13:40:13 EDT Thu 02 May 2024
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Hello Pal's 12-month crypto revenues at $2.5M

2024-04-17 14:23 ET - News Release

Mr. K.L. Wong reports

HELLO PAL ANNOUNCES 12-MONTH HIGH CRYPTO MINING REVENUES AND PROVIDES CORPORATE UPDATE

Hello Pal International Inc. has provided an update on its crypto mining and livestreaming operations that continue to earn strong monthly revenue for Hello Pal.

Hello Pal's crypto mining revenue comprises Dogecoin (DOGE) and Litecoin (LTC) mined by the 100 Bitmain L7 miners directly owned by the Company and 300 more L7 miners owned through the Company's majority subsidiary CPal Technology Limited. Mainly reflecting the fluctuating prices of DOGE and LTC, the monthly revenue have ranged from CAD 170,000 to CAD 317,000 (which was the 12-month high in March 2024) over the previous 12 months, totaling approximately CAD 2,500,000. Electricity costs average around 30% of the revenue.

Additionally, the Company's overseas livestreaming operations have been continuing, bringing in monthly revenues of between CAD 200,000 to CAD 580,000 over the past 12 months. As the Company no longer operates in China, new versions of the flagship Hello Pal app have been created which are more tailored towards the Middle Eastern market. This new version will be released soon and the Company anticipates improved livestreaming revenue performance in the Middle Eastern market over time.

Hello Pal's common shares are currently subject to a cease trade order due to its failure to file audited financial statements for the fiscal year ended 2023 (the "2023 YE Financials"). Hello Pal is actively seeking to engage an auditor to audit the 2023 YE Financials. Once an auditor has been engaged, Hello Pal will advise the market as to the anticipated timing to file the overdue 2023 YE Financials.

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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, KL Wong, CEO, 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.

We seek Safe Harbor.

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