The PennZone

CHICAGO - PennZone -- Diversified Global Technology Company Focused on Smart City and Industry Software and Innovative Solutions.

Providing AI-Enabled IoT, 5G, and Data Visualization Platforms to Enterprise and Municipal Clients Worldwide.

Objective to Build a Scalable Operating Platform with Improved Capital Structure and a Disciplined Strategy for Long-Term Growth.

Acquisition of Mingothings (MTi) Providing AFFU with an Established IoT Platform, Recurring Enterprise Customers and a Growing International Footprint.

Capabilities in Enterprise Security, Intelligent Video Analytics, Software Development, Access Control and Integrated Hardware Solutions.

Mingothings MTi Subsidiary Reports Strong Results, Highlighting 5.6 Million EUR in Project Awards.

IoT Operations of Mingothings and Marina Eye-Cam have Potential to Generate $10 Million in 2026 Revenue with Expected EBITDA of Well Over $1.5 Million.

Working to Eliminate Significant Portion of Convertible Debt while Replacing Legacy Convertible Instruments with Long-Term Preferred Securities.

Affluence Corporation (Stock Symbol: AFFU) is a diversified technology company focused on smart city, industrial IoT, and data-driven infrastructure solutions. Through its operating subsidiaries, including Mingothings, AFFU delivers AI-enabled IoT platforms, data visualization, and intelligent infrastructure technologies to enterprise, industrial, and municipal clients worldwide.

AFFU owned Mingothings SLU ("MTi") is a specialist in integrated IoT solutions and data analytics for smart cities and connected industries. MTi provides real-time data platforms and consulting services to municipalities and large enterprises.

AFFU Subsidiary MTi Reports Strong Results, Highlighting 5.6 Million EUR in Project Awards

On August 6^th AFFU subsidiary Mingothings SLU ("MTi") reported strong results for the first quarter of 2026, reinforcing its position as a technology partner in IoT, smart infrastructure, connected industries, and digital transformation. During Q1 2026, AFFU MTi was awarded approximately EUR 5.6 million in new projects, reflecting solid commercial performance and continued demand for its integrated technology solutions across strategic sectors.

AFFU MTi's Q1 results highlight the company's ability to convert market opportunities into high-value projects while continuing to expand its capabilities in IoT platforms, systems integration, real-time monitoring, digital twin technologies, and data-driven operational solutions.

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AFFU MTi's activity reflects the growing need for connected infrastructure, intelligent asset management, and secure digital transformation solutions across public and private-sector environments. As organizations increasingly seek to modernize operations and improve decision-making through real-time data, AFFU MTi continues to position itself as a partner for complex technology deployments.

In addition to its Q1 performance, AFFU MTi continued to strengthen its international positioning and technology offering during the quarter, with ongoing work in IoT, AI, digital twins, and real-time data analytics aimed at driving measurable improvements in performance, efficiency, and sustainability for its clients.

Looking ahead, AFFU MTi is focused on building on its strong Q1 results and continuing to strengthen its project pipeline throughout the remainder of 2026, with a growing portfolio across smart infrastructure, industrial IoT, mobility, energy efficiency, and connected industry solutions.

Shareholder Letter Highlighting First Year of Corporate Transformation and the Company's Next Phase of Strategic Growth

On July 8^th AFFU issued a shareholder letter from Company President Oscar Brito, reflecting on the Company's reorganization following the appointment of new management. The letter contained the following commentary:

Over the past year, AFFU has undergone one of the most significant transformations in its history. Efforts have been centered on a clear objective: to build a stronger company with a scalable operating platform, an improved capital structure, and a disciplined strategy for long-term growth.

The long-term vision is to build AFFU into a diversified technology company focused on Smart Cities, Industrial IoT, AI-enabled infrastructure, enterprise software, and intelligent infrastructure solutions. The acquisition of Mingothings established the cornerstone of this strategy by providing AFFU with an established IoT platform, recurring enterprise customers, and a growing international footprint.

Mingothings completed the acquisition of Marina Eye-Cam Technologies S.L., expanding AFFU capabilities in enterprise security, intelligent video analytics, software development, access control, and integrated hardware solutions. This strengthens AFFU ability to deliver increasingly comprehensive technology solutions while creating opportunities for commercial collaboration and cross-selling across its customer base.

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AFFU currently projects that its IoT operations, including Mingothings and Marina Eye-Cam, have the potential to generate approximately $10 million in revenue during 2026, with expected EBITDA of well over $1.5 million.

AFFU management believes the Industrial IoT, Smart Infrastructure, AI, and enterprise software sectors continue to present an attractive landscape for disciplined consolidation. Across Europe and the United States, AFFU is identifying an increasing number of well-managed technology companies with proven products, recurring customer relationships, experienced management teams, and attractive operating characteristics. AFFU continues to evaluate acquisition opportunities that could meaningfully expand the Company's scale.

AFFU is also working on restructuring to eliminate a significant portion of the Company's outstanding convertible debt while replacing legacy convertible instruments with long-term preferred securities. Importantly, the structure under discussion is also intended to eliminate deeply discounted conversion mechanisms and other highly dilutive features associated with certain historical financing instruments. AFFU management believes this restructuring has the potential to materially reduce future dilution, improve the balance sheet, lower effective cost of capital, and better align long-term capital partners with the Company's strategic objectives.

AFFU views a future national securities exchange listing as the intended culmination of the first phase of its transformation. This goal represents an important milestone that could provide broader access to institutional investors, improved market visibility, enhanced liquidity, and potentially lower-cost growth capital.

AFFU priorities for the balance of 2026 include:

Continue executing the balance sheet restructuring.

Complete the integration and commercial expansion of Mingothings and Marina Eye-Cam.

Advance strategic acquisition opportunities that meet our financial and operational criteria.

Increase recurring revenue and operating profitability.

Improve access to growth capital.

Continue positioning AFFU to pursue a future national securities exchange listing.

For more information on $AFFU visit: https://affucorp.com and https://www.mingothings.com

Media Contact:
Company Name: Affluence Corporation (Symbol: AFFU)
Contact: Oscar Brito, President
Email:  press@affucorp.com or info@affucorp.com
Phone: +1 720-295-6402
Country: United States

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