United States 
      SECURITIES AND EXCHANGE COMMISSION 
      Washington, D.C. 20549
      FORM 10-K[ X ]
      ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
      1934 FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2004Commission File
      Number0-9392CLXInvestment Company, Inc.(Exact Name of Registrant as Specified in Its Charter) Colorado
      
      84-0749623(State or other jurisdiction of
      incorporation or organization)
      
      (IRS Employer Identification No.)43180
      Business Park Dr., Suite 202 Temecula, CA 92590(Address of
      principal executive offices)(951) 587-9100 (Issuers telephone number, including area code)CLX Energy, Inc.
      518 17th Street, Suite 745, Denver, CO 80202
      (Former name or former address, if changed since last report) Securities registered pursuant to
  Section 12(g) of the Exchange Act: NoneCommon Stock, $0.01 par value(Title of Class) Check
  whether the Issuer (1) filed all reports required to be filed by Section 13 or
  15(d) of the Securities Exchange Act of 1934 during the preceding 12 months
  (or for such shorter period that the Registrant was required to file such
  reports), and (2) has been subject to such filing requirements for the past 90
  days.
  Yes [ ] No [X]
    Check if there is no disclosure of delinquent filers in
  response to Item 405 of Regulation S-X contained in this form, and no
  disclosure will be contained, to the best of registrant's knowledge, in
  definitive proxy or information statements incorporated by reference in Part
  III of this Form 10-K or any amendment to this Form 10-K. [ X ]
    
    The aggregate market value of the voting stock held by non
  affiliates computed by reference to the price at which the stock was sold, or
  the average bid and asked prices of such stock as September 30, 2004 was $.35,
  based on the last sale price of $0.35 as reported on the bulletin board.
    The Registrant had 1,797,634 shares of common stock, $0.01
  par value, outstanding as of December 29, 2004 1   CLX Investment Company, Inc.
  (formerly CLX Energy, Inc.) TABLE OF CONTENTS PAGE NUMBERPART I
      
      
      3ITEM 1.
      
      BUSINESS
      3Description of Business
      3Company Strategy
      3ITEM 2.
      
      DESCRIPTION OF PROPERTY
      4ITEM 3.
      
      LEGAL PROCEEDINGS
      4ITEM 4.
      
      SUBMISSION OF MATTERS TO A VOTE OF
      SECURITY HOLDERS
      4PART II
      
      
      4ITEM 5.
      
      MARKET FOR COMMON EQUITY AND RELATED
      STOCKHOLDER MATTERS
      4Market Information
      4Holders
      5Dividends
      5Recent Sales of Unregistered
      Securities
      5ITEM 6.
      
      MANAGEMENT'S DISCUSSION AND ANALYSIS
      OR FINANCIAL CONDITION AND RESULTS OF OPERATIONS
      5PLAN OF OPERATIONS
      5Liquidity and Capital Resources
      6RESULTS OF OPERATIONS
      6RISK FACTORS
      6Risk Related to our Business
      7Risks Related to our Operations as a
      Business Development Company
      7ITEM 7.
      
      FINANCIAL STATEMENTS
      8ITEM 8.
      
      CHANGES IN AND DISAGREEMENTS WITH
      ACCOUNTANTS
      8PART III
      
      
      8ITEM 9.
      
      DIRECTORS AND EXECUTIVE OFFICERS,
      PROMOTERS AND CONTROL PERSONS; COMPLIANCE WITH SECTION 16(A) OF THE
      EXCHANGE ACT
      8ITEM 10.
      
      EXECUTIVE COMPENSATION
      9Remuneration Paid to Executives
      10Remuneration Paid to Directors
      10Employment Agreements
      10Employee Benefits
      10ITEM 11.
      
      SECURITY OWNERSHIP OF CERTAIN
      BENEFICIAL OWNERS AND MANAGEMENT
      11ITEM 12.
      
      CERTAIN RELATIONSHIPS AND RELATED
      TRANSACTIONS
      11ITEM 13.
      
      EXHIBITS AND REPORTS ON FORM 8-K
      12SIGNATURES
      14 2  PART I Forward Looking StatementsThis document
  includes statements that may constitute forward-looking statements made
  pursuant to the Safe harbor provisions of the Private Securities Litigation
  reform Act of 1995. The Company would like to caution certain readers
  regarding certain forward-looking statements in this documents and in all if
  its communications to shareholders and others, on managements projections,
  estimates and all other communications. Statements that are based on
  managements projections, estimates and assumptions are forward-looking
  statements, the words believe, expect, anticipate, intend and similar
  expressions generally identify forward-looking statements. While the Company
  believes in the veracity of all statements made herein, forward-looking
  statements are necessarily based upon a number of estimates, and assumptions
  that, while considered reasonable by the Company, are inherently subject to
  significant business, economic and competitive uncertainties and contingencies
  and know and unknown risks. Many of the uncertainties and contingencies can
  affect events and the Company's actual results and could cause its actual
  results to differ materially from this expressed in any forward-looking
  statements made by, or on behalf, of the Company. ITEM 1. DESCRIPTION OF BUSINESS
    CLX Investment Company, Inc. ("the Company" or "CLXN") was
  incorporated under the laws of Colorado under the name of Calvin Exploration
  Company, Inc. on December 12, 1977 to engage in any lawful activity as shall
  be appropriate under laws of the State of Colorado. The Company was organized
  to engage in on-shore oil and gas exploration, development and production in
  the continental United States. The Company's Oil and gas activities
  concentrated primarily in Colorado, Kansas, Oklahoma and Wyoming. In 1993 the
  name of the Company was changed to CLX Energy, Inc. Up until this year the
  Company has engaged in only one industry segment and line of business, namely
  the acquisition, exploration, development and operation of oil and gas
  properties for its own account.
    On May 24, 2004 the company appointed new management and
  moved its headquarters to Temecula, CA. At the same time the Company formed
  CLX Oil & Gas, LLC a wholly owned subsidiary of CLX Energy, Inc. and
  transferred all of the oil and gas operations of the Company (including the
  assets and liabilities pertaining to such operations) into CLX Oil & Gas, LLC.
  On September 1, 2004 the Company sold 100% of its interest in CLX Oil & Gas,
  LLC to certain shareholders of the Company in exchange for shares of CLX
  Energy, Inc. The Board of Directors approved the "Securities purchase and Sale
  Agreement" and also obtained a fairness opinion from Lehrer Financial and
  Economic Advisory Service indicating that the Securities Purchase and Sale
  Agreement was a fair and equitable exchange. All Gas and Oil operations are
  being reported as discontinued operations in the accompanying financial
  reports. 
    On September 13, 2004 the Company's Board of Directors
  elected to be regulated as a business investment company under the Investment
  Company Act of 1940. As a business development company ("BDC"), the Company is
  required to maintain at least 70% of its assets invested in "eligible
  portfolio companies", which are loosely defined as any domestic company which
  is not publicly traded or that has assets less than $4 million. On September
  1, 2004 the Company changes it's name to CLX Investment Company, Inc. to
  properly reflect the nature of its business. 
    There were no portfolio companies at the fiscal year ending
  September 30, 2004. Subsequently, on December 6, 2004 the company entered into
  an agreement to acquire 40% of eStrategy Solutions, Inc. a four-year-old
  e-learning and cost recovery solutions company, in exchange for $60,000 and an
  agreement to provide an operating line of credit. eStrategy Solutions, Inc is
  the Company's only portfolio investment at this time.Investment Strategy
    CLX Investments Company, Inc. intends to make strategic
  investments in cash-flow positive companies with perceived growth potential.
  The Investment Committee has adopted a charter wherein these two criteria will
  be weighed against other criteria including strategic fit, investment amount,
  management ability, etc. In principle, the Company will prefer to make
  investments in companies where the Company can acquire at least a 51%
  ownership interest in the outstanding capital of the portfolio company, or
  exert some other management control.
    As a Business Development Company, the Company is required to
  have at least 70% of its assets in "eligible portfolio companies." It is
  stated in the Investment Committee Charter that the Company will endeavor to
  maintain this minimum asset ratio. 3  Portfolio Investments
    The Company presently has one portfolio investment: eStrategy
  Solutions, Inc., a Texas corporation specializing in the development, and
  marketing of e-learning software solutions. The Company owns 40% of the common
  stock of eStrategy Solutions, Inc., which it acquired in exchange for cash and
  an open line of credit. The investment in strategy Solutions, Inc. occurred
  subsequent to September 30, 2004, and is therefore omitted from the
  accompanying financial statements.Employees
    Exclusive of eStrategy Solutions Inc., CLX Investment
  Company, Inc. presently has no employees who serve in administrative
  positions. Management has entered into an agreement with Javelin Advisory
  Group to provide administrative support for a monthly fee of $12,500. In this
  way overhead costs are kept at a minimum while still being able have a very
  talented administrative staff as part of the management team.ITEM 2. DESCRIPTION OF PROPERTY
    The Company uses 2,337 square feet in Temecula, CA, on a
  month-to-month basis as part of its management contract with Javelin Advisory
  Group. 
    Management believes that its facilities are adequate for its
  present business. ITEM 3. LEGAL PROCEEDINGS
    CLX Investment Company, Inc. is not a party to any material
  pending legal proceedings and no such actions by, or to the best of its
  knowledge, against CLX Investment Company, Inc. has been threatened. ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
    A special meeting of shareholders of CLX Investments Company,
  Inc. was held on August 30, 2004 where the following actions were taken by a
  majority vote of shareholders: 
  1. The Company's Articles of Incorporation were amended: 
  a. To authorize 2,000,000,000 shares of capital stock of the company, of which
  1,980,000,000 with a par value of $.01 will relate to common stock, and
  20,000,000 with a par value of $.01 will relate to preferred stock, subject to
  further designation by the Board of Directors of the Company.
  b. To change the name of the corporation to CLX Investment Company, Inc. 
  c. To permit action upon the written consent of less than all shareholders of
  the Company. 
 
  d. To authorize the Company's Board of Directors, without the consent of the
  stockholders of the corporation, to adopt any recapitalization affecting the
  outstanding shares of capital stock of the corporation by effecting a forward
  or reverse split of all of the outstanding shares of any class of capital
  stock of the corporation, with appropriate adjustments to the corporation's
  capital accounts, provided that the recapitalization does not require any
  amendment to the Articles of Incorporation of the corporation.
  2. To approve the Company's sale of CLX Oil & Gas, LLC, a wholly-owned
  subsidiary of the Company, to certain shareholders of the Company.
  3. To approve the Company's changing its state of incorporation from Colorado
  to Nevada. PART II ITEM 5. MARKET
  FOR COMMON EQUITY AND RELATED STOCKHOLDERS MATTERSMarket Information
    The Company's Common Stock is traded on the OTCBB
  (Over-The-Counter Bulletin Board) under the symbol "CLXN". The following table
  sets forth the trading history of the Common Stock on the Bulletin Board for
  each quarter since July 2003 through September 30, 2004, as reported by Dow
  Jones Interactive. The quotations reflect inter-dealer prices, without retail
  mark-up, markdown or commission and may not represent actual transactions. Quarter Ending
    Quarterly High
    Quarterly Low
    Quarterly Close9/30/2003
    1.78
    1.40
    1.5012/31/2003
    1.70
    0.55
    0.753/31/2004
    2.30
    0.20
    0.376/30/2004
    0.39
    0.16
    0.169/30/2004
    0.19
    0.015
    0.015
 4  Holders of
  recordAs of September 30, 2004 there were approximately 441 holders
  of record of the Company's common stock. There were 1,197,634 shares
  outstanding with a par value of $.01. Dividends
    The Company has never paid a cash dividend on its common
  stock. Payment of dividends is at the discretion of the Board of Directors.
  The Board of Directors plans to retain earnings, if any, for operations and
  does not intend to pay dividends in the foreseeable future.Recent Sales of Unregistered Securities
  
    Except as otherwise noted, the securities described in this
  Item 5 were issued pursuant to the exemption from registration provided by
  Section 4(2) of the Securities Act of 1933. Each such issuance was made
  pursuant to individual contracts, which are discrete from one another and are
  made only with persons who were sophisticated in such transactions and who had
  knowledge of and access to sufficient information about the Company to make an
  informed investment decision. Among the information provided was the fact that
  the securities issued were restricted securities. No commissions were paid in
  connection with the transactions described below unless specifically noted.
    The Sale of the Oil & Gas, LLC resulted in the cancellation
  of 1,592,836 shares and 159,284 shares being reissued. The 1,592,836 shares
  were cancelled on October 5, 2004 and the 159,284 shares were issued on
  October 7, 2004. 
    Between July 7, 2004 and December 15, 2004 the company issued
  convertible debentures in the amount of $150,000.00. All debentures are due
  within six months of issue and carry a rate of interest of eight percent (8%)
  per year on the unpaid principal. The holders of the debentures are entitled,
  at their option, to convert the principal amount of these debentures plus
  accrued interest into shares of the Company's common stock at a price per
  share equal to a 50% discount to current market. In the event of bankruptcy
  all debentures convert to shares of common stock.
    Between October 7, 2004 and December 29, 2004 the company
  issued 600,000 shares of common stock upon the conversion of $6,000.00 of
  these convertible debentures. The stock was issued under a regulation E
  exemption. These debentures were converted at $0.01. If the remaining
  debentures were issued at the same $0.01 it would result in the issuance of an
  additional 14,400,000 shares of common stock further diluting stockholders
  positions.
    As of December 29, 2004 CLX Investment Company, Inc had
  1,797,634 shares of common stock outstanding. ITEM 6. MANAGEMENTS DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
    The following information should be read in conjunction with
  the consolidated financial statements and notes thereto appearing elsewhere in
  this Form 10-K. Plan of Operation
    On September 13, 2004 the Company's Board of Directors
  elected to be regulated as a business investment company under the Investment
  Company Act of 1940. As a business development company ("BDC"), the Company is
  required to maintain at least 70% of its assets invested in "eligible
  portfolio companies", which are loosely defined as any domestic company which
  is not publicly traded or that has assets less than $4 million.
    As part of the over all acquisition and finance plan, the
  Board of Directors authorized management to file Form 1-E with the Commission
  notifying of its intent to sell up to $5 million of the Company's common stock
  under a Regulation E exemption. 
  CLX Investment Company, Inc. presently has one portfolio investment, eStrategy
  Solutions, Inc, which was acquired subsequent to September 30, 2004. 
    
    No additional portfolio investments were made this past year.
  Management anticipates making additional portfolio investments as
  opportunities present themselves in the coming year.
    The only commitment of material value is a commitment to
  provide a $250,000 line of credit to eStrategy Solutions, Inc. 
    In October of 2004 CLX Investment Company, Inc. signed a
  management contract with Javelin Advisory Group to provide administrative
  services. Javelin will provide services such as portfolio management,
  accounting, public relations, and various other administrative functions as
  well as office space. This service will provide a talented pool of personnel
  at very reduced price compared to hiring that same talent on an individual
  basis. 5  Liquidity and Capital Resources
    The Company's financial statements present an impairment in
  terms of liquidity. As of September 30, 2004 the Company had $130,000 in current
  assets and the Company's total liabilities exceeded total assets by
  approximately $22,500. During the fiscal year, ending September 30, 2004, The
  Oil and Gas operation was spun off and is being reported on the financials as
  discontinued operations. In the year ended September 30, 2003, which is being
  reported as discontinued operations, the company reported that current assets
  exceeded current liabilities by approximately $46,000. The Company has accumulated $697,962 of net operating
  losses through September 30, 2004, which may used to reduce taxes in future
  years through 2022. The use of these losses to reduce future income taxes will
  depend on the generation of sufficient taxable income prior to the expiration
  of the net operating loss carry-forwards. The potential tax benefit of the net
  operating loss carry-forwards have been offset by a valuation allowance of the
  same amount. Under continuing operations the Company has not yet established revenues to cover its
  operating costs. Management believes that the Company will soon be able to
  generate revenues sufficient to cover its operating costs through the
  acquisition of operating subsidiaries. In the event the Company is unable to
  do so, and if suitable financing is unavailable, there is substantial doubt
  about the Company's ability to continue as a going concern.Results of Operations For the year ended September 30, 2004 the
  Company had a net loss of $22,500 for its continuing operations.   The
  discontinued operations  had a net profit of $55,625 for year ended September
  30, 2003 and a net loss of $368,855 for year ended September 30, 2002. Under its continuing operations, focus and
  effort is being placed on the acquisition of operating companies that meet the
  criteria as set forth by the investment Committee of the Company. RISK FACTORS We are
  subject to various risks that may materially harm our business, financial
  condition and results of operations. You should carefully consider the risks
  and uncertainties described below and the other information in this filing
  before deciding to purchase our common stock. If any of these risks or
  uncertainties actually occurs, our business, financial condition or operating
  results could be materially harmed. In that case, the trading price of our
  common stock could decline and you could lose all or part of your investment.  6  RISKS RELATED TO OUR BUSINESS We Will Need to Raise
  Additional Capital to Finance Operations
  Past operations have relied on monies generated from profits as well as
  external financing to fund our operations. However, We will need to rely
  entirely on external financing for the next year to raise additional capital
  to fund our anticipated operating expenses and future expansion. Among other
  things, external financing will be required to cover our operating costs. We
  cannot assure you that financing whether from external sources or related
  parties will be available if needed or on favorable terms. The sale of our
  common stock to raise capital may cause dilution to our existing shareholders.
  Our inability to obtain adequate financing will result in the need to curtail
  business operations. Any of these events would be materially harmful to our
  business and may result in a lower stock price. There is Substantial Doubt About Our Ability to Continue as a Going Concern
  Due to Recurring Losses and Working Capital Shortages, Which Means that We May
  Not Be Able to Continue Operations Unless We Obtain Additional Funding
  The report of our independent accountants on our September 30, 2004 financial
  statements included an explanatory paragraph indicating that there is
  substantial doubt about our ability to continue as a going concern due to
  recurring losses and working capital shortages. Our ability to continue as a
  going concern will be determined by our ability to obtain additional funding.
  Our financial statements do not include any adjustments that might result from
  the outcome of this uncertainty. Our Common Stock May Be Affected By Limited Trading Volume and May
  Fluctuate Significantly
  Prior to this offering, there has been a limited public market for our common
  stock and there can be no assurance that an active trading market for our
  common stock will develop. As a result, this could adversely affect our
  shareholders' ability to sell our common stock in short time periods, or
  possibly at all. Our common stock has experienced, and is likely to experience
  in the future, significant price and volume fluctuations that could adversely
  affect the market price of our common stock without regard to our operating
  performance. In addition, we believe that factors such as quarterly
  fluctuations in our financial results and changes in the overall economy or
  the condition of the financial markets could cause the price of our common
  stock to fluctuate substantially. Substantial fluctuations in our stock price
  could significantly reduce the price of our stock.Our Common Stock is Traded on the "Over-the-Counter Bulletin Board," Which
  May Make it More Difficult For Investors to Resell Their Shares Due to
  Suitability Requirements
  Our common stock is currently traded on the Over the Counter Bulletin Board (OTCBB)
  where we expect it to remain for the foreseeable future. Broker-dealers often
  decline to trade in OTCBB stocks given that the market for such securities is
  often limited, the stocks are more volatile, and the risk to investors are
  greater. These factors may reduce the potential market for our common stock by
  reducing the number of potential investors. This may make it more difficult
  for investors in our common stock to sell shares to third parties or to
  otherwise dispose of them. This could cause our stock price to decline. We Could Fail to Retain or Attract Key PersonnelOur future success depends, in significant part, on the continued services
  of Shane Traveller our Chief Executive. We cannot assure you that we would be
  able to find an appropriate replacement for key personnel. Any loss or
  interruption of our key personnel's services could adversely affect our
  ability to develop our business plan. We have no employment agreements or life
  insurance on Mr. Traveller. California Law and Our Charter May Inhibit a Takeover of Our Company That
  Stockholders May Consider Favorable
  Provisions of California law, such as its business combination statute, may
  have the effect of delaying, deferring or preventing a change in control of
  our company. As a result, these provisions could limit the price some
  investors might be willing to pay in the future for shares of our common
  stock. 7  Our Officers
  and Directors Have the Ability to Exercise Significant Influence Over Matters
  Submitted for Stockholder Approval and Their Interests May Differ From Other
  StockholdersOur executive officers and directors have the ability to appoint a majority to
  the Board of Directors. Accordingly, our directors and executive officers,
  whether acting alone or together, may have significant influence in
  determining the outcome of any corporate transaction or other matter submitted
  to our Board for approval, including issuing common and preferred stock, and
  appointing officers, which could have a material impact on mergers,
  acquisitions, consolidations and the sale of all or substantially all of our
  assets, and also the power to prevent or cause a change in control. The
  interests of these board members may differ from the interests of the other
  stockholders. RISKS
  RELATED TO OUR OPERATION AS A
  BUSINESS DEVELOPMENT COMPANY We May Change Our Investment Policies Without Further Shareholder Approval
  Although we are limited by the Investment Company Act of 1940 with respect to
  the percentage of our assets that must be invested in qualified investment
  companies, we are not limited with respect to the minimum standard that any
  investment company must not meet, nor the industries in which those investment
  companies must operate. We may make investments without shareholder approval
  and such investments may deviate significantly from our historic operations.
  Any change in our investment policy or selection of investments could
  adversely affect our stock price, liquidity, and the ability of our
  shareholders to sell their stock.Our Investments May Not Generate Sufficient Income to Cover Our Operations
  We intend to make investments into qualified companies that will provide the
  greatest overall return on our investment. However, certain of those
  investments may fail, in which case we will not receive any return on our
  investment. In addition, our investments may not generate income, either in
  the immediate future, or at all. As a result, we may have to sell additional
  stock, or borrow money, to cover our operating expenses. The effect of such
  actions could cause our stock price to decline or, if we are not successful in
  raising additional capital, we could cease to continue as a going concern.ITEM 7. FINANCIAL STATEMENTSSee the financial statements annexed to this report. ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
  FINANCIAL DISCLOSURE
  On November 8, 2004 The Board of Directors of CLX Investment Company, Inc.
  engaged HJ & Associates, LLC as its independent auditors. The former auditors,
  Easton and Barsch, have discontinued doing audits for public companies. PART III. ITEM 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONSThe executive officers and directors of the Company as of December 15, 2004
  are as follows: Name Age Position Name
        Age
        PositionShane Traveller
        38
        CEO, CFO and
        ChairmanSteve Peacock
        59
        Secretary, COORobert McCoy
        62
        DirectorArthur Stone
        61
        Director
 8  The business
  experience of each of the persons listed above is as follows: 
  Shane Traveller, CEO, CFO, Chairman. Mr. Traveller brings an extensive
  background in service to public companies both as an independent auditor, then
  later as an officer and director. He is a licensed CPA and sits on the board
  of directors of a number of other public companies where he serves as chairman
  of the audit committee. From 1998 though 2001, Mr. Traveller served the Chief
  Financial Officer of Trimedyne, Inc., a NASDAQ NMS-listed medical device
  company. In 2002, he was named President and COO where he oversaw all
  operations, product development and manufacturing in addition to financial
  reporting, investor relations, and information systems for all aspects of the
  company's operations. In 2003, Mr. Traveller left Trimednye to become a
  partner with Javelin Holdings, Inc. With a company he co-founded prior to
  joining Trimedyne, Mr. Traveller established supply channels in Eastern
  Europe, negotiated a letter of intent and subsequent joint venture agreement
  with a Russian supplier, and oversaw the market release of five new products.
  He raised seed capital and set up the production facility, and internal
  accounting controls. As a consultant and independent auditor, Mr. Traveller
  has been closely involved in the development and implementation of internal
  controls, management of staff, preparation and filing of countless financial
  statements and SEC filings. He has led clients through IPO's and secondary
  offerings, private placements, mergers and acquisitions, and conversions to a
  Business Development Company under the Investment Act of 1940.
  Steve Peacock, Secretary, COO - Mr. Peacock has fifteen years of experience in
  seeking out and identifying emerging growth investment opportunities, both
  startup companies and work out assignments and is skilled at analyzing
  management structure and setting up programs for raising capital. He has
  working knowledge of taking companies through the process of becoming publicly
  traded, as well as assistance with strategic planning, corporate
  communications including shareholder relations and internet marketing as well
  as an extensive background in SEC requirements and filings utilizing broad
  network of legal, accounting, insurance, Internet technology and public
  relations affiliates. In addition to his work with and in publicly traded
  companies, Mr. Peacock has a background in the real estate development
  industry in all phases of minor league professional sports development,
  primarily soccer, in both American and European venues and has owned and
  operated minor league professional soccer franchises in Orange County,
  Riverside and San Francisco, CA. Mr. Peacock has an extensive operating
  knowledge of the Business Development Company process, having operated the
  first BDC on the west coast from 1998 to 2000. During that period, he was
  directly responsible for raising approximately $8M under Regulation E,
  creating market liquidity for the company's stock and building the company's
  investor base from 250 to over 4,000 shareholders.
  Robert McCoy, Director - Mr. McCoy is an experienced senior executive. As
  president of Marquis Elevator, Inc. from 1975 to 1990, he built and then later
  sold the largest independent elevator company in Nevada. Subsequent to selling
  Marquis Elevator, Mr. McCoy was the General Manager of Canyon Investments,
  Inc. in Las Vegas Nevada from 1990 to 1996. Since 1996, Mr. McCoy has served
  as Facilities Manager for the Church of Jesus Christ of Latter Day Saints,
  responsible for 487,000 square feet of facilities in the Las Vegas area. Mr.
  McCoy is a graduate of the University of Tennessee.
  Arthur Stone, Director - Mr. Stone is a seasoned entrepreneur and business
  executive with a strong background in product engineering and development. He
  is presently the President and Chief Executive Officer of Stone Technologies
  Corporation in Austin, Texas, a position he has held since 1991. Stone
  Technologies develops, engineers and brings to market new products in the
  security and RF data transmission industries. Prior to entering the business
  field, Mr. Stone served six years in law enforcement. He has a degree in
  electrical engineering from the University of Texas.MeetingsDuring the year ended September 30, 2004 the Board of Directors met on
  seven occasions. Each incumbent Director attended at least 75% of the total
  number of meetings of the Board of Directors. Compensation Of
  DirectorsSubsequent to
  September 30, 2004 the Company entered into an agreement with our independent
  directors to have each becompensated $1,000 each per
  month for services provided as a Director. Our independent directors received
  no other consideration in exchange for their services to the company, nor did
  they perform any service that would fall outside the scope of their duties as
  directors.ITEM 10. EXECUTIVE COMPENSATIONSummary Compensation Table
    The following table sets forth the annual and long-term
  compensation for services in all capacities for the year ended September 30,
  2004 paid to Shane Traveller, our Chief Executive Officer for the fiscal 2004.
  No other executive officers received compensation exceeding $100,000 during
  the year ended September 30, 2004. 9   Summary Compensation TableAnnual
    Compensation
    Long Term
    CompensationAwardsName and Principal
    Position
    
    Year
    
    Salary
    
    Bonus
    
    Other Annual
    Compensation
    
    Restricted Stock
    Award(s)
    
    Securities Underlying
    Options
    
    All Other CompensationShane Traveller
    
    2004
    
    $-0-
    
    $-0-
    
    $-0-
    
    --
    
    --
    
    --
 Employment Agreements
    The Company does not currently have any employment agreements
  in place. It does have a management contract in place with Javelin Advisory
  Group for administrative services. The contract is for thirty six months at $12,500
  per month and includes all management and administrative costs. This service
  will provide all administrative and public relations functions and will
  eliminate all other overhead and fixed costs associated with administrative
  personnel.Indemnification
    As permitted by the provisions of the General Corporation Law
  of the State of Colorado, the Company has the power to indemnify any person
  who was or is a party or is threatened to be made a party to any threatened,
  pending or completed action, suit or proceeding, whether civil, criminal,
  administrative or investigative, by reason of the fact that the person is or
  was a director, officer, employee or agent of the corporation if such officer
  or director acted in good faith and in a manner reasonably believed to be in
  or not opposed to the best interest of the Company. Any such person may be
  indemnified against expenses, including attorneys' fees, judgments, fines and
  settlements in defense of any action, suit or proceeding. The Company does not
  maintain directors and officers liability insurance.Compliance With Section 16(a) of the Securities Act of 1934
    Section 16(a) of the Securities Exchange Act of 1934 requires
  directors and executive officers, and persons who own more than 10% of a
  registered class of our equity securities to file with the Securities and
  Exchange commission initial reports of ownership and reports of changes in
  ownership of Common Stock and other of our equity securities. Officers,
  directors and greater than 10% shareholders are required by SEC regulations to
  furnish the Company with copies of all Section 16(a) forms they file. To our
  knowledge, none of the officers and directors of the company have filed the
  required reports with respect to our stock. 10  ITEM 11.
  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENTThe following table sets forth information, to the best
  knowledge of the Company, as of September 30, 2004 with respect to each person
  known by CLX Investment Company, Inc. to own beneficially more than 5% of the
  outstanding Common Stock, each director and officer, and all directors and
  officers as a group. Name and Address(1)
    --------------------------
    Title of Class
    ---------------------
    Amount
    Owned
    -------------------------
    Percentage
    of Class (2)
    ----------------Shane Traveller
    Director
    Common
    -0-
    N/ARobert McCoy
    Director
    Common
    -0-
    N/AArthur Stone
    Director
    Common
    -0-
    N/ASteve Peacock
    Director
    Common
    -0-
    N/AAll Directors and Officers as a group
    Common
    -0-
    N/A (1) Unless indicated
  otherwise, the address for each of the above listed is c/o CLX Investment
  Company, Inc at 43180 Business Park Dr., Suite 202, Temecula, CA 92590.
  (2) The above percentages are based on 1,797,634 outstanding shares of common
  as of December 29, 2004. ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
   The Company's officers and directors are subject to the doctrine of
  corporate opportunities only insofar as it applies to business opportunities
  in which the Company has indicated an interest, either through its proposed
  business plan or by way of an express statement of interest contained in the
  Company's minutes. If directors are presented with business opportunities that
  may conflict with business interests identified by the Company, such
  opportunities must be promptly disclosed to the Board of Directors and made
  available to the Company. In the event the Board shall reject an opportunity
  that was presented to it and only in that event, any of the Company's officers
  and directors may avail themselves of such an opportunity. Every effort will
  be made to resolve any conflicts that may arise in favor of the Company. There
  can be no assurance, however, that these efforts will be successful. Subsequent to September 30, 2004 the Company entered in to an agreement with a
  related party to provide management and administrative services for $12,500
  per month. 11  ITEM 13.
  CONTROLS AND PROCEDURESEvaluation of Disclosure Controls and Procedures. Based on an
  evaluation under the supervision and with the participation of the our
  management as of a date within 90 days of the filing date of this Annual
  Report on Form 10-K, our principal executive officer and principal financial
  officer have concluded that our disclosure controls and procedures (as defined
  in Rules 13a-14(c) and 15d-14(c) under the Securities Exchange Act of 1934,
  are effective to ensure that information required to be disclosed in reports
  that we file or submit under the Exchange Act is recorded, processed,
  summarized and reported within the time periods specified in SEC rules and
  forms. 
    Changes in Internal Controls. There were no significant
  changes in our internal controls or in other factors that could significantly
  affect these controls subsequent to the date of their evaluation. There were
  no significant deficiencies or material weaknesses, and therefore there were
  no corrective actions taken. However, the design of any system of controls is
  based in part upon certain assumptions about the likelihood of future events
  and there is no certainty that any design will succeed in achieving its stated
  goal under all potential future considerations, regardless of how remote. ITEM 14. EXHIBITS AND REPORTS ON FORM 8-K
  (a)(1)(2) Financial Statements. See index to financial statements and
  supporting schedules.
  (a)(3) Exhibits.
  The following exhibits are filed as part of this statement:
    The exhibits listed below are required by Item 601 of
  Regulation S-B. Each management contract or compensatory plan or arrangement
  required to be filed as an exhibit to this Form 10-K has been identified. Exhibit No.
      Description
      Location3.1
      Articles
      of Incorporation
      Incorporated by reference to corresponding Exhibit previously filed.3.2
      Bylaws
      Incorporated by reference to corresponding Exhibit previously filed.4.1
      Form of
      Common Stock Certificate
      Incorporated by reference to corresponding Exhibit previously filed.99.1
      CEO
      Certification Pursuant to 18 USC, Section 1350, as Adopted Pursuant to
      Sections 302 and 906 of the Sarbanes-Oxley Act of 2002
      Filed
      herewith.99.2
      CFO
      Certification Pursuant to 18 USC, Section 1350, as Adopted Pursuant to
      Sections 302 and 906 of the Sarbanes-Oxley Act of 2002
      Filed
      herewith.
 (b) Reports on Form 8-K
  
  Form 8-K filed on May 25, 2004 in which the Company announced the resignation
  of three of the four members of the Board of Directors and the appointment of
  two new members of the Board of Directors. The Company also announced the
  resignation of the Chief Executive Officer as well as the resignation of
  Secretary and Treasurer of the Company and the appointment of new Officers by
  the Board of Directors to take their place. These changes were made in
  accordance with a Securities Purchase and Sale Agreement approved on the 24th
  day of May 2004. This agreement provides for a plan to transition the business
  of CLX from that of engaging in the oil and gas business to a small business
  investment company subject to the Investment Company act of 1940.
  Form 8-K filed on December 7, 2004 in which the Company notified the SEC that
  the Board of Directors had accepted the resignation of two of the three
  members of the Board of Directors and appointed to two new ones to take their
  place. The new directors are independent, non-affiliates of the Company and
  have agreed to one-year contracts to serve on the Company's Board. 12  ITEM 15. PRINCIPAL ACCOUNTANT FEES AND SERVICES 
  Audit Fees
      The aggregate fees billed by the Company's auditors for the
  professional services rendered in connection with the audit of the Company's
  annual financial statements for fiscal 2004 were approximately $4,500. The
  prior auditors fees for professional services for the review of financial
  statements were $1,339.00 for the fiscal 2004. The prior auditors fees for the
  reviews and audits of the financial statements for 2003 and 2002 were $9,292
  and $8,453 respectively.Audit Related Fees
  NoneTax Fees
  NoneAll Other Fees
  The aggregate fees billed by the Company's auditors for all other non-audit
  services rendered to the Company, such as attending meetings and other
  miscellaneous financial consulting in fiscal 2004 and 2003 were $0 and $0,
  respectively.   13  SIGNATURESIn accordance with Section 13 or 15 (d) of the Exchange Act. The
  Registrant caused this report to be signed on its behalf by the undersigned,
  
  thereunto duly authorized. Dated: January 12, 2005
      CLX Investment Company, Inc.By:/s/ Shane H. Traveller
      Shane H. Traveller
      Chief Executive Officer In accordance with the
  Exchange Act, this report has been signed below by the following persons on
  behalf of the Registrant and in the capacities and on the dates indicated. SIGNATURE
      TITLE
      DATE/s/ Shane H. TravellerShane H. Traveller
      Director
      January 12, 2005/s/ Robert McCoyRobert McCoy
      Director
      January 12, 2005/s/ Arthur StoneArthur Stone
      Director
      January 12, 2005    14  CLX Investment Company, Inc.
  a Colorado Corporation
  CERTIFICATION OF CHIEF EXECUTIVE OFFICER I, Shane
  H. Traveller, certify that: 
  1. I have reviewed this annual report on Form 10-K of CLX Investment Company,
  Inc.;
  2. Based on my knowledge, this annual report does not contain any untrue
  statement of a material fact or omit to state a material fact necessary to
  make the statements made, in light of the circumstances under which such
  statements were made, not misleading with respect to the period covered by
  this annual report; 
  3. Based on my knowledge, the financial statements, and other financial
  information included in this annual report, fairly present in all material
  respects the financial condition, results of operations and cash flows of the
  registrant as of, and for, the periods presented in this annual report; 
  4. The registrant's other certifying officer and I am responsible for
  establishing and maintaining disclosure controls and procedures (as defined in
  Exchange Act Rules 13a-14 and 15d-14) for the registrant and have: 
  a) designed such disclosure controls and procedures to ensure that material
  information relating to the registrant, including its consolidated
  subsidiaries, is made known to us by others within those entities,
  particularly during the period in which this annual report is being prepared;
  
  b) evaluated the effectiveness of the registrant's disclosure controls and
  procedures as of a date within 90 days prior to the filing date of this annual
  report (the "Evaluation Date"); and 
  c) presented in this annual report our conclusions about the effectiveness of
  the disclosure controls and procedures based on our evaluation as of the
  Evaluation Date; 
  5. The registrant's other certifying officers and I have disclosed, based on
  our most recent evaluation, to the registrant's auditors and the audit
  committee of registrant's board of directors (or persons performing the
  equivalent functions): 
  a) all significant deficiencies in the design or operation of internal
  controls which could adversely affect the registrant's ability to record,
  process, summarize and report financial data and have identified for the
  registrant's auditors any material weaknesses in internal controls; and 
  b) any fraud, whether or not material, that involves management or other
  employees who have a significant role in the registrant's internal controls;
  and 
  6. The registrant's other certifying officers and I have indicated in this
  annual report whether there were significant changes in internal controls or
  in other factors that could significantly affect internal controls subsequent
  to the date of our most recent evaluation, including any corrective actions
  with regard to significant deficiencies and material weaknesses. 
  Date: January 12, 2005/S/ Shane H. TravellerShane H. Traveller
  Chief Executive Officer 15  CLX Investment Company, Inc.
  a Colorado Corporation
  CERTIFICATION OF CHIEF FINANCIAL OFFICER I,
  Shane H. Traveller, certify that: 
  1. I have reviewed this annual report on Form 10-K of CLX Investment Company,
  Inc.;
  2. Based on my knowledge, this annual report does not contain any untrue
  statement of a material fact or omit to state a material fact necessary to
  make the statements made, in light of the circumstances under which such
  statements were made, not misleading with respect to the period covered by
  this annual report; 
  3. Based on my knowledge, the financial statements, and other financial
  information included in this annual report, fairly present in all material
  respects the financial condition, results of operations and cash flows of the
  registrant as of, and for, the periods presented in this annual report; 
  4. The registrant's other certifying officer and I am responsible for
  establishing and maintaining disclosure controls and procedures (as defined in
  Exchange Act Rules 13a-14 and 15d-14) for the registrant and have: 
  a) designed such disclosure controls and procedures to ensure that material
  information relating to the registrant, including its consolidated
  subsidiaries, is made known to us by others within those entities,
  particularly during the period in which this annual report is being prepared;
  
  b) evaluated the effectiveness of the registrant's disclosure controls and
  procedures as of a date within 90 days prior to the filing date of this annual
  report (the "Evaluation Date"); and 
  c) presented in this annual report our conclusions about the effectiveness of
  the disclosure controls and procedures based on our evaluation as of the
  Evaluation Date; 
  5. The registrant's other certifying officers and I have disclosed, based on
  our most recent evaluation, to the registrant's auditors and the audit
  committee of registrant's board of directors (or persons performing the
  equivalent functions): 
  a) all significant deficiencies in the design or operation of internal
  controls which could adversely affect the registrant's ability to record,
  process, summarize and report financial data and have identified for the
  registrant's auditors any material weaknesses in internal controls; and 
  b) any fraud, whether or not material, that involves management or other
  employees who have a significant role in the registrant's internal controls;
  and 
  6. The registrant's other certifying officers and I have indicated in this
  annual report whether there were significant changes in internal controls or
  in other factors that could significantly affect internal controls subsequent
  to the date of our most recent evaluation, including any corrective actions
  with regard to significant deficiencies and material weaknesses. 
  Date: January 12, 2005/S/ Shane H. TravellerShane H. Traveller
  Chief Financial Officer 16  Exhibit 99.1 CERTIFICATION Pursuant
  to Section 906 of the Corporate Fraud Accountability Act of 2002 (18 U.S.C.
  Section 1350, as adopted), Shane H. Traveller, Chief Executive Officer of CLX
  Investment Company, Inc. (the "Company"), hereby certifies that, to the best
  of his knowledge:
  1. the Annual Report on Form 10-K of the Company for the fiscal year ended
  June 30, 2004 (the Report) fully complies with the requirements of Section
  13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or
  78o(d)); and
  2. the information contained in the Report fairly presents, in all material
  respects, the financial condition and results of operations of the Company.
  Dated: January 12, 2005/S/Shane H. TravellerShane H. Traveller
  CHIEF EXECUTIVE OFFICER 17  Exhibit 99.2 CERTIFICATION Pursuant
  to Section 906 of the Corporate Fraud Accountability Act of 2002 (18 U.S.C.
  Section 1350, as adopted), Shane H. Traveller, Chief Financial Officer of CLX
  Investment Company, Inc. (the "Company"), hereby certifies that, to the best
  of his knowledge:
  1. the Annual Report on Form 10-K of the Company for the fiscal year ended
  June 30, 2004 (the Report) fully complies with the requirements of Section
  13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or
  78o(d)); and
  2. the information contained in the Report fairly presents, in all material
  respects, the financial condition and results of operations of the Company.
  Dated: January 12, 2005/S/Shane H. TravellerShane H. Traveller 
  CHIEF FINANCIAL OFFICER 18      CLX INVESTMENT COMPANY, INC.
  (formerly CLX Energy, Inc.) FINANCIAL STATEMENTS
  September 30, 2004 and 2003      C O N T E N T S  Report of Independent
    Registered Public Accounting Firm ......................
    F 2Independent Auditors'
    Report ..................................................................
    F 3Balance Sheet .................................................................................................
    F 4 & F 5Statement of
    Operations...............................................................................
    F 6Statements of
    Stockholders' Equity (Deficit) ...................................................
    F 7Statements of Cash
    Flows..............................................................................
    F 8Notes to the Financial
    Statements................................................................
    F 9 - F 23    REPORT OF INDEPENDENT REGISTERED
  PUBLIC ACCOUNTING FIRM To the Board of
  Directors
  CLX Investment Company, Inc.
  (formerly CLX Energy, Inc.)
  Temecula, CA
  We have audited the accompanying balance sheet of CLX Investment Company, Inc.
  (formerly CLX Energy, Inc.) (the Company) as of September 30, 2004 and the
  related statement of operations, stockholders' equity (deficit) and cash flows
  for the years ended September 30, 2004. These financial statements are the
  responsibility of the Company's management. Our responsibility is to express
  an opinion on these financial statements based on our audit.
  We conducted our audit in accordance with standards of the Public Company
  Accounting Oversight Board (United States). Those standards require that we
  plan and perform the audit to obtain reasonable assurance about whether the
  financial statements are free of material misstatement. An audit includes
  examining, on a test basis, evidence supporting the amounts and disclosures in
  the financial statements. An audit also includes assessing the accounting
  principles used and significant estimates made by management, as well as
  evaluating the overall financial statement presentation. We believe that our
  audit provide a reasonable basis for our opinion.
  In our opinion, the financial statements referred to above present fairly, in
  all material respects, the financial position of the Company as of September
  30, 2004 and the results of its operations and its cash flows for the year
  ended September 30, 2004 in conformity with accounting principles generally
  accepted in the United States of America.
  The accompanying financial statements have been prepared assuming that the
  Company will continue as a going concern. As discussed in Note 6 to the
  financial statements, the Company has no significant operating results to
  date, which raises substantial doubt about its ability to continue as a going
  concern. Management's plans in regard to these matters are also described in
  Note 6. The financial statements do not include any adjustments that might
  result from the outcome of this uncertainty.
  HJ Associates & Consultants, LLP
  Salt Lake City, Utah
  January 6, 2005  F-2  EASTON AND BARSCH
Certified Public Accountants
8790 West Colfax Ave, Suite 106
Lakewood, Co. 80215
INDEPENDENT AUDITORS' REPORT To the Board of
Directors
CLX Investment Company, Inc.
Temecula, Ca 
We have audited the accompanying balance sheet of CLX Investment Company, Inc.
(formerly CLX Energy, Inc.) as of September 30, 2003 and the related statements
of operations, changes in stockholders' equity and cash flows for the year ended
September 30, 2003. These financial statements are the responsibility of the
Company's management. Our responsibility is to express an  opinion on these
financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted
in The United States of America. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of CLX Investment Company, Inc.
(formerly CLX Energy, Inc.) as of September 30, 2003 and the results of its
operations and its cash flows for each of the years in the two-year period ended
September 30, 2003, in conformity with accounting principles generally accepted
in the United States of America.
EASTON AND BARSCH
Certified Public Accountants
Lakewood, Colorado
December 22, 2003 F-3   CLX INVESTMENT
COMPANY
(formerly CLX Energy, Inc.) Balance Sheets ASSETS September2004
      
      2003CURRENT
      ASSETSCash
      $
      130,000
      $
      227,678Accounts Receivable
      
      -
      
      154,209Prepaid Expense
      
      -
      
      4,161Total Current Assets
      
      130,000
      
      386,048FIXED ASSETS, NET
      
      -
      
      215,854OTHER ASSETSDeposit - Oil and Gas Bond
      
      -
      
      28,651Total Other Assets
      
      -
      
      28,651TOTAL ASSETS
      $
      130,000
      $
      630,553
  The accompanying notes
are in integral part of these financial statements.
F-4   CLX INVESTMENT
COMPANY, INC.(formerly CLX Energy, Inc.)Balance Sheets (Continued) LIABILITIES AND
STOCKHOLDERS' EQUITY (DEFICIT)  September2004
    
    2003CURRENT LIABILITIESAccounts payable
    $
    12,500
    $
    247,533Accrued expenses
    
    5,000
    
    8,355Convertible debentures, net (Note 3)
    
    135,000
    
    -Current Portion of long-term debt
    
    -
    
    84,000Total Current Liabilities
    
    152,500
    
    339,888OTHER LIABILITIESLong-Term Debt
    
    -
    
    62,857Asset Retirement Obligation
    
    -
    
    18,130Total Other Liabilities
    
    -
    
    80,987Total Liabilities
    
    152,500
    
    420,875STOCKHOLDERS' EQUITY (DEFICIT)Preferred stock Series A; $0.01
      par value 20,000,000 shares
      Authorized, no shares outstanding
    
    -
    
    -Common stock; $0.01 par value;
      1,980,000,000 shares 
      Authorized 1,197,634 and 2,631,936 shares issued and 
      outstanding, respectively
    
    11,976
    
    26,319Additional paid-in capital
    
    653,222
    
    846,941Accumulated deficit
    
    (687,698)
    
    (663,582)Total Stockholders' Equity (Deficit)
    
    (22,500)
    
    209,678TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
    $
    130,000
    $
    630,553 The accompanying notes
are in integral part of these financial statements. F-5   CLX INVESTMENT COMPANY, INC. (formerly CLX Energy,
  Inc.) Statements of Operations
 For the Year
      Ended September 30,2004
      
      
      2003
      
      
      2002INVESTMENT REVENUE
      $
      -
      
      $
      -
      
      $
      -Total Revenue
      
      -
      
      
      -
      
      
      -EXPENSESProfessional fees
      
      17,500
      
      
      -
      
      
      -General
      and administrative
      
      -
      
      
      -
      
      
      -Depreciation
      
      -
      
      
      -
      
      
      -Total Expenses
      
      17,500
      
      
      -
      
      
      -NET
      INVESTMENT LOSS
      
      (17,500)
      
      
      -
      
      
      -OTHER
      INCOME (EXPENSE)Interest
      Expense
      
      5,000
      
      
      -
      
      
      -Unrealized gain on investment
      
      -
      
      
      -
      
      
      -Total Other Income (Expense)
      
      (5,000)
      
      
      -
      
      
      -LOSS FROM CONTINUING OPERATIONS
        
        BEFORE INCOME TAXES AND DISCONTINUED
        OPERATIONS
      
      (22,500)
      
      
      -
      
      
      -Income
      taxes
      
      -
      
      
      -
      
      
      -LOSS
      FROM CONTINUING OPERATIONS
      
      (22,500)
      
      
      -
      
      
      -INCOME (LOSS)
      FROM DISCONTINUED
      OPERATIONS NET OF ZERO TAX EFFECT
      Note 5
      
      (1,616)
      
      
      55,625
      
      
      (368,855)NET PROFIT (LOSS)
      $
      (24,116)
      
      $
      55,625
      
      $
      (368,855)BASIC
      LOSS PER SHARE:Continuing operations
      $
      (0.01)
      
      $
      0.00
      
      $
      0.00Discontinued operations
      
      (0.00)
      
      
      0.02
      
      
      (0.14)Basic loss per share
      $
      (0.01)
      
      $
      (0.02)
      
      $
      (0.14)WEIGHTED
      AVERAGE NUMBER OF 
      SHARES OUTSTANDING
      
      2,518,289
      
      
      2,631,936
      
      
      2,631,936
  The accompanying notes
are in integral part of these financial statements.  F-6  CLX INVESTMENT COMPANY, INC.(formerly CLX Energy, Inc.) Statements of Stockholders' Equity (Deficit)   Preferred Stock-
        Series
      Common Stock
      
      
      
      
      Deferred 
        ConsultingShares
      
      
      Amount
      
      Shares
      
      
      Amount
      
      
      Additional Paid-In Capital
      
      
      
      
      Accumulated
        DeficitSeptember 30, 2001
      
      -
      
      $
      -
      
      2,631,936
      
      $
      26,319
      
      $
      846,941
      
      $
      -
      
      $
      (350,352)Net loss
      for the period ended September 30, 2002
      
      -
      
      
      -
      
      -
      
      
      -
      
      
      -
      
      
      -
      
      
      (368,855)Balance,
      September 30, 2002
      
      -
      
      
      -
      
      2,631,936
      
      
      26,319
      
      
      846,941
      
      
      -
      
      
      (719,207)Net
      income for the period ended September 20, 2003
      
      -
      
      
      -
      
      -
      
      
      -
      
      
      -
      
      
      -
      
      
      55,625Balance
      September 30, 2003
      
      -
      
      
      -
      
      2,631,936
      
      
      26,319
      
      
      846,941
      
      
      -
      
      
      (663,582)October,
      2003 retirement of Treasury stock
      
      -
      
      
      -
      
      (750)
      
      
      (7)
      
      
      7
      
      
      -
      
      
      -September 2, 2004, sale of subsidiary for exchange of shares (See note 5)
      
      -
      
      
      -
      
      (1,433,552)
      
      
      (14,336)
      
      
      (193,726)
      
      
      -
      
      
      -Net
      profit for the year ended, September 30, 2004
      
      -
      
      
      -
      
      -
      
      
      -
      
      
      -
      
      
      -
      
      
      (24,116)Balance,
      September 30, 2004
      
      -
      
      $
      -
      
      1,197,634
      
      $
      11,976
      
      
      653,222
      
      $
      -
      
      
      (687,698) The accompanying notes are in
  integral part of these financial statements. F-7   CLX INVESTMENT COMPANY, INC.(formerly CLX Energy,
  Inc.) Statements of Cash Flows For the Year
      Ended September 30,2004
      
      2003
      
      2002CASH
      FLOWS FROM OPERATING ACTIVITIESNet Profit/(loss)
      $
      (24,116)
      
      $
      55,625
      $
      (368,855)Adjustments to reconcile net
        loss to net cash used in operating activities:Depreciation and amortization
      
      -
      
      
      59,491
      
      115,355Loss on impairment of assets
      
      -
      
      
      6,710
      
      24,873Loss on sale of fixed assets
      
      -
      
      
      (5,765)
      
      79,331Gain on extinguishments of debt
      
      -
      
      
      (30,379)
      
      7,673Cumulative effect of accounting change
      
      -
      
      
      10,620
      
      -Change in Assets/Liabilities
          from discontinued operations
      
      28,683
      
      
      -
      
      -Change
      in operating asset and liability accounts:(Increase) decrease in accounts
        receivable, net
      
      -
      
      
      13,829
      
      450,266(Increase) decrease in other
        assets
      
      -
      
      
      (81)
      
      (521)Increase (decrease) in accounts payable
      
      12,500
      
      
      (83,526)
      
      (442,631)Increase in accrued liabilities
      
      5,000
      
      
      -
      
      (7,500)Net Cash Used by Operating
          Activities
      
      22,067
      
      
      26,524
      
      (142,009)CASH
      FLOWS FROM INVESTING ACTIVITIESPurchase of property and equipment
      
      -
      
      
      (23,375)
      
      (34,420)Sale of property and equipment
      
      -
      
      
      7,160
      
      199,091Change in cash from
        discontinued operations
      
      (254,745)
      
      
      -
      
      -Additions to other Assets
      
      -
      
      
      (696)
      
      (941)Net Cash Used by Investing
          Activities
      
      (254,745)
      
      
      (16,911)
      
      163,730CASH
      FLOWS FROM FINANCING ACTIVITIESPayments on notes payable
      
      -
      
      
      (96,000)
      
      (245,000)Proceeds from convertible
        debentures
      
      135,000
      
      
      -
      
      -Net Cash Provided by
          Financing Activities
      
      135,000
      
      
      (96,000)
      
      (245,000)NET
      INCREASE (DECREASE) IN CASH
      
      (97,678)
      
      
      (86,387)
      
      (223,279)CASH AT
      BEGINNING OF PERIOD
      
      227,678
      
      
      314,065
      
      537,344CASH AT
      END OF PERIOD
      $
      130,000
      
      $
      227,678
      
      314,065CASH
      PAID FOR:Interest
      $
      -
      
      $
      23,685
      $
      23,685Income Tax
      $
      -
      
      $
      -
      $
      - The accompanying notes are in
  integral part of these financial statements. F-8
 CLX
  INVESTMENT COMPANY, INC.Notes to the Financial Statements
  September 30, 2004 and 2003 NOTE 1
  - NATURE OF ORGANIZATION This summary of
  significant accounting policies of CLX Investment Company, Inc. and
  Subsidiaries is presented to assist in understanding the Company's financial
  statements. The financial statements and notes are representations of the
  Company's management who are responsible for their integrity and objectivity.
  These accounting policies conform to accounting principles generally accepted
  in the United States of America and have been consistently applied in the
  preparation of the consolidated financial statements.
  a. Organization and Business Activities
  The Company was incorporated on December 12, 1977 under the laws of the State
  of Colorado as Calvin Exploration Company, Inc. to engage in any lawful
  activity as shall be appropriate under laws of the State of Colorado. The
  Company was organized to engage in on-shore oil and gas exploration,
  development and production in the continental United States. The Company's oil
  and gas activities concentrated primarily in Colorado, Kansas, Oklahoma and
  Wyoming. In 1993 the name of the Company was changed to CLX Energy, Inc. Up
  until this year the Company has engaged in only one industry segment and line
  of business, namely the acquisition, exploration, development and operation of
  oil and gas properties for its own account.
  On May 24, 2004 the Company appointed new management and moved its
  headquarters to Temecula, CA. At the same time the Company formed CLX Oil &
  GAS, LLC a wholly owned subsidiary of CLX Energy, Inc. and transferred all of
  the oil and gas operations of the Company (including the assets and
  liabilities pertaining to such operations) into CLX Oil & Gas, LLC. On
  September 1, 2004 the Company sold 100% of its interest in CLX Oil & Gas, LLC
  to certain shareholders of the Company in exchange for shares of CLX Energy,
  Inc. The shareholders returned 1,433,552 shares in exchange for 100% interest
  in CLX Oil & GAS, LLC. The Board of Directors approved the "Securities
  purchase and Sale Agreement" and also obtained a fairness opinion from Lehrer
  Financial and Economic Advisory Service indicating that the Securities
  Purchase and Sale Agreement is a fair and equitable exchange. The sale of the
  subsidiary has been accounted for as an asset sale transaction and all gas and
  oil operations are being reported as discontinued operations on the financial
  records. See Note 5. 
  On September 13, 2004, the Company filed with the Securities and Exchange
  Commission to become a Business Development Corporation as defined under the
  Investment Act of 1940. Additionally, on September 13, 2004, the Company
  registered an offering circular with the SEC for up to 500,000,000 shares of
  common stock under Regulation E of the Investment Act to raise capital and to
  make investments in eligible emerging or early-stage companies in various
  fields of business by arranging for and contributing capital and providing
  management assistance. In anticipation of the election to become a BDC, the
  Company on September 1, 2004 changed its name to CLX Investment Company, Inc.
  to properly reflect the nature of its business.F-9
  CLX INVESTMENT COMPANY, INC.Notes to the Financial Statements
  September 30, 2004 and 2003 NOTE 1 - NATURE OF
  ORGANIZATION (Continued) a. Organization and Business Activities (Continued)
  As a business development company ("BDC"), the Company is required to maintain
  at least 70% of its assets invested in "eligible portfolio companies", which
  are loosely defined as any domestic company which is not publicly traded or
  that has assets less than $4 million.
  b. Accounting Method
  The Company's financial statements are prepared using the accrual method of
  accounting. The Company has elected a September 30th year-end.
  c. Cash and Cash Equivalents
  For the purpose of the statement of cash flows, the Company considers all
  highly liquid investments purchased with a maturity of three months or less to
  be cash equivalents. 
  As of September 30, 2004 the company had $130,000 cash deposited in our
  checking account, $30,000 of which was in excess of FDIC insured limits.
  d. 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 disclosure of contingent assets and liabilities
  at the date of the financial statements and the reported amounts of revenues
  and expenses during the reporting period. Actual results could differ from the
  estimates.
  e. Basic Loss Per Share
  The computation of basic loss per share of common stock is based on the
  weighted average number of shares outstanding during the period of the
  financial statements. Fully diluted loss per share is not presented as any
  common stock equivalents are antidilutive in nature. Common stock equivalents
  consisting of convertible debt and preferred stock have not been included in
  the calculation of loss per share.2004
      
      2003
      
      
      2002Loss from operations
      $
      (22,500)
      
      $
      -
      
      $
      -Profit (Loss) from discontinued
      operations
      $
      (1,616)
      
      $
      55,625
      
      $
      (368,855)Loss per shareLoss from operations
      $
      (0.01)
      
      
      -
      
      
      -Loss from discontinued
      operations
      
      (0.00)
      
      
      0.02
      
      
      (0.14)Total loss per share
      $
      (0.01)
      
      $
      0.02
      
      $
      (0.14)Weighted Average Number of Shares
      Outstanding
      
      2,518,289
      
      
      2,631,936
      
      
      2,631,936F-10 CLX INVESTMENT COMPANY, INC.Notes to the Financial Statements
  September 30, 2003 and 2002 NOTE 1
  - NATURE OF ORGANIZATION (Continued) f. Income Taxes
  Deferred taxes are provided on a liability method whereby deferred tax assets
  are recognized for deductible temporary differences and operating loss and tax
  credit carryforwards and deferred tax assets are recognized for taxable
  temporary differences. Temporary differences are the differences between the
  reported amounts of assets and liabilities and their tax bases. Deferred tax
  assets are reduced by a valuation allowance when, in the opinion of
  management, it is more likely than not that some portion or all of the
  deferred tax assets will not be realized. Deferred tax assets and liabilities
  are adjusted for the effects of changes in tax laws and rates on the date of
  enactment.
  Net deferred tax assets consist of the following components as of September
  30, 2004 and 2003:2004
        
        2003Deferred tax
        assets:NOL Carryover
        
        $
        199,800
        $
        194,000Deferred tax
        liabilities:
        
        
        -
        
        -Valuation
        allowance
        
        
        (199,800)
        
        (194,000)Net deferred tax
        asset
        
        $
        -
        $
        -The income tax provision differs from the amount of income tax determined by
  applying the U.S. federal income tax rates of 39% to pretax income from
  continuing operations for the years ended September 30, 2004 and 2003 due to
  the following:2004
        
        2003Book income
        $
        (9,405)
        $
        (21,694)Other
        
        (312)
        
        -Valuation
        allowance
        
        4,296
        
        21,694Stock for services
        
        5,421
        
        -$
        -
        $
        -At September 30, 2004,
  the Company had net operating loss carryforwards of approximately $510,000
  that may be offset against future taxable income from the year 2004 through
  2024. No tax benefit has been reported in the September 30, 2004 financial
  statements since the potential tax benefit is offset by a valuation allowance
  of the same amount.
  Due to the change in ownership provisions of the Tax Reform Act of 1986, net
  operating loss carryforwards for Federal income tax reporting purposes are
  subject to annual limitations. Should a change in ownership occur, net
  operating loss carryforwards may be limited as to use in future years.F-11 CLX INVESTMENT COMPANY, INC.Notes to the Financial Statements
  September 30, 2004 and 2003 NOTE 1
  - NATURE OF ORGANIZATION (Continued) g. Recent Accounting
  Pronouncements
  During the year ended September 30, 2004, the Company adopted the following
  accounting pronouncements:
  SFAS No. 143 -- In August 2001, the FASB issued SFAS No. 143, Accounting for
  Asset Retirement Obligations, which established a uniform methodology for
  accounting for estimated reclamation and abandonment costs. The statement was
  effective for fiscal years beginning after June 15, 2002. The adoption of SFAS
  No. 143 did not have a material effect on the financial statements of the
  Company. 
  SFAS No. 145 -- On April 30, 2002, the FASB issued FASB Statement No. 145 (SFAS
  145), "Rescission of FASB Statements No. 4, 44, and 64, Amendment of FASB
  Statement No. 13, and Technical Corrections." SFAS 145 rescinds both FASB
  Statement No. 4 (SFAS 4), "Reporting Gains and Losses from Extinguishment of
  Debt," and the amendment to SFAS 4, FASB Statement No. 64 (SFAS 64),
  "Extinguishments of Debt Made to Satisfy Sinking-Fund Requirements." Through
  this rescission, SFAS 145 eliminates the requirement (in both SFAS 4 and SFAS
  64) that gains and losses from the extinguishment of debt be aggregated and,
  if material, classified as an extraordinary item, net of the related income
  tax effect. However, an entity is not prohibited from classifying such gains
  and losses as extraordinary items, so long as it meets the criteria in
  paragraph 20 of Accounting Principles Board Opinion No. 30, Reporting the
  Results of Operations Reporting the Effects of Disposal of a Segment of a
  Business, and Extraordinary, Unusual and Infrequently Occurring Events and
  Transactions. Further, SFAS 145 amends paragraph 14(a) of FASB Statement No.
  13, "Accounting for Leases", to eliminate an inconsistency between the
  accounting for sale-leaseback transactions and certain lease modifications
  that have economic effects that are similar to sale-leaseback transactions.
  The amendment requires that a lease modification (1) results in recognition of
  the gain or loss in the 9 financial statements, (2) is subject to FASB
  Statement No. 66, "Accounting for Sales of Real Estate," if the leased asset
  is real estate (including integral equipment), and (3) is subject (in its
  entirety) to the sale-leaseback rules of FASB Statement No. 98, "Accounting
  for Leases: Sale-Leaseback Transactions Involving Real Estate, Sales-Type
  Leases of Real Estate, Definition of the Lease Term, and Initial Direct Costs
  of Direct Financing Leases." Generally, FAS 145 is effective for transactions
  occurring after May 15, 2002. The adoption of SFAS 145 did not have a material
  effect on the financial statements of the Company.
  SFAS No. 146 -- In June 2002, the FASB issued SFAS No. 146, "Accounting for
  Exit or Disposal Activities" (SFAS 146). SFAS 146 addresses significant issues
  regarding the recognition, measurement, and reporting of costs that are
  associated with exit and disposal activities, including restructuring
  activities that are currently accounted for under EITF No. 94-3, "Liability
  Recognition for Certain Employee Termination Benefits and Other Costs to Exit
  an Activity (including Certain Costs Incurred in a Restructuring)." TheF-12 CLX INVESTMENT COMPANY, INC.Notes to the Financial Statements
  September 30, 2004 and 2003 NOTE 1
  - NATURE OF ORGANIZATION (Continued) g. Recent Accounting
  Pronouncements (Continued)
  scope of SFAS 146 also includes costs related to terminating a contract that
  is not a capital lease and termination benefits that employees who are
  involuntarily terminated receive under the terms of a one-time benefit
  arrangement that is not an ongoing benefit arrangement or an individual
  deferred-compensation contract. SFAS 146 will be effective for exit or
  disposal activities that are initiated after December 31, 2002 and early
  application is encouraged. The provisions of EITF No. 94-3 shall continue to
  apply for an exit activity initiated under an exit plan that met the criteria
  of EITF No. 94-3 prior to the adoption of SFAS 146. The effect on adoption of
  SFAS 146 will change on a prospective basis the timing of when the
  restructuring charges are recorded from a commitment date approach to when the
  liability is incurred. The adoption of SFAS 146 did not have a material effect
  on the financial statements of the Company.
  SFAS No. 147 -- In October 2002, the Financial Accounting Standards Board (FASB)
  issued Statement of Financial Accounting Standards (SFAS) No. 147,
  "Acquisitions of Certain Financial Institutions" which is effective for
  acquisitions on or after October 1, 2002. This statement provides interpretive
  guidance on the application of the purchase method to acquisitions of
  financial institutions. Except for transactions between two or more mutual
  enterprises, this Statement removes acquisitions of financial institutions
  from the scope of both SFAS 72 and Interpretation 9 and requires that those
  transactions be accounted for in accordance with SFAS No. 141, "Business
  Combinations" and No. 142, "Goodwill and Other Intangible Assets". The
  adoption of SFAS No. 147 did not have a material effect on the financial
  statements of the Company. 
  SFAS No. 148 -- In December 2002, the FASB issued SFAS No. 148, "Accounting
  for Stock Based Compensation-Transition and Disclosure-an amendment of FASB
  Statement No. 123" which is effective for financial statements issued for
  fiscal years ending after December 15, 2002. This Statement amends SFAS 123,
  Accounting for Stock-Based Compensation, to provide alternative methods of
  transition for a voluntary change to the fair value based method of accounting
  for stock-based employee compensation. In addition, this Statement amends the
  disclosure requirements of SFAS 123 to require prominent disclosures in both
  annual and interim financial statements about the method of accounting for
  stock-based compensation and the effect of the method used on reported
  results. The adoption of SFAS No. 148 did not have a material effect on the
  financial statements of the Company.
  SFAS No. 149 -- In April 2003, the FASB issued SFAS No. 149, "Amendment of
  Statement 133 on Derivative Instruments and Hedging Activities" which is
  effective for contracts entered into or modified after June 30, 2003 and for
  hedging relationships designated after June 30, 2003. This statement amends
  and clarifies financial accounting for derivative instruments embedded in
  other contracts (collectively referred to as derivatives) and hedging
  activities under SFAS 133. The adoption of SFAS No. 149 did not have a
  material effect on the financial statements of the Company.
  SFAS No. 150 -- In May 2003, the FASB issued SFAS No. 150, "Accounting for
  Certain Financial Instruments with Characteristics of both Liabilities and
  Equity" which is effective for financial instruments entered into or modified
  after May 31, 2003, and isF-13
  CLX INVESTMENT COMPANY, INC.Notes to the Financial Statements
  September 30, 2004 and 2003 NOTE 1 - NATURE OF
  ORGANIZATION (Continued) g. Recent Accounting
  Pronouncements (Continued)
  otherwise effective at the beginning of the first interim period beginning
  after June 15, 2003. This Statement establishes standards for how an issuer
  classifies and measures in its statement of financial position certain
  financial instruments with characteristics of both liabilities and equity. It
  requires that an issuer classify a financial instrument that is within its
  scope as a liability (or an asset in some circumstances) because that
  financial instrument embodies an obligation of the issuer. The adoption of
  SFAS No. 150 did not have a material effect on the financial statements of the
  Company.
  FASB Interpretation No. 45 -- "Guarantor's Accounting and Disclosure
  Requirements for Guarantees, Including Indirect Guarantees of Indebtedness of
  Others - an Interpretation of FASB Statements No. 5, 57 and 107". The initial
  recognition and initial measurement provisions of this Interpretation are to
  be applied prospectively to guarantees issued or modified after December 31,
  2002. The disclosure requirements in the Interpretation were effective for
  financial statements of interim or annual periods ending after December 15,
  2002. The adoption of FASB Interpretation No. 45 did not have a material
  effect on the financial statements of the Company.
  FASB Interpretation No. 46 -- In January 2003, the FASB issued FASB
  Interpretation No. 46 "Consolidation of Variable Interest Entities." FIN 46
  provides guidance on the identification of entities for which control is
  achieved through means other than through voting rights, variable interest
  entities, and how to determine when and which business enterprises should
  consolidate variable interest entities. This interpretation applies
  immediately to variable interest entities created after January 31, 2003. It
  applies in the first fiscal year or interim period beginning after June 15,
  2003, to variable interest entities in which an enterprise holds a variable
  interest that it acquired before February 1, 2003. The adoption of FIN 46 did
  not have a material impact on the Company's financial statements.
  During the year ended September 30, 2004, the Company adopted the following
  Emerging Issues Task Force Consensuses: EITF Issue No. 00-21 "Revenue
  Arrangements with Multiple Deliverables", EITF Issue No. 01 -8 " Determining
  Whether an Arrangement Contains a Lease", EITF Issue No. 02-3 "Issues Related
  to Accounting for Contracts Involved in Energy Trading and Risk Management
  Activities", EITF Issue No. 02-9 "Accounting by a Reseller for Certain
  Consideration Received from a Vendor", EITF Issue No. 02-17, "Recognition of
  Customer Relationship Intangible Assets Acquired in a Business Combination",
  EITF Issue No. 02-18 "Accounting for Subsequent Investments in an Investee
  after Suspension of Equity Method Loss Recognition", EITF Issue No. 03-1, "The
  Meaning of Other Than Temporary and its Application to Certain Instruments",
  EITF Issue No. 03-5, "Applicability of AICPA Statement of Position 9702,
  'Software Revenue Recognition' to Non-Software Deliverables in an Arrangement
  Containing More Than Incidental Software", EITF Issue No. 03-7, "Accounting
  for the Settlement of the Equity Settled Portion of a Convertible Debt
  Instrument That Permits or Requires the Conversion Spread to be Settled in
  Stock", EITF Issue No. 03-10, "Application of EITF Issue No. 02-16 by
  Resellers to Sales Incentives Offered to Consumers by Manufacturers.F-14
  CLX INVESTMENT COMPANY, INC.Notes to the Financial Statements
  September 30, 2004 and 2003 NOTE 1 - NATURE OF
  ORGANIZATION (Continued) g. Recent Accounting
  Pronouncements (continued)
  These newly issued accounting pronouncements had no effect on the Company's
  current financial statements and did not impact the Company.
  h. Fixed Assets
  Fixed assets are recorded at cost. Major additions and improvement are
  capitalized. The cost and related accumulated depreciation of equipment
  retired or sold are removed from the accounts and any differences between the
  undepreciated amount and the proceeds from the sale are recorded as gain or
  loss on sale of assets. 
  The Company had no fixed assets as of September 30, 2004.
  i. Revenue Recognition
  Prior to the discontinuation of operations on September 1, 2004 (See Note 7),
  the Company's revenue was created primarily from the sale of oil and gas. The
  Company recognized revenues the time of sale. Revenue was recorded at the
  completion of the sale and as the amounts were determined to be receivable.
  As a business development company, the Company will recognize revenues from
  several sources. Management fees will be recognized when earned, dividends
  from portfolio investments will be recognized when declared. Increases and
  decreases in the market value of the Company's portfolio investments will be
  recognized as unrealized gains or losses until the time of disposition. 
  See Note 2 for a discussion on the revenue recognition methods of the Company
  for 2003.
  j. Investment Valuation
  The Company's loans, net of participations and any unearned discount, are
  considered investments under the 1940 Act and are recorded at fair value.
  Since no ready market exists for these loans, the fair value is determined in
  good faith by the Board of Directors. In determining the fair value, the
  Company and Board of Directors consider factors such as the financial
  condition of the borrower, the adequacy of the collateral and individual
  credit risks.
  Investments in equity securities are recorded at fair value, represented as
  cost, plus or minus unrealized appreciation or depreciation, respectively. The
  carrying values of investments that have no readily-determinable market values
  are determined by theF-15
  CLX INVESTMENT COMPANY, INC.Notes to the Financial Statements
  September 30, 2004 and 2003 NOTE 1 - NATURE OF
  ORGANIZATION (Continued) j. Investment
  Valuation
  Board of Directors, based upon its analysis of the assets and revenues of the
  underlying investee companies. See not 2, below.
  Because of the inherent uncertainty of valuations, the Board of Directors'
  estimates of the values on the investments may differ significantly from the
  values that would have been used had a ready market for the investments
  existed and the differences could be material.
  k. Preferred Stock
  There are no outstanding shares of preferred stock. The Board of Directors has
  designated ten million (10,000,000) shares of series A. preferred with the
  following rights and preferences:
  The Series A Preferred shall, at the option of the holder, be convertible on a
  one for one share basis to common stock of the Company. The holders of shares
  of Series A Preferred shall not be entitled to vote such shares. In lieu of
  voting rights the holders of Series A Preferred, voting together as a class,
  shall be entitled to elect two members of the Board of Directors at each
  meeting. Also the Series A Preferred shall not be affected by any capital
  reorganization of the Company.l. Stock Options
  The Company has elected to account for grants of stock options under APB
  Option No. 25. No options were granted during the 2003 or 2002 fiscal years.
  Statement of Financial Accounting Standards No. 123, "Accounting for
  Stock-Based Compensation", (SFAS No. 123) requires compensation expense to be
  determined based on the fair value, as defined, of options at the grant date.
  Pro forma net earnings and pro forma earnings per share must be disclosed
  based on the additional compensation expense. For purposes of these pro forma
  disclosures, the estimated fair value of the options granted during the 2001
  fiscal year, using the Black-Scholes option granted during the 2001 fiscal
  year, using the Black-Scholes option pricing model, assumed no dividend yield,
  volatility of 77%, interest rate of 5% and expected life of 5 years. The
  estimated fair value of the options granted is amortized to expense over the
  options vesting period. Had compensation cost for the stock options granted
  been based on the estimated fair value of the grant dates, as prescribed by
  SFAS No. 123, The Company's pro forma net income (loss) and net income (loss)
  per share would have been as follows:2004
        
        2003
        
        2002Net income (loss)As reported
        $
        (24,116)
        $
        55,625
        $
        (368,855)Pro forma
        $
        (24,116)
        $
        48,225
        $
        (376,255)Net income (loss) per shareBasic:As reported
        $
        (0.01)
        $
        0.02
        $
        (0.14)Pro forma
        $
        (0.01)
        $
        0.02
        $
        (0.14)Diluted:As reported
        $
        (0.01)
        $
        0.02
        $
        (0.14)Pro forma
        $
        (0.01)
        $
        0.02
        $
        (0.14)NOTE 2 - INVESTMENTS
  At the fiscal year end the company had no portfolio company investments.
  Subsequent to September 30, 2004, the Company has acquired 40% interest in
  eStrategy Solutions, Inc. eSttategy is a Texas corporation specializing in the
  development and marketing of e-learning software solutions.
  As required by ASR 118, the investment committee of the company is required to
  assign a fair value to all investments. To comply with Section 2(a)(41) of the
  Investment Company Act and Rule 2a-4 under the Investment Company Act, it is
  incumbent upon the board of directors to satisfy themselves that all
  appropriate factors relevant to the value of securities for which market
  quotations are not readily available have been considered and to determine the
  method of arriving at the fair value of each such security. To the extent
  considered necessary, the board may appoint persons to assist them in the
  determination of such value, and to make the actual calculations pursuant to
  the board's direction. The board must also, consistent with this
  responsibility, continuously review the appropriateness of the method used in
  valuing each issue of security in the company's portfolio. The directors must
  recognize their responsibilities in this matter and whenever technical
  assistance is requested from individuals who are not directors, the findings
  of such intervals must be carefully reviewed by the directors in order to
  satisfy themselves that the resulting valuations are fair.
  No single standard for determining "fair value...in good faith" can be laid
  down, since fair value depends upon the circumstances of each individual case.
  As a general principle, the current "fair value" of an issue of securities
  being valued by the board of directors would appear to be the amount which the
  owner might reasonably expect to receive for them upon their current sale.
  Methods which are in accord with this principleF-16
  CLX INVESTMENT COMPANY, INC.Notes to the Financial Statements
  September 30, 2004 and 2003 NOTE 2 - INVESTMENTS
  (Continued) may, for example, be
  based on a multiple of earnings, or a discount from market of a similar freely
  traded security, or yield to maturity with respect to debt issues, or a
  combination of these and other methods. Some of the general factors which the
  directors should consider in determining a valuation method for an individual
  issue of securities include: 1) the fundamental analytical data relating to
  the investment, 2) the  nature and duration of restrictions on
  disposition of the securities, and 3) an evaluation of the forces which
  influence the market in which these securities are purchased and sold. Among
  the more specific factors which are to be considered are: type of security,
  financial statements, cost at date of purchase, size of holding, discount from
  market value of unrestricted securities of the same class at time of purchase,
  special reports prepared by analysis, information as to any transactions or
  offers with respect to the security, existence of merger proposals or tender
  offers affecting the securities, price and extent of public trading in similar
  securities of the issuer or comparable companies, and other relevant matters.
  
  The board has arrived at the following valuation method for its investments.
  Where there is not a readily available source for determining the market value
  of any investment, either because the investment is not publicly traded, or is
  thinly traded, and in absence of a recent appraisal, the value of the
  investment shall be based on the following criteria:
  1. Total amount of the Company's actual investment ("AI"). This amount shall
  include all loans, purchase price of securities, and fair value of securities
  given at the time of exchange.
  2. Total revenues for the preceding twelve months ("R").
  3. Earnings before interest, taxes and depreciation ("EBITD")
  4. Estimate of likely sale price of investment ("ESP")
  5. Net assets of investment ("NA")
  6. Likelihood of investment generating positive returns (going concern).
  The estimated value of each investment shall be determined as follows:Where no or limited revenues or earnings are present, then the value shall
  be the greater of the investment's a) net assets, b) estimated sales price, or
  c) total amount of actual investment.
    Where revenues and/or earnings are present, then the value shall be the
  greater of one time (1x) revenues or three times (3x) earnings, plus the
  greater of the net assets of the investment or the total amount of the actual
  investment.
    Under both scenarios, the value of the investment shall be adjusted down if
  there is a reasonable expectation that the Company will not be able to recoup
  the investment or if there is reasonable doubt about the investments ability
  to continue as a going concern.F-17
  CLX INVESTMENT COMPANY, INC.Notes to the Financial Statements
  September 30, 2004 and 2003 NOTE 3 - CONVERTIBLE
  DEBENTURES During the fiscal
  year ended September 30, 2004, the Company raised $135,000 of operating
  capital in the form of convertible debentures. The debentures have varying
  terms of one to three months, accrue interest at 8% per annum, and convert at
  a discount of 50% of the closing bid for the Company's common stock on the
  date of conversion. All convertible debentures are convertible at the option
  of the holder or the Company and automatically convert into common stock in
  the event of bankruptcy or liquidation. Of the $135,000 in convertible notes,
  one debenture totaling $125,000, was contributed by an individual to make a
  specific portfolio investment. A subsequent agreement could not be reached and
  the money was returned in October, 2004 with no interest paid. The $10,000 debenture
  was repaid in October, 2004 at the principal amount of $10,000 plus $5,000 in
  interest.  There was no beneficial conversion expense recognized based on
  the fact that debenture was not converted into stock. The Company negotiated a
  cash payment that was less than the value of the conversion to common stock
  would have been had they exercised that option.
  Subsequent to year- end the company issued two convertible debentures for a
  total of $150,000. The debentures have varying terms of one to three months,
  accrue interest at 8% per annum, and convert at a discount of 50% of the
  closing bid for the Company's common stock on the date of conversion. All
  convertible debentures are convertible at the option of the holder or the
  Company and automatically convert into common stock in the event of bankruptcy
  or liquidation.F-18
  CLX INVESTMENT COMPANY, INC.Notes to the Financial Statements
  September 30, 2004 and 2003 NOTE 4 - EQUITY
  TRANSACTIONS Stock Options - On March
  20, 2001 the Board of Directors granted an officer of the Company a
  non-qualified option to purchase 125,000 shares of stock of the Company at
  $.40 per share.
  During the 1994 fiscal year the Company adopted an employee incentive stock
  option plan that provides for the issuance to employees, including officers,
  of up to 10 percent of the issued and outstanding shares of common stock in
  accordance with the plan. Under this plan, options are exercisable at market
  price of the Company's common stock on the date of grant, have a term of ten
  years and are earned over a five-year period. Options on 125,000 shares were
  granted on April 26, 1999 and remain outstanding at September 30, 2003.
  During the 1994 fiscal year the Company adopted a director stock option plan
  which provides for the issuance to members of the board, who are not full time
  employees of the Company, options to purchase up to 31,250 shares of the
  Company's common stock in accordance with the plan. Under this plan, options
  are exercisable at market price of the Company's common stock on the date of
  grant, have a term of ten years and are earned over a five-year period. No
  options are outstanding under this plan. 
  A summary of certain stock options information follows:September 30,
        2004
        September 30,
        2003Shares
        
        Weighted Average Exercise Price
        
        
        Shares
        
        Weighted Average Exercise PriceOutstanding at beginning of period
        
        193,000
        $
        0.10
        
        
        125,000
        $
        0.40Granted
        
        -
        `
        -
        
        
        193,000
        $
        0.10Exercised
        
        -
        
        -
        
        
        -
        $
        -Forfeited
        
        -
        
        -
        
        
        125,000
        $
        0.40Expired
        
        -
        
        -
        
        
        -
        
        -Outstanding at end of Period
        
        193,000
        
        0.10
        
        
        193,00
        $
        0.10Weighted average fair value of options granted during the year
        
        -
        $
        -
        
        
        193,000
        $
        0.10A summary of the status
  of the options granted under the various agreements at September 30, 2004, are
  presented in the table below:Outstanding
        options
        Exercisable
        OptionsNumber
        of Options
        
        Weighted average price
        
        Life
        
        Number
        of Options
        
        Weighted average price
        
        Remaining LifeSeptember 30, 2004:Incentive stock options
        
        193,000
        $
        .10
        
        10 years
        
        193,000
        $
        .10
        
        5 yearsNon-qualified options
        
        193,000
        $
        .10
        
        10 years
        
        193,000
        $
        .10
        
        5 yearsNo stock options were
  exercised during the 2004 or 2003 fiscal years.
  Other Equity Transactions:
  In October 2003, the
  Company retired 750 shares of treasury stock.
  On September 2, 2004, the Company received back 1,433,552 shares of the
  company from certain stockholders in exchange for the Oil and Gas subsidiary.
  See Note 7. These shares were then cancelled leaving a total shares
  outstanding of 1,197,634.
  Subsequent to the September 30, 2004, the Company issued 600,000 shares of
  common stock for the conversion of $6,000 of convertible debentures and
  accrued interest.F-19
  CLX INVESTMENT COMPANY, INC.Notes to the Financial Statements
  September 30, 2004 and 2003 NOTE 5 - DISCONTINUED
  OPERATIONS Effective September 1,
  2004, the Company spun off the oil and gas portion of its business. The
  financial statements have been retroactively restated to reflect this event.
  No tax benefit has been attributed to the discontinued operations.
  The following is a summary of the transaction and the effect to the
  outstanding shares of the Company:Shares submitted
        by stockholders to be cancelled
        
        
        1,592,836Shares reissued to
        same stockholders
        
        
        159,284Net shares
        exchanged
        
        
        1,433,552Shares outstanding
        6/30/04
        
        2,631,186Less Shares
        exchanged
        
        1,433,552Shares outstanding
        9/30/04
        
        1,197,634CLX Energy, Inc.
        net Equity 6/30/04
        
        
        $192,798Increase in Net
        Equity from 7/1/04 to 8/31/04
        
        
        15,264Total equity of
        CLX Energy, Inc. at time of exchange
        
        
        $208,062Equity Value of
        the company applied to:Common Stock
        
        $14,336Additional Paid in
        Capital
        
        193,726Total applied
        
        $208,062F-20
  CLX
    INVESTMENT COMPANY, INC.Notes to the Financial Statements
    September 30, 2004 and 2003 NOTE 5 - DISCONTINUED
  OPERATIONS (Continued) The following is a
  summary of the profit and loss from discontinued operations resulting from the
  elimination of all operations:For the Year Ended September 30,2004
        
        2003
        
        2002OIL &
        GAS REVENUE
        $
        382,637
        $
        423,791
        $
        379,626Total Revenue
        
        382,637
        
        423,791
        
        379,626EXPENSESLease
        operating expenses
        
        105,933
        
        151,825
        
        350,804General and administrative
        
        234,064
        
        171,066
        
        191,001Depreciation
        
        27,146
        
        66,201
        
        194,686Total Expenses
        
        367,143
        
        389,092
        
        736,491OPERATING INCOME (LOSS)
        
        15,494
        
        34,699
        
        (356,865)OTHER
        INCOME (EXPENSE)Interest expense
        
        (20,858)
        
        (4,598)
        
        (14,842)Gain
        on sale of assets
        
        3,748
        
        36,144
        
        (7,673)Total
        Other Income (Expense)
        
        (17,110)
        
        31,546
        
        (22,515)INCOME (LOSS) BEFORE TAXES
        
        (1,616)
        
        66,245
        
        (379,380)Income tax (expense) benefit
        
        -
        
        -
        
        10,525NET
        INCOME (LOSS)
        BEFORE ACCOUNTING CHANGE
        
        (1,616)
        
        66,245
        
        (368,855)CUMULATIVE EFFECT OF
        ACCOUNTING CHANGE
        
        -
        
        (10,620)
        
        -NET
        PROFIT (LOSS)
        $
        (1,616)
        $
        55,625
        $
        (368,855)F-21
  CLX INVESTMENT
    COMPANY, INC.Notes to the Financial Statements
    September 30, 2004 and 2003 NOTE 6 - GOING CONCERN The Company's
  financial statements are prepared using accounting principles generally
  accepted in the United States of America applicable to a going concern, which
  contemplates the relation of assets and liquidation of liabilities in the
  normal course of business. The Company has generated a loss for the year ended
  September 30, 2002 and profits for the ensuing year ended of September 30,
  2003 and 2004.
  On September 13, 2004, the Company elected to report as a business development
  company under the Investment Company Act of 1940. As a Business Development
  Company, the Company can sell up to $5,000,000 in common stock every twelve
  months under an exemption from registration. Also on September 30, 2004, the
  Company filed a notification with the SEC that it intends to sell all $5
  million of this Regulation E exemption. From September 30, 2004 through
  December 31, 2004, the Company raised $150,000 in funds under convertible
  debentures. These debentures can be converted into free-trading shares of
  common stock under Regulation E. The Company also has a portfolio investment
  that has a positive cash flow. In the event such funds are unavailable in the
  future or insufficient, the Company may need to alter its operation or cease
  to function as a going concern.
  The ability of the Company to continue as a going concern is dependant upon
  its ability to successfully seek out and consummate investments, or to secure
  other sources of financing such that it may commence profitable operations.
  The accompanying financial statements do not include any adjustments that
  might be necessary if the Company is unable to continue as a going concern. NOTE 7- SUBSEQUENT EVENTS Stock Issuances
  
  Subsequent to the year ended September 30, 2004, the Company issued 600,000
  shares of common stock for the conversion of $6,000 of convertible Debenture
  debt.Investments
Company
      
      Description
      of Business
      
      Percent
      Ownership
      
      Cost
      
      Fair 
      Value
      
      AffiliationStrategy
      Solutions, Inc.
      
      e-learning software
      
      40%
      
      $60,000
      
      not
      valued (1)
      
      no

(1) The acquisition was made subsequent
  to September 30, 2004 and is therefore omitted from the accompanying financial
  statements and no value is assigned. 
  See also Note 2 for further explanation on the Company's methods of
  determining fair values.
  F-22
  CLX INVESTMENT COMPANY, INC.Notes to the Financial Statements
  September 30, 2004 and 2003 NOTE 8 - COMMITMENTS AND CONTINGENCIES The Company signed a
  management agreement with Javelin Advisory Group for the next thirty six
  months to provide staff and facilities for the amount of $12,500 per month.
  The company also has a Consulting agreement with an independent contractor for
  another $2,500 per month. This agreement is with a related party.Management Fee
        2005 - 2007
        $
        450,000Consulting
        Agreement 2005
        30,000$
        480,000F-23