Company: SWAGW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001213900-25-011872
Chunk: 243

Company: Stran & Company, Inc.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part II, Item 8
Chunk 243
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 years, based on continued employment, and are settled upon vesting with shares of the Company’s common stock on a one-for-one
basis. PSUs granted under the 2021 Plan are issued and vest immediately as various performance goals and targets are achieved. 

23

A summary of restricted stock
activity under the 2021 Plan as of and for the three months ended March 31, 2024 is presented below:

    Restricted Stock 
    Time-Based 
  
    Outstanding at December 31, 2023 
     15,736 
  
    Granted 
     54,086 
  
    Vested 
     (50,086)
  
    Forfeited 
     (83)
  
    Outstanding at March 31, 2024 
     19,653 

O.LOSS PER SHARE:

The following outstanding shares of
common stock equivalents were excluded from the computation of diluted net loss per share for the periods in which a net loss is presented
because their effect would have been anti-dilutive.

    March 31,
    2024  
    March 31,
    2023 

    (Restated) 
  
    Warrants 
     10,074,195  
     10,074,195 
  
    Stock options 
     864,167  
     530,730 

     10,938,362  
     10,604,925 

For the three months ended March 31,
2024 and 2023, as a result of the net losses in these periods, all warrants and stock options have been excluded from the calculation
of diluted earnings per share and, therefore, there was no difference in the weighted average number of common shares for basic and diluted
loss per share as the effect of all potentially dilutive shares outstanding was anti-dilutive.

P.CREDIT LOSSES:

The Company is exposed to credit losses
primarily through sales of products and services. The Company’s expected loss allowance methodology for accounts receivable is
developed using historical collection experience, current and future economic and market conditions and a review of the current status
of customers’ trade accounts receivable. Customers are pooled based on sharing specific risk factors. Due to the short-term nature of
such receivables, the estimated accounts receivable that may not be collected is based on aging of the accounts receivable balances. 

Customers are assessed for credit
worthiness upfront through a credit review,