Company: SWAGW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001213900-25-011877
Chunk: 302

Company: Stran & Company, Inc.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part II, Item 8
Chunk 302
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 30, 2024 and December 31, 2023, and indicates the fair value hierarchy
of the valuation inputs the Company utilized to determine such fair value:

    Description 
    Level 
    June 30,
 2024  
    December 31,
 2023 
  
    Assets: 

    Investments 
    1 
    $9,603  
    $10,393 

    Liabilities: 

    Earn-out liabilities 
    3 
    $987  
    $987 

Investments

The Company’s investments consisted
of the following as of June 30, 2024:

    Cost  
    Unrealized Gain (Loss)  
    Fair Value 
  
    Money market fund 
    $440  
    $—  
    $440 
  
    Corporate bonds 
     3,169  
     (66) 
     3,103 
  
    Mutual funds 
     747  
     12  
     759 
  
    US Treasury bills 
     5,279  
     22  
     5,301 

    $9,635  
    $(32) 
    $9,603 

Earn-Out Liabilities

For the three and six months ended
June 30, 2024 and 2023, the Company did not recognize any change in fair value of contingent earn-out liability as it was deemed immaterial
in both periods.

18

STRAN & COMPANY, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

(in thousands, except share and per share amounts)

D.INVENTORY:

Inventory consists of the following:

    June 30,
 2024  
    December 31, 
2023 
  
    Finished goods (branded products) 
    $3,249  
    $4,182 
  
    Goods in process (un-branded products) 
     725  
     600 

    $3,974  
    $4,782 

E.PROPERTY AND EQUIPMENT, NET:

Property and equipment, net consists
of the following:

    June 30,
 2024  
    December 31,
 2023 
  
    Leasehold improvements 
    $6  
    $6 
  
    Office furniture and equipment 
     584  
     558 
  
    Software 
     2,806