Company: BLIS
Filing Date: 2025-03-10
Form Type: 10-Q/A
Source: 0001199835-25-000067
Chunk: 3

Company: NAPC Defense, Inc.
Filing Date: 2025-03-10
Form: 10-Q/A
Chunk 3
---
 |        - |   |
| Cash paid for income taxes                                                  |     | $                        |        - |   |     | $                |        - |   |
| Supplemental disclosures of non-cash investing and financing activities:    |     |                          |          |   |     |                  |          |   |
| Common stock issued as satisfaction for contingent liability                |     | $                        |  173,653 |   |     | $                |        - |   |
| Warrants issued with convertible notes                                      |     | $                        |  148,073 |   |     | $                |        - |   |
| Warrants issued with the sale of common stock                               |     | $                        |   24,988 |   |     | $                |        - |   |
| Conversion of notes payable & accrued interest                              |     | $                        |  290,779 |   |     | $                |  164,661 |   |

<div align='center'>The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

7

NAPC Defense, Inc.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS

October 31, 2024</div>

NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS

Overview

NAPC Defense, Inc. (Formerly Treasure & Shipwreck Recovery, Inc. (“NAPC Defense, Inc.” or the “Company”), was incorporated in the State of Nevada on October 24, 2016 as Beliss Corp. The Company was reincorporated as NAPC Defense on April 1, 2024.

Corporate History

NAPC Defense, Inc. (Formerly Treasure & Shipwreck Recovery, Inc.), was incorporated in the State of Nevada on October 24, 2016 as Beliss Corp. On April 1, 2024, the Company changed its name to NAPC Defense, Inc. with the State of Nevada, for an additional direction in the military arms and law enforcement field. The Company will produce and supply CornerShot units under license from Silver Shadow of Israel, to both overseas military and governments as allowed by the US Government, and sales to US based law enforcement agencies. The Company is looking to complete contracts for the CornerShot as well as its own line of small arms being developed for sales. The Company has made the transition to being a new line of