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PPJ Enterprise Announces That It Has Secured One New Large CollectionContract With General Surgeon in the Southern California Area ThisWeek and Company Board of Directors Have Decided Against ReverseStock Split
Apr 8, 2010 14:40:44 (ET)
RENO, NV, Apr 08, 2010 (MARKETWIRE via COMTEX) -- PPJ Enterprise (PPJ) (PINKSHEETS: PPJE) ("The Company"), a leader in proprietary automated health care reimbursement cycle (all specialties), online health information digital systems and practice information management digital system software for health care and general businesses worldwide, has announced that its subsidiary, Professional Billing Service (PBS), has signed one new large collection agreement with a Southern California General Surgeon this week.
On April 7, 2010, in a consent without meeting, The Company's Board of Directors have decided against Reverse Stock Split.
"Any new billing/collection contract will provide additional milestones for the company's financial health during the year of 2010, and beyond," noted Chandana Basu (Ms. Basu), CEO of PPJ.
"All new contracts will bring incremental revenue over extended periods of time and provide consistent cash flow which is dependable and easy to forecast out over multi-year periods. These new contracts also represent high-margin opportunities as our existing overhead allows us to add new contracts with minimal addition to staff or internal expenditures.
"All collection contracts are open ended until all balances are collected. We are fortunate to be in an industry which is easy-to-scale and expand without large capital expenditures."
"Our marketing team has been working relentlessly on many accounts and expect to close more new billing and collection accounts," noted Ms. Basu.
All new contracts take approximately 90 to 120 days to see noticeable revenue. These contracts will add to PPJ's bottom line in 3rd quarter of 2010 but significantly by the end of 2010.
The Company has added two more former claim processors in the past 30 days to help expedite our collections.
PPJ Enterprise is traded under the symbol PPJE.PK.
For more information please contact: PPJ Enterprise Management at (775) 348-5735, website: http://www.ppjenterprise.com/ , email: info@ppjenterprise.com.
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.
Contact: At the Company: R. Stewart Public Relations Dept. PPJ Enterprise (775) 348-5735 Fax (888) 213-2031 Email: info@ppjenterprise.com
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