Affluence Corporation (OTCID: AFFU) released a shareholder letter from President Oscar Brito on July 8, 2026, detailing the company's first-year transformation and strategic growth plans. The letter highlights a shift from restructuring to execution, focusing on Smart City, Industrial IoT, and security software solutions.
Brito emphasized building a scalable technology platform through acquisitions. The acquisition of Mingothings established an IoT platform with recurring enterprise customers and international reach. Subsequently, Mingothings acquired Marina Eye-Cam Technologies S.L., expanding capabilities in enterprise security, video analytics, and integrated hardware. Management projects IoT operations could generate approximately $10 million in revenue in 2026 with EBITDA exceeding $1.5 million, subject to risks.
The disciplined acquisition strategy targets Industrial IoT, Smart Infrastructure, and AI sectors. Brito noted many mature, underserved companies are ideal for consolidation. However, management deliberately slowed acquisition pace to strengthen the company's financial foundation, including a reverse stock split and balance sheet restructuring, before pursuing financing. The company is now actively engaging financing sources for previously announced opportunities.
Strengthening the capital structure remains a priority. Affluence is negotiating with convertible debt holders to restructure obligations into long-term preferred equity, aiming to eliminate highly dilutive conversion mechanisms. If completed, this could reduce future dilution, improve the balance sheet, and lower the cost of capital.
Brito views a national exchange listing as the culmination of Phase One, providing access to institutional investors and improved liquidity. Phase Two involves building an integrated portfolio of complementary businesses. Priorities for the remainder of 2026 include executing the balance sheet restructuring, integrating Mingothings and Marina Eye-Cam, advancing acquisitions, increasing recurring revenue, and positioning for an exchange listing.
The letter concludes by thanking shareholders and emphasizing disciplined growth and transparent communication. Forward-looking statements caution that actual results may differ due to risks, including the ability to complete acquisitions and restructuring.
