Company: SWAGW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044222
Chunk: 256

Company: Stran & Company, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 8
Chunk 256
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 transaction costs in conjunction
with the Gander Group Acquisition.

Pro forma disclosure for the Gander Group Acquisition

The following unaudited pro forma financial
information reflects the consolidated results of operations of the Company for the three months ended March 31, 2024, as if the Gander
Group Acquisition had taken place on January 1, 2024. The pro forma financial information is not necessarily indicative of the results
of operations as they would have been had the transactions been effected on the assumed date:

    March 31,  2024 
  
    Sales 
    $35,461 

    Net income 
     646 

16

STRAN & COMPANY, INC.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS

(in thousands, except share and per share amounts)

G.ACCOUNTS PAYABLE AND ACCRUED EXPENSES:

Accounts payable and accrued expenses
consists of the following:

    March 31,  2025  
    December 31,  2024 
  
    Inventory purchases 
    $6,455  
    $6,363 
  
    Accrued expenses 
     2,538  
     2,556 

    $8,993  
    $8,919 

H.REWARD CARD PROGRAM LIABILITY:

The Company
manages reward card programs for customers. Under this program, the Company receives cash and simultaneously records a liability for the
total amount received. These accounts are adjusted on a periodic basis as reward cards are funded or reduced at the direction of the customers.
As of March 31, 2025 and December 31, 2024, the Company had deposits totaling $875
and $6,000, respectively.

I.INSTALLMENT PAYMENT LIABILITY:

A reconciliation of the installment
payment liability is included below:

    Balance as of December 31, 2024 
    $790 
  
    Interest accretion 
     12 
  
    Payments made 
     (40)
  
    Balance as of March 31, 2025 
    $762 

    Current portion of installment payment liabilities 
    $337 
  
    Long-term installment payment liabilities 
    $425 

J.REVENUE:

Revenue disaggregated according to
the timing of transfer of goods or services (e.g., at a point in time) was as follows:

    Revenue generated per major product category 
    March