SEGMENTS

3 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

SEGMENTS

NOTE 16 – SEGMENTS

On April 30, 2021, we 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, which created a second reportable segment. Our Chief Executive Officer reviews financial performance based on our 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.

In the current period, we began the reporting of the separate allocation of certain corporate general and administrative expenses including non-cash stock compensation expense, as such we have updated the prior period disclosure herein. 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 June 30, 2022
	Ammunition		Marketplace		Corporate and other expenses			Total
Net Revenues	$	44,251,080	$	16,504,946	$	-		$	60,756,026
Cost of Revenues		40,337,015		2,283,349		-			42,620,364
General and administrative expense		3,673,112		2,433,729		3,615,724			9,722,565
Depreciation and amortization		146,412		3,203,944		-			3,350,356
Income from Operations	$	94,541	$	8,583,924	$	(3,615,724	)	$	5,062,741

	For the Three Months Ended June 30, 2021
	Ammunition		Marketplace		Corporate and other expenses			Total
Net Revenues	$	32,204,266	$	12,272,066	$	-		$	44,476,332
Cost of Revenues		23,848,248		1,657,190		-			25,505,438
General and administrative expense		2,877,354		1,002,564		2,799,401			6,679,319
Depreciation and amortization		420,242		2,190,819		-			2,611,061
Income from Operations	$	5,058,422	$	7,421,493	$	(2,799,401	)	$	9,680,514