Affluence Corporation (OTCID: AFFU) has issued a shareholder letter from President Oscar Brito, reflecting on the company's reorganization and outlining its next phase of strategic growth. The letter highlights the company's transformation over the past year, centered on building a scalable operating platform, improving capital structure, and pursuing disciplined acquisitions.
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, recurring enterprise customers, and a growing international footprint. Subsequently, Mingothings completed the acquisition of Marina Eye-Cam Technologies S.L., expanding capabilities in enterprise security, intelligent video analytics, software development, access control, and integrated hardware solutions.
Based on current operating businesses, 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. The company emphasizes that strategic acquisitions will continue to be a principal driver of long-term growth, targeting well-managed technology companies with proven products and recurring customer relationships across Europe and the United States.
Affluence has also been focused on strengthening its capital structure. The company 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, reduce future dilution, and improve the balance sheet. The company views a future national securities exchange listing as a key milestone, providing access to institutional investors and improved liquidity.
Looking ahead, priorities for the balance of 2026 include executing the balance sheet restructuring, integrating Mingothings and Marina Eye-Cam, advancing strategic acquisition opportunities, increasing recurring revenue and profitability, and positioning the company for a future national exchange listing. The letter concludes by emphasizing a shift from restructuring to execution, with a commitment to disciplined growth and transparent communication.
