Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 2639

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 14
Chunk 2639
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, 2024,
based on the present value of payments and an incremental borrowing rate of 8%. As the Company’s lease did not provide an implicit
rate, the Company estimated the incremental borrowing rate based on the credit quality of the Company and by comparing interest rates
available in the market for similar borrowings.

The company rents other office space
on terms of 12 months or less or on a month-to-month basis which are not included in the analysis above.

The following schedule represents the
components of lease expense: 

    December 31, 2024  
    December 31, 2023 
  
    Lease cost 

    Operating lease cost 
    $743  
    $537 
  
    Total 
    $743  
    $537 

The following schedule represents maturities of operating
lease liabilities as of December 31, 2024: 

    Operating Minimum Lease Payments 
  
    2025 
    $361 
  
    2026 
     189 
  
    2027 
     185 
  
    2028 
     65 
  
    Less amount representing interest 
     (2)
  
    Present value of payments 
    $798 

The following schedule sets forth supplemental
cash flow information related to operating leases for the years ended December 31, 2024 and 2023 :

    December 31, 2024  
    December 31, 2023 
  
    Other information 

    Operating cash flows from operating lease 
    $12  
    $8 

The aggregate weighted average remaining lease term was 2.7 years as of December 31, 2024. The aggregate weighted average discount
rate was 3.7% as of December 31, 2024.

F-25

STRAN & COMPANY, INC.

NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS

(in thousands, except share and per share amounts)

N.STOCKHOLDERS’ EQUITY:

Common Stock

In accordance with the Company’s
Articles of Incorporation dated May 24, 2021, the Company is authorized to issue 300,000,000 shares of $0.0001 par value common stock,
of which 18,598,574 and 18,539,000 shares were issued and outstanding at December 31, 2024 and 2023, respectively. Common stockholders
are entitled to one vote per