Company: BLIS
Filing Date: 2025-02-26
Form Type: 10-Q
Source: 0001199835-25-000051
Chunk: 21

Company: NAPC Defense, Inc.
Filing Date: 2025-02-26
Form: 10-Q
Item: Part I, Item 2
Chunk 21
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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 events or circumstances after the date of such statement or to reflect the occurrence
of anticipated or unanticipated events.

Financial
information contained in this report and in our financial statements is stated in United States dollars and are prepared in accordance
with United States generally accepted accounting principles.

Description
of Business

Overview

NAPC
Defense, Inc. (Formerly Treasure & Shipwreck Recovery, Inc (the “ Company”), was incorporated in the State of Nevada on
October 24, 2016 as Beliss Corp. The Company changed its name to Treasure & Shipwreck Recovery Inc. on June 26, 2019. The Company
is in the colonial era treasure shipwreck recovery business operating salvage crews on the east coast of Florida. On April 1, 2024, the
Company changed its name to NAPC Defense, Inc. with the State of Nevada, for an additional direction in the military arms and law enforcement
field.

Corporate
History

The
Company will produce and supply CornerShot units under license from Silver Shadow of Israel, to both overseas military and governments
as allowed by the US Government, and sales to US based law enforcement agencies. As well the