Affluence Corp (PK) (AFFU) News

I'm in the same boat. Here since Nov 21 and down a measley 91% 

I hear ya. Hard to get excited about anything here these days. How goes the battle ?

Merry Xmas OS! Let's hope this one actually goes through  

The next acquisition after MTi may be….
I am calling it now…..
Any company that Francesc Domingo may have a connection to or owns part of…..

How did anyone know for certain a strategic partnership was about to be an acquisition. Possible sure but if anyone already knew they were sure quiet about it. Jim could have overextended acquiring some other company. I'm relieved it's MTi if I'm being honest. Any other company would have been likely as not a dilution death knell.

I hunch I already know the next acquisition, but I'm not counting my chickens before they're hatched. No point, let's see how we look with the newest one first. It takes time for everything to gell. I'm not expecting any run here but this is extremely good news. It heralds a parade of good news but that all takes time to digest. I keep asking myself, is AFFU a holding company or what. Startled Jim is cash positive, we need to see some filings, probably in new year.

They LIST MTi 1-50 employees, I counted 17 staff in MTi's Linked In photo. If that's all there is I'm not expecting devastating dilution, like some here are thinking out loud. Gotta congratulate you OS. You called this merger almost as soon you found it. Nice work, MTi has put us in the big leagues for contracts. I read they expect to be cash positive very shortly as well (if not already) . That MTi Dubai office about to get busy IMO. 💰💰💸💸

Jim surprised me, this is indeed a nice Christmas present. I find it very positive news. Sure we need time to mesh company wise, digest financially speaking. If AFFU is going to be cash positive I'm anticipating dilution will be reasonable. This has been a long term hold from the get go. Seems like we're in great shape. 👍

Great timing release news at 3:00 the day before Xmas eve

I bought a few, what the heck. Breaks up the monotony of my large caps. Happy holidays to all. 🍷

The news came out then because Jim has no say so in when anything will happen.. I said this a few days ago... Jim is simply a Figure Head here now... Control of the company is in the hands of Michael Ball-Sackin My relationship with Jim has ended, he no longer can speak with me or I would assume anyone else for that matter... Between the Quantum success I had and the lack of conversation with the management dumping was a logical choice. We will keep in touch my friend thru other means. Happy Holidays OS... talk soon

Take care Risk, I will keep in touch and hopefully the new year is the Year Of AFFU

Hey George, thank you... but to be honest I like others made some very nice profit on the sudden run on Quantum stocks... had I not had that happen I would be holding tight here... Best to you and your family and as I said I will be keeping an eye on this...but not posting much as an observer I think my trap being shut is the best way to play it.... Bless you and your family

LinkedIn updated: Affluence
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Affluence Corporation has reached an agreement to acquire MTi - Mingothings international, a specialist in integrated #loT solutions and data analytics for #smartcities and connected industries.
The first step in our planned acquisition strategy to strengthen OneMindNG and expand market reach.
https://bit.ly/3DnPE9t
Affluence Corporation to Acquire Mingothings SLU - Affluence Corporation
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This is starting to snowball.

"This is the first step in our planned acquisition strategy to grow Affluence.

That almost certainly paves the way for MGi's CEO Francesco Domingo to join the B.O.D. @AFFU ✔️

This is very odd that news comes out in mid day.
This news is nothing new.
Many of us have always thought Mingothings was a target acquisition.
I believe it never got done sooner because maybe Mingothings wanted to see Affluence Corp clear off some or most debt and the only way to get that done was to issue shares. In doing that AFFU price has gone down dirt cheap. Now Mingothings would get a lot more shares and have a larger control of Affluence Corp.

This news had no effect because it only matters when an acquisition is completed and really completed with no unwinding done in the future.

I have not sold. My tax loss would be to large to make a difference.

I will say i welcome Francesc Domingo, CEO of MTI into Affluence Corp and i hope he takes control of AFFU and really get us noticed.

Dang TJ. That's quite the write off. 
Merry Christmas and well wishes for the new year. 

I'm looking forward to seeing the PR's headed our way. Interesting MTi works in Dubai has an office there. Hmmm what a coincidence ✔️

Hate to say crap management. Not excited about anything they put out now. I going to hold on to my shares and will exit as soon I am break even. This will be a dilution machine 

I agree. I am just holding on to my shares for the long run and hoping it will bring some gains in the future. I have enough losses for the past three years and for me doesn't give me any benefits of creating more losses and also it does not make sense for me to sell at almost 90% loss.
Wishing you and your family peace, happiness and good health and all the best for a wonderful Merry Christmas and Happy New Year. Be safe and God bless us all.

Good news... although I am pretty sure everyone new it was coming... would have liked to see some updated info on where they stand with the dilution and perhaps some explanation as to why it all happened to begin with.

I also have sold... going to take the loss and use it on my taxes... although I can only use $3,000 per year... and since the PR says they will complete the merger by the end of the first quarter that will more than give me enough time to let the 30 days with out rebuying to get back in if it looks like there is going to be sufficient reason to do so.

Good Luck everyone and please all of you have a wonderful Christmas and a Happy New Year... I will keep an eye out here and maybe they will add some additional news that will move this.

TJG over and OUT

https://www.otcmarkets.com/stock/AFFU/news/Affluence-Corporation-to-Acquire-Mingothings-SLU?id=463183

China steals $500,000,000,000 in US intellectual property a year.

If anyone doesn't think Internet security is important. They need there head read. I find the reference to diversity interesting, thanks. Be well OS you were lucky.

I dont think that is what I was saying.... but if you took it that way, so be it... my point was that OS PB and I have all posted several times that the Accounts Receivable is where the revenue was and is sitting... I was pointing out that stating the revenue just dissapeard like you posted was not accurate and for anyone who read what you posted thought it was they needed to know that its still there if you read the filings. and understand them... what was idiotic was to say I was calling you an idiot. I think for what ever reasons you take everything said as an attack on you personally. Good Luck to you Golf I think you need to calm down a bit. Have some Eggnog

At least Mingothings is respectful
They at least post, but not OneMindNG or Affluence Corp

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• Happy Holidays from all of us at Mingothings
International! 4
As the year comes to a close, we celebrate the diversity that drives innovation, connection, and progress in everything we do. Whether you're celebrating Christmas, Hanukkah, Kwanzaa, or just enjoying the season of giving and gratitude, we hope your holidays are filled with joy, warmth, and community.
Thank you - to our clients, partners, and team - for a fantastic year and being a part of our journey this year. Let's make the next one even brighter! +
Here's to building an even more inclusive and innovative future in the New Year!
#mti #mingothings #HappyHolidays #InclusiveCelebration #Innovation #TechTogether

Of course I am still here. I'm sorry for sounding like an uninformed idiot regarding the financials. I'll try to learn more about this stuff before speaking. 
Merry Christmas!

Have a great Christmas OS and we all hope your doing better after taking on that SUV..... I am like you.. I used to average 15+ posts a day here now maybe 3 or 4. Just not much to talk about...all we can do is wait on the silent company to break their silence and give us some updates...

Happy Holidays to everyone out there.

Yes we are in on the long haul, at least i am.
I just don’t post much anywhere anymore but i am still reading, bleeding 🩸
I agree AFFU subsidiary OneMind very much could surprise in April’s filing. By then they could be debt free with more outstanding shares too


Short day in the markets today


Some of the NASDAQ stocks shot up at 4am
R A P T
R E L I
T R A W
But I don’t own them and it is risky to trade them

If your wondering how I come up with the revenue numbers in my previous post just follow these steps.
1. Go to the OTC AFFU web page, click on Disclosures and then open each quarter for 2023.
2. Look at the Revenue for each quarter, you will see that one of the quarters has very little revenue but does have significant dollars listed on the Accounts Receivable line
3. Add the quarterly revenues together and then add the Accounts Receivable Line in with it and you will see that those totals equals the Annual Reports 2023 year end revenue.

If you do the same thing with the 2024 Quarterly reports you can add the revenue and the Account Receivable billings and you will see what the total revenue for this years is. OneMindNG is a company that relies on 90 day billing cycles and they do not list receivables under the revenue line on the financial report. But they do balance out the books when the Annual Report is filed. So the idea that they have suddenly dropped all of the previous years gains is not true...We will, if your still holding this and care that is, have to wait for the Annual Report to see exactly how much they made. It will be filed in April of 2025 just like it always is.

Perfectly logical and pertinent question Golf 💯

.but on the other hand why the major decline in revenue the past 3 quarters???

Elementary Watson, but let's not sweep that under the rug quite so shrugly. Can you think of anything in the way of procurement this year, that cannot be disclosed in 2024 but needed* to wait? 🤔🤥

That's how I knew they weren't about to close on an acquisition this year with so much riding in the balance. They rushed into Durham Black and look what happened and with the very best of intentions? Jim knew they were shooting for the stars with Patrick. They knew that a contingency plan was not just a good idea, nnnnnoooo sir, it was a prerequisite. (and good business acumen)

In April of 2025 they Annual report will be filed. In that report you will see that the total revenue for 2024 will exceed $2.2million for the year. Total revenue for 2023 was ?1.99 million. 2024 will exceed 2023 according to the last 3 quarter filings For the first 3 quarters they have $1.7 million in revenue. Mark this post and you can bring it back up to see if I am right. It's been explained here before and if a person knows how to read a financial filing they can see it. 

But you are right no sense rehashing it. If a person can't see it by December then they won't see it or believe it until the annual report is filed. 

Hello darkness my old friend...

Thank you golf, I did finally look in the correct place. Dell tech even Stated Onemind tech is the preferred hypervisor for smart city applications. That should still be a Plus, what about the income from Dell through a partnership.?

OneMind is still listed on the Dell Edge Partner website. I didn't imply they're out of business. I just meant it more than appears there's been a change of some sort. 

Does affluence corp/Onemind tech still have a partnership with Dell tech to use their hypervisor for their digital city software.?

Rich, I'm not saying there's a company OneMind problem per se. 
FY2021 total revenue $935K
FY 2022 total revenue just under $1.5 million,
FY2023 on last years annual report stated just under $2 million in total revenue. 
So far this year 2024 from the 3 quarterly reports filed total combined revene is about $388K. So something fundamental changes this year. 
The substantial revenue growth percentage for the first 3 years I mentioned is why I kept on buying over the past 3 years even though the share price kept going down. I thought they were a growing and expanding company with a bright future potential. I understand the dilution isn't because of OneMind but on the other hand why the major decline in revenue the past 3 quarters??? It has nothing to do with the Durham Black-Patrick Shutt-Merger Unwind quagmire in my opinion. It's water under the bridge and a moot point now and I'm not looking to rehash the past but I'm not surprised if Patrick couldn't obtain the $22 million in funding because potential investors he sought didn't like what they saw perhaps versus Patrick be unskilled in attracting investment. Nothing really matters anymore anyways. 
Enjoy your weekend. Good luck with tennis. 
No golf, 25 degrees here with 6" of snow yesterday. Take care 

Pink you're not* incorrect! Thx4 the question. You're close as damn it. In trader's terms I doubt you could be any closer.

What I was talking about (in an extremely sleep deprived state) is pretty much an annual trading phenomenon. So to better answer your question in financial circles lingo. I consulted AI for more facts...

Meta in trading stocks, every year typically December 22nd, the market (without a Santa Rally) will slowly but surely go comatose in volume. What is the cause of this perceived tug of war between buying and selling.

The phenomenon you're describing is often referred to as the "Holiday Trading Slump" or "Year-End Trading Lull." Several factors contribute to this decrease in market activity and volume:

# 1. Institutional Investors' Holiday Break
Many institutional investors, such as hedge funds and mutual funds, typically close their books for the year around December 15th to 20th. This means they're less active in the market, leading to reduced trading volume.

# 2. Tax-Loss Harvesting Completion
By mid-December, many investors have already completed their tax-loss harvesting strategies, which involve selling losing positions to offset gains. This can lead to a decrease in trading activity as investors await the new year.

# 3. Year-End Portfolio Rebalancing
Investors often rebalance their portfolios at year-end to maintain their target asset allocations. This can result in some buying and selling, but the net effect is often a decrease in overall market activity.

# 4. Holiday Season and Reduced Market Participation
The holiday season typically sees a decrease in market participation as traders and investors take time off. This reduced participation can lead to lower trading volumes and a sense of market complacency.

# 5. Quadruple Witching and Options Expiration
The third Friday of December marks the Quadruple Witching, where stock options, index options, futures, and options on futures all expire. This event can lead to increased volatility and trading activity on that specific day, but it can also contribute to a decrease in market activity in the following days.

# 6. Market Sentiment and Psychological Factors
Investors' sentiment and psychological factors can also play a role in the Holiday Trading Slump. Some investors might be hesitant to take on new positions or make significant changes to their portfolios before the year-end, leading to a decrease in market activity.

While the Santa Rally can sometimes occur during this period, the combination of these factors can lead to a decrease in market activity and trading volume, resulting in the perceived tug of war between buying and selling.

True that, but we do know we're being hedged like hell.

So I'm anticipating AFFU newbs will come to there senses over the weekend realizing there's absolutely no rational reason to be feeding anyone there shares. Could be wrong, I haven't taken a good look at next week's market hours yet TBH, so you're quite correct. I was wrong once. It was 1896 and I was out for a hike in the Klondike 🤥

Oh ok thank you, you're most welcome.

Merry Christmas🎄

High volume was corporate, think of all those shares OTCN sold to insiders like Maple Leaf Capital. Corporate hedge funds BOT trade, it isn't manual from MM's, it's all handled by computers which can influence market mentality. So it can be prolificly high volume, yet closed very quickly at the same time because it's mostly in one direction.

OK slow down, can you tell me what kind of company problem please. I wasn't aware there were any. I did read a lot of schizoid depression. The sky is falling, Jim has screwed everyone. Have you heard of a specific company problem that's understandable, equatable, rational?

Believe you me, if it's the company I spotted, it's the nicest problem to have. But AFFU will need time trading to digest the acquisition like any other merger. Problems are guaranteed to need solving how best to mesh the two companies advantageously. What you heard was waves of speculative emotion, the fear of the unknown. There was nothing that rationally verified "the problem". Other than the fact lemmings do jump off cliffs. 🤦

I don't need to tell you about trading on emotion, but you must separate the facts, from the "this can't be happening" worry that's consumed most everyone, the last few very seasonally skewed days. You are correct we don't KNOW there's a problem with the acquisition, other than that voice in there head. Unless there's a Santa Rally which happens because of the general confidence in the market... not the stock per se. If Santa Rally doesn't ensue, the overall movement is majority of stocks temporarily* retract. Then there's a surge of new year optimism as many who sold for write-offs buy back into the market providing liquidity.

What...you want an opinion from little ole me...I think if you can get 5s you will be lucky...and if you can get 4s you will be real lucky...so you might try and settle for 6s and be glad on what seems should be an upcoming reversal to some degree anyway.
But how low will she go?

I was already thinking hard of doubling up on my position....you have me thinking a little harder now.

Now I know you don't know that 100%...but it sure sounds 90% logically right...LOL...great post man.

Hey Richie, I must ask though...why do you say Dec 22nd as the deadline...why not Dec 31, is it because the next two weeks with closed/limited market hours and a lower volume of traders for the Holidays basically making it best to sell before then?...because I am thinking that the actual deadline set by the IRS is December 31st.
It means personal or corporate accounts were writing off AFFU for there own betterment. December 22nd was the deadline so they took whatever they were handed. It's tax time when nothing should be taken too seriously. Humongous conflict of interest with rational trading. The guys that sold did so because they made too much money this year. The steeper there loss the more they can write off. That's the downward pressure you're grappling with.

Does that make sense? Watch the trading Monday, there should be a rally just as mystefying.

I forgot to tell you. I appreciate your info.

But how low will she go?

That's what I was thinking but I did want other opinions. I've never noticed that high of volume on a stock falling even when it's having problems notice it when going way up on good news. But do we know yet there are Problems for sure.? And I don't know if it could help a corporation's income tax somehow.??

Well said, accurate yet Monday may be a bit early yet a couple day’s after Christmas sounds like a good possibility. IB’s start looking for deals then, if only they could or would look down here. Sadly they don’t.

It means personal or corporate accounts were writing off AFFU for there own betterment. December 22nd was the deadline so they took whatever they were handed. It's tax time when nothing should be taken too seriously. Humongous conflict of interest with rational trading. The guys that sold did so because they made too much money this year. The steeper there loss the more they can write off. That's the downward pressure you're grappling with.

Does that make sense? Watch the trading Monday, there should be a rally just as mystefying.

Same to you my friend. 🎄🎅🙏

I don't know what that means but affu traded 93.3 million shares at a pretty even level .5s - 6s.??

It's Christmas time and all are seasonally fickle.

At this point it is speculation, and IMO should not be mentioned, It makes a lot of investors heads spin and scared. and I don't blame them, Me included . Could be a good time to buy OR not. RISK reward.