Company: BLIS
Filing Date: 2025-03-26
Form Type: 10-Q
Source: 0001199835-25-000092
Chunk: 0

Company: NAPC Defense, Inc.
Filing Date: 2025-03-26
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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The
accompanying interim financial statements of NAPC Defense, Inc. formerly Treasure & Shipwreck Recovery, Inc. (“the Company”,
“we”, “us” or “our”), have been prepared without audit pursuant to the rules and regulations of the
Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in
accordance with United States generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations.

The
interim financial statements are condensed and should be read in conjunction with the Company’s latest annual financial statements.
The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States
of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10
of Regulation S-X. Accordingly, since they are interim statements, the accompanying financial statements do not include all the information
and notes required by GAAP for complete financial statement presentation.

In
the opinion of management, the financial statements contain all material adjustments, consisting only of normal adjustments considered
necessary to present fairly the financial condition, results of operations, and cash flows of the Company for the interim periods presented. 

3

    NAPC
    Defense, Inc.
  
    CONDENSED
    CONSOLIDATED BALANCE SHEETS
  
    As
    of January 31, 2025 and April 30, 2024

    January 31, 2025  
    April 30, 2024 

    Unaudited  

    ASSETS 

    Current assets: 

    Cash 
    $15,686  
    $- 
  
    Prepaid consulting fees 
     -  
     54,599 
  
    Total current assets 
     15,686  
     54,599 

    Fixed assets, net of depreciation 
     -  
     143,732 
  
    Prepaid product rights 
     -  
     1,615,000 
  
    Intangible assets 
     1,615,000  
     - 
  
    Security deposit 
     1,000  
     1,000 
  
    Total Assets 
    $1,631,686  
    $1,814,331 

    LIABILITIES AND STOCKHOLDERS’ EQUITY 

    Current liabilities: 

    Accounts payable 
    $