Company: SWAGW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-074995
Chunk: 9

Company: Stran & Company, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 9
---
 and six months ended June 30, 2025, include the accounts of the Company and have been prepared by the Company, without audit,
pursuant to the rules and regulations of the Securities and Exchange Commission. These unaudited condensed consolidated financial statements
should be read in conjunction with the audited financial statements and the notes thereto included in our Annual Report on Form 10-K filed
with the Securities and Exchange Commission on April 14, 2025.

Certain information and footnote disclosures
normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or
omitted pursuant to such rules and regulations, and we believe that the disclosures are adequate to make the information presented not
misleading. In our opinion, all adjustments (consisting solely of normal recurring adjustments) necessary to state fairly the information
in the following unaudited condensed consolidated financial statements of the Company have been included. The results of operations for
interim periods are not necessarily indicative of the results for the full year.

5.Principles of Consolidation - The Company’s unaudited condensed consolidated financial statements
include the accounts of its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

6.Use of Estimates - The Company prepares its unaudited condensed consolidated financial statements in accordance
with U.S. GAAP, which requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities
at the date of the financial statements, and revenue and expenses during the reporting period. Actual results could differ from those
estimates.

8

STRAN & COMPANY, INC.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS

(in thousands, except
share and per share amounts)

7.Fair Value Measurements and Fair Value of Financial Instruments - The Company follows the guidance in
ASC 820 for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period. 

The fair value of the Company’s
financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with
the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants
at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the
use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions
about how market participants would price assets