SEGMENTS

6 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

SEGMENTS

NOTE 14 – SEGMENTS

On April 30, 2021, the Company entered into an agreement and plan of merger with Gemini Direct Investments, LLC, which, along with its subsidiaries, engages primarily in the operation of an online marketplace dedicated to firearms, hunting, shooting and related products. As a result, at September 30, 2021, our chief operating decision maker, our Chief Executive Officer, reviews financial performance based on two operating segments as follows:

● Ammunition – which consists of our manufacturing business. The Ammunition segment engages in the design, production and marketing of ammunition and ammunition component products.

● Marketplace – which consists of the GunBroker.com marketplace. In its role as an auction site, GunBroker.com supports the lawful sale of firearms, ammunition and hunting/shooting accessories.

Ammunition generated approximately 72% of our revenue in the three and six months ended September 30, 2021, while Marketplace generated approximately 63% and 68% of our operating income in the three and six months ended September 30, 2021, respectively. The following tables set forth certain financial information utilized by management to evaluate our operating segments for the interim period presented:

	For the Three Months Ended September 30, 2021
	Ammunition		Marketplace		Total
Net Revenues	$	44,224,869	$	16,777,216	$	61,002,085
Cost of Revenues		32,450,484		2,335,533		34,786,017
General and administrative expense		6,132,549		2,147,187		8,279,736
Depreciation and amortization		419,745		3,288,267		3,708,012
Income from Operations	$	5,222,089	$	9,006,229	$	14,228,318

	For the Six Months Ended September 30, 2021
	Ammunition		Marketplace		Total
Net Revenues	$	76,429,135	$	29,049,282	$	105,478,417
Cost of Revenues		56,298,732		3,992,723		60,291,455
General and administrative expense		11,809,306		3,149,751		14,959,057
Depreciation and amortization		839,987		5,479,086		6,319,073
Income from Operations	$	7,481,110	$	16,427,722	$	23,908,832