Company: SWAGW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001213900-25-011872
Chunk: 82

Company: Stran & Company, Inc.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part I, Item 2
Chunk 82
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 cash used by operating activities of approximately
$3.6 million for the three months ended March 31, 2023. The increase in net cash provided by operating activities was primarily due to
an increase in rewards program liability and a decrease in accounts receivable.

Net cash used in investing activities was approximately
$0.6 million for the three months ended March 31, 2024, as compared to approximately $0.6 million for the three months ended March 31,
2023. The slight decrease in net cash used in investing activities was primarily due to increased proceeds from the sale of investments,
partially offset by increased purchases of investments.

Net cash used in financing activities
was approximately $60 thousand for the three months ended March 31, 2024, as compared to approximately $0.4 million for the three months
ended March 31, 2023. The decrease in net cash used in financing activities was primarily due to reduced payments of contingent earn-out
liabilities and installment payment liabilities.

33

Stock Repurchase Program

As initially announced
on February 23, 2022, under our stock repurchase program, we may repurchase up to $10.0 million of our outstanding shares of common stock
from time to time in the open market, in accordance with all applicable securities laws and regulations, including Rule 10b-18 as promulgated
under the Exchange Act (“Rule 10b-18”). Our decision to repurchase our shares, as well as the timing of such repurchases,
will depend on a variety of factors that include ongoing assessments of our capital needs, market conditions and the price of our common
stock, and other corporate considerations, as determined by management. Repurchases will also only be made in accordance with the Company’s
insider trading policy as if such purchases were made by a person covered by the policy. Our insider trading policy generally permits
insider purchases of our stock only during the period beginning on the second business day following the day of public release of our
quarterly or annual earnings and ending on the last day of the then-current quarter. There is no defined number of shares to be
repurchased over a specified timeframe through the life of the stock repurchase program. The repurchase authorization has no expiration
date but may be suspended or discontinued at any time. Stock repurchases are paid using cash generated by operations.

In connection with our stock repurchase program,
on May 23, 2022, we announced