Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 168

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 1
Chunk 168
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 of the valuation date. The installment payments and payment date (term) are based on the purchase agreements and the discount rate
represents a quoted market price classified within Level 2 of the fair value hierarchy. All assumptions utilized in the determination of the fair values of assets and liabilities acquired in the Company’s business combinations
were determined to be Level 3 in the fair value hierarchy, see Note F. “Acquisitions” for the valuation assumptions used.

C.INVENTORY:

Inventory consists of the following:

    December 31, 2024  
    December 31, 2023 
  
    Finished goods (branded products) 
    $5,093  
    $4,182 
  
    Goods in process (un-branded products) 
     296  
     600 

    $5,389  
    $4,782 

F-17

STRAN & COMPANY, INC.

NOTES TO THE CONSOLIDATED
FINANCIAL STATEMENTS

(in thousands, except share and per share amounts)

D.PROPERTY AND EQUIPMENT, NET:

Property and equipment, net consists
of the following:

    December 31, 2024  
    December 31, 2023 
  
    Leasehold improvements 
    $6  
    $6 
  
    Office furniture and equipment 
     660  
     558 
  
    Software 
     2,967  
     2,468 
  
    Transportation equipment 
     62  
     62 

     3,695  
     3,094 
  
    Accumulated depreciation 
     (1,994) 
     (1,573)

    $1,701  
    $1,521 

The Company recorded depreciation expense
of $421 and $479 for the years ended December
31, 2024 and 2023, respectively.

E.GOODWILL AND INTANGIBLE ASSETS:

During the fourth quarter of fiscal
years 2024 and 2023, the Company completed a goodwill impairment analysis for its reporting units. During the fourth quarter of fiscal
year 2024, the Company determined that the fair value of its Stran Loyalty Solutions reporting unit was in excess of its carrying value
and no impairment charge was recorded. During the fourth quarter of fiscal year 2023, the Company determined that the carrying value of
its Stran & Company, Inc. reporting unit was in excess of its