Company: AGSS
Filing Date: 2025-05-08
Form Type: 10-K/A
Source: 0001829126-25-003478
Chunk: 46

Company: AMERIGUARD SECURITY SERVICES, INC.
Filing Date: 2025-05-08
Form: 10-K/A
Chunk 46
---
 December 31, 2023, and 2022 were 11% and 9% respectively. Balance remaining on the SBA loan was $730,213 and $804,387 as of December 31, 2023, and 2022 respectively.

F-13

On July 7, 2022, the Company entered into a buyout agreement with shareholder Lillian Flores. The total buyout amount was $ 3,384,950 representing 45% of the calculated business value as of December 31, 2020. Following the initial payment of $686,990, the company agreed to make 4 equal installments of principal and interest of $739,508 each December 31, starting 2023. Interest is calculated at a fixed rate of 3.110% compounded semi-annually. The company had accrued interest on December 31, 2022, of $49,035. Balance remains in the amount of $2,697,960. All interest due was paid December 28, 2023, resulting in a balance of $0 on December 31, 2023. The Company requested a deferral of the payment of principal due December 31, 2023, and received a deferral from Mrs. Flores. See subsequent events Note 15 for details.

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.

The following schedule details the loans active as of December 31, 2023, and 2022:

| Schedule of the loan active 
 Current Portion:            |     | 2023 |           |     | 2022 |           |
|:----------------------------|:----|:-----|----------:|:----|:-----|----------:|
| Notes and loans payable     |     | $    | 2,160,347 |     | $    |   719,563 |
| Long term Portion:          |     |      |           |     |      |           |
| Notes and loans payable     |     |      | 2,