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| Minnesota(State or other jurisdiction of incorporation or organization)                    | 41-1596056(IRS Employer Identification No.) |
|--------------------------------------------------------------------------------------------|---------------------------------------------|
| 3240 Aldrich Ave S Suite 301, Minneapolis MN(Address of Principal Executive Offices)  | 55408(Zip Code)                             |

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|          |                |                                                                                                   | Page Number    |
|---------------|---------------------|--------------------------------------------------------------------------------------------------------|----------------|
|          |                |                                                                                                   |           |
| PART I        |                | FINANCIAL INFORMATION                                                                                  |           |
|          |                |                                                                                                   |           |
|          | ITEM 1.             | FINANCIAL STATEMENTS                                                                                   |           |
|          |                |                                                                                                   |           |
|          |                | Balance Sheets as of March 31, 2011 (unaudited and unreviewed) and December 31, 2010 (unaudited)       | 4              |
|          |                |                                                                                                   |           |
|          |                | Statements of Operations for the three months ended March 31, 2011 and 2010 (unaudited and unreviewed) | 5              |
|          |                |                                                                                                   |           |
|          |                | Statements of Cash Flows for the three months ended March 31, 2011 and 2010 (unaudited and unreviewed) | 6              |
|          |                |                                                                                                   |           |
|          |                | Notes to the Financial Statements                                                                      | 7              |
|          |                |                                                                                                   |           |
|          | ITEM 2.             | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS       | 8              |
|          |                |                                                                                                   |           |
|          | ITEM 3.             | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK                                   | 9              |
|          |                |                                                                                                   |           |
|          | ITEM 4.             | CONTROLS AND PROCEDURES                                                                      | 10             |
|          |                |                                                                                                   |           |
|          | ITEM 4T.            | CONTROLS AND PROCEDURES                                                                           |   10 |
|          |                |                                                                                                   |           |
|  PART II |                |  OTHER INFORMATION                                                                      |  10       |
|          |                |                                                                                                   |           |
|          |  ITEM 1.       |  LEGAL PROCEEDINGS                                                                                |           |
|          |                |                                                                                                   |           |
|          |  ITEM 2.       |  CHANGE IN SECURITIES AND USE OF PROCEEDS                                                         |           |
|          |                |                                                                                                   |           |
|          |  ITEM 3.       |  DEFAULTS UPON SENIOR SECURITIES                                                                  |           |
|          |                |                                                                                                   |           |
|          |  ITEM 4.       |  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS                                              |           |
|          |                |                                                                                                   |           |
|          |  ITEM 5.       |  OTHER INFORMATION                                                                                |           |
|          |                |                                                                                                   |           |
|          |  ITEM 6.  |  EXHIBITS AND REPORTS ON FORM 8-K                                                                 |           |
|          |                |                                                                                                   |           |
|          |                |  CERTIFICATION PURSUANT TO SECTION 06 OF THE SARBANES-OXLEY ACT OF 2002                           |           |
|          |                |                                                                                                   |           |
|          |                |  CERTIFICATIONS                                                                              |  13  |
|          |                |                                                                                                   |           |
|          |                |                                                                                                   |           |

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| SUBJEX CORPORATION                                                         |   |
|----------------------------------------------------------------------------|--------|
| BALANCE SHEETS                                                             |   |
|                                                                       |   | (Unreviewed) |   |   | (Unaudited) |   |
|                                                                       |   |   |   |   |   |   |
|                                                                       |   | March 31, |   |   | December 31, |   |
|                                                                       |   | 2011 |   |   | 2010 |   |
|                                                                       |   |   |   |   |   |   |
| ASSETS                                                                     |   |   |   |   |   |   |
| Current Assets:                                                            |   |   |   |   |   |   |
| Cash                                                                       |   | $ | - |   |   | $ | - |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Total current assets                                                       |   |   | - |   |   |   | - |   |
| Other Assets:                                                              |   |   |   |   |   |   |   |   |
| Trademarks                                                                 |   |   | 494 |   |   |   | - |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Total assets                                                               |   | $ | 494 |   |   | $ | - |   |
|                                                                       |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |
| LIABILITIES AND STOCKHOLDERS' DEFICIT                                      |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Current Liabilities:                                                       |   |   |   |   |   |   |   |   |
| Short-term notes payable                                                   |   | $ | 17,677 |   |   | $ | 17,677 |   |
| Subordinated convertible notes payable                                     |   |   | 23,000 |   |   |   | 23,000 |   |
| Accounts payable                                                           |   |   | 220,911 |   |   |   | 223,297 |   |
| Accrued expenses:                                                          |   |   |   |   |   |   |   |   |
| Accrued expenses-Related party                                             |   |   | 47,927 |   |   |   | 50,461 |   |
| Payroll and payroll taxes                                                  |   |   | 18,166 |   |   |   | 18,266 |   |
| Accrued interest                                                           |   |   | 30,424 |   |   |   | 29,857 |   |
| Accrued expenses                                                           |   |   | 4,207 |   |   |   | 4,207 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Total current liabilities                                                  |   |   | 362,312 |   |   |   | 366,764 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Total liabilities                                                          |   |   | 361,818 |   |   |   | 366,764 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Stockholders' Deficit:                                                     |   |   |   |   |   |   |   |   |
| Common stock, no par or stated value;                                      |   |   |   |   |   |   |   |   |
| 200,000,000 shares authorized: 167,445,887 and                             |   |   |   |   |   |   |   |   |
| 140,806,887 shares issued and outstanding at                               |   |   |   |   |   |   |   |   |
| March 31, 2011 and December 31, 2010, respectively                         |   |   | 6,985,019 |   |   |   | 6,905,923 |   |
| Subscriptions received                                                     |   |   | 10,000 |   |   |   | 24,500 |   |
| Accumulated deficit                                                        |   |   | (7,356,836 |   |   |   | (7,297,187 | ) |
|                                                                       |   |   |   |   |   |   |   |   |
| Total stockholders' Deficit                                                |   |   | (361,818 |   |   |   | (366,764 | ) |
|                                                                       |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Total liabilities and stockholders’ deficit                          |   | $ | - |   |   | $ | 0 |   |
|                                                                       |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |
| The accompanying notes are an integral part of these financial statements. |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |

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| SUBJEX CORPORATION                                                         |                              |
|----------------------------------------------------------------------------|-----------------------------------|
| STATEMENTS OF OPERATIONS                                                   |                              |
| (Unreviewed)                                                               |                              |
|                                                                       |                              |   |   |   |   |   |
|                                                                       | Three Months Ended March 31, |   |
|                                                                       |                              | 2011 |   |   | 2010 |   |
|                                                                       |                              |   |   |   |   |   |
|                                                                       |                              |   |   |   |   |   |
| Revenues:                                                                  |                              |   |   |   |   |   |
| Gross revenue                                                              |                              | $ | 1,500 |   |   | $ | 49 |   |
|                                                                       |                              |   |   |   |   |   |   |   |
| Expenses:                                                                  |                              |   |   |   |   |   |   |   |
| Selling, general and administrative                                        |                              |   | 60,583 |   |   |   | 9,922 |   |
|                                                                       |                              |   |   |   |   |   |   |   |
| Total operating expense                                                    |                              |   | 60,583 |   |   |   | 9,922 |   |
|                                                                       |                              |   |   |   |   |   |   |   |
| Operating loss                                                             |                              |   | (59,083 | ) |   |   | (9,873 | ) |
|                                                                       |                              |   |   |   |   |   |   |   |
| Other income (expense):                                                    |                              |   |   |   |   |   |   |   |
|                                                                       |                              |   |   |   |   |   |   |   |
| Interest expense                                                           |                              |   | (567 | ) |   |   | (567 | ) |
|                                                                       |                              |   |   |   |   |   |   |   |
| Net loss                                                                   |                              | $ | (59,650 | ) |   | $ | (10,440 | ) |
|                                                                       |                              |   |   |   |   |   |   |   |
| Net loss per basic and diluted common share                                |                              | $ | (0.0004 | ) |   | $ | (0.001 | ) |
|                                                                       |                              |   |   |   |   |   |   |   |
|                                                                       |                              |   |   |   |   |   |   |   |
| Weighted average common shares                                             |                              |   |   |   |   |   |   |   |
| outstanding - basic and diluted                                            |                              |   | 146,303,591 |   |   |   | 99,903,131 |   |
|                                                                       |                              |   |   |   |   |   |   |   |
|                                                                       |                              |   |   |   |   |   |   |   |
| The accompanying notes are an integral part of these financial statements. |                              |
|                                                                       |                              |   |   |   |   |   |   |   |

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| SUBJEX CORPORATION                                                               |   |
|----------------------------------------------------------------------------------|--------|
| STATEMENTS OF CASH FLOWS                                                         |   |
| (Unaudited)                                                                      |   |
|                                                                             |   | Three Months Ended March 31, |   |
|                                                                             |   | 2011 |   |   | 2010 |   |
|                                                                             |   |   |   |   |   |   |
|                                                                             |   |   |   |   |   |   |
| Cash flows from operating activities:                                            |   |   |   |   |   |   |
| Net loss                                                                         |   | $ | (59,650 | ) |   | $ | (10,440 | ) |
| Adjustments to reconcile net loss to                                             |   |   |   |   |   |   |   |   |
| net cash flows from operating activities:                                        |   |   |   |   |   |   |   |   |
| Non cash common stock issued for consulting services                             |   |   | 34,596 |   |   |   | - |   |
| Non cash common stock issued to settle other liability                           |   |   | 2,500 |   |   |   | - |   |
| Changes in operating assets and liabilities:                                     |   |   |   |   |   |   |   |   |
| Accounts payable                                                                 |   |   | (2,386 | ) |   |   | 3,205 |   |
| Accrued expenses-Related party                                                   |   |   | (2,533 | ) |   |   | (2,433 | ) |
| Payroll and payroll taxes payable                                                |   |   | (100 | ) |   |   | - |   |
| Accrued interest                                                                 |   |   | 567 |   |   |   | 567 |   |
|                                                                             |   |   |   |   |   |   |   |   |
| Net cash flows used in operating activities                                      |   |   | (27,006 | ) |   |   | (9,101 | ) |
|                                                                             |   |   |   |   |   |   |   |   |
|                                                                             |   |   |   |   |   |   |   |   |
| Cash flows from investing activities:                                            |   |   |   |   |   |   |   |   |
| Trademarks                                                                       |   |   | (494 | ) |   |   | - |   |
|                                                                             |   |   |   |   |   |   |   |   |
| Net cash flows used in investing activities                                      |   |   | (494 | ) |   |   | - |   |
|                                                                             |   |   |   |   |   |   |   |   |
| Cash flows from financing activities:                                            |   |   |   |   |   |   |   |   |
| Proceeds from issuance of common stock                                           |   |   | 17,500 |   |   |   | - |   |
| Subscriptions received                                                           |   |   | 10,000 |   |   |   | 9,000 |   |
|                                                                             |   |   |   |   |   |   |   |   |
| Net cash flows provided by financing activities                                  |   |   | 27,500 |   |   |   | 9,000 |   |
|                                                                             |   |   |   |   |   |   |   |   |
|                                                                             |   |   |   |   |   |   |   |   |
| Net increase (decrease) in cash and equivalents                                  |   |   | (0 | ) |   |   | (101 | ) |
| Cash and cash equivalents at beginning of period                                 |   |   | - |   |   |   | 147 |   |
|                                                                             |   |   |   |   |   |   |   |   |
| Cash and cash equivalents at end of period                                       |   | $ | (0 | ) |   | $ | 46 |   |
|                                                                             |   |   |   |   |   |   |   |   |
|                                                                             |   |   |   |   |   |   |   |   |
|  The accompanying notes are an integral part of these financial statements. |   |   |   |   |   |   |   |   |
|                                                                             |   |   |   |   |   |   |   |   |
|                                                                             |   |   |   |   |   |   |   |   |

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