Company: BLIS
Filing Date: 2025-03-26
Form Type: 10-Q
Source: 0001199835-25-000092
Chunk: 68

Company: NAPC Defense, Inc.
Filing Date: 2025-03-26
Form: 10-Q
Item: Part I, Item 8
Chunk 68
---
,
accrued interest and fees of convertible notes;

    -
    500,000 shares of restricted common stock that were due under a subscription agreement;

    -
    500,000 warrants with an exercise price of $0.02 that were due under a
    subscription agreement; and

Subsequent to January 31, 2025 the Company entered into the following convertible
note agreements and loans:

    -
    
    A loan dated February 28, 2025 in the amount of $6,000 with one of the
    Company’s Directors. The loan has an annual interest rate of 10%, is guaranteed by the Company and is due on demand.

    -
    A loan dated March 04, 2025 in the amount of $15,000 with one of the Company’s
    Directors. The loan has an annual interest rate of 10%, is guaranteed by the Company and is due on demand.

    -
    A loan dated March 11, 2025 in the amount of $30,000 with one of the Company’s
    Directors. The loan has an annual interest rate of 10%, is guaranteed by the Company and is due on demand.

19

ITEM
2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Forward-looking
statements

Statements
made in this Form 10-Q that are not historical or current facts are “forward-looking statements” made pursuant to the safe
harbor provisions of Section 27A of the Securities Act of 1933 (the “Act”) and Section 21E of the Securities Exchange Act
of 1934. These statements often can be identified by the use of terms such as “may,” “will,” “expect,”
“believe,” “anticipate,” “estimate,” “approximate” or “continue,” or the
negative thereof. We intend that such forward-looking statements be subject to the safe harbors for such statements. We wish to caution
readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Any forward-looking
statements represent management’s best judgment as to what may occur in the future. However, forward-looking statements are subject
to risks, uncertainties and important factors beyond our control that could cause actual results and events to differ materially from
historical results of operations and events and those presently anticipated or projected. We disclaim any obligation subsequently to
revise any forward-looking statements to reflect