ATLANTA, GA – – (Globe Newswire – October 1, 2024) – – A shareholder class action lawsuit has been filed against AMMO, Inc. (“AMMO” or “the Company”) (NASDAQ: POWW). The lawsuit alleges that Defendants made materially false and misleading statements and/or failed to disclose material adverse information regarding the Company’s business, operations, and prospects, including allegations that: (1) AMMO lacked adequate internal controls over financial reporting; (2) there was a substantial likelihood AMMO failed to accurately disclose all executive officers, members of management, and potential related party transactions in fiscal years 2020 through 2023; (3) there was a substantial likelihood the Company failed to properly characterize 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 (4) there was a substantial likelihood AMMO failed to appropriately value unrestricted stock awards to officers, directors, employees and others in fiscal years 2020 through 2022.

If you bought shares of AMMO between August 19, 2020 and September 24, 2024, and you suffered a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey D. Holzer, Esq. at cholzer@holzerlaw.com, by toll-free telephone at (888) 508-6832 or you may visit the firm’s website at www.holzerlaw.com/case/ammo/ to learn more.

The deadline to ask the court to be appointed lead plaintiff in the case is November 29, 2024.