Company: AGSS
Filing Date: 2025-05-12
Form Type: 10-K
Source: 0001829126-25-003553
Chunk: 484

Company: AMERIGUARD SECURITY SERVICES, INC.
Filing Date: 2025-05-12
Form: 10-K
Item: Item 7A
Chunk 484
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4, the Company was unable to pay the weekly payments as required by the note and went into default in
April 2024. Negotiations for lower payments and total interest due continued throughout the following months and a final settlement was
achieved in February 2025. See note 15 Subsequent Events for details. Balance due December 31, 2024, of $420,000 includes all principal
and interest due per final settlement.

On
April 16, 2024, The Company entered into a short-term loan agreement with 1800 Diagonal Lending LLC. The amount funded was $90,850,
reduced by an original issue discount and fee of $15,850 and
with an interest rate of 12%. Note
requires 10 equal payments of $10,175 starting May 30, 2024. Note is collateralized with common share convertible at 71% of the
lowest market value during the 10 days prior to conversion. Balance due on December 31, 2024, was $27,254.

On
April 16, 2024, The Company entered into a short-term loan agreement with 1800 Diagonal Lending LLC. The amount funded was $90,850,
reduced by an original issue discount and fee of $15,850
and with an interest rate of 12%. The
note requires 5 payments starting October 30, 2024, with a payment of $50,876, followed by 4 equal payments each month in the amount
of $12,719. The note is collateralized with common share convertible at 71% of the lowest market value during the 10 days prior to
conversion. Balance due on December 31, 2024, was $34,069.

    F-13

On
June 17, 2024, The Company entered into a short-term loan agreement with 1800 Diagonal Lending LLC. The amount funded was $121,900,
reduced by an original issue discount and fee of $21,900
and with an interest rate of 12%. The
note requires 5 payments starting December 15, 2024, with a payment of $68,264, followed by 4 equal payments each month in the
amount of $17,066. The note is collateralized with common share convertible at 71% of the lowest market value during the 10 days
prior to conversion. Balance due on December 31