# EDGAR Filing Document

**Accession Number:** 0001517389
**File Stem:** 0001477932-25-004965
**Filing Date:** 2025-7
**Character Count:** 42270
**Document Hash:** a25f69570390ea0b8ae6a590191b795a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001477932-25-004965.hdr.sgml**: 20250710

**ACCESSION NUMBER**: 0001477932-25-004965

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 36

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250710

**DATE AS OF CHANGE**: 20250709

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Jubilant Flame International, Ltd
- **CENTRAL INDEX KEY:** 0001517389
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 272775885
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-55543
- **FILM NUMBER:** 251114697

**BUSINESS ADDRESS:**
- **STREET 1:** 3150 WILSHIRE BLVD.
- **STREET 2:** SUITE 2215
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90010
- **BUSINESS PHONE:** 6132523673

**MAIL ADDRESS:**
- **STREET 1:** 3150 WILSHIRE BLVD.
- **STREET 2:** SUITE 2215
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90010

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Jiu Feng Investment Hong Kong Ltd
- **DATE OF NAME CHANGE:** 20121212

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LIBERTY VISION, INC.
- **DATE OF NAME CHANGE:** 20110405

?xml version='1.0' encoding='ASCII'? jfil_10q.htm

**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 <u>May 31, 2025</u>**

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

**Commission file number <u>333-173456</u>**

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| |
|:---|
| **Jubilant Flame International, LTD**  |
| (Exact name of registrant as specified in its charter) |

---

**<u>Nevada</u>**

(State or other jurisdiction of incorporation or organization)

**<u>Room 508, T1N Vi Park, 360 Xin Long Road, Shanghai China, 201101</u>**

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

**<u>+ 86 21 64748888</u>**

(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.

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| | | | |
|:---|:---|:---|:---|
| 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 ☐&nbsp;&nbsp;&nbsp;&nbsp; No ☒

As of July 9, 2025, 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**

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| | | |
|:---|:---|:---|
| | | **Page** |
| **[PART I – FINANCIAL INFORMATION](#P1)** | **[PART I – FINANCIAL INFORMATION](#P1)** |  |
| [Item 1.](#I1) | [Financial Statements](#I1) | F-1 |
| [Item 2.](#I2) | [Management's Discussion and Analysis of Financial Condition and Results of Operations](#I2) | 3 |
| [Item 3.](#I3) | [Quantitative and Qualitative Disclosures About Market Risk](#I3) | 5 |
| [Item 4.](#I4) | [Controls and Procedures](#I4) | 5 |
| **[PART II – OTHER INFORMATION](#P2)** | **[PART II – OTHER INFORMATION](#P2)** |  |
| [Item 1.](#IT1) | [Legal Proceedings](#IT1) | 6 |
| [Item 1A.](#IT1a) | [Risk Factors](#IT1a) | 6 |
| [Item 2.](#IT2) | [Unregistered Sales of Equity Securities and Use of Proceeds](#IT2) | 6 |
| [Item 3.](#IT3) | [Defaults Upon Senior Securities](#IT3) | 6 |
| [Item 4.](#IT4) | [Mine Safety Disclosures](#IT4) | 6 |
| [Item 5.](#IT5) | [Other Information](#IT5) | 6 |
| [Item 6.](#IT6) | [Exhibits](#IT6) | 7 |
| **[SIGNATURES](#SIG)** | **[SIGNATURES](#SIG)** | 8 |

---

*[**Table of Contents**](#TOC)*

**PART I – FINANCIAL INFORMATION**

**ITEM 1. FINANCIAL STATEMENTS**

**JUBILANT FLAME INTERNATIONAL, LTD.**

**FOR THE THREE-MONTH PERIODS ENDED MAY 31, 2025**

**Index to Unaudited Financial Statements**

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| | |
|:---|:---|
| **Contents** | **Page** |
| [Balance Sheets May 31, 2025 and February 28, 2025 (Unaudited)](#BS) | F-2 |
| [Statements of Operations for the Three-Month Periods Ended May 31, 2025 and 2024 (Unaudited)](#OP) | F-3 |
| [Statements of Changes in Stockholders' Deficit for the Three-Month Periods Ended May 31, 2025 and 2024 (Unaudited)](#EQ) | F-4 |
| [Statements of Cash Flows for the Three-Month Periods Ended May 31, 2025 and 2024 (Unaudited)](#CF) | F-5 |
| [Notes to the Financial Statements (Unaudited)](#NOTE) | F-6 |

---

---

| |
|:---|
| F-1 |
| *[**Table of Contents**](#TOC)* |

---

---

| | | |
|:---|:---|:---|
| **JUBILANT FLAME INTERNATIONAL, LTD** | **JUBILANT FLAME INTERNATIONAL, LTD** | **JUBILANT FLAME INTERNATIONAL, LTD** |
| **BALANCE SHEETS** | **BALANCE SHEETS** | **BALANCE SHEETS** |
| **(UNAUDITED)** | **(UNAUDITED)** | **(UNAUDITED)** |
|  | **May 31,** | **February 28,** |
|  | **2025** | **2025** |
| **ASSETS** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Current assets** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $1225 | $1225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expenses | 7800 | 11700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current assets** | 9025 | 12925 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Assets** | $9025 | $12925 |
| **LIABILITIES & STOCKHOLDERS' DEFICIT** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Current liabilities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable – related parties | $47643 | $47643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expense | 32361 | 22943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued officer compensation | 535500 | 535500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loan payable - related parties | 769296 | 763424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total current liabilities** | 1384800 | 1369510 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Liabilities** | 1384800 | 1369510 |
| Commitment and Contingencies |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Stockholders' Deficit** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 | 19986 | 19986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional paid in capital | 2469045 | 2469045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated deficit | (3864806) | (3845616) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Stockholders' Deficit** | (1375775) | (1356585) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total Liabilities and Stockholders' Deficit** | $9025 | $12925 |

---

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

---

| |
|:---|
| F-2 |
| *[**Table of Contents**](#TOC)* |

---

---

| | | |
|:---|:---|:---|
| **JUBILANT FLAME INTERNATIONAL, LTD** | **JUBILANT FLAME INTERNATIONAL, LTD** | **JUBILANT FLAME INTERNATIONAL, LTD** |
| **STATEMENTS OF OPERATIONS** | **STATEMENTS OF OPERATIONS** | **STATEMENTS OF OPERATIONS** |
| **(UNAUDITED)** | **(UNAUDITED)** | **(UNAUDITED)** |
|  | **For the three months ended** | **For the three months ended** |
|  | **May 31,** | **May 31,** |
|  | **2025** | **2024** |
| Revenue | $- | $- |
| Costs and Operating Expenses: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cost of goods sold |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating, selling, general and administrative | 19190 | 22171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total operating expenses | 19190 | 22171 |
| Loss from operations | (19190) | (22171) |
| Loss before provision for income tax | (19190) | (22171) |
| Provision for income tax | - | - |
| **Net loss** | $(19190) | $(22171) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net loss per share (basic and diluted)** | $(0.00) | $(0.00) |
| Weighted average number of common shares outstanding | 19985708 | 19985708 |

---

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

---

| |
|:---|
| F-3 |
| *[**Table of Contents**](#TOC)* |

---

**JUBILANT FLAME INTERNATIONAL, LTD**

**STATEMENTS OF CHANGES IN STOCKHOLDERS' DEFICIT** 

**(UNAUDITED)**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | | | |
|  | **Shares** | **Amount** | **Additional**<br>**paid in** <br>**capital** | **Accumulated** <br>**deficit** | **Total**<br>**Stockholders'** <br>**Deficit** |
| Balances at February 28, 2025 | 19985708 | $19986 | $2469045 | $(3845616) | $(1356585) |
| Net loss | - | - | - | (19190) | (19190) |
| Balances at May 31, 2025 | 19985708 | $19986 | $2469045 | $(3864806) | $(1375775) |

---

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | | | |
|  | **Shares** | **Amount** | **Additional**<br>**paid in** <br>**capital** | **Accumulated** <br>**deficit** | **Total**<br>**Stockholders'** <br>**Deficit** |
| Balances at February 29, 2024 | 19985708 | $19986 | $2469045 | $(3785944) | $(1296913) |
| Net loss | - | - | - | (22171) | (22171) |
| Balances at May 31, 2024 | 19985708 | $19986 | $2469045 | $(3808115) | $(1319084) |

---

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

---

| |
|:---|
| F-4 |
| *[**Table of Contents**](#TOC)* |

---

---

| | | |
|:---|:---|:---|
| **JUBILANT FLAME INTERNATIONAL, LTD** | **JUBILANT FLAME INTERNATIONAL, LTD** | **JUBILANT FLAME INTERNATIONAL, LTD** |
| **STATEMENTS OF CASH FLOWS** | **STATEMENTS OF CASH FLOWS** | **STATEMENTS OF CASH FLOWS** |
| **(UNAUDITED)** | **(UNAUDITED)** | **(UNAUDITED)** |
|  | **For the three months ended**<br>**May 31,** | **For the three months ended**<br>**May 31,** |
|  | **2025** | **2024** |
| **Cash Flows from Operating Activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loss | $(19190) | $(22171) |
| &nbsp;&nbsp;&nbsp;&nbsp;Changes in current assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Prepaid expense | 3900 | 3750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued expense | 9418 | 14330 |
| Net cash used in operating activities | (5872) | (4091) |
| **Cash Flows from Financing Activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net proceeds from related party loans | 5872 | 4061 |
| Net cash provided by financing activities | 5872 | 4061 |
| Net decrease in cash and cash equivalents |  | (30) |
| Cash and cash equivalents, beginning of period | 1225 | 1345 |
| Cash and cash equivalents, end of period | $1225 | $1315 |
| **Supplemental Disclosure** |  |  |
| Cash paid for interest | $- | $- |
| Cash paid for income tax | $- | $- |

---

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

---

| |
|:---|
| F-5 |
| *[**Table of Contents**](#TOC)* |

---

**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 inventory from a related party company in China. The Company contracted with a third party to operate 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 has not generated significant revenue from this new business by the first quarter ended at May 31, 2025.

**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 May 31, 2025, results of operations, changes in stockholders' equity (deficit) and cash flows for the three-month periods ended May 31, 2025 and 2024, 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.

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|:---|
| F-6 |
| *[**Table of Contents**](#TOC)* |

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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.

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.

***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.

**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 May 31, 2025, the Company had current assets of $9,025, and current liabilities total $1,384,800 resulting in a working capital deficit of $1,375,775. The Company currently has small scale operation activities and has an accumulated deficit of $3,864,806 as of May 31, 2025. 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, 2024 to November 30, 2025. The service charge is recorded as a prepaid expense and amortized using straight line amortization over the service period. The prepaid expense balance is $7,800 as of May 31, 2025 compared to $11,700 as of February 28, 2025.

**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 May 31, 2025, the Company had a $769,296 loan outstanding with its CEO, Ms. Yan Li. This compares with the outstanding balance of $763,424 for Ms. Yan Li at February 28, 2025. The loans are non-interest bearing, due upon demand and unsecured.

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|:---|
| F-7 |
| *[**Table of Contents**](#TOC)* |

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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 May 31, 2025 and February 28, 2025.

**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 shall receive an annual salary of $100,500 and 100,000 shares of the Company's common stock.

As of May 31, 2025, a total of $535,500 has been accrued as salary compensation payable to the president compared to $535,500 at February 28, 2025.

**NOTE 7 – SUBSEQUENT EVENTS**

The Company has evaluated subsequent events through the date which the financial statements were available to be issued. All subsequent events requiring recognition as of May 31, 2025 have been incorporated into these financial statements and there are no subsequent events that require disclosure in accordance with FASB ASC Topic 855, "Subsequent Events."

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| |
|:---|
| F-8 |
| *[**Table of Contents**](#TOC)* |

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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.

**<u>Our Business</u>**

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 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. In the beginning of 2020, the Company ceased the marketing and selling of cosmetic products in the United States.

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

 **Results of Operations** 

*Revenue*

We recognized no sales revenue in the three months ended May 31, 2025 compared to nil sales revenue in the three months ended May 31, 2024.

*Operating Expenses*

*For the three months ended May 31, 2025 compared to the three months ended May 31, 2024*

The major components of our operating expenses for the three months ended May 31, 2025 and 2024 are outlined in the table below:

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| | | |
|:---|:---|:---|
|  | **Three**<br>**Months**<br>**Ended**<br>**May 31**<br>**2025** | **Three**<br>**Months**<br>**Ended**<br>**May 31**<br>**2024** |
| Officer stock compensation | $- | $- |
| Professional fee | 15290 | 18391 |
| OTC service expense and others | 3900 | 3780 |
| Total operating expenses | $19190 | $22171 |

---

The $2,981 decrease in our operating costs for the three months ended May 31, 2025, compared to three months ended May 31, 2024, was mainly due to the decrease in accounting service fee of $3,000.

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| 3 |
| *[**Table of Contents**](#TOC)* |

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*Other Expenses*

No other expenses incurred during the three-month periods ended May 31, 2025 and 2024.

*Net Loss*

For the three months ended May 31, 2025, we recognized a net loss of $19,190 compared to the net loss of $22,171 for the corresponding period in 2024.

**<u>Liquidity and Capital Resources</u>**

<u>Working Capital</u> 

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| | | |
|:---|:---|:---|
|  | **May 31,**<br>**2025** | **February 28,**<br>**2025**  |
| Current Assets  | $9025 | $12925 |
| Current Liabilities  | 1384800 | 1369510 |
| Working Capital Deficit  | $(1375775) | $(1356585) |

---

As of May 31, 2025, the Company had current assets of $9,025, primarily comprising of cash of $1,225, prepaid expenses of $7,800 and current liabilities of $1,384,800, resulting in a working capital deficit of $1,375,775. The Company had limited profitable operation activities and has an accumulated deficit of $3,864,806 as at May 31, 2025. This raises substantial doubt about the Company's ability to continue as a 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.

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.

***Cash Flows from Operating Activities***

Our net cash used in operating activities increased by $1,781 in the three months ended May 31, 2025 compared to the net cash used in operating activities in the three months ended May 31, 2024. The increase in net cash used in operating activities was primarily the result of a $2,750 decrease in accrued professional fee.

***Cash Flows from Investing Activities***

We did not generate or use any cash from investing activities during the three months ended May 31, 2025 or 2024.

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| 4 |
| *[**Table of Contents**](#TOC)* |

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***Cash Flows from Financing Activities***

Our cash provided by financing activities increased from $4,061 for the three months ended May 31, 2024 to $5,872 for the three months ended May 31, 2025. In both periods, cash was provided by the way of loans from related parties.

<u>Future Financings</u>

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.

**Recent Accounting Pronouncements**

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 is intended to improve income tax disclosure requirements by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) the disaggregation of income taxes paid by jurisdiction. The guidance makes several other changes to the income tax disclosure requirements. The guidance in ASU 2023-09 will be effective for annual reporting periods in fiscal years beginning after December 15, 2024. The Company is currently evaluating the impact that the adoption of ASU 2023-09 will have on its financial statements and disclosures.

**Off Balance Sheet Arrangements**

As of May 31, 2025, 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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| *[**Table of Contents**](#TOC)* |

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**PART II – OTHER INFORMATION**

**ITEM 1. LEGAL PROCEEDINGS.**

We were not subject to any legal proceedings during the three months ended May 31, 2025, 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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| *[**Table of Contents**](#TOC)* |

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**ITEM 6. EXHIBITS**

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

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| | |
|:---|:---|
| **EXHIBIT NUMBER** | **DESCRIPTION** |
| [31.1](jfil_ex311.htm) | [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](jfil_ex311.htm) |
| [31.2](jfil_ex312.htm) | [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](jfil_ex312.htm) |
| [32.1](jfil_ex321.htm) | [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](jfil_ex321.htm) |
| [32.2](jfil_ex322.htm) | [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](jfil_ex322.htm) |
| 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 Label 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) |

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________

\*\* 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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| *[**Table of Contents**](#TOC)* |

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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.

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| | | |
|:---|:---|:---|
|  | **JUBILANT FLAME INTERNATIONAL LTD**  | **JUBILANT FLAME INTERNATIONAL LTD**  |
| Date: July 9, 2025 | By: | */s/ Yan Li* |
|  |  | Yan Li |
|  |  | President, Chief Executive Officer<br>(Principal Executive Officer) and Director |
| Date: July 9, 2025 | By: | */s/ Lei Wang* |
|  |  | Lei Wang |
|  |  | (Principal Financial Officer) and Director |

---

## Exhibit 31.1

**EXHIBIT 31.1**

**CERTIFICATION OF THE PRESIDENT AND CHIEF EXECUTIVE OFFICER**

**PURSUANT TO RULE 13a-14(a) OR 15d-14(a)**

**OF THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO SECTION 302 OF THE**

**SARBANES-OXLEY ACT OF 2002**

I, Yan Li, certify that:

1. I have reviewed this quarterly report on Form 10-Q for the period ending May 31, 2025, of Jubilant Flame International Ltd. 'the registrant'

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have.

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| Date: July 9, 2025 | By:  | */s/ Yan Li* |
|  |  | Yan Li |
|  |  | Chief Executive Officer  |

---

## Exhibit 31.2

**EXHIBIT 31.2**

**CERTIFICATION OF THE CHIEF FINANCIAL OFFICER**

**PURSUANT TO RULE 13a-14(a) OR 15d-14(a)**

**OF THE SECURITIES EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO SECTION 302 OF THE**

**SARBANES-OXLEY ACT OF 2002**

I, Lei Wang, certify that:

1. I have reviewed this quarterly report on Form 10-Q for the period ending May 31, 2025, of Jubilant Flame International Ltd. 'the registrant'

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have.

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

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| | |
|:---|:---|
| Date: July 9, 2025 | */s/ Lei Wang* |
|  | Lei Wang |
|  | Chief Financial Officer |

---

## Exhibit 32.1

**EXHIBIT 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**

In connection with the Quarterly Report of Jubilant Flame International Ltd. (the "Company") on Form 10-Q for the period ended May 31, 2025 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Yan Li, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and <br>2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

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| | | |
|:---|:---|:---|
| Date: July 9, 2025 | By: | */s/ Yan Li* |
|  |  | Yan Li |
|  |  | Chief Executive Officer |

---

## Exhibit 32.2

**EXHIBIT 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**

In connection with the Quarterly Report of Jubilant Flame International Ltd. (the "Company") on Form 10-Q for the period ended May 31, 2025 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Lei Wang, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and <br>2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

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| | | |
|:---|:---|:---|
| Date: July 9, 2025 | By: | */s/ Lei Wang* |
|  |  | Lei Wang |
|  |  | Chief Financial Officer |

---