have the latest copy of Parallels installed. There are 2 things missing. 1. The option to install mountain lion from the wizard is missing. 2. when i try to use the dmg (InstallESD.dmg) the VM just hangs after the apple logo. Nothing moves. any help
Solved I tried upgrading an already working Lion VM to Mountain Lion and stumbled on the same problem: getting stuck at the Apple logo. Solution: Configure your VM to have 2 CPUs, it will install.
GOD BLESS YA! I've been pulling my hair out with this for the past 2 weeks!!! 2 CPUs did the trick. It would just hang on a gray screen with one. Thanks for posting Erol!