Company: BLIS
Filing Date: 2025-09-11
Form Type: 10-K
Source: 0001199835-25-000302
Chunk: 6

Company: NAPC Defense, Inc.
Filing Date: 2025-09-11
Form: 10-K
Item: Item 8
Chunk 6
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Item
8. Financial Statements and Supplementary Data

NAPC
Defense, Inc.

CONSOLIDATED
FINANCIAL STATEMENTS

April
30, 2025 and 2024

Table
of Contents

                                                                                                  Page  
  Report                                                                                          F-2   
  Report of Independent Registered Public Accounting Firm                                         F-4   
  Consolidated                                                                                    F-5   
  Consolidated                                                                                    F-6   
  Consolidated                                                                                    F-7   
  Consolidated                                                                                    F-8   
  Notes                                                                                           F-9   

F-1

Report
of Independent Registered Public Accounting Firm

To the Stockholders and the Board of Directors of:

NAPC Defense, Inc.

Opinion on the Financial Statements

We have audited the accompanying consolidated balance
sheet of NAPC Defense, Inc. (the “ Company”) as of April 30, 2025, the related consolidated statements of operations, changes
in stockholders’ equity (deficit) and cash flows for the year then ended, and the related notes (collectively referred to as the
“consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material
respects, the consolidated financial position of the Company as of April 30, 2025, and the results of its operations and its cash flows
for the year then ended, in conformity with accounting principles generally accepted in the United States of America.

Going Concern

The accompanying consolidated financial statements
have been prepared assuming that the Company will continue as a going concern. As discussed in Note 2 to the consolidated financial statements,
the Company had a net loss and cash used in operations since inception, and a working capital deficit of $1,146,674, at April 30, 2025.
These matters raise substantial doubt about the Company’s ability to continue as a going concern. Management’s Plan in regard
to these matters is also described in Note 2. The consolidated financial statements do not include any adjustments that might result from
the outcome of this uncertainty.

Basis for Opinion

These consolidated financial statements are the responsibility
of the Company’s management. Our responsibility is to express an opinion on the Company’s consolidated financial statements
based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“ PCAOB”)
and are required to be independent with respect to the Company in accordance with the U. S. federal securities laws and the applicable
rules and regulations of the Securities