NAPC Defense, Inc. Reports $1.42M Revenue in Fiscal Year Ending April 30, 2026

NAPC Defense, Inc. reported significant financial developments in its recent 10-K filing for the fiscal year ending April 30, 2026. The company generated $1.42 million in revenue, a notable increase from zero revenue reported in the previous fiscal year. However, the cost of sales reached $2.11 million, resulting in a gross loss of $691,550. The net loss for the year was $2.88 million, a decrease from the $3.38 million loss reported in the prior year, primarily due to a reduction in operating expenses.

The company underwent substantial changes during the fiscal year, including a strategic shift in focus from treasure recovery to defense and security technologies. This transition was marked by a name change from Beliss Corp. to NAPC Defense, Inc. on April 1, 2024, and the acquisition of rights and intellectual property from Native American Pride Constructors, LLC. This acquisition included the rights to the CornerShot® firearms system, which is expected to generate significant future revenue through contracts with both domestic and international clients, including a potential order for 37,000 units from Saudi Arabia.

Operationally, NAPC Defense, Inc. has made strides in expanding its market presence. The company has established relationships for the distribution of ballistic protection products and is pursuing contracts for small arms and ammunition sales. As of April 30, 2026, the company reported a total of 444,899,171 shares of common stock outstanding, reflecting its efforts to raise capital through equity sales. The company’s total assets increased to $881,642, while current liabilities surged to $2.94 million, resulting in a working capital deficit of $2.13 million.

The filing also highlighted the company's ongoing challenges, including a need for additional capital to sustain operations. Management indicated that the company may not be able to continue as a going concern without securing further financing. The company plans to raise capital through equity or debt offerings, but there are no assurances that it will be successful in these efforts. The report underscores the importance of addressing liquidity issues and the potential for significant dilution of existing shareholders due to the conversion of convertible notes and warrants.

Looking ahead, NAPC Defense, Inc. aims to leverage its new business direction in the defense sector to drive future growth. The company is focused on developing its product lines, including firearms and protective technologies, while maintaining its commitment to compliance with regulatory requirements. The management's outlook remains cautious, emphasizing the need for strategic execution and capital acquisition to navigate the evolving market landscape.