$JFIL
Jubilant Flame International, Ltd

2024 Q1 Form 10-Q Financial Statement

#000147793224000086 Filed on January 09, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2022 Q4
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 $15.62K $14.95K $14.75K
YoY Change 5.75% 1.38% -36.56%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $15.62K $14.95K -$14.75K
YoY Change 5.75% -201.36% -163.45%
Operating Profit -$15.62K -$14.95K -$14.75K
YoY Change 5.75% 1.36% -36.55%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00 $0.00
YoY Change
Pretax Income -$15.62K -$14.95K -$14.75K
YoY Change 5.75% 1.38% -36.57%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$15.62K -$14.95K -$14.75K
YoY Change 5.75% 1.36% -36.55%
Net Earnings / Revenue
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 19.99M shares 19.99M shares
Diluted Shares Outstanding 19.99M shares 19.99M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.350K $2.500K $3.580K
YoY Change -62.29% -30.17% -79.69%
Cash & Equivalents $1.345K $2.502K $3.582K
Short-Term Investments
Other Short-Term Assets $11.25K $15.00K $0.00
YoY Change 5.44% -100.0%
Inventory
Prepaid Expenses $11.25K $15.00K $0.00
Receivables
Other Receivables
Total Short-Term Assets $12.60K $17.50K $3.582K
YoY Change -11.6% 388.61% -91.27%
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 $12.60K $17.50K $3.582K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $12.60K $17.50K $3.582K
YoY Change -11.6% 388.61% -91.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $21.15K
YoY Change 2.92%
Accrued Expenses $32.64K $25.08K $535.5K
YoY Change 14.21% -95.32% 0.0%
Deferred Revenue
YoY Change
Short-Term Debt $693.7K $690.6K $614.1K
YoY Change 9.76% 12.46% 5.17%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.310M $1.299M $1.218M
YoY Change 5.28% 6.6% 2.59%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.310M $1.299M $1.218M
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.310M $1.299M $1.218M
YoY Change 5.28% 6.6% 2.59%
SHAREHOLDERS EQUITY
Retained Earnings -$3.786M -$3.770M -$3.704M
YoY Change 1.81% 1.8% 1.94%
Common Stock $19.99K $19.99K $19.99K
YoY Change 0.0% 0.0% 2.24%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.297M -$1.281M -$1.215M
YoY Change
Total Liabilities & Shareholders Equity $12.60K $17.50K $3.582K
YoY Change -11.6% 388.61% -91.27%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2022 Q4
OPERATING ACTIVITIES
Net Income -$15.62K -$14.95K -$14.75K
YoY Change 5.75% 1.36% -36.55%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$4.320K -$18.28K -$12.60K
YoY Change -76.01% 45.08% -45.71%
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 3.160K 18.28K 12.60K
YoY Change -82.45% 45.08% -22.37%
NET CHANGE
Cash From Operating Activities -4.320K -18.28K -12.60K
Cash From Investing Activities
Cash From Financing Activities 3.160K 18.28K 12.60K
Net Change In Cash -1.160K 0.000 0.000
YoY Change -100.0%
FREE CASH FLOW
Cash From Operating Activities -$4.320K -$18.28K -$12.60K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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EntityCentralIndexKey
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dei Amendment Flag
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dei Current Fiscal Year End Date
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dei Document Type
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dei Document Quarterly Report
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dei Document Period End Date
DocumentPeriodEndDate
2023-11-30
dei Document Transition Report
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dei Entity File Number
EntityFileNumber
333-173456
dei Entity Registrant Name
EntityRegistrantName
Jubilant Flame International, LTD
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
NV
dei Entity Address Address Line1
EntityAddressAddressLine1
Room 508
dei Entity Address Address Line2
EntityAddressAddressLine2
T1N Vi Park
dei Entity Address Address Line3
EntityAddressAddressLine3
360 Xin Long Road
dei Entity Address City Or Town
EntityAddressCityOrTown
Shanghai
dei Entity Address Country
EntityAddressCountry
CN
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
201101
dei City Area Code
CityAreaCode
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dei Local Phone Number
LocalPhoneNumber
64748888
dei Entity Current Reporting Status
EntityCurrentReportingStatus
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dei Entity Filer Category
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jfil Earnings Per Shares Basic And Diluted
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jfil Earnings Per Shares Basic And Diluted
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CY2023Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Net Income Loss
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Increase Decrease In Prepaid Expense
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us-gaap Increase Decrease In Prepaid Expense
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Proceeds From Related Party Debt
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us-gaap Proceeds From Related Party Debt
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us-gaap Net Cash Provided By Used In Financing Activities
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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>
CY2023Q4 us-gaap Assets Current
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CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
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CY2023Q4 jfil Working Capital Deficit
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CY2023Q1 jfil Prepaid Expense
PrepaidExpense
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CY2023Q4 us-gaap Loans Payable Current
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CY2023Q1 jfil Due To Related Parties
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us-gaap Professional Fees
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jfil Accruedofficercompensation Textblock
AccruedofficercompensationTextblock
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"><strong>NOTE 6 – ACCRUED OFFICER COMPENSATION </strong></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;">On December 15, 2015, the Company entered into an employment agreement with its president, Ms. Yan Li. The agreement was retroactively effective as of December 4, 2015, for a term of 36 months (measured from December 4, 2015). Pursuant to the agreement, Ms. Yan Li shall receive an annual salary of $100,500 and 100,000 shares of the Company’s common stock.</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;">As of November 30, 2023, a total of $535,500 has been accrued as salary compensation payable compared to $535,500 at February 28, 2023. </p>
CY2023Q4 us-gaap Accrued Bonuses Current
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CY2023Q1 us-gaap Accrued Bonuses Current
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Files In Submission

Name View Source Status
jfil-20231130_pre.xml Edgar Link unprocessable
jfil-20231130_def.xml Edgar Link unprocessable
jfil-20231130_lab.xml Edgar Link unprocessable
0001477932-24-000086-index-headers.html Edgar Link pending
0001477932-24-000086-index.html Edgar Link pending
0001477932-24-000086.txt Edgar Link pending
0001477932-24-000086-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
jfil-20231130.xsd Edgar Link pending
jfil_10q.htm Edgar Link pending
jfil_ex311.htm Edgar Link pending
jfil_ex312.htm Edgar Link pending
jfil_ex321.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
jfil-20231130_cal.xml Edgar Link unprocessable
jfil_10q_htm.xml Edgar Link completed
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report.css Edgar Link pending
Show.js Edgar Link pending