AMMO (POWW) 10-Q/A 3 Nov 17 2017 Q1 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 15, 2017
Document And Entity Information
Entity Registrant Name	AMMO, INC.
Entity Central Index Key	1,015,383
Document Type	10-Q/A
Document Period End Date	Mar. 31, 2017
Amendment Flag	true
Amendment Description	Ammo, Inc., (the "Company"), is restating its balance sheet as of March 31, 2017, and the income statement, statement of cash flow, and statement of stockholder's (deficit) equity for the period ended March 31, 2017. The Company has added footnote 9 to its financial statements showing the previously filed financial statements, the restatement adjustment and as restated columns for the restated financial statements.
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer	No
Is Entity a Voluntary Filer	No
Is Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		17,976,171
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,017

BALANCE SHEETS (Unaudited)

BALANCE SHEETS (Unaudited) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash	$ 100,135	$ 10,116
Accounts receivable	16,419	0
Other receivables	23,276	0
Vendor notes receivable, net of allowance for doubtful collection of $360,993	0	2,585,000
Vendor advances receivable	0	89,934
Inventories, at lower cost or market, principally average cost method	1,493,872	219,105
Prepaid expenses	170,834	0
Total current assets	1,804,536	2,904,155
Equipment, net of accumulated depreciation of $13,500	565,582	0
Other Assets:
Licensing agreement, net of $6,250 of accumulated amortization in 2017	118,750	125,000
Goodwill	0	0
TOTAL ASSETS	2,488,868	3,029,155
Current liabilities:
Accounts payable	331,790	57,995
Accounts payable - related parties	66,383	0
Accrued liabilities	86,785	0
Convertible note payable, net of debt discount of $356,250 in 2016	1,875,000	1,518,750
Note payable - related party	598,000	960,000
Insurance premium note payable	101,433	0
Total current liabilities	3,059,391	2,536,745
Stockholders' Equity (Deficit):
Common Stock, $0.001 par value, 100,000,000 shares authorized 17,976,175 and 15,754,000 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively	17,976	15,754
Additional paid-in capital	2,087,333	799,180
Stock subscription receivable	0	(167,500)
Accumulated (Deficit)	(2,675,832)	(155,024)
Total Stockholders' Equity (Deficit)	(570,523)	492,410
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 2,488,868	$ 3,029,155

BALANCE SHEETS (Unaudited) (Par

BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful collection		$ 360,993
Accumulated depreciation	$ 13,500
Accumulated amortization	$ 6,250
Debt discount		$ 356,250
Common stock - par value	$ 0.001	$ 0.001
Common stock - shares authorized	100,000,000	100,000,000
Common stock - shares issued	17,976,175	15,754,000
Common stock - shares outstanding	17,976,175	15,754,000

STATEMENT OF OPERATIONS (Unaudi

STATEMENT OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Gross Sales	$ 653,784	$ 0
Customer incentives, discounts, returns, and allowances	0	0
Net sales	653,784	0
Cost of Goods Sold, includes depreciation and amortization of $19,421 for the three months ended March 31, 2017	474,890	0
Gross Margin	178,894	0
Operating Expenses
Selling and marketing	116,833	0
Corporate general and administrative	578,402	0
Employee salaries and related expenses	167,987	0
Depreciation expense	379	0
Total operating expenses	863,601	0
Loss from Operations	(684,707)	0
Other Income (Expenses)
Loss on vendor notes receivable collectibility	1,414,921	0
Interest expense	421,180	0
Profit (Loss) before Income Taxes	(2,520,808)	0
Provision for Income Taxes	0	0
Net Profit (Loss)	$ (2,520,808)	$ 0
Loss per share
Weighted average shares outstanding: Basic and Diluted	17,118,431	0
Loss per share: Basic and Diluted	$ (0.15)	$ 0

STATEMENT OF OPERATIONS (Unaud5

STATEMENT OF OPERATIONS (Unaudited) (Parenthetical)	3 Months Ended
	Mar. 31, 2017USD ($)
Income Statement [Abstract]
Depreciation and amortization	$ 19,421

STATEMENT OF STOCKHOLDERS' EQUI

STATEMENT OF STOCKHOLDERS' EQUITY (Unaudited) - 3 months ended Mar. 31, 2017 - USD ($)	Common Stock	Additional Paid-In Capital	Preferred Shares	Subscription Receivable	Accumulated (Deficit)	Total
Beginning Balance, Shares at Dec. 31, 2016	15,754,000					15,754,000
Beginning Balance, Amount at Dec. 31, 2016	$ 15,754	$ 799,180		$ (167,500)	$ (155,024)	$ 492,410
Reverse merger and recapitalization, Shares	601,375
Reverse merger and recapitalization Amount	$ 601	(601)
Subscriptions collected				167,500		167,500
Common stock issued as founder shares, Shares	625,000
Common stock issued as founder shares, Amount	$ 625					625
Common stock issued for cash , Shares	946,200
Common stock issued for cash, Amount	$ 946	1,181,804				1,182,750
Organizational and fund raising costs		(17,000)				(17,000)
Common stock issued for payment of legal fees, Shares	49,600
Common stock issued for payment of legal fees, Amount	$ 50	123,950				124,000
Net loss for period ended					(2,520,808)	$ (2,520,808)
Ending Balance, Shares at Mar. 31, 2017	17,976,175					17,976,175
Ending Balance, Amount at Mar. 31, 2017	$ 17,976	$ 2,087,333			$ (2,675,832)	$ (570,523)

STATEMENTS OF CASH FLOW (Unaudi

STATEMENTS OF CASH FLOW (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net (Loss)	$ (2,520,808)	$ 0
Adjustments to reconcile Net (Loss) to Net Cash provided by operations:
Debt discount amortization	356,250	0
Depreciation and amortization	19,800	0
Common stock issued for legal fees	124,000	0
Uncollectible vendor notes receivable	1,414,921	0
Changes in Current Assets and Liabilities
Vendor advances receivable	186,486	0
Accounts receivable	4,546	0
Other receivables	(2,465)	0
Inventories	(765,320)	0
Prepaid expenses	9,927	0
Accounts payable	252,984	0
Accounts payable - related parties	66,383	0
Accrued liabilities	86,785	0
Net cash used in operating activities	(766,511)	0
Cash flows from investing activities:
Purchase of equipment	(36,017)	0
Net cash used in investing activities	(36,017)	0
Cash flows from financing activities:
Note payments - related party	(362,000)	0
Insurance premium note payments	(79,328)	0
Sale of common stock	1,350,875	0
Organization and fund raising costs	(17,000)	0
Net cash provided by financing activities	892,547	0
Net increase in cash	90,019	0
Cash, beginning of period	10,116	0
Cash, end of period	100,135	0
Supplemental cash flow disclosures
Cash paid during the period for Interest	1,297	0
Cash paid during the period for Income taxes	0	0
Vendor note receivable foreclosure
Vendor notes receivable	1,170,079	0
Vendor advances receivable	(96,552)	0
Accounts receivable	(20,965)	0
Inventories	(509,447)	0
Equipment	(543,115)	0
Goodwill	0	0
Other receivables	(20,811)	0
Accounts payable	20,811	0
Insurance premium note payable	180,761	0
Prepaid expenses	(180,761)	0
Common stock	601	0
Additional paid-in-capital	$ (601)	$ 0

ORGANIZATION AND BUSINESS ACTIV

ORGANIZATION AND BUSINESS ACTIVITY	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BUSINESS ACTIVITY	NOTE 1 – ORGANIZATION AND BUSINESS ACTIVITY ORGANIZATION AND BUSINESS Ammo, Inc. (formerly Retrospettiva, Inc.) (The "Company") was organized under the laws of the State of California in November, 1990 to manufacture and import textile products, including both finished garments and fabrics. The Company's manufacturing facilities and inventories were primarily located in Europe. The Company ceased operations in 2001 and has been inactive since 2002. Effective August 2, 2004, the Company was terminated, by administrative action of the State of California as a result of non-filing of required documents with the State of California. Effective February 15, 2007, the Company reinstated its charter. The Company was again terminated and then reinstated effective December 2016. Effective October 11, 2006, efforts commenced to revive the Company. Legal counsel was hired to address litigation involving the Company and activities were undertaken to prepare and file delinquent tax and financial reports. Furthermore, a financial judgment against the Company dating back to 2002 was addressed and a final settlement was reached in October 2007. The Company filed various delinquent reports to become current in its reporting obligations to the Securities and Exchange Commission ("SEC") and various taxing authorities. On December 15, 2016, the Company's majority shareholders sold 475,681 (11,891,976 pre-split) of their outstanding shares to an individual resulting in a change in control of the Company. On December 15, 2016, the Company accepted the resignation of Borivoje Vukadinovic as the sole officer and as a member of the Company's Board of Directors. On December 15, 2016, Mr. Fred W. Wagenhals ("Mr. Wagenhals") was appointed as sole officer and the sole member of the Company's Board of Directors. On December 15, 2016, the Company's sole director, in conjunction with the corporate actions referenced herein approved the following: (i) to change its name to AMMO, Inc., and (ii) a change to the Company's OTC trading symbol. On December 15, 2016, the Company's sole director approved a 1-for-25 reverse stock split ("Reverse Split") of the issued and outstanding shares of common stock of the Company. As a result of the reverse split, the current 14,425,903 issued and outstanding shares of common stock shall represent 580,052 post reverse split shares; no shareholder shall be reversed below 100 shares and any and all fractional shares resulting from the reverse split shall be rounded up to the next whole share. All references to the outstanding stock have been retrospectively adjusted to reflect this split. On December 15, 2016, the Company's sole director approved an agreement and plan of merger to re-domicile and change the Company's state of incorporation from California to the State of Delaware and to carry out a continuance of the Company from the State of California to the State of Delaware. On December 30, 2016, we filed articles of merger with the California Secretary of State to effect the domicile change to the State of Delaware and we filed a Certificate of Merger with the Delaware Secretary of State to effect the domicile change to the State of Delaware. In conjunction with the domicile change, our director adopted a new certificate of incorporation under the laws of the State of Delaware to increase our authorized number of shares of common stock from 15,000,000 to 100,000,000 shares of common stock, with a par value of $0.001. On March 17, 2017, AMMO, Inc,(formerly known as Retrospettiva, Inc.), a Delaware corporation (the PUBCO), entered into a definitive agreement with AMMO, Inc., a Delaware Corporation (PRIVCO) under which (PUBCO) acquired all of the outstanding shares of common stock of (PRIVCO). Under the terms of the Agreement, (PUBCO) purchased (PRIVCO) for 17,285,800 newly issued shares of common stock of the company. In connection with this transaction the Company retired 475,681 shares of common stock and issued 500,000 shares of common stock to satisfy a issuance liability. After the acquisition, all company operations were that of AMMO, Inc. the (PRIVCO). The merger of AMMO, Inc. into (PUBCO) was considered to be a capital transaction. The transaction was the equivalent to the issuance by AMMO, Inc. (PRIVCO) of 604,371 shares to the Company (PUBCO) accompanied by a recapitalization. The weighted average number of outstanding shares has been adjusted for the merger transaction. Ammo, Inc. is a designer, manufacturer and marketer of performance-driven, high-quality and innovative ammunition products, in the sporting industry in the United States. To maintain the strength of our brands and drive strong revenue growth, we invest in product innovation and technology to improve product performance, quality and affordability while providing great support to our retail partners and our consumers. Jesse James ("JJ") is a well-known motorcycle and gun designer and is the controlling principal of Jesse James Firearms Unlimited, LLC, ("JJFU") a Texas limited liability company. Jesse James' name, endorsements and services have commercial value to the Company; therefore, on October 15, 2016, Ammo entered into a licensing agreement with JJ and JJFU. The licensing agreement includes, among others, the following provisions: · The term of the agreement commenced on October 15, 2016. Ammo was granted exclusive worldwide rights to JJ's image rights and any and all trademarks associated with JJ in connection with the marketing, promoting, advertising, sale and commercial exploitation of the Jesse James Branded Products ("Branded Products"). · Jesse James agreed to make himself available for certain promotional activities and to promote Branded Products through his own social media outlets. Ammo will reimburse JJ for any out-of-pocket expenses and reasonable travel expenses. · JJ was issued 100,000 shares of the Company's common stock upon execution of the licensing agreement and can earn an additional 75,000 shares of common stock if certain gross sales are achieved ($15,000,000 gross sales to receive the total 75,000 shares). The 100,000 shares of common stock were valued at $1.25 per share and the $125,000 was recognized as an asset and will be amortized over the initial sixty (60) month term of the licensing agreement. · Ammo agreed to pay JJ various royalty fees on the sale of ammunition and non-ammunition Branded Products. On November 21, 2016, Ammo completed and filed with the Federal Bureau of Alcohol Tobacco, Firearms and Explosives an "Application for Federal Firearms License" for the manufacture and importation of ammunition and firearms. On February 1 st the Federal Bureau of Alcohol Tobacco, Firearms and Explosives approved that application and issued to Ammo Federal Firearms Licenses for the manufacture and importation of ammunition and firearms. The licenses are effective until February 1 st , 2020. The Company began selling The Jessie James ammunition line February 22, 2017.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ACCOUNTING BASIS The accompanying financial statements are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and reflect all adjustments, which consist solely of normal recurring adjustments, needed to fairly present the financial results for these periods. The financial statements and notes thereto are presented as prescribed by Form 10-Q. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted. The accompanying financial statements should be read in conjunction with the financial statements for the fiscal year ended December 31, 2016 and notes thereto in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2016, filed with the Securities and Exchange Commission and with financials statements included in Form 8-K filed on March 23, 2017. Operating results for the three months ended March 31, 2017 are not necessarily indicative of the results that may be expected for the entire fiscal year. In the opinion of management, all adjustments have been made, which consist only of normal recurring adjustments necessary for a fair statement of (a) the results of operations for the three-month period ended March 31, 2017, (b) the financial position at March 31, 2017 and (c) cash flows for the three-month period ended March 31, 2017. These financial statements have been prepared in accordance with accounting principles generally accepted in the United States applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The Company has not generated significant revenues to date and consequently its operations are subject to all risks inherent in the establishment of a new business enterprise. For the period from inception, October 13, 2016, through March 31, 2017 the Company has accumulated losses of $2,675,832. Management's plan is to have the Company fully operational in the coming year with substantial sales. Management will continue to raise capital through the sale of equity and/or debt financing as required but there is no certainty that such financing will be available at acceptable terms. These financial statements do not include any adjustments to reflect the future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that might result from the outcome of this uncertainty. USE OF ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management has used estimates in order to determine the timing and collections of the vendor notes receivable. CASH AND CASH EQUIVALENTS For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents. INVENTORIES Inventories are carried at the lower of cost or market, as determined by the average cost method and is periodically evaluated for obsolescence.\ LICENSING AGREEMENT The Company issued 100,000 shares of its common stock at the execution date of the licensing agreement with Jesse James. The shares were valued at $1.25 and the aggregate value of $125,000 was recorded as a licensing agreement asset. This asset will be amortized from January, 2017, the period when the first ammunition was delivered, through September 11, 2021. Amortization of the Licensing Agreement for the three months ended March 31, 2017 was $6,250. IMPAIRMENT OF LONG-LIVED ASSETS The Company continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell. REVENUE RECOGNITION Revenue is recognized when the earnings process is complete and the risk and rewards of ownership have transferred to the customer, which is generally considered to have occurred upon the receipt of product by the customer. The earnings process is complete once the customer order has been placed and approved, the product shipped has been received by the customer, and there is reasonable assurance of the collection of the sales proceeds. ADVERTISING COSTS The Company expenses advertising costs as they are incurred. During the quarter, the Company incurred selling costs of $28,867. FAIR VALUE OF FINANCIAL INSTRUMENTS ASC 825, "Disclosures about Fair Value of Financial Instruments", requires disclosure of fair value information about financial instruments. ASC 820, "Fair Value Measurements" defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of March 31, 2017. The carrying value of cash, accounts payable and notes payable approximate their fair value due to the short term of these instruments. The three levels are defined as follows: Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for the identical assets or liabilities in active markets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 inputs to valuation methodology are unobservable and significant to the fair measurement. There was no Fair Value transaction for the three months ended March 31, 2017. STOCK-BASED COMPENSATION Stock-based compensation is accounted for at fair value in accordance with SFAS No. 123 and 123 (R) (ASC 718). To date, the Company has not adopted a stock option plan and has not granted any stock options. As of March 31, 2017, the Company has not issued any stock-based payments to its employees. INCOME TAXES The Company utilizes the liability method of accounting for income taxes. Under the liability method deferred tax assets and liabilities are determined based on the differences between financial reporting basis and the tax basis of the assets and liabilities and are measured using enacted tax rates and laws that will be in effect, when the differences are expected to reverse. An allowance against deferred tax assets is recognized, when it is more likely than not, that such tax benefits will not be realized. Any deferred tax asset is considered immaterial and has been fully offset by a valuation allowance because at this time the Company believes that it is more likely than not that the future tax benefit will not be realized as the Company has no current operations. CONCENTRATIONS OF CREDIT RISK Accounts at banks are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. As of March 31, 2017, account balances did not exceed federally insured limits. RECENT ACCOUNTING PRONOUNCEMENTS The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations. LOSS PER COMMON SHARE Basic loss per share is calculated using the weighted-average number of common shares outstanding during each reporting period. Diluted loss per share includes potentially dilutive securities such as outstanding options and warrants, using various methods such as the treasury stock or modified treasury stock method in the determination of dilutive shares outstanding during each reporting period. The Company does not have any potentially dilutive instruments. All weighted average numbers were adjusted for the reverse stock split and merger transaction.

VENDOR NOTES RECEIVABLE

VENDOR NOTES RECEIVABLE	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
VENDOR NOTES RECEIVABLE	NOTE 3 – VENDOR NOTES RECEIVABLE Vendor note receivable is composed of the following at December 31, 2016: Advanced Tactical Armament Concepts, L.L.C. Notes Payable Purchased by Ammo Amount Western Alliance Bank $ 1,910,993 Less: Allowance for uncollectible amounts (360,993 ) 1,550,000 Mansfield, LLC 1,035,000 $ 2,585,000 On October 24, 2016, Ammo entered into an agreement to purchase from Western Alliance Bank a note payable by Advanced Tactical Armament Concepts, L.L.C. ("ATAC"), which had an outstanding balance of $1,910,993 for $1,550,000, the amount which management has determined to be the asset's fair value on the date of the purchase. The loan is secured by a master lease agreement (ATAC's manufacturing equipment), all assets of ATAC, and loan guarantees from the principal owners of ATAC. Ammo's management determined that the value of the purchased note was the value paid to Western Alliance Bank. This promissory note held by Ammo, Inc., between ATAC and Western Alliance Bank was due in full on or before February 28, 2017. In October and November 2016, Mansfield L.L.C. ("Mansfield"), a related party, loaned ATAC an original principal of $900,000 and ATAC executed a promissory note payable for that amount. The note payable was secured by all of the assets of ATAC. On December 16, 2016, Ammo and Mansfield entered into a note purchase and sale agreement. Ammo purchased the promissory note for $1,035,000 and assumed Mansfield's collateral position. The Managing Member of Mansfield is related to the President of Ammo. The $1,035,000 was payable on or before the closing date of the note purchase and sale agreement. On February 20, 2017, a sale was held for the disposition of collateral for Advanced Tactical Armament Concepts, LLC, a Nevada Limited Liability Company. The Company was a secured party and submitted a credit bid. The Company's bid for the sale for the disposition of collateral was the highest and was accepted. The company reflected this transaction in the following manner: Vendor notes receivable $ 2,585,000 Vendor advances receivable (96,552 ) Accounts receivable (20,965 ) Inventories (509,447 ) Equipment (543,115 ) Loss on uncollectible vendor notes (1,414,921 ) $ -

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
INVENTORIES	NOTE 4 – INVENTORIES At March 31, 2017 and December 31, 2016 the inventory balances are composed of: 2017 2016 Finished product $ 319,380 $ - Raw materials 958,398 219,105 Work in process 216,094 - $ 1,493,872 $ 219,105

CONVERTIBLE NOTE PAYABLE

CONVERTIBLE NOTE PAYABLE	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
CONVERTIBLE NOTE PAYABLE	NOTE 5 – CONVERTIBLE NOTE PAYABLE The Company entered into an agreement for a short-term convertible note payable to an unrelated party on December 22, 2016 with sixty (60) days maturity and a $1,500,000 principal balance. The note has a one-time fee of $375,000, which was amortized, as interest, ratably over the sixty (60) day period. The note is convertible into one share of the Company's common stock and one stock purchase warrant at a conversion price of $1.25 per unit. Each warrant has an exercise price of $2.50. As of March 31, 2017, the note has not been repaid or converted to equity. Amortization of the fee was $356,250 for the three months ended March 31, 2017.

NOTE PAYABLE - RELATED PARTY

NOTE PAYABLE - RELATED PARTY	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
NOTE PAYABLE - RELATED PARTY	NOTE 6 – NOTE PAYABLE – RELATED PARTY On December 16, 2016, Ammo and Mansfield entered into a note purchase and sale agreement to purchase a promissory note held by Mansfield, and payable by ATAC. Ammo purchased the promissory note for $1,035,000. The Managing Member of Mansfield is related to the President of Ammo. The $1,035,000 was payable on or before the closing date of the note purchase and sale agreement, however, as of March 31, 2017, only $437,000 of the note balance had been paid, leaving a liability of $598,000 payable to Mansfield.

CAPITAL STOCK

CAPITAL STOCK	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
CAPITAL STOCK	NOTE 7 - CAPITAL STOCK The authorized capital of the Company is 100,000,000 common shares with a par value of $0.001 per share. During the period from January 1, 2017 to March 31, 2017, the Company sold 946,200 shares of its common stock for $1.25 per share and collected proceeds of $1,182,750 and issued 49,600 shares of its common stock for $2.50 per share in exchange for legal services invoiced in the amount of $124,000.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8 - SUBSEQUENT EVENTS Subsequent to March 31, 2017 through the date these financials were available for issuance, the Company sold an additional 252,500 shares of common stock and issued 252,500 common stock purchase warrants for $315,625 The Company evaluated subsequent events through May 15, 2017, the date the financial statements were issued, and determined that there are not any other items to disclose.

RESTATEMENT

RESTATEMENT	3 Months Ended
	Mar. 31, 2017
Accounting Changes and Error Corrections [Abstract]
RESTATEMENT	NOTE 9 – RESTATEMENT The Company is restating its balance sheet as of March 31, 2017, and the income statement, statement of cash flow, and statement of stockholder’s equity (deficit) for the period ended March 31, 2017. The restatement shows the previously filed financial statements, the restatement adjustment and as restated columns for the balance sheet as of March 31, 2017, and the income statement, statement of cash flow, and statement of stockholder’s equity (deficit) for the period ended March 31, 2017. On February 20, 2017, the Company foreclosed on collateral securing a note owed to the Company by Advanced Tactical Armament Concepts, LLC, a Nevada Limited Liability Company. The fair market value of the foreclosed assets was less than the balance due on the note. The difference was originally recorded as goodwill and the Company has now revised that treatment to record the uncollectible difference as a loss. The following table represents the balance sheet as previously reported, restatement adjustment, and as restated as of March 31, 2017: Restatement As Previously Filed Adjustment As Restated (Unaudited) (Unaudited) ASSETS Current Assets: Cash $ 100,135 $ 100,135 Accounts receivable 16,419 16,419 Other receivables 23,276 23,276 Vendor notes receivable, net of allowance for doubtful - - collection of $360,993 - - Vendor advances receivable - - Inventories, at lower cost or market, principally average cost method 1,493,872 1,493,872 Prepaid expense 170,834 170,834 Total Current Assets 1,804,536 - 1,804,536 Equipment, 218,739 346,843 565,582 Other Assets: - - Licensing agreement, net of $6,250 of accumulated amortization in 2017 118,750 118,750 Goodwill 1,770,221 (1,770,221 ) - TOTAL ASSETS $ 3,912,246 $ (1,423,378 ) $ 2,488,868 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current Liabilities: Accounts payable $ 331,790 $ 331,790 Accounts payable - related parties 66,383 66,383 Accrued liabilities 86,785 86,785 Convertible note payable, net of debt discount of $356,250 in 2016 1,875,000 1,875,000 Note payable - related party 598,000 598,000 Insurance premium note payable 101,433 101,433 Total Current Liabilities 3,059,391 - 3,059,391 Stockholders' Equity (Deficit): Common Stock, $0.001 par value, 100,000,000 shares authorized 17,976,175 and 15,754,000 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively 17,976 17,976 Additional paid-in capital 2,087,333 2,087,333 Stock subscription receivable - - Accumulated (Deficit) (1,252,454 ) (1,423,378 ) (2,675,832 ) Total Stockholders' Equity (Deficit) 852,855 (1,423,378 ) (570,523 ) TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 3,912,246 $ (1,423,378 ) $ 2,488,868 The following table represents the income statement as previously reported, restatement adjustment, and as restated as of March 31, 2017: Restatement As Previously Filed Adjustment As Restated Gross Sales $ 653,784 $ 653,784 Customer incentives, discounts, returns, and allowances - - Net sales 653,784 - 653,784 Cost of Goods Sold, includes depreciation and amortization of $18,920 for the three months ended March 31, 2017 466,433 8,457 474,890 Gross Margin 187,351 (8,457 ) 178,894 Operating Expenses Selling and marketing 116,833 116,833 Corporate general and administrative 578,402 578,402 Employee salaries and related expenses 167,987 167,987 Depreciation expense 379 379 Total operating expenses 863,601 - 863,601 Loss from Operations (676,250 ) (8,457 ) (684,707 ) Other Income (Expenses) Loss on vendor notes receivable collectibility - 1,414,921 1,414,921 Interest expense 421,180 421,180 Profit (Loss) before Income Taxes (1,097,430 ) (1,423,378 ) (2,520,808 ) Provision for Income Taxes Net Profit (Loss) $ (1,097,430 ) $ (1,423,378 ) $ (2,520,808 ) Loss per share Basic and fully diluted: Weighted average number of shares outstanding 17,118,431 17,118,431 17,118,431 Loss per share $ (0.06 ) $ (0.09 ) $ (0.15 ) The following table represents the statement of stockholder’s equity (deficit) as previously reported, and as restated as of March 31, 2017: Common Shares Additional Paid-In Preferred Subscription Accumulated Number Par Value Capital Shares Receivable (Deficit) Total Balance as of January 1, 2017 15,754,000 $ 15,754 $ 799,180 $ (167,500 ) $ (155,024 ) $ 492,410 Reverse merger and recapitalization 601,375 601 (601 ) 0 Subscriptions collected 167,500 167,500 Common stock issued for founder shares 625,000 625 - 625 Common stock issued for cash $1.25 per share 946,200 946 1,181,804 1,182,750 Organizational and fund raising costs - - (17,000 ) (17,000 ) Common stock issued for payment of legal fees $2.50 per share 49,600 50 123,950 124,000 Net loss for period ended March 31, 2017 (Restated) - - - - - (2,520,808 ) (2,520,808 ) Balance as of March 31, 2017 (Restated) 17,976,175 $ 17,976 $ 2,087,333 $ - $ - $ (2,675,832 ) $ (570,523 ) The following table represents the statement of cash flow as previously reported, restatement adjustment, and as restated as of March 31, 2017: Restatement As Previously Filed Adjustment As Restated Cash flows from operating activities: Net (Loss) $ (1,097,430 ) $ (1,423,378 ) $ (2,520,808 ) Adjustments to reconcile Net (Loss) to Net Cash provided by operations: Debt discount amortization 356,250 - 356,250 Depreciation and amortization 11,343 8,457 19,800 Common stock issued for legal fees 124,000 - 124,000 Uncollectible vendor notes receivable - 1,414,921 1,414,921 Changes in Current Assets and Liabilities Vendor advances receivable 186,486 - 186,486 Accounts receivable 4,546 - 4,546 Other receivables (2,465 ) - (2,465 ) Inventories (765,320 ) - (765,320 ) Prepaid expenses 9,927 - 9,927 Accounts payable 252,984 - 252,984 Accounts payable 66,383 - 66,383 Accrued liabilities 86,785 - 86,785 Net cash used in operating activities (766,511 ) (766,511 ) Cash flows from investing activities Purchase of equipment (36,017 ) - (36,017 ) Net cash used in investing activities (36,017 ) - (36,017 ) Cash flow from financing activities Note payment - related party (362,000 ) - (362,000 ) Insurance premium note payments (79,328 ) - (79,328 ) Sale of common stock 1,350,875 - 1,350,875 Organization and fundraising costs (17,000 ) - (17,000 ) Net cash provided by financing activities 892,547 - 892,547 Net increase in cash 90,019 - 90,019 Cash, beginning of period 10,116 - 10,116 Cash, end of period $ 100,135 $ - $ 100,135 Supplemental cash flow disclosures Cash paid during the period for - Interest $ 1,297 $ - $ 1,297 Income taxes $ - $ - $ - Non-cash investing and financing activities: Vendor note receivable foreclosure - Vendor notes receivable $ 2,585,000 $ (1,414,921 ) $ 1,170,079 Vendor advances receivable (96,552 ) (96,552 ) Accounts receivable (20,965 ) (20,965 ) Inventories (509,447 ) (509,447 ) Equipment (187,815 ) (355,300 ) (543,115 ) Goodwill (1,770,221 ) 1,770,221 - Other receivables (20,811 ) (20,811 ) Accounts payable 20,811 20,811 Insurance premium note payable 180,761 180,761 Prepaid expenses (180,761 ) (180,761 ) Common stock 601 601 Additional paid-in-capital (601 ) (601 ) $ - $ - $ -

SUMMARY OF SIGNIFICANT ACCOUN17

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
ACCOUNTING BASIS	ACCOUNTING BASIS The accompanying financial statements are unaudited and have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") and reflect all adjustments, which consist solely of normal recurring adjustments, needed to fairly present the financial results for these periods. The financial statements and notes thereto are presented as prescribed by Form 10-Q. Accordingly, certain information and note disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted. The accompanying financial statements should be read in conjunction with the financial statements for the fiscal year ended December 31, 2016 and notes thereto in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2016, filed with the Securities and Exchange Commission and with financials statements included in Form 8-K filed on March 23, 2017. Operating results for the three months ended March 31, 2017 are not necessarily indicative of the results that may be expected for the entire fiscal year. In the opinion of management, all adjustments have been made, which consist only of normal recurring adjustments necessary for a fair statement of (a) the results of operations for the three-month period ended March 31, 2017, (b) the financial position at March 31, 2017 and (c) cash flows for the three-month period ended March 31, 2017. These financial statements have been prepared in accordance with accounting principles generally accepted in the United States applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The Company has not generated significant revenues to date and consequently its operations are subject to all risks inherent in the establishment of a new business enterprise. For the period from inception, October 13, 2016, through March 31, 2017 the Company has accumulated losses of $2,675,832. Management's plan is to have the Company fully operational in the coming year with substantial sales. Management will continue to raise capital through the sale of equity and/or debt financing as required but there is no certainty that such financing will be available at acceptable terms. These financial statements do not include any adjustments to reflect the future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that might result from the outcome of this uncertainty.
USE OF ESTIMATES	USE OF ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the balance sheet and reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Management has used estimates in order to determine the timing and collections of the vendor notes receivable.
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS For purposes of the statement of cash flows, the Company considers highly liquid financial instruments purchased with a maturity of three months or less to be cash equivalents.
INVENTORIES	INVENTORIES Inventories are carried at the lower of cost or market, as determined by the average cost method and is periodically evaluated for obsolescence.
LICENSING AGREEMENT	LICENSING AGREEMENT The Company issued 100,000 shares of its common stock at the execution date of the licensing agreement with Jesse James. The shares were valued at $1.25 and the aggregate value of $125,000 was recorded as a licensing agreement asset. This asset will be amortized from January, 2017, the period when the first ammunition was delivered, through September 11, 2021. Amortization of the Licensing Agreement for the three months ended March 31, 2017 was $6,250.
IMPAIRMENT OF LONG-LIVED ASSETS	IMPAIRMENT OF LONG-LIVED ASSETS The Company continually monitors events and changes in circumstances that could indicate carrying amounts of long-lived assets may not be recoverable. When such events or changes in circumstances are present, the Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Company recognizes an impairment loss based on the excess of the carrying amount over the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or the fair value less costs to sell.
REVENUE RECOGNITION	REVENUE RECOGNITION Revenue is recognized when the earnings process is complete and the risk and rewards of ownership have transferred to the customer, which is generally considered to have occurred upon the receipt of product by the customer. The earnings process is complete once the customer order has been placed and approved, the product shipped has been received by the customer, and there is reasonable assurance of the collection of the sales proceeds.
ADVERTISING COSTS	ADVERTISING COSTS The Company expenses advertising costs as they are incurred. During the quarter, the Company incurred selling costs of $28,867.
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS ASC 825, "Disclosures about Fair Value of Financial Instruments", requires disclosure of fair value information about financial instruments. ASC 820, "Fair Value Measurements" defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements. Fair value estimates discussed herein are based upon certain market assumptions and pertinent information available to management as of March 31, 2017. The carrying value of cash, accounts payable and notes payable approximate their fair value due to the short term of these instruments. The three levels are defined as follows: Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for the identical assets or liabilities in active markets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 inputs to valuation methodology are unobservable and significant to the fair measurement. There was no Fair Value transaction for the three months ended March 31, 2017.
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Stock-based compensation is accounted for at fair value in accordance with SFAS No. 123 and 123 (R) (ASC 718). To date, the Company has not adopted a stock option plan and has not granted any stock options. As of March 31, 2017, the Company has not issued any stock-based payments to its employees.
INCOME TAXES	INCOME TAXES The Company utilizes the liability method of accounting for income taxes. Under the liability method deferred tax assets and liabilities are determined based on the differences between financial reporting basis and the tax basis of the assets and liabilities and are measured using enacted tax rates and laws that will be in effect, when the differences are expected to reverse. An allowance against deferred tax assets is recognized, when it is more likely than not, that such tax benefits will not be realized. Any deferred tax asset is considered immaterial and has been fully offset by a valuation allowance because at this time the Company believes that it is more likely than not that the future tax benefit will not be realized as the Company has no current operations.
CONCENTRATIONS OF CREDIT RISK	CONCENTRATIONS OF CREDIT RISK Accounts at banks are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. As of March 31, 2017, account balances did not exceed federally insured limits.
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS The Company has implemented all new accounting pronouncements that are in effect and that may impact its financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.
LOSS PER COMMON SHARE	LOSS PER COMMON SHARE Basic loss per share is calculated using the weighted-average number of common shares outstanding during each reporting period. Diluted loss per share includes potentially dilutive securities such as outstanding options and warrants, using various methods such as the treasury stock or modified treasury stock method in the determination of dilutive shares outstanding during each reporting period. The Company does not have any potentially dilutive instruments. All weighted average numbers were adjusted for the reverse stock split and merger transaction.

VENDOR NOTES RECEIVABLE (Table)

VENDOR NOTES RECEIVABLE (Table)	3 Months Ended
	Mar. 31, 2017
Notes to Financial Statements
Vendor note receivable	Vendor note receivable is composed of the following at December 31, 2016: Advanced Tactical Armament Concepts, L.L.C. Notes Payable Purchased by Ammo Amount Western Alliance Bank $ 1,910,993 Less: Allowance for uncollectible amounts (360,993 ) 1,550,000 Mansfield, LLC 1,035,000 $ 2,585,000
Disposition of collateral	The company reflected this transaction in the following manner: Vendor notes receivable $ 2,585,000 Vendor advances receivable (96,552 ) Accounts receivable (20,965 ) Inventories (509,447 ) Equipment (543,115 ) Loss on uncollectible vendor notes (1,414,921 ) $ -

INVENTORIES (Table)

INVENTORIES (Table)	3 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Inventory	At March 31, 2017 and December 31, 2016 the inventory balances are composed of: 2017 2016 Finished product $ 319,380 $ - Raw materials 958,398 219,105 Work in process 216,094 - $ 1,493,872 $ 219,105

RESTATEMENT (Table)

RESTATEMENT (Table)	3 Months Ended
	Mar. 31, 2017
Accounting Changes and Error Corrections [Abstract]
Schedule of balance sheet	The following table represents the balance sheet as previously reported, restatement adjustment, and as restated as of March 31, 2017: Restatement As Previously Filed Adjustment As Restated (Unaudited) (Unaudited) ASSETS Current Assets: Cash $ 100,135 $ 100,135 Accounts receivable 16,419 16,419 Other receivables 23,276 23,276 Vendor notes receivable, net of allowance for doubtful - - collection of $360,993 - - Vendor advances receivable - - Inventories, at lower cost or market, principally average cost method 1,493,872 1,493,872 Prepaid expense 170,834 170,834 Total Current Assets 1,804,536 - 1,804,536 Equipment, 218,739 346,843 565,582 Other Assets: - - Licensing agreement, net of $6,250 of accumulated amortization in 2017 118,750 118,750 Goodwill 1,770,221 (1,770,221 ) - TOTAL ASSETS $ 3,912,246 $ (1,423,378 ) $ 2,488,868 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current Liabilities: Accounts payable $ 331,790 $ 331,790 Accounts payable - related parties 66,383 66,383 Accrued liabilities 86,785 86,785 Convertible note payable, net of debt discount of $356,250 in 2016 1,875,000 1,875,000 Note payable - related party 598,000 598,000 Insurance premium note payable 101,433 101,433 Total Current Liabilities 3,059,391 - 3,059,391 Stockholders' Equity (Deficit): Common Stock, $0.001 par value, 100,000,000 shares authorized 17,976,175 and 15,754,000 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively 17,976 17,976 Additional paid-in capital 2,087,333 2,087,333 Stock subscription receivable - - Accumulated (Deficit) (1,252,454 ) (1,423,378 ) (2,675,832 ) Total Stockholders' Equity (Deficit) 852,855 (1,423,378 ) (570,523 ) TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 3,912,246 $ (1,423,378 ) $ 2,488,868
Schedule of operations	The following table represents the income statement as previously reported, restatement adjustment, and as restated as of March 31, 2017: Restatement As Previously Filed Adjustment As Restated Gross Sales $ 653,784 $ 653,784 Customer incentives, discounts, returns, and allowances - - Net sales 653,784 - 653,784 Cost of Goods Sold, includes depreciation and amortization of $18,920 for the three months ended March 31, 2017 466,433 8,457 474,890 Gross Margin 187,351 (8,457 ) 178,894 Operating Expenses Selling and marketing 116,833 116,833 Corporate general and administrative 578,402 578,402 Employee salaries and related expenses 167,987 167,987 Depreciation expense 379 379 Total operating expenses 863,601 - 863,601 Loss from Operations (676,250 ) (8,457 ) (684,707 ) Other Income (Expenses) Loss on vendor notes receivable collectibility - 1,414,921 1,414,921 Interest expense 421,180 421,180 Profit (Loss) before Income Taxes (1,097,430 ) (1,423,378 ) (2,520,808 ) Provision for Income Taxes Net Profit (Loss) $ (1,097,430 ) $ (1,423,378 ) $ (2,520,808 ) Loss per share Basic and fully diluted: Weighted average number of shares outstanding 17,118,431 17,118,431 17,118,431 Loss per share $ (0.06 ) $ (0.09 ) $ (0.15 )
Schedule of stockholders equity	The following table represents the statement of stockholder’s equity (deficit) as previously reported, and as restated as of March 31, 2017: Common Shares Additional Paid-In Preferred Subscription Accumulated Number Par Value Capital Shares Receivable (Deficit) Total Balance as of January 1, 2017 15,754,000 $ 15,754 $ 799,180 $ (167,500 ) $ (155,024 ) $ 492,410 Reverse merger and recapitalization 601,375 601 (601 ) 0 Subscriptions collected 167,500 167,500 Common stock issued for founder shares 625,000 625 - 625 Common stock issued for cash $1.25 per share 946,200 946 1,181,804 1,182,750 Organizational and fund raising costs - - (17,000 ) (17,000 ) Common stock issued for payment of legal fees $2.50 per share 49,600 50 123,950 124,000 Net loss for period ended March 31, 2017 (Restated) - - - - - (2,520,808 ) (2,520,808 ) Balance as of March 31, 2017 (Restated) 17,976,175 $ 17,976 $ 2,087,333 $ - $ - $ (2,675,832 ) $ (570,523 )
Schedule of cash flows	The following table represents the statement of cash flow as previously reported, restatement adjustment, and as restated as of March 31, 2017: Restatement As Previously Filed Adjustment As Restated Cash flows from operating activities: Net (Loss) $ (1,097,430 ) $ (1,423,378 ) $ (2,520,808 ) Adjustments to reconcile Net (Loss) to Net Cash provided by operations: Debt discount amortization 356,250 - 356,250 Depreciation and amortization 11,343 8,457 19,800 Common stock issued for legal fees 124,000 - 124,000 Uncollectible vendor notes receivable - 1,414,921 1,414,921 Changes in Current Assets and Liabilities Vendor advances receivable 186,486 - 186,486 Accounts receivable 4,546 - 4,546 Other receivables (2,465 ) - (2,465 ) Inventories (765,320 ) - (765,320 ) Prepaid expenses 9,927 - 9,927 Accounts payable 252,984 - 252,984 Accounts payable 66,383 - 66,383 Accrued liabilities 86,785 - 86,785 Net cash used in operating activities (766,511 ) (766,511 ) Cash flows from investing activities Purchase of equipment (36,017 ) - (36,017 ) Net cash used in investing activities (36,017 ) - (36,017 ) Cash flow from financing activities Note payment - related party (362,000 ) - (362,000 ) Insurance premium note payments (79,328 ) - (79,328 ) Sale of common stock 1,350,875 - 1,350,875 Organization and fundraising costs (17,000 ) - (17,000 ) Net cash provided by financing activities 892,547 - 892,547 Net increase in cash 90,019 - 90,019 Cash, beginning of period 10,116 - 10,116 Cash, end of period $ 100,135 $ - $ 100,135 Supplemental cash flow disclosures Cash paid during the period for - Interest $ 1,297 $ - $ 1,297 Income taxes $ - $ - $ - Non-cash investing and financing activities: Vendor note receivable foreclosure - Vendor notes receivable $ 2,585,000 $ (1,414,921 ) $ 1,170,079 Vendor advances receivable (96,552 ) (96,552 ) Accounts receivable (20,965 ) (20,965 ) Inventories (509,447 ) (509,447 ) Equipment (187,815 ) (355,300 ) (543,115 ) Goodwill (1,770,221 ) 1,770,221 - Other receivables (20,811 ) (20,811 ) Accounts payable 20,811 20,811 Insurance premium note payable 180,761 180,761 Prepaid expenses (180,761 ) (180,761 ) Common stock 601 601 Additional paid-in-capital (601 ) (601 ) $ - $ - $ -

SUMMARY OF SIGNIFICANT ACCOUN21

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Accumulated losses	$ (2,675,832)	$ (155,024)
Common stock issued for cash, Amount	$ 1,182,750
Sale price per share	$ 1.25
Accumulated amortization	$ 6,250
Advertising costs	28,867
Fair Value transaction	0
Stock-based payments	0
Federal Deposit Insurance Corporation limit	250,000
Cash Uninsured Amount	$ 0
Jesse James | Licensing Agreements [Member]
Common stock issued for cash , Shares	100,000
Common stock issued for cash, Amount	$ 125,000
Sale price per share	$ 1.25
Expiration Period	Sep. 11, 2021

VENDOR NOTES RECEIVABLE (Detail

VENDOR NOTES RECEIVABLE (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Dec. 16, 2016	Oct. 22, 2016
Vendor notes receivable	$ 0	$ 2,585,000
Western Alliance Bank
Note receivable		1,910,993		$ 1,910,993
Allowance for uncollectible amounts		(360,993)
NotesReceivableNet		1,550,000		$ 1,550,000
Mansfield L.L.C
Note receivable		$ 1,035,000	$ 1,035,000

VENDOR NOTES RECEIVABLE (Deta23

VENDOR NOTES RECEIVABLE (Details 1) - USD ($)	1 Months Ended	3 Months Ended
	Feb. 20, 2017	Mar. 31, 2017	Mar. 31, 2016
Vendor notes receivable		$ 2,585,000
Vendor advances receivable		(96,552)	$ 0
Accounts receivable		4,546	0
Inventories		(765,320)	0
Equipment		(543,115)	$ 0
Vendor notes receivable		$ 0
Advanced Tactical Armament Concepts, LLC
Vendor notes receivable	$ 2,585,000
Vendor advances receivable	(96,552)
Accounts receivable	(20,965)
Inventories	(509,447)
Equipment	(543,115)
Loss on uncollectible vendor notes	(1,414,921)
Vendor notes receivable

VENDOR NOTES RECEIVABLE (Deta24

VENDOR NOTES RECEIVABLE (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016	Dec. 22, 2016	Dec. 16, 2016	Oct. 22, 2016
Original principal			$ 1,500,000
Western Alliance Bank
Note receivable		$ 1,910,993			$ 1,910,993
NotesReceivableNet		1,550,000			$ 1,550,000
Mansfield L.L.C
Note receivable		$ 1,035,000		$ 1,035,000
Original principal				$ 900,000
Mansfield L.L.C | Note payable related party [Member]
Purchase of promissory note	$ 1,035,000

INVENTORIES (Details)

INVENTORIES (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Finished product	$ 319,380	$ 0
Raw materials	958,398	219,105
Work in process	216,094	0
Inventory, net	$ 1,493,872	$ 219,105

NOTE PAYABLE - RELATED PARTY (D

NOTE PAYABLE - RELATED PARTY (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Note payable related party	$ 598,000	$ 960,000
Note payable related party [Member] | Mansfield L.L.C
Purchase of promissory note	1,035,000
Note payable related party	1,035,000
Payment of note payable related party	437,000
Due to Related Parties	$ 598,000

CONVERTIBLE NOTE PAYABLE (Detai

CONVERTIBLE NOTE PAYABLE (Details Narrative) - USD ($)	Dec. 12, 2016	Mar. 31, 2017	Dec. 22, 2016
Debt Disclosure [Abstract]
Debt Instrument,Principal Payment			$ 1,500,000
Maturity Period	60 days
Amortization of Deferred Loan Origination Fees		$ 375,000
Debt Instrument, Convertible, Remaining Discount Amortization Period		60 days
Exercise price of warrants		$ 2.50
Amortization fee		$ 356,250

CAPITAL STOCK (Details Narrativ

CAPITAL STOCK (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Debt Disclosure [Abstract]
Common stock - shares authorized	100,000,000		100,000,000
Common stock - par value	$ 0.001		$ 0.001
Common stock issued for cash, Amount	$ 1,182,750
Sale price per share	$ 1.25
Common stock issued for payment of legal fees, Amount	$ 124,000	$ 0
Sale price	$ 2.5

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member]	3 Months Ended
	Mar. 31, 2017USD ($)shares
Purchase of warrants	$ 315,625
Additional common stock purchased	$ 252,500
Debt Conversion Converted Instrument Shares Issued | shares	252,500

RESTATEMENT (Details)

RESTATEMENT (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash	$ 100,135	$ 10,116
Accounts receivable	16,419	0
Other receivables	23,276	0
Vendor notes receivable, net of allowance for doubtful collection	0	2,585,000
Vendor advances receivable	0	89,934
Inventories, at lower cost or market, principally average cost method	1,493,872	219,105
Prepaid expenses	170,834	0
Total current assets	1,804,536	2,904,155
Equipment, net of accumulated depreciation	565,582	0
Other Assets:
Licensing agreement, net	118,750	125,000
Goodwill	0	0
TOTAL ASSETS	2,488,868	3,029,155
Current liabilities:
Accounts payable	331,790	57,995
Accounts payable - related parties	66,383	0
Accrued liabilities	86,785	0
Convertible note payable, net of debt discount	1,875,000	1,518,750
Note payable - related party	598,000	960,000
Insurance premium note payable	101,433	0
Total current liabilities	3,059,391	2,536,745
Stockholders' Equity (Deficit):
Common Stock	17,976	15,754
Additional paid-in capital	2,087,333	799,180
Stock subscription receivable	0	(167,500)
Accumulated (Deficit)	(2,675,832)	(155,024)
Total Stockholders' Equity (Deficit)	(570,523)	492,410
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	2,488,868	$ 3,029,155
Scenario, Previously Reported [Member]
Current assets:
Cash	100,135
Accounts receivable	16,419
Other receivables	23,276
Vendor notes receivable, net of allowance for doubtful collection	0
Vendor advances receivable	0
Inventories, at lower cost or market, principally average cost method	1,493,872
Prepaid expenses	170,834
Total current assets	1,804,536
Equipment, net of accumulated depreciation	218,739
Other Assets:
Licensing agreement, net	118,750
Goodwill	1,770,221
TOTAL ASSETS	3,912,246
Current liabilities:
Accounts payable	331,790
Accounts payable - related parties	66,383
Accrued liabilities	86,785
Convertible note payable, net of debt discount	1,875,000
Note payable - related party	598,000
Insurance premium note payable	101,433
Total current liabilities	3,059,391
Stockholders' Equity (Deficit):
Common Stock	17,976
Additional paid-in capital	2,087,333
Stock subscription receivable	0
Accumulated (Deficit)	(1,252,454)
Total Stockholders' Equity (Deficit)	852,855
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	3,912,246
Restatement Adjustment [Member]
Current assets:
Cash	0
Accounts receivable	0
Other receivables	0
Vendor notes receivable, net of allowance for doubtful collection	0
Vendor advances receivable	0
Inventories, at lower cost or market, principally average cost method	0
Prepaid expenses	0
Total current assets	0
Equipment, net of accumulated depreciation	346,843
Other Assets:
Licensing agreement, net	0
Goodwill	(1,770,221)
TOTAL ASSETS	(1,423,378)
Current liabilities:
Accounts payable	0
Accounts payable - related parties	0
Accrued liabilities	0
Convertible note payable, net of debt discount	0
Note payable - related party	0
Insurance premium note payable	0
Total current liabilities	0
Stockholders' Equity (Deficit):
Common Stock	0
Additional paid-in capital	0
Stock subscription receivable	0
Accumulated (Deficit)	(1,423,378)
Total Stockholders' Equity (Deficit)	(1,423,378)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ (1,423,378)

RESTATEMENT (Details 1)

RESTATEMENT (Details 1) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Gross Sales	$ 653,784	$ 0
Customer incentives, discounts, returns, and allowances	0	0
Net sales	653,784	0
Cost of Goods Sold	474,890	0
Gross Margin	178,894	0
Operating Expenses
Selling and marketing	116,833	0
Corporate general and administrative	578,402	0
Employee salaries and related expenses	167,987	0
Depreciation expense	379	0
Total operating expenses	863,601	0
Loss from Operations	(684,707)	0
Other Income (Expenses)
Loss on vendor notes receivable collectibility	(1,414,921)	0
Interest expense	421,180	0
Loss before Income Taxes	(2,520,808)	0
Provision for Income Taxes	0	0
Net Loss	$ (2,520,808)	$ 0
Loss per share
Weighted average shares outstanding: Basic and Diluted	17,118,431	0
Loss per share: Basic and Diluted	$ (0.15)	$ 0
Scenario, Previously Reported [Member]
Gross Sales	$ 653,784
Customer incentives, discounts, returns, and allowances	0
Net sales	653,784
Cost of Goods Sold	466,433
Gross Margin	187,351
Operating Expenses
Selling and marketing	116,833
Corporate general and administrative	578,402
Employee salaries and related expenses	167,987
Depreciation expense	379
Total operating expenses	863,601
Loss from Operations	(676,250)
Other Income (Expenses)
Loss on vendor notes receivable collectibility	0
Interest expense	421,180
Loss before Income Taxes	(1,097,430)
Provision for Income Taxes	0
Net Loss	$ (1,097,430)
Loss per share
Weighted average shares outstanding: Basic and Diluted	17,118,431
Loss per share: Basic and Diluted	$ (0.06)
Restatement Adjustment [Member]
Gross Sales	$ 0
Customer incentives, discounts, returns, and allowances	0
Net sales	0
Cost of Goods Sold	8,457
Gross Margin	(8,457)
Operating Expenses
Selling and marketing	0
Corporate general and administrative	0
Employee salaries and related expenses	0
Depreciation expense	0
Total operating expenses	0
Loss from Operations	(8,457)
Other Income (Expenses)
Loss on vendor notes receivable collectibility	1,414,921
Interest expense	0
Loss before Income Taxes	(1,423,378)
Provision for Income Taxes	0
Net Loss	$ (1,423,378)
Loss per share
Weighted average shares outstanding: Basic and Diluted	17,118,431
Loss per share: Basic and Diluted	$ (0.09)

RESTATEMENT (Details 2)

RESTATEMENT (Details 2) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Common Stock
Beginning Balance, Shares	15,754,000
Beginning Balance, Amount	$ 15,754
Reverse merger and recapitalization, Shares	601,375
Reverse merger and recapitalization Amount	$ 601
Subscriptions collected
Common stock issued as founder shares, Shares	625,000
Common stock issued as founder shares, Amount	$ 625
Common stock issued for cash , Shares	946,200
Common stock issued for cash, Amount	$ 946
Organizational and fund raising costs
Common stock issued for payment of legal fees, Shares	49,600
Common stock issued for payment of legal fees, Amount	$ 50
Net loss for period ended
Ending Balance, Shares	17,976,175
Ending Balance, Amount	$ 17,976
Additional Paid-In Capital
Beginning Balance, Amount	799,180
Reverse merger and recapitalization Amount	(601)
Subscriptions collected
Common stock issued as founder shares, Amount
Common stock issued for cash, Amount	1,181,804
Organizational and fund raising costs	(17,000)
Common stock issued for payment of legal fees, Amount	123,950
Net loss for period ended
Ending Balance, Amount	$ 2,087,333
Preferred Shares
Beginning Balance, Shares
Reverse merger and recapitalization, Shares
Common stock issued as founder shares, Shares
Common stock issued for cash , Shares
Common stock issued for payment of legal fees, Shares
Ending Balance, Shares
Ending Balance, Amount
Subscription Receivable
Beginning Balance, Amount	(167,500)
Reverse merger and recapitalization Amount
Subscriptions collected	167,500
Common stock issued as founder shares, Amount
Common stock issued for cash, Amount
Organizational and fund raising costs
Common stock issued for payment of legal fees, Amount
Net loss for period ended
Ending Balance, Amount
Accumulated (Deficit)
Beginning Balance, Amount	(155,024)
Reverse merger and recapitalization Amount
Subscriptions collected
Common stock issued as founder shares, Amount
Common stock issued for cash, Amount
Organizational and fund raising costs
Common stock issued for payment of legal fees, Amount
Net loss for period ended	(2,520,808)
Ending Balance, Amount	$ (2,675,832)
Beginning Balance, Shares	15,754,000
Beginning Balance, Amount	$ 492,410
Reverse merger and recapitalization Amount
Subscriptions collected	167,500
Common stock issued as founder shares, Amount	625
Common stock issued for cash, Amount	1,182,750
Organizational and fund raising costs	(17,000)	$ 0
Common stock issued for payment of legal fees, Amount	124,000	$ 0
Net loss for period ended	$ (2,520,808)
Ending Balance, Shares	17,976,175
Ending Balance, Amount	$ (570,523)

RESTATEMENT (Details 3)

RESTATEMENT (Details 3) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net (Loss)	$ (2,520,808)	$ 0
Adjustments to reconcile Net (Loss) to Net Cash provided by operations:
Debt discount amortization	356,250	0
Depreciation and amortization	19,800	0
Common stock issued for legal fees	124,000	0
Uncollectible vendor notes receivable	1,414,921	0
Changes in Current Assets and Liabilities
Vendor advances receivable	186,486	0
Accounts receivable	4,546	0
Other receivables	(2,465)	0
Inventories	(765,320)	0
Prepaid expenses	9,927	0
Accounts payable	252,984	0
Accounts payable - related parties	66,383	0
Accrued liabilities	86,785	0
Net cash used in operating activities	(766,511)	0
Cash flows from investing activities:
Purchase of equipment	(36,017)	0
Net cash used in investing activities	(36,017)	0
Cash flows from financing activities:
Note payments - related party	(362,000)	0
Insurance premium note payments	(79,328)	0
Sale of common stock	1,350,875
Organization and fund raising costs	(17,000)	0
Net cash provided by financing activities	892,547	0
Net increase in cash	90,019	0
Cash, beginning of period	10,116	0
Cash, end of period	100,135	0
Supplemental Cash Flow Information
Cash paid during the period for Interest	1,297	0
Cash paid during the period for Income taxes	0	0
Vendor note receivable foreclosure
Vendor notes receivable	1,170,079	0
Vendor advances receivable	(96,552)	0
Accounts receivable	(20,965)	0
Inventories	(509,447)	0
Equipment	(543,115)	0
Goodwill	0	0
Other receivables	(20,811)	0
Accounts payable	20,811	0
Insurance premium note payable	180,761	0
Prepaid expenses	(180,761)	0
Common stock	601	0
Additional paid-in-capital	(601)	$ 0
Scenario, Previously Reported [Member]
Cash flows from operating activities:
Net (Loss)	(1,097,430)
Adjustments to reconcile Net (Loss) to Net Cash provided by operations:
Debt discount amortization	356,250
Depreciation and amortization	11,343
Common stock issued for legal fees	124,000
Uncollectible vendor notes receivable	0
Changes in Current Assets and Liabilities
Vendor advances receivable	186,486
Accounts receivable	4,546
Other receivables	(2,465)
Inventories	(765,320)
Prepaid expenses	9,927
Accounts payable	252,984
Accounts payable - related parties	66,383
Accrued liabilities	86,785
Net cash used in operating activities	(766,511)
Cash flows from investing activities:
Purchase of equipment	(36,017)
Net cash used in investing activities	(36,017)
Cash flows from financing activities:
Note payments - related party	(362,000)
Insurance premium note payments	(79,328)
Sale of common stock	1,350,875
Organization and fund raising costs	(17,000)
Net cash provided by financing activities	892,547
Net increase in cash	90,019
Cash, beginning of period	10,116
Cash, end of period	100,135
Supplemental Cash Flow Information
Cash paid during the period for Interest	1,297
Cash paid during the period for Income taxes	0
Vendor note receivable foreclosure
Vendor notes receivable	2,585,000
Vendor advances receivable	(96,552)
Accounts receivable	(20,965)
Inventories	(509,447)
Equipment	(187,815)
Goodwill	(1,770,221)
Other receivables	(20,811)
Accounts payable	20,811
Insurance premium note payable	180,761
Prepaid expenses	(180,761)
Common stock	601
Additional paid-in-capital	(601)
Restatement Adjustment [Member]
Cash flows from operating activities:
Net (Loss)	(1,423,378)
Adjustments to reconcile Net (Loss) to Net Cash provided by operations:
Debt discount amortization	0
Depreciation and amortization	8,457
Common stock issued for legal fees	0
Uncollectible vendor notes receivable	1,414,921
Changes in Current Assets and Liabilities
Vendor advances receivable	0
Accounts receivable	0
Other receivables	0
Inventories	0
Prepaid expenses	0
Accounts payable	0
Accounts payable - related parties	0
Accrued liabilities	0
Net cash used in operating activities	0
Cash flows from investing activities:
Purchase of equipment	0
Net cash used in investing activities	0
Cash flows from financing activities:
Note payments - related party	0
Insurance premium note payments	0
Sale of common stock	0
Organization and fund raising costs	0
Net cash provided by financing activities	0
Net increase in cash	0
Cash, beginning of period	0
Cash, end of period	0
Supplemental Cash Flow Information
Cash paid during the period for Interest	0
Cash paid during the period for Income taxes	0
Vendor note receivable foreclosure
Vendor notes receivable	(1,414,921)
Vendor advances receivable	0
Accounts receivable	0
Inventories	0
Equipment	(355,300)
Goodwill	1,770,221
Other receivables	0
Accounts payable	0
Insurance premium note payable	0
Prepaid expenses	0
Common stock	0
Additional paid-in-capital	$ 0