Company: SWAGW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109289
Chunk: 126

Company: Stran & Company, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 126
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(100)
  
    Balance of allowance for credit losses, end of period 
    $(1,162) 
    $(360)

Q. RELATED PARTY TRANSACTIONS:

Amount due from related party

  Name of Related Party  Relationship  Nature  September 30, 
2025   December 31, 2024   Innovative Genetics, Inc.  Alejandro Tani, former member of board of directors, the former chairman of the Company’s Nominating and Corporate Governance Committee, and a former member of the Compensation Committee and the Company’s Audit Committee, is the Chief Executive Officer, Chief Information Officer, and majority owner of Innovative Genetics.  Limited, non-exclusive, revocable license to use Innovative Genetics’ logos, trade name and trademarks on apparel and promotional products as branded products for sale to Innovative Genetics and Innovative Genetics-authorized persons.  $402   $573  

Amounts due and paid to related
parties

Alan Chippindale, a member of the Company’s
board of directors, the chairman of the Compensation Committee, and a member of the Nominating and Corporate Governance Committee, is
the President of Engage & Excel Enterprises Inc. (“Engage & Excel”). Engage & Excel provides certain merger and
acquisition, management and recruitment consulting services to the Company. The Company has paid Engage & Excel for consulting services
provided approximately $26 for the nine month period ending September 30, 2025 and $26 for the year ending December 31, 2024.

During the three months ending September
30, 2025, the Company entered into a stock purchase agreement with Andrew Shape, the Company’s President, Chief Executive Officer
and a member of its Board of Directors, to repurchase 100,000 shares of the Company’s common stock at a price of $1.47 per share,
for an aggregate purchase price of $147. The repurchase is being effected under, and will count toward, the Company’s previously
disclosed stock repurchase program authorized by the board of directors on February 21, 2022, which permits the Company to repurchase
up to $10 million of its outstanding common stock (see Note L, “Stockholders’ Equity” to the unaudited condensed consolidated
financial statements included in this report).

27

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