Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1110

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 5
Chunk 1110
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, 

    2024 (in thousands)  
    2023 (in thousands) 
  
    Net cash provided by (used in) operating activities 
    $2,760  
    $(2,550)
  
    Net cash used in investing activities 
     (533) 
     (3,736)
  
    Net cash used in financing activities 
     (928) 
     (909)
  
    Net increase (decrease) in cash 
     1,299  
     (7,195)
  
    Cash and cash equivalents - beginning 
     8,059  
     15,254 
  
    Cash and cash equivalents - ending 
    $9,358  
    $8,059 

Net cash provided by operating activities was
approximately $2.8 million for the year ended December 31, 2024, as compared to net cash used in operating activities of approximately
$2.6 million for the year ended December 31, 2023. The change was primarily due to an increase in rewards program liability.

Net cash used in investing activities was approximately
$0.5 million for the year ended December 31, 2024, as compared to net cash used in investing activities of approximately $3.7 million
for the year ended December 31, 2023. The change was primarily due to increased proceeds from the sale of investments, partially offset
by increased purchases of investments.

Net cash used in financing activities was approximately $0.9 million
for the year ended December 31, 2024, as compared to approximately $0.9 million for the year ended December 31, 2023. The increase in
net cash used in financing activities was primarily due to reduced payments of contingent earn-out liabilities of approximately $0.6 million
and increased payments of installment payment liabilities of approximately $0.6 million.

Debt

On November
22, 2021, we entered into the Revolving Demand Line of Credit Loan Agreement, dated as of November 22, 2021 (the “Initial
Loan Agreement”), between the Company and Salem Five Cents Savings Bank, a Massachusetts savings bank (“Salem Five
Cents”), for a revolving line of credit (the “Revolving Line of Credit”), consisting
of aggregate loans of up to $7.0 million, evidenced by the Revolving Demand Line of Credit Note, dated November 22