Company: BLIS
Filing Date: 2025-10-09
Form Type: 10-Q
Source: 0001199835-25-000342
Chunk: 30

Company: NAPC Defense, Inc.
Filing Date: 2025-10-09
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 the Company’s common stock at $0.02. The warrants
were recorded at their relative fair value of $22,274. The resulting debt discount for this note was $29,774. The principal balance of
the note at July 31, 2025 and April 30, 2025 is $75,000.

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On March 19, 2025 the Company entered into a convertible
promissory note with a face value of $75,000, an annual rate of interest of 10% that is convertible into shares of common stock at $0.02,
and that is due on December 31, 2025. The company received proceeds of $67,500 resulting in an original issue discount of $7,500. The
Company also issued stock warrants to the note holder to purchase 1,875,000 shares of the Company’s common stock at $0.02. The Company
also issued stock warrants to the note holder to purchase 1,875,000 shares of the Company’s common stock at $0.02. The warrants
were recorded at their relative fair value of $22,274. The resulting debt discount for this note was $29,774. The principal balance of
the note at July 31, 2025 and April 30, 2025 is $75,000.

On April 18, 2025 the Company entered into a convertible
promissory note with a face value of $5,000, an annual rate of interest of 10% that is convertible into shares of common stock at $0.02,
and that is due on April 19, 2026. The company received proceeds of $4,500 resulting in an original issue discount of $500. The Company
also issued 500,000 shares of common stock and stock warrants to the note holder to purchase 500,000 shares of the Company’s common
stock at $0.02. The common stock and warrants were recorded at their relative fair values of $1,931 for the common stock and $1,919 for
the warrants. The resulting debt discount for this note was $4,349. The principal balance of the note at July 31, 2025 and April 30, 2025
is $5,000.

On April 30, 2025 the Company entered into a convertible
promissory note with a face value of $5,000, an annual rate of interest