Affluence Corporation (OTCID: AFFU) has issued a shareholder letter from President Oscar Brito, reflecting on the company's first year under new management and outlining its next phase of strategic growth. The letter details a significant corporate transformation centered on building a scalable technology platform, improving the capital structure, and executing a disciplined acquisition strategy.
The company's long-term vision focuses on Smart Cities, Industrial IoT, AI-enabled infrastructure, and enterprise software. The acquisition of Mingothings established the cornerstone of this strategy, providing an established IoT platform with 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, 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.
Strategic acquisitions remain a principal driver of long-term growth. The company has demonstrated commitment through the acquisitions of Mingothings and Marina Eye-Cam. Management believes the Industrial IoT, Smart Infrastructure, AI, and enterprise software sectors present an attractive landscape for disciplined consolidation, particularly among well-managed technology companies that are below the size typically pursued by larger strategic acquirers but have reached maturity where joining a larger platform can accelerate growth.
Affluence made a deliberate decision to strengthen its financial foundation before pursuing additional acquisition financing. This included completing a reverse stock split and substantially advancing the restructuring of the balance sheet. 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.
Improving the balance sheet has been a high priority. Affluence entered negotiations with holders of outstanding convertible debt to restructure a substantial portion into long-term preferred equity securities. If completed as contemplated, the restructuring is intended to eliminate significant convertible debt, replace legacy instruments with long-term preferred securities, and eliminate deeply discounted conversion mechanisms and other dilutive features.
The company views a future national securities exchange listing as the culmination of the first phase of transformation, which would provide access to institutional investors, improved market visibility, and potentially lower-cost growth capital. This would support Phase Two: continuing to build an integrated portfolio of complementary Industrial IoT, Smart Infrastructure, AI, and enterprise software businesses across Europe and North America.
Priorities for the balance of 2026 include executing the balance sheet restructuring, completing integration and commercial expansion of Mingothings and Marina Eye-Cam, advancing strategic acquisition opportunities, increasing recurring revenue and operating profitability, improving access to growth capital, and positioning the company for a future national exchange listing.
For more information, visit the company's website at https://affucorp.com or Mingothings at https://www.mingothings.com.
