LARGO, Fla., Oct. 22, 2024 (GLOBE NEWSWIRE) -- NAPC Defense, Inc., (OTCPK: BLIS) (“NAPC” or “the Company”) announces that representatives recently returned from an additional two weeks of meetings and CornerShot USA weapons systems demonstrations in Saudi Arabia. As previously announced, NAPC received a signed and stamped LOI from Saudi Arabia for an initial order of 37,000 units of the CornerShot, valued at (U.S.) $370 million.
Management is pleased to report the following updates:
- During the most recent two-week trip in Saudi Arabia, NAPC representatives successfully demonstrated CornerShot at the Tabuk military installation in northern Saudi Arabia to four military groups.
- Two more demonstrations are scheduled in November for two special operations military groups in Saudi Arabia.
- The proposed final contract is expected to include a transfer of technology after completion of the initial order of 37,000 CornerShot units. NAPC Defense would receive a significant fee to complete the transfer over a five-year time frame.
- Management is pleased with progress of its negotiations with Saudi Arabia and maintains its business plans are on track for CornerShot as well as new brokered defense transactions.
NAPC Defense also plans to attend the upcoming National SWAT Team show https://www.floridaswat.org/swat-round-up-international and has secured Booth #103. The address for the event follows: OCSO Range – 14500 Wewahootee Rd, Orlando, FL 32832.
Live fire demonstrations for a number of police departments are anticipated in Florida and New Jersey over the near term which, in turn, is expected to yield significant sales in the first quarter of 2025.
Kenny West, CEO of NAPC, stated, “We are pleased with our progress with the CornerShot USA Weapons Systems in both Saudi Arabia and the USA. Our sales projections and net profit forecasts remain on target for 2025.”
About NAPC Defense, Inc.
NAPC Defense, Inc. (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
