RENO, NV -- (Marketwired) -- 01/22/14 -- PPJ Enterprise (OTC Pink: PPJE) (http://www.ppjenterprise.com/) today issued a news update on its progress with its collection lawsuit and other items due to numerous inquiries by shareholders and others on these matters.
"We are very pleased to share this current update with our Company followers," said Chandana Basu, PPJE's President. "As you can easily imagine, we are looking forward eagerly to the trial on our lawsuit to collect damages. Just this week we have obtained access to more of the Defendant's bank records, 16,500 documents, and while we may need more time for our expert to examine these voluminous records we will have more information on damages." Today through an Ex-Parte hearing the Company has obtained 7 additional days from the Court for review of these documents to further assess damages. New date for Trial in this case is now set for 2/5/2014.
"We also have additional good news for shareholders who are to receive incentive shares," said Ms. Basu. "We are happy to tell you that we have decided to change our transfer agent to Action Stock Transfer Company to reduce charges for your transfer services. By using Action Stock Transfer we can cut the cost to issue a free trading certificate from $200 or more to $20 plus the mailing cost. In addition, we will pay for your Rule 144 legal opinion cost."
"Naturally," Ms. Basu continued, "we are concerned that many of our shareholders may have to pay a stock certificate clearing fee of $500 to $600, giving them incentive shares valued below this clearing fee. Fortunately, Action Stock Transfer will help us to use DWAC with a reasonable monthly cost and an additional cost for electronic transfer of $20.00. Shareholders may not have to pay or the cost may be very minimal."
"As always," said Ms. Basu, "we deeply appreciate the continued support of our loyal shareholders. We again advise shareholders, Company followers and prospective investors to contact their financial advisors if they have questions or concerns about their individual accounts and investment choices. We also remind our followers to monitor OTCMarkets 'Filings' tab for further newsworthy events and corporate updates which will be made public as they occur. More updates will follow shortly."
About PPJ Enterprise
PPJ Enterprise is a proprietary automated health care software company.
We guarantee our customers a 30% increase in collections. Some physicians already using the software have reported a 50% increase in revenues and a 70% decrease in operating costs.
PPJ Enterprise has 23 years of experience as a provider of full-service medical billing services. We excel in providing traditional, customized medical billing services and support to physicians, providers, and healthcare facilities across the nation. In addition to our core medical billing services, PPJ offers a comprehensive, full-service medical billing software product, The Automated Biller®. We believe that ours is the only fully automated product poised to take over the huge health care billing market.
Information in this news release may contain statements about future expectations, plans, prospects or performance of PPJ Enterprise, that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project" and similar words and phrases are intended to identify such forward-looking statements. PPJ Enterprise cautions you that any forward-looking information provided by or on behalf of PPJ Enterprise is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. PPJ Enterprise's actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond PPJ Enterprise's control. In addition to those discussed in PPJ Enterprise's press releases, public filings, and statements by PPJ Enterprise's management, including, but not limited to, PPJ Enterprise's estimate of the sufficiency of its existing capital resources, PPJ Enterprise's ability to raise additional capital to fund future operations, PPJ Enterprise's ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match PPJ Enterprise's capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. PPJ Enterprise does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.