Company: BLIS
Filing Date: 2025-09-11
Form Type: 10-K
Source: 0001199835-25-000302
Chunk: 40

Company: NAPC Defense, Inc.
Filing Date: 2025-09-11
Form: 10-K
Item: Item 8
Chunk 40
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  A loan dated July 01, 2025 in the amount of $20,000                                                        

  A convertible note dated July 2, 2025 with a face                                                                                   

  A convertible note dated July 18, 2025 with a face                                                                                  
  value of $27,500, an original issue discount of $2,500, proceeds to the Company of $25,000, an annual rate of interest of 10% that  
  is convertible into shares at $0.01 and that is due on October 17, 2026;                                                            
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  A convertible note dated August 21, 2025 with a face value of $150,000,                                                                   
  an original issue discount of $15,000, proceeds to the Company of $135,000, an annual rate of interest of 10% that is convertible into    
  shares at $0.01 and that is due on August 22, 2026. The note also states that the lender will receive monthly performance bonus payments  
  of $500 per unit of the CornerShot product manufactured and delivered by the Company upon receipt of customer payment, limited to 100%    
  of the loan value.                                                                                                                        
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  A convertible note dated July 21, 2025 with a face                                                                                        

Subsequent
to April 30, 2025 the Company issued convertible notes with a conversion price of $0.01, which is lower than the exercise price of
$0.028 of previously issued warrants, triggering full ratchet price protection for the warrants and resulting in an additional
approximately 11,786,000 warrants issuable. This results in a deemed dividend amount of approximately $118,000.

Subsequent
to April 30, 2025 the following convertible notes went into default:

  A                                                                               
  convertible promissory note dated June 16, 2024 that was due on June 16, 2025;  
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  A                                                                               
  convertible promissory note dated July 03, 2024 that was due on July 03, 2025;  
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  A                                                                                   
  convertible