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Cover - USD ($)
 12 Months Ended
Mar. 31, 2024
May 15, 2025
Sep. 30, 2023
Document Type 10-K/A    
Amendment Flag true    
Document Annual Report true    
Document Transition Report false    
Document Period End Date Mar. 31, 2024    
Document Fiscal Period Focus FY    
Document Fiscal Year Focus 2024    
Current Fiscal Year End Date --03-31    
Entity File Number 001-13101    
Entity Registrant Name Outdoor Holding Company    
Entity Central Index Key 0001015383    
Entity Tax Identification Number 83-1950534    
Entity Incorporation, State or Country Code DE    
Entity Address, Address Line One 7681 E Gray Road    
Entity Address, City or Town Scottsdale    
Entity Address, State or Province AZ    
Entity Address, Postal Zip Code 85260    
City Area Code (480)    
Local Phone Number 947-0001    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status No    
Entity Interactive Data Current No    
Entity Filer Category Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Public Float     $ 179,118,089
Entity Common Stock, Shares Outstanding   118,744,062  
Documents Incorporated By Reference

DOCUMENTS INCORPORATED BY REFERENCE

None.

    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] true    
Document Financial Statement Restatement Recovery Analysis [Flag] true    
Amendment Description Outdoor Holding Company (formerly AMMO, Inc.) (“Ammo”, “we”, “us”, “our”, or the “Company”) is filing this Amendment No. 2 to Form 10-K (this “Amendment” or “Form 10-K/A”) to amend and restate certain items in its Annual Report on Form 10-K for the fiscal year ended March 31, 2024, originally filed with the Securities and Exchange Commission (the “SEC”) on June 13, 2024, as amended by Amendment No. 1 to Form 10-K filed with the SEC on July 29, 2024 (as amended, the “Original Filing”). In filing this Amendment, we are restating our previously issued (i) audited consolidated financial statements as of and for the fiscal years ended March 31, 2024, 2023 and 2022 and (ii) unaudited condensed consolidated interim financial information for each of the quarters within the fiscal year ended March 31, 2024 to account for the issues described in “Background of the Restatement” below. In addition, we intend to file an amendment to our Quarterly Report on Form 10-Q for the fiscal quarter ended June 30, 2024 (such period, collectively with the fiscal years ended March 31, 2024, 2023 and 2022 and the quarters within the fiscal year ended March 31, 2024, the “Affected Periods”), originally filed with the SEC on August 8, 2024, which amendment will include restated unaudited condensed consolidated interim financial information as of and for the three months ended June 30, 2024 and 2023 (such report, together with this Amendment, the “Amended Reports”). The previously issued financial statements for the Affected Periods should no longer be relied upon. All material restatement information will be included in the Amended Reports, and we do not intend to separately amend other filings that we have previously filed with the SEC.Accordingly, investors and other readers should rely only on the financial information and other disclosures regarding the Affected Periods in the Amended Reports and in any other future filings with the SEC (as applicable) and should not rely on any previously issued or filed reports, press releases, corporate presentations or similar communications relating to the Affected Periods described above. Sale of Ammo Manufacturing Business and Name Change On April 18, 2025, the Company, together with its subsidiaries AMMO Technologies, Inc., an Arizona corporation (“AMMO Tech”), Enlight Group II, LLC d/b/a Jagemann Munition Components d/b/a Buythebullets, a Delaware limited liability company (“Enlight”), Firelight Group I, LLC, a Delaware limited liability company (“Firelight”, and together with AMMO Tech, and Enlight, collectively, the “Sellers”, and the Sellers together with the Company, the “Seller Group”) completed the previously announced (i) sale of all assets of the Sellers related to the Sellers’ business of designing, manufacturing, marketing, distributing and selling ammunition and ammunition components (collectively, the “Ammunition Manufacturing Business”) along with certain assets of the Company related to the Ammunition Manufacturing Business, and (ii) assumption of certain liabilities of the Seller Group related to the Ammunition Manufacturing Business, for a gross purchase price of $75,000,000, subject to certain adjustments, in accordance with the terms of that certain Asset Purchase Agreement, dated January 20, 2025, by and among the Seller Group and Olin Winchester, LLC, a Delaware limited liability company (the “Buyer”), as amended on April 18, 2025 by the First Amendment to the Asset Purchase Agreement (the “Purchase Agreement” and the transaction contemplated thereby, the “Transaction"). The assets acquired, and the liabilities assumed, by the Buyer were those primarily related to the Ammunition Manufacturing Business, including the Ammunition Manufacturing Business’ dedicated manufacturing facility located in Manitowoc, Wisconsin. The Company will continue to operate its online marketplace business associated with selling ammunition and firearms as a brokering agent or through direct sales through the Company’s subsidiary Speedlight Group I, LLC d/b/a GunBroker and its subsidiaries.In connection with the closing of the Transaction, effective April 21, 2025, the Company changed its name from “AMMO, Inc.” to “Outdoor Holding Company.” Except as otherwise provided in this Amendment, all references to the Company in this Amendment refer to the Company and its subsidiaries on a consolidated basis prior to the closing of the Transaction. Background of the Restatement In September 2024, a Special Committee (the "Special Committee") of the Board of Directors of the Company (the “Board of Directors”) initiated an independent investigation (the "Special Committee Investigation") through independent legal counsel and independent forensic accountants. During the course of the Special Committee Investigation, the Special Committee discovered accounting and financial reporting errors that required restatement resulting primarily from (i) inaccurate valuation of, and accounting for, share-based compensation awards to employees, non-employee directors, and other service providers, and shares issued in exchange for goods and services, (ii) inappropriate capitalization of certain share issuance costs, and (iii) inappropriate accounting for certain convertible notes and warrants issued by the Company. During the course of the Special Committee Investigation, the Special Committee also found that the Company had not properly disclosed certain executive officers, executive compensation and related party transactions. In conjunction with the restatement of the items above, we also made corresponding income tax adjustments to our consolidated financial statements, as these balances were impacted by the aforementioned adjustments.On September 27, 2024, the Company received a communication from its independent registered public accounting firm, Pannell Kerr Forster of Texas, P.C. (“PKF”), in which PKF requested that the Company take action to disclose that the historical financial statements and auditors’ reports previously reported by the Company relating to the financial statements as of and for the years ended March 31, 2024, 2023, 2022 and 2021 should no longer be relied upon. On October 3, 2024, the Company filed a Current Report on Form 8-K disclosing that the foregoing financial statements and auditors’ reports, as well as the financial statements for all interim periods within the fiscal years ended March 31, 2024, 2023, and 2022, should no longer be relied upon. The Company’s management concluded that in light of the Special Committee Investigation issues noted above, a material weakness existed in the Company’s internal control over financial reporting during such periods and that the Company’s disclosure controls and procedures were not effective.On February 4, 2025, the Audit Committee of the Board of Directors (the “Audit Committee”), in consultation with the Company’s management, determined that the Company’s financial statements for the Affected Periods would be restated. On February 24, 2025, the Audit Committee, after consultation with the Company’s management and its accounting advisors and consultants, concluded that the previously reported financial statements as of and for (i) the fiscal years ended March 31, 2020, 2019 and 2018 and December 31, 2017, (ii) all interim periods within such years and (iii) the transition period (the “Transition Period”) from January 1, 2018 to March 31, 2018 (collectively, the “Prior Periods”), including the auditors’ reports on the financial statements for all fiscal years within the Prior Periods and the Transition Period, should no longer be relied upon due to errors in such financial statements as addressed in FASB ASC Topic 250, Accounting Changes and Error Corrections. Furthermore, the Company’s management concluded that a material weakness existed in the Company’s internal control over financial reporting during the Prior Periods and that the Company’s disclosure controls and procedures were not effective.Effects of the RestatementAs discussed in Note 3 to the accompanying consolidated financial statements in this Amendment, we have restated our consolidated financial statements and the related disclosures for fiscal years ended March 31, 2024, 2023 and 2022. Specifically, we have restated our consolidated balance sheet as of March 31, 2024, 2023, and 2022 and the related consolidated statements of operations, stockholders’ equity and cash flows, including related disclosures, for the fiscal years ended March 31, 2024, 2023, and 2022. The accompanying Management’s Discussion and Analysis of Financial Condition and Results of Operations in Part II, Item 7, has been updated to reflect the effects of the restatement.In addition, this Amendment includes unaudited restated condensed consolidated financial information for the fiscal quarters ended June 30, 2023, September 30, 2023 and December 31, 2023.    
Auditor Firm ID 342    
Auditor Name Pannell Kerr Forster of Texas, P.C.    
Auditor Location Texas    
Auditor Opinion [Text Block]

Opinion on the Financial Statements

 

We have audited the accompanying consolidated balance sheets of Outdoor Holding Company and Subsidiaries (the “Company”) as of March 31, 2024, 2023 and 2022, the related consolidated statements of operations, stockholders’ equity and cash flows for each of the years in the three year period ended March 31, 2024, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of March 31, 2024, 2023 and 2022, and the results of its operations and its cash flows for each of the years in the three-year period ended March 31, 2024 in conformity with U. S. Generally Accepted Accounting Principles.

 

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company’s internal control over financial reporting as of March 31, 2024 and 2023, based on criteria established in Internal Control—Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), and our report dated May 20 ,2025, expressed an adverse opinion.

    
Common Stock 0.001 Par Value [Member]      
Title of 12(b) Security Common Stock, $0.001 par value    
Trading Symbol POWW    
Security Exchange Name NASDAQ    
8.75 Series A Cumulative Redeemable Perpetual Preferred Stock 0.001 Par Value [Member]      
Title of 12(b) Security 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock, $0.001 par value    
Trading Symbol POWWP    
Security Exchange Name NASDAQ