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  • MIL-OSI Global: Trump’s offshore wind energy freeze: What states lose if the executive order remains in place

    Source: The Conversation – USA – By Barbara Kates-Garnick, Professor of Practice in Energy Policy, Tufts University

    The offshore wind industry brings jobs and economic development. AP Photo/Seth Wenig

    A single wind turbine spinning off the U.S. Northeast coast today can power thousands of homes – without the pollution that comes from fossil fuel power plants. A dozen of those turbines together can produce enough electricity for an entire community.

    The opportunity to tap into such a powerful source of locally produced clean energy – and the jobs and economic growth that come with it – is why states from Maine to Virginia have invested in building a U.S. offshore wind industry.

    But much of that progress may now be at a standstill.

    One of Donald Trump’s first acts as president in January 2025 was to order a freeze on both leasing federal areas for new offshore wind projects and issuing federal permits for projects that are in progress.

    The U.S. Northeast and Northern California have the nation’s strongest offshore winds.
    NREL

    The order and Trump’s long-held antipathy toward wind power are creating massive uncertainty for a renewable energy industry at its nascent stage of development in the U.S., and ceding leadership and offshore wind technology to Europe and China.

    As a professor of energy policy and former undersecretary of energy for Massachusetts, I’ve seen the potential for offshore wind power, and what the Northeast, New York and New Jersey, as well as the U.S. wind industry, stand to lose if that growth is shut down for the next four years.

    Expectations fall from 30 gigawatts by 2030

    The Northeast’s coastal states are at the end of the fossil fuel energy pipeline. But they have an abundant local resource that, when built to scale, could provide significant clean energy, jobs and supply chain manufacturing. It could also help the states achieve their ambitious goals to reduce their greenhouse gas emissions and their impact on climate change.

    The Biden administration set a national offshore wind goal of 30 gigawatts of capacity in 2030 and 110 gigawatts by 2050. It envisioned an industry supporting 77,000 jobs and powering 10 million homes while cutting emissions. As recently as 2021, at least 28 gigawatts of offshore wind power projects were in the development or planning pipeline.

    With the Trump order, I believe the U.S. will have, optimistically, less than 5 gigawatts in operation by 2030.

    That level of offshore wind is certainly not enough to create a viable manufacturing supply chain, provide lasting jobs or deliver the clean energy that the grid requires. In comparison, Europe’s offshore wind capacity in 2023 was 34 gigawatts, up from 5 gigawatts in 2012, and China’s is now at 34 gigawatts.

    What the states stand to lose

    Offshore wind is already a proven and operating renewable power source, not an untested technology. Denmark has been receiving power from offshore wind farms since the 1990s.

    The lost opportunity to the coastal U.S. states is significant in multiple areas.

    Trump’s order adds deep uncertainty in a developing market. Delays are likely to raise project costs for both future and existing projects, which face an environment of volatile interest rates and tariffs that can raise turbine component costs. It is energy consumers who ultimately pay through their utility bills when resource costs rise.

    The potential losses to states can run deeper. The energy company Ørsted had estimated in early 2024 that its proposed Starboard Offshore Wind project would bring Connecticut nearly US$420 million in direct investment and spending, along with employment equivalent to 800 full-time positions and improved energy system reliability.

    Massachusetts created an Offshore Wind Energy Investment Trust Fund to support redevelopment projects, including corporate tax credits up to $35 million. A company planning to build a high-voltage cable manufacturing facility there pulled out in January 2025 over the shift in support for offshore wind power. On top of that, power grid upgrades to bring offshore wind energy inland – critical to reliability for reducing greenhouse gas emissions from electricity – will be deferred.

    Atlantic Coast wind-energy leases as of July 2024. Others wind energy lease areas are in the Gulf of Mexico, off the Pacific coast and off Hawaii.
    U.S. Bureau of Safety and Environmental Enforcement

    Technology innovation in offshore wind will also likely move abroad, as Maine experienced in 2013 after the state’s Republican governor tried to void a contract with Statoil. The Norwegian company, now known as Equinor, shifted its plans for the world’s first commercial-scale floating wind farm from Maine to Scotland and Scandinavia.

    Sand in the gears of a complex process

    Development of energy projects, whether fossil or renewable, is extremely complex, involving multiple actors in the public and private spheres. Uncertainty anywhere along the regulatory chain raises costs.

    In the U.S., jurisdiction over energy projects often involves both state and federal decision-makers that interact in a complex dance of permitting, studies, legal regulations, community engagement and finance. At each stage in this process, a critical set of decisions determines whether projects will move forward.

    The federal government, through the Department of Interior’s Bureau of Offshore Energy Management, plays an initial role in identifying, auctioning and permitting the offshore wind areas located in federal waters. States then issue requests for proposals from companies wishing to sell wind power to the grid. Developers who win bureau auctions are eligible to respond. But these agreements are only the beginning. Developers need approval for site, design and construction plans, and several state and federal environmental and regulatory permits are required before the project can begin construction.

    Trump targeted these critical points in the chain with his indefinite but “temporary” withdrawal of any offshore wind tracts for new leases and a review of any permits still required from federal agencies.

    Jobs and opportunity delayed

    A thriving offshore wind industry has the potential to bring jobs, as well as energy and economic growth. In addition to short-term construction, estimates for supply chain jobs range from 12,300 to 49,000 workers annually for subassemblies, parts and materials. The industry needs cables and steel, as well as the turbine parts and blades. It requires jobs in shipping and the movement of cargo.

    To deliver offshore wind power to the onshore grid will also require grid upgrades, which in turn would improve reliability and promote the growth of other technologies, including batteries.

    The U.S. has offshore wind farms operating off Virginia, Rhode Island and New York. Three more are under construction.
    AP Photo/Steve Helber

    Taken all together, an offshore wind energy transition would build over time. Costs would come down as domestic manufacturing took hold, and clean power would grow.

    While environmental goals drove initial investments in clean energy, the positive benefits of jobs, technology and infrastructure all became important drivers of offshore wind for the states. Tax incentives, including from the Inflation Reduction Act, now in doubt, have supported the initial financing for projects and helped to lower costs.

    It’s a long-term investment, but once clear of the regulatory processes, with infrastructure built out and manufacturing in place, the U.S. offshore wind industry would be able to grow more price competitive over time, and states would be able to meet their long-term goals.

    The Trump order creates uncertainty, delays and likely higher costs in the future.

    Barbara Kates-Garnick receives funding as an Outside Director for Anbaric Transmission, which has no operating projects related to offshore wind. She has received funding for a research project through Tufts University jointly funded by NOWRDC and the Massachusetts Clean Energy Center. She serves on the board of several nonprofits that are not politically active organizations.

    – ref. Trump’s offshore wind energy freeze: What states lose if the executive order remains in place – https://theconversation.com/trumps-offshore-wind-energy-freeze-what-states-lose-if-the-executive-order-remains-in-place-249125

    MIL OSI – Global Reports –

  • MIL-OSI Global: What Los Angeles-area schools can learn from other districts devastated by natural disasters

    Source: The Conversation – USA – By Lee Ann Rawlins Williams, Clinical Assistant Professor of Education, Health and Behavior Studies, University of North Dakota

    Eliot Arts Magnet Middle School burned when the Eaton Fire swept through Altadena, Calif., in January 2025. JOSH EDELSON/AFP via Getty Images

    As Los Angeles County students begin returning to school after wildfires devastated the region, it’s worth examining how other U.S. educational systems disrupted by natural disasters have moved forward.

    Many students and educators have experienced the loss of their schools and homes, leaving them with a deep sense of grief and uncertainty. More than 1,000 schools were closed in Los Angeles County due to the fires, affecting more than 600,000 students across 26 districts.

    But loss during a disaster goes beyond what’s visible. And a return to normalcy means more than rebuilding schools and educational spaces.

    The fires have disrupted learning, emotional well-being and the routines that hold educational communities together. Previous disasters show that the emotional recovery of students and teachers needs attention for academic progress to be effective.

    As a professor who has studied how educational systems recover from natural disasters, I think Los Angeles-area schools will have to address some key themes of loss as they recover from the fires.

    Loss of learning time and continuity

    One educational consequence after natural disasters is loss of learning time and continuity. After previous natural disasters, some school districts stressed the importance of returning to in-person instruction quickly.

    For example, the Florida Department of Education reported in October 2022 that 68 of the state’s 75 school districts were open one week after Hurricane Ian barreled through the state.

    But that’s not always the best decision.

    Students often need time and space to process loss. Rushing students back into class without acknowledging this can feel counterproductive.

    Successful responses to large-scale disruptions show that keeping education on track during such times requires a holistic approach that involves the entire community.

    Schools play a crucial role in this approach. Beyond offering educational continuity, they are spaces where students can find support and stability.

    This doesn’t necessarily mean an immediate return to the classroom. Instead, a holistic approach ensures that when students do return to school, they have the necessary emotional and psychological support in place.

    In the wake of Hurricane Helene in September 2024, for example, school districts recognized that emotional healing is essential before academic recovery can begin.

    Fifty-three school districts across North Carolina sent 263 counselors and social workers to support students and educators in Buncombe County, home to Asheville, after Helene.

    Soon afterward, teachers incorporated hurricane recovery efforts into their lesson plans. When an environmental response team helped schools use portable testing kits for water quality analysis, some science teachers incorporated the hands-on learning into their classrooms.

    The experience allowed students to engage in a real-world application of science. This deepened their understanding of the disaster’s health impact.

    The Eaton Fire burned the Aveson School of Leaders elementary school in Altadena, Calif., in January 2025.
    Sarah Reingewirtz/MediaNews Group/Los Angeles Daily News via Getty Images

    After Hurricane Milton swept through Tampa Bay, Fla., schools in Hillsborough County extended the first-quarter grading period. They also reviewed the academic calendar to determine necessary adjustments for making up lost instructional time.

    Meanwhile, Pinellas County Schools, which also serves the Tampa Bay area, deployed a mental health and wellness plan developed in 2022 to support students and staff. It emphasizes the need for both academic recovery and mental health support.

    For Los Angeles-area students and teachers, a similar approach could involve offering mental health counseling and creating safe spaces for students and educators to process trauma. This can be done via drop-in counseling collaborations between community mental health providers and trained professionals in schools.

    These efforts could support resilience and long-term recovery.

    New environments and challenges

    The Los Angeles-area wildfires have destroyed schools that often provide free or reduced lunch services to many students. The fires have also uprooted many students, forcing them to navigate new and unfamiliar schools.

    Educators, meanwhile, must manage the challenges of teaching in temporary settings with limited resources.

    These strains highlight the urgent need for support systems to promote stability and rehabilitation.

    Teacher Adrianna Vargas prepares a classroom at Woodbury Village Preschool for the return of students after the Eaton Fire in Altadena, Calif., on Jan. 22, 2025.
    Genaro Molina/Los Angeles Times via Getty Images

    Schools can implement flexible deadlines for assignments to accommodate students dealing with transitional living situations and limited access to resources. Adjusting school grading can provide more realistic measures of student progress during periods of disruption.

    This reduces pressure on students and teachers alike.

    Flexible learning schedules – such as hybrid models combining remote and in-person studies – and staggered school hours can help students stay engaged in their education while they adapt to new circumstances.

    A vision for the future

    Schools often serve as pillars of support. They can be safe havens that provide stability.

    Their recovery is closely tied to broader community rebuilding efforts.

    However, the extent to which this occurs may vary depending on the resources and collaboration between local governments, educational leaders and community members, research shows.

    The process is most effective when there is a coordinated effort – one that acknowledges the emotional and social needs of all involved.

    By acknowledging the profound impact of loss, Los Angeles County can rebuild an educational system that is compassionate and honors shared experiences, while promoting healing, learning and community renewal.

    Lee Ann Rawlins Williams does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. What Los Angeles-area schools can learn from other districts devastated by natural disasters – https://theconversation.com/what-los-angeles-area-schools-can-learn-from-other-districts-devastated-by-natural-disasters-247777

    MIL OSI – Global Reports –

  • MIL-OSI Global: US dodged a bird flu pandemic in 1957 thanks to eggs and dumb luck – with a new strain spreading fast, will Americans get lucky again?

    Source: The Conversation – USA – By Alexandra M. Lord, Chair and Curator of Medicine and Science, Smithsonian Institution

    Eggs have been crucial to vaccine production for decades. Bettmann/Getty Images

    In recent months, Americans looking for eggs have faced empty shelves in their grocery stores. The escalating threat of avian flu has forced farmers to kill millions of chickens to prevent its spread.

    Nearly 70 years ago, Maurice Hilleman, an expert in influenza, also worried about finding eggs. Hilleman, however, needed eggs not for his breakfast, but to make the vaccines that were key to stopping a potential influenza pandemic.

    Hilleman was born a year after the notorious 1918 influenza pandemic swept the world, killing 20 million to 100 million people. By 1957, when Hilleman began worrying about the egg supply, scientists had a significantly more sophisticated understanding of influenza than they had previously. This knowledge led them to fear that a pandemic similar to that of 1918 could easily erupt, killing millions again.

    As a historian of medicine, I have always been fascinated by the key moments that halt an epidemic. Studying these moments provides some insight into how and why one outbreak may become a deadly pandemic, while another does not.

    Anticipating a pandemic

    Influenza is one of the most unpredictable of diseases. Each year, the virus mutates slightly in a process called antigenic drift. The greater the mutation, the less likely that your immune system will recognize and fight back against the disease.

    Every now and then, the virus changes dramatically in a process called antigenic shift. When this occurs, people become even less immune, and the likelihood of disease spread dramatically increases. Hilleman knew that it was just a matter of time before the influenza virus shifted and caused a pandemic similar to the one in 1918. Exactly when that shift would occur was anyone’s guess.

    In April 1957, Hilleman opened his newspaper and saw an article about “glassy-eyed” patients overwhelming clinics in Hong Kong.

    The article was just eight sentences long. But Hilleman needed only the four words of the headline to become alarmed: “Hong Kong Battling Influenza.”

    Within a month of learning about Hong Kong’s influenza epidemic, Hilleman had requested, obtained and tested a sample of the virus from colleagues in Asia. By May, Hilleman and his colleagues knew that Americans lacked immunity against this new version of the virus. A potential pandemic loomed.

    The U.S. prioritized vaccinating military personnel over the public in 1957. Here, members of a West German Navy vessel hand over a jar of vaccine to the U.S. transport ship General Patch for 134 people sick with flu.
    Henry Brueggemann/AP Photo

    Getting to know influenza

    During the 1920s and 1930s, the American government had poured millions of dollars into influenza research. By 1944, scientists not only understood that influenza was caused by a shape-shifting virus – something they had not known in 1918 – but they had also developed a vaccine.

    Antigenic drift rendered this vaccine ineffective in the 1946 flu season. Unlike the polio or smallpox vaccine, which could be administered once for lifelong protection, the influenza vaccine needed to be continually updated to be effective against an ever-changing virus.

    However, Americans were not accustomed to the idea of signing up for a yearly flu shot. In fact, they were not accustomed to signing up for a flu shot, period. After seeing the devastating impact of the 1918 pandemic on the nation’s soldiers and sailors, officials prioritized protecting the military from influenza. During and after World War II, the government used the influenza vaccine for the military, not the general public.

    Stopping a pandemic

    In the spring of 1957, the government called for vaccine manufacturers to accelerate production of a new influenza vaccine for all Americans.

    Traditionally, farmers have often culled roosters and unwanted chickens to keep their costs low. Hilleman, however, asked farmers to not cull their roosters, because vaccine manufacturers would need a huge supply of eggs to produce the vaccine before the virus fully hit the United States.

    But in early June, the virus was already circulating in the U.S. The good news was that the new virus was not the killer its 1918 predecessor had been.

    Hoping to create an “alert but not an alarmed public,” Surgeon General Leroy Burney and other experts discussed influenza and the need for vaccination in a widely distributed television show. The government also created short public service announcements and worked with local health organizations to encourage vaccination.

    A 1957 film informing Americans how the U.S. was responding to an influenza outbreak.

    Vaccination rates were, however, only “moderate” – not because Americans saw vaccination as problematic, but because they did not see influenza as a threat. Nearly 40 years had dulled memories of the 1918 pandemic, while the development of antibiotics had lessened the threat of the deadly pneumonia that can accompany influenza.

    Learning from a lucky reprieve

    If death and devastation defined the 1918 pandemic, luck defined the 1957 pandemic.

    It was luck that Hilleman saw an article about rising rates of influenza in Asia in the popular press. It was luck that Hilleman made an early call to increase production of fertilized eggs. And it was luck that the 1957 virus did not mirror its 1918 relative’s ability to kill.

    Recognizing that they had dodged a bullet in 1957, public health experts intensified their monitoring of the influenza virus during the 1960s. They also worked to improve influenza vaccines and to promote yearly vaccination. Multiple factors, such as the development of the polio vaccine as well as a growing recognition of the role vaccines played in controlling diseases, shaped the creation of an immunization-focused bureaucracy in the federal government during the 1960s.

    Inoculating eggs with live virus was the first step to producing a vaccine.
    AP Photo

    Over the past 60 years, the influenza virus has continued to drift and shift. In 1968, a shift once again caused a pandemic. In 1976 and 2009, concerns that the virus had shifted led to [fears that a new pandemic loomed]. But Americans were lucky once again.

    Today, few Americans remember the 1957 pandemic – the one that sputtered out before it did real damage. Yet that event left a lasting legacy in how public health experts think about and plan for future outbreaks. Assuming that the U.S. uses the medical and public health advances at its disposal, Americans are now more prepared for an influenza pandemic than our ancestors were in 1918 and in 1957.

    But the virus’s unpredictability makes it impossible to know even today how it will mutate and when a pandemic will emerge.

    Alexandra M. Lord does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. US dodged a bird flu pandemic in 1957 thanks to eggs and dumb luck – with a new strain spreading fast, will Americans get lucky again? – https://theconversation.com/us-dodged-a-bird-flu-pandemic-in-1957-thanks-to-eggs-and-dumb-luck-with-a-new-strain-spreading-fast-will-americans-get-lucky-again-247157

    MIL OSI – Global Reports –

  • MIL-OSI Global: How populist leaders like Trump use ‘common sense’ as an ideological weapon to undermine facts

    Source: The Conversation – USA – By Dannagal G. Young, Professor of Communication and Political Science, University of Delaware

    Secretary of Defense Pete Hegseth, left, is part of a ‘revolution of common sense’ led by President Donald Trump. Chip Somodevilla/Getty Images

    It’s “the revolution of common sense,” President Donald Trump announced in his second inaugural address.

    And so it is. The latest installment of that assertion came in his Jan. 30, 2025, press conference about the Potomac plane crash. When asked how he had concluded that diversity policies were responsible for a crash that was still under investigation, Trump responded, “Because I have common sense, OK?”

    “Common sense” is what’s known to scholars as a “lay epistemology,” or how regular people make sense of the world. We don’t rely on statistical evidence or expert research while we’re buying lettuce or driving in traffic. Instead, we’re guided by direct experience, emotions and intuition.

    Because it comes from regular people and not institutions that some people deem to be “corrupt,” champions of common sense suggest it leads to a purer form of truth.

    President Donald Trump is asked how he could conclude that DEI policies caused the Potomac plane crash.

    Yet it is precisely because it comes from personal observations and intuition that research shows common sense is steeped in bias and often leads us astray.

    Populist leaders like Trump commonly celebrate common sense and attack expertise and evidence. Populism is less about being liberal or conservative than it is a way of appealing to the public. These appeals are based on a moral separation between the corrupt, bad people with cultural power and the good, pure people who hold the right values – like faith in common sense over expertise and evidence.

    And with the new Trump administration, the elevation of common sense as a virtue has been quick and broad.

    Dusty boots vs. elite credentials

    In his confirmation hearing for the position of secretary of defense, Pete Hegseth pointed to “dust on his boots” as evidence of his qualifications, in contrast to the elite credentials of past defense secretaries, who have often been Washington insiders.

    Hegseth couldn’t name members of the Association of Southeast Asian Nations, an alliance of countries playing a crucial role in global security. But he did show that he knew the diameter of the rounds that fit in the magazine of an M4 rifle.

    That was evidence that he was, in his words, “a change agent. Someone with no vested interest in certain companies or specific programs or approved narratives.”

    Even Meta’s announcement that it would roll back expert fact-checking on its U.S. social media platforms reflects a “lay epistemic” shift.

    Meta explained that fact-checkers, “like everyone else, have their own biases and perspectives” and that these biases had made fact-checking “a tool to censor.”

    Instead, the company would embrace a community notes model where users could provide additional information on posts, which Meta argued would be “less prone to bias.”

    “We’ve seen this approach work on X,” wrote Meta’s Chief Global Affairs Officer Joel Kaplan, “where they empower their community to decide when posts are potentially misleading and need more context, and people across a diverse range of perspectives decide what sort of context is helpful for other users to see.”

    This policy change is probably less of a shift in Facebook founder and CEO Mark Zuckerberg’s principles than a change made out of necessity. Given Trump’s penchant for falsehoods, I imagine Meta’s previous policy would soon have proved financially and politically inconvenient.

    Regardless, the result is a populist’s dream: the demotion of formal expertise in favor of “common sense.”

    When asked whether he knew the members of a regional security alliance, defense secretary nominee Pete Hegseth was stumped.

    Common sense is ideological

    For the past two decades, the rise in social media, combined with declining trust in formal news organizations, has democratized knowledge: the sense that no one person or institution has special access to truth – not scholars with many degrees, not experts armed with scientific evidence or data, and definitely not journalists.

    In a 2020 study of public sentiment across 20 countries, Pew Research Center found that the overwhelming majority of those surveyed, 66%, reported trusting people with “practical experience” to solve problems over experts. Only 28% trusted the experts to solve problems.

    If institutions and experts are perceived as corrupt and ideological, the only truth that we can trust is what comes from our own eyes and our own minds.

    But does common sense bring us to truth? Sometimes, yes. It’s also appealing: Since our observations of the world are informed by our values and beliefs, we often see what we want – such as diversity-hiring initiatives known as “DEI” causing a plane crash, for example.

    And our intuition rarely tells us we’re wrong. This helps account for the existence of confirmation bias, which is our tendency to see and remember things that tell us we’re right. This is also why, even in those rare instances when facts change minds, they rarely change hearts. If we do update our knowledge with correct information, research has shown that our gut will still tell us our overall view of the world was right.

    Ironically, studies also show that the more a person trusts common sense, the more likely they are to be wrong.

    My research has shown that the people most likely to believe misinformation about COVID-19 and the 2020 election were those who placed more trust in intuition and emotion, and less trust in evidence and data. In addition, the more people liked Donald Trump, the more they valued intuition and emotion – and rejected evidence and data.

    So, common sense is ideological.

    When our pathway to knowledge is limited by our experiences and intuition, we’re not actually looking for truth. We’re happy with whatever answers are available, including conspiracy theories or explanations that make us feel good and right.

    We blame individuals – especially people we don’t like or identify with – for their own misfortune. We tend to think “those people should be better and try harder” instead of looking for public policy solutions to problems such as poverty or drug addiction. Without evidence and data summarizing large trends – such as cancer rates tracked through National Institutes of Health funding or ocean temperatures tracked by National Science Foundation funding – we are limited to what we can see through our own eyes and biases.

    And our limited observations merely reinforce our underlying beliefs: “My neighbor probably has breast cancer from taking that medicine I don’t like” or “Today is probably just a randomly hot day.” We’ll either overgeneralize from or downplay these limited examples depending on what our “common sense” says.

    So, when populists elevate common sense as a virtue, it’s not just to celebrate how regular people understand the world. It’s to promote a worldview that rejects verifiable facts, exaggerates our biases, and paves the way for even more propaganda to come.

    Dannagal G. Young was a co-investigator on an NIH grant that provided funding for one of the studies referenced in this piece.

    – ref. How populist leaders like Trump use ‘common sense’ as an ideological weapon to undermine facts – https://theconversation.com/how-populist-leaders-like-trump-use-common-sense-as-an-ideological-weapon-to-undermine-facts-248608

    MIL OSI – Global Reports –

  • MIL-OSI Europe: Reviewed supervisors overall applied the EBA’s recommendations on tax integrity and dividend arbitrage trading schemes, the EBA Report finds.

    Source: European Banking Authority

    The European Banking Authority (EBA) today published a Peer Review assessing the effectiveness and degree of supervisory convergence of issues relating to tax integrity and dividend arbitrage trading schemes following the implementation of its 2020 Action plan on dividend arbitrage trading schemes. The action plan aimed to clarify that supervisors, while not responsible for investigating tax crimes, have responsibility for ensuring that financial institutions have systems and controls in place to manage tax crime risks.

    The Peer Review found that most of the reviewed supervisors largely or fully applied the benchmarks assessed and, overall, supervised these areas adequately.  This indicates that the EBA’s action plan has been effective in strengthening supervision in this area.

    The Peer Review sampled six national prudential authorities and supervisors on anti-money laundering and countering the financing of terrorism (AML/CFT) to see how they integrated tax integrity into their risk-based supervisory work. It considered tax integrity issues broadly, not just dividend arbitrage trading schemes (such as cum-cum or cum-ex schemes), as these vary across jurisdictions.

    The Peer Review focuses on the responsibilities assigned to AML/CFT and prudential supervisors, mainly to ensure that financial institutions have systems and controls in place to manage tax crime risks.  The Report does not look at or comment on the effectiveness of the national frameworks in place to identify or investigate tax crimes which are beyond the responsibility of AML/CFT and prudential supervisors.

    The Report sets out its findings based on four benchmarks:

    •            the effectiveness of integration of tax integrity into risk-based AML/CFT supervisory work on credit and financial institutions;

    •            the effectiveness of integration of tax integrity into sectoral and institution-specific ML/TF risk assessments;

    •            the effectiveness of arrangements for reviewing the due consideration of tax integrity in institutions’ internal governance arrangements;

    •            the effectiveness of consideration of tax integrity in the assessment of the reputation, honesty and integrity of members of the management body and key function holders.

    The EBA identified general and individual follow-up measures, which will help further build consistency and effectiveness in supervisory outcomes across the EU and to limit the financial system’s exposure to illegal tax schemes and other tax evasion.

    Legal basis and background

    Article 30 of the EBA Founding Regulation requires the EBA to periodically conduct peer reviews of some or all of the activities of competent authorities within its remit, to further strengthen consistency and effectiveness in supervisory outcomes. Peer reviews identify follow-up measures to achieve this, together with best practices seen in competent authorities. After two years, the EBA is required to assess the adequacy and effectiveness of actions taken by competent authorities in response to the follow-up measures.

    The Peer Review has been performed by an ad hoc Peer Review Committee made up of EBA and competent authorities’ staff in accordance with the EBA peer review work plan for 2023-2024 and following the process in Article 30 of the EBA Regulation and EBA peer review methodology.

    MIL OSI Europe News –

  • MIL-OSI China: Beijing to host 3rd China International Supply Chain Expo in July

    Source: China State Council Information Office

    The third China International Supply Chain Expo will be held in Beijing from July 16 to 20 this year, the China Council for the Promotion of International Trade (CCPIT) said on Thursday.

    With a total exhibition area of 120,000 square meters, the expo features six major exhibition areas — namely advanced manufacturing, clean energy, smart vehicles, digital technology, healthy living and green agriculture.

    To date, nearly 200 companies have signed up to participate, the CCPIT revealed.

    As the world’s first national-level exhibition focusing on supply chains, the expo is an internationally shared public product. First held in 2023, the expo has contributed to building more secure, stable, open and inclusive global industrial and supply chains, according to the CCPIT.

    MIL OSI China News –

  • MIL-OSI United Kingdom: Don’t miss your chance to win up to £1,000 off your Council Tax bill

    Source: City of Derby

    Time is running out for Derby residents to be in with a chance to win up to £1000 off next year’s Council Tax bill.

    Electronic billing is another way to receive your Council Tax bill. Instead of getting a paper bill in the post, you can view your bill online. Those who make the switch by 14 February 2025 will be entered in to a prize draw.

    The first prize is up to £1000 off your Council Tax bill for the 2025/26 year. There are four runner-up prizes of up to £500 off your next full year’s Council Tax bill.

    Available 24 hours a day, seven days a week, the secure online system means you can check your Council Tax bill 24 hours a day, seven days a week. You can also set up or change a Direct Debit, make a payment arrangement or update your contact details.

    Council Tax payers first to register for myAccount. As soon as this account is activated, you can select the electronic billing option. If you’re already registered for e-billing, you’re automatically entered.

    How to enter

    • Sign in or Register to myAccount
    • Select the option to “Manage Council Tax and Benefits”
    • Then select “Manage Your Services”
    • If you’re already subscribed to the Council Tax online service, choose “Show Account Details” then select the “Paperless e-billing Sign Up” option.
    • If you haven’t subscribed to the Council Tax online service before, choose “Add Service” and then “Council Tax”. You will need to enter your 9-digit Council Tax reference number (you can find this on your previous Council Tax bill) and answer a few questions about your bill to confirm your identity.
    • Once you’ve linked your Council Tax account you’ll be asked “Would you like to go Paperless?” Follow the link to complete your e-billing sign up.

    Councillor Hardyal Dhindsa, Cabinet Member for Digital and Organisational Transformation, said:

    E-billing is a great way to manage your Council Tax account. It’s quick and secure, giving you 24/7 access to your information.

    By not receiving paper bills, you’ll also help to reduce paper waste and keep costs down. Every time someone switches to e-billing, the Council saves money on print and postage, and those savings go directly to maintaining essential services.

    With the deadline fast approaching, I encourage all residents to sign up for e-billing today for a chance to win a significant discount on their Council Tax.

    Terms and Conditions apply.  See the prize draw details

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: NFU Scotland conference 2025 – UK Government keynote address

    Source: United Kingdom – Executive Government & Departments 2

    Today (Thursday, 6 February) UK Government Scotland Office Minister Kirsty McNeill spoke at the NFU Scotland conference in Glasgow.

    Good morning everyone, thank you for inviting me to be here with you today. I’d like to thank Martin Kennedy for that kind introduction and congratulate him for his work in leading the NFUS as he finishes his term as your President.

    I’d also like to start with a huge thanks for your dedicated work in continuing to produce, gather and distribute top quality food across the whole of the UK. But more than that, thank you to all farmers and crofters for the central role you play in our national life and heritage in Scotland.

    Despite countless challenges – not least the famous Scottish climate – farmers continue to work tirelessly, day after day, to feed the United Kingdom, and further afield.

    And be in no doubt, the UK Government will continue to do our part in supporting Scottish farmers and crofters, who form such a central part of our rural and island communities.

    Of course, the majority of environmental policy is devolved, with agriculture policy fully devolved. We will continue to respect the devolution settlement and strengthen relations with the Scottish Government as part of our ongoing resetting of relations.

    But there is much we can and are doing for farming and rural communities more broadly through our Plan for Change to turbo-charge economic growth and deliver a decade of national renewal and opportunity for all.

    Now, let’s be real. I know what you want to ask me about today. And I know that you’re angry. So I’m not going to shy away from a conversation about APR. But I do want to contextualise it. It’s the job of the NFU to make the case for your members. And it’s the job of the UK Government to listen, yes, but to also take a broad and long term view, balancing competing perspectives.

    And the facts are these. The UK Government’s Autumn Budget last year delivered the largest settlement for the Scottish Government in the history of devolution.

    The Chancellor announced on 30 October an additional £1.5 billion for the Scottish Government to spend in this financial year, and an additional £3.4 billion in the next.

    The Scottish Government will be able to allocate this record funding to devolved areas, including agriculture and rural communities. And that does mean your interests will be weighed alongside other devolved policy areas – that’s devolution in action. But I hope you will also see the benefit to your members of this record investment we’ve made available for Scotland’s public services. Because you know better than anyone that our farming communities are too often the ones with the worst access to NHS services. Public transport is sparse or non-existent. Cuts to schools and local services often hit your families harder than those in our big cities. I’m proud of this investment into the Scottish Government and I hope you will come to be too.

    And where policy is reserved, such as in relation to immigration or international trade, we will help support the industry through continuous engagement and development of policy. This is how devolution should work, and we are determined that it does.

    Our new Food Strategy will deliver clear long-term outcomes that create a healthier, fairer, and more resilient food system. We will work together with the Scottish government to complement the progress that they have already made in this area.

    Russia’s illegal invasion of Ukraine sent shock waves across the global supply chain, and the price of fertilisers and energy bills skyrocketed. That is one reason why we have launched our Clean Power 2030 Action Plan. By sprinting towards clean, homegrown energy, we will protect our energy security from international shocks, create thousands of good quality jobs, tackle climate change and drive down bills for good.

    We are taking some bold steps, including by setting up Great British Energy. This new, homegrown energy company – headquartered here in Scotland – will provide a catalyst for new, clean energy projects across the UK.

    Unpredictable weather has been causing floods and droughts as the climate continues to change, directly impacting crop production and, consequently, your profits. This hits particularly hard in areas that are less favourable for farming, and there are many of these in Scotland.

    This industry is resilient. I am in awe of everyone in this room who contributes to our food security, our rural and island communities and the growth of the UK economy. But let me make one thing clear – this Government does not take your resilience and adaptability for granted.

    My own constituency of Midlothian is dotted with farms and farmers, many of whom I have had the pleasure of meeting both as I campaigned, and in my first proud months as their representative in Parliament.

    I know that there is no substitute for meeting people in the places they live and work, on their terms. I have carried this principle into my first months as a Minister in the Scotland Office. On one of my very first ministerial visits last year I met with Lucy and Pete Grewar, who own Sheriffton Farm in Perthshire.

    I was there to discuss their challenges in finding staff to help pick their broccoli, and made a promise to come back with a Home Office ministerial colleague to visit Scotland to hear about these issues directly. I was thrilled that we were able to do that earlier this week when alongside NFUS representatives, Seema Malhotra, the Minister for Migration and Citizenship, and I visited a soft fruit farm in Aberdeenshire.

    Whilst on the farm, Seema and I had further discussion with the owners and NFUS about the Seasonal Workers; Visa scheme and how labour shortages impact their work, but also the need to drive economic growth and encourage domestic workers to take up these vital jobs.

    I also had similarly frank and productive conversations with crofters on the Isle of Lewis. We will continue to engage with you, and I will continue to invite my UK Government colleagues to come up to Scotland and hear directly from rural communities what they need.

    I value every single one of these visits as it gives me the opportunity to really hear from the people who are directly impacted by Government policy, and who also help us achieve our goals of food security, sustainability, Net Zero, economic growth, and countless others.

    And I just want to reassure you that I really listen in these conversations and I do, personally, read everything that I am sent in follow up. So if you have evidence you want me to read, stories you want me to hear or places you want me to visit I give you my word: you will always get a hearing from me. Just be in touch.

    Now there are four areas of UK Government policy that I want to focus on in the time I have left.

    Firstly, inheritance tax.

    This Government was forced to make many difficult decisions when it came into power due to our own challenging inheritance of the £22 billion financial black hole in public finances left by the previous Conservative administration.

    We could have just ignored it. We could have kicked the problem down the road. But when we stood for election we promised to take the hard choices head on. We needed to act.

    I know many of you in this room don’t agree with how we responded and feel let down. So I want you to hear in my own words, as someone who represents farmers right across my own constituency, why the Government made this decision.

    Under the current system, APR and BPR have granted 100% relief since 1992 on business and agricultural assets. However, this is heavily skewed towards the very wealthiest landowners and business owners.

    According to the latest data from HMRC, 40% of agricultural property relief is claimed by just 7% of UK estates making claims. That means that just 117 estates across the UK were claiming over £200 million of relief in 2021-22.

    Unfortunately, we also know that the reality today is that buying agricultural land is one of the most well-known ways to avoid inheritance tax.

    This has artificially inflated the price of farmland, locking younger farmers out of the market.

    None of this is either fair or sustainable. That is why we are reforming how agricultural and business property relief work. From April 2026, relief will be targeted in a way that still maintains significant tax relief while supporting the public finances, and protecting working people.

    I would like to thank Martin and his colleagues at NFUS for their helpful engagement with myself and the Secretary of State for Scotland, Ian Murray, on this issue. I am grateful for the dialogue we have had and will continue to have.

    We have had a disagreement, not a falling out – a difference of opinion on one question should not – must not – prevent us from talking about all the others. And talking is what we will continue to do. We will continue to engage with stakeholders in meetings like this and on farms, and we will continue to strengthen relations with the Scottish Government, respecting the fact that agriculture policy is devolved. 

    That’s why in the coming months the Scotland Office will host a food and farming roundtable where we will invite the industry and the Scottish Government to sit together and discuss these important issues. This will allow us to keep these conversations going.

    Now I would like to further address the devolved agriculture budget.

    I appreciate the vital role Scottish agriculture plays in rural communities and the economy in Scotland. The Secretary of State for Scotland wrote to the Defra Minister for Rural Affairs and Food Security outlining this prior to the Autumn Budget.

    And at the Budget, Defra announced the biggest budget for sustainable food production and nature recovery in history. This included £620m for Scotland for 2025-2026, baselined from last year. This is an above-population share, and the ringfence was removed to respect the devolution settlement – meaning it is for the Scottish Government to determine how they support farmers and rural communities with the public services they rely on.

    But we did not stop there. We wanted to address the issues rural communities face holistically – and the Autumn Budget delivered on that.

    The fuel duty freeze extension means that rural communities who depend on cars, vans and tractors will be able to save more of their income.

    The Budget also gave the go ahead for rural growth deals in Scotland, such as for Argyll and Bute, creating hundreds of jobs and countless opportunities for rural and island communities there.

    We recognise how important it is for rural areas, especially in Scotland, to have the same broadband connectivity and opportunities as the rest of the UK, so we announced in the Budget last year an additional £500 million for Project Gigabit and the Shared Rural Network.

    Next I would like to touch on seasonal workers, referred to earlier.

    While we are not currently considering a Scotland-only visa, this Government knows how important securing the right workforce is to the agri-food chain. This includes skilled jobs such as butchers and vets and temporary roles, such as seasonal horticulture harvesting and poultry processing jobs.

    Underlining the government’s commitment to the horticultural and poultry industry, the Seasonal Worker visa route has been confirmed for 2025, with a total of 43,000 Seasonal Worker visas available for horticulture and 2,000 for poultry next year.

    This will help the sector secure the labour and skills needed to bring high quality British produce, including strawberries, rhubarb, turkey and daffodils to market.

    In addition, Defra published the 2023 Seasonal Workers Survey report on 21 October 2024. 

    The survey showed that the vast majority of respondents reported a positive experience from their time in the UK and 95% expressed a desire to return. This excellent feedback reflects so well on farmers and the vibrancy of rural communities.

    When I visited a Perthshire farm weeks into office, the clearest thing I heard was that Scotland’s farmers wanted a hearing at the Home Office – I promised then that I’d try to bring a Home Office minister to Scotland to hear from farmers directly and that’s a promise kept. Just two days ago I was in a farm in Aberdeenshire with Seema Malhotra, the immigration minister, hearing about how seasonal worker rules could be made to work better for you. The door is always open and so are our minds – we want an ongoing relationship with a practical focus on getting things done.

    -And finally, just let me say something on future trade deals.

    Supporting farmers will always be a priority for this Government. We have been clear we will protect farmers from being undercut by low welfare and low standards in trade deals.

    We will continue to maintain our existing high standards for animal Health and food hygiene, ensuring that imported products comply with our domestic standards and import requirements.

    We are committed to developing a trade strategy that will support economic growth and promote the highest standards of food production.

    The UK has a network of sixteen agrifood and drink attachés around the world who break down market access barriers, create new export opportunities and protect existing trade. Our attachés work closely with Scottish Development International’s global network on delivering market access / export opportunities for Scotland.

    Promoting Scotland internationally through initiatives such as Brand Scotland – a new initiative led by my department backed by three quarters of a million pounds of funding – is a priority for this Government, and these export opportunities are an excellent way to do that.

    In addition, we will seek to negotiate a Sanitary and Phytosanitary agreement with the EU to reduce trade frictions, boost trade and deliver significant benefits on both sides.

    I want to reiterate my commitment to you that this Government will do everything it can to support you, listen to you and advocate for you, to ensure we not only protect but also maximise the potential of this incredible industry.

    Let me end by saying that it has been the honour of my life to serve as MP of Midlothian since July of last year, so I am here today telling you that I will fight for you as a Minister, but I also understand the views of my constituents. Many of them have the same concerns as you.

    Many of them are either farmers themselves, or live in a rural community where farming is a crucial backbone.

    And I want to assure you I understand your importance is more than the material benefits you bring – important though that is. Alongside farming, tourism and heritage are also in my portfolio. I treasure Scotland’s vibrant national museums, and the National Museum of Rural Life is no different – it’s a beautiful, living tribute to Scottish farming and rural life.

    Every time I visit, I can feel the importance of farming to the Scottish identity. I know that all you want is to be able to do what you are good at, what you love.

    It is my duty and that of this Government to ensure you have everything you need to do that, to protect your place in this extremely important endeavour. I promise you we will not let you down. It’s just too important.

    I am going to take a few questions now. Thank you to NFUS for inviting me here today, and to all of you for coming along. I wish you the very best for the rest of your conference.

    Updates to this page

    Published 6 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI: WTW debuts new Insurance Pricing and Underwriting Technology to accelerate speed to market in Guidewire PolicyCenter

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Feb. 06, 2025 (GLOBE NEWSWIRE) — WTW (NASDAQ: WTW), a leading global advisory, broking, and solutions company, today announced the latest advancement in its Radar rating and analytics engine with the launch of its Rating, Pricing, and Underwriting acceleratori for Guidewire.

    Radar, WTW’s external rating engine, is an end-to-end solution designed specifically for the insurance sector. It provides cutting-edge analytics and decision-making guidance for pricing and underwriting, deployed to the market in real time. Radar’s new Guidewire accelerator will streamline the integration of Radar with PolicyCenter, Guidewire’s policy administration system, allowing carriers to realize the benefits of Radar more quickly. The accelerator uses a highly innovative approach that draws Guidewire product definitions directly into Radar’s pricing environment, massively expediting the integration process.

    Market and customer demand for more innovative insurance solutions has increased significantly in recent years. Pricing and underwriting teams have been stretched he need to provide new products in a competitive market while balancing regulatory requirements for rating accuracy, transparency, and fairness. Radar is a proven solution that delivers success for insurers and their customers in this challenging environment.

    Gio Smyth, Managing Director and Americas Regional Leader, Insurance Consulting and Technology, WTW, commented, “WTW’s integration between Guidewire PolicyCenter and our Radar technology platform will enhance the operational efficiency of our shared clients by reducing implementation time and cost, enabling them to maximize the benefits of Radar. The addition of game-changing speed and accuracy to the pricing process makes it possible to update market pricing in minutes rather than days, weeks, or months, affording insurers a particular competitive edge.”

    Will Murphy, Vice President, Global Technology Alliances, Guidewire, said: “With the launch of the Radar Accelerator from WTW, our shared customers can now quickly leverage a valuable rating solution that enables insurers to realize quicker and more accurate underwriting and pricing performance.”

    About Radar

    Smarter insights. Better results. Delivered faster.

    Radar is a complete, end-to-end analytics and model deployment solution. It was built specifically for insurers by insurance experts and continually enhanced through ongoing investment, development, and innovation.

    Radar delivers proprietary machine learning algorithms, real-time decision-making, regulatory reporting, speed, and ease of deployment.

    Radar is part of WTW’s Insurance Consulting and Technology business, which serves the insurance industry with a powerful combination of advisory services and leading-edge technology. Its mission is to innovate and transform insurance and deliver solutions that help clients better select, finance, and manage risk and capital.

    We work with clients of all sizes globally, including most of the world’s leading insurance groups. Over 1,000 client companies use our specialist insurance software on six continents. With over 1,700 colleagues in 35 markets, we continually strive to be a partner and employer of choice to the insurance industry.

    About Insurance Consulting and Technology (ICT)

    WTW’s Insurance Consulting and Technology (ICT) business has over 1,200 colleagues operating and capital, improve business performance, and create competitive advantage – by focusing on financial and regulatory reporting, enterprise risk and capital management, M&A and corporate restructuring, products, pricing, business management, and strategy.in 35 markets worldwide. ICT is a leading provider of advice, solutions, and software – primarily to the insurance industry. Its consulting services help clients manage risk

    About WTW

    At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk, and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce, and maximize performance.

    Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success and provide a perspective that moves you.

    Learn more at wtwco.com.

    Media Contact

    Douglas Menelly +1 516 445 5387 | douglas.menelly@wtwco.com

    _______________
    i https://marketplace.guidewire.com/s/product/radar-accelerator-for-rating-and-pricing-for-policycenter/01t3n00000SqGjIAAV?language=en_US

    The MIL Network –

  • MIL-OSI: WeFi Launches Deobank — the World’s First Decentralized Onchain Bank

    Source: GlobeNewswire (MIL-OSI)

    CHARLESTOWN, Saint Kitts and Nevis, Feb. 06, 2025 (GLOBE NEWSWIRE) —

    WeFi, a Web3 financial ecosystem, announces the launch of its deobank — the first Decentralized Onchain Bank aimed to remove the boundaries between physical payments and the DeFi world. Planning to draw from WeChain’s decentralized ZK Payment Engine capabilities and relying on AI-assisted simplified compliance procedures and AI agents, WeFi’s deobank is committed to channeling innovation into the financial sphere and offering banking services to everyone, including previously disadvantaged populations.

    Unlike the existing neobanks, deobanks as a new category of financial services providers will offer their clients full control over their deposited funds through non-custodial wallets. In the current unstable regulatory environment, account freezes and withdrawal limitations are increasingly becoming the norm, meaning that users frequently lose flexibility in managing their funds or access to their custodial wallets.

    WeFi’s deobank breaks with perpetuating legacy TradFi flaws, fully committed to catering to people who would like but cannot participate in the global financial system. Leaving excessively stringent account opening criteria in the past, deobanks will adapt their regulatory stance to comply where it is needed while leveraging its technology to simplify and streamline KYCs thanks to AI.

    Operating entirely on blockchain, WeFi’s deobank will bypass the outdated banking infrastructure by limiting its ties to traditional financial institutions. Removing intermediaries entirely, WeFi’s deobank creates greater security, reduced operating costs, and enhanced transparency — all while offering better flexibility to adapt to the constantly evolving global or local regulatory environment. Preserving access to fiat money on ramps and off ramps, deobanks as a vertical will mainly rely on stablecoins, making transaction confirmations fast, secure, low-cost, and border-independent.

    WeFi’s deobank plans to adapt to the increasing demands for customers’ flexibility. The modern consumer culture relies on phones, and very few people actually need a plastic card in the times when most payments can be made through Apple Pay and Google Pay.

    “This is not just a new product — it’s a new paradigm in digital banking,” comments Maksym Sakharov, Co-Founder and Group CEO at WeFi. “The rise of neobanks has transformed the way we think about opening a bank account, transferring money, dealing with cross-border payments and exchange rates. But neobanks dropped the ball way too early — and WeFi is here to pick it up. By removing an additional layer of the TradFi limitations, we will be able to make banking more convenient, accessible, and all-encompassing than ever before.”

    Discarding the low APR interest rates for traditional bank deposits and savings accounts, WeFi will offer its customers an opportunity to build meaningful wealth generation through DeFi and Web3 services. Individualized AI agents will adapt to the user’s personal risk aversion profile and preferred investment opportunities, offering advice in navigating the crypto sphere, helping execute trades, and boosting earnings. By purchasing the ITO node, contributors will be able to participate in token minting and offer their computational capacities for network validation and functioning. Shortly after its launch, the product will include options like staking, and participation in liquid pools with more variability to follow with the expansion of the WeFi ecosystem.

    The platform also plans to integrate WeFi’s native token, WFI, rewarding its users for participation in the ecosystem’s decision-making process with fee rebates, higher spending limits on cards, and more.

    About WeFi
    WeFi is the world’s first Deobank – Decentralized Onchain Bank. It leverages Blockchain Technology to simplify DeFi experience while keeping it fast, secure and efficient. On top of all the traditional financial services like virtual cards, loans and asset transfer, WeFi proposes non-custodial accounts and stablecoin earnings powered by AI Agents.

    More information can be found here: Website | X

    Contact

    WeFi
    press@wefi.co

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8d029ec5-2e37-4c96-9229-dfb4ad8eb73b

    The MIL Network –

  • MIL-OSI: Drone Operations Industry Substantially Expanding Usages, Transforming into A Billion Dollar Revenue Opportunity

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., Feb. 06, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Drones play many roles in every region of the globe… and they seem to be utilized in more situations every day! A report from MarketsAndMarkets said that the Commercial Drone market alone is projected to grow from USD 5.32 billion in 2024 to USD 9.34 Billion by 2030. The report added: “Drones are particularly important for inspecting difficult-to-reach locations at certain altitudes or in contaminated surroundings. The use of drones has modernized the telecommunication tower scrutiny as they can be used to carry out supervision of these towers cost-effectively and in less time. Drones can also be employed for aerial evaluation of buildings and other infrastructures, such as pipelines, electric grids, offshore plants, and solar plates. They can use thermal imaging cameras to detect hotspots on solar plates; spots where energy is not spreading evenly. This can enhance the productivity of solar power plants by the instant identification of potentially problematic areas… Drones can be used to deliver medical supplies in difficult terrains. Drones are considered the future of the last-mile delivery for consumer supplies since they will reduce cost per delivery, along with delivery time. As the wages of delivery persons persist to rise, autonomous delivery or human-less services will become gradually advantageous, especially in developed countries… Emerging economies lack access to roads, and this hampers speedy delivery of basic medical supplies such as blood, medicines, vaccines, drugs, etc. Air transportation of these supplies is costly.” Active Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), Draganfly Inc. (NASDAQ: DPRO), Red Cat Holdings, Inc. (NASDAQ: RCAT), Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), Safe Pro Group Inc. (NASDAQ: SPAI).

    MarketsAndMarkets continued: “The success of drones in the fields of ecology and environment creates a trust factor that they can also be utilized in public health, especially to deliver medical couriers. The crucial aspect of using drones is that they reduce the travel time for diagnosis and treatment. Drones are a cost-effective replacement for road transportation in challenging terrains. Drones can be used in disaster relief processes for saving victims and delivering food, water, etc., to survivors and rescue teams. As drone technology advances, regulatory bodies globally are proactively shaping clearer and more supportive regulations to facilitate drone operations. This strategic initiative aims to lower operational barriers and enhance safety, thereby accelerating the adoption of drones across various sectors. Enhanced regulatory frameworks are anticipated to unlock significant business opportunities and drive innovation in drone applications.”

    ZenaTech (NASDAQ:ZENA) ZenaDrone Starts Testing its High-Density Batteries to Extend Flight Time for ZenaDrone 1000 Drone for US Defense Applications – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a technology company specializing in AI (Artificial Intelligence) drone, Drone as a Service (DaaS), enterprise SaaS and Quantum Computing solutions, announces that ZenaDrone will commence testing work this quarter on a high density battery for the ZenaDrone 1000 multifunction AI drone designed for defense and commercial applications. High density batteries are lightweight and enable longer drone flight times, more reliability and endurance for longer defense missions, heavier payloads, and greater operational success of a wide range of military applications. ZenaDrone will use the batteries from ZenaTech’s affiliated company Galaxy Batteries Inc.

    “High density batteries are key to longer flight times and reliability in the harsh conditions of military defense operations such as cargo and resupply, intelligence gathering, surveillance, and reconnaissance missions. We will test to ensure these batteries will provide the customization, cost savings, supply chain control and superior performance we require. This is important to our goal to become a Blue UAS-certified supplier to sell to US defense branches and other military organizations,” said CEO Shaun Passley, Ph.D.

    ZenaDrone 1000 is an autonomous multifunction drone offering stable flight, maneuverability, heavy lift capabilities, innovative software technology, sensors, AI, and purpose-built attachments, along with compact and rugged hardware engineered for military and industrial use. The company previously completed two paid trials with the US Air Force and the US Navy Reserve for logistics and transportation applications carrying critical cargo, such as blood, in the field.

    The company previously announced that its supply chain is fully NDAA (National Defense Authorization Act) compliant and that it plans to apply for Green UAS (Unmanned Aerial System) followed by Blue UAS certification, an approved supplier list for drone companies.

    NDAA compliance refers to adhering to the provisions outlined in the National Defense Authorization Act, which is a set of US federal laws passed every year that specify the budget and expenditures for the Department of Defense (DoD) and address growing cybersecurity concerns. For a product to be NDAA compliant, it must not be produced by a set list of Chinese manufacturers, which extends to the chipsets, cameras, displays and other technology used.

    The Blue UAS (Unmanned Aerial System) program is a stringent government approved supplier list of drone companies that wish to do business with the US DoD; suppliers including ZenaDrone must meet strict NDAA cybersecurity and supply chain sourcing requirements. The Green UAS program is essentially the same as the Blue UAS program but has a more streamlined and faster certification process without the specifications on country of origin.   Continued… Read this full release by visiting: https://www.financialnewsmedia.com/news-zena/

    Other recent developments in the drone industry include:

    Draganfly Inc. (NASDAQ: DPRO), an award‑winning leader in drone solutions and systems development, recently confirmed through recent sales activities its positioning and preparedness to support the enhancement of border security amid evolving global trade and security uncertainties and shifting geopolitical dynamics. Highlighting recent sales activities with policing agencies, Draganfly continues to strengthen its position to support border security with advanced drone technology solutions.

    “Recent global trade challenges, tariff uncertainties, and security concerns underscore the critical importance of secure borders and resilient supply chains,” said Cameron Chell, CEO of Draganfly Inc. “Our recent sales activities with policing agencies are a testament to our ability and readiness to provide drone technology and services in support of border security solutions.”

    Red Cat Holdings, Inc. (NASDAQ: RCAT), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, recently announced that it will host an Investor and Analyst Day on Thursday, February 27 from 11:00 a.m. – 1:00 p.m. eastern time at the Nasdaq MarketSite in New York City.

    The event will feature presentations by Jeff Thompson, Red Cat’s CEO; Geoffrey Hitchcock, Red Cat’s chief revenue officer and other members of the executive leadership team. Robert Imig, Head of USG Research and Development at Palantir Technologies, Inc. (Nasdaq: PLTR) will also present a roadmap for its recently announced strategic partnership with RedCat.

    Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a technology company in the defense, national security and global markets, recently announced that Kratos Unmanned Systems Division successfully executed a multi-week demonstration of its self-driving truck platooning system technology with FPInnovations, a Canadian research and technology organization that assesses, adapts and delivers solutions to Canada’s forest industry’s total value chain.

    The Kratos developed self-driving system “kit”, which enables vehicles to be capable of autonomous driving, was deployed for evaluation in forestry operations in northern Québec, Canada. Deployment of this technology is intended to mitigate driver shortages, improve safety protocols, boost rural economic vitality, and contribute to the development of a regulatory framework for autonomous vehicles. The automated platooning technology performed exceptionally well in the challenging forestry environment and hauled both unloaded and loaded timber trailers. The Kratos system demonstrated precision navigation in automated platooning mode along complex off-pavement roadways with degraded access to GPS, steep grades, severe visibility-limiting dust, sub-freezing temperatures, rain, and under variable day/night/twilight lighting conditions.

    Safe Pro Group Inc. (NASDAQ: SPAI), a leading provider of artificial intelligence (AI) solutions specializing in drone imagery processing, recently announced that it has entered into a multi-year Memorandum of Understanding (MOU) with NIBULON Ltd. (NIBULON) to cooperate on addressing Ukraine’s agriculture crisis which has sustained billions in damages and losses due to the ongoing war.

    Safe Pro will provide NIBULON with services and access to SpotlightAI™, its patented hyper-scalable AI-powered drone demining ecosystem running on the Amazon Web Services (AWS) cloud. The collaboration will focus on utilizing AI technology to drastically reduce the time and costs of manually surveying Ukrainian farmland potentially contaminated by landmines and unexploded ordnance (UXO).

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    Contact Information:

    Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757

    SOURCE: FN Media Group

    The MIL Network –

  • MIL-OSI Economics: Consider it done: How TAMM is transforming government services in Abu Dhabi with AI

    Source: Microsoft

    Headline: Consider it done: How TAMM is transforming government services in Abu Dhabi with AI

    ABU DHABI, U.A.E. – Hammad Hanif Pasha, an IT consultant who has lived in Abu Dhabi since 2010, feels like the Emirate’s government services are always within reach, thanks to TAMM.

    The AI-powered TAMM app puts about 950 Abu Dhabi government services at his fingertips. He says it has improved his quality of life by making it so much easier – no more fighting traffic to get to an appointment, no more waiting in lines.

    “I haven’t been in a government building in four or five years,” he said. “I just don’t need to go anymore.”

    The app, now in a 3.0 version, caters to 2.5 million Abu Dhabi citizens, residents and businesses, who made more than 10 million transactions in the past year, ranging from paying traffic fines to getting a marriage license. With TAMM’s AI assistant, finding answers to even the most complex government processes has become effortless – as simple as sending a text message.

    Pasha cited car registration as one of the most convenient features. “It used to take three or four days before – you had to go for the inspection of the car, then find the right insurance, and after that part was done, you had to make sure that the actual registration happened on the same day that the insurance started.”

    “If for any reason you failed, you had to get another one-day insurance policy to make it match.”

    Now it’s easy, he says. It can all be done in the app, and there’s no waiting in lines, other than for the actual inspection of the car. The AI chatbot recommended the right type of insurance policy and synchronized it with registration.

    MIL OSI Economics –

  • MIL-OSI: CERo Therapeutics Holdings, Inc. Highlights Progress

    Source: GlobeNewswire (MIL-OSI)

    Increased cash balance and momentum with both Nasdaq and Phase 1 trial initiation mark strong beginning for 2025

    SOUTH SAN FRANSCISCO, Calif., Feb. 06, 2025 (GLOBE NEWSWIRE) — CERo Therapeutics Holdings, Inc., (Nasdaq: CERO) (“CERo” or the “Company”) an innovative immunotherapy company seeking to advance the next generation of engineered T cell therapeutics that employ phagocytic mechanisms, provides investors with a corporate update highlighting its improved cash balance following its recent capital raise, steady progress in the initiation of its Phase 1 clinical trial of CER-1236, and a pathway toward maintaining Nasdaq listing.

    CEO Chris Ehrlich commented, “We have had a very strong entry into 2025, which has greatly improved the outlook of the Company from the previous year. As announced, we completed a $5 million financing, which gives us a current cash position of approximately $8 million. We believe this funding will allow us to achieve numerous value-creating milestones in the coming year. In addition, we have also completed the conversion of the majority of our preferred shares into common shares, which significantly improves our cap table moving forward.

    “Further, we have been diligently working with FDA to complete the set-up of operations and processes needed to initiate our Phase I clinical trials of CER-1236 in AML as noted in our communications with the FDA. We have made significant progress with a leading cancer center as our initial trial site and believe we will dose our first patient in the trial during the first half of the year. In addition, we anticipate submitting our second IND to expand and explore CER-1236 into breast and lung cancers in the coming months.

    “Finally, we executed a 100:1 reverse stock split, which enabled us to better position ourselves within the market and move us toward complete Nasdaq compliance. A subsequent meeting with Nasdaq has provided us with the additional time we need and a path forward to achieve that compliance in the near term.

    “CERo has made measurable progress in the last two months, and we believe we are now in a favorable position to progress our business plan, as well as to provide a clear pathway toward shareholder value. We thank our team for its invaluable insight and tireless work, as well as our advisors who have been instrumental in getting us to this moment,” concluded Mr. Ehrlich.

    About CERo Therapeutics Holdings, Inc.

    CERo is an innovative immunotherapy company advancing the development of next generation engineered T cell therapeutics for the treatment of cancer. Its proprietary approach to T cell engineering, which enables it to integrate certain desirable characteristics of both innate and adaptive immunity into a single therapeutic construct, is designed to engage the body’s full immune repertoire to achieve optimized cancer therapy. This novel cellular immunotherapy platform is expected to redirect patient-derived T cells to eliminate tumors by building in engulfment pathways that employ phagocytic mechanisms to destroy cancer cells, creating what CERo refers to as Chimeric Engulfment Receptor T cells (“CER-T”). CERo believes the differentiated activity of CER-T cells will afford them greater therapeutic application than currently approved chimeric antigen receptor (“CAR-T”) cell therapy, as the use of CER-T may potentially span both hematological malignancies and solid tumors. CERo anticipates initiating clinical trials for its lead product candidate, CER-1236, in 2024 for hematological malignancies.

    Forward-Looking Statements

    This communication contains statements that are forward-looking and as such are not historical facts. This includes, without limitation, statements regarding the financial position, business strategy and the plans and objectives of management for future operations of CERo the timing and completion of the reverse stock split, and the acceptance and implementation of its proposed plan of compliance with Nasdaq continued listing standards. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts. When used in this communication, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “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. When CERo discusses its strategies or plans, it is making projections, forecasts or forward-looking statements. Such statements are based on the beliefs of, as well as assumptions made by and information currently available to, CERo’s management.

    Actual results could differ from those implied by the forward-looking statements in this communication. Certain risks that could cause actual results to differ are set forth in CERo’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K, filed on April 2, 2024, and the documents incorporated by reference therein. The risks described in CERo’s filings with the Securities and Exchange Commission are not exhaustive. New risk factors emerge from time to time, and it is not possible to predict all such risk factors, nor can CERo assess the impact of all such risk factors on its business, or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements, which speak only as of the date hereof. All forward-looking statements made by CERo or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. CERo undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    Contact:

    Chris Ehrlich
    Chief Executive Officer
    chris@cero.bio

    Investors:

    CORE IR
    investors@cero.bio

    The MIL Network –

  • MIL-OSI: Richtech Robotics Announces Grand Opening of Clouffee & Tea in Las Vegas

    Source: GlobeNewswire (MIL-OSI)

    Company’s new ADAM-centric food and beverage brand to officially launch at Town Square location with ribbon-cutting ceremony on February 9, 2025

    LAS VEGAS, Feb. 06, 2025 (GLOBE NEWSWIRE) — Richtech Robotics Inc. (Nasdaq: RR) (“Richtech Robotics” or the “Company”), a Nevada-based provider of AI-driven service robots, announces that the grand opening of Clouffee & Tea at Town Square, Las Vegas will take place on February 9, 2025. Clouffee & Tea is the Company’s food and beverage brand centered around its AI-powered robot ADAM. This is the first store of Richtech Robotics’ Clouffee & Tea brand, with additional stores expected to be open soon.

    With ADAM serving as barista, Clouffee & Tea at Town Square will be offering a wide variety of milk teas, coffees, and desserts. Utilizing NVIDIA AI technology, ADAM will detect when customers are present, engage them in conversation, take orders verbally, monitor and adapt to changes in his environment, and craft beverages with high levels of precision and accuracy.

    “Today’s announcement is a major milestone for Richtech Robotics, marking the official launch of our innovative food and beverage brand, Clouffee & Tea. This grand opening highlights our ability to leverage AI-powered robotics to drive real revenue in the hospitality industry, setting a new standard for automation in customer experiences,” said Richtech Robotics’ President, Matt Casella. “Clouffee & Tea at Town Square will be a vibrant destination, delivering an interactive and dynamic experience that perfectly captures the energy and excitement Las Vegas locals and visitors crave.”

    The grand opening at 6587 S Las Vegas Blvd #B187, Las Vegas, NV 89119 will begin at 11:00 am with a ribbon-cutting ceremony.

    Richtech Robotics has deployed over 300 robot solutions across the U.S. including in restaurants, retail stores, hotels, healthcare facilities, casinos, senior living homes, and factories. Current clients include, Texas Rangers’ Globe Life Field, Golden Corral, Hilton, Sodexo, Boyd Gaming, and more. 

    About Richtech Robotics

    Richtech Robotics is a provider of collaborative robotic solutions specializing in the service industry, including the hospitality and healthcare sectors. Our mission is to transform the service industry through collaborative robotic solutions that enhance the customer experience and empower businesses to achieve more. By seamlessly integrating cutting-edge automation, we aspire to create a landscape of enhanced interactions, efficiency, and innovation, propelling organizations toward unparalleled levels of excellence and satisfaction. Learn more at www.RichtechRobotics.com and connect with us on X (Twitter), LinkedIn, and YouTube.

    Forward Looking Statements

    Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as “anticipate,” “believe,” “forecast,” “estimate,” “expect,” and “intend,” among others. 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 risks and uncertainties. Such forward-looking statements include, but are not limited to, statements regarding the performance of Richtech Robotics’ products.

    These forward-looking statements are based on Richtech Robotics’ current expectations and actual results could differ materially. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements include, among others, risks and uncertainties related to the performance of ADAM and the success of Clouffee & Tea. Investors should read the risk factors set forth in Richtech Robotics’ Annual Report on Form 10-K, filed with the SEC on January 14, 2025, the IPO Registration Statement and periodic reports filed with the SEC on or after the date thereof. All of Richtech Robotics’ forward-looking statements are expressly qualified by all such risk factors and other cautionary statements. The information set forth herein speaks only as of the date thereof. New risks and uncertainties arise over time, and it is not possible for Richtech Robotics to predict those events or how they may affect Richtech Robotics. If a change to the events and circumstances reflected in Richtech Robotics’ forward-looking statements occurs, Richtech Robotics’ business, financial condition and operating results may vary materially from those expressed in Richtech Robotics’ forward-looking statements.

    Readers are cautioned not to put undue reliance on forward-looking statements, and Richtech Robotics assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:

    Investors:
    CORE IR
    Matt Blazei
    ir@richtechrobotics.com

    Media: 
    Timothy Tanksley
    Director of Marketing
    Richtech Robotics, Inc
    press@richtechrobotics.com
    702-534-0050

    Attachments

    The MIL Network –

  • MIL-OSI: Form 8.3 – AXA INVESTMENT MANAGERS: Loungers plc

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: AXA Investment Managers S.A.
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		  
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 Loungers plc
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:  
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 05 February 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 1p ordinary
      Interests Short positions
      Number % Number %
    (1)   Relevant securities owned and/or controlled: 0 0.00    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 0 0.00    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/Sale Number of securities Price per unit
    1p ordinary Sale 715,349 GBP 3.25
    1p ordinary Sale 1,500,000 GBP 3.25
    1p ordinary Sale 245,500 GBP 3.25
    1p ordinary Sale 1,507,975 GBP 3.25

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
             

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
                   

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit
             

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
           

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”
    None

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”
    None

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 06 February 2025
    Contact name: Sabrina AID
    Telephone number*: +33 1 44 45 58 79

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    *If the discloser is a natural person, a telephone number does not need to be included, provided contact information has been provided to the Panel’s Market Surveillance Unit.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI: Agillic A/S publishes preliminary results for 2024 and guidance for 2025

    Source: GlobeNewswire (MIL-OSI)

    Announcement no. 01 2025
    Inside information

    Copenhagen – 5 February 2025 – Agillic A/S

    Preliminary results for 2024
    ARR from subscriptions is expected to be DKK 54.3m in 2024, which is 3% below the guidance of DKK 56-60m.
    ARR from transactions is expected to be DKK 11.2m in 2024, which is in line with the guidance of DKK 10-14m.
    Total ARR is therefore expected to be DKK 65.5m in 2024 compared to the guidance of DKK 66-74m.
    As a result of the development in revenue from subscriptions, total revenue is expected to be DKK 60.2m in 2024, which is 3% below the guidance of DKK 62–66m.
    EBITDA is expected to be DKK 1.0m, which is in line with the guidance of DKK 0-2m.

    2024 was a challenging year that led to a reorganisation, reductions in costs and staff, and a redefinition of company focus. In 2025, a new management team is in place focusing on improved sales in core markets, new product offerings and features, and a robust organization.

    Annual Report release
    Please note that figures referenced above are unaudited. The Annual Report 2024 is scheduled to be released on 25th February 2025 followed by a management presentation

    Guidance for 2025
    In 2025, revenue is expected to amount to DKK 60-63m (2024 prelim: DKK 60.2m) with an EBITDA of DKK 5-8m (2024 prelim: DKK 1.0m). ARR from subscriptions is expected to grow to DKK 56-60m (2024 prelim: DKK 54.3m). 

    Financial guidance 2025

    Revenue DKK 60-63m
    EBITDA DKK 5-8m
    ARR Subscriptions DKK 56-60m

    For further information, please contact:
    Christian Samsø, CEO
    +45 24 88 24 24
    Christian.samsoe@agillic.com

    Claus Boysen, CFO
    +45 28 49 18 46
    claus.boysen@agillic.com

    Certified Adviser
    HC Andersen Capital
    Pernille Friis Andersen

    Disclaimer
    The forward-looking statements regarding Agillic’s future financial situation involve factors of uncertainty and risk. which could cause actual developments to deviate from the expectations indicated. Statements regarding the future are subject to risks and uncertainties that may result in considerable deviations from the presented outlook. Furthermore. some of these expectations are based on assumptions regarding future events. which may prove incorrect. Please also refer to the overview of risk factors in the ‘risk management’ section of the annual report.

    About Agillic A/S
    Agillic A/S (Nasdaq First North Growth Market Denmark: AGILC) is a Danish software company offering brands a platform through which they can work with data-driven insights and content to create, automate, and send personalised communication to millions. Agillic is headquartered in Copenhagen, Denmark. For further information, please visit agillic.com.  
      

    Published on 5 February 2025

    Attachment

    The MIL Network –

  • MIL-OSI United Kingdom: Experimental Parking Zone to be introduced around Everton FC’s new stadium

    Source: City of Liverpool

    Liverpool City Council is to introduce a ‘Football Match Parking Zone’ around Everton FC’s new stadium, at Bramley-Moore Dock.

    A raft of new parking measures are to be implemented surrounding the 52,888 seater stadium, similar to what is already in place around Goodison Park and Anfield.

    More than 4,000 residents and 3,000 businesses are now being invited to apply for the relevant parking permits ahead of the zone going live under an Experimental Traffic Road Order (ETRO) to coincide with the historic first test game at the £500m venue later this month.

    The ETRO will run for up to 18 months and during that period will then be reviewed by the Council’s Transport and Highways team.

    Residents will be able to apply for a permit for each vehicle registered at their address, plus one visitor permit, for which there will be no fee. Businesses will be charged an annual fee of £50 per vehicle, up to a maximum of 10.

    The focus of the proposed parking zone covers the area within a 30-minute walk of Everton Stadium, which is serviced by the city’s historic “Dock Road”, and will encompass the surrounding Ten Streets district, into the city centre and up to Great Homer Street in Everton.

    The new parking zone requirements, which were subject to a public consultation in late 2022, includes:

    • New resident parking areas
    • New taxi ranks
    • New match day bus stands
    • New parking restrictions
    • New hours of operation for existing parking zones for the Great Homer Street area
    • New hours of operation for existing parking zones for the Ten Streets and Love Lane areas
    • New industrial parking zone south of Boundary Street
    • New industrial parking zone north of Boundary Street

    The overall aim of the new Parking Zone is to reduce congestion, improve air quality and safety to and from the stadium. The proposals have also been designed to complement the planned modernisation of parking across the city centre.

    The Council’s Transport and Highways team has already begun the process of installing new signage ahead of Everton’s first “test match” at the waterfront stadium, situated within Liverpool Waters, which will be held on Monday, 17 February.

    (For more information, Frequently Asked Questions, Have Your Say on the zone
    and to see detailed maps on the various areas with the zone – please go here.)

    Scheduled to open for the 2025/26 season, Everton’s new home has already been picked as a venue for the UEFA European Championships in 2028 and will also be capable of hosting major non-footballing events.

    Liverpool City Council has invested more than £20m in the highways infrastructure around Bramley-Moore Dock, including a permanent segregated cycle lane running from the city centre up to Liverpool’s northern border at Bootle in Sefton, which passes right in front of the new stadium.

    The Council is also working with Sefton Council and the Liverpool City Region Combined Authority on a new town bid which which would see for than 10,000 new homes, with community infrastructure, from the city centre, around the new stadium, and north into Bootle and Walton.

    • The Liverpool City Region Combined Authority is also working with Merseyrail, Network Rail and Everton FC on the development of a new crowd management zone and an additional entrance at Sandhills station. The aim is to primarily support fans and event goers accessing public transport on their way to and from the new stadium.

    Councillor Dan Barrington, Liverpool City Council’s Cabinet Member for Transport and Connectivity, said: “Everton Stadium is going to be transformational especially for the surrounding Ten Streets district and the wider Kirkdale community.

    “As well as the economic benefit, the vast volume of people the stadium will attract – and how they arrive and depart – needs to be carefully managed.

    “The North Docks area has never had to cope with such large numbers of people in such concentrated time periods, but fortunately the city has the experience and knowledge thanks to Goodison Park and Anfield. By creating this new match day parking zone, we’ll be looking to adopt and incorporate those controls which so effectively move tens of thousands on a weekly basis.

    “Bramley-Moore Dock is also a unique location given its very close proximity to the city centre and the fact the surrounding transport infrastructure is well developed. There’s more to be done but all the partners are talking to make those improvements.

    “We’ll also be looking to encourage as many active travel options as possible for those attending the games or other events there, which is a win-win for everyone in terms of managing congestion and air quality and promoting healthy habits.

    “There’s lots of residents and businesses, as well as Everton fans, who will be affected by this new zone and thanks to their feedback we’ve been able to formulate a plan which accommodates their needs.”

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Construction boss jailed after fraudulently obtaining two maximum-value Covid loans

    Source: United Kingdom – Executive Government & Departments

    Director jailed for Bounce Back Loan fraud and transferring criminal property

    • Arti Deda overstated the turnover of his Knight Workers Limited company to secure two Bounce Back Loans when companies were only entitled to one 
    • Money from the loans was transferred to associates and third parties, not to benefit his business 
    • Deda was jailed for two-and-a-half years and banned as a company director for 10 years 

    A Berkshire-based director who fraudulently obtained two Covid loans for his construction firm has been jailed. 

    Arti Deda, 31, overstated the turnover of his Knight Workers Limited company to obtain maximum-value Bounce Back Loans worth £50,000 each from the bank in 2020, when companies were only entitled to one. 

    None of the £100,000 was used for the economic benefit of the business as was required under the terms of the scheme. 

    Deda, of Littleport Spur, Slough, was sentenced to two-and-a-half years in prison at Reading Crown Court on Wednesday 5 February. 

    He was also disqualified as a company director for 10 years. 

    David Snasdell, Chief Investigator at the Insolvency Service, said: 

    This significant jail term and director disqualification reflects the seriousness of Covid-related fraud.  

    Bounce Back Loans were designed to support small and medium-sized businesses through the pandemic. Taxpayers’ money should not have been used for personal purposes by company directors. 

    The Insolvency Service is committed to investigating these crimes, which have a substantial impact on the public purse, and prosecuting those responsible.

    Knight Workers was incorporated in December 2017 with Deda as its sole director. 

    The company claimed to be in the business of construction of domestic buildings. 

    However, Insolvency Service investigators found minimal evidence of any trading in the construction industry. 

    Deda made the fraudulent applications to two separate banks for Bounce Back Loans for the company during the same week in July 2020, falsely declaring its annual turnover was both £390,000 and £495,000 for 2019. 

    He also claimed in securing the second Bounce Back Loan that this was his only application. 

    A total of £44,500 was transferred to an associate just days after Deda received the funds. A further £13,000 was later transferred to a third party and £20,000 was transferred from the account with the reference ‘material’. 

    Deda applied to have Knight Workers liquidated in November 2021 in an attempt to avoid having to repay the loan.  

    The company was eventually dissolved in April 2023, with Deda having made no repayments. 

    Deda also failed in his duties as a company director to provide accounting records to the liquidator on request. 

    The Insolvency Service is seeking to recover the fraudulently obtained funds under the Proceeds of Crime Act 2002. 

    Further information 

    Updates to this page

    Published 6 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI USA: UConn Firsts: The First Online Classes

    Source: US State of Connecticut

    Although UConn had technically been online for several years – uconn.edu was registered all the way back in 1987 – September 1994 saw the beginning of what has become a daily part of the college experience for students in the 21st century: online classes. At the time, though, the idea of doing coursework on “the World Wide Web” was pretty bold – and not everyone was eager to take part. “I feel very strongly that courses in the humanities don’t belong on the Internet,” one first-year student said then. Misgivings aside, within a year of the first trial, the number of online classes had jumped from 3 to 55, although at the time, “online” was a relative term: the classes were all held in computer labs, since most students in those days didn’t have personal computers. Today, nearly every class includes online components, and plenty take place entirely in cyberspace, along with more than 50 degree and certificate programs offered online.

    MIL OSI USA News –

  • MIL-OSI: GetUSAMemes.org Achieves an Unprecedented Milestone by $USA’s 90% Supply Burn, Sparking a New Era of Transparency

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 06, 2025 (GLOBE NEWSWIRE) — In the latest news, Get USA Memes is making history with an unprecedented $USA’s 90% supply burn—one that sets a new standard for transparency, investor trust, and long-term sustainability in the crypto space. This move, backed by renowned legal expert Nahla Kamaluddin, Esq., is a deliberate effort to strengthen the $USA ecosystem and ensure accuracy in market valuations.

    Currently, DexScreener and other platforms display an artificially inflated market cap due to a lack of recognition for liquidity locks. While $USA had already committed to locking 80% of its supply for four years, this move was not fully reflected on certain tracking platforms.

    To address this issue, $USA is now permanently burning 90% of its total supply, ensuring that:

    • DexScreener and other platforms will accurately display the true market cap.
    • The remaining tokens will increase in scarcity, enhancing long-term value.
    • Investors will see a transparent and reliable valuation moving forward.

    In addition, Nahla Kamaluddin, Esq., Co-Founder of $USA and a leading authority in crypto and blockchain law has been instrumental in shaping this initiative. As the Founding Attorney of Kamaluddin Law Firm, she brings extensive legal expertise and a proven track record in high-value financial settlements and regulatory compliance. With her guidance, $USA is implementing one of the most significant supply adjustments in recent blockchain history—while maintaining full regulatory integrity.

    By addressing market cap adjustments, this burn will correct the displayed market cap, which currently appears inflated. As an example:

    Before the burn:

    • 20 million tokens circulating
    • $1 million true market cap
    • Price per token: $0.05

    After the burn:

    • 10 million tokens circulating
    • Still a $1 million market cap
    • Price per token: $0.10

    This move is about numbers as well as it’s about ensuring that $USA remains one of the most transparent, strategically positioned tokens in the space. The involvement of Nahla Kamaluddin, Esq., in this initiative underscores $USA’s commitment to legal integrity and best practices in crypto. Furthermore, as the $USA ecosystem evolves, this burn solidifies its foundation for long-term growth, investor confidence, and mainstream adoption.

    Media Contact:
    Websites URL : https://getusamemes.org
    Person Name: Jon Menjivar
    Physical address: 150 Motor Pkwy
    Hauppauge, NY 11788
    Support@getusamemes.org

    Disclaimer: This press release is provided by Get USA Memes. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered as financial, investment, or trading advice. Investing in cloud mining and related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.

    The MIL Network –

  • MIL-OSI: Mixed Martial Arts (MMA) Market is Substantially Growing, Morphing into a Billion Dollar Opportunity

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., Feb. 06, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – The mixed martial arts (MMA) equipment market has been substantially growing over the past several years and is projected to continue in the coming years. The increasing public participation, easy availability of advanced training facilities, and the integration of advanced technologies represent some of the key factors driving the market. A report from IMARC Group projected that the global mixed martial arts equipment market size reached USD 1.39 Billion in 2024 and is looking forward to reach USD 2.13 Billion by 2033, exhibiting a growth rate (CAGR) of 4.64% during 2025-2033. The report said: “Mixed martial arts (MMA) refer to a hybrid combat sport that employs various fighting skills and techniques. It is performed using various equipment to facilitate the training or fight, such as a mouth and groin guard, punching bag, gloves, shorts, shin guards, hand wraps, ankle, elbow, and knee pads, and headgear. Amongst these, hand wraps help protect hands during training and fighting competitively, while the headgear is used for sparring to shield the skull from harsh strikes. At present, leading players operating worldwide are launching MMA equipment in various materials, types, and designs. These players are offering customizations to meet the requirements of the consumers and expanding their product portfolio.” Active Companies in the markets today include Mixed Martial Arts Group Limited (NYSE: MMA), Sphere Entertainment Co. (NYSE: SPHR), Meta Platforms, Inc. (NASDAQ: META), Live Nation Entertainment, Inc. (NYSE: LYV), Peloton Interactive, Inc. (NASDAQ: PTON).

    IMARC Group continued: “Presently, the increasing participation of individuals in recreational sports and fitness and athletic activities represents one of the major factors driving the demand for MMA equipment around the world. Moreover, the rising awareness about the health benefits associated with MMA, such as improving heart health, reducing stress, and enhancing the overall strength, and the surging prevalence of chronic diseases on account of sedentary lifestyles, are favoring the market growth. In addition, the growing number of professional training camps and the easy availability of advanced training facilities for fighters are influencing the market positively. Apart from this, the increasing number of fitness centers that offer MMA training is also contributing to the market growth. Furthermore, key players are financing advertising campaigns, such as celebrity and social media influencer endorsements, for improving their profitability. Besides this, the expansion of the e-commerce sector is resulting in the increasing sales of MMA equipment on account of easy equipment availability, flexible payment options, secure transactions, and convenient return policies.”

    Mixed Martial Arts Group Limited (NYSE American:MMA) – MMA.inc on Track to Achieve US$0.75 Million in Warrior Training Program Gross Sales for the March 25 Quarter, Driven by Record-Breaking 200% YoY Growth – Key Highlights:

    • Explosive Growth: Sales have surged 200% year-over-year and are on track to achieve $0.75 Million in Warrior Training Program Gross Sales which is above total gross sales for FY24.
    • Record-Breaking Quarter: With over 750 confirmed sales in Q1 alone, MMA.inc is on the cusp of exceeding its quarterly target of 800 participants, with 7 weeks remaining in the quarter to achieve the target.
    • Revenue Per Participant: Consistent with prior fiscal year averages, each participant has historically generated an average of US$1,004 in gross revenue, reinforcing the program’s strong unit economics.
    • Strategic Expansion: In 2025 the Warrior Training Program is live across 30 gyms spanning the US, Europe, Australia and New Zealand, with new gym partnerships fueling expansion.
    • Additional Revenue Streams: SaaS subscriptions and monthly transaction revenue from the recently acquired Hype and BJJLink platforms are not included in the above Warrior Training Program sales numbers, delivering further upside to MMA.inc revenue over the year.
    • Growing Ecosystem: MMA.inc continues to scale its platform with 5 million social media followers, 530,000 user profiles, 50,000 active students, and 802 active gym partners across 16 countries.

    Mixed Martial Arts Group Limited (“MMA.inc” or the “Company”), a leading technology company at the forefront of combat sports participation, today announced 200% year-over-year growth in Warrior Training Program sales, with over 750 participants confirmed in Q1 alone. This sales surge underscores MMA.inc’s ability to convert global MMA fandom into active participation while delivering substantial revenue growth for partner gyms.

    This milestone marks the most successful quarter in the program’s history, reflecting both the rising global demand for MMA training experiences and the strength of MMA.inc’s platform driven approach. By providing participants with a 20 week training subscription, designed by the world’s best MMA coaches, and culminating in a fully sanctioned amateur MMA bout, MMA.inc continues to redefine the combat sports landscape for participants, gym owners and coaches.

    “Our ability to achieve 200% growth year over year speaks volumes about the strength of our platform and the demand for authentic MMA training experiences,” said Nick Langton, Founder and CEO of MMA.inc. “With over 750 confirmed participants in Q1 alone, we’re not just selling training programs, we’re building an ecosystem that empowers over 640 million MMA fans to step into a gym to learn and train martial arts.”

    “The success of the UFC and other professional combat sports leagues has driven fanbase growth, which has in turn led to unprecedented interest in learning martial arts. At MMA.Inc we are building a platform to make the participation “on ramp” easily accessible for all MMA fans and fitness consumers who want to find a great gym where they can start their training journey.” Continued… Read the MMA full press release and supporting notes by going to:   https://ir.mma.inc/news-events/press-releases

    Other recent developments in the markets include:

    Meta Platforms, Inc. (NASDAQ: META) has recently appointed three new members to its board of directors, including Dana White, the president and CEO of Ultimate Fighting Championship (UFC) and a familiar figure in the orbit of the incoming president, Donald Trump.

    The social media company, which owns Facebook, Instagram and WhatsApp, is also adding the auto tycoon John Elkann and the tech investor Charlie Songhurst, Meta’s CEO, Mark Zuckerberg, said in a Facebook post.

    Live Nation Entertainment, Inc. (NYSE: LYV) – Hard Rock® recently announced that it was named #1 and #5 in the Newsweek Top 10 Readers’ Choice Best Casinos with Live Entertainment in the U.S. Newsweek describes this award as “…some of the best live entertainment options at casinos from around the country for when you need a break from the gambling floor.”

    “We are humbled that the public voted for Hard Rock Live Sacramento to take the #1 spot in this year’s Top 10,” explained Randy Maddocks, Director of Entertainment for Hard Rock Live Sacramento. “We dedicate our programming to reaching the largest audience with diverse shows that represent all genres.”

    Sphere Entertainment Co. (NYSE: SPHR) recently announced that Glenn Derry, an Academy Award winning technologist with over 30 years of industry-defining entertainment technology experience, has joined the Company as Executive Vice President of MSG Ventures.

    In this role, Mr. Derry will oversee a wide range of technology initiatives across MSG Ventures, a wholly-owned subsidiary of Sphere Entertainment focused on developing advanced technologies for live entertainment. MSG Ventures also supports Sphere Studios, the immersive content studio dedicated to creating multi-sensory entertainment experiences exclusively for Sphere, and the Sphere platform overall, including future Sphere venues. Mr. Derry will work across the organization to deploy both new and existing technologies that enhance Sphere’s live entertainment and experiential content, which has been redefining immersive experiences since the first Sphere opened in Las Vegas in September 2023.

    Peloton Interactive, Inc. (NASDAQ: PTON) recently announced that it will release its second quarter 2025 financial results before the U.S. stock market opens on Thursday, February 6, 2025. The company will host a conference call and live audio webcast to discuss the financial results at 8:30 a.m. (Eastern Time) that day.   To access the conference call by phone, please visit this phone registration link to receive dial-in details. To avoid delays, we encourage participants to register a day in advance or at least 15 minutes before the start of the call.

    A live audio webcast of the conference call will also be available on the company’s investor relations website at https://investor.onepeloton.com/news-and-events/events.   For those unable to participate in the conference call live, a replay will be available on the investor relations page of the company’s website for 30 days.

    About FN Media Group:

    At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases

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    DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated twenty five hundred dollars for news coverage of the current press releases issued by Mixed Martial Arts Group Limited by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

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    Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757

    SOURCE: FN Media Group

    The MIL Network –

  • MIL-OSI: Veea Announces Upcoming Industry Conference Schedule

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 06, 2025 (GLOBE NEWSWIRE) — Veea Inc. (NASDAQ: VEEA), a pioneer in edge computing and AI-driven solutions, today announced the Company’s upcoming conference presentation schedule. The Company will be offering attendees the opportunity to learn more about the Veea Edge Platform™ and its broad range of applications across end markets.

    OATSCON25
    February 6-7, 2025

    An annual gathering of experts to address some of the most promising avenues for sustainable food-ag system improvements, from novel applications of sensing, networking, and computation to big data science, visualization, and analytics. Veea has deployed its hyperconverged Edge Platform in use cases that promote precision agriculture.

    Presenter: Tom Williams, Veea’s Vice President Worldwide Sales & Marketing
    Topic: Connectivity in Rural Spaces
    Title: “Connecting Rural Communities”
    Day: Thursday, February 6, 2025
    Time: 2:00 pm
    Location: Purdue University, West Lafayette, IN

    AHR Expo
    February 10-12, 2025
    Orlando, Florida

    The International Air-Conditioning, Heating, Refrigerating Exposition (AHR Expo), which started in 1930 as a heating and ventilation show, has grown into the largest event in the world exclusively focused on the HVACR industry. The 2025 Show will host industry professionals from all across the United States and worldwide. Attendees can learn about Veea’s Edge Platform – a highly flexible, cloud-connected platform that ensures seamless integration with third-party hardware and software to enable building owners and operators to easily add new data sets to their platforms allowing for improved control and monitoring while supporting their digital transformation journey. 

    MWC Barcelona 2025
    March 3-6, 2025
    Barcelona, Spain
    Hall 6

    Mobile World Congress (MWC) Barcelona, the world’s largest and most influential connectivity event, is attended by global mobile operators, device manufacturers, technology providers, vendors and content owners. Attendees are encouraged to learn more about how the Veea Edge Platform and Veea’s Trusted Broadband Access (vTBA) can provide a path towards 5G/Wi-Fi Fixed Mobile Convergence.

    About Veea

    Veea Inc. (NASDAQ: VEEA) was formed in 2014 and is headquartered in New York City with a rich history of major innovations in the development of advanced networking, wireless and computing technologies. Veea makes living and working at the edge simpler and more secure. Veea has unified multi-tenant computing, multiaccess multiprotocol communications, edge storage and cybersecurity solutions through fully integrated cloud- and edge-managed products. Veea’s fully integrated turnkey solution offers end-to-end cloud management of devices, applications and services with Zero Trust Network Access (ZTNA), optionally with a highly simplified plug and play 5G-based Secure Access Service Edge (SASE) offering. Veea Edge Platform™ enables direct connections from the wide area optical fiber, cellular and satellite networks to devices on the local area networks created by a VeeaHub® mesh cluster over network-managed Wi-Fi and IoT devices – a unique patented capability called Multiprotocol Private Network Slicing (MPNS) for ISPs to offer subscription-based services for one or a group of endpoints. Veea Developer Portal and development tools provide for rapid development of edge applications including federated learning with pre-trained models for inferencing to cost-effectively enable Edge AI for most enterprise use cases.

    Veea was recognized in 2023 by Gartner as a Leading Smart Edge Platform for the innovativeness and capabilities of our Veea Edge Platform™ and a Cool Vendor in Edge Computing in 2021. Veea was named in Market Reports World’s in its research report published in October 2023 as one of the top 10 Edge AI solution providers alongside IBM, Microsoft, Amazon Web Services among others. For more information about Veea and its product offerings, visit veea.com and follow us on LinkedIn.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”) as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended, that are intended to be covered by the safe harbor created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “will,” “should,” “would,” “could,” “seek,” “intend,” “plan,” “goal,” “project,” “estimate,” “anticipate,” “strategy,” “future,” “likely” or other comparable terms, although not all forward-looking statements contain these identifying words. All statements other than statements of historical facts included in this press release regarding the Company’s strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Important factors that could cause the Company’s actual results and financial condition to differ materially from those indicated in the forward-looking statements. Such forward-looking statements include, but are not limited to, risks and uncertainties including those regarding: the Company’s business strategies, and the risk and uncertainties described in “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “Cautionary Note on Forward-Looking Statements” and the additional risk described in Veea’s Form 10-Q for the fiscal quarter ended September 30, 2024 and any subsequent filings which Veea makes with the U.S. Securities and Exchange Commission. You should not rely upon forward-looking statements as predictions of future events. The forward-looking statements made in the press release relate only to events or information as of the date on which the statements are made in the press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events except as required by law. You should read this press release with the understanding that our actual future results may be materially different from what we expect.

    The Equity Group
    Devin Sullivan
    Managing Director
    dsullivan@equityny.com

    Conor Rodriguez
    Associate
    crodriguez@equityny.com

    The MIL Network –

  • MIL-OSI: IDT global Inks Preferred Partner Agreement with Haiti’s Natcom for International Long-Distance Traffic Management

    Source: GlobeNewswire (MIL-OSI)

    Newark, NJ, Feb. 06, 2025 (GLOBE NEWSWIRE) — IDT global, IDT Corporation’s (NYSE: IDT) wholesale carrier services business, today announced that it has entered into a Preferred Partner Agreement with Natcom, Haiti’s leading telecommunications provider, to manage international long-distance traffic for Natcom’s network in Haiti. IDT global will also help to protect Natcom against revenue leakage while strengthening Natcom’s position as a trusted and reliable telecommunications provider for international voice traffic.

    The agreement also enables Natcom and IDT global to collaboratively develop and launch new, high-value, international voice offerings for customers of Natcom and for IDT’s popular BOSS Revolution Calling service in the US.

    “Our partnership with Natcom reinforces IDT global’s position as a leader in managed voice services,” said Alexis Segal, Sr. Vice President at IDT global. “We look forward to supporting Natcom with secure and innovative telecommunications solutions tailored to meet the international long-distance needs of Natcom customers throughout Haiti. Boss Revolution customers can also look forward to elevated offerings that will make staying connected with loved ones and business associates in Haiti more accessible than ever.”

    Mr. Nguyen Huy Dzung, CEO of Natcom added: “IDT global’s reliability, expertise, and focus on quality made them the natural choice for this strategic partnership. Together, we aim to provide the best possible experience for our customers while strengthening the integrity of telecommunications in Haiti.”

    About Natcom

    Natcom is Haiti’s leading telecommunications provider, offering a full range of mobile, broadband, and fixed-line services to individuals and businesses across the country. With a focus on innovation and connectivity, Natcom is dedicated to enhancing the communication experience for the people of Haiti.

    About IDT global

    IDT global leverages its global IP network and platform to deliver high-quality, secure, and scalable voice and A2P SMS solutions. We enable carriers, mobile operators, and enterprises to build agile, efficient, and resilient communication experiences worldwide.

    About IDT Corporation

    IDT Corporation (NYSE: IDT) is a global provider of fintech and communications solutions through a portfolio of synergistic businesses: National Retail Solutions (NRS), through its point-of-sale (POS) platform, enables independent retailers to operate more effectively while providing advertisers and marketers with unprecedented reach into underserved consumer markets; BOSS Money facilitates innovative international remittances and fintech payments solutions; net2phone provides enterprises and organizations with intelligently integrated cloud communications and contact center services across channels and devices; IDT Digital Payments and the BOSS Revolution calling service make sharing prepaid products and services and speaking with friends and family around the world convenient and reliable; and, IDT global and IDT Express enable communications services to provision and manage international voice and SMS messaging.

    All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.

    CONTACT

    IDT Corporation Investor Relations
    Bill Ulrey
    william.ulrey@idt.net

    # # #

    The MIL Network –

  • MIL-OSI: Byrna Expands Retail Footprint with Nashville Store Opening

    Source: GlobeNewswire (MIL-OSI)

    ANDOVER, Mass., Feb. 06, 2025 (GLOBE NEWSWIRE) — Byrna Technologies Inc. (“Byrna” or the “Company”) (Nasdaq: BYRN), a personal defense technology company specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions, today announced the opening of its second company-owned retail store, located in Franklin, Tennessee, part of the Greater Nashville Area. This new location advances Byrna’s vision of normalizing less-lethal solutions as a mainstream personal safety choice, establishing a broader physical presence, and amplifying brand recognition in key markets.

    The Nashville store builds on the success of Byrna’s Las Vegas location, which validated the potential of company-owned retail with an annual run rate exceeding $1 million and gross profit margins over 60%. The Nashville store features an in-store shooting range where customers can experience Byrna’s less-lethal launchers firsthand. In the Las Vegas store, conversion rates are approximately 80%, compared to approximately 1% online. Byrna expects the hands-on and interactive experience of its new stores to deliver similarly high conversion rates, foster deeper customer trust, and reinforce the company’s reputation as a leader in the less-lethal market.

    “The Nashville store represents an important step in Byrna’s strategic retail expansion,” said Byrna CEO Bryan Ganz. “Our retail store rollout is designed to strengthen customer connections, provide unique hands-on experiences, and expand overall brand awareness. Positioned in a vibrant retail hub, the Nashville store is well-suited to drive strong demand and further the adoption of Byrna’s less-lethal solutions. While we recognize new stores take time to reach their optimal performance, we are confident in the potential of our brick-and-mortar strategy and look forward to tracking the impact of our future locations.”

    Byrna’s retail strategy reflects a deliberate, phased approach to scaling its store model. The Nashville store is one of four new locations planned in the first part of 2025, with additional stores in Fort Wayne, Indiana, Scottsdale, Arizona, and Salem, New Hampshire set to open in coming weeks. These initial locations will provide valuable insights to refine store operations, finalize employee training programs, and optimize marketing strategies ahead of a potential broader rollout.

    Luan Pham, Byrna Chief Revenue Marketing Officer, added: “Our retail expansion is a transformational step in making less-lethal solutions accessible and mainstream. These new stores enable us to build stronger, more personal connections with our customers through workshops and in-store events, ensuring they are confident in using our products when it matters most.”

    The grand opening of the Nashville store featured local officials, law enforcement representatives, and media. Byrna will continue prioritizing community engagement and education as it expands its physical footprint across the United States.

    Byrna Nashville
    330 Mayfield Dr.
    D-3
    Franklin, TN 37067

    About Byrna Technologies Inc.
    Byrna is a technology company specializing in the development, manufacture, and sale of innovative less-lethal personal security solutions. For more information on the Company, please visit the corporate website here or the Company’s investor relations site here. The Company is the manufacturer of the Byrna® SD personal security device, a state-of-the-art handheld CO2 powered launcher designed to provide a less-lethal alternative to a firearm for the consumer, private security, and law enforcement markets. To purchase Byrna products, visit the Company’s e-commerce store.

    Forward-Looking Statements
    This news release contains “forward-looking statements” within the meaning of the securities laws. All statements contained in this news release, other than statements of current and historical fact, are forward-looking. Often, but not always, forward-looking statements can be identified by the use of words such as “plans,” “expects,” “intends,” “anticipates,” and “believes” and statements that certain actions, events or results “may,” “could,” “would,” “should,” “might,” “occur,” “be achieved,” or “will be taken.” Forward-looking statements include descriptions of currently occurring matters which may continue in the future. Forward-looking statements in this news release include, but are not limited to, our statements related to preliminary revenue results for the fourth fiscal quarter and fiscal year 2024, the timing of the release of full financial results for the quarter, trends regarding brand recognition and future sales potential, sales during the holiday season and during 2025, and the Company’s plans to open Company-owned retail stores. Forward-looking statements are not, and cannot be, a guarantee of future results or events. Forward-looking statements are based on, among other things, opinions, assumptions, estimates, and analyses that, while considered reasonable by the Company at the date the forward-looking information is provided, inherently are subject to significant risks, uncertainties, contingencies, and other factors that may cause actual results and events to be materially different from those expressed or implied.

    Any number of risk factors could affect our actual results and cause them to differ materially from those expressed or implied by the forward-looking statements in this news release, including, but not limited to, disappointing market responses to current or future products or services; prolonged, new, or exacerbated disruption of the Company’s supply chain; the further or prolonged disruption of new product development; production or distribution or delays in entry or penetration of sales channels due to inventory constraints, competitive factors, increased shipping costs or freight interruptions; prototype, parts and material shortages, particularly of parts sourced from limited or sole source providers; determinations by third party controlled distribution channels not to carry or reduce inventory of the Company’s products; determinations by advertisers to prohibit marketing of some or all Byrna products; the loss of marketing partners; potential cancellations of existing or future orders including as a result of any fulfillment delays, introduction of competing products, negative publicity, or other factors; product design defects or recalls; litigation, enforcement proceedings or other regulatory or legal developments; changes in consumer or political sentiment affecting product demand; regulatory factors including the impact of commerce and trade laws and regulations; import-export related matters or sanctions or embargos that could affect the Company’s supply chain or markets; delays in planned operations related to licensing, registration or permit requirements; and future restrictions on the Company’s cash resources, increased costs and other events that could potentially reduce demand for the Company’s products or result in order cancellations. The order in which these factors appear should not be construed to indicate their relative importance or priority. We caution that these factors may not be exhaustive; accordingly, any forward-looking statements contained herein should not be relied upon as a prediction of actual results. Investors should carefully consider these and other relevant factors, including those risk factors in Part I, Item 1A, (“Risk Factors”) in the Company’s most recent Form 10-K, should understand it is impossible to predict or identify all such factors or risks, should not consider the foregoing list, or the risks identified in the Company’s SEC filings, to be a complete discussion of all potential risks or uncertainties, and should not place undue reliance on forward-looking information. The Company assumes no obligation to update or revise any forward-looking information, except as required by applicable law.

    Investor Contact:
    Tom Colton and Alec Wilson
    Gateway Group, Inc.
    949-574-3860
    BYRN@gateway-grp.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5feb5941-b01f-4175-941b-5c3ad99702ee

    The MIL Network –

  • MIL-OSI: Live Ventures Reports Fiscal First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, Feb. 06, 2025 (GLOBE NEWSWIRE) — Live Ventures Incorporated (Nasdaq: LIVE) (“Live Ventures” or the “Company”), a diversified holding company, today announced financial results for its fiscal first quarter 2025 ended December 31, 2024. 

    Fiscal First Quarter 2025 Key Highlights:

    • Revenue was $111.5 million, compared to $117.6 million in the prior year period
    • Net income was $0.5 million and diluted earnings per share (“EPS”) was $0.16, compared to the prior year period net loss of $0.7 million and loss per share of $0.22. Net income for the first quarter 2025 includes a $2.8 million gain on the settlement of the earnout liability related to the Precision Metal Works, Inc. (“PMW”) acquisition and a $0.7 million gain on the settlement of PMW seller notes
    • Adjusted EBITDA¹ was $5.7 million, compared to $8.7 million in the prior year period
    • Total assets of $395.5 million and stockholders’ equity of $73.3 million as of December 31, 2024
    • Approximately $31.1 million of cash and availability under the Company’s credit facilities as of December 31, 2024

    “Both our Retail-Entertainment and Steel Manufacturing segments delivered improved operating performance in the first quarter, with increases in operating income and operating margins as compared to the prior year period. However, high interest rates and a slowdown in the housing market continued to impact our Retail-Flooring and Flooring Manufacturing segments, as reduced consumer demand weighed on performance,” commented David Verret, Chief Financial Officer of Live Ventures.

    “We are pleased with the operating improvements achieved in our Retail-Entertainment and Steel Manufacturing segments during the first quarter. That said, industry-specific headwinds are impacting our Retail-Flooring and Flooring Manufacturing segments. To address this, we are implementing additional measures to enhance the efficiency of our flooring businesses,” stated Jon Isaac, President and Chief Executive Officer of Live Ventures. “Despite these challenges, we remain confident in the long-term strength of our businesses.”

    First Quarter FY 2025 Financial Summary (in thousands except per share amounts)
      For the three months ended December 31,
        2024     2023     % Change
    Revenue $ 111,508   $ 117,593     -5.2 %
    Operating income $ 762   $ 3,541     -78.5 %
    Net income (loss) $ 492   $ (682 )   172.1 %
    Diluted earnings (loss) per share $ 0.16   $ (0.22 )   172.7 %
    Adjusted EBITDA¹ $ 5,744   $ 8,696     -33.9 %
                       

    Revenue decreased approximately $6.1 million, or 5.2%, to approximately $111.5 million for the quarter ended December 31, 2024, compared to revenue of approximately $117.6 million in the prior year period. The decrease is attributable to the Flooring Manufacturing, Retail-Flooring, and Steel Manufacturing segments, which decreased by approximately $6.7 million in the aggregate.

    Operating income was approximately $0.8 million for the quarter ended December 31, 2024, compared with operating income of approximately $3.5 million in the prior year period. The decrease in operating income is primarily attributable to the decrease in revenue and increased general and administrative expenses in the Retail-Flooring segment. The decrease in operating income was partially offset by increased operating income in the Retail-Entertainment and Steel Manufacturing segments.

    For the quarter ended December 31, 2024, net income was approximately $0.5 million, and diluted EPS was $0.16, compared with net loss of approximately $0.7 million and loss per share of $0.22 in the prior year period. The increase in net income is primarily attributable to a $2.8 million gain on the settlement of the earnout liability related to the PMW acquisition and a $0.7 million gain on the settlement of PMW seller notes.

    Adjusted EBITDA¹ for the quarter ended December 31, 2024 was approximately $5.7 million, a decrease of approximately $3.0 million, or 33.9%, compared to the prior year period. The decrease in adjusted EBITDA is primarily due to an overall decrease in operating income.

    As of December 31, 2024, the Company had total cash availability of $31.1 million, consisting of cash on hand of $7.4 million and availability under its various lines of credit of $23.7 million.

    First Quarter FY 2025 Segment Results (in thousands)

      For the three months ended December 31,
        2024       2023     % Change
    Revenue          
    Retail – Entertainment $ 21,273     $ 20,586     3.3 %
    Retail – Flooring   31,747       34,319     -7.5 %
    Flooring Manufacturing   25,996       29,245     -11.1 %
    Steel Manufacturing   32,435       33,354     -2.8 %
    Corporate & Other   57       89     -36.0 %
    Total Revenue $ 111,508     $ 117,593     -5.2 %
               
      For the three months ended December 31,
        2024       2023     % Change
    Operating Income (loss)          
    Retail – Entertainment $ 3,408     $ 3,143     8.4 %
    Retail – Flooring   (2,174 )     90     N/A
    Flooring Manufacturing   (81 )     945     -108.6 %
    Steel Manufacturing   1,166       982     18.7 %
    Corporate & Other   (1,557 )     (1,619 )   3.8 %
    Total Operating Income $ 762     $ 3,541     -78.5 %
               
      For the three months ended December 31,
        2024       2023     % Change
    Adjusted EBITDA¹          
    Retail – Entertainment $ 3,810     $ 3,667     3.9 %
    Retail – Flooring   (971 )   $ 1,303     -174.5 %
    Flooring Manufacturing   750       1,877     -60.0 %
    Steel Manufacturing   2,801       2,802     0.0 %
    Corporate & Other   (646 )     (953 )   32.2 %
    Total Adjusted EBITDA¹ $ 5,744     $ 8,696     -33.9 %
               
    Adjusted EBITDA¹ as a percentage of revenue        
    Retail – Entertainment   17.9 %     17.8 %    
    Retail – Flooring   -3.1 %     3.8 %    
    Flooring Manufacturing   2.9 %     6.4 %    
    Steel Manufacturing   8.6 %     8.4 %    
    Corporate & Other N/A   N/A    
    Total Adjusted EBITDA¹   5.2 %     7.4 %    
    as a percentage of revenue          
               

    Retail – Entertainment

    Retail-Entertainment segment revenue for the quarter ended December 31, 2024 was approximately $21.3 million, an increase of approximately $0.7 million, or 3.3%, compared to prior year period revenue of approximately $20.6 million. Revenue increased primarily due to increased consumer demand for used products. The increase in used products contributed to the increase in gross margin to 56.6% for the quarter ended December 31, 2024, compared to 56.0% for the prior year period. Operating income for the quarter ended December 31, 2024 was approximately $3.4 million, compared to operating income of approximately $3.1 million for the prior year period.

    Retail – Flooring

    The Retail-Flooring segment revenue for the quarter ended December 31, 2024, was approximately $31.7 million, a decrease of approximately $2.6 million, or 7.5%, compared to the prior year period revenue of approximately $34.3 million. The decrease was primarily due to reduced demand. Gross margin for the quarter ended December 31, 2024 was 37.2%, compared to 38.0% for the prior year period. The decrease in gross margin was primarily driven by a change in product mix. Operating loss for the quarter ended December 31, 2024 was approximately $2.2 million, compared to operating income of approximately $0.1 million for the prior year period. The increase in operating loss was primarily due to additional wages and other general and administrative costs during the quarter ended December 31, 2024.

    Flooring Manufacturing

    Revenue for the quarter ended December 31, 2024 was approximately $26.0 million, a decrease of approximately $3.2 million, or 11.1%, compared to prior year period revenue of approximately $29.2 million. The decrease in revenue was primarily due to reduced consumer demand. Gross margin was 21.2% for the quarter ended December 31, 2024, compared to 22.0% for the prior year period. The decrease in gross margin was primarily due to changes in product mix. Operating loss for the quarter ended December 31, 2024 was approximately $0.1 million, compared to operating income of approximately $0.9 million for the prior year period.

    Steel Manufacturing

    Revenue for the quarter ended December 31, 2024 was approximately $32.4 million, a decrease of approximately $0.9 million or 2.8%, compared to prior year period revenue of approximately $33.4 million. The decrease was primarily due to reduced customer demand, partially offset by incremental revenue of $3.1 million at Central Steel Fabricators, LLC (“Central Steel”), which was acquired in May 2024. Gross margin was 18.3% for the quarter ended December 31, 2024, compared to 15.8% for the prior year period. The increase in gross margin was primarily due to strategic price increases, as well as the acquisition of Central Steel. Operating income for the quarter ended December 31, 2024 was approximately $1.2 million, compared to operating income of approximately $1.0 million in the prior year period.

    Corporate and Other

    Revenue for the quarter ended December 31, 2024 was approximately $57,000, a decrease of approximately $32,000, or 36.0%, compared to prior year period revenue of approximately $89,000. Operating loss for the quarters ended December 31, 2024 and 2023 were approximately $1.6 million.

    Non-GAAP Financial Information

    Adjusted EBITDA

    We evaluate the performance of our operations based on financial measures, such as “Adjusted EBITDA,” which is a non-GAAP financial measure. We define Adjusted EBITDA as net income (loss) before interest expense, interest income, income taxes, depreciation, amortization, stock-based compensation, and other non-cash or nonrecurring charges. We believe that Adjusted EBITDA is an important indicator of the operational strength and performance of the business, including the business’s ability to fund acquisitions and other capital expenditures and to service its debt. Additionally, this measure is used by management to evaluate operating results and perform analytical comparisons and identify strategies to improve performance. Adjusted EBITDA is also a measure that is customarily used by financial analysts to evaluate a company’s financial performance, subject to certain adjustments. Adjusted EBITDA does not represent cash flows from operations, as defined by generally accepted accounting principles (“GAAP”), should not be construed as an alternative to net income or loss, and is indicative neither of our results of operations, nor of cash flow available to fund our cash needs. It is, however, a measurement that the Company believes is useful to investors in analyzing its operating performance. Accordingly, Adjusted EBITDA should be considered in addition to, but not as a substitute for, net income, cash flow provided by operating activities, and other measures of financial performance prepared in accordance with GAAP. As companies often define non-GAAP financial measures differently, Adjusted EBITDA, as calculated by Live Ventures Incorporated, should not be compared to any similarly titled measures reported by other companies.

    Forward-Looking and Cautionary Statements

    The use of the word “Company” refers to Live Ventures and its wholly owned subsidiaries. Certain statements in this press release contain or may suggest “forward-looking” information within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, each as amended, that are intended to be covered by the “safe harbor” created by those sections. Words such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar statements are intended to identify forward-looking statements. Live Ventures may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on Forms 10-K and 10-Q, Current Reports on Form 8-K, in its annual report to stockholders, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties. There can be no assurance that such statements will prove to be accurate and there are a number of important factors that could cause actual results to differ materially from those expressed in any forward-looking statements made by the Company, including, but not limited to, plans and objectives of management for future operations or products, the market acceptance or future success of our products, and our future financial performance. The Company cautions that these forward-looking statements are further qualified by other factors including, but not limited to, those set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2024. Additionally, new risk factors emerge from time to time, and it is not possible for us to predict all such risk factors, or to assess the impact such risk factors might have on our business. Live Ventures undertakes no obligation to publicly update any forward-looking statements whether as a result of new information, future events or otherwise.

    About Live Ventures Incorporated

    Live Ventures is a diversified holding company with a strategic focus on value-oriented acquisitions of domestic middle-market companies. Live Ventures’ acquisition strategy is sector-agnostic and focuses on well-run, closely held businesses with a demonstrated track record of earnings growth and cash flow generation. The Company looks for opportunities to partner with management teams of its acquired businesses to build increased stockholder value through a disciplined buy-build-hold long-term focused strategy. Live Ventures was founded in 1968. In late 2011, Jon Isaac, Chief Executive Officer and strategic investor, joined the Company’s Board of Directors and later refocused it into a diversified holding company. The Company’s current portfolio of diversified operating subsidiaries includes companies in the textile, flooring, tools, steel, and entertainment industries.

    Contact:
    Live Ventures Incorporated
    Greg Powell, Director of Investor Relations
    725.500.5597
    gpowell@liveventures.com 
    www.liveventures.com 

    Source: Live Ventures Incorporated

    CONSOLIDATED BALANCE SHEETS
    (UNAUDITED)
    (dollars in thousands, except per share amounts)

      December 31, 2024   September 30, 2024
      (Unaudited)    
    Assets      
    Cash $ 7,407     $ 4,601  
    Trade receivables, net of allowance for doubtful accounts of $1.4 million at December 31, 2024 and $1.5 million at September 30, 2024   38,040       46,861  
    Inventories, net   123,389       126,350  
    Prepaid expenses and other current assets   3,594       4,123  
    Total current assets   172,430       181,935  
    Property and equipment, net   81,527       82,869  
    Right of use asset – operating leases   55,113       55,701  
    Deposits and other assets   1,455       787  
    Intangible assets, net   23,847       25,103  
    Goodwill   61,152       61,152  
    Total assets $ 395,524     $ 407,547  
    Liabilities and Stockholders’ Equity      
    Liabilities:      
    Accounts payable $ 28,478     $ 31,002  
    Accrued liabilities   30,548       31,740  
    Income taxes payable   1,483       948  
    Current portion of lease obligations – operating leases   13,219       12,885  
    Current portion of lease obligations – finance leases   467       368  
    Current portion of long-term debt   39,595       43,816  
    Current portion of notes payable related parties   7,670       6,400  
    Seller notes – related parties   —       2,500  
    Total current liabilities   121,460       129,659  
    Long-term debt, net of current portion   54,339       54,994  
    Lease obligation long term – operating leases   46,566       50,111  
    Lease obligation long term – finance leases   42,200       41,677  
    Notes payable related parties, net of current portion   6,871       4,934  
    Seller notes – related parties   41,119       40,361  
    Deferred tax liability, net   5,812       6,267  
    Other non-current obligations   3,882       6,655  
    Total liabilities   322,249       334,658  
    Commitments and contingencies      
    Stockholders’ equity:      
    Series E convertible preferred stock, $0.001 par value, 200,000 shares authorized, 47,840 shares issued and outstanding at December 31, 2024 and September 30, 2024, with a liquidation preference of $0.30 per share outstanding   —       —  
    Common stock, $0.001 par value, 10,000,000 shares authorized, 3,115,674 and 3,131,360 shares issued and outstanding at December 31, 2024 and September 30, 2024, respectively   2       2  
    Paid in capital   69,743       69,692  
    Treasury stock common 710,373 and 694,687 shares as of December 31, 2024 and September 30, 2024, respectively   (9,229 )     (9,072 )
    Treasury stock Series E preferred 80,000 shares as of December 31, 2024 and September 30, 2024   (7 )     (7 )
    Retained earnings   12,766       12,274  
      Total stockholders’ equity   73,275       72,889  
        Total liabilities and stockholders’ equity $ 395,524     $ 407,547  
                   

    LIVE VENTURES, INCORPORATED
    CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
    (dollars in thousands, except per share)

      For the Three Months Ended December 31,
        2024       2023  
    Revenue $ 111,508     $ 117,593  
    Cost of revenue   76,146       81,266  
    Gross profit   35,362       36,327  
           
    Operating expenses:      
    General and administrative expenses   30,071       27,679  
    Sales and marketing expenses   4,529       5,107  
    Total operating expenses   34,600       32,786  
    Operating income   762       3,541  
    Other expense:      
    Interest expense, net   (4,162 )     (4,163 )
    Gain on settlement of seller notes   713       —  
    Gain on settlement of earnout liability   2,840       —  
    Other income (expense)   420       (284 )
    Total other expense, net   (189 )     (4,447 )
    Income (loss) before provision for income taxes   573       (906 )
    Provision (benefit) for income taxes   81       (224 )
    Net Income (loss) $ 492     $ (682 )
           
    Income (loss) per share:      
    Basic and diluted $ 0.16     $ (0.22 )
           
    Weighted average common shares outstanding:      
    Basic   3,124,581       3,163,541  
    Diluted   3,124,820       3,163,541  
                   

    LIVE VENTURES INCORPORATED
    NON-GAAP MEASURES RECONCILIATION

    Adjusted EBITDA

    The following table provides a reconciliation of Net (loss) income to total Adjusted EBITDA¹ for the periods indicated (dollars in thousands):

      For the Three Months Ended
      December 31, 2024   December 31, 2023
    Net income (loss) $ 492     $ (682 )
    Depreciation and amortization   4,415       4,295  
    Stock-based compensation   50       50  
    Interest expense, net   4,162       4,163  
    Income tax expense (benefit)   81       (224 )
    Debt refinancing costs   —       183  
    Gain on extinguishment of debt   (713 )     —  
    Gain on write-off of earnout   (2,840 )     —  
    Acquisition costs   97       406  
    Adjusted EBITDA $ 5,744     $ 8,696  

    The MIL Network –

  • MIL-OSI: Zscaler to Host Second Quarter Fiscal Year 2025 Earnings Conference Call

    Source: GlobeNewswire (MIL-OSI)

    SAN JOSE, Calif., Feb. 06, 2025 (GLOBE NEWSWIRE) — Zscaler, Inc. (NASDAQ: ZS), the leader in cloud security, will release second quarter fiscal year 2025 earnings after the market closes on Wednesday, March 5, 2025. The company will host an investor conference call that day at 1:30 p.m. Pacific time (4:30 p.m. Eastern time) to discuss the results.

    Date: Wednesday, March 5, 2025
    Time: 1:30 p.m. PT
    Webcast: https://ir.zscaler.com
    Dial-in: To join by phone, register at the following link:Click Here. After registering, you will be provided with a dial-in number and a personal PIN that you will need to join the call.

    Please dial in at least 10 minutes prior to the 1:30 p.m. PT start time. A live webcast of the conference call will be accessible from the Zscaler website at ir.zscaler.com. Listeners may log on to the call under the “Events & Presentations” section and select “Q2 2025 Zscaler Earnings Conference Call” to participate.

    About Zscaler

    Zscaler (NASDAQ: ZS) accelerates digital transformation so customers can be more agile, efficient, resilient, and secure. The Zscaler Zero Trust Exchange™ platform protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications in any location. Distributed across more than 150 data centers globally, the SSE-based Zero Trust Exchange™ is the world’s largest in-line cloud security platform.

    Zscaler™ and the other trademarks listed at https://www.zscaler.com/legal/trademarks are either (i) registered trademarks or service marks or (ii) trademarks or service marks of Zscaler, Inc. in the United States and/or other countries. Any other trademarks are the properties of their respective owners.

    Media Relations Contact:
    Natalia Wodecki
    press@zscaler.com

    Investor Relations Contact:
    Ashwin Kesireddy
    ir@zscaler.com

    The MIL Network –

  • MIL-OSI: Enphase Energy Expands its Support for Grid Services Programs Across North America

    Source: GlobeNewswire (MIL-OSI)

    FREMONT, Calif., Feb. 06, 2025 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, announced today that it is expanding its support for grid services programs – or virtual power plants (VPPs) – in Puerto Rico, Colorado, and Nova Scotia, Canada, powered by the IQ® Battery 5P.

    Grid services programs are offered by electric utilities and often use energy stored in home batteries to help reduce load on the electric grid when it is needed most, like during periods of peak electricity demand. This reduces reliance on costly and polluting power plants for electricity and, in return, can provide incentives to homeowners from their utility company. Incentives may be provided as a discount on the purchase of an Enphase® Energy System with IQ® Batteries or as ongoing payments to participating homeowners. Homeowners are most recently eligible to enroll in the following programs:

    LUMA Energy Puerto Rico Customer Battery Energy Sharing Program: Participants in Puerto Rico enrolled in this program with three IQ Battery 5Ps are eligible to receive approximately $1,000 per year if the batteries deliver up to 80% of their energy capacity during each demand response event. Learn more about the details of the program on the Enphase website or by registering for the upcoming homeowner informational webinar (in Spanish).

    “We are thrilled that the IQ Batteries we deploy in our communities can go towards making the grid more reliable for everyone,” said Carlos Martínez Muñoz, CEO of Solar Roots, an installer of Enphase products in Puerto Rico. “Grid services programs will help home solar and storage systems contribute to a greater good.”

    Xcel Colorado Renewable Battery Connect Program: Homeowners who decide to install an Enphase IQ Battery and are Xcel Energy customers in Colorado are eligible to receive an upfront incentive of $350/kW, capped at $5,000 per site. Customers who decide to install three IQ Battery 5Ps could earn $4,032 upfront plus an annual payment of $100 over the five-year participation period. Learn more about the details of this program on the Xcel Energy Colorado webpage.

    “This program is a fantastic opportunity for Colorado homeowners to maximize the value of their Enphase IQ Batteries,” said Kevin Love, co-owner of Atlasta Solar Center, an installer of Enphase products based in Colorado. “Participants can earn meaningful incentives while supporting a more resilient and sustainable energy grid. It’s a win for both customers and our clean energy transition.”

    Efficiency Nova Scotia Eco Shift Pilot: Participants enrolled in this pilot are rewarded with $500 upfront, plus an average performance incentive of $300 per kW delivered per season. A typical 15 kWh Enphase IQ Battery system consisting of three IQ Battery 5Ps are eligible to receive up to $1,500 per year in performance incentives if the batteries deliver up to 80% of their energy capacity during each demand response event. Learn more about the details of the program on the Eco Shift Nova Scotia program website.

    “The Eco Shift program is a fantastic opportunity for Canadian homeowners to make the most of their Enphase home solar and battery systems while contributing to grid stability and efficiency,” said Tom Rendle, managing director at Watts Up Solar, an installer of Enphase products based in Nova Scotia. “As electrification increases and demand on the grid grows, we’re excited to expand deployments of IQ Batteries to support powering homes and a more resilient energy future for the community at large.”

    “Our cutting-edge solutions make it easy for homeowners to engage in grid services programs while maximizing the benefits of their Enphase systems,” said Ken Fong, senior vice president and general manager of the Americas and APAC Sales at Enphase Energy. “The IQ Battery 5P’s reliability and performance are key to providing homeowners with long-term value, and we’re excited to expand our efforts to support virtual power plants, offering a cleaner, more resilient energy future across North America.”

    For more information about grid services, please visit the Enphase website.

    About Enphase Energy, Inc.

    Enphase Energy, a global energy technology company based in Fremont, CA, is the world’s leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power—and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 80.0 million microinverters, and approximately 4.7 million Enphase-based systems have been deployed in more than 160 countries. For more information, visit https://enphase.com/.

    ©2025 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks or service marks of Enphase Energy, Inc. in the U.S. and other countries. Other names are for informational purposes and may be trademarks of their respective owners.

    Forward-Looking Statements

    This press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality and reliability; and expectations regarding the various incentive programs in Puerto Rico, Colorado, and Nova Scotia, Canada. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties including those risks described in more detail in Enphase Energy’s most recently filed Quarterly Report on Form 10-Q, Annual Report on Form 10-K, and other documents filed by Enphase Energy from time to time with the SEC. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, or changes in its expectations, except as required by law.

    Contact:

    Enphase Energy

    press@enphaseenergy.com

    This press release was published by a CLEAR® Verified individual.

    The MIL Network –

  • MIL-OSI: Monarch Private Capital Announces Successful $275 Million Bond Issuance Led by HSBC

    Source: GlobeNewswire (MIL-OSI)

    ATLANTA, Feb. 06, 2025 (GLOBE NEWSWIRE) — Monarch Private Capital, a nationally recognized tax-advantaged investment firm, proudly announces a $275 million bond issuance to finance affordable housing projects, reinforcing its commitment to narrowing the affordable housing gap in the United States.

    HSBC served as the Sole Placement Agent for the Monarch Issuer 2024-2, LLC private asset-backed securities (ABS) transaction. On December 11, 2024, HSBC priced the $275 million issuance, with $220 million funded on December 18, 2024. The remaining $55 million will be funded through a Delay Draw mechanism over the next 12 months, supporting additional projects currently under construction.

    The bond proceeds will finance 58 low-income housing projects across Georgia, South Carolina, and Oklahoma, generating quality affordable housing units while stimulating local economies. Monarch will repay principal and interest on the Notes through its syndication of Low Income Housing Tax Credits (LIHTCs) to institutional investors, including insurance companies, corporate clients, and high-net-worth individuals.

    A Collaborative Effort for Positive Impact

    HSBC’s collaboration extended beyond placement services, contributing structuring, ratings advisory, and trustee services to ensure seamless execution.

    “This bond issuance reflects our unwavering commitment to addressing the nation’s urgent housing needs,” said Ian Chomat, Partner and Chief Financial Officer at Monarch Private Capital. “By leveraging our extensive experience in affordable housing, we aim to deliver more high-quality homes and create opportunities that strengthen communities and local economies.”

    Monarch’s Continued Leadership in Impact Investing

    Since its inception, Monarch has paired tax equity investing with a focus on community impact, while mitigating federal and state tax liabilities for investors. Monarch has managed tax equity impact investments in 945 projects generating $7.2 billion of tax credits, including more than $2.2 billion in LIHTCs, as of December 2024. Those projects have enabled nearly $18 billion in project capital, and over $37 billion in economic impact in 42 states, plus Washington D.C.

    For more information about Monarch’s programs and services, please contact Ian Chomat at ichomat@monarchprivate.com.

    About Monarch Private Capital

    Monarch Private Capital manages impact investment funds that positively impact communities by creating clean power, jobs and homes. The funds provide predictable returns through the generation of federal and state tax credits. The Company offers innovative tax credit equity investments for affordable housing, historic rehabilitations, renewable energy, film and other qualified projects. Monarch Private Capital has long-term relationships with institutional and individual investors, developers, and lenders participating in these federal and state programs. Headquartered in Atlanta, Monarch has offices and professionals located throughout the United States.

    About HSBC

    HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 60 countries and territories. With assets of US$3,099bn at 30 September 2024, HSBC is one of the world’s largest banking and financial services organizations.

    CONTACT

    Jane Rafeedie

    Monarch Private Capital

    Jrafeedie@monarchprivate.com

    470-283-8431

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3952c63a-5dd4-4db2-bbf2-221fd808bad1

    The MIL Network –

  • MIL-OSI: AT&T and TransUnion Launch In-Network Branded Call Display with Reason for Call

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Feb. 06, 2025 (GLOBE NEWSWIRE) — AT&T and TransUnion (NYSE: TRU) are now offering outgoing calls for businesses that display a reason for the call in addition to showing their brand name and logo. This capability is made possible through TransUnion’s Branded Call Display, and it gives AT&T wireless subscribers more confidence in who’s calling and why. Reason for the call will appear for most Android users on incoming calls from participating businesses and organizations, and in the call details page after a call is missed. 1

    No app is needed to receive these branded calls. They are verified with end-to-end industry standard STIR/SHAKEN call authentication to help ensure that the call is legitimate and not spoofed. Displaying the reason for the call is the latest evolution from TransUnion and AT&T. It builds on momentum from January 2024 when the companies announced the ability to add a business’s name and brand logo to the mobile display.

    “We’re excited to announce the ability for businesses to add the reason for their call to the mobile display,” said Erin Scarborough, AT&T senior vice president, Mass Markets Product Management. “Research shows consumers still prefer calling for communicating with businesses – especially for urgent, personal, or high-value issues. Now they can safely answer verified branded calls, knowing who’s calling and why.”

    Reasons for the call can include a wide range of options, including: “Appointment Reminder,” “Customer Inquiry,” “Customer Service,” “Refill Reminder,” “Delivery Service,” “Patient Callback,” “Upcoming Visit,” and more. No action is required from AT&T wireless customers to see reasons for calls.

    “Businesses have a tremendous opportunity to improve customer experiences and business outcomes with this iteration of branded calling,” said James Garvert, senior vice president of TruContact Communications Solutions at TransUnion. “Adopting these capabilities shows a good faith effort by the business to protect consumers from fraud and address their most pressing concerns.”

    Consumers have made it clear they want more protection against unwanted calls and fraud. According to a recent TransUnion survey, 73% of consumers said they’d be likely to answer calls if name and logo were shown.

    In addition, consumers indicated they highly value phone calls for their most important issues. The situations consumers most prefer to handle with businesses by phone are:

    • Personal, e.g., health issues (64%)
    • High-value decisions, e.g., home or auto purchases (55%)
    • Urgent circumstances, e.g., natural disasters (55%)
    • Complex decisions, e.g., estate planning (40%)

    Learn more about TransUnion Branded Call Display here.

    1 Branded logo and reason for the call appear when the phone rings, and in the call details page after a call is missed, on most Android devices. On other operating systems, branded logo appears on the mobile display.

    About AT&T
    We help more than 100 million U.S. families, friends and neighbors, plus nearly 2.5 million businesses, connect to greater possibility. From the first phone call 140+ years ago to our 5G wireless and multi-gig internet offerings today, we @ATT innovate to improve lives. For more information about AT&T Inc. (NYSE:T), please visit us at about.att.com. Investors can learn more at investors.att.com.

    About TransUnion (NYSE: TRU)
    TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world. http://www.transunion.com/business

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/066f2591-116d-4919-8f36-2c545538aa65

    Contact          

    E-mail   

    Telephone

    		 Dave Blumberg
    TransUnion

    david.blumberg@transunion.com

    312-972-6646

    The MIL Network –

  • MIL-OSI: LVT Bolsters Executive Leadership Amid Rapid Company Growth And Surging Demand for Advanced Security Tech

    Source: GlobeNewswire (MIL-OSI)

    AMERICAN FORK, Utah, Feb. 06, 2025 (GLOBE NEWSWIRE) — LVT (LiveView Technologies, Inc.), the leader of customizable mobile security solutions, today announced four executive hires to support the company’s rapid growth and customer expansion as it enters its 20th year in business:

    • Chief Human Resources Officer Will Clive will manage LVT’s people team and drive the development of innovative initiatives aimed at enhancing the employee experience and productivity. Will was previously the Chief People Officer at Pluralsight, where he helped transform its HR function into a competitive differentiator.
    • Chief Information Security Officer Ryan Gurney will lead the information security team to continually strengthen the company’s data security practices and maintain compliance with evolving industry regulations. Ryan was previously Chief Security Officer with Looker, which joined Google Cloud in 2020, where he built the company’s information security and compliance program.
    • Chief Revenue Officer Spencer Steed will oversee LVT’s go-to-market strategy and operations to help accelerate the company’s growth as it unveils new features and industry-first capabilities. Spencer was previously Senior Vice President of Sales, Public Sector, at Qualtrics, where he led company growth across federal, state, local, and education customers.
    • Chief Customer Officer Taylor Wetzel will develop a comprehensive customer-centric strategy and define key performance indicators to optimize customer outcomes, loyalty, and growth. Taylor was previously Senior Vice President of Customer Success at Qualtrics, where he guided efforts to improve the experience, retention, and ROI for more than 20,000 global customers.    

    “LVT has sustained remarkable growth for more than a decade, and we will soon scale even further by introducing unprecedented security capabilities to improve safety and efficiency for companies across the nation,” said Ryan Porter, LVT co-founder and CEO. “We are excited to have Will, Ryan, Spencer, and Taylor on board to support our mission, and we welcome their breadth of experience and insights to keep moving LVT forward.”

    These four new executives will be pivotal in supporting LVT’s expanding employee base and providing diverse perspectives to preserve its position as a leading innovator in mobile security technology. Growth milestones include the following:

    • In 2024, LVT was recognized for its 226% revenue growth on the Deloitte Technology Fast 500™ and 227% revenue growth on the Inc. 5000.
    • Utah Valley BusinessQ honored LVT as a UV50 fastest-growing company and economic engine.
    • LVT experienced a 25% increase in year-over-year headcount between January 2024 and January 2025.

    LVT provides customizable mobile security units (MSUs) that have driven measurable safety improvements and security operation efficiencies across retail, government, construction, education, and other industries. In January, LVT revealed SafeNow, a first-of-its-kind feature that empowers LVT customer employees to access MSU features directly from their phones.

    Learn more about LVT and how its MSUs can help you discover, deter, and defend against threats at https://www.lvt.com/.

    About LVT
    LVT (LiveView Technologies, Inc.) is a leader in life safety and security and the premier developer and manufacturer of mobile, solar-powered and cellular/satellite-connected surveillance solutions and software. Headquartered in American Fork, Utah, LVT’s enterprise software-as-a-service (SaaS) solution is used by retailers, critical infrastructure and utilities, construction projects, warehouse and distribution centers, police, municipalities, and more. LVT is proud to be made in the USA and manufactured in Utah. For more information, visit www.lvt.com.

    Media Contacts:
    Matthew Deighton
    LiveView Technologies
    media@lvt.com

    The MIL Network –