AMMO (POWW) 10-Q/A 3 Nov 17 2017 Q2 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 18, 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	Jun. 30, 2017
Amendment Flag	true
Amendment Description	Ammo, Inc., (the "Company"), is restating its balance sheet as of June 30, 2017, and the income statement, statement of cash flow, and statement of stockholder's (deficit) equity for the three-month and six-month periods ended June 30, 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		16,849,175
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,017

BALANCE SHEETS (Unaudited)

BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash	$ 44,764	$ 10,116
Accounts receivable	229,012	0
Other receivables	0	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	1,550,664	219,105
Prepaid expense	133,995
Total current assets	1,958,435	2,904,155
Equipment, net of accumulated depreciation of $34,244	545,744	0
Other Assets:
Licensing agreement, net of $6,250 of accumulated amortization in 2017	229,167	125,000
Goodwill	0	0
TOTAL ASSETS	2,733,346	3,029,155
Current liabilities:
Accounts payable	405,680	57,995
Accounts payable - related parties	0	0
Accrued liabilities	103,166	0
Convertible note payable, net of debt discount of $356,250 in 2016	1,775,000	1,518,750
Note payable - related party	300,040	960,000
Insurance premium note payable	62,210	0
Total current liabilities	2,646,096	2,536,745
Stockholders' Equity:
Common Stock, $0.001 par value, 100,000,000 shares authorized 17,167,621 and 15,754,000 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively	19,168	15,754
Additional paid-in capital	3,546,766	799,180
Stock subscription receivable	0	(167,500)
Accumulated	(3,478,684)	(155,024)
Total Stockholders' Equity	87,250	492,410
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 2,733,346	$ 3,029,155

BALANCE SHEETS (Unaudited) (Par

BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Allowance for doubtful collection		$ 360,993
Accumulated depreciation	$ 34,244
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	17,167,621	15,754,000
Common stock - shares outstanding	17,167,621	15,754,000

STATEMENT OF OPERATIONS (Unaudi

STATEMENT OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Gross Sales	$ 315,579	$ 315,579	$ 969,363
Customer incentives, discounts, returns, and allowances	0	0	0
Net sales	315,579	315,579	969,363
Cost of Goods Sold, includes depreciation and amortization of $32,987 and $52,408 for the three and six months ended June 30, 2017, respectively	295,265	295,265	769,654
Gross Margin	20,314	20,314	199,709
Operating Expenses
Selling and marketing	270,901	270,901	387,734
Corporate general and administrative	377,647	377,647	956,049
Employee salaries and related expenses	150,088	150,088	318,075
Depreciation expense	1,055	1,055	2,669
Total operating expenses	799,691	799,691	1,664,527
Loss from Operations	(779,377)	(779,377)	(1,464,818)
Other Income (Expenses)
Loss on vendor notes receivable collectibility	0	0	1,414,921
Interest expense	22,741	22,741	443,921
Profit (Loss) before Income Taxes	(802,118)	(802,118)	(3,323,660)
Provision for Income Taxes	0	0	0
Net Profit (Loss)	$ (802,118)	$ (802,118)	$ (3,323,660)	$ 0
Loss per share
Weighted average shares outstanding: Basic and Diluted	18,425,818	18,425,818	17,653,924
Loss per share: Basic and Diluted	$ (0.04)	$ (0.04)	$ (0.19)

STATEMENT OF OPERATIONS (Unaud5

STATEMENT OF OPERATIONS (Unaudited) (Parenthetical) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017
Income Statement [Abstract]
Depreciation and amortization	$ 32,987	$ 52,408

STATEMENT OF STOCKHOLDERS' EQUI

STATEMENT OF STOCKHOLDERS' EQUITY (Unaudited) - 6 months ended Jun. 30, 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	604,321					604,321
Reverse merger and recapitalization Amount	$ 604	(604)
Subscriptions collected				167,500		$ 167,500
Common stock issued for founder shares, Shares	625,000					625,000
Common stock issued for founder shares, Amount	$ 625					$ 625
Common stock issued for cash , Shares	2,014,700					2,014,700
Common stock issued for cash, Amount	$ 2,015	2,516,360				$ 2,518,375
Organizational and fund raising costs,Shares	20,000					20,000
Organizational and fund raising costs	$ 20	(17,020)				$ (17,000)
Common stock issued for payment of legal fees, Shares	49,600					49,600
Common stock issued for payment of legal fees, Amount	$ 50	123,950				$ 124,000
Licensing agreement, Share	100,000					100,000
Licensing agreement, Amount	$ 100	124,900				$ 125,000
Net loss for period ended					(3,323,660)	$ (3,323,660)
Ending Balance, Shares at Jun. 30, 2017	19,167,621					19,167,621
Ending Balance, Amount at Jun. 30, 2017	$ 19,168	$ 3,546,766			$ (3,478,684)	$ 87,250

STATEMENTS OF CASH FLOW (Unaudi

STATEMENTS OF CASH FLOW (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net (Loss)	$ (3,323,660)	$ 0
Adjustments to reconcile net (loss) to net cash provided by operations:
Debt discount amortization	356,250	0
Depreciation and amortization	55,077	0
Uncollectible vendor notes receivable	1,414,921	0
Common stock issued for legal services	124,060	0
Changes in Current Assets and Liabilities
Vendor advances receivable	186,486	0
Accounts receivable	(208,048)	0
Other receivables	0	0
Inventories	(822,112)	0
Prepaid expenses	46,767	0
Accounts payable	349,377	0
Accrued liabilities	101,474	0
Net cash used in operating activities	(1,719,468)	0
Cash flows from investing activities
Goodwill, legal fee	0	0
Purchase of equipment	(36,873)	0
Net cash used in investing activities	(36,873)
Cash flow from financing activities
Convertible note payment	(100,000)	0
Note payment - related party	(659,960)	0
Insurance premium note payments	(118,551)	0
Sale of common stock	2,686,500	0
Organization and fundraising costs	(17,000)	0
Net cash provided by financing activities	1,790,989	0
Net increase in cash	34,648	0
Cash, beginning of period	10,116	0
Cash, end of period	44,764	0
Supplemental cash flow disclosures
Cash paid during the period for interest	5,913	0
Cash paid during the period for income taxes	0	0
Non-cash investing and financing activities:
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
Licensing Agreement	(125,000)	0
Goodwill	125,000	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	604	0
Additional paid-in-capital	$ (604)	$ 0

ORGANIZATION AND BUSINESS ACTIV

ORGANIZATION AND BUSINESS ACTIVITY	6 Months Ended
	Jun. 30, 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 475,679 (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 577,056 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, the Company 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 475,679 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 601,375 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.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 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 month and six month periods ended June 30, 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 and six month periods ended June 30, 2017, (b) the financial position at June 30, 2017 and (c) cash flows for the six-month period ended June 30, 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 June 30, 2017 the Company has accumulated losses of $3,478,684. 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 and six months ended June 30, 2017 was $14,583 and $20,833, respectively. 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. Approximately 83% of total revenues were derived from two customers and 70% of the accounts receivable is due from one customer at June 30, 2017. ADVERTISING COSTS The Company expenses advertising costs as they are incurred. The Company incurred selling costs of $124,669 and $95,802 for the six month and three month periods ended June 30, 2017, respectively. 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 June 30, 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 June 30, 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 June 30, 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 June 30, 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	6 Months Ended
	Jun. 30, 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 uncollectable vendor notes (1,414,921 ) $ -

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2017
Inventory Disclosure [Abstract]
INVENTORIES	NOTE 4 – INVENTORIES At June 30, 2017 and December 31, 2016 the inventory balances are composed of: 2017 2016 Finished product $ 754,327 $ - Raw materials 642,795 219,105 Work in process 153,542 - $ 1,550,664 $ 219,105

CONVERTIBLE NOTE PAYABLE

CONVERTIBLE NOTE PAYABLE	6 Months Ended
	Jun. 30, 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. During the three months ended June 30, 2017, the Company paid $100,000 of the outstanding balance.

NOTE PAYABLE - RELATED PARTY

NOTE PAYABLE - RELATED PARTY	6 Months Ended
	Jun. 30, 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 June 30, 2017, only $734,960 of the note balance has been paid, leaving a liability of $300,040 payable to Mansfield.

CAPITAL STOCK

CAPITAL STOCK	6 Months Ended
	Jun. 30, 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 June 30, 2017, the Company sold 2,014,700 shares of its common stock for $1.25 per share and collected proceeds of $2,518,375 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	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 8 - SUBSEQUENT EVENTS Subsequent to June 30, 2017 through the date these financials were available for issuance, the Company sold an additional 132,000 shares of common stock and issued 132,000 common stock purchase warrants for $165,000. The Company evaluated subsequent events through August 17, 2017, the date the financial statements were issued, and determined that there are not any other items to disclose.

RESTATEMENT

RESTATEMENT	6 Months Ended
	Jun. 30, 2017
Accounting Changes and Error Corrections [Abstract]
RESTATEMENT	NOTE 9 – RESTATEMENT The Company is restating its balance sheet as of June 30, 2017, and the income statement, statement of cash flow, and statement of stockholder’s equity (deficit) for the three-month and six-month periods ended June 30, 2017. The restatement shows the previously filed financial statements, the restatement adjustment and as restated columns for the balance sheet as of June 30, 2017, and the income statement, statement of cash flow, and statement of stockholder’s equity (deficit) for the three-month and six-month periods ended June 30, 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 June 30, 2017: Restatement As Previously Filed Adjustment As Restated (Unaudited) (Unaudited) ASSETS Current Assets: Cash $ 44,764 $ 44,764 Accounts receivable 229,012 229,012 Other receivables - - 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 1,550,664 1,550,664 Prepaid expense 133,995 133,995 Total Current Assets 1,958,435 - 1,958,435 Equipment, 211,591 334,153 545,744 Other Assets: - - Licensing agreement, net of $6,250 of accumulated amortization in 2017 229,167 229,167 Goodwill 1,950,816 (1,950,816 ) - TOTAL ASSETS $ 4,350,009 $ (1,616,663 ) $ 2,733,346 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current Liabilities: Accounts payable $ 405,680 $ 405,680 Accounts payable - related parties - - Accrued liabilities 103,166 103,166 Convertible note payable, net of debt discount of $356,250 in 2016 1,775,000 1,775,000 Note payable - related party 300,040 300,040 Insurance premium note payable 62,210 62,210 Total Current Liabilities 2,646,096 - 2,646,096 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 June 30, 2017 and December 31, 2016, respectively 19,168 19,168 Additional paid-in capital 3,546,766 3,546,766 Stock subscription receivable - - Accumulated (Deficit) (1,862,021 ) (1,616,663 ) (3,478,684 ) Total Stockholders' Equity (Deficit) 1,703,913 (1,616,663 ) 87,250 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 4,350,009 $ (1,616,663 ) $ 2,733,346 The following table represents the income statement as previously reported, restatement adjustment, and as restated as of June 30, 2017: As Previously Restatement As Previously Restatement Filed Adjustment As Restated Filed Adjustment As Restated (3 months) (6 months) Gross Sales $ 315,579 $ 315,579 $ 969,363 $ 969,363 Customer incentives, discounts, returns, and allowances - - - - Net sales 315,579 - 315,579 969,363 - 969,363 Cost of Goods Sold, includes depreciation and amortization of $32,987 and $52,408 for the three and six months ended June 30, 2017, respectively 283,309 11,956 295,265 749,742 19,912 769,654 Gross Margin 32,270 (11,956 ) 20,314 219,621 (19,912 ) 199,709 Operating Expenses Selling and marketing 270,901 270,901 387,734 387,734 Corporate general and administrative 197,052 180,595 377,647 775,454 180,595 956,049 Employee salaries and related expenses 150,088 150,088 318,075 318,075 Depreciation expense 1,055 1,055 1,434 1,235 2,669 Total operating expenses 619,096 180,595 799,691 1,482,697 181,830 1,664,527 Loss from Operations (586,826 ) (192,551 ) (779,377 ) (1,263,076 ) (201,742 ) (1,464,818 ) Other Income (Expenses) Loss on vendor notes receivable collectibility - - - - 1,414,921 1,414,921 Interest expense 22,741 - 22,741 443,921 443,921 Profit (Loss) before Income Taxes (609,567 ) (192,551 ) (802,118 ) (1,706,997 ) (1,616,663 ) (3,323,660 ) Provision for Income Taxes Net Profit (Loss) $ (609,567 ) $ (192,551 ) $ (802,118 ) $ (1,706,997 ) $ (1,616,663 ) $ (3,323,660 ) Loss per share Basic and fully diluted: Weighted average number of shares outstanding 18,425,818 18,425,818 18,425,818 17,653,924 17,653,924 17,653,924 Loss per share $ (0.03 ) $ (0.01 ) $ (0.04 ) $ (0.10 ) $ (0.09 ) $ (0.19 ) The following table represents the statement of stockholder’s equity (deficit) as previously reported and as restated as of June 30, 2017: Common Shares Additional Paid-In Preferred Subscription Accumulated Total Number Par Value Capital Shares Receivable (Deficit) Balance as of January 1, 2017 15,754,000 $ 15,754 $ 799,180 $ - $ (167,500 ) $ (155,024 ) $ 492,410 Reverse merger and recapitalization 604,321 604 (604 ) - - - - 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 2,014,700 2,015 2,516,360 - - - 2,518,375 Organizational and fund raising costs 20,000 20 (17,020 ) - - - (17,000 ) Common stock issued for payment of legal fees $2.50 per share 49,600 50 123,950 - - - 124,000 Licensing agreement 100,000 100 124,900 - - - 125,000 Net loss for period ended June 30, 2017 (Restated) - - - - (3,323,660 ) (3,323,660 ) Balance as of June 30, 2017 (Restated) 19,167,621 $ 19,168 $ 3,546,766 $ - $ - $ (3,478,684 ) $ 87,250 The following table represents the statement of cash flow as previously reported, restatement adjustment, and as restated as of June 30, 2017: Restatement As Previously Filed Adjustment As Restated Cash flows from operating activities: Net (Loss) $ (1,706,997 ) $ (1,616,663 ) $ (3,323,660 ) Adjustments to reconcile Net (Loss) to Net Cash provided by operations: Debt discount amortization 356,250 - 356,250 Depreciation and amortization 33,930 21,147 55,077 Uncollectible vendor notes receivable - 1,414,921 1,414,921 Common stock issued for legal services - 124,000 124,000 Changes in Current Assets and Liabilities Vendor advances receivable 155,891 30,595 186,486 Accounts receivable (208,048 ) - (208,048 ) Other receivables - - Inventories (822,112 ) - (822,112 ) Prepaid expenses 46,767 - 46,767 Accounts payable 349,377 - 349,377 Accrued liabilities 101,474 - 101,474 Net cash used in operating activities (1,693,468 ) (26,000 ) (1,719,468 ) Cash flows from investing activities Goodwill, legal fee (26,000 ) 26,000 - Purchase of equipment (36,873 ) - (36,873 ) Net cash used in investing activities (62,873 ) - (62,873 ) Cash flow from financing activities Convertible note payment (100,000 ) - (100,000 ) Note payment - related party (659,960 ) - (659,960 ) Insurance premium note payments (118,551 ) - (118,551 ) Sale of common stock 2,686,500 - 2,686,500 Organization and fundraising costs (17,000 ) - (17,000 ) Net cash provided by financing activities 1,790,989 - 1,790,989 Net increase in cash 34,648 - 34,648 Cash, beginning of period 10,116 - 10,116 Cash, end of period $ 44,764 $ - $ 44,764 Supplemental cash flow disclosures Cash paid during the period for - Interest $ 5,913 $ - $ 5,913 Income taxes $ - $ - $ - Restatement As Previously Filed Adjustment As Restated 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 - Licensing Agreement (125,000 ) (125,000 ) Goodwill 125,000 125,000 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 604 604 Additional paid-in-capital (604 ) (604 ) $ - $ - $ -

SUMMARY OF SIGNIFICANT ACCOUN17

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 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 month and six month periods ended June 30, 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 and six month periods ended June 30, 2017, (b) the financial position at June 30, 2017 and (c) cash flows for the six-month period ended June 30, 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 June 30, 2017 the Company has accumulated losses of $3,478,684. 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 and six months ended June 30, 2017 was $14,583 and $20,833, respectively.
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. Approximately 83% of total revenues were derived from two customers and 70% of the accounts receivable is due from one customer at June 30, 2017.
ADVERTISING COSTS	ADVERTISING COSTS The Company expenses advertising costs as they are incurred. The Company incurred selling costs of $124,669 and $95,802 for the six month and three month periods ended June 30, 2017, respectively.
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 June 30, 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 June 30, 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 June 30, 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 June 30, 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)	6 Months Ended
	Jun. 30, 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	Vendor notes receivable $ 2,585,000 Vendor advances receivable (96,552 ) Accounts receivable (20,965 ) Inventories (509,447 ) Equipment (543,115 ) Loss on uncollectable vendor notes (1,414,921 ) $ -

INVENTORIES (Table)

INVENTORIES (Table)	6 Months Ended
	Jun. 30, 2017
Inventory Disclosure [Abstract]
Inventory	At June 30, 2017 and December 31, 2016 the inventory balances are composed of: 2017 2016 Finished product $ 754,327 $ - Raw materials 642,795 219,105 Work in process 153,542 - $ 1,550,664 $ 219,105

RESTATEMENT (Table)

RESTATEMENT (Table)	6 Months Ended
	Jun. 30, 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 June 30, 2017: Restatement As Previously Filed Adjustment As Restated (Unaudited) (Unaudited) ASSETS Current Assets: Cash $ 44,764 $ 44,764 Accounts receivable 229,012 229,012 Other receivables - - 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 1,550,664 1,550,664 Prepaid expense 133,995 133,995 Total Current Assets 1,958,435 - 1,958,435 Equipment, 211,591 334,153 545,744 Other Assets: - - Licensing agreement, net of $6,250 of accumulated amortization in 2017 229,167 229,167 Goodwill 1,950,816 (1,950,816 ) - TOTAL ASSETS $ 4,350,009 $ (1,616,663 ) $ 2,733,346 LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) Current Liabilities: Accounts payable $ 405,680 $ 405,680 Accounts payable - related parties - - Accrued liabilities 103,166 103,166 Convertible note payable, net of debt discount of $356,250 in 2016 1,775,000 1,775,000 Note payable - related party 300,040 300,040 Insurance premium note payable 62,210 62,210 Total Current Liabilities 2,646,096 - 2,646,096 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 June 30, 2017 and December 31, 2016, respectively 19,168 19,168 Additional paid-in capital 3,546,766 3,546,766 Stock subscription receivable - - Accumulated (Deficit) (1,862,021 ) (1,616,663 ) (3,478,684 ) Total Stockholders' Equity (Deficit) 1,703,913 (1,616,663 ) 87,250 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 4,350,009 $ (1,616,663 ) $ 2,733,346
Schedule of operations	The following table represents the income statement as previously reported, restatement adjustment, and as restated as of June 30, 2017: As Previously Restatement As Previously Restatement Filed Adjustment As Restated Filed Adjustment As Restated (3 months) (6 months) Gross Sales $ 315,579 $ 315,579 $ 969,363 $ 969,363 Customer incentives, discounts, returns, and allowances - - - - Net sales 315,579 - 315,579 969,363 - 969,363 Cost of Goods Sold, includes depreciation and amortization of $32,987 and $52,408 for the three and six months ended June 30, 2017, respectively 283,309 11,956 295,265 749,742 19,912 769,654 Gross Margin 32,270 (11,956 ) 20,314 219,621 (19,912 ) 199,709 Operating Expenses Selling and marketing 270,901 270,901 387,734 387,734 Corporate general and administrative 197,052 180,595 377,647 775,454 180,595 956,049 Employee salaries and related expenses 150,088 150,088 318,075 318,075 Depreciation expense 1,055 1,055 1,434 1,235 2,669 Total operating expenses 619,096 180,595 799,691 1,482,697 181,830 1,664,527 Loss from Operations (586,826 ) (192,551 ) (779,377 ) (1,263,076 ) (201,742 ) (1,464,818 ) Other Income (Expenses) Loss on vendor notes receivable collectibility - - - - 1,414,921 1,414,921 Interest expense 22,741 - 22,741 443,921 443,921 Profit (Loss) before Income Taxes (609,567 ) (192,551 ) (802,118 ) (1,706,997 ) (1,616,663 ) (3,323,660 ) Provision for Income Taxes Net Profit (Loss) $ (609,567 ) $ (192,551 ) $ (802,118 ) $ (1,706,997 ) $ (1,616,663 ) $ (3,323,660 ) Loss per share Basic and fully diluted: Weighted average number of shares outstanding 18,425,818 18,425,818 18,425,818 17,653,924 17,653,924 17,653,924 Loss per share $ (0.03 ) $ (0.01 ) $ (0.04 ) $ (0.10 ) $ (0.09 ) $ (0.19 )
Schedule of stockholders equity	The following table represents the statement of stockholder’s equity (deficit) as previously reported and as restated as of June 30, 2017: Common Shares Additional Paid-In Preferred Subscription Accumulated Total Number Par Value Capital Shares Receivable (Deficit) Balance as of January 1, 2017 15,754,000 $ 15,754 $ 799,180 $ - $ (167,500 ) $ (155,024 ) $ 492,410 Reverse merger and recapitalization 604,321 604 (604 ) - - - - 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 2,014,700 2,015 2,516,360 - - - 2,518,375 Organizational and fund raising costs 20,000 20 (17,020 ) - - - (17,000 ) Common stock issued for payment of legal fees $2.50 per share 49,600 50 123,950 - - - 124,000 Licensing agreement 100,000 100 124,900 - - - 125,000 Net loss for period ended June 30, 2017 (Restated) - - - - (3,323,660 ) (3,323,660 ) Balance as of June 30, 2017 (Restated) 19,167,621 $ 19,168 $ 3,546,766 $ - $ - $ (3,478,684 ) $ 87,250
Schedule of cash flows	The following table represents the statement of cash flow as previously reported, restatement adjustment, and as restated as of June 30, 2017: Restatement As Previously Filed Adjustment As Restated Cash flows from operating activities: Net (Loss) $ (1,706,997 ) $ (1,616,663 ) $ (3,323,660 ) Adjustments to reconcile Net (Loss) to Net Cash provided by operations: Debt discount amortization 356,250 - 356,250 Depreciation and amortization 33,930 21,147 55,077 Uncollectible vendor notes receivable - 1,414,921 1,414,921 Common stock issued for legal services - 124,000 124,000 Changes in Current Assets and Liabilities Vendor advances receivable 155,891 30,595 186,486 Accounts receivable (208,048 ) - (208,048 ) Other receivables - - Inventories (822,112 ) - (822,112 ) Prepaid expenses 46,767 - 46,767 Accounts payable 349,377 - 349,377 Accrued liabilities 101,474 - 101,474 Net cash used in operating activities (1,693,468 ) (26,000 ) (1,719,468 ) Cash flows from investing activities Goodwill, legal fee (26,000 ) 26,000 - Purchase of equipment (36,873 ) - (36,873 ) Net cash used in investing activities (62,873 ) - (62,873 ) Cash flow from financing activities Convertible note payment (100,000 ) - (100,000 ) Note payment - related party (659,960 ) - (659,960 ) Insurance premium note payments (118,551 ) - (118,551 ) Sale of common stock 2,686,500 - 2,686,500 Organization and fundraising costs (17,000 ) - (17,000 ) Net cash provided by financing activities 1,790,989 - 1,790,989 Net increase in cash 34,648 - 34,648 Cash, beginning of period 10,116 - 10,116 Cash, end of period $ 44,764 $ - $ 44,764 Supplemental cash flow disclosures Cash paid during the period for - Interest $ 5,913 $ - $ 5,913 Income taxes $ - $ - $ - Restatement As Previously Filed Adjustment As Restated 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 - Licensing Agreement (125,000 ) (125,000 ) Goodwill 125,000 125,000 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 604 604 Additional paid-in-capital (604 ) (604 ) $ - $ - $ -

SUMMARY OF SIGNIFICANT ACCOUN21

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017	Dec. 31, 2016
Accumulated losses	$ (3,478,684)	$ (3,478,684)	$ (155,024)
Common stock issued for cash , Shares		2,014,700
Common stock issued for cash, Amount		$ 2,518,375
Sale price per share	$ 1.25	$ 1.25
Amortization	$ 14,583	$ 20,833
Advertising costs	95,802	124,669
Fair Value transaction	0	0
Stock-based payments		0
Federal Deposit Insurance Corporation limit	250,000	250,000
Cash Uninsured Amount	$ 0	$ 0
Sales Revenue, Net [Member] | Two customers [Member]
Concentration percentage		83.00%
Accounts receivable [Member] | One customer [Member]
Concentration percentage		70.00%
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	$ 1.25
Expiration Period		Sep. 11, 2021

VENDOR NOTES RECEIVABLE (Detail

VENDOR NOTES RECEIVABLE (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016	Dec. 16, 2016	Oct. 24, 2016
Vendor notes receivable	$ 0	$ 2,585,000
Western Alliance Bank
Note receivable		1,910,993		$ 1,910,993
Less: Allowance for uncollectible amounts		(360,963)
Notes Receivable Net		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	6 Months Ended
	Feb. 20, 2017	Jun. 30, 2017	Jun. 30, 2016
Vendor notes receivable		$ 2,585,000
Vendor advances receivable		(96,552)	$ 0
Accounts receivable		(208,048)	0
Inventories		(822,112)	0
Equipment		$ (543,115)	$ 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 uncollectable vendor notes	$ (1,414,921)

VENDOR NOTES RECEIVABLE (Deta24

VENDOR NOTES RECEIVABLE (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016	Dec. 22, 2016	Dec. 16, 2016	Oct. 24, 2016
Original principal			$ 1,500,000
Western Alliance Bank
Note receivable		$ 1,910,993			$ 1,910,993
Notes Receivable Net		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 ($)	Jun. 30, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Finished product	$ 754,327	$ 0
Raw materials	642,795	219,105
Work in process	153,542	0
Inventory, net	$ 1,550,664	$ 219,105

CONVERTIBLE NOTE PAYABLE (Detai

CONVERTIBLE NOTE PAYABLE (Details Narrative) - USD ($)	Dec. 12, 2016	Jun. 30, 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
Convertiable note payable outstanding balance		$ 100,000

NOTE PAYABLE - RELATED PARTY (D

NOTE PAYABLE - RELATED PARTY (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Note payable related party	$ 300,040	$ 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	734,960
Due to Related Parties	$ 300,040

CAPITAL STOCK (Details Narrativ

CAPITAL STOCK (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2017	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 , Shares	2,014,700
Common stock issued for cash, Amount	$ 2,518,375
Sale price per share	$ 1.25
Common stock issued for payment of legal fees, Shares	49,600
Common stock issued for payment of legal fees, Amount	$ 124,000
Sale price	$ 2.5

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member]	6 Months Ended
	Jun. 30, 2017USD ($)shares
Purchase of warrants	$ 165,000
Additional common stock purchased	$ 132,000
Debt Conversion Converted Instrument Shares Issued | shares	132,000

RESTATEMENT (Details)

RESTATEMENT (Details) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash	$ 44,764	$ 10,116
Accounts receivable	229,012	0
Other receivables	0	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	1,550,664	219,105
Prepaid expense	133,995
Total current assets	1,958,435	2,904,155
Equipment, net of accumulated depreciation	545,744	0
Other Assets:
Licensing agreement, net	229,167	125,000
Goodwill	0	0
TOTAL ASSETS	2,733,346	3,029,155
Current liabilities:
Accounts payable	405,680	57,995
Accounts payable - related parties	0	0
Accrued liabilities	103,166	0
Convertible note payable, net	1,775,000	1,518,750
Note payable - related party	300,040	960,000
Insurance premium note payable	62,210	0
Total current liabilities	2,646,096	2,536,745
Stockholders' Equity (Deficit):
Common Stock	19,168	15,754
Additional paid-in capital	3,546,766	799,180
Stock subscription receivable	0	(167,500)
Accumulated (deficit)	(3,478,684)	(155,024)
Total Stockholders' Equity (Deficit)	87,250	492,410
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	2,733,346	$ 3,029,155
Scenario, Previously Reported [Member]
Current assets:
Cash	44,764
Accounts receivable	229,012
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	1,550,664
Prepaid expense	133,995
Total current assets	1,958,435
Equipment, net of accumulated depreciation	211,591
Other Assets:
Licensing agreement, net	229,167
Goodwill	1,950,816
TOTAL ASSETS	4,350,009
Current liabilities:
Accounts payable	405,680
Accounts payable - related parties	0
Accrued liabilities	103,166
Convertible note payable, net	1,775,000
Note payable - related party	300,040
Insurance premium note payable	62,210
Total current liabilities	2,646,096
Stockholders' Equity (Deficit):
Common Stock	19,168
Additional paid-in capital	3,546,766
Stock subscription receivable	0
Accumulated (deficit)	(1,862,021)
Total Stockholders' Equity (Deficit)	1,703,913
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	4,350,009
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 expense	0
Total current assets	0
Equipment, net of accumulated depreciation	334,153
Other Assets:
Licensing agreement, net	0
Goodwill	(1,950,816)
TOTAL ASSETS	(1,616,663)
Current liabilities:
Accounts payable	0
Accounts payable - related parties	0
Accrued liabilities	0
Convertible note payable, net	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)	(1,616,663)
Total Stockholders' Equity (Deficit)	(1,616,663)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ (1,616,663)

RESTATEMENT (Details 1)

RESTATEMENT (Details 1) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2017	Jun. 30, 2016
Gross Sales	$ 315,579	$ 315,579	$ 969,363
Customer incentives, discounts, returns, and allowances	0	0	0
Net sales	315,579	315,579	969,363
Cost of Goods Sold	295,265	295,265	769,654
Gross Margin	20,314	20,314	199,709
Operating Expenses
Selling and marketing	270,901	270,901	387,734
Corporate general and administrative	377,647	377,647	956,049
Employee salaries and related expenses	150,088	150,088	318,075
Depreciation expense	1,055	1,055	2,669
Total operating expenses	799,691	799,691	1,664,527
Loss from Operations	(779,377)	(779,377)	(1,464,818)
Other Income (Expenses)
Loss on vendor notes receivable collectibility	0	0	1,414,921
Interest expense	22,741	22,741	443,921
Profit (Loss) before Income Taxes	(802,118)	(802,118)	(3,323,660)
Provision for Income Taxes	0	0	0
Net Profit (Loss)	$ (802,118)	$ (802,118)	$ (3,323,660)	$ 0
Loss per share
Weighted average shares outstanding: Basic and Diluted	18,425,818	18,425,818	17,653,924
Loss per share: Basic and Diluted	$ (0.04)	$ (0.04)	$ (0.19)
Scenario, Previously Reported [Member]
Gross Sales		$ 315,579	$ 969,363
Customer incentives, discounts, returns, and allowances		0	0
Net sales		315,579	969,363
Cost of Goods Sold		283,309	749,742
Gross Margin		32,270	219,621
Operating Expenses
Selling and marketing		270,901	387,734
Corporate general and administrative		197,052	775,454
Employee salaries and related expenses		150,088	318,075
Depreciation expense		1,055	1,434
Total operating expenses		619,096	1,482,697
Loss from Operations		(586,826)	(1,263,076)
Other Income (Expenses)
Loss on vendor notes receivable collectibility		0	0
Interest expense		22,741	443,921
Profit (Loss) before Income Taxes		(609,567)	(1,706,997)
Provision for Income Taxes		0	0
Net Profit (Loss)		$ (609,567)	$ (1,706,997)
Loss per share
Weighted average shares outstanding: Basic and Diluted		18,425,818	17,653,924
Loss per share: Basic and Diluted		$ (0.03)	$ (0.10)
Restatement Adjustment [Member]
Gross Sales			$ 0
Customer incentives, discounts, returns, and allowances		$ 0	0
Net sales		0	0
Cost of Goods Sold		11,956	19,912
Gross Margin		(11,956)	(19,912)
Operating Expenses
Selling and marketing		0	0
Corporate general and administrative		180,595	180,595
Employee salaries and related expenses		0	0
Depreciation expense		0	1,235
Total operating expenses		180,595	181,830
Loss from Operations		(192,551)	(201,742)
Other Income (Expenses)
Loss on vendor notes receivable collectibility		0	1,414,921
Interest expense		0	0
Profit (Loss) before Income Taxes		(192,551)	(1,616,663)
Provision for Income Taxes		0	0
Net Profit (Loss)		$ (192,551)	$ (1,616,663)
Loss per share
Weighted average shares outstanding: Basic and Diluted		18,425,818	17,653,924
Loss per share: Basic and Diluted		$ (0.01)	$ (0.09)

RESTATEMENT (Details 2)

RESTATEMENT (Details 2) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Common Stock
Beginning Balance, Shares	15,754,000
Beginning Balance, Amount	$ 15,754
Reverse merger and recapitalization, Shares	604,321
Reverse merger and recapitalization Amount	$ 604
Subscriptions collected
Common stock issued for founder shares, Shares	625,000
Common stock issued for founder shares, Amount	$ 625
Common stock issued for cash , Shares	2,014,700
Common stock issued for cash, Amount	$ 2,015
Organizational and fund raising costs,Shares	20,000
Organizational and fund raising costs	$ 20
Common stock issued for payment of legal fees, Shares	49,600
Common stock issued for payment of legal fees, Amount	$ 50
Licensing agreement, Share	100,000
Licensing agreement, Amount	$ 100
Net loss for period ended
Ending Balance, Shares	19,167,621
Ending Balance, Amount	$ 19,168
Additional Paid-In Capital
Beginning Balance, Amount	799,180
Reverse merger and recapitalization Amount	(604)
Subscriptions collected
Common stock issued for founder shares, Amount
Common stock issued for cash, Amount	2,516,360
Organizational and fund raising costs	(17,020)
Common stock issued for payment of legal fees, Amount	123,950
Licensing agreement, Amount	124,900
Net loss for period ended
Ending Balance, Amount	$ 3,546,766
Preferred Shares
Beginning Balance, Shares
Reverse merger and recapitalization, Shares
Common stock issued for founder shares, Shares
Common stock issued for cash , Shares
Organizational and fund raising costs,Shares
Common stock issued for payment of legal fees, Shares
Licensing agreement, Share
Ending Balance, Shares
Subscription Receivable
Beginning Balance, Amount	$ (167,500)
Reverse merger and recapitalization Amount
Subscriptions collected	167,500
Common stock issued for 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 for 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	(3,323,660)
Ending Balance, Amount	$ (3,478,684)
Beginning Balance, Shares	15,754,000
Beginning Balance, Amount	$ 492,410
Reverse merger and recapitalization, Shares	604,321
Reverse merger and recapitalization Amount
Subscriptions collected	$ 167,500
Common stock issued for founder shares, Shares	625,000
Common stock issued for founder shares, Amount	$ 625
Common stock issued for cash , Shares	2,014,700
Common stock issued for cash, Amount	$ 2,518,375
Organizational and fund raising costs,Shares	20,000
Organizational and fund raising costs	$ (17,000)	$ 0
Common stock issued for payment of legal fees, Shares	49,600
Common stock issued for payment of legal fees, Amount	$ 124,000
Licensing agreement, Share	100,000
Licensing agreement, Amount	$ 125,000
Net loss for period ended	$ (3,323,660)
Ending Balance, Shares	19,167,621
Ending Balance, Amount	$ 87,250

RESTATEMENT (Details 3)

RESTATEMENT (Details 3) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net (Loss)	$ (802,118)	$ (802,118)	$ (3,323,660)	$ 0
Adjustments to reconcile Net (Loss) to Net Cash provided by operations:
Debt discount amortization			356,250	0
Depreciation and amortization			55,077	0
Uncollectible vendor notes receivable			1,414,921	0
Common stock issued for legal services			124,000
Changes in Current Assets and Liabilities
Vendor advances receivable			186,486	0
Accounts receivable			(208,048)	0
Other receivables			0	0
Inventories			(822,112)	0
Prepaid expenses			46,767	0
Accounts payable			349,377	0
Accrued liabilities			101,474	0
Net cash used in operating activities			(1,719,468)	0
Cash flows from investing activities
Goodwill, legal fee			0	0
Purchase of equipment			(36,873)	0
Net cash used in investing activities			(36,873)
Cash flow from financing activities
Convertible note payment			(100,000)
Note payment - related party			(659,960)	0
Insurance premium note payments			(118,551)	0
Sale of common stock			2,686,500	0
Organization and fundraising costs			(17,000)	0
Net cash provided by financing activities			1,790,989	0
Net increase in cash			34,648	0
Cash, beginning of period		10,116	10,116	0
Cash, end of period	44,764		44,764	0
Supplemental cash flow disclosures
Cash paid during the period for - Interest			5,913	0
Cash paid during the period for income taxes			0	0
Non-cash investing and financing activities:
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
Licensing Agreement			(125,000)	0
Goodwill			125,000	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			604	0
Additional paid-in-capital			(604)	$ 0
Scenario, Previously Reported [Member]
Cash flows from operating activities:
Net (Loss)		(609,567)	(1,706,997)
Adjustments to reconcile Net (Loss) to Net Cash provided by operations:
Debt discount amortization			356,250
Depreciation and amortization			33,930
Uncollectible vendor notes receivable			0
Common stock issued for legal services			0
Changes in Current Assets and Liabilities
Vendor advances receivable			155,891
Accounts receivable			(208,048)
Inventories			(822,112)
Prepaid expenses			46,767
Accounts payable			349,377
Accrued liabilities			101,474
Net cash used in operating activities			(1,693,468)
Cash flows from investing activities
Goodwill, legal fee			(26,000)
Purchase of equipment			(36,873)
Net cash used in investing activities			(62,873)
Cash flow from financing activities
Convertible note payment			(100,000)
Note payment - related party			(659,960)
Insurance premium note payments			(118,551)
Sale of common stock			2,686,500
Organization and fundraising costs			(17,000)
Net cash provided by financing activities			1,790,989
Net increase in cash			34,648
Cash, beginning of period		10,116	10,116
Cash, end of period	44,764		44,764
Supplemental cash flow disclosures
Cash paid during the period for - Interest			5,913
Cash paid during the period for income taxes			0
Non-cash investing and financing activities:
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)
Licensing Agreement			(125,000)
Goodwill			125,000
Other receivables			(20,811)
Accounts payable			20,811
Insurance premium note payable			180,761
Prepaid expenses			(180,761)
Common stock			604
Additional paid-in-capital			(604)
Restatement Adjustment [Member]
Cash flows from operating activities:
Net (Loss)		(192,551)	(1,616,663)
Adjustments to reconcile Net (Loss) to Net Cash provided by operations:
Debt discount amortization			0
Depreciation and amortization			21,147
Uncollectible vendor notes receivable			1,414,921
Common stock issued for legal services			124,000
Changes in Current Assets and Liabilities
Vendor advances receivable			30,595
Accounts receivable			0
Other receivables			0
Inventories			0
Prepaid expenses			0
Accounts payable			0
Accrued liabilities			0
Net cash used in operating activities			(26,000)
Cash flows from investing activities
Goodwill, legal fee			26,000
Purchase of equipment			0
Net cash used in investing activities			0
Cash flow from financing activities
Convertible note payment			0
Note payment - related party			0
Insurance premium note payments			0
Sale of common stock			0
Organization and fundraising costs			0
Net cash provided by financing activities			0
Net increase in cash			0
Cash, beginning of period		$ 0	0
Cash, end of period	$ 0		0
Supplemental cash flow disclosures
Cash paid during the period for - Interest			0
Cash paid during the period for income taxes			0
Non-cash investing and financing activities:
Vendor notes receivable			(1,414,921)
Vendor advances receivable			0
Accounts receivable			0
Inventories			0
Equipment			(355,300)
Goodwill			1,770,221
Licensing Agreement			0
Goodwill			0
Other receivables			0
Accounts payable			0
Insurance premium note payable			0
Prepaid expenses			0
Common stock			0
Additional paid-in-capital			$ 0