🎙️ Transcript Breakdown — “Inside the $AFFU Expansion: CEO Oscar Brito on Smart Infrastructure, Profitability & the UCL Deal”
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Opening / Introduction
Host (Eric):
Hey guys, welcome back to the BFC where we go into the trenches of the trading world. I hope everyone’s having an excellent Wednesday. Today we’re joined by Oscar Brito, CEO of Affluence Corporation (ticker $AFFU).
Fresh off the announcement of their letter of intent to acquire Universal Call Limited (UCL) — a UK-based telecom and enterprise connectivity provider. This move could push Affluence to around $43 million in revenue and over $1 million in operating income by year’s end, positioning them as one of the few profitable players in the small-cap IoT and smart infrastructure space.
Affluence brings the tech, IoT, AI, and edge computing; UCL brings the telecom backbone. It’s a powerful combination that could reshape how enterprise and government networks connect. So grab a coffee or cocktail — I’ve been waiting a long time to interview Oscar Brito. Let’s get into it.
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Opening Exchange
Host: Mr. Oscar Brito, welcome to the BFC. How are you doing?
Oscar: Very good, Eric. Thank you for having me on — nice to see you again.
Host: I’m excited! I’ve been following you for quite some time. You’ve had a lot of success and your hands in a lot of projects — glad to finally have you here.
Oscar: Great to be here, Eric. Thanks for your kind words. We’ve been working very hard on this deal and are very excited as well. Appreciate the chance to tell you more about us.
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On the UCL Acquisition
Host: Congratulations on the LOI. Can you walk us through how Universal Call Limited came onto Affluence’s radar and why it’s a strategic fit?
Oscar:
We’ve been exploring telco partnerships for some time — they’re natural fits for IoT services since they have reach, infrastructure, and trust.
Two of our board members are UK-based and previously worked for British Telecom, where they knew the UCL team professionally. That long-standing relationship gives us confidence and helps with integration. Management familiarity is key when acquiring — it smooths culture and execution.
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On Revenue Targets
Host: The press release mentioned $43 million in revenue and $1 million in operating income — rare numbers in the OTC. How confident are you in achieving those targets?
Oscar:
That’s simply the combined run rate of both companies, not an aggressive growth forecast. Based on current annual recurring revenue (ARR), we’re confident those numbers are realistic.
Beyond that, we see 15–25% organic growth once integrated, not counting cross-selling opportunities. So, a 20% growth baseline feels comfortable and achievable.
Host: Twenty percent organically, correct?
Oscar: Correct — just from existing business momentum and contract expansion.
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On Synergies and IoT Integration
Host: What synergies do you expect between Mingo Things (your IoT division) and UCL’s telecom and government client base?
Oscar:
UCL’s clients are large telcos in Asia and South America — many have aging infrastructure. Our IoT edge devices can monitor tower health, predict maintenance needs, and reduce equipment downtime.
This improves reliability for their clients and reduces maintenance costs. We’ll deploy sensors and dashboards to collect real-time data, preventing failures before they happen. It’s early-stage IoT, but the opportunity is massive.
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On Profitability and Cost Management
Host: Many small-cap IoT firms struggle to reach profitability. What’s Affluence doing differently?
Oscar:
We’re extremely cost-minded. Mingo Things was built from scratch by IoT veterans — including some who helped develop key IoT protocols.
We don’t waste money guessing what the market wants. We build solutions per client need. R&D is strategic and lean, often via joint ventures until margins justify in-house development.
We also avoid bloated overhead — no unnecessary hires or flashy titles. Every dollar goes toward clients or acquisitions, not vanity projects.
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On Uplisting Plans
Host: Can you share the roadmap toward a national exchange uplist and milestones needed before it becomes a reality?
Oscar:
That’s a major priority. Uplisting will make capital raising easier and accelerate growth.
To qualify, we need to:
1. Reorganize our balance sheet — converting toxic convertible debt to preferred equity. We’re already in advanced talks with investors to make that exchange.
2. Reverse stock split — already filed with FINRA; we expect completion by year-end or early next year.
3. Meet NASDAQ financial thresholds — a $4.5M net equity minimum (we’ll likely reach $7–8M after debt conversion and the UCL acquisition).
4. Ensure $15M float value — more market dependent, but achievable once the above are complete.
These steps should get us NASDAQ-ready within months.
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On Shareholder Concerns
Host: Some viewers worry that reverse splits in the OTC often lead to dilution. How are you addressing that?
Oscar:
We’re sensitive to that. Our plan is to restructure debt into long-term preferred shares — locking investors in as true partners, not short-term converters.
We’re negotiating new covenants so post-split, conversions can’t flood the market. I’ve done this before in the telecom space — successfully uplisting companies by aligning debt holders with long-term goals.
Host: That transparency is appreciated.
Oscar: Our investors understand that real wealth comes from long-term upside, not endless conversion and selling.
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On Integration and Cross-Border Operations
Host: Integration is always a risk in cross-border deals. How are you planning for that?
Oscar:
We’re comfortable here. Our board already knows UCL’s leadership from past work at British Telecom. It’s similar to when we acquired Mingo Things — also a cross-border integration (Barcelona-based) that went smoothly because of existing trust.
These first two deals are deliberately chosen for low integration risk and strong personal ties.
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On Strategic Positioning
Host: Within the broader smart infrastructure and connected city ecosystem, where do you see Affluence in 12–18 months?
Oscar:
By mid-next year, we aim to be NASDAQ-traded and executing 3–4 acquisitions per year — mid-market companies in the $10–30M revenue range.
We’re also exploring defense-industry applications in Europe, where new budgets are creating fresh opportunities without entrenched players. Parallel to that, we’re building a U.S. sales force to pursue government RFPs.
If we execute these priorities — uplisting, acquisitions, and defense expansion — we’ll be operating at a whole new altitude.
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On Global Growth and Future Markets
Host: The global IoT market is projected to surpass $2.4T by 2030. Where does Affluence fit in, and what verticals excite you most?
Oscar:
Africa and Asia are huge priorities. UCL is already in talks with several African governments to build telecom gateways and national infrastructure.
These are major, high-margin contracts that align perfectly with our IoT and edge solutions. We’re also working with a Malaysian drone company under LOI — not for weaponized use, but for infrastructure inspection and maintenance.
Together, these markets position us for long-term international growth.
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On 2026 Vision
Host: What does success look like for Affluence in 2026? What do you want investors and partners to say?
Oscar:
Success means:
• Completing our structural changes and uplisting to a national exchange.
• Entering the defense sector as a reliable solutions provider.
• Expanding U.S. presence and contracts.
Philosophically, I see the world moving from centralized systems to local, sovereign systems — smaller smart cities, local energy grids, and decentralized AI. Affluence aims to serve those emerging clients while bigger players chase megacities.
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Closing
Host: Excellent insights. Anthony and Holland in the chat said they appreciate the transparency. Thanks again for your time — you’ve been the first guest on our Forward-Looking Friday series!
Oscar:
Thanks, Eric. And to shareholders — we do listen. You might not always get a direct reply, but your feedback is heard.
We focus on customers first, then shareholders, because if we serve customers well, shareholder value follows. Thanks for giving me this opportunity — looking forward to future updates.
Host:
That’s Oscar Brito, CEO of Affluence Corporation (AFFU). Thanks for tuning in, everyone. Remember — there’s more that binds us than breaks us. Peace out.
Oscar: Thank you.
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