Company: BLIS
Filing Date: 2025-10-09
Form Type: 10-Q
Source: 0001199835-25-000342
Chunk: 28

Company: NAPC Defense, Inc.
Filing Date: 2025-10-09
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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1,500. The
Company also issued 1,500,000 shares of common stock and stock warrants, to the note holder to purchase 1,500,000 shares of the Company’s
common stock at $0.02. The common stock and warrants were recorded at their relative fair values of $6,124 for the common stock and $5,132
for the warrants. The resulting debt discount for this note was $12,756. The principal balance of the note at July 31, 2025 and April
30, 2025 is $15,000.

On December 18, 2024 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 December 18, 2025. 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 $2,041 for the common stock and $1,711 for
the warrants. The resulting debt discount for this note was $4,252. The principal balance of the note at July 31, 2025 and April 30,
2025 is $5,000.

On December 20, 2024 the Company entered into a convertible
promissory note with a face value of $250,000, an annual rate of interest of 10% that is convertible into shares of common stock at $0.02,
and that is due on December 19, 2025. The company received proceeds of $225,000 resulting in an original issue discount of $25,000. The
Company also issued 25,000,000 shares of the common stock and stock warrants to the note holder to purchase 25,000,000 shares of the
Company’s common stock at $0.02. The common stock and warrants were recorded at their relative fair values of $102,202 for the
common stock and $86,387 for the warrants. The resulting debt discount for this note was $213,589. The principal balance of the note
at July 31, 2025 and April 30,