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Propalms, Inc. Increases Total Assets by 217 Percent for Its Fiscal First Quarter Ending April 30, 2010 as Compared to Its Fisc

^{Published on 2010-06-15 05:40:02 - Market Wire}
 

MALTON, ENGLAND--(Marketwire - June 15, 2010) - Propalms, Inc. (PINKSHEETS: [ PRPM ]) is pleased to announce that the Company has posted Total Assets of $1,837,868 for its fiscal first quarter ending April 30, 2010 as compared to Total Assets of $580,516 for its fiscal first quarter ending April 30, 2009, a 217 percent increase. The increase in Propalms asset base is due in part to the advancements made in its software product line. During the past twelve months, Propalms released its new VPN solution, upgraded its TSE 6.0 to support Microsoft's Windows R2 product, and released Propalms Virtual Desktop Integrator (VDI). Propalms also posted its first profitable quarter with net income of $194,961 for its fiscal first quarter ending April 30, 2010 as compared to a net loss of $322,242 the Company posted for the same period, prior year. One of the major factors in contributing to Propalms profitability for the quarter is from the gain the Company realized on the sale of its wholly owned subsidiary, Focus Systems, Inc. to Infrared Systems International. Propalms' Pink OTC Markets Quarterly Disclosure Statement and fiscal quarter ending April 30, 2010 financial statements are now posted on [ www.pinksheets.com ].

Propalms posted deferred revenue for its fiscal quarter ending April 30, 2010 of $845,862 as compared to deferred revenue of $586,650 for the same period ending April 30, 2009, an increase of 44 percent. The increase in deferred revenue is due to the fact that Propalms has been able to increase its sales transactions consistently each month by signing new customers through its worldwide distribution channel. The Company has also been able to generate sales through its current client base. Propalms existing customers are buying licenses from the Company's upgraded product line and their renewal of their maintenance and support agreements.

"We are excited that the Company is continuing to show strong financial growth by building our asset base as well as continuing to increase our profitability through sales and income generating transactions," stated Owen Dukes CEO, Propalms Inc.

To see Propalms OTC Markets Quarterly Disclosure Statement and fiscal first quarter ending April 30, 2010 financial statements, please visit [ www.pinksheets.com ].

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. 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.