Company: BLIS
Filing Date: 2025-09-19
Form Type: 10-K/A
Source: 0001199835-25-000330
Chunk: 38

Company: NAPC Defense, Inc.
Filing Date: 2025-09-19
Form: 10-K/A
Chunk 38
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 2025, the Company filed with the
State of Nevada to increase the authorized shares of the Corporation from 300,000,000 common shares to 500,000,000 common shares. Such
filing was processed to be effective with the State of Nevada on February 20, 2025. At April 30, 2025 the Company had 500,000,000
authorized shares of common stock.

During the year ended April 30, 2025 NAPC Defense,
Inc. issued 69,851,625 shares of the Company’s restricted common stock, including:

| - | 3,659,524 shares with warrants under subscription                                                      
 agreements for total proceeds of $95,000;                                                              |
| - | 20,976,467 shares for $422,351 of principal, interest and fees converted at the contractual conversion 
 rate.                                                                                                  |

| - | 5,866,667 shares with a fair value of $173,653 based                                                                               
 on the closing market price on the conversion upon conversion of the principle, accrued interest and fees of a convertible note at 
 a conversion price different than the contractual price in the amount of $125,655, resulting in a loss on debt extinguishment of   
 $47,998;                                                                                                                           |

| - | 31,596,430                                                                                        
 shares valued at $148,608 based on the closing price on the date of issuance for loan origination 
 fees and stock subscription commitment fees;                                                      |

| - | 4,902,537                                                     
 shares valued at                                              
 $248,050                                                      
 based on the closing                                          
 market price on the date of issuance for loan financing fees; |

| - | 1,100,000                                                                           
 shares for various services provided, valued at $13,560 based on the closing market 
 price of the common shares on the grant dates; and                                  |

| - | 1,750,000                                     
 shares for the cashless exercise of warrants. |

Series A Preferred Stock

On May 1, 2020, the Company’s Board authorized the creation of 100Series A preferred shares. The Series A preferred shares was planned to pay a quarterly payment based upon treasure operations under the former business operations for revenue sharing, which all 100 Series A preferred shares were to receive twenty percent of the operations from recoveries at sea at the time. Each Series A preferred share was priced at $4,000 with a minimum purchase of three Series A preferred shares and