Company: SWAGW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001213900-25-011872
Chunk: 22

Company: Stran & Company, Inc.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 11  
     757 
  
    US Treasury bills 
     5,277  
     (25) 
     5,252 

    $10,790  
    $(80) 
    $10,710 

Earn-Out Liabilities

For the three months ended March 31,
2024 and 2023 the Company did not recognize any change in fair value of contingent earn-out liability as it was deemed immaterial in
both periods.

D.INVENTORY:

Inventory consists of the following:

    March 31,
 2024  
    December 31, 
2023 
  
    Finished goods (branded products) 
    $3,108  
    $4,182 
  
    Goods in process (un-branded products) 
     1,123  
     600 

    $4,231  
    $4,782 

E.PROPERTY AND EQUIPMENT, NET:

Property and equipment, net consists
of the following:

    March 31, 
2024  
    December 31, 
2023 
  
    Leasehold improvements 
    $6  
    $6 
  
    Office furniture and equipment 
     568  
     558 
  
    Software 
     2,644  
     2,468 
  
    Transportation equipment 
     62  
     62 

     3,280  
     3,094 
  
    Accumulated depreciation 
     (1,616) 
     (1,573)

    $1,664  
    $1,521 

The Company recorded depreciation
expense of $43 and $92 for the three months ended March 31, 2024 and 2023, respectively.

17

F.INTANGIBLE ASSETS:

The following table presents details
of the Company’s intangible assets, estimated lives and related accumulated amortization:

    As of March 31, 2024  
    As of December 31, 2023 

    Estimated 
Useful Life 
    Gross  
    Accumulated 
Amortization  
    Net Carrying 
Amount  
    Gross  
    Accumulated 
Amortization  
    Net Carrying 
Amount 
  
    Customer lists 
    10 - 12 years 
    $3,716  
    $(687) 
    $3,029  
    $3,716