Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1342

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 6
Chunk 1342
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 to be Level
3 inputs. See Note A – Organization and Summary of Significant Accounting Policies for more detail of methodology.

The following table summarizes the
activity in the Company’s goodwill balance:

    Balance as of December 31, 2022  (1) 
    $90 
  
    Acquisition (see Note F) 
     720 
  
    Impairment 
     (810)
  
    Balance as of December 31, 2023 (2) 
    $— 
  
    Gander Group Acquisition (see Note F) 
     2,542 
  
    Measurement period adjustment 
     (221)
  
    Balance as of December 31, 2024 
    $2,321 

(1)Net of accumulated impairment loss of $1,182 as of December
31, 2022.

(2)Net of accumulated impairment loss of $1,992 as of December
31, 2023.

F-18

STRAN & COMPANY, INC.

NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS

(in thousands, except share and per share amounts)

The following table presents details
of the Company’s intangible assets, estimated lives and related accumulated amortization:

      Weighted-Average   As of December 31, 2024     As of December 31, 2023         Remaining 
Useful Life   Gross     Accumulated Amortization     Net Carrying Amount     Gross     Accumulated Amortization     Net Carrying Amount    Customer lists   8.6 years   $ 5,175     $ (1,005 )   $ 4,170     $ 3,716     $ (602 )   $ 3,114    Total intangible assets - customer lists, net       $ 5,175     $ (1,005 )   $ 4,170     $ 3,716     $ (602 )   $ 3,114    Trade names   Indefinite   $ 654     $ —     $ 654     $ —     $ —     $ —    Total intangible assets - trade name       $ 654     $ —     $ 654     $ —     $ —     $ —   

The Company recorded amortization expense
of $403 and $294 for the years ended December 31, 2024 and 2023,
respectively.

The following table presents future