When used in this report on Form 10-K, the words "may," "will," "expect," "anticipate," "continue," "estimate," "project," "intend," and similar expressions are intended to identify forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 regarding events, conditions, and financial trends that may affect the Company's future plans of operations, business strategy, operating results, and financial position. Persons reviewing this report are cautioned that any forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties and that actual results may differ materially from those included within the forward-looking statements as a result of various factors. Such factors are discussed under the headings "Item 1. Business" and "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations," and also include general economic factors and conditions that may directly or indirectly impact the Company's financial condition or results of operations.

Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Moreover, we do not assume responsibility for the accuracy and completeness of such forward-looking statements. We are under no duty to update any of the forward-looking statements after the date of this report to conform such statements to actual results.

The Company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date made, are based on certain assumptions and expectations which may or may not be valid or actually occur, and which involve various risks and uncertainties, including but not limited to the risks set forth above. In addition, sales and other revenues may not commence and/or continue as anticipated due to delays or otherwise. As a result, the Company's actual results for future periods could differ materially from those anticipated or projected.


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Overview

Newpoint Financial Corp. ("Newpoint") 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. on July 15, 2008 then to Judo Capital Corp on February 15, 2017. The entity is referred to as "the Company". The Company 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; this subsidiary is no longer active and has ceased to exist. On June 2, 2014, the Company ceased its principal activities of hosting and sponsoring judo tournaments and dissolved Classic Rules World Judo Championships, Inc. The Company had planned to operate in real estate investment market focused in the New York City metropolitan area. On February 28, 2018, the Company ceased its plans to operate in the real estate investment activities. On January 19, 2021, the Company had a 500-1 reverse stock split with FINRA and Change of Control. On February 9, 2021, new officers and directors were elected and the name of the Company was changed to Newpoint Financial Corp. (Delaware).





Critical Accounting Policies



Use of Estimates

The Company's financial statements are prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP). The preparation of the financial statements requires the Company to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and related disclosures. Though the Company evaluates the estimates and assumptions on an ongoing basis, our actual results may differ from these estimates.

Certain of the Company's accounting policies that we believe are the most important to the portrayal of the Company's financial condition and results of operations and that require management's subjective judgments are described below to facilitate a better understanding of our business activities. Management bases its judgments on its experience and assumptions which it believes are reasonable and applicable under the circumstances.





Revenue Recognition

The Company has not yet generated revenues from its planned activities.





Results of Operations

Revenues. The Company had no revenue during the year ended December 31, 2020 or December 31, 2019.

Cost of Revenues. The Company had no cost of revenue for the years ended December 31, 2020 or December 31, 2019.

General and Administrative Expenses. The Company incurred general and administrative expenses of $1,246 and $865 during the years ended December 31, 2020 and December 31, 2019, respectively. The increase is related to filings fees associated with the SEC for annual and quarterly reports.

Professional Expenses. The Company incurred professional expenses of $14,012 and $13,743 during the years ended December 31, 2020 and 2019, respectively. The increase is related to accounting and auditor fees associated with filings with the SEC for annual and quarterly reports.

Operating loss. As a result of the Company's general and administrative expenses and professional expenses, the Company incurred an operating loss of $15,258 and $14,608 for the years ended December 31, 2020 and December 31, 2019, respectively.

Other Income (Expense). The Company incurred interest expense of $3,000 during the years ended December 31, 2020 and December 31, 2019, respectively. The Company recognized a gain on debt forgiveness of $7,805 during the year ended December 31, 2020.

Net Loss. The Company incurred a net loss of $10,453 and $17,608 during the years ended December 31, 2020 and December 31, 2019, respectively.

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Liquidity and Capital Resources

At December 31, 2019, we had cash of $78, with current assets totaling $78 and current liabilities totaling $83,390 creating a working capital deficit of $83,312. Current liabilities consisted of accounts payable and accrued liabilities totaling $12,299, related party payable of $16,885, related party interest payable of $8,156 and a related party loan payable of $46,050.

At December 31, 2020, we had cash of $0, with current assets totaling $0 and current liabilities totaling $93,765 creating a working capital deficit of $93,765. Current liabilities consisted of accounts payable and accrued liabilities totaling $6,730, related party payable of $29,829, related party interest payable of $11,156 and a related party loan payable of $46,050.





Share Issuances

There were no common or preferred shares issued during the years ended December 31, 2020 or December 31, 2019.





Cash Flows

Net cash used in operating activities were $78 and $7,203 during the years ended December 31, 2020 and December 31, 2019, respectively. Net cash used in operating activities during the year ended December 31, 2020 consisted of a net loss of $10,453. Net cash used in operating activities during the year ended December 31, 2019 consisted of a net loss of $17,608.

Net cash provided by financing activities were $0 and $7,050 during the years ended December 31, 2020 and December 31, 2019, respectively. Net cash provided by financing activities during the year ended December 31, 2019 consisted of cash received from related party loans of $7,050 from related parties.

Our auditor has raised (under note 2), in their current audit report, a substantial doubt about our ability to continue as a going concern. We will be unable to continue as a going concern if we are not able to raise capital and are unsuccessful in securing a business acquisition. Until such time as sufficient capital is raised, we intend to limit expenditures for capital assets and other expense categories. The new Directors of the Company have provided assurance to the auditor that the business plan envisaged by the new owners will demonstrate clearly to the auditors the ability to generate revenues and profits.

The Company must currently rely on corporate officers, directors and outside investors in order to meet its budget. If the Company is unable to obtain financing from any of one of these aforementioned sources, the Company would not be able to satisfy its financial obligations. Limited commitments to provide additional funds have been made by management and other shareholders. We cannot provide any assurance that any additional funds will be made available on acceptable terms or at all.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future material effect on us.

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