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Hello Pal Announces Record Quarterly Revenue
For the livestreaming operations, the Company experienced a 10,000% increase in revenues from non- China territories compared to the first half of 2020 – in particular the Middle East and Southeast Asia operations which continue to improve in performance. As the Company continually increases the percentage of livestreaming revenues from outside of China , the Company revenues in China increased 90% over the same period, and it expects that the reliance on China livestreaming revenues will continue to decrease.
For the crypto-mining operations, the acquisition of 12,500 Litecoin/Dogecoin mining rigs in May 2021 operated with a gross profit of $1,449,335 for the first half of the financial year. Shanghai Yitang, the Company's partner in cryptocurrency mining, continues to help manage the Company's mining operations to ensure the decentralized locations of the mining rigs across various green renewable energy mining sites.
"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.
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.
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