Company: BLIS
Filing Date: 2025-10-09
Form Type: 10-Q
Source: 0001199835-25-000342
Chunk: 8

Company: NAPC Defense, Inc.
Filing Date: 2025-10-09
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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    $- 

The
accompanying notes are an integral part of these unaudited consolidated financial statements

7

NAPC
Defense, Inc.

NOTES
TO THE CONDENSED CONSOLIDATED UNAUDITED FINANCIAL STATEMENTS

July
31, 2025

NOTE
1 – ORGANIZATION AND NATURE OF BUSINESS

Corporate
History

NAPC
Defense, Inc. was incorporated in the State of Nevada on January 24, 2016 as Beliss Corp. On April 1, 2024, the Company changed its name
to NAPC Defense, Inc. with the State of Nevada to reflect its focus on the military arms and law enforcement field. The Company will
produce and supply CornerShot® units under license from Silver Shadow of Israel to overseas militaries and governments, subject to
U.S. Government approval, as well as to U.S.-based law enforcement agencies. The Company is pursuing contracts for the CornerShot®
system as well as developing its own proprietary line of small arms, including pistols, for commercial and government sales.

Additionally,
the Company has entered into partnerships for the distribution of ballistic protection products through Extremis, and less-than-lethal
products with Lamperd Less Lethal of Canada.

The
Company also intends to sell and has direct lines of sourcing personal ballistics protection for personnel, such as helmets, bullet resistant
vests and shields for overseas sale and domestic sale to US entities. In addition, the Company will use contacts and sources for the
sale of small caliber arms in form of rifles and pistols including newly developing technologies and products for overseas and domestic
sales. Other areas of brokering existing contacts from overseas of larger scale ammunition and artillery from overseas sources is being
followed from known sources of supply for brokered sales to US approved allies and other countries. The brokering of armored vehicles
for domestic purchase and overseas sales is also being pursued. The Company has developed and will continue to develop its own line of
silencers and small arms in pistols, while it has entered into additional fields of ballistics and other less than lethal products, as
well as pursuit of numerous other categories of law enforcement and defense related technologies. The company has disposed of all of former business line related assets
and is focused solely on defense and related industries as of April 30, 2025.

NOTE
2 – GOING CONCERN

These
condensed consolidated financial statements have