UNITED STATES
                       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 21, 2006

                                   IPEX, Inc.
             (Exact name of registrant as specified in its charter)

             Nevada                 000-50774               41-2052984
  (State or Other Jurisdiction   (Commission File        (I.R.S. Employer
       of Incorporation)             Number)          Identification Number)

                     7825 Fay Suite 200, La Jolla, CA 92037
               (Address of principal executive offices) (zip code)

                                 (858) 456-3539
              (Registrant's telephone number, including area code)

             9255 Towne Centre Drive, Suite 235, San Diego, CA 92121
         (Former name or former address, if changed since last report)

                                   Copies to:
                               Marc J. Ross, Esq.
                       Sichenzia Ross Friedman Ference LLP
                           1065 Avenue of the Americas
                            New York, New York 10018
                              Phone: (212) 930-9700
                               Fax: (212) 930-9725

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 1.01 Entry into a Material Definitive Agreement.

      On March 21, 2006 IPEX,  Inc.  (the  "Company")  entered into a Securities
Purchase  Agreement  for the sale of  $800,000  principal  amount of 10% Secured
Convertible  Notes (the "Notes") to four accredited  investors.  The sale of the
Notes closed on March 21, 2006.

      The Notes bear  interest  at the rate of 10% per annum and mature one year
from the date of issuance. On the maturity date the outstanding principal amount
of the Notes  will  automatically  convert  into  shares of common  stock of the
Company's wholly owned subsidiary RGB Channel,  Inc., a Nevada corporation ("RGB
Channel").  Before the  maturity  date the holders  may convert the  outstanding
principal  amount of the Notes into either shares of the Company's  common stock
or shares  of RGB  Channel's  common  stock.  If  converted  into  shares of the
Company's common stock the conversion price of the Notes is $1.00 per share (the
"IPEX  Conversion  Price").  If  converted  into  shares of common  stock of RGB
Channel  the  conversion  price will  equal the  lesser of (the "RGB  Conversion
Price"):  (a) $0.50,  or (b) the price at which, at any time while the Notes are
outstanding,  RGB  Channel  sells  shares  of its  common  stock  or  any  other
securities convertible into or exchangeable for RGB Channel common stock.

      The  conversion  price of the Notes is subject to  adjustment in the event
the Company issues shares of its common stock or securities  convertible into or
exchangeable  for  shares  of its  common  stock at a price  less  than the IPEX
Conversion  Price, if the Company pays a stock dividend,  subdivides or combines
outstanding shares of common stock into a greater or lesser number of shares, or
takes any other actions that would otherwise  result in dilution of the holders'
position.  In addition, if at any time when the Notes are outstanding there is a
period of 60 trading days during which the volume weighted  average price of the
Company's  common stock is less than $1.00 per share,  then: (a) there will be a
one time  adjustment  to the IPEX  Conversion  Price to equal the lowest  volume
weighted  average price of the Company's common stock during such 60-trading day
period;  and (b) there will be a one time adjustment to the RGB Conversion Price
to equal 50% of the lowest volume weighted average price of the Company's common
stock during such 60-trading day trading period.

      RGB Channel  was formed by the  Company for the purpose of owning  certain
assets  purchased by the Company pursuant to  (collectively,  the "RGB Assets"):
(a) that certain Purchase Agreement dated June 7, 2005 by and among the Company,
B Tech Ltd.,  Massimo Ballerini and Emanuele Boni; and (b) that certain Purchase
Agreement dated June 7, 2005 by and among the Company, RGB Channel SRL, Emanuele
Boni,  Massimo  Ballerini  and B Tech Ltd.  The  Company  is in the  process  of
transferring ownership of the RGB Assets to RGB Channel.

      In  connection  with the sale of the Notes,  the  Company  and RGB Channel
entered  into a  Security  Agreement  granting  the  purchasers  of the  Notes a
security interest in the RGB Assets and all intellectual property related to the
RGB Assets to secure the Company's and RGB Channel's obligations pursuant to the
terms of the Notes.

      The sale of the Notes was exempt from registration  requirements  pursuant
to Section  4(2) of the  Securities  Act of 1933,  as amended  (the  "Securities
Act"),  and Rule 506 of Regulation D promulgated  thereunder.  No advertising or
general  solicitation  was employed in offering the  securities,  the sales were
made to a limited number of persons, all of whom represented to the Company that
they are accredited  investors,  and transfer of the securities is restricted in
accordance with the requirements of the Securities Act.

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

      See Item 1.01 above.

Item 3.02 Unregistered Sales of Equity Securities.

      See Item 1.01 above.


                                        1
<PAGE>


Item 9.01 Financial Statements and Exhibits.

(c)   Exhibits

Exhibit
Number                               Description
-------  -----------------------------------------------------------------------

4.1      Form of 10% Secured Convertible Note Issued March 21, 2006
10.1     Securities  Purchase  Agreement dated March 21, 2006 by and among IPEX,
         Inc.,  RGB Channel,  Inc. and the  purchasers set fort on the signature
         page thereto
10.2     Security  Agreement  dated March 21, 2006 by and among IPEX,  Inc., RGB
         Channel, Inc. and the secured parties signatory thereto


                                       2


<PAGE>



                                   SIGNATURES

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

                                      IPEX, Inc.


Dated: March 21, 2006                 By:  /s/ Sothi Thillairajah
                                          --------------------------------------
                                      Name:    Sothi Thillairajah
                                      Title:   Chief Executive Officer



                                       3
{"company-data": {"conformed-name": "IPEX, INC", "cik": "0001258383", "assigned-sic": "4899", "irs-number": "412052984", "state-of-incorporation": "NV", "fiscal-year-end": "0324"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50774", "film-number": "06701866"}, "business-address": {"street1": "7825 FAY,", "street2": "SUITE 200", "city": "LA JOLLA", "state": "CA", "zip": "92037", "phone": "(858) 456-3539"}, "mail-address": {"street1": "7825 FAY,", "street2": "SUITE 200", "city": "LA JOLLA", "state": "CA", "zip": "92037"}, "former-company": {"former-conformed-name": "TAMARACK VENTURES INC", "date-changed": "20030805"}}
UNITED STATES
                       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 21, 2006

                                   IPEX, Inc.
             (Exact name of registrant as specified in its charter)

             Nevada                 000-50774               41-2052984
  (State or Other Jurisdiction   (Commission File        (I.R.S. Employer
       of Incorporation)             Number)          Identification Number)

                     7825 Fay Suite 200, La Jolla, CA 92037
               (Address of principal executive offices) (zip code)

                                 (858) 456-3539
              (Registrant's telephone number, including area code)

             9255 Towne Centre Drive, Suite 235, San Diego, CA 92121
         (Former name or former address, if changed since last report)

                                   Copies to:
                               Marc J. Ross, Esq.
                       Sichenzia Ross Friedman Ference LLP
                           1065 Avenue of the Americas
                            New York, New York 10018
                              Phone: (212) 930-9700
                               Fax: (212) 930-9725

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 1.01 Entry into a Material Definitive Agreement.

      On March 21, 2006 IPEX,  Inc.  (the  "Company")  entered into a Securities
Purchase  Agreement  for the sale of  $800,000  principal  amount of 10% Secured
Convertible  Notes (the "Notes") to four accredited  investors.  The sale of the
Notes closed on March 21, 2006.

      The Notes bear  interest  at the rate of 10% per annum and mature one year
from the date of issuance. On the maturity date the outstanding principal amount
of the Notes  will  automatically  convert  into  shares of common  stock of the
Company's wholly owned subsidiary RGB Channel,  Inc., a Nevada corporation ("RGB
Channel").  Before the  maturity  date the holders  may convert the  outstanding
principal  amount of the Notes into either shares of the Company's  common stock
or shares  of RGB  Channel's  common  stock.  If  converted  into  shares of the
Company's common stock the conversion price of the Notes is $1.00 per share (the
"IPEX  Conversion  Price").  If  converted  into  shares of common  stock of RGB
Channel  the  conversion  price will  equal the  lesser of (the "RGB  Conversion
Price"):  (a) $0.50,  or (b) the price at which, at any time while the Notes are
outstanding,  RGB  Channel  sells  shares  of its  common  stock  or  any  other
securities convertible into or exchangeable for RGB Channel common stock.

      The  conversion  price of the Notes is subject to  adjustment in the event
the Company issues shares of its common stock or securities  convertible into or
exchangeable  for  shares  of its  common  stock at a price  less  than the IPEX
Conversion  Price, if the Company pays a stock dividend,  subdivides or combines
outstanding shares of common stock into a greater or lesser number of shares, or
takes any other actions that would otherwise  result in dilution of the holders'
position.  In addition, if at any time when the Notes are outstanding there is a
period of 60 trading days during which the volume weighted  average price of the
Company's  common stock is less than $1.00 per share,  then: (a) there will be a
one time  adjustment  to the IPEX  Conversion  Price to equal the lowest  volume
weighted  average price of the Company's common stock during such 60-trading day
period;  and (b) there will be a one time adjustment to the RGB Conversion Price
to equal 50% of the lowest volume weighted average price of the Company's common
stock during such 60-trading day trading period.

      RGB Channel  was formed by the  Company for the purpose of owning  certain
assets  purchased by the Company pursuant to  (collectively,  the "RGB Assets"):
(a) that certain Purchase Agreement dated June 7, 2005 by and among the Company,
B Tech Ltd.,  Massimo Ballerini and Emanuele Boni; and (b) that certain Purchase
Agreement dated June 7, 2005 by and among the Company, RGB Channel SRL, Emanuele
Boni,  Massimo  Ballerini  and B Tech Ltd.  The  Company  is in the  process  of
transferring ownership of the RGB Assets to RGB Channel.

      In  connection  with the sale of the Notes,  the  Company  and RGB Channel
entered  into a  Security  Agreement  granting  the  purchasers  of the  Notes a
security interest in the RGB Assets and all intellectual property related to the
RGB Assets to secure the Company's and RGB Channel's obligations pursuant to the
terms of the Notes.

      The sale of the Notes was exempt from registration  requirements  pursuant
to Section  4(2) of the  Securities  Act of 1933,  as amended  (the  "Securities
Act"),  and Rule 506 of Regulation D promulgated  thereunder.  No advertising or
general  solicitation  was employed in offering the  securities,  the sales were
made to a limited number of persons, all of whom represented to the Company that
they are accredited  investors,  and transfer of the securities is restricted in
accordance with the requirements of the Securities Act.

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

      See Item 1.01 above.

Item 3.02 Unregistered Sales of Equity Securities.

      See Item 1.01 above.

                                        1
Item 9.01 Financial Statements and Exhibits.

(c)   Exhibits

Exhibit
Number                               Description
-------  -----------------------------------------------------------------------

4.1      Form of 10% Secured Convertible Note Issued March 21, 2006
10.1     Securities  Purchase  Agreement dated March 21, 2006 by and among IPEX,
         Inc.,  RGB Channel,  Inc. and the  purchasers set fort on the signature
         page thereto
10.2     Security  Agreement  dated March 21, 2006 by and among IPEX,  Inc., RGB
         Channel, Inc. and the secured parties signatory thereto

                                       2
SIGNATURES

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

                                      IPEX, Inc.

Dated: March 21, 2006                 By:  /s/ Sothi Thillairajah
                                          --------------------------------------
                                      Name:    Sothi Thillairajah
                                      Title:   Chief Executive Officer

                                       3