Company: KPEA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-023821
Chunk: 60

Company: Kun Peng International Ltd.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 60
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,524 
  
    Finance lease right-of-use assets 
    Finance lease assets 
     160,065  
     309,445 
  
    Total lease assets 
      
    $165,334  
    $593,969 

    Liabilities 

    Current 

    Operating lease liability - current 
    Current operating lease liabilities 
    $4,511  
    $238,979 
  
    Finance lease liability - current 
    Current finance lease liabilities 
     116,377  
     196,879 

    $120,888  
    $435,858 
  
    Long-term 

    Operating lease liability – net of current portion 
    Long-term finance lease liabilities 
    $-  
    $44,622 
  
    Finance lease liability – net of current portion 
    Long-term operating lease liabilities 
     -  
     76,862 

     -  
     121,484 
  
    Total lease liabilities 
      
    $120,888  
    $557,342 

The
operating lease expense for the three and nine months ended June 30, 2025 and 2024 was as follows:

 SUMMARY
OF OPERATING LEASE EXPENSE

    Lease cost 
    Classification 
    2025  
    2024  
    2025  
    2024 

    Three Months Ended
                                                                                June 30,  
    Nine
Months Ended
                                                                               June 30, 
  
    Lease cost 
    Classification 
    2025  
    2024  
    2025  
    2024 
  
    Operating lease cost 

    Lease expenses – short-term 
    General and administrative 
    $-  
    $-  
    $9,299  
    $- 
  
    Lease expenses 
    General and administrative 
     9,934  
     81,064  
     153,827  
     246,939 
  
    Finance lease cost 

    Amortization of leased asset 
    Cost of revenues 
     44,570  
     -  
     138,350  
     - 
  
    Interest on lease liabilities 
    Other expense - other 
     1,700  
     -  
     6,829  
     - 
  
    Total