Company: BLIS
Filing Date: 2025-10-09
Form Type: 10-Q
Source: 0001199835-25-000342
Chunk: 33

Company: NAPC Defense, Inc.
Filing Date: 2025-10-09
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 2025 the Company had 500,000,000 authorized shares of common stock.

During
the three month period ended July 31, 2025 NAPC Defense, Inc. issued 33,128,755 shares of the Company’s restricted common stock,
including:

    -
    1,250,000
    common shares with warrants under subscription agreements for total proceeds of $12,500;

    -
    6,218,041
    common shares for $62,180 of principal, interest and fees converted at the contractual conversion rate.

    -
    20,625,000
    common shares valued at $82,229 based on the relative fair value on the date of issuance for loan origination;

    -
    4,535,714
    common shares for the  exercise of warrants for aggregate proceeds of $45,357.

Series
A Preferred Stock

On
May 1, 2020, the Company’s Board authorized the creation of 100 Series A preferred shares. The Series A preferred shares was planned
to pay a quarterly payment based upon treasure operations under the former business operations for revenue sharing, which all 100 Series
A preferred shares were to receive twenty percent of the operations from recoveries at sea at the time. Each Series A preferred share
was priced at $4,000 with a minimum purchase of three Series A preferred shares and are only eligible to be purchased by accredited investors.
The Series A preferred shares are not convertible into common shares and are subject to all other restrictions on securities as set forth.

At
July 31, 2025 and April 30, 205 the Company had 51 shares of Series A preferred shares outstanding.

Warrants

Schedule of Warrant Outstanding 

    Weighted
    -  
    Weighted
    - 
    Aggregate -

    Number
of Warrants 
     Number of Warrants  
    Average Exercise Price  
    Remaining Term 
    Intrinsic Value

    Outstanding at April 30, 2025 
     52,615,668  
    $0.0250  
     2.460 
    $
    -

    Granted 
     20,910,714  
    $0.0102  
     3.845 

    Warrants issued under full ratchet price protection 
     11,785,715  
    $0.0100  
     3.040 

    Exercised