Commitment and Contingencies

12 Months Ended

Dec. 31, 2011

Commitment and Contingencies

Commitments and Contingencies Disclosure [Text Block]

Note 20 - Commitments and Contingencies

Legal Proceedings

On July 14, 2008, Advanced Digital Technology Co. Ltd., a Korean corporation (“ADT”), filed a claim against Lexon and certain named individuals who are former and current officers of the Company.  The claim alleges breach of an agreement to settle an earlier dispute, involving ADT's investment of $150,000 in Lexon on or about January 16, 2007 and ADT's subsequent unilateral decision to rescind and demand a refund of this investment.  The total amount of damages claimed under the pending lawsuit is the investment amount of $150,000 plus filing costs, interest and attorney fees for an aggregate amount of $178,522.  On November 9, 2010, judgment was entered against Lexon Technologies for the amount of 206,547.95.  On approximately November 23, 2011, this case was settled for $205,000.  This settlement effectively concludes this legal proceeding.

Operating lease

The Company leases its office from a non-affiliate.  Future minimum rental payments under these leases as of December 31, 2011 are as follows:

Years ending December 31,	Amount
2012	$            84,570
2013	65,477
Total	$               150,047

Rent expenses amounted to $5,231 and $239,612 for the years ended December 31, 2011 and 2010, respectively. The Company allocated $0 and $214,962 of rent expenses to cost of goods sold for the years ended December 31, 2011 and 2010, respectively.