<SEC-DOCUMENT>0000921895-22-002912.txt : 20221107
<SEC-HEADER>0000921895-22-002912.hdr.sgml : 20221107
<ACCEPTANCE-DATETIME>20221107172149
ACCESSION NUMBER:		0000921895-22-002912
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20221107
DATE AS OF CHANGE:		20221107

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMMO, INC.
		CENTRAL INDEX KEY:			0001015383
		STANDARD INDUSTRIAL CLASSIFICATION:	ORDNANCE & ACCESSORIES, (NO VEHICLES/GUIDED MISSILES) [3480]
		IRS NUMBER:				300957912
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-53085
		FILM NUMBER:		221366520

	BUSINESS ADDRESS:	
		STREET 1:		7681 E. GRAY RD
		STREET 2:		SCOTTSDALE
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85260
		BUSINESS PHONE:		480-947-0001

	MAIL ADDRESS:	
		STREET 1:		7681 E. GRAY RD
		STREET 2:		SCOTTSDALE
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85260

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RETROSPETTIVA INC
		DATE OF NAME CHANGE:	19970602

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Urvan Steven F.
		CENTRAL INDEX KEY:			0001859485

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	MAIL ADDRESS:	
		STREET 1:		7999 N. FEDERAL HWY, #421
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33487
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>sc13da313478002_11072022.htm
<DESCRIPTION>AMENDMENT NO. 3 TO THE SCHEDULE 13D
<TEXT>
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<p style="margin: 0"></p>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0"><b>UNITED STATES</b></p>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0"><b>SECURITIES AND EXCHANGE
COMMISSION</b></p>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0"><b>Washington, D.C. 20549</b></p>

<p></p>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0"><b>SCHEDULE 13D</b></p>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0">(Rule 13d-101)</p>

<p></p>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0">INFORMATION TO BE INCLUDED
IN STATEMENTS FILED PURSUANT</p>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0">TO &#167;&#160;240.13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO</p>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0">&#167;&#160;240.13d-2(a)</p>

<p></p>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0">(Amendment No. 3)<FONT STYLE="font-size: 8pt"><SUP>1</SUP></FONT></p>

<p></p>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0"><font style="font-weight: normal"><u></U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>AMMO, INC.</U></P>
<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-weight: normal"><U></u></font></p>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0">(Name
of Issuer)</p>

<p></p>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0"><font style="font-weight: normal"><u></U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>Common Stock, par value $0.001 per share</U></P>
<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-weight: normal"><U></u></font></p>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0">(Title of Class of Securities)</p>

<p></p>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0"><u></U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>00175J107</U></P>
<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0"><U></u></p>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0">(CUSIP Number)</p>

<p style="text-indent: 0pt; margin-right: 0; margin-left: 0"></p>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0"><font style="font-weight: normal"></U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Steven F. Urvan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">7491 N Federal Highway</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in">STE C5 PMB 379</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Boca Raton, FL 33487</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(480) 947-0001</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Steve Wolosky, Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Meagan Reda, Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Olshan Frome Wolosky LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">1325 Avenue of the Americas</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">New York, New York 10019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>(212) 451-2300</U></P>
<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-weight: normal"><U></u></font></p>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0">(Name, Address and Telephone Number of Person</p>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0">Authorized to Receive Notices
and Communications)</p>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-weight: normal"><U></U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>November 3, 2022</U></P>
<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-weight: normal"><U></U></FONT></p>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0">(Date of Event Which Requires
Filing of This Statement)</P>

<P STYLE="text-align: center; display: block; margin-top: 0; margin-bottom: 0">&nbsp;</p>

<P STYLE="text-indent: 36pt; margin: 0; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule
13D, and is filing this schedule because of &#167;&#167;&#160;240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following
box </FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">.</FONT></p>

<P STYLE="text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif"><i>Note:</i>&#160;&#160;Schedules
filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.&#160;&#160;<i>See
</i>&#167;&#160;240.13d-7 for other parties to whom copies are to be sent.</P>

<P STYLE="text-align: left; display: block; margin-top: 0; margin-bottom: 0">&nbsp;</p>
<P STYLE="text-align: left; display: block; margin-top: 0; margin-bottom: 0">&nbsp;</p>

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<P STYLE="margin-top: 0; margin-bottom: 6pt"><FONT STYLE="font-size: 7pt">1</FONT>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
The remainder of this cover page shall be filled out for a reporting person&#8217;s initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided
in a prior cover page.</p>

<p style="text-indent: 36pt; margin-right: 0; margin-left: 0; font: 10pt Times New Roman, Times, Serif">The information required
on the remainder of this cover page shall not be deemed to be &#8220;filed&#8221; for the purpose of Section 18 of the Securities
Exchange Act of 1934 (&#8220;Act&#8221;) or otherwise subject to the liabilities of that section of the Act but shall be subject
to all other provisions of the Act (however, <I>see</I> the <I>Notes</I>).</p>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">CUSIP No. 00175J107</P></DIV>
    <!-- Field: /Page -->

<p style="text-align: center; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt">
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    <TD STYLE="width: 5%; padding-left: 6pt"></TD>
    <TD STYLE="width: 5%"></TD>
    <TD STYLE="width: 5%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-top: black 2.25pt double; border-left: black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 2.25pt double; text-align: center; vertical-align: top">1</TD>
    <TD STYLE="border-top: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-top: Black 2.25pt double; border-left: Black 1pt solid; padding-left: 6pt">NAME OF REPORTING PERSON</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="text-align: left; vertical-align: middle">	Steven F. Urvan</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">2</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">(a) &#9744;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 2.25pt double">(b) &#9744;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="text-align: left; vertical-align: middle">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">3</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">SEC USE ONLY</TD>
    <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="text-align: left; vertical-align: middle"></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">4</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">SOURCE OF FUNDS</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="text-align: left; vertical-align: middle">	OO</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">5</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 2.25pt double">&nbsp;&nbsp;&nbsp;&nbsp;&#9744;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-left: Black 1pt solid; padding-left: 6pt"></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="text-align: left; vertical-align: middle">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">6</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">CITIZENSHIP OR PLACE OF ORGANIZATION</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="text-align: left; vertical-align: middle">	United States</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; border-top: Black 1pt solid; text-align: center; vertical-align: top">NUMBER OF</TD>
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: middle">7</TD>
    <TD STYLE="border-right: Black 1pt solid; border-top: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="border-top: Black 1pt solid; padding-left: 6pt">SOLE VOTING POWER</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">SHARES</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">BENEFICIALLY</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="text-align: left; vertical-align: middle">	20,050,000</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">OWNED BY</TD>
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: middle">8</TD>
    <TD STYLE="border-right: Black 1pt solid; border-top: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="border-top: Black 1pt solid; padding-left: 6pt">SHARED VOTING POWER</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">EACH</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">REPORTING</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="text-align: left; vertical-align: middle">	0</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">PERSON WITH</TD>
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: middle">9</TD>
    <TD STYLE="border-right: Black 1pt solid; border-top: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="border-top: Black 1pt solid; padding-left: 6pt">SOLE DISPOSITIVE POWER</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top"> </TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="text-align: left; vertical-align: middle">	20,050,000</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: middle">10</TD>
    <TD STYLE="border-right: Black 1pt solid; border-top: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="border-top: Black 1pt solid; padding-left: 6pt">SHARED DISPOSITIVE POWER</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="text-align: left; vertical-align: middle">	0</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">11</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="text-align: left; vertical-align: middle">	20,050,000 (1)</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">12</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 2.25pt double">&nbsp;&nbsp;&nbsp;&nbsp;&#9744;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-left: Black 1pt solid"></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="text-align: left; vertical-align: middle">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">13</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="text-align: left; vertical-align: middle">	17.14% (2)</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">14</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">TYPE OF REPORTING PERSON</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; border-bottom: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.25pt double; border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-bottom: Black 2.25pt double; text-align: left; vertical-align: middle">	IN</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-bottom: Black 2.25pt double">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">Consists of 20,050,000 shares of common stock of the Issuer held directly by Mr. Urvan.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Percentage of class based on 116,961,005 total outstanding shares of common stock of the Issuer as reported
in the Issuer&rsquo;s Form 10-Q filed on August 15, 2022.</TD></TR></TABLE>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: center"><TD STYLE="width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">CUSIP No. 00175J107</P></DIV>
    <!-- Field: /Page -->

<p style="text-align: center"></p>

<P STYLE="margin-top: 0; margin-bottom: 0"></p>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 5%; text-align: center; vertical-align: top"></TD>
    <TD STYLE="width: 5%; text-align: center; vertical-align: top"></TD>
    <TD STYLE="width: 5%; text-align: center; vertical-align: top"></TD>
    <TD STYLE="width: 5%; border-left: Black 1pt solid; padding-left: 6pt"></TD>
    <TD STYLE="width: 5%; text-align: center; vertical-align: middle"></TD>
    <TD STYLE="width: 5%; padding-left: 6pt"></TD>
    <TD STYLE="width: 5%; padding-left: 6pt"></TD>
    <TD STYLE="width: 5%; padding-left: 6pt"></TD>
    <TD STYLE="width: 5%; padding-left: 6pt"></TD>
    <TD STYLE="width: 5%; padding-left: 6pt"></TD>
    <TD STYLE="width: 5%; padding-left: 6pt"></TD>
    <TD STYLE="width: 5%; padding-left: 6pt"></TD>
    <TD STYLE="width: 5%; padding-left: 6pt"></TD>
    <TD STYLE="width: 5%; padding-left: 6pt"></TD>
    <TD STYLE="width: 5%; padding-left: 6pt"></TD>
    <TD STYLE="width: 5%; padding-left: 6pt"></TD>
    <TD STYLE="width: 5%; padding-left: 6pt"></TD>
    <TD STYLE="width: 5%; padding-left: 6pt"></TD>
    <TD STYLE="width: 5%"></TD>
    <TD STYLE="width: 5%"></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-top: black 2.25pt double; border-left: black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 2.25pt double; text-align: center; vertical-align: top">1</TD>
    <TD STYLE="border-top: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-top: Black 2.25pt double; border-left: Black 1pt solid; padding-left: 6pt">NAME OF REPORTING PERSON</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="text-align: left; vertical-align: middle">	Susan T. Lokey</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">2</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">(a) &#9744;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 2.25pt double">(b) &#9744;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="text-align: left; vertical-align: middle">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">3</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">SEC USE ONLY</TD>
    <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="text-align: left; vertical-align: middle"></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">4</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">SOURCE OF FUNDS</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="text-align: left; vertical-align: middle">	OO</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">5</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 2.25pt double">&nbsp;&nbsp;&nbsp;&nbsp;&#9744;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-left: Black 1pt solid; padding-left: 6pt"></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="text-align: left; vertical-align: middle">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">6</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">CITIZENSHIP OR PLACE OF ORGANIZATION</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="text-align: left; vertical-align: middle">	United States</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; border-top: Black 1pt solid; text-align: center; vertical-align: top">NUMBER OF</TD>
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: middle">7</TD>
    <TD STYLE="border-right: Black 1pt solid; border-top: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="border-top: Black 1pt solid; padding-left: 6pt">SOLE VOTING POWER</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">SHARES</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">BENEFICIALLY</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="text-align: left; vertical-align: middle">	40,000</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">OWNED BY</TD>
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: middle">8</TD>
    <TD STYLE="border-right: Black 1pt solid; border-top: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="border-top: Black 1pt solid; padding-left: 6pt">SHARED VOTING POWER</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">EACH</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">REPORTING</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="text-align: left; vertical-align: middle">	0</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">PERSON WITH</TD>
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: middle">9</TD>
    <TD STYLE="border-right: Black 1pt solid; border-top: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="border-top: Black 1pt solid; padding-left: 6pt">SOLE DISPOSITIVE POWER</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top"> </TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="text-align: left; vertical-align: middle">	40,000</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: middle">10</TD>
    <TD STYLE="border-right: Black 1pt solid; border-top: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="border-top: Black 1pt solid; padding-left: 6pt">SHARED DISPOSITIVE POWER</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="13" STYLE="padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD COLSPAN="3" STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: middle">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="12" STYLE="text-align: left; vertical-align: middle">	0</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">11</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="text-align: left; vertical-align: middle">	40,000 (1)</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">12</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</TD>
    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; border-right: Black 2.25pt double">&nbsp;&nbsp;&nbsp;&nbsp;&#9744;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-left: Black 1pt solid"></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="14" STYLE="text-align: left; vertical-align: middle">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">13</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="text-align: left; vertical-align: middle">	Less than 1% (2)</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">14</TD>
    <TD STYLE="border-top: Black 1pt solid; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 6pt">TYPE OF REPORTING PERSON</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-top: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="16" STYLE="border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="border-left: Black 2.25pt double; border-bottom: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.25pt double; text-align: center; vertical-align: top">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.25pt double; border-left: Black 1pt solid; padding-left: 6pt">&nbsp;</TD>
    <TD COLSPAN="15" STYLE="border-bottom: Black 2.25pt double; text-align: left; vertical-align: middle">	IN</TD>
    <TD STYLE="border-right: Black 2.25pt double; border-bottom: Black 2.25pt double">&nbsp;</TD></TR>
</TABLE>
<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">Consists of 40,000 shares of common stock of the Issuer held directly by Ms. Lokey.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Percentage of class based on 116,961,005 total outstanding shares of common stock of the Issuer as reported
in the Issuer&rsquo;s Form 10-Q filed on August 15, 2022.</TD></TR></TABLE>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">CUSIP No. 00175J107</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This Amendment No. 3 amends and supplements
the Schedule 13D filed by Steven F. Urvan on May 10, 2021 (the &ldquo;Original Schedule 13D&rdquo;), as amended by Amendment No. 1 filed
on November 30, 2021 (&ldquo;Amendment No. 1&rdquo;) and Amendment No. 2 filed on August 29, 2022 (&ldquo;Amendment No. 2,&rdquo; and
together with the Original Schedule 13D and Amendment No. 1, the &ldquo;Schedule 13D&rdquo;). Each Item below amends and supplements the
information disclosed under the corresponding Item of the Schedule 13D. Unless otherwise indicated herein, capitalized terms used but
not defined in this Amendment No. 3 shall have the same meaning herein as are ascribed to such terms in the Schedule 13D.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Item 2 Identity and Background.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-weight: normal">Item 2 is
hereby amended to add the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-weight: normal">In connection
with the Settlement Agreement defined and described in Item 4 below, Susan T. Lokey is no longer a member of the Section 13(d) group and
shall cease to be a Reporting Person immediately after the filing of this Amendment No. 3. Mr. Urvan will continue filing statements on
Schedule 13D with respect to his beneficial ownership of securities of the Issuer to the extent required by applicable law.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Item 3 Source and Amount of Funds or Other
Consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-weight: normal">Item 3 is
hereby amended and restated as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Mr. Urvan acquired 20,000,000 shares of Common
Stock pursuant to an Agreement and Plan of Merger, dated as of April 30, 2021 (the &ldquo;Merger Agreement&rdquo;), by and among Mr. Urvan,
Gemini Direct Investments, LLC (&ldquo;Gemini&rdquo;), the Issuer and SpeedLight Group I, LLC (&ldquo;SpeedLight&rdquo;), whereby SpeedLight
merged (the &ldquo;Merger&rdquo;) with and into Gemini, with SpeedLight surviving the merger as a wholly owned subsidiary of the Issuer.
Pursuant to the Merger Agreement, the Issuer acquired from Mr. Urvan 100% of the equity of Gemini which owns 100% of the Gunrboker.com
business (the &ldquo;Acquisition&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As consideration for the Acquisition, on April
30, 2021, (i) the Issuer assumed an aggregate amount of indebtedness of Gemini and its subsidiaries equal to $50,000,000; and, (ii) the
issued and outstanding membership interests in Gemini, held by Mr. Urvan, automatically converted into the right to receive (A) $50,000,000,
and (B) 20,000,000 shares of Common Stock of the Issuer, $0.001 par value per share (the &ldquo;Stock Consideration&rdquo;). The Stock
Consideration consisted of: (a) 14,500,000 shares issued without being held in escrow or requiring prior stockholder approval (the &ldquo;Initial
Shares&rdquo;); (b) 4,000,000 shares issued subject to a Pledge and Escrow Agreement (the &ldquo;Pledged Securities&rdquo;); and (c) 1,500,000
shares whose issuance was contingent upon stockholder approval for the issuance (the &ldquo;Additional Securities&rdquo;). The issuance
of the Additional Securities was approved at the Issuer&rsquo;s 2021 Annual Meeting of Shareholders and were issued on November 9, 2021
in accordance with the terms of the Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Further, the Issuer has granted Mr. Urvan an
aggregate of 50,000 shares of restricted Common Stock as compensation for Mr. Urvan&rsquo;s service as a member of the Board of Directors
of the Issuer (the &ldquo;Board&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-weight: normal">Ms. Lokey
received 40,000 shares of Common Stock from the Issuer.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Item 4 Purpose of Transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-weight: normal">Item 4 is
hereby amended to add the following: </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On November 3, 2022, the Reporting Persons entered
into a Settlement Agreement (the &ldquo;Settlement Agreement&rdquo;) with the Issuer. The following description of the Settlement Agreement
is qualified in its entirety by reference to the Settlement Agreement, which is attached as Exhibit 99.1 hereto and is incorporated herein
by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">CUSIP No. 00175J107</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the terms of the Settlement Agreement,
the Issuer agreed to immediately increase the size of the Board from seven (7) to nine (9) directors and appoint Wayne Walker and Christos
Tsentas (the &ldquo;New Directors&rdquo; and, together with Mr. Urvan, the &ldquo;Urvan Group Directors&rdquo;) to the Board. The Issuer
also agreed to, among other things, (i) include the Urvan Group Directors in its director slate for the 2022 annual meeting of stockholders
(the &ldquo;2022 Annual Meeting&rdquo;) and for any subsequent annual meeting of stockholders of the Issuer occurring prior to the Termination
Date (as defined below), and recommend the election of the Urvan Group Directors to the stockholders of the Issuer and solicit proxies
for the election of the Urvan Group Directors at the 2022 Annual Meeting and for any subsequent annual meeting of stockholders of the
Issuer occurring prior to the Termination Date, (ii) not increase the size of the Board above nine (9) directors unless such increase
has been approved by at least seven (7) directors prior to the Termination Date, (iii) convene the 2022 Annual Meeting no later than December
15, 2022, and (iv) appoint each New Director to at least one (1) standing committee of the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, the Issuer agreed to immediately form,
and publicly announce the formation of, a new committee of the Board, consisting of one of the New Directors (to be chosen by the Urvan
Group), Mr. Urvan and two directors who are not Urvan Group Directors or the CEO, which would be charged with planning the succession
for the CEO of the Issuer with the assistance of a nationally recognized search firm (the &ldquo;CEO Succession Committee&rdquo;). The
CEO Succession Committee would be chaired by a director who is not an Urvan Group Director. Upon the CEO Succession Committee&rsquo;s
selection of a new CEO candidate, and subject to the Board&rsquo;s fiduciary duties under applicable law, the Board will promptly appoint
such individual as the new CEO and one incumbent director who is not an Urvan Group Director shall resign from the Board to create a vacancy
for the new CEO&rsquo;s appointment to the Board as a director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the Settlement Agreement, the Issuer will
also suspend the previously announced separation of the Issuer into Action Outdoor Sports, Inc. and Outdoor Online, Inc., pending the
further evaluation of strategic options by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Settlement Agreement also provides that until
the Termination Date and as long as Mr. Urvan&rsquo;s net long position remains at or above the lesser of 10% of the outstanding shares
of Common Stock and 11,729,976 shares of Common Stock (subject to adjustment for stock splits, reclassifications, combinations, and recapitalizations)
(the &ldquo;Ownership Minimum Requirement&rdquo;), in the event any Urvan Group Director is no longer able to serve as a director of the
Issuer for any reason, Mr. Urvan shall be entitled to designate a candidate for replacement for such Urvan Group Director, subject to
the prompt approval of the Board (which approval shall not be unreasonably withheld). In addition, Mr. Urvan agreed to deliver to the
Company an executed irrevocable resignation letter, which provides that Mr. Urvan will tender his resignation as a director if Mr. Urvan&rsquo;s
and his affiliates&rsquo; aggregate net long position falls below the Ownership Minimum Requirement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the terms of the Settlement Agreement,
the Reporting Persons agreed to withdraw their notice of stockholder nomination of seven (7) director candidates, and demand to inspect
books and records, pursuant to Section 220 of the General Corporation Law of the State of Delaware. Further, the Reporting Persons agreed,
among other things, that until the Termination Date, the Reporting Persons will vote all shares of Common Stock beneficially owned by
them and over which they have direct or indirect voting power in accordance with the Board&rsquo;s recommendations, as such recommendations
of the Board are set forth in the applicable definitive proxy statement filed in respect thereof with respect to (a) the election, removal
and/or replacement of directors (a &ldquo;Director Proposal&rdquo;) and (b) any other proposal submitted to stockholders; <I>provided</I>,
<I>however</I>, that in the event that Institutional Shareholder Services Inc. (&ldquo;ISS&rdquo;) or Glass Lewis &amp; Co., LLC (&ldquo;Glass
Lewis&rdquo;) recommends otherwise with respect to any proposals (other than a Director Proposal), the Reporting Persons shall be permitted
to vote in accordance with the ISS or Glass Lewis recommendation; provided, further that the Reporting Persons shall be permitted to vote
in their sole discretion with respect to any extraordinary transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">CUSIP No. 00175J107</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the terms of the Settlement Agreement,
the Reporting Persons will be subject to customary standstill restrictions, including, among others, with respect to acquiring beneficial
ownership of more than 18.5% of the shares of Common Stock in the aggregate (subject to adjustment for stock splits, reclassifications,
combinations, and recapitalizations), proxy solicitations and related matters, extraordinary transactions and other changes, each of the
foregoing subject to certain exceptions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Issuer and the Reporting Persons also made certain
customary representations, agreed to mutual non-disparagement provisions and agreed to issue a press release announcing certain terms
of the Settlement Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Pursuant to the Settlement Agreement, Mr. Urvan and
Ms. Lokey have delivered letters of resignation from their respective positions of employment with the Issuer to be effective upon the
later of (i) the conclusion of the 2022 Annual Meeting and (ii) December 31, 2022. The Issuer agreed to disclose in a press release the
end of the investigation into Ms. Lokey and Mr. Urvan previously announced on September 6, 2022. Although the Reporting Persons have determined
to resign from their positions as employees of the Issuer, they believe they conducted themselves with integrity, dedication and the highest
standards of care and intend to do the same with respect to any future endeavors. Mr. Urvan will remain on the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Settlement Agreement terminates upon the earlier
of (i) the date that is thirty (30) days prior to the earlier of (A) the deadline set forth in the notice requirements of Federal &ldquo;Universal
Proxy Rules&rdquo; promulgated under Rule 14a-19(a) and Rule 14a-19(b) under the Securities Exchange Act of 1934, as amended (the &ldquo;UPR
Deadline&rdquo;) relating to the Issuer&rsquo;s 2023 annual meeting of stockholders (the &ldquo;2023 Annual Meeting&rdquo;) and (B) any
deadline that may be set forth in the Issuer&rsquo;s Amended and Restated Certificate of Incorporation or Bylaws following the execution
of the Settlement Agreement relating to the nomination of director candidates for election to the Board at the 2023 Annual Meeting, and
(ii) ninety (90) calendar days prior to the first anniversary of the 2022 Annual Meeting (such date, the &ldquo;Termination Date&rdquo;).
However, if the Issuer notifies Mr. Urvan in writing at least fifteen (15) days prior to such Termination Date that the Board irrevocably
offers to re-nominate the Urvan Group Directors for election at the 2023 Annual Meeting and Mr. Urvan accepts such offer within fifteen
(15) days of receipt of such notice, the Termination Date will be automatically extended until the earlier of (i) 30 days prior to the
earlier of (A) the UPR Deadline relating to the Company&rsquo;s 2024 annual meeting of stockholders (the &ldquo;2024 Annual Meeting&rdquo;)
and (B) any deadline that may be set forth in the Issuer&rsquo;s Certificate of Incorporation or the Bylaws following execution of the
Settlement Agreement relating to the nomination of director candidates for election to the Board at the 2024 Annual Meeting, and (ii)
90 days prior to the first anniversary of the 2023 Annual Meeting. Notwithstanding the foregoing, the &ldquo;Termination Date&rdquo; shall
not occur prior to 20 days after Mr. Urvan&rsquo;s departure from the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Item 5 Interest in Securities of the Issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Item 5 is hereby amended and restated as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(a) As of the date hereof, Mr. Urvan beneficially
owns 20,050,000 shares of Common Stock of the Issuer, representing approximately 17.14% of the total issued and outstanding shares of
the Issuer&rsquo;s Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As of the date hereof, Ms. Lokey beneficially
owns 40,000 shares of Common Stock of the Issuer, representing less than 1% of the total issued and outstanding shares of the Issuer&rsquo;s
Common Stock.</P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">CUSIP No. 00175J107</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(b) Mr. Urvan holds sole voting and dispositive
power over the Initial Shares and the Additional Securities. Pursuant to the Pledge and Escrow Agreement and the Company Lock-Up Agreement,
each as defined and described in Item 6 of the Schedule 13D, Mr. Urvan has sole voting rights with respect to the Pledged Securities but
may not sell or transfer the Pledged Securities without the consent of the Issuer, until such restrictions are removed pursuant to the
terms of the Pledge and Escrow Agreement and the Lock-Up Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Ms. Lokey holds sole voting and dispositive
power over the shares of Common Stock of the Issuer directly held by her.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(c) Other than 10,000 restricted shares of
Common Stock of the Issuer awarded to Mr. Urvan on October 17, 2022 as compensation for his service on the Board, there were no transactions
by the Reporting Persons in the Issuer&rsquo;s Common Stock during the past 60 days.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each Reporting Person, as a member of a &ldquo;group&rdquo;
with the other Reporting Person for the purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended, may be deemed
the beneficial owner of the Shares directly owned by the other Reporting Persons. Each Reporting Person disclaims beneficial ownership
of such Shares except to the extent of his, her or its pecuniary interest therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">(d) No other person is known to have the right
to receive, or the power to direct the receipt of, dividends from, or the proceeds from the sale of, the securities of the Issuer owned
by the Reporting Persons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-weight: normal">(e) Not applicable.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Item 6 Contracts, Agreements, Understandings
or Relationships With Respect to Securities of the Issuer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-weight: normal">Item 6 is
hereby amended to add the following: </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-weight: normal">On November
3, 2022, the Reporting Persons and the Issuer entered into the Settlement Agreement as defined and described in Item 4 above and attached
as Exhibit 99.1 hereto. In connection with the Settlement Agreement, Ms. Lokey has ceased to be a party to the Joint Filing Agreement,
as previously defined and described in Item 6. </FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Item 7 Material to be Filed as Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-weight: normal">Item 7 is
hereby amended to add the following exhibit:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse; margin-left: 0">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 19%; padding-right: 5.4pt; padding-left: 0">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid"><B>Exhibit Number</B></P></TD>
    <TD STYLE="width: 81%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid"><B>Description</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 0">99.1</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Settlement Agreement, dated November 3, 2022. </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">CUSIP No. 00175J107</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">After reasonable inquiry
and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif">Date: November 7, 2022</TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">/s/ Steven F. Urvan</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Steven F. Urvan</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="width: 50%; padding-right: 5.75pt; padding-left: 5.75pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; border-bottom: Black 0.5pt solid">/s/ Susan T. Lokey</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.75pt; padding-left: 5.75pt">Susan T. Lokey</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<p style="text-indent: 0pt"></P>

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<P STYLE="text-indent: 0pt">&nbsp;</p>

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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ex991to13da313478002_110722.htm
<DESCRIPTION>SETTLEMENT AGREEMENT, DATED NOVEMBER 3, 2022
<TEXT>
<HTML>
<HEAD>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">Exhibit 99.1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>EXECUTION VERSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center">SETTLEMENT AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">This SETTLEMENT AGREEMENT
(this &ldquo;<U>Agreement</U>&rdquo;) is made and entered into as of November 3, 2022, by and among AMMO, Inc., a Delaware corporation
(the &ldquo;<U>Company</U>&rdquo;) and Steven F. Urvan and Susan T. Lokey (collectively with each of their respective Affiliates and Associates,
the &ldquo;<U>Urvan Group</U>&rdquo;). The Company and each of the members of the Urvan Group are each herein referred to as a &ldquo;party&rdquo;
and collectively, the &ldquo;parties.&rdquo; Capitalized terms used herein shall have the meanings set forth in <U>Section 16</U> of this
Agreement.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>1.</B></TD><TD STYLE="text-align: justify"><B><U>Board Composition and Related Matters</U></B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: windowtext">Concurrently
with and effective upon the execution of this Agreement, the Urvan Group shall irrevocably withdraw (i) the notice of stockholder nomination,
submitted to the Company on August 25, 2022 (the &ldquo;<U>Notice</U>&rdquo;) and (ii) the demand to inspect books and records, pursuant
to Section 220 of the General Corporation Law of the State of Delaware (the &ldquo;<U>DGCL</U>&rdquo;), submitted to the Company on August
31, 2022. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: windowtext">Effective
immediately upon the execution of this Agreement, the Board of Directors (the &ldquo;<U>Board</U>&rdquo;) of the Company shall increase
the size of the Board to nine (9) directors and appoint Wayne Walker and Christos Tsentas (the &ldquo;<U>New Directors</U>&rdquo; and,
together with Steven Urvan, the &ldquo;<U>Urvan Group Directors</U>&rdquo;) to the Board.&nbsp;&nbsp;Until the Termination Date (as defined
below), the Board shall not increase the size of the Board above nine (9) directors unless such increase has been approved by at least
seven (7) directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: windowtext">The
Company shall convene the 2022 annual meeting of stockholders (the &ldquo;<U>2022 Annual Meeting</U>&rdquo;) no later than December 15,
2022. The Company shall include the Urvan Group Directors in its director slate for the 2022 Annual Meeting and for any subsequent annual
meeting of stockholders of the Company occurring prior to the Termination Date, and recommend the election of the Urvan Group Directors
to the stockholders of the Company and solicit proxies for the election of the Urvan Group Directors at the 2022 Annual Meeting and for
any subsequent annual meeting of stockholders of the Company occurring prior to the Termination Date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: windowtext">The
Board shall immediately form, and publicly announce the formation of, a new committee of the Board, consisting of four (4) directors,
which shall be charged with planning the succession for the Chief Executive Officer of the Company (&ldquo;<U>CEO</U>&rdquo;) with the
assistance of a nationally recognized search firm (such committee, the &ldquo;<U>CEO Succession Committee</U>&rdquo;). Concurrently with
the New Directors&rsquo; appointment to the Board, the Board shall appoint one of the New Directors (to be chosen by the Urvan Group)
and Mr. Urvan to the CEO Succession Committee along with two directors who are not Urvan Group Directors or the CEO. The chair of the
CEO Succession Committee shall be a director who is not an Urvan Group Director.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: windowtext">Upon
the CEO Succession Committee&rsquo;s selection of a new CEO candidate, and subject to the Board&rsquo;s fiduciary duties under applicable
law, (i) the Board shall promptly appoint such individual as the new CEO and (ii) one incumbent director who is not an Urvan Group Director
shall resign from the Board to create a vacancy for the new CEO&rsquo;s immediate appointment to the Board as a director upon his appointment
as the new CEO.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT STYLE="color: windowtext">Until the Termination Date, and subject to Nasdaq Stock Exchange (the &ldquo;<U>Nasdaq</U>&rdquo;) rules
and applicable laws, the Board and all applicable committees of the Board shall take all actions necessary to promptly appoint each New
Director to at least one (1) standing committee of the Board. Without limiting the foregoing, the Board shall, in accordance with its
customary governance processes, give each of the Urvan Group Directors the same due consideration for membership to any committee of the
Board as any other independent director with similar relevant expertise and qualifications. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: windowtext">The
Urvan Group agrees that the Board or any committee thereof, in the exercise of its fiduciary duties, may recuse Mr. Urvan from any portion
of a Board or committee meeting, and restrict access to information of the Company, to the extent relating to (i) the exercise of any
of the Company&rsquo;s rights or enforcement of any of the obligations under this Agreement, (ii) any action taken in respect of or in
response to actions taken or proposed by the Urvan Group or its Affiliates, in each case, with respect to the Company or its Affiliates
(including any threat to take any of the actions prohibited in Sections 4(a) through 4(l)), or (iii) any proposed transaction between
the Company or any of its Affiliates and the Urvan Group or any of its Affiliates. For the avoidance of doubt, the Urvan Group acknowledges
and agrees that: (i) consistent with their fiduciary duties as a director of the Company, each of the Urvan Group Directors is obligated
to consider in good faith, to the same extent as any other director of the Company, recusal from any Board or committee meeting in the
event there is any other actual or potential conflict of interest between such Urvan Group Director, on the one hand, and the Company,
on the other hand; and (ii) the Board may restrict such Urvan Group Director&rsquo;s access to information of the Company to the same
extent it would for any other director of the Company, in accordance with applicable law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: windowtext">The
Urvan Group agrees that there shall be no contracts, plans or arrangements, written or otherwise, in effect during the term of this Agreement,
between the Urvan Group and the New Directors providing for any compensation, reimbursement of expenses or indemnification of the New
Directors in connection with the New Directors&rsquo; service on the Board.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Urvan Group acknowledges and agrees that Mr. Urvan shall immediately tender his resignation from the Board (it being understood that
the Board shall have the right to decline to accept such resignation) if Mr. Urvan&rsquo;s and his Affiliates&rsquo; aggregate Net Long
Position falls below the lesser of 10% of the outstanding shares of the Company&rsquo;s common stock, par value $0.001 per share (the
 &ldquo;<U>Common Stock</U>&rdquo;) and 11,729,976 shares of Common Stock (subject to adjustment for stock splits, reclassifications,
combinations, and recapitalizations) (the &ldquo;<U>Ownership Minimum Requirement</U>&rdquo;). Concurrently with the execution and delivery
of this Agreement, Mr. Urvan shall execute and deliver an irrevocable resignation letter in the form attached hereto as <U>Exhibit A</U>.
<FONT STYLE="color: windowtext">Notwithstanding any other agreements between the Company and Mr. Urvan previously entered into, following
the effectiveness of resignation of Mr. Urvan pursuant to this <U>Section 1(i)</U>, the Company would have no obligation thereafter to
nominate Mr. Urvan for election to the Board at any meeting of stockholders.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Until
the Termination Date and as long as Mr. Urvan&rsquo;s Net Long Position remains at or above the Ownership Minimum Requirement, in the
event any Urvan Group Director <FONT STYLE="color: windowtext">ceases to be a director or </FONT>is no longer able to serve as a director
of the Company for any reason, Mr. Urvan shall be entitled to designate a candidate for replacement for such Urvan Group Director (such
replacement, a &ldquo;<U>Replacement Director</U>&rdquo;), subject to the prompt approval of the Board (which approval shall not be unreasonably
withheld; <I>provided</I>, <I>however</I>, that if the Board does not approve such Replacement Director to the Board pursuant to this
<U>Section&nbsp;1(j)</U>, the parties shall continue to follow the procedures of this <U>Section&nbsp;1(j)</U> until a Replacement Director
is appointed to the Board, <I>provided, further,</I> that there shall be no more than one New Director who is an Affiliate of the Urvan
Group). Upon a Replacement Director&rsquo;s prompt appointment to the Board, the Board and all applicable committees of the Board shall
take all necessary actions to promptly appoint such Replacement Director to any applicable committee of the Board of which the replaced
director was a member immediately prior to such director&rsquo;s resignation or removal or, if the Board or the applicable committee of
the Board determines that the Replacement Director does not satisfy the requirements of Nasdaq and applicable law with respect to service
on the applicable committee (which determination shall be made reasonably and in good faith), to an alternative committee of the Board.
<FONT STYLE="font-family: TimesNewRomanPSMT">Until such time as any Replacement Director is appointed to any applicable committee, the
other New Director shall be permitted to serve as an interim member of such applicable committee, unless such New Director is already
serving as a member of such committee or the Board or the applicable committee of the Board determines that such New Director does not
satisfy the requirements of the Nasdaq and applicable law with respect to service on the applicable committee (which determination shall
be made reasonably and in good faith). </FONT>Any Replacement Director shall qualify as an &ldquo;independent director&rdquo; under applicable
rules of the SEC, the rules of any stock exchange on which the Company is traded and applicable governance policies of the Company. It
is understood that a Replacement Director appointed to the Board as a replacement for an <FONT STYLE="font-family: TimesNewRomanPSMT">Urvan
Group</FONT> Director shall be considered an <FONT STYLE="font-family: TimesNewRomanPSMT">Urvan Group</FONT> Director, for purposes of
this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Urvan Group hereby acknowledges that prior to the execution of the Agreement, and as a condition of the New Directors&rsquo; appointment
to the Board, each of the New Directors has (i) provided the Company with (A) a completed director questionnaire in the form provided
by the Company and as completed by the current directors, (B) an executed consent to be named as a nominee in the Company&rsquo;s proxy
statement for the 2022 Annual Meeting, (C) an agreement, which has also been executed by all the current directors serving on the Board
prior to the execution of this Agreement, to abide by the terms of the Certificate of Incorporation, the Bylaws, committee charters, corporate
governance guidelines and similar governance documents applicable to the current directors (collectively, the &ldquo;<U>Governance Documents</U>&rdquo;),
and (D) such other information required by the Governance Documents or as has been reasonably requested by the Company that is required
of all other non-management directors of the Company in connection with assessing eligibility, independence and other criteria applicable
to directors or satisfying compliance and legal obligations; and (ii) taken all necessary action to not be &ldquo;overboarded&rdquo; under
the applicable policies of ISS and Glass Lewis as a result of his or her election to the Board (&ldquo;<U>Overboarded</U>&rdquo;), provided
that each of the current directors serving on the Board prior to the execution of this Agreement has likewise taken such necessary actions
to not be Overboarded.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Other
Matters</U></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Spin-Off</I>.
The Company shall suspend the previously announced separation of the Company into Action Outdoor Sports, Inc. and Outdoor Online, Inc.
pending the further evaluation of strategic options by the Board. The announcement of such suspension shall be disclosed in the Press
Release (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Other
Business Relationships</I>. Other than with respect to that certain Services Agreement between S&amp;T Logistics, LLC and Bitrail, LLC,
dated as of May 3, 2019 (the &ldquo;<U>Bitrail Contract</U>&rdquo;), the Urvan Group and the Company each hereby covenant to use their
reasonable best efforts to work together to identify and terminate any remaining related party contracts, agreements, arrangements, or
shared services between the Company and its subsidiaries, including but not limited to Speedlight Group I, LLC d/b/a GunBroker.com, on
the one hand, and any entities under the direct or indirect ownership and/or control of the Urvan Group or its Affiliates, on the other
hand. For the avoidance of doubt, the Company reserves all rights to terminate the Bitrail Contract in accordance with the terms of such
contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Employee
Matters</I>. Effective upon the execution of this Agreement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company shall cause each of Chris Larson&rsquo;s and John Flynn&rsquo;s existing employment and/or consulting agreements to be terminated
 &ldquo;without cause.&rdquo; Notwithstanding the foregoing, (A) Mr. Larson shall be permitted to continue to serve as a consultant to
the Company for a period of up to six months following the execution of this Agreement, to the extent his continued services are reasonably
required or advisable for the completion of any ongoing projects involving the Company and (B) Mr. Flynn shall be permitted to continue
to serve as a consultant to the Company with his scope of responsibilities from time to time subject to the approval of the Board; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of Mr. Urvan and Ms. Lokey shall execute and deliver an irrevocable letter of resignation from their respective positions of employment
with the Company in the form attached hereto as <U>Exhibit B</U>, to be effective upon the later of (A) the conclusion of the 2022 Annual
Meeting and (B) December 31, 2022. The Company agrees to disclose in the Press Release the end of the investigation into Ms. Lokey and
Mr. Urvan previously announced September 6, 2022.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Registration
of Shares</I>. The Company shall take all actions reasonably necessary to promptly register all remaining unregistered shares of Common
Stock held by the Urvan Group, to the extent permissible under applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><B>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Voting
Commitment</U></B>. Until the Termination Date, the Urvan Group shall, or shall cause its Representatives to, appear in person or by proxy
at any Stockholder Meeting and to vote all shares of Common Stock beneficially owned by it and over which it has direct or indirect voting
power (and shall, upon receiving at least 10 calendar days&rsquo; advance notice of the record date, call back from loan any such shares
in time prior to the applicable record date to ensure such shares can be voted at such Stockholder Meeting) in accordance with the Board&rsquo;s
recommendations, as such recommendations of the Board are set forth in the applicable definitive proxy statement filed in respect thereof
with respect to (a) the election, removal and/or replacement of directors (a &ldquo;<U>Director Proposal</U>&rdquo;) and (b) any other
proposal submitted to stockholders; <I>provided</I>, <I>however</I>, that in the event that Institutional Shareholder Services Inc. (&ldquo;<U>ISS</U>&rdquo;)
or Glass Lewis &amp; Co., LLC (&ldquo;<U>Glass Lewis</U>&rdquo;) recommends otherwise with respect to any proposals (other than a Director
Proposal), the Urvan Group shall be permitted to vote in accordance with the ISS or Glass Lewis recommendation; <I>provided</I>, <I>further</I>
that the Urvan Group shall be permitted to vote in its sole discretion with respect to any Extraordinary Transaction. Upon the Company&rsquo;s
written request, the Urvan Group shall provide the Company with written confirmation and evidence of its compliance with this <U>Section
3</U> no later than two (2) Business Days prior to the applicable Stockholder Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Standstill</U></B>.
Prior to the Termination Date, except as otherwise provided in this Agreement (including <U>Section 11(a)</U>), without the prior written
consent of the Board, the Urvan Group shall not, and shall cause its Affiliates, not to, directly or indirectly, in whole or in part (in
each case, except as expressly permitted by this Agreement):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)
acquire, offer or seek to acquire, agree to acquire or acquire rights to acquire (except by way of (x) any director awards or grants or
(y) stock dividends or other distributions or offerings made available to holders of voting securities of the Company generally on a pro
rata basis), directly or indirectly, whether by purchase, tender or exchange offer, through the acquisition of control of another person,
by joining a group, through swap or hedging transactions or otherwise, any voting securities of the Company (other than through a broad-based
market basket or index) or any voting rights decoupled from the underlying voting securities which would result in the ownership or control
of, or other beneficial ownership interest in, 18.5% or more of the then-outstanding shares of Common Stock in the aggregate (subject
to adjustment for stock splits, reclassifications, combinations, and recapitalizations) (the &ldquo;<U>Ownership Cap</U>&rdquo;); <I>provided</I>,
<I>however</I>, that the Board may increase the Ownership Cap by an affirmative vote of a majority of the Board; or (ii) sell its shares
of Common Stock, other than in open market sale transactions where the identity of the purchaser is not known and in underwritten widely
dispersed public offerings, to any Third Party that, to the Urvan Group&rsquo;s knowledge (after due inquiry in connection with a private,
non-open market transaction, it being understood that such knowledge shall be deemed to exist with respect to any publicly available information,
including information in documents filed with the SEC), would result in such Third Party, together with its Affiliates and Associates,
owning, controlling or otherwise having any beneficial or other ownership interest in the aggregate of more than 4.9% of the shares of
Common Stock outstanding at such time, or would increase the beneficial ownership interest of any Third Party who, together with its Affiliates
and Associates, has a beneficial or other ownership interest in the aggregate of more than 4.9% of the shares of Common Stock outstanding
at such time;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i)
other than pursuant to <U>Section 1</U> of this Agreement, nominate, recommend for nomination or give notice of an intent to nominate
or recommend for nomination a person for election at any Stockholder Meeting at which the Company&rsquo;s directors are to be elected;
(ii) knowingly initiate, encourage or participate in any solicitation of proxies in respect of any election contest or removal contest
with respect to the Company&rsquo;s directors; (iii) submit, initiate, make or be a proponent of any stockholder proposal for consideration
at, or bring any other business before, any Stockholder Meeting; (iv) knowingly initiate, encourage or participate in any solicitation
of proxies in respect of any stockholder proposal for consideration at, or other business brought before, any Stockholder Meeting; or
(v) knowingly initiate, encourage or participate in any &ldquo;withhold&rdquo; or similar campaign with respect to any Stockholder Meeting;
in each case other than in a manner consistent with the Board&rsquo;s recommendation in connection with such matter; <I>provided</I>,
<I>however</I>, that nothing in this Agreement shall prevent the Urvan Group or its Affiliates from taking actions in furtherance of identifying
director candidates in connection with the 2023 Annual Meeting (as defined below) or the 2024 Annual Meeting (as defined below), as applicable,
so long as such actions do not create a public disclosure obligation for the Urvan Group or the Company and are undertaken on a basis
reasonably expected to be confidential;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;form,
join or in any way participate in any group or agreement of any kind with respect to any voting securities of the Company, including in
connection with any election or removal contest with respect to the Company&rsquo;s directors or any stockholder proposal or other business
brought before any Stockholder Meeting (other than a group that (i) is solely among the members of the Urvan Group or (ii) is an Affiliate
of the Urvan Group and such Affiliate agrees to be bound by the terms and conditions of this Agreement as if it were a party hereto and
such group or agreement would not result in the Urvan Group exceeding the Ownership Cap);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;deposit
any voting securities of the Company in any voting trust or subject any Company voting securities to any arrangement or agreement with
respect to the voting thereof (other than (i) customary brokerage accounts, margin accounts and prime brokerage accounts, or (ii) any
such voting trust, arrangement, or agreement that (A) is solely among the Urvan Group, (B) is with an Affiliate of the Urvan Group and
such Affiliate agrees to be bound by the terms and conditions of this Agreement as if it were a party hereto and such voting trust, arrangement,
or agreement would not result in the Urvan Group exceeding the Ownership Cap; or (C) relates to the Merger Transaction Agreements);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;seek
publicly, alone or in concert with others, to amend any provision of the Certificate of Incorporation or the Bylaws;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: windowtext">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;demand
an inspection of the Company&rsquo;s books and records </FONT><FONT STYLE="background-color: white">pursuant to Section&nbsp;220(b) of
the DGCL</FONT><FONT STYLE="color: windowtext">;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;make
any public proposal with respect to or make any public statement or otherwise knowingly seek to encourage, advise or assist any person
in so encouraging or advising with respect to: (A) any change in the number or term of directors serving on the Board or the filling of
any vacancies on the Board, (B) any change in the capitalization or dividend policy of the Company, (C) any other change in the Company&rsquo;s
management, governance, corporate structure, staffing, affairs or policies, (D) any Extraordinary Transaction, (E) causing a class of
securities of the Company to be delisted from, or to cease to be authorized to be quoted on, any securities exchange or (F) causing a
class of equity securities of the Company to become eligible for termination of registration pursuant to Section 12(g)(4) of the Exchange
Act (in each case other than pursuant to <U>Section 1</U>);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;knowingly
initiate, make or in any way participate, directly or indirectly, in any Extraordinary Transaction or make, directly or indirectly, any
proposal, either alone or in concert with others, to the Company or the Board that would reasonably be expected to require a public announcement
or disclosure regarding any such matter;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;effect
or seek to effect, offer or propose to effect, cause or participate in, or in any way knowingly assist or facilitate any other person
to effect or seek, offer or propose to effect or participate in any (i) material acquisition of any assets or businesses of the Company
or any of its subsidiaries; (ii) tender offer or exchange offer, merger, acquisition, share exchange or other business combination involving
any of the voting securities or any of the material assets or businesses of the Company or any of its subsidiaries; or (iii) recapitalization,
restructuring, liquidation, dissolution or other material transaction with respect to the Company or any of its subsidiaries or any material
portion of its or their businesses;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(j)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;enter
into any negotiations, agreements or understandings with any Third Party with respect to the foregoing, or knowingly advise, assist, encourage
or seek to persuade any Third Party to take any action with respect to any of the foregoing, or otherwise take or cause any action inconsistent
with any of the foregoing;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(k)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;publicly
make or in any way advance publicly any request or proposal that the Company or the Board amend, modify or waive any provision of this
Agreement; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"><FONT STYLE="color: windowtext">(l)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>take
any action challenging the validity or enforceability of this <U>Section 4</U> <FONT STYLE="color: windowtext">unless the Company is challenging
the validity or enforceability of this <U>Section 4</U>;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><I>provided</I>, <I>however</I>,
that the restrictions in this <U>Section 4</U> shall not prevent the Urvan Group or its Affiliates from (i) making any factual statement
as required by applicable legal process, subpoena or legal requirement from any governmental authority with competent jurisdiction over
the party from whom information is sought (so long as such request did not arise as a result of action by the Urvan Group), (ii) making
any private communication, proposal, suggestion or recommendation to the Company, regarding any matter, that would not be reasonably expected
to trigger public disclosure obligations for any person, (iii) making any private communication with stockholders of the Company and others
in a manner that does not otherwise violate this <U>Section 4</U> or <U>Section 5</U>, (iv) tendering shares, receiving payment for shares,
voting shares or otherwise participating in any transaction on the same basis as the other stockholders of the Company or from participating
in any transaction that has been approved by the Board, subject to the other terms of this Agreement, (v) exercising any registration
or related rights pursuant to the Merger Transaction Agreements, (vi) responding to inbound inquiries it receives from a Third Party by
directing such Third Party to contact a representative of the Company or refer to the Company&rsquo;s publicly available disclosures,
or (vii) with the Board&rsquo;s prior written consent, privately introducing Third Parties to the Board or the Company&rsquo;s officers.
For the avoidance of doubt, nothing in this <U>Section 4</U> shall be deemed to limit the exercise in good faith by any of the Urvan Group
Directors (or any Replacement Director, as applicable) of such person&rsquo;s fiduciary duties in such person&rsquo;s capacity as a director
of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="color: windowtext"><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B><U>Mutual
Non-Disparagement</U></B><FONT STYLE="color: windowtext">. Prior to the Termination Date, without the prior written consent of the other
party, neither party shall, nor shall it permit any of its Representatives to make any public or private disparaging statement about the
other party, the other party&rsquo;s current or former directors in their capacity as such, the other party&rsquo;s officers or employees
(including with respect to such persons&rsquo; service at the other party), the other party&rsquo;s subsidiaries, or the business of the
other party&rsquo;s subsidiaries or any of its or its subsidiaries&rsquo; current directors, officers or employees, including the business
and current or former directors, officers and employees of the other party&rsquo;s controlled Affiliates, as applicable. The restrictions
in this <U>Section&nbsp;5</U> shall not (a) apply to (i) any Legal Proceeding, compelled testimony or production of information, including
whether by legal process, subpoena or as part of a response to a request for information from, or disclosure to, any governmental, judicial,
arbitral, or regulatory authority with jurisdiction over the party from whom information is sought, (ii) any disclosure that such party
reasonably believes, after consultation with outside counsel, to be legally required by applicable law, rules or regulations, or (iii)
any private communications between the Urvan Group and the Company or any private communications between the Urvan Group and its members;
or (b) prohibit any party from reporting what it reasonably believes, after consultation with outside counsel, to be violations of federal
law or regulation to any governmental authority pursuant to Section 21F of the Exchange Act or Rule 21F promulgated thereunder.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><B>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Public
Statements; SEC Filings</U></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
later than one (1) Business Day following the date of this Agreement, the Company shall issue a mutually agreed press release (the &ldquo;<U>Press
Release</U>&rdquo;) announcing this Agreement, substantially in the form attached hereto as <U>Exhibit C</U>. Prior to the issuance of
the Press Release, neither the Company nor the Urvan Group shall issue any press release or public announcement regarding this Agreement
or take any action that would require public disclosure thereof without the prior written consent of the other party. Neither the Company
nor the Urvan Group shall make any public statement or speak to any member of the media regarding the Settlement Agreement in any manner
that is inconsistent with the terms of the Settlement Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
later than two (2) Business Days following the date of this Agreement, the Company shall file with the SEC a Current Report on Form 8-K
reporting its entry into this Agreement, disclosing applicable items to conform to its obligations hereunder and appending this Agreement
as an exhibit thereto (the &ldquo;<U>Form 8-K</U>&rdquo;). The Form 8-K shall be consistent with the terms of this Agreement and the Press
Release. The Company shall provide the Urvan Group with a reasonable opportunity to review and comment on the Form 8-K prior to the filing
with the SEC and consider in good faith any of the Urvan Group&rsquo;s comments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
later than two (2) Business Days following the date of this Agreement, the Urvan Group shall file with the SEC an amendment to its Schedule
13D in compliance with Section 13 of the Exchange Act reporting its entry into this Agreement, disclosing applicable items to conform
to its obligations hereunder and including this Agreement as an exhibit thereto (the &ldquo;<U>Schedule&nbsp;13D Amendment</U>&rdquo;).
The Schedule 13D Amendment shall be consistent with the terms of this Agreement and the Press Release. The Urvan Group shall provide the
Company with a reasonable opportunity to review the Schedule 13D Amendment prior to it being filed with the SEC and consider in good faith
any of the Company&rsquo;s comments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><B>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Confidentiality</U></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that Mr. Urvan is no longer a director on the Board, and any of the Urvan Group Directors are still serving as directors on
the Board, the Urvan Group acknowledges that such Urvan Group Directors shall not be permitted to share the Company&rsquo;s confidential
information with Mr. Urvan, the Urvan Group or its Representatives, without the Board&rsquo;s prior written consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
the avoidance of doubt, the parties acknowledge and agree that the obligations of the Urvan Group and the Urvan Group Directors under
this <U>Section&nbsp;7</U> shall be in addition to, and not in lieu of, the Urvan Group Directors&rsquo; confidentiality obligations under
Delaware law and the Governance Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><B>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compliance
with Securities Laws; Company Policies</U></B>. The Urvan Group acknowledges that it understands its obligations under the U.S. securities
laws. Subject to compliance with such laws, the Urvan Group and its Representatives shall in any event be free to trade or engage in such
transactions during periods when the members of the Board are permitted to do so, and the Company shall notify the Urvan Group reasonably
in advance when such &ldquo;open window&rdquo; trading periods begin and end. The Company acknowledges that none of the provisions herein
shall in any way limit the activities of the Urvan Group or its Representatives in their respective ordinary course of businesses if such
activities do not violate applicable securities laws or the obligations specifically agreed to under this Agreement. In addition, nothing
contained in this Agreement shall restrict the ability of the Urvan Group or its Representatives from purchasing, selling or otherwise
trading securities of the Company pursuant to any Rule 10b5-1 trading plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><B>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Affiliates
and Associates</U></B>. Each party shall instruct its controlled Affiliates and Associates to comply with the terms of this Agreement
and shall be responsible for any breach of this Agreement by any such controlled Affiliate or Associate. A breach of this Agreement by
a controlled Affiliate or Associate of a party, if such controlled Affiliate or Associate is not a party to this Agreement, shall be deemed
to occur if such controlled Affiliate or Associate engages in conduct that would constitute a breach of this Agreement if such controlled
Affiliate or Associate was a party to the same extent as a party to this Agreement.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.4pt"></TD><TD STYLE="width: 40.1pt"><B>10.</B></TD><TD STYLE="text-align: justify"><B><U>Representations and Warranties</U></B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
member of the Urvan Group represents and warrants that he or she has full power and authority to execute, deliver and carry out the terms
and provisions of this Agreement and to consummate the transactions contemplated hereby, and that this Agreement has been duly and validly
executed and delivered by him or her, constitutes a valid and binding obligation and agreement of him or her and is enforceable against
him or her in accordance with its terms. Each member of the Urvan Group represents that the execution of this Agreement, the consummation
of any of the transactions contemplated hereby, and the fulfillment of the terms hereof, in each case in accordance with the terms hereof,
will not violate or conflict with (i) any law, rule, regulation, order, judgment or decree applicable to it or (ii) result in any breach
or violation of or constitute a default (or an event which with notice or lapse of time or both could constitute such a breach, violation
or default) under or pursuant to, or result in the loss of a material benefit under, or give any right of termination, amendment, acceleration
or cancellation of, any organizational document, agreement, contract, commitment, understanding or arrangement to which it is a party
or by which it is bound. Mr. Urvan represents and warrants that, as of the date of this Agreement, he beneficially owns an aggregate of
20,050,000 shares of Common Stock and has voting authority over such shares. Ms. Lokey represents and warrants that, as of the date of
this Agreement, she beneficially owns an aggregate of 40,000 shares of Common Stock and has voting authority over such shares. Each of
Mr. Urvan and Ms. Lokey represents and warrants that they own no Synthetic Equity Interests or any Short Interests in the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company hereby represents and warrants that it has the power and authority to execute, deliver and carry out the terms and provisions
of this Agreement and to consummate the transactions contemplated hereby, and that this Agreement has been duly and validly authorized,
executed and delivered by the Company, constitutes a valid and binding obligation and agreement of the Company and is enforceable against
the Company in accordance with its terms. The Company represents that the execution of this Agreement, the consummation of any of the
transactions contemplated hereby, and the fulfillment of the terms hereof, in each case in accordance with the terms hereof, will not
conflict with, or result in a breach or violation of the organizational documents of the Company as currently in effect, the execution,
delivery and performance of this Agreement by the Company does not and will not violate or conflict with (i) any law, rule, regulation,
order, judgment or decree applicable to the Company or (ii) result in any breach or violation of or constitute a default (or an event
which with notice or lapse of time or both could constitute such a breach, violation or default) under or pursuant to, or result in the
loss of a material benefit under, or give any right of termination, amendment, acceleration or cancellation of, any organizational document,
agreement, contract, commitment, understanding or arrangement to which the Company is a party or by which it is bound.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><B>11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination</U></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unless
otherwise mutually agreed to in writing by each party, this Agreement shall remain in effect until the date that is the earlier of (i)
the date that is thirty (30) calendar days prior to the earlier of (A) the deadline set forth in the notice requirements of Federal &ldquo;Universal
Proxy Rules&rdquo; promulgated under Rule 14a-19(a) and Rule 14a-19(b) under the Exchange Act (the &ldquo;<U>UPR Deadline</U>&rdquo;)
relating to the Company&rsquo;s 2023 annual meeting of stockholders (the &ldquo;<U>2023 Annual Meeting</U>&rdquo;) and (B) any deadline
that may be set forth in the Certificate of Incorporation or the Bylaws following the execution of this Agreement relating to the nomination
of director candidates for election to the Board at the 2023 Annual Meeting, and (ii) ninety (90) calendar days prior to the first anniversary
of the 2022 Annual Meeting (the effective date of such termination of this Agreement, the &ldquo;<U>Termination Date</U>&rdquo;); <I>provided,
however</I>, that if the Company notifies Mr. Urvan in writing at least fifteen (15) calendar days prior to such Termination Date that
the Board irrevocably offers to re-nominate the Urvan Group Directors for election at the 2023 Annual Meeting and Mr. Urvan accepts such
offer within fifteen (15) calendar days of receipt of such notice, the Termination Date shall be automatically extended until the date
that is the earlier of (i) the date that is thirty (30) calendar days prior to the earlier of (A) the UPR Deadline relating to the Company&rsquo;s
2024 annual meeting of stockholders (the &ldquo;<U>2024 Annual Meeting</U>&rdquo;) and (B) any deadline that may be set forth in the Certificate
of Incorporation or the Bylaws following execution of this Agreement relating to the nomination of director candidates for election to
the Board at the 2024 Annual Meeting, and (ii) ninety (90) calendar days prior to the first anniversary of the 2023 Annual Meeting. Notwithstanding
the foregoing, the Termination Date shall not occur prior to the date that is twenty (20) calendar days following the date of Mr. Urvan&rsquo;s
departure from the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
anything to the contrary in this Agreement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
obligations of the Urvan Group pursuant to <U>Sections&nbsp;1</U>, <U>3</U>, <U>4</U> and <U>5</U> shall terminate in the event that the
Company materially breaches its obligations to the Urvan Group pursuant to <U>Sections&nbsp;1</U>, <U>2</U>, <U>5</U> or <U>11</U> or
the representations and warranties in <U>Sections&nbsp; 10(b)</U> of this Agreement and such breach (if capable of being cured) has not
been cured within ten (10) calendar days following written notice of such breach from the Urvan Group, or, if impossible to cure within
ten (10) calendar days, the Company has not taken substantive action to correct within ten (10) calendar days following written notice
of such breach from the Urvan Group; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
obligations of the Company to the Urvan Group pursuant to <U>Sections&nbsp;1</U> and <U>5</U> shall terminate in the event that the Urvan
Group materially breaches its obligations in <U>Sections&nbsp;1</U>, <U>3</U>, <U>4</U>, <U>5</U> or <U>7</U> or the representations and
warranties in <U>Section&nbsp; 10(a)</U> and such breach (if capable of being cured) has not been cured within ten (10) calendar days
following written notice of such breach, or, if impossible to cure within ten (10) calendar days, the Urvan Group has not taken substantive
action to correct within ten (10) calendar days following written notice of such breach from the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
this Agreement is terminated in accordance with this <U>Section&nbsp;11</U>, this Agreement shall forthwith become null and void, but
no termination shall relieve either party from liability for any breach of this Agreement prior to such termination. Notwithstanding the
foregoing, this <U>Section&nbsp;11</U> and <U>Sections 12</U> through <U>17</U> shall survive the termination of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><B>12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Expenses</U></B>.
The Company shall reimburse the Urvan Group for documented out-of-pocket costs, fees and expenses (including attorneys&rsquo; fees and
other legal expenses and expenses related to the engagement of other advisors and consultants) incurred by the Urvan Group in connection
with its engagement with the Company, the negotiation and execution of this Agreement and related matters, in an amount not to exceed
$500,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><B>13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U></B>.
All notices, demands and other communications to be given or delivered under or by reason of the provisions of this Agreement shall be
in writing and shall be deemed to have been given (a) when delivered by hand, with written confirmation of receipt; (b) upon sending if
sent by electronic mail to the electronic mail addresses below, with confirmation of receipt from the receiving party by electronic mail;
(c) one (1) Business Day after being sent by a nationally recognized overnight carrier to the addresses set forth below; or (d) when actually
delivered if sent by any other method that results in delivery, with written confirmation of receipt:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If to the Company:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left">AMMO, Inc.<BR>
    7681 E. Gray Road<BR>
    Scottsdale, AZ 85260<BR>
    Attn: Tod Wagenhals, EVP and Secretary<BR>
    Email: tod@ammo-inc.com</P></TD>
    <TD STYLE="width: 50%">
    <P STYLE="font: 10pt/13.7pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">with mandatory copies (which shall not
    constitute notice) to:</P>
    <P STYLE="font: 10pt/13.7pt Times New Roman, Times, Serif; margin: 0; text-align: left">Sidley Austin LLP<BR>
    787 Seventh Avenue<BR>
    New York, NY 10019</P>
    <P STYLE="font: 10pt/13.7pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: -0.5in">Attn:&#9;Kai
    H.E. Liekefett<BR>
    Leonard Wood</P>
    <P STYLE="font: 10pt/13.7pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: left; text-indent: -0.5in">Email: kliekefett@sidley.com<BR>
    lwood@sidley.com<BR>
    </P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 13.3pt 0 0; text-align: justify">If to the Urvan Group:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 13.3pt 0 0; text-align: left">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0 0; text-align: left">Steven F. Urvan<BR>
    7491 N Federal Highway<BR>
    STE C5 PMB 379<BR>
    Boca Raton, FL 33487<BR>
    Email: steve@50x50.com</P></TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">with mandatory copies (which shall not constitute
    notice) to:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Olshan Frome Wolosky LLP<BR>
    1325 Avenue of the Americas<BR>
    New York, New York 10019</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: -0.5in">Attn:&#9;Steve Wolosky<BR>
    Meagan M. Reda</P>
    <P STYLE="font: 10pt/13.7pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: left; text-indent: -0.5in">Email:&#9;swolosky@olshanlaw.com<BR>
    mreda@olshanlaw.com<BR>
    </P></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><B>14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law; Jurisdiction; Jury Waiver</U></B>. This Agreement, and any disputes arising out of or related to this Agreement (whether for breach
of contract, tortious conduct or otherwise), shall be governed by, and construed in accordance with, the laws of the State of Delaware,
without giving effect to its conflict of laws principles. The parties agree that exclusive jurisdiction and venue for any Legal Proceeding
arising out of or related to this Agreement shall exclusively lie in the Court of Chancery of the State of Delaware or, if such Court
does not have subject matter jurisdiction, the Superior Court of the State of Delaware or, if jurisdiction is vested exclusively in the
Federal courts of the United States, the Federal courts of the United States sitting in the State of Delaware, and any appellate court
from any such state or Federal court. Each party waives any objection it may now or hereafter have to the laying of venue of any such
Legal Proceeding, and irrevocably submits to personal jurisdiction in any such court in any such Legal Proceeding and hereby further irrevocably
and unconditionally waives and agrees not to plead or claim in any court that any such Legal Proceeding brought in any such court has
been brought in any inconvenient forum. Each party consents to accept service of process in any such Legal Proceeding by service of a
copy thereof upon either its registered agent in the State of Delaware or the Secretary of State of the State of Delaware, with a copy
delivered to it by certified or registered mail, postage prepaid, return receipt requested, addressed to it at the address set forth in
<U>Section 13</U>. Nothing contained herein shall be deemed to affect the right of any party to serve process in any manner permitted
by law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS
AGREEMENT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in"><B>15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Specific
Performance</U></B>. Each party to this Agreement acknowledges and agrees that the other party would be irreparably injured by an actual
breach of this Agreement by the first-mentioned party or its Representatives and that monetary remedies would be inadequate to protect
either party against any actual or threatened breach or continuation of any breach of this Agreement. Without prejudice to any other rights
and remedies otherwise available to the parties under this Agreement, each party shall be entitled to equitable relief by way of injunction
or otherwise and specific performance of the provisions hereof upon satisfying the requirements to obtain such relief without the necessity
of posting a bond or other security, if the other party or any of its Representatives breach or threaten to breach any provision of this
Agreement. Such remedy shall not be deemed to be the exclusive remedy for a breach of this Agreement, but shall be in addition to all
other remedies available at law or equity to the non-breaching party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in"><FONT STYLE="color: windowtext"><B>16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Certain
Definitions and Interpretations</U></B>. As used in this Agreement: (a) the terms &ldquo;<U>Affiliate</U>&rdquo; and &ldquo;<U>Associate</U>&rdquo;
(and any plurals thereof) have the meanings ascribed to such terms under Rule 12b-2 promulgated by the SEC under the Exchange Act and
shall include all persons or entities that at any time prior to the Termination Date become Affiliates or Associates of any applicable
person or entity referred to in this Agreement; <I>provided</I>, <I>however</I>, that the term &ldquo;Associate&rdquo; shall refer only
to Associates controlled by the Company or the Urvan Group, as applicable; <I>provided, further</I>, that, for purposes of this Agreement,
the Urvan Group and the Company shall not be Affiliates or Associates of one another; (b) the term&nbsp;&ldquo;<U>Annual Meeting</U>&rdquo;
means each annual meeting of stockholders of the Company and any adjournment, postponement, rescheduling or continuation thereof; (c)
the terms &ldquo;<U>beneficial ownership</U>,&rdquo; &ldquo;<U>group</U>,&rdquo; &ldquo;<U>participant</U>,&rdquo; &ldquo;<U>person</U>,&rdquo;
 &ldquo;<U>proxy</U>&rdquo; and &ldquo;<U>solicitation</U>&rdquo; (and any plurals thereof) have the meanings ascribed to such terms under
the Exchange Act and the rules and regulations promulgated thereunder, <I>provided</I> that the meaning of &ldquo;solicitation&rdquo;
shall be without regard to the exclusions set forth in Rules 14a-1(l)(2)(iv) and 14a-2 under the Exchange Act; (d) the term &ldquo;<U>Business
Day</U>&rdquo; means any day that is not a Saturday, Sunday or other day on which commercial banks in the State of New York are authorized
or obligated to be closed by applicable law; (e) the term &ldquo;<U>Bylaws</U>&rdquo; means the Bylaws of the Company, as amended from
time to time; (f) the term &ldquo;<U>Certificate of Incorporation</U>&rdquo; means the Company&rsquo;s Amended and Restated Certificate
of Incorporation of the Company, as amended from time to time; (g) the term &ldquo;<U>Exchange Act</U>&rdquo; means the Securities Exchange
Act of 1934, as amended, and the rules and regulations promulgated thereunder; (h)&nbsp;the term &ldquo;<U>Extraordinary Transaction</U>&rdquo;
means any tender offer, exchange offer, merger, consolidation, acquisition, business combination, sale, recapitalization, restructuring,
or other transaction with a Third Party that, in each case, that results in a change in control of the Company or the sale of substantially
all of its assets; (i) the term &ldquo;<U>Legal Proceeding</U>&rdquo; means </FONT>any actual or threatened claim, charge, action, hearing,
grievance, cause of action, complaint, demand, suit, inquiry, audit, notice of violation, proceeding, litigation, citation, summons, subpoena,
investigation, originating application to a tribunal, or arbitration or other proceeding at law or in equity or order or ruling, of any
nature, in each case whether civil, criminal, administrative, investigative or otherwise, and whether in contract, in tort or otherwise;
(j) <FONT STYLE="color: windowtext">the term &ldquo;<U>Merger Transaction Agreements</U>&rdquo; means (i) the </FONT>Agreement and Plan
of Merger, by and among the Company, SpeedLight Group I, LLC, a Delaware limited liability company and a wholly owned subsidiary of the
Company (&ldquo;Sub&rdquo;), Gemini Direct Investments, LLC, a Nevada limited liability company (&ldquo;Gemini&rdquo;), and Mr. Urvan,
whereby Sub merged with and into Gemini, with Sub surviving the merger as a wholly owned subsidiary of the Company, (ii) the Investor
Rights Agreement, dated April 30, 2021, by and among the Company, Gemini, Sub and Mr. Urvan and (iii) the Pledge and Escrow Agreement,
dated April 30, 2021, by and between the Company and Mr. Urvan; <FONT STYLE="color: windowtext">(k) the term &ldquo;<U>Net Long Position</U>&rdquo;
means such shares of Common Stock beneficially owned, directly or indirectly, that constitute such person&rsquo;s net long position as
defined in Rule 14e-4 under the Exchange Act <I>mutatis mutandis</I>, <I>provided</I> that &ldquo;Net Long Position&rdquo; shall not include
any shares as to which such person does not have the right to vote or direct the vote other than as a result of being in a margin account,
or as to which such person has entered into a derivative or other agreement, arrangement or understanding that hedges or transfers, in
whole or in part, directly or indirectly, any of the economic consequences of ownership of such shares; and the terms &ldquo;person&rdquo;
or &ldquo;persons,&rdquo; for purposes of the meaning of the term &ldquo;Net Long Position,&rdquo; shall mean any individual, corporation
(including not-for-profit), general or limited partnership, limited liability or unlimited liability company, joint venture, estate, trust,
associate, organization or other entity of any kind or nature; (l) the term &ldquo;<U>Representatives</U>&rdquo; means (i) a person&rsquo;s
Affiliates and Associates and (ii) its and their respective directors, officers, employees, partners, members, managers, consultants,
legal or other advisors, agents and other representatives acting in a capacity on behalf of, in concert with or at the direction of such
person or its Affiliates or Associates; (m) the term &ldquo;<U>SEC</U>&rdquo; means the U.S. Securities and Exchange Commission; (n) the
term &ldquo;<U>Short Interests</U>&rdquo; means any agreement, arrangement, understanding or relationship, including any repurchase or
similar so-called &ldquo;stock borrowing&rdquo; agreement or arrangement, engaged in, directly or indirectly, by such person, the purpose
or effect of which is to mitigate loss to, reduce the economic risk (of ownership or otherwise) of shares of any class or series of the
Company&rsquo;s equity securities by, manage the risk of share price changes for, or increase or decrease the voting power of, such person
with respect to the shares of any class or series of the Company&rsquo;s equity securities, or that provides, directly or indirectly,
the opportunity to profit from any decrease in the price or value of the shares of any class or series of the Company&rsquo;s equity securities
(excluding, for the avoidance of doubt, customary margin accounts and the effects thereof); (o)&nbsp;the term &ldquo;<U>Stockholder Meeting</U>&rdquo;
means each annual or special meeting of stockholders of the Company, or any action by written consent of the Company&rsquo;s stockholders
in lieu thereof, and any adjournment, postponement, rescheduling or continuation thereof; (p) the term &ldquo;<U>Synthetic Equity Interests</U>&rdquo;
means any derivative, swap or other transaction or series of transactions engaged in, directly or indirectly, by such person, the purpose
or effect of which is to give such person economic risk similar to ownership of equity securities of any class or series of the Company,
including due to the fact that the value of such derivative, swap or other transactions are determined by reference to the price, value
or volatility of any shares of any class or series of the Company&rsquo;s equity securities, or which derivative, swap or other transactions
provide the opportunity to profit from any increase in the price or value of shares of any class or series of the Company&rsquo;s equity
securities, without regard to whether (i)&nbsp;the derivative, swap or other transactions convey any voting rights in such equity securities
to such person, (ii) the derivative, swap or other transactions are required to be, or are capable of being, settled through delivery
of such equity securities, or (iii) such person may have entered into other transactions that hedge or mitigate the economic effect of
such derivative, swap or other transactions; and (q) the term &ldquo;<U>Third Party</U>&rdquo; refers to any person that is not a party,
a member of the Board, a director or officer of the Company, or legal counsel to either party. In this Agreement, unless a clear contrary
intention appears, (i) the word &ldquo;including&rdquo; (in its various forms) means &ldquo;including, without limitation&rdquo;; (ii)
the words &ldquo;hereunder,&rdquo; &ldquo;hereof,&rdquo; &ldquo;hereto&rdquo; and words of similar import are references to this Agreement
as a whole and not to any particular provision of this Agreement; (iii) the word &ldquo;or&rdquo; is not exclusive; (iv) references to
 &ldquo;Sections&rdquo; in this Agreement are references to Sections of this Agreement unless otherwise indicated; and (v) whenever the
context requires, the masculine gender shall include the feminine and neuter genders.</FONT></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 40.5pt"><B>17.</B></TD><TD STYLE="text-align: justify"><B><U>Miscellaneous</U></B>.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Agreement, including all exhibits hereto, contains the entire agreement between the parties and supersedes all other prior agreements
and understandings, both written and oral, between the parties with respect to the subject matter hereof, except for that certain letter
agreement between the Company and Mr. Urvan dated as of the date hereof. For the avoidance of doubt, except as expressly provided herein,
this Agreement has no effect on the parties&rsquo; respective rights and obligations pursuant to the Merger Transaction Agreements to
the extent any such rights and obligations still exist.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Agreement is solely for the benefit of the parties and is not enforceable by any other persons.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Agreement shall not be assignable by operation of law or otherwise by a party without the consent of the other party. Any purported assignment
without such consent is void <I>ab initio</I>. Subject to the foregoing sentence, this Agreement shall be binding upon, inure to the benefit
of, and be enforceable by and against the permitted successors and assigns of each party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither
the failure nor any delay by a party in exercising any right, power or privilege under this Agreement shall operate as a waiver thereof,
nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any right, power or
privilege hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable,
the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in
no way be affected, impaired or invalidated. It is hereby stipulated and declared to be the intention of the parties that the parties
would have executed the remaining terms, provisions, covenants and restrictions without including any of such which may be hereafter declared
invalid, void or unenforceable. In addition, the parties agree to use their reasonable best efforts to agree upon and substitute a valid
and enforceable term, provision, covenant or restriction for any of such that is held invalid, void or unenforceable by a court of competent
jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
amendment or modification of the terms and conditions set forth herein or any waiver of such terms and conditions must be agreed to in
a writing signed by each party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Agreement may be executed in one or more textually identical counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same agreement. Signatures to this Agreement transmitted by facsimile transmission, by electronic
mail in &ldquo;portable document format&rdquo; (&ldquo;.pdf&rdquo;) form, or by any other electronic means intended to preserve the original
graphic and pictorial appearance of a document, shall have the same effect as physical delivery of the paper document bearing the original
signature.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of the parties acknowledges that it has been represented by counsel of its choice throughout all negotiations that have preceded the execution
of this Agreement, and that it has executed this Agreement with the advice of such counsel. Each party and its counsel cooperated and
participated in the drafting and preparation of this Agreement, and any and all drafts relating thereto exchanged among the parties shall
be deemed the work product of all of the parties and may not be construed against any party by reason of its drafting or preparation.
Accordingly, any rule of law or any legal decision that would require interpretation of any ambiguities in this Agreement against any
party that drafted or prepared it is of no application and is hereby expressly waived by each of the parties, and any controversy over
interpretations of this Agreement shall be decided without regard to events of drafting or preparation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 1in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
headings set forth in this Agreement are for convenience of reference purposes only and shall not affect or be deemed to affect in any
way the meaning or interpretation of this Agreement or any term or provision of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><I>[Signature Page Follows]</I></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 30pt; text-align: justify; text-indent: 0.5in">IN WITNESS WHEREOF, each
of the parties has executed this Agreement, or caused the same to be executed by its duly authorized representative, as of the date first
above written.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>AMMO, INC.</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">By:</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; border-bottom: Black 0.5pt solid">/s/ Fred Wagenhals</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 9%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Name:</TD>
    <TD STYLE="width: 34%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Fred Wagenhals</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Title:</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Chief Executive Officer</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.5in 3.5in"></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt">SIGNATURE PAGE TO SETTLEMENT AGREEMENT</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>STEVEN F. URVAN</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">By:</TD>
    <TD STYLE="width: 43%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; border-bottom: Black 0.5pt solid">/s/ Steven F. Urvan</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><B>SUSAN T. LOKEY</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">By:</TD>
    <TD STYLE="width: 43%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; border-bottom: Black 0.5pt solid">/s/ Susan T. Lokey</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.5in 3.5in"><U></U></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12"><U>Exhibit A</U></P>

<P STYLE="font: 10pt/13.7pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Form of Irrevocable Director Resignation
Letter</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify">November 3, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: left">Board of Directors<BR>
AMMO, Inc.<BR>
7681 E. Gray Road<BR>
Scottsdale, Arizona 85260</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Re: Irrevocable Resignation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify">Ladies and Gentlemen,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">This letter is delivered
pursuant to Section 1(i) of the Settlement Agreement, dated as of November 3, 2022 (the &ldquo;<U>Agreement</U>&rdquo;), by and between
AMMO, Inc. and the Urvan Group. Capitalized terms used herein but not defined shall have the meaning set forth in the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">I hereby resign from my position
as a director of the Company and from any and all committees of the Board on which I serve, subject to the Board&rsquo;s acceptance of
this resignation, effective only upon the date on which the Urvan Group&rsquo;s and its Affiliates&rsquo; aggregate Net Long Position
falls below the Ownership Minimum Requirement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">This resignation is irrevocable
and may not be withdrawn by me at any time.<BR>
 &nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 51%; padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; border-bottom: Black 0.5pt solid">&nbsp;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Steven F. Urvan</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/13.7pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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    <!-- Field: /Page -->



<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><U>Exhibit B</U></P>

<P STYLE="font: 10pt/13.7pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>Form of Irrevocable Employee Resignation
Letter</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">November 3, 2022</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Fred Wagenhals<BR>
AMMO, Inc.<BR>
7681 E. Gray Road<BR>
Scottsdale, Arizona 85260</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 12pt; text-align: center">Re: Irrevocable Resignation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify">Dear Mr. Wagenhals,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">This letter is delivered
pursuant to Section 2(c)(ii) of the Settlement Agreement, dated as of November 3, 2022 (the &ldquo;<U>Agreement</U>&rdquo;), by and between
AMMO, Inc. and the Urvan Group. Capitalized terms used herein but not defined shall have the meaning set forth in the Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0; text-align: justify; text-indent: 0.5in">I hereby resign from my position
as an employee of the Company, effective upon the later of (A) the conclusion of the 2022 Annual Meeting and (B) December 31, 2022. This
resignation is irrevocable and may not be withdrawn by me at any time.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 51%; padding-right: 5.4pt; padding-left: 5.4pt">
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  <TR STYLE="vertical-align: top">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">[Name]</TD></TR>
  </TABLE>

<P STYLE="font: 10pt/13.7pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>&nbsp;</B></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center; text-indent: 0in"><U>Exhibit C</U></P>

<P STYLE="font: 10pt/13.7pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>Form of Press Release</B></P>

<P STYLE="font: 10pt/13.7pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font-size: 10pt; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; text-align: left"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><IMG SRC="image_003.jpg" ALT="" STYLE="height: 58px; width: 262px"></FONT></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><IMG SRC="image_004.jpg" ALT="" STYLE="height: 52px; width: 104px"></FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>AMMO, Inc. Reaches Settlement Agreement with The
Urvan Group</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>Wayne Walker and Christos Tsentas Join the AMMO Board</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>The Urvan Group to Support the Company&rsquo;s Slate
of Director Nominees</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>at 2022 Annual Meeting</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>Announces Formation of CEO Succession Committee</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: left"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><I>Because of Market Conditions, Company Suspends the
Separation of its Ammunition and Marketplace Businesses into Two Independent Publicly Traded Companies</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>SCOTTSDALE, Ariz., Nov. 7, 2022 --&nbsp;</B>AMMO,
Inc. (NASDAQ: POWW, POWWP) (&ldquo;AMMO&rdquo; or the &ldquo;Company&rdquo;) the owner of&nbsp;<FONT STYLE="color: #0563C1"><U>GunBroker.com</U></FONT>,
the largest online marketplace serving the firearms and shooting sports industries, and a leading vertically integrated producer of high-performance
ammunition and components, today announced that it has reached a settlement agreement (the &quot;Agreement&quot;)&nbsp;with Steven Urvan
and Susan Lokey (collectively, the &ldquo;Urvan Group&rdquo;).</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Pursuant to the Agreement, the Company will appoint
Christos Tsentas and Wayne Walker to the AMMO Board of Directors (the &ldquo;Board&rdquo;). Mr. Tsentas is a former investment banker
with M&amp;A and investment management experience, who also possesses firearms accessories manufacturing board experience. Mr. Walker
is a corporate governance expert with significant public company experience and more than 35 years of experience in corporate turnarounds.
Messrs. Tsentas and Walker will stand for election at the Company&rsquo;s 2022 Annual Meeting of Shareholders (the &ldquo;Annual Meeting&rdquo;),
which is scheduled for December 15, 2022. With the appointments, AMMO&rsquo;s Board will increase in size to nine directors.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&ldquo;We are pleased to have reached a constructive
outcome with The Urvan Group,&rdquo; said Fred Wagenhals, AMMO&rsquo;s Chairman &amp; CEO. &ldquo;We welcome these new directors and believe
they can and will contribute to our robust Board deliberations as we chart a path for the creation of shareholder value.&rdquo;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&ldquo;As a large shareholder, Board member and founder
of GunBroker.com, I look forward to AMMO&rsquo;s future, and believe the addition of Messrs. Tsentas and Walker as directors will help
strengthen the Board and propel the Company forward,&rdquo; said Mr. Urvan. &ldquo;I see a bright future for AMMO and look forward to
working with my fellow Board members to identify opportunities to drive profitable growth.&rdquo;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Pursuant to the Agreement, the Urvan Group has withdrawn
its slate of seven nominees and agreed to vote all of its shares in favor of the Board&rsquo;s slate at the Annual Meeting. The Board
will immediately form a new committee tasked with planning for CEO succession with the assistance of a nationally recognized search firm.
Further, given market conditions and shareholder feedback, the Company will suspend the separation of its ammunition and marketplace businesses
into two independent publicly traded companies.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company has also ended its previously announced
internal investigation into Mr. Urvan and Ms. Lokey. Mr. Urvan will remain on the Board.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Moreover, the Agreement includes customary standstill
and related provisions. The full agreement between AMMO and the Urvan Group will be filed by the Company on a Form 8-K with the U.S. Securities
and Exchange Commission.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company will file its definitive proxy statement
and other relevant documents in due course.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Shareholders do not need to take any action at this
time.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Sidley Austin LLP served as legal advisor to the Company.
Olshan Frome Wolosky LLP represented the Urvan Group.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>About Christos Tsentas</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Christos Tsentas serves as a Partner of Albion River
LLC, a private direct investment firm, with a focus on aerospace, defense and government related opportunities. Earlier, he served as
an investment banker at KippsDeSanto &amp; Co., an M&amp;A advisory firm focused on the aerospace and defense markets. Mr. Tsentas has
served on the board of directors of Magpul Industries Corporation, a designer and manufacturer of firearms accessories and outdoor lifestyle
products. Mr. Tsentas holds a B.S. in Finance and Accounting from the University of Virginia and an M.B.A. from Columbia Business School.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>About Wayne Walker</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Wayne Walker has served as President of Walker Nell
Partners, Inc., an international business consulting firm since its founding in 2004. Earlier in his career, Mr. Walker served as Partner
at ParenteBeard LLC, an accounting firm and as Senior Legal Counsel at E. I. du Pont de Nemours and Company. He currently serves on multiple
public and private boards, including Wrap Technologies, Inc., where he serves as chairman, Petro Pharmaceuticals, Inc., AYRO, Inc. and
Pitcairn Trust Company. Mr. Walker holds a B.A. from Loyola University New Orleans and a J.D. from the Columbus School of Law at the Catholic
University of America.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>About AMMO, Inc.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">With its corporate offices headquartered in Scottsdale,
Arizona, AMMO designs and manufactures products for a variety of aptitudes, including law enforcement, military, sport shooting and self-defense.
The Company was founded in 2016 with a vision to change, innovate and invigorate the complacent munitions industry. AMMO promotes branded
munitions as well as its patented STREAK&nbsp;<SUP>&trade;</SUP>&nbsp;Visual Ammunition, /stelTH/&nbsp;<SUP>&trade;</SUP>subsonic munitions,
and specialty rounds for military and law enforcement use via government programs. For more information, please visit:&nbsp;<FONT STYLE="color: #0563C1"><U>www.ammo-inc.com</U></FONT>.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>About GunBroker.com</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">GunBroker.com is the largest online marketplace dedicated
to firearms, hunting, shooting and related products. Third-party sellers list items on the site and Federal and state laws govern the
sale of firearms and other restricted items. Ownership policies and regulations are followed using licensed firearms dealers as transfer
agents. Launched in 1999, GunBroker.com is an informative, secure and safe way to buy and sell firearms, ammunition, air guns, archery
equipment, knives and swords, firearms accessories and hunting/shooting gear online.&nbsp;<FONT STYLE="color: #0563C1"><U>GunBroker.com</U></FONT>&nbsp;promotes
responsible ownership of guns and firearms. For more information, please visit:&nbsp;<FONT STYLE="color: #0563C1"><U>www.gunbroker.com</U></FONT>.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Forward Looking Statements</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">This document contains &ldquo;forward-looking statements&rdquo;
within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements
can be identified by words like &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;likely,&rdquo; &ldquo;should,&rdquo; &ldquo;expect,&rdquo;
 &ldquo;anticipate,&rdquo; &ldquo;future,&rdquo; &ldquo;plan,&rdquo; &ldquo;believe,&rdquo; &ldquo;intend,&rdquo; &ldquo;goal,&rdquo; &ldquo;seek,&rdquo;
 &ldquo;estimate,&rdquo; &ldquo;project,&rdquo; &ldquo;continue,&rdquo; and similar expressions. Forward-looking statements are neither
historical facts nor assurances of future performance. Instead, they are based only on current beliefs, expectations and assumptions regarding
the future of the business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions.
Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances
that are difficult to predict. Actual results and financial condition may differ materially from those indicated in the forward-looking
statements. Therefore, you should not rely on any of these forward-looking statements. The risks and uncertainties which forward-looking
statements are subject to include, but are not limited to: risks related to the separation of our ammunition and marketplace businesses,
including that the process of exploring the transaction and potentially completing the transaction could disrupt or adversely affect the
consolidated or separate businesses, results of operations and financial condition, risks related to Action Outdoor Sports, Inc. (&ldquo;AOS&rdquo;)
not being able to recruit the appropriate members of its executive management team or board of directors, risks related to the transaction
not being completed in accordance with our expected plans or anticipated timelines, or at all, risks related to the transaction not achieving
some or all of any of the anticipated benefits with respect to either business, and risks related to AOS&rsquo;s ability to succeed as
a standalone publicly traded company. We do not undertake to update forward-looking statements to reflect the impact of circumstances
or events that arise after the dates they are made. You should, however, consult further disclosures and risk factors we include in Annual
Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports filed on Form 8-K.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 23 -->
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Important Additional Information and Where to Find
It</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">AMMO, Inc. (the &ldquo;Company&rdquo;) intends to file
a proxy statement on Schedule 14A, an accompanying proxy card and other relevant documents with the Securities and Exchange Commission
(&ldquo;SEC&rdquo;) in connection with its solicitation of proxies from the Company&rsquo;s shareholders for the Company&rsquo;s 2022
Annual Meeting of Shareholders (the &ldquo;Annual Meeting&rdquo;). BEFORE MAKING ANY VOTING DECISION, SHAREHOLDERS OF THE COMPANY ARE
STRONGLY ENCOURAGED TO READ THE COMPANY&rsquo;S DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ALL OTHER
DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.
Investors may obtain copies of the Company&rsquo;s proxy statement, proxy card, any amendments or supplements thereto and other documents
filed by the Company with the SEC when they become available at no charge at the SEC&rsquo;s website at&nbsp;<FONT STYLE="color: #0563C1"><U>www.sec.gov</U></FONT>.
Copies will also be available at no charge in the &ldquo;SEC Filings&rdquo; section of the Company&rsquo;s Investor Relations website
at&nbsp;<FONT STYLE="color: #0563C1"><U>https://investors.ammoinc.com</U></FONT>&nbsp;or by contacting the Company&rsquo;s Investor Relations
Department at&nbsp;<FONT STYLE="color: #0563C1"><U>IR@ammo-inc.com</U></FONT>&nbsp;after such materials are electronically filed with,
or furnished to, the SEC.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>Certain Information Regarding Participants to the
Solicitation</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Company, its directors and certain of its executive
officers are participants in the solicitation of proxies from the Company&rsquo;s shareholders in connection with matters to be considered
at the Annual Meeting. Information regarding the direct and indirect interests, by security holdings or otherwise, of the Company&rsquo;s
directors and executive officers in the Company is included in the Company&rsquo;s Proxy Statement on Schedule 14A for its 2021 Annual
Meeting of Shareholders, filed with the SEC on September 13, 2021, the Company&rsquo;s Annual Report on Form 10-K for the year ended March
31, 2022, filed with the SEC on June 29, 2022, and in the Company&rsquo;s Current Reports on Form 8-K filed with the SEC from time to
time. Changes to the direct or indirect interests of the Company&rsquo;s directors and executive officers are set forth in SEC filings
on Initial Statements of Beneficial Ownership on Form 3 or Statements of Change in Ownership on Form 4. These documents are available
free of charge as described above. Updated information regarding the identities of potential participants and their direct or indirect
interests, by security holdings or otherwise, in the Company will be set forth in the Proxy Statement for the Annual Meeting and other
relevant documents to be filed with the SEC, if and when they become available.</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><B>Media Contact:</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left">Victoria Welch<BR>
AMMO, Inc.<BR>
Phone: (480) 947-0001<BR>
<FONT STYLE="color: #0563C1"><U>vwelch@ammoinc.com</U></FONT></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left"><B>Investor Contact</B></P>

<P STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: left">Matt Blazei<BR>
Phone: (516) 386-0430<BR>
<FONT STYLE="color: #0563C1"><U>IR@ammo-inc.com</U></FONT></P>

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