NORTH YORKSHIRE, United Kingdom, Feb. 12, 2008 (PRIME NEWSWIRE) -- Propalms, Inc. (Pink Sheets:PRPM) is pleased to announce that the Company has voluntarily achieved fully reporting status effective as of February 11, 2008 with the filing of the Form 10-SB, which was filed with the SEC in November 2007. Propalms will request that its Market Maker take the appropriate steps to immediately file its 15c211 with the NASD, provided there are no further comments from the SEC. Once the NASD approves the 15c211, Propalms can have its securities quoted on the NASDAQ Bulletin Board.
The Form 10-SB will make the Company eligible to trade on the NASDAQ Bulletin Board and designate the Company as a fully reporting entity under the Securities Exchange Act of 1934. Pursuant to these rules, Propalms is required to regularly issue Form 10-Q quarterly reports, Form 10K annual reports, Form 8-K corporate development reports, proxy rules, audited financial reports and comply with all listing and disclosure requirements of the US securities laws.
"This moves us one step closer to our goal of uplisting to a higher exchange in the first quarter of 2008 and we will act quickly to ensure that the 15c211 is filed as expeditiously as possible. Being a fully reporting company is integral to our plans to build a successful company," stated Robert Zysblat, President of Propalms, Inc.
To view the complete 10-SB filing, please visit: http://sec.gov/Archives/edgar/data/1421100/000110889007000375/0001108890-07-000375-index.htm.
Propalms recently announced that the Company was invited by Microsoft to attend the 2008 Microsoft Launch Wave Event at Nokia Theater in Los Angeles on February 28, 2008. The Company was asked to join the kickoff of over 200 worldwide events celebrating the launch of Microsoft's new Windows Server 2008, Visual Studio 2008 and SQL Server 2008. Propalms is currently a certified partner with Microsoft and is working towards becoming a Microsoft Gold ISV partner in 2008.
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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