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

Company: NAPC Defense, Inc.
Filing Date: 2025-09-11
Form: 10-K
Item: Item 8
Chunk 10
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 Corp. On April 1, 2024, the Company changed its name
to NAPC Defense, Inc. with the State of Nevada to reflect its focus on the military arms and law enforcement field. The Company will
produce and supply CornerShot® units under license from Silver Shadow of Israel to overseas militaries and governments, subject to
U. S. Government approval, as well as to U. S.-based law enforcement agencies. The Company is pursuing contracts for the CornerShot®
system as well as developing its own proprietary line of small arms, including pistols, for commercial and government sales.

Additionally,
the Company has entered into partnerships for the distribution of ballistic protection products through Extremis, and less-than-lethal
products with Lamperd Less Lethal of Canada.

The Company also intends to sell and has direct lines
of sourcing personal ballistics protection for personnel, such as helmets, bullet resistant 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. 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