Company: AGSS
Filing Date: 2025-09-25
Form Type: 10-Q
Source: 0001213900-25-091579
Chunk: 26

Company: AMERIGUARD SECURITY SERVICES, INC.
Filing Date: 2025-09-25
Form: 10-Q
Item: Item 1
Chunk 26
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 publishing any further false statements
regarding their purported positions at and on the Board; prohibiting Mr. Garcia, Mr. Cashen, and Mr. Slatic from taking any further action
on behalf of the Company.

On July 1, 2025, Garcia filed an Opposition to
Counterclaimants’ Application for Temporary Restraining Order and Motion for Preliminary Injunction.

On July 2, 2025, the Court denied Mr. Anderson’s
and Mr. Honore’s Application for Temporary Restraining Order and Motion for Preliminary Injunction against Mr. Garcia, Mr. Cashen,
Mr. Slatic, and Mr. Goossen. At this hearing, counsel for Mr. Anderson and Mr. Honore’ indicated that they had evidence that Mr.
Garcia was in fact not the majority shareholder and his actions since June 10, 2025, were unlawful. The Judge agreed to hear the evidence
at a future hearing scheduled for July 29, 2025.

16

On July 29, 2025 the hearing began at 1:30 and
the evidence and witness testimony occurred but did not get completed. A second hearing occurred on July 31, 2025, allowing for the completion
of the testimony brought by the counsel of Mr. Anderson’ and Mr. Honore’. Following the conclusion of the testimony, Mr. Garcia’s
counsel petitioned the judge that there was no evidence provided that countered the position that Mr. Garcia was in fact an 80% shareholder
ad that the court should rule in his favor. The judge agreed.

The results of the actions taken by Mr. Anderson
and Mr. Honore’ have impacted the Company negatively in two ways. First, On July 1, 2025, the Company received notice that our Government
Purchase Order/Receivables Financing Agreement (the “Financing Agreement”), dated as of February 5, 2025, between the Company
and List Government Receivables Fund, LLC (the “Lender”), was in default and that no further funding would be available. A
Form 8-K was filed July 10, 2025, detailing the event. The second event was this action taken by the Lender caused the Company to forfeit
the three Social Security Administration contracts listed in Note 13 above effective June 30, 2025. The impact of the forfeiture was immediate,
reducing monthly revenues by $1.2 million. This situation