Category: Uncategorized

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.

 

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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.

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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.

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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 13^th to 15^th.

“I am pleased to announce that next week September 13^th 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.

 

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