Company: KPEA
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006580
Chunk: 79

Company: Kun Peng International Ltd.
Filing Date: 2025-02-14
Form: 10-Q
Item: Item 1
Chunk 79
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’s Articles of Incorporation were amended to increase the Company’s authorized capital
to 210,000,000 authorized shares of capital stock with 200,000,000 designated as $0.0001 par value common stock and 10,000,000 designated
as $0.0001 par value preferred stock.

    32

Effective
on October 12, 2022, 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 December 31, 2024 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 December
31, 2024 and September 30, 2024, respectively. The issued and outstanding shares of common stock were 400,000,000 as of December 31,
2024 and September 30, 2024, respectively.

Restricted
net assets

Our
ability to pay