I like it, but some recommendations.
First I just want to say it's great to see someone trying to make a fighting game, so a lot of respect to you there off the bat.
Second this game could be improved vastly if you could reduce the amount the computer relies on the fireballs, once I got to Piccolo he just wouldn't stop, and the stream of fireballs between him and me made it almost impossible to progress.
I'd also recommend adding a few more moves, combos too if you can, and changing the animations on each fighter to make them more unique, entirely different moves lists would be best, but might be difficult.
Finally I think this could be one of the best fighting games on Newgrounds if you can sort out these issues, though that's just my opinion. Adding some music would be nice, but not a great concern.
Good luck with the future development, can't wait to see the finished result. :)