Company: BLIS
Filing Date: 2025-09-11
Form Type: 10-K
Source: 0001199835-25-000302
Chunk: 35

Company: NAPC Defense, Inc.
Filing Date: 2025-09-11
Form: 10-K
Item: Item 8
Chunk 35
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 See Note 8 - Related Party Transactions. Due to
the short term nature of the lease the Company has determined that the lease is not subject to accounting under ASC 842. Rent expense
for the year ended April 30, 2025 was $315,070. At April 30, 2025 the Company had a payable of $25,000 for rent.

NOTE
8 - RELATED PARTY TRANSACTIONS

Period
ended April 30, 2025:

On May 1, 2024, NAPC Defense, Inc. entered into a
lease agreement for 13,000 square feet of commercial office space and 40,000 square feet of warehousing and parking with a related party,
with base month rent of $25,000 (See Note 7).

Period
ended April 30, 2024:

On
March 26, 2024 The Company entered into an Agreement for Acquisition (the “ Agreement”) with a disabled veteran Native American
and woman owned limited liability company, Native American Pride Constructors, LLC, that is involved with government construction contracts
as its primary business, and has access to a license opportunity with intellectual property rights as held, the business leads, letter
of intent for overseas sales overseas opportunity for Saudi Arabia, other foreign sales of arms related items under US approved transactions, and
matters specified in the agreement subject to final approval of the enumerated items, to be acquired by the Company and in exchange for
restricted common share of the Company. The Board determined that it would enter the defense and law enforcement arena as an additional
business realm and is only acquiring rights to such defense related contracts, rights, defense business model, and the identified persons
to build the defense industry business arm. The Company did not acquire any interest in the limited liability company, but starting its
own defense related business, while purchasing the potential contract rights, and other matters.

The Company issued 95,000,000 shares of its restricted
common stock valued at $1,615,000 and shown on the accompanying consolidated balance sheet as prepaid product rights as of April 30,
2024 to the limited liability company. The Company elected to classify the shares as a prepaid asset pending the closing of the deal.
The shares were issued for purchase of the business rights, leads, and contracts and are subject to issuance under control of the Company’s
prior president until sign off and final determination of certain contingent terms and conditions. The shares were valued based on the
closing price of the