Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1958

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 9A
Chunk 1958
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         Remaining 
Useful Life   Gross     Accumulated Amortization     Net Carrying Amount     Gross     Accumulated Amortization     Net Carrying Amount    Customer lists   8.6 years   $ 5,175     $ (1,005 )   $ 4,170     $ 3,716     $ (602 )   $ 3,114    Total intangible assets - customer lists, net       $ 5,175     $ (1,005 )   $ 4,170     $ 3,716     $ (602 )   $ 3,114    Trade names   Indefinite   $ 654     $ —     $ 654     $ —     $ —     $ —    Total intangible assets - trade name       $ 654     $ —     $ 654     $ —     $ —     $ —   

The Company recorded amortization expense
of $403 and $294 for the years ended December 31, 2024 and 2023,
respectively.

The following table presents future
estimated amortization expense based on existing intangible assets held for use:

    Fiscal Years: 

    2025 
    $488 
  
    2026 
     488 
  
    2027 
     488 
  
    2028 
     488 
  
    2029 
     488 
  
    Thereafter 
     1,730 
  
    Total 
    $4,170 

Actual future estimated amortization
expense could differ from these estimated amounts as a result of future acquisitions, dispositions, impairments, and other factors or
changes.

F.ACQUISITIONS

Gander
Group Acquisition

On August 23, 2024, Stran Loyalty
Solutions entered into the Sale Agreement, between Stran Loyalty Solutions and the Secured Party, pursuant to which Stran Loyalty
Solutions agreed to purchase, on an as-is basis, all of the rights and interests of the Gander Group Assets from Secured Party as
the Gander Group Transaction. Gander Group provides promotional products and programs to its customers. The Company entered into the acquisition to expand its customer
base to other industries.

Under the Sale Agreement, the aggregate
consideration for the Gander Group Assets consisted of (a) cash payments by Stran Loyalty Solutions to Secured Party of approximately
$1,099