Company: SWAGW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044222
Chunk: 243

Company: Stran & Company, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 8
Chunk 243
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 Accounting - The Company’s financial statements are prepared using the accrual basis of
accounting in accordance with accounting principles generally accepted in the United States of America. (“U.S. GAAP”).

4.Basis of Presentation - The accompanying unaudited condensed consolidated financial statements as of and
for the three months ended March 31, 2025, include the accounts of the Company and have been prepared by the Company, without audit, pursuant
to the rules and regulations of the Securities and Exchange Commission. These unaudited condensed consolidated financial statements should
be read in conjunction with the audited financial statements and the notes thereto included in our Annual Report on Form 10-K filed with
the Securities and Exchange Commission on April 14, 2025.

Certain information and footnote disclosures
normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or
omitted pursuant to such rules and regulations, and we believe that the disclosures are adequate to make the information presented not
misleading. In our opinion, all adjustments (consisting solely of normal recurring adjustments) necessary to state fairly the information
in the following unaudited condensed consolidated financial statements of the Company have been included. The results of operations for
interim periods are not necessarily indicative of the results for the full year.

5.Principles of Consolidation - The Company’s consolidated financial statements include the accounts
of its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

6.Use of Estimates - The preparation of financial statements in conformity
with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts
and disclosure of certain assets, liabilities and expenses. The most significant estimates in the Company’s financial statements
relate to the fair value of assets and liabilities assumed in acquisitions. These estimates and assumptions are based on current facts,
historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis
for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from
other sources. Actual results may differ materially and adversely from these estimates. To the extent there are material differences between
the estimates and actual results, the Company’s future results of operations will be affected.

8

STRAN & COMPANY, INC.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS

(in thousands, except share and per share amounts)

7.Fair Value Measurements and Fair Value