Affluence Corporation Provides Business Update
Affluence Corporation (OTC PINK:AFFU) provided a business update highlighting progress in key initiatives. The company is nearing the conclusion of a memorandum of understanding with a major Asian telecom to build last-mile fiber infrastructure. Additionally, they are negotiating acquisitions of two technology firms to enhance their service offerings. Affluence's subsidiary, OneMind Technologies, is set to support a significant Smart City project, with an announcement expected in July 2021. The company is focused on innovative IoT and 5G technologies.
- Progress on MOU with a major telecom company in Asia for fiber technology-based infrastructure.
- Negotiations for acquiring two technology companies to enhance service offerings.
- OneMind Technologies involved in a large Smart City project with an announcement expected soon.
- COVID outbreak in Asia has delayed the execution of the MOU and subsequent contracts.
OAK BROOK, IL / ACCESSWIRE / July 6, 2021 / Affluence Corporation (OTC PINK:AFFU), a diversified technology company focusing on innovative IoT and 5G enhancing technologies provided a business update and an update for the initiatives previously announced and reiterated its strategy moving forward. The update includes a statement on the progress being made on closing two large opportunities one through its subsidiary ISLP Technologies and the other with its subsidiary OneMind Technologies. The business update includes comments on potential target companies and businesses for acquisition and partnerships.
"We are making steady progress with executing on all fronts," said James E. Honan, Jr., Affluence's CEO. "ISLP is currently awaiting the executed MOU for an engagement with one of the largest telecom companies in Asia. Under this engagement, we will build ‘fiber technology-based last mile infrastructure' and deliver technology products and services through an ‘Aggregation Platform' to the existing and new subscribers of the said telecom company. The COVID outbreak in Asia has delayed the final execution of the MOU and subsequent contracts but we anticipate to have them completed and begin work against the contract this quarter. In addition, we are in negotiations to acquire two technology companies with unique offerings to strengthen our portfolio of solutions and services with leading-edge technologies for the above project and expect to announce LOI's in the third quarter as well," said Honan.
"OneMind Technologies has been selected to provide its Smart City solutions platform for one of the world's largest Smart City projects. "The OneMind Smart City platform will be the solution behind managing this large deployment that is being delivered by one of the major integration firms in the world and one of the world's largest technology providers. We expect the official announcement to come in July 2021. The OneMind product will also be included as a value-added service for the Asia fiber opportunity " said Honan.
About Affluence Corporation
Affluence Corporation (AFFU.PK) is a diversified technology company focused on innovative software solutions that capitalize on IoT, AI and 5G technologies. We are investing in mid-market businesses to create a cohesive unit which brings together technology for the next generation of internet. https://affucorp.com
About ISLP Technologies
ISLP is a diversified technology company focused on telecom services and technologies. ISLP is one of the many success stories from the Indian Institute of Technology (IIT) Incubator in Delhi. ISLP builds customized digital solutions utilizing cutting edge technologies such as block chain, AI, Machine Learning, Business Intelligence and Data Science.
About OneMind Technologies SL
OneMind Technologies SL develops and markets Situational Awareness and Smart City software solutions. The OneMind Intelligent IoT solution builder is used to create applications for smart construction and smart city operations. Functioning as systems of systems, OneMind connects data sources to one single point of insight to provide real-time information on operational processes. It is a key component in the enterprise solutions currently being offered by several Fortune 50 companies that resell, distribute, and integrate smart city enterprise solutions. The OneMind Smart City solution is deployed in Barcelona, San Francisco, Guadalajara, Oslo and many other cities throughout the world. For more information go to https://www.onemindtechnologies.com
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.
SOURCE: Affluence Corporation
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