Company: SWAGW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044222
Chunk: 21

Company: Stran & Company, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 21
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NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS

(in thousands, except share and per share amounts)

G.ACCOUNTS PAYABLE AND ACCRUED EXPENSES:

Accounts payable and accrued expenses
consists of the following:

    March 31,  2025  
    December 31,  2024 
  
    Inventory purchases 
    $6,455  
    $6,363 
  
    Accrued expenses 
     2,538  
     2,556 

    $8,993  
    $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 March 31, 2025 and December 31, 2024, the Company had deposits totaling $875
and $6,000, respectively.

I.INSTALLMENT PAYMENT LIABILITY:

A reconciliation of the installment
payment liability is included below:

    Balance as of December 31, 2024 
    $790 
  
    Interest accretion 
     12 
  
    Payments made 
     (40)
  
    Balance as of March 31, 2025 
    $762 

    Current portion of installment payment liabilities 
    $337 
  
    Long-term installment payment liabilities 
    $425 

J.REVENUE:

Revenue disaggregated according to
the timing of transfer of goods or services (e.g., at a point in time) was as follows:

    Revenue generated per major product category 
    March 31,  2025  
    March 31,  2024 
  
    Promotional products - dropshipping 
    $9,185  
    $8,412 
  
    Promotional products – bulk dropshipping 
     6,331  
     5,765 
  
    Promotional products – Company owned inventory 
     2,894  
     2,599 
  
    Casino continuity program 
     7,368  
     — 
  
    Promotional products – third-party distributor 
     2,595  
     1,674 
  
    Rewards program 
     226  
     285