Quarterly Report (10-q)

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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 August 31, 2022

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

Commission file number 333-173456

Jubilant Flame International, LTD

(Exact name of registrant as specified in its charter)

Nevada

(State or other jurisdiction of incorporation or organization)

10F., Yunfeng Building, No. 478 Wuzhong Rd, Shanghai, China 201103

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

+ 86 21 64748888

(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.

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 ☐ No ☒

As of September 28, 2022, 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

		Page
PART I – FINANCIAL INFORMATION

Item 1.	Financial Statements	F-1
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	3
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	5
Item 4.	Controls and Procedures	5

PART II – OTHER INFORMATION

Item 1.	Legal Proceedings	6
Item 1A.	Risk Factors	6
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	6
Item 3.	Defaults Upon Senior Securities	6
Item 4.	Mine Safety Disclosures	6
Item 5.	Other Information	6
Item 6.	Exhibits	7
SIGNATURES		8

Table of Contents

PART I – FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

JUBILANT FLAME INTERNATIONAL, LTD.

FOR THE SIX-MONTH PERIODS ENDED August 31, 2022

Index to Unaudited Financial Statements

Contents		Page
Balance Sheets August 31, 2022 and February 28, 2022 (Unaudited)		F-2
Statements of Operations for the Three and Six-Month Periods Ended August 31, 2022 and 2021 (Unaudited)		F-3
Statements of Changes in Stockholders’ Deficit for the Three and Six-Month Periods Ended August 31, 2022 and 2021 (Unaudited)		F-4
Statements of Cash Flows for the Six-Month Periods Ended August 31, 2022 and 2021 (Unaudited)		F-5
Notes to the Financial Statements (Unaudited)		F-6

F-1

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JUBILANT FLAME INTERNATIONAL, LTD

Balance Sheets

(Unaudited)

	August 31,			February 28,
	2022			2022
ASSETS

Current assets
Cash	$	3,582		$	3,582
Prepaid expenses		3,500			10,500
Total current assets		7,082			14,082

Total Assets	$	7,082		$	14,082

LIABILITIES & STOCKHOLDERS’ DEFICIT

Current liabilities
Accounts payable and accrued liabilities	$	22,500		$	7,000
Due to related party		47,643			47,643
Accrued officer compensation		535,500			535,500
Loan payable - related parties		601,459			591,942
Total current liabilities		1,207,102			1,182,085

Total Liabilities		1,207,102			1,182,085

Commitment and Contingencies

Stockholders’ Deficit
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		19,986			19,986
Additional paid in capital		2,469,045			2,469,045
Accumulated deficit		(3,689,052	)		(3,657,034	)
Total Stockholders’ Deficit		(1,200,021	)		(1,168,003	)

Total Liabilities and Stockholders’ Deficit	$	7,082		$	14,082

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

F-2

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JUBILANT FLAME INTERNATIONAL, LTD

Statements of Operations

(Unaudited)

	For the three months ended						For the six months ended
	August 31,						August 31,
	2022			2021			2022			2021

Sales of goods	$	-		$	-		$	-			-
Total revenue		-			-			-			-
Costs and Operating Expenses:
Cost of goods sold		-			-			-			-
Operating, selling, general and administrative		14,104			18,333		$	32,017		$	40,104
Total operating expenses		(14,104	)		(18,333	)		(32,017	)		(40,104	)

Loss from operations		(14,104	)		(18,333	)		(32,017	)		(40,104	)

Other Income		-			22,000			32,017			22,243
Income (loss) before provision for income taxes		(14,104	)		3,667			(32,017	)		(17,861	)

Net Income (loss)	$	(14,104	)	$	3,667		$	(32,017	)	$	(17,861	)

Net Income (loss) per share
Basic	$	(0.00	)	$	0.00		$	(0.00	)	$	(0.00	)
Diluted	$	(0.00	)	$	0.00		$	(0.00	)	$	(0.00	)
Weighted average shares used in per share computation
Basic		19,985,708			19,548,208			19,985,708			19,548,208
Diluted		19,985,708			19,674,567			19,985,708			19,548,208

The accompanying notes are an integral part of these financial statements

F-3

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JUBILANT FLAME INTERNATIONAL, LTD

Statement of Changes in Stockholders’ Deficit

(Unaudited)

For the Three Months ended August 31, 2022 and 2021
					Additional					Total
	Common Stock				paid in		Accumulated			Stockholders’
	Shares		Amount		Capital		deficit			Deficit
Balance as of May 31, 2022		19,985,708	$	19,986	$	2,469,045	$	(3,674,948	)	$	(1,185,917	)
Net income for the period								(14,104	)		(14,104	)
Balance as of August 31, 2022		19,985,708	$	19,986	$	2,469,045	$	(3,689,052	)	$	(1,200,021	)

					Additional					Total
	Common Stock				paid in		Accumulated			Stockholders’
	Shares		Amount		Capital		deficit			Deficit
Balance as of May 31, 2021		19,548,208	$	19,548	$	2,458,233	$	(3,613,751	)	$	(1,135,970	)
Shares awarded for stock compensation						4,500					4,500
Net income for the period								3,667			3,667
Balance as of August 31, 2021		19,548,208	$	19,548	$	2,462,733	$	(3,610,084	)	$	(1,127,803	)

For the Six Months ended August 31, 2022 and 2021
					Additional					Total
	Common Stock				paid in		Accumulated			Stockholders’
	Shares		Amount		Capital		deficit			Deficit
Balance as of February 28, 2022		19,985,708	$	19,986	$	2,469,045	$	(3,657,035	)	$	(1,168,003	)
Net loss for the period								(32,017	)		(32,017	)
Balance as of August 31, 2022		19,985,708	$	19,986	$	2,469,045	$	(3,689,052	)	$	(1,200,021	)

					Additional					Total
	Common Stock				paid in		Accumulated			Stockholders’
	Shares		Amount		Capital		deficit			Deficit
Balance as of February 28, 2021		19,548,208	$	19,548	$	2,453,733	$	(3,592,223	)	$	(1,118,942	)
Shares awarded for stock compensation						9,000					9,000
Net loss for the period								(17,861	)		(17,861	)
Balance as of August 31, 2021		19,548,208	$	19,548	$	2,462,733	$	(3,610,084	)	$	(1,127,803	)

The accompanying notes are an integral part of these financial statements

F-4

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JUBILANT FLAME INTERNATIONAL, LTD

Statement of Cash Flows

(Unaudited)

	For the six months ended August 31,
	2022			2021
Cash Flows from Operating Activities:
Net loss	$	(32,017	)	$	(17,861	)

Adjustments to reconcile net (loss) to net cash provided by operating activities
Share based compensation		-			9,000
Changes in Current Assets and Liabilities:
Prepaid expense		7,000			6,000
Accounts payable		15,500			8,500
Net cash (used in) provided by operating activities		(9,517	)		5,639

Cash Flows from Financing Activities:
Net proceeds from related party loans		9,517			16,532
Net cash provided by financing activities		9,517			16,532
Net Increase (Decrease) In Cash		-			22,171
Cash at The Beginning Of The Period		3,582			2,441
Cash at The End Of The Period	$	3,582		$	24,612
Supplemental Disclosure
Cash paid for interest		-			-
Cash paid for income tax		-			-

The accompanying notes are an integral part of these financial statements

F-5

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JUBILANT FLAME INTERNATIONAL, LTD

Notes to Financial Statements

August 31, 2022

(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 the inventory from a related party company in China. The Company contracted with a third party to operate the 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 development of new nutrition food products to sell to customers in USA. The company had not generated significant revenue from this new business.

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 August 31, 2022, results of operations, changes in stockholders’ equity (deficit) and cash flows for the six month periods ended August 31, 2022 and 2021, 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.

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.

F-6

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Net Income/(loss) Per Common Share

Basic net income/(loss) per share is computed by dividing net income/(loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income/(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 except the second quarter ended at August 31, 2021, the impact of the common stock equivalents would be anti- dilutive and therefore are not included in the calculation in those periods.

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 August 31, 2022 the Company had current assets of $7,082, and current liabilities total $1,207,102 resulting in a working capital deficit of $1,200,020. The Company currently only has small scale operation activities and has an accumulated deficit of $3,689,052 as of August 31, 2022. 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.

NOTE 4 – PREPAID EXPENSE

The Company is paying an annual fee for its OTC Markets service. The service period is from December 1, 2021 to November 30, 2022. The service charge is recorded as a prepaid expense and amortized using straight line amortization over the service period. The prepaid expense balance is $3,500 as of August 31, 2022 compared to $10,500 as of February 28, 2022.

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.

F-7

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As of August 31, 2022, the Company had a $601,459 loan outstanding with its CEO, Ms. Yan Li. This compares with the outstanding balance of $591,942 for Ms. Yan Li at February 28, 2022. The loans are non-interest bearing, due upon demand and unsecured.

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 August 31, 2022 and February 28, 2022.

NOTE 6 – ACCRUED OFFICER COMPENSATION AND STOCK 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, both Ms. Yan shall receive an annual salary of $100,500 and 100,000 shares of the Company’s common stock.

On January 15, 2019, the board of the company approved new compensation to its five officers including two new appointed directors. The five directors waived their salary and receive a total of 500,000 shares each year for a term of three years.

As of August 31, 2022, a total of $535,500 had been accrued as salary compensation payable compared to $535,500 at February 28, 2022 to the president only.

During the three months ended August 31, 2022, a total of $0 stock compensation had been recorded to the five senior officers compared to $4,500 for the same period in the prior year to five directors.

NOTE 7 – SUBSEQUENT EVENTS

In accordance with ASC 855-10 “Subsequent Events”, the company has analyzed its operations subsequent to August 31, 2022, to September 28, 2022, the date when the financial statements were issues. The Management of the Company determined that there were no reportable events that occurred during that subsequent period to be disclosed or recorded.

F-8

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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.

Our Business

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 third quarter of the year ended February 29, 2020, the company began providing technical support services for development of new nutrition food products to sell to customers in USA.

Results of Operations

Revenue

We recognized no sales revenue in the three months ended August 31, 2022 and 2021.

Operating Expenses

For the three months ended August 31, 2022 compared to the three months ended August 31, 2021

The major components of our operating expenses for the three months ended August 31, 2022 and 2021 are outlined in the table below:

	Three Months Ended		Three Months Ended
	Aug 31		Aug 31
	2022		2021

Officer compensation		-		4,500
Professional fee		10,604		10,761
OTC Filing fees		3,500		3,000
Other G&A		-		72
Total operating expenses	$	14,104	$	18,333

The $4,229 decrease in our operating costs for the three months ended August 31, 2022 compared to three months ended August 31, 2021, was mainly due to a decrease of $4,500 decrease in officer stock compensation.

For the six months ended August 31, 2022 compared to the six months ended August 31, 2021

The major components of our operating expenses for the six months ended August 31, 2022 and 2021 are outlined in the table below:

	Six Months Ended		Six Months Ended
	Aug 31		Aug 31
	2022		2021
Officer compensation		-		9,000
Professional fee		25,017		25,032
OTC Filing fees		7,000		6,000
Other G&A		-		72
Total operating expenses	$	32,017	$	40,104

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The $8,087 decrease in our operating costs for the six months ended August 31, 2022 compared to six months ended August 31, 2021, was mainly due to a decrease of $9,000 decrease in officer compensation.

Other Income

For the three months ended August 31, 2022, we recognized other income of zero compared to $22,000 for the corresponding period in 2021.

For the six months ended August 31, 2022, we recognized other income of zero compared to $22,243 for the corresponding period in 2021.

No other expenses incurred during the three months and six months periods ended August 31, 2022 and 2021.

Net income (Loss)

For the three months ended August 31, 2022, we recognized a net loss of $ 14,104 compared to the net income of $3,667 for the corresponding period in 2020.

For the six months ended August 31, 2022, we recognized a net loss of $ 32,017 compared to the net loss of $17,861 for the corresponding period in 2021.

Liquidity and Capital Resources

Working Capital

	August 31,			February 28,
	2022			2022
Current Assets	$	7,082		$	14,082
Current Liabilities	$	1,207,102		$	1,182,085
Working Capital Deficit	$	(1,200,020	)	$	(1,168,003	)

As of August 31, 2022, the Company had current assets of $7,082, primarily comprising of cash of $3,582, prepaid expenses of $3,500 and current liabilities of $1,207,102, resulting in a working capital deficit of $1,200,020. The Company had limited profitable operation activities and has an accumulated deficit of $3,689,052 as of August 31, 2022. This raises substantial doubt about the Company’s ability to continue as a going concern.

Based on the Company’s current operating plan and global coronavirus pandemic impact, 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 $15,156 in the six months ended August 31, 2022 of $9,517 compared to the net cash provided in operating activities in the six months ended August 31, 2021 of $5,639. The decrease in net cash used in operating activities was primarily the result of a $22,000 shared operating income decrease offset with a decrease of $7,000 in professional fee payment.

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Cash Flows from Investing Activities

We did not generate or use any cash from investing activities during the six months ended August 31, 2022 or 2021.

Cash Flows from Financing Activities

Our cash provided by financing activities decreased from $16,532 for the six months ended August 31, 2021 compared to $9,517 for the six months ended August 31, 2022. In both periods, cash was provided by the way of loans from related parties.

Future Financing

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.

Off Balance Sheet Arrangements

As of August 31, 2022, 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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PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS.

We were not subject to any legal proceedings during the six months ended August 31, 2022, 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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ITEM 6. EXHIBITS

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

EXHIBIT NUMBER		DESCRIPTION
31.1		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
31.2		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
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
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
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 Labels 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).

________

** 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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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.

	JUBILANT FLAME INTERNATIONAL LTD

Date: September 28, 2022	By:	/s/ Yan Li
		Yan Li
		President, Chief Executive Officer (Principal Executive Officer) and Director

Date: September 28, 2022	By:	/s/ Lei Wang
		Lei Wang
		(Principal Financial Officer) and Director