VENDOR NOTES RECEIVABLE (Table)

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Vendor note receivable

Vendor note receivable is composed of the following at December 31, 2016:

Advanced Tactical Armament Concepts, L.L.C. Notes Payable Purchased by Ammo	Amount
Western Alliance Bank	$	1,910,993
Less: Allowance for uncollectible amounts		(360,993	)
		1,550,000
Mansfield, LLC		1,035,000
	$	2,585,000

Disposition of collateral

The company reflected this transaction in the following manner:

Vendor notes receivable	$	2,585,000
Vendor advances receivable		(96,552	)
Accounts receivable		(20,965	)
Inventories		(509,447	)
Equipment		(543,115	)
Loss on uncollectible vendor notes		(1,414,921	)
	$	-