Stran & Company restates 2022-2023 financials due to accounting errors

Stran & Company, Inc.

Audit committee concludes FY 2022, 2023, and Q1-Q3 2022/2023 financials should no longer be relied upon.
Errors include improper accounts receivable and unearned revenue recognition, and incorrect acquisition accounting.
Restatement will require amendments to 10-K for FY 2023 and 10-Qs for multiple periods.
Management assessing internal control effectiveness; expects no impact on cash position or overall business.
Company previously audited by BF Borgers CPA PC; no longer relies on their audit reports.

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