Hello Pal Reports Strong Quarterly Revenues
VANCOUVER, BC, February 8, 2022 /PRNewswire/ — Hello Pal International Inc. (“Hello Pal” or the “Company”) (CSE: HP) (Frankfurt: 27H) (OTC: HLLPF), a growing international live streaming, language learning and social crypto platform provider rapid, is pleased to announce that it has filed its interim financial statements and management’s report for the period ended November 30, 2021 are filed on SEDAR at www.sedar.com.
“Our live streaming operations continue to deliver strong operating results as we continue to diversify outside of China. With the acquisition of the highly sought after L7 miners, we are excited to become a North American miner” , said KL Wong, Founder and Chairman of the Company.
- Total income of $17,596,813 in 2021 since the beginning of the year (including $17,596,813 for live streaming and net revenue from $1,869,865 for cryptocurrency) compared to $8,740,211 in 2020 since the beginning of the year.
- Gross profit of $3,573,770 in 2021 since the beginning of the year (including $1,869,865 for cryptocurrency mining and $1,703,905 for live streaming) compared to $698,386 in 2020 since the beginning of the year.
- L3+ minerals sold for a total consideration of 3.75 million USDT (approximately CAD 4.7 million), which represents a profit of 100% compared to the effective purchase price in June of this year.
- New purchased L7 miners will be operational in North America.
For live broadcast operations, the Company continued to record a significant increase in revenue from non-China territories compared to 2020 – in particular the Middle East and South East Asia operations whose performance continues to improve. As the company continually increases the percentage of live streaming revenue coming from outside of Chinahe expects the use of China Livestream revenue will continue to decline.
For crypto mining operations, the 12,500 Litecoin/Dogecoin mining rigs operated with a gross profit of $1,869,865 since May 2021. The Company and Shanghai Yitang, the Company’s partner in cryptocurrency mining, have chosen to relocate its mining operations to the State of New York and other parts of United States.
“Our current fiscal year has been transformative and has seen us achieve record sales of $17,596,813 live streaming services and a profit of $1,869,865 of cryptocurrency mining in the nine months ending November 2021. Revenue grew 101% over the nine months ending 2020 with minimal spend on advertising and user generation during this period. By focusing on cryptocurrency mining operations, we expect revenue and profit to continue in an upward trend,” said KL Wong, Founder and President of the Company.
To download Hello Pal, Language Pal, Travel Pal or the exclusive phrasebooks, please visit the IOS or Android store. For additional information regarding the company or the content of this press release, please contact the company at (604) 683-0911 or visit the website at hellopal.com. E-mail inquiries can be directed to: [email protected].
About the Hello Pal platform
The Hello Pal platform is an exclusive suite of mobile apps built on a user-friendly messaging interface that focuses on social interaction, language learning, and travel. Hello Pal was designed from the ground up to be easy to use and allows users to speak freely in their own language, regardless of the language of the other person they are talking to. Hello Pal’s overarching mission is to bring the world together through social interaction, language learning and travel. By creating a platform where it’s easy to instantly interact with others around the world and giving them the tools to communicate with each other in joyful and fun ways, we hope to do our part (however small) to foster understanding and tolerance among all. citizens of the world.
The information in this press 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 important factors, many of which are beyond Hello Pal’s control. These risks and uncertainties are described in Hello Pal’s annual and interim financial statements available at www.sedar.com. Although Hello Pal is currently generating revenue, Hello Pal is still in a growth phase and this revenue is not yet profitable. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied by the forward-looking information. Except as required by applicable securities laws, Hello Pal undertakes no obligation to publicly update or revise any forward-looking information.
CSE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN AND ACCEPTS NO RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Hello Pal International
200 – 500 Denman Street
Vancouver, BCV6G 3H1, Canada
SOURCE Hello Pal International Inc.