Company: SWAGW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001213900-25-011872
Chunk: 47

Company: Stran & Company, Inc.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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about our net cash flows for the three months ended March 31, 2024 and 2023:

    Three Months Ended
    March, 31

    2024 
    (in thousands)

    2023 
    (Restated) 
    (in thousands)

    Net cash provided by (used in) operating activities
     
    $
    2,059

    $
    (3,620
    )
  
    Net cash used in investing activities

    (572
    )

    (585
    )
  
    Net cash used in financing activities

    (60
    )

    (383
    )
  
    NET INCREASE (DECREASE) IN CASH

    1,427

    (4,588
    )
  
    CASH AND CASH EQUIVALENTS - BEGINNING

    8,059

    15,254

    CASH AND CASH EQUIVALENTS - ENDING
     
    $
    9,486

    $
    10,666

Net cash provided by operating activities was
approximately $2.1 million for the three months ended March 31, 2024, as compared to net cash used by operating activities of approximately
$3.6 million for the three months ended March 31, 2023. The increase in net cash provided by operating activities was primarily due to
an increase in rewards program liability and a decrease in accounts receivable.

Net cash used in investing activities was approximately
$0.6 million for the three months ended March 31, 2024, as compared to approximately $0.6 million for the three months ended March 31,
2023. The slight decrease in net cash used in investing activities was primarily due to increased proceeds from the sale of investments,
partially offset by increased purchases of investments.

Net cash used in financing activities
was approximately $60 thousand for the three months ended March 31, 2024, as compared to approximately $0.4 million for the three months
ended March 31, 2023. The decrease in net cash used in financing activities was primarily due to reduced payments of contingent earn-out
liabilities and installment payment liabilities.

33

Stock Repurchase Program

As initially announced
on February 23, 2022, under our stock repurchase program, we may repurchase up to $10.0 million of our outstanding shares of common stock
from