Company: BLIS
Filing Date: 2025-03-26
Form Type: 10-Q
Source: 0001199835-25-000092
Chunk: 69

Company: NAPC Defense, Inc.
Filing Date: 2025-03-26
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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 events or circumstances after the date of such statement or to reflect the occurrence
of anticipated or unanticipated events.

Financial
information contained in this report and in our financial statements is stated in United States dollars and are prepared in accordance
with United States generally accepted accounting principles.

Description
of Business

Overview 

NAPC
Defense, Inc. (Formerly Treasure & Shipwreck Recovery, Inc (the “Company”), was incorporated in the State of Nevada on
January 24, 2016 as Beliss Corp. The Company changed its name to Treasure & Shipwreck Recovery Inc. on June 26, 2019. The Company
is in the colonial era treasure shipwreck recovery business operating salvage crews on the east coast of Florida. On April 1, 2024, the
Company changed its name to NAPC Defense, Inc. with the State of Nevada, for an additional direction in the military arms and law enforcement
field.

Corporate
History

The
Company will produce and supply CornerShot units under license from Silver Shadow of Israel, to both overseas military and governments
as allowed by the US Government, and sales to US based law enforcement agencies. As well the Company intends and has direct lines of
sourcing personal ballistics protection for personnel, such as helmets, bullet resistant vests and shields for overseas sale and domestic
sale to US entities. In addition, the Company will use contacts and sources for the sale of small caliber arms in form of rifles and
pistols including newly developing technologies and products for overseas and domestic sales. Other areas of brokering existing contacts
from overseas of larger scale ammunition and artillery from overseas sources is being followed from known sources of supply for brokered
sales to US approved allies and other countries. The brokering of armored vehicles for domestic purchase and overseas sales is also being
pursued.

20

By
March 2024, the board determined and entered into an acquisition agreement for the acquisition of the rights, intellectual property,
and associated contracts, letters of intent, and assets from Native American Pride Constructors, LLC for acquisition of certain rights
to sale and production of the CornerShot firearms and surveillance technology, owned by Silver Shadow of Israel and licensed to Native
American Pride Constructors LLC (Native American), and other associated leads and rights into the defense industry, including munitions
brokering overseas under United Stated State Department Approval for artillery, rocket, and other munitions sales from off shore sources
to U.S. approved allies