Company: KPEA
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006580
Chunk: 103

Company: Kun Peng International Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 1
Chunk 103
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 on-going
basis. We are currently hiring additional personnel in financial reporting and accounting, and we are providing training to newly hired
personnel. In addition, once our cash position improves, we plan to hire an experienced controller and work to build an internal accounting
team with sufficient in-house expertise in U.S. GAAP reporting. However, due to the limited cash flow we are currently having, we cannot
assure you when we will be able to implement those remediation methods.

Because
we are a smaller reporting company, this report does not include an attestation report of our independent registered public accounting
firm regarding internal control over financial reporting.

(b)
Changes in internal controls over financial reporting

There
were no changes in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the
Securities Exchange Act of 1934, as amended) during the fiscal quarter ended December 31, 2023 covered by this report that has materially
affected, or are reasonably likely to materially affect, our internal control over financial reporting other than the facts disclosed
above.

47

PART
II - OTHER INFORMATION

ITEM
1. LEGAL PROCEEDINGS.

We
are currently not involved in any litigation that we believe could have a material adverse effect on our financial condition or results
of operations. There is no action, suit, proceeding, inquiry, or investigation before or by any court, public board, government agency,
self-regulatory organization, or body pending or, to the knowledge of the executive officers of our Company, threatened against or affecting
our Company or our common stock, in which an adverse decision could have a material adverse effect.

ITEM
1A. RISK FACTORS

As
a smaller reporting company, we are not required to respond to this item.

ITEM
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None

ITEM
3. DEFAULTS UPON SENIOR SECURITIES

None

ITEM
4. MINE SAFETY DISCLOSURES

Not
applicable

ITEM
5. OTHER INFORMATION

None

ITEM
6. EXHIBITS

    Exhibit
    Number
     
    Description

    31.1
     
    Certification of Chief Executive Officer pursuant to Section 302(a) of the Sarbanes-Oxley Act
  
    31.2
     
    Certification of Chief Financial Officer