Affluence Corporation (OTCID: AFFU) released a shareholder letter from President Oscar Brito on July 8, 2026, detailing the company's first year of corporate transformation and its next phase of strategic growth. The letter highlights a shift from restructuring to execution, focusing on building a scalable technology platform, strengthening the capital structure, and pursuing disciplined acquisitions.
According to the letter, the cornerstone of Affluence's strategy is the acquisition of Mingothings, which provided an established IoT platform, recurring enterprise customers, and an international footprint. Mingothings recently completed the acquisition of 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, could generate approximately $10 million in revenue during 2026, with expected EBITDA exceeding $1.5 million, subject to execution and market conditions.
The company emphasized a disciplined acquisition strategy, noting that strategic acquisitions remain a principal driver of long-term growth. Affluence is targeting well-managed technology companies in the Industrial IoT, Smart Infrastructure, AI, and enterprise software sectors across Europe and the United States. The objective is to build an integrated technology platform where complementary businesses benefit from shared engineering resources, expanded commercial reach, and cross-selling opportunities. Management made a deliberate decision to strengthen the company's financial foundation, including completing a reverse stock split and advancing balance sheet restructuring, before pursuing additional acquisition financing. The company is now actively engaged with financing sources and advancing due diligence on previously announced opportunities.
Improving the balance sheet has been a high priority. 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 and deeply discounted conversion mechanisms, reducing future dilution and lowering the cost of capital. Definitive agreements remain subject to final documentation, and there is no assurance the restructuring will be completed.
Looking ahead, Affluence views a future national securities exchange listing as the culmination of the first phase of transformation, which could provide broader access to institutional investors, improved visibility, and enhanced liquidity. The company's priorities for the balance of 2026 include executing the balance sheet restructuring, integrating Mingothings and Marina Eye-Cam, advancing acquisition opportunities, increasing recurring revenue and profitability, and positioning for a future listing.
The letter concludes with a commitment 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.
