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DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE (Tables) | 12 Months Ended
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Mar. 31, 2025
Discontinued Operations and Disposal Groups [Abstract] |
SCHEDULE OF AMMUNITION SEGMENT DISCONTINUED OPERATIONS | The following table summarizes the results of operations of the Ammunition segment that are being reported as discontinued operations:
|  |  | For the Year Ended March 31, |
|  |  | 2025 |  |  | 2024 |  |  | 2023 |
Net revenues(1) |  |  | $ | 74,867,419 |  |  | $ | 91,112,496 |  |  | $ | 128,290,128 |
Cost of revenues |  |  |  | 83,079,531 |  |  |  | 94,818,546 |  |  |  | 126,961,549 |
Gross profit |  |  |  | (8,212,112 | ) |  |  | (3,706,050 | ) |  |  | 1,328,579 |
Operating expenses |  |  |  |  |  |  |  |  |  |
Selling and marketing |  |  |  | 1,296,141 |  |  |  | 1,179,659 |  |  |  | 2,542,074 |
Corporate general and administrative |  |  |  | 8,553,708 |  |  |  | 6,146,966 |  |  |  | 6,014,380 |
Employee salaries and related expenses |  |  |  | 2,610,046 |  |  |  | 1,636,496 |  |  |  | 2,008,625 |
Depreciation and amortization expense |  |  |  | 35,866 |  |  |  | 508,485 |  |  |  | 578,326 |
Total operating expenses |  |  |  | 12,495,761 |  |  |  | 9,471,606 |  |  |  | 11,143,405 |
Loss from operations |  |  |  | (20,707,873 | ) |  |  | (13,177,656 | ) |  |  | (9,814,826 | )
Total other income/(expense) |  |  |  | (617,756 | ) |  |  | (923,603 | ) |  |  | (515,207 | )
Impairment of assets |  |  |  | (45,847,430 | ) |  |  | - |  |  |  | - |
Loss from discontinued operations before income taxes |  |  |  | (67,173,059 | ) |  |  | (14,101,259 | ) |  |  | (10,330,033 | )
Provision (benefit) for income taxes |  |  |  | (1,560,922 | ) |  |  | (2,857,826 | ) |  |  | 2,059,294 |
Loss from discontinued operations, net of tax |  |  | $ | (65,612,137 | ) |  | $ | (11,243,433 | ) |  | $ | (12,389,327 | )
(1) Included in revenue for the years ended March 31, 2025, 2024 and 2023 are excise taxes of $4,972,452, $6,155,524 and $9,789,897, respectively. The following table summarizes the Ammunition segment assets and liabilities classified as held for sale in the accompanying consolidated balance sheets:
|  | March 31, 2025 |  |  | March 31, 2024 |
ASSETS |  |  |  |  |  |
Accounts receivable, net |  | $ | 8,778,545 |  |  | $ | 17,424,888 |
Inventories |  |  | 21,520,796 |  |  |  | 45,563,334 |
Prepaid expenses |  |  | 198,379 |  |  |  | 658,946 |
Equipment, net |  |  | 25,983,100 |  |  |  | 53,544,002 |
Deposits |  |  | - |  |  |  | 322,034 |
Patents, net |  |  | 1,409,542 |  |  |  | 4,756,006 |
Other intangible assets, net |  |  | - |  |  |  | 35,866 |
Total assets held for sale |  | $ | 57,890,362 |  |  | $ | 122,305,076 |
LIABILITIES |  |  |  |  |  |
Accounts payable |  | $ | 2,513,533 |  |  | $ | 7,528,186 |
Accrued liabilities |  |  | 3,280,449 |  |  |  | 4,211,248 |
Current portion of construction note payable |  |  | 286,200 |  |  |  | 273,459 |
Contingent consideration payable |  |  | - |  |  |  | 59,838 |
Construction note payable, net of unamortized issuance costs |  |  | 10,564,816 |  |  |  | 10,735,241 |
Total liabilities held for sale |  | $ | 16,644,998 |  |  | $ | 22,807,972 |

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