Affluence Corp (AFFUD)

[powerbattles]

Of course, there's more to the story behind closed doors. James E. Honam's motivation is easy to spot. Let's not forget that he is no longer on the board of directors, and his role as CEO could just be a temporary, interim position. If and when the company announces a merger, he might have no further involvement with the company. His frustration is evident in his actions. In 2022 and 2023, he issued plenty of news about the EXPO, but this year, there has been nothing.

This is impactful news. I wish he had released a headline this year similar to the one from Expo World 2023, but he hasn’t taken any action.

Affluence Corporation's OneMind Technology Subsidiary on Display With Dell and Nvidia at the Smart City Expo World Congress 2023 Conference
https://marketchameleon.com/PressReleases/i/1786305/NVDA/affluence-corporations-onemind-technology-subsidiary-on-disp

This tells me that he’s out of the loop and someone else is likely poised to take full control of the company. My bet is on Mike Balkin, the new board director, to lead the company moving forward.

As for today's news, a Memorandum of Understanding (MoU) is not legally binding like a contract. It’s simply a formal document outlining an agreement between two parties to collaborate on a deal, project, or partnership. This is nothing new, we already know that both companies have an MOU and an existing partnership.

Considering James Honam and Francesc Domingo, the CEO of Mingothings, have known each other for years, one would expect that if a merger with Mingothings were still on the table, James wouldn’t have resigned from the board. This strongly indicated that a merger with Mingothings is no longer in play.

In the end, this might actually work out in favor of the shareholders. If Mike Balkin is structuring a merger, it could be a significant deal that potentially uplists the company to a major exchange. He’s not a small-time player, and that’s why our focus should shift to conducting due diligence on him.