SANTA MONICA, CA, June 17, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Parallax Health Sciences, Inc. (OTCQB: PRLX) (''Parallax'' or the ''Company''), an outcome-driven connected healthcare company, today announced that the Honorable Judge Mitchell L. Beckloff of the Superior Court of California, County of Los Angeles, reference case # SC124873 in the matter of Shahlah Melamed v. Parallax Health Sciences, Inc. (the “Matter”) has determined that Parallax is the prevailing party and pursuant to a motion the Company anticipates to be awarded the recovery of its previous reasonable attorney’s fees and expenses. The Company incurred expenses in excess of $1 million with regard to the Matter. Company is now preparing for its next trial where it is seeking damages in excess of $20 million from former owner of Beverly Hills, CA compound pharmacy.
"We continue to be steadfast in our belief that the Company was defrauded in relation to the acquisition of its former subsidiary, RoxSan Pharmacy, Inc.,” stated Paul Arena, Chief Executive Officer of Parallax Sciences, Inc. “The Judge in this matter has ruled in our favor and under the law we are entitled to recovery of reasonable attorney fees and other costs associated with this Matter."
The Company anticipates it will soon receive a court ordered judgment making these expenses immediately collectible from the opposing party. The following cases #124898 Parallax Health Sciences, Inc. v Melamed and #125702 Shahlah Melamed v Parallax Health Sciences, Inc. (the “Remaining Matters”) are scheduled for trial beginning in January 2020.
"We will continue to vigorously defend our position that the Company has been damaged from fraudulent misrepresentations, and all factual evidence from the Matter we just won will be incorporated into the Remaining Matters, wherein we believe the Company should ultimately prevail,” Mr. Arena continued.
About Parallax Health Sciences
Parallax Health Sciences is an advanced technology, outcome-driven telehealth company that allows for cost-effective remote diagnosis, treatment and monitoring of patients through proprietary platforms of integrated products and services. The Company's interoperable novel applications provide patients point-of-care testing and monitoring with information communicated via internet-based mobile phone applications that are agnostic as to operating system and are built on highly sophisticated data analytics. Information is retrieved in real time by physicians that are monitoring patients with chronic diseases or through biometric feedback for health-related behavior modification, and such information can be automatically integrated into electronic patient health records. The Company's products and offerings capitalize upon the digital transformation currently underway in the health care industry in order to improve patient compliance, diagnosis and treatment, while supporting healthcare system cost savings and efficiencies. For more information, please visit www.parallaxhealthsciences.com or www.parallaxcare.com.
Forward-Looking Statements
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our Form 10-K and other reports filed with the SEC. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Contact:
Paul Arena
paul@parallaxcare.com
cell 404-915-8449