Hello Pal Announces Record Quarterly Revenue
Hello Pal International Inc. (OTC:HLLPF) reported significant growth in its interim financial results for the period ended August 31, 2021, with total revenue of $14,655,610, a 208% increase from the prior year. Livestreaming services contributed $13,206,275 in revenue, while cryptocurrency mining yielded $1,449,335. The company's gross profit reached $2,488,454, up from $185,415 in 2020. As of August 31, 2021, Hello Pal had $4,091,553 in cash. The company aims to reduce dependency on Chinese revenues, highlighting a 10,000% revenue increase from non-China territories.
- Total revenue of $14,655,610 for 2021 H1, a 208% increase from 2020 H1.
- Gross profit rose to $2,488,454 in 2021 H1 from $185,415 in 2020 H1.
- 10,000% revenue increase from non-China territories, particularly in the Middle East and Southeast Asia.
- None.
VANCOUVER, BC, Nov. 4, 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 has filed its interim financial statements and management discussion and analysis for the period ended August 31, 2021 are filed on SEDAR at www.sedar.com.
"Our current fiscal year has been transformative and resulted in our achieving record revenue of
Financial Highlights:
- Total revenue of
$14,655,610 in 2021 H1 (comprised of$13,206 275 for livestreaming and net revenue of$1,449,335 for cryptocurrency) compared to$4,290,312 in 2020 H1. - Gross profit of
$2,488,454 in 2021 H1 (comprised of$1,449,335 for crypto currency mining and$1,039,099 for livestreaming) compared to$185,415 in 2020 H1. - As of August 31, 2021, cash of
$4,091,553 and working capital of$5,176,955 - Positive operating cash of
$388,319 before changes in non-cash working capital items.
For the livestreaming operations, the Company experienced a 10,
For the crypto-mining operations, the acquisition of 12,500 Litecoin/Dogecoin mining rigs in May 2021 operated with a gross profit of
"We are very pleased to see the progress we have made as a Company, and believe that the results are evident in the financial figures," said KL Wong, Founder and Chairman of the Company. "We are particularly excited in the continued internationalization of our business, as reflected in our expansion of livestreaming services outside China and the integration of cryptocurrency into our platform through our newly launched crypto-mining operations."
The Company will discontinue announcing monthly revenue and will focus on quarterly results moving forward.
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
p 604-683-0911
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SOURCE Hello Pal International Inc.
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