Affluence Corporation (OTCID: AFFU) has issued a shareholder letter from President Oscar Brito, reflecting on the company's first year of transformation under new management and outlining the next phase of strategic growth. The letter details efforts to build a scalable technology platform, strengthen the capital structure, and execute a disciplined acquisition strategy.
Over the past year, Affluence has focused on reorganizing its operations. The acquisition of Mingothings established an IoT platform with recurring enterprise customers and an international footprint. Subsequently, Mingothings acquired Marina Eye-Cam Technologies S.L., expanding capabilities in enterprise security, intelligent video analytics, and integrated hardware solutions. 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 key driver of long-term growth. The company believes the Industrial IoT, Smart Infrastructure, AI, and enterprise software sectors present opportunities for disciplined consolidation. Affluence is identifying well-managed technology companies that are below the size typically pursued by larger acquirers but have reached a maturity where joining a larger platform can accelerate growth. The company intends to build an integrated technology platform where complementary businesses benefit from shared engineering resources, expanded commercial reach, and operational efficiencies.
Management made a deliberate decision to strengthen the company's financial foundation before pursuing additional acquisition financing. This included completing a reverse stock split and substantially advancing the restructuring of the balance sheet. Affluence entered negotiations with holders of outstanding convertible debt to restructure a substantial portion into long-term preferred equity securities. If completed, the restructuring is intended to eliminate a significant portion of convertible debt, remove deeply discounted conversion mechanisms, reduce future dilution, and lower the cost of capital.
Looking ahead, Affluence views a future national securities exchange listing as the culmination of the first phase of transformation. Such a listing could provide broader access to institutional investors, improved market visibility, and enhanced liquidity. The company's priorities for the balance of 2026 include continuing the balance sheet restructuring, integrating Mingothings and Marina Eye-Cam, advancing strategic acquisition opportunities, increasing recurring revenue and operating profitability, and positioning for a future exchange listing.
The letter emphasizes that the past year was about building the foundation, and the next phase is about execution. The company remains committed to disciplined growth, prudent capital allocation, and transparent communication. For more information, visit the company's website at https://affucorp.com or Mingothings at https://www.mingothings.com.
