Company: SWAGW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001213900-25-011872
Chunk: 238

Company: Stran & Company, Inc.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part II, Item 8
Chunk 238
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,574,748 

19

H.ACCOUNTS PAYABLE AND ACCRUED
                                            EXPENSES:

Accounts payable and accrued expenses
consists of the following:

    March 31, 2024  
    December 31, 
2023 
  
    Cost of sales - purchases 
    $1,974  
    $3,218 
  
    Other payables and accrued expenses 
     1,373  
     1,527 

    $3,347  
    $4,745 

I.INSTALLMENT PAYMENT LIABILITY:

A reconciliation of the installment
payment liability is included below:

    Balance as of December 31, 2023 
    $1,425 
  
    Additions pursuant to acquisitions 
     — 
  
    Interest accretion 
     55 
  
    Payments made 
     (60)
  
    Balance as of March 31, 2024 
    $1,420 

    Current portion of installment payment liabilities 
    $781 
  
    Long-term installment payment liabilities 
    $639 

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 31,
 2024  
    March 31,
 2023 

    (Restated) 
  
    Promotional products - dropshipping 
    $8,412  
    $6,123 
  
    Promotional products – Company owned inventory 
     2,599  
     4,687 
  
    Promotional products – bulk dropshipping 
     5,765  
     2,867 
  
    Promotional products – third-party distributor 
     1,674  
     1,930 
  
    Rewards program 
     285  
     289 
  
    Additional services 
     92  
     75 

    $18,827  
    $15,971 

20

Unearned revenue includes customer
deposits and deferred revenue which represent prepayments from customers. The Company had unearned revenue as follows:

    March 31,
    2024  
    March 31,
    2023 

    (Restated) 
  
    Balance at January 1, 
    $1,116  
    $633 
  
    Revenue