Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 647

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1
Chunk 647
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 assets 
    Finance lease assets 
     309,445  
     - 
  
    Total lease assets 
      
    $593,969  
    $479,427 

    Liabilities 

    Current 

    Operating lease liability - current 
    Current operating lease liabilities 
    $238,979  
    $318,422 
  
    Finance lease liability - current 
    Current finance lease liabilities 
     196,879  
     - 

     435,858  
     318,422  

    Long-term 

    Operating lease liability – net of current portion 
    Long-term finance lease liabilities 
    $44,622  
    $95,907 
  
    Finance lease liability – net of current portion 
    Long-term operating lease liabilities 
     76,862  
     - 

     121,484  
     95,907 
  
    Total lease liabilities 
      
    $557,342  
    $414,329 

The lease expense for the years ended September 30, 2023, and 2024 was as follows:

SUMMARY
OF OPERATING LEASE EXPENSE 

    Lease Cost 
    Classification 
    2024  
    2023 

    September 30, 
  
    Lease Cost 
    Classification 
    2024  
    2023 
  
    Operating lease cost 

    Lease expenses –
short-term 
    General and administrative 
    $8,328  
    $- 
  
    Lease expenses 
    General and administrative 
     296,226  
     330,626 
  
    Finance lease cost 

    Amortization of leased asset 
    Cost of sales 
     87,265  
     - 
  
    Interest on lease liabilities 
    Other expense - other 
     6,688  
     - 
  
    Total lease cost 
      
    $398,506  
    $330,626 

Maturities
of lease liabilities as of September 30, 2024, were as follow:

SCHEDULE
OF MATURITY OF  LEASE LIABILITIES

    Maturity of Lease Liabilities 
    Operating lease  
    Finance lease 
  
    2025 
    $244,243  
    $205,103 
  
    2026 
     44,887