Company: BLIS
Filing Date: 2025-03-10
Form Type: 10-Q/A
Source: 0001199835-25-000067
Chunk: 30

Company: NAPC Defense, Inc.
Filing Date: 2025-03-10
Form: 10-Q/A
Chunk 30
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 31, 2023, an increase of 1,515%. Rent expenses increased due to the Company
leasing a commercial office and warehouse facility. Depreciation expenses were $3,436 during the six month period ended October 31, 2024
and $8,611 during the six month period ended October 31, 2023. Operating expenses increased during the six month period ended October
31, 2024 as the Company began new ventures during its fiscal year starting May 1, 2024.

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Other Income (Expense)

Interest expense was $41,372 during the six month period ended October 31, 2024 and $32,107 during the six month period ended October 31, 2023, an increase of 75%. The Company’s other income (expense) for the six months ended October 31, 2024 also included losses from extinguishment of debt ($123,653), bad debt expense ($67,467), impairment of assets ($140,296), and amortization of debt discounts ($55,234).

Net Loss

For the six month period ended October 31, 2024 the Company incurred net losses of $889,784 versus net losses of $419,968 for the six month period ended October 31, 2023, a year-over-year increase of approximately 112%.

Summary of the Three Months Ended October 31, 2024 Results of Operations Compared to the Three Months Ended October 31, 2023 Results of Operations

Revenue

The Company did not generate any revenue during the three month periods ended October 31, 2024 and 2023.

Operating Expenses

Operating expenses were $204,730
during the three month period ended October 31, 2024 versus $143,973 during the three month period ended October 31, 2023, a year-over-year
increase of approximately 42%. The Company incurred professional fees were $12,021 in 2024 versus $2,062 in 2023, an increase of 483%.
The increase is attributable to an expansion into new business ventures. Consulting and accounting fees were $61,629 during the three
month period ended October 31, 2024 and $98,754 during the three month period ended October 31, 2023, a decrease of 38%. During the three
month period ended October 31, 2024 general and administrative expenses were $41,