Hello Pal Provides Update On Its Livestreaming and Cryptomining Business
Hello Pal International (OTC: HLLPF) has announced significant changes to its business operations. The company has suspended its overseas livestreaming operations due to payment collection issues in Middle East markets, particularly Egypt, citing regional conflicts and tightening banking controls that have made the business unprofitable. The Hello Pal app has been temporarily suspended while exploring future relaunch options.
The company's cryptomining operations continue to mine Dogecoin (DOGE) and Litecoin (LTC), benefiting from recent crypto market surges. Hello Pal is actively trading these cryptocurrencies to increase holdings and hedge against price fluctuations. Following these developments, the company has laid off most livestreaming-related staff and plans to focus primarily on cryptomining in the short term due to global economic conditions.
Hello Pal International (OTC: HLLPF) ha annunciato cambiamenti significativi nelle sue operazioni commerciali. L'azienda ha sospeso le sue operazioni di livestreaming all'estero a causa di problemi di incasso dei pagamenti nei mercati mediorientali, in particolare in Egitto, citando conflitti regionali e restrizioni bancarie crescenti che hanno reso l'attività non redditizia. L'app Hello Pal è stata temporaneamente sospesa mentre si esplorano opzioni per un futuro rilancio.
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Hello Pal International (OTC: HLLPF) ha anunciado cambios significativos en sus operaciones comerciales. La empresa ha suspendido sus operaciones de livestreaming en el extranjero debido a problemas de cobro de pagos en los mercados de Oriente Medio, especialmente en Egipto, citando conflictos regionales y un aumento en los controles bancarios que han hecho que el negocio sea no rentable. La aplicación Hello Pal ha sido suspendida temporalmente mientras se exploran opciones para su relanzamiento futuro.
Las operaciones de minería de criptomonedas de la empresa continúan extrayendo Dogecoin (DOGE) y Litecoin (LTC), beneficiándose de los recientes aumentos del mercado de criptomonedas. Hello Pal está comerciando activamente estas criptomonedas para aumentar sus tenencias y protegerse contra las fluctuaciones de precios. Tras estos desarrollos, la empresa ha despedido a la mayoría del personal relacionado con el livestreaming y planea centrarse principalmente en la minería de criptomonedas a corto plazo debido a las condiciones económicas globales.
Hello Pal International (OTC: HLLPF)는 사업 운영의 중대한 변화를 발표했습니다. 이 회사는 중동 시장, 특히 이집트에서의 결제 수집 문제로 인해 해외 생방송 운영을 중단했습니다. 지역적인 갈등과 강화된 은행 규제로 인해 사업이 수익성이 없게 되었다고 이 보고서는 전했습니다. Hello Pal 앱은 향후 재출시 옵션을 탐색하는 동안 일시적으로 중단되었습니다.
회사의 암호화폐 채굴 작업은 Dogecoin (DOGE) 및 Litecoin (LTC)을 계속해서 채굴하고 있으며, 최근 암호화폐 시장의 급등으로 이익을 보고 있습니다. Hello Pal은 이러한 암호화폐를 적극적으로 거래하여 보유를 늘리고 가격 변동에 대비하고 있습니다. 이러한 발전에 따라 회사는 대부분의 생방송 관련 직원을 해고했으며, 세계 경제 상황으로 인해 단기적으로 암호화폐 채굴에 주력할 계획입니다.
Hello Pal International (OTC: HLLPF) a annoncé des changements significatifs dans ses opérations commerciales. L'entreprise a suspendu ses opérations de livestreaming à l'étranger en raison de problèmes de recouvrement de paiements sur les marchés du Moyen-Orient, en particulier en Égypte, évoquant des conflits régionaux et un renforcement des contrôles bancaires qui ont rendu cette activité non rentable. L'application Hello Pal a été temporairement suspendue pendant que de futures options de relancement sont explorées.
Les opérations de cryptomonnaie de l'entreprise continuent de miner le Dogecoin (DOGE) et le Litecoin (LTC), tirant parti des récents hausses du marché des cryptomonnaies. Hello Pal échange activement ces cryptomonnaies afin d'augmenter ses avoirs et de se protéger contre les fluctuations de prix. Suite à ces développements, l'entreprise a licencié la plupart de son personnel lié au livestreaming et prévoit de se concentrer principalement sur le minage de cryptomonnaies à court terme en raison des conditions économiques mondiales.
Hello Pal International (OTC: HLLPF) hat bedeutende Änderungen in seinen Geschäftsbetrieben angekündigt. Das Unternehmen hat seine Livestreaming-Aktivitäten im Ausland eingestellt, da es Probleme bei der Zahlungsabwicklung auf den Märkten im Nahen Osten, insbesondere in Ägypten, gibt. Regionale Konflikte und verschärfte Bankenregelungen haben das Geschäft unrentabel gemacht. Die Hello Pal-App wurde vorübergehend ausgesetzt, während man zukünftige Relaunch-Optionen prüft.
Die Krypto-Mining-Aktivitäten des Unternehmens setzen das Mining von Dogecoin (DOGE) und Litecoin (LTC) fort und profitieren von den jüngsten Kursgewinnen auf dem Kryptomarkt. Hello Pal handelt aktiv mit diesen Kryptowährungen, um die Bestände zu erhöhen und sich gegen Preisschwankungen abzusichern. Infolge dieser Entwicklungen hat das Unternehmen die meisten Mitarbeiter, die mit Livestreaming in Verbindung standen, entlassen und plant, sich aufgrund der globalen wirtschaftlichen Rahmenbedingungen kurzfristig auf das Mining zu konzentrieren.
- Cryptomining operations remain stable and benefit from recent crypto market surge
- Active cryptocurrency trading strategy to increase DOGE and LTC holdings
- Cost reduction through layoff of livestreaming staff
- Suspension of overseas livestreaming operations due to payment collection issues
- Temporary shutdown of Hello Pal app
- Loss of profitable operations in Middle East markets
- Resignation of director Vincent Chai
Vancouver, British Columbia--(Newsfile Corp. - December 11, 2024) - Hello Pal International Inc. (CSE: HP) (FSE: 27H) (OTC: HLLPF) ("Hello Pal" or the "Company"), a provider of international live-streaming, language learning and social-crypto platform, provides an update on the ongoing business operations of Hello Pal.
Live Streaming Operations
The Company has paused its overseas livestreaming operations. Payment collection from its Middle East markets, especially Egypt, has become increasingly problematic owing to tightening banking controls in the region as a result of the current regional conflict, and this has caused the business to be no longer profitable to operate.
The Company has also suspended the operation of its Hello Pal app, and is exploring ways in which the app may be relaunched at a future date.
Cryptomining Operations
The Company continues to mine Dogecoin (DOGE) and Litecoin (LTC). Its cryptomining operations remain stable and has benefited from the recent surge in the crypto market, especially from the recent price increase of DOGE.
Using an allocated portion of its cryptocurrency on hand, the Company has also been trading DOGE and LTC based on the frequent and expected fluctuations of the cryptocurrencies, in order to increase its overall holdings of DOGE and LTC beyond what is mined. Such trading also helps to act as a hedge against steep price decreases.
Going Forward
The Company intends to make cryptomining its primary business focus in the short term due to the current continued economic downturn worldwide. Consequently, the Company has laid off a majority of its livestreaming-related staff in order to reduce expenses. The Company aims to build up cash reserves in the coming period in order to be in the position to take advantage of any new business opportunities that may arise in the future.
The Company also announces that Vincent Chai, who headed the overseas livestreaming operations, has resigned as director of the Company.
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.
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 revenues from cryptomining will fluctuate based on the price of the mined cryptocurrency. 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/233391
FAQ
Why did Hello Pal (HLLPF) suspend its livestreaming operations in 2024?
What cryptocurrencies does Hello Pal (HLLPF) currently mine?
How is Hello Pal (HLLPF) restructuring its business in 2024?
What happened to the Hello Pal app in December 2024?
