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GOODWILL AND INTANGIBLE ASSETS | 9 Months Ended
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Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | NOTE 13 – GOODWILL AND INTANGIBLE ASSETS In the current period, we recorded $90,870,094 of Goodwill generated from our Merger with Gemini. Amortization expenses related to our intangible assets for the three and nine months ended December 31, 2021 were $3,535,805 and $9,593,127, respectively. Amortization expenses related to our intangible assets for the three and nine months ended December 31, 2020 were $492,947 and $1,478,841, respectively. SCHEDULE OF INTANGIBLE ASSETS
|  |  |  |  | December 31, 2021 |
|  | Life |  |  | Licenses |  |  | Patent |  |  | Other Intangible Assets |
Licensing Agreement – Jesse James |  |  | 5 |  |  | $ | 125,000 |  |  | $ | - |  |  | $ | - |
Licensing Agreement – Jeff Rann |  |  | 5 |  |  |  | 125,000 |  |  |  | - |  |  |  | - |
Streak Visual Ammunition patent |  |  | 11.2 |  |  |  | - |  |  |  | 950,000 |  |  |  | - |
SWK patent acquisition |  |  | 15 |  |  |  | - |  |  |  | 6,124,005 |  |  |  | - |
Jagemann Munition Components: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer Relationships |  |  | 3 |  |  |  | - |  |  |  | - |  |  |  | 1,450,613 |
Intellectual Property |  |  | 3 |  |  |  | - |  |  |  | - |  |  |  | 1,543,548 |
Tradename |  |  | 5 |  |  |  | - |  |  |  | - |  |  |  | 2,152,076 |
GDI Acquisition: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tradename |  |  | 15 |  |  |  | - |  |  |  | - |  |  |  | 76,532,389 |
Customer List |  |  | 10 |  |  |  | - |  |  |  | - |  |  |  | 65,252,802 |
Intellectual Property |  |  | 10 |  |  |  | - |  |  |  | - |  |  |  | 4,224,442 |
Other Intangible Assets |  |  | 5 |  |  |  | - |  |  |  | - |  |  |  | 607,747 |
|  |  |  |  |  |  | 250,000 |  |  |  | 7,074,005 |  |  |  | 151,763,617 |
Accumulated amortization – Licensing Agreements |  |  |  |  |  |  | (245,833 | ) |  |  | - |  |  |  | - |
Accumulated amortization – Patents |  |  |  |  |  |  | - |  |  |  | (1,424,443 | ) |  |  | - |
Accumulated amortization – Intangible Assets |  |  |  |  |  |  | - |  |  |  | - |  |  |  | (12,110,901 | )
|  |  |  |  |  | $ | 4,167 |  |  | $ | 5,649,562 |  |  | $ | 139,652,716 |
Annual amortization of intangible assets for the next five fiscal years are as follows: SCHEDULE OF ANNUAL AMORTIZATION OF INTANGIBLE ASSET
Years Ended March 31, |  | Estimates for Fiscal Year |
2022 (1) |  | $ | 3,479,832 |
2023 |  |  | 13,095,215 |
2024 |  |  | 13,074,489 |
2025 |  |  | 12,664,775 |
2026 |  |  | 12,674,904 |
Thereafter |  |  | 90,317,230 |
Annual amortization of intangible assets |  | $ | 145,306,445 |
(1) | This amount represents future amortization for the remaining three months of fiscal year 2022. It does not include any amortization for the nine months ended December 31, 2021.
AMMO, Inc. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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