Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 641

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1
Chunk 641
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2, a Certificate of Amendment was filed with the Nevada Secretary of State to increase the authorized number of shares
of the Corporation’s $0.0001 par value common stock (the “Common Stock”) from 200,000,000 shares to 1,000,000,000 shares
of Common Stock.

The
Company’s board of directors approved and declared a 10:1 forward split of its common stock on September 6, 2022. As a result of
the stock split, holders of pre-split shares of common stock have the right to receive post-split shares of common stock at a ratio of
ten (10) shares of post-split common stock for every one (1) share of pre-split common stock. The stock split had a record date on September
16, 2022 and an effective date on October 18, 2022. No fractional shares will be issuable as a result of the Forward Stock Split. After
the forward stock split, the issued and outstanding of our common stock is 400,000,000 shares with par value per share remained unchanged
at 0.0001 per share after the stock split.

Preferred
stock

The
Company’s authorized shares of preferred stock were 10,000,000 shares, with a par value of $0.0001, which may be issued in series
and with such voting powers, designations, preferences, limitations, restrictions, and relative rights as the Board of Directors shall
determine in its sole discretion shall remain authorized. No shares of preferred stock were issued and outstanding as of September 30,
2024 and 2023.

Common
stock

With
the retrospective effect of the increase in authorized shares of common stock and 10:1 forward stock split, the Company’s authorized
shares of common stock were 1,000,000,000 and 1,000,000,000 shares with a par value of $0.0001, as of September 30, 2024, and 2023, respectively.
The issued and outstanding shares of common stock were 400,000,000 as of September 30, 2024 and 2023, respectively.

Restricted
net assets

Our
ability to pay dividends is primarily dependent on us receiving distributions of funds from its subsidiary or VIE. Relevant PRC statutory
laws and regulations permit payments of dividends by only out of its retained earnings, if any, as determined in accordance with PRC
accounting standards and regulations