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v3.19.3.a.u2

Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended
--- | --- | ---
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018
Net Sales | $ 2,772,009 | $ 489,080 | $ 10,025,144 | $ 3,201,967
Cost of Goods Sold, includes depreciation and amortization of $771,463, $97,219 $2,108,269 and $266,321, respectively, and federal excise taxes of $138,529, $44,663, $374,132, and $327,492, respectively | 3,662,196 | 580,166 | 12,286,591 | 2,960,262
Gross Margin | (890,187) | (91,086) | (2,261,447) | 241,705
Operating Expenses |  |  |  |
Selling and marketing | 238,439 | 387,660 | 748,014 | 967,465
Corporate general and administrative | 730,991 | 813,723 | 2,784,984 | 2,214,560
Employee salaries and related expenses | 846,724 | 847,729 | 2,898,932 | 2,523,468
Depreciation and amortization expense | (56,247) | 28,387 | 848,995 | 63,157
Total operating expenses | 1,759,907 | 2,077,499 | 7,280,925 | 5,768,650
Loss from Operations | (2,650,094) | (2,168,585) | (9,542,372) | (5,526,945)
Other (Expenses) |  |  |  |
Gain on bargain purchase |  | 1,599,161 |  | 1,599,161
Interest (income)/expense | (214,328) | (43,118) | (607,710) | (46,022)
(Loss) before Income Taxes | (2,864,422) | (612,542) | (10,150,082) | (3,973,806)
Provision for Income Taxes |  |  |  |
Net (Loss) | $ (2,864,422) | $ (612,542) | $ (10,150,082) | $ (3,973,806)
Basic and fully diluted: |  |  |  |
Weighted average number of shares outstanding | 45,767,635 | 34,247,599 | 45,267,036 | 32,372,165
(Loss) per share | $ (0.06) | $ (0.02) | $ (0.22) | $ (0.12)
Ammunition Sales [Member] |  |  |  |
Net Sales | $ 1,246,414 | $ 489,080 | $ 3,703,669 | $ 3,201,967
Casing Sales [Member] |  |  |  |
Net Sales | $ 1,525,595 |  | $ 6,321,475 |

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