Patrick C Shutt Appointed New CEO to Enhance Growth and Expand Company’s Market Presence

OAK BROOK, IL / May 20, 2024 – Affluence Corporation (OTC PINK:AFFU), a publicly traded smart industry software and IoT technology company, today announces the successful completion of its merger with Durham Black Inc, a privately held technology services company. The merged company will operate as Durham Black Inc. and continue to trade over the counter on the Pink Market with the ticker symbol AFFU.

This transformative merger marks a pivotal moment for Affluence Corporation, now doing business as Durham Black Inc., and will unlock new markets by expanding the company’s addressable market into the $1.7 trillion global communications market.

The merged public holding company intends to increase shareholder value through a set of new acquisitions, presently under letters of intent (LOI), establishing Durham Black Inc. as a global leader in asset-light, innovative, and AI-enabled software and services, focused on the global communications market.

With the merger, Patrick C Shutt is appointed as the new CEO and Board Director of Durham Black Inc. Shutt is a seasoned executive with over 30 years of leadership and capital markets experience in the technology and connectivity industry. He has a strong track record of successfully growing technology companies and leading them through significant milestones, including Universal Access, Global Capacity, and most recently at Unitas Global, where the company grew from start up, to over $80m and was sold to PacketFabric at an attractive market multiple of revenue.

“I first want to thank the executive team, board and key shareholders of Affluence Corporation for their hard work and dedication in bringing this merger to fruition.  Together, we are well-positioned to maximize the exciting opportunities in the global communications market. I am honored to lead Durham Black Inc. during this pivotal moment,” remarked Shutt. “As a public holding company with our team’s strong operational experience and deep knowledge of the technology and communications industry landscape, we are very well positioned to capitalize on emerging opportunities to transform the global connectivity market and create substantial shareholder value.”

James E Honan, Jr, who has served as the CEO of Affluence Corp since 2019 and played a key role in establishing the company’s focus on IoT software, will be transitioning from his position to continue to serve as a member of the Board of Directors. Honan expressed his enthusiasm about the completion of this transformative merger, emphasizing “This strategic move will enhance the company’s market position and enable the expansion of its capabilities. This, in turn, will support the pursuit of our two-pronged growth strategy, involving the exploration of new markets and the addition of value through multiple acquisitions.”

Durham Black Inc. is fully committed to honoring and advancing the current Letters of Intent (LOIs).  These agreements represent significant opportunities for the company to expand its market presence and leverage innovative technologies.



Contact Information:

Affluence Corp Media Relations Email:  press@affucorp.com

Durham Black Media Relations Email:  press@durham-black.com

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

Forward-Looking Statements: 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.

Strategic acquisitions strengthen OneMind Technologies and expands market reach.

Oak Brook, IL. April 9, 2024 – Affluence Corporation, a leader in Smart City Software and Internet of Things (IoT) technology, today announced that it has reached an agreement to acquire three IoT technology companies and, along with OneMind Technologies, will form a new company named Digibriks. The proposed acquisition includes companies with complementary software products, engineering, integration, and implementation services capabilities. Affluence has executed Letters of Intent with all three companies, and upon completion, Digibriks will become a wholly owned subsidiary of Affluence, giving OneMind Technologies an end-to-end solution and entry into Telecom, Manufacturing as well as expanding its footprint into the Smart City markets. Affluence is under NDA with all three companies, and the acquired companies will be identified via press release upon completion of the definitive acquisition documents.

“This proposed acquisition is a continuation of our strategic plan to significantly grow Affluence in 2024. The proposed acquisition achieves multiple goals for Affluence,” said James E Honan, Jr., CEO of Affluence Corporation. “First and foremost, this acquisition will add to top-line revenue as well as positive earnings and cash flow. In 2023, the combination of these three companies recorded approximately $5 million in revenue and over $1 million in EBITDA. Secondly, we will have an improved technology platform integrating Digibriks’ connectivity solutions, IIOT platforms, and digital twin technologies with OneMind, giving Affluence a dominant product in multiple industries. Third, this acquisition will give access to a large installed base for the new OneMind product, greater access to a growing network of a world-class partner ecosystem, and a large reseller and distributor network. In addition, we will take advantage of the economies of scale with a more efficient operating cost structure for all four companies.”

The proposed acquisition will strengthen OneMind Technologies’ Hypervisor NG product and enable the product to manage devices and networks, connect to Industrial systems and standards, and streamline the operations and maintenance cycles of industrial projects. The merged solutions will also expand the company’s integration capabilities beyond The Smart City space to develop new Telecom and Manufacturing opportunities.

Upon completion of the definitive acquisition documents, Affluence will identify the three merged companies in a formal press release. The first of the merged companies specializes in crafting valuable ecosystems through a combination of robust IoT software and networking solutions. The companies are experts in interconnected systems, solution development, and network optimization through a blend of cutting-edge software, integration capabilities, and consulting services. One company provides definitive expertise in project completion, specializing in adaptation design and installation of technology initiatives focusing on smart systems, specifically in the Mobility, Telecom, and Manufacturing sectors. Their unique approach combines deep technical expertise with a client-centric focus to transform complex technology into user-friendly solutions. The third company develops a suite of software products for intelligent IoT platforms. Their software suite includes intelligent device monitoring, intelligent operations centers, and, most importantly, cyber security operations centers. The integration of these technologies with OneMind will be unmatched in the marketplace. All three companies are generating revenue and are cash flow positive.

“Affluence is looking forward to working with all of the principals of the merged companies as we continue to build a world-class software and services organization,” continued Honan. “We are excited for the opportunity to take OneMind into more lucrative markets while establishing a complementary partner ecosystem with an installed base to upgrade to Hypervisor NG. In addition, because of our new ability to offer engineering and integration services, we can take a larger piece of the opportunities we win, ensuring a streamlined customer experience.”

“In addition, Affluence Corporation would like to provide an update on the acquisitions of Durham Black and Contrivian,” said Honan. “All of the involved parties have mutually agreed to extend the due diligence period and extend the timeframe of the Letter of Intent agreements. We had successful and substantive meetings in Chicago last week with both companies, and we should have definitive merger documents for both companies within the next few weeks.”



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. January 30, 2024Affluence Corporation, a leader in Smart City Software, Internet of Things (IoT) technology today announced its strategic intent to acquire Durham Black, LLC, a strategic advisory firm focused on three fundamental areas: Capital Structure, Growth Execution and Operational Excellence.  The acquisition is a significant step forward in Affluence growth strategy, aimed at establishing itself as a global leader in solutions that power both smart industries and next generation Internet.

Following the close of the transaction Affluence will appoint Durham Black management to leadership. Patrick Shutt will be named CEO and Chairman of the Board and Mary Stanhope will become COO.

“This is an exciting time for Affluence, the Durham Black team is already driving value and we have a shared vision to maximize the potential of Affluence and grow from both organic and acquisition initiatives.” said James E Honan, Jr., CEO of Affluence Corporation. “The addition of Patrick Shutt and his team will further drive the growth of Affluence and position us to be able to assimilate future acquisitions.”

Patrick Shutt is a leader in the telecom, technology, and adjacent software sectors and brings a depth of experience and an extensive 25-year track record of success. He has been a Founder, CEO and has provided unique value for every organization he has been with.  Patrick has led capital transactions in excess of $800 million, of note, Goldman Sachs underwrote the IPO of Universal Access where Mr. Shutt as CEO raised $240 million in equity and had a market cap over $5.5 billion at its peak.  Mr. Shutt has a history of growing technology companies as he grew Universal Access to $144 million in revenue in four years and as CEO of Unitas Global grew that company from $2 million in revenue to $80 million in revenue.

Mary Stanhope has over 25 years of leadership experience for global technology companies. A transformational leader, Mary has held strategy and operating positions at both startup and turnaround companies including Unitas Global, Global Capacity, Sidera Networks, and Priority Call Management, with extensive global M&A work with Atos Origin and SchlumbergerSema technology business lines.

This strategic move positions us to deliver on our plan to significantly grow the company in 2024 and opens new opportunities for innovation and collaboration.



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.

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