Company: SWAGW
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0001213900-25-021742
Chunk: 35

Company: Stran & Company, Inc.
Filing Date: 2025-03-07
Form: 10-Q
Item: Part II, Item 8
Chunk 35
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 for the nine months ended September 30, 2024 is presented below:

    Restricted Stock 
    Time-Based 
  
    Outstanding at January 1, 2024 
     15,736 
  
    Granted 
     54,086 
  
    Vested 
     (50,086)
  
    Forfeited 
     (249)
  
    Outstanding at September 30, 2024 
     19,487 

28

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

P.EARNINGS (LOSS) PER SHARE:

The following outstanding shares of
common stock equivalents were excluded from the computation of diluted net loss per share for the periods in which a net loss is presented
because their effect would have been anti-dilutive.

    Three and Nine Months
 Ended
 September 30,
 2024  
    Nine Months
 Ended September 30,
 2023 

    (Restated) 
  
    Warrants 
     10,074,195  
     10,074,195 
  
    Stock options 
     955,334  
     630,228 

     11,029,529  
     10,704,423 

For the three and nine months ended
September 30, 2024, and for the nine months ended September 30, 2023, as a result of the net losses in these periods, all warrants and
stock options have been excluded from the calculation of diluted earnings per share and, therefore, there was no difference in the weighted
average number of common shares for basic and diluted loss per share as the effect of all potentially dilutive shares outstanding was
anti-dilutive.

The following table presents the computation
of basic and diluted earnings per share for the three months ended September 30, 2023:

     Three Months Ended  September 30, 2023      (Restated)      Net income   Shares   Net income  $1,265    18,534,772   Basic earnings per share       $0.07                Effect of dilutive securities:            Warrants   —    10,074,195   Stock options   —    630,228