Company: KPEA
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006580
Chunk: 95

Company: Kun Peng International Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 1
Chunk 95
---
 to an increase of
$104,614  in general and administrative expenses offset by a decrease of $85,499 in selling expenses.

42

General
and administrative expenses

General
and administrative expenses for the three months ended December 31, 2024 and 2023 were $652,433 and $547,819, respectively. Our general
and administrative expenses for the three months ended December 31, 2024 and 2023 were comprised of the following:

    Three Months Ended December 31, 

    2024  
    2023 
  
    Employee compensation and benefits 
    $213,023  
    $163,578 
  
    Office rent and building management 
     98,607  
     91,436 
  
    Office supplies and meeting 
     4,072  
     13,773 
  
    Professional services fee 
     279,395  
     149,895 
  
    Travel, transportation, and gasoline 
     10,184  
     46,591 
  
    Meals and entertainment 
     11,930  
     53,855 
  
    Depreciation and amortization 
     22,850

     11,958 
  
    Others 
     12,372

     16,733 
  
    Total 
    $652,433  
    $547,819 

The
increase in general and administrative expenses during the three month period ended December 31, 2024 by $104,614 was triggered by
increases in employee compensation and benefits of $49,445 and professional service fees of $129,500, and offset by decreases in
meals and entertainment of $41,925 and in travel, transportation, and gasoline of $36,407. The increase in employee compensation and
benefits was due to more subsidiaries operating during the three months ended December 31, 2024. The increase in professional
service fees resulted from more outsourcing, which also resulted in decreased in-house expenditures for travel, transportation, and
gasoline and for meals and entertainment.

Selling
expense

Selling
expenses for the three months ended December 31, 2024 and 2023 were $346,489 and $431,988, respectively. Our selling expenses for the
three months ended December 31, 2024 and 2023 were comprised of the following:

    Three Months Ended December 31,