CALABASAS, Calif., April 19, 2006 (PRIMEZONE) -- PracticeXpert, Inc. (OTCBB:PXPT), today announced that it intends to file its Form 10KSB annual report to the Securities and Exchange Commission for the period ended December 31, 2005 by or on April 21, 2006. This filing was due on Monday, April 17, 2006. However, due to unforeseen circumstances the Company was unable to complete the filing as planned. In keeping with market regulations, until such time as the Company has completed the filing, the OTC Bulletin Board trading system may attach the letter "e" to PracticeXpert's ticker symbol.
Commenting on the late filing, Michael Manahan, who was recently appointed as chief executive officer, stated, "While we obviously do not like filing late, it is also very important that information we provide to the investing public be as correct and accurate as possible, and in full compliance with SEC and standard accounting rules and regulations. During 2005 we discontinued a number of business operations which resulted in additional accounting and audit work, that we were not able to complete within the time frame allotted. We see this late filing as an aberration, and anticipate that going forward SEC reports will be filed on a timely basis."
About PracticeXpert, Inc.
PracticeXpert provides turn-key practice management services and technology solutions to medical practitioners that improve operational efficiencies and enhance cash flow. PracticeXpert offerings include medical billing, accounts receivable management, practice management, transcription, consulting, seminars, practice management software, electronic medical records software and related services. PracticeXpert bundles its technology applications with its billing and other practice management services to provide a complete and integrated solution to its physician customers. To find out more about PracticeXpert, Inc. (OTCBB:PXPT), visit our website at www.practicexpert.com.
Note: Any statements released by PracticeXpert, Inc. that are forward- looking, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act. Editors and investors are cautioned that forward-looking statements invoke risk and uncertainties that may affect the Company's business prospects and performances. These include economic, competitive, governmental, technological and other factors discussed in the statements and in the Company's filings with the Securities and Exchange Commission.