Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 421

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1
Chunk 421
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300,000 shares of common stock of
MLGT issued and outstanding. Immediately upon the effectiveness of the Reverse Stock Split, we had 14,486,670 shares of common stock
of CXKJ issued and outstanding.

The
Name Change, the Domicile Change, and the Reverse Stock Split were effective as of July 11, 2017. Subsequently, the Company’s trading
symbol for its common stock was changed to “CXKJ.”

On
March 20, 2018, CXKJ, Chuangxiang Holdings Inc., a company incorporated on February 4, 2016 under the laws of the Cayman Islands (“CX
Cayman”), Continent Investment Management Limited, a British Virgin Islands company (“Continent”), and Golden Fish
Capital Investment Limited, a British Virgin Islands company (“Golden Fish,” and, together with “Continent,”
the “CX Cayman Stockholders”) entered into a share exchange agreement (the “Share Exchange Agreement”), pursuant
to which CXKJ acquired 100% of the issued and outstanding equity securities of CX Cayman in exchange for 5,350,000 shares of common stock,
par value $0.0001 per share, of CXKJ (the “Share Exchange”). As a result of the Share Exchange, CX Cayman became the Company’s
wholly owned subsidiary.

Immediately
prior to the Share Exchange, we were a shell company with no significant assets or operations. As a result of the Share Exchange, we
operated through our PRC affiliated entity, namely Chuangxiang Network Technology (Shenzhen) Limited, located in Shenzhen, China, (“CX
Network”). CX Network’s business focused on the development and operation of online dating and mobile gaming products either
developed and operated by it, developed by it but co-operated by third parties, or developed by third parties but co-operated by it.

On
March 30, 2021, certain of our shareholders (the “Sellers”) and a certain investor (the “Purchaser”) entered
into a Stock Purchase Agreement (the “SPA”), pursuant to which the Purchaser acquired 16,683,334 shares of common stock,
par value $0.0001 per share, of the Company for an aggregate purchase price of $255,000, subject to satisfaction or waiver of the closing
conditions set forth in the SPA.

In
connection with the SPA, on the same day, we entered into a spin-off