Company: BLIS
Filing Date: 2025-03-26
Form Type: 10-Q
Source: 0001199835-25-000092
Chunk: 84

Company: NAPC Defense, Inc.
Filing Date: 2025-03-26
Form: 10-Q
Item: Part I, Item 2
Chunk 84
---
 vests and shields for overseas sale and domestic
sale to US entities. In addition, the Company will use contacts and sources for the sale of small caliber arms in form of rifles and
pistols including newly developing technologies and products for overseas and domestic sales. Other areas of brokering existing contacts
from overseas of larger scale ammunition and artillery from overseas sources is being followed from known sources of supply for brokered
sales to US approved allies and other countries. The brokering of armored vehicles for domestic purchase and overseas sales is also being
pursued.

20

By
March 2024, the board determined and entered into an acquisition agreement for the acquisition of the rights, intellectual property,
and associated contracts, letters of intent, and assets from Native American Pride Constructors, LLC for acquisition of certain rights
to sale and production of the CornerShot firearms and surveillance technology, owned by Silver Shadow of Israel and licensed to Native
American Pride Constructors LLC (Native American), and other associated leads and rights into the defense industry, including munitions
brokering overseas under United Stated State Department Approval for artillery, rocket, and other munitions sales from off shore sources
to U.S. approved allies and other countries. Native American held rights to a number of ATF licenses for sale and production of arms,
was a party to a transaction for potential contract and sale of the Cornershot to Saudi Arabia and for sale in the US, and held large
access to broker munitions under US approval overseas, from foreign sourced to US Allies and approved countries.

In
addition, other defense lines of technology development including small arms, suppressor technology development business, and other items
of opportunity held by Native American Pride Constructors LLC, the board determined that an acquisition agreement of such rights was
in the best interest of the Company to pursue as an additional business direction while maintaining its treasure related business. Such
agreement was reached on March 26, 2024, however, was subject to further diligence and verification of the list of acquired rights and
business plans with a close out date of May 1, 2024 and sign off by NAPC Defense, Inc./BLIS by the CEO for release of the consideration
to be made for the purchase of such rights. The board concluded that the addition of this business direction was in the best interest
of the Company, regardless of the specific acquisition transaction closing. Pursuant to the March 26, 2024 agreement such acquisition
of rights was made for 95