CAPITAL STOCK

9 Months Ended

Dec. 31, 2022

Equity [Abstract]

CAPITAL STOCK

NOTE 11 – CAPITAL STOCK

Our authorized capital consists of 200,000,000 shares of common stock with a par value of $0.001 per share.

During the nine month period ended December 31, 2022, we issued 1,558,670 shares of common stock as follows:

● 99,762 shares were issued for cashless exercise of 100,000 warrants

● 177,273 shares were issued for the exercise of warrants for a total value of $56,046

● 1,281,635 shares valued at $4,457,973 were issued to employees, members of the Board of Directors, and members of the Advisory Committee as compensation

AMMO, Inc.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

At December 31, 2022, outstanding and exercisable stock purchase warrants consisted of the following:

	Number of Shares			Weighted Average Exercise Price		Weighted Average Life Remaining (Years)
Outstanding at March 31, 2022		2,933,755		$	2.32		2.29
Granted		150,000			0.01		-
Exercised		(277,273	)		0.21		-
Forfeited or cancelled		(25,000	)		2.00		-
Outstanding at December 31, 2022		2,781,482		$	2.41		1.60
Exercisable at December 31, 2022		2,781,482		$	2.41		1.60

As of December 31, 2022, we had 2,781,482 warrants outstanding. Each warrant provides the holder the right to purchase up to one share of our Common Stock at a predetermined exercise price. The outstanding warrants consist of (1) warrants to purchase 911 shares of Common Stock at an exercise price of $1.65 per share until April 2025; (2) warrants to purchase 1,769,294 shares of our Common Stock at an exercise price of $2.00 per share consisting of 30% of the warrants until August 2024, and 70% until February 2026; (3) warrants to purchase 474,966 shares of Common Stock at an exercise price of $2.40 until September 2024; (4) warrants to purchase 386,311 shares of Common Stock at an exercise price of $2.63 until November 2025, and (5) warrants to purchase 150,000 shares of Common Stock at an exercise price of $6.72 until February 2024.

During the three months ended December 31, 2022, the Company issued 150,000 warrants for services to purchase 150,000 shares of Common Stock at an exercise price of $0.01. The total value of the 150,000 warrants was $427,639.

AMMO, Inc.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS