Financial Performance - Gross profit for 2024 reached $3,634,743, representing a margin of 20.5%, compared to $2,643,060 and a margin of 13.7% in 2023 [56]. - Operating income increased to $2,416,113 in 2024, with a margin of 13.6%, up from $326,411 and a margin of 1.7% in 2023 [56]. - Net income for 2024 was $1,229,601, a significant improvement from a net loss of $2,097,013 in 2023, reflecting a margin of 6.9% [56]. - The number of customers grew to 41 in 2024, up from 38 in 2023 [56]. - The company has over 41 customers, with the top ten customers accounting for approximately 93% of total revenue in 2024 and 88% in 2023 [83]. Business Operations and Services - Managed security services include 24/7 monitoring, threat detection, incident response, and remediation [38]. - The company provides consulting and advisory services to enhance customers' cybersecurity programs [30]. - Cycurion's managed IT services optimize IT infrastructure, reduce costs, and improve operational efficiency [33]. - Cycurion's growth engine is driven by organic business solutions and strategic acquisitions of cybersecurity services and technology providers [29]. - The Cycurion ARx platform offers comprehensive cybersecurity solutions, including DDoS protection and endpoint protection, enhancing overall security posture [55]. - The company has a strong focus on healthcare IT services, addressing HIPAA/HITECH compliance and improving service delivery through technology solutions [52]. - Cycurion has integrated technology assets from Sabres into its Managed Security Services Practice, enhancing service offerings and commercial business expansion [80]. Acquisitions and Strategic Partnerships - Cycurion plans to acquire SLG Innovation Inc., with the acquisition agreement expected to close in the current fiscal quarter [67]. - The SLG Management Agreement aims to ensure SLG's commercial viability and will result in SLG's financial statements being consolidated with Cycurion's [70]. - Axxum Technologies, acquired in 2017, continues to provide cybersecurity services to federal government clients while expanding its commercial footprint [58]. - Cloudburst Security, acquired in 2019, specializes in innovative cybersecurity services for various sectors, enhancing the company's service offerings [61]. - An expanded partnership with a major health association will bring Cycurion's Managed Security Services Provider (MSSP) to several thousand member organizations across the country [104]. Financial Challenges and Compliance - Cycurion has incurred net losses and cannot assure that it will achieve or maintain profitable operations [22]. - The company requires substantial additional funding in the future, which may not be available on acceptable terms [22]. - Cycurion's ability to grow and compete will be adversely affected if adequate capital is not available [22]. - The company has a limited operating history, raising substantial doubt regarding its ability to continue as a going concern [22]. - Cycurion issued multiple promissory notes totaling $300,000 in January 2025 to unaffiliated investors [95][96][97]. - Cycurion received a notification from Nasdaq regarding a deficiency in the closing bid price of its common stock, which has been below $1.00 for 30 consecutive business days, with a compliance deadline of October 6, 2025 [108]. - The company was also notified of a deficiency in maintaining a Market Value of Listed Securities (MVLS) below the required $50,000,000 for 30 consecutive business days, with a compliance deadline of October 8, 2025 [109]. - Additionally, Cycurion was informed of a deficiency in the Market Value of Publicly Held Shares (MVPHS), which has been below the required $15,000,000 for 30 consecutive business days, also with a compliance deadline of October 8, 2025 [110]. - Failure to regain compliance within the specified 180-day periods for either MVLS or MVPHS could result in delisting from Nasdaq, although the company retains the right to appeal such decisions [109][110]. - The Nasdaq notifications currently have no effect on the listing status of Cycurion's common stock [108][109][110]. - The company is classified as a smaller reporting company and is not required to provide additional market risk disclosures [311]. Future Outlook and Growth Strategy - Cycurion expects to close the RCR Term Sheet transactions in the first half of the current fiscal year, with a backlog of $16 million as of December 31, 2024, compared to $15 million in 2023 [86]. - Cycurion's Multi-Dimensional Protection (MDP) platform is expected to move into production in Q3 2024, enhancing cybersecurity capabilities through a cloud-based AI algorithm [78]. - The company plans to continue expanding its market presence by pursuing new customers and investing in new technology platforms, including cybersecurity and disaster recovery solutions [85]. - Cycurion's common stock began trading on The Nasdaq Global Market under the symbol "CYCU" following the completion of a business combination on February 14, 2025 [101].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-41214 Western Acquisition Ventures Corp. (Exact name of registrant as specified in its charter) Delaware (State or ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-41214 Western Acquisition Ventures Corp. (Exact name of registrant as specified in its charter) Delaware (State or Othe ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-41214 Western Acquisition Ventures Corp. (Exact name of registrant as specified in its charter) Delaware (State or Oth ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission file number: 001-41214 WESTERN ACQUISITION VENTURES CORP. (Exact name of registrant as specified in its charter) | Delaw ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-41214 Western Acquisition Ventures Corp. (Exact name of registrant as specified in its charter) Delaware (State or ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware (State or Other Jurisdiction of Incorporation or Organization) 42 Broadway, 12th Floor For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Western Acquisition Ventures Corp. Commission File ...

Financial Performance - For the three months ended March 31, 2023, the company reported a net loss of $171,611, compared to a net loss of $590,409 for the same period in 2022, indicating a decrease in losses by approximately 71%[122][123] - Net cash used in operating activities for the three months ended March 31, 2023, was $393,175, primarily due to the net loss and changes in fair value of derivative liabilities[125] - The company incurred $403,872 in professional fees and administrative expenses for the three months ended March 31, 2023[122] Liquidity and Financial Position - As of March 31, 2023, the company had $386,306 in cash held outside of the Trust Account and a working capital deficit of $2,062,980, highlighting liquidity challenges[124] - The company has incurred significant costs in pursuit of acquisition plans and may need additional financing to complete its Business Combination or to meet redemption obligations[127] - The merger agreement may be terminated if the merger is not consummated by May 31, 2023, raising concerns about the company's ability to continue as a going concern[120][128] Business Combination and Mergers - The company executed a merger agreement with Cycurion, Inc. on November 21, 2022, with the intention of closing the Business Combination by May 31, 2023[116][120] - The company has engaged A.G.P. as an advisor for the Business Combination, agreeing to pay a fee of 4.5% of the gross proceeds of the IPO, amounting to $5,175,000[134] Revenue Generation - The company generated non-operating income in the form of interest income from the IPO proceeds placed in the Trust Account, but does not expect to generate operating revenues until after the Business Combination[121] - The company has not generated any operating revenues to date and relies on interest income from the Trust Account for non-operating income[121] Accounting and Risk Disclosures - The Company adopted ASU 2016-13 on January 1, 2023, which did not have a material impact on its financial statements[140] - Management does not believe that any recently issued accounting pronouncements would materially affect the Company's unaudited condensed financial statements[141] - There have been no material changes to the quantitative and qualitative disclosures about market risk since the 2022 Annual Report[142]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____________ to _____________ Commission file number: 001-41214 WESTERN ACQUISITION VENTURES CORP. (Exact name of registrant as specified in its charter) | Delaware | | 86-3720717 | | --- | --- | --- | | (State or other jurisdiction of | | (I.R.S. Employer | | incorporation or organization) | | ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-41214 Western Acquisition Ventures Corp. (Exact name of registrant as specified in its charter) Delaware (State or ...