Affluence Corp issues shareholder letter outlining restructuring progress

Affluence Corporation (OTCID: AFFU) issued a shareholder letter from President Oscar Brito on July 8, outlining the company's restructuring progress over the past year and priorities for the second half of 2026.

The letter highlighted two acquisitions as central to its technology platform strategy. Affluence acquired Mingothings, an IoT solutions provider, and Mingothings subsequently acquired Marina Eye-Cam Technologies S.L., a company focused on enterprise security, intelligent video analytics, access control, and integrated hardware solutions.

Management projected that its IoT operations, including both Mingothings and Marina Eye-Cam, could generate approximately $10 million in revenue during 2026, with expected EBITDA of over $1.5 million. The company noted those figures are subject to execution risk, customer demand, and market conditions.

Affluence also disclosed ongoing negotiations to restructure a portion of its outstanding convertible debt into long-term preferred equity securities. The company stated that definitive agreements have not yet been executed and that completion is not assured. If completed, the restructuring is intended to reduce dilutive features associated with existing convertible instruments.

The company completed a reverse stock split as part of its balance sheet restructuring and stated it is positioning itself to pursue a future national securities exchange listing, which it described as a milestone rather than a final objective.

Stated priorities for the remainder of 2026 include completing the debt restructuring, integrating its acquired subsidiaries, advancing additional acquisition opportunities, and increasing recurring revenue and operating profitability.

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