UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 10-Q/A Third Amendment

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

For the quarterly period ended September 30, 2010

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

For the transition period from to

Commission File Number: 000-54142

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

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

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

Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. [ X ]yes [ ]no

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

Indicate by check mark whether the registrant is a large accelerated filer, an
accelerated filer, a non-accelerated filer, or a smaller reporting company.
See the definitions of "large accelerated filer," "accelerated filer,"
"non-accelerated filer," and "smaller reporting company" in Rule 12b-2 of the
Exchange Act.

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

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

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

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

APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer's classes of
common stock, as of the latest practicable date.

5,724,250

TABLE OF CONTENTS

Part I. Financial Information.......................................... 4

Item 1. Financial Statements........................................... 5

Item 2. Management's Discussion and Analysis........................... 14

Item 3. Quantitative and Qualitative Disclosures about Market Risk..... 17

Item 4. Controls and Procedures........................................ 17

Part II. Other Information............................................. 18

Item 1. Legal Proceedings.............................................. 18
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.... 18
Item 3. Defaults Upon Senior Securities................................ 18
Item 4. Submission of Matters to a Vote of Security Holders............ 20
Item 5. Other Information.............................................. 20
Item 6. Exhibits....................................................... 20

Signature.............................................................. 20

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements.

INDEX TO FINANCIAL STATEMENTS PAGE

Balance Sheets at September 30, 2010 [Unaudited] and December 31, 2009. . . 5

Unaudited Statements of Operations for the three- and nine-month periods
ended September 30, 2010 and 2009 and for the period from inception,
September 2, 2005, through September 30, 2010 . . . . . . . . . . . . . . . 6

Unaudited Statements of Stockholders' Equity for the period from
inception, September 2, 2005, through September 30, 2010. . . . . . . . . . 7

Unaudited Statements of Cash Flows for the nine-month periods ended
September 30, 2010 and 2009 and for the period from inception,
September 2, 2005, through September 30, 2010 . . . . . . . . . . . . . . . 8

Notes to Financial Statements . . . . . . . . . . . . . . . . . . . . . . . 9

Credex Corporation
(A Development Stage Company)
BALANCE SHEETS
September 30, 2010, [Unaudited] and December 31, 2009

ASSETS

September 30, December 31,
2010 2009
------------ ------------
(Unaudited)
CURRENT ASSETS:
Cash $ 8,287 $ 2,185
-------- --------
Total Assets $ 8,287 $ 2,185
======== ========

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

CURRENT LIABILITIES:
Accounts payable $ 2,500 $ 2,500
-------- --------
Total Current Liabilities 2,500 2,500
-------- --------
STOCKHOLDERS' EQUITY (DEFICIT):
Common stock, $0.001 par value;
100,000,000 authorized shares, 5,658,000
and 3,565,500 shares issued and
outstanding at September 30, 2010, and
December 31, 2009, respectively 5,658 3,565
Additional paid in capital 252,933 36,676
Less unearned capital (see Note E) (160,000) 0
Accumulated deficit during the
development stage (92,804) (40,556)
-------- --------
Total Stockholders' Equity (Deficit) 5,787 (315)
-------- --------
Total Liabilities and Stockholders'
Equity (Deficit) $ 8,287 $ 2,185
======== ========

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

Credex Corporation
(A Development Stage Company)
STATEMENTS OF OPERATIONS
For Periods from Inception [September 2, 2005] to September 30, 2010
[Unaudited]

Three Months Ended Nine Months Ended Cumulative from
September 30, September 30 Inception to
------------------ ----------------- September 30,
2010 2009 2010 2009 2010
------- ------ -------- -------- ----------
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 1,651 0 1,651 6,882
Office expenses 1,464 1,194 1,993 1,547 8,035
Telephone 257 0 257 0 2,579
Professional fees
(see Note E) 46,268 1,200 48,668 9,200 73,965
Advertising 0 0 0 0 350
Portfolio purchase 0 0 0 0 21,000
Seminar 0 0 0 0 1,585
Rent 1,330 0 1,330 0 1,858
------- ------ -------- -------- --------
Total Expenses 49,319 4,045 52,248 12,398 116,254
------- ------ -------- -------- --------
Operating Loss (49,319) (4,045) (52,248) (12,398) (92,837)
------- ------ -------- -------- --------
OTHER INCOME:
Interest income 0 0 0 0 33
------- ------ -------- -------- --------
Net loss before income
taxes (49,319) (4,045) (52,248) (12,398) (92,804)

INCOME TAXES 0 0 0 0 0
------- ------ -------- -------- --------
Net Loss $(49,319) $(4,045) $(52,248) $(12,398) $(92,804)
======= ======= ======== ======== ========

Basic net loss per share $(0.009) $(0.001) $ (0.012) $ (0.004)
======= ======= ======== ========
Weighted average number
of shares
outstanding (000's) 5,243 3,342 4,211 3,018
===== ===== ===== =====

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

Credex Corporation
(A Development Stage Company)
STATEMENTS OF STOCKHOLDERS' EQUITY (DEFICIT)
For Periods from Inception [September 2, 2005] to September 30, 2010

<Caption>
<Table>
Common Stock Additional Development Total
---------------- Paid-in Unearned Stage Stockholders'
Shares Amount Capital Capital Deficit Equity
--------- ------ -------- ------------ ------- ---------
<s> <c> <c> <c> <c> <c> <c>
September 2, 2005, Date of
Incorporation 0 $ 0 $ 0 $ 0 $ 0 $ 0
Shares purchased for cash
at $0.001 per share 10,000 10 990 0 0 1,000
Net loss for year ended
December 31, 2005 0 0 0 0 (8,397) (8,397)
--------- ------ -------- --------- -------- --------
Balances December 31, 2005 10,000 10 990 0 (8,397) (7,397)

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

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

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

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

Shares issued for cash
at $0.02 per share
(unaudited) 267,500 268 5,082 0 0 5,350
Shares issued for cash
at $0.04 per share
(unaudited) 325,000 325 12,675 0 0 13,000
Shares issued for future
services at $0.113 per
share (unaudited) 1,500,000 1,500 198,500 (200,000) 0 0
Unearned capital amortized
(unaudited) 0 0 0 40,000 0 40,000
Net loss for period ended
September 30, 2010
(unaudited) 0 0 0 0 (52,248) (52,248)
Balances September 30, --------- ------ -------- --------- -------- --------
2010 (unaudited) 5,658,000 $5,658 $252,933 $(160,000) $(92,804) $ 5,787
========= ====== ======== ========= ======== ========

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

</Table>

Credex Corporation
(A Development Stage Company)
STATEMENTS OF CASH FLOWS
For Periods from Inception [September 2, 2005] to September 30, 2010
[Unaudited]

Nine Months Ended Cumulative from
September 30 Inception to
------------------ September 30,
2010 2009 2010
-------- -------- ------------
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss $(52,248) $(12,398) $(92,804)
Add non-cash expenses to Net Loss:
Professional fees from consulting
agreement (see Note E) 40,000 0 40,000
Adjustments to reconcile net loss
to net cash:
Used by operations -
Increase (decrease) in accounts
payable 0 (500) 2,500
-------- -------- --------
Net Cash Used by Operating
Activities (12,248) (12,898) (50,304)
-------- -------- --------
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from stockholder loan 0 0 46,828
Repayment of stockholder loan 0 0 (28,897)
Sale of common stock 18,350 10,800 40,660
-------- -------- --------
Net Cash Provided by Financing
Activities 18,350 10,800 58,591
-------- -------- --------
Net Increase (Decrease) in Cash 6,102 (2,098) 8,287

Cash and Equivalents,
Beginning of Period 2,185 3,390 0
-------- -------- --------
Cash and Equivalents,
End of Period $ 8,287 $ 1,292 $ 8,287
======== ======== ========

SIGNIFICANT NON-CASH ACTIVITIES:
Stockholder loan contributed to
Capital for Common stock $ 0 $ 0 $ 17,931
======== ======== ========
Common stock issued as collateral for
future services / additional capital
not earned (see Note E) $200,000 $ 0 $200,000
======== ======== ========

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

Credex Corporation
(A Development Stage Company)
NOTES TO FINANCIAL STATEMENTS
September 30, 2010, [Unaudited] and December 31, 2009

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. Basis of Presentation

The accompanying unaudited financial statements have been prepared in
accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X,
and, therefore, do not include all information and footnotes necessary for a
complete presentation of financial position, results of operations, cash flows,
and stockholders' equity in conformity with accounting principles generally
accepted in the United States of America. In the opinion of management, all
adjustments considered necessary for a fair presentation of the results of
operations and financial position have been included and all such adjustments
are of a normal recurring nature.

These financial statements should be read in conjunction with the audited
financial statements and notes thereto contained in the Company's General
Form for Registration of Securities filed with the SEC on Form 10-12G on
October 6, 2010. The results of operations for interim periods are not
necessarily indicative of the results to be expected for the full year. Notes
to the financial statements, which would substantially duplicate the disclosure
contained in the audited financial statements for fiscal year 2009 as reported
in Form 10-12G, have been omitted.

3. 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.

4. 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.

5. 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.

6. 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.

7. Advertising

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

8. 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
September 30, 2010 (unaudited) and December 31, 2009, the Company had no
balances in excess of federally insured limits.

9. 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.

10. Income Taxes

The Company follows Section 740-10-30 of the FASB Accounting Standards
Codification, which requires recognition of deferred tax assets and liabilities
for the expected future tax consequences of events that have

been included in the financial statements or tax returns.

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

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

11. 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.

NOTE B - STOCKHOLDERS' EQUITY (Deficit)

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

The Company has forty stockholders of record as of September 30, 2010. As of
September 30, 2010, the outstanding shares were 5,658,000. Share transactions
during the quarter ended September 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") for future services
to be performed valued at $200,000 ($0.113 per
share) 1,500,000
---------
1,825,000
=========

Additionally, ownership of 694,445 shares was transferred from a past
officer/director to Cypress. This former officer/director is a member of
Cypress. Another past officer/director who is deceased passed to his heirs
1,705,555 shares of which his heirs transferred 764,180 shares to Cypress. A
total of 2,958,625 shares have been transferred to Cypress under a consulting
management agreement with the Company. Upon completion of its services,
Cypress is to be paid $200,000 by the Company at which time Cypress will return
these shares. (Refer to Note E - Related Party)

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.

The Company's deferred tax assets as of September 30, 2010 and
December 31, 2009 were as follows:

September 30, December 31,
2010 2009
------------ ------------
(Unaudited)
Deferred tax asset $ 19,900 $ 15,300
Valuation allowance (19,900) (15,300)
--------- ---------
Net Deferred Tax Asset $ 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 $52,804 (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 nine
months ended September 30, 2010 and 2009 in the amount of $2,400 and $4,200,
respectively.

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

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

In exchange for these services, which the Company anticipates will last for a
ten month period, the Company agreed to pay Cypress cash fee of $200,000 as
well as provide Cypress with 2,958,625 shares of its stock, which effectively
transfers control of the Company to Cypress during this period. Because the
consulting services began August 1, 2010, amortization into Professional Fee
was $40,000 in 2010 and $0 in 2009 resulting in net unearned capital of
$160,000 as of September 30, 2010. Upon receipt of the cash payment of
$200,000, Cypress is to return the shares to the Companys treasury and the
Company's former officers. [Refer to Note B - Stockholders' Equity (Deficit)]

NOTE F - FILING WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION

The Company has completed filing with the U.S. Securities and Exchange
Commission one form to become public and is in the process of preparing a
filing to be able to sell shares to the public. The Company filed a Form 10
under the Securities and Exchange Act of 1934 to start reporting its operations
In conjunction with the Form 10, the Company will file an S-1 under the
Securities Act of 1933 to allow its shareholders to sell their shares to the
public. The plan is for the Company to register part of the existing
shareholders' 2,940,625 shares outstanding with the shares to be sold to the
public at $0.25 per share. The costs for this offering are estimated to be
less than $10,000.

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

BACKGROUND

The following discussion of our financial condition and results of operations
should be read in conjunction with our financial statements and the related
notes, and other financial information contained in this prospectus.

Overview

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

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

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

Plan of Operations

As discussed above we have not operated pursuant to our business plan since
inception and have generated no revenue in the three and nine months ended
September 30, 2010 and 2009.

Development stage operating expenditures during the period from inception on
September 2, 2005 to September 30, 2010 were $76,254 which consisted primarily
of general and administrative expenses related to legal, accounting and other
fees related to our formation and this offering. Our net loss was $12,248 and
$12,398 for the nine months ended September 30, 2010 and 2009, respectively,
and $52,804 net loss from inception through September 30, 2010. The cumulative
income to date was $23,450 including finance income of $15,417, consulting
income of $8,000 and interest income of $33.

Liquidity and Capital Resources

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

At September 30, 2010 and December 31, 2009, we had total assets of $8,287 and
$2,185, respectively, consisting of cash.

At September 30, 2010 and December 31, 2009, our total liabilities were $2,500
and $2,500 respectively consisting primarily of accounts payable.

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

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

Cash Requirements

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

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

Off-Balance Sheet Arrangements

We do not have any off balance sheet arrangements.

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

Credex's executive office is located at 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 until such time as capital is raised for
operations. To date its operation has involved only selling stock to meet
expenses.

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

Disclosure of Contracted Obligations

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

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 services to
the Company.

In exchange for these services, which the Company anticipates will last for a
ten month period, the Company agreed to pay Cypress cash fees of $200,000
as well as provide Cypress with 2,958,625 shares of its stock, which
effectively transfers control of the Company to Cypress during this period.
Also, as part of the contract Steven G. Salmond, a member of Cypress Bend
was installed as Secretary, Treasurer, CFO and Director of Credex. Because
the consulting services began August 1, 2010, amortization into Professional
Fees was $40,000 in 2010 and $0 in 2009 and 2008 resulting in net unearned
capital of $160,000 as of September 30, 2010 [unaudited]. 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, with an expected return of 10% to
12% of the face value of the portfolios. The Company intends to purchase
portfolios of Primary, Secondary and Tertiary distressed credit card debt from
distressed debt wholesalers and re-sellers because they offer smaller
portfolios for sale and re-purchase. These portfolios usually sell for $0.01 to
$0.03 per dollar of face value. The prices stated are for 2009. On average,
approximately $800,000 of face value defaulted credit card debt can be
purchased with $12,000.

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

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

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

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

As of September 31, 2010, the Chief Executive and Financial Officers carried
out an assessment of the effectiveness of the design and operation of our
disclosure controls and procedures and concluded that the Company's disclosure
controls and procedures were not effective as of September 30, 2010, because of
material weaknesses described below.

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

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

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

The Chief Executive and Financial Officers performed additional accounting and
financial analyses and other post-closing procedures including detailed
validation work with regard to balance sheet account balances, additional
analysis on income statement amounts and managerial review of all significant

account balances and disclosures in the Quarterly Report on Form 10-Q, to
ensure that the Company's Quarterly Report and the financial statements forming
part thereof are in accordance with accounting principles generally accepted
in the United States of America. Accordingly, management believes that the
financial statements included in this Quarterly Report fairly present,
in all material respects, the Company's financial condition, results of
operations, and cash flows for the periods presented.

Changes in Internal Control over Financial Reporting

During the three months ended September 30, 2010 there were no changes in our
system of internal controls over financial reporting.

PART II. OTHER INFORMATION

Item 1. Legal Proceedings.

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

Item 1A. Risk Factors

None

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

The authorized equity of Credex Corporation consists of 100 million Shares,
$.001 par value per share, of which 5,724,250 Shares are issued and outstanding
to officers and directors for cash and services rendered from inception
(September 2, 2005) through October 25, 2010.

[Intentionally left blank]

Credex Corporation
Sale of Investment

Title of Shares Share Amount
Stock Date Issued Price Paid Subscribed Services
Common 09/09/2005 10,000 $0.100 $1,000
Common 10/24/2007 2,240,000 $0.010 $16,131
Common 10/24/2007 250,000 $0.010 $1,800
Common 04/04/2008 50,000* $0.020 $1,000
Common 07/07/2008 25,000* $0.020 $500
Common 07/28/2008 25,000* $0.020 $500
Common 08/16/2008 15,000* $0.020 $300
Common 09/06/2008 50,000* $0.020 $1,000
Common 09/21/2008 10,000* $0.020 $200
Common 10/01/2008 10,000* $0.020 $200
Common 10/17/2008 15,000* $0.020 $300
Common 12/31/2008 150,000* $0.020 $3,000
Common 06/22/2009 10,000 $0.020 $200
Common 06/22/2009 10,000 $0.020 $200
Common 06/29/2009 50,000 $0.020 $1,000
Common 06/29/2009 50,000 $0.020 $1,000
Common 06/29/2009 100,000 $0.020 $2,000
Common 06/29/2009 50,000 $0.020 $1,000
Common 06/29/2009 50,000 $0.020 $1,000
Common 06/29/2009 100,000 $0.020 $2,000
Common 07/22/2009 10,000 $0.020 $200
Common 08/04/2009 100,000 $0.020 $2,000
Common 09/19/2009 10,000 $0.020 $200
Common 10/07/2009 10,000 $0.020 $200
Common 10/07/2009 50,000 $0.020 $1,000
Common 10/07/2009 50,000 $0.020 $1,000
Common 11/19/2009 45,500 $0.020 $910
Common 12/15/2009 20,000 $0.020 $400
Common 02/22/2010 30,000 $0.020 $600
Common 03/16/2010 12,500 $0.020 $250
Common 04/14/2010 100,000 $0.020 $2,000
Common 04/30/2010 125,000 $0.020 $2,500
Common 07/12/2010 1,500,000 $0.113 $0 $0 $200,000**
Common 08/30/2010 12,500 $0.040 $500
Common 08/30/2010 25,000 $0.040 $1,000
Common 08/23/2010 125,000 $0.040 $5,000
Common 09/03/2010 25,000 $0.040 $1,000
Common 09/03/2010 62,500 $0.040 $2,500
Common 09/03/2010 25,000 $0.040 $1,000
Common 09/03/2010 25,000 $0.040 $1,000
Common 09/03/2010 25,000 $0.040 $1,000
Common 10/05/2010 56,250 $0.040 $2,250
Common 10/05/2010 10,000 $0.040 $400
5,658,000 $61,241 $0 $200,000*

* Shares sold under Reg D. The remaining shares were sold under the Private
Memorandum Placement.

**Stock issued as part of a service agreement for future services with
Cypress Bend Executive Services, LLC. Refer to "Part I - Item 2:
Disclosure of Contracted Obligations."

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

Item 3. Defaults Upon Senior Securities.

None

Item 5. Other Information.

None

Item 6. Exhibits.

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

Signatures

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

Credex Corporation

By: /s/ Denise Leonardo
___________________________ Date: January 25, 2011

Denise Leonardo,
Chief Executive Officer