Propalms, Inc. Signs Letter of Intent to Acquire South Florida IT Solutions Firm
September 28 2010 - 8:29AM
Marketwired
Propalms, Inc. (PINKSHEETS: PRPM) is pleased to announce that the
Company has signed a non-binding letter of intent to acquire 100
percent of the shares of Acute Systems Consulting LLC, a South
Florida IT Solutions firm, in exchange for $200,000 to be paid in
restricted shares of National Energy Services Company valued at
$.05 per share. National Energy Services Company is currently
trading at $.0163 per share. Propalms received the shares when the
Company sold its wholly owned subsidiary in a previous transaction.
Propalms, Inc. recently implemented a new corporate strategy to
focus on buying and selling technology companies and distributing
the proceeds the Company receives on each transaction to its
shareholders.
Acute Systems offers fully managed Cloud hosting solutions.
Acute Systems handles all aspects of Information Technology for
small/medium businesses, to fully virtualized Cloud solutions.
Acute Systems' 2009 revenue was $267,550. Acute Systems is a
certified partner of leading software corporations such as VMware,
Microsoft, Citrix, Dell, 2X, AVG, and Open-E Storage Systems
"I am excited about the relationship with Propalms and how their
strong distribution network and management team can help our
company increase its revenue over the next twelve months," stated
Anthony Morales, Director of Acute Systems Consulting LLC.
"This potential acquisition of Acute Systems is a key building
block as we implement our new corporate strategy," stated Owen
Dukes, CEO of Propalms, Inc. "We feel that our team will enable
Acute Systems to grow into a solid IT solutions firm with increased
revenue within the next twelve to eighteen months,"
Propalms recently announced that the Company will be holding a
Nationwide Teleconference on Wednesday, September 29, 2010 at 4:15
pm EDT. There is expected to be a high demand for the call-in lines
for this Nationwide Teleconference and space will be limited.
Please call +1(407)389-5900 today to reserve your place and receive
the information that will enable you to participate in the
conference. If you would like to suggest a question to be asked
during the teleconference, please email your question to
info@propalms.com.
For more information on Acute Systems Consulting LLC, please
visit www.acutesys.com.
About Propalms, Inc.:
Propalms, Inc. (www.propalms.com) is a technology incubator
company that acquires small and medium sized revenue generating
corporations and helps them grow utilizing their global
distribution and reseller network, as well as providing strong
management and capital.
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.
Contact: For more information, please visit:
http://www.propalms.com OR Investor Relations
1-407-389-5900
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