10-Q Filing

AMERIGUARD SECURITY SERVICES, INC. CIK: 1514443 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001213900-12-006208`
Period End Date	20120930
Filing Date	20121114
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	fil-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 64 Cash Flow Statement 76

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Cash	`Cash`	$198.50K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	75.00M	shares	Point-in-time
Cash	`Cash`	$57.18K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$348.52K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$143.56K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	16.50M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	35.19M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	16.50M	shares	Point-in-time
Due from factor	`DueFromRelatedPartiesCurrent`	-	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	35.19M	shares	Point-in-time
Due from factor	`DueFromRelatedPartiesCurrent`	$127.64K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$6.51K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$24.51K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$5.84K	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$9.05K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$372.41K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$548.91K	USD	Point-in-time
Property and Equipment, net	`PropertyPlantAndEquipmentNet`	$352.50K	USD	Point-in-time
Property and Equipment, net	`PropertyPlantAndEquipmentNet`	$377.06K	USD	Point-in-time
Software	`Software`	-	USD	Point-in-time
Software	`Software`	$92.73K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.87K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$8.87K	USD	Point-in-time
Finance costs, net	`DeferredFinanceCostsNoncurrentNet`	$2.80K	USD	Point-in-time
Finance costs, net	`DeferredFinanceCostsNoncurrentNet`	$2.56K	USD	Point-in-time
Total Other Assets	`AssetsNoncurrent`	$11.67K	USD	Point-in-time
Total Other Assets	`AssetsNoncurrent`	$104.15K	USD	Point-in-time
Total Assets	`Assets`	$736.58K	USD	Point-in-time
Total Assets	`Assets`	$1.03M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$195.90K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$161.05K	USD	Point-in-time
Accounts payable Related Party	`DueToRelatedPartiesCurrent`	$75.00K	USD	Point-in-time
Accounts payable Related Party	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Accrued expenses	`AccruedProfessionalFeesCurrent`	$41.89K	USD	Point-in-time
Accrued expenses	`AccruedProfessionalFeesCurrent`	$23.27K	USD	Point-in-time
Accrued payroll	`AccruedLiabilitiesCurrent`	$73.69K	USD	Point-in-time
Accrued payroll	`AccruedLiabilitiesCurrent`	$380.55K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$98.50K	USD	Point-in-time
Line of credit	`LinesOfCreditCurrent`	$150.00K	USD	Point-in-time
Capital Leases (current obligation)	`CapitalLeaseObligationsCurrent`	-	USD	Point-in-time
Capital Leases (current obligation)	`CapitalLeaseObligationsCurrent`	$16.92K	USD	Point-in-time
Current maturities of long term debt	`LongTermDebtCurrent`	$283.64K	USD	Point-in-time
Current maturities of long term debt	`LongTermDebtCurrent`	$35.38K	USD	Point-in-time
Advances on convertible promissory notes	`AdvancesOnConvertiblePromissoryNotes`	$170.00K	USD	Point-in-time
Advances on convertible promissory notes	`AdvancesOnConvertiblePromissoryNotes`	-	USD	Point-in-time
Settlement Payable	`SettlementPayable`	$207.50K	USD	Point-in-time
Settlement Payable	`SettlementPayable`	-	USD	Point-in-time
Unearned revenue	`DeferredRevenueCurrent`	$32.99K	USD	Point-in-time
Unearned revenue	`DeferredRevenueCurrent`	-	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.07M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$877.98K	USD	Point-in-time
Capital Leases (net of current portion)	`CapitalLeaseObligationsNoncurrent`	-	USD	Point-in-time
Capital Leases (net of current portion)	`CapitalLeaseObligationsNoncurrent`	$28.20K	USD	Point-in-time
Long term debt (net of current portion)	`LongTermDebtNoncurrent`	$218.42K	USD	Point-in-time
Long term debt (net of current portion)	`LongTermDebtNoncurrent`	$191.20K	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.29M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.10M	USD	Point-in-time
Commitments and Contingencies (see Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (see Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock ($0.001 par value, 75,000,000 shares authorized, 35,191,080 shares and 16,499,021 issued and outstanding at September 30, 2012 and December 31, 2011, respectively)	`CommonStockValue`	$16.50K	USD	Point-in-time
Common stock ($0.001 par value, 75,000,000 shares authorized, 35,191,080 shares and 16,499,021 issued and outstanding at September 30, 2012 and December 31, 2011, respectively)	`CommonStockValue`	$35.19K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.06M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$751.01K	USD	Point-in-time
Accumulated deficit	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$1.13M	USD	Point-in-time
Accumulated deficit	`DevelopmentStageEnterpriseDeficitAccumulatedDuringDevelopmentStage`	$2.35M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-257.56K	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-359.82K	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$1.03M	USD	Point-in-time
Total Liabilities and Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$736.58K	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$3.62M	USD	3 Qtrs
Revenues	`Revenues`	$1.99M	USD	1 Quarter
Revenues	`Revenues`	$1.01M	USD	3 Qtrs
Revenues	`Revenues`	$423.32K	USD	1 Quarter
Cost of Revenues	`CostOfRevenue`	$101.29K	USD	1 Quarter
Cost of Revenues	`CostOfRevenue`	$758.27K	USD	1 Quarter
Cost of Revenues	`CostOfRevenue`	$252.39K	USD	3 Qtrs
Cost of Revenues	`CostOfRevenue`	$1.64M	USD	3 Qtrs
Gross Profit	`GrossProfit`	$760.89K	USD	3 Qtrs
Gross Profit	`GrossProfit`	$1.98M	USD	3 Qtrs
Gross Profit	`GrossProfit`	$1.23M	USD	1 Quarter
Gross Profit	`GrossProfit`	$322.03K	USD	1 Quarter
Selling and administrative expenses (includes stock compensation of $0 and $256,284 as of September 30, 2012 and 2011, respectively)	`SellingGeneralAndAdministrativeExpense`	$454.69K	USD	1 Quarter
Selling and administrative expenses (includes stock compensation of $0 and $256,284 as of September 30, 2012 and 2011, respectively)	`SellingGeneralAndAdministrativeExpense`	$764.76K	USD	3 Qtrs
Selling and administrative expenses (includes stock compensation of $0 and $256,284 as of September 30, 2012 and 2011, respectively)	`SellingGeneralAndAdministrativeExpense`	$1.07M	USD	1 Quarter
Selling and administrative expenses (includes stock compensation of $0 and $256,284 as of September 30, 2012 and 2011, respectively)	`SellingGeneralAndAdministrativeExpense`	$2.73M	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$926.00	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$63.30K	USD	3 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$24.64K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$54.06K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$7.41K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$22.29K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$14.01K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$36.76K	USD	3 Qtrs
Total Operating Expenses	`OperatingExpenses`	$1.08M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$486.73K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$850.35K	USD	3 Qtrs
Total Operating Expenses	`OperatingExpenses`	$2.82M	USD	3 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$142.45K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-840.30K	USD	3 Qtrs
Operating income (loss)	`OperatingIncomeLoss`	$-164.70K	USD	1 Quarter
Operating income (loss)	`OperatingIncomeLoss`	$-89.46K	USD	3 Qtrs
Other income	`OtherIncome`	$5.36K	USD	1 Quarter
Other income	`OtherIncome`	-	USD	1 Quarter
Other income	`OtherIncome`	$9.45K	USD	3 Qtrs
Other income	`OtherIncome`	-	USD	3 Qtrs
Interest expense	`InterestExpense`	$392.89K	USD	3 Qtrs
Interest expense	`InterestExpense`	$377.95K	USD	1 Quarter
Interest expense	`InterestExpense`	$6.47K	USD	1 Quarter
Interest expense	`InterestExpense`	$19.07K	USD	3 Qtrs
Total Other Income (Expense), net	`NonoperatingIncomeExpense`	$-6.47K	USD	1 Quarter
Total Other Income (Expense), net	`NonoperatingIncomeExpense`	$-19.07K	USD	3 Qtrs
Total Other Income (Expense), net	`NonoperatingIncomeExpense`	$-372.60K	USD	1 Quarter
Total Other Income (Expense), net	`NonoperatingIncomeExpense`	$-383.44K	USD	3 Qtrs
Income (Loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-1.22M	USD	3 Qtrs
Income (Loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-171.17K	USD	1 Quarter
Income (Loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-230.15K	USD	1 Quarter
Income (Loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-108.54K	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-1.22M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-171.17K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-108.54K	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-230.15K	USD	1 Quarter
basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	3 Qtrs
basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	3 Qtrs
basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.76M	shares	3 Qtrs
basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	14.87M	shares	1 Quarter
basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	31.47M	shares	3 Qtrs
basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	32.84M	shares	1 Quarter

Cash Flow Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.22M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-171.17K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-108.54K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-230.15K	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$22.29K	USD	3 Qtrs
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$36.76K	USD	3 Qtrs
Stock issued for compensation	`ShareBasedCompensation`	-	USD	3 Qtrs
Stock issued for compensation	`ShareBasedCompensation`	$256.28K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$300.00K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$204.97K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-12.87K	USD	3 Qtrs
Due from Factor	`IncreaseDecreaseInDueFromRelatedPartiesCurrent`	-	USD	3 Qtrs
Due from Factor	`IncreaseDecreaseInDueFromRelatedPartiesCurrent`	$127.64K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-18.00K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$6.14K	USD	3 Qtrs
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$3.21K	USD	3 Qtrs
Accounts Payable Related Party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$75.00K	USD	3 Qtrs
Accounts Payable Related Party	`IncreaseDecreaseInAccountsPayableRelatedParties`	-	USD	3 Qtrs
Unearned revenue	`IncreaseDecreaseInDeferredRevenue`	$-32.99K	USD	3 Qtrs
Unearned revenue	`IncreaseDecreaseInDeferredRevenue`	-	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-34.85K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	-	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$34.80K	USD	3 Qtrs
Accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$325.48K	USD	3 Qtrs
Net Cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$211.58K	USD	3 Qtrs
Net Cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-872.16K	USD	3 Qtrs
Capitalization of internally developed software	`CapitalizationOfInternallyDevelopedSoftware`	-	USD	3 Qtrs
Capitalization of internally developed software	`CapitalizationOfInternallyDevelopedSoftware`	$92.73K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$9.64K	USD	3 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.40K	USD	3 Qtrs
Net Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-102.37K	USD	3 Qtrs
Net Cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.40K	USD	3 Qtrs
Borrowings on line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$51.50K	USD	3 Qtrs
Borrowings on line of credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$162.50K	USD	3 Qtrs
Payment for repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$25.00K	USD	3 Qtrs
Payment for repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	3 Qtrs
Loan proceeds	`ProceedsFromIssuanceOfDebt`	-	USD	3 Qtrs
Loan proceeds	`ProceedsFromIssuanceOfDebt`	$443.91K	USD	3 Qtrs
Repayments of debt obligations	`RepaymentsOfDebt`	$34.17K	USD	3 Qtrs
Repayments of debt obligations	`RepaymentsOfDebt`	$25.48K	USD	3 Qtrs
Issuance of stock for cash, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$350.00K	USD	Point-in-time
Issuance of stock for cash, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$394.58K	USD	3 Qtrs
Issuance of stock for cash, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$335.00K	USD	Point-in-time
Issuance of stock for cash, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Issuance of stock for cash, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$349.00K	USD	Point-in-time
Issuance of stock for cash, net of offering costs	`ProceedsFromIssuanceOfCommonStock`	$22.00K	USD	Point-in-time
Payments on Capital Leases	`ProceedsFromLongTermCapitalLeaseObligations`	-	USD	3 Qtrs
Payments on Capital Leases	`ProceedsFromLongTermCapitalLeaseObligations`	$-6.31K	USD	3 Qtrs
Payments of stockholder distributions	`PaymentsOfStockIssuanceCosts`	$122.98K	USD	3 Qtrs
Payments of stockholder distributions	`PaymentsOfStockIssuanceCosts`	-	USD	3 Qtrs
Net Cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$5.34K	USD	3 Qtrs
Net Cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$833.21K	USD	3 Qtrs
Net Increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-141.32K	USD	3 Qtrs
Net Increase (decrease) in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$205.52K	USD	3 Qtrs
Cash at beginning of period	`CashEquivalentsAtCarryingValue`	$198.50K	USD	Point-in-time
Cash at beginning of period	`CashEquivalentsAtCarryingValue`	$57.18K	USD	Point-in-time
Cash at beginning of period	`CashEquivalentsAtCarryingValue`	$260.31K	USD	Point-in-time
Cash at beginning of period	`CashEquivalentsAtCarryingValue`	$54.79K	USD	Point-in-time
Cash at end of period	`CashEquivalentsAtCarryingValue`	$198.50K	USD	Point-in-time
Cash at end of period	`CashEquivalentsAtCarryingValue`	$57.18K	USD	Point-in-time
Cash at end of period	`CashEquivalentsAtCarryingValue`	$260.31K	USD	Point-in-time
Cash at end of period	`CashEquivalentsAtCarryingValue`	$54.79K	USD	Point-in-time
Interest	`InterestPaid`	$25.83K	USD	3 Qtrs
Interest	`InterestPaid`	$19.08K	USD	3 Qtrs
Income Taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Income Taxes	`IncomeTaxesPaid`	-	USD	3 Qtrs
Issuance of stock to repay debt	`StockIssued1`	$563.91K	USD	3 Qtrs
Issuance of stock to repay debt	`StockIssued1`	-	USD	3 Qtrs
Capital lease obligation incurred for use of equipment	`CapitalLeaseObligationsIncurred`	-	USD	3 Qtrs
Capital lease obligation incurred for use of equipment	`CapitalLeaseObligationsIncurred`	$38.70K	USD	3 Qtrs
Beneficial conversion feature on convertible debt charged to additional paid in capital	`AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt`	$300.00K	USD	3 Qtrs
Beneficial conversion feature on convertible debt charged to additional paid in capital	`AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt`	-	USD	3 Qtrs
Conversion of $300,000 notes to common stock	`DebtConversionConvertedInstrumentAmount1`	$300.00K	USD	3 Qtrs
Conversion of $300,000 notes to common stock	`DebtConversionConvertedInstrumentAmount1`	-	USD	3 Qtrs

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.