Monthly revenues have grown to over $1,500,000 (CAD) since worldwide rollout. Revenue growth has been organic without advertising or marketing.
*Non-IFRS Financial Measure
Readers are cautioned that “receipts” is a measure not recognized under IFRS. Total receipts includes the amount of cash received by the Company and its agents from the use of the Hello Pal app. Under IFRS, total receipts may be higher than revenue as a portion of the revenue is received by agents of Hello Pal. However, the Company’s management believes that “receipts” provides investors with insight into management’s decision-making process because management uses this measure to run the business and make financial, strategic and operating decisions. Further, “receipts” also provides useful insight into the operating performance of the Hello Pal app. “Receipts” does not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other issuers. Readers are cautioned that “receipts” are not an alternative to measures determined in accordance with IFRS and should not, on their own, be construed as indicators of performance, cash flow or profitability.