GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

NOTE 13 – GOODWILL AND INTANGIBLE ASSETS

In the current period, we recorded $90,870,094 of Goodwill generated from our Merger with Gemini.

Amortization expenses related to our intangible assets for the three and six months ended September 30, 2021 were $3,535,805 and $6,057,322, respectively. Amortization expenses related to our intangible assets for the three and six months ended September 30, 2020 were $492,948 and $985,894, respectively.

			September 30, 2021
	Life		Licenses			Patent			Other Intangible Assets
Licensing Agreement – Jesse James		5	$	125,000		$	-		$	-
Licensing Agreement – Jeff Rann		5		125,000			-			-
Streak Visual Ammunition patent		11.2		-			950,000			-
SWK patent acquisition		15		-			6,124,005			-
Jagemann Munition Components:
Customer Relationships		3		-			-			1,450,613
Intellectual Property		3		-			-			1,543,548
Tradename		5		-			-			2,152,076
GDI Acquisition:
Tradename		15		-			-			76,532,389
Customer List		10		-			-			65,252,802
Intellectual Property		10		-			-			4,224,442
Other Intangible Assets		5		-			-			607,747
				250,000			7,074,005			151,763,617
Accumulated amortization – Licensing Agreements				(233,333	)		-			-
Accumulated amortization – Patents				-			(1,301,108	)		-
Accumulated amortization – Intangible Assets				-			-			(8,710,931	)
			$	16,667		$	5,772,897		$	143,052,686

Annual amortization of intangible assets for the next five fiscal years are as follows:

Years Ended March 31,	Estimates for Fiscal Year
2022 (1)	$	7,015,637
2023		13,095,215
2024		13,074,489
2025		12,664,775
2026		12,674,904
Thereafter		90,317,230
	$	148,842,250

(1) This amount represents future amortization for the remaining six months of fiscal year 2022. It does not include any amortization for the six months ended September 30, 2021.