Lucrative Live-Streaming Market to Enable Hello Pal to Generate Ongoing Revenue
Vancouver, British Columbia--(Newsfile Corp. - January 29, 2019) - (CSE: HP) (FSE: 27H) (OTC Pink: HLLPF) ("Hello Pal" or the "Company"), a provider of rapidly growing international social messaging, language learning and travel mobile apps, is pleased to announce that it has entered into a cooperation agreement (the "Cooperation Agreement") with Vortex Live Inc. ("Vortex") and the principals of Vortex (the "Vortex Team") whereby Vortex will develop and implement live-streaming video functionality into the Hello Pal app ("Live-Streaming Service"). The Hello Pal platform currently houses its three main apps, Hello Pal, Travel Pal and Language Pal, and has over 3.7 million registered users spread across 200 countries and territories.
Entry Into the Live-Streaming Market
The principals of Vortex bring to Hello Pal a combined experience in the live streaming industry of over 30 years, and will provide Hello Pal with not only the core technological know-how and experience in developing live-streaming apps, but also the crucial management and operational skillset that will be required to generate revenue on an ongoing basis.
"This cooperation with Vortex allows Hello Pal to start monetizing the userbase and traffic that we have worked hard to develop over the past years," said KL Wong, CEO of Hello Pal. "We have seen a strong demand for live-streaming services in countries like China, but we believe that the growth lies even more internationally, which Hello Pal is well positioned for."
Terms of Cooperation Agreement
Under the terms of the Cooperation Agreement, Vortex will provide a seasoned management team that will join Hello Pal to develop and operate the Live Streaming Service. Vortex will also fund the development of Live Streaming Service by paying Hello Pal a total of CAD $1.2 million, of which $400,000 has already been paid on signing of the Cooperation Agreement and $800,000 is payable immediately after the launch of the service. If required, Hello Pal may also require Vortex to provide further funding in the form of an interest-free loan of CAD $800,000.
In return, Hello Pal will issue up to 54,000,000 shares to the Vortex Team based on the following milestones:
- 20,000,000 shares upon the launch of the Live Streaming Service on the Hello Pal app by March 31, 2019, and Hello Pal achieving monthly revenue of RMB 1,000,000 (approximately CAD $200,000) by May 31, 2019.
- 9,000,000 shares upon Hello Pal achieving monthly revenue of RMB 5,000,000 (approximately CAD $1,000,000) and accumulated revenue of RMB 23,000,000 (approximately CAD $5,000,000) by December 31, 2019.
- 13,500,000 shares upon Hello Pal achieving monthly revenue of RMB 10,000,000 (approximately CAD $2,000,000), accumulated revenue of RMB 70,000,000 (approximately CAD $14,000,000) over preceding 12 months, net positive cash flow and net profit of RMB 1,000,000 (approximately CAD $200,000) by December 31, 2020.
- 11,500,000 shares upon Hello Pal achieving monthly revenue of RMB 20,000,000 (approximately CAD $4,000,000), accumulated revenue of RMB 180,000,000 (approximately CAD $28,000,000) over preceding 12 months and net profit of RMB 10,000,000 (approximately CAD $2,000,000) by December 31, 2021.
The Cooperation Agreement also anticipates certain management changes may occur, which shall be announced shortly when finalized.
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 (604) 683-0911 or visit the website at . Email inquiries can be directed to: .
To view a demo of the Hello Pal app please follow this link:
To view a demo of the Travel Pal app please follow this link:
About the Hello Pal Platform
The Hello Pal Platform is a proprietary suite of mobile applications built on a user-friendly blockchain based 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.
The Hello Pal platform also includes a proprietary digital wallet allowing users to store and transfer popular digital assets and tokens, including Bitcoin and Ether, based on blockchain technology.
Hello Pal, was the first app released to the public and experienced rapid growth building a diverse and active global user base. Travel Pal and Language Pal are the first and second companion apps to launch. Both apps benefit immensely from the existing and ever expanding globally based group of users. Each new app will launch with this established rapidly growing user base accelerating their adoption.
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 Listing Statement dated May 10, 2016 available on 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
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