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

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 3
Chunk 14
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27,762 
  
    Total 
    $1,818,877  
    $2,416,372 

The
decrease in general and administrative expenses during the year ended September 30, 2024 by $597,495 was triggered by decreases in
impairment for a prepayment of $318,999, professional service fees of $299,840 and meals and entertainment of $47,210 offset by an
increase in Employee compensation and benefit of $56,383. The impairment of goodwill was $8,412 for the year ended September 30, 2024
and the significant decrease in professional service fees of $299,840 results from the decreased need for professional services after
the four additional lines of business were established in November 2023.

Selling
expenses

Our
selling expenses, which were primarily incurred by our sales and marketing department, for the years ended September 30, 2024 and 2023
were $1,655,024 and $3,316,631, respectively. Compared to the year ended September 30, 2023, our selling expenses for the year ended
September 30, 2024 declined by $1,661,607 , or 50.1%.

Our
selling expenses included the following:

    For the years ended September 30, 

    2024  
    2023 

    Service agents 
    $1,103,031  
    $2,362,078 
  
    Employee compensation and benefit 
     288,193  
     254,165 
  
    Office supplies and meeting 
     172,134  
     203,645 
  
    Customer services 
     -  
     40 
  
    Travel, transportation and gasoline 
     42,156  
     72,736 
  
    Meals and entertainment 
     6,031  
     357,292 
  
    Depreciation and amortization 
     28,733  
     3,106 
  
    Advertising 
     14,746  
     63,569 
  
    Total 
    $1,655,024  
    $3,316,631 

84

The
significant decrease in selling expenses for the year ended September 30, 2024 was primarily driven by a decrease in service agent fees
of $1,259,047 as marketing and promotional service fees to our service