-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VG78bUpmIUKpYBSEKd0+xr0ZrCoJsNBb81iOYS8DUJRMTtVSgVawAuywzyfkMj4e 8tFx6LoVvMutnAJl3dEFPg== 0001179350-03-000086.txt : 20030819 0001179350-03-000086.hdr.sgml : 20030819 20030819145233 ACCESSION NUMBER: 0001179350-03-000086 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20030630 FILED AS OF DATE: 20030819 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LEXON TECHNOLOGIES INC CENTRAL INDEX KEY: 0001065189 STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770] IRS NUMBER: 870502701 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10QSB SEC ACT: 1934 Act SEC FILE NUMBER: 000-24721 FILM NUMBER: 03855458 BUSINESS ADDRESS: STREET 1: 18001 COWAN, SUITE G-H CITY: IRVINE STATE: CA ZIP: 92614 BUSINESS PHONE: 949-477-4000 FORMER COMPANY: FORMER CONFORMED NAME: REXFORD INC DATE OF NAME CHANGE: 19980630 10QSB 1 f03j10q.txt LEXON 03JUN 10QSB 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-QSB [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarter Ended June 30, 2003 Commission File Number 0-24721 LEXON TECHNOLOGIES, INC. ----------------------------------------------------- (Exact Name of Registrant, as Specified in its Charter) Delaware 87-0502701 - ------------------------------- ---------------------------------- (State or other Jurisdiction of (IRS Employer Identification Number) Incorporation or Organization) 18001 Cowan, Suite G-H, Irvine, California 92614 ------------------------------------------------ (Address of Principle Executive Offices) (949)477-4000 -------------------------------------------------- (Registrant's Telephone Number, Including Area Code) Indicate, by check mark, whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. (1) Yes X No (2) Yes X No --- --- --- --- Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date. Common Stock, $.001 par value 20,628,778 - ----------------------------- ---------------------------- Title of Class Number of Shares Outstanding as of June 30, 2003 2 PART I FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS LEXON TECHNOLOGIES, INC. AND SUBSIDIARY FINANCIAL STATEMENTS (UNAUDITED) The accompanying financial statements have been prepared by the Company, without audit, in accordance with the instructions to Form 10-QSB pursuant to the rules and regulations of the Securities and Exchange Commission and, therefore may not include all information and footnotes necessary for a complete presentation of the financial position, results of operations, cash flows, and stockholders' equity in conformity with generally accepted accounting principles. In the opinion of management, all adjustments (which include only normal recurring accruals) necessary to present fairly the financial position and results of operations for the periods presented have been made. These financial statements should be read in conjunction with the accompanying notes, and with the historical financial information of the Company. 3 LEXON TECHNOLOGIES, INC. AND SUBSIDIARY (A Development Stage Company) Consolidated Balance Sheets ASSETS June 30, December 31, 2003 2002 ----------- ----------- (Unaudited) CURRENT ASSETS Cash and cash equivalents $ 9,561 $ 86,801 Advances to related parties 25,769 52,769 ----------- ----------- Total Current Assets 35,330 139,570 ----------- ----------- PROPERTY AND EQUIPMENT, net 8,100 8,074 ----------- ----------- OTHER ASSETS Investment, recorded at cost 250,000 - Note receivable - related party 167,224 - Other assets 16,398 - ----------- ----------- Total Other Assets 433,622 - ----------- ----------- TOTAL ASSETS $ 477,052 $ 147,644 =========== =========== LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) CURRENT LIABILITIES Accounts payable $ 11,780 $ 5,811 Accounts payable - related party 24,567 15,126 Note payable - related party 6,689 - Convertible note payable 167,224 - Accrued wages 253,000 172,500 ----------- ----------- Total Current Liabilities 463,260 193,437 ----------- ----------- CONTINGENT LIABILITIES 460,874 460,874 ----------- ----------- STOCKHOLDERS' EQUITY (DEFICIT) Common stock, par value $0.001 per share; authorized 100,000,000 shares; 20,628,778 and 19,548,778 shares issued and outstanding, respectively 20,629 19,549 Additional paid-in capital 878,394 469,474 Other comprehensive income 5,313 - Deficit accumulated during the development stage (1,351,418) (995,690) ----------- ----------- Total Stockholders' Equity (Deficit) (447,082) (506,667) ----------- ----------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 477,052 $ 147,644 =========== =========== The accompanying notes are an integral part of these consolidated financial statements. 4 LEXON TECHNOLOGIES, INC. AND SUBSIDIARY (A Development Stage Company) Consolidated Statements of Operations (Unaudited)
From Inception For the For the on July 18, 2001 Three Months Ended Six Months Ended Through June 30, June 30, June 30, 2003 2002 2003 2002 2003 ----------- ----------- ----------- ----------- ----------- REVENUES $ - $ - $ - $ - $ - ----------- ----------- ----------- ----------- ----------- EXPENSES Research and development - - - - 405,000 Selling, general and administrative 171,084 115,810 353,738 164,181 944,382 Depreciation and amortization 1,132 646 1,994 1,235 5,177 ----------- ----------- ----------- ----------- ----------- Total Expenses 172,216 116,456 355,732 165,416 1,354,559 ----------- ----------- ----------- ----------- ----------- LOSS FROM OPERATIONS (172,216) (116,456) (355,732) (165,416) (1,354,559) ----------- ----------- ----------- ----------- ----------- OTHER INCOME (EXPENSE) Interest income 4 1,450 4 3,137 3,141 ----------- ----------- ----------- ----------- ----------- Total Other Income (Expense) 4 1,450 4 3,137 3,141 ----------- ----------- ----------- ----------- ----------- NET LOSS (172,212) (115,006) (355,728) (162,279) (1,351,418) ----------- ----------- ----------- ----------- ----------- OTHER COMPREHENSIVE INCOME Gain on foreign currency adjustments 10,709 - 5,313 - 5,313 ----------- ----------- ----------- ----------- ----------- NET COMPREHENSIVE LOSS $ (161,503) $ (115,006) $ (350,415) $ (162,279) $ (1,346,105) =========== =========== =========== =========== =========== BASIC LOSS PER SHARE $ (0.01) $ (0.01) $ (0.02) $ (0.01) =========== =========== =========== =========== WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING 20,628,778 18,115,991 20,193,198 17,809,697 =========== =========== =========== ===========
The accompanying notes are an integral part of these consolidated financial statements. 5 LEXON TECHNOLOGIES, INC. AND SUBSIDIARY (A Development Stage Company) Consolidated Statements of Cash Flows (Unaudited)
From Inception on July 18, 2001 For the Six Months Ended Through June 30, June 30, 2003 2002 2003 ----------- ----------- ----------- CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (355,728) $ (162,279) $ (1,351,418) Adjustments to reconcile net loss to net cash (used) in operating activities: Depreciation and amortization 1,994 1,235 5,177 Stock for services - - 13,720 Stock for technology - - 375,000 Changes in assets and liabilities: Increase in other assets (16,398) (8,000) (16,398) Change in currency conversion 5,313 - 5,313 Increase (decrease) in accounts payable and accrued expenses 95,910 (203,397) 76,116 ----------- ----------- ----------- Net Cash (Used in) Operating Activities (268,909) (372,441) (892,490) ----------- ----------- ----------- CASH FLOWS FROM INVESTING ACTIVITIES: Cash paid for property and equipment (2,020) (3,959) (13,277) Cash paid for related party notes receivables (167,224) (27,000) (234,993) Cash received from related party notes receivables 27,000 5,000 42,000 Cash paid for investments (250,000) - (250,000) Advances to officers - (6,500) - Cash placed into escrow - - (150,000) Cash received from escrow - 150,000 150,000 Cash paid for note receivable - (200,000) (200,000) Note receivable converted in acquisition - 200,000 200,000 Cash received in acquisition - 34,408 34,408 ----------- ----------- ----------- Net Cash Provided by (Used in) Investing Activities (392,244) 151,949 (421,862) ----------- ----------- ----------- CASH FLOWS FROM FINANCING ACTIVITIES: Receipt of subscription receivable - 220,000 220,000 Proceeds from related party notes 173,913 - 173,913 Cash received from issuance of common stock 410,000 - 930,000 ----------- ----------- ----------- Net Cash Provided by Financing Activities 583,913 220,000 1,323,913 ----------- ----------- ----------- NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (77,240) (492) 9,561 CASH AND CASH EQUIVALENTS AT BEG OF PERIOD 86,801 36,134 - ----------- ----------- ----------- CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 9,561 $ 35,642 $ 9,561 =========== =========== =========== SUPPLEMENTAL CASH FLOW INFORMATION Cash Payments For: Interest $ - $ - $ - Income taxes $ - $ - $ - Non-Cash Investing and Financing Activities Stock issued for technology $ - $ - $ 375,000 Stock issued for services $ - $ - $ 13,720
The accompanying notes are an integral part of these consolidated financial statements. 6 LEXON TECHNOLOGIES, INC. AND SUBSIDIARY (A Development Stage Company) Notes to the Consolidated Financial Statements June 30, 2003 and December 31, 2002 NOTE 1 - BASIS OF FINANCIAL STATEMENT PRESENTATION The accompanying unaudited condensed financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted in accordance with such rules and regulations. The information furnished in the interim condensed financial statements include normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for a fair presentation of such financial statements. Although management believes the disclosures and information presented are adequate to make the information not misleading, it is suggested that these interim condensed financial statements be read in conjunction with the Company's audited financial statements and notes thereto included in its December 31, 2002 Annual Report on Form 10-KSB. Operating results for the three months and six months ended June 30, 2003 are not necessarily indicative of the results that may be expected for the year ending December 31, 2003. NOTE 2 - GOING CONCERN The Company's consolidated financial statements are prepared using generally accepted accounting principles applicable to a going concern which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has historically incurred significant losses which have resulted in an accumulated deficit of $1,351,418 at June 30, 2003 and limited internal financial resources. These factors combined, raise substantial doubt about the Company's ability to continue as a going concern. The Company was able to raise an additional $410,000 through the issuance of common stock during the six months ended June 30, 2003 which has been used for operations and investment acquisitions (See Note 3). The accompanying consolidated financial statements do not include any adjustments relating to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result from the outcome of this uncertainty. It is the intent of management to continue to raise additional funds to sustain operations and to pursue acquisitions of operating companies in order to generate future profits for the Company. NOTE 3 - MATERIAL EVENTS On January 17, 2003, the Company issued 120,000 shares of common stock to a private investor at $0.835 per share for total proceeds of $100,000. On January 31, 2003, the Company issued 120,000 shares of common stock to a private investor at $0.835 per share for total proceeds of $100,000. On March 28, 2003, the Company issued 840,000 shares of common stock to a related party at $0.25 per share for total proceeds of $210,000. 7 LEXON TECHNOLOGIES, INC. AND SUBSIDIARY (A Development Stage Company) Notes to the Consolidated Financial Statements June 30, 2003 and December 31, 2002 NOTE 3 - MATERIAL EVENTS (Continued) On March 18, 2003, the Company incorporated a wholly-owned subsidiary in the Republic of Korea named Lexon Korea Corporation (Lexon Korea) for the purpose of entering into potential business combinations with Korean operating entities. Effective April 2, 2003, Lexon Korea invested a total of $250,000 for an initial approximate three percent (3%) ownership (30,000 shares) in a Republic of Korea entity called Nano Plasma Center Company, Ltd. (NPC). The investment has been recorded at the Company's initial cost of $250,000. During the three months ended June 30, 2003, the Company received $167,224 from a director of the Company pursuant to a convertible debenture agreement. The note bears interest at 7.5% interest, matures on December 26, 2003 and is convertible into 668,000 shares of the Company's stock at $0.25 per share at any time upon the election of the Company and/or the holder, up until the maturity date. The $167,224 received pursuant to this note was then loaned to NPC pursuant to a separate debenture agreement. This note receivable bears interest at 7.5% interest and matures on June 30, 2004. The Company also received $6,689 pursuant to a promissory note from a related entity during the three months ended June 30, 2003 to be used for operating capital. This promissory note includes 7.5% interest and matures on May 16, 2004. 8 ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Cautionary Statement Regarding Forward-looking Statements - --------------------------------------------------------- This report may contain "forward-looking" statements. Examples of forward- looking statements include, but are not limited to: (a) projections of revenues, capital expenditures, growth, prospects, dividends, capital structure and other financial matters; (b) statements of plans and objectives of our management or Board of Directors; (c) statements of future economic performance; (d) statements of assumptions underlying other statements and statements about us and our business relating to the future; and (e) any statements using the words "anticipate," "expect," "may," "project," "intend" or similar expressions. General - ------- The Company was formed in July of 2001 to commercialize a proprietary device and proprietary software package that reduces the amount of electricity required to power various indoor lighting devices in commercial buildings, factories, and office structures, as well as outdoor street and parking lot lighting. Since inception, our business activities have included raising capital, developing prototype devices and attempting to establish a marketing and sales distribution network. Because market conditions and competition have increased substantially in this area, we have shifted our primary focus to seeking joint venture partners, business acquisitions and business alliances in an effort to commence business operations outside the electrical products area, although we have not reached any definitive agreements to date. During the first quarter of 2003, the Company identified an opportunity in the nanotechnology business. During the six months ended June 30, 2003, the Company has focused its total attention to the investigation and evaluation of the nanotechnology business, specifically the manufacture and sale of metal nanoparticles. Results of Operations - --------------------- Three Months and Six Months Ended June 30, 2003 compared to June 30, 2002 - ------------------------------------------------------------------------- We had no revenues for the three and six months ended June 30, 2003 and have had no revenues from inception (July 18, 2001) to date. Until an appropriate business opportunity is identified, we cannot predict when or if we will be able to generate revenues from operations. Operating expenses for the three and six months ended June 30, 2003 were $172,216 and $355,732, respectively, consisting primarily of $171,084 and $353,738 for general and administrative expenses. Operating expenses for the prior year periods were $116,456 and $165,416, respectively. The increase in operating expenses during the six months ended June 30, 2003 from the same period in 2002 reflects additional salaries and professional fees, travel, consultation and due diligence expenses related to management's continuing efforts to identify a business partner. Operating expenses for the six months ended June 30, 2003 include a payment of $50,000 to Jehy Lah for accrued salary and payments of $42,000 to Ben Hwang for accrued salary. Operating expenses since inception (July 18, 2001) total $1,354,559, consisting primarily of $405,000 for research and development, and $944,382 for general and administrative expenses. Our net losses per share for the three and six months ended June 30, 2003 were $0.01 and $0.02, respectively, based on a weighted average of 20,628,778 and 20,193,198 shares outstanding. 9 Over the last six months management has been investigating and evaluating potential business combination candidates in the area of nanotechnology, specifically the manufacture and distribution of metal nanoparticles. On April 2, 2003, the Company acquired a 3% interest in Nano Plasma Center Company, Ltd. ("NPC"), a development stage company headquartered in Daejon, Republic of Korea. This $250,000 investment was made by the Company's subsidiary, Lexon Korea Corporation. On June 30, 2003, the Company loaned NPC $167,224 for a term of one year at 7.5% interest. This loan was offered to NPC as an inducement to continue business combination efforts. Management hopes the continued efforts of both companies will result in a mutually favorable relationship, although no definitive agreement has been reached at this filing date. Provided that this or another business acquisition and/or partnership is identified and consummated, with adequate funding for the acquisition and operations obtained, we anticipate that operating expenses will increase substantially as research and production staff is hired and sales and marketing operations commence. Liquidity and Capital Resources - ------------------------------- Our primary source of liquidity has been cash proceeds from the sale of our common stock. We anticipate that we will need to raise significant additional capital to complete a business acquisition. At this date we have no agreements or commitments for long term funding. At June 30, 2003 we had negative working capital of $427,930. We had cash and cash equivalents of $9,561. We also have related party advances of $25,769. We expect these advances to be repaid within the next twelve months. Current liabilities at June 30, 2003 total $463,260, consisting primarily of accounts payable of $11,780, accounts payable - related party of $24,567, and accrued wages of $253,000. On June 30, 2003, we accepted a convertible note of $167,224 from a related party payable on or before December 26, 2003. At the election of the holder this note can be converted to common stock at $.25 per share. In August 2002, we entered into an oral agreement to pay J. Jehy Lah, the chairman of our board of directors, a salary of $135,000 per year. We also entered into an oral agreement to pay Ben Hwang, our Secretary, a salary of $85,000 per year. Other than the payments of accrued salary amounts to Mr. Lah ($50,000) and Mr. Hwang ($42,000) listed above (see Results of Operations), these salaries and the salary of Kenneth Eaken, our C.E.O. and President, are all being accrued until such time as operating revenues or other funds are available sufficient to pay the accrued amounts. For the six months ended June 30, 2003, cash flows used by operating activities totaled $268,909 compared to $372,441 in the prior year period. Our operating activities since inception have been funded by the sale of our common stock and the issuance of a convertible note on June 30, 2003. On April 2, 2003, we invested $250,000 in NPC for a 3% interest in the company and on June 30, 2003 loaned an additional $167,224 to NPC. In the prior year period, we used $27,000 for a related party note receivable and made advances to officers totaling $6,500. Cash provided by financing activities consisted of $410,000 received from the sale of our common stock, and $173,913 from related party notes, compared to the prior year when we received $220,000 for payment of a subscription receivable. 10 On March 18, 2003, we incorporated a wholly-owned subsidiary in the Republic of Korea named Lexon Korea Corporation. This subsidiary was formed to facilitate entering into potential business combinations with Korean operating entities. On April 2, 2003, this subsidiary invested a total of $250,000 for an approximate 3% equity ownership in a private Republic of Korea entity, NPC. NPC is an entity which controls the worldwide marketing rights to certain nanotechnology. Management is actively engaged in discussions concerning the acquisition of this entity and is seeking the necessary financing to complete the acquisition. Because we have had no significant operations, have an operating loss and are dependent on financing to continue operations, our financial statements contain a going concern qualification. We intend to continue to seek financing from traditional lending sources, loans from or private sales of our securities to our existing officers, directors, and shareholders, or such other debt or equity offerings that may be available to us. There is no assurance that we will be able to obtain funding when and if needed, or that such funding, if available, can be obtained on terms reasonable or acceptable to us. ITEM 3. CONTROLS AND PROCEDURES (a) Evaluation of disclosure controls and procedures. Our principal executive and financial officer believes our disclosure controls and procedures (as defined in Sections 13a-14(c) and 15d-14(c) of the Securities Exchange Act of 1934, as amended) are adequate, based on our evaluation of such disclosure controls and procedures on July 25, 2003. (b) Changes in internal controls. There were no significant changes in our internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation. PART II - OTHER INFORMATION ITEM 1. LEGAL PROCEEDINGS We are not aware of any material pending or threatened litigation. ITEM 2. CHANGES IN SECURITIES During the three months ended June 30, 2003, we received $167,224 from Kyu Hong Hwang, one of our directors, pursuant to a convertible debenture agreement. The note bears interest at 7.5% interest, matures on December 26, 2003 and is convertible into 668,000 shares of the Company's stock at $0.25 per share at any time upon the election of the Company and/or the holder, up until the maturity date. The $167,224 received pursuant to this note was then loaned to NPC pursuant to a separate debenture agreement. This note receivable bears interest at 7.5% interest and matures on June 30, 2004. ITEM 3. DEFAULT BY THE COMPANY ON ITS SENIOR SECURITIES None. 11 ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS We held a shareholders' meeting on May 20, 2003 in Newport Beach, California. At the meeting, Kenneth Eaken, our president, announced that we had: (1) Authorized a class of 10,000,000 shares of preferred stock with rights and privileges to be designated by the board of directors; and (2) Elected J. Jehy Lah, Kenneth J. Eaken, and, Kyu Hong Hwang to our board of directors. The affirmative written consent to the above actions of shares representing a majority of the outstanding shares on the record date was required and obtained to approve the authorization of the preferred stock and each director's election. ITEM 5. OTHER INFORMATION None. ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K Exhibit 31 - CERTIFICATION AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANNES-OXLEY ACT OF 2002. Exhibit 32 - CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002. (b) Reports on Form 8-K ------------------- None. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, we have duly caused this report to be signed on our behalf by the undersigned, thereunto duly authorized. LEXON TECHNOLOGIES, INC. Date: August 19, 2003 /S/Kenneth J. Eaken, President, C.E.O. and C.F.O. EX-31 3 f03jex31.txt 03JUN 302 CERTIFICATION Exhibit 31 SECTION 302 CERTIFICATION CERTIFICATION I, Kenneth J. Eaken, certify that: 1. I have reviewed this quarterly report of Lexon Technologies, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the small business issuer as of, and for, the periods presented in this report; 4. The small business issuer's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the small business issuer and have: (a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the small business issuer, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) evaluated the effectiveness of the small business issuer's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and (c) disclosed in this report any change in the small business issuer's internal control over financial reporting that occurred during the small business issuer's most recent fiscal quarter (the small business issuer's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the small business issuer's internal control over financial reporting; and 5. The small business issuer's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the small business issuer's auditors and the audit committee of the small business issuer's board of directors (or persons performing the equivalent functions): (a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the small business issuer's ability to record, process, summarize and report financial information; and (b) any fraud, whether or not material, that involves management or other employees who have a significant role in the small business issuer's internal control over financial reporting. Date: August 19, 2003 /S/Kenneth J. Eaken Principal Executive Officer Principal Financial Officer EX-32 4 f03jex32.txt 03JUN 906 CERTIFICATION Exhibit 32 SECTION 906 CERTIFICATION CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 In connection with the quarterly report of Lexon Technologies, Inc. (the "Company") on Form 10-QSB for the quarter ending June 30, 2003, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Kenneth J. Eaken, Principal Executive Officer and Principal Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief: (1) the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and (2) the information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company. Date: August 19, 2003 /S/Kenneth J. Eaken Principal Executive Officer Principal Financial Officer A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request. -----END PRIVACY-ENHANCED MESSAGE-----