CAPITAL STOCK

6 Months Ended

Sep. 30, 2021

Equity [Abstract]

CAPITAL STOCK

NOTE 10 – CAPITAL STOCK

During the six month period ended September 30, 2021, we issued 20,483,049 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

● 380,142 shares were issued to investors for exercised warrants valued for $821,656

● 276,907 shares were issued for cashless exercise of 343,110 warrants

● 771,250 shares valued at $1,627,500 were issued for services and equipment provided to the Company

● 554,750 shares valued at $1,853,125 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 September 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		(723,252	)		1.96		-
Forfeited or cancelled		-			-		-
Outstanding at September 30, 2021		2,884,693		$	2.40		2.66
Exercisable at September 30, 2021		2,884,693		$	2.40		2.66

As of September 30, 2021, we had 2,884,693 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 911 shares of Common Stock at an exercise price of $1.65 per share until April 2025; (2) warrants to purchase 1,821,567 shares of our Common Stock at an exercise price of $2.00 per share consisting of 32% of the warrants until August 2024, and 68% until February 2026; (3) warrants to purchase 525,904 shares of Common Stock at an exercise price of $2.40 until September 2024; (4) warrants to purchase 386,311 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