NOTES PAYABLE – RELATED PARTY

9 Months Ended

Dec. 31, 2021

Notes Payable Related Party

NOTES PAYABLE – RELATED PARTY

NOTE 9 – NOTES PAYABLE – RELATED PARTY

For the three and nine months ended December 31, 2021, the Company made $158,131 and $463,192 in respective principal payments in connection with the Amended Note B, an amended related party note payable with Jagemann Stamping Company (“JSC”). We entered to the Amended Note B with JSC on November 4, 2020 and the note matures on June 26, 2023. We recognized $31,438 and $94,210 in respective interest expenses for the three and nine months ended December 31, 2021, respectively.

AMMO, Inc.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS