Replies to post #7449 on Affluence Corporation (AFFU)

[powerbattles]

125K is the note I refer to as described in the quote below: furthermore, on 6/1/2022, Michael Balkin approved additional borrowing, resulting in the issuance of 8 million shares to him. At this point, I believe Balkin holds more shares than the combination of all the insiders.

From my perspective, Balkin’s long-term intention seems to have been to gain control of the company, which ultimately led to the resignation of James E. Honan, and Dale Haase from the board.

After years of funding the company, he’s aware of the company's direction and potential. Previously, we had Series B and A preferred shares for control, but both classes were canceled, leaving only common shares. Therefore, whoever holds the most common shares now controls the company. The company has recorded 500,847,878 restricted shares, with five insider officers and directors controlling 136,077,102 shares, leaving 364,770,776. possible most to the hand of Michael Balkin.
Those notes should not be considered it's in DEFAULT because all notes are ZERO which means shares have converted into the common. We know 136,077,102 restricted shares were held by the insiders of the five directors. What we don't know is that out of 364,770,776 restricted shares how many are in the hand of Michael Ballkin?

Come on can people think outside of the box? Consider Microsoft’s model: the big revenue didn’t come just from a one-time sale of Windows built on MS-DOS. It came from continuous updates and new versions, generating substantial recurring revenue year after year.

Today's sell-off shows that many are still overlooking the company's potential, with some looking for a quick profit rather than understanding the fundamentals. When you have a solid grasp of a company’s fundamentals, no one can pressure you into panic selling.

On September 8, 2022 the Company and Michael Balkin entered into an agreement to convert $125,000 previously owed to Mr. Balkin into a Convertible Loan Agreement . The Company will owe $137,500 on the maturity date. Mr. Balkin also received 6,000,000 warrants that convert into common stock on a one-for- one basis. In the event that the Company re-pays the amount due at maturity prior to March 7, 2023 the number of warrants available for conversion will be reduced by 50%.

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