Business: AMMO, Inc. 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock, liquidation preference $25 per share, redeemable at the issuer's option on or after 05/18/2026 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. <p> Cumulative distributions of 8.75% per annum ($2.1875 per annum or $0.546875 per quarter) will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date which shall be the last day of the calendar month preceding the payment date (NOTE: the ex-dividend date is one business day prior to the record date). <p> Upon the occurrence of a change of control the company will have the option within 120 days to redeem the preferred shares in whole or in part at $25 per share plus accrued and unpaid dividends. <p> This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of distributions and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.