Company: SWAGW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109289
Chunk: 60

Company: Stran & Company, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part II, Item 8
Chunk 60
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 is a schedule by years of future
minimum lease payments (in thousands):

    Remainder of 2025 
    $187 
  
    2026 
     702 
  
    2027 
     679 
  
    2028 
     335 
  
    2029 
     276 
  
    Thereafter 
     693 
  
    Total future non-cancelable minimum lease payments 
    $2,872 

Lease costs for the three months ended September
30, 2025 and 2024 totaled approximately $0.2 million and $0.2 million, respectively. Lease costs for the nine months ended September 30,
2025 and 2024 totaled approximately $0.6 million and $0.5 million, respectively. We anticipate no deficiencies in our ability to make
these payments.

Other Cash Obligations

The Company manages reward card programs for clients.
Under these programs, the Company receives cash and simultaneously records a liability for the total amount received. These accounts are
adjusted on a periodic basis as reward cards are funded or reduced at the direction of the customers. As of September 30, 2025 and December
31, 2024, the Company had net reward card program liabilities totaling approximately $0.6 million and $0.4 million, respectively.

Critical Accounting Estimates 

We prepare our financial statements in accordance
with U.S. GAAP. The preparation of financial statements requires us to make estimates and assumptions that affect the reported amounts
of assets, liabilities, revenue, costs and expenses, and related disclosures. We evaluate our estimates and assumptions on an ongoing
basis. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances.
Actual results could differ significantly from the estimates made by our management. To the extent that there are differences between
our estimates and actual results, our future financial statements presentation, financial condition, results of operations, and cash flows
will be affected.

We believe that the assumptions and estimates
associated with the valuation of goodwill and intangible assets, have the greatest potential impact on our financial statements. Therefore,
we consider these to be our critical accounting policies and estimates. For further information on all of our significant accounting policies,
see the notes to our financial statements beginning on page 1 of this Quarterly Report on Form 10-Q.

44

Valuation of Goodwill and Intangible Assets

We perform an annual impairment review of our
goodwill during the fourth fiscal