NewzIntel.com

Blog

  • MIL-OSI United Kingdom: Scottish Greens propose holiday homes tax to protect Gaelic language

    Source: Scottish Greens

    22 Jul 2025 Housing

    Holiday homes are increasing house prices out and hollowing out communities

    More in Housing

    The Scottish Greens have unveiled new plans to protect Gaelic-speaking communities by increasing taxes on holiday homes and Airbnb-style short term lets. The move is designed to tackle the acute housing crisis in Gaelic communities and to support young people who want to stay in the areas they have grown up in.

    The party’s finance spokesperson, Ross Greer MSP, intends to force a vote on the proposals when Holyrood considers amendments to the Housing Bill in the autumn. His amendments would allow ministers to levy a special surcharge on those buying holiday homes or other additional properties in areas with high numbers of Gaelic speakers, such as Skye and the Outer Hebrides.

    Average house prices in Skye are £60,000 higher than the national average and one local councillor recently estimated that almost 60% of local properties were either holiday homes or short term lets. This is forcing many young people off the island and putting Gaelic’s survival as a community language at risk. Lack of available housing is commonly cited as a key reason why Gaelic is now on the edge of extinction in its historic communities.

    Greer’s proposals follow the Scottish Parliament recently passing the Scottish Languages Act, which allows for communities where Gaelic is widely spoken to be designated as “Areas of Linguistic Significance”. The additional charge on holiday homes purchases the Scottish Green MSP has put forward would apply in the areas with this designation.

    Ross Greer said:

    “Gaelic is an essential part of Scottish culture and national identity, but it is on the verge of extinction as a living language. We need to take bold action immediately, or the decline will be impossible to reverse. The Languages Act is a good starting point, but we know that one of the biggest threats to the language is the housing crisis in areas like Skye.

    “Young Gaelic speakers are being forced out of the last communities where it is still the spoken language because holiday homes and Airbnb-style short term lets have driven up house prices to levels they cannot hope to compete with. As a result, they are forced to move to areas where they cannot use Gaelic in their everyday interactions. This is one of the biggest threats to Gaelic’s continued existence. 

    “My proposals would make it harder for wealthier people to buy up second homes and short-term lets in Gaelic-speaking communities and in turn make it easier for locals, especially first-time buyers, to secure their own home.

    “Changes to Council Tax already delivered by Scottish Green MSPs reduced the number of second and holiday homes across Scotland by 2,500 last year, freeing up more properties for people who need a home to live in. We can build on this success with further targeted actions and ensure that our Gaelic-speaking communities can thrive rather than be treated purely as holiday parks for tourists and the super-rich.”

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Panda Week

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    An important disclaimer is at the bottom of this article.

    Moscow Zoo will hold a series of excursions and lectures about animals of China.

    Participants of the excursion “Guests from the Celestial Empire” will get acquainted with pandas, red wolves, Far Eastern leopards, swans, lynxes and other rare species, their habits, feeding habits and behavior.

    At the lecture “Giant Panda”, visitors will learn about the origin, biology, lifestyle and conservation of the population of giant pandas. The program includes stories about pandas’ adaptation to the environment, raising cubs and measures to protect the species.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Russia: Rain and thunderstorms are expected in Moscow during the day

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    An important disclaimer is at the bottom of this article.

    According to weather forecasters, short-term rain is expected in the next hour, and thunderstorms with showers are expected in some areas. During thunderstorms, winds may increase with gusts of up to 15 meters per second. This weather will continue until the evening.

    Residents are asked to be attentive and careful, not to be near billboards and shaky structures, and not to take shelter under trees.

    In such bad weather, motorists are advised to significantly reduce their speed and increase the distance from vehicles in front, as well as avoid sudden maneuvers – overtaking, changing lanes, passing, not to take shelter under trees and not to park cars next to them.

    In an emergency, you must call the emergency services at the single number: 112 or the single helpline of the Main Directorate of the Ministry of Emergency Situations of Russia for the city of Moscow: 7 495 637-31-01.

    Quickly find out the main news of the capital inofficial telegram channelthe city of Moscow.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI China: China awards medals to Shenzhou-19 astronauts 2025-07-23 19:21:06 Three astronauts who took part in the Shenzhou-19 crewed mission were on Wednesday awarded medals for services to China’s space endeavors.

    Source: People’s Republic of China – Ministry of National Defense

      BEIJING, July 23 (Xinhua) — Three astronauts who took part in the Shenzhou-19 crewed mission were on Wednesday awarded medals for services to China’s space endeavors.

      Cai Xuzhe was honored with a second-class aerospace achievement medal. Song Lingdong and Wang Haoze received third-class aerospace achievement medals and the honorary title of “Heroic Astronaut.”

      The decision to honor them was made by the Communist Party of China Central Committee, the State Council and the Central Military Commission. 

    loading…

    MIL OSI China News –

  • MIL-OSI Asia-Pac: CE presents award certificates of Chief Executive’s Award for Exemplary Performance to HKSAR Search and Rescue Team and Inter-departmental Preparation Team for Kai Tak Sports Park Commissioning

    Source: Hong Kong Government special administrative region

         The Chief Executive, Mr John Lee, officiated at the Chief Executive’s Award for Exemplary Performance Presentation Ceremony today (July 23) to present award certificates to two award-winning teams, namely the Hong Kong Special Administrative Region (HKSAR) Search and Rescue Team to quake-stricken areas in Myanmar in March 2025 and the Inter-departmental Preparation Team for Kai Tak Sports Park (KTSP) Commissioning.

         Addressing the ceremony, Mr Lee praised the excellent performances of the two award-winning teams. He said, “The two awarded outstanding teams have demonstrated their respective strengths, which not only set an example for the entire civil service, but also demonstrated the HKSAR Government’s spirit of pursuing excellence and fearlessly taking on challenges. They created good stories of civil servants that we are proud of through their actions.”

    MIL OSI Asia Pacific News –

  • MIL-OSI Africa: Apply Now: The Hosted Buyer Programme that’s Energising Zambia’s Industrial Future

    Source: APO

    Zambia’s commercial and industrial sectors are at a critical turning point. As businesses across the country grapple with unreliable grid power and increasing energy costs, a transformative opportunity is emerging. The C&I Energy & Storage Summit Zambia 2025 (http://apo-opa.co/3GDVh5F), taking place on 27–28 August in at The Pamodzi Hotel in Lusaka, invites Zambia’s leading private-sector energy users to apply for its exclusive Hosted Buyer Programme — a tailored initiative designed to connect large energy consumers with the technology, financing, and partnerships needed to secure reliable, clean power. The summit offers a powerful platform for strategic engagement between business, government, and solution providers.

    Why Apply for the Hosted Buyer Programme?

    The Hosted Buyer Programme is a premium, no-cost opportunity designed specifically for commercial and industrial (C&I) organisations in Zambia looking to future-proof their operations through energy independence.

    Successful applicants receive:

    • Full Access Pass to both days of the summit, including keynotes, panels, and masterclasses.
    • Curated 1:1 Matchmaking with developers and technology providers in solar, hydro, and battery energy storage systems (BESS).
    • Facilitated Introductions to leading financiers and project developers ready to partner on viable energy solutions.
    • 10% Discount for additional team members to maximise company-wide learning and engagement.

    Whether you’re exploring embedded generation, considering power purchase agreements (PPAs), or ready to implement energy storage, the Hosted Buyer Programme gives you direct access to practical guidance and strategic connections to move your energy project forward.

    Who Should Apply?

    This opportunity is ideal for large energy-using businesses in manufacturing, mining, agriculture, retail, and logistics; project owners exploring clean energy options; and companies ready to implement private power solutions.

    Apply now for the Hosted Buyer Programme: https://apo-opa.co/4o2P6Zr

    Backed by Industry Leaders

    The summit brings together an influential advisory board and speaker line-up featuring leading voices from Zambia’s energy ecosystem — including the Energy Regulation Board, Zambia Development Agency, Africa GreenCo, Standard Bank, and the Proudly Zambian Campaign. They’re joined by dynamic speakers from across the continent, such as representatives from Kenya Power, ENGIE Energy Access, and the Pan African Chamber of Commerce and Industry. All will be offering insights, case studies, and solutions tailored to Zambia’s energy reality. With even more powerful voices to be announced, this is a must-attend event for anyone committed to driving energy transformation in the region.

    This year’s event is proudly supported by a network of sponsors and partners dedicated to advancing energy resilience across the continent. EnerJ, a leader in clean energy development, joins as Gold Sponsor, while global engineering and infrastructure players WEG and Vertiv participate as Bronze Sponsors.

    The summit is also supported by influential Media Partners, including ESI Africa, Engineering News, EngineerIT, Global Africa Network, Green Economy Journal, Media Xpose, RDJ Publishing, and Happening News, who will bring post-event coverage and insights to a broader African audience.

    Further strengthening the platform are Association Partners such as the Pan-African Chamber of Commerce and Industry (PACCI) and the Zambian Association of Manufacturers, alongside Industry Partners like the Zambia Chamber of Commerce and Industry (ZACCI), the Africa Solar Industry Association (AFSIA), and the Zambia Development Agency (ZDA) — all reinforcing the summit’s commitment to inclusive growth and industrial sustainability.

    Zambia’s energy future is being written now — and your organisation can be part of the solution.

    Download the programme: https://apo-opa.co/3GZ3UaU

    Distributed by APO Group on behalf of VUKA Group.

    Contact:
    For sponsorship or hosted buyer enquiries, contact Marcel du Toit: marcel.dutoit@wearevka.com

    For speaking opportunities, contact Babalwa Bungane: babalwa.bungane@wearevuka.com

    About VUKA Group:
    As part of the Power and Energy Portfolio of VUKA Group (https://WeAreVUKA.com), this Summit aligns with VUKA’s mission to connect industries, spark innovation, and fuel economic growth. VUKA Group is a premier organiser of conferences, exhibitions, and events across Africa, delivering tailored platforms for networking, knowledge sharing, and business development in energy and related sectors.

    Media files

    .

    MIL OSI Africa –

  • MIL-OSI Africa: Committee to Assess Feasibility of Introducing a Bill to Amend National Council on Gender-Based Violence and Femicide Act

    Source: APO


    .

    The Portfolio Committee on Women, Youth and Persons with Disabilities asked Parliament’s Legal Services about the existence of a possibility to make amendments through a committee Bill to the National Council on Gender Based Violence Act.

    The committee received a briefing yesterday from Parliament’s Legal Services on the establishment of the National Council on Gender-Based Violence and Femicide (NCGBVF). During the engagement, the Chairperson of the committee, Ms Liezl van der Merwe, said the committee didn’t want to just tick a box and proceed with the processes while there are no resources available for the establishment of the NCGBVF.

    The Chairperson also pointed out that the committee wanted to get more clarity regarding, among other things, the mandate of the body, which was why it requested Parliament’s legal services to appear before it for engagement on the NCGBVF.

    The Chairperson highlighted a concern of the committee over the civil society that will be part of the Council and be remunerated. She also expressed the feeling of the committee about the proposed 24-member secretariat to serve in the Council, that it might be bloated.

    The scope of the request that the committee gave legal services, was to assess the feasibility of introducing a committee Bill that would amend the NCGBVF Act, to determine what provisions within the act require amendments to ensure greater clarity regarding the council’s scope, mandate, and functions.

    Parliament’s Legal Services was of the view that the amendments that the committee is seeking to do, are technical in nature, and where there are substantive amendments, those would be non-contentious.

    Adv Charmaine van der Merwe of Parliament’s Legal Services said, she understands that the department has a different view and that was not in the agenda of the committee. She said contentious matters are Bills such as the National Health Insurance.

    The Bill that the committee envisages might be a difference of opinion on what it should say, but it’s not contentious in the sense that it is likely to be faced with the public outcries. So said, Adv van der Merwe: “I think that the proposed amendments are probably a solution that can be executed by way of a committee Bill,” said Adv van der Merwe.

    The Parliamentary Legal Services will undertake an evaluation of the NCGBVF Act which aims to focus on the following objectives:
    • To assess the feasibility of introducing a committee Bill that would amend the act
    • Determine what provisions within the act require amendments to ensure greater clarity regarding the council’s scope, mandate and functions.
    • To provide competitive examples of existing structures within government established to perform an advisory function, for instance, the South African National AIDS Council.
    • To explore the feasibility of remuneration of council members from civil society, notwithstanding government’s fiscal constraints, ensuring minimal impact on the public purse.
    • Proposal for limiting the size of the secretariat, its composition and structure.
    • Provide a time-frame in the event a committee bill is to be introduced.

    Distributed by APO Group on behalf of The Presidency of the Republic of South Africa.

    MIL OSI Africa –

  • MIL-OSI Africa: Global Small and Medium Enterprises (SME) Ministerial opens: Small businesses key constituency in global trade, say South African SME minister, International Trade Centre (ITC) head

    Source: APO


    .

    The inaugural Global SME Ministerial Meeting opened today, marking a milestone in recognizing small and medium-sized enterprises as a key constituency in global trade. 

    The high-level event is co-hosted by the South African Department of Small Business Development (DSBD) and the International Trade Centre (ITC), with main events taking place on 23-24 July. The Ministerial was preceded by the Trade Promotion Organizations Leadership Dialogue on 22 July, in which heads of national trade promotion organizations developed strategies to better engage with SME ministers to bring the voice of small business into policymaking.

    Watch the livestream of the Ministerial high-level opening.

    More than 700 delegates from more than 60 countries are participating in the Ministerial, including ministers, heads of delegation, heads of national trade promotion organizations, business leaders and entrepreneurs. Ministerial-level delegates convened from across the world, from Bangladesh to Brazil, from Cameroon to Costa Rica, from Senegal to Switzerland, from the United Arab Emirates to the United Kingdom.  

    In her welcome remarks, South African Minister of Small Business Development Stella Tembisa Ndabeni said: ‘Let this Ministerial Meeting mark the beginning of a bold new global compact for MSME development; one that expands access to markets, unlocks affordable finance, accelerates digital inclusion, and ensures that women, youth and underserved communities are not spectators, but architects of economic transformation.’

    She added: ‘Let us commit to practical, measurable actions that position MSMEs as central pillars of resilience, innovation and sustainability. Let us work towards a global enabling ecosystem, where no entrepreneur is left behind because of where they live, how much they earn, or who they are.’

    In her welcome remarks, ITC Executive Director Pamela Coke-Hamilton said: ‘Now, this Ministerial is no talk shop. This is no place for posturing or politics. This is a space for us to marshal our collective knowledge and our energy and find solutions across the three areas that will bring the benefits of trade within reach of more SMEs: access to finance, digital transformation and green competitiveness.’

    Addressing ministerial-level delegates, she said: ‘When you go back to your capitals, your ministries, your cabinet meetings and your meetings with heads of state and government, you’ll be taking back with you concrete solutions, with the evidence to back them up.’

    Expected outcomes include the endorsement of a call-to-action in which countries align on the three main areas that will harness the development of SMEs—access to finance, digital transformation and green competitiveness —and develop a roadmap for future Ministerial Meetings to take place every two years, to ensure discussions produce outcomes for countries. 

    See the latest information on the Ministerial on the Global SME Ministerial Meeting landing page.

    Distributed by APO Group on behalf of International Trade Centre.

    MIL OSI Africa –

  • MIL-OSI Africa: President Wavel Ramkalawan sends condolence message following the passing of Mr. Jérémie Bonnelame

    Source: APO


    .

    “On behalf of the Government and People of Seychelles, and on my personal behalf, I extend our deepest condolence to the family, friends, and loved ones of former Minister and Ambassador, Mr. Jérémie Bonnelame, following his passing.

    Mr. Bonnelame served our nation with unwavering dedication, both as a Minister and as a distinguished diplomat in his various capacities. His contribution to Seychelles’ development and his commitment to public service has left an indelible mark on our country’s history. His leadership, wisdom, and passion for progress inspired many and will continue to resonate for generations to come. 

    In this moment of sorrow, we remember not only his professional achievements but also his integrity and deep love for Seychelles. As we mourn his loss, we celebrate a life well-lived, devoted to the betterment of our nation and its people. 

    May he rest in eternal peace, and may his family find strength and solace in the cherished memories during this time of loss.

    Distributed by APO Group on behalf of State House Seychelles.

    MIL OSI Africa –

  • MIL-OSI Africa: Agricultural cooperatives in Senegal: Driving the sector’s modernization

    Source: APO


    .

    With an agricultural sector that employs more than 909,000 households, according to ANSD, organizing Senegal’s producers into well-equipped, operational cooperatives is a key lever for achieving the goals of the Senegal Vision 2050.

    The West Africa Competitiveness Programme in Senegal (PACAO-Senegal) serves as a relevant model as it supported the creation or compliance of 29 cooperative societies as well as strengthened their managerial and organizational capacities. Together, these cooperatives bring together over 545 producer organizations active in the mango and onion value chains. 

    Among these 29 cooperatives, the Cooperative Society for Support to Production, Processing, and Marketing (SCAPTC) of Pout (Thiès) perfectly illustrates the impact of this support.

    Created in 2021, the Cooperative SCAPTC covers four municipalities in the Thiès region (Pout, Diander, Keur Moussa, and Moroland) and brings together almost 2,940 members, including 20 producer organizations and over 20 individuals. Specializing in onion production, the cooperative was born from an urgent need to structure and professionalize producers who previously worked in a scattered manner, without coordination or appropriate management tools.

    Doudou Diop, President of the Board of Directors of the SCAPTC, recalls the difficult beginnings: “Before our cooperative society was born, our groups were not even structured. We didn’t have statutes or internal regulations. We each worked on our own, without a common strategy.”

    With support from PACAO-Senegal, SCAPTC benefited from training in financial management, leadership, conflict resolution, and strategic planning, which enabled its members to transform an informal structure into a high-performing, sustainable organization.

    Mamadou Lèye, a doctoral student in applied physics at Cheikh Anta Diop University committed to agriculture, combines his studies with farm work and serves as the Secretary General of SCAPTC. He says: “We learned to manage our cooperative like a business. We now organize our meetings efficiently, manage our finances rigorously, and resolve internal conflicts constructively. All these skills, acquired through PACAO-Senegal’s support, are key to our success.”

    Today, SCAPTC is cited as an example in the region for its rigorous management and effective organization. “Other cooperatives and even the supervising ministry send experts to study our model and draw inspiration from it,” adds Mamadou Lèye proudly.

    Amy Ndiaye, hired by PACAO-Senegal as a community development officer, confirms this transformation: “Meetings are held regularly, the General Assembly is organized every year, and members have become autonomous in managing their activities. SCAPTC has become a benchmark model in the region.”

    The members of SCAPTC have improved their yields and incomes. “Today, we have full control of our activity from A to Z, from production to marketing. It has changed our lives,” says Doudou Diop.

    From informal to a benchmark model, SCAPTC illustrates the transformative potential of cooperative societies. Thanks to targeted support, they become frameworks for structuring, formalizing, and strengthening agricultural value chains, thereby contributing to achieving the goals of Senegal Vision 2050.

    Distributed by APO Group on behalf of International Trade Centre.

    MIL OSI Africa –

  • MIL-OSI United Kingdom: Inspection report published: An inspection of the Home Office’s use of age assessments (July 2024 – February 2025)

    Source: United Kingdom – Executive Government & Departments

    News story

    Inspection report published: An inspection of the Home Office’s use of age assessments (July 2024 – February 2025)

    The Independent Chief Inspector, David Bolt CBE, comments on the inspection report on the Home Office’s use of age assessments, and the Home Office’s response, following its publication yesterday.

    My report on the Home Office use of age assessments was published yesterday (22 July 2025). The report was sent to the Home Secretary on 20 May 2025, so publication fell just outside the agreed 8-week target timescale. I made eight recommendations designed to improve training, guidance, assurance, resources and communication and I am pleased that all were accepted.  

    When a young person claims asylum in the UK, the Home Office must determine whether they will be treated as an adult or as a child while their claim is being processed. The focus is on chronological age, reflecting the fact that immigration and other relevant legislation is framed around 18 years as the bright line between childhood and adulthood. However, the binary nature of the determination and the absence of a foolproof ‘test’ of chronological age mean that the Home Office will sometimes get it wrong. This is clearly a cause for concern, especially where a child is denied the rights and protections to which they are entitled.

    This inspection examined initial age decisions based on appearance and demeanour made by the Home Office when first encountering young people who claim asylum, in particular those arriving by small boat. It also examined subsequent age assessments, including those conducted by the National Age Assessment Board (NAAB), which sits within the Home Office and since 2023 has been assisting local authorities by conducting Merton-compliant age assessments on their behalf.

    Inspectors set out to understand how far the Home Office went to ensure that its assessments were sufficiently mindful of the difficulty of getting it right and of the consequences of getting it wrong. Inspectors looked for evidence that processes were methodical, fairly and consistently applied, and child-sensitive; that decisions were balanced and reasonable; and that those involved were open to learning from others and from their mistakes.

    Inspectors found that many of the long-standing concerns about policy and practice, especially in respect of initial age decisions, remain unanswered, and for small boat arrivals some of these concerns had increased. Yet there was a surprising lack of curiosity about decisions that were subsequently disputed and overturned, and a prevailing view that there was no learning to take from these later assessments as the processes were too dissimilar.

    For those disputing their initial age decision, the greater reliance on qualified social workers, whether employed by local authorities or by the NAAB, the recognised Merton ‘standard’, and the fact that there is more time to probe and reflect, made for a more careful and thorough process, though still not guaranteed to get it right. Here there was a need to improve information sharing (with local authorities regarding age disputed individuals dispersed to their area) and capacity (especially of the NAAB to meet the demand it had generated for its services), along with record-keeping, data and quality assurance. 

    Previous inspections have raised concerns about the Home Office’s ability to identify vulnerable adults and respond effectively. In focusing on determining chronological age the Home Office needs to take care that it is not deflected from making a more holistic assessment of individual needs, since a young person who is assessed correctly to be over 18 may nonetheless be vulnerable and at risk if placed with other adults. 

    Underlying my eight recommendations the overall message is that the Home Office should look to work more closely and collaboratively with external stakeholders, including local authorities in England and Wales and their equivalents in Scotland and Northern Ireland, Strategic Migration Partnerships, Non-Governmental Organisations, and should involve others (interpreters, social workers, experts and practitioners in supporting and providing services for children and young people) as much as possible in designing and delivering its processes.

    Home Office policies and practice in relation to age assessments will always be hotly contested, not least because of what is at stake. But a more open and inclusive approach will make it easier for the Home Office and its critics to maintain a constructive dialogue about how to ensure that the best interests of children are served. Committing to better communication, engagement and collaboration would be a start.

    Yesterday, the government also issued a written ministerial statement regarding the use of scientific methods to help determine age. As no scientific methods are currently in use, this was out of scope for this inspection. However, the ICIBI will no doubt wish to return to age assessments at some point to follow up on its recommendations, and this will also be an opportunity to inspect any new methods that are in use at that time.

    David Bolt CBE, Independent Chief Inspector of Borders and Immigration

    23 July 2025

    Updates to this page

    Published 23 July 2025

    MIL OSI United Kingdom –

  • MIL-OSI Europe: Press conference following Council of Ministers meeting no. 135

    Source: Government of Italy (English)

    22 Luglio 2025

    Council of Ministers meeting no. 135 was held at Palazzo Chigi today. Following the meeting, Minister for Public Administration Paolo Zangrillo, Minister of Justice Carlo Nordio, Undersecretary of State to the Presidency of the Council of Ministers Alberto Barachini, Deputy Minister of Economy and Finance Maurizio Leo, Special government commissioner for prison facilities Marco Doglio and Director General of the National Cybersecurity Agency Pref. Bruno Frattasi held a press conference to illustrate the measures approved.

    MIL OSI Europe News –

  • Over 2.22 crore SC students benefitted from scholarships in last 5 years: Centre

    Source: Government of India

    Source: Government of India (4)

    The Union government on Wednesday informed Parliament that more than 2.22 crore Scheduled Caste students have received scholarships over the past five years under two key central schemes aimed at promoting higher education among disadvantaged communities.

    In a written reply during the ongoing Monsoon Session of Parliament, Union Minister of State for Social Justice and Empowerment Ramdas Athawale said that 2,22,31,139 SC students benefitted from the Post Matric Scholarship (PMS) Scheme, while 20,340 others received assistance under the Top-Class Education Scheme.

    Athawale said that the financial assistance has helped reduce the economic burden on SC families, enabling students to access quality education and improve their academic prospects.

    He noted that beneficiaries have enrolled in premier institutions across the country, including Indian Institute of Technology (IITs), Indian Institute of Management (IIMs), Indian Institute of Information Technology (IIITs), All India Institute of Medical Sciences (AIIMS), National Institute of Technology (NITs), National Institute of Fashion Technology (NIFT), National Institute of Design (NIDs), Institute of Hotel Management (IHMs) and National Law University (NLUs).

    “These schemes have contributed significantly to enhancing the educational standard of SC students and promoting socio-economic mobility by addressing both economic and social disadvantages,” the minister added.

  • ADB projects India’s GDP to grow at 6.5% in 2025, 6.7% in 2026 amid strong domestic demandion

    Source: Government of India

    Source: Government of India (4)

    The Asian Development Bank (ADB) on Wednesday projected that India’s GDP will grow at 6.5% in 2025 and a robust 6.7% in 2026, driven by strong domestic demand, a normal monsoon, and monetary easing.

    Inflation in India is expected to stay well within the Reserve Bank of India’s target range, with headline inflation projected at 3.8% for 2025 and 4.0% for 2026, according to the ADB. A sharp decline in food prices has helped ease overall price pressures, with Consumer Price Index (CPI) inflation falling to 2.1% in June — the lowest level in over six years — as food inflation turned negative.

    India’s real GDP growth is projected to range between 6.4% and 6.7% this fiscal year, reaffirming the country’s position as the fastest-growing major economy in the world, the Confederation of Indian Industry (CII) said earlier this month.

    Meanwhile, ADB has lowered its growth forecasts for developing Asia and the Pacific for both this year and the next. The downward revisions are attributed to weaker exports due to higher US tariffs and global trade uncertainty, as well as subdued domestic demand.

    According to the Asian Development Outlook (ADO) July 2025, the region’s economies are now expected to grow by 4.7% this year, a 0.2 percentage point decrease from April’s projection. The 2026 forecast has also been revised downward to 4.6% from 4.7%.

    The outlook for developing Asia and the Pacific could worsen further if US tariffs and trade tensions escalate. Other risks include geopolitical conflicts that could disrupt global supply chains and drive up energy prices, as well as a deeper-than-expected slump in China’s property market.

    “Asia and the Pacific have weathered an increasingly challenging external environment this year. But the economic outlook has weakened amid intensifying risks and global uncertainty,” said ADB Chief Economist Albert Park.

    “Economies in the region should continue strengthening their fundamentals and promoting open trade and regional integration to support investment, employment, and growth,” Park added.

    Growth projections for the People’s Republic of China (PRC), the region’s largest economy, remain unchanged at 4.7% for this year and 4.3% for next year. Southeast Asian economies are expected to be hit hardest by deteriorating trade conditions and rising uncertainty. ADB now forecasts growth of 4.2% for the subregion this year and 4.3% next year—both figures roughly half a percentage point lower than the April estimates.

    — IANS

  • ECI begins process to elect new Vice-President after Dhankhar’s resignation

    Source: Government of India

    Source: Government of India (4)

    The Election Commission of India (ECI) on Wednesday announced that it had initiated the process to conduct elections for the office of the Vice-President of India, two days after Jagdeep Dhankhar resigned from the post citing health reasons.

    In an official statement, the Commission said, “The Election Commission of India, under Article 324, is mandated to conduct the election to the office of the Vice President of India. The election to the office of the Vice President of India is governed by The Presidential and Vice-Presidential Elections Act, 1952 and the rules made thereunder, namely The Presidential and Vice-Presidential Elections Rules, 1974,”

    Under Article 66(1) of the Constitution, the Vice-President is elected by an electoral college comprising members of both the Lok Sabha and the Rajya Sabha, using the system of proportional representation by means of a single transferable vote, with voting conducted by secret ballot.

    The Commission added that it had already started the process of constituting the electoral college and was finalising the appointment of returning officers. The official election schedule would be announced after the completion of these preparatory steps.

    Dhankhar’s tenure was originally set to end on August 10, 2027.

  • Indian stock market surges amid value buying, Sensex jumps 540 points

    Source: Government of India

    Source: Government of India (4)

    The Indian stock market settled in positive territory on Wednesday following buying in banking, financial services, automobiles and healthcare sectors amid positive global cues surrounding the US-Japan trade pact.

    Sensex closed at 82,726.64, up 539.83 or 0.66 per cent. The 30-share index opened with a decent gap-up at 82,451.87 against last session’s closing value of 82,186.81. The index soared further to hit an intraday high of 82,786.43, following buying interest in heavyweights like Tata Motors, Bharti Airtel and ICICI Bank.

    Nifty 50 closed at 25,219.90, up 159 points or 0.63 per cent.

    “The day was characterised by robust performance across key sectors such as Banking, Financial Services, Automobiles, Healthcare, and Information Technology. In contrast, pockets of weakness persisted in Realty, Media, Consumer Goods, and Metals, reflecting a sectorally bifurcated landscape,” said Ashika Institutional Equities in its note.

    On the global stage, investor sentiment soared following optimistic developments surrounding the US-Japan trade pact, igniting expectations for further international agreements shortly.

    Tata Motors, Bharti Airtel, Bajaj Finance, Maruti Suzuki, Bajaj FinServ, HDFC Bank, ICICI Bank, Eternal, Asian Paints, and SBI were top gainers from the Sensex’s stocks. Hindustan Unilever, Infosys, and Ultratech Cements ended the session in red.

    Meanwhile, 37 stocks advanced and 13 shares declined from Nifty50.

    Among sectoral indices, Nifty Bank settled 454 points or 0.80 per cent higher, Nifty Auto surged 203 points or 0.85 per cent and Nifty IT closed 92.60 points or 0.25 per cent up. Nifty FMCG declined.

    Broader indices followed the gaining momentum as well. Nifty Net 50 surged 159 points, Nifty 100 rallied 0.55 per cent or 142 points, and Nifty Midcap 100 ended the session up 203 points or 0.34 per cent. Nifty Smallcap 100 settled flat.

    Rupee traded flat in a narrow range near 86.40, with marginal movement of 0.01 per cent against the dollar. The dollar index also remained steady around 97.40 as markets awaited further cues.

    “Domestic capital markets gained 0.65 per cent, while Fed Chair Powell’s recent speech kept the dollar range-bound. Attention now shifts to next week’s U.S. interest rate decision, which will be a key directional trigger. Rupee is expected to trade within a range of 85.80–86.70,” said Jateen Trivedi of LKP Securities.

    (IANS)

  • Govt clears six semiconductor projects worth ₹1.55 lakh crore, over 27,000 jobs on cards

    Source: Government of India

    Source: Government of India (4)

    The Centre has so far approved six semiconductor manufacturing projects, entailing a cumulative investment of around ₹1.55 lakh crore. These are expected to generate over 27,000 direct jobs, the Parliament was informed on Wednesday.

    Minister of State for Commerce and Industry Jitin Prasada said the approvals are part of the government’s ₹76,000-crore ‘Semicon India Programme’, aimed at building a semiconductor and display manufacturing ecosystem in the country.

    “Semiconductor manufacturing is a highly specialised industry involving complex processes. Most of the jobs created are skilled roles,” Prasada said in a written reply. He added that the sector, being foundational, is likely to have a cascading impact on employment across other industries and supply chains.

    As part of the Design Linked Incentive (DLI) scheme, fiscal support has been extended to 22 approved startups and MSMEs. Of these, three design companies are based in Telangana, where 11 others have received design infrastructure support. Additionally, 22 institutes in the state are being supported under the Chips to Startup (C2S) programme, with six receiving financial assistance.

    Tamil Nadu also has three approved companies under the DLI scheme, while six firms have received design infrastructure support.

    The C2S programme targets the development of 85,000 skilled professionals in the semiconductor sector. So far, over 45,000 students from 100 institutions have enrolled. The government is providing engineering colleges with design tools and software to support chip design training.

    In 2022, the Skilled Manpower Advanced Research and Training (SMART) Lab was set up at NIELIT Calicut, with the goal of training one lakh engineers. Over 42,000 engineers have been trained so far, the minister said.

    The government is also working with global industry and academic partners including Lam Research, IBM, and Purdue University to build capacity in chip design and manufacturing.

    IANS

  • MIL-OSI Security: Utah Man Pleads Guilty in Making Threats Against Palestinian Rights Organization

    Source: US FBI

                WASHINGTON – Kevin Brent Buchanan, 63, of Tooele, Utah, pleaded guilty yesterday in the District of Columbia in connection with threatening violence against the employees of a D.C.-based Palestinian rights organization, announced U.S. Attorney Jeanine Ferris Pirro.

                Buchanan pleaded guilty to a one-count information charging him with transmitting in interstate commerce a communication containing a threat to injure the person of another. U.S. District Court Judge Colleen Kollar-Kotelly scheduled a sentencing hearing for November 18, 2025. Buchanan faces a maximum of five years in prison and a fine of up to $250,000.

                Joining in the announcement were Assistant Attorney General Harmeet Dhillon of the Justice Department’s Civil Rights Division and FBI Assistant Director in Charge Steven J. Jensen of the Washington Field Office.

                According to court documents, between Oct. 31, 2023, and Nov. 2, 2023, Buchanan used his cell phone to call and leave five voice mail messages for members of the organization. In his November 2 message, Buchanan stated in part: “Your families are going to be followed and watched;” “You don’t even belong in America;” “I hope every Muslim in the United States [expletive] croaks;” and “You are all going to [expletive] die, you pieces of [expletive] traitors.”

                Buchanan admitted that he intentionally targeted the organization because its staff and members are Palestinian, and because the organization advocates on behalf of Palestinians.

                The FBI Washington Field Office investigated the case. Valuable assistance was provided by FBI Salt Lake City and the United States Attorney’s Office for the District of Utah. Prosecuting the case are Assistant U.S. Attorneys Timothy Visser and Joshua Gold for the District of Columbia and Trial Attorney Sanjay Patel of the Department of Justice Civil Rights Division’s Criminal Section.

    24cr256

    MIL Security OSI –

  • MIL-OSI Security: District Man Sentenced to 11.5 Years in Scheme to Steal Residential Real Estate Using Fraudulent Deeds

    Source: US FBI

               WASHINGTON – Jeffrey M. Young-Bey, 68, of the District of Columbia, was sentenced today to 138 months in prison for his role a scheme that stole residential real estate property in order to generate more than $850,000 in fraudulent loans, announced U.S. Attorney Jeanine Ferris Pirro.

               Young-Bey was found guilty by a jury on Feb.12, 2024, on 12 federal charges: one count of conspiracy to commit mail fraud and bank fraud, two counts of bank fraud, two counts of mail fraud, two counts of money laundering, and five counts of aggravated identity theft. In addition to the  term of incarceration, U.S. District Judge Colleen Kollar-Kotelly ordered five years of supervised release.

               Joining in the announcement was FBI Assistant Director in Charge Steven J. Jensen of the Washington Field Office, which led the investigation. 

               According to the government’s evidence, beginning in November 2019, Young-Bey conspired to steal a residential townhome located in LeDroit Park in order to obtain mortgage financing against the stolen property. 

               Young-Bey identified a target property owned free and clear by an elderly homeowner. He then prepared a fraudulent property deed, including forged signatures of the true owners and used a fake notary stamp to make the deed appear legitimate.

               Young-Bey filed the deed with the District of Columbia Recorder of Deeds, transferring the title from the true owners to a corporate entity. Young-Bey passed a check to the D.C. Recorder of Deeds to pay for the transfer taxes but put a stop payment order on the check before the D.C. government could cash the check. After causing the fake deed to be recorded with the D.C. Recorder of Deeds, he falsely told a mortgage services business that another individual had inherited the property and wanted to take a large loan against the value of the home.

               Young-Bey created a fake rental lease and deceived the mortgage company into loaning one of his associates approximately $360,000 against the value of the home they did not own, which was split evenly between the two. Young-Bey used his half of the proceeds to buy a BMW 3-Series valued at approximately $23,000. 

               After succeeding on the first scam, Young-Bey executed a second fraudulent scheme on a Shephard Park property in the District, forging the names of the two owners, using the fake notary stamp, and recording the deed at the D.C. Recorder of Deeds Office. Young-Bey again put a stop payment order on the transfer tax check before it could be cashed. Young-Bey used the recorded deed to obtain a construction loan of more than $500,000 against the value of the house.  Young-Bey took a portion of the loan and purchased a BMW 7-Series worth approximately $120,000. He promptly sold the home to a legitimate real estate company for an additional $42,000 in profit. The fraud was discovered when the real estate company began performing renovations on the home and the rightful owners were alerted to the construction and demolition by their neighbors. 

               This case was investigated by the FBI’s Washington Field Office with assistance from the Metropolitan Police Department. It was prosecuted by Assistant U.S. Attorneys Christopher R. Howland and Kevin L. Rosenberg of the Fraud, Public Corruption, and Civil Rights Section with the assistance of Paralegal Specialist Gina Torres. Valuable assistance was provided by Assistant U.S. Attorney Joshua S. Rothstein, who investigated and indicted the case, as well as former Assistant U.S. Attorney Virginia Cheatham, former Special Assistant U.S. Attorney Viviana Vasiu, and Paralegal Specialist Lisa Abbe, each of whom assisted in investigating the case. The prosecution team was also assisted by Tonya Jones from the Victim Witness Assistance Unit and Assistant U.S. Attorney Daniel Lenerz from the Appellate Section.

    21cr661

    MIL Security OSI –

  • MIL-OSI: YieldMax® ETFs Announces Distributions on HOOY, CONY, ULTY, AMDY, YMAG, and Others

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO and MILWAUKEE and NEW YORK, July 23, 2025 (GLOBE NEWSWIRE) — YieldMax® today announced distributions for the YieldMax® Weekly Payers and Group C ETFs listed in the table below.

    ETF
    Ticker    1    		 ETF Name Distribution
    Frequency    		 Distribution
    per Share    		 Distribution
    Rate    2,4    		 30-Day
    SEC Yield3    		 ROC5 Ex-Date &
    Record
    Date    		 Payment
    Date
    CHPY YieldMax® Semiconductor Portfolio Option Income ETF Weekly $0.3723 35.54% 0.04% 100.00% 7/24/25 7/25/25
    GPTY YieldMax® AI & Tech Portfolio Option Income ETF Weekly $0.3219 35.36% 0.00% 100.00% 7/24/25 7/25/25
    LFGY YieldMax® Crypto Industry & Tech Portfolio Option Income ETF Weekly $0.4876 62.94% 0.00% 100.00% 7/24/25 7/25/25
    QDTY YieldMax® Nasdaq 100 0DTE Covered Call ETF Weekly $0.1944 22.64% 0.00% 86.12% 7/24/25 7/25/25
    RDTY YieldMax® R2000 0DTE Covered Call ETF Weekly $0.3901 44.01% 1.65% 100.00% 7/24/25 7/25/25
    SDTY YieldMax® S&P 500 0DTE Covered Call ETF Weekly $0.1607 18.44% 0.07% 42.60% 7/24/25 7/25/25
    ULTY YieldMax® Ultra Option Income Strategy ETF Weekly $0.1029 85.29% 0.00% 100.00% 7/24/25 7/25/25
    YMAG YieldMax® Magnificent 7 Fund of Option Income ETFs Weekly $0.2033 68.60% 63.17% 42.42% 7/24/25 7/25/25
    YMAX YieldMax® Universe Fund of Option Income ETFs Weekly $0.1838 68.48% 82.40% 6.23% 7/24/25 7/25/25
    ABNY YieldMax® ABNB Option Income Strategy ETF Every 4
    weeks    		 $0.3748 40.32% 2.85% 0.00% 7/24/25 7/25/25
    AMDY YieldMax® AMD Option Income Strategy ETF Every 4
    weeks    		 $0.5656 85.13% 2.82% 0.00% 7/24/25 7/25/25
    CONY YieldMax® COIN Option Income Strategy ETF Every 4
    weeks    		 $0.7951 103.37% 2.93% 0.00% 7/24/25 7/25/25
    CVNY YieldMax® CVNA Option Income Strategy ETF Every 4
    weeks    		 $2.0473 61.43% 2.71% 97.34% 7/24/25 7/25/25
    DRAY* YieldMax® DKNG Option Income Strategy ETF Every 4
    weeks    		   – – – – – –
    FIAT YieldMax® Short COIN Option Income Strategy ETF Every 4
    weeks    		 $0.1381 60.28% 4.73% 93.10% 7/24/25 7/25/25
    HOOY YieldMax® HOOD Option Income Strategy ETF Every 4
    weeks    		 $6.8981 121.23% 1.43% 100.00% 7/24/25 7/25/25
    MSFO YieldMax® MSFT Option Income Strategy ETF Every 4
    weeks    		 $0.4139 29.80% 2.97% 0.00% 7/24/25 7/25/25
    NFLY YieldMax® NFLX Option Income Strategy ETF Every 4
    weeks    		 $0.4350 32.40% 2.80% 0.00% 7/24/25 7/25/25
    PYPY YieldMax® PYPL Option Income Strategy ETF Every 4
    weeks    		 $0.2731 27.61% 3.48% 0.00% 7/24/25 7/25/25
    Weekly Payers & Group D ETFs scheduled for next week: CHPY GPTY LFGY QDTY RDTY SDTY ULTY YMAG YMAX AIYY AMZY APLY DISO MSTY SMCY WNTR XYZY YQQQ


    Standardized Performance and Fund details can be obtained by clicking the ETF Ticker in the table above or by visiting us at     www.yieldmaxetfs.com

    Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling (866) 864 3968.

    Note: DIPS, FIAT, CRSH, YQQQ and WNTR are hereinafter referred to as the “Short ETFs.”

    Distributions are not guaranteed. The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

    Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).

    *The inception date for DRAY is July 14, 2025

    1All YieldMax® ETFs shown in the table above (except YMAX, YMAG, FEAT, FIVY and ULTY) have a gross expense ratio of 0.99%. YMAX, FEAT have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. YMAG has a management fee of 0.29% and Acquired Fund Fees and Expenses of 0.83% for a gross expense ratio of 1.12%. FIVY has a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.59% for a gross expense ratio of 0.88%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax® ETFs. ULTY has a gross expense ratio of 1.40%, and a net expense ratio after the fee waiver of 1.30%. The Advisor has agreed to a fee waiver of 0.10% through at least February 28, 2026.

    2The Distribution Rate shown is as of close on July 22, 2025. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.

    3 The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended June 30, 2025, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.

    4 Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.

    5ROC refers to Return of Capital. The ROC percentage indicates how much the distribution reflects an investor’s initial investment. The figures shown for each Fund in the table above are estimates and may later be determined to be taxable net investment income, short-term gains, long-term gains (to the extent permitted by law), or return of capital. Actual amounts and sources for tax reporting will depend upon the Fund’s investment activities during the remainder of the fiscal year and may be subject to changes based on tax regulations. Your broker will send you a Form 1099-DIV for the calendar year to tell you how to report these distributions for federal income tax purposes.

    Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.

    Important Information

    This material must be preceded or accompanied by the prospectus. For all prospectuses, click here.

    Tidal Financial Group is the adviser for all YieldMax® ETFs.

    THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

    Risk Disclosures (applicable to all YieldMax ETFs referenced above, except the Short ETFs)

    YMAX, YMAG, FEAT and FIVY generally invest in other YieldMax® ETFs. As such, these Funds are subject to the risks listed in this section, which apply to all the YieldMax® ETFs they may hold from time to time.

    Investing involves risk. Principal loss is possible.

    Referenced Index Risk. The Fund invests in options contracts that are based on the value of the Index (or the Index ETFs). This subjects the Fund to certain of the same risks as if it owned shares of companies that comprised the Index or an ETF that tracks the Index, even though it does not.

    Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way. Investors in the Fund will not have the right to receive dividends or other distributions or any other rights with respect to the companies that comprise the Index but will be subject to declines in the performance of the Index.

    Russell 2000 Index Risks. The Index, which consists of small-cap U.S. companies, is particularly susceptible to economic changes, as these firms often have less financial resilience than larger companies. Market volatility can disproportionately affect these smaller businesses, leading to significant price swings. Additionally, these companies are often more exposed to specific industry risks and have less diverse revenue streams. They can also be more vulnerable to changes in domestic regulatory or policy environments.

    Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer periods.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security (ARKK, TSLA, AAPL, NVDA, AMZN, META, GOOGL, NFLX, COIN, MSFT, DIS, XOM, JPM, AMD, PYPL, SQ, MRNA, AI, MSTR, Bitcoin ETP, GDX®, SNOW, ABNB, BABA, TSM, SMCI, PLTR, MARA, CVNA, HOOD, BRK.B, DKNG), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way.

    Risk Disclosures (applicable only to GPTY)

    Artificial Intelligence Risk. Issuers engaged in artificial intelligence typically have high research and capital expenditures and, as a result, their profitability can vary widely, if they are profitable at all. The space in which they are engaged is highly competitive and issuers’ products and services may become obsolete very quickly. These companies are heavily dependent on intellectual property rights and may be adversely affected by loss or impairment of those rights. The issuers are also subject to legal, regulatory, and political changes that may have a large impact on their profitability. A failure in an issuer’s product or even questions about the safety of the product could be devastating to the issuer, especially if it is the marquee product of the issuer. It can be difficult to accurately capture what qualifies as an artificial intelligence company.

    Technology Sector Risk. The Fund will invest substantially in companies in the information technology sector, and therefore the performance of the Fund could be negatively impacted by events affecting this sector. Market or economic factors impacting technology companies and companies that rely heavily on technological advances could have a significant effect on the value of the Fund’s investments. The value of stocks of information technology companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition, both domestically and internationally, including competition from foreign competitors with lower production costs. Stocks of information technology companies and companies that rely heavily on technology, especially those of smaller, less-seasoned companies, tend to be more volatile than the overall market. Information technology companies are heavily dependent on patent and intellectual property rights, the loss or impairment of which may adversely affect profitability.

    Risk Disclosure (applicable only to MARO)

    Digital Assets Risk: The Fund does not invest directly in Bitcoin or any other digital assets. The Fund does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. The Fund does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than the Fund. Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility.

    Risk Disclosures (applicable only to BABO and TSMY)

    Currency Risk: Indirect exposure to foreign currencies subjects the Fund to the risk that currencies will decline in value relative to the U.S. dollar. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

    Depositary Receipts Risk: The securities underlying BABO and TSMY are American Depositary Receipts (“ADRs”). Investment in ADRs may be less liquid than the underlying shares in their primary trading market.

    Foreign Market and Trading Risk: The trading markets for many foreign securities are not as active as U.S. markets and may have less governmental regulation and oversight.

    Foreign Securities Risk: Investments in securities of non-U.S. issuers involve certain risks that may not be present with investments in securities of U.S. issuers, such as risk of loss due to foreign currency fluctuations or to political or economic instability, as well as varying regulatory requirements applicable to investments in non-U.S. issuers. There may be less information publicly available about a non-U.S. issuer than a U.S. issuer. Non-U.S. issuers may also be subject to different regulatory, accounting, auditing, financial reporting, and investor protection standards than U.S. issuers.

    Risk Disclosures (applicable only to GDXY)

    Risk of Investing in Foreign Securities. The Fund is exposed indirectly to the securities of foreign issuers selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities.

    Risk of Investing in Gold and Silver Mining Companies. The Fund is exposed indirectly to gold and silver mining companies selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies.

    The Fund invests in options contracts based on the value of the VanEck Gold Miners ETF (GDX®), which subjects the Fund to some of the same risks as if it owned GDX®, as well as the risks associated with Canadian, Australian and Emerging Market Issuers, and Small-and Medium-Capitalization companies.

    Risk Disclosures (applicable only to YBIT)

    YBIT does not invest directly in Bitcoin or any other digital assets. YBIT does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. YBIT does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than YBIT.

    Bitcoin Investment Risk: The Fund’s indirect investment in Bitcoin, through holdings in one or more Underlying ETPs, exposes it to the unique risks of this emerging innovation. Bitcoin’s price is highly volatile, and its market is influenced by the changing Bitcoin network, fluctuating acceptance levels, and unpredictable usage trends.

    Digital Assets Risk: Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility. Potentially No 1940 Act Protections. As of the date of this Prospectus, there is only a single eligible Underlying ETP, and it is an investment company subject to the 1940 Act.

    Bitcoin ETP Risk: The Fund invests in options contracts that are based on the value of the Bitcoin ETP. This subjects the Fund to certain of the same risks as if it owned shares of the Bitcoin ETP, even though it does not. Bitcoin ETPs are subject, but not limited, to significant risk and heightened volatility. An investor in a Bitcoin ETP may lose their entire investment. Bitcoin ETPs are not suitable for all investors. In addition, not all Bitcoin ETPs are registered under the Investment Company Act of 1940. Those Bitcoin ETPs that are not registered under such statute are therefore not subject to the same regulations as exchange traded products that are so registered.

    Risk Disclosures (applicable only to the Short ETFs)

    Investing involves risk. Principal loss is possible.

    Price Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the value of the underlying reference asset. This strategy subjects the Fund to certain of the same risks as if it shorted the underlying reference asset, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the value of the underlying reference asset, the Fund is subject to the risk that the value of the underlying reference asset increases. If the value of the underlying reference asset increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses.

    Put Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s put writing (selling) strategy will impact the extent that the Fund participates in decreases in the value of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold put options and over longer periods.

    Purchased OTM Call Options Risk. The Fund’s strategy is subject to potential losses if the underlying reference asset increases in value, which may not be offset by the purchase of out-of-the-money (OTM) call options. The Fund purchases OTM calls to seek to manage (cap) the Fund’s potential losses from the Fund’s short exposure to the underlying reference asset if it appreciates significantly in value. However, the OTM call options will cap the Fund’s losses only to the extent that the value of the underlying reference asset increases to a level that is at or above the strike level of the purchased OTM call options. Any increase in the value of the underlying reference asset to a level that is below the strike level of the purchased OTM call options will result in a corresponding loss for the Fund. For example, if the OTM call options have a strike level that is approximately 100% above the then-current value of the underlying reference asset at the time of the call option purchase, and the value of the underlying reference asset increases by at least 100% during the term of the purchased OTM call options, the Fund will lose all its value. Since the Fund bears the costs of purchasing the OTM calls, such costs will decrease the Fund’s value and/or any income otherwise generated by the Fund’s investment strategy.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying reference asset, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will participate in decreases in value experienced by the underlying reference asset over the Put Period.

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, for any Fund that focuses on an individual security (e.g., TSLA, COIN, NVDA, MSTR), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole. Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    Risk Disclosures (applicable only to CHPY)

    Semiconductor Industry Risk. Semiconductor companies may face intense competition, both domestically and internationally, and such competition may have an adverse effect on their profit margins. Semiconductor companies may have limited product lines, markets, financial resources or personnel. Semiconductor companies’ supply chain and operations are dependent on the availability of materials that meet exacting standards and the use of third parties to provide components and services.

    The products of semiconductor companies may face obsolescence due to rapid technological developments and frequent new product introduction, unpredictable changes in growth rates and competition for the services of qualified personnel. Capital equipment expenditures could be substantial, and equipment generally suffers from rapid obsolescence. Companies in the semiconductor industry are heavily dependent on patent and intellectual property rights. The loss or impairment of these rights would adversely affect the profitability of these companies.

    Risk Disclosures (applicable only to YQQQ)

    Index Overview. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization.

    Index Level Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the Index level. This strategy subjects the Fund to certain of the same risks as if it shorted the Index, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the Index level, the Fund is subject to the risk that the Index level increases. If the Index level increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: innovation and technological advancement; strong market presence of Index constituent companies; adaptability to global market trends; and resilience and recovery potential.

    Index Level Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will benefit from decreases in the Index level experienced over the Put Period. This means that if the Index level experiences a decrease in value below the strike level of the sold put options during a Put Period, the Fund will likely not experience that increase to the same extent and any Fund gains may significantly differ from the level of the Index losses over the Put Period. Additionally, because the Fund is limited in the degree to which it will participate in decreases in value experienced by the Index level over each Put Period, but has significant negative exposure to any increases in value experienced by the Index level over the Put Period, the NAV of the Fund may decrease over any given period. The Fund’s NAV is dependent on the value of each options portfolio, which is based principally upon the inverse of the performance of the Index level. The Fund’s ability to benefit from the Index level decreases will depend on prevailing market conditions, especially market volatility, at the time the Fund enters into the sold put option contracts and will vary from Put Period to Put Period. The value of the options contracts is affected by changes in the value and dividend rates of component companies that comprise the Index, changes in interest rates, changes in the actual or perceived volatility of the Index and the remaining time to the options’ expiration, as well as trading conditions in the options market. As the Index level changes and time moves towards the expiration of each Put Period, the value of the options contracts, and therefore the Fund’s NAV, will change. However, it is not expected for the Fund’s NAV to directly inversely correlate on a day-to-day basis with the returns of the Index level. The amount of time remaining until the options contract’s expiration date affects the impact that the value of the options contracts has on the Fund’s NAV, which may not be in full effect until the expiration date of the Fund’s options contracts. Therefore, while changes in the Index level will result in changes to the Fund’s NAV, the Fund generally anticipates that the rate of change in the Fund’s NAV will be different than the inverse of the changes experienced by the Index level.

    YieldMax® ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, or YieldMax® ETFs.

    © 2025 YieldMax® ETFs

    The MIL Network –

  • MIL-OSI: Synervest Group Raises $4 Million Series A to Accelerate Global Expansion of Institutional Fintech Infrastructure

    Source: GlobeNewswire (MIL-OSI)

    ABU DHABI, United Arab Emirates, July 23, 2025 (GLOBE NEWSWIRE) — Global Market—Synervest Group, a fintech holding company delivering institutional-grade infrastructure across trading, payments, and financial technology, today announced it has raised $4 million in Series A funding. The round was led by Jura Investment Group, with continued participation from CMT Digital, valuing the company at $60 million—double its valuation from just 12 months earlier.

    The investment follows a strong period of commercial and operational momentum across Synervest’s portfolio of financial services businesses. The funding will be used to accelerate international expansion, enhance the Group’s regulatory presence, and strengthen its institutional offering.

    “Bringing Jura on board as a strategic partner, alongside the continued backing of CMT Digital, is a major endorsement of our model and long-term vision,” said Alexander Oelfke, Founding Partner at Synervest Group. “This partnership enables us to scale faster, deepen our regulatory capabilities, and broaden our reach across institutional markets.”

    With legal entities and regulatory licenses in key international jurisdictions, Synervest maintains operational hubs in Europe and the Middle East and serves financial institutions seeking compliant, scalable, cross-border infrastructure.

    “We see great potential in Synervest Group and are excited to support their global expansion. Their innovative approach to fintech aligns well with our vision, and we look forward to contributing our expertise to accelerate their growth,” said Bas Kooijman, CEO of Jura Investment Group.

    “The future of financial markets will be shaped by firms that can operate across borders while meeting the highest regulatory standards,” said Jan-Dirk L., Co-Founder of CMT Digital. “Synervest is building precisely that—robust trading infrastructure designed for global institutions. We’re proud to support their next phase of growth.”

    About Synervest Group

    Synervest Group is a global fintech platform providing a unified and highly interconnected compliance-led ecosystem that triggers scalable offerings for both B2B and B2C models whether for proprietary or external utility across trading, payments, and financial technology. Headquartered in Abu Dhabi Global Market (ADGM), the Group operates across key international financial hubs with regulatory licenses in multiple jurisdictions.

    Contact
    Marc Suárez – Head of Marketing
    marketing@synervest.group

    The MIL Network –

  • MIL-OSI: MARA Holdings, Inc. Announces Proposed Private Offering of $850 Million of Zero Coupon Convertible Senior Notes

    Source: GlobeNewswire (MIL-OSI)

    Miami, FL, July 23, 2025 (GLOBE NEWSWIRE) — MARA Holdings, Inc. (NASDAQ: MARA) (“MARA” or the “Company”), a leading digital energy and infrastructure company, today announced that it intends to offer, subject to market conditions and other factors, $850 million aggregate principal amount of 0.00% convertible senior notes due 2032 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). MARA also expects to grant to the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $150 million aggregate principal amount of the notes. The offering is subject to market and other conditions, and there can be no assurance as to whether, when or on what terms the offering may be completed.

    The notes will be unsecured, senior obligations of MARA. The notes are not expected to bear regular interest (other than special interest in limited circumstances) and the principal amount of the notes is not expected to accrete. Special interest, if any, on the notes will be payable semi-annually in arrears on February 1 and August 1 of each year, beginning on February 1, 2026 (if and to the extent that special interest is then payable on the notes). The notes will mature on August 1, 2032, unless earlier repurchased, redeemed or converted in accordance with their terms. Subject to certain conditions, on or after January 15, 2030, MARA may redeem for cash all or any portion of the notes. If MARA redeems fewer than all the outstanding notes, at least $75 million aggregate principal amount of notes must be outstanding and not subject to redemption as of the relevant redemption notice date. Holders of the notes will have the right to require MARA to repurchase for cash all or any portion of their notes on January 4, 2030, if the last reported sale price of MARA’s common stock on the second trading day immediately preceding the repurchase date is less than the conversion price. The notes will be convertible into cash, shares of MARA’s common stock, or a combination of cash and shares of MARA’s common stock, at MARA’s election. Prior to May 1, 2032, the notes will be convertible only upon the occurrence of certain events and during certain periods, and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The interest rate, initial conversion rate and other terms of the notes will be determined at the time of pricing of the offering. MARA expects that the reference price used to calculate the initial conversion price for the notes will be the U.S. composite volume weighted average price of MARA’s common stock from 2:00 p.m. through 4:00 p.m. Eastern Daylight Time on the date of pricing.

    MARA expects to use up to $50 million of the net proceeds from the sale of the notes to repurchase a portion of its existing 1.00% convertible senior notes due 2026 (the “1.00% 2026 convertible notes”) in privately negotiated transactions with the remainder of the net proceeds to be used to pay the cost of the capped call transactions (as described below), to acquire additional bitcoin and for general corporate purposes, which may include working capital, strategic acquisitions, expansion of existing assets, and repayment of additional debt and other outstanding obligations.

    In connection with any repurchase of the 1.00% 2026 convertible notes, MARA expects that holders of the 1.00% 2026 convertible notes who agree to have their notes repurchased and who have hedged their equity price risk with respect to such notes (the “hedged holders”) will unwind all or part of their hedge positions by buying MARA’s common stock and/or entering into or unwinding various derivative transactions with respect to MARA’s common stock. The amount of MARA’s common stock to be purchased by the hedged holders or in connection with such derivative transactions may be substantial in relation to the historic average daily trading volume of MARA’s common stock. This activity by the hedged holders could increase (or reduce the size of any decrease in) the market price of MARA’s common stock, including concurrently with the pricing of the notes, resulting in a higher effective conversion price of the notes. MARA cannot predict the magnitude of such market activity or the overall effect it will have on the price of the notes or MARA’s common stock.

    In connection with the pricing of the notes, MARA expects to enter into privately negotiated capped call transactions with one or more of the initial purchasers and/or their respective affiliates and/or other financial institutions (the “option counterparties”). If the initial purchasers exercise their option to purchase additional notes, MARA expects to use a portion of the net proceeds from the sale of such additional notes to enter into additional capped call transactions with the option counterparties. The capped call transactions will cover, subject to anti-dilution adjustments, the number of shares of common stock underlying the notes sold in the offering. The capped call transactions are generally expected to reduce potential dilution to the common stock upon any conversion of notes and/or offset any cash payments MARA elects to make in excess of the principal amount of converted notes, as the case may be, with such reduction and/or offset subject to a cap.

    MARA has been advised that, in connection with establishing their initial hedges of the capped call transactions, the option counterparties or their respective affiliates expect to purchase shares of common stock and/or enter into various derivative transactions with respect to the common stock concurrently with or shortly after the pricing of the notes. This activity could increase (or reduce the size of any decrease in) the market price of the common stock or the notes at that time. In addition, the option counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to the common stock and/or purchasing or selling the common stock or other securities of MARA in secondary market transactions following the pricing of the notes and prior to the maturity of the notes (and are likely to do so during any observation period related to a conversion of the notes, in connection with any redemption of the notes, any fundamental change repurchase of the notes or any exercise of a holder’s optional repurchase right, and, to the extent MARA unwinds a corresponding portion of the capped call transactions, following any other repurchase of the notes). This activity could also cause or avoid an increase or a decrease in the market price of the common stock or the notes, which could affect the ability of noteholders to convert the notes and, to the extent the activity occurs during any observation period related to a conversion of notes, it could affect the number of shares of common stock, if any, and value of the consideration that noteholders will receive upon conversion of the notes.

    The notes will be offered and sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. The offer and sale of the notes and the shares of MARA’s common stock issuable upon conversion of the notes, if any, have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction, and the notes and any such shares may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. Any offer of the notes will be made only by means of a private offering memorandum.

    This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, the notes, nor shall there be any sale of the notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful under the securities laws of any such state or jurisdiction. Nothing in this press release shall be deemed an offer to purchase MARA’s 1.00% 2026 convertible notes.

    About MARA

    MARA (NASDAQ:MARA) deploys digital energy technologies to advance the world’s energy systems. Harnessing the power of compute, MARA transforms excess energy into digital capital, balancing the grid and accelerating the deployment of critical infrastructure. Building on its expertise to redefine the future of energy, MARA develops technologies that reduce the energy demands of high-performance computing applications, from AI to the edge.

    Forward-Looking Statements

    Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the completion, size and timing of the offering, the anticipated use of any proceeds from the offering, and the terms of the notes and the capped call transactions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including uncertainties related to market conditions and the completion of the offering on the anticipated terms or at all, the other factors discussed in the “Risk Factors” section of MARA’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 3, 2025 and the risks described in other filings that MARA may make from time to time with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and MARA specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by applicable law.

    MARA Company Contact:
    Telephone: 800-804-1690
    Email: ir@mara.com

    MARA Media Contact:
    Email: mara@wachsman.com

    The MIL Network –

  • MIL-OSI: Mobix Labs Accelerates Growth with Appointment of Phil Sansone as CEO as Co-Founder Fabian Battaglia Transitions to Strategic Advisor

    Source: GlobeNewswire (MIL-OSI)

    ~ Mobix enters powerful new growth phase, expanding its footprint in defense, military, aerospace, and high-speed wireless innovation ~

    ~ Leadership transition marks new phase of expansion and innovation ~

    IRVINE, Calif. , July 23, 2025 (GLOBE NEWSWIRE) — Mobix Labs, Inc. (NASDAQ: MOBX) (“Mobix” or the “Company”), a fabless semiconductor company focused on next-generation wireless and wired connectivity, today announced that Fabian Battaglia, the Company’s Chief Executive Officer and co-founder, is retiring from his role as CEO effective July 25, 2025. Phil Sansone, who has served as Interim CEO since April 2025, has been named Chief Executive Officer, effective July 25, 2025. Battaglia will remain actively involved with the Company as a senior advisor to the CEO and Board of Directors.

    “Mobix Labs was founded with a mission to transform high-performance connectivity, and I’m incredibly proud of what we’ve built together,” said Fabian Battaglia. “Taking this company from an early-stage vision to a Nasdaq-listed innovator in just a few years has been the honor of my career. I have complete confidence in Phil’s leadership and look forward to supporting him and the Board in my new advisory role. The future of Mobix has never been brighter.”

    Under Battaglia’s leadership, Mobix grew from a startup into a public company with a rapidly expanding presence in advanced communication technologies. As CEO, he spearheaded Mobix’s strategic expansion into critical sectors including defense, military, aerospace, and wireless communications, as well as rapid growth through M&A.

    “Fabian’s vision, passion, and relentless commitment laid the foundation for Mobix’s success,” said Jim Peterson, Executive Chairman of the Board. “We are grateful for his exceptional leadership and pleased that he will continue contributing to the Company in an advisory capacity. We are equally excited to welcome Phil as our new CEO — a proven leader with the insight, drive, and strategic acumen to guide Mobix into its next chapter of growth.”

    Phil Sansone brings over two decades of operational leadership experience, including his most recent role leading Mobix as interim CEO. In that time, he has accelerated customer acquisition, strengthened internal execution, and positioned the Company for scalable expansion.

    “I’m honored to take the helm as CEO of Mobix Labs at this pivotal moment,” said Phil Sansone, Chief Executive Officer. “We have extraordinary technology, world-class talent, and a clear vision. As we enter our next phase, I’m committed to delivering transformative solutions to our customers and exceptional value to our shareholders.”

    The leadership transition underscores Mobix’s commitment to long-term innovation, growth, and operational excellence as the Company continues to scale across key growth markets.

    Phil Sansone brings over 30 years of global sales and executive management experience within the semiconductor industry. Previoulsy, Sansone held senior roles at Microsemi and MaxLinear and spent nearly two decades at Avnet, ultimately serving as Senior Vice President of North American sales and engineering. He was instrumental in driving market share gains and improving operational performance. Sansone’s proven leadership in global distribution, strategic partnerships, and revenue growth strongly supports Mobix’s continuing success in dynamic, high-demand markets.

    Since joining Mobix Labs in October 2021 as Vice President of Sales, Sansone has notably expanded the company’s footprint in the military, defense, and aerospace sectors, securing key orders for technologies utilized in critical U.S. military and defense platforms.

    About Mobix Labs, Inc.

    Mobix Labs designs, develops, and supplies advanced connectivity and sensing solutions for high-growth sectors, including aerospace, defense, wireless, medical, industrial, and automotive markets. Headquartered in Irvine, California, Mobix’s offerings include mmWave RF modules, EMI filters, optical interconnects, and active optical cable systems. Founded in 2020, the company is publicly traded on Nasdaq under the ticker MOBX.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations, estimates, forecasts, and projections about future events and the performance of Mobix Labs, Inc. (“Mobix,” the “Company,” “we,” or “our”), and involve risks, uncertainties, and assumptions that are difficult to predict. These statements include, but are not limited to, statements regarding the Company’s strategic growth initiatives, market expansion plans, leadership transition, expectations regarding the Company’s technology development, customer relationships, product demand, and future financial and operational performance.

    Words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions, as they relate to Mobix or its management, are intended to identify such forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict and that are, in many cases, beyond the Company’s control.

    Actual results may differ materially from those expressed or implied in forward-looking statements due to various factors, including, but not limited to: the ability of the Company to effectively execute its growth strategy; risks related to leadership transitions and management continuity; macroeconomic and geopolitical conditions; supply chain disruptions; market acceptance of new products and technologies; customer demand and procurement timing in the defense and aerospace sectors; the Company’s ability to maintain compliance with Nasdaq listing requirements; and other risks and uncertainties described from time to time in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including under the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

    Mobix assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Readers are cautioned not to place undue reliance on these forward-looking statements.

    About Mobix Labs, Inc.

    Mobix Labs (Nasdaq: MOBX) is a purpose-built, 100% U.S.-based supplier of advanced connectivity solutions targeting aerospace, defense, AI, and 5G infrastructure markets. Headquartered in Irvine, California, Mobix Labs delivers performance-critical RF, optical, and electromagnetic interference (EMI) interconnect technologies through proprietary semiconductor IP, advanced packaging, and vertically integrated manufacturing. Learn more at www.mobixlabs.com.

    Investor Contact:
    Ryan Battaglia
    rbattaglia@mobixlabs.com

    Media Contact:
    Christopher Lancaster
    clancaster@mobixlabs.com

    Source: Mobix Labs, Inc.

    The MIL Network –

  • MIL-OSI: CertiK Skynet Report Ranks Leading Stablecoins: USDT, USDC, PYUSD, and RLUSD Among the Top

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 23, 2025 (GLOBE NEWSWIRE) — CertiK, the largest Web3 security services company, released its Skynet Stablecoin Spotlight Report for H1 2025, detailing the current state of the stablecoin market, how the Skynet Stablecoin Rating Framework provides a tailored system for evaluating a stablecoin’s security risk profile, and recent regulatory impacts on stablecoin adoption and security.

    In this report, CertiK noted that stablecoin adoption grew significantly in the first half of 2025; as of July 2025, stablecoins represent approximately 8.9% of the overall crypto market. However, as is the case with the growth of other digital assets, stablecoin expansion has brought increased scrutiny of security, risk, and regulatory compliance. This shift was one of the driving factors behind the development of CertiK’s Skynet rating system, which brings a comprehensive framework for assessing stablecoin activity from a security and risk standpoint, aiming to protect stablecoin users.

    The report paints a detailed picture of the current state of the stablecoin market. For instance, aggregate supply of stablecoins grew from $204 billion to $252 billion in the first half of 2025, and monthly settlement volumes rose by 43 percent to $1.39 trillion. Stablecoins such as USDT (Tether) and USDC (Circle) are dominating the stablecoin market, with other stablecoins seeing a steep growth trajectory.

    Additionally, CertiK noted how recent regulatory developments are changing the stablecoin landscape. In the United States, the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act of 2025 proposes a robust federal framework for stablecoin reserve requirements and monthly audited reserve reports, among other requirements. Concurrently, the Senate passed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act of 2025, which proposes a tiered regulatory system, allowing smaller issuers (under $10 billion in circulation) to operate under state-level oversight while mandating federal supervision for larger entities. The European Union has enforced its own similar frameworks through Markets in Crypto-Assets (MiCA).

    These frameworks are bifurcating the market into license-ready leaders and non-compliant holdouts. Banks such as Société Générale, Santander, and Bank of America, and payment networks like Visa and Stripe, accelerated stablecoin pilots, signaling that regulated USD-backed coins are moving onto traditional finance rails.

    As stablecoin adoption accelerates, security considerations will become all the more important. Thus, the focal point of CertiK’s report is its Skynet Stablecoin Rating Framework, which combines qualitative analysis with quantitative metrics across six key domains: Operational Resilience, Governance Strength, Fundamental Health, Code Security, Market Dynamic, and Community Trust. Some of the leading stablecoins evaluated by CertiK’s framework include USDT, USDC, PYUSD, and USDS.

    CertiK’s report noted that the next wave of stablecoin innovation will likely involve the growth of two main stablecoin models: RWA-backed stablecoins and yield-bearing stablecoins. According to the report, the stablecoin market is projected to exceed $300 billion by year-end. In this evolving environment, rigorous risk management, transparent operations, and a proactive compliance posture are the critical determinants of long-term viability.

    Elisa Yiting Xu
    yiting.xu@certik.com

    The MIL Network –

  • MIL-OSI: Fidelity D & D Bancorp, Inc. Reports Second Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    DUNMORE, Pa., July 23, 2025 (GLOBE NEWSWIRE) — Fidelity D & D Bancorp, Inc. (NASDAQ: FDBC) and its banking subsidiary, The Fidelity Deposit and Discount Bank, announced its unaudited, consolidated financial results for the three and six-month periods ended June 30, 2025.

    Unaudited Financial Information

    Net income for the quarter ended June 30, 2025 was $6.9 million, or $1.20 diluted earnings per share, compared to $4.9 million, or $0.86 diluted earnings per share, for the quarter ended June 30, 2024.  The $2.0 million, or 40%, increase in net income resulted primarily from a $2.8 million increase in net interest income coupled with a $0.8 million increase in non-interest income. This was partially offset by a $1.1 million increase in non-interest expense and a $0.6 million increase in the provision for income tax.

    For the six months ended June 30, 2025, net income was $12.9 million, or $2.23 diluted earnings per share, compared to $10.0 million, or $1.73 diluted earnings per share, for the six months ended June 30, 2024.  The $2.9 million, or 29%, increase in net income stemmed from the $4.9 million increase in net interest income and $1.1 million increase in non-interest income. This was partially offset by a $2.0 million increase in non-interest expense and a $1.0 million increase in the provision for income tax.

    “I am pleased to share that we delivered another strong quarter, underscoring the continued momentum of our strategy and the dedication of our entire team,” stated Daniel J. Santaniello, President and Chief Executive Officer. “Second quarter 2025 net income increased 40% over last year’s second quarter to $6.9 million, with diluted earnings per share rising to $1.20. This performance was driven by a 19% increase in net interest income—reflecting our disciplined loan portfolio expansion and enhanced yields as well as a 16% rise in non-interest income.

    Year-to-date, net income has grown 29% to $12.9 million, a clear testament to the strength of our relationship-based deposit strategy and prudent expense management. Our asset quality remains solid, and we further strengthened our capital position, with shareholders’ equity up 7% providing a strong foundation for continued growth in the second half of 2025.

    These results reflect more than financial performance—they speak to the strength of our culture, our commitment to our clients, and our deep roots in the communities we serve. I want to sincerely thank our talented and dedicated team of bankers, whose expertise and focus on service excellence drive our success every day. Together, we continue to build a stronger, more resilient financial institution—one that delivers meaningful value to our bankers, clients, shareholders, and communities.”

    Consolidated Second Quarter Operating Results Overview

    Net interest income was $17.9 million for the second quarter of 2025, a 19% increase over the $15.1 million earned for the second quarter of 2024.  The $2.8 million increase in net interest income resulted from the increase of $3.7 million in interest income primarily due to a $213.6 million increase in the average balance of interest-earning assets and a 19 basis point increase in fully-taxable equivalent (“FTE”) (non-GAAP measurement) yield. The loan portfolio had the most significant impact, producing a $2.8 million increase in FTE interest income from $124.6 million in higher quarterly average balances and an increase of 24 basis points in FTE loan yield. Additionally, the Company experienced an increase of $1.1 million in interest earned from interest-bearing deposits with other financial institutions from $102.0 million in higher average balances. Slightly offsetting the higher interest income, there was a $0.9 million increase in interest expense due to a $178.8 million quarter-over-quarter increase in average interest-bearing liability balances. The increase was due to growth of $208.3 million in average interest-bearing deposit balances. However, this deposit growth was partially offset by a $28.5 million decrease in average short-term borrowings.

    The FTE yield on interest-earning assets was 4.77% for the second quarter of 2025, an increase of 19 basis points from the 4.58% for the second quarter of 2024. The overall cost of interest-bearing liabilities was 2.52% for the second quarter of 2025, a decrease of 6 basis points from the 2.58% for the second quarter of 2024.  The cost of funds decreased 1 basis point from 1.96% to 1.95% for the second quarters of 2024 and 2025, respectively. The Company’s FTE net interest spread was 2.25% for the second quarter of 2025, an increase of 25 basis points from 2.00% recorded for the second quarter of 2024.  FTE net interest margin increased to 2.92% for the three months ended June 30, 2025 from 2.71% for the same period of 2024 primarily due to the growth in higher yielding taxable commercial loans.

    For the three months ended June 30, 2025, the provision for credit losses on loans was $300 thousand and the provision for unfunded commitments was $20 thousand compared to a $275 thousand provision for credit losses on loans and a $140 thousand provision for credit losses on unfunded loan commitments for the three months ended June 30, 2024. For the three months ended June 30, 2025, the increase in the provision for credit losses on loans compared to the prior year period was due to $155 thousand in higher net charge-offs and a higher average total loan balance compared to the same period in 2024. For the three months ended June 30, 2025, the decrease in the provision for unfunded commitments was due to lower levels of unfunded commitments during the quarter due to increased utilization, specifically commercial construction commitments, compared to the year earlier period.

    Total non-interest income increased $0.8 million, or 16%, to $5.4 million for the second quarter of 2025 compared to $4.6 million for the second quarter of 2024. The increase in non-interest income was primarily attributed to increases of $0.2 million in trust fees, a $0.2 million BOLI death benefit, $0.2 million in loan service charges, and $0.1 million in interchange fees. 

    Non-interest expenses increased $1.1 million, or 8%, for the second quarter of 2025 to $14.7 million from $13.6 million for the same quarter of 2024. The increase in non-interest expenses was primarily due to the increases in salaries and benefits expense of $0.8 million, premises and equipment expense of $0.2 million, and advertising expense of $0.2 million. These increases were partially offset by a $0.2 million decrease in professional services for the three months ended June 30, 2025 compared to the same period of 2024.

    The provision for income taxes increased $0.6 million during the three months ended June 30, 2025 compared to the same period in 2024 primarily due to a $2.6 million increase in income before taxes.

    Consolidated Year-To-Date Operating Results Overview

    Net interest income was $35.0 million for the six months ended June 30, 2025 compared to $30.1 million for the six months ended June 30, 2024.  The $4.9 million increase in net interest income resulted from the increase of $6.4 million in interest income primarily due to a $181.0 million increase in the average balance of interest-earning assets and a 20 basis point increase in FTE yield.  On the asset side, the loan portfolio interest income growth resulted from producing $5.3 million more in interest income from an increase of 25 basis points in FTE loan yields on $120.5 million in higher average balances. Additionally, the Company experienced an increase of $1.5 million in interest earned from interest-bearing deposits with other financial institutions from $71.6 million in higher average balances. The increase in interest income was partially offset by a decrease of $0.3 million in interest earned on the investment portfolio due to decreases of 6 basis points in yield and $11.3 million in average balances. On the funding side, total interest expense increased by $1.5 million primarily due to an increase in interest expense paid on deposits of $2.5 million from a 2 basis points higher rates paid on a $194.0 million larger average balance of interest-bearing deposits, partially offset by a decrease in interest expense on borrowings of $1.0 million for the six months ended June 30, 2025 compared to the same period in 2024.

    The overall cost of interest-bearing liabilities was 2.51% for the six months ended June 30, 2025 compared to 2.54% for the six months ended June 30, 2024.  The cost of funds decreased 1 basis point to 1.94% for the six months ended June 30, 2025 from 1.95% from the same period of 2024. The FTE yield on earning assets was 4.75% for the six months ended June 30, 2025, an increase of 20 basis points from the 4.55% year-to-date June 30, 2024.  The Company’s FTE net interest spread was 2.24% for the six months ended June 30, 2025, an increase of 23 basis points from the 2.01% recorded for the same period of 2024.  FTE net interest margin increased by 21 basis points to 2.91% for the six months ended June 30, 2025 from 2.70% for the same 2024 period primarily due to the increase in yields earned on loans and leases outpacing the rates paid on interest-bearing deposits.

    For the six months ended June 30, 2025, the provision for credit losses on loans was $755 thousand and the provision for credit losses on unfunded loan commitments was a net benefit of $65 thousand compared to a $400 thousand provision for credit losses on loans and a $90 thousand provision for credit losses on unfunded commitments for the six months ended June 30, 2024. For the six months ended June 30, 2025, the increase in the provision for credit losses on loans compared to the prior year period was due to $215 thousand in higher net charge-offs and a higher average total loan balance compared to the same period in 2024. For the six months ended June 30, 2025, the decrease in the provision for unfunded commitments was due to lower growth in unfunded commitments during the period due to increased utilization, specifically commercial construction commitments, compared to the year earlier period.

    Total non-interest income for the six months ended June 30, 2025 was $10.3 million, an increase of $1.1 million, or 12%, from $9.2 million for the six months ended June 30, 2024.  The increase was primarily due to $0.3 million higher fees from trust fiduciary activities. The Company also had $0.2 million more non-interest income resulting from an increase in interchange fees, a $0.2 million BOLI death benefit, and an increase of $0.2 million in service charges on commercial loans. During the first half of 2025, gains of $0.5 million on the sale of a commercial loan and $0.3 million from the sale of a property were offset by $0.8 million in losses recognized on the sale of securities.

    Non-interest expenses increased to $29.3 million for the six months ended June 30, 2025, an increase of $2.0 million, or 7%, from $27.3 million for the six months ended June 30, 2024. Salaries and benefits expense increased $1.3 million due to an increase in bankers, group insurance costs, and banker incentives in the first half of 2025, compared to the same period in 2024. Additionally, the Company saw an increase of $0.5 million in advertising and marketing expenses primarily due to a $0.3 million increase in Neighborhood Assistance Program donations from which the Company recognized $0.2 million in additional tax credits causing a corresponding decrease in PA shares tax expense. There was also an increase of $0.5 million in premises and equipment expense primarily due to higher costs for software licenses, subscriptions, and maintenance. The increases were partially offset by $0.3 million less in professional services expense.

    The provision for income taxes increased $1.0 million during the six months ended June 30, 2025 compared to the same period in 2024 primarily due to a $3.9 million increase in income before taxes and $0.2 million less in tax credits. 

    Consolidated Balance Sheet & Asset Quality Overview

    The Company’s total assets had a balance of $2.7 billion as of June 30, 2025, an increase of $114.0 million from December 31, 2024. The increase resulted from $82.1 million in growth in cash and cash equivalents as of June 30, 2025 compared to December 31, 2024. The loans and leases portfolio increased $37.9 million over the same period. Asset growth was offset by a decrease of $11.4 million in the investment portfolio primarily due to the sale of $17.5 million in available-for-sale securities and $11.3 million in paydowns partially offset by $14.7 million in purchases of securities.

    During the same time period, total liabilities increased $100.0 million, or 4%. Deposit growth of $94.5 million was utilized to fund loan growth and increase interest-bearing cash balances. For interest-bearing deposit accounts, the Company experienced increases of $37.2 million in money market deposits, $17.2 million in interest-bearing checking accounts, $14.4 million in time deposits, and $1.6 million in savings and clubs. The deposit growth is primarily driven by growth in existing account balances from the relationship building strategy along with targeted direct marketing campaigns driving new client acquisitions and active management of promotional and retention rates. Additionally, the Company experienced an increase of $24.1 million in non-interest-bearing checking accounts. As of June 30, 2025, the ratio of insured and collateralized deposits to total deposits was approximately 75%.

    Shareholders’ equity increased $13.9 million, or 7%, to $217.9 million at June 30, 2025 from $204.0 million at December 31, 2024. The increase was caused by $8.3 million higher retained earnings from net income of $12.9 million plus a $4.9 million, after tax, improvement in accumulated other comprehensive income from lower net unrealized losses recorded on available-for-sale securities, partially offset by $4.7 million in cash dividends paid to shareholders. An additional $0.9 million was recorded from the issuance of common stock under the Company’s stock plans and stock-based compensation expense. At June 30, 2025, there were no credit losses on available-for-sale and held-to-maturity debt securities.  Accumulated other comprehensive income (loss) is excluded from regulatory capital ratios. The Company remains well capitalized with Tier 1 capital at 9.16% of total average assets as of June 30, 2025.  Total risk-based capital was 14.72% of risk-weighted assets and Tier 1 risk-based capital was 13.57% of risk-weighted assets as of June 30, 2025. Tangible book value per share was $34.25 at June 30, 2025 compared to $31.98 at December 31, 2024.  Tangible common equity was 7.38% of total assets at June 30, 2025 compared to 7.16% at December 31, 2024.

    Asset Quality

    Total non-performing assets were $3.5 million, or 0.13% of total assets, at June 30, 2025, compared to $7.8 million, or 0.30% of total assets, at December 31, 2024. Past due and non-accrual loans to total loans were 0.41% at June 30, 2025 compared to 0.71% at December 31, 2024. Net charge-offs to average total loans were 0.05% at June 30, 2025 compared to 0.03% at December 31, 2024.

    About Fidelity D & D Bancorp, Inc. and The Fidelity Deposit and Discount Bank

    Fidelity D & D Bancorp, Inc. has built a strong history as trusted financial advisor to the clients served by The Fidelity Deposit and Discount Bank (“Fidelity Bank”).  Fidelity Bank continues its mission of exceeding client expectations through a unique banking experience. It operates 21 full-service offices throughout Lackawanna, Luzerne, Lehigh and Northampton Counties and a Fidelity Bank Wealth Management Office in Schuylkill County. Fidelity Bank provides a digital banking experience online at www.bankatfidelity.com, through the Fidelity Mobile Banking app, and in the Client Care Center at 1-800-388-4380. Additionally, the Bank offers full-service Wealth Management & Brokerage Services, a Mortgage Center, and a full suite of personal and commercial banking products and services. Part of the Company’s vision is to serve as the best bank for the community, which was accomplished by having provided over 5,960 hours of volunteer time and over $1.3 million in donations to non-profit organizations directly within the markets served throughout 2024. Fidelity Bank’s deposits are insured by the Federal Deposit Insurance Corporation up to the full extent permitted by law.

    Non-GAAP Financial Measures

    The Company uses non-GAAP financial measures to provide information useful to the reader in understanding its operating performance and trends, and to facilitate comparisons with the performance of other financial institutions. Management uses these measures internally to assess and better understand our underlying business performance and trends related to core business activities.  The Company’s non-GAAP financial measures and key performance indicators may differ from the non-GAAP financial measures and key performance indicators other financial institutions use to measure their performance and trends. Non-GAAP financial measures should be supplemental to GAAP used to prepare the Company’s operating results and should not be read in isolation or relied upon as a substitute for GAAP measures.  Reconciliations of non-GAAP financial measures to GAAP are presented in the tables below.

    Interest income was adjusted to recognize the income from tax exempt interest-earning assets as if the interest was taxable, fully-taxable equivalent (“FTE”), in order to calculate certain ratios within this document.  This treatment allows a uniform comparison among yields on interest-earning assets.  Interest income was FTE adjusted, using the corporate federal tax rate of 21% for 2025 and 2024.

    Forward-looking statements

    Certain of the matters discussed in this press release constitute forward-looking statements for purposes of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and as such may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements.  The words “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” and similar expressions are intended to identify such forward-looking statements.

    The Company’s actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation:

      ■ local, regional and national economic conditions and changes thereto;
      ■ the short-term and long-term effects of inflation, and rising costs to the Company, its customers and on the economy;
      ■ the risks of changes and volatility of interest rates on the level and composition of deposits, loan demand, and the values of loan collateral, securities and interest rate protection agreements, as well as interest rate risks;
      ■ securities markets and monetary fluctuations and volatility;
      ■  disruption of credit and equity markets;
      ■ impacts of the capital and liquidity requirements of the Basel III standards and other regulatory pronouncements, regulations and rules;
      ■ governmental monetary and fiscal policies, as well as legislative and regulatory changes;
      ■ effects of short- and long-term federal budget and tax negotiations and their effect on economic and business conditions;
      ■ the costs and effects of litigation and of unexpected or adverse outcomes in such litigation;
      ■ the impact of new or changes in existing laws and regulations, including laws and regulations concerning taxes, banking, securities and insurance and their application with which the Company and its subsidiaries must comply;
      ■ the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies, as well as the Financial Accounting Standards Board and other accounting standard setters;
      ■ the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions operating in our market area and elsewhere, including institutions operating locally, regionally, nationally and internationally, together with such competitors offering banking products and services by mail, telephone, computer and the internet;
      ■ the effects of economic conditions of any other pandemic, epidemic or other health-related crisis such as COVID-19 and responses thereto on current customers and the operations of the Company, specifically the effect of the economy on loan customers’ ability to repay loans;  
      ■ the effects of bank failures, banking system instability, deposit fluctuations, loan and securities value changes;  
      ■ technological changes;  
      ■ the interruption or breach in security of our information systems, continually evolving cybersecurity and other technological risks and attacks resulting in failures or disruptions in customer account management, general ledger processing and loan or deposit updates and potential impacts resulting therefrom including additional costs, reputational damage, regulatory penalties, and financial losses;  
      ■ acquisitions and integration of acquired businesses;  
      ■ the failure of assumptions underlying the establishment of reserves for loan losses and estimations of values of collateral and various financial assets and liabilities;  
      ■ acts of war or terrorism; and  
      ■ the risk that our analyses of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful.

    The Company cautions readers not to place undue reliance on forward-looking statements, which reflect analyses only as of the date of this release.  The Company has no obligation to update any forward-looking statements to reflect events or circumstances after the date of this release.

    For more information please visit our investor relations web site located through www.bankatfidelity.com.

    FIDELITY D & D BANCORP, INC.
    Unaudited Condensed Consolidated Balance Sheets
    (dollars in thousands)    		  
    At Period End:   June 30, 2025     December 31, 2024  
    Assets                
    Cash and cash equivalents   $ 165,495     $ 83,353  
    Investment securities     545,821       557,221  
    Restricted investments in bank stock     4,240       3,961  
    Loans and leases     1,837,477       1,800,856  
    Allowance for credit losses on loans     (19,976 )     (19,666 )
    Premises and equipment, net     40,097       35,914  
    Life insurance cash surrender value     58,849       58,069  
    Goodwill and core deposit intangible     20,364       20,504  
    Other assets     46,208       44,404  
                     
    Total assets   $ 2,698,575     $ 2,584,616  
                     
    Liabilities                
    Non-interest-bearing deposits   $ 558,074     $ 533,935  
    Interest-bearing deposits     1,877,254       1,806,885  
    Total deposits     2,435,328       2,340,820  
    Short-term borrowings     10       –  
    Secured borrowings     6,134       6,266  
    Other liabilities     39,191       33,561  
    Total liabilities     2,480,663       2,380,647  
                     
    Shareholders’ equity     217,912       203,969  
                     
    Total liabilities and shareholders’ equity   $ 2,698,575     $ 2,584,616  
    Average Year-To-Date Balances:   June 30, 2025     December 31, 2024  
    Assets                
    Cash and cash equivalents   $ 129,527     $ 55,773  
    Investment securities     551,906       557,537  
    Restricted investments in bank stock     4,066       3,960  
    Loans and leases     1,822,654       1,741,349  
    Allowance for credit losses on loans     (20,189 )     (19,391 )
    Premises and equipment, net     35,839       35,580  
    Life insurance cash surrender value     58,503       56,455  
    Goodwill and core deposit intangible     20,423       20,641  
    Other assets     42,950       41,755  
                     
    Total assets   $ 2,645,679     $ 2,493,659  
                     
    Liabilities                
    Non-interest-bearing deposits   $ 540,320     $ 527,825  
    Interest-bearing deposits     1,852,895       1,697,529  
    Total deposits     2,393,215       2,225,354  
    Short-term borrowings     16       32,446  
    Secured borrowings     6,194       6,830  
    Other liabilities     35,497       32,471  
    Total liabilities     2,434,922       2,297,101  
                     
    Shareholders’ equity     210,757       196,558  
                     
    Total liabilities and shareholders’ equity   $ 2,645,679     $ 2,493,659  
    FIDELITY D & D BANCORP, INC.
    Unaudited Condensed Consolidated Statements of Income
    (dollars in thousands)    		  
        Three Months Ended     Six Months Ended  
        Jun. 30, 2025     Jun. 30, 2024     Jun. 30, 2025     Jun. 30, 2024  
    Interest income                                
    Loans and leases   $ 25,328     $ 22,516     $ 49,924     $ 44,649  
    Securities and other     4,437       3,523       8,149       7,016  
                                     
    Total interest income     29,765       26,039       58,073       51,665  
                                     
    Interest expense                                
    Deposits     (11,738 )     (10,459 )     (22,925 )     (20,400 )
    Borrowings and debt     (98 )     (463 )     (186 )     (1,204 )
                                     
    Total interest expense     (11,836 )     (10,922 )     (23,111 )     (21,604 )
                                     
    Net interest income     17,929       15,117       34,962       30,061  
                                     
    Provision for credit losses on loans     (300 )     (275 )     (755 )     (400 )
    Net (provision) benefit for credit losses on unfunded loan commitments     (20 )     (140 )     65       (90 )
    Non-interest income     5,359       4,615       10,332       9,188  
    Non-interest expense     (14,710 )     (13,616 )     (29,264 )     (27,306 )
                                     
    Income before income taxes     8,258       5,701       15,340       11,453  
                                     
    Provision for income taxes     (1,337 )     (766 )     (2,428 )     (1,460 )
    Net income   $ 6,921     $ 4,935     $ 12,912     $ 9,993  
        Three Months Ended  
        Jun. 30, 2025     Mar. 31, 2025     Dec. 31, 2024     Sep. 30, 2024     Jun. 30, 2024  
    Interest income                                        
    Loans and leases   $ 25,328     $ 24,596     $ 24,584     $ 24,036     $ 22,516  
    Securities and other     4,437       3,712       3,475       3,263       3,523  
                                             
    Total interest income     29,765       28,308       28,059       27,299       26,039  
                                             
    Interest expense                                        
    Deposits     (11,738 )     (11,187 )     (11,468 )     (11,297 )     (10,459 )
    Borrowings and debt     (98 )     (88 )     (217 )     (571 )     (463 )
                                             
    Total interest expense     (11,836 )     (11,275 )     (11,685 )     (11,868 )     (10,922 )
                                             
    Net interest income     17,929       17,033       16,374       15,431       15,117  
                                             
    Provision for credit losses on loans     (300 )     (455 )     (250 )     (675 )     (275 )
    Net benefit (provision) for credit losses on unfunded loan commitments     (20 )     85       85       (135 )     (140 )
    Non-interest income     5,359       4,973       4,847       4,979       4,615  
    Non-interest expense     (14,710 )     (14,554 )     (14,395 )     (13,840 )     (13,616 )
                                             
    Income before income taxes     8,258       7,082       6,661       5,760       5,701  
                                             
    Provision for income taxes     (1,337 )     (1,091 )     (826 )     (793 )     (766 )
    Net income   $ 6,921     $ 5,991     $ 5,835     $ 4,967     $ 4,935  
    FIDELITY D & D BANCORP, INC.
    Unaudited Condensed Consolidated Balance Sheets
    (dollars in thousands)    		  
    At Period End:   Jun. 30, 2025     Mar. 31, 2025     Dec. 31, 2024     Sep. 30, 2024     Jun. 30, 2024  
    Assets                                        
    Cash and cash equivalents   $ 165,495     $ 211,195     $ 83,353     $ 120,169     $ 78,085  
    Investment securities     545,821       540,960       557,221       559,819       552,495  
    Restricted investments in bank stock     4,240       4,021       3,961       3,944       3,968  
    Loans and leases     1,837,477       1,817,509       1,800,856       1,795,548       1,728,509  
    Allowance for credit losses on loans     (19,976 )     (20,017 )     (19,666 )     (19,630 )     (18,975 )
    Premises and equipment, net     40,097       34,995       35,914       36,057       35,808  
    Life insurance cash surrender value     58,849       58,458       58,069       57,672       57,278  
    Goodwill and core deposit intangible     20,364       20,431       20,504       20,576       20,649  
    Other assets     46,208       43,758       44,404       41,778       42,828  
                                             
    Total assets   $ 2,698,575     $ 2,711,310     $ 2,584,616     $ 2,615,933     $ 2,500,645  
                                             
    Liabilities                                        
    Non-interest-bearing deposits   $ 558,074     $ 555,684     $ 533,935     $ 549,710     $ 527,572  
    Interest-bearing deposits     1,877,254       1,901,775       1,806,885       1,792,796       1,641,558  
    Total deposits     2,435,328       2,457,459       2,340,820       2,342,506       2,169,130  
    Short-term borrowings     10       10       –       25,000       98,120  
    Secured borrowings     6,134       6,190       6,266       6,323       7,237  
    Other liabilities     39,191       35,977       33,561       34,843       30,466  
    Total liabilities     2,480,663       2,499,636       2,380,647       2,408,672       2,304,953  
                                             
    Shareholders’ equity     217,912       211,674       203,969       207,261       195,692  
                                             
    Total liabilities and shareholders’ equity   $ 2,698,575     $ 2,711,310     $ 2,584,616     $ 2,615,933     $ 2,500,645  
    Average Quarterly Balances:   Jun. 30, 2025     Mar. 31, 2025     Dec. 31, 2024     Sep. 30, 2024     Jun. 30, 2024  
    Assets                                        
    Cash and cash equivalents   $ 161,316     $ 97,384     $ 67,882     $ 41,991     $ 58,351  
    Investment securities     546,149       557,726       560,453       554,578       551,445  
    Restricted investments in bank stock     4,158       3,973       3,957       3,965       3,983  
    Loans and leases     1,832,162       1,813,040       1,797,023       1,763,254       1,707,598  
    Allowance for credit losses on loans     (20,357 )     (20,019 )     (20,050 )     (19,323 )     (19,171 )
    Premises and equipment, net     35,954       35,722       36,065       36,219       35,433  
    Life insurance cash surrender value     58,697       58,307       57,919       57,525       55,552  
    Goodwill and core deposit intangible     20,386       20,459       20,529       20,602       20,677  
    Other assets     42,729       43,177       41,454       41,734       42,960  
                                             
    Total assets   $ 2,681,194     $ 2,609,769     $ 2,565,232     $ 2,500,545     $ 2,456,828  
                                             
    Liabilities                                        
    Non-interest-bearing deposits   $ 547,278     $ 533,286     $ 538,506     $ 522,827     $ 530,048  
    Interest-bearing deposits     1,878,548       1,826,957       1,769,265       1,702,187       1,670,211  
    Total deposits     2,425,826       2,360,243       2,307,771       2,225,014       2,200,259  
    Short-term borrowings     10       22       10,326       37,220       28,477  
    Secured borrowings     6,162       6,226       6,297       6,429       7,269  
    Other liabilities     36,050       34,937       34,695       31,999       30,734  
    Total liabilities     2,468,048       2,401,428       2,359,089       2,300,662       2,266,739  
                                             
    Shareholders’ equity     213,146       208,341       206,143       199,883       190,089  
                                             
    Total liabilities and shareholders’ equity   $ 2,681,194     $ 2,609,769     $ 2,565,232     $ 2,500,545     $ 2,456,828  
    FIDELITY D & D BANCORP, INC.
    Selected Financial Ratios and Other Financial Data
        Three Months Ended  
        Jun. 30, 2025     Mar. 31, 2025     Dec. 31, 2024     Sep. 30, 2024     Jun. 30, 2024  
    Selected returns and financial ratios                                        
    Basic earnings per share   $ 1.20     $ 1.04     $ 1.02     $ 0.87     $ 0.86  
    Diluted earnings per share   $ 1.20     $ 1.03     $ 1.01     $ 0.86     $ 0.86  
    Dividends per share   $ 0.40     $ 0.40     $ 0.40     $ 0.38     $ 0.38  
    Yield on interest-earning assets (FTE)*     4.77 %     4.73 %     4.68 %     4.68 %     4.58 %
    Cost of interest-bearing liabilities     2.52 %     2.49 %     2.60 %     2.70 %     2.58 %
    Cost of funds     1.95 %     1.93 %     2.00 %     2.08 %     1.96 %
    Net interest spread (FTE)*     2.25 %     2.24 %     2.08 %     1.98 %     2.00 %
    Net interest margin (FTE)*     2.92 %     2.89 %     2.78 %     2.70 %     2.71 %
    Return on average assets     1.04 %     0.93 %     0.90 %     0.79 %     0.81 %
    Pre-provision net revenue to average assets*     1.28 %     1.16 %     1.06 %     1.05 %     1.00 %
    Return on average equity     13.02 %     11.66 %     11.26 %     9.89 %     10.44 %
    Return on average tangible equity*     14.40 %     12.93 %     12.50 %     11.02 %     11.72 %
    Efficiency ratio (FTE)*     61.17 %     61.67 %     65.48 %     65.33 %     66.47 %
    Expense ratio     1.40 %     1.37 %     1.48 %     1.41 %     1.47 %
        Six months ended  
        Jun. 30, 2025     Jun. 30, 2024  
    Basic earnings per share   $ 2.24     $ 1.74  
    Diluted earnings per share   $ 2.23     $ 1.73  
    Dividends per share   $ 0.80     $ 0.76  
    Yield on interest-earning assets (FTE)*     4.75 %     4.55 %
    Cost of interest-bearing liabilities     2.51 %     2.54 %
    Cost of funds     1.94 %     1.95 %
    Net interest spread (FTE)*     2.24 %     2.01 %
    Net interest margin (FTE)*     2.91 %     2.70 %
    Return on average assets     0.98 %     0.82 %
    Pre-provision net revenue to average assets*     1.22 %     0.98 %
    Return on average equity     12.35 %     10.57 %
    Return on average tangible equity*     13.68 %     11.87 %
    Efficiency ratio (FTE)*     61.42 %     67.01 %
    Expense ratio     1.38 %     1.49 %
    Other financial data   At period end:  
    (dollars in thousands except per share data)   Jun. 30, 2025     Mar. 31, 2025     Dec. 31, 2024     Sep. 30, 2024     Jun. 30, 2024  
    Assets under management   $ 1,030,268     $ 955,647     $ 921,994     $ 942,190     $ 906,861  
    Book value per share   $ 37.78     $ 36.70     $ 35.56     $ 36.13     $ 34.12  
    Tangible book value per share*   $ 34.25     $ 33.16     $ 31.98     $ 32.55     $ 30.52  
    Equity to assets     8.08 %     7.81 %     7.89 %     7.92 %     7.83 %
    Tangible common equity ratio*     7.38 %     7.11 %     7.16 %     7.19 %     7.06 %
    Allowance for credit losses on loans to:                                        
    Total loans     1.09 %     1.10 %     1.09 %     1.09 %     1.10 %
    Non-accrual loans   6.50x     3.36x     2.68x     2.77x     2.75x  
    Non-accrual loans to total loans     0.17 %     0.33 %     0.41 %     0.39 %     0.40 %
    Non-performing assets to total assets     0.13 %     0.23 %     0.30 %     0.29 %     0.28 %
    Net charge-offs to average total loans     0.05 %     0.02 %     0.03 %     0.02 %     0.03 %
                                             
    Capital Adequacy Ratios                                        
    Total risk-based capital ratio     14.72 %     14.74 %     14.78 %     14.56 %     14.69 %
    Common equity tier 1 risk-based capital ratio     13.57 %     13.57 %     13.60 %     13.38 %     13.52 %
    Tier 1 risk-based capital ratio     13.57 %     13.57 %     13.60 %     13.38 %     13.52 %
    Leverage ratio     9.16 %     9.22 %     9.22 %     9.30 %     9.30 %

    * Non-GAAP Financial Measures – see reconciliations below

    FIDELITY D & D BANCORP, INC.
    Reconciliations of Non-GAAP Financial Measures to GAAP
    Reconciliations of Non-GAAP Measures to GAAP   Three Months Ended  
    (dollars in thousands)   Jun. 30, 2025     Mar. 31, 2025     Dec. 31, 2024     Sep. 30, 2024     Jun. 30, 2024  
    FTE net interest income (non-GAAP)                                        
    Interest income (GAAP)   $ 29,765     $ 28,308     $ 28,059     $ 27,299     $ 26,039  
    Adjustment to FTE     760       771       764       775       751  
    Interest income adjusted to FTE (non-GAAP)     30,525       29,079       28,823       28,074       26,790  
    Interest expense (GAAP)     11,836       11,275       11,685       11,868       10,922  
    Net interest income adjusted to FTE (non-GAAP)   $ 18,689     $ 17,804     $ 17,138     $ 16,206     $ 15,868  
                                             
    Efficiency Ratio (non-GAAP)                                        
    Non-interest expenses (GAAP)   $ 14,710     $ 14,554     $ 14,395     $ 13,840     $ 13,616  
                                             
    Net interest income (GAAP)     17,929       17,033       16,374       15,431       15,117  
    Plus: taxable equivalent adjustment     760       771       764       775       751  
    Non-interest income (GAAP)     5,359       4,973       4,847       4,979       4,615  
    Plus: Loss on sales of securities     –       822       –       –       –  
    Net interest income (FTE) plus adjusted non-interest income (non-GAAP)   $ 24,048     $ 23,599     $ 21,985     $ 21,185     $ 20,483  
    Efficiency ratio (non-GAAP) (1)     61.17 %     61.67 %     65.47 %     65.33 %     66.48 %
    (1) The reported efficiency ratio is a non-GAAP measure calculated by dividing non-interest expense by the sum of net interest income, on an FTE basis, and adjusted non-interest income.                                        
                                             
    Tangible Book Value per Share/Tangible Common Equity Ratio (non-GAAP)                                        
    Total assets (GAAP)   $ 2,698,575     $ 2,711,310     $ 2,584,616     $ 2,615,933     $ 2,500,645  
    Less: Intangible assets     (20,364 )     (20,431 )     (20,504 )     (20,576 )     (20,649 )
    Tangible assets     2,678,211       2,690,879       2,564,112       2,595,357       2,479,996  
    Total shareholders’ equity (GAAP)     217,912       211,674       203,969       207,261       195,692  
    Less: Intangible assets     (20,364 )     (20,431 )     (20,504 )     (20,576 )     (20,649 )
    Tangible common equity     197,548       191,243       183,465       186,685       175,043  
                                             
    Common shares outstanding, end of period     5,767,490       5,767,500       5,736,252       5,736,025       5,735,728  
    Tangible Common Book Value per Share   $ 34.25     $ 33.16     $ 31.98     $ 32.55     $ 30.52  
    Tangible Common Equity Ratio     7.38 %     7.11 %     7.16 %     7.19 %     7.06 %
                                             
    Pre-Provision Net Revenue to Average Assets                                        
    Income before taxes (GAAP)   $ 8,258     $ 7,082     $ 6,661     $ 5,760     $ 5,701  
    Plus: Provision for credit losses     320       370       165       810       415  
    Total pre-provision net revenue (non-GAAP)     8,578       7,452       6,826       6,570       6,116  
    Total (annualized) (non-GAAP)   $ 34,404     $ 30,220     $ 27,157     $ 26,423     $ 24,600  
                                             
    Average assets   $ 2,681,194     $ 2,609,769     $ 2,565,232     $ 2,500,545     $ 2,456,828  
    Pre-Provision Net Revenue to Average Assets (non-GAAP)     1.28 %     1.16 %     1.06 %     1.05 %     1.00 %
    Reconciliations of Non-GAAP Measures to GAAP   Six months ended  
    (dollars in thousands)   Jun. 30, 2025     Jun. 30, 2024  
    FTE net interest income (non-GAAP)                
    Interest income (GAAP)   $ 58,073     $ 51,665  
    Adjustment to FTE     1,531       1,497  
    Interest income adjusted to FTE (non-GAAP)     59,604       53,162  
    Interest expense (GAAP)     23,111       21,604  
    Net interest income adjusted to FTE (non-GAAP)   $ 36,493       31,558  
                     
    Efficiency Ratio (non-GAAP)                
    Non-interest expenses (GAAP)   $ 29,264     $ 27,306  
                     
    Net interest income (GAAP)     34,962       30,061  
    Plus: taxable equivalent adjustment     1,531       1,497  
    Non-interest income (GAAP)     10,332       9,188  
    Plus: Loss on sales of securities     822       –  
    Net interest income (FTE) plus non-interest income (non-GAAP)   $ 47,647     $ 40,746  
    Efficiency ratio (non-GAAP) (1)     61.42 %     67.01 %
    (1) The reported efficiency ratio is a non-GAAP measure calculated by dividing non-interest expense by the sum of net interest income, on an FTE basis, and adjusted non-interest (loss) income.                
                     
    Pre-Provision Net Revenue to Average Assets                
    Income before taxes (GAAP)   $ 15,340     $ 11,453  
    Plus: Provision for credit losses     690       490  
    Total pre-provision net revenue (non-GAAP)   $ 16,030     $ 11,943  
    Total (annualized) (non-GAAP)   $ 32,326     $ 23,951  
                     
    Average assets   $ 2,645,679     $ 2,453,998  
    Pre-Provision Net Revenue to Average Assets (non-GAAP)     1.22 %     0.98 %
       
    Contacts:  
    Daniel J. Santaniello Salvatore R. DeFrancesco, Jr.
    President and Chief Executive Officer Treasurer and Chief Financial Officer
    570-504-8035 570-504-8000

    The MIL Network –

  • MIL-OSI: Next Hydrogen Announces Aggregate of $1.5 million in Loans and Provides Corporate Update

    Source: GlobeNewswire (MIL-OSI)

    MISSISSAUGA, Ontario, July 23, 2025 (GLOBE NEWSWIRE) — Next Hydrogen Solutions Inc. (the “Company” or “Next Hydrogen”) (TSXV:NXH, OTC:NXHSF), is pleased to announce that it is entering into a loan agreement with certain existing directors and officers of the Company (the “Lenders”) providing for the advance of an unsecured loan (the “Loan”) bearing interest at 5.0% per annum in the principal amount of $530,000. The Loan shall mature on the date that is one year from the advance of the Loan (the “Maturity Date”).   In conjunction with the advance of the Loan, the Company will also pay a set-up fee of $20,000 to the Lenders.

    The advance of the Loan is expected to take place on July 23, 2025, immediately prior to the advance of a $1 million loan from an arm’s length commercial lender (the “Original Loan”) that is being negotiated between the Company and such lender. There can be no assurances that the Original Loan will be completed as proposed or at all.

    In consideration of the advance of the Loan by the Lenders, the Company shall, subject to the approval of the TSX Venture Exchange (the “TSXV”) in accordance with the policies of the TSXV, issue to the Lenders, an aggregate of 214,140 common shares of the Company (“Common Shares”) at a deemed price of $0.495 per share as bonus shares (the “Loan Bonus Shares”), representing approximately 20% of the principal amount of the Loan, subject to adjustment in accordance with the policies of the TSXV.

    In addition, subject to the approval of the TSXV in accordance with the policies of the TSXV, the Loan may be converted into Common Shares (the “Conversion Shares”) at the option of the Company, in whole or in part, on the earlier of the Maturity Date or the closing of an offering of equity securities of the Company.

    Next Hydrogen intends to use the proceeds of the Loan and the Original Loan for working capital and general corporate purposes. The Loan and the Original Loan will assist the Company in bridging its financial position in order to keep its talented team and continue operations while it evaluates longer term financial and strategic solutions.

    In conducting its review of financial and strategic solutions, the Company’s board and management team are committed to acting in the best interests of the Company, its shareholders and its stakeholders. There is no deadline or definitive timetable for the completion of the review of financial and strategic solutions, and the Company does not intend to comment further unless the Company’s board has approved a specific transaction or otherwise determined that disclosure is necessary or appropriate. There can be no assurances that the review will result in any specific transaction or outcome.

    This issuance of the Loan Bonus Shares and the Conversion Shares, if applicable, are subject to receipt of all required regulatory approvals, including that of the TSXV. The TSXV has in no way passed upon the merits of the Loan or the Original Loan and has neither approved nor disapproved the contents of this press release.

    All moneys quoted in this press release shall be stated and paid in the lawful money of Canada.

    The Company also advises that the last day of trading of the Common Shares on the OTCQX will be Thursday, July 24, 2025.

    The Lenders consist of Allan MacKenzie, Anthony Guglielmin, Adarsh Mehta, Jens Peter Clausen, Susan Uthayakumar and Walter Howard, each a director of the Company, Raveel Afzaal, the Chief Executive Officer and a director of the Company and Rohan Advani, the Chief Financial Officer of the Company. Each Lender is an Insider of the Company (as such term is defined under the policies of the TSXV) and the participation of Insiders in the Loan would constitute a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to section 5.5(b) as the Company is not listed on a specified market and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(b), based on a determination that the fair market value of the Loan, insofar as it involves the related parties, will not exceed $2,500,000. The Company did not file a material change report 21 days prior to the expected closing date of the Loan as closing occurred on an expedited basis. An aggregate of 214,140 Loan Bonus Shares will be issued to the Lenders which in the aggregate represents less than 1.0% of the issued and outstanding Common Shares.

    About Next Hydrogen

    Founded in 2007, Next Hydrogen is a designer and manufacturer of electrolyzers that use water and electricity as inputs to generate clean hydrogen for use as an energy source. Next Hydrogen’s unique cell design architecture supported by 40 patents enables high current density operations and superior dynamic response to efficiently convert intermittent renewable electricity into green hydrogen on an infrastructure scale. Following successful pilots, Next Hydrogen is scaling up its technology to deliver commercial solutions to decarbonize transportation and industrial sectors.

    Contact Information

    Raveel Afzaal, President and Chief Executive Officer
    Next Hydrogen Solutions Inc.
    Email: rafzaal@nexthydrogen.com
    Phone: 647-961-6620

    www.nexthydrogen.com

    Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

    Cautionary Statements

    This news release contains “forward-looking information” and “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes”, or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the risk that the Loan and the Original Loan will not be completed as planned or at all; changes to the use of proceeds of the Loan and the Original Loan, risks associated with the pursuit of any financial or strategic transaction or the completion thereof, the risks associated with the hydrogen industry in general; delays or changes in plans with respect to infrastructure development or capital expenditures; uncertainty with respect to the timing of any contemplated transactions or partnerships, or whether such contemplated transactions or partnerships will be completed at all; the timing for any submissions or correspondences with applicable securities laws regulators; whether the uncertainty of estimates and projections relating to costs and expenses; failure to obtain timely necessary regulatory approvals and all required TSXV approvals; health, safety and environmental risks; uncertainties resulting from potential delays or changes in plans with respect to infrastructure developments or capital expenditures; currency exchange rate fluctuations; as well as general economic conditions, stock market volatility; and the ability to access sufficient capital. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, there will be no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.

    The MIL Network –

  • MIL-OSI: Bitget Partners with KOL to Drive Blockchain and AI Growth in Southeast Asia

    Source: GlobeNewswire (MIL-OSI)

    KUALA LUMPUR, Malaysia, July 23, 2025 (GLOBE NEWSWIRE) — Bitget, the world’s leading cryptocurrency exchange and Web3 company, partnered with Indian crypto thought leader Pushpendra Singh to support a landmark Blockchain & AI Summit in Southeast Asia—further strengthening its role as a global enabler of the decentralized tech ecosystem.

    The summit was organized in collaboration with the Consortium of Indian Industries in Malaysia (CIIM). It brought together builders, investors, and leaders from India, South Asia, the Middle East, Singapore, China, and beyond, establishing Malaysia as an up-and-coming regional hub for blockchain and AI collaboration. The event included keynotes, panel discussions, and interactive sessions aimed at promoting innovation and the responsible adoption of Web3 technologies.

    “Having a prominent Indian KOL like Pushpendra lead a Blockchain and AI Summit in Malaysia highlights the global and collaborative nature of this industry. At Bitget, our mission is to empower and scale these ecosystems wherever they develop,” said Jyotsna Hirdyani, South Asia Head at Bitget.

    Bitget KOL Pushpendra Singh taking the stage at the Blockchain & AI Summit

    Pushpendra expressed a similar viewpoint, emphasizing that Malaysia’s rising status as a premier destination for both technology and tourism makes it an ideal location for a globally diverse gathering. “This event wasn’t solely focused on Web3; it was also about uniting various voices under one shared vision. Malaysia is quickly becoming a hub where innovation meets opportunity, and we take pride in working to help shape that narrative,” he shared.

    The partnership shows Bitget’s continued efforts to advance inclusivity, education, and grassroots leadership in nascent cryptocurrency communities. One region, one builder, and one summit at a time, Bitget is dedicated to offering the platforms, tools, and collaborations that propel the industry forward as blockchain and AI continue to converge.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform.
    Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP™, one of the world’s most thrilling championships.

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/64aba109-89d5-46a4-a8b1-ccef7eb91ad5

    https://www.globenewswire.com/NewsRoom/AttachmentNg/695b5285-5250-427c-9886-20d016670456

    The MIL Network –

  • MIL-Evening Report: Indonesian military set to complete Trans-Papua Highway under Prabowo’s rule

    By Julian Isaac

    The Indonesian Military (TNI) is committed to supporting the completion of the Trans-Papua Highway during President Prabowo Subianto’s term in office.

    While the military is not involved in construction, it plays a critical role in securing the project from threats posed by pro-independence Papuan resistance groups in “high-risk” regions.

    Spanning a total length of 4330 km, the Trans-Papua road project has been under development since 2014.

    However, only 3446 km of the national road network has been connected after more than a decade of construction.

    “Don’t compare Papua with Jakarta, where there are no armed groups. Papua is five times the size of Java, and not all areas are secure,” TNI spokesman Major-General Kristomei Sianturi told a media conference at the Ministry of Public Works on Monday.

    One of the currently active segments is the Jayapura–Wamena route — specifically the Mamberamo–Elim section, which stretches 50 km.

    The project is being carried out through a public-private partnership and was awarded to PT Hutama Karya, with an investment of Rp3.3 trillion (about US$202 million) and a 15-year concession. The segment is expected to be completed within two years, targeting finalisation next year.

    Security an obstacle
    General Kristomei said that one of the main obstacles was security in the vicinity of construction sites.

    Out of 50 regencies/cities in Papua, at least seven are considered high-risk zones. Since its inception, the Trans-Papua road project has claimed 17 lives, due to clashes in the region.

    In addition to security challenges, the delivery of construction materials remains difficult due to limited infrastructure.

    “Transporting goods from one point to another in Papua is extremely difficult because there are no connecting roads. We’re essentially building from scratch,” General Kristomei said.

    In May 2024, President Joko Widodo convened a limited cabinet meeting at the Merdeka Palace to discuss accelerating development in Papua. The government agreed on the urgent need to improve education, healthcare, and security in the region.

    The Minister of National Development Planning, Suharso Monoarfa, announced that the government would ramp up social welfare programmes in Papua in coordination with then Vice-President Ma’ruf Amin, who chairs the Agency for the Acceleration of Special Autonomy in Papua (BP3OKP).

    ‘Welfare based approaches’
    “We are gradually implementing welfare-based approaches, including improvements in education and health, with budgets already allocated to the relevant ministries and agencies,” Suharso said in May last year.

    As of March 2023, the Indonesian government has disbursed Rp 1,036 trillion for Papua’s development.

    This funding has supported major infrastructure initiatives such as the 3462 km Trans-Papua Highway, 1098 km of border roads, the construction of the 1.3 km Youtefa Bridge in Jayapura, and the renovation of Domine Eduard Osok Airport in Sorong.

    Republished from the Indonesia Business Post.

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI United Kingdom: ASC commissions: letters to Lord Hanson

    Source: United Kingdom – Executive Government & Departments

    Correspondence

    ASC commissions: letters to Lord Hanson

    Letters from the Chair of the Animals in Science Committee to the Lords Minister about timescales and scope for commissioned advice.

    Documents

    Timescales for ASC commissions: letter to Lord Hanson (accessible)

    HTML

    Timescales for ASC commissions: letter to Lord Hanson

    PDF, 114 KB, 2 pages

    Refining the scope for commissioned advice: letter to Lord Hanson (accessible)

    HTML

    Refining the scope for commissioned advice: letter to Lord Hanson

    PDF, 123 KB, 2 pages

    Details

    Dr Sally Robinson, Chair of the Animals in Science Committee, wrote to David Hanson, Lords Minister, on 27 June 2025.

    She provided an update on the committee’s progress with commissioned advice and requested an extension to the deadlines for the commissions on strengthening leading practice, and strengthening the functioning of Animal Welfare and Ethical Review Bodies (AWERBs) and the Named Information Officer (NIO).

    On 8 July 2025, she followed up with proposals for the refined scope of the commission on strengthening the functioning of AWERBs and the NIO.

    Lord Hanson has agreed these changes to the timescales and scope.

    Sign up for emails or print this page

    MIL OSI United Kingdom –

  • MIL-OSI Russia: Moscow Metro Tests Neurovoice in Audio Messages

    Translation. Region: Russian Federal

    Source: Moscow Metro

    Moscow Metro Tests Neurovoice in Audio Messages

    Artificial intelligence is being gradually introduced into the capital’s transport system. For example, since the beginning of the year, the neural network has been helping the chatbot Alexander answer passengers’ questions. Now, as part of a pilot project, AI will help Moscow metro announcers in their work.


    Moscow metro tests neurovoice in audio messages.

    As Maxim Liksutov explained, audio information is one of the most important ways of communicating with passengers. Sometimes something changes in the metro: an escalator is closed for repairs or trains take a different route. An announcement must be promptly prepared for each situation. Neurovoice will help solve this problem in a matter of minutes.

    The required audio file can be created remotely. Specialists only need to: 1) prepare the text; 2) upload it to the program; 3) adjust the voice – select the timbre, intonation and length of pauses. It is noteworthy that the AI was trained on real recordings of metro announcers.

    The neurovoice testing will take place on the Sokolnicheskaya line, where there are many transfers to the Moscow Central Circle, Moscow Central Diameters, other metro lines, bus and railway stations. Komsomolskaya is also located here, the leading station in terms of the number of transport infrastructure facilities announced by the announcers.

    Voices in neural processing allow creating prompt audio announcements in the uniform style of Moscow transport. After the pilot launch of the technology on the Sokolnicheskaya line, a decision will be made on its further use in the metro and beyond. In this case, the wishes of passengers will be taken into account. The Moscow metro continues to implement the most modern digital services, as instructed by Moscow Mayor Sergei Sobyanin, noted Maxim Liksutov.

    MIL OSI Russia News –