NAPC Defense (OTCPK: BLIS) issues new Progress Report regarding Large Contract with Saudi Arabia, Live-Fire Demos for U.S. based Police and SWAT, Manufacturing update, and more

Rhea-AI Summary

NAPC Defense (OTCPK: BLIS) reports progress on multiple business fronts. The company has received a Letter of Intent from Saudi Arabia for 37,000 CornerShot units valued at $370 million, with upcoming live-fire demonstrations scheduled between December 29, 2024, and January 12, 2025. NAPC has secured manufacturing facilities in Pinellas Park, FL, and recently conducted demonstrations for local police and SWAT teams.

The company expects new orders in January 2025 and will participate in the SHOT Show in Las Vegas. Additionally, NAPC has secured $1.5 million in hurricane renovation work and is pursuing an additional $3 million in contracts through a partnership.

Positive

• Secured Letter of Intent from Saudi Arabia for $370 million (37,000 CornerShot units)
• Secured manufacturing facility in Pinellas Park, FL
• Obtained $1.5 million in hurricane renovation contracts
• Pursuing additional $3 million in renovation contracts

Negative

• Delay in previously scheduled Saudi Arabia demonstrations
• Final contract and funding for Saudi deal still pending

LARGO, Fla., Dec. 12, 2024 (GLOBE NEWSWIRE) -- NAPC Defense, Inc., (OTCPK: BLIS) (“NAPC” or “the Company”) announces that the Company is making strong progress on its CornerShot USA weapons systems and other initiatives.

NAPC’s Management believes the Company is well positioned to drive significant revenue and profits in 2025, from its own manufacturing and sale of CornerShot in the United States and Saudi Arabia. NAPC maintains it will also drive revenue through the brokering of arms and munitions, as well as contract work for renovation and clean up, following recent hurricanes in the area.

As previously announced, NAPC received a signed and stamped Letter of Intent from Saudi Arabia for an initial order of 37,000 CornerShot units, valued at (U.S.) $370 million. Management has already conducted critical late-stage meetings and live-fire demonstrations in Saudi Arabia with several military divisions through visits to the country in August and October of 2024.

NAPC Defense has now received a request to complete live fire demonstrations in Saudi Arabia from Saudi Land Forces. The visit is planned to take place between December 29, 2024 and January 12, 2025. The Company previously reported that this upcoming visit would take place last month.

Please see below for a list of current and anticipated NAPC developments, as we enter the New Year:

• Following the next phase of the upcoming CornerShot demonstrations in Saudi Arabia, NAPC expects that it will enter final contract negotiations, deposit funding, and initial CornerShot manufacturing. in Q1 of 2025.

• NAPC has secured manufacturing facilities for the production of CornerShot USA weapons systems in Pinellas Park, FL. The space is large enough to meet anticipated demand for the near future.

• Live-fire demonstrations were recently conducted for St. Petersburg Police and SWAT teams in Pinellas County. New orders from these departments, as well as others, are expected in January 2025.

• NAPC Defense has secured booth space #10953 at the upcoming SHOT Show in Las Vegas from January 21-24, 2025. The SHOT Show is the largest and most comprehensive trade show for all professionals involved with the shooting sports, hunting and law enforcement industries.

• In addition to over $1.5 million in new hurricane renovation and cleanup work in Pinellas Country, the Company has partnered with another firm in an effort to win an additional $3 million in contracts.
  

CEO Kenny West stated, “This is truly an exciting time for NAPC Defense. We have laid the groundwork in 2024, and now it’s time to deliver in 2025. We appreciate the ongoing support from our shareholders and investors.”

About NAPC Defense, Inc.

NAPC Defense, Inc. https://www.napcdefense.com/ is an armament sales and production company, fully licensed in the United States, with exclusive rights to produce and sell CornerShot USA weapons systems in the U.S and Saudi Arabia, in addition to brokering arms and munitions throughout the world all with US State Department approval. Additional smaller weapons platforms, a series of ballistics protection technologies and related products are in development or being finalized for sale.

FORWARD LOOKING STATEMENTS:

This press release and the statements of representatives of NAPC (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information.

These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "guidance," "projects," "may," "could," "would," "should,’ “believes," "expects," "anticipates,” “estimates," "intends," "plans, “ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results (including, without limitation, NAPC's ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with the SEC. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.

COMPANY CONTACT:

Kenny West, CEO (754) 242-6272 Ext.713

FAQ

What is the value of NAPC Defense's (BLIS) Saudi Arabia Letter of Intent for CornerShot units?

The Letter of Intent from Saudi Arabia is for 37,000 CornerShot units valued at US$370 million.

When will NAPC Defense (BLIS) conduct live-fire demonstrations in Saudi Arabia?

NAPC Defense will conduct live-fire demonstrations in Saudi Arabia between December 29, 2024, and January 12, 2025.

How much hurricane renovation work has NAPC Defense (BLIS) secured in Pinellas County?

NAPC Defense has secured $1.5 million in hurricane renovation and cleanup work in Pinellas County.

When will NAPC Defense (BLIS) begin manufacturing CornerShot units for the Saudi contract?

NAPC Defense expects to begin manufacturing CornerShot units in Q1 of 2025, following final contract negotiations and deposit funding.

Where will NAPC Defense (BLIS) manufacture the CornerShot weapons systems?

NAPC Defense will manufacture CornerShot weapons systems at their secured facilities in Pinellas Park, Florida.