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.
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!