XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.4
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2020
Dec. 31, 2019
Net Sales        
Net Sales $ 16,620,244 $ 2,772,009 $ 38,293,086 $ 10,025,144
Cost of Goods Sold, for the three and nine months ended December 31, 2020 and 2019 includes depreciation and amortization of $807,505, $771,463, $2,346,157, and $2,108,269 respectively, and federal excise taxes of $1,201,841, $138,529, $2,707,534, and $374,132, respectively 13,278,338 3,662,196 32,590,149 12,286,591
Gross Margin 3,341,906 (890,187) 5,702,937 (2,261,447)
Operating Expenses        
Selling and marketing 542,271 238,439 1,244,323 748,014
Corporate general and administrative 1,639,052 730,991 3,805,230 2,784,984
Employee salaries and related expenses 1,172,765 846,724 3,329,511 2,898,932
Depreciation and amortization expense 416,625 (56,247) 1,242,809 848,995
Loss on purchase 1,000,000
Total operating expenses 3,770,713 1,759,907 10,621,873 7,280,925
Loss from Operations (428,807) (2,650,094) (4,918,936) (9,542,372)
Other Expenses        
Other income/(expense) 461,000 274,400
Interest income/(expense) (1,938,630) (214,328) (2,704,315) (607,710)
Total other expenses (1,477,630) (214,328) (2,429,915) (607,710)
Loss before Income Taxes (1,906,437) (2,864,422) (7,348,851) (10,150,082)
Provision for Income Taxes
Net Loss $ (1,906,437) $ (2,864,422) $ (7,348,851) $ (10,150,082)
Loss per share Basic and fully diluted:        
Weighted average number of shares outstanding 53,816,157 45,767,635 49,295,682 45,267,036
Loss per share $ (0.04) $ (0.06) $ (0.15) $ (0.22)
Ammunition Sales [Member]        
Net Sales        
Net Sales $ 12,834,490 $ 1,246,414 $ 27,987,438 $ 3,703,669
Casing Sales [Member]        
Net Sales        
Net Sales $ 3,785,754 $ 1,525,595 $ 10,305,648 $ 6,321,475