SEGMENTS

9 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

SEGMENTS

NOTE 14 – SEGMENTS

On April 30, 2021, the Company entered into an agreement and plan of merger with Gemini, 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 December 31, 2021, 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 73% of our revenue in the three and nine months ended December 31, 2021, while Marketplace generated approximately 92% and 76% of our operating income in the three and nine months ended December 31, 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 December 31, 2021
	Ammunition		Marketplace		Total
Net Revenues	$	47,092,417	$	17,596,769	$	64,689,186
Cost of Revenues		39,904,811		2,261,509		42,166,320
General and administrative expense		5,935,949		2,251,175		8,187,124
Depreciation and amortization		420,077		3,305,844		3,725,921
Income from Operations	$	831,580	$	9,778,241	$	10,609,821

	For the Nine Months Ended December 31, 2021
	Ammunition		Marketplace		Total
Net Revenues	$	123,521,552	$	46,646,051	$	170,167,603
Cost of Revenues		96,203,543		6,254,232		102,457,775
General and administrative expense		17,745,255		5,400,926		23,146,181
Depreciation and amortization		1,260,064		8,784,930		10,044,994
Income from Operations	$	8,312,690	$	26,205,963	$	34,518,653