SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report (Date of earliest event reported):  March 31, 2005



                                   INYX, INC.

             (Exact name of registrant as specified in its charter)


           Nevada                     333-83152               75-2870720
           ------                     ---------               ----------
(State or other jurisdiction         (Commission           (I.R.S. Employer
       of incorporation)             File Number)          Identification No.)

                825 Third Avenue, 40th Floor, New York, NY 10022
               (Address of principal executive offices) (Zip Code)
       Registrant's telephone number, including area code: (212) 838-1111

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[_]   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

[_]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

[_]   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

[_]   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))

<PAGE>

Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an
Off-Balance Sheet Arrangement of a Registrant

      On March 31, 2005, the Registrant  entered into a new non-dilutive,  asset
base  revolving  credit,  term loan and security  agreement  ("Debt  Agreement")
totaling $46 million with  Westernbank  Business  Credit Division of Westernbank
Puerto Rico,  Puerto Rico's second largest bank and a wholly owned subsidiary of
W Holding Company,  Inc. The Debt Agreement provides up to $10.0 million under a
revolving line of credit (the  "Revolver")  secured by accounts  receivables and
inventory  and up to $36.0  million under a series of four term loans (the "Term
Loans")  secured by the Assets of the Registrant and it's  subsidiary  Inyx USA.
The Term  Loans  consist  of up to $5.0  million  under a 5 year  Term  Loan for
purchases of new Property,  Plant and Equipment,  a $14.2  million,  5 year Term
Loan on  existing  on  Equipment,  an $11.8  million,  15 year Term Loan on Real
Property and a $5.0 million  mezzanine  Term line secured by all other assets of
the Registrant.

      The Revolver has a three year term and bears  interest at the  Westernbank
prime rate plus 1.0%. The  availability on the Revolver is based on a percentage
of our  accounts  receivable,  unbilled  finished  good  inventory  and  raw and
in-process  inventory.   The  first  three  Term  Loans  bear  interest  at  the
Westernbank  prime rate plus 2.0% with monthly  payments  commencing  on July 1,
2005 through  maturity.  The mezzanine  term loan bears  interest at the rate of
15.0%  with  monthly  principal  payments  commencing  on July 1,  2005  through
maturity.

      The  availability  under the Debt  Agreement  allowed  the  Registrant  to
complete   the   acquisition   of  certain   assets  and   business  of  Aventis
Pharmaceuticals Puerto Rico Inc. from Aventis Pharmaceuticals, Inc., a member of
the  Sanofi-Aventis  Group,  to  restructure  debt by repaying the $12.4 million
Credit Facility with the Laurus Funds and to provide funding for working capital
requirements.

      In connection with the Registrant's  repayment of the $12.4 million Credit
Facility with the Laurus Funds, all of the property,  rights,  title,  interests
and other assets charged to Laurus Funds by Inyx Pharma, Ltd. and the Registrant
pursuant to that certain  Debenture dated as of October 30, 2003, by and between
Inyx Pharma,  Ltd. and Laurus Funds, as  supplemented by a Supplemental  Deed of
Security  dated as of December  29, 2003,  and  pursuant to that  certain  Share
Charge dated as of October 29, 2003,  by and between the  Registrant  and Laurus
Funds,  respectively,  were irrevocably and  unconditionally  released by Laurus
Funds  pursuant to that certain Deed of Release  dated as of March 31, 2005,  by
and between the Registrant,  Inyx Pharma, Ltd and Laurus Funds.  Further, all of
Laurus  Funds'  right,  title  and  interest  in and to the  assets  secured  in
connection  with that certain  Secured  Revolving  Note dated as of December 30,
2003, that certain Minimum Borrowing Note dated as of December 30, 2003 and that
certain  Convertible Term Note dated as of October 20, 2003, each by and between
the Registrant and Laurus Funds (together, the "Instruments"),  were terminated,
cancelled and  transferred,  along with all of Laurus  Funds'  right,  title and
interest in and to the Instruments,  by Laurus Funds to Westernbank  Puerto Rico
pursuant to that certain  Release  Agreement  dated as of March 31, 2005, by and
among the  Registrant,  Inyx  Pharma,  Ltd.,  Inyx USA,  Ltd.,  Laurus Funds and
Westernbank Puerto Rico.

                                       2
<PAGE>

      On December 15, 2004,  the  Registrant  (acting  through its  wholly-owned
subsidiary  Inyx USA,  Ltd.)  signed an Asset  Purchase  Agreement  with Aventis
Pharmaceuticals Puerto Rico, Inc. ("APR") to acquire the real estate, equipment,
and certain contract rights  comprising its Manati,  Puerto Rico  pharmaceutical
manufacturing  facility.  Such transaction is more  particularly  described in a
separate Current Report on Form 8-K filed April 6, 2005.

      Pursuant to the Asset Purchase Agreement with APR, the Registrant received
a $3.5  million  advance  from APR,  evidenced  by a  Promissory  Note which was
entered  into on March 31,  2005 (the  "Promissory  Note"),  for  strategic  and
business development  activities to be carried out by the Registrant  subsequent
to its  acquisition  of the  pharmaceutical  manufacturing  assets of APR.  Such
Promissory Note carries a ten percent (10%) per annum interest rate and is to be
repaid by the Registrant to APR in two equal  installments  of one million seven
hundred fifty thousand  dollars  ($1,750,500);  the first of these  installments
shall be made on July 29, 2005 and the second these  installments  shall be made
on December 30, 2005.  The entire unpaid  balance of the  Promissory  Note shall
immediately  become due and payable  without demand or notice of any kind (a) if
any  installment  is not paid within a ten (10) day grace period its due date or
if any other sum owed under the Promissory  Note or any other  obligation to APR
is not paid  when due,  or (b) if the  Registrant  shall  admit in  writing  its
inability to pay its debts or makes an assignment  for the benefit of creditors,
or if a receiver is  appointed  for any  property of the  Registrant,  or if any
petition is filed by or against the  Registrant  under any provisions of any law
relating to bankruptcy, insolvency,  reorganization or relief of debtors, or (c)
upon the failure in business,  dissolution  or  termination  of existence of the
Registrant.

Item 9.01. Financial Exhibits, Pro Forma Financial Information and Exhibits.

(c)   Exhibits

      Exhibit No.


      10.29.3  Deed of Release  dated as of March 31, 2005,  by and among Laurus
               Master Fund, Ltd., the Registrant and Inyx Pharma, Ltd.

      10.29.4  Release  Agreement dated as of March 31 2005, by and among Laurus
               Master  Fund, Ltd., the Registrant, Inyx USA, Ltd., Inyx  Pharma,
               Ltd. and Westernbank Puerto Rico

      10.35.1  Loan and  Security  Agreement  dated as of March 31, 2005, by and
               between  Westernbank Puerto Rico, the Registrant and  Inyx   USA,
               Ltd.

      10.35.2  First Amendment to Loan and Security Agreement dated as  of March
               31, 2005, by and between Westernbank Puerto Rico, the  Registrant
               and Inyx USA, Ltd.

                                       3
<PAGE>

                                   SIGNATURES

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

                                                     INYX, INC.

                                                     By: /s/ Jack Kachkar
                                                        ------------------------
                                                        Jack Kachkar, Chairman

Dated: April 6, 2005

                                       4
<PAGE>



                                INDEX TO EXHIBITS

      10.29.3  Deed of Release  dated as of March 31, 2005,  by and among Laurus
               Master Fund, Ltd., the Registrant and Inyx Pharma, Ltd.

      10.29.4  Release  Agreement dated as of March 31 2005, by and among Laurus
               Master  Fund, Ltd., the Registrant, Inyx USA, Ltd., Inyx  Pharma,
               Ltd. and Westernbank Puerto Rico

      10.35.1  Loan and  Security  Agreement  dated as of March 31, 2005, by and
               between  Westernbank Puerto Rico, the Registrant and  Inyx   USA,
               Ltd.

      10.35.2  First Amendment to Loan and Security Agreement dated as  of March
               31, 2005, by and between Westernbank Puerto Rico, the  Registrant
               and Inyx USA, Ltd.


                                       5
{"company-data": {"conformed-name": "INYX INC", "cik": "0001114241", "assigned-sic": "2834", "irs-number": "752870720", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-83152", "film-number": "05737741"}, "business-address": {"street1": "825 THIRD AVENUE", "street2": "40TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10022", "phone": "212-838-1111"}, "mail-address": {"street1": "825 THIRD AVENUE", "street2": "40TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10022"}, "former-company": {"former-conformed-name": "DOBLIQUE INC", "date-changed": "20000510"}}
SECURITIES AND EXCHANGE COMMISSION
                             Washington, D. C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  March 31, 2005

                                   INYX, INC.

             (Exact name of registrant as specified in its charter)

           Nevada                     333-83152               75-2870720
           ------                     ---------               ----------
(State or other jurisdiction         (Commission           (I.R.S. Employer
       of incorporation)             File Number)          Identification No.)

                825 Third Avenue, 40th Floor, New York, NY 10022
               (Address of principal executive offices) (Zip Code)
       Registrant's telephone number, including area code: (212) 838-1111

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[_]   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

[_]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

[_]   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

[_]   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))
Item 2.03 Creation of a Direct Financial Obligation or an Obligation Under an
Off-Balance Sheet Arrangement of a Registrant

      On March 31, 2005, the Registrant  entered into a new non-dilutive,  asset
base  revolving  credit,  term loan and security  agreement  ("Debt  Agreement")
totaling $46 million with  Westernbank  Business  Credit Division of Westernbank
Puerto Rico,  Puerto Rico's second largest bank and a wholly owned subsidiary of
W Holding Company,  Inc. The Debt Agreement provides up to $10.0 million under a
revolving line of credit (the  "Revolver")  secured by accounts  receivables and
inventory  and up to $36.0  million under a series of four term loans (the "Term
Loans")  secured by the Assets of the Registrant and it's  subsidiary  Inyx USA.
The Term  Loans  consist  of up to $5.0  million  under a 5 year  Term  Loan for
purchases of new Property,  Plant and Equipment,  a $14.2  million,  5 year Term
Loan on  existing  on  Equipment,  an $11.8  million,  15 year Term Loan on Real
Property and a $5.0 million  mezzanine  Term line secured by all other assets of
the Registrant.

      The Revolver has a three year term and bears  interest at the  Westernbank
prime rate plus 1.0%. The  availability on the Revolver is based on a percentage
of our  accounts  receivable,  unbilled  finished  good  inventory  and  raw and
in-process  inventory.   The  first  three  Term  Loans  bear  interest  at  the
Westernbank  prime rate plus 2.0% with monthly  payments  commencing  on July 1,
2005 through  maturity.  The mezzanine  term loan bears  interest at the rate of
15.0%  with  monthly  principal  payments  commencing  on July 1,  2005  through
maturity.

      The  availability  under the Debt  Agreement  allowed  the  Registrant  to
complete   the   acquisition   of  certain   assets  and   business  of  Aventis
Pharmaceuticals Puerto Rico Inc. from Aventis Pharmaceuticals, Inc., a member of
the  Sanofi-Aventis  Group,  to  restructure  debt by repaying the $12.4 million
Credit Facility with the Laurus Funds and to provide funding for working capital
requirements.

      In connection with the Registrant's  repayment of the $12.4 million Credit
Facility with the Laurus Funds, all of the property,  rights,  title,  interests
and other assets charged to Laurus Funds by Inyx Pharma, Ltd. and the Registrant
pursuant to that certain  Debenture dated as of October 30, 2003, by and between
Inyx Pharma,  Ltd. and Laurus Funds, as  supplemented by a Supplemental  Deed of
Security  dated as of December  29, 2003,  and  pursuant to that  certain  Share
Charge dated as of October 29, 2003,  by and between the  Registrant  and Laurus
Funds,  respectively,  were irrevocably and  unconditionally  released by Laurus
Funds  pursuant to that certain Deed of Release  dated as of March 31, 2005,  by
and between the Registrant,  Inyx Pharma, Ltd and Laurus Funds.  Further, all of
Laurus  Funds'  right,  title  and  interest  in and to the  assets  secured  in
connection  with that certain  Secured  Revolving  Note dated as of December 30,
2003, that certain Minimum Borrowing Note dated as of December 30, 2003 and that
certain  Convertible Term Note dated as of October 20, 2003, each by and between
the Registrant and Laurus Funds (together, the "Instruments"),  were terminated,
cancelled and  transferred,  along with all of Laurus  Funds'  right,  title and
interest in and to the Instruments,  by Laurus Funds to Westernbank  Puerto Rico
pursuant to that certain  Release  Agreement  dated as of March 31, 2005, by and
among the  Registrant,  Inyx  Pharma,  Ltd.,  Inyx USA,  Ltd.,  Laurus Funds and
Westernbank Puerto Rico.

                                       2
On December 15, 2004,  the  Registrant  (acting  through its  wholly-owned
subsidiary  Inyx USA,  Ltd.)  signed an Asset  Purchase  Agreement  with Aventis
Pharmaceuticals Puerto Rico, Inc. ("APR") to acquire the real estate, equipment,
and certain contract rights  comprising its Manati,  Puerto Rico  pharmaceutical
manufacturing  facility.  Such transaction is more  particularly  described in a
separate Current Report on Form 8-K filed April 6, 2005.

      Pursuant to the Asset Purchase Agreement with APR, the Registrant received
a $3.5  million  advance  from APR,  evidenced  by a  Promissory  Note which was
entered  into on March 31,  2005 (the  "Promissory  Note"),  for  strategic  and
business development  activities to be carried out by the Registrant  subsequent
to its  acquisition  of the  pharmaceutical  manufacturing  assets of APR.  Such
Promissory Note carries a ten percent (10%) per annum interest rate and is to be
repaid by the Registrant to APR in two equal  installments  of one million seven
hundred fifty thousand  dollars  ($1,750,500);  the first of these  installments
shall be made on July 29, 2005 and the second these  installments  shall be made
on December 30, 2005.  The entire unpaid  balance of the  Promissory  Note shall
immediately  become due and payable  without demand or notice of any kind (a) if
any  installment  is not paid within a ten (10) day grace period its due date or
if any other sum owed under the Promissory  Note or any other  obligation to APR
is not paid  when due,  or (b) if the  Registrant  shall  admit in  writing  its
inability to pay its debts or makes an assignment  for the benefit of creditors,
or if a receiver is  appointed  for any  property of the  Registrant,  or if any
petition is filed by or against the  Registrant  under any provisions of any law
relating to bankruptcy, insolvency,  reorganization or relief of debtors, or (c)
upon the failure in business,  dissolution  or  termination  of existence of the
Registrant.

Item 9.01. Financial Exhibits, Pro Forma Financial Information and Exhibits.

(c)   Exhibits

      Exhibit No.

      10.29.3  Deed of Release  dated as of March 31, 2005,  by and among Laurus
               Master Fund, Ltd., the Registrant and Inyx Pharma, Ltd.

      10.29.4  Release  Agreement dated as of March 31 2005, by and among Laurus
               Master  Fund, Ltd., the Registrant, Inyx USA, Ltd., Inyx  Pharma,
               Ltd. and Westernbank Puerto Rico

      10.35.1  Loan and  Security  Agreement  dated as of March 31, 2005, by and
               between  Westernbank Puerto Rico, the Registrant and  Inyx   USA,
               Ltd.

      10.35.2  First Amendment to Loan and Security Agreement dated as  of March
               31, 2005, by and between Westernbank Puerto Rico, the  Registrant
               and Inyx USA, Ltd.

                                       3
SIGNATURES

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

                                                     INYX, INC.

                                                     By: /s/ Jack Kachkar
                                                        ------------------------
                                                        Jack Kachkar, Chairman

Dated: April 6, 2005

                                       4
INDEX TO EXHIBITS

      10.29.3  Deed of Release  dated as of March 31, 2005,  by and among Laurus
               Master Fund, Ltd., the Registrant and Inyx Pharma, Ltd.

      10.29.4  Release  Agreement dated as of March 31 2005, by and among Laurus
               Master  Fund, Ltd., the Registrant, Inyx USA, Ltd., Inyx  Pharma,
               Ltd. and Westernbank Puerto Rico

      10.35.1  Loan and  Security  Agreement  dated as of March 31, 2005, by and
               between  Westernbank Puerto Rico, the Registrant and  Inyx   USA,
               Ltd.

      10.35.2  First Amendment to Loan and Security Agreement dated as  of March
               31, 2005, by and between Westernbank Puerto Rico, the  Registrant
               and Inyx USA, Ltd.

                                       5