Company: SWAGW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001213900-25-011877
Chunk: 309

Company: Stran & Company, Inc.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part II, Item 8
Chunk 309
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 30,  
    Six months ended
 June 30, 

    2024  
    2023  
    2024  
    2023 
  
    Lease cost 
       
    (Restated)  
       
    (Restated) 
  
    Operating lease cost 
    $154  
    $137  
    $326  
    $265 
  
    Total 
    $154  
    $137  
    $326  
    $265 

The following schedule represents maturities of operating
lease liabilities as of June 30, 2024: 

    Operating Minimum Lease Payments 
  
    Remainder of 2024 
    $287 
  
    2025 
     361 
  
    2026 
     189 
  
    2027 
     185 
  
    2028 
     65 
  
    Thereafter 
     — 
  
    Total payments 
     1,087 
  
    Less amount representing interest 
     (18)
  
    Present value of payments 
    $1,069 

The following schedule sets forth supplemental
cash flow information related to operating leases for the three and six months ended June 30, 2024 and 2023 : 

    Three months ended
 June 30,  
    Six months ended
 June 30, 

    2024  
    2023  
    2024  
    2023 
  
    Other information 
       
    (Restated)  
       
    (Restated) 
  
    Operating cash flows from operating lease 
    $—  
    $1,034  
    $—  
    $1,034 

The aggregate weighted average remaining lease term was 3.04 years as of June 30, 2024. The aggregate weighted average discount rate
was 3.38% as of June 30, 2024.

L.NOTE PAYABLE - LINE OF CREDIT:

The Company has a $7,000 line of credit
with Salem Five Cents Savings Bank. As of June 30, 2024 and December 31, 2023, borrowings on this line of credit amounted to zero.
The line bears interest at prime rate plus 0.5% per annum. At June 30, 2024 and December 31