Kun Peng International Ltd. Files 2023 10-K

TL;DR

<b>Kun Peng International Ltd. has filed its 2023 10-K report, detailing its financial performance and business operations for the fiscal year ending September 30, 2023.</b>

AI Summary

Kun Peng International Ltd. (KPEA) filed a Annual Report (10-K) with the SEC on January 16, 2024. Kun Peng International Ltd. filed its annual report on Form 10-K for the fiscal year ended September 30, 2023. The company's fiscal year runs from October 1 to September 30. The filing was made on January 16, 2024. The company was formerly known as CX Network Group, Inc. and mLight Tech, Inc. The company's principal executive offices are located in Dongguan, Guangdong Province, China.

Why It Matters

For investors and stakeholders tracking Kun Peng International Ltd., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Kun Peng International Ltd.'s financial health, operational strategies, and risk factors for the fiscal year 2023, crucial for investors to assess the company's current standing and future prospects. Understanding the company's historical name changes and its operational base in China is important context for evaluating its market position and potential growth trajectories.

Risk Assessment

Risk Level: — Kun Peng International Ltd. shows moderate risk based on this filing. The filing is a standard 10-K annual report, which typically contains routine financial and operational disclosures without immediate market-moving news.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Kun Peng International Ltd.'s performance and strategic direction.

Key Players & Entities

• Kun Peng International Ltd. (company) — Filer name
• CX Network Group, Inc. (company) — Former company name
• mLight Tech, Inc. (company) — Former company name
• 2023-09-30 (date) — Fiscal year end
• 2024-01-16 (date) — Filing date
• Dongguan, Guangdong Province (location) — Business address city and province

Forward-Looking Statements

• Kun Peng International Ltd. will continue to operate primarily within the educational services sector. (Kun Peng International Ltd.) — high confidence, target: 2025-09-30
• The company may undergo further strategic shifts or name changes given its historical pattern. (Kun Peng International Ltd.) — low confidence, target: 2026-01-16

FAQ

Industry Context

Kun Peng International Ltd. operates within the educational services sector, as indicated by its SIC code.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key performance indicators.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into the company's strategy and outlook.
3. Examine the risk factors section to understand potential challenges and uncertainties facing the company.

Key Dates

• 2023-09-30: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-01-16: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the 2023 10-K filing, providing updated financial and operational data compared to previous filings.

Key Financial Figures

• $0.2863 — gistrant's common stock on such date of $0.2863 per share on the OTC Market. Shares of
• $0.0001 — 0,000 shares of common stock, par value $0.0001 per share, issued and outstanding. TA

Filing Documents

• form10-k.htm (10-K) — 2400KB
• ex31-1.htm (EX-31.1) — 11KB
• ex31-2.htm (EX-31.2) — 10KB
• ex32-1.htm (EX-32.1) — 5KB
• ex32-2.htm (EX-32.2) — 6KB
• form10-k_002.jpg (GRAPHIC) — 8KB
• form10-k_003.jpg (GRAPHIC) — 32KB
• form10-k_005.jpg (GRAPHIC) — 40KB
• form10-k_006.jpg (GRAPHIC) — 13KB
• form10-k_007.jpg (GRAPHIC) — 1KB
• form10-k_008.jpg (GRAPHIC) — 1KB
• form10-k_009.jpg (GRAPHIC) — 1KB
• form10-k_010.jpg (GRAPHIC) — 1KB
• form10-k_011.jpg (GRAPHIC) — 1KB
• form10-k_012.jpg (GRAPHIC) — 1KB
• form10-k_013.jpg (GRAPHIC) — 1KB
• form10-k_014.jpg (GRAPHIC) — 1KB
• form10-k_015.jpg (GRAPHIC) — 1KB
• form10-k_016.jpg (GRAPHIC) — 1KB
• form10-k_017.jpg (GRAPHIC) — 1KB
• form10-k_018.jpg (GRAPHIC) — 1KB
• form10-k_019.jpg (GRAPHIC) — 1KB
• form10-k_020.jpg (GRAPHIC) — 1KB
• form10-k_021.jpg (GRAPHIC) — 1KB
• form10-k_022.jpg (GRAPHIC) — 1KB
• form10-k_023.jpg (GRAPHIC) — 1KB
• form10-k_024.jpg (GRAPHIC) — 1KB
• form10-k_025.jpg (GRAPHIC) — 1KB
• form10-k_026.jpg (GRAPHIC) — 2KB
• form10-k_01.jpg (GRAPHIC) — 112KB
• 0001493152-24-002378.txt (&nbsp;) — 10592KB
• kpea-20230930.xsd (EX-101.SCH) — 58KB
• kpea-20230930_cal.xml (EX-101.CAL) — 110KB
• kpea-20230930_def.xml (EX-101.DEF) — 276KB
• kpea-20230930_lab.xml (EX-101.LAB) — 402KB
• kpea-20230930_pre.xml (EX-101.PRE) — 394KB
• form10-k_htm.xml (XML) — 1647KB

financial statements

financial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant recovery period pursuant to 240.10D-1(b). Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes No The aggregate market value of the 112,215,560 shares of common stock held by non-affiliates of the registrant as of March 31, 2023 (the last business day of the registrant's most recently completed second fiscal quarter) was $ 32,127,315 based on the last sale price of the registrant's common stock on such date of $0.2863 per share on the OTC Market. Shares of the registrant's common stock held by each executive officer and director and by each person who holds 10% or more of the outstanding common stock have been excluded in that such persons may be deemed to be affiliates. This determination of affiliate status is not necessarily a conclusive determination for other purposes. As of January 10, 2024, the registrant had 400,000,000 shares of common stock, par value $0.0001 per share, issued and outstanding. TABLE OF CONTENTS TO ANNUAL REPORT ON FORM 10-K FOR THE YEAR ENDED SEPTEMBER 30, 2023 Page Part I

BUSINESS

ITEM 1. BUSINESS 5

RISK FACTORS

ITEM 1A. RISK FACTORS 35

UNRESOLVED STAFF COMMENTS

ITEM 1B. UNRESOLVED STAFF COMMENTS 58

PROPERTIES

ITEM 2. PROPERTIES 58

LEGAL PROCEEDINGS

ITEM 3. LEGAL PROCEEDINGS 59

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 59 Part II

MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASE OF EQUITY SECURITIES

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASE OF EQUITY SECURITIES 59

RESERVED

ITEM 6. RESERVED 61

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 61

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 76

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 76

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 77

CONTROLS AND PROCEDURES

ITEM 9A. CONTROLS AND PROCEDURES 78

OTHER INFORMATION

ITEM 9B. OTHER INFORMATION 79 Part III

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 79

EXECUTIVE COMPENSATION

ITEM 11. EXECUTIVE COMPENSATION 84

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 86

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS 86

PRINCIPAL ACCOUNTING FEES AND SERVICES

ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 88

EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 88 2 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This report, including, without limitation, statements under the sections entitled "Business," "Risk Factors," and "Management's Discussion and Analysis of Financial Condition and Results of Operations," includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act"). These statements involve known and unknown risks, uncertainties, and other factors which may cause our actual results, performance, or achievements to be materially different from any historical results and future results, performances, or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to, the following factors: Our independent registered auditors have expressed substantial doubt about our ability to continue as a going concern. We may continue to incur losses in the future and may not be able to return to profitability, which may cause the market price of our shares to decline. Our business plan is based on a relatively new model that may not be successful and we may not successfully implement our business strategies. Forward-looking Given these uncertainties, you should not place undue reliance on these forward-looking statements. Also, forward-looking statements represent our estimates and assumptions only as of the date of this report. You should read this report and the documents that we reference and filed as exhibits to the report completely and with the understanding that our actual future results may be materially different from what we expect. Except as required by law, we assume no obligation to update any forward-looking sta

View Full Filing

View this 10-K filing on SEC EDGAR