Company: BLIS
Filing Date: 2025-10-09
Form Type: 10-Q
Source: 0001199835-25-000342
Chunk: 69

Company: NAPC Defense, Inc.
Filing Date: 2025-10-09
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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 stock and $10,580 for the warrants. The resulting debt discount for this note
was $21,162.

On
May 19, 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 May 20, 2026. The company received proceeds of $4,500 net of
issue costs of $500 which were immediately expensed.. 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 $1,929 for the common stock and $1,922 for the warrants. The resulting debt discount for this note was $3,851.

    14

On
June 23, 2025 the Company entered into a convertible promissory note with a face value of $50,000, an annual rate of interest of 10%
that is convertible into shares of common stock at $0.02, and that is due on June 24, 2026. The company received proceeds of $50,000.
The Company also issued 5,000,000 shares of common stock and stock warrants to the note holder to purchase 5,000,000 shares of the Company’s
common stock at $0.01. The common stock and warrants were recorded at their relative fair values of $16,163 for the common stock and
$16,122 for the warrants. The resulting debt discount for this note was $32,285.

On
July 2, 2025 the Company entered into a convertible promissory note with a face value of $55,000, an annual rate of interest of 10% that
is convertible into shares of common stock at $0.02, and that is due on October 1, 2025. The company received proceeds of $50,000 net
of issue costs of $5,000 which were immediately expensed. The Company also issued 5,500,000 shares of the Company’s common stock
and stock warrants to the note holder to purchase 5,500,000 shares of the Company’s common stock at $0.01. The common stock and
warrants were recorded at their relative fair