Company: BLIS
Filing Date: 2025-03-26
Form Type: 10-Q
Source: 0001199835-25-000092
Chunk: 58

Company: NAPC Defense, Inc.
Filing Date: 2025-03-26
Form: 10-Q
Item: Part I, Item 8
Chunk 58
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of the Company’s common stock at $0.02.

On
December 20, 2024 the Company entered into a convertible promissory note with a face value of $250,000, an annual rate of interest of
10% that is convertible into shares of common stock at $0.02, and that is due on December 19, 2025. The company received proceeds of
$225,000 resulting in an original issue discount of $25,000. The Company also issued stock warrants, valued at 237,367, to the note holder to purchase 25,000,000
shares of the Company’s common stock at $0.02.

On
January 16, 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 15, 2026. The company received proceeds of $4,500
resulting in an original issue discount of $500. The Company also issued stock warrants, valued at $8,346, to the note holder to purchase 500,000 shares
of the Company’s common stock at $0.02.

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 stock warrants, valued at $6,597, to the note holder to purchase 500,000 shares
of the Company’s common stock at $0.02.

Convertible
Notes Payable 

The
following table reflects the convertible notes payable as of January 31, 2025 and April 30, 2024:

Schedule
of Notes Payable

    Issue
    Date
     
    Maturity
    Date
     
    January
    31,
    2025
    Principal
    Balance

    April
    30, 2024
    Principal
    Balance

    Rate
     
    Conversion
    Price
  
    Convertible
    notes payable

    Face Value
     
    04/26/202