PPJ Healthcare Enterprises Inc (OTCMKTS:PPJE) share prices were up 100% on Tuesday to $0.00020 and down 0.51% in after-hours trading. Share prices have been trading in a 52-week range of $0.00 to $0.10 so there’s a lot of room for upside. The company has a market cap of $8,080.00 at 40.35 million shares outstanding.
PPJ Healthcare Enterprises is a healthcare finance company that is engaged in provision of automated healthcare reimbursement software, online health information digital systems software and practice management digital system software for healthcare providers. Its services include medical billing services, practice management consulting services and testing services.
In particular, the company focuses on a medical billing system known as Automated Biller, which comes with all of the equipment and the accompanying resources to bill as a professional billing service. It offers an approach to help practitioners in any field of medicine. The company operates a pain management center and blood culture lab and assists in creating management plans for patients suffering from chronic pain due to of a range of disorders, diseases or other medical complications. Also, PPJ Healthcare Enterprises is focused on conducting medical marijuana potency tests.
In a press release yesterday, PPJ Healthcare Enterprises announced that it has undertaken a new plan in the making and distributing marijuana edibles in a massive scale since California is now approved for recreational marijuana. Its home state, Florida, has been approved for medical marijuana.
California being approved for recreational use and PPJE being the only public Company registered in the State, we feel we have huge advantages on this new era in business. We have tested and learned how to prepare edibles such as cookies, cupcakes, honey, ketchup, mayonnaise and many other food items using marijuana. We will now put our full attention in creating the Company’s plans to expand our business and work with partners to deliver highest quality food products using marijuana.” said Chandana Basu, CEO of PPJ Healthcare Enterprises.
After the November 8 elections, California, Massachusetts, Maine and Nevada now make it legal for anyone over 21 years old to smoke marijuana. Apart from that, Alaska, Colorado, Oregon, Washington and the District of Columbia are challenging the federal government which classifies marijuana as a Schedule I drug, wherein there is no currently accepted medical use and a high potential for abuse. The vote makes more than 20% Americans living in states where marijuana use is legal, thereby representing a huge market for PPJ Healthcare Enterprises services.
While the company has focused its previous efforts in healthcare and medical billing, it has already delved into the cannabis industry and is well-positioned to take advantage of industry growth. Most marijuana-related companies have focused on product development and growing services but PPJ Healthcare Enterprises is unique in its approach of conducting medical marijuana potency tests.
ArcView Market Research estimates the legal market for marijuana will eclipse $22 billion by 2020 while legal cannabis sales reached $5.7 billion in 2015 and are projected to hit $7.1 billion this 2016 alone. Also, if the FDA changes its classification of marijuana in light of the vote, there could be tremendous upside and longer-term gains for companies that are invested in this industry.
DISCLAIMER: There is a substantial risk of loss with any speculative asset, especially small cap stocks. The opinions expressed are those of the author, and do not constitute recommendations to buy or sell a stock. Do your own research before committing capital.