On May 21, 2025, Outdoor Holding Co (formerly AMMO, Inc.) disclosed that it entered into a Settlement Agreement regarding ongoing litigation with its largest stockholder, Steven Urvan, which includes the issuance of warrants for 7 million shares and two unsecured promissory notes totaling $51 million. The agreement also announces the resignation of CEO Jared Smith and the appointment of Urvan as the new CEO, effective May 30, 2025.