Company: SWAGW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001213900-25-011872
Chunk: 16

Company: Stran & Company, Inc.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part I, Item 1
Chunk 16
---
 on investment and corresponding other comprehensive income (loss) for the three months ended March 31,
2023.

* Represents revision for immaterial
error correction. 

13

The following tables summarize the
effect of the restatement on each financial statement line item as of the dates indicated:

    Balance Sheet as of March 31, 2023 
    As Reported  
    Adjustment  
    As Restated  
    Reference
  
    Cash and cash equivalents 
    $10,597  
    $69  
    $10,666  
    *
  
    Investments 
     10,269  
     (69) 
     10,200  
    *
  
    Accounts receivable, net 
     11,915  
     (303) 
     11,612  
    4
  
    Deferred income taxes 
     1,205  
     (1,205) 
     —  
    3
  
    Inventory 
     5,666  
     (632) 
     5,034  
    6,8
  
    Prepaid corporate taxes 
     87  
     (51) 
     36  
    3
  
    Total current assets 
     41,523  
     (2,191) 
     39,332  
    3,4,6,8,*

    Intangible assets, net 
     5,655  
     (3,473) 
     2,182  
    1
  
    Goodwill 
     —  
     90  
     90  
    1,2
  
    Other assets 
     —  
     23  
     23  
    1
  
    Right of use asset - office leases 
     776  
     77  
     853  
    1
  
    Total other assets 
     6,431  
     (3,283) 
     3,148  
    1,2
  
    Total assets 
    $49,147  
    $(5,474) 
    $43,673  
    1,2,3,4,6,8,*

    Accounts payable and accrued expenses 
    $2,938  
    $(23) 
    $2,915  
    3