Propalms, Inc. Announces Voluntarily Filing of Form 15 to Delist from OTC Bulletin Board (OTCBB)


MALTON, England, June 24, 2009 (GLOBE NEWSWIRE) -- Propalms, Inc. (OTCBB:PRPM) announced today that it has voluntarily filed a Form 15 with the SEC to delist the common shares of the Company from the OTC Bulletin Board. The Company will apply to change its share-trading venue from the OTC Bulletin Board to the OTC Pink Markets - Current Information OTC Market Tier. This procedure will also relieve the Company of the very costly mandatory reporting requirements of the SEC.

Propalms was and is in good standing with the SEC, being current with all of its required filings. However, relief from the reporting requirements will save the Company a substantial amount of management time and will substantially reduce professional fees on a quarterly and annual basis, while still providing Propalms shareholders with an active marketplace for publicly trading its common stock.

Propalms' decision to delist the Company's common stock is part of the Company's larger plan aimed at reducing costs and improving profitably.

Propalms Chairman and CEO of the Company Robert Zysblat stated, "The expenses related to compliance and reporting requirements for OTCBB listing could be re-directed to better help us grow our business and enhance value for shareholders. This is just one of several cost reduction measures aimed at improving Propalms' performance. Propalms is continuing to expand its business and believes its primary focus should be concentrated on its productive business objectives."

In taking this voluntary action, Propalms has demonstrated its commitment to its shareholders to control costs while providing an active trading venue and maintaining current financial information filings available to the public.

The management of Propalms believes that delisting is a prudent move, but it is certainly reassuring to learn that many other emerging Companies, faced with similar burdens, have taken the same action to assist their shareholders by improving their financial performance.

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.


            

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