Company: AGSS
Filing Date: 2025-05-12
Form Type: 10-K
Source: 0001829126-25-003553
Chunk: 418

Company: AMERIGUARD SECURITY SERVICES, INC.
Filing Date: 2025-05-12
Form: 10-K
Item: Item 7
Chunk 418
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ates in, are growing industries.

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    The security industry is somewhat recession proof.

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    The non-emergency transportation market is growing at an annual rate of over 7.5%.

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    There are over 10,000 security companies operating in our market, with 50% available for acquisition.

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    Our management team, Board of Directors and supporting equity professionals can get the job done.

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    We negotiated a full refinance agreement of our debt in March 2025, allowing for better control of debt payments and cash flow.

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    We have been and will continue to be a company that is very conservative with our resources and will use every available dollar providing strength, and good return to our investors.

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    We are in it for the long haul.

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We are a smaller reporting company and are not required to provide the information required by this item.

11

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

Our consolidated balance sheets, as of December 31,
2024, and 2023, and the related consolidated statements of operations and comprehensive loss, stockholders’ deficit and cash flows
for each of the two years in the period ending December 31, 2024, and 2023, together with the related notes and the report of our
independent registered public accounting firm, are set forth on the “F” pages of this report.

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

On May 3, 2024, the Securities
and Exchange Commission (the “Commission”) entered an order instituting settled administrative and cease-and-desist proceedings
against BF Borgers and its sole audit partner, Benjamin F. Borgers CPA, permanently barring Mr. Borgers and BF Borgers from appearing
or practicing before the Commission as an accountant (the “Order”). As a result of the Order, BF Borgers may no longer serve
as the independent registered public accounting firm for the Company, nor can BF Borgers issue any audit reports included in Commission
filings or provide consents with respect to audit reports. In light of the Order, on May 6, 2024, the Board of Directors of the Company
terminated the engagement of BF Borgers as its independent registered accounting