Company: BLIS
Filing Date: 2025-02-26
Form Type: 10-Q
Source: 0001199835-25-000051
Chunk: 20

Company: NAPC Defense, Inc.
Filing Date: 2025-02-26
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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�──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Non-current deferred tax assets:                                                                                         
  Net operating loss carryforward       $                            5,877,353      $                           4,695,551  
  Tax rate                                                                  21                                         21  
  Deferred tax asset                                                 1,234,244                                    986,066  
  Valuation allowance                                               (1,234,244                                   (986,066  
  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
lack of profitability since inception management does not believe that there is any income tax liability for past years.

NOTE
12 - SUBSEQUENT EVENTS

Subsequent
to October 31, 2024 the Company issued the following shares of restricted common stock as follows:

  750,000                                                           

  33,402,537                  

  500,000                                        

  33,402,537 shares for financing fees;  

  1,750,000                                         

  1,000,000 shares were issued for consulting services;  

  266,667                                                            

  100,000                                               

Subsequent
to October 31, 2024 the Company entered into the following convertible note agreements and loans:

  A                                                                                                                                      

  A                                                                                                                                      

  A                                                                                                                                     

  A                                                                                                                                       

  A                                                                                                                                     

  A convertible note with a face value of $5,000, an annual rate                                    

  A                                                                                                                            

  A                                                                                                                           

ITEM
2. MANAGEMENT’ S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS