Company: KPEA
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006580
Chunk: 74

Company: Kun Peng International Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 1
Chunk 74
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104,742 for the legal service fee for our
    PRC entities. The legal service fee will be amortized to general and administrative expenses using the straight-line method, over
    the service periods of October and November 2024.
     
    As
    of December 31, 2024, the ending balance of prepaid professional services included $9,133,
    $3,996,
    and $1,233
    for the legal service fee, advertising fee and bookkeeping fee for our PRC entities. The legal service fees will be amortized to
    general and administrative expenses using the straight-line period over the service periods of January and February 2025. The
    advertising fee and bookkeeping fee will be recognized in the Company’s consolidated statement of operations and comprehensive
    loss when the related services are performed.

These
amounts are expected to be recoverable within twelve (12) months.

NOTE
5 - OTHER RECEIVABLES

Other
receivables included the following:

 SCHEDULE
OF OTHER RECEIVABLES

    December 31,  
    September 30, 

    2024  
    2024 

    Deposits 
    $127,091  
    $136,119 
  
    Advance to employees 
     542  
     42,894 
  
    Advance to third-party company 
     35,470  
     34,912 
  
    Others 
     17,776  
     37,663 
  
    Total other receivables, net 
    $180,879  
    $251,588 

    29

Advance
to employees represents funds provided to our officers and employees for business expenses, such as travel, parking, gasoline, membership,
and meals, that are anticipated to be incurred by our officers and employees on behalf of the Company. Advances to employees are required
to be repaid in cash within a year.

Advance
to third-party company represents funds provided to a third-party company for rental fee and deposit.

NOTE
6 - INVENTORY

Inventory
consisted of the following:

 SCHEDULE
OF INVENTORY

    December 31,  
    September 30, 

    2024  
    2024 

    Finished goods 
    $18,138  
    $15,700 
  
    Total 
    $18,138  
    $15,700