UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                   FORM 10-QSB


[X]  Quarterly Report Pursuant to Section 13 or 15 (d) of the Securities
     Exchange Act of 1934

                 For the quarterly period ended: March 31, 2005
                                       or

[ ]  Transition Report Pursuant to Section 13 or 15 (d) of the Securities
     Exchange Act of 1934


                         Commission File Number: 0-24684

                            ZENEX INTERNATIONAL, INC.
                 (Name of small business issuer in its charter)

                Colorado                                    73-1587867
        (State of incorporation)                     (I.R.S. Employer ID no.)

         14220 S. Meridian Ave.                                73173
        Oklahoma City, Oklahoma                             (Zip Code)
(Address of Principal Executive Offices)

          Issuer's telephone number, including area code: 405-692-2300

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the Securities Exchange Act of 1934 during the past 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 at least the past 90
days: Yes [X] No [ ]

Shares of  Common  Stock,  $.001  par  value,  outstanding  as of May 15,  2005:
48,737,921

Transitional Small Business Disclosure Format: Yes [ ] No [X]



<PAGE>

                            ZENEX INTERNATIONAL, INC.


                                TABLE OF CONTENTS


                          PART I. FINANCIAL INFORMATION

Item 1.  Financial Statements

         Independent Accountant's Review Report                               4

         Financial Statements:
         Consolidated Balance Sheets                                        5-6
         Consolidated Statements of Operations                                7
         Consolidated Statements of Cash Flows                              8-9
         Notes to the Financial Statements                                10-17

Item 2.  Management's Discussion and Analysis or Plan of Operation        18-29

Item 3.  Controls and Procedures                                             29

                           PART II. OTHER INFORMATION

Item 1.  Legal Proceedings

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

Item 3.  Defaults Upon Senior Securities

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

Item 5.  Other Information

Item 6.  Exhibits                                                            30

         Signatures                                                          30



<PAGE>

                            ZENEX INTERNATIONAL, INC.

                         PART I - FINANCIAL INFORMATION

Item 1. Financial Statements - At March 31, 2005 and December 31, 2004 and for
        the three months ended March 31, 2005 and 2004

This quarterly report on Form 10-QSB should be read in conjunction with Zenex
International, Inc.'s Annual Report on Form 10-KSB for the year ended December
31, 2004.

<PAGE>

                     Independent Accountant's Review Report



Board of Directors and Stockholders
Zenex International, Inc.
Oklahoma City, Oklahoma


We have reviewed the accompanying consolidated balance sheets of Zenex
International, Inc. as of March 31, 2005, and the related consolidated
statements of operations and the consolidated statements of cash flows for the
three months ended March 31, 2005 and 2004. The interim financial statements are
the responsibility of the Company's management.

We conducted our review in accordance with the Standards of the Public Company
Accounting Oversight Board (United States). A review of interim financial
information consists principally of applying analytical procedures and making
inquiries of persons responsible for financial and accounting matters. It is
substantially less in scope than an audit conducted in accordance with the
standards for the Public Company Accounting Oversight Board, the objective of
which is the expression of an opinion regarding the financial statements taken
as a whole. Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material modifications that should
be made to the accompanying interim financial statements for them to be in
conformity with U.S. generally accepted accounting principles.

The December31, 2004 financial statements for Zenex International, Inc. were
audited by us and we expressed an unqualified opinion in our report dated March
17, 2005, but we have not performed any auditing procedures since that date.


Sutton Robinson Freeman & Co., P.C.
Certified Public Accountants
May 13, 2005
Tulsa, OK




<PAGE>
                            ZENEX INTERNATIONAL, INC.
                           CONSOLIDATED BALANCE SHEETS

                                                    March 31,
                                                      2005         December 31,
                                                   (Unaudited)         2004
                                                   -----------     ------------

                              Assets

Current Assets
   Cash                                            $ 1,228,577     $  2,500,561
   Contract receivables                              3,223,808        4,756,142
   Costs and estimated earnings in excess of
     billings on uncompleted contracts               1,117,619        1,363,505
   Prepaid expenses                                     70,447          109,994
   Employee and other receivables, net of
      allowance for doubtful accounts                  492,924           95,027
                                                   -----------     ------------
                                                     6,133,375        8,825,229
                                                   -----------     ------------

Non-Current Related Party Receivable                 1,746,648        1,730,340
                                                   -----------     ------------

Property and Equipment                               1,309,542        1,839,807
   Less:  accumulated depreciation                    (777,430)      (1,387,818)
                                                   -----------     ------------
                                                       532,112          451,989
                                                   -----------     ------------

Other
   Marketable equity securities                          5,166            5,740
   Deferred income tax                                  71,000           35,000
                                                   -----------     ------------
                                                        76,166           40,740
                                                   -----------     ------------

                                                   $ 8,488,301     $ 11,048,298
                                                   ===========     ============


    Liabilities and Stockholders' Equity

Current Liabilities
   Current portion of long-term debt               $   407,326     $    430,670
   Accounts and subcontract payables                 1,400,179        3,935,652
   Accrued liabilities                                 234,817          253,329
   Insurance payable                                   290,892          245,099
   Income tax payable                                  131,002          112,002
   Billings in excess of costs and estimated
     earnings on uncompleted contracts                 120,885          225,088
                                                    -----------     ------------
                                                     2,585,101        5,201,840
                                                    -----------     ------------

Long-Term Debt (Net of Current Portion)                422,615          484,782
                                                    -----------     ------------

Stockholders' Equity
   Preferred stock ($0.001 par value, 20,000,000
     shares authorized, no shares issued and
     outstanding)                                         -               -
   Common stock ($0.001 par value, 100,000,000
     shares authorized, 48,737,921 and
     48,737,921 shares issued and outstanding
     at March 31, 2005 and December 31, 2004)           48,738           48,738
   Paid-in capital                                   4,860,632        4,860,632
   Unrealized gain (loss) on available
     for sale securities                               (18,289)         (17,715)
   Retained earnings (deficit)                         589,504          470,021
                                                    -----------     ------------
                                                     5,480,585        5,361,676
                                                    -----------     ------------

                                                   $ 8,488,301      $11,048,298
                                                   ===========      ===========


<PAGE>

                            ZENEX INTERNATIONAL, INC.
                     CONSOLIDATED STATEMENTS OF OPERATIONS


                                                      Three Months Ended
                                                           March 31,
                                                      2005              2004
                                                   -----------     ------------

Revenues                                           $ 3,285,728      $ 2,396,872

Operating Expenses
   Cost of sales                                     2,670,524        2,886,464
   Selling, general and administrative                 622,919          248,262
   Warranty expense                                     19,731           43,507
                                                   -----------     ------------
                                                     3,313,174        3,178,233
                                                   -----------     ------------

Operating Income (Loss)                                (27,446)        (781,361)

Other Income (Expense)
   Interest income                                      17,476           17,559
   Gain (loss) on sale of equipment                      6,197           (4,998)
   Other income                                        107,652            9,698
                                                   -----------     ------------
                                                       131,325           22,259
                                                   -----------     ------------

Net Income (Loss) from Operations
   Before Income Taxes                                 103,879         (759,102)

   Income tax (expense) benefit                         15,604          304,064
                                                   -----------     ------------

Net Income (Loss)                                      119,483         (455,038)

Other Comprehensive Income:
   Unrealized holding gains (losses)                       574           (1,025)
   Reclassification adjustment                            -                -
                                                   -----------     ------------

Comprehensive Income (Loss)                        $   120,057      $  (456,063)
                                                   ===========     =============

     Primary Earnings (Loss) per Share             $     0.002      $    (0.010)
                                                   ===========     =============
     Fully Diluted Earnings (Loss) per Share       $     0.001      $    (0.006)
                                                   ===========     =============

    Earnings (Loss) per Share from
       Continuing Operations                       $     0.002      $    (0.010)
                                                   ===========      ============

<PAGE>
                            ZENEX INTERNATIONAL, INC.
                     CONSOLIDATED STATEMENTS OF CASH FLOWS


                                                      Three Months Ended
                                                           March 31,
                                                      2005              2004
                                                   -----------      -----------


Cash Flows from Operating Activities
   Net income (loss)                               $   119,483      $  (455,038)
                                                   -----------      -----------
   Reconciliation of net income (loss) to net cash
     provided by operating activities:

     Depreciation and amortization                      47,522           42,518
     Issuance of debt for interest expense               1,500             -
     (Gain) loss on sale of property and equipment      (6,197)           4,998
     (Increase) Decrease from changes in:
        Contract receivables                         1,532,334         (538,566)
        Costs and estimated earnings in excess of
            billings on uncompleted contracts          245,886          892,825
        Officer receivable                                -              (1,770)
        Income tax receivable                             -            (136,592)
        Related party receivable                       (16,308)         (13,772)
        Deferred income taxes                          (36,000)          (6,000)
        Prepaid expenses                                39,547           63,088
        Employee and other receivables                (397,897)          (6,009)
     Increase (Decrease) from changes in:
        Accounts payable                            (2,535,473)        (628,837)
        Insurance payable                               45,793          (25,239)
        Accrued liabilities                            (18,512)           7,441
        Income tax payable                              19,000         (161,597)
        Billings in excess of costs and estimated
           earnings on uncompleted contracts          (104,203)         299,758
                                                   -----------      -----------
   Net adjustments to net income (loss)             (1,183,008)        (207,754)
                                                   -----------      -----------
   Net cash provided (used) by operating activities (1,063,525)        (662,792)
                                                   -----------      -----------

Cash Flows from Investing Activities
   Proceeds from sale of property and equipment         72,600            5,985
   Purchase of property and equipment                 (194,048)        (109,609)
                                                   -----------      -----------
   Net cash  provided (used)  by investing activities (121,448)        (103,624)
                                                   -----------      -----------

Cash Flows from Financing Activities
   Net change in line of credit                           -             622,577
   Proceeds from long-term debt                           -                -
   Retirement of long-term debt                        (87,011)        (100,894)
                                                   -----------      -----------
   Net cash provided (used) by financing activities    (87,011)         521,683
                                                   -----------      -----------

Net Increase in Cash                                (1,271,984)        (244,733)

Cash at Beginning of Period                          2,500,561          400,407
                                                   -----------      -----------
Cash at End of Period                              $ 1,228,577      $   155,674
                                                   ===========      ===========

Supplemental Disclosure of Cash Flow
   Information

   Cash paid for:
      Interest                                     $    15,560      $    44,609
      Taxes                                              1,396              125

Supplemental Schedule of Non-Cash
   Investing and Financing Activities

   Fixed asset additions                           $      -         $      -
   Liabilities assumed or incurred                 $      -         $      -



<PAGE>
                           ZENEX INTERNATIONAL, INC.
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization and Nature of Business

Zenex International, Inc. (formerly Zenex Telecom, Inc.) was incorporated on
March 4, 1991, in the state of Colorado. On November 15, 2001, the shareholders
approved the change of the corporate name from Lone Wolf Energy, Inc. to Zenex
Telecom, Inc., which was changed on August 3, 2002, to Zenex International, Inc.
(the "Company").

The Company, through a subsidiary, Aduddell Roofing and Sheet Metal, Inc.,
("Aduddell Roofing"), is engaged in the roofing and re-roofing of industrial and
commercial buildings in the United States and its territories. The work is
performed primarily under fixed-price contracts. The lengths of the contracts
vary but are typically less than one year in duration. The Company's accounting
policies are in accordance with generally accepted accounting principles and
conform, in general, to the predominant practices of the construction industry.

During the last quarter of 2004, Aduddell Roofing contracted to provide
temporary roofing for residential properties in Florida as the result of damages
caused by three hurricanes. Revenues from contracts through the Federal
Emergency Management Administration (FEMA) amounted to approximately
$11,000,000.

Principles of Consolidation

The consolidated financial statements include the accounts of the Company and
its wholly owned subsidiary, Aduddell Roofing & Sheet Metal, Inc. The financial
statements include all adjustments that, in the opinion of management, are
necessary in order to make the financial statements not misleading. All
significant intercompany accounts and transactions are eliminated in
consolidation.

Revenue Recognition

The Company recognizes fixed price contract revenues on the
percentage-of-completion method of accounting, measured by the percentage of
cost incurred to date to the estimated total cost for each contract. Management
uses this method because total cost is considered to be the best available
measure of progress on the contracts. Revenues from cost-plus-fee contracts are
recognized on the basis of costs incurred during the period plus the fee earned,
measured by the cost-to-cost method.

Contract costs include all direct material and labor costs and those indirect
costs related to contract performance such as indirect labor, interest,
depreciation and supplies. General and administrative costs are charged to
expense as incurred. Provisions for estimated losses on uncompleted contracts
are made in the period in which such losses are determined. Changes in job
performance, job conditions, and estimated profitability may result in revisions
to costs and income, which are recognized in the period in which the revisions
are determined.

The asset "Costs and estimated earnings in excess of billings on uncompleted
contracts" represents revenues recognized in excess of amounts billed. The
liability, "Billings in excess of costs and estimated earnings on uncompleted
contracts" represents billings in excess of revenues recognized.

Cash and Cash Equivalents

For purposes of the Consolidated Statement of Cash Flows, short-term
investments, which have maturity of ninety days or less, are considered cash
equivalents.

Investments

The Company accounts for its investments in marketable securities using
Statement of Financial Accounting Standards No. 115 "Accounting for Certain
Investments in Debt and Equity Securities" ("SFAS No. 115"). This standard
requires that investments in equity securities that have a readily determinable
fair value and all investments in debt securities be adjusted to market value at
the end of each accounting period. Unrealized market value gains and losses are
charged to earnings if the securities are traded for short-term profit.
Otherwise, such unrealized gains and losses are charged or credited to a
separate component of shareholders' equity.

Management determines the proper classification of investments in obligations
with fixed maturities and marketable equity securities at the time of purchase
and reevaluates such designations as of each balance sheet date. At March 31,
2005 and December 31, 2004, all securities covered by SFAS No. 115 were
designated as available-for-sale. Accordingly, these securities are stated at
fair value, with unrealized gains and losses reported in a separate component of
shareholders' equity. Any realized gains and losses on sales of investments, as
determined on a specific identification basis, are included in the Statement of
Income.

Fair Value of Financial Instruments

The Company's financial instruments include cash, receivables, notes receivable,
marketable securities, short-term payables and notes payable. The carrying
amounts of cash, receivables, and short-term payables approximate fair value due
to their short-term nature. Marketable equity securities' fair values are
estimates based on quoted market prices. The carrying amounts of notes
receivable and payable approximate fair value based on interest rates currently
available.

Income Taxes

The Company accounts for income taxes in accordance with Statement of Financial
Accounting Standards (SFAS) No. 109, Accounting for Income Taxes. SFAS No. 109
requires the recognition of deferred tax assets and liabilities for the future
tax consequences attributable to temporary differences between the financial
statement carrying amounts of existing assets and liabilities and their
respective tax bases. In addition, SFAS No. 109 requires the recognition of
future tax benefits, such as net operating loss carryforwards, to the extent
that realization of such benefits is more likely than not. The amount of
deferred tax liabilities or assets is calculated by applying the provisions of
enacted tax laws to determine the amount of taxes payable or refundable
currently or in future years.

Net Income (Loss) Per Share

The Company computes net income (loss) per share in accordance with SFAS No.
128, Earnings per Share and SEC Staff Accounting Bulletin No. 98 ("SAB 98").
Under the provisions of SFAS No. 128 and SAB 98, basic net income (loss) per
share is calculated by dividing net income (loss) available to common
shareholders for the period by the weighted average number of common shares
outstanding during the period.

Use of Estimates

The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and the 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.

Reclassifications:

Certain amounts for 2004 have been classified to conform to the 2005
presentation. These had no impact on previously reported results of operations
or shareholder's equity.

NOTE 2 - CONTRACT RECEIVABLES

Contracts receivables consist of the following:

                                                     March 31,      December 31,
                                                       2005             2004
                                                   -----------      -----------

        Completed contracts                        $ 2,069,011      $ 1,384,011
        Contracts in progress                          747,112        2,919,282
        Retainage                                      407,685          452,849
                                                   -----------      -----------
                                                     3,223,808        4,756,142
        Less allowance for doubtful amounts               -                -
                                                   -----------      -----------
                                                   $ 3,223,808      $ 4,756,142
                                                   ==========       ===========

NOTE 3 - UNCOMPLETED CONTRACTS

Costs, estimated earnings, and billings on uncompleted contracts, are as
follows:

                                                     March 31,      December 31,
                                                       2005             2004
                                                   -----------      -----------

        Costs incurred on uncompleted contracts    $ 5,437,180      $14,201,734
        Estimated earnings (loss)                      870,228        2,633,964
                                                   -----------      -----------
                                                     6,307,408       16,835,698
        Billings to date                             5,310,674       15,697,281
                                                   -----------      -----------
                                                   $   996,734      $ 1,138,417
                                                   ===========      ===========

Included in the accompanying balance sheet under the following captions:

                                                     March 31,      December 31,
                                                       2005             2004
                                                   -----------      -----------
        Costs and estimated earnings in
          excess of billings on
          uncompleted contracts                    $ 1,117,619      $ 1,363,505

        Billings in excess of costs and
          estimated earnings on
          uncompleted contracts                       (120,885)        (225,088)
                                                   -----------      -----------
                                                   $   996,734      $ 1,138,417
                                                   ===========      ===========

NOTE 4 - PROPERTY AND EQUIPMENT

Property and equipment are recorded at cost. Expenditures for repairs and
maintenance are charged to operations when incurred. Major improvements and
renewals that extend the useful life of the related asset are capitalized and
depreciated over the remaining useful life. Depreciation and amortization are
computed for financial and income tax reporting purposes using straight-line and
accelerated methods over estimated useful lives ranging from five to ten years.
Depreciation expense for the three months ended March 31, 2005, was $47,522. The
following table summarizes the classifications of property and equipment, total
accumulated depreciation and the related estimated useful lives:

    Property and Equipment                     Cost                    Years
---------------------------------    ----------------------------    ---------

                                      March 31,      December 31,
                                        2005             2004

Field and shop equipment             $  375,741      $   465,869         5-7
Office furniture and equipment          182,720          193,596         5-10
Transportation equipment                721,673        1,150,934          5
Leasehold improvements                   29,408           29,408          39
                                     ----------      -----------
                                      1,309,542        1,839,807
Less: accumulated depreciation          777,430        1,387,818
                                     ----------      -----------
Net property and equipment           $  532,112      $   451,989


NOTE 5 - LINE OF CREDIT

The Company has a $2,000,000 revolving line of credit. The line bears interest
at 1.25% over the Wall Street Journal Prime Rate (currently 7.00) and is secured
by all accounts, property and equipment and the guaranty of the principal
shareholder. The line matures on November 14, 2005. There were no outstanding
advances at March 31, 2005, and December 31, 2004.

NOTE 6 - LONG-TERM DEBT

The Company has the following long-term debt as of:

                                                     March 31,      December 31,
                                                       2005             2004
                                                   -----------      -----------

Note payable secured by the personal guaranty
of certain Directors, bearing interest at 7.5%
due in monthly installments of $8,673 through
June 2006                                          $   367,494      $   386,987

Note payable secured by all accounts, equipment
and general intangibles, bearing interest at
2.75% over New York Prime, with a maximum of 7.75%
and a minimum of 5.75% (7.75%) due in monthly
installments of $17,581 through November 2006          326,714          372,924

Note payable to shareholder bearing interest
at 5% due in monthly installments of $5,000
with a balloon payment in September 2005               121,500          132,768

Non-interest bearing note secured by
transportation equipment due in varying monthly
installments through October 2005                       14,233           22,773
                                                   -----------      -----------
                                                       829,941          915,452
Less: current portion of long-term debt                407,326          430,670
                                                   -----------      -----------
                                                   $   422,615      $   484,782
                                                   ===========      ===========


All long-term debt matures prior to December 31, 2006. Interest expense for the
three months ended March 31, 2005, was $17,060.


NOTE 7 - LETTER OF CREDIT

At March 31, 2005 the Company had a $175,000 letter of credit issued to its
insurance carrier that matures on January 16, 2006.


NOTE 8 - INCOME TAXES

At December 31, 2004, the Company had net operating losses of approximately
$350,000 available to reduce future federal and state taxable income. Unless
utilized, the carry forward amounts will begin to expire in 2012. For federal
and state tax purposes, the Company's net operating loss carry forward amounts
are subject to an annual limitation due to a greater than 50% change in stock
ownership which occurred in 2002, as defined by federal and state tax law.

Taxable temporary differences result principally from the excess of depreciation
for tax purposes over the amount deducted for financial reporting purposes.
Deductible temporary differences and the operating loss carry forward, giving
rise to deferred tax assets, are reduced by a valuation allowance. The Company
has established a valuation allowance for a portion of its net deferred tax
assets due to the ownership change limitation on the use of the loss carry
forward.

The net deferred tax asset consisted of the following components:

                                                     March 31,      December 31,
                                                       2005             2004
                                                   -----------      -----------

Deferred tax liability on depreciation             $   (30,000)     $   (85,000)
Deferred tax asset for loss carry forward              304,000          323,000
                                                   -----------      -----------
Deferred tax asset                                     274,000          238,000

Less: valuation allowance                              203,000          203,000
                                                   -----------      -----------
Net deferred tax asset                             $    71,000      $    35,000
                                                   ===========      ===========

NOTE 9 - RELATED PARTY TRANSACTION

The Company engaged in certain transactions with Tim Aduddell, a majority
shareholder of the company and entities owned by Tim Aduddell.

The Company has a note receivable from an entity owned by Tim Aduddell. The loan
is secured by marketable securities and a personal guaranty. Interest is accrued
quarterly based on the federal mid-term rate and added to the note principal.
Interest income on the note for the three months ended March 31, 2005 totaled
$16,308. The balance of the note receivable totaled $1,746,648 and $1,730,340 as
of March 31, 2005, and December 31, 2004, respectively.

The Company has a note payable to Tim Aduddell bearing interest at 5%, due in
monthly installments of $5,000 with a balloon payment in September 2005. The
balance of the note payable totaled $121,500 and $132,768 as of March 31, 2005
and December 31, 2004, respectively.

The Company leases its office, warehouse and yard facilities from Aduddell
Holdings, Inc., a corporation wholly-owned by Tim Aduddell, a majority
shareholder of the Company. The lease agreement is for one year and expires on
September 30, 2005. The monthly lease payments are $16,250. For the three months
ended March 31, 2004 rent expense totaled $48,750.


NOTE 10 - BACKLOG

The amount of revenue the Company expects to realize from work to be performed
on uncompleted contracts in progress and from contractual agreements on which
work had not yet begun at March 31, 2005, was $7,466,988.


NOTE 11 - COMMON STOCK TRANSACTIONS

The Company entered into a Business Consulting Agreement (the "Agreement") with
Benchmark Capital Consulting, Inc. ("Benchmark") effective June 17, 2002. Under
the terms of the Agreement, Benchmark agreed to provide transaction advisory
service to the Company.

Under the Agreement, Benchmark was to receive $100,000 and 4.0 million shares of
fully registered common stock. The Company paid Benchmark $100,000 and issued
and registered on a Form S-8 1.0 million shares of common stock. Benchmark
failed to perform under the Agreement, and the remaining 3.0 million shares were
cancelled in 2003.


NOTE 12 - STOCK OPTIONS

In accordance with the terms of a January 2001 loan agreement with a
shareholder, a five-year option was granted for the purchase of 1,200,000 shares
of the Company's common stock for $0.10 per share.

In connection with the terms of the Agreement and Plan of Split Off and Merger,
signed September 27, 2002, Tim Aduddell was granted an option to purchase
30,000,000 shares of common stock for $0.04 per share.

In connection with the financing of certain equipment, 200,000 options at $0.08
per share were granted.


NOTE 13 - EARNINGS PER SHARE

                                                     March 31,      December 31,
                                                       2005             2004
                                                   -----------      -----------

Primary earnings per share: (in thousands)
  Common shares outstanding                         48,737,921       48,737,921
                                                   -----------      -----------
  Weighted average shares outstanding               48,737,921       48,737,921
                                                   -----------      -----------
  Earnings (loss) per share                        $      .002      $      .032
                                                   ===========      ===========

Fully diluted earnings per share:
  Common shares outstanding                         80,137,921       80,137,921
                                                   -----------      -----------
  Weighted average shares outstanding               80,137,921       80,137,921
                                                   -----------      -----------
  Earnings (loss) per share                        $      .001      $      .019
                                                   ===========      ===========

NOTE 14 - COMMITMENTS AND CONTINGENCIES

In regard to the sale of assets and liquidation of Zenex Communications in 2002,
the Company is the Guarantor on notes with an outstanding balance of $279,294 at
March 31, 2005. In the event that the purchaser should default on the required
payment obligations, the Company would be required to service approximately
$7,000 in monthly principal and interest payments.

The Company warrants its work in the normal course of business. In management's
opinion, there were no outstanding claims which would have a material effect on
the Company's operations or financial position.

The Company maintains cash balances at several financial institutions. Accounts
at each institution are insured by the Federal Deposit Insurance Corporation up
to $100,000 any amounts in excess of this would not be insured if the
institution should fail. At times, cash in the deposit accounts may exceed the
federally insured limits. The Company has not experienced any losses in such
accounts and believes that it is not exposed to any significant risk.


NOTE 15 - CONCENTRATIONS

In connection with providing service to customers, Aduddell Roofing does not
have contractual agreements with suppliers. The material and supplies used in
the business are readily available from several vendors.

Although Aduddell Roofing had a significant number of customers for the period
ended March 31, 2005, three customers accounted for 21%, 18%, and 11% of the
revenue, respectively. Two customers accounted for 38% and 10% of the revenue
for the period ended December 31, 2004.

The Company's contract receivables at March 31, 2005, and December 31, 2004, are
from a small number of companies in various industries which could be subject to
business cycle variations. As of March 31, 2005, the Company had two customers
that accounted for 61% of the contracts receivable. As of December 31, 2004, the
Company had three customers that accounted for 66% of the contracts receivable.
This concentration subjects the Company to a credit risk if the general economy
or the companies fail to perform.



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

         We are engaged in the commercial and industrial roofing and re-roofing
businesses through Aduddell Roofing & Sheet Metal, Inc. ("Aduddell Roofing").
The terms "Zenex", "we", "our" and "us" and other similar terms refer to Zenex
International, Inc. and its direct and indirect subsidiaries, unless we specify
otherwise, Zenex (R) is our registered trademark. All other trade names,
trademarks and product names in this report are the property of their respective
owners.

                                                      Forward-Looking Statements

         This quarterly report on Form 10-QSB includes forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as
amended (the Securities Act), and Section 21E of the Securities Exchange Act of
1934, as amended (the Exchange Act), which can be identified by the use of
forward-looking terminology such as: "may", "might", "could", "would",
"believe", "expect", "intend", "plan", "seek", "anticipate", "estimate",
"project" or "continue" or the negative thereof or other variations thereon or
comparable terminology. All statements other than statements of historical fact
included in this quarterly report on Form 10-QSB, including without limitation,
the statements under "Item 2. Management's Discussion and Analysis " regarding
our financial position and liquidity, are forward-looking statements. These
forward-looking statements also include, but are not limited to:

o        our ability to expand Zenex's business;

o        actions of our competitors; and

o             statements regarding our anticipated revenues, expense levels,
              liquidity and capital resources and projections of when we will
              achieve break-even or positive operating cash flow.

         Although we believe the expectations reflected in such forward-looking
statements are reasonable, we can give no assurance such expectations will prove
to have been correct. Important factors with respect to any such forward-looking
statements, including certain risks and uncertainties that could cause actual
results to differ materially from our expectations (Cautionary Statements), are
disclosed in this quarterly report on Form 10-QSB. We do not undertake to update
forward looking statements to reflect the impact of circumstances or events that
arise after the date the forward looking statement was made.

         These forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results, performance
or achievements to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking statements. All
subsequent written and oral forward-looking statements attributable to us or
persons acting on our behalf are expressly qualified in their entirety by the
Cautionary Statements. See "Risk Factors" in our annual report on Form 10-KSB
for further information regarding risks and uncertainties related to our
businesses.

         The following discussion should be read in conjunction with our
consolidated financial statements and notes thereto.

Introduction

         Our revenues are derived primarily from comprehensive roofing services,
including re-roofing, restoration and repair, new roof construction, sheet metal
fabrication and waterproofing. We also provide limited residential roofing
services. We also offer maintenance services, which provide recurring revenues
and ongoing interaction with our customers. Almost all our revenues for the
three months ended March 31, 2005, were derived from re-roofing, restoration,
and repair services.

         Revenues from fixed-price construction and renovation contracts are
generally accounted for on a percentage-of-completion basis using the
cost-to-cost method. The cost-to-cost method measures the percentage completion
of a contract based on total costs incurred to date compared to total estimated
costs to completion. Cost of revenues consists primarily of compensation and
benefits to field staff, materials, subcontracted services, parts and supplies,
fuel and other vehicle expenses, equipment rentals and allocation of selling,
general and administrative expenses. Our gross profit percentage, which is gross
profit expressed as a percentage of revenues, depends primarily on the relative
proportions of costs related to labor and materials. On jobs in which a higher
percentage of the cost of revenues consists of labor costs, we typically achieve
higher gross margins than on jobs where materials represent more of the cost of
revenues. Margins are also affected by the competitive bidding process and the
technical difficulty of the project. New roof construction work is more likely
to be competitively bid than re-roofing, restoration and repair. Typically,
re-roofing, restoration and repair jobs are more labor intensive and have higher
margins than new roof construction.

Seasonal and Climatic Factors Affecting the Commercial Roofing Industry

         The construction industry, including the roofing industry, is
influenced by seasonal factors, as construction activities are usually lower
during winter months than other periods. We attempt to increase winter
productivity by concentrating our business in the southern half of the United
States and by expanding our sales and marketing efforts. Nevertheless, we expect
our revenues and operating results generally will be lower in the first and
fourth quarters. The roofing industry is also affected by natural disasters,
such as tornadoes, hurricanes and other windstorms. Because of the need for
immediate repairs and since the costs of repair are typically covered by
insurance, the margins are higher on disaster-related work than on discretionary
work. Since disaster-related work requires an immediate response, we must
maintain a capacity sufficient to respond to these needs. The absence of natural
disasters will result in lower revenues, unused capacity, the acceptance of low
margin work, and higher relative operating expenses.

Retention

         Retention is typically required by roofing contracts for commercial
construction. Retention (defined as amounts withheld from progress billings
until final and satisfactory contract completion) is typical on new commercial
construction work for both the sheet metal and roofing operations. Retention
typically ranges from 5% to 10% of the contract, and may be reduced at the time
of final billing of our portion of the contract. The balance may be held until
final closeout of the project, including the work of other subcontractors. The
amount of retention will vary based upon the mix and timing of contract
completion.


Critical Accounting Policies and Estimates

         General. Our discussion and analysis of financial condition and results
of operations are based upon our December 31, 2004 consolidated balance sheet,
which was prepared in accordance with accounting principles generally accepted
in the United States, and our financial statements for the three months ended as
of March 31, 2005 and 2004, that are reviewed in accordance with The Standards
of the Public Company Accounting Oversight Board (United States). The
preparation of these financial statements requires us to make estimates and
judgments that affect the reported amounts of assets, liabilities, revenues and
expenses, and related disclosure of contingent assets and liabilities. On an
ongoing basis, we evaluate our estimates, including those related to allowance
for doubtful accounts, the useful lives of fixed assets, impairment of
long-lived assets and income taxes. We base our estimates on historical
experience and on various other assumptions that we believe to be reasonable
under the circumstances, the results of which form the basis for making
judgments about the carrying values of assets and liabilities that are not
readily apparent from other sources. Actual results may differ from these
estimates under different assumptions or conditions.

         We believe the following critical accounting policies affect our more
significant judgments and estimates used in the preparation of our consolidated
financial statements.

         Revenue Recognition. We recognize fixed price contract revenues on the
percentage-of-completion method of accounting, measured by the percentage of
cost incurred to date to the estimated total cost for each contract. We consider
the total cost method to be the best available measure of progress on the
contracts. We recognize revenues from cost-plus-fee contracts based on costs
incurred during the period plus the fee earned, measured by the cost-to-cost
method.

         We are working in Florida under Federal Emergency Management Agency
arrangements made in response to the hurricane damage that occurred in the
summer of 2004. These arrangements pay providers based on the square footage of
roofing material installed.

          Contract costs include all direct material and labor costs and those
indirect costs related to contract performance, such as indirect labor,
interest, depreciation and supplies. Our general and administrative costs are
charged to expense as incurred. We make provisions for estimated losses on
uncompleted contracts in the period in which such losses are determined. Changes
in job performance, job conditions, budgeting variances and estimated
profitability may result in revisions to costs and income, which we recognize in
the period in which the revisions are determined.

         The asset "Costs and estimated earnings in excess of billings on
uncompleted contracts" represents revenues recognized in excess of amounts
billed. This asset occurs when revenues, as determined by the
percentage-of-completion method, exceed the actual billings. The liability
"Billings in excess of costs and estimated earnings on uncompleted contracts"
represents billings in excess of revenues recognized. This liability occurs when
actual billings exceed accrued revenues.

          Property and Equipment. Property and equipment are stated at cost, net
of accumulated depreciation and amortization. Property and equipment are
depreciated using straight-line and accelerated methods over the estimated
useful lives of the assets, which range from five to ten years.

         Changes from the Prior Period. We have not made any material changes to
our critical accounting estimates or assumptions or the judgments affecting the
application of those estimates or assumptions.


Results of Operations

         Revenues for the Quarter Ended. Revenues increased from $2,396,872 for
the three months ended March 3, 2004 to $3,285,728 for the three months ended
March 31, 2005. Our revenues are significantly affected by the presence or
absence of natural disaster related work such as tornados, hurricanes and other
windstorms. Revenues for the three months ended March 31, 2005 were higher than
normal due to the substantial amount of hurricane related work in Florida
obtained during the fourth quarter of 2004. During the last quarter of 2004, we
contracted to provide temporary roofing for residential properties in Florida
that were damaged by the hurricanes. Additionally, we have expanded our sales
and marketing efforts to increase winter productivity by concentrating our
business in the southern half of the United States. The increased marketing and
remaining hurricane work contributed to a 37% increase in prior year revenues
and stopped the normal seasonal trend of significantly lower first quarter
revenues.

         Operating Expenses for the Quarter Ended. Operating expenses for the
three months ended March 31, 2005, were $3,313,174 compared to expenses of
$3,178,233 for the three months ended March 31, 2004. Operating expenses as a
percentage of revenues for the three months ended March 31, 2005 and 2004 were
101% and 132%, respectively, a decrease of 31%. The decrease from 2004 is
principally due to our increased revenues from 2004. Since we must maintain
capacity to perform when natural disasters occur, our costs are less elastic and
do not normally move in direct correlation with our revenues. Operating expenses
were relatively static, but were affected by increases in fuel costs and labor
costs. We are expanding our market and building relationships, which we believe
will improve our profit margins over the long term.

         Other Income for the Quarter Ended. Other Income for the three months
ended March 31, 2005 was $131,325 compared to Other Income of $22,259 for the
three months ended March 31, 2004. The increase in other income is primarily
attributable to income derived from the projects performed by Aduddell
Residential Roofing, Inc., a non-affiliate entity, on our behalf in Florida as a
result of the hurricanes. We derived income of $97,842 for the three months
ended March 31, 2005 as a result of the fees paid to us by Aduddell Residential
Roofing, Inc.

         Net Income/Loss for the Quarter Ended. Net income for the three months
ended March 31, 2005, was $119,483 compared to a net loss of $455,038 for the
three months ended March 31, 2004. These results were influenced by the factors
identified above in Revenues and Operating Expenses for the Quarter.

         Off-Balance Sheet Arrangements. There have been no material changes to
the off-balance sheet arrangements (consisting of operating leases and a loan
guaranty) that we discussed in our annual report on Form 10-KSB.

Liquidity and Capital Resources

         From December 31, 2004 to March 31, 2005, total assets decreased from
$11,048,298 to $8,488,301 liabilities decreased from $5,686,622 to $3,007,716
and shareholder's equity increased from $5,361,676to $5,480,585_. The decrease
in assets comes from increased payments of accounts payable and long-term debt
and the disposal of assets that were obsolete or not in service.

         Net cash decreased from $2,500,561 at December 31, 2004 to $1,228,577
at March 31, 2005, primarily due to the reduction in accounts payable from
$3,935,652 at December 31, 2004 to $1,400,179 at March 31, 2005. For the three
months ended March 31, 2005, net cash used by operating activities was
$1,063,525. Net cash used in investing activities during this period was
$121,448, which represented the difference in the cost of assets purchased over
the proceeds of assets sold. Net cash used in financing activities during this
period was $87,011, which was all applied to the reduction of long-term debt. At
March 31, 2005, we had working capital of $3,548,274 compared to working capital
at December 31, 2004 of $3,623,389. The decrease in working capital resulted
from asset additions and repayment of long-term debt with cash instead of
financing.

         We have a $2,000,000 line of credit with a bank that bears interest at
1.25% above the Wall Street Journal prime rate. As of March 31, 2005, all
$2,000,000 was available for our use under the line of credit.

         At March 31, 2005 our long-term debt was $829,941 compared with
$915,452 at December 31, 2004. The decrease was due to repayments of our
outstanding debt made from cash generated from operations.


Adequacy of Current Liquidity

         We meet all of our funding needs for ongoing operations with internally
generated cash flows from operations, access to our line of credit and with
existing cash and short-term investment balances. We believe that existing cash,
cash equivalents, short-term investments, and our line of credit together with
cash generated from operations, will be sufficient to meet our cash requirements
for the foreseeable future.




Item 3. Controls and Procedures

         As required by Rule 13a-15 under the Securities Exchange Act of 1934,
as of the filing date of this report, we carried out an evaluation of the
effectiveness of the design and operation of our disclosure controls and
procedures. This evaluation was carried out under the supervision and with the
participation of our principal executive officer and our principal financial
officer, who concluded that our disclosure controls and procedures are
effective. There have been no significant changes in our internal controls or in
other factors, which could significantly affect internal controls subsequent to
the date we carried out our evaluation.

         Disclosure controls and procedures are controls and other procedures
that are designed to ensure that information required to be disclosed in our
reports filed or submitted under the Securities Exchange Act is recorded,
processed, summarized and reported, within the time periods specified in the
Securities and Exchange Commission's rules and forms. Disclosure controls and
procedures include, without limitation, controls and procedures designed to
ensure that information required to be disclosed in our reports filed under the
Exchange Act is accumulated and communicated to management, including our
principal executive officer and our principal financial officer, as appropriate,
to allow timely decisions regarding required disclosure.

                           PART II - OTHER INFORMATION

Item 1. Legal Proceedings

         None.

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

         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

       3.1        Amended and Restated Articles of Incorporation of Zenex (filed
                  as exhibit to our Form S-3 Registration Statement filed on
                  August 2, 2000 and incorporated by reference herein)

       3.2        Amended and Restated Bylaws of Zenex (filed as exhibit to our
                  Form S-3 Registration Statement filed on August 2, 2000 and
                  incorporated by reference herein).

       3.3        Amendment to the Articles of Incorporation of Lone Wolf
                  Energy, Inc. changing the name to Zenex Telecom, Inc.
                  effective November 29, 2001 (filed as exhibit to our Form 8-K
                  filed on November 28, 2001 and incorporated by reference
                  herein)

       3.4        Amendment to the Articles of Incorporation changing Zenex
                  Telecom, Inc. to Zenex International, Inc. effective August 6,
                  2002 (filed as exhibit to our Form 8-K filed on August 15,
                  2002 and incorporated by reference herein)

       10.1       Agreement and Plan Reorganization dated May 5, 2000, by and
                  among Lone Wolf Energy, Inc., Prestige Investments, Inc.,
                  Zenex Long Distance, Inc., and others (filed as exhibit to
                  our Form 8-K filed on May 19,2000 and incorporated by
                  reference herein)

       10.2       Plan and Agreement of Merger dated May 5, 2000, by and among
                  Lone Energy, Inc., Lone Wolf Acquisition Sub I, Inc.,
                  ChurchLink.com, Inc. and Switchless Resellers Services,
                  Inc. (filed as exhibit to our Form S-3 Registration Statement
                  filed on August 2, 2000 and incorporated by reference herein).

       10.3       Registration Rights Agreement dated May 5, 2000, by and
                  between Lone Energy, Inc. and Switchless Reseller Services,
                  Inc. (filed as exhibit to our Form S-3 Registration Statement
                  filed on August 2, 2000 and incorporated by reference herein).

       10.4       Stock Purchase Agreement executed as of March 7, 2002 (filed
                  as exhibit to our Form 8-K filed on March 19, 2002 and
                  incorporated by reference herein)

       10.5       Purchase Agreement dated November 25, 2002, with Red River
                  Network, LLC (filed as exhibit to the Registrant's Annual
                  Report on Form 10-KSB for the year ended December 31, 2002 and
                  incorporated by reference herein)

       10.6       Option Agreement dated November 25, 2002, with Red River
                  Network, LLC, as amended (filed as exhibit to our Annual
                  Report on Form 10-KSB for the year ended December 31, 2002 and
                  incorporated by reference herein)

       10.7       Service Agreement dated November 25, 2002, with Red River
                  Network, LLC, as amended (filed as exhibit to our Annual
                  Report on Form 10-KSB for the year ended December 31, 2002 and
                  incorporated by reference herein)

       10.8       Assignment Agreement dated December 4, 2002, between Time
                  Advisors, L.P. and Red River Network, LLC (filed as exhibit to
                  our Annual Report on Form 10-KSB for the year ended December
                  31, 2002 and incorporated by reference herein)

       15*        Letter re unaudited interim financial information

       31.1* Rule 13a-14(a) Certification of Chief Executive Officer

       31.2* Rule 13a-14(a) Certification of Chief Financial Officer

       32.1* Section 1350 Certification of Chief Executive Officer

       32.2* Section 1350 Certification of Chief Financial Officer

*Filed herewith



<PAGE>



                                   SIGNATURES


         In accordance with Section 13 or 15(d) of the Exchange Act, the
registrant caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.


                         Zenex International, Inc.


Date:                    By:    RON CARTE
May 16, 2005                    Ron Carte
                                Chairman, President and Chief Executive Officer

Date:                    By:    DEBRA G. MOREHEAD
May 16, 2005                    Debra G. Morehead
                                Chief Financial Officer







<PAGE>

<TABLE>
<CAPTION>
                                  EXHIBIT INDEX
<S>       <C>                                                           <C>
Exhibit No.                 Description

   3.1    Amended and Restated Articles of Incorporation                Incorporated herein by reference
          of Zenex (filed as exhibit to our Form S-3 Registration
          Statement filed on August 2, 2000
          and incorporated by reference herein)

   3.2    Amended and Restated Bylaws of Zenex (filed as                Incorporated herein by reference
          exhibit to our Form S-3 Registration Statement filed on
          August 2, 2000 and incorporated by reference herein).

   3.3    Amendment to the Articles of Incorporation of                 Incorporated herein by reference
          Lone Wolf Energy, Inc. changing the name to
          Zenex Telecom, Inc. effective November 29, 2001
          (filed as exhibit to our Form 8-K filed on
          November 28, 2001 and incorporated by reference
          herein)

   3.4    Amendment to the Articles of Incorporation                    Incorporated herein by reference
          changing Zenex Telecom, Inc. to Zenex
          International, Inc. effective August 6, 2002
          (filed as exhibit to our Form 8-K filed on
          August 15, 2002 and incorporated by reference
          herein)

   10.1   Agreement and Plan Reorganization dated May 5,                Incorporated herein by reference
          2000, by and among Lone Wolf Energy, Inc.,
          Prestige Investments, Inc., Zenex Long
          Distance, Inc., and others (filed as exhibit to
          our Form 8-K filed on May 19,2000 and
          incorporated by reference herein)

   10.2   Plan and Agreement of Merger dated May 5, 2000,               Incorporated herein by reference
          by and among Lone Energy, Inc., Lone Wolf
          Acquisition Sub I, Inc., ChurchLink.com, Inc.
          and Switchless Resellers Services, Inc. (filed
          as exhibit to our Form S-3 Registration Statement
          filed on August 2, 2000 and incorporated by
          reference herein).

   10.3   Registration Rights Agreement dated May 5,                    Incorporated herein by reference
          2000, by and between Lone Energy, Inc. and
          Switchless Reseller Services, Inc. (filed as
          exhibit to our Form S-3 Registration Statement
          filed on August 2, 2000 and incorporated by
          reference herein).

   10.4   Stock Purchase Agreement executed as of March                 Incorporated herein by reference
          7, 2002 (filed as exhibit to our Form 8-K filed
          on March 19, 2002 and incorporated by
          reference herein)

   10.5   Purchase Agreement dated November 25, 2002,                   Incorporated herein by reference
          with Red River Network, LLC (filed as exhibit to the
          Registrant's Annual Report on Form 10-KSB for the year
          ended December 31, 2002 and
          incorporated by reference herein)

   10.6   Option Agreement dated November 25, 2002, with                Incorporated herein by reference
          Red River Network, LLC, as amended (filed as exhibit
          to our Annual Report on Form 10-KSB for the year
          ended December 31, 2002 and incorporated by
          reference herein)

   10.7   Service Agreement dated November 25, 2002, with               Incorporated herein by reference
          Red River Network, LLC, as amended (filed as
          exhibit to our Annual Report on Form 10-KSB for
          the year ended December 31, 2002 and incorporated
          by reference herein)

   10.8   Assignment Agreement dated December 4, 2002,                  Incorporated herein by reference
          between Time Advisors, L.P. and Red River
          Network, LLC (filed as exhibit to our Annual
          Report on Form 10-KSB for the year ended
          December 31, 2002 and incorporated by reference
          herein)

    15    Letter re unaudited interim financial                         Filed herewith electronically
          information

    31.1  Rule 13a-14(a) Certification of Chief Executive Officer       Filed herewith electronically

    31.2  Rule 13a-14(a) Certification of Chief Financial Officer       Filed herewith electronically

    32.1  Section 1350 Certification of Chief Executive Officer         Filed herewith electronically

    32.2  Section 1350 Certification of Chief Financial Officer         Filed herewith electronically

</TABLE>