TAMPA, Fla., Jan. 21, 2016 (GLOBE NEWSWIRE) -- PPJ Healthcare Enterprises, Inc. (OTC Pink:PPJE) today announced that the Company's CEO and President, Chandana Basu (Ms. Basu), has agreed to cancel 2,500,000,000 of her own Common shares in PPJ Healthcare Enterprises, Inc. In exchange, the Company has agreed to issue to Ms. Basu the equivalent amount of Class B Preferred stocks. Ms. Basu will still have 51% voting power.
After the cancellation of Ms. Basu's 2,500,000,000 shares, the capitalization of the Company will be approximately 1.5 billion common shares outstanding.
"The cancellation of my common shares increases the percentage ownership of every other common stockholder of our Company. Our core shareholder base has been with us and supportive over some difficult times in the Company. We believe we have put those difficulties behind us and want to take steps to put our shareholders and the Company in the best position to succeed for the future. By eliminating my common stocks at this time, the shareholders can be assured that I am here and committed to the long term growth and prosperity of the Company."
Prior to her agreement to cancel all of her shares, the Company also reduced the authorized shares from 20 billion to 5 billion.
The company, which is a leader in proprietary automated health care reimbursement cycle software, online health information and medical practice management digital system software, is pleased to offer incentives to all shareholders of post-Reverse Split (all) shares.
As always, 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.
Regarding other news and events, the company reminds its followers to monitor the OTC Markets filings tab for further newsworthy events and corporate updates, which will follow as they happen (http://www.ppjenterprise.com).
Forward-looking Statements
Information in this 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 constituted 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.