GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

NOTE 20 – GOODWILL AND INTANGIBLE ASSETS

During the year ended March 31, 2022, we recorded $90,870,094 of goodwill generated from our Merger with Gemini. The balance of goodwill at March 31, 2024 and 2023 was $90,870,094. We did not have any goodwill prior to the year ended March 31, 2022.

Total amortization expense of our intangible assets was $12,968,491, $13,114,325, and $13,143,168 for the years ended March 31, 2024, 2023, and 2022, respectively. During the year ended March 31, 2024, we disposed of an intangible asset resulting in a loss of $108,333, which is reflected in other (expense) income on the consolidated statement of operations.

Intangible assets consisted of the following:


		March 31, 2024
	Life	Licenses			Patent			Other Intangible Assets
		(Restated)			(Restated)			(Restated)
Licensing Agreement – Jesse James	5	$	125,000		$	-		$	-
Licensing Agreement – Jeff Rann	5		250,000			-			-
Streak Visual Ammunition patent	11.2		-			950,000			-
SWK patent acquisition	15		-			6,652,005			-
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		-			-			357,747
			375,000			7,602,005			151,513,617

Accumulated amortization – Licensing Agreements			(375,000	)		-			-
Accumulated amortization – Patents			-			(2,845,999	)		-
Accumulated amortization – Intangible Assets			-			-			(40,464,550	)
		$	-		$	4,756,006		$	111,049,067


		March 31, 2023
	Life	Licenses			Patent			Other Intangible Assets
		(Restated)			(Restated)
Licensing Agreement – Jesse James	5	$	125,000		$	-		$	-
Licensing Agreement – Jeff Rann	5		250,000			-			-
Streak Visual Ammunition patent	11.2		-			950,000			-
SWK patent acquisition	15		-			6,652,005			-
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
			375,000			7,602,005			151,763,617

Accumulated amortization – Licensing Agreements			(375,000	)					-
Accumulated amortization – Patents			-			(2,305,251	)		-
Accumulated amortization – Intangible Assets			-			-			(28,036,807	)
		$	-		$	5,296,754		$	123,726,810


		March 31, 2022
	Life	Licenses			Patent			Other Intangible Assets
		(Restated)			(Restated)
Licensing Agreement – Jesse James	5	$	125,000		$	-		$	-
Licensing Agreement – Jeff Rann	5		250,000			-			-
Streak Visual Ammunition patent	11.2		-			950,000			-
SWK patent acquisition	15		-			6,652,005			-
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
			375,000			7,602,005			151,763,617

Accumulated amortization – Licensing Agreements			(375,000	)		-			-
Accumulated amortization – Patents			-			(1,764,503	)		-
Accumulated amortization – Intangible Assets			-			-			(15,463,230	)
		$	-		$	5,837,502		$	136,300,387

Annual estimated amortization of intangible assets for the next five fiscal years are as follows:


Years Ended March 31,	Estimates for Fiscal Year
2025	$	12,697,926
2026		12,662,059
2027		12,596,472
2028		12,590,510
2029		12,555,076
Thereafter		52,703,030
	$	115,805,073