Company Continues Growth Through Signing of New License Agreements for TSE and VPN Product
NORTH YORKSHIRE, ENGLAND--(Marketwire - November 5, 2009) - Propalms, Inc (PINKSHEETS: PRPM)
is pleased to announce the Company has generated $104,205 in sales
transactions for the month of October 2009 versus $69,877 in sales
transactions that Propalms generated for the month of October 2008, which
is nearly a 50 percent increase. The increase in sales transactions is
attributed to the signing of new customers to license agreements, as well
as, license renewals for Propalms TSE software.
"This has been another excellent month in sales comprising of new customer
wins as well as renewal of maintenance contracts. We have a solid pipeline
of new clients expressing interest in our recently released VPN solution as
well, and I believe that our future sales will continue to grow. Propalms
is now in a strong position to substantially increase our revenue over the
next 12 months which would increase value to our shareholders," stated
Robert Zysblat President of Propalms Inc.
Propalms USA, Inc.'s revenue is made up from new license sales, expansion
licenses to existing customers as well as annual renewal for maintenance.
The Company has made the decision to take the conservative approach that
complies fully with US GAAP accounting rules. Propalms USA, Inc. accounts
are based on revenue recognition in accordance with Software Revenue
Recognition SOP 97-2. Revenue is based upon a subscription model and the
revenue amount is deferred over the life of the license and maintenance
contract. The above figures of $104,205 and $69,877 are sales transactions
that were invoiced in the month of October 2009 and October 2008
respectively.
About Propalms, Inc.:
Propalms, Inc. 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 Act: This release includes forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995 that involves risks and uncertainties including, but not
limited to, the impact of competitive products, the ability to meet
customer demand, the ability to manage growth, acquisitions of technology,
equipment, or human resources, the effect of economic business conditions,
and the ability to attract and retain skilled personnel. The Company is not
obligated to revise or update any forward-looking statements in order to
reflect events or circumstances that may arise after the date of this
release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Contact:
For more information, please visit:
http://www.propalms.com
OR
Investor Relations
1-407-389-5900