OAK BROOK, IL / ACCESSWIRE / October 5, 2021 / Affluence Corporation (OTC PINK:AFFU), a diversified technology company focusing on innovative Smart Cities, IoT and 5G enhancing technologies announced today that the company has signed a “Letter of Intent” to acquire Saamarthya Management Consultancy P Ltd, India enabling entry into the exploding $7.6 Billion Biomedical space with an innovative IoT solution. Saamarthya is a premier organization operating as an accelerator supporting multiple start-ups and owns the intellectual property rights or exclusive distribution rights to multiple businesses that have developed leading edge technologies in the IoT space. This acquisition enhances Affluence’s commitment to building a world class IoT and 5G company.

“The acquisition of Saamarthya will enable us to continue to build on our strategy of developing a strong portfolio of products and value-added services in the IoT space that are aligned with business opportunities arising due to increasing adoption of IoT solutions in global markets,” said James E. Honan, Jr., Affluence’s Global CEO. “The initial technology that we will bring to market is an IoT based Biomedical Waste Management and Bar Code solution that employs multiple IoT Technologies including an ERP solution which is deployed to control and monitor of end-to-end management and collection of transportation, treatment, and disposal of biomedical waste generated at Healthcare Establishments (HCE) such as hospitals, polyclinics and labs. This solution is already implemented in 10 of the 275 operators in India covering more than 40,000 HCE’s and efficiently manages the entire cycle of collection, transportation, treatment, and disposal of biomedical waste. Our pro-forma revenue estimates for next year based on our current installed base is approximately $3 million. Further discussions are underway for implementation with the remaining operators across India and we are forecasting penetration into 100 of the 275 operators in India by the end of 2022 as well as in other geographies,” said Honan.

“The global biomedical waste management market is growing at a CAGR of 5.8% per year and will be $12.8 billion by 2030,” said Avinash Bector, President & CEO, Affluence Corp for Asia & Africa markets. “Government agencies throughout the globe are issuing new mandates for biomedical waste management. This IoT solution is a ground breaking technological approach which is unlike anything currently on the market and is already in use and gaining more acceptance everyday. In addition to the biomedical waste management solution, we are very excited about the other IoT solutions that Saamarthya brings which address other large market segments and we plan to roll out more of them by the end of 2021,” said Bector.



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 Affluence Corporation Investor Relations at 720-295-6409.

OAK BROOK, IL / ACCESSWIRE / September 23, 2021 / Affluence Corporation (OTC PINK:AFFU), a diversified technology company focusing on innovative IoT and 5G enhancing technologies announced today that it has received and has executed a funding term sheet which includes the formation of a joint venture with a large European Investment Fund. The first tranche of term sheet is for up to $40 million dollars in funding which will be utilized to deliver infrastructure, software products and value-added services for multiple large-scale projects in Asia.

“This Term Sheet is the culmination of an extensive effort by our entire management team around the globe,” said James E. Honan, Jr., Affluence’s CEO. “This first tranche of funding from the term sheet that will enable the joint venture to deliver on several very high-profile contract awards which we will be announcing within the coming weeks. Of special note, the structure and formation of the joint venture with our funding partner will not result in our shareholder base experiencing any dilution from the $40 million in funding nor from any subsequent funding tranches. Affluence expects the funding to close early in the fourth quarter upon completion of due diligence and definitive legal documents. Implementation of the projects will begin in the same timeframe. We expect to start reporting revenue from these projects this year and report significant revenue in subsequent years thereafter. We will provide specific revenue guidance as we announce the contracts to the market,” said Honan.

“This funding will establish Affluence Corporation as one of the leaders in Smart City Solutions, IoT, Optical Fiber and 5G technologies in Asia,” said Avinash Bector President and CEO of Affluence for Asia and Africa. “The initiatives that we will be working on will transform the local infrastructures and will enable rapid adoption of Smart City Solutions, IoT and 5G technologies. We have several similar large opportunities in our pipeline in multiple Asian geographies for technology, professional services and infrastructure that we will be closing in due course”, said Bector.



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 Affluence Corporation Investor Relations at +1 720-295-6409.