Affluence Corporation Outlines First Year of Transformation and Strategic Growth Plans

Affluence Corporation (OTCID: AFFU), a diversified technology company focusing on Smart City, Industrial IoT, and security software solutions, has issued a shareholder letter from President Oscar Brito reflecting on the company’s first year of corporate transformation and outlining its next phase of strategic growth.

The letter, released on July 8, 2026, highlights the company’s efforts to build a scalable operating platform, improve its capital structure, and execute a disciplined growth strategy. Management projects that its IoT operations, including Mingothings and Marina Eye-Cam Technologies, have the potential to generate approximately $10 million in revenue during 2026, with expected EBITDA exceeding $1.5 million, subject to execution and market conditions.

Brito emphasized that the company’s long-term vision is to become a diversified technology company focused on Smart Cities, Industrial IoT, AI-enabled infrastructure, enterprise software, and intelligent infrastructure solutions. The acquisition of Mingothings established the cornerstone of this 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.

Strategic acquisitions remain a principal driver of growth. The company is evaluating well-managed technology companies with proven products and recurring customer relationships, particularly in Europe and the United States. Affluence intends to build an integrated technology platform where complementary businesses benefit from shared resources and cross-selling opportunities.

A key priority has been strengthening the capital structure. The company is negotiating with holders of outstanding convertible debt to restructure a substantial portion into long-term preferred equity securities. The restructuring, if completed, aims to eliminate deeply discounted conversion mechanisms and reduce future dilution. Brito noted that the company’s previous capital structure constrained access to growth capital, but it is now better positioned to pursue acquisition financing.

The reverse stock split and balance sheet restructuring are components of a broader transformation. A future national securities exchange listing is viewed as an intended culmination of the first phase, providing broader access to institutional investors and improved liquidity. Brito stated, ‘A national exchange listing is not the destination. Rather, we believe it represents an important milestone.’

For the balance of 2026, priorities 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 concluded, ‘The past year has been about building the foundation. The next phase is about execution.’

More information is available at the company’s website: https://affucorp.com and Mingothings: https://www.mingothings.com.

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