Company: BLIS
Filing Date: 2025-09-19
Form Type: 10-K/A
Source: 0001199835-25-000330
Chunk: 29

Company: NAPC Defense, Inc.
Filing Date: 2025-09-19
Form: 10-K/A
Chunk 29
---
 loan and the balance due to the officer was $0 as of April, 30, 2025.

On February 28, 2025 a limited liability company controlled by a Director of the Company provided a loan to NAPC Defense, Inc., in the amount of $6,000. The loan was unsecured, bears interest at 10.0% per annum and was due on demand. The balance due was $6,000 as of April, 30, 2025.

On March 04, 2025 a limited liability company controlled by a Director of the Company provided a loan to NAPC Defense, Inc., in the amount of $15,000. The loan was unsecured, bears interest at 10.0% per annum and was due on demand. The balance due was $15,000 as of April, 30, 2025.

On March 11, 2025 a limited liability company controlled by a Director of the Company provided a loan to NAPC Defense, Inc., in the amount of $30,000. The loan was unsecured, bears interest at 10.0% per annum and was due on demand. The balance due was $30,000 as of April, 30, 2025.

Short Term Loans

As of April 30, 2025 and April 30, 2024, the Company
had short term loans totaling $22,925 and $2,700 respectively. For the year ended April 30, 2025 short term loans consist of two loans
totaling $2,700 and $20,225. These two loans are unsecured, non-interest bearing and due on demand.

F-14

Year Ended April 30, 2025 New Convertible Notes Payable

On June 14, 2024, the Company entered into a convertible
promissory note agreement with respect to the sale and issuance of: (i) an initial financing fee in the amount of 1,071,430 shares of
the Company’s restricted common stock, and(ii) a promissory note in the aggregate principal amount of $150,000 and (iii) warrants
to purchase 5,357,143 shares at $0.028. The company received proceeds of $135,000 resulting in an original issue discount of $15,000.
The convertible promissory note has a due date of June 14, 2025, and bears interest at the rate of