Addressing the astrophysical problems of the 2020's requires sub-arcsecond x-ray imaging with square meter effective area. Such requirements can be derived, for example, by considering deep x-ray surveys to find the young black holes in the early universe (large redshifts) which will grow into the first super-massive black holes. We have envisioned a mission, the Square Meter Arcsecond Resolution Telescope for X-rays (SMART-X), based on adjustable x-ray optics technology, incorporating mirrors with the required small ratio of mass to collecting area. We are pursuing technology which achieves sub-arcsecond resolution by on-orbit adjustment via thin film piezoelectric "cells" deposited directly on the non-reflecting sides of thin, slumped glass. While SMART-X will also incorporate state-of-the-art x-ray cameras, the remaining spacecraft systems have no requirements more stringent than those which are well understood and proven on the current Chandra X-ray Observatory.