Company: AGSS
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001213900-25-111597
Chunk: 45

Company: AMERIGUARD SECURITY SERVICES, INC.
Filing Date: 2025-11-17
Form: 10-Q
Item: Item 8
Chunk 45
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096,
December 31, 2024. 

 On December 20, 2023, the company entered
into a short-term loan agreement collateralized by accounts receivable from TVT Capital LLC. The agreement encumbered $1,199,200
of receivables resulting in a note payable of $800,000;
the repayment term requires $49,967
per week for 24 weeks. As of December 31, 2023, the balance of $766,667
was outstanding, and is included as current portion of notes payable. During 2024, 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 detail of refinance below. Balance due December 31, 2024,
of $580,000
includes all principal and interest due per final settlement, presented as current. 

 On January 2, 2024, the Company entered
into a short-term loan agreement collateralized by accounts receivable with Cedar Advance Capital. The agreement encumbered $719,250
of receivables, resulting in a note payable of $525,000;
the repayment term requires $22,477
per week for 32 weeks. During 2024, 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 detail of refinance below. Balance due December 31, 2024, of $475,000
includes all principal and interest due per final settlement, presented as current. 

10

 On January 2, 2024, the Company entered
into a short-term loan agreement collateralized by accounts receivable with Velocity Capital Group. The agreement encumbered $565,150
of receivables resulting in a note payable of $412,500;
the repayment term requires $17,660
per week for 32 weeks. During 2024, 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 detail