Company: BLIS
Filing Date: 2025-10-09
Form Type: 10-Q
Source: 0001199835-25-000342
Chunk: 109

Company: NAPC Defense, Inc.
Filing Date: 2025-10-09
Form: 10-Q
Item: Part I, Item 2
Chunk 109
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27,708 and current liabilities were $1,514,311.

As
of July 31, 2025 our total stockholders’ deficit was $1,445,841.

As
of July 31, 2025 we had a working capital deficit of $1,486,603.

24

Cash
flows from operating activities

For
the three months ended July 31, 2025 net cash flows used in operating activities was $248,359.

For
the three months ended July 31, 2024 net cash flows used in operating activities was $163,549.

The
increase in cash used in operating activities is primarily attributable to an increase in the net loss and the amortization of debt
discount.

Cash
flows from investing activities

For
the three months ended July 31, 2025 net cash flow used in investing activities was $6,500.

For
the three months ended July 31, 2024 net cash flow used in investing activities was $0.

Cash
flows from financing activities

For
the three months ended July 31, 2025 we have generated $267,657 in cash flows from financing activities.

For
the three months ended July 31, 2024 we have generated $170,288 in cash flows from financing activities.

The
increase in cash provided by financing activities is primarily attributable to an increase in proceeds from short term loans and
cash proceeds from the exercise of warrants.

We
qualify as a “smaller reporting company” under the JOBS Act. As a result, we are permitted to, and intend to, rely on exemptions
from certain disclosure requirements.

For
example, smaller reporting companies are not required to provide a compensation discussion and analysis under Item 402(b) of Regulation
S-K or the auditor attestation of internal controls over financial reporting.

Future
Financings

We
will continue to rely on equity sales of the Company’s common shares in order to continue to fund business operations. Issuances
of additional shares will result in dilution to existing shareholders. There is no assurance that the Company will achieve any additional
sales of equity securities or arrange for debt or other financing to fund planned operations.

Liquidity
and Capital Resources and Cash Requirements

As
of the date of this report, the current funds available to the Company will not be sufficient to continue maintaining a reporting status.
At July 31, 2025, the Company had a working capital deficit of $1,