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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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|         |    |  SUBJEX CORPORATION INDEX                                                                        |   Page Number |
|--------------|---------|-------------------------------------------------------------------------------------------------------|-------------------------|
|         |    |                                                                                                  |                    |
| PART I       |    | FINANCIAL INFORMATION                                                                                 |                    |
|         |    |                                                                                                  |                    |
|         | ITEM 1  | FINANCIAL STATEMENTS                                                                                  |                    |
|         |    |                                                                                                  |                    |
|         |    | Balance Sheets as of June 30, 2010 (unaudited)  and December 31, 2009 (audited)        |                    |
|         |    |                                                                                             |                    |
|         |    | Statements of Operations for the three months and six months ended June 30, 2010 and 2009 (unaudited) |                    |
|         |    |                                                                                             |                    |
|         |    | Statements of Cash Flows for the six months ended June 30, 2010 and 2009 (unaudited)                  |                    |
|         |    |                                                                                                  |                    |
|         |    | Notes to the Financial Statements                                                                     |                    |
|         |    |                                                                                                  |                    |
|         | ITEM 2  | MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL                                               |                    |
|         |    |                                                                                                  |                    |
|         |    | CONDITION AND RESULTS OF OPERATIONS                                                                   |                    |
|         |    |                                                                                                  |                    |
|         | ITEM 3  | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKETRISK                                        |                    |
|         |    |                                                                                                  |                    |
|         | ITEM 4  | CONTROLS AND PROCEDURES                                                                               |                    |
|         |    |                                                                                                  |                    |
|         | ITEM 4T | CONTROLS AND PROCEDURES                                                                               |                    |
|         |    |                                                                                                  |                    |
| PART II      |    | OTHER INFORMATION                                                                                     |                    |
|         |    |                                                                                                  |                    |
|         | 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                                                                                        |                    |
|         |    |                                                                                                  |                    |
|         |    | SIGNATURES                                                                                            |                    |
|         |    |                                                                                                  |                    |
|    |    |

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|                                                                                                                                                                |   |        |       |   |         |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------|------------|--------|--------------|--------|
| SUBJEX CORPORATION                                                                                                                                                  |   |
| BALANCE SHEETS                                                                                                                                                      |   |
|                                                                                                                                                                |   | (Unaudited) |       |   | (Audited)    |   |
|                                                                                                                                                                |   |        |       |   |         |   |
|                                                                                                                                                                |   | June 30,    |       |   | December 31, |   |
|                                                                                                                                                                |   | 2010        |       |   | 2009         |   |
|                                                                                                                                                                |   |        |       |   |         |   |
|                            ASSETS |   |        |       |   |         |   |
| Current Assets:                                                                                                                                                     |   |        |       |   |         |   |
| Cash                                                                                                                                                                |   | $           | 1          |   |         | $      | 147 |   |
|                                                                                                                                                                |   |        |       |   |         |   |   |   |
|         Total current assets                                                                                                |   |        | 1          |   |         |   | 147 |   |
|                                                                                                                                                                |   |        |       |   |         |   |   |   |
|         Total assets                                                                                                        |   | $           | 1          |   |         | $      | 147 |   |
|                                                                                                                                                                |   |        |       |   |         |   |   |   |
|                                                                                                                                                                |   |        |       |   |         |   |   |   |
| LIABILITIES AND STOCKHOLDERS' DEFICIT                                                                                                                               |   |        |       |   |         |   |   |   |
|                                                                                                                                                                |   |        |       |   |         |   |   |   |
| Current Liabilities:                                                                                                                                                |   |        |       |   |         |   |   |   |
| Short-term notes payable                                                                                                                                            |   | $           | 17,677     |   |         | $      | 17,677 |   |
| Subordinated convertible notes payable                                                                                                                              |   |        | 23,000     |   |         |   | 23,000 |   |
|  Accounts payable                                                                                                                                              |   |        | 207,363    |   |         |   | 224,017 |   |
| Accrued expenses:                                                                                                                                                   |   |        |       |   |         |   |   |   |
|         Accrued expenses-Related party                                                                                      |   |        | 47,070     |   |         |   | 629,903 |   |
|         Payroll and payroll taxes                                                                                           |   |        | 18,266     |   |         |   | 18,266 |   |
|         Accrued interest                                                                                                    |   |        | 28,723     |   |         |   | 27,589 |   |
|         Accrued expenses                                                                                                    |   |        | 4,207      |   |         |   | 4,207 |   |
|                                                                                                                                                                |   |        |       |   |         |   |   |   |
|          Total current liabilities                                                                                          |   |        | 346,305    |   |         |   | 944,659 |   |
|                                                                                                                                                                |   |        |       |   |         |   |   |   |
|         Total liabilities                                                                                                   |   |        | 346,305    |   |         |   | 944,659 |   |
|                                                                                                                                                                |   |        |       |   |         |   |   |   |
| Stockholders' Deficit:                                                                                                                                              |   |        |       |   |         |   |   |   |
| Common stock, no par or stated value;                                                                                                                               |   |        |       |   |         |   |   |   |
|         200,000,000 shares authorized: 139,806,887 and                                                                      |   |        |       |   |         |   |   |   |
|         99,903,131 shares issued and outstanding at                                                                         |   |        |       |   |         |   |   |   |
|         June 30, 2010 and December 31, 2009, respectively                                                                   |   |        | 6,902,423  |   |         |   | 6,215,609 |   |
| Subscriptions received                                                                                                                                              |   |        | 3,500      |   |         |   | - |   |
| Accumulated deficit                                                                                                                                                 |   |        | (7,252,227 | )      |         |   | (7,160,121 | ) |
|                                                                                                                                                                |   |        |       |   |         |   |   |   |
| Total stockholders' Deficit                                                                                                                                         |   |        | (346,304   | )      |         |   | (944,512 | ) |
|                                                                                                                                                                |   |        |       |   |         |   |   |   |
|                                                                                                                                                                |   |        |       |   |         |   |   |   |
| Total liabilities and stockholders’ deficit                                                                                                                   |   | $           | 1          |   |         | $      | 147 |   |
|                                                                                                                                                                |   |        |       |   |         |   |   |   |
|                                                                                                                                                                |   |        |       |   |         |   |   |   |
| The accompanying notes are an integral part of these financial statements.                                                                                          |   |        |       |   |         |
|                                                                                                                                                                |   |        |       |   |         |   |   |   |
|                                                                                                                                                                |   |        |       |   |         |   |   |   |
|                                                                                                                                                                |   |        |       |   |         |   |   |   |

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| SUBJEX CORPORATION                                                         |   |
|----------------------------------------------------------------------------|--------|
| STATEMENTS OF OPERATIONS                                                   |   |
| (Unaudited)                                                                |   |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       |   |   | Three Months Ended June 30, |   |   | Six Months Ended June 30, |   |
|                                                                       |   |   | 2010 |   |   | 2009 |   |   | 2010 |   |   | 2009 |   |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Revenues:                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Gross revenue                                      |   |   | $ |   |   |   | $ | 3,492 |   |   | $ | 49 |   |   | $ | 8,025 |   |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Expenses:                                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Selling, general and administrative                |   |   |   |  81,099 |   |   |   | 25,629 |   |   |   | 91,021 |   |   |   | 113,106 |   |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Total operating expense                            |   |   |   |  81,099 |   |   |   | 25,629 |   |   |   | 91,021 |   |   |   | 25,629 |   |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Operating loss                                     |   |   |   |  (81,099 | ) |   |   | (22,137 | ) |   |   | (90,972 | ) |   |   | (105,081 | ) |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other income (expense):                                                    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Interest expense                                   |   |   |   |  (567 | ) |   |   | (1,077 | ) |   |   | (1,134 | ) |   |   | (1,821 | ) |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                                   |   |   | $ | (81,666 | ) |   | $ | (23,214 | ) |   | $ | (92,106 | ) |   | $ | (106,902 | ) |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss per basic and diluted common share                                |   | $ | (0.0006 | ) |   | $ | (0.001 | ) |   | $ | (0.001 | ) |   | $ | (0.001 | ) |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     outstanding - basic and diluted                    |   |   |   | 139,806,887 |   |   |   | 99,451,047 |   |   |   | 139,806,887 |   |   |   | 99,451,047 |   |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| The accompanying notes are an integral part of these financial statements. |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

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| SUBJEX CORPORATION                                                                               |   |
|--------------------------------------------------------------------------------------------------|--------|
| STATEMENTS OF CASH FLOWS                                                                         |   |
| (Unaudited)                                                                                      |   |
|                                                                                             |   | Six Months Ended June 30, |   |
|                                                                                             |   | 2010 |   |   | 2009 |   |
|                                                                                             |   |   |   |   |   |   |
|                                                                                             |   |   |   |   |   |   |
| Cash flows from operating activities:                                                            |   |   |   |   |   |   |
|        Net loss                                               |   | $ | (92,106 | ) |   | $ | (106,902 | ) |
|         Adjustments to reconcile net loss to             |   |   |   |   |   |   |   |   |
|        net cash flows from operating activities:              |   |   |   |   |   |   |   |   |
|        Non cash common stock issued for consulting services   |   |   | 65,000 |   |   |   | 43,000 |   |
|        Non cash common stock issued to settle other liability |   |   | 581,814 |   |   |   | 5,250 |   |
|        Changes in operating assets and liabilities:           |   |   |   |   |   |   |   |   |
|      Accounts receivable                                                |   |   | - |   |   |   | 3,010 |   |
|      Accounts payable                                                   |   |   | (16,654 | ) |   |   | 18,764 |   |
|         Accrued expenses                                 |   |   | - |   |   |   | 259 |   |
|   Accrued expenses-Related party                                                            |   |   | (582,834 | ) |   |   | 362,706 |   |
|       Payroll and payroll taxes payable                                 |   |   | - |   |   |   | (20,378 | ) |
|  Other liability                                                                            |   |   | - |   |   |   | (1,500 | ) |
|  Accrued interest                                                                           |   |   | 1,134 |   |   |   | 1,134 |   |
|                                                                                             |   |   |   |   |   |   |   |   |
| Net cash flows used in operating activities                                                      |   |   | (43,646 | ) |   |   | 305,344 |   |
|                                                                                             |   |   |   |   |   |   |   |   |
|                                                                                             |   |   |   |   |   |   |   |   |
| Cash flows from financing activities:                                                            |   |   |   |   |   |   |   |   |
|        Proceeds from issuance of common stock                 |   |   | 40,000 |   |   |   | 52,650 |   |
|           Subscriptions received                    |   |   | 3,500 |   |   |   | 12,500 |   |
|         Shares retired-Related party                          |   |   | - |   |   |   | (372,025 | ) |
|                                                                                             |   |   |   |   |   |   |   |   |
| Net cash flows provided by financing activities                                                  |   |   | 43,500 |   |   |   | (306,875 | ) |
|                                                                                             |   |   |   |   |   |   |   |   |
|                                                                                             |   |   |   |   |   |   |   |   |
| Net increase (decrease) in cash and equivalents                                                  |   |   | (146 | ) |   |   | (1,531 | ) |
| Cash and cash equivalents at beginning of period                                                 |   |   | 147 |   |   |   | 1,546 |   |
|                                                                                             |   |   |   |   |   |   |   |   |
| Cash and cash equivalents at end of period                                                       |   | $ | 1 |   |   | $ | 15 |   |
|                                                                                             |   |   |   |   |   |   |   |   |
|                                                                                             |   |   |   |   |   |   |   |   |
| The accompanying notes are an integral part of these financial statements.                       |   |   |   |   |   |
|                                                                                             |   |   |   |   |   |   |   |   |

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