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GOODWILL AND INTANGIBLE ASSETS | 3 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | NOTE 12 – GOODWILL AND INTANGIBLE ASSETS Amortization expenses related to our intangible assets for the three months ended June 30, 2024 and 2023 were $3,189,591 and $3,266,760, respectively. SCHEDULE OF INTANGIBLE ASSETS
|  |  |  |  | June 30, 2024 |
|  | Life |  |  | Licenses |  |  | Patent |  |  | Other Intangible Assets |
Licensing Agreement – Jesse James |  |  | 5 |  |  | $ | 125,000 |  |  | $ | - |  |  | $ | - |
Licensing Agreement – Jeff Rann |  |  | 5 |  |  |  | 125,000 |  |  |  | - |  |  |  | - |
Streak Visual Ammunition patent |  |  | 11.2 |  |  |  | - |  |  |  | 950,000 |  |  |  | - |
SWK patent acquisition |  |  | 15 |  |  |  | - |  |  |  | 6,124,005 |  |  |  | - |
Jagemann Munition Components: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer Relationships |  |  | 3 |  |  |  | - |  |  |  | - |  |  |  | 1,450,613 |
Intellectual Property |  |  | 3 |  |  |  | - |  |  |  | - |  |  |  | 1,543,548 |
Tradename |  |  | 5 |  |  |  | - |  |  |  | - |  |  |  | 2,152,076 |
GDI Acquisition: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tradename |  |  | 15 |  |  |  | - |  |  |  | - |  |  |  | 76,532,389 |
Customer List |  |  | 10 |  |  |  | - |  |  |  | - |  |  |  | 65,252,802 |
Intellectual Property |  |  | 10 |  |  |  | - |  |  |  | - |  |  |  | 4,224,442 |
Other Intangible Assets |  |  | 5 |  |  |  | - |  |  |  | - |  |  |  | 607,747 |
|  |  |  |  |  |  | 250,000 |  |  |  | 7,074,005 |  |  |  | 151,763,617 |
Accumulated amortization – Licensing Agreements |  |  |  |  |  |  | (250,000 | ) |  |  | - |  |  |  | - |
Accumulated amortization – Patents |  |  |  |  |  |  | - |  |  |  | (2,658,081 | ) |  |  | - |
Accumulated amortization – Intangible Assets |  |  |  |  |  |  | - |  |  |  | - |  |  |  | (43,780,775 | )
|  |  |  |  |  | $ | - |  |  | $ | 4,415,924 |  |  | $ | 107,982,842 |
Annual amortization of intangible assets for the next five fiscal years are as follows: SCHEDULE OF ANNUAL AMORTIZATION OF INTANGIBLE ASSET
Years Ended March 31, |  | Estimates for Fiscal Year |
2024(1) |  | $ | 9,461,051 |
2025 |  |  | 12,614,775 |
2026 |  |  | 12,549,188 |
2027 |  |  | 12,543,226 |
2028 |  |  | 12,507,792 |
Thereafter |  |  | 52,722,734 |
Annual amortization of intangible assets |  | $ | 112,398,766 |
(1) | This amount represents future amortization for the remaining nine months of fiscal year 2024. It does not include any amortization for the three months ended June 30, 2024.
AMMO, Inc. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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