MALTON, England, April 14, 2008 (PRIME NEWSWIRE) -- Propalms, Inc. (Pink Sheets:PRPM) is pleased to announce that its Market Maker has filed a Form 211 with the Financial Industry Regulatory Authority (FINRA). When cleared, this will allow the Company to begin trading its shares on the Over-the-Counter Bulletin Board (OTCBB). According to Pink Sheets, there are 5,122 companies listed on the Pink Sheets; Only 75 of those companies uplisted to the the OTCBB in 2007.
The Securities and Exchange Commission's acceptance of Form 10-SB was essential to make Propalms eligible to trade on the OTCBB and designates 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 U.S. securities laws.
"We have been working diligently on our audited financials in an effort to uplist to the OTCBB and we are ready to take the next step. Uplisting to the OTCBB enables us to better market our product and expand our distribution channels. This event is essential to increase our value as an investment and as a company," stated Owen Dukes, CEO of Propalms, Inc.
"Our goal is to position the Company in a manner that will make us an attractive investment for both our business partners and shareholders. The Bulletin Board is just the first step as we execute our business plan to bring real value to all our shareholders," stated Robert Zysblat, President of Propalms, Inc.
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.