Affluence Corporation (OTCMKTS:AFFU) shares dropped 2% after the company announced the execution of an agreement through its OneMindTechnologies SL subsidiary with ISLP Technologies for software offerings to SILP’s Smart City initiatives in India.
Trading Data
On Tuesday, AFFU stock moved down 2.28% at $0.1050 with more than 123k shares, compared to its average volume of 231k shares. The stock has moved within a range of $0.1001 – 0.1400 after opening trade at $0.11.
Affluence Corporation’s OneMind Technologies, SL and ISLP Technologies Enter Into Distribution Agreement In India
Affluence’s CEO James Honan jr. said that the contact will hugely affect OneMind Technologies’ ongoing growth with [positive revenue impact anticipated in 2022. Honan added that ISLP Technologies has deals with leading telcos in India that will help the smart cities initiatives roll out across India, which will create numerous opportunities for OneMind Technologies.
ISLP Technologies president AayuayushBector said there is massive demand in India for solutions such as OneMind Technologies. Bector said that they chose OneMind Technologies as the Smart City Software partner because of its inclusion in a Smart City initiative in the Middle East. Also, OneMind has partnerships with leading tech companies, and its product stack is flexible to scale into other applications. So in the coming weeks, investors should watch AFFU.
Key Quote
“This contract will have a significant impact on OneMind Technologies’ continued growth and will also have an extremely positive impact on 2022 revenue,” said James E. Honan, Jr. Affluence’s Global Chief Executive Officer. “ISLP Technologies has arrangements with prominent Indian Telco companies that will facilitate rollout in multiple cities across India, generating multiple opportunities for OneMind’s entire suite of smart city software products,” continued Honan.
