Company: BLIS
Filing Date: 2025-03-26
Form Type: 10-Q
Source: 0001199835-25-000092
Chunk: 88

Company: NAPC Defense, Inc.
Filing Date: 2025-03-26
Form: 10-Q
Item: Part I, Item 2
Chunk 88
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The
Company generated $67,467 in revenue during the nine month period ended January 31, 2025 and $0 revenue during the nine month period
ended January 31, 2024. The Company has determined that the revenue generated during the nine month period ended is uncollectible.

Operating
Expenses

Operating
expenses were $788,727 during the nine month period ended January 31, 2025 versus $462,726 during the nine month period ended January
31, 2024, a year-over-year increase of approximately 70 %. The Company incurred boat expenses of $5,675 during the nine month period
ended January 31, 2025 as compared to boat expenses of $98,500 during the nine month period ended January 31, 2024, a decrease of approximately
94%. Professional fees were $18,354 in 2025 versus $14,300 in 2024, an increase of 28%. Consulting and accounting fees were $226,820
during the nine month period ended January 31, 2025 and $205,684 during the nine month period ended January 31, 2024, an increase of
10%. During the nine month period ended January 31, 2025 general and administrative expenses were $250,162, during the nine month period
ended January 31, 2024 they were $31,343, an increase of approximately 698 %. Legal fees were $43,750 during the nine month period ended
January 31, 2025 versus $16,390 during the nine month period ended January 31, 2024, a year-over-year increase of approximately 167%.
There were $418 in labor expenses during the nine month period ended January 31, 2025 versus $73,992 during the nine month period
ended January 31, 2024. The decrease in labor expense is attributable to decreased exploration during the nine month period ended January
31, 2025. Rent expenses were $230,000 in 2025 versus $9,600 during the nine month period ended January 31, 2024, an increase of $220,400.
Rent expenses increased due to the Company leasing a commercial office and warehouse facility. Depreciation expenses were $3,436 during
the nine month period ended January 31, 2025 and $8,611 during the nine month period ended January 31, 2024. Operating expenses increased
during