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QUARTERLY RESULTS OF OPERATIONS (Tables)

12 Months Ended

Mar. 31, 2024

Quarterly Financial Information Disclosure [Abstract]

SCHEDULE OF QUARTERLY STATEMENT OF OPERATIONS, BALANCE SHEET INFORMATION, STOCKHOLDERS' EQUITY AND CASH FLOWS

Unaudited interim consolidated results of operations for the fiscal year ended March 31, 2024 were as follows:


	Quarter Ended
Fiscal 2024	June 30,			September 30,			December 31,			March 31,
(Unaudited)	2023			2023			2023			2024
	(Restated)			(Restated)			(Restated)			(Restated)
Net revenues	$	34,254,575		$	34,372,386		$	36,006,464		$	40,421,147
Gross profit		14,012,719			8,276,445			10,898,555			9,387,766
Loss from operations		(1,998,400	)		(9,011,953	)		(2,576,497	)		(6,033,811	)
Net loss		(1,304,062	)		(7,665,967	)		(2,405,778	)		(5,217,802	)
Net loss attributable to common stock shareholders		(2,078,194	)		(8,448,606	)		(3,188,417	)		(6,000,441	)

Net loss per share
Basic	$	(0.02	)	$	(0.07	)	$	(0.03	)	$	(0.05	)
Diluted	$	(0.02	)	$	(0.07	)	$	(0.03	)	$	(0.05	)

The following tables set for the restatement of the Company's unaudited interim consolidated results of operations for the three months ended June 30, 2023, three and six months ended September 30, 2023, the three and nine months ended December 31, 2023, and the three months ended March 31, 2024:


	For the three months ended June 30, 2023
(Unaudited)				Adjustments
	As Previously Reported			Stock Based Payments			Other			As Restated
Net revenues
Ammunition sales	$	14,106,029		$	-		$	-		$	14,106,029
Marketplace revenue		13,912,202			-			-			13,912,202
Casing sales		6,236,344			-			-			6,236,344
Total revenues		34,254,575			-			-			34,254,575

Cost of revenues		20,230,035			-			11,821			20,241,856
Gross profit		14,024,540			-			(11,821	)		14,012,719

Operating expenses
Selling and marketing		295,581			-			-			295,581
Corporate general and administrative		7,947,563			-			-			7,947,563
Employee salaries and related expenses		4,116,280			307,652			-			4,423,932
Depreciation and amortization expense		3,344,043			-			-			3,344,043
Total operating expenses		15,703,467			307,652			-			16,011,119
Income/(loss) from operations		(1,678,927	)		(307,652	)		(11,821	)		(1,998,400	)

Other expenses
Other income		692,951			-			-			692,951
Interest expense		(204,201	)		-			-			(204,201	)
Total other expense		488,750			-			-			488,750

Income/(loss) before income taxes		(1,190,177	)		(307,652	)		(11,821	)		(1,509,650	)

Provision for income taxes		(97,144	)		-			(108,444	)		(205,588	)

Net income/(loss)		(1,093,033	)		(307,652	)		96,623			(1,304,062	)

Preferred stock dividend		(774,132	)		-			-			(774,132	)

Net income/(loss) attributable to common stock shareholders	$	(1,867,165	)	$	(307,652	)	$	96,623		$	(2,078,194	)

Net income/(loss) per share
Basic	$	(0.02	)							$	(0.02	)
Diluted	$	(0.02	)							$	(0.02	)


	For the three months ended September 30, 2023
(Unaudited)				Adjustments
	As Previously Reported			Stock Based Payments			Other			As Restated
Net revenues
Ammunition sales	$	15,516,589		$	-		$	-		$	15,516,589
Marketplace revenue		12,474,716			-			-			12,474,716
Casing sales		6,381,081			-			-			6,381,081
Total revenues		34,372,386			-			-			34,372,386

Cost of revenues		26,084,120			-			11,821			26,095,941
Gross profit		8,288,266			-			(11,821	)		8,276,445

Operating expenses
Selling and marketing		289,952			-			-			289,952
Corporate general and administrative		7,855,624			-			-			7,855,624
Employee salaries and related expenses		5,590,035			180,985			-			5,771,020
Depreciation and amortization expense		3,371,802			-			-			3,371,802
Total operating expenses		17,107,413			180,985			-			17,288,398
Income/(loss) from operations		(8,819,147	)		(180,985	)		(11,821	)		(9,011,953	)

Other expenses
Other income		(321,341	)		-			-			(321,341	)
Interest expense		(212,314	)		-			-			(212,314	)
Total other expense		(533,655	)		-			-			(533,655	)

Income/(loss) before income taxes		(9,352,802	)		(180,985	)		(11,821	)		(9,545,608	)

Provision for income taxes		(1,857,505	)		-			(22,136	)		(1,879,641	)

Net income/(loss)		(7,495,297	)		(180,985	)		10,315			(7,665,967	)

Preferred stock dividend		(782,639	)		-			-			(782,639	)

Net income/(loss) attributable to common stock shareholders	$	(8,277,936	)	$	(180,985	)	$	10,315		$	(8,448,606	)

Net income/(loss) per share
Basic	$	(0.07	)							$	(0.07	)
Diluted	$	(0.07	)							$	(0.07	)


	For the six months ended September 30, 2023
(Unaudited)				Adjustments
	As Previously Reported			Stock Based Payments			Other			As Restated
Net revenues
Ammunition sales	$	29,622,618		$	-		$	-		$	29,622,618
Marketplace revenue		26,386,918			-			-			26,386,918
Casing sales		12,617,425			-			-			12,617,425
Total revenues		68,626,961			-			-			68,626,961

Cost of revenues		46,314,155			-			23,642			46,337,797
Gross profit		22,312,806			-			(23,642	)		22,289,164

Operating expenses
Selling and marketing		585,533			-			-			585,533
Corporate general and administrative		15,803,187			-			-			15,803,187
Employee salaries and related expenses		9,706,315			488,637			-			10,194,952
Depreciation and amortization expense		6,715,845			-			-			6,715,845
Total operating expenses		32,810,880			488,637			-			33,299,517
Income/(loss) from operations		(10,498,074	)		(488,637	)		(23,642	)		(11,010,353	)

Other expenses
Other income		371,610			-			-			371,610
Interest expense		(416,515	)		-			-			(416,515	)
Total other expense		(44,905	)		-			-			(44,905	)

Income/(loss) before income taxes		(10,542,979	)		(488,637	)		(23,642	)		(11,055,258	)

Provision for income taxes		(1,954,649	)		-			(130,580	)		(2,085,229	)

Net income/(loss)		(8,588,330	)		(488,637	)		106,938			(8,970,029	)

Preferred stock dividend		(1,556,771	)		-			-			(1,556,771	)

Net income/(loss) attributable to common stock shareholders	$	(10,145,101	)	$	(488,637	)	$	106,938		$	(10,526,800	)

Net income/(loss) per share
Basic	$	(0.09	)							$	(0.09	)
Diluted	$	(0.09	)							$	(0.09	)


	For the three months ended December 31, 2023
(Unaudited)				Adjustments
	As Previously Reported			Stock Based Payments			Other			As Restated
Net revenues
Ammunition sales	$	17,322,967		$	-		$	-		$	17,322,967
Marketplace revenue		13,985,034			-			-			13,985,034
Casing sales		4,698,463			-			-			4,698,463
Total revenues		36,006,464			-			-			36,006,464

Cost of revenues		25,096,088			-			11,821			25,107,909
Gross profit		10,910,376			-			(11,821	)		10,898,555

Operating expenses
Selling and marketing		236,565			-			-			236,565
Corporate general and administrative		5,803,255			-			-			5,803,255
Employee salaries and related expenses		3,390,153			643,923			-			4,034,076
Depreciation and amortization expense		3,401,156			-			-			3,401,156
Total operating expenses		12,831,129			643,923			-			13,475,052
Income/(loss) from operations		(1,920,753	)		(643,923	)		(11,821	)		(2,576,497	)

Other expenses
Other income		4,576			-			-			4,576
Interest expense		(193,046	)		-			-			(193,046	)
Total other expense		(188,470	)		-			-			(188,470	)

Income/(loss) before income taxes		(2,109,223	)		(643,923	)		(11,821	)		(2,764,967	)

Provision for income taxes		(465,234	)		-			106,045			(359,189	)

Net income/(loss)		(1,643,989	)		(643,923	)		(117,866	)		(2,405,778	)

Preferred stock dividend		(782,639	)		-			-			(782,639	)

Net income/(loss) attributable to common stock shareholders	$	(2,426,628	)	$	(643,923	)	$	(117,866	)	$	(3,188,417	)

Net income/(loss) per share
Basic	$	(0.02	)							$	(0.03	)
Diluted	$	(0.02	)							$	(0.03	)


	For the nine months ended December 31, 2023
(Unaudited)				Adjustments
	As Previously Reported			Stock Based Payments			Other			As Restated
Net revenues
Ammunition sales	$	46,945,585		$	-		$	-		$	46,945,585
Marketplace revenue		40,371,952			-			-			40,371,952
Casing sales		17,315,888			-			-			17,315,888
Total revenues		104,633,425			-			-			104,633,425

Cost of revenues		71,410,243			-			35,463			71,445,706
Gross profit		33,223,182			-			(35,463	)		33,187,719

Operating expenses
Selling and marketing		822,098			-			-			822,098
Corporate general and administrative		21,606,442			-			-			21,606,442
Employee salaries and related expenses		13,096,468			1,132,560			-			14,229,028
Depreciation and amortization expense		10,117,001			-			-			10,117,001
Total operating expenses		45,642,009			1,132,560			-			46,774,569
Income/(loss) from operations		(12,418,827	)		(1,132,560	)		(35,463	)		(13,586,850	)

Other expenses
Other income		376,186			-			-			376,186
Interest expense		(609,561	)		-			-			(609,561	)
Total other expense		(233,375	)		-			-			(233,375	)

Income/(loss) before income taxes		(12,652,202	)		(1,132,560	)		(35,463	)		(13,820,225	)

Provision for income taxes		(2,419,883	)		-			(24,535	)		(2,444,418	)

Net income/(loss)		(10,232,319	)		(1,132,560	)		(10,928	)		(11,375,807	)

Preferred stock dividend		(2,339,410	)		-			-			(2,339,410	)

Net income/(loss) attributable to common stock shareholders	$	(12,571,729	)	$	(1,132,560	)	$	(10,928	)	$	(13,715,217	)

Net income/(loss) per share
Basic	$	(0.11	)							$	(0.12	)
Diluted	$	(0.11	)							$	(0.12	)


	For the three months ended March 31, 2024
(Unaudited)				Adjustments
	As Previously Reported			Stock Based Payments			Other			As Restated
Net revenues
Ammunition sales	$	22,445,216		$	-		$	-		$	22,445,216
Marketplace revenue		13,570,124			-			-			13,570,124
Casing sales		4,405,807			-			-			4,405,807
Total revenues		40,421,147			-			-			40,421,147

Cost of revenues		31,021,560			-			11,821			31,033,381
Gross profit		9,399,587			-			(11,821	)		9,387,766

Operating expenses
Selling and marketing		547,981			-			-			547,981
Corporate general and administrative		7,976,832			-			-			7,976,832
Employee salaries and related expenses		3,607,354			(136,380	)		-			3,470,974
Depreciation and amortization expense		3,425,790			-			-			3,425,790
Total operating expenses		15,557,957			(136,380	)		-			15,421,577
Income/(loss) from operations		(6,158,370	)		136,380			(11,821	)		(6,033,811	)

Other expenses
Other income		(708,779	)		-			-			(708,779	)
Interest expense		163,088			-			-			163,088
Total other expense		(545,691	)		-			-			(545,691	)

Income/(loss) before income taxes		(6,704,061	)		136,380			(11,821	)		(6,579,502	)

Provision for income taxes		(1,371,180	)		-			9,480			(1,361,700	)

Net income/(loss)		(5,332,881	)		136,380			(21,301	)		(5,217,802	)

Preferred stock dividend		(782,639	)		-			-			(782,639	)

Net income/(loss) attributable to common stock shareholders	$	(6,115,520	)	$	136,380		$	(21,301	)	$	(6,000,441	)

Net income/(loss) per share
Basic	$	(0.05	)							$	(0.05	)
Diluted	$	(0.05	)							$	(0.05	)

Quarterly Balance Sheet Information

The unaudited interim consolidated balance sheets as of December 31, 2023, September 30, 2023, and June 30, 2023 are as follows:


(Unaudited)	December 31,				September 30,			June 30,
	2023				2023			2023
	(Restated)				(Restated)			(Restated)
ASSETS
Current assets:
Cash and cash equivalents	$		54,679,868		$	49,564,868		$	47,505,047
Accounts receivable, net			21,121,450			23,030,851			21,348,226
Inventories			49,502,732			53,014,205			55,924,655
Prepaid expenses			3,708,865			3,920,007			5,294,454
Current portion of restricted cash			-			-			500,000
Total current assets			129,012,915			129,529,931			130,572,382
		.
Equipment, net			57,278,603			55,821,414			55,923,867

Other assets:
Deposits			2,265,932			3,189,518			4,064,582
Patents, net			4,891,193			5,026,380			5,161,567
Other intangible assets, net			114,296,627			117,440,022			120,583,416
Goodwill			90,870,094			90,870,094			90,870,094
Right of use assets - operating leases			2,113,943			1,017,982			1,141,418
Deferred income tax asset			3,044,238			2,684,640			802,855
TOTAL ASSETS	$		403,773,545		$	405,579,981		$	409,120,181

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$		19,146,138		$	19,598,548		$	16,356,614
Accrued liabilities			6,603,892			6,282,980			4,677,757
Current portion of operating lease liability			463,059			370,980			421,477
Note payable related party			-			-			-
Current portion of construction note payable			265,977			265,977			277,216
Insurance premium note payable			173,029			1,157,745			2,204,293
Total current liabilities			26,652,095			27,676,230			23,937,357

Long-term liabilities:
Contingent consideration payable			80,080			99,302			119,354
Income tax payable			1,609,520			1,609,520			1,609,520
Construction note payable, net of unamortized issuance costs			10,797,696			10,830,663			10,861,510
Operating lease liability, net of current portion			1,737,615			744,616			825,043
Deferred income tax liability			-			-			-
Total liabilities			40,877,006			40,960,331			37,352,784

Shareholders’ equity:
Series A cumulative perpetual preferred Stock			1,400			1,400			1,400
Common stock			118,644			118,461			117,946
Additional paid-in capital			429,381,115			427,619,626			425,920,655
Accumulated deficit			(63,931,464	)		(60,743,047	)		(52,294,441	)
Treasury stock			(2,673,156	)		(2,376,790	)		(1,978,163	)
Total shareholders’ equity			362,896,539			364,619,650			371,767,397
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$		403,773,545		$	405,579,981		$	409,120,181

The following tables set forth the restatement of the Company's unaudited interim consolidated balance sheets as of June 30, 2023, September 30, 2023, and December 31, 2023:


(Unaudited)	As of June 30, 2023
					Adjustments
		As Previously Reported				Stock Based Payments			Equity Issuance Costs			Convertible Notes			Warrants			Acquisition			Other			Restated

ASSETS
Current assets:
Cash and cash equivalents		$	47,505,047			$	-		$	-		$	-		$	-		$	-		$	-		$	47,505,047
Accounts receivable, net			21,348,226				-			-			-			-			-			-			21,348,226
Inventories			55,924,655				-			-			-			-			-			-			55,924,655
Prepaid expenses			5,294,454				-			-			-			-			-			-			5,294,454
Current portion of restricted cash			500,000				-			-			-			-			-			-			500,000
Total current assets		$	130,572,382			$	-		$	-		$	-		$	-		$	-		$	-		$	130,572,382

Equipment, net			55,923,867				-			-			-			-			-			-			55,923,867

Other assets:
Deposits			4,064,582				-			-			-			-			-			-			4,064,582
Patents, net			4,909,388				-			-			-			-			-			252,179			5,161,567
Other intangible assets, net			120,583,416				-			-			-			-			-			-			120,583,416
Goodwill			90,870,094				-			-			-			-			-			-			90,870,094
Right of use assets - operating leases			1,141,418				-			-			-			-			-			-			1,141,418
Deferred income tax asset			-				-			-			-			-			-			802,855			802,855
TOTAL ASSETS		$	408,065,147			$	-		$	-		$	-		$	-		$	-		$	1,055,034		$	409,120,181

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$	16,356,614			$	-		$	-		$	-		$	-		$	-		$	-		$	16,356,614
Accrued liabilities			4,641,469				-			-			-			-			-			36,288			4,677,757
Current portion of operating lease liability			421,477				-			-			-			-			-			-			421,477
Note payable related party			-				-			-			-			-			-			-			-
Current portion of construction note payable			277,216				-			-			-			-			-			-			277,216
Insurance premium note payable			2,204,293				-			-			-			-			-			-			2,204,293
Total current liabilities			23,901,069				-			-			-			-			-			36,288			23,937,357

Long-term liabilities:
Contingent consideration payable			119,354				-			-			-			-			-			-			119,354
Income tax payable			-				-			-			-			-			-			1,609,520			1,609,520
Construction note payable, net of unamortized issuance costs			10,861,510				-			-			-			-			-			-			10,861,510
Operating lease liability, net of current portion			825,043				-			-			-			-			-			-			825,043
Deferred income tax liability			2,212,448				-			-			-			-			-			(2,212,448	)		-
Total liabilities			37,919,424				-			-			-			-			-			(566,640	)		37,352,784

Shareholders’ equity:
Series A cumulative perpetual preferred Stock			1,400				-			-			-			-			-			-			1,400
Common stock			117,946				-			-			-			-			-			-			117,946
Additional paid-in capital			392,813,530				12,486,057			7,420,492			6,024,240			1,298,336			5,225,000			653,000			425,920,655
Accumulated deficit			(20,808,990	)			(12,486,057	)		(7,420,492	)		(6,024,240	)		(1,298,336	)		(5,225,000	)		968,674			(52,294,441	)
Treasury stock			(1,978,163	)			-			-			-			-			-			-			(1,978,163	)
Total shareholders’ equity			370,145,723				-			-			-			-			-			1,621,674			371,767,397
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$	408,065,147			$	-		$	-		$	-		$	-		$	-		$	1,055,034		$	409,120,181


(Unaudited)	As of September 30, 2023
					Adjustments
		As Previously Reported				Stock Based Payments			Equity Issuance Costs			Convertible Notes			Warrants			Acquisition			Other			Restated

ASSETS
Current assets:
Cash and cash equivalents		$	49,564,868			$	-		$	-		$	-		$	-		$	-		$	-		$	49,564,868
Accounts receivable, net			23,030,851				-			-			-			-			-			-			23,030,851
Inventories			53,014,205				-			-			-			-			-			-			53,014,205
Prepaid expenses			3,920,007				-			-			-			-			-			-			3,920,007
Current portion of restricted cash			-				-			-			-			-			-			-			-
Total current assets		$	129,529,931			$	-		$	-		$	-		$	-		$	-		$	-		$	129,529,931

Equipment, net			55,821,414				-			-			-			-			-			-			55,821,414

Other assets:
Deposits			3,189,518				-			-			-			-			-			-			3,189,518
Patents, net			4,786,022				-			-			-			-			-			240,358			5,026,380
Other intangible assets, net			117,440,022				-			-			-			-			-			-			117,440,022
Goodwill			90,870,094				-			-			-			-			-			-			90,870,094
Right of use assets - operating leases			1,017,982				-			-			-			-			-			-			1,017,982
Deferred income tax asset			-				-			-			-			-			-			2,684,640			2,684,640
TOTAL ASSETS		$	402,654,983			$	-		$	-		$	-		$	-		$	-		$	2,924,998		$	405,579,981

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$	19,598,548			$	-		$	-		$	-		$	-		$	-		$	-		$	19,598,548
Accrued liabilities			6,250,164				-			-			-			-			-			32,816			6,282,980
Current portion of operating lease liability			370,980				-			-			-			-			-			-			370,980
Note payable related party			-				-			-			-			-			-			-			-
Current portion of construction note payable			265,977				-			-			-			-			-			-			265,977
Insurance premium note payable			1,157,745				-			-			-			-			-			-			1,157,745
Total current liabilities			27,643,414				-			-			-			-			-			32,816			27,676,230

Long-term liabilities:
Contingent consideration payable			99,302				-			-			-			-			-			-			99,302
Income tax payable			-				-			-			-			-			-			1,609,520			1,609,520
Construction note payable, net of unamortized issuance costs			10,830,663				-			-			-			-			-			-			10,830,663
Operating lease liability, net of current portion			744,616				-			-			-			-			-			-			744,616
Deferred income tax liability			349,327				-			-			-			-			-			(349,327	)		-
Total liabilities			39,667,322				-			-			-			-			-			1,293,009			40,960,331

Shareholders’ equity:
Series A cumulative perpetual preferred Stock			1,400				-			-			-			-			-			-			1,400
Common stock			118,461				-			-			-			-			-			-			118,461
Additional paid-in capital			394,331,516				12,667,042			7,420,492			6,024,240			1,298,336			5,225,000			653,000			427,619,626
Accumulated deficit			(29,086,926	)			(12,667,042	)		(7,420,492	)		(6,024,240	)		(1,298,336	)		(5,225,000	)		978,989			(60,743,047	)
Treasury stock			(2,376,790	)			-			-			-			-			-			-			(2,376,790	)
Total shareholders’ equity			362,987,661				-			-			-			-			-			1,631,989			364,619,650
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$	402,654,983			$	-		$	-		$	-		$	-		$	-		$	2,924,998		$	405,579,981


(Unaudited)	As of December 31, 2023
					Adjustments
		As Previously Reported				Stock Based Payments			Equity Issuance Costs			Convertible Notes			Warrants			Acquisition			Other		Restated

ASSETS
Current assets:
Cash and cash equivalents		$	54,679,868			$	-		$	-		$	-		$	-		$	-		$	-	$	54,679,868
Accounts receivable, net			21,121,450				-			-			-			-			-			-		21,121,450
Inventories			49,502,732				-			-			-			-			-			-		49,502,732
Prepaid expenses			3,708,865				-			-			-			-			-			-		3,708,865
Current portion of restricted cash			-				-			-			-			-			-			-		-
Total current assets		$	129,012,915			$	-		$	-		$	-		$	-		$	-		$	-	$	129,012,915

Equipment, net			57,278,603				-			-			-			-			-			-		57,278,603

Other assets:
Deposits			2,265,932				-			-			-			-			-			-		2,265,932
Patents, net			4,662,656				-			-			-			-			-			228,537		4,891,193
Other intangible assets, net			114,296,627				-			-			-			-			-			-		114,296,627
Goodwill			90,870,094				-			-			-			-			-			-		90,870,094
Right of use assets - operating leases			2,113,943				-			-			-			-			-			-		2,113,943
Deferred income tax asset			115,908				-			-			-			-			-			2,928,330		3,044,238
TOTAL ASSETS		$	400,616,678			$	-		$	-		$	-		$	-		$	-		$	3,156,867	$	403,773,545

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable		$	19,146,138			$	-		$	-		$	-		$	-		$	-		$	-	$	19,146,138
Accrued liabilities			6,570,668				-			-			-			-			-			33,224		6,603,892
Current portion of operating lease liability			463,059				-			-			-			-			-			-		463,059
Note payable related party			-				-			-			-			-			-			-		-
Current portion of construction note payable			265,977				-			-			-			-			-			-		265,977
Insurance premium note payable			173,029				-			-			-			-			-			-		173,029
Total current liabilities			26,618,871				-			-			-			-			-			33,224		26,652,095

Long-term liabilities:
Contingent consideration payable			80,080				-			-			-			-			-			-		80,080
Income tax payable			-				-			-			-			-			-			1,609,520		1,609,520
Construction note payable, net of unamortized issuance costs			10,797,696				-			-			-			-			-			-		10,797,696
Operating lease liability, net of current portion			1,737,615				-			-			-			-			-			-		1,737,615
Deferred income tax liability			-				-			-			-			-			-			-		-
Total liabilities			39,234,262				-			-			-			-			-			1,642,744		40,877,006

Shareholders’ equity:
Series A cumulative perpetual preferred Stock			1,400				-			-			-			-			-			-		1,400
Common stock			118,644				-			-			-			-			-			-		118,644
Additional paid-in capital			395,449,082				13,310,965			7,420,492			6,024,240			1,298,336			5,225,000			653,000		429,381,115
Accumulated deficit			(31,513,554	)			(13,310,965	)		(7,420,492	)		(6,024,240	)		(1,298,336	)		(5,225,000	)		861,123		(63,931,464	)
Treasury stock			(2,673,156	)			-			-			-			-			-			-		(2,673,156	)
Total shareholders’ equity			361,382,416				-			-			-			-			-			1,514,123		362,896,539
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$	400,616,678			$	-		$	-		$	-		$	-		$	-		$	3,156,867	$	403,773,545

The unaudited interim consolidated statements of stockholders' equity as of December 31, 2023, September 30, 2023, and June 30, 2023 are as follows:


	Preferred Stock				Common Shares
	Number		Par Value		Number			Par Value			Additional Paid-In Capital		Accumulated (Deficit)			Treasury Stock			Total
					(Restated)								(Restated)
Balance as of March 31, 2023 (restated)		1,400,000	$	1,400		118,294,478		$	118,294		$	424,739,847	$	(50,216,248	)	$	(522,158	)	$	374,121,135

Employee stock awards (Restated)		-		-		390,111			391			1,180,808		-			-			1,181,199
Preferred stock dividends declared		-		-		-			-			-		(638,038	)		-			(638,038	)
Dividends accumulated on preferred stock		-		-		-			-			-		(136,093	)		-			(136,093	)
Net loss (Restated)		-		-		-			-			-		(1,304,062	)		-			(1,304,062	)
Treasury shares purchased		-		-		(738,831	)		(739	)		-		-			(1,456,005	)		(1,456,744	)
Balance as of June 30, 2023 (restated)		1,400,000	$	1,400		117,945,758		$	117,946		$	425,920,655	$	(52,294,441	)	$	(1,978,163	)	$	371,767,397

Employee stock awards (Restated)		-		-		712,783			713			1,698,971		-			-			1,699,684
Preferred stock dividends declared		-		-		-			-			-		(646,545	)		-			(646,545	)
Dividends accumulated on preferred stock		-		-		-			-			-		(136,094	)		-			(136,094	)
Net loss (restated)		-		-		-			-			-		(7,665,967	)		-			(7,665,967	)
Treasury shares purchased		-		-		(197,798	)		(198	)		-		-			(398,627	)		(398,825	)
Balance as of September 30, 2023 (restated)		1,400,000	$	1,400		118,460,743		$	118,461		$	427,619,626	$	(60,743,047	)	$	(2,376,790	)	$	364,619,650

Employee stock awards (Restated)		-		-		328,333			328			1,381,444		-			-			1,381,772
Common stock purchase options		-		-		-			-			380,045		-			-			380,045
Preferred stock dividends declared		-		-		-			-			-		(638,021	)		-			(638,021	)
Dividends accumulated on preferred stock		-		-		-			-			-		(144,618	)		-			(144,618	)
Net loss (restated)		-		-		-			-			-		(2,405,778	)		-			(2,405,778	)
Treasury shares purchased		-		-		(145,483	)		(145	)		-		-			(296,366	)		(296,511	)
Balance as of December 31, 2023 (restated)		1,400,000	$	1,400		118,643,593		$	118,644		$	429,381,115	$	(63,931,464	)	$	(2,673,156	)	$	362,896,539

The following tables present the Additional Paid-In Capital ("APIC") as previously reported, restatement adjustments and the APIC as restated for the three months ended June 30, 2023, September 30, 2023, and December 31, 2023.


	Three Months Ended June 30, 2023
	As Previously Reported		Reclassification			Current Period Adjustment		As Restated
	(unaudited)
Employee stock awards	$	822,406	$	50,750		$	307,652	$	1,180,808
Stock grants		50,750		(50,750	)		-		-


	Three Months Ended September 30, 2023
	As Previously Reported		Reclassification			Current Period Adjustment		As Restated
	(unaudited)
Employee stock awards	$	1,467,236	$	50,750		$	180,985	$	1,698,971
Stock grants		50,750		(50,750	)		-		-


	Three Months Ended December 31, 2023
	As Previously Reported		Reclassification			Current Period Adjustment		As Restated
	(unaudited)
Employee stock awards	$	686,771	$	50,750		$	643,923	$	1,381,444
Stock grants		50,750		(50,750	)		-		-

The following tables set forth the restatement of the Company's unaudited interim consolidated statements of cash flow for the three months ended June 30, 2023, six months ended September 30, 2023, and nine months ended December 31, 2023 with the exception of the supplemental cash flows as there were no changes for the periods presented:


	For the three months ended June 30, 2023
(Unaudited)				Adjustments
	As Previously Reported			Stock Based Payments			Other			As Restated
Cash flows from operating activities:
Net income/(loss)	$	(1,093,033	)	$	(307,652	)	$	96,623		$	(1,304,062	)
Adjustments to reconcile net loss to cash provided by operations:
Depreciation and amortization		4,620,087			-			11,821			4,631,908
Debt discount amortization		20,813			-			-			20,813
Employee stock awards		873,547			307,652			-			1,181,199
Common stock purchase options		-			-			-			-
Contingent consideration payable fair value		(21,024	)		-			-			(21,024	)
Allowance for doubtful accounts		909,717			-			-			909,717
(Gain)/loss on disposal of assets		-			-			-			-
Reduction in right of use asset		120,216			-			-			120,216
Deferred income taxes		(97,144	)		-			(109,954	)		(207,098	)
Changes in current assets and liabilities
Accounts receivable		7,088,437			-			-			7,088,437
Inventories		(1,579,836	)		-			-			(1,579,836	)
Prepaid expenses		888,412			-			-			888,412
Deposits		2,964,365			-			-			2,964,365
Accounts payable		(1,722,783	)		-			-			(1,722,783	)
Accrued liabilities		152,021			-			1,510			153,531
Operating lease liability		(127,704	)		-			-			(127,704	)
Net cash provided by operating activities		12,996,091			-			-			12,996,091

Cash flows from investing activities:
Purchase of property, plant, and equipment		(1,313,939	)		-			-			(1,313,939	)
Net cash used in investing activities		(1,313,939	)		-			-			(1,313,939	)

Cash flows from financing activities:
Payments on inventory facility, net		-			-			-			-
Proceeds from factoring liability		14,610,314			-			-			14,610,314
Payments on factoring liability		(14,610,314	)		-			-			(14,610,314	)
Payments on note payable - related party		(180,850	)		-			-			(180,850	)
Payments on insurance premium note payment		(970,541	)		-			-			(970,541	)
Proceeds from construction note payable		-			-			-			-
Payments on construction note payable		(64,959	)		-			-			(64,959	)
Preferred stock dividends paid		(638,038	)		-			-			(638,038	)
Common stock repurchase plan		(1,456,744	)		-			-			(1,456,744	)
Net cash used in financing activities		(3,311,132	)		-			-			(3,311,132	)

Net increase/(decrease) in cash		8,371,020			-			-			8,371,020
Cash, beginning of period		39,134,027			-			-			39,134,027
Restricted cash, beginning of period		500,000			-			-			500,000
Cash and restricted cash, end of period	$	48,005,047		$	-		$	-		$	48,005,047
Restricted cash, end of period	$	500,000		$	-		$	-			500,000
Cash, end of period	$	47,505,047		$	-		$	-		$	47,505,047


	For the six months ended September 30, 2023
(Unaudited)				Adjustments
	As Previously Reported			Stock Based Payments			Other			As Restated
Cash flows from operating activities:
Net income/(loss)	$	(8,588,330	)	$	(488,637	)	$	106,938		$	(8,970,029	)
Adjustments to reconcile net loss to cash provided by operations:
Depreciation and amortization		9,293,566			-			23,642			9,317,208
Debt discount amortization		41,626			-			-			41,626
Employee stock awards		2,392,246			488,637			-			2,880,883
Common stock purchase options		-			-			-			-
Contingent consideration payable fair value		(41,076	)		-			-			(41,076	)
Allowance for doubtful accounts		1,047,587			-			-			1,047,587
(Gain)/loss on disposal of assets		-			-			-			-
Reduction in right of use asset		243,652			-			-			243,652
Deferred income taxes		(1,960,265	)		-			(128,618	)		(2,088,883	)
Changes in current assets and liabilities
Accounts receivable		5,267,942			-			-			5,267,942
Inventories		1,330,614			-			-			1,330,614
Prepaid expenses		2,262,859			-			-			2,262,859
Deposits		3,839,429			-			-			3,839,429
Accounts payable		1,519,151			-			-			1,519,151
Accrued liabilities		1,760,716			-			(1,962	)		1,758,754
Operating lease liability		(258,628	)		-			-			(258,628	)
Net cash provided by operating activities		18,151,089			-			-			18,151,089

Cash flows from investing activities:
Purchase of property, plant, and equipment		(2,618,205	)		-			-			(2,618,205	)
Net cash used in investing activities		(2,618,205	)		-			-			(2,618,205	)

Cash flows from financing activities:
Payments on inventory facility, net		-			-			-			-
Proceeds from factoring liability		26,047,370			-			-			26,047,370
Payments on factoring liability		(26,047,370	)		-			-			(26,047,370	)
Payments on note payable - related party		(180,850	)		-			-			(180,850	)
Payments on insurance premium note payment		(2,017,089	)		-			-			(2,017,089	)
Proceeds from construction note payable		-			-			-			-
Payments on construction note payable		(127,858	)		-			-			(127,858	)
Preferred stock dividends paid		(1,420,677	)		-			-			(1,420,677	)
Common stock repurchase plan		(1,855,569	)		-			-			(1,855,569	)
Net cash used in financing activities		(5,602,043	)		-			-			(5,602,043	)

Net increase/(decrease) in cash		9,930,841			-			-			9,930,841
Cash, beginning of period		39,134,027			-			-			39,134,027
Restricted cash, beginning of period		500,000			-			-			500,000
Cash and restricted cash, end of period	$	49,564,868		$	-		$	-		$	49,564,868
Restricted cash, end of period	$	-		$	-		$	-		$	-
Cash, end of period	$	49,564,868		$	-		$	-		$	49,564,868


	For the nine months ended December 31, 2023
(Unaudited)				Adjustments
	As Previously Reported			Stock Based Payments			Other			As Restated
Cash flows from operating activities:
Net income/(loss)	$	(10,232,319	)	$	(1,132,560	)	$	(10,928	)	$	(11,375,807	)
Adjustments to reconcile net loss to cash provided by operations:
Depreciation and amortization		14,047,216			-			35,463			14,082,679
Debt discount amortization		62,440			-			-			62,440
Employee stock awards		3,130,095			1,132,560			-			4,262,655
Common stock purchase options		380,045			-			-			380,045
Contingent consideration payable fair value		(60,298	)		-			-			(60,298	)
Allowance for doubtful accounts		1,117,565			-			-			1,117,565
(Gain)/loss on disposal of assets		-			-			-			-
Reduction in right of use asset		362,402			-			-			362,402
Deferred income taxes		(2,425,500	)		-			(22,981	)		(2,448,481	)
Changes in current assets and liabilities
Accounts receivable		7,107,365			-			-			7,107,365
Inventories		4,842,087			-			-			4,842,087
Prepaid expenses		2,474,001			-			-			2,474,001
Deposits		4,763,015			-			-			4,763,015
Accounts payable		1,066,741			-			-			1,066,741
Accrued liabilities		2,072,696			-			(1,554	)		2,071,142
Operating lease liability		(388,261	)		-			-			(388,261	)
Net cash provided by operating activities		28,319,290			-			-			28,319,290

Cash flows from investing activities:
Purchase of property, plant, and equipment		(5,562,283	)		-			-			(5,562,283	)
Net cash used in investing activities		(5,562,283	)		-			-			(5,562,283	)

Cash flows from financing activities:
Payments on inventory facility, net		-			-			-			-
Proceeds from factoring liability		37,252,869			-			-			37,252,869
Payments on factoring liability		(37,252,869	)		-			-			(37,252,869	)
Payments on note payable - related party		(180,850	)		-			-			(180,850	)
Payments on insurance premium note payment		(3,001,805	)		-			-			(3,001,805	)
Proceeds from construction note payable		-			-			-			-
Payments on construction note payable		(181,639	)		-			-			(181,639	)
Preferred stock dividends paid		(2,194,792	)		-			-			(2,194,792	)
Common stock repurchase plan		(2,152,080	)		-			-			(2,152,080	)
Net cash used in financing activities		(7,711,166	)		-			-			(7,711,166	)

Net increase/(decrease) in cash		15,045,841			-			-			15,045,841
Cash, beginning of period		39,134,027			-			-			39,134,027
Restricted cash, beginning of period		500,000			-			-			500,000
Cash and restricted cash, end of period	$	54,679,868		$	-		$	-		$	54,679,868
Restricted cash, end of period	$	-		$	-		$	-		$	-
Cash, end of period	$	54,679,868		$	-		$	-		$	54,679,868