Company: BLIS
Filing Date: 2025-10-09
Form Type: 10-Q
Source: 0001199835-25-000342
Chunk: 108

Company: NAPC Defense, Inc.
Filing Date: 2025-10-09
Form: 10-Q
Item: Part I, Item 2
Chunk 108
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, 2025 is largely attributable to decreases in general
and administrative expense of $107,576, rent expense of $66,999 and legal fees of $18,440. These decreases offset increases in consulting
and accounting expenses of $82,969 and professional fees of $51,112 and research and development of $2,023. 

Other
Expenses

Total
other expenses were $326,193 during the three month period ended July 31, 2025 and $156,491 during the three month period ended July
31, 2024, an increase of $169,702 or 108.4%. Other expenses increased during the three month period ended July 31, 2025 primarily due
to an increases of $177,802 for amortization of debt discount and an increase of $100,312 in financing fees which offset a $123,653
decrease in loss on extinguishment of debt.

Discontinued
Operations

During
the three month period ended July 31, 2025, the Company had a loss from operations of discontinued operations of $0.

During
the three month period ended July 31, 2024, the Company had a loss from operations of discontinued operations of $31,869.

Net
Loss

For
the year ended three month period ended July 31, 2025 the Company incurred net losses of $584,252 versus net losses of $435,863, for
three month period ended July 31, 2024. The increase in net loss of $148,389 during the three month period ended July 31, 2025 was primarily
due to increases in loss from other expenses.

Deemed
Dividend

During
the three month period ended July 31, 2025, the Company had a deemed dividend of $117,629 related to a price protection exercise price
adjustment on warrants.

Net
Loss Applicable To Common Stockholders

During
the three month period ended July 31, 2025, net loss applicable to common stockholders was $701,881. During the three month period ended
July 31, 2024, net loss applicable to common stockholders was $435,863.

Liquidity
and capital resources

As
at July 31, 2025, our total assets were $136,902 and our total liabilities were $1,582,743.

As
at July 31, 2025, our current assets were $