Company: AGSS
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001213900-25-111597
Chunk: 49

Company: AMERIGUARD SECURITY SERVICES, INC.
Filing Date: 2025-11-17
Form: 10-Q
Item: Item 8
Chunk 49
---
 100,000
of his shares to the lender following payment of loan. On January 8, 2025, W.L.L Associates modified the note, extending the payment date
to February 12, 2025. Balance due on December 31, 2024, was $115,000.
The loan was paid in full via refinance on February 5, 2025. See information below. 

 On February 05, 2025, the Company entered into
a government purchase orders/receivables backed line of credit of $7,000,000
with a maturity date of August
5, 2026, with Legalist, Inc an investment firm specializing in alternative assets. The agreement requires the payments
from the six Federal Contracts described in Note 13 – Concentration of Sales, to go directly to the lenders, with the Company allowed
to draw on the credit line every week as needed for operations. Interest on the outstanding balance is accrued daily at the U.S. Prime
Rate plus .0246%. The effective interest rate as of June 30, 2025, was 7.5246%.
As an active line of credit, the balance is presented as current. Balance as of September 30, 2025, was $3,779,566.

 The Company paid off all of its merchant advance
debt and revenue purchase agreements that were taken out in December 2023 and January of 2024 totaling $1,475,000.
The Company also paid off an SBA Loan that was entered into in June 2020, in the amount of $634,849.
The Company also used the line of credit to pay off the two loans with First Class Industries in the amount of $496,000
and the loan with W.L.L Associates in the amount of $115,000.

The following schedule details the loans active
as of September 30, 2025, and December 31, 2024:

    2025

    2024

    Current Portion:

    Notes and loans payable
     
    $
    3,851,899

    $
    2,854,977

    Long term Portion:

    Notes and loans payable

    2,423,077

    3,000,123

    Total Notes Payable
     
    $
    6,274,976

    $
    5,855,100

NOTE 11 –