0001437749-13-016076.txt : 20131216 0001437749-13-016076.hdr.sgml : 20131216 20131216164257 ACCESSION NUMBER: 0001437749-13-016076 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 12 CONFORMED PERIOD OF REPORT: 20130930 FILED AS OF DATE: 20131216 DATE AS OF CHANGE: 20131216 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Classic Rules Judo Championships, Inc. CENTRAL INDEX KEY: 0001445831 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MEMBERSHIP SPORTS & RECREATION CLUBS [7997] IRS NUMBER: 208424643 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-54953 FILM NUMBER: 131279396 BUSINESS ADDRESS: STREET 1: 100 RESEARCH DRIVE, UNIT 16 CITY: STAMFORD STATE: CT ZIP: 06906 BUSINESS PHONE: 203-327-6665 MAIL ADDRESS: STREET 1: PO BOX 708 CITY: REDDING STATE: CT ZIP: 06896 10-Q/A 1 judoe20131216_10qa.htm FORM 10-Q/A judoe20131216_10qa.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q/A 

 

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended September 30, 2013

 

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE

EXCHANGE ACT

 

Commission File Number: 333-167451

 

CLASSIC RULES JUDO CHAMPIONSHIPS, INC.

(Exact name of registrant as specified in its charter)

 

Delaware

  

20-8424623

(State or other jurisdiction of incorporation or organization)

  

(I.R.S. Employer Identification No.)

 

100 Research Drive, Suite 16

  

  

Stamford, CT

  

06906

(Address of principal executive offices)

  

(Zip Code)

 

Indicate by check mark whether the registrant (1) filed all reports required to be filed by Section 13 or 15(d) of the 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 has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files)  ☒ Yes    ☐ No

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.  See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

 

  

Large accelerated filer ☐

  

  

Accelerated filer  ☐

  

  

Non-accelerated filer ☐   (Do not check if a smaller reporting company)

  

  

Smaller reporting company ☒

  

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act): Yes ☒No   ☐

 

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS

 

Check whether the registrant filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. Yes ☐ No ☐

 

APPLICABLE ONLY TO CORPORATE ISSUERS

 

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date: 14,790,398 shares of common stock as of May 20, 2013.

 

  

 

 
1

 

  

Explanatory Note 

 

Classic Rules Judo Championships, Inc. (the “Company”) is filing this Amendment No.  on Form 10-Q/A (the “Amendment”) to the Company’s quarterly report on Form 10-Q/A for the period ended September 30, 2013 (the “Form 10-Q”), filed with the Securities and Exchange Commission on May 20, 2013 (the “Original Filing Date”), solely to furnish Amended Exhibit 101 to the Form 10-Q/A in accordance with Rule 405 of Regulation S-T. Exhibit 101 consists of the following materials from the Company’s Form 10-Q/A, formatted in XBRL (eXtensible Business Reporting Language):

 

  

101.INS

XBRL INSTANCE DOCUMENTS

  

101.SCH

XBRL TAXONOMY EXTENSION SCHEMA

  

101.CAL

XBRL TAXONOMY EXTENSION CALCULATION LINKBASE

  

101.DEF

XBRL TAXONOMY EXTENSION DEFINITION LINKBASE

  

101.LAB

XBRL TAXONOMY EXTENSION LABEL LINKBASE

  

101.PRE

XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE

 

No other changes have been made to the Form 10-Q/A. This Amendment speaks as of the Original Filing Date, does not reflect events that may have occurred subsequent to the Original Filing Date, and does not modify or update in any way disclosures made in the Form 10-Q/A.

 

Pursuant to Rule 406T of Regulation S-T, the interactive data files attached as Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

 

 

 
2

 

  

None

 

Item 6.   Exhibits  
     
Exhibit 21.1 Direct and Indirect subsidiaries of Classic Rules Judo Championships, Inc.
     

Exhibit

31.1

Certification of the Principal Executive Officer Pursuant to Rule 13A-14(a) of the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 

Exhibit

31.2

Certification of the Principal Financial Officer Pursuant to Rule 13A-14(a) of the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 

Exhibit

32.1

Certification of the Principal Executive Officer Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

 

Exhibit

32.2

Certification of the Principal Financial Officer Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

 

SIGNATURES

 

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Dated: December 16, 2013

Classic Rules Judo Championships, Inc.

  

  

  

  

  

By: /s/ Chris Angle

  

Chris Angle, Principal Executive Officer, Principal Financial Officer, and Principal Accounting Officer

 

 

 
3

 

 

EXHIBIT INDEX

 

21.1 Direct and Indirect subsidiaries of Classic Rules Judo Championships, Inc.
   

31.1

Certification of the Principal Executive Officer Pursuant to Rule 13A-14(a) of the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 

31.2

Certification of the Principal Financial Officer Pursuant to Rule 13A-14(a) of the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

 

32.1

Certification of the Principal 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 Principal 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

XBRL INSTANCE DOCUMENTS

101.SCH

XBRL TAXONOMY EXTENSION SCHEMA

101.CAL

XBRL TAXONOMY EXTENSION CALCULATION LINKBASE

101.DEF

XBRL TAXONOMY EXTENSION DEFINITION LINKBASE

101.LAB

XBRL TAXONOMY EXTENSION LABEL LINKBASE

101.PRE

XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE

 

 

4

 

 

EX-21 2 ex21-1.htm EXHIBIT 21.1 f10q_211-judo.htm

Exhibit 21.1

 

 

Direct and Indirect Subsidiaries of Classic Rules Judo Championships, Inc.

 

 

Company Name

 

State of Incorporation

  

 

  

Classic Rules World Judo Championships, Inc.

 

Connecticut

 

 

 

EX-31 3 ex31-1.htm EXHIBIT 31.1 f10q_311-judo.htm

Exhibit 31.1 

 

CERTIFICATION PURSUANT TO RULE 13A-14(a) OF THE SECURITIES

EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO SECTION

302 OF THE SARBANES OXLEY ACT OF 2002

  

I, Chris Angle, certify that: 

 

1.

I have reviewed this quarterly report on Form 10-Q/A of Classic Rules Judo Championships, Inc. for the three months ended September 30, 2013;

 

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.

The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a -15(f) and 15d-15(f)) for the registrant and have:

 

  

a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

  

  

b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

  

  

c)

Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

  

d)

Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

 

5.

The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

 

  

a)

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

 

  

b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 

Date: December 16, 2013

 

/s/ Chris Angle                                  

Chris Angle

Chief Executive Officer

and Chairman of the Board

EX-31 4 ex31-2.htm EXHIBIT 31.2 f10q_312-judo.htm

Exhibit 31.2

  

CERTIFICATION PURSUANT TO RULE 13A-14(a) OF THE SECURITIES

EXCHANGE ACT OF 1934, AS ADOPTED PURSUANT TO SECTION

302 OF THE SARBANES OXLEY ACT OF 2002

  

I, Chris Angle, certify that:
 

1.

I have reviewed this quarterly report on Form 10-Q/A of Classic Rules Judo Championships, Inc. for the three months ended September 30, 2013;

 

2.

Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.

The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a -15(f) and 15d-15(f)) for the registrant and have:

 

  

a)

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

  

  

b)

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

  

  

c)

Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

  

d)

Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

 

5.

The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

 

  

a)

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

 

  

b)

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

 

Date: December 16, 2013

 

/s/ Chris Angle                        

Chris Angle

Chief Financial Officer

and Director

EX-32 5 ex32-1.htm EXHIBIT 32.1 f10q_321-judo.htm

Exhibit 32.1

 

CLASSIC RULES JUDO CHAMPIONSHIPS, INC.

 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUNT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

 

In connection with the Quarterly Report of Classic Rules Judo Championships, Inc. (the "Company") on Form 10-Q/A for the three months ended September 30, 2013 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Chris Angle, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. ss. 1350, as added by ss. 906 of the Sarbanes-Oxley Act of 2002, that:

 

1.           The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

2.           The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company as of and for the period covered by the Report.

 

 

By: /s/ Chris Angle                         

Chris Angle

Chief Executive Officer

and Chairman of the Board

 

December 16, 2013

 

A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act of 2002 ("Section 906"), or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Classic Rules Judo Championships, Inc., and will be retained by Classic Rules Judo Championships, Inc. and furnished to the Securities and Exchange Commission or its staff upon request.

 

EX-32 6 ex32-2.htm EXHIBIT 32.2 f10q_322-judo.htm

Exhibit 32.2

 

CLASSIC RULES JUDO CHAMPIONSHIPS, INC.

 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUNT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

 

In connection with the Quarterly Report of Classic Rules Judo Championships, Inc. (the "Company") on Form 10-Q/A for the three months ended September 30, 2013 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Chris Angle, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. ss. 1350, as added by ss. 906 of the Sarbanes-Oxley Act of 2002, that:

 

1.           The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

2.           The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company as of and for the period covered by the Report.

 

 

By: /s/ Chris Angle                       

Chris Angle

Chief Financial Officer

And Director

 

December 16, 2013

 

A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act of 2002 ("Section 906"), or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to Classic Rules Judo Championships, Inc., and will be retained by Classic Rules Judo Championships, Inc. and furnished to the Securities and Exchange Commission or its staff upon request

 

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AND NATURE OF BUSINESS</b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA942"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Classic Rules Judo Championships, Inc. was incorporated in the State of Delaware on November 16, 2005 under the name Blue Ribbon Pyrocool, Inc. (&#8220;Blue Ribbon&#8221;). Blue Ribbon changed its name to Classic Rules Judo Championships, Inc. ("Classic Rules") on July 15, 2008. Classic Rules formed a subsidiary in the State of Connecticut on August 13, 2008 named Classic Rules World Judo Championships, Inc. to develop an annual judo championship tournament. Collectively the entities are referred to as &#8220;the Company.&#8221; Clients pay a fee and the Company posts their entry on the Company&#8217;s website. The Company prepares an historical competition evaluation of the participant and places that participant to an appropriate position on the elimination chart in order to allow the highest probability of the most renowned athletes to meet late in the competition preferably in the quarter-finals, the semi-finals, or finals. To date, the Company has held two tournaments.</font> </p><br/> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA944"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b>NOTE B &#8211; GOING CONCERN</b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA946"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has minimal revenues since inception, has a deficit accumulated during the development stage of $103,345, and has experienced negative cash flows from operations. These circumstances raise substantial doubt about the Company&#8217;s ability to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA948"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Management plans to specialize in utilizing internet media and word of mouth to market and generate its leads for its future business of conducting tournaments. The Company needs to raise additional capital in order to fully develop its business plan. Failure to raise adequate capital and generate adequate revenues could result in the Company having to curtail or cease operations. Additionally, even if the Company does raise sufficient capital to support its operating expenses and generate adequate revenues, there can be no assurance that the revenue will be sufficient to enable it to develop business to a level where it will generate profits and adequate cash flows from operations.</font> </p><br/> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA950"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b>NOTE C &#8211; SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</b></font> </p><br/><p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA952"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Unaudited Interim Financial Statements</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA954"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The accompanying unaudited interim consolidated financial statements as of September 30, 2013, and for the three and nine month periods ended September 30, 2013 and 2012 have been prepared in accordance with accounting principles generally accepted for interim financial statement presentation and in accordance with the instructions to Form 10-Q. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statement presentation. They should be read in conjunction with the Company&#8217;s annual report on Form 10-K for the year ended December 31, 2012. In the opinion of management, the financial statements contain all adjustments (consisting only of normal recurring accruals) necessary to fairly present the financial position as of September 30, 2013 and the results of operations for the three and nine month periods ended September 30, 2013 and 2012 and cash flows for the nine months ended September 30, 2013 and 2012. The results of operations for the nine months ended September 30, 2013 are not necessarily indicative of the results to be expected for the full year.</font> </p><br/><p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA966"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Principles of Consolidation</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA968"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The consolidated financial statements include the accounts of Classic Rules Judo Championships, Inc. and its wholly owned subsidiary Classic Rules World Judo Championships, Inc. All significant inter-company balances and transactions have been eliminated in consolidation.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA970"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Use of Estimates</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA972"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">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 revenue and expenses during the reporting period. Actual results could differ from those estimates.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA974"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Cash and Cash Equivalents</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA976"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The Company had no cash equivalents at September 30, 2013 or December 31, 2012.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA978"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Fair Value of Financial Instruments:</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA980"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Codification (&#8220;ASC&#8221;) Topic No. 825, &#8220;Financial Instruments&#8221; (&#8220;Topic No. 825&#8221;) requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. Topic No. 825 defines fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. At September 30, 2013 and December 31, 2012 the carrying value of the Company&#8217;s cash, stock subscription receivable, accounts payable, accrued expenses, and advance from officer approximates fair value due to the short-term nature of these financial instruments.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA982"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Revenue Recognition</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA984"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The Company recognizes revenue from participant entry fees and spectator fees upon collection since it is the Company&#8217;s policy to not issue refunds.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA986"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Equity-Based Compensation</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA988"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The Company accounts for equity-based compensation transactions with employees under the provisions of ASC Topic No. 718, &#8220;Compensation, Stock Compensation&#8221; (&#8220;Topic No. 718&#8221;). Topic No. 718 requires the recognition of the fair value of equity-based compensation in net earnings. The fair value of common stock issued for compensation is measured at the market price on the date of grant. The fair value of the Company&#8217;s equity instruments, other than common stock, is estimated using a Black-Scholes option valuation model. This model requires the input of highly subjective assumptions and elections including expected stock price volatility and the estimated life of each award. In addition, the calculation of equity-based compensation costs requires that we estimate the number of awards that will be forfeited during the vesting period. The fair value of equity-based awards granted to employees is amortized over the vesting period of the award and the Company elects to use the straight-line method for awards granted after adoption of Topic No. 718.</font> </p><br/><p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1000"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Equity-Based Compensation (Continued)</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1002"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The Company accounts for equity-based transactions with non-employees under provisions of ASC Topic No. 505-50, &#8220;Equity-Based Payments to Non-Employees&#8221; (&#8220;Topic No. 505-50&#8221;). Topic No. 505-50 establishes that equity-based payment transactions with non-employees shall be measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. The fair value of common stock issued for payments to non-employees is measured at the market price on the date of grant. The fair value of equity instruments, other than common stock, is estimated using the Black-Scholes option valuation model. In general, the Company recognizes an asset or expense in the same manner as if it was to pay cash for the goods or services instead of paying with or using the equity instrument.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id="PARA1004"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Advertising Expense</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id="PARA1006"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The Company expenses advertising costs as incurred.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1008"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Net Loss Per Common Share</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1010"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The Company computes basic net loss per common share by dividing the net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding for the period. 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The liability method measures deferred income taxes by applying enacted statutory rates in effect at the balance sheet date to the differences between the tax basis of assets and liabilities and their reported amounts on the financial statements. The resulting deferred tax assets or liabilities are adjusted to reflect changes in tax laws as they occur. A valuation allowance is provided when it is more likely than not that a deferred tax asset will not be realized. At September 30, 2013 and December 31, 2012, the entire deferred tax asset, which arises from our net operating losses, has been fully reserved because management has determined that it is not more likely than not that the net operating loss carry forwards will be realized in the future.</font><font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&#160;</font> </p><br/><p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1027"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Income Taxes (Continued)</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1029"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The Company recognizes and measures uncertain tax positions and records tax benefits when it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company recognizes interest and penalties as a component of income tax expense. At September 30, 2013 and 2012 the Company did not have any unrecognized tax benefits and has not accrued any liability for the payment of tax related interest or penalties. The Company currently has no federal or state tax examinations in progress nor has it had any federal or state tax examinations since inception.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1031"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Development Stage Enterprise</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1033"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The Company is a development stage enterprise, as defined in ASC Topic No. 915 &#8220;Development Stage Entities&#8221;. To date, the Company&#8217;s planned principal operations have not fully commenced.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1035"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Subsequent Events</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1037"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">In accordance with Topic No. 855 &#8220;Subsequent Events&#8221; the Company evaluated subsequent events, which are events or transactions that occurred after September 30, 2013 through the date of the issuance of the accompanying consolidated financial statements.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1039"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Recently Issued Accounting Pronouncements</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1041"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Management does not believe that any recently issued but not yet effective accounting pronouncements, if adopted, would have an effect on the accompanying consolidated financial statements.</font> </p><br/> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA952"><font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Unaudited Interim Financial Statements</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA954"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The accompanying unaudited interim consolidated financial statements as of September 30, 2013, and for the three and nine month periods ended September 30, 2013 and 2012 have been prepared in accordance with accounting principles generally accepted for interim financial statement presentation and in accordance with the instructions to Form 10-Q. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statement presentation. They should be read in conjunction with the Company&#8217;s annual report on Form 10-K for the year ended December 31, 2012. In the opinion of management, the financial statements contain all adjustments (consisting only of normal recurring accruals) necessary to fairly present the financial position as of September 30, 2013 and the results of operations for the three and nine month periods ended September 30, 2013 and 2012 and cash flows for the nine months ended September 30, 2013 and 2012. The results of operations for the nine months ended September 30, 2013 are not necessarily indicative of the results to be expected for the full year.</font></p> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA966"><font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Principles of Consolidation</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA968"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The consolidated financial statements include the accounts of Classic Rules Judo Championships, Inc. and its wholly owned subsidiary Classic Rules World Judo Championships, Inc. All significant inter-company balances and transactions have been eliminated in consolidation.</font></p> <p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA970"><font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Use of Estimates</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA972"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">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 revenue and expenses during the reporting period. Actual results could differ from those estimates.</font></p> <p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA974"><font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Cash and Cash Equivalents</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA976"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The Company had no cash equivalents at September 30, 2013 or December 31, 2012.</font></p> <p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA978"><font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Fair Value of Financial Instruments:</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA980"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting Standards Codification (&#8220;ASC&#8221;) Topic No. 825, &#8220;Financial Instruments&#8221; (&#8220;Topic No. 825&#8221;) requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. Topic No. 825 defines fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. At September 30, 2013 and December 31, 2012 the carrying value of the Company&#8217;s cash, stock subscription receivable, accounts payable, accrued expenses, and advance from officer approximates fair value due to the short-term nature of these financial instruments.</font></p> <p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA982"><font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Revenue Recognition</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA984"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The Company recognizes revenue from participant entry fees and spectator fees upon collection since it is the Company&#8217;s policy to not issue refunds.</font></p> <p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA986"><font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Equity-Based Compensation</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA988"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The Company accounts for equity-based compensation transactions with employees under the provisions of ASC Topic No. 718, &#8220;Compensation, Stock Compensation&#8221; (&#8220;Topic No. 718&#8221;). Topic No. 718 requires the recognition of the fair value of equity-based compensation in net earnings. The fair value of common stock issued for compensation is measured at the market price on the date of grant. The fair value of the Company&#8217;s equity instruments, other than common stock, is estimated using a Black-Scholes option valuation model. This model requires the input of highly subjective assumptions and elections including expected stock price volatility and the estimated life of each award. In addition, the calculation of equity-based compensation costs requires that we estimate the number of awards that will be forfeited during the vesting period. The fair value of equity-based awards granted to employees is amortized over the vesting period of the award and the Company elects to use the straight-line method for awards granted after adoption of Topic No. 718.</font> </p><br/><p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1000"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Equity-Based Compensation (Continued)</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1002"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The Company accounts for equity-based transactions with non-employees under provisions of ASC Topic No. 505-50, &#8220;Equity-Based Payments to Non-Employees&#8221; (&#8220;Topic No. 505-50&#8221;). Topic No. 505-50 establishes that equity-based payment transactions with non-employees shall be measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. The fair value of common stock issued for payments to non-employees is measured at the market price on the date of grant. The fair value of equity instruments, other than common stock, is estimated using the Black-Scholes option valuation model. In general, the Company recognizes an asset or expense in the same manner as if it was to pay cash for the goods or services instead of paying with or using the equity instrument.</font></p> <p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id="PARA1004"><font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Advertising Expense</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; TEXT-INDENT: 36pt; MARGIN: 0pt" id="PARA1006"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The Company expenses advertising costs as incurred.</font></p> <p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1008"><font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Net Loss Per Common Share</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1010"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The Company computes basic net loss per common share by dividing the net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted loss per share is computed using the weighted average number of shares of common stock and dilutive common equivalent shares outstanding during the year. Common equivalent shares from stock options and other common stock equivalents are excluded from the computation when their effect is anti-dilutive. There were no common stock equivalents outstanding at September 30, 2013 and December 31, 2012.</font></p> <p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1012"><font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Income Taxes</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1014"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The Company accounts for income taxes in accordance with ASC Topic No. 740, Income Taxes (&#8220;Topic No. 740&#8221;) which requires the use of the liability method of accounting for income taxes. The liability method measures deferred income taxes by applying enacted statutory rates in effect at the balance sheet date to the differences between the tax basis of assets and liabilities and their reported amounts on the financial statements. The resulting deferred tax assets or liabilities are adjusted to reflect changes in tax laws as they occur. A valuation allowance is provided when it is more likely than not that a deferred tax asset will not be realized. At September 30, 2013 and December 31, 2012, the entire deferred tax asset, which arises from our net operating losses, has been fully reserved because management has determined that it is not more likely than not that the net operating loss carry forwards will be realized in the future.</font><font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&#160;</font> </p><br/><p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1027"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Income Taxes (Continued)</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1029"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The Company recognizes and measures uncertain tax positions and records tax benefits when it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company recognizes interest and penalties as a component of income tax expense. At September 30, 2013 and 2012 the Company did not have any unrecognized tax benefits and has not accrued any liability for the payment of tax related interest or penalties. The Company currently has no federal or state tax examinations in progress nor has it had any federal or state tax examinations since inception.</font></p> <p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1031"><font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Development Stage Enterprise</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1033"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The Company is a development stage enterprise, as defined in ASC Topic No. 915 &#8220;Development Stage Entities&#8221;. To date, the Company&#8217;s planned principal operations have not fully commenced.</font></p> <p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1035"><font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Subsequent Events</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1037"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">In accordance with Topic No. 855 &#8220;Subsequent Events&#8221; the Company evaluated subsequent events, which are events or transactions that occurred after September 30, 2013 through the date of the issuance of the accompanying consolidated financial statements.</font></p> <p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1039"><font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Recently Issued Accounting Pronouncements</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1041"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Management does not believe that any recently issued but not yet effective accounting pronouncements, if adopted, would have an effect on the accompanying consolidated financial statements.</font></p> <p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1043"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b>NOTE D &#8211; STOCKHOLDERS&#8217; DEFICIT</b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1045"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Preferred Stock</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1047"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The Company is authorized to issue 50,000,000 shares of preferred stock with a par value of $0.001 per share. The Company has designated that these shares of preferred stock have five times voting capacity of the common stock but do not have any conversion or other rights or privileges. The Company does not have any additional Series of preferred stock. The Company has issued 1,250,000 preferred shares to the two former officers of the Company.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1049"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On April 1, 2013 the Company, Mr. Lapkin and Mr. Gruenbaum cancelled the 1,250,000 outstanding shares of preferred stock held by Mr. Lapkin and Mr. Gruenbaum, 625,000 shares held by each. No consideration was paid by the Company for the return and cancellation of the shares.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1061"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b><u>Common Stock</u></b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1063"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The Company is authorized to issue 100,000,000 shares of common stock with a par value of $0.001 per share. At September 30, 2013 there are 16,388,310 shares of common stock issued and outstanding, which includes 562,584 subscribed and fully paid for shares, which have been authorized for issuance, but have yet to be issued.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1065"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">In July 2008, the Company undertook a private offering of approximately 6,000,000 shares of common stock. The stock was offered with a price of $0.001 per share. The private offering was made to Desmond Capital, Inc. (&#8220;Desmond&#8221;) through a subscription agreement. Desmond purchased 5,223,050 of the offered shares for a total of $5,373 in cash. Desmond&#8217;s shares were purchased with the intention of holding the securities for investment purposes, with no intention of dividing or allowing others to participate in this investment or to sell the securities for at least one year in the event that the Company becomes registered with the Securities and Exchange Commission.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1067"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On July 15, 2008, the Company issued 1,160,678 shares of common stock to its officer and director, Chris Angle. The shares were issued to Mr. Angle as compensation for services rendered as the officer and director of the Company. As the Company had minimal assets and operations at the date of issuance, the shares were valued at their par value of $0.001 per share and $1,161 was recorded as stock-based compensation.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1069"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On July 15, 2008, the Company issued 1,160,678 shares of common stock to a consultant, Nathan Lapkin. The shares were issued to Mr. Lapkin as compensation for his accounting services rendered to the Company.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1071"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On July 15, 2008, the Company issued 1,160,678 shares of common stock to a consultant, Jerry Gruenbaum, Esq. The shares were issued to Mr. Gruenbaum as compensation for his legal services rendered to the Company.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1073"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The shares issued to Messrs. Gruenbaum and Lapkin were for consulting services and were valued at the fair value of the services provided. Due to the lack of assets and operations of the Company and the lack of a market for the Company&#8217;s stock, the Company determined that the fair value of the services provided were more reliably measurable. The Company obtained invoices from Messrs. Gruenbaum and Lapkin for the services provided. Mr. Gruenbaum provided legal services valued at $5,805 and Mr. Lapkin provided accounting and consulting services valued at $6,000. The Company issued both individuals the same number of shares for the services rendered. After reviewing the services provided, the Company noted that there was a $195 difference in the value of the services provided by these two individuals. The Company concluded that this difference was insignificant and did not require any adjustment. See Note F.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1075"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On March 29, 2010, the Company sold 825,826 shares of common stock at $0.006 per share to an investor under a stock subscription agreement and received proceeds of $5,000.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1077"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On August 18, 2010, the Company sold 185,079 shares of common stock at $0.009 per share to its president under a stock subscription agreement and received proceeds of $1,750.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1092"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On March 17, 2011 the Company sold 161,415 shares of common stock at $0.009 per share to the spouse of its president under a stock subscription agreement and received proceeds of $1,500.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1094"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On March 25, 2011 the Company sold 109,224 shares of common stock at $0.009 per share to an investor under a stock subscription agreement and received proceeds of $1,000.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1096"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On November 15, 2011 the Company sold 430,107 shares of common stock at $0.009 per share to an investor under a stock subscription agreement and received proceeds of $4,000.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1098"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On November 21, 2011 the Company sold 134,408 shares of common stock at $0.009 per share to an investor under a stock subscription agreement and received proceeds of $1,250.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1100"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On February 8, 2012 the Company sold 105,305 shares of common stock at $0.009 per share to an investor under a stock subscription agreement and received proceeds of $900.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1102"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On February 8, 2012, the Company sold 104,366 shares of common stock at $0.009 per share to the spouse of its president under a stock subscription agreement and received proceeds of $900.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1104"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On February 8, 2012 the holder of the convertible loan payable converted his $5,000 loan into 590,293 newly issued shares of common stock in the Company at $0.008 per share.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1106"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On February 14, 2012 the Company sold 315,018 shares of common stock at $0.008 per share to an investor under a stock subscription agreement and received proceeds of $2,500.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1108"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On February 14, 2012, the Company sold 307,271 shares of common stock at $0.008 per share to the spouse of its president under a stock subscription agreement and received proceeds of $2,500.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1110"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On March 17, 2012, the Company sold 361,398 shares of common stock at $0.008 per share to two investors under stock subscription agreements and received proceeds of $2,750.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1112"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On March 17, 2012, the Company sold 226,025 shares of common stock at $0.008 per share to the spouse of its president under a stock subscription agreement and received proceeds of $1,750.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1114"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On August 9, 2012, the Company sold 204,088 shares of common stock at $0.007 per share to the spouse of its president under a stock subscription agreement and received proceeds of $1,500.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1116"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On August 9, 2012, the Company sold 340,147 shares of common stock at $0.007 per share to two investors under stock subscription agreements and received proceeds of $2,500.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1131"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On March 14, 2013 the Company entered into a stock subscription agreement with a company owned by the Company&#8217;s CEO, Mr. Angle, for the issuance of 640,292 shares of the Company&#8217;s common stock at $0.007 per share or $4,525. Proceeds of $4,025 have been received. The advance from officer in the amount of $500 has been applied to the amount due leaving a stock subscription receivable of $0 at September 30, 2013.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1133"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On May 24, 2013 the Company entered into a stock subscription agreement with a company owned by Mr. Angle, the Company&#8217;s CEO for the issuance of 1,035,328 shares of the Company&#8217;s common stock at $0.007 per share or $7,000.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1135"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On August 7, 2013 the Company received $1,250 in payment pursuant to a stock subscription agreement with M. Timofejeva for the issuance of 197,822 shares of the Company&#8217;s common stock at $0.006 per share.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1137"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On August 7, 2013 the Company received $1,250 in payment pursuant to a stock subscription agreement with V. Stolere (the spouse of the Company&#8217;s President) for the issuance of 197,822 shares of the Company&#8217;s common stock at $0.006 per share.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1139"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On September 10, 2013 the Company received $600 in payment pursuant to a stock subscription agreement with the Stamford Leaning Center (a company owned by the Company&#8217;s President) for the issuance of 100,164 shares of the Company&#8217;s common stock at $0.006 per share.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1141"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On September 10, 2013 the Company received $400 in payment pursuant to a stock subscription agreement with V. Stolere (the spouse of the Company&#8217;s President) for the issuance of 66,776 shares of the Company&#8217;s common stock at $0.006 per share.</font> </p><br/> five 1250000 1250000 625000 625000 562584 6000000 0.001 5223050 5373 1160678 0.001 1161 1160678 1160678 5805 6000 195 825826 0.006 5000 185079 0.009 1750 161415 0.009 1500 109224 0.009 1000 430107 0.009 4000 134408 0.009 1250 105305 0.009 900 104366 0.009 900 5000 590293 0.008 315018 0.008 2500 307271 0.008 2500 361398 0.008 2750 226025 0.008 1750 204088 0.007 1500 340147 0.007 2500 640292 0.007 4525 4025 500 0 1035328 0.007 7000 1250 197822 0.006 1250 197822 0.006 600 100164 0.006 400 66776 0.006 <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1143"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b>NOTE E &#8211; INCOME TAXES</b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1145"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">The income tax provision differs from the amount computed by applying the U.S. federal and state statutory corporate income tax rates as follows:</font> </p><br/><table style="TEXT-INDENT: 0px; WIDTH: 85%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 15%" id="TBL1172" border="0" cellspacing="0" cellpadding="0"> <tr id="TBL1172.finRow.1"> <td style="TEXT-ALIGN: center; WIDTH: 62%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="TEXT-ALIGN: center; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.1.lead.D3"> &#160; </td> <td style="TEXT-ALIGN: center; WIDTH: 20%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.1.amt.D3" colspan="6"> <p style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1147"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Nine Months Ended</font> </p> </td> <td style="TEXT-ALIGN: center; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.1.trail.D3"> &#160; </td> </tr> <tr id="TBL1172.finRow.2"> <td style="TEXT-ALIGN: center; WIDTH: 62%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="TEXT-ALIGN: center; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.2.lead.D3"> &#160; </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; WIDTH: 20%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.2.amt.D3" colspan="6"> <p style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1148"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">September 30,</font> </p> </td> <td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: center; PADDING-BOTTOM: 1px; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.2.trail.D3"> &#160; </td> </tr> <tr id="TBL1172.finRow.3"> <td style="WIDTH: 62%; FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="TEXT-ALIGN: center; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.3.lead.D2"> &#160; </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.3.amt.D2" colspan="2"> <p style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1149"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">2013</font> </p> </td> <td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1px; WIDTH: 2%; 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</td> <td style="WIDTH: 1%" id="TBL1172.finRow.4.lead.B2"> &#160; </td> <td style="WIDTH: 1%" id="TBL1172.finRow.4.symb.B2"> &#160; </td> <td style="WIDTH: 15%" id="TBL1172.finRow.4.amt.B2"> &#160; </td> <td style="WIDTH: 2%" id="TBL1172.finRow.4.trail.B2"> &#160; </td> <td style="WIDTH: 1%" id="TBL1172.finRow.4.lead.B3"> &#160; </td> <td style="WIDTH: 1%" id="TBL1172.finRow.4.symb.B3"> &#160; </td> <td style="WIDTH: 15%" id="TBL1172.finRow.4.amt.B3"> &#160; </td> <td style="WIDTH: 2%" id="TBL1172.finRow.4.trail.B3"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff" id="TBL1172.finRow.5"> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 9pt; WIDTH: 62%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1151"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">U.S Statutory Corporate Income Tax Rate</font> </p> </td> <td style="TEXT-ALIGN: right; 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BACKGROUND-COLOR: #ffffff; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.6.trail.2" nowrap="nowrap"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1159"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">)%</font> </p> </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.6.lead.3"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.6.symb.3"> &#160; </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.6.amt.3"> (7.0 </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.6.trail.3" nowrap="nowrap"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1161"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">%)</font> </p> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff" id="TBL1172.finRow.7"> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 9pt; WIDTH: 62%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1162"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Change in Valuation Allowance on Deferred Tax Asset</font> </p> </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.7.lead.2"> &#160; </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.7.symb.2"> &#160; </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.7.amt.2"> 41.0 </td> <td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.7.trail.2" nowrap="nowrap"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1164"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">%</font> </p> </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.7.lead.3"> &#160; </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.7.symb.3"> &#160; </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.7.amt.3"> 41.0 </td> <td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.7.trail.3" nowrap="nowrap"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1166"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">%</font> </p> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff" id="TBL1172.finRow.8"> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 62%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1167"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Effective Rate</font> </p> </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.8.lead.2"> &#160; </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.8.symb.2"> &#160; </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.8.amt.2"> - </td> <td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; PADDING-BOTTOM: 3px; BACKGROUND-COLOR: #ffffff; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.8.trail.2" nowrap="nowrap"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1169"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">%</font> </p> </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.8.lead.3"> &#160; </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.8.symb.3"> &#160; </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.8.amt.3"> - </td> <td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; PADDING-BOTTOM: 3px; BACKGROUND-COLOR: #ffffff; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.8.trail.3" nowrap="nowrap"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1171"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">%</font> </p> </td> </tr> </table><br/><p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1186"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Net deferred tax assets and liabilities consist of the following components:</font> </p><br/><table style="TEXT-INDENT: 0px; WIDTH: 85%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 15%" id="TBL1208" border="0" cellspacing="0" cellpadding="0"> <tr id="TBL1208.finRow.1"> <td style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"> &#160; </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.1.lead.D2"> &#160; </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.1.amt.D2" colspan="2"> <p style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1188"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">September 30,</font> </p> </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.1.trail.D2"> &#160; </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.1.lead.D3"> &#160; </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.1.amt.D3" colspan="2"> <p style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1189"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">December 31</font> </p> </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.1.trail.D3"> &#160; </td> </tr> <tr id="TBL1208.finRow.2"> <td style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"> &#160; </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.2.lead.D2"> &#160; </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.2.amt.D2" colspan="2"> <p style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1190"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">2013</font> </p> </td> <td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.2.trail.D2"> &#160; </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.2.lead.D3"> &#160; </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.2.amt.D3" colspan="2"> <p style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1191"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">2012</font> </p> </td> <td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.2.trail.D3"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff" id="TBL1208.finRow.3"> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 64%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1192"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Deferred tax assets:</font> </p> </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.3.lead.B2"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.3.symb.B2"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.3.amt.B2"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.3.trail.B2"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.3.lead.B3"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.3.symb.B3"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.3.amt.B3"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.3.trail.B3"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff" id="TBL1208.finRow.4"> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1193"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Net operating loss carry-forward</font> </p> </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.4.lead.2"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.4.symb.2"> $ </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.4.amt.2"> 42,211 </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.4.trail.2" nowrap="nowrap"> &#160; </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.4.lead.3"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.4.symb.3"> $ </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.4.amt.3"> 40,499 </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.4.trail.3" nowrap="nowrap"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff" id="TBL1208.finRow.5"> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1198"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Valuation Allowance</font> </p> </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.5.lead.2"> &#160; </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.5.symb.2"> &#160; </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.5.amt.2"> (42,211 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.5.trail.2" nowrap="nowrap"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1200"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">)</font> </p> </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.5.lead.3"> &#160; </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.5.symb.3"> &#160; </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.5.amt.3"> (40,499 </td> <td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1px; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.5.trail.3" nowrap="nowrap"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1202"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">)</font> </p> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff" id="TBL1208.finRow.6"> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1203"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Net Deferred tax assets</font> </p> </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.6.lead.2"> &#160; </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.6.symb.2"> $ </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.6.amt.2"> - </td> <td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; PADDING-BOTTOM: 3px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.6.trail.2" nowrap="nowrap"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.6.lead.3"> &#160; </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.6.symb.3"> $ </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.6.amt.3"> - </td> <td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; PADDING-BOTTOM: 3px; 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</td> <td style="TEXT-ALIGN: center; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.1.lead.D3"> &#160; </td> <td style="TEXT-ALIGN: center; WIDTH: 20%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.1.amt.D3" colspan="6"> <p style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1147"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Nine Months Ended</font> </p> </td> <td style="TEXT-ALIGN: center; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.1.trail.D3"> &#160; </td> </tr> <tr id="TBL1172.finRow.2"> <td style="TEXT-ALIGN: center; WIDTH: 62%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom"> &#160; </td> <td style="TEXT-ALIGN: center; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; 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</td> <td style="WIDTH: 2%" id="TBL1172.finRow.4.trail.B3"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff" id="TBL1172.finRow.5"> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 9pt; WIDTH: 62%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1151"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">U.S Statutory Corporate Income Tax Rate</font> </p> </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.5.lead.2"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.5.symb.2"> &#160; </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.5.amt.2"> (34.0 </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.5.trail.2" nowrap="nowrap"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1153"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">)%</font> </p> </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.5.lead.3"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.5.symb.3"> &#160; </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.5.amt.3"> (34.0 </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.5.trail.3" nowrap="nowrap"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1156"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">%)</font> </p> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff" id="TBL1172.finRow.6"> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; TEXT-INDENT: 9pt; WIDTH: 62%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1157"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">State Income Tax</font> </p> </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.6.lead.2"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.6.symb.2"> &#160; </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.6.amt.2"> (7.0 </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.6.trail.2" nowrap="nowrap"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1159"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">)%</font> </p> </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.6.lead.3"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.6.symb.3"> &#160; </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.6.amt.3"> (7.0 </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.6.trail.3" nowrap="nowrap"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1161"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">%)</font> </p> </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff" id="TBL1172.finRow.7"> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; TEXT-INDENT: 9pt; WIDTH: 62%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1162"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Change in Valuation Allowance on Deferred Tax Asset</font> </p> </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.7.lead.2"> &#160; </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.7.symb.2"> &#160; </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.7.amt.2"> 41.0 </td> <td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.7.trail.2" nowrap="nowrap"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1164"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">%</font> </p> </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.7.lead.3"> &#160; </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.7.symb.3"> &#160; </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: right; BACKGROUND-COLOR: #cceeff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.7.amt.3"> 41.0 </td> <td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; PADDING-BOTTOM: 1px; BACKGROUND-COLOR: #cceeff; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.7.trail.3" nowrap="nowrap"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1166"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">%</font> </p> </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff" id="TBL1172.finRow.8"> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 62%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1167"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Effective Rate</font> </p> </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.8.lead.2"> &#160; </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.8.symb.2"> &#160; </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.8.amt.2"> - </td> <td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; PADDING-BOTTOM: 3px; BACKGROUND-COLOR: #ffffff; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.8.trail.2" nowrap="nowrap"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1169"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">%</font> </p> </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.8.lead.3"> &#160; </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.8.symb.3"> &#160; </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.8.amt.3"> - </td> <td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; PADDING-BOTTOM: 3px; BACKGROUND-COLOR: #ffffff; WIDTH: 2%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1172.finRow.8.trail.3" nowrap="nowrap"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1171"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">%</font> </p> </td> </tr> </table> -0.340 -0.340 -0.070 -0.070 0.410 0.410 0 0 <table style="TEXT-INDENT: 0px; WIDTH: 85%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 36pt; FONT-SIZE: 10pt; MARGIN-RIGHT: 15%" id="TBL1208" border="0" cellspacing="0" cellpadding="0"> <tr id="TBL1208.finRow.1"> <td style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"> &#160; </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.1.lead.D2"> &#160; </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.1.amt.D2" colspan="2"> <p style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1188"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">September 30,</font> </p> </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.1.trail.D2"> &#160; </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.1.lead.D3"> &#160; </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.1.amt.D3" colspan="2"> <p style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1189"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">December 31</font> </p> </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.1.trail.D3"> &#160; </td> </tr> <tr id="TBL1208.finRow.2"> <td style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"> &#160; </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.2.lead.D2"> &#160; </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.2.amt.D2" colspan="2"> <p style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1190"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">2013</font> </p> </td> <td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.2.trail.D2"> &#160; </td> <td style="TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.2.lead.D3"> &#160; </td> <td style="BORDER-BOTTOM: #000000 1px solid; TEXT-ALIGN: center; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.2.amt.D3" colspan="2"> <p style="TEXT-ALIGN: center; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1191"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">2012</font> </p> </td> <td style="TEXT-ALIGN: center; PADDING-BOTTOM: 1px; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.2.trail.D3"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff" id="TBL1208.finRow.3"> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; WIDTH: 64%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1192"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Deferred tax assets:</font> </p> </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.3.lead.B2"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.3.symb.B2"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.3.amt.B2"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.3.trail.B2"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.3.lead.B3"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.3.symb.B3"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.3.amt.B3"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top" id="TBL1208.finRow.3.trail.B3"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: #ffffff" id="TBL1208.finRow.4"> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1193"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">Net operating loss carry-forward</font> </p> </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.4.lead.2"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.4.symb.2"> $ </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.4.amt.2"> 42,211 </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.4.trail.2" nowrap="nowrap"> &#160; </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.4.lead.3"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.4.symb.3"> $ </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.4.amt.3"> 40,499 </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1208.finRow.4.trail.3" nowrap="nowrap"> &#160; </td> </tr> <tr style="BACKGROUND-COLOR: #cceeff" id="TBL1208.finRow.5"> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #cceeff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1198"> <font style="FONT-FAMILY: Times New Roman, Times, serif; 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BACKGROUND-COLOR: #ffffff; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: top"> <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1223"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">2031</font> </p> </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1230.finRow.6.lead.2"> &#160; </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1230.finRow.6.symb.2"> &#160; </td> <td style="TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1230.finRow.6.amt.2"> 35,071 </td> <td style="TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; 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MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1230.finRow.8.lead.2"> &#160; </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: left; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1230.finRow.8.symb.2"> $ </td> <td style="BORDER-BOTTOM: #000000 3px double; TEXT-ALIGN: right; BACKGROUND-COLOR: #ffffff; WIDTH: 15%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1230.finRow.8.amt.2"> 98,777 </td> <td style="BORDER-BOTTOM: medium none; TEXT-ALIGN: left; PADDING-BOTTOM: 3px; BACKGROUND-COLOR: #ffffff; WIDTH: 1%; FONT-FAMILY: Times New Roman, Times, serif; MARGIN-LEFT: 0pt; FONT-SIZE: 10pt; VERTICAL-ALIGN: bottom" id="TBL1230.finRow.8.trail.2" nowrap="nowrap"> &#160; </td> </tr> </table> 2028-12-31 9201 2029-12-31 8319 2030-12-31 16432 2031-12-31 35071 2032-12-31 29754 98777 <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1232"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b>NOTE F &#8211; RELATED PARTY TRANSACTIONS</b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1234"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">From inception prior to the appointment of Mr. Angle, in July 2008 the former management (Mr. Lapkin) of the Company contributed a total of $5,868 in cash into the Company for operating expenses. In addition, in July 2008, former management, Mr. Lapkin &amp; Mr. Gruenbaum, agreed to assist Mr. Angle to file a registration statement, for which they were paid a total of $11,805 ($6,000 to Mr. Lapkin and $5,805 to Mr. Gruenbaum) in Company stock for accounting and legal services.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1236"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">In July 2008, Desmond Capital, Inc. invested $5,373 in the Company in return for 5,223,050 newly issued shares. The president of Desmond Capital is Mr. Chris Angle who is also the president of the Company. Desmond Capital has two purposes: first is to provide consulting and advice to small start up companies and to invest in these companies to help bring capital for expansion. The Desmond Capital investment was used for the on-going operations of the Company.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1238"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">During 2010 Mr. Angle, the Company&#8217;s CEO, contributed to additional paid-in capital $30 in cash for operating expenses.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1240"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">During 2011 Mr. Angle, advanced the Company $140 in cash for operating expenses. The advance had no stated terms of repayment and was non-interest bearing.</font><font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">&#160;</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1254"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">During 2012 Mr. Angle, advanced the Company $25 in cash for operating expenses. The advance had no stated terms of repayment and was non-interest bearing.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1256"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">In January 2013, Mr. Angle advanced the Company $100 in cash for operating expenses. The advance had no stated terms of repayment and was non-interest bearing.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1258"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On March 14, 2013 the Company entered into a stock subscription agreement with a company owned by the Company&#8217;s CEO, Mr. Angle, for the issuance of 640,292 shares of the Company&#8217;s common stock at $0.007 per share or $4,525. Proceeds of $4,025 have been received. The advance from officer in the amount of $500 has been applied to the amount due leaving a stock subscription receivable of $0 at September 30, 2013.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1260"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">In March 2013, the $265 advance to the Company by Mr. Angle was used by Mr. Angle as partial payment on a stock subscription entered into by a company owned by Mr. Angle. The advance from an officer amounted to $0 at March 31, 2013.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1262"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">In April 2013, Mr. Angle, the Company&#8217;s CEO, made a payment of $1,000 on behalf of the Company in payment of accounts payable.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1264"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">In May 2013 the Company entered into a stock subscription agreement with a company owned by Mr. Angle, the Company&#8217;s CEO for the issuance of 1,035,328 shares of the Company&#8217;s common stock at $0.007 per share or $7,000.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1266"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">In June 2013, Mr. Angle advanced the Company $60 in cash for operating expenses. The advance had no stated terms of repayment and was non-interest bearing.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1268"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">In June 2013 $235 of the advance from officer was used as payment on the stock subscription receivable.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1270"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On August 7, 2013 the Company received $1,250 in payment pursuant to a stock subscription agreement with V. Stolere (the spouse of the Company&#8217;s President) for the issuance of 197,822 shares of the Company&#8217;s common stock at $0.006 per share.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1272"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On September 10, 2013 the Company received $600 in payment pursuant to a stock subscription agreement with the Stamford Learning Center (a company owned by the Company&#8217;s President) for the issuance of 100,164 shares of the Company&#8217;s common stock at $0.006 per share.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1274"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On September 10, 2013 the Company received $400 in payment pursuant to a stock subscription agreement with V. Stolere (the spouse of the Company&#8217;s President) for the issuance of 66,776 shares of the Company&#8217;s common stock at $0.006 per share.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1276"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">In September 2013, Mr. Angle advanced the Company $40 in cash for operating expenses. The advance had no stated terms of repayment and was non-interest bearing.</font> </p><br/> 5868 11805 6000 5805 30 140 25 100 640292 4525 4025 265 0 1000 7000 60 235 1250 600 400 40 <p style="TEXT-ALIGN: left; LINE-HEIGHT: 1.25; MARGIN: 0pt" id="PARA1286"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt"><b>NOTE G &#8211; SUBSEQUENT EVENTS</b></font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA45-0"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">In November 2013, Mr. Angle contributed to additional paid-in capital $308 in cash for operating expenses.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA1288"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On November 12, 2013, the Company received $2,000 from M. Timofejeva, which is to be used for the purchase of shares of the Company&#8217;s common stock. There is no subscription agreement at this time.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA47"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On November 14, 2013, the Company received $2,700 from the Stamford Learning Center (a company owned by the Company&#8217;s President) which is to be used for the purchase of shares of the Company&#8217;s common stock. There is no subscription agreement at this time.</font> </p><br/><p style="TEXT-ALIGN: justify; LINE-HEIGHT: 1.25; MARGIN: 0pt 0pt 0pt 36pt" id="PARA49-0"> <font style="FONT-FAMILY: Times New Roman, Times, serif; FONT-SIZE: 10pt">On December 6, 2013, the Company received $3,500 from V. Stolere (the spouse of the Company&#8217;s President) which is to be used for the purchase of shares of the Company&#8217;s common stock. There is no subscription agreement at this time.</font> </p><br/> 308 2000 2700 3500 EX-101.SCH 8 judoe-20130930.xsd EXHIBIT 101.SCH 001 - Statement - Consolidated Balance Sheets (Current Period Unaudited) link:presentationLink link:definitionLink link:calculationLink 002 - Statement - Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) link:presentationLink link:definitionLink link:calculationLink 003 - Statement - Consolidated Statements of Operations (Unaudited) link:presentationLink link:definitionLink link:calculationLink 004 - Statement - Consolidated Statements of Cash Flows (Unaudited) link:presentationLink link:definitionLink link:calculationLink 005 - Statement - Consolidated Statement of Stockholders' Deficit Period From November 16, 2005 (Inception) to September 30, 2013 (Unaudited) link:presentationLink link:definitionLink link:calculationLink 006 - Statement - Consolidated Statement of Stockholders' Deficit Period From November 16, 2005 (Inception) to September 30, 2013 (Unaudited) (Parentheticals) link:presentationLink link:definitionLink link:calculationLink 007 - Disclosure - Note A - Organization and Nature of Business link:presentationLink link:definitionLink link:calculationLink 008 - Disclosure - Note B - Going Concern link:presentationLink link:definitionLink link:calculationLink 009 - Disclosure - Note C - Summary of Significant Accounting Policies link:presentationLink link:definitionLink link:calculationLink 010 - Disclosure - Note D - Stockholders' Deficit link:presentationLink link:definitionLink link:calculationLink 011 - Disclosure - Note E - Income Taxes link:presentationLink link:definitionLink link:calculationLink 012 - Disclosure - Note F - Related Party Transactions link:presentationLink link:definitionLink link:calculationLink 013 - Disclosure - Note G - Subsequent Events link:presentationLink link:definitionLink link:calculationLink 014 - Disclosure - Accounting Policies, by Policy (Policies) link:presentationLink link:definitionLink link:calculationLink 015 - Disclosure - Note E - Income Taxes (Tables) link:presentationLink link:definitionLink link:calculationLink 016 - 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Note B - Going Concern (Details) (USD $)
Sep. 30, 2013
Dec. 31, 2012
Policy Text Block [Abstract]    
Development Stage Enterprise, Deficit Accumulated During Development Stage $ 103,345 $ 99,168

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Consolidated Statements of Operations (Unaudited) (USD $)
3 Months Ended 9 Months Ended 94 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Revenues         $ 3,097
Operating Expenses          
Cost of revenues       (610) 3,237
General and administrative 3,848 4,024 16,727 19,436 115,373
Total Expenses 3,848 4,024 16,727 18,826 118,610
Operating Loss (3,848) (4,024) (16,727) (18,826) (115,513)
Other Income (Expense)          
Forgiveness of accounts payable     12,550   12,550
Interest expense       (57) (382)
Total Other Income (Expense)     12,550 (57) 12,168
Net Loss $ (3,848) $ (4,024) $ (4,177) $ (18,883) $ (103,345)
Net Loss per Common Share          
Basic and Diluted (in Dollars per share)         $ (0.01)
Weighted Average Shares Outstanding (in Shares) 16,100,358 13,925,313 15,207,093 13,339,321 8,066,272

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Note C - Summary of Significant Accounting Policies
9 Months Ended
Sep. 30, 2013
Accounting Policies [Abstract]  
Significant Accounting Policies [Text Block]

NOTE C – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES


Unaudited Interim Financial Statements


The accompanying unaudited interim consolidated financial statements as of September 30, 2013, and for the three and nine month periods ended September 30, 2013 and 2012 have been prepared in accordance with accounting principles generally accepted for interim financial statement presentation and in accordance with the instructions to Form 10-Q. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statement presentation. They should be read in conjunction with the Company’s annual report on Form 10-K for the year ended December 31, 2012. In the opinion of management, the financial statements contain all adjustments (consisting only of normal recurring accruals) necessary to fairly present the financial position as of September 30, 2013 and the results of operations for the three and nine month periods ended September 30, 2013 and 2012 and cash flows for the nine months ended September 30, 2013 and 2012. The results of operations for the nine months ended September 30, 2013 are not necessarily indicative of the results to be expected for the full year.


Principles of Consolidation


The consolidated financial statements include the accounts of Classic Rules Judo Championships, Inc. and its wholly owned subsidiary Classic Rules World Judo Championships, Inc. All significant inter-company balances and transactions have been eliminated in consolidation.


Use of Estimates


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 revenue and expenses during the reporting period. Actual results could differ from those estimates.


Cash and Cash Equivalents


The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The Company had no cash equivalents at September 30, 2013 or December 31, 2012.


Fair Value of Financial Instruments:


Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic No. 825, “Financial Instruments” (“Topic No. 825”) requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. Topic No. 825 defines fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. At September 30, 2013 and December 31, 2012 the carrying value of the Company’s cash, stock subscription receivable, accounts payable, accrued expenses, and advance from officer approximates fair value due to the short-term nature of these financial instruments.


Revenue Recognition


The Company recognizes revenue from participant entry fees and spectator fees upon collection since it is the Company’s policy to not issue refunds.


Equity-Based Compensation


The Company accounts for equity-based compensation transactions with employees under the provisions of ASC Topic No. 718, “Compensation, Stock Compensation” (“Topic No. 718”). Topic No. 718 requires the recognition of the fair value of equity-based compensation in net earnings. The fair value of common stock issued for compensation is measured at the market price on the date of grant. The fair value of the Company’s equity instruments, other than common stock, is estimated using a Black-Scholes option valuation model. This model requires the input of highly subjective assumptions and elections including expected stock price volatility and the estimated life of each award. In addition, the calculation of equity-based compensation costs requires that we estimate the number of awards that will be forfeited during the vesting period. The fair value of equity-based awards granted to employees is amortized over the vesting period of the award and the Company elects to use the straight-line method for awards granted after adoption of Topic No. 718.


Equity-Based Compensation (Continued)


The Company accounts for equity-based transactions with non-employees under provisions of ASC Topic No. 505-50, “Equity-Based Payments to Non-Employees” (“Topic No. 505-50”). Topic No. 505-50 establishes that equity-based payment transactions with non-employees shall be measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. The fair value of common stock issued for payments to non-employees is measured at the market price on the date of grant. The fair value of equity instruments, other than common stock, is estimated using the Black-Scholes option valuation model. In general, the Company recognizes an asset or expense in the same manner as if it was to pay cash for the goods or services instead of paying with or using the equity instrument.


Advertising Expense


The Company expenses advertising costs as incurred.


Net Loss Per Common Share


The Company computes basic net loss per common share by dividing the net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted loss per share is computed using the weighted average number of shares of common stock and dilutive common equivalent shares outstanding during the year. Common equivalent shares from stock options and other common stock equivalents are excluded from the computation when their effect is anti-dilutive. There were no common stock equivalents outstanding at September 30, 2013 and December 31, 2012.


Income Taxes


The Company accounts for income taxes in accordance with ASC Topic No. 740, Income Taxes (“Topic No. 740”) which requires the use of the liability method of accounting for income taxes. The liability method measures deferred income taxes by applying enacted statutory rates in effect at the balance sheet date to the differences between the tax basis of assets and liabilities and their reported amounts on the financial statements. The resulting deferred tax assets or liabilities are adjusted to reflect changes in tax laws as they occur. A valuation allowance is provided when it is more likely than not that a deferred tax asset will not be realized. At September 30, 2013 and December 31, 2012, the entire deferred tax asset, which arises from our net operating losses, has been fully reserved because management has determined that it is not more likely than not that the net operating loss carry forwards will be realized in the future. 


Income Taxes (Continued)


The Company recognizes and measures uncertain tax positions and records tax benefits when it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company recognizes interest and penalties as a component of income tax expense. At September 30, 2013 and 2012 the Company did not have any unrecognized tax benefits and has not accrued any liability for the payment of tax related interest or penalties. The Company currently has no federal or state tax examinations in progress nor has it had any federal or state tax examinations since inception.


Development Stage Enterprise


The Company is a development stage enterprise, as defined in ASC Topic No. 915 “Development Stage Entities”. To date, the Company’s planned principal operations have not fully commenced.


Subsequent Events


In accordance with Topic No. 855 “Subsequent Events” the Company evaluated subsequent events, which are events or transactions that occurred after September 30, 2013 through the date of the issuance of the accompanying consolidated financial statements.


Recently Issued Accounting Pronouncements


Management does not believe that any recently issued but not yet effective accounting pronouncements, if adopted, would have an effect on the accompanying consolidated financial statements.


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Note G - Subsequent Events (Details) (USD $)
1 Months Ended 0 Months Ended 1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended
Nov. 30, 2013
Subsequent Event [Member]
Chief Executive Officer [Member]
Nov. 12, 2013
Subsequent Event [Member]
M. Timofejeva [Member]
Nov. 14, 2013
Subsequent Event [Member]
President [Member]
Dec. 06, 2013
Subsequent Event [Member]
Immediate Family Member of Management or Principal Owner [Member]
Jun. 30, 2013
Chief Executive Officer [Member]
Mar. 31, 2013
Chief Executive Officer [Member]
Sep. 30, 2013
Chief Executive Officer [Member]
Dec. 31, 2013
Chief Executive Officer [Member]
Dec. 31, 2012
Chief Executive Officer [Member]
Dec. 31, 2011
Chief Executive Officer [Member]
Dec. 31, 2010
Chief Executive Officer [Member]
Note G - Subsequent Events (Details) [Line Items]                      
Proceeds from Related Party Debt $ 308 $ 2,000 $ 2,700 $ 3,500 $ 60 $ 265 $ 40 $ 100 $ 25 $ 140 $ 30
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Note D - Stockholders' Deficit (Details) (USD $)
0 Months Ended 9 Months Ended 94 Months Ended 0 Months Ended 1 Months Ended 0 Months Ended 9 Months Ended 0 Months Ended 9 Months Ended 0 Months Ended 1 Months Ended 0 Months Ended 1 Months Ended 0 Months Ended 1 Months Ended 0 Months Ended 1 Months Ended 3 Months Ended 0 Months Ended 1 Months Ended 0 Months Ended 1 Months Ended 0 Months Ended 0 Months Ended 3 Months Ended 0 Months Ended
Jul. 15, 2008
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Dec. 31, 2012
Feb. 08, 2012
Convertible Notes Payable [Member]
Jul. 31, 2008
Private Placement [Member]
Common Stock [Member]
President [Member]
Jul. 31, 2008
Private Placement [Member]
Common Stock [Member]
Apr. 02, 2013
Preferred Stock [Member]
Officer [Member]
Sep. 30, 2013
Preferred Stock [Member]
Officer [Member]
Apr. 02, 2013
Preferred Stock [Member]
Mr. Lapkin [Member]
Apr. 02, 2013
Preferred Stock [Member]
Mr. Gruenbaum [Member]
Sep. 30, 2013
Preferred Stock [Member]
Jul. 15, 2008
Common Stock [Member]
Mr. Lapkin [Member]
Jul. 15, 2008
Common Stock [Member]
Mr. Gruenbaum [Member]
Sep. 10, 2013
Common Stock [Member]
President [Member]
Aug. 18, 2010
Common Stock [Member]
President [Member]
Jul. 31, 2008
Common Stock [Member]
President [Member]
Jul. 15, 2008
Common Stock [Member]
Officer And Director [Member]
Sep. 10, 2013
Common Stock [Member]
Immediate Family Member of Management or Principal Owner [Member]
Aug. 07, 2013
Common Stock [Member]
Immediate Family Member of Management or Principal Owner [Member]
Aug. 09, 2012
Common Stock [Member]
Immediate Family Member of Management or Principal Owner [Member]
Mar. 17, 2012
Common Stock [Member]
Immediate Family Member of Management or Principal Owner [Member]
Feb. 08, 2012
Common Stock [Member]
Immediate Family Member of Management or Principal Owner [Member]
Feb. 14, 2012
Common Stock [Member]
Immediate Family Member of Management or Principal Owner [Member]
Mar. 17, 2011
Common Stock [Member]
Immediate Family Member of Management or Principal Owner [Member]
May 24, 2013
Common Stock [Member]
Chief Executive Officer [Member]
Mar. 14, 2013
Common Stock [Member]
Chief Executive Officer [Member]
May 31, 2013
Common Stock [Member]
Chief Executive Officer [Member]
Mar. 14, 2013
Common Stock [Member]
Chief Executive Officer [Member]
Aug. 07, 2013
Common Stock [Member]
M. Timofejeva [Member]
Aug. 09, 2012
Common Stock [Member]
Mar. 17, 2012
Common Stock [Member]
Feb. 08, 2012
Common Stock [Member]
Feb. 14, 2012
Common Stock [Member]
Nov. 15, 2011
Common Stock [Member]
Nov. 21, 2011
Common Stock [Member]
Mar. 25, 2011
Common Stock [Member]
Mar. 29, 2010
Common Stock [Member]
Jul. 15, 2008
Mr. Lapkin [Member]
Jul. 31, 2008
Mr. Lapkin [Member]
Jul. 15, 2008
Mr. Gruenbaum [Member]
Sep. 10, 2013
President [Member]
Sep. 10, 2013
Immediate Family Member of Management or Principal Owner [Member]
Aug. 07, 2013
Immediate Family Member of Management or Principal Owner [Member]
Mar. 14, 2013
Chief Executive Officer [Member]
Mar. 14, 2013
Chief Executive Officer [Member]
Sep. 30, 2013
Chief Executive Officer [Member]
Mar. 31, 2013
Chief Executive Officer [Member]
Aug. 07, 2013
M. Timofejeva [Member]
Note D - Stockholders' Deficit (Details) [Line Items]                                                                                                    
Preferred Stock, Shares Authorized   50,000,000   50,000,000 50,000,000                                                                                          
Preferred Stock, Par or Stated Value Per Share (in Dollars per share)   $ 0.001   $ 0.001 $ 0.001                                                                                          
Preferred Stock, Voting Rights   five                                                                                                
Stock Issued During Period, Shares, New Issues               6,000,000   1,250,000                                                                                
Stock Cancelled, Shares                 1,250,000   625,000 625,000 (1,250,000)                                                                          
Common Stock, Shares Authorized   100,000,000   100,000,000 100,000,000                                                                                          
Common Stock, Par or Stated Value Per Share (in Dollars per share)   $ 0.001   $ 0.001 $ 0.001                           $ 0.001                                                              
Common Stock, Shares, Issued   16,388,310   16,388,310 14,150,106                                                                                          
Common Stock, Shares, Outstanding   16,388,310   16,388,310 14,150,106                                                                                          
Common Stock Share Subscriptions   562,584   562,584                                                                                            
Sale of Stock, Price Per Share (in Dollars per share)               $ 0.001               $ 0.006 $ 0.009     $ 0.006 $ 0.006 $ 0.007 $ 0.008 $ 0.009 $ 0.008 $ 0.009 $ 0.007 $ 0.007   $ 0.007 $ 0.006 $ 0.007 $ 0.008 $ 0.009 $ 0.008 $ 0.009 $ 0.009 $ 0.009 $ 0.006                      
Sale of Stock, Number of Shares Issued in Transaction (in Shares)             5,223,050                                                                                      
Proceeds from Issuance of Private Placement (in Dollars)                                   $ 5,373                                                                
Stock Issued During Period, Shares, Issued for Services                           1,160,678 1,160,678       1,160,678                                                              
Share-based Compensation (in Dollars)       1,161                             1,161                                                              
Stock Issued During Period, Value, Issued for Services (in Dollars)                                                                               6,000   5,805                
Difference In Value Of Services Provided (in Dollars) 195                                                                                                  
Sale Of Stock Number Of Shares Subscribed (in Shares)                               100,164 185,079     66,776 197,822 204,088 226,025 104,366 307,271 161,415 1,035,328 640,292   640,292 197,822 340,147 361,398 105,305 315,018 430,107 134,408 109,224 825,826                      
Sale of Stock, Consideration Received on Transaction (in Dollars)                                 1,750         1,500 1,750 900 2,500 1,500 7,000 4,525 7,000 4,525   2,500 2,750 900 2,500 4,000 1,250 1,000 5,000                      
Debt Conversion, Original Debt, Amount (in Dollars)           5,000                                                                                        
Debt Conversion, Converted Instrument, Shares Issued                                                                   590,293                                
Debt Instrument, Convertible, Conversion Price (in Dollars per share)                                                                   $ 0.008                                
Proceeds from Issuance of Common Stock (in Dollars)   14,525 15,300 49,698                       600       400 1,250                                           600 400 1,250 4,025 4,025     1,250
Due to Related Parties (in Dollars)                                                                                 5,868         500 500   0  
Common Stock, Share Subscribed but Unissued, Subscriptions Receivable (in Dollars)                                                                                               $ 0    
XML 21 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statement of Stockholders' Deficit Period From November 16, 2005 (Inception) to September 30, 2013 (Unaudited) (USD $)
Spin-out [Member]
Preferred Stock [Member]
Shares Issued November 18, 2005 [Member]
Spin-out [Member]
Common Stock [Member]
Shares Issued November 18, 2005 [Member]
Spin-out [Member]
Additional Paid-in Capital [Member]
Shares Issued November 18, 2005 [Member]
Spin-out [Member]
Accumulated Deficit during Development Stage [Member]
Shares Issued November 18, 2005 [Member]
Spin-out [Member]
Shares Issued November 18, 2005 [Member]
Preferred Stock [Member]
Common Stock [Member]
Shares Issued July 15, 2008 A [Member]
Common Stock [Member]
Shares Issued July 15, 2008 B [Member]
Common Stock [Member]
Shares Issued July 15, 2008 C [Member]
Common Stock [Member]
Shares Issued March 29, 2010 [Member]
Common Stock [Member]
Shares Issued August 18, 2010 [Member]
Common Stock [Member]
Shares Issued March 17, 2011 [Member]
Common Stock [Member]
Shares Issued March 25, 2011 [Member]
Common Stock [Member]
Shares Issued November 15, 2011 [Member]
Common Stock [Member]
Shares Issued November 21, 2011 [Member]
Common Stock [Member]
Shares Issued February 8, 2012 A [Member]
Common Stock [Member]
Shares Issued February 8, 2012 B [Member]
Common Stock [Member]
Shares Issued February 14, 2012 [Member]
Common Stock [Member]
Shares Issued March 17, 2012 [Member]
Common Stock [Member]
Shares Issued August 9, 2012 A [Member]
Common Stock [Member]
Shares Issued August 9, 2012 B [Member]
Common Stock [Member]
Shares Issued August 9, 2012 C [Member]
Common Stock [Member]
Shares Issued March 14, 2013 [Member]
Common Stock [Member]
Shares Issued May 24, 2013 [Member]
Common Stock [Member]
Shares Issued August 7, 2013 [Member]
Common Stock [Member]
Shares Issued September 10, 2013 [Member]
Common Stock [Member]
Additional Paid-in Capital [Member]
Shares Issued July 15, 2008 A [Member]
Additional Paid-in Capital [Member]
Shares Issued July 15, 2008 C [Member]
Additional Paid-in Capital [Member]
Shares Issued March 29, 2010 [Member]
Additional Paid-in Capital [Member]
Shares Issued August 18, 2010 [Member]
Additional Paid-in Capital [Member]
Shares Issued March 17, 2011 [Member]
Additional Paid-in Capital [Member]
Shares Issued March 25, 2011 [Member]
Additional Paid-in Capital [Member]
Shares Issued November 15, 2011 [Member]
Additional Paid-in Capital [Member]
Shares Issued November 21, 2011 [Member]
Additional Paid-in Capital [Member]
Shares Issued February 8, 2012 A [Member]
Additional Paid-in Capital [Member]
Shares Issued February 8, 2012 B [Member]
Additional Paid-in Capital [Member]
Shares Issued February 14, 2012 [Member]
Additional Paid-in Capital [Member]
Shares Issued March 17, 2012 [Member]
Additional Paid-in Capital [Member]
Shares Issued August 9, 2012 A [Member]
Additional Paid-in Capital [Member]
Shares Issued August 9, 2012 B [Member]
Additional Paid-in Capital [Member]
Shares Issued August 9, 2012 C [Member]
Additional Paid-in Capital [Member]
Shares Issued March 14, 2013 [Member]
Additional Paid-in Capital [Member]
Shares Issued May 24, 2013 [Member]
Additional Paid-in Capital [Member]
Shares Issued August 7, 2013 [Member]
Additional Paid-in Capital [Member]
Shares Issued September 10, 2013 [Member]
Additional Paid-in Capital [Member]
Stock Subscription Receivable [Member]
Shares Issued March 14, 2013 [Member]
Stock Subscription Receivable [Member]
Accumulated Deficit during Development Stage [Member]
Shares Issued July 15, 2008 A [Member]
Shares Issued July 15, 2008 B [Member]
Shares Issued July 15, 2008 C [Member]
Shares Issued March 29, 2010 [Member]
Shares Issued August 18, 2010 [Member]
Shares Issued March 17, 2011 [Member]
Shares Issued March 25, 2011 [Member]
Shares Issued November 15, 2011 [Member]
Shares Issued November 21, 2011 [Member]
Shares Issued February 8, 2012 A [Member]
Shares Issued February 8, 2012 B [Member]
Shares Issued February 14, 2012 [Member]
Shares Issued March 17, 2012 [Member]
Shares Issued August 9, 2012 A [Member]
Shares Issued August 9, 2012 B [Member]
Shares Issued August 9, 2012 C [Member]
Shares Issued March 14, 2013 [Member]
Shares Issued May 24, 2013 [Member]
Shares Issued August 7, 2013 [Member]
Shares Issued September 10, 2013 [Member]
Total
Balance at Nov. 15, 2005                                                                                                                                              
Shares issued in spinout on November 18, 2005 $ 1,250 $ 1,045 $ (2,295)   $ 0                                                                                                                                    
Shares issued in spinout on November 18, 2005 (in Shares) 1,250,000 1,045,052                                                                                                                                          
Contributed capital     342   342                                                                                                                                    
Net loss for the year       (342) (342)                                                                                                                                    
Balance at Dec. 31, 2005           1,250                                         1,045                                       (1,953)     (342)                                          
Balance (in Shares) at Dec. 31, 2005           1,250,000                                         1,045,052                                                                                        
Balance at Nov. 15, 2005                                                                                                                                             0
Net loss for the year                                                                                                                                             (103,345)
Preferred shares cancelled April 1, 2013           (1,250)                                                                                                                                  
Services donated by referees                                                                                                                                             150
Balance at Sep. 30, 2013                                                     16,388                                                                                       (28,207)
Balance (in Shares) at Sep. 30, 2013                                                     16,388,310                                                                                        
Balance at Dec. 31, 2007           1,250                                         1,045                                       (1,953)     (342)                                         0
Balance (in Shares) at Dec. 31, 2007           1,250,000                                         1,045,052                                                                                        
Contributed capital                                                                                             5,526                                               5,526
Net loss for the year                                                                                                   (22,167)                                         (22,167)
Shares issued for cash             5,223                                         150                                             5,373                                        
Shares issued for cash (in Shares)             5,223,050                                                                                                                                
Shares issued as compensation at $0.001 on July 15, 2008               1,161                                                                                       1,161                                      
Shares issued as compensation at $0.001 on July 15, 2008 (in Shares)               1,160,678                                                                                                                              
Shares issued for services at $0.005 on July 15, 2008                 2,321                                       9,484                                               11,805                                    
Shares issued for services at $0.005 on July 15, 2008 (in Shares)                 2,321,356                                                                                                                            
Balance at Dec. 31, 2008           1,250                                         9,750                                       13,207     (22,509)                                         1,698
Balance (in Shares) at Dec. 31, 2008           1,250,000                                         9,750,136                                                                                        
Contributed capital                                                                                             544                                               544
Net loss for the year                                                                                                   (8,319)                                         (8,319)
Balance at Dec. 31, 2009           1,250                                         9,750                                       13,751     (30,828)                                         (6,077)
Balance (in Shares) at Dec. 31, 2009           1,250,000                                         9,750,136                                                                                        
Contributed capital                                                                                             30                                               30
Net loss for the year                                                                                                   (16,481)                                         (16,481)
Shares issued for cash                   826 185                                     4,174 1,565                                             5,000 1,750                                
Shares issued for cash (in Shares)                   825,826 185,079                                                                                                                        
Balance at Dec. 31, 2010           1,250                                         10,761                                       19,520     (47,309)                                         (15,778)
Balance (in Shares) at Dec. 31, 2010           1,250,000                                         10,761,041                                                                                        
Net loss for the year                                                                                                   (22,105)                                         (22,105)
Shares issued for cash                       162 109 430 134                                 1,338 891 3,570 1,116                                         1,500 1,000 4,000 1,250                        
Shares issued for cash (in Shares)                       161,415 109,224 430,107 134,408                                                                                                                
Services donated by referees                                                                                             150                                               150
Imputed interest on convertible loan payable                                                                                             325                                               325
Balance at Dec. 31, 2011           1,250                                         11,596                                       26,910     (69,414)                                         (29,658)
Balance (in Shares) at Dec. 31, 2011           1,250,000                                         11,596,195                                                                                        
Net loss for the year                                                                                                   (29,754)                                         (29,754)
Shares issued for cash                               210 590 622 588 204 204 136                           1,590 4,410 4,378 3,912 1,296 1,296 864                                   1,800 5,000 5,000 4,500 1,500 1,500 1,000          
Shares issued for cash (in Shares)                               209,671 590,293 622,289 587,423 204,088 204,088 136,059                                                                                                  
Imputed interest on convertible loan payable                                                                                             57                                               57
Balance at Dec. 31, 2012           1,250                                         14,150                                       44,713     (99,168)                                         (39,055)
Balance (in Shares) at Dec. 31, 2012           1,250,000                                         14,150,106                                                                                        
Net loss for the year                                                                                                   (4,177)                                         (4,177)
Shares issued for cash                                             640 1,036 396 166                                 3,885 5,964 2,104 834   (235)                                     4,290 7,000 2,500 1,000  
Shares issued for cash (in Shares)                                             640,292 1,035,328 395,644 166,940                                                                                          
Settlement of stock subscription receivable                                                                                                 235                                           235
Preferred shares cancelled April 1, 2013           (1,250)                                                                                 1,250                                                
Preferred shares cancelled April 1, 2013 (in Shares)           (1,250,000)                                                                                                                                  
Balance at Sep. 30, 2013                                                     $ 16,388                                       $ 58,750     $ (103,345)                                         $ (28,207)
Balance (in Shares) at Sep. 30, 2013                                                     16,388,310                                                                                        
XML 22 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note A - Organization and Nature of Business
9 Months Ended
Sep. 30, 2013
Disclosure Text Block [Abstract]  
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

NOTE A – ORGANIZATION AND NATURE OF BUSINESS


Classic Rules Judo Championships, Inc. was incorporated in the State of Delaware on November 16, 2005 under the name Blue Ribbon Pyrocool, Inc. (“Blue Ribbon”). Blue Ribbon changed its name to Classic Rules Judo Championships, Inc. ("Classic Rules") on July 15, 2008. Classic Rules formed a subsidiary in the State of Connecticut on August 13, 2008 named Classic Rules World Judo Championships, Inc. to develop an annual judo championship tournament. Collectively the entities are referred to as “the Company.” Clients pay a fee and the Company posts their entry on the Company’s website. The Company prepares an historical competition evaluation of the participant and places that participant to an appropriate position on the elimination chart in order to allow the highest probability of the most renowned athletes to meet late in the competition preferably in the quarter-finals, the semi-finals, or finals. To date, the Company has held two tournaments.


XML 23 R11.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note D - Stockholders' Deficit
9 Months Ended
Sep. 30, 2013
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]

NOTE D – STOCKHOLDERS’ DEFICIT


Preferred Stock


The Company is authorized to issue 50,000,000 shares of preferred stock with a par value of $0.001 per share. The Company has designated that these shares of preferred stock have five times voting capacity of the common stock but do not have any conversion or other rights or privileges. The Company does not have any additional Series of preferred stock. The Company has issued 1,250,000 preferred shares to the two former officers of the Company.


On April 1, 2013 the Company, Mr. Lapkin and Mr. Gruenbaum cancelled the 1,250,000 outstanding shares of preferred stock held by Mr. Lapkin and Mr. Gruenbaum, 625,000 shares held by each. No consideration was paid by the Company for the return and cancellation of the shares.


Common Stock


The Company is authorized to issue 100,000,000 shares of common stock with a par value of $0.001 per share. At September 30, 2013 there are 16,388,310 shares of common stock issued and outstanding, which includes 562,584 subscribed and fully paid for shares, which have been authorized for issuance, but have yet to be issued.


In July 2008, the Company undertook a private offering of approximately 6,000,000 shares of common stock. The stock was offered with a price of $0.001 per share. The private offering was made to Desmond Capital, Inc. (“Desmond”) through a subscription agreement. Desmond purchased 5,223,050 of the offered shares for a total of $5,373 in cash. Desmond’s shares were purchased with the intention of holding the securities for investment purposes, with no intention of dividing or allowing others to participate in this investment or to sell the securities for at least one year in the event that the Company becomes registered with the Securities and Exchange Commission.


On July 15, 2008, the Company issued 1,160,678 shares of common stock to its officer and director, Chris Angle. The shares were issued to Mr. Angle as compensation for services rendered as the officer and director of the Company. As the Company had minimal assets and operations at the date of issuance, the shares were valued at their par value of $0.001 per share and $1,161 was recorded as stock-based compensation.


On July 15, 2008, the Company issued 1,160,678 shares of common stock to a consultant, Nathan Lapkin. The shares were issued to Mr. Lapkin as compensation for his accounting services rendered to the Company.


On July 15, 2008, the Company issued 1,160,678 shares of common stock to a consultant, Jerry Gruenbaum, Esq. The shares were issued to Mr. Gruenbaum as compensation for his legal services rendered to the Company.


The shares issued to Messrs. Gruenbaum and Lapkin were for consulting services and were valued at the fair value of the services provided. Due to the lack of assets and operations of the Company and the lack of a market for the Company’s stock, the Company determined that the fair value of the services provided were more reliably measurable. The Company obtained invoices from Messrs. Gruenbaum and Lapkin for the services provided. Mr. Gruenbaum provided legal services valued at $5,805 and Mr. Lapkin provided accounting and consulting services valued at $6,000. The Company issued both individuals the same number of shares for the services rendered. After reviewing the services provided, the Company noted that there was a $195 difference in the value of the services provided by these two individuals. The Company concluded that this difference was insignificant and did not require any adjustment. See Note F.


On March 29, 2010, the Company sold 825,826 shares of common stock at $0.006 per share to an investor under a stock subscription agreement and received proceeds of $5,000.


On August 18, 2010, the Company sold 185,079 shares of common stock at $0.009 per share to its president under a stock subscription agreement and received proceeds of $1,750.


On March 17, 2011 the Company sold 161,415 shares of common stock at $0.009 per share to the spouse of its president under a stock subscription agreement and received proceeds of $1,500.


On March 25, 2011 the Company sold 109,224 shares of common stock at $0.009 per share to an investor under a stock subscription agreement and received proceeds of $1,000.


On November 15, 2011 the Company sold 430,107 shares of common stock at $0.009 per share to an investor under a stock subscription agreement and received proceeds of $4,000.


On November 21, 2011 the Company sold 134,408 shares of common stock at $0.009 per share to an investor under a stock subscription agreement and received proceeds of $1,250.


On February 8, 2012 the Company sold 105,305 shares of common stock at $0.009 per share to an investor under a stock subscription agreement and received proceeds of $900.


On February 8, 2012, the Company sold 104,366 shares of common stock at $0.009 per share to the spouse of its president under a stock subscription agreement and received proceeds of $900.


On February 8, 2012 the holder of the convertible loan payable converted his $5,000 loan into 590,293 newly issued shares of common stock in the Company at $0.008 per share.


On February 14, 2012 the Company sold 315,018 shares of common stock at $0.008 per share to an investor under a stock subscription agreement and received proceeds of $2,500.


On February 14, 2012, the Company sold 307,271 shares of common stock at $0.008 per share to the spouse of its president under a stock subscription agreement and received proceeds of $2,500.


On March 17, 2012, the Company sold 361,398 shares of common stock at $0.008 per share to two investors under stock subscription agreements and received proceeds of $2,750.


On March 17, 2012, the Company sold 226,025 shares of common stock at $0.008 per share to the spouse of its president under a stock subscription agreement and received proceeds of $1,750.


On August 9, 2012, the Company sold 204,088 shares of common stock at $0.007 per share to the spouse of its president under a stock subscription agreement and received proceeds of $1,500.


On August 9, 2012, the Company sold 340,147 shares of common stock at $0.007 per share to two investors under stock subscription agreements and received proceeds of $2,500.


On March 14, 2013 the Company entered into a stock subscription agreement with a company owned by the Company’s CEO, Mr. Angle, for the issuance of 640,292 shares of the Company’s common stock at $0.007 per share or $4,525. Proceeds of $4,025 have been received. The advance from officer in the amount of $500 has been applied to the amount due leaving a stock subscription receivable of $0 at September 30, 2013.


On May 24, 2013 the Company entered into a stock subscription agreement with a company owned by Mr. Angle, the Company’s CEO for the issuance of 1,035,328 shares of the Company’s common stock at $0.007 per share or $7,000.


On August 7, 2013 the Company received $1,250 in payment pursuant to a stock subscription agreement with M. Timofejeva for the issuance of 197,822 shares of the Company’s common stock at $0.006 per share.


On August 7, 2013 the Company received $1,250 in payment pursuant to a stock subscription agreement with V. Stolere (the spouse of the Company’s President) for the issuance of 197,822 shares of the Company’s common stock at $0.006 per share.


On September 10, 2013 the Company received $600 in payment pursuant to a stock subscription agreement with the Stamford Leaning Center (a company owned by the Company’s President) for the issuance of 100,164 shares of the Company’s common stock at $0.006 per share.


On September 10, 2013 the Company received $400 in payment pursuant to a stock subscription agreement with V. Stolere (the spouse of the Company’s President) for the issuance of 66,776 shares of the Company’s common stock at $0.006 per share.


XML 24 R9.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note B - Going Concern
9 Months Ended
Sep. 30, 2013
Policy Text Block [Abstract]  
Liquidity Disclosure [Policy Text Block]

NOTE B – GOING CONCERN


The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has minimal revenues since inception, has a deficit accumulated during the development stage of $103,345, and has experienced negative cash flows from operations. These circumstances raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.


Management plans to specialize in utilizing internet media and word of mouth to market and generate its leads for its future business of conducting tournaments. The Company needs to raise additional capital in order to fully develop its business plan. Failure to raise adequate capital and generate adequate revenues could result in the Company having to curtail or cease operations. Additionally, even if the Company does raise sufficient capital to support its operating expenses and generate adequate revenues, there can be no assurance that the revenue will be sufficient to enable it to develop business to a level where it will generate profits and adequate cash flows from operations.


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Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $)
Sep. 30, 2013
Dec. 31, 2012
Preferred stock, par value (in Dollars per share) $ 0.001 $ 0.001
Preferred stock, shares authorized 50,000,000 50,000,000
Preferred stock, shares issued 0 1,250,000
Preferred stock, outstanding 0 1,250,000
Common stock, par value (in Dollars per share) $ 0.001 $ 0.001
Common stock, shares authorized 100,000,000 100,000,000
Common stock, shares issued 16,388,310 14,150,106
Common stock, outstanding 16,388,310 14,150,106

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Note G - Subsequent Events
9 Months Ended
Sep. 30, 2013
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

NOTE G – SUBSEQUENT EVENTS


In November 2013, Mr. Angle contributed to additional paid-in capital $308 in cash for operating expenses.


On November 12, 2013, the Company received $2,000 from M. Timofejeva, which is to be used for the purchase of shares of the Company’s common stock. There is no subscription agreement at this time.


On November 14, 2013, the Company received $2,700 from the Stamford Learning Center (a company owned by the Company’s President) which is to be used for the purchase of shares of the Company’s common stock. There is no subscription agreement at this time.


On December 6, 2013, the Company received $3,500 from V. Stolere (the spouse of the Company’s President) which is to be used for the purchase of shares of the Company’s common stock. There is no subscription agreement at this time.


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Consolidated Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended 94 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Cash Flows from Operating Activities      
Net loss $ (4,177) $ (18,883) $ (103,345)
Adjustments to reconcile net loss to net cash used in operating activities:      
Shares issued for services     11,805
Shares issued for salaries     1,161
Expenses paid by shareholders     6,412
Forgiveness of accounts payable (12,550)   (12,550)
Donated services     150
Imputed interest   57 382
Changes in operating assets and liabilities-      
Increase (decrease) in accounts payable 7,000 9,047 37,897
Increase (decrease) in accrued expenses (5,000) (5,500) 3,000
Net Cash Used in Operating Activities (14,727) (15,279) (55,088)
Cash Flows from Financing Activities      
Bank overdraft   (15)  
Proceeds from convertible loan payable     5,000
Proceeds from issuance of common stock 14,525 15,300 49,698
Net Cash Provided by Financing Activities 14,725 15,310 55,093
Net Increase (Decrease) in Cash (2) 31 5
Cash, Beginning of Period 7    
Cash, End of Period 5 31 5
Supplemental Cash Flow Information:      
Cash paid for interest 0 0 0
Cash paid for taxes 0 0 0
Non-Cash Financing Transactions:      
Conversion of convertible loan payable into common stock   5,000 5,000
Stock subscription receivable on common stock issued 500   500
Settlement of advance from officer with subscription receivable 500   500
Accounts payable paid directly by officer 1,000   1,000
Advance From Officer [Member]
     
Cash Flows from Financing Activities      
Proceeds from related party 200 25 365
Cash Contributions [Member]
     
Cash Flows from Financing Activities      
Proceeds from related party     30
Preferred Stock [Member]
     
Non-Cash Financing Transactions:      
Cancellation of preferred stock into additional paid-in capital $ 1,250   $ 1,250
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Consolidated Balance Sheets (Current Period Unaudited) (USD $)
Sep. 30, 2013
Dec. 31, 2012
Current Assets    
Cash $ 5 $ 7
Total Current Assets 5 7
Total Assets 5 7
Current Liabilities    
Accounts payable 24,347 30,897
Accrued expenses 3,000 8,000
Advance from officer 865 165
Total Current Liabilities 28,212 39,062
Total Liabilities 28,212 39,062
Stockholders' Deficit    
Preferred stock, $0.001 par value; 50,000,000 shares authorized; none and 1,250,000 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively   1,250
Common stock, $0.001 par value 100,000,000 shares authorized 16,388,310 and 14,150,106 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively 16,388 14,150
Additional paid-in capital 58,750 44,713
Stock subscription receivable 0 0
Deficit accumulated during development stage (103,345) (99,168)
Total Stockholders' Deficit (28,207) (39,055)
Total Liabilities and Stockholders' Deficit $ 5 $ 7
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Note F - Related Party Transactions (Details) (USD $)
9 Months Ended 94 Months Ended 1 Months Ended 0 Months Ended 1 Months Ended 0 Months Ended 1 Months Ended 3 Months Ended 0 Months Ended 1 Months Ended 0 Months Ended 1 Months Ended 0 Months Ended 1 Months Ended 0 Months Ended 1 Months Ended 0 Months Ended 1 Months Ended 3 Months Ended 9 Months Ended 12 Months Ended 0 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Jul. 31, 2008
Private Placement [Member]
Common Stock [Member]
President [Member]
Jul. 31, 2008
Private Placement [Member]
Common Stock [Member]
Sep. 10, 2013
Common Stock [Member]
President [Member]
Aug. 18, 2010
Common Stock [Member]
President [Member]
Jul. 31, 2008
Common Stock [Member]
President [Member]
May 24, 2013
Common Stock [Member]
Chief Executive Officer [Member]
Mar. 14, 2013
Common Stock [Member]
Chief Executive Officer [Member]
May 31, 2013
Common Stock [Member]
Chief Executive Officer [Member]
Mar. 14, 2013
Common Stock [Member]
Chief Executive Officer [Member]
Sep. 10, 2013
Common Stock [Member]
Immediate Family Member of Management or Principal Owner [Member]
Aug. 07, 2013
Common Stock [Member]
Immediate Family Member of Management or Principal Owner [Member]
Aug. 09, 2012
Common Stock [Member]
Immediate Family Member of Management or Principal Owner [Member]
Mar. 17, 2012
Common Stock [Member]
Immediate Family Member of Management or Principal Owner [Member]
Feb. 08, 2012
Common Stock [Member]
Immediate Family Member of Management or Principal Owner [Member]
Feb. 14, 2012
Common Stock [Member]
Immediate Family Member of Management or Principal Owner [Member]
Mar. 17, 2011
Common Stock [Member]
Immediate Family Member of Management or Principal Owner [Member]
Aug. 09, 2012
Common Stock [Member]
Mar. 17, 2012
Common Stock [Member]
Feb. 08, 2012
Common Stock [Member]
Feb. 14, 2012
Common Stock [Member]
Nov. 15, 2011
Common Stock [Member]
Nov. 21, 2011
Common Stock [Member]
Mar. 25, 2011
Common Stock [Member]
Mar. 29, 2010
Common Stock [Member]
Jul. 31, 2008
Mr. Lapkin [Member]
Jul. 31, 2008
Mr. Lapkin & Mr. Gruenbaum [Member]
Jul. 31, 2008
Mr. Gruenbaum [Member]
Sep. 10, 2013
President [Member]
Mar. 14, 2013
Chief Executive Officer [Member]
Jun. 30, 2013
Chief Executive Officer [Member]
Apr. 30, 2013
Chief Executive Officer [Member]
Mar. 14, 2013
Chief Executive Officer [Member]
Mar. 31, 2013
Chief Executive Officer [Member]
Sep. 30, 2013
Chief Executive Officer [Member]
Dec. 31, 2013
Chief Executive Officer [Member]
Dec. 31, 2012
Chief Executive Officer [Member]
Dec. 31, 2011
Chief Executive Officer [Member]
Dec. 31, 2010
Chief Executive Officer [Member]
Sep. 10, 2013
Immediate Family Member of Management or Principal Owner [Member]
Aug. 07, 2013
Immediate Family Member of Management or Principal Owner [Member]
Note F - Related Party Transactions (Details) [Line Items]                                                                                      
Due to Related Parties                                                       $ 5,868       $ 500     $ 500 $ 0              
Related Party Transaction, Amounts of Transaction                                                       6,000 11,805 5,805     235 1,000                  
Proceeds from Issuance of Private Placement               5,373                                                                      
Sale of Stock, Number of Shares Issued in Transaction (in Shares)       5,223,050                                                                              
Proceeds from Related Party Debt                                                                 60     265 40 100 25 140 30    
Sale Of Stock Number Of Shares Subscribed (in Shares)           100,164 185,079   1,035,328 640,292   640,292 66,776 197,822 204,088 226,025 104,366 307,271 161,415 340,147 361,398 105,305 315,018 430,107 134,408 109,224 825,826                                
Sale of Stock, Price Per Share (in Dollars per share)         $ 0.001 $ 0.006 $ 0.009   $ 0.007 $ 0.007   $ 0.007 $ 0.006 $ 0.006 $ 0.007 $ 0.008 $ 0.009 $ 0.008 $ 0.009 $ 0.007 $ 0.008 $ 0.009 $ 0.008 $ 0.009 $ 0.009 $ 0.009 $ 0.006                                
Sale of Stock, Consideration Received on Transaction             1,750   7,000 4,525 7,000 4,525     1,500 1,750 900 2,500 1,500 2,500 2,750 900 2,500 4,000 1,250 1,000 5,000                                
Proceeds from Issuance of Common Stock 14,525 15,300 49,698     600             400 1,250                                 600 4,025     4,025             400 1,250
Common Stock, Share Subscribed but Unissued, Subscriptions Receivable                                                                         $ 0            
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Note F - Related Party Transactions
9 Months Ended
Sep. 30, 2013
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]

NOTE F – RELATED PARTY TRANSACTIONS


From inception prior to the appointment of Mr. Angle, in July 2008 the former management (Mr. Lapkin) of the Company contributed a total of $5,868 in cash into the Company for operating expenses. In addition, in July 2008, former management, Mr. Lapkin & Mr. Gruenbaum, agreed to assist Mr. Angle to file a registration statement, for which they were paid a total of $11,805 ($6,000 to Mr. Lapkin and $5,805 to Mr. Gruenbaum) in Company stock for accounting and legal services.


In July 2008, Desmond Capital, Inc. invested $5,373 in the Company in return for 5,223,050 newly issued shares. The president of Desmond Capital is Mr. Chris Angle who is also the president of the Company. Desmond Capital has two purposes: first is to provide consulting and advice to small start up companies and to invest in these companies to help bring capital for expansion. The Desmond Capital investment was used for the on-going operations of the Company.


During 2010 Mr. Angle, the Company’s CEO, contributed to additional paid-in capital $30 in cash for operating expenses.


During 2011 Mr. Angle, advanced the Company $140 in cash for operating expenses. The advance had no stated terms of repayment and was non-interest bearing. 


During 2012 Mr. Angle, advanced the Company $25 in cash for operating expenses. The advance had no stated terms of repayment and was non-interest bearing.


In January 2013, Mr. Angle advanced the Company $100 in cash for operating expenses. The advance had no stated terms of repayment and was non-interest bearing.


On March 14, 2013 the Company entered into a stock subscription agreement with a company owned by the Company’s CEO, Mr. Angle, for the issuance of 640,292 shares of the Company’s common stock at $0.007 per share or $4,525. Proceeds of $4,025 have been received. The advance from officer in the amount of $500 has been applied to the amount due leaving a stock subscription receivable of $0 at September 30, 2013.


In March 2013, the $265 advance to the Company by Mr. Angle was used by Mr. Angle as partial payment on a stock subscription entered into by a company owned by Mr. Angle. The advance from an officer amounted to $0 at March 31, 2013.


In April 2013, Mr. Angle, the Company’s CEO, made a payment of $1,000 on behalf of the Company in payment of accounts payable.


In May 2013 the Company entered into a stock subscription agreement with a company owned by Mr. Angle, the Company’s CEO for the issuance of 1,035,328 shares of the Company’s common stock at $0.007 per share or $7,000.


In June 2013, Mr. Angle advanced the Company $60 in cash for operating expenses. The advance had no stated terms of repayment and was non-interest bearing.


In June 2013 $235 of the advance from officer was used as payment on the stock subscription receivable.


On August 7, 2013 the Company received $1,250 in payment pursuant to a stock subscription agreement with V. Stolere (the spouse of the Company’s President) for the issuance of 197,822 shares of the Company’s common stock at $0.006 per share.


On September 10, 2013 the Company received $600 in payment pursuant to a stock subscription agreement with the Stamford Learning Center (a company owned by the Company’s President) for the issuance of 100,164 shares of the Company’s common stock at $0.006 per share.


On September 10, 2013 the Company received $400 in payment pursuant to a stock subscription agreement with V. Stolere (the spouse of the Company’s President) for the issuance of 66,776 shares of the Company’s common stock at $0.006 per share.


In September 2013, Mr. Angle advanced the Company $40 in cash for operating expenses. The advance had no stated terms of repayment and was non-interest bearing.


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Note E - Income Taxes (Tables)
9 Months Ended
Sep. 30, 2013
Policy Text Block [Abstract]  
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]
   

Nine Months Ended

 
   

September 30,

 
   

2013

   

2012

 
                 

U.S Statutory Corporate Income Tax Rate

    (34.0

)%

    (34.0

%)

State Income Tax

    (7.0

)%

    (7.0

%)

Change in Valuation Allowance on Deferred Tax Asset

    41.0

%

    41.0

%

Effective Rate

    -

%

    -

%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]
   

September 30,

   

December 31

 
   

2013

   

2012

 

Deferred tax assets:

               

Net operating loss carry-forward

  $ 42,211     $ 40,499  

Valuation Allowance

    (42,211

)

    (40,499

)

Net Deferred tax assets

  $ -     $ -  
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

Year Ending December 31:

 

Amount

 
         

2028

  $ 9,201  

2029

    8,319  

2030

    16,432  

2031

    35,071  

2032

    29,754  

Total

  $ 98,777  
XML 34 R12.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note E - Income Taxes
9 Months Ended
Sep. 30, 2013
Policy Text Block [Abstract]  
Income Tax, Policy [Policy Text Block]

NOTE E – INCOME TAXES


The income tax provision differs from the amount computed by applying the U.S. federal and state statutory corporate income tax rates as follows:


   

Nine Months Ended

 
   

September 30,

 
   

2013

   

2012

 
                 

U.S Statutory Corporate Income Tax Rate

    (34.0

)%

    (34.0

%)

State Income Tax

    (7.0

)%

    (7.0

%)

Change in Valuation Allowance on Deferred Tax Asset

    41.0

%

    41.0

%

Effective Rate

    -

%

    -

%


Net deferred tax assets and liabilities consist of the following components:


   

September 30,

   

December 31

 
   

2013

   

2012

 

Deferred tax assets:

               

Net operating loss carry-forward

  $ 42,211     $ 40,499  

Valuation Allowance

    (42,211

)

    (40,499

)

Net Deferred tax assets

  $ -     $ -  

Based upon historical net losses and the Company being in the development stage, management believes that it is not more likely than not that the deferred tax assets will be realized and has provided a valuation allowance of 100% of the deferred tax asset. The valuation allowance increased by $1,712 and $12,200 in the nine months ended September 30, 2013 and year ended December 31, 2012, respectively.


The Company's net operating loss carry-forward amounting to $98,777 at December 31, 2012, expires as follows:


Year Ending December 31:

 

Amount

 
         

2028

  $ 9,201  

2029

    8,319  

2030

    16,432  

2031

    35,071  

2032

    29,754  

Total

  $ 98,777  

XML 35 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statement of Stockholders' Deficit Period From November 16, 2005 (Inception) to September 30, 2013 (Unaudited) (Parentheticals) (USD $)
Dec. 31, 2008
Shares Issued July 15, 2008 A [Member]
Dec. 31, 2008
Shares Issued July 15, 2008 B [Member]
Dec. 31, 2008
Shares Issued July 15, 2008 C [Member]
Dec. 31, 2010
Shares Issued March 29, 2010 [Member]
Dec. 31, 2010
Shares Issued August 18, 2010 [Member]
Dec. 31, 2011
Shares Issued March 17, 2011 [Member]
Dec. 31, 2011
Shares Issued March 25, 2011 [Member]
Dec. 31, 2011
Shares Issued November 15, 2011 [Member]
Dec. 31, 2011
Shares Issued November 21, 2011 [Member]
Dec. 31, 2012
Shares Issued February 8, 2012 A [Member]
Dec. 31, 2012
Shares Issued February 8, 2012 B [Member]
Dec. 31, 2012
Shares Issued February 14, 2012 [Member]
Dec. 31, 2012
Shares Issued March 17, 2012 [Member]
Dec. 31, 2012
Shares Issued August 9, 2012 A [Member]
Dec. 31, 2012
Shares Issued August 9, 2012 B [Member]
Dec. 31, 2012
Shares Issued August 9, 2012 C [Member]
Sep. 30, 2013
Shares Issued March 14, 2013 [Member]
Sep. 30, 2013
Shares Issued May 24, 2013 [Member]
Sep. 30, 2013
Shares Issued August 7, 2013 [Member]
Sep. 30, 2013
Shares Issued September 10, 2013 [Member]
Share price $ 0.001 $ 0.001 $ 0.005 $ 0.006 $ 0.009 $ 0.009 $ 0.009 $ 0.009 $ 0.009 $ 0.009 $ 0.008 $ 0.008 $ 0.008 $ 0.007 $ 0.007 $ 0.007 $ 0.007 $ 0.007 $ 0.006 $ 0.006
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Note E - Income Taxes (Details) (USD $)
9 Months Ended 12 Months Ended
Sep. 30, 2013
Dec. 31, 2012
Policy Text Block [Abstract]    
Valuation Allowances and Reserves, Period Increase (Decrease) $ 1,712 $ 12,200
Operating Loss Carryforwards $ 98,777 $ 98,777
XML 38 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
Accounting Policies, by Policy (Policies)
9 Months Ended
Sep. 30, 2013
Accounting Policies [Abstract]  
Basis of Accounting, Policy [Policy Text Block]

Unaudited Interim Financial Statements


The accompanying unaudited interim consolidated financial statements as of September 30, 2013, and for the three and nine month periods ended September 30, 2013 and 2012 have been prepared in accordance with accounting principles generally accepted for interim financial statement presentation and in accordance with the instructions to Form 10-Q. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statement presentation. They should be read in conjunction with the Company’s annual report on Form 10-K for the year ended December 31, 2012. In the opinion of management, the financial statements contain all adjustments (consisting only of normal recurring accruals) necessary to fairly present the financial position as of September 30, 2013 and the results of operations for the three and nine month periods ended September 30, 2013 and 2012 and cash flows for the nine months ended September 30, 2013 and 2012. The results of operations for the nine months ended September 30, 2013 are not necessarily indicative of the results to be expected for the full year.

Consolidation, Policy [Policy Text Block]

Principles of Consolidation


The consolidated financial statements include the accounts of Classic Rules Judo Championships, Inc. and its wholly owned subsidiary Classic Rules World Judo Championships, Inc. All significant inter-company balances and transactions have been eliminated in consolidation.

Use of Estimates, Policy [Policy Text Block]

Use of Estimates


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 revenue and expenses during the reporting period. Actual results could differ from those estimates.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and Cash Equivalents


The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The Company had no cash equivalents at September 30, 2013 or December 31, 2012.

Fair Value of Financial Instruments, Policy [Policy Text Block]

Fair Value of Financial Instruments:


Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic No. 825, “Financial Instruments” (“Topic No. 825”) requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. Topic No. 825 defines fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. At September 30, 2013 and December 31, 2012 the carrying value of the Company’s cash, stock subscription receivable, accounts payable, accrued expenses, and advance from officer approximates fair value due to the short-term nature of these financial instruments.

Revenue Recognition, Policy [Policy Text Block]

Revenue Recognition


The Company recognizes revenue from participant entry fees and spectator fees upon collection since it is the Company’s policy to not issue refunds.

Compensation Related Costs, Policy [Policy Text Block]

Equity-Based Compensation


The Company accounts for equity-based compensation transactions with employees under the provisions of ASC Topic No. 718, “Compensation, Stock Compensation” (“Topic No. 718”). Topic No. 718 requires the recognition of the fair value of equity-based compensation in net earnings. The fair value of common stock issued for compensation is measured at the market price on the date of grant. The fair value of the Company’s equity instruments, other than common stock, is estimated using a Black-Scholes option valuation model. This model requires the input of highly subjective assumptions and elections including expected stock price volatility and the estimated life of each award. In addition, the calculation of equity-based compensation costs requires that we estimate the number of awards that will be forfeited during the vesting period. The fair value of equity-based awards granted to employees is amortized over the vesting period of the award and the Company elects to use the straight-line method for awards granted after adoption of Topic No. 718.


Equity-Based Compensation (Continued)


The Company accounts for equity-based transactions with non-employees under provisions of ASC Topic No. 505-50, “Equity-Based Payments to Non-Employees” (“Topic No. 505-50”). Topic No. 505-50 establishes that equity-based payment transactions with non-employees shall be measured at the fair value of the consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. The fair value of common stock issued for payments to non-employees is measured at the market price on the date of grant. The fair value of equity instruments, other than common stock, is estimated using the Black-Scholes option valuation model. In general, the Company recognizes an asset or expense in the same manner as if it was to pay cash for the goods or services instead of paying with or using the equity instrument.

Advertising Costs, Policy [Policy Text Block]

Advertising Expense


The Company expenses advertising costs as incurred.

Earnings Per Share, Policy [Policy Text Block]

Net Loss Per Common Share


The Company computes basic net loss per common share by dividing the net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted loss per share is computed using the weighted average number of shares of common stock and dilutive common equivalent shares outstanding during the year. Common equivalent shares from stock options and other common stock equivalents are excluded from the computation when their effect is anti-dilutive. There were no common stock equivalents outstanding at September 30, 2013 and December 31, 2012.

Income Tax Disclosure [Text Block]

Income Taxes


The Company accounts for income taxes in accordance with ASC Topic No. 740, Income Taxes (“Topic No. 740”) which requires the use of the liability method of accounting for income taxes. The liability method measures deferred income taxes by applying enacted statutory rates in effect at the balance sheet date to the differences between the tax basis of assets and liabilities and their reported amounts on the financial statements. The resulting deferred tax assets or liabilities are adjusted to reflect changes in tax laws as they occur. A valuation allowance is provided when it is more likely than not that a deferred tax asset will not be realized. At September 30, 2013 and December 31, 2012, the entire deferred tax asset, which arises from our net operating losses, has been fully reserved because management has determined that it is not more likely than not that the net operating loss carry forwards will be realized in the future. 


Income Taxes (Continued)


The Company recognizes and measures uncertain tax positions and records tax benefits when it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Company recognizes interest and penalties as a component of income tax expense. At September 30, 2013 and 2012 the Company did not have any unrecognized tax benefits and has not accrued any liability for the payment of tax related interest or penalties. The Company currently has no federal or state tax examinations in progress nor has it had any federal or state tax examinations since inception.

Development Stage Enterprise General Disclosures [Text Block]

Development Stage Enterprise


The Company is a development stage enterprise, as defined in ASC Topic No. 915 “Development Stage Entities”. To date, the Company’s planned principal operations have not fully commenced.

Subsequent Events, Policy [Policy Text Block]

Subsequent Events


In accordance with Topic No. 855 “Subsequent Events” the Company evaluated subsequent events, which are events or transactions that occurred after September 30, 2013 through the date of the issuance of the accompanying consolidated financial statements.

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Issued Accounting Pronouncements


Management does not believe that any recently issued but not yet effective accounting pronouncements, if adopted, would have an effect on the accompanying consolidated financial statements.

XML 39 R22.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note E - Income Taxes (Details) - Operating Loss Carry-forward Expiration Periods (USD $)
9 Months Ended
Sep. 30, 2013
Dec. 31, 2012
Sep. 30, 2013
Expiring 2028 [Member]
Sep. 30, 2013
Expiring 2029 [Member]
Sep. 30, 2013
Expiring 2030 [Member]
Sep. 30, 2013
Expiring 2031 [Member]
Sep. 30, 2013
Expiring 2032 [Member]
Note E - Income Taxes (Details) - Operating Loss Carry-forward Expiration Periods [Line Items]              
Operating loss carry-forward expiration date     Dec. 31, 2028 Dec. 31, 2029 Dec. 31, 2030 Dec. 31, 2031 Dec. 31, 2032
Operating loss carry-forward $ 98,777 $ 98,777 $ 9,201 $ 8,319 $ 16,432 $ 35,071 $ 29,754
XML 40 R20.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note E - Income Taxes (Details) - Effective Income Tax Rate Reconciliation
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Effective Income Tax Rate Reconciliation [Abstract]    
U.S Statutory Corporate Income Tax Rate (34.00%) (34.00%)
State Income Tax (7.00%) (7.00%)
Change in Valuation Allowance on Deferred Tax Asset 41.00% 41.00%
Effective Rate 0.00% 0.00%
XML 41 R1.htm IDEA: XBRL DOCUMENT v2.4.0.8
Document And Entity Information
9 Months Ended
Sep. 30, 2013
Nov. 19, 2013
Document and Entity Information [Abstract]    
Entity Registrant Name Classic Rules Judo Championships, Inc.  
Document Type 10-Q  
Current Fiscal Year End Date --12-31  
Entity Common Stock, Shares Outstanding   16,388,310
Amendment Flag false  
Entity Central Index Key 0001445831  
Entity Current Reporting Status Yes  
Entity Voluntary Filers No  
Entity Filer Category Smaller Reporting Company  
Entity Well-known Seasoned Issuer No  
Document Period End Date Sep. 30, 2013  
Document Fiscal Year Focus 2013  
Document Fiscal Period Focus Q3  
XML 42 R21.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note E - Income Taxes (Details) - Deferred Tax Assets And Liabilities (USD $)
Sep. 30, 2013
Dec. 31, 2012
Deferred Tax Assets And Liabilities [Abstract]    
Net operating loss carry-forward $ 42,211 $ 40,499
Valuation Allowance (42,211) (40,499)
Net Deferred tax assets $ 0 $ 0