SOURCE: Propalms, Inc.

January 24, 2008 08:31 ET

Propalms, Inc. Closes Out Calendar Year 2007 With Over $992,000 in Sales Transactions

Company Projects Over $1,000,000 in Sales Transactions for Fiscal Year Ending January 2008

NORTH YORKSHIRE, UK--(Marketwire - January 24, 2008) - Propalms, Inc. (PINKSHEETS: PRPM) is pleased to announce that the Company invoiced $992,383 in sales transactions through the 11 month period ending December 31st, 2007 and project over $1,000,000 for the Fiscal Year ending this month. These sales signify the Company's accelerated growth, as they have added new customers and expanded the distribution of Propalms TSE. The sales transactions also include increased license renewals and maintenance contracts.

Propalms' new customers include: Toyota Group (Japan), PricewaterhouseCoopers (Canada), Rexel Senate and Cardinal Hulme School (United Kingdom), Detroit Inland Diesel (U.S.), Lauten Laus (Indonesia), Ibargi Perfecture (Japan), as well as IBM's largest system integrator in Europe. The Company has also increased its international outreach by signing distributors in Holland, Indonesia, Hong Kong, the United States, South America, Thailand and Germany among others.

"I am extremely pleased with our year to date sales transactions and am excited about what the coming months will bring as we continue to add customers and expand the distribution of Propalms TSE. We expect 2008 to be a very profitable year for Propalms and its shareholders," stated Robert Zysblat, President of Propalms, Inc.

Propalms, Inc. recently held its first annual shareholder meeting on Friday, January 11, 2008, at the Luxor Hotel in Las Vegas, Nevada. CEO Owen Dukes discussed the Company's plans to launch version 6.0 of its TSE product during the first quarter of 2008, which will be in conjunction with Microsoft's launch of its Windows Server 2008. The new version of the TSE product will include Virtual IP, which was requested from Toyota to support its use of IP phones.

Propalms' revenue is made from new license sales, expansion licenses to existing customers, as well as annual renewals of licenses and maintenance contracts. The Company has made the decision to take the conservative approach that complies fully with U.S. GAAP accounting rules. Propalms, Inc.'s accounts are based on revenue recognition in accordance with Software Revenue Recognition SOP 97-2. Revenue is based upon a subscription model and the revenue amount is deferred over the life of the license and maintenance contract.

About Propalms, Inc.:

Propalms TSE, the complete Server-Based Management solution that extends Microsoft Terminal Services 2000/2003, offers features such as Application Publishing, Seamless Windows, Resource-based Load balancing, and Web-based management consoles.

Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.

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