NAPC Defense Inc (BLIS) Q4 2024 Earnings Report

NAPC Defense Inc (BLIS) reported a QQ4 2024 results snapshot that shows a company far from revenue visibility, recording a net loss of $204,272 and an operating loss of $120,994, with revenue not disclosed in the quarter. Despite the negative bottom line, the company generated modest operating cash flow of $39,410 driven largely by working capital movements and several non-cash adjustments (stock-based compensation $98,538; deferred tax benefit $70,578; depreciation and amortization $4,305). The balance sheet depicts a small asset base of about $1.76 million against liabilities of roughly $1.05 million, leaving equity of about $0.71 million and a net debt position of $0.68 million. Liquidity indicators are incomplete due to missing current asset data, which complicates assessment of near-term financial flexibility. The results underscore the high-risk, low-visibility profile of BLIS in a niche salvage/defense segment, where a meaningful upside hinges on monetizing recovered assets, securing new contracts, or licensing opportunities that translate into recognizable revenue.