$JFIL
Jubilant Flame International, Ltd

2022 Q3 Form 10-Q Financial Statement

#000147793222004933 Filed on July 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue $0.00 $0.00 $0.00
YoY Change
Gross Profit $0.00 $0.00 $0.00
YoY Change
Gross Profit Margin
Selling, General & Admin $14.10K $17.91K $15.92K
YoY Change -23.08% -16.81% -12.67%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses -$14.10K $17.91K $15.92K
YoY Change -176.94% -16.79% -12.67%
Operating Profit -$14.10K -$17.91K -$15.92K
YoY Change -23.07% -16.79% -12.67%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00 -$7.780K
YoY Change -100.0%
Pretax Income -$14.10K $0.00 -$23.70K
YoY Change -484.51% 30.01%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$14.10K -$17.91K -$23.70K
YoY Change -484.62% -16.79% 30.01%
Net Earnings / Revenue
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00 -$896.10 -$1.212K
COMMON SHARES
Basic Shares Outstanding 19.99M shares 19.55M shares
Diluted Shares Outstanding 19.99M shares 19.99M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.580K $3.580K $3.580K
YoY Change -85.45% 33.58% 46.72%
Cash & Equivalents $3.582K $3.582K $3.582K
Short-Term Investments
Other Short-Term Assets $3.500K $7.000K $10.50K
YoY Change 16.67% 16.67% 16.67%
Inventory
Prepaid Expenses $3.500K $7.000K $10.50K
Receivables $0.00
Other Receivables $0.00
Total Short-Term Assets $7.082K $10.58K $14.08K
YoY Change -80.86% -41.44% -32.38%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change
TOTAL ASSETS
Total Short-Term Assets $7.082K $10.58K $14.08K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $7.082K $10.58K $14.08K
YoY Change -80.86% -41.44% -32.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.50K $15.50K $7.000K
YoY Change 60.71% 121.43%
Accrued Expenses $535.5K $535.5K $535.5K
YoY Change 0.0% 0.0% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $601.5K $597.9K $591.9K
YoY Change 5.95% 6.02% 7.41%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.207M $1.196M $1.182M
YoY Change 3.63% 3.68% 3.71%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.207M $1.196M $1.182M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.207M $1.196M $1.182M
YoY Change 3.63% 3.68% 3.71%
SHAREHOLDERS EQUITY
Retained Earnings -$3.689M -$3.675M -$3.657M
YoY Change 2.19% 1.8%
Common Stock $19.99K $19.99K $19.99K
YoY Change 2.24% 2.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.200M -$1.186M -$1.168M
YoY Change
Total Liabilities & Shareholders Equity $7.082K $10.58K $14.08K
YoY Change -80.86% -41.44% -32.38%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$14.10K -$17.91K -$23.70K
YoY Change -484.62% -16.79% 30.01%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$3.610K -$5.913K -$22.11K
YoY Change -119.87% -52.8% 79.32%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.610K $5.913K 8.060K
YoY Change -3.99% -53.7% 9.66%
NET CHANGE
Cash From Operating Activities -3.610K -$5.913K -22.11K
Cash From Investing Activities
Cash From Financing Activities 3.610K $5.913K 8.060K
Net Change In Cash 0.000 $0.00 -14.05K
YoY Change -100.0% -100.0% 182.13%
FREE CASH FLOW
Cash From Operating Activities -$3.610K -$5.913K -$22.11K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2022Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
19985708 shares
CY2022Q2 us-gaap Cash
Cash
3582 USD
CY2022Q1 us-gaap Cash
Cash
3582 USD
CY2022Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
7000 USD
CY2022Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
10500 USD
CY2022Q2 us-gaap Assets Current
AssetsCurrent
10582 USD
CY2022Q1 us-gaap Assets Current
AssetsCurrent
14082 USD
CY2022Q2 us-gaap Assets
Assets
10582 USD
CY2022Q1 us-gaap Assets
Assets
14082 USD
CY2022Q2 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
15500 USD
CY2022Q1 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
7000 USD
CY2022Q2 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
47643 USD
CY2022Q1 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
47643 USD
CY2022Q1 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
535500 USD
CY2022Q2 us-gaap Loans Payable Current
LoansPayableCurrent
597855 USD
CY2022Q1 us-gaap Loans Payable Current
LoansPayableCurrent
591942 USD
CY2022Q2 us-gaap Liabilities Current
LiabilitiesCurrent
1196498 USD
CY2022Q1 us-gaap Liabilities Current
LiabilitiesCurrent
1182085 USD
CY2022Q2 us-gaap Liabilities
Liabilities
1196498 USD
CY2022Q1 us-gaap Liabilities
Liabilities
1182085 USD
CY2022Q2 us-gaap Common Stock Value
CommonStockValue
19986 USD
CY2022Q1 us-gaap Common Stock Value
CommonStockValue
19986 USD
CY2022Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
2469045 USD
CY2022Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
2469045 USD
CY2022Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-3674947 USD
CY2022Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-3657034 USD
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-1185916 USD
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-1168003 USD
CY2022Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
10582 USD
CY2022Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
14082 USD
CY2022Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
0 USD
CY2021Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
0 USD
CY2022Q2 us-gaap Revenues
Revenues
0 USD
CY2021Q2 us-gaap Revenues
Revenues
0 USD
CY2022Q2 us-gaap Cost Of Revenue
CostOfRevenue
0 USD
CY2021Q2 us-gaap Cost Of Revenue
CostOfRevenue
0 USD
CY2022Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
17913 USD
CY2021Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
21528 USD
CY2022Q2 us-gaap Operating Expenses
OperatingExpenses
17913 USD
CY2021Q2 us-gaap Operating Expenses
OperatingExpenses
21528 USD
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-17913 USD
CY2021Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-21528 USD
CY2022Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 USD
CY2021Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 USD
CY2022Q2 us-gaap Discontinued Operation Provision For Loss Gain On Disposal Before Income Tax
DiscontinuedOperationProvisionForLossGainOnDisposalBeforeIncomeTax
17913 USD
CY2021Q2 us-gaap Discontinued Operation Provision For Loss Gain On Disposal Before Income Tax
DiscontinuedOperationProvisionForLossGainOnDisposalBeforeIncomeTax
21528 USD
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
0 USD
CY2021Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
0 USD
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-17913 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-21528 USD
CY2022Q2 jfil Earnings Per Share Basic And Diluted1
EarningsPerShareBasicAndDiluted1
-0.00
CY2021Q2 jfil Earnings Per Share Basic And Diluted1
EarningsPerShareBasicAndDiluted1
-0.00
CY2022Q2 jfil Weighted Average Number Of Diluted Shares Outstanding1
WeightedAverageNumberOfDilutedSharesOutstanding1
19985708 shares
CY2021Q2 jfil Weighted Average Number Of Diluted Shares Outstanding1
WeightedAverageNumberOfDilutedSharesOutstanding1
19548208 shares
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-1168003 USD
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-17913 USD
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-1185916 USD
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
-1118942 USD
CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
4500 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-21528 USD
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
-1135970 USD
CY2022Q2 us-gaap Share Based Compensation
ShareBasedCompensation
0 USD
CY2021Q2 us-gaap Share Based Compensation
ShareBasedCompensation
4500 USD
CY2022Q2 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-3500 USD
CY2021Q2 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-3000 USD
CY2022Q2 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
8500 USD
CY2021Q2 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1500 USD
CY2022Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-5913 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-12528 USD
CY2022Q2 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
5913 USD
CY2021Q2 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
12771 USD
CY2022Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5913 USD
CY2021Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
12771 USD
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
0 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
243 USD
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3582 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2441 USD
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3582 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2684 USD
CY2022Q2 us-gaap Interest Paid
InterestPaid
0 USD
CY2021Q2 us-gaap Interest Paid
InterestPaid
0 USD
CY2022Q2 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2021Q2 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2022Q2 us-gaap Use Of Estimates
UseOfEstimates
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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 financial statements and the reported amounts of revenues and expenses during the reporting period. Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company’s significant estimates include income tax provisions and valuation allowances of deferred tax assets; the fair value of financial instruments and the assumption that the company will continue as a going concern. Those significant accounting estimates or assumptions bear the risk of change due to the fact that there are uncertainties attached to those estimates or assumptions, and certain estimates or assumptions are difficult to measure or value.</p>
CY2022Q2 us-gaap Assets Current
AssetsCurrent
10582 USD
CY2022Q2 us-gaap Liabilities Current
LiabilitiesCurrent
1196498 USD
CY2022Q2 jfil Working Capital Deficit
WorkingCapitalDeficit
-1185916 USD
CY2022Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
10500 USD
CY2022Q2 us-gaap Loans Payable Current
LoansPayableCurrent
597855 USD
CY2022Q2 us-gaap Professional Fees
ProfessionalFees
19000 USD
CY2022Q2 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
47643 USD
CY2022Q2 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
535500 USD
CY2022Q1 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
535500 USD

Files In Submission

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0001477932-22-004933-index-headers.html Edgar Link pending
0001477932-22-004933-index.html Edgar Link pending
0001477932-22-004933.txt Edgar Link pending
0001477932-22-004933-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
jfil-20220531.xsd Edgar Link pending
jfil-20220531_cal.xml Edgar Link unprocessable
jfil-20220531_def.xml Edgar Link unprocessable
jfil-20220531_lab.xml Edgar Link unprocessable
jfil-20220531_pre.xml Edgar Link unprocessable
jfil_10q.htm Edgar Link pending
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jfil_ex311.htm Edgar Link pending
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