**UNITED
      STATES**


**SECURITIES
      AND EXCHANGE COMMISSION**


**Washington,
      D.C. 20549**





**FORM
      10-QSB**


(Mark
      One)


x
            **QUARTERLY
                REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
                1934**





For
      the
      quarterly period ended  March
      31,
      2008


**OR**




o
            **TRANSITION
                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
                ACT OF
                1934**




For
      the
      transition period from_______________ to


Commission
      file number  000-50739




ENERGENX,
                INC.(Exact
                name of small business issuer as
                specified in its charter)




NEVADA
              
              20-1044677(State
                  or other jurisdiction of
                  incorporation
              
              (I.R.S.
                  Employeror
                  organization)
              
              Identification
                  No.)


200
                  E. Commerce Loop, Post Falls, Idaho
                  83854(Address
                  of principal executive
                  offices)




(208)
                665-5553(Issuer’s
                telephone
                number)




(Former
                  name, former address and former fiscal
                  year, if changed since last
                  report)




Check
      mark whether the issuer (1) has filed all reports required to be filed by
      Section 13 or 15(d) of the Exchange Act during the past 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 T NO
o




Indicate
      by check mark whether the registrant is a shell company (as defined in Rule
      12b-2 of the Exchange Act). YES
o NO
T





At
      May
      12, 2008, the issuer had outstanding the indicated number of shares of common
      stock: 29,697,276.





Transitional
      Small Business Disclosure Format  YES
o NO
T









**ENERGENX,
      INC.**


**INDEX**





**PART
      I. FINANCIAL INFORMATION**







**Item
                  1.**
              **Financial
                Statements.**PART
                  I.
              
              
              FINANCIAL
                  INFORMATIONItem
                  1.
              
              
              Financial
                  StatementsBalance
                  Sheets as of March 31, 2008 (unaudited) and
                  December 31, 2007 (audited)
              
              
              1Statements
                  of Operations (unaudited) for the three months
                  ended March 31, 2008 and 2007
              
              
              2Statements
                  of Cash Flows (unaudited) for the three months
                  ended March 31, 2008 and 2007
              
              
              3Condensed
                  Notes to Financial Statements
              
              
              4Item
                  2.
              
              
              Management’s
                  Discussion and Analysis or Plan of Operations
              
              
              10Item
                  3.
              
              
              Controls
                  and Procedures
              
              
              13PART
                  II.
              
              
              OTHER
                  INFORMATION
              
              
              14Item
                  6.
              
              
              Exhibits
              
              
              14









**ENERGENX, INC.****(A Development Stage Company)****BALANCE
              SHEET**





March
                  31,
              
              December
                  31,2008
              
              2007(unaudited)**ASSETS****CURRENT
                  ASSETS**Cash
              
              $
              433,625
              
              $
              532,545Notes
                  receivable
              
              
              1,513
              
              
              1,509Prepaid
                  expense
              
              
              335
              
              
              7,614Total
                  Current Assets
              
              
              435,473
              
              
              541,668**PROPERTY
                  AND EQUIPMENT, NET**
              
              
              21,318
              
              
              18,130**OTHER
                  ASSETS**License,
                  net of accumulated amortization
              
              
              52,600
              
              
              54,400Patents,
                  net of accumulated amortization
              
              
              36,425
              
              
              38,404Total
                  Other Assets
              
              
              89,025
              
              
              92,804**TOTAL
                  ASSETS**
              
              $
              545,816
              
              $
              652,602**LIABILITIES
                  AND STOCKHOLDERS' EQUITY (DEFICIT)****CURRENT
                  LIABILITIES**Accounts
                  payable
              
              $
              5,612
              
              $
              8,101Accounts
                  payable - related party
              
              
              
              
              
              1,040Interest
                  payable
              
              
              
              
              
              -Interest
                  payable-related party
              
              
              -
              
              
              -Deposit
                  on license
              
              
              5,000
              
              
              5,000Deposit
                  on common stock
              
              
              -
              
              
              -Payroll
                  taxes payable
              
              
              2,623
              
              
              4,024Notes
                  payable
              
              
              -
              
              
              -Accrued
                  payroll
              
              
              -
              
              
              -Unclaimed
                  property
              
              
              6,599
              
              
              6,599Total
                  Current Liabilities
              
              
              19,834
              
              
              24,764**COMMITMENTS
                  AND CONTINGENCIES**
              
              
              -
              
              
              -**STOCKHOLDERS'
                  EQUITY (DEFICIT)**Preferred
                  stock, $.001 par value; 5,000,000 shares authorized,no
                  shares issued or outstanding
              
              
              -
              
              
              -Common
                  stock, $.001 par value; 50,000,000 shares authorized,29,697,276
                  and 29,697,276 shares issued and oustanding,respectively
              
              
              29,697
              
              
              29,697Additional
                  paid-in capital
              
              
              3,650,717
              
              
              3,650,717Deficit
                  accumulated during development stage
              
              
              (3,154,432
              )
              
              (3,052,576
              )Total
                  Stockholders' Equity (Deficit)
              
              
              525,982
              
              
              627,838**TOTAL
                  LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)**
              
              $
              545,816
              
              $
              652,602




The
      accompanying notes are an integral part of these interim financial
      statements.




1


**ENERGENX,
                  INC.****(A
                  Development Stage Company)****STATEMENT
                  OF OPERATIONS**
  FromSeptember
                  29,Three
                  Months
              
              Three
                  Months
              
              1999Ended
              
              Ended
              
              (Inception)
                  toMarch
                  31,
              
              March
                  31,
              
              March
                  312008
              
              2007
              
              2008(unaudited)
              
              (unaudited)
              
              (unaudited)**REVENUES**
              
              $
              7,075
              
              
              -
              
              $
              25,060**COST
                  OF GOODS SOLD**
              
              
              6,680
              
              
              -
              
              
              8,363**GROSS
                  PROFIT**
              
              
              395
              
              
              -
              
              
              16,697**OPERATING
                  EXPENSES**Amortization
                  and depreciation
              
              
              5,723
              
              
              5,890
              
              
              141,557Board
                  of directors fees
              
              
              -
              
              
              -
              
              
              388,000Consulting
              
              
              -
              
              
              -
              
              
              316,029General
                  and administrative
              
              
              10,023
              
              
              15,839
              
              
              276,593Legal
                  and accounting
              
              
              12,675
              
              
              12,725
              
              
              227,428License
                  and fees
              
              
              -
              
              
              15
              
              
              107,539Marketing
              
              
              -
              
              
              -
              
              
              19,464Rent
              
              
              7,200
              
              
              7,200
              
              
              224,068Research
                  and development
              
              
              42,109
              
              
              42,589
              
              
              685,824Salaries
                  and benefits
              
              
              24,877
              
              
              27,139
              
              
              755,236Travel
              
              
              -
              
              
              -
              
              
              1,580**TOTAL
                  OPERATING EXPENSES**
              
              
              102,607
              
              
              111,397
              
              
              3,143,318**LOSS
                  FROM OPERATIONS**
              
              
              (102,212
              )
              
              (111,397
              )
              
              (3,126,621
              )**OTHER
                  INCOME (EXPENSES)**Interest
                  income
              
              
              356
              
              
              335
              
              
              2,624Other
                  Income
              
              
              -
              
              
              -
              
              
              853Interest
                  expense
              
              
              -
              
              
              -
              
              
              (34,877
              )Loss
                  on disposal of asset
              
              
              -
              
              
              (21
              )
              
              (1,730
              )Gain
                  on forgiveness of debt
              
              
              -
              
              
              1,000
              
              
              5,319**TOTAL
                  OTHER INCOME (EXPENSES)**
              
              
              356
              
              
              1,314
              
              
              (27,811
              )**LOSS
                  BEFORE TAXES**
              
              
              (101,856
              )
              
              (110,083
              )
              
              (3,154,432
              )**INCOME
                  TAXES**
              
              
              -
              
              
              
              
              
              -**NET
                  LOSS**
              
              $
              (101,856
              )
              
              (110,083
              )
              $
              (3,154,432
              )NET
                  LOSS PER COMMON SHARE,BASIC
                  AND DILUTED
              
              $
              (nil
              )
              
              (nil
              )WEIGHTED
                  AVERAGE NUMBER OFCOMMON
                  STOCK SHARESOUTSTANDING,
                  BASIC AND DILUTED
              
              
              29,697,276
              
              
              29,697,276
  The
      accompanying notes are an integral part of these interim financial
      statements.




2


**ENERGENX,
                  INC.****(A
                  Development Stage Company)****STATEMENTS
                  OF CASH FLOWS**
  FromSeptember
                  29,Three
                  Months
              
              Three
                  Monthes
              
              1999Ended
              
              Ended
              
              (Inception)
                  toMarch
                  31,
              
              March
                  31,
              
              31-Mar2008
              
              2007
              
              2008(unaudited)
              
              (unaudited)
              
              (unaudited)**CASH
                  FLOWS FROM OPERATING ACTIVITIES:**Net
                  loss
              
              $
              (101,856
              )
              $
              (110,083
              )
              $
              (3,154,432
              )Stock
                  and options issued for directors fees
              
              
              
              
              
              -
              
              
              378,000Stock
                  issued for consulting fees
              
              
              
              
              
              -
              
              
              110,000Stock
                  issued for services
              
              
              
              
              
              -
              
              
              104,566Stock
                  issued for licensing fees
              
              
              
              
              
              -
              
              
              100,000Stock
                  issued for payment of interest
              
              
              
              
              
              -
              
              
              8,300Gain
                  on debt forgiveness
              
              
              
              
              
              (1,000
              )
              
              (4,319
              )Loss
                  on disposal of asset
              
              
              
              
              
              21
              
              
              1,827Amortization
                  and depreciation
              
              
              5,723
              
              
              5,890
              
              
              141,561Adjustments
                  to reconcile net (loss) to net cashprovided
                  (used) by operating activities:Decrease
                  (increase) in note receivable
              
              
              (4
              )
              
              (220
              )
              
              (1,513
              )Decrease
                  (increase) in prepaids
              
              
              7,279
              
              
              7,279
              
              
              (335
              )Decrease
                  in deposits
              
              
              
              
              
              -
              
              
              5,000Increase
                  (decrease) in accounts payable
              
              
              (3,529
              )
              
              (5,624
              )
              
              9,925Increase
                  (decrease) in accrued payroll
              
              
              
              
              
              (35,000
              )
              
              -Increase
                  (decrease) in payroll taxes payable
              
              
              (1,401
              )
              
              (23,648
              )
              
              2,624Increase
                  (decrease) in inventory
              
              
              
              
              
              -
              
              
              -Increase
                  (decrease) in unclaimed property
              
              
              
              
              
              -
              
              
              6,599Net
                  cash used by operating activities
              
              
              (93,788
              )
              
              (162,385
              )
              
              (2,292,197
              )**CASH
                  FLOWS FROM INVESTING ACTIVITIES:**Cash
                  paid for patent
              
              
              
              
              
              
              
              
              (79,151
              )Cash
                  paid for equipment purchased
              
              
              
              
              
              (5,478
              )
              
              (51,116
              )Cash
                  paid for leasehold improvements
              
              
              (5,132
              )
              
              
              
              
              (11,865
              )Net
                  cash used by investing activities
              
              
              (5,132
              )
              
              (5,478
              )
              
              (142,132
              )**CASH
                  FLOWS FROM FINANCING ACTIVITIES:**Cash
                  paid for stock offering costs
              
              
              
              
              
              -
              
              
              (62,130
              )Merger
                  and recapitalization costs
              
              
              
              
              
              -
              
              
              (4,300
              )Proceeds
                  from issuance of convertible debt
              
              
              
              
              
              -
              
              
              60,010Proceeds
                  from notes payable
              
              
              
              
              
              -
              
              
              199,610Payment
                  of notes payable
              
              
              
              
              
              -
              
              
              (111,542
              )Increase
                  in deposit on common stock
              
              
              
              
              
              -
              
              
              600,000Proceeds
                  from sale of common stock
              
              
              
              
              
              500,000
              
              
              2,186,306Net
                  cash provided by financing activities
              
              
              -
              
              
              500,000
              
              
              2,867,954Change
                  in cash
              
              
              (98,920
              )
              
              332,137
              
              
              433,625**Cash,
                  beginning of period**
              
              
              532,545
              
              
              169,451
              
              
              -**Cash,
                  end of period**
              
              $
              433,625
              
              $
              501,588
              
              $
              433,625-**SUPPLEMENTAL
                  CASH FLOW INFORMATION:**Interest
                  paid
              
              $
              
              
              $
              -
              
              $Income
                  taxes paid
              
              $
              -
              
              $
              -
              
              $**NON-CASH
                  INVESTING AND FINANCING ACTIVITIES:**Common
                  stock issued for equipment
              
              $
              -
              
              $
              -
              
              $
              3,612Common
                  stock issued for debt
              
              $
              -
              
              $
              -
              
              $
              198,060Common
                  stock issued for technology license
              
              $
              -
              
              $
              -
              
              $
              58,000




The
      accompanying notes are an integral part of these
      interim financial statements.




3




**ENERGENX,
        INC.**
 **(A
        Development Stage Company)**
 **CONDENSED
        NOTES TO INTERIM FINANCIAL STATEMENTS**
 **MARCH
        31, 2008**







**NOTE
      1 - BASIS OF PRESENTATION**





The
      foregoing unaudited interim financial statements have been prepared in
      accordance with generally accepted accounting principles for interim financial
      information and with the instructions to Form 10-QSB and Regulation S-B as
      promulgated by the Securities and Exchange Commission (“SEC”).
 Accordingly, these financial statements do not include all of the
      disclosures required by generally accepted accounting principles in the United
      States of America for complete financial statements.  These unaudited
      interim financial statements should be read in conjunction with the Company’s
      audited financial statements for the year ended December 31, 2007.  In the
      opinion of management, the unaudited interim financial statements furnished
      herein includes all adjustments, all of which are of a normal recurring nature,
      necessary for a fair statement of the results for the interim period presented.
       Operating results for the three month period ended March 31, 2008 are not
      necessarily indicative of the results that may be expected for the year ending
      December 31, 2008.





The
      preparation of financial statements in accordance with generally accepted
      accounting principles in the United States of America requires the use of
      estimates and assumptions that affect the reported amounts of assets and
      liabilities, disclosure of contingent assets and liabilities known to exist
      as
      of the date the financial statements are published, and the reported amounts
      of
      revenues and expenses during the reporting period.  Uncertainties with
      respect to such estimates and assumptions are inherent in the preparation of
      the
      Company’s financial statements; accordingly, it is possible that the actual
      results could differ from these estimates and assumptions and could have a
      material effect on the reported amounts of the Company’s financial position and
      results of operations.





**NOTE
      2 - SIGNIFICANT ACCOUNTING POLICIES**





This
      summary of significant accounting policies of Energenx, Inc. is presented to
      assist in understanding the Company’s financial statements. The financial
      statements and notes are representations of the Company’s management, which is
      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 financial
      statements.





Accounting
      Method


The
      Company uses the accrual basis of accounting in accordance with accounting
      principles generally accepted in the United States of America.





Accounting
      Pronouncements


In
      March
      2008, the Financial Accounting Standards Board issued Statement of Financial
      Accounting Standards No. 161, “Disclosures about Derivative Instruments and
      Hedging Activities—an amendment of FASB Statement No. 133” (SFAS No. 161). This
      statement changes the disclosure requirements for derivative instruments and
      hedging activities. Entities are required to provide enhanced disclosures about
      (a) how and why an entity uses derivative instruments, (b) how derivative
      instruments and related hedged items are accounted for under Statement 133
      and
      its related interpretations, and (c) how derivative instruments and related
      hedged items affect an entity’s financial position, financial performance, and
      cash flows. This Statement is intended to enhance the current disclosure
      framework in Statement 133. The Statement requires that objectives for using
      derivative instruments be disclosed in terms of underlying risk and accounting
      designation. This disclosure better conveys the purpose of derivative use in
      terms of the risks that the entity is intending to manage. Disclosing the fair
      values of derivative instruments and their gains and losses in a tabular format
      should provide a more complete picture of the location in an entity’s financial
      statements of both the derivative positions existing at period end and the
      effect of using derivatives during the reporting period. Disclosing information
      about credit-risk-related contingent features should provide information on
      the
      potential effect on an entity’s liquidity from using derivatives. Finally, this
      Statement requires cross-referencing within the footnotes, which should help
      users of financial statements locate important information about derivative
      instruments.




4


**ENERGENX,
          INC.**
 **(A
          Development Stage Company)**
 **CONDENSED
          NOTES TO INTERIM FINANCIAL STATEMENTS**
 **MARCH
          31, 2008**


Concentration
      of Credit Risk


The
      Company maintains its cash in one commercial account at a major financial
      institution. Although the financial institution is considered creditworthy
      and
      has not experienced any losses on its deposits, at March 31, 2008 and 2007
      the
      Company’s cash balance exceeded Federal Deposit Insurance Corporation (FDIC)
      limits by $333,625 and $432,545, respectively.





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 those
      estimates.





Fair
      Value of Financial Instruments


The
      Company's financial instruments as defined by Statement of Financial Accounting
      Standards No. 107, "Disclosures about Fair Value of Financial Instruments,"
      include cash, notes receivable, accounts payable, accrued expenses and
      short-term borrowings. All instruments are accounted for on a historical cost
      basis, which, due to the short maturity of these financial instruments,
      approximates fair value at March 31, 2008 and December 31, 2007.





Going
      Concern


As
      shown
      in the accompanying financial statements, the Company has incurred an
      accumulated deficit of $3,154,432 through March 31, 2008 and has a history
      of
      recurring losses. The Company is currently putting technology in place which
      will, if successful, mitigate these factors which raise substantial doubt about
      the Company’s ability to continue as a going concern. The financial statements
      do not include any adjustments relating to the recoverability and classification
      of recorded assets, or the amounts and classification of liabilities that might
      be necessary in the event the Company cannot continue in existence. Management
      has developed technology that if proven will result in a marketable product.
      Management intends to seek additional capital from new equity securities
      offerings that will provide funds needed to increase liquidity, fund internal
      growth and fully implement its business plan.





Management
      believes $500,000 is needed to finance the plan of operation for at least the
      next twelve months. The timing and amount of capital requirements will depend
      on
      a number of factors, including demand for products and services and the
      availability of opportunities for international expansion through affiliations
      and other business relationships.




5




**ENERGENX,
          INC.**
 **(A
          Development Stage Company)**
 **CONDENSED
          NOTES TO INTERIM FINANCIAL STATEMENTS**
 **MARCH
          31, 2008**


Research
      and Development


Research
      and development expenses are charged to operations as incurred. The cost of
      intellectual property purchased from others that is immediately marketable
      or
      that has an alternative future use is capitalized and amortized as intangible
      assets. Capitalized costs are amortized using the straight-line method over
      the
      estimated economic life, typically 10 years, of the related asset. The Company
      annually reviews its capitalized patent costs to assess recoverability based
      on
      the projected undiscounted cash flows from operations. Impairments are
      recognized in operating results when a permanent diminution in value occurs.
       Research and development expenses for the period ended March 31, 2008 and
      2007 were $42,109 and $42,589, respectively. Salaries for those employees
      directly involved in research and development are included in research and
      development expense.





Revenue
      Recognition


Revenue
      is recorded when products are shipped and the Company has no significant
      remaining obligations, persuasive evidence of an arrangement exists, the price
      to the buyer is fixed or determinable, and collectability is reasonably assured
      or probable. Product sales revenue is recognized when title and risk of loss
      have passed to the buyer. According to the Company’s terms of sale, title and
      risk of loss pass to the customer upon delivery to the carrier.





Royalties
      will be recognized as revenue when the amounts are contractually earned, fixed
      and determinable, and there is substantial probability of
      collection.





**NOTE
      3 - PROPERTY AND EQUIPMENT**





Property
      and equipment are recorded at cost. Major additions and improvements are
      capitalized. Minor replacements, maintenance and repairs that do not increase
      the useful lives of the assets are expensed as incurred. Depreciation of
      property and equipment is calculated using the straight-line method over the
      expected useful lives of the assets of 5 to 7 years. Depreciation expense for
      the periods ended March 31, 2008 and December 31, 2007 was $1,262 and $7,501,
      respectively.





Following
      is a summary of property, equipment, leasehold improvement, and accumulated
      depreciation:




March
                31,
            
            
            December
                31,2008
            
            
            2007Machinery
            
            $
            35,379
            
            $
            $
                35,379Office
                Furniture and Equipment
            
            
            18,963
            
            
            18,963Leasehold
                Improvements
            
            
            10,423
            
            
            5,29264,766
            
            
            59,634Less
                Accumulated Depreciation
            
            
            (43,448
            )
            
            (41,504
            )Property
                and Equipment - Net
            
            $
            21,318
            
            $
            $
                18,130




6


**ENERGENX,
            INC.**
 **(A
            Development Stage Company)**
 **CONDENSED
            NOTES TO INTERIM FINANCIAL STATEMENTS**
 **MARCH
            31, 2008**


**NOTE
      4 - PATENTS**





Costs
      relating to the development and approval of patents, other than research and
      development costs which are expensed, are capitalized and amortized using the
      straight-line method over ten years. The Company’s patents relate to the
      creation of an EMF permanent electromagnetic motor generator.





The
      following is a summary of the costs of patents and patents pending, and
      amortization expense:





Cost
            
            Accumulated
                Amortization
            
            Net
                AmountBalance,
                December 31, 2004
            
            $
            68500
            
            $
            19,076
            
            $
            49,4242005
                Activity
            
            
            —
            
            
            6,850
            
            
            —Balance,
                December 31, 2005
            
            
            68,500
            
            
            25,926
            
            
            42,5742006
                Activity
            
            
            1,450
            
            
            6,907
            
            
            —Balance,
                December 31, 2006
            
            $
            69,950
            
            $
            32,833
            
            $
            37,1172007
                Activity
            
            
            9,201
            
            
            7,915Balance,
                December 31, 2007
            
            
            79,151
            
            
            40,748
            
            
            38,4042008
                Activity
            
            
            —
            
            
            1,979
            
            
            —Balance,
                March 31, 2008
            
            
            79,151
            
            
            42,727
            
            
            36,380





The
      amortization expense for the periods ended March 31, 2008 and 2007 were $1,979
      and $1,908 respectively .




**NOTE
      5** - **TECHNOLOGY
      LICENSES**





The
      Company aquired two technology licenses from an officer/director in 1999 and
      2001. The Company is amortizing these licenses over fifteen years using the
      straight-line method. The technology licenses relate to the design of the back
      EMF permanent electromagnetic motor generator. The amortization expense for
      the
      periods ended March 31, 2008 and 2007 were $1,800 and $1,800
      respectively .





**NOTE
      6 - RELATED PARTY TRANSACTIONS**





During
      the year ended December 31, 2007, the company purchased a piece of testing
      equipment in the amount of approximately $1,509, for which it will be reimbursed
      by GTG Corporation. The principal shareholder of GTG is also a director of
      the
      Company.





For
      additional related party transactions, see Notes 5.




7


**ENERGENX,
              INC.**
 **(A
              Development Stage Company)**
 **CONDENSED
              NOTES TO INTERIM FINANCIAL STATEMENTS**
 **MARCH
              31, 2008**


**NOTE
      7 - CAPITAL STOCK**





Preferred
      Stock


The
      Company is authorized to issue 5,000,000 shares of preferred stock with a par
      value of $0.001. As of December 31, 2007 and 2006, the Company has not issued
      any preferred stock.





Common
      Stock


The
      Company is authorized to issue 50,000,000 shares of common stock with a par
      value of $0.001. All shares have equal voting rights, are non-assessable and
      have one vote per share.





During
      the initial period ended December 31, 1999, the Company issued 7,836,168 shares
      of its common stock at par, for cash.





During
      the year ended December 31, 2000, the Company issued 195,060 shares for
      convertible debt of $60,010. The Company also issued 9,750 shares for equipment
      valued at $3,250 and 330,000 shares for cash of $0.33 per share, or
      $110,000.





During
      the year ended December 31, 2001, the Company issued 453,000 shares of common
      stock for cash of $151,000, or $0.33 per share. The Company also issued 160,886
      share of common stock for services totaling $55,366, 1,086 shares of common
      stock to purchase equipment totaling $362, and 5,140,326 shares of common stock
      in payment of a technology license with a value of $58,000. See Note
      6.





On
      May 4,
      2001, the Company executed a 1 for 6 forward split to all shareholders of record
      as of May 1, 2001. The financial records have been restated to reflect this
      stock split in the accompanying financial statements.





During
      the year ended December 31, 2002, the Company issued 24,000 shares of its common
      stock for cash of $1.00 per share, or $24,000. The Company also issued 20,000
      shares of common stock in payment of debt of $20,000.





During
      the year ended December 31, 2003, the Company issued 3,200,000 shares of common
      stock to board members and other consultants at $0.05 per share, or $160,000.
      Also during the year ended December 31, 2003, the Company issued 2,000,000
      shares of common stock to Mr. John Bedini as a supplement to the licensing
      agreement. The Company valued these shares at $0.05 per share, or $100,000.





During
      the year ended December 31, 2004, the Company issued 2,527,000 shares of common
      stock at $0.05 per share in payment of outstanding loans and interest totaling
      $126,350. In addition, the Company issued 2,400,000 shares of common stock
      and
      options to purchase an additional 2,400,000 shares of common stock for $0.21
      per
      share for cash of $500,000. The stock options were issued with the stock in
      consideration of the stock purchase, and were valued at $0.03 per share, or
      $72,000 which was treated as a proration of additional paid-in capital upon
      the
      completion of this transaction. Furthermore, during 2004, this individual then
      exercised these options and purchased the 2,400,000 shares of common stock
      for
      $0.21 per share for an additional $500,000.




8


**ENERGENX,
              INC.**
 **(A
              Development Stage Company)**
 **CONDENSED
              NOTES TO INTERIM FINANCIAL STATEMENTS**
 **MARCH
              31, 2008**


During
      the year ended December 31, 2005, the Company issued 400,000 shares of common
      stock at $0.50 per share for cash of $200,000. These shares were issued under
      an
      existing subscription agreement as part of a stock subscription plan and
      commitment for a total of $1,500,000 for 3,000,000 shares. As of December 31,
      2005, this commitment had $1,300,000 remaining for a future commitment of
      2,600,000 shares of common stock. The Company is issuing the shares as the
      money
      is received.





During
      the year ended December 31, 2006, the Company issued 400,000 shares of common
      stock at $0.50 per share for cash of $200,000.





During
      the year ended December 31, 2007, the Company issued 2,200,000 shares of common
      stock at $0.50 per share for cash of $1,100,000.





During
      the period ended March 31, 2008, the Company did not issue any
      stock.




9





**Item
      2.** **Management’s
      Discussion and Analysis or Plan of Operations**





*THIS
      QUARTERLY REPORT ON FORM 10-QSB CONTAINS “FORWARD-LOOKING STATEMENTS” WITHIN THE
      MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND INVOLVE
      A
      HIGH DEGREE OF RISK AND UNCERTAINTY. ALL STATEMENTS, OTHER THAN STATEMENTS
      OF
      HISTORICAL FACTS, INCLUDED IN OR INCORPORATED BY REFERENCE INTO THIS FORM 10-QSB
      ARE FORWARD-LOOKING STATEMENTS. IN ADDITION, WHEN USED IN THIS DOCUMENT, THE
      WORDS “ANTICIPATE,” “ESTIMATE,” “PROJECT,” AND SIMILAR EXPRESSIONS ARE INTENDED
      TO IDENTIFY FORWARD-LOOKING STATEMENTS. OUR ACTUAL RESULTS MAY DIFFER MATERIALLY
      FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS DUE TO RISKS AND
      UNCERTAINTIES THAT EXIST IN OUR OPERATIONS. THESE FORWARD-LOOKING STATEMENTS
      ARE
      SUBJECT TO CERTAIN RISKS, UNCERTAINTIES AND ASSUMPTIONS INCLUDING AMONG OTHERS,
      THE RISK THAT OUR PRODUCT DEVELOPMENT PROGRAMS WILL NOT PROVE SUCCESSFUL, THAT
      WE WILL NOT BE ABLE TO OBTAIN FINANCING TO COMPLETE ANY FUTURE PRODUCT
      DEVELOPMENT, THAT OUR PRODUCTS WILL NOT PROVE COMPETITVE IN THEIR MARKETS.
      THESE
      RISKS AND OTHERS ARE MORE FULLY DESCRIBED IN OUR ANNUAL REPORT ON FORM 10-KSB.
      SHOULD ONE OR MORE OF THESE RISKS OR UNCERTAINTIES MATERIALIZE, OR SHOULD
      UNDERLYING ASSUMPTIONS PROVE INCORRECT, ACTUAL RESULTS MAY VARY MATERIALLY
      FROM
      THOSE ANTICIPATED, ESTIMATED OR PROJECTED.*





*ALTHOUGH
      WE BELIEVE THAT THE EXPECTATIONS INCLUDED IN SUCH FORWARD-LOOKING STATEMENTS
      ARE
      REASONABLE, WE CANNOT GIVE ANY ASSURANCES THAT THESE EXPECTATIONS WILL PROVE
      TO
      BE CORRECT. WE UNDERTAKE NO OBLIGATION TO PUBLICLY RELEASE THE RESULT OF ANY
      REVISIONS TO SUCH FORWARD-LOOKING STATEMENTS THAT MAY BE MADE TO REFLECT EVENTS
      OR CIRCUMSTANCES AFTER THE DATE HEREOF OR TO REFLECT THE OCCURRENCE OF
      UNANTICIPATED EVENTS.*





The
      following discussion and analysis should be read in conjunction with our
      financial statements and the notes thereto appearing in Part I, Item
      1.




**General**




Since
      commencement of operations in 1999, our efforts have been principally devoted
      to
      research and development activities, including the development of an efficient
      energy generation system and battery chargers, recruiting management personnel
      and advisors, and raising capital.




**Product
      Research and Development Plans**




Our
      current plan of operation for the next 12 months primarily involves meeting
      any
      demand for our battery charger/rejuvenator products from Renaissance Charger,
      LLC and GTG Corp., and research and development activities on battery
      charger/rejuvenator and charge control unit products.




Concerning
      the battery charger/rejuvenators, product research will continue on improving
      efficiency. We will continue our development of variations of the
      charger/rejuvenators for specific markets to accommodate various
      volt **** applications
      with a wide range of capacity requirements. In June 2007 we delivered a new
      golf
      cart version of the 36/48 volt of our battery charger/rejuvenator to GTG Corp.
      also for in-house testing and potentially for further UL assessment, testing
      and
      certification. In addition, in May 2007 we completed development of a 12 volt
      battery charger. During 2007 we sold 139 of the 12 volt battery chargers to
      Renaissance Charger LLC who is undertaking in-house testing and sample marketing
      of these battery chargers, which resulted in the recognition of $17,985 of
      revenue for the year ending December 31, 2007. Depending on the results of
      the
      in-house testing being undertaken by Renaissance Charger LLC, Energenx and
      Renaissance may enter into a joint venture relationship involving the sale
      and
      market testing of other charger/rejuvenators and solar/wind charge control
      units.




10




We
      may
      generate revenues pursuant to our Exclusive Technology License Agreement with
      GTG Corp. if they order battery charger/rejuvenators. As mentioned above, we
      did
      generate revenues from the sale of 139 of our 12 volt battery charger units
      to
      Renaissance Charger LLC during 2007. We cannot assure you that GTG Corp. will
      order any charger/rejuvenators from us in 2008 or ever, that GTG Corp. or
      Renaissance Charger LLC will order additional charger/rejuvenators, that
      licensed battery charger products will ever reach the market giving rise to
      royalty payments or that additional revenues from patent licensing will be
      generated.





Concerning
      the further development of our electromagnetic motor/generator battery system,
      we intend to improve the current system and design larger scale systems that
      may
      allow us to generate larger amounts of energy that can be utilized to charge
      multiple banks of batteries.





While
      we
      have no plans to relocate our current research facility within the next twelve
      months, equipment purchases will be necessary if we receive orders for the
      battery charger/rejuvenators from GTG Corp. Such equipment would include test
      equipment, oscilloscopes, analyzers, soldiering stations, and packaging
      equipment. Such equipment purchases are likely to be in the range of $100,000
      for the next twelve months if the need arises. We may also need to hire up
      to
      three more employees if we receive orders from GTG Corp. We intend to contract
      out the bulk of the manufacturing of the hybrid modules, with final testing,
      potting and packaging of the hybrid modules to be done in house.





Our
      actual research and development and related activities may vary significantly
      from current plans depending on numerous factors, including changes in the
      costs
      of such activities from current estimates, the results of our research and
      development programs, technological advances, determinations as to commercial
      viability and the status of competitive products. The focus and direction of
      our
      operations will also be dependent on the establishment of our collaborative
      arrangement with other companies, the availability of financing and other
      factors. We expect our development costs to increase as **** our
      battery charger systems development programs enters the later stages of
      development.







**Liquidity
      and Capital Resources**




As
      of
      March 31, 2008, we had $433,625 in cash and cash equivalents as compared to
      $532,545 in cash and cash equivalents at December 31, 2007. We do not have
      any
      available lines of credit. Since inception we have financed our operations
      from
      private placements of equity securities and loans from
      shareholders.




11




Net
      cash
      used in operating activities during the three months ended March 31, 2008 was
      $93,787 resulting in a net loss of $101,855.




Our
      current real estate lease is on a two year renewal basis. We plan to finance
      our
      needs principally from the following:





·
              our
                  existing capital resources and interest earned on that
                  capital;





·
              revenues
                  from purchase of Potential modules by GTG Corp., if
                  any;





·
              revenues
                  from sale of chargers to Renaissance Charge, LLC, if
                  any;





·
              royalty
                  income, if any, from product sales by GTG
                  Corp.;





·
              through
                  future private placement
                  financing.





As
      mentioned above, we may generate revenue from GTG Corp. if they order Potential
      hybrid modules under our license agreement or if Renaissance Charge purchases
      more of our chargers. We cannot at this time assure you that those orders will
      occur or revenues will be generated in fiscal year 2008, if at all.





We
      believe that we have sufficient capital resources to finance our plan of
      operation at least through the first quarter of 2009. However, this is a
      forward-looking statement, and there may be changes that could consume available
      resources before the end of the year. Our long term capital requirements and
      the
      adequacy of our available funds will depend on many factors, including our
      reporting company costs, patent costs for filing, prosecuting, maintaining
      and
      defending our patent rights, among others.




We
      may
      need to raise additional capital or generate additional revenue to complete
      our
      development of product variations on our battery charger/rejuvenators, our
      hybrid electromagnetic motor/generator product candidate and our charge control
      unit. We cannot assure you that we will generate sufficient additional capital
      or revenues, if any, to fund our operations beyond the first quarter of 2009,
      that any future equity financings will be successful, or that other potential
      financings through bank borrowings, debt or equity offerings, or otherwise,
      will
      be available on acceptable terms or at all. If we are unable to raise additional
      capital when necessary we will have to curtail or cease operations.




**Critical
      Accounting Policies and Estimates**




This
      discussion and analysis of our financial condition and results of operations
      are
      based on our financial statements that have been prepared under accounting
      principles generally accepted in the United States of America. The preparation
      of financial statements in conformity with accounting principles generally
      accepted in the United States of America requires our management to make
      estimates and assumptions that affect the reported amounts of assets and
      liabilities and the disclosure of contingent assets and liabilities at the
      date
      of the financial statements and the reported amounts of revenue and expenses
      during the reporting period. Actual results could materially differ from those
      estimates. We have disclosed all significant accounting policies in Note 2
      to
      the financial statements included in our Form 10-KSB. Our critical accounting
      policies are:




12


**Revenue
      recognition** *:* Revenue
      is recorded when products are shipped and we have no significant remaining
      obligations, persuasive evidence of an arrangement exits, the price to the
      buyer
      is fixed or determinable, and collectability is reasonably assured or probable.
      Product sales revenue is recognized when title and risk of loss have passed
      to
      the buyer. According to our terms of sale, title and risk of loss pass to the
      customer upon delivery to the carrier. Royalties will be recognized as revenue
      when the amounts are contractually earned, fixed and determinable, and there
      is
      substantial probability of collection.





**Research,
      development costs:** Research
      and development costs are expensed as incurred. Beginning with the financial
      statements for the quarter ending June 30, 2005 we have included certain salary
      and benefit expenses in the research and development line item.





**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 those
      estimates.





**Intangible
      Assets.** Energenx’ intangible assets are composed of a patent and license. They are
      amortized on a straight-line basis over ten and fifteen year lives,
      respectively.





**Item
      3A(T).** **Controls
      and Procedures.**




In
      connection with the preparation of this Quarterly Report on Form 10-QSB, an
      evaluation was carried out by our management, with the participation of our
      Chief Executive Officer and Chief Financial Officer, of the effectiveness of
      our
      disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e)
      of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), as of
      March 31, 2008. Disclosure controls and procedures are designed to ensure that
      information required to be disclosed in reports filed or submitted under the
      Exchange Act is recorded, summarized, and reported within the time periods
      specified in SEC rules and forms and that such information is accumulated and
      communicated to management, including the Chief Executive Officer and Chief
      Financial Officer, to allow timely decisions regarding required disclosures.
      Based on that evaluation, and in light of the previously identified material
      weakness in internal control over financial reporting, as of December 31, 2007,
      relating to fundamental elements of an effective control environment described
      in the 2007 Annual Report on Form 10-KSB, our principal executive officer and
      our principal financial officer have concluded that our disclosure controls
      and
      procedures were not effective as of March 31, 2008. There has been no change
      in
      our internal control over financial reporting that occurred during our most
      recent fiscal quarter that has materially affected, or is reasonably likely
      to
      materially affect, our internal control over financial reporting. There were
      no
      changes in our internal control over financial reporting because of the timing
      of the filing of Form 10-KSB in relation to the filing of the Form 10-QSB,
      there
      was insufficient time for us to implement any material changes in internal
      control over financial reporting.




13





**PART
      II - OTHER INFORMATION**




**Item
      1. Legal Proceedings.**





None.





**Item
      2. Unregistered Sales of Securities and Use of Proceeds.**





None.





**Item
      3. Defaults Upon Senior Securities.**





None.





**Item
      4. Submission of Matters to a Vote of Security Holders.**





None.





**Item
      5. Other Information.**




None.




**Item
      6.** **Exhibits**




(a)
            Exhibits  31.1
            Certification
                of Principal Executive Officer pursuant to rule 13a-14(a)/15d-14(a),
                as
                adopted pursuant to Section 302 of the Sarbannes-Oxley Act of
                2002.




31.2
            Certification
                of Principal Financial Officer pursuant to rule 13a-14(a)/15d-14(a),
                as
                adopted pursuant to Section 302 of the Sarbannes-Oxley Act of
                2002.




32.1
            Certification
                of the Principal Executive Officer pursuant to 18 U.S.C. Section
                1350, as
                adopted pursuant to Section 906 of the Sarbannes-Oxley Act of
                2002.




32.2
            Certification
                of the Principal Financial Officer pursuant to 18 U.S.C. Section
                1350, as
                adopted pursuant to Section 906 of the Sarbannes-Oxley Act of
                2002.




**SIGNATURE**





Pursuant
      to the requirements of the Securities Exchange Act of 1934, Energenx has duly
      caused this report to be signed on its behalf by the undersigned thereunto
      duly
      authorized.




Dated:
      May 12, 2008.


ENERGENX,
      INC.






By: /s/
      Gary A. Bedini


Gary
      A.
      Bedini


President
      and Chief Executive Officer




By: /s/
      Rick M.
      Street


Rick
      M.
      Street


Chief
      Financial Officer, Secretary, and Treasurer (Principal Financial and Accounting
      Officer)




14