RENO, Nev., Oct. 26, 2011 /PRNewswire/ -- PPJ Enterprise (Trading Symbol: PPJED) (PPJE.pk) (The Company), a leader in proprietary automated health care reimbursement cycle software (all specialties), online health information digital systems software and practice information management digital system software for health care providers and general businesses announced today that: the Company received approval from the Financial Industry Regulatory Authority ("FINRA"), clearing the 100-to-1 reverse stock split previously approved by the Board of Directors and announced on June 9th, 2011.
According to FINRA's approval, the reverse split will take effect at the open of business today, 26th of October, 2011, the Company's trading symbol will be changed from "PPJE" to "PPJED" for 20 business days, after that the Company's trading symbol will revert to "PPJE". The Company's common stock will trade under a new CUSIP number, 69353D307.
As a result of the reverse split, the number of issued and outstanding shares of the Company's common stock has been reduced from 6,082,769,799 to 60,827,697.
Also as a result of the reverse split each one hundred shares of the Company's common stock issued and outstanding on the effective date will represent one share of the Company's common stock. Fractional shares existing as a result of the reverse split will be rounded up to the nearest whole share.
All records of the Company's transfer agent, Pacific Stock Transfer Company (PST), will be updated to give effect to the reverse split. Stockholders whose certificates are held in "street name" or on deposit with their brokerage firm, as part of the DTC system, will be automatically adjusted on the same basis.
The reverse stock split is intended to increase the per share trading price of the Company's
common stocks, which should make the Company stocks more attractive to a broader range of institutional and other investors and in attracting and retaining employees and also enhance the Company's prospects with customers and vendors.
All shareholders are requested to provide purchase dates and number of stocks via email to the Company, the Company will provide updated share counts using incentive formula as it was declared on June 9th 2011 by the Company.
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.
SOURCE PPJ Enterprise