Company: BLIS
Filing Date: 2025-02-26
Form Type: 10-Q
Source: 0001199835-25-000051
Chunk: 17

Company: NAPC Defense, Inc.
Filing Date: 2025-02-26
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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See
Note 6 - Notes Payable for information regarding related party loans.

NOTE
10 - SEGMENT INFORMATION

NAPC
Defenses, Inc’s defense and munitions related business began operations during the six month period ended October 31, 2024. Due
to the Defense related starting operations which have no relation to the Company’s shipwreck and exploration recovery business,
the Company evaluated this business and its impact upon the existing corporate structure. The Company has determined that the defense
operations and the Company’s treasure and shipwreck operations operate as separate segments of the business. As such, the Company
has presented the income (loss) from operations during the six month period ended October 31, 2024 incurred by the two separate
segments below.

Segment
information relating to the Company’s two operating segments for the six month period ended October 31, 2024 is as follows:

                                October 31, 2024                    October 31, 2024                    October 31, 2024                
                                Shipwreck                           Defense                             Consolidated                    
  Revenues                      $                            -      $                       67,467      $                       67,467  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Total operating expenses                              10,196                             519,033                             529,229  
  Net loss from operations                             (10,196                            (451,566                            (461,762  
  Other expenses                                       263,949                             164,073                             428,022  
  Net income/loss               ($                    (274,145      ($                    (615,639      ($                    (889,784  

Segment
information relating to the Company’s two operating segments for the six month period ended October 31, 2023 is as follows:

                                October 31, 2023                    October 31, 2023      October 31, 2023                
                                Shipwreck                           Defense               Consolidated                    
  Revenues                      $                            -      $                     $                            -  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Total operating expenses                             387,861                                                   387,861  
  Net loss from operations                            (387,861                                                  (387,861  
  Other expenses                                        32,107                                                    32,107  
  Net income/loss               $                     (419,968      $                     $                     (419,