Affluence Corporation Issues Shareholder Letter Highlighting First Year of Corporate Transformation and the Company's Next Phase of Strategic Growth

BOULDER, CO - July 8, 2026 (NEWMEDIAWIRE) - Affluence Corporation (OTCID: AFFU), a diversified global technology company focused on Smart City, Industrial IoT, and security software solutions, today issued a shareholder letter from Oscar Brito, President of Affluence, reflecting on the Company's reorganization following the appointment of new management.

Dear Shareholders,

Over the past year, Affluence Corporation has undergone one of the most significant transformations in its history. Our efforts have been centered on a clear objective: to build a stronger company with a scalable operating platform, an improved capital structure, and a disciplined strategy for long-term growth.

While meaningful work remains, we believe the foundation has largely been established. As we move into the second half of 2026, our focus is increasingly shifting from restructuring the Company to executing our growth strategy.

Building a Scalable Technology Platform 

Our long-term vision is to build Affluence into a diversified technology company focused on Smart Cities, Industrial IoT, AI-enabled infrastructure, enterprise software, and intelligent infrastructure solutions.

The acquisition of Mingothings established the cornerstone of this strategy by providing the Company with 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 our capabilities in enterprise security, intelligent video analytics, software development, access control, and integrated hardware solutions. We believe this acquisition strengthens our ability to deliver increasingly comprehensive technology solutions while creating opportunities for commercial collaboration and cross-selling across our customer base.

Based on our current operating businesses, management currently projects that our 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, customer demand, market conditions, and other customary business risks.

A Disciplined Acquisition Strategy

Strategic acquisitions will continue to be one of the principal drivers of Affluence's long-term growth strategy.

Over the past year, we have demonstrated our commitment to this strategy through the acquisition of Mingothings and the subsequent acquisition of Marina Eye-Cam Technologies. While each transaction is important in its own right, they collectively represent a broader strategic vision rather than isolated opportunities.

We believe the Industrial IoT, Smart Infrastructure, AI, and enterprise software sectors continue to present an attractive landscape for disciplined consolidation. Across Europe and the United States, we are identifying an increasing number of well-managed technology companies with proven products, recurring customer relationships, experienced management teams, and attractive operating characteristics. Many of these businesses occupy what we believe is an underserved segment of the market - they are often below the size typically pursued by larger strategic acquirers, yet have reached a level of maturity where joining a larger platform can accelerate growth for both organizations.

We believe Affluence is well positioned to capitalize on this opportunity. Our objective is not simply to acquire companies to increase revenue. Rather, we intend to build an integrated technology platform where complementary businesses benefit from shared engineering resources, expanded commercial reach, cross-selling opportunities, operational efficiencies, and greater scale.

While we initially expected to advance portions of our acquisition strategy more rapidly, management made the deliberate decision to first strengthen the Company's financial foundation, including completing the reverse stock split and substantially advancing the restructuring of our balance sheet, before pursuing additional acquisition financing. In our view, the Company's previous capital structure significantly constrained our ability to access growth capital on terms consistent with our long-term objectives.

We believe the Company is now better positioned to pursue acquisition financing and continue executing its growth strategy, and we remain actively engaged with financing sources while advancing due diligence on previously announced opportunities and evaluating additional acquisition candidates that meet our strategic and financial criteria.

Growth trajectory.

Beyond our current operating businesses, we continue to evaluate acquisition opportunities that we believe could meaningfully expand the Company's scale. Any such expansion remains contingent on completing definitive agreements, securing financing on acceptable terms, and satisfying customary closing conditions, none of which is assured. We do not intend to provide specific combined-company financial estimates until we have definitive transactions to support them.

Strengthening the Capital Structure

Improving our balance sheet has remained one of management's highest priorities.

As previously announced, Affluence entered negotiations with holders of outstanding convertible debt with the objective of restructuring a substantial portion of those obligations into long-term preferred equity securities. Definitive agreements remain subject to final documentation and execution, and there is no assurance the restructuring will be completed on the terms currently contemplated, or at all. We will disclose material developments in this restructuring, including execution of definitive agreements, promptly and in accordance with our public disclosure obligations.

If completed substantially as currently contemplated, the restructuring is intended to eliminate a significant portion of the Company's outstanding convertible debt while replacing legacy convertible instruments with long-term preferred securities. Importantly, the structure under discussion is also intended to eliminate deeply discounted conversion mechanisms and other highly dilutive features associated with certain historical financing instruments.

We believe this restructuring has the potential to materially reduce future dilution, improve our balance sheet, lower our effective cost of capital, and better align our long-term capital partners with the Company's strategic objectives.

Completing Phase One 

The reverse stock split, the balance sheet restructuring, and the growth of our operating platform are all components of a broader transformation.

We view a future national securities exchange listing as the intended culmination of the first phase of that transformation. A national exchange listing is not the destination. Rather, we believe it represents an important milestone that could provide broader access to institutional investors, improved market visibility, enhanced liquidity, and potentially lower-cost growth capital.

That, in turn, would support what we view as Phase Two of our strategy: continuing to build an integrated portfolio of complementary Industrial IoT, Smart Infrastructure, AI, and enterprise software businesses across Europe and North America. 

Looking Ahead 

Our priorities for the balance of 2026 remain clear:

- Continue executing the balance sheet restructuring

- Complete the integration and commercial expansion of Mingothings and Marina Eye-Cam

- Advance strategic acquisition opportunities that meet our financial and operational criteria

- Increase recurring revenue and operating profitability

- Improve access to growth capital

- Continue positioning the Company to pursue a future national securities exchange listing

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.

We remain committed to disciplined growth, prudent capital allocation, transparent communication, and creating sustainable long-term value for our shareholders. 

On behalf of our Board of Directors, our employees, our strategic partners, and the entire Affluence team, thank you for your continued confidence, patience, and support.

Sincerely,
Oscar Brito
President
Affluence Corporation

About Affluence Corporation

Affluence Corporation (AFFU.OTCID) is a diversified technology company focused on Smart City and industry software solutions. Through subsidiaries Mingothings SLU and OneMind Technologies SL, Affluence provides AI-enabled IoT, 5G, and data visualization platforms to enterprise and municipal clients worldwide.

Website: https://affucorp.com

About Mingothings SLU

Mingothings SLU ("MTi") is a specialist in integrated IoT solutions and data analytics for smart cities and connected industries. MTi provides real-time data platforms and consulting services to municipalities and large enterprises.

Website: https://www.mingothings.com

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the Company's projected 2026 IoT segment revenue and EBITDA, the illustrative combined-scale estimate discussed above, the anticipated debt-for-equity restructuring, pending and prospective acquisitions, and the Company's plans regarding a future national securities exchange listing. Words such as "anticipate," "expect," "suggest," "plan," "believe," "intend," "estimates," "targets," "projects," "should," "could," "would," "may," "will," and "forecast," and similar expressions, are intended to identify forward-looking statements.

These forward-looking statements are based on management's current expectations and assumptions and are subject to significant risks and uncertainties that could cause actual results to differ materially, including: the Company's ability to complete any announced or prospective acquisition on the terms currently contemplated, or at all; the Company's ability to secure financing for such acquisitions on acceptable terms, or at all; the Company's ability to complete the previously announced restructuring of legacy convertible debt into preferred equity on the terms currently under discussion, or at all; general economic and business conditions; competitive and technological factors; the Company's limited operating history; the availability and cost of capital; the Company's ability to retain key management and employees; and other risks discussed in the Company's filings with OTC Markets.

Forward-looking statements, including the illustrative combined-scale estimate discussed above, speak only as of the date they are made, are inherently uncertain, and should not be relied upon as predictions of actual future results. Readers are cautioned not to place undue reliance on forward-looking statements. Affluence Corporation assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. 

**Media and Investor Contact**
Email: press@affucorp.com

SOURCE: Affluence Corporation

 

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News Source: Affluence Corp