Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 311

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 8
Chunk 311
---
    2023 

    Trademarks 
    $3,692  
    $3,551 
  
    Subtotal 
     3,692  
     3,551 
  
    Less: accumulated amortization 
     (1,144) 
     (745)
  
    Total intangible assets, net 
    $2,548  
    $2,806 

Intangible
assets consist of the Company’s trademarks of King Eagle Mall with a useful life of ten
years. Approximately $1,087, $1,397, $570,
$36, $516 and $86 will expire in July 2031, April 2031, April 2032, September 2032, October 2032 and October 2033,
respectively.

Amortization
expense was $360 and $363 for the years ended September 30, 2024 and 2023, respectively.

    F-37

NOTE
9 - DEFERRED REVENUE

SCHEDULE
OF DEFERRED REVENUE

    2024  
    2023 

    September 30, 

    2024  
    2023 
  
    Advance payments from customers 
    $584,116  
    $2,149,238 
  
    Total deferred revenue 
    $584,116  
    $2,149,238 

Deferred
revenue resulted from transactions where the Company has received the payments from the customers but revenue recognition criteria
under the five-step model have yet to be met. As at September 30, 2024 and 2023, the Company had a total deferred revenue of
$584,116 and
$2,149,238
respectively. As of September 30, 2024, the ending balance of $584,116, $583,491 was the advance payment from our customers for our
retail products to be delivered in the subsequent period. Once the five-step model criteria have been satisfied, revenues will be
recognized upon the transfer of risk and rewards to the customers. Management has agreed that the amount received is non-refundable.
However, this term is not bound by any written agreement. Thus, the customers may have the right to challenge and demand that the
advances be refunded under relevant commercial laws and regulations.

NOTE
10 - RELATED PARTY TRANSACTIONS

Acquisition of Kun
Pin Hui (Shand