Jubilant Flame International, Ltd.

JFIL: 10-Q · periodic report

Jubilant Flame International, Ltd filed its 10-Q for the quarter ended August 31, 2026 reporting zero revenue for both the quarter and six-month period, with a net loss of $15,277 for the quarter and $45,008 for the six months, versus $32,502 in the prior-year six months. The filing discloses substantial doubt about the company's ability to continue as a going concern: cash was just $1,660 against current liabilities of $1,470,765, a working capital deficit of $1,465,100, and an accumulated deficit of $3,954,131. Management said it needs additional financing and cannot assure it will succeed. Officer and principal financial officer concluded disclosure controls were not effective, and the company relies heavily on related-party funding — including $845,616 in unsecured, non-interest-bearing loans from CEO Yan Li and $535,500 of accrued, unpaid CEO compensation. A 1-for-100 reverse stock split became effective September 9, 2026, cutting shares outstanding from 19,985,708 to 199,867, a move typically tied to maintaining exchange/OTC quote compliance.

SEC 10-Q•10d ago

JFIL: 8-K · reverse split

Jubilant Flame International, Ltd approved a 1-for-100 reverse share split, with split-adjusted trading under ticker JFIL beginning September 9, 2026 and a 'D' appended to the symbol for the first 20 trading days. The board approved the split on August 20, 2026, and majority shareholders ratified it the same day by written consent. Shares outstanding will collapse from approximately 19.99 million to approximately 0.20 million, and no fractional shares will be issued — holders otherwise due a fraction will be rounded up to a full share. A 1:100 consolidation is an extreme ratio that typically signals a struggling micro-cap trying to defend its share price or listing compliance. The filing assigns a new CUSIP (48127W 205) and offers no stated rationale, leaving investors to read the move as a distress indicator.

SEC 8-K•1mo ago

JFIL: 10-Q · periodic report

Jubilant Flame International reported zero revenue for the three months ended May 31, 2026, resulting in a net loss of $29,731. The company continues to operate with minimal activity, holding just $1,715 in cash and cash equivalents against current liabilities of $1.46 million. Management disclosed substantial doubt about the company's ability to continue as a going concern due to a working capital deficit of approximately $1.45 million. The firm relies on advances from related parties to fund operations, though there is no formal written commitment for continued support. The company also revealed that its disclosure controls and procedures were not effective as of the end of the period. Principal Executive Officer Yan Li and Principal Financial Officer Lei Wang are currently examining changes to procedures to ensure more timely reporting.

SEC 10-Q•3mo ago

JFIL: 10-K · periodic report

Jubilant Flame International reported zero revenue for the fiscal year ended February 28, 2026, resulting in a net loss of $63,507. The company, which transitioned to providing technical support services for nutrition food products, remains in a pre-revenue stage and holds total assets of $16,190 against total liabilities of approximately $1.44 million. The independent auditor included an explanatory paragraph raising substantial doubt about the company's ability to continue as a going concern due to recurring losses and a significant working capital deficit. Management acknowledged that the company's survival is dependent on obtaining additional funding through related party loans or equity financing. Management disclosed that its internal controls over financial reporting and disclosure controls were ineffective as of the end of the fiscal year. Weaknesses cited include a lack of independent directors, no functioning audit committee, and inadequate segregation of duties due to the company's limited staffing.

SEC 10-K•5mo ago