Company: SWAGW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109289
Chunk: 16

Company: Stran & Company, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part II, Item 8
Chunk 16
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 acquisition date. The goodwill represents the excess fair value after the allocation of intangibles, of which approximately $2,321
is expected to be deductible for tax purposes.

The
Company incurred approximately $435 of acquisition related transaction costs in conjunction
with the Gander Group Acquisition.

18

STRAN & COMPANY, INC.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS

(in thousands, except share and per share amounts)

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 nine months ended September 30, 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:

    Sales 
    $85,803 

    Net loss 
    $(32)

The following unaudited pro forma financial
information reflects the amounts of revenue and net loss of Gander Group included in the consolidated results of operations of the Company
for the period from the date of acquisition (August 23, 2024) through September 30, 2024:

    Sales 
    $3,488 

    Net loss 
    $(187)

G.ACCOUNTS PAYABLE AND ACCRUED EXPENSES:

Accounts payable and accrued expenses
consist of the following:

    September 30,
 2025  
    December 31, 
2024 
  
    Inventory purchases 
    $5,427  
    $6,363 
  
    Accrued expenses 
     2,035  
     2,556 

    $7,462  
    $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 September 30, 2025 and December 31, 2024, the Company had reward card program liabilities totaling
$2,951 and $6,000, respectively.

I.INSTALLMENT PAYMENT LIABILITIES:

The installment payment liabilities
incurred in connection with certain of the Company’s asset acquisitions were initially measured