Blog

  • MIL-OSI Security: U.S. Marshals Task Force Arrests Alleged Sexual Predator

    Source: US Marshals Service

    Deer Park, WA – On February 10, 2025, after more than three years of evading capture, Lorenzo Eugene Delgado Martin was arrested today by the United States Marshals Service Pacific Northwest Violent Offender Task Force (PNVOTF). Martin, 35, was taken into custody at his residence in Deer Park, Washington, in coordination with the Spokane County Sheriff’s Office, United States Border Patrol (USBP), and the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF).

    Martin has been the subject of a nationwide search after the State of Oregon for the County of Jackson, issued two arrest warrants for him. He is facing a total of 18 charges, including 13 counts of Sexual Assault in the 1st Degree, two counts of Sodomy in the 1st Degree, two counts of Private Indecency, and one count of Sexual Penetration in the 1st Degree. The charges stem from allegations involving two victims, of whom were both reportedly under the age of 14 at the time of the alleged abuse. The victims claim they were subjected to abuse for several years.

    The U.S. Marshals Service Pacific Northwest Violent Offender Task Force – Oregon, worked tirelessly to track down Martin, following leads across multiple states, ultimately locating him in Deer Park.

    “The capture of Martin is a significant achievement for law enforcement in our ongoing commitment to seeking justice for victims of violent crimes. Thanks to the combined efforts of the U.S. Marshals Service PNVOTF, Spokane County Sheriff’s Office, USBP, and ATF, this individual is now off the streets and will face the legal consequences of his actions,” said Craig Thayer the U.S. Marshal for the Eastern District of Washington.

    Martin is currently being held in custody at the Spokane County Jail pending extradition to Oregon.

    The Pacific Northwest Violent Offender Task Force is a U.S. Marshals-led partnership comprising federal, state, and local law enforcement officers from Washington, Oregon, and Alaska. The task force’s primary mission is to locate, arrest and return to the justice system the most violent and egregious federal and state fugitives.

    Anyone with information is urged to contact the nearest U.S. Marshals office, the U.S. Marshals Service Communications Center at 1-800-336-0102, or USMS Tips.

    MIL Security OSI

  • MIL-OSI: PURE WALLET: The World’s First ISO-Certified Offline Blockchain Wallet By Pure Wallet LLC & NS Lab

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, Feb. 10, 2025 (GLOBE NEWSWIRE) — Pure Wallet LLC is pleased to announce the introduction of its new blockchain transaction system, which utilizes patented offline technology to facilitate decentralized digital payments and asset storage. The system is designed to address several challenges associated with traditional blockchain transactions, including dependency on internet connectivity, gas fees, and reliance on hardware-based cold storage solutions.

    At its core, Pure Wallet’s technology provides an alternative approach by enabling users to conduct transactions without an active internet connection, a feature intended to extend the accessibility of blockchain services to areas with limited connectivity. In addition, the platform eliminates gas fees, significantly reducing transaction costs for frequent users. The solution has been developed to offer a high level of security, supported by ISO 27001 certification, while removing the need for dedicated hardware devices commonly required by conventional cold storage systems.

    According to the company, Pure Wallet’s system is engineered to simplify blockchain transactions while maintaining robust security measures. This approach may offer an alternative to established cold storage providers in a market that has traditionally depended on hardware solutions from companies such as Ledger and Trezor. With its streamlined design and focus on operational efficiency, Pure Wallet aims to provide a practical method for managing digital assets, particularly in environments where access to the internet is intermittent or unavailable.

    Revolutionizing Blockchain Payments & Cold Storage

    Pure Wallet overcomes the major limitations of blockchain payments—gas fees, slow speeds, and reliance on the internet. With its revolutionary security, cost-efficiency, and offline functionality, it is poised to disrupt both the payments and cold storage markets, making blockchain transactions truly practical for everyday use.

    Designed for ease of use, Pure Wallet offers a straightforward transaction experience, eliminating the delays and costs often encountered in conventional blockchain operations. By removing common barriers, the platform could enable broader adoption of blockchain technology, particularly for microtransactions. The company anticipates that its solution will be of interest to both end-users and investors, contributing to the evolution of digital asset management.

    For Further Details, Please Visit: https://Purewallet.ai.  

    About Pure Wallet LLC

    Pure Wallet LLC is a technology firm dedicated to advancing decentralized digital transactions and secure asset storage. Founded by Andrew Cha and Dr. Dong Seong Kim, the founder and CEO of NS Lab, the company has developed a blockchain solution that leverages patented offline transaction technology and ISO 27001-certified security protocols. The platform is designed to provide cost-effective, secure, and user-friendly blockchain transactions without the limitations of traditional hardware-dependent systems.

    https://purewallet.ai/  

    Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

    The MIL Network

  • MIL-OSI: Hut 8 Schedules Full-Year 2024 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Feb. 10, 2025 (GLOBE NEWSWIRE) — Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, today announced it will release financial results for the full year of 2024 before the market opens on March 3, 2025. The Company will host a conference call and webcast to review the results on the same day at 8:30 a.m. ET.

    Conference Call and Webcast Details

    Date: Monday, March 3, 2025
    Time: 8:30 a.m. ET

    Investors can join the live webcast here. Analysts can register here.

    Supplemental Materials and Upcoming Communications

    The Company expects to make available on its website materials designed to accompany the discussion of its results, along with certain supplemental financial information and other data. For important news and information regarding the Company, including investor presentations and timing of future investor conferences, visit the Investor Relations section of the Company’s website, https://hut8.com/investors, and its social media accounts, including on X and LinkedIn. The Company uses its website and social media accounts as primary channels for disclosing key information to its investors, some of which may contain material and previously non-public information.

    Upcoming Conferences and Events

    • February 12, 2025: Maxim Group Digital Assets 2025: To Bitcoin and Beyond Conference, Virtual
    • February 24–25, 2025: Capacity Media Metro Connect USA, Fort Lauderdale
    • February 24–28, 2025: Bitcoin Investor Week, New York
    • February 25–27, 2025: Infocast ERCOT Market Summit, Austin
    • March 11–12, 2025: Cantor Crypto, Digital Assets & AI Infrastructure Conference, Miami
    • March 16–18, 2025: 37th Annual ROTH Conference, Dana Point

    About Hut 8

    Hut 8 Corp. is an energy infrastructure operator and Bitcoin miner with self-mining, hosting, managed services, and traditional data center operations across North America. Headquartered in Miami, Florida, Hut 8 Corp. has a portfolio comprising fifteen sites: five Bitcoin mining, hosting, and Managed Services sites in Alberta, New York, and Texas, five high performance computing data centers in British Columbia and Ontario, four power generation assets in Ontario, and one non-operational site in Alberta. For more information, visit www.hut8.com and follow us on X (formerly known as Twitter) at @Hut8Corp.

    Hut 8 Investor Relations
    Sue Ennis
    ir@hut8.com

    Hut 8 Media Relations
    media@hut8.com

    The MIL Network

  • MIL-OSI: Flow Capital Announces Performance Stock Unit Grant

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 10, 2025 (GLOBE NEWSWIRE) — Flow Capital Corp. (TSXV:FW) (“Flow Capital”) has announced the issuance of 100,000 new Performance Stock Units (PSU’s) to certain officers of the Company under its omnibus long term incentive plan.  The PSU’s will vest upon the attainment of certain performance criteria including certain levels of share price and certain levels of free cash flow.

    About Flow Capital 

    Flow Capital Corp. is a publicly listed growth venture debt lender dedicated to supporting high-growth companies. Since its inception in 2018, the Company has provided financing to businesses in the U.S., the U.K., and Canada, helping them achieve accelerated growth without the dilutive impact of equity financing or the complexities of traditional bank loans. Flow Capital focuses on revenue-generating companies seeking $2 to $10 million in capital to drive their continued expansion. For more information on Flow Capital, please visit  www.flowcap.com.

    For further information, please contact:

    Flow Capital Corp.

    Alex Baluta
    ‎Chief Executive Officer
    alex@flowcap.com

    47 Colborne Street, Suite 303,
    ‎Toronto, Ontario M5E 1P8

    Forward-Looking Information and Statements

    Certain statements herein may be “forward-looking” statements that involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of Flow or the industry to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether such results will be achieved. A number of factors could cause actual results to vary significantly from the results discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events and operating performance and are made as of the date hereof. Flow assumes no obligation, except as required by law, to update any forward-looking statements to reflect new events or circumstances.

    The MIL Network

  • MIL-OSI Economics: Launch of Action Plan for Anti-Money Laundering and Combatting Illicit Financial Flows

    Source: African Development Bank Group

    What:        Launch of Action Plan for Anti-Money Laundering and Combatting Illicit Financial Flows  

    Who:         The African Development Bank Group

    When:       February 25, 2025; 10:45 AM – 1:25 PM (GMT)

    Where:      Virtual event via Zoom

    The African Development Bank will launch its new three-year Action Plan for Anti-Money Laundering and Combating Illicit Financial Flows (2024-2026) through an online event on February 25, 2025. The event will bring together experts to discuss practical solutions for protecting Africa’s financial resources from criminal activities.

    Research shows that Africa’s losses from illicit financial flows have nearly doubled from $50 billion annually in 2015 to $90 billion in 2020. This represents 3.7% of the continent’s total economic output and nearly equals the combined foreign investment and aid Africa receives each year.

    While money laundering and illicit financial flows affect all countries, their impact hits African countries hardest, especially those recovering from conflict or with limited resources. These activities weaken governments and threaten security, often funding long-running conflicts and making it harder for countries to collect revenue and generate resources.

    The new action plan will provide a framework to help African countries build stronger systems to detect and prevent money laundering and illicit financial flows. It will showcase the importance of collaboration between the Bank, regional member countries, and development partners to combat financial crimes.

    Member countries and regional and international experts will share their experiences fighting money laundering and illicit financial flows. They will discuss how the Action Plan can strengthen these efforts. The discussion will show how stopping financial losses can increase local revenues, support economic stability, and promote sustainable development across Africa.

    MIL OSI Economics

  • MIL-OSI USA: News 02/10/2025 Blackburn, Baldwin Introduce Bipartisan Bill to Support Tennessee Small Dairy Businesses

    US Senate News:

    Source: United States Senator Marsha Blackburn (R-Tenn)

    WASHINGTON, D.C. – U.S. Senators Marsha Blackburn (R-Tenn.) and Tammy Baldwin (D-Wisc.) introduced the Dairy Business Innovation Act to strengthen the Dairy Business Innovation Initiatives (DBII) to help more American dairy farmers and processors add value to their businesses, including creating new products, expanding their markets, and modernizing their production facilities:

    “The dairy industry is an essential part of the American economy. It is crucial that we provide the resources that dairies in Tennessee need to expand and create new products,” said Senator Blackburn. “With many small Tennessee dairies struggling to remain open, this bill will allow these businesses to diversify and expand their market competitiveness.”

    “My Dairy Business Innovation Initiative has helped Wisconsin dairy farmers, producers, and cheesemakers grow their operations, tap into new markets, and innovate new products,” said Senator Baldwin. “From expanding facilities and growing their operations to improving packaging and lowering their shipping costs, this program has helped Wisconsin businesses grow their bottom lines and create jobs in our rural communities. I’m fighting to expand this vital program so more farmers, cheesemakers, and dairy processors have the tools to innovate and drive our rural economy forward.”

    DAIRY BUSINESS INNOVATION ACT:

    • The DBII program was created in the 2018 Farm Bill, establishing multiple dairy business and innovation centers to serve producers across the country. These centers, in partnership with dairy farmers and processors, are spurring innovation in dairy businesses, fostering the development of new dairy products and modernizing existing dairy plants. As a result, the program has gone on to add value to the milk produced by American farmers and expand their market access.
    • Each regional initiative is tasked with providing technical assistance and grants to farmers and processors, including:
      • Supporting new and expanding dairy businesses—Centers provide assistance with business plan development, accounting, market evaluation, and strategic planning.
      • Promoting innovation in dairy products—Dairy businesses receive assistance with product innovation, marketing and branding, packaging, distribution, supply chain innovation, food safety training and consultation, and dairy product production training.
      • Assisting with dairy plant modernization and process improvement—Dairy businesses receive assistance with processing facility improvement, including assistance with plant upgrades, food safety modernization, energy and water efficiency, byproduct reprocessing and use maximization, and waste treatment.
    • The Dairy Business Innovation Act builds on the support for regional dairy research and innovation centers across the country by raising the program’s annual authorization from $20 million to $36 million.

    ENDORSEMENTS:

    The legislation is endorsed by the Tennessee Farm Bureau FederationUniversity of Tennessee Institute of AgricultureNational Milk Producers FederationOrganic Valley, and International Dairy Foods Association

    “Tennessee’s dairy farmers are an integral part of our rural economy and provide wholesome, nutritious milk products to consumers. We thank Senators Blackburn and Baldwin for filing the Dairy Business Innovation Initiative which will be a successful opportunity for dairy farmers to add value to their milk and increase on-farm profitability. Further investments into DBII can create increased opportunities for consumers to access local dairy products and support their regional agricultural economy.” – Eric Mayberry, President of the Tennessee Farm Bureau Federation 

    “We are grateful to Senators Blackburn and Baldwin for their support of the Dairy Business Innovation Act. It has had a historic impact on our Tennessee dairy industry and the development of the new Center for Dairy Advancement and Sustainability at the University of Tennessee. These resources will continue to help UTIA provide Real.Life.Solutions. to producers and processors across the region. Additionally, it has provided us with new partnership opportunities around the country.” – Dr. Keith Carver, Senior Vice Chancellor and Senior Vice President of the University of Tennessee Institute of Agriculture 

    “The Dairy Business Innovation Act continues to be a critical tool for dairy farms and processors across the Southeast region to overcome a history of low income, limited reinvestment into existing businesses, and high barriers to entry for new dairy businesses. As the program manager for the Southeast region, the University of Tennessee Institute of Agriculture (UTIA) strongly supports the continuation and expansion of this valuable assistance to producers, processors, and the allied industries impacted by them. Since 2021, over $17 million has been directly invested into 189 dairy businesses across the 12 states and 1 territory in our region. Within Tennessee, 40 awards totaling almost $3.4 million have supported existing dairy farmers, processors, and emerging value-added dairy ventures. The funding for administration and research around the dairy industry has resulted in 5 new dairy Extension positions across Tennessee, Kentucky, and North Carolina and has increased our understanding of consumer motivations around dairy. The new Center for Dairy Advancement and Sustainability at the University of Tennessee is a direct outcome of these grants, providing a unique hub of food, animal, economic, and consumer interaction to support the dairy industry.” – Dr. Elizabeth Eckelkamp, Southeast Dairy Business Innovation Initiative Program Director and Dairy Extension Specialist at the University of Tennessee Institute of Agriculture

    “We thank Senators Baldwin and Blackburn for their continued bipartisan leadership in strengthening the Dairy Business Innovation Initiatives program. Dairy has a storied history of pioneering effective new products and practices as dairy farmers and their cooperatives work to supply the U.S. and the world with nutritious, sustainably produced food. This program helps support researchers and their industry partners working to drive this innovation forward.” – Gregg Doud, President and CEO of National Milk Producers Federation 

    “Senator Tammy Baldwin and Senator Marsha Blackburn should be commended for a bill that enhances the assets and investments in the U.S. the dairy industry. Dairy is an economic engine in rural communities – we at Organic Valley know dairy processors who are doing more with support from this initiative and American farmers who are better positioned to bring milk to market because of it.” – Adam Warthesen, Vice President of Government and Industry Affairs at Organic Valley

    “IDFA applauds Senators Baldwin and Blackburn for introducing the Dairy Business Innovation Act of 2025.  The bill promotes innovation in the dairy processing sector and will help industry members work together to address common challenges and create new market opportunities for healthy and nutritious dairy products.”  Michael Dykes, D.V.M., President & CEO of International Dairy Foods Association

    MIL OSI USA News

  • MIL-OSI USA: Klobuchar Statement on Cuts to Crucial Health Research Funding

    US Senate News:

    Source: United States Senator Amy Klobuchar (D-Minn)

    WASHINGTON – U.S. Senator Amy Klobuchar (D-MN) released the following statement on the proposed cut to National Institutes of Health (NIH) research grants. Today, 22 state attorneys general – including Minnesota’s – filed a lawsuit against the Trump Administration challenging this action.

    “This illegal move endangers critical clinical studies and research, and extinguishes hope for so many Americans looking for cures. At the University of Minnesota alone, it could derail life-saving medical research on cancer, Alzheimer’s and Parkinson’s diseases. NIH research also supports hundreds of thousands of jobs across the country and spurs economic growth, including nearly 8,000 jobs and $1.7 billion of economic activity in Minnesota. This lawsuit is a crucial step to reversing this illegal move that will set back medical innovation and lead to unnecessary suffering.” 

    MIL OSI USA News

  • MIL-OSI USA: Influenza A viruses adapt shape in response to environmental pressures

    Source: US Department of Health and Human Services – 2

    MIL OSI USA News

  • MIL-OSI Australia: Don’t let scammers leave you broken hearted

    Source: New South Wales Premiere

    Published: 11 February 2025

    Released by: Minister for Customer Service and Digital Government


    NSW residents searching for love this Valentine’s Day are being warned to guard their hearts – and wallets – against charming con artists posing as the real deal.

    In 2024, scammers managed to steal more than $8.9 million from NSW residents using romance scams, according to ScamWatch.                                                                               

    Fraudsters are skilled professionals at lying and deceiving their victims and seemingly there is no age limit, with all age groups represented in 798 reports of romance and dating scams last year in NSW including under 18s.

    Tips to avoid falling victim to a romance scam include:

    • Minimise the amount of personal info on your dating profile and adjust your privacy settings. Limit the disclosure of full names, addresses, work, location, and information about any children.
    • Keep conversations on the app. Online safety features on the app can only protect people while they’re using the app.
    • Look out for suspicious photos or profiles. Many dating apps now include verified photos which show a person is legitimate. An image search can also determine if a person is who they say they are.
    • Set up multi-factor authentication for accounts. Multi-factor authentication will help secure and minimise the risk of being hacked.
    • If it doesn’t feel right, trust your instincts. You don’t have to talk to someone just because you have been matched. You don’t have to agree to anything that you’re unsure about, or that makes you feel uncomfortable. It is always your decision.

    Anyone interested in learning more about scams, warning signs, and protecting their identity can sign up now for a free online event on romance scams on 14 February hosted by ID Support NSW.

    The event starts at 11:00am and will run for one hour. It will feature advice on how to spot common dating and romance scams, tools for protecting yourself and there will be opportunities to ask questions directly to experts.

    ID Support NSW also has a range of tools and information to protect people from scammers including a Data Breach Portal which checks if an email anyone has received from ID Support NSW is authentic.

    Anyone concerned about the security of personal information they store can use ID Support NSW’s Personal Information Risk Assessment Tool (PIRAT) to understand the potential risks in holding customer data. The tool can be used both proactively and in the wake of a data breach to assess risk from low to extreme based on the information’s usage and its appeal to cybercriminals.

    Book a spot in the ID Support NSW online event: www.nsw.gov.au/id-support-nsw/events/share-your-heart-and-not-your-identity-valentines-day

    Customers who want to access the Data Breach Portal can visit portal.idsupport.nsw.gov.au/s/

    To undertake a risk assessment via the PIRAT, go to www.nsw.gov.au/id-support-nsw/be-prepared/pirat

    Anyone who has experienced a scam and is seeking advice on what to do next can also call ID Support NSW on 1800 001 040 to speak with one of our advisors for personalised advice. Advisors are available from 9am to 5pm, Monday through Friday. Interpreter services are available.

    Minister for Customer Service and Digital Government, Jihad Dib said:

    “Fraudsters aren’t afraid to give you heartache this Valentine’s Day and will use sophisticated scams to try and steal from people across NSW.

    “People can protect themselves from being rorted by Romeo or jilted by Juliet by not sending money to anyone they have not met in person.

    “It’s important victims of romance scams speak up and get the help they need. ID Support NSW is here to help you – and remember, there is no shame in falling victim to a con artist.”

    Director ID Support NSW, Jacki Muir said:

    “Know the warning signs and take steps to protect yourself so you don’t fall victim to these convincing imposters.”

    MIL OSI News

  • MIL-OSI Australia: New laws strengthen penalties for antisemitism, boost protection for people attending places of worship

    Source: New South Wales Premiere

    Published: 11 February 2025

    Released by: The Premier, Attorney General


    The NSW Government will today introduce two bills to protect places of worship and further criminalise Nazi symbols, as part of a crackdown on recent racial hatred and antisemitism.

    The Crimes Amendment (Places of Worship) Bill 2025 is part of a package of reforms announced last week to give police additional powers and resources to respond to acts of racial violence and hatred.

    The latest proposed changes to the Crimes Act create two new offences to ensure people of faith can attend their place of worship in safety:

    • Intentionally blocking, impeding or hindering a person from accessing or leaving, or attempting to access or leave, a place of worship without a reasonable excuse; and
    • Harassing, intimidating or threatening a person accessing or leaving, or attempting to access or leave, a place of worship.

    The maximum penalty for the new offences is 200 penalty units and/or two years’ imprisonment.

    The Bill will also amend the Law Enforcement (Powers and Responsibilities) Act 2002 to authorise a police officer to issue a move on direction to a person who is participating in a demonstration, protest, procession or assembly occurring in or near a place of worship. This would not apply in circumstances where the relevant action is within an authorised public assembly.

    The Crimes Legislation Amendment (Racial and Religious Hatred) Bill also:

    • Clarifies that graffiti is a “public act” for the purposes of the offences of threatening or inciting violence and displaying Nazi symbols;
    • Provides for tougher sentencing for displaying by public act a Nazi symbol on or near a synagogue, the Jewish Museum or a Jewish school; and
    • Aggravates sentences when a person’s conduct is partially or wholly driven by hate.

    These reforms provide greater protection to the community against public displays of hate and crimes that may be partially motivated by hate and prejudice.

    The Department of Communities and Justice held targeted consultation on the legislation, including with faith institutions, key legal stakeholders and relevant government agencies.

    The NSW Government is currently finalising new laws on hate speech.

    NSW Premier Chris Minns said:

    “Disgusting acts of antisemitism and intimidation have no place in NSW – acts designed to divide will not work.

    “Our package is a strong response to recent antisemitism, but will also protect any person, of any religion.

    “We are sending a clear message that these disgusting attacks have to stop.”

    Attorney General Michael Daley said:

    “People of faith have the right to attend their place of worship without fear or obstruction.

    “Blocking access to a church, mosque, synagogue or other holy building is a completely unacceptable behaviour that has no place in our society. These proposed changes provide strong penalties and expand police powers to ensure people can practice their beliefs in safety.

    “The NSW Government is also expanding the criminal law to send a clear message that inciting hatred is not just unacceptable, it will soon be criminal.

    “We believe these proposed reforms strike the right balance between protecting people of faith and the community’s right to protest.”

    MIL OSI News

  • MIL-OSI Australia: App to support youth off vapes while tens of thousands of illegal products removed from community

    Source: New South Wales Premiere

    It comes as new data shows NSW Health’s youth-targeted campaign has supported or persuaded almost 40,000 young people in NSW to quit vaping.

    Meanwhile, the latest seizure data suggests a severe disruption to product availability following the introduction of laws stopping vapes at the border.

    New Pave app to support quitting vaping

    The new Pave app being launched today will provide users with helpful tips, motivation, tracking tools, distractions for when cravings hit, as well as activities and information to navigate common barriers to quitting vaping.

    It provides a daily check-in feature supporting users to reflect on their progress and a click-to-call function to connect with Quitline counsellors.

    The app was developed by the Cancer Institute NSW, and designed together with young people who vape or had recently quit vaping.

    Their experiences informed the content and user interface of the app.

    It’s free and available to download on iOS and Android.

    Campaign supports or persuades 40,000 to quit

    In January 2024, we launched the ‘Every vape is a hit to your health’ behaviour change campaign to reduce the health impact of vaping among 14 to 24 year olds in NSW – the campaign running across TV, public transport and social media.

    The campaign connects young people to information about vaping and quit support, including telephone support through the Quitline, general practitioners and now digital apps such as Pave.

    New research shows the campaign motivated 24,000 young people in NSW to quit vaping, and persuaded a further 15,000 to consider quitting.

    Research also shows that 80 per cent of young Aboriginal people who vape felt motivated to try to quit after being exposed to the campaign.

    The campaign is now entering a new phase which will highlight the health harms of vaping including nicotine addiction, lung damage, breathlessness, nicotine poisoning and burns from exploding vapes.

    These health materials are available in Cantonese, Mandarin, Vietnamese, Nepali and Arabic, and can be accessed here.

    Tens of thousands of illegal products removed from community

    Between 1 October 2024 to 31 December 2024, over 47,000 vaping products were seized from 300 inspections.

    This is compared to the same period the previous year, when just under 80,000 vaping products were seized from 238 inspections.

    Despite the higher number of inspections, the lower number of products seized is likely the result of the disruption in product availability in the market following the introduction of the commonwealth vaping laws.

    Quotes attributable to Health Minister Ryan Park:

    “I am very concerned about the prevalence of illegal vapes in our community.

    “In particular, I’m worried about the impacts it will have on the community’s health, and ultimately, our health system, long into the future.

    “This is a once-in-a-generation moment to prevent a ticking timebomb in public health.

    “Our efforts against vaping cannot be solely about enforcement – we’ve got to persuade young people to take ownership of their health, as well as clean our streets of illegal products.

    “I am encouraged by our efforts to create awareness among young people of the dangers of vaping, as well as to instil in them a desire to say no, or to quit.

    “What I’m determined to see as minister is the requisite supports to help them do it.”

    Quotes attributable to Chief Cancer Officer and CEO of Cancer Institute NSW Professor Tracey O’Brien AM

    “It’s encouraging to see that tens of thousands of young people are trying to quit vaping or thinking about doing so.

    But vaping remains a significant public health issue and the new Pave app is another option we can provide to encourage young people to seek help and stay on track on their quit journey.

    “Vaping can cause significant health harms and can be highly addictive.

    “Like cigarettes, vapes are also full of harmful chemicals that have been known to cause cancer and there is growing evidence that young people who vape are more likely to take up smoking, which can significantly increase their cancer risk.”

    “It’s important that people avoid taking up vaping or seek help to quit. While quitting can be hard, with support, taking that first step can be life changing.”

    Quotes attributable to former vaper Jillie Clarke

    “The craziest thing about vaping is that I genuinely don’t believe anyone wants to be a vaper.

    “I didn’t realise I was addicted until I tried to quit and I couldn’t.

    “But quitting vaping is 100 per cent possible, it’s a journey but every step is progress and you can do it.

    “Vaping had a noticeable impact on my breathing, it felt like my lungs were working harder than they used to and I ended up getting really sick with a lung infection.

    “What was really scary for me was learning that the impacts of vaping go beyond respiratory issues, with other damage not being felt until it’s too late – I didn’t want to risk getting to that stage.”

    MIL OSI News

  • MIL-OSI Australia: New designs on the way for the NSW Pattern Book

    Source: New South Wales Premiere

    Published: 11 February 2025

    Released by: Minister for Planning and Public Spaces


    Thirteen highly skilled design practices have been commissioned by the Minns Labor Government to contribute additional low and mid rise designs to the NSW Pattern Book.

    This is the second tranche of designs to be added to the NSW Pattern Book to make the delivery of homes in NSW faster, providing more homes for those who need them.

    Six designs for terraces, semi-detached dual occupancy and manor houses or low-rise apartment buildings will be produced alongside six designs for mid-rise residential flat buildings.

    Additionally, one landscape design practice has been commissioned to develop design guidance for the low-rise and mid-rise patterns, for both private and shared open spaces.

    Once complete, these designs will become part of the NSW Pattern Book alongside the five winners from the professional category of the NSW Housing Pattern Book Design Competition that were announced in November last year.

    The NSW Pattern Book will provide families, builders and developers with a collection of pre-approved, architecturally designed and cost-effective patterns to choose from. Those that use the designs will have access to a fast-tracked planning pathway.

    Restoring choice and diversity is at the centre of the Minns Government’s housing reforms. This means building more homes that offer people at different stages of life more options.

    The Pattern Book builds on the Minns Government recent reforms to the planning system to speed up the delivery of more homes, including:

    ·       Establishment of the Housing Delivery Authority to allow for major housing projects to be prioritised by being assessed directly by the NSW Government.

    ·       The largest rezoning in NSW history around transport hubs.

    ·       The largest ever investment in the delivery of social and affordable housing in NSW.

    ·       $200 million in financial incentives for councils that meet the new expectations for development applications, planning proposals and strategic planning. 

    ·       $450 million to build new apartments for essential workers including nurses, paramedics, teachers, allied health care workers, police officers and fire fighters. 

    For more information on the Pattern Book please visit https://www.planning.nsw.gov.au/government-architect-nsw/housing-design/nsw-housing-pattern-book.

    Minister for Planning and Public Spaces Paul Scully said:

    “Sydney is currently the second most expensive city in the world and has less housing diversity than it did a century ago. This means less optionality and less opportunity for our families, young people, workers and downsizers to live in NSW.

    “As we see the average household change and evolve, we want to make sure there are homes to suit everyone, and this means more than just single dwellings and high-rise apartments.

    “We’re not sacrificing quality for quantity as we deliver more homes, the NSW Pattern Book will have the stamp of approval from the NSW Government Architect.

    “We want new homes to be built faster, but the Pattern Book will mean those homes are good quality, sustainable and cost-effective.”

    MIL OSI News

  • MIL-OSI Australia: Transparency at the heart of strata reforms

    Source: New South Wales Premiere

    Published: 11 February 2025

    Released by: Minister for Better Regulation and Fair Trading


    Greater accountability and transparency are at the heart of new strata laws now in effect which require strata managers in NSW to be upfront with owners about kickbacks and conflicts of interest.

    The reforms give property owners better information and increase accountability for strata managers through improved transparency around their financial relationships and potential conflicts of interest.

    The expanded disclosure requirements mandate clear and timely information-sharing by strata managers.

    Under the new laws, strata managers must:

    • Disclose any connections with suppliers and developers, including the nature of the relationships
    • Provide detailed breakdowns of insurance quotes, including commissions and broker fees
    • Report in real time if any new connections or interests arise during their appointment

    Additionally, strata managers must now provide enhanced annual reports to owners corporations which detail any supplier and developer connections.

    NSW Fair Trading will be enforcing these new obligations, with strata managers required to understand and comply with the new requirements, including auditing their previous disclosure practices to identify any gaps, and implement processes to ensure timely and accurate reporting under the new requirements.

    Strata property owners are encouraged to familiarise themselves with the changes and discuss any concerns with their strata manager.

    Targeted compliance operations and education initiatives will embed recent reforms and improve consumer confidence in strata management.

    Managers who fail to meet the new disclosure obligations may face penalties of up to $110,000.

    These new rules form part of the second tranche of reforms the Government has passed through the NSW Parliament to improve the strata industry.

    A third tranche of reforms is currently being debated in the NSW Parliament and will increase accountability of developers to ensure initial strata levies are accurate so owners aren’t hit with higher fees once they move in, and will introduce financial hardship provisions for people struggling to pay their fees and protect owners from unfair contract terms. 

    For more information, visit the NSW Fair Trading website:

    https://www.fairtrading.nsw.gov.au/housing-and-property/property-professionals/working-as-a-property-agent/rules-of-conduct/disclosure-requirements

    Quotes to be attributed to Minister for Better Regulation and Fair Trading Anoulack Chanthivong:

    “These reforms are about ensuring transparency and accountability for everyone living in strata communities.

    “These enhanced disclosure requirements will give strata property owners the confidence they need to make informed decisions about their homes or investments.

    “Strata managers have an obligation to act in the best interests of their clients, which includes maintaining the trust of owners corporations. These reforms will improve oversight and ensure strata managers’ practices are open and transparent.

    “Strata owners deserve clear, timely, and honest information from their managers, and these laws provide a vital step in restoring trust and supporting better decision-making for strata communities.”

    Quotes to be attributed to Fair Trading Commissioner Natasha Mann:

    “With more than 87,000 strata schemes and more than 1.2 million people living in strata across NSW, these reforms are vital in ensuring fairness and trust for everyone living in strata communities.

    “We will be working to educate the industry on their obligations and monitor compliance with NSW strata laws, with penalties of up to $110,000 for those flouting the law.”

    MIL OSI News

  • MIL-OSI Australia: Minister Rishworth interview on 4BC Breakfast with Peter Fegan

    Source: Ministers for Social Services

    E&OE TRANSCRIPT

    Topics: Antisemitism; US tariffs on aluminium and steel; US-Australia trade relationship; NDIS; Foundational supports; Australian federal election.

    PETER FEGAN, HOST: Someone that had a front row seat to the action, Social Services Minister Amanda Rishworth. She joins me on the line. Minister, it’s great to have your company this morning.

    AMANDA RISHWORTH, MINISTER FOR SOCIAL SERVICES: Good morning. Great to be with you.

    PETER FEGAN: Antisemitism is a very touchy subject. Now, the Attorney-General has accused the Coalition of politicising antisemitism. But look, I think the sad reality is, Minister, it is a political issue, but I think it was a little childish of the Coalition yesterday to try and attempt to silence the Attorney-General because Mark Dreyfus is Jewish.

    AMANDA RISHWORTH: It was a pretty unusual circumstance. We had Mark Dreyfus getting up and talking very personally about the impact that antisemitism has had on him and his family. In fact, he has direct family members that died in the Holocaust. So, it was a really moving comment. And he was making the point how dangerous it can be to politicise. Now, to shut down the Attorney-General by moving a motion that he no longer be heard was ironic. I mean, that was pretty ironic and pretty concerning, especially when the Parliament should be about free speech and canvassing these types of issues.

    PETER FEGAN: Yeah, look, I thought the move was very strange considering that, yes, he is Jewish and he had personal experiences. I thought it would have been more touching to allow Mark Dreyfus to talk. But look, it is politics. I want to move on, Minister, if I can, to President Trump’s threat to impose these 25 per cent tariffs on Australia’s aluminium industry. It is a really scary prospect. But, you know, particularly given the cost to Rio Tinto and, you know, and big companies like that BlueScope as well. But look, we don’t export a lot of those materials to America. But I think more broadly there’s an issue here, and it’s the relationship between the US and it hangs in the balance here. Do you think that the comments made by Anthony Albanese and Kevin Rudd may come back to bite us on the backside here?

    AMANDA RISHWORTH: Look, I think that the Prime Minister in particular has demonstrated already he is able to build strong relationships with world leaders. If you have a look at it, before President Trump even took office, our Prime Minister had had a conversation with him. Very few countries got an invite to the inauguration. Penny Wong was there, and we have Richard Marles meeting his Defence Minister counterpart just over the weekend. So, the relationship is strong. We will be working in our national interest. Our Prime Minister always does that. Obviously, President Trump has made comments that he will impose these across every country, but we will be working very closely in our national interest. I think the relationship is very strong. We’ve been working on it, and we’ll keep working on it in our national interest.

    PETER FEGAN: Let’s move on to your brief. The NDIS, it is as a ‘you know what’ sandwich. It’s been handed to you by Bill Shorten. The first question I want to ask you, Minister, and I hope you don’t deny this, have you been handed, have you been left a mess by Bill Shorten? Because the opinion of Australia is the NDIS couldn’t be in worse shape.

    AMANDA RISHWORTH: Well, firstly, I would say that the problems in the NDIS are not new. The reason why many of Australians understand some of the challenges in the NDIS is because Minister Shorten actually raised them. Just a couple of things…

    PETER FEGAN: He raised them, but he didn’t fix them, though, Minister. I mean, come on, let’s call it what it is. He never fixed the issues in the NDIS. He may have raised them, but under his watch you had NDIS carers taking patients or taking their clients to strip clubs, cash buying vehicles, going on holidays. It was an absolute mess, and it all happened under Bill’s watch.

    AMANDA RISHWORTH: No, no, that is just not true. Some of these things had happened for a long time. What we did, and what Minister Shorten did, was have a list of what things could be funded and what couldn’t. Before that, there hadn’t been a list of what could be and couldn’t be funded. Firstly, I would make the point that the NDIS does provide lifechanging supports for many Australians with disability. What I’m hearing, though, of course, and this is the work that Minister Shorten started and I will continue, is firstly, bring integrity back to the system and making sure that people are spending the money and getting support for the things that make a difference in their lives. Secondly, I would say that I hear a lot about making sure that there is fairness and consistency in decision making at the same time as making sure that individuals have an individualised plan. But the crackdown on some of the misuse of NDIS money was only brought to the fore because Bill Shorten decided to set up a fraud task force and actually have a look at this. Some of the practices previously, were invoices weren’t even being checked, they were just being paid.

    PETER FEGAN: But how do we get to that stage? How do we get to that stage where invoices aren’t even checked? I mean, the captain goes down with the ship, unfortunately, Minister.

    AMANDA RISHWORTH: No, no, they are now. We’ve got to bring integrity [to the system] and that’s what Minister Shorten started. It’s a long process because quite frankly, the previous government just did not pay attention to the work that needed to be done in the NDIS. So, we need to get it back to its original intent and that was providing reasonable and necessary support so that individuals with disability can achieve their goals and aspirations. And I think that is where we need to get back to and that’s what I’m absolutely committed to doing.

    PETER FEGAN: My guest this morning is the Minister for Social Services, Amanda Rishworth. One of the things I will agree with, which I think is a good move by the Albanese Government, is people with milder disabilities will be on a different system. It’s an all new system. And I think that’s what part of the NDIS may have been – the determination between people with milder disabilities, with more severe disabilities. But the only problem is the states aren’t getting on board. What’s the update? Because I know that you’ve been working behind the scenes on this, you want to try and get this rolled out by about July 1. Are the states playing ball?

    AMANDA RISHWORTH: This is a joint effort between states and territories and just last week, First Ministers agreed to continue work on what are called foundational supports. And I have to be really clear, these supports will be critical for people. We also need to make sure the evidence is there behind these supports as well. So, we’re working very closely with the states and territories, and we will continue to do so. We are still expecting that foundational supports will start to be rolled out in the second half of this year. Although just to be clear, it was never expected the whole system would be set up in the second half of this year. As the NDIS Review pointed out, there was a long term process. But look, I’m working with absolute good faith with the states and territories. Look, there’s different views and we’ll keep working with them, but I know they are keen as well to make sure that children particularly with disability, get the best evidence-based support they can that actually make a difference and actually change the trajectory of their lives. And that’s what I’m focused on.

    PETER FEGAN: Minister, before I let you go, I’ve just had a message here from the Prime Minister’s office that says Pete, you can ask the Minister, we’re giving her permission to let us know when the election is. You’re right to go.

    AMANDA RISHWORTH: Unfortunately that’s above my pay grade.

    PETER FEGAN: I’d say April 12. You’ll be busy. I’d say April 12. Minister, thanks for having for jumping on this morning. Nice to have your time.

    AMANDA RISHWORTH: No worries, have a good one.

    MIL OSI News

  • MIL-OSI USA: Governor Kehoe Signs Executive Order 25-17 in Preparation of Forecasted Hazardous Winter Weather

    Source: US State of Missouri

    FEBRUARY 10, 2025

     — Today, Governor Mike Kehoe signed Executive Order 25-17 as a precautionary measure to prepare for hazardous winter weather expected to impact the State of Missouri starting tomorrow, Tuesday, February 11. The Order waives certain hours of service requirements for commercial vehicles transporting residential heating fuel and activates the Missouri National Guard for state and local response efforts, if needed.

    “With hazardous winter weather forecasted for this week across much of the state, we want to be as prepared as possible,” Governor Kehoe said. “We ask that all Missourians be proactive, stay aware, and use extreme caution during these potentially dangerous winter weather events. This Order helps ensure homes in Missouri can stay warm and that state government and our National Guard members stand ready to assist.”

    Executive Order 25-17 suspends hours of service regulations for motor carriers transporting residential heating fuels, including propane, natural gas, and heating oil. The Order also gives the Adjutant General of the State of Missouri the authority to call and order into active service such portions of the organized militia as he deems necessary to aid Missourians.

    After a round of light snow primarily across the Ozarks Monday night into Tuesday, the National Weather Service forecasts a more significant winter storm to impact the state beginning overnight Tuesday into Wednesday. Heavy snow, sleet, and freezing rain are expected to lead to widespread travel impacts. Mainly snow is expected north of the I-44 corridor with a chance of at least four inches across northern Missouri, and a wintery mix is expected along and south of the I-44 corridor.

    Motorists are encouraged to postpone travel if possible. If you must travel, use extreme caution and check road conditions before driving to help determine if your trip can be completed safely. The Missouri Department of Transportation’s (MoDOT) Traveler Information Map app can be accessed on desktop and mobile devices here.

    Executive Order 25-17 will expire on March 10, 2025. To view the Order, please click here.

    ###

    MIL OSI USA News

  • MIL-OSI USA: Dominican National Sentenced for Role in Human Smuggling Event that Resulted in 11 Deaths

    Source: US State of California

    A Dominican national was sentenced today to nine years in prison for his involvement in a deadly human smuggling venture that resulted in the deaths of 11 smuggled aliens.

    According to court documents, on or about the evening of May 12, 2022, Fermin Montilla, 45, piloted a vessel carrying 48 individuals from the Dominican Republic to Puerto Rico, with the intent of bringing those individuals to the United States illegally. At some point during the journey, the vessel took on water and capsized, and 11 people drowned.

    “The defendant attempted to illegally smuggle 48 migrants into the United States, leading to the tragic deaths of 11 people,” said Supervisory Official Antoinette T. Bacon of the Justice Department’s Criminal Division. “Human smugglers threaten our national security and exploit vulnerable people for profit with no regard for their safety. The Criminal Division is committed to eliminating these transnational criminal smuggling organizations and protecting the public and those who would fall victim to them.”

    “Human smuggling operations not only violate U.S. law and threaten our national security, but they also endanger the lives of the smuggled migrants and result in death as in this case,” said U.S. Attorney W. Stephen Muldrow for the District of Puerto Rico. “The Justice Department and the U.S. Attorney’s Office will continue to work with our federal, state, and local partners to bring those who smuggle illegal aliens to justice and dismantle their criminal organizations.”

    “It is essential to send a strong message to individuals that take advantage of the vulnerable by endangering lives undermining the safety and security of our communities,” said Special Agent in Charge Rebecca Gonzalez-Ramos of Homeland Security Investigations (HSI) San Juan. “In this one incident we lost 11 lives, we need to protect individuals from this heinous crime. We will continue to use all resources to pursue and to bring to justice transnational criminal organizations that jeopardize the safety of others exploiting immigration laws. To those seeking to be smuggled into the United States, please remember that it’s extremely dangerous and is not worth your life, these individuals do not care.”

    On Sept. 13, 2024, Montilla pleaded guilty to one count of bringing aliens to the United States at a place other than a designated port of entry resulting in death.

    HSI San Juan investigated this case, with assistance from U.S. Customs and Border Protection, U.S. Border Patrol, the U.S. Coast Guard, and the Puerto Rico Police Bureau.

    Trial Attorney Angela Buckner of the Criminal Division’s Human Rights and Special Prosecutions Section and U.S. Coast Guard Special Assistant U.S. Attorney Helena Daniel for the District of Puerto Rico prosecuted the case.

    The investigation is being conducted under the Extraterritorial Criminal Travel Strike Force (ECT) program, a joint partnership between the Justice Department’s Criminal Division and HSI. The ECT program focuses on human smuggling networks that may present particular national security or public safety risks, or present grave humanitarian concerns. ECT has dedicated investigative, intelligence and prosecutorial resources. ECT coordinates and receives assistance from other U.S. government agencies and foreign law enforcement authorities.

    Last June, the Justice Department formally transmitted to Congress a new legislative proposal to increase the recommended penalties for the most prolific and dangerous human smugglers. The proposal, titled the “Deterring Human Smuggling and Harm to Victims Act of 2024,” would amend U.S. Sentencing Guideline 2L1.1, which governs human smuggling offenses, by creating steeper penalty tiers based on the number of people smuggled by the defendant; increasing penalties when the defendant’s conduct results in injury or death to more than one person; and ensuring defendants are subject to sentencing enhancements for sexual assault and other types of prohibited sexual conduct committed during the smuggling offense, even if that conduct occurred outside U.S. jurisdiction. The Department has been working with interested Members of Congress to advance the proposal so that the Sentencing Guidelines accurately account for the full scope of violence that can result from human smuggling.

    MIL OSI USA News

  • MIL-OSI USA: Relief Still Available to Michigan Small Businesses and Private Nonprofits Affected by Last January’s Drought

    Source: United States Small Business Administration

    The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Michigan of the March 10, 2025, deadline to apply for low interest federal disaster loans to offset economic losses caused by the drought and excessive heat that began on Jan. 1, 2024. 

    The declaration covers the counties of Cheboygan, Chippewa, Emmet, Luce, Mackinac and Schoolcraft.  

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.   

    EIDLs are available for working capital needs caused by the disaster and are available even if the business or PNP did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.  

    The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amount terms based on each applicant’s financial condition.  

    To apply online visit SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. 

    Submit completed loan applications to SBA no later than March 10, 2025. 

    ### 

    About the U.S. Small Business Administration 

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov. 

    MIL OSI USA News

  • MIL-OSI Australia: Australian Deputy PM: Entries open for 39th Local Government Awards

    Source: Minister of Infrastructure

    Nominations are now open for the 2025 National Awards for Local Government, an annual celebration and recognition of locally-led innovation. 

    The awards, now in their 39th year, will honour local councils across a total of 13 categories.

    This year there will be two new categories: 

    • Affordable housing – recognising leaders and projects which address housing needs from a policy, planning, social or infrastructure perspective, and
    • Outstanding rural and remote council – honouring the achievements of smaller, more remote or rural councils who have entered the main awards categories.  

    Nearly 12,000 votes were cast during the 2024 awards, where 121 councils were represented across a pool of 144 nominations. 

    These included winning projects such as the Armidale Regional Council’s Girls in Civil program, the City of Launceston’s public Wi-Fi network rollout, and Wyndham City Council’s LIT light experience. 

    All elected local government organisations and associations, and other recognised organisations that provide direct services to Australian communities, are eligible to submit entries until 17 March at: https://www.infrastructure.gov.au/territories-regions-cities/local-government/national-awards-local-government

    Voting will then be open to councils and the broader public from 18 March to 18 April, with winners in each category announced later in the year.

    Quotes attributable to Minister for Local Government, Kristy McBain MP:

    “The National Awards for Local Government are an important event on the calendars of councils across Australia.

    “Last year we had 144 incredible nominations from every corner of the country, and even though that’s amazing, I think that’s underselling what our councils delivered for their communities.

    “We know that our regional councils in particular have unique challenges and large footprints to manage, which is why we’ve introduced a dedicated award to recognise their innovative solutions.

    “Every nomination and every vote represent a job well done for the councils engaging, innovating and delivering at a grassroots level, so get nominating and promote the work of your peers.”

    MONDAY, 10 FEBRUARY 2025

    MEDIA CONTACT: BLAKE DANILCZAK, 0497 204 267 

    MIL OSI News

  • MIL-OSI Australia: Entries open for 39th Local Government Awards

    Source: Australian Ministers for Regional Development

    Nominations are now open for the 2025 National Awards for Local Government, an annual celebration and recognition of locally-led innovation. 

    The awards, now in their 39th year, will honour local councils across a total of 13 categories.

    This year there will be two new categories: 

    • Affordable housing – recognising leaders and projects which address housing needs from a policy, planning, social or infrastructure perspective, and
    • Outstanding rural and remote council – honouring the achievements of smaller, more remote or rural councils who have entered the main awards categories.  

    Nearly 12,000 votes were cast during the 2024 awards, where 121 councils were represented across a pool of 144 nominations. 

    These included winning projects such as the Armidale Regional Council’s Girls in Civil program, the City of Launceston’s public Wi-Fi network rollout, and Wyndham City Council’s LIT light experience. 

    All elected local government organisations and associations, and other recognised organisations that provide direct services to Australian communities, are eligible to submit entries until 17 March at: https://www.infrastructure.gov.au/territories-regions-cities/local-government/national-awards-local-government

    Voting will then be open to councils and the broader public from 18 March to 18 April, with winners in each category announced later in the year.

    Quotes attributable to Minister for Local Government, Kristy McBain MP:

    “The National Awards for Local Government are an important event on the calendars of councils across Australia.

    “Last year we had 144 incredible nominations from every corner of the country, and even though that’s amazing, I think that’s underselling what our councils delivered for their communities.

    “We know that our regional councils in particular have unique challenges and large footprints to manage, which is why we’ve introduced a dedicated award to recognise their innovative solutions.

    “Every nomination and every vote represent a job well done for the councils engaging, innovating and delivering at a grassroots level, so get nominating and promote the work of your peers.”

    MONDAY, 10 FEBRUARY 2025

    MEDIA CONTACT: BLAKE DANILCZAK, 0497 204 267 

    MIL OSI News

  • MIL-OSI USA: SBA Relief Still Available to Montana Small Businesses and Private Nonprofits Affected by May Drought

    Source: United States Small Business Administration

    SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding eligible small businesses and private nonprofit (PNP) organizations in Montana of the March 10, 2025, deadline to apply for low interest federal disaster loans to offset economic losses caused by the drought that began on May 1, 2024.

    The disaster declaration includes the counties of Deer Lodge, Flathead, Granite, Jefferson, Lewis and Clark, Missoula, Powell and Ravalli.

    Under this declaration, the SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

    EIDLs are available for working capital needs caused by the disaster and are available even if the business did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred.

    The loan amount can be up to $2 million with interest rates of 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

    To apply online visit SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    Submit completed loan applications to the SBA no later than March 10.

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

    MIL OSI USA News

  • MIL-OSI USA: MEDIA ADVISORY: HFAC Full Committee Hearing – The USAID Betrayal

    Source: US House Committee on Foreign Affairs

    Media Contact 202-226-8467

    WASHINGTON, D.C. – The House Foreign Affairs Committee will hold a public hearing to examine United States Agency for International Development programs.

    What: Full Committee Hearing

    Date: Thursday, February 13, 2025

    Time: 8:30am ET

    Location: Rayburn 2172

    Subject: The USAID Betrayal

    Witnesses:

    The Honorable Ted Yoho

    Former U.S. Representative

    Florida’s 3rd Congressional District

    Max Primorac

    Former Acting Administrator

    Senior Research Fellow

    Margaret Thatcher Center for Freedom

    The Heritage Foundation

    The Honorable Andrew Natsios

    Former Administrator

    U.S. Agency for International Development

    ***Coverage note: Check here for updates. The hearing will be webcast live here and open to the public and press. Spaces are limited – members of the media who would like to attend in-person should RSVP with with Joe Clark at joseph.clark@mail.house.gov to guarantee a seat. ***

    ###

    MIL OSI USA News

  • MIL-OSI Security: Dominican National Sentenced for Role in Human Smuggling Event that Resulted in 11 Deaths

    Source: United States Attorneys General 7

    A Dominican national was sentenced today to nine years in prison for his involvement in a deadly human smuggling venture that resulted in the deaths of 11 smuggled aliens.

    According to court documents, on or about the evening of May 12, 2022, Fermin Montilla, 45, piloted a vessel carrying 48 individuals from the Dominican Republic to Puerto Rico, with the intent of bringing those individuals to the United States illegally. At some point during the journey, the vessel took on water and capsized, and 11 people drowned.

    “The defendant attempted to illegally smuggle 48 migrants into the United States, leading to the tragic deaths of 11 people,” said Supervisory Official Antoinette T. Bacon of the Justice Department’s Criminal Division. “Human smugglers threaten our national security and exploit vulnerable people for profit with no regard for their safety. The Criminal Division is committed to eliminating these transnational criminal smuggling organizations and protecting the public and those who would fall victim to them.”

    “Human smuggling operations not only violate U.S. law and threaten our national security, but they also endanger the lives of the smuggled migrants and result in death as in this case,” said U.S. Attorney W. Stephen Muldrow for the District of Puerto Rico. “The Justice Department and the U.S. Attorney’s Office will continue to work with our federal, state, and local partners to bring those who smuggle illegal aliens to justice and dismantle their criminal organizations.”

    “It is essential to send a strong message to individuals that take advantage of the vulnerable by endangering lives undermining the safety and security of our communities,” said Special Agent in Charge Rebecca Gonzalez-Ramos of Homeland Security Investigations (HSI) San Juan. “In this one incident we lost 11 lives, we need to protect individuals from this heinous crime. We will continue to use all resources to pursue and to bring to justice transnational criminal organizations that jeopardize the safety of others exploiting immigration laws. To those seeking to be smuggled into the United States, please remember that it’s extremely dangerous and is not worth your life, these individuals do not care.”

    On Sept. 13, 2024, Montilla pleaded guilty to one count of bringing aliens to the United States at a place other than a designated port of entry resulting in death.

    HSI San Juan investigated this case, with assistance from U.S. Customs and Border Protection, U.S. Border Patrol, the U.S. Coast Guard, and the Puerto Rico Police Bureau.

    Trial Attorney Angela Buckner of the Criminal Division’s Human Rights and Special Prosecutions Section and U.S. Coast Guard Special Assistant U.S. Attorney Helena Daniel for the District of Puerto Rico prosecuted the case.

    The investigation is being conducted under the Extraterritorial Criminal Travel Strike Force (ECT) program, a joint partnership between the Justice Department’s Criminal Division and HSI. The ECT program focuses on human smuggling networks that may present particular national security or public safety risks, or present grave humanitarian concerns. ECT has dedicated investigative, intelligence and prosecutorial resources. ECT coordinates and receives assistance from other U.S. government agencies and foreign law enforcement authorities.

    Last June, the Justice Department formally transmitted to Congress a new legislative proposal to increase the recommended penalties for the most prolific and dangerous human smugglers. The proposal, titled the “Deterring Human Smuggling and Harm to Victims Act of 2024,” would amend U.S. Sentencing Guideline 2L1.1, which governs human smuggling offenses, by creating steeper penalty tiers based on the number of people smuggled by the defendant; increasing penalties when the defendant’s conduct results in injury or death to more than one person; and ensuring defendants are subject to sentencing enhancements for sexual assault and other types of prohibited sexual conduct committed during the smuggling offense, even if that conduct occurred outside U.S. jurisdiction. The Department has been working with interested Members of Congress to advance the proposal so that the Sentencing Guidelines accurately account for the full scope of violence that can result from human smuggling.

    MIL Security OSI

  • MIL-OSI: Outbrain to Release Fourth Quarter and Full Year 2024 Financial Results on February 27, 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) — Outbrain Inc. (NASDAQ: OB), which is operating under the new Teads brand, today announced that the company will release its fourth quarter and full year 2024 results before the market opens on Thursday, February 27, 2025, followed by a conference call at 8:30 a.m. (Eastern Time) that same day to discuss the company’s results and business outlook.

    The conference call can be accessed live over the phone by dialing 1-877-497-9071 or for international callers, 1-201-689-8727. A replay will be available two hours after the call and can be accessed by dialing 1-877-660-6853, or for international callers, 1-201-612-7415. The passcode for the live call and the replay is 13750872. The replay will be available until March 13, 2025.

    Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the Investor Relations section of the Company’s website at https://investors.outbrain.com/. The online replay will be available for a limited time shortly following the call.

    About The Combined Company 
    Outbrain Inc. (Nasdaq: OB) and Teads combined on February 3, 2025 and are operating under the new Teads brand. The new Teads is the omnichannel outcomes platform for the open internet, driving full-funnel results for marketers across premium media. With a focus on meaningful business outcomes, the combined company ensures value is driven with every media dollar by leveraging predictive AI technology to connect quality media, beautiful brand creative, and context-driven addressability and measurement. One of the most scaled advertising platforms on the open internet, the new Teads is directly partnered with more than 10,000 publishers and 20,000 advertisers globally. The company is headquartered in New York, with a global team of nearly 1,800 people in 36 countries.

    To learn more, visit www.outbrain.com or www.teads.com

    Media Contact
    press@outbrain.com

    Investor Relations Contact
    IR@outbrain.com
    (332) 205-8999

    The MIL Network

  • MIL-OSI: Notice of minimum investment amount increase for the EdgePoint Canadian Portfolio

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 10, 2025 (GLOBE NEWSWIRE) — EdgePoint Wealth Management Inc. (“EdgePoint”) announced today that it is changing the minimum amount of an initial investment in the EdgePoint Canadian Portfolio (the “Fund”) from $20,000 (the “Previous Minimum”) to $100,000 (the “New Minimum”).

    The New Minimum investment amount must be met per account and per Fund series. The minimum initial investment is subject to change at EdgePoint’s discretion.

    Why is EdgePoint raising the Fund’s minimum initial investment amount?

    The Canadian marketplace offers compelling investment opportunities; however, its size can pose investment restrictions. EdgePoint monitors the Fund’s size and inflows to ensure the Investment Team retains the flexibility needed to capitalize on them.

    The minimum increase is not being made due to capacity constraints today, but to potentially avoid them in the future. The flexibility to look anywhere in Canada for businesses undergoing positive change unrecognized by the market will never be compromised.

    One of EdgePoint’s measures of success is working with advisors who are aligned with its long-term investment approach. It is important to avoid attracting short-term performance chasers rather than like-minded investors.

    Raising the minimum investment threshold is a way of measuring an advisor’s alignment with EdgePoint by asking them to put their money (and conviction) where their mouth is. While this change does not guarantee alignment, it reinforces EdgePoint’s goal of delivering strong long-term returns while prioritizing the best interests of its investors. A stronger, more aligned investor base will create a better experience for all.

    EdgePoint is not an asset gathering firm. Selling and promoting a fund based on performance always serves the needs of the investment firm over the investor. These are necessary steps to protect the integrity of the Fund and to allow EdgePoint to continue building wealth for their long term and very aligned Canadian investors.

    Additional information about the Fund, including the simplified prospectus and Fund Facts, can be found on the Fund’s SEDAR+ profile at www.SEDARPLUS.ca or on EdgePoint’s website at www.edgepointwealth.com.

    ABOUT EDGEPOINT WEALTH MANAGEMENT

    EdgePoint Wealth Management Inc. is an independent investment management firm based in Toronto and owned and operated by investors.

    Contact: Patrick Farmer at 416.963.9353 or farmer@edgepointwealth.com.

    NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

    This is not an offer to purchase. Mutual funds can only be purchased through a registered Dealer. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the simplified prospectus before investing. Copies are available from your financial advisor or at www.edgepointwealth.com. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. EdgePoint is a registered trademark of EdgePoint Investment Group Inc. EdgePoint® and Owned and Operated by Investors™ are trademarks of EdgePoint Investment Group Inc.

    The MIL Network

  • MIL-OSI: Beneficient Announces Third Quarter Fiscal 2025 Earnings Release and Webcast

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Feb. 10, 2025 (GLOBE NEWSWIRE) — Beneficient (NASDAQ: BENF) (“Ben” or the “Company”), a technology-enabled platform providing exit opportunities and primary capital solutions and related trust and custody services to holders of alternative assets through its proprietary online platform, AltAccess, announced that it will release its Third Quarter Fiscal 2025 financial results on Thursday, February 13, 2025. Beneficient will host a webcast to present the results on Thursday, February 13, 2025 at 8:30 a.m. Eastern Standard Time.

    To listen to the webcast please visit the Beneficient investor relations website at shareholders.trustben.com at least ten minutes prior to the scheduled start time to register.

    A replay of the webcast will be available on the Company’s website shortly after the initial presentation.

    About Beneficent

    Beneficient (Nasdaq: BENF) – Ben, for short – is on a mission to democratize the global alternative asset investment market by providing traditionally underserved investors − mid-to-high net worth individuals, small-to-midsized institutions and General Partners seeking exit options, anchor commitments and valued-added services for their funds− with solutions that could help them unlock the value in their alternative assets. Ben’s AltQuote™ tool provides customers with a range of potential exit options within minutes, while customers can log on to the AltAccess® portal to explore opportunities and receive proposals in a secure online environment.

    Its subsidiary, Beneficient Fiduciary Financial, L.L.C., received its charter under the State of Kansas’ Technology-Enabled Fiduciary Financial Institution (TEFFI) Act and is subject to regulatory oversight by the Office of the State Bank Commissioner.

    For more information, visit www.trustben.com or follow us on LinkedIn.

    Contacts
    Matt Kreps 214-597-8200 mkreps@darrowir.com
    Michael Wetherington 214-284-1199 mwetherington@darrowir.com
    investors@beneficient.com  

    Forward-Looking Statements

    This communication includes forward-looking statements as defined under U.S. federal securities laws. Forward-looking statements include all statements that are not historical statements of fact, including related to statements about our plans, expectations and objectives with respect to the results of any legal or regulatory proceedings. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “will,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

    Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to significant risks and uncertainties, many of which are outside of our control, and could cause future events or results to be materially different from those stated or implied in this release. It is not possible to predict or identify all such risks. These risks include, but are not limited to, the risk factors that are described under the section titled “Risk Factors” in our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other documents we file with the SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and we assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

    The MIL Network

  • MIL-OSI: Apollo Commercial Real Estate Finance, Inc. Reports Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) — Apollo Commercial Real Estate Finance, Inc. (the “Company” or “ARI”) (NYSE:ARI) today reported results for the quarter and year ended December 31, 2024.

    Net income (loss) attributable to common stockholders per diluted share of common stock was $0.27 and ($0.97) for the quarter and year ended December 31, 2024, respectively. Distributable Earnings (a non-GAAP financial measure defined below) and Distributable Earnings prior to net realized loss on investments per diluted share of common stock were $0.32 and $0.32 for the quarter ended December 31, 2024, respectively, and $0.43 and $1.33 for the year ended December 31, 2024, respectively.

    Commenting on 2024 performance, Stuart Rothstein, Chief Executive Officer and President of the Company, said:
    “ARI had an active year of capital deployment in 2024, continuing to benefit from the strength and breadth of Apollo’s real estate credit origination capabilities.  A resurgence in real estate transaction activity over the past year led to $2.5bn of repayments in ARI’s portfolio and we successfully redeployed that capital into new vintage, attractively priced loans.”

    ARI issued a detailed presentation of the Company’s quarter and year ended December 31, 2024 results, which can be viewed at www.apollocref.com.

    Conference Call and Webcast
    The Company will hold a conference call to review fourth quarter and year end results on February 11, 2025 at 10am ET. To register for the call, please use the following link:      

    https://register.vevent.com/register/BI38e4ed2c79b3458581a16a9a003e6be1

    After you register, you will receive a dial-in number and unique pin. The Company will also post a link in the Stockholders’ section on ARI’s website for a live webcast. For those unable to listen to the live call or webcast, there will be a webcast replay link posted in the Stockholders’ section on ARI’s website approximately two hours after the call.

    Distributable Earnings
    “Distributable Earnings,” a non-GAAP financial measure, is defined as net income available to common stockholders, computed in accordance with GAAP, adjusted for (i) equity-based compensation expense (a portion of which may become cash-based upon final vesting and settlement of awards should the holder elect net share settlement to satisfy income tax withholding), (ii) any unrealized gains or losses or other non-cash items (including depreciation and amortization related to real estate owned) included in net income available to common stockholders, (iii) unrealized income from unconsolidated joint ventures, (iv) foreign currency gains (losses), other than (a) realized gains/(losses) related to interest income, and (b) forward point gains/(losses) realized on the Company’s foreign currency hedges, and (v) provision for current expected credit losses.

    As a REIT, U.S. federal income tax law generally requires the Company to distribute annually at least 90% of its REIT taxable income, without regard to the deduction for dividends paid and excluding net capital gains, and that the Company pay tax at regular corporate rates to the extent that it annually distributes less than 100% of its net taxable income. Given these requirements and the Company’s belief that dividends are generally one of the principal reasons shareholders invest in a REIT, the Company generally intends over time to pay dividends to its stockholders in an amount equal to its net taxable income, if and to the extent authorized by the Company’s board of directors. Distributable Earnings is a key factor considered by the Company’s board of directors in setting the dividend and as such the Company believes Distributable Earnings is useful to investors.

    During the year ended December 31, 2024, the Company recorded in the consolidated statement of operations realized losses on the sale of a commercial mortgage loan secured by a hotel in Honolulu, Hawaii, and the extinguishment of a commercial mortgage loan secured by a portfolio of eight hospitals in Massachusetts.

    The Company believes it is useful to its investors to also present Distributable Earnings prior to net realized loss on investments and gain on extinguishment of debt, in applicable periods, to reflect its operating results because (i) the Company’s operating results are primarily comprised of earning interest income on its investments net of borrowing and administrative costs, which comprise the Company’s ongoing operations and (ii) it has been a useful factor related to the Company’s dividend per share because it is one of the considerations when a dividend is determined. The Company believes that its investors use Distributable Earnings and Distributable Earnings prior to net realized loss on investments and realized gain on extinguishment of debt, or a comparable supplemental performance measure, to evaluate and compare the performance of the Company and its peers.

    A significant limitation associated with Distributable Earnings as a measure of the Company’s financial performance over any period is that it excludes unrealized gains (losses) from investments. In addition, the Company’s presentation of Distributable Earnings may not be comparable to similarly titled measures of other companies, that use different calculations. As a result, Distributable Earnings should not be considered as a substitute for the Company’s GAAP net income as a measure of its financial performance or any measure of its liquidity under GAAP. Distributable Earnings are reduced for realized losses on loans which include losses that management believes are near certain to be realized.

    A reconciliation of Distributable Earnings to GAAP net income (loss) available to common stockholders is included in the detailed presentation of the Company’s quarter and year ended December 31, 2024 results, which can be viewed at www.apollocref.com.

    About Apollo Commercial Real Estate Finance, Inc.
    Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI) is a real estate investment trust that primarily originates, acquires, invests in and manages performing commercial first mortgage loans, subordinate financings and other commercial real estate-related debt investments. The Company is externally managed and advised by ACREFI Management, LLC, a Delaware limited liability company and an indirect subsidiary of Apollo Global Management, Inc., a high-growth, global alternative asset manager with approximately $751 billion of assets under management at December 31, 2024.

    Additional information can be found on the Company’s website at www.apollocref.com.

    Forward-Looking Statements
    Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Forward-looking statements are subject to substantial risks and uncertainties, many of which are difficult to predict and are generally beyond the Company’s control. These forward-looking statements include information about possible or assumed future results of the Company’s business, financial condition, liquidity, results of operations, plans and objectives. When used in this release, the words believe, expect, anticipate, estimate, plan, continue, intend, should, may or similar expressions, are intended to identify forward-looking statements. Statements regarding the following subjects, among others, may be forward-looking: higher interest rates and inflation; market trends in the Company’s industry, real estate values, the debt securities markets or the general economy; the timing and amounts of expected future fundings of unfunded commitments; the return on equity; the yield on investments; the ability to borrow to finance assets; the Company’s ability to deploy the proceeds of its capital raises or acquire its target assets; and risks associated with investing in real estate assets, including changes in business conditions and the general economy. For a further list and description of such risks and uncertainties, see the reports filed by the Company with the Securities and Exchange Commission. The forward-looking statements, and other risks, uncertainties and factors are based on the Company’s beliefs, assumptions and expectations of its future performance, taking into account all information currently available to the Company. Forward-looking statements are not predictions of future events. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    CONTACT:   Hilary Ginsberg
        Investor Relations
        (212) 822-0767

    The MIL Network

  • MIL-OSI: Ingersoll Rand to Participate in Upcoming Investor Conferences

    Source: GlobeNewswire (MIL-OSI)

    DAVIDSON, N.C., Feb. 10, 2025 (GLOBE NEWSWIRE) — Ingersoll Rand Inc. (NYSE: IR), a global provider of mission-critical flow creation and life science and industrial solutions, announced that Vik Kini, chief financial officer, will participate in fireside chats at the following upcoming investor conferences:

    • The Citi Global Industrial Tech and Mobility Conference on Wednesday, February 19, 2025, at 11:20 a.m. Eastern Time.
    • The Barclays Industrial Select Conference on Thursday, February 20, 2025, at 7:30 a.m. Eastern Time.

    A real-time audio webcast of both fireside chats can be accessed via the Events and Presentations section of the Ingersoll Rand Investor Relations website here. A replay of the webcast will be available after conclusion of the fireside chat and can be accessed on the Ingersoll Rand Investor Relations website.

    About Ingersoll Rand Inc.
    Ingersoll Rand Inc. (NYSE:IR), driven by an entrepreneurial spirit and ownership mindset, is dedicated to Making Life Better for our employees, customers, shareholders, and planet. Customers lean on us for exceptional performance and durability in mission-critical flow creation and life science and industrial solutions. Supported by over 80+ respected brands, our products and services excel in the most complex and harsh conditions. Our employees develop customers for life through their daily commitment to expertise, productivity, and efficiency. For more information, visit www.IRCO.com.

    Investors:

    Matthew Fort
    Matthew.Fort@irco.com

    Media:

    Sara Hassell
    Sara.Hassell@irco.com 

    The MIL Network

  • MIL-OSI: Middlefield Banc Corp. Announces a 5% Increase in the 2025 First-Quarter Cash Dividend Payment

    Source: GlobeNewswire (MIL-OSI)

    MIDDLEFIELD, Ohio, Feb. 10, 2025 (GLOBE NEWSWIRE) — Middlefield Banc Corp. (NASDAQ: MBCN) today announced that its Board of Directors declared a quarterly cash dividend of $0.21 per common share, representing a 5% increase from the 2024 fourth quarter dividend. The 2025 first-quarter dividend is payable on March 14, 2025, to shareholders of record on February 28, 2025.

    Ronald L. Zimmerly, Jr., President and Chief Executive Officer, stated, “The 5% increase in Middlefield’s dividend payment demonstrates our confidence in the future, as well as our strong capital position and expanding levels of profitability. Our regular dividend has increased 47.4% from $0.57 per share for the year ended December 31, 2019, to an annualized rate of $0.84 currently. This multi-year growth reflects our Board’s commitment to returning excess capital back to our shareholders.”

    About Middlefield Banc Corp.
    Middlefield Banc Corp., headquartered in Middlefield, Ohio, is the Bank holding Company of The Middlefield Banking Company, with total assets of $1.85 billion at December 31, 2024. The Bank operates 21 full-service banking centers and an LPL Financial® brokerage office serving Ada, Beachwood, Bellefontaine, Chardon, Cortland, Dublin, Garrettsville, Kenton, Mantua, Marysville, Middlefield, Newbury, Orwell, Plain City, Powell, Solon, Sunbury, Twinsburg, and Westerville. The Bank also operates a Loan Production Office in Mentor, Ohio.

    Additional information is available at www.middlefieldbank.bank

    This press release of Middlefield Banc Corp. and the reports Middlefield Banc Corp. files with the Securities and Exchange Commission often contain “forward-looking statements” relating to present or future trends or factors affecting the banking industry and, specifically, the financial operations, markets and products of Middlefield Banc Corp. These forward-looking statements involve certain risks and uncertainties. There are a number of important factors that could cause Middlefield Banc Corp.’s future results to differ materially from historical performance or projected performance. These factors include, but are not limited to: (1) a significant increase in competitive pressures among financial institutions; (2) changes in the interest rate environment that may reduce interest margins; (3) changes in prepayment speeds, charge-offs and loan loss provisions; (4) less favorable than expected general economic conditions; (5) legislative or regulatory changes that may adversely affect businesses in which Middlefield Banc Corp. is engaged; (6) technological issues which may adversely affect Middlefield Banc Corp.’s financial operations or customers; (7) changes in the securities markets; or (8) risk factors mentioned in the reports and registration statements Middlefield Banc Corp. files with the Securities and Exchange Commission. Middlefield Banc Corp. undertakes no obligation to release revisions to these forward-looking statements or to reflect events or circumstances after the date of this press release.

       
    Company Contact: Investor and Media Contact:
    Ron Zimmerly
    President and Chief Executive Officer Middlefield Banc Corp.
    (419) 673-1217
    RZimmerly@middlefieldbank.com
    Andrew M. Berger
    Managing Director
    SM Berger & Company, Inc.
    (216) 464-6400
    andrew@smberger.com

    The MIL Network

  • MIL-OSI: Farmers and Merchants Bancshares, Inc. Reports Earnings of $4,277,703 or $1.37 Per Share for the Year Ended December 31, 2024

    Source: GlobeNewswire (MIL-OSI)

    HAMPSTEAD, Md., Feb. 10, 2025 (GLOBE NEWSWIRE) — Farmers and Merchants Bancshares, Inc. (the “Company”), the parent company of Farmers and Merchants Bank (the “Bank” and, together with the Company, “we”, “us” and “our”), announced that net income for the year ended December 31, 2024 was $4,277,703, or $1.37 per common share (basic and diluted), compared to $6,418,337, or $2.08 per common share (basic and diluted), for the same period in 2023. Higher interest expense as a result of the Federal Reserve rate increases over the last several years was the primary reason for the decline in net income. The Company’s return on average equity during the year ended December 31, 2024 was 7.83% compared to 13.08% for the same period in 2023. The Company’s return on average assets during the year ended December 31, 2024 was 0.53% compared to 0.86% for the same period in 2023. Loan growth for the year ended December 31, 2024 was $60 million, a growth rate of 11.4%.

    Net income for the three months ended December 31, 2024 was $856,080, or $0.27 per common share (basic and diluted), compared to $1,415,230, or $0.46 per common share (basic and diluted), for the fourth quarter of 2023. The Company’s return on average equity during the three months ended December 31, 2024 was 5.96% compared to 11.92% for the same period in 2023. The Company’s return on average assets during the three months ended December 31, 2024 was 0.41% compared to 0.72% for the same period in 2023.          

    Net interest income for the year ended December 31, 2024 was $579,928 lower when compared to the same period in 2023 due to a decrease in the net interest margin to 2.68% for the year ended December 31, 2024 from 2.97% for the same period in 2023. The decline in the net interest margin was partially offset by a $56.6 million increase in average interest earning assets to $784.6 million for the year ended December 31, 2024 from $728.0 million for the same period in 2023. Higher interest expense was the driving factor in the lower net interest income. The Federal Reserve interest rate decreased by 1.00% over the last four months of 2024 after aggregate increases of 5.25% from March 2022 through August 2023. The net aggregate increase of 4.25% caused the cost of deposits and borrowings to increase by 102 basis points to 2.76% for the year ended December 31, 2024 from 1.74% for the same period in 2023. In addition, average interest bearing liabilities increased by $64.3 million to $634.7 million for the year ended December 31, 2024 from $570.4 million for the same period in 2023. The taxable equivalent yield on total average interest-earning assets increased 59 basis points to 4.92% for the year ended December 31, 2024 from 4.33% for the same period in 2023, partially offsetting the higher cost of funds.

    The Bank entered into several interest rate swaps structured as fair value hedges during 2023 and 2024, some in combination with the purchase of mortgage backed securities, which are intended to offset the impact of higher interest expense by improving interest income on debt securities. During the fourth quarter of 2024, a swap with a notional amount of $22 million was unwound and the related $28 million of mortgage backed securities was sold, resulting in a net gain of $18,708. The notional amount of interest rate swaps outstanding at December 31, 2024 was approximately $75 million.

    Our loan portfolio is comprised primarily of commercial real estate loans with fixed rates for five-year terms. As those loans reprice, our net interest margin should improve. In addition, our current strategy is to increase the diversification of our portfolio with commercial and industrial loans, which are typically adjustable rate loans and would provide an immediate higher yield in today’s interest rate environment.

    A provision for credit losses of $150,000 was recorded for the year ended December 31, 2024. For the year ended December 31, 2023, we recorded a $570,000 recovery. The Company’s loan portfolio continues to perform at a high level with just one non-accrual loan totaling $403,853 and one loan more than 30 days delinquent totalling $269,852 at December 31, 2024.

    Noninterest income increased by $160,947 for the year ended December 31, 2024 when compared to the same period in 2023, primarily as a result of a $138,388 increase in the gain on insurance proceeds for our Upperco location and a $48,252 increase in bank owned life insurance income, offset by a decrease of 19,392 in the gain on sale of SBA loans. Noninterest expense was $1,787,830 higher in the year ended December 31, 2024 when compared to the same period in 2023, due primarily to a $475,241 increase in other expenses, a $505,322 increase in occupancy and furniture and equipment costs, a $495,733 increase in salaries and benefits, and a $311,534 increase in other real estate owned expenses. The increase in other expenses was due primarily to costs associated with our core system conversion that was completed in the fourth quarter of 2024, ATM related expenses, and legal fees incurred for stockholder matters. Also, the Bank’s FDIC assessment expense increased due to higher FDIC assessment rates. The increase in occupancy and furniture and equipment was due primarily to the renovations and new equipment for the Upperco location which was placed in service at the end of the first quarter and the new Towson location that was placed in service during the second quarter. The increase in salaries and benefits was due to normal annual salary increases as well as the hiring of several new employees primarily in the commercial loan production department. The increase in other real estate owned expenses is due primarily to a $249,217 gain that was realized in 2023.

    Income taxes decreased by $786,177 during the year ended December 31, 2024 when compared to the same period in 2023 due to lower earnings before taxes. The effective tax rate decreased to 22.3% for the year ended December 31, 2024 from 23.9% for the same period last year due to an increase in the amount of nontaxable income included in pretax income year over year.

    Total assets increased to $845 million at December 31, 2024 from $800 million at December 31, 2023. Loans increased by 11.4% to $583 million at December 31, 2024 from the $523 million recorded at December 31, 2023. Investments in debt securities decreased to $146 million at December 31, 2024 from $184 million at December 31, 2023. Deposits increased to $758 million at December 31, 2024 from $681 million at December 31, 2023.   The Company’s tangible equity was $49 million at December 31, 2024 compared to $45 million at December 31, 2023.

    The book value of the Company’s common stock increased to $17.77 per share at December 31, 2024 from to $16.74 per share at December 31, 2023. Book value per share at December 31, 2024 was reflective of the $17 million unrealized loss, net of income taxes, on the Bank’s available for sale (“AFS”) investment portfolio as a result of the significant rise in interest rates over the last 30 months. Changes in the market value of the AFS investment portfolio, net of income taxes, are reflected in the Company’s equity, but are not included in the income statement. The AFS investment portfolio is comprised of 72% government agency mortgage backed securities which are fully guaranteed, 23% investment grade non agency mortgage backed securities, 1% investment grade corporate and municipal bonds, and 4% subordinated debt of other community banks. There is no indication of credit deterioration in any of the bonds and we intend to hold these investments to maturity, so no actual losses are anticipated. There is no impact on regulatory capital because the Bank elected many years ago to not include in the calculation of regulatory capital changes in the market value of the AFS investment portfolio regardless of whether they are positive or negative.

    The Bank utilized the Federal Reserve Bank’s Bank Term Funding Program during 2024 and had borrowings of $54,000,000 outstanding for most of 2024, but the borrowings were repaid during December 2024 ahead of the maturity date of January 15, 2025. Our Federal Home Loan Bank facility, other borrowing lines available, unpledged securities, brokered deposit access, and cash provided us with access to approximately $332 million of liquidity at December 31, 2024.

    Gary A. Harris, President and CEO, commented “We are pleased that our loan portfolio grew $60 million, or 11.4%, during 2024, demonstrating that our investment in additional loan production staff and facilities is paying off. Our asset quality remains high and our liquidity position remains strong. Due to the sunsetting of our existing core operating system, after an almost year long effort, our core system conversion was completed in October 2024.  While it increased our expenses in 2024, the new system will be a substantial digital upgrade that will position the bank for future growth, provide for significant efficiency gains and an enhanced customer experience moving forward. The Federal Reserve interest rate decreased an additional 50 basis points in the fourth quarter after the 50 basis point reduction in September. Additional cuts are now not expected to occur until the second half of 2025. The 2024 cuts should provide for improvement in our net interest margin in 2025.”

    About the Company

    The Company is a financial holding company and the parent company of the Bank. The Bank was chartered in Maryland in 1919 and has over 100 years of service to the community. The Bank serves the deposit and financing needs of both consumers and businesses in Carroll and Baltimore Counties along the Route 30, Route 795, Route 140, Route 26, and Route 45 corridors. The main office is located in Upperco, Maryland, with seven additional branches in Owings Mills, Hampstead, Greenmount, Reisterstown, Westminster, Eldersburg, and Towson. Certain broker-dealers make a market in the common stock of Farmers and Merchants Bancshares, Inc., and trades are reported through the OTC Markets Group’s Pink Market under the symbol “FMFG”.

    Forward-Looking Statements

    The statements contained herein that are not historical facts are forward-looking statements (as defined by the Private Securities Litigation Reform Act of 1995) based on management’s current expectations and beliefs concerning future developments and their potential effects on the Company. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Company. There can be no assurance that future developments affecting the Company will be the same as those anticipated by management. These statements are evidenced by terms such as “anticipate,” “estimate,” “should,” “will,” “expect,” “believe,” “intend,” and similar expressions. Although these statements reflect management’s good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. These projections involve risk and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements. For a discussion of these risks and uncertainties, see the section of the periodic reports filed by Farmers and Merchants Bancshares, Inc. with the Securities and Exchange Commission entitled “Risk Factors”.

         
    Farmers and Merchants Bancshares, Inc. and Subsidiaries
    Consolidated Balance Sheets
    (Unaudited)
         
      December 31, December 31, *
      2024 2023
         
    Assets  
         
    Cash and due from banks $ 63,962,047   $ 44,404,473  
    Federal funds sold and other interest-bearing deposits   697,066     285,864  
    Cash and cash equivalents   64,659,113     44,690,337  
    Certificates of deposit in other banks   100,000     100,000  
    Securities available for sale, at fair value   125,712,926     164,084,673  
    Securities held to maturity, at amortized cost less allowance for credit    
    losses of $60,009 and $35,627   20,498,502     20,163,622  
    Equity security, at fair value   517,550     507,130  
    Restricted stock, at cost   921,000     863,500  
    Mortgage loans held for sale   157,200      
    Loans, less allowance for credit losses of $4,260,189 and $4,285,247   582,993,314     523,308,044  
    Premises and equipment, net   7,348,800     6,583,452  
    Accrued interest receivable   2,439,108     2,180,734  
    Deferred income taxes, net   7,606,241     8,312,482  
    Other real estate owned, net   1,176,245     1,242,365  
    Bank owned life insurance   15,324,417     14,930,754  
    Goodwill and other intangibles, net   7,026,096     7,034,424  
    Other assets   8,162,575     5,939,309  
      $ 844,643,087   $ 799,940,826  
         
    Liabilities and Stockholders’ Equity
         
    Deposits    
    Noninterest-bearing $ 107,197,478   $ 115,284,706  
    Interest-bearing   651,609,250     565,678,145  
    Total deposits   758,806,728     680,962,851  
    Securities sold under repurchase agreements   5,564,103     6,760,493  
    Federal Home Loan Bank of Atlanta advances   5,000,000     5,000,000  
    Federal Reserve Bank advances       33,000,000  
    Long-term debt, net of issuance costs   11,329,115     13,212,378  
    Accrued interest payable   1,002,525     1,482,773  
    Other liabilities   6,668,826     7,344,040  
        788,371,297     747,762,535  
    Stockholders’ equity    
    Common stock, par value $.01 per share,    
    authorized 5,000,000 shares; issued and outstanding    
    3,166,653 in 2024 and 3,116,966 shares in 2023   31,667     31,170  
    Additional paid-in capital   31,135,552     30,398,080  
    Retained earnings   41,612,654     39,433,185  
    Accumulated other comprehensive loss   (16,508,083 )   (17,684,144 )
        56,271,790     52,178,291  
      $ 844,643,087   $ 799,940,826  
    * – Derived from audited consolidated financial statements    
         
    Farmers and Merchants Bancshares, Inc. and Subsidiaries
    Consolidated Statements of Income
    (Unaudited)
         
      Three Months Ended December 31, Year Ended December 31,
      2024 2023 2024 2023
             
    Interest income        
    Loans, including fees $ 8,316,953   $ 6,707,414   $ 30,338,189   $ 25,730,722  
    Investment securities – taxable   1,468,905     1,770,413     6,263,400     4,299,206  
    Investment securities – tax exempt   143,501     137,770     559,130     554,396  
    Federal funds sold and other interest earning assets   341,822     269,093     1,202,744     738,814  
    Total interest income   10,271,181     8,884,690     38,363,463     31,323,138  
             
    Interest expense        
    Deposits   4,274,980     2,960,470     14,518,632     7,971,094  
    Securities sold under repurchase agreements   16,222     17,924     65,335     41,873  
    Federal Home Loan Bank advances and other borrowings   13,433     33,614     122,663     485,886  
    Federal Reserve Bank advances   402,775     431,556     2,313,186     823,319  
    Long-term debt   120,154     140,000     507,562     584,953  
    Total interest expense   4,827,564     3,583,564     17,527,378     9,907,125  
    Net interest income   5,443,617     5,301,126     20,836,085     21,416,013  
             
    Provision for (recovery of) credit losses   150,000         150,000     (570,000 )
             
    Net interest income after provision for (recovery of) credit losses   5,293,617     5,301,126     20,686,085     21,986,013  
             
    Noninterest income        
    Service charges on deposit accounts   189,094     205,942     810,273     792,941  
    Mortgage banking income   41,484     4,483     107,846     96,997  
    Bank owned life insurance income   106,050     83,817     393,664     345,412  
    Gain (loss) on sale of debt securities   18,708     5,445     (13,214 )    
    Fair value adjustment of equity security   (18,183 )   15,343     (4,346 )   5,445  
    Loss on disposition of furniture and equipment           (5,157 )    
    Gain on sale of SBA loans       19,392         19,392  
    Gain on insurance proceeds       4,406     142,794     4,406  
    Other fees and commissions   85,899     83,782     320,587     326,907  
    Total noninterest income   423,052     422,610     1,752,447     1,591,500  
             
    Noninterest expense        
    Salaries   2,006,144     1,901,031     7,854,322     7,544,773  
    Employee benefits   590,365     517,654     2,187,116     2,000,932  
    Occupancy   271,859     229,377     1,070,456     874,775  
    Furniture and equipment   395,264     243,579     1,292,767     983,126  
    Other real estate owned, net   75,996     (235,538 )   75,996     (235,538 )
    Other   1,283,177     1,296,793     4,449,099     3,973,858  
    Total noninterest expense   4,622,805     3,952,896     16,929,756     15,141,926  
             
    Income before income taxes   1,093,864     1,770,840     5,508,776     8,435,587  
    Income taxes   237,784     355,610     1,231,073     2,017,250  
    Net income $ 856,080   $ 1,415,230   $ 4,277,703   $ 6,418,337  
             
    Earnings per share – basic $ 0.27   $ 0.46   $ 1.37   $ 2.08  
    Earnings per share – diluted $ 0.27   $ 0.46   $ 1.37   $ 2.08  
             
    Farmers and Merchants Bancshares, Inc.
    Selected Consolidated Financial Data
           
      2024 2023 2022
           
    OPERATING DATA      
           
    Interest income $ 38,363,463   $ 31,323,138   $ 26,269,653  
    Interest expense   17,527,378     9,907,125     2,146,158  
    Net interest income   20,836,085     21,416,013     24,123,495  
    Provision for (recovery of) loan losses   150,000     (570,000 )   475,000  
    Net interest income after provision for credit losses   20,686,085     21,986,013     23,648,495  
    Noninterest income   1,752,447     1,591,500     2,293,938  
    Noninterest expense   16,929,756     15,141,926     15,367,280  
    Income before income taxes   5,508,776     8,435,587     10,575,153  
    Income taxes   1,231,073     2,017,250     2,485,026  
    Net income $ 4,277,703   $ 6,418,337   $ 8,090,127  
           
    PER SHARE DATA      
           
    Net income (Basic) $1.37   $2.08   $2.66  
    Dividends $0.67   $0.66   $0.63  
    Book value $17.77   $16.74   $15.56  
           
    KEY RATIOS      
           
    Return on average assets   0.53 %   0.86 %   1.13 %
    Return on average equity   7.83 %   13.08 %   16.03 %
    Efficiency ratio   74.95 %   65.81 %   58.17 %
    Dividend payout ratio   48.91 %   31.73 %   23.68 %
    Net yield on interest-earning assets   2.68 %   2.97 %   3.54 %
    Tier 1 capital leverage ratio   9.12 %   9.42 %   9.83 %
           
    AT PERIOD END      
           
    Total assets $ 844,643,087   $ 799,940,826   $ 718,210,672  
    Gross loans   587,978,965     528,166,501     521,679,143  
    Cash and cash equivalents   64,659,113     44,690,337     7,263,537  
    Securities   146,211,428     184,248,295     146,823,446  
    Deposits   758,806,728     680,962,851     623,611,124  
    Borrowings   10,564,103     57,972,871     40,270,945  
    Stockholders’ equity   56,271,790     52,178,291     47,774,963  
           
    SELECTED AVERAGE BALANCES      
           
    Total assets $ 810,042,767   $ 745,478,612   $ 714,115,497  
    Gross loans   557,861,624     528,910,091     498,427,308  
    Cash and cash equivalents   27,564,076     18,497,261     20,015,477  
    Securities   177,742,677     182,159,701     174,776,879  
    Deposits   672,492,752     642,039,185     631,809,943  
    Borrowings   72,287,329     48,040,853     26,042,874  
    Stockholders’ equity   54,609,886     49,063,426     50,457,994  
           
    ASSET QUALITY      
           
    Nonperforming assets $ 1,580,098   $ 1,897,775   $ 1,897,775  
           
    Nonperforming assets/total assets   0.19 %   0.24 %   0.26 %
           
    Allowance for credit losses on loans/total loans   0.72 %   0.81 %   0.80 %
           
    Contact: Mr. Gary A. Harris
      President and Chief Executive Officer
      (410) 374-1510, ext. 1104
       

    The MIL Network

  • MIL-OSI New Zealand: Man charged with murder in relation to Ngāruawāhia death

    Source: New Zealand Police (National News)

    To be attributed to Detective Senior Sergeant Andrew Saunders:

    A 34-year-old man has been charged with the murder of Turipapa Tukere, who died following an altercation in Ngāruawāhia on 27 December.

    The man was arrested this morning, following two search warrants in Hamilton carried out with the assistance of the Armed Offenders Squad, and a search warrant in Tauranga. 

    He is scheduled to appear in Hamilton District Court today.

    We would like to thank the Ngāruawāhia community for their support during the investigation into Turipapa’s death. 

    The investigation is ongoing and we are not ruling out further arrests.

    If you have information which could assist the investigation team but have not yet spoken to us, please get in touch via 105, either online or over the phone.

    Please reference file number 241227/6958.
     

    ENDS

    Issued by Police Media Centre. 

    MIL OSI New Zealand News