Company: BLIS
Filing Date: 2025-09-19
Form Type: 10-K/A
Source: 0001199835-25-000330
Chunk: 18

Company: NAPC Defense, Inc.
Filing Date: 2025-09-19
Form: 10-K/A
Chunk 18
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 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. The Company has developed and will continue to develop its own line of silencers and small arms in pistols, while it has entered
into additional fields of ballistics and other less than lethal products, as well as pursuit of numerous other categories of law enforcement
and defense related technologies. The company has disposed of most all former business line related assets and is focused solely on Defense
and other related industries since April 30, 2025 reporting date.

NOTE 2 – GOING CONCERN

These consolidated financial statements have been
prepared on a going concern basis, which assumes the Company will be able to realize its assets and discharge its liabilities in the
normal course of business for the foreseeable future. The Company has incurred net losses and used net cash in its operations since inception.
Based on its historical rate of expenditures, the Company expects to expend its available cash in less than one month from the issuance
date of these financial statements. Management’s plans include raising capital through the equity markets to fund operations and
the generation of revenue through its business. The Company does not expect to generate any significant revenues for the foreseeable
future. At April 30, 2025, the Company had a net working capital deficit of $1,146,674. The Company is in immediate need of further working
capital and is seeking options, with respect to financing, in the form of debt, equity or a combination thereof.

Failure to raise adequate capital and generate adequate
revenues could result in the Company having to curtail or cease operations. The Company’s ability to raise additional capital through
the future issuances of the common stock is unknown. Additionally, even if the Company does raise sufficient capital to support its operating
expenses and generate adequate revenues, there can be no assurances that the revenue will be sufficient to enable it to develop to a
level where it will generate profits and cash flows from operations. These matters raise substantial doubt about the Company’s
ability to continue as a going concern for a period of twelve months from the issuance of these financial statements; however, the accompanying
consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction
of liabilities in the normal course of business.