Hello Pal International Inc. (Hello Pal), a provider of international live-streaming, language learning, and social-crypto platform, has announced its record annual revenues for the 2022 year-end. The company reported total revenue of $38,395,840, which is an 80% increase from the previous year.
The significant revenue growth can be attributed to Hello Pal’s extensive use across Asia and the Middle East. The company’s live-streaming services generated $36,471,718 or 95% of the total revenue. Hello Pal’s ecosystem, which includes features like Hello Pal moments, user matching, and 1 on 1 video chats, has contributed to a continual stream of users.
In addition to live-streaming, Hello Pal’s crypto mining operations generated revenues of $1,924,122 in 2022. The company has transitioned all cryptocurrency mining operations to Tier 1 jurisdictions, such as the United States and Australia. Currently, the mining rigs are operating at an average of 75% capacity and mining cryptocurrencies like Dogecoin and Litecoin.
Hello Pal also announced a restatement of its financial information for the 2021 year-end. The restated financial information reflects adjustments in historical financial information related to the company’s live-streaming business. These adjustments resulted in an increase in revenue, gross profit, and net loss for the year.
Hello Pal’s CEO, KL Wong, expressed gratitude to shareholders and stakeholders for their patience in finalizing and filing the audited financial statements. The company is targeting to file the outstanding management-prepared interim financial statements as soon as possible.
Hello Pal’s platform aims to bring the world closer together through social interaction, language learning, and travel. The company’s suite of mobile applications provides a user-friendly messaging interface that allows users to communicate in their own language, regardless of the other person’s language. Hello Pal is committed to fostering understanding and tolerance between citizens of the world.