----

----

|  [ x ] | Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2009 |
|-------------|----------------------------------------------------------------------------------------------------------------------------------|

|  [    ] | 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 registrant as specified in its charter) |   |

| Minnesota(State or other jurisdiction of incorporation or organization)          | 41-1596056(I.R.S. Employer Identification No.) |
|----------------------------------------------------------------------------------|------------------------------------------------|
|  3240 Aldrich Ave S Suite 301(Address of Principal Executive Offices)  | 55408(Zip Code)                                |

|                                        |  Securities registered pursuant to Section 12(b) of the Exchange Act:  None |                                            |
|---------------------------------------------|--------------------------------------------------------------------------------------------|-------------------------------------------------|
|                                        |  Securities registered pursuant to Section 12(g) of the Exchange Act:                 |                                            |
|  Title of each class    |                                                                                       |  Name of each exchange on which registered |
| Common Stock, no par value        |                                                                                       | OTC Bulletin Board                         |

----

|   |      SUBJEX CORPORATION |   |
|--------|--------------------------------------------------|--------|
|   |    FORM 10-K                      |   |
|   |  YEAR ENDED DECEMBER 31, 2009               |   |

|                                                                       |  TABLE OF CONTENTS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |             |
|----------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------|
|                                                                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |             |
|  ITEM                                        |   PART I                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |   PAGE |
|                                                                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |             |
|  1.                                                    |  Business                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               | 1                |
|  1A.                                                   |  Risk Factors                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |  2          |
|  1B.                                                   |  Unresolved Staff Comments                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |  2          |
|  2.                                                    |  Description of Property                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |  3          |
|  3.                                                    |  Legal Proceedings                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |  3          |
|  4.                                                                   |  Submission of Matters to a Vote of Security Holders                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  3          |
|                                                                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |             |
|                                                                       |  PART II                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |             |
|                                                                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |             |
|  5.                                                    |  Market for Registrant’s Common Equity, Related Stockholder Matters & Issuer Purchases of  Equity Securities                                                                                                                                 |  3          |
|  6.                                               |  Selected Financial Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |  4          |
|  7.                                               |  Management's Discussion & Analysis of Financial Condition and Results of Operations                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |  4          |
|  7A.                                                        |  Quantitative and Qualitative Disclosures about Market Risk                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  4          |
|  8.                                               |  Financial Statements & Supplementary Data                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |  4          |
|  9.                                                         |  Changes in and Disagreements with Accountants on Accounting and Financial Disclosure                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |  5          |
|    9A.(T).          |  Controls and Procedures                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |  5          |
|  9B.                                                   |  Other Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |  6          |
|                                                                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |             |
|                                                                       |  PART III                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |             |
|                                                                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |             |
|  10.                                              |  Directors, Executive Officers, and Corporate Governance                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |  6          |
|  11.                                                             |  Executive Compensation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |   7    |
|  12.                                                        |  Security Ownership of Certain Beneficial Owners and Management and Related Shareholder  Matters.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  8          |
|  13.                                                   |  Relationships and Related Transactions, and Director Independence                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |  8          |
|  14                                                    |  Principal Accountant Fees and Services                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |  9          |
|  15                                                                   |  Exhibits, Financial Statement Schedules                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |  9          |
|  16                                                                   |  Signatures                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |  9          |
|                                                                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |             |
|                                                                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |             |
|                                                                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |             |
|                                                                       |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |             |

----

|    |         |
|--------------|--------------------------------------------|

|   |         |
|--------|--------------------------------------------|

----

----

|   |  PART II |   |
|--------|---------------|--------|

| (a)   | Market Information |
|-----------------|--------------------|

| First  | $0.03   | $0.0151 |
|--------|---------|---------|
| Second | $0.02   | $0.005  |
| Third  | $0.029  | $0.01   |
| Fourth | $0.0185 | $0.005  |

| First  |                                          $0.04 |                                       $0.01 |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Second |                                          $0.04 |                                      $0.01       |
| Third  |                                          $0.05 |                                       $0.01 |
| Fourth |                                          $0.04 |                                       $0.02 |

| (a)   | Record Holders |
|-----------------|----------------|

----

| (b)   | Dividends |
|-----------------|-----------|

| (c)   | Recent Sales of Unregistered Securities |
|-----------------|-----------------------------------------|

----

|   | Evaluation of Disclosure Controls and Procedures |
|--------|--------------------------------------------------|

----

|   |    PART III |   |
|--------|----------------------------|--------|

| Paul  W. Peterson | 60       | Director                                                               |
|-----------------------------|----------|------------------------------------------------------------------------|
| Andrew D. Hyder             |  43 | Director, Chairman of the Board, Chief Executive Officer and President |
| Sharon R. Hyder             | 66       | Director                                                          |

----

|  Name andPrincipal Position                           |   Year |   Salary  |   Bonus (1) |   Option Awards (2) | Non-Equity Incentive Plan Compensation  |  All Other Compensation |   Total |
|------------------------------------------------------------|------------------|--------------------------|-----------------------|-------------------------------|----------------------------------------------|------------------------------|-------------------|
| Andrew D. HyderChief Executive Officer and President  | 2009             | $0                       | $0                    | $0                            | $0                                           | $0                           | $0                |

|                    | Option Awards (1)                                            |
|------------------------------|--------------------------------------------------------------|
|     Name | NumberofSecurities Underlying Unexercised OptionsExercisable |  Number of Securities Underlying Unexercised OptionsUnexercisable |     Option Exercise Price  |     Option Expiration Date |
|  Andrew D. Hyder        |  2,500                                                  |  0 |  n/a |  n/a |

|   | (1)   All options granted pursuant to our 1999 Stock Option and Stock Award Plan, as amended. |
|--------|--------------------------------------------------------------------------------------------------------------|

----

| Name of Beneficial Owner                          | Shares of Common Stock Beneficially Owned (#) | Percentage of Common Stock BeneficiallyOwned (%) (1) |
|---------------------------------------------------|-----------------------------------------------|------------------------------------------------------|
| Andrew D. Hyder                                   |      27,500 (2)           |   .013%*                                   |
| Sharon R. Hyder                                   |      15,683 (3)           |  .008% *                                        |
| Paul W Peterson                                   | 1,100,000 (3)                                 | .55% *                                               |
| All officers and directors as a group (3 persons) | 1,115,683 (4)                                 | .571%*                                               |

|   | * Less than 1%. |
|--------|-----------------|

|  (1) | Beneficial ownership is determined in accordance with SEC rules, and includes any shares as to which the security or stockholder has sole or shared voting power or investment power, and also any shares which the security or stockholder has the right to acquire within 60 days of the date hereof, whether through the exercise or conversion of any stock option, convertible security, warrant or other right.  The indication herein that shares are beneficially owned is not an admission on the part of the security or stockholder that he, she or it is a direct or indirect beneficial owner of those shares. |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  (2) | Includes shares of common stock issuable upon exercise of options to purchase an aggregate of 2,500 shares of common stock that are currently exercisable or will become exercisable within the next 60 days.  Also includes 25,000 shares of common stock held by Mr. Hyder’s daughter, whom Mr. Hyder disclaims any beneficial ownership interest to, except to the extent of his pecuniary interest therein. |
|-----------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  (3) | Directors |
|-----------|-----------|

|  (4)   | All officers and directors as a group |
|-----------------------|---------------------------------------|

|   | The following table sets forth, as of December 31, 2009, the (i) number of securities to be issued upon the exercise of outstanding options, warrants and rights issued under the equity compensation plans, (ii) the weighted average exercise price of such options, warrants and rights, (each as converted pursuant to the merger).  All outstanding options identified herein are governed by the terms of the Company’s 1999 Stock Option and Stock Award Plan, as amended. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                             |  Number of securities to be issued upon exercise of outstanding options, warrants and rights(a) |  Weighted -average price of outstanding options, warrants and rights(b) | Number of securities remaining available for future issuance under equity compensation plan (excluding (a))(c) |
|------------------------------------------------------------------|------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------|
| Equity compensation plans not approved by security holders  |   176,000                                                                                  |   $0.17                                                            |   -                                                                                                  |
|       Total                   | 176,000                                                                                         | $0.17                                                                   | -                                                                                                              |

----

|       | 2009    | 2008    |
|------------|---------|---------|
| Audit fees | $15,500 | $20,550 |

| Signature                          | Title             | Date           |
|------------------------------------|-------------------|----------------|
| /s/ Andrew D. HyderAndrew D. Hyder | President and CEO | April 27, 2010 |
|                               |              |           |
|                               |              |           |

----

----

----

|                                                                                                                                                                |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |   |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------|--------|--------|
| SUBJEX CORPORATION                                                                                                                                                  |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |
| BALANCE SHEETS                                                                                                                                                      |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |
| AS OF DECEMBER 31, 2009 AND 2008                                                                                                                                    |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |
|                                                                                                                                                                |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |   |   |
|                                                                                                                                                                |                                                            |                                                                                                                      |                                                                                                                      | Decmeber 31, 2009                                                                                     | December 31, 2008                                                                                     |
|                            ASSETS |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |
| Current Assets                                                                                                                                                      |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |
|                                                                                                                                                                | Cash and cash equivalents                                       |  $              147                            |                                                                                                                      |  $             1,546            |                                                                                                  |
|                                                                                                                                                                | Accounts receivable                                             |                     - |                                                                                                                      |                 3,011 |                                                                                                  |
|                                                                                                                                                                |                                                            | Total current assets                                                                                                      |                  147                 |                                                                                                  |                 4,557 |   |
|                                                                                                                                                                |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |   |   |
| Other Assets                                                                                                                                                        |                                                            |                                                                                                                      |                     - |                                                                                                  |                 2,611 |   |
|                                                                                                                                                                |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |   |   |
|                                                                                                                                                                |                                                            | Total assets                                                                                                              |  $              147                            |                                                                                                  |  $             7,168            |   |
|                                                                                                                                                                |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |   |   |
|                                                                                                                                                                |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |   |   |
| LIABILITIES AND STOCKHOLDERS' DEFICIT                                                                                                                               |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |
|                                                                                                                                                                |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |   |   |
| Current Liabilities                                                                                                                                                 |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |
|                                                                                                                                                                | Short-term notes payable                                        |  $         17,677                                                       |                                                                                                                      |  $           19,177                       |                                                                                                  |
|                                                                                                                                                                | Subordinated convertible notes payable                          |             23,000                                            |                                                                                                                      |               23,000            |                                                                                                  |
|                                                                                                                                                                | Accounts payable                                                |                                                                                                                      |           224,017                                                       |                                                                                                  |             184,087                       |   |
|                                                                                                                                                                | Accrued expenses:                                               |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |   |
|                                                                                                                                                                |                                                            | Accrued expenses-related party                                                                                            |           629,903                                                       |                                                                                                  |             206,956                       |   |
|                                                                                                                                                                |                                                            | Payroll and payroll taxes                                                                                                 |             18,266                                            |                                                                                                  |               38,085            |   |
|                                                                                                                                                                |                                                            | Accrued interest                                                                                                          |             27,589                                            |                                                                                                  |               25,320            |   |
|                                                                                                                                                                |                                                            | Accrued expenses                                                                                                          |               4,207                                 |                                                                                                  |                 3,947 |   |
|                                                                                                                                                                |                                                            | Total current liabilities                                                                                                 |           944,659                                                       |                                                                                                  |             500,572                       |   |
|                                                                                                                                                                |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |   |   |
|                                                                                                                                                                |                                                            | Total liabilities                                                                                                         |           944,659                                                       |                                                                                                  |             500,572                       |   |
|                                                                                                                                                                |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |   |   |
| Stockholders' Deficit                                                                                                                                               |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |
|                                                                                                                                                                | Common stock, no par or stated value;                           |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |
|                                                                                                                                                                |                                                            | 100,000,000 shares authorized: 99,903,131 and                                                                             |                                                                                                                      |                                                                                                  |                                                                                                  |   |
|                                                                                                                                                                |                                                            | 99,497,720 shares issued and outstanding at                                                                               |                                                                                                                      |                                                                                                  |                                                                                                  |   |
|                                                                                                                                                                |                                                            | December 31, 2009 and December 31, 2008, respectively                                                                     |        6,215,609                                                                       |                                                                                                  |          6,505,147                                       |   |
|                                                                                                                                                                | Accumulated deficit                                             |       (7,160,121)                                                                           |                                                                                                                      |        (6,998,551)                                                 |                                                                                                  |
| Total stockholders' deficit                                                                                                                                         |          (944,512) |                                                                                                                      |           (493,404)                                                     |                                                                                                  |
|                                                                                                                                                                |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |   |   |
|                                                                                                                                                                | Cash and cash equivalents at end of year                        |  $              147                            |                                                                                                                      |  $             7,168            |                                                                                                  |
|                                                                                                                                                                |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |   |   |
|                                                                                                                                                                |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |   |   |
| The accompanying notes are an integral part of these financial statements.                                                                                          |                                                            |                                                                                                                      |                                                                                                                      |
|                                                                                                                                                                |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |   |   |
|                                                                                                                                                                |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |   |   |
|                                                                                                                                                                |                                                            |                                                                                                                      |                                                                                                                      |                                                                                                  |                                                                                                  |   |   |

----

| SUBJEX CORPORATION                                                         |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |   |   |
|----------------------------------------------------------------------------|---------------------------------------------------------------------------------|---------------------------------------------------------------------------------|---------------------------------------------------------------------------------|---------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|
| STATEMENTS OF OPERATIONS                                                   |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |   |   |
| FOR THE YEARS ENDED DECEMBER 31, 2009 AND 2008                             |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |
|                                                                       |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |   |   |
|                                                                       |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |   |   |
|                                                                       |                                                                            | For the year ended December 31, 2009                                            | For the year ended December 31, 2008                                            |                                                                            |   |   |   |
|                                                                       |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |   |   |
|                                                                       |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |   |   |
| REVENUES                                                                   |                                                                            |  $         11,025             |                                                                            |  $           3,585  |   |   |   |   |   |   |   |
|                                                                       |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |   |   |
| EXPENSES                                                                   |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |   |   |
| Selling, general and administrative                                        |                                                                            |           169,639             |                                                                            |           306,303             |   |   |   |   |   |   |   |
|                                                                       |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |   |   |
| TOTAL OPERATING EXPENSES                                                   |                                                                            |           169,639             |                                                                            |           306,303             |   |   |   |   |   |   |   |
|                                                                       |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |   |   |
| OPERATING LOSS                                                             |                                                                            |         (158,614)                       |                                                                            |         (302,718)                       |   |   |   |   |   |   |   |
|                                                                       |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |   |   |
| OTHER INCOME (EXPENSE)                                                     |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |   |   |
| Interest expense                                                           |                                                                            |             (2,956) |                                                                            |             (4,404) |   |   |   |   |   |   |   |
|                                                                       |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |   |   |
| NET LOSS                                                                   |                                                                            |  $     (161,570)                                  |                                                                            |  $     (307,122)                                  |   |   |   |   |   |   |   |
|                                                                       |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |   |   |
| NET LOSS PER SHARE: BASIC AND DILUTED                                      |  $           (0.00) |                                                                            |  $           (0.00) |                                                                            |   |   |   |   |   |   |
|                                                                       |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |   |   |
| WEIGHTED AVERAGE NUMBERS OF SHARES OUTSTANDING: BASIC AND DILUTED          | 99,682,409                                                                      |                                                                            | 99,274,793                                                                      |                                                                            |   |   |   |   |   |   |
|                                                                       |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |   |   |
|                                                                       |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |   |   |
|                                                                       |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |   |   |
| The accompanying notes are an integral part of these financial statements. |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |
|                                                                       |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |   |   |
|                                                                       |                                                                            |                                                                            |                                                                            |                                                                            |   |   |   |   |   |   |   |

----

----

| SUBJEX CORPORATION                                                               |                                                 |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |
|----------------------------------------------------------------------------------|------------------------------------------------------|-----------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| STATEMENTS OF CASH FLOWS                                                         |                                                 |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |
| FOR THE YEARS ENDED DECEMBER 31, 2009 AND 2008                                   |                                                 |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |
|                                                                             |                                                 |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             |                                                 |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             |                                                 |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |                                                                                              | For the year ended December 31, 2009                                                              | For the year ended December 31, 2008                                                              |   |   |   |   |   |   |   |   |   |   |   |
| Cash flows from operating activities:                                            |                                                 |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             | Net loss for the period                              |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |  $   (161,570)                                                                      |                                                                                              |  $  (307,122)                                                                      |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             | Adjustments to reconcile net loss to                 |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             | net cash flows from operating activities:            |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             | Depreciation and amortization                        |                                                                                          |                                                                          |                                                                                                    |                  - |                                                                                                    |           5,017                                 |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             | Court order settled with issuance of common stock    |                                                                                          |           73,000            |                                                                                                    |                 -       |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |
|                                                                             | Non cash common stock issued for consulting services |                250 |                                                                          |         57,400                                                  |                                                                                                    |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |
|                                                                             | Changes in operating assets and liabilities:         |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             | Accounts receivable                                  |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |             3,011                           |                                                                                              |          (1,494)                                     |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             | Prepaid expenses                                     |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                  - |                                                                                              |         37,500                                            |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             | Accounts payable                                     |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |           39,930                                      |                                                                                              |         23,455                                            |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             | Accrued expenses                                     |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                260           |                                                                                              |              314                 |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             | Accrued expenses-related party                       |                                                                                          |                                                                          |                                                                                                    |         422,947                                                 |                                                                                                    |       175,950                                                       |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             | Payroll and payroll taxes payable                    |                                                                                          |                                                                          |                                                                                                    |         (19,819)                                                |                                                                                                    |         24,702                                            |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             | Accrued interest                                     |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |             2,269                     |                                                                                              |           2,268                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             | Short-term note payable                              |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |           (1,500)                                     |                                                                                              |                 - |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net cash flows used in operating activities                                      |                                                 |                                                                                          |                                                                          |         358,778                                                 |                                                                                                    |         17,990                                                  |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             |                                                 |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash flows from investing activities:                                            |                                                 |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             | Deposits                                             |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |             2,611                     |                                                                                              |                 - |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net cash flows used in investing activities                                      |                                                 |                                                                                          |                                                                          |             2,611                           |                                                                                                    |                 -       |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             |                                                 |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash flows from financing activities:                                            |                                                 |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             | Proceeds from issuance of common stock               |                                                                                          |                                                                          |           87,900                                      |                                                                                                    |       185,339                                                             |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             | Subscriptions received                               |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                  - |                                                                                              |        (10,000)                                                |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             | Shares retired-related party                         |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |       (438,688)                                                           |                                                                                              |      (200,000)                                                           |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             | Shares retired- unrelated party                      |                                                                                          |                                                                          |                                                                                                    |         (12,000)                                                |                                                                                                    |                 - |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             | Payment received from notes receivable               |                                                                                          |                                                                          |                  - |                                                                                                    |           1,000                                       |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             | Payment on notes payable                             |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                  - |                                                                                              |          (8,000)                                     |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net cash flows used in financing activities                                      |                                                 |                                                                                          |                                                                          |       (362,788)                                                           |                                                                                                    |        (31,661)                                                      |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             |                                                 |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net decrease in cash and equivalents                                             |                                                 |                                                                                          |                                                                          |           (1,399)                                     |                                                                                                    |        (13,671)                                                      |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |
| Cash and cash equivalents at beginning of year                                   |                                                 |                                                                                          |             1,546 |                                                                                                    |         15,217                                                  |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |
|                                                                             |                                                 |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash and cash equivalents at end of year                                         |                                                 |                                                                                          |                                                                          |  $            147                      |                                                                                                    |  $       1,546                                                  |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             |                                                 |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                             |                                                 |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  The accompanying notes are an integral part of these financial statements. |                                                 |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |
|                                                                             |                                                 |                                                                                          |                                                                          |                                                                                                    |                                                                                                    |                                                                                                    |                                                                                              |                                                                                              |                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----

|                       |                                              |                                                       |                                                                                       |                                                       |                                                                                       |                                             |                                                                  |                                           |                                                               |
|----------------------------|---------------------------------------------------|------------------------------------------------------------|--------------------------------------------------------------------------------------------|------------------------------------------------------------|--------------------------------------------------------------------------------------------|--------------------------------------------------|-----------------------------------------------------------------------|------------------------------------------------|--------------------------------------------------------------------|
|                       |                                              |                                                       | STATEMENT OF STOCKHOLDERS' DEFICIT                                                         |                                                       |                                                                                       |
|                       |                                              |                                                       |                                                                                       |                                                       |                                                                                       |                                             |                                                                  |                                           |                                                               |
|                       |                                              |                                                       |  YEARS ENDED DECEMBER 31, 2009 AND 2008                                               |                                                       |                                                                                       |
|                       |                                              |                                                       |                                                                                       |                                                       |                                                                                       |                                             |                                                                  |                                           |                                                               |
|                       |                                              |                                                       | Common Stock                                                                               |                                                       |                                                                                       |                                             |  Accumulated                                                     |                                           | Stockholders'                                                      |
|                       |                                              |                                                       | Shares                                                                                     |                                                       | Amount                                                                                     |                                             | Deficit                                                               |                                           |  Deficit                                                      |
|                       |                                              |                                                       |                                                                                       |                                                       |                                                                                       |                                             |                                                                  |                                           |                                                               |
| Balance, December 31, 2007 |                                              |         85,435,166 |                                                                                       |  $       6,472,408 |                                                                                       |  $     (6,691,429) |                                                                  |  $     (219,021) |
|                       |                                              |                                                       |                                                                                       |                                                       |                                                                                       |                                             |                                                                  |                                           |                                                               |
|                       | Common stock issuance                             |                                                       | 15,662,554                                                                                 |                                                       | 185,339                                                                                    |                                             |                                                                  |                                           | 185,339                                                            |
|                       |                                              |                                                       |                                                                                       |                                                       |                                                                                       |                                             |                                                                  |                                           |                                                               |
|                       | Common stock issuance for consulting services     |                                                       | 2,400,000                                                                                  |                                                       | 57,400                                                                                     |                                             |                                                                  |                                           | 57,400                                                             |
|                       |                                              |                                                       |                                                                                       |                                                       |                                                                                       |                                             |                                                                  |                                           |                                                               |
|                       | Shares retired-Related party                      |                                                       |         (4,000,000)                                |                                                       |            (200,000)                |                                             |                                                                  |                                           |        (200,000)                |
|                       |                                              |                                                       |                                                                                       |                                                       |                                                                                       |                                             |                                                                  |                                           |                                                               |
|                       | Subscription received                             |                                                       |                                                                                       |                                                       |              (10,000)     |                                             |                                                                  |                                           |          (10,000)     |
|                       |                                              |                                                       |                                                                                       |                                                       |                                                                                       |                                             |                                                                  |                                           |                                                               |
|                       | Net Loss                                          |                                                       |                                                                                       |                                                       |                                                                                       |                                             |           (307,122) |                                           |        (307,122)                |
|                       |                                              |                                                       |                                                                                       |                                                       |                                                                                       |                                             |                                                                  |                                           |                                                               |
| Balance, December 31, 2009 |                                              |         99,497,720 |                                                                                       | 6,505,147                                                  |                                                                                       | (6,998,551)                                      |                                                                  |  $     (493,404) |
|                       |                                              |                                                       |                                                                                       |                                                       |                                                                                       |                                             |                                                                  |                                           |                                                               |
|                       | Common stock issuance                             |                                                       |          7,359,167                            |                                                       |               87,900 |                                             |                                                                  |                                           |           87,900 |
|                       |                                              |                                                       |                                                                                       |                                                       |                                                                                       |                                             |                                                                  |                                           |                                                               |
|                       | Common stock issuance for consulting services     |                                                       |               10,000 |                                                       | 250                                                                                        |                                             |                                                                  |                                           | 250                                                                |
|                       |                                              |                                                       |                                                                                       |                                                       |                                                                                       |                                             |                                                                  |                                           |                                                               |
|                       | Shares retired-Related party                      |                                                       |         (8,803,756)                                |                                                       |            (438,688)                |                                             |                                                                  |                                           |        (438,688)                |
|                       |                                              |                                                       |                                                                                       |                                                       |                                                                                       |                                             |                                                                  |                                           |                                                               |
|                       | Shares retired- consulting services               |                                                       |              (60,000)     |                                                       |              (12,000)     |                                             |                                                                  |                                           |          (12,000)     |
|                       |                                              |                                                       |                                                                                       |                                                       |                                                                                       |                                             |                                                                  |                                           |                                                               |
|                       | Common stock issuance for court orderd settlement |                                                       |          1,900,000                            |                                                       |               73,000 |                                             |                                                                  |                                           |           73,000 |
|                       |                                              |                                                       |                                                                                       |                                                       |                                                                                       |                                             |                                                                  |                                           |                                                               |
|                       | Net Loss                                          |                                                       |                                                                                       |                                                       |                                                                                       |                                             |           (161,570) |                                           |        (161,570)                |
|                       |                                              |                                                       |                                                                                       |                                                       |                                                                                       |                                             |                                                                  |                                           |                                                               |
| Balance, December 31, 2009 |                                              |         99,903,131 |                                                                                       |  $       6,215,609 |                                                                                       |  $     (7,160,121) |                                                                  |  $     (944,512) |
|                       |                                              |                                                       |                                                                                       |                                                       |                                                                                       |                                             |                                                                  |                                           |                                                               |

----

| Computers & Equipment |  3 to 5 yrs |
|---------------------------|------------------|
| Furniture                 |  5 to 7 yrs |

----

----

|                          | 2009                                                                                                                       | 2008                                                                                                     |
|-------------------------------|----------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------|
| Company Vehicle               | $           11,186                                                  | $        11,186                                                  |
| Office and Computer Equipment | 49,583                                                                                                                     | 49,583                                                                                                   |
| Furniture and Fixtures        | 14,231                                                                                                                     |   14,231                                                                                       |
| Accumulated Depreciation      | (60,192)                                                                                                                   |  (60,192)                                                                                           |
| Impairment of Fixed Assets    | (14,808)                                                                                                                   | (14,808)                                                                                                 |
| Property and Equipment, net   | $                    0 | $                 0 |

----

|                             | 2009                                                                        | 2008                                                                                                              |
|----------------------------------|-----------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------|
|                             | Shares                                                                      | WeightedAverage Exercise Price                                                                                    | Shares | Weighted Average Exercise Price |
| Outstanding at beginning of year |          12,500                |     $              0.80 |       12,500 | $        0.80 |
| Canceled/Expired                 |             (0) |      0.00                                                                                |            (0) |     0.00 |
| Outstanding at end of year       |          12,500                |      $             0.80 |          12,500 | $        0.80 |

----

|                             | 2009     | 2008                                      |
|----------------------------------|----------|-------------------------------------------|
|                             | Shares   | WeightedAverage Exercise Price            | Shares | WeightedAverage Exercise Price |
| Outstanding at beginning of year | 176,000  | $      0.40 | 101,000 | $       0.40 |
| Granted                          |     | 0.10                                      | 150,000 | 0.10 |
| Exercised                        | - -      | - -                                       | - - | - - |
| Canceled/Expired                 | (75,000) | 0.40                                      | (75,000) | 0.40 |
| Outstanding at end of year       | 101,000  | $      0.17 | 176,000 | $       0.40 |

|                | 2009                                                                                                                                                                 | 2008       |
|---------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------|
|                | Amount                                                                                                                                                               | %          | Amount | % |
| Expected Federal    | $               (54,932)                                                                  | (34%)      | $             (104,421) | (34%) |
| Expected State      |   (6,463)                                                                                                                                                  |  (4%) |     (12,285) |  (4%) |
| Valuation allowance | 61,395                                                                                                                                                               | 38%        | 116,706 | 38% |
| Total               | $                           - |       | $                           - |   |

|                                                            | 2009                                                                                               | 2008                                                                                                                 |
|-----------------------------------------------------------------|----------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------|
| Deferred tax asset relating to netoperating loss carry-forwards | $  1,970,900                                                                             | $     1,970,900                                                                             |
| Valuation allowance                                             | (1,970,900)                                                                                        | (1,970,900)                                                                                                          |
| Net deferred tax asset                                          | $                0 | $                   0 |

----

|              | Federal                                                                                                                   |
|-------------------|---------------------------------------------------------------------------------------------------------------------------|
| December 31, 2019 | $                   49,000 |
| 2020              | 1,010,000                                                                                                                 |
| 2021              | 1,051,000                                                                                                                 |
| 2022              | 778,000                                                                                                                   |
| 2023              | 300,000                                                                                                                   |
| 2024              | 280,000                                                                                                                   |
| 2025              | 464,000                                                                                                                   |
| 2026              | 348,000                                                                                                                   |
| 2027              | 1,328,000                                                                                                                 |
| 2028              | 307,000                                                                                                                   |
| 2029              | 161,000                                                                                                                   |
|              | $              6,076,000                            |

|                                 | 2009                                                                       | 2008                                                                 |
|--------------------------------------|----------------------------------------------------------------------------|----------------------------------------------------------------------|
| Cash paid during year for interest   | $            0 | $           0 |
| Cash paid during year for income tax | $            0 | $           0 |

----