Company: SWAGW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109289
Chunk: 158

Company: Stran & Company, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 158
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 acquired assets or the strategy for our overall business, or (iii) significant negative industry or economic
trends. The process of evaluating the potential impairment of long-lived assets under the accounting guidance on property and equipment
and intangible assets is also highly subjective and requires significant judgment. In order to estimate the fair value of long-lived assets,
we typically make various assumptions about the future prospects of our business or the part of our business to which the long-lived assets
relate. We also consider market factors specific to the business and estimate future cash flows to be generated by the business, which
requires significant judgment as it is based on assumptions about market demand for our products over a number of future years. Based
on these assumptions and estimates, we determine whether we need to take an impairment charge to reduce the value of the long-lived assets
stated on our consolidated balance sheets to reflect their estimated fair value. Assumptions and estimates about future values and remaining
useful lives are complex and often subjective. They can be affected by a variety of factors, including external factors, such as the real
estate market, industry and economic trends, and internal factors, such as changes in our business strategy and our internal forecasts.
Although we believe the assumptions and estimates we have made in the past have been reasonable and appropriate, changes in assumptions
and estimates could materially impact our reported financial results.

Recent Accounting Pronouncements

For a discussion of recently adopted accounting
pronouncements, see Recently Issued Accounting Pronouncements in Note A.19 to our unaudited condensed consolidated financial statements
beginning on page 1 of this Quarterly Report on Form 10-Q.

ITEM
3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

Not applicable. 

45

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Our management, with the participation of our
Chief Executive Officer and Chief Financial Officer, evaluated our disclosure controls and procedures (as defined in Rules 13a-15(e) and
15d-15(e) under the Exchange Act) prior to the filing of this Quarterly Report on Form 10-Q. Based on that evaluation, our Chief Executive
Officer and Chief Financial Officer concluded that, as of the end of the period covered by this Quarterly Report on Form 10-Q, our disclosure
controls and procedures were not effective due to the following material weaknesses in our internal control over financial reporting:

●There was a material weakness in our internal controls related