Affluence Corporation (OTCID: AFFU) on Wednesday 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 letter, released via NewMediaWire, emphasizes the company's transition from restructuring to execution, with a focus on smart city, Industrial IoT, and security software solutions.
Brito highlighted the acquisition of Mingothings as the cornerstone of Affluence's strategy, providing an established IoT platform and recurring enterprise customers. More recently, Mingothings completed the acquisition of Marina Eye-Cam Technologies S.L., expanding capabilities in enterprise security, intelligent video analytics, and integrated hardware solutions. Based on current operations, management projects that IoT operations, including Mingothings and Marina Eye-Cam, could generate approximately $10 million in revenue during 2026, with expected EBITDA exceeding $1.5 million, subject to market conditions and execution risks.
Strategic acquisitions remain a key driver of long-term growth. The company is targeting well-managed technology companies in Europe and the United States with proven products and recurring revenue, often below the size pursued by larger acquirers. Affluence aims to build an integrated platform where complementary businesses benefit from shared resources and cross-selling opportunities. However, the company deliberately slowed its acquisition pace to first strengthen its financial foundation, including completing a reverse stock split and advancing balance sheet restructuring.
The letter details ongoing negotiations with holders of convertible debt to restructure obligations into long-term preferred equity securities. If completed as contemplated, the restructuring is intended to eliminate significantly dilutive conversion mechanisms and reduce future dilution. The company views a future national securities exchange listing as a milestone to provide broader access to institutional investors and improved liquidity, marking the culmination of Phase One of its transformation.
Priorities for the remainder of 2026 include 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 future exchange listing. Brito emphasized disciplined growth, prudent capital allocation, and transparent communication as the company enters its next phase focused on execution.
Affluence Corporation is a diversified technology company focused on Smart City and industry software solutions. Through subsidiaries Mingothings SLU and OneMind Technologies SL, it provides AI-enabled IoT, 5G, and data visualization platforms. More information is available at https://affucorp.com and https://www.mingothings.com.
Forward-looking statements in the release involve risks and uncertainties, including the ability to complete acquisitions and restructuring on contemplated terms, financing availability, and general economic conditions. The company assumes no obligation to update these statements.
