The years of study on Husserl s theory of intentionality have led to a number of non-equivalent interpretations. The present work attempts to investigate the most prominent of these by presenting both their advantages and difficulties. However, its key point is specifically the analysis of Husserl s theory. This is made in several stages that are concerned with the relation between noesis and noema: whether it is one-to-one or many-to-one, the kind of transcendency and dependency between them, and whether noema supervenes on noesis. Moreover, Husserl s theory is also examined in usually ignored instances of contradiction, nonsense and intentional conflict. The outcome is a fresh reading in which noema occurs as the possibly thinkable content capable of constituting multi-objective references and composed of pure X explained in terms of syntactic matter and form."