Company: BLIS
Filing Date: 2025-09-11
Form Type: 10-K
Source: 0001199835-25-000302
Chunk: 39

Company: NAPC Defense, Inc.
Filing Date: 2025-09-11
Form: 10-K
Item: Item 8
Chunk 39
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  Non-current deferred tax assets:                                                                            
  Net operating loss carryforward       $                     6,232,797      $                     4,987,569  
  Tax rate                                                           21                                   21  
  Deferred tax asset                                          1,308,887                            1,047,389  
  Valuation allowance                                        (1,308,887                           (1,047,389  
  Net deferred tax assets               $                             -      $                             -  

The
Company is currently in the process of gathering the information necessary for filing tax returns for past years, due to the Company’s
net losses every year since inception management does not believe that there is any income tax liability for past years.

F-22

NOTE
12 - SUBSEQUENT EVENTS

Subsequent
to April 30, 2025 the Company issued the following shares of restricted common stock and warrants as follows:

  21,125,000                                                                                  

  4,535,714                                                               

  8,968,041                                                                                    

  1,377,778                                                             

  20,910,714                                                                      

Subsequent
to April 30, 2025 the Company entered into the following convertible note agreements and loans:

  A convertible note dated May 2, 2025 with a face value                                                                                       

  A convertible note dated May 2, 2025 with a face value                                                                                       

  A convertible note dated May 19, 2025 with a face                                                                                  
  value of $5,000, an original issue discount of $500, proceeds to the Company of $4,500, an annual rate of interest of 10% that is  
  convertible into shares at $0.02 and that is due on May 20, 2026;                                                                  
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  A loan dated June 23, 2025 in the amount of $18,800                                                               

  A convertible note dated June 23, 2025 with a face                                                                                
  value of $50,000, proceeds to the Company of $50,000, an annual rate of interest of 10% that is convertible into shares at $0.01  
  and that is due on June 24, 2026;                                                                                                 
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