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|                                                                                                                                                                      |                                   
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------
|SECURITIES AND EXCHANGE COMMISSION 
      Washington, D.C. 20549
      FORM 10-Q
      PURSUANT TO SECTION 13 OR 15 (d) OF THE 
      SECURITIES EXCHANGE ACT OF 1934
|For the Quarter
      EndedDecember 31, 2004                                                                                                                          | Commission File
      Number0-9392
|CLXINVESTMENT COMPANY, INC.(Exact Name of Registrant as Specified in Its Charter)                                                                                    

|                                                                                                                            |  |                                  
|--------------------------------------------------------------------------------------------------------------------------- |  | ---------------------------------
|Colorado                                                                                                                    |  | 84-0749623                       
|(State or other jurisdiction of
      incorporation or organization)                                                        |  | (IRS Employer Identification No.)
|                                                                                                                            |  |                                  
|43180
      Business Park Dr., Suite 202 Temecula, CA 92590                                                                
|(Address of
      principal executive offices)                                                                             
|(951) 587-9100 (Issuers telephone number, including area code)CLX Energy, Inc.
      (Registrant's Former Name and Address)

Check whether the Issuer (1) filed all reports required to be filed by Section
  13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12
  months (or for such shorter period that the Registrant was required to file
  such reports), and (2) has been subject to such filing requirements for the
  past 90 days. Yes [ X] No[  ] 
  Indicate the number of shares outstanding of each of the issuer's class of
  common stock, as of the last practicable date.

|Class
      Common Stock, $0.01 par value | Outstanding at
      January 20, 2005
      3,597,634
|----------------------------------------- | -----------------------------------------------------



1

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CLX INVESTMENT COMPANY, INC.

PAGE NUMBERPART I - FINANCIAL INFORMATIONItem 1.
        
        Balance Sheet
        3Schedule of Investment
        4Statements of Operations
        5Statements of Stockholders' Equity (Deficit)
        6Statements of Cash Flows
        7Notes to Financial Statements
        8-9Item 2.
        
        Management's Discussion and Analysis of Financial Condition and Results
        of Operations
        10-15PART II - OTHER INFORMATION
        16SIGNATURE PAGE
        17-19SARBANNES-OXLEY CERTIFICATIONS
        20






2

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|CLX Investment Company, Inc. 
      (Formerly CLX Energy, Inc.)
      Balance SheetsASSETS
|------------------------------------------------------------------------------------------
|                                                                                          
|                                                                                          
|Current Assets                                                                            
|                                                                                          
|                                                                                          
|Total Current Assets                                                                      
|Equipment, Net                                                                            
|Investments (See Schedule)                                                                
|                                                                                          
|                                                                                          
|                                                                                          
|LIABILITIES
      AND STOCKHOLDERS' EQUITY (DEFICIT)                                      
|Current Liabilities                                                                       
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|Stockholders' Equity (Deficit)                                                            
|                                                                                          
|                                                                                          
|                                                                                          
|                                                                                          
|Total Stockholders' Equity (Deficit)                                                      
|                                                                                          

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



3

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CLX INVESTMENT COMPANY, INC.Schedule of Investments

INVESTMENTS:

Company
      
      Description
      of Business
      
      Percent
      Ownership
      
      Cost
      
      
      Fair 
      Value
      
      
      AffiliationeStrategy Solutions, Inc.
      
      e-Learning
      
      40%
      $
      60,000
      
      $
      60,000
      
      (1)
      No


COMMERCIAL LOANS:

Company
      
      Description
      of Business
      
      Type of Debt
      
      AmounteStrategy Solutions, Inc.
      
      e-Learning
      
      Credit Line
      $
      10,000






(1)  The Board of Directors has
  determined to value the investment at cost for the quarter ended December 31,
  2004 based on brief performance history.



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

4

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CLX Investment Company, Inc.(Formerly CLX Energy, Inc.)Statements of Operations(Unaudited)For the Three
        
        
        For the ThreeMonths Ended
        Months EndedDecember 31,
        December 31,2004
        
        
        2003Investment Revenue
        $
        -
        
        $
        -Interest Income
        
        50
        
        
        -Total Revenues
        
        50
        
        
        -Operating ExpensesGeneral & Administrative
        
        60,909
        
        
        -Professional fees
        
        9,629
        
        
        -Total Operating Expenses
        
        70,538
        
        
        -Net Operating Income (Loss)
        
        (70,488)
        
        
        -Other Income (Expense)Interest Expense (Note 2)
        
        (161,340)
        
        
        -Total Other Income (Expense)
        
        (161,340)
        
        
        -LOSS FROM CONTINUING OPERATIONS
        
        (231,828)
        
        
        -INCOME (LOSS) FROM DISCONTINUED OPERATIONS
        NET OF ZERO TAX EFFECT
        
        -
        
        
        3,145Income Tax Expense
        
        -
        
        
        -Net Income (Loss)
        $
        (231,828)
        
        $
        3,145Net Income (Loss) Per Share
        $
        (0.17)
        
        $
        0Weighted Average Shares Outstanding
        
        1,397,634
        
        
        2,631,936The accompanying notes are an integral
        part of these financial statements.


5

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|CLX Investment Company, Inc.                                                                |                
|------------------------------------------------------------------------------------------- | ---------------
|(Formerly CLX Energy, Inc.)                                                                 |                
|Statements of Stockholders' Equity
      (Deficit)                                          |                
|                                                                                            |                
|                                                                                            | Preferred Stock
|                                                                                            | Shares         
|                                                                                            |                
|Balance, September 30, 2001                                                                 |                
|Net loss for period ended September
      30, 2002                                          |                
|                                                                                            |                
|Balance, September 30,2002                                                                  |                
|Net profit for period ended
      September 30, 2003                                        |                
|                                                                                            |                
|Balance, September 30,2003                                                                  |                
|October, 2003 retirement of Treasury
      stock                                            |                
|                                                                                            |                
|September 2, 2004, sale of
      subsidiary for exchange of shares                          |                
|Net loss for period ended September
      30, 2004                                          |                
|                                                                                            |                
|Balance, September 30,2004                                                                  |                
|Stock issued on conversion of
      debentures, November through December, 2004 (Unaudited) |                
|Beneficial conversion expense
      related to convertible debentures (Unaudited)           |                
|Net Loss for period ended December
      31, 2004
      (Unaudited)                         |                
|                                                                                            |                
|Balance, December 31, 2004 (Unaudited)                                                      |                
|                                                                                            |                
|                                                                                           
|                                                                                           
|                                                                                           
|The accompanying notes are an
      integral part of these financial statements.           
|                                                                                            |                





6

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CLX Investment Company, Inc.(Formerly CLX Energy, Inc.)Statements of Cash FlowsFor the Three
        
        
        For the ThreeMonths Ended
        Months EndedDecember 31,
        December 31,2004
        (Unaudited)
        
        
        2003
        (Unaudited)Cash Flows from Operating Activities:Net Income (Loss)
        
        $
        (231,828)
        
        $
        3,145Adjustments to Reconcile Net Income (Loss) to Net
        Cash Provided (Used) by Operations:Depreciation and depletion
        
        
        -
        
        
        7,202Gain on sale of assets
        
        
        -
        
        
        (10,057)Beneficial conversion expense
        
        
        160,000
        
        
        -Bad debt allowance
        
        
        10,000
        
        
        -Changes in Operating Assets and
        Liabilities:(Increase) Decrease in:Accounts Receivable
        
        
        -
        
        
        (42,776)Prepaid expense
        
        
        -
        
        
        1,511Increase (Decrease) in:Accrued interest
        
        
        (50)
        
        
        -Accounts Payable
        
        
        (5,939)
        
        
        93,826Accrued Expenses
        
        
        (1,660)
        
        
        -Net Cash Provided (Used) by Operating
        Activities
        
        
        (69,477)
        
        
        52,851Cash Flows from Investing Activities:Purchase of Property and Equipment
        
        
        -
        
        
        (1,970)Proceeds from sale of property and
        equipment
        
        
        -
        
        
        25,245Investment in subsidiary
        
        
        (60,000)
        
        
        -Advances on line of credit
        
        
        (10,000)
        
        
        -Addition to other assets
        
        
        -
        
        
        (39)Net Cash Provided (Used) by Investing
        Activities
        
        
        (70,000)
        
        
        23,236Cash Flows from Financing Activities:Reductions to long-term debt
        
        
        -
        
        
        (21,000)Proceeds from convertible debentures
        
        
        150,000
        
        
        -Repayments of convertible debentures
        
        
        (135,000)
        
        
        -Net Cash Provided (Used) by Financing
        Activities
        
        
        15,000
        
        
        (21,000)Increase (Decrease) in Cash
        
        
        (124,477)
        
        
        55,087Cash and Cash Equivalents at Beginning of
        Period
        
        
        130,000
        
        
        227,678Cash and Cash Equivalents at End of Period
        
        $
        5,523
        
        $
        282,765Cash Paid For:Interest
        
        $
        -
        
        $
        1,600Income Taxes
        
        $
        -
        
        $
        -Non-Cash Investing and Financing
        Activities:Stock Issued for Convertible Debentures
        
        $
        6,000
        
        
        -The accompanying notes are an integral part
        of these financial statements.


7

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CLX INVESTMENT COMPANY, INC.Notes to the Financial Statements 
  December 31, 2004 and 2003

NOTE 1 - NATURE OF
  ORGANIZATION 
  This summary of significant accounting policies of CLX Investment Company,
  Inc. and Subsidiaries is presented to assist in understanding the Company's
  financial statements. The financial statements and notes are representations
  of the Company's management who are responsible for their integrity and
  objectivity. These accounting policies conform to accounting principles
  generally accepted in the United States of America and have been consistently
  applied in the preparation of the consolidated financial statements. 
  a. Organization and Business Activities 
  The Company was incorporated on December 12, 1977 under the laws of the State
  of Colorado as Calvin Exploration Company, Inc. to engage in any lawful
  activity as shall be appropriate under laws of the State of Colorado. The
  Company was organized to engage in on-shore oil and gas exploration,
  development and production in the continental United States. The Company's oil
  and gas activities concentrated primarily in Colorado, Kansas, Oklahoma and
  Wyoming. In 1993 the name of the Company was changed to CLX Energy, Inc. Up
  until September 1, 2004 the Company engaged in only one industry segment and
  line of business; the acquisition, exploration, development and operation of
  oil and gas properties for its own account. 
  On May 24, 2004 the Company appointed new management and moved its
  headquarters to Temecula, CA. At the same time the Company formed CLX Oil &
  GAS, LLC a wholly owned subsidiary of CLX Energy, Inc. and transferred all of
  the oil and gas operations of the Company (including the assets and
  liabilities pertaining to such operations) into CLX Oil & Gas, LLC. On
  September 1, 2004 the Company sold 100% of its interest in CLX Oil & Gas, LLC
  to certain shareholders of the Company in exchange for shares of CLX Energy,
  Inc. The shareholders returned 1,433,552 shares in exchange for 100% interest
  in CLX Oil & GAS, LLC. The Board of Directors approved the "Securities
  Purchase and Sale Agreement" and also obtained a fairness opinion from Lehrer
  Financial and Economic Advisory Service indicating that the Securities
  Purchase and Sale Agreement is a fair and equitable exchange. The sale of the
  subsidiary has been accounted for as an asset sale transaction and all gas and
  oil operations are being reported as discontinued operations on the financial
  records.
  On September 13, 2004, the Company filed with the Securities and Exchange
  Commission to become a Business Development Corporation as defined under the
  Investment Act of 1940. Additionally, on September 13, 2004, the Company filed
  an offering circular with the SEC for up to $5,000,000 of common stock under
  Regulation E of the Investment Act to raise capital and to make investments in
  eligible emerging or early-stage companies in various fields of business by
  arranging for and contributing capital and providing management assistance. In
  anticipation of the election to become a BDC, the Company changed its name to
  CLX Investment Company, Inc. on September 1, 2004 to properly reflect the
  nature of its business. 
  NOTE 2 - CONVERTIBLE DEBENTURES 
  During the quarter ended December 31, 2004, the Company raised $150,000 of
  operating capital in the form of convertible debentures. The debentures have
  varying terms of 60 days to 90 days, accrue interest at 8% per annum, and
  convert at a discount of 50% of the closing bid for the Company's common stock
  on the date of conversion. All convertible debentures are convertible at the
  option of the holder or the Company and automatically convert into common
  stock in the event of bankruptcy or liquidation. During the quarter ended
  December 31, 2004, $6,000 of these debentures were converted into 600,000
  shares of common stock and $135,000 in debentures outstanding at September 30,
  2004 were repaid with cash. The Company recorded a beneficial conversion
  expense of $160,000 during the quarter ended December 31, 2004.
  Subsequent to the end of the quarter the company issued a convertible
  debenture for $100,000. The debenture is payable in 120 days, accrues interest
  at 8% per annum, and converts at a discount of 50% of the closing bid for the
  Company's common stock on the date of conversion. The debenture is convertible
  at the option of the holder or the Company and automatically converts into
  common stock in the event of bankruptcy or liquidation. Subsequent to December
  31, 2004 the Company converted an additional $16,000 in debentures to
  1,600,000 shares of common stock.

8

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NOTE 3 - EQUITY
  TRANSACTIONS
  During the quarter ended December 31, 2004, the Company issued 600,000 share
  of common stock on the conversion of $6,000 of convertible debentures.
  NOTE 4 - SUBSEQUENT EVENTS 
  Stock Issuances 
  Subsequent to the quarter ended December 31, 2004, the Company issued
  1,600,000 shares of common stock for the conversion of $16,000 of convertible
  debentures. 
  Subsequent to the quarter ended December 31, 2004, the Company sold 200,000
  shares of common stock for $2,000 cash.
  Convertible Debentures
  Subsequent to the quarter ended December 31, 2004 the company issued a
  convertible debenture for $100,000. The debenture is payable in 120 days,
  accrues interest at 8% per annum, and converts at a discount of 50% of the
  closing bid on the day of conversion, or at the lowest price allowable as set
  by CLX Investment Company, Inc. in an effective registration statement or
  exemption notification as filed with the Commission for the Company's common
  stock on the date of conversion. The debenture is convertible at the option of
  the holder or the Company, and automatically converts into common stock in the
  event of bankruptcy or liquidation. 
  Advances
  Subsequent to the quarter ended December 31, 2004 the Company advanced an
  additional $24,350 to eStrategy Solutions, Inc. against the line of credit
  agreement of $250,000, bringing the total advanced under the credit line to
  $34,350.

9

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MANAGEMENT'S DISCUSSION AND
  ANALYSIS OF RESULTS
  OF OPERATIONS AND FINANCIAL CONDITION

GENERAL
  The statements contained in this Quarterly Report on Form 10-Q that are not
  historical facts may contain forward-looking statements that involve a number
  of known and unknown risks and uncertainties that could cause actual results
  to differ materially from those discussed or anticipated by management.
  Potential risks and uncertainties include, among other factors, general
  business conditions, government regulations, manufacturing practices,
  competitive market conditions, success of the Company's business strategy,
  delay of orders, changes in the mix of products sold, availability of
  suppliers, concentration of sales in markets and to certain customers, changes
  in manufacturing efficiencies, development and introduction of new products,
  fluctuations in margins, timing of significant orders, and other risks and
  uncertainties currently unknown to management.CRITICAL ACCOUNTING POLICIES
  The Company's financial statements and related public financial information
  are based on the application of accounting principles generally accepted in
  the United States of America ("GAAP"). GAAP requires the use of estimates;
  assumptions, judgments and subjective interpretations of accounting principles
  that have an impact on the assets, liabilities, revenue and expense amounts
  reported. These estimates can also affect supplemental information contained
  in the external disclosures of the Company including information regarding
  contingencies, risk and financial condition. We believe our use of estimates
  and underlying accounting assumptions adhere to GAAP and are consistently and
  conservatively applied. We review valuations based on estimates for
  reasonableness and conservatism on a consistent basis throughout the Company.
  Primary areas where financial information of the Company is subject to the use
  of estimates, assumptions and the application of judgment include
  acquisitions, valuation of long-lived and intangible assets, and the
  realizability of deferred tax assets. We base our estimates on historical
  experience and on various other assumptions that we believe to be reasonable
  under the circumstances. Actual results may differ materially from these
  estimates under different assumptions or conditions. Valuation Of Long-Lived And Intangible Assets
  The recoverability of long lived assets requires considerable judgment and is
  evaluated on an annual basis or more frequently if events or circumstances
  indicate that the assets may be impaired. As it relates to definite life
  intangible assets, we apply the impairment rules as required by SFAS No. 121,
  "Accounting for the Impairment of Long-Lived Assets and Assets to Be Disposed
  Of" as amended by SFAS No. 144, which also requires significant judgment and
  assumptions related to the expected future cash flows attributable to the
  intangible asset. The impact of modifying any of these assumptions can have a
  significant impact on the estimate of fair value and, thus, the recoverability
  of the asset. Income Taxes
  We recognize deferred tax assets and liabilities based on the differences
  between the financial statement carrying amounts and the tax bases of assets
  and liabilities. We regularly review our deferred tax assets for
  recoverability and establish a valuation allowance based upon historical
  losses, projected future taxable income and the expected timing of the
  reversals of existing temporary differences. As of December 31,2004, we
  estimated the allowance on net deferred tax assets to be one hundred percent
  of the net deferred tax assets.Valuation of Investments
  As required by ASR 118, the investment committee of the company is required to
  assign a fair value to all investments. To comply with Section 2(a)(41) of the
  Investment Company Act and Rule 2a-4 under the Investment Company Act, it is
  incumbent upon the board of directors to satisfy themselves that all
  appropriate factors relevant to the value of securities for which market
  quotations are not readily available have been considered and to determine the
  method of arriving at the fair value of each such security. To the extent
  considered necessary, the board may appoint persons to assist them in the
  determination of such value, and to make the actual calculations pursuant to
  the board's direction. The board must also, consistent with this
  responsibility, continuously review the appropriateness of the method used in
  valuing each issue of security in the company's portfolio. The directors must
  recognize their responsibilities in this matter and whenever technical
  assistance is requested from individuals who are not directors, the directors
  must carefully review the findings of such intervals in order to satisfy
  themselves that the resulting valuations are fair.

10

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No single standard
  for determining "fair value...in good faith" can be laid down, since fair
  value depends upon the circumstances of each individual case. As a general
  principle, the current "fair value" of an issue of securities being valued by
  the board of directors would appear to be the amount which the owner might
  reasonably expect to receive for them upon their current sale. Methods, which
  are in accord with this principle, may, for example, be based on a multiple of
  earnings, or a discount from market of a similar freely traded security, or
  yield to maturity with respect to debt issues, or a combination of these and
  other methods. Some of the general factors which the directors should consider
  in determining a valuation method for an individual issue of securities
  include: 1) the fundamental analytical data relating to the investment, 2) the
  nature and duration of restrictions on disposition of the securities, and 3)
  an evaluation of the forces which influence the market in which these
  securities are purchased and sold. Among the more specific factors which are
  to be considered are: type of security, financial statements, cost at date of
  purchase, size of holding, discount from market value of unrestricted
  securities of the same class at time of purchase, special reports prepared by
  analysis, information as to any transactions or offers with respect to the
  security, existence of merger proposals or tender offers affecting the
  securities, price and extent of public trading in similar securities of the
  issuer or comparable companies, and other relevant matters.
  The board has arrived at the following valuation method for its investments.
  Where there is not a readily available source for determining the market value
  of any investment, either because the investment is not publicly traded, or is
  thinly traded, and in absence of a recent appraisal, the value of the
  investment shall be based on the following criteria:

> 1. Total amount of
>   the Company's actual investment ("AI"). This amount shall include all loans,
>   purchase price of securities, and fair value of securities given at the time
>   of exchange. 
>   2. Total revenues for the preceding twelve months ("R"). 
>   3. Earnings before interest, taxes and depreciation ("EBITD") 
>   4. Estimate of likely sale price of investment ("ESP") 
>   5. Net assets of investment ("NA") 
>   6. Likelihood of investment generating positive returns (going concern).

The estimated value
  of each investment shall be determined as follows:

- Where no or limited
  revenues or earnings are present, then the value shall be the greater of the
  investment's a) net assets, b) estimated sales price, or c) total amount of
  actual investment.
- Where revenues and/or
  earnings are present, then the value shall be the greater of one time (1x)
  revenues or three times (3x) earnings, plus the greater of the net assets of
  the investment or the total amount of the actual investment.
- Under both scenarios,
  the value of the investment shall be adjusted down if there is a reasonable
  expectation that the Company will not be able to recoup the investment or if
  there is reasonable doubt about the investments ability to continue as a going
  concern.

The Company has not
  retained independent appraisors to assist in the valuation of the portfolio
  investments because the cost was determined to be prohibitive for the current
  levels of investments.COMPANY STRATEGY
  CLX Investment Company, Inc. ("the Company" or "CLXN") was incorporated under
  the laws of Colorado under the name of Calvin Exploration Company, Inc. on
  December 12, 1977 to engage in any lawful activity as shall be appropriate
  under laws of the State of Colorado. The Company was organized to engage in
  on-shore oil and gas exploration, development and production in the
  continental United States. The Company's Oil and gas activities concentrated
  primarily in Colorado, Kansas, Oklahoma and Wyoming. In 1993 the name of the
  Company was changed to CLX Energy, Inc. Up until September 2004, the Company
  has engaged in only one industry segment and line of business, namely the
  acquisition, exploration, development and operation of oil and gas properties
  for its own account.

11

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On May 24, 2004 the
  company appointed new management and moved its headquarters to Temecula, CA.
  At the same time the Company formed CLX Oil & Gas, LLC a wholly owned
  subsidiary of CLX Energy, Inc. and transferred all of the oil and gas
  operations of the Company (including the assets and liabilities pertaining to
  such operations) into CLX Oil & Gas, LLC. On September 1, 2004 the Company
  sold 100% of its interest in CLX Oil & Gas, LLC to certain shareholders of the
  Company in exchange for shares of CLX Energy, Inc. The Board of Directors
  approved the "Securities purchase and Sale Agreement" and also obtained a
  fairness opinion from Lehrer Financial and Economic Advisory Service
  indicating that the Securities Purchase and Sale Agreement was a fair and
  equitable exchange. All Gas and Oil operations are reported as discontinued
  operations in the accompanying financial reports.
  On September 13, 2004 the Company's Board of Directors elected to be regulated
  as a business investment company under the Investment Company Act of 1940. As
  a business development company ("BDC"), the Company is required to maintain at
  least 70% of its assets invested in "eligible portfolio companies", which are
  loosely defined as any domestic company which is not publicly traded or that
  has assets less than $4 million. On September 1, 2004 the Company changes it's
  name to CLX Investment Company, Inc. to properly reflect the nature of its
  business.
  The Company made its first portfolio acquisition on December 6, 2004, by
  entering into an agreement to acquire 40% of eStrategy Solutions, Inc., a
  four-year-old e-learning and cost recovery solutions company, in exchange for
  $60,000 and an agreement to provide an operating line of credit of $250,000.
  eStrategy Solutions, Inc is the Company's only portfolio investment at
  December 31, 2004. Investment Strategy
  CLX Investments Company, Inc. intends to make strategic investments in
  cash-flow positive companies with perceived growth potential. The Investment
  Committee has adopted a charter wherein these two criteria will be weighed
  against other criteria including strategic fit, investment amount, management
  ability, etc. In principle, the Company will prefer to make investments in
  companies where the Company can acquire at least a 51% ownership interest in
  the outstanding capital of the portfolio company, or exert some other
  management control.
  As a Business Development Company, the Company is required to have at least
  70% of its assets in "eligible portfolio companies." It is stated in the
  Investment Committee Charter that the Company will endeavor to maintain this
  minimum asset ratio. Portfolio Investments
  The Company presently has one portfolio investment: eStrategy Solutions, Inc.,
  a Texas corporation specializing in the development, and marketing of
  e-learning software solutions. The Company owns 40% of the common stock of
  eStrategy Solutions, Inc., which it acquired in exchange for cash and an open
  line of credit. eStrategy Solutions already has training software in place but
  is projecting a late January completion date for its expanded content delivery
  platform, which is expected to significantly increase the user capacity of its
  training programs. The implementation of this new platform is expected to
  allow the company to expand its customer base and grow revenues unfettered by
  current system limitations.
  The Texas Department of Information Resources has recently renewed its
  contract to engage the services of eStrategy Solutions. Under the terms of the
  contract, eStrategy Solutions can be retained by agencies to serve as the
  provider for agency defined training courses via web-based training. The
  contract includes development costs, notification to participants, delivery,
  testing, and management reporting, encompassing all state agencies, all
  institutions of higher learning, all independent school districts, counties
  and municipalities. To date, there have been several thousand deliveries
  covering over 20 courses. In addition to delivery, eStrategy Solutions
  provides completion documentation and management reports. 
  In the State of Texas, eStrategy Solutions has focused its business strategy
  on a large market niche that has a clear need for low-cost, highly effective
  e-learning programs. eStrategy Solutions has proven a new unique sales and
  pricing model that targets a defined portion of overlooked clients. By
  focusing on thousands of licensing, regulatory agencies and certificate
  granting organizations, eStrategy Solutions offers enterprise level software
  features at low-cost, and it further creates a cost-recovery method which
  produces funds needed to deploy a robust e-learning system. An example of this
  cost-recovery method is at work with the Texas Board of Chiropractic Examiners
  (CE). This agency chose eStrategy Solutions to host the learning system at no
  cost, convert the mandatory CE course to an attractive web based delivery to
  thousands of chiropractic professionals. The convenience of online secure
  payment and 24-hour access to courses become a source of savings for the user
  and eStrategy simply splits the revenue with the agency.

12

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eStrategy Solution's
  market is not just limited to Texas. The model that has been developed in
  Texas is applicable to all the other states as well. The market potential for
  e-learning is in the billions of dollars and eStrategy Solutions is expected
  to grow and capture a significant percentage of its specific market segment.RESULTS OF OPERATIONSQuarter ended December 31, 2004 compared to quarter ended December 31, 2003
  During the quarter ended December 31, 2004, the Company incurred a net loss of
  $231,828 compared to a profit from discontinued operations of $3,145 for the
  same quarter of 2003. The current loss is primarily due to an e expense of
  $160,000 related to the beneficial conversion feature of new debentures and
  operating expenses, which were $70,538 for the quarter ended December 31,
  2004. The Company will be able to keep future operating costs at a minimum
  based on the management agreement it has in place to outsource all its
  administrative support. Interest expense for the quarter ended December 31,
  2004 was $161,340. Liquidity and Capital ResourcesThe accompanying financial statements have been prepared in conformity
  with principles of accounting applicable to a going concern, which
  contemplates the realization of assets and the satisfaction of liabilities in
  the normal course of business. The Company has incurred operating losses in
  the quarter ended December 31,2004, and some of the past years and has
  generated an accumulated deficit of $919,526. The Company requires additional
  capital to meet its operating requirements. Management plans to increase cash
  flows through the sale of securities and through the issuance of convertible
  debentures. The portfolio company, eStrategy Solution, is cash flow positive
  but will require additional funds against its line of credit to further expand
  its content delivery platform. Funds will also be required for additional
  portfolio investments. There are no assurances that such capital raising plans
  will be successful. No adjustments have been made to the accompanying
  financial statements as a result of this uncertainty. 
  As of December 31, 2004, the Company had total cash and current assets of
  $5,573 and current liabilities of $163,901. The Company generated cash for
  operations through the issuance of common stock and sale of convertible
  debentures. The debentures issued have varying terms of 60 days to 90 days,
  bear interest at 8%, and are convertible into common stock at a discount to
  market of 50% from the closing bid price on the date of conversion. Through
  December 31, 2004, the Company raised $295,000 all of which was from
  convertible debentures. Of this total, $135,000 was repaid in cash and $6,000
  was converted to common stock leaving a balance of $154,000. On September 13,
  2004, the Company filed a notification with the Securities and Exchange
  Commission of its intent to raise capital through the issuance of securities
  exempt from registration under Regulation E of the Securities Act of 1933.
  This exemption allows the Company to sell up to $5,000,000 of securities
  exempt from registration. Subsequent to December 31, 2004 the company raised
  another $100,000 by issuing convertible debentures under the same terms and
  converted $16,000 of convertible debentures into 1,600,000 shares of free
  trading common stock. There is no assurance that the Company will be able to
  raise any additional funds through the issuance of the remaining convertible
  debentures or that any funds made available will be adequate for the Company
  to continue as a going concern. Further, if the Company is not able to
  generate positive cash flow from operations, or is unable to secure adequate
  funding under acceptable terms, there is substantial doubt that the company
  can continue as a going concern. RISKS AND UNCERTAINTIES
  An investment in the Company involves a high degree of risk. In addition to
  matters discussed elsewhere in this report, careful consideration should be
  given to the following risk factors. This report contains certain
  forward-looking statements that involve risks and uncertainties. Our actual
  results could be substantially different from the results we anticipate in
  these forward-looking statements because of one or more of the factors
  described below and/or elsewhere in this report. If any of these risks were to
  actually occur, our business, results of operations and financial condition
  would likely suffer materially. The risks outlined below are those which
  management believes are material to an understanding of our business and the
  risks inherent in it, but such list is not exclusive of every possible risk
  which may impact the Company and its shareholders in the future. Additional
  risks and uncertainties not presently known to us or that we currently deem
  immaterial may also appear or increase in significance, and could therefore
  impair our projected business results of operations and financial condition.
  Risks Related to Our Business
  Our future operating results are subject to a number of risks, including our
  ability or inability to implement our strategic plan and to raise sufficient
  financing as required. Inability of our management to guide growth
  effectively, including implementing appropriate systems, procedures and
  controls, could have a material adverse effect on our business, financial
  condition and operating results.

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Our future growth
  depends on the addition of portfolio companies that are cash flow positive and
  can contribute to the overall growth of the Company. The Company has a plan to
  implement acquisitions and is presently evaluating several companies to see if
  they will fit the criteria that have been established. The future performance
  of the companies acquired will determine if these evaluations were correct.
  And although part of the process is to evaluate the history of the companies
  to determine stability in their respective industries there is no assurance
  that this stability will continue. Change in revenue or expense projections or
  even changes in the industry that cannot be adjusted to will could adversely
  affect performance. We require additional funds to support our business operations.
  We require additional capital in order to implement our current business plan
  as contemplated in this report. CLX Investment Company intends to attempt to
  raise funds during the second fiscal quarter of 2005 through the issuance of
  convertible debentures and the sale stock exempt from registration to
  accredited investors. If we are unable to raise the necessary capital we
  require, which we estimate to be a minimum of $500,000 and not more than
  $2,000,000, then we may not be able to operate our business in the manner
  described in this report. Our inability to raise the funds we require, when we
  require them and on terms that are reasonably acceptable to our management,
  would have a materially adverse effect upon our ability to maintain and grow
  our business. If we do raise the funds we require to grow the business, it could result
  in substantial dilution to our existing shareholders.
  To the extent that much of our financing will be raised through the issuance
  of convertible debentures, stock will be issued at a discount to the market
  upon conversion of the debt resulting in substantial dilution to our existing
  shareholders which is disproportionate to the value of the funds received by
  us in such transaction. There is no guarantee that additional financing will
  be available to us on acceptable terms when needed, or at all. Our failure to effectively manage our growth could have a material adverse
  effect on our business.
  We expect our business to grow rapidly. Such growth will place a significant
  strain on our management systems and resources. We will need to continue to
  improve our operational and financial systems and managerial controls and
  procedures, and we will need to continue to expand, train and manage our
  workforce. If we are unable to retain key personnel or attract new personnel, it could
  have a material adverse effect on our business.
  The loss of services of any of our key personnel or our inability to
  successfully attract and retain qualified personnel in the future would have a
  material adverse effect on our business. We do not maintain key person life
  insurance on any of our employees. Risks Related To Our IndustryLaws and regulations may prohibit or severely restrict our ability to raise
  capital.
  Various government agencies in the United States and throughout the world
  regulate capital raising practices. If we are unable to continue our business
  in our existing manner then we may not be able to acquire additional portfolio
  investments, which would hamper or even cause our business to fail.
  Additionally, government agencies and courts may use their powers and
  discretion in interpreting and applying laws in a manner that limits our
  ability to operate or otherwise harm our business. Also, if any governmental
  authority brings a regulatory enforcement action against us that interrupts
  our ability to raise capital, or which results in a significant fine or
  penalty assessed against us, our business could suffer. CONTROLS AND PROCEDURES.
  As required by Rule 13a-15 under the Securities Exchange Act of 1934 (the
  Exchange Act"), we carried out an evaluation of the effectiveness of the
  design and operation of our disclosure controls and procedures within the 90
  days prior to the filing date of this report. This evaluation was carried out
  under the supervision and with the participation of the Company's Chief
  Executive Officer and Chief Financial Officer, Mr. Shane Traveller. Based upon
  that evaluation, the Company's Chief Executive Officer and Chief Financial
  Officer concluded that our disclosure controls and procedures are effective in
  timely alerting management to material information relating to us and required
  to be included in our periodic SEC filings. There have been no significant
  changes in our internal controls or in other factors that could significantly
  affect internal controls subsequent to the date we carried out our evaluation.

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Disclosure controls
  and procedures are controls and other procedures that are designed to ensure
  that information required to be disclosed in our reports filed or submitted
  under the Exchange Act is recorded, processed, summarized and reported, within
  the time periods specified in the Securities and Exchange Commission's rules
  and forms. Disclosure controls and procedures include, without limitation,
  controls and procedures designed to ensure that information required to be
  disclosed in our reports filed under the Exchange Act is accumulated and
  communicated to management, including our Chief Executive Officer and Chief
  Financial Officer, to allow timely decisions regarding required disclosures.

15

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PART II.
 
  Other Information 
  Item 1.Legal Proceedings

> None

Item 2. Changes in Securities

> This quarter, 600,000 shares of common stock were issued in payment of $6,000
>   of convertible debentures under a Regulation E exemption.

Item 3. Defaults Upon Senior Securities

> None

Item 4.Submission of Matters to Vote of Security Holders

> None

Item 5. Other Information

> None

Item 6.Exhibits and Reports on Form 8-K

> Item 4.01 Changes in
>   Registrant's Certifying Account
>   On December 29, 2004, the company engaged HJ & Associates as certifying
>   accountants. 
>   ( Form 8-K was received on January 3, 2005)
>   99.1 Chief Executive Officer Certification as Adopted Pursuant to Section 302
>   and 906 of the Sarbanes-Oxley Act of 2002. 
>   99.2 Chief Financial Officer Certification as Adopted Pursuant to Section 302
>   and 906 of the Sarbanes-Oxley Act of 2002.

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SIGNATURE PAGE

In accordance with the
  requirements of the Exchange Act, the registrant caused this report to be
  signed on its behalf by the undersigned, thereunto duly authorized.

|Dated: January 25, 2005 | CLX Investment Company, Inc.By:/s/ Shane H. Traveller
      Shane H. Traveller
      Chief Executive Officer
|----------------------- | ------------------------------------------------------------------------------------------------------------







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CLX Investment Company, Inc.
  a Colorado Corporation
  CERTIFICATION OF CHIEF EXECUTIVE OFFICER

I, Shane
  H. Traveller, certify that: 
  1. I have reviewed this quarterly report on Form 10-Q of CLX Investment Company,
  Inc.;
  2. Based on my knowledge, this quarterly report does not contain any untrue
  statement of a material fact or omit to state a material fact necessary to
  make the statements made, in light of the circumstances under which such
  statements were made, not misleading with respect to the period covered by
  this quarterly report; 
  3. Based on my knowledge, the financial statements, and other financial
  information included in this quarterly report, fairly present in all material
  respects the financial condition, results of operations and cash flows of the
  registrant as of, and for, the periods presented in this quarterly report; 
  4. The registrant's other certifying officers and I are responsible for
  establishing and maintaining disclosure controls and procedures (as defined in
  Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

> a) Designed such
>     disclosure controls and procedures to ensure that material information
>     relating to the registrant, including its subsidiaries, is made known to us
>     by others within those entities, particularly during the period in which
>     this quarterly report is being prepared; 
>     b) Evaluated the effectiveness of the registrant's disclosure controls and
>     procedures as of a date within 90 days prior to the filing date of this
>     quarterly report (the "Evaluation Date"); and 
>     c) Presented in this quarterly report our conclusions about the
>     effectiveness of the disclosure controls and procedures based on our
>     evaluation as of the Evaluation Date;

5. The registrant's
  other certifying officers and I have disclosed, based on our most recent
  evaluation, to the registrant's auditors and the audit committee of
  registrant's board of directors (or persons performing the equivalent
  functions):

> a) all significant
>     deficiencies in the design or operation of internal controls which could
>     adversely affect the registrant's ability to record, process, summarize and
>     report financial data and have identified for the registrant's auditors any
>     material weaknesses in internal controls; and 
>     b) any fraud, whether or not material, that involves management or other
>     employees who have a significant role in the registrant's internal controls;
>     and

6. The registrant's
  other certifying officers and I have indicated in this quarterly report
  whether there were significant changes in internal controls or in other
  factors that could significantly affect internal controls subsequent to the
  date of our most recent evaluation, including any corrective actions with
  regard to significant deficiencies and material weaknesses. 
  Date: January 25, 2005/S/ Shane H. TravellerShane H. Traveller
  Chief Executive Officer

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CLX Investment Company, Inc.
  a Colorado Corporation
  CERTIFICATION OF CHIEF FINANCIAL OFFICER

I,
  Shane H. Traveller, certify that: 
  1. I have reviewed this quarterly report on Form 10-Q of CLX Investment
  Company, Inc.; 
  2. Based on my knowledge, this quarterly report does not contain any untrue
  statement of a material fact or omit to state a material fact necessary to
  make the statements made, in light of the circumstances under which such
  statements were made, not misleading with respect to the period covered by
  this quarterly report; 
  3. Based on my knowledge, the financial statements, and other financial
  information included in this quarterly report, fairly present in all material
  respects the financial condition, results of operations and cash flows of the
  registrant as of, and for, the periods presented in this quarterly report; 
  4. The registrant's other certifying officers and I are responsible for
  establishing and maintaining disclosure controls and procedures (as defined in
  Exchange Act Rules 13a-14 and 15d-14) for the registrant and have:

> a) designed such
>     disclosure controls and procedures to ensure that material information
>     relating to the registrant, including its subsidiaries, is made known to us
>     by others within those entities, particularly during the period in which
>     this quarterly report is being prepared; 
>     b) evaluated the effectiveness of the registrant's disclosure controls and
>     procedures as of a date within 90 days prior to the filing date of this
>     quarterly report (the "Evaluation Date"); and 
>     c) presented in this quarterly report our conclusions about the
>     effectiveness of the disclosure controls and procedures based on our
>     evaluation as of the Evaluation Date;

5. The registrant's
  other certifying officers and I have disclosed, based on our most recent
  evaluation, to the registrant's auditors and the audit committee of
  registrant's board of directors (or persons performing the equivalent
  functions):

> a) all significant
>     deficiencies in the design or operation of internal controls which could
>     adversely affect the registrant's ability to record, process, summarize and
>     report financial data and have identified for the registrant's auditors any
>     material weaknesses in internal controls; and 
>     b) any fraud, whether or not material, that involves management or other
>     employees who have a significant role in the registrant's internal controls;
>     and

6. The registrant's
  other certifying officers and I have indicated in this quarterly report
  whether there were significant changes in internal controls or in other
  factors that could significantly affect internal controls subsequent to the
  date of our most recent evaluation, including any corrective actions with
  regard to significant deficiencies and material weaknesses. 
  Date: January  25, 2005/S/ Shane H. TravellerShane H. Traveller
  Chief Financial Officer

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Exhibit 99.1

CERTIFICATION

Pursuant
  to Sections 302 and 906 of the Corporate Fraud Accountability Act of 2002 (18
  U.S.C. Section 1350, as adopted), Shane H. Traveller, Chief Executive Officer
  of CLX Investment Company, Inc. (the "Company"), hereby certifies that, to the
  best of his knowledge:
  1. the Quarterly Report on Form 10-Q of the Company for the fiscal quarter
  ended December 31, 2004 (the Report) fully complies with the requirements of
  Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m
  or 78o(d)); and 
  2. the information contained in the Report fairly presents, in all material
  respects, the financial condition and results of operations of the Company.
  
  Dated: January 25, 2005/S/Shane H. TravellerShane H. Traveller
  CHIEF EXECUTIVE OFFICER

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Exhibit 99.2

CERTIFICATION

Pursuant to Sections 302 and 906 of the Corporate Fraud Accountability Act of
  2002 (18 U.S.C. Section 1350, as adopted), Shane H. Traveller, Chief Financial
  Officer of CLX Investment Company, Inc. (the "Company"), hereby certifies
  that, to the best of his knowledge: 
  1. the Quarterly Report on Form 10-Q of the Company for the fiscal quarter
  ended December 31, 2004 (the Report) fully complies with the requirements of
  Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m
  or 78o(d)); and 
  2. the information contained in the Report fairly presents, in all material
  respects, the financial condition and results of operations of the Company.
  
  Dated: January 25, 2005

/S/Shane H. TravellerShane H. Traveller 
  CHIEF FINANCIAL OFFICER

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