RELATED PARTY TRANSACTIONS |
9 Months Ended |
|---|---|
Jan. 31, 2026 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | NOTE 9 – RELATED PARTY TRANSACTIONS
The Company entered into a lease agreement for commercial office space with a related party commencing on August 15, 2025 with a month-to-month term and a base monthly rent of $10,000. During the nine month period ended January 31, 2026 the Company expensed $60,000 for rent. As of January 31, 2026, the amount owed is $10,000 which is included in accounts payable, related party in the accompanying balance sheet.
The Company had previously entered into a lease agreement on May 1, 2024, for 13,000 square feet of commercial office space and 40,000 square feet of warehousing and parking with a related party, with base monthly rent of $25,000. This lease agreement ended on April 30, 2025. The Company owed the related party rent of $25,000 at April 30, 2025. The $25,000 was paid to the related party during the nine month period ended January 31, 2026.
During the nine month period ended Jannuary 31, 2026, a related party limited liability company provided $6,500 of construction services to make improvements to the Company’s commercial office space.
The Company issued 95,000,000 shares of its restricted common stock valued at $1,615,000 and shown on the consolidated balance sheet as prepaid product rights as of April 30, 2024 to the limited liability company. The Company elected to classify the shares as a prepaid asset pending the closing of the deal. The shares were issued for purchase of the business rights, leads, and contracts and are subject to issuance under control of the Company’s prior president until sign off and final determination of certain contingent terms and conditions. The shares were valued based on the closing price of the Company’s stock on the date of the agreement. Upon completion of due diligence and a verification of certain terms and conditions, the deal closed and the shares issued to NAPC, LLC were reclassified from a prepaid asset to intellectual property on May 1, 2025. NAPC Defense, Inc.’s management has determined that the intellectual property should be impaired based on the Company not having closed sales and licensing deals for CornerShot and related products and services as of April 30, 2025. Accordingly, the Company impaired the balance of $1,615,000 of the intellectual property to $0 during the year ended April 30, 2025.
Period ended January 31, 2025:
The Company entered into a month to month lease agreement for 13,000 square feet of commercial office space and 40,000 square feet of warehousing and parking with a related party, with base month rent of $25,000.
The above transactions and amounts are not necessarily what third parties would agree to.
Related Party Loans
See Note 6 - Notes Payable for information regarding related party loans. |