UNITED
STATES SECURITIES AND EXCHANGE COMMISSION


Washington,
D.C. 20549




FORM
10-KSB AMENDED




x
            Annual
      Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of
      1934 for the fiscal year ended December 31,
2007




 ̈
            Transition
      Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of
      1934 for the transition period from
___to___




Commission
File Number  0-29711




Subjex
Corporation


(Exact
name of issuer as specified in its charter)






Minnesota
            41-1596056(State
      or other jurisdiction of incorporation or organization)
            (IRS
      Employer Identification No.)3245 Hennepin Ave S Suite 1,
      Minneapolis MN
            55408(Address
      of Principal Executive Offices)
            (Zip
      Code)




612-827-2203


(Issuer’s
telephone number)




(Former
Name, Former Address and Former Fiscal Year, if Changed Since Last
Report)





Securities registered pursuant to
Section 12(b) of the Exchange Act:None




Securities
      registered pursuant to Section 12(g) of the Exchange
  Act:Common
      Stock, no par value





Check
whether the issuer is not required to file reports pursuant to Section 13 or
15(d) of the Exchange Act.   ̈




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 past 12 months (or for
such shorter period that the issuer was required to file such reports), and (2)
has been subject to such filing requirements for the past 90
days.    Yes  x  No o




Check if
there is no disclosure of delinquent filers pursuant to Item 405 of Regulation
S-B is not contained herein, and no disclosure will be contained, to the best of
registrant’s knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-KSB or any amendment to
this Form 10-KSB.      ̈




Indicate
by check mark whether the registrant is a shell company (as defined in Rule
12b-2 of the Exchange Act). Yes  ̈   No
x












ITEM
      8A.
            Controls
      and Procedures




Internal
Control Over Financial Reporting




Since the
Company does not have an audit committee, its Board of Directors oversees the
responsibilities of the audit committee. Its members review all accounts and
figures (accounting systems) that pertain to accounting and the financial
condition of the company. This includes banking, accounts payable, stocksetc. These are then forwarded to an
out of house accounting firm who does all our accounting on Quick Books. Our
staff and the accounting firm are in contact on a daily basis.  The
accounting firm is owned by Sharon Hyder, a member of our board of directors and
the mother of the CEO, Andrew Hyder. Management believes that the fees paid to
the accounting firm are equivalent to those that would be paid for similar
services in an arm’s length transaction.






The Board
is fully aware that there is not a clear segregation of duties due to the small
number of employees dealing with general administrative and financial matters.
However, the board has determined that considering the employees involved the
control procedures in place, risks associated with such lack of segregation are
insignificant and the potential benefits of adding employees to clearly
segregate duties does not justify the expenses associated with such increases at
this time.




Evaluation
of Disclosure Controls and Procedures




Management
evaluated the effectiveness of our disclosure controls and procedures as of the
end of the period covered by this report. This evaluation was conducted by our
chief executive officer, principal accounting officer and the Board of
Directors.The term
"disclosure controls and procedures," as defined in Rules 13a-15(e) and
15d-15(e) under the Securities and Exchange Act of 1934, as amended ("Exchange
Act"), means controls and other procedures of a company that are designed to
ensure that information required to be disclosed by the company in the reports
it files or submits 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 also include,
without limitation, controls and procedures designed to ensure that information
required to be disclosed by a company in the reports that it files or submits
under the Exchange Act is accumulated and communicated to the company's
management, including its principal executive and principal financial officers,
or persons performing similar functions, as appropriate, to allow timely
decisions regarding required disclosure.





Based
upon their evaluation of our controls, the chief executive officer and principal
accounting officer have concluded that the disclosure controls are not effective
as of December 31, 2007.





Limitations
on the Effectiveness of Controls





Our
management does not expect that our disclosure controls or our internal controls
over financial reporting will prevent all error and fraud.  A control
system, no matter how well conceived and operated, can provide only reasonable,
but no absolute, assurance that the objectives of the control system are
met.  Further, any control system reflects the fact that there are
resource constraints, and the benefits of controls must be considered relative
to their costs.  Because of the inherent limitations in all control
systems, no evaluation of controls can provide absolute assurance that all
control issues and instances of fraud, if any, within the Company have been
detected.  These limitations include the realities that judgments in
decision-making can be faulty, and that breakdowns can occur because of simple
error or mistake.  Additionally, controls can be circumvented by the
individual acts of some persons, by collusion of two or more people, or by
management or board override of the control.  A design of a control
system is also based in part upon certain assumptions about potential future
conditions; over time, controls may become inadequate because of changes in
conditions, or the degree of compliance with the policies or procedures may
deteriorate.  Because of the inherent limitations in a cost-effective
control system, misstatements due to error or fraud may occur and not be
detected.







MANAGEMENT’S
REPORT OF INTERNAL CONTROLS OVER FINANCIAL REPORTING





It is the
responsibility of Subjex Corporation’s management to establish and maintain
adequate internal control over financial reporting, as such term is defined in
Rules 13a-15(f) and 15(d)-15(f) of the Securities Exchange Act of 1934, as
amended. Subjex Corporation’s internal control over financial reporting is a
process designed to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles in the
United States of America.





Internal
control over financial reporting includes policies and procedures that (1)
pertain to the daily maintenance and reconciliation of records that, in
reasonable detail, accurately and fairly reflect the transactions and
dispositions of the assets of Subjex Corporation; (2) provide reasonable
assurance that transactions are recorded as necessary to permit preparation of
financial statements in accordance with generally accepted accounting principles
in the United States of America; (3) provide reasonable assurance that receipts
and expenditures of Subjex Corporation are being made only in accordance with
authorizations of management and directors of Subjex Corporation; and (4)
provide reasonable assurance regarding prevention or timely detection of
unauthorized acquisition, use or disposition of Subjex Corporation’s assets that
could have a material effect on the financial statements. Because of its
inherent limitations, internal control over financial reporting may not prevent
or detect misstatements. Also, projections of any evaluation of effectiveness to
future periods are subject to the risk that controls may become inadequate
because of changes in conditions, or that the degree of compliance with the
policies or procedures may deteriorate.





Management
assessed the effectiveness of Subjex Corporation’s internal controls over
financial reporting as of December 31, 2007. Management based this assessment on
criteria for effective internal control over financial reporting described in
Internal Control – Integrated Framework issued by the Committee of Sponsoring
Organizations of the Treadway Commission (COSO). Management’s assessment
included an evaluation of the design of Subjex Corporation’s internal control
over financial reporting and testing of the operational effectiveness of its
internal control over financial reporting.  Based on our assessment,
management determined that for year ending December 31, 2007, our internal
controls were effective.





This
annual report on Form 10KSB does not include an attestation report of the
companies independent registered public account firm regarding internal control
over financial reporting. Management’s report was not subject to attestation by
our registered public accounting firm pursuant to temporary rules of the
securities and exchange commission that permit us to provide only managements
report in this annual report on Form 10KSB.





There
were no significant changes in our internal controls over financial
reporting   which occurred in the fourth fiscal quarter that have
materially affected, or are reasonably likely to materially affect our internal
controls over financial reporting.





Sincerely,


Andrew
Hyder


President,
Chief Executive Officer and Director


(Chief
Financial Officer and Principal Accounting Officer)





Sharon
Hyder


Director


September
19, 2008





Conclusions





The
annual report does not include an attestation report from our registered public
accounting firm (Maddox Ungar Silberstein, PLLC CPAs and Business Advisors)
regarding internal control over financial reporting. Management’s report was not
subject to attestation by our registered public accounting firm pursuant to
temporary rules of the Securities and Exchange Commission that permits Subjex
Corporation to provide only management’s report in the annual
report.







SIGNATURES





In
accordance with Section 13 or 15(d) of the Securities and Exchange Act of 1934,
the Issuer has duly caused this report to be signed on its behalf by the
undersigned officers and/or Directors, there unto duly authorized.





Subjex
Corporation


Date:  September
19, 2008





NAME
            TITLE/s/
      Andrew D. Hyder
            President,
      Chief Executive Officer, Chief Financial Officer,Director
      and Principal Accounting Officer/s/
      Sharon R. Hyder
            Director




Signature
            Title
            Date/s/
      Andrew D. Hyder
            President
      CEO, CFO, Director and Principal
            September
      19, 2008Andrew
      D. Hyder
            Accounting
      Officer/s/
      Sharon R. Hyder
            Director
            September
      19, 2008Sharon
      R. Hyder








In
accordance with the Securities Exchange Act, this report has been signed below
by the following persons on behalf of Subjex Corporation and in the capacities
and on the dates indicated.




Subjex
Corporation


Date:  September
19, 2008





NAME
            TITLE/s/
      Andrew D. Hyder
            President,
      Chief Executive Officer, Chief Financial Officer,Director
      and Principal Accounting Officer/s/
      Sharon R. Hyder
            DirectorSharon
      R. Hyder




Signature
            Title
            Date/s/
      Andrew D. Hyder
            President
      CEO, CFO, Director and Principal
            September
      19, 2008Andrew
      D. Hyder
            Accounting
      Officer/s/
      Sharon R. Hyder
            Director
            September
      19, 2008Sharon
      R. Hyder