Affluence Stock Price, News & Analysis

Affluence Corporation (AFFU.PK) reported substantial financial growth in its Q1 2022 earnings, marking the second consecutive quarter of record performance. Revenue surged by 363% year-over-year and 27% from Q4 2021, reaching $550,600. The company achieved its highest net income, with earnings of $170,604, reflecting an increase of 490% over the previous quarter. This momentum is driven primarily by the success of its subsidiary, OneMind Technologies, in the smart city software sector, indicating strong future potential.

Affluence Corporation (AFFU.PK) announced significant progress in its first-quarter projects through its subsidiary OneMind Technologies. The company completed the Department of Tourism Project in Quang Ninh Province, Vietnam, enhancing its position for further contracts in the country. Additionally, OneMind is advancing in Phase 1 of a major Smart City Project in the Middle East, with expectations to move to Phase 2 later this year. The OneMind platform has expanded its data collection area to 2,356 square miles, showcasing its advanced capabilities in tourism management.

Affluence Corporation (AFFU) reported record earnings for FY 2021 and Q4, demonstrating strong financial growth and operational success. The company achieved a 363% year-over-year revenue increase, with full-year revenue reaching $935,000 compared to $202,000 in 2020. Q4 revenue surged by 93% from Q3 2021, totaling $435,000, marking its first positive EBITDA quarter. Strategic contracts and partnerships position Affluence for continued growth in the Smart City and IoT sectors in 2022.

Affluence Corporation (OTC PINK: AFFU) announced the launch of its enhanced hypervisor platform, OneMind New Generation (NG), aimed at revolutionizing the Smart City Software market. This multi-tenant platform is designed for deployment in cloud, on-premises, or hybrid environments, featuring a low-code ETL engine and customizable user interfaces. With advanced capabilities like modular architecture and scalable nodes, OneMind NG seeks to drive exponential growth in the SaaS sector. CEO Stephane Eyme emphasized the platform's potential to improve client value and decision-making processes.

Affluence Corporation (OTC PINK: AFFU) announced that its subsidiary, OneMind Technologies, secured a significant contract to provide command and control solutions for a major smart city project in the Middle East. The contract, which spans multiple years and phases, is expected to generate $5 million in revenue in 2022 from its initial phases. This partnership enhances Affluence's position in the smart city software market, leveraging their Hypervision product. The project commenced in Q4 2021 with further developments planned in Q3 2022.

Affluence Corporation (OTC PINK:AFFU), a diversified technology firm, announced a Letter of Intent to acquire SiteWhere, LLC, enhancing its IoT and 5G capabilities.

CEO James E. Honan highlighted the acquisition's strategic value and potential new revenue streams, with SiteWhere's SaaS business model poised to increase market opportunities. SiteWhere's flagship product, Enterprise Orchestrator, will be integrated into Affluence’s product development, aiming for innovative smart solutions that align with evolving IoT trends.

Affluence Corporation (AFFU.PK) has appointed Mark D. Moyer as Chief Financial Officer, effective January 1, 2022. Moyer brings extensive experience from previous roles at publicly listed technology firms and will lead the company's initiative to become a fully reporting entity. This effort aims to enhance financial transparency and pave the way for potential listings on other exchanges, promising greater value for shareholders. CEO James E. Honan, Jr. emphasized Moyer's strategic vision and the importance of this transition for Affluence's growth.

Affluence Corporation (OTC PINK: AFFU) has announced a significant contract won by its subsidiary, OneMind Technologies, with the Department of Tourism of Quang Ninh Province, Vietnam. This contract involves the implementation of an IoT solution to enhance tourism management through real-time data integration. The CEO, James E. Honan, highlighted this as the second major agreement secured this quarter, emphasizing the growing global demand for Smart City Software and IoT technologies. Revenue recognition from this contract is expected in Q4 2021 and Q1 2022.