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VENDOR NOTES RECEIVABLE (Table)
 3 Months Ended
Mar. 31, 2018
Notes to Financial Statements  
Vendor note receivable
Advanced Tactical Armament Concepts, L.L.C. Notes Payable Purchased by Ammo   Amount  
       
Western Alliance Bank – Balance outstanding as of October 24, 2016   $ 1,910,993  
Negotiated Discount with Western Alliance Bank to assume the Note Receivable     (360,993 )
AMMO, Inc. Net Purchase Price for Western Alliance Note Payable     1,550,000  
Mansfield, LLC Note Outstanding, inclusive of $135,000 fee outstanding     1,035,000  
 AMMO, Inc. Net Purchase Price to Acquire Notes Receivable of Western Alliance Bank & Mansfield LLC   $ 2,585,000  
Disposition of collateral

We reflected this transaction in the following manner:

        

Notes Receivable   $ (2,585,000 )
Vendor advances receivable     96,552  
Accounts receivable     20,965  
Inventories     644,447  
Equipment     543,115  
Loss on notes receivable     1,279,921  
    $ -