Company: SWAGW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001213900-25-011872
Chunk: 76

Company: Stran & Company, Inc.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part I, Item 2
Chunk 76
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 and assumed the Gander Group Assumed Liabilities. As a result of the Gander Group Transaction
Closing, the Company indirectly acquired substantially all of the assets of Bangarang, including all of the equity of Gander Group Louisiana,
LLC, a Louisiana limited liability company, which became a wholly-owned subsidiary of Stran Loyalty Solutions.

In addition, Stran Loyalty Solutions entered
into a Release Agreement, dated as of August 23, 2024, between Bangarang and Stran Loyalty Solutions (the “Release Agreement”).
Under the Release Agreement, Bangarang granted a full and complete waiver and release of Stran Loyalty Solutions and its affiliates of
any non-competition, non-solicitation, or similar restrictive covenants of any parties owed to Bangarang or any of its affiliates.

The Sale Agreement and the Release Agreement
included provisions for indemnification, reimbursement for returned items, handling of assets and liabilities during Bangarang’s
wind-down, and certain other matters.

Emerging Growth Company and Smaller Reporting
Company

We qualify as an “emerging growth company”
under the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). As a result, we are permitted to, and intend to,
rely on exemptions from certain disclosure requirements. For so long as we are an emerging growth company, we will not be required to:

●have
                                            an auditor report on our internal control over financial reporting pursuant to Section 404(b)
                                            of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”);

●present
                                            three years, and may instead present only two years, of audited financial statements, with
                                            correspondingly reduced “Management’s Discussion and Analysis of Financial Condition
                                            and Results of Operations” disclosure in this report;

●comply
                                            with any requirement that may be adopted by the Public Company Accounting Oversight Board
                                            regarding mandatory audit firm rotation or a supplement to the auditor’s report providing
                                            additional information about the audit and the financial statements (i.e., an auditor discussion
                                            and analysis);

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●comply
                                            with certain greenhouse gas emissions disclosure and related third-party assurance requirements;

●submit
                                            certain executive compensation matters to stockholder advisory votes, such as “say-on-pay”
                                            and “say-on-frequency;” and

●disclose
                                            certain executive compensation related items such as the correlation between executive compensation