Company: BLIS
Filing Date: 2025-02-26
Form Type: 10-Q
Source: 0001199835-25-000051
Chunk: 24

Company: NAPC Defense, Inc.
Filing Date: 2025-02-26
Form: 10-Q
Item: Part I, Item 2
Chunk 24
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, and potential purchasers of large-scale munitions sales for such areas as Allied and US military or foreign add to       
  Ukraine. These leads and brokering needed confirmation as to available inventories from owners overseas by the Company through relations     
  created with the new operations. The amounts and the available rolling catalogues of available munitions and sources were subject to         
  review and approval for final distribution. The verification was to be made as of or after May 1, 2024, through the former CEO with his      
  experience and knowledge.                                                                                                                    
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  Verification                                                                                                                               

Thus
on April 1, 2024 there was the change in officers and directors, which was made for an additional new segment of the Company into the
defense and law enforcement business. Pursuant to the Board of Directors resolution there was no change in control of the Issuer to any
party. The change in officers and directors was made to include the following for the change in the main direction of the Company: The
Agreement was entered into without abandoning the treasure and recovery business, while the board made a change in officers and directors.
There was no change in control of the Company.

Thus,
pursuant to the Board of Directors intent for the new addition of a business line for defense, it was decided and concluded that as of
April 1, 2024, Craig A. Huffman, Patrick Scheider, and Frederick Conte, resigned as officer and directors, with Craig A. Huffman to continue
as Secretary and Chief Legal Officer for the Corporation while overseeing and approval of the acquisition, overseeing corporate compliance,
contracting and numerous other matters on a continuing basis. The board appointed Edward K. West as Director and Chief Executive Officer,
Evelyn R. Gurba as director, Derrick West as director, and John Spence as director and Chief Financial Officer.

As
of April 1, 2024, the Company determined the new business priority would best be reflected by a change in the name to NAPC Defense, which
was reflected by a change of the corporate name in the State of Nevada to NAPC Defense, Inc.

Results
of operations

We have incurred recurring losses
to date. At October 31, 2024, the Company’s had a working capital deficit of $990,136, which indicates that it is not able to cover
its current liabilities with its current assets