Company: BLIS
Filing Date: 2025-02-26
Form Type: 10-Q
Source: 0001199835-25-000051
Chunk: 0

Company: NAPC Defense, Inc.
Filing Date: 2025-02-26
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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Item
1. Financial Statements

The
accompanying interim financial statements of NAPC Defense, Inc. formerly Treasure & Shipwreck Recovery, Inc. (“the Company”,
“we”, “us” or “our”), have been prepared without audit pursuant to the rules and regulations of the
Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in
accordance with United States generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations.

The
interim financial statements are condensed and should be read in conjunction with the Company’s latest annual financial statements.
The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States
of America (“ GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10
of Regulation S-X. Accordingly, since they are interim statements, the accompanying financial statements do not include all the information
and notes required by GAAP for complete financial statement presentation.

In
the opinion of management, the financial statements contain all material adjustments, consisting only of normal adjustments considered
necessary to present fairly the financial condition, results of operations, and cash flows of the Company for the interim periods presented.

  NAPC Defense, Inc.                     
  CONDENSED CONSOLIDATED BALANCE SHEETS  
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                                                                                                                                                                                     October 31, 2024                      April 30, 2024                  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                                                                                                                                                                     Unaudited                                                             
  ASSETS                                                                                                                                                                                                                                                   
  Current assets:                                                                                                                                                                                                                                          
  Cash                                                                                                                                                                               $                         12,919      $                            -  
  Prepaid consulting fees                                                                                                                                                                                           -                              54,599  
  Total current assets                                                                                                                                                                                         12,919                              54,599  
  Fixed assets, net of depreciation                                                                                                                                                                                 -                             143,732  
  Prepaid product rights                                                                                                                                                                                            -                           1,615,000  
  Intangible assets                                                                                                                                                                                         1,615,000                                   -  
  Security deposit                                                                                                                                                                                              1,000                               1,000  
  Total Assets                                                                                                                                                                       $                      1,628,919      $                    1,814,331  
  LIABILITIES AND STOCKHOLDERS’ EQUITY                                                                                                                                                                                                                     
  Current liabilities: