PARALLAX HEALTH SCIENCES, INC. (OTCMKTS:PRLX) Files An 8-K Other EventsITEM 8.01
On March 17, 2017, in Melamed v. Parallax Health Sciences, Inc., action No. SC124873, before the Los Angeles Superior Court (the “Matter”), a Ruling was issued in favor of Defendant, Parallax Health Sciences, Inc. (“the Company”). In the Matter, Plaintiff, Shahla Melamed, sought rescission of the August 13, 2015, Agreement for the Defendant to Acquire 50% of the Issued and Outstanding Shares of RoxSan Pharmacy, Inc. and Its Assets and Inventory (the “Purchase Agreement”). Rescission was sought on the basis that, allegedly, in order to acquire RoxSan Pharmacy, Inc., the Defendant and its principals had allegedly defrauded Plaintiff, there had allegedly been a complete failure of consideration, and a unilateral mistake was allegedly made on the part of Plaintiff.
The Court ruled that no fraud on the part of Defendant or its principals had been demonstrated. The Court further ruled that there had been no failure of consideration, and that Plaintiff’s entry into the Agreement was not a result of a unilateral mistake on her part. Therefore, the Court ruled that the Plaintiff is not entitled to rescission of the Purchase Agreement.
The Minutes of the Ruling were entered by the County Clerk on March 17, 2017.
About PARALLAX HEALTH SCIENCES, INC. (OTCMKTS:PRLX)
Parallax Health Sciences, Inc. focuses on personalized patient care through the use of the Company’s Compound Pharmacy (Roxsan, Inc.) and eventually through the diagnostic testing platform capable of diagnosing and monitoring various health issues. The Company’s segments include Retail Pharmacy Services (RPS) and Corporate. The RPS segment provides a range of pharmacy services, including retail, compounding and fertility medications. The Corporate segment provides management and administrative services to support the Company. The RPS segment dispenses prescription drugs, both through local channels by direct delivery, as well as mail order. The RPS segment also sells an assortment of general merchandise, including over-the-counter drugs, beauty products and cosmetics, seasonal merchandise and convenience foods, through the Company’s pharmacy. It holds interests in Quality of Life Peace of Mind (QOLPOM). The QOLPOM Hub is a personal medication dispensing and remote monitoring solution. PARALLAX HEALTH SCIENCES, INC. (OTCMKTS:PRLX) Recent Trading Information
PARALLAX HEALTH SCIENCES, INC. (OTCMKTS:PRLX) closed its last trading session up +0.005 at 0.245 with 5,500 shares trading hands.