Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 352

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 1A
Chunk 352
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    Goodwill 
     720 
  
    Right of use asset - office leases 
     837 
  
    Accounts payable and accrued expenses 
     (591)
  
    Unearned revenue 
     (285)
  
    Lease liability 
     (819)
  
    Total consideration 
    $3,541 

The
T R Miller Acquired Assets were valued using a combination of a multi-period excess earnings methodology, a discounted cash flow approach
and present value of cash flows approach. The goodwill represents the excess fair value after the allocation of intangibles, of which
approximately $420 is expected to be deductible for tax purposes.

The
Company incurred approximately $39 of acquisition related transaction costs in conjunction with the T R Miller Acquisition.

Pro forma disclosure for the T R Miller Acquisition

The following unaudited pro forma financial
information reflects the consolidated results of operations of the Company for the year ended December 31, 2023, as if the T R Miller
Acquisition had taken place on January 1, 2023. The financial results of the T R Miller Acquisition are included in the Company’s
statements of operation for the year ended December 31, 2024 and 2023. The pro forma financial information is not necessarily indicative
of the results of operations as they would have been had the transactions been effected on the assumed date:

    December 31, 2023 
  
    Sales 
    $80,256 
  
    Net loss 
    $(600)

    Net loss per share - basic & diluted 
    $(0.03)
  
    Weighted average shares outstanding - basic & diluted 
     18,519,892 

F-22

STRAN & COMPANY, INC.

NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS

(in thousands, except share and per share amounts)

G.ACCOUNTS PAYABLE AND ACCRUED EXPENSES:

Accounts payable and accrued expenses
consists of the following:

    December 31, 2024  
    December 31, 2023 
  
    Inventory purchases 
    $6,363  
    $3,218 
  
    Accrued expenses 
     2,556  
     1,527 

    $8,919  
    $4,745 

H.NOTE PAYABLE - LINE OF CREDIT:

The Company had a $7,000 line of credit
with Salem Five Cents Savings Bank