JFIL 10-K & 10-Q changes, risk factors and insider trading
Jubilant Flame International, Ltd (also JFILD) · Services-Computer Programming Services · CIK 1517389 · All filings on SEC.gov
At a glance
What changed in the latest 10-K
Risk Factors
Not available: the section could not be located automatically in both filings (non-standard layout or incorporated by reference). See the original filing. Open the filing on SEC.gov.
Management's Discussion & Analysis (MD&A)
Largest changes
“During the year ended February 28, 2026, we generated $52,211 in financing activities compared to $69,699 during the year ended February 28, 2025, the decrease is due to proceed decrease from the CEO.”see in full comparison
“During the year ended February 28, 2025, we generated $69,699 in financing activities compared to $61,653 during the year ended February 29, 2024, the decrease is due to proceed decrease from the CEO.”see in full comparison
Our operating expensessee in full comparisondecreasedincreased by$7,693$3,835 for the year ended February 28,2025,2026, compared to the fiscal year ended February29,28,2024.2025. The decrease was mainly due toaandecreaseincrease of$5,000$3,000 inaccounting andaudit expenses anddecreaseincrease of$2,420$555 inlegalOTC service fee.
Full comparison: every changed paragraph (4)
From last quarter of the fiscal year ended February 28, 2018, we started to promote and sell our new cosmetic products in the United States market. We purchase the Acropass Products and other Products from an affiliated company in China. In the beginning of 2020, the Company ceased the marketing and selling of cosmetic products in the United States. From the third quarter of year ended February 29, 2020, the company started to provide technical support services in connection with nutritionally oriented food that include Sea-Buckthourn and Organic Spouting Powder. We recognized Nil of revenue during the fiscal year ended February 28, 20252026 and February 29,28, 20242025 respectively. The result was primarily due to slow down in new business line.
Our operating expenses decreasedincreased by $7,693$3,835 for the year ended February 28, 2025,2026, compared to the fiscal year ended February 29,28, 2024.2025. The decrease was mainly due to aan decreaseincrease of $5,000$3,000 in accounting and audit expenses and decreaseincrease of $2,420$555 in legalOTC service fee.
During the year ended February 28, 2026, we generated $52,211 in financing activities compared to $69,699 during the year ended February 28, 2025, the decrease is due to proceed decrease from the CEO.
During the year ended February 28, 2025, we generated $69,699 in financing activities compared to $61,653 during the year ended February 29, 2024, the decrease is due to proceed decrease from the CEO.
What changed in the latest 10-Q
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.
No wording changes found in this section.
Full comparison: every changed paragraph (0)
Management's Discussion & Analysis (MD&A)
New heading “Recent Accounting Pronouncements”
Removed heading “For the nine months ended November 30, 2025 compared to the nine months ended November 30, 2024”
Largest changes
“For the nine months ended November 30, 2025 compared to the nine months ended November 30, 2024”see in full comparison
For the three months endedsee in full comparisonNovemberMay30,31,20252026 compared to the three months endedNovemberMay30,31,20242025
“On November 4, 2024, the FASB issued an ASU No. 2024-03, Disaggregation of Income Statement Expenses (“ASU 2024 03”) to improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions (such as cost of sales; selling, general, and administrative expenses; and research and development). …”see in full comparison
“In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company adopted ASU 2023-09 effective March 1,2025, and applied the new disclosure requirements prospectively to the current annual period of adoption. …”see in full comparison
“In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires disclosure of significant segment expenses regularly provided to the chief operating decision maker (“CODM”), the title and position of the CODM, and how the CODM uses reported measures of segment profit or loss in assessing segment performance and resource allocation. The Company adopted this standard effective March 1, 2024 on a retrospective basis. …”see in full comparison
Full comparison: every changed paragraph (23)
From the third quarter of the year ended February 29, 2020, the Company began its new business line of providing technical support services for development of new nutrition food products to sell to customers in USA. No significant revenue has been generated fromHowever, this new business line.line remained pre-revenue throughout the quarter ended at May 31, 2026 that revenue recognition was Nil for the first quarter ended at May 31, 2026.
We recognized no sales revenue in the three and nine months ended NovemberMay 30,31, 20252026 compared to nil sales revenue in the three and nine months ended NovemberMay 30,31, 2024.2025.
For the three months ended NovemberMay 30,31, 20252026 compared to the three months ended NovemberMay 30,31, 20242025
The major components of our operating expenses for the three months ended NovemberMay 30,31, 20252026 and 20242025 are outlined in the table below:
The $366$10,541 increase in our operating costs for the three months endedending NovemberMay 30,31, 20252026, compared to three months ended NovemberMay 30,31, 2024,2025, was mainly due to anthe increase of $185 in professionalaccounting and audit service fee and an increase of $150 in OTC service expense.$10,000.
For the nine months ended November 30, 2025 compared to the nine months ended November 30, 2024
The major components of our operating expenses for the nine months ended November 30, 2025 and 2024 are outlined in the table below:
The $628 increase in our operating costs for the nine months ended November 30, 2025 compared to nine months ended November 30, 2024, was mainly due to an increase in OTC service expense of $450 and an increase of $207 in professional fee.
No other expenses incurred during the three and nine-monththree-month periods ended NovemberMay 30,31, 20252026 and 2024.2025.
Net Loss
For the three months endedending NovemberMay 30,31, 2025,2026, we recognized a net loss of $14,496$29,731 compared to the net loss of $14,130$19,190 for the corresponding period in 2024.2025.
For the nine months ended November 30, 2025, we recognized a net loss of $46,998 compared to the net loss of $46,370 for the corresponding period in 2024.
As of NovemberMay 30,31, 2025,2026, the Company had current assets of $4,175,$9,725, primarily comprising of cash of $4,175$1,715 and prepaid expenses of $8,010, and current liabilities of $1,407,758,$1,459,548, resulting in a working capital deficit of $1,403,583.$1,449,823. The Company had limited profitable operation activities and has an accumulated deficit of $3,892,614$3,938,854 as ofat NovemberMay 30,31, 2025.2026. This raises substantial doubt about the Company’sCompany's ability to continue as a going concern.
Our net cash used in operating activities decreasedincreased by $30,417$15,178 in the ninethree months ended NovemberMay 30,31, 2025 to $22,858,2026 compared to the net cash used in operating activities in the ninethree months endedending NovemberMay 30,31, 2024 of $53,275.2025. The decreaseincrease in net cash used in operating activities was primarily thedue resultto higher net loss of a $16,050 increase$10,541 in prepaidthe expensecurrent quarter, and $14,995a increasedecrease of $4,742 in accrued expenses.expenses comparing to the first quarter of previous fiscal year.
We did not generate or use any cash from investing activities during the ninethree months ended NovemberMay 30,31, 20252026 and 2024.2025.
Our cash provided by financing activities decreasedincreased byfrom $27,377 to $25,808$5,872 for the ninethree months ended NovemberMay 30,31, 2025 compared to $53,185$18,590 for the ninethree months ended NovemberMay 30,31, 2024.2026. In both periods, cash was provided by theshort way ofterm loans from related parties.
Future FinancingFinancings
Recent Accounting Pronouncements
In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires disclosure of significant segment expenses regularly provided to the chief operating decision maker (“CODM”), the title and position of the CODM, and how the CODM uses reported measures of segment profit or loss in assessing segment performance and resource allocation. The Company adopted this standard effective March 1, 2024 on a retrospective basis. The Company operates as a single operating segment, and the adoption did not have a material impact on the Company’s financial statements and disclosures.
In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires public entities, on an annual basis, to provide disclosure of specific categories in the rate reconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The Company adopted ASU 2023-09 effective March 1,2025, and applied the new disclosure requirements prospectively to the current annual period of adoption. The adoption did not have a material impact on the Company’s financial statements and disclosures.
On November 4, 2024, the FASB issued an ASU No. 2024-03, Disaggregation of Income Statement Expenses (“ASU 2024 03”) to improve the disclosures about a public business entity’s expenses and address requests from investors for more detailed information about the types of expenses in commonly presented expense captions (such as cost of sales; selling, general, and administrative expenses; and research and development). These required categories include purchases of inventory, employee compensation, depreciation, and intangible asset amortization, as well as other relevant items included within each applicable expense caption, as applicable. The FASB issued ASU 2024-03 on November 4, 2024, which states that the amendments are effective for public business entities for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027.
The Company has adopted all applicable new accounting pronouncements that are in effect as of the date of the issuance of these financial statements. The Company’s management does not believe that any other recently issued, but not yet effective, authoritative guidance, if currently adopted, would have a material impact on the Company’s financial statement and disclosure.
As of NovemberMay 30,31, 2025,2026, we did not have any off-balance-sheet arrangements, as defined in Item 303(a)(4)(ii) of Regulation S-K.
JFIL insider buying and selling (Form 4)
Since 2026-04-11, insiders reported open-market purchases in 0 Form 4 filings and open-market sales in 0 filings. Totals add up every open-market (code P and S) line in those filings, using the prices reported in the filings. Awards, option exercises, tax withholding and gifts are listed below but not counted.
No Form 4 stock transactions in this period.
Well-known investors holding JFIL (13F)
None of the 59 investors we track reported a position in their latest 13F.