**UNITED
      STATES SECURITIES AND EXCHANGE COMMISSION**


**WASHINGTON,
      D.C. 20549**


**______________**




**FORM
      10-QSB**


**______________**




x
QUARTERLY
        REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
        1934




**For
      the quarterly period ended September 30, 2007**




o
TRANSITION
        REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
        1934




**For
      the transition period from ______________ to
      ______________**




**Commission
      File No. 000-51880**


**______________**




**CLASSIC
      COSTUME COMPANY, INC.**


**(Exact
      name of small business issuer as specified in its charter)**


**______________**




**Delaware**(State
                or other jurisdiction of
              incorporation
                or organization)
            (I.R.S.
                Employer Identification No.)**1202
                Lexington Avenue, Apt. 104**
              **New
                York, New York**
            **10028**(Address
                of principal executive offices)
            (Zip
                Code)




**(646)
                259-1009**(Issuer’s
                telephone number)




Check
      whether the issuer (1) has filed all reports required to be filed by Section
      13
      or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter
      period that the issuer was required to file such reports), and (2)has been
      subject to such filing requirements for the past 90 days. Yes x No o




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




Indicate
      by check mark whether the registrant is a shell company as defined in Rule
      12b-2
      of the Exchange Act.


Yes
x No
o





State
      the
      number of shares outstanding of each of the issuer’s classes of common equity,
      as of November 14, 2007: 12,957,117 shares of common stock.




Transitional
      Small Business Disclosure Format (check one): Yes o No x









**FORM
      10-QSB**


**INDEX**




PagePART
                  I: FINANCIAL INFORMATION
              2ITEM
                  1. FINANCIAL STATEMENTS
              2Consolidated
                  Balance Sheet (Unaudited)
              3Consolidated
                  Statements of Operations (Unaudited)
              4Consolidated
                  Statement of Changes in Stockholders’ Equity (Unaudited)
              5Consolidated
                  Statements of Cash Flows (Unaudited)
              6Notes
                  to Consolidated Financial Statements (Unaudited)
              8ITEM
                  2. MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF
                  OPERATION
              14ITEM
                  3. CONTROLS AND PROCEDURES
              16PART
                  II. OTHER INFORMATION
              17ITEM
                  1. LEGAL PROCEEDINGS
              17ITEM
                  2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF
                  PROCEEDS
              17ITEM
                  3. DEFAULTS UPON SENIOR SECURITIES
              17ITEM
                  4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
              17ITEM
                  5. OTHER INFORMATION
              17ITEM
                  6. EXHIBITS
              17SIGNATURES
              18






2




**PART
      I - FINANCIAL INFORMATION**





**ITEM
      1.****FINANCIAL
      INFORMATION**




CONSOLIDATED
                  BALANCE SHEET AS OF SEPTEMBER 30, 2007 AND DECEMBER 31, 2006
                  (UNAUDITED)
              3CONSOLIDATED
                  STATEMENTS OF OPERATIONS FOR THE NINE MONTHS ENDING SEPTEMBER 30,
                  2007 AND
                  2006, AND FROM INCEPTION (DECEMBER 9, 2005) THROUGH SEPTEMBER 30,
                  2007
                  (UNAUDITED)
              4CONSOLIDATED
                  STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY FOR THE PERIOD ENDED
                  SEPTEMBER 30, 2007 (UNAUDITED)
              5STATEMENT
                  OF CASH FLOWS FOR THE NINE MONTHS ENDING SEPTEMBER 30, 2007 AND
                  FROM
                  INCEPTION (DECEMBER 27, 2006) TO SEPTEMBER 30, 2006
                  (UNAUDITED)
              6FINANCIAL
                  STATEMENT FOOTNOTES
              8






3




**ITEM
      1.****FINANCIAL STATEMENTS**






**CLASSIC
        COSTUME COMPANY, INC. & SUBSIDIARY**


(a
        development stage company)


**CONSOLIDATED
        BALANCE SHEET**
 **SEPTEMBER
          30, 2007**
 **(UNAUDITED)**


**ASSETS****CURRENT
                  ASSETS**Cash
                  and cash equivalents
              
              $
              677Accounts
                  Receivable
              
              
              5,546Inventory
              
              
              8,247Total
                  current assets
              
              
              14,470**OTHER
                  ASSETS**Capitalized
                  software costs, net
              
              
              250Intangibles
              
              
              47,563Total
                  assets
              
              $
              62,283**LIABILITIES
                  AND STOCKHOLDERS' EQUITY****CURRENT
                  LIABILITIES**Accounts
                  Payable
              
              $
              3,430Advance
                  from shareholder
              
              
              11,130Note
                  Payable
              
              
              30,000Total
                  current liabilities
              
              
              44,560**STOCKHOLDERS'
                  EQUITY**Preferred
                  stock, $.001 par value, ,000,000 shares
              
              
              -authorized,
                  no shares issued and outstanding
              
              
              -Common
                  stock, $.001 par value, 50,000,000 shares 5authorized,
                  12,957,117 issued and outstanding
              
              
              12,957Additional
                  paid-in-capital
              
              
              634,899Deficit
                  accumulated during the development stage
              
              
              (630,133
              )Total
                  stockholders' equity
              
              
              17,723Total
                  liabilities stockholders' equity
              
              $
              62,283




*See
      accompanying notes to unaudited consolidated financial
      statements.*




4


**CLASSIC
        COSTUME COMPANY, INC. &
SUBSIDIARY**


**(a
        development stage company)**
 **CONSOLIDATED
          STATEMENTS OF OPERATIONS**




**For
                  the three Months ended September 30, 2007**
              
              
              **For
                  the nine Months ended September 30, 2007**
              
              
              **From
                  Inception (December 29, 2006) to September 30,
                  2007**(Unaudited)
              
              
              (Unaudited)
              
              
              (Unaudited)**Revenue**
              
              $
              5,686
              
              
              $
              13,835
              
              
              $
              13,835**Cost
                  of revenue**
              
              
              548
              
              
              
              2,922
              
              
              
              2,922Gross
                  profit
              
              
              5,138
              
              
              
              10,913
              
              
              
              10,913**Operating
                  expenses**Professional
                  Fees
              
              $
              -
              
              
              $
              -
              
              
              $
              500,000Legal
                  fees
              
              
              -
              
              
              
              107,656
              
              
              
              107,656Amortization
                  of intangibles
              
              
              2,780
              
              
              
              8,080
              
              
              
              8,080Auditing
                  fees
              
              
              4,000
              
              
              
              7,000
              
              
              
              7,000Payroll
              
              
              4,440
              
              
              
              4,440
              
              
              
              4,440Printing
              
              
              3,512
              
              
              
              3,512
              
              
              
              3,512Postage
                  and Mailing
              
              
              1,011
              
              
              
              1,011
              
              
              
              1,011Other
              
              
              7,626
              
              
              
              7,917
              
              
              
              7,917Total
                  operating expenses
              
              
              23,369
              
              
              
              139,616
              
              
              
              639,616**Loss
                  before other expense**
              
              
              (18,231
              )
              
              
              (128,703
              )
              
              
              (628,703
              )**Other
                  expense**Interest
                  expense
              
              
              525
              
              
              
              1,430
              
              
              
              1,430Total
                  other expense
              
              
              525
              
              
              
              1,430
              
              
              
              1,430**Net
                  loss**
              
              $
              (18,756
              )
              
              $
              (130,133
              )
              
              $
              (630,133
              )**Loss
                  per common share –**
                **basic
                  and diluted**
              
              $
              (0.01
              )
              
              $
              (0.01
              )
              
              $
              (0.05
              )**Number
                  of common shares -****outstanding
                  basic and diluted**
              
              
              12,957,117
              
              
              
              12,957,117
              
              
              
              12,957,117






*See
      accompanying notes to unaudited consolidated financial
      statements.*





5
 
   **CLASSIC
          COSTUME****COMPANY****, INC. &
SUBSIDIARY**
 **(a
          development stage company)**
 **CONSOLIDATED
          STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY**
 **FOR
            THE PERIOD ENDED SEPTEMBER 30, 2007**
 **(Unaudited)**




**Additional**
              
              
              
              
              
              **Total****Preferred
                  Stock**
              
              
              **Common
                  Stock**
              
              
              **Paid-in**
              
              
              **Accumulated**
              
              
              **Stockholders’****Shares**
              
              
              **Amount**
              
              
              **Shares**
              
              
              **Amount**
              
              
              **Capital**
              
              
              **Deficit**
              
              
              **Equity**Opening
                  balance, December 29, 2006
              
              
              -
              
              
              $
              -
              
              
              
              -
              
              
              $
              -
              
              
              $
              -
              
              
              $
              -
              
              
              $
              -Issuance
                  of restricted shares to officer @ $0.05 per share
              
              
              -
              
              
              
              -
              
              
              
              10,000,000
              
              
              
              10,000
              
              
              
              490,000
              
              
              
              -
              
              
              
              500,000Net
                  loss
              
              
              -
              
              
              
              -
              
              
              
              -
              
              
              
              -
              
              
              
              -
              
              
              
              (500,000
              )
              
              
              (500,000
              )Balance,
                  December 31, 2006
              
              
              -
              
              
              
              -
              
              
              
              10,000,000
              
              
              
              10,000
              
              
              
              490,000
              
              
              
              (500,000
              )
              
              
              -Issuance
                  of Common Stock for services @ $0.001 per share
              
              
              -
              
              
              
              -
              
              
              
              2,153,117
              
              
              
              2,153
              
              
              
              105,503
              
              
              
              -
              
              
              
              107,656Issuance
                  of Common Stock to former stockholders of World Wide Relics @ $0.001
                  per
                  share
              
              
              -
              
              
              
              -
              
              
              
              201,000
              
              
              
              201
              
              
              
              9,849
              
              
              
              -
              
              
              
              10,050Issuance
                  of Common Stock @ $0.001 per share
              
              
              -
              
              
              
              -
              
              
              
              603,000
              
              
              
              603
              
              
              
              29,547
              
              
              
              -
              
              
              
              30,150Net
                  Loss
              
              
              -
              
              
              
              -
              
              
              
              -
              
              
              
              -
              
              
              
              -
              
              
              
              (130,133
              )
              
              
              (130,133
              )Balance,
                  September 30, 2007
              
              
              -
              
              
              $
              -
              
              
              
              12,957,117
              
              
              $
              12,957
              
              
              $
              634,899
              
              
              $
              (630,133
              )
              
              $
              17,723




*See
      accompanying notes to unaudited consolidated financial
      statements*




6





**CLASSIC
        COSTUME, INC. & SUBSIDIARY**


**(a
        development stage company)**


**STATEMENTS
        OF CASH FLOWS**


**For
                  the nine Months ended September 30, 2007**
              
              
              **From
                  Inception (December 29, 2006) to September 30,
                  2007**(Unaudited)
              
              
              (Unaudited)**Cash
                  flows from operating activities:**Net
                  loss
              
              $
              (130,133
              )
              
              $
              (630,133
              )Adjustments
                  to reconcile net loss to netcash
                  used in operating activities:Amortization
              
              
              8,080
              
              
              
              8,080Common
                  stock issued for services
              
              
              107,656
              
              
              
              607,656(Increase)
                  decrease in assets and liabilities:Inventory
              
              
              (3,255
              )
              
              
              (3,255
              )Accounts
                  Receivable
              
              
              (5,546
              )
              
              
              (5,546
              )Accounts
                  payable and accrued expenses
              
              
              (10,570
              )
              
              
              (10,570
              )Net
                  cash used in operating activities
              
              
              (33,768
              )
              
              
              (33,768
              )Cash
                  flows from investing activities:Purchase
                  of Trademark
              
              
              (3,100
              )
              
              
              (3,100
              )Net
                  cash used in investing activities
              
              
              (3,100
              )
              
              
              (3,100
              )**Cash
                  flows from financing activities:**Increase
                  in cash overdraft
              
              
              (10
              )
              
              
              (10
              )Advance
                  from shareholder
              
              
              7,405
              
              
              
              7,405Proceeds
                  from sale of capital stock
              
              
              30,150
              
              
              
              30,150Net
                  cash provided by financing activities
              
              
              37,545
              
              
              
              37,545Net
                  increase (decrease) in cash and cash equivalents
              
              
              677
              
              
              
              677Cash
                  and cash equivalents - beginning of period
              
              
              -
              
              
              
              -Cash
                  and cash equivalents - end of period
              
              $
              677
              
              
              $
              677Supplemental
                  disclosures of cash flow information:Cash
                  paid for income taxes
              
              $
              -
              
              
              $
              -Cash
                  paid for interest
              
              $
              -
              
              
              $
              -Non-Cash
                  Investing and Financing ActivitiesNote
                  issued for investment in subsidiary
              
              $
              30,000
              
              
              $
              30,000Common
                  stock issued for investment in subsidiary
              
              $
              10,050
              
              
              $
              10,050Total
                  assets acquired
              
              $
              5,292
              
              
              $
              5,292Total
                  liabilities acquired
              
              $
              (17,735
              )
              
              $
              (17,735
              )




*See
      accompanying notes to unaudited consolidated financial
      statements*




7




**Classic
      Costume Company, Inc. and Subsidiaries**


**Notes
      to Consolidated Financial Statements**


**(Unaudited)**


**Note
      1 -Description of Business**





Classic
        Costume Company, Inc. (“Classic” or “We” or “the Company”) was formed as a
        Delaware corporation on December 29, 2006. We are a development stage
        corporation formed to produce and market our unique line of historical costumes
        and reenactment clothing lines through our website with the registered domain
        name of WorldWideRelics.Com.  To date, we have completed our range of
        historical uniforms known as “Britain in the 1930’s” and have commenced selling
        these items to the growing market of world wide enthusiasts and collectors
        through our internet platform and on eBay Inc. We intend to add new ranges
        of
        product covering the American Civil War reenactment market by producing a
        range
        of high quality uniforms for both the Union and Confederate Civil War
        Re-enactor. This range includes both uniforms as well as accoutrements such
        as
        boots, belts and back packs produced to a museum quality standard. The final
        business group is the marketing and sale of high quality copies of both British
        and German uniforms from both the world wars to satisfy the demand from the
        growing re-enactment groups world wide which are principally in
        Europe.





On
      January 7, 2007, we issued an aggregate of 10,000,000 shares of common stock,
      valued at $0.05 per share, to E. Todd Owens for professional services amounting
      to $500,000. The issuance of these shares and the related expenses are reflected
      in the accompanying financial statements as of December 31, 2006.





On
      January 17, 2007, in consideration for 100% of the outstanding shares of World
      Wide Relics, Inc. (“WWR”) (a Nevada corporation formed on January 8, 2005), we
      issued 201,000 shares of common stock and a promissory note for $30,000 bearing
      interest at the rate of 7% and due on March 31, 2008 to the former shareholder
      of WWR. The accompanying financial statements include the operations of
      WWR.





During
      June 2007 the Company raised a total of $30,150, representing 603,000 shares,
      in
      a public offering.




**Note
      2 - Summary of Significant Accounting Policies**





**Basis
      of Presentation**


The
      Company, under the rules and regulations of the Securities and Exchange
      Commission, has prepared the unaudited consolidated financial statements. The
      accompanying consolidated financial statements contain all normal recurring
      adjustments, which are, in the opinion of management, necessary for the fair
      presentation of such financial statements. The year-end balance sheet data
      was
      derived from the audited financial statements, but does not include all
      disclosures required by accounting principles generally accepted in the United
      States of America. These unaudited consolidated financial statements should
      be
      read in conjunction with the financial statements and notes for the Company
      included in our SB-2 Registration Statement filed for the period ended December
      31, 2006. Interim results of operations for the periods presented may not
      necessarily be indicative of the results to be expected for the full
      year.





**Use
      of Estimates**


The
      preparation of financial statements in conformity with accounting principles
      generally accepted in the United States of America requires management to make
      estimates and assumptions that affect the reported amounts of assets and
      liabilities and disclosures of contingent assets and liabilities at the date
      of
      the financial statements and the reported amounts of revenue and expenses during
      the reporting period. Actual results could differ from those
      estimates.





**Cash
      and Cash Equivalents**


The
      Company considers all highly liquid debt instruments and other short-term
      investments with a maturity of three months or less, when purchased, to be
      cash
      equivalents.




8




**Property
      and Equipment**


Property
      and equipment is stated at cost, less accumulated depreciation. Depreciation
      is
      provided using the straight-line method over the estimated useful lives of
      the
      related assets (primarily three to five years). Leasehold improvements are
      amortized over the shorter of the lease term or the estimated useful life.
      Costs
      of maintenance and repairs are charged to expense as incurred.




**Inventories**


Inventories
      are stated at the lower of average cost or market and consist of finished
      goods.




**Stock
      Based Compensation**


In
      December 2004, the FASB issued SFAS No. 123(R), "Share-Based Payment," which
      replaces SFAS No. 123 and supersedes Accounting Principles Board (“APB”) Opinion
      No. 25. Under SFAS No. 123(R), companies are required to measure the
      compensation costs of share-based compensation arrangements based on the
      grant-date fair value and recognize the costs in the financial statements over
      the period during which employees are required to provide services. Share-based
      compensation arrangements include stock options, restricted share plans,
      performance-based awards, share appreciation rights and employee share purchase
      plans. In March 2005 the SEC issued Staff Accounting Bulletin No. 107, or “SAB
      107”. SAB 107 expresses views of the staff regarding the
      interaction between SFAS No. 123(R) and certain SEC rules and regulations
      and provides the staff's views regarding the valuation of share-based payment
      arrangements for public companies. SFAS No. 123(R) permits public companies
      to
      adopt its requirements using one of two methods. On April 14, 2005, the
      U.S. Securities and Exchange Commission (the “SEC”) adopted a new rule amending
      the compliance dates for SFAS 123R. Companies may elect to apply this statement
      either prospectively, or on a modified version of retrospective application
      under which financial statements for prior periods are adjusted on a basis
      consistent with the pro forma disclosures required for those periods under
      SFAS
      No. 123. Effective January 1, 2006, the Company has adopted SFAS No. 123(R)
      under the prospective method.





**Recoverability
      of Long-Lived Assets**


The
      Company reviews the recoverability of its long-lived assets on a periodic basis
      whenever events and changes in circumstances have occurred which may indicate
      a
      possible impairment. The assessment for potential impairment is based primarily
      on the Company’s ability to recover the carrying value of its long-lived assets
      from expected future cash flows from its operations on an undiscounted basis.
      If
      such assets are determined to be impaired, the impairment recognized is the
      amount by which the carrying value of the assets exceeds the fair value of
      the
      assets. Property and equipment to be disposed of by sale is carried at the
      lower
      of the then current carrying value or fair value less estimated costs to sell.
      Intangible assets with indefinite useful lives are tested for impairment
      annually or more frequently if an event indicates that the asset might be
      impaired. In accordance with SFAS No. 142, the fair value of these intangible
      assets is determined based on a discounted cash flow methodology.





**Revenue
      Recognition**


Revenues
      from services are recognized when the services are performed, evidence of an
      arrangement exists, the fee is fixed and determinable and collectibility is
      probable. In circumstances when these criteria are not met, revenue recognition
      is deferred until resolution occurs.





**Income
      Taxes**


The
      Company accounts for income taxes utilizing the liability method of accounting.
      Under the liability method, deferred taxes are determined based on differences
      between financial statement and tax bases of assets and liabilities at enacted
      tax rates in effect in years in which differences are expected to reverse.
      Valuation allowances are established, when necessary, to reduce deferred tax
      assets to amounts that are expected to be realized.




9




**Earnings
      (Loss) Per Share of Common Stock**


The
      Company presents basic earnings (loss) per share and, if appropriate, diluted
      earnings per share in accordance with SFAS 128, “Earnings Per Share (“SFAS
      128”). Under SFAS 128 basic net income (loss) per share is computed by dividing
      net income (loss) for the period by the weighted-average number of shares
      outstanding during the period. Diluted net income per share is computed by
      dividing net income for the period by the weighted-average number of common
      share equivalents during the period. There were no unexpired options or warrants
      to purchase shares of common stock at September 30, 2007.





**Fair
      Value of Financial Instruments**


The
      carrying amounts reported in the consolidated balance sheet for cash, accounts
      receivable and payable approximate fair value based on the short-term maturity
      of these instruments.




**Recent
      Issued Accounting Standards******


In
      February 2006, the FASB issued Statement of Financial Accounting Standards
      No.
      155, *Accounting for Certain Hybrid Financial Instruments - an amendment of
      FASB Statements No. 133 and 140* . This statement permits fair value
      remeasurement for any hybrid financial instrument that contains an embedded
      derivative that otherwise would require bifurcation; clarifies which
      interest-only strips and principal-only strips are not subject to the
      requirements of Statement 133; establishes a requirement to evaluate interests
      in securitized financial assets that are freestanding derivatives or that are
      hybrid financial instruments that contain an embedded derivative requiring
      bifurcation; clarifies that concentrations of credit risk in the form of
      subordination are not embedded derivatives; and amends Statement 140 to
      eliminate the prohibition on a qualifying special-purpose entity from holding
      a
      derivative financial instrument that pertains to a beneficial interest other
      than another derivative instrument. This Statement is effective for all
      financial instruments acquired or issued after the beginning of an entity’s
      first fiscal year that begins after September 15, 2006. The Company does not
      expect the adoption of Statement 155 to materially effect the Company’s
      financial position or results of operations.





In
      March
      2006, the FASB issued Statement of Financial Accounting Standards No. 156,
      *Accounting for Transfers and Servicing of Financial Assets and
      Extinguishments of Liabilities* . This Statement requires an entity to
      recognize a servicing asset or servicing liability each time it undertakes
      an
      obligation to service a financial asset by entering into a service contract;
      requires all separately recognized servicing assets and servicing liabilities
      to
      be initially measured at fair value, if practicable; permits an entity to choose
      either the amortization method or fair value measurement method for each class
      of separately recognized servicing assets and servicing liabilities; and
      requires separate presentation of servicing assets and servicing liabilities
      subsequently measured at fair value in the statement of financial position
      and
      additional disclosures for all separately recognized servicing assets and
      servicing liabilities. The Company does not expect to be impacted by the
      adoption of SFAS 156, which will be effective for fiscal years beginning after
      September 15, 2006.





In
      June
      2006, the FASB issued Financial Interpretation No. 48, *Accounting for
      Uncertainty in Income Taxes - an Interpretation of FASB Statement No. 109* .
      This interpretation prescribes a recognition threshold and measurement attribute
      for the financial statement recognition and measurement of a tax position taken
      or expected to be taken in a tax return. The evaluation of a tax position in
      accordance with this interpretation is a two step process. The first step is
      recognition: The enterprise determines whether it is more likely than not that
      a
      tax position will be sustained upon examination, including resolution of any
      related appeals or litigation processes, based on the technical merits of the
      position. In evaluating whether a tax position has met the more-likely-than-not
      recognition threshold, the enterprise should presume that the position will
      be
      examined by the appropriate taxing authority that would have full knowledge
      of
      all relevant information. The second step is measurement: A tax position that
      meets the more-likely-than-not recognition threshold is measured to determine
      the amount of benefit to recognize in the financial statements. The tax position
      is measured at the largest amount of benefit that is greater than 50 percent
      likely of being realized upon ultimate settlement. This interpretation is
      effective for fiscal years beginning after December 15, 2006. The Company does
      not expect the adoption of FIN 48 to materially effect the Company’s financial
      position or results of operations.




10




In
      September, 2006, the FASB issued Statement of Financial Accounting Standards
      No.
      157, *Fair Value Measurements*. This Statement defines fair value,
      establishes a framework for measuring fair value in generally accepted
      accounting principals (GAAP), and expands disclosures about fair value
      measurements. The definition of fair value retains the exchange price notion
      in
      earlier definitions of fair value. The exchange price is the price in an orderly
      transaction between market participants to sell the asset or transfer the
      liability in the market in which the reporting entity would transact for the
      asset or liability. Fair value is a market-based measurement, not an
      entity-specific measurement. Therefore, a fair value measurement should be
      determined based on the assumptions that market would use in pricing the asset
      or liability. This Statement expands disclosures about the use of fair value
      to
      measure assets and liabilities in interim and annual periods subsequent to
      initial recognition. The disclosures focus on the inputs used to measure the
      fair value and the effect of the measurements on earnings. This Statement is
      effective for financial statements issued for fiscal years beginning after
      November 15, 2007. The Company does not expect the adoption of SFAS 157 to
      materially effect the Company’s financial position or results of
      operations.





In
      September, 2006, the FASB issued Statement of Financial Accounting Standards
      No.
      158, *Employers’ Accounting for Defined Benefit Pension and Other
      Postretirement Plans - an Amendment of FASB Statements No. 87, 88, 106, and
      132(R)* . This Statement improves financial reporting by requiring an
      employer to recognize the overfunded or underfunded status of a defined benefit
      postretirement plan (other than a multiemployer plan) as an asset or liability
      in its statement of financial position and to recognize changes in that funded
      status in the year in which the changes occur through comprehensive income
      of a
      business entity or changes in the unrestricted net assets of a not-for-profit
      organization. This Statement also requires an employer to measure the funded
      status of a plan as of the date of its year-end statement of financial position,
      with limited exceptions. An employer with publicly traded equity securities
      is
      required to initially recognize the funded status of a defined benefit
      post-retirement plan and to provide the required disclosures as of the end
      of
      the fiscal year ending after December 15, 2006. As the Company does not
      currently have a defined benefit post-retirement plan, it does not expect to
      be
      impacted by the adoption of FAS 158.





In
      December 2006, the FASB approved FASB Staff Position (FSP) No. EITF 00-19-2,
      "Accounting for Registration Payment Arrangements" ("FSP EITF 00-19-2"), which
      specifies that the contingent obligation to make future payments or otherwise
      transfer consideration under a registration payment arrangement, whether issued
      as a separate agreement or included as a provision of a financial instrument
      or
      other agreement, should be separately recognized and measured in accordance
      with
      SFAS No. 5, "Accounting for Contingencies". FSP EITF 00-19-2 also requires
      additional disclosure regarding the nature of any registration payment
      arrangements, alternative settlement methods, the maximum potential amount
      of
      consideration and the current carrying amount of the liability, if any. The
      guidance in FSP EITF 00-19-2 amends FASB Statements No. 133, "Accounting for
      Derivative Instruments and Hedging Activities", and No. 150, "Accounting for
      Certain Financial Instruments with Characteristics of both Liabilities and
      Equity", and FASB Interpretation No. 45, "Guarantor's Accounting and Disclosure
      requirement for Guarantees, Including Indirect Guarantees of Indebtedness of
      Others", to include scope exceptions for registration payment arrangements.
      FSP
      EITF 00-19-2 is effective immediately for registration payment arrangements
      and
      the financial instruments subject to those arrangements that are entered into
      or
      modified subsequent to the issuance date of this FSP, or for financial
      statements issued for fiscal years beginning after December 15, 2006, and
      interim periods within those fiscal years, for registration payment arrangements
      entered into prior to the issuance date of this FSP. The Company is currently
      evaluating the impact, if any, on the Company's financial position, results
      of
      operations or cash flows.





In
      February 2007, the FASB issued Statement of Financial Accounting Standards
      No.
      159, *The Fair Value Option for Financial Assets and Financial Liabilities -
      Including an amendment of FASB Statement No. 115* . This Statement permits
      entities to choose to measure many financial instruments and certain other
      items
      at fair value. The objective is to improve financial reporting by providing
      entities with the opportunity to mitigate volatility in reported earnings caused
      by measuring related assets and liabilities differently without having to apply
      complex hedge accounting provisions. This Statement applies to all entities,
      including not-for-profit organizations. Most of the provisions of this Statement
      apply only to entities that elect the fair value option. However, the amendment
      to FASB Statement No. 115, *Accounting for Certain Investments in Debt and
      Equity Securities* , applies to all entities with available-for-sale and
      trading securities. The fair value option permits all entities to choose to
      measure eligible items at fair value at specified election dates.




11




A
      business entity shall report unrealized gains and losses on items for which
      the
      fair value option has been elected in earnings (or another performance indicator
      if the business entity does not report earnings) at each subsequent reporting
      date. The fair value option may be applied instrument by instrument (with a
      few
      exceptions); is irrevocable (unless a new election date occurs); and is applied
      only to entire instruments and not to portions of instruments.




This
      Statement is effective as of the beginning of an entity’s first fiscal year that
      begins after or before November 15, 2007, provided the entity also elects to
      apply the provisions of FASB Statement No. 157, *Fair Value Measurement*
      . The Company does not expect the adoption of SFAS 159 to materially effect
      the
      Company’s financial position or results of operations.




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





**Note
      3-Going Concern**





The
      accompanying financial statements have been prepared assuming that the Company
      will continue as a going concern. The Company has no operating history nor
      any
      revenues or earnings from operations. Additionally, the Company’s ongoing
      expenses, primarily registration, legal accounting costs, have been paid through
      funds advanced to it by certain shareholders. The Company intends to resolve
      its
      liquidity problems through pursuing a merger or combination with a profitable
      third party buyer. The financial statements do not include any adjustments
      that
      might result from the outcome of this uncertainty.





**Note
      4-Equity Transactions**





The
      Company was incorporated on December 29, 2006. Upon incorporation, the Company
      had authority to issue the following:





***Preferred
      Stock-*** 5,000,000 $.001 par value shares.


***Common
      Stock-*** 50,000,000 $.001 par value shares.





On
      January 7, 2007, the Company issued an aggregate of 10,000,000 shares of common
      stock, valued at $0.05 per share, to E. Todd Owens for professional
      services.  In January 2007 the Company issued 2,354,117 common shares
      to its lawyers, Sichenzia Ross Friedman Ference LLP, for legal services
      rendered.  In June 2007 the Company issued 603,000 shares in a public
      offering of shares at $.05 per share.





**Note
      5 – Change of Control of Registrant**





On
      September 25, 2007 (the “Effective Date”), pursuant to the terms of a Stock
      Purchase Agreement, J & J Global Assets Inc. purchased 10,00,000 shares of
      the issued and outstanding common stock of Classic Costume Company, Inc. (the
      “Company”) from E. Todd Owens, a shareholder of the Company, for $541,250 in
      cash.  Pursuant to the terms of a Securities Purchase Agreement, J
& J Global Assets Inc. also purchased 2,153,117 shares of the issued and
      outstanding common stock of the Company, and a Warrant to purchase 15% of the
      outstanding shares of common stock of the Company for $108,750 in cash. The
      total of 12,153,117 shares represents 94% of the outstanding common stock of
      the
      Company. J & J Global Assets Inc. used personal funds to purchase the shares
      of the Company.   As part of the acquisition, and pursuant to the
      Stock Purchase Agreement, and Securities Purchase Agreement the following
      changes to the Company’s directors and officers have occurred:




12




o  As
      of September 25, 2007, ­ Carl Oberg was appointed to the Board of Directors
      of the Company and as the Chief Executive Officer, Principal Financial Officer
      and Secretary.


o  E.
      Todd Owens then resigned as the Chairman of the Board, Company’s President,
      Chief Executive Officer, Secretary, Chief Financial Officer, and
      Treasurer.


o  Also
      as of September 25, 2007, E. Todd Owens was appointed as a Company Vice
      President.





**Note
      6-Acquisition**





On
      January 17, 2007, the Company executed and consummated a Stock Purchase
      Agreement with the sole shareholders of World Wide Relics, Inc. where the
      Company acquired all of the issued and outstanding capital stock of World Wide
      Relics, Inc. In consideration for the stock of the Company issued to the former
      shareholder of the acquired subsidiary 201,000 shares of the Company’s common
      stock and a promissory note for $30,000 bearing interest at the rate of seven
      percent, due March 31, 2008.





The
      following table summarizes the estimated fair values of the assets and
      liabilities assumed at the date of acquisition:




Purchase
                price
            
            $
            40,050Total
                assets
            
            
            (5,292
            )Total
                liabilities
            
            
            17,735Identifiable
                intangible assets
            
            $
            52,493





Amortization
      expense for the Company’s intangibles amounted to $2,780 and $8,080 for the
      three and nine months ended September 30, 2007, respectively.





The
      following unaudited pro forma consolidated results of operations have been
      prepared as if the acquisition of World Wide Relics, Inc. had occurred as of
      the
      following period:





September
                30, 2006Net
                revenues
            
            $
            987Net
                loss applicable to common shareholders
            
            $
            (7,716
            )Basic
                and diluted net loss per share
            
            $
            0.01





13




**ITEM
      2****.
      MANAGEMENT’S DISCUSSION AND ANALYSIS OR PLAN OF
      OPERATION**





**FORWARD
      LOOKING STATEMENTS**





Management’s
      Discussion and Analysis contains “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, as well as historical information. Although we believe
      that the expectations reflected in these forward-looking statements are
      reasonable, we can give no assurance that the expectations reflected in these
      forward-looking statements will prove to be correct. Forward-looking statements
      include those that use forward-looking terminology, such as the words
“anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “project,”
“plan,” “will,” “shall,” “should,” and similar expressions, including when used
      in the negative. Although we believe that the expectations reflected in these
      forward-looking statements are reasonable and achievable, these statements
      involve risks and uncertainties and no assurance can be given that actual
      results will be consistent with these forward-looking statements. Current
      shareholders and prospective investors are cautioned that any forward-looking
      statements are not guarantees of future performance. Such forward-looking
      statements by their nature involve substantial risks and uncertainties, certain
      of which are beyond our control, and actual results for future periods could
      differ materially from those discussed in this report, depending on a variety
      of
      important factors, among which are our ability to implement our business
      strategy, our ability to compete with major established companies, the
      acceptance of our products in our target markets, the outcome of litigation,
      our
      ability to attract and retain qualified personnel, our ability to obtain
      financing, our ability to continue as a going concern, and other risks described
      from time to time in our filings with the Securities and Exchange Commission.
      Forward-looking statements contained in this report speak only as of the date
      of
      this report. Future events and actual results could differ materially from
      the
      forward-looking statements. You should read this report completely and with
      the
      understanding that actual future results may be materially different from what
      management expects. We will not update forward-looking statements even though
      its situation may change in the future.




**INTRODUCTION**




The
      following discussion and analysis summarizes the significant factors affecting:
      (i) our consolidated results of operations for the three months ended September
      30, 2007; and (ii) financial liquidity and capital resources.  This
      discussion and analysis should be read in conjunction with our consolidated
      financial statements and notes included in this Form 10-QSB.





We
      are a
      start-up, development stage company with a limited operating history. We were
      initially formed in December 2006 and on January 17, 2007 we acquired World
      Wide
      Relics, Inc. World Wide Relics, Inc. was initially formed in January 2005.
      The
      market for our products sold through the Internet has only recently begun to
      develop and is rapidly evolving. Our prospects must be considered in light
      of
      the risks, costs and difficulties frequently encountered by companies in their
      early stage of development, particularly companies in the rapidly evolving
      Internet market. In order to be successful, we must, among other things,
      attract, retain and motivate qualified customers to view our website,
      successfully implement our Internet marketing programs, respond to competitive
      developments and successfully expand our internal infrastructure, particularly
      sales, marketing and administrative personnel and its accounting system. Our
      mission is to combine the advantages of online commerce with a superior customer
      focus in order to be an authoritative source for authentic and excellent
      reproductions of historical memorabilia and clothing. In sum, our goals
      are:





1.
      To
      generate maximum sales revenues by offering an extensive range of superior
      products to online consumers at competitive prices;





2.
      To
      generate referral and repeat business by offering exceptional service and sales
      follow-up to our customers





3.
      To
      maximize the competitive advantage we hold through the sale of quality products
      which consumers value.




14





As
      of the
      first quarter of 2007 we have been working with our Indian supplier to expand
      our offerings into the American Civil War re-enactment arena. Our aim is to
      provide so-called “Reenactors” with authentic-looking uniforms and regalia
      (buckles, badges, etc.) at affordable prices. The following is a description
      of
      Civil War Reenactments and our target market:


There
      are
      clubs in the United States, Canada, and even the United Kingdom where
      enthusiasts don uniforms and portray life in the Civil War period. American
      Civil War reenactments have drawn a fairly sizable following of enthusiastic
      participants, of all ages, willing to brave the elements and expend money and
      resources in their efforts to duplicate the events down to the smallest recorded
      detail. Participants may even attend classes put on by event sponsors where
      they
      learn how to dress, cook, eat, and even "die" just as real Civil War soldiers
      would have. Most reenactment have anywhere from 100-1,000 actors, portraying
      either Union or Confederate infantry, artillery, or cavalry forces. To date
      the
      biggest Civil War reenactment was the 135th Gettysburg (1998), which had over
      41,000 reenactors and a crowd of over 45,000 watching.





Reasons
      given for taking part in such activities differ. Some partakers are interested
      in getting a historical standpoint on the turbulent times that gripped the
      nation, particularly if they can trace their ancestry back to those who fought
      in the war. Others participate merely for the escapism that such events offer.
      Some commentators have suggested that Southerners are drawn to these activities
      for political reasons, because they represent a rejection of the North. Often,
      however, this is a false stereotype. In fact, some are Northerners that may
      have
      been "sympathetic" to the Southerners, who are often outnumbered in events
      in
      the North. In some cases if there are not enough Union soldiers present,
      Confederate soldiers are asked to switch sides for the day/event. There are
      thought to be three types of Reenactors:




·
            **Farbs**
                - are reenactors who spend relatively little of their time or money
                maintaining authenticity with regard to uniforms, accessories, or
                even
                period behavior. ‘Farb’ is derived from the German "farben" which means to
                make or to manufacture; others contend that the term stems from the
                phrase, "far be it from me to criticize, but look at that...” These people
                are self-made Union or Confederate soldiers, wearing modern-day
                sunglasses, wristwatches, eyeglasses and the like as they exercise
                their
                impression of soldiers of the period. They are content to wear their
                grey
                polyester work trousers and grey work shirt with their name tag stitches
                removed, and any old-looking hat when they are Confederate soldiers;
                and
                they wear pretty much anything blue when they are Union soldiers.
                They all
                too often disregard the direction of their officers and fail to maintain
                the orderly behavior in drill and on the field which would have been
                common during the War, displaying not an independent spirit but an
                undisciplined, unruly, and rude spirit. Farbs might march out into
                a
                Reenactment wearing blue jeans and boots, for example. Some think
                the
                origin of the word is a truncated version of "Far be it from authentic."
                An alternative definition is "Far be it for me to question his
                impression".





·
            **Authentics**—are
                re-enactors on the opposite end of the spectrum from Farbs. They
                try to
                recreate life in the Civil war to the fullest, researching details
                of
                material goods and operations in a quest for accuracy. Often they
                will
                nitpick every detail of authenticity, to the point where they are
                known as
                a "thread counter", a person who criticizes other people because
                they are
                even slightly off from authentic.





·
            **Mainstreamer**—the
                last type of reenactor really doesn't have an official label, but
                is often
                called the "Mainstreamer." These reenactors are somewhere between
                farb and
                authentic. They are more common than either farbs or
                authentics.




Our
      financial statements are prepared in accordance with U.S. generally accepted
      accounting principles and we have expensed all development expenses related
      to
      the establishment of the company.




15





**Results
      of Operations**




**Quarter
        Ended September 30, 2007.** The Company’s revenue for the three months
        ended September 30, 2007 was $5,686. The Company continued its development
        of
        its uniform product line, and it managed to procure original metal dies used
        to
        make authentic historic uniform belt buckles from a firm in Birmingham,
        England. These new dies cut for a new belt buckle and assembly which will
        retail for $150 each, and we have already had very positive expressions of
        interest.  The Company has orders for certain items but since they are
        assembled from items produced by several sub-contractors we have been unable
        to
        assemble and make delivery of the orders. Traditionally business is slower
        in
        the summer as people go on vacation, but the fourth quarter is an opportune
        time
        in this business as it contains the Christmas buying season.




**Product
      Sales and Cost of Product Sales.**    The Company has
      continued to sell out of existing inventory, as well as handling a number of
      custom orders. Historically the majority of our customers have been European,
      but over the past year we are getting more American sales.




**Liquidity
      and Capital Resources**





**General**




Our
      principal use of cash in our operating activities has historically been for
      inventory and selling, general and administrative expenses.  Our principal
      source of liquidity has historically been from financing activities.  We
      intend to raise funds through debt and equity offerings of which none are
      guaranteed.





**Application
      of Critical Accounting Policies**





We
      utilize certain accounting policies and procedures to manage changes that occur
      in our business environment that may affect accounting estimates made in
      preparation of our financial statements. These estimates relate primarily to
      our
      allowance for doubtful accounts receivable and the recognition and measurement
      of potential impairment on long-lived and intangible assets. Our strategy for
      managing doubtful accounts includes stringent, centralized credit policies
      and
      collection procedures for all customer accounts. We utilize a credit risk rating
      system in order to measure the quality of individual credit transactions. We
      strive to identify potential problem receivables early, take appropriate
      collection actions, and maintain adequate reserve levels. Management reviews
      its
      long-lived and intangible assets for impairment whenever changes in
      circumstances or other events indicate potential impairment. Management has
      determined that the allowance for doubtful accounts and impairment losses are
      adequate at September 30, 2007.




**Off-Balance
      Sheet Arrangements**





We
      do not
      currently have any off-balance sheet arrangements that have or are reasonably
      likely to have a current or future effect on our financial condition, changes
      in
      financial condition, revenues or expenses, results of operations, liquidity,
      capital expenditures or capital resources that are material to our
      stockholders.





**ITEM
      3****. CONTROLS AND PROCEDURES**





As
      of the
      end of the period covered by this report, our sole executive officer that serves
      as both the Chief Executive Officer and Chief Financial Officer (the “Officer”)
      conducted an evaluation of the effectiveness of our disclosure controls and
      procedures (as defined in Rule 13a-15(e) and Rule 15d-15(e) of the Securities
      Exchange Act of 1934, as amended (the "Exchange Act")). Based upon this
      evaluation, the Officer concluded that our disclosure controls and procedures
      are effective to ensure that information required to be disclosed by us in
      the
      reports that we file or submit under the Exchange Act are recorded, processed,
      summarized and reported, within the time periods specified in the Securities
      and
      Exchange Commission's rules and forms.




16




In
      addition, no change in our internal control over financial reporting occurred
      during the fiscal quarter ended September 30, 2007 that has materially affected,
      or is reasonably likely to materially affect, our internal control over
      financial reporting.




**


**PART
      II****: OTHER INFORMATION**




**ITEM
      1. LEGAL PROCEEDINGS**





None.





**ITEM
      2 - UNREGISTERED SALES OF
      EQUITY SECURITIES AND USE OF PROCEEDS**





None.





**ITEM
      3.** 
**DEFAULTS UPON SENIOR SECURITIES**





None.





**ITEM
      4 - SUBMISSION OF MATTERS
      TO A VOTE OF SECURITY HOLDERS**





None.




**ITEM
      5.** 
**OTHER INFORMATION**





None.





**ITEM
      6****. EXHIBITS**





Exhibit
                No.
            Description
                of Exhibit3.1
            Certificate
                of Incorporation of the Company (1)3.2
            By-laws
                of the Company (1)4.1
            Common
                Stock Purchase Warrant issued to Sichenzia Ross Friedman Ference
                LLP
                (1)10.1
            Stock
                Purchase Agreement entered between the Company and Western Securities
                Corp. (1)10.2
            Note
                Payable to Western Securities Corp. (1)14.1
            Code
                of Ethics. (1)21.1
            List
                of Subsidiaries of the Company. (1)31.1
            Certification
                of Chief Executive Officer and Chief Financial Officer Pursuant to
                Securities Exchange Act Rule 13a-14(a)/15d-14(a)32.1
            Certification
                of Chief Executive Officer and Chief Financial Officer Pursuant to
                Securities Exchange Act Rule 13a-14(b) and 18 U.S.C. Section
                1350







(1)
            Incorporated
                by reference to the Form SB-2 Registration Statement filed with the
                Securities and Exchange Commission on May 8,
                2007.




17




**SIGNATURES**





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




**CLASSIC
              COSTUME,
              INC**November
                14,
                2007
            By:
            /s/ Carl
              ObergCarl
              ObergChief
              Executive Officer,
              President, Secretary, Chief Financial Officer, Treasurer, Principal
              Accounting Officer and Director




18