POWW · Nasdaq
Companies at this level ended the following year delisted, bankrupt, restated or silent 9.2% of the time, against 4.0% for companies with a clean record.
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This Form 12b-25 (Notification of Late Filing) is filed by Ammo, Inc. (the “ Company ”) with respect to its Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2024 (the “ Quarterly Report ”) pursuant to Rule 12b-25 under the Securities Exchange Act of 1934, as amended (the “ Exchange Act ”). As previously disclosed, the Company’s previously reported financial statements for certain historical periods should no longer be relied upon. Specifically, the Company’s financial statements as of and for the years ended March 31, 2024, 2023, 2022 and 2021, as well as all interim periods within such years (collectively, the “ Affected Periods ”), including the auditors’ reports on the financial statements for all fiscal years within the Affected Periods and the auditors’ report on internal controls for the years ended March 31, 2024 and 2023, should no longer be relied upon. Also, as previously disclosed, a Special Committee of the Board of Directors of the Company (the “ Board ”) retained a law firm to conduct an independent investigation (the “ Investigation ”) focused on fiscal years 2020 through 2023. The scope of the Investigation includes, among other things, an assessment of whether the Company and its management control persons at the time (i) accurately disclosed all executive officers, members of management, and potential related party transactions in fiscal years 2020 through 2023, (ii) properly characterized certain fees paid for investor relations and legal services as reductions of proceeds from capital raises rather than period expenses in fiscal years 2021 and 2022 and (iii) appropriately valued unrestricted stock awards to officers, directors, employees and others in fiscal years 2020 through 2023 (collectively, the “ Investigation Issues ”)
NT 10-Q, filed 2025-02-10 · investigation
2026-06-29auditor changed or resigned SEC →
2025-07-03auditor changed or resigned SEC →
2025-02-25accounts declared unreliable SEC →
This Form 12b-25 (Notification of Late Filing) is filed by Ammo, Inc. (the “ Company ”) with respect to its Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2024 (the “ Quarterly Report ”) pursuant to Rule 12b-25 under the Securities Exchange Act of 1934, as amended (the “ Exchange Act ”). As previously disclosed, the Company’s previously reported financial statements for certain historical periods should no longer be relied upon. Specifically, the Company’s financial statements as of and for the years ended March 31, 2024, 2023, 2022 and 2021, as well as all interim periods within such years (collectively, the “ Affected Periods ”), including the auditors’ reports on the financial statements for all fiscal years within the Affected Periods and the auditors’ report on internal controls for the years ended March 31, 2024 and 2023, should no longer be relied upon. Also, as previously disclosed, a Special Committee of the Board of Directors of the Company (the “ Board ”) retained a law firm to conduct an independent investigation (the “ Investigation ”) focused on fiscal years 2020 through 2023. The scope of the Investigation includes, among other things, an assessment of whether the Company and its management control persons at the time (i) accurately disclosed all executive officers, members of management, and potential related party transactions in fiscal years 2020 through 2023, (ii) properly characterized certain fees paid for investor relations and legal services as reductions of proceeds from capital raises rather than period expenses in fiscal years 2021 and 2022 and (iii) appropriately valued unrestricted stock awards to officers, directors, employees and others in fiscal years 2020 through 2023 (collectively, the “ Investigation Issues ”)
This Form 12b-25 (Notification of Late Filing) is filed by Ammo, Inc. (the “Company”) with respect to its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2024 (the “Quarterly Report”) pursuant to Rule 12b-25 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). As previously disclosed in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission (the “Commission”) on October 3, 2024, on September 27, 2024, the Company received a communication from its independent registered public accounting firm, Pannell Kerr Forster of Texas, P.C. (“PKF”), in which PKF requested that the Company take action to disclose that the following historical financial statements and auditors’ reports previously reported by the Company should no longer be relied upon: ● financial statements as of and for the year ended March 31, 2024, as well as all interim periods within such year, including the auditors’ report on the financial statements and the auditors’ report on internal controls; ● financial statements as of and for the year ended March 31, 2023, as well as all interim periods within such year, including the auditors’ report on the financial statements and the auditors’ report on internal controls; ● financial statements as of and for the year ended March 31, 2022, as well as all interim periods within such year, including the auditors’ report on the financial statements; and ● financial statements as of and for the year ended March 31, 2021, including the auditors’ report on the financial statements (collectively the “Affected Periods”). As previously disclosed in the Company’s Current Report on Form 8-K filed with the Commission on September 24, 2024, based in part on information provided by PKF, a Special Committee of the Board of Directors of the Company retained a law firm to conduct an independent investigation (the “Investigation”) focused on fiscal years 2020 through 2023
2024-10-03accounts declared unreliable SEC →
2021-04-14auditor changed or resigned SEC →
reportingrisk.com scores every active US filer on three things a company tells the SEC about itself: late-filing notices on Form NT, 8-K item 4.02 (past accounts declared unreliable) and 4.01 (auditor changes). 1,012 are flagged today.
Every score is frozen and checked twelve months later. Across 91,452 of them, a company scoring 4 or more ended that year delisted, bankrupt, restated or silent 17.2% of the time, against 4.0% for a clean record. Scores before 2026-09-27 were reconstructed from the filing history as it stood at each date, so the record is a backtest rather than years of live calls.
See the ledger → Every company the score flagged that later failed, what it told the SEC on the way down, and the ones it missed.Every item above is a filing this company
made with the SEC.
Snapshot 2026-11-04 · data from SEC EDGAR (public domain) · not
investment advice