Hello Pal Announces Record $3 Million Monthly Revenue for August 2021
Hello Pal International Inc. achieved a record revenue of $3,047,000 CAD in August 2021, primarily driven by its livestreaming and cryptocurrency mining operations. The company reported a gross margin of 65% for crypto-mining and 9% for livestreaming. This revenue surge marks a significant milestone as Hello Pal expands its services beyond China to markets in the Middle East and South East Asia. The founder noted this achievement reflects the success of their earlier market expansion efforts.
- Achieved record revenue of $3,047,000 CAD for August 2021.
- Gross margin for cryptocurrency mining at 65%.
- Expansion of livestreaming services into Middle East and South East Asia markets.
- Livestreaming gross margin is low at 9%.
- Revenues are not yet profitable as the company remains in the growth stage.
VANCOUVER, BC, Sept. 7, 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 a new record of
The gross margin for the period for crypto-mining and livestreaming were
The revenue figure sets a new record for the Company as it continues to expand its livestreaming operations to non-China markets in the Middle East and South East Asia. The Company's crypto-mining operations have improved compared to July as more mining rigs have been put into operation following a relocation process last month.
"This new record revenue is another important milestone for us, and shows that our efforts in the earlier part of this year in relation to our livestream market expansion and crypto-mining initiatives are bearing fruit," 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
200 – 500 Denman Street
Vancouver, BC, V6G 3H1, Canada
604-683-0911
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SOURCE Hello Pal International Inc.
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