Newpoint Financial (NPFC) 10-Q 19 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 18, 2017
Document And Entity Information
Entity Registrant Name	JUDO Capital Corp.
Entity Central Index Key	1,445,831
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		69,322,426
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,017

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Current assets
Cash	$ 3,662	$ 4,787
Prepaid expenses	3,750	5,250
Total current assets	7,412	10,037
Total assets	7,412	10,037
Current liabilities
Accounts payable and accrued liabilities	12,878	9,805
Interest payable	208
Related party note payable	20,000
Total current liabilities	33,086	9,805
Stockholders' equity (deficit)
Preferred stock; $0.001 par value; 50,000,000 shares authorized; none issued or outstanding
Common stock, $0.001 par value; 100,000,000 shares authorized; 69,322,426 shares issued and outstanding	69,322	69,322
Additional paid-in capital	278,825	278,825
Accumulated deficit	(373,821)	(347,915)
Total stockholders' equity (deficit)	(25,674)	232
Total liabilities and stockholders' equity (deficit)	$ 7,412	$ 10,037

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
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	0
Preferred stock, outstanding	0	0
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	69,322,426	69,322,426
Common stock, outstanding	69,322,426	69,322,426

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating expenses
General and administrative	$ 25,698	$ 7,885
Total operating expenses	25,698	7,885
Loss from operations	(25,698)	(7,885)
Other expense
Interest expense	(208)
Total other expense	(208)
Net loss	$ (25,906)	$ (7,885)
Basic and diluted income (loss) per common share	$ 0	$ 0
Weighted average shares outstanding	69,322,426	69,322,426

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities
Net loss	$ (25,906)	$ (7,885)
Changes in operating liabilities:
Prepaid expenses	1,500
Accounts payable and accrued liabilities	3,073	5,690
Interest payable	208
Net cash used in operating activities	(21,125)	(2,195)
Cash flows from financing activities
Proceeds from to related parties	20,000
Net cash provided by financing activities	20,000
Net change in cash	(1,125)	(2,195)
Cash at beginning of period	4,787	9,044
Cash at end of period	3,662	6,849
Supplemental cash flow information
Cash paid for interest
Cash paid for income taxes

Note A - Organization and Natur

Note A - Organization and Nature of Busienss	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Note A - Organization and Nature of Business	NOTE A – ORGANIZATION AND NATURE OF BUSINESS Judo Capital Corp. 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 then to Judo Capital Corp on February 15, 2017. 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". On June 2, 2014, the Company ceased its principal activities of hosting and sponsoring judo tournaments. The Company plans to operate in real estate investment activities focused in the New York City metropolitan area. Unaudited Interim Financial Statements The accompanying unaudited interim consolidated financial statements as of March 31, 2017, and for the three months ended March 31, 2017 and 2016 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, 2016. 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 March 31, 2017 and the results of operations for the three months ended March 31, 2017 and 2016 and cash flows for the three months ended March 31, 2017 and 2016. The results of operations for the three months ended March 31, 2017 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 Judo Capital Corp. and its wholly owned subsidiary Classic Rules World Judo Championships, Inc. All intercompany balances and transactions have been eliminated in consolidation.

Note B - Going Concern

Note B - Going Concern	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
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. As of March 31, 2017, the Company had a working capital deficit of $25,674 and accumulated deficit of $373,821. 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. 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.

Note C - Stockholders Equity

Note C - Stockholders Equity	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Note C - Stockholders Equity	NOTE C – 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. There were no shares of preferred stock issued or outstanding at Mach 31, 2017 or December 31, 2016. Common Stock The Company is authorized to issue 100,000,000 shares of common stock with a par value of $0.001 per share. There were 69,322,426 shares issued and outstanding at March 31, 2017 and December 31, 2016.

Note D - Related Party Transact

Note D - Related Party Transactions and Note Payable	3 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
Note D - Related Party Transactions and Note Payable	NOTE D – RELATED PARTY TRANSACTIONS AND NOTE PAYABLE During the three months ended March 31, 2017, the Company entered into a $20,000 note payable its Chief Executive Officer, Lorenzo DeLuca. The note accrues interest a rate of 10% per annum and is due within ten days of demand. There was $20,000 of principal and accrued interest total $208 due as of March 31, 2017.

Note E - Commitments

Note E - Commitments	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Note E - Commitments	NOTE E – COMMITMENTS In February, 2017, the Company entered into various non-exclusive real estate agency agreements whereby the agent agreed to assist and locate in the purchases of distressed real estate assets on behalf of the Company for compensation in the minimum amount per sucessful completed transaction in the amount of 1% of the aggregate consideration paid for the asset.

Note F - Subsequent Events

Note F - Subsequent Events	3 Months Ended
	Mar. 31, 2017
Subsequent Events [Abstract]
Note F - Subsequent Events	NOTE F – SUBSEQUENT EVENTS On May 15, 2017, the Company terminated its credit line facility with its Chief Executive Officer, Lorenzo DeLuca, that was entered into in October 2015. The Company had not drawn on the credit facility and there was no principal or accrued interest due at the time of termination.

Note A - Organization and Nat12

Note A - Organization and Nature of Busienss (Policies)	3 Months Ended
	Mar. 31, 2017
Note - Organization And Nature Of Busienss Policies
Organization	ORGANIZATION AND NATURE OF BUSINESS Judo Capital Corp. 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 then to Judo Capital Corp on February 15, 2017. 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". On June 2, 2014, the Company ceased its principal activities of hosting and sponsoring judo tournaments. The Company plans to operate in real estate investment activities focused in the New York City metropolitan area.
Unaudited Interim Financial Statements	Unaudited Interim Financial Statements The accompanying unaudited interim consolidated financial statements as of March 31, 2017, and for the three months ended March 31, 2017 and 2016 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, 2016. 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 March 31, 2017 and the results of operations for the three months ended March 31, 2017 and 2016 and cash flows for the three months ended March 31, 2017 and 2016. The results of operations for the three months ended March 31, 2017 are not necessarily indicative of the results to be expected for the full year.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Judo Capital Corp. and its wholly owned subsidiary Classic Rules World Judo Championships, Inc. All intercompany balances and transactions have been eliminated in consolidation.

Note B - Going Concern (Details

Note B - Going Concern (Details Narrative) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Working Capital Deficit	$ 25,674
Accumulated deficit	$ (373,821)	$ (347,915)

Note C - Stockholders Equity (D

Note C - Stockholders Equity (Details Narrative) - shares	Mar. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Preferred stock, outstanding	0	0
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	69,322,426	69,322,426
Common stock, outstanding	69,322,426	69,322,426

Note D - Related Party Transa15

Note D - Related Party Transactions and Note Payable (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Related Party Transactions [Abstract]
Due to related parties	$ 20,000
Interest Rate	10.00%
Interest payable	$ 208

Note E - Commitments (Details)

Note E - Commitments (Details)	3 Months Ended
	Mar. 31, 2017
Note E - Commitments Details
Commitment	1.00%