Science & Technology
Tue, June 29, 2010Mon, June 28, 2010Sun, June 27, 2010Fri, June 25, 2010Thu, June 24, 2010Wed, June 23, 2010Tue, June 22, 2010Mon, June 21, 2010Sun, June 20, 2010Fri, June 18, 2010Thu, June 17, 2010Propalms, Inc. to Issue Stock Dividend of Infrared Systems International to Its Shareholders of Record as of July 16, 2010
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Published in Science and Technology on Wednesday, June 23rd 2010 at 5:41 GMT by Market WireMALTON, ENGLAND--(Marketwire - June 23, 2010) - Propalms, Inc. (
Propalms shareholders are to receive 1 (one) restricted share of Infrared Systems International common stock for every 30 (thirty) shares they own of Propalms, as of the Record Date; no fractional shares shall be issued.
Infrared Systems International is currently trading at approximately $.018 per share. Propalms shareholders of record as of July 16, 2010 will receive one (1) restricted share of Infrared Systems International common stock for every thirty (30) shares they own of Propalms on the record date.
Propalms, Inc. recently sold its wholly owned subsidiary Focus Systems, Inc. to Infrared Systems International in return for $2,280,000 which was paid in the form of 3,000,000 restricted common shares of Infrared Systems stock, 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 recently effected a forward stock split of outstanding shares of its common stock, effective on June 10, 2010, at a ratio of ten new shares of common stock for every one share owned (10:1 forward split) increasing the Company's holdings to 30,000,000 shares.
"This dividend is a bonus for our loyal shareholders, who will now receive ownership in a dynamic company that is focused on developing and marketing unique solutions for a variety of vertical markets," stated Robert Zysblat, President of Propalms, Inc.
About Infrared Systems International:
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.
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.
