GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Dec. 31, 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 nine months ended December 31, 2021 were $3,535,805 and $9,593,127, respectively. Amortization expenses related to our intangible assets for the three and nine months ended December 31, 2020 were $492,947 and $1,478,841, respectively.

			December 31, 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				(245,833	)		-			-
Accumulated amortization – Patents				-			(1,424,443	)		-
Accumulated amortization – Intangible Assets				-			-			(12,110,901	)
			$	4,167		$	5,649,562		$	139,652,716

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

Years Ended March 31,	Estimates for Fiscal Year
2022 (1)	$	3,479,832
2023		13,095,215
2024		13,074,489
2025		12,664,775
2026		12,674,904
Thereafter		90,317,230
	$	145,306,445

(1) This amount represents future amortization for the remaining three months of fiscal year 2022. It does not include any amortization for the nine months ended December 31, 2021.

AMMO, Inc.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS