Company: BLIS
Filing Date: 2025-03-10
Form Type: 10-Q/A
Source: 0001199835-25-000067
Chunk: 31

Company: NAPC Defense, Inc.
Filing Date: 2025-03-10
Form: 10-Q/A
Chunk 31
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080 and during the three month period ended October
31, 2023 they were $4,752, an increase of approximately 764%. Rent expenses were $75,000 during the three month period ended October
31, 2024 and $0 during the three month period ended October 31, 2023. Rent expenses increased due to the Company leasing a commercial
office and warehouse facility. Legal fees were $15,000 in during the three month period ended October 31, 2024 and $4,215 during the
three month period ended October 31, 2023, a year-over-year increase of approximately 256%. Operating expenses increased during the three
month period ended October 31, 2024 because the Company was transitioning into new ventures.

Other Income (Expense)

Interest expense was $23,524
during the three month period ended October 31, 2024 and $17,516 during the three month period ended October 31, 2023, an increase of
34%. The increase in interest expense during the three month period ended October 31, 2024 was a result of the issuance of new convertible
notes. The Company’s other income (expense) for the three months ended October 31, 2024 also included bad debt expense ($67,467),
amortization of debt discount ($40,244) and impairment of assets ($117,956).

Net Loss

For the three month period ended October 31, 2024 the Company incurred net losses of $453,921 versus net losses of $161,489 for the three month period ended October 31, 2023, a year-over-year increase of approximately 181%.

Liquidity and capital resources

As of October 31, 2024, our total assets were $1,628,919.

As of October 31, 2024, our current
liabilities were $1,003,055 and Stockholders’ equity was $625,864.

As of October 31, 2024 we had
a net working deficit of $990,136.

Cash flows from operating activities

For the six months ended October 31, 2024 net cash flows used in operating activities was $346,369.

For the six months ended October 31, 2023 net cash flows used in operating activities was $306,722.

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Cash flows from financing activities

For the six months ended October 31,