OTC: BLIS
NAPC Defense, Inc.CIK 0001703625 · SIC 7310 · Services to Buildings
NAPC Defense, Inc. (the “Company”) was incorporated in the State of Nevada on January 24, 2016 as Beliss Corp. The Company changed its name on April 1, 2024, to NAPC Defense, Inc. with the State of Nevada to reflect its new business focus. The Company is engaged in activities in the defense and… About this business →
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Latest financial statements
From 10-K/A filed Aug 21, 2026 (period ending Apr 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Consolidated Statements of Operations
| Description | Years ended April 30, 2026 | Years ended April 30, 2025 |
|---|---|---|
| Revenue, Related Party | 1,421,220 | - |
| Cost of sales, (includes $30,000 related party) | 2,112,770 | |
| Gross profit | (691,550) | - |
| Operating expenses | ||
| General and administrative | 618,677 | 1,832,398 |
| Consulting | 387,455 | 274,864 |
| Rent | 150,368 | 315,070 |
| Professional fees | 136,163 | 4,054 |
| Legal fees | 54,513 | 42,942 |
| Research and development | 6,126 | 15,632 |
| Total operating expenses | 1,353,302 | 2,484,960 |
| Loss from operations | (2,044,852) | (2,484,960) |
| Other income (expense) | ||
| Amortization of debt discount | (541,182) | (248,667) |
| Financing fees | (136,552) | (314,772) |
| Loss on extinguishment of debt | - | (47,998) |
| Gain on extinguishment of debt | - | 750 |
| Fair value of warrants | - | (67,000) |
| Interest expense | (159,790) | (70,620) |
| Total other income (expense) | (837,524) | (748,307) |
| Net loss from continuing operations | (2,882,376) | (3,233,267) |
| Discontinued operations | ||
| Loss from operations of discontinued operations | - | (143,732) |
| Total discontinued operations | - | (143,732) |
| Loss before income taxes | (2,882,376) | (3,376,999) |
| Provision for income tax | - | - |
| Net loss | (2,882,376) | (3,376,999) |
| Deemed dividend | (256,096) | (82,913) |
| Net loss applicable to common stockholders | (3,138,472) | (3,459,912) |
| Loss per share basic and diluted - continuing | (0.01) | (0.02) |
| Loss per share basic and diluted - discontinued | (0.00) | (0.00) |
| Loss per share basic and diluted - common | (0.01) | (0.02) |
| Weighted average shares outstanding basic and diluted | 320,200,047 | 200,548,989 |
Consolidated Balance Sheets
| Description | April 30, 2026 | April 30, 2025 |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash | 718,440 | 11,812 |
| Security deposit, related party | 10,000 | - |
| Prepaid expenses | 80,439 | 4,640 |
| Total current assets | 808,879 | 16,452 |
| Security deposit | 4,900 | - |
| Fixed assets, net | 4,676 | - |
| Right of use asset, net | 63,187 | - |
| Total Assets | 881,642 | 16,452 |
| LIABILITIES AND STOCKHOLDERS’ DEFICIT | ||
| Current liabilities: | ||
| Accounts payable | 1,333,407 | 25,000 |
| Accounts payable, related party | 10,000 | - |
| Accrued interest expense | 147,059 | 115,996 |
| Related party advances | 11,128 | 17,726 |
| Customer deposits | 8,700 | 8,700 |
| Convertible notes payable, net of discounts | 1,158,199 | 806,787 |
| Short term loans | 122,925 | 22,925 |
| Related party convertible loan | 60,890 | 64,992 |
| Related party short term loans | - | 51,000 |
| Lease liability current | 33,737 | - |
| Contingent liabilities | 50,000 | 50,000 |
| Total current liabilities | 2,936,045 | 1,163,126 |
| Long term liabilities: | ||
| Lease liability | 42,816 | - |
| Total Liabilities | 2,978,861 | 1,163,126 |
| Commitments and Contingencies (Note 8) | ||
| Stockholders’ Deficit | ||
| Preferred stock, $0.001 par value; 100 shares authorized, 51 shares issued and outstanding. Voting control preferred stock, $0.001 par value; 70 shares authorized, 70 shares issued and outstanding, issued January 22, 2026. | - | - |
| Common stock, par value $0.001; 2,000,000,000 shares authorized, 444,899,171 and 238,251,927 shares issued and outstanding at April 30, 2026 and April 30, 2025, respectively | 444,920 | 238,269 |
| Common stock to be issued (687,500 and 1,187,500 at April 30, 2026 and 2025) | 118,500 | 120,432 |
| Additional paid-in capital | 8,925,314 | 6,942,106 |
| Accumulated deficit | (11,585,953) | (8,447,481) |
| Total Stockholders’ Deficit | (2,097,219) | (1,146,674) |
| Total Liabilities and Stockholders’ Deficit | 881,642 | 16,452 |
Consolidated Statements of Cash Flows
| Description | Years ended April 30, 2026 | Years ended April 30, 2025 |
|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income (loss) | (2,882,376) | (3,376,999) |
| Adjustment to reconcile net loss to net cash used in operating activities: | ||
| Depreciation | 1,824 | 3,436 |
| Stock issued for services | 588,869 | 13,560 |
| Amortization of debt discount | 541,182 | 248,667 |
| Fair value of warrants | - | 67,000 |
| Warrants issued for services | 17,857 | - |
| Non-cash financing fees | 136,552 | 314,787 |
| Loss on impairment of assets | - | 1,755,296 |
| Loss on extinguishment of debt | - | 47,998 |
| Gain on extinguishment of debt | - | - |
| Non-cash rent expense | 13,366 | - |
| Changes in operating assets and liabilities: | ||
| (Increase) decrease in deposits | (14,900) | 1,000 |
| (Increase) decrease in prepaid expenses | (36,718) | 49,959 |
| Increase (decrease) in accounts payable | 1,318,407 | 7,464 |
| Increase (decrease) in accrued interest payable | 158,430 | 70,607 |
| Net cash from operating activities | (157,507) | (797,225) |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Capital expenditures for leasehold improvements | (6,500) | - |
| Net cash from investing activities | (6,500) | - |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Cash proceeds from sale of common stock | 127,978 | 95,000 |
| Proceeds from convertible notes payable | 638,000 | 705,000 |
| Repayment of convertible notes payable | (30,000) | - |
| Proceeds from short-term loans | 100,000 | 77,000 |
| Proceeds from exercise of warrants | 45,357 | - |
| Payments of short-term loans | - | (26,000) |
| Proceeds from and repayment to related party | (6,598) | - |
| Payments of related party loans | (44,302) | (59,689) |
| Proceeds from related party loans | 40,200 | 17,726 |
| Net cash from financing activities | 870,635 | 809,037 |
| Net change increase in cash | 706,628 | 11,812 |
| Cash beginning of the year | 11,812 | - |
| Cash end of the year | 718,440 | 11,812 |
| Supplemental disclosures of cash flows | ||
| Cash paid for interest | 1,898 | - |
| Cash paid for income taxes | - | - |
| Supplemental disclosures of non-cash investing and financing activities: | ||
| Common stock issued as satisfaction for contingent liability | - | - |
| Warrants issued with convertible notes | 102,968 | 292,832 |
| Warrants issued with the sale of common stock | - | - |
| Conversion of notes payable & accrued interest | 784,227 | 596,004 |
| Common stock issued as commitment fees | 168,568 | 148,608 |
| Cashless exercise of warrants | - | - |
| Deemed dividend | 256,096 | 82,913 |
| Right of use asset and liability | 94,083 | - |
| Original issue discount on convertible loans | 37,106 | - |
| Prepaid stock issued for services | 39,081 | - |
Amounts as printed on the EDGAR/iXBRL face. Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗
About NAPC Defense, Inc.
Source: Item 1 (Business) from the 10-K filed August 13, 2026. Description as filed by the company with the SEC.
Item
1. Description of Business
Overview
Description
of Business
NAPC
Defense, Inc. (the “Company”) was incorporated in the State of Nevada on January 24, 2016 as Beliss Corp. The Company changed
its name on April 1, 2024, to NAPC Defense, Inc. with the State of Nevada to reflect its new business focus. The Company is engaged in
activities in the defense and security industries, including weapons systems, tactical platforms such as CornerShot®, and other technologies
designed for use by military, paramilitary, and law enforcement agencies.
The
Company’s strategy includes:
●
Weapons
Systems – Development and adaptation of specialized firearms platforms, including the CornerShot® system, which allows
operators to engage threats from protected positions.
●
Non-Lethal
Solutions – Exploration and development of non-lethal weapons designed for law enforcement and crowd control, providing
alternatives to traditional force.
●
Protective
Systems – Research and potential acquisition of protective technologies, including ballistic shields, armor solutions,
and personal protective equipment for defense and security personnel.
●
Research
and Development (R&D) – Establishing partnerships and internal programs to identify emerging defense technologies and
advance them toward commercialization.
●
Contracting
and Distribution – Positioning to work with U.S. and allied defense agencies, law enforcement agencies, and approved international
partners to supply equipment and tactical solutions.
Read full description ↓
Through
these efforts, the Company intends to build a diversified portfolio of defense-related technologies, both through internal development
and through acquisitions or licensing of proven systems, to serve government, military, and security clients worldwide.
During
the year ended April 30, 2026 the Company entered into an agreement with a related party, Native American Pride Constructors, LLC (“NAPC,
LLC”), to act as subcontractor to oversee and manage NAPC, LLC’s contracts with the United States Department of Defense (“DoD”).
Corporate
History
NAPC
Defense, Inc. (the “Company”) was incorporated in the State of Nevada on January 24, 2016 as Beliss Corp. On April 1, 2024,
the Company changed its name to NAPC Defense, Inc. to reflect its transition into the defense and security sector. Since the name change,
the Company has focused exclusively on developing, licensing, and distributing advanced defense and security technologies for use by
military, law enforcement, and government agencies.
3
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 approvals, as well as to U.S.-based law enforcement agencies. In addition, the Company intends to leverage
established supplier relationships for the sourcing and sale of personal ballistic protection equipment, including helmets, bullet-resistant
vests, and shields, for both domestic and international clients.
The
Company is also engaged in the procurement and distribution of small-caliber arms, including rifles and pistols, along with newly developing
firearms technologies. Further initiatives include brokering the supply of larger-scale ammunition and artillery through approved overseas
channels for sale to U.S. allies and other authorized purchasers. The Company is likewise pursuing opportunities in the brokering and
distribution of armored vehicles for both domestic use and international markets.
In
March of 2024, the board determined and entered into an acquisition agreement for the acquisition of the rights, intellectual property,
and associated contracts, letters of intent, and assets from Native American Pride Constructors, LLC for acquisition of certain rights
to sale and production of the CornerShot firearms and surveillance technology, owned by Silver Shadow of Israel and licensed to Native
American Pride Constructors LLC (Native American), and other associated leads and rights into the defense industry, including munitions
brokering overseas under United States State Department Approval for artillery, rocket, and other munitions sales from off shore sources
to U.S. approved allies and other countries. Native American held rights to a number of ATF licenses for sale and production of arms,
was a party to a transaction for potential contract and sale of the Cornershot to Saudi Arabia and for sale in the US, and held large
access to broker munitions under US approval overseas, from foreign sourced to US Allies and approved countries.
In
addition, NAPC Defense, Inc. intends to eventually develop other defense lines of technology including small arms, suppressor technology
development business, and other items of opportunity held by Native American Pride Constructors LLC, the board determined that an acquisition
agreement of such rights was in the best interest of the Company to pursue as an additional business direction while maintaining its
treasure related business. Such agreement was reached on March 26, 2024, however, was subject to further diligence and verification of
the list of acquired rights and business plans with a close out date of May 1, 2024 and sign off by NAPC Defense, Inc./BLIS by the CEO
for release of the consideration to be made for the purchase of such rights. The board concluded that the addition of this business direction
was in the best interest of the Company, regardless of the specific acquisition transaction closing. Pursuant to the March 26, 2024 agreement
such acquisition of rights was made for 95,000,000 shares of common stock to be distributed upon approval by NAPC Defense, Inc../BLIS
to enumerated parties at such time being May 1, 2024 or after. Such shares were not to be distributed to Native American upon release,
so there was no change in control to Native American. There was an acquisition of such rights, intellectual property, sales leads, letters
of intent, contract rights and leads, and other matters set forth in such agreement to gain the rights from Native American Pride and
change the Company’s name to its new defense line of work to NAPC Defense, Inc. but still maintain the treasure business on a more
limited basis.
Such
shares were subject to release by the Company upon approval of the business lines, by the then current but now former CEO and Director.
Such shares did not cause a change in ownership control by any majority shareholder and have been under the rights as set forth in the
acquisition agreement.
NAPC
Defense, Inc. was able to secure the rights to the following items as part of the deal:
●
CornerShot
rights for sale, domestically and through Saudi Arabia as existing with Silver Shadow of Israel, including the LOI for the CornerShot
sale for Saudi Arabia from the Ministry of Defense, which is expected, for an expected order and contract for some 37,000 units of
the CornerShot firearms and tactical units to Saudi Arabia as held by Native American Pride for the Silver Shadow of Israel, amount
owed for Saudi Arabian payment potential under a contract if transacted. Such rights include the ability to contract and utilize
the ATF licenses held for production and sale of firearms and accessories related to such technology under contract with NAPC Defense,
Inc./BLIS, and existing approvals from the Department of State for foreign arms transactions, an existing or expected approval for
firearms under approval from the Saudi Government. As well this includes the existing relationship with the Saudi Ministry of Defense
for interest in the CornerShot purchase, including the relationship and visits expected for closing of such contract. Rights to the
proceeds from the joint venture in Saudi Arabia for such introductions and potential future sales, visit to occur in Saudi Arabia,
and domestic US sales potentials, including domestic law enforcement shows, conventions and US Military demonstration.
●
In
addition, the ability and agreements to produce the CornerShot domestically in the United States which includes a current plastics
manufacturer relationship and metals production relationship, both to be contracted, for such units of the CornerShot to be produced
for all contracts or purchase orders which could be achieved. The Company attended various industry and networking conventions and
conferences in Florida in June 2024, in New Jersey in June 2024 and the visit to Saudi Arabia in the summer of 2024.
●
Rights
as existing to the CornerShot from Silver Shadow of Israel. To include the foreign sales to Saudi Arabia created by persons related
to Native American, as well as domestic sales to law enforcement or government agencies in the United States. To include all media,
CornerShot units, additional show and demonstration units, videos, and other rights.
4
●
Overseas
brokering opportunities of ammunition sales to US Allies, with State Dept. the DDTC (Directorate of Defense Trade Controls, a government
agency within the United States Department of State) as a registered broker the ability to request pre-brokering approval. This includes
the sources and leads existing to large scale munitions inventories from third parties, including those on a revolving list that
is held by parties which are available overseas for sale, to approved countries and end users. This includes all contacts and relations
to overseas producers, holders, and potential purchasers of large-scale munitions sales for such areas as Allied and US military
or foreign aid to Ukraine. These leads and brokering needed confirmation as to available inventories from owners overseas by the
Company through relations created with the new operations. The amounts and the available rolling catalogues of available munitions
and sources were subject to review and approval for final distribution. The verification was to be made as of or after May 1, 2024,
through the former CEO with his experience and knowledge.
●
Verification
for ability to design, manufacture and sell new items and lines of firearms and accessories to include but not be limited to rifles,
small arms, ammunition, and accessories. the Company had additional information and contacts and will use the abilities of production
and sales under the Native American Pride permits to conduct such study of new technologies, firearms, production, prototyping knowledge,
and sales rights as necessary.
Thus
on April 1, 2024 there was the change in officers and directors, which was made for an additional new segment of the Company into the
defense and law enforcement business. Pursuant to the Board of Directors resolution there was no change in control of the Issuer to any
party. The change in officers and directors was made to include the following for the change in the main direction of the Company: The
Agreement was entered into without abandoning the treasure and recovery business, while the board made a change in officers and directors.
There was no change in control of the Company.
Thus,
pursuant to the Board of Directors intent for the new addition of a business line for defense, it was decided and concluded that as of
April 1, 2024, Craig A. Huffman, Patrick Scheider, and Frederick Conte, resigned as officer and directors, with Craig A. Huffman to continue
as Secretary and Chief Legal Officer for the Corporation while overseeing and approval of the acquisition, overseeing corporate compliance,
contracting and numerous other matters on a continuing basis. The board appointed Edward K. West as Director and Chief Executive Officer,
Evelyn R. Gurba as director, Derrick West as director, and John Spence as director and Chief Financial Officer.
The
Company determined the new business priority would best be reflected by a change in the name to NAPC Defense, which was reflected by
a change of the corporate name in the State of Nevada to NAPC Defense, Inc.
At
April 30, 2025 NAPC Defense, Inc. decided to discontinue its treasure and shipwreck recovery business in order to focus on its defense
related business.
During
the year ended April 30, 2026 the Company entered into an agreement with a related party, Native American Pride Constructors, LLC (“NAPC,
LLC”), to act as subcontractor to oversee and manage NAPC, LLC’s contracts with the United States Department of Defense (“DoD”).