SOURCE: Propalms, Inc.

September 16, 2010 08:27 ET

Propalms, Inc. to Host Nationwide Teleconference on September 29, 2010

Company to Update Shareholders on New Corporate Strategy and Recent Developments

MALTON, ENGLAND--(Marketwire - September 16, 2010) -  Propalms, Inc. (PINKSHEETS: PRPM) is pleased to announce that the Company will be hosting its Nationwide Teleconference on Wednesday, September 29, 2010 at 4:15 p.m. EDT to update shareholders and the financial community on recent developments and its new corporate strategy. Participating in the Propalms Nationwide Teleconference will be Owen Dukes, CEO of Propalms, and Robert Zysblat, President of Propalms. The Company will discuss Propalms' recent sale of its subsidiary, its focus for the remainder of 2010, and potential acquisition candidates.

Propalms recently announced that in a private transaction the Company has sold its wholly owned subsidiary, Propalms Ltd., in a transaction valued at $2.3 Million, which is comprised of 100 Million shares of the common stock of National Energy Services Company, Inc., an Over the Counter Bulletin Board Company trading at $0.01 per share on the date of sale and the assumption of $1.3 Million in debt from the balance sheet of Propalms, Inc. This transaction is part of Propalms' new corporate strategy to increase shareholder value by utilizing its global network in order to help expand small technology companies that the Company acquires. Propalms has started the process to change its name to better reflect its new direction as part of its new strategy.

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( 407)389-5900 today to reserve your place and receive the information that will enable you to participate in the conference. If you would like to suggest a question to be asked during the teleconference, please email your question to

"We have made great strides in 2010 and feel it is extremely important to discuss with the investment community where Propalms is headed for the remainder of the year and throughout 2011," stated Owen Dukes, CEO of Propalms, Inc.

Safe Harbor:

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.

Contact Information