Hello Pal Announces Record $2.820 Million Monthly Revenue for June 2021 and Reports on Crypto Revenue and Profit for the First Time
Hello Pal International Inc, a provider of rapidly growing international live-streaming, language learning and social-crypto platform, is pleased to announce that it achieved $2,820,264 CAD in revenue for the month of June 2021 relating to its livestreaming services and cryptocurrency mining operations.
Highlights of June 2021
- Strong revenues of $2,820,264 CAD supported by flagship livestreaming services.
- The Company Year-To-Date (January 1, 2021 to June 30, 2021) has achieved a total revenue of $15,401,123.97 CAD.
- Profitable cryptocurrency mining operations boosting growth of livestream business.
- Robust diversity of livestreaming in Middle East, Southeast Asia and China.
- Crypto-mining gross margin for the period of 73%, while livestream gross margin for the period of 8%.
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Cryptocurrency mining operations have significantly enhanced the core livestreaming business by:
- Generating significant cash flow to support user base expansion;
- Livestreaming user base will soon have access to cryptocurrency, which is essential for users in Emerging Markets with weak fiat currencies.
- Integrate soon to be launched Crypto Pal app with livestreaming services.
Diversification within Hello Pal
Hello Pal proactively diversified its core business of livestreaming with an expanded user base into non-China markets (the “Emerging Markets”), which is led by the Middle East (United Arab Emirates, Saudi Arabia, Egypt and Bahrain) and the Southeast Asia. Due to this strategic long-term decision, the Emerging Markets account for over double livestreaming time, over triple the daily hosts, triple the daily gift givers and top-up users exceeds those of China. The Company will continue to expand into new regions to facilitate future growth. There are approximately 5,800,000 registered users on the platform
Hello Pal strives to be a truly international platform that offers its suite of services to the citizens of the world. In such, it has been receiving revenue in numerous fiat currencies ranging from CNY , CAD , USD , SAR plus various other middle eastern and south Asian currencies. Hello Pal converts all revenue to CAD for convenience purposes as its reports to the public markets. Up to this point all revenues reported have been fiat currencies which are received trough cash purchases by its user base via in app purchases in their respective app stores.
For the first time the Company is pleased to report the addition of a full month of crypto-mining revenue, which includes LTC , DOGE, BTC , ETH amongst others via our newly acquired crypto mining services.
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“Due to our diversified mining locations and green-energy focus, we’re pleased that our crypto-mining operations have been able to continue despite the recent turbulence caused by China regulations in this area,” said KL Wong, Founder and Chairman of the Company. “We expect that it will continue to make an increasingly significant impact to our company, both in terms of our bottom line, as well as enhancing our core social and livestreaming services.”
Currently, Crypto Pal Technologies Ltd., which is 51% owned by Hello Pal, primarily mines Litecoin and Dogecoin. All Litecoin is sold at spot price into USDT and 50% of Dogecoin is sold at spot price into USDT as generated. All supplementary crypto is sold at spot price as generated into USDT. The Hello Pal team believe that the remaining DOGE in inventory will be beneficial for the roll out of the Crypto Pal app and enhance the entire platform from its core livestreaming business to language and travel. The Company will outline its Crypto Pal progress, intentions, and roll out in a separate news release.
