-----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, H38Mzb5h/OPDWdnjvSt/TY8J42R1QaFndDuAq3QNmmt3FmVdr8g5UpBG7vSHsS9L v790wIAatp+hjgmGk0w1yA== 0001179350-03-000113.txt : 20031114 0001179350-03-000113.hdr.sgml : 20031114 20031114114538 ACCESSION NUMBER: 0001179350-03-000113 CONFORMED SUBMISSION TYPE: 10QSB PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20030930 FILED AS OF DATE: 20031114 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: 031001559 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 f03s10q.txt LEXON 03SEP 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 September 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 September 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 September 30, December 31, 2003 2002 ----------- ----------- (Unaudited) CURRENT ASSETS Cash and cash equivalents $ 20,579 $ 86,801 Advances to related parties 25,769 52,769 ----------- ----------- Total Current Assets 46,348 139,570 ----------- ----------- PROPERTY AND EQUIPMENT, net 7,225 8,074 ----------- ----------- OTHER ASSETS Investment, recorded at cost 250,000 - Note receivable - related party 173,883 - Interest receivable 3,260 - Other assets 16,856 - ----------- ----------- Total Other Assets 443,999 - ----------- ----------- TOTAL ASSETS $ 497,572 $ 147,644 =========== =========== LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) CURRENT LIABILITIES Accounts payable $ 7,540 $ 5,811 Accounts payable - related parties 66,257 15,126 Note payable - related party 6,955 - Convertible notes payable 198,883 - Accrued interest 3,391 - Accrued wages 339,250 172,500 ----------- ----------- Total Current Liabilities 622,276 193,437 ----------- ----------- 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 4,613 - Deficit accumulated during the development stage (1,489,214) (995,690) ----------- ----------- Total Stockholders' Equity (Deficit) (585,578) (506,667) ----------- ----------- TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 497,572 $ 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 Nine Months Ended Through September 30, September 30, September 30, 2003 2002 2003 2002 2003 ----------- ----------- ----------- ----------- ----------- REVENUES $ - $ - $ - $ - $ - ----------- ----------- ----------- ----------- ----------- EXPENSES Research and development - - - - 405,000 Selling, general and administrative 136,799 136,531 490,537 300,712 1,081,181 Depreciation and amortization 875 862 2,869 2,097 6,052 ----------- ----------- ----------- ----------- ----------- Total Expenses 137,674 137,393 493,406 302,809 1,492,233 ----------- ----------- ----------- ----------- ----------- LOSS FROM OPERATIONS (137,674) (137,393) (493,406) (302,809) (1,492,233) ----------- ----------- ----------- ----------- ----------- OTHER INCOME (EXPENSE) Interest income 3,065 - 3,069 3,137 6,206 Interest expense (3,187) - (3,187) - (3,187) ----------- ----------- ----------- ----------- ----------- Total Other Income (Expense) (122) - (118) 3,137 3,019 ----------- ----------- ----------- ----------- ----------- NET LOSS (137,796) (137,393) (493,524) (299,672) (1,489,214) ----------- ----------- ----------- ----------- ----------- OTHER COMPREHENSIVE INCOME Gain (loss) on foreign currency (700) - 4,613 - 4,613 ----------- ----------- ----------- ----------- ----------- NET COMPREHENSIVE LOSS $ (138,496) $ (137,393) $ (488,911) $ (299,672) $ (1,484,601) =========== =========== =========== =========== =========== BASIC LOSS PER SHARE $ (0.01) $ (0.01) $ (0.02) $ (0.02) =========== =========== =========== =========== WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING 20,628,778 19,157,813 20,339,987 18,264,008 =========== =========== =========== ===========
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 Nine Months Ended Through September 30, September 30, 2003 2002 2003 ----------- ----------- ----------- CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (493,524) $ (299,672) $ (1,489,214) Adjustments to reconcile net loss to net cash (used) in operating activities: Depreciation and amortization 2,869 2,097 6,052 Stock for services - - 13,720 Stock for technology - - 375,000 Changes in assets and liabilities: Increase in other assets (16,856) (8,000) (16,856) Increase in interest receivable (3,260) - (3,260) Change in currency conversion 4,613 - 4,613 Increase (decrease) in accounts payable and accrued expenses 223,001 (120,118) 203,207 ----------- ----------- ----------- Net Cash (Used in) Operating Activities (283,157) (425,693) (906,738) ----------- ----------- ----------- CASH FLOWS FROM INVESTING ACTIVITIES: Cash paid for property and equipment (2,020) (3,959) (13,277) Cash paid for related party notes receivables (173,883) (27,000) (241,652) Cash received from related party notes receivables 27,000 5,000 42,000 Cash paid for investments (250,000) - (250,000) Advances to officers - (7,500) - 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 acquistion - 200,000 200,000 Cash received in acquisition - 34,408 34,408 ----------- ----------- ----------- Net Cash Provided by (Used in) Investing Activities (398,903) 150,949 (428,521) ----------- ----------- ----------- CASH FLOWS FROM FINANCING ACTIVITIES: Receipt of subscription receivable - 220,000 220,000 Proceeds from related party notes 205,838 - 205,838 Cash received from issuance of common stock 410,000 70,000 930,000 ----------- ----------- ----------- Net Cash Provided by Financing Activities 615,838 290,000 1,355,838 ----------- ----------- ----------- NET INCREASE IN CASH AND CASH EQUIVALENTS (66,222) 15,256 20,579 CASH AND CASH EQUIVALENTS AT BEG OF PERIOD 86,801 36,134 - ----------- ----------- ----------- CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 20,579 $ 51,390 $ 20,579 =========== =========== =========== 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 September 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 nine months ended September 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 $1,489,214 at September 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 nine months ended September 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 September 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 nine months ended September 30, 2003, the Company received $173,883 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. Accrued interest payable on this note at September 30, 2003 totaled $3,260. The $173,883 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 September 30, 2004. Interest receivable on this note at September 30, 2003 totaled $3,260. The Company also received $6,955 pursuant to a promissory note from a related entity during the nine months ended September 30, 2003 to be used for operating capital. This promissory note includes 7.5% interest and matures on May 16, 2004. Interest payable on this note at September 30, 2003 totaled $131. During the three months ended September 30, 2003, the Company received $25,000 from an unrelated party pursuant to a convertible debenture agreement. The note bears interest at 7.5% interest, matures on September 30, 2004 and is convertible into 25,000 shares of the Company's stock at $1.00 per share at any time upon the election of the Company and/or the holder, up until the maturity date. 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 nine months ended September 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. Foreign Currency Adjustment - --------------------------- For the three and nine months ended September 30, 2003, the functional currency for our foreign subsidiary has been determined to be the Republic of Korea won. Any applicable assets and liabilities have been translated at period end exchange rates and operating statement items are translated at average exchange rates prevailing during the period. For the three months and nine months ended September 30, 2003, we had a loss of $700 and a gain of $4,613, respectively, as a result of foreign currency translation adjustment. This currency translation adjustment affects assets and liabilities of the subsidiary recorded for the periods presented. Results of Operations - --------------------- Three and Nine Months Ended September 30, 2003 compared to September 30, 2002 - ----------------------------------------------------------------------------- We had no revenues for the three and nine months ended September 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. 9 Operating expenses for the three and nine months ended September 30, 2003 were $137,674 and $493,406, respectively, consisting primarily of $136,799 and $490,537 for general and administrative expenses. Operating expenses for the prior year periods were $137,393 and $302,809, respectively. The increase in operating expenses during the nine months ended September 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 nine months ended September 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 $1,492,233, consisting primarily of $405,000 for research and development, and $1,081,181 for general and administrative expenses. Our net losses per share for the three and nine months ended September 30, 2003 were $0.01 and $0.02, respectively, based on a weighted average of 20,628,778 and 20,339,987 shares outstanding. Over the last nine 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. During the nine months ended September 30, 2003, the Company received $173,883 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. Accrued interest payable on this note at September 30, 2003 totaled $3,260. The $173,883 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 September 30, 2004. Interest receivable on this note at September 30, 2003 totaled $3,260. 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 and convertible debentures. 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 September 30, 2003 we had negative working capital of $575,928. We had cash and cash equivalents of $20,579. We also have related party advances of $25,769. We expect these advances to be repaid within the next twelve months. Current liabilities at September 30, 2003 total $622,276, consisting of accounts payable of $7,540, accounts payable - related party of $66,257, note payable-related party of $6,955, convertible notes payable of $198,883, accrued interest of $3,391, and accrued wages of $339,250. 10 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 nine months ended September 30, 2003, cash flows used by operating activities totaled $283,157 compared to $425,693 in the prior year period. Our operating activities since inception have been funded by the sale of our common stock and the issuance of convertible notes and promissory notes. For the nine months ended September 30, 2003, we used $398,903 in investing activities, consisting of $2,020 for property and equipment, $250,000 invested in NPC, and $173,883 loaned to NPC, offset by $27,000 received from related party notes receivables. Cash provided by financing activities consisted of $410,000 received from the sale of our common stock, and $205,838 from related party notes, compared to the prior year when we received $220,000 for payment of a subscription receivable and $70,000 from the sale of common stock. 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 Our principal executive and financial officer has participated with management in the evaluation of effectiveness of the controls and procedures required by paragraph (b) of Rule 13a-15 or Rule 15d-15 under the Exchange Act as of the end of the period covered by this report. Based on that evaluation, our principal executive and financial officer believes that our disclosure controls and procedures (as defined in Rule 13a-15(e) or Rule 15d-15(e) under the Exchange Act) are effective as of the end of the period covered by the report. There have been no changes in our internal controls that have materially affected, or are reasonably likely to materially affect, our internal controls over financial reporting during the period covered by this report. 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 nine months ended September 30, 2003, we received $173,883 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. Accrued interest payable on this note at September 30, 2003 totaled $3,260. 11 We also received $6,955 pursuant to a promissory note from Greenworld International, a Republic of Korea entity controlled by Ben Hwang, president of Lexon Korea, during the nine months ended September 30, 2003 to be used for operating capital. This promissory note includes 7.5% interest and matures on May 16, 2004. Interest payable on this note at September 30, 2003 totaled $131. During the three months ended September 30, 2003, we received $25,000 from an unrelated party pursuant to a convertible debenture agreement. The note bears interest at 7.5% interest, matures on September 30, 2004 and is convertible into 25,000 shares of the Company's stock at $1.00 per share at any time upon the election of the Company and/or the holder, up until the maturity date. ITEM 3. DEFAULT BY THE COMPANY ON ITS SENIOR SECURITIES None. ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS No matters were submitted to the shareholders during the quarter ended September 30, 2003. 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: November 14, 2003 /S/Kenneth J. Eaken, President, Director Principal Executive and Financial Officer EX-31 3 f03sex31.txt 03SEP PRIN EXEC AND FIN OFF 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: November 14, 2003 /S/Kenneth J. Eaken Principal Executive Officer Principal Financial Officer EX-32 4 f03sex32.txt 03SEP PRIN EXEC AND FIN OFF 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 September 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: November 14, 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-----