Kun Peng International (KPEA) 10-K 13 Jan 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Sep. 30, 2016	Jan. 13, 2017	Mar. 31, 2016
Document And Entity Information
Entity Registrant Name	mLight Tech, Inc.
Entity Central Index Key	1,502,557
Document Type	10-K
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 132,000
Entity Common Stock, Shares Outstanding		206,500,000
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,016

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Current assets
Accounts receivable, net of allowance of $32,578 and $43,983 at September 30, 2016 and September 30, 2015, respectively	$ 122,453	$ 179,033
Total current assets	122,453	179,033
Property and equipment, net	5,801	6,172
Security deposit	10,756	6,270
Total Assets	139,010	191,475
Current liabilities
Bank overdraft	15,153	1,701
Accounts payable	148,777	73,583
Accrued expenses	40,433	50,238
Accrued interest	18,695	12,419
Refundable deposits	1,220	3,220
Deferred revenue		23,750
Payable to officer	64,600	500
Purchase commitments	365,538	369,547
Notes payable, current portion, net of discount of $34,343 at September 30, 2016 and $0 at September 30, 2015	200,856
Total current liabilities	855,272	534,958
Notes payable, long term portion		125,500
Total liabilities	855,272	660,458
Commitments and contingencies (Notes 4, 5, 6 and 7)
Stockholders' equity (deficit)
Common stock, $0.0001 par value, 300,000,000 shares authorized; 206,500,000 shares issued and outstanding at September 30, 2016 and September 30, 2015, respectively	20,650	20,650
Accumulated deficit	(736,912)	(489,633)
Total stockholders' equity (deficit)	(716,262)	(468,983)
Total Liabilities and Stockholders' Equity (Deficit)	$ 139,010	$ 191,475

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Consolidated Balance Sheets Parenthetical
Accounts receivable, net of allowance	$ 32,578	$ 43,983
Notes payable, current portion, net of discount	$ 34,343	$ 0
Stockholders' deficit
Common Stock, shares authorized	300,000,000	300,000,000
Common Stock, par value per share	$ 0.0001	$ 0.0001
Common Stock, shares issued	206,500,000	206,500,000
Common Stock, shares outstanding	206,500,000	206,500,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Revenues
Tuition	$ 2,524,821	$ 1,595,291
Licensing fees	23,750	86,250
Other	11,902
Total Revenues	2,560,473	1,681,541
Cost of sales	1,339,314	853,679
Gross profit	1,221,159	827,862
Operating expenses
Selling, general and administrative	1,443,324	721,533
Depreciation and amortization	3,007	2,161
Total operating expenses	1,446,331	723,694
Income (loss) from continuing operations	(225,172)	104,168
Other income (expenses)
Interest expense	21,307	(5,876)
Total other income (expenses)	(21,307)	(5,876)
Income (loss) from operations before income tax	(246,479)	98,292
Provision for Income Taxes	800	1,560
Net income (loss)	$ (247,279)	$ 96,732
Basis and diluted net income per share	$ 0	$ 0
Weighted average number of common shares outstanding	206,500,000	206,500,000

Statement of Changes in Stockho

Statement of Changes in Stockholders' Equity (Deficit) - USD ($)	Common Stock	Accumulated Deficit	Total
Beginning Balance, Shares at Sep. 30, 2014	206,500,000
Beginning Balance, Amount at Sep. 30, 2014	$ 20,650	$ (586,365)	$ (565,715)
Net loss		96,732	96,732
Ending Balance, Shares at Sep. 30, 2015	206,500,000
Ending Balance, Amount at Sep. 30, 2015	$ 20,650	(489,633)	(468,983)
Net loss		(247,279)	(247,279)
Ending Balance, Shares at Sep. 30, 2016	206,500,000
Ending Balance, Amount at Sep. 30, 2016	$ 20,650	$ (736,912)	$ (716,262)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended		15 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2017
Cash flows from operating activities
Net income (loss)	$ (247,279)	$ 96,732
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	3,007	2,161
Amortization of debt discount	14,932
Bad debts	121,832	80,405
Changes in operating assets and liabilities
Accounts receivable	65,252	(189,161)
Security deposit	(4,486)
Bank overdraft	13,452	1,701
Accounts payable	75,194	23,878
Accrued expenses	(9,805)	14,308
Accrued interest	(6,275)	(54,166)
Refundable deposits	(2,000)	(6,080)
Deferred revenue	(23,750)	23,750
Purchase commitments	(4,008)	(6,396)
Net cash used in operating activities	(121,888)	(12,868)
Cash flows from investing activities
Acquisition of property and equipment	(2,636)	(1,820)
Net cash used in investing activities	(2,636)	(1,820)
Cash flows from financing activities
Cash proceeds from notes payable	109,500
Repayment of note payable	(49,076)	(7,500)	$ (125,500)
Cash received from officer	64,100
Net cash provided by financing activities	124,524	(7,500)
Net increase (decrease) in cash and cash equivalents		(22,188)
Cash and cash equivalents at the beginning of year		22,188
Cash and cash equivalents at the end of year
Supplemental disclosures of cash flows information:
Cash paid for income taxes	6,612	1,050
Cash paid for interest	$ 14,392

Nature of Operations and Going

Nature of Operations and Going Concern	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
NOTE 1 - Nature of Operations and Going Concern	As used herein and except as otherwise noted, the term "Company", "it(s)", "our", "us", "we" and "mLight" shall mean mLight Tech, Inc., a Florida corporation, and The Ding King Training Institute, Inc., a California corporation, its wholly-owned subsidiary. mLight Tech, Inc. was incorporated in the State of Florida on September 3, 2010, to provide software solutions that simplify the management of networked personal computers. On October 31, 2013, the Company acquired 100% of the issued and outstanding capital stock of The Ding King Training Institute, Inc. ("DKTI"), a California corporation, in exchange for 2,500,000 shares of its common stock. As a result of DKTI's acquisition, DKTI became a wholly-owned subsidiary of the Company. DKTI was the acquirer for financial reporting purposes and mLight is the acquired company. The merger was accounted for as a recapitalization. Consequently, the assets and liabilities and the operations that are reflected in the historical financial statements prior to the merger are those of DKTI, and are recorded at the historical cost basis of DKTI. Subsequent to the merger, the operations of mLight are consolidated with the operations of DKTI. The Company elected to retain September 30 to be its fiscal year end. The principal business of DKTI is training individuals for a career as a technician in the Automotive Appearance Industry, which includes paintless dent repair, interior restoration, windshield repair, window detailing, odor removal, auto detailing and alloy wheel repair. The individual students are normally employees of auto body shops, car dealers and entrepreneurs looking to start their own businesses. The financial information presented in these notes to the Company's consolidated financial statements is for the years ended September 30, 2016 and 2015. As shown in the accompanying consolidated financial statements, the Company has faced significant liquidity shortages. As of September 30, 2016, the Company's total liabilities exceeded its total assets by $716,262. The Company has recorded a net loss of $247,279 for the year ended September 30, 2016 and has recorded an accumulated deficit of $736,912 as of September 30, 2016. The Company has been unable to satisfy its purchase commitments to vendors (See Note 6). These factors raise a substantial doubt about the Company's ability to continue as a going concern. If the Company is unable to obtain adequate capital through borrowings, it could be forced to cease operations. Because the Company has no contractual commitments with respect to any of these initiatives, there can be no assurance that additional funds for operations will be available on commercially reasonable terms or in the necessary amounts. Management has further expanded its operations geographically to continue its revenue and profit growth. Management has negotiated an extension for $125,500 note payable obligations to provide additional time to realize its expansion plans and/or raise additional capital. The consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
NOTE 2 - Summary of Significant Accounting Policies	The following summary of significant accounting policies of the Company is presented to assist in the understanding of the Company's consolidated financial statements. The consolidated financial statements and notes are the representation of the Company's management who is responsible for their integrity and objectivity. The consolidated financial statements of the Company conform to accounting principles generally accepted in the United States of America (U.S. GAAP). Principles of Consolidation The accompanying consolidated financial statements include the accounts of mLight Tech, Inc. and its wholly-owned subsidiary The Ding King Training Institute, Inc. All intercompany balances and transactions are eliminated in consolidation. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected. Cash and Cash Equivalents The Company considers all highly liquid short-term investments with a maturity of three months or less, when acquired, including money market accounts, to be cash equivalents. Periodically, the Company maintains cash balances at a bank in excess of the Federal Deposit Insurance Corporation (FDIC) insurance limit. Management does not believe there is significant credit risk associated with this financial institution. Accounts Receivable Accounts receivable represent income earned from training provided to students for which the Company has not yet received payment. Payment plans are offered to students to pay off remaining tuition on an installment basis over periods not to exceed one year. Accounts receivable are recorded at the invoiced amount and stated at the amount management expect to collect from balances outstanding at period-end. The Company estimates the allowance for doubtful accounts based on an analysis of specific accounts and an assessment of the customer's ability to pay. The Company recorded bad debt expense of $121,832 and $80,405 for the years ended September 30, 2016 and 2015, respectively. Property and Equipment Property and equipment are stated at cost. Depreciation of property and equipment is calculated based on the straight-line method over the estimated useful lives of the related assets as summarized below. Major renewals and betterments are capitalized while maintenance costs are expensed as incurred. Depreciation and amortization expense was $3,007 and $2,161 for the years ended September 30, 2016 and 2015, respectively. Machinery and equipment 3 - 5 years Office furniture and fixtures 5 years Fair value of Financial Instruments and Fair Value Measurements ASC 820, "Fair Value Measurements and Disclosures", requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value: Level 1 Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The Company's financial instruments consist principally accounts receivable, accounts payable, accrued liabilities, and notes payable. Pursuant to ASC 820 and ASC 825, "Financial Instruments", the fair value of our cash equivalents is determined based on "Level 1" inputs, which consist of quoted prices in active markets for identical assets. The Company believes that the recorded values of all of the other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. The Company had no financial assets or liabilities carried and measured on a non-recurring basis during the reporting periods. Financial assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared. Environmental Matters The Company’s operations are subject to evolving federal, state and local environmental laws and regulations related to the discharge of materials into the environment. The Company’s process is not expected to produce harmful levels of emissions or waste by-products. However, these laws and regulations would require us to remove or mitigate the environmental effects of the disposal or release of substances at our site should they occur. Compliance with such laws and regulations can be costly. Additionally, governmental authorities may enforce the laws and regulations with a variety of civil and criminal enforcement measures, including monetary penalties and remediation requirements. Management is not aware of any area of non-compliance with federal, state or local environmental laws and regulations. Revenue Recognition The Company's tuition packages vary in price according to the different types of training programs purchased by the students. Upon commencement of the courses, the Company recognizes as revenue any deposits previously received, as they are non-refundable upon commencement of the courses. The remaining tuition from the student or the student's employer, which is received upon the commencement of the course or extended credit over a period not to exceed one year or as agreed upon, is recognized as revenue upon the completion of the training courses. The training course duration is from one to two weeks. The Company's revenue recognition policy is based on the revenue recognition criteria established under the SEC's Staff Accounting Bulletin No. 104. The criteria and how the Company satisfies each element are as follows: (1) persuasive evidence of an arrangement - the Company and the student or the student's employer (the customer) enters into a signed contract with the Company; (2) delivery has occurred - as noted above, upon the commencement of the course, the deposit is non-refundable per the terms of the signed contract and upon completion of the course, the Company has provided all services to be delivered to the student under the contract; (3) the price is fixed and determinable - the signed contract indicates a fixed dollar amount for the tuition for the courses enrolled by the student; (4) collectability is reasonable assured - the Company receives as payment a deposit and the balance of the tuition before the course is completed, or credit is extended for installment payments, as evidenced by promissory note not to exceed one year. The Company records licensing revenue by granting an annual exclusive license to sell Dent Tools Direct, USA Inc. ("Dent Tools") merchandise online under the Ding King name and logo on the DKTI website. The Company recognizes licensing revenue ratably monthly as the Company earns revenue and satisfies conditions for recognition of revenues. Income Taxes The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, Income Taxes Accounting for Uncertain Income Tax Positions Earnings (Loss) Per Common Share The Company computes net earnings (loss) per share in accordance with ASC 260, "Earnings per Share". Comprehensive Income (Loss) ASC 220, Comprehensive Income Recent Accounting Pronouncements In February 2016, the FASB issued ASU 2016-02, " Leases In January 2016, the FASB issued ASU 2016-01, “ Financial Instruments - Overall Recognition and Measurement of Financial Assets and Financial Liabilities. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers: Topic 606 The Company has implemented all new accounting pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Payroll Taxes

Payroll Taxes	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
NOTE 3 - Payroll Taxes	On January 21, 2016, the Company negotiated a settlement with the Internal Revenue Service ("IRS") taxing authority and agreed to pay previously unpaid payroll tax obligations of $18,130 over a period of 24 months, with a monthly payment of $756 starting March 15, 2016. The Company had accrued a total obligation to the IRS of $44,442 which included an estimate for penalties and interest. The IRS would consider waiving the charges for penalties and interest, provided the Company submitted a written request to the IRS for waiver of penalties and interest. The Company has submitted a request for waiver of penalties and interest, and is waiting for a formal approval from the IRS. The monthly payment of $756 has been deferred by the IRS pending resolution of the Company's waiver request. Management has reduced the payroll tax liability by $26,370 as a change in estimate, which is reflected in selling, general and administrative line item on the consolidated statements of operations for the year ended September 30, 2016. The Company has included this unpaid payroll taxes obligation of $18,130 and $44,500 in accrued expenses on the balance sheets at September 30, 2016 and 2015, respectively. The Company paid this obligation subsequent to year end and is awaiting IRS approval of the negotiated settlement to waive the remaining penalties and interest.

Notes Payable

Notes Payable	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
NOTE 4 - Notes Payable	Notes payable consist of: September 30, 2016 September 30, 2015 Note payable to individual, unsecured, 5% interest, due March 31, 2017 (“Note A”) $ 50,000 $ 50,000 Note payable to individual, unsecured, 5% interest, due March 31, 2017 (“Note B”) 68,000 68,000 Note payable to individual, unsecured, 5% interest, due March 31, 2017 (“Note C”) 7,500 7,500 Note payable to bank, secured, week day payment of $481.14 for 330 weekdays (“Loan”) 109,699 - 235,199 125,500 Less: Debt discount (34,343 ) - Notes payable - current portion, net of debt discount of $34,343 $ 200,856 $ 125,500 On January 9, 2015, the Company and the individual debt holder of the three promissory notes Note A, Note B and Note C, collectively referred to as (“Notes”), totaling $133,000, mutually agreed to extend the payment due date of the Notes due on March 31, 2015 to March 31, 2017, at which time, the unpaid principal and accrued interest on the Notes is due in full as a balloon payment. For the year ended September 30, 2016, the Company made no cash payments towards the Notes, and for the year ended September 30, 2015, the Company made a cash payment of $7,500 towards the Note C. Subsequent to the year ended September 30, 2016, management has negotiated with the debt holder an extension for payment for Note A, Note B and Note C amounting to $125,500, to December 31, 2017, bearing the same terms. The Company has recorded interest expense of $6,275 and $5,876 for the years ended September 30, 2016 and 2015, respectively. On May 9, 2016, the Company entered into a Business Loan Agreement (“Loan”) with a third party financier and received cash proceeds of $109,500. The Loan is secured by the assets of the Company and requires the Company to make a daily cash payment of principal and interest, amounting to $481.14 on each business day, for a total of 330 business days. The total daily cash payments of principal and interest at maturity date would amount to $158,775. In connection with the issuance of the Loan, the Company recorded an OID discount of $49,275 which is being amortized to interest expense over the term of Loan using the effective interest method. As of September 30, 2016, the Company has made total cash payments of $49,076 on the Loan. The Company has recorded the amortization of OID discount as interest expense of $14,932 for the year ended September 30, 2016. The unamortized portion of OID discount at September 30, 2016 was $34,343 and the principal balance due on the Loan at September 30, 2016 was $109,699. The Loan Agreement specifically requires the Company to use the cash proceeds solely for its working capital needs and not to be used for funding dividends or distributions to shareholders. The Company is in violation of the terms of Loan Agreement since the Company has used the cash proceeds received to fund its officer's compensation.

Commitments And Contingencies

Commitments And Contingencies	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
NOTE 5 - Commitments And Contingencies	Operating Lease The Company leases real property in Costa Mesa, California, under an operating lease which commenced on August 1, 2014 for a term of thirty-six (36) months and expires on July 31, 2017. During the lease term, the Company paid an initial monthly base rent of $1,843 plus its share of monthly direct expense charge of $566 for a total initial monthly rent of $2,409 for a period of twelve (12) months. The monthly base rent increased to $1,899 commencing August 1, 2015 and continuing through July 31, 2016, and to $1,956 commencing August 1, 2016 and continuing through July 31, 2017, respectively. The monthly direct expense charge is subject to adjustment pursuant to the terms of the lease. The Company paid a security deposit of $6,270 upon execution of the lease. On September 25, 2015, the Company executed another leased property in Costa Mesa, California, under an operating lease which commenced on October 1, 2015 for a term of twenty (20) months that expires on July 31, 2017. During the first twelve months of the lease term, the Company paid a monthly base rent of $712 plus its share of monthly common area maintenance charge of $120 for a total monthly commitment of $832. Thereafter, starting October 1, 2016, the monthly base rent will increase to $741 plus monthly share of common are maintenance of $120 for a total monthly commitment of $861. The Company paid a security deposit of $861 on this lease. On January 7, 2016, the Company agreed to lease a real property in Greenville, South Carolina, under an operating lease arrangement for a thirty-six (36) months term commencing April 1, 2016 for a monthly base rent of $900 and an additional monthly charge of $125 for common area maintenance. The Company paid a security deposit of $1,025 and the lease expires on March 31, 2019. On June 27, 2016, the Company entered into an operating lease in Costa Mesa, California, whereby, the Company sub-leased an office space from a third party effective June 1, 2016, at a monthly rent of $1,400 for a period of twenty-five (25) months. The Company paid a security deposit of $1,400 and the sub-lease expires on June 30, 2018. The total rent expense including common area maintenance charges was $65,060 and $30,719 for the years ended September 30, 2016 and 2015, respectively. The minimum future payment commitment for the lease property is summarized below: For the year ending September 30: Payments 2017 $ 62,926 2018 24,900 2019 6,150 Total $ 93,976 Legal Matters From time to time the Company may become a party to litigation matters involving claims against the Company. Management believes that there are no current matters that would have a material effect on the Company's financial position or results of operations.

Purchase Commitments

Purchase Commitments	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
NOTE 6 - Purchase Commitments	The Company received $430,000 in advances from a manufacturer and a distributor for anticipated rebates from purchases of paint and related products. In exchange for the advanced funds, the Company agreed to exclusively purchase paint and related products from the manufacturer and the distributor over a five and seven year period commencing in 2007 up to a certain dollar volume amount (the "Rebate Agreement(s)"). The Company initially recorded the amount of the advances as a liability on the balance sheet under "Purchase commitments". Based on the volume of products purchased by the Company, this liability is reduced on a pro-rata basis. The Company has not purchased the volume of products at the rate anticipated in the Rebate Agreements. Based on the amount of products purchased to date by the Company, the remaining amount of the rebates advanced is $365,538 and $369,547 as of September 30, 2016 and 2015, respectively. The total dollar amount of products the Company is required to buy under the Rebate Agreement from the distributor was $4,200,000. The Company's original distributor ceased operations and sold its business to the Company's current distributor, and management believes the Rebate Agreement was assigned to the current distributor. The Rebate Agreement with the distributor expired in November 2012. Management is still operating under the same contractual terms of the agreement as if it is still effective. The Company has previously made an effort to contact the current distributor regarding its purchase commitments. Management anticipates they will be able to successfully negotiate a revised agreement to fulfill the purchase commitment or obtain a concession from the distributor as the Company is currently purchasing products in the ordinary course of business. In the event the Company cannot negotiate a satisfactory agreement, other vendors exist in the market to purchase these products and management believes there would be no significant impact on the Company's operations. If the Company is unable to negotiate an extension or concessions to repay the obligation, the Company may incur legal costs of litigation for breach of contract. The total dollar amount of products the Company is required to buy under the Rebate Agreement from the manufacturer was $1,780,000. The contract with the manufacturer expired in November 2014. Management is still operating under the same contractual terms of the agreement as if it is still effective. The Company has previously made an effort to contact the current manufacturer regarding its purchase commitments. If the Company cannot fulfill the purchase obligation, management anticipates they will be able to negotiate a time extension to fulfill the purchase commitment. If the Company is unable to negotiate extensions or concessions to repay the obligation, the Company may incur legal costs of litigation for breach of contract.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
NOTE 7 - Related Party Transactions	Transactions with the Principal Shareholder/Officer Cash paid to the principal shareholder/officer have been recorded as compensation to officer. The Company has recorded $283,881 and $133,560 as compensation expense for the years ended September 30, 2016 and 2015, respectively. The Company recorded an automobile expense of $5,454 and $0 for the auto lease payments made by the Company on behalf of the principal shareholder/officer for the years ended September 30, 2016 and 2015, respectively. In addition, the same officer provided a short-term advance to the Company in the amount of $64,600 and $500 as of September 30, 2016 and 2015, respectively, towards the Company's working capital requirements. Purchases and Advances from Affiliated Entity The Company had purchased its paintless repair tools in the past from Dent Tools Direct ("Dent Tools"), a previously affiliated entity through common ownership. On January 17, 2014, the principal shareholder of the Company divested his ownership interest in Dent Tools for $1 consideration. For the years ended September 30, 2016 and 2015, the Company purchased $0 and $102,579 of tools from Dent Tools, of which no amounts were outstanding as payables at September 30, 2016 and 2015, respectively. On January 4, 2013, DKTI entered into a licensing agreement with Dent Tools whereby, DKTI granted an exclusive license to Dent Tools to sell Dent Tools merchandise online under the Ding King name and logo on the DKTI website. Dent Tools agreed to pay DKTI a royalty of $300,000 over a 24 month period. The payment terms agreed for licensing were a monthly payment of $20,000 for the calendar year 2013 for a total of $240,000, and the remaining balance of $60,000 to be paid at the monthly amount of $5,000 over the next twelve months. In addition, Dent Tools agreed to settle on behalf of DKTI a note payable to an individual in the amount of $25,000 in lieu of payment towards the licensing fee during the year ended September 30, 2014. On September 15, 2014, DKTI and Dent Tools renewed their licensing agreement whereby Dent Tools agreed to pay cash or sell product in advance $95,000 in licensing fees for the twelve months period starting January 1, 2015 to December 31, 2015. The Company has recorded $23,750 and $86,250 in licensing revenues for the years ended September 30, 2016 and 2015, respectively. In addition, the Company recorded $0 and $23,750 as deferred revenues as of September 30, 2016 and 2015, respectively. As the license agreement expired on December 31, 2015, all revenue has been recognized. The Company currently has no license agreement in place to provide future revenues.

Income Taxes

Income Taxes	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
NOTE 8 - Income Taxes	Income tax expense for the years ended September 30, 2016 and 2015 is summarized as follows: September 30, 2016 September 30, 2015 Current: Federal $ - $ - State 800 1,560 Deferred taxes - - Income tax expense (benefit) $ 800 $ 1,560 The following is a reconciliation of the provision for income taxes at the U.S. federal income tax rate of 34% to the income taxes reflected in the Statements of Operations: September 30, 2016 September 30, 2015 Tax expense at statutory rate – federal 34 % 34 % State tax expense, net of federal benefit - % 2 % Valuation allowance (34 )% (34 )% Tax expense at actual rate - % 2 % The tax effects of temporary differences that gave rise to significant portions of deferred tax assets and liabilities at September 30, 2016 and 2015 are as follows: September 30, 2016 September 30, 2015 Deferred tax assets: Net operating loss carry forward $ 250,550 $ 166,475 Less - valuation allowance (250,550 ) (166,475 ) Net deferred tax assets $ - $ - Deferred income taxes are provided for the tax effects of transactions reported in the consolidated financial statements and consist of deferred taxes related primarily to differences between the bases of certain assets and liabilities for financial and tax reporting. The deferred taxes represent the future tax return consequences of those differences, which will either be deductible or taxable when the assets and liabilities are recovered or settled. The Company's provision for income taxes differs from applying the statutory U.S. Federal income tax rate to income before income taxes. The primary differences result from deducting certain expenses for financial statement purposes but not for federal income tax purposes. At September 30, 2016, the Company had an accumulated deficit of $736,912 for U.S. federal income tax purposes available to offset future taxable income expiring on various dates through 2035. The Company has recorded a 100% valuation allowance on the deferred tax assets due to the uncertainty of its realization. The net change in the valuation allowance for the year ended September 30, 2016 was an increase of $84,075, and a decrease of $32,889 for the year ended September 30, 2015. In the normal course of business, the Company's income tax returns are subject to examination by various taxing authorities. Such examinations may result in future tax and interest assessment by these taxing authorities. Accordingly, the Company believes that it is more likely than not that it will realize the benefits of tax positions it has taken in its tax returns or for the amount of any tax benefit that exceeds the cumulative probability threshold in accordance with FASB ASC 740-10-15. Differences between the estimated and actual amounts determined upon ultimate resolution, individually or in the aggregate, are not expected to have a material adverse effect on the company's financial position. The Company believes its tax positions are all highly certain of being upheld upon examination. As such, the Company has not recorded a liability for unrecognized tax benefits. The Company's wholly-owned subsidiary files its income tax returns on a stand-alone basis. As of September 30, 2016, tax years of the Company's subsidiary for the years 2014, 2015 and 2016 remain open for IRS audit. The Company has received no notice of audit from the Internal Revenue Service for any of the open tax years.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
NOTE 9 - Stockholders' Equity	The Company's capitalization at September 30, 2016 was 300,000,000 authorized common shares with a par value of $0.0001 per share. On February 8, 2013, mLight's board of directors authorized a 20 for 1 forward split. The record date of the split was February 26, 2013 and the effective date was February 27, 2013. After the split, the total issued and outstanding shares were 204,000,000. All prior period shares and per share calculations in these financial statements and elsewhere in this report have been retroactively adjusted to reflect this stock split. On August 1, 2013, in a private transaction, Todd Sudeck, the sole director and officer of the Company, acquired a total of 180,000,000 shares of the Company's common stock from Edward Sanders, the Company's former director and officer and principal shareholder. Mr. Sudeck's 180,000,000 shares amount to approximately 88.24% of the Company's currently issued and outstanding common stock. On October 31, 2013, the Company acquired all 100% of the issued and outstanding capital stock of The Ding King Training Institute, Inc. by issuing 2,500,000 shares of its common stock valued at $250. The acquisition is being accounted as recapitalization. At the closing of the acquisition, the Company recorded an increase in common stock of $15,400 as a result of recapitalization. As a result of stock issuances, the Company has 206,500,000 shares of common stock issued and outstanding at September 30, 2016 and 2015, respectively.

Subsequent Events

Subsequent Events	12 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
NOTE 10 - Subsequent Events	Management has evaluated subsequent events through January 13, 2017, the date the financial statements were available to be issued, noting no items that would impact the accounting for events or transactions in the current period or require additional disclosure.

Summary of Significant Accoun17

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Sep. 30, 2016
Summary Of Significant Accounting Policies Policies
Principles of Consolidation	The accompanying consolidated financial statements include the accounts of mLight Tech, Inc. and its wholly-owned subsidiary The Ding King Training Institute, Inc. All intercompany balances and transactions are eliminated in consolidation.
Use of Estimates	The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company's estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.
Cash and Cash Equivalents	The Company considers all highly liquid short-term investments with a maturity of three months or less, when acquired, including money market accounts, to be cash equivalents. Periodically, the Company maintains cash balances at a bank in excess of the Federal Deposit Insurance Corporation (FDIC) insurance limit. Management does not believe there is significant credit risk associated with this financial institution.
Accounts Receivable	Accounts receivable represent income earned from training provided to students for which the Company has not yet received payment. Payment plans are offered to students to pay off remaining tuition on an installment basis over periods not to exceed one year. Accounts receivable are recorded at the invoiced amount and stated at the amount management expect to collect from balances outstanding at period-end. The Company estimates the allowance for doubtful accounts based on an analysis of specific accounts and an assessment of the customer's ability to pay. The Company recorded bad debt expense of $121,832 and $80,405 for the years ended September 30, 2016 and 2015, respectively.
Property and Equipment	Property and equipment are stated at cost. Depreciation of property and equipment is calculated based on the straight-line method over the estimated useful lives of the related assets as summarized below. Major renewals and betterments are capitalized while maintenance costs are expensed as incurred. Depreciation and amortization expense was $3,007 and $2,161 for the years ended September 30, 2016 and 2015, respectively. Machinery and equipment 3 - 5 years Office furniture and fixtures 5 years
Fair value of Financial Instruments and Fair Value Measurements	ASC 820, "Fair Value Measurements and Disclosures", requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value. A financial instrument's categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. ASC 820 prioritizes the inputs into three levels that may be used to measure fair value: Level 1 Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3 Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities. The Company's financial instruments consist principally accounts receivable, accounts payable, accrued liabilities, and notes payable. Pursuant to ASC 820 and ASC 825, "Financial Instruments", the fair value of our cash equivalents is determined based on "Level 1" inputs, which consist of quoted prices in active markets for identical assets. The Company believes that the recorded values of all of the other financial instruments approximate their current fair values because of their nature and respective maturity dates or durations. The Company had no financial assets or liabilities carried and measured on a non-recurring basis during the reporting periods. Financial assets and liabilities measured on a recurring basis are those that are adjusted to fair value each time a financial statement is prepared.
Environmental Matters	The Company’s operations are subject to evolving federal, state and local environmental laws and regulations related to the discharge of materials into the environment. The Company’s process is not expected to produce harmful levels of emissions or waste by-products. However, these laws and regulations would require us to remove or mitigate the environmental effects of the disposal or release of substances at our site should they occur. Compliance with such laws and regulations can be costly. Additionally, governmental authorities may enforce the laws and regulations with a variety of civil and criminal enforcement measures, including monetary penalties and remediation requirements. Management is not aware of any area of non-compliance with federal, state or local environmental laws and regulations.
Revenue Recognition	The Company's tuition packages vary in price according to the different types of training programs purchased by the students. Upon commencement of the courses, the Company recognizes as revenue any deposits previously received, as they are non-refundable upon commencement of the courses. The remaining tuition from the student or the student's employer, which is received upon the commencement of the course or extended credit over a period not to exceed one year or as agreed upon, is recognized as revenue upon the completion of the training courses. The training course duration is from one to two weeks. The Company's revenue recognition policy is based on the revenue recognition criteria established under the SEC's Staff Accounting Bulletin No. 104. The criteria and how the Company satisfies each element are as follows: (1) persuasive evidence of an arrangement - the Company and the student or the student's employer (the customer) enters into a signed contract with the Company; (2) delivery has occurred - as noted above, upon the commencement of the course, the deposit is non-refundable per the terms of the signed contract and upon completion of the course, the Company has provided all services to be delivered to the student under the contract; (3) the price is fixed and determinable - the signed contract indicates a fixed dollar amount for the tuition for the courses enrolled by the student; (4) collectability is reasonable assured - the Company receives as payment a deposit and the balance of the tuition before the course is completed, or credit is extended for installment payments, as evidenced by promissory note not to exceed one year. The Company records licensing revenue by granting an annual exclusive license to sell Dent Tools Direct, USA Inc. ("Dent Tools") merchandise online under the Ding King name and logo on the DKTI website. The Company recognizes licensing revenue ratably monthly as the Company earns revenue and satisfies conditions for recognition of revenues.
Income Taxes	The Company accounts for income taxes using the asset and liability method in accordance with ASC 740, Income Taxes Accounting for Uncertain Income Tax Positions
Earnings (Loss) Per Common Share	The Company computes net earnings (loss) per share in accordance with ASC 260, "Earnings per Share".
Comprehensive Income (Loss)	ASC 220, Comprehensive Income
Recent Accounting Pronouncements	In February 2016, the FASB issued ASU 2016-02, " Leases In January 2016, the FASB issued ASU 2016-01, “ Financial Instruments - Overall Recognition and Measurement of Financial Assets and Financial Liabilities. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers: Topic 606 The Company has implemented all new accounting pronouncements that are in effect and that may impact its consolidated financial statements and does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Sep. 30, 2016
Summary Of Significant Accounting Policies Tables
Property and Equipment	Machinery and equipment 3 - 5 years Office equipment and equipment 5 years

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Sep. 30, 2016
Notes Payable Tables
Notes Payable	September 30, 2016 September 30, 2015 Note payable to individual, unsecured, 5% interest, due March 31, 2017 (“Note A”) $ 50,000 $ 50,000 Note payable to individual, unsecured, 5% interest, due March 31, 2017 (“Note B”) 68,000 68,000 Note payable to individual, unsecured, 5% interest, due March 31, 2017 (“Note C”) 7,500 7,500 Note payable to bank, secured, week day payment of $481.14 for 330 weekdays (“Loan”) 109,699 - 235,199 125,500 Less: Debt discount (34,343 ) - Notes payable - current portion, net of debt discount of $34,343 $ 200,856 $ 125,500

Commitments And Contingencies (

Commitments And Contingencies (Tables)	12 Months Ended
	Sep. 30, 2016
Commitments And Contingencies Tables
Future leases payments	For the year ending September 30: Payments 2017 $ 62,926 2018 24,900 2019 6,150 Total $ 93,976

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Sep. 30, 2016
Income Taxes Tables
Income tax provisions	September 30, 2016 September 30, 2015 Current: Federal $ - $ - State 800 1,560 Deferred taxes - - Income tax expense (benefit) $ 800 $ 1,560
U.S. Federal income tax	September 30, 2016 September 30, 2015 Tax expense at statutory rate – federal 34 % 34 % State tax expense, net of federal benefit - % 2 % Valuation allowance (34 )% (34 )% Tax expense at actual rate - % 2 %
Deferred taxes assets and liabilities	September 30, 2016 September 30, 2015 Deferred tax assets: Net operating loss carry forward $ 250,550 $ 166,475 Less - valuation allowance (250,550 ) (166,475 ) Net deferred tax assets $ - $ -

Nature of Operations and Goin22

Nature of Operations and Going Concern (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014	Oct. 31, 2013
Nature Of Operations And Going Concern Details Narrative
Exchange of common stock for acquisition				2,500,000
Total stockholders' equity (deficit)	$ (716,262)	$ (468,983)	$ (565,715)
Net Income (Loss)	(247,279)	96,732
Accumulated deficit	(736,912)	(489,633)
Notes payable, long term portion		$ 125,500

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Sep. 30, 2016
Machinery and equipment [Member] | Minimum [Member]
Property, plant and equipment, useful life	3 years
Machinery and equipment [Member] | Maximum [Member]
Property, plant and equipment, useful life	5 years
Office equipment and equipment [Member]
Property, plant and equipment, useful life	5 years

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Summary Of Significant Accounting Policies Details Narrative
Bad debt expense	$ 121,832	$ 80,405
Depreciation and amortization expense	$ 3,007	$ 2,161

Payroll Taxes (Details Narrativ

Payroll Taxes (Details Narrative) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Payroll Taxes Details Narrative
Accrued payroll taxes	$ 18,130	$ 44,442
Accrued payroll taxes per month	756
Reduced Payroll tax liability	26,370
Accrued expenses	$ 18,130	$ 44,500

Notes Payable (Details)

Notes Payable (Details) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Notes payable consist of:
Note payable to individual, unsecured, 5% interest, due March 31, 2017 (Note A)	$ 50,000	$ 50,000
Note payable to individual, unsecured, 5% interest, due March 31, 2017 (Note B)	68,000	68,000
Note payable to individual, unsecured, 5% interest, due March 31, 2017 (Note C)	7,500	7,500
Note payable to bank, secured, week day payment of $481.14 for 330 weekdays (Loan)	109,699
Gross notes payable - current portion	235,199	125,500
Less: Debt discount	(34,343)
Total notes payable - current portion	$ 200,856	$ 125,500

Notes Payable (Details Narrativ

Notes Payable (Details Narrative) - USD ($)	12 Months Ended		15 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2017	Jan. 09, 2015
Notes Payable Details Narrative
Promissory notes payable				$ 133,000
Repayment of note payable	$ 49,076	$ 7,500	$ 125,500
Interest expense	$ 6,275	5,876
Maturity date of promissiory notes	Mar. 31, 2017
Proceeds of cash from third party financier	$ 109,500
Daily cash payments of principal and interest	$ 481
Total business day	330 days
Total daily cash payments of principal and interest	$ 158,775
Amortization of interest expense	14,932	$ 49,275
Unamortized OID discount	34,343
Cash payament on loan	49,076
Principal balance due on loan	$ 109,699

Commitments And Contingencies28

Commitments And Contingencies (Details)	Sep. 30, 2015USD ($)
For the year ending September 30:
2,017	$ 62,926
2,018	24,900
2,019	6,150
Total	$ 93,976

Commitments And Contingencies29

Commitments And Contingencies (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	Sep. 25, 2015	Sep. 30, 2016	Sep. 30, 2015
Initial monthly base rent		$ 712
Monthly maintenance charge		120
Monthly commiment fees		832
Rent expense		$ 65,060	$ 30,719
Costa Mesa [Member]
Operating lease commenced date	Oct. 1, 2015	Aug. 1, 2014
Operating lease commence period	20 months	36 months
Operating lease maturity date	Jul. 31, 2017	Jul. 31, 2017
Initial monthly base rent		$ 1,843
Monthly direct expense charge		566
Total monthly rent		$ 2,409
Initial rental period		12 months
Security deposit		$ 6,270
Costa Mesa [Member] | June 1, 2016 [Member]
Operating lease commenced date		Jun. 27, 2016
Operating lease commence period		25 months
Operating lease maturity date		Jun. 30, 2018
Initial monthly base rent		$ 1,400
Security deposit		1,400
Costa Mesa [Member] | October 1, 2016 [Member]
Security deposit		861
Increase monthly base rent		741
Increase maintenance charge		120
Increase commiment fees		861
Costa Mesa [Member] | August 1, 2015 [Member]
Increase monthly base rent		1,899
Costa Mesa [Member] | August 1, 2016 [Member]
Increase monthly base rent		$ 1,956
Greenville [Member] | April 1, 2016 [Member]
Operating lease commenced date		Apr. 1, 2016
Operating lease commence period		36 months
Operating lease maturity date		Mar. 31, 2019
Initial monthly base rent		$ 900
Monthly maintenance charge		125
Security deposit		$ 1,025

Purchase Commitments (Details N

Purchase Commitments (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Advances from manufacturer	$ 430,000
Purchase commitment	365,538	$ 369,547
Rebate Agreement from Distributor [Member]
Purchase Products	4,200,000
Rebate Agreement from Manufacturer [Member]
Purchase Products	$ 1,780,000

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	Jan. 17, 2014	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Sep. 30, 2014
Compensation expense		$ 283,881		$ 133,560
Automobile expense		5,454		0
Short-term unsecured loan		64,600		500
Tools purchased		0		102,579
Payment for licensing agreement, Monthly		20,000
Total Payment for licensing agreement		240,000
Remaining balance, Total		60,000
Remaining balance, Monthly		5,000
Licensing fee			$ 95,000		$ 25,000
Licensing revenues		23,750		86,250
Deffered revenue				$ 23,750
Payment for ownership interest	$ 1
DKTI [Member]
Prepaid Royalties		$ 300,000
Prepaid Royalties term		24 months

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Current
Federal
State	800	1,560
Deferred taxes
Income tax expense (benefit)	$ 800	$ 1,560

Income Taxes (Details 1)

Income Taxes (Details 1)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Income Taxes Details 1
Tax expense at statutory rate – federal	34.00%	34.00%
State tax expense, net of federal benefit	0.00%	2.00%
Valuation allowance	(34.00%)	(34.00%)
Tax expense at actual rate	0.00%	2.00%

Income Taxes (Details 2)

Income Taxes (Details 2) - USD ($)	Sep. 30, 2016	Sep. 30, 2015
Deferred tax assets:
Net operating loss carry forward	$ 250,550	$ 166,475
Less - valuation allowance	(250,550)	(166,475)
Net deferred tax assets

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Income Taxes Details Narrative
Accumulated deficit	$ (736,912)	$ (489,633)
Future taxable income expiring	2,035
Valuation allowance on the deferred tax assets	100.00%
Change in the valuation allowance	$ 84,075	$ 32,889

Stockholders' Equity (Details N

Stockholders' Equity (Details Narrative) - USD ($)	1 Months Ended
	Oct. 31, 2013	Sep. 30, 2016	Sep. 30, 2015	Aug. 01, 2013
Common Stock, shares authorized		300,000,000	300,000,000
Common Stock, par value per share		$ 0.0001	$ 0.0001
Common Stock, shares issued		206,500,000	206,500,000
Common Stock, shares outstanding		206,500,000	206,500,000
Director And Officer [Member]
Common Stock, shares acquired from Edward Sanders				180,000,000
Currently issued and outstanding common stock				88.24%
Ding King Training Institute, Inc [Member]
Currently issued and outstanding common stock	100.00%
Stock Issued During Period, Shares	2,500,000
Stock Issued During Period, Value	$ 250
Recapitalization of common stock	$ 15,400