Hello Pal Announces 12-Month High Crypto Mining Revenue of $1.82 Million

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Amidst the crypto industry’s ongoing turmoil following the recent cyberattack between Iran and Israel, Hello Pal, a widely-used social messaging app along with various business entities, reported an impressive increase in revenue for its crypto mining sector during the previous year.

Based on a recent announcement, the crypto mining branch of Hello Pal has brought in between CAD 170,000 and CAD 317,000 per month over the last year. The largest monthly intake was recorded in March. The company’s total earnings from mining Dogecoin (DOGE) and Litecoin (LTC) amounted to approximately CAD 2.5 million or roughly USD 1.82 million. It is reported that nearly one-third of this revenue came from electricity expenses.

Hello Pal’s Live Streaming Business Sees Positive Return

In addition to the successful cryptocurrency branch, other parts of the company also experienced growth. Hello Pal’s initiative to broaden its live streaming services internationally resulted in a profitable income.

During the past year, our initiatives have generated monthly earnings between 200,000 and 580,000 Canadian dollars.

The company has continued to advance in its product lineup since leaving the Chinese market, as stated in their recent announcement. They have adjusted their leading app specifically for users in the Middle East.

The app is being developed with features tailored for users outside China. New releases are forthcoming, and the business is hopeful for higher live-streaming earnings in the Middle East region.

A Business Setback

Although there have been favorable advancements, Hello Pal’s common shares are presently restricted from trading because they haven’t submitted their audited financial reports for the year that ended in 2023.

An auditor is needed by the company to examine the financial statements before they can continue trading. After hiring an auditor, Hello Pal will provide a rough estimate of when the delayed 2023 Year End Financials will be submitted to the market.

Last year, Hello Pal encountered comparable difficulties. In the month of June 2023, they applied to the securities commissions in British Columbia, Alberta, and Ontario for a management halt order. (A management cease and desist order is a legal action that halts the company’s activities related to securities until further notice.)

The company requested that the regulators prevent its CEO and acting CFO from buying or selling the company’s securities for the year 2022 until they had submitted audited financial reports. This restriction did not affect the public, who were still able to trade these securities.

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2024-04-17 20:21