Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 53

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 1
Chunk 53
---
.

On January 10, 2025, the Company received a letter
from the Staff notifying it that since the Company has not yet held an annual meeting of stockholders within twelve months of the end
of the Company’s fiscal year end, it no longer complies with Nasdaq Listing Rule 5620(a) (the “Annual Meeting Rule”).
Accordingly, this matter serves as an additional basis for delisting the Company’s securities from Nasdaq. The Staff indicated that
the letter was formal notification that the Hearings Panel would consider this matter in rendering a determination regarding the Company’s
continued listing on The Nasdaq Capital Market.

On January 27, 2025, the Company received a letter
from the Staff notifying the Company that it was not in compliance with the minimum bid price requirement set forth in Nasdaq Listing
Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market tier of Nasdaq (the “Bid Price Rule”). The letter also
indicated that the Company had a compliance period of 180 calendar days, or until July 28, 2025 (the “Compliance Period”),
in which to regain compliance pursuant to Nasdaq Listing Rule 5810(c)(3)(A). The Notification Letter further provided that if, at any
time during the Compliance Period, the Company’s common stock closing bid price is at $1.00 for a minimum of ten consecutive business
days, the Staff would provide the Company with written confirmation of compliance and this matter would be closed.

At the hearing held on February 11, 2025 by the
Hearings Panel, the Company presented its plan for regaining compliance with the Filing Rule and the Annual Meeting Rule, and requested
a further extension so that the Company may complete the execution of the plan. On March 3, 2025, the Hearings Panel informed the Company
that it determined to grant the Company’s request to continue its listing on Nasdaq subject to three conditions. The first was that
the Company become current on its financial filings. The second was that the Company meet the Nasdaq minimum closing bid price requirement.
The third was that the Company hold its annual shareholder meeting for 2024.

In accordance with the Company’s presentation
at the hearing, on February 11, 2025, the Company filed its Quarterly Reports on Forms 10-Q for the periods ended March 31, 2024 and June
30, 2024. On March 7