Replies to post #6907 on Affluence Corporation (AFFU)

[powerbattles]

I’ll go over this in detail, step by step. For those without a financial background, understanding AFFU’s issued notes can be challenging.

To answer your question. OneMind Technologies, and the potential buyout and merger are the value here.

It’s late now, and I need some rest, but I’ll post the analysis for you and everyone to review tomorrow night.

[powerbattles]

Can anyone name a public company that doesn’t dilute its shares? They all do. Timing the end of dilution is critical, as it can be the difference between being a winner or a bag holder. As promised, I’m sharing my insights from analyzing the company’s financial statements. This way, we can discuss, learn together, and help each other avoid mistakes.

The AFFU share structure is straightforward: no preferred stock, only common shares. These common shares are eligible for dividends if approved by the Board of Directors, though no dividends have been issued to date. Each common share carries one voting right, with no preemptive rights, meaning everyone is on equal footing, and control of the company goes to whoever holds the most common shares.

Currently, the five insider officers and directors control a total of 136,077,102 shares.


Outstanding shares totaled 511,045,033 as of December 31, 2022. During 2023, 116,187,088 restricted shares were converted, bringing the total to 627,232,121 shares (511,045,033 + 116,187,088).

On June 1, 2024, the company issued an additional 25,000,000 restricted shares, which have a minimum holding restriction of six months. Since these shares were issued, they must be included in the outstanding shares calculation.

Therefore, as of June 30, 2024, the total outstanding shares amount to 652,232,121 (627,232,121 + 25,000,000).

The latest 10-Q recorded a total of 621,832,121 outstanding shares as of March 31, 2024. Adding the issuance of 25,000,000 restricted shares on June 1, 2024, brings the total to 646,832,121 shares as of June 30, 2024.

Based on my calculations, the total is 652,232,121 shares as of 06/30/2024. However, the filings recorded 646,832,121 shares for the same date, so my calculation differs by 5,400,000 shares. After further investigation, I found that these shares belong to two individuals: Michael Balkin (5,000,000) and Keith Porter (400,000), who still retain them. All issues noted between 2022 and June 30, 2024, have been converted, and no new notes were issued from June 2024 to date.

The concern is that the restricted shares remain the same, yet the outstanding shares (O/S) increased to 765,415,156 as of 10/16/2024, a difference of 118,583,035 shares. This increase aligns with the announcement of the corporation’s change in control, assuming the new shares may have been acquired by the new controlling owner. Keep in mind for Mike Balkin to take control of the company he must have more shares than everyone else. Without additional filings to provide further details, it’s unclear where these new shares originated. The bottom line is that no new notes have been issued, and all previous toxic notes from 2023 to June 2024 have been fully converted.

Restricted 500,847,878 10/16/2024
Restricted 500,847,878 09/17/2024

As of 10/16/2024 O/S 765,415,156
As of 6/30/2024 O/S 646,832,121, the difference is 118,583,035 shares.