Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 636

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1
Chunk 636
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2023, the Company had prepaid supplies of $49,495 and $32,195, respectively. The prepayment will be recognized
    in cost of goods sold in its consolidated statement of operations and comprehensive loss when the corresponding deferred revenue
    is recognized.

    (2)
    As
    of September 30, 2024, the ending balance of prepaid professional services represented $104,742 for the legal service fee for our
    PRC entities. The legal service fee will be amortized to general and administrative expenses using the straight-line method, over
    the service periods of October and November 2024.

These
amounts are expected to be recoverable within twelve (12) months.

NOTE
5 - OTHER RECEIVABLES

Other
receivables included the following:

SCHEDULE OF OTHER RECEIVABLES

    2024  
    2023 

    September 30, 

    2024  
    2023 
  
    Deposits 
    $136,119  
    $14,111 
  
    Advance to employees 
     42,894  
     2,604 
  
    Advance to third-party company 
     34,912  
     - 
  
    Others 
     37,663  
     6,345 
  
    Total other receivables, net 
    $251,588  
    $23,060 

Advance
to employees represents funds provided to our officers and employees for business expenses, such as travel, parking, gasoline, membership,
and meals, that are anticipated to be incurred by our officers and employees on behalf of the Company. Advances to employees are required
to be repaid in cash within a year.

Advance to third-party company
represents funds provided to third-party company for rental fee and deposit.

    F-36

NOTE
6 – INVENTORY

Inventory
consisted of the following:

SCHEDULE
OF INVENTORY

    2024  
    2023 

    September 30, 

    2024  
    2023 
  
    Finished goods 
    $15,700  
    $107,263 
  
    Total 
    $15,700  
    $107,263 

NOTE
7 - PROPERTY AND EQUIPMENT, NET

Property
and equipment consisted of the following:

SCHEDULE OF PROPERTY AND EQUIPMENT

    2024  
    202