EXHIBIT 4.8

                     ADDENDUM TO CONVERTIBLE DEBENTURE AND
                        WARRANT TO PURCHASE COMMON STOCK

This  Addendum to  Convertible  Debenture  and Warrant to Purchase  Common Stock
("Addendum")  is  entered  into  as of the ___  day of May  2005 by and  between
American Ammunition,  Inc., a California corporation ("AAMI"), and La Jolla Cove
Investors, Inc., a California corporation ("LJCI").

WHEREAS,  LJCI and AAMI are  parties to that  certain 8%  Convertible  Debenture
dated as of October 4, 2002 ("Debenture"); and

WHEREAS,  LJCI and AAMI are parties to that certain  Warrant to Purchase  Common
Stock dated as of October 4, 2002 ("Warrant"); and

WHEREAS,  the  parties  desire to amend the  Debenture  and  Warrant  in certain
respects.

NOW, THEREFORE,  in consideration of the mutual promises and covenants contained
herein,  and  for  other  good  and  valuable  consideration,  the  receipt  and
sufficiency of which are hereby acknowledged, AAMI and LJCI agree as follows:

1.   All terms  used  herein and not  otherwise  defined  herein  shall have the
     definitions set forth in the Debenture.

2.   AAMI shall deposit 4,000,000  unregistered  shares of AAMI Common Stock, in
     the name of La Jolla Cove Investors, Inc., with Donald F. Mintmire ("Escrow
     Agent"). Upon receipt of confirmation from the Escrow Agent that the shares
     have been  delivered  to the  Escrow  Agent,  LJCI shall  immediately  wire
     $150,000 to AAMI.  This amount  shall  represent an advance on the $400,000
     amount  that LJCI is to wire AAMI  under the  December  10,  2004  Addendum
     between  the  parties.  If the AAMI  registration  statement  filed for the
     benefit of LJCI on  November  14,  2005 is not  declared  effective  by the
     Securities and Exchange Commission within nine months from the date hereof,
     the Escrow  Agent shall  release the shares to LJCI and LJCI may proceed to
     sell such  shares  pursuant  to Rule 144.  If LJCI sells the shares for net
     sales proceeds of more than $150,000 (without any interest accruing on this
     amount),  the excess over $150,000 shall be refunded by LJCI to AAMI.  LJCI
     shall have the right to offset any amounts owed to AAMI against any amounts
     owing to LJCI by AAMI.

3.   The Maturity Date of the Debenture and the  Expiration  Date of the Warrant
     are extended to June 31, 2008.

4.   Except as specifically  amended  herein,  all other terms and conditions of
     the Debenture and Warrant shall remain in full force and effect.










IN WINESS  WHEREOF,  AAMI and LJCI have caused this Addendum to be signed by its
duly authorized officers on the date first set forth above.

American Ammunition, Inc.                     La Jolla Cove Investors, Inc.

By:    /s/ Andres F. Fernandez                By:    /s/ Norman Lizt
       ---------------------------                   ---------------------------
Name:  Andres F. Fernandez                    Name:  Norman Lizt
       ---------------------------                   ---------------------------
Title: President and CEO                      Title:
       ---------------------------                   ---------------------------


I agree to act as escrow agent hereunder, in accordance with the terms hereof.

/s/ Donald F. Mintmire
- ----------------------------
Donald F. Mintmire

Dated: ________________________