AMMO, INC. Files 10-Q for Q3 2024

TL;DR

<b>AMMO, INC. has filed its Q3 2024 10-Q report, detailing financial performance for the period ending December 31, 2023.</b>

AI Summary

AMMO, INC. (POWWP) filed a Quarterly Report (10-Q) with the SEC on February 8, 2024. AMMO, INC. filed its quarterly report (10-Q) for the period ending December 31, 2023. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on March 31st. AMMO, INC. is incorporated in Delaware. The company's primary business is in Ordnance & Accessories.

Why It Matters

For investors and stakeholders tracking AMMO, INC., this filing contains several important signals. This filing provides investors with the latest financial data to assess the company's performance and make informed investment decisions. Understanding the quarterly results is crucial for tracking AMMO, INC.'s progress against its strategic goals and market conditions.

Risk Assessment

Risk Level: medium — AMMO, INC. shows moderate risk based on this filing. The company's financial health and operational performance are subject to market demand for ammunition and related products, as well as potential regulatory changes in the firearms industry.

Analyst Insight

Investors should review the detailed financial statements and management's discussion and analysis in the 10-Q to understand the company's current financial position and future outlook.

Key Numbers

• 2023-12-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-02-08 — Filing Date (FILED AS OF DATE)
• 0331 — Fiscal Year End (FISCAL YEAR END)

Key Players & Entities

• AMMO, INC. (company) — FILER
• 0001493152-24-005477 (other) — ACCESSION NUMBER
• 20231231 (date) — CONFORMED PERIOD OF REPORT
• 20240208 (date) — FILED AS OF DATE
• DE (other) — STATE OF INCORPORATION
• 3480 (other) — STANDARD INDUSTRIAL CLASSIFICATION
• POWWP (ticker) — ticker symbol

Forward-Looking Statements

• AMMO, INC. will continue to face revenue pressure in its ammunition segment. (AMMO, INC.) — medium confidence, target: 2024-09-30

FAQ

Industry Context

AMMO, INC. operates in the Ordnance & Accessories industry, which is subject to demand fluctuations and regulatory oversight.

Regulatory Implications

Companies in the ordnance and accessories sector may face specific regulations related to manufacturing, sales, and distribution of their products.

What Investors Should Do

1. Analyze the revenue breakdown by segment to understand growth drivers.
2. Examine the balance sheet for changes in debt and equity.
3. Review management's discussion and analysis for insights into operational challenges and opportunities.

Year-Over-Year Comparison

This is the initial filing analyzed for the specified period.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value POWW The Nasdaq Stock Mar

Filing Documents

• form10-q.htm (10-Q) — 1146KB
• ex31-1.htm (EX-31.1) — 16KB
• ex31-2.htm (EX-31.2) — 15KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• 0001493152-24-005477.txt (&nbsp;) — 6324KB
• poww-20231231.xsd (EX-101.SCH) — 54KB
• poww-20231231_cal.xml (EX-101.CAL) — 70KB
• poww-20231231_def.xml (EX-101.DEF) — 229KB
• poww-20231231_lab.xml (EX-101.LAB) — 418KB
• poww-20231231_pre.xml (EX-101.PRE) — 320KB
• form10-q_htm.xml (XML) — 1001KB

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 3 Condensed Consolidated Balance Sheets as of December 31, 2023 (Unaudited) and March 31, 2023 3 Condensed Consolidated Statements of Operations (Unaudited) for the three and nine months ended December 31, 2023, and 2022 4 Condensed Consolidated Statement of Shareholders' Equity (Unaudited) for the three and nine months ended December 31, 2023, and 2022 5 Condensed Consolidated Statements of Cash flow (Unaudited) for the nine months ended December 31, 2023, and 2022 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 8 ITEM 2:

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION 24 ITEM 3: QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK 32 ITEM 4:

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 32 PART II ITEM 1:

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 34 ITEM 1A:

RISK FACTORS

RISK FACTORS 34 ITEM 2: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 34 ITEM 3: DEFAULTS UPON SENIOR SECURITIES 34 ITEM 4: MINE SAFETY DISCLOSURE 34 ITEM 5: OTHER INFORMATION 35 ITEM 6: EXHIBITS 35

SIGNATURES

SIGNATURES 36 2 PART I ITEM 1. FINANCIAL STATEMENTS AMMO, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS December 31, 2023 March 31, 2023 (Unaudited) ASSETS Current Assets: Cash and cash equivalents $ 54,679,868 $ 39,134,027 Accounts receivable, net 21,121,450 29,346,380 Inventories 49,502,732 54,344,819 Prepaid expenses 3,708,865 5,126,667 Current portion of restricted cash - 500,000 Total Current Assets 129,012,915 128,451,893 Equipment, net 57,278,603 55,963,255 Other Assets: Deposits 2,265,932 7,028,947 Patents, net 4,662,656 5,032,754 Other intangible assets, net 114,296,627 123,726,810 Goodwill 90,870,094 90,870,094 Right of use assets - operating leases 2,113,943 1,261,634 Deferred income tax asset 115,908 - TOTAL ASSETS $ 400,616,678 $ 412,335,387 LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities: Accounts payable $ 19,146,138 $ 18,079,397 Accrued liabilities 6,570,668 4,353,354 Current portion of operating lease liability 463,059 470,734 Note payable related party - 180,850 Current portion of construction note payable 265,977 260,429 Insurance premium note payable 173,029 2,118,635 Total Current Liabilities 26,618,871 25,463,399 Long-term Liabilities: Contingent consideration payable 80,080 140,378 Construction note payable, net of unamortized issuance costs 10,797,696 10,922,443 Operating lease liability, net of current portion 1,737,615 903,490 Deferred income tax liability - 2,309,592 Total Liabilities 39,234,262 39,739,302 Shareholders' Equity: Series A cumulative perpetual preferred Stock 8.75 %, ($ 25.00 per share, $ 0.001 par value) 1,400,000 shares issued and outstanding as of December 31, 2023 and March 31, 2023, respectively 1,400 1,400 Common stock, $ 0.001 par value, 200,000,000 shares authorized 119,994,033 and 118,562,806 shares issued and 118,643,593 and 118,294,478 outstanding at December 31, 2023 and

View Full Filing

View this 10-Q filing on SEC EDGAR