Company: SWAGW
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0001213900-25-021742
Chunk: 126

Company: Stran & Company, Inc.
Filing Date: 2025-03-07
Form: 10-Q
Item: Part I, Item 1
Chunk 126
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 Assets were valued using a combination of a multi-period excess earnings methodology, a discounted cash flow approach
and present value of cash flows approach. The goodwill represents the excess fair value after the allocation of intangibles, of which
approximately $420 is expected to be deductible for tax purposes.

The
Company incurred approximately $39 of acquisition related transaction costs in conjunction with the T R Miller Acquisition.

Pro forma disclosure for the T R Miller Acquisition

The following unaudited pro forma financial
information reflects the consolidated results of operations of the Company for the nine months ended September 30, 2023, as if the T R
Miller Acquisition had taken place on January 1, 2023. The financial results of the T R Miller Acquisition are included in the Company’s
statements of operation for the three and nine months ended September 30, 2024 and for the three months ended September 30, 2023. The
pro forma financial information is not necessarily indicative of the results of operations as they would have been had the transactions
been effected on the assumed date:

    September 30,
 2023 
  
    Sales 
    $58,224 
  
    Costs of sales 
     39,684 
  
    Gross profit 
     18,540 
  
    Operating expenses 
     19,390 
  
    Loss from operations 
     (850)
  
    Other income (expense) 

    Other income 
     239 
  
    Interest income (expense), net 
     479 
  
    Realized gain (loss) on investments 
     98 

     816 
  
    Loss before taxes 
     (34)
  
    Provision for income taxes 
     15 
  
    Net loss 
    $(49)

    Net loss per share - basic & diluted 
    $— 
  
    Weighted average shares outstanding - basic & diluted 
     18,514,875 

23

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

H.ACCOUNTS PAYABLE AND ACCRUED EXPENSES:

Accounts payable and accrued expenses
consists of the following:

    September 30,  2024  
    December 31, 2023 
  
    Inventory purchases 
    $4,721  
    $3,218 
  
    Accrued expenses