---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-003118"
form_type: "8-K"
ticker: null
cik: "0001432939"
company_name: "CREDEX CORP"
filed_at: "2023-01-31T23:59:59+00:00"
generated_at: "2026-06-20T05:17:08.317693+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Credex restates Q2/Q3 2021 financials due to reverse acquisition error; appoints new auditor

## Summary
- Board determined June 30 & Sept 30, 2021 financials cannot be relied upon due to incorrect accounting for Cannabis Depot reverse acquisition.
- Restatement adjusts total assets from $4,377 to $1.89M (June 30) and $3,128 to $2.22M (Sept 30, 2021).
- Michael Gillespie & Associates appointed as independent auditor effective Jan 5, 2023, replacing prior firm.
- Company plans to restate financial statements for the affected periods and any related periods.

## SEC filing metadata
- accession: 0001493152-23-003118
- form_type: 8-K
- cik: 0001432939
- company_name: CREDEX CORP
- filed_at: 2023-01-31T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 4.01, 4.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1432939/000149315223003118/0001493152-23-003118-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1432939/000149315223003118/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-003118
- JSON: https://secwatch.observer/filing/0001493152-23-003118.json
- Plain text: https://secwatch.observer/filing/0001493152-23-003118.txt

## Key facts
- Auditor Changes
  CREDEX CORP engaged Michael Gillespie & Associates, PLLC as its auditor.
  - Action: engagement
  - Auditor: Michael Gillespie & Associates, PLLC
  source text: Effective as of January 5, 2023, the Board of Directors of Credex Corporation (the “Company”) approved the appointment of Michael Gillespie & Associates, PLLC (“Gillespie”) as the Company’s new independent registered accounting firm for the periods ended December 31, 2021 and 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1432939/000149315223003118/0001493152-23-003118-index.htm
- Auditor Changes
  CREDEX CORP reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: esult, the Company plans to restate the Financial Statements and any other related periods. As previously disclosed by the Company in its Current Report on Form 8-K filed with the SEC on December 30, 2022, Cannabis Depot Holding Corp. (“Cannabis Depot”) acquired 58,492,500 shares (the “Control Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”) on June 17, 2021, representing a controlling interest in the Company (the “Change in Control Transaction”). Cannabis Depot then distributed the Control Shares to its shareholders (the “Share Distribution,” together with the Change in Control Transaction, the “Cannabis Depot Transactions”). Consequently, the Cannabis Depot Transactions resulted in a change in the accounting treatment for that transaction that was incorrectly reflected in the Form 10-Q’s. The matters set forth in this Form 8-K have been discussed
  evidence_url: https://www.sec.gov/Archives/edgar/data/1432939/000149315223003118/0001493152-23-003118-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.