Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 136

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 1
Chunk 136
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 under the Innovative Genetics SOW or the Tani Guaranty.

As of December 31, 2024, the balance owed by Innovative
Genetics under the Innovative Genetics SOW was $1,001,000, in addition to related shipping costs with a 30% markup, and duties, taxes,
or tariffs at cost. 8% annual interest began to accrue on the balance for past due payment status as of December 31, 2024.

As of December 31, 2024, the approximate dollar
value of Mr. Tani’s interest in the transaction described above was $1,001,000. In addition, accrued annual interest of 8% for past
due payment status, related shipping costs with a 30% markup, and duties, taxes, or tariffs at cost will be the responsibility of Mr.
Tani as guarantor of Innovative Genetics’ payment obligations and a potential debtor to the Company pursuant to the Tani Guaranty.
The payments by Innovative Genetics in the current or any of the past three fiscal years do not exceed 5% of our consolidated gross revenues
for that year, or $200,000, whichever is more.

75

Transactions with Engage and Excel (Alan Chippindale)

Alan Chippindale, a member of our board of directors,
the chairman of the Compensation Committee, and a member of the Company’s Nominating and Corporate Governance Committee, is the
President of Engage & Excel. In 2024, we paid Engage & Excel $7,500 for recruiting fees and $18,848 for consulting fees relating
to the T R Miller assets acquisition. In 2023, we paid Engage & Excel $17,500 for recruiting fees and $20,000 for consulting fees
relating to the T R Miller assets acquisition. We also agreed to pay Engage & Excel 1.5% of the contribution margin of the T R Miller
assets for two years, paid annually. The fees paid or that we have agreed to pay to Engage & Excel for consulting services to date
have totaled less than $200,000. The board of directors has determined that Mr. Chippindale remains eligible under Nasdaq rules to serve
as an “independent director” of the Company and as a member and chairman of the Compensation Committee and a member of the
Nominating and Corporate Governance Committee.

Open-Market Purchases of Common Stock by
Related Persons

On June 23