8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 31, 2010

LEXON TECHNOLOGIES INC.
(Exact name of registrant as specified in its charter)

Delaware	0-24721	87-0502701
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	File Number)	Identification No.)

14830 Desman Road
La Mirada, CA 90638
(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (714) 522-0260

_____________________________________________
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))

1

SECTION 1 - REGISTRANT’S BUSINESS AND OPERATIONS

ITEM 1.01 Entry into a Material Definitive Agreement.

See Item 2.01

SECTION 2 - FINANCIAL INFORMATION

ITEM 2.01. Completion of Acquisition or Disposition of Assets.

Sale of Paragon Toner Inc.

On December 31, 2010 Whereas 15,069 shares of Paragon Toner Inc. representing 100% ownership of Paragon Toner Inc. in exchange for existing Lexon Technology Inc. shares specifically 166,300,000 shares held by James Park and 66,700,000 shares held by Young Won for a total of 200,000,000 shares of Lexon Technologies.

The internet properties namely 7inkjet.com, nanoninket.com and Yourcartridges.com will remain with Lexon Technologies Inc, and will become the main operation of the company.

The ratio for the stock exchange is 13,722 shares of Lexon Technology for 1 share of Paragon Toner Inc.

It is noted that Mr. James Park and Mr. Young Won are both currently officers and directors of the Company.

Exhibits

99.1	Purchase Agreement
99.2	Shareholder Resolution

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	LEXON TECHNOLOGIES INC.
Date: January 5, 2011	By:	/s/ James Park
		James Park
		CEO

EX-99.1

PURCHASE AGREEMENT

THIS AGREEMENT ("Agreement") is made on December 31, 2010.

BETWEEN:

(1)	Lexon Technologies Inc, a company duly incorporated in and under the laws of the state of Delaware and listed on the OTC BB market ("Seller"); and
(2)	James Park and Young Won individuals and residents of California (“Buyers”).

WHEREAS

(A)	The Seller is seeking to sell their 100% subsidiary to the Buyers in returns of shares of Lexon Technologies Inc.
(B)	Buyers compose the management of the company and because of the performance of Paragon Toner Inc, for fiscal year 2010 as well as in anticipation of a reverse merger, are willing to buy Paragon Toner Inc from the company in return of their existing shares of Lexon Technologies Inc.
(C)	After the transaction and after the company receives shares, such shares will be cancelled by the Company.

NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein and for other good and valuable considerations, the receipt of which is hereby acknowledged, the Parties agree as follows:

1.	PURCHASE
	Seller agrees to sell 100% of all outstanding stock of Paragon Toner Inc, representing 100% equity of Paragon Toner Inc to Buyers in exchange of

James Park	133,300,000 shares
Young Won	66,700,000 shares

	Representing a total of 200,000,000 shares of Lexon Technologies.
2.	CLOSING
	Share certificates of Lexon Technologies and the Paragon Toner Inc will be exchanged at the earliest date possible.
3.	CANCELLATION OF SHARES
	After the Closing occurs, the Company will cancel the 200,000,000 shares at the earliest date possible which will be done through the assistance of transfer agent and subject to Finra guidelines and SEC disclosure rules and regulations.

4. REPRESENTATIONS AND COVENANTS

Seller represents and warrants to the Buyer that:

a)	Organization, Good Standing and Qualification - Seller is a company duly organized, validly existing and in good standing under the laws of Delaware and has full power and authority to conduct this transaction.
b)	Authorization & Enforceability - Seller has all rights, powers and authority to enter into this Agreement and to consummate the transaction contemplated hereby. All actions on the part of Seller necessary for the authorization, execution, delivery and performance of this Agreement by Seller hereunder have been taken.

MISCELLANEOUS

Amendment - Except as otherwise provided herein, this Agreement shall not be changed, modified or amended except by a writing signed by the parties to be charged, and this Agreement may not be discharged except by performance in accordance with its terms or by a writing signed by the party to be charged.

Binding Effect & One Agreement - This Agreement shall be binding upon and inure to the benefit of the parties hereto and to their respective heirs, legal representatives, successors and assigns. This Agreement sets forth the entire agreement and understanding between the parties as to the subject matter hereof and merges and supersedes all prior discussions, agreements and understandings of any and every nature among them.

Law & Jurisdiction - NOTWITHSTANDING THE PLACE WHERE THIS AGREEMENT MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, ALL THE TERMS AND PROVISIONS HEREOF SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF CALIFORNIA.

Legal Costs on Frivolous Claim - In order to discourage frivolous claims the parties agree that unless a claimant in any proceeding arising out of this Agreement succeeds in establishing his or its claim and recovering a judgment against another party (regardless of whether such claimant succeeds against one of the other parties to the action), then the other parties shall be entitled to recover from such claimant all of its/their reasonable legal costs and expenses relating to such proceeding and/or incurred in preparation therefor.

Severability - The holding of any provision of this Agreement to be invalid or unenforceable by a court of competent jurisdiction shall not affect any other provision of this Agreement, which shall remain in full force and effect. If any provision of this Agreement shall be declared by a court of competent jurisdiction to be invalid, illegal or incapable of being enforced in whole or in part, such provision shall be interpreted so as to remain enforceable to the maximum extent permissible consistent with applicable law and the remaining conditions and provisions or portions thereof shall nevertheless remain in full force and effect and enforceable to the extent they are valid, legal and enforceable, and no provisions shall be deemed dependent upon any other covenant or provision unless so expressed herein.

No Waiver - A waiver by any party of a breach of any provision of this Agreement shall not operate, or be construed, as a waiver of any subsequent breach by that same party.

Further Acts - The parties shall execute and deliver all such further documents, agreements and instruments and take such other and further action as may be necessary or appropriate to carry out the purposes and intent of this Agreement.

Duplicate & Counterparts - This Agreement may be executed in two or more counterparts each of which is an original, but all of which shall together constitute one and the same instrument.

Signature Page to Follow

ACCEPTED AND AGREED

Signed by
for and on behalf of
Lexon Technologies Inc.

/s/ James Park
_________________________
James Park
CEO / President

/s/ James Park
_________________________
James Park

/s/ Young Won
_________________________
Young Won

EX-99.2

RESOLUTION BY WRITTEN CONSENT
OF THE SHAREHOLDERS
OF
LEXON TECHNOLOGIES, INC.
A Delaware Corporation

December 31, 2010

IN LIEU OF SPECIAL MEETING

The undersigned (see attached Written Consents) constituting a majority shareholding of Lexon Technologies, Inc, a Delaware corporation, (the “Corporation”), acting pursuant to the authority of Section 141,of the General Corporation Law of the State of Delaware and the Bylaws of the Corporation, and with the understanding that the execution of this consent is in lieu of holding a special shareholders’ meeting, does hereby adopt the following resolutions.

SALE OF PARAGON TONER INC.

WHEREAS, the company hereby will sell 100% of Paragon Toner Inc. in exchange of 200,000,000 existing shares of Lexon Technologies specifically:

James Park	133,300,000 shares
Young Won	66,700,000 shares

CANCELLATION OF COMPANY STOCK

WHEREAS, further after the 200,000,000 shares are received, immediately after receipt these shares will be cancelled by the company.

INTERNET PROPERTIES TO REMAIN WITH LEXON TECHNOLOGIES.

WHEREAS, notwithstanding the above, Lexon will retain the internet businesses of Lexon Technologies, namely the website known as 7inkjet.com, nanoinkjet.com and yourcartidges.com and all revenues and profits derived therefrom. Lexon Technologies will continue as a going concern.

RESOLVED FURTHER, that the officers of the Corporation are hereby authorized and directed on behalf of the Corporation to execute any agreements, instruments or other documents, and to do and cause to be done any and all other acts and things as such officers may be in their discretion deem necessary or appropriate to carry out the purposes of the foregoing resolutions.

/s/ James Park
___________________________
James Park
198,406,919 shares

/s/ Young Won
___________________________
Young Won
99,030,531 shares