Hello Pal Announces $2,583,960 Million Monthly Revenue for May 2021

Rhea-AI Summary

Hello Pal International Inc. reported a revenue of $2.58 million CAD for May 2021, marking the sixth consecutive month exceeding $2 million CAD. The company credits its success to the acquisition of a 51% interest in Crypto Pal Technology Limited, which enhances its livestreaming and cryptocurrency mining services. Despite the growth, the gross margin stands at 10% and future profitability remains uncertain, as the company continues its growth phase. Upcoming reports will separate revenue streams from livestreaming and crypto mining operations.

Positive

• Achieved revenue of $2.58 million CAD for May 2021.
• Sixth consecutive month exceeding $2 million CAD in revenue.
• Acquisition of 51% interest in Crypto Pal expected to boost future revenues.

Negative

• Gross margin stands at only 10%.
• Company remains in a growth stage, with revenues not yet profitable.

VANCOUVER, BC, June 3, 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 $2,583,960 CAD in revenue for the month of May 2021 relating to its livestreaming services and limited mining of Dogecoin and Litecoin since its acquisition of Crypto Pal Technology Limited in late May 2021.

 

 

The monthly revenue of $2.583 million CAD is the sixth successive month above $2 million that the Company has achieved. Gross margin for the period was 10%.

With the acquisition of a 51% interest in Crypto Pal, Hello Pal anticipates a significant increase in revenue for the balance of the year. On a going forward basis, Hello Pal will announce revenue separately for livestreaming services and crypto currency mining operations.

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.

Infographic - https://mma.prnewswire.com/media/1524756/Hello_Pal_Infographic.jpg
Logo - https://mma.prnewswire.com/media/1387440/Hello_Pal_Logo.jpg

 

 

Hello Pal International
200 – 500 Denman Street
Vancouver, BC, V6G 3H1, Canada
P: +1-604-683-0911

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SOURCE Hello Pal International Inc.

FAQ

What was Hello Pal's revenue for May 2021?

Hello Pal reported a revenue of $2.58 million CAD for May 2021.

How long has Hello Pal exceeded $2 million in monthly revenue?

Hello Pal has exceeded $2 million in monthly revenue for six consecutive months.

What is the significance of Hello Pal's acquisition of Crypto Pal?

The acquisition of Crypto Pal is expected to significantly boost Hello Pal's revenues.

What is Hello Pal's gross margin for May 2021?

Hello Pal's gross margin for May 2021 was 10%.

Is Hello Pal currently profitable?

No, Hello Pal remains in the growth stage and is not yet profitable.