PPJ Enterprise Announces Its Comeback
August 07 2009 - 10:28AM
Marketwired
PPJ Enterprise (PINKSHEETS: PPJE) today announced its comeback
after long drawn unforeseen situations; the Company took a step
back for a year being out of public sight. The Company is in the
process of regaining its strengths through resolution of the issues
that kept the Company out of the public eye.
The Company hired multiple Investors awareness Consultants to
increase the Company's visibility. These consultants worked very
hard to bring this Company back into the public eye during the past
week. Due to the increase in trading volumes the Company can now
plan to sell its shares to fund its growth.
Background: During 2004 through a Reverse Merger the Company
acquired the assets of a nationally known medical billing service
business company and a healthcare business related automated
revenue cycle management, electronic health record software
company. Prior to the merger, the medical billing service company
was growing 60 to 100% each year generating gross revenues of as
much as or more than $2 million per year. The Company became party
to legal actions due to vindictive actions of an ex client who
wanted $1 million unjustly from the Company. His demands were not
entertained, as a result that ex client contacted some of the
current clients at that time and convinced them to cancel their
billing agreements with the company and demand payoffs. The Company
became the party to multiple litigations.
Some of the ex clients who were already taking part of their
business out of the Company quietly during the contract period to
save 10% billing and collection fees (in violation of their medical
billing agreement), they have joined with the said ex client. Every
one had the same slogan to make their allegations stronger against
the Company in their point of views.
The said billing service was one of the most experienced service
companies in the country to handle pain management and anesthesia
billing but due to bad rumors, the billing service was not able to
gain too many new clients during 2006 and 2007. When the largest
client/ex Board of Director stopped paying the Company its earned
billing and collection fees, it had to close its doors after 18
years in very successful business.
"To eliminate the Company's legal problems and potential
liabilities, I have taken over the billing service with all
lawsuits and liabilities leaving the Company (PPJ Enterprise) debt
free except for the convertible notes," said CEO Ms. Basu. So Ms.
Basu became a party to all law suits. She was sued as stated above
especially by the ex client/ex Board of Director.
"To defend myself I have personally audited all accounting
records from 1999 to 2007 for the trial preparation and I have
discovered documents that turned around ex client/ex Board of
Director's claims against me and the Company. I also filed Cross
Complaint for damages. At end, trial judge ruled that ex client/ex
Board of Director could not prove his claims so his complaint
against me was denied but my cross complaint was denied due to no
standing since contract was not with me," said Ms. Basu.
"The discovery of facts during my trial will bring drastic
changes to the future of this Company," said Ms. Basu "Details of
these facts will be disclosed in news release in the very near
future."
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
At the Company: Chandana Basu CEO PPJ Enterprise (775) 348-5735
Fax (888) 213-2031 Email: ceo@ppjenterprise.com
http://www.ppjenterprise.com
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