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Jubilant Flame International Ltd (JFIL0.00%) has submitted its 10-Q filing for the quarterly period ended November 30, 2024.
The filing includes financial statements for the period, showing no revenue for the three and nine months ended November 30, 2024, consistent with the same periods in the previous year.
Operating expenses for the three months ended November 30, 2024, were $14,130, a decrease from $14,954 in the same period in 2023. The decrease was mainly due to a reduction in professional fees.
For the nine months ended November 30, 2024, operating expenses were $46,370, down from $51,741 in the previous year, primarily due to lower professional fees.
The company reported a net loss of $14,130 for the three months ended November 30, 2024, compared to a net loss of $14,954 in the same period in 2023.
For the nine months ended November 30, 2024, the net loss was $46,370, compared to $51,741 in the previous year.
As of November 30, 2024, Jubilant Flame International Ltd had current assets of $16,855 and current liabilities of $1,360,138, resulting in a working capital deficit of $1,343,283.
The company acknowledges substantial doubt about its ability to continue as a going concern, citing limited profitable operations and an accumulated deficit of $3,832,314.
The company plans to raise additional capital through equity or debt offerings or borrowings from financial institutions or related parties.
Cash used in operating activities for the nine months ended November 30, 2024, was $53,275, a decrease from $59,573 in the previous year, attributed to reduced professional fee payments.
No cash was generated or used in investing activities during the nine months ended November 30, 2024 and 2023.
Cash provided by financing activities decreased to $53,185 for the nine months ended November 30, 2024, from $58,493 in the previous year, primarily from loans from related parties.
The company did not have any off-balance-sheet arrangements as of November 30, 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Jubilant Flame International Ltd quarterly 10-Q report dated January 8, 2025. To report an error, please email earnings@qz.com.