SOURCE: PPJ Enterprise

March 02, 2009 09:30 ET

PPJ Enterprise Announced Today That It Has Disposed the Subsidiary "HBSGI," It Will No Longer Carry Assets and Liabilities of "HBSGI" in Its Book as of January 1, 2008

RENO, NV--(Marketwire - March 2, 2009) - PPJ Enterprise (PINKSHEETS: PPJE) announced today that it has made agreement with Chandana Basu (Ms. Basu) on June 13, 2008 that as of January 1, 2008, it would reverse the purchase of Healthcare Business Services Groups, Inc. (Healthcare) (a Delaware Corporation) shares which it originally purchased on April 23, 2004 from Ms. Basu along with two other entities Automated Software Corp. and Silver Shadow properties, LLC by issuing 25,150,000 shares to Ms. Basu. Healthcare was purchased because it was generating high income and the company was growing 50 to 70 percent per year during the year of 2000 to 2004. But since the Registrant has taken over Healthcare, Healthcare became a party to multiple lawsuits. Since 2005, Healthcare experienced continued reduction of income and decline in growth. Ms. Basu purchased Silver Shadow Properties, LLC from PPJE by paying $750,000 in late 2005.

PPJE will continue to operate by leasing Automated Medical Practice Management software through its Subsidiary Automed Software Corp and will explore the possibilities of the new added lines of business -- Healthcare Staffing and medical office receivable financing.

Ms. Basu has accepted the above transaction and as a result she agreed to return 33.33% (1/3) of original 25,150,000 shares back to the treasury.

As a result of this transaction PPJE will no longer report Healthcare's assets and liabilities in its books as of January 1, 2008.

"I am confident that this transaction will put an end to the doubt about PPJ Enterprise's future growth and may increase shareholders equity," said CEO Ms. Basu.

About PPJ Enterprise.

PPJ Enterprise (PINKSHEETS: PPJE) is a provider of comprehensive, full-service medical practice management software. We believe this is the only fully automated medical billing and practice management system in the United States.

For more information please contact: PPJ Enterprise Management at (775) 348-5735, website:, email:

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 forwarding 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 Information