SEGMENTS

12 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

SEGMENTS

NOTE 19 – 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, 2023, 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, ammunition component and related products.

● Marketplace – which consists of the GunBroker.com Ecommerce 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 annual periods presented:

	For the Year Ended March 31, 2023
	Ammunition			Marketplace		Corporate and other expenses			Total
Net Revenues	$	128,290,128		$	63,149,673	$	-		$	191,439,801
Cost of Revenues		126,914,265			9,116,939		-			136,031,204
General and administrative expense		10,378,456			9,707,425		25,302,873			45,388,754
Depreciation and amortization		578,326			12,700,436		-			13,278,762
Income/(Loss) from Operations	$	(9,580,919	)	$	31,624,873	$	(25,302,873	)	$	(3,258,919	)

	For the Year Ended March 31, 2022
	Ammunition		Marketplace		Corporate and other expenses			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		11,932,721		8,434,308		17,544,970			37,911,999
Depreciation and amortization		1,579,778		12,122,370		-			13,702,148
Income/(Loss) from Operations	$	19,374,845	$	35,319,487	$	(17,544,970	)	$	37,149,362

	For the Year Ended March 31, 2021
	Ammunition		Marketplace		Corporate and other expenses		Total
Net Revenues	$	62,482,330	$	-	$	-	$	62,482,330
Cost of Revenues		51,095,679		-		-		51,095,679
General and administrative expense		4,269,558		-		10,837,834		15,107,392
Depreciation and amortization		1,659,243		-		-		1,659,243
Income/(Loss) from Operations	$	5,475,850	$	-	$	10,834,834	$	(5,379,984	)

Total assets by segment were as follows:

	March 31, 2023		March 31, 2022		March 31, 2021
Ammunition	$	154,044,607	$	160,305,107	$	179,379,341
Marketplace		258,290,780		253,873,206		-
	$	412,335,387	$	414,178,313	$	179,379,341

Total capital expenditures by segment were as follows:

	March 31, 2023		March 31, 2022		March 31, 2021
Ammunition	$	10,819,177	$	17,728,023	$	7,437,265
Marketplace		1,722,148		1,490,959		-
	$	12,541,325	$	19,218,982	$	7,437,265