NOTES PAYABLE – RELATED PARTY

9 Months Ended

Dec. 31, 2022

Notes Payable Related Party

NOTES PAYABLE – RELATED PARTY

NOTE 9 – NOTES PAYABLE – RELATED PARTY

For the three and nine months ended December 31, 2022, the Company made $173,134 and $507,507 in principal payments, respectively, in connection with the Amended Note B, an amended related party note payable with Jagemann Stamping Company (“JSC”). We entered into the Amended Note B with JSC on November 4, 2020 and the note matures on June 26, 2023. We recognized $12,753 and $41,450 in respective interest expenses for the three and nine months ended December 31, 2022, respectively.

AMMO, Inc.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS