AMMO INC
For the period ended Dec 31, 2023. Filed Feb 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 8, 2024
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM 10-Q
☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended December 31, 2023
OR
☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ________ to ________
(Exact Name of Registrant as Specified in its Charter)
| delaware | 001-13101 | 83-1950534 |
|---|---|---|
| (State of incorporation) | (Commission File No.) | (I.R.S. Identification Number) |
7681 E Gray Road, Scottsdale, AZ 85260
(Address of Principal Executive Offices) (Zip Code)
Registrant’s telephone number including area code:(480) 947-0001
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Common Stock, $0.001 par value | POWW | The Nasdaq Stock Market LLC (Nasdaq Capital Market) |
| 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.001 par value | POWWP | The Nasdaq Stock Market LLC (Nasdaq Capital Market) |
Indicate by check mark whether the issuer (1) filed all reports required to be filed by Sections 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer ☐ | Accelerated filer ☒ |
|---|---|
| Non-accelerated filer ☐ | Smaller reporting company ☐ |
| Emerging growth company ☐ | |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐No ☒
As of February 7, 2024, there were 118,660,984 shares of $0.001 par value Common Stock outstanding.
DOCUMENTS INCORPORATED BY REFERENCE: None.
TABLE OF CONTENTS
| PART I | ||
|---|---|---|
| ITEM 1: | 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 | 24 |
| ITEM 3: | QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK | 32 |
| ITEM 4: | CONTROLS AND PROCEDURES | 32 |
| PART II | ||
| ITEM 1: | LEGAL PROCEEDINGS | 34 |
| ITEM 1A: | 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 | 36 | |
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