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MIL-OSI China: Iraq announces final results of Kurdistan’s parliamentary elections

Source: China State Council Information Office

The Iraqi Independent High Electoral Commission (IHEC) announced Wednesday the final results of the parliamentary elections of Iraq’s semi-autonomous Kurdistan region, with the Kurdistan Democratic Party (KDP) leading with 39 seats.

IHEC’s Chairman Judge Omar Ahmed said at a press conference that the final results showed that the KDP led with 39 seats in the regional 100-seat parliament, while the Patriotic Union of Kurdistan followed with 23 seats and the New Generation Movement with 15 seats.

Ahmed said that the political parties have the right to appeal the results within three days.

Iraq’s Kurdistan regional parliamentary elections kicked off on October 20 to elect 100 lawmakers out of 1,091 candidates.

The elections were originally scheduled for 2022 but have been continuously delayed due to political differences.

MIL OSI China News –

January 25, 2025
MIL-OSI China: Former Malaysian PM ordered to enter defense in 1MDB case

Source: China State Council Information Office

Former Malaysian Prime Minister Najib Razak has been ordered to enter his defense against 25 charges of abuse of power and money laundering involving state investment fund 1Malaysia Development Berhad (1MDB) on Wednesday.

The High Court has called on Najib to enter his defense on four charges of power abuse and 21 charges of money laundering involving 2.28 billion ringgit (520 million U.S. dollars) after Justice Collin Lawrence Sequerah said it had conducted a maximum evaluation and found the prosecution had proven prima facie in its case against the former prime minister.

The 1MDB trial now has 97 hearing dates scheduled from Dec. 2 this year until November 2025, with trial dates for every month during this period except for July next year.

Najib, 71, has been serving a sentence since Aug. 23, 2022, after being convicted in a separate criminal trial over misappropriating 42 million ringgit from SRC International Sdn Bhd, a former unit of 1MDB.

Following his conviction, he successfully filed a petition for a royal pardon, which resulted in a reduction of his 12-year imprisonment to six years and a fine cut from 210 million ringgit to 50 million ringgit in February. (1 ringgit equals 0.23 U.S. dollar)

MIL OSI China News –

January 25, 2025
MIL-OSI Security: Defense News: Strengthening Alliances Through Learning, NPS Hosts European International Alumni Symposium

Source: United States Navy

The symposium, sponsored in part by the Department of State as part of the U.S. International Military Education Training (IMET) program, is in direct support of the Secretary of the Navy Carlos Del Toro’s strategic priorities to strengthen international alliances for collective defense. It also supports the “Enhance Partnerships” objective in the Naval Education Strategy by offering opportunities to learn alongside our allies and partners, which is a key component to succeeding in deterring conflict and the strategic power competition.

“In so many ways, [educational institutions] are the engines of what happens in the future,” said Adm. Stuart Munsch, commander of U.S. Naval Forces Europe-Africa and commander of Allied Joint Force Command Naples, during his welcoming remarks. “They not only equip individuals with the skill sets to think about particular knowledge areas but, more broadly, to think critically and strategically. These institutions are what provide this foundation for our future, and the Naval Postgraduate School is among them.”

Building on the Indo-Pacific NPS Alumni Symposium held last year, the European symposium agenda spanned a full three days, packed with plenary sessions, panels, and keynote addresses, which included discussions ranging from energy security and space systems to contested logistics and climate change. NPS faculty presented and discussed cutting-edge research in emerging defense technologies, furthering academic collaboration, shared learning, and strategic engagement with international partners.

Beyond the formal sessions and professional exchange, the symposium also provided an opportunity to advance important relationships, maritime statecraft, and reconnect NPS with its global community of alumni.

“These relationships matter and continuing to cultivate them matters because our alumni network is a vital resource,” said U.S. Army Gen. Christopher Cavoli, Supreme Allied Commander and Commander, U.S. European Command. “It provides us with an unparalleled opportunity to share knowledge, exchange ideas, and foster innovation all around the globe.”

In addition to robust discussions on security and defense, participants valued the chance to reconnect with former classmates, professors, and new colleagues from across Europe.

“NPS helped us reach a deeper understanding of where we’re going together. In terms of cooperative security and collective defense right now, NPS is very well represented in key positions in NATO, not only in the operational side of the house but also in the future planning,” said Maj. Gen. Claudiu Dobocan, commander, Romanian Special Operations Command and a 2004 NPS Defense Analysis graduate. “NPS is on the forefront for relation building but also on the front of conceptual theories which will push forward NATO and U.S. instruments.”

Among the many discussions held during the event, one key session focused on climate and energy security in Europe, featuring panelist Kristen Fletcher of NPS’ Energy Academic Group who highlighted important ongoing research in the field. Symposium attendees and NPS faculty visited the Schneefernerhaus Environmental Research Station, Germany’s highest environmental research facility, where they learned about the facility’s history and ongoing climate research, which furthered the discussion.

“This symposium has given us the chance to share global perspectives on climate security,” Fletcher said. “The research shared with us today on increasing greenhouse gas emissions, along with physical observations of a nearly depleted glacier, highlights the need for awareness and partnerships to understand the impacts of climate change on military missions.”

As the symposium concluded, participants expressed gratitude for the opportunity to reunite with old colleagues, meet new ones, and discuss shared challenges and opportunities for collaboration.

NPS attracts students from around the globe, advancing their skills while also supporting the development of enduring personal connections. International alumni symposiums focus on strengthening those relationships while addressing present-day challenges, reaffirming the collective dedication to global security.

“NPS gives us the opportunity to connect people from different countries, different cultures, building trust and the feeling that we are stronger together,” said 2024 Security Studies graduate Tea Nikolashvili, director, Defense Institution Building School, Ministry of Defense, Georgia. “Symposiums like this are an additional opportunity for us to communicate with our peers and widen our perspectives as well as build professional networks, supporting both national and international security objectives and implementation processes.”

The event was organized by NPS’ International Graduate Programs Office (IGPO) with additional support from the NPS Foundation and Alumni Association. More than 7,000 students from nearly 130 countries have graduated from NPS since 1954.

“None of us are as strong as all of us,” said Danial Pick, director of IGPO. “Allied countries send their best to NPS, and they contribute so much to our learning beyond their coursework and research to enhance our culture and strengthen future alliances, which are so important today.”

Through the institution’s unique, defense-focused graduate education and research programs and a student body reaching all corners of the globe, NPS continues to drive knowledge and relevant innovation to enhance the strategic capabilities of the United States as well as its international partners.

“It was a privilege to collaborate with senior military representatives and NPS alumni from around the globe to discuss and execute the importance of strategic engagement among international partners,” said NPS President retired Vice. Adm. Ann Rondeau. “I want to express my sincere thanks to everyone who worked diligently to ensure the symposium was a success, especially to the George C. Marshall European Center for Security Studies and Director retired U.S. Air Force Maj. Gen. Barre R. Seguin for graciously co-hosting our first NPS European International Alumni Symposium – it was a great team effort!”

NPS, located in Monterey, California, provides defense-focused graduate education, including classified studies and interdisciplinary research, to advance the operational effectiveness, technological leadership, and warfighting advantage of the Naval service. Established in 1909, NPS offers master’s and doctorate programs to Department of Defense military and civilians, along with international partners, to deliver transformative solutions and innovative leaders through advanced education and research. For more information, visit NPS at https://nps.edu.

Check out highlights and hear from symposium attendees in this recap of NPS’ first-ever European International Alumni Symposium, https://youtu.be/KSJq5QHAoC8.

MIL Security OSI –

January 25, 2025
MIL-OSI United Kingdom: Professor Sir Munir Pirmohamed appointed chair of CHM for another four years as three commissioners reappointed
Source: United Kingdom – Executive Government & Departments

The appointment will involve a time commitment of 33 days per year. Remuneration for the role will be at a rate of £500 per attendance and preparation for meetings.
Professor Sir Munir Pirmohamed has been appointed chair of the Commission on Human Medicines (CHM) for another four years, from 12 February, 2025.

The CHM is an advisory non-departmental public body which is sponsored by the Department of Health and Social Care (DHSC).

The CHM advises ministers on the safety, efficacy and quality of medicines.

Three commissioners have been reappointed:

Professor Marc Turner and Professor Christopher Weir have been reappointed to for a further four years from 5 July, 2024.

Professor Poulam Patel has been reappointed for a further two years from 5 July 2024.

The appointments will involve a time commitment of approximately 22 days per year, including 11 meetings. Remuneration for the roles will be at a rate of £325 per meeting.

All appointments are made in accordance with the Cabinet Office Code of Governance for Public Appointments.

The regulation of public appointments against the requirements of this code is carried out by the Commissioner for Public Appointments.

The appointments are made on merit and political activity played no part in the decision process. However, in accordance with the code, there is a requirement for appointees’ political activity (if any declared) to be made public.

None of the appointees have declared any political activity.

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Published 30 October 2024
MIL OSI United Kingdom –
January 25, 2025
MIL-OSI Russia: Survey “Socio-psychological well-being”

Translation. Region: Russian Federation –

Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering –

The research and communication platform “Caring Person” is conducting a sociological survey “Socio-psychological well-being” from October 25 to November 17.

Students, teachers, and administrators of higher education institutions can share their feelings about their university and what areas need to be changed. Students can also assess their employment prospects after graduation.

Your opinion is important and directly influences the future development of the university!

Link to the survey

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

MIL OSI Russia News –

January 25, 2025
MIL-OSI China: UN human rights council to open office in Bangladesh

Source: China State Council Information Office 3

The United Nations Human Rights Council (UNHRC) has decided to set up an office in Bangladesh’s capital Dhaka to strengthen its activities in the South Asian country.

Bangladeshi interim government’s Social Welfare Advisor Sharmeen S. Murshid said following a meeting with U.N. High Commissioner for Human Rights Volker Turk in Dhaka Tuesday.

“It is a very important decision. The interim government agreed over establishment of the U.N. human rights office in Dhaka,” the advisor said.

She said that the office’s presence here will strengthen the country’s position on human rights.

MIL OSI China News –

January 25, 2025
MIL-OSI China: 51 killed by flash floods in eastern Spain: report

Source: China State Council Information Office 3

At least 51 people have died in flash floods in the Spanish province of Valencia as torrential rains continue to ravage the country’s eastern and southern coasts, state broadcaster TVE reported on Wednesday.

Since the authorities declared a red alert for torrential rains on Tuesday, several people have been missing in heavy flooding that has swept away vehicles and disrupted rail services.

Six people were reported missing in the town of Letur, close to Valencia in Albacete. In Valencia, two Civil Guard police officers and a truck driver are still being searched for.

The Spanish government set up a crisis committee on Wednesday to assess the damage caused as rescuers continue to search for victims.

At the opening of the Spanish Congress on Wednesday morning, Francina Armengol, the parliament speaker, called for a minute’s silence for the victims.

MIL OSI China News –

January 25, 2025
MIL-OSI China: Endless U.S. plotting pushes Panama to seek more global cooperation, says expert

Source: China State Council Information Office 3

Decades of the U.S. plotting to make profits at the price of Panama’s interests has pushed the Central American country to seek more global cooperation, a Panama-based international relations expert has said.

Julio Yao, former foreign policy advisor to the late Panamanian leader General Omar Torrijos, recalled the history of nonstop U.S. intervention in Panama since the turn of the 20th century in a recent interview with Xinhua.

Panama gained its independence from Spain in 1821 and from Colombia in 1903, though the latter was in essence “a deception” devised by the United States to gain control of the strategic Panama Canal, Yao said.

“From that moment on, the United States took over the so-called Canal Zone,” starting a long string of unfortunate events for Panama, he said.

On top of the list was the attempt to establish the failed Kellogg-Alfaro treaty in the 1920s, which was rejected because it aimed to legalize the presence of U.S. troops on Panamanian soil.

“That treaty completely turned Panama into a U.S. military base, that is, a military springboard for the rest of Latin America,” the expert said.

Nevertheless, unilateral interventions by the United States persisted in Panama, he said.

For much of the 1970s, the U.S. government was “permanently” pressuring Panama to grant it protection and defense rights over the canal in perpetuity, Yao recalled.

At the time, the career diplomat was advising Torrijos and then Foreign Minister Juan Antonio Tack in drafting treaties, such as the 1974 Tack-Kissinger Declaration, which made a point of setting a deadline on the U.S. occupation of the canal.

“Why did we have to emphasize the fixed deadline? Because the Americans always deceived Panama with a later date and never left Panama,” Yao said.

In September 1977, the Torrijos-Carter Treaties were signed by Torrijos and then U.S. President Jimmy Carter, establishing that the Panama Canal would be turned over to Panamanian control on Dec. 31, 1999.

Prior to that, the U.S. “obsession” with controlling the Panama Canal occasionally turned “explosive,” Yao said.

On Dec. 20, 1989, a date now known as the Day of National Mourning, U.S. troops invaded Panama to capture Panamanian General Manuel Noriega, later convicting him of drug trafficking and money laundering.

To break with the past, Yao said he believes that Panama should look to more “humanist,” multilateral mechanisms such as BRICS.

Such mechanisms have created a counterweight to hegemonic power in several aspects, said the expert.

“The United States is really in a very ruinous position,” Yao said, noting that at such a juncture, concepts such as the Global South are relevant today since they shelve religious or political differences in favor of promoting joint development.

The Global South is “a good concept” because it addresses many similar situations in Africa, Latin America and even the Middle East, Yao said.

People want to emerge from underdevelopment or the lack of development, and to that end, BRICS countries have taken “the right path” towards global development, through measures that go beyond resolving local or regional issues, he said.

“I firmly believe in BRICS and I believe very firmly in the Global South,” Yao said.

“If you look at the new foreign policy of some African countries, they are on the right track. That is a great awakening for a region that has been very impoverished, very dominated, very interfered with, very manipulated, so I think there is reason to feel optimistic,” he said.

MIL OSI China News –

January 25, 2025
MIL-OSI China: ADB approves $500M loan for Pakistan to support climate resilience

Source: China State Council Information Office 3

The Asian Development Bank (ADB) said Tuesday it has approved 500 million U.S. dollars in policy-based loan to support climate and disaster resilience efforts in Pakistan, said a statement.

The bank’s Pakistan office said that the Climate and Disaster Resilience Enhancement Program will strengthen Pakistan’s institutional capacity for planning, preparedness, and response.

According to the bank, the program will increase inclusive investment in disaster risk reduction and climate resilience and support the scale-up of disaster risk financing using a risk-layered approach.

The ADB added that Pakistan ranks among the most vulnerable countries to climate change and disasters, with average losses from disaster events exceeding 2 billion U.S. dollars annually.

“This program builds on the ADB’s long-standing work in Pakistan to understand and reduce climate and disaster risks and support effective disaster response,” said ADB Director General for Central and West Asia Yevgeniy Zhukov.

The bank added that the program aims to strengthen disaster resilience in Pakistan by advancing disaster risk mapping and modeling to guide development and investment decisions.

The program would further support a solidarity fund to promote risk transfer solutions, including agricultural insurance, and will implement shock-responsive social protections to provide cash assistance to those affected by future disasters, added the bank.

MIL OSI China News –

January 25, 2025
MIL-OSI China: Nearly half of voters question American democracy: survey

Source: China State Council Information Office 3

Nearly half of U.S. voters doubt the government’s ability to serve the common good, with 45 percent saying it fails to represent them, according to a survey released by The New York Times on Sunday.

The survey, conducted nationwide from Oct. 20 to 23 among 2,516 likely voters, found that 62 percent believe the government primarily serves its own interests and elites.

Such frustrations, compounded by economic challenges, partisan divides, and unresolved social issues, have weakened confidence in the nearly 250-year-old democratic system, said the report.

The survey also highlighted a stark partisan divide, with 60 percent of voters blaming former President Donald Trump for worsening it, while 37 percent pointed to Vice President Kamala Harris.

“It’s not just Democrat or Republican, it’s the Washington elite,” retired farmer Randal Parr was quoted as saying in the report. “The Washington elite control everything, and the will of the people has been ignored.”

Some voters expressed frustration over government inaction on pressing issues. “It’s always a school shooting,” said temporary worker Sarah Washington. “Nothing still being done about it. They talk about it, and then another one happens.”

Roughly one-third of respondents worry that America’s problems are so severe that it could fail as a nation, while 58 percent say the nation’s financial and political systems require significant reforms or a complete overhaul, the survey showed.

MIL OSI China News –

January 25, 2025
MIL-OSI: AI Company Brand Engagement Network Announces Agreement to Acquire German Media Technology Leader Cataneo Gmbh

Source: GlobeNewswire (MIL-OSI)

JACKSON, Wyo., Oct. 30, 2024 (GLOBE NEWSWIRE) — Brand Engagement Network, Inc.(BEN) (NASDAQ: BNAI), a global leader in secure and reliable conversational AI solutions for businesses and consumers, today announced it has agreed to acquire 100% of Cataneo Gmbh (Cataneo), a privately-owned media technology company based in Munich, Germany, in a cash and stock transaction.

Cataneo, a leader in media technology, offers an all-in-one solution for ad sales, inventory management, and campaign optimization. The company has been profitable throughout the years, with its platform helping broadcast and entertainment companies streamline operations, increase revenue, and enhance audience engagement. By integrating BEN’s advanced Generative AI, Cataneo is poised to strengthen its offerings and deliver even greater value to its brands and customers.

Cataneo’s Mydas platform is a rapidly growing, highly sophisticated air-time sales management and ad traffic system managing over 5 billion euros in annual media spending. Supporting over 5,000 users and more than 1,000 media brands across four continents, the Mydas platform operates on a robust recurring revenue model. It offers a fully integrated, 100% SaaS cloud solution consolidating all advertising inventories into a common currency on a single platform.

Combined Synergies Enhance Conversational Gen-AI for Global Media Brands

“We believe the combination of BEN’s safe, intelligent, and scalable Generative AI platform, with Cataneo’s Mydas tools, can transformhow brands engage with their customers,” said Paul Chang, Chief Executive Officer of BEN. “This acquisition marks a significant step towards the future of interactive advertising, where consumers are not just marketed to, but actively engaged with, leading to more meaningful and enhanced online experiences.”

Cataneo’s Chief Executive Officer, Renato Rocha Pinto, expressed his excitement about the partnership. He stated, “We believe combining our technologies will significantly enhance consumer engagement and substantially benefit our global clients. BEN’s AI has the capability to generate deep insights and explore innovative consumer engagement opportunities across various media outlets, extending beyond traditional platforms.”

The acquisition underscores BEN’s commitment to strategic growth through mergers and acquisitions, enabling BEN to expand the reach of its core AI platform to over 1,000 media brands. This positions BEN to lead the next generation of conversational Gen-AI engagement, providing consumers with real-time, accurate, and helpful information across various channels, including while on the move and driving.

While Cataneo will continue to serve its existing clients independently, the company plans to collaborate closely with BEN to integrate AI into its internal processes and provide enhanced customer tools. The combined strength of BEN’s Generative AI and Cataneo’s platform is expected to expand Cataneo’s global presence significantly.

Transaction Details
The total purchase price for the acquisition is $19.5 million, comprised of $9.0 million in cash and 4.2 million shares of BEN common stock at an agreed-upon value of $2.50 per share. Depending on certain conditions before closing, a portion of the shares may be converted into the right to receive up to $3.0 million in cash. Upon closing, Cataneo will become a wholly owned subsidiary of BEN, with plans to expand operations in the U.S. and Latin America. This acquisition positions both companies for significant growth in the broadcast and agency premium advertising workflow management solutions market, a $2.0 billion segment within the broader $45 billion global media technology market. Renato Rocha Pinto will continue as Cataneo’s Chief Executive Officer after the acquisition.

The transaction is subject to securing financing on mutually agreeable terms and obtaining customary regulatory approvals and guarantees by certain BEN shareholders. It is expected to close in the fourth quarter of 2024.

For more information about BEN’s safe, intelligent, scalable AI, please visit www.beninc.ai. For details about Cataneo, please visit www.cataneo.tv.

About BEN
Brand Engagement Network is a global leader providing secure and reliable conversational AI solutions for businesses and consumers. With offices in Jackson, Wyoming, and Seoul, South Korea, BEN offers a powerful and flexible platform that enhances customer experiences, boosts productivity, and delivers business value. At the heart of BEN’s offerings are AI-powered digital assistants and lifelike avatars, providing more personal and engaging experiences through browsers, mobile applications, and even life-size kiosks. These safe, intelligent, and inherently scalable AI solutions empower businesses to efficiently serve customers using validated data delivered through SaaS, Private Cloud, and On-Premises technology. BEN’s commitment to data sovereignty ensures that consumer and business data remain private, protected, and wholly owned by the respective parties. BEN’s mission is to make AI friendly and helpful for all, ensuring more people benefit from the AI-enhanced world.

About Cataneo
Cataneo is a global provider of comprehensive media management solutions for linear, non-linear, and digital media, headquartered in Munich, Germany. Cataneo’s platform is highly customizable and scalable and offers end-to-end solutions for advertising sales, traffic management, and campaign optimization across multiple media channels. With over two decades of experience, Cataneo supports over 1,000 media brands across 200+ channels in 4 continents, providing cutting-edge tools for inventory management, yield optimization, and programmatic ad sales. The company’s flagship platform, MYDAS, empowers media businesses to optimize revenues and streamline operations with advanced data analytics, CRM integration, and real-time reporting. Cataneo’s mission is to bridge the gap between media buyers, sellers, and platforms, offering a unified ecosystem for seamless media transactions and enhanced audience engagement.

Forward-Looking Statements
Certain statements in this communication are “forward-looking statements” within the meaning of federal securities laws. They are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect, among other things, BEN’s current expectations, assumptions, plans, strategies, and anticipated results, including the closing and anticipated benefits of the acquisition of Cataneo (the “Cataneo Acquisition”). Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance.

There are a number of risks, uncertainties and conditions that may cause BEN’s actual results to differ materially from those expressed or implied by these forward-looking statements, including but not limited to: (i) uncertainties as to the timing of the Cataneo Acquisition; (ii) the risk that the Cataneo Acquisition may not be completed on the anticipated terms in a timely manner or at all; (iii) the failure to satisfy any of the conditions to the consummation of the Cataneo Acquisition, including the ability to obtain financing to fund the Cataneo Acquisition on terms that are agreeable to the parties or at all; (iv) the possibility that any or all of the various conditions to the consummation of the Cataneo Acquisition may not be satisfied or waived, including the failure to receive any required regulatory approvals from any applicable governmental entities (or any conditions, limitations or restrictions placed on such approvals) or required major shareholder guarantees; (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the purchase agreement; (vi) the effect of the announcement or pendency of the transactions contemplated by the purchase agreement on BEN’s ability to retain and hire key personnel, its ability to maintain relationships with its customers, suppliers and others with whom it does business, or its operating results and business generally; (vii) risks related to diverting management’s attention from BEN’s ongoing business operations; (viii) uncertainty as to the timing of completion of the Cataneo Acquisition; (ix) risks that the benefits of the Cataneo Acquisition are not realized when and as expected; and (x) (A) the risk factors described in Part I, Item 1A of Risk Factors in BEN’s Annual Report on Form 10-K for the year ended December 31, 2023 and (B) the other risk factors identified from time to time in the BEN’s other filings with the Securities and Exchange Commission (the “SEC”). Filings with the SEC are available on the SEC’s website at http://www.sec.gov.

Many of these circumstances are beyond BEN’s ability to control or predict. These forward-looking statements necessarily involve assumptions on BEN’s part. These forward-looking statements may include words such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “project,” “should,” “may,” “will,” “might,” “could,” “would,” or similar expressions. All forward-looking statements attributable to the Company or persons acting on BEN’s behalf are expressly qualified in their entirety by the cautionary statements that appear throughout this communication. Furthermore, undue reliance should not be placed on forward-looking statements, which are based on the information currently available to the Company and speak only as of the date they are made. BEN disclaims any intention or obligation to update or revise publicly any forward-looking statements.

Media Contact
Amy Rouyer
BEN – Safe, Intelligent, Scalable AI
E: amy@beninc.ai
P: 503-367-7596

Investor Relations
Christine Marchuska
E: ir@beninc.ai
P: 917-232-0852

Source: Brand Engagement Network, Inc. (BEN)

The MIL Network –

January 25, 2025

MIL-OSI: Red River Bancshares, Inc. Reports Third Quarter 2024 Financial Results

Source: GlobeNewswire (MIL-OSI)

ALEXANDRIA, La., Oct. 30, 2024 (GLOBE NEWSWIRE) — Red River Bancshares, Inc. (the “Company”) (Nasdaq: RRBI), the holding company for Red River Bank (the “Bank”), announced today its unaudited financial results for the third quarter of 2024.

Net income for the third quarter of 2024 was $8.8 million, or $1.27 per diluted common share (“EPS”), an increase of $767,000, or 9.6%, compared to $8.0 million, or $1.16 EPS, for the second quarter of 2024, and an increase of $733,000, or 9.1%, compared to $8.0 million, or $1.12 EPS, for the third quarter of 2023. For the third quarter of 2024, the quarterly return on assets was 1.13%, and the quarterly return on equity was 11.11%.

Net income for the nine months ended September 30, 2024, was $24.9 million, or $3.59 EPS, a decrease of $1.7 million, or 6.2%, compared to $26.6 million, or $3.70 EPS, for the nine months ended September 30, 2023. For the nine months ended September 30, 2024, the return on assets was 1.08%, and the return on equity was 10.86%.

Third Quarter 2024 Performance and Operational Highlights

In the third quarter of 2024, the Company reported higher earnings, an improved net interest margin, and fairly consistent loans and deposits. We deployed excess funds into the securities portfolio and completed a significant stock repurchase. In mid-September, the target range of the federal funds rate was reduced by 50 basis points (“bps”).

Net income for the third quarter of 2024 was $8.8 million compared to $8.0 million for the prior quarter. Net income for the third quarter benefited from higher net interest income and an improved net interest margin fully tax equivalent (“FTE”), along with higher noninterest income.
Net interest income and net interest margin FTE increased for the third quarter of 2024 compared to the prior quarter. Net interest income for the third quarter of 2024 was $22.5 million compared to $21.8 million for the prior quarter. Net interest margin FTE for the third quarter of 2024 was 2.98% compared to 2.92% for the prior quarter. These increases were due to improved yields on securities and loans outpacing higher deposit rates.
Noninterest income totaled $5.4 million for the third quarter of 2024, an increase of $321,000, or 6.3%, compared to $5.1 million for the previous quarter. Noninterest income benefited from the receipt of a $151,000 nonrecurring loan fee.
As of September 30, 2024, assets were $3.10 billion, which was $53.2 million, or 1.7%, higher than June 30, 2024. The increase was mainly due to a $30.5 million increase in deposits.
Deposits totaled $2.75 billion as of September 30, 2024, an increase of $30.5 million, or 1.1%, compared to $2.72 billion as of June 30, 2024. In the third quarter of 2024, customer deposit balances remained consistent, with normal activity.
As of September 30, 2024, loans held for investment (“HFI”) were $2.06 billion, slightly higher than $2.05 billion as of June 30, 2024. In the third quarter of 2024, we closed on a high level of loan commitments, which should fund over time.
As of September 30, 2024, total securities were $697.7 million, which was $31.1 million, or 4.7%, higher than June 30, 2024. In the third quarter of 2024, we redeployed cash flows from lower yielding securities into higher yielding securities, as well as deployed other liquid assets into the securities portfolio.
As of September 30, 2024, liquid assets, which are cash and cash equivalents, were $232.6 million, and the liquid assets to assets ratio was 7.50%. We do not have any borrowings, brokered deposits, or internet-sourced deposits.
In the third quarter of 2024, the provision for credit losses totaled $300,000. This included $200,000 for loans and $100,000 for unfunded loan commitments.
As of September 30, 2024, nonperforming assets (“NPA(s)”) were $3.1 million, or 0.10% of assets, and the allowance for credit losses (“ACL”) was $21.8 million, or 1.06% of loans HFI.
We paid a quarterly cash dividend of $0.09 per common share in the third quarter of 2024.
The 2024 stock repurchase program authorizes us to purchase up to $5.0 million of our outstanding shares of common stock from January 1, 2024 through December 31, 2024. In the third quarter of 2024, we entered into a privately negotiated stock repurchase agreement for the repurchase of 60,000 shares at an aggregate cost of $3.0 million. In connection with this repurchase, we reduced the availability under the 2024 repurchase program by $3.0 million. We also repurchased 233 shares at an aggregate cost of $11,000 from the open market. As of September 30, 2024, the 2024 stock repurchase program had $1.2 million remaining.
As of September 30, 2024, capital levels were strong with a stockholders’ equity to assets ratio of 10.46%, a leverage ratio of 11.90%, and a total risk-based capital ratio of 18.07%.
The book value per share of common stock was $47.51 as of September 30, 2024, compared to $44.58 as of June 30, 2024. This improvement was primarily due to the decrease in the accumulated other comprehensive loss related to securities and net income added to stockholders’ equity, partially offset by stock repurchases.

Blake Chatelain, President and Chief Executive Officer, stated, “We are pleased with the financial results for the third quarter of 2024. We managed continued improvement to the net interest margin FTE, higher earnings, solid asset quality, steady loan activity, and continued strong liquidity and capital.

“Throughout the majority of the third quarter, until the Federal Reserve reduced the federal funds rate, we continued to reprice assets at a quicker pace than liabilities, which benefited net interest margin FTE and net interest income. Loan demand continued to be steady in the third quarter, despite some companies possibly placing investment decisions on hold due to the pending presidential election. We did, however, close on a significant amount of construction loan commitments, which should fund over the next year.

“On September 18, 2024, the Federal Reserve reduced the federal funds rate by 50 bps. This marks the conclusion of one of the most aggressive interest rate tightening cycles in many years. The rapid increase in interest rates has been challenging for banks and their customers. A lower interest rate environment should spur loan demand and mortgage loan activity, as well as help moderate accumulated other comprehensive loss in stockholders’ equity related to securities. Overall, the Louisiana economy seems to be faring well, and our customers’ balance sheets and earnings appear solid.

“Our company is well-positioned for the future, with robust capital and liquidity levels combined with a great team of community bankers. As we gain more clarity regarding future interest rates and the presidential election concludes, we remain committed to providing steady financial results for the company.”

Net Interest Income and Net Interest Margin FTE

Net interest income and net interest margin FTE increased in the third quarter of 2024 compared to the prior quarter. These increases were due to improved yields on securities and loans outpacing higher deposit rates. After keeping the federal funds rate consistent since the third quarter of 2023, the Federal Open Market Committee (“FOMC”) decreased the federal funds rate by 50 bps in September of 2024.

Net interest income for the third quarter of 2024 was $22.5 million, which was $670,000, or 3.1%, higher than the second quarter of 2024, due to a $1.2 million increase in interest and dividend income, partially offset by a $550,000 increase in interest expense. The increase in interest and dividend income was due to higher interest income on loans and securities. Loan income increased $1.0 million primarily due to higher rates on new and renewed loans compared to the existing portfolio. The average rate on new and renewed loans was 7.89% for the third quarter of 2024 and 7.98% for the prior quarter. Securities income increased $266,000 due to reinvesting lower yielding securities cash flows into higher yielding securities. The increase in interest expense was primarily due to higher rates on interest-bearing transaction deposits and time deposits.

The net interest margin FTE increased six bps to 2.98% for the third quarter of 2024, compared to 2.92% for the prior quarter. This increase was due to improved yields on securities and loans, partially offset by higher deposit costs. The yield on securities increased 15 bps due to reinvesting lower yielding securities cash flows into higher yielding securities. The yield on loans increased 11 bps due to higher rates on new and renewed loans compared to the existing portfolio. The cost of deposits increased six bps to 1.81% for the third quarter of 2024, compared to 1.75% for the previous quarter, primarily due to a nine bp increase in the rate on interest-bearing deposits during the third quarter, partially offset by our adjustment to certain transaction deposit rates late in the third quarter.

Late in the third quarter of 2024, the target range of the federal funds rate was reduced 50 bps to 4.75%-5.00%. At that time, we adjusted rates on transaction and time deposits, and we expect to continue lowering these rates in conjunction with future federal funds rate decreases. The market’s expectation is that the FOMC will continue lowering the target federal funds rate in the fourth quarter of 2024. During the twelve months ending September 30, 2025, we anticipate receiving approximately $134.0 million in securities cash flows with an average yield of 2.86%, and we project approximately $194.2 million of fixed rate loans will mature with an average yield of 5.95%. We expect to redeploy these balances into higher yielding assets. Additionally, during the twelve months ending September 30, 2025, we expect $558.5 million of time deposits to mature with an average rate of 4.47%, which we anticipate repricing into lower cost deposits. As of September 30, 2024, floating rate loans were 14.9% of loans HFI, and floating rate transaction deposits were 7.2% of interest-bearing transaction deposits. Depending on balance sheet activity and the movement in interest rates, we expect the net interest income and net interest margin FTE to improve slightly in the fourth quarter of 2024.

Provision for Credit Losses

The provision for credit losses for the third quarter of 2024 totaled $300,000, which included $200,000 for loans and $100,000 for unfunded loan commitments. The provision for credit losses in the second quarter was $300,000 for loans. The provision in the second and third quarters was due to potential economic challenges resulting from the recent inflationary environment, changing monetary policy, and loan growth. In the third quarter of 2024, we had an increase in unfunded loan commitments. We will continue to evaluate future provision needs in relation to current economic situations, loan growth, trends in asset quality, forecasted information, and other conditions influencing loss expectations.

Noninterest Income

Noninterest income totaled $5.4 million for the third quarter of 2024, an increase of $321,000, or 6.3%, compared to $5.1 million for the previous quarter. The increase was mainly due to a gain on equity securities and increases in service charges on deposit accounts, loan and deposit income, and brokerage income, partially offset by a decrease in Small Business Investment Company (“SBIC”) income.

Equity securities are an investment in a Community Reinvestment Act (“CRA”) mutual fund consisting primarily of bonds. The gain or loss on equity securities is a fair value adjustment primarily driven by changes in the interest rate environment. Due to the fluctuations in market rates between quarters, equity securities had a gain of $107,000 in the third quarter of 2024, compared to a loss of $13,000 for the previous quarter.

Service charges on deposit accounts totaled $1.5 million for the third quarter of 2024, an increase of $119,000, or 8.7%, compared to $1.4 million for the previous quarter. This increase was mainly due to a larger number of non-sufficient fund transactions and related fee income in the third quarter of 2024.

Loan and deposit income totaled $588,000 for the third quarter of 2024, an increase of $96,000, or 19.5%, compared to $492,000 for the previous quarter. The third quarter of 2024 benefited from the receipt of a $151,000 nonrecurring loan fee.

Brokerage income was $987,000 for the third quarter of 2024, an increase of $94,000, or 10.5%, compared to $893,000 for the previous quarter. The higher income in the third quarter of 2024 was mainly due to increased investing activity by clients. Assets under management were $1.13 billion as of September 30, 2024.

SBIC income for the third quarter of 2024 was $301,000, a decrease of $153,000, or 33.7%, compared to $454,000 for the previous quarter. This decrease was primarily due to lower normal income received from these partnerships in the third quarter. We expect SBIC income to be slightly higher in the fourth quarter of 2024 when compared to the third quarter.

Operating Expenses

Operating expenses totaled $16.8 million for the third quarter of 2024, an increase of $63,000, or 0.4%, compared to $16.7 million for the previous quarter. This increase was mainly due to higher technology expenses and other tax expenses.

Technology expenses totaled $865,000 for the third quarter of 2024, an increase of $141,000, or 19.5%, compared to $724,000 for the previous quarter. This increase was primarily due to continued upgrades to our core banking systems and other software technology enhancements.

Other taxes totaled $622,000 for the third quarter of 2024, an increase of $122,000, or 24.4%, compared to $500,000 for the previous quarter. The second quarter benefited from the reversal of $145,000 of stock repurchase tax expense due to finalized guidelines.

Asset Overview

As of September 30, 2024, assets were $3.10 billion, compared to assets of $3.05 billion as of June 30, 2024, an increase of $53.2 million, or 1.7%. In the third quarter, assets were mainly impacted by a $30.5 million, or 1.1%, increase in deposits. In the third quarter of 2024, liquid assets increased $19.6 million, or 9.2%, to $232.6 million and averaged $224.0 million for the third quarter. As of September 30, 2024, we had sufficient liquid assets available and $1.69 billion accessible from other liquidity sources. The liquid assets to assets ratio was 7.50% as of September 30, 2024. Total securities increased $31.1 million, or 4.7%, to $697.7 million in the third quarter and were 22.5% of assets as of September 30, 2024. During the third quarter, loans HFI increased $8.2 million, or 0.4%, to $2.06 billion. The loans HFI to deposits ratio was 74.84% as of September 30, 2024, compared to 75.38% as of June 30, 2024.

Securities

Total securities as of September 30, 2024, were $697.7 million, an increase of $31.1 million, or 4.7%, from June 30, 2024. Securities increased primarily due to $52.9 million in purchases combined with a $14.9 million reduction in net unrealized loss on securities AFS. This was partially offset by maturities and principal repayments.

The estimated fair value of securities available for sale (“AFS”) totaled $560.6 million, net of $49.5 million of unrealized loss, as of September 30, 2024, compared to $526.9 million, net of $64.4 million of unrealized loss, as of June 30, 2024. As of September 30, 2024, the amortized cost of securities held-to-maturity (“HTM”) totaled $134.1 million compared to $136.8 million as of June 30, 2024. As of September 30, 2024, securities HTM had an unrealized loss of $17.3 million compared to $22.8 million as of June 30, 2024.

As of September 30, 2024, equity securities, which is an investment in a CRA mutual fund consisting primarily of bonds, totaled $3.0 million compared to $2.9 million as of June 30, 2024.

Loans

Loans HFI as of September 30, 2024, were $2.06 billion, slightly higher than $2.05 billion as of June 30, 2024. In the third quarter of 2024, we closed on a high level of loan commitments, which, depending on customer activity, should fund over time. Unfunded loan commitments that originated in the third quarter of 2024 totaled $76.4 million.

Loans HFI by Category
	September 30, 2024			June 30, 2024			Change from June 30, 2024 to September 30, 2024
(dollars in thousands)	Amount		Percent	Amount		Percent	$ Change		% Change
Real estate:
Commercial real estate	$	875,590	42.6%	$	865,645	42.3%	$	9,945	1.1%
One-to-four family residential		616,467	30.0%		611,904	29.9%		4,563	0.7%
Construction and development		141,525	6.9%		129,197	6.3%		12,328	9.5%
Commercial and industrial		327,069	15.9%		344,071	16.8%		(17,002)	(4.9%)
Tax-exempt		66,436	3.2%		67,941	3.3%		(1,505)	(2.2%)
Consumer		28,961	1.4%		29,132	1.4%		(171)	(0.6%)
Total loans HFI	$	2,056,048	100.0%	$	2,047,890	100.0%	$	8,158	0.4%

Commercial real estate (“CRE”) loans are collateralized by owner occupied and non-owner occupied properties mainly in Louisiana. Non-owner occupied office loans were $57.2 million, or 2.8% of loans HFI, as of September 30, 2024, and are primarily centered in low-rise suburban areas. The average CRE loan size was $947,000 as of September 30, 2024.

Health care loans are our largest industry concentration and are made up of a diversified portfolio of health care providers. As of September 30, 2024, total health care loans were 8.0% of loans HFI. Within the health care sector, loans to nursing and residential care facilities were 4.4% of loans HFI, and loans to physician and dental practices were 3.4% of loans HFI. The average health care loan size was $399,000 as of September 30, 2024.

Asset Quality and Allowance for Credit Losses

NPAs totaled $3.1 million as of September 30, 2024, a decrease of $103,000, or 3.2%, from June 30, 2024, primarily due to changes to nonaccrual loans. The ratio of NPAs to assets was 0.10% as of September 30, 2024, and 0.11% as of June 30, 2024.

As of September 30, 2024, the ACL was $21.8 million. The ratio of ACL to loans HFI was 1.06% as of September 30, 2024 and June 30, 2024. The net charge-offs to average loans ratio was 0.00% for the third quarter of 2024 and 0.01% for the second quarter of 2024.

Deposits

As of September 30, 2024, deposits were $2.75 billion, an increase of $30.5 million, or 1.1%, compared to June 30, 2024. Average deposits for the third quarter of 2024 were $2.73 billion, a decrease of $5.6 million, or 0.2%, from the prior quarter. The following tables provide details on our deposit portfolio:

Deposits by Account Type
	September 30, 2024			June 30, 2024			Change from June 30, 2024 to September 30, 2024
(dollars in thousands)	Balance		% of Total	Balance		% of Total	$ Change		% Change
Noninterest-bearing demand deposits	$	882,394	32.1%	$	892,942	32.9%	$	(10,548)	(1.2%)
Interest-bearing deposits:
Interest-bearing demand deposits		163,787	6.0%		135,543	5.0%		28,244	20.8%
NOW accounts		379,566	13.8%		377,385	13.9%		2,181	0.6%
Money market accounts		551,229	20.0%		547,715	20.1%		3,514	0.6%
Savings accounts		166,723	6.1%		170,050	6.3%		(3,327)	(2.0%)
Time deposits less than or equal to $250,000		411,361	15.0%		399,981	14.7%		11,380	2.8%
Time deposits greater than $250,000		192,065	7.0%		193,030	7.1%		(965)	(0.5%)
Total interest-bearing deposits		1,864,731	67.9%		1,823,704	67.1%		41,027	2.2%
Total deposits	$	2,747,125	100.0%	$	2,716,646	100.0%	$	30,479	1.1%

Deposits by Customer Type
	September 30, 2024			June 30, 2024			Change from June 30, 2024 to September 30, 2024
(dollars in thousands)	Balance		% of Total	Balance		% of Total	$ Change		% Change
Consumer	$	1,348,281	49.1%	$	1,351,709	49.8%	$	(3,428)	(0.3%)
Commercial		1,191,625	43.4%		1,149,023	42.3%		42,602	3.7%
Public		207,219	7.5%		215,914	7.9%		(8,695)	(4.0%)
Total deposits	$	2,747,125	100.0%	$	2,716,646	100.0%	$	30,479	1.1%

In the third quarter of 2024, customer deposit balances remained consistent, with normal activity.

The Bank has a granular, diverse deposit portfolio with customers in a variety of industries throughout Louisiana. As of September 30, 2024, the average deposit account size was approximately $27,000.

As of September 30, 2024, our estimated uninsured deposits, which are the portion of deposit accounts that exceed the FDIC insurance limit (currently $250,000), were approximately $832.2 million, or 30.3% of total deposits. This amount was estimated based on the same methodologies and assumptions used for regulatory reporting purposes. Also, as of September 30, 2024, our estimated uninsured deposits, excluding collateralized public entity deposits, were approximately $674.8 million, or 24.6% of total deposits. Our cash and cash equivalents of $232.6 million, combined with our available borrowing capacity of $1.69 billion, equaled 231.3% of our estimated uninsured deposits and 285.2% of our estimated uninsured deposits, excluding collateralized public entity deposits.

Stockholders’ Equity

Total stockholders’ equity as of September 30, 2024, was $324.3 million compared to $307.0 million as of June 30, 2024. The $17.3 million, or 5.6%, increase in stockholders’ equity during the third quarter of 2024 was attributable to a $12.1 million, net of tax, market adjustment to accumulated other comprehensive loss related to securities, $8.8 million of net income, and $92,000 of stock compensation, partially offset by the repurchase of 60,233 shares of common stock for $3.0 million and $615,000 in cash dividends. We paid a quarterly cash dividend of $0.09 per share on September 19, 2024.

Non-GAAP Disclosure

Our accounting and reporting policies conform to United States generally accepted accounting principles (“GAAP”) and the prevailing practices in the banking industry. Certain financial measures used by management to evaluate our operating performance are discussed as supplemental non-GAAP performance measures. In accordance with the Securities and Exchange Commission’s (“SEC”) rules, we classify a financial measure as being a non-GAAP financial measure if that financial measure excludes or includes amounts, or is subject to adjustments that have the effect of excluding or including amounts, that are included or excluded, as the case may be, in the most directly comparable measure calculated and presented in accordance with GAAP as in effect from time to time in the U.S.

Management and the board of directors review tangible book value per share, tangible common equity to tangible assets, and realized book value per share as part of managing operating performance. However, these non-GAAP financial measures should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which we calculate the non-GAAP financial measures that are discussed may differ from that of other companies’ reporting measures with similar names. It is important to understand how such other banking organizations calculate and name their financial measures similar to the non-GAAP financial measures discussed by us when comparing such non-GAAP financial measures.

A reconciliation of non-GAAP financial measures to the comparable GAAP financial measures is included within the following financial statement tables.

About Red River Bancshares, Inc.

Red River Bancshares, Inc. is the bank holding company for Red River Bank, a Louisiana state-chartered bank established in 1999 that provides a fully integrated suite of banking products and services tailored to the needs of commercial and retail customers. Red River Bank operates from a network of 28 banking centers throughout Louisiana and one combined loan and deposit production office in New Orleans, Louisiana. Banking centers are located in the following Louisiana markets: Central, which includes the Alexandria metropolitan statistical area (“MSA”); Northwest, which includes the Shreveport-Bossier City MSA; Capital, which includes the Baton Rouge MSA; Southwest, which includes the Lake Charles MSA; the Northshore, which includes Covington; Acadiana, which includes the Lafayette MSA; and New Orleans.

Forward-Looking Statements

Statements in this news release regarding our expectations and beliefs about our future financial performance and financial condition, as well as trends in our business and markets, are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” “outlook,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” The forward-looking statements in this news release are based on current information and on assumptions that we make about future events and circumstances that are subject to a number of risks and uncertainties that are often difficult to predict and beyond our control. As a result of those risks and uncertainties, our actual financial results in the future could differ, possibly materially, from those expressed in or implied by the forward-looking statements contained in this news release and could cause us to make changes to our future plans. Additional information regarding these and other risks and uncertainties to which our business and future financial performance are subject is contained in the section titled “Risk Factors” in our most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q, and in other documents that we file with the SEC from time to time. In addition, our actual financial results in the future may differ from those currently expected due to additional risks and uncertainties of which we are not currently aware or which we do not currently view as, but in the future may become, material to our business or operating results. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this news release or to make predictions based solely on historical financial performance. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, express or implied, included in this news release are qualified in their entirety by this cautionary statement.

Contact:
Isabel V. Carriere, CPA, CGMA
Executive Vice President, Chief Financial Officer, and Assistant Corporate Secretary
318-561-4023
icarriere@redriverbank.net

FINANCIAL HIGHLIGHTS (UNAUDITED)

	As of and for the Three Months Ended						As of and for the Nine Months Ended
(dollars in thousands, except per share data)	September 30, 2024		June 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Net Income	$	8,754	$	7,987	$	8,021	$	24,929	$	26,587

Per Common Share Data:
Earnings per share, basic	$	1.28	$	1.16	$	1.12	$	3.60	$	3.70
Earnings per share, diluted	$	1.27	$	1.16	$	1.12	$	3.59	$	3.70
Book value per share	$	47.51	$	44.58	$	39.43	$	47.51	$	39.43
Tangible book value per share ⁽¹⁾	$	47.28	$	44.35	$	39.21	$	47.28	$	39.21
Realized book value per share ⁽¹⁾	$	54.78	$	53.54	$	50.27	$	54.78	$	50.27
Cash dividends per share	$	0.09	$	0.09	$	0.08	$	0.27	$	0.24
Shares outstanding		6,826,120		6,886,928		7,150,685		6,826,120		7,150,685
Weighted average shares outstanding, basic		6,851,223		6,896,030		7,168,413		6,932,137		7,176,219
Weighted average shares outstanding, diluted		6,867,474		6,914,140		7,180,084		6,949,196		7,188,371

Summary Performance Ratios:
Return on average assets		1.13%		1.05%		1.05%		1.08%		1.18%
Return on average equity		11.11%		10.69%		11.15%		10.86%		12.71%
Net interest margin		2.93%		2.87%		2.74%		2.87%		2.91%
Net interest margin FTE		2.98%		2.92%		2.78%		2.92%		2.94%
Efficiency ratio		60.09%		62.07%		61.70%		60.84%		59.02%
Loans HFI to deposits ratio		74.84%		75.38%		70.60%		74.84%		70.60%
Noninterest-bearing deposits to deposits ratio		32.12%		32.87%		35.22%		32.12%		35.22%
Noninterest income to average assets		0.70%		0.67%		0.73%		0.67%		0.71%
Operating expense to average assets		2.17%		2.19%		2.13%		2.14%		2.12%

Summary Credit Quality Ratios:
NPAs to assets		0.10%		0.11%		0.07%		0.10%		0.07%
Nonperforming loans to loans HFI		0.15%		0.16%		0.10%		0.15%		0.10%
ACL to loans HFI		1.06%		1.06%		1.09%		1.06%		1.09%
Net charge-offs to average loans		0.00%		0.01%		0.00%		0.02%		0.01%

Capital Ratios:
Stockholders’ equity to assets		10.46%		10.07%		9.20%		10.46%		9.20%
Tangible common equity to tangible assets⁽¹⁾		10.41%		10.02%		9.15%		10.41%		9.15%
Total risk-based capital to risk-weighted assets		18.07%		18.01%		18.35%		18.07%		18.35%
Tier 1 risk-based capital to risk-weighted assets		17.05%		16.99%		17.31%		17.05%		17.31%
Common equity Tier 1 capital to risk-weighted assets		17.05%		16.99%		17.31%		17.05%		17.31%
Tier 1 risk-based capital to average assets		11.90%		11.74%		11.56%		11.90%		11.56%

^{(1) Non-GAAP financial measure. Calculations of this measure and reconciliations to GAAP are included in the schedules accompanying this release.}

RED RIVER BANCSHARES, INC.
CONSOLIDATED BALANCE SHEETS (UNAUDITED)

(in thousands)	September 30, 2024		June 30, 2024		March 31, 2024		December 31, 2023		September 30, 2023
ASSETS
Cash and due from banks	$	39,664	$	35,035	$	19,401	$	53,062	$	42,413
Interest-bearing deposits in other banks		192,983		178,038		210,404		252,364		279,786
Securities available-for-sale, at fair value		560,555		526,890		545,967		570,092		529,046
Securities held-to-maturity, at amortized cost		134,145		136,824		139,328		141,236		143,420
Equity securities, at fair value		3,028		2,921		2,934		2,965		2,833
Nonmarketable equity securities		2,305		2,283		2,261		2,239		2,190
Loans held for sale		1,805		3,878		1,653		1,306		2,348
Loans held for investment		2,056,048		2,047,890		2,038,072		1,992,858		1,948,606
Allowance for credit losses		(21,757)		(21,627)		(21,564)		(21,336)		(21,183)
Premises and equipment, net		57,661		57,910		57,539		57,088		56,466
Accrued interest receivable		9,465		9,570		9,995		9,945		8,778
Bank-owned life insurance		30,164		29,947		29,731		29,529		29,332
Intangible assets		1,546		1,546		1,546		1,546		1,546
Right-of-use assets		2,853		2,973		3,091		3,629		3,757
Other assets		31,285		34,450		32,940		32,287		36,815
Total Assets	$	3,101,750	$	3,048,528	$	3,073,298	$	3,128,810	$	3,066,153

LIABILITIES
Noninterest-bearing deposits	$	882,394	$	892,942	$	895,439	$	916,456	$	972,155
Interest-bearing deposits		1,864,731		1,823,704		1,850,452		1,885,432		1,787,738
Total Deposits		2,747,125		2,716,646		2,745,891		2,801,888		2,759,893
Accrued interest payable		11,751		8,747		8,959		8,000		6,800
Lease liabilities		2,982		3,100		3,215		3,767		3,892
Accrued expenses and other liabilities		15,574		13,045		15,919		11,304		13,617
Total Liabilities		2,777,432		2,741,538		2,773,984		2,824,959		2,784,202
COMMITMENTS AND CONTINGENCIES		—		—		—		—		—
STOCKHOLDERS’ EQUITY
Preferred stock, no par value		—		—		—		—		—
Common stock, no par value		41,402		44,413		45,177		55,136		58,031
Additional paid-in capital		2,682		2,590		2,485		2,407		2,327
Retained earnings		329,858		321,719		314,352		306,802		299,079
Accumulated other comprehensive income (loss)		(49,624)		(61,732)		(62,700)		(60,494)		(77,486)
Total Stockholders’ Equity		324,318		306,990		299,314		303,851		281,951
Total Liabilities and Stockholders’ Equity	$	3,101,750	$	3,048,528	$	3,073,298	$	3,128,810	$	3,066,153

RED RIVER BANCSHARES, INC.
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

	For the Three Months Ended						For the Nine Months Ended
(in thousands)	September 30, 2024		June 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
INTEREST AND DIVIDEND INCOME
Interest and fees on loans	$	27,909	$	26,882	$	23,925	$	80,684	$	68,541
Interest on securities		4,334		4,068		3,404		12,465		10,635
Interest on federal funds sold		—		—		—		—		886
Interest on deposits in other banks		2,630		2,709		2,950		8,378		6,359
Dividends on stock		28		22		45		73		106
Total Interest and Dividend Income		34,901		33,681		30,324		101,600		86,527
INTEREST EXPENSE
Interest on deposits		12,444		11,894		9,562		35,993		21,319
Interest on other borrowed funds		—		—		37		—		64
Total Interest Expense		12,444		11,894		9,599		35,993		21,383
Net Interest Income		22,457		21,787		20,725		65,607		65,144
Provision for credit losses		300		300		185		900		485
Net Interest Income After Provision for Credit Losses		22,157		21,487		20,540		64,707		64,659
NONINTEREST INCOME
Service charges on deposit accounts		1,486		1,367		1,489		4,223		4,317
Debit card income, net		905		949		830		2,875		2,687
Mortgage loan income		732		650		604		1,838		1,524
Brokerage income		987		893		1,029		2,867		2,759
Loan and deposit income		588		492		571		1,572		1,566
Bank-owned life insurance income		217		216		191		635		557
Gain (Loss) on equity securities		107		(13)		(113)		63		(145)
SBIC income		301		454		920		1,107		2,479
Other income (loss)		96		90		60		266		184
Total Noninterest Income		5,419		5,098		5,581		15,446		15,928
OPERATING EXPENSES
Personnel expenses		9,700		9,603		9,461		28,854		28,008
Occupancy and equipment expenses		1,661		1,698		1,663		4,975		4,933
Technology expenses		865		724		675		2,298		2,066
Advertising		317		408		331		1,061		955
Other business development expenses		521		593		522		1,589		1,451
Data processing expense		652		651		651		1,650		1,689
Other taxes		622		500		664		1,859		2,042
Loan and deposit expenses		294		309		238		561		728
Legal and professional expenses		653		729		616		2,000		1,714
Regulatory assessment expenses		421		401		419		1,226		1,223
Other operating expenses		1,046		1,073		990		3,241		3,041
Total Operating Expenses		16,752		16,689		16,230		49,314		47,850
Income Before Income Tax Expense		10,824		9,896		9,891		30,839		32,737
Income tax expense		2,070		1,909		1,870		5,910		6,150
Net Income	$	8,754	$	7,987	$	8,021	$	24,929	$	26,587

RED RIVER BANCSHARES, INC.
NET INTEREST INCOME AND NET INTEREST MARGIN (UNAUDITED)

	For the Three Months Ended
	September 30, 2024					June 30, 2024
(dollars in thousands)	Average Balance Outstanding		Interest Income/ Expense		Average Yield/ Rate	Average Balance Outstanding		Interest Income/ Expense		Average Yield/ Rate
Assets
Interest-earning assets:
Loans^(1,2)	$	2,054,451	$	27,909	5.32%	$	2,042,602	$	26,882	5.21%
Securities – taxable		545,171		3,344	2.45%		546,466		3,069	2.25%
Securities – tax-exempt		191,285		990	2.07%		193,954		999	2.06%
Interest-bearing deposits in other banks		194,229		2,630	5.36%		199,668		2,709	5.43%
Nonmarketable equity securities		2,284		28	4.85%		2,262		22	3.96%
Total interest-earning assets		2,987,420	$	34,901	4.59%		2,984,952	$	33,681	4.48%
Allowance for credit losses		(21,702)					(21,653)
Noninterest-earning assets		104,599					96,631
Total assets	$	3,070,317				$	3,059,930
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Interest-bearing transaction deposits	$	1,230,487	$	6,042	1.95%	$	1,230,474	$	5,701	1.86%
Time deposits		597,286		6,402	4.26%		595,120		6,193	4.19%
Total interest-bearing deposits		1,827,773		12,444	2.71%		1,825,594		11,894	2.62%
Other borrowings		—		—	—%		1		—	5.78%
Total interest-bearing liabilities		1,827,773	$	12,444	2.71%		1,825,595	$	11,894	2.62%
Noninterest-bearing liabilities:
Noninterest-bearing deposits		901,192					908,930
Accrued interest and other liabilities		28,006					24,868
Total noninterest-bearing liabilities		929,198					933,798
Stockholders’ equity		313,346					300,537
Total liabilities and stockholders’ equity	$	3,070,317				$	3,059,930
Net interest income			$	22,457				$	21,787
Net interest spread					1.88%					1.86%
Net interest margin					2.93%					2.87%
Net interest margin FTE⁽³⁾					2.98%					2.92%
Cost of deposits					1.81%					1.75%
Cost of funds					1.66%					1.60%

^{(1)  Includes average outstanding balances of loans held for sale of $3.0 million and $3.2 million for the three months ended September 30, 2024 and June 30, 2024, respectively.}
^{(2)  Nonaccrual loans are included as loans carrying a zero yield.}
^{(3)  Net interest margin FTE includes an FTE adjustment using a 21.0% federal income tax rate on tax-exempt securities and tax-exempt loans.}

RED RIVER BANCSHARES, INC.
NET INTEREST INCOME AND NET INTEREST MARGIN (UNAUDITED)

	For the Nine Months Ended
	September 30, 2024					September 30, 2023
(dollars in thousands)	Average Balance Outstanding		Interest Income/ Expense		Average Yield/ Rate	Average Balance Outstanding		Interest Income/ Expense		Average Yield/ Rate
Assets
Interest-earning assets:
Loans^(1,2)	$	2,037,435	$	80,684	5.21%	$	1,933,226	$	68,541	4.68%
Securities – taxable		553,714		9,461	2.28%		618,345		7,535	1.63%
Securities – tax-exempt		194,341		3,004	2.06%		203,748		3,100	2.03%
Federal funds sold		—		—	—%		24,861		886	4.70%
Interest-bearing deposits in other banks		206,023		8,378	5.40%		167,210		6,359	5.05%
Nonmarketable equity securities		2,262		73	4.27%		3,744		106	3.76%
Total interest-earning assets		2,993,775	$	101,600	4.47%		2,951,134	$	86,527	3.88%
Allowance for credit losses		(21,586)					(20,920)
Noninterest-earning assets		100,586					88,527
Total assets	$	3,072,775				$	3,018,741
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Interest-bearing transaction deposits	$	1,240,737	$	17,424	1.88%	$	1,259,198	$	12,126	1.29%
Time deposits		591,771		18,569	4.19%		441,442		9,193	2.78%
Total interest-bearing deposits		1,832,508		35,993	2.62%		1,700,640		21,319	1.68%
Other borrowings		—		—	—%		1,539		64	5.49%
Total interest-bearing liabilities		1,832,508	$	35,993	2.62%		1,702,179	$	21,383	1.68%
Noninterest-bearing liabilities:
Noninterest-bearing deposits		907,722					1,016,034
Accrued interest and other liabilities		25,983					20,951
Total noninterest-bearing liabilities		933,705					1,036,985
Stockholders’ equity		306,562					279,577
Total liabilities and stockholders’ equity	$	3,072,775				$	3,018,741
Net interest income			$	65,607				$	65,144
Net interest spread					1.85%					2.20%
Net interest margin					2.87%					2.91%
Net interest margin FTE⁽³⁾					2.92%					2.94%
Cost of deposits					1.75%					1.05%
Cost of funds					1.61%					0.97%

^{(1)  Includes average outstanding balances of loans held for sale of $2.7 million and $2.5 million for the nine months ended September 30, 2024 and 2023, respectively.}
^{(2)  Nonaccrual loans are included as loans carrying a zero yield.}
^{(3)  Net interest margin FTE includes an FTE adjustment using a 21.0% federal income tax rate on tax-exempt securities and tax-exempt loans.}

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED)

(dollars in thousands, except per share data)	September 30, 2024		June 30, 2024		September 30, 2023
Tangible common equity
Total stockholders’ equity	$	324,318	$	306,990	$	281,951
Adjustments:
Intangible assets		(1,546)		(1,546)		(1,546)
Total tangible common equity (non-GAAP)	$	322,772	$	305,444	$	280,405
Realized common equity
Total stockholders’ equity	$	324,318	$	306,990	$	281,951
Adjustments:
Accumulated other comprehensive (income) loss		49,624		61,732		77,486
Total realized common equity (non-GAAP)	$	373,942	$	368,722	$	359,437
Common shares outstanding		6,826,120		6,886,928		7,150,685
Book value per share	$	47.51	$	44.58	$	39.43
Tangible book value per share (non-GAAP)	$	47.28	$	44.35	$	39.21
Realized book value per share (non-GAAP)	$	54.78	$	53.54	$	50.27

Tangible assets
Total assets	$	3,101,750	$	3,048,528	$	3,066,153
Adjustments:
Intangible assets		(1,546)		(1,546)		(1,546)
Total tangible assets (non-GAAP)	$	3,100,204	$	3,046,982	$	3,064,607
Total stockholders’ equity to assets		10.46%		10.07%		9.20%
Tangible common equity to tangible assets (non-GAAP)		10.41%		10.02%		9.15%

The MIL Network –

January 25, 2025

MIL-OSI: Banzai to Host Third Quarter 2024 Results Conference Call on Thursday, November 14, 2024 at 5:30 p.m. Eastern Time

Source: GlobeNewswire (MIL-OSI)

SEATTLE, Oct. 30, 2024 (GLOBE NEWSWIRE) — Banzai International, Inc. (NASDAQ: BNZI) (“Banzai” or the “Company”), a leading marketing technology company that provides essential marketing and sales solutions, will hold a conference call on Thursday, November 14, 2024 at 5:30 p.m. Eastern time to discuss its results for the third quarter ended September 30, 2024, and will be reviewing expanding partnerships, and recent debt payoff and restructuring agreements. A press release detailing these results will be issued prior to the call.

Banzai Founder & CEO Joe Davy and Interim CFO Alvin Yip will host the conference call, followed by a question-and-answer session. The conference call will be accompanied by a presentation, which can be viewed during the webcast or accessed via the investor relations section of the Company’s website here.

To access the call, please use the following information:

Date:	Thursday, November 14, 2024
Time:	5:30 p.m. Eastern Time, 2:30 p.m. Pacific Time
Toll-free dial-in number:	1-877-425-9470
International dial-in number:	1-201-389-0878
Conference ID:	13749747

Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact MZ Group at 1-949-491-8235.

The conference call will be broadcast live and available for replay at https://viavid.webcasts.com/starthere.jsp?ei=1694251&tp_key=65eec38e9b and via the investor relations section of the Company’s website here.

A replay of the webcast will be available after 9:30 p.m. Eastern Time through February 14, 2025.

Toll-free replay number:	1-844-512-2921
International replay number:	1-412-317-6671
Replay ID:	13749747

About Banzai

Banzai is a marketing technology company that provides essential marketing and sales solutions for businesses of all sizes. On a mission to help their customers achieve their mission, Banzai enables companies of all sizes to target, engage, and measure both new and existing customers more effectively. Banzai customers include Square, Hewlett Packard Enterprise, Thermo Fisher Scientific, Thinkific, Doodle and ActiveCampaign, among thousands of others. Learn more at www.banzai.io. For investors, please visit https://ir.banzai.io/.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often use words such as “believe,” “may,” “will,” “estimate,” “target,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “propose,” “plan,” “project,” “forecast,” “predict,” “potential,” “seek,” “future,” “outlook,” and similar variations and expressions. Forward-looking statements are those that do not relate strictly to historical or current facts. Examples of forward-looking statements may include, among others, statements regarding Banzai International, Inc.’s (the “Company’s”): future financial, business and operating performance and goals; annualized recurring revenue and customer retention; ongoing, future or ability to maintain or improve its financial position, cash flows, and liquidity and its expected financial needs; potential financing and ability to obtain financing; acquisition strategy and proposed acquisitions and, if completed, their potential success and financial contributions; strategy and strategic goals, including being able to capitalize on opportunities; expectations relating to the Company’s industry, outlook and market trends; total addressable market and serviceable addressable market and related projections; plans, strategies and expectations for retaining existing or acquiring new customers, increasing revenue and executing growth initiatives; and product areas of focus and additional products that may be sold in the future. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements. Therefore, investors should not rely on any of these forward-looking statements. Factors that may cause actual results to differ materially include changes in the markets in which the Company operates, customer demand, the financial markets, economic, business and regulatory and other factors, such as the Company’s ability to execute on its strategy. More detailed information about risk factors can be found in the Company’s Annual Report on Form 10-K and the Company’s Quarterly Reports on Form 10-Q under the heading “Risk Factors,” and in other reports filed by the Company, including reports on Form 8-K. The Company does not undertake any duty to update forward-looking statements after the date of this press release.

Investor Relations
Chris Tyson
Executive Vice President
MZ Group – MZ North America
949-491-8235
BNZI@mzgroup.us
www.mzgroup.us

Media
Rachel Meyrowitz
Director, Demand Generation, Banzai
media@banzai.io

The MIL Network –

January 25, 2025

MIL-OSI: Bitget Announces the Listing of Act I: The AI Prophecy (ACT) in AI & Meme Zone with Airdrops in Rewards

Source: GlobeNewswire (MIL-OSI)

VICTORIA, Seychelles, Oct. 30, 2024 (GLOBE NEWSWIRE) — Bitget, the world’s leading crypto exchange and Web3 company, has listed Act I: The AI Prophecy (ACT) in its Innovation, AI, and Meme Zone, enhancing access to this cutting-edge AI-driven project. The listing is now live with trading available under the ACT/USDT pair, allowing users to engage with ACT through various market activities, including deposits, trading, and a unique airdrop promotion.

The promotional event, CandyBomb, offers Bitget users the chance to earn ACT through deposits and trading activity. A total of 1,388,888 ACT tokens have been allocated for this campaign, which runs from 29 October to 5 November 2024. Participants can join the CandyBomb page, where valid deposit and trading activity will automatically count toward the ACT airdrop, divided into net deposits and spot trading pools. The first 833,333 ACT will be distributed based on net deposits, while new spot traders will have exclusive access to the remaining 555,555 ACT, providing a significant incentive for both experienced and new traders alike.

As an innovative project, Act I: The AI Prophecy is reshaping the interaction paradigm within artificial intelligence, aiming to break away from traditional user-assistant interactions. Instead, ACT envisions an egalitarian digital space where both users and bots interact as equals, exploring more collaborative and integrated AI interactions. Built on the Solana blockchain, ACT provides a streamlined user experience with scalable infrastructure, inviting more extensive engagement in the rapidly expanding AI MEME ecosystem.

This listing positions ACT within Bitget’s expanding portfolio of AI and meme-focused projects, underlining the platform’s commitment to offering users access to the most forward-looking digital assets. As ACT gains traction in both centralized and decentralized trading venues, this listing on Bitget will allow a broader audience to participate in its ecosystem, aligned with the rising interest in AI-powered crypto assets. With a vibrant community and strong online engagement, ACT presents an opportunity for users interested in emerging AI trends in the blockchain space.

Bitget has consistently expanded its market share in both spot and derivatives trading among centralized exchanges. With a focus on providing users with opportunities to invest in popular and valuable projects, the platform is now one of the top 10 crypto spot trading platforms with over 800 coins and over 900 pairs, including tokens from ecosystems such as Ethereum, Solana, Base, and more recently TON.

For more information on ACT on Bitget Spot, please visit here.

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, Bitget is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
For media inquiries, please contact: media@bitget.com

Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8bb88e9e-8f39-426a-bc37-f14cba8c75bb

The MIL Network –

January 25, 2025
MIL-OSI: Wearable Devices and TCL’s RayNeo Join Forces to Bring the Future of Neural Controller Wristband to AR Glasses Market Significantly Ahead of Meta

Source: GlobeNewswire (MIL-OSI)

YOKNEAM ILLIT, ISRAEL, Oct. 30, 2024 (GLOBE NEWSWIRE) — Wearable Devices Ltd. (the “Company” or “Wearable Devices”) (Nasdaq: WLDS, WLDSW), a technology growth company specializing in artificial intelligence (“AI”)-powered touchless sensing wearables, announces an innovative collaboration with TCL-RayNeo™ (“RayNeo”), a leader in augmented reality (“AR”) technology, aiming at bringing mass-market neural interface wristband for AR glasses to life now.

Both parties will be showcasing how neural interface wristband can be seamlessly integrated into AR devices, enhancing user experience by enabling hands-free, gesture-based interactions in augmented and mixed reality environments. This collaboration, previously announced earlier this month, highlights a groundbreaking leap towards more immersive, intuitive user experiences with the objective of being available as soon as next year. For comparison, Meta announced last month its entrance into the gesture control space and presented its neural wristband as a ‘Purposeful Product Prototype’ for smart glasses. RayNeo is known for its innovations in AR, developing cutting-edge AR glasses that enhance immersive experiences by overlaying digital content in the real world. By integrating RayNeo’s AR glasses with Wearable Devices’ neural gesture control technology, users can experience a truly hands-free interaction, elevating the immersive experience to new heights.

“Our collaboration with RayNeo signals a thrilling new chapter in neural gesture technology,” said Asher Dahan, Chief Executive Officer of Wearable Devices. “Our breakthrough Mudra Band and Mudra Link technology is redefining how users interact in mixed reality, offering more natural and instinctive control. Together with RayNeo, we’re creating immersive experiences that feel almost magical, as if technology has become an extension of oneself.”

“Collaborating with Wearable Devices represents a significant leap forward in the future of AR technology,” said Howie Li, Chief Executive Officer of RayNeo. “By combining RayNeo’s advanced AR glasses with the cutting-edge neural interface technology from Wearable Devices, we are committed to providing innovative solutions that empower users and transform everyday experiences. We believe this collaboration will lead to a new era of smart, intuitive, and immersive wearable experiences.”

This collaboration highlights the potential for future innovations in the extended reality (“XR”) market. The combination of RayNeo’s advanced AR hardware and Wearable Devices’ neural input technology creates exciting possibilities for the next generation of smart wearables, offering seamless and touchless control across various applications. The details of the full terms of this collaboration are subject to negotiation and execution of definitive agreements.

About Wearable Devices Ltd.

Wearable Devices Ltd. is a growth company developing AI-based neural input interface technology for the B2C and B2B markets. The Company’s flagship product, the Mudra Band for Apple Watch, integrates innovative AI-based technology and algorithms into a functional, stylish wristband that utilizes proprietary sensors to identify subtle finger and wrist movements allowing the user to “touchlessly” interact with connected devices. The Company also markets a B2B product, which utilizes the same technology and functions as the Mudra Band and is available to businesses on a licensing basis. Wearable Devices Is committed to creating disruptive, industry leading technology that leverages AI and proprietary algorithms, software, and hardware to set the input standard for the Extended Reality, one of the most rapidly expanding landscapes in the tech industry. The Company’s ordinary shares and warrants trade on the Nasdaq market under the symbols “WLDS” and “WLDSW”, respectively.

About RayNeo™

RayNeo™, incubated by TCL Electronics (1070.HK), is an industry leader in consumer-grade AR innovation, developing some of the world’s most revolutionary AR consumer hardware, software and applications. RayNeo specializes in the research and development of AR technologies with industry-leading optics, display, algorithm and device manufacturing.

Established in 2021, RayNeo has launched the world’s first full-color Micro-LED optical waveguide AR glasses, achieving several technology breakthroughs in the industry. Alongside winning the “Best Connected Consumer Device” at MWC’s Global Mobile Awards (GLOMO) 2023 with NXTWEAR S, RayNeo also developed the innovation consumer XR wearable glasses, RayNeo Air 2, featuring top-tier, cinematic audiovisual experiences with ultimate comfort. For more information, please visit: https://www.rayneo.com/

Forward-Looking Statement Disclaimer

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, 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 our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when we discuss benefits and advantages of our technology and solutions and those of RayNeo, our expectation that this collaboration will lead to a new era of smart, intuitive, and immersive wearable experiences and the availability of the technology to users. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. The Company may not enter into or complete any definitive agreement for the proposed collaboration or, even if it does, such collaboration may not achieve the intended benefits. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the full terms of the contemplated collaboration which are subject to negotiation and execution of definitive agreements; the trading of our ordinary shares or warrants and the development of a liquid trading market; our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2023, filed on March 15, 2024 and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Investor Relations Contact

Walter Frank
IMS Investor Relations
203.972.9200
wearabledevices@imsinvestorrelations.com

The MIL Network –

January 25, 2025
MIL-OSI Economics: Samsung and Designer LaQuan Smith Offer Students an Inside Look at the Fashion Industry

Source: Samsung

Following their collaboration on the Lucid Dream sleepwear line unveiled at New York Fashion Week, Samsung extended its partnership with fashion icon LaQuan Smith, highlighting the connection between cutting-edge technology and fashion, and Samsung’s commitment to inspiring people to pursue their creative passions.
In support of that goal, Samsung hosted three of LaQuan’s mentees, who are part of a program designed to uplift the next generation of designers. These up-and-coming fashion students took an exclusive tour of LaQuan’s studio and enjoyed insider access to the prestigious CFDA Fashion Awards. The night was filled with uplifting messages aimed at the next generation of fashion industry leaders, and a recognition that mentorship is key to their success.

We’ve equipped these future designers and creatives with the Galaxy Z Flip6, Galaxy Tab S10 Ultra, and Galaxy Ring to have all the tools on hand whenever inspiration strikes, from the classroom to the streets of the city. These devices offer groundbreaking experiences, whether they’re looking to create content while wearing their latest look, mock-up a design using their S Pen, research fashion trends while on social media with Circle to Search, or ensure they receive a good night’s rest after a long day.
LaQuan Provides a Sneak Peak of His Designs

LaQuan invited his mentees to tour his studio and get an early look at the outfits he designed for Victoria Monét and Teyana Taylor’s appearance at the 2024 CFDA Fashion Awards.

Highlights from the CFDA Fashion Awards
Each year, the CFDA Fashion Awards honor the best in American design and feature some of the most talked about outfits of the year. Recently, LaQuan dressed Khloe Kardashian and Lenny Kravitz for the CFDA awards — and in 2022 he was nominated for American Womenswear Designer of the Year. Samsung and LaQuan hosted his mentees so they could experience the event firsthand, learn from fashion icons, and see how creative design was intentionally woven throughout the entire evening — from the clothes to the décor, to the meticulous run of show. The awards featured stunning outfits, and exciting victories by some of the most influential figures in the industry.

MIL OSI Economics –

January 25, 2025
MIL-OSI China: Pakistan condemns Israeli ban on UNRWA operations

Source: China State Council Information Office

Pakistan strongly condemned the latest Israeli attempt to dismantle the operations of the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), said a statement from the Ministry of Foreign Affairs on Tuesday evening.

The ministry said that the latest step is yet another violation of international law and the UN Charter by Israel.

“Preventing UNRWA from carrying out its vital tasks is a manifestation of Israel’s systematic campaign to deny the much-needed humanitarian aid to the Palestinian people,” added the ministry.

According to the ministry, Pakistan urged the international community, particularly the United Nations Security Council, to hold Israel accountable and to protect UNRWA’s work under UN General Assembly Resolution 302 (IV) of 1949.

The statement emphasized that Israel’s actions represent a calculated effort to deny essential aid to the Palestinian population, especially those in Gaza.

In light of the humanitarian crisis, Pakistan also reiterated its call for an immediate and unconditional ceasefire in Gaza and for uninterrupted humanitarian assistance to relieve the suffering of people.

Earlier on Monday, the Israeli parliament, the Knesset, passed a law prohibiting the UNRWA from operating in Israel.

Israel’s state-owned Kan TV News reported that the new law, which received support from 92 out of 120 parliament members, passed despite opposition from the United States and several European countries.

The law stipulates that the UNRWA will not operate any representation, provide services, or conduct any activities, directly or indirectly, within Israeli territory.

MIL OSI China News –

January 25, 2025
MIL-OSI China: Postal voting begins for Sri Lanka’s parliamentary election

Source: China State Council Information Office

Postal voting for Sri Lanka’s upcoming parliamentary election on Nov. 14 began Wednesday across polling centers nationwide.

The Election Commission announced that postal voting would be held at designated government institutions, including police stations, district secretariats and district election offices.

The Election Commission added that postal voting would continue on Nov. 1 and Nov. 4.

Sri Lanka only allows postal voting for government employees. According to Election Commission Chairman Ratnayake, the commission received 759,210 applications for postal voting, with 20,551 applications rejected.

MIL OSI China News –

January 25, 2025
MIL-OSI China: 2 hospitalized after ‘significant fire’ in British nuclear sub shipyard

Source: China State Council Information Office

Two people were taken to hospital after a “significant fire” broke out on Wednesday at the BAE Systems nuclear submarine shipyard in northwestern England, police said.

Local police said there was “no nuclear risk” and two people were sent to hospital after suffering suspected smoke inhalation.

Images circulating on social media showed large flames and thick smoke coming from a tall white building, purportedly at the shipyard.

Emergency services were called at about 0044 GMT to the site, located in the coast city of Barrow-in-Furness, where Britain’s nuclear submarines are built.

Local residents are being advised to remain inside with their doors and windows closed while the incident is ongoing, said police.

The craft that have been built here include the four Vanguard Class submarines that make up Britain’s Trident nuclear program, according to the BBC.

Four new nuclear submarines from the Dreadnought Class and the last of the Royal Navy’s seven new nuclear-powered submarines, part of the Astute Class, are also being built at the site.

MIL OSI China News –

January 25, 2025
MIL-OSI Russia: Tatyana Golikova: More than 30 thousand primary healthcare facilities will be modernized in 2025–2030

Translation. Region: Russian Federation –

Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

Tatyana Golikova at the plenary session “From N.A. Semashko to the present day”

October 30, 2024

Tatyana Golikova at the plenary session “From N.A. Semashko to the present day”

October 30, 2024

Tatyana Golikova at the plenary session “From N.A. Semashko to the present day”

October 30, 2024

Tatyana Golikova at the plenary session “From N.A. Semashko to the present day”

October 30, 2024

Tatyana Golikova at the plenary session “From N.A. Semashko to the present day”

October 30, 2024

Russian President Vladimir Putin opened the plenary session of the 3rd National Congress with International Participation “National Healthcare”

October 30, 2024

At the end of the plenary session, the winners of the All-Russian competition of young leaders – healthcare organizers were awarded

October 30, 2024

Previous news Next news

Tatyana Golikova at the plenary session “From N.A. Semashko to the present day”

The central event of the third national congress with international participation “National Healthcare” took place in the Great Hall of the State Kremlin Palace – the plenary session “From N.A. Semashko to the Present Day”, dedicated to the 150th anniversary of the birth of the outstanding scientist and physician.

The plenary session of the third national congress with international participation “National Healthcare” was opened by the President of the Russian Federation Vladimir Putin.

The moderator of the plenary session was Deputy Prime Minister Tatyana Golikova. The event was attended by Minister of Health Mikhail Murashko, Minister of Science and Higher Education Valery Falkov, Head of the Federal Service for Surveillance on Consumer Rights Protection and Human Wellbeing Anna Popova, Governor of the Orenburg Region Denis Pasler, and TV presenter of the Russia 24 TV channel Alexandra Suvorova.

The plenary session included a discussion of key areas of development and achievements of the Russian healthcare system through the prism of the merits of the outstanding Soviet healthcare organizer N.A. Semashko: development of human health; accessibility of medical care regardless of place of residence; unity of prevention and treatment; public involvement in the implementation of state policy in the field of healthcare; ensuring sanitary well-being; healthcare management from a scientific point of view; provision of affordable healthy food for everyone and modern affordable medical products.

“The peculiarity of this congress was its dedication to one of the significant organizers, the first People’s Commissar of Health Nikolai Aleksandrovich Semashko, who laid the foundations of the world’s first state health care system and formed a hierarchical state centralized model with a district principle of providing primary health care, which was subsequently implemented in many countries of the world – Great Britain, Norway, France, Sweden, Denmark, Italy and others. We carried the main principles of Semashko’s system through the years and laid them at the foundation of our Russian health care system,” emphasized Tatyana Golikova.

The state character of the Russian healthcare system, its free nature and accessibility for citizens, has been preserved.

“Every year, the state’s expenses on paying for medical care alone increase and by the end of 2023 amounted to 4 trillion rubles. Over the past five years, compared to 2018, expenses on paying for medical care have increased by 1.5 trillion rubles. And by the end of 2024, such expenses are preliminarily estimated at 4.5 trillion rubles,” the Deputy Prime Minister said.

Currently, medical care is provided by 7 thousand state and municipal medical organizations, including more than 300 federal ones.

The federal law “On the Fundamentals of Health Protection of Citizens in the Russian Federation” establishes an approach to the formation of human health from birth and throughout the entire period of his life.

The entire population of our country is attached to medical organizations. And at least 118 million people use their capabilities annually, including almost 31 million children. Medical organizations annually perform more than 1 billion cases of medical care.

As Tatyana Golikova noted, in order to implement the main principle of Soviet medicine – disease prevention and prophylaxis – since 2024, the volume of medical care provided in outpatient settings has been increased, and dispensary observation at the workplace has been introduced. “But so far only 36 regions of our country have taken advantage of this opportunity. I ask all regions to more actively implement this approach to dispensary observation,” the Deputy Prime Minister said. She emphasized that the principle of accessibility of medical care at the place of residence, work or study is the main one in Russian legislation.

Accessibility of medical care and its provision itself are impossible without medical personnel. “Until 2023, we noted a decrease in the number of doctors. Therefore, a whole range of measures was implemented at the federal level, which allowed us, by the end of 2023, for the first time in the last five years, to stop this decline and increase the number of doctors by 7.5 thousand people without taking into account new regions,” Tatyana Golikova emphasized.

Developing and continuing the foundations laid by Nikolai Aleksandrovich Semashko, the primary health care system is being actively modernized, which in 1978 was recognized by the World Health Organization as the best in the world, which was recorded in a specially adopted declaration. Therefore, the federal project for the modernization of the primary health care system is the most resource-intensive project of the new national project “Long and Active Life”.

“Over the past three years, we have already modernized over 18,000 healthcare facilities, which affected over 24 million of our citizens. By the end of 2025, within the framework of current regional programs, we will modernize almost 2,000 more facilities. The plans for 2025-2030 include over 30,000 more facilities, where over 80 million residents of the country receive medical care, including those living in rural areas, urban-type settlements and small towns,” noted Tatyana Golikova.

The priority of prevention in health protection has been established by law, the unity of prevention and treatment has been regulated. Almost 5 thousand medical prevention departments and health centers have been opened in its development. 35.5 million people have applied to these departments for training in the principles of a healthy lifestyle. Another 9 million people have been trained in so-called schools.

The population is provided with medical examinations and preventive check-ups.

Since 2024, as part of the Year of the Family, a medical examination to assess reproductive health has been introduced for the first time. Over 3 million men and women of reproductive age have already been examined. In 11% of cases, diseases that negatively affect reproductive function were detected. Additional examination and treatment of such patients is being carried out.

“We have preserved and strengthened the state system of ensuring sanitary well-being and social hygiene, the foundations of which were laid by Nikolai Aleksandrovich. We have launched a new federal project, “Sanitary Shield of the Country”. We have formed a single centralized system for responding to possible infectious threats. As a result, we have ensured a multiple reduction in infectious diseases. Last year alone, such a reduction was 30%. More than 17 million cases of infectious pathology were prevented,” the Deputy Prime Minister emphasized.

Since 2019, a separate project aimed at promoting healthy eating has been implemented within the framework of the national project “Demography”. The project’s activities have already covered more than 40 million people.

Research for the development of medical science is conducted by over 400 scientific, medical and educational organizations. These organizations perform almost 5.5 thousand studies for medicine. 120 billion rubles have been allocated from various sources for these purposes.

“We have created conditions for the development of the medical and pharmaceutical industries. In 2023 alone, Russian medical products worth over 1 trillion rubles were produced,” said Tatyana Golikova.

The participants of the discussion presented information in the format of “was – became – will be” on each thematic area of the session: since the time of N.A. Semashko, achievements of the present time and what will be implemented in the future, in focus on the advantages of the Soviet and Russian health care system and the replication of the Soviet experience of building a health care system in other countries.

The final plenary session included an award ceremony for the winners of the All-Russian Competition of Young Leaders – Healthcare Organizers. The competition was held by the Central Research Institute of Healthcare and Informatics with the support of the Ministry of Healthcare. The award ceremony was held by Deputy Prime Minister Tatyana Golikova and Minister of Healthcare Mikhail Murashko.

The plenary session ended with an opera ball featuring artists from the Helikon Opera musical theatre.

The third national congress with international participation “National Healthcare” was held with the support of the Russian Government. The event was organized by the Ministry of Healthcare and the Roscongress Foundation. The organizational partner of the event was the Central Research Institute for Healthcare Organization and Informatization of the Ministry of Healthcare of Russia.

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

MIL OSI Russia News –

January 25, 2025
MIL-OSI Russia: Denis Manturov held a meeting with the Governor of Omsk Region Vitaly Khotsenko

Translation. Region: Russian Federation –

Source: Government of the Russian Federation – An important disclaimer is at the bottom of this article.

Denis Manturov held a meeting with the Governor of Omsk Region Vitaly Khotsenko

First Deputy Prime Minister Denis Manturov met with the Governor of Omsk Region Vitaly Khotsenko, with whom he discussed issues of industrial development in the region.

In particular, the head of the region told Denis Manturov about the progress of the project to build a branch of the CITO high-tech prosthetics center in Omsk. Assistance here will be provided, in particular, to wounded SVO participants.

In addition, the meeting discussed an important project of the Titan Group of Companies for the region. Last year, the company began implementing a large-scale investment project to create a new EP-600 olefin complex in Omsk, which will create up to a thousand additional jobs in the region, as well as increase tax revenues to the budget and create a raw material base for industrialists and consumer goods manufacturers. The total volume of expected investments in the project is over 500 billion rubles.

The meeting also discussed a project to organize serial production of promising small-sized turbojet engines based on the branch of JSC UEC – the Omsk Engine-Building Association named after P.I. Baranov.

Vitaly Khotsenko thanked the First Deputy Prime Minister for assistance in regularly updating the vehicle fleets of schools and hospitals in the region as per the instructions of Russian President Vladimir Putin. In recent years, 342 school buses and 176 ambulances have arrived in Omsk Oblast. Denis Manturov expressed his readiness to continue to provide support to the region in this matter.

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

MIL OSI Russia News –

January 25, 2025
MIL-OSI Canada: Biographical note

Source: Government of Canada News

Michael Callan becomes High Commissioner in the Republic of Trinidad and Tobago. Mr. Callan replaces Arif Keshani.

Michael Callan (BA Hons [Political Studies], Queen’s University, 2000; MSc Econ [International Security], University of Wales, Aberystwyth, 2002). Prior to joining Global Affairs Canada, Michael Callan served in the Canadian Armed Forces and worked with the Aga Khan Foundation in Bangladesh and the Carnegie Endowment for International Peace in Moscow. Upon joining the Canadian International Development Agency in 2004, Mr. Callan took on assignments with the Humanitarian Assistance Division and the Afghanistan Task Force. Abroad, Mr. Callan was the Government of Canada’s first civilian deployed to Kandahar, Afghanistan, where he served as director, development, for Canada’s Provincial Reconstruction Team (2005 to 2006). His subsequent deployments included assignments as head of aid in Khartoum (2008 to 2010) and director, development, for the Middle East and North Africa in Cairo and Amman (2012 to 2016). He was then seconded to the Privy Council Office (2016 to 2017) before taking up a fellowship with the Weatherhead Center for International Affairs at Harvard University (2018). Mr. Callan served as director of conflict prevention, stabilization and peacebuilding (2019 to 2021) prior to his most recent assignment as ambassador to Algeria (2021 to 2024).

MIL OSI Canada News –

January 25, 2025
MIL-OSI USA: Ghost forests: Learn more as Halloween sneaks up!

Source: US Geological Survey

These eerie forests, filled with standing dead trees, tell a story on the effects of sea level rise and extreme flooding. And scientists with the USGS are investigating!

When coastal forests are inundated with salt water or frequently flooded, trees can be stressed to levels they can’t withstand. If trees don’t survive, coastal forests can transform into different types of settings such as marshes or open water, creating ghost forests and leaving behind remnants of the ecosystems that once were.

What the USGS knows…

Coastal ghost forests typically occur in low-lying areas, and USGS scientists are studying how and where these shifts are happening across the nation. The USGS and partners are also working to forecast what areas might be impacted in the future, considering various sea level rise scenarios.

Changes can lead to potentially positive or negative impacts. Healthy coastal forests provide numerous benefits such as supporting wildlife habitat, filtering pollutants and offering flood protection along coastlines, while marshes also provide species habitat, improve water quality and absorb floodwaters, among many other purposes.

A ghost forest stands in Goose Creek State Park in North Carolina. This is an example of a freshwater forested wetland that is transitioning to open water. Photograph by Melinda Martinez, USGS.

USGS science can be used by decisionmakers such as land and wildlife managers as they consider the costs and benefits of conservation and restoration.

An example: The Chesapeake Bay

The eastern U.S. is a particular concern, as these transitions are taking place up and down the Atlantic coast. The USGS has projects in several areas, including, for example, ongoing research in the Delmarva Peninsula within the Chesapeake Bay. This region consists of several low sloped landscapes, which allows for rapid change to occur.

Drilling into the trees

Here’s where it gets even more interesting! The USGS and partners recently drilled into trees to see what’s inside. Why? To understand the role of ghost forests in greenhouse gas fluxes.

Trees are known to naturally absorb and release gases, but there’s limited research on whether and how that process changes when coastal forests die. A recent study finds that standing dead trees in ghost forests have tiny organisms that actually convert methane, a potent greenhouse gas, to carbon dioxide, which is less potent.

This insight is another piece of the puzzle as officials consider the trade-offs for how to manage these landscapes.

The USGS is a coauthor on that study, which was led by Hollins University.

Share the tale

Don’t forget to share what you learned with friends! Do they know ghost forests are real?

Ghost forest on the Delmarva Penninsula. Photograph by Kyle Derby, USGS.

A ghost forest stands in Goose Creek State Park in North Carolina. This is an example of a freshwater forested wetland that is transitioning to open water. Photograph by Melinda Martinez, USGS.

MIL OSI USA News –

January 25, 2025
MIL-OSI Global: Time to freak out? How the existential terror of hurricanes can fuel climate change denial

Source: The Conversation – USA – By Jamie Goldenberg, Professor of Psychology and Area Director, Cognitive, Neuroscience and Social Psychology, University of South Florida

Hurricane Milton flooded parts of the Tampa Bay region just days after Hurricane Helene made landfall nearby. Bryan R. Smithy/AFP via Getty Images

As TVs across Florida broadcast the all-too-familiar images of a powerful hurricane headed for the coast in early October 2024, people whose homes had been damaged less than two weeks earlier by Hurricane Helene watched anxiously. Hurricane Milton was rapidly intensifying into a dangerous storm, fueled by the Gulf of Mexico’s record-breaking temperatures.

Many residents scrambled to evacuate, clogging roads away from the region. Officials urged those near the coast who ignored evacuation warnings to scrawl their names on their arms with indelible ink so their corpses could be identified.

The two hurricanes were among the most destructive in recent memory. They are also stark reminders of the increasingly extreme weather events that scientists have long warned would be the consequence of human-driven climate change.

Still, many people deny that climate change is a worsening threat, or that it exists at all. As its impacts grow more visible and destructive, how is this possible?

Views of Hurricane Milton’s damage across Florida.

One answer lies in a unique facet of human psychology – specifically, in how people manage the fear aroused by existential threats. For many people, denying the existence of a climate crisis is not only convenient, but may feel psychologically necessary.

Terror management theory

The Pulitzer Prize-winning anthropologist Ernest Becker put it this way: “The idea of death, the fear of it, haunts the human animal like nothing else … to overcome it by denying it in some way is the final destiny for man.”

In plain terms, he was saying that most people struggle to accept their mortality and take pains to distort their perception of reality to avoid confronting it.

In the 1980s, social psychologists developed “terror management theory,” showing the lengths people go to deny death. Hundreds of experiments have tested its implications. In a common method, participants reflect on their own death, while control groups consider less threatening topics, like dental pain. The key question: What does death awareness do to people?

After writing about death, people tend to quickly move on, pushing thoughts of it from consciousness with distractions, rationalizations and other tactics. Health care professionals see this every day. For example, people often dodge screenings and diagnostic tests to avoid the frightening possibility of discovering cancer.

Skidmore College psychologist Sheldon Solomon discusses Ernest Becker’s ‘The Denial of Death’ and terror management theory in the context of humanity’s history of brutal behavior.

But here’s the rub: Terror management theory suggests that when people are not thinking about death, it nevertheless holds influence. The unconscious mind lingers on the problem even after people have used strategies to quiet the fear by pushing it from awareness.

Social psychology experiments show that people often cope with the specter of death by attaching themselves to cultural ideologies, such as religious, political or even sports fandom. These worldviews imbue life with meaning, values and purpose. And that can ease the terror of mortality by connecting people to an enduring and comforting web of ideas and beliefs that transcend one’s own existence.

When people are made aware of death, those systems of meaning become even more critical to their psychological functioning. Existential threats make us cling even tighter to the meaning systems that sustain us.

Climate denial as a defense mechanism

Much like a terror management lab experiment – or the onset of the COVID-19 pandemic – natural disasters like hurricanes Helene and Milton trigger death anxiety.

Rising sea levels, warming oceans and intensifying storms – all tied to global warming fueled by human actions – represent an existential threat.

From our perspective, it is not surprising that climate-related disasters disappear from the public consciousness almost as soon as they have passed. Google Trends data exemplifies this: Incoming storms instigated an uptick in searches for “climate change” and “global warming” in the days before Hurricane Helene made landfall on Sept. 25, 2024, and Hurricane Milton on Oct. 9, 2024. Then those searches quickly declined as people shifted their focus away from the threat.

Unfortunately, climate change isn’t going away, no matter how hard anyone tries to deny it.

While climate denial allows people to protect themselves from feelings of distress, terror management theory suggests that denying death is just the tip of the iceberg. For some people, accepting the reality of climate change would necessitate reevaluating their ideologies.

Terror management theory predicts that individuals whose ideologies conflict with environmental concerns may ironically double down on those beliefs to psychologically manage the existential threat posed by climate-related disasters. It’s similar to how mortality reminders can lead people to engage in risky behavior, such as smoking or tanning. Hurricanes may reinforce denial and commitment to a worldview that rejects climate change.

A path forward: Building new worldviews

Although denial may be a natural psychological response to existential threats, the U.S. may be getting to a point where even deniers can’t ignore the existential threat associated with climate change.

Again and again, Americans are gobsmacked by the devastation – from hurricanes to severe flooding, wildfires and more.

A terror management analysis suggests that overcoming this crisis requires weaving a solutions-focused narrative into the ideologies that people rely on for comfort. As psychologists who work on terror management, we believe the fight against climate change should be framed not as an apocalyptic battle that humanity is destined to lose, but as a moral and practical challenge that humanity can collectively overcome.

Tampa, Florida, meteorologist Denis Phillips had the right idea as the two hurricanes headed for his community: His fact-based social media updates eschew partisan critique, encourage neighbors to support one another and emphasize preparedness and resilience in the face of incoming storms.

As Milton approached, Phillips told residents to remember his Rule #7: Don’t freak out. That doesn’t mean do nothing – it means evaluate risks without letting emotion interfere, and take action.

Shifting the narrative from helplessness to collective empowerment and action can help people confront climate change without triggering the existential anxieties that lead to denial – offering a vision for a future that is both secure and personally meaningful.

The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. Time to freak out? How the existential terror of hurricanes can fuel climate change denial – https://theconversation.com/time-to-freak-out-how-the-existential-terror-of-hurricanes-can-fuel-climate-change-denial-242390

MIL OSI – Global Reports –

January 25, 2025
MIL-OSI Video: US-ROK Security Consultative Meeting Preview

Source: United States Department of Defense (video statements)

This week, Secretary of Defense Lloyd J. Austin III will host South Korean Defense Minister Kim Yong-hyun for the Security Consultative Meeting to deepen and modernize our ironclad alliance with the ROK. Later, they will join Secretary of State Blinken and ROK Foreign Minister Cho for a 2+2 Ministerial at the State Department. Watch as Dr. Jay Finch, Director of the Korea Office at the Pentagon, discusses this important meeting.
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Your military is an all-volunteer force that serves to protect our security and way of life, but Service members are more than a fighting force. They are leaders, humanitarians and your fellow Americans. Get to know more about the men and women who serve, who they are, what they do, and why they do it.

For more on the Department of Defense, visit: http://www.defense.gov
—————
Keep up with the Department of Defense on social media!

Like the DoD on Facebook: http://facebook.com/DeptofDefense
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Follow the DoD on LinkedIn: https://www.linkedin.com/company/DeptofDefense

https://www.youtube.com/watch?v=ybjWZ44kLNM

MIL OSI Video –

January 25, 2025
MIL-OSI Video: Banks Lose – someone gains: Households’ unequal exposure to financial distress

Source: European Central Bank (video statements)

ECB Research Bulletin by Caterina Mendicino, Lukas Nord and Marcel Peruffo

Read more: https://www.ecb.europa.eu/press/research-publications/resbull/2024/html/ecb.rb241030~0d7d61fdc8.en.html

The Research Bulletin features a selection of recent work on policy-relevant topics by ECB economists. Published on a monthly basis, the articles in the Research Bulletin are intended for a general audience.

The views expressed in each article are those of the authors and do not necessarily represent the views of the European Central Bank and the Eurosystem.

https://www.youtube.com/watch?v=krkgbvswRJU

MIL OSI Video –

January 25, 2025
MIL-OSI Security: Defense News: Assistant Secretary of the Navy Emphasizes National Call to Maritime Service and Education During Visit to California

Source: United States Navy

Each institution is essential to promoting the National Call to Maritime Service by building the Department of the Navy’s civilian maritime workforce and enhancing the Navy’s warfighting capability by equipping service members through education opportunities.

“Our Navy is committed to building a diverse warfighting team of not only Sailors and Marines, but also talented civilians to bolster warfighting capabilities across the Department of the Navy that operates around the globe,” said Parker. “This begins by seeking motivated students who take interest in maritime service, in or out of uniform.”

Mr. Parker began the trip by visiting Cal State Maritime Academy and highlighting the opportunity for maritime service at a pivotal point in their education. The school offers a unique pathway to maritime service and underscores the importance of U.S. Maritime Heritage, Military Sealift Command and Military to Mariner transition.

The visit comes at a fundamental time as the Department of the Navy seeks to encourage civilian commitment to the maritime service. The Navy aims to educate Americans on the careers available to them across a broad range of industries and government agencies that directly support the United States global standing as a maritime nation.

Mr. Parker also visited the Naval Postgraduate School (NPS) highlighting the school’s recent successes and progress implementing the Secretary of the Navy’s Naval Education Strategy, such as the efforts modernizing education programs, and enhancing partnerships. One example of the Department taking action to implement the Secretary of the Navy’s guidance is the Department’s Naval Innovation Center at NPS, which is a collaborative academic facility, applied research, and innovation capability that will bring industry, academia, and the Department together to develop technological talent throughout the total Naval Force and accelerate the creation of relevant defense solutions at speed and scale. The Naval Innovation Center at NPS will provide a venue for NPS

students and faculty to further hone innovative research and an intellectual edge that will permeate the fleet.

The trip culminated with a visit to the Gordian Knot Center for National Security Innovation at Stanford University. In a partnership with the Office of Naval Research, the center features a network of national security professionals, all dedicated to mentoring and nurturing the future generation of leaders.

Education is a critical warfighter enabler and the Department of the Navy is committed to providing a range of learning opportunities for service members and the Department’s civilian workforce across the fleet.

MIL Security OSI –

January 25, 2025
MIL-OSI Russia: Hydropower engineers discussed new developments and technologies at the Polytechnic

Translation. Region: Russian Federation –

Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

On October 30, the Polytechnic University opened the 16th RusHydro scientific and technical conference “Hydropower. Hydraulic engineering. New developments and technologies.” Over 600 experts from 200 Russian and foreign organizations will discuss the most important problems of the industry over three days. The event was organized by PJSC RusHydro, JSC VNIIG im. B. E. Vedeneyev, and SPbPU.

The conference “Hydropower. Hydraulic engineering. New developments and technologies” is the largest industry event in our country for specialists in the field of hydropower and hydraulic engineering.

The event is attended by specialists from RusHydro hydroelectric power plants and other hydroelectric power plants in the country, representatives of hydraulic engineering construction industries, as well as employees of Russian universities, research institutes in the construction field, marine and port facilities, and transport infrastructure. Experts from other countries also speak at the conference.

At the opening of the conference, the greeting from the Chairman of the Board – General Director of PJSC RusHydro Viktor Khmarin was read by his First Deputy – Chief Engineer of RusHydro Sergey Kondratyev.

Hydrotechnics and hydropower engineering respond to the challenges of the time and develop in accordance with the course taken on technological registers. In the conditions of growing demand for electric energy, we are faced with even more ambitious tasks today. The construction of modern power plants requires new solutions. This gives scientists and engineers an incentive for development and creates a wide field for research activities, the application of innovations. I am confident that a constructive exchange of opinions will allow us to develop practical recommendations and proposals that will contribute to the successful development of the country and the industry as a whole, said Sergey Kondratyev.

The first projector of SPbPU, Vitaly Sergeev, gave a welcoming speech.

This conference always arouses great interest. And it has already become a good tradition that such a large-scale event is regularly held at our university. The Polytechnic University has always been famous for its great scientists in the field of hydropower and hydraulic engineering. The Civil Engineering Institute is now the legal successor of the hydrotechnical faculty and maintains its reputation, interacting with RusHydro and other organizations. I hope that the energy that is at the Polytechnic, the aura of new knowledge, innovative developments and youthful spirit will contribute to your work, – noted Vitaly Sergeev.

The conference started with a plenary session, where experts discussed issues of design, construction and operation of hydroelectric power plants and hydraulic structures for various purposes. Top managers of PJSC RusHydro made reports. The winners of the competition for the best research work in the field of hydropower were also awarded at the session.

The work continued with scientific sections and round tables, where scientists and engineers discuss the most pressing issues of industry development, exchange experiences and build professional contacts. The conference’s thematic areas include: equipment for hydroelectric power plants and hydraulic structures, scientific and practical issues of hydraulics and hydrology, concrete and reinforced concrete structures of hydraulic structures, environmental issues in energy and hydraulic engineering, new materials and technologies in construction, ensuring the safety of hydraulic structures, small hydropower, hydraulic engineering construction in the Arctic, personnel training, etc.

Representatives of SPbPU actively participate in the conference. The co-chairman of the section “Scientific and Practical Issues of Hydraulics and Hydrology” was Professor of the Higher School of Hydraulic Engineering and Power Engineering Alexander Bolshev. Director of the Higher School of Hydraulic Engineering and Power Engineering Galina Kozinets, Associate Professors Vita Belousov and Irina Frolova presented the report “Analysis of the Environmental Monitoring System of the GTS Safety”. Also Galina Kozinets, Leading Engineer of the Higher School of Hydraulic Engineering and Power Engineering Viktor Chechevichkin, Engineers Leonid Yakunin and Alexey Chechevichkin spoke about the possibilities of using nature-like technology for cleaning surface wastewater at hydropower facilities. Professors of the Higher School of Hydraulic Engineering and Power Engineering Viktor Elistratov, Vladimir Maslikov and Mikhail Shilin presented the results of a study related to the impact of the Kolyma Hydroelectric Power Plant on the ichthyofauna of the reservoir. Associate Professor of the Higher School of Hydraulic Engineering and Power Engineering Armen Girgidov presented the report “Improvement of End Devices of Bottom Spillways”. Associate professors of the Higher School of Hydroelectric Power Engineering Andrey Chusov and Svetlana presented a forecast of the water quality of the Svetlinskaya hydroelectric power station reservoir based on forest clearing options.

An important part of the conference will be the youth day, which will take place on November 1. Participants will share their work experience, discuss current tasks and future challenges.

Following the three-day work, collections will be published, including plenary reports, section reports, and the final decision of the conference.

Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

MIL OSI Russia News –

January 25, 2025
MIL-OSI United Nations: Secretary-General’s message to the 2024 Global Education Meeting

Source: United Nations secretary general

As you gather for the 2024 Global Education Meeting, you confront a critical global challenge.

Education is the key to unlocking opportunities, equality, prosperity and peace.

But for millions of people around the world, that door remains shut tight.

Seventy per cent of 10-year-olds are unable to understand a basic text, while 250 million children and young people are out of school altogether. This is worsened by a huge financing gap of $97 billion annually for education in low and middle income countries.

We don’t have a moment to lose. At the Transforming Education Summit in 2022, governments committed to ending the learning crisis, and boosting investment in quality education systems that can reach every learner, throughout their lives.

Your meeting is an opportunity to measure how governments are — and are not — living up to this commitment.

In particular, I welcome your focus on closing the financing gap for education through more effective resource mobilization and innovative financing initiatives. I call on governments to arrive at next year’s Conference on Financing for Development and the World Social Summit with concrete solutions that can deliver the education systems all people need and deserve.

Through the recently adopted Pact for the Future, governments committed to investing in accessible, safe, inclusive and equitable quality education for all.

The United Nations is proud to stand with you in this essential global effort.

***

MIL OSI United Nations News –

January 25, 2025
MIL-OSI Canada: Announcement of new diplomatic appointment

Source: Government of Canada News (2)

The Honourable Mélanie Joly, Minister of Foreign Affairs, today announced the following diplomatic appointment.

October 30, 2024 – Ottawa, Ontario – Global Affairs Canada

The Honourable Mélanie Joly, Minister of Foreign Affairs, today announced the following diplomatic appointment:

Michael Callan becomes High Commissioner in the Republic of Trinidad and Tobago. Mr. Callan replaces Arif Keshani.

MIL OSI Canada News –

January 25, 2025

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