If this is a final draft, then why did you say v.1?
Seriously, use a font until your typography gets better. And despite the fact that you like the colors, they clash. I'd recommend trying a few different shades until the colors stop hurting your eyes when you stare at where they intersect.
Maybe even add some more detail, definition and shading, because I can't really tell that this is a cat dragon. It looks more like a snake with wings and facial hair. Cats have fur, paws, claws, and whiskers. Dragons have scales, long teeth, and breathe fire. Figure out a better way to mix the two.
mongoid
That logo needs some serious cleaning up.
Why don't you use a font instead of writing out the letters yourself. And the green scales with pink stripes is a bad choice in color. I hope this isn't your final draft.
LycanDiva
No, it's not my final draft. I did the letters myself because I like the character of my own lettering on the logo better than any plain old font, since it just feels more personal. On the colors, I actually like the light green and pink together so those are the final colors, along with the red circle and lettering and the yellow banners. So, the lettering and colors are going to be the same in the final draft, I just need to fix the quality...which means retracing the drawing because I only saved the .gif, not the .fla file I had worked for about 2 hours on. -_-;