Company: SWAGW
Filing Date: 2025-01-22
Form Type: 10-K/A
Source: 0001213900-25-005516
Chunk: 84

Company: Stran & Company, Inc.
Filing Date: 2025-01-22
Form: 10-K/A
Chunk 84
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arang Transaction Closing, the Company indirectly acquired substantially all of the assets of Bangarang, including all of the equity of Gander Group Louisiana, LLC, a Louisiana limited liability company (“GGLA”), which became a wholly-owned subsidiary of Stran Loyalty Solutions. In addition, Stran Loyalty Solutions entered into a Release Agreement, dated as of August 23, 2024, between Bangarang and Stran Loyalty Solutions (the “Release Agreement”). Under the Release Agreement, Bangarang granted a full and complete waiver and release of Stran Loyalty Solutions and its affiliates of any non-competition, non-solicitation, or similar restrictive covenants of any parties owed to Bangarang or any of its affiliates. The agreements included provisions for indemnification, reimbursement for returned items, handling of assets and liabilities during Bangarang’s wind-down, and certain other matters. Annual Executive Bonuses On February 15, 2024, the Company awarded annual bonuses for the fiscal year ended December 31, 2023 to Andrew Shape, David Browner, John Audibert, and Sheila Johnshoy. The bonus compensation is described in Item 11. “ Executive Compensation”. Chief Information Officer Compensation Effective January 2, 2024, Ian Wall became our Chief Information Officer. Mr. Wall’s compensation package is described in Item 11. “ Executive Compensation – Executive Officer Employment and Consulting Agreements – Employment Agreement with Ian Wall”. Emerging Growth Company and Smaller Reporting Company We qualify as an “emerging growth company” under the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). As a result, we are permitted to, and intend to, rely on exemptions from certain disclosure requirements. For so long as we are an emerging growth company, we will not be required to:

| ● | have an auditor report on our internal control over financial reporting pursuant to Section 404(b) of 
 the Sarbanes-Oxley Act;                                                                               |

| ● | present three years, and may instead present only two years, of audited financial statements, with correspondingly         
 reduced “Management’s Discussion and Analysis of Financial Condition and Results of Operations” disclosure in this report; |

| ● | comply with any requirement that may be adopted by the Public Company Accounting Oversight Board regarding                               
 mandatory audit firm rotation or a supplement to the auditor’s report providing additional information about the audit and the financial 
 statements (i.e., an auditor discussion and analysis);                                                                                   |

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