Company: SWAGW
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0001213900-25-021742
Chunk: 31

Company: Stran & Company, Inc.
Filing Date: 2025-03-07
Form: 10-Q
Item: Part II, Item 8
Chunk 31
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on terms of 12 months or less or on a month-to-month basis which are not included in the analysis above.

The following schedule represents the
components of lease expense: 

    Three Months Ended
 September 30,  
    Nine Months Ended
 September 30, 

    2024  
    2023  
    2024  
    2023 
  
    Lease cost 
       
    (Restated)  
       
    (Restated) 
  
    Operating lease cost 
    $176  
    $152  
    $502  
    $417 
  
    Total 
    $176  
    $152  
    $502  
    $417 

25

STRAN & COMPANY,
INC.
NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(in thousands, except share and per share amounts)

The following schedule represents maturities of operating
lease liabilities as of September 30, 2024: 

    Operating
 Minimum
 Lease
 Payments 
  
    Remainder of 2024 
    $198 
  
    2025 
     361 
  
    2026 
     189 
  
    2027 
     185 
  
    2028 
     65 
  
    Total payments 
     998 
  
    Less amount representing interest 
     (64)
  
    Present value of payments 
    $934 

The following schedule sets forth supplemental
cash flow information related to operating leases for the three and nine months ended September 30, 2024 and 2023 : 

    Three Months Ended
 September 30,  
    Nine Months Ended
 September 30, 

    2024  
    2023  
    2024  
    2023 

    (Restated)  
       
    (Restated) 
  
    Other information 

    Operating cash flows from operating lease 
    $—  
    $—  
    $—  
    $1,034 

The aggregate weighted average remaining lease term was 2.79 years as of September 30, 2024. The aggregate weighted average discount
rate was 3.54% as of September 30, 2024.

L.NOTE PAYABLE - LINE OF CREDIT:

The Company had a $7,000 line