SOURCE: Propalms, Inc.

October 05, 2007 08:31 ET

Propalms, Inc. on Track for Profitability in 2008 -- 2nd Quarter Financials Posted on Pinksheets.com

Company Projects to Exceed Revenue by 55% as Compared to Fiscal Year 2006

NORTH YORKSHIRE, UK--(Marketwire - October 5, 2007) - Propalms, Inc. (PINKSHEETS: PRPM) is pleased to announce that the Company is projecting to exceed its revenue in fiscal year 2007, by approximately 55% as compared to fiscal year 2006. Propalms, Inc. has posted its unaudited financial statements for the six-month period ending July 31, 2007, on www.pinksheets.com.

For the first six months of fiscal year 2007, Propalms generated $550,811 in revenue; the Company is on pace to exceed more than $1.1 million in revenue for fiscal year ending, January 31, 2008. Propalms is expected to exceed the 12 month total of $708,434 for the previous year. In the first six months of fiscal year 2007, Propalms generated $211,027 in gross profits. The Company is projecting to cut net loss by over 50 percent from $1,095,025 for fiscal year 2006, to an estimated $511,426 for fiscal year 2007. Propalms expects to become profitable in fiscal year 2008.

"Currently, we are on track to generate approximately $400,000 more in revenue this year than we generated last year. We are excited to be projecting profitability in 2008. The audited financial statements are nearly complete and we expect to announce them with our plans to uplist in the near future," stated Owen Dukes, CEO of Propalms, Inc.

The financials were prepared by the Company's Certified Public Accountant, Mr. Mark Murphy. Mr. Murphy is licensed in both Florida, and California. The posting of the Company's unaudited financials is in preparation for Propalms, Inc. to uplist to the OTC Bulletin Board or a higher exchange after completing its audited financials.

Propalms, Inc.'s revenue is made up from new license sales, expansion licenses to existing customers, as well as annual renewal for maintenance. The Company has made the decision to take the conservative approach that complies fully with U.S. GAAP accounting rules. Propalms, Inc. accounts are based on revenue recognition in accordance with Software Revenue Recognition SOP 97-2. The full explanation is detailed in the financial accounts.

To view Propalms, Inc.'s unaudited second quarter financial statements, please visit: http://pinksheets.com/otciq/ajax/showFinancialReportById?id=12042.

Propalms, Inc. will be hosting a Nationwide Teleconference on October 11, 2007, to update shareholders and the financial community on recent developments with the Company. There is expected to be a high demand for the call-in lines for this Nationwide Teleconference and space will be limited. Please call 1-866-THE-APPL(E) today to reserve your place and receive the information that will enable you to participate in the conference.

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 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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