{"url_path":"/sec/pbsv/10-q/2026/item-1","section_key":"item-1","section_title":"Item 1 LEGAL PROCEEDINGS****.**","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-06-15","source_url":"https://www.sec.gov/Archives/edgar/data/1304161/0001654954-26-005986-index.html","accession_number":"0001654954-26-005986","cik":"0001304161","ticker":"PBSV","issuer_name":"Pharma-Bio Serv, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1304161/0001654954-26-005986-index.html","primary_entity_key":"0001304161","primary_entity_name":"Pharma-Bio Serv, Inc."},"word_count":250,"has_tables":true,"body_markdown":"**ITEM 1. LEGAL PROCEEDINGS****.**\n\n \n\nFrom time to time, we may be a party to legal proceedings incidental to our business. Currently, there are no proceedings threatened or pending against us, which, if determined adversely to us, would have a material effect on our financial position or results of operations and cash flows. However, the Company is a complainant in one legal proceeding as described below.\n\n \n\nOn March 15, 2023, the Company’s subsidiaries Pharma-Bio Serv PR, Inc., Pharma Serv, Inc. and Scienza Labs, Inc., filed a breach of contract and money collection complaint against Romark Global Pharma, LLC, Romark Properties, LLC, Romark Biosciences, LLC and Romark Holdings, LLC (collectively, “Romark”), before the Commonwealth of Puerto Rico Court of First Instance, San Juan Superior Section. On November 13, 2023, a judgment was entered by the Court ordering Romark to pay jointly to the Company’s subsidiaries $6,717,431.69, which includes the principal amount of $5,246,782, plus interest up to the date of the judgment. The Company’s subsidiaries are pursuing assets and monies from Romark to collect the judgment. To this date, however, we have been unable to identify assets of Romark against which to collect. Also, multiple other creditors of Romark have filed claims against it. Aside from legal fees and the costs of identifying assets, and costs of collection efforts, no further losses are expected. The Company’s subsidiaries are continuing investigating avenues for collection of this judgement. However, we cannot guarantee a successful outcome in collecting the funds owed to the Company’s subsidiaries."}