v3.26.1
DISCONTINUED OPERATIONS
 12 Months Ended
Apr. 30, 2026
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS

NOTE 10 – DISCONTINUED OPERATIONS

 

At April 30, 2025 NAPC Defense, Inc. decided to discontinue its treasure and shipwreck recovery business in order to focus on its defense related business. Accordingly, the Company categorized its treasure and shipwreck recovery business as discontinued operations for the years ended April 30, 2026 and 2025.

The operating results for discontinued operations have been presented in the accompanying consolidated statements of operations for the years ended April 30, 2026 and 2025 as discontinued operations and are summarized below:

 

   Year Ended April 30, 
   2026   2025 
Total revenue  $-   $- 
Operating expenses   -    143,732 
Income from operations   -    - 
Other expenses   -    - 
Loss from operations of discontinued operations  $-   $143,732 

  

The assets and liabilities of the discontinued operations at April 30, 2026 and 2025 are summarized below:  

 

    April 30, 2026     April 30, 2025  
Current assets   $ -     $ -  
Other assets     -       -  
Total Assets of discontinued operations, current     -       -  
                 
Property and equipment, net     -       -  
Assets of discontinued operations, non-current     -          
Total Assets   $ -     $ -  
                 
Contingent liability     -       -  
Liabilities of discontinued operations, current     -       -  
                 
Liabilities of discontinued operations, non-current     -       -  
Total Liabilities   $ -     $ -  

   

Property and equipment

 

Fixed assets, at cost, for the discontinued operations consisted of the following at April 30, 2026 and 2025:

 

 

Fixed Assets  April 30, 2026   April 30, 2025 
Diving Vessel  $-   $36,390 
Magnetometer   -    - 
Diving Vessel (Boston Whaler)   -    - 
Diving Vessel (Commander)   -    - 
Accumulated Depreciation   -    (36,390)
Fixed Assets, Net  $-   $- 

 

Depreciation expense for the discontinued operations for the years ended April 30, 2026 and 2025 was $0 and $3,436, respectively. 

 

Impairment expense for the discontinued operations was $140,296 for the year ended April 30, 2025.