Stran & Company, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets

Intangible Assets

6 Months Ended

Jun. 30, 2024

INTANGIBLE ASSETS:

The following table presents details of the Company’s intangible assets, estimated lives and related accumulated amortization:

		As of June 30, 2024							As of December 31, 2023
	Estimated Useful Life	Gross		Accumulated Amortization			Net Carrying Amount		Gross		Accumulated Amortization			Net Carrying Amount
Customer lists	10 - 12 years	$	3,716	$	(773	)	$	2,943	$	3,716	$	(602	)	$	3,114
Total		$	3,716	$	(773	)	$	2,943	$	3,716	$	(602	)	$	3,114

The Company recorded amortization expense of $85 and $67 for the three months ended June 30, 2024 and 2023, respectively. The Company recorded amortization expense of $171 and $123 for the six months ended June 30, 2024 and 2023, respectively.

The following table presents future estimated amortization expense based on existing intangible assets held for use:

Fiscal Years:
Remainder of 2024	$	172
2025		343
2026		343
2027		343
2028		343
Thereafter		1,399
Total	$	2,943

Actual future estimated amortization expense could differ from these estimated amounts as a result of future acquisitions, dispositions, impairments, and other factors or changes.