Hello Pal Announces 12-Month High Crypto Mining Revenues and Provides Corporate Update
- Hello Pal International Inc. achieved a 12-month high in crypto mining revenues, with monthly revenue ranging from CAD 170,000 to CAD 317,000.
- The company's overseas livestreaming operations have been successful, generating monthly revenues of CAD 200,000 to CAD 580,000 over the past year.
- Hello Pal's common shares are currently under a cease trade order due to the failure to file audited financial statements for the fiscal year ended 2023.
- The company is actively seeking to engage an auditor to audit the 2023 financial statements and will update the market on the anticipated timing for filing the overdue financials.
- Hello Pal's common shares are subject to a cease trade order due to the failure to file audited financial statements for the fiscal year ended 2023.
- The fluctuating prices of DOGE and LTC impact Hello Pal's crypto mining revenues, with electricity costs averaging around 30% of the revenue.
Vancouver, British Columbia--(Newsfile Corp. - April 17, 2024) - Hello Pal International Inc. (CSE: HP) (FSE: 27H) (OTC: HLLPF) ("Hello Pal" or the "Company"), a provider of international live-streaming and social-crypto platform, is pleased to provide an update on its crypto mining and livestreaming operations that continue to earn strong monthly revenue for Hello Pal.
Hello Pal's crypto mining revenue comprises Dogecoin (DOGE) and Litecoin (LTC) mined by the 100 Bitmain L7 miners directly owned by the Company and 300 more L7 miners owned through the Company's majority subsidiary CPal Technology Limited. Mainly reflecting the fluctuating prices of DOGE and LTC, the monthly revenue have ranged from CAD 170,000 to CAD 317,000 (which was the 12-month high in March 2024) over the previous 12 months, totaling approximately CAD 2,500,000. Electricity costs average around
Additionally, the Company's overseas livestreaming operations have been continuing, bringing in monthly revenues of between CAD 200,000 to CAD 580,000 over the past 12 months. As the Company no longer operates in China, new versions of the flagship Hello Pal app have been created which are more tailored towards the Middle Eastern market. This new version will be released soon and the Company anticipates improved livestreaming revenue performance in the Middle Eastern market over time.
Hello Pal's common shares are currently subject to a cease trade order due to its failure to file audited financial statements for the fiscal year ended 2023 (the "2023 YE Financials"). Hello Pal is actively seeking to engage an auditor to audit the 2023 YE Financials. Once an auditor has been engaged, Hello Pal will advise the market as to the anticipated timing to file the overdue 2023 YE Financials.
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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, KL Wong, CEO, at (604) 683-0911 or visit the website at hellopal.com. Email inquiries can be directed to: investors@hellopal.com.
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.sedarplus.ca. 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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205771
FAQ
What is the range of Hello Pal's monthly crypto mining revenues over the past 12 months?
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What are the monthly revenue ranges for Hello Pal's overseas livestreaming operations?
Why are Hello Pal's common shares currently under a cease trade order?
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