content: U.S. SECURITIES AND EXCHANGE
  COMMISSION
  Washington, D.C. 20549
  
  FORM 10-Q
  
  [X] QUARTERLY REPORT PURSUANT TO
  SECTION 13 OR 15(d) OF THE SECURITIES
  EXCHANGE ACT OF 1934
  
  For the quarterly period ended March 31, 2008
  
  
  [   ] TRANSITION REPORT PURSUANT TO
  SECTION 13 OR 15(d) OF THE SECURITIES
  EXCHANGE ACT OF 1934
  
  For the transition period from
  
  Commission File No. 000-52503
  
  Lexit Technology, Inc.
  (Name of Small Business Issuer in its charter)
  
  Colorado
  -------------------
  (State or other jurisdiction
  of
  (I.R.S. employer
  incorporation or formation)
  identification number)
  
  7486 La Jolla Blvd., Suite 479
  La Jolla, CA 92037
  (Address of principal executive offices) (Zip
  Code)
  
  Issuer's telephone number:  877-565-0515
  Issuer's facsimile number: 302-861-3738
  
  No Change
  (Former name, former address and former
  fiscal year, if changed since last report)
  
  
  Check whether the issuer (1) filed all reports required to
  be filed by Section 13 or 15(d) of the Exchange Act
  during the preceding 12 months (or for such shorter
  period that the issuer was required to file such reports),
  and (2) has been subject to such filing requirements for
  the past 90 days. Yes [X] No [   ]
  
  Indicate by check mark whether the registrant is a shell
  company (as defined in Rule 12b-2 of the Exchange
  Act). Yes [X] No [   ]
  
  State the number of shares outstanding of each of the
  issuer's classes of common equity, as of May 14, 2008:
  1,390,000 shares of common stock.
  
  
  
  
  
  LEXIT TECHNOLOGY, INC.
  
  FINANCIAL STATEMENTS
  (Unaudited)
  
  March 31, 2008
  
  
  LEXIT TECHNOLOGY, INC.
  (A Development Stage Enterprise)
  INDEX TO INTERIM AND UNAUDITED
  FINANCIAL STATEMENTS
  March 31, 2008
  (Unaudited)
  
  
  Page
  
  
  Financial Statements
  
  
  
  Balance Sheet
  F-1
  
  
  Statements of Operations
  F-2
  
  
  Statements of  Changes in Stockholder's
  Equity
  F-3
  
  
  Statements of Cash Flows
  F-4
  
  
  
  
  Notes to Financial Statements
  F-5 -
  F-6
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  LEXIT TECHNOLOGY, INC.
  (A Development Stage Enterprise)
  INTERIM AND UNAUDITED BALANCE SHEET
  MARCH 31, 2008
  
  
  
  March 31,
  2008
  
  
  
  (Unaudited)
  
  
  
  
  
  ASSETS
  
  
  
  
  
  
  
  
  
   Total assets
  
  $
  -
  
  
  
  
  
  
  LIABILITIES AND
  STOCKHOLDER'S EQUITY
  
  
  
  
  
  
  
  
  
  Commitment and contingencies
  
  $
  -
  
  
  
  
  
  
  Stockholder's equity
  
  
  -
  
  Preferred stock, $.001 par value,
  
  
  
  
   authorized 20,000,000 shares,
  none issued
  
  
  
  
  Common stock, $.001 par value,
  
  
  
  
   authorized 100,000,000 shares,
  
  
  1,390
  
   1,390,000 issued and outstanding
  
  
  
  
  Additional paid in capital
  
  
  2,360
  
  Deficit accumulated during the
  development stage
  
  
  (3,750)
  
  
  
  
  
  
   Total stockholder's equity
  
  
  
  
  
  
  
  
  
   Total liabilities and stockholder's
  equity
  
  
  -
  
  
  
  
  
  
  
  
  $
  -
  
  
  The accompanying notes are an integral part of these
  financial statements
  
  
  
  
  
  
  
  
  
  F-1
  
  
  
  LEXIT TECHNOLOGY, INC.
  (A Development Stage Enterprise)
  INTERIM AND UNAUDITED STATEMENTS OF
  OPERATIONS
  (Unaudited)
  
   Income
  For the
  three months
  ended
  March 31,
  2008
  
  For the
  three months
  ended
  March 31,
  2007
  
            For the period
                February 16,
  2007
               (Inception)
  through
                March 31,
  2008
  
  
  
  
  
  
  
  
  
  Revenue
  $
  -
  
  $
  -
  
  $
  -
  
  Expenses
  $
  -
  
  $
  -
  
  $
    -
  
  General and
  Administrative
  
  -
  
  
  1,390
  
  $
  3,750
  
  Total Expenses
  $
  -
  
  $
  (1390)
  
  $
    ($3,750)
  
  Net Loss
  
  (.00)
  
  
  (1,390)
  
  
  (3,750)
  
  Net loss per share
  (basic and diluted)
  $
  
  
  $
  
  
  $
   (.00)
  
  Weighted average
  shares outstanding
  (basic and diluted)
  
  1,390,000
  
  
  1,390,000
  
  
  1,390,000
  
  
  The accompanying notes are an integral part of these
  financial statements
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  F-2
  
  
  
  LEXIT TECHNOLOGY, INC.
  (A Development Stage Enterprise)
  INTERIM AND UNAUDITED STATEMENTS OF
  CHANGES IN STOCKHOLDER'S EQUITY
  For the period from February 16, 2007 (Inception) to
  March 31, 2008
  (Unaudited)
  
  , ,  ,  , Additional Paid-in Capital , Deficit accumulated ,
  Total
  , , Common Stock , , ,
  , , Shares , Amount , , ,
  Issuance of Common Stock , , , , , , ,
  Balance February 16, 2007, , 0, 0, 0, 0, , 0
  Shares issued in Lieu of expenses paid, February 16,
  2007  , , 1,390,000, $1,390.00, $0.00, $0.00, , $1,390.00
  , , , , , , ,
  Contributed Capital for Services, , ,        , 2,360, , ,
  $2,360.00
  Net Loss , , , , , ($2,360.00), , ($3,750.00)
  Balance  March 31, 2008, , , , , , ,
  , , 1,390,000, $1,390.00, $2,360, ($3,750.00), , 0.00
  , , , , , , ,
   	Additional Paid-in
  Capital  Deficit accumulated 	Total
  
  
  	The accompanying notes are an integral part of
  these financial statements
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  F-3
  
  
  
  LEXIT TECHNOLOGY, INC.
  (A Development Stage Enterprise)
  INTERIM AND UNAUDITED STATEMENTS OF
  CASH FLOWS
  (Unaudited)
  
  
  For the
  three
  months
  ended
  March
  31,
  2008
  For the
  three
  months
  ended
  March
  31,
  2007
  
  For the
  period
  February
  16, 2007
  (Inception)
  through
  March 31,
  2008
  
  
  
  
  
  
  Cash flows from operating
  activities
  $
  -
  --
  
  
  
  Net Loss
  $
  -
  (1390)
  
  $
  (3,750)
  Shares issued in lieu of
  expenses paid
  $
  -
  1390
  
  
  1390
  
  $
  -
  
  
  
  
  Contributed Capital for
  Services
  
  
  
  
  
  2,360
  
  $
  
  
  
  
  
   Cash flows used in
  operating activities
  
  -
  --
  
  
  -0-
  
  
  
  
  
  
  
  Net increase in cash
  
  
  --
  
  
  -
  
  
  
  
  
  
  
  Cash, beginning of period
  
  
  --
  
  
  -
  
  
  
  
  
  
  
  Cash, end of period
  
  
  --
  
  $
  -
  
  
  
  
  
  
  
  SUPPLEMENTAL
  DISCLOSURE OF CASH
  FLOW INFORMATION:
  
  
  --
  
  
  
  Cash paid during the period
  for:
  
  
  
  
  
  
  Interest
  
  
  
  
  
  -
  Income taxes
  
  
  
  
  
  -
  
  
  
  --
  
  
  
  
  
  
  --
  
  
  
  
  
  The accompanying notes are an integral part of these
  financial statements
  
  
  
  
  
  
  
  F-4
  
  
  LEXIT TECHNOLOGY, INC.
  (A Development Stage Enterprise)
  NOTES TO INTERIM AND UNAUDITED
  FINANCIAL STATEMENTS
  March 31, 2008
  
  NOTE 1 - Organization and Significant Accounting
  Policies
  
  Nature of Operations
  
  Lexit Technology, Inc. ("the Company") was
  incorporated in the State of Colorado on February 16,
  2007 and has been inactive since inception.  The
  company intends to serve as a vehicle to effect an asset
  acquisition, merger, exchange of capital stock or other
  business combination with a domestic or foreign
  business. It is currently in its development stage.
  
  As a blank check company, the Company's business is
  to pursue a business combination through acquisition,
  or merger with, an existing company.  The Company
  has subsequently entered into an asset purchase
  agreement which is referenced in Note 5.
  
  Since inception, the Company has been engaged in
  organizational efforts.
  
  General
  
  The accompanying unaudited financial statements
  include all adjustments of a normal and recurring
  nature, which, in the opinion of Company's
  management, are necessary to present fairly the
  Company's financial position as of March 31, 2008,
  and March 31, 2007, the results of its operations for the
  three months ended March 31, 2008, and March 31,
  2007, and from the date of inception (February 16,
  2007) through March 31, 2008, and cash flows for the
  three months ended March 31, 2008 and March 31,
  2007 and from the date of inception (February 16,
  2007) through March 31, 2008.
  
  Certain information and footnote disclosures normally
  included in financial statements prepared in accordance
  with generally accepted accounting principles have
  been omitted pursuant to the rules and regulations of
  the Securities and Exchange Commission.
  
  The results of operations and cash flows for the three
  months ended March 31, 2008 are not necessarily
  indicative of the results to be expected for the full
  year's operation.
  
  NOTE 2 - SUMMARY OF SIGNIFICANT
  ACCOUNTING POLICIES
  
  The accompanying financial statements are prepared in
  accordance with accounting principles generally
  accepted in the United States. Significant accounting
  policies follow:
  
  Loss per Common Share: Basic loss per share is
  calculated using the weighted-average number of
  common shares outstanding during each period. Diluted
  loss per share includes potentially dilutive securities
  such as outstanding options and warrants, using various
  methods such as the treasury stock or modified treasury
  stock method in the determination of dilutive shares
  outstanding during each period. The Company does not
  have any potentially dilutive instruments.
  
  
  
  
  F-5
  
  
  New Accounting Pronouncements:
  
  Management does not believe that any other recently
  issued, but not yet effective accounting
  pronouncements, if adopted, would have a material
  effect on the accompanying financial statements.
  
  NOTE 3 - GOING CONCERN
  
  The accompanying financial statements have been
  prepared assuming that the Company will continue as a
  going concern, which contemplates the recoverability
  of assets and the satisfaction of liabilities in the normal
  course of business.
  
  The Company has had no revenue and has incurred
  accumulated net losses from February 16, 2007
  (inception) through the period ended March 31, 2008 of
  $3,750. In addition, the Company's development
  activities since inception have been financially
  sustained through equity financing.
  
  The ability of the Company to continue as a going
  concern is dependent upon its ability to find a suitable
  acquisition/merger candidate, raise additional capital
  from the sale of common stock, and receive additional
  paid-in capital from its shareholder and, ultimately, the
  achievement of significant operating revenues. The
  accompanying financial statements do not include any
  adjustments that might be required should the Company
  be unable to recover the value of its assets or satisfy its
  liabilities
  
  NOTE 4 - SHAREHOLDER'S EQUITY
  
  Holders of shares of common stock shall be entitled to
  cast one vote for each common share held at all
  stockholder's meetings for all purposes, including the
  election of directors. The common stock does not have
  cumulative voting rights.
  
  The preferred stock of the Company shall be issued by
  the Board of Directors of the Company in one or more
  classes or one or more series within any class and such
  classes or series shall have such voting powers, full or
  limited, or no voting powers, and such designations,
  preferences, limitations or restrictions as the Board of
  Directors of the Company may determine, from time to
  time.
  
  No holder of shares of stock of any class shall be
  entitled as a matter of right to subscribe for or purchase
  or receive any part of any new or additional issue of
  shares of stock of any class, or of securities convertible
  into shares of stock of any class, whether now hereafter
  authorized or whether issued for money, for
  consideration other than money, or by way of dividend.
  
  Item 2.                      Management's Discussion and
  Analysis or Plan of Operation.
  
  Plan of Operation
  
  The Company will attempt to locate and negotiate with
  a business entity for the combination of that target
  company with the Company. The combination will
  normally take the form of a merger, stock-for-stock
  exchange or stock-for- assets exchange (the "business
  combination"). In most instances the target company
  will wish to structure the business combination to be
  within the definition of a tax-free reorganization under
  Section 351 or Section 368 of the Internal Revenue
  Code of 1986, as amended. As of the date of this report,
  the Company has identified an undisclosed potential
  target company for a possible business
  combination.  The Company is currently engaged in
  preliminary negotiations with the target company.  No
  assurances can be given that the Company will be
  successful in locating or negotiating with any target
  company.
  F-5
  
  The Company has not restricted its search for any
  specific kind of businesses, and it may acquire a
  business which is in its preliminary or development
  stage, which is already in operation, or in essentially
  any stage of its business life. It is impossible to predict
  the status of any business in which the Company may
  become engaged, in that such business may need to
  seek additional capital, may desire to have its shares
  publicly traded, or may seek other perceived advantages
  which the Company may offer.
  
  In implementing a structure for a particular business
  acquisition, the Company may become a party to a
  merger, consolidation, reorganization, joint venture, or
  licensing agreement with another corporation or entity.
  
  It is anticipated that any securities issued in any such
  business combination would be issued in reliance upon
  exemption from registration under applicable federal
  and state securities laws. In some circumstances,
  however, as a negotiated element of its transaction, the
  Company may agree to register all or a part of such
  securities immediately after the transaction is
  consummated or at specified times thereafter. If such
  registration occurs, it will be undertaken by the
  surviving entity after the Company has entered into an
  agreement for a business combination or has
  consummated a business combination.
  
  The issuance of additional securities and their potential
  sale into any trading market which may develop in the
  Company's securities may depress the market value of
  the Company's securities in the future if such a market
  develops, of which there is no assurance. However, if
  the Company cannot effect a non-cash acquisition, the
  Company may have to raise funds from a private
  offering of its securities under Rule 506 of Regulation
  D. There is no assurance the Company would obtain
  any such equity funding.
  
  The Company will participate in a business
  combination only after the negotiation and execution of
  appropriate agreements. Negotiations with a target
  company will likely focus on the percentage of the
  Company which the target company shareholders
  would acquire in exchange for their shareholdings.
  
  Although the terms of such agreements cannot be
  predicted, generally such agreements will require
  certain representations and warranties of the parties
  thereto, will specify certain events of default, will detail
  the terms of closing and the conditions which must be
  satisfied by the parties prior to and after such closing
  and will include miscellaneous other terms. Any merger
  or acquisition effected by the Company can be expected
  to have a significant dilutive effect on the percentage of
  shares held by the Company's shareholders at such
  time.
  
  Item 2. Management's Discussion and Analysis of
  Financial Conditions and Results of Operations Plan of
  Operation
  
  On November 6, 2007, the Company entered into an
  Asset Purchase Agreement with SmartWear
  Technologies,  Inc., to purchase substantially all of the
  properties, rights, patents, trademarks and assets used
  by SmartWear Technologies, Inc. in conducting its
  business of providing (i) RFID and GPS personal safety
  and security technology and (ii) information technology
  security, tracking and data solutions to various
  businesses and consumers.
  
  The purchase price for the SmartWear Technologies,
  Inc. assets shall be a number of shares of the
  Registrant's common stock which will be equal to the
  number of shares of SmartWear Technologies, Inc.
  common stock outstanding at the time of closing.  In
  addition, SmartWear Technologies, Inc. has agreed to
  pay the Registrant's sole shareholder a total of $5,000
  in exchange for his agreement to surrender all of his
  shares of the Registrant's common stock for
  cancellation at the time of closing.  As a result of these
  transactions (the "Transactions"), the shares of the
  Registrant's common stock issued to SmartWear
  Technologies, Inc. will represent 100% of the
  Registrant's outstanding common stock after the
  completion of the Transactions.
  
  F-6
  
  
  The closing of the Transactions is scheduled to take
  place within five (5) days after the date when each of
  the conditions to closing set forth in the Purchase
  Agreement have been fulfilled (or waived by the party
  entitled to waive such condition), including, among
  others, the approval of the sale of assets by the
  stockholders of SmartWear Technologies, Inc., and the
  effectiveness of a Registration Statement on Form S-4
  which will be filed with the Securities and Exchange
  Commission to register the shares being issued to
  SmartWear Technologies, Inc.
  
  The existing sole officer and director of the Registrant
  will resign upon the closing of the Transactions and a
  new management team and new Board of Directors
  consisting of individuals to be designated by
  SmartWear Technologies, Inc. will be appointed.
  
  If the Transactions are not completed, the Company
  will attempt to locate and negotiate with a business
  entity for the combination of that target company with
  the Company. The combination will normally take the
  form of a merger, stock-for-stock exchange or stock-
  for- assets exchange (the "business combination"). In
  most instances the target company will wish to structure
  the business combination to be within the definition of
  a tax-free reorganization under Section 351 or Section
  368 of the Internal Revenue Code of 1986, as amended.
  No assurances can be given that the Company will be
  successful in locating or negotiating with any target
  business.
  
  The Company has not restricted its search for any
  specific kind of businesses, and it may acquire a
  business which is in its preliminary or development
  stage, which is already in operation, or in essentially
  any stage of its business life. It is impossible to predict
  the status of any business in which the Company may
  become engaged, in that such business may need to
  seek additional capital, may desire to have its shares
  publicly traded, or may seek other perceived advantages
  which the Company may offer.
  
  In implementing a structure for a particular business
  acquisition, the Company may become a party to a
  merger, consolidation, reorganization, joint venture, or
  licensing agreement with another corporation or entity.
  
  It is anticipated that any securities issued in any such
  business combination would be issued in reliance upon
  exemption from registration under applicable federal
  and state securities laws. In some circumstances,
  however, as a negotiated element of its transaction, the
  Company may agree to register all or a part of such
  securities immediately after the transaction is
  consummated or at specified times thereafter. If such
  registration occurs, it will be undertaken by the
  surviving entity after the Company has entered into an
  agreement for a business combination or has
  consummated a business combination. The issuance of
  additional securities and their potential sale into any
  trading market which may develop in the Company's
  securities may depress the market value of the
  Company's securities in the future if such a market
  develops, of which there is no assurance. However, if
  the Company cannot effect a non-cash acquisition, the
  Company may have to raise funds from a private
  offering of its securities under Rule 506 of Regulation
  D. There is no assurance the Company would obtain
  any such equity funding.
  
  The Company will participate in a business
  combination only after the negotiation and execution of
  appropriate agreements. Negotiations with a target
  company will likely focus on the percentage of the
  Company which the target company shareholders
  would acquire in exchange for their shareholdings.
  Although the terms of such agreements cannot be
  predicted, generally such agreements will require
  certain representations and warranties of the parties
  thereto, will specify certain events of default, will detail
  the terms of closing and the conditions which must be
  satisfied by the parties prior to and after such closing
  and will include miscellaneous other terms. Any merger
  or acquisition effected by the Company can be expected
  to have a significant dilutive effect on the percentage of
  shares held by the Company's shareholders at such
  time.
  
  
  
  Results of Operation
  
  The Company has not conducted any active operations
  since inception, except for its efforts to locate suitable
  acquisition candidates. No revenue has been generated
  by the Company from February 16, 2007 (inception) to
  March 31, 2008. It is unlikely the Company will have
  any revenues unless it is able to effect an acquisition or
  merger with an operating company, of which there can
  be no assurance.
  
  Liquidity and Capital Resources
  
  Expenses incurred since inception are primarily due to
  legal, accounting and other professional service fees.
  
  At March 31, 2008, the Company had no capital
  resources and will rely upon the issuance of common
  stock and additional capital contributions from
  shareholders to fund administrative expenses pending
  acquisition of an operating company.
  
  Management anticipates seeking out a target company
  through solicitation. Such solicitation may include
  newspaper or magazine advertisements, mailings and
  other distributions to law firms, accounting firms,
  investment bankers, financial advisors and similar
  persons, the use of one or more World Wide Web sites
  and similar methods. No estimate can be made as to the
  number of persons who will be contacted or solicited.
  Management may engage in such solicitation directly or
  may employ one or more other entities to conduct or
  assist in such solicitation. Management and its affiliates
  will pay referral fees to consultants and others who
  refer target businesses for mergers into public
  companies in which management and its affiliates have
  an interest. Payments are made if a business
  combination occurs, and may consist of cash or a
  portion of the stock in the Company retained by
  management and its affiliates, or both.
  
  The Company and/or shareholders will supervise the
  search for target companies as potential candidates for a
  business combination. The Company and/or
  shareholders may pay as their own expenses any costs
  incurred in supervising the search for a target company.
  The Company and/or shareholders may enter into
  agreements with other consultants to assist in locating a
  target company and may share stock received by it or
  cash resulting from the sale of its securities with such
  other consultants.
  
  Off-balance sheet arrangements
  
  The Company does not have any off-balance sheet
  arrangements that have or are reasonably likely to have
  a current or future effect on the Company's financial
  condition, changes in financial condition, revenues or
  expenses, results of operations, liquidity, capital
  expenditures or capital resources that is material to
  investors.
  
  Item 3.                      Controls and Procedures.
  
  The management of the Company, including the
  principal executive and financial officer, conducted an
  evaluation of the effectiveness of the design and
  operation of our disclosure controls and procedures as
  defined in Exchange Act Rule 13a-15(e) and 15d-15(e)
  as of March 31, 2008. Based on that evaluation, the
  principal executive and financial officer concluded that
  as of March 31, 2008, our disclosure controls and
  procedures were effective at the reasonable assurance
  level to ensure (i) that information required to be
  disclosed by us in the reports we file or submit under
  the Exchange Act is recorded, processed, summarized
  and reported within the time periods specified in the
  SEC's rules and forms and (ii) that information required
  to be disclosed in reports that we file or submit under
  the Exchange Act is accumulated and communicated to
  our management including our chief executive and
  financial officer, to allow timely decisions regarding
  required disclosure.
  
  
  No change in our internal control over financial
  reporting (as defined in Rules 13a-15(f) and 15d-15(f)
  under the Exchange Act) occurred during the fiscal
  quarter ended March 31, 2008 that has materially
  affected, or is reasonably likely to materially affect, the
  Company's internal control over financial reporting.
  
  PART II - OTHER INFORMATION
  
  Item 1.                      Legal Proceedings.
  
  None.
  
  Item 2.                      Unregistered Sales of Equity
  Securities and Use of Proceeds.
  
  None.
  
  Item 3.                      Defaults Upon Senior Securities.
  
  None.
  
  Item 4.                      Submission of Matters to a Vote
  of Security Holders.
  
  None.
  
  Item 5.                      Other Information.
  
  None.
  
  Item 6.                      Exhibits.
  
  
  
  *3.1
  
  Certificate of Incorporation, as filed with the
  Colorado Secretary of State on February 16,
  2007.
  
  
  
  *3.2
  
  By-Laws
  
  
  
  
  31.1
  
   Certification of Chief Executive Officer pursuant
  to Section 302 of Sarbanes Oxley Act of 2002
  
  
  
  31.2
  
  Certification of Chief Financial Officer pursuant
  to Section 302 of Sarbanes Oxley Act of 2002
  
  
  
  32.1
  
   Certification pursuant to Section 906 of Sarbanes
  Oxley Act of 2002
  
  * Filed as an exhibit to the Company's Registration
  Statement on Form 10-SB, as filed with the Securities
  and Exchange Commission on March 24, 2007, and
  incorporated herein by this reference.
  
          (b) Reports of Form 8-K
  
          None
  
  
  SIGNATURES
  
  In accordance with Section 13 or 15(d) of the Exchange
  Act, the registrant caused this report to be signed on its
  behalf by the undersigned, there unto duly authorized.
  
  Dated: May 14, 2008
  Lexit Technology, Inc.
  By: /s/ A L Kennedy
  President
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  Exhibit 31.1
  
  CERTIFICATION OF
  CHIEF EXECUTIVE OFFICER AND
  CHIEF FINANCIAL OFFICER
  PURSUANT TO
  18 U.S.C. SECTION 1350,
  AS ADOPTED PURSUANT TO SECTION 302 OF
  THE
  SARBANES-OXLEY ACT OF 2002
  
  
  I, A L Kennedy, certify that:
  
  1 I have reviewed this Form 10-QSB of Lexit
  Technology, Inc. (the "Company");
  
  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
  present in this report;
  
  4. The small business issuers 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)) and internal control over financial reporting (as
  defined in Exchange Act Rules 13-a-15(f) and 15d-
  15(f)) 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) Designed such internal control over
  financial reporting, or caused such internal control over
  financial reporting to be designed under our
  supervision, to provide reasonable assurance regarding
  the reliability of financial reporting and the preparation
  of financial statements for external purposes in
  accordance with generally accepted accounting
  principals;
  
          (c) 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
  
          (d) Disclosed in this report any change
  in the small business issuer's internal control over
  financing 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
  reasonable 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 involved management or other employees who
  have a significant rile in the small business issuer's
  internal control over financial reporting.
  
  
  Dated: May 14, 2008
  
  Lexit Technology, Inc.
  
  By: /s/ A L Kennedy
  Chief Executive Officer and
  Chief Financial Officer
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  Exhibit 32.1
  
  
  CERTIFICATION OF CHIEF EXECUTIVE OFFICER
  AND CHIEF FINANCIAL OFFICER
  PURSUANT TO 18 U.S.C. SECTION 1350
  
  In connection with the accompanying Quarterly Report
  On Form 10-QSB of Lexit Technology, Inc. (the
  "Company") for the quarter ending March 31, 2008, I,
  A L Kennedy, Chief Executive Officer and Chief
  Financial Officer of the Company hereby certify
  pursuant to 18 U.S.C. Section 1350, as adopted
  pursuant to Section 906 of the Sarbanes-Oxley Act of
  2002, to the best of my knowledge and belief, that:
  
          1. Such Quarterly Report on Form 10-QSB for
  the quarter ending March 31, 2008, 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 such Quarterly
  Report on Form 10-QSB for the quarter ending March
  31, 2008, fairly presents, in all material respects, the
  financial condition and results of operations of the
  Company.
  
  Dated:  May 14, 2008
  
  Lexit Technology, Inc.
  
  By: /s/ A L Kennedy
  Chief Executive Officer and
  Chief Financial Officer
  
  
  
  
  
  
  - 20 -
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metadata_filer: {"company-data": {"conformed-name": "LEXIT TECHNOLOGY, INC.", "cik": "0001392544", "assigned-sic": "6770", "irs-number": "000000000", "state-of-incorporation": "CO", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "10-Q", "act": "34", "file-number": "000-52503", "film-number": "08850135"}, "business-address": {"street1": "P.O. BOX 152112", "city": "SAN DIEGO", "state": "CA", "zip": "92195", "phone": "619-659-8297"}, "mail-address": {"street1": "P.O. BOX 152112", "city": "SAN DIEGO", "state": "CA", "zip": "92195"}}
text: U.S. SECURITIES AND EXCHANGE
  COMMISSION
  Washington, D.C. 20549
  
  FORM 10-Q
  
  [X] QUARTERLY REPORT PURSUANT TO
  SECTION 13 OR 15(d) OF THE SECURITIES
  EXCHANGE ACT OF 1934
  
  For the quarterly period ended March 31, 2008
  
  [   ] TRANSITION REPORT PURSUANT TO
  SECTION 13 OR 15(d) OF THE SECURITIES
  EXCHANGE ACT OF 1934
  
  For the transition period from
  
  Commission File No. 000-52503
  
  Lexit Technology, Inc.
  (Name of Small Business Issuer in its charter)
  
  Colorado
  -------------------
  (State or other jurisdiction
  of
  (I.R.S. employer
  incorporation or formation)
  identification number)
  
  7486 La Jolla Blvd., Suite 479
  La Jolla, CA 92037
  (Address of principal executive offices) (Zip
  Code)
  
  Issuer's telephone number:  877-565-0515
  Issuer's facsimile number: 302-861-3738
  
  No Change
  (Former name, former address and former
  fiscal year, if changed since last report)
  
  Check whether the issuer (1) filed all reports required to
  be filed by Section 13 or 15(d) of the Exchange Act
  during the preceding 12 months (or for such shorter
  period that the issuer was required to file such reports),
  and (2) has been subject to such filing requirements for
  the past 90 days. Yes [X] No [   ]
  
  Indicate by check mark whether the registrant is a shell
  company (as defined in Rule 12b-2 of the Exchange
  Act). Yes [X] No [   ]
  
  State the number of shares outstanding of each of the
  issuer's classes of common equity, as of May 14, 2008:
  1,390,000 shares of common stock.
  
  LEXIT TECHNOLOGY, INC.
  
  FINANCIAL STATEMENTS
  (Unaudited)
  
  March 31, 2008
  
  LEXIT TECHNOLOGY, INC.
  (A Development Stage Enterprise)
  INDEX TO INTERIM AND UNAUDITED
  FINANCIAL STATEMENTS
  March 31, 2008
  (Unaudited)
  
  Page
  
  Financial Statements
  
  Balance Sheet
  F-1
  
  Statements of Operations
  F-2
  
  Statements of  Changes in Stockholder's
  Equity
  F-3
  
  Statements of Cash Flows
  F-4
  
  Notes to Financial Statements
  F-5 -
  F-6
  
  LEXIT TECHNOLOGY, INC.
  (A Development Stage Enterprise)
  INTERIM AND UNAUDITED BALANCE SHEET
  MARCH 31, 2008
  
  March 31,
  2008
  
  (Unaudited)
  
  ASSETS
  
   Total assets
  
  $
  -
  
  LIABILITIES AND
  STOCKHOLDER'S EQUITY
  
  Commitment and contingencies
  
  $
  -
  
  Stockholder's equity
  
  -
  
  Preferred stock, $.001 par value,
  
   authorized 20,000,000 shares,
  none issued
  
  Common stock, $.001 par value,
  
   authorized 100,000,000 shares,
  
  1,390
  
   1,390,000 issued and outstanding
  
  Additional paid in capital
  
  2,360
  
  Deficit accumulated during the
  development stage
  
  (3,750)
  
   Total stockholder's equity
  
   Total liabilities and stockholder's
  equity
  
  -
  
  $
  -
  
  The accompanying notes are an integral part of these
  financial statements
  
  F-1
  
  LEXIT TECHNOLOGY, INC.
  (A Development Stage Enterprise)
  INTERIM AND UNAUDITED STATEMENTS OF
  OPERATIONS
  (Unaudited)
  
   Income
  For the
  three months
  ended
  March 31,
  2008
  
  For the
  three months
  ended
  March 31,
  2007
  
            For the period
                February 16,
  2007
               (Inception)
  through
                March 31,
  2008
  
  Revenue
  $
  -
  
  $
  -
  
  $
  -
  
  Expenses
  $
  -
  
  $
  -
  
  $
    -
  
  General and
  Administrative
  
  -
  
  1,390
  
  $
  3,750
  
  Total Expenses
  $
  -
  
  $
  (1390)
  
  $
    ($3,750)
  
  Net Loss
  
  (.00)
  
  (1,390)
  
  (3,750)
  
  Net loss per share
  (basic and diluted)
  $
  
  $
  
  $
   (.00)
  
  Weighted average
  shares outstanding
  (basic and diluted)
  
  1,390,000
  
  1,390,000
  
  1,390,000
  
  The accompanying notes are an integral part of these
  financial statements
  
  F-2
  
  LEXIT TECHNOLOGY, INC.
  (A Development Stage Enterprise)
  INTERIM AND UNAUDITED STATEMENTS OF
  CHANGES IN STOCKHOLDER'S EQUITY
  For the period from February 16, 2007 (Inception) to
  March 31, 2008
  (Unaudited)
  
  , ,  ,  , Additional Paid-in Capital , Deficit accumulated ,
  Total
  , , Common Stock , , ,
  , , Shares , Amount , , ,
  Issuance of Common Stock , , , , , , ,
  Balance February 16, 2007, , 0, 0, 0, 0, , 0
  Shares issued in Lieu of expenses paid, February 16,
  2007  , , 1,390,000, $1,390.00, $0.00, $0.00, , $1,390.00
  , , , , , , ,
  Contributed Capital for Services, , ,        , 2,360, , ,
  $2,360.00
  Net Loss , , , , , ($2,360.00), , ($3,750.00)
  Balance  March 31, 2008, , , , , , ,
  , , 1,390,000, $1,390.00, $2,360, ($3,750.00), , 0.00
  , , , , , , ,
   	Additional Paid-in
  Capital  Deficit accumulated 	Total
  
  	The accompanying notes are an integral part of
  these financial statements
  
  F-3
  
  LEXIT TECHNOLOGY, INC.
  (A Development Stage Enterprise)
  INTERIM AND UNAUDITED STATEMENTS OF
  CASH FLOWS
  (Unaudited)
  
  For the
  three
  months
  ended
  March
  31,
  2008
  For the
  three
  months
  ended
  March
  31,
  2007
  
  For the
  period
  February
  16, 2007
  (Inception)
  through
  March 31,
  2008
  
  Cash flows from operating
  activities
  $
  -
  --
  
  Net Loss
  $
  -
  (1390)
  
  $
  (3,750)
  Shares issued in lieu of
  expenses paid
  $
  -
  1390
  
  1390
  
  $
  -
  
  Contributed Capital for
  Services
  
  2,360
  
  $
  
   Cash flows used in
  operating activities
  
  -
  --
  
  -0-
  
  Net increase in cash
  
  --
  
  -
  
  Cash, beginning of period
  
  --
  
  -
  
  Cash, end of period
  
  --
  
  $
  -
  
  SUPPLEMENTAL
  DISCLOSURE OF CASH
  FLOW INFORMATION:
  
  --
  
  Cash paid during the period
  for:
  
  Interest
  
  -
  Income taxes
  
  -
  
  --
  
  --
  
  The accompanying notes are an integral part of these
  financial statements
  
  F-4
  
  LEXIT TECHNOLOGY, INC.
  (A Development Stage Enterprise)
  NOTES TO INTERIM AND UNAUDITED
  FINANCIAL STATEMENTS
  March 31, 2008
  
  NOTE 1 - Organization and Significant Accounting
  Policies
  
  Nature of Operations
  
  Lexit Technology, Inc. ("the Company") was
  incorporated in the State of Colorado on February 16,
  2007 and has been inactive since inception.  The
  company intends to serve as a vehicle to effect an asset
  acquisition, merger, exchange of capital stock or other
  business combination with a domestic or foreign
  business. It is currently in its development stage.
  
  As a blank check company, the Company's business is
  to pursue a business combination through acquisition,
  or merger with, an existing company.  The Company
  has subsequently entered into an asset purchase
  agreement which is referenced in Note 5.
  
  Since inception, the Company has been engaged in
  organizational efforts.
  
  General
  
  The accompanying unaudited financial statements
  include all adjustments of a normal and recurring
  nature, which, in the opinion of Company's
  management, are necessary to present fairly the
  Company's financial position as of March 31, 2008,
  and March 31, 2007, the results of its operations for the
  three months ended March 31, 2008, and March 31,
  2007, and from the date of inception (February 16,
  2007) through March 31, 2008, and cash flows for the
  three months ended March 31, 2008 and March 31,
  2007 and from the date of inception (February 16,
  2007) through March 31, 2008.
  
  Certain information and footnote disclosures normally
  included in financial statements prepared in accordance
  with generally accepted accounting principles have
  been omitted pursuant to the rules and regulations of
  the Securities and Exchange Commission.
  
  The results of operations and cash flows for the three
  months ended March 31, 2008 are not necessarily
  indicative of the results to be expected for the full
  year's operation.
  
  NOTE 2 - SUMMARY OF SIGNIFICANT
  ACCOUNTING POLICIES
  
  The accompanying financial statements are prepared in
  accordance with accounting principles generally
  accepted in the United States. Significant accounting
  policies follow:
  
  Loss per Common Share: Basic loss per share is
  calculated using the weighted-average number of
  common shares outstanding during each period. Diluted
  loss per share includes potentially dilutive securities
  such as outstanding options and warrants, using various
  methods such as the treasury stock or modified treasury
  stock method in the determination of dilutive shares
  outstanding during each period. The Company does not
  have any potentially dilutive instruments.
  
  F-5
  
  New Accounting Pronouncements:
  
  Management does not believe that any other recently
  issued, but not yet effective accounting
  pronouncements, if adopted, would have a material
  effect on the accompanying financial statements.
  
  NOTE 3 - GOING CONCERN
  
  The accompanying financial statements have been
  prepared assuming that the Company will continue as a
  going concern, which contemplates the recoverability
  of assets and the satisfaction of liabilities in the normal
  course of business.
  
  The Company has had no revenue and has incurred
  accumulated net losses from February 16, 2007
  (inception) through the period ended March 31, 2008 of
  $3,750. In addition, the Company's development
  activities since inception have been financially
  sustained through equity financing.
  
  The ability of the Company to continue as a going
  concern is dependent upon its ability to find a suitable
  acquisition/merger candidate, raise additional capital
  from the sale of common stock, and receive additional
  paid-in capital from its shareholder and, ultimately, the
  achievement of significant operating revenues. The
  accompanying financial statements do not include any
  adjustments that might be required should the Company
  be unable to recover the value of its assets or satisfy its
  liabilities
  
  NOTE 4 - SHAREHOLDER'S EQUITY
  
  Holders of shares of common stock shall be entitled to
  cast one vote for each common share held at all
  stockholder's meetings for all purposes, including the
  election of directors. The common stock does not have
  cumulative voting rights.
  
  The preferred stock of the Company shall be issued by
  the Board of Directors of the Company in one or more
  classes or one or more series within any class and such
  classes or series shall have such voting powers, full or
  limited, or no voting powers, and such designations,
  preferences, limitations or restrictions as the Board of
  Directors of the Company may determine, from time to
  time.
  
  No holder of shares of stock of any class shall be
  entitled as a matter of right to subscribe for or purchase
  or receive any part of any new or additional issue of
  shares of stock of any class, or of securities convertible
  into shares of stock of any class, whether now hereafter
  authorized or whether issued for money, for
  consideration other than money, or by way of dividend.
  
  Item 2.                      Management's Discussion and
  Analysis or Plan of Operation.
  
  Plan of Operation
  
  The Company will attempt to locate and negotiate with
  a business entity for the combination of that target
  company with the Company. The combination will
  normally take the form of a merger, stock-for-stock
  exchange or stock-for- assets exchange (the "business
  combination"). In most instances the target company
  will wish to structure the business combination to be
  within the definition of a tax-free reorganization under
  Section 351 or Section 368 of the Internal Revenue
  Code of 1986, as amended. As of the date of this report,
  the Company has identified an undisclosed potential
  target company for a possible business
  combination.  The Company is currently engaged in
  preliminary negotiations with the target company.  No
  assurances can be given that the Company will be
  successful in locating or negotiating with any target
  company.
  F-5
  
  The Company has not restricted its search for any
  specific kind of businesses, and it may acquire a
  business which is in its preliminary or development
  stage, which is already in operation, or in essentially
  any stage of its business life. It is impossible to predict
  the status of any business in which the Company may
  become engaged, in that such business may need to
  seek additional capital, may desire to have its shares
  publicly traded, or may seek other perceived advantages
  which the Company may offer.
  
  In implementing a structure for a particular business
  acquisition, the Company may become a party to a
  merger, consolidation, reorganization, joint venture, or
  licensing agreement with another corporation or entity.
  
  It is anticipated that any securities issued in any such
  business combination would be issued in reliance upon
  exemption from registration under applicable federal
  and state securities laws. In some circumstances,
  however, as a negotiated element of its transaction, the
  Company may agree to register all or a part of such
  securities immediately after the transaction is
  consummated or at specified times thereafter. If such
  registration occurs, it will be undertaken by the
  surviving entity after the Company has entered into an
  agreement for a business combination or has
  consummated a business combination.
  
  The issuance of additional securities and their potential
  sale into any trading market which may develop in the
  Company's securities may depress the market value of
  the Company's securities in the future if such a market
  develops, of which there is no assurance. However, if
  the Company cannot effect a non-cash acquisition, the
  Company may have to raise funds from a private
  offering of its securities under Rule 506 of Regulation
  D. There is no assurance the Company would obtain
  any such equity funding.
  
  The Company will participate in a business
  combination only after the negotiation and execution of
  appropriate agreements. Negotiations with a target
  company will likely focus on the percentage of the
  Company which the target company shareholders
  would acquire in exchange for their shareholdings.
  
  Although the terms of such agreements cannot be
  predicted, generally such agreements will require
  certain representations and warranties of the parties
  thereto, will specify certain events of default, will detail
  the terms of closing and the conditions which must be
  satisfied by the parties prior to and after such closing
  and will include miscellaneous other terms. Any merger
  or acquisition effected by the Company can be expected
  to have a significant dilutive effect on the percentage of
  shares held by the Company's shareholders at such
  time.
  
  Item 2. Management's Discussion and Analysis of
  Financial Conditions and Results of Operations Plan of
  Operation
  
  On November 6, 2007, the Company entered into an
  Asset Purchase Agreement with SmartWear
  Technologies,  Inc., to purchase substantially all of the
  properties, rights, patents, trademarks and assets used
  by SmartWear Technologies, Inc. in conducting its
  business of providing (i) RFID and GPS personal safety
  and security technology and (ii) information technology
  security, tracking and data solutions to various
  businesses and consumers.
  
  The purchase price for the SmartWear Technologies,
  Inc. assets shall be a number of shares of the
  Registrant's common stock which will be equal to the
  number of shares of SmartWear Technologies, Inc.
  common stock outstanding at the time of closing.  In
  addition, SmartWear Technologies, Inc. has agreed to
  pay the Registrant's sole shareholder a total of $5,000
  in exchange for his agreement to surrender all of his
  shares of the Registrant's common stock for
  cancellation at the time of closing.  As a result of these
  transactions (the "Transactions"), the shares of the
  Registrant's common stock issued to SmartWear
  Technologies, Inc. will represent 100% of the
  Registrant's outstanding common stock after the
  completion of the Transactions.
  
  F-6
  
  The closing of the Transactions is scheduled to take
  place within five (5) days after the date when each of
  the conditions to closing set forth in the Purchase
  Agreement have been fulfilled (or waived by the party
  entitled to waive such condition), including, among
  others, the approval of the sale of assets by the
  stockholders of SmartWear Technologies, Inc., and the
  effectiveness of a Registration Statement on Form S-4
  which will be filed with the Securities and Exchange
  Commission to register the shares being issued to
  SmartWear Technologies, Inc.
  
  The existing sole officer and director of the Registrant
  will resign upon the closing of the Transactions and a
  new management team and new Board of Directors
  consisting of individuals to be designated by
  SmartWear Technologies, Inc. will be appointed.
  
  If the Transactions are not completed, the Company
  will attempt to locate and negotiate with a business
  entity for the combination of that target company with
  the Company. The combination will normally take the
  form of a merger, stock-for-stock exchange or stock-
  for- assets exchange (the "business combination"). In
  most instances the target company will wish to structure
  the business combination to be within the definition of
  a tax-free reorganization under Section 351 or Section
  368 of the Internal Revenue Code of 1986, as amended.
  No assurances can be given that the Company will be
  successful in locating or negotiating with any target
  business.
  
  The Company has not restricted its search for any
  specific kind of businesses, and it may acquire a
  business which is in its preliminary or development
  stage, which is already in operation, or in essentially
  any stage of its business life. It is impossible to predict
  the status of any business in which the Company may
  become engaged, in that such business may need to
  seek additional capital, may desire to have its shares
  publicly traded, or may seek other perceived advantages
  which the Company may offer.
  
  In implementing a structure for a particular business
  acquisition, the Company may become a party to a
  merger, consolidation, reorganization, joint venture, or
  licensing agreement with another corporation or entity.
  
  It is anticipated that any securities issued in any such
  business combination would be issued in reliance upon
  exemption from registration under applicable federal
  and state securities laws. In some circumstances,
  however, as a negotiated element of its transaction, the
  Company may agree to register all or a part of such
  securities immediately after the transaction is
  consummated or at specified times thereafter. If such
  registration occurs, it will be undertaken by the
  surviving entity after the Company has entered into an
  agreement for a business combination or has
  consummated a business combination. The issuance of
  additional securities and their potential sale into any
  trading market which may develop in the Company's
  securities may depress the market value of the
  Company's securities in the future if such a market
  develops, of which there is no assurance. However, if
  the Company cannot effect a non-cash acquisition, the
  Company may have to raise funds from a private
  offering of its securities under Rule 506 of Regulation
  D. There is no assurance the Company would obtain
  any such equity funding.
  
  The Company will participate in a business
  combination only after the negotiation and execution of
  appropriate agreements. Negotiations with a target
  company will likely focus on the percentage of the
  Company which the target company shareholders
  would acquire in exchange for their shareholdings.
  Although the terms of such agreements cannot be
  predicted, generally such agreements will require
  certain representations and warranties of the parties
  thereto, will specify certain events of default, will detail
  the terms of closing and the conditions which must be
  satisfied by the parties prior to and after such closing
  and will include miscellaneous other terms. Any merger
  or acquisition effected by the Company can be expected
  to have a significant dilutive effect on the percentage of
  shares held by the Company's shareholders at such
  time.
  
  Results of Operation
  
  The Company has not conducted any active operations
  since inception, except for its efforts to locate suitable
  acquisition candidates. No revenue has been generated
  by the Company from February 16, 2007 (inception) to
  March 31, 2008. It is unlikely the Company will have
  any revenues unless it is able to effect an acquisition or
  merger with an operating company, of which there can
  be no assurance.
  
  Liquidity and Capital Resources
  
  Expenses incurred since inception are primarily due to
  legal, accounting and other professional service fees.
  
  At March 31, 2008, the Company had no capital
  resources and will rely upon the issuance of common
  stock and additional capital contributions from
  shareholders to fund administrative expenses pending
  acquisition of an operating company.
  
  Management anticipates seeking out a target company
  through solicitation. Such solicitation may include
  newspaper or magazine advertisements, mailings and
  other distributions to law firms, accounting firms,
  investment bankers, financial advisors and similar
  persons, the use of one or more World Wide Web sites
  and similar methods. No estimate can be made as to the
  number of persons who will be contacted or solicited.
  Management may engage in such solicitation directly or
  may employ one or more other entities to conduct or
  assist in such solicitation. Management and its affiliates
  will pay referral fees to consultants and others who
  refer target businesses for mergers into public
  companies in which management and its affiliates have
  an interest. Payments are made if a business
  combination occurs, and may consist of cash or a
  portion of the stock in the Company retained by
  management and its affiliates, or both.
  
  The Company and/or shareholders will supervise the
  search for target companies as potential candidates for a
  business combination. The Company and/or
  shareholders may pay as their own expenses any costs
  incurred in supervising the search for a target company.
  The Company and/or shareholders may enter into
  agreements with other consultants to assist in locating a
  target company and may share stock received by it or
  cash resulting from the sale of its securities with such
  other consultants.
  
  Off-balance sheet arrangements
  
  The Company does not have any off-balance sheet
  arrangements that have or are reasonably likely to have
  a current or future effect on the Company's financial
  condition, changes in financial condition, revenues or
  expenses, results of operations, liquidity, capital
  expenditures or capital resources that is material to
  investors.
  
  Item 3.                      Controls and Procedures.
  
  The management of the Company, including the
  principal executive and financial officer, conducted an
  evaluation of the effectiveness of the design and
  operation of our disclosure controls and procedures as
  defined in Exchange Act Rule 13a-15(e) and 15d-15(e)
  as of March 31, 2008. Based on that evaluation, the
  principal executive and financial officer concluded that
  as of March 31, 2008, our disclosure controls and
  procedures were effective at the reasonable assurance
  level to ensure (i) that information required to be
  disclosed by us in the reports we file or submit under
  the Exchange Act is recorded, processed, summarized
  and reported within the time periods specified in the
  SEC's rules and forms and (ii) that information required
  to be disclosed in reports that we file or submit under
  the Exchange Act is accumulated and communicated to
  our management including our chief executive and
  financial officer, to allow timely decisions regarding
  required disclosure.
  
  No change in our internal control over financial
  reporting (as defined in Rules 13a-15(f) and 15d-15(f)
  under the Exchange Act) occurred during the fiscal
  quarter ended March 31, 2008 that has materially
  affected, or is reasonably likely to materially affect, the
  Company's internal control over financial reporting.
  
  PART II - OTHER INFORMATION
  
  Item 1.                      Legal Proceedings.
  
  None.
  
  Item 2.                      Unregistered Sales of Equity
  Securities and Use of Proceeds.
  
  None.
  
  Item 3.                      Defaults Upon Senior Securities.
  
  None.
  
  Item 4.                      Submission of Matters to a Vote
  of Security Holders.
  
  None.
  
  Item 5.                      Other Information.
  
  None.
  
  Item 6.                      Exhibits.
  
  *3.1
  
  Certificate of Incorporation, as filed with the
  Colorado Secretary of State on February 16,
  2007.
  
  *3.2
  
  By-Laws
  
  31.1
  
   Certification of Chief Executive Officer pursuant
  to Section 302 of Sarbanes Oxley Act of 2002
  
  31.2
  
  Certification of Chief Financial Officer pursuant
  to Section 302 of Sarbanes Oxley Act of 2002
  
  32.1
  
   Certification pursuant to Section 906 of Sarbanes
  Oxley Act of 2002
  
  * Filed as an exhibit to the Company's Registration
  Statement on Form 10-SB, as filed with the Securities
  and Exchange Commission on March 24, 2007, and
  incorporated herein by this reference.
  
          (b) Reports of Form 8-K
  
          None
  
  SIGNATURES
  
  In accordance with Section 13 or 15(d) of the Exchange
  Act, the registrant caused this report to be signed on its
  behalf by the undersigned, there unto duly authorized.
  
  Dated: May 14, 2008
  Lexit Technology, Inc.
  By: /s/ A L Kennedy
  President
  
  Exhibit 31.1
  
  CERTIFICATION OF
  CHIEF EXECUTIVE OFFICER AND
  CHIEF FINANCIAL OFFICER
  PURSUANT TO
  18 U.S.C. SECTION 1350,
  AS ADOPTED PURSUANT TO SECTION 302 OF
  THE
  SARBANES-OXLEY ACT OF 2002
  
  I, A L Kennedy, certify that:
  
  1 I have reviewed this Form 10-QSB of Lexit
  Technology, Inc. (the "Company");
  
  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
  present in this report;
  
  4. The small business issuers 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)) and internal control over financial reporting (as
  defined in Exchange Act Rules 13-a-15(f) and 15d-
  15(f)) 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) Designed such internal control over
  financial reporting, or caused such internal control over
  financial reporting to be designed under our
  supervision, to provide reasonable assurance regarding
  the reliability of financial reporting and the preparation
  of financial statements for external purposes in
  accordance with generally accepted accounting
  principals;
  
          (c) 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
  
          (d) Disclosed in this report any change
  in the small business issuer's internal control over
  financing 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
  reasonable 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 involved management or other employees who
  have a significant rile in the small business issuer's
  internal control over financial reporting.
  
  Dated: May 14, 2008
  
  Lexit Technology, Inc.
  
  By: /s/ A L Kennedy
  Chief Executive Officer and
  Chief Financial Officer
  
  Exhibit 32.1
  
  CERTIFICATION OF CHIEF EXECUTIVE OFFICER
  AND CHIEF FINANCIAL OFFICER
  PURSUANT TO 18 U.S.C. SECTION 1350
  
  In connection with the accompanying Quarterly Report
  On Form 10-QSB of Lexit Technology, Inc. (the
  "Company") for the quarter ending March 31, 2008, I,
  A L Kennedy, Chief Executive Officer and Chief
  Financial Officer of the Company hereby certify
  pursuant to 18 U.S.C. Section 1350, as adopted
  pursuant to Section 906 of the Sarbanes-Oxley Act of
  2002, to the best of my knowledge and belief, that:
  
          1. Such Quarterly Report on Form 10-QSB for
  the quarter ending March 31, 2008, 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 such Quarterly
  Report on Form 10-QSB for the quarter ending March
  31, 2008, fairly presents, in all material respects, the
  financial condition and results of operations of the
  Company.
  
  Dated:  May 14, 2008
  
  Lexit Technology, Inc.
  
  By: /s/ A L Kennedy
  Chief Executive Officer and
  Chief Financial Officer
  
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