Oak Brook, IL. November 22, 2022 – Affluence Corporation (AFFU.PK) a leader in Smart City Software and Internet of Things (IoT) technology released its earnings for the third quarter of 2022 with its fourth straight quarter of positive net income.  Highlights include:

  • Revenue growth of 504% year over year
  • Gross margin growth of 20 points quarter over quarter
  • The fourth consecutive quarter of positive net income

“I am pleased to announce strong positive results in the third quarter, as we continue to make great strides in growing the business,” said James E. Honan, Jr., CEO of Affluence Corporation.  “I am extremely proud of our team and delighted to announce revenue of $453,005 and net income of $132,670 for the third quarter of 2022. The revenue number is adjusted to reflect the divestiture of the RAS subsidiary and is slightly higher quarter over quarter on an adjusted basis.  More importantly, we dramatically improved our gross margin percentage by 20 points quarter over quarter and grew year over year revenue by 504%,” said Honan.

“It is amazing what our management team accomplished in Q3,” said Dale Haase, Affluence Board Member. “We have forged significant partnerships with three of the world’s premier technology companies that will dramatically improve our sales reach in North America, the Middle East and Asia and we will be formally announcing these partnerships in the upcoming months.  Additionally, we divested our RAS subsidiary which will enable us to focus on high growth, high margin markets including Digital Cities and AI.  We also brought in $3.3 million of growth capital in a funding round led by Invenire Capital, LP that has enabled us to increase our development and sales headcount,” continued Haase.

“Operationally, in Q3 the company continued to execute on the delivery of Phase 1 of a multi-year, multi-million dollar contract for the largest Smart City project in the world where our Hypervisor product has been selected as the command and control software for the project,” continued Honan.  “Also, we continued to deliver on a $1 million dollar Artificial Intelligence (AI) contract from the large technology company that is responsible for technology integration for the project.  Going forward, both projects will continue to generate revenue for the remainder of this year and in 2024.  In addition, our distribution network continues to expand which is fueling our growth.  The sales pipeline has never been larger and continues to grow including several large, late stage sales opportunities.  I am confident that we will continue with this momentum in Q4 and beyond,” said Honan.

 



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 10, 2022 – Affluence Corporation (AFFU.PK) a leader in Smart City Software and Internet of Things (IoT) technology announced today that OneMind Technologies and its Hypervisor product will be on display at the Smart City Expo World Congress 2022 Conference to be held in Barcelona, Spain from November 15th to 17th. The Smart City Expo World Congress 2022 is the premier international event for the smart city sector and over 24,000 attendees are expected.

“Based on our previous successful showings at prior partner events I am pleased to announce that next week November 15th through the 17th OneMind Technologies is invited as a technology partner by Dell Technologies (NYSE: DELL),” said Stephane Eyme, CEO of OneMind Technologies. “We are extremely excited to be able to demonstrate how the OneMind IoT Hypervisor solution can help add value to intelligence systems and manage and prevent safety, security and digital city incidents. Please stop by the Dell Technologies and Nvidia Software (NASDAQ: NVDA) stand and to view Dell’s Digital City Solution, Powered by OneMind Technologies,” said Eyme.

In addition, OneMind Technologies will be featured in two prominent speaking slots. On November 15th at 2:30 PM CET, Stephane Eyme, OneMind’s CEO will give a talk on “How Sharing realtime Information Across Multiple Domains Creates New Layers of Intelligence that Optimizes Smart City Operations.” Also on November 16th at 11:30 AM CET, Javier Solorzano OneMind’s CTO will discuss “The Latest Innovations In Smart City Software Technology.” This year’s show will have a special focus on Enabling Technologies, Energy & Environment, Mobility, Living & Inclusion, Economy, Infrastructure & Buildings and Safety & Security. The conference presents the industry’s most comprehensive showcase to date as it brings together key government leaders, agencies and organizational heads with outstanding world-class speakers, innovative products and technology across all sectors.



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. October 6, 2022 – Affluence Corporation (AFFU.PK) a leader in Smart City Software and Internet of Things (IoT) technology announced today that OneMind Technologies and its Hypervisor product is being significantly enhanced to address growing market demand and new applications that require OneMind’s unique approach.

At OneMind Technologies, we continue to enhance and evolve our hypervisor solution OneMind NG for multiple applications. Working closely with our partners, we have been developing a use case involving multiple city emergency services to resolve swiftly and efficiently a situation that would otherwise require heavy operational coordination and decision making process. The use case demonstrates how the benefit of real-time analytics and multi-domain intelligence can be applied to Public Safety for Smart Cities, reducing time to respond and optimizing operational efficiency, transforming how cities and organizations respond to managing citizen safety.

The team will present a live demo of the use case during our visit next week to GITEX GLOBAL, the annual enterprise technology and global digital transformation event. This takes place on the 10-14th of October at the Dubai World Trade Centre, a perfect scenario to show the value of OneMind NG’s  technological evolution.

GITEX is the annual enterprise technology and global digital transformation event taking place in Dubai, United Arab Emirates at Dubai World Trade Centre. The event underpins the rapid technology-driven transformations, investments and projects shaping the economies of the Middle East, Africa and Asia.



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. September 22, 2022 – Affluence Corporation (AFFU.PK) a leader in Smart City Software and Internet of Things (IoT) technology announced today that OneMind Technologies and its Hypervisor product had an extremely successful debut as one of Dell Technologies (NYSE:DELL) Smart City solution Partners  at the Intersec Saudi Arabia Conference which was held in Riyadh.

“We had an extremely busy and successful three days working with the Dell Technologies OEM & Video Surveillance team,” said Stephane Eyme, CEO of OneMind Technologies.  “This was the first time that we worked side by side with the Dell OEM Solutions Team and we left the conference with several sales opportunities as well as initiated partnership discussions with several technology companies with whom we plan to take OneMind’s platform to market. I would like to thank Dell Technologies and their OEM Solutions team and look forward to working with them again at the Digital Cities Conference in November in Barcelona,” said Eyme.

“Joining the OneMind team at Intersec Saudi Arabia was our new Head of Sales for the Middle East and ASEAN, Jorge Luengo Azcona. Jorge comes to us with more than 20 years of success in selling and implementing disruptive technologies with his most recent position as Director of Enterprise Products and Partnerships for Batelco (Bahrain).  We are extremely fortunate to add a professional with Jorge’s experience to our team, “continued Eyme. “I am very excited with the opportunity to help shape OneMind’s growth.   I have heard quite a bit about OneMind’s Hypervisor and also ran up against them in sales opportunities this year. After seeing the strength of their product, I knew that I needed to be a part of the OneMind Team, “said Jose Luengo Azcona.



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. September 14, 2022 – Affluence Corporation (AFFU.PK) a leader in Smart City Software and Internet of Things (IoT) technology announced today it has selected Accell Audit and Compliance, PA as its audit and compliance partner.

“I am pleased to announce that Affluence Corporation is taking the next major step in our evolution and will become a fully reporting company,” said James E. Honan, Jr., CEO of Affluence Corporation.  “As we continue our historic growth it is essential that we provide our shareholders with transparency and an accurate picture of our operations.  Being an audited and fully reporting company provides us with multiple alternatives for growth moving forward,” said Honan.

“We interviewed several firms and Accell Audit and Compliance, PA is the right fit for Affluence as a growing company. The Tampa, Florida company is a licensed public accounting and consulting firm that provides services in niche areas of Audit and Assurance, Internal Audit/SOX 404 Consulting, Employee Benefit Plans and Tax Services.  During our due diligence process we were quite impressed with their client base which includes a number of emerging growth companies similar to Affluence, with several of those companies having gone on to trade on larger exchanges”, continued Honan.



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. September 8, 2022 – Affluence Corporation (AFFU.PK) a leader in Smart City Software and Internet of Things (IoT) technology announced today that OneMind Technologies and its Hypervisor product will be on display at the Intersec Saudi Arabia Conference to be held in Riyadh from September 13th to 15th.

“I am pleased to announce that next week September 13th through the 15th we’re in RICEC Riydah for Intersec Saudi Arabia invited as a technology partner by Dell Technologies (NYSE: DELL),” said Stephane Eyme, CEO of OneMind Technologies.  “We are extremely excited to be able to demonstrate how the OneMind IoT Hypervisor solution can help add value to intelligence systems and manage and prevent safety, security and digital city incidents.  Please stop by the Dell Technologies stand and meet our team,” said Eyme.

Intersec Saudi Arabia is a nexus for emergency services, security and the safety industry focusing on digital cities. The show will have a special focus on Commercial Security, Information Security, Homeland Security and Policing, Physical and Perimeter Security, Fire and Rescue and Safety and Health.  The conference presents the industry’s most comprehensive showcase to date as it brings together key government leaders, agencies and organizational heads with outstanding world-class speakers, innovative products and technology across all sectors.

 



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. August 18, 2022 – Affluence Corporation (AFFU.PK) a leader in Smart City Software and Internet of Things (IoT) technology released its earnings for the second quarter of 2022 with record revenue for the third straight quarter.  Highlights include:

  • Revenue growth of 511% year over year
  • Revenue growth of 12% in Q2 2022 from Q1 2022
  • The third consecutive quarter of positive net income

“I am pleased to announce our third consecutive quarter of record revenue,” said James E Honan, Jr., CEO of Affluence Corporation.  “I am extremely proud of our team and delighted to announce record revenue of $617,076 for the second quarter of 2022. Affluence’s continued growth has been fueled by multiple industry partnerships and a rapidly growing Smart City Software market with a 25% Compound Average Growth Rate (CAGR) and the Smart City market is expected to be $6 trillion by 2030.  Because of this we are very confident that this momentum will continue for the remainder of the year,” said Honan.

“The Affluence board of directors is thrilled with management’s performance against our internal goals and extremely optimistic with the long term outlook for the company,” said Dale Haase, Affluence Board Member.  “Operationally, in Q2 the company continued to execute on the delivery of Phase 1 of a multi-year, multi-million dollar contract for the largest Smart City project in the world where our Hypervisor product has been selected as the command and control software for the entire project.  In addition we have received a $1 million dollar contract from the large technology company that is responsible for technology integration for the entire project.  The contract is to add Artificial Intelligence (AI) for application specific modules for the project.  In Q2 we partnered with Corsight, a leader in facial recognition software.  Together, we developed an application to combat car-jackings and deter auto theft.  This is the first application of its kind and we expect to announce our first implementation in Q3. In addition, RAS our telecom engineering services business produced steady results as well.  Going forward, the board of directors is confident that the company will continue its growth for the remainder of 2022 and look forward to participating at a major Smart City Expo along side of one of the world’s largest technology companies where we will formally announce a reseller partnership with them and will leverage a sales force of approximately 3,000 reps to market and sell the joint solution,” said Haase.



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.