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|   | Minnesota                                                           |   | 41-1596056                             |   |
|--------|---------------------------------------------------------------------|--------|----------------------------------------|--------|
|   | (State      or other jurisdiction of incorporation or organization) |   | (IRS      Employer Identification No.) |   |
|   |                                                                |   |                                   |   |
|   | 3245 Hennepin Ave S Suite 1,      Minneapolis MN                    |   | 55408                                  |   |
|   | (Address      of Principal Executive Offices)                       |   | (Zip      Code)                        |   |

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| SUBJEX CORPORATION INDEX                                                                                          |   |             |
|-------------------------------------------------------------------------------------------------------------------|--------|------------------|
|                                                                                                              |   | Page      Number |
| PART      I - FINANCIAL INFORMATION                                                                               |   |             |
|                                                                                                              |   |             |
| ITEM      1. FINANCIAL      STATEMENTS                                                                            |   |             |
|                                                                                                              |   |             |
| Balance Sheets as of March 31, 2008 (unaudited)and December 31,      2007 (audited)                               |   | 3                |
|                                                                                                              |   |             |
| Statements of Operations for the Three Months Ended March 31,      2008 and March 31, 2007 (unaudited)            |   | 4                |
|                                                                                                              |   |             |
| Statements of Cash Flows for the Three Months Ended March 31,      2008 and March 31, 2007 (unaudited)            |   | 5                |
|                                                                                                              |   |             |
| Notes to the Financial Statements                                                                                 |   | 6                |
|                                                                                                              |   |             |
| ITEM      2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL      CONDITION AND RESULTS OF      OPERATIONS |   | 7                |
|                                                                                                              |   |             |
| ITEM      3. CONTROLS      AND      PROCEDURES                                                                    |   | 10               |
|                                                                                                              |   |             |
| PART      II – OTHER INFORMATION                                                                            |   | 11               |
|                                                                                                              |   |             |
| ITEM      1. LEGAL PROCEEDINGS                                                                                    |   |        11   |
|                                                                                                              |   |             |
| ITEM      2. CHANGE IN SECURITIES AND USE OF    PROCEEDS                                                          |   |        11   |
|                                                                                                              |   |             |
| ITEM      3. DEFAULTS UPON SENIOR SECURITIES                                                                      |   |        11   |
|                                                                                                              |   |             |
| ITEM      4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY      HOLDERS                                             |   |        11   |
|                                                                                                              |   |             |
| ITEM      5. OTHER INFORMATION                                                                                    |   |        11   |
|                                                                                                              |   |             |
| ITEM      6.  EXHIBITS AND REPORTS ON FORM      8-K                                                     |   |        11   |
|                                                                                                              |   |             |
| CERTIFICATION PURSUANT TO SECTION 06 OF THE SARBANES-OXLEY ACT      OF 2002                                       |   |        11   |
|                                                                                                              |   |             |
| CERTIFICATIONS                                                                                                    |   | 12               |
| SIGNATURES                                                                                                        |   |             |

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Index

BALANCE 

|                                                                                                                                                                                             |   | March 31, |       |   | December, 31 |   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------|------------|--------|-------------------|--------|
|                                                                                                                                                                                             |   | 2008           |       |   | 2007              |   |
|                                                                                                                                                                                             |   | (Unaudited)    |       |   | (Audited)         |   |
| ASSETS                                                                                                                                                                                           |   |           |       |   |              |   |
| Current      Assets:                                                                                                                                                                             |   |           |       |   |              |   |
| Cash                                                                                                                                                                                             |   | $              | 3          |   |              | $      | 15,217 |   |
| Accounts      receivable                                                                                                                                                                         |   |           | 1,517      |   |              |   | 1,517 |   |
| Prepaid      expenses                                                                                                                                                                            |   |           | 28,125     |   |              |   | 37,500 |   |
|                                                                                                                                                                                             |   |           |       |   |              |   |   |   |
| Total      current assets                                                                                                                                                                        |   |           | 29,645     |   |              |   | 54,234 |   |
|                                                                                                                                                                                             |   |           |       |   |              |   |   |   |
| Property      and Equipment, net                                                                                                                                                                 |   |           | 2,405      |   |              |   | 5,017 |   |
| Other      Assets, net                                                                                                                                                                           |   |           | 7,211      |   |              |   | 3,611 |   |
|                                                                                                                                                                                             |   |           |       |   |              |   |   |   |
| Total      assets                                                                                                                                                                                |   | $              | 39,261     |   |              | $      | 62,862 |   |
|                                                                                                                                                                                             |   |           |       |   |              |   |   |   |
|                                                                                                                                                                                             |   |           |       |   |              |   |   |   |
| LIABILITIES AND      STOCKHOLDERS' DEFICIT                                                                                                                                                       |   |           |       |   |              |   |   |   |
|                                                                                                                                                                                             |   |           |       |   |              |   |   |   |
| Current      Liabilities:                                                                                                                                                                        |   |           |       |   |              |   |   |   |
| Short-term      notes payable                                                                                                                                                                    |   |           | 25,207     |   |              |   | 27,177 |   |
| Subordinated      convertible notes payable                                                                                                                                                      |   |           | 23,000     |   |              |   | 23,000 |   |
| Accounts      payable                                                                                                                                                                            |   |           | 171,312    |   |              |   | 160,632 |   |
| Accrued      expenses:                                                                                                                                                                           |   |           |       |   |              |   |   |   |
| Accrued      expenses-related party                                                                                                                                                              |   |           | 21,653     |   |              |   | 31,006 |   |
| Payroll      and payroll taxes                                                                                                                                                                   |   |           | 25,942     |   |              |   | 13,383 |   |
| Interest                                                                                                                                                                                         |   |           | 23,618     |   |              |   | 23,052 |   |
| Accrued      expenses                                                                                                                                                                            |   |           | 4,415      |   |              |   | 3,633 |   |
|                                                                                                                                                                                             |   |           |       |   |              |   |   |   |
| Total      current liabilities                                                                                                                                                                   |   |           | 295,147    |   |              |   | 281,883 |   |
|                                                                                                                                                                                             |   |           |       |   |              |   |   |   |
| Long-term      debt:                                                                                                                                                                             |   |           |       |   |              |   |   |   |
| Long-term      debt, less current portion                                                                                                                                                        |   |           | -          |   |              |   | - |   |
|                                                                                                                                                                                             |   |           |       |   |              |   |   |   |
| Total      liabilities                                                                                                                                                                           |   |           | 295,147    |   |              |   | 281,883 |   |
|                                                                                                                                                                                             |   |           |       |   |              |   |   |   |
| Stockholders'      deficit:                                                                                                                                                                      |   |           |       |   |              |   |   |   |
| Common      stock, no par or stated value;100,000,000 shares authorized: 88,357,389      and 85,434,166 shares issued and outstanding at March 31, 2008 and      December 31, 2007, respectively |   |           | 6,504,908  |   |              |   | 6,462,408 |   |
| Subscription      received                                                                                                                                                                       |   |           |       |   |              |   | 10,000 |   |
| Accumulated      deficit                                                                                                                                                                         |   |           | (6,760,794 | )      |              |   | (6,691,429 | ) |
|                                                                                                                                                                                             |   |           |       |   |              |   |   |   |
| Stockholders'      deficit                                                                                                                                                                       |   |           | (255,886   | )      |              |   | (219,021 | ) |
|                                                                                                                                                                                             |   |           |       |   |              |   |   |   |
|                                                                                                                                                                                             |   |           |       |   |              |   |   |   |
| Total      liabilities and stockholders’ deficit                                                                                                                                           |   | $              | 39,261     |   |              | $      | 62,862 |   |

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Index

STATEMENTS 

|                                                                |   | Three      Months Ended March 31, |       |
|---------------------------------------------------------------------|--------|----------------------------------------|------------|
|                                                                |   | 2008                                   |       |   | 2007 |   |
|                                                                |   |                                   |       |   |   |   |
| Revenues                                                            |   | $                                      | -          |   |   | $ | 40,374 |   |
|                                                                |   |                                   |       |   |   |   |   |   |
| Expenses:                                                           |   |                                   |       |   |   |   |   |   |
| Selling,      general and administrative                            |   |                                   | 67,885     |   |   |   | 218,454 |   |
|                                                                |   |                                   |       |   |   |   |   |   |
| Total      operating expense                                        |   |                                   | 67,885     |   |   |   | 218,454 |   |
|                                                                |   |                                   |       |   |   |   |   |   |
| Operating      loss                                                 |   |                                   | (67,885    | ) |   |   | (178,080 | ) |
|                                                                |   |                                   |       |   |   |   |   |   |
| Other      income (expense)                                         |   |                                   |       |   |   |   |   |   |
| Interest      expense                                               |   |                                   | (1,480     | ) |   |   | - |   |
|                                                                |   |                                   |       |   |   |   |   |   |
| Net      loss                                                       |   | $                                      | (69,365    | ) |   | $ | (178,080 | ) |
|                                                                |   |                                   |       |   |   |   |   |   |
| Net      loss per basic and diluted common share                    |   | $                                      | (0.001     | ) |   | $ | (0.001 | ) |
|                                                                |   |                                   |       |   |   |   |   |   |
|                                                                |   |                                   |       |   |   |   |   |   |
| Weighted      average common shares outstanding - basic and diluted |   |                                   | 85,434,166 |   |   |   | 68,394,711 |   |

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Index

STATEMENTS 

|                                                                                        |   | Three      Months Ended March 31, |    |
|---------------------------------------------------------------------------------------------|--------|----------------------------------------|---------|
|                                                                                        |   | 2008                                   |    |   | 2007 |   |
|                                                                                        |   |                                   |    |   |   |   |
| Cash      flow from operating activities:                                                   |   |                                   |    |   |   |   |
| Net      loss                                                                               |   | $                                      | (69,365 | ) |   | $ | (178,080 | ) |
| Adjustments      to reconcile net loss to net cash flows used in operating      activities: |   |                                   |    |   |   |   |   |   |
| Depreciation      and amortization                                                          |   |                                   | 2,612   |   |   |   | 2,769 |   |
| Non      cash common stock issued for consulting services                                   |   |                                   | 2,500   |   |   |   | 77,250 |   |
| Non      cash common stock issued for refund of previous year    revenue                    |   |                                   | -       |   |   |   | 82,000 |   |
| Non      cash common stock issued to settle other liability                                 |   |                                   | 5,000   |   |   |   | 20,000 |   |
| Changes      in operating assets and liabilities:                                           |   |                                   |    |   |   |   |   |   |
| Accounts      receivable                                                                    |   |                                   | -       |   |   |   | (29,312 | ) |
| Prepaid      expenses                                                                       |   |                                   | 9,375   |   |   |   | (57,230 | ) |
| Accounts      payable                                                                       |   |                                   | 10,679  |   |   |   | 6,517 |   |
| Payroll      and payroll taxes                                                              |   |                                   | 12,559  |   |   |   | (11,068 | ) |
| Refunds      Payable                                                                        |   |                                   | -       |   |   |   | (82,000 | ) |
| Accrued      expenses                                                                       |   |                                   | 782     |   |   |   | - |   |
| Accrued      interest                                                                       |   |                                   | 567     |   |   |   | - |   |
| Accrued      expenses-related party                                                         |   |                                   | (9,353  | ) |   |   | - |   |
|                                                                                        |   |                                   |    |   |   |   |   |   |
| Net      cash used in operating activities                                                  |   |                                   | (34,644 | ) |   |   | (169,154 | ) |
|                                                                                        |   |                                   |    |   |   |   |   |   |
|                                                                                        |   |                                   |    |   |   |   |   |   |
| Cash      flow from investing activities:                                                   |   |                                   |    |   |   |   |   |   |
| Purchase      of property and equipment                                                     |   |                                   | -       |   |   |   | (16,083 | ) |
|                                                                                        |   |                                   |    |   |   |   |   |   |
| Net      cash used in investing activities                                                  |   |                                   | -       |   |   |   | (16,083 | ) |
|                                                                                        |   |                                   |    |   |   |   |   |   |
|                                                                                        |   |                                   |    |   |   |   |   |   |
| Cash      flow from financing activities:                                                   |   |                                   |    |   |   |   |   |   |
| Proceeds      from issuance of capital stock                                                |   |                                   | 25,000  |   |   |   | 175,000 |   |
| Proceeds      from stock subscriptions                                                      |   |                                   | (10,000 | ) |   |   | - |   |
| Issuance      of notes rceivable                                                            |   |                                   | 6,400   |   |   |   | - |   |
| Other      liability                                                                        |   |                                   | (1,970  | ) |   |   | (26,000 | ) |
|                                                                                        |   |                                   |    |   |   |   |   |   |
| Net      cash provided by financing activities                                              |   |                                   | 19,430  |   |   |   | 149,000 |   |
|                                                                                        |   |                                   |    |   |   |   |   |   |
|                                                                                        |   |                                   |    |   |   |   |   |   |
| Decrease      in cash                                                                       |   |                                   | (15,214 | ) |   |   | (36,237 | ) |
| Cash      at beginning of period                                                            |   |                                   | 15,217  |   |   |   | 96,835 |   |
|                                                                                        |   |                                   |    |   |   |   |   |   |
| Cash      at end of period                                                                  |   | $                                      | 3       |   |   | $ | 60,598 |   |

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SIGNATURES

| NAME                               |   | TITLE                                      |
|------------------------------------|--------|--------------------------------------------|
| /s/      Andrew D. Hyder |   | President      and Chief Executive Officer |

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