NAPC Defense Files 10-Q/A Amendment
Ticker: BLIS · Form: 10-Q/A · Filed: Oct 2, 2024 · CIK: 1703625
Sentiment: neutral
Topics: amendment, 10-Q, company-name-change
TL;DR
NAPC Defense filed an amended 10-Q for July 31, 2024. Old names: Treasure & Shipwreck Recovery, BELISS CORP.
AI Summary
NAPC Defense, Inc. filed an amendment to its 10-Q for the period ending July 31, 2024. The filing, dated October 2, 2024, provides updated financial information. The company was formerly known as Treasure & Shipwreck Recovery, Inc. and BELISS CORP., with name changes occurring on August 15, 2019, and April 12, 2017, respectively.
Why It Matters
This filing provides updated financial disclosures for NAPC Defense, Inc., which is crucial for investors and stakeholders to assess the company's current financial health and performance.
Risk Assessment
Risk Level: low — This is a routine amendment to a quarterly filing, not indicating any immediate financial distress or significant new risks.
Key Numbers
- 20240731 — Period End Date (The filing covers the period ending on this date.)
- 20241002 — Filing Date (The amendment was filed on this date.)
Key Players & Entities
- NAPC Defense, Inc. (company) — Filer of the 10-Q/A
- Treasure & Shipwreck Recovery, Inc. (company) — Former company name
- BELISS CORP. (company) — Former company name
- 20240731 (date) — Conformed period of report
- 20241002 (date) — Filed as of date
FAQ
What is the purpose of this 10-Q/A filing?
This filing is an amendment (Amendment No. 1) to the Form 10-Q for NAPC Defense, Inc., indicating updates or corrections to previously filed information for the period ending July 31, 2024.
What were NAPC Defense, Inc.'s previous names?
NAPC Defense, Inc. was formerly known as Treasure & Shipwreck Recovery, Inc. and BELISS CORP.
When did the company change its name from Treasure & Shipwreck Recovery, Inc.?
The company's name change from Treasure & Shipwreck Recovery, Inc. occurred on August 15, 2019.
What is the fiscal year end for NAPC Defense, Inc.?
The fiscal year end for NAPC Defense, Inc. is April 30.
What is the business address and phone number listed for NAPC Defense, Inc.?
The business address is 1501 Lake Ave SE, Largo, FL 33771, and the business phone number is (754) 242-6272.
Filing Stats: 4,587 words · 18 min read · ~15 pages · Grade level 16 · Accepted 2024-10-01 18:56:30
Key Financial Figures
- $0 — own the value of both of the vessels to $0, a total of $ 22,340 net of depreciatio
Filing Documents
- napc-10q.htm (10-Q/A) — 673KB
- napc-ex31_1.htm (EX-31.1) — 14KB
- napc-ex31_2.htm (EX-31.2) — 14KB
- napc-ex32_1.htm (EX-32.1) — 5KB
- napc-ex32_2.htm (EX-32.2) — 5KB
- 0001199835-24-000433.txt ( ) — 3620KB
- napc-20240731.xsd (EX-101.SCH) — 31KB
- napc-20240731_cal.xml (EX-101.CAL) — 45KB
- napc-20240731_def.xml (EX-101.DEF) — 67KB
- napc-20240731_lab.xml (EX-101.LAB) — 210KB
- napc-20240731_pre.xml (EX-101.PRE) — 170KB
- napc-10q_htm.xml (XML) — 517KB
Financial Statements
Financial Statements 3 Condensed Consolidated Balance Sheets as of July 31, 2024 (Unaudited) and April 30, 2023 4 Unaudited Condensed Consolidated Statements of Operations for the three months ended July 31, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Changes in Stockholders' Deficit for the three months ended July 31, 2024 and 2023 6 Unaudited Condensed Consolidated Statements of Cash Flows for the three months ended July 31, 2024 and 2023 7 Notes to the Condensed Consolidated Unaudited Financial Statements 8 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 23 Item 4.
Controls and Procedures
Controls and Procedures 23 PART II OTHER INFORMATION: Item 1.
Legal Proceedings
Legal Proceedings 24 Item 1A.
Risk Factors
Risk Factors 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24 Item 3. Defaults Upon Senior Securities 24 Item 4. Submission of Matters to a Vote of Securities Holders 25 Item 5. Other Information 25 Item 6. Exhibits 25
Signatures
Signatures 26 2 PART I - FINANCIAL INFORMATION Item 1. Financial Statements 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 Companys 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 July 31, 2024 April 30, 2024 Unaudited ASSETS Current assets: Cash $ 6,739 $ - Accounts receivable 67,467 - Prepaid consulting fees 37,312 54,599 Total current assets 111,518 54,599 Right of use asset 1,318,757 - Fixed assets, net of depreciation 117,956 143,732 Prepaid product rights - 1,615,000 Intangible assets 1,615,000 - Security deposit 1,000 1,000 Total Assets $ 3,164,231 $ 1,759,732 LIABILITIES