Company: SWAGW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001213900-25-011877
Chunk: 0

Company: Stran & Company, Inc.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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ITEM 1. FINANCIAL STATEMENTS.

STRAN & COMPANY, INC.

UNAUDITED CONDENSED FINANCIAL STATEMENTS

    Page

    Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 
    2
  
    Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 (unaudited) (Restated) 
    3
  
    Statements of Comprehensive (Loss) Income for the Three and Six Months Ended June 30, 2024 and 2023 (unaudited) (Restated) 
    4
  
    Statements of Stockholders’ Equity for the Three and Six Months Ended June 30, 2024 and 2023 (unaudited) (Restated) 
    5
  
    Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 (unaudited) (Restated) 
    6
  
    Notes to Unaudited Condensed Financial Statements (unaudited) (Restated) 
    8

1

STRAN & COMPANY, INC.

BALANCE SHEETS

(in thousands, except share and per share amounts)

    June 30,
 2024  
    December 31, 
2023 
  
    ASSETS 

    CURRENT ASSETS: 

    Cash and cash equivalents 
    $11,874  
    $8,059 
  
    Investments 
     9,603  
     10,393 
  
    Accounts receivable, net 
     12,015  
     16,223 
  
    Accounts receivable - related parties 
     828  
     853 
  
    Inventory 
     3,974  
     4,782 
  
    Prepaid corporate taxes 
     32  
     62 
  
    Prepaid expenses 
     617  
     953 
  
    Deposits 
     1,910  
     1,717 
  
    Total current assets 
     40,853  
     43,042 

    Property and equipment, net 
     1,715  
     1,521 

    OTHER ASSETS: 

    Intangible assets - customer lists, net 
     2,943  
     3,114 
  
    Other assets