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PPJ Enterprise Updates Its Shareholders(Market Wire Via Acquire Media NewsEdge) RENO, NV -- (MARKET WIRE) -- 06/09/11 -- PPJ Enterprise (The Company) (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 worldwide, today updates its shareholders. The Company has completed its corrected 2011 1st Quarter Disclosures and plans to file by 6/10/2011 along with a current "Attorney Letter." The Company updates its shareholders today of the following items: 1. The Company is no longer using DME Capital, LLC (DME) at this time; DME has done an excellent job but due to being a sub penny stock company, the Company did not highly benefit. 2. Since the time the Company filed lawsuit against Dr. Narinder S. Grewal and his companies, the Company faced multiple demurrers which delayed company's law suit against the Defendants -- Narinder Singh Grewal, MD, Santa Clarita Surgery Center, and Advance Pain Management ET ALL. Finally in a Demurrer Hearing a week ago, Judge overruled defendants' motion. Now the case will move forward. Trial is currently set for August 8, 2011. The Company Counsels are in trial discovery process. 3. The Company retained Software Developers and is in the process of updating its proprietary software to current compliance and expects to launch "this one of a kind, highly efficient Medical Practice Management /EHR/automated billing and follow up software" by the 4th quarter of 2011. 4. The Company received several feedbacks from PR companies, all suggesting a stock reverse split; after careful considerations, its board decided that 400 to 1 reverse stock split will be appropriate as the company plans to move to a higher exchange such as OTCQB, and then onto AMEX when company assets are collected. 5. The Company will provide incentives post reverse split to all shareholders including anyone who may have lost their shares due to previous reverse split, as below: All shareholders will receive a minimum 10,000 restricted common shares plus: A. One share for each new share for shareholders holding less than 3 months B. Two shares for one new share for shareholders holding 3 months 1 day to 6 months C. Three shares for each new share for shareholders holding 6 months one day to 9 months D. Four shares for each new share for all shareholders holding 9 months one day to 12 months E. Five shares for each new share for shareholders holding over 12 months These shares and dividend shares will be deposited into each shareholder's account once the company is DTC eligible and SEC Rule 144 is complied. (Restricted share certificates may be issued with fees paid by the shareholders.) Comments from the Company shareholders are appreciated on the above issues. 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. Please contact: Public Relations Dept. at PPJ Enterprise (775) 348-5735 Website: www.ppjenterprise.com Email: [email protected] Source: PPJ Enterprise.com |