Outdoor Holding Co Goodwill & Intangibles Disclosure
NOTE 19 – GOODWILL AND INTANGIBLE ASSETS
During our previous fiscal year ended March 31, 2022, we recorded $90,870,094 of Goodwill generated from our Merger with Gemini. The balance of Goodwill at March 31, 2024 and 2023 was $90,870,094. We did not have any Goodwill prior to the year ended March 31, 2022.
Total amortization expense of our intangible assets was $13,062,874, $13,067,041, and $13,072,967 for the years ended March 31, 2024, 2023, and 2022, respectively.
Intangible assets consisted of the following:
| March 31, 2024 | ||||||||||||||
| Life | Licenses | Patent | Other Intangible Assets | |||||||||||
| Licensing Agreement – Jesse James | 5 | $ | 125,000 | $ | - | $ | - | |||||||
| Licensing Agreement – Jeff Rann | 5 | 125,000 | - | - | ||||||||||
| Streak Visual Ammunition patent | 11.2 | - | 950,000 | - | ||||||||||
| SWK patent acquisition | 15 | - | 6,124,005 | - | ||||||||||
| Jagemann Munition Components: | ||||||||||||||
| Customer Relationships | 3 | - | - | 1,450,613 | ||||||||||
| Intellectual Property | 3 | - | - | 1,543,548 | ||||||||||
| Tradename | 5 | - | - | 2,152,076 | ||||||||||
| GDI Acquisition: | ||||||||||||||
| Tradename | 15 | - | - | 76,532,389 | ||||||||||
| Customer List | 10 | - | - | 65,252,802 | ||||||||||
| Intellectual Property | 10 | - | - | 4,224,442 | ||||||||||
| Other Intangible Assets | 5 | - | - | 607,747 | ||||||||||
| 250,000 | 7,074,005 | 151,763,617 | ||||||||||||
| Accumulated amortization – Licensing Agreements | (250,000 | ) | - | - | ||||||||||
| Accumulated amortization – Patents | - | (2,534,715 | ) | - | ||||||||||
| Accumulated amortization – Intangible Assets | - | - | (40,714,550 | ) | ||||||||||
| $ | $ | 4,539,290 | $ | 111,049,067 | ||||||||||
| March 31, 2023 | ||||||||||||||
| Life | Licenses | Patent | Other Intangible Assets | |||||||||||
| Licensing Agreement – Jesse James | 5 | $ | 125,000 | $ | - | $ | - | |||||||
| Licensing Agreement – Jeff Rann | 5 | 125,000 | - | - | ||||||||||
| Streak Visual Ammunition patent | 11.2 | - | 950,000 | - | ||||||||||
| SWK patent acquisition | 15 | - | 6,124,005 | - | ||||||||||
| Jagemann Munition Components: | ||||||||||||||
| Customer Relationships | 3 | - | - | 1,450,613 | ||||||||||
| Intellectual Property | 3 | - | - | 1,543,548 | ||||||||||
| Tradename | 5 | - | - | 2,152,076 | ||||||||||
| GDI Acquisition: | ||||||||||||||
| Tradename | 15 | - | - | 76,532,389 | ||||||||||
| Customer List | 10 | - | - | 65,252,802 | ||||||||||
| Intellectual Property | 10 | - | - | 4,224,442 | ||||||||||
| Other Intangible Assets | 5 | - | - | 607,747 | ||||||||||
| 250,000 | 7,074,005 | 151,763,617 | ||||||||||||
| Accumulated amortization – Licensing Agreements | (250,000 | ) | - | - | ||||||||||
| Accumulated amortization – Patents | - | (2,041,251 | ) | - | ||||||||||
| Accumulated amortization – Intangible Assets | - | - | (28,036,807 | ) | ||||||||||
| $ | $ | 5,032,754 | $ | 123,726,810 | ||||||||||
Annual estimated amortization of intangible assets for the next five fiscal years are as follows:
| Years Ended March 31, | Estimates for Fiscal Year | |||
| 2025 | $ | 12,650,642 | ||
| 2026 | 12,614,775 | |||
| 2027 | 12,549,188 | |||
| 2028 | 12,543,226 | |||
| 2029 | 12,507,792 | |||
| Thereafter | 52,722,734 | |||
| $ | 115,588,357 | |||
AMMO, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2024 | Jun 13, 2024 | Showing above |
| 2023 | Jun 14, 2023 | |
| 2022 | Jun 29, 2022 | |
| 2021 | Jun 29, 2021 | |
| 2020 | Aug 19, 2020 | |
| 2019 | Jul 1, 2019 | |
| 2017 | Apr 11, 2018 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.