UNITED
STATES SECURITIES & EXCHANGE COMMISSION


Washington,
D.C. 20549





FORM
10-Q





x QUARTERLY REPORT UNDER
SECTION 13 OR 15(d) OF THE SECURITIES


AND
EXCHANGE ACT OF 1934


For the quarterly period
ended September 30, 2008





o TRANSITION REPORT UNDER
SECTION 13 OR 15(d) OF THE EXCHANGE


ACT OF
1934





Commission
File Number0-29711





Subjex
Corporation


(Exact
name of issuer in its charter)





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





612-827-2203


(Issuer’s telephone number)







(Former Name, Former Address and Former Fiscal Year, if
Changed Since Last Report)





Securities registered pursuant to Section 12(b) of the
Exchange Act:  None





Securities registered pursuant to Section 12(g) of the
Exchange Act:





Common Stock, no par value





Check whether theregistrantis not
required to file reports pursuant to Section 13 or 15(d) of the Exchange
Act.o




Check
whether the registrant: (1) filed all reports required to be filed by Section 13
or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or
for such shorter periods that the issuer was required to file such reports), and
(2) has been subject to such filing requirements for the past 90 days. YES x NO o





Indicate
by check mark whether the registrant is a large accelerated filer, an acceleratd
filer, a non-accelerated filer or a smaller reporting company.





Large
      accelerated filer o
              Accelerated
      filer oNon-accelerated
      filer o
              Smaller
      reporing company o




Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act). Yes oNo x





TraditionalSmall
Business Disclosure Format: YesoNox




As ofNovember 7, 2008 there were99,997,720 outstandingshares of common stock, no par
value.




The
aggregate market value of the common
stockof the issuer held by non-affiliates
of the issuer on November 7, 2008 based on
the closing price of the common stockas reported on the OTC Bulletin Board on such date was $2,499,943.













SUBJEXCORPORATION INDEX




Page
      NumberPART
      I - FINANCIAL INFORMATIONITEM
      1.
                    FINANCIAL
      STATEMENTSBalance Sheets as of September 30, 2008 (unaudited) and
      December 31, 2007 (audited)
                    3Statements of Operations for the Three and Nine Months Ended
      September 30, 2008 and September 30, 2007 (unaudited)
                    4Statements of Cash Flows for the Nine Months Ended September
      30, 2008 and September 30, 2007 (unaudited)
                    5Notes to the Financial Statements
                    6ITEM
      2.
                    MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
      RESULTS OF OPERATIONS
                    7ITEM
      3.
                    QUANTITATIVE AND QUALITATIVE
      DISCLOSURES ABOUT MARKET RISK
                    9ITEM
      4.
                    CONTROLS AND PROCEDURES
                    9ITEM
      4T.
                    CONTROLS AND PROCEDURES
                    9PART
      II – OTHER INFORMATION
                    10ITEM
      1.
                    LEGAL PROCEEDINGS
                    10ITEM
      2.
                    CHANGE IN SECURITIES AND USE OF PROCEEDS
                    11ITEM
      3.
                    DEFAULTS UPON SENIOR SECURITIES
                    11ITEM
      4.
                    SUBMISSION OF MATTERS TO A VOTE OF SECURITY
      HOLDERS
                    11ITEM
      5.
                    OTHER INFORMATION
                    11ITEM
      6.
                    EXHIBITS AND REPORTS ON FORM 8-K
                    11CERTIFICATION
      PURSUANT TO SECTION 06 OF THE SARBANES-OXLEY ACT OF 2002CERTIFICATIONS
                    12SIGNATURES
                    12





References to the “Company,” the “Registrant,” “we”,
“us” or “our” in this Quarterly Report on Form 10-Q refer to Subjex
Corporation., unless the context indicates otherwise.





2
 Index





SUBJEXCORPORATION


BALANCE
SHEETS





September
      30,
                          
                          
                          December
      31,2008
                          
                          
                          2007(Unaudited)
                          
                          
                          (Audited)ASSETSCurrent
      Assets:Cash
                          
                          $
                          2,505
                          
                          
                          $
                          15,217Accounts
      receivable
                          
                          
                          -
                          
                          
                          
                          1,517Prepaid
      expenses
                          
                          
                          14,375
                          
                          
                          
                          37,500Total
      current assets
                          
                          
                          16,880
                          
                          
                          
                          54,234Property
      and equipment, net
                          
                          
                          1,179
                          
                          
                          
                          5,017Other
      assets, net
                          
                          
                          2,611
                          
                          
                          
                          3,611Total
      assets
                          
                          $
                          20,670
                          
                          
                          $
                          62,862LIABILITIES AND STOCKHOLDERS'
      DEFICITCurrent
      Liabilities:Short-term
      notes payable
                          
                          
                          19,863
                          
                          
                          
                          27,177Subordinated
      convertible notes payable
                          
                          
                          23,000
                          
                          
                          
                          23,000Accounts
      payable
                          
                          
                          179,519
                          
                          
                          
                          160,632Accrued
      expenses:Accrued
      expenses-related party
                          
                          
                          7,330
                          
                          
                          
                          31,006Payroll
      and payroll taxes
                          
                          
                          36,278
                          
                          
                          
                          13,383Interest
                          
                          
                          24,753
                          
                          
                          
                          23,052Accrued
      expenses
                          
                          
                          3,905
                          
                          
                          
                          3,633Total
      current liabilities
                          
                          
                          294,648
                          
                          
                          
                          281,883Long-term
      debt:Long-term
      debt, less current portion
                          
                          
                          -
                          
                          
                          
                          -Total
      liabilities
                          
                          
                          294,648
                          
                          
                          
                          281,883Stockholders'
      deficit:Common
      stock, no par or stated value;100,000,000 shares authorized: 99,297,720
      and 85,434,166 shares issued and outstanding at September 31, 2008 and
      December 31, 2007, respectively
                          
                          
                          6,662,546
                          
                          
                          
                          6,462,408Subscription
      received
                          
                          
                          -
                          
                          
                          
                          10,000Accumulated
      deficit
                          
                          
                          (6,936,524
                          )
                          
                          
                          (6,691,429
                          )Stockholders'
      deficit
                          
                          
                          (273,978
                          )
                          
                          
                          (219,021
                          )Total
      liabilities and stockholders’ deficit
                          
                          $
                          20,670
                          
                          
                          $
                          62,862








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





3
 Index





SUBJEXCORPORTION


STATEMENTS
OF OPERATIONS


(Unaudited)





Three
      Months Ended September 30,
                        
                        
                        Nine
      Months Ended September 30,2008
                        
                        
                        2007
                        
                        
                        2008
                        
                        
                        2007Revenues
                        
                        $
                        575
                        
                        
                        $
                        2,160
                        
                        
                        $
                        575
                        
                        
                        $
                        83,280Expenses:Selling,
      general and administrative
                        
                        
                        115,160
                        
                        
                        
                        629,034
                        
                        
                        
                        242,046
                        
                        
                        
                        1,297,641Total
      operating expense
                        
                        
                        115,160
                        
                        
                        
                        629,034
                        
                        
                        
                        242,046
                        
                        
                        
                        1,297,641Operating
      loss
                        
                        
                        (114,585
                        )
                        
                        
                        (626,874
                        )
                        
                        
                        (241,471
                        )
                        
                        
                        (1,214,361
                        )Other
      income (expense)Interest
      expense
                        
                        
                        (1,457
                        )
                        
                        
                        (1,063
                        )
                        
                        
                        (3,624
                        )
                        
                        
                        (4,016
                        )Net
      loss
                        
                        $
                        (116,042
                        )
                        
                        $
                        (627,937
                        )
                        
                        $
                        (245,095
                        )
                        
                        $
                        (1,218,377
                        )Net
      loss per basic and diluted common share
                        
                        $
                        (0.001
                        )
                        
                        $
                        (0.008
                        )
                        
                        $
                        (0.001
                        )
                        
                        $
                        (0.001
                        )Weighted
      average common shares outstanding - basic and diluted
                        
                        
                        99,297,720
                        
                        
                        
                        80,767,011
                        
                        
                        
                        99,297,720
                        
                        
                        
                        80,767,011





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





4
 Index





SUBJEXCORPORTION


STATEMENTS
OF CASH FLOWS


(Unaudited)





Nine
      Months Ended September 30,2008
                    
                    
                    2007Cash
      flow from operating activities:Net
      loss
                    
                    $
                    (245,095
                    )
                    
                    $
                    (1,218,377
                    )Adjustments
      to reconcile net loss to net cash flows used in operating
      activities:Depreciation
      and amortization
                    
                    
                    3,838
                    
                    
                    
                    8,312Amortization
      prepaid expense
                    
                    
                    -
                    
                    
                    
                    45,020Non
      cash common stock issued for consulting services
                    
                    
                    53,800
                    
                    
                    
                    732,003Changes
      in operating assets and liabilities:Accounts
      receivable
                    
                    
                    1,517
                    
                    
                    
                    (1,517
                    )Prepaid
      expenses
                    
                    
                    23,125
                    
                    
                    
                    (75,000
                    )Accounts
      payable
                    
                    
                    18,886
                    
                    
                    
                    41,895Payroll
      and payroll taxes
                    
                    
                    22,895
                    
                    
                    
                    11,220Refunds
      payable
                    
                    
                    -
                    
                    
                    
                    (82,000
                    )Accrued
      expenses
                    
                    
                    (7,042
                    )
                    
                    
                    -Accrued
      interest
                    
                    
                    1,701
                    
                    
                    
                    2,156Accrued
      expenses-related party
                    
                    
                    (23,676
                    )
                    
                    
                    26,249Net
      cash used in operating activities
                    
                    
                    (150,050
                    )
                    
                    
                    (510,039
                    )Cash
      flow from investing activities:Purchase
      of property and equipment
                    
                    
                    -
                    
                    
                    
                    (11,887
                    )Notes
      Receivable
                    
                    
                    1,000
                    
                    
                    
                    -Net
      cash used in investing activities
                    
                    
                    1,000
                    
                    
                    
                    (11,887
                    )Cash
      flow from financing activities:Proceeds
      from issuance of capital stock
                    
                    
                    146,338
                    
                    
                    
                    410,750Proceeds
      from stock subscriptions
                    
                    
                    (10,000
                    )
                    
                    
                    20,000Net
      cash provided by financing activities
                    
                    
                    136,338
                    
                    
                    
                    430,750Decrease
      in cash
                    
                    
                    (12,712
                    )
                    
                    
                    (91,176
                    )Cash
      at beginning of period
                    
                    
                    15,217
                    
                    
                    
                    96,835Cash
      at end of period
                    
                    $
                    2,505
                    
                    
                    $
                    5,659Supplemental
      cash flow information:Cash
      paid for interest
                    
                    $
                    -
                    
                    
                    $
                    -Cash
      paid for income taxes
                    
                    $
                    -
                    
                    
                    $
                    -





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





5
 Index





Notesto the
Financial Statements(unaudited)








Note
1.  Basis of Presentation





The
accompanying unaudited condensed financial statements of Subjex Corporation (the
Company) have been prepared in accordance with generally accepted accounting
principles for interim financial information and with the instructions to Item
310(b) of Regulation S-B. Accordingly, they do not include all of the
information and footnotes required by accounting principles generally accepted
in the United States of America for complete financial statements. All
adjustments which, in the opinion of management, are considered necessary for a
fair presentation of the results of operations for the periods shown are of a
normal recurring nature and have been reflected in the unaudited condensed
financial statements. There are no additional material subsequent events or
material contingencies that require disclosure. The results of operations for
the periods presented are not necessarily indicative of the results expected for
the full fiscal year or for any future period. The information included in these
unaudited condensed financial statements should be read in conjunction with
Management’s Discussion and Analysis  contained in this reportand with the
financial statements and accompanying notes included in the Annual Report on
Form 10-KSB for the year ended December 31, 2007.




Note 2.
Acquisition of Assets




None.




Note
3.  Going Concern





The
Company had a working capital deficit and recurring net losses from operations
in the third quarter ending September 30, 2008 and had insufficient cash on hand
to support its ongoing operations. These factors create doubt about the
Company's ability to continue as a going concern.





Note
4.  Payroll and Payroll Taxes





The
Company owes the IRS related to employee payroll withholdings and payroll taxes
aggregating approximately $6,000 at  September  30,
2008.  This liability is included in accrued expenses – payroll and
payroll taxes. The Company is working with the IRS and has been set up with a
payment arrangement.  Until all amounts owed are paid to the IRS, the
IRS will maintain a federal tax lien on the Company’s property.




Note 5.
Stockholders’ Deficit





Despite
management’s desire to contain dilution, during the third quarter of 2008, the
Company issued 4,945,886 shares of common stock for operational funds. The
company is diligently working hard to grow its
revenues  without  future dilution.





6
 Index





ITEM2.  Management’s Discussion and Analysis





CAUTIONARY
STATEMENT FOR PURPOSES OF THE "SAFE HARBOR" PROVISIONS OF THE PRIVATE
SECURITIES LITIGATION REFORM ACT OF 1995





Statements
in this discussion which are not historical facts may be considered "forward
looking statements" within the meaning of Section 21E of the Securities Act of
1934, as amended. The words "believe", "expect", "anticipate", "estimate", and
similar expressions identify forward looking statements. Any forward looking
statement involves risks and uncertainties that could cause actual events or
results to differ, perhaps materially, from the events described in the forward
looking statements. Readers are cautioned not to place undue reliance on these
forward looking statements. The Company undertakes no obligation to publicly
update or revise any forward looking statement, whether as a result of new
information, future events or otherwise. The risks associated with the Company's
forward looking statements include, but are not limited to, risks associated
with the Company's losses and uncertain profitability, sales and marketing
strategies, competition, general economic conditions, reliance on key management
and production people, current and future capital needs, dilution, effects of
outstanding notes and convertible debentures, limited public market for the
Company’s capital stock, low stock price,
and lack of liquidity.





The following discussion and analysis
should be read in conjunction with the Financial Statements, related notes and
other information included in this quarterly report on Form 10-Q and the annual report Form 10KSB
for 12-31-2007.





Description
of Business





Subjex
Corporation, aMinnesotacorporation formed in 1999, is an innovative developer and marketer of
artificial intelligence software products.
The flagship product, SubjexFMS (“Forecast Market
Software”)is a licensed software product that forecasts the
major US financial market indices so that subscribers, when "plugged into" the
software, can find capital appreciation with a third party investment account.
The forecasting engines' objective is to provide accurate market intelligence
for the hedge fund industry. SubjexFMS is a software to which clients
subscribe.





Principal
Product Development and Resulting Services





On
Febuary 15th 2008 the Company launched version 3 of FMS which since this time
has performed up to managements expectations. During 2008, the Company licensed
the use of the underlying algorithms of Forecast Market Software to an
undisclosed hedge fund. Because of the private nature of the hedge fund, details
of the transaction cannot be disclosed, however the transaction is expected to
produce revenue to Subjex Corporation on a performance basis of FMS
results.





Trademarks
and Patents




The
Company’s policy is to hold trademarks and patent protection for its business
that management feels is necessary to protect the Company interests.





Environmental
Compliance




The
Company believes it is in compliance with all current federal and state
environmental laws.





7
 Index





Employees





The
Company currently has 1 full-time employee and a team of outside consultants and
contractors to fit the Company’s operational needs. The Company's employees are
not represented by any labor unions. The Company considers its relations
with its employees to be outstanding.





Competition




The
Company is aware of other companies selling solutions that appear to be similar
to the company however management is not aware of any companies that are selling
the same solutions as we have designed. Because of the percentage gains being
made by FMS v3.0, management feels that its FMS product is very competitive
from an operations performance viewpoint. However the Company recognized its
weaknesses in its marketing efforts of FMS to institutional entitys and is
addressing this issue with help from its finance marketing
advisors.




Recent
Developments





On July
16th 2008 the Company received the results of an audit performed by Maddox Ungar
Silberstein, PLLC. The audit confirmed that FMS performance results for the
six month period ending June 30, 2008 are in accordance with Global Investment
Performance Standards (“GIPS”) for the purpose of determining whether any
material modifications should be made to trading activity gain calculations in
order to conform to GIPS. The letter of audit confirmation was included in
the Company's recent 8-K report.





The
Company recently repositioned the FMS business from a software subscription to a
fund management model, which will direct the investment activities
of institutional investors. Subjex's FMS technology from January 1st to
October 31st 2008, produced gains totaling 33.6%; results that are providing
significant momentum for the Company's institutional initiatives. Although
FMS has a high degree of accuracy, anomalies such as unexpected world events
have long been


the bane
of quantitative systems and account for forecast inaccuracies of approximately
30%. However FMS v3.0 incorporates an intricate discipline of compensation
logic and portfolio percentage allocation for such events and as a result
appears to be one of the most stable low risk trading systems in
the industry.





This
basis of accounting contemplates the realization of assets and the satisfaction
of its liabilities and commitments in the normal course of operations.
Since inception, the Company has incurred losses of $6,936,524 and has a
working capital deficit of $273,978 as of September 30, 2008. The Company had a
working capital deficit and recurring net losses from operations in 2007
also. Despite
the net losses of past years operations, the funds spent have resulted in a
significant ownership and control of technology and infrastructure which
the company expects to generate considerable earnings in the future. The
FMS technology in managements view simply needed the proper marketing form
to attract large instutional funds to mirror its trades. There is no
further technology infrastructure investments necessary to grow the FMS
business. Today FMS is in its 12th quarter of operations and despite its
ups and downs maintains a remarkable 7% quarterly average return on funds since
inception. FMS is out-performing the vast majority of main-stream
investments, therefore, in managements view it is simply a matter of time before
substantial earnings will be made as a result.





8
 Index





The
Company decreased operating expenses to $115,160 for the three months
ended September 30, 2008 as compared to $629,034 for the three months
ended September 30, 2007. Operating expenses for the nine months ended
September 30, 2008 were $242,046, a reduction of $1,055,595 when compared to the
$1,297,641 of operating expenses for the nine months ended September 30,
2007.Operating
expenses decreased due to management decreasing its former marketing efforts of
its FMS product. The new marketing efforts focused on selling FMS to one
institutional aggregator as opposed to selling FMS to the general public.
Selling FMS to the general public required additional resources and core
competency which management believes should be left to others. This will allow
the Company to focus on its specific abilities and talents while giving the
marketing of FMS into someone with a preexisting presents in the market
place. The Company had $575 in revenues for the three months
ended September 30, 2008 as compared to $2,160 for the three months
ended September 30, 2007. Most of the revenue of $2,160 in the third
quarter of 2007 was generated from FMS fees. Revenue levels in the third quarter
of 2008 were not sufficient to sustain the Company's operations; therefore
funds were raised from the sale of common stock to the Company's investor base
to meet its financial needs.  The Company had $575 in revenues for the
nine months ended September 30, 2008 compared to $83,380 of revenue for the nine
months ended September 30, 2007.  The reductions in revenue were
caused by greatly reduced fee income during 2008 from FMS fees as compared to
2007.





The
Company continues to seek legitimate strategic partners for its other software
products such as SubjexCSR/AiNDEE.




Item3.  Quantitative and Qualitative
Disclosures About Market Risk




The
Company is subject to certain market risks, including changes in interest rates
and currency exchange rates. The Company does not undertake any specific actions to limit those
exposures.





Item4.  Controls and Procedures




Evaluation of Disclosure Controls and
Procedures




Based on their most recent review, as of the end of the
period covered by this report, the Company’s principal executive officer has
concluded that the Company’s disclosure controls and procedures are effective to
ensure that information required to be disclosed by the Company in the reports
that it files or submits under the Securities Exchange Act of 1934, as amended,
is accumulated and communicated to the Company’s management as appropriate to
allow timely decisions regarding required disclosure and are effective to ensure
that such information is recorded, processed, summarized and reported within the
time periods specified in the SEC’s rules and forms. There were no significant
changes in the Company’s internal controls or in other factors that could
significantly affect those controls subsequent to the date of their
evaluation.





ITEM4T. Controls and Procedures





Pursuant to Rule 13a-15(b) under the
Securities Exchange Act of 1934 ("Exchange Act"), the Company carried out an
evaluation, with the participation of the Company's management, including the
Company's Chief Executive Officer ("CEO")and Board of Directors of the
effectiveness of the Company's disclosure controls and procedures (as defined
under Rule 13a-15(e) under the Exchange Act) as of the end of the period covered
by this report. Based upon that evaluation, the Company's CEO and Board of
Directors concluded that the Company's disclosure controls and procedures are
effective to ensure that information required to be disclosed by the Company in
the reports that the Company files or submits under the Exchange Act, is
recorded, processed, summarized and reported, within the time periods specified
in the SEC's rules and forms, and that such information is accumulated and
communicated to the Company's management, including the Company's CEO and Board
of Directors as appropriate, to allow timely decisions regarding required
disclosure.





9
 Index





Management's
Report on Internal Controls over Financial Reporting





Internal
control over financial reporting is a process to provide reasonable assurance
regarding the reliability of consolidated financial reporting and
the preparation of financial statements for external purposes in accordance
with U.S. generally accepted accounting principles. There has been no change in
the Company's internal control over financial reporting during the quarter
ended September 30, 2008 that has materially affected, or is reasonably likely
to materially affect,


the
Company's internal control over financial reporting.





Our
management does not expect that our disclosure controls and internal controls
will prevent all error and all fraud. A control system, no matter how well
conceived and operated, can provide only reasonable, not absolute, assurance
that the objectives of the control system are met. Further, the design of a
control system must reflect the fact that there are resource constraints, and
the benefits of controls must be considered relative to their costs. Because of
the inherent


limitations
in all control systems, no evaluation of controls can provide absolute assurance
that all control issues and instances of fraud, if any, within the Company have
been detected. These inherent limitations include the realities that judgments
in decision-making can be faulty, and that breakdowns can occur because of
simple error or mistake. Additionally, controls can be circumvented by the
individual acts of some persons, by collusion of two or more people, or
by


management
or board override of the control. The design of any system of controls also is
based in part upon certain assumptions about the likelihood of future events,
and there can be no assurance that any design will succeed in achieving its
stated goals under all potential future conditions; over time, control may
become inadequate because of changes in conditions, or the degree of compliance
with the policies or procedures may deteriorate. Because of the
inherent


limitations
in a cost-effective control system, misstatements due to error or fraud may
occur and not be detected.





This
quarterly report does not include an attestation report of the Company's
registered public accounting firm regarding internal control over financial
reporting. Management's report was not subject to attestation by the Company's
registered public accounting firm pursuant to temporary rules of the Securities
and Exchange Commission that permit the Company to provide only management's
report in this quarterly report.








PART
II – OTHER INFORMATION





Item1.  Legal Proceedings




Currently
the Company is in litigation with Farsuperior Management LLC, Wayne Warrington
and Howard Walsh individually for breech of contract and other
issues.  The Company believes its exposure in the litigation is minor
because of the strength of its case and intends to vigorously defend itself from
the claims made by the apposing parties, while also vigorously pursuing its
damage claims against the opposing parties.





There
were no other legal proceedings pending or, to the Company's knowledge, that
would be material to the financial position of the Company.





10
 Index





Item2.  Unregistered Sales of Equity
Securities and Use of Proceeds.




None.




Item3.  Defaults on Senior Securities




None.




Item4.  Submission of Matters to a Vote of Security
Holders




The
Company has no intention to pursue a sale of assets or any substantial
restructuring. It is acknowledged that any sale or substantial restructuring of
the Company will require a stockholders vote. No matters were submitted to the
vote of the Company’s stockholders in this quarter.




Item5. Other Information




None.




Item6.  Exhibits and reports on form 8-K




On July
16, 2008 an event occurred which was not made in the ordinary course of Subjex
Corporation business thus prompting an 8k filing with the SEC.





The
Company received verification of the SubjexFMS system performance results for
the period January 1, 2008 to June 30, 2008 in accordance with Global Investment
Performance Standards (“GIPS”) for the purpose of determining whether any
material modifications should be made to our trading activity gain calculations
in order for it to conform with GIPS.  The letter of audit
confirmation was included in the 8-K report.




11
 Index




SIGNATURES





Pursuant
to the requirements of Section 13 or 15(d) of the Securities and Exchange Act of
1934, the Issuer has duly caused this report to be signed on its behalf by the
undersigned officers and/or Directors, there unto duly authorized.





Subjex
      CorporationDate:  November
      7, 2008NAME
              TITLE/s/
      Andrew D. Hyder
              President
      and Chief Executive Officer






12