Well then, 18 participants have signed up, and the date for the tournament is tomorrow, 19 hours, 43 minutes from now on. Now since I don't want to postpone the event yet again, I am forced to make some changes, like stated above.
The new mechanismPart I ~ The preliminariesThe starting field is now cut down to 18 fighters, who are going to be put into 6 groups of 3. Each member of a group will fight 2 times against the other members. Points will be given depending on the outcome of each fight. The best 2 of each group forthcome.
The 12 remaining fighters will again be put into groups, this time into 4 groups of 3. And again, each member will fight 2 times against the other 2 members. Points will be given depending on the outcome of each fight. The best 2 of each group will then enter the finals.
Part II ~ The finalsThe 8 fighters who were successful in the preliminaries are going to fight eachother in K.O. rounds, which means that a loss will be the end of the tournament for them. The 2 participants of each K.O. round will be determined by principle of contingency. This means, a die roll will decide who will fight against who.
The pointsFor each win in the preliminaries, the fighters will get 2 points, but like I said, the fights in the preliminaries are restricted to a maximum of 5 minutes, If none of the fighters have defeated their opponent by then, both will get 1 point. This doesn't mean though, that one could just run away for 5 minutes. If there is no action being taken to actually win the fight, a disqualification will be the result.
So, to summarize:
A win = 2 points
A tie = 1 point
A loss = 0 points
Run away for 5 minutes = disqualification
The prizesEven though we didn't get the entry fees of 24 participants, the prizes will remain unchanged. Promised is promised

1st) 300,000
2nd) 200,000
3rd) 100,000
That's all folks. I hope I formulated everything well enough to be understandable. I'm sorry for the inconvenience, but not everything turns out how it was planned in the beginning. Acts of god, you know.

Anyways, good luck to all the participants, and to a hopefully good show!
PS: Sorry for
triple-posting.
