Affluence Corporation Second Quarter Update: Momentum Continues As Strategic Partners Ramp Up Sales Efforts

Rhea-AI Summary

Affluence Corporation (OTC PINK:AFFU) reported positive developments in its Q2 2022 update, highlighting increased sales efforts in new markets via strategic partnerships. CEO James E. Honan, Jr. noted the expansion of their sales funnel with opportunities in the US, Europe, and the Middle East. The company is progressing on the largest smart city project in the Middle East, with Phase 2 set to begin soon. Operationally, their subsidiary, OneMind Technology, continues to be a growth driver, while RAS Engineering maintains steady results. Q3 goals include hiring more sales personnel and delivering on ongoing projects.

Positive

• Increased sales efforts in new verticals through strategic partnerships.
• Expansion of sales funnel with opportunities in multiple regions including the US, Europe, and the Middle East.
• Progress on the world's largest smart city project in the Middle East, with Phase 1 completion and Phase 2 commencement soon.
• Operational growth driven by OneMind Technology's developments.

Negative

• None.

OAK BROOK, IL / ACCESSWIRE / June 15, 2022 / Affluence Corporation (OTC PINK:AFFU) a leader in Smart City Software and Internet of Things (IoT) technology today gave an update on its Second Quarter 2022 progress which is highlighted by increased sales efforts into new verticals through strategic sales partners.

"I am very pleased with how the company has followed up on last quarter's record revenue and profit and we are making impressive progress in developing new business opportunities in expanded geographies and in new vertical markets," said James E Honan, Jr., CEO of Affluence Corporation. " I am very optimistic for the future as our sales funnel has expanded significantly with several opportunities in the US, Europe and the Middle East. Additionally due to the flexible architecture of our product we are seeing several opportunities in airports, hospitals and universities and in new verticals such as Security Solutions . We made significant progress in our partnership program this quarter. Our largest technology partner has built a dedicated Smart City Software group specifically to sell a co-branded solution using the OneMind product as its core. We will be announcing a partnership with one of the most significant technology firms in the Middle East to white label our product. We have signed a partnership with a US distributor that has taken the OneMind product into multiple sales opportunities," said Honan.

"Operationally, our wholly owned subsidiary OneMind Technology's achievements continue to be our catalyst for growth. We are continuing to execute on the delivery on Phase 1 of the world's largest smart city project in the Middle East and will begin Phase 2 in the later part of this year. The successful early results from the smart city project in Quang Ninh Province in Viet Nam has led to an increase in scope of the project," continued Honan. " In addition, RAS our telecom engineering services business continued to produce steady results as well.

"Our Q3 goals include to increase the number of sales and delivery personnel in order to take advantage of the growing number of sales opportunities that are a result of our strategic partner program. We will also finish the delivery of Phase 1 of the Middle East Smart City Project and begin delivery of Phase 2 in late Q3, announce new technology and distribution partnerships, continue to look for multiple acquisitions and to finish our audit in order to become fully reporting," said Honan.

About Affluence Corporation

Affluence Corporation (AFFU.PK) is a diversified technology company focused on smart city software and innovative cloud 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. For more information go to https://affucorp.com

About OneMind Technologies SL

OneMind Technologies SL is a wholly owned subsidiary of Affluence Corporation. 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

About RAS Engineering

RAS Engineering is a wholly owned subsidiary of Affluence Corporation and is a telecom infrastructure engineering and design services organization. RAS Engineering provides the design work critical to 5G telecom construction projects. Service offerings include code compliance, forensic engineering and implementation and maintenance of telecom projects. RAS Engineering holds patents for technologies essential to improving 5G network performance.

For further information contact Affluence Corporation Investor Relations at 720-295-6409.

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

View source version on accesswire.com:
https://www.accesswire.com/705189/Affluence-Corporation-Second-Quarter-Update-Momentum-Continues-As-Strategic-Partners-Ramp-Up-Sales-Efforts

FAQ

What is the latest update from Affluence Corporation regarding its financial performance?

Affluence Corporation's recent Q2 2022 update highlights increased sales efforts and the expansion of its sales funnel, indicating positive momentum in financial performance.

What are the key projects Affluence Corporation is working on?

Affluence Corporation is focused on the world's largest smart city project in the Middle East and expanding its OneMind product's reach through various partnerships.

How is Affluence Corporation expanding its market presence?

The company is expanding its market presence by increasing sales efforts in new verticals and regions, including the US, Europe, and the Middle East, through strategic partners.

What are Affluence Corporation's goals for Q3 2022?

For Q3 2022, Affluence Corporation aims to increase personnel for sales, complete Phase 1 of its smart city project, and begin Phase 2 while forming new partnerships.