Affluence Corporation (OTCID: AFFU) has issued a shareholder letter from President Oscar Brito, reflecting on a year of corporate transformation and outlining the company's next phase of strategic growth. The letter highlights key achievements, including acquisitions, balance sheet restructuring, and a clear path toward a national securities exchange listing.
Over the past year, Affluence has focused on building a scalable technology platform centered 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 and an international footprint. Mingothings subsequently acquired Marina Eye-Cam Technologies S.L., expanding capabilities in enterprise security, intelligent video analytics, and integrated hardware solutions.
Management currently projects that its 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. These projections are based on current operating businesses and reflect the company's disciplined approach to growth.
Strategic acquisitions remain a principal driver of Affluence's long-term growth strategy. The company believes the Industrial IoT, Smart Infrastructure, AI, and enterprise software sectors present an attractive landscape for consolidation. Affluence is identifying well-managed technology companies with proven products and recurring customer relationships that are below the size typically pursued by larger acquirers but mature enough to benefit from joining a larger platform. The objective is to build an integrated technology platform where complementary businesses share engineering resources, commercial reach, and operational efficiencies.
While initially expecting to advance its acquisition strategy more rapidly, management deliberately chose to strengthen the company's financial foundation first. This included completing a reverse stock split and substantially advancing the restructuring of its 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 top 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 a significant portion of convertible debt, replace legacy instruments with long-term preferred securities, and eliminate deeply discounted conversion mechanisms and other highly dilutive features. This restructuring has the potential to materially reduce future dilution, improve the balance sheet, lower the cost of capital, and better align long-term capital partners with the company's strategic objectives.
The company views a future national securities exchange listing as the culmination of the first phase of its transformation. A national exchange listing could provide broader access to institutional investors, improved market visibility, enhanced liquidity, and potentially lower-cost growth capital. This would support Phase Two of the strategy: continuing to build an integrated portfolio of complementary Industrial IoT, Smart Infrastructure, AI, and enterprise software businesses across Europe and North America.
For the balance of 2026, Affluence's priorities include executing the balance sheet restructuring, completing the 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 continuing to position the company for a future national exchange listing.
For more information, visit Affluence Corporation and Mingothings.
