Company: BLIS
Filing Date: 2025-03-26
Form Type: 10-Q
Source: 0001199835-25-000092
Chunk: 63

Company: NAPC Defense, Inc.
Filing Date: 2025-03-26
Form: 10-Q
Item: Part I, Item 8
Chunk 63
---
, the Company issued to a related party former director, the amount of 2,525,618 shares for debt conversion and satisfaction
of a note for $50,000, including $25,769 in accrued interest, at the rate of $0.03 per share.   

The
above transactions and amounts are not necessarily what third parties would agree to.

Related
Party Loans

See
Note 6 - Notes Payable for information regarding related party loans.

NOTE
10 – SEGMENT INFORMATION

NAPC
Defenses, Inc’s defense and munitions related business began operations during the nine month period ended January 31, 2025.
Due to the Defense related starting operations which have no relation to the Company’s shipwreck and exploration recovery
business, the Company evaluated this business and its impact upon the existing corporate structure. The Company has determined that
the defense operations and the Company’s treasure and shipwreck operations operate as separate segments of the business. As
such, the Company has presented the income (loss) from operations during the nine month period ended January 31, 2025 incurred
by the two separate segments below.

Segment
information relating to the Company’s two operating segments for the nine month period ended January 31, 2025 is as follows: 

Schedule of Segment Reporting 

    January 31, 2025  
    January 31, 2025  
    January 31, 2025 

    Shipwreck  
    Defense  
    Consolidated 
  
    Revenues 
    $-  
    $67,467  
    $67,467 

    Total operating expenses 
     9,529  
     779,198  
     788,727 

    Net loss from operations 
     (9,529) 
     (711,731) 
     (721,260)

    Other expenses 
     263,949  
     543,787  
     807,736 

    Net income/loss 
    $(273,478) 
    $(1,255,518) 
    $(1,528,996)

    16

Segment
information relating to the Company’s two operating segments for the nine month period ended January 31, 2024 is as follows:

    January 31, 2024  
    January 31, 2024  
    January 31, 2024