Needs improvment
Excellent use of the LF sprites. I can see where you going with this, and is an awesome concept. The fight sequence is nicely done, considering what you had to work with, and you really used everything that was available to you.
However, I'm disappointed that I didn't get the authentic Little Fighter feeling. I suggest you try to incorporate the running aspect of the characters, the voices, as well as the "recovery from knockdown" move. Overall, I think the fights needs to be set to a faster pace to make it more to give it the LF authenticity.
Nicely done :) looking forward to future work.