Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 826

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1B
Chunk 826
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 recent price information for the penny stocks. These rules may restrict
the ability of broker-dealers to trade or maintain a market in our common stock to the extent that it is penny stock, and may affect
the ability of shareholders to sell their shares.

Rule
144

In
general, under Rule 144 a person, or persons whose shares are aggregated, who is not deemed to have been one of our affiliates at any
time during the 90 days preceding a sale and who has beneficially owned shares of our common stock for at least six months, including
the holding period of any prior owner except if the prior owner was one of our affiliates, would be entitled to sell all of their shares,
provided that current public information about our company is available.

Sales
under Rule 144 also may be subject to manner of sale provisions and notice requirements and to the availability of current public information
about our Company. Any substantial sale of common stock pursuant to any resale registration statement or Rule 144 may have an adverse
effect on the market price of our common stock by creating an excessive supply.

Because
we were a shell company with no operations prior to the close of the 2018 Share Exchange, sales of our shares were required to be compliant
with Rule 144(i). Pursuant to Rule 144(i), none of our shares of common stock could be sold under Rule 144 until March 2019, which was
12 months after we filed the current report on Form 8-K reporting the closing of the 2018 Share Exchange. Additionally, stockholders
could not sell our shares pursuant to Rule 144 unless, at the time of the sale, we had filed with the SEC all reports, other than reports
on Form 8-K, required under the Exchange Act for the preceding 12 months.

Recent
Sales of Unregistered Securities

Information
regarding any equity securities we have sold within the past three years that were not registered under the Securities Act of 1933, as
amended (the “Securities Act”), is set forth below. Each such transaction was exempt from the registration requirements of
the Securities Act by virtue of the provisions of Regulation S (“Regulation S”), which was adopted by the Securities and
Exchange Commission (the “SEC”) under the Securities Act. Unless stated otherwise: (i) the securities were offered and sold
only to non-US Persons, as defined in Regulation S.

On
May 17, 2021, we entered into a share exchange agreement (“