Company: BLIS
Filing Date: 2025-09-11
Form Type: 10-K
Source: 0001199835-25-000302
Chunk: 5

Company: NAPC Defense, Inc.
Filing Date: 2025-09-11
Form: 10-K
Item: Item 7
Chunk 5
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 and
2024 raises substantial doubt as to our ability to continue as a going concern. If the Company is not able to continue as a going concern,
it is highly likely that all capital invested in the Company will be lost.

Management
believes that current trends toward lower capital investment in start-up companies pose the most significant challenge to the Company’s
success over the next year and in future years. Additionally, the Company will have to meet all the financial disclosure and reporting
requirements associated with being a publicly reporting company. The Company’s management will have to spend additional time on
policies and procedures to make sure it is compliant with various regulatory requirements, especially that of Section 404 of the Sarbanes-Oxley
Act of 2002. This additional corporate governance time required of management could limit the amount of time management has to implement
its business plan and impede the speed of its operations.

Recently
Issued Accounting Pronouncements

For a description of accounting changes and recent
accounting standards, including the expected dates of adoption and estimated effects, if any, on our consolidated financial statements,
see " Note 3: Recent Accounting Pronouncements" in the consolidated financial statements filed with this Annual Report.

Off-Balance
Sheet Arrangements

The
Company has no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on its financial
condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources.

Item
7A. Quantitative and Qualitative Disclosures about Market Risk