Company: SWAGW
Filing Date: 2025-01-22
Form Type: 10-K/A
Source: 0001213900-25-005516
Chunk: 160

Company: Stran & Company, Inc.
Filing Date: 2025-01-22
Form: 10-K/A
Chunk 160
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 | $          |     — |     | $          |   398 |
| Fair value of common stock issued     
 for Premier business acquisition      |     | $          |     — |     | $          |    10 |
| Assets acquired in TR Miller business 
 acquisition                           |     | $          | 5,236 |     | $          |     — |
| Liabilities assumed in TR Miller      
 business acquisition                  |     | $          | 3,113 |     | $          |     — |
| Lease liabilities arising from        
 obtaining right-of-use assets         |     | $          | 1,034 |     | $          |     — |

The accompanying notes are an integral part of these restated financial statements. F-8 STRAN & COMPANY, INC.
NOTES TO THE RESTATED FINANCIAL STATEMENTS
(in thousands, except share and per share amounts)

| A. | ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: |

| 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. | Emerging Growth Company - The Company is an “emerging growth company,” as defined in Section                                                   
 2(a) of the Securities Act, of 1933, as amended (the “Securities Act”), as modified by the Jumpstart Our Business Startups                     
 Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are                     
 applicable to other public companies that are not emerging growth companies including, but not limited to, not