Company: BLIS
Filing Date: 2025-02-26
Form Type: 10-Q
Source: 0001199835-25-000051
Chunk: 8

Company: NAPC Defense, Inc.
Filing Date: 2025-02-26
Form: 10-Q
Item: Part I, Item 1
Chunk 8
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 summarized below:

  Fixed Assets                       October 31, 2024                    April 30, 2024               
  Diving Vessel                      $                     -             $                    36,390  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────
  Magnetometer                                             -                                  24,000  
  Diving Vessel (Boston Whaler)                            -                                  10,800  
  Diving Vessel (Commander)                                137,425                           137,425  
  Accumulated Depreciation                                 (137,425                          (64,883  
  Fixed Assets, Net                  $                     -             $                   143,742  

Depreciation
expense was $3,436 and $8,611 for the six month periods ended October 31, 2024 and 2023, respectively.

During the six month period
ended October 31, 2024, the Company’s management elected to write off the balance of three of its vessels used in its treasure
search and recovery operations. The total amount that was written off net of depreciation was $140,296.

NOTE
5 - INTELLECTUAL PROPERTY INCLUDING PRODUCT RIGHTS, CONTRATUAL RIGHTS AND RELATED INFORMATION

On
March 26, 2024 The Company entered into an Agreement for Acquisition (the “ Agreement”) with a disabled veteran Native American
and woman owned limited liability company, Native American Pride Constructors, LLC, (“ NAPC, LLC”) that is involved with government
construction contracts as its primary business, and has access to a license opportunity with intellectual property rights as held, the
business leads, letter of intent for overseas sales overseas opportunity for Saudi Arabia, other foreign sales of arms related items
under US approved transactions, and matters specified in the agreement subject to final approval of the enumerated items, to be
acquired by the Company and in exchange for restricted common share of the Company. The Board determined that it would enter the defense
and law enforcement arena as an additional business realm and is only acquiring rights to defense relate product rights and the complimentary
knowledge, expertise, experience and business contacts in order to manufacture, market, distribute and broker the product. The Company
did not acquire any interest in the limited liability company, but starting its own defense related business, while purchasing the product
rights.

In
March of 2024 the Company issued 95,000,000 shares of its restricted common stock valued at $1,615,000 to NAPC, LLC