Hello Pal Announces $2.494 Million Monthly Revenue for April 2021

Rhea-AI Summary

Hello Pal International Inc. reported $2,494,456 CAD in revenue for April 2021, marking an increase of over ¥1,000,000 CNY from March. This revenue is the fifth consecutive month surpassing $2 million CAD, with a gross margin of 14%. Despite challenges in traffic from the Middle East due to Ramadan, the company continues to grow in its live-streaming and social-crypto sectors. Operating under a CAD/CNY exchange rate of 5.27, Hello Pal emphasizes its mission to foster global communication through language learning and social interaction.

Positive

• Revenue of $2,494,456 CAD for April 2021, up from previous month
• Fifth consecutive month with revenue above $2 million CAD
• Gross margin of 14%

Negative

• Traffic affected in the Middle East due to Ramadan
• Current revenues are yet to be profitable

VANCOUVER, BC, May 13, 2021 /PRNewswire/ -- Hello Pal International Inc. ("Hello Pal" or the "Company") (CSE: HP) (Frankfurt: 27H) (OTCQB: HLLPF), a provider of rapidly growing international live-streaming, language learning and social-crypto platform, is pleased to announce that it achieved 13,140,757 CNY ($2,494,456 CAD) in revenue for the month of April 2021, an increase of approximately 1,000,000 CNY from the previous month.

Operating under a CAD/CNY exchange rate of 5.27 as of May 1, 2021, the monthly revenue of $2.494 million CAD is the fifth successive month above $2 million that the Company has achieved. Gross margin for the period was 14%.  

"This turned out to be a good month for us despite our Middle East traffic being affected by the current Ramadan period," said KL Wong, Founder and Chairman of the Company.

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: 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.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
www.hellopal.com
p 604-683-0911

 

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SOURCE Hello Pal International Inc.

FAQ

What was Hello Pal's revenue for April 2021?

Hello Pal's revenue for April 2021 was $2,494,456 CAD.

How much did Hello Pal's revenue increase from March 2021?

Hello Pal's revenue increased by approximately ¥1,000,000 CNY from March 2021.

What is the gross margin for Hello Pal for April 2021?

The gross margin for Hello Pal for April 2021 was 14%.

How many months has Hello Pal achieved revenue above $2 million CAD?

Hello Pal has achieved revenue above $2 million CAD for five consecutive months.

How has Ramadan impacted Hello Pal's business?

Ramadan has negatively impacted Hello Pal's traffic in the Middle East.