Company: SWAGW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001213900-25-011872
Chunk: 235

Company: Stran & Company, Inc.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part II, Item 8
Chunk 235
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094 
  
    Accumulated depreciation 
     (1,616) 
     (1,573)

    $1,664  
    $1,521 

The Company recorded depreciation
expense of $43 and $92 for the three months ended March 31, 2024 and 2023, respectively.

17

F.INTANGIBLE ASSETS:

The following table presents details
of the Company’s intangible assets, estimated lives and related accumulated amortization:

    As of March 31, 2024  
    As of December 31, 2023 

    Estimated 
Useful Life 
    Gross  
    Accumulated 
Amortization  
    Net Carrying 
Amount  
    Gross  
    Accumulated 
Amortization  
    Net Carrying 
Amount 
  
    Customer lists 
    10 - 12 years 
    $3,716  
    $(687) 
    $3,029  
    $3,716  
    $(602) 
    $3,114 
  
    Total 
      
    $3,716  
    $(687) 
    $3,029  
    $3,716  
    $(602) 
    $3,114 

The Company recorded amortization
expense of $85 and $56 for the three months ended March 31, 2024 and 2023, respectively. The following table presents future estimated
amortization expense based on existing intangible assets held for use:

    Fiscal Years: 

    Remainder of 2024 
    $258 
  
    2025 
     343 
  
    2026 
     343 
  
    2027 
     343 
  
    2028 
     343 
  
    Thereafter 
     1,399 
  
    Total 
    $3,029 

Actual future estimated amortization
expense could differ from these estimated amounts as a result of future acquisitions, dispositions, impairments, and other factors or
changes.

G.T R MILLER ACQUISITION

On June 1, 2023 (the “T R Miller
Closing Date”), the Company completed its acquisition (the “T R Miller Acquisition”) of substantially all of the assets
(the “T.R. Miller Acquired Assets”) of T R Miller Co., Inc. (“T R Miller”), pursuant to the Asset Purchase Agreement,