Jubilant Flame International Ltd. JFIL (JFIL)

[ProfitChaser]

8K out today. Shows where the extra shares in the O/S went too. At least now we know where they went and that they are restricted so the float should still be the same. Hopefully the new guy gets this thing moving.

From the 8K

On October 27, 2016, Lei Wang was appointed as interim Chief Financial Officer of the Company. Mr. Wang is a CPA licensed to practice in Texas. His experience includes two and half years public accounting practice and ten years accounting practice at an international chemical industry company and a high education institution Mr. Wang will receive 50,000 common shares with a stock price of $0.05 per share and a par value of $0.001 as part of the compensation.
 

Item 3.02. Unregistered Sales of Equity Securities
 
On October 27, 2016, the Board of Directors of Jubilant Flame International Ltd. (the “Company”) issued 3,000,000 shares of common stock of the Company, par value $0.001, (the “Shares”) to the Company’s President and CEO, Li Yan.  The Shares were issued at $0.05 per share in exchange for part of loan to the company.
 
The shares of common stock described above were not registered under the Securities Act of 1933 and are restricted securities.  The shares were issued pursuant to the registration exemption afforded the Company under Section 4(2) of the Securities Act due to the fact that Li Yan is the Chief Executive Officer and Director of the Company.  Ms. Li acquired these shares for her own accounts. The certificates representing these shares will bear a restricted legend providing that they cannot be sold except pursuant to an effective registration statement or an exemption from registration