Company: BLIS
Filing Date: 2025-09-11
Form Type: 10-K
Source: 0001199835-25-000302
Chunk: 31

Company: NAPC Defense, Inc.
Filing Date: 2025-09-11
Form: 10-K
Item: Item 8
Chunk 31
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30, 2025 and 2024, the
balance of accrued interest for the Company’s related party short term loans was $757 and $0, respectively. As of April 30, 2025
and 2024, the balance of accrued interest for the Company’s short term loans was $7,180 and $3,602, respectively.

NOTE
6 - STOCKHOLDERS’ DEFICIT

Common
Stock

On February 20, 2025, the Company filed with the
State of Nevada to increase the authorized shares of the Corporation from 300,000,000 common shares to 500,000,000 common shares. Such
filing was processed to be effective with the State of Nevada on February 20, 2025. At April 30, 2025 the Company had 500,000,000
authorized shares of common stock.

During the year ended April 30, 2025 NAPC Defense,
Inc. issued 69,851,625 shares of the Company’s restricted common stock, including:

  3,659,524 shares with warrants under subscription                                                       
  20,976,467 shares for $422,351 of principal, interest and fees converted at the contractual conversion  

  5,866,667 shares with a fair value of $173,653 based                                                                                

  31,596,430                                                                                         

  4,902,537                                                                                     

  1,100,000                                                                            

  1,750,000                                      

Series
A Preferred Stock

On
May 1, 2020, the Company’s Board authorized the creation of 100 Series A preferred shares. The Series A preferred shares was planned
to pay a quarterly payment based upon treasure operations under the former business operations for revenue sharing, which all 100 Series
A preferred shares were to receive twenty percent of the operations from recoveries at sea at the time. Each Series A preferred share
was priced at $4,000 with a minimum purchase of three Series A preferred shares and are only eligible to be purchased by accredited investors.
The Series A preferred shares are not convertible into common shares and are subject to all other restrictions on securities as set forth.

At
April 30, 2025 and 2024 the Company had 51 shares of Series A preferred shares outstanding.

F-18

Warrants

The
following table reflects the warrants outstanding at April 30, 2025 and 2024: