Company: SWAGW
Filing Date: 2025-01-22
Form Type: 10-K/A
Source: 0001213900-25-005516
Chunk: 162

Company: Stran & Company, Inc.
Filing Date: 2025-01-22
Form: 10-K/A
Chunk 162
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 use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities:

| Level 1: | Quoted prices in active markets for identical                                                                                          
 assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur   
 with sufficient frequency and volume to provide pricing information on an ongoing basis.                                               |
| Level 2: | Observable inputs other than Level 1 inputs. Examples of Level 2                                                                       
 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities 
 in markets that are not active.                                                                                                        |
| Level 3: | Unobservable inputs based on our assessment of the assumptions that                                                                    
 market participants would use in pricing the asset or liability.                                                                       |

F-9 STRAN & COMPANY, INC.
NOTES TO THE RESTATED FINANCIAL STATEMENTS
(in thousands, except share and per share amounts)

The carrying value of certain financial instruments, including cash and cash equivalents, accounts receivable, accounts payable and note payable - Wildman are carried at historical cost basis, which approximates their fair values because of the short-term nature of these instruments.

| 7. | Investments - The Company’s investments consist of U.S. treasury bills, corporate bonds, mutual funds, and money market funds. Investments are classified as available-for-sale, recorded at fair value and considered current on the balance sheet. |

| 8. | Concentration of Credit Risk - Financial instruments that potentially subject the Company to concentrations                            
 of credit risk consist primarily of accounts receivable and deposits in excess of federally insured limits. These risks are managed by 
 performing ongoing credit evaluations of customers’ financial condition and by maintaining all deposits in high quality financial      
 institutions.                                                                                                                          |

During the years ended December 31, 2023 and 2022, the Company maintained deposits in three banks that exceeded the federal insured deposit limit of the Federal Deposit Insurance Corporation (FDIC).

For the year ended December 31, 2023, the Company had one major customer to which sales accounted for approximately 14.4% of the Company’s revenues. The Company had accounts receivable from this customer amounting to 0.8% of the total accounts receivable balance.

For the year ended