Company: SWAGW
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0001213900-25-021742
Chunk: 65

Company: Stran & Company, Inc.
Filing Date: 2025-03-07
Form: 10-Q
Item: Part II, Item 8
Chunk 65
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ander Group or any of its affiliates.

The Sale Agreement and the Release Agreement included
provisions for indemnification, reimbursement for returned items, handling of assets and liabilities during Gander Group’s wind-down,
and certain other matters.

Contractual Obligations

Property Leases

The following is a schedule by years of future
minimum lease payments (in thousands):

    Remainder of 2024 
    $198 
  
    2025 
     361 
  
    2026 
     189 
  
    2027 
     185 
  
    2028 
     65 
  
    Total future non-cancelable minimum lease payments 
    $998 

Lease costs for the three months ended September
30, 2024 and 2023 totaled approximately $0.2 million and $0.2 million, respectively. Lease costs for the nine months ended September 30,
2024 and 2023 totaled approximately $0.5 million and $0.4 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, 2024 and December
31, 2023, the Company had net deposits totaling approximately $3.0 million and $0.9 million, respectively.

Our other principal cash payment obligations have
consisted principally of obligations under the Revolving Line of Credit. As stated above, as of September 30, 2024 and December 31, 2023,
we had not drawn any funds from the Revolving Line of Credit under the Loan Documents.

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