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DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE (Tables) | 3 Months Ended
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Jun. 30, 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 Three Months Ended June 30,
|  |  | 2025(1) |  |  | 2024 |  |
Net revenues(2) |  |  | $ | 752,762 |  |  | $ | 18,671,559 |  |
Cost of revenues |  |  |  | 1,599,202 |  |  |  | 19,431,459 |  |
Gross profit |  |  |  | (846,440 | ) |  |  | (759,900 | ) |
Operating expenses |  |  |  |  |  |  |  |
Selling and marketing |  |  |  | 15,819 |  |  |  | 215,209 |  |
Corporate general and administrative |  |  |  | 232,104 |  |  |  | 2,690,125 |  |
Employee salaries and related expenses |  |  |  | 84,502 |  |  |  | 471,729 |  |
Depreciation and amortization expense |  |  |  | - |  |  |  | 35,866 |  |
Total operating expenses |  |  |  | 332,425 |  |  |  | 3,412,929 |  |
Loss from operations |  |  |  | (1,178,865 | ) |  |  | (4,172,829 | ) |
Total other income/(expense) |  |  |  | 583,231 |  |  |  | (151,044 | ) |
Loss from discontinued operations before income taxes |  |  |  | (595,634 | ) |  |  | (4,323,873 | ) |
Benefit for income taxes |  |  |  | - |  |  |  | (1,560,923 | ) |
Loss from discontinued operations, net of tax |  |  | $ | (595,634 | ) |  | $ | (2,762,950 | ) |
(1) The three months ended June 30, 2025 reflects results from April 1 to April 18, 2025 only. (2) Included in revenue for the three months ended June 30, 2025 and 2024 are excise taxes of $27,185 and $1,303,603, respectively. There were no assets or liabilities classified as discontinued operations as of June 30, 2025. The following table summarizes the Ammunition segment assets and liabilities classified as discontinued operations in the accompanying condensed consolidated balance sheets:
|  | March 31, 2025 |
ASSETS |  |  |
Accounts receivable, net |  | $ | 8,778,545 |
Inventories |  |  | 21,520,796 |
Prepaid expenses |  |  | 198,379 |
Equipment, net |  |  | 25,983,100 |
Patents, net |  |  | 1,409,542 |
Total assets of discontinued operations |  | $ | 57,890,362 |
LIABILITIES |  |  |
Accounts payable |  | $ | 2,513,533 |
Accrued liabilities |  |  | 3,280,449 |
Current portion of construction note payable |  |  | 286,200 |
Construction note payable, net of unamortized issuance costs |  |  | 10,564,816 |
Total liabilities of discontinued operations |  | $ | 16,644,998 |

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