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Propalms, Inc. Announces Plans to Issue Stock Dividend of Infrared Systems Shares to Its Shareholders

^{Published on 2010-05-26 07:10:53 - Market Wire}
 

MALTON, ENGLAND--(Marketwire - May 26, 2010) - Propalms, Inc. (PINKSHEETS: [ PRPM ]) is pleased to announce that the Company plans to issue a restricted stock dividend of Infrared Systems International to its shareholders. Mr. Zysblat made the announcement after the Company's shareholder meeting, which was held today at Propalms' offices in Malton, United Kingdom. During Propalms' annual shareholder meeting, Robert Zysblat and Owen Dukes were re-elected to serve on the Company's Board of Directors until the next shareholders meeting. The shareholders also approved the motion to retain the accounting firm of Craig Workinger CPA, Inc. Specific terms of the restricted stock dividend will be disclosed in a joint press release with Infrared Systems International in the near future.

Propalms recently announced that the Company sold its wholly owned subsidiary, Focus Systems, Inc., to Infrared Systems International, in return for $2,280,00 which was paid in the form of 3,000,000 restricted common shares of Infrared Systems stock , based on a per share price of $0.51, plus $750,000 worth of Infrared Systems preferred shares valued at $1.00 per share. In addition, based on the terms of the agreement, Propalms will have an option to purchase an additional $250,000 of preferred shares for up to two years.

Infrared Systems International through its two wholly owned subsidiaries offers unique solutions and applications for a variety of industries. Focus Systems, Inc. ([ www.focus-sys.com ]) offers services and solutions in the VOIP and remote desktop arenas. Infrared Systems (subsidiary) specializes the development of infrared imaging for the aircraft and government sectors. Their pioneering work on the development of Enhance Vision technology for the commercial aircraft industry has received international recognition. In recent years they have been engaged in the export of Infrared detector modules for medical applications from Taiwan. Their most recent project has been the development of a unique physical security system (patent pending) to provide reliable detection and classification with a high level of assurance that false alarms have been rejected.

"We are excited to serve another term on the board of directors of Propalms. The Company continues to implement its strategy of growth through the development of new products and increasing sales globally. This dividend is a way to reward our loyal shareholders," stated Robert Zysblat, President of, Propalms Inc.

About Propalms, Inc.:

Propalms, Inc. ([ www.propalms.com ]) is a global provider of application delivery and secure remote access solutions for Terminal Services and Virtual Desktop Infrastructures as well as Cloud Based Computing environments. Delivering to enterprises of all sizes, Propalms offers reliable, scalable and affordable solutions that simply work. Our belief is that application delivery solutions should be flexible, dynamic and, above all, simple to use.

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.