PPJ Healthcare Enterprises Inc (PPJE)

[Arthur]

PPJE posted its financials, now current:
http://www.otcmarkets.com/stock/PPJE/filings

$102K of revenue for a direct cost (outsourcing cost) of $97.5K, plus $7K of marketing, plus $7K of of legal expenses,

for a quarterly operating loss of ($9,789).

According to the financials, no new shares were issued, O/S: 7,010,836,058.


Assets-wise the company is rich with $997K of "contracts receivables" and $921K of "investments in software".

$1 cool million dollars is currently owed to the lone officer and director.

Still $393.6K of of outstanding in "secured" convertible notes.

There are 2 bizarre notes:

Other liability from 2006 $1,118,557 not added in the liabilities – Preferred shares to be issued- lender in Bankruptcy.

and,

** Preferred Stocks to be issued, not added in the liability

There's a long diatribe against a well-known iHub commenter.

Note F: Convertible Notes
To finance its operations, the Company has entered a series of one year convertible notes. In general, these notes are convertible into common stock at a discount of from 40% to 60% of the market price at the time of conversion. As of March 31, 2014, three of these notes with a face amount of $78,222 were due and unpaid. During 2013, and 2014 the Company issued 22 notes with a face amount of $516,480. Some of these notes were converted during 2015. The balance of these convertible notes is approximately $342,000 without interest and late fees on September 30, 2016.
The Company is in default on these notes and has entered negotiations with the lenders.

2006 Notes
On June 27, 2006, the Company entered a Securities Purchase Agreement (the “Securities Purchase Agreement”) with New Millennium Capital Partners II, LLC, AJW
Qualified Partners, LLC, AJW Offshore, Ltd. and AJW Partners, LLC (collectively, the “Investors”). Under the terms of the Securities Purchase Agreement, the Investors purchased an aggregate of (i) $2,000,000 in callable convertible secured notes (the “Notes”) and (ii) warrants to purchase 50,000,000 shares of our common stock (the “Warrants”).
(...)
The Company is currently in default on $342,000 of these notes and has entered settlement negotiations with the lenders.[color=red][/color] About the 2006 convertible notes, the lender is in bankruptcy and the Company may be able to issue Class B Preferred B Stock for these notes. At present, there are $1,118,557 of such notes outstanding.

Note G: Stock Issuance
During 2016, the Company issued 1,479,912,501 shares of Common Stock pursuant to the conversion of debt and 2,100,000,000 for services. Five thousand shares of Preferred E were issued as incentive shares.