Company: SWAGW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044222
Chunk: 8

Company: Stran & Company, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 8
---
 Securities and Exchange Commission on April 14, 2025.

Certain information and footnote disclosures
normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or
omitted pursuant to such rules and regulations, and we believe that the disclosures are adequate to make the information presented not
misleading. In our opinion, all adjustments (consisting solely of normal recurring adjustments) necessary to state fairly the information
in the following unaudited condensed consolidated financial statements of the Company have been included. The results of operations for
interim periods are not necessarily indicative of the results for the full year.

5.Principles of Consolidation - The Company’s consolidated financial statements include the accounts
of its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

6.Use of Estimates - The preparation of financial statements in conformity
with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts
and disclosure of certain assets, liabilities and expenses. The most significant estimates in the Company’s financial statements
relate to the fair value of assets and liabilities assumed in acquisitions. These estimates and assumptions are based on current facts,
historical experience and various other factors believed to be reasonable under the circumstances, the results of which form the basis
for making judgments about the carrying values of assets and liabilities and the recording of expenses that are not readily apparent from
other sources. Actual results may differ materially and adversely from these estimates. To the extent there are material differences between
the estimates and actual results, the Company’s future results of operations will be affected.

8

STRAN & COMPANY, INC.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS

(in thousands, except share and per share amounts)

7.Fair Value Measurements and Fair Value of Financial Instruments - The Company follows the guidance in
ASC 820 for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period. 

The fair value of the Company’s
financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with
the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants
at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the
use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions
about how market participants