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400 New L7 Miners to Commence Mining in North America Shortly
Vancouver, BC – November 18, 2021 – Hello Pal International Inc. (CSE: HP) (OTCQB: HLLPF) (Frankfurt:27H) (“Hello Pal” or the “Company”), a provider of rapidly growing international live-streaming, language learning and social-crypto platform, is pleased to announce that it has purchased a further 130 Antminer L7 mining rigs for the mining of Litecoin and Dogecoin, bringing the total number of L7s to 400.
This new purchase primarily relies on the cryptocurrency profits generated by the Company’s subsidiary (CPal Technology Limited) from the past several months of mining in addition to free cash reserves in the Company. This purchase comes after the announcement of the complete upgrade of its miners where 270 L7 miners were purchased using the proceeds from the sale of 12,500 Antminer L3+ miners (see November [16] press release).
“The recent price surge of Litecoin and news surrounding SpaceX’s “DOGE-1” mission to the moon have greatly increased the market demand and price for these latest mining rigs, so we are very fortunate indeed to have been able to procure as many units as we have,” said KL Wong, Founder and Chairman of the Company. “We are doubly pleased that this purchase was made financially possible through our past crypto-mining efforts bearing fruit.”
The new machines are expected to be delivered in December 2021, upon which they will be delivered by airfreight directly to the Company’s new mining facilities in New York State and other parts of North America (see November 10 press release).
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To download Hello Pal 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
SOURCE: Hello Pal International Inc.
New Miners to Arrive in New York State Location Via Air Freight
Vancouver, BC – November 16, 2021 – Hello Pal International Inc. (OTCQB: HLLPF) (CSE: HP) (Frankfurt:27H ) (“Hello Pal” or the “Company”), a provider of rapidly growing international live-streaming, language learning and social-crypto platform, is pleased to announce that it has purchased a further 170 L7 miners from the proceeds of the sale of its L3+ model, bringing the total number of L7s to 270 which includes the 100 Antminer L7s announced last month (see October 7 press release). The Company is in the process of acquiring more.
The remaining Antminer L3+ miners, held by the Company’s subsidiary (CPal Technology Limited) have been sold for a total consideration of USDT 3.75 million (approximately CAD 4.7 million), which represents a 100% profit compared to the effective purchase price in June of this year. The sale of the L3+ miners and purchase of L7 miners effectively means that the Company’s Litecoin/Dogecoin mining rigs have been completely upgraded to the latest Litecoin/Dogecoin miners to be released by Bitmain.
Bitmain’s L7 miners are highly sought after and extremely difficult to acquire. Hello Pal’s current understanding is that less than 2500 L7 miners are being produced, with no further production planned by Bitmain in the foreseeable future. The L7 model has a hashrate of 9500 MH/s, which is 19 times more powerful than that of the previous L3+ model. They consume substantially less power and have a stability rate of 98 percent in comparison to the previous stability rate of 70% improving overall profit margins considerably.
The new machines are expected to be delivered in December 2021, upon which they will be delivered by airfreight directly to New York State, where the Company’s new mining facilities are located and announced earlier this month (see November 10 press release).
“We are fortunate to have this opportunity to upgrade all our mining rigs to the latest and greatest Antminer model,” said KL Wong, Founder and Chairman of the Company. “We remain very bullish regarding the future of cryptocurrency and Litecoin and Dogecoin in particular, and look forward to continuing with our plans to integrate cryptocurrency into our product offerings.”
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To download Hello Pal 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
Source: Hello Pal International Inc.
Relocation to Provide Improved Efficiency and Long Term Stability
Vancouver, BC – November 10, 2021 – Hello Pal International Inc. (OTCQB:HLLPF) (CSE:HP) (Frankfurt:27H) (“Hello Pal” or the “Company”), a provider of rapidly growing international live-streaming, language learning and social-crypto platform, is pleased to announce it has proactively secured locations in North America for the new Bitmain Antminer L7 Machines to be housed.
Through its partner Shanghai Yitang Data, the Company carried out a thorough review of optimal global mining locations. As a result of this diligence, the Company secured mining facilities in North America for the location of its mining rigs, with the majority of the rigs to be located in New York State. All locations are hydro-powered, in line with the Company’s policy of only relying on clean renewable energy. All new mining rigs will be shipped directly to these North American facilities upon taking delivery from Bitmain, which is expected to be in November and/or December this year.
“We expect that the relocation of our mining operations to North America will set us up for long term stability in our crypto-mining operations. In turn, this will provide us a solid base to execute our plans of integrating crypto into our social networking core business,” said KL Wong, Founder and Chairman of the Company.
The Company is also continuing to sell its existing Antminer L3+ mining rigs in China and using the proceeds to purchase brand new Antminer L7 models, which will be housed in North America.
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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 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
SOURCE: Hello Pal International Inc
Vancouver, BC – November 4, 2021 – Hello Pal International Inc. (“Hello Pal” or the “Company”) (CSE:HP Frankfurt:27H) (OTCQB: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 $13,206,275 from livestreaming services and a profit of $1,449,335 from cryptocurrency mining during the six months ended August 31, 2021. Revenue increased 208% compared to the six months ended 2020 with minimal spending on advertising and user generation during that period. With our acquisition of mining rigs, we anticipate that revenue and profit will continue in an upward trend for the balance of the fiscal year.”
Financial Highlights:
- Total revenue of $14,655,610 in 2021 H1 (comprised of $13,206275 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 10,000% 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.
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
SOURCE: Hello Pal International Inc.
4500 existing miners sold at 100% profit to purchase new miners
Vancouver, BC – October 7, 2021 – 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 upgraded approximately one third of its Litecoin/Dogecoin mining rigs to the latest miners released by Bitmain.
The Company, via its subsidiary CPal Technology Limited (formerly “Crypto Pal Technology Limited”), sold 4,500 of its existing Antminer L3+ mining rigs for a consideration of USDT 2.1 million (approximately CAD 2.67 million). Compared with the effective purchase price of those mining rigs when 12,500 mining rigs were purchased for CAD 3.5 million earlier in June this year, this represents a profit of over 100% for this sale.
Using those proceeds, the Company has purchased 100 units of Antminer L7 mining rigs, which are the latest Litecoin/Dogecoin mining rigs to be released by Bitmain. L7 mining rigs have a hashrate of 9500 MH/s, which is 19 times more than that of the existing L3+.
The Company expects to receive these new mining rigs in November this year, and has arrangements to purchase more, as these mining rigs bring numerous advantages. Apart from the increased mining power, it will also require less maintenance, and will be easier to house in mining facilities due to the reduced space it will require compared to the electricity fees received by the mining facilities. These advantages in turn mean that the Company will have a lot more flexibility in terms of where its mining rigs can be housed. As mentioned in Hello Pal’s press release on October 5th, the company continues to expand its business on an international level to diversify risk for its shareholders.
“We are very thankful to our partner Yitang in helping us sell a part of our existing mining rigs at double our cost, and in being able to get hold of the new miners which are in very short supply,” said KL Wong, Founder and Chairman of the Company. “We remain committed to our crypto mining strategy and the implementation of cryptocurrency within our social platform, so this upgrade will help us achieve this goal.”
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To download Hello Pal 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
SOURCE: Hello Pal International Inc.
Vancouver, BC – May 27, 2021 – Hello Pal International Inc. (CSE: HP) (OTCQB: HLLPF) (Frankfurt:27H) (“Hello Pal” or the “Company”), a provider of international live-streaming, social-crypto and language learning mobile apps, is pleased to announce the highly accretive details of its recent acquisition of a fifty-one percent (51%) interest in Crypto Pal Technology Ltd. (“Crypto Pal”) that closed on May 25, 2021 (see news release dated May 25, 2021).
Financial Benefits of Acquisition:
- Purchase Price for Crypto Pal was based on Dogecoin at US $0.055
- Low acquisition cost of $3.5 million, consisting of $1.5 million cash and 1,800,000 units.
- Cost to mine Dogecoin and Litecoin significantly less than Bitcoin.
Strategic Benefits of Acquisition:
- First listed company with primary exposure to Dogecoin.
- Access to cryptocurrency will accelerate growth of user base and livestream revenues.
- Imminent launch of beta version of cryptocurrency-focused app, being part of the suite of Hello Pal apps.
Hello Pal Founder and Chief Executive Officer, KL Wong states, “Our acquisition of Crypto Pal is the next step in bringing the world closer together and promoting social tolerance. Dogecoin, often referred to as “the people’s coin”, is being rapidly accepted and adopted internationally. We anticipate gains to our userbase and livestreaming services from the integration of Dogecoin.”
KL Wong further adds, “By acquiring Crypto Pal at a minimal price, we are able to focus our strong cash position to implement our vision for Hello Pal’s suite of complementary apps as well as carry out strategic acquisitions.”
The recently acquired Crypto Pal currently has 12,500 mining rigs that are actively mining Dogecoin and Litecoin. The mining rigs are hosted across multiple locations to ensure diversification of risk as well as to take advance of variations in electricity costs in different geological areas according to seasonal weather patterns. Crypto Pal has entered into a long-term guaranteed service agreement with Yitang Data Technology Co. Ltd. (“Yitang”), a seasoned manager and operator of crypto-assets and mining facilities. With Yitang engaged on a long-term basis, Crypto Pal has ensured cost certainty and operational continuity relating to the mining of Dogecoin and Litecoin.
As a result of Hello Pal’s acquisition of Crypto Pal, it is believed that it is currently the sole listed issuer primarily focused on mining Dogecoin. Hello Pal anticipates that Dogecoin will continue to be seen as an alternative to Bitcoin given its lower price, ease for making online payments, and a much lower power requirement in mining it.
Hello Pal is currently updating its platform to integrate the obtaining and using of cryptocurrency within the Hello Pal ecosystem. As Hello Pal’s livestreaming operations cover a diverse range of regions throughout the world, Hello Pal anticipates that the introduction of cryptocurrency will accelerate the use of its livestreaming services outside of China. In particular, this will facilitate growth in less developed countries where extreme exchange rate fluctuations occur and it is difficult for users to pay or receive local currencies.
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To download Hello Pal 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
SOURCE: Hello Pal International Inc.
Non-China revenue rises to 20%
Vancouver, BC – April 9, 2021 – Hello Pal International Inc. (“Hello Pal” or the “Company”) (CSE:HP) (Frankfurt:27H) (OTCQB:HLLPF), a provider of rapidly growing international live-streaming, language learning and social-crypto platform, is pleased to announce that it achieved 12,518,000 CNY ($2,412,000 CAD) in revenue for the month of March 2021, an increase of around 800,000 CNY from the previous month.
Operating under a CAD/CNY exchange rate of 5.19 as of April 7, 2021, the monthly revenue of $2,412,000 CAD is the fourth successive month above $2 million that the Company has achieved. Gross margin for the period was 15%.
Non-China revenue has been progressing steadily, with non-China revenue now accounting for 20% of its total revenue, having increased from 16% the previous month. Additionally, the number of non-China livestreaming minutes is now double that of China, the daily non-China hosts is now triple that of China, and significantly, the number of paying users from non-China countries has also exceeded that of China.
“We are pleased to be able to continue our growth in revenue and as the data suggests, our efforts in the overseas livestreaming markets are slowly bearing fruit,” said KL Wong, Founder and Chairman of the Company.
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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 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
www.hellopal.com
p +1 604-683-0911
SOURCE Hello Pal International Inc.
Private Placement to Raise up to C$5 Million by way of Subscription Receipts
Vancouver, BC – March 8, 2021 –Hello Pal International Inc. (“Hello Pal” or the “Company”) (CSE:HP Frankfurt:27H OTC:HLLPF), a provider of rapidly growing international live-streaming, social messaging and language learning mobile apps, is pleased to announce that it has entered into a letter of intent (the “Agreement”) with Shanghai Yitang Data Technology Co. Ltd. (“Yitang”) to acquire:
(a) an initial 15% interest in a cryptocurrency mining facility (the “Mining Facility”) located in North-West China to be dedicated to mining Dogecoin (DOGE) and Litecoin (LTC), with an option to increase such interest to 35%; and
(b) an initial 51% interest in a number of mining rigs also dedicated to mining Dogecoin and Litecoin (the “Mining Assets”), with an option to increase such interest to 100%. The number of mining rigs has been agreed to be a minimum of 12,500, with potentially up to 2,500 more (at no extra cost to the Company), depending on how many more can be secured by Yitang before completion (together, the “Transaction”).
The Transaction:
The Mining Facility, when completed, will be able to house 90,000 mining rigs and have a capacity of 70MW, which the Company believes will make it one of the largest dedicated Dogecoin/Litecoin mining facility in the world. When fully deployed, the Mining Assets are believed to account for 3-5% of the Dogecoin/Litecoin hashrate in the world, which the Company believes would make it the world’s third largest Dogecoin/Litecoin miner.
The Company has agreed to acquire the initial 15% interest in the Mining Facility for a cash payment of RMB 5,000,000 (equal to approximately C$1,000,000) and the Company will have the option to acquire a further 20% interest in the Mining Facility (for a total interest of 35%) for an additional cash payment to be agreed upon between the parties, each acting reasonably, however, not to exceed RMB 8,000,000.
The Company has also agreed to acquire the initial 51% interest in the Mining Assets for C$1,500,000 in cash and 1,800,000 units of the Company (the “Consideration Units”) valued at C$2,250,000. Each Consideration Unit will have a deemed value of C$1.25 and consist of one common share of the Company (each, a “Common Share”) and one-half of one common share purchase warrant of the Company (each whole common share purchase warrant, a “Consideration Warrant”). Each Consideration Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of C$2.00 for a period of two years from the date of issue.
For a period of two years following the acquisition of the initial 51%, the Company will have the option to acquire a further 49% interest in the Mining Assets (for a total interest of 100%) for an additional payment, as to half in cash and half in common shares in the capital of the Company (the number of common shares to be determined in the context of the market), where the valuation of the Mining Assets is dependent on their net profit over a 12-month period immediately preceding the date on which this option is exercised, multiplied by a formulated multiplier.
“We are excited to expand our crypto strategy to also include Dogecoin and Litecoin, which we believe will play an increasingly important role in the cryptocurrency world going forward,” said KL Wong, Founder and Chairman of the Company. “The Hello Pal community, especially what we envision for it to become, is a natural fit with the Dogecoin/Litecoin community, and this deal allows us to become a key player in it,” he added.
The Company also announces that it has entered into an agreement with Canaccord Genuity Corporation (“Canaccord”) in connection with a “best efforts” private placement of up to 4,000,000 subscription receipts of the Company (the “Subscription Receipts”) at a price of C$1.25 per Subscription Receipt (the “Issue Price”) for aggregate gross proceeds of up to C$5,000,000 (the “Offering”). Each Subscription Receipt will be automatically exercised into one unit of the Company (each, a “Unit”) upon completion of the Transaction. Each Unit will consist of one common share of the Company (each, a “Share”) and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”), with each Warrant entitling the holder thereof to purchase one Share (each, a “Warrant Share”) at a price of C$2.00 for a period of two years from the date of issue. The Company has granted to Canaccord an option to sell up to an additional 4,000,000 Subscription Receipts at the Issue Price for additional gross proceeds of up to C$5,000,000, exercisable in whole or in part at any time up to 48 hours prior to the closing of the Offering. The proceeds from the sale of the Subscription Receipts will be held in escrow pending completion of the Transaction and, following completion of the Transaction, are expected to be used towards the purchases of the Mining Facility and the Mining Assets described above, further potential asset acquisitions pursuant to the Company’s cryptocurrency strategy, expansion of its livestreaming operations, and for working capital purposes.
Completion of the Transaction will be subject to certain conditions, including but not limited to: (a) the receipt of all necessary approvals of the boards of directors of the Company and Yitang; (b) the receipt of all required consents and approvals, including without limitation, approval of the Transaction by the CSE; and (c) the completion of satisfactory mutual due diligence. The agreement may be terminated by either party if (a) they mutually agree; or (b) the definitive agreements with respect to the Transaction has not been executed on or before May 31, 2021 or such later date as may be agreed to by the parties.
About Yitang
Yitang, a leading provider of digital wallet services with over USD70 million in crypto-assets under management, is also helping the Company to revamp and reintroduce its digital wallet as well as its own digital token called “Palto”. Upon completion of the revamp, the Company’s current virtual tokens used on its livestreaming platform is expected to be fully enhanced and backed by blockchain technology, with the Palto and popular cryptocurrency such as Bitcoin, Ethereum, Litecoin and Dogecoin accepted throughout the platform. First launched in 2018 (see news release October 9th, 2018), the Palto (PLT) is a utility token that will be used across the entire Hello Pal suite of apps in order to allow for the borderless transfer of value between Hello Pal users across the world.
“We are particularly bullish about the future of Dogecoin, especially in the potential of it becoming “the currency of the people”,” said Hans Xu, advisor to Hello Pal. “On the back of our previously-announced Bitcoin mining initiative, we expect this deal to help us increase the prominence of cryptocurrencies among our users even further.”
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To download Hello Pal 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, including expectations regarding completion of the Transaction and the Financing, including the expected use of proceeds from the Financing, as well as statements regarding the expected capacity of the Mining Facility and the Company’s belief that such capacity will make the Company the largest dedicated Dogecoin/Litecoin mining facility in the world, statements regarding the expected percentage of the world’s hashrate the Mining Assets would represent and the Company’s belief that such percentage would make it the world’s third largest Dogecoin/Litecoin miner, and statements with respect to the expected combined value of Dogecoin and Litecoin mined using the Mining Assets over a 12-month period. 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
Source: Hello Pal International Inc.
Market expansion part of Company’s overall diversification plan
Vancouver, BC – February 24, 2021 – Hello Pal International Inc. (CSE:HP) (OTCQB:HLLPF) (“Hello Pal” or the “Company”), a provider of rapidly growing international live-streaming, social messaging and language learning mobile apps, is pleased to announce the commencement of marketing operations for its livestreaming services in the Middle East market, with a focus on the United Arab Emirates, Saudi Arabia, Egypt and Bahrain.
After having consistently achieved monthly revenues of over CAD 2 million over the past several months, and following the arrival earlier last year of industry veteran Vincent Chai as Senior Vice President of Operations, the Company has started to focus on expanding its revenue sources to markets other than the China livestreaming market.
The Company has already begun to work with several key partners to begin this expansion, including those with an established network of livestreaming hosts in the Middle East countries such as the United Arab Emirates, Saudi Arabia, Egypt and Bahrain. Such partners will help bring in a diverse community of livestreaming hosts and provide livestream content on Hello Pal that caters to the Arabic-speaking world.
In tandem, the Company has also been working with other key partners with an established userbase in the Middle East to ensure quality generation of user traffic to Hello Pal to consume the livestream content. This expansion presents exciting growth prospects for the Company as the Middle Eastern market is a proven market for livestreaming content, yet is relatively still in its infancy.
The Company has already been testing the Middle East market over the past several months, and initial results have been more than encouraging. Notably, largely due to the Middle East efforts, non-China revenue now accounts for 10% of its total revenue, having increased from 6.5% the previous month, and 3% from November 2020.
Having now completed the preparatory stage of its expansion plan, the Company is preparing to take it to the next level through a strong marketing push with key partners.
“All key indicators such as number of daily livestream hosts and total number of livestreaming minutes have not only been steadily increasing, but we’ve also been seeing an acceleration of this growth in recent weeks,” said Mr. Chai. “With the proven strength of our team, as well as the initial signs so far, we feel confident that we will see a similar growth and success in this market as we have been seeing in the China market.”
“The overseas expansion is firmly in line with our mission to bring the world closer together,” said KL Wong, Founder and Chairman of Hello Pal. “As we expand to new territories, our new initiatives in the cryptocurrency space is also designed to help us achieve our mission more effectively, given the borderless nature of cryptocurrency.”
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To download Hello Pal 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
SOURCE: Hello Pal International Inc.
Vancouver, BC – February 17, 2021 – Hello Pal International Inc. (CSE: HP) (OTCQB: HLLPF) (“Hello Pal” or the “Company”) (Frankfurt:27H), a provider of rapidly growing international live-streaming, social messaging and language learning mobile apps, is pleased to announce that it has expanded its partnership with Shanghai Yitang Data Technology Co. Ltd. (“Yitang”) to launch the Crypto – Mining Initiative. This will give all Hello Pal users the ability to participate in Bitcoin and Ethereum mining in a simple and convenient way.
Yitang currently manages 35,000 mining machines spread across the North, North West and South East parts of China and has pre-existing contractual arrangements with mining machine vendors to acquire many more in the future. Through Yitang, the Company will be able to allow users (individually or as a group) to purchase Bitcoin and Ethereum mining machines (or option to purchase fractional parts of the miner), and have the machines hosted and operated by Yitang. Machines will be personally identifiable to the purchaser(s), and differs from typical ‘cloud mining’ services available. After the purchase, users can expect the mined cryptocurrency to be credited to their digital wallet each day. Further details will be available after the service is launched.
As a first step in this initiative, the Company has purchased several Bitcoin and Ethereum mining machines and plans to purchase more. The Bitcoin mining machines (Whatsminer M31S) each have a hash rate of 74T hash/s operating at an efficiency of 44w/T, while the Ethereum machines have MSI 5700 graphics cards at their core with an estimated hash rate of 400M. The mining results from this initiative will be used to showcase and demonstrate to users what can be expected with a purchase. With each crypto machine purchase, all users can now mine BTC and ETH to learn and create value within their own crypto wallets on the platform.
“It has long been our intention for cryptocurrency to play a central part on our platform, especially given the borderless nature of cryptocurrency and our international nature,” said KL Wong, Founder and Chairman of the Company. “The recent activity and interest in cryptocurrency presents us with a unique opportunity to introduce cryptocurrency to our users, as well as to bring cryptocurrency users to our platform,” he added.
Yitang, a leading provider of digital wallet services with over USD70 million in crypto-assets under management. is also helping the Company to revamp and reintroduce its digital wallet as well as its own digital token called “Palto”. Enabling the Company’s current virtual tokens used on its livestreaming platform to be fully enhanced and backed by blockchain technology. First launched in 2018 (see news release October 9th, 2018), the Palto (PLT) is a utility token that will be used across the entire Hello Pal suite of apps in order to allow for the borderless transfer of value between Hello Pal users across the world.
“We believe by starting the crypto-mining initiative this will be true to our mission 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 bringing the world closer together” said Hans Xu Advisor to Hello Pal.
To download Hello Pal 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
SOURCE: Hello Pal International Inc.
Asian subsidiary achieves profitability.
Vancouver, BC – November 18, 2020 – Hello Pal International Inc. (CSE: HP) (OTCQB: HLLPF) (Frankfurt: 27H) (“Hello Pal” or the “Company”), a provider of rapidly growing international live-streaming, social messaging and language learning mobile apps, is pleased to announce that it achieved over $1,500,000 in revenue for the month of October.
Livestreaming Service
Hello Pal’s livestreaming service revenue for the month of October was $1,500,000 with its Asian subsidiary being cashflow positive (see chart below).
“As our business has continued to grow and evolve over recent months, we are pleased to report monthly revenue for the first time. We will continue to refine our user experience, roll out new products and features, and operate in increasingly efficient manner as Hello Pal continues its growth plans.” said KL Wong, Founder and Chairman of the Company.
Second Quarter Financial Results
The Company is also pleased to report its financial results for the quarter period ended August 31, 2020. A copy of the financial statements and management discussion and analysis has been filed on www.sedar.com
- Revenue of $3,058,879 for quarter ended August 31, 2020 and $4,290,412 for the six months ended August 31, 2020.
- Gross profit of $174,411 for the quarter ended August 31, 2020 and $185,415 for the six months ended August 31, 2020.
User Base Performance
As of the date of the news release, Hello Pal’s registered user base is over 5.2 million users from over 200 countries and regions. The positive increase in registered users continues to be driven by our livestream service.
The livestreaming service continues to be active with over 15,000 active daily users interacting with one another. This is an increase of 5,000 daily users from previously reports from the company.
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
Source: Hello Pal International Inc.
Asian subsidiary cash-flow positive to meet ongoing obligations
Vancouver, BC – July 27, 2020 – Hello Pal International Inc. (CSE: HP) (FSE: 27H) (OTC Pink: HLLPF) (“Hello Pal” or the “Company”), a provider of rapidly growing international live-streaming, social messaging and language learning mobile apps, is pleased to announce that it achieved record receipts in May and June 2020 as set forth below:
Financial Performance
Hello Pal’s livestreaming service achieved record receipts of approximately $1,200,000* in May 2020 and $1,064,250* in June 2020 for a two-month total of $2,264,250*.
Monthly receipts of over $1,000,000* is a significant milestone as it results in Hello Pal’s Asian subsidiaries to be profitable.
“We’re very pleased to have achieved yet another significant milestone in our Company’s growth,” said KL Wong, Founder and Chairman of the Company. “Being able to sustain ourselves without external funding has been crucial for us especially during the current economic downturn, and it also shows our resilience during abnormal times like these.”
User Base Performance
As of the date of the news release, Hello Pal’s registered user base is over 5 million users from over 200 countries and regions. The positive increase in registered users continues to be driven by our livestream service.
The livestreaming service continues to be active with over 10,000 daily active users, but even more notably, the daily number of users making top-up payments to the Company has more than doubled from the beginning of the year, from around 150 in January to over 300 by the end of June.
“We are also seeing a significant improvement in user engagement with our services, and we expect this to continue to improve as we roll-out new features and address new markets going forward,” said Adega Zhou, President of the Company.
Marketing Agreement
The Company is also pleased to announce that it has entered into a marketing agreement with Think Ink Marketing to drive users to the Hello Pal app and for investor awareness of Hello Pal. Under the terms of the agre
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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 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.
The Hello Pal platform also includes a proprietary digital wallet allowing users to store and transfer popular digital assets and tokens, including Bitcoin and Ether, based on blockchain technology.
Hello Pal, was the first app released to the public and experienced rapid growth building a diverse and active global user base. Travel Pal and Language Pal are the first and second companion apps to launch. Both apps benefit immensely from the existing and ever expanding globally based group of users. Each new app will launch with this established rapidly growing user base accelerating their adoption.
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.
*Non-IFRS Financial Measure
Readers are cautioned that “receipts” and “cash-flow positive” are a measure not recognized under IFRS. Total receipts includes the amount of cash received by the Company and its agents from the use of the Hello Pal app. Also, “cash-flow positive” means that the monthly cash flow generated by Hello Pal’s Asian subsidiary is sufficient to meet all ongoing obligations of Hello Pal’s Asian subsidiary. Under IFRS, total receipts may be higher than revenue as a portion of the revenue is received by agents of Hello Pal. However, the Company’s management believes that “receipts” and “cash-flow positive” provides investors with insight into management’s decision-making process because management uses this measure to run the business and make financial, strategic and operating decisions. Further, “receipts” and “cash-flow positive” also provides useful insight into the operating performance of the Hello Pal app. “Receipts” and “cash-flow positive” does not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Readers are cautioned that “receipts” and are not an alternative to measures determined in accordance with IFRS and should not, on their own, be construed as indicators of performance, cash flow or profitability.
THE CSE HAS NEITHER APPROVED NOR DISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
Source: Hello Pal International Inc.
Vancouver, BC – July 20, 2020 – Hello Pal International Inc. (CSE: HP) (FSE: 27H) (OTC Pink: HLLPF) (“Hello Pal” or the “Company”), a provider of rapidly growing international live streaming, social messaging and language learning mobile apps, is pleased to announce it has closed the second and final tranche of its previously announced private placement and debt settlement by issuing a total of 6,666,666 common shares at a price of $0.06 per share for total proceeds of $400,000 (the “Financing”). Together with the first tranche of the Financing (see news release dated June 25, 2020), the Company issued 41,666,667 Shares at $0.06 per share for total gross proceeds of $2,500,000.
All shares issued in connection with the final tranche of the Financing will be subject to restrictions on resale until November 17, 2020.
Proceeds of the offering have been used to free up the Company’s balance sheet and allow the Company to focus its capital on the growth of the livestream business in Hello Pal.
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 management discussion and analysis available on www.thecse.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
Source: Hello Pal International Inc.
About Hello Pal
The Hello Pal Platform is a proprietary suite of mobile applications built on a user-friendly messaging interface that focuses on social interaction, language learning, and travel. Hello Pal, has been designed from the ground up to be easy to use and enables users’ 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.
The Hello Pal platform also includes a proprietary digital wallet allowing users to store and transfer popular digital assets and tokens, including Bitcoin and Ether, based on blockchain technology.
Hello Pal, was the first app released to the public and experienced rapid growth building a diverse and active global user base. Travel Pal and Language Pal are the first and second companion apps to launch. Both apps benefit immensely from the existing and ever-expanding globally based group of users. Each new app will launch with this established rapidly growing user base accelerating their adoption.
Livestreaming Service
Hello Pal, in partnership with Vortex, has monetized its userbase without adopting in-app advertising. As a result, the experience of a Hello Pal user is not ruined by unwanted advertising.
What is Livestreaming?
Livestreaming allows Hello Pal users to broadcast themselves to other users in real time, receive virtual gifts, and redeem the gifts for cash.
The Tech Movement
Hello Pal is moving forward with new technologies, such as livestream, to enhance the 5G revolution experience. Our live streaming service is comparable, in user experience and quality, to the large livestreaming companies: Twitch, KK, TicTok and Huya.
Robust Growth
Livestreaming has added growth momentum to Hello Pal’s userbase which now stands at 4.4 million registered users from over 200 countries and regions.
Strong Daily Usage
Over 10,000 livestreamers have been online daily from Oct to present and steadily increasing.
Monetized User Base
Revenues have grown to over $100,000 (CAD) per month after four months of worldwide rollout. Revenue growth has been organic without advertising or marketing.
5G Revolution
Hello Pal is ready for the 5G possibility, which can experience a spike in 2020.
What makes Hello Pal unique?
The original concept for Hello Pal is to unite the world through the app with no language boundaries. By using the built-in translation tools, users can communicate freely regardless of language or country. The main features of Hello Pal is Live, Chat and Moments.
One of the unique highlights of Chat is its powerful phrasebook. It allows users to communicate with each other with ready-made phrases in multiple languages. So wherever or whomever the user chats with in the world, they can surely start a conversation with ease.
Like WeChat or Instagram, Moments enables users to share text, audio, pictures or short videos. What makes Hello Pal is its translation feature. If a user posts a moment, others can simply tap on the translate button and the post will be translated on the go.
Recently, Hello Pal has added a new livestreaming feature called Live. It allows users to broadcast themselves to others in real-time, receive virtual gifts and turn them into cash. By adding Live, Hello Pal users can now have a complete social-media experience through the app. With 4.4 million users to date, Hello Pal has proven itself to be quite successful and popular among social media apps.
Source: http://www.hellopal.com
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This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.