Company: BLIS
Filing Date: 2025-10-09
Form Type: 10-Q
Source: 0001199835-25-000342
Chunk: 67

Company: NAPC Defense, Inc.
Filing Date: 2025-10-09
Form: 10-Q
Item: Part I, Item 8
Chunk 67
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 during the year ended April 30, 2024 to cover various operating
expenses. The loan balance is convertible into the shares of NAPC Defense, Inc. at the discretion of the NAPC, LLC at a rate of $0.03
per share. The note does not pay interest and there is no specific time frame for repayment of the principal balance. During the year
ended April 30, 2025 the Company repaid $59,689 of principal to NAPC, LLC. The balances owed on the note were $4,102 as of July 31, 2025
and April 30, 2025, respectively.

Related
Party Short Term Loans

On
February 28, 2025 a limited liability company controlled by a Director of the Company provided a loan to NAPC Defense, Inc., in the amount
of $6,000. The loan was unsecured, bears interest at 10.0% per annum and was due on demand. The balance due was $6,000 as of July 31,
2025 and April 30, 2025, respectively.

On
March 04, 2025 a limited liability company controlled by a Director of the Company provided a loan to NAPC Defense, Inc., in the amount
of $15,000. The loan was unsecured, bears interest at 10.0% per annum and was due on demand. The balance due was $15,000 as of July 31,
2025 and April 30, 2025, respectively.

On
March 11, 2025 a limited liability company controlled by a Director of the Company provided a loan to NAPC Defense, Inc., in the amount
of $30,000. The loan was unsecured, bears interest at 10.0% per annum and was due on demand. The balance due was $30,000 as of July 31,
2025 and April 30, 2025, respectively.

On
June 23, 2025  a Director of the Company provided a loan to NAPC Defense, Inc., in the amount
of $18,800. The loan was unsecured, bears interest at 10.0% per annum and was due on demand. During the three months ended July 31, 2025
the Company repaid $9,000 of this loan. The balance due was $9,800 as of July 31,