Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1208

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 5
Chunk 1208
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 seller of $162 for the inventory purchased. This amount
accrues no interest, and is to be paid “as used” on a quarterly basis through the three years earn-out period as discussed
in Note I. During the year ended December 31, 2023, the seller forgave the outstanding note payable and the Company recognized a gain
on the extinguishment of debt of $162 for the outstanding principal balance which is recorded in general and administrative expense on
the statement of operations.

K.INSTALLMENT PAYMENT LIABILITY:

A reconciliation of the installment
payment liability is included below:

    Balance as of December 31, 2022 
    $681 
  
    Additions pursuant to acquisitions 
     951 
  
    Interest accretion 
     11 
  
    Payments made 
     (218)
  
    Balance as of December 31, 2023 
    $1,425 
  
    Interest accretion 
     125 
  
    Payments made 
     (760)
  
    Balance as of December 31, 2024 
    $790 

    Current portion of installment payment liabilities 
    $365 
  
    Long-term installment payment liabilities 
    $425 

F-23

STRAN & COMPANY, INC.

NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS

(in thousands, except share and per share amounts)

L.REVENUE:

Revenue disaggregated according to
the timing of transfer of goods or services (e.g., at a point in time) was as follows:

    Revenue generated per major product category 
    December 31, 2024  
    December 31, 2023 
  
    Promotional products - dropshipping 
    $34,531  
    $32,794 
  
    Promotional products – bulk dropshipping 
     15,939  
     17,686 
  
    Promotional products – Company owned inventory 
     14,420  
     17,911 
  
    Casino continuity program 
     8,619  
     — 
  
    Promotional products – third-party distributor 
     5,540  
     6,076 
  
    Redemption code program 
     1,856  
     — 
  
    Rewards program 
     1,199  
     1,233 
  
    Additional services 
     550  
     300 

    $82,654