HLLPF - Hello Pal Announces Record Receipts in August and September
(TheNewswire)
Five consecutive monthly receipts ofover $1,000,000
Vancouver, British Columbia - TheNewswire - October 8, 2020 : Hello Pal International Inc. ("Hello Pal" or the "Company") (CSE:HP ) ( Frankfurt:27H ) ( OTC:HLLPF) (CNSX:HP.CN) , a provider of rapidlygrowing international live-streaming, social messaging and languagelearning mobile apps, is pleased to announce that it achieved recordreceipts in September 2020 as set forth below:
LivestreamingService
Hello Pal's livestreaming service achieved receipts ofapproximately $ 1,175,000 *in August 2020 and record receipts of $1,520,000* in the month ofSeptember. Five consecutive monthly receipts of over $1,000,000* is a significantmilestone (see chart below) .
"We're very pleased to achieve over $1,000,000receipts for the 5 th consecutive month this year. This is verypromising as we continue to rollout new avenues for Hello Pal'sgrowth." said KL Wong, Founder and Chairman of theCompany.
User BasePerformance
As of the date of the news release, Hello Pal'sregistered user base is over 5.2 million users from over 200 countriesand regions. The positive increase in registered users continues tobe driven by our livestream service.
The livestreaming service continues to be active withover 10,000 active daily users interacting with one another.
"We are pleased our company is truly global, andwill continue to rollout new products, features, to reach new markets. The Hello Pal platform is a truly diversified social platform"said Hans Xu, Advisor of the Company
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To download Hello Pal, Language Pal, Travel Pal or theproprietary Phrasebooks please visit the IOS or Android store. Forinformation with respect to the Company or the contents of this newsrelease, please contact the Company at (604) 683-0911 or visit thewebsite 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 mobileapplications built on a user-friendly messaging interface that focuson social interaction, language learning and travel. Hello Pal, hasbeen designed from the ground up to be easy to use and enables users'the freedom to speak in their own language regardless of the otherperson's language they are speaking to. Hello Pal's overriding missionis to bring the world closer together through social interaction,language learning and travel. By creating a platform where it is easyto instantly interact with others around the world and giving them thetools to communicate with each other in a joyful and fun way, we hopeto do our part (however small) in fostering understanding andtolerance between all citizens of the world.
The Hello Pal platform also includes a proprietarydigital wallet allowing users to store and transfer popular digitalassets and tokens, including Bitcoin and Ether, based on blockchaintechnology.
Hello Pal, was the first app released to the public andexperienced rapid growth building a diverse and active global userbase. Travel Pal and Language Pal are the first and second companionapps to launch. Both apps benefit immensely from the existing and everexpanding globally based group of users. Each new app will launch withthis established rapidly growing user base accelerating theiradoption.
Information set forth in this newsrelease contains forward-looking statements. These statements reflectmanagement's current estimates, beliefs, intentions, and expectations;they are not guarantees of future performance. Hello Pal cautions thatall forward-looking statements are inherently uncertain and thatactual performance may be affected by a number of material factors,many of which are beyond Hello Pal's control. Such risks anduncertainties are described in Hello Pal's annual and interimfinancial statements available on www.sedar.com. Although Hello Pal iscurrently generating revenues, Hello Pal remains in the growth stageand such revenues are yet to be profitable. Accordingly, actual, andfuture events, conditions and results may differ materially from theestimates, beliefs, intentions, and expectations expressed or impliedin the forward-looking information. Except as required underapplicable securities legislation, Hello Pal undertakes no obligationto publicly update or revise forward-looking information.
Readers are cautioned that"receipts" and "cash-flow positive" are a measurenot recognized under IFRS. Total receipts includes the amount of cashreceived by the Company and its agents from the use of the Hello Palapp. Also, "cash-flow positive" means that the monthly cashflow generated by Hello Pal's Asian subsidiary is sufficient to meetall ongoing obligations of Hello Pal's Asian subsidiary. Under IFRS,total receipts may be higher than revenue as a portion of the revenueis received by agents of Hello Pal. However, the Company's managementbelieves that "receipts" and "cash-flow positive"provides investors with insight into management's decision-makingprocess because management uses this measure to run the business andmake financial, strategic and operating decisions. Further,"receipts" and "cash-flow positive" also providesuseful insight into the operating performance of the Hello Pal app."Receipts" and "cash-flow positive" does not havestandardized meanings prescribed by IFRS and therefore may not becomparable to similar measures presented by other issuers. Readers arecautioned that "receipts" and are not an alternative tomeasures determined in accordance with IFRS and should not, on theirown, be construed as indicators of performance, cash flow orprofitability.
THE CSE HAS NEITHER APPROVED NORDISAPPROVED THE INFORMATION CONTAINED HEREIN AND DOES NOT ACCEPTRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
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