Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 221

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 6
Chunk 221
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(13,115)

    Net decrease in cash and cash equivalents 
     (365,985) 
     191,581 

    Cash and cash equivalents, beginning balance 
     447,117  
     255,536 

    Cash and cash equivalents, ending balance 
    $81,132  
    $447,117 

    F-35

NOTE
4 - ADVANCE AND PREPAYMENTS

Prepayments
consisted of the following:

SCHEDULE OF PREPAYMENTS

    2024  
    2023 

    September 30, 

    2024  
    2023 
  
    Prepaid rent and building management and utilities 
    $13,200  
    $19,211 
  
    Prepaid supplies(1) 
     49,495  
     32,195 
  
    Prepaid income tax 
     5,226  
     5,027 
  
    Prepaid professional services(2) 
     104,742  
     9,137 
  
    Prepaid others 
     6,291  
     8,474 
  
    Total prepayments 
    $178,954  
    $74,044 

    (1)
    As
    of September 30, 2024, and 2023, the Company had prepaid supplies of $49,495 and $32,195, respectively. The prepayment will be recognized
    in cost of goods sold in its consolidated statement of operations and comprehensive loss when the corresponding deferred revenue
    is recognized.

    (2)
    As
    of September 30, 2024, the ending balance of prepaid professional services represented $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.

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

NOTE
5 - OTHER RECEIVABLES

Other
receivables included the following:

SCHEDULE OF OTHER RECEIVABLES

    2024  
    2023 

    September 30, 

    2024  
    2023 
  
    Deposits 
    $136,119  
    $14,111 
  
    Advance to employees