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EXCEL - IDEA: XBRL DOCUMENT - Classic Rules Judo Championships, Inc.Financial_Report.xls
10-Q - FORM 10-Q - Classic Rules Judo Championships, Inc.f10q-judo.htm
XML - IDEA: XBRL DOCUMENT - Classic Rules Judo Championships, Inc.R5.htm
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EX-21.1 - SUBSIDIARIES - Classic Rules Judo Championships, Inc.f10q_211-judo.htm
EX-31.1 - RULE 13A-14(A) / 15D-14(A) CERTIFICATION OF CHIEF EXECUTIVE OFFICER - Classic Rules Judo Championships, Inc.f10q_311-judo.htm
EX-32.1 - SECTION 1350 CERTIFICATIONS OF CEO - Classic Rules Judo Championships, Inc.f10q_321-judo.htm
EX-32.2 - SECTION 1350 CERTIFICATIONS OF CFO - Classic Rules Judo Championships, Inc.f10q_322-judo.htm
EX-31.2 - RULE 13A-14(A) / 15D-14(A) CERTIFICATION OF CHIEF FINANCIAL OFFICER - Classic Rules Judo Championships, Inc.f10q_312-judo.htm
v2.4.0.6
Note B - Going Concern
9 Months Ended
Sep. 30, 2012
Notes  
Note B - Going Concern

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 had minimal revenues since inception, has incurred a net loss of $18,883 for the nine months ended September 30, 2012, has a deficit accumulated during the development stage of $88,297, 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.