VANCOUVER, British Columbia, July 13, 2021 /PRNewswire/ -- Hello Pal International Inc. ("Hello Pal" or the "Company") (CSE:HP Frankfurt:27H OTC:HLLPF), a provider of rapidly growing international live-streaming, language learning and social-crypto platform, is pleased to announce that it achieved $2,820,264 CAD in revenue for the month of June 2021 relating to its livestreaming services and cryptocurrency mining operations.
Highlights of June 2021
- Strong revenues of $2,820,264 CAD supported by flagship livestreaming services.
- The Company Year-To-Date (January 1, 2021 to June 30, 2021) has achieved a total revenue of $15,401,123.97 CAD.
- Profitable cryptocurrency mining operations boosting growth of livestream business.
- Robust diversity of livestreaming in Middle East, Southeast Asia and China.
- Crypto-mining gross margin for the period of 73%, while livestream gross margin for the period of 8%.
Figure 1 – Monthly Revenue Chart
Cryptocurrency mining operations have significantly enhanced the core livestreaming business by:
- Generating significant cash flow to support user base expansion;
- Livestreaming user base will soon have access to cryptocurrency, which is essential for users in Emerging Markets with weak fiat currencies.
- Integrate soon to be launched Crypto Pal app with livestreaming services.
Diversification within Hello Pal
Hello Pal proactively diversified its core business of livestreaming with an expanded user base into non-China markets (the "Emerging Markets"), which is led by the Middle East (United Arab Emirates, Saudi Arabia, Egypt and Bahrain) and the Southeast Asia. Due to this strategic long-term decision, the Emerging Markets account for over double livestreaming time, over triple the daily hosts, triple the daily gift givers and top-up users exceeds those of China. The Company will continue to expand into new regions to facilitate future growth. There are approximately 5,800,000 registered users on the platform
Hello Pal strives to be a truly international platform that offers its suite of services to the citizens of the world. In such, it has been receiving revenue in numerous fiat currencies ranging from CNY , CAD , USD , SAR plus various other middle eastern and south Asian currencies. Hello Pal converts all revenue to CAD for convenience purposes as its reports to the public markets. Up to this point all revenues reported have been fiat currencies which are received trough cash purchases by its user base via in app purchases in their respective app stores.
For the first time the Company is pleased to report the addition of a full month of crypto-mining revenue, which includes LTC , DOGE, BTC , ETH amongst others via our newly acquired crypto mining services.
"Due to our diversified mining locations and green-energy focus, we're pleased that our crypto-mining operations have been able to continue despite the recent turbulence caused by China regulations in this area," said KL Wong, Founder and Chairman of the Company. "We expect that it will continue to make an increasingly significant impact to our company, both in terms of our bottom line, as well as enhancing our core social and livestreaming services."
Currently, Crypto Pal Technologies Ltd., which is 51% owned by Hello Pal, primarily mines Litecoin and Dogecoin. All Litecoin is sold at spot price into USDT and 50% of Dogecoin is sold at spot price into USDT as generated. All supplementary crypto is sold at spot price as generated into USDT. The Hello Pal team believe that the remaining DOGE in inventory will be beneficial for the roll out of the Crypto Pal app and enhance the entire platform from its core livestreaming business to language and travel. The Company will outline its Crypto Pal progress, intentions, and roll out in a separate news release.
To download Hello Pal, Language Pal, Travel Pal or the proprietary Phrasebooks please visit the IOS or Android store. For information with respect to the Company or the contents of this news release, please contact the Company at (604) 683-0911 or visit the website at hellopal.com. Email inquiries can be directed to: firstname.lastname@example.org.
About the Hello Pal Platform
The Hello Pal Platform is a proprietary suite of mobile applications built on a user-friendly messaging interface that focus on social interaction, language learning and travel. Hello Pal, has been designed from the ground up to be easy to use and enables users' the freedom to speak in their own language regardless of the other person's language they are speaking to. Hello Pal's overriding mission is to bring the world closer together through social interaction, language learning and travel. By creating a platform where it is easy to instantly interact with others around the world and giving them the tools to communicate with each other in a joyful and fun way, we hope to do our part (however small) in fostering understanding and tolerance between all citizens of the world.
Information set forth in this news release contains forward-looking statements. These statements reflect management's current estimates, beliefs, intentions, and expectations; they are not guarantees of future performance. Hello Pal cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Hello Pal's control. Such risks and uncertainties are described in Hello Pal's annual and interim financial statements available on www.sedar.com. Although Hello Pal is currently generating revenues, Hello Pal remains in the growth stage and such revenues are yet to be profitable. Accordingly, actual, and future events, conditions and results may differ materially from the estimates, beliefs, intentions, and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Hello Pal undertakes no obligation to publicly update or revise forward-looking information.
THE CSE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Hello Pal International
200 – 500 Denman Street
Vancouver, BC, V6G 3H1, Canada
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SOURCE Hello Pal International Inc.