Company: BLIS
Filing Date: 2025-03-26
Form Type: 10-Q
Source: 0001199835-25-000092
Chunk: 76

Company: NAPC Defense, Inc.
Filing Date: 2025-03-26
Form: 10-Q
Item: Part I, Item 8
Chunk 76
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month period ended January 31, 2024, a year-over-year increase of $551,466.

Liquidity
and capital resources

As
of January 31, 2025, our total assets were $1,631,686.

As
of January 31, 2025, our current assets were $15,686, our current liabilities were $1,051,067 and Stockholders’ equity was
$580,569.

As
of January 31, 2025 we had a net capital working deficit of $1,035,381.

Cash
flows from operating activities

For
the nine months ended January 31, 2025 net cash flows used in operating activities was $639,609.

For
the nine months ended January 31, 2024 net cash flows used in operating activities was $380,148.

23

Cash
flows from financing activities

For
the nine months ended January 31, 2025 we have generated $655,295 in cash flows from financing activities.

For
the nine months ended January 31, 2024 we have generated $173,426 in cash flows from financing activities.

We
qualify as a “smaller reporting company” under the JOBS Act. As a result, we are permitted to, and intend to, rely on exemptions
from certain disclosure requirements.

For
example, smaller reporting companies are not required to provide a compensation discussion and analysis under Item 402(b) of Regulation
S-K or the auditor attestation of internal controls over financial reporting.

Future
Financings

We
will continue to rely on equity sales of the Company’s common shares in order to continue to fund business operations. Issuances
of additional shares will result in dilution to existing shareholders. There is no assurance that the Company will achieve any additional
sales of equity securities or arrange for debt or other financing to fund planned operations.

Liquidity
and Capital Resources and Cash Requirements

As
of the date of this report, the current funds available to the Company will not be sufficient to continue maintaining a reporting status.
At January 31, 2025, the Company had a working capital deficit of $1,035,381. The Company is in immediate need of further working capital
and is seeking options, with respect to financing, in the form of debt, equity or a combination thereof. Based on its historical rate
of expenditures, the Company expects to expend its available cash in less than one