PPJ Healthcare Enterprises, Inc. Cancels Its Pending Reverse Stock Split
Jan 26, 2016
OTC Disclosure & News Service
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TAMPA, Fla., Jan. 26, 2016 (GLOBE NEWSWIRE) -- PPJ Healthcare Enterprises Inc. (OTC Pink:PPJE) announced today that the Board has voted to cancel its pending reverse stock split. The decision to cancel the reverse split is part of the Company’s latest actions to improve shareholder relations and value including the reduction of its authorized from 20 Billion to 5 Billion and the exchange of 2.5 Billion shares by the CEO for Preferred Class B Shares. These recent corporate actions will result in the Company having 5 Billion authorized common shares with approximately 1.5 Billion outstanding and no reverse split.
“Avoiding this reverse split and cutting our common share by 75 percent were important steps in rebuilding shareholders' value and trust,” said Chandana Basu, CEO of PPJ Healthcare Enterprises Inc.
"The next key to progress for the Company and shareholders is to work with our debt holders in a shareholder friendly manner, which we are pleased to say such discussions are well underway," noted Basu.
The Automated Biller, the company’s revolutionary medical billing system, recently launched its online demonstration and it will be displayed at more medical conferences in multiple states.
“Our company remains steadfast in providing the healthcare industry with a product that will reshape the industry,” Basu said. “Our product, along with our faithful and future investors, paves the way for a future that will revolutionize our outlook.”
PPJE management advises shareholders, company followers and prospective investors to contact their financial advisors if they have any questions or concerns about their individual accounts and investment choices.
