Affluence Corporation Reports First Year of Corporate Transformation, Outlines Next Growth Phase

Affluence Corporation (OTCID: AFFU) has issued a shareholder letter from President Oscar Brito reflecting on the company's first year of reorganization under new management and outlining its next phase of strategic growth. The company, which focuses on Smart City, Industrial IoT, and security software solutions, has undergone significant transformation aimed at building a scalable operating platform, improving capital structure, and positioning for long-term growth.

According to the letter, the acquisition of Mingothings established the cornerstone of Affluence's strategy, providing an established IoT platform with recurring enterprise customers and international reach. More recently, Mingothings completed the acquisition of Marina Eye-Cam Technologies S.L., expanding capabilities in enterprise security, intelligent video analytics, and integrated hardware. Management projects that IoT operations, including Mingothings and Marina Eye-Cam, have the potential to generate approximately $10 million in revenue during 2026, with expected EBITDA of well over $1.5 million, subject to execution and market conditions.

Affluence emphasized a disciplined acquisition strategy as a principal driver of long-term growth. The company is targeting well-managed technology companies in the Industrial IoT, Smart Infrastructure, AI, and enterprise software sectors across Europe and the United States. Many of these businesses are below the size typically pursued by larger acquirers but have reached a maturity where joining a larger platform can accelerate growth. Affluence aims to build an integrated technology platform where complementary businesses benefit from shared engineering resources, expanded commercial reach, and cross-selling opportunities.

Management noted that they deliberately slowed the acquisition pace to first strengthen the company's financial foundation, including completing a reverse stock split and advancing balance sheet restructuring. The company is now better positioned to pursue acquisition financing and remains actively engaged with financing sources while advancing due diligence on previously announced opportunities and evaluating additional candidates. A key priority is restructuring outstanding convertible debt into long-term preferred equity securities, which is intended to eliminate deeply discounted conversion mechanisms and reduce future dilution.

Affluence views a future national securities exchange listing as the culmination of the first phase of its transformation, which would provide broader access to institutional investors and improved liquidity. The company outlined clear priorities for the balance of 2026, including executing the balance sheet restructuring, integrating Mingothings and Marina Eye-Cam, advancing strategic acquisitions, increasing recurring revenue and profitability, improving access to growth capital, and positioning for a national exchange listing.

The full shareholder letter is available on the company's website at https://affucorp.com and more information about Mingothings can be found at https://www.mingothings.com.