Company: BLIS
Filing Date: 2025-03-26
Form Type: 10-Q
Source: 0001199835-25-000092
Chunk: 37

Company: NAPC Defense, Inc.
Filing Date: 2025-03-26
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 debt expense ($67,467), impairment of assets ($140,296), amortization of debt discounts ($134,197), and financing
fees ($277,050).

Net
Loss

For
the nine month period ended January 31, 2025 the Company incurred net losses of $1,528,996 versus net losses of $507,714 for the nine
month period ended January 31, 2024, a year-over-year increase of approximately 201 %.

Summary
of the Three Months Ended January 31, 2025 Results of Operations Compared to the Three Months Ended January 31, 2024 Results of Operations

Revenue

The
Company did not generate any revenue during the three month periods ended January 31, 2025 and 2024.

Operating
Expenses

Operating
expenses were $259,498 during the three month period ended January 31, 2025 versus $74,865 during the three month period ended January
31, 2024, a year-over-year increase of approximately 247 %. The Company incurred professional fees were $3,183 in 2025 versus $12,237
in 2024, a decrease of 74%. Consulting and accounting fees were $95,574 during the three month period ended January 31, 2025 and $50,222
during the three month period ended January 31, 2024, an increase of 90%. During the three month period ended January 31, 2025 general
and administrative expenses were $71,632 and during the three month period ended January 31, 2024 they were $625, an increase of $71,007. Rent expenses were $75,000 during the three month period ended January 31, 2025 and $0 during the three month period ended January
31, 2024. Rent expenses increased due to the Company leasing a commercial office and warehouse facility. Legal fees were $8,100 during
the three month period ended January 31, 2025 and $2,175 during the three month period ended January 31, 2024, a year-over-year increase
of approximately 272%. Operating expenses increased during the three month period ended January 31, 2025 because the Company was transitioning
into new ventures.

Other
Income (Expense)

Interest
expense was $23,701 during the three month period ended January 31, 2025 and $12,881 during the three month period ended