CAPITAL STOCK

3 Months Ended

Jun. 30, 2021

Equity [Abstract]

CAPITAL STOCK

NOTE 10 – CAPITAL STOCK

During the three month period ended June 30, 2021, we issued 19,946,799 shares of common stock as follows:

● 18,500,000 shares were issued in connection with our merger of Gemini Direct Investments, LLC valued at $132,645,000

● 219,144 shares were issued to investors for exercised warrants valued for $477,811

● 275,155 shares were issued for cashless exercise of 340,841 warrants

● 750,000 shares valued at $1,500,000 were issued for services provided to the Company

● 202,500 shares valued at $699,500 were issued to employees, members of the Board of Directors, and members of the Advisory Committee as compensation

AMMO, Inc.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

At June 30, 2021, outstanding and exercisable stock purchase warrants consisted of the following:

	Number of Shares			Weighted Averaged Exercise Price		Weighted Average Life Remaining (Years)
Outstanding at March 31, 2021		3,607,945		$	2.31		3.24
Granted		-			-		-
Exercised		(559,985	)		1.91		-
Forfeited or cancelled		-			-		-
Outstanding at June 30, 2021		3,047,960		$	2.39		2.92
Exercisable at June 30, 2021		3,047,960		$	2.39		2.92

As of June 30, 2021, we had 3,047,960 warrants outstanding. Each warrant provides the holder the right to purchase up to one share of our Common Stock at a predetermined exercise price. The outstanding warrants consist of (1) warrants to purchase 2,730 shares of Common Stock at an exercise price of $1.65 per share until April 2025; (2) warrants to purchase 1,934,414 shares of our Common Stock at an exercise price of $2.00 per share consisting of 71% of the warrants until April 2023, 31% until August 2024, and 69% until February 2026; (3) warrants to purchase 564,029 shares of Common Stock at an exercise price of $2.40 until September 2024; (4) warrants to purchase 396,787 shares of Common Stock at an exercise price of $2.63 until November 2025, and (5) warrants to purchase 150,000 shares of Common Stock at an exercise price of $6.72 until February 2024.

AMMO, Inc.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS