Form 10-Q - Quarterly report [Sections 13 or 15(d)]

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 10-Q

☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended August 31, 2023

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number 333-173456

Jubilant Flame International, LTD

(Exact name of registrant as specified in its charter)

Nevada

(State or other jurisdiction of incorporation or organization)

Room 508, T1N Vi Park,360 Xin Long Road, Shanghai China, 201101

(Address of principal executive offices, including zip code.)

+ 86 21 64748888

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ NO ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a small reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “small reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☒
Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒

As of October 2, 2023, there are 19,985,708 shares of common stock outstanding.

All references in this Report on Form 10-Q to the terms “we”, “our”, “us”, the “Company” and the “Registrant” refer to Jubilant Flame International Ltd unless the context indicates another meaning.

JUBILANT FLAME INTERNATIONAL LTD

TABLE OF CONTENTS

		Page
PART I – FINANCIAL INFORMATION

Item 1.	Financial Statements	F-1
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	3
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	5
Item 4.	Controls and Procedures	5

PART II – OTHER INFORMATION

Item 1.	Legal Proceedings	6
Item 1A.	Risk Factors	6
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	6
Item 3.	Defaults Upon Senior Securities	6
Item 4.	Mine Safety Disclosures	6
Item 5.	Other Information	6
Item 6.	Exhibits	7
SIGNATURES		8

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PART I – FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

JUBILANT FLAME INTERNATIONAL, LTD.

FOR THE SIX-MONTH PERIODS ENDED AUGUST 31, 2023

Index to Unaudited Financial Statements

Contents		Page
Balance Sheets August 31, 2023 and February 28, 2023 (Unaudited)		F-2
Statements of Operations for the Three and Six-Month Periods Ended August 31, 2023 and 2022 (Unaudited)		F-3
Statements of Changes in Stockholders’ Deficit for the Three and Six-Month Periods Ended August 31, 2023 and 2022 (Unaudited)		F-4
Statements of Cash Flows for the Six-Month Periods Ended August 31, 2023 and 2022 (Unaudited)		F-5
Notes to the Financial Statements (Unaudited)		F-6

F-1

Table of Contents

JUBILANT FLAME INTERNATIONAL, LTD

BALANCE SHEETS

(UNAUDITED)

	August 31,			February 28,
	2023			2023
ASSETS

Current assets
Cash and cash equivalents	$	2,502		$	3,582
Prepaid expenses		3,555			10,655
Total current assets		6,057			14,247
Total Assets	$	6,057		$	14,247

LIABILITIES & STOCKHOLDERS’ DEFICIT

Current liabilities
Accounts payable – related parties	$	47,643		$	47,643
Accrued expense		16,970			28,580
Accrued officer compensation		535,500			535,500
Loan payable - related parties		672,279			632,072
Total current liabilities		1,272,392			1,243,795
Total Liabilities		1,272,392			1,243,795

Commitment and Contingencies

Stockholders’ Deficit
Common stock, $0.001 par value per share 75,000,000 shares authorized; 19,985,708 and 19,985,708 shares issued and outstanding, respectively		19,986			19,986
Additional paid in capital		2,469,045			2,469,045
Accumulated deficit		(3,755,366	)		(3,718,579	)
Total Stockholders’ Deficit		(1,266,335	)		(1,229,548	)
Total Liabilities and Stockholders’ Deficit	$	6,057		$	14,247

The accompanying notes are an integral part of these financial statements.

F-2

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JUBILANT FLAME INTERNATIONAL, LTD

STATEMENTS OF OPERATIONS

(UNAUDITED)

	For the three months ended						For the six months ended
	August 31,						August 31,
	2023			2022			2023			2022

Revenue	$	-		$	-		$	-		$	-

Costs and Operating Expenses:
Cost of goods sold		-			-			-			-
Operating, selling, general and administrative		12,943			14,104			36,787			32,017
Total operating expenses		(12,943	)		(14,104	)		(36,787	)		(32,017	)

Loss from operations		(12,943	)		(14,104	)		(36,787	)		(32,017	)
Other income(expense):
Other Income(expense),net		-			-			-			-
Loss before provision for income taxes		(12,943	)		(14,104	)		(36,787	)		(32,017	)
Provision for income tax		-			-			-			-
Net loss	$	(12,943	)	$	(14,104	)	$	(36,787	)	$	(32,017	)
Net loss per share (basic and diluted)	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)
Weighted average number of common shares outstanding		19,985,708			19,985,708			19,985,708			19,985,708

The accompanying notes are an integral part of these financial statements

F-3

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JUBILANT FLAME INTERNATIONAL, LTD

STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT

(UNAUDITED)

For the Three Months ended August 31, 2023 and 2022
					Additional					Total
	Common Stock				paid in			Accumulated		Stockholders’
	Shares		Amount		Capital			deficit		Deficit
Balance at May 31, 2023		19,985,708	$	19,986	$	2,469,045	$	(3,742,423	)	$	(1,253,392	)
Net loss								(12,943	)		(12,943	)
Balance at August 31, 2023		19,985,708	$	19,986	$	2,469,045	$	(3,755,366	)	$	(1,266,335	)

					Additional					Total
	Common Stock				paid in			Accumulated		Stockholders’
	Shares		Amount		Capital			deficit		Deficit
Balance at May 31, 2022		19,985,708	$	19,986	$	2,469,045	$	(3,674,948	)	$	(1,185,917	)
Net loss								(14,104	)		(14,104	)
Balance at August 31, 2022		19,985,708	$	19,986	$	2,469,045	$	(3,689,052	)	$	(1,200,021	)

For the Six Months ended August 31, 2023 and 2022
					Additional					Total
	Common Stock				paid in			Accumulated		Stockholders’
	Shares		Amount		Capital			deficit		Deficit
Balance at February 28, 2023		19,985,708	$	19,986	$	2,469,045	$	(3,718,579	)	$	(1,229,548	)
Net loss								(36,787	)		(36,787	)
Balance at August 31, 2023		19,985,708	$	19,986	$	2,469,045	$	(3,755,366	)	$	(1,266,335	)

					Additional					Total
	Common Stock				paid in			Accumulated		Stockholders’
	Shares		Amount		Capital			deficit		Deficit
Balance at February 28, 2022		19,985,708	$	19,986	$	2,469,045	$	(3,657,035	)	$	(1,168,004	)
Net loss								(32,017	)		(32,017	)
Balance at August 31, 2022		19,985,708	$	19,986	$	2,469,045	$	(3,689,052	)	$	(1,200,021	)

The accompanying notes are an integral part of these financial statements

F-4

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JUBILANT FLAME INTERNATIONAL, LTD

STATEMENTS OF CASH FLOWS

(UNAUDITED)

	For the six months ended August 31,
	2023			2022
Cash Flows from Operating Activities:
Net loss	$	(36,787	)	$	(32,017	)
Adjustments to reconcile net loss to net cash used in operating activities
Changes in current assets and liabilities:
Prepaid expense		7,110			7,000
Accrued expense		(11,610	)		15,500
Net cash used in operating activities		(41,287	)		(9,517	)
Cash Flows from Financing Activities:
Net proceeds from related party loans		40,207			9,517
Net cash provided by financing activities		40,207			9,517
Net decrease in cash and cash equivalents		(1,080	)		-
Cash and cash equivalents, beginning of period		3,582			3,582
Cash and cash equivalents, end of period	$	2,502		$	3,582
Supplemental Disclosure
Cash paid for interest	$	-		$	-
Cash paid for income tax	$	-		$	-

The accompanying notes are an integral part of these financial statements

F-5

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JUBILANT FLAME INTERNATIONAL, LTD

NOTES TO FINANCIAL STATEMENTS

(UNAUDITED)

NOTE 1 – ORGANIZATION AND OPERATIONS

Jubilant Flame International, Ltd. (the “Company”) was formed on September 29, 2009 under the name Liberty Vision, Inc. The Company provided web development and marketing services for clients. On August 18, 2015, the Company changed its name to Jubilant Flame International, Ltd.

From the fourth quarter of the fiscal year ended February 28, 2018, the Company started to market and sell cosmetics products imported from Asia -Acropass Series products – in the United States market. The Company purchased the inventory from a related party company in China. The Company contracted with a third party to operate the online shopping platform and marketing campaign in the United States until January 2020 when it ceased this business.

From the third quarter of the year ended February 29, 2020, the Company began its new business line of providing technical support services for the development of new nutrition food products to sell to customers in the USA. The Company had not generated significant revenue from this new business.

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Interim Financial Information

Interim financial statements included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) as promulgated in Item 210 of Regulation S-X. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) have been condensed or omitted pursuant to such SEC rules and regulations. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of financial position as of August 31, 2023, results of operations, changes in stockholders’ equity (deficit) and cash flows for the six-month periods ended August 31, 2023 and 2022, as applicable, have been made. The results for these interim periods are not necessarily indicative of the results for the entire year. The accompanying financial statements should be read in conjunction with the financial statements and the notes thereto included in the Company’s Form 10-K.

Use of Estimates and Assumptions

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.

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.

Net Loss Per Common Share

Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period.

Since the Company has incurred losses for all periods, the impact of the common stock equivalents would be anti- dilutive and therefore are not included in the calculation.

F-6

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NOTE 3 – GOING CONCERN

The financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. As of August 31, 2023 the Company had current assets of $6,057, and current liabilities total $1,272,392 resulting in a working capital deficit of $1,266,335. The Company currently only has small scale operation activities and has an accumulated deficit of $3,755,366 as of August 31, 2023. This raises substantial doubt about the Company’s ability to continue as a going concern.

The Company may raise additional capital through the sale of its equity securities, through an offering of debt securities, or through borrowings from financial institutions or related parties. By doing so, the Company hopes to generate sufficient capital to execute its business plan in the nutrition product technology support sector on an ongoing basis. Management believes that actions presently being taken to obtain additional funding provide the opportunity for the Company to continue as a going concern. There is no guarantee the Company will be successful in achieving these objectives. These financial statements do not include any adjustments related to the recoverability and classification of recorded assets or the amounts and classification of liabilities or any other adjustments that might be necessary should the Company be unable to continue as a going concern.

NOTE 4 – PREPAID EXPENSE

The Company is paying an annual fee for its OTC Markets service. The service period is from December 1, 2022 to November 30, 2023. The service charge is recorded as a prepaid expense and amortized using straight line amortization over the service period. The prepaid expense balance is $3,555 as of August 31, 2023 compared to $10,665 as of February 28, 2023.

NOTE 5 – RELATED PARTY TRANSACTIONS

In support of the Company’s efforts and cash requirements, it must rely on advances from related parties until such time that the Company can support its operations or attains adequate financing through sales of its common stock or traditional debt financing. There is no formal written commitment for continued support by shareholders. The advances are considered temporary in nature and have not been formalized by a promissory note.

As of August 31, 2023, the Company had a $672,279 loan outstanding with its CEO, Ms. Yan Li. This compares with the outstanding balance of $632,072 for Ms. Yan Li at February 28, 2023. The loans are non-interest bearing, due upon demand and unsecured.

A related party is providing accounting service to the Company at an estimated annual service fee of $19,000.

From November 2017, the Company started to purchase cosmetic products from a related party controlled by our CEO. The Company purchased a total of $47,643 of inventory from two related parties which was sold during the year ended February 29, 2020, the accounts payable balance of which is outstanding as of August 31, 2023 and February 28, 2023.

NOTE 6 – ACCRUED OFFICER COMPENSATION

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.

As of August 31, 2023, a total of $535,500 has been accrued as salary compensation payable compared to $535,500 at February 28, 2023.

NOTE 7 – SUBSEQUENT EVENTS

In accordance with ASC 855-10 “Subsequent Events”, the Company has analyzed its operations subsequent to August 31, 2023, through the date which the financial statements were available to be issued. Management of the Company determined that there were no reportable events that occurred during that subsequent period to be disclosed or recorded.

F-7

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion should be read in conjunction with the financial statements and the notes to those statements included elsewhere in this Quarterly Report on Form 10-Q. This Quarterly Report on Form 10-Q contains certain statements that are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. Certain statements contained in the MD&A are forward-looking statements that involve risks and uncertainties. The forward-looking statements are not historical facts, but rather are based on current expectations, estimates, assumptions and projections about our industry, business and future financial results. Our actual results could differ materially from the results contemplated by these forward-looking statements due to a number of factors, including those discussed in other sections of this Quarterly Report on Form 10-Q.

Our Business

Jubilant Flame International, Ltd., (the “Company”, “the “Registrant”, “we”, “us” or “our”) was formed on September 29, 2009 under the name Liberty Vision, Inc. The Company provided web development and marketing services for clients. On December 5, 2012, the Company disposed of its subsidiary corporation to a shareholder for a nominal sum, as well as other management operations. On December 16, 2012, the Company changed its name to Jiu Feng Investment Hong Kong, Inc. On January 27, 2013, the Company announced the change of its ticker symbol from “LBYV” to “JFIL.” On July 24, 2013, the Company changed its business sector to the medical sector. On August 18, 2015 the Company changed its name to Jubilant Flame International, Ltd.

From the third quarter of the year ended February 29, 2020, the Company began providing technical support services for development of new nutrition food products to sell to customers in USA. No significant revenue has been generated from this new business line.

Results of Operations

Revenue

We recognized no sales revenue in the three and six months ended August 31, 2023 compared to nil sales revenue in the three and six months ended August 31, 2022.

Operating Expenses

For the three months ended August 31, 2023 compared to the three months ended August 31, 2022

The major components of our operating expenses for the three months ended August 31, 2023 and 2022 are outlined in the table below:

	Three Months Ended		Three Months Ended
	Aug 31		Aug 31
	2023		2022

Professional fee	$	9,388	$	10,604
OTC service expense and others		3,555		3,500
Total operating expenses	$	12,943	$	14,104

The $1,161 decrease in our operating costs for the three months ended August 31, 2023 compared to three months ended August 31, 2022, was mainly due to a decrease of $1,216 in professional fee.

For the six months ended August 31, 2023 compared to the six months ended August 31, 2022

The major components of our operating expenses for the six months ended August 31, 2023 and 2022 are outlined in the table below:

	Six Months Ended		Six Months Ended
	Aug 31		Aug 31
	2023		2022
Professional fee	$	29,677	$	25,017
OTC Filing fees		7,110		7,000
Total operating expenses	$	36,787	$	32,017

The $4,770 increase in our operating costs for the six months ended August 31, 2023 compared to six months ended August 31, 2022, was mainly due to the increase in audit fee of $5,000 due to auditor change.

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Other Expenses

No other expenses incurred during the three months and six months periods ended August 31, 2023 and 2022.

Net loss

For the three months ended August 31, 2023, we recognized a net loss of $12,943 compared to the net loss of $14,104 for the corresponding period in 2022.

For the six months ended August 31, 2023, we recognized a net loss of $36,787 compared to the net loss of $32,017 for the corresponding period in 2022.

Liquidity and Capital Resources

Working Capital

	August 31,			February 28,
	2023			2023
Current Assets	$	6,057		$	14,247
Current Liabilities	$	1,272,392		$	1,243,795
Working Capital Deficit	$	(1,266,335	)	$	(1,229,548	)

As of August 31, 2023, the Company had current assets of $6,057, primarily comprising of cash of $2,502, prepaid expenses of $3,555 and current liabilities of $1,272,392, resulting in a working capital deficit of $1,266,335. The Company had limited profitable operation activities and has an accumulated deficit of $3,755,366 as of August 31, 2023. This raises substantial doubt about the Company’s ability to continue as a going concern.

Based on the Company’s current operating plan, the Company does not have sufficient cash and cash equivalents to fund its operations for at least the next twelve months. The Company will need to obtain additional financing to operate our business. The Company may raise additional capital through the sale of its equity securities, through an offering of debt securities, or through borrowings from financial institutions or related parties. By doing so, the Company hopes to generate sufficient capital to execute its business plan in the nutrition product technology support sector on an ongoing basis. Management believes that actions presently being taken to obtain additional funding provide the opportunity for the Company to continue as a going concern. There is no guarantee the Company will be successful in achieving these objectives.

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Cash Flows from Operating Activities

Our net cash used in operating activities increased by $31,770 in the six months ended August 31, 2023 of $41,287 compared to the net cash provided in operating activities in the six months ended August 31, 2022 of $9,517. The increase in net cash used in operating activities was primarily the result of a $27,110 decrease in accrued professional fee.

Cash Flows from Investing Activities

We did not generate or use any cash from investing activities during the six months ended August 31, 2023 or 2022.

Cash Flows from Financing Activities

Our cash provided by financing activities increased from $9,517 for the six months ended August 31, 2022 compared to $40,207 for the six months ended August 31, 2023. In both periods, cash was provided by the way of loans from related parties.

Future Financing

We anticipate that additional funding will be required in the form of equity financing from the sale of our common stock, through an offering of debt securities, or through borrowings from financial institutions or related parties. However, we cannot provide investors with any assurance that we will be able to raise sufficient funding from the sale of our common stock or through a loan from our directors to meet our obligations over the next twelve months.

Off Balance Sheet Arrangements

As of August 31, 2023, we did not have any off-balance-sheet arrangements, as defined in Item 303(a)(4)(ii) of Regulation S-K.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

We are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information required under this item.

ITEM 4. CONTROLS AND PROCEDURES.

Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of our management, including our principal executive officer and principal financial officer, we have conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities and Exchange Act of 1934, as of the end of the period covered by this report. Based on this evaluation, our principal executive officer and principal financial officer concluded as of the evaluation date that our disclosure controls and procedures were not effective. We are presently examining changes to our procedures and policies to ensure a more timing reporting.

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PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

We were not subject to any legal proceedings during the six months ended August 31, 2023, and currently we are not involved in any pending litigation or legal proceedings.

ITEM 1A. RISK FACTORS.

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

None.

ITEM 4. MINE SAFETY DISCLOSURES.

Not applicable.

ITEM 5. OTHER INFORMATION.

Not applicable.

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ITEM 6. EXHIBITS

The following documents are filed as a part of this report:

EXHIBIT NUMBER		DESCRIPTION
31.1		Certification of the President and Chief Executive Officer pursuant to Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2		Certification of the Chief Financial Officer pursuant to Rules 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1		Certification of the President and Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2		Certification of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101.INS **		Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document).
101.SCH **		Inline XBRL Taxonomy Extension Schema Document.
101.CAL **		Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF **		Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB **		Inline XBRL Taxonomy Extension Labels Linkbase Document.
101.PRE **		Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104**		Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).

________

** XBRL (Extensible Business Reporting Language) information is furnished and not filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	JUBILANT FLAME INTERNATIONAL LTD

Date: October 2, 2023	By:	/s/ Yan Li
		Yan Li
		President, Chief Executive Officer (Principal Executive Officer) and Director

Date: October 2, 2023	By:	/s/ Lei Wang
		Lei Wang
		(Chief Financial Officer) and Director

nullnullnullnull

Cover - shares	6 Months Ended
Cover - shares	Aug. 31, 2023	Oct. 02, 2023
Cover [Abstract]
Entity Registrant Name	Jubilant Flame International, LTD
Entity Central Index Key	0001517389
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--02-28
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Aug. 31, 2023
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Entity Common Stock Shares Outstanding		19,985,708
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	333-173456
Entity Incorporation State Country Code	NV
Entity Address Address Line 1	Room 508
Entity Address Address Line 2	T1N Vi Park
Entity Address City Or Town	Shanghai
Entity Address Country	CN
Entity Address Postal Zip Code	201101
City Area Code	86 21
Local Phone Number	64748888
Entity Address Address Line 3	360 Xin Long Road

BALANCE SHEETS - USD ($)	Aug. 31, 2023	Feb. 28, 2023
Current assets
Cash and cash equivalents	$ 2,502	$ 3,582
Prepaid expenses	3,555	10,655
Total current assets	6,057	14,247
Total Assets	6,057	14,247
Current liabilities
Accounts payable - related parties	47,643	47,643
Accrued expense	16,970	28,580
Accrued officer compensation	535,500	535,500
Loan payable - related parties	672,279	632,072
Total current liabilities	1,272,392	1,243,795
Total Liabilities	1,272,392	1,243,795
Stockholders' Deficit
Common stock, $0.001 par value per share 75,000,000 shares authorized; 19,985,708 and 19,985,708 shares issued and outstanding, respectively	19,986	19,986
Additional paid in capital	2,469,045	2,469,045
Accumulated deficit	(3,755,366)	(3,718,579)
Total Stockholders' Deficit	(1,266,335)	(1,229,548)
Total Liabilities and Stockholders' Deficit	$ 6,057	$ 14,247

BALANCE SHEETS (Parenthetical) - $ / shares	Aug. 31, 2023	Feb. 28, 2023
BALANCE SHEETS
Common stock, shares par value	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	19,985,708	19,985,708
Common stock, shares outstanding	19,985,708	19,985,708

STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended		6 Months Ended
STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	Aug. 31, 2023	Aug. 31, 2022	Aug. 31, 2023	Aug. 31, 2022
STATEMENTS OF OPERATIONS (UNAUDITED)
Revenue	$ 0	$ 0	$ 0	$ 0
Costs and Operating Expenses:
Cost of goods sold	0	0	0	0
Operating, selling, general and administrative	12,943	14,104	36,787	32,017
Total operating expenses	(12,943)	(14,104)	(36,787)	(32,017)
Loss from operations	(12,943)	(14,104)	(36,787)	(32,017)
Other income(expense):
Other Income(expense),net	0	0	0	0
Loss before provision for income taxes	(12,943)	(14,104)	(36,787)	(32,017)
Provision for income tax	0	0	0	0
Net loss	$ (12,943)	$ (14,104)	$ (36,787)	$ (32,017)
Net loss per share (basic and diluted)	$ (0.00)	$ (0.00)	$ (0.00)	$ (0.00)
Weighted average number of common shares outstanding	19,985,708	19,985,708	19,985,708	19,985,708

STATEMENTS OF CHANGES IN STOCKHOLDERS DEFICIT (UNAUDITED) - USD ($)	Total	Common Stock	Additional Paid In Capital	Retained Earnings
Balance, shares at Feb. 28, 2022		19,985,708
Balance, amount at Feb. 28, 2022	$ (1,168,004)	$ 19,986	$ 2,469,045	$ (3,657,035)
Net Income (Loss)	(32,017)			(32,017)
Balance, shares at Aug. 31, 2022		19,985,708
Balance, amount at Aug. 31, 2022	(1,200,021)	$ 19,986	2,469,045	(3,689,052)
Balance, shares at May. 31, 2022		19,985,708
Balance, amount at May. 31, 2022	(1,185,917)	$ 19,986	2,469,045	(3,674,948)
Net Income (Loss)	(14,104)			(14,104)
Balance, shares at Aug. 31, 2022		19,985,708
Balance, amount at Aug. 31, 2022	(1,200,021)	$ 19,986	2,469,045	(3,689,052)
Balance, shares at Feb. 28, 2023		19,985,708
Balance, amount at Feb. 28, 2023	(1,229,548)	$ 19,986	2,469,045	(3,718,579)
Net Income (Loss)	(36,787)			(36,787)
Balance, shares at Aug. 31, 2023		19,985,708
Balance, amount at Aug. 31, 2023	(1,266,335)	$ 19,986	2,469,045	(3,755,366)
Balance, shares at May. 31, 2023		19,985,708
Balance, amount at May. 31, 2023	(1,253,392)	$ 19,986	2,469,045	(3,742,423)
Net Income (Loss)	(12,943)			(12,943)
Balance, shares at Aug. 31, 2023		19,985,708
Balance, amount at Aug. 31, 2023	$ (1,266,335)	$ 19,986	$ 2,469,045	$ (3,755,366)

STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	6 Months Ended
STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	Aug. 31, 2023	Aug. 31, 2022
Cash Flows from Operating Activities:
Net loss	$ (36,787)	$ (32,017)
Changes in current assets and liabilities:
Prepaid expense	7,110	7,000
Accrued expense	(11,610)	15,500
Net cash used in operating activities	(41,287)	(9,517)
Cash Flows from Financing Activities:
Net proceeds from related party loans	40,207	9,517
Net cash provided by financing activities	40,207	9,517
Net decrease in cashand cash equivalents	(1,080)	0
Cash and cash equivalents, beginning of period	3,582	3,582
Cash and cash equivalents, end of period	2,502	3,582
Supplemental Disclosure
Cash paid for interest	0	0
Cash paid for income tax	$ 0	$ 0

ORGANIZATION AND OPERATIONS

6 Months Ended

Aug. 31, 2023

ORGANIZATION AND OPERATIONS

ORGANIZATION AND OPERATIONS

NOTE 1 – ORGANIZATION AND OPERATIONS

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Aug. 31, 2023

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Interim Financial Information

Use of Estimates and Assumptions

Net Loss Per Common Share

Since the Company has incurred losses for all periods, the impact of the common stock equivalents would be anti- dilutive and therefore are not included in the calculation.

GOING CONCERN

6 Months Ended

Aug. 31, 2023

GOING CONCERN

GOING CONCERN

NOTE 3 – GOING CONCERN

PREPAID EXPENSE

6 Months Ended

Aug. 31, 2023

PREPAID EXPENSE

PREPAID EXPENSE

NOTE 4 – PREPAID EXPENSE

RELATED PARTY TRANSACTIONS

6 Months Ended

Aug. 31, 2023

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

NOTE 5 – RELATED PARTY TRANSACTIONS

A related party is providing accounting service to the Company at an estimated annual service fee of $19,000.

ACCRUED OFFICER COMPENSATION

6 Months Ended

Aug. 31, 2023

ACCRUED OFFICER COMPENSATION

ACCRUED OFFICER COMPENSATION

NOTE 6 – ACCRUED OFFICER COMPENSATION

As of August 31, 2023, a total of $535,500 has been accrued as salary compensation payable compared to $535,500 at February 28, 2023.

SUBSEQUENT EVENTS

6 Months Ended

Aug. 31, 2023

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

NOTE 7 – SUBSEQUENT EVENTS

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Aug. 31, 2023
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	The Company’s financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Interim Financial Information	Interim financial statements included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) as promulgated in Item 210 of Regulation S-X. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) have been condensed or omitted pursuant to such SEC rules and regulations. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of financial position as of August 31, 2023, results of operations, changes in stockholders’ equity (deficit) and cash flows for the six-month periods ended August 31, 2023 and 2022, as applicable, have been made. The results for these interim periods are not necessarily indicative of the results for the entire year. The accompanying financial statements should be read in conjunction with the financial statements and the notes thereto included in the Company’s Form 10-K.
Use of Estimates and Assumptions	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. 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.
Net Loss Per Common Share	Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period. Since the Company has incurred losses for all periods, the impact of the common stock equivalents would be anti- dilutive and therefore are not included in the calculation.

GOING CONCERN (Details Narrative) - USD ($)	Aug. 31, 2023	Feb. 28, 2023
GOING CONCERN
Current assets	$ 6,057	$ 14,247
Current liablities	1,272,392	$ 1,243,795
Working capital deficit	1,266,335
Accumulated deficit	$ 3,755,366

PREPAID EXPENSE (Details Narrative) - USD ($)	Aug. 31, 2023	Feb. 28, 2023
PREPAID EXPENSE
Prepaid Expense	$ 3,555	$ 10,665

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	6 Months Ended
	Aug. 31, 2023	Feb. 28, 2023	Feb. 29, 2020
Annual service fee	$ 19,000
Loan payable - related party	$ 672,279	$ 632,072
Due to related party		$ 632,072
November 2017 [Member]
Due to related party			$ 47,643

ACCRUED OFFICER COMPENSATION AND STOCK COMPENSATION (Details Narrative) - USD ($)	6 Months Ended
	Aug. 31, 2023	Feb. 28, 2023
Accrued Officer Compensation	$ 535,500	$ 535,500
December 4, 2015 [Member] \| Employment Agreement [Member] \| President [Member]
Term Of Agreement	36 months
Agreement Description	Ms. Yan Li shall receive an annual salary of $100,500 and 100,000 shares of the Company’s common stock

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