Company: BLIS
Filing Date: 2025-02-26
Form Type: 10-Q
Source: 0001199835-25-000051
Chunk: 18

Company: NAPC Defense, Inc.
Filing Date: 2025-02-26
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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968  

Segment information relating to the Company’s
two operating segments for the three month period ended October 31, 2024 is as follows:

                                October 31, 2024                    October 31, 2024                    October 31, 2024                
                                Shipwreck                           Defense                             Consolidated                    
  Revenues                      $                            -      $                            -      $                            -  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Total operating expenses                                 667                             204,063                             204,730  
  Net loss from operations                                (667                            (204,063                            (204,730  
  Other expenses                                       117,956                             131,235                             249,191  
  Net income/loss               $                     (118,623      $                     (335,298      $                     (453,921  

Segment information relating
to the Company’s two operating segments for the three month period ended October 31, 2023 is as follows:

                                October 31, 2023                    October 31, 2023      October 31, 2023                
                                Shipwreck                           Defense               Consolidated                    
  Revenues                      $                            -      $                     $                            -  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Total operating expenses                             143,973                                                   143,973  
  Net loss from operations                            (143,973                                                  (143,973  
  Other expenses                                        17,516                                                    17,516  
  Net income/loss               $                     (161,489      $                     $                     (161,489  

NOTE
11 - SERVICES REVENUE

The
Company’s revenue in the six month period ended October 31, 2024 was from ammunition and military equipment consulting services
to a private company in Saudi Arabia. Management is providing the consulting services and is not receiving
a salary or directly receiving any portion of this revenue

NOTE
12 - INCOME TAXES

The
Company adopted the provisions of uncertain tax positions as addressed in ASC 740-10-65-1. The Company has no tax position at October
31, 2024 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility.
The Company does recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses.
No such interest or penalties were recognized during