CAPITAL STOCK

9 Months Ended

Dec. 31, 2021

Equity [Abstract]

CAPITAL STOCK

NOTE 10 – CAPITAL STOCK

During the nine months period ended December 31, 2021, we issued 22,336,437 shares of common stock as follows:

● 20,000,000 shares were issued in connection with our merger of Gemini Direct Investments, LLC valued at $142,691,282

● 431,080 shares were issued to investors for exercised warrants valued for $943,907

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

● 772,450 shares valued at $1,631,701 were issued for services and equipment provided to the Company

● 856,000 shares valued at $2,898,250 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 December 31, 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		100,000			0.01		4.91
Exercised		(774,190	)		1.99		-
Forfeited or cancelled		-			-		-
Outstanding at December 31, 2021		2,933,755		$	2.32		2.53
Exercisable at December 31, 2021		2,933,755		$	2.32		2.53

As of December 31, 2021, we had 2,933,755 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 100,000 shares of Common Stock at an exercise price of $0.01 per share until December 2026, (2) warrants to purchase 911 shares of Common Stock at an exercise price of $1.65 per share until April 2025; (3) 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; (4) warrants to purchase 474,966 shares of Common Stock at an exercise price of $2.40 until September 2024; (5) warrants to purchase 386,311 shares of Common Stock at an exercise price of $2.63 until November 2025, and (6) 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