Selling remanufactured ammo is not illegal but the liability is HUGE. During the Obama/Biden ammo shortages alot of remanufactured ammo was sold. Some of the amateurs got an FFL and became a licensed business in order to get a price break on supplies. Whether they are "bonded" is whole different matter. More than one firearm has been destroyed by 'gun show" ammo.SCORE!!!!!!!!
It's not illegal for an FFL to sell loose bullets like that. Just because they are not from a "commercial" maker,, doesn't make them illegal.