Jubilant Flame International, Ltd. reports another year with no revenue and a net loss of $63,507 for the year ended February 28, 2026, slightly higher than the prior year’s $59,672. The company has fully shifted from cosmetics distribution to offering technical support for nutrition-focused food products, but this new business line has not yet generated sales.
Cash remained minimal at $4,175, while current liabilities reached $1,436,282, producing a working capital deficit of $1,420,092 and an accumulated deficit of $3,909,123. Auditors issued a going concern warning, citing recurring losses and dependence on funding from the CEO, whose non‑interest bearing loans totaled $815,635 as of year‑end. Common stock trades on the OTCQB with low liquidity, and no dividends are planned as management prioritizes survival and potential business development.
Jubilant Flame International, LTD filed a current report describing a change in its independent auditor and reiterating going concern and control issues. On April 10, 2026, the company accepted the resignation of KCCW Accountancy Corp as its independent registered public accounting firm and appointed WWC, Professional Corporation as the new auditor.
KCCW’s reports on the company’s financial statements for the fiscal years ended February 28, 2025 and February 29, 2024 were unqualified but included an explanatory paragraph about the company’s ability to continue as a going concern. The company reports no disagreements with KCCW on accounting or auditing matters, although there were material weaknesses related to account reconciliations and lack of precision and accuracy in the financial statements.
The board of directors approved the auditor change, and KCCW’s letter agreeing or disagreeing with the company’s disclosures is filed as Exhibit 16.1. The company states it had not previously consulted WWC on accounting principles, audit opinions, or any matters involving disagreements before this engagement.
Jubilant Flame International Ltd reported another quarter with no revenue and a small net loss, highlighting ongoing operating challenges. For the three months ended November 30, 2025, the company recorded a net loss of $14,496, and for the nine months the loss was $46,998, similar to the prior-year period. Operating expenses for the nine months were $46,998, driven mainly by professional fees and OTC listing service costs.
The balance sheet remains very weak. As of November 30, 2025, cash was $4,175 against current liabilities of $1,407,758, creating a working capital deficit of $1,403,583 and an accumulated deficit of $3,892,614. Management states that these conditions raise substantial doubt about the company’s ability to continue as a going concern and expects to rely on additional equity or debt financing and loans from related parties.
The business has not generated significant revenue from its nutrition product technical support line, and operations are funded primarily through a non‑interest‑bearing, on‑demand loan from the CEO, which totaled $789,232 at November 30, 2025, and accrued officer compensation of $535,500. Management also concluded that disclosure controls and procedures were not effective. As of January 13, 2026, 19,985,708 shares of common stock were outstanding.
Jubilant Flame International Ltd (JFIL) filed its quarterly report for the period ended August 31, 2025. The company reported $0 revenue and a net loss of $13,312 for the quarter; for the six months, the net loss was $32,502. Management disclosed a going concern uncertainty, citing a working capital deficit of $1,389,087 as of August 31, 2025. Current assets were $5,125 (including $1,225 cash) against $1,394,212 in current liabilities. The accumulated deficit reached $3,878,118.
Operations remain minimal with expenses primarily in professional and OTC filing fees. Related-party financing continues to support liquidity: a $770,958 non‑interest‑bearing, demand loan from the CEO and $535,500 in accrued officer compensation were outstanding. Management concluded that disclosure controls and procedures were not effective. Common shares outstanding were 19,985,708 as of October 24, 2025.