Jubilant Flame International Ltd. JFIL (JFIL)

[stockinvestor01]

That's fine. Good luck to them. Hope it does well. I just don't see it in the financials. The 10K even stated that there is doubt about the Company’s ability to continue as a going concern. You would think they would reduce their mega salaries and stock bonuses. That 10K was not good.

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 February 28, 2018, the Company had a working capital deficit of $841,731. The Company currently has limited profitable trading activities and has an accumulated deficit of $3,115,790 as of February 28, 2018. 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 new business plan in the medical and cosmetics 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. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.