UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 10-12G/A FIRST AMENDMENT

GENERAL FORM FOR REGISTRATION OF SECURITIES
Pursuant to Section 12(b) or (g) of The Securities Exchange Act of 1934

Credex Corporation
(Exact name of registrant as specified in its charter)

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

454 Treemont Drive, Orange, City, FL 32763
(Address of principal executive offices and Zip Code)

Registrant's telephone number, including area code (386) 218-6823

Securities to be registered pursuant to 12(b) of the Act:

Title of each class Name of each exchange on which
to be so registered each class to be registered

Not applicable Not applicable

Securities to be registered pursuant to 12(g) of the Act:

Title of each class Name of each exchange on which
to be so registered each class to be registered

Common Stock, Par Value $0.001 Not Applicable

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

1
Table of Contents

ITEM 1. BUSINESS 3
ITEM 1A. RISK FACTORS 12
ITEM 2. MANAGEMENT'S DICUSSION AND ANALYSIS OR PLAN OF OPERATION AND
FINANCIAL INFORMATION 15
ITEM 3. PROPERTIES 19
ITEM 4. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 19
ITEM 5. DIRECTORS AND EXECUTIVE OFFICERS 20
ITEM 6. EXECUTIVE COMPENSATION 25
ITEM 7. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR
INDEPENDENCE 26
ITEM 8. LEGAL PROCEEDINGS 26
ITEM 9. MARKET PRICE OF AND DIVIDENDS ON, THE REGISTRANT'S COMMON EQUITY
AND RELATED STOCKHOLDER MATTERS. 26
ITEM 10. RECENT SALES OF UNREGISTERED SECURITIES 27
ITEM 11. DESCRIPTION OF REGISTRANT'S SECURITIES TO BE REGISTERED 28
ITEM 12. INDEMNIFICATION OF DIRECTORS AND OFFICERS 30
ITEM 13. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 32
ITEM 14. CHANGES IN AND DISAGREEMENT WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE 46
ITEM 15. FIANCIAL STATEMENTS AND EXHIBITS
SIGNATURES 46
EXHIBIT 3.(i) 47
EXHIBIT 3.(ii) 50
EXHIBIT 10.1 61
EXHIBIT 10.2 65

[Intentionally Left Blank]

ITEM 1. BUSINESS

The Company

CREDEX CORPORATION, a Florida corporation formed on September 2, 2005,
hereinafter referred to as the ("Company"), was formed for the purpose of
raising the necessary funds for purchasing, servicing, managing and reselling
of non-performing (defaulted) unsecured credit card debt portfolios to be
acquired from financial institutions and distressed debt wholesalers. Since
its inception, the Company, on a limited basis, has derived minimal income
from the purchase collection and resale of a portfolio of non-performing
credit card debt. The Company has had minimal revenues to date. It has an
accumulated deficit of $ 52,804. When adequate funds become available, the
Company will direct its full attention to the purchase and management of
portfolios of non-performing credit card debt. The Company is filing this
Registration Statement voluntarily. Management believes by filing this
Form 10 and subsequent S-1 the company will be able to gain access to small
investors by providing easily obtainable information about the Company
through the required public filings.

The Company has attempted to raise funds for its stated purpose by two
different methods previously. 1)The Company has attempted to attract private
placement investment by discussions with individual potential investors. The
Company sold some of its stock through its own effort to various individuals.
The Company believes now, with its Form 10 and S-1 filing it can attract smaller
investments from a wider public population. 2) The Company has tried to sell
its stock with the use of Regulation D, Rule 506. This was unsuccessful.
Although the Company was formed on September 2, 2005, it did not develop its
business plan until 2008. The Company has diligently strived to raise equity
capital. It has not yet implemented its plan nor begun operations because it
has not yet been successful in raising the equity capital necessary to
implement the plan.

The Company intends to file an S-1 to register the shares now in the hands of
the shareholders. This will allow the shareholders an opportunity to profit
from their investment if a market develops in the stock. By registering the
stock, there is a much greater chance that the investment will be liquid. We
intend to also file an S-1 at a later undetermined date to register authorized
but unissued stock to raise capital for the Company. By filing the Form 10 and
S-1 in the manner proposed the Company will be able to obtain a trading symbol
and have an established market for the stock prior to filing the S-1 to register
the new issue.

Narrative Description of the Business

The Company will purchase all rights, title and interest in the non-performing
accounts receivable at deeply discounted rates, (approximately 10% or less of
face values), develop a portfolio of restructured debt with recurring monthly
payments for future collection or resale and sell the residual portfolio.

Number of Employees

The Company intends to operate for the foreseeable future without employees.
Credex has entered into a management contract with Cypress Bend Executive
Services, LLC ("Cypress"). This contract provides that Cypress will provide
operational support to Credex and to take Credex Public through Form 10 and S-1
filings with the Securities and Exchange Commission. Cypress will return the
shares it holds to Treasury Stock upon completion of its contract obligations
and receiving payment in full for its services.

Effective July 12, 2010, the Company entered into an agreement for services with
Cypress Bend Executive Services, LLC ("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, and

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

In exchange for these services, which the Company anticipates will last for a
six 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. Upon receipt of
the cash payment of $200,000, Cypress is to return the shares to the Company's
treasury.

PRODUCTS AND SERVICES

The Company's products are the credit card portfolios it purchases. The higher
the quality of the product, generally determined by age and consumer
demographics, the greater the cost and resulting recovery rate. The age of the
product, which typically is six months to two years old, will also determine the
value of the portfolio at the end sale, or how much the remaining portfolio will
recover in terms of price.

A given group of credit card delinquencies occurring in one month contain many
facets of delinquency causes. Generally, these causes for default will fall
within three categories; 1) non-financial impact (as in a dispute perceived to
be legitimate, or arguments over liability amid dissolving marriages);
2) one-time financial impact (temporary lay-off, major home or auto repair, a
death in the family); and 3) permanent financial reversal (disability,
retirement, benefits loss or reduction). Because a debtor's financial position
changes over a period of time, usually for the better, a certain portion of a
portfolio will be deemed collectable, at least partially.

This aging process is a well known an exploited fact in the collection industry.
Lending institutions have identified three distinct periods of time over which
collection efforts are initiated. These three periods are commonly referred to
as Primary (first collection effort lasting 3 to 12 months), Secondary (second
collection effort lasting from12 to 24 months), Tertiary (third collection
effort, also lasting from 24 to 36 months or longer) and Quads (forth collection
effort lasting from approximately 36 months to when the accounts become "out of
statute". The stage or age, of a portfolio is an important component in
determining its value. The Company intends to buy portfolios that are "One
Agency or Two Agency Accounts," which means that the accounts have previously
been sent to one or two another collection agencies for collection and then
retrieved.

All purchase agreements entered into, will allow for replacement or
reimbursement of accounts deemed uncollectible, as in the case of bankruptcies
death of the debtor or fraud, but only if the act

occurred less than 30 days after the purchase closing date. Payments made
directly to the seller are forwarded to the Company on a timely basis if
payments overlap.

PRODUCT SERVICING/OUTSOURCING DESCRIPTION

The Company intends to out-source all collection activities to established
collection agencies that have expertise in collecting non-performing credit card
debt. Once the portfolio has been acquired, the collection work effort begins
with these initial steps taken;

An initial written notice is sent to each debtor informing them of the change in
ownership of the debt owed and that the Company is entitled to the full amount
of principal and accrued interest due and that payment(s) are to be sent to the
collection agency as directed by the Company.

Initial Review. The object of this review is to isolate that part of the
portfolio that could most likely produce the highest earned revenue initially or
possessing the greatest means with which to provide initial revenue. Much can
be determined about a debtor and his ability to pay larger sums, when
considering the area in which he resides, whether he holds real estate, current
job status, the amount of unsecured debt he owes, and the status of same. These
are among the several criteria used to decide which accounts should be
prioritized initially. By this review, the collection agencies would be
concentrating heavily on the accounts most likely to pay in a short time-frame.

It is important to note that the review process usually takes place prior to
the actual purchase of the portfolio when a spreadsheet of the portfolio can be
examined for many of the criteria described above. Following the review of all
of the accounts in the portfolio, the Company can either reject the portfolio of
purchase it.

Collection Efforts. The collection process is responsible for the majority of
the recovery in the shortest period of time. This can best be described as an
intense and concentrated focus by the collectors on all accounts as prioritized
in the previous step. The higher the priority the greater the efforts. In this
phase, approximately 8% to 10% of the original portfolio face amount is deemed
recoverable in the first six months. Skip tracing (locating some of the debtors)
accounts may be utilized by the collector. Offers of settlements may be made to
the debtors of up to fifty percent of the debt to entice payment.

Restructuring. When the collection efforts are exhausted on accounts, usually 4
to 6 months after purchase, a new effort is initiated to restructure the
existing debt. Debtors are

encouraged to restructure the outstanding debt at lower monthly payments than
previously expected to pay; by forgiving accrued interest to date.
Correspondence. Regular collection notices and demand notices are mailed,
generating a fluctuating degree of response and remittance. An initial notice is
sent to the entire portfolio base, which notifies the debtors of the change of
debt holder, and further warns of the possibility of other collection remedies
for continued non-payment. From there, notices are collector generated befitting
the individual circumstances.

Portfolio Sale. Approximately 70% of the original portfolio will be sold, which
includes all of the accounts that are determined to be uncollectible at that
time. In order to improve cash flows, the Company intends to sell these
accounts every 120 to 160 days from the date of the portfolio purchase. The
company has developed several outlets to sell this residual product, which
represents 1% to 2% of remaining face amount.

MISSION

The Company intends to purchase non-performing credit card debt portfolios from
debt resellers and brokers. The Company intends to produce earned revenue equal
to a return of 9% to 12% of the face of the portfolio within 6 months. The
Company intends to sell the uncollected portion of the portfolio for 1% to 2%
of the remaining face amount after 120 days from the purchase date.

KEYS TO SUCCESS

1. Purchase portfolios at or near 1.5% to 3% of face value.
2. Collect 9% to 12% of the face value.
3. Sell uncollected portion of the portfolio for 1% to 2% of the
remaining face value (Included in # 2 above).
4. Keep cost of outsourced collections to 35% or less of
collections.

COMPANY SUMMARY

This is a "Development Stage" company. The Company intends to seek funding
through the sale of stock so that it can implement its business plan in the
near future. If the Company can be successful in this effort, it intends to
develop additional strategies for purchasing, collecting and reselling
portfolios of non-performing credit card debt.

COMPETITIVE COMPARISON

Competition occurs only in respect to purchasing the portfolios. The Company
will be able to be competitive in part because of the

expertise of its proposed collection agency vendors who will also review our
proposed portfolio purchases prior to our purchasing small portfolios. We can
not compete in the purchase of large portfolios because of our lack of large
amounts of capital. Small portfolios of debt are readily available from brokers
and wholesalers at competitive prices.

MARKET ANALYSIS SUMMARY

The idea of buying or selling portfolios is not a new one. The banking industry
has bought and sold portfolios for many years. Credit card issuing banks have
large portfolios of credit card debt, which for the most part, are performing
properly. However, there is always a certain portion that becomes delinquent or
non-performing. The delinquency portion was assigned to collection agencies
where a portion was recovered over time. What is different in the industry now
is, non-performing portfolios are being sold. The lender realizes immediate
revenue versus revenue over a period of time. Secondly, the lender no longer has
to maintain large costly recovery departments, tracking agency collections,
recalling accounts, auditing agency compliance with bank standards, and
reassigning accounts. In effect, the lender receives the net return of
approximately six to twenty four months of recovery efforts up front, while
cutting administrative costs and improving over-all performance results.

The availability of non-performing credit card debt can be characterized as
unending. So long as the American economy is credit based, there will always be
delinquency to varying degrees. If delinquency rates of credit card issuers were
to decline (implying less product for sale), market forces would move to
increase their share by lowering standards thereby once again increasing
delinquency rates. This cycle of tightening and loosening standards would
inversely affect the price paid for product.

INDUSTRY ANALYSIS

Charge-off credit card debt volume has grown from $3 billion in 1991 to $22
billion in 1999. From 1999 to 2002 it grew to $60 billion and as of June, 2003
it reached $73 billion. The total credit card debt outstanding as of March, 2009
was $939.6 billion dollars according to Federal Reserve data, of which
approximately 10% or approximately $94 billion was delinquent. 181 Million
Americans hold an average of 5.4 credit cards with an average debt of $1,157per
card or $6,247 per person. The average household debt was $10,697 as of
December, 2008. The above statistics were taken from Nilson Reports, dated
March and April, 2009, the census bureau and Experian, dated March, 2009.

INDUSTRY PARTICIPANTS

There are approximately 3,000 active buyers (including collection law firms) of
non-performing credit card debt. They range from companies that buy very large
blocks of charge-offs at different age levels to small companies that buy in
face amounts of $300,000 to $10 million portfolios. Small collection law firms
buy as few as forty accounts at a time. They typically buy them for debtors in
the Counties in which they normally practice and simply file a law suite against
the debtors immediately (usually small claims court up to $5,000). They use the
intimidation of the law suit to force collection in part or in full. The cost of
filing fees and service of process can easily add up to $100 to the cost of the
individual account.

The major publicly traded debt buyers and collectors are all listed on Nasdaq
and include Asta Funding (ASFI), Asset Acceptance Capital Corp. (AACC), Encore
Capital Group (ECPG), First City Financial (FCFC) and Portfolio Recovery
Associates (PRAA). These companies use a combination of inside collectors,
outside collection agencies and attorneys in their collection process.

The buyers of larger portfolios now include more brokers, wholesalers and debt
resellers that do not participate in the collection process. These companies
will segment the portfolios by states or regions, age, number of accounts and
account size so the accounts in the purchased portfolio can be sold to smaller
buyers, which now make up a large percentage of buying market. Many of these
portfolios can be seen and acquired over the internet.

COMPETITION AND BUYING PATTERNS

The purchase of the large portfolios is usually by sealed bid. Some major buyers
do have certain credit card issuers tied up with forward purchase agreements.
However, now smaller portfolios are bought through negotiation with the seller,
rather than a sealed bid. All portfolios accounts can be reviewed by the buyer
prior to purchase. All portfolios are reviewed and scored for yield probability
before bidding. All of the accounts that a buyer has agreed to purchase are
scrubbed in order to eliminate accounts that are in bankruptcy or the creditor
is deceased.

MAIN COMPETITORS

There are over 3,000 debt buyers of varying size and capital capabilities that
buy credit card debt of small to medium portfolios. Because the Company intends
to negotiate with several debt sellers, the Company may not know who it is
competing

against. On the other hand, the large debt buyers are not competitors of the
Company, because the Company does not intend to buy large portfolios. However,
some of the large buyers that segment the portfolios that they purchase for
resale could be future providers of portfolios to the Company.

MARKET ANALYSIS

The concept of buying and selling bad debts is not new, but technology and
better management methods have changed the practice, making it more attractive
for the investor. This analysis will examine the fundamentals of this business
and some of the key issues that determine success or failure.

Businesses that generate consumer debt have always been faced with the problem
of delinquent accounts or charge-offs and write-offs and for years assigned
these accounts to collection agencies. These agencies collect a fee of
approximately 33% to 35% of the amount they collect. For the owner of the
"paper" though, this system has drawbacks. Although the costs are fixed, it may
take months or years to recover a portion of the debt.

The result has been that companies increasingly prefer to sell their debts
rather than assign it, and that has created opportunity for those skilled at
collection methods. In a typical purchase of bad debts, a block of accounts are
acquired at a very steep discount. The price might range from 1 cent to 10 cents
on the dollar, for instance. The new owner then collects as much as he can,
keeping all of the proceeds.

Since these accounts have usually been worked by someone else, it is vital that
the purchaser have a professional approach to the classification and management
of the accounts in order to maximize return. For instance, computers are now
used extensively to analyze the collect ability of accounts. The seller provides
to the buyer a database of accounts on tape, disk or email, which is then fed
into the buyer's computer. This, in turn, reads the files, producing a
statistical profile which management can evaluate, based on their experience
and knowledge of the industry.

The end result is that a value is assigned to the portfolio, representing the
likely ultimate collection possible. This enables the buyer to fix a price on
the accounts that will yield the desired profit. If the seller agrees, ownership
changes hands and the buyer begins to work the accounts.

The following table, published by "Inside ARM" on March 24, 2009, by Kaulkin and
Ginsberg, shows the rate decline ranges in portfolio pricing from 2008 to 2009
and the 2009 price predictions. The price ranges are based on confirmed
transactions

as well as anecdotal discussions with debt buyers and credit issuers.

Price Range Price Range Price 2009 Price
Jan. 2008 Jan. 2009 Decline Predictions

Fresh $.09 - $.12 $.055 - $.075 33% - 40% $.04 -$.06
Primary (Firsts) $.08 - $.08 $.035 - $.05 20% - 40% $.025 -$.04
Secondary (Seconds) $.03 - $.05 $.02 - $.03 20% - 33% $.015 -$.025
Tertiary (Thirds) $.0125- $.03 $.01 - $.02 20% - 33% $.0075-$.015
Quads $.005 - $.0125 $.004 - $.01 20% - 33% $.003-$.0075

In addition to the purely statistical exercise of establishing value, a buyer
must also consider a number of subjective factors before acquiring a portfolio.

* Age of debt. Generally, the older the debt, the more difficult it may be to
find the debtor.

* Source of debt. The underwriting standard of the original issuer has a bearing
on the ability to collect effectively.

* Proof of debt. The original documentation may be lost, but some form of proof
is preferable, but not always available.

* Location of debtor. Debtors who reside in areas where a high concentration of
homeowners are found are more desirable than those living in areas with high
turnover.

* History of work on the account. Accounts that have been extensively worked are
less likely to be profitable to a buyer.

A number of legal considerations attend the purchase of bad debts. These include
assurance of available documentation, representations that balances are correct,
identification of the debtors and the ability to return accounts to the seller
where debtors are found to be bankrupt, deceased or the account has been
satisfied by the debtor. The time period in which such accounts can be returned
is negotiable, usually 30 days after purchase.

The determination of which accounts to keep and which to sell, and at what
stage of development to sell, now becomes critical to the profitability of the
venture. Once a portfolio of accounts has been acquired, the accounts are
classified: those which will require a disproportionate amount of collection
effort are typically resold to collection agencies, attorneys and others at
below cost. Those which will return the greatest net proceeds are retained.

The next task is to work the accounts. Generally, this means contacting the
debtor by mail and by phone. Most of the accounts purchased will have been sold
because normal mail and phone contact has failed. This would be due to the
debtors having "skipped," because of incomplete data, or the fact that the
account has somehow deteriorated to the point that legal action or resale of the
account may be necessary.

Once the debtor has been contacted, the collection representative makes
arrangement for repayment of the debt. In many cases the reasons why the account
went into default have now been resolved. These include loss of job, divorce,
illness with extensive medical bills and over extension of credit. The task of
the collector is to use an approach that will be effective with the debtor, such
as:

* recognition of settlements and debt refinancing that may aid the debtor by
restoring credit.

* focusing on a relationship approach rather than strong arm tactics.

* capitalizing on the debtors improved circumstances that may allow the debtor
to apply for a credit to resolve prior debts.

ITEM 1A. RISK FACTORS

THE SHARES ARE HIGHLY SPECULATIVE, INVOLVE A HIGH DEGREE OF RISK AND SHOULD BE
PURCHASED ONLY BY PERSONS WHO CAN AFFORD TO LOSE THEIR ENTIRE INVESTMENT.
PROSPECTIVE INVESTORS IN THE SHARES SHOULD CAREFULLY CONSIDER THE FOLLOWING RISK
FACTORS IN ADDITION TO THE OTHER INFORMATION CONTAINED IN THIS REGISTRATION
STATEMENT.

Lack of Operating History.

New ventures are inherently more risky than seasoned operating ventures.
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 remained of the portfolio was then sold. These transactions are shown in
the statement of operation in Item 13 of this Registration Statement.

Development Stage Company.

Credex is a development stage company. The Company will be reliant upon
additional funding between $100,000 and $250,000 during the next twelve (12)
months to initiate its business as

set forth in its continuing strategic plan for growth. The Risk is that this
money may not be raised.

Uncertainty of Significant Assumptions.

The Company's plans for financing and implementing its planned business
operations and the projection of the Company's potential for profitability from
its intended operations are based on the experience, judgment and certain
assumptions of management and upon certain available information concerning
availability of non-performing credit card debt. Funds anticipated through
stock sales may not be realized. The Company's plans are based on the following
assumptions: That all or any shares in future offerings will be sold; that the
Company will be successful in adhering to its planned formula for growth; and
that sales will reach a minimum level to allow profitability.

Competition.

Competitors of the Company include traditional consumer debt buyers and sellers
such as Portfolio Recovery Associates, Collins Financial Services, Inc.,
Oliphant Financial Corp., US Credit Corp., and many other financial
institutions. Competitors have an advantage over the Company primarily due to
the fact that they have more funds to invest in portfolio purchases. These
competitors also have lengthy profitable operating histories.

Uncertainty of Adequacy of Financial Resources.

If the Company is unable to generate adequate operating income in a timely
fashion, it will be necessary to obtain additional financing to commence
significant current operations or to develop planned operations.

Dependence on Key Personnel.

The Company has been significantly dependent on the services of Cypress, Denise
Leonardo, Chairman, President/CEO and Steven G. Salmond, Treasurer/CFO and,
Secretary. In the future, the Company will be dependent upon their services and
outside consultants in distressed debt purchasing, managing and re-selling and
any future employees of the Company for the continued development of the
Company's services. The loss of services of senior management could have a
substantial adverse effect on the Company. The success of the Company's
business will be largely contingent on its ability to attract and retain highly
qualified corporate and operations level management team.

Potential Liability and Insurance.

As with all businesses operating in today's somewhat litigious

atmosphere, the Company's intended operations could expose it to a risk of
liability for legal damages arising out of its operations. The Company intends
to carry acceptable levels of liability insurance for its industry.

No Historical Basis for Management's Opinion.

Although all of the Company's Officers, Directors, and its management team have
experience in and have been involved in the daily operations of the Company,
there is no basis, other than the judgment of the Company's management, on which
to estimate, (i) the level of market acceptance or the amount of revenues which
the Company's planned operations may generate, or (ii) other aspects of the
Company's proposed operations.

No Trading History of Common Stock.

The Company's Common Shares have not been traded publicly. Recent history has
shown that the market price of Common Stock fluctuates substantially due to a
variety of factors, including market perception of a company's ability to
achieve its planned growth, quarterly operating results of the Company or other
similar companies, the trading volume in the Company's Common Stock, changes in
general conditions in the economy or other developments affecting the Company or
its competitors. In addition, the stock market is subject to extreme price and
volume fluctuations. Volatility has had a significant effect on the market
prices of securities issued by many companies for reasons unrelated to the
operating performance of these companies.

No Dividends.

No dividends have been paid on the Shares and the Company does not anticipate
the payment of cash dividends in the foreseeable future. If the operations of
the Company become profitable, it is anticipated that, for the foreseeable
future, any income received would be devoted to the Company's future operations
and that cash dividends would not be paid to the Company's Shareholders.
(See "Business - Dividend Policy.")

Lack of Management Experience

None of the officers or directors have any experience in management of a company
providing the services Credex proposes to offer.

Only Mr. Salmond, the company's CFO, has experience managing and operating a
public company. Failure to comply or adequately comply with any laws, rules,
or regulations applicable to our business may result in fines or regulatory
actions, which may materially adversely affect our business, results of
operation,

or financial condition and could result in delays in the development of an
active and liquid trading market for our stock.

Penny Stock Regulation.

The stock registered hereby are subject to "Penny Stock" regulations.
Broker-dealer practices in connection with transactions in "penny stock" are
regulated by certain penny stock rules adopted by the Commission. Penny stocks
generally are equity securities with a price of less than $5.00 (other than
securities registered on certain national securities exchanges or quoted on
Nasdaq provided that current price and volume information with respect to
transactions in such securities is provided by the exchange or systems) or to
other than establish customers or accredited investors. [In general, "accredited
investors" are defined as institutions with assets in excess of $5,000,000 or
individuals with net worth in excess of $1,000,000 or annual income exceeding
$200,000 or $300,000 with their spouses.]

The penny stock rules require a broker-dealer, prior to transaction in a penny
stock not otherwise exempt from the rules, to deliver a standardized disclosure
document that provided information about penny stocks and the risks in penny
stock market. The broker-dealer also must provide the customer with current bid
and offer quotations for the penny stock, the compensation of the broker-dealer
and its sales person in connection with the transaction, and monthly account
statements showing the market value of each penny stock held in the customer's
account. In addition, the penny stock rules generally require that prior to a
transaction in a penny stock, the broker-dealer must make a special written
determination that the penny stock is a suitable investment for the purchaser
and receive the purchaser's written agreement to the transaction. These
disclosure requirements may have the effect of reducing the level of trading
activity in the secondary market for a stock that becomes subject to the penny
stock rules. If the Company's securities become subject to the penny stock
rules, investors in the Offering may find it more difficult to sell their
securities.

ITEM 2. MANAGEMENT'S DICUSSION AND ANALYSIS OR PLAN OF OPERATION AND FINANCIAL
INFORMATION

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 filing.

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
operation in Item 13 of this Registration Statement. 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 begin
implementation of 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 yet operated pursuant to our business plan. We
have generated no revenue in 2009 or 2008 or the six months ended June 30, 2010
and 2009.

Development stage operating expenditures during the period from inception on
September 2, 2005 to June 30, 2010 were $66,936 which consisted primarily of
general and administrative expenses related to legal, accounting and other fees
related to our formation and this registration statement. Our net loss was
$2,930 and $8,353 for the six months ended June 30, 2010 and 2009, respectively,
and $15,015 and $7,001 for the years ended December 31, 2009 and 2008,
respectively cumulative income to date was $23,450 including finance income of
$15,417, consulting income of $8,000 and interested income of $33.

Liquidity and Capital Resources

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

At December 31, 2009 and 2008, we had total assets of $2,185 and $3,390,
respectively, consisting of cash.

At June 30, 2010, we had total assets of $2,105 consisting of cash.

At December 31, 2009 and 2008, our total liabilities were $2,500 and $3,000
respectively consisting primarily of accounts payable.

At June 30, 2010, we had total liabilities of $ 0.

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

Buy Portfolios
Begin Collections
Continue Collections

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
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 454 Treemont Drive, Orange City,
FL 32763. The telephone number is (386) 218-6823, and the fax number is
(386) 218-6823.

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

DISCLOSURE OF CONTRACTED OBLIGATIONS

Effective July 12, 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:

In exchange for these services, which the Company anticipates will last for a
six 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. Upon receipt
of the cash payment of $200,000, Cypress is to return the shares to the
Company's treasury.

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. According to Kaulkin Ginsberg Whitepaper:
Operational Efficiency in the ARM Industry dated October 2006, an example shown
of a debt buyer purchasing a $100 million portfolio face value of delinquent
receivables for 5 cents on the dollar would spend $5 million for the acquisition
of the portfolio. Collection of $15 million on the portfolio over the next 5
years shows a 3X return. Because the economy has declined from 2006, the
management of the Company believes 10% to 12% return of the face value of the
portfolios is a conservative position to have until full operations are attained
with experienced personnel. 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. PROPERTIES

From 2009 and the first 6 months of 2010 the company operated out of the
residence of the past President who is now deceased with no rents paid.

The Company now rents fully equipped office space at 454 Treemont Drive, Orange
City, FL 32763.

ITEM 4. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

The following table contains information as of the date of this filing as to the
beneficial ownership of shares of common Stock of the Company of each person
who was the beneficial owner of five (5%) percent or more of the outstanding
shares of the Company.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
______________________________________________________________________________
Title of Class Name and Address of Amount and Nature Percent
Beneficial Owner of Beneficial Owner
______________________________________________________________________________
Common stock Steven G. Salmond* 2,958,625 52.29%
454 Treemont Drive
Orange City, FL 32763

Common stock Janine Weller 350,000 6.19%
415 Macopin Road
West Milford, NJ 07480

Common stock Renay Bashaw Werman 350,000 6.19%
100 Highland Acres Drive
Dingmans Ferry, PA 18328

Common stock Denise Leonardo 300,000 5.30%
9266 Keating Drive
Palm Beach Gardens, FL 33410

Common stock Julie Ann Goodwin 253,100 4.47%
232 Trickey Pond Road
Naples, ME 04055

* Shares being held as security for management contract to Cypress Bend
Executive Services, LLC, which Mr. Salmond is a member.

The following table contains information as of the date of this filing as to
the beneficial ownership of shares of common stock

of the Company, as well as all persons as a group who were then officers and
directors of the Company.

SECURITY OWNERSHIP OF MANAGEMENT
______________________________________________________________________________
Title of Class Name and Address Amount Percent
______________________________________________________________________________

Common stock Steven G. Salmond 2,958,625 52.29%
454 Treemont Drive
Orange City, FL 32763

Common stock Denise Leonardo 300,000 5.30%
9266 Keating Drive
Palm Beach Gardens, FL 33410

Common stock Julie Ann Goodwin 253,100 4.47%
232 Trickey Pond Rd.
Naples, ME 04055

Common stock Janine Weller 350,000 6.19%
415 Macopin Road
West Milford, NJ 07480

Common stock Officers and Directors
as a group 3,861,725 68.25%

See also "Item 7 Certain Relationships and Related Transactions, and Director
Independence."

ITEM 5. DIRECTORS AND EXECUTIVE OFFICERS

Identification of Directors:

Position Held
Name Age with Company Elected
________________________________________________________________
Janine Weller 49 Director May 28, 2010
Denise Leonardo 48 Director October 24, 2007
Julie Ann Goodwin 49 Director May 28, 2010
Steven G. Salmond 61 Director August 21, 2010

Directors are elected by the shareholders at each annual meeting.

Identification of Officers:
Position Held
Name Age with Company Elected
________________________________________________________________

Denise Leonardo 48 President, CEO May 28, 2010*
Steven G. Salmond 61 Secretary and
Treasurer, CFO August 21, 2010

* Ms. Leonardo served as Treasurer, Chief Financial Officer and Director of the
Company from her appointment on October 24, 2007 until May 28, 2010 when she
was elected President. Her responsibilities included oversight over internal
controls, financial reporting and compliance with state and federal laws.

Officers of the Company serve at the will of the Board of Directors. Presently
the Company has no employment contract with any of its officers.

Brief biographies of the officers and directors of the Company are set forth
below. Each director holds office until the next annual meeting or until his
death, resignation, retirement, removal, disqualification or until a successor
has been elected and qualified. Vacancies in the existing board are filled by
a majority of the remaining directors.

None of the officers or directors hold directorships in any other Company.

Of the officers and directors only Mr. Salmond has any experience in management
of a public company.

Denise Leonardo, President - Ms. Leonardo served as Treasurer, Chief Financial
Officer and Director of the Company from her appointment on October 24, 2007
until May 28, 2010 when she was elected President. Her responsibilities included
oversight over internal controls, financial reporting and compliance with state
and federal laws.

Ms. Leonardo received the designation of CSOX (Certificate in Sarbanes-Oxley) in
December, 2006 from the SOX Institute of the Sarbanes-Oxley Group, Clifton, New
Jersey.

Ms. Leonardo has been the president of DL Consultants, Inc., Palm Beach, FL
from 2005 thru the present. She oversees all aspects of the business. The
Company provides direction to clients regarding the requirements of the
Sarbanes-Oxley Act of 2002 and aids clients in the way they communicate their
financial information by cultivating, edgarizing and filing SEC Form filings
and Private Placement Memorandum documents.

From 2003 thru 2005, Ms. Leonardo was employed with American Capital Holdings,
Inc. and IS Direct Agency, Palm Beach, FL. She assisted in the creation of ten
(10) public development stage companies and developed a human resource
department and financial department procedures. She implemented Sarbanes-Oxley
compliance and was responsible for compiling and formatting financial data into
SEC Form structure, edgarize and filing SEC documents.

She also created the insurance department at IS Direct Agency as a licensed
entity/producer and agent/producer in 39 and 48 states respectively. She was
also responsible for maintaining investor communications and relations.

From 1991 thru 2004, Ms. Leonardo owned and operated Leonardo Yacht Maintenance,
Palm Beach, FL. She developed a team to provide service for detailing and
maintenance of vessels throughout Palm Beach County, FL.

Ms. Leonardo was director of sales and service at Venus Interiors, Flagler
Beach, FL and sales rep at Sunflooring, Inc., Tampa, FL from 1981 thru 1991.
She was responsible for sales and service to the retail and wholesale markets.

Ms. Leonardo in 2006 was Sarbanes-Oxley Certified and attained from the State
of Florida, a Life, Health & Annuity Insurance License in 2005.

Ms. Leonardo attended Palm Beach Community College in 2005 for Financial
Accounting. From 2000 thru 2001, she attained an AS Degree in Computer
Programming and DB Design while being listed on the Dean's and president's List.

Julie Goodwin, Director - Since 1999 to present, Mrs. Goodwin studies stock
market and economic trends using technical chart analysis methods while
successfully trading in self-directed accounts.

She was employed in opening investment accounts with Charlestown Savings Bank,
Boston 1980. She married and relocated to Nova Scotia, Canada 1981.
Mrs. Goodwin co-owned and managed a lobster and boat building businesses from
1981 to 2000. Through home-schooling, she educated her four children utilizing
Montessori Methodology from 1985-2005.

Mrs. Goodwin graduated with honors from Malden High School, class of 1978, then,
majored in French and Education at University of Massachusetts, Amherst
1978-1980. Mrs. Goodwin Attended Centre International d'Etudes Francais in
Angers, France, Spring 1980.

Janine Weller, Director - Ms. Weller has been National Graphic Design Director
for Sonoco CorrFlex, from 2007 to present, operating from the Glen Rock, NJ
sales & design office. She is responsible for creative leadership and
development of graphic designers and 3D rendering specialists, focused on
creating innovative, best in class, award-winning solutions for customers in a
variety of industries.

Through successful development and implementation of best practices, she has
unified designers of different disciplines, training and geographic locations
across the US to work as a team, leveraging design resources to meet customer
expectations.

Ms. Weller joined Sonoco CorrFlex, the point-of-purchase merchandising display
division of Sonoco, a global manufacturer of industrial and consumer products
and provider of packaging services in 2003, as senior graphic designer.

Starting in 2000, Ms. Weller served as graphic designer at ADC. Purchased by
Alliance/Rock-Tenn in 2001, she was retained as senior graphic designer through
March 2003. Prior to 2000, Ms. Weller has continuously held a variety of
positions in the graphic design and advertising fields including in-house,
agency, studio and consulting.

Ms. Weller is a 1983 graduate of Pratt Institute with a B.F.A. degree with
honors in art direction.

Steven G. Salmond - Mr. Salmond has consulted small businesses on accounting
and related systems including setup of accounting system, transfer of accounting
records to new systems, and training of staff in the new systems. He has also
in the private sector of accounting performed accounts receivable, accounts
payable, payroll, general journal adjustments and prepared financial statements
for both publicly and privately held companies. Mr. Salmond has been Chief
Financial Officer ("CFO") in several public companies reporting under the 1934
Securities Act. Mr. Salmond was the CFO in Lincoln Floorplanning Company, Inc.
and consulted the CFO of United Park City Mines for its 1934 filings. Lincoln
was a small company with no continous operations. United Park was a New York
Stock Exchange company with real estate development operation until it was taken
private. He has managed personnel in accounting departments as well as work
under the management of accounting to perform the work to be completed.
Mr. Salmond has experience in oil and gas, timber harvesting, mining, real
estate development, water purification equipment manufacture and service,
computer software training, marketing, and health spas. Mr. Salmond was an
audit partner in a small accounting practice. He audited oil and gas, mining,
health spas, printing, fast food and startup companies.

Most of the audits were for publicly traded companies with some filing with the
U.S. Securities and Exchange Commission. He graduated with a B.S. Degree in
Accounting in 1975 from Weber State University located in Ogden, Utah.

[Intentionally left blank]

ITEM 6. EXECUTIVE COMPENSATION

Description Name (1) Name (2) Name (3) Name (4) Name (5) Name (6)
Name and Principal Janine Denise Julie Ann Steven G. James H. Richard
Position (a) Weller Leonardo Goodwin Salmond Bashaw R. Cook

Year (b) 2009 2009 2009 2009 2009 2009
Salary ($) (c) $ 0 $ 0 $ 0 $ 0 $6,200 $ 0
Bonus ($) (d) 0 0 0 0 0 0
Stock Awards ($) (e) 0 0 0 0 0 0
Option Awards ($) (f) 0 0 0 0 0 0
Non-equity Incentive
Plan Compensation ($)
(g) 0 0 0 0 0 0
Change in pension
value and Non-
Qualified deferred
compensation earnings
($) (h) 0 0 0 0 0 0
All other
compensation ($) (i) 0 0 0 0 0 0
Total ($) (j) $ 0 $ 0 $ 0 $ 0 $6,200 $ 0

Year (b) 6/30/2010 6/30/2010 6/30/2010 6/30/2010 6/30/2010 6/30/2010
Salary ($) (c) $ 0 $ 0 $ 0 $ 0 $2400 $ 0
Bonus ($) (d) 0 0 0 0 0 0
Stock Awards ($) (e) 0 0 0 0 0 0
Option Awards ($) (f) 0 0 0 0 0 0
Non-equity Incentive
Plan Compensation ($)
(g) 0 0 0 0 0 0
Change in pension
value and Non-
Qualified deferred
compensation earnings
($) (h) 0 0 0 0 0 0
All other
compensation ($) (i) 0 0 0 0 0 0
Total ($) (j) $ 0 $ 0 $ 0 $ 0 $2,400 $ 0

(1) Director from May 28, 2010
(2) President and Director (CEO) from May 28, 2010 and past
Secretary/Treasurer (CFO) from 2005 to May 28, 2010
(3) Director from May 28, 2010
(4) Secretary/Treasurer (CFO) and Director from August 21, 2010
(5) Past President and Director (CEO), died on May 15, 2010. President and
Director from 2005 to May 15, 2010 (Death Date)
(6) Past Secretary/Treasurer (CFO) from May 28, 2010 to August 21, 2010;
Director from 2005 to August 21, 2010

There was no compensation paid to Officers or Directors in 2008
(c) The named officer received payments in cash only

Future salaries of the officers and directors will be set by the Board of
Directors depending upon the financial condition of the company, and may
include bonuses, health insurance and other compensation as the Board of
Directors may award. Out-of-pocket expenses are defined as the monies expended
on behalf of the company while engaged in Company Business such as travel
expenses and items purchased for use by the Company.

ITEM 7. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

No officer or director is related to or has any relationship with any other
officer or director.

Credex has entered into a management contract with Cypress. This contract
provides that Cypress will provide operational support to Credex and to take
Credex Public through Form 10 and S-1 filings with the Securities and Exchange
Commission. Cypress will return the shares it owns to Treasury Stock upon
completion of its contract obligations and receiving payment in full for its
services. Cypress is a Nevada, LLC with three members. It was formed on
July 7, 2010. Cypress has a business plan to provide services similar to those
provided to Credex. Credex is Cypress's first client.

The Company has entered into subscription agreements to sell its stock as shown
in Item 10.

Each purchaser of stock pursuant to the Private Placement Memorandum signed a
subscription agreement. All of these subscription agreements are the same. A
specimen is attached as Exhibit 10.2.

ITEM 8. 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 9. MARKET PRICE OF AND DIVIDENDS ON, THE REGISTRANT'S COMMON EQUITY AND
RELATED STOCKHOLDER MATTERS.

Glendale Securities of Sherman Oaks, California has agreed with the Company to
seek permission to quote the Company's stock on the Over-the-Counter Bulletin
Board or the Pink Quotation Bulletin Board. The Bulletin Board interdealer
systems both require current information on file with the SEC. They also
provide somewhat real time information as to trades in quoted securities. The
Pink Sheets do not require current information to be on file and the current
tracking of trades in less than real time.

Once a market exists for the Company's stock the Company will determine what
steps need to be taken to raise the equity capital needed to implement the
corporate business plan.

The common stock has not traded on any market and has no market value, but
Management believes the Company's shares should begin to do so after this Form
10 and an S-1 are filed and become effective. Management believes that there
will be a market for the common stock of the Company on the over-the-counter
market.

We intend to have our stock quoted on the Over the Counter Bulletin Board, a
FINRA sponsored and operated inter dealer automated quotation system or quoted
by the Pink Quotation System. Quotation of our securities on the Over the
Counter Bulletin Board will limit the liquidity and price of our securities
more than if the securities were listed on an exchange.

No dividends have been paid on the Shares and the Company does not anticipate
the payment of cash dividends in the foreseeable future. If the operations of
the Company become profitable, it is anticipated that, for the foreseeable
future, any income received there from would be devoted to the Company's future
operations and that cash dividends would not be paid to the Company's
Shareholders.

ITEM 10. RECENT SALES OF UNREGISTERED STOCK

The authorized equity of Credex Corporation consists of 100 million Shares,
$.001 par value per share, of which 3,833,000 Shares are issued and outstanding
to officers and directors for cash and services rendered from inception
(September 2, 2005) through June 30, 2010.

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 $0.001 $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
5,658,000 $58,591 $0 $200,000

*Stock issued as part of a service agreement for future services with Cypress
Bend Executive Services, LLC.

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

ITEM 11. DESCRIPTION OF REGISTRANT'S SECURITIES TO BE REGISTERED

The Company is authorized to issue One Hundred Million (100,000,000) shares of
Common Stock (the Common Stock) of Par Value of ($0.001). As of
September 30, 2010 the Company had 5,658,000 shares of Common Stock issued and
outstanding. Holders of Common Stock are each entitled to cast one vote for each
Share held of record on all matters presented to shareholders. Cumulative
voting is not allowed; hence, the holders of a majority of the outstanding
Common Stock can elect all directors. Holders of Common Stock are entitled to
receive such dividends as may be declared by the Board of Directors out of funds
legally available therefore and, in the event of liquidation, to share pro-rata
in any distribution of the Company's assets after payment of liabilities. The
Board of Directors is not obligated to declare a dividend and it is not
anticipated that dividends will be paid unless and until the Company is
profitable. Holders of Common Stock do not have preemptive rights to subscribe
to additional shares if issued by the Company. There are no conversions,
redemption, sinking fund or similar provisions regarding the Common Stock. All
of the outstanding Shares of Common Stock are fully paid and non-assessable.

No personal liability attaches to shareholders by reason of the ownership of
such shares.

Holders of Shares of Common Stock will have full rights to vote on all matters
brought before shareholders for their approval. We are not currently authorized
to issue preferred stock and have no intention of amending our corporate
documents to authorize preferred stock. Holders of the Common Stock will be
entitled to receive dividends, if and as declared by the Board of Directors,
out of funds legally available, and share pro-rata in any distributions to
holders of Common Stock upon liquidation.

Upon any liquidation, dissolution or winding-up of Credex, our assets, after the
payment of debts and liabilities and any liquidation preferences of, and unpaid
dividends on, any class of preferred stock then outstanding, will be distributed
pro-rata to the holders of the common stock. The holders of the common stock
have no right to require us to redeem or purchase their shares.

Preferred Stock

The Company does not have any authorized shares of Preferred Stock.

Voting Rights

Holders of the Company's Common Stock are entitled to one vote per Share for
each Common Share held of record by Company shareholders.

No Cumulative Voting

Holders of shares of our common stock do not have cumulative voting rights,
which means that the holders of more than 50% of the outstanding shares, voting
for the election of directors, can elect all of the directors to be elected, if
they so choose, and, in that event, the holders of the remaining shares will not
be able to elect any of our directors.

Dividend Policy

Credex has never paid a dividend.

The Company does not currently intend to declare or pay any dividends on its
Common Stock, except to the extent that such payment is consistent with the
Company's overall financial condition and plans for growth. For the foreseeable
future, the Company intends to retain excess future earnings, if any, to support
development and growth of its business. Any future determination to declare and
pay dividends will be at the

discretion of the Company's Board of Directors and will be dependent on the
Company's financial condition, results of operations, cash requirements, plans
for expansion, legal limitations, contractual restrictions and other factors
deemed relevant by the Board of Directors.

Transfer Agent

We have selected Globex Transfer, LLC, 780 Deltona Blvd., Suite 202, Deltona,
FL 32725 as our transfer agent.

Shares Eligible For Future Sale

The Securities currently are "restricted securities" as that term is defined in
SEC Rule 144 of the 1933 Securities Act ("Rule 144"), and may not be resold
without registration under the Securities Act. Provided certain requirements are
met, the Shares of Common Stock purchased hereunder may be resold pursuant to
Rule 144 or may be resold pursuant to another exemption from the registration
requirement.

Generally, Rule 144 provides that a holder of restricted shares of an issuer
which maintains certain available public information, where such shares are held
6 months or more, may sell in every three months the greater of: (a) an amount
equal to one percent of the Company's outstanding shares; or (b) an amount equal
to the average weekly volume of trading in such securities during the preceding
four calendar weeks prior to the sale. Persons who are not affiliates of the
Company may sell shares beneficially owned for at least one year at the time of
the proposed sale without regard to volume restrictions. There is no existing
public or other market for the Shares. Any such market may never develop.

ITEM 12. INDEMNIFICATION OF DIRECTORS AND OFFICERS

There is no statute, charter provision, by-law, contract or other arrangement
under which any controlling person, director or officer of the registrant is
insured or indemnified in any manner against liability which he may incur in his
capacity as such, other than Florida Statute 607.0850. This statue allows the
Company to Indemnify Officers and Directors in the case of good faith errors.

SECURITIES AND EXCHANGE COMMISSION INDEMNIFICATION DISCLOSURE

Insofar as indemnification for liabilities arising under the Securities Act of
1933 may be permitted to directors, officers or persons controlling the
registrant pursuant to the foregoing provisions, the registrant has been
informed that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Act and is
therefore unenforceable.

[Intentionally left blank]

ITEM 13. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

Table of Contents

FINANCIAL STATEMENTS

Report of Independent Registered Certified Public Accounting Firm 33

Balance Sheets 34

Statements of Operations 35

Statement of Stockholders' Equity (Deficit) 36

Statements of Cash Flows 37

Notes to Financial Statements 38

REPORT OF INDEPENDENT REGISTERED
CERTIFIED PUBLIC ACCOUNTING FIRM

To the Board of Directors
Credex Corporation
Orange City, Florida

We have audited the accompanying balance sheets of Credex Corporation (a
development stage company) as of December 31, 2009 and 2008, and the related
statements of operations, stockholders' equity (deficit), and cash flows for
the years then ended and for the period from inception, September 2, 2005, to
December 31, 2009. These financial statements are the responsibility of the
Company's management. Our responsibility is to express an opinion on these
financial statements based on our audits.

We conducted our audits in accordance with generally accepted auditing
standards as established by the Auditing Standards Board (United States) and in
accordance with the auditing standards of the Public Company Accounting
Oversight Board (United States). Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. The Company is not required to
have, nor were we engaged to perform, an audit of its internal control over
financial reporting. Our audit included consideration of internal control over
financial reporting as a basis for designing audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the Company's internal control over financial
reporting. Accordingly, we express no such opinion. An audit also includes
examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements, assessing the accounting principles used and
significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the financial position of Credex Corporation as of
December 31, 2009 and 2008, and the results of its operations and its cash
flows for the years then ended and for the period from inception,
September 2, 2005, to December 31, 2009 in conformity with accounting
principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming that the
Company will continue as a going concern. As discussed in Note D to the
financial statements, the Company is in the development stage and has suffered
recurring losses from operations. These conditions raise substantial doubt
about its ability to continue as a going concern. Management's plans regarding
those matters are also described in Note D. The financial statements do not
include any adjustments that might result from the outcome of this uncertainty.

/s/ Moss, Krusick & Associates, LLC
October 6, 2010
Winter Park, Florida

Credex Corporation
(A Development Stage Company)

BALANCE SHEETS

June 30, 2010, and December 31, 2009 and 2008

ASSETS

June 30, December 31,
____________
2010 2009 2008
____ ____ ____
(Unaudited)
CURRENT ASSETS:
Cash $ 2,105 $ 2,185 $ 3,390
__________ __________ _________
Total Assets $ 2,105 $ 2,185 $ 3,390
'''''''''' '''''''''' '''''''''

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES:
Accounts payable $ 0 $ 2,500 $ 3,000
__________ _________ _________
Total Current Liabilities 0 2,500 3,000
__________ _________ _________

STOCKHOLDERS' EQUITY (DEFICIT):
Common stock, $0.001 par value; 100,000,000
authorized shares, 3,833,000, 3,565,500
and 2,850,000 shares issued and
outstanding at June 30, 2010, and
December 31, 2009 and 2008, respectively 3,833 3,565 2,850
Additional paid in capital 41,758 36,676 23,081
Accumulated deficit during the
development stage (43,486) (40,556) (25,541)
_________ _________ _________
Total Stockholders' Equity (Deficit) 2,105 (315) 390
_________ _________ _________
Total Liabilities and Stockholders'
Equity (Deficit) $ 2,105 $ 2,185 $ 3,390
''''''''' ''''''''' '''''''''

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

Credex Corporation
(A Development Stage Company)

STATEMENTS OF OPERATIONS

For the Periods from Inception, September 2, 2005, to June 30, 2010

Six Months Ended Years Ended
June 30, December 31 Cumulative
__________ ___________ from Inception to
2010 2009 2009 2008 June 30, 2010
______________ _____________ _____________
(Unaudited) (Unaudited) (Unaudited)
REVENUE:
Finance income $ 0 $ 0 $ 0 $ 0 $ 15,417
Consulting income 0 0 0 0 8,000
_________ ________ ________ ________ ________
Total Revenue 0 0 0 0 23,417
_________ ________ ________ ________ ________
EXPENSES:
Travel 0 0 2,050 675 6,882
Office expenses 530 203 1,765 658 6,571
Telephone 0 0 0 0 2,322
Professional fees
(see Note E) 2,400 8,150 11,200 5,274 27,698
Advertising 0 0 0 0 350
Portfolio purchase 0 0 0 0 21,000
Seminar 0 0 0 0 1,585
Rent 0 0 0 396 528
_________ ________ _________ ________ ________
Total Expenses 2,930 8,353 15,015 7,003 66,936
_________ ________ _________ ________ ________

Operating Loss (2,930) (8,353) (15,015) (7,003) (43,519)
_________ ________ _________ ________ ________
OTHER INCOME:
Interest income -0- -0- -0- 2 33
_________ ________ _________ ________ ________
Net loss before
income taxes (2,930) (8,353) (15,015) (7,001) (43,486)

INCOME TAXES -0- -0- -0- -0- -0-

Net Loss $ (2,930) $(8,353) $(15,015) $(7,001) $(43,486)
''''''''' '''''''' ''''''''' '''''''' ''''''''
Basic net loss per
share $ (0.001) $(0.003) $ (0.005) $(0.003)
''''''''' '''''''' ''''''''' ''''''''

Weighted average number of
shares outstanding 3,698,750 3,063,261 3,143,373 2,589,246
''''''''' ''''''''' ''''''''' '''''''''

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

Credex Corporation
(A Development Stage Company)

STATEMENT OF STOCKHOLDER'S EQUITY (DEFICIT)

For the Periods from Inception, September 2, 2005, to June 30, 2010
<Table>
<Caption>
Additional Development Total
Common Stock Paid-in Stage Stockholders'
Shares Amount Capital Deficit Equity
______ _______ _______ _______ _______
<s> <c> <c> <c> <c> <c>
September 2, 2005, Date of
Incorporation -0- $ -0- $ -0- $ -0- $ -0-
September 2005 - shares
Purchased for cash at
$0.001 per share 10,000 10 990 -0- 1,000
Net loss for period ended
December 31, 2005 -0- -0- -0- (8,397) (8,397)
_______ ______ _______ _______ _______
Balances - December 31, 2005 10,000 10 990 (8,397) (7,397)

Net loss for period ended
December 31, 2006 -0- -0- -0- (8,056) (8,056)
_______ ______ _______ _______ _______
Balances - December 31, 2006 10,000 10 990 (16,453) (15,453)

October 2007 - stockholder loan
used to purchase shares
at $0.0072 per share 2,490,000 2,490 15,441 -0- 17,931
Net loss for period ended
December 31, 2007 -0- -0- -0- (2,087) (2,087)
Balances - December 31, _______ ______ _______ _______ _______
2007 2,500,000 2,500 16,431 (18,540) 391

Year 2008 - shares issued for
cash at $0.02 per share 350,000 350 6,650 -0- 7,000
Net loss for period ended
December 31, 2008 -0- -0- -0- (7,001) (7,001)
Balances - December 31, _______ ______ _______ _______ _______
2008 2,850,000 2,850 23,081 (25,541) 390

Year 2009 - shares issued for
cash at $0.02 per share 715,500 715 13,595 -0- 14,310
Net loss for period ended
December 31, 2009 -0- -0- -0- (15,015) (15,015)
Balances - December 31, _______ ______ _______ _______ _______
2009 3,565,500 3,565 36,676 (40,556) (315)

Six months 2010 - shares issued
for cash at $0.02 per share
(unaudited) 267,500 268 5,082 -0- 5,350
Net loss for period ended
June 30, 2010 (unaudited) -0- -0- -0- (2,930) (2,930)
Balances - June 30, 2010 _______ ______ _______ _______ _______
(unaudited) 3,833,000 $3,833 $ 41,758 $(43,486) $ 2,105
''''''' '''''' ''''''' ''''''' '''''''

The accompanying notes are an integral part of these financial statements.
</Table>

Credex Corporation
(A Development Stage Company)

STATEMENTS OF CASH FLOWS

For the Periods from Inception, September 2, 2005, to June 30, 2010
<Table>
<Caption>

Six Months Ended Years Ended Cumulative from
June 30, December 31, Inception to
__________ _____________
2010 2009 2009 2008 June 30, 2010
____ ____ ____ ____ ______________
(Unaudited) (Unaudited) (Unaudited)
<s> <c> <c> <c> <c> <c>
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss $(2,930) $(8,353) $(15,015) $ (7,001) $(43,486)
Adjustments to reconcile net loss to net cash
Used by operations:
Decrease in security deposits -0- -0- -0- 198 -0-
Increase (decrease) in accounts
Payable (2,500) 5,000 (500) 3,000 -0-
_______ ________ _________ _________ _________
Net Cash Used by Operating
Activities (5,430) (3,353) (15,515) (3,803) (43,486)
_______ ________ _________ _________ _________
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from stockholder loan -0- -0- -0- -0- 46,828
Repayment of stockholder loan -0- -0- -0- (1,000) (28,897)
Sale of common stock 5,350 8,400 14,310 7,000 27,660
_______ ________ _________ _________ _________
Net Cash Provided by Financing
Activities 5,350 8,400 14,310 6,000 45,591
_______ ________ _________ _________ _________
Net Increase (Decrease) in Cash (80) 5,047 (1,205) 2,197 2,105

Cash and Equivalents,
Beginning of Period 2,185 3,390 3,390 1,193 -0-
_______ ________ _________ _________ _________
Cash and Equivalents,
End of Period $ 2,105 $ 8,437 $ 2,185 $ 3,390 $ 2,105
'''''''' '''''''' ''''''''' ''''''''' '''''''''
SUPPLEMENTAL CASH FLOW INFORMATION:
Cash paid for interest $ -0- $ -0- $ -0- $ -0- $ -0-
'''''''' '''''''' ''''''''' ''''''''' '''''''''
Cash paid for income taxes $ -0- $ -0- $ -0- $ -0- $ -0-
'''''''' '''''''' ''''''''' ''''''''' '''''''''
SIGNIFICANT NON-CASH ACTIVITIES:
Stockholder loan contributed to
Capital for Common stock $ -0- $ -0- $ -0- $ -0- $17,931
'''''''' '''''''' ''''''''' ''''''''' '''''''''

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

</Table>

Credex Corporation
(A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS

June 30, 2010 (Unaudited) and December 31, 2009 and 2008

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 Orange City,
Florida.

2. 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 stockholder's equity
(deficit) are presented on a cumulative basis from inception.

3. 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.

4. 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.

Credex Corporation
(A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS

June 30, 2010 (Unaudited) and December 31, 2009 and 2008

NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

5. 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.

6. Advertising

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

7. Concentrations of Credit Risk

The Company maintains its cash in a bank deposit account in a bank which
participates in the Federal Deposit Insurance Corporation (FDIC) Transaction
Account Guarantee Program, which provides separate FDIC coverage on the full
balance of personal and non-personal checking accounts, so long as they are not
interest-bearing. Under that program, through June 30, 2010, all non-interest
bearing accounts were fully guaranteed by the FDIC for the full balance in the
account. Coverage is in addition to and separate from the $250,000 coverage
available under FDIC's general deposit insurance rules. After December 31, 2013
balances up to $100,000 will be insured. As of June 30, 2010 (unaudited) and
December 31, 2009 and 2008, the Company had no balances in excess of federally
insured limits.

8. 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.

9. 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.

Credex Corporation
(A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS

June 30, 2010 (Unaudited) and December 31, 2009 and 2008

NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continue)

9. Income Taxes (continued)

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.

10. 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.

Credex Corporation
(A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS

June 30, 2010 (Unaudited) and December 31, 2009 and 2008

NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

11. Reclassifications

Certain amounts in prior year financial statements have been reclassified to
conform to current year presentation.

12. Recent Accounting Pronouncements Impacting Company

Effective October 15, 2009, the Company adopted the Financial Accounting
Standards Board ("FASB") new Accounting Standard Codification ("ASC" or
"Codification") as the single source of authoritative accounting guidance under
the Generally Accepted Accounting Principles Topic. The ASC does not create new
accounting and reporting guidance, rather it reorganizes U.S. GAAP
pronouncements into approximately 90 topics within a consistent structure. All
guidance in the ASC carries an equal level of authority. Relevant portions of
authoritative content, issued by the U.S. Securities and Exchange Commission
("SEC") for SEC reporting entities, have been included in the ASC. After the
effective date of the Codification, all non-grandfathered, non-SEC accounting
literature not included in the ASC was superseded and deemed non-authoritative.
Adoption of the Codification also changed how the U.S. GAAP is referenced in
financial statements.

In June 2009, the FASB issued SFAS 166, "Accounting for Transfers of Financial
Assets" an amendment of SFAS 140 (FASB ASC Topic 860-10). SFAS 166 is intended
to improve the relevance, representational faithfulness, and comparability of
the information that a reporting entity provides in its financial statements
about a transfer of financial assets: the effects of a transfer on its
financial position, financial performance, and cash flows: and a transferor's
continuing involvement, if any, in transferred financial assets. This statement
must be applied as of the beginning of each reporting entity's first annual
reporting period that begins after November 15, 2009. The adoption of SFAS 166
did not have an impact on the Company's financial statements.

Effective June 15, 2009, the Company adopted new guidance to the Subsequent
Events - ASC Topic 855. The Subsequent Events Topic establishes general
standards of accounting for and disclosure of events that occur after the
balance sheet date but before financial statements are issued or are available
to be issued.

Credex Corporation
(A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS

June 30, 2010 (Unaudited) and December 31, 2009 and 2008

NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

12. Recent Accounting Pronouncements Impacting Company (continued)

In particular, the Subsequent Events Topic sets forth the period after the
balance sheet date during which management of an SEC reporting entity should
evaluate events or transactions that may occur for potential recognition or
disclosure in the financial statements, the circumstances under which an entity
should recognize events or transactions occurring after the balance sheet date
of its financial statements, and the disclosures that an entity should make
about events or transactions that occurred after the balance sheet date.
Entities are required to disclose the date through which subsequent events were
evaluated as well as the date the financial statements were issued or available
to be issued. Adoption of this guidance did not have any impact on the
financial statements presented.

NOTE B - STOCKHOLDER'S EQUITY

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 currently has thirty stockholders of record as of June 30, 2010. As
of June 30, 2010, the outstanding shares were 3,833,000. Share transactions
subsequent to June 30, 2010, resulted in a increase in shares outstanding of
1,825,000 shares as follows:

Shares issued for cash at $0.04 per share 325,000
Shares issued to Cypress Bend Executive
Services, LLC ("Cypress") 1,500,000
_________
1,825,000
'''''''''

Credex Corporation
(A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS

June 30, 2010 (Unaudited) and December 31, 2009 and 2008

NOTE B - STOCKHOLDER'S EQUITY (Continued)

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 at which time it will return these shares.

NOTE C - 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 2030.

Credex Corporation
(A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS

June 30, 2010 (Unaudited) and December 31, 2009 and 2008

NOTE C - INCOME TAXES (continued)

The Company's deferred tax assets as of June 30, 2010 and December 31, 2009 and
2008 are as follows:
June 30, December 31,
2010 2009 2008
__________ ______ ______
(Unaudited)
Deferred tax asset $ 16,400 $ 15,300 $ 9,600
Valuation allowance (16,400) (15,300) (9,600)
__________ __________ _________
Net Deferred Tax Asset $ 0 $ 0 $ 0
'''''''''' '''''''''' '''''''''
NOTE D - 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 $43,486 (unaudited) since inception which raises substantial doubt about its
ability to continue as a going concern. 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 E - RELATED PARTY

A past shareholder of the Company had received fees for service in the six
months ended June 30, 2010, and the years ended December 31, 2009 and 2008 in
the amount of $2,400, $6,200, and $0, respectively.

Effective July 12, 2010, the Company entered into a agreement for services with
Cypress, a related party, whereby Cypress acts as consultant to:

Credex Corporation
(A Development Stage Company)

NOTES TO FINANCIAL STATEMENTS

June 30, 2010 (Unaudited) and December 31, 2009 and 2008

NOTE E - RELATED PARTY (Continued)

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

In exchange for these services, which the Company anticipates will last for a
six 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. Upon receipt
of the cash payment of $200,000, Cypress is to return the shares to the
Company's treasury.

NOTE F - SUBSEQUENT EVENTS

The Company has evaluated the effect subsequent events would have on the
financial statements through the time these financial statements were available
to be issued on October 6, 2010.

[Intentionally left blank]

ITEM 14. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURES

There are none.

ITEM 15. FINANCIAL STATEMENTS AND EXHIBITS

(a) The following financial statements are filed as part of this Form 10
Registration Statement: Audited financial statements for the years ended
December 31, 2008 and 2009 ; unaudited financial statements for the six months
ended June 30, 2009 and 2010 and from inception [September 2, 2005] through
June 30, 2010.

(b) Exhibits

EXHIBIT NUMBER DESCRIPTION

3.(i) Restated Articles of Incorporation
3.(ii) By-Laws
10.1 Agreement for Services
10.2 Subscription Agreement for Credex

SIGNATURES

Pursuant to the requirements of Section 12 of the Securities Exchange Act
of 1934, the registrant has duly caused this registration statement to be
signed on its behalf by the undersigned, thereunto duly authorized.

Credex Corporation

By: /s/ Denise Leonardo Date: November 15, 2010
_________________________
Denise Leonardo,
Chief Executive Officer

Exhibit -3.(i)
RESTATED
ARTICLES OF INCORPORATION
OF
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 33410

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.

/s/ Steven G. Salmond (SEAL)
________________________________
Steven G. Salmond

State of Florida )
County of Volusia )

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 CORPORATION

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

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.

Exhibit 10.1

AGREEMENT FOR SERVICES

AGREEMENT made and entered into as of this 9th day of July, 2010 (the
"Agreement"), by and between Credex Corporation (the "Client") and /Cypress
Bend Executive Services, LLC ("Consultant").

Whereas, the Consultant is in the business of providing advice, management,
fund raising and legal services and the Client believes such experience is in
its best interest to utilize, and

Whereas, the Company formally desires to engage Consultant to provide such
services in accordance with the terms and conditions hereinafter set forth;

Now, therefore, the Client and Consultant agree as follows:

1. Engagement. The Company agrees to engage Consultant and Consultant
agrees to:

A. Raise the necessary money to fund the cost of Credex's business operation
short term;
B. Prepare and file the necessary paperwork with the SEC to take Credex
public (Form 10, S-1 and 10Qs as necessary;
C. Secure a transfer agent and market maker broker-dealer for Credex's
stock;
D. Secure the audits necessary to go public and
E. Run the day to day operation of Credex short term.

2. Compensation.

A. The Client shall pay the Consultant $200,000 for its services. Cypress
Bend will receive a majority of the outstanding stock in Credex. Payment
for Cypress Bend's services will not be based on the stock they own but
rather the flat fee so as not to dilute the ownership interest of the
current shareholders. When Consultant's services are completed and
Consultant is paid in full Consultant will convey its stock holdings to
whomever the Client directs. If the Agreement is terminated Consultant
will return all of its stock to the Client's treasury except that
Mr. Cook's stock shall be returned to him. The fee paid to Consultant
shall also constitute any payment that may be due to Richard R. Cook.

B. All normal operational expenses of the Client will be the Client's
responsibility.

3. Best Efforts Basis. Subject to Section 4 and the last sentence of Section 3
hereof, Consultant agrees that it will at all times faithfully and to the best
of its experience, ability and talents perform all the duties that may be
required of it pursuant to the terms of this Agreement. The Client specifically
acknowledges and agrees, however, that the services to be rendered by Consultant
shall be conducted on a "best efforts" basis and has not, cannot and does not
guarantee that its efforts will have any impact on the Clients business or that
any subsequent financial improvement will result from its efforts.

4. Non Exclusive Services. The Client understands that Consultant is currently
providing certain advisory and other services to other individuals and entities
and agrees that Consultant is not prevented or barred from rendering services of
the same nature or a similar nature to any other individuals or entities and
acknowledges that such Services may from time to time conflict with the timing
of and the rendering of Consultant's services. In addition, Consultant
understands and agrees that the Client shall not be prevented or barred from
retaining other persons or entities to provide services of the same or similar
nature as those provided by Consultant.

5. Liability of Consultant. In furnishing the Client with advice and other
services as herein provided, Consultant shall not be liable to the Client or its
creditors for errors of judgment or for anything except malfeasance or gross
negligence in the performance of its duties or reckless disregard of the
obligations and duties under the terms of this Agreement.

6. Confidentiality. Until such time as the same may become publicly known,
Consultant agrees that any information provided it by the Client, of a
confidential nature will not be revealed or disclosed to any person or entities,
except in the performance of this Agreement, and upon completion of the term of
this Agreement and upon the written request of the Client, any original
documentation provided by the Client will be returned to it. Consultant will,
where it deems necessary, require confidentiality agreements from any associated
persons where it reasonably believes they will come in contact with confidential
material.

7. Notice. All notices, requests, demands and other communications provided
for by this Agreement shall, where practical, be m writing and shall be deemed
to have been given when mailed at any general or branch United States Post
office enclosed in a certified post paid envelope and addressed to the address
of the respective party. Any notice of change of address shall only be effective
however, when received.

8. Successors and Assigns. This Agreement shall inure to the benefit of and
be binding upon the Client, its successors, and assigns, including, without
limitation, any corporation which may acquire all or substantially all of the
Company's assets and business or into which the Company may be consolidated or
merged and Consultant and its successors and assigns.

Consultant agrees that it will not sell, assign, transfer, convey, pledge or
encumber this Agreement or its right, title or interest herein, without the
prior written consent of the Client, this Agreement being intended to secure the
personal services of Consultant.

9. Termination. Consultant agrees that the Client may terminate this Agreement
at any time providing prior written notice of termination to Consultant. Any
notice of termination shall only be effective however, when received. See
section 2.A.

10. Time For Performance. Consultant shall attempt to complete its work for
Client within nine months from the date of execution of this agreement. The
Consultant will attempt to finish its work in six months if possible.

The Client agrees that the Consultant may terminate this Agreement at any time
providing prior written notice of termination to the Client. Any notice of
termination shall only be effective however, when received. See section 2.A.

10. Applicable Law. This Agreement shall be deemed to be a contract made under
the laws of the State of Florida, and for all purposes shall be construed in
accordance with the laws of said state. The Client:

(i) agrees that any legal suit, action or proceeding arising out of or
relating to this Agreement shall be instituted exclusively in
Florida, County of Volusia.

(ii) waives any objection which the Client may have now or hereafter to
the venue of any such suit, action, or proceeding, and
(iii) gives irrevocable consent to the jurisdiction of the Circuit,
County of Volusia, in any such suit, action or proceeding.

11. Other Agreements. This Agreement supersedes all prior understandings and
agreements between the parties It may not be amended orally, but only by a
writing signed by the parties hereto.

12. Non Waiver. No delay or failure by either party in exercising any right
under this Agreement, and no partial or single exercise of that right shall
constitutes a waiver of that or any other right.

13. Heading. Headings in this Agreement are for convenience only and shall not
be used to interpret or construe its provisions.

14. Counterparts. This Agreement may be executed in two or more counterparts,
each of which shaI1 be deemed an original but all of which together shall
constitute one and the same instrument.

In Witness Whereof, the parties hereto have executed this Agreement the day and
year first above written.

Client Consultant

By: /s/ Denise Leonardo By: /s/ Timothy L. Kuker
_________________________ ___________________________
Denise Leonardo TIMOTHY L. KUKER
President Managing Member

Exhibit 10.2
SUBSCRIPTION AGREEMENT
IN
Credex Corporation

Ms. Denise Leonardo, CEO
Credex Corporation
454 Treemont Drive
Orange City, FL 32763

1. SUBSCRIPTION. The undersigned (often referred to individually as "Purchaser"
or "Shareholder") hereby makes application to become an investor in Credex
Corporation, a Florida Corporation ("Company"), and to purchase Shares. This
subscription may be rejected by the Company in its sole discretion.

2. ACCEPTANCE OF SUBSCRIPTION. It is understood and agreed that the Company
shall have the right, at any time prior to receipt of notice of cancellation
from the undersigned to accept or reject this Subscription Agreement, in whole
or in part, and that the same shall be deemed to be accepted by the Company only
when it is signed by the president.

3. REPRESENTATIONS BY THE UNDERSIGNED. The undersigned represents and warrants
as follows:

a. The undersigned is purchasing the Shares after being furnished a Private
Placement Memorandum.
b. The undersigned recognizes that the shares of Common Stock have not been
registered under the Securities Act of 1933, as amended ("Act"), nor
under the securities laws of any state and, therefore, cannot be resold
unless registered under the Act or unless an exemption from registration
is available; no public agency has passed upon the fairness of the terms
of the offering; the undersigned may not sell the shares without
registering them under the Act and any applicable state securities laws
unless exemptions from such registration requirements are available with
respect to any such sale;
c. The undersigned is acquiring the Shares for his own account for
long-term investment and not with a view toward resale,
fractionalization or division, or distribution thereof, and he does not
presently have any reason to anticipate any change in his circumstances,
financial or otherwise, or

particular occasion or event which would necessitate or require his sale
or distribution of the shares. No one other than the undersigned has any
beneficial interest in said securities;

d. The undersigned understands and acknowledges that the undersigned
has no right to require registration of resale of the securities
purchased hereby under the Act or under any state securities laws.

e. I alone or with my purchaser representative have such knowledge and
experience in financial and business matters that I am capable of
evaluating the merits and risks of the prospective investment, or the
issuer reasonably believes immediately prior to making any sale that
such purchaser comes within this description or subparagraph f applies.

f. The undersigned is an Accredited Investor. An Accredited Investor shall
mean any person who comes within any of the following categories, or who
the Company reasonably believes comes within any of the following
categories, at the time of the sale of the securities to that person:

1. Any bank as defined in section 3(a)(2) of the Act or savings and
loan association or other institution as defined in
Section 3(a)(S)(A) of the Act whether acting in an individual or
fiduciary capacity; brokers and dealers registered under Section 15
of the Securities Exchange Act of 1934; an insurance company as
defined in section 2(13) of the act; an investment company
registered under the Investment Company Act of 1940 or a business
development company as defined in section 2(a)(48) of that act; a
Small Business Investment Company licensed by the U. S. Small
Business Administration under section 301(c) or (d) of the Small
Business Investment Act of 1958; an employee benefit plan within
the meaning of Title I of the Employee Retirement Income Security
Act of 1974, if the investment decision is made by a plan fiduciary,
as defined in section 3(21) of such act, which is either a bank,
insurance company, or registered investment adviser, or if the
employee benefit plan has

total assets in excess of $5,000,000;
2. Any private business development company as defined in section
202(a)(22) of the Investment Advisers Act of 1940;
3. Any organization described in Section 50l(c)(3) of the Internal
Revenue Code, corporation, Massachusetts or similar business trust,
or partnership, not formed for the specific purpose of acquiring the
securities offered, with total assets of more than $5,000,000;
4. Any director, executive officer, or general partner of the issuer of
the securities being offered or sold, or any director, executive
officer, or general partner of a general partner of that issuer;
5. Any natural person whose individual net worth, or joint net worth
with that person's spouse, at the time of his purchase exceeds
$1,000,000;
6. Any natural person who had an individual income in excess of
$200,000 in each of the two most recent years or joint income with
that person's spouse in excess of $300,000 in each of those years
and has a reasonable expectation of reaching that same level in the
current year;
7. Any trust, with total assets in excess of $5,000,000, not formed
for the specific purpose of acquiring the securities offered, whose
purchase is directed by a sophisticated person as described in
Rule 506(b)(2)(ii) of Regulation D; and
8. Any entity in which all of the equity owners are Accredited
Investors.

g. The undersigned recognizes that the total amount of funds tendered to
purchase the Shares is placed at the risk of the undersigned and may be
completely lost. The undersigned understands that there can be no
assurance of profitable operations. The purchase of Shares as an
investment involves numerous risks;

h. The undersigned realizes that the Shares cannot readily be sold, that
it may not be possible to sell or dispose of the Shares and therefore
the Shares must not be purchased unless the undersigned has liquid
assets sufficient to assure that such purchase will cause no undue
financial

difficulties and the undersigned can provide for current needs and
possible personal contingencies;

i. The undersigned confirms and represents that the undersigned is able
(i) to bear the economic risk of his investment, (ii) to hold the
securities for an indefinite period of time, and (iii) to afford a
complete loss of the undersigned's investment. The undersigned also
represents that the undersigned has (i) adequate means of providing for
the undersigned's current needs and possible personal contingencies, and
(ii) no need for liquidity in this particular investment;

j. The undersigned understands that there are substantial restrictions
on the transferability of the component parts of the Shares and that
any certificate or other document evidencing the component parts of
the Shares will have substantially the following restrictive legend
thereon:

"The securities represented by this certificate have been acquired
for investment and have not been registered under the Securities
Act of 1933, as amended ("Act") or the securities laws a/any state.
Such securities may not be sold, pledged, hypothecated or otherwise
transferred at any time except upon registration or upon delivery to
the Company of an opinion of counsel satisfactory to the Company
that such registration is not required or evidence satisfactory to
the Company that any such transfer will not violate the Act or the
securities laws a/any state."

k. If the undersigned is a resident of Pennsylvania, the undersigned agrees
not to sell the Shares for a period of 12 months from the date of
purchase. The undersigned further acknowledges that a legend will be
placed on any certificate evidencing such Shares restricting its
transferability for 12 months from the date of purchase, and that the
Company will provide its transfer agent with appropriate stop transfer
instructions.

l. All information which the undersigned has provided to the Company
concerning the undersigned's financial position and knowledge of
financial and business matters is correct and complete as of the date
set forth herein, and if there should be any

material change in such information prior to acceptance of this
Subscription Agreement by the Company, the undersigned will immediately
provide the Company with such information;

m. The undersigned has carefully considered and has, to the extent the
undersigned believes such discussion necessary, discussed with the
undersigned's professional legal, tax and financial advisors and the
undersigned's purchaser representative(s), if any, the suitability of
an investment in the Company for the undersigned's particular tax and
financial situation and the undersigned and the undersigned's advisors
or the undersigned's purchaser representative(s), if any, have
determined that the investment is a suitable investment for the
undersigned,

n. The undersigned understands that the books and records of the Company
will be available upon reasonable notice for inspection during
reasonable business hours at the Company's place of business;

o. The undersigned has been presented with and has acted upon the
opportunity to ask questions and receive answers from the Company
relating to the terms and conditions of the offering in order to obtain
any additional information necessary to verify the accuracy of the
information made available to him;

p. The undersigned has not become aware of the offering of Shares by any
form of general solicitation or advertising, including, but not limited
to advertisements, articles, notices or other communications published
in any newspaper, magazine or other similar media or broadcast over
television or radio or any seminar or meeting where those individuals
that have attended have been invited by any such or similar means of
general solicitation or advertising; and

q. The undersigned is a bona fide resident of the state set forth as his
"residence address" in this Subscription Agreement, and that (1) if a
corporation, partnership, trust, or other form of business organization,
it has its principal office within such state; (ii) if an individual, he
has his principal residence in such state; and (iii) if a corporation,
partnership, trust, or other

form of business organization which was organized for the specific
purpose of acquiring the Shares in the Company, all of its beneficial
owners are residents of such state.

4. INDEMNIFICATION. It is acknowledged that the meaning and legal consequences
of the representations and warranties contained in this Subscription Agreement
are understood and the undersigned hereby agrees to indemnify and hold harmless
the Company and each officer thereof from and against any and all loss, damage
and liability due to or arising out of a breach of any of the representations
and warranties made in this Subscription Agreement The representations and
warranties contained herein are intended to and shall survive delivery of the
Subscription Agreement.

5. PURCHASE OF SHARES. The undersigned hereby subscribes to purchase ___________
Units/Shares for a total investment of $_______________($5.00 per Unit/Share).

The purchase price is being paid herewith by delivery of a check payable to
"Credex Corporation".

This Subscription Agreement is executed on this the _____ day of _____________
2010, in the State of __________________.

TYPE OF OWNERSHIP (CHECK ONE)

__ INDIVIDUAL OWNERSHIP (one signature required)

__ CORPORATION (Please include certified corporate resolution authorizing
signature.)

__ COMMUNITY PROPERTY (one signature if shares are held in one name, i.e.,
managing spouse; two signatures required if interest is held in both names)

__ PARTNERSHIP (Please include a copy of the statement of partnership or
partnership agreement authorizing signature.)

__ TRUST (Please include name of trust, name of trustee, date trust was formed
and copy of the trust agreement or other authorization.)

_________________________________
Please print the exact name (registration)
Investor desires on records of the Company.

___________________________________________________
Street Address Suite or Apt.

___________________________________________________
City, State Zip Code

( ) __________________________
Telephone

__________________________
Social Security or Taxpayer I.D. Number

EXECUTION

Please execute this Subscription Agreement by completing the appropriate
section below.

A. If the subscriber is an INDIVIDUAL, complete the following:

__________________________ __________________________
Signature of Investor Name (please type or print)

__________________________
Signature of Spouse or Co-Owner if funds are
To be invested as joint tenants by the entirety

__________________________
Name (please type or print)

B. If the subscriber is a CORPORATION, complete the following:

The undersigned hereby represents, warrants and covenants that the undersigned
has been duly authorized by all requisite action on the part of the corporation
listed below("Corporation") to acquire the Shares, and further, that the
Corporation has all requisite authority to acquire such Shares.

The officer signed below represents and warrants that each of the above
representations or agreements or understandings set forth herein applies to that
Corporation and that he has authority under the article of incorporations,
bylaws, and resolutions of the board of directors of such Corporation or
execute this Subscription Agreement. Such officer encloses a true copy of the
articles of incorporation, the bylaws and, as necessary, the resolutions of the
board of directors authorizing a purchase of the investment herein, in each case
as amended to date.

_______________________________
Name of Corporation (please type or print)

By: _________________________

Name: ______________________

Title: ________________________

C. If the subscriber is a PARTNERSHIP, complete the following:

The undersigned hereby represents, warrants and covenants that the undersigned
is a general partner of the partnership named below ("Partnership"), and has
been duly authorized by the Partnership to acquire the Shares and that he has
all requisite authority to acquire such Shares for the Partnership. The
undersigned represents and warrants that each of the above representations or
agreements or understandings set forth herein applies to that Partnership and
he is authorized by such Partnership to execute this Subscription Agreement.
Such partner encloses a true copy of the partnership agreement of said
Partnership, as amended to date, together with a current and complete list of
all partners thereof.

__________________________________
Name of Partnership (please type or print)

By: __________________________
Name: _______________________
Title: _______________________

D. If the subscriber is a TRUST, complete the following:
The undersigned hereby requests, warrants and covenants that he is duly
authorized by the terms of the trust instrument ("Trust Instrument") for the
("Trust") set forth below to acquire the Shares and the undersigned, as trustee,
has all requisite authority to acquire such Shares for the Trust.

The undersigned, as trustee, executing this Subscription Agreement on behalf of
the Trust, represents and warrants that each of the above representations or
agreements or understandings set forth herein applies to that Trust and he is
authorized by such Trust to execute this Subscription Agreement. Such trustee
encloses a true copy of the Trust Instrument of said Trust as amended to date.

__________________________
Name of Trust (Please type or print)

By: _______________________
Name: _______________________
Title: _______________________

ACCEPTED BY THE COMPANY this, the _____ day of ____________, 2010.
CREDEX Corporation

By: __________________________
Title: _______________