Jubilant Flame International Reports Zero Revenue and Increased Net Loss for Nine-Month Period Ending November 30, 2024

Jubilant Flame International, Ltd. reported its financial results for the nine-month period ending November 30, 2024, revealing a continued lack of revenue generation. The company recorded no sales revenue for both the current and prior nine-month periods, maintaining a consistent trend of zero revenue since transitioning to its current business model focused on providing technical support services for nutrition product development. The net loss for the nine months ended November 30, 2024, was $46,370, a decrease from the net loss of $51,741 reported for the same period in 2023.

In terms of operating expenses, Jubilant Flame International reported a total of $46,370 for the nine months ended November 30, 2024, down from $51,741 in the previous year. The decrease in expenses was primarily attributed to a reduction in professional fees, which fell by $5,850, while other costs, such as OTC service expenses, saw a slight increase. The company’s total current assets increased to $16,855 as of November 30, 2024, compared to $12,595 at the end of the previous fiscal period, largely due to an increase in prepaid expenses.

The company’s liabilities also saw a rise, with total current liabilities amounting to $1,360,138, up from $1,309,508 as of February 29, 2024. This resulted in a working capital deficit of $1,343,283, raising concerns about the company's ability to continue as a going concern. The accumulated deficit increased to $3,832,314, further highlighting the financial challenges faced by the company. As of the reporting date, Jubilant Flame International had 19,985,708 shares of common stock outstanding.

Management indicated that the company is exploring options for additional financing, including the potential sale of equity securities and loans from related parties, to support its operations and business plan in the nutrition product technology sector. However, there is no assurance that these efforts will be successful. The company has also noted that it does not have sufficient cash to fund its operations for the next twelve months, emphasizing the need for immediate financial support.

Looking ahead, Jubilant Flame International remains focused on securing the necessary capital to sustain its operations. The management's forward-looking statements suggest that while they are taking steps to obtain additional funding, the uncertainty surrounding the company's financial future persists. The company has not engaged in any significant strategic developments, acquisitions, or product launches during the reporting period, and it continues to operate with limited scale in its current business activities.