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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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|  PART I  FINANCIAL INFORMATION    |  Page Number |
|---------------------------------------------|-------------------|
|                                        |              |   |   |
|                                        |  ITEM 1.     |  FINANCIAL STATEMENTS |   |
|                                        |              |   |   |
|                                        |              |  Balance Sheets as of September 30, 2010 (unaudited and unreviewed) and December 31, 2009 (audited)    |  4 |
|                                        |              |   |   |
|                                        |              |  Statements of Operations for the three months and nine months ended September 30, 2010 and 2009 (unaudited and unreviewed)    |  5 |
|                                        |              |   |   |
|                                        |              |  Statements of Cash Flows for the nine months ended September 30, 2010 and 2009 (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 Acto of 2002 |   |
|                                        |              |   |   |
|                                        |              |  Certifications signatures | 13  |

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|                                                                                             |   |          |       |   |         |   |
|--------------------------------------------------------------------------------------------------|--------|---------------|------------|--------|--------------|--------|
| SUBJEX CORPORATION                                                                               |   |
| BALANCE SHEETS                                                                                   |   |
|                                                                                             |   | (Unaudited)   |       |   | (Audited)    |   |
|                                                                                             |   | (Unreviewed)  |       |   |         |   |
|                                                                                             |   | September 30, |       |   | December 31, |   |
|                                                                                             | 2010   |          |       | 2009   |         |
|                                                                                             |   |          |       |   |         |   |
| ASSETS                                                                                           |   |          |       |   |         |   |
| Current Assets:                                                                                  |   |          |       |   |         |   |
| Cash                                                                                             |   | $             | -          |   |         | $      | 147 |   |
|                                                                                             |   |          |       |   |         |   |   |   |
| Total current assets                                                                             |   |          | -          |   |         |   | 147 |   |
|                                                                                             |   |          |       |   |         |   |   |   |
| Total assets                                                                                     |   | $             | -          |   |         | $      | 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                                                         |   |          | 205,908    |   |         |   | 224,017 |   |
|     Accrued expenses:                                                        |   |          |       |   |         |   |   |   |
|        Accrued expenses-Related party                         |   |          | 46,976     |   |         |   | 629,903 |   |
|        Payroll and payroll taxes                              |   |          | 18,266     |   |         |   | 18,266 |   |
|        Accrued interest                                       |   |          | 29,290     |   |         |   | 27,589 |   |
|        Accrued expenses                                       |   |          | 4,207      |   |         |   | 4,207 |   |
|                                                                                             |   |          |       |   |         |   |   |   |
|     Total current liabilities                                                |   |          | 345,324    |   |         |   | 944,659 |   |
|                                                                                             |   |          |       |   |         |   |   |   |
| Total liabilities                                                                                |   |          | 345,324    |   |         |   | 944,659 |   |
|                                                                                             |   |          |       |   |         |   |   |   |
| Stockholders' Deficit:                                                                           |   |          |       |   |         |   |   |   |
|     Common stock, no par or stated value;                                    |   |          |       |   |         |   |   |   |
|        200,000,000 shares authorized: 140,806,887 and         |   |          |       |   |         |   |   |   |
|        99,903,131 shares issued and outstanding at            |   |          |       |   |         |   |   |   |
|        September 30, 2010 and December 31, 2009, respectively |   |          | 6,905,923  |   |         |   | 6,215,609 |   |
|     Subscriptions received                                                   |   |          | 14,000     |   |         |   | - |   |
|     Accumulated deficit                                                      |   |          | (7,265,246 | )      |         |   | (7,160,121 | ) |
|                                                                                             |   |          |       |   |         |   |   |   |
| Total stockholders' Deficit                                                                      |   |          | (345,324   | )      |         |   | (944,512 | ) |
|                                                                                             |   |          |       |   |         |   |   |   |
|                                                                                             |   |          |       |   |         |   |   |   |
|     Total liabilities and stockholders’ deficit                        |   | $             | 0          |   |         | $      | 147 |   |
|                                                                                             |   |          |       |   |         |   |   |   |
|                                                                                             |   |          |       |   |         |   |   |   |
| The accompanying notes are an integral part of these financial statements.                       |   |          |       |   |         |
|                                                                                             |   |          |       |   |         |   |   |   |
|                                                                                             |   |          |       |   |         |   |   |   |
|                                                                                             |   |          |       |   |         |   |   |   |

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| SUBJEX CORPORATION                                                         |                                            |
|----------------------------------------------------------------------------|-------------------------------------------------|
| STATEMENTS OF OPERATIONS                                                   |                                            |
| (Unaudited and Unreviewed)                                                 |                                            |
|                                                                       |                                            |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       |                                            | Three Months Ended September 30, |   |   | Nine Months Ended September 30, |   |
|                                                                       |                                            |   |   2010 |   |   |  2009 |   |   | 2010 |   |   | 2009 |   |
|                                                                       |                                            |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       |                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| Revenues:                                                                  |                                            |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       | Gross revenue                                   |   | $ | - |   |   | $ | 3,000 |   |   | $ | 49 |   |   | $ | 11,025 |   |
|                                                                       |                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Expenses:                                                                  |                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       | Selling, general and administrative             |   |   | 12,453 |   |   |   | 15,369 |   |   |   | 103,474 |   |   |   | 128,473 |   |
|                                                                       |                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       |     Total operating expense |   |   | 12,453 |   |   |   | 15,369 |   |   |   | 103,474 |   |   |   | 25,629 |   |
|                                                                       |                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       |     Operating loss          |   |   | (12,453 | ) |   |   | (12,369 | ) |   |   | (103,425 | ) |   |   | (117,448 | ) |
|                                                                       |                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other income (expense):                                                    |                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       |                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       | Interest expense                                |   |   | (567 | ) |   |   | (567 | ) |   |   | (1,701 | ) |   |   | (2,389 | ) |
|                                                                       |                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                                   |                                            |   | $ | (13,020 | ) |   |  $ | (12,936 | ) |   | $ | (105,126 | ) |   | $ | (119,837 | ) |
|                                                                       |                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss per basic and diluted common share                                |                                            | $ | (0.0001 | ) |   |  $ | (0.001 | ) |   | $ | (0.0007 | ) |   | $ | (0.001 | ) |
|                                                                       |                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       |                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average common shares                                             |                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       | outstanding - basic and diluted                 |   |   | 140,806,887 |   |   |   | 99,574,566 |   |   |   | 140,806,887 |   |   |   | 99,574,566 |   |
|                                                                       |                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       |                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| The accompanying notes are an integral part of these financial statements. |                                            |
|                                                                       |                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                       |                                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

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| SUBJEX CORPORATION                                                         |   |
|----------------------------------------------------------------------------|--------|
| STATEMENTS OF CASH FLOWS                                                   |   |
| (Unaudited and Unreviewed)                                                 |   |
|                                                                       |   | Nine Months Ended September 30, |   |
|                                                                       |   | 2010 |   |   | 2009 |   |
|                                                                       |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |
| Cash flows from operating activities:                                      |   |   |   |   |   |   |
| Net loss                                                                   |   | $ | (105,126 | ) |   | $ | (119,837 | ) |
| Adjustments to reconcile net loss to                                       |   |   |   |   |   |   |   |   |
|  net cash flows from operating activities:                            |   |   |   |   |   |   |   |   |
|  Non cash common stock issued for consulting services                 |   |   | 65,000 |   |   |   | (44,000 | ) |
|  Non cash common stock issued to settle other liability               |   |   | 581,814 |   |   |   | - |   |
|  Changes in operating assets and liabilities:                         |   |   |   |   |   |   |   |   |
|  Accounts receivable                                                  |   |   | - |   |   |   | 3,010 |   |
|  Accounts payable                                                     |   |   | (18,109 | ) |   |   | 22,200 |   |
|  Accrued expenses                                                     |   |   | - |   |   |   | (1,241 | ) |
| Accrued expenses-Related party                                             |   |   | (582,927 | ) |   |   | 415,858 |   |
|  Payroll and payroll taxes payable                                    |   |   | - |   |   |   | (20,443 | ) |
| Accrued interest                                                           |   |   | 1,701 |   |   |   | 1,701 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Net cash flows used in operating activities                                |   |   | (57,647 | ) |   |   | 257,248 |   |
|                                                                       |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Cash flows from financing activities:                                      |   |   |   |   |   |   |   |   |
|  Proceeds from issuance of common stock                               |   |   | 43,500 |   |   |   | (258,788 | ) |
|  Subscriptions received                                               |   |   | 14,000 |   |   |   | - |   |
| Shares retired-Related party                                               |   |   | - |   |   |   | - |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Net cash flows provided by financing activities                            |   |   | 57,500 |   |   |   | (258,788 | ) |
|                                                                       |   |   |   |   |   |   |   |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Net increase (decrease) in cash and equivalents                            |   |   | (147 | ) |   |   | (1,540 | ) |
| Cash and cash equivalents at beginning of period                           |   |   | 147 |   |   |   | 1,546 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Cash and cash equivalents at end of period                                 |   | $ | - |   |   | $ | 7 |   |
|                                                                       |   |   |   |   |   |   |   |   |
| Supplemental cash flow information:                                        |   |   |   |   |   |   |   |   |
| Cash paid for interest                                                     |   | $ | - |   |   | $ | - |   |
| Cash paid for income taxes                                                 |   | $ | - |   |   | $ | - |   |
|                                                                       |   |   |   |   |   |   |   |   |
| The accompanying notes are an integral part of these financial statements. |   |

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