RENO, NV — (Marketwire) — 07/26/11 — PPJ Enterprise (PINKSHEETS: PPJE), a leader in proprietary automated health care reimbursement cycle software (all specialties), online health information digital systems software and practice information management digital system software for health care providers and general businesses, today updates its shareholders.
“All requested documents were submitted to FINRA on late Friday, July 15, 2011 for review. As per FINRA, it may take up to a week for their review. Once FINRA-s review is completed, share price will change. The Company CUSIP number changed on 7/10/2011. The Company is now awaiting an -Attorney Letter of Tradability,-” — noted by the Company CEO Ms. Chandana Basu.
The Company-s legal councils advised that the Deposition of Narinder S. Grewal has been rescheduled twice and was finally set for Friday, July 15. With no show by Grewal, measures were taken to remedy the situation by the lawyers and -compel- order granted by the court. Due to this delay, trial date may get pushed at least another month.
The Company personnel and Ms. Basu are extremely occupied with trial preparation since Trial is currently set for August 8, 2011. The Company is delayed to update its Disclosure Statements with the OTC Markets and expects to complete updated filing as soon as possible and be -Current- with OTC Markets.
The Company subsidiary Professional Billing Service has negotiated a large billing and management contract pending signatures. Once this contract is signed, shareholders will be informed.
The Company-s second quarter earnings are less than the first quarter due to a billing service processing center move and server crash which caused over 15 days of loss of work in early May 2011, but everything has been restored. The Company expects to recover this loss in the third quarter.
Forward looking Statements
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company-s growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risk and uncertainties, including those more fully described in the Company-s filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.
Investor Relations PPJ Enterprise web site:
email:
Tel: (775) 348-5735
Fax: (866) 622-321
You must be logged in to post a comment Login