XML 47 R25.htm IDEA: XBRL DOCUMENT v3.20.2
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Mar. 31, 2020
Accounting Policies [Abstract]  
Schedule of Concentration of Risks

For the years ended March 31, 2020 and 2019, the Company’s customers that comprised more than ten percent (10%) of total revenues and accounts receivable were as follows :

 

      For the Year Ended
March 31, 2020
    For the Year Ended
March 31, 2019
 
PERCENTAGES       Revenues       Accounts Receivable       Revenues       Accounts Receivable  
                                   
Customers:                                  
A       19.1 %     26.5 %     10.0 %     -  
B       13.3 %     -       -       19.0 %
C       -       -       24.6 %     29.4 %
D       -       -       19.1 %     -  
        32.4 %     26.5 %     53.7 %     48.4 %
Schedule of Disaggregation of Revenue from Customers

The following table represent a disaggregation of revenue from customers by segment. We attribute net sales to segments by product types; ammunition and ammunition casings. The Company notes that revenue recognition processes are consistent between product type, however, the amount, timing and uncertainty of revenue and cash flows may vary by each product type due to the customers of each product type.

 

    For the Year Ended  
    March 31, 2020     March 31, 2019  
Ammunition Sales   $ 6,591,196     $ 3,985,574  
Ammunition Casings Sales     8,189,169       580,078  
Total Sales   $ 14,780,365     $ 4,565,652  
Schedule of Calculations of Fair Value Assumptions
    March 31, 2020     March 31, 2019  
             
Risk free interest rate           -       2.39 %
Expected volatility     -       45 %
Expected term     -       2.5 years  
Expected dividend yield     0 %     0 %
Schedule of Acquisition of Fixed Assets
    Quoted
Active
Markets
for
Identified
Assets
    Significant
Other
Observable
Inputs
    Significant
Unobservable
Inputs
    Total  
    (Level 1)     (Level 2)     (Level 3)        
March 31, 2019                                
Warrants issued for convertible promissory notes   $ -     $ 358,800     $ -     $ 358,800