Affluence Corporation (OTCID: AFFU) issued a shareholder letter from President Oscar Brito on July 8, 2026, reflecting on the company's reorganization over the past year and outlining its next phase of strategic growth. The letter highlights the transformation of the diversified global technology company, which focuses on Smart City, Industrial IoT, and security software solutions.
According to the letter, the company's long-term vision is to build a scalable technology platform centered 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. More recently, Mingothings 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 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. The company emphasized that strategic acquisitions will continue to be a principal driver of long-term growth, targeting well-managed technology companies in Europe and the United States that are often underserved by larger acquirers.
Affluence also highlighted progress in 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 letter noted that the company's previous capital structure constrained access to growth capital, but it is now better positioned to pursue acquisition financing.
Looking ahead, the company views a future national securities exchange listing as the intended culmination of the first phase of its transformation, which could provide broader access to institutional investors and enhanced liquidity. Priorities for the balance of 2026 include executing the balance sheet restructuring, integrating Mingothings and Marina Eye-Cam, advancing strategic acquisitions, increasing recurring revenue and profitability, and improving access to growth capital.
Oscar Brito stated, "The past year has been about building the foundation. We strengthened our operating platform, expanded our technology capabilities, improved our capital structure, and positioned the Company for its next stage of development. The next phase is about execution."
