probably...but you are kind of using the subreport to drive the main report, and usually it is the other way around.
It would seem that there should be a simpler method...maybe make the subreport the driver, or do an outer join to the subreport tables.
using the given scenario, I would put a shared variable in the subreport and use that a flag to display or hide the main report record...you would need to reset the flag before running the subreport, because if it is blank, it probably won't return false...you might need to run the subreport twice.
Just about anything is possible.