CLX Medical 10Q/A 2006 Q0 Quarterly report (amended)

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q/A

PURSUANT TO SECTION 13 OR 15 (d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the Quarter Ended

December 31, 2005

Commission File Number

0-9392

CLX INVESTMENT COMPANY, INC.

(Exact Name of Registrant as Specified in Its Charter)


Colorado	84-0749623
(State or other jurisdiction of incorporation or organization)	(IRS Employer Identification Number)
43180 Business Park Drive #202, Temecula, CA	92590
(Address of principal executive offices)	(Zip Code)
(951) 587-9100 Issuer's telephone number, including area code N/A (Registrant's Former Name and Address)

Check whether the Issuer (1) 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. Yes [ X] No[ ]

Indicate the number of shares outstanding of each of the issuer's class of common stock, as of the last practicable date.


Class	Outstanding at June 1, 2006
Common Stock, $0.01 par value	118,060,668 shares

EXPLANATORY NOTE:

This amendment to the Company’s Form 10-Q originally filed on May 9, 2006 for the quarter ended December 31, 2005 adds certain financial disclosure in conformity with Regulation S-X.

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

CLX INVESTMENT COMPANY, INC.

FINANCIAL STATEMENTS

December 31, 2005


CLX Investment Company, Inc. Balance Sheets (unaudited) ASSETS
			December 31,		December 31,
			2005		2004
Current Assets
	Cash	$	209	$	5,523
	Accrued Interest		-		50
Total Current Assets			209		5,573
Investments ( Note2)
	Advances on credit lines-nonaffiliates		225,563
	Advances on credit lines-affiliates		240,934
	Investments – nonaffiliates		91,432
	Investments – affiliates		62,080		70,000
	Total Investments		620,009		70,000
	Total Assets	$	620,218	$	75,573
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Current Liabilities
	Accounts Payable	$	54,206	$	6,561
	Interest Payable		22,875		3,340
	Notes payable related party (Note 3)		10,000		-
	Stock Payable		295,488		-
	Convertible Debentures (Note 4)		-		154,000
	Total Current Liabilities		382,569		163,901
Long-Term Liabilities
	Notes Payable (Note 4)		200,000		-
	Total Liabilities		582,569		�� 163,901
Stockholders' Equity (Deficit)
	Preferred Stock, Authorized 20,000,000 Shares, $0.01 Par Value, 100,000 and 0 Shares Issued and Outstanding respectively (Note 6)		1,000		-
	Common Stock, Authorized 1,980,000,000 Shares, $0.01 Par Value, 53,978,584 and 1,797,634 Shares Issued and Outstanding respectively (Note 5)		539,785		17,976
	Additional Paid in Capital		1,234,401		813,222
	Retained Deficit		(1,737,537)		(919,526)
Total Stockholders' Equity (Deficit)			37,649		(88,328)
	Total Liabilities and Stockholders' Equity (Deficit)	$	620,218	$	75,573
	Net Asset Value per share	$	0.0007	$	(0.0491)
The accompanying notes are an integral part of these financial statements.


CLX Investment Company, Inc.
Schedule of Investments (unaudited)
December 31, 2005
EQUITY INVESTMENTS:
	Description	Percent
Company	of Business	Ownership		Investment		Fair Value
Non affiliated companies:
ActionView International, Inc. (1)	Advertising	3%		114,290		91,432
Total non affiliated companies			$	114,290	$	91,432
Affiliated Companies:
eStrategy Solutions, Inc. (2)	e-Learning	60%	$	62,080	$	62,080
Zonda, Incorporated (3)	Medical diagnostic	31%		-		-
Total affiliated companies				62,080		62,080
Total Investments				176,370		153,512

COMMERCIAL LOANS:
	Description
Company	of Business			Type of Credit
Non affiliated companies:
ActionView International, Inc.	Advertising			Credit Line		225,563
Total loans to non affiliates					$	225,563
Affiliated Companies:
eStrategy Solutions, Inc.	e-Learning			Credit Line	$	145,456
Zonda, Incorporated	Medical diagnostic			Credit Line		95,478
Total loans to affiliates						240,934
Total Loans						466,497
TOTAL INVESTMENTS AND LOANS					$	620,009


(1) The Company will receive 2,000,000 shares of restricted common stock of ActionView International, Inc. (sticker symbol of AVWI as quoted on the OTCBB) as consideration for providing a $350,000 line of credit. The line of credit bears interest at an eight percent (8%) per annum and the principal and interest are due on the earlier of December 31, 2006 or on the month following the quarter in which AVWI generates net quarterly income of at least $150,000.The Company has only extended $221,653 on the line of credit and added $3,910 of interest for a total due of $225,563 as of December 31, 2005 and as a result AVWI has only issued 1,142,900 shares of its restricted common stock. The fair value of the shares of AVWI at the date of the financing agreement was $0.10 per share therefore the Company has recorded thecost basis of all shares received from AVWI (1,142,900) at $0.10, for a total investment value of $114,290. T his value was recognized as revenue on the operating statement and recorded as investment income. The fair value of the shares received from AVWI as of December 31, 2006 is $91,432 based on a closing bid price of $0.08 per share.

(3) The Company purchased 49% of eStrategy capital stock for $62,080. The Company controls an additional 11% that has been put in a trust fund and will be returned to eStrategy's management upon achieving profitability in three successive months. As of December 31, 2005 the Company has advanced eStrategy $142,408 under an operating line of credit and added $3,048 of interest for a total of $145,456. The line of credit bears interest at an eight percent (8%) per annum and the principal and interest are due on December 31, 2007.
(4) The Company received 31% ownership in Zonda, Inc. for providing a $500,000 line of credit. The Company valued the original investment of Zonda at $0.00 based on its start up nature. As of December 31, 2005 the Company has advanced Zonda $94,136 under an operating line of credit and added $1,343 of interest for a total of $95,478. The line of credit bears interest at an eight percent (8%) per annum and the principal and interest are due on December 31, 2007. The repayment of the line of credit, plus accrued interest, shall accelerate following the third consecutive month in which Zonda generates net income (EBIT) of at least $50,000. The Company estimates the fair value of Zonda to be $0.00 based on the fact that the shares are restricted and there is no market for its stock and it would be difficult to liquidate any of the shares.


The accompanying notes are an integral part of these financial statements.


CLX Investment Company, Inc. Statements of Operations (unaudited)
		For Three Months Ended December 31,
		2005		2004

Investment Revenue

Interest income from non-affiliates	$	61,050	$	-
Interest income from affiliates		4,391		50
Total Revenues		65,441		50
Operating Expenses
General & administrative		46,903		60,909
Management service fee		31,576		-
Investor relations		17,251		-
Interest expense		8,818		161,340
Professional fees		4,599		9,629
Total Operating Expenses		109,147		231,878
Net Operating Income (Loss)		(43,706)		(231,828)
Other Income (Expense)
Unrealized loss on non affiliated investment		(22,858)		-
Gain on extinguishments of Debt		2,400		-
Total Other (Expense)		(20,458)		-
LOSS FROM CONTINUING OPERATIONS		(64,164)		(231,828)
Income Tax Expense		-		-
Net Loss	$	(64,164)	$	(231,828)
Net Loss Per Share	$	(0.001)	$	(0.166)
Weighted Average Shares Outstanding		53,786,736		1,397,634
The accompanying notes are an integral part of these financial statements.


CLX Investment Company, Inc.
Statements of Changes in Net Assets
(unaudited)
	For the three months ended
	December 31,
	2005		2004

OPERATIONS:
Net investment loss	$	(43,706)	$	(231,828)

Net unrealized loss on investment transactions		(22,858)		-
Gain on extinguishments of debt		2,400
Net decrease in net assets resulting from operations		(64,164)		(231,828)

SHAREHOLDER ACTIVITY:
Stock issued for cash		4,499		-
Stock issued for conversion of debt		3000		166,000
NET INCREASE (DECREASE) IN ASSET VALUE		(56,665)		(65,828)

NET ASSETS:
Beginning of Period		94,314		(22,500)

End of Period	$	37,649	$	(88,328)
The accompanying notes are an integral part of these financial statements.


CLX Investment Company, Inc.
Statements of Stockholders' Equity
					Additional	Retained
	Preferred Stock		Common Stock		Paid-in	Earnings
	Shares	Amount	Shares	Amount	Capital	(Deficit)
Balance, September 30, 2003	-	$ -	3,509,873	$ 35,098	$ 838,163	$ (663,582)
October, 2003 retirement of Treasury stock	-	-	(1,000)	(10)	10	-
September 2, 2004, sale of subsidiary for exchange of shares	-	-	(1,911,743)	(19,117)	(188,945)	-
Net loss for period ended September 30, 2004	-	-	-	-	-	(24,116)
Balance, September 30,2004	-	-	1,597,130	15,971	649,228	(687,698)
Stock issued on conversion of debentures, November 2004 through September 2005	-	-	9,334,996	93,350	(23,350)	-
Beneficial Conversion Expense related to Convertible Debentures	-	-	-	-	696,888	-
Common Stock issued for extinguishments of debt	-	-	1,333,571	13,336	(3,336)	-
Stock issued for cash sale, January 2005 through September 2005	-	-	35,495,211	354,952	(57,852)	-
Preferred Stock issued February 1, 2005	9,000,000	90,000	-	-	-	-
Restricted stock issued for cash on February 1, 2005	-	-	4,000,712	40,007	(25,007)	-
Cancel preferred stock	(7,650,000)	(76,500)	-	-	-	-
Cancel preferred stock and issue restricted common	(1,250,000)	(12,500)	1,666,964	16,670	(4,170)	-
Net Loss for period ended September 30, 2005	-	-	-	-	-	(985,674)
Balance, September 30, 2005	100,000	$ 1,000	53,428,584	$ 534,285	$ 1,232,401	$ (1,673,372)
Stock issued on conversion of debentures (unaudited)	-	-	300,000	3,000	-	-
Stock issued for cash sale (unaudited)	-	-	250,000	2,500	2,000	-
Net Loss for period ended December 31, 2005 (unaudited)	-	-	-	-	-	(64,164)
Balance, December 31, 2005 (unaudited)	100,000	$ 1,000	53,978,584	$ 539,785	$ 1,234,401	$ (1,737,537)

The accompanying notes are an integral part of these financial statements.


CLX Investment Company, Inc. Statements of Cash Flows (unaudited)
		For the Three Months ended December 31,
		2005		2004
Cash Flows from Operating Activities:
Net Loss	$	(64,165)	$	(231,828)
Adjustments to Reconcile Net Loss to Net Cash Provided by Operations:
Unrealized loss on investment - non affiliated		22,858		-
Recognition of investment income- interest		(57140)
Beneficial conversion expense		-		160,000
Gain on extinguishments of debt		(2,400)		-
Bad debt allowance		-		10,000
Changes in Operating Assets and Liabilities:
Increase (Decrease) in:
Increase (decrease) in accrued expense		8,803		(1,710)
Increase (decrease) in accounts payable		12,468		(5,939)
Net Cash (Used) by Operating Activities		(79,576)		(69,477)
Cash Flows from Investing Activities:
Investment in portfolio companies		-		(60,000)
Advances on line of Credit to portfolio companies		(185,564)		(10,000)
Net Cash Used by Investing Activities		(185,564)		(70,000)
Cash Flows from Financing Activities:
Cash from stock payable		75,000		-
Sale of stock		4,500		-
Proceeds from convertible debentures		-		150,000
Repayments of convertible debentures		-		(135,000)
Net Cash Provided by Financing Activities		79,500		15,000
Decrease in Cash		(185,640)		(124,477)
Cash at Beginning of Period		185,849		130,000
Cash at End of Period	$	209	$	5,523
Cash Paid For:
Interest	$	-	$	-
Income taxes	$	-	$	-
Non-Cash Investing and Financing Activities:
Stock issued for conversion of convertible debentures	$	3,000	$	6,000
The accompanying notes are an integral part of these financial statements.


CLX Investment Company, Inc.
Financial Highlights
(unaudited)
Per Unit Operating Performance:
	Three Months Ended
	December 31,
		2005		2004
NET ASSET VALUE, BEGINNING OF PERIOD	$	0.001747	$	(0.012516)
INCOME FROM INVESTMENT OPERATIONS:
Net investment loss		(0.000810)		(0.128963)
Net unrealized loss on investment transactions		(0.000423)		-
Gain on extinguishments of debt		0.0000445		-
Total from investment operations		0.00056		(0.141479)

Net increase in net assets resulting from stock sales		0.00008
Net increase in net assets resulting from conversion of debt		0.00006		0.092344
NET ASSET VALUE, END OF PERIOD	$	0.000697	$	(0.049136)

TOTAL NET ASSET VALUE RETURN (1)		(60.08) %	(492.57) %

RATIOS AND SUPPLEMENTAL DATA:
Net assets, end of period	$	37,649	$	(88,328)
Ratios to average net assets: *
Net expenses		1,159.63%		1,050.08%
Net investment loss		(464.35) %		(1,049.85)%
Portfolio Turnover Rate		-		-

* Annualized

(1) Net Asset Value Return reflects the impact of stock issues during the periods presented. Omitting these issuances, the Net Asset Value Return would have been (68.03) % and (1,230.35) % respectively.

The accompanying notes are an integral part of these financial statements.

CLX INVESTMENT COMPANY, INC.

Notes to the Financial Statements

December 31, 2005 and 2004

NOTE 1 - NATURE OF ORGANIZATION

This summary of significant accounting policies of CLX Investment Company, Inc. is presented to assist in understanding the Company's financial statements. The financial statements and notes are representations of the Company's management who are responsible for their integrity and objectivity. In the opinion of management, all adjustments which are necessary for a fair presentation of the financial statements have been included. These accounting policies conform to accounting principles generally accepted in the United States of America and have been consistently applied in the preparation of the financial statements.

a. Organization and Business Activities

CLX Investment Company, Inc. (“the Company” or “CLXN”) is an investment company reporting under the Investment Company Act of 1940 as a “Business Development Company”. The Company was incorporated on December 12, 1977 under the laws of the State of Colorado as Calvin Exploration Company, Inc. to engage in any lawful activity as shall be appropriate under laws of the State of Colorado.

On May 24, 2004 the Company appointed new management and moved its headquarters to Temecula, CA. At the same time the Company formed CLX Oil & GAS, LLC a wholly owned subsidiary of CLX Energy, Inc. and transferred all of the oil and gas operations of the Company (including the assets and liabilities pertaining to such operations) into CLX Oil & Gas, LLC. On September 1, 2004 the Company sold 100% of its interest in CLX Oil & Gas, LLC to certain shareholders of the Company in exchange for shares of CLX Energy, Inc. The shareholders returned 1,433,552 shares in exchange for 100% interest in CLX Oil & GAS, LLC. The Board of Directors approved the "Securities Purchase and Sale Agreement" and also obtained a fairness opinion from Lehrer Financial and Economic Advisory Service indicating that the Securities Purchase and Sale Agreement was a fair and equitable exchange. The sale of the subsidiary has been accounted for as an asset sale transaction and al l gas and oil operations are reported as discontinued operations on the financial records.

On September 13, 2004, the Company filed with the Securities and Exchange Commission to become a Business Development Corporation as defined under the Investment Act of 1940. Additionally, on September 13, 2004, the Company filed an offering circular with the SEC for up to $5,000,000 of common stock under Regulation E of the Investment Act to raise capital and to make investments in eligible emerging or early-stage companies in various fields of business by arranging for and contributing capital and providing management assistance. In anticipation of the election to become a BDC, the Company changed its name to CLX Investment Company, Inc. on September 1, 2004 to properly reflect the nature of its business.

The Company presently has three portfolio investments: eStrategy Solutions, Inc., ActionView International, Inc, and Zonda, Inc.

NOTE 2 – RELATED PARTY TRANSACTIONS

The Company executed a note payable on June 21, 2005 with Arthur Stone, a member of the board of directors, for $10,000. The note bears interest at eight percent (8%) per annum and is due on June 21, 2006.

NOTE 3 – STOCK PAYABLE

During the quarter ended December 31, 2005, the Company received $75,000 in exchange for 7,500,000 shares of common stock and exchanged $220,488 in convertible debentures into 22,048,800 shares of common stock. Both transaction were with a third part financing company, Sequoia International. Sequoia has agreed to place all of its shares acquired into an escrow account to prevent their immediate resale into the public. While in escrow, the shares will be voted by the Company’s board of directors and cannot be resold. As of December 31, 2006, the Company and Sequoia had not finished establishing the escrow and, as a consequence, the shares had not yet been issued. As a result, the Company recorded a stock payable at December 31, 2005.

NOTE 4 - CONVERTIBLE DEBENTURES

During the quarter ended December 31, 2005, the Company restructured $200,000 in convertible debentures into promissory notes payable due on December 19, 2007 and bearing interest at the rate of 8% per annum. These debentures were convertible into stock but the holder, Michael Chavez, gave up the right to convert the debentures into stock and took a promissory note for the amount of $200,000 and will not have any future ability to convert the debt into stock. As a result, this portion of the Company’s convertible debentures has been classified as long-term debt.

During the quarter ended December 31, 2005, the Company converted $220,488 in convertible debentures into 22,048,800 shares of common stock. As of December 31, 2005, the shares had not been issued, resulting in a stock payable of $220,448 (see Note 3, above).

NOTE 5 – EQUITY TRANSACTIONS

During the quarter ended December 31, 2005, the Company issued 300,000 shares of common stock on the conversion of $5,400 of convertible debentures. The Company also issued 250,000 shares of common stock for a cash of $4,500. This stock was issued unrestricted under the Company’s exemption from registration pursuant to Regulation E.

The shares sold pursuant to the Company’s offering circular under Regulation E were sold by the Company’s Chief Executive Officer without the assistance of any broker dealers. The Company relied on Regulation E in making these sales. No advertising or general solicitation was employed in offering these shares. Each purchaser received a copy of the Company’s offering circular. The shares sold in reliance on Regulation E are not restricted securities.

During the quarter ended September 30, 2005, the Company declared a 1-for-3 stock dividend for all shareholders of record as of September 30, 2005. This resulted in the issuance of 13,497,567 shares of restricted common stock. The stock dividend was treated as a stock split for accounting purposes. As a result, the shares issued in the split have been retroactively shown as issued and outstanding for all periods presented.

NOTE 6 - SUBSEQUENT EVENTS

Stock Transactions

Subsequent to December 31, 2005 the Company issued 29,548,800 shares of common stock for a stock payable of $295,488. These shares are held in an escrow account for the benefit of Sequoia International, Ltd. to prevent their immediate resale. While in escrow, the shares are voted by the Company’s Board of Directors. In addition, the Company also issued 12,610,000 shares of common stock for cash totaling $128,860. This stock was issued unrestricted under the Company’s exemption from registration pursuant to Regulation E.

Subsequent to December 31, 2005 the Company cancelled the 100,000 shares of series B Preferred stock that had been issued to Sequoia International. Sequoia International agreed to this cancellation so that the Company would be able to comply to the requirements of the Investment Company act of 1940.

Portfolio Investments

Subsequent to December 31, 2005, the Company made an additional investment of $157,851 into its portfolio company Zonda, Inc. in the form of additional draws against the line of credit agreement.

NOTE 7 - GOING CONCERN

The ability of the Company to continue as a going concern is dependant upon its ability to successfully seek out and consummate investments, or to secure other sources of financing such that it may commence profitable operations. Further, if the Company is not able to generate positive cash flow from operations, or is unable to secure adequate funding under acceptable terms, there is substantial doubt that the company an continue as a going concern. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS

OF OPERATIONS AND FINANCIAL CONDITION

GENERAL

The statements contained in this Quarterly Report on Form 10-Q/A that are not historical facts may contain forward-looking statements that involve a number of known and unknown risks and uncertainties that could cause actual results to differ materially from those discussed or anticipated by management. Potential risks and uncertainties include, among other factors, general business conditions, government regulations, manufacturing practices, competitive market conditions, success of the Company's business strategy, delay of orders, changes in the mix of products sold, availability of suppliers, concentration of sales in markets and to certain customers, changes in manufacturing efficiencies, development and introduction of new products, fluctuations in margins, timing of significant orders, and other risks and uncertainties currently unknown to management.

CRITICAL ACCOUNTING POLICIES

The Company's financial statements and related public financial information are based on the application of accounting principles generally accepted in the United States of America ("GAAP"). GAAP requires the use of estimates; assumptions, judgments and subjective interpretations of accounting principles that have an impact on the assets, liabilities, revenue and expense amounts reported. These estimates can also affect supplemental information contained in the external disclosures of the Company including information regarding contingencies, risk and financial condition. We believe our use of estimates and underlying accounting assumptions adhere to GAAP and are consistently and conservatively applied. We review valuations based on estimates for reasonableness and conservatism on a consistent basis throughout the Company. Primary areas where financial information of the Company is subject to the use of estimates, assumptions and the application of judgment inclu de acquisitions, valuation of long-lived and intangible assets, and the realizability of deferred tax assets. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results may differ materially from these estimates under different assumptions or conditions.

Valuation Of Long-Lived And Intangible Assets

The recoverability of long lived assets requires considerable judgment and is evaluated on an annual basis or more frequently if events or circumstances indicate that the assets may be impaired. As it relates to definite life intangible assets, we apply the impairment rules as required by SFAS No. 121, "Accounting for the Impairment of Long-Lived Assets and Assets to Be Disposed Of" as amended by SFAS No. 144, which also requires significant judgment and assumptions related to the expected future cash flows attributable to the intangible asset. The impact of modifying any of these assumptions can have a significant impact on the estimate of fair value and, thus, the recoverability of the asset.

Income Taxes

We recognize deferred tax assets and liabilities based on the differences between the financial statement carrying amounts and the tax bases of assets and liabilities. We regularly review our deferred tax assets for recoverability and establish a valuation allowance based upon historical losses, projected future taxable income and the expected timing of the reversals of existing temporary differences. As of December 31, 2005, we estimated the allowance on net deferred tax assets to be one hundred percent of the net deferred tax assets.

Valuation of Investments

As an investment company under the Investment Company Act of 1940, the Company is not permitted to employ the “equity method” of accounting for ownership in subsidiaries. As a result, we do not consolidate the operations and balance sheets of our portfolio investments regardless of the percent of ownership. In lieu thereof, we are required to carry the value of our portfolio investments at “fair market value.”

As required by ASR 118, the Board of Directors of the company is required to assign a fair value to all investments. To comply with Section 2(a)(41) of the Investment Company Act and Rule 2a-4 under the Investment Company Act, it is incumbent upon the board of directors to satisfy themselves that all appropriate factors relevant to the value of securities for which market quotations are not readily available have been considered and to determine the method of arriving at the fair value of each such security. To the extent considered necessary, the board may appoint persons to assist them in the determination of such value, and to make the actual calculations pursuant to the board's direction. The board must also, consistent with this responsibility, continuously review the appropriateness of the method used in valuing each issue of security in the company's portfolio. The directors must recognize their responsibilities in this matter and whenever technical assistance is re quested from individuals who are not directors, the directors must carefully review the findings of such individuals in order to satisfy themselves that the resulting valuations are fair.

No single standard for determining "fair value...in good faith" can be laid down, since fair value depends upon the circumstances of each individual case. As a general principle, the current "fair value" of an issue of securities being valued by the board of directors would appear to be the amount that the owner might reasonably expect to receive for them upon their current sale. Methods that are in accord with this principle may, for example, be based on a multiple of earnings, or a discount from market of a similar freely traded security, or yield to maturity with respect to debt issues, or a combination of these and other methods. Some of the general factors which the directors should consider in determining a valuation method for an individual issue of securities include: 1) the fundamental analytical data relating to the investment, 2) the nature and duration of restrictions on disposition of the securities, and 3) an evaluation of the forces which influence the market in which these securities are purchased and sold. Among the more specific factors which are to be considered are: type of security, financial statements, cost at date of purchase, size of holding, discount from market value of unrestricted securities of the same class at time of purchase, special reports prepared by analysis, information as to any transactions or offers with respect to the security, existence of merger proposals or tender offers affecting the securities, price and extent of public trading in similar securities of the issuer or comparable companies, and other relevant matters.

All portfolio investments shall be carried on the books at “fair market value.”

Where market values can be readily determined via stock quotations in a reasonably liquid market, the fair market shall be based on the quoted bid price on the day of calculation.

Fair market value shall be determined on at least a quarterly basis. Where there are material changes in portfolio operations, fair market value shall be re-examined as such material changes occur. In the event the stock trading price is within 10% of Net Book Value, and the Company wishes to sell stock, fair market value shall be calculated on a monthly basis to ensure that stock is not sold below NBV.

Where there is not a readily available source for determining the market value of any investment, either because the investment is not publicly traded, or is thinly traded, the Board of Directors shall analyze the following factors, where available, for determining fair market value:

Total amount of the Company’s actual investment. This amount shall include all loans, purchase price of securities, and fair value of securities given at the time of exchange.

Total revenues for the preceding twelve months.

Earnings before interest, taxes and depreciation.

Estimate of likely sale price of investment.

Bonafide offer to purchase

Net assets of investment.

Likelihood of investment generating positive returns (going concern).

Appraised value.

The value of the loans and lines of credit may be adjusted down if there is a reasonable expectation that the Company will not be able to recoup the investment or if there is reasonable doubt about the investment’s ability to continue as a going concern. In order to assess impairment of loan value, the portfolio investment’s budget to actual performance criteria shall be evaluated along with 12 month financial projections. Additionally, where available, the Board shall review other relevant factors affecting repayment including historical cash flows, material contracts, collateral, debt maturity, alternate financing resources, etc.

COMPANY STRATEGY

CLX Investment Company, Inc. presently has three portfolio investments: eStrategy Solutions, Inc, ActionView International, Inc. and Zonda, Inc. Management anticipates making additional portfolio investments as opportunities present themselves in the coming year.

Investment Strategy

CLX Investments Company, Inc. intends to make strategic investments in companies with perceived growth potential. The Investment Committee has adopted a charter wherein these two criteria will be weighed against other criteria including strategic fit, investment amount, management ability, etc. In principle, the Company will prefer to make investments in companies where the Company can acquire at least a 51% ownership interest in the outstanding capital of the portfolio company, or exert some other management control.

As a Business Development Company, the Company is required to have at least 70% of its assets in "eligible portfolio companies." It is stated in the Investment Committee Charter that the Company will endeavor to maintain this minimum asset ratio.

Portfolio Investments

The Company presently has three portfolio investments: eStrategy Solutions, Inc., ActionView International, Inc, and Zonda, Inc.

eStrategy Solutions, Inc.

eStrategy Solutions, Inc. is a Texas corporation specializing in the development, and marketing of e-learning software solutions. The Company owns 49% of the common stock of eStrategy Solutions, Inc., which it acquired in exchange for cash and an open line of credit. eStrategy Solutions already has training software in place but is projecting a late January completion date for its expanded content delivery platform, which is expected to significantly increase the user capacity of its training programs. The implementation of this new platform is expected to allow the company to expand its customer base and grow revenues unfettered by current system limitations.

The Texas Department of Information Resources has recently renewed its contract to engage the services of eStrategy Solutions. Under the terms of the contract, eStrategy Solutions can be retained by agencies to serve as the provider for agency defined training courses via web-based training. The contract includes development costs, notification to participants, delivery, testing, and management reporting, encompassing all state agencies, all institutions of higher learning, all independent school districts, counties and municipalities. To date, there have been several thousand deliveries covering over 20 courses. In addition to delivery, eStrategy Solutions provides completion documentation and management reports.

In the State of Texas, eStrategy Solutions has focused its business strategy on a large market niche that has a clear need for low-cost, highly effective e-learning programs. eStrategy Solutions has proven a new unique sales and pricing model that targets a defined portion of overlooked clients. By focusing on thousands of licensing regulatory agencies and certificate granting organizations, eStrategy Solutions offers enterprise level software features at low cost, and eStrategy Solutions further creates a cost-recovery method which produces funds needed to deploy a robust e-learning system. An example of this cost-recovery method is at work with the Texas Board of Chiropractic Examiners (CE). This agency chose eStrategy Solutions to host the learning system at no cost and convert the mandatory CE course into an attractive web based delivery to thousands of chiropractic professionals. The convenience of online secure payment and 24-hour access to courses are a source of savings for the user and eStrategy splits the revenue with the agency.

eStrategy Solution’s market is not just limited to Texas. The model that has been developed in Texas is applicable to all other states as well. The market potential for e-learning is in the billions of dollars and eStrategy Solutions is expected to grow and capture a significant percentage of its specific market segment.

ActionView International, Inc.

On July 15, 2005, the Company entered into a financing agreement with ActionView International, Inc. (“AVWI”) wherein the Company will provide a line of credit to AVWI in the amount of $350,000. The line of credit accrues interest at 8% per annum and is to be repaid in an amount equal to the greater of 25% of net monthly income (EBIT) or $25,000 per month commencing on the earlier of nine months from the date of the final draw down, or the month following the third consecutive month in which AVWI generates net income (EBIT) of at least $50,000. In consideration AVWI shall issue CLXN a total of 2,000,000 shares of AVWI restricted common stock, the shares will be issued in proportion with the line of credit being drawn upon.

AVWI custom-designs, develops and manufactures “smart” scrolling advertising billboards. AVWI attempts to place its signs into high traffic locations and then markets advertising space on the signs. Advertising revenues generated from the billboards will be shared with advertising agencies, the local business partner and the location owner. The benefit to advertisers is big, bold exposure at top tier locations at very reasonable costs. AVWI’s plan for proceeds is manufacturing the remaining billboards at the Guangzhous airport just outside of Hong Kong and general working capital purposes. With all 150 airport signs in place, advertising revenue is expected to be $3.9mm for the calendar year 2006.

Zonda, Inc.

On August 30, 2005, the Company entered into a financing agreement with Zonda, Inc. (“Zonda”) wherein the Company will provide a line of credit to Zonda in the amount of $500,000. The line of credit accrues interest at 8% per annum, in consideration for the line of credit Zonda shall issue an equity position of 20% to the Company.

Zonda, Inc. is a privately held company that specializes in test products that serve the medical diagnostic (IVD), food safety, and sanitation testing markets. Zonda is currently expanding the distribution of its product lines into broader markets around the world. The first product that has been targeted for accelerated marketing and distribution efforts is an innovative, rapid, self-contained diagnostic device for the detection of Chlamydia. The device, which is marketed under the HandiLab name, is superior to its competition due to its comparable accuracy, ease of use, compact design, long shelf life, rapid results and cost effectiveness.

RESULTS OF OPERATIONS

Quarter ended December 31, 2005 compared to quarter ended December 31, 2004

During the quarter ended December 31, 2005, the Company incurred a net loss of $64,165 or $0.00 per share compared to a net loss of $231,828 or $0.17 per share for the same quarter of 2004. The current loss is primarily due to an unrealized on non affiliated investment of $22,858 related to the Company’s portfolio investments and operating expenses, of $109,147, which included interest expense of $8,818 for the quarter ended December 31, 2005. The Company will be able to keep future operating costs at a minimum based on the management agreement it has in place to outsource all its administrative support.

Revenues for the three months ended December 31, 2005 were $65,441 compared with revenues of $50 for the three months ended December 31, 2004. The current revenue was generated from interest income from portfolio investments.

Liquidity and Capital Resources

The accompanying financial statements have been prepared in conformity with principles of accounting applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company has incurred operating losses in the quarter ended December 31, 2005, and some of the past years and has generated an accumulated deficit of $1,737,537. The Company requires additional capital to meet its operating requirements. Management plans to raise such additional capital through the sale of securities. . Funds will also be required for additional portfolio investments. There are no assurances that such capital raising plans will be successful. No adjustments have been made to the accompanying financial statements as a result of this uncertainty.

As a business development company, the Company can generate revenues from several sources: management fees assessed on portfolio companies, interest payments received on loans and credit lines extended, and proceeds from the sale of its portfolio investments. While Generally Accepted Accounting Practices require that investment companies such as CLX record the value of their portfolio assets at fair market value, this accounting treatment can result in “unrealized” gains or losses, which, while increasing or decreasing net income, does not have an impact on cash flow. Gains or losses are only recognized when the asset is eventually sold. The Company’s equity investments are generally long-term in nature. As a result, until the first investments are ready to be liquidated, the Company may experience operating cash shortfalls.

As of December 31, 2005, the Company had total cash and current assets of $209 and current liabilities of $382,569. The Company generated cash for operations through the sale of common stock. As of December 31, 2005, the Company has promissory notes payable of $200,000, which are due December 19, 2007 and bearing interest at the rate of $8% per annum and a stock payable in the amount of $295,488. Subsequent to December 31, 2005, the Company issued 29,548,800 shares of common stock in to an escrow account to satisfy the stock payable obligation. On September 13, 2004, the Company filed a notification with the Securities and Exchange Commission of its intent to raise capital through the issuance of securities exempt from registration under Regulation E of the Securities Act of 1933. This exemption allows the Company to sell up to $5,000,000 of securities exempt from registration. Subsequent to December 31, 2005 the company raised $128,860 in cas h from the sale of 12,610,000 shares of common stock under Regulation E. There is no assurance that the Company will be able to raise any additional funds through the sale of common stock or that any funds made available will be adequate for the Company to continue as a going concern. Further, if the Company is not able to generate positive cash flow from operations, or is unable to secure adequate funding under acceptable terms, there is substantial doubt that the company can continue as a going concern.

RISKS AND UNCERTAINTIES

An investment in the Company involves a high degree of risk. In addition to matters discussed elsewhere in this report, careful consideration should be given to the following risk factors. This report contains certain forward-looking statements that involve risks and uncertainties. Our actual results could be substantially different from the results we anticipate in these forward-looking statements because of one or more of the factors described below and/or elsewhere in this report. If any of these risks were to actually occur, our business, results of operations and financial condition would likely suffer materially. The risks outlined below are those which management believes are material to an understanding of our business and the risks inherent in it, but such list is not exclusive of every possible risk which may impact the Company and its shareholders in the future. Additional risks and uncertainties not presently known to us or that we currently deem immaterial may also appear or increase in significance, and could therefore impair our projected business results of operations and financial condition.

Risks Related to Our Business

Our future operating results are subject to a number of risks, including our ability or inability to implement our strategic plan and to raise sufficient financing as required. Inability of our management to guide growth effectively, including implementing appropriate systems, procedures and controls, could have a material adverse effect on our business, financial condition and operating results.

Our future growth depends on the addition of portfolio companies that are cash flow positive and can contribute to the overall growth of the Company. The Company has a plan to implement acquisitions and is presently evaluating several companies to see if they will fit the criteria that have been established. The future performance of the companies acquired will determine if these evaluations were correct. And although part of the process is to evaluate the history of the companies to determine stability in their respective industries there is no assurance that this stability will continue.

Change in revenue or expense projections or even changes in the industry that cannot be adjusted to will could adversely affect performance.

We require additional funds to support our business operations.

We require additional capital in order to implement our current business plan as contemplated in this report. CLX Investment Company intends to attempt to raise funds during the second fiscal quarter of 2006 through the sale of stock exempt from registration to accredited investors. If we are unable to raise the necessary capital we require, which we estimate to be a minimum of $500,000 and not more than $2,000,000, then we may not be able to operate our business in the manner described in this report. Our inability to raise the funds we require, when we require them and on terms that are reasonably acceptable to our management, would have a materially adverse effect upon our ability to maintain and grow our business.

If we do raise the funds we require to grow the business, it could result in substantial dilution to our existing shareholders.

To the extent that much of our financing will be raised through the issuance of convertible debentures, stock will be issued at a discount to the market upon conversion of the debt resulting in substantial dilution to our existing shareholders which is disproportionate to the value of the funds received by us in such transaction. There is no guarantee that additional financing will be available to us on acceptable terms when needed, or at all.

Our failure to effectively manage our growth could have a material adverse effect on our business.

We expect our business to grow rapidly. Such growth will place a significant strain on our management systems and resources. We will need to continue to improve our operational and financial systems and managerial controls and procedures, and we will need to continue to expand, train and manage our workforce.

If we are unable to retain key personnel or attract new personnel, it could have a material adverse effect on our business.

The loss of services of any of our key personnel or our inability to successfully attract and retain qualified personnel in the future would have a material adverse effect on our business. We do not maintain key person life insurance on any of our employees.

Risks Related To Our Industry

Laws and regulations may prohibit or severely restrict our ability to raise capital.

Various government agencies in the United States and throughout the world regulate capital raising practices. If we are unable to continue our business in our existing manner then we may not be able to acquire additional portfolio investments, which would hamper or even cause our business to fail. Additionally, government agencies and courts may use their powers and discretion in interpreting and applying laws in a manner that limits our ability to operate or otherwise harm our business. Also, if any governmental authority brings a regulatory enforcement action against us that interrupts our ability to raise capital, or which results in a significant fine or penalty assessed against us, our business could suffer.

CONTROLS AND PROCEDURES.

As required by Rule 13a-15 under the Securities Exchange Act of 1934 (the Exchange Act"), we carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures within the 90 days prior to the filing date of this report. This evaluation was carried out under the supervision and with the participation of the Company’s Interim Chief Executive Officer, Mr. Robert McCoy and Chief Financial Officer, Mr. Kenneth Wiedrich. Based upon that evaluation, the Company’s Interim Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures are effective in timely alerting management to material information relating to us and required to be included in our periodic SEC filings. There have been no significant changes in our internal controls or in other factors that could significantly affect internal controls subsequent to the date we carried out our evaluation.

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed under the Exchange Act is accumulated and communicated to management, including our Interim Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosures.

PART II.

Other Information

Item 1.Legal Proceedings

None

Item 2.Changes in Securities

During the three months ended December 31, 2005, the Company issued 300,000 shares of common stock in payment of $5,400 of convertible debentures. The Company also issued 250,000 shares of its common stock for cash of $4,500. These shares were issued pursuant to its offering statement under Regulation E. The Company converted the balance of its convertible debentures, $200,000, into a promissory note payable due December 19, 2007 that bears interest at 8% per annum.

During the quarter ended December 31, 2006, the Company issued a total of 13,497,567 shares of restricted common stock as payment on a 1-for-3 stock dividend for all shareholders of record as of September 30, 2005. The stock dividend was treated as a stock split for accounting purposes. As a result, the shares issued in the split are retroactively shown as issued and outstanding for all periods presented.

Item 3.Defaults Upon Senior Securities

None

Item 4.Submission of Matters to Vote of Security Holders

None

Item 5.Other Information

None

Item 6.Exhibits and Reports on Form 8-K

(a) Exhibits


	31.1	Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
	31.2	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
	32.1	Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002


	32.2	Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

(b) Reports on Form 8-K

None

SIGNATURE PAGE

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


Dated: June 8, 2006

/s/ Robert McCoy
Robert McCoy
Interim Chief Executive Officer

EXHIBIT 31.1

SECTION 302

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

I, Robert McCoy, certify that:

1. I have reviewed this quarterly report on Form 10-Q/A of CLX Investment Company, 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 registrant as of, and for, the periods presented in this report;

(4) The registrant'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)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant 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 registrant, 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 principles;

(c) Evaluated the effectiveness of the registrant'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 registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

(5) The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant'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 registrant'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 registrant's internal control over financial reporting.

Date: June 16, 2006

By:/s/ Robert McCoy

Robert McCoy, Interim Chief Executive Officer

EXHIBIT 31.2

SECTION 302

CERTIFICATION OF CHIEF FINANCIAL OFFICER

I, Kenneth Wiedrich, certify that:

1. I have reviewed this quarterly report on Form 10-Q/A of CLX Investment Company, Inc.;

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: June 16, 2006

By:/s/ Kenneth Wiedrich

Kenneth Wiedrich, Chief Financial Officer

EXHIBIT 32.1

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 CLX Investment Company, Inc. (the "Company") on Form 10-Q/A for the period ending December 31, 2005, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Robert McCoy, Interim Chief Executive 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 results of the operation of the Company.

/s/ Robert McCoy

Robert McCoy

Interim Chief Executive Officer

June 16, 2006

EXHIBIT 32.2

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 CLX Investment Company, Inc. (the "Company") on Form 10-Q/A for the period ending December 31, 2005, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), I, Kenneth Wiedrich, Chief 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 results of the operation of the Company.

/s/ Kenneth Wiedrich

Kenneth Wiedrich

Chief Financial Officer

June 16, 2006

CLX Medical (CLXN) Inactive 10-Q/A2006 Q0 Quarterly report (amended)