----

----

| [X] | QUARTERLY      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|-----|---------------------------------------------------------------------------------------------------|

| [  ] | TRANSITION      REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|----------------|----------------------------------------------------------------------------------------------------|

|                                                                |                            |
|---------------------------------------------------------------------|---------------------------------|
| Delaware                                                            | 87-0502701                      |
| (State      or other jurisdiction of incorporation or organization) | (I.R.S.      Employer I.D. No.) |
|                                                                |                            |
|                                                                |                            |
| 8 Corporate Park,      Suite 300, Irvine, California                | 92606                           |
| (Address      of principal executive offices)                       | (Zip      Code)                 |

|                     |                                           |
|--------------------------|------------------------------------------------|
| Title      of each class | Name      of each exchange on which registered |
| None                     | N/A                                            |

| Large      accelerated filer o | Accelerated      filer o              |
|--------------------------------|---------------------------------------|
| Non-accelerated      filer o   | Smaller      reporting company ý |

----

----

----

| PART      I   | FINANCIAL      INFORMATION                                                                      |           |
|---------------|-------------------------------------------------------------------------------------------------|----------------|
|          |                                                                                            |           |
| ITEM      1.  | FINANCIAL      STATEMENTS                                                                       |        3  |
| ITEM      2   | MANAGEMENT'S      DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF      OPERATIONS |        18 |
| ITEM      3.  | QUANTITATIVE      AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK                                 |        20 |
| ITEM      4.  | CONTROLS      AND PROCEDURES                                                                    |        20 |
| ITEM      4T. | CONTROLS      AND PROCEDURES                                                                    |        20 |
|          |                                                                                            |           |
| PART      II  | OTHER      INFORMATION                                                                          |        20 |
|          |                                                                                            |           |
| ITEM      1.  | LEGAL      PROCEEDINGS                                                                          |           |
| ITEM      1A. | RISK      FACTORS                                                                               |        20 |
| ITEM      2.  | UNREGISTERED      SALES OF EQUITY SECURITIES AND USE OF PROCEEDS                                |        20 |
| ITEM      3.  | DEFAULT      UPON SENIOR SECURITIES                                                             |        20 |
| ITEM      4.  | SUBMISSION      OF MATTERS TO A VOTE OF SECURITY HOLDERS                                        |        20 |
| ITEM      5.  | OTHER      INFORMATION                                                                          |        20 |
| ITEM      6.  | EXHIBITS                                                                                        |        20 |
|          |                                                                                            |           |
| SIGNATURES    |                                                                                            |        21 |

----

| LEXON      TECHNOLOGIES, INC. AND SUBSIDIARIES |
|------------------------------------------------|
| (A      Development Stage Company)             |
| Consolidated      Balance Sheets               |
| March      31, 2008 and 2007                   |
| (Unaudited)                                    |

| ASSETS                                           |   |
|--------------------------------------------------|--------|
|                                             |   |   |   |   |   |   |
|                                             |   |   |   |   |   |   |
|                                             |   | 2008 |   |   | 2007 |   |
| CURRENT      ASSETS                              |   |   |   |   |   |   |
| Cash      and cash equivalents (Note 2)          |   | $ | 4,771 |   |   | $ | 288,300 |   |
|                                             |   |   |   |   |   |   |   |   |
| PROPERTY      AND EQUIPMENT, net (Notes 2 and 3) |   |   | 1,135 |   |   |   | - |   |
|                                             |   |   |   |   |   |   |   |   |
| OTHER      ASSETS                                |   |   |   |   |   |   |   |   |
| Investments      (Note 4)                        |   |   | 98,624 |   |   |   | 103,603 |   |
| Deposits      and other assets                   |   |   | 5,092 |   |   |   | 6,262 |   |
| Total      Other Assets                          |   |   | 103,716 |   |   |   | 109,865 |   |
|                                             |   |   |   |   |   |   |   |   |
| TOTAL      ASSETS                                |   | $ | 109,622 |   |   | $ | 398,165 |   |
|                                             |   |   |   |   |   |   |   |   |
|                                             |   |   |   |   |   |   |   |   |
|                                             |   |   |   |   |   |   |   |   |

----

| LEXON      TECHNOLOGIES, INC. AND SUBSIDIARIES |
|------------------------------------------------|
| (A      Development Stage Company)             |
| Consolidated      Balance Sheets               |
| March      31, 2008 and 2007                   |
| (Unaudited)                                    |

| LIABILITIES      AND STOCKHOLDERS' DEFICIT                                                                                            |   |
|---------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                  |   |   |   |   |   |   |   |   |
|                                                                                                                                  |   |   |   |   |   |   |   |   |
| CURRENT      LIABILITIES                                                                                                              |   |   |   |   |   |   |   |   |
| Accounts      payable                                                                                                                 |   | $ | 507,203 |   |   | $ | 540,492 |   |
| Due      to related parties (Note 5)                                                                                                  |   |   | 391,855 |   |   |   | 404,277 |   |
| Accrued      expenses (Note 6)                                                                                                        |   |   | 833,736 |   |   |   | 1,741,316 |   |
| Convertible      debentures (Note 11)                                                                                                 |   |   | 86,960 |   |   |   | 86,960 |   |
| Notes      payable (Note 7)                                                                                                           |   |   | 190,702 |   |   |   | 374,982 |   |
| Total      Current Liabilities                                                                                                        |   |   | 2,010,456 |   |   |   | 3,148,027 |   |
|                                                                                                                                  |   |   |   |   |   |   |   |   |
| CONTINGENT      LIABILITIES (Note 6)                                                                                                  |   |   | 274,610 |   |   |   | 274,610 |   |
|                                                                                                                                  |   |   |   |   |   |   |   |   |
| STOCKHOLDERS'      DEFICIT                                                                                                            |   |   |   |   |   |   |   |   |
| Common      stock, par value $0.001 per share; 100,000,000 shares      authorized; 34,183,778 shares issued and      outstanding |   |   | 34,184 |   |   |   | 34,184 |   |
| Additional      paid-in capital                                                                                                       |   |   | 3,066,839 |   |   |   | 3,066,839 |   |
| Accumulated      other comprehensive loss (Note 10)                                                                                   |   |   | (76,572 | ) |   |   | (111,124 | ) |
| Deficit      accumulated during the development stage                                                                                 |   |   | (5,199,895 | ) |   |   | (6,014,371 | ) |
| Total      Stockholders' Deficit                                                                                                      |   |   | (2,175,444 | ) |   |   | (3,024,472 | ) |
|                                                                                                                                  |   |   |   |   |   |   |   |   |
| TOTAL      LIABILITIES AND STOCKHOLDERS' DEFICIT                                                                                      |   | $ | 109,622 |   |   | $ | 398,165 |   |

----

| LEXON      TECHNOLOGIES, INC. AND SUBSIDIARIES                            |
|---------------------------------------------------------------------------|
| (A      Development Stage Company)                                        |
| Consolidated      Statements of Operations                                |
| For      the Three Months Ended March 31, 2008 and 2007 and               |
| the      Period from Inception on July 18, 2001 through March 31,    2008 |
| (Unaudited)                                                               |

|                                     |                            |       |    |                  |   |       | From      Inception |                |
|------------------------------------------|---------------------------------|------------|---------|-----------------------|--------|------------|---------------------|---------------------|
|                                     | For      the Three Months Ended |       |    | on      July 18, 2001 |   |
|                                     | March 31,                       |       |    | Through               |   |
|                                     | 2008                            |       |    | 2007                  |   |       |                | March      31, 2008 |   |
|                                     |                            |       |    |                  |   |       |                |                |   |
| REVENUES                                 | $                               | -          |    |                  | $      | -          |                |                | $ | 22,031 |   |
|                                     |                            |       |    |                  |   |       |                |                |   |   |   |
| EXPENSES                                 |                            |       |    |                  |   |       |                |                |   |   |   |
| Research      and development            |                            | -          |    |                  |   | -          |                |                |   | 495,688 |   |
| Selling,      general and administrative |                            | 22,304     |    |                  |   | 87,574     |                |                |   | 3,977,772 |   |
| Bad      debt expense                    |                            | -          |    |                  |   | -          |                |                |   | 52,784 |   |
| Depreciation      and amortization       |                            | 266        |    |                  |   | 229        |                |                |   | 101,565 |   |
| Total      Expenses                      |                            | 22,570     |    |                  |   | 87,803     |                |                |   | 4,627,809 |   |
|                                     |                            |       |    |                  |   |       |                |                |   |   |   |
| LOSS      FROM OPERATIONS                |                            | (22,570    | )       |                  |   | (87,803    | )                   |                |   | (4,605,809) |   |
|                                     |                            |       |    |                  |   |       |                |                |   |   |   |
| OTHER      INCOME (EXPENSES)             |                            |       |    |                  |   |       |                |                |   |   |   |
| Interest      income                     |                            | -          |    |                  |   | -          |                |                |   | 40,543 |   |
| Other      income                        |                            | -          |    |                  |   | -          |                |                |   | 6,000 |   |
| Gain      on sale of assets              |                            | -          |    |                  |   | -          |                |                |   | 1,296,367 |   |
| Gain      on debt cancellation (Note 6)  |                            | -          |    |                  |   | -          |                |                |   | 907,872 |   |
| Interest      expense                    |                            | (2,094     | )       |                  |   | (1,998     | )                   |                |   | (778,776 | ) |
| Impairment      of goodwill              |                            | -          |    |                  |   | -          |                |                |   | (1,851,692 | ) |
| Loss      from investment                |                            | -          |    |                  |   | -          |                |                |   | (11,667 | ) |
| Loss      from discontinued operation    |                            | -          |    |                  |   | -          |                |                |   | (202,764 | )  |
| Total      Other Expense                 |                            | (2,094     | )       |                  |   | (1,998     | )                   |                |   | (594,117 | ) |
|                                     |                            |       |    |                  |   |       |                |                |   |   |   |
| NET      LOSS                            | $                               | (24,664    | )  |                  | $      | (89,801    | )              |                | $ | (5,199,895 | )  |
|                                     |                            |       |    |                  |   |       |                |                |   |   |   |
| BASIC      LOSS PER SHARE (Note 1)       | $                               | (0.001     | )       |                  | $      | (0.003     | )                   |                |   |   |   |
|                                     |                            |       |    |                  |   |       |                |                |   |   |   |
| WEIGHTED      AVERAGE NUMBER OF          |                            |       |    |                  |   |       |                |                |   |   |   |
| COMMON      STOCKS OUTSTANDING           |                            | 34,183,778 |    |                  |   | 34,183,778 |                |                |   |   |   |

----

| LEXON      TECHNOLOGIES, INC. AND SUBSIDIARIES                                           |
|------------------------------------------------------------------------------------------|
| (A      Development Stage Company)                                                       |
| Consolidated      Statements of Stockholders' Equity and Other Comprehensive      Income |
| the      Period from Inception on July 18, 2001 through March 31,    2008                |
| (Unaudited)                                                                              |

|                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |     |   | Deficit         |   |   |   |   |
|-----------------------------------------------------------------------|--------|-------------------|------------|--------|---------|--------|--------|--------------|--------|--------|---------------|--------|--------|--------------------|----------|--------|-----------------|--------|--------|--------|--------|
|                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   | Accumulated        |     |   | Accumulated     |   |   |
|                                                                  |   |              |       |   |    |   |   | Additional   |   |   |          |   |   | Other              |     |   | During      the |   |   |   |   |
|                                                                  |   | Common      Stock |       |   | Paid-in |   |   | Subscription |   |   | Comprehensive |   |   | Development        |     |   |
|                                                                  |   | Shares            |       |   | Amount  |   |   | Capital      |   |   | Receivable    |   |   | Income      (loss) |     |   | Stage           |   |   | Total  |   |
|                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |     |   |            |   |   |   |   |
| Balance,      July 18, 2001                                           |   |              | -          |   |    | $      | -      |         |   | $      | -             |   |   | $                  | -        |   |            | $      | -      |   |   | $ | - |   |   | $ | - |   |
|                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |     |   |            |   |   |   |   |   |   |   |   |   |   |   |
| July      2001 - stock issued for provided by operating activities    |   |              | 13,720,000 |   |    |   | 13,720 |         |   |   | -             |   |   |               | -        |   |            |   | -      |   |   |   | - |   |   |   | 13,720 |   |
|                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |     |   |            |   |   |   |   |   |   |   |   |   |   |   |
| August      2001 - stock issued for cash at $0.25 per share           |   |              | 2,280,000  |   |    |   | 2,280  |         |   |   | 567,720       |   |   |               | (220,000 | )      |            |   | -      |   |   |   | - |   |   |   | 350,000 |   |
|                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |     |   |            |   |   |   |   |   |   |   |   |   |   |   |
| October      2001 - stock issued for technology at $0.25 pr share     |   |              | 1,500,000  |   |    |   | 1,500  |         |   |   | 373,500       |   |   |               | -        |   |            |   | -      |   |   |   | - |   |   |   | 375,000 |   |
|                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |     |   |            |   |   |   |   |   |   |   |   |   |   |   |
| Net      loss for the period ended December 31, 2001                  |   |              | -          |   |    |   | -      |         |   |   | -             |   |   |               | -        |   |            |   | -      |   |   |   | (522,180 | ) |   |   | (522,180 | ) |
|                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |     |   |            |   |   |   |   |   |   |   |   |   |   |   |
| Balance,      December 31, 2001                                       |   |              | 17,500,000 |   |    |   | 17,500 |         |   |   | 941,220       |   |   |               | (220,000 | )      |            |   | -      |   |   |   | (522,180 | ) |   |   | 216,540 |   |
|                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |     |   |            |   |   |   |   |   |   |   |   |   |   |   |
| Receipt      of subscription receivable                               |   |              | -          |   |    |   | -      |         |   |   | -             |   |   |               | 220,000  |   |            |   | -      |   |   |   | - |   |   |   | 220,000 |   |
|                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |     |   |            |   |   |   |   |   |   |   |   |   |   |   |
| April      2002 - stock issued to acquire Phacon Corporation (Note 1) |   |              | 1,648,778  |   |    |   | 1,649  |         |   |   | (641,346      | )      |   |               | -        |   |            |   | -      |   |   |   | - |   |   |   | (639,697 | ) |
|                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |     |   |            |   |   |   |   |   |   |   |   |   |   |   |
| September      2002 - stock issued for cash at $0.25 per share        |   |              | 280,000    |   |    |   | 280    |         |   |   | 69,720        |   |   |               | -        |   |            |   | -      |   |   |   | - |   |   |   | 70,000 |   |
|                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |     |   |            |   |   |   |   |   |   |   |   |   |   |   |
| December      2002 - stock issued for cash at $0.83 per share         |   |              | 120,000    |   |    |   | 120    |         |   |   | 99,880        |   |   |               | -        |   |            |   | -      |   |   |   | - |   |   |   | 100,000 |   |
|                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |     |   |            |   |   |   |   |   |   |   |   |   |   |   |
| Net      loss for the period ended December 31, 2002                  |   |              | -          |   |    |   | -      |         |   |   | -             |   |   |               | -        |   |            |   | -      |   |   |   | (473,510 | ) |   |   | (473,510 | ) |
|                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |     |   |            |   |   |   |   |   |   |   |   |   |   |   |
| Balance,      December 31, 2002                                       |   |              | 19,548,778 |   |    |   | 19,549 |         |   |   | 469,474       |   |   |               | -        |   |            |   | -      |   |   |   | (995,690 | ) |   |   | (506,667 | ) |
|                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |     |   |            |   |   |   |   |   |   |   |   |   |   |   |
| January      2003 - stock issued for cash at $0.83 per share          |   |              | 240,000    |   |    |   | 240    |         |   |   | 199,760       |   |   |               | -        |   |            |   | -      |   |   |   | - |   |   |   | 200,000 |   |
|                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |     |   |            |   |   |   |   |   |   |   |   |   |   |   |
| March      2003 - stock issued for cash at $0.25 per share            |   |              | 840,000    |   |    |   | 840    |         |   |   | 209,160       |   |   |               | -        |   |            |   | -      |   |   |   | - |   |   |   | 210,000 |   |
|                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |     |   |            |   |   |   |   |   |   |   |   |   |   |   |
| December      2003 - stock issued for cash at $0.25 per share         |   |              | 60,000     |   |    |   | 60     |         |   |   | 14,940        |   |   |               | -        |   |            |   | -      |   |   |   | - |   |   |   | 15,000 |   |
|                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |     |   |            |   |   |   |   |   |   |   |   |   |   |   |
| Foreign      currency translation                                     |   |              | -          |   |    |   | -      |         |   |   | -             |   |   |               | -        |   |            |   | 4,729  |   |   |   | - |   |   |   | 4,729 |   |
|                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |     |   |            |   |   |   |   |   |   |   |   |   |   |   |
| Net      loss for the period ended December 31, 2003                  |   |              | -          |   |    |   | -      |         |   |   | -             |   |   |               | -        |   |            |   | -      |   |   |   | (611,808 | ) |   |   | (611,808 | ) |
|                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |     |   |            |   |   |   |   |   |   |   |   |   |   |   |
| Balance,      December 31, 2003                                       |   |              | 20,688,778 |   |    | $      | 20,689 |         |   | $      | 893,334       |   |   | $                  | -        |   |            | $      | 4,729  |   |   | $ | (1,607,498 | ) |   | $ | (688,746 | ) |

----

|                                                                                     |
|------------------------------------------------------------------------------------------|
| LEXON      TECHNOLOGIES, INC. AND SUBSIDIARIES                                           |
| (A      Development Stage Company)                                                       |
| Consolidated      Statements of Stockholders' Equity and Other Comprehensive      Income |
| the      Period from Inception on July 18, 2001 through March 31,    2008                |
| (Unaudited)                                                                              |

|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   | Deficit         |   |     |   |   |
|---------------------------------------------------------------------------------------|--------|-------------------|------------|--------|---------|--------|--------|--------------|--------|--------|---------------|--------|--------|--------------------|--------|--------|-----------------|--------|----------|--------|--------|
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   | Accumulated        |   |   | Accumulated     |   |     |   |   |
|                                                                                  |   |              |       |   |    |   |   | Additional   |   |   |          |   |   | Other              |   |   | During      the |   |     |   |   |
|                                                                                  |   | Common      Stock |       |   | Paid-in |   |   | Subscription |   |   | Comprehensive |   |   | Development        |   |   |            |   |
|                                                                                  |   | Shares            |       |   | Amount  |   |   | Capital      |   |   | Receivable    |   |   | Income      (loss) |   |   | Stage           |   |     | Total  |   |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |
| Balance,      December 31, 2003                                                       |   |              | 20,688,778 |   |    | $      | 20,689 |         |   | $      | 893,334       |   |   | $                  | -      |   |            | $      | 4,729    |   |   | $ | (1,607,498 | ) |   | $ | (688,746 | ) |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |   |   |   |   |   |   |   |
| October      2004 - stock issued for cash at $0.25 per share                          |   |              | 4,000,000  |   |    |   | 4,000  |         |   |   | 996,000       |   |   |               | -      |   |            |   | -        |   |   |   | - |   |   |   | 1,000,000 |   |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |   |   |   |   |   |   |   |
| December      2004 - stock issued for cash at $0.11 per share                         |   |              | 6,125,000  |   |    |   | 6,125  |         |   |   | 693,875       |   |   |               | -      |   |            |   | -        |   |   |   | - |   |   |   | 700,000 |   |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |   |   |   |   |   |   |   |
| December      2004 - stock issued for services at $0.25 pr share                      |   |              | 1,000,000  |   |    |   | 1,000  |         |   |   | 249,000       |   |   |               | -      |   |            |   | -        |   |   |   | - |   |   |   | 250,000 |   |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |   |   |   |   |   |   |   |
| December      2004 - stock issued in lieu of outstanding debt at $0.10 per      share |   |              | 2,370,000  |   |    |   | 2,370  |         |   |   | 234,630       |   |   |               | -      |   |            |   | -        |   |   |   | - |   |   |   | 237,000 |   |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |   |   |   |   |   |   |   |
| Foreign      currency translation                                                     |   |              | -          |   |    |   | -      |         |   |   | -             |   |   |               | -      |   |            |   | 1,589    |   |   |   | - |   |   |   | 1,589 |   |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |   |   |   |   |   |   |   |
| Net      loss for the period ended December 31, 2004                                  |   |              | -          |   |    |   | -      |         |   |   | -             |   |   |               | -      |   |            |   | -        |   |   |   | (907,200 | ) |   |   | (907,200 | ) |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |   |   |   |   |   |   |   |
| Balance,      December 31, 2004                                                       |   |              | 34,183,778 |   |    |   | 34,184 |         |   |   | 3,066,839     |   |   |               | -      |   |            |   | 6,318    |   |   |   | (2,514,698 | ) |   |   | 592,643 |   |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |   |   |   |   |   |   |   |
| Foreign      currency translation                                                     |   |              | -          |   |    |   | -      |         |   |   | -             |   |   |               | -      |   |            |   | (82,678  | )      |   |   | - |   |   |   | (82,678 | ) |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |   |   |   |   |   |   |   |
| Net      loss for the period ended December 31, 2005                                  |   |              | -          |   |    |   | -      |         |   |   | -             |   |   |               | -      |   |            |   | -        |   |   |   | (448,271 | ) |   |   | (448,271 | ) |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |   |   |   |   |   |   |   |
| Balance,      December 31, 2005                                                       |   |              | 34,183,778 |   |    |   | 34,184 |         |   |   | 3,066,839     |   |   |               | -      |   |            |   | (76,360  | )      |   |   | (2,962,969 | ) |   |   | 61,694 |   |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |   |   |   |   |   |   |   |
| Foreign      currency translation                                                     |   |              | -          |   |    |   | -      |         |   |   | -             |   |   |               | -      |   |            |   | (20,773  | )      |   |   | - |   |   |   | (20,773 | ) |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |   |   |   |   |   |   |   |
| Investment      loss                                                                  |   |              | -          |   |    |   | -      |         |   |   | -             |   |   |               | -      |   |            |   | (22,704  | )      |   |   | - |   |   |   | (22,704 | ) |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |   |   |   |   |   |   |   |
|  Net      loss for the period ended December 31, 2006                            |   |              | -          |   |    |   | -      |         |   |   | -             |   |   |               | -      |   |            |   | -        |   |   |   | (2,961,601 | ) |   |   | (2,961,601 | ) |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |   |   |   |   |
|  Balance,      December 31, 2006                                                 |   |              | 34,183,778 |   |    |   | 34,184 |         |   |   | 3,066,839     |   |   |               | -      |   |            |   | (119,837 | )      |   |   | (5,924,570 | ) |   |   | (2,943,384 | ) |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |   |   |   |   |
|  Foreign      currency translation                                               |   |              | -          |   |    |   | -      |         |   |   | -             |   |   |               | -      |   |            |   | 4,529    |   |   |   | - |   |   |   | 4,529 |   |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |
|  Net      income for the period ended December 31, 2007                          |   |              | -          |   |    |   | -      |         |   |   | -             |   |   |               | -      |   |            |   | -        |   |   |   | 749,339 |   |   |   | 749,339 |   |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |   |   |   |   |
| Balance,      December 31, 2007                                                       |   |              | 34,183,778 |   |    |   | 34,184 |         |   |   | 3,066,839     |   |   |               | -      |   |            |   | (115,308 | )      |   |   | (5,175,231 | ) |   |   | (2,189,516 | ) |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |   |   |   |   |
| Foreign      currency translation                                                     |   |              | -          |   |    |   | -      |         |   |   | -             |   |   |               | -      |   |            |   | 38,736   |   |   |   | - |   |   |   | 38,736 |   |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |
| Net      loss for the period ended March 31, 2008                                     |   |              | -          |   |    |   | -      |         |   |   | -             |   |   |               | -      |   |            |   | -        |   |   |   | (24,664 | ) |   |   | (24,664 | ) |
|                                                                                  |   |              |       |   |    |   |   |         |   |   |          |   |   |               |   |   |            |   |     |   |   |   |   |   |   |   |   |   |
| Balance,      March 31, 2008                                                          |   |              | 34,183,778 |   |    | $      | 34,184 |         |   | $      | 3,066,839     |   |   | $                  | -      |   |            | $      | (76,572  | )      |   | $ | (5,199,895 | ) |   | $ | (2,175,444 | ) |

----

| LEXON      TECHNOLOGIES, INC. AND SUBSIDIARIES                            |
|---------------------------------------------------------------------------|
| (A      Development Stage Company)                                        |
| Consolidated      Statements of Cash Flows                                |
| For      the Three Months Ended March 31, 2008 and 2007 and               |
| the      Period from Inception on July 18, 2001 through March 31,    2008 |
| (Unaudited)                                                               |

|                                                        |   |                            |    |   |           |   |    | From      Inception   |   |
|-------------------------------------------------------------|--------|---------------------------------|---------|--------|----------------|--------|---------|-----------------------|--------|
|                                                        |   |                            |    |   |           |   |    | on      July 18, 2001 |   |
|                                                        |   | For      the Three Months Ended |    |   | Through        |   |
|                                                        |   | March      31,                  |    |   | March      31, |   |
|                                                        |   | 2008                            |    |   | 2007           |   |    | 2008                  |   |
| CASH      FLOWS FROM OPERATIONG ACTIVITIES:                 |   |                            |    |   |           |   |    |
| Net      loss                                               |   | $                               | (24,664 | )      |           | $      | (89,801 | )                     |   | $ | (5,199,895 | ) |
| Adjustments      to reconcile net loss to net cash          |   |                            |    |   |           |   |    |                  |   |   |   |   |
| used      in operating activities                           |   |                            |    |   |           |   |    |                  |   |   |   |   |
| Depreciation      and amortization                          |   |                            | 266     |   |           |   | 229     |                  |   |   | 100,856 |   |
| Stock      for services                                     |   |                            | -       |   |           |   | -       |                  |   |   | 263,720 |   |
| Stock      for technology                                   |   |                            | -       |   |           |   | -       |                  |   |   | 375,000 |   |
| Bad      debt expense                                       |   |                            | -       |   |           |   | -       |                  |   |   | 52,784 |   |
| Impairment      of goodwill                                 |   |                            | -       |   |           |   | -       |                  |   |   | 1,845,124 |   |
| Gain      on forgiveness of debt                            |   |                            | -       |   |           |   | -       |                  |   |   | (19,872 | ) |
| Gain      on sale of assets                                 |   |                            | -       |   |           |   | -       |                  |   |   | (1,297,501 | ) |
| Change      in assets and liabilities (net of acquisition): |   |                            |    | -      |           |   |    |                  |   |
| Increase      in other assets                               |   |                            | -       |   |           |   | -       |                  |   |   | (18,219 | ) |
| Decrease      in other receivable                           |   |                            | -       |   |           |   | -       |                  |   |   | 359,992 |   |
| Decrease      in prepaid expenses                           |   |                            | -       |   |           |   | -       |                  |   |   | 4,684 |   |
| Increase      in accrued interest                           |   |                            | -       |   |           |   | -       |                  |   |   | (76,360 | ) |
| Decrease      in inventory                                  |   |                            | -       |   |           |   | -       |                  |   |   | 5,255 |   |
| (Decrease)      increase in accounts payable                |   |                            | (38,493 | )      |           |   | 59,252  |                  |   |   | 253,677 |   |
| Increase      in accrued expenses                           |   |                            | 2,094   |   |           |   | -       |                  |   |   | 1,641,531 |   |
| Net      Cash Used in Operating Activities                  |   |                            | (60,797 | )      |           |   | (30,320 | )                     |   |   | (1,709,224 | ) |
|                                                        |   |                            |    |   |           |   |    |                  |   |   |   |   |
| CASH      FLOWS FROM INVESTING ACTIVITIES:                  |   |                            |    |   |           |   |    |                  |   |
| Acquisition      of property and equipment                  |   |                            | -       |   |           |   | -       |                  |   |   | (4,576 | ) |
| Proceeds      received on sale of fixed assets              |   |                            | -       |   |           |   | -       |                  |   |   | 119,466 |   |
| Payments      made on related party notes                   |   |                            | -       |   |           |   | -       |                  |   |   | (235,554 | ) |
| Proceeds      received on related party notes               |   |                            | -       |   |           |   | -       |                  |   |   | 477,407 |   |
| Acquisition      of investments                             |   |                            | -       |   |           |   | -       |                  |   |   | (1,869,371 | ) |
| Proceeds      from return of investments                    |   |                            | -       |   |           |   | -       |                  |   |   | 271,939 |   |
| Net      Cash Used in Investing Activities                  |   |                            | -       |   |           |   | -       |                  |   |   | (1,240,689 | ) |
|                                                        |   |                            |    |   |           |   |    |                  |   |   |   |   |
| CASH      FLOWS FROM FINANCING ACTIVITIES:                  |   |                            |    |   |           |   |    |                  |   |
| Receipt      of subscription receivable                     |   |                            | -       |   |           |   | -       |                  |   |   | 220,000 |   |
| Proceeds      from related party notes                      |   |                            | -       |   |           |   | -       |                  |   |   | 239,731 |   |
| Proceeds      from notes payable                            |   |                            | 15,720  |   |           |   | 349,982 |                  |   |   | 314,277 |   |
| Payments      made on notes payable                         |   |                            | -       |   |           |   | (41,615 | )                     |   |   | (493,822 | ) |
| Proceeds      from issuance of common stock                 |   |                            | -       |   |           |   | -       |                  |   |   | 2,645,000 |   |
| Net      Cash Provided by Financing Activities              |   |                            | 15,720  |   |           |   | 308,367 |                  |   |   | 2,925,186 |   |
|                                                        |   |                            |    |   |           |   |    |                  |   |   |   |   |
| NET      INCREASE (DECREASE) IN CASH AND CASH EQUIVALENT    |   |                            | (45,077 | )      |           |   | 278,047 |                  |   |   | (24,727 | ) |
|                                                        |   |                            |    |   |           |   |    |                  |   |   |   |   |
| EFFECT      OF CURRENCY EXCHANGE RATE CHANGES               |   |                            |    |   |           |   |    |                  |   |
| ON      CASH AND CASH EQUIVALENTS                           |   |                            | 44,593  |   |           |   | 10,026  |                  |   |   | 29,498 |   |
|                                                        |   |                            |    |   |           |   |    |                  |   |   |   |   |
| CASH      AND CASH EQUIVALENT AT BEGINNING OF PERIOD        |   |                            | 5,255   |   |           |   | 227     |                  |   |   | - |   |
|                                                        |   |                            |    |   |           |   |    |                  |   |   |   |   |
| CASH      AND CASH EQUIVALENT AT END OF PERIOD              |   | $                               | 4,771   |   |           | $      | 288,300 |                  |   | $ | 4,771 |   |

----

| LEXON      TECHNOLOGIES, INC. AND SUBSIDIARIES                            |
|---------------------------------------------------------------------------|
| (A      Development Stage Company)                                        |
| Consolidated      Statements of Cash Flows                                |
| For      the Three Months Ended March 31, 2008 and 2007 and               |
| the      Period from Inception on July 18, 2001 through March 31,    2008 |
| (Unaudited)                                                               |

|                                             |   | For      the Three Months Ended March      31, |   |   | From      Inceptionon July 18,      2001, ThroughMarch      31, |   |
|--------------------------------------------------|--------|-----------------------------------------------------|--------|--------|----------------------------------------------------------------------|--------|
|                                             |   |  2008                                          |   |   |  2007                                                           |   |   |  2008 |   |
|                                             |   |                                                |   |   |                                                                 |   |   |   |   |
|                                             |   |                                                |   |   |                                                                 |   |   |   |   |
| SUPPLEMENTAL      CASH FLOW INFORMATION          |   |                                                |   |   |                                                                 |   |   |
|                                             |   |                                                |   |   |                                                                 |   |   |   |   |
| Cash      Payments For:                          |   |                                                |   |   |                                                                 |   |   |   |   |
| Interest                                         |   | $                                                   | -      |   |                                                                 | $      | - |   |   | $ | 717,548 |   |
|                                             |   |                                                |   |   |                                                                 |   |   |   |   |   |   |   |
| Non-Cash      Investing and Financing Activities |   |                                                |   |   |                                                                 |   |   |   |   |   |   |   |
| Stock      issued for thechnology                |   | $                                                   | -      |   |                                                                 | $      | - |   |   | $ | 375,000 |   |
| Stock      issued for services                   |   | $                                                   | -      |   |                                                                 | $      | - |   |   | $ | 263,720 |   |
| Stock      issued for in lieu of debt            |   | $                                                   | -      |   |                                                                 | $      | - |   |   | $ | 237,000 |   |

----

----

|   | Note      1 – Nature of Business and GoingConcern |
|--------|---------------------------------------------------------|

| (a)   |  Description      of Business |
|-----------------|------------------------------------|

----

----

| (b) | Going      Concern |
|-----|--------------------|

|   | Note      2 - Significant Accounting Policies |
|--------|-----------------------------------------------|

| (a)   | Basis      of Financial Statement Presentation |
|-----------------|------------------------------------------------|

| (b)   | Basis of      Consolidation |
|-----------------|-----------------------------|

----

----

|   | (c) | Unit      of Estimates |
|--------|-----|------------------------|

|   | (d) | Revenue      Recognition |
|--------|-----|--------------------------|

| (e)   | Currency      Translation |
|-----------------|---------------------------|

----

----

| (f) | Cash      and Cash Equivalents |
|-----|--------------------------------|

| (g) | Properties      and Equipment |
|-----|-------------------------------|

| Buildings      and improvements | 20-40      years |
|---------------------------------|------------------|
| Machinery      and equipment    | 10      years    |
| Computer      equipment         | 3      years     |
| Automobiles                     | 5      years     |
| Office      and other equipment | 5      years     |

|   | The      computations of basic earning (loss) per share of common stock are based      on the weighted average number of common shares outstanding during the      each period of the consolidated financial statements.  Common stock      equivalents, consisting of stock options and warrants, have not been      included in the calculation as their effect is anti-dilutive for the      periods presented. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

|                                                                   |   | 2008   |       |   | 2007   |   |
|------------------------------------------------------------------------|--------|--------|------------|--------|--------|--------|
|                                                                   |   |   |       |   |   |   |
| Numerator      – loss for the period                             |   | $      | (24,664    | )      |   | $      | (89,801 | ) |
|                                                                   |   |   |       |   |   |   |   |   |
| Denominator      – weighted average number of shares outstanding |   |   | 34,183,778 |   |   |   | 34,183,778 |   |
|                                                                   |   |   |       |   |   |   |   |   |
| Loss      per share                                                    |   | $      | (0.001     | )      |   | $      | (0.003 | ) |

Financial Instruments

Recent Accounting Pronouncements

In June 2006, the FASB issued Interpretation No. 48,Accounting for Uncertainty in Income Taxes (“FIN 48”). FIN 48 clarifies theaccounting for uncertainty in income taxes recognized in the Company’s financialstatements in accordance with SFAS No. 109. FIN 48 prescribes a recognitionthreshold and measurement attributes for the financial statement recognition andmeasurement of a tax position taken or expected to be taken in a tax return. Theprovisions of FIN 48 are effective for the fiscal years beginning afterDecember 15, 2006. The Company does not expect that the adoption of FIN 48will have a significant effect on its financial statements.

----

----

|                            |   |  2008 |    |   |  2007 |   |
|---------------------------------|--------|------------|---------|--------|------------|--------|
|                            |   |       |    |   |       |   |
|                            |   |       |    |   |       |   |
| Computer      and equipment     |   | $          | 10,450  |   |       | $      | 8,990 |   |
| Furniture      and fixture      |   |       | 4,287   |   |       |   | 4,287 |   |
|                            |   |       | 14,737  |   |       |   | 13,277 |   |
| Accumulated      depreciation   |   |       | (13,602 | )      |       |   | (13,277 | ) |
|                            |   |       |    |   |       |   |   |   |
| Net      property and equipment |   | $          | 1,135   |   |       | $      | - |   |

$404,277, respectively. These amounts are non-interestbearing and payable on demand. 

The Company has not been able to paycompensations to its officers on time, and the past-due compensations aggregated$1,690,014, of which $888,000 was waived by the former officers. As a result,the balance of the past-due compensations was reduced to $802,014 as of March31, 2008. The Company recorded the waived amount as gain on debt cancellationfor the year ended December 31, 2007. 

----

|                                                                                                                       |   | 2008   |    |   | 2007   |   |
|----------------------------------------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|--------|
|                                                                                                                       |   |   |    |   |   |   |
| Note      payable to a related party with interest at 7.5% per annum, unsecured.      Note is in default and due on demand |   | $      | 20,000  |   |   | $      | 20,000 |   |
|                                                                                                                       |   |   |    |   |   |   |   |   |
| Note      payable to an individual with interest at 7.5% per annum, unsecured. Note      is in default and due on demand   |   |   | 5,000   |   |   |   | 5,000 |   |
|                                                                                                                       |   |   |    |   |   |   |   |   |
| Note      payable to an unrelated party with interest at 7.5% per annum, unsecured.      Note is due on demand             |   |   | 149,982 |   |   |   | 349,982 |   |
|                                                                                                                       |   |   |    |   |   |   |   |   |
| Note      payable to an unrelated party, non-interest bearing and unsecured. Note is      due on demand                    |   |   | 15,720  |   |   |   | - |   |
|                                                                                                                  |   |   |    |   |   |   |   |   |
| Total      notes payable                                                                                              |   | $      | 190,702 |   |   | $      |  374,982 |   |

Note 8 - IncomeTaxes

----

----

|                                      |   | 2008   |     |          | 2007   |   |
|-------------------------------------------|--------|--------|----------|---------------|--------|--------|
|                                      |   |   |     |          |   |   |
| Balance,      beginning of period         |   | $      | (115,308 | )   |   | $      | (119,837 | )  |
|                                 |   |   |     |          |   |   |   |   |
| Effect      of currency translation  |   |   | 38,736   |          |   |   | 8,713 |   |
|                                 |   |   |     |          |   |   |   |   |
| Balance,      end of period          |   | $      | (76,572  | )             |   | $      | (111,124 | ) |

Note 11 - Convertible Debentures

|                                                                                                                                                                        |   | 2008   |         |   | 2007   |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------------|--------|--------|--------|
|                                                                                                                                                                        |   |   |         |   |   |   |
| A      note with 7.5% interest, convertible to 30,000 shares of the Company’s      common stock, matured on September 9, 2004 with interest accrued at      $10,148.  |   | $      | 30,000       |   |   | $      | 30,000 |   |
|                                                                                                                                                                        |   |   |         |   |   |   |   |   |
| Two      notes with 7.5% interest, convertible to 227,840 shares of common stock,      matured on October 30, 2005 with interest accrued at $13,922.                   |   |   | 56,960       |   |   |   | 56,960 |   |
|                                                                                                                                                                        |   |   |         |   |   |   |   |   |
| Total      convertible debentures                                                                                                                                           |   | $      |  86,960 |   |   | $      |  86,960 |   |

----

| ITEM      2. | MANAGEMENT'S      DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF      OPERATIONS |
|--------------|-------------------------------------------------------------------------------------------------|

|                      |   | Three      Months   |        |   | Three      Months   |   |        |       |   |
|---------------------------|--------|---------------------|-------------|--------|---------------------|--------|-------------|------------|--------|
|                      |   | Ended               |        |   | Ended               |   |        | Percentage |   |
|                      |   | March      31, 2008 |        |   | March      31, 2007 |   |        | Change     |   |
|                      |   | (Unaudited)         |        |   | (Unaudited)         |   |        |       |   |
| Revenue                   |   | $                   | -           |   |                | $      | -           |       |   | $ | - |   |
| Operating      expenses   |   |                | 22,570      |   |                |   | 87,803      |       |   |   | 74.3 | % |
| Net      (loss)           |   | $                   | (24,664     | )      |                | $      | (89,801     | )          |   | $ | 72.5 | % |
| Net      (loss) per share |   | $                   | (      .001 | )      |                | $      | (      .003 | )          |   | $ | 66.7 | % |

----

| ITEM 3. | QUANTITATIVE      AND QUALITATIVE DISCLOSURES ABOUT MARKETRISK |
|---------|----------------------------------------------------------------|

----

| ITEM      4. | CONTROLS      AND PROCEDURES |
|--------------|------------------------------|

| ITEM      4T. | CONTROLS      AND PROCEDURES |
|---------------|------------------------------|

| ITEM      1. | LEGAL      PROCEEDINGS |
|--------------|------------------------|

| ITEM      1A. | RISK      FACTORS |
|---------------|-------------------|

| ITEM      2. | UNREGISTERED      SALES OF EQUITY SECURITIES AND USE OFPROCEEDS |
|--------------|-----------------------------------------------------------------|

| ITEM      3. | DEFAULT      UPON SENIOR SECURITIES |
|--------------|-------------------------------------|

| ITEM      4. | SUBMISSION      OF MATTERS TO A VOTE OF SECURITIESHOLDERS |
|--------------|-----------------------------------------------------------|

| ITEM      5. | OTHER      INFORMATION |
|--------------|------------------------|

| ITEM      6. | EXHIBITS |
|--------------|----------|

| Exhibit      31.1 | CERTIFICATION      OF CHIEF EXECUTIVE OFFICER PURSUANT TO THE SECURITIES EXCHANGE ACT OF      1934, RULES 13(A)-14 AND 15(D)-14, AS ADOPTED PURSUANT TO SECTION 302 OF      THE SARBANES-OXLEY ACT OF 2002. |
|-------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|              |                                                                                                                                                                                                        |
| Exhibit      31.2 | CERTIFICATION      OF CHIEF FINANCIAL OFFICER PURSUANT TO THE SECURITIES EXCHANGE ACT OF      1934, RULES 13(A)-14 AND 15(D)-14, AS ADOPTED PURSUANT TO SECTION 302 OF      THE SARBANES-OXLEY ACT OF 2002. |
|              |                                                                                                                                                                                                        |
| Exhibit      32   | CERTIFICATION      PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF      THE SARBANES-OXLEY ACT OF 2002.                                                                           |

----

|                          | LEXON      TECHNOLOGIES, INC. |                                                     |
|-------------------------------|-------------------------------|----------------------------------------------------------|
|                          |                          |                                                     |   |
| Date:       May 15, 2008 | By:                           | /s/ Hyung      Soon Lee                             |   |
|                          |                          | Hyung      Soon Lee                                      |   |
|                          |                          | Chief      Executive Officer and Chief Financial Officer |   |
|                          |                          |                                                     |   |

----