Company: SWAGW
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0001213900-25-021742
Chunk: 138

Company: Stran & Company, Inc.
Filing Date: 2025-03-07
Form: 10-Q
Item: Part I, Item 1
Chunk 138
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 member of our Audit Committee.

T.ADVERTISING:

The Company follows the policy of charging
the costs of advertising to expense as incurred. For the three months ended September 30, 2024 and 2023, advertising costs amounted to
$148 and $59, respectively. For the nine months ending September 30, 2024 and 2023, advertising costs amounted to $342 and $366, respectively.

U.SUBSEQUENT EVENTS:

Operating Lease Agreement

On January 10, 2025, the Company entered
into a seven-year lease agreement for new office space in North Quincy, Massachusetts. The Company’s existing lease agreement for its
office space expires May 31, 2025. The new lease term begins on June 1, 2025 and expires on May 31, 2032 with an option to extend the
lease an additional five years. The lease contains an initial base rent of $21 per month with 2.2% - 2.5% annual escalations, plus a percentage
of taxes and operating expenses incurred by the lessor in connection with the ownership and management of the property.

31

 ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. 

The following management’s discussion
and analysis of financial condition and results of operations provides information that management believes is relevant to an assessment
and understanding of our plans and financial condition. The following financial information is derived from our financial statements and
should be read in conjunction with such financial statements and notes thereto set forth elsewhere herein.

Use of Terms

Except as otherwise indicated by the context and
for the purposes of this report only, references in this report to “we,” “us,” “our,” and the “Company”
are to Stran & Company, Inc., a Nevada corporation, and its consolidated subsidiaries; references to “Stran” or “Stran
& Company, Inc.” are to Stran & Company, Inc., a Nevada corporation; and references to “Stran Loyalty Solutions”
or “SLS” are to Stran Loyalty Solutions, LLC, a Nevada limited liability company and a wholly-owned subsidiary of Stran &
Company, Inc.

Special Note Regarding Forward-Looking Statements

This report contains forward-looking statements
that are based on our management’s beliefs and assumptions and on information currently available to us. All statements other than
statements of historical facts are forward-looking statements. These statements relate to future events or to