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): June 29, 2005


                                   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)


             9255 Towne Centre Drive, Suite 235, San Diego, CA 92121
               (Address of principal executive offices) (zip code)


                                 (858) 720-8000
              (Registrant's telephone number, including area code)


                                   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

      As  reported  in a Form  8-K  filed  on  July 6,  2005,  IPEX,  Inc.  (the
"Company")  entered into a purchase  agreement,  dated June 7, 2005, with B Tech
Ltd., Massimo Ballerini and Emanuele Boni (the "B Tech Agreement").  Under the B
Tech  Agreement,  the Company  purchased  certain  intellectual  property rights
including quadratic, circular transform algorithms, codes and formulas for image
enhancement,  compacting  and  content  protection  applications  (the  "B  Tech
Assets").  The  purchased  technology  and formulas  also include the concept of
"floating  pixels"  versus a frame by frame system and the  integration of sound
into a digital  image to stream  live  content  for  wireless  systems  based on
9,6Kbit/s and to be used on full display  screens at less than 64Kbit/s  (ISDN).
The purchase  price for the B Tech Assets  totals  $6,000,000  of the  Company's
common  stock,  with the number of shares of common  stock to be issued based on
the average of the closing bid and asked prices per share of the common stock as
quoted on the OTC Bulletin  Board for the five trading days prior to the closing
date.  The  Company  must  issue  such  shares to the  sellers  under the B Tech
Agreement 90 days after the closing date (the "Valuation Date").

      On June 29,  2005,  the Company  entered  into an  amendment to the B Tech
Agreement,  extending the number of trading days for  calculating  the Valuation
Price Per Share (as defined  below) from five days to 20 days.  On the Valuation
Date,  the Company  will compute the average of the closing bid and asked prices
per share of the  common  stock as quoted on the OTC  Bulletin  Board for the 20
trading days prior to the Valuation Date (the "Valuation Price Per Share").  The
number of shares of common  stock to be issued to the  sellers on the  Valuation
Date will be adjusted by dividing  $6,000,000 by the Valuation  Price Per Share.
In the event the  Company  sells,  assigns or  otherwise  disposes of the B Tech
Assets  within 18 months  of the  closing  date,  the  sellers  under the B Tech
Agreement  will  receive  as an  addition  to  the  purchase  price  25%  of the
consideration received in such sale, assignment or disposition, less $6,000,000,
to be  allocated  as  designated  by the  sellers.  If 25% of the  consideration
received in a sale,  assignment or disposition of the B Tech Assets is less than
$6,000,000, no addition to the purchase price will be due to the sellers.

Item 3.02 Unregistered Sales of Equity Securities.

      The  shares of common  stock  issuable  pursuant  to the B Tech  Agreement
(described  in  Item  1.01)  will  be  issued  pursuant  to the  exemption  from
registration  requirements  under  Regulation  S,  promulgated  pursuant  to the
Securities Act of 1933, as amended (the "Securities  Act").  None of the sellers
under  the B Tech  Agreement  are U.S.  persons  as  defined  in Rule  902(k) of
Regulation  S, and no sales  efforts were  conducted in the U.S.,  in accordance
with Rule 903(c).  Such purchasers  acknowledged  that the securities  purchased
must come to rest outside the U.S., and the  certificates  will contain a legend
restricting the sale of such securities until the Regulation S holding period is
satisfied.

Item 9.01 Financial Statements and Exhibits.

(c)   Exhibits

Exhibit Number    Description
--------------------------------------------------------------------------------
10.1              Amendment No. 1 to Purchase Agreement entered into on June 29,
                  2005 among IPEX,  Inc.,  B Tech Ltd.,  Massimo  Ballerini  and
                  Emanuele Boni


                                       1
<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: July 8, 2005                    By: /s/ Milton Ault
                                          --------------------------------
                                       Name:  Milton "Todd" Ault, III
                                       Title: Chairman and Acting Chief
                                              Financial Officer


                                       2
{"company-data": {"conformed-name": "IPEX, INC", "cik": "0001258383", "assigned-sic": "1000", "irs-number": "412052984", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50774", "film-number": "05950095"}, "business-address": {"street1": "9255 TOWNE CENTRE DRIVE", "street2": "SUITE 235", "city": "SAN DIEGO,", "state": "CA", "zip": "92121", "phone": "(858) 720-8000"}, "mail-address": {"street1": "9255 TOWNE CENTRE DRIVE", "street2": "SUITE 235", "city": "SAN DIEGO,", "state": "CA", "zip": "92121"}, "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): June 29, 2005

                                   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)

             9255 Towne Centre Drive, Suite 235, San Diego, CA 92121
               (Address of principal executive offices) (zip code)

                                 (858) 720-8000
              (Registrant's telephone number, including area code)

                                   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

      As  reported  in a Form  8-K  filed  on  July 6,  2005,  IPEX,  Inc.  (the
"Company")  entered into a purchase  agreement,  dated June 7, 2005, with B Tech
Ltd., Massimo Ballerini and Emanuele Boni (the "B Tech Agreement").  Under the B
Tech  Agreement,  the Company  purchased  certain  intellectual  property rights
including quadratic, circular transform algorithms, codes and formulas for image
enhancement,  compacting  and  content  protection  applications  (the  "B  Tech
Assets").  The  purchased  technology  and formulas  also include the concept of
"floating  pixels"  versus a frame by frame system and the  integration of sound
into a digital  image to stream  live  content  for  wireless  systems  based on
9,6Kbit/s and to be used on full display  screens at less than 64Kbit/s  (ISDN).
The purchase  price for the B Tech Assets  totals  $6,000,000  of the  Company's
common  stock,  with the number of shares of common  stock to be issued based on
the average of the closing bid and asked prices per share of the common stock as
quoted on the OTC Bulletin  Board for the five trading days prior to the closing
date.  The  Company  must  issue  such  shares to the  sellers  under the B Tech
Agreement 90 days after the closing date (the "Valuation Date").

      On June 29,  2005,  the Company  entered  into an  amendment to the B Tech
Agreement,  extending the number of trading days for  calculating  the Valuation
Price Per Share (as defined  below) from five days to 20 days.  On the Valuation
Date,  the Company  will compute the average of the closing bid and asked prices
per share of the  common  stock as quoted on the OTC  Bulletin  Board for the 20
trading days prior to the Valuation Date (the "Valuation Price Per Share").  The
number of shares of common  stock to be issued to the  sellers on the  Valuation
Date will be adjusted by dividing  $6,000,000 by the Valuation  Price Per Share.
In the event the  Company  sells,  assigns or  otherwise  disposes of the B Tech
Assets  within 18 months  of the  closing  date,  the  sellers  under the B Tech
Agreement  will  receive  as an  addition  to  the  purchase  price  25%  of the
consideration received in such sale, assignment or disposition, less $6,000,000,
to be  allocated  as  designated  by the  sellers.  If 25% of the  consideration
received in a sale,  assignment or disposition of the B Tech Assets is less than
$6,000,000, no addition to the purchase price will be due to the sellers.

Item 3.02 Unregistered Sales of Equity Securities.

      The  shares of common  stock  issuable  pursuant  to the B Tech  Agreement
(described  in  Item  1.01)  will  be  issued  pursuant  to the  exemption  from
registration  requirements  under  Regulation  S,  promulgated  pursuant  to the
Securities Act of 1933, as amended (the "Securities  Act").  None of the sellers
under  the B Tech  Agreement  are U.S.  persons  as  defined  in Rule  902(k) of
Regulation  S, and no sales  efforts were  conducted in the U.S.,  in accordance
with Rule 903(c).  Such purchasers  acknowledged  that the securities  purchased
must come to rest outside the U.S., and the  certificates  will contain a legend
restricting the sale of such securities until the Regulation S holding period is
satisfied.

Item 9.01 Financial Statements and Exhibits.

(c)   Exhibits

Exhibit Number    Description
--------------------------------------------------------------------------------
10.1              Amendment No. 1 to Purchase Agreement entered into on June 29,
                  2005 among IPEX,  Inc.,  B Tech Ltd.,  Massimo  Ballerini  and
                  Emanuele Boni

                                       1
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: July 8, 2005                    By: /s/ Milton Ault
                                          --------------------------------
                                       Name:  Milton "Todd" Ault, III
                                       Title: Chairman and Acting Chief
                                              Financial Officer

                                       2