Hello Pal International Inc. reported $2,494,456 CAD in revenue for April 2021, marking an increase of over ¥1,000,000 CNY from March. This revenue is the fifth consecutive month surpassing $2 million CAD, with a gross margin of 14%. Despite challenges in traffic from the Middle East due to Ramadan, the company continues to grow in its live-streaming and social-crypto sectors. Operating under a CAD/CNY exchange rate of 5.27, Hello Pal emphasizes its mission to foster global communication through language learning and social interaction.
Hello Pal International has successfully closed a brokered private placement of 5,800,000 subscription receipts at C$1.25 each, raising gross proceeds of C$7,250,000. The funds will support the acquisition of a 51% interest in Crypto Pal and expand its live-streaming services. CEO KL Wong highlighted strong investor support, reflecting confidence in the company's growth strategy. The funds are placed in escrow pending the completion of regulatory conditions, with a potential release by May 31, 2021. If conditions are not met, proceeds will be returned to investors.
Hello Pal International Inc. has signed a purchase agreement to acquire a 51% interest in 12,500 mining rigs for Dogecoin and Litecoin for C$1.5 million in cash and 1.8 million units valued at C$2.25 million. The mining assets will provide a hash rate of 6.25 TH/s. A Guaranteed Services Agreement with Yitang will ensure hosting across multiple locations to mitigate risks. The Company has the option to acquire an additional 49% stake within two years. Completion is expected by the end of April 2021, pending due diligence and approvals.
Hello Pal International Inc. reported a revenue of $2,309,889 CAD for February 2021, marking its third consecutive month surpassing $2,000,000. This month's revenue is the second highest achieved and exceeded expectations despite the traditionally low Lunar New Year revenue period. The company noted a 15% gross margin and an increase in non-China revenue, which now constitutes 16% of total revenue, up from 10% in the previous month. Additionally, daily livestreamers from outside China now outnumber those within.
Hello Pal International Inc. (HLLPF) reported a surge in website traffic exceeding 1000% after announcing its investment into a dedicated Dogecoin and Litecoin mining facility, believed to be the largest in the world. The company acquired a 15% interest in the mining facility and an initial 51% stake in mining rigs, which could increase to 100%. Despite a temporary website outage due to server overload, the company's apps remained unaffected. The acquisitions aim to enhance its presence in the cryptocurrency space and support user growth.