SEGMENTS

12 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

SEGMENTS

NOTE 20 – 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 March 31, 2022, 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 for the year ended March 31, 2022, while Marketplace generated approximately 96% of our operating income. The following tables set forth certain financial information utilized by management to evaluate our operating segments for the interim period presented:

We note the acquisition of Gemini created a second reportable segment. As such, we did not report segment detail in previous periods.

	For the Year Ended March 31, 2022
	Ammunition		Marketplace		Total
Net Revenues	$	175,660,650	$	64,608,516	$	240,269,166
Cost of Revenues		142,773,306		8,732,351		151,505,657
General and administrative expense		29,477,691		8,434,308		37,911,999
Depreciation and amortization		1,579,778		12,122,370		13,702,148
Income from Operations	$	1,829,875	$	35,319,487	$	37,149,362

Total assets by segment were as follows:

	For the Year Ended March 31, 2022
Ammunition	$	160,305,107
Marketplace		253,873,206
Total	$	414,178,313

Total capital expenditures by segment were as follows:

	For the Year Ended March 31, 2022
Ammunition	$	17,728,023
Marketplace		1,490,959
Total	$	19,218,982