MALTON, England, Dec. 29, 2008 (GLOBE NEWSWIRE) -- Propalms, Inc. (OTCBB:PRPM) is pleased to announce that the Company looks forward to a prosperous 2009, following a tremendous year in 2008. During the past year, Propalms application for quotation on the Over the Counter Bulletin Board was cleared by FINRA. The Company also signed numerous customer contracts for its newly released Terminal Services Edition (TSE) 6.0 and VPN product. Along with signing new clients, Propalms expanded its operations to reach vast growing economies throughout the Far East, Europe, and South America in order to increase its brand presence in those regions.
Over the last year, Propalms completed their goal set forth at the end of 2007 to have the Company's application cleared by the Financial Industry Regulatory Authority (FINRA) to begin quotation on the Over the Counter Bulletin Board. The OTC Bulletin Board consists of just 3,731 securities with 198 approved market makers. Propalms, Inc. began its campaign to up list in November of 2007 and filed its Form 211with FINRA last April. The total share volume for all securities on the OTC Bulletin Board in the month of September 2008 was 21,974,648,169 which equates to a total dollar volume of over $1 billion.
In 2008, The Company acquired vFortress, a security solutions provider that gave Propalms the worldwide IP rights and source code for vFortress' Virtual Private Network (VPN) solution. The Company began selling the VPN solution in 2008 as an individual product called "Propalms VPN."
TSE Version 6.0 was released in August to provide out-of-the-box support for Windows Server 2008 while remaining compatible with Windows 2000 and 2003 servers. Propalms TSE 6.0 adds indispensable management capabilities and is scalable to accommodate growth in the number of users, applications, and servers. TSE 6.0 will help companies ease their transition to Windows 2008 while still using a common management interface across all servers. It will also allow users to easily navigate menus and manage all their applications from one management console while providing virtual desktops for customers who are looking to enter the virtual desktop infrastructure.
Also in 2008, Propalms was able to establish multiple distribution channels throughout India and other countries. India is currently the world's second fastest growing economy. The Company signed Teqdis as a new distributor to begin selling their product line to the Indian corporate, government and private sectors. The Company closed off the year strong with an announcement that it has expanded into the Australian market with "Propalms Australia." Propalms announced that its website would be available within the Australian market at www.propalms.com.au and www.propalms.net.au.
"Our growth in all facets of our business during 2008 was tremendous. From new customers, partners and distributors, to taking major strides in having our application cleared for quotation on the Over the Counter Bulletin Board, Propalms has had an incredible year. One of our main goals in 2009 is to expand our reach globally through our distribution partners and new support offices world wide," stated Owen Dukes, CEO of Propalms, Inc.
About Propalms, Inc.:
Propalms, Inc. is a global provider of application delivery 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.
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.