SEGMENTS

6 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

SEGMENTS

NOTE 15 – 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 September 30, 2022
	Ammunition			Marketplace		Corporate and other expenses			Total
Net Revenues	$	33,725,865		$	14,562,694	$	-		$	48,288,559
Cost of Revenues		33,353,443			2,099,407		-			35,452,850
General and administrative expense		3,606,635			2,560,125		3,881,140			10,047,900
Depreciation and amortization		147,904			3,143,418		-			3,291,322
Income from Operations	$	(3,382,117	)	$	6,759,744	$	(3,881,140	)	$	(503,513	)

	For the Six Months Ended September 30, 2022
	Ammunition			Marketplace		Corporate and other expenses			Total
Net Revenues	$	77,976,945		$	31,067,640	$	-		$	109,044,585
Cost of Revenues		73,690,458			4,382,756		-			78,073,214
General and administrative expense		7,279,747			4,993,854		7,496,864			19,770,465
Depreciation and amortization		294,316			6,347,362		-			6,641,678
Income from Operations	$	(3,287,576	)	$	15,343,668	$	(7,496,864	)	$	4,559,228

	For the Three Months Ended September 30, 2021
	Ammunition		Marketplace		Corporate and other expenses			Total
Net Revenues	$	44,224,870	$	16,777,215	$	-		$	61,002,085
Cost of Revenues		32,450,484		2,335,533		-			34,786,017
General and administrative expense		3,249,434		2,147,217		2,883,085			8,279,738
Depreciation and amortization		419,745		3,288,267		-			3,708,012
Income from Operations	$	8,105,207	$	9,006,198	$	(2,883,085	)	$	14,228,318

	For the Six Months Ended September 30, 2021
	Ammunition		Marketplace		Corporate and other expenses			Total
Net Revenues	$	76,429,136	$	29,049,281	$	-		$	105,478,417
Cost of Revenues		56,298,732		3,992,723		-			60,291,455
General and administrative expense		6,126,788		3,149,782		5,682,487			14,959,057
Depreciation and amortization		839,987		5,479,086		-			6,319,073
Income from Operations	$	13,163,629	$	16,427,690	$	(5,682,487	)	$	23,908,832