XML 46 R33.htm IDEA: XBRL DOCUMENT
v3.25.2

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Mar. 31, 2025
Income Tax Disclosure [Abstract] |
SCHEDULE OF INCOME TAX PROVISION BENEFIT | The income tax (provision) benefit for the periods shown consist of the following:
|  | 2025 |  |  | 2024 |  |  | 2023 |
Current |  |  |  |  |  |  |  |  |
US Federal |  | $ | - |  |  | $ | - |  |  | $ | — |
US State |  |  | - |  |  |  | - |  |  |  | — |
Total current provision |  |  | - |  |  |  | - |  |  |  | — |
Deferred |  |  |  |  |  |  |  |  |
US Federal |  |  | (5,601,975 | ) |  |  | (718,757 | ) |  |  | (1,152,032 | )
US State |  |  | (1,556,266 | ) |  |  | (229,535 | ) |  |  | (195,023 | )
Total deferred benefit |  |  | (7,158,241 | ) |  |  | (948,292 | ) |  |  | (1,347,055 | )
Change in valuation allowance |  |  | 13,444,546 |  |  |  | - |  |  |  | — |
Income tax (provision) benefit |  | $ | 6,286,305 |  |  | $ | (948,292 | ) |  | $ | (1,347,055 | )
SCHEDULE OF RECONCILIATION OF INCOME TAX | The reconciliation of income tax expense computed at the U.S. federal statutory rate of 21% to the income tax provision is as follows:
|  | 2025 |  |  |  | 2024 |  |  |  | 2023 |  |
U.S. Federal |  |  | 21.0 |  | % |  |  | 21.0 |  | % |  |  | 21.0 |  | %
State taxes, net of Federal income tax benefit |  |  | 5.5 |  | % |  |  | 5.6 |  | % |  |  | 6.0 |  | %
Change in valuation allowance |  |  | (11.5 | ) | % |  |  | 0.0 |  | % |  |  | 0.0 |  | %
Employee stock awards |  |  | 0.1 |  | % |  |  | (7.4 | ) | % |  |  | (33.3 | ) | %
Equity issuance costs |  |  | 0.0 |  | % |  |  | 0.0 |  | % |  |  | 0.0 |  | %
Stock and warrants on note conversion |  |  | 0.0 |  | % |  |  | 0.0 |  | % |  |  | (1.9 | ) | %
Stock for services |  |  | 0.0 |  | % |  |  | 0.0 |  | % |  |  | 0.0 |  | %
Non-deductible meals and entertainment |  |  | 0.0 |  | % |  |  | (0.1 | ) | % |  |  | (0.4 | ) | %
Contingent consideration fair value |  |  | 0.0 |  | % |  |  | 0.1 |  | % |  |  | 0.2 |  | %
Return to provision |  |  | 0.0 |  | % |  |  | 0.0 |  | % |  |  | 0.0 |  | %
Other |  |  | 0.0 |  | % |  |  | (0.4 | ) | % |  |  | (0.3 | ) | %
Total provision for income taxes |  |  | 15.2 |  | % |  |  | 18.7 |  | % |  |  | (8.8 | ) | %
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES | Significant components of the Company’s deferred tax liabilities and assets are as follows:
|  | As of March 31, |
|  | 2025 |  |  | 2024 |
Deferred tax assets |  |  |  |  |  |
Net operating loss carryforward |  | $ | 16,557,351 |  |  | $ | 5,229,409 |
Loss on purchase |  |  | 2,213,969 |  |  |  | 2,215,611 |
Impairment - Ammunition segment |  |  | 12,398,990 |  |  |  | - |
Inventory capitalization - Section 263A |  |  | 472,665 |  |  |  | 1,001,457 |
Bad debt allowance |  |  | 1,045,220 |  |  |  | 973,565 |
Legal reserve settlement |  |  | 7,978,747 |  |  |  | - |
Non qualified stock compensation expense |  |  | 1,154,090 |  |  |  | - |
Other timing differences |  |  | 481,036 |  |  |  | 297,195 |
Total deferred tax assets |  | $ | 42,302,068 |  |  | $ | 9,717,237 |
Deferred tax liabilities |  |  |  |  |  |
Depreciation expense |  | $ | (3,523,690 | ) |  | $ | (3,580,271 | )
Change in estimate and accounting method |  |  | (699,392 | ) |  |  | (699,910 | )
Amortization - intangible assets |  |  | (2,114,232 | ) |  |  | (1,029,565 | )
Total deferred tax liabilities |  |  | (6,337,314 | ) |  |  | (5,309,746 | )
Net deferred tax asset |  | $ | 35,964,754 |  |  | $ | 4,407,491 |
Valuation allowance |  |  | (35,964,754 | ) |  |  | - |
Net deferred tax asset |  | $ | - |  |  | $ | 4,407,491 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration