Company: SWAGW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001213900-25-011877
Chunk: 29

Company: Stran & Company, Inc.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part I, Item 1
Chunk 29
---
, of which
approximately $420 is expected to be deductible for tax purposes.

The
Company incurred approximately $39 of acquisition related transaction costs in conjunction with the T R Miller Acquisition.

Pro forma disclosure for the T R Miller Acquisition

The following unaudited pro forma financial
information reflects the consolidated results of operations of the Company for the six months ended June 30, 2023, as if the T R Miller
Acquisition had taken place on January 1, 2023. The financial results of the T R Miller Acquisition are included in the Company’s
statements of operation for the three and six months ended June 30, 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: 

20

STRAN & COMPANY, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

(in thousands, except share and per share amounts)

    June 30,
 2023 
  
    Sales 
    $41,125 
  
    Costs of sales 
     28,120 
  
    Gross profit 
     13,005 
  
    Operating expenses 
     14,259 
  
    Loss from operations 
     (1,254)
  
    Other income (expense) 

    Other income 
     36 
  
    Interest income (expense), net 
     187 
  
    Realized gain (loss) on investments 
     73 

     296 
  
    Loss before taxes 
     (958)
  
    Provision for income taxes 
     3 
  
    Net loss 
     (961)

    Net loss per share - basic & diluted 
    $(0.05)
  
    Weighted average shares outstanding - basic & diluted 
     18,540,648 

H.ACCOUNTS PAYABLE AND ACCRUED EXPENSES:

Accounts payable and accrued expenses
consists of the following:

    June 30,
 2024  
    December 31,
 2023 
  
    Cost of sales - purchases 
    $3,027  
    $3,218 
  
    Other payables and accrued expenses 
     848  
     1,527 

    $3,875  
    $4,745 

I.INSTALLMENT PAYMENT LIABILITY:

A reconciliation of the installment
payment liability is included below:

    Balance as of