FORM 10-QSB

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, DC  20549


                   Quarterly Report Under Section 13 Or 15(d)
                    Of The Securities Exchange Act Of 1934



For the Quarter Ended: March 31, 2007       Commission File No: 0-6933



                           CAMBEX CORPORATION

            (Exact name of registrant as specified in its charter)



        Massachusetts                                  04-244-2959

       (State or other jurisdiction of             (I.R.S. Employer
       incorporation or organization)             Identification No.)


                  115 Flanders Road, Westborough, Massachusetts

                  (Address of principal executive offices)


                                 01581

                              (Zip Code)


Registrant's telephone number, including area code:  (508) 983-1200


Indicate by "X" 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.

             Yes  X                              No

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

Class                                 Outstanding as of March 31, 2007

Preferred                                           84,701 shares

Common                                          23,429,278 shares

<PAGE>

Part I.					FINANCIAL INFORMATION

Item 1.  Financial Statements



                       CAMBEX CORPORATION AND SUBSIDIARIES

                           CONSOLIDATED BALANCE SHEETS
                        MARCH 31, 2007 AND DECEMBER 31, 2006

                                      ASSETS

                                                  MARCH 31,    DECEMBER 31,
                                                     2007           2006
                                                (unaudited)     (audited)

CURRENT ASSETS:

   CASH AND CASH EQUIVALENTS                    $   150,335   $   225,835

   ACCOUNTS RECEIVABLE,
   Less Reserves of $26,000                          66,347        43,233


   INVENTORIES                                       80,999        51,845

   PREPAID EXPENSES                                  14,080        16,141

      TOTAL CURRENT ASSETS                      $   311,761   $   337,054

PROPERTY AND EQUIPMENT, at cost:
   MACHINERY AND EQUIPMENT                      $   422,468   $   422,468
   FURNITURE AND FIXTURES                            14,186        14,186
                                                $   436,654   $   436,654

 LESS - ACCUMULATED DEPRECIATION
             AND AMORTIZATION                       434,154       433,654

 NET PROPERTY AND EQUIPMENT                     $     2,500   $     3,000



  TOTAL ASSETS                                  $   314,261   $   340,054


2
<PAGE>

                          CONSOLIDATED BALANCE SHEETS

                       MARCH 31, 2007 AND DECEMBER 31, 2006

                    LIABILITIES AND STOCKHOLDERS' INVESTMENT

                                                MARCH 31,      DECEMBER 31,
                                                   2007           2006
                                               (unaudited)      (audited)


CURRENT LIABILITIES:

LOAN AGREEMENT                                $     408,479  $     225,000
NOTES PAYABLE                                       429,643        429,643
ACCOUNTS PAYABLE                                    219,366        156,240
OTHER LIABILITIES                                    80,580        522,993
ACCRUED EXPENSES                                  1,805,543      1,760,052

 TOTAL CURRENT LIABILITIES                    $   2,943,611  $   3,093,928


STOCKHOLDERS' INVESTMENT:
PREFERRED STOCK, $ 1.00 PAR VALUE PER SHARE
AUTHORIZED - 3,000,000 SHARES
 SERIES A - ISSUED -  84,701 shares           $      84,701  $      84,701

COMMON STOCK, $ .10 PAR VALUE PER SHARE
AUTHORIZED - 25,000,000 SHARES
 ISSUED - 23,429,278 shares                       2,342,928      2,342,928
CAPITAL IN EXCESS OF PAR VALUE                   19,846,273     19,846,252
RETAINED EARNINGS (DEFICIT)                     (24,903,252)   (25,027,755)


TOTAL STOCKHOLDERS' INVESTMENT                $  (2,629,350) $  (2,753,874)
TOTAL LIABILITIES AND
 STOCKHOLDERS' INVESTMENT                     $     314,261  $     340,054


3
<PAGE>


                  CAMBEX CORPORATION AND SUBSIDIARIES
            UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
       FOR THE THREE MONTHS ENDED MARCH 31, 2007 AND APRIL 1, 2006



                                                      March 31,     April 1,
                                                         2007          2006


REVENUES                                              $  116,245 $ 1,306,649
COST OF SALES                                             39,448     112,866

Gross profit                                          $   76,797 $ 1,193,783

OPERATING EXPENSES:
   Research and development                           $  214,821 $   234,991
   Selling                                                61,364     123,750
   General and administrative                            101,149     157,873
   Total operating expenses                           $  377,334 $   516,614

OPERATING INCOME (LOSS)                               $( 300,537)$   677,169

OTHER INCOME (EXPENSE)                                $  425,040 $(   19,992)

INCOME BEFORE INCOME TAXES                            $  124,503 $   657,177
   Provision for income taxes                               -           -

NET INCOME                                            $  124,503 $   657,177


INCOME PER COMMON SHARE                               $     0.01 $      0.03

Weighted Average Common Shares Outstanding            23,430,000  23,160,000
Weighted Average Common and Common
Equivalent Shares Outstanding                         23,430,000  23,160,000


4
<PAGE>




                         CAMBEX CORPORATION AND SUBSIDIARIES
           UNAUDITED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' INVESTMENT

                        Common Stock  Capital in    Retained
                          $.10        Excess of     Earnings
                        Par Value     Par Value     (Deficit)



BALANCE AT
 JANUARY 1, 2006         $2,274,216  $19,864,202  $(25,935,218)
ADD:
Net income               $     -     $      -     $    657,177
Conversion of Preferred
 Stock to Common Stock       38,594       (1,354)         -
Dividends                    16,596      (16,596)         -

BALANCE AT
 APRIL 1, 2006           $2,329,406  $19,846,252  $(25,278,041)


BALANCE AT
 JANUARY 1, 2007         $2,342,928  $19,846,252  $(25,027,755)
ADD:
Net income               $     -     $      -     $    124,503
Stock option compensation
 expense                       -              21          -

BALANCE AT
 MARCH 31, 2007          $2,342,928  $19,846,273  $(24,903,252)





                       Series A            Series B
                    Preferred Stock    Preferred Stock
                    $1.00 Par Value    $1.00 Par Value

BALANCE AT
 JANUARY 1, 2006      $ 98,223           $  37,240

ADD:
Conversion of Preferred
 Stock to Common Stock    -                (37,240)

BALANCE AT
 APRIL 1, 2006        $ 98,223           $       0


BALANCE AT
 JANUARY 1, 2007 and
 At MARCH 31, 2007    $ 84,701           $       0

5
<PAGE>

                 CAMBEX CORPORATION AND SUBSIDIARIES
            UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOW
       FOR THE THREE MONTHS ENDED MARCH 31, 2007 AND APRIL 1, 2006

	                                                Three Months Ended
                                                      March 31,    April 1,
                                                       2007         2006
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income                                         $   124,503 $   657,177
Adjustments to reconcile net income
to net cash provided by(used in)
operating activities:
 Depreciation                                      $       500 $       500
 Amortization of prepaid expenses                        6,640       8,147
 Stock option compensation expense                          21        -

Changes in operating assets and liabilities:
  Accounts receivable                               (   23,114)     56,241
  Inventory                                         (   29,154)     23,019
  Prepaid expenses                                  (    4,579) (    7,026)
  Accounts payable                                      63,126      18,105
  Accrued expenses                                      45,491     262,232
  Other liabilities                                 (  442,413) (    4,833)
     Total adjustments                             $(  383,482)$   356,385
Net cash provided by(used in) operating activities $(  258,979)$ 1,013,562


CASH FLOWS FROM FINANCING ACTIVITIES:
 Net borrowings (repayments)under loan agreement       183,479  (  967,219)
 Repayments of notes payable                              -     (   15,000)
 Net cash provided by
 (used in) financing activities                    $   183,479 $(  982,219)

 Net increase (decrease) in
  cash and cash equivalents                        $(   75,500)$    31,343
 Cash and cash equivalents at beginning of period      225,835     326,747
 Cash and cash equivalents at end of period        $   150,335 $   358,090

SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for:
 Interest                                          $      -    $      -
 Income Taxes                                             -           -

6
<PAGE>



                               FORM 10-QSB

               CAMBEX CORPORATION AND SUBSIDIARIES


For The Quarter Ended: March 31, 2007 Commission File:  0-6933

Notes & Comments:

(1)Significant Accounting Policies

       The accompanying consolidated financial statements include our
accounts and our wholly-owned subsidiaries. All remaining subsidiaries are
inactive. All material intercompany transactions and balances have been
eliminated in consolidation.

       The condensed financial statements included herein have been prepared
by us, without audit, pursuant to the rules and regulations of the Securities
and Exchange Commission.  Certain information and footnote disclosures
normally included in financial statements prepared in accordance with
generally accepted accounting principles have been condensed or omitted
pursuant to such rules and regulations, although we believe that the
disclosures are adequate to make the information presented not misleading.
The information furnished includes all adjustments and accruals consisting
only of normal recurring accrual adjustments which are, in our opinion,
necessary for a fair presentation of results for the interim period.  It is
suggested that these condensed financial statements be read in conjunction
with the financial statements and the notes thereto included in our latest
annual report on Form 10-KSB.

     Inventories, which include raw materials, labor and manufacturing
overhead are stated at the lower of cost (first-in, first-out) or market and
consist of the following:

                                    March 31,    December 31,
                                      2007          2006

       Raw materials              $   24,709    $   19,193
       Work-in-process                16,134         8,410
       Finished goods                 40,156        24,242


                                  $   80,999    $   51,845


(2)    Income and Dividends Per Share

       Per share amounts are based on the weighted average number of shares
outstanding during each period plus applicable common stock equivalents.
There were no material differences for per share amounts assuming full
dilution in either period.

7
<PAGE>

                                FORM 10-QSB

                   CAMBEX CORPORATION AND SUBSIDIARIES

For The Quarter Ended: March 31, 2007 Commission File:  0-6933

Notes & Comments (Continued):

(3)    Short Term Borrowings

We have a loan and security agreement with B.A. Associates, Inc. which is a
corporation owned by a son-in-law of Joseph F. Kruy, our Chairman, President
and Chief Executive Officer under which we may borrow up to $1,100,000. The
outstanding balance due to B.A. Associates, Inc. was $408,479 and $225,000 at
March 31, 2007 and December 31, 2006, respectively.

Notes payable of $429,643 at March 31, 2007 and December 31, 2006, include
$275,000 of advances payable which are due on demand. The $275,000 of
advances payable consists of amounts from related parties. The balance of
$154,643 includes $4,643 of accounts payable converted to notes payable and
$150,000 of series 1 bridge financing notes issued in 2000.

(4) Preferred Stock

We are authorized to issue up to 3,000,000 shares of preferred stock, $1.00
par value per share, of which 84,701 Series A Convertible Preferred shares
are issued and outstanding as of March 31, 2007. The Series A Convertible
Preferred shares have a dividend rate of 12%, when and if declared by the
Company's Board of Directors. Holders of shares of Series A Preferred stock
are not entitled to any voting rights for any shares of Series A Preferred
stock which they hold. The Series A Preferred Stock is convertible into
shares of common stock, at any time at the holder's option. The holder's of
the 84,701 shares of Series A Preferred Stock could convert their preferred
shares into 847,010 shares of common stock.

(5) Stock Options

Effective January 1, 2006, the Company adopted the fair value method, which
is considered the preferable accounting method, of recording stock-based
employee compensation as contained in (SFAS) No. 123 (Revised December 2004).
As prescribed in SFAS No. 148, "Accounting for Stock-Based Compensation-
Transition and Disclosure", the Company elected to use the "prospective
method." The prospective method requires expense to be recognized for all
awards granted, modified or settled beginning in the year of adoption.
Historically, the Company applied the intrinsic method as provided in
Accounting Principles Board Opinion No. 25, "Accounting for Stock Issued to
Employees" and related interpretations and accordingly, no compensation cost
had been recognized for the stock options in prior periods. As a result of
adopting the fair value method for stock compensation, all future awards will
be expensed over the stock options' vesting period.

Effective March 29, 2007, the Board of Directors of the Company voted to
issue options to acquire 500,000 shares of common stock for the exercise
price of $0.13. In accordance with SFAS 123(R), the Company recorded
compensation expense of $21 during the quarter ended March 31, 2007.

8
<PAGE>

                                  FORM 10-QSB

                  CAMBEX CORPORATION AND SUBSIDIARIES

For The Quarter Ended: March 31, 2007 Commission File:  0-6933

Item 2.  Management's Discussion and Analysis or Plan of Operation

The statements contained in "Management Discussion and Analysis or Plan of
Operation" and elsewhere throughout this Report on Form 10-QSB that are not
historical facts are "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934.  These forward-looking statements are subject to
certain risks and uncertainties which could cause actual results to differ
materially from those reflected in the forward-looking statements.  These
forward-looking statements reflect management's analysis, judgment, belief or
expectation only as of the date hereof.  We undertake no obligation to
publicly revise these forward-looking statements to reflect events or
circumstances that arise after the date hereof or to publicly release the
results of any revisions to such forward-looking statements that may be made
to reflect events or circumstances after the date hereof.  In addition to the
disclosure contained herein, readers should carefully review any disclosure
of risks and uncertainties contained in other documents we file or have filed
from time to time with the Securities and Exchange Commission pursuant to the
Securities Exchange Act of 1934.

We are a designer and supplier of data storage software and hardware products
and solutions.  Our products include memory for computing systems and fibre
channel connectivity and storage products used to build storage area networks
(SANs).

We design, manufacture, and market memory products that enhance the
performance and reliability of computing systems and networking devices. We
have been selling memory products to our customers since 1970. A processor's
memory is used to hold temporary instructions and data needed to execute
tasks.  This enables the computer's CPU to access instructions and data
quickly.  After upgrading a processor's memory, the computer will process
data faster, because it will need to access its slower secondary storage
(i.e., the disk drive) less frequently.  We provide memory upgrade solutions
for all the major servers and workstations manufactured by IBM, Sun and
Hewlett-Packard.  Adding additional memory is both application transparent
and the most cost-effective solution for eliminating many system performance
bottlenecks.

We develop and offer high availability software, fibre channel host bus
adapters and hubs, fibre channel disk storage arrays and management software
for the deployment of SAN solutions. SANs enhance and simplify the
centralized management and sharing of data storage resources while providing
improved availability, scalability, performance, and disaster recovery. SANs
have been enabled by the emergence of fibre channel, a new generation of
server to storage communications technology. Our present host bus adapters
are based on the QLogic chipset. Lately, the demand for our fibre channel
connectivity products experienced a gradual shift towards software operating
with native server host bus adapters. As a result, we are transitioning our
fibre channel connectivity products towards high availability software
interoperable with the host bus adapters offered by the server manufacturers.

9
<PAGE>

                                  FORM 10-QSB

                        CAMBEX CORPORATION AND SUBSIDIARIES

For The Quarter Ended: March 31, 2007 Commission File:  0-6933


Item 2.   Management's Discussion and Analysis or Plan of Operation
(continued)

Comparison of the quarter ended March 31, 2007 and the quarter ended April 1,
2006

Our revenues were $116,245 for the quarter ended March 31, 2007 and
$1,306,649 for the quarter ended April 1, 2006. Revenues for the three months
ended March 31, 2007 decreased 91% compared to revenues for the same three
months in the prior year. The decrease was due to a large sale of our fibre
channel connectivity software to a customer in the quarter ended April 1,
2006.

Gross profit rate was 66% of sales for the three months ended March 31, 2007
and 91% for the three months ended April 1, 2006. The decrease in gross
profit percentage was primarily due to increased fixed cost overhead
allocation percentage due to lower sales.

Operating expenses for the three months ended March 31, 2007 decreased by 27%
in comparison to operating expenses for the comparable three months of the
prior year. Selling expenses for the three months ended March 31, 2007
decreased by 50% compared to the amount of these expenses in the first
quarter of fiscal 2006 primarily due to decreases in commissions and
personnel and related expenses.

Other income (expense) for the quarter ended March 31, 2007 includes other
income of $442,000 relating to the reversal of accrued expenses and $19,000
of interest expense. Other income (expense) for the quarter ended April 1,
2006 includes $25,000 of interest expense.

Net income for the first quarter of fiscal 2007 was $125,000, or $0.01 per
share, as compared with net income of $657,000, or $0.03 per share, for the
first quarter of fiscal 2006.

10
<PAGE>

                                 FORM 10-QSB

                  CAMBEX CORPORATION AND SUBSIDIARIES


For The Quarter Ended: March 31, 2007 Commission File:  0-6933


Item 2.   Management's Discussion and Analysis or Plan of Operation
(continued)


Inflation

We did not experience any material adverse effects in the first quarter of
2007 or in the first quarter of 2006 due to general inflation.


Liquidity and Capital Resources

During the quarter ended March 31, 2007, net cash used by operating
activities was $258,979. No cash was used in investing activities. Net cash
provided by financing activities was $183,479, relating to borrowings under
the loan agreement.

We have a loan and security agreement with B.A. Associates, Inc. which is a
corporation owned by a son-in-law of Joseph F. Kruy, our Chairman, President
and Chief Executive Officer under which we may borrow up to $1,100,000. The
balance due to B.A. Associates, Inc. at March 31, 2007 was $408,479.  We also
have notes payable of $429,643 at March 31, 2007, including $275,000 of
advances payable which are due on demand consisting of borrowings from
related parties. The notes payable balance of $154,643 includes $150,000 of
series 1 bridge financing note and $4,643 of accounts payable converted to
notes payable.

Our cash was $150,000 and $226,000 at March 31, 2007 and December 31, 2006,
respectively.  Working capital was a deficit of $2,632,000 and $2,757,000 at
March 31, 2007 and at December 31, 2006, respectively. During the quarter
ended March 31, 2007, we did not have any expenditures for capital equipment.
During fiscal 2007, we expect to acquire less than $100,000 of capital
equipment.

Our profitability and liquidity depends upon being able to maintain adequate
revenue and gross profit levels. Management has also been working to secure
additional capital. There is no assurance that such capital will be raised.

11
<PAGE>

                                 FORM 10-QSB

                 CAMBEX CORPORATION AND SUBSIDIARIES


For The Quarter Ended: March 31, 2007 Commission File:  0-6933


Item 3. Controls and Procedures

Disclosure controls and procedures are designed to ensure that information
required to be disclosed in the reports filed or submitted under the
Securities Exchange Act of 1934, as amended (the "Exchange Act") is recorded,
processed, summarized and reported, within the time period specified in the
SEC's rules and forms. Disclosure controls and procedures include, without
limitation, controls and procedures designed to ensure that information
required to be disclosed in the reports filed under the Exchange Act is
accumulated and communicated to management, including the Chief Executive
Officer and Chief Financial Officer, as appropriate, to allow timely
decisions regarding required disclosure. As of the end of the period covered
by this report, our principal executive officer and principal financial
officer, Joseph F. Kruy, has evaluated the effectiveness of the design and
operation of our disclosure controls and procedures, as defined in Rules 13a-
15(e) and 15d-15(e) under the Exchange Act and concluded that our disclosure
controls and procedures are effective so as to ensure that information
required to be disclosed in our reports filed or submitted under the Exchange
Act is recorded, processed, summarized and reported as and when required.
There were no significant changes in our internal control over financial
reporting or in other factors that could significantly affect our internal
controls over financial reporting subsequent to the date of our most recent
evaluation.

12
<PAGE>

                                 FORM 10-QSB

                    CAMBEX CORPORATION AND SUBSIDIARIES


For The Quarter Ended: March 31, 2007 Commission File:  0-6933


Part II.			OTHER INFORMATION

Item 1.   Legal Proceedings

The Company is a party to litigation and claims arising in the normal course
of its business. Barring unforeseen circumstances, management does not expect
the results of these actions to have a material adverse effect on the
Company's business or financial condition.


Item 2.   Change in Securities

          None.

Item 3.   Defaults Upon Senior Securities

          None.


Item 4.   Submission of Matters to a Vote of Security Holders

          None.


Item 5.   Other Information

          None.


Item 6.		Exhibits and Reports on Form 8-K

	(a)	Exhibits


                                EXHIBIT INDEX


The following exhibits are filed herewith or incorporated by reference
herein.

Exhibit

3.1	Restated Articles of Organization of Cambex Corporation (included as
Exhibit 3.1 to the Company's Registration Statement on Form SB-2,
declared effective with the Commission on November 7, 2000, Reg. No.
333-43294, and incorporated herein by reference).

13
<PAGE>

                                 FORM 10-QSB

                    CAMBEX CORPORATION AND SUBSIDIARIES


For The Quarter Ended: March 31, 2007 Commission File:  0-6933

Item 6. Exhibit Index (continued)

3.2	Restated By-laws of Cambex Corporation (included as Exhibit 3.2 to the
Company's Registration Statement on Form SB-2, declared effective with
the Commission on November 7, 2000, Reg. No. 333-43294, and
incorporated herein by reference).

3.3 Series A Preferred Stock Certificate of Designations (included as Exhibit
10.37 to the Company's Quarterly Report on Form 10-QSB for the quarter ended
June 30, 2002 and incorporated herein by reference).

4.1	Specimen Stock Certificate (included as Exhibit 4.1 to the Company's
Registration Statement on Form SB-2, declared effective with the
Commission on November 7, 2000, Reg. No. 333-43294, and incorporated
herein by reference).

4.2	Registration Rights Agreement among the Company and the Purchasers
identified therein (the "Sovereign Purchasers") dated as of January 18,
2000 (included as Exhibit 4.1 to the Company's Amendment to Quarterly
Report on Form 10-Q/A for the quarter ended April 1, 2000, and
incorporated herein by reference).

10.1	Employment Agreement between Joseph F. Kruy and the Company,
dated as of November 18, 1994 (included as Exhibit 10.1 to the
Company's Amendment to Quarterly Report on Form 10-Q/A for the quarter
ended April 1, 2000, and incorporated herein by reference).

10.2	Incentive Bonus Plan (included as Exhibit 10.2 to the Company's
Registration Statement on Form SB-2, declared effective with the
Commission on November 7, 2000, Reg. No. 333-43294, and incorporated
herein by reference).

10.3	1987 Combination Stock Option Plan (included as Exhibit 10.8 to
the Company's Annual Report on Form 10-K for the fiscal year ended
August 31, 1987, and incorporated herein by reference).

10.4	2000 Equity Incentive Plan (included as Exhibit 10.12 to the
Company's Annual Report on Form 10-K for the fiscal year ended December
31, 1999, and incorporated herein by reference).

10.5	Series 1 Bridge Note Purchase Agreement among the Company and the
Sovereign Purchasers dated as of January 18, 2000 (included as Exhibit
10.7 to the Company's Amendment to Quarterly Report on Form 10-Q/A for
the quarter ended April 1, 2000, and incorporated herein by reference).

14
<PAGE>


                                 FORM 10-QSB

                   CAMBEX CORPORATION AND SUBSIDIARIES


For The Quarter Ended: March 31, 2007 Commission File:  0-6933

Item 6. Exhibit Index (continued)


10.6	Escrow Agreement among the Company, the Sovereign Purchasers and
Suntrust Bank, Atlanta dated as of January 6, 2000 (included as Exhibit
10.8 to the Company's Amendment to Quarterly Report on Form 10-Q/A for
the quarter ended April 1, 2000, and incorporated herein by reference).

10.7	Placement Agent Agreement between the Company and Sovereign
Capital Advisors, LLC ("Sovereign Advisors") dated as of January 18, 2000
(included as Exhibit 10.9 to the Company's Amendment to Quarterly
Report on Form 10-Q/A for the quarter ended April 1, 2000, and
incorporated herein by reference).

10.8	Guaranty Agreement among Joseph F. Kruy, the Company and the
Sovereign Purchasers dated as of January 18, 2000. (included as Exhibit 10.10
to the Company's Amendment to Quarterly Report on Form 10-Q/A for the
quarter ended April 1, 2000, and incorporated herein by reference).

10.9	Guaranty Agreement among CyberFin Corporation, the Company and
the Sovereign Purchasers dated as of January 18, 2000 (included as Exhibit
10.11 to the Company's Amendment to Quarterly Report on Form 10-Q/A for
the quarter ended April 1, 2000, and incorporated herein by reference).

10.10	Stock Pledge Agreement by Joseph F. Kruy in favor of the
Sovereign Purchasers dated as of January 18, 2000  (included as Exhibit
10.12 to the Company's Amendment to the Quarterly Report on Form 10-Q/A
for the quarter ended April 1, 2000, and incorporated herein by
reference).

10.11	Stock Pledge Agreement by CyberFin Corporation in favor of the
Sovereign Purchasers dated as of January 18, 2000 (included as Exhibit
10.13 to the Company's Amendment to the Quarterly Report on Form 10-Q/A
for the quarter ended April 1, 2000, and incorporated herein by
reference).

10.12	Series 1 Bridge Financing Note in favor of Arab Commerce Bank
Ltd. dated as of February 9, 2000 (included as Exhibit 10.22 to the
Company's Amendment to the Quarterly Report on Form 10-Q/A for the
quarter ended April 1, 2000, and incorporated herein by reference).

15
<PAGE>

                                 FORM 10-QSB

                   CAMBEX CORPORATION AND SUBSIDIARIES


For The Quarter Ended: March 31, 2007 Commission File:  0-6933

Item 6. Exhibit Index (continued)

10.13 Loan and Security Agreement, as amended, by and between the
Company and BA Associates, Inc. (included as Exhibit 10.27 to the Company's
Registration Statement on Form SB-2 filed with the Commission on November 29,
2000, Reg. No. 333-50936, and incorporated herein by reference.)

10.14 Fifth Amendment to Loan and Security Agreement, as amended, by and
between the Company and B.A. Associates, Inc., dated as of December 27, 2000
(included as Exhibit 10.28 to the Company's Annual Report on Form 10-KSB for
the fiscal year ended December 31, 2000 and incorporated herein by
reference).

10.15 Form of Warrant Certificate between the Company and B.A. Associates,
Inc. (included as Exhibit 10.29 to the Company's Annual Report on Form 10-KSB
for the fiscal year ended December 31, 2000 and incorporated herein by
reference).

10.16 Sixth Amendment to Loan and Security Agreement, as amended, by and
between the Company and B.A. Associates, Inc., dated as of December 27,
2001(included as Exhibit 10.30 to the Company's Annual Report on Form 10-KSB
for the fiscal year ended December 31, 2002 and incorporated herein by
reference).

10.17 Lease by and between the Company and Bertech Flanders, LLC dated as of
April 24, 2003(included as Exhibit 10.33 to the Company's Quarterly Report on
10QSB for the quarter ended March 31, 2003, and incorporated herein by
reference).

31.1 Certification as required by section 302 of the Sarbanes-Oxley Act of
2002

32.1 Certification as required by section 906 of the Sarbanes-Oxley Act of
2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United
States Code).





(b) Reports on Form 8-K

None.


16
<PAGE>


                                    FORM 10-QSB

                      CAMBEX CORPORATION AND SUBSIDIARIES


For The Quarter Ended: March 31, 2007 Commission File:  0-6933



                                  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.


CAMBEX CORPORATION


By:    /s/    Joseph F. Kruy

              Joseph F. Kruy
              President and Treasurer






Dated:        May 11, 2007