Company: BLIS
Filing Date: 2025-09-19
Form Type: 10-K/A
Source: 0001199835-25-000330
Chunk: 35

Company: NAPC Defense, Inc.
Filing Date: 2025-09-19
Form: 10-K/A
Chunk 35
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, 2023. The Company issued 8,354,717 shares of the its restricted common stock
for the conversion of $150,000 of the principal balance, $23,916 of accrued interest, and $60,000 of fees for this note. The transaction
completely settled the note and the principle balance of the note at April 30, 2025 is $0.

On May 19, 2021, the Company entered into a convertible
note payable with a corporation. The note payable, had an original face value of $150,000, including a $15,000 original issue discount,
bears interest at 10.0% per annum and was due on February 19, 2023. This note is currently in default due to non payment of principle
and accrued interest. The convertible note payable is convertible, at the holder’s option, into the Company’s common shares
at a fixed conversation rate of $0.10. During the year ended April 30, 2025 the Company made a $64,280 adjustment to the principal balance
of this note to account for fees and interest charged by the lender. The Company issued 3,121,750 shares of its restricted common stock for the conversion of $34,280 of principal, $76,537 of accrued interest, and $1,730 of fees of this note.The principle balance of the note at April 30, 2025 is $180,000.

F-16

On December 6, 2021, the Company entered into a convertible
note payable with a corporation. The note payable, with an original face value of $70,666, including a $17,666 original issue discount,
bears interest at 15.0% per annum and was due on February 6, 2023. This note is currently in default due to non payment of principle
and accrued interest. The convertible note payable is convertible, at the holder’s option, into the Company’s common shares
at a fixed conversation rate of $0.10. During the year ended April 30, 2025 the Company made a $56,533 adjustment to the principal balance
of this note to account for fees and interest charged by the lender. The Company issued 9,500,000 shares of its restricted common stock valued at $110,000 for the conversion of $67,139 of the principal balance and $69,055 of accrued interest of this note.The principle balance of the