Company: KPEA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010699
Chunk: 55

Company: Kun Peng International Ltd.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 55
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a Certificate of Amendment was filed with the Nevada Secretary of State to increase the authorized number of shares of the Company’s
$0.0001 par value common stock from 200,000,000 shares to 1,000,000,000 shares of common stock.

The Company’s board of directors
approved and declared a 10:1 forward split of its common stock on September 6, 2022. As a result of the stock split, holders of pre-split
shares of common stock received post-split shares of common stock at a ratio of ten (10) shares of post-split common stock for every one
(1) share of pre-split common stock. The stock split had a record date of September 16, 2022 and an effective date of October 18, 2022.
No fractional shares were issuable as a result of the forward stock split. After the forward stock split, the Company has 400,000,000
shares of common stock outstanding. The par value of the common stock remained unchanged at 0.0001 per share after the stock split.

Preferred stock

The Company’s authorized
shares of preferred stock are 10,000,000 shares, with a par value of $0.0001. The preferred stock may be issued in series and with such
voting powers, designations, preferences, limitations, restrictions, and relative rights as the board of directors shall determine in
its sole discretion. No shares of preferred stock were issued and outstanding as of March 31, 2025 and September 30, 2024.

Common stock

The Company’s authorized
shares of common stock were 1,000,000,000 and 1,000,000,000 shares with a par value of $0.0001, as of March 31, 2025 and September 30,
2024, respectively. The issued and outstanding shares of common stock were 400,000,000 as of March 31, 2025 and September 30, 2024, respectively.

Restricted net assets

Our ability to pay dividends is
primarily dependent on us receiving distributions of funds from our VIE. Relevant PRC statutory laws and regulations permit payments of
dividends by our VIE and its subsidiaries only out of their retained earnings, if any, as determined in accordance with PRC accounting
standards and regulations and after they have met the PRC requirements for appropriation to statutory reserves. Share capital of our PRC
subs