PenUltimate Inc. Now Public Firm

IRVINE — PenUltimate Inc., a publisher of so-called pen computing software, went public Wednesday in a reverse acquisition transaction.

The company went public on the NASDAQ exchange by allowing itself to be acquired by Mount Tabor Properties, a publicly traded holding company with 5.79 million shares outstanding.

PenUltimate, a start-up company with four employees and $600,000 in financing, aims to break into the market for pen computers, which use a pen-like stylus to input data rather than standard keyboards.

Paul Mondschein, president, said the company’s first product will be “SalesForce,” a sales and marketing software program for field agents.