Company: SWAGW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-074995
Chunk: 360

Company: Stran & Company, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part II, Item 8
Chunk 360
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 default. The Company monitors changes to the receivables balance on a timely basis, and balances are
written off as they are determined to be uncollectible after all collection efforts have been exhausted. Estimates of potential credit
losses are used to determine the allowance. It is based on assessment of anticipated payment and all other historical, current and future
information that is reasonably available. 

The accounts receivable balance from
all sources on the Company’s consolidated balance sheets as of June 30, 2025 was $22,465, net of $1,151 (inclusive of $427
for related party receivables) of allowances. The following table provides a roll-forward of the allowance for credit losses for the
six months ended June 30, 2025 and 2024 that is deducted from the amortized cost basis of accounts receivable to present the net amount
expected to be collected:

    June 30, 2025  
    June 30, 2024 
  
    Balance of allowance for credit losses, beginning of period 
    $(791) 
    $(317)
  
    Current period change 
     238  
     167 
  
    Current period change for expected credit losses 
     (598) 
     (288)
  
    Balance of allowance for credit losses, end of period 
    $(1,151) 
    $(438)

Q.RELATED PARTY TRANSACTIONS:

Amount due from related party

  Name of Related Party  Relationship  Nature  June 30, 
2025   December 31, 
2024   Innovative Genetics, Inc.  Alejandro Tani, former member of board of directors, the former chairman of the Company’s Nominating and Corporate Governance Committee, and a former member of the Compensation Committee and the Company’s Audit Committee, is the Chief Executive Officer, Chief Information Officer, and majority owner of Innovative Genetics.  Limited, non-exclusive, revocable license to use Innovative Genetics’ logos, trade name and trademarks on apparel and promotional products as branded products for sale to Innovative Genetics and Innovative Genetics-authorized persons.  $402   $573  

Amounts due and paid to related
party

Transactions with Engage &
Excel Enterprises Inc.

Alan Chippindale, a member of the
Company’s board of directors, the chairman of the Compensation Committee, and a member of the Nominating and Corporate Governance Committee,
is the President of Engage & Excel Enterprises Inc. (“Engage & Excel