Company: BLIS
Filing Date: 2025-10-09
Form Type: 10-Q
Source: 0001199835-25-000342
Chunk: 76

Company: NAPC Defense, Inc.
Filing Date: 2025-10-09
Form: 10-Q
Item: Part I, Item 8
Chunk 76
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0.02,
and that is due on January 15, 2026. The company received proceeds of $4,500 resulting in an original issue discount of $500. The Company
also issued 500,000 shares of common stock and stock warrants to the note holder to purchase 500,000 shares of the Company’s common
stock at $0.02. . The common stock and warrants were recorded at their relative fair values of $2,049 for the common stock and $1,809
for the warrants. The resulting debt discount for this note was $4,358. The principal balance of the note at July 31, 2025 and April
30, 2025 is $5,000.

On January 30, 2025 the Company entered into a
convertible promissory note with a face value of $5,000, an annual rate of interest of 10% that is convertible into shares of common
stock at $0.02, and that is due on January 29, 2026. The company received proceeds of $4,500 resulting in an original issue discount
of $500. The Company also issued 500,000 shares of common stock and stock warrants to the note holder to purchase 500,000 shares of
the Company’s common stock at $0.02. The common stock and warrants were recorded at their relative fair values of $2,058 for
the common stock and $1,764 for the warrants. The resulting debt discount for this note was $4,322. The principal balance of the
note at July 31, 2025 and April 30, 2025 is $5,000.

On March 19, 2025 the Company entered into a convertible
promissory note with a face value of $75,000, an annual rate of interest of 10% that is convertible into shares of common stock at $0.02,
and that is due on December 31, 2025. The company received proceeds of $67,500 resulting in an original issue discount of $7,500. The
Company also issued stock warrants to the note holder to purchase 1,875,000 shares of the Company’s common stock at $0.02. The warrants
were recorded at their relative fair value of $22,274. The resulting debt discount for this note was $29,774. The principal balance of
the note at July 31, 2025 and April