Company: BLIS
Filing Date: 2025-09-19
Form Type: 10-K/A
Source: 0001199835-25-000330
Chunk: 17

Company: NAPC Defense, Inc.
Filing Date: 2025-09-19
Form: 10-K/A
Chunk 17
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     | $                   |          - |   |     | $              |         - |   |
| Supplemental disclosures of non-cash investing and financing activities:   |     |                     |            |   |     |                |           |   |
| Warrants issued with convertible notes                                     |     | $                   |    292,832 |   |     | $              |         - |   |
| Conversion of notes payable & accrued interest                             |     | $                   |    596,004 |   |     | $              |   367,578 |   |
| Common stock issued as commitment fees recorded as debt discount           |     | $                   |    144,108 |   |     | $              |         - |   |
| Deemed dividend                                                            |     | $                   |     82,913 |   |     | $              |         - |   |
| Product rights prepaid in common stock                                     |     | $                   |          - |   |     | $              | 1,615,000 |   |

<div align='center'>See accompanying notes to the consolidated financial statements.

F-8</div>

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