Strategic acquisition expands Affluence into $500b Global Connectivity Market

OAK BROOK, IL / ACCESSWIRE / January 18, 2024 / Affluence Corporation (OTC PINK:AFFU), a leader in Smart City Software and Internet of Things (IoT) technology, today announced that it has reached an agreement to acquire Contrivian Inc., a global next-generation connectivity provider.  Contrivian leverages its sophisticated North Star™ customer experience application and innovative Lighthouse™ technology to provide intelligent, high performance internet solutions for enterprise customers globally.  The two companies have executed a Letter of Intent for Contrivian to become a wholly owned subsidiary of Affluence, expanding its product portfolio into the $500b global connectivity market.

“This is the first step in a series of acquisitions we plan to make this year, which will significantly grow Affluence. We are excited for the increased growth potential brought to us with entry into this new exciting market,” said James E Honan, Jr., CEO of Affluence Corporation. “Contrivian offers network services to global enterprises that rely on connectivity – that’s everyone. We see that Contrivian has an incredible opportunity to be the technology leader in what is a highly fragmented global market and bring meaningful value to Affluence.”

Contrivian brings innovative technology and much needed software automation and intelligence to the global connectivity space. Today’s internet is built on decades-old protocols and “best efforts” routing; it was not built for the performance that cloud computing, AI, and Software as a Service (SaaS) now demands of it. The growing enterprise migration from legacy private networking to internet access further exacerbates the issue. Contrivian has created a new solution with its proprietary Lighthouse and NorthStar technology, putting innovative routing intelligence and customer experience at the customer edge anywhere around the world.

“We are excited for the opportunities and scale we will gain being part of Affluence,” said Grant Kirkwood, CEO of Contrivian. “We have a shared vision to maximize the potential of Contrivian and grow through further acquisitions, establishing us as a leader in the global connectivity market. I look forward to the many benefits this acquisition will yield for our clients and global partners.”

“Affluence is looking forward to working with Grant and adding his entrepreneurial experience and proven technical knowledge to the management team,” continued Honan. “Going forward, we will continue to deliver on our two-pronged growth strategy to unlock new markets for existing wholly owned subsidiary, OneMind Technologies, while adding increased value with multiple new acquisitions.”



For further information contact Affluence Corporation Investor Relations at +1 720-295-6409.

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.

OAK BROOK, IL / ACCESSWIRE / December 20, 2023 / Affluence Corporation (OTC PINK:AFFU), a leader in Smart City Software and Internet of Things (IoT) technology, today announced it has partnered with strategic advisory firm Durham Black to execute a two-pronged growth strategy that will unlock new markets for its wholly owned subsidiary, OneMind Technologies, while adding increased value through new acquisitions thereby establishing Affluence as a global leader in solutions that power both smart industries and next generation Internet.

“In order to maximize the potential of Affluence, we need to grow both organically and through acquisitions, and the Durham Black team has a proven track record achieving both,” said James E Honan, Jr., CEO of Affluence Corporation. “Our board of directors has tasked us to develop a plan to significantly grow the company in 2024, and Durham Black is the ideal partner for Affluence as we enter our next growth stage.”

“This is an exciting time for Affluence, and we are confident that Durham Black’s proven track record of business building, will help Affluence achieve its growth objectives,” said Patrick Shutt, Managing Director of Durham Black. “The success that Affluence has achieved with OneMind to date is foundational for its successful move into new markets. We see other potential avenues for growth and look forward to working with the Affluence management team to deliver results from both organic and acquisition initiatives.”

The initial diligence with Durham Black has solidified a strategy to expand OneMind Technologies into other synergistic markets. OneMind’s Smart System Orchestrator has achieved success in enabling Smart Cities. The same platform that brings intelligence by sharing information across systems to improve decision making and operational performance for Smart Cities has tremendous potential in Big Data, Telecom, Autonomous Things, and other markets where users need to unify and interpret data from multiple sources and disparate systems.

“I’m extremely impressed with the Durham Black work product and the team advising us,” continued Honan. “With decades of driving value in deals, the Durham Black team is already playing a vital role in mapping out an acquisition plan for Affluence to add three to four high quality companies over the next twelve months that they believe are positioned to grow meaningfully and deliver lasting value. We look forward to this partnership and the many benefits it will yield for our subsidiaries, global partners, and shareholders.”



For further information contact Affluence Corporation Investor Relations at +1 720-295-6409.

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.

Oak Brook, IL. November 20, 2023 – Affluence Corporation (AFFU OTC) a leader in Smart City Software and Internet of Things (IoT) technology released its earnings for the Third Quarter of 2023.  Highlights include:

  • Revenue of $433,000
  • Gross Margin of 84%
  • SAAS revenue from multiple customers

“We are very pleased with our third quarter results,” said James E. Honan, Jr., CEO of Affluence Corporation.  “At first blush the numbers were below our plan but we made a conscious decision to accelerate our push towards increasing SaaS customers and continuing to invest in product development, new market verticals and an increased sales presence in new geographies.  Revenue for the quarter was approximately $433,000 which was down quarter over quarter but on par with the same period last year.  However, gross margin of 84% significantly increased over last quarter and the prior year.  It is imperative that we shift our sales model with more SaaS customers because the benefits are tremendous.  Last quarter we saw several sales opportunities pushed out to the next quarter.  Not only does the SaaS component add greater predictability to our revenue stream and higher gross margins but it also dramatically reduces sales cycle time.  Enterprise software contracts usually take between 9 to 12 months while SaaS contracts are sub 4 months to complete. We posted a loss of $183,000 primarily due to our investment in additional staff to position us for the future. We added sales coverage and distributors in both North and South America and our sales pipeline includes multiple opportunities in these regions.  On the product side we also introduced a new software product, OneMind NG Polar,” said Honan.

“The OneMind Technologies team continued to make great strides in the third quarter,” said Stephane Eyme, Global CEO of OneMind Technologies.  “We achieved the designation as a Dell Certified Edge Partner by Dell Technologies (DELL NYSE) and prominently worked along side of Dell at several trade shows.  We also enhanced our relationship with Claro Company becoming a distribution partner and are jointly working sales opportunities in Mexico and Latin America.  On the development front, our team completed the OneMind NG Polar product.  OneMind Polar NG is a smart IoT tool that is applicable for Smart City command and control but also addresses the needs of Big Data applications, telecom and data centers.  The product has an intuitive and visual UI/UX which improves the user experience with just a click.  NG Polar contains multiple features that makes it easier to manage and associate data,” said Eyme.



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.

Oak Brook, Illinois: OneMind Technologies, a wholly owned subsidiary of Affluence Corporation (AFFU OTC)) and Orange Business Services (ORAN NYSE) attended a formal signing ceremony for the first phase of the King Abdullah Financial District (KAFD) Project. The agreement was signed on Sept. 4 at a formal ceremony hosted by KAFD, which was attended by more than 50 guests. In attendance were Gautam Sashittal, CEO of KAFD DMC, Sahem Azzam, senior vice president of Middle East, Africa, and Turkey of Orange Business and Stephane Eyme Global CEO of OneMind Technologies.

King Abdullah Financial District Development & Management Co. chose Orange Business, to design, build and run an advanced smart city platform that will seamlessly integrate with KAFD’s existing digital infrastructure utilizing OneMindNG Technologies’ Hypervisor as the key component of the platform. This strategic partnership aims to incorporate advanced technologies including artificial intelligence and data analytics into the existing platform, enhancing the smart city experience within the area, known as Saudi Arabia’s premier business district.

“The development of KAFD’s digital infrastructure aligns with Saudi Arabia’s Vision 2030, as the Kingdom strives to enhance livability and competitiveness within its business districts.” Gautam Sashittal, CEO of KAFD DMC, said: “The increasing wave of urbanization across the world is set to uncover a $517 billion market for smart city solutions with an annual growth rate of 25 percent, a fact that plays into KAFD’s objectives of building a future-proof and business-friendly hub in Riyadh.”   He added: “A major step in that direction, our partnership with Orange Business will further strengthen our drive to become a global pioneer in smart urban development.”

Under the new agreement, Orange Business will deliver a range of services to KAFD, including the Orange Smart City Platform, capable of managing big data, data analytics encompassing descriptive, predictive, and prescriptive analytics, and governance. “The commissioning of the Smart City Platform is a clear signal of our commitment to elevate what is already a world-class district to the next level of smart city evolution – what we call the cognitive city,” said Sahem Azzam, senior vice president of Middle East, Africa, and Turkey for Orange Business.  He added: “This is driven by the collection of data and leveraging AI and data analytics to provide deeper user insights as a basis for new use cases, revenue streams, and innovative services for the city’s population. It will also optimize city operations – making them better, faster, and safer.”

“This is a tremendous long-term opportunity for OneMind and solidifies our position as the technology leader in the Smart City Software market,” said Stephane Eyme, Global CEO of OneMind Technologies.  “The KAFD project is the largest and most significant smart city project in the world and the entire Smart City market is watching this and taking note.  This is our largest win to date and again the architecture and flexibility of our product to ingest any type of data were instrumental to award us during this very competitive tender process against first tier companies. In the Smart City market and the Big Data market there are multiple systems that require data inputs from a myriad of sources, what makes our product superior is that we seamlessly integrate all disparate data sources giving the customer a unified view allowing them to utilize their existing infrastructure.  In contrast our competitors can only work within their own proprietary data sources.  This is the second large opportunity won through Orange Business with our product being one of the key elements.  As a premier technology awarded Best Partner MEA last year by Orange Business, we are extremely happy with the partnership and look forward to continued growth and opportunities within KAFD and throughout the Orange Business customer base,” continued Eyme.



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

Oak Brook, IL. August 22, 2023 – Affluence Corporation (AFFU OTC) a leader in Smart City Software and Internet of Things (IoT) technology released its earnings for the Second Quarter of 2023.  Highlights include:

  • Revenue of $563,000
  • First Software as a Service (SaaS) customer
  • First US customer from the Dell Technologies partnership

“The second quarter was a quarter of firsts for our company, we had our first Software as a Service (SaaS) customer and we had our first US customer through our Dell Technologies (DELL NYSE) partnership,” said James E Honan, Jr., CEO of Affluence Corporation.  “I am extremely proud of our team and delighted to announce quarterly revenue of $563,275 and net income of $42,322. Absolute quarter over quarter revenue was down but when you analyze the composition of the revenue you will understand the decline.  In the second quarter we made a conscious decision to add more predictability to our revenue stream by offering a SaaS alternative for our customers.  Even with the SaaS revenue, Q2 revenue is approximately 13% higher than the same period last year.  It is our belief that offering a SaaS option into the Smart City Software market will increase our reach and positions us well for the future. Going forward our sales pipeline continues its steady growth with both enterprise software and SaaS opportunities and I am extremely excited about our prospects for the remainder of this year and beyond,” said Honan.

“Building upon Jim’s comments above, being able to offer a SaaS alternative will open up more opportunities for OneMind and reduce the time required to close sales,” said Stephane Eyme, Global CEO of OneMind Technologies.  “Our development team did a fantastic job in producing a SaaS version of our best-in- class enterprise software product in such a short period of time.  Equally as important and not to be taken lightly is that we received our first US based customer from our Dell Technologies partnership.  Prior to this quarter all of our sales through the Dell channel have been in the Middle East and Asia.  OneMind was prominently featured at Dell World in Q2 and as a result we received our first US customer shortly after and have several more Dell US opportunities in our pipeline.  I am very excited to unleash the power of the entire Dell Technologies US based sales team,” said Eyme.



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.

Oak Brook, IL. July 10, 2023 – Affluence Corporation (AFFU.PK) a leader in Smart City Software and Internet of Things (IoT) technology announced today that its wholly owned subsidiary OneMind Technologies has increased its sales presence in South America through its partnership with Globe, S.A., one of the premier value added services, distribution and integrators in South America.

“The partnership with Globe has already started paying dividends,” said Stephane Eyme, Global CEO of OneMind Technologies.  “Globe has included OneMind’s Hypervisor NG into a very large, high profile smart city project in Chile and we were able to recognize revenue from that project in Q2. Of particular note is that this project incorporated the SaaS capabilities of Hypervisor NG.  Our long-term strategy is to have a mix of enterprise software and subscription revenue to build a more predictable revenue stream. We are extremely satisfied with the relationship with Globe, their professionalism and reach in South America is what makes them the top integrator in the geography. We have been working with Globe since October and have found that there is pent up demand throughout South America to centralize and manage data from multiple sub-systems such as traffic, parking, smart traffic lights, GPS positioning of busses and first responders, air quality, waste collection, water systems, CCTV and license plate recognition in a single panel view in all major metropolitan areas of this geography.    We are looking forward to continued growth in the partnership and have multiple joint opportunities in our pipeline,” said Eyme.

“Incorporating OneMind’s Hypervisor NG in our portfolio will allow us to compete and implement projects with a “Best-In-Class” solution that enables a comprehensive vision which enables more efficient management and holistic intelligence so users can process and act on information from different systems and data sources, something that has been lacking up until now,” said Jaime Godoy, CEO of Globe.

 



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.

Oak Brook, IL. May 22, 2023 – Affluence Corporation (AFFU.PK) a leader in Smart City Software and Internet of Things (IoT) technology released its earnings for the First Quarter of 2023.  Highlights include:

  • Revenue of $887,000
  • Quarter over quarter growth of 104%
  • Highest net income in history

“We had an exceptional First Quarter in terms of both revenue, net income and customer base growth,” said James E Honan, Jr., CEO of Affluence Corporation.  “I am extremely proud of our team and delighted to announce record quarterly revenue of $887,278 and record net income of $277,685. Revenue grew by 104% over Q4 2022 and by 73% over the same time period of 2022, additionally our Q1 revenue is approximately 60% of what we achieved for the entirety of 2022.  The First Quarter Net Income of $277,685 is our largest quarterly profit in history.   It is my belief that going forward we will continue to see this type of growth building off of the momentum that we established in the second half of last year where we made significant investments in our team.  I am extremely excited about our prospects going forward,” said Honan.

“The OneMind Technologies team continues to exceed my expectations and the fantastic First Quarter results are a testament to their efforts,” said Stephane Eyme, Global CEO of OneMind Technologies.  “Our sales team won a major order where the OneMind Product will be the command and control platform for the City of Riyadh, Saudi Arabia.  This is second time that we went head-to-head against our toughest competitor, a Fortune 200 company and won a multi-million dollar opportunity where the customer viewed our technology and approach as superior.  The investments we made in our sales team is paying dividends as our sales pipeline continues to grow exponentially.  Already in Q2 we have won multiple direct and channel opportunities in Chile, Mexico and the US but more importantly in addition to the smart city market we are expanding into new markets as we have received orders from retail logistics companies and universities.  Our development team made great strides strengthening our core product with additional AI capabilities.  Our professional services team continues to deliver against a contract for the world’s largest smart city project,” said Eyme.



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.