0001549983-12-000004.txt : 20120606 0001549983-12-000004.hdr.sgml : 20120606 20120606074657 ACCESSION NUMBER: 0001549983-12-000004 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20120331 FILED AS OF DATE: 20120606 DATE AS OF CHANGE: 20120606 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CREDEX CORP CENTRAL INDEX KEY: 0001432939 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE SERVICES [6199] IRS NUMBER: 161731286 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-54142 FILM NUMBER: 12890679 BUSINESS ADDRESS: STREET 1: 454 TREEMONT DRIVE CITY: ORANGE CITY STATE: FL ZIP: 32763 BUSINESS PHONE: 386-218-6823 MAIL ADDRESS: STREET 1: 454 TREEMONT DRIVE CITY: ORANGE CITY STATE: FL ZIP: 32763 10-Q/A 1 credex_03312012-10qa.htm Q1 FILING

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-Q/A

Amendment No. 1

x	QUARTERLY REPORT PURSANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

	For the quarterly period ended March 31, 2012

o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

	For the transition period from __________ to __________

Commission File Number: 000-54142

Credex Corporation

(Exact name of registrant as specified in its charter)

	Florida		16-1731286
	(State of Incorporation)		(IRS Employer ID Number)

848 Rainbow Blvd, # 2096 Las Vegas, NV 89107

(Address of principal executive offices and Zip Code)

Registrant’s telephone number, including area code (913) 660-0632

Indicate by check mark whether the registrant (1) has 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. o yes x no

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). o yes x no

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

See the definitions of "large accelerated filer," "accelerated filer," "non-accelerated filer," and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer o		Accelerated filer o
Non-accelerated filer o		Smaller reporting company x
(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). x yes o no

APPLICABLE TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS:

Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. o yes o no

APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of 4^th June 2012 is 5,899,250 shares.

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CREDEX CORPORATION

(A Development Stage Company)

Part I.	Financial Information	2

Item 1.	Financial Statements	2

Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	12

Item 3.	Quantitative and Qualitative Disclosures about Market Risk	14

Item 4.	Controls and Procedures	14

Part II.	Other Information	15

Item 1.	Legal Proceedings	15
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	15
Item 3.	Defaults Upon Senior Securities	17
Item 4.	Mine Safety	17
Item 5.	Other Information	17
Item 6.	Exhibits	17

Signature		18

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PART I — FINANCIAL INFORMATION

Item 1. Financial Statements


INDEX TO UNAUDITED FINANCIAL STATEMENTS	PAGE


Balance Sheets at March 31, 2012 and December 31, 2011	3

Unaudited Statements of Operations for the three month periods ended March 31, 2012 and 2011 and for the period from inception, September 2, 2005, through March 31, 2012	4

Unaudited Statements of Stockholders’ Equity for the period from inception, September 2, 2005, through March 31, 2012	5

Unaudited Statements of Cash Flows for the nine-month periods ended March 31, 2012 and 2011 and for the period from inception, September 2, 2005, through March 31, 2012	6

Notes to Financial Statements	7

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Credex Corporation
(A Development Stage Company)
BALANCE SHEETS
March 31, 2012 and December 31, 2011 [Unaudited]

	March 31,		December 31,
	2012		2011
ASSETS

CURRENT ASSETS:
CASH	$	0	$	39

TOTAL ASSETS	$	0	$	39


LIABILITIES AND STOCKHOLDERS' DEFICIT

CURRENT LIABILITIES:
ACCOUNTS PAYABLE	$	3850	$	450
ACCRUED INTEREST PAYABLE		0		0
NOTES PAYABLE		0		0
STOCKHOLDER LOANS PAYABLE (SEE NOTE F)		0		0
TOTAL CURRENT LIABILITIES		3850		450

STOCKHOLDERS' DEFICIT:
COMMON STOCK, $0.001 PAR VALUE;
100,000,000 AUTHORIZED SHARES, 5,899,250
SHARES ISSUED AND OUTSTANDING AT
MARCH 31, 2012, AND DECEMBER 31, 2011, RESPECTIVELY		5899		5899

ADDITIONAL PAID-IN CAPITAL		295543		295543
LESS UNEARNED CAPITAL (SEE NOTE F)		0		0

ACCUMULATED DEFICIT DURING THE DEVELOPMENT STAGE		(305292)		(301853)

TOTAL STOCKHOLDERS’ DEFICIT		(3850)		(411)


TOTAL LIABILITIES AND STOCKHOLDERS’ DEFICIT	$	0	$	39

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

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Credex Corporation
(A Development Stage Company)
STATEMENTS OF OPERATIONS (Unaudited)
For the Three Months Ended March 31, 2012 and 2011
For Periods from Inception [September 2, 2005] to March 31, 2012

	Three Months Ended March 31, 2012		Three Months Ended March 31, 2011		Cumulative from Inception (September 2, 2005) to March 31, 2012
REVENUE:
FINANCE INCOME	$	0	$	0	$	15417
CONSULTING INCOME		0		0		8000
TOTAL REVENUE		0		0		23417

EXPENSES:
TRAVEL		0		0		6882
OFFICE EXPENSES		0		590		10027
TELEPHONE		0		165		2963
PROFESSIONAL FEES (see Note F)		3439		72409		271521
ADVERTISING		0		0		350
PROTFOLIO PURCHASE		0		0		21000
SEMINAR		0		0		1585
STOCK TRANSFER AGENT FEES (see Note F)		0		0		6350
RENT		0		1994		6511
TOTAL EXPENSES		3439		75158		327189

OPERATING LOSS		(3439)		(75158)		(303772)

OTHER INCOME (EXPENSE):
INTEREST INCOME		0		0		33
INTEREST EXPENSE		0		(60)		(1553)

TOTAL OTHER INCOME (EXPENSE)		0		(60)		(1520)

NET LOSS BEFORE INCOME TAXES		(3439)		(75218)		(305292)

INCOME TAXES		0		0		0
NET LOSS	$	(3439)	$	(75218)	$	(305292)

BASIC NET LOSS PER SHARE	$	(0.001)	$	(0.013)
WEIGHTED AVERAGE NUMBER OF
SHARES OUTSTANDING (000’S)		5899		5899

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

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	Credex Corporation
	(A Development Stage Company)
	STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT)
	For Periods from Inception [September 2, 2005] to March 31, 2012 (Unaudited)

											Total
	Common Stock				Additional				Development		Stockholders’
					Paid-in		Unearned		Stage		Equity
	Shares		Amount		Capital		Capital		Deficit		(Deficit)

September 2, 2005, Date of Incorporation		0	$	0	$	0	$	0	$	0	$	0
Shares purchased for cash at $0.001 per share		10000		10		990		0		0		1000

Net loss for year ended December 31, 2005		0		0		0		0		(8397)		(8397)
Balances - December 31, 2005		10000		10		990		0		(8397)		(7397)

Net loss for year ended December 31, 2006		0		0		0		0		(8056)		(8056)
Balances - December 31, 2006		10000		10		990		0		(16453)		(15453)

Stock holders loan used to purchase shares at $0.0072 per share		2490000		2490		15441		0		0		17931

Net loss for year ended December 31, 2007		0		0		0		0		(2087)		(2087)

Balances - December 31, 2007		2500000		2500		16431		0		(18540)		391

Shares issued for cash at $0.02 per share		350000		350		6650		0		0		7000

Net loss for year ended December 31, 2008		0		0		0		0		(7001)		(7001)

Balances - December 31, 2008		2850000		2850		23081		0		(25541)		390

Shares issued for cash at $0.02 per share		715500		715		13595		0		0		14310

Net loss for year ended December 31, 2009		0		0		0		0		(15015)		(15015)

Balances - December 31, 2009		3565500		3565		36676		0		(40556)		(315)

Shares issued for cash at $0.02 per share		267500		268		5082		0		0		5350
Shares issued for cash at $0.04 per share		566250		566		22084		0		0		22650
Shares issued for future services at $0.133 per share (Note F)		1500000		1500		198500		(200000)		0		0
Unearned capital amortized		0		0		0		100000		0		100000

Net loss for year ended December 31, 2010		0		0		0		0		(129577)		(129577)

Balances - December 31, 2010		5899250		5899		262342		(100000)		(170133)		(1892)

Unearned capital amortized		0		0		0		100000		0		100000
Additional capital brought in						33201

Net loss for period ended December 31, 2011		0		0		0		0		(131720)		(131720)

Balances - December 31, 2011		5899250		5899		295543		0		(301853)		(411)

Net loss for period ended March 31, 2012		0		0		0		0		(3439)		(3439)

Balances - March 31, 2012		5899250	$	5899		295543	$	0	$	(305292)	$	(3850)

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

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Credex Corporation
(A Development Stage Company)
STATEMENTS OF CASH FLOWS (Unaudited)
For the Three Months Ended March 31, 2012 and 2011
For Periods from Inception [September 2, 2005] to March 31, 2012

					Cumulative from
	Three Months				Inception (September 2, 2005) to
	Ended March 31				March 31
	2012		2011		2012

CASH FLOWS FROM OPERATING ACTIVITIES
Net loss for the period	$	(3439)	$	(75219)	$	(305292)
Add non-cash expenses to Net Loss:
Professional fees from consulting agreement (see Note F)		0		0		0
CHANGES TO ASSETS AND LIABILITIES
Increase (decrease) in accounts payable		3400		13019		3850
Increase (decrease) in accrued interest payable		0		60		0

NET CASH USED BY OPERATING ACTIVITIES		(39)		(62140)		(301442)

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from note payable issued		0		0		0
Proceeds from stockholder loan		0		0		0
Repayment of stockholder loan		0		0		0
Sale of common stock		0		0		5899
Additional Paid in Capital		0		60000		295543

NET CASH PROVIDED BY FINANCING ACTIVITIES		0		60000		301442

NET INCREASE (DECREASE) IN CASH		(39)		(2140)		(0)

Cash and Cash Equivalents - Beginning		39		2194		0

Cash and Cash Equivalents - Ending	$	0	$	54	$	0


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

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CREDEX CORPORATION

(A Development Stage Company)

NOTES TO THE FINANCIAL STATEMENTS

March 31, 2012 and December 31, 2011

NOTE A — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1.

Organization and Purpose

Credex Corporation, (the “Company”) was incorporated in the State of Florida on September 2, 2005. The Company is presently engaged in market research regarding the cost and availability of non-performing credit card portfolios including current market prices for the sales of portfolios deemed non-collectable at the time of sale. The Company is exploring avenues for raising capital in order to put its business plan into effect. The Company has a December 31 year-end. The Company’s principal office is in Las Vegas, NV .

2.

Basis of Presentation

The accompanying financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X, and, therefore, do include all information and footnotes necessary for a complete presentation of financial position, results of operations, cash flows, and stockholders’ equity in conformity with accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature.

These financial statements should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Form 10-K filed on April 24, 2012. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements, which would substantially duplicate the disclosure contained in the audited financial statements for fiscal year 2011 as reported in Form 10-K, have been omitted.

3.

Accounting Basis

The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company has adopted a December 31 fiscal year end.

4.

Development Stage

The Company is currently a development stage entity as defined under accounting standards, as it continues development activities related to non-performing credit card portfolios. As required for development stage enterprises, the statements of operations, cash flows and changes in stockholders’ equity (deficit) are presented on a cumulative basis from inception.

5.

Revenue Recognition

The Company recognizes revenue from purchased non-performing receivables in accordance with accounting standards on the accounting for certain loans or debt securities acquired in a transfer. The Company will use the cost recovery method and recognize income only after it has recovered its carrying value of purchased non-performing receivables. There can be no assurance as to when or if the carrying value will be recovered. Recognition of income using the interest method would be dependent on the Company having the ability to develop reasonable expectations of both the timing and amount of cash flows to be collected. Due to uncertainties related to the expected timing of the collections of older non-performing receivables purchased as a result of the economic environment and the lack of validation of certain account components, the Company determined that it will not have the ability to develop reasonable expectations of timing of cash flows to be collected.

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6.

Cash and Equivalents

For purposes of the statement of cash flows, the Company considers all highly liquid investments with original maturities of less than three months to be cash equivalents.

7.

Financial Instruments

Financial instruments consist of bank deposits. The carrying amount of financial instruments approximates fair value due to short-term maturities and market interest rates.

8.

Advertising

The Company expenses advertising and promotions costs as they are incurred.

9.

Concentrations of Credit Risk

The Company maintains its cash in a bank deposit account insured by the Federal Deposit Insurance Corporation (FDIC). As of March 31, 2012 and December 31, 2011, the Company had no balances in excess of federally insured limits.

10.

Earnings per Share

Basic earnings per share is computed by dividing net income available to common stockholders by the weighted average number of common stock shares outstanding during the year. Diluted EPS is computed by dividing net income available to common stockholders by the weighted average number of common stock shares outstanding during the year plus potential dilutive instruments such as stock options and warrants. The Company has no dilutive instruments outstanding.

11.

Income Taxes

The Company follows Section 740-10-30 of the FASB Accounting Standards Codification, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns.

Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Statements of Operations in the period that includes the enactment date.

The Company adopted section 740-10-25 of the Codification (“Section 740-10-25”) which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. The Company had no material adjustments to its liabilities for unrecognized income tax benefits according to the provisions of Section 740-10-25.

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12.

Stock-Based Compensation

Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.

13.

Dividends

The Company has not adopted any policy regarding payment of dividends. No dividends have been paid during any of the periods shown.

14.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

14.

Comprehensive Income

The Company has which established standards for reporting and display of comprehensive income, its components and accumulated balances. When applicable, the Company would disclose this information on its Statement of Stockholders’ Equity. Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. The Company has not had any significant transactions that are required to be reported in other comprehensive income.

15.

Recently Issued Accounting Standards

In September 2011, the FASB issued an amendment to Topic 350, Intangibles—Goodwill and Other, which simplifies how entities test goodwill for impairment. Previous guidance under Topic 350 required an entity to test goodwill for impairment using a two-step process on at least an annual basis. First, the fair value of a reporting unit was calculated and compared to its carrying amount, including goodwill. Second, if the fair value of a reporting unit was less than its carrying amount, the amount of impairment loss, if any, was required to be measured. Under the amendments in this update, an entity has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads the entity to determine that it is more likely than not that its fair value is less than its carrying amount. If after assessing the totality of events or circumstances, an entity determines that it is not more likely than not that the fair value of the reporting unit is less than its carrying amount, then the two-step impairment test is unnecessary. If the entity concludes otherwise, then it is required to test goodwill for impairment under the two-step process as described under paragraphs 350-20-35-4 and 350-20-35-9 under Topic 350. The amendments are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011 and early adoption is permitted. Credex does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow.

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NOTE B — GOING CONCERN

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Company’s financial position and operating results raise substantial doubt about its ability to continue as a going concern. The Company is in the development stage and has sustained losses of $305,292 since inception. The ability of the Company to continue as a going concern is dependent upon expanding operations and obtaining additional capital and financing. Management’s plan in this regard is to implement the Company’s business plan and to secure additional funds through equity or debt financing. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

NOTE C – NOTES PAYABLE

During the year ended December 31, 2011, three shareholder of the Company loaned a total of $5,300 to help fund operations. These loans were unsecured, due on demand and bore 12% interest. The notes were repaid during the year ended December 31, 2011. Total interest expense related to these loans was $1,236 for the year ended December 31, 2011. (Refer to Note F — Related Party Transactions)

On March 21, 2011, the Company received a loan of $5,000 to help fund operations. The loan was unsecured, due on demand and bore 12% interest. The loan was repaid during the year ended December 31, 2011. Total interest expense related to this loan was $317 for the year ended December 31, 2011.

NOTE D — STOCKHOLDERS’ EQUITY (DEFICIT)

At inception on September 2, 2005, the Company was authorized to have outstanding 10,000 shares of common stock at $0.10 par value per share. On October 24, 2007, the Company amended its Articles of Incorporation to increase the maximum number of authorized common shares to 100,000,000 and changed the par value to $0.001 per share, which has been retro-actively restated to $0.001 in the accompanying financial statements.

The Company has forty stockholders of record as of December 31, 2011. As of December 31, 2011, the outstanding shares were 5,899,250. Share transactions during the year ended December 31, 2010, resulted in an increase in shares outstanding of 2,333,750 shares as follows:

Shares issued for cash at $0.02 per share	267,500
Shares issued for cash at $0.04 per share	566,250
Shares issued for future services at $0.113 per share	1,500,000
	2,333,750

Additionally, ownership of 694,445 shares was transferred from a past officer/director to Cypress. This former officer/director is a member of Cypress. Another past officer/director who is deceased passed to his heirs 1,705,555 shares of which his heirs transferred 764,180 shares to Cypress. A total of 2,958,625 shares have been transferred to Cypress under a consulting management agreement with the Company. Upon completion of its services, Cypress is to be paid $200,000 by the Company at which time Cypress will return these shares. On November 9, 2011 Cypress forgive the liability of $200,000 as agreed between the directors and Cypress to make way for new management takeover. (Refer to Note F — Related Party Transactions)

NOTE E — INCOME TAXES

Deferred income taxes result from temporary differences between the basis of assets and liabilities recognized for differences between the financial statements and tax basis thereon, and for the expected future tax benefits to be derived from net operations losses and tax credit carry-forwards. The Company has net operating losses and has recorded a valuation allowance equal to the tax benefit of the accumulated net operating losses, since it is uncertain that future taxable income will be realized during the applicable carry-forward periods. These benefits expire between 2025 and 2031.

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The Company’s deferred tax assets as of March 31, 2012 and December 31, 2011 were as follows:

	2012	2011
Deferred tax asset	$ 139,940	$ 138,770
Valuation allowance	(139,940)	(138,770)
Net Deferred Tax Asset	$ 0	$ 0

NOTE F — RELATED PARTY TRANSACTIONS

A shareholder of the Company, Globex Transfer, LLC, a stock transfer agent, was engaged in November 2010 to provide stock transfer services. As of December 31, 2011, $750 expenses were incurred with an outstanding balance payable of $450.

On July 9, 2010, the Company entered into an agreement for services with Cypress, a related party, whereby Cypress acts as consultant to:

1. Raise the necessary money for the Company to operate in the short term

2. Prepare and file documents with the SEC to take the Company public

3. Secure a transfer agent and market maker broker-dealer for the Company’s stock

4. Secure the necessary audits for the required filing documents

5. Provide day-to-day operational management of the Company

In exchange for these services, which the Company anticipates will last for a ten month period, the Company agreed to pay Cypress cash fees of $200,000 as well as provide Cypress with 2,958,625 shares of its stock, which effectively transfers control of the Company to Cypress during this period. Because the consulting services began August 1, 2010, amortization into Professional Fee was $100,000 in 2011 and $100,000 in 2010 resulting in net unearned capital of $100,000 as of December 31, 2010 and $ 0 as of December 31, 2011. Upon receipt of the cash payment of $200,000, Cypress is to return the shares to the Company’s treasury. On November 9, 2011 Cypress forgiven the liability of $200,000 as agreed between the directors and Cypress to make way for new management takeover. [Refer to Note B — Stockholders’ Equity (Deficit)] Also, as part of the contract with Cypress, the Company is responsible for normal operating costs, which Cypress was providing. From 1^st January 2012 Cypress is no way responsible or involved in normal operating costs of the company.

During the year ended December 31, 2011, three shareholders of the Company loaned a total of $5,300 for additional funding to assist the Company fund operations. These loans were unsecured, due on demand and bore 12% interest. The notes were repaid during the year ended December 31, 2011. Total interest expense related to these loans was $1,236 for the year ended December 31, 2011. (Refer to Note D — Stockholders’ Loans)

NOTE G — FILING WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION (UNAUDITED)

There are no pending comments on the Company’s SEC filings. The Company filed an S-1 (with amendments) Registration Statement pursuant to the 1933 Act. This registration became effective April 13, 2011. The S-1 registered the 2,940,625 shares in the hands of current shareholders (except for Cypress Bend’s shares – refer to Note F – Related Party) for trading.

NOTE H — SUBSEQUENT EVENTS

In accordance with ASC 855-10, the Company has analyzed its operations subsequent to March 31, 2012 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

BACKGROUND

The following discussion of our financial condition and results of operations should be read in conjunction with our financial statements and the related notes, and other financial information contained in this prospectus. The Company is filing this amended 10-Q as the original Form 10-Q had not been reviewed by our independent auditors prior to our filing it with the SEC. This 10-Q/A contains some revisions – primarily disclosure issues, corrections of typographical errors, and a correction to amounts in Note E – Income Taxes.

Overview

We are a development stage company. Although Credex has not operated pursuant to its business plan, in 2005 Credex purchased a portfolio of defaulted credit card debt to test the feasibility of its business plan. On a trial basis accounts from the portfolio were collected. The remainder of the portfolio was then sold. These transactions are shown in the statement of operations in Item 1 of this quarterly report. Our auditors have raised substantial doubt as to our ability to continue as a going concern. We need a minimum of approximately $100,000 during the next 12 months to implement our business plan.

Since our inception, we have devoted our activities to the following:

Purchasing a debt portfolio;
Obtaining bids from professional collectors to collect the portfolio;
Developing contacts from whom to purchase portfolios;
Contracting for operational support; and
Securing enough capital to carry out these activities.

Plan of Operations

As discussed above we have not operated pursuant to our business plan since inception and have generated no revenue in the three month ended March 31, 2012 and 2011.

Development stage operating expenditures during the period from inception on September 2, 2005 to March 31, 2012 were $327,189 which consisted primarily of general and administrative expenses related to legal, accounting and other fees related to our formation and this offering. Our net loss was $3,439 and $75,218 for the three months ended March 31, 2012 and 2011, respectively, and $305,292 net loss from inception through March 31, 2012. The cumulative income to date was $23,450 including finance income of $15,417, consulting income of $8,000 and interest income of $33.

Liquidity and Capital Resources

Our capital resources have been acquired through the sale of shares of our common stock.

At March 31, 2012 and December 31, 2011, we had total assets of $0 and $39, respectively, consisting of cash.

At March 31, 2012 and December 31, 2011, our total liabilities were $3,850 and $450, respectively, consisting of amounts payable

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We anticipate taking the following actions during the next 12 months, assuming we receive the required funding:

Find and Lease a location for company offices
Purchase office equipment
Hire employees and begin training
Begin Operations
Start Marketing Phase Develop Sales Materials and Presentations.

Cash Requirements

We intend to provide funding for our activities, if any, through a combination of the private placement of the Company’s equity securities and the public sales of equity securities.

We have no agreement, commitment or understanding to secure any funding from any other source.

Off-Balance Sheet Arrangements

We do not have any off balance sheet arrangements.

Credex has never been in bankruptcy or receivership. The Company is a new venture.

Credex's executive office is located at 848 Rainbow Blvd, # 2096 Las Vegas, NV 89107. The telephone number is (386) 218-6823, and the fax number is (913) 660-0632.

Credex is not operating its business until such time as capital is raised for operations. To date its operation has involved only selling stock to meet expenses.

To date its operation has involved only selling stock to meet expenses.

Disclosure of Contracted Obligations

On July 9, 2010, the Company entered into a agreement for services with Cypress Bend Executive Services, LLC (“Cypress”), a related party, whereby Cypress acts as consultant to:

Raise the necessary money for the Company to operate in the short term,
Prepare and file documents with the SEC to take the Company public,
Secure a transfer agent and market maker broker-dealer for the Company’s stock,
Secure the necessary audits for the required filing documents, and
Provide day-to-day operational management services to the Company.

In exchange for these services, which the Company anticipated would last for a ten month period and included assisting the Company and its shareholders to move forward as determined for the Company’s best interest, the Company agreed to pay Cypress cash fees of $200,000 as well as provide Cypress with 2,958,625 shares of its stock, which effectively transfers control of the Company to Cypress during this period. Also, as part of the contract Steven G. Salmond, a member of Cypress Bend was installed as Secretary, Treasurer, CFO and Director of Credex. Because the consulting services began August 1, 2010, amortization into Professional Fees was $100,000 in 2011 and $100,000 in 2010 resulting in net unearned capital of $0 and $100,000 as of September 30, 2011 and December 31, 2010, respectively. Upon receipt of the cash payment of $200,000, Cypress is to return the shares to the Company’s treasury.

On November 9, 2011 Cypress forgiven the liability of $200,000 as agreed between the directors and Cypress to make way for new management takeover.

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Proposed Business

The Company intends to purchase portfolios with all rights, title and interest of non-performing accounts receivable (credit card debt) at deeply discounted rates, (approximately 3% or less of face values), outsource the collection process, develop a portfolio of restructured debt and sell the residual portfolio.

Non-performing portfolios accumulate in the normal course of operations, when a credit grantor from time to time charges-off from its books, accounts which are delinquent. Because the outstanding balance remains the obligation of the defaulting customer, a group of charged-off accounts (a portfolio) contains a value which can be obtained through various collection techniques. This value or yield is dependent upon several variables such as creditor standards, geographical stratification of the portfolio, age of the charge-offs, stages of internal and external collection efforts, elapsed time since collection was last worked, elapsed time since last activity, past recovery obtained from collection efforts and whether the debt is within the statute of limitations. These portfolios may be acquired at significant discounts of their face value, ranging from $0.01 to $0.07 on the dollar, with an expected return of 10% to 12% of the face value of the portfolios. The Company intends to purchase portfolios of Primary, Secondary and Tertiary distressed credit card debt from distressed debt wholesalers and re-sellers because they offer smaller portfolios for sale and re-purchase. These portfolios usually sell for $0.01 to $0.03 per dollar of face value. The prices stated are for 2009. On average, approximately $800,000 of face value defaulted credit card debt can be purchased with $12,000.

Item 3. Quantitative and Qualitative Disclosures about Market Risk.

Because the company is in the development stage and has no operations with related markets, no market risks exist to be reported in this filing.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

The Company is in the process of implementing disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934 (the ‘‘Exchange Act’’), that are designed to ensure that information required to be disclosed in the Company’s Exchange Act reports are recorded, processed, summarized, and reported within the time periods specified in rules and forms of the Securities and Exchange Commission, and that such information is accumulated and communicated to our Chief Executive and Financial Officers to allow timely decisions regarding required disclosure.

As of March 31, 2012, the Chief Executive and Financial Officers carried out an assessment of the effectiveness of the design and operation of our disclosure controls and procedures and concluded that the Company’s disclosure controls and procedures were not effective as of March 31, 2012, because of material weaknesses described below.

A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Company’s annual or interim financial statements will not be prevented or detected on a timely basis.

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The material weaknesses identified during management's assessment was (1) lack of a functioning audit committee due to a lack of a majority of independent members and a lack of outside directors on our board of directors, resulting in ineffective oversight in the establishment and monitoring of required internal controls and procedures; (2) inadequate segregation of duties consistent with control objectives; and (3) ineffective controls over period end financial disclosure and reporting processes.

These control deficiencies did not result in adjustments to the Company’s interim financial statements. However, these control deficiencies could result in a material misstatement of significant accounts or disclosures that would result in a material misstatement to the Company’s interim or annual financial statements that would not be prevented or detected. Accordingly, management has determined that these control deficiencies constitute material weaknesses.

The Chief Executive and Financial Officers performed additional accounting and financial analyses and other post-closing procedures including detailed validation work with regard to balance sheet account balances, additional analysis on income statement amounts and managerial review of all significant account balances and disclosures in the Quarterly Report on Form 10-Q, to ensure that the Company’s Quarterly Report and the financial statements forming part thereof are in accordance with accounting principles generally accepted in the United States of America. Accordingly, management believes that the financial statements included in this Quarterly Report fairly present, in all material respects, the Company’s financial condition, results of operations, and cash flows for the periods presented.

Changes in Internal Control over Financial Reporting

During the three months ended March 31, 2012 there were no changes in our system of internal controls over financial reporting.

PART II. OTHER INFORMATION

Item 1. Legal Proceedings.

Credex is not involved in any litigation or any material legal proceeding. No Officer or Director is involved in any litigation or any material legal proceeding.

Item 1A. Risk Factors

None

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

The authorized equity of Credex Corporation consists of 100 million Shares, $.001 par value per share, of which 5,899,250 Shares are issued and outstanding to officers and directors for cash and services rendered from inception (September 2, 2005) through March 31, 2012.

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Credex Corporation Sale of Investment

Title of		Shares		Share	Amount
Stock	Date	Issued		Price	Paid		Subscribed	Services
Common	09/09/2005	10,000		$0.100	$1,000
Common	10/24/2007	2,240,000		$0.010	$16,131
Common	10/24/2007	250,000		$0.010	$1,800
Common	04/04/2008	50,000	*	$0.020	$1,000
Common	07/07/2008	25,000	*	$0.020	$500
Common	07/28/2008	25,000	*	$0.020	$500
Common	08/16/2008	15,000	*	$0.020	$300
Common	09/06/2008	50,000	*	$0.020	$1,000
Common	09/21/2008	10,000	*	$0.020	$200
Common	10/01/2008	10,000	*	$0.020	$200
Common	10/17/2008	15,000	*	$0.020	$300
Common	12/31/2008	150,000	*	$0.020	$3,000
Common	06/22/2009	10,000		$0.020	$200
Common	06/22/2009	10,000		$0.020	$200
Common	06/29/2009	50,000		$0.020	$1,000
Common	06/29/2009	50,000		$0.020	$1,000
Common	06/29/2009	100,000		$0.020	$2,000
Common	06/29/2009	50,000		$0.020	$1,000
Common	06/29/2009	50,000		$0.020	$1,000
Common	06/29/2009	100,000		$0.020	$2,000
Common	07/22/2009	10,000		$0.020	$200
Common	08/04/2009	100,000		$0.020	$2,000
Common	09/19/2009	10,000		$0.020	$200
Common	10/07/2009	10,000		$0.020	$200
Common	10/07/2009	50,000		$0.020	$1,000
Common	10/07/2009	50,000		$0.020	$1,000
Common	11/19/2009	45,500		$0.020	$910
Common	12/15/2009	20,000		$0.020	$400
Common	02/22/2010	30,000		$0.020	$600
Common	03/16/2010	12,500		$0.020	$250
Common	04/14/2010	100,000		$0.020	$2,000
Common	04/30/2010	125,000		$0.020	$2,500
Common	07/12/2010	1,500,000		$0.113	$0		$0	$200,000	**
Common	08/30/2010	12,500		$0.040	$500
Common	08/30/2010	25,000		$0.040	$1,000
Common	08/23/2010	125,000		$0.040	$5,000
Common	09/03/2010	25,000		$0.040	$1,000
Common	09/03/2010	62,500		$0.040	$2,500
Common	09/03/2010	25,000		$0.040	$1,000
Common	09/03/2010	25,000		$0.040	$1,000
Common	09/03/2010	25,000		$0.040	$1,000
Common	10/05/2010	56,250		$0.040	$2,250
Common	10/05/2010	10,000		$0.040	$400
Common	11/04/2010	150,000		$0.040	$6,000
Common	11/05/2010	25,000		$0.040	$1,000

		5,899,250			$68,241	$	0	$200,000	*

*	Shares sold under Reg D. The remaining shares were sold under the Private Placement Memorandum
**	stock issued as part of a service agreement for future services with Cypress Bend Executive Services, LLC. Refer to “Part I – Item 2: Disclosure of Contracted Obligations.”

Such shares were issued pursuant to the exemption from registration contained in Section 4(2) of the Securities Act or under regulation D rule 504. All of the purchasers were officers, directors or persons personally known to the officers or directors.

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Item 3. Defaults Upon Senior Securities.

None

Item 4. Mine Safety

None

Item 5. Other Information.

None

Item 6. Exhibits

Exhibit 3.(i)	-	Amended and Restated Articles of Incorporation
Exhibit 3.(ii)	-	Bylaws of Credex Corporation
Exhibit 31.1	-	Certification of Chief Executive Officer of Credex Corporation required by Rule 13a-14(1) or Rule 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Exhibit 31.2	-	Certification of Chief Financial Officer of Credex Corporation required by Rule 13a-14(1) or Rule 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
Exhibit 32.1	-	Certification of Chief Executive Officer of Credex Corporation pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and Section 1350 of 18 U.S.C. 63.
Exhibit 32.2	-	Certification of Chief Executive Officer of Credex Corporation pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and Section 1350 of 18 U.S.C. 63.

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Signatures

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Credex Corporation

By:

/s/ Arunkumar Rajapandy

Date:

June 4, 2012

Arunkumar Rajapandy,

Chief Executive Officer

Chief Financial Officer

Director

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EX-3 2 exhibit_3-i.htm ARTICLES OF INCORPORATION

Exhibit -3.(i)

RESTATED

ARTICLES OF INCORPORATION

CREDEX CORPORATION

The undersigned subscriber to these Restated Articles of Incorporation, a natural person competent to contract, hereby forms a corporation under the laws of the State of Florida.

ARTICLE I. NAME

The name of the corporation shall be CREDEX CORPORATION.

ARTICLE II. NATURE OF BUSINESS

This corporation may engage or transact in any or all lawful activities or business permitted under the laws of the United States, the State of Florida or any other state, country, territory, or nation.

ARTICLE III. CAPITAL STOCK and CORPORATE ADDRESS

The maximum number of shares of stock that this corporation is authorized to have outstanding at any one time is 100,000,000 shares of common stock having a par value of $.001 per share.

The street address of the registered office of the corporation shall be 454 Treemont Drive, Orange City, FL 32763. The name of the initial registered agent of the corporation at that address is RICHARD R. COOK. The mailing address of the Corporation shall be 454 Treemont Drive, Orange City, FL 32763.

ARTICLE IV. TERM OF EXISTENCE

This corporation is to exist perpetually.

ARTICLE V. DIRECTORS

This corporation shall have four directors initially, whose names and addresses are:

Denise Leonardo, 9266 Keating Drive, Palm Beach Gardens, FL 32014

Julie Ann Goodwin, 232 Trickey Pond Road, Naples, ME 04055

Steven G. Salmond, 3290 Van Buren Ave., Apt, 30, Ogden, UT 84403

Janine Weller, 415 Macopin Road, West Milford, NJ 07480

ARTICLE VI. OFFICERS

The officers of the corporation shall be elected by the Directors. Until new officers are elected the following will serve as officers of the corporation:

Denise Leonardo	President
Steven G. Salmond	Secretary & Treasurer

ARTICLE VII. INCORPORATOR

The name and street address of the Incorporator to these Articles of Incorporation is:

James H. Bashaw, 505 E. New York, Suite 8, DeLand, FL 32724

IN WITNESS WHEREOF, the undersigned has hereunto set his hand and seal on this __28th_ day of September, 2010.

(SEAL)

/s/ Steven G. Salmond

State of Florida )

County of Volusia )

Steven G. Salmond

The foregoing instrument was acknowledged before me this 28th day of September, 2010, by Steven G. Salmond, who is personally known to me and who did take an oath.

Notary	/s/ Melissa A. Bruno
Title	Notary Signature
DD619181	Melissa A. Bruno
Serial Number	Notary Name Printed
	Commission expires:

12/22/10

ACCEPTANCE BY REGISTERED AGENT

CREDEX CORPORAITON

Having been named Resident Agent and to accept Service of Process for the above named corporation at the place designated in these Articles of Incorporation, I hereby accept the appointment as Registered Agent and agree to act in this capacity, I further agree to comply with the provisions of all statutes relating to the proper and complete performance of my duties, and I am familiar with and accept the obligations of my position as Registered Agent.

	Resident Agent


	/s/ Richard R. Cook
	RICHARD R. COOK

EX-3 3 exhibit_3-ii.htm CORPORATE BYLAWS

Exhibit-3.(ii)

CORPORATE BYLAWS

CREDEX CORPORATION

ARTICLE I. MEETING OF SHAREHOLDERS

Section 1. Annual Meeting. The annual shareholder meeting of CREDEX Corporation will be held on the 30th day of October, of each year or at such other time and place as designated by the Board of Directors of CREDEX Corporation provided that if said day falls on a Sunday or legal holiday, then the meeting will be held on the first business day thereafter. Business transacted at said meeting will include the election of directors of CREDEX Corporation.

Section 2. Special Meetings. Special meetings of the shareholders will be held when directed by the President, Board of Directors, or the holders of not less than 10 percent of all the shares entitled to be cast on any issue proposed to be considered at the proposed special meeting; provided that said persons sign, date and deliver to CREDEX Corporation one or more written demands for the meeting describing the purposes(s) for which it is to be held. A meeting requested by shareholders of CREDEX Corporation will be called for a date not less than 10 nor more than 60 days after the request is made, unless the shareholders requesting the meeting designate a later date. The call for the meeting will be issued by the Secretary, unless the President, Board of Directors or shareholders requesting the meeting designate another person to do so.

Section 3. Place. Meetings of shareholders will be held at the principal place of business of CREDEX Corporation or at such other place as is designated by the Board of Directors.

Section 4. Record Date and List of Shareholders. The Board of Directors of CREDEX Corporation shall fix the record date; however, in no event may a record date fixed by the Board of Directors be a date prior to the date on which the resolution fixing the record date is adopted.

After fixing a record date for a meeting, the Secretary shall prepare an alphabetical list of the names of all CREDEX Corporation's shareholders who are entitled to notice of a shareholders' meeting, arranged by voting group with the address of and the number and class and series, if any, of shares held by each. Said list shall be available for inspection in accordance with Florida Law.

Section 5. Notice. Written notice stating the place, day and hour of the meeting, and the purpose(s) for which said special meeting is called, will be delivered not less than 10 nor more than 60 days before the meeting, either personally or by first class mail, by or at the direction of the President, the Secretary or the officer or persons calling the meeting to each shareholder of record entitled to vote at such meeting. If mailed, such notice will be deemed to be effective when deposited in the United States mail and addressed to the shareholder at the shareholder's address as it appears on the stock transfer books of CREDEX Corporation, with postage thereon prepaid.

CREDEX Corporation shall notify each shareholder, entitled to a vote at the meeting, of the date, time and place of each annual and special shareholder's meeting no fewer than 10 or more than 60 days before the meeting date. Notice of a special meeting shall describe the purpose(s) for which the meeting is called. A shareholder may waive any notice required hereunder either before or after the date and time stated in the notice; however, the waiver must be in writing, signed by the shareholder entitled to the notice and be delivered to CREDEX Corporation for inclusion in the minutes or filing in the corporate records.

Section 6. Notice of Adjourned Meeting. When a meeting is adjourned to another time or place, it will not be necessary to give any notice of the adjourned meeting provided that the time and place to which the meeting is adjourned are announced at the meeting at which the adjournment is taken. At such an adjourned meeting, any business may be transacted that might have been transacted on the original date of the meeting. If, however, a new record date for the adjourned meeting is made or is required, then, a notice of the adjourned meeting will be given on the new record date as provided in this Article to each shareholder of record entitled to notice of such meeting.

Section 7. Shareholder Quorum and Voting. A majority of the shares entitled to vote, represented in person or by proxy, will constitute a quorum at a meeting of shareholders.

If a quorum, as herein defined, is present, the affirmative vote of a majority of the shares represented at the meeting and entitled to vote on the subject matter thereof will be the act of the shareholders unless otherwise provided by law.

Section 8. Voting of Shares. Each outstanding share will be entitled to one vote on each matter submitted to a vote at a meeting of shareholders.

Section 9. Proxies. A shareholder may vote either in person or by proxy provided that any and all proxies are executed in writing by the shareholder or his duly authorized attorney-in-fact. No proxy will be valid after the duration of 11 months from the date thereof unless otherwise provided in the proxy.

Section 10. Action by Shareholders Without a Meeting. Any action required or permitted by law, these bylaws, or the Articles of Incorporation of CREDEX Corporation to be taken at any annual or special meeting of shareholders may be taken without a meeting, without prior notice and without a vote, provided that the action is taken by the holders of outstanding stock of each voting group entitled to vote thereon having not less than the minimum number of votes with respect to each voting group that would be necessary to authorize or take such action at a meeting at which all voting groups and shares entitled to vote thereon were present and voted, as provided by law. The foregoing actions(s) shall be evidenced by written consents describing the action taken, dated and signed by approving shareholders having the requisite number of votes of each voting group entitled to vote thereon and delivered to CREDEX Corporation in accordance with Florida Law. Within 10 days after obtaining such authorization by written consent, notice shall be given to those shareholders who have not consented in writing or who are not entitled to vote. Said notice shall fairly summarize the material features of the authorized action and if the action requires the providing of dissenters' rights, said notice will comply with the disclosure requirements pertaining to dissenters' rights of Florida Law.

ARTICLE II. DIRECTORS

Section 1. Function. All corporate powers, business, and affairs will be exercised, managed and directed under the authority of the Board of Directors.

Section 2. Qualification. Directors must be natural persons of 18 years of age or older but need not be residents of this state and need not be shareholders of CREDEX Corporation.

Section 3. Compensation. The Board of Directors will have authority to fix the compensation for directors of CREDEX Corporation.

Section 4. Presumption of Assent. A director of CREDEX Corporation who is present at a meeting of the Board of Directors at which action on any corporate matter is taken will be presumed to have assented to the action taken unless such director votes against such action or abstains from voting in respect thereto because of an asserted conflict of interest.

Section 5. Number. CREDEX Corporation will have up to 7 director(s).

Section 6. Election and Term. Each person named in the Articles of Incorporation as a member of the initial Board of Directors will hold office until said directors will have been qualified and elected at the first annual meeting of shareholders, or until said directors earlier resignation, removal from office or death.

At the first annual meeting of shareholders and at each annual meeting thereafter, the shareholders will elect directors to hold office until the next annual meeting. Each director will hold office for a term for which said director is elected until said director's successor will have been qualified and elected, said director's prior resignation, said director's removal from office or said director's death.

Section 7. Vacancies. Any vacancy occurring in the Board of Directors will be filled by the affirmative vote of a majority of the shareholders or of the remaining directors even though less than a quorum of the Board of Directors. A director elected to fill a vacancy will hold office only until the next election of directors by the shareholders.

Section 8. Removal and Resignation of Directors. At a meeting of shareholders called expressly for that purpose, any director or the entire Board of Directors may be removed, with or without cause, by a vote of the holders of a majority of the shares then entitled to vote at an election of directors.

A director may resign at any time by delivering written notice to the Board of Directors or its chairman or to CREDEX Corporation by and through one of its officers. Such a resignation is effective when the notice is delivered unless a later effective date is specified in said notice.

Section 9. Quorum and Voting. A majority of the number of directors fixed by these Bylaws shall constitute a quorum for the transaction of business. The act of a majority of the directors present at a meeting at which a quorum is present will be the act of the Board of Directors.

Section 10. Executive and Other Committees. A resolution, adopted by a majority of the full Board of Directors, may designate from among its members an executive committee and/or other committee(s) which will have and may exercise all the authority of the Board of Directors to the extent provided in such resolution, except as is provided by law. Each committee must have two or more members who serve at the pleasure of the Board of Directors. The board may, by resolution adopted by a majority of the full Board of Directors, designate one or more directors as alternate members of any such committee who may act in the place and instead of any absent member or members at any meeting of such committee.

Section 11. Place of Meeting. Special or regular meetings of the Board of Directors will be held within or without the State of Florida.

Section 12. Notice, Time and Call of Meetings. Regular meetings of the Board of Directors will be held without notice on such dates as are designated by the Board of Directors. Written notice of the time and place of special meetings of the Board of Directors will be given to each director by either personal delivery, telegram or cablegram at least two (2) days before the meeting or by notice mailed to the director at least five (5) days before the meeting.

Notice of a meeting of the Board of Directors need not be given to any director who signs a waiver of notice either before or after the meeting. Attendance of a director at a meeting will constitute a waiver of notice of such meeting and waiver of any and all objections to the place of the meeting, the time of the meeting, or the manner in which it has been called or convened, except when a director states, at the beginning of the meeting, any objection to the transaction of business because the meeting is not lawfully called or convened.

Neither the business to be transacted nor the purpose of, regular or special meetings of the Board of Directors need be specified in the notice or waiver of notice of such meeting.

A majority of the directors present, whether or not a quorum exists, may adjourn any meeting of the Board of Directors to another time and place. Notice of any such adjourned meeting will be given to the directors who were not present at the time of the adjournment.

Meetings of the Board of Directors may be called by the Chairman of the Board, the President of CREDEX Corporation or any two directors.

Members of the Board of Directors may participate in a meeting of such board by means of a conference telephone or similar communications equipment by means of which all persons participating in the meeting can hear each other at the same time. Participation by such means shall constitute presence in person at a meeting.

Section 13. Action Without a Meeting. Any action required to be taken at a meeting of the Board of Directors, or any action which may be taken at a meeting of the Board of Directors or a committee thereof, may be taken without a meeting if a consent in writing, setting forth the action to be so taken, signed by all the directors, or all the members of the committee, as the case may be, is filed in the minutes of the proceedings of the board or of the committee. Such consent will have the same effect as a unanimous vote.

ARTICLE III. OFFICERS

Section 1. Officers. The officers of CREDEX Corporation will consist of a president, a vice president, a secretary and a treasurer, each of whom will be elected by the Board of Directors. Such other officers and assistant officers and agents as may be deemed necessary may be elected or appointed by the Board of Directors from time to time. Any two or more offices may be held by the same person.

Section 2. Duties. The officers of CREDEX Corporation will have the following duties:

The President will be the chief executive officer of CREDEX Corporation, who generally and actively manages the business and affairs of CREDEX Corporation subject to the directions of the Board of Directors. Said officer will preside at all meetings of the shareholders and Board of Directors.

The Vice President will, in the event of the absence or inability of the President to exercise his office, become acting president of the organization with all the rights, privileges and powers as if said person had been duly elected president.

The Secretary will have custody of, and maintain all of the corporate records except the financial records. Furthermore, said person will record the minutes of all meetings of the shareholders and Board of Directors, send all notices of meetings and perform such other duties as may be prescribed by the Board of Directors or the President. Furthermore, said officer shall be responsible for authenticating records of CREDEX Corporation.

The Treasurer shall retain custody of all corporate funds and financial records, maintain full and accurate accounts of receipts and disbursements and render accounts thereof at the annual meetings of shareholders and whenever else required by the Board of Directors or the President, and perform such other duties as may be prescribed by the Board of Directors or the President.

Section 3. Removal and Resignation of Officers. An officer or agent elected or appointed by the Board of Directors may be removed by the Board of Directors whenever in the Board's judgment the best interests of CREDEX Corporation will be served thereby.

Any officer may resign at any time by delivering notice to CREDEX Corporation. Said resignation is effective upon delivery unless the notice specifies a later effective date.

Any vacancy in any office may be filled by the Board of Directors.

ARTICLE IV. STOCK CERTIFICATES

Section 1. Issuance. Every holder of share(s) in CREDEX Corporation will be entitled to have a certificate representing all share(s) to which he is holder. No certificate representing share(s) will be issued until such share(s) is/are fully paid.

Section 2. Form. Certificates representing share(s) in CREDEX Corporation will be signed by the President or Vice President and the Secretary or an Assistant Secretary and will be sealed with the seal of CREDEX Corporation.

Section 3. Transfer of Stock. CREDEX Corporation will register a stock certificate presented for transfer if the certificate is properly endorsed by the holder of record or by his duly authorized agent.

Section 4. Lost, Stolen, or Destroyed Certificates. If a shareholder claims that a stock certificate representing shares issued and recorded by CREDEX Corporation has been lost or destroyed, a new certificate will be issued to said shareholder, provided that said shareholder presents an affidavit claiming the certificate of stock to be lost, stolen or destroyed. At the discretion of the Board of Directors, said shareholder may be required to deposit a bond or other indemnity in such amount and with such sureties, if any, as the board may require.

ARTICLE V. BOOKS AND RECORDS

Section 1. Books and Records. CREDEX Corporation shall keep as permanent records minutes of all meetings of its shareholders and Board of Directors, a record of all actions taken by the shareholders or Board of Directors without a meeting, and a record of all actions taken by a committee of the Board of Directors in place of the Board of Directors on behalf of CREDEX Corporation. Furthermore, CREDEX Corporation shall maintain accurate accounting records. Furthermore, CREDEX Corporation shall maintain the following:

(i) a record of its shareholders in a form that permits preparation of a list of the names and addresses of all shareholders in alphabetical order by class of shares showing the number and series of shares held by each;

(ii) CREDEX Corporation's Articles or Restated Articles of Incorporation and all amendments thereto currently in effect;

(iii) CREDEX Corporation's Bylaws or Restated Bylaws and all amendments thereto currently in effect;

(iv) Resolutions adopted by the Board of Directors creating one or more classes or series of shares and fixing their relative rights, preferences and limitations if shares issued pursuant to those resolutions are outstanding;

(v) The minutes of all shareholders' meetings and records of all actions taken by shareholders without a meeting for the past 3 years;

(vi) Written communications to all shareholders generally or all shareholders of a class or series within the past 3 years including the financial statements furnished for the past 3 years to shareholders as may be required under Florida Law;

(vii) A list of the names and business street addresses of CREDEX Corporation's current directors and officers; and

(viii) A copy of CREDEX Corporation's most recent annual report delivered to the Department of State.

Any books, records and minutes may be in written form or in any other form capable of being converted into written form.

Section 2. Shareholder's Inspection Rights. A shareholder of CREDEX Corporation (including a beneficial owner whose shares are held in a voting trust or a nominee on behalf of a beneficial owner) may inspect and copy, during regular business hours at CREDEX Corporation's principal office, any of the corporate records required to be kept pursuant to Section 1, of this Article of these Bylaws, if said shareholder gives CREDEX Corporation written notice of such demand at least 5 business days before the date on which the shareholder wishes to inspect and copy. The foregoing right of inspection is subject however to such other restrictions as are applicable under Florida Law, including, but not limited to, the inspection of certain records being permitted only if the demand for inspection is made in good faith and for a proper purpose (as well as the shareholder describing with reasonable particularity the purpose and records desired to be inspected and such records are directly connected with the purpose).

Section 3. Financial Information. Unless modified by resolution of the shareholders within 120 days of the close of each fiscal year, CREDEX Corporation shall furnish the shareholders annual financial statements which may be consolidated or combined statements of CREDEX Corporation and one or more of its subsidiaries as appropriate, that include a balance sheet as of the end of the fiscal year, an income statement for that year, and a statement of cash flow for that year. If financial statements are prepared on the basis of generally accepted accounting principles, the annual financial statements must also be prepared on that basis. If the annual financial statements are reported on by a public accountant, said accountant's report shall accompany said statements. If said annual financial statements are not reported on by a public accountant, then the statements shall be accompanied by a statement of the president or the person responsible for CREDEX Corporation's accounting records (a) stating his reasonable belief whether the statements were prepared on the basis of generally accepted accounting principles and if not, describing the basis of preparation; and (b) describing any respects in which the statements were not prepared on a basis of accounting consistent with the statements prepared for the preceding year. The annual financial statements shall be mailed to each shareholder of CREDEX Corporation within 120 days after the close of each fiscal year or within such additional time as is reasonably necessary to enable CREDEX Corporation to prepare same, if, for reasons beyond CREDEX Corporation's control, said annual financial statement cannot be prepared within the prescribed period.

Section 4. Other Reports to Shareholders. CREDEX Corporation shall report any indemnification or advanced expenses to any director, officer, employee, or agent (for indemnification relating to litigation or threatened litigation) in writing to the shareholders with or before the notice of the next shareholders' meeting, or prior to such meeting if the indemnification or advance occurs after the giving of such notice but prior to the time such meeting is held, which report shall include a statement specifying the persons paid, the amounts paid, and the nature and status, at the time of such payment, of the litigation or threatened litigation.

Additionally, if CREDEX Corporation issues or authorizes the issuance of shares for promises to render services in the future, CREDEX Corporation shall report in writing to the shareholders the number of shares authorized or issued and the consideration received by CREDEX Corporation, with or before the notice of the next shareholders' meeting.

ARTICLE VI. DIVIDENDS

The Board of Directors of CREDEX Corporation may, from time to time declare dividends on its shares in cash, property or its own shares, except when CREDEX Corporation is insolvent or when the payment thereof would render CREDEX Corporation insolvent, subject to Florida Law.

ARTICLE VII. CORPORATE SEAL

The Board of Directors will provide a corporate seal which will be in circular form embossing in nature and stating "Corporate Seal", "Florida", year of incorporation and name of said corporation.

ARTICLE VIII. AMENDMENT

These Bylaws may be altered, amended or repealed, and altered, amended or new Bylaws may be adopted by a majority vote of the full Board of Directors.

Adapted as the initial by-laws of the corporation by the sole director on October 30, 2005.

EX-31 4 exhibit_31-1.htm CERTIFICATION OF 302

EX-31.1 CERTIFICATION OF 302

Exhibit 31.1

Credex Corporation

Certification Pursuant to Rule 13a-14(a)

Section 302 Certification

I, Arunkumar Rajapandy, the Chief Executive Officer of Credex Corporation, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Credex Corporation;

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, the results of operations and cash flows of the small business issuer as of, and for, the periods presented in this report;

4. The issuer'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 for the 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 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) evaluated the effectiveness of the 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

(c) disclosed in this report any change in the small business issuer's internal control over financial reporting that occurred during the issuer's most recent fiscal quarter (the issuer's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the issuer's internal control over financial reporting; and

5. The 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 in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the issuer'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 issuer's internal control over financial reporting.

Date: June 4, 2012

Credex Corporation

By: __/S/ Arunkumar Rajapandy_

Arunkumar Rajapandy,

Chief Executive Officer

EX-31 5 exhibit_31-2.htm CERTIFICATION OF 302

EX-31.2 CERTIFICATION OF 302

Exhibit 31.2

Credex Corporation

Certification Pursuant to Rule 13a-14(a)

Section 302 Certification

I, Arunkumar Rajapandy, the Chief Financial Officer) of Credex Corporation, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Credex Corporation;

4. The small business issuer'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 issuer and have:

(c) disclosed in this report any change in the issuer's internal control over financial reporting that occurred during the 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 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 issuer's board of directors (or persons performing the equivalent functions):

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

Date: June 4, 2012

Credex Corporation

By: __/S/ Arunkumar Rajapandy_

Arunkumar Rajapandy,

Chief Financial Officer

EX-32 6 exhibit_32-1.htm 906 CERTIFICATION

EX-32.1 906 CERTIFICATION

Exhibit 32.1

Credex Corporation

Certification Pursuant to 18 U.S.C. § 1350

Section 906 Certifications

Pursuant to 18 U.S.C. § 1350, as enacted by Section 906 of the Sarbanes-Oxley Act of 2002 (Public Law 107-204), the undersigned, Arunkumar Rajapandy, the Chief Executive Officer of Credex Corporation, a Delaware corporation (the "Company"), hereby certify that:

1. The Company's Quarterly Report on Form 10-Q for the period ended March 31, 2012, as filed with the U.S. Securities and Exchange Commission on the date hereof (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 operations of the Company.

This Certification is signed on June 4, 2012.

Credex Corporation

By: __/S/ Arunkumar Rajapandy_

Arunkumar Rajapandy,

Chief Executive Officer

A signed original of this written statement required by Section 906 has been provided to Credex Corporation and will be retained by Credex Corporation and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32 7 exhibit_32-2.htm 906 CERTIFICATION

EX-32.2 906 CERTIFICATION

Exhibit 32.2

Credex Corporation

Certification Pursuant to 18 U.S.C. § 1350

Section 906 Certifications

Pursuant to 18 U.S.C. § 1350, as enacted by Section 906 of the Sarbanes-Oxley Act of 2002 (Public Law 107-204), the undersigned, Arunkumar Rajapandy, the Chief Financial Officer of Credex Corporation, a Delaware corporation (the "Company"), hereby certify that:

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

This Certification is signed on June 4, 2012.

Credex Corporation

By: __/S/ Arunkumar Rajapandy_

Arunkumar Rajapandy,

Chief Financial Officer

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NOTE A SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES   <table align="center" cellspacing="0" cellpadding="0" style="width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px; font: 10pt Courier New, Courier, Monospace; text-autospace: ideograph-numeric"> </td> <td style="width: 36px; font: 10pt Courier New, Courier, Monospace; text-autospace: ideograph-numeric">1.</td> <td style="font: 10pt Courier New, Courier, Monospace; text-autospace: ideograph-numeric; text-decoration: underline">Organization and Purpose</td></tr> </table>   Credex Corporation, (the Company) was incorporated in the State of Florida on September 2, 2005. The Company is presently engaged in market research regarding the cost and availability of non-performing credit card portfolios including current market prices for the sales of portfolios deemed non-collectable at the time of sale. The Company is exploring avenues for raising capital in order to put its business plan into effect. The Company has a December 31 year-end. The Companys principal office is in Las Vegas, NV .   <table align="center" cellspacing="0" cellpadding="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px; text-autospace: ideograph-numeric"> </td> <td style="width: 36px; text-autospace: ideograph-numeric">2.</td> <td style="text-autospace: ideograph-numeric; text-decoration: underline">Basis of Presentation</td></tr> </table>   The accompanying financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X, and, therefore, do include all information and footnotes necessary for a complete presentation of financial position, results of operations, cash flows, and stockholders equity in conformity with accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature.   These financial statements should be read in conjunction with the audited financial statements and notes thereto contained in the Companys Form 10-K filed on April 24, 2012.  The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year.  Notes to the financial statements, which would substantially duplicate the disclosure contained in the audited financial statements for fiscal year 2011 as reported in Form 10-K, have been omitted.   <table align="center" cellspacing="0" cellpadding="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px; text-autospace: ideograph-numeric"> </td> <td style="width: 36px; text-autospace: ideograph-numeric">3.</td> <td style="text-autospace: ideograph-numeric; text-decoration: underline">Accounting Basis</td></tr> </table>   The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (GAAP accounting).  The Company has adopted a December 31 fiscal year end.   <table align="center" cellspacing="0" cellpadding="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px; text-autospace: ideograph-numeric"> </td> <td style="width: 36px; text-autospace: ideograph-numeric">4.</td> <td style="text-autospace: ideograph-numeric; text-decoration: underline">Development Stage</td></tr> </table>   The Company is currently a development stage entity as defined under accounting standards, as it continues development activities related to non-performing credit card portfolios. As required for development stage enterprises, the statements of operations, cash flows and changes in stockholders equity (deficit) are presented on a cumulative basis from inception.   <table align="center" cellspacing="0" cellpadding="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px; text-autospace: ideograph-numeric"> </td> <td style="width: 36px; text-autospace: ideograph-numeric">5.</td> <td style="text-autospace: ideograph-numeric; text-decoration: underline">Revenue Recognition</td></tr> </table>   The Company recognizes revenue from purchased non-performing receivables in accordance with accounting standards on the accounting for certain loans or debt securities acquired in a transfer. The Company will use the cost recovery method and recognize income only after it has recovered its carrying value of purchased non-performing receivables. There can be no assurance as to when or if the carrying value will be recovered. Recognition of income using the interest method would be dependent on the Company having the ability to develop reasonable expectations of both the timing and amount of cash flows to be collected. Due to uncertainties related to the expected timing of the collections of older non-performing receivables purchased as a result of the economic environment and the lack of validation of certain account components, the Company determined that it will not have the ability to develop reasonable expectations of timing of cash flows to be collected.   <table align="center" cellspacing="0" cellpadding="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px; text-autospace: ideograph-numeric"> </td> <td style="width: 36px; text-autospace: ideograph-numeric">6.</td> <td style="text-autospace: ideograph-numeric; text-decoration: underline">Cash and Equivalents</td></tr> </table>   For purposes of the statement of cash flows, the Company considers all highly liquid investments with original maturities of less than three months to be cash equivalents.   <table align="center" cellspacing="0" cellpadding="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px; text-autospace: ideograph-numeric"> </td> <td style="width: 36px; text-autospace: ideograph-numeric">7.</td> <td style="text-autospace: ideograph-numeric; text-decoration: underline">Financial Instruments</td></tr> </table>   Financial instruments consist of bank deposits. The carrying amount of financial instruments approximates fair value due to short-term maturities and market interest rates.   <table align="center" cellspacing="0" cellpadding="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px; text-autospace: ideograph-numeric"> </td> <td style="width: 36px; text-autospace: ideograph-numeric">8.</td> <td style="text-autospace: ideograph-numeric; text-decoration: underline">Advertising</td></tr> </table>   The Company expenses advertising and promotions costs as they are incurred.   <table align="center" cellspacing="0" cellpadding="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px; text-autospace: ideograph-numeric"> </td> <td style="width: 36px; text-autospace: ideograph-numeric">9.</td> <td style="text-autospace: ideograph-numeric; text-decoration: underline">Concentrations of Credit Risk</td></tr> </table>   The Company maintains its cash in a bank deposit account insured by the Federal Deposit Insurance Corporation (FDIC).  As of March 31, 2012 and December 31, 2011, the Company had no balances in excess of federally insured limits.   <table align="center" cellspacing="0" cellpadding="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px; text-autospace: ideograph-numeric"> </td> <td style="width: 36px; text-autospace: ideograph-numeric">10.</td> <td style="text-autospace: ideograph-numeric; text-decoration: underline">Earnings per Share</td></tr> </table>   Basic earnings per share is computed by dividing net income available to common stockholders by the weighted average number of common stock shares outstanding during the year. Diluted EPS is computed by dividing net income available to common stockholders by the weighted average number of common stock shares outstanding during the year plus potential dilutive instruments such as stock options and warrants. The Company has no dilutive instruments outstanding.     <table align="center" cellspacing="0" cellpadding="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px; text-autospace: ideograph-numeric"> </td> <td style="width: 36px; text-autospace: ideograph-numeric">11.</td> <td style="text-autospace: ideograph-numeric; text-decoration: underline">Income Taxes</td></tr> </table>   The Company follows Section 740-10-30 of the FASB Accounting Standards Codification, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns.   Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Statements of Operations in the period that includes the enactment date.   The Company adopted section 740-10-25 of the Codification (Section 740-10-25) which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. The Company had no material adjustments to its liabilities for unrecognized income tax benefits according to the provisions of Section 740-10-25.     <table align="center" cellspacing="0" cellpadding="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px; text-autospace: ideograph-numeric"> </td> <td style="width: 36px; text-autospace: ideograph-numeric">12.</td> <td style="text-autospace: ideograph-numeric; text-decoration: underline">Stock-Based Compensation</td></tr> </table>   Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.   <table align="center" cellspacing="0" cellpadding="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px; text-autospace: ideograph-numeric"> </td> <td style="width: 36px; text-autospace: ideograph-numeric">13.</td> <td style="text-autospace: ideograph-numeric; text-decoration: underline">Dividends</td></tr> </table>   The Company has not adopted any policy regarding payment of dividends. No dividends have been paid during any of the periods shown.   <table align="center" cellspacing="0" cellpadding="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px; text-autospace: ideograph-numeric"> </td> <td style="width: 36px; text-autospace: ideograph-numeric">14.</td> <td style="text-autospace: ideograph-numeric; text-decoration: underline">Use of Estimates</td></tr> </table>   The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.   <table align="center" cellspacing="0" cellpadding="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px; text-autospace: ideograph-numeric"> </td> <td style="width: 36px; text-autospace: ideograph-numeric">14.</td> <td style="text-autospace: ideograph-numeric; text-decoration: underline">Comprehensive Income</td></tr> </table>   The Company has which established standards for reporting and display of comprehensive income, its components and accumulated balances. When applicable, the Company would disclose this information on its Statement of Stockholders Equity. Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. The Company has not had any significant transactions that are required to be reported in other comprehensive income.   <table align="center" cellspacing="0" cellpadding="0" style="font: 10pt Courier New, Courier, Monospace; width: 100%"> <tr style="vertical-align: top"> <td style="width: 24px; text-autospace: ideograph-numeric"> </td> <td style="width: 36px; text-autospace: ideograph-numeric">15.</td> <td style="text-autospace: ideograph-numeric; text-decoration: underline">Recently Issued Accounting Standards</td></tr> </table>   In September 2011, the FASB issued an amendment to Topic 350, IntangiblesGoodwill and Other, which simplifies how entities test goodwill for impairment. Previous guidance under Topic 350 required an entity to test goodwill for impairment using a two-step process on at least an annual basis.  First, the fair value of a reporting unit was calculated and compared to its carrying amount, including goodwill.  Second, if the fair value of a reporting unit was less than its carrying amount, the amount of impairment loss, if any, was required to be measured.  Under the amendments in this update, an entity has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads the entity to determine that it is more likely than not that its fair value is less than its carrying amount.  If after assessing the totality of events or circumstances, an entity determines that it is not more likely than not that the fair value of the reporting unit is less than its carrying amount, then the two-step impairment test is unnecessary.  If the entity concludes otherwise, then it is required to test goodwill for impairment under the two-step process as described under paragraphs 350-20-35-4 and 350-20-35-9 under Topic 350.  The amendments are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011 and early adoption is permitted.  Credex does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Companys results of operations, financial position or cash flow.

NOTE B GOING CONCERN   The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. The Companys financial position and operating results raise substantial doubt about its ability to continue as a going concern. The Company is in the development stage and has sustained losses of $305,292 since inception. The ability of the Company to continue as a going concern is dependent upon expanding operations and obtaining additional capital and financing. Managements plan in this regard is to implement the Companys business plan and to secure additional funds through equity or debt financing. The financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern.

NOTE C NOTES PAYABLE   During the year ended December 31, 2011, three shareholder of the Company loaned a total of $5,300 to help fund operations. These loans were unsecured, due on demand and bore 12% interest. The notes were repaid during the year ended December 31, 2011. Total interest expense related to these loans was $1,236 for the year ended December 31, 2011. (Refer to Note F Related Party Transactions)   On March 21, 2011, the Company received a loan of $5,000 to help fund operations. The loan was unsecured, due on demand and bore 12% interest. The loan was repaid during the year ended December 31, 2011. Total interest expense related to this loan was $317 for the year ended December 31, 2011.

NOTE D STOCKHOLDERS EQUITY (DEFICIT)   At inception on September 2, 2005, the Company was authorized to have outstanding 10,000 shares of common stock at $0.10 par value per share. On October 24, 2007, the Company amended its Articles of Incorporation to increase the maximum number of authorized common shares to 100,000,000 and changed the par value to $0.001 per share, which has been retro-actively restated to $0.001 in the accompanying financial statements.   The Company has forty stockholders of record as of December 31, 2011. As of December 31, 2011, the outstanding shares were 5,899,250. Share transactions during the year ended December 31, 2010, resulted in an increase in shares outstanding of 2,333,750 shares as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; padding-left: 5.4pt">Shares issued for cash at $0.02 per share</td><td style="width: 10%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">267,500</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">Shares issued for cash at $0.04 per share</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">566,250</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Shares issued for future services at $0.113 per share</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,500,000</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; padding-left: 5.4pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">2,333,750</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>   Additionally, ownership of 694,445 shares was transferred from a past officer/director to Cypress. This former officer/director is a member of Cypress. Another past officer/director who is deceased passed to his heirs 1,705,555 shares of which his heirs transferred 764,180 shares to Cypress. A total of 2,958,625 shares have been transferred to Cypress under a consulting management agreement with the Company. Upon completion of its services, Cypress is to be paid $200,000 by the Company at which time Cypress will return these shares. On November 9, 2011 Cypress forgive the liability of $200,000 as agreed between the directors and Cypress to make way for new management takeover. (Refer to Note F Related Party Transactions)

NOTE E INCOME TAXES   Deferred income taxes result from temporary differences between the basis of assets and liabilities recognized for differences between the financial statements and tax basis thereon, and for the expected future tax benefits to be derived from net operations losses and tax credit carry-forwards. The Company has net operating losses and has recorded a valuation allowance equal to the tax benefit of the accumulated net operating losses, since it is uncertain that future taxable income will be realized during the applicable carry-forward periods. These benefits expire between 2025 and 2031.   The Companys deferred tax assets as of March 31, 2012 and December 31, 2011 were as follows:   <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 11pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2012</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2011</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left; padding-left: 5.4pt">Deferred tax asset</td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">139,940</td><td style="width: 1%; text-align: left"> </td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">138,770</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(139,940</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(138,770</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Net Deferred Tax Asset</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">0</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">0</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

NOTE F RELATED PARTY TRANSACTIONS   A shareholder of the Company, Globex Transfer, LLC, a stock transfer agent, was engaged in November 2010 to provide stock transfer services. As of December 31, 2011, $750 expenses were incurred with an outstanding balance payable of $450.   On July 9, 2010, the Company entered into an agreement for services with Cypress, a related party, whereby Cypress acts as consultant to:   1. Raise the necessary money for the Company to operate in the short term 2. Prepare and file documents with the SEC to take the Company public 3. Secure a transfer agent and market maker broker-dealer for the Companys stock 4. Secure the necessary audits for the required filing documents 5. Provide day-to-day operational management of the Company   In exchange for these services, which the Company anticipates will last for a ten month period, the Company agreed to pay Cypress cash fees of $200,000 as well as provide Cypress with 2,958,625 shares of its stock, which effectively transfers control of the Company to Cypress during this period. Because the consulting services began August 1, 2010, amortization into Professional Fee was $100,000 in 2011 and $100,000 in 2010 resulting in net unearned capital of $100,000 as of December 31, 2010 and $ 0 as of December 31, 2011. Upon receipt of the cash payment of $200,000, Cypress is to return the shares to the Companys treasury. On November 9, 2011 Cypress forgiven the liability of $200,000 as agreed between the directors and Cypress to make way for new management takeover. [Refer to Note B Stockholders Equity (Deficit)] Also, as part of the contract with Cypress, the Company is responsible for normal operating costs, which Cypress was providing. From 1st January 2012 Cypress is no way responsible or involved in normal operating costs of the company.   During the year ended December 31, 2011, three shareholders of the Company loaned a total of $5,300 for additional funding to assist the Company fund operations. These loans were unsecured, due on demand and bore 12% interest. The notes were repaid during the year ended December 31, 2011. Total interest expense related to these loans was $1,236 for the year ended December 31, 2011. (Refer to Note D Stockholders Loans)

NOTE G FILING WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION   There are no pending comments on the Companys SEC filings. The Company filed an S-1 (with amendments) Registration Statement pursuant to the 1933 Act.  This registration became effective April 13, 2011.  The S-1 registered the 2,940,625 shares in the hands of current shareholders (except for Cypress Bends shares refer to Note F Related Party) for trading.

NOTE H SUBSEQUENT EVENTS   In accordance with ASC 855-10, the Company has analyzed its operations subsequent to March 31, 2012 to the date these financial statements were issued, and has determined that it does not have any material subsequent events to disclose in these financial statements.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
3 Months Ended

Mar. 31, 2012

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE A — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

1. Organization and Purpose

Credex Corporation, (the “Company”) was incorporated in the State of Florida on September 2, 2005. The Company is presently engaged in market research regarding the cost and availability of non-performing credit card portfolios including current market prices for the sales of portfolios deemed non-collectable at the time of sale. The Company is exploring avenues for raising capital in order to put its business plan into effect. The Company has a December 31 year-end. The Company’s principal office is in Las Vegas, NV .

2. Basis of Presentation

The accompanying financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X, and, therefore, do include all information and footnotes necessary for a complete presentation of financial position, results of operations, cash flows, and stockholders’ equity in conformity with accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments considered necessary for a fair presentation of the results of operations and financial position have been included and all such adjustments are of a normal recurring nature.

These financial statements should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Form 10-K filed on April 24, 2012. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements, which would substantially duplicate the disclosure contained in the audited financial statements for fiscal year 2011 as reported in Form 10-K, have been omitted.

3. Accounting Basis

The Company uses the accrual basis of accounting and accounting principles generally accepted in the United States of America (“GAAP” accounting). The Company has adopted a December 31 fiscal year end.

4. Development Stage

The Company is currently a development stage entity as defined under accounting standards, as it continues development activities related to non-performing credit card portfolios. As required for development stage enterprises, the statements of operations, cash flows and changes in stockholders’ equity (deficit) are presented on a cumulative basis from inception.

5. Revenue Recognition

The Company recognizes revenue from purchased non-performing receivables in accordance with accounting standards on the accounting for certain loans or debt securities acquired in a transfer. The Company will use the cost recovery method and recognize income only after it has recovered its carrying value of purchased non-performing receivables. There can be no assurance as to when or if the carrying value will be recovered. Recognition of income using the interest method would be dependent on the Company having the ability to develop reasonable expectations of both the timing and amount of cash flows to be collected. Due to uncertainties related to the expected timing of the collections of older non-performing receivables purchased as a result of the economic environment and the lack of validation of certain account components, the Company determined that it will not have the ability to develop reasonable expectations of timing of cash flows to be collected.

6. Cash and Equivalents

For purposes of the statement of cash flows, the Company considers all highly liquid investments with original maturities of less than three months to be cash equivalents.

7. Financial Instruments

Financial instruments consist of bank deposits. The carrying amount of financial instruments approximates fair value due to short-term maturities and market interest rates.

8. Advertising

The Company expenses advertising and promotions costs as they are incurred.

9. Concentrations of Credit Risk

The Company maintains its cash in a bank deposit account insured by the Federal Deposit Insurance Corporation (FDIC). As of March 31, 2012 and December 31, 2011, the Company had no balances in excess of federally insured limits.

10. Earnings per Share

Basic earnings per share is computed by dividing net income available to common stockholders by the weighted average number of common stock shares outstanding during the year. Diluted EPS is computed by dividing net income available to common stockholders by the weighted average number of common stock shares outstanding during the year plus potential dilutive instruments such as stock options and warrants. The Company has no dilutive instruments outstanding.

11. Income Taxes

The Company follows Section 740-10-30 of the FASB Accounting Standards Codification, which requires recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements or tax returns.

Under this method, deferred tax assets and liabilities are based on the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the Statements of Operations in the period that includes the enactment date.

The Company adopted section 740-10-25 of the Codification (“Section 740-10-25”) which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under Section 740-10-25, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent (50%) likelihood of being realized upon ultimate settlement. Section 740-10-25 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. The Company had no material adjustments to its liabilities for unrecognized income tax benefits according to the provisions of Section 740-10-25.

12. Stock-Based Compensation

Stock-based compensation is accounted for at fair value in accordance with ASC Topic 718. To date, the Company has not adopted a stock option plan and has not granted any stock options.

13. Dividends

The Company has not adopted any policy regarding payment of dividends. No dividends have been paid during any of the periods shown.

14. Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

14. Comprehensive Income

The Company has which established standards for reporting and display of comprehensive income, its components and accumulated balances. When applicable, the Company would disclose this information on its Statement of Stockholders’ Equity. Comprehensive income comprises equity except those resulting from investments by owners and distributions to owners. The Company has not had any significant transactions that are required to be reported in other comprehensive income.

15. Recently Issued Accounting Standards

In September 2011, the FASB issued an amendment to Topic 350, Intangibles—Goodwill and Other, which simplifies how entities test goodwill for impairment. Previous guidance under Topic 350 required an entity to test goodwill for impairment using a two-step process on at least an annual basis. First, the fair value of a reporting unit was calculated and compared to its carrying amount, including goodwill. Second, if the fair value of a reporting unit was less than its carrying amount, the amount of impairment loss, if any, was required to be measured. Under the amendments in this update, an entity has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads the entity to determine that it is more likely than not that its fair value is less than its carrying amount. If after assessing the totality of events or circumstances, an entity determines that it is not more likely than not that the fair value of the reporting unit is less than its carrying amount, then the two-step impairment test is unnecessary. If the entity concludes otherwise, then it is required to test goodwill for impairment under the two-step process as described under paragraphs 350-20-35-4 and 350-20-35-9 under Topic 350. The amendments are effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011 and early adoption is permitted. Credex does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow.

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

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BALANCE SHEETS (USD $)	Mar. 31, 2012	Dec. 31, 2011
CURRENT ASSETS:
Cash	$ 0	$ 39
Total Assets	0	39
CURRENT LIABILITIES:
Accounts payable	3,850	450
Total Current Liabilities	3,850	450
STOCKHOLDERS' DEFICIT:
Common stock, $0.001 par value; 100,000,000 shares authorized, 5,899,250 shares issued and outstanding	5,899	5,899
Additional paid-in capital	295,543	295,543
Unearned capital (see Note F)	0	0
Deficit accumulated during the development stage	(305,292)	(301,853)
Total Stockholders' Deficit	(3,850)	(411)
Total Liabilities and Stockholders' Deficit	$ 0	$ 39

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STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) (Parenthetical) (USD $)	Dec. 31, 2010	Dec. 31, 2009	Dec. 31, 2008	Dec. 31, 2007	Dec. 31, 2005
Statement of Stockholders' Equity [Abstract]
Common stock issued, price per share	$ 0.02	$ 0.02	$ 0.02	$ 0.0072	$ 0.001
Common stock issued, price per share for additional shares issued during period	$ 0.04
Common stock issued, price per share for shares issued for future services	$ 0.0133

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STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended		79 Months Ended
STATEMENTS OF CASH FLOWS (USD $)	Mar. 31, 2012	Mar. 31, 2011	Mar. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss for the period	$ (3,439)	$ (75,219)	$ (305,292)
Adjustments to reconcile net loss to net cash used in operating activities
Common stock issued for services	0	0	0
Changes in assets and liabilities:
Increase in accounts payable	3,400	13,079	3,850
Net Cash Used by Operating Activities	(39)	(62,140)	(301,442)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from stockholder loan			0
Repayment of stockholder loan			0
Proceeds from the sale of common stock	0	60,000	301,442
Net Cash Provided by Financing Activities	0	60,000	301,442
Net Increase (Decrease) in Cash and Cash Equivalents	(39)	(2,140)	0
Cash and cash equivalents, beginning of period	39	2,194
Cash and Cash Equivalents - Ending	$ 0	$ 54	$ 0

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BALANCE SHEETS (Parenthetical) (USD $)	Mar. 31, 2012	Dec. 31, 2011
Statement of Financial Position [Abstract]
Common stock, par value per share	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	5,899,250	5,899,250
Common stock, shares outstanding	5,899,250	5,899,250

- Definition

Total number of shares of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares represent the ownership interest of the common shareholders. Shares outstanding equals shares issued minus shares held in treasury and other adjustments, if any.

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Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2012	Jun. 04, 2012
Document And Entity Information
Entity Registrant Name	CREDEX CORP
Entity Central Index Key	0001432939
Document Type	10-Q
Document Period End Date	Mar. 31, 2012
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	No
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		5,899,250
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2012

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STATEMENTS OF OPERATIONS (USD $)	3 Months Ended		79 Months Ended
STATEMENTS OF OPERATIONS (USD $)	Mar. 31, 2012	Mar. 31, 2011	Mar. 31, 2012
REVENUE
Finance income	$ 0	$ 0	$ 15,417
Consulting income	0	0	8,000
TOTAL REVENUE	0	0	23,417
OPERATING EXPENSES
Travel	0	0	6,882
Office expenses	0	590	10,027
Telephone	0	165	2,963
Professional fees (see Note F)	3,439	72,409	271,521
Advertising	0	0	350
Portfolio purchase	0	0	21,000
Seminar	0	0	1,585
Stock transfer agent fees (see Note E)	0	0	6,350
Rent	0	1,994	6,511
TOTAL OPERATING EXPENSES	3,439	75,158	327,189
LOSS FROM OPERATIONS	(3,439)	(75,158)	(303,772)
OTHER INCOME (EXPENSE):
Interest income	0	0	33
Interest expense	0	(60)	(1,553)
TOTAL OTHER INCOME (EXPENSE)	0	(60)	(1,520)
LOSS PRIOR TO INCOME TAXES	(3,439)	(75,218)	(305,292)
PROVISION FOR INCOME TAXES	0	0	0
NET LOSS	$ (3,439)	$ (75,219)	$ (305,292)
NET LOSS PER SHARE: BASIC AND DILUTED	$ (0.001)	$ (0.013)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING	5,899,250	5,899,250

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INCOME TAXES

3 Months Ended

Mar. 31, 2012

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE E — INCOME TAXES

The Company’s deferred tax assets as of March 31, 2012 and December 31, 2011 were as follows:

	2012			2011
Deferred tax asset	$	139,940		$	138,770
Valuation allowance		(139,940	)		(138,770	)
Net Deferred Tax Asset	$	0		$	0

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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STOCKHOLDERS' EQUITY (DEFICIT)

3 Months Ended

Mar. 31, 2012

Stockholders' Equity Note [Abstract]

STOCKHOLDERS? EQUITY (DEFICIT)

NOTE D — STOCKHOLDERS’ EQUITY (DEFICIT)

Shares issued for cash at $0.02 per share			267,500
Shares issued for cash at $0.04 per share			566,250
Shares issued for future services at $0.113 per share			1,500,000
			2,333,750

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

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-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 23: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

+ Details

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SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2012

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

NOTE H — SUBSEQUENT EVENTS

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RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2012

RELATED PARTY TRANSACTIONS

NOTE F — RELATED PARTY TRANSACTIONS

On July 9, 2010, the Company entered into an agreement for services with Cypress, a related party, whereby Cypress acts as consultant to:

1. Raise the necessary money for the Company to operate in the short term

2. Prepare and file documents with the SEC to take the Company public

3. Secure a transfer agent and market maker broker-dealer for the Company’s stock

4. Secure the necessary audits for the required filing documents

5. Provide day-to-day operational management of the Company

- Definition

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(k))

-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 3A

-Section 04

-Paragraph b

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 57

-Paragraph 1-4

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

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-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39678-107864

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Article 4

-Section 08

-Paragraph k

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 850

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

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-Section 50

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-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39622-107864

Reference 9: http://www.xbrl.org/2003/role/presentationRef

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-Topic 850

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-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39603-107864

+ Details

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FILING WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION

3 Months Ended

Mar. 31, 2012

Filing With U.S. Securities And Exchange Commission

FILING WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION

NOTE G — FILING WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION

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STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Unearned Capital [Member]	Deficit Accumulated During the Development Stage [Member]
Balance at Sep. 01, 2005	$ 0	$ 0	$ 0	$ 0
Balance, shares at Sep. 01, 2005	0
Shares purchased for cash at $0.001 per share	10	990	0	0
Shares purchased for cash at $0.001 per share, shares	10,000
Net loss for the period	0		0	(8,397)
Balance at Dec. 31, 2005	10	990	0	(8,397)
Balance, shares at Dec. 31, 2005	10,000
Net loss for the period	0	0	0	(8,056)
Balance at Dec. 31, 2006	10	990	0	(16,453)
Balance, shares at Dec. 31, 2006	10,000
Conversion of stockholder loan to common stock at $0.0072 per share	2,490	15,441	0	0
Conversion of stockholder loan to common stock at $0.0072 per share, shares	2,490,000
Net loss for the period	0	0	0	(2,087)
Balance at Dec. 31, 2007	2,500	16,431	0	(18,540)
Balance, shares at Dec. 31, 2007	2,500,000
Common stock issued for cash at $0.02 per share	350	6,650	0	0
Common stock issued for cash at $0.02 per share, shares	350,000
Net loss for the period	0	0	0	(7,001)
Balance at Dec. 31, 2008	2,850	23,081	0	(25,541)
Balance, shares at Dec. 31, 2008	2,850,000
Common stock issued for cash at $0.02 per share	715	13,595	0	0
Common stock issued for cash at $0.02 per share, shares	715,500
Net loss for the period	0	0	0	(15,015)
Balance at Dec. 31, 2009	3,565	36,676	0	(40,556)
Balance, shares at Dec. 31, 2009	3,565,500
Common stock issued for cash at $0.02 per share	268	5,082	0	0
Common stock issued for cash at $0.02 per share, shares	267,500
Common stock issued for cash at $0.04 per share	566	22,084	0	0
Common stock issued for cash at $0.04 per share, shares	566,250
Common stock issued for future services at $0.133 per share (See Note E)	1,500	198,500	(200,000)	0
Common stock issued for future services at $0.133 per share (See Note E), shares	1,500,000
Amortization of unearned capital	0	0	100,000	0
Net loss for the period	0	0	0	(129,577)
Balance at Dec. 31, 2010	5,899	262,342	(100,000)	(170,133)
Balance, shares at Dec. 31, 2010	5,899,250
Amortization of unearned capital	0	0	100,000	0
Forgiveness of shareholder debt	0	33,201	0	0
Net loss for the period	0	0		(131,720)
Balance at Dec. 31, 2011	5,899	295,543	0	(301,853)
Balance, shares at Dec. 31, 2011	5,899,250
Net loss for the period				(3,439)
Balance at Mar. 31, 2012	$ 5,899	$ 295,543	$ 0	$ (305,292)
Balance, shares at Mar. 31, 2012	5,899,250

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NOTES PAYABLE

3 Months Ended

Mar. 31, 2012

Debt Disclosure [Abstract]

NOTES PAYABLE

NOTE C – NOTES PAYABLE

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References+ Details

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