Company: AGSS
Filing Date: 2025-09-25
Form Type: 10-Q
Source: 0001213900-25-091579
Chunk: 24

Company: AMERIGUARD SECURITY SERVICES, INC.
Filing Date: 2025-09-25
Form: 10-Q
Item: Item 1
Chunk 24
---
10, 2025, the executive level management
and Board of directors experience a significant disruptive event. At a board Meeting held on that day, board members Douglas Anderson
and Russel Honore’ acting on the recommendation of the Audit Committee, on which they were appointed, made a motion to remove Mr.
Lawrence Garcia from the position of CEO. At the same time, they appointed board member Anderson as the temporary CEO. On June 12th,
Douglas Anderson filed a Form 8-K stating that Board of Directors (the “Board”) of AmeriGuard Security Services, Inc. (the
“Company”) removed Lawrence Garcia from the position of Chief Executive Officer of the Company, effective immediately, and
that the Board appointed as interim Chief Executive Officer Mr. Anderson, an independent director of the Board and member of the Audit
Committee and Compensation Committee.

On June 16, 2025, as previously reported on the
Company’s Current Report on Form 8-K filed on June 20, 2025, Mr. Garcia, pursuant to the Company’s bylaws, removed Mr. Anderson
and Russell Honore, an independent director of the Board and member of the Audit Committee and Compensation Committee, as board members
and appointed Wilhelm Cashen and Terry Slatic as board members to replace Messrs Anderson and Honore. On June 16, 2025, the Board also
removed Mr. Anderson from the position of Interim Chief Executive Officer, effective immediately, and appointed Mr. Garcia as Chairman
of the Board and Chief Executive Officer of the Company to assume such executive responsibilities effective immediately. The Board also
appointed Mr. Slatic and Mr. Cashen to be the members of the Audit Committee.

On June 17, 2025, the Company and Mr. Garcia filed
a Complaint in the District Court, Clark County, Case No. A-25-921392-B (Dept. 31) (the “Complaint”), against Mr. Anderson
and Mr. Honore. The Complaint seeks declaratory relief to declare that Mr. Garcia’s purported removal from the Company’s Board
of Directors on June 12, 2025, was in violation of the Company’s Bylaws and invalid; that Mr. Anderson and Mr. Honore are no longer
members of the Board, nor of any board committees; that the Board of Directors is comprised of three directors – Mr. Garcia, Mr.
Slatic, and Mr. Cashen; that Mr. Garcia is