Jubilant Flame International, Ltd (JFIL) reported no revenue for the six months ended August 31, 2026, and a net loss of $45,008, compared with $32,502 a year earlier. Net cash used in operating activities was $32,496, and period-end cash was $1,660. As of August 31, current assets were $5,665 and current liabilities were $1,470,765, resulting in a $1,465,100 working capital deficit. The company said its current operating plan does not provide enough cash for at least the next 12 months and disclosed substantial doubt about its ability to continue as a going concern.
The company reported that its disclosure controls and procedures were not effective. It also reported $845,616 owed to CEO Yan Li under non-interest-bearing, unsecured related-party loans due upon demand. A 1-for-100 reverse stock split took effect September 9, 2026, reducing issued and outstanding common shares from 19,985,708 to 199,867; authorized shares and par value per share were unchanged. Management said it may seek equity or debt financing or borrowings, with no guarantee of success.