Executive Summary
NAPC Defense Inc (BLIS) posted a materially negative QQ2 2025 performance with a net loss of $453,921 and an operating loss of $204,730. Gross profit stood at -$75,000 on $75,000 of cost of revenue, and EBITDA registered at -$390,153, indicating limited top-line visibility and high operating leverage. Cash flow was negative from operations at -$182,820, while financing activities provided $189,000 to support liquidity; however, the balance sheet shows extreme liquidity constraints with only $12,919 in cash and a current liability base of $1,003,055. Net debt approximates $507,546 on a total debt position of $520,465, underscoring a precarious liquidity position. Intangible assets of $1.615 million contribute to asset carry but do not supply near-term liquidity. With negative retained earnings of -$5.878 million and a debt-heavy balance sheet, the near-term investment thesis hinges on external financing, potential asset monetization, or new defense/salvage contracts. Absent such actions, solvency risk remains salient.
Key Performance Indicators
QoQ: 20.35% | YoY:-42.20%
QoQ: -4.14% | YoY:-181.08%
Key Insights
Revenue: Not disclosed for QQ2 2025; Gross Profit: -$75,000; Gross Profit QoQ: -211.17%; Operating Income: -$204,730; Operating Income YoY: -42.20%; Operating Income QoQ: +20.35%; Net Income: -$453,921; Net Income YoY: -181.08%; Net Income QoQ: -4.14%; EBITDA: -$390,153; EPS: -$0.0024; EPS YoY: +17.24%; EPS QoQ: +64.71%; Cash from operating activities: -$182,820; Free cash flow: -$182,820; Cash at end of period: $12,919; Net debt: $507,546; Short-term debt: $520,465; Total debt: $520,465; Total ...
Financial Highlights
Revenue: Not disclosed for QQ2 2025; Gross Profit: -$75,000; Gross Profit QoQ: -211.17%; Operating Income: -$204,730; Operating Income YoY: -42.20%; Operating Income QoQ: +20.35%; Net Income: -$453,921; Net Income YoY: -181.08%; Net Income QoQ: -4.14%; EBITDA: -$390,153; EPS: -$0.0024; EPS YoY: +17.24%; EPS QoQ: +64.71%; Cash from operating activities: -$182,820; Free cash flow: -$182,820; Cash at end of period: $12,919; Net debt: $507,546; Short-term debt: $520,465; Total debt: $520,465; Total assets: $1,628,919; Total liabilities: $1,003,055; Total stockholders’ equity: $625,864; Current ratio: 0.0129; Quick ratio: 0.0129; Debt/Equity: 0.832; Price to Book: 6.02; Revenue visibility remains limited with shown top-line data sparse in QQ2 2025.
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Gross Profit |
-75.00K |
N/A |
-211.17% |
| Operating Income |
-204.73K |
-42.20% |
20.35% |
| Net Income |
-453.92K |
-181.08% |
-4.14% |
| EPS |
0.00 |
17.24% |
64.71% |
Key Financial Ratios
operatingCashFlowPerShare
$-0
Management Commentary
Transcript data for QQ2 2025 is not provided in the dataset. Consequently, no management quotes or thematic highlights from an earnings call are available to accompany the financials. Investors should seek the official earnings call transcript or subsequent press releases for management viewpoints on revenue trajectory, cost controls, and capital strategy.
Transcript unavailable for QQ2 2025; no management quotes provided.
— N/A
Forward Guidance
No explicit forward guidance is included in the provided data. Given the current earnings trajectory, BLIS faces liquidity and profitability headwinds unless the company secures additional financing, restructures debt, or monetizes intangible assets. Investors should monitor for: (1) capital-raising events (equity or debt), (2) covenant relief or refinancing discussions, (3) any announced contracts or milestones in salvage, defense, or military arms/law enforcement segments, and (4) potential impairment reviews of intangible assets. The achievability of any near-term targets will hinge on improved top-line visibility, cost containment measures, and successful capital execution.