Company: SWAGW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001213900-25-011877
Chunk: 284

Company: Stran & Company, Inc.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part II, Item 8
Chunk 284
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STRAN & COMPANY, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

(in thousands, except share and per share amounts)

A.ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

1.Organization - Stran & Company, Inc., (the “Company”)
was incorporated under the laws of the Commonwealth of Massachusetts and commenced operations on November 17, 1995. The Company re-incorporated
under the laws of the State of Nevada on May 24, 2021.

2.Operations - The Company is an outsourced marketing solutions
provider that sells branded products to customers. The Company purchases products and branding through various third-party manufacturers
and decorators and resells the finished goods to customers.

In addition to selling branded products,
the Company offers clients custom sourcing capabilities; a flexible and customizable e-commerce solution for promoting branded merchandise
and other promotional products, managing promotional loyalty and incentives, print collateral, and event assets, order and inventory management,
and designing and hosting online retail popup shops, fixed public retail online stores, and online business-to-business service offerings;
creative and merchandising services; warehousing/fulfillment and distribution; print-on-demand; kitting; point of sale displays; and loyalty
and incentive programs.

3.Method of Accounting - The Company’s financial statements are prepared using the accrual basis of
accounting in accordance with accounting principles generally accepted in the United States of America. (“U.S. GAAP”).

4.Basis of Presentation - The accompanying unaudited condensed financial statements as of and for the three
and six months ended June 30, 2024, include the accounts of the Company and have been prepared by the Company, without audit, pursuant
to the rules and regulations of the Securities and Exchange Commission. These unaudited condensed financial statements should be read
in conjunction with the audited financial statements and the notes thereto included in our Annual Report on Form 10-K/A filed with the
Securities and Exchange Commission on January 22, 2024.

Certain information and footnote disclosures
normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or
omitted pursuant to such rules and regulations, and we believe that the disclosures are adequate to make the information presented not
misleading. In our opinion, all adjustments (consisting solely of normal recurring adjustments) necessary to present fairly the information
in the following unaudited condensed financial statements of the Company have been included