Company: AGSS
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001213900-25-111597
Chunk: 44

Company: AMERIGUARD SECURITY SERVICES, INC.
Filing Date: 2025-11-17
Form: 10-Q
Item: Item 8
Chunk 44
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. The interest rate on December 31, 2024, was 11.%.
The balance remaining on the SBA loan was $0
and $649,359
as of September 30, 2025, and December 31, 2024, respectively. The SBA loan was paid in full via refinance on February 5, 2025.
See information below. 

 On July 7, 2022, the Company entered into
a buyout agreement with shareholder Lillian Flores. The total buyout amount was $3,384,950
representing 45%
of the calculated business value as of December 31, 2020. Following the initial payment of $686,990,
the company agreed to make 4 equal installments of principal and interest of $739,508
each December 31, starting 2023. Interest is calculated at a fixed rate of 3.110%
compounded semi-annually. The company accrued interest on December 31, 2022, of $49,035.
Balance remains in the amount of $2,697,960.
All interest due was paid December 28, 2023, resulting in a balance of $0
on December 31, 2023. The Company requested a deferral of the payment of principal due December 31, 2023, and received a deferral
from Mrs. Flores. On January 22, 2024, the Company entered into an agreement with Lillian Flores regarding the deferral of the
required shareholder buyout payment of $611,253
due December 31, 2023. The deferral of the principal payment was requested by the Company for the purpose of capital retention. The
agreement allows for a $16,500
monthly principal and interest payment starting in January 2024 through June 2024. Monthly interest is calculated at $1,585,
leaving $14,915
applied to the principal. The agreement requires the remaining deferred principal of $521,763
to be paid by the Company on or before June 30, 2024. On June 30, 2024, Lillian Flores agreed to continue the extension payments
of $16,500
amortized at 5%,
with the remaining amount due December 31, 2026. Balance due September 30, 2025, was $2,495,409
and was $2,531,