Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 735

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 1A
Chunk 735
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 financial reporting that adversely affected our internal controls
and that are considered to be material weaknesses as described herein above. A material weakness is a deficiency, or a combination of
deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement
of the company’s annual or interim financial statements will not be prevented or detected on a timely basis.

Notwithstanding
the existence of these material weaknesses in our internal control over financial reporting, our management believes that the financial
statements included in its reports fairly present in all material respects the Company’s financial condition, results of operations,
and cash flows for the periods presented. We continue to evaluate the effectiveness of internal controls and procedures on an on-going
basis. 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 US GAAP reporting. However, due to our current limited cash flow, we cannot assure you when we will
be able to implement those remediation methods.

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

96

(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
Exchange Act) during the fourth fiscal quarter of the fiscal year ended September 30, 2024, 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.

ITEM
9B. OTHER INFORMATION

None.

Part
III

ITEM
10. DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE

Executive
Officers and Directors

The
following table and text set forth the names and ages of all directors and executive officers as of the date of this Annual Report.

There
are no family relationships among our directors and executive officers. Each director is elected at our annual meeting of shareholders
and holds office until the next annual meeting of shareholders, or until his successor is elected and qualified. Also provided herein
are brief descriptions of the business experience of each director and executive officer during the past five years and an indication
of directorships held by each director in other companies subject to the reporting requirements under the federal securities laws. None
of our officers or directors