$JFIL
Jubilant Flame International, Ltd

2023 Q2 Form 10-K Financial Statement

#000147793223003218 Filed on May 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2023
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 $23.84K $14.77K $61.55K
YoY Change 33.13% -7.22% -22.36%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $23.84K $14.77K $61.55K
YoY Change 33.11% -7.22% -22.36%
Operating Profit -$23.84K -$14.77K -$61.55K
YoY Change 33.11% -7.22% -5.04%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00 $0.00
YoY Change -100.0% -100.0%
Pretax Income -$23.84K -$14.77K -$61.55K
YoY Change -37.68%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$23.84K -$14.77K -$61.55K
YoY Change 33.11% -37.68% -5.04%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 19.99M shares 19.55M shares
Diluted Shares Outstanding 19.99M shares

Balance Sheet

Concept 2023 Q2 2023 Q1 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.580K $3.580K
YoY Change 0.0% 0.0%
Cash & Equivalents $2.502K $3.582K
Short-Term Investments
Other Short-Term Assets $10.67K $10.67K
YoY Change 1.62% 1.62%
Inventory
Prepaid Expenses $7.110K $10.67K
Receivables
Other Receivables
Total Short-Term Assets $9.612K $14.25K $14.25K
YoY Change -9.17% 1.17% 1.21%
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 $9.612K $14.25K $14.25K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $9.612K $14.25K $14.25K
YoY Change -9.17% 1.17% 1.21%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.58K $28.58K
YoY Change 308.29% 308.29%
Accrued Expenses $27.00K $28.58K $535.5K
YoY Change -94.96% -94.66% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $632.1K $632.1K
YoY Change 6.78% 6.78%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.263M $1.244M $1.244M
YoY Change 5.56% 5.22% 5.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.263M $1.244M $1.244M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $1.263M $1.244M $1.244M
YoY Change 5.56% 5.22% 5.22%
SHAREHOLDERS EQUITY
Retained Earnings -$3.742M -$3.719M
YoY Change 1.84% 1.68%
Common Stock $19.99K $19.99K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.253M -$1.230M -$1.230M
YoY Change
Total Liabilities & Shareholders Equity $9.612K $14.25K $14.25K
YoY Change -9.17% 1.17% 1.21%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2023
OPERATING ACTIVITIES
Net Income -$23.84K -$14.77K -$61.55K
YoY Change 33.11% -37.68% -5.04%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$21.87K -$18.01K -$40.13K
YoY Change 269.85% -18.54% 1.14%
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 $20.79K 18.01K $40.13K
YoY Change 251.58% 123.45% -1.69%
NET CHANGE
Cash From Operating Activities -$21.87K -18.01K -$40.13K
Cash From Investing Activities
Cash From Financing Activities $20.79K 18.01K $40.13K
Net Change In Cash -$1.080K 0.000 $0.00
YoY Change -100.0% -100.0%
FREE CASH FLOW
Cash From Operating Activities -$21.87K -$18.01K -$40.13K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023 dei Entity Central Index Key
EntityCentralIndexKey
0001517389
CY2023 dei Amendment Flag
AmendmentFlag
false
CY2023 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--02-28
CY2023 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2023 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000 shares
CY2022Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
19985708 shares
CY2023Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
19985708 shares
CY2023 dei Document Type
DocumentType
10-K
CY2023 dei Document Annual Report
DocumentAnnualReport
true
CY2022 jfil Earning Per Share Basic And Diluted
EarningPerShareBasicAndDiluted
-0.00
CY2023 dei Entity File Number
EntityFileNumber
333-173456
CY2023 jfil Weighted Average Number Of Shares Outstanding Basic And Diluted
WeightedAverageNumberOfSharesOutstandingBasicAndDiluted
19985708 shares
CY2023 dei Entity Registrant Name
EntityRegistrantName
JUBILANT FLAME INTERNATIONAL, LTD.
CY2023 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
CY2023 dei Entity Address Address Line1
EntityAddressAddressLine1
Room 508, T1N Vi Park
CY2023 dei Entity Address Address Line2
EntityAddressAddressLine2
360 Xin Long Road
CY2022 jfil Weighted Average Number Of Shares Outstanding Basic And Diluted
WeightedAverageNumberOfSharesOutstandingBasicAndDiluted
19549407 shares
CY2023 dei Document Period End Date
DocumentPeriodEndDate
2023-02-28
CY2023 dei Document Transition Report
DocumentTransitionReport
false
CY2022 us-gaap Other Income
OtherIncome
14463 usd
CY2023 us-gaap Other Operating Income
OtherOperatingIncome
0 usd
CY2023 dei Entity Address City Or Town
EntityAddressCityOrTown
Shanghai
CY2023 dei Entity Address Country
EntityAddressCountry
CN
CY2023 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
201101
CY2023 dei City Area Code
CityAreaCode
86 21
CY2023 dei Local Phone Number
LocalPhoneNumber
64748888
CY2023 dei Security12g Title
Security12gTitle
Common Stock, $0.001 par value
CY2023 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2023 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2023 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2023 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2023 dei Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
false
CY2023 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2023 dei Entity Small Business
EntitySmallBusiness
true
CY2023 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2023 dei Entity Shell Company
EntityShellCompany
false
CY2022Q3 dei Entity Public Float
EntityPublicFloat
287422 usd
CY2023Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
19985708 shares
CY2023 dei Auditor Firm
AuditorFirmId
2851
CY2023 dei Auditor Name
AuditorName
KCCW Accountancy Corp
CY2023 dei Auditor Location
AuditorLocation
Diamond Bar, California
CY2023Q1 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
47643 usd
CY2022Q1 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
47643 usd
CY2023Q1 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
632072 usd
CY2022Q1 us-gaap Due To Related Parties Current
DueToRelatedPartiesCurrent
591942 usd
CY2022Q1 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
0 usd
CY2023Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
19985708 shares
CY2022Q1 us-gaap Common Stock Value
CommonStockValue
19986 usd
CY2022Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
2469045 usd
CY2022Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-3657034 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-1168003 usd
CY2022Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
14082 usd
CY2022 jfil Sales Of Goods
SalesOfGoods
0 usd
CY2022 us-gaap Revenues
Revenues
0 usd
CY2023 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
61545 usd
CY2022 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
79274 usd
CY2023 us-gaap Other Income
OtherIncome
0 usd
CY2022 us-gaap Other Operating Income
OtherOperatingIncome
14463 usd
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-61545 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-64811 usd
CY2023 jfil Earning Per Share Basic And Diluted
EarningPerShareBasicAndDiluted
-0.00
CY2022 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
15750 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-64811 usd
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
-1168003 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-1229548 usd
CY2023 us-gaap Profit Loss
ProfitLoss
61545 usd
CY2022 us-gaap Profit Loss
ProfitLoss
64811 usd
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
0 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
15750 usd
CY2023 jfil Account Receivable Write Off
AccountReceivableWriteOff
0 usd
CY2022 jfil Account Receivable Write Off
AccountReceivableWriteOff
7384 usd
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
0 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2000 usd
CY2023 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
165 usd
CY2022 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
1500 usd
CY2023 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
21580 usd
CY2022 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
1500 usd
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-40130 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-39677 usd
CY2023 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
40130 usd
CY2022 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
40818 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
40130 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
40818 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
0 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
1141 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2441 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3582 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3582 usd
CY2022 jfil Net Tax Expense
NetTaxExpense
0 usd
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
8393 usd
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
8832 usd
CY2023Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
4532 usd
CY2023 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;"> </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><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">Management regularly reviews its estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such reviews, and if deemed appropriate, those estimates are adjusted accordingly. Actual results could differ from those estimates.</p>
CY2022Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
3938 usd
CY2023Q1 jfil Working Capital Deficit
WorkingCapitalDeficit
-1229548 usd
CY2023Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-3718579 usd
CY2023Q1 us-gaap Loans Payable Current
LoansPayableCurrent
632072 usd
CY2023Q1 us-gaap Related Party Transaction Due From To Related Party Current
RelatedPartyTransactionDueFromToRelatedPartyCurrent
47643 usd
CY2023Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
1092419 usd
CY2023 jfil Description Of Maturity Date For Income Tax
DescriptionOfMaturityDateForIncomeTax
future taxable income, if any, and which expire in various years through 2043
CY2023Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
1092419 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-12925 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-12770 usd
CY2023 us-gaap Reclassifications Of Temporary To Permanent Equity
ReclassificationsOfTemporaryToPermanentEquity
4532 usd
CY2022 us-gaap Reclassifications Of Temporary To Permanent Equity
ReclassificationsOfTemporaryToPermanentEquity
3938 usd
CY2023 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
8393 usd
CY2022 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
8832 usd
CY2023 jfil Net Tax Expense
NetTaxExpense
0 usd
CY2023Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
75000000 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001

Files In Submission

Name View Source Status
0001477932-23-003218-index-headers.html Edgar Link pending
0001477932-23-003218-index.html Edgar Link pending
0001477932-23-003218.txt Edgar Link pending
0001477932-23-003218-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
jfil-20230228.xsd Edgar Link pending
jfil_10k.htm Edgar Link pending
jfil_ex231.htm Edgar Link pending
jfil_ex231img1.jpg Edgar Link pending
jfil_ex311.htm Edgar Link pending
jfil_ex312.htm Edgar Link pending
jfil_ex321.htm Edgar Link pending
jfil_ex322.htm Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
jfil-20230228_cal.xml Edgar Link unprocessable
jfil-20230228_def.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
jfil-20230228_pre.xml Edgar Link unprocessable
jfil-20230228_lab.xml Edgar Link unprocessable
jfil_10k_htm.xml Edgar Link completed