Company: SWAGW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001213900-25-011872
Chunk: 46

Company: Stran & Company, Inc.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part I, Item 1
Chunk 46
---
 net loss for the three months ended March 31, 2024 was approximately
$0.5 million, compared to approximately $0.5 million for the three months ended March 31, 2023. These results were primarily due to the
increase in sales for the three months ended March 31, 2024 from the acquisition of the assets of T R Miller to approximately $2.0 million
from $0 for the three months ended March 31, 2023, and the increase of approximately $1.2 million from recurring organic sales for the
three months ended March 31, 2024 compared to the three months ended March 31, 2023. These factors were offset by the reasons described
above for the increase in operating expenses and the increase in cost of sales.

32

Liquidity and Capital Resources

As of March 31,
2024, we had cash and cash equivalents of approximately $9.5 million and investments of approximately $10.7 million. We have financed
our operations primarily through cash generated from our initial public offering of common stock and warrants to purchase common stock
in November 2021, our private placement of common stock and warrants to purchase common stock in December 2021, and operations.

We believe that our
current levels of cash will be sufficient to meet our anticipated cash needs for our operations and cash payment obligations for both
the 12 months ended March 31, 2025 and in the long-term beyond this period, including our anticipated costs associated with being a public
reporting company. We may, however, in the future require additional cash resources due to changing business conditions, implementation
of our strategy to expand our business, or other investments or acquisitions we may decide to pursue. If our own financial resources
are insufficient to satisfy our capital requirements, we may seek to sell additional equity or debt securities or obtain additional credit
facilities. The sale of additional equity securities could result in dilution to our stockholders. The incurrence of indebtedness would
result in increased debt service obligations and could require us to agree to operating and financial covenants that would restrict our
operations. Financing may not be available in amounts or on terms acceptable to us, if at all. Any failure by us to raise additional
funds on terms favorable to us, or at all, could limit our ability to expand our business operations and could harm our overall business
prospects.

Summary of Cash Flow

The following table provides detailed information