UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-KSB

(Mark One)x  ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended June 30, 2010

 ̈  TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
  For the transition period from _______________ to ______________

Commission file number: 000-31154

Nevada Classic Thoroughbreds, Inc.
    (Name of small business issuer in its charter)

Nevada
        86-1007952(State or other jurisdiction of incorporation
            or organization)
        (I.R.S. EIN)18750 E. Reins Rd.,Queen Creek,AZ
        85142(Address of principal executive offices)
        (Zip Code)


Issuer's telephone number:(480) 890-0678

Securities registered under Section 12(b) of the Exchange Act:None

Securities registered under 12(g) of the Exchange Act:Common Stock
    (Title of Class)

Ranch Preferred Stock
    (Title of Class)

Horse Preferred Stock
(Title of Class)

---




Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 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.       YesX       No

Check if there is no disclosure of delinquent filers in response to Item 405 of Regulation S-B is not contained in this form, and no disclosure will be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this form 10-KSB or any amendment to this Form 10-KSB. X

State issuer's revenues for its most recent fiscal year. $0.00

State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was sold, or the average bid and asked price of such common equity, as of a specified date within the past 60 days. (See definition of affiliate in Rule 12b-2 of the Exchange Act.)

Not Applicable

(ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PAST FIVE YEARS)

Not Applicable

(APPLICABLE ONLY TO CORPORATE REGISTRANTS)

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date.

1,900,000 shares Common Stock
         4,000,000 shares Preferred Stock (2,000,000 shares Ranch Preferred and 2,000,000 shares Horse Preferred) ****Transitional Small Business Disclosure Format (Check one):       Yes      No X

2




TABLE OF CONTENTS

PAGEPART I:Item 1:
        Description of Business
        4Item 2:
        Description of Property
        5Item 3:
        Legal Proceedings
        5Item 4:
        Submission of Matters to a Vote of Security Holders
        5PART II:Item 5:
        Market for Common Equity and Related Stockholder Matters
        5Item 6:
        Management's Discussion and Analysis or Plan of Operation
        6Item 7:
        Financial Statements
        6Item 8:
        Changes In and Disagreements With Accountants on Accounting and Financial Disclosure
        188a:
        Effectiveness of the Company's Controls and Procedures
        18PART III:Item 9:
        Directors, Executive Officers, Promoters and Control Persons; Compliance With Section 16(a) of the Exchange Act
        18Item 10:
        Executive Compensation
        18Item 11:
        Security Ownership of Certain Beneficial Owners and Management
        19Item 12:
        Certain Relationships and Related Transactions
        19Item 13:
        Exhibits and Reports on Form 8-K
        19SIGNATURES
        
        20


3




PART I:

ITEM 1: Description of Business.

Nevada Classic Thoroughbreds, Inc. (henceforth referred to as "NCT" or the "company") has developed a thoroughbred racing and breeding stallion, proprietary horse racing structure. The company is specialized, making it possible for one or two people to maintain the operation of the company.

The company's proprietary solution to the horse racing industry's challenge is ***Power Genetics*** ***Mathematical Racing NumbersTM***("***PGMRN***"), pre-potent characteristics in horses that can reproduce themselves.

MARKET

There are three distinct markets for the company's horses.

The first market is to race company horses in "claiming races." The claiming race is to enable people to buy the company's horses at the racetrack. This is a viable means of eliminating horses that are good but not quite able to compete at the top level of horse racing.

The second market is racing income from the racetrack. When the race horse races and performs well, NCT will receive income, or "purse money," from the winnings.

The third market is for the syndication of stallions. The stallions that possess outstanding pedigrees, conformation, and race records are syndicated into breeding shares. A breeding share entitles the share owner to breed one mare to the stallion in any one particular breeding season for the duration of the stallion's life.

The company is not dependent on only a few customers, since the horse racing industry's market is virtually nationwide, where the horses can be purchased or sold virtually throughout the entire United States. The company is not limited by its customers or limited by the location of its selected horses. These stallions are, almost without exception, readily available and accessible.

The company does not require governmental approval or licensing for any of its stallion racing or breeding prospects. However, the racetrack requires a normal training license where the horse is intended to race. The licensing is to provide safety for the horse and riders who train and compete at that specific track.

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4

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ITEM 2: Description of Property.

No horses at this time.

ITEM 3: Legal Proceedings.

Not Applicable.

ITEM 4: Submission of Matters to a Vote of Security Holders.

Not Applicable.

PART II:

ITEM 5: Market for Common Equity and Related Stockholder Matters.

There are no markets for the company's securities. The company is inactive at the present time.

The company intends to obtain a market maker for the company's common stock and horse preferred stock.

The market for the company's stock is in the heart of the horse racing and gaming industry. One or more market makers in either of the states of Kentucky, California, Nevada, or New York would suit the needs of the investors as well as providing the company with representation in the horse racing industry, thereby giving investors the flexibility of various security goals and the company with its liquidity to take advantage of opportunities as they arise. The company needs to meet the needs of its shareholders in their buying and selling of the company's securities, and in their investment objections, having available horse preferred stock in the horses the company acquires. Investors may want the the potential capital appreciation of the company's horses.

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5

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The company is now inactive, and plans to remain inactive until such time as new liquidity can be acquired for the purpose of purchasing additional stallion prospects.

*RESULT OF OPERATIONS*

***Power Genetics Mathematical Racing NumbersTM (PGMRN)***

*COMPETITION*

The competition is catching up to the company in one aspect of NCT's
    proprietary ***PGMRN*** Number Indexes, specifically Index 6. For
    example, *Lost In The Fog*, a horse-of-the-year candidate in 2005, won ten
    straight races before being defeated in the Breeders Cup Championship Series
    Sprint race. *Lost In The Fog* was analyzed by a company that analyzes
    efficiency of stride. According to the Breeders Cup announcers, they
    analyzed length of stride and time in the air, and he was selected for this
    quality. This would imply that some individuals are beginning to understand
    and apply the relationship of Index 6 to a quality of the race horse.

The competition is still behind the company in using the total Power Numbers in
    selecting horses for breeding and racing. The indicators are that some
    owners and trainers are willing to go through the expense of analyzing Index
    indicator Number 6 to help in their selection process, especially the select
    Kentucky sales, where horses are sold for millions of dollars. However, the
    other indicators seem to be unnoticed at the present time in comparing horses
    that have good indicators to those that do not. Their price seems to be
    relatively the same, and no correspondence seems to exist between the poor
    and good indicators and the prices at which they are sold. The thoroughbred
    sales in California and Texas have usually less expensive horses, and it is
    rare that anyone would go to the expense of analyzing these horses because of
    their lower auction prices. This gives the company a big advantage. The
    company can see the horses a day before the sale, analyze hundreds of horses
    using the complete Power Index Numbers rather than just Index 6, and purchase
    or bid on horses that have the complete package.

*MARKET MAKING*

The company is in the process of obtaining a market maker for its stock, and anticipates being on the Pink Sheets until the company meets the
    requirements of the OTC Bulletin Board. While the company is in the process
    of securing a market maker, there can be no guarantees that a market maker
    will be available, or that the company will meet their requirements in order
    to make a market for the company's securities.

*FINANCIAL CONDITION AND LIQUIDITY*

The Company expects to remain inactive. The Board of Directors intends to pay a substantial portion of the company's expenses, as determined on an on-going basis by the Board of Directors, until such time as the company is able to produce a profit.

The company is in solid financial condition at the present time. The officers and directors have paid the majority of the company's expenses, and the company enjoys a substantial cash basis in savings and in horse syndications.

ITEM 7: Financial Statements.

The following financial statements are attached to this 10-KSB Annual Report and filed as a part hereof.

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6

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NEVADA CLASSIC THOROUGHBREDS, INC. 
    (A Development Stage Company)

CONSOLIDATED FINANCIAL STATEMENTS 
    (Unaudited)

JUNE 30, 2010

Index to Financial Statements

FINANCIAL STATEMENTS
        PAGEBalance Sheet
        
        8Statement of Operations
        
        9Statement of Stockholders' Equity
        
        10Statement of Cash Flows
        
        12Notes to Financial Statements
        
        13


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7




BALANCE SHEET

FOR PERIOD ENDING JUNE 30, 2010

ASSETSJUNE 30, 2010
        
        
        
        JUNE 30, 2009CURRENT ASSETSCash
        
        
        
        $
        0
        
        
        
        $
        0Corporate Checking account
        
        
        
        
        0
        
        
        
        
        0Corporate Savings account
        
        
        
        
        0
        
        
        
        
        0Demirose LLC Checking account
        
        
        
        
        0
        
        
        
        
        0Syndication AccountsColt I (*Titan Up*) Checking Account
        
        
        
        
        0
        
        
        
        
        0Colt II (*Buster Beau*) Checking Account
        
        
        
        
        0
        
        
        
        
        0Colt (*Buster Beau*)1
        
        
        
        
        0
        
        
        
        
        0Colt (*Titan Up*) 1
        
        
        
        
        0
        
        
        
        
        01991 Ford Pickup Truck
        
        
        
        
        0
        
        
        
        
        2,5001986 Horse Trailer
        
        
        
        
        0
		
        
        
        
        2,000Horse Round Pen
        
        
        
        
        0
        
        
        
        
        0Pixel Pet Expo
        
        
        
        
        6,384
        
        
        
        
        6,384Demirosa LLC
        
        
        
        
        300
        
        
        
        
        300Real estate investment
        
        
        
        
        13,954
        
        
        
        
        13,954TOTAL ASSETS
        
        
        
        
        20,638
        
        
        
        
        25,138LIABILITIES AND STOCKHOLDERS' EQUITYCURRENT LIABILITIESAccounts payable
        
        
        
        $
        0
        
        
        
        $
        0Credit Line
        
        
        
        
        0
        
        
        
        
        0STOCKHOLDERS' EQUITYHorse and Ranch Preferred Stock,par value $.001 per shareAuthorized 5,000,000 (2,500,000 Horse Preferredand 2,500,000 Ranch Preferred) shares;4,000,000 shares issued and outstanding(2,000,000 Horse Preferred and 2,000,000 
                 Ranch Preferred)
        $
        4,000
        
        
        
        
        4,000Common stock,par value $.001 per shareAuthorized 5,000,000 shares1,900,000 shares issued andoutstanding
        
        1,900
        
        
        
        
        1,900Paid in capital in excess of par value of stock
        
        320
        
        
        
        
        4,378Stockholder receivable
        
        0
        
        
        
        
        0Deficits accumulated during developmental stage13
        
        (131,565
        )
        
        
        
        (131,245
        )TOTAL STOCKHOLDERS' EQUITY 1
        
        
        
        $
        20,638
        
        
        
        $
        25,138TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 1
        
        
        
        $
        20,638
        
        
        
        $
        25,138


See Accompanying Notes

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8




**STATEMENT OF OPERATIONS**

**FOR PERIOD ENDING JUNE 30, 2010**

JUNE 30, 2010
        
        
        
        JUNE 30, 2009REVENUE
        
        
        
        $
        
        
        
        
        
        $
        0EXPENSESAdministrative
        
        
        
        
        320
        
        
        
        
        205Marketing
        
        
        
        
        
        
        
        
        
        0General
        
        
        
        
        0
        
        
        
        
        4,378Colt (*Buster Beau*)Initial Expenses
        
        NA
        
        
        
        
        
        NAPasture, Board & Training
        $
        0
        
        
        
        
        $
        1,380Supplemental Feed
        
        0
        
        
        
        
        0Veterinarian & Ferrier
        
        0
        
        
        
        
        
        
        4780
        
        
        
        
        1,858Colt (*Titan Up*)Initial Expenses
        
        NA
        
        
        
        
        
        NAPasture, Board & Training
        $
        0
        
        
        
        
        $
        2,395Supplemental Feed
        
        0
        
        
        
        
        0Veterinarian & Ferrier
        
        0
        
        
        
        
        
        
        1250
        
        
        
        
        2,520SEC Accounting
        
        
        
        
        $
        0
        
        
        
        $
        0TOTAL EXPENSES
        
        
        
        
        $
        320
        
        
        
        
        4,583NET (LOSS)
        
        
        
        
        $
        (320
        )
        
        
        $
        (4,583
        )NET (LOSS) PER COMMON SHAREBasic and diluted
        
        
        
        $
        ( .00
        )
        
        
        $
        ( .00
        )WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDINGBasic and diluted
        
        
        
        1,900,000
        
        
        
        
        1,900,000


See Accompanying Notes

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9




**STATEMENT OF STOCKHOLDERS' EQUITY**

**FOR THE PERIOD FROM INCEPTION (NOVEMBER 1, 2000) TO JUNE 30, 2010**

|Common and Preferred Stock                                                                                                              
|----------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                        
|COMMON STOCK
        Balance at Inception - November 1, 2000.                                                                           
|PREFERRED STOCKBalance at inception - November 1, 2000                                                                                  
|                                                                                                                                        
|COMMON STOCK Balance - June 2001                                                                                                        
|PREFERRED STOCK Balance - June 30, 2001                                                                                                 
|                                                                                                                                        
|COMMON Stock issued to Operations Manager for services. Donated back to company for future disbursement for period ending June 30, 2002 
|COMMON STOCK Balance - June 2002                                                                                                        
|PREFERRED STOCK Balance - June 30, 2002                                                                                                 
|                                                                                                                                        
|COMMON Stock issued to Operations Manager for services. Donated back to company for future disbursement, for period ending June 30, 2003
|COMMON STOCK Balance - June 30, 2003                                                                                                    
|PREFERRED STOCK  Balance - June 30, 2003                                                                                                
|                                                                                                                                        
|COMMON Stock split 20:1 April 5, 2004                                                                                                   
|COMMON Stock issued to Operations Manager for services. Donated back to company for future disbursement, for period ending June, 2004   
|COMMON STOCK Balance - June 30, 2004                                                                                                    
|PREFERRED STOCK Balance - June 30, 2004                                                                                                 
|                                                                                                                                        
|COMMON STOCK Balance - June 2005                                                                                                        
|PREFERRED STOCK split 800:1 June 30, 2005                                                                                               
|Preferred Stock divided into Ranch Preferred and Horse Preferred, as follows:                                                           
|Ranch Preferred:                                                                                                                        
|Horse Preferred:                                                                                                                        
|Preferred Dividends to common stock shareholders from Preferred Stock, as follows:                                                      
|Ranch Preferred:                                                                                                                        
|Horse Preferred:                                                                                                                        
|                                                                                                                                        
|COMMON STOCK Balance - June 2006                                                                                                        
|PREFERRED STOCK - June 2006                                                                                                             
|Preferred Stock divided into Ranch Preferred and Horse Preferred, as follows:                                                           
|Ranch Preferred:                                                                                                                        
|Horse Preferred:                                                                                                                        
|Preferred Dividends to common stock shareholders from Preferred Stock, as follows:                                                      
|Ranch Preferred:                                                                                                                        
|Horse Preferred:                                                                                                                        
|                                                                                                                                        
|COMMON STOCK Balance - June 2007                                                                                                        
|PREFERRED STOCK - June 2007                                                                                                             
|Preferred Stock divided into Ranch Preferred and Horse Preferred, as follows:                                                           
|Ranch Preferred:                                                                                                                        
|Horse Preferred:                                                                                                                        
|Preferred Dividends to common stock shareholders from Preferred Stock, as follows:                                                      
|Ranch Preferred:                                                                                                                        
|Horse Preferred:                                                                                                                        
|                                                                                                                                        
|COMMON STOCK Balance - June 2008                                                                                                        
|PREFERRED STOCK - June 2008                                                                                                             
|Preferred Stock divided into Ranch Preferred and Horse Preferred, as follows:                                                           
|Ranch Preferred:                                                                                                                        
|Horse Preferred:                                                                                                                        
|Preferred Dividends to common stock shareholders from Preferred Stock, as follows:                                                      
|Ranch Preferred:                                                                                                                        
|Horse Preferred:                                                                                                                        
|
|                                                                                                                                        
|COMMON STOCK Balance - June 2009                                                                                                        
|PREFERRED STOCK - June 2009                                                                                                             
|Preferred Stock divided into Ranch Preferred and Horse Preferred, as follows:                                                           
|Ranch Preferred:                                                                                                                        
|Horse Preferred:                                                                                                                        
|Preferred Dividends to common stock shareholders from Preferred Stock, as follows:                                                      
|Ranch Preferred:                                                                                                                        
|Horse Preferred:                                                                                                                        
|                                                                                                                                        
|COMMON STOCK Balance - June 2010                                                                                                        
|PREFERRED STOCK - June 2010                                                                                                             
|Preferred Stock divided into Ranch Preferred and Horse Preferred, as follows:                                                           
|Ranch Preferred:                                                                                                                        
|Horse Preferred:                                                                                                                        
|Preferred Dividends to common stock shareholders from Preferred Stock, as follows:                                                      
|Ranch Preferred:                                                                                                                        
|Horse Preferred:                                                                                                                        
|                                                                                                                                        
|COMMON STOCK Net Loss from inception                                                                                                    
|PREFERRED STOCK Net Loss from inception                                                                                                 
|                                                                                                                                        

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10




**STATEMENT OF STOCKHOLDERS' EQUITY (Continued)**

**FOR THE PERIOD FROM JUNE 30, 2009 TO JUNE 30, 2010**

|UNAUDITED
        JUNE 30, 2010                                         |                                                                                   | UNAUDITED
        JUNE 30, 2009 |                                                                         |                                                                                   |  |  |  |  |  | 
|----------------------------------------------------------------------- | --------------------------------------------------------------------------------- | ------------------------------- | ----------------------------------------------------------------------- | --------------------------------------------------------------------------------- |  |  |  |  |  | 
|Paid in Capital
        in Excess of
        Par Value
        of Stock | Deficit
        Accumulation
        during the
        Development
        Stage |                                 | Paid in Capital
        in Excess of
        Par Value
        of Stock | Deficit
        Accumulation
        during the
        Development
        Stage |  |  |  |  |  | 
|AT DATE OF INCEPTION                                                   
|0                                                                       | 0                                                                                 |                                 | 0                                                                       | 0                                                                                 |  |  |  |  |  | 
|NOVEMBER 1, 2000 - STOCK ISSUED TO FOUNDERS                            
|Preferred                                                              
|(4,000)                                                                 | 0                                                                                 |                                 | (4,000)                                                                 | 0                                                                                 |  |  |  |  |  | 
|Common                                                                 
|(1,900)                                                                 | 0                                                                                 |                                 | (1,900)                                                                 | 0                                                                                 |  |  |  |  |  | 
|FAIR MARKET VALUE OF SERVICES DONATED BY STOCKHOLDERS                  
|0                                                                       | 0                                                                                 |                                 | 0                                                                       | (0 )                                                                              |  |  |  |  |  | 
|INCREASE IN PAID IN CAPITAL FOR PAYMENT OF EXPENSES BY STOCKHOLDERS    
|320                                                                     | 0                                                                                 |                                 | 16,595                                                                  | ( 0)                                                                              |  |  |  |  |  | 
|NET (LOSS) FOR EACH PERIOD SHOWN                                       
|320                                                                     | (16,915)                                                                          |                                 | 16,595                                                                  | (16,595)                                                                          |  |  |  |  |  | 
|BALANCE FOR EACH PERIOD SHOWN                                          
|320                                                                     | (127,362)                                                                         |                                 | 16,595                                                                  | (127,042)                                                                         |  |  |  |  |  | 



**FOR THE PERIOD FROM INCEPTION (NOVEMBER 1, 2000) TO JUNE 30, 2005**

|UNAUDITEDJUNE 30, 2005                                                              |                                                                                               | UNAUDITED
  JUNE 30, 2004 |                                                             | UNAUDITED
  JUNE 30, 2003                                         |  | UNAUDITED
  JUNE 30, 2002                                   |                                                                   | AUDITED
  JUNE 30, 2001 |                                                             | UNAUDITED
  JUNE 30, 2000                                        
|----------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------- | ------------------------- | ----------------------------------------------------------- | ----------------------------------------------------------------- |  | ----------------------------------------------------------- | ----------------------------------------------------------------- | ----------------------- | ----------------------------------------------------------- | -----------------------------------------------------------------
|Paid in Capital
            in Excess of
            Par Value
            of Stock | Deficit
            Accumulation
            during the
            Development
        Stage |                           | Paid in Capital
    in Excess of
    Par Value
    of Stock | Deficit
    Accumulation
    during the
    Development
    Stage |  | Paid in Capital
    in Excess of
    Par Value
    of Stock | Deficit
    Accumulation
    during the
    Development
    Stage |                         | Paid in Capital
    in Excess of
    Par Value
    of Stock | Deficit
    Accumulation
    during the
    Development
    Stage
|AT DATE OF INCEPTION                                                               
|0                                                                                   | 0                                                                                             |                           | 0                                                           | 0                                                                 |  | 0                                                           | 0                                                                 |                         | 0                                                           | 0                                                                
|NOVEMBER 1, 2000 - STOCK ISSUED TO FOUNDERS                                        
|Preferred                                                                          
|(4,000)                                                                             | 0                                                                                             |                           | (5)                                                         | 0                                                                 |  | (5)                                                         | 0                                                                 |                         | (5)                                                         | 0                                                                
|Common                                                                             
|(1,900)                                                                             | 0                                                                                             |                           | (1,900)                                                     | 0                                                                 |  | (93)                                                        | 0                                                                 |                         | (91)                                                        | 0                                                                
|FAIR MARKET VALUE OF SERVICES DONATED BY STOCKHOLDERS                              
|10,936                                                                              | (54,679)                                                                                      |                           | 10,936                                                      | (43,793)                                                          |  | 10,936                                                      | (32,807)                                                          |                         | 10,936                                                      | (21,871)                                                         
|INCREASE IN PAID IN CAPITAL FOR PAYMENT OF EXPENSES BY STOCKHOLDERS                
|1,760                                                                               | (13,041)                                                                                      |                           | 1,760                                                       | (11,281)                                                          |  | 1,760                                                       | (9,521)                                                           |                         | 3,797                                                       | (7,761)                                                          
|NET (LOSS) FOR EACH PERIOD SHOWN                                                   
|0                                                                                   | (12,696)                                                                                      |                           | 0                                                           | (12,696)                                                          |  | 0                                                           | (12,696)                                                          |                         | 0                                                           | (13,797)                                                         
|BALANCE FOR EACH PERIOD SHOWN                                                      
|12,696                                                                              | (67,720)                                                                                      |                           | 12,696                                                      | (53,956)                                                          |  | 12,696                                                      | (41,260)                                                          |                         | 13,814                                                      | (28,564)                                                         

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**CONTINUED -- FOR THE PERIOD FROM  JUNE 30, 2006 THROUGH JUNE 30, 2010**

|--                                                                                  |                                                                                               | UNAUDITED
JUNE 30, 2010 |                                                             | UNAUDITED
JUNE 30, 2009                                           |  | UNAUDITED
JUNE 30, 2008                                     |                                                                   | UNAUDITED
  JUNE 30, 2007 |                                                             | UNAUDITED
  JUNE 30, 2006                                        
|----------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------- | ----------------------- | ----------------------------------------------------------- | ----------------------------------------------------------------- |  | ----------------------------------------------------------- | ----------------------------------------------------------------- | ------------------------- | ----------------------------------------------------------- | -----------------------------------------------------------------
|Paid in Capital
            in Excess of
            Par Value
            of Stock | Deficit
            Accumulation
            during the
            Development
        Stage |                         | Paid in Capital
    in Excess of
    Par Value
    of Stock | Deficit
    Accumulation
    during the
    Development
    Stage |  | Paid in Capital
    in Excess of
    Par Value
    of Stock | Deficit
    Accumulation
    during the
    Development
    Stage |                           | Paid in Capital
    in Excess of
    Par Value
    of Stock | Deficit
    Accumulation
    during the
    Development
    Stage
|AT DATE OF INCEPTION                                                               
|--                                                                                  | --                                                                                            |                         | 0                                                           | 0                                                                 |  | 0                                                           | 0                                                                 |                           | 0                                                           | 0                                                                
|NOVEMBER 1, 2000 - STOCK ISSUED TO FOUNDERS                                        
|Preferred                                                                          
|--                                                                                  | --                                                                                            |                         | (4,000)                                                     | 0                                                                 |  | (4,000)                                                     | 0                                                                 |                           | (4,000)                                                     | 0                                                                
|Common                                                                             
|--                                                                                  | --                                                                                            |                         | (1,900)                                                     | 0                                                                 |  | (1,900)                                                     | 0                                                                 |                           | (1,900)                                                     | 0                                                                
|FAIR MARKET VALUE OF SERVICES DONATED BY STOCKHOLDERS                              
|--                                                                                  | --                                                                                            |                         | 0                                                           | 0                                                                 |  | 0                                                           | 0                                                                 |                           | 0                                                           | (93,146)                                                         
|INCREASE IN PAID IN CAPITAL FOR PAYMENT OF EXPENSES BY STOCKHOLDERS                
|--                                                                                  | --                                                                                            |                         | 320                                                         | (63,845)                                                          |  | 4,583                                                       | (63,525)                                                          |                           | 16,595                                                      | (58,942)                                                         
|NET (LOSS) FOR EACH PERIOD SHOWN                                                   
|--                                                                                  | --                                                                                            |                         | 320                                                         | (131,565)                                                         |  | 4,583                                                       | (4,583)                                                           |                           | 16,595                                                      | (34,091)                                                         
|BALANCE FOR EACH PERIOD SHOWN                                                      
|--                                                                                  | --                                                                                            |                         | 320                                                         | (131,565)                                                         |  |                                                             | (131,245)                                                         |                           | 16,595                                                      | (127,042)                                                        

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11




**STATEMENT OF CASH FLOWS**

**FOR THE PERIOD FROM JUNE 30, 2009 TO JUNE 30, 2010**

UNAUDITED
            JUNE 30, 2010
        
        UNAUDITED
            JUNE 30, 2009CASH FLOWS FROM OPERATING ACTIVITIES:Net (loss)
        $
        (320
        )
        
        $
        ( 4,583
        )Adjustments to reconcile net (loss) to net cash provided by operating activities:Fair market value of services provided by stockholder
        
        0
        
        
        
        0Increase in donated or gifted capital for payment of expenses by stockholders
        
        320
        
        
        
        4,583Changes in operating assets and liabilities:Accounts payable
        
        0
        
        
        
        0NET CASH PROVIDED BY OPERATING ACTIVITIES
        $
        0
        
        
        $
        0CASH FLOWS FROM INVESTING ACTIVITIES
        
        0
        
        
        
        0CASH FLOWS FROM FINANCING ACTIVITIES
        
        0
        
        
        
        0NET INCREASE (DECREASE) IN CASH AND CASH
            BALANCE AT JUNE 30, 2010
        $
        0
        
        
        $
        0SUPPLEMENTAL DISCLOSURE OF CASH 
            FLOW INFORMATIONCash paid for interest
        $
        0
        
        
        $
        0Cash paid for taxes
        $
        0
        
        
        $
        0SCHEDULE OF NON-CASH INVESTING 
            AND FINANCING ACTIVITIESFair market value of services provided by stockholder
        $
        0
        
        
        $
        0Increase in donated or gifted capital for 
            payment of expenses paid by stockholders
        $
        320
        
        
        $
        4,583


See Accompanying Notes

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NOTES TO FINANCIAL STATEMENTS

JUNE 30, 2010

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The company uses SOP 85-3, breeding horses under development. The horse
    evaluation is adding in direct costs to the value of the horses under
    development. The value is the lower of cost or established market value,
    until breeding maturity, then the horses are depreciated through the life
    of the breeding career. Pursuant to discussions with staff of the Securities
    and Exchange Commission in January of 2006 and in keeping with SOP 85-3
    regarding evaluations of breeding stock, the following accounting practices
  have been adopted and adjustments as of March 31, 2006.

Any financial statements prior to March 31, 2006 will be inaccurate, as they
    do not reflect SOP 85-3, breeding horses under development, and should not
    be relied upon for any meaningful representations of the company's financial
    position.

Accounting Estimates

Management uses estimates and assumptions in preparing financial statements in accordance with accounting principles generally accepted in the United States of America. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Actual results could vary from the estimates that were used.

Income Taxes

Provisions for income taxes are based on taxes payable or refundable for the current year and deferred taxes on temporary differences between the amount of taxable income and pretax financial income and between the basis of assets and liabilities and their reported amounts in the financial statements. Deferred tax assets and liabilities are included in the financial statements at currently enacted income tax rates applicable to the period in which the deferred tax assets and liabilities are expected to be realized or settled as prescribed in FASB Statement No. 109, "Accounting for Income Taxes." As changes in tax laws or rates are enacted, deferred tax assets and liabilities are adjusted through the provision for income taxes.

Net (Loss) Per Share

The Company adopted Statement of Financial Accounting Standards No. 144 that requires the reporting of both basic and diluted earnings (loss) per share. Basic earnings (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. In accordance with FASB 128, any anti-dilutive effects on net loss per share are excluded.

Long-Lived Assets

Statement of Financial Accounting Standards No. 144, "Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to be Disposed Of," requires that long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset in question may not be recoverable.

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NOTE 2: PREFERRED STOCK

No special rights or preferences have been assigned to the preferred stock.

NOTE 3: DEVELOPMENT STAGE OPERATIONS

As of June 30, 2010 the Company was in the development stages of operations. According to the Financial Accounting Standards Board of the Financial Accounting Foundation, a development stage Company is defined as a company that devotes most of its activities to establishing a new business activity. In addition, planned principle activities have not yet commenced.

The Company did not expense any development costs as per donation or gift from the shareholders for the period from June 30, 2009 to June 30, 2010.

NOTE 4: FINANCIAL STATEMENT OF AN INACTIVE REGISTRANT

Under Statute 210.3-11, the Company does not need to provide an audited or reviewed quarterly report.

Reg. Statutes 210.3-11

(a) Gross Receipts from all sources for the fiscal year are not in excess of $100,000;

(b) The registrant has not purchased or sold any of its own stock, granted options therefore, or levied assessments upon outstanding stock;

(c) Expenditures for all purposes for the fiscal year are not in excess of $100,000;

(d) No material change in the business has occurred during the fiscal year, including any bankruptcy, reorganization, readjustment or succession or any material acquisition or disposition of plants, mines, mining equipment, mine rights or leases; and

(e) No exchange upon which the shares are listed, or governmental authority having jurisdiction, requires the furnishing to it or the publication of audited financial statements.

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NOTE 5: INCOME TAXES

|Net (loss)                                                                                                            | $                                | (131,565 | )      
|--------------------------------------------------------------------------------------------------------------------- | -------------------------------- | -------- | -------
|The provisions for income taxes is estimated as follows:                                                              |                                  |          |        
|                                                                                                                      | Currently payable                | $        | 0      
|                                                                                                                      | Deferred                         | $        | 0      
|The net (loss) for financial statements differs from the federal income tax net loss. A reconciliation is as follows: |                                  |          |        
|                                                                                                                      | Financial statement net loss     | $        | 131,565
|                                                                                                                      | Non-deductible services          |          | 0      
|                                                                                                                      |                                  |          |        
|                                                                                                                      | Income tax net loss              |          | 131,565
|                                                                                                                      |                                  |          |        
|Significant components of the Company's deferred tax asset are as follows:                                            |                                  |          |        
|                                                                                                                      | Net operating loss carry forward | $        | 131,565
|                                                                                                                      | Less valuation allowance         |          | 0      
|                                                                                                                      |                                  |          |        
|                                                                                                                      | Net deferred asset               | $        | 131,565
|                                                                                                                      |                                  |          |        

NOTE 6:STOCK OPTION AGREEMENT

On November 1, 2000, the Company established a stock option agreement under
  which a total of 930,000 shares of common stock are reserved for the option.

The details of the option are as follows:

| | Number
      of Shares |  | Exercise
      Price |       | Exercise
      Date
| | ---------------------- |  | -------------------- | ----- | -------------------
| | 64,000                 |  | $                    | .50*  |                    
| | 866,000                |  |                      | 1.25* |                    
| | 930,000                |  |                      |       |                    

The Company has elected to account for stock-based compensation under APB
  Opinion No. 25, under which no compensation expense has been recognized for
  stock options granted to employees at fair market value.

A summary of the option activity for the period from November 1, 2000 to June
  30, 2010, pursuant to the terms of the plan is as follows:

| |                                         | Shares
      Under
      Option |  | Weighted
        Average
        Exercise Price
| | --------------------------------------- | ------------------------------- |  | -----------------------------------------------
| | Options outstanding at November 1, 2000 | 0                               |  | $                                              
| | Granted                                 | 930,000                         |  |                                                
| | Outstanding at June 30, 2010            | 930,000                         |  |                                                

All shares are exercisable.

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15




Information regarding stock options outstanding as of June 30, 2010 is as
  follows, not including the 20:1 stock split:

| | Price Range                                     | $  10.00  - | $ | 25.00
| | ----------------------------------------------- | ----------- | - | -----
| | Weighted average exercise and grant date prices | $           |   | 23.81
| | Outstanding at June 30, 2010                    | Exercisable

The weighted average fair market value of options granted in the period of
  November 1, 2000 to June 30, 2010 were estimated as of the date of grant using
  the Black-Scholes stock option pricing model, based on the following weighted
  average assumptions:

| | Dividend yield         | 0          
| | ---------------------- | -----------
| | Expected volatility    | 50%        
| | Risk fee interest rate | 5.7%       
| | Expected life          | Exercisable

For purposes of pro forma disclosure, the estimated fair market value of the
  options, if any, is amortized to expense over the options' vesting periods.

Under the Black-Scholes model, the options did not have any intrinsic value.
  Therefore, pro forma disclosure information has not been presented.

NOTE 7: SHARES OF STOCK ELIGIBLE FOR ISSUANCE

| |                                       | Common       |  | Preferred   
| | ------------------------------------- | ------------ |  | ------------
| | Total stock authorized                | 5,000,000    |  | 5,000,000   
| | Less stock issued                     | ( 1,900,000) |  | ( 4,000,000)
| | Less stock reserved for stock options | ( 930,000)   |  | 0           
| | Balance available for issuance        | 2,170,000    |  | 1,000,000   

NOTE 8: NET OPERATING LOSS CARRYFORWARD

The corporation has the following net operating loss carry forward:

| | Year          | Amount   | Expiration Date
| | ------------- | -------- | ---------------
| | June 30, 2010 | $131,565 | June 30, 2021  

NOTE 9: FAIR MARKET VALUE OF SERVICES DONATED BY STOCKHOLDER

A stockholder, Brad Brimhall, CEO of the Company, provided services for valued at $ 0 for July 1, 2009 through June 30, 2010. This estimate is$21.032 per hour for two hours per day, five days per week. The salary is determined yearly by the Board of Directors. Since the company is inactive and in a development stage, the current CEO, Brad Brimhall, oversees the operations and the company’s horse assets and the filing of the financial reports. He is currently the only qualified person the company has been able to find to fill these positions at the salary the company is willing to pay. When the company becomes active and a cash flow develops, these tasks will be broken out as the company is able to locate qualified persons to fulfill these jobs. Until  such time, the fair market value is determined by what the company is willing to pay and what a qualified person is willing to accept.

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16




NOTE 10: LIMITED OPERATION COSTS

The shareholders have elected to pay a substantial portion of operation costs of the company up to June, 2011 as gifts or donations to the Company. The exact amount will be determined by the Board of Directors on an on-going basis.

NOTE 11: GOING CONCERN

The financial statements are presented on the basis that the Company is a going concern. Going concern contemplates the realization of assets and the satisfaction of liabilities in the normal course of business over a reasonable length of time. The Company is in the development stage of breeding and training horses.

NOTE 12: INSURANCE

The Company does not have any insurance coverage on its horses nor any liability or workers' compensation insurance. However, the company intends to purchase insurance on its horses before any of the company's horses are bred or raced.

NOTE 13: ACCUMULATED DEFICITS   [back]

The common stock for salary was donated back to the company for the purpose of acquiring market makers and their float requirements.

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17

---

ITEM 8: Changes In and Disagreements With Accountants on Accounting and Financial Disclosure

8a. Effectiveness of the Company's Controls and Procedures

The company maintains disclosures controls and procedures designed to ensure that information required to be disclosed in its reports filed under the Securities Exchange Act of 1934, as amended (the Exchange Act), is recorded, processed, summarized, and reported within the required time periods, and that such information is accumulated and communicated to management, including the company's Chief Executive Officer and Chief Financial Officer, or persons performing these duties, to allow for timely decisions regarding required disclosure.

The company's management, including the Chief Executive Officer and Chief Financial Officer, or persons performing these duties, has evaluated the effectiveness of the company's disclosure controls and procedures over financial reporting (as defined in Exchange Act Rules). At the present time, the company is an inactive filer, with minimal expense transactions each month and no earnings whatsoever. Because of this, the company's financial statements are unaudited. The company's management performs the function of audit committee, and has detected errors in its financial reports, which errors are not in any way related to earnings or expenditures, but merely to the manner in which cumulative balances have been reported. Such errors have been corrected in the company's June 2005 10KSB/A. The Public Company Accounting Oversight Board has defined a material weakness as a "significant deficiency or combination of significant deficiencies that results in more than a remote likelihood that a material misstatement of the annual or interim financial statements will not be prevented or detected." The aforementioned errors are considered to be minor, and thus not "material" weaknesses, significant deficiencies, or a combination of significant deficiencies.

Based upon the company's most recent evaluation, the company's management, including its Chief Executive Officer and Chief Financial Officer (or persons performing those duties), concluded the company's disclosure controls and procedures over financial reporting are adequate and effective as of June 30, 2010. The effectiveness of the company's controls and procedures are an on-going process of continual improvement. As such, when the company becomes active, with earnings to report and audited financial statements, the company's disclosure controls and procedures may require restructuring.

There has been no change in the company's internal control over financial reporting or any other factor that has materially affected, or is reasonably likely to materially affect, the company's internal control over financial reporting.



PART III:

ITEM 9: Directors, Executive Officers, Promoters and Control Persons; Compliance With Section 16(a) of the Exchange Act

In response to this item, the company hereby incorporates by reference the information previously filed in the 10SB12G, filed August 15, 2001. There has been no change in Directors, Executive Officers, Promoters and Control Persons as of June 30, 2010.

ITEM 10: Executive Compensation

In response to this item, the company hereby incorporates by reference the information previously filed in the 10SB12G, filed August 15, 2001. There has been no change in Executive Compensation as it relates to the dollar amount.

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18




ITEM 11: Security Ownership of Certain Beneficial Owners and Management

In response to this item, the company hereby incorporates by reference the information previously filed in the 10SB12G, filed August 15, 2001. There has been no change in Security Ownership of Certain Beneficial Owners and Management up to June 30, 2010.  The security ownership is as described elsewhere in this 10KSB Annual Report for the period ending June 30, 2010.

ITEM 12: Certain Relationships and Related Transactions

In response to this item, the company hereby incorporates by reference the information previously filed in the 10SB12G, filed August 15, 2001. There has been no change in Certain Relationships and Related Transactions.

ITEM 13: Exhibits and Reports on Form 8-K

Exhibit 31.1 - Certification of the Chief Executive Officer pursuant to Rule 13A-14 or 15D-14 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 Acting Chief Financial Officer pursuant to Rule 13A-14 or 15D-14 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 Chief 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 Acting Chief Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

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19

---

SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, and the Financial Statements of an Inactive Registrant, Regulation Section 210-3-11, the Registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

|                        | **Nevada Classic Thoroughbreds, Inc.**                   
|----------------------- | ---------------------------------------------------------
|                        |                                                          
|Dated: October 10, 2010 | By: /s/ Brad Brimhall                                    
|                        |                                                          
|                        | Brad Brimhall                                            
|                        | Chief Accounting Officer / Acting Chief Financial Officer

In accordance with the Exchange Act, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

|Dated: October 10, 2010 | By: /s/ Brad Brimhall                
|----------------------- | -------------------------------------
|                        |                                      
|                        | Brad Brimhall                        
|                        | President and Chief Executive Officer



|Dated: October 10, 2010 | By: /s/ Pamela J. Brimhall
|----------------------- | --------------------------
|                        |                           
|                        | Pamela J. Brimhall        
|                        | Secretary/Treasurer       

Supplemental information to be Furnished With Reports Filed Pursuant to Section 15(d) of the Exchange Act By Non-Reporting Issuers:

Not Applicable.

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20