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 7, 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.
                              David Schubauer, 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 June 7, 2005,  IPEX,  Inc.  (the  "Company")  entered into two separate
purchase  agreements for the purchase of certain  intellectual  property assets.
The purchase of the  intellectual  property assets by the Company closed on June
29, 2005.

      The first purchase agreement,  dated June 7, 2005, is between the Company,
RGB Channel SRL,  Massimo  Ballerini,  B Tech Ltd.  and Emanuele  Boni (the "RGB
Agreement").  Under the RGB Agreement,  the Company  purchased image  processing
algorithms,  encoder software, decoder software, digital image enhancement tools
and  encryption  algorithms  to enhance,  compact,  store,  encrypt,  stream and
display digital image content over wireless  networks and over the Internet (the
"RGB Assets").  The Company purchased the RGB Assets from RGB Channel SRL. There
is no material relationship,  other than in respect of the transaction,  between
RGB  Channel SRL and the Company or any of its  affiliates,  or any  director or
officer of the Company,  or any associate of any such  director or officer.  The
purchase price for the RGB Assets totaled $275,000 cash.

      The second purchase agreement, dated June 7, 2005, is between the Company,
B Tech Ltd.,  Massimo Ballerini and Emanuele Boni (the "B Tech Agreement").  The
technology  purchased under the B Tech Agreement  includes  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 Company  purchased the B Tech Assets
from B Tech Ltd.,  Massimo  Ballerini  and Emanuele  Boni.  There is no material
relationship,  other than in respect  of the  transaction,  between B Tech Ltd.,
Massimo Ballerini or Emanuele Boni and the Company or any of its affiliates,  or
any director or officer of the Company, or any associate of any such director or
officer.  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 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 five 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.

      In connection with the RGB Agreement and the B Tech Agreement, the Company
entered into an escrow agreement with B Tech Ltd., Massimo  Ballerini,  Emanuele
Boni,  Wolfgang  Grabher  and  Sichenzia  Ross  Friedman  Ference LLP (as escrow
agent). Under the escrow agreement,  Mr. Grabher agreed to escrow such number of
shares of common stock (the  "Escrowed  Stock") he owns in the Company valued at
$6,275,000 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 of the B Tech  Agreement.  On the Valuation  Date, the
number of shares of the Escrowed  Stock will be adjusted by dividing  $6,275,000
by the Valuation Price Per Share.  Immediately  after the Valuation Date, either
(a) Mr. Grabher must deposit  additional  shares of common stock with the escrow
agent,  or (b) the Company must  instruct the escrow agent to return a specified
number of shares of the Escrowed Stock to Mr. Grabher, based upon the adjustment
of the number of shares of Escrowed Stock on the Valuation  Date. The Company is
in the process of obtaining  independent  third-party reports validating the RGB
Assets  and the B Tech  Assets.  In the event that the RGB Assets and the B Tech
Assets are not  validated  within 180 days (or 270 days if the RGB Assets and/or
the B Tech Assets are only partially  validated after 180 days) of June 7, 2005,
then the Escrowed  Stock will be will be cancelled and returned to the Company's
treasury  stock.  If the RGB Assets and the B Tech Assets are  validated  within
such periods, then the Escrowed Stock will be returned to Mr. Grabher.

                                        1
<PAGE>

      In connection with the RGB Agreement and the B Tech Agreement, RGB Channel
SRL,  Massimo  Ballerini,  B Tech Ltd. and Emanuele Boni entered into a Covenant
Not to Compete and Confidentiality  Agreement.  In this agreement,  such parties
agreed that they will not,  without the prior  written  consent of the  Company,
compete, directly or indirectly,  with the Company anywhere within the territory
in which the Company  conducts its business for a period of five years from June
7, 2005. In addition, such parties agreed that, for a period of five years, they
will not  disclose  to any  unauthorized  person or use for  their own  account,
anywhere  within the  geographical  territory in which  Company is marketing its
services or products,  any  confidential  information  relating to the Company's
business,  without the prior written  consent of the Company,  unless and to the
extent such  information  becomes  known to or  available  for use by the public
otherwise than as a result of their acts or omissions to act.

      In addition, the Company entered into an employment agreement with Massimo
Ballerini,  pursuant to which Mr.  Ballerini  will be employed as the  Company's
Vice-President  of Research &  Development.  Mr.  Ballerini's  salary  under the
employment agreement is $84,000 per year. As additional compensation, subject to
payroll  deductions,  Mr.  Ballerini  will be  reimbursed  for certain  housing,
transportation  and relocation  costs with an aggregate  minimum value of $3,000
per month.  Mr.  Ballerini is also eligible to participate  in employee  benefit
plans  maintained by the Company solely at the discretion of the Company's Board
of Directors (or committee of the Board maintained for such purpose) and subject
to the terms of any definitive  agreement with respect thereto.  Mr. Ballerini's
employment  with the Company is on an  "at-will"  basis,  which means either Mr.
Ballerini or the Company can terminate the employment  agreement at any time for
any reason,  with or without cause and with or without notice. If termination is
without  cause,  Mr.  Ballerini  will be  entitled  to salary  continuation  and
severance pay in the amount of three months salary. If termination is for cause,
Mr.  Ballerini  will be  entitled  only to  salary  earned  through  the date of
termination.  Termination  for  cause  is  defined  as (a) if Mr.  Ballerini  is
derelict  of his  duties or if he commits  any  misconduct  with  respect to the
Company's  affairs and such dereliction or misconduct  continues for a period of
five  days  after the  Company  has given him  written  notice  specifying  such
dereliction  or misconduct,  (b) if Mr.  Ballerini  commits an act  constituting
common law fraud or any crime,  which  could  reasonably  be expected to have an
adverse impact on the Company,  its business or assets,  or (c) if Mr. Ballerini
fails  (otherwise than on account of illness or other  incapacity) or refuses to
carry out the  reasonable  directives of the Company's  Board of Directors,  and
such  failure or refusal  continues  for a period of five days after the Company
has given him  written  notice  specifying  such  directives  and wherein he has
failed or refused to carry out the same.

Item  2.01 Completion of Acquisition or Disposition of Assets.

      See Item 1.01.

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 Section 4(2) of the Securities Act of 1933, as
amended  (the  "Securities  Act"),  Regulation  D under the  Securities  Act and
Regulation S under the  Securities  Act. The sellers under the B Tech  Agreement
who will  receive  shares  under  Regulation  D each  represented  that they are
accredited and sophisticated  investors,  that they are capable of analyzing the
merits and risks of their  investment,  and that they understand the speculative
nature of their  investment.  None of the sellers under the B Tech Agreement who
will  receive  shares  under  Regulation  S 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.

                                       2
<PAGE>

Item  9.01 Financial Statements and Exhibits.

(c) Exhibits

Exhibit
Number                                          Description
---------   --------------------------------------------------------------------
10.1        Purchase  Agreement,  dated June 7, 2005,  between IPEX,  Inc.,  RGB
            Channel SRL, Massimo Ballerini, B Tech Ltd. and Emanuele Boni

10.2        Purchase  Agreement,  dated June 7, 2005, between IPEX, Inc., B Tech
            Ltd., Massimo Ballerini and Emanuele Boni

10.3        Escrow Agreement between IPEX, Inc., B Tech Ltd., Massimo Ballerini,
            Emanuele Boni,  Wolfgang Grabher and Sichenzia Ross Friedman Ference
            LLP

10.4        Employment of Massimo Ballerini dated June 7, 2005

10.5        Covenant Not to Compete and Confidentiality  Agreement dated June 7,
            2005 between IPEX, Inc. RGB Channel SRL, Massimo  Ballerini,  B Tech
            Ltd. and Emanuele Boni


                                       3
<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 5, 2005                       By:  /s/ Milton Ault
                                              ----------------------------------
                                          Name:    Milton "Todd" Ault, III
                                          Title:   Chairman and Acting Chief
                                                   Financial Officer
{"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": "05939087"}, "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 7, 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.
                              David Schubauer, 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 June 7, 2005,  IPEX,  Inc.  (the  "Company")  entered into two separate
purchase  agreements for the purchase of certain  intellectual  property assets.
The purchase of the  intellectual  property assets by the Company closed on June
29, 2005.

      The first purchase agreement,  dated June 7, 2005, is between the Company,
RGB Channel SRL,  Massimo  Ballerini,  B Tech Ltd.  and Emanuele  Boni (the "RGB
Agreement").  Under the RGB Agreement,  the Company  purchased image  processing
algorithms,  encoder software, decoder software, digital image enhancement tools
and  encryption  algorithms  to enhance,  compact,  store,  encrypt,  stream and
display digital image content over wireless  networks and over the Internet (the
"RGB Assets").  The Company purchased the RGB Assets from RGB Channel SRL. There
is no material relationship,  other than in respect of the transaction,  between
RGB  Channel SRL and the Company or any of its  affiliates,  or any  director or
officer of the Company,  or any associate of any such  director or officer.  The
purchase price for the RGB Assets totaled $275,000 cash.

      The second purchase agreement, dated June 7, 2005, is between the Company,
B Tech Ltd.,  Massimo Ballerini and Emanuele Boni (the "B Tech Agreement").  The
technology  purchased under the B Tech Agreement  includes  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 Company  purchased the B Tech Assets
from B Tech Ltd.,  Massimo  Ballerini  and Emanuele  Boni.  There is no material
relationship,  other than in respect  of the  transaction,  between B Tech Ltd.,
Massimo Ballerini or Emanuele Boni and the Company or any of its affiliates,  or
any director or officer of the Company, or any associate of any such director or
officer.  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 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 five 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.

      In connection with the RGB Agreement and the B Tech Agreement, the Company
entered into an escrow agreement with B Tech Ltd., Massimo  Ballerini,  Emanuele
Boni,  Wolfgang  Grabher  and  Sichenzia  Ross  Friedman  Ference LLP (as escrow
agent). Under the escrow agreement,  Mr. Grabher agreed to escrow such number of
shares of common stock (the  "Escrowed  Stock") he owns in the Company valued at
$6,275,000 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 of the B Tech  Agreement.  On the Valuation  Date, the
number of shares of the Escrowed  Stock will be adjusted by dividing  $6,275,000
by the Valuation Price Per Share.  Immediately  after the Valuation Date, either
(a) Mr. Grabher must deposit  additional  shares of common stock with the escrow
agent,  or (b) the Company must  instruct the escrow agent to return a specified
number of shares of the Escrowed Stock to Mr. Grabher, based upon the adjustment
of the number of shares of Escrowed Stock on the Valuation  Date. The Company is
in the process of obtaining  independent  third-party reports validating the RGB
Assets  and the B Tech  Assets.  In the event that the RGB Assets and the B Tech
Assets are not  validated  within 180 days (or 270 days if the RGB Assets and/or
the B Tech Assets are only partially  validated after 180 days) of June 7, 2005,
then the Escrowed  Stock will be will be cancelled and returned to the Company's
treasury  stock.  If the RGB Assets and the B Tech Assets are  validated  within
such periods, then the Escrowed Stock will be returned to Mr. Grabher.

                                        1
In connection with the RGB Agreement and the B Tech Agreement, RGB Channel
SRL,  Massimo  Ballerini,  B Tech Ltd. and Emanuele Boni entered into a Covenant
Not to Compete and Confidentiality  Agreement.  In this agreement,  such parties
agreed that they will not,  without the prior  written  consent of the  Company,
compete, directly or indirectly,  with the Company anywhere within the territory
in which the Company  conducts its business for a period of five years from June
7, 2005. In addition, such parties agreed that, for a period of five years, they
will not  disclose  to any  unauthorized  person or use for  their own  account,
anywhere  within the  geographical  territory in which  Company is marketing its
services or products,  any  confidential  information  relating to the Company's
business,  without the prior written  consent of the Company,  unless and to the
extent such  information  becomes  known to or  available  for use by the public
otherwise than as a result of their acts or omissions to act.

      In addition, the Company entered into an employment agreement with Massimo
Ballerini,  pursuant to which Mr.  Ballerini  will be employed as the  Company's
Vice-President  of Research &  Development.  Mr.  Ballerini's  salary  under the
employment agreement is $84,000 per year. As additional compensation, subject to
payroll  deductions,  Mr.  Ballerini  will be  reimbursed  for certain  housing,
transportation  and relocation  costs with an aggregate  minimum value of $3,000
per month.  Mr.  Ballerini is also eligible to participate  in employee  benefit
plans  maintained by the Company solely at the discretion of the Company's Board
of Directors (or committee of the Board maintained for such purpose) and subject
to the terms of any definitive  agreement with respect thereto.  Mr. Ballerini's
employment  with the Company is on an  "at-will"  basis,  which means either Mr.
Ballerini or the Company can terminate the employment  agreement at any time for
any reason,  with or without cause and with or without notice. If termination is
without  cause,  Mr.  Ballerini  will be  entitled  to salary  continuation  and
severance pay in the amount of three months salary. If termination is for cause,
Mr.  Ballerini  will be  entitled  only to  salary  earned  through  the date of
termination.  Termination  for  cause  is  defined  as (a) if Mr.  Ballerini  is
derelict  of his  duties or if he commits  any  misconduct  with  respect to the
Company's  affairs and such dereliction or misconduct  continues for a period of
five  days  after the  Company  has given him  written  notice  specifying  such
dereliction  or misconduct,  (b) if Mr.  Ballerini  commits an act  constituting
common law fraud or any crime,  which  could  reasonably  be expected to have an
adverse impact on the Company,  its business or assets,  or (c) if Mr. Ballerini
fails  (otherwise than on account of illness or other  incapacity) or refuses to
carry out the  reasonable  directives of the Company's  Board of Directors,  and
such  failure or refusal  continues  for a period of five days after the Company
has given him  written  notice  specifying  such  directives  and wherein he has
failed or refused to carry out the same.

Item  2.01 Completion of Acquisition or Disposition of Assets.

      See Item 1.01.

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 Section 4(2) of the Securities Act of 1933, as
amended  (the  "Securities  Act"),  Regulation  D under the  Securities  Act and
Regulation S under the  Securities  Act. The sellers under the B Tech  Agreement
who will  receive  shares  under  Regulation  D each  represented  that they are
accredited and sophisticated  investors,  that they are capable of analyzing the
merits and risks of their  investment,  and that they understand the speculative
nature of their  investment.  None of the sellers under the B Tech Agreement who
will  receive  shares  under  Regulation  S 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.

                                       2
Item  9.01 Financial Statements and Exhibits.

(c) Exhibits

Exhibit
Number                                          Description
---------   --------------------------------------------------------------------
10.1        Purchase  Agreement,  dated June 7, 2005,  between IPEX,  Inc.,  RGB
            Channel SRL, Massimo Ballerini, B Tech Ltd. and Emanuele Boni

10.2        Purchase  Agreement,  dated June 7, 2005, between IPEX, Inc., B Tech
            Ltd., Massimo Ballerini and Emanuele Boni

10.3        Escrow Agreement between IPEX, Inc., B Tech Ltd., Massimo Ballerini,
            Emanuele Boni,  Wolfgang Grabher and Sichenzia Ross Friedman Ference
            LLP

10.4        Employment of Massimo Ballerini dated June 7, 2005

10.5        Covenant Not to Compete and Confidentiality  Agreement dated June 7,
            2005 between IPEX, Inc. RGB Channel SRL, Massimo  Ballerini,  B Tech
            Ltd. and Emanuele Boni

                                       3
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 5, 2005                       By:  /s/ Milton Ault
                                              ----------------------------------
                                          Name:    Milton "Todd" Ault, III
                                          Title:   Chairman and Acting Chief
                                                   Financial Officer