Company: KPEA
Filing Date: 2025-01-14
Form Type: 10-K
Source: 0001493152-25-002124
Chunk: 321

Company: Kun Peng International Ltd.
Filing Date: 2025-01-14
Form: 10-K
Item: Item 8
Chunk 321
---
    Classification 
    2024  
    2023 

    September 30, 
  
    Lease Cost 
    Classification 
    2024  
    2023 
  
    Operating lease cost 

    Lease expenses –
short-term 
    General and administrative 
    $8,328  
    $- 
  
    Lease expenses 
    General and administrative 
     296,226  
     330,626 
  
    Finance lease cost 

    Amortization of leased asset 
    Cost of sales 
     87,265  
     - 
  
    Interest on lease liabilities 
    Other expense - other 
     6,688  
     - 
  
    Total lease cost 
      
    $398,506  
    $330,626 

Maturities
of lease liabilities as of September 30, 2024, were as follow:

SCHEDULE
OF MATURITY OF  LEASE LIABILITIES

    Maturity of Lease Liabilities 
    Operating lease  
    Finance lease 
  
    2025 
    $244,243  
    $205,103 
  
    2026 
     44,887  
     77,848 
  
    Thereafter 
     -  
     - 
  
    Total lease payments 
     289,130  
     282,951 
  
    Less: Interest 
     (5,529) 
     (9,210)
  
    Present value of lease payments 
    $283,601  
    $273,741 

    F-44

Maturities
of operating lease liabilities as of September 30, 2023, were as follow:

    Maturity of Lease Liabilities 
    Operating Leases 
  
    2024 
    $331,190 

    2025 
     97,074 
  
    Thereafter 
     - 
  
    Total lease payments 
    $428,264 
  
    Less: interest 
     (13,935)
  
    Present value of lease payments 
    $414,329 

Supplemental
information related to operating leases was as follows:

SCHEDULE OF OPERATING LEASES 

    2024  
    2023 

    September 30 

    2024  
    2023 
  
    Cash paid for amounts included in the