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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UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Issuances
The authorized capital of the Company is 200,000,000 shares of Common Stock with a par value of $0.001 per share and 10,000,000 shares of Preferred Stock with a $0.001 par value per share.
There were no unregistered sales of the Company’s equity securities during the quarter ended December 31, 2023.
Share Repurchases
On February 8, 2022, we announced that our Board of Directors authorized a share repurchase program for up to $30.0 million of our outstanding common stock. On March 28, 2023, we announced that our Board of Directors authorized the extension of our repurchase program until February 2024. On February 6, 2024, our Board of Directors authorized the extension of our repurchase program until February 2025.
Under the Share Repurchase Program, the Company is authorized to repurchase shares through open market purchases, privately-negotiated transactions, accelerated share repurchases or otherwise in accordance with applicable federal securities laws, including through Rule 10b5-1 trading plans and under Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The repurchases have no time limit and may be suspended or discontinued completely at any time. The specific timing and amount of repurchases will vary based on available capital resources and other financial and operational performance, market conditions, securities law limitations, and other factors. The repurchases will be made using the Company’s cash resources.
The following table summarizes our share repurchases under our repurchase program for our third fiscal quarter of our 2024 fiscal year.
| Period | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Maximum Number of Shares that may yet be Purchased Under the Plan or Programs(1) |
|---|---|---|---|---|
| October 2023 · - · - | ||||
| November 2023 | 11,000 | $2.00 | 11,000 | |
| December 2023 | 134,483 | $2.02 | 134,483 | |
| Total | 145,483 | $2.01 | 145,483 | 13,025,593 |
| (1) | The maximum number of shares that may yet be repurchased included herein is determined based on the closing price of our Common Stock of $2.10 on December 29, 2023. This amount may change based on the price that our Common Stock trades at. |
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