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CAPITAL STOCK | 3 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
CAPITAL STOCK | NOTE 10 – CAPITAL STOCK Our authorized capital consists of 200,000,000 shares of common stock with a par value of $0.001 per share. During the three months ended June 30, 2024, we issued 366,164 shares of common stock net of the 205,704 acquired common shares held by employees who tendered owned common shares to satisfy the tax withholding as follows:
| ● | 360,833 shares valued at $606,199 were issued to employees and members of the Board of Directors.
AMMO, Inc. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS At June 30, 2024, outstanding and exercisable stock purchase warrants consisted of the following: SCHEDULE OF OUTSTANDING AND EXERCISABLE STOCK PURCHASE WARRANTS
|  | Number of Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Life Remaining (Years) |
Outstanding at March 31, 2024 |  |  | 1,708,830 |  |  | $ | 2.16 |  |  |  | 1.09 |
Granted |  |  | - |  |  |  | - |  |  |  | - |
Exercised |  |  | - |  |  |  | - |  |  |  | - |
Forfeited or cancelled |  |  | (40,000 | ) |  |  | 2.40 |  |  |  | - |
Outstanding at June 30, 2024 |  |  | 1,668,830 |  |  | $ | 2.15 |  |  |  | 1.02 |
Exercisable at June 30, 2024 |  |  | 1,668,830 |  |  | $ | 2.15 |  |  |  | 1.02 |
As of June 30, 2024, we had 1,668,830 warrants outstanding. Each warrant provides the holder the right to purchase up to one share of our Common Stock at a predetermined exercise price. The outstanding warrants consist of (1) warrants to purchase 911 shares of Common Stock at an exercise price of $1.65 per share until April 2025; (2) warrants to purchase 1,244,108 shares of our Common Stock at an exercise price of $2.00 per share consisting of 1% of the warrants until August 2024, and 99% until February 2026; (3) warrants to purchase 37,500 shares of Common Stock at an exercise price of $2.40 until September 2024; and (4) warrants to purchase 386,311 shares of Common Stock at an exercise price of $2.63 until November 2025. Option Granted During the year ended March 31, 2024, we granted stock options (“Options”) to purchase 400,000 shares of our Common Stock to our Chief Executive Officer, of which (i) 100,000 Options shall vest on the Effective Date, and (ii) 300,000 Options shall vest in equal quarterly installments of 25,000 over 3 years beginning on the first quarter ended September 30, 2023. The Options shall (a) be exercisable at an exercise price per share equal to the closing market price of the Company’s common stock on the date of the grant, (b) have a term of ten years, and (c) be on such other terms as shall be determined by the Board (or the Compensation Committee of the Board) and set forth in a customary form of stock option agreement under the Plan evidencing the Options. We recognized $41,055 in expense related to the Options for the three months ended June 30, 2024.

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