EQUITY |
9 Months Ended |
|---|---|
Sep. 30, 2022 | |
| Equity [Abstract] | |
| EQUITY | 3 – EQUITY
Common Stock
On March 11, 2022, AGSS amended its articles of incorporation to reverse split its Common Stock at a rate of one-for-20, which was declared effective by FINRA on March 17, 2022. The Common Stock was reverse split to post-split shares from pre-split common shares.
The Company has authorized shares of $ par value, Common Stock. As of September 30, 2022 and December 31, 2021, there were (pre-split ) and (post-split ) shares of Common Stock issued and outstanding, respectively.
Preferred Stock
On November 16, 2020, the Company designated, out of the Twenty-five Million () authorized shares of preferred stock, par value $ per share, of Series A-1 Preferred Stock, consisting of Ten Million (10,000,000) shares, which are convertible to common stock at the conversion ratio of 72 shares of common stock for each share of preferred stock. These shares were awarded to Custodian Ventures, managed by former officer and director David Lazar, for services performed for the Company. These shares were valued at par value assuming all of the preferred shares were converted to common stock, or $ which was recorded as stock-based compensation.
On September 8, 2021, in a private transaction Custodian Ventures LLC sold its Series A-1 Preferred Stock to Ameriguard Security Services, Inc., California corporation. The officer and control person of Ameriguard Security Services, Inc., California corporation is Lawrence Garcia, the Company’s President, CEO, CFO, Treasurer, Secretary, and Chairman of the Board of Directors.
As of September 30, 2022 and December 31, 2021, there were shares of Series A-1 Preferred Stock issued and outstanding, respectively.
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