cyport, Author at Affluence Corporation

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Affluence Corporation Acquires Second Telecom Infrastructure Company RAS Engineering, P.A.

06/17/2020

Affluence Corporation (OTC PINK:AFFU), a diversified 5G telecom infrastructure company, announced today that it has acquired Miami, Florida based RAS Engineering, P.A. a telecom infrastructure engineering company. The terms of the deal were not disclosed.

“The RAS Engineering, P.A. acquisition is the second of several planned acquisitions and brings innovative technology, national engineering licenses and synergistic capabilities to be employed by our acquired companies,” said James Honan, Affluence CEO. “RAS Engineering, PA, a nationally-awarded engineering company, has developed a shielding technology that reduces the amount of radiofrequency radiation emitted by 5G base stations. This is quite an accomplishment as many municipalities have placed a moratorium on 5G tower construction until the radiation risk is mitigated. In addition, RAS Engineering, PA holds engineering licenses throughout the US which can be utilized by our most recent acquisition of 5 Stems Inc. RAS Engineering has an impressive track record of generating revenue and profit as well.”

“We are very impressed with Affluence’s strategic approach to addressing the pressing 5G infrastructure implementation issues and are excited to be an integral part of Affluence,” said Raul Schwerdt, CEO of RAS Engineering, P.A. “We believe that we are way ahead of the curve on addressing the 5G radiation issue by developing technology that significantly shields radiofrequency radiation. “Additionally, RAS Engineering, P.A. brings a core engineering design and testing capabilities on buildings and infrastructure sites that most organizations have to farm out to third party providers. It will result in higher profit margins for Affluence projects throughout the country. This truly is a one plus one equals three opportunity for the Affluence family of telecom infrastructure companies.”

About RAS Engineering, P.A.

RAS Engineering, P.A. is a telecom infrastructure engineering and design services organization. RAS Engineering, P.A. provides the critical design work needed for telecom construction projects and site plans. Service offerings include A/E design, code compliance, building performance testing, quality control testing, commissioning, measurement & verification, special inspections, as well as consulting for existing telecom projects.

About Affluence Corporation

Affluence Corporation (AFFU.PK) is a diversified holding company focused on 5G infrastructure businesses including fiber, tower construction and maintenance, base station installation and other complementary technologies.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including: general economic business conditions, competitive and technological factors, markets, services, products and prices, availability and the cost of capital, success of growth initiatives, limited operating history and other factors discussed in our filings with the Securities and Exchange Commissions. Additionally, this release may not be considered as legal, accounting, or investment advice, and is not, and may not be considered, a solicitation for the purchase of any securities issued by Affluence Corporation.

For further information contact Jim Honan at 630-559-6815

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Affluence Corporation Appoints Rohan Chanmugam to its Board of Directors

06/17/2020

Affluence Corporation (AFFU.PK), a telecom infrastructure company, announced today that it has appointed Rohan Chanmugam to serve on its Board of Directors. Mr. Chanmugam is Chairman of Clevercoms Ltd., a management consultancy advising the telecoms, media and technology (TMT) sector and has over 30 years of experience in the industry. In addition to founding Clevercoms, Mr Chanmugam was a Senior Vice President at Equant (Orange Business Services), Managing Director BT A&M, Strategic Advisor to the CEO of COLT Telecom, and Non-Executive Director of Host Europe Corporation.

“Rohan’s breadth and depth of experience in the telecom industry will be an asset to help build and guide the company” said James Honan Jr., CEO of Affluence. “Rohan will give us the global perspective which is lacking in most companies of our size. He has an impressive track record of accomplishment at the highest levels in the telecom industry. I will be leaning heavily on Rohan’s industry experience and also to develop potential partnerships” said Honan.

“Affluence has developed a very interesting strategic plan and I believe that this is the right time for this initiative. I look forward to helping Affluence achieve their ambitions” said Chanmugam. “5G is such a transformative technology and I applaud Affluence’s management team in taking a global approach. 5G will unleash new spectrum and with it better speed and performance, making smartphone and other mobile devices perform better and able to tackle new and advanced applications. 5G will have a significant impact on both business and consumers. It all starts with infrastructure companies like Affluence that will be the backbone of the 5G revolution.”

About Affluence Corporation

For further information contact Jim Honan at 630-559-6815.

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Affluence Corporation Appoints Dale Haase to its Board of Directors

06/17/2020

Affluence Corporation (AFFU.PK), a telecom infrastructure company, announced today that it has appointed Dale Haase to serve on its Board of Directors. Mr. Haase retired as CEO of Metal Parts and Equipment Company after 25 years of leading the company.

“Dale‘s wisdom and experience is exactly the type of person we want to have on our Board of Directors” said James Honan Jr., CEO of Affluence. “Dale’s strong experience in acquisitions in the manufacturing sector will be quite beneficial as we execute our acquisition strategy. I am looking forward to using Dale as a sounding board as we transform Affluence into a premier telecom infrastructure provider,” said Honan.

“I am honored and excited that a company with Affluence’s potential would ask me to take on such a key role,” said Haase. “The conversion to 5G is going to require an increase in the infrastructure labor force the magnitude that has never been seen before. Industry experts are projecting job growth in excess of 200,000 additional positions and I am very impressed with Affluence’s strategy to acquire work crews all across the country.”

Mr Haase has over 45 years of diversified manufacturing experience and has proven success acquiring, growing and selling multiple companies. Mr. Haase led an international joint venture that eventually became Hausermann USA. Mr. Haase received an MBA from the University of Chicago and has a BS degree from Elmhurst College. IMr. Haase has served as a board member for Canton Drop Forge and Bremmer Manufacturing.

About Affluence Corporation

For further information contact Jim Honan at 630-559-6815.

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Affluence Corporation Enters 5G Infrastructure Market; Names James E. Honan Jr. as CEO

06/17/2020

Affluence Corporation (AFFU.PK), a diversified holding company, announced today that it is divesting its interests in their entertainment division to focus on 5G infrastructure and 5G technologies. The company has pending LOI’s with several 5G infrastructure companies. As part of this strategic focus, Affluence Corporation has named James E. Honan Jr. as CEO.

Mr. Honan is tasked to lead the company and execute the company’s acquisition and integration strategy. Mr. Honan was hired due to his impressive track record as a strategic thinker, leader and his successful track record of building businesses within organizations. He will set and execute an aggressive growth plan that will include identifying potential acquisition targets to fuel growth. The company sees Telecom Infrastructure as a key to its 5G strategy.”

“With the advancement of 5G over the next few years, telecom operators will be able to drive and lead the digital transformation of the mobile industry by implementing new business models, products and services and it all begins with the infrastructure. With enhanced data speeds, connectivity, and the capacity of 5G, we will see unprecedented insights and abilities that will change what we do and how we do it. The industry will see a high demand for crew capacity in 2020 as Operators race to have their networks enhanced in order to support 5G”, said Christian DeMarco, Founder and CEO of Vibe Wireless. “Businesses recognizing this trend will have a leg up in the market as they capitalize on the entire telecom market moving into the 5G arena.”

Most recently, Honan was President of Affluence’s Telecom vertical. Prior to that he was a consultant to several companies and private equity firms advising on business development and mergers and acquisitions. Honan has over 25 years of investment banking and corporate finance experience with Continental Bank, ABN Amro, LaSalle Bank and Ernst & Young where he developed business units focusing on debt and credit restructuring deals and developed products for the institutional banking markets.

“I am very excited that Affluence is giving me this opportunity,” said Honan. “Fulfilling the promise of what 5G can deliver begins with infrastructure. It will involve laying miles of fiber, tower construction, installation of hardware and software and maintaining the infrastructure. We are positioning Affluence to be a premier service provider in the telecom infrastructure space ”

Honan received an MBA in Finance from the Mendoza School of Business at the University of Notre Dame, and a BS in Accounting from Bentley University

About Affluence Corporation

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. There are important factors that could cause actual results to differ materially from those expressed or implied by such forwardlooking statements, including: general economic business conditions, competitive and technological factors, markets, services, products and prices, availability and the cost of capital, success of growth initiatives, limited operating history and other factors discussed in our filings with the Securities and Exchange Commissions. Additionally, this release may not be considered as legal, accounting, or investment advice, and is not, and may not be considered, a solicitation for the purchase of any securities issued by Affluence Corporation.