Affluence Corporation (OTCID: AFFU) has issued a shareholder letter from President Oscar Brito, reflecting on a year of corporate reorganization and outlining the next phase of strategic growth. The company, which focuses on Smart City, Industrial IoT, and security software solutions, emphasized its transition from restructuring to executing a growth strategy.
According to the letter, the acquisition of Mingothings established the cornerstone of the company's IoT platform, providing 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 IoT operations, including Mingothings and Marina Eye-Cam, could generate approximately $10 million in revenue in 2026, with expected EBITDA of well over $1.5 million, subject to execution and market conditions.
Brito highlighted a disciplined acquisition strategy, stating that strategic acquisitions will continue to drive long-term growth. The company believes the Industrial IoT, Smart Infrastructure, AI, and enterprise software sectors offer attractive consolidation opportunities, particularly among well-managed technology companies that are underserved by larger acquirers. While initial acquisition progress was slower than expected, management prioritized strengthening the financial foundation, including a reverse stock split and balance sheet restructuring, before pursuing additional financing.
The company is actively engaged in restructuring legacy convertible debt 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, and reduce future dilution. Brito noted that the company is now better positioned to pursue acquisition financing and is evaluating multiple candidates.
Looking ahead, Affluence views a future national securities exchange listing as the culmination of Phase One, which would provide broader access to institutional investors and improved liquidity. Phase Two involves continuing to build an integrated portfolio of complementary businesses across Europe and North America. Priorities for the remainder of 2026 include executing the balance sheet restructuring, integrating Mingothings and Marina Eye-Cam, advancing acquisition opportunities, increasing recurring revenue, and improving access to growth capital.
The letter concludes with Brito expressing confidence in the foundation built over the past year and a commitment to disciplined growth and transparent communication. The full letter is available on the company's website at https://affucorp.com. More information about Mingothings can be found at https://www.mingothings.com.
This announcement underscores Affluence's strategic pivot from restructuring to execution, with a focus on scaling its IoT platform and pursuing disciplined acquisitions to drive long-term shareholder value.
