Hello Pal Announces $2.54 Million Monthly Revenue for July 2021

VANCOUVER, BC, Aug. 17, 2021 /CNW/ -- 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 achieved $2,542,000 CAD in revenue for the month of July 2021 relating to its livestreaming services and cryptocurrency mining operations.  The Company's total revenue during the current financial year (March 1, 2021 to July 31, 2021) is $12,334,363 as compared to $3,720,783 during the same period in 2020.

Figure 1 – Monthly Revenue Chart

The gross margin for the period for crypto-mining and livestreaming were 61% and 8% respectively.

Compared to the previous month, the Company's crypto-mining operations for July were significantly reduced, especially for the first half of July, due to the relocation of a substantial number of mining rigs to locations that promise better long term stability and more favorable terms.  A drop in the prices of Litecoin and Dogecoin also contributed to a lower revenue from crypto-mining.

The Company's livestreaming operations continue to perform well, with revenues from non-China markets continue to grow with the addition of more livestream agencies joining the platform.

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 [phone] or visit the website at hellopal.com. Email inquiries can be directed to: [email protected].

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

Contact:

Hello Pal International
200 – 500 Denman Street
Vancouver, BC, V6G 3H1, Canada
[phone]

SOURCE Hello Pal International Inc.