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  • MIL-OSI USA: Senator Murray, SSA Employees and WA State Residents Who Rely on Social Security Sound Alarm on DOGE Decimating Social Security Administration

    US Senate News:

    Source: United States Senator for Washington State Patty Murray

    FACT SHEET: Trump and Musk’s Plot to Make It Harder for Americans to Get Their Social Security Benefits

    Current SSA employee retiring because of overwhelming demoralization and stress SSA staff are experiencing from Trump and Elon’s attacks on SSA: “I was not expecting to leave now, but I’m exhausted and demoralized, like many other employees around the region… I feel immense guilt for leaving my coworkers behind—like I’m in the last lifeboat of a sinking ship.”

    *** WATCH HERE; DOWNLOAD HERE ***

    Washington, D.C. — Today, U.S. Senator Patty Murray (D-WA), Vice Chair of the Senate Appropriations Committee, held a virtual press conference with current and former Social Security Administration employees and people in Washington state who rely on Social Security benefits and Social Security Disability Insurance (SSDI) calling out Trump, Elon Musk, and Congressional Republicans for their plans to dismantle the Social Security Administration (SSA) and the real threats it poses to Americans’ hard-earned Social Security benefits.

    SSA has plans to lay off thousands of employees—a significant proportion of its workforce at a time when SSA is already at a 50-year staffing lows—shutter local offices across the country, and cut phone services. In just the last week, Trump’s SSA has begun requiring Americans who file for benefits by phone to verify their identity using an online system or provide documentation in person at a field office—creating serious hardships for millions of elderly and disabled Americans who lack computers and have limited mobility to access in-person help. Trump and Musk’s actions to gut SSA will make it harder for Americans who have spent their lives paying into Social Security to get the benefits they have earned—and to get the help accessing those benefits they need. The Republican Continuing Resolution, written without any Democratic input, effectively endorses many of these plans by forcing staffing reductions due to inadequate funding.

    “Cutting Social Security staff and closing offices isn’t going to reduce the deficit or make the government more efficient. Instead, making it harder for millions of Americans to apply for the benefits they have earned, and delaying processing is simply another way of cutting Social Security benefits. That appears to be the goal here, all to make more room for tax cuts for billionaires,” said Senator Murray. “Social Security is a promise. But more than that—it’s a lifeline that keeps millions of people afloat, sometimes with heads just above the water. That was my parents once upon a time. It is countless other families today. And Trump and Musk are trying to cut that lifeline. I am not going to let them get away with sabotaging Social Security in the shadows, and neither are the American people.”

    The Trump administration’s plans to gut SSA come as Elon Musk calls Social Security “the biggest Ponzi scheme of all time,” and Commerce Secretary Howard Lutnick suggested people wouldn’t mind if the government simply skipped sending one of their Social Security checks, and if they complained otherwise they were “fraudsters.”

    “Every single retirement claim that we do, every disability claim, every Social Security number replacement card, those are all real people—and we know that. We work directly with the public, who are often in very difficult times in their lives when they need us. We need to be able to help them quickly,” said Laura Novakoski, who has worked at the Social Security Administration for more than 30 years, including at the Portland Metro field office for the last 12 years—where she served constituents from Southwest Washington and Oregon. Laura is retiring from SSA in large part because of the overwhelming demoralization and stress SSA staff are experiencing as a direct result of Trump and Elon’s reckless actions. Laura also serves as Secretary of AFGE Local 3937, which represents SSA employees throughout Washington, Oregon, Idaho, and Alaska. “Appointing Acting Commissioner Dudek and nominating Bisignano for Commissioner continues a trend of this administration appointing agency heads who don’t believe in the mission of their own agency, and will actively work to dismantle it.”

    “I was not expecting to leave now, but I’m exhausted and demoralized, like many other employees around the region. The constant stress has a real impact on our physical and mental health,” Laura continued. “I feel immense guilt for leaving my coworkers behind—like I’m in the last lifeboat of a sinking ship. We are serious, hardworking people. We are taxpayers. The people who rely on Social Security are, too. We expect the representatives we elected to take care of the program and strengthen it. I don’t think we should let Social Security be toyed with by those who have no stake in it and no concern for the ramifications to real people. I don’t think we should let it be taken apart and taken over by private interests and billionaires.”

    “The Social Security Administration is under a withering attack.  Sensitive information about past and present workers and their families has been compromised. Thousands of workers have been lost from an Agency already at a 50-year staffing low. Disability benefit applicants wait years for final decisions. 30,000 died last year while waiting. All of this crushes employee morale and public confidence, and is a prelude to privatization,” said Steve Kofahl, a retired SSA employee and President Emeritus of AFGE Local 3937, which represents SSA employees throughout Washington, Oregon, Idaho, and Alaska.

    “I have been on Social Security since the age of 18 and on Social Security Disability Income since I was 22. My schizophrenia symptoms started when I was 12. I was officially diagnosed at 19 and placed in a group home run by Transitional Resources. At 23, with the help of Transitional Resources, I moved into an apartment in the neighborhood where I grew up, close to my family and friends. Social Security subsidizes a portion of my rent, which has allowed me to live on my own for more than 10 years,” said Joey Wilson, a Washington state resident who relies on SSDI benefits and has previously shared his story with the Seattle Times. “Social Security is in the crosshairs of budget cuts, cuts that would completely throw millions of Americans living with disabilities into chaos. These are people who need responsive services for emergencies, people who count on regular appointments, people whose consistency of care cannot be jeopardized. It already takes hours to get hold of Social Security on an average day of the week over the phone. Think about the impact and damage the proposed cuts will do to individuals with disabilities. Please help support those who cannot advocate for themselves.”

    “Last week in class we talked about changes coming to Social Security access. I’ve encouraged them to create accounts on SSA.gov to avoid in-person visits — a hardship for those who don’t drive. As we age, it’s more likely that we need to move to a smaller home, or an assistive environment. We may want to change banks or designate someone to manage our account should we become unable. All of this could be an easy phone call to direct SSA in the changes needed,” said Sara Lambert, a senior in Carnation, WA who receives Social Security benefits and volunteers her time at a local Sno-Valley Senior Center helping other seniors sign up for the Social Security benefits they have earned. “I continue to hear news reports of unelected, unvetted, and unknown people invading Social Security looking for supposed fraud, but I’ve yet to see documented proof of any fraud. Also, I’d like to know how my personal information will be safeguarded, and that my guaranteed benefits will continue. A missed Social Security check will create hardship for honest, hardworking taxpayers who are supposed to be in their “golden years.” We’re experiencing frustration and fear in Carnation, as I expect is the case around the country. Maybe the billionaires trying to run the country haven’t experienced living paycheck to paycheck recently. Can we at least ask that they learn a little Civics 101?”

    Senator Murray has an extensive record of protecting Social Security benefits and fighting to secure essential funding for the SSA—and she has been tirelessly raising the alarm about the threat Elon Musk’s DOGE poses to Americans’ hard-earned benefits. Under Senator Murray’s leadership as Chair last Congress, the Senate Appropriations Committee secured $14.2 billion for SSA in the Fiscal Year 2024 Labor, Health and Human Services, Education and Related Agencies Appropriations Bill—a $100 million increase over Fiscal Year 2023 funding levels—and advanced a draft Fiscal Year 2025 Appropriations Bill that would provide another $509 million increase for SSA. Millions of Americans rely on Social Security and have earned benefits over lifetimes of work. Half of seniors rely on Social Security for most of their income and a quarter of seniors rely on Social Security for at least 90% of their income.   

    Senator Murray’s full remarks, as delivered on today’s press call are below and video is HERE:

    “We are here today to sound the alarm. Because Social Security is a promise—and Trump and Musk are doing everything they possibly they can do to break that promise.

    “Trump can huff and puff and promise he won’t touch Social Security until he’s blue in the face.

    “But here are the facts: they are firing workers and encouraging them to leave en masse. They are shuttering offices across the country. They are throwing up barriers for seniors and people with disabilities. They are jamming up the phone lines and wait times—and they are doing it all without a care in the world.

    “Seriously—they may as well be telling people who need Social Security, ‘good luck you’re on your own.’

    “After all, Trump’s own Commerce Secretary basically said he doesn’t think anyone will mind if their benefits get cut off for a month or two—and if you did complain, you’re probably a fraudster. Well, does he know any real people? I don’t think so.

    “And Elon hasn’t shown the slightest concern that while he is leading a witch hunt for dead people on Social Security, SSA has incorrectly declared living people dead—including here in Washington state—and wrongly stole thousands of dollars in benefits out of people’s bank accounts. 

    “Not to mention, Trump administration officials are accidentally sending war plans to reporters over text message—and now we’re supposed to trust a 20-year old DOGE employee with every piece of data SSA has on everyone? I don’ think so!

    “Career civil servants and leadership with decades of experience at SSA have resigned because of what Elon Musk and DOGE are trying to do.

    “Meanwhile, Trump’s acting head of the Social Security Administration… First, tried to stop parents in Maine from being able to apply for a Social Security number for their newborns at the hospital, after Trump got into a fight with the governor. Then, threw an entirely different tantrum and threatened to shut down the entire agency because a Judge said he couldn’t hand over everyone’s private financial data to Elon Musk’s DOGE minions.

    “And now, on Trump’s orders, is requiring people go to Social Security offices in person to verify their identity—at the same time they are firing workers and shuttering offices!

    “Now, it’s not hard to imagine why some of the richest people in the world don’t get it. Elon Musk is never going to go hungry because he missed a Social Security check.

    “But it’s also not hard to see how what they are doing is really dangerous. If Social Security wrongly declares you dead in Elon’s conspiracy purge—that is a problem. If you can’t verify your identity because there is no office near you, and no appointment available for months—that is a problem. If your private financial data is compromised because Elon’s DOGE minions are mucking around with no oversight—that is a problem.

    “And if Social Security breaks down and misses payments because billionaires like Trump and Elon don’t care, or because the Acting Commissioner doesn’t have the first clue what he’s doing, or because they are all actively sabotaging the entire program—that is a MAJOR problem, for tens of millions of Americans.

    “Social Security administrative expenses represent less than 1 percent of benefits paid. It’s about 0.2 percent of total government spending. Cutting Social Security staff and closing offices is not going to reduce the deficit or make the government more efficient.

    “Instead, it is making it harder for millions of Americans to apply for the benefits they have earned, and delayed processing. And it’s simply another way of cutting Social Security benefits.

    “That appears to be the goal here, all why? To make more room for tax cuts for billionaires.

    “And I think there’s a pretty basic reason I understand that while all these clueless, careless, and completely out of touch billionaires don’t seem to know or care.

    “It’s because I actually hear from people every day who rely on Social Security. And I actually remember how badly my parents needed Social Security. I know what a weight was lifted when they were finally eligible for their benefits, and I know how crushing it will be for families if Trump and Musk succeed in grinding this program into the ground.

    “Because here is the thing: Social Security is a promise, but more than that—it’s a lifeline that keeps millions of people afloat, sometimes with their heads just above the water.

    “That was my parents once upon a time. It is countless other families today. And Trump and Musk are trying to cut that lifeline.

    “Well I am not going to let them get away with sabotaging social security in the shadows, and neither are the American people.

    “I am going to keep this in the spotlight, and keep pushing back with everything I’ve got to protect Social Security, and keep our promise to Americans.”

    MIL OSI USA News –

  • MIL-OSI Global: Women are reclaiming their place in baseball

    Source: The Conversation – USA – By Callie Maddox, Associate Professor of Sport Leadership and Management, Miami University

    For most baseball fans, hope springs eternal on Opening Day.

    Many of those fans – more than you might think – are women.

    A 2024 survey found that women made up 39% of those who attended or watched Major League Baseball games, and franchises have taken notice. The Philadelphia Phillies offer behind-the-scenes tours and clinics for their female fans, while the Boston Red Sox and New York Yankees offer fantasy camps that are geared to women.

    The number of women working professionally in baseball has also grown. Kim Ng made history in 2020 when she became the first woman general manager of an MLB team, the Miami Marlins. As of 2023, women made up 30% of central office professional staff and 27% of team senior administration jobs. In addition, 43 women held coaching and managerial jobs across the major and minor league levels – a 95% increase in just two years.

    As a fan and scholar of the game, I’m happy to see more women watching baseball and working in the industry. But it still nags at me that the girls and women who play baseball don’t get much recognition, particularly in the U.S.

    Women take the field

    In the U.S., baseball is seen as a sport for boys and men. Girls and women, on the other hand, are supposed to play softball, which uses a bigger ball and has a smaller field.

    It wasn’t always this way.

    Women have been playing baseball in the U.S. since at least the 1860s. At women’s colleges such as Smith and Vassar, students organized baseball teams as early as 1866. The first professional women’s baseball team was known as the Dolly Vardens, a team of Black players formed in Philadelphia in 1867. Barnstorming teams, known as Bloomer Girls, traveled across the country to play against men’s teams from the 1890s to the 1930s, providing the players with independence and the means to make a living.

    American women have been playing baseball since at least the 1860s.
    Ullstein Bild/Getty Images

    The All-American Girls Professional Baseball League, founded by Philip K. Wrigley in 1943, also offered women the chance to play professionally. The league, which inspired the 1992 film “A League of Their Own,” enforced rigid norms of femininity expected at the time. Players were required to wear skirts and makeup while playing and were fined if they engaged in any behavior deemed “unladylike.” Teams were open only to white women and light-skinned Latinas. Black women were not allowed to play, a policy that reflected the segregation of the Jim Crow era.

    Three Black women – Connie Morgan, Mamie “Peanut” Johnson and Toni Stone – did play in the otherwise male Negro Leagues in the early 1950s. However, their skills were often downplayed by claims that they’d been signed to generate ticket sales and boost interest in the struggling league.

    The All-American Girls Professional Baseball League folded in 1954, and by the late-1950s women’s participation in baseball had dwindled.

    Girls funneled into softball

    Softball was invented in Chicago in 1887 as an indoor alternative to baseball.

    Originally aimed at both men and women, it eventually became the accepted sport for girls and women due to its smaller field, larger ball and underhand pitching style – aspects deemed suitable for the supposedly weaker and more delicate female body.

    The passage of Title IX in 1972 further pushed the popularization of fast-pitch softball, as participation in high school and college increased markedly. In 1974, the National Organization for Women filed a lawsuit against Little League Baseball because the league’s charter excluded girls from playing. The lawsuit was successful, and girls were permitted to join teams.

    In response, Little League created Little League Softball as a way to funnel girls into softball instead of baseball. As political scientist Jennifer Ring has pointed out, this decision reinforced the gendered division of each sport and “cemented the post-Title IX segregated masculinity of baseball.”

    Girls can still play baseball, but most are encouraged to eventually switch to softball if they want to pursue college scholarships. If they want to keep playing baseball, they have to constantly confront stubborn cultural beliefs and assumptions that they should be playing softball instead.

    Instead of encouraging girls to play baseball, Little League launched Little League Softball to direct girls away from the sport.
    Chris Ryan/Corbis via Getty Images

    A global game

    You might be surprised to learn that the U.S. fields a national women’s baseball team that competes in the Women’s Baseball World Cup. But they receive scant media attention and remain unknown to most baseball fans.

    In a 2019 article published in the Journal of Sport and Social Issues, I argued that the U.S. has experienced inconsistent success on the global stage because of a lack of infrastructure, limited resources and persistent gendered assumptions that hamper the development of women’s baseball. Other countries such as Japan, Canada and Australia have established solid pathways that allow girls and women to pursue baseball from the youth level through high school and beyond.

    That being said, opportunities for girls to play baseball are increasing in the U.S. thanks to the efforts of organizations such as Baseball for All and DC Girls Baseball.

    Approximately 1,300 girls play high school baseball, and a handful of young women play on men’s college baseball teams each year. In recent years, numerous women’s collegiate club baseball teams have been established; there’s even an annual tournament to crown a national champion.

    Japanese pitcher Yukari Isozaki competes during the 2010 Women’s Baseball World Cup in Venezuela.
    AP Photo/Fernando Llano

    Pro league in the works

    Momentum continues to build.

    MLB recently appointed Veronica Alvarez as its first girls baseball ambassador, who will oversee development programs such as the Trailblazers Series and the Elite Development Invitational. A new documentary film, “See Her Be Her,” is touring the country to celebrate the growth of women’s baseball and raise awareness of the challenges these athletes face.

    Perhaps most significantly, the Women’s Pro Baseball League announced that it is planning to start play in summer 2026 with six teams located in the northeastern U.S. Over 500 players from 11 countries have registered with the league, with a scouting camp and player draft scheduled for later this year.

    Should the league have success, it will mark a revitalization of women’s professional baseball in the U.S., a nod to the rich history of the women’s game and a commitment to securing opportunities for the girls and women who continue to defy cultural norms to play the game they love.

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

    – ref. Women are reclaiming their place in baseball – https://theconversation.com/women-are-reclaiming-their-place-in-baseball-252590

    MIL OSI – Global Reports –

  • MIL-OSI Global: Ecological disruptions are a risk to national security

    Source: The Conversation – USA – By Bradley J. Cardinale, Professor, Ecosystem Science and Management, Penn State

    Illegal deforestation is one way terrorist groups fund their activities. Amaury Falt-Brown/AFP via Getty Images

    When the natural environment is stretched beyond its ability to meet basic human needs for food, clean air, drinkable water and shelter, it is not just a humanitarian concern for the world community. Research shows that these crises are a matter of national security for the U.S. and other countries.

    The Pentagon and the U.S. intelligence community have long paid close attention to the influence of climate change on national security. Although recent intelligence reports of the Trump administration have omitted any mention of climate change, prior intelligence reports have shown how climate change can generate flash points for global conflict, affect how troops and equipment work, and influence which defense locations are vulnerable.

    The effects of ecological disruptions on national security get less attention. But they, too, can cause social and political instability, economic strife and strained international relations. Ecological disruptions occur when ecosystems that provide natural resources are compromised and can no longer meet basic human needs. Examples include overfishing, human disease and environmental crime.

    Protecting access to fish

    Some 3.2 billion people worldwide rely on fisheries as a major source of protein. Overexploitation of ocean fisheries is a common root of international conflict.

    From the 1950s to the 1970s, intermittent conflict broke out between British and Icelandic fishermen over the Icelandic cod fisheries, which had been depleted by overfishing. The Icelandic government sought to ban British trawlers from a broader area around the country’s coast, but the British continued to fish. The result was standoffs between fishing boats and Icelandic gunboats, and even the intervention of the British Royal Navy.

    These “Cod Wars” broke diplomatic relations between Iceland and the United Kingdom for a time. Iceland even threatened to withdraw from the North Atlantic Treaty Organization and close a U.S. military base in Iceland. The U.K. ultimately agreed to abide by a 200-mile territorial limit on fishing around Iceland. Decades later, in 2012, the British government issued an apology and offered £1,000 each in compensation to 2,500 British fishermen for the loss of jobs and livelihoods that resulted from abiding by the 200-mile limit.

    More recently, China’s rampant overfishing of its own coastal waters has meant expanding fishing in the South China Sea and using fishing fleets to assert new territorial claims. Indonesia has responded by blowing up more than 40 Chinese vessels accused of fishing illegally in its waters and stealing more than US$4 billion per year in Indonesian profits.

    The United States, Australia, New Zealand and Britain have stepped up naval patrols against illegal fishing in the waters of Pacific island nations. Conflicts have arisen with Chinese coast guard vessels that routinely escort fishing fleets entering other countries’ waters without permission.

    China’s fishing fleets have also expanded their activities off the coasts of Africa and South America, depleting fish stocks and creating political instability in those regions, too. In 2024, the U.S. Coast Guard and Argentine navy began joint exercises to combat illegal Chinese fishing in the Atlantic Ocean.

    Public health crises

    The best-known examples of ecologically related public health crises that jeopardize national security involve what are called zoonotic diseases, which spread from animals to humans as a result of close contact between people and wildlife. More than 70% of the world’s emerging infectious diseases – uncommon or newly identified infectious diseases – stem from contact with wild animals.

    The risks of animal-to-human disease transmission are especially high for those who handle or eat wild meat.

    A recent example is the SARS-CoV-2 coronavirus responsible for the COVID-19 global pandemic. Epidemiological and genetic studies suggest that SARS-CoV-2 first spilled over to humans from wild animals sold in the Huanan live animal market in Wuhan, China. Although the specific animal that served as the original host is still under investigation, bats and other mammals are considered likely natural reservoirs of SARS-CoV-2 because they harbor other coronaviruses with closely related genomes.

    Following the zoonotic spillover event, the pathogen spread rapidly across the globe, killing more than 7 million people and causing acute disruptions not only to global markets and supply chains but also to social cohesion and political stability. Countries with high COVID-19 mortality rates had elevated levels of civil disorder and fatalities caused by political violence as the trust of citizens in the ability of governments to protect them eroded.

    Many other zoonotic diseases caused by human-wildlife contact, such as Zika, Ebola, SARS and West Nile virus, have similarly generated international political and economic crises that have activated security measures within the U.S. government.

    Environmental crime

    International Anti-Poaching Foundation rangers, seen here demonstrating a patrol in Zimbabwe, seek to protect natural resources from criminals.
    Gianluigi Guercia/AFP via Getty Images

    Illegal poaching and trade of wildlife and forest products is valued at $91 billion to $258 billion per year. That makes environmental crime one of the world’s largest crime sectors, comparable with drug trafficking, at $344 billion, and human trafficking, at $157 billion.

    Exorbitant black market prices for rare wildlife specimens and body parts provide funding for terrorist groups, drug cartels and criminal organizations.

    Illegal logging helps finance terrorist groups such as Al-Shabaab in Somalia, where trade in charcoal has become a critical revenue source. Money from illegally cut trees turned into charcoal and sold to markets in the Middle East has funded al-Shabab-linked suicide bombings in Mogadishu, the 2013 Westgate mall attack in Nairobi that killed 67 Kenyan and non-Kenyan nationals, and the 2015 massacre of 147 university students in Garissa, Kenya.

    Those and other terrorist activities funded through environmental crime have contributed to the destabilization of countries throughout the Horn of Africa.

    These examples make clear how ecological disruptions to nature increase national security risks.

    National security is not just a matter of military strength. It also depends on the ability of a nation to maintain productive and stable ecosystems, resilient biological communities and sustainable access to natural resources. Sovereign nations already develop and protect physical infrastructure that is essential to security, such as roads, communication networks and power grids. The natural world plays an equally vital role in social and political stability and, we believe, deserves more attention in planning for national security.

    Bradley J. Cardinale has received funding from the US National Science Foundation, US Department of Energy, US National Oceanic and Atmospheric Administration, and US Department of Agriculture.

    Emmett Duffy has received funding from the US National Science Foundation, US Environmental Protection Agency, and the Lenfest Ocean Program.

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

    – ref. Ecological disruptions are a risk to national security – https://theconversation.com/ecological-disruptions-are-a-risk-to-national-security-248754

    MIL OSI – Global Reports –

  • MIL-OSI Global: Wild marmots’ social networks reveal controversial evolutionary theory in action

    Source: The Conversation – USA – By Conner Philson, Executive Director, UCSB Natural Reserve System, University of California, Santa Barbara

    A small group of wild yellow-bellied marmots near the Rocky Mountain Biological Laboratory in Colorado. D.T. Blumstein

    It probably feels obvious that having a close friend can influence your well-being. But do the groups that you’re a part of also affect your well-being? For example, does the culture of your work colleagues influence your productivity?

    It may seem like the answer is also an obvious “yes.” But the idea that a group’s composition or structure can affect the individuals in it has been among the most controversial ideas in biology.

    This phenomenon, called multilevel selection, is an extension of natural selection: the process by which organisms with traits better suited to their environment are more likely to survive and reproduce. Over generations, these advantageous traits – behavioral, morphological or physiological – become more common in the population.

    In the traditional view of how evolution works, natural selection acts on an individual organism’s traits. For instance, mammals with more friends typically live longer lives and have more offspring. The trait under selection in this case is the number of social connections.

    Multilevel selection proposes that at the same time selection is happening on the traits of individuals, selection also acts on the traits of groups. Here’s an example: Living in a more social and interconnected group may be beneficial for the members of that group, meaning the group’s traits are under selection. In nature, this means individuals in well-connected groups may live longer lives and have more offspring because well-connected groups may be better at finding limited resources or detecting predators. The traits of the group as a whole are what’s under selection in this case.

    Multilevel selection could even select for traits that seem at odds at the individual and group levels. For instance, it could mean that selection favors individuals that are more reserved while at the same time favoring groups that are very social, or vice versa.

    Multilevel selection has been a controversial idea since Charles Darwin first suggested that groups likely affect individuals in his 1871 book “The Descent of Man.”

    The only evidence for multilevel selection acting simultaneously on individuals’ social relationships and on social groups comes from laboratory experiments. Experiments like these are vital to the scientific process, but without evidence for multilevel selection in wild animals, the 154-year-old debate rages on. As two field biologists interested in the evolution of behavior, we investigated multilevel selection in the wild by studying yellow-bellied marmots.

    Our newly published study provides support for this contested concept, suggesting that the structure of the groups marmots are members of may matter for survival just as much as, if not more than, the friendly one-on-one relationships they have with other marmots.

    Conner Philson observing the marmots’ social behavior.
    G. Johnson

    Spying on marmots’ social lives

    It’s taken a century and a half to answer the question of multilevel selection because you need an incredible amount of data to have an adequate sample size to address it.

    Scientists at the Rocky Mountain Biological Laboratory in Crested Butte, Colorado, have been studying the marmots nearby since 1962. This research is the second-longest study of individually identifiable wild mammals in the world.

    Each year, the team ensures that all marmots are individually marked. We trap them so we can give them unique ear tags and paint a mark on their back that lets us identify them from afar. Then trained “marmoteers,” as we call them, spend about 1,000 hours a year watching these chunky cat-sized rodents through binoculars and spotting scopes.

    Since 2003, the team has paid particular attention to the marmots’ social interactions and relationships. Our analysis of multilevel selection was based on 42,369 unique affiliative social interactions – behaviors such as playing and grooming – between 1,294 individuals from 180 social groups, with group sizes ranging from two to 35 marmots. We also tracked how long marmots lived – up to 16 years in some cases – and how many offspring individual animals had each year.

    Using this data, we mapped out the marmots’ social networks. Our goal was to identify how many social relationships each marmot had, who was connected to whom, and the overall structure of each group.

    From year to year, marmots formed different small social networks, connecting with various other individuals.
    Maldonado-Chaparro et al, Behavioral Ecology, 2015.

    Understanding all these marmot connections let us ask two crucial questions. First, how do social relationships affect individual survival and reproduction – that is, what individual traits are under selection? Second, how do social groups affect individual survival and reproduction – in other words, what group traits are under selection?

    Importantly, we didn’t ask these two questions in isolation – we asked them at the same time. After all, marmots are influenced simultaneously by both their social relationships and the social groups they’re part of. Our statistical approach, which researchers call contextual analysis, tells us how much social relationships and social groups matter relative to each other.

    New evidence changes the debate

    It can be tricky to distinguish how group-level selection differs from traditional individual-level selection. It’s like a more complex version of thinking about the relationships that affect an individual. Instead of just your own behavior affecting you, your group – a product of many individuals – is affecting you.

    Our new analysis shows that there is indeed multilevel selection for social behavior in the wild. We found that not only do both social relationships and social groups affect individual animals’ survival and reproduction, but social groups matter just as much, if not more. We calculated the selection gradient, a measure of how strong the selection is on a trait, to be 0.76 for individual traits, while for group traits it was 1.03.

    Four juvenile yellow-bellied marmots play together.
    D.T. Blumstein

    Interestingly, the type of impact on survival and reproduction wasn’t always the same across the two levels. In some cases, selection favored marmots with fewer social relationships while favoring marmots living in more social and connected groups. In human terms, think of an introvert at a really bustling party.

    Evolution and multilevel selection are complex natural processes, so these types of complicated findings are not unexpected.

    Multilevel selection is relevant for human groups, too, which come in many forms, whether friend groups, local communities, businesses we frequent or work at, economies or even entire nations. Our marmot study suggests it’s not uniquely human for groups at every level to have consequences for individual success.

    This work was supported by the UCLA, American Society of Mammalogists, Animal Behaviour Society, Rocky Mountain Biological Laboratory (RMBL), the Natural Sciences and Engineering Research Council of Canada, the University of Ottawa, National Geographic Society, and the U.S. National Science Foundation.

    Daniel T. Blumstein received funding from UCLA, the Rocky Mountain Biological Laboratory (RMBL), the National Geographic Society, and the U.S. National Science Foundation. He is the President of the Board of Trustees at the RMBL where the research was conducted.

    – ref. Wild marmots’ social networks reveal controversial evolutionary theory in action – https://theconversation.com/wild-marmots-social-networks-reveal-controversial-evolutionary-theory-in-action-252710

    MIL OSI – Global Reports –

  • MIL-OSI USA: The United States remained the world’s largest liquefied natural gas exporter in 2024

    Source: US Energy Information Administration

    In-brief analysis

    March 27, 2025

    The United States exported 11.9 billion cubic feet per day (Bcf/d) of liquefied natural gas (LNG) in 2024, remaining the world’s largest LNG exporter. LNG exports from Australia and Qatar—the world’s two next-largest LNG exporters—have remained relatively stable over the last five years (2020–24); their exports have ranged from 10.2 Bcf/d to 10.7 Bcf/d annually, according to data from Cedigaz. Russia and Malaysia have been the fourth- and fifth-largest LNG exporters globally since 2019. In 2024, LNG exports from Russia averaged 4.4 Bcf/d, and exports from Malaysia averaged 3.7 Bcf/d.

    U.S. LNG exports remained essentially flat compared with 2023 mainly because of several unplanned outages at existing LNG export facilities, lower natural gas consumption in Europe, and very limited new LNG export capacity additions since 2022. In December 2024, Plaquemines LNG Phase 1 shipped its first export cargo, becoming the eighth U.S. LNG export facility in service. We estimate that utilization of LNG export capacity across the other seven U.S. LNG terminals operating in 2024 averaged 104% of nominal capacity and 86% of peak capacity, unchanged from the previous year. While Europe (including Türkiye) remained the primary destination for U.S. LNG exports in 2024, accounting for 53% (6.3 Bcf/d) of the total exports, the share of U.S. LNG exports to Asia increased from 26% (3.1 Bcf/d) in 2023 to 33% (4.0 Bcf/d) in 2024. U.S. LNG exports to other regions, including the Middle East, North Africa, and Latin America, also increased last year and accounted for 14% (1.6 Bcf/d) of total exports, compared with 8% (0.9 Bcf/d) in 2023.

    In 2024, U.S. natural gas exports to Europe decreased by 19% (1.5 Bcf/d), mostly to countries in the EU and the UK. U.S. LNG exports increased only to Türkiye and Greece in 2024—by 0.2 Bcf/d and 0.1 Bcf/d, respectively, compared with 2023. Türkiye imported more U.S. LNG compared with the prior year mainly to offset a decline in imports from other countries, such as Egypt and Russia. U.S. LNG exports to other EU countries and the UK decreased by 24% (1.7 Bcf/d) compared with 2023, primarily because of lower natural gas consumption and high storage inventories following the mild 2023–24 winter. At the same time, LNG import capacity in the EU and the UK expanded by more than 40% between 2021 and 2024 and will continue to grow in 2025 once new and expanded regasification facilities in Croatia, Cyprus, and Italy come online.

    As in 2023, the Netherlands, France, and the UK imported the most U.S. LNG among countries in Europe, accounting for a combined 46% (2.9 Bcf/d) of the regional total. Since Germany started LNG imports in December 2022, U.S. LNG exports to Germany have grown and averaged 0.6 Bcf/d in both 2023 and 2024. However, in early 2025, Germany reduced its regasification capacity by terminating a charter for one of its floating storage and regasification units, citing high operational costs.

    In 2024, countries in Asia imported 33% (4.0 Bcf/d) of total U.S. LNG exports. Among countries in Asia, Japan, South Korea, India, and China imported the most U.S. LNG—a combined 76% (3.0 Bcf/d). U.S. LNG imports increased the most in India—by 0.2 Bcf/d. Other countries in Asia imported 24% (1.0 Bcf/d) of U.S LNG.

    In other regions, Egypt—a natural gas producer and LNG exporter—imported 0.3 Bcf/d of LNG from the United States, its first U.S. LNG imports since 2018. In recent years, Egypt’s domestic natural gas consumption, particularly in summer months, exceeded available supply and turned Egypt from an exporter to an importer of natural gas during several months of the year. In Brazil and Colombia, imports of U.S. LNG increased last year because drought reduced hydropower electricity generation and increased demand for generation from natural gas-fired power plants.

    Principal contributor: Victoria Zaretskaya

    MIL OSI USA News –

  • MIL-OSI: GCM Grosvenor Hires Martin Laguerre as Co-Head of Global Diversified Private Equity

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, March 27, 2025 (GLOBE NEWSWIRE) — GCM Grosvenor, a global alternative asset management solutions provider, today announced the hiring of Martin Laguerre as Co-Head of Global Diversified Private Equity. Mr. Laguerre brings 25 years of investment experience spanning private equity, capital solutions, and infrastructure, with a strong track record of direct deal execution, portfolio management, and capital allocation across global markets. In his new role, he will serve as co-head alongside Bernard Yancovich, who also leads the firm’s diversified private equity practice.

    Mr. Laguerre most recently served as a Senior Advisor at Warburg Pincus. Prior to Warburg Pincus, he was Global Head of Private Equity and Capital Solutions at Caisse de dépôt et placement du Québec (CDPQ), where he led a global team overseeing a C$55 billion portfolio of private markets investments.

    Mr. Laguerre also held investment and leadership roles at CPP Investments and General Electric. He began his career in investment banking roles with DLJ/Credit Suisse and Lehman Brothers.

    “We are thrilled to welcome Martin to the firm and our investments leadership team,” said Fred Pollock, Chief Investment Officer at GCM Grosvenor. “His deep global alternative investment expertise and understanding of institutional investor priorities will strengthen our private equity platform. Martin’s leadership will play a key role in enhancing our ability to deliver solutions for our clients.”

    At GCM Grosvenor, Mr. Laguerre will focus on enhancing the firm’s three-decade legacy of private equity investing, leveraging the firm’s deep sourcing network. The firm currently has $30 billion of assets under management in private equity.

    “I am eager to join GCM Grosvenor and collaborate with its talented investment team,” said Martin Laguerre. “The firm’s deep expertise in private markets and its commitment to delivering strong investment outcomes for clients make this an exciting opportunity. I look forward to contributing to its continued success.”

    Mr. Laguerre holds a Bachelor of Commerce in Finance and Management Science from McGill University, the Chartered Financial Analyst© designation from the CFA Institute and an MBA in Finance and International Business from the Booth School of Business at the University of Chicago.

    About GCM Grosvenor 

    GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $80 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform. 

    GCM Grosvenor’s experienced team of approximately 550 professionals serves a global client base of institutional and individual investors. The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul and Sydney. For more information, visit: gcmgrosvenor.com. 

    Media Contact 
    Tom Johnson and Abigail Ruck 
    H/Advisors Abernathy 
    tom.johnson@h-advisors.global / abigail.ruck@h-advisors.global 
    212-371-5999 

    The MIL Network –

  • MIL-OSI: Altus Group Releases Its 2025 Canadian Cost Guide

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 27, 2025 (GLOBE NEWSWIRE) — Altus Group Limited (“Altus Group” or the “Company”) (TSX: AIF), a leading provider of asset and fund intelligence for commercial real estate (“CRE”), today released its 2025 Canadian Cost Guide, an annual assessment of real estate development and infrastructure construction hard costs across all asset classes in major Canadian cities.

    For decades, industry professionals have relied on Altus Group’s Cost Guide to enhance the accuracy and predictability of construction cost estimates and evaluate project risks. Leveraging Altus’ insights from over 6,200 development projects spanning over 1.5 million square feet with a collective value exceeding C$521 billion, the Cost Guide covers hard costs of real estate development and infrastructure projects, delivering detailed insights by asset class, city, and on a per-square-foot or per-unit basis. Construction costs are influenced by both global and local economic conditions, market trends and advancements in building materials, practices and methods. The Cost Guide takes these factors into account to provide a resource for initial budgeting or as a benchmark for estimating costs across various regions and building types.

    “The 2025 Canadian Cost Guide shows that cost increases have been leveling off over the past year and are now more in line with general inflation,” said Colin Doran, Head of Development Advisory, Americas at Altus Group. “The big question is whether that stability will hold. With shifting trade policies, upcoming building code changes, and labour negotiations on the horizon, developers are facing a new wave of complexity—and that’s on top of already high construction costs. Staying agile and tapping into real-time data will be key to navigating what’s ahead.”

    “The threat of new tariffs could throw a wrench into the 2025 cost outlook,” added Peter Norman, Vice President and Economic Strategist at Altus Group. “Even if the immediate impact is muted, it’s still a wild card. It really depends on what goods are affected, how long tariffs stick around, and whether there’s any retaliation—all of which could drive costs even higher.”

    A copy of Altus Group’s 2025 Canadian Cost Guide can be downloaded here. To read an article with commentary on the 2025 Cost Guide from our experts, click here.

    The Cost Guide is for informational purposes only; readers are advised to consult with a qualified professional for advice on specific projects.

    About Altus Group

    Altus Group is a leading provider of asset and fund intelligence for commercial real estate. We deliver intelligence as a service to our global client base through a connected platform of industry-leading technology, advanced analytics, and advisory services. Trusted by the largest CRE leaders, our capabilities help commercial real estate investors, developers, lenders, and advisors manage risks and improve performance returns throughout the asset and fund lifecycle. Altus Group is a global company headquartered in Toronto with approximately 1,900 employees across North America, EMEA and Asia Pacific. For more information about Altus (TSX: AIF) please visit altusgroup.com.

    FOR FURTHER INFORMATION PLEASE CONTACT:

    Elizabeth Lambe
    Director, Global Communications, Altus Group
    (416) 641-9787
    elizabeth.lambe@altusgroup.com

    The MIL Network –

  • MIL-OSI United Kingdom: Celebrate VE Day 80 in Plymouth

    Source: City of Plymouth

    Whether you host your own street party, or join us for the festivities on The Hoe, get ready for an unforgettable celebration, as Plymouth marks 80 years since the end of the Second World War in Europe.  

    Join us on Thursday 8 May, on Plymouth Hoe for a day packed with excitement, entertainment, and heartfelt remembrance. Funded by Plymouth City Council, with support from defence company Babcock International Group (Babcock), which owns and operates Devonport Royal Dockyard, VE Day 80 will start at 10.30am with a flag-raising ceremony and a full parade of Standards at the Belvedere, featuring the Royal Navy Guard and ships in the Sound.  

    The festivities will then continue throughout the day with live music on The Hoe, an evening concert, vibrant street party, stalls, and vintage vehicles. With the evening concluding with a Sunset Guard lighting the Plymouth beacon at 8.40pm.  

    Across the country, millions will be dancing, singing, and partying in the streets on Monday 5 May, to celebrate the end of the war. Plymouth City Council is making it easier for local people to join in by suspending road closure fees for street parties. This will hopefully encourage local people to come together with their neighbours to have their own community celebrations. The deadline to apply for a road closure is 11 April.  

    Councillor Sally Haydon, Cabinet Member with responsibility for Events, says: “This will be a fantastic community event to celebrate VE Day 80. It’s a chance for us all to give thanks and remember those who lost their lives during the war, and to reflect on the past.  

    “Plymouth City Council is proud to be organising a day of celebration on The Hoe. And, whilst residents and communities will need to buy their own Victoria sponges, we are happy to wave the cost of road closures, to enable communities to come together to organise their own celebrations.” 

    John Gane, Managing Director of Babcock’s Devonport facility said: “As part of Plymouth’s proud history and an important part of the fabric of the city today, we are pleased to be supporting such a significant event, which provides an excellent opportunity for the local community to come together and mark 80 years since Victory in Europe Day.  Our Armed Forces play an essential role in the defence of our nation and we are proud to continue supporting them as we aim to create a safe and secure world, together. 

    At the event on The Hoe, The Box will also be bringing history to life with amazing archive film clips showing Plymouth during the war years. Watch these fascinating glimpses into the city’s past on the Big Screen, including the King’s secret visit in 1941 and the bomb damage from the Blitz. 

    Brigadier Mike Tanner OBE ADC – Devonport Naval Base Commander, says:  “From a military perspective, I am always in awe of the enormous courage and sacrifice required to achieve that outcome of “Victory in Europe”.  Both those fighting directly and those back here in Plymouth – who kept the Naval Base running, whilst their houses and city were bombed.   

    “Like every service person, I am always proud of my connection to Plymouth.  But as I think of this 80th anniversary I am massively reminded that today we stand on the shoulders of the giants who led before us.” 

    And let’s not forget, the war in the Far East didn’t end until 15 August 1945, when Japan surrendered. On Friday 15 August, the Royal British Legion will lead the nation in honouring and remembering those who fought and died during the War in the Far East with a service marking 80 years since VJ Day (Victory over Japan) at the National Memorial Arboretum. Plymouth will also commemorate this anniversary with a special church service. 

    Dates for the diary  

    Thursday 5 May: Hold your own street party – with the cost of road closures suspended.  Apply here.

    Thursday 8 May: Celebration on Plymouth Hoe  

    • 10.30am: flag raising, standards and ships in the Sound  
    • 11am: live music on The Hoe, street party, stalls, and vintage vehicles  
    • 5.30pm: evening concert  
    • 8.40pm: Sunset Guard lighting the Plymouth beacon  

    Friday 15 August: Special church service to commemorate VJ Day at St Andrews Church. Further details will follow nearer the time.  

    For more information about VE Day 80 in Plymouth, go to: VE Day 80 – Visit Plymouth 

    MIL OSI United Kingdom –

  • MIL-Evening Report: Grattan on Friday: an ‘arms race’ of promises as prime minister set to call election

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Oops. Anthony Albanese’s own department pre-empted its boss on Thursday. Some unfortunate official, pressing the wrong button, posted on X that the government was in “caretaker” mode, although the prime minister had not yet called the election.

    There was a grovelling apology from the department, saying it was trying to find out why the error occurred.

    No matter. The department was only a day early. Albanese goes to government house on Friday for an election on May 3.

    Indeed, most players and observers had expected, before cyclone Alfred, that the campaign, with its “caretaker” period, would be well under way by now.

    Instead, we’ve had this budget week that’s seen an auction of handouts.

    First, the budget announced the tax cuts, which are more than a year away, and will be delivered in two stages, They are, to use Treasurer Jim Chalmers’ description, “modest”.

    Then came Peter Duttlon’s counter hit – a halving of the excise on petrol and diesel, briefed out ahead of his budget reply. The benefit would come more quickly – but would only last a year. This is a recycled, extended version of the Morrison government’s 2022 excise cut. Labor supported the 2022 move, but rejects Dutton’s proposal.

    The budget we nearly didn’t have gave Chalmers the stage to strut his stuff. Budget weeks traditionally belong to treasurers who, among other things, do a walkabout through the ranks of the journalists who are “locked up” and ploughing through the embargoed budget documents. So some old hands were surprised when the PM appeared with a senior staffer to do his own walkabout. Precedents didn’t come to mind.

    Labor sought to wedge the Coalition by pushing through legislation to enshrine the tax cuts. The Coalition voted against them in parliament, then declared if elected, it would repeal them. Dutton has confirmed he won’t be announcing any policy for tax cuts closer to the election.

    For the Liberals, to be seen opposing an income tax cut is unusual and risky. It’s made for campaign slogans. “The only thing they don’t want to cut is people’s taxes,” Albanese declared. “Labor is the party of lower taxes.” Both sides will be watching their polling carefully in coming days to see whether this stand rebounds against the Liberals.

    The opposition believes its excise reduction will hit the mark, especially in the seats it is most targeting – those in the outer suburbs where people drive a lot.

    But Kos Samaras, from the Redbridge political consultancy, predicts people will see this “arms race” of hand outs as providing just band-aids, with the measures likely to cancel each other out.

    Apart from the excise measure the other big initiative in Dutton’s reply was his plan for a gas reservation scheme.

    This is designed to fill what has been an apparent big hole in the opposition’s energy policy. It has its ambitious (many would say unrealistic) nuclear plan for the long term. But if it is arguing it would be able to bring down energy bills any time soon, it needs a here-and-now policy to do so.

    Its answer is to turn to gas. That requires ensuring a reliable and adequate supply for the local market, to drive down the price.

    “Gas sold on the domestic market will be de-coupled from overseas markets to protect Australia from international price shocks,” Dutton said in his Thursday speech. “And this will drive down new wholesale domestic gas prices from over $14 per gigajoule to under 10 per gigajoule.”

    Dutton told the ABC after his address that the price fall could be achieved by the end of this calendar year.

    That estimate sounds like a hostage to fortune. Precision can be dangerous when it comes to energy promises. Who can forget that number Labor put out so confidently before the last election – a $275 fall in household power bills?

    Critics will find all sorts of issues with Dutton’s east coast reservation scheme, including that it would be heavily interventionist and there’s no guarantee it would work. Labor says Dutton is reheating one of its old plans, and that the government has the gas situation under control anyway.

    The opposition says its plan is in line with warnings on gas supply released by the Australian Competition and Consumer Commission on Thursday.

    The potential effectiveness of Dutton’s gas plan will be highly contested. What is not in dispute is that the partisan divide over the energy transition will be one of the central issues of the campaign.

    This week the prime minister has had a spring in his step. The polls have improved somewhat, and the “vibe” seems to be with him. Responding to a challenge from a couple of podcasters, he playfully put the phrase, “delulu with no solulu” into a speech to describe his opponents. Never mind that middle-aged politicians sound slightly absurd when they try to be hip. Albanese is a confidence player and at the moment his confidence is up.

    The tactical games aren’t just around the tax cuts. Calling the election first thing Friday carpet bombs Dutton’s budget reply.

    And once the election is called, parliament will be prorogued and that will scrap the Friday sitting of estimates committees, denying the opposition an opportunity to quiz officials about the budget and other matters. (On Thursday, the “caretaker” fiasco became public during an estimates hearing, surprising officials from the PM’s department who happened to be appearing at the time.)

    For his part, Dutton understands the odds against him.

    Political scientist Rodney Tiffen, in an analysis of federal campaigns from 1972 to 2022, found no example where an opposition had started the campaign roughly equal in the polls and won, and three where it had lost (1980, 1987, and 2004). “All winning oppositions started the campaign already ahead,” Tiffen writes in a chapter in The Art of Opposition.

    In his budget reply, Dutton delivered one revealing line: “This election is as much about leadership as it’s about policy”.

    Dutton casts himself as the leader who would make the tough decisions. “I will lead with conviction – not walk both sides of the street,” he said.

    “I will be a strong leader and a steady hand – just as John Howard was.”

    Dutton might see Howard as his role model, but it will be a big leap of faith for many voters to see the opposition as a contemporary Howard.

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

    – ref. Grattan on Friday: an ‘arms race’ of promises as prime minister set to call election – https://theconversation.com/grattan-on-friday-an-arms-race-of-promises-as-prime-minister-set-to-call-election-251257

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: BIO-key Trims 2024 Net Loss 49% to $4.3M, Reflecting Higher Gross Margin and Lower Operating Costs, Offsetting 11% Revenue Decrease Due to Business Transition; Hosts Investor Call Today at 10am ET

    Source: GlobeNewswire (MIL-OSI)

    HOLMDEL, N.J., March 27, 2025 (GLOBE NEWSWIRE) — BIO-key® International, Inc. (Nasdaq: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) solutions featuring passwordless, phoneless and token-less Identity-Bound Biometric (IBB) authentication, announced results for its fourth quarter (Q4’24) and year ended December 31, 2024 (2024). BIO-key’s 2023 results, which were restated and filed with the Company’s 2023 Form 10-K, are reflected in this release for comparison purposes. BIO-key will host an investor call today, Thursday, March 27th at 10:00am ET (details below).

    BIO-key CEO, Mike DePasquale commented, “From a strategic standpoint, we substantially strengthened our business in 2024, growing our high-margin software license fee revenue by 20% while exiting our low margin services relationship with Swivel Secure to focus on BIO-key solutions such as PortalGuard IAM and our Identity-Bound Biometrics. This transition away from Swivel Secure licensed solutions resulted in an 11% decline in 2024 revenue, but enabled us to substantially improve overall profitability despite lower revenue.

    “We also reduced operating expenses by 6% in 2024 and reduced cash used in operations by 23% to $2.91M in 2024 from $3.79M in 2023. With this transition behind us, we are in a much stronger position to grow and convert top-line revenue into bottom-line contribution.”

    Recent Highlights

    Mr. DePasquale, continued, “Moving forward, we are seeing very encouraging order demand for our solutions in national defense, financial services and education applications and particular strength in EMEA countries. We are seeing growing interest in our unique capabilities in passwordless, phoneless and tokenless authentication solutions which are best positioned to meet the most pressing security and usability challenges. Our biometric solutions are gaining solid traction in international markets across government, financial services and civil defense applications.

    “For example, in Q4’24 we secured a $910K contract with a long-time financial services client to implement our biometric identification technology across its branches. The customer has already enrolled fingerprint biometrics for over 25M end-users and is now upgrading to BIO-key’s “fingerprint-only,” one-to-many identification system. Our solution is expected to trim approximately 30 seconds from each customer interaction, resulting in both an improved customer experience and substantial long-term savings.

    “Our longstanding relationship with one of the world’s most esteemed defense ministries saw expanded deployment of our biometric solutions in 2024, a trend we expect to continue in 2025 and beyond. We currently provide authentication and digital security services for over 80,000 ministry personnel and believe that deployment could double or triple in coming years. To date, the ministry has generated $3.3M in total hardware and license revenue, and we are now working under a new long term procurement agreement initiated in Q3 2024.

    “This past January, we forged a partnership with the National Bank of Egypt, which is integrating BIO-key’s PortalGuard IAM platform and an industry-leading Identity Governance solution. This project, led by our partner, Raya Information Technology, leverages PortalGuard’s advanced IAM, MFA, and SSO capabilities to secure the digital identities of the bank’s 30,000 employees, and we believe there is potential down the road for this solution to be utilized with its customers.

    “BIO-key has also built an established and growing presence in education across over 100 institutions serving over 4M end users. In January, three additional colleges and universities migrated to PortalGuard IDaaS and the Wyoming Department of Education deployed PortalGuard IDaaS, adding a total of over 50,000 IDaaS end users. Building on this momentum, after an extensive RFP and review process, we executed a strategic partnership and Joint Purchase Agreement (JPA) with California’s Education Technology Joint Powers Authority (Ed Tech JPA). The agreement makes PortalGuard an approved IAM solution for the alliance’s 195 K-12 schools and districts, collectively serving over 2.6M students, uniquely positioning our offerings to comply solve Ed Tech JPA member IAM requirements, including compliance with emerging restrictions on the use of personal mobile devices in schools.

    “In an effort to seed future market opportunities, in December we announced a strategic collaboration with Fiber Food Systems to explore IAM use cases across the food industry. As part of this agreement, we also acquired shares of Boumarang, Inc. from Fiber in exchange for BIO-key stock. Boumarang is a pioneering force in sustainable, AI-driven, hydrogen-powered, long-range drone technology, a developing market with a clear need for a state-of-the-art IAM solutions. The equity exchange strengthened our balance sheet and paved the way to a strategic collaboration with Guinn Partners to integrate our biometric technology with Guinn’s expertise in IoT and autonomous systems, targeting applications across aerospace, defense, healthcare, logistics and smart cities. These initiatives will take time to develop, but we believe that each of them has the potential to create attractive new commercial opportunities for BIO-key.

    “We are off to a strong start in 2025 and believe we are well positioned to deliver improved top- and bottom-line performance. However, given the timing of large customer orders, our financial performance has the potential to fluctuate significantly on a quarter-to-quarter basis. Given increasing interest in our biometric solutions, growing adoption of passwordless, phoneless and tokenless IAM solutions, and the transition we executed in 2024 to a focus on higher-margin BIO-key solutions, we are very optimistic regarding our prospects this year. We remain focused on reducing costs to lower our breakeven level as we continue to explore new markets and strategic partnerships that could advance our path to sustained profitability and positive operating cash flow.”

    Financial Results
    Please note that the audit our FY2024 financial statements has not been completed by our independent registered public accounting firm as of the date of this press release and are therefore subject to change.

    2024 revenues decreased approximately 11% to $6.9M from $7.8M in 2023, largely due to BIO-key’s exit from a Swivel Secure Limited (SSL) distribution agreement and transition to selling BIO-key branded solutions in the EMEA region. The impact of this strategic decision contributed to more high-margin software license fee revenue and a reduction in services revenue from third-party products which carry a much lower gross margin. As a result, 2024 license fee revenue increased 20% to $5.2M in 2024 vs. $4.3M in 2023; service fees declined 50% to $1.1M in 2024 from $2.2 million in 2023; and hardware revenue declined 47% to $0.6M in 2024 from $1.2M in 2023.

    In Q4’24 license fee revenue increased 77% to $1.0M; services revenue decreased 28% to $0.3M and hardware revenue declined 88% to $0.1M, also reflecting the impacts of the strategic transition from SSL products and services toward BIO-key solutions.

    Gross profit grew to $5.6M in 2024 from $1.4M in 2023, due to a $3.6M hardware reserve taken in 2023 and the impact of growth in higher-margin license sales and a reduction in lower-margin services and hardware revenue. Exiting the SSL agreement contributed to lower costs to support deployments, including software license fees included in sales of Swivel Secure offerings vs. BIO-key’s internally developed software solutions. This resulted in gross profit increasing to $1.2M in Q4’24 vs. negative $95,496 in Q4’23, which included a $1.1M hardware reserve. Both Q4’24 and 2024 gross profit benefited from the sale of $213,005 of fully reserved hardware inventory.

    BIO-key reduced its operating expenses by $606,409 to $9.7M in 2024 from $10.3M in 2023, due to a reduction of SG&A costs by $722,563, partially offset by a $116,154 increase in research, development and engineering expense to support new product development. Proactive cost reductions included lower headquarters expenses, sales personnel costs, and marketing show expenses, partially offset by an increase in professional services, principally related to financing activities. BIO-key’s Q4’24 operating expenses were flat year-over-year at $2.6M.

    Reflecting greater gross profit and lower operating expenses, BIO-key’s 2024 net loss improved to $4.3M, or ($2.10) per share, from a net loss of $8.7M, or ($15.21) per share, in 2023. Similarly, BIO-key’s Q4’24 net loss improved to $1.6M, or ($0.53) per share, vs. $2.4M, or ($3.99) per share, in Q4’23. 2023 Results included hardware reserves of $3.6M and $1.086M in 2023 and Q4’23, respectively. 2024 results included a positive hardware reserve adjustment of $213,005 in Q4 for the sale of hardware that was previously reserved.

    Balance Sheet
    As of December 31, 2024, BIO-key had $1.9M of current assets, including $438,000 of cash and cash equivalents, $0.8M of net accounts receivable and due from factor, and $378,000 of inventory. This compares to current assets of $2.6M at December 31, 2023, including approximately $511,000 of cash and cash equivalents, $1.3M of net accounts receivable and due from factor, and $446,000 of inventory.

    Conference Call Details

    Date / Time: Thursday, March 27th at 10 a.m. ET
    Call Dial In #: 1-877-418-5460 U.S. or 1-412-717-9594 Int’l
    Live Webcast / Replay: Webcast & Replay Link – Available for 3 months.
    Audio Replay: 1-877-344-7529 U.S. or 1-412-317-0088 Int’l; code 6114035
       

    About BIO-key International, Inc. (www.BIO-key.com)

    BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over forty million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.

    BIO-key Safe Harbor Statement
    All statements contained in this press release other than statements of historical facts are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 (the “Act”). The words “estimate,” “project,” “intends,” “expects,” “anticipates,” “believes” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management’s beliefs, as well as assumptions made by, and information currently available to, management pursuant to the “safe-harbor” provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital to satisfy working capital needs; our ability to continue as a going concern; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology industry; market acceptance of biometric products generally and our products under development; our ability to convert sales opportunities to customer contracts; our ability to expand into Asia and other foreign markets; our ability to migrate Swivel Secure customers to BIO-key and Portal Guard offerings; fluctuations in foreign currency exchange rates; delays in the development of products, the commercial, reputational and regulatory risks to our business that may arise as a consequence of the restatement of our financial statements, including any consequences of non-compliance with Securities and Exchange Commission and Nasdaq periodic reporting requirements; our temporary loss of the use of a Registration Statement on Form S-3 to register securities in the future;, any disruption to our business that may occur on a longer-term basis should we be unable to continue to maintain effective internal controls over financial reporting, and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2023 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise.

    Engage with BIO-key

    Investor Contacts

    William Jones, David Collins
    Catalyst IR
    BKYI@catalyst-ir.com or 212-924-9800

     
    BIO-key International, Inc. and Subsidiaries
    CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
    (Unaudited)
     
      Three Months Ended     Twelve Months Ended  
      December 31,     December 31,  
      2024     2023     2024     2023  
    Revenues                              
    Services $ 344,444     $ 478,005     $ 1,108,506     $ 2,218,885  
    License fees   1,023,701       577,669       5,189,370       4,342,010  
    Hardware   94,133       769,427       631,695       1,194,010  
    Total revenues   1,462,278       1,825,101       6,929,571       7,754,905  
    Costs and other expenses                              
    Cost of services   73,317       221,940       396,274       861,936  
    Cost of license fees   146,122       152,000       589,505       1,174,919  
    Cost of hardware   255,927       460,157       516,611       700,231  
    Cost of hardware – reserve   (213,005 )     1,086,500       (213,005 )     3,586,500  
    Total costs and other expenses   262,361       1,920,597       1,289,385       6,323,586  
    Gross profit   1,199,917       (95,496 )     5,640,186       1,431,319  
                                   
    Operating Expenses                              
    Selling, general and administrative   1,815,155       2,040,438       7,140,147       7,862,710  
    Research, development and engineering   812,072       587,900       2,511,080       2,394,926  
    Total Operating Expenses   2,627,227       2,628,338       9,651,227       10,257,636  
    Operating loss   (1,427,310 )     (2,723,834 )     (4,011,041 )     (8,826,317 )
    Other income (expense)                              
    Interest income   57       5,589       110       11,533  
    Gain from sale of asset           20,000               20,000  
    Loss on foreign currency transactions   (13,004 )     (24,000 )     (13,004 )     (39,000 )
    Loan fee amortization   (60,000 )     –       (124,000 )     –  
    Change in fair value of convertible note   –       131,497       –       396,203  
    Interest expense   (66,932 )     (58,890 )     (175,755 )     (218,270 )
    Total other income (expense), net   (139,879 )     74,196       (312,649 )     170,466  
                                   
    Loss before provision for income tax   (1,567,189 )     (2,649,638 )     (4,323,690 )     (8,655,851 )
                                   
    Provision for (income tax) tax benefit   –       276,825       –       134,014  
                                   
    Net loss $ (1,567,189 )   $ (2,372,813 )   $ (4,323,690 )   $ (8,521,837 )
                                   
    Comprehensive loss:                              
    Net loss $ (1,567,189 )   $ (2,372,813 )   $ (4,323,690 )   $ (8,521,837 )
    Other comprehensive income (loss) – Foreign currency translation adjustment   (25,409 )     138,029       26,469       265,423  
    Comprehensive loss $ (1,592,598 )   $ (2,234,784 )   $ (4,297,221 )   $ (8,256,414 )
                                   
    Basic and Diluted Loss per Common Share* $ (0.53 )   $ (3.99 )   $ (2.10 )   $ (15.21 )
                                   
    Weighted Average Common Shares Outstanding*                              
    Basic and diluted   3,032,240       560,278       2,059,884       560,278  
     
    *Periods reflect impact of BIO-key’s 1-for-18 reverse stock split effective December 21, 2023.
     
    Please note that the audit our FY2024 financial statements has not been completed by our independent registered public accounting firm as of the date of this press release and are therefore subject to change. 
     
    BIO-key International, Inc. and Subsidiaries
    CONSOLIDATED BALANCE SHEETS
     
        December 31,  
        2024     2023  
    ASSETS                
    Cash and cash equivalents   $ 437,604     $ 511,400  
    Accounts receivable, net     718,229       1,201,526  
    Due from factor     74,170       99,320  
    Inventory, net of reserve     378,307       445,740  
    Prepaid expenses and other     278,648       364,171  
    Total current assets     1,886,958       2,622,157  
    Equipment and leasehold improvements, net     140,198       220,177  
    Capitalized contract costs, net     409,426       229,806  
    Deposits and other assets     7,976       –  
    Operating lease right-of-use assets     73,372       36,905  
    Other assets     5,000,000       –  
    Intangible assets, net     1,097,630       1,407,990  
    Total non-current assets     6,728,602       1,894,878  
    TOTAL ASSETS   $ 8,615,560     $ 4,517,035  
                     
    LIABILITIES                
    Accounts payable   $ 818,187     $ 1,316,014  
    Accrued liabilities     1,278,732       1,305,848  
    Note payable     1,525,977       –  
    Government loan – BBVA Bank, current portion     132,731       138,730  
    Deferred revenue – current     773,267       414,968  
    Operating lease liabilities, current portion     24,642       37,829  
    Total current liabilities     4,553,536       3,213,389  
    Deferred revenue, net of current portion     196,237       28,296  
    Deferred tax liability     22,998       22,998  
    Government loan – BBVA Bank, net of current portion     44,762       188,787  
    Operating lease liabilities, net of current portion     48,994       –  
    Total non-current liabilities     312,991       240,081  
    TOTAL LIABILITIES     4,866,527       3,453,470  
                     
    Commitments                
                     
    STOCKHOLDERS’ EQUITY                
    Common stock — authorized, 170,000,000 shares; issued and outstanding; 3,715,483 and 1,032,777 of $.0001 par value at December 31, 2024 and December 31, 2023, respectively     372       103  
    Additional paid-in capital     133,030,271       126,047,851  
    Accumulated other comprehensive loss     49,290       22,821  
    Accumulated deficit     (129,330,900 )     (125,007,210 )
    TOTAL STOCKHOLDERS’ EQUITY     3,749,033       1,063,565  
    TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY   $ 8,615,560     $ 4,517,035  
     
    All BIO-key shares issued and outstanding for all periods reflect BIO-key’s 1-for-18 reverse stock split, which was effective December 21, 2023.
     
    Please note that the audit our FY2024 financial statements has not been completed by our independent registered public accounting firm as of the date of this press release and are therefore subject to change. 
     
    BIO-key International, Inc. and Subsidiaries

    CONSOLIDATED STATEMENTS OF CASH FLOWS
     
        Years ended December 31,  
        2024     2023  
                     
    CASH FLOW FROM OPERATING ACTIVITIES:                
    Net loss   $ (4,323,690 )   $ (8,521,837 )
    Adjustments to reconcile net loss to cash used for operating activities:                
    Depreciation     93,026       75,136  
    Amortization of intangible assets and write-off     304,983       354,558  
    Interest payable on Note     164,589       –  
    Loss on foreign currency     13,004       39,000  
    Reserve for inventory     (213,005 )     3,586,500  
    Allowance for doubtful account     (372,532 )     750,000  
    Amortization of debt discount     124,000       –  
    Amortization of capitalized contract costs     175,900       171,291  
    Share based and warrant compensation for employees and consultants     225,245       226,725  
    Stock based fees to directors     18,006       39,007  
    Bad debt expense     100,000       100,000  
    Change in fair value of convertible note     –       (396,203 )
    Deferred income tax benefit     –       (134,014 )
    Amortization of operating lease right-of-use assets     79,521       –  
    Change in operating assets and liabilities:                
    Accounts receivable     855,829       (428,742 )
    Due from factor     25,150       (49,820 )
    Capitalized contract costs     (355,520 )     (118,028 )
    Deposits     (7,976 )     –  
    Right of use asset     (115,988 )     160,449  
    Inventory     280,438       402,129  
    Prepaid expenses and other     85,523       (21,465 )
    Accounts payable     (502,987 )     57,725  
    Income tax payable     –       (121,764 )
    Accrued liabilities     (27,116 )     275,561  
    Deferred revenue     526,240       (71,288 )
    Operating lease liabilities     (66,712 )     (168,376 )
    Net cash used for operating activities     (2,914,072 )     (3,793,456 )
    CASH FLOWS FROM INVESTING ACTIVITIES:                
    Capital expenditures     (13,047 )     (1,000 )
    Net cash used for investing activities     (13,047 )     (1,000 )
    CASH FLOWS FROM FINANCING ACTIVITIES:                
    Proceeds from public offerings             4,296,260  
    Repayment of convertible notes             (2,200,000 )
    Proceeds from the exercise of warrants     1,908,099       320  
    Costs incurred for issuance of common stock     (172,350 )     (561,367 )
    Proceeds from issuance of note payable     2,000,000       –  
    Repayment of note payable     (762,611 )     –  
    Repayment of government loan     (150,024 )     (119,251 )
    Proceeds from Employee Stock Purchase Plan     3,740       17,478  
    Net cash (used in) provided by financing activities     2,826,854       1,433,440  
    Effect of exchange rate changes     26,469       236,894  
    NET DECREASE IN CASH AND CASH EQUIVALENTS     (73,796 )     (2,124,122 )
    CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR     511,400       2,635,522  
    CASH AND CASH EQUIVALENTS, END OF YEAR   $ 437,604     $ 511,400  
     
    All BIO-key shares issued and outstanding for all periods reflect BIO-key’s 1-for-18 reverse stock split, which was effective December 21, 2023.
     
    Please note that the audit our FY2024 financial statements has not been completed by our independent registered public accounting firm as of the date of this press release and are therefore subject to change. 

    The MIL Network –

  • MIL-OSI: Element and Arval Celebrate 30 Year Alliance with Release of New Insights Focused on the Future of Fleet and Mobility 

    Source: GlobeNewswire (MIL-OSI)

    • Fleet and mobility stakeholders continue their fleet electrification strategies, with 85 per cent of them now shifting their focus to charging solutions and strategies.
    • 91 per cent of companies anticipate their fleet will either remain stable or grow in the next three years. 
    • Nearly half of the companies recognize that mobility policies and solutions are important levers for talent acquisition and employee retention.

    TORONTO, March 27, 2025 (GLOBE NEWSWIRE) — Element Fleet Management Corp. (TSX:EFN) (“Element” or the “Company”), the largest publicly traded, pure-play automotive fleet manager in the world, together with global alliance partner, Arval, a major player in vehicle leasing and specialist in mobility solutions, are marking the 30th anniversary of the Element-Arval Global Alliance (“EAGA” or the “Alliance”) with new insights published in the 2025 Fleet and Mobility Barometer.

    “Our global alliance uniquely offers our fleet and mobility customers the expertise and relationship management needed to deploy strategies across 55 different countries, ensuring solutions meet local needs and maintain very high quality standards,” says Bart Beckers, Chief Commercial Officer of Arval. “The Element-Arval Global Alliance purpose is to support and assist our international clients to successfully build and run their global fleet strategy.“

    For 30 years the EAGA has been a global leader within fleet and mobility management. To expand its presence in additional geographies, notably in Asia, the Alliance welcomed Sumitomo Mitsui Auto Service (SMAS) in 2023 and now counts eight members. With presence in 55 countries and the Alliance Members managing 4.5 million vehicles, the Alliance delivers comprehensive expertise and resources to empower their international clients across the globe, helping them to manage their fleets at a strategic, tactical, and operational level.

    “We greatly value the extensive relationship we’ve built with Arval and are proud that our global Alliance remains the longest standing across fleet and mobility,” says David Madrigal, Executive Vice President and Chief Commercial Officer. “The insights captured within the annual Fleet and Mobility Barometer we’ve produced together represent one of the many ways we leverage our partnership, shared expertise, and extensive global presence to deliver comprehensive, scalable, and tailored solutions to meet our clients’ needs across the globe.”

    The Fleet and Mobility Barometer (the “Barometer”) is an industry-leading annual publication of the Arval Mobility Observatory and Element-Arval Global Alliance, offering a robust and detailed look into evolving industry trends, and providing country-specific insights, deep-dive policy considerations, as well as industry-leading benchmarking. This year’s report addresses three main areas of fleet and mobility transformation: environmental sustainability, cost efficiency, and employee satisfaction.

    Key insights from the Barometer include:

    1. Companies are overwhelmingly prioritizing environmental sustainability through fleet electrification, with 85 per cent of the companies interviewed having a charging policy or planning to have one in the future. The report also highlights the varying rates of electrification between passenger cars and Light Commercial Vehicles (LCVs), with Europe leading the trend.
    2. Cost efficiency is being observed through innovative methods such as full-service leasing. Despite persistent economic and geopolitical challenges, 91 per cent of companies anticipate their fleet will either remain stable or grow in the next three years.
    3. Employee satisfaction is now at the centre of mobility and fleet transformation, with 45 per cent of companies mentioning human resource needs as the main reason for developing employee mobility policies and solutions. The report emphasizes the key role of telematics and connected vehicle technologies for promoting responsible driving, improving driver behavior, and reducing accidents.

    Initiated by the Arval Mobility Observatory nearly 20 years ago, Element joined the global Barometer in 2023 to expand benchmarking capabilities to include trends across the United States, Canada, Mexico, Australia, and New Zealand. This year’s benchmarking survey involves more than 8,000 interviews with corporate fleet decision-makers across 28 countries and provides a forward-looking perspective on the next three years. 

    To read more about the Element-Arval Global Alliance and the 2025 Fleet and Mobility Barometer, visit Global Fleet Management Solutions | Element-Arval Global Alliance – Element Arval.

    About Element Fleet Management
    Element Fleet Management (TSX: EFN) is the largest publicly traded pure-play automotive fleet manager in the world. As a Purpose-driven company, we provide a full range of sustainable and intelligent mobility solutions to optimize and enhance fleet performance for our clients across North America, Australia, and New Zealand. Our services address every aspect of our clients’ fleet requirements, from vehicle acquisition, maintenance, route optimization, risk management, and remarketing, to advising on decarbonization efforts, integration of electric vehicles and managing the complexity of gradual fleet electrification. Clients benefit from Element’s expertise as one of the largest fleet solutions providers in its markets, offering economies of scale and insight used to reduce operating costs and enhance efficiency and performance. At Element, we maximize our clients’ fleet so they can focus on growing their business. For more information, please visit: www.elementfleet.com

    About Arval:
    Arval is a major actor in full-service vehicle leasing and a specialist in mobility solutions founded in 1989. Arval is fully owned by BNP Paribas and positioned within the Group’s Commercial, Personal Banking & Services division. Arval was leasing nearly 1.8 million vehicles as of the end of 2024. Every day, nearly 8,600 Arval employees in 29 countries offer flexible solutions to make journeys seamless and sustainable for its customers, ranging from large international corporate groups to smaller companies and private customers.

    Arval is a founding member of the Element-Arval Global Alliance. The fleets of all the Alliance members represent more than 4.5 million vehicles in 55 countries.

    Arval has been rewarded with the highest level of the EcoVadis medal, the platinum level, placing its CSR strategy in the Top 1% of the companies assessed.
    www.arval.com

    About BNP Paribas:
    Leader in banking and financial services in Europe, BNP Paribas operates in 64 countries and has nearly 178,000 employees, including more than 144,000 in Europe. The Group has key positions in its three main fields of activity: Commercial, Personal Banking & Services for the Group’s commercial & personal banking and several specialised businesses including BNP Paribas Personal Finance and Arval; Investment & Protection Services for savings, investment and protection solutions; and Corporate & Institutional Banking, focused on corporate and institutional clients. Based on its strong diversified and integrated model, the Group helps all its clients (individuals, community associations, entrepreneurs, SMEs, corporates and institutional clients) to realise their projects through solutions spanning financing, investment, savings and protection insurance. In Europe, BNP Paribas has four domestic markets: Belgium, France, Italy and Luxembourg. The Group is rolling out its integrated commercial & personal banking model across several Mediterranean countries, Türkiye, and Eastern Europe. As a key player in international banking, the Group has leading platforms and business lines in Europe, a strong presence in the Americas as well as a solid and fast-growing business in Asia-Pacific. BNP Paribas has implemented a Corporate Social Responsibility approach in all its activities, enabling it to contribute to the construction of a sustainable future, while ensuring the Group’s performance and stability.
    https://group.bnpparibas/en/

    This press release contains certain forward-looking statements and forward-looking information regarding Element, its business and the fleet industry, which are based upon Element’s current expectations, estimates, projections, assumptions and beliefs. In some cases, words such as “plan”, “expect”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “could”, “predict”, “project”, “model”, “forecast”, “will”, “potential”, “target, “by”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur are intended to identify forward-looking statements and forward-looking information. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking statements or information. Forward-looking statements and information in this news release may include, but are not limited to, statements with respect to, among other things, the Company’s expectations regarding new product offerings, including the benefits of the products, client demand and profitability, the Company’s ability to execute on its product plans, and the Company’s expectations regarding the risk and insurance industries. By their nature, these statements require us to make assumptions and are subject to inherent risks and uncertainties that may be general or specific, which give rise to the possibility that our predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that our assumptions may not be correct. External factors outside of Element’s reasonable control may impact our ability to achieve our goals and expectations, including industry dynamics, legislation and regulatory actions, the failure of third parties to comply with their obligations to us and our affiliates or associates, client decisions and preferences. These and other factors may cause actual results to differ materially from the expectations expressed in the forward-looking statements and may require Element to adjust its initiatives and activities. The forward-looking statements in this news release speak only as of the date hereof and are presented for the purpose of assisting our stakeholders and others in understanding our objectives and strategic priorities and may not be appropriate for other purposes. We do not undertake to update any forward-looking statement except as required by law. In addition, a discussion of some of the material risks affecting Element and its business appears under the heading “Risk Management & Risk Factors” in Element’s Management Discussion and Analysis for the twelve-month period ended December 31, 2023 and the three and nine-month period ended September 30, 2024, and under the heading “Risk Factors” in Element’s Annual Information Form for the year ended December 31, 2023, as well as Element’s other filings with the Canadian securities regulatory authorities, which have been filed on SEDAR+ and can be accessed on Element’s profile on www.sedarplus.com.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fa484c54-9cb4-4c81-835c-d59ab8841d95

    The MIL Network –

  • MIL-OSI Economics: Media release: Coalition misfires in east coast gas market fix – Australian Energy Producers

    Source: Australian Petroleum Production & Exploration Association

    Headline: Media release: Coalition misfires in east coast gas market fix – Australian Energy Producers

    The Coalition’s plan to force an oversupply of gas into the east coast market in an attempt to artificially reduce prices is yet another damaging market intervention that will drive away investment and exacerbate the supply challenges in the longer term.  

    Australian Energy Producers Chief Executive Samantha McCulloch said industry agreed that addressing projected gas supply shortfalls on the east coast of Australia and ensuring reliable and affordable gas for Australian households and businesses was a national priority.  

    “Industry welcomes the Coalition’s commitment to fast-track new gas supply and streamline approvals, but the benefits of these reforms risk being undermined by deliberately oversupplying the market,” Ms McCulloch said.  

    “AEMO’s latest Gas Statement of Opportunities highlights that the east coast market will face gas supply shortfalls from 2028. There is an urgent need to develop new supply, particularly in the southern states, but the projected shortfalls are a fraction of what the Coalition is aiming to force into the market.”  

    “This glut of gas will deter investment in new supply and undermine our trading relationships.” 

    Ms McCulloch said the plan also ignored the reality that the pipelines from Queensland to Victoria already operate at capacity during peak periods, and even if it could be physically moved south there is currently nowhere to store it.  

    “Industry stands willing to engage constructively with government on considered policies that deliver more gas for Australians and attract continued investment in new gas projects to ensure Australians have reliable and affordable gas to 2050 and beyond,” she said. 

    “We urge all parties to work with industry on sustainable solutions that provide certainty and stability for investment in the new gas exploration and development that is needed for Australia’s long-term energy security.”     

    Ms McCulloch said industry was not looking for handouts but needed policy certainty and a return to normal market conditions to support continued investment in gas supply.  

    “Australia needs long-term solutions that do not further distort the gas market,” she said. 

    Media Contact:  0434 631 511

    MIL OSI Economics –

  • MIL-OSI USA: Justice Department Launches Anticompetitive Regulations Task Force

    Source: US State of California

    Task Force Invites Public Input Targeting Red Tape that Hinders Free Market Competition

    Today, the Justice Department launches an Anticompetitive Regulations Task Force to advocate for the elimination of anticompetitive state and federal laws and regulations that undermine free market competition and harm consumers, workers, and businesses. The Antitrust Division has a long history of advocacy against laws and regulations that create unnecessary barriers to competition.  The Task Force will surge resources to these efforts and invite public comments to support the Administration’s mission to unwind laws and regulations that hinder business dynamism and make markets less competitive.    

    “Realizing President Trump’s economic Golden Age will require unwinding burdensome regulations that stifle free market competition. This Antitrust Division will stand against harmful barriers to competition whether imposed by public regulators or private monopolists,” said Assistant Attorney General Abigail Slater of the Justice Department’s Antitrust Division. “We look forward to working with the public and with other federal agencies to identify and eliminate anticompetitive laws and regulations.”

    On Jan. 31, President Trump signed Executive Order 14192 declaring “the policy of the executive branch” to be that federal agencies should “alleviate unnecessary regulatory burdens placed on the American people.” Consistent with this policy, on Feb. 19, President Trump signed Executive Order 14219 directing agencies to “initiate a process to review all regulations” and identify regulations that, among other things, “impose undue burdens on small businesses and impede private enterprise and entrepreneurship.” Consistent with longstanding practice, the Antitrust Division will support federal agencies’ deregulatory initiatives by sharing its market expertise on regulations that pose the greatest barriers to economic growth.

    Regulatory capture is a well-studied phenomenon in which agencies become “captured” by special interests and big businesses, rather than serving the interests of the American people. But when regulations serve the few and impose undue burdens on small businesses, private enterprise, and entrepreneurs, they also harm competition and ultimately hurt American consumers, workers, and businesses. For example, regulations can increase compliance costs, preventing businesses from competing on a level playing field with powerful corporations. Regulations can also discourage or even intentionally prohibit small businesses and new products from entering markets and lowering prices for American families. In contrast, eliminating unnecessary anticompetitive regulations makes it easier for businesses to compete. More competition empowers the American people — not government regulators — to drive economic progress and innovation. When every American has a fair opportunity to enjoy the benefits of competitive free markets, every American has an opportunity to realize the American dream.

    By identifying and working with state and federal agencies to revise or eliminate these laws and regulations, the Anticompetitive Regulations Task Force will contribute to making the American dream a reality. As a first step, the Antitrust Division will initiate a public inquiry to identify unnecessary laws and regulations that raise the highest barriers to competition. In particular, the Division will seek information from the public about laws and regulations that make it more difficult for businesses to compete effectively, especially in markets that have the greatest impact on American households, including:

    • Housing: Americans spend more than one-third of their monthly income on housing, and the cost of owning or renting a home continues to rise. Laws and regulations in housing markets can contribute to these problems by making it more difficult for companies to build and ordinary Americans to rent or buy.
    • Transportation: Laws and regulations in areas like airlines, rail, and ocean shipping can grant antitrust immunities, outright monopolies, or safe harbors for conduct that undermines competition. As a result, Americans pay more for travel, fuel, and a variety of other products.
    • Food and Agriculture: By the end of the Biden-Harris Administration, grocery prices were 27% higher than at the end of the first Trump Administration. Eliminating unnecessary anticompetitive regulations will help farmers, growers, and ranchers increase the amount of food they produce and unlock lower prices for American consumers.
    • Healthcare: Laws and regulations in healthcare markets too often discourage doctors and hospitals from providing low-cost, high-quality healthcare and instead encourage overbilling and consolidation. These kinds of unnecessary anticompetitive regulations put affordable healthcare out of reach for millions of American families.
    • Energy: Reliable and affordable energy is essential to modern American life — whether in homes, businesses, manufacturing plants, schools, hospitals, sporting events, or data centers. Laws and regulations can undermine reliability and affordability by protecting incumbent electricity providers from competition or disruptive innovation.

    The public will have 60 days to submit comments at Regulations.gov, no later than May 26. Once submitted, comments will be posted to Regulations.gov. All market participants are invited to provide comments in response to this inquiry, including consumers, consumer advocates, small businesses, employers, trade groups, industry analysts, and other entities that are impacted by anticompetitive state or federal laws and regulations.

    In addition to reviewing responses from the public, the Task Force will bring together attorneys, economists, and other staff from across the Division, together with interagency partners, to identify state and federal laws and regulations that unnecessarily harm competition. The Antitrust Division will then take appropriate action, including helping agencies revise or eliminate these regulations.

    The Task Force will also consider other ways to advocate for the removal of anticompetitive laws and regulations. The Division routinely files amicus briefs and statements of interests in private litigation, and it will continue to do so to promote competition and oppose anticompetitive laws and regulations. The Division also provides comments on proposed legislation in the states on the request of state legislators. These efforts will continue with an eye toward protecting competition and interstate commerce in light of dormant Commerce Clause principles.

    The Justice Department has a long history of serving as the Executive Branch’s chief competition advocate by working with agencies to identify and eliminate unnecessary regulations. In 2018, the Justice Department released a report on how regulations can harm competition. Following this report, the Justice Department submitted dozens of comments to federal agencies supporting efforts to eliminate unnecessary regulations and increase competition. For example, the Justice Department, in consultation with the Federal Trade Commission, submitted a comment opposing  regulations that would have protected incumbent electricity transmission companies from much-needed competition in energy markets across the country. The Justice Department filed comments aimed at making it easier for individuals and small businesses to navigate the federal government bureaucracy. The Justice Department also provided technical assistance and trainings to federal agencies to help them analyze how new and existing regulations might affect competition, or whether competition may be a better alternative to regulation altogether.

    The Anticompetitive Regulations Task Force will continue these efforts, supporting ongoing efforts across the Trump Administration to unleash competition by eliminating unnecessary, burdensome, and wasteful government regulations. For more information on the Task Force, including contact information, see the Anticompetitive Regulations Task Force page on the Division’s website.

    FOR FURTHER INFORMATION CONTACT: AnticompetitiveRegulations@usdoj.gov.

    MIL OSI USA News –

  • MIL-OSI Security: Justice Department Launches Anticompetitive Regulations Task Force

    Source: United States Attorneys General 1

    Task Force Invites Public Input Targeting Red Tape that Hinders Free Market Competition

    Today, the Justice Department launches an Anticompetitive Regulations Task Force to advocate for the elimination of anticompetitive state and federal laws and regulations that undermine free market competition and harm consumers, workers, and businesses. The Antitrust Division has a long history of advocacy against laws and regulations that create unnecessary barriers to competition.  The Task Force will surge resources to these efforts and invite public comments to support the Administration’s mission to unwind laws and regulations that hinder business dynamism and make markets less competitive.    

    “Realizing President Trump’s economic Golden Age will require unwinding burdensome regulations that stifle free market competition. This Antitrust Division will stand against harmful barriers to competition whether imposed by public regulators or private monopolists,” said Assistant Attorney General Abigail Slater of the Justice Department’s Antitrust Division. “We look forward to working with the public and with other federal agencies to identify and eliminate anticompetitive laws and regulations.”

    On Jan. 31, President Trump signed Executive Order 14192 declaring “the policy of the executive branch” to be that federal agencies should “alleviate unnecessary regulatory burdens placed on the American people.” Consistent with this policy, on Feb. 19, President Trump signed Executive Order 14219 directing agencies to “initiate a process to review all regulations” and identify regulations that, among other things, “impose undue burdens on small businesses and impede private enterprise and entrepreneurship.” Consistent with longstanding practice, the Antitrust Division will support federal agencies’ deregulatory initiatives by sharing its market expertise on regulations that pose the greatest barriers to economic growth.

    Regulatory capture is a well-studied phenomenon in which agencies become “captured” by special interests and big businesses, rather than serving the interests of the American people. But when regulations serve the few and impose undue burdens on small businesses, private enterprise, and entrepreneurs, they also harm competition and ultimately hurt American consumers, workers, and businesses. For example, regulations can increase compliance costs, preventing businesses from competing on a level playing field with powerful corporations. Regulations can also discourage or even intentionally prohibit small businesses and new products from entering markets and lowering prices for American families. In contrast, eliminating unnecessary anticompetitive regulations makes it easier for businesses to compete. More competition empowers the American people — not government regulators — to drive economic progress and innovation. When every American has a fair opportunity to enjoy the benefits of competitive free markets, every American has an opportunity to realize the American dream.

    By identifying and working with state and federal agencies to revise or eliminate these laws and regulations, the Anticompetitive Regulations Task Force will contribute to making the American dream a reality. As a first step, the Antitrust Division will initiate a public inquiry to identify unnecessary laws and regulations that raise the highest barriers to competition. In particular, the Division will seek information from the public about laws and regulations that make it more difficult for businesses to compete effectively, especially in markets that have the greatest impact on American households, including:

    • Housing: Americans spend more than one-third of their monthly income on housing, and the cost of owning or renting a home continues to rise. Laws and regulations in housing markets can contribute to these problems by making it more difficult for companies to build and ordinary Americans to rent or buy.
    • Transportation: Laws and regulations in areas like airlines, rail, and ocean shipping can grant antitrust immunities, outright monopolies, or safe harbors for conduct that undermines competition. As a result, Americans pay more for travel, fuel, and a variety of other products.
    • Food and Agriculture: By the end of the Biden-Harris Administration, grocery prices were 27% higher than at the end of the first Trump Administration. Eliminating unnecessary anticompetitive regulations will help farmers, growers, and ranchers increase the amount of food they produce and unlock lower prices for American consumers.
    • Healthcare: Laws and regulations in healthcare markets too often discourage doctors and hospitals from providing low-cost, high-quality healthcare and instead encourage overbilling and consolidation. These kinds of unnecessary anticompetitive regulations put affordable healthcare out of reach for millions of American families.
    • Energy: Reliable and affordable energy is essential to modern American life — whether in homes, businesses, manufacturing plants, schools, hospitals, sporting events, or data centers. Laws and regulations can undermine reliability and affordability by protecting incumbent electricity providers from competition or disruptive innovation.

    The public will have 60 days to submit comments at Regulations.gov, no later than May 26. Once submitted, comments will be posted to Regulations.gov. All market participants are invited to provide comments in response to this inquiry, including consumers, consumer advocates, small businesses, employers, trade groups, industry analysts, and other entities that are impacted by anticompetitive state or federal laws and regulations.

    In addition to reviewing responses from the public, the Task Force will bring together attorneys, economists, and other staff from across the Division, together with interagency partners, to identify state and federal laws and regulations that unnecessarily harm competition. The Antitrust Division will then take appropriate action, including helping agencies revise or eliminate these regulations.

    The Task Force will also consider other ways to advocate for the removal of anticompetitive laws and regulations. The Division routinely files amicus briefs and statements of interests in private litigation, and it will continue to do so to promote competition and oppose anticompetitive laws and regulations. The Division also provides comments on proposed legislation in the states on the request of state legislators. These efforts will continue with an eye toward protecting competition and interstate commerce in light of dormant Commerce Clause principles.

    The Justice Department has a long history of serving as the Executive Branch’s chief competition advocate by working with agencies to identify and eliminate unnecessary regulations. In 2018, the Justice Department released a report on how regulations can harm competition. Following this report, the Justice Department submitted dozens of comments to federal agencies supporting efforts to eliminate unnecessary regulations and increase competition. For example, the Justice Department, in consultation with the Federal Trade Commission, submitted a comment opposing  regulations that would have protected incumbent electricity transmission companies from much-needed competition in energy markets across the country. The Justice Department filed comments aimed at making it easier for individuals and small businesses to navigate the federal government bureaucracy. The Justice Department also provided technical assistance and trainings to federal agencies to help them analyze how new and existing regulations might affect competition, or whether competition may be a better alternative to regulation altogether.

    The Anticompetitive Regulations Task Force will continue these efforts, supporting ongoing efforts across the Trump Administration to unleash competition by eliminating unnecessary, burdensome, and wasteful government regulations. For more information on the Task Force, including contact information, see the Anticompetitive Regulations Task Force page on the Division’s website.

    FOR FURTHER INFORMATION CONTACT: AnticompetitiveRegulations@usdoj.gov.

    MIL Security OSI –

  • MIL-Evening Report: Grattan on Friday: an ‘arms race’ of promises as prime minister set to call election on Friday

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Oops. Anthony Albanese’s own department pre-empted its boss on Thursday. Some unfortunate official, pressing the wrong button, posted on X that the government was in “caretaker” mode, although the prime minister had not yet called the election.

    There was a grovelling apology from the department, saying it was trying to find out why the error occurred.

    No matter. The department was only a day early. Albanese goes to government house on Friday for an election on May 3.

    Indeed, most players and observers had expected, before cyclone Alfred, that the campaign, with its “caretaker” period, would be well under way by now.

    Instead, we’ve had this budget week that’s seen an auction of handouts.

    First, the budget announced the tax cuts, which are more than a year away, and will be delivered in two stages, They are, to use Treasurer Jim Chalmers’ description, “modest”.

    Then came Peter Duttlon’s counter hit – a halving of the excise on petrol and diesel, briefed out ahead of his budget reply. The benefit would come more quickly – but would only last a year. This is a recycled, extended version of the Morrison government’s 2022 excise cut. Labor supported the 2022 move, but rejects Dutton’s proposal.

    The budget we nearly didn’t have gave Chalmers the stage to strut his stuff. Budget weeks traditionally belong to treasurers who, among other things, do a walkabout through the ranks of the journalists who are “locked up” and ploughing through the embargoed budget documents. So some old hands were surprised when the PM appeared with a senior staffer to do his own walkabout. Precedents didn’t come to mind.

    Labor sought to wedge the Coalition by pushing through legislation to enshrine the tax cuts. The Coalition voted against them in parliament, then declared if elected, it would repeal them. Dutton has confirmed he won’t be announcing any policy for tax cuts closer to the election.

    For the Liberals, to be seen opposing an income tax cut is unusual and risky. It’s made for campaign slogans. “The only thing they don’t want to cut is people’s taxes,” Albanese declared. “Labor is the party of lower taxes.” Both sides will be watching their polling carefully in coming days to see whether this stand rebounds against the Liberals.

    The opposition believes its excise reduction will hit the mark, especially in the seats it is most targeting – those in the outer suburbs where people drive a lot.

    But Kos Samaras, from the Redbridge political consultancy, predicts people will see this “arms race” of hand outs as providing just band-aids, with the measures likely to cancel each other out.

    Apart from the excise measure the other big initiative in Dutton’s reply was his plan for a gas reservation scheme.

    This is designed to fill what has been an apparent big hole in the opposition’s energy policy. It has its ambitious (many would say unrealistic) nuclear plan for the long term. But if it is arguing it would be able to bring down energy bills any time soon, it needs a here-and-now policy to do so.

    Its answer is to turn to gas. That requires ensuring a reliable and adequate supply for the local market, to drive down the price.

    “Gas sold on the domestic market will be de-coupled from overseas markets to protect Australia from international price shocks,” Dutton said in his Thursday speech. “And this will drive down new wholesale domestic gas prices from over $14 per gigajoule to under 10 per gigajoule.”

    Dutton told the ABC after his address that the price fall could be achieved by the end of this calendar year.

    That estimate sounds like a hostage to fortune. Precision can be dangerous when it comes to energy promises. Who can forget that number Labor put out so confidently before the last election – a $275 fall in household power bills?

    Critics will find all sorts of issues with Dutton’s east coast reservation scheme, including that it would be heavily interventionist and there’s no guarantee it would work. Labor says Dutton is reheating one of its old plans, and that the government has the gas situation under control anyway.

    The opposition says its plan is in line with warnings on gas supply released by the Australian Competition and Consumer Commission on Thursday.

    The potential effectiveness of Dutton’s gas plan will be highly contested. What is not in dispute is that the partisan divide over the energy transition will be one of the central issues of the campaign.

    This week the prime minister has had a spring in his step. The polls have improved somewhat, and the “vibe” seems to be with him. Responding to a challenge from a couple of podcasters, he playfully put the phrase, “delulu with no solulu” into a speech to describe his opponents. Never mind that middle-aged politicians sound slightly absurd when they try to be hip. Albanese is a confidence player and at the moment his confidence is up.

    The tactical games aren’t just around the tax cuts. Calling the election first thing Friday carpet bombs Dutton’s budget reply.

    And once the election is called, parliament will be prorogued and that will scrap the Friday sitting of estimates committees, denying the opposition an opportunity to quiz officials about the budget and other matters. (On Thursday, the “caretaker” fiasco became public during an estimates hearing, surprising officials from the PM’s department who happening to be appearing at the time.)

    For his part, Dutton understands the odds against him.

    Political scientist Rodney Tiffen, in an analysis of federal campaigns from 1972 to 2022, found no example where an opposition had started the campaign roughly equal in the polls and won, and three where it had lost (1980, 1987, and 2004). “All winning oppositions started the campaign already ahead,” Tiffen writes in a chapter in The Art of Opposition.

    In his budget reply, Dutton delivered one revealing line: “This election is as much about leadership as it’s about policy”.

    Dutton casts himself as the leader who would take the tough decisions. “I will lead with conviction – not walk both sides of the street,” he said.

    “I will be a strong leader and a steady hand – just as John Howard was.”

    Dutton might see Howard as his role model, but it will be a big leap of faith for many voters to see the opposition as a contemporary Howard.

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

    – ref. Grattan on Friday: an ‘arms race’ of promises as prime minister set to call election on Friday – https://theconversation.com/grattan-on-friday-an-arms-race-of-promises-as-prime-minister-set-to-call-election-on-friday-251257

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: YieldMax™ Introduces Short Option Income Strategy ETF on MicroStrategy, Inc. (MSTR)

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO and MILWAUKEE and NEW YORK, March 27, 2025 (GLOBE NEWSWIRE) — YieldMax™ announced the launch today of the following ETF:

    YieldMax™ Short MSTR Option Income Strategy ETF (NYSE: WNTR)

    WNTR Overview

    WNTR is an actively managed ETF that seeks to generate current income from a synthetic covered put strategy on MicroStrategy Incorporated (“MSTR”), while providing indirect short (inverse) exposure to the share price of MSTR. WNTR’s potential for gains from decreases in the share price of MSTR is limited, while its potential for losses resulting from increases in the share price of MSTR is up to 100%. WNTR does not invest directly in MSTR and does not directly short MSTR. Investors seeking direct exposure to the price of MSTR should consider an investment other than this Fund.

    WNTR Portfolio Construction

    WNTR’s synthetic covered put strategy consists of the following four elements:

    • Synthetic short exposure to MSTR, consisting of a long at-the-money put option and a short at-the-money call option, which allows WNTR to seek to participate on an inverse, unleveraged basis in changes, up or down, to the share price of MSTR.
    • Covered put writing (where MSTR put options are sold against the synthetic short portion of the strategy), which allows WNTR to generate income.
    • U.S. Treasuries, which are used for collateral for the options, and which also generate income; and;
    • Out-of-the money (“OTM”) call options, which are purchased to seek to cap WNTR’s potential losses from its short exposure to MSTR if MSTR’s share price appreciates significantly in value.

    The loss capping works only if the MSTR share price rises to or above the strike price of the purchased OTM call options. If the MSTR share price increases but stays below the strike price of these options, WNTR will incur losses proportionate to this price increase, which may be up to 100% of your investment.

    Why Invest in WNTR?

    • WNTR seeks to generate current income, which is not dependent on the price depreciation of MSTR.
    • WNTR seeks to benefit when the MSTR share price decreases, however WNTR’s potential corresponding benefit from decreases in the MSTR share price is limited.
    • WNTR’s short exposure to MSTR is not leveraged so does not result in daily resetting.

    WNTR is the newest member of the growing YieldMax™ ETF family and, like all YieldMax™ ETFs, aims to deliver income to investors. With respect to distributions, WNTR will be a Group D ETF and its first distribution is expected to be announced on May 7, 2025. Please see the table below for distribution information for all outstanding YieldMax™ ETFs as of March 26, 2025.

    ETF Ticker1 ETF Name Distribution Frequency Distribution per Share Distribution Rate2,4 30-Day
    SEC Yield3    		 ROC5
    GPTY YieldMax™ AI & Tech Portfolio Option Income ETF Weekly $0.2787 34.92% 0.00% 98.94%
    LFGY YieldMax™ Crypto Industry & Tech Portfolio Option Income ETF Weekly $0.4749 64.18% 0.00% 0.00%
    QDTY YieldMax™ Nasdaq 100 0DTE Covered Call Strategy ETF Weekly $0.2711 – – 55.02%
    RDTY YieldMax™ R2000 0DTE Covered Call Strategy ETF Weekly $0.3037 – – 100.00%
    SDTY YieldMax™ S&P 500 0DTE Covered Call Strategy ETF Weekly $0.2133 – – 0.00%
    ULTY YieldMax™ Ultra Option Income Strategy ETF Weekly $0.0986 77.95% 0.00% 100.00%
    YMAG YieldMax™ Magnificent 7 Fund of Option Income ETFs Weekly $0.0837 27.95% 61.87% 21.53%
    YMAX YieldMax™ Universe Fund of Option Income ETFs Weekly $0.1315 48.21% 85.03% 61.95%
    BIGY YieldMax™ Target 12™ Big 50 Option Income ETF Monthly $0.5025 12.89% 0.03% 100.00%
    SOXY YieldMax™ Target 12™ Semiconductor Option Income ETF Monthly $0.4883 13.14% 0.00% 50.31%
    ABNY YieldMax™ ABNB Option Income Strategy ETF Every 4 weeks $0.4805 47.62% 2.98% 92.39%
    AIYY YieldMax™ AI Option Income Strategy ETF Every 4 weeks $0.3221 81.94% 4.64% 2.09%
    AMDY YieldMax™ AMD Option Income Strategy ETF Every 4 weeks $0.2533 38.83% 4.02% 92.00%
    AMZY YieldMax™ AMZN Option Income Strategy ETF Every 4 weeks $0.4177 32.58% 3.79% 0.00%
    APLY YieldMax™ AAPL Option Income Strategy ETF Every 4 weeks $0.3440 29.76% 3.15% 87.26%
    BABO YieldMax™ BABA Option Income Strategy ETF Every 4 weeks $0.7578 47.94% 2.36% 0.00%
    CONY YieldMax™ COIN Option Income Strategy ETF Every 4 weeks $0.5989 91.19% 4.56% 94.78%
    CRSH YieldMax™ Short TSLA Option Income Strategy ETF Every 4 weeks $0.6458 126.57% 3.00% 98.10%
    CVNY YieldMax™ CVNA Option Income Strategy ETF Every 4 weeks $3.9149 136.69% 0.00% 96.80%
    DIPS YieldMax™ Short NVDA Option Income Strategy ETF Every 4 weeks $0.5851 59.01% 2.90% 96.87%
    DISO YieldMax™ DIS Option Income Strategy ETF Every 4 weeks $0.2879 25.79% 4.48% 51.26%
    FBY YieldMax™ META Option Income Strategy ETF Every 4 weeks $0.5506 40.70% 3.47% 0.00%
    FEAT YieldMax™ Dorsey Wright Featured 5 Income ETF Every 4 weeks $0.6925 24.43% 122.88% 0.00%
    FIAT YieldMax™ Short COIN Option Income Strategy ETF Every 4 weeks $0.6834 102.31% 3.52% 96.91%
    FIVY YieldMax™ Dorsey Wright Hybrid 5 Income ETF Every 4 weeks $0.7092 24.46% 67.34% 0.00%
    GDXY YieldMax™ Gold Miners Option Income Strategy ETF Every 4 weeks $0.6394 50.58% 3.08% 0.00%
    GOOY YieldMax™ GOOGL Option Income Strategy ETF Every 4 weeks $0.3284 34.06% 4.12% 0.00%
    JPMO YieldMax™ JPM Option Income Strategy ETF Every 4 weeks $0.3717 28.22% 3.40% 42.17%
    MARO YieldMax™ MARA Option Income Strategy ETF Every 4 weeks $1.4783 77.02% 4.21% 95.22%
    MRNY YieldMax™ MRNA Option Income Strategy ETF Every 4 weeks $0.1827 73.97% 5.01% 94.71%
    MSFO YieldMax™ MSFT Option Income Strategy ETF Every 4 weeks $0.2845 22.77% 3.53% 83.81%
    MSTY YieldMax™ MSTR Option Income Strategy ETF Every 4 weeks $1.3775 78.55% 0.21% 97.54%
    NFLY YieldMax™ NFLX Option Income Strategy ETF Every 4 weeks $0.4008 29.98% 3.23% 0.00%
    NVDY YieldMax™ NVDA Option Income Strategy ETF Every 4 weeks $0.7874 60.92% 4.02% 100.00%
    OARK YieldMax™ Innovation Option Income Strategy ETF Every 4 weeks $0.3210 50.64% 3.25% 71.26%
    PLTY YieldMax™ PLTR Option Income Strategy ETF Every 4 weeks $5.3257 103.41% 2.63% 97.91%
    PYPY YieldMax™ PYPL Option Income Strategy ETF Every 4 weeks $0.3773 35.12% 4.20% 90.73%
    SMCY YieldMax™ SMCI Option Income Strategy ETF Every 4 weeks $1.9742 114.93% 2.63% 0.00%
    SNOY YieldMax™ SNOW Option Income Strategy ETF Every 4 weeks $0.8119 64.03% 2.45% 0.00%
    SQY YieldMax™ XYZ Option Income Strategy ETF Every 4 weeks $0.5014 57.37% 5.21% 91.68%
    TSLY YieldMax™ TSLA Option Income Strategy ETF Every 4 weeks $0.4638 70.54% 4.69% 94.16%
    TSMY YieldMax™ TSM Option Income Strategy ETF Every 4 weeks $0.5772 49.14% 3.59% 93.02%
    XOMO YieldMax™ XOM Option Income Strategy ETF Every 4 weeks $0.2950 26.24% 3.38% 77.73%
    YBIT YieldMax™ Bitcoin Option Income Strategy ETF Every 4 weeks $0.4357 55.99% 1.61% 97.70%
    YQQQ YieldMax™ Short N100 Option Income Strategy ETF Every 4 weeks $0.4483 55.99% 3.79% 92.77%


    Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling     (833) 378-0717.

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

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

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

    1  All YieldMax™ ETFs shown in the table above (except YMAX, YMAG, FEAT, FIVY and ULTY) have a gross expense ratio of 0.99%. YMAX, YMAG and FEAT have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. FIVY has a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.59% for a gross expense ratio of 0.88%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax™ ETFs. ULTY has a gross expense ratio after the fee waiver of 1.30%. The Advisor has agreed to a fee waiver of 0.10% through at least February 28, 2026.
    2  The Distribution Rate shown is as of close on March 26, 2025. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.
    3  The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended February 28, 2025, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.
    4  Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.
    5  ROC refers to Return of Capital. The ROC percentage is the portion of the distribution that represents an investor’s original investment.

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

    Standardized Performance

    For YMAX, click here. For YMAG, click here. For TSLY, click here. For OARK, click here. For APLY, click here. For NVDY, click here. For AMZY, click here. For FBY, click here. For GOOY, click here. For NFLY, click here. For CONY, click here. For MSFO, click here. For DISO, click here. For XOMO, click here. For JPMO, click here. For AMDY, click here. For PYPY, click here. For SQY, click here. For MRNY, click here. For AIYY, click here. For MSTY, click here. For ULTY, click here. For YBIT, click here. For CRSH, click here. For GDXY, click here. For SNOY, click here. For ABNY, click here. For FIAT, click here. For DIPS, click here. For BABO, click here. For YQQQ, click here. For TSMY, click here. For SMCY, click here. For PLTY, click here. For BIGY, click here. For SOXY, click here. For MARO, click here. For FEAT, click here. For FIVY, click here. For LFGY, click here. For GPTY, click here. For CVNY, click here. For SDTY, click here. For QDTY, click here. For RDTY, click here.

    Important Information

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

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

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

    Risk Disclosures

    Investing involves risk. Principal loss is possible.

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

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

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

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

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

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

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

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next. Additionally, monthly distributions, if any, may consist of returns of capital, which would decrease the Fund’s NAV and trading price over time.

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

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

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

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

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

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

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

    Risk Disclosures (applicable only to GPTY)

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

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

    Risk Disclosure (applicable only to MARO)

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

    Risk Disclosures (applicable only to BABO and TSMY)

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

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

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

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

    Risk Disclosures (applicable only to GDXY)

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

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

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

    Risk Disclosures (applicable only to YBIT)

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

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

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

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

    Risk Disclosures (applicable only to the Short ETFs)

    Investing involves risk. Principal loss is possible.

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

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

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

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

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

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

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

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

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

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

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

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

    Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, for any Fund that focuses on an individual security (e.g., TSLA, COIN, NVDA, MSTR), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

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

    Risk Disclosures (applicable only to YQQQ)

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

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

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

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

    © 2025 YieldMax™ ETFs

    The MIL Network –

  • MIL-OSI: OTC Markets Group Welcomes Credit Corp Group Ltd. to OTCQX

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, March 27, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Credit Corp Group Ltd. (ASX: CCP; OTCQX: CCGFF), Australia’s largest provider of responsible financial services to the credit-impaired consumer segment, has qualified to trade on the OTCQX® Best Market. Credit Corp Group Ltd. upgraded to OTCQX from the Pink® market.

    Credit Corp Group Ltd. begins trading today on OTCQX under the symbol “CCGFF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

    Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors.  For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

    About Credit Corp Group Ltd.
    Credit Corp is Australia’s largest provider of responsible financial services to the credit-impaired consumer segment. Credit Corp works with customers by adopting a flexible approach to agreeing affordable repayment plans and solutions. If you have received correspondence or a call from Credit Corp, we encourage you to contact us as soon as possible. To find out more about managing your account please follow the below link to our customer site.

    About OTC Markets Group Inc.
    OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.

    Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

    OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATS™ are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

    To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

    Subscribe to the OTC Markets RSS Feed

    Media Contact:
    OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

    The MIL Network –

  • MIL-OSI: Sachem Capital Reports Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    BRANFORD, Conn., March 27, 2025 (GLOBE NEWSWIRE) — Sachem Capital Corp. (NYSE American: SACH), a real estate lender specializing in originating, underwriting, funding, servicing, and managing a portfolio of loans secured by first mortgages on real property, today announced its financial results for the year ended December 31, 2024.

    John Villano, CPA, Sachem Capital’s Chief Executive Officer commented, “We remain focused on effectively managing our loan portfolio and protecting our capital as we continue our efforts to navigate challenging financial and real estate markets. These efforts include managing our debt load and the associated carrying costs and selling non-performing loans, which should reduce the allowances for credit losses that have been a drag on earnings. We continue to evaluate attractive opportunities to invest capital while maintaining a disciplined capital allocation approach. With our experienced team, we remain confident that growth will return as we leverage strong industry relationships and work to increase shareholder value.”

    Results of operations for year ended December 31, 2024

    Total revenue was $57.5 million compared to $64.7 million in 2023. The decline in revenue was primarily due to fewer originations and a reduction in the number of loans held for investment. Also, interest income, fee income from loans and other investment income was lower compared to 2023. Interest income in 2024 was $43.2 million compared to $49.3 million for 2023. On the other hand, income from partnership investments increased approximately 48.8%, year-over-year.

    Total operating costs and expenses for 2024 were $75.3 million compared to $49.7 million in 2023. The change was primarily due to an increase of $21.3 million in provision for credit losses and a $1.9 million increase in general and administrative expenses. These increases were offset by lower interest and amortization expense of $1.4 million.

    Net loss attributable to common shareholders for 2024 was $43.9 million, or $0.93 per share compared to net income attributable to common shareholders of $12.1 million, or $0.27 per share for 2023.

    Balance Sheet

    Total assets as of the year ended December 31, 2024 were $492.0 million compared to $620.9 million as of December 31, 2023. The change was primarily due to net reduction in loans held for investment by $130.5 million. Total liabilities as of December 31, 2024 were $310.3 million compared to $390.8 million as of December 31, 2023, with the primary decreases coming from the repayment of unsubordinated unsecured five year notes that matured in 2024, in the aggregate principal amount of $58.3 million, and the paydown of lines of credit balances in the aggregate amount of $21.8 million.

    Total indebtedness at year-end was $301.2 million. This includes: $226.5 million of notes payable (net of $3.7 million of deferred financing costs) and $74.7 million aggregate outstanding principal amount of the amounts due under various credit facilities and the mortgage loan on the Company’s office building.

    Total shareholders’ equity at year-end 2024 was $181.7 million compared to $230.1 million at year-end 2023. The change was primarily due to an operational total net loss for the year of $39.6 million and preferred and common stock dividends declared and paid of $15.7 million.

    Dividends

    Over the course of 2024, the Company paid an aggregate of $4.3 million in dividends to holders of its Series A Cumulative Redeemable Preferred Stock and $11.4 million to the holders of its common shares.

    On February 24, 2025, the Company declared a dividend of $0.484375 per share on the Series A Preferred Stock, payable on March 31, 2025 to Series A Preferred Stock shareholders of record on March 15, 2025.

    On March 6, 2025, the Company declared a quarterly dividend of $0.05 per common share payable to common shareholders of record on March 17, 2025. The dividend is expected to be paid March 31, 2025.

    The Company currently operates and qualifies as a Real Estate Investment Trust (REIT) for federal income taxes and intends to continue to qualify and operate as a REIT. Under federal income tax rules, a REIT is required to distribute a minimum of 90% of taxable income each year to its shareholders, and the Company intends to comply with this requirement for the current year.

    Investor Conference Webcast and Call

    The Company is hosting a webcast and conference call Thursday, March 27, 2025 at 8:00 a.m. Eastern Time, to discuss in greater detail its financial results for the full year ended December 31, 2024. A webcast of the call may be accessed on the Company’s website at https://sachemcapitalcorp.com/investor-relations/events-and-presentations/default.aspx.

    Interested parties can access the conference call via telephone by dialing toll free 877-704-4453 for U.S. callers or +1-201-389-0920 for international callers.

    Replay

    The webcast will also be archived on the Company’s website and a telephone replay of the call will be available through Thursday, April 10, 2025, and can be accessed by dialing 1-844-512-2921 for U.S. callers or +1 412-317-6671 for international callers and by entering replay passcode: 13750432.

    About Sachem Capital Corp

    Sachem Capital Corp. is a mortgage REIT that specializes in originating, underwriting, funding, servicing, and managing a portfolio of loans secured by first mortgages on real property. It offers short-term (i.e., three years or less) secured, nonbanking loans to real estate investors to fund their acquisition, renovation, development, rehabilitation, or improvement of properties. The Company’s primary underwriting criteria is a conservative loan to value ratio. The properties securing the loans are generally classified as residential or commercial real estate and, typically, are held for resale or investment. Each loan is secured by a first mortgage lien on real estate and is personally guaranteed by the principal(s) of the borrower. The Company also makes opportunistic real estate purchases apart from its lending activities.

    Forward Looking Statements

    This press release may contain forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, strategy and plans, and our expectations for future operations, are forward-looking statements. Such forward-looking statements are subject to several risks, uncertainties and assumptions as described in the Annual Report on Form 10-K for 2024 to be filed with the U.S. Securities and Exchange Commission (the “SEC”) on or before March 31, 2025. Because of these risks, uncertainties and assumptions, any forward-looking events and circumstances discussed in this press release may not occur. You should not rely upon forward-looking statements as predictions of future events. Neither the Company nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. The Company disclaims any duty to update any of these forward-looking statements. All forward-looking statements attributable to the Company are expressly qualified in their entirety by these cautionary statements as well as others made in this press release. You should evaluate all forward-looking statements made by the Company in the context of these risks and uncertainties.

    Investor & Media Contact:
    Email: investors@sachemcapitalcorp.com

    SACHEM CAPITAL CORP.
    CONSOLIDATED BALANCE SHEETS
    (in thousands, except share data)
                 
           Years Ended
        December 31,
        2024    2023 
    Assets     (unaudited)       (audited)  
    Cash and cash equivalents   $ 18,066     $ 12,598  
    Investment securities (at fair value)     1,517       37,776  
    Loans held for investment (net of deferred loan fees of $1,950 and $4,647)     375,041       494,588  
    Allowance for credit losses     (18,470 )     (7,523 )
    Loans held for investments, net of allowances for credit losses     356,571       487,065  
    Loans held for sale (net, of valuation allowance of $4,880 and $0)     10,970       —  
    Interest and fees receivable, net     3,768       8,475  
    Due from borrowers, net     5,150       5,597  
    Real estate owned, net     18,574       3,462  
    Investments in limited liability companies     53,942       43,036  
    Investments in rental real estate, net     14,032       10,554  
    Property and equipment, net     3,222       3,373  
    Other assets     6,164       8,956  
    Total assets   $ 491,976     $ 620,892  
    Liabilities and Shareholders’ Equity            
    Liabilities:            
    Notes payable (net of deferred financing costs of $3,713 and $6,048)   $ 226,526     $ 282,353  
    Repurchase agreements     33,708       26,461  
    Mortgage payable     1,002       1,081  
    Lines of credit     40,000       61,792  
    Accrued dividends payable     —       5,144  
    Accounts payable and accrued liabilities     4,377       2,322  
    Advances from borrowers     4,047       10,998  
    Below market lease intangible     665       665  
    Total liabilities     310,325       390,816  
    Commitments and Contingencies            
    Shareholders’ equity:            
    Preferred shares – $.001 par value; 5,000,000 shares authorized; 2,903,000 shares designated as Series A Preferred Stock; 2,306,748 and 2,029,923 shares of Series A Preferred Stock issued and outstanding at December 31, 2024 and December 31, 2023, respectively     2       2  
    Common stock – $.001 par value; 200,000,000 shares authorized; 46,965,306 and 46,765,483 issued and outstanding at December 31, 2024 and December 31, 2023, respectively     47       47  
    Additional paid-in capital     256,956       249,826  
    Accumulated other comprehensive income     —       316  
    Cumulative net earnings     35,518       75,089  
    Cumulative dividends paid     (110,872 )     (95,204 )
    Total shareholders’ equity     181,651       230,076  
    Total liabilities and shareholders’ equity   $ 491,976     $ 620,892  
    SACHEM CAPITAL CORP.
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (in thousands, except share and per share data)
                 
        Years Ended
        December 31, 
           2024   2023
    Revenues     (unaudited)       (audited)  
    Interest income from loans   $ 43,154     $ 49,265  
    Fee income from loans     8,594       10,699  
    Income from limited liability company investments     5,239       3,522  
    Other investment income     391       1,209  
    Other income     122       54  
    Total revenues     57,500       64,749  
                 
    Operating expenses            
    Interest and amortization of deferred financing costs     27,798       29,190  
    Compensation and employee benefits     6,824       6,932  
    General and administrative expenses     6,841       4,955  
    Provision for credit losses related to available-for-sale debt securities     —       809  
    Provision for credit losses related to loans held for investment     26,928       5,588  
    Change in valuation allowance, loans held for sale     4,880       —  
    Impairment loss on real estate owned     492       794  
    (Gain) loss on sale of real estate and property and equipment, net     (439 )     88  
    Other expenses     1,952       1,354  
    Total operating expenses     75,276       49,710  
    Operating (loss) income before other (loss) income     (17,776 )     15,039  
                 
    Other (loss) income            
    Gain on equity securities     178       860  
    Loss on sale of loans     (21,973 )     —  
    Total other (loss) income, net     (21,795 )     860  
    Net (loss) income     (39,571 )     15,899  
    Preferred stock dividend     (4,304 )     (3,795 )
    Net (loss) income attributable to common shareholders   $ (43,875 )   $ 12,104  
                 
    Basic (loss) earnings per Common Share   $ (0.93 )   $ 0.27  
    Diluted (loss) earnings per Common Share   $ (0.93 )   $ 0.27  
    Basic weighted average Common Shares outstanding     47,413,012       44,244,988  
    Diluted weighted average Common Shares outstanding     47,413,012       44,244,988  
    SACHEM CAPITAL CORP.
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (in thousands)
                 
        Years Ended
        December 31,
           2024       2023 
    CASH FLOWS FROM OPERATING ACTIVITIES     (unaudited)       (audited)  
    Net (loss) income   $ (39,571 )   $ 15,899  
    Adjustments to reconcile net (loss) income to net cash provided by operating activities:            
    Amortization of deferred financing costs     2,456       2,415  
    Depreciation expense     372       266  
    Write-off of other assets – pre-offering costs     —       477  
    Stock-based compensation     863       823  
    Provision for credit losses related to available-for-sale debt securities     —       809  
    Provision for credit losses related to loans held for investment     26,928       5,588  
    Change in valuation allowance, loans held for sale     4,880       —  
    Loss on sale of Loans     21,973       —  
    Impairment loss on real estate owned     492       794  
    (Gain) loss on sale of real estate and property and equipment, net     (439 )     88  
    (Gain) on equity securities     (178 )     (860 )
    Changes in operating assets and liabilities:            
    Interest and fees receivable, net     1,574       (2,285 )
    Other assets     2,656       (3,596 )
    Due from borrowers, net     (689 )     (334 )
    Accounts payable and accrued liabilities     1,132       374  
    Deferred loan fees revenue     (2,697 )     287  
    Advances from borrowers     (6,951 )     1,106  
    Total adjustments and operating changes     52,372       5,952  
    NET CASH PROVIDED BY OPERATING ACTIVITIES     12,801       21,851  
                 
    CASH FLOWS FROM INVESTING ACTIVITIES              
    Purchase of investment securities     (7,767 )     (30,415 )
    Proceeds from the sale of investment securities     43,964       18,120  
    Purchase of interests in limited liability companies     (18,271 )     (13,896 )
    Proceeds from limited liability companies returns of capital     7,310       1,661  
    Proceeds from sale of loans, net     36,122       —  
    Proceeds from sale of real estate owned     2,613       450  
    Acquisitions of and improvements to real estate owned     (510 )     (229 )
    Proceeds from sale of property and equipment     —       1,299  
    Purchase of property and equipment     (203 )     (784 )
    Improvements in investment in rental real estate     (3,496 )     (10,845 )
    Principal disbursements for loans     (134,298 )     (204,885 )
    Principal collections on loans     154,654       167,036  
    NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES     80,118       (72,488 )
                 
    CASH FLOWS FROM FINANCING ACTIVITIES              
    Proceeds from lines of credit     27,959       58,204  
    Repayments on lines of credit     (49,751 )     —  
    Proceeds from repurchase agreements     19,055       14,028  
    Repayments of repurchase agreements     (11,808 )     (30,100 )
    (Repayment of) proceeds from mortgage payable     (79 )     331  
    Dividends paid on Common Shares     (16,507 )     (21,933 )
    Dividends paid on Series A Preferred Stock     (4,304 )     (3,795 )
    Proceeds from issuance of common shares, net of expenses     2,050       20,450  
    Repurchase of Common Shares     (1,489 )     (226 )
    Proceeds from issuance of Series A Preferred Stock, net of expenses     5,706       2,563  
    Repayment of notes payable     (58,283 )     —  
    NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES     (87,451 )     39,522  
                 
    NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS     5,468       (11,115 )
                 
    CASH AND CASH EQUIVALENTS – BEGINNING OF PERIOD     12,598       23,713  
                 
    CASH AND CASH EQUIVALENTS – END OF PERIOD   $ 18,066     $ 12,598  

    The MIL Network –

  • MIL-OSI: Breaking the Mold: Hola Prime Rolls Out MT5 for Next-Gen Traders

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, NY, March 27, 2025 (GLOBE NEWSWIRE) — In a bold move to enhance the trading experience, Hola Prime offers its own licensed MetaTrader 5 (MT5), standing out as one of the few proprietary trading firms to do so. With its advanced capabilities, multi-asset trading, and faster execution, MT5 has become the platform of choice for traders seeking an edge. By pushing past the limitations of outdated systems, Hola Prime is empowering traders with the tools they need to stay ahead.

    Hola Prime is the first prop firm offering On Exchange cryptos in addition to forex and CFDs- all together on MT5. Despite many new trading platforms being available in the market, MT5 continues to be the most preferred trading platform among traders, primarily because of its unmatched capacity of processing millions of transactions in milliseconds.

     Oliver Kane, a professional trader, based out of Australia, shared his experience: “Other platforms restricted my ability to trade multiple assets efficiently. Switching between platforms to trade stocks, commodities, and indices was frustrating. MT5 on Hola Prime allows me to trade all these seamlessly, making a huge difference in my execution.”

    Fredrik James, another active trader, from Canada, highlighted execution issues on older platforms. “Delays in order processing and the inability to hedge made risk management difficult. Sometimes, slippage would significantly impact my profits. MT5’s faster execution and hedging options have made my trades more precise and efficient, reducing unnecessary losses.”

    Hola Prime’s proprietary MT5 server ensures high security, premium liquidity, and superior performance. MT5 facilitates multi-asset trading across forex, stocks, commodities, indices, and cryptocurrencies. This expanded market access allows traders to diversify their portfolios without needing multiple accounts or platforms. MT5 offers an enhanced order execution model, allowing traders to see real-time bid/ask price levels beyond the standard spread. This feature improves precision in trading, helping traders make informed decisions with greater market transparency.

    MT5 supports algorithmic trading, the use of Expert Advisors (EAs), through the upgraded MQL5 programming language, enabling traders to create custom indicators, scripts, and automated trading strategies. The built-in strategy tester helps optimize automated strategies before deploying them in live markets. With its 64-bit, multi-threaded architecture, MT5 ensures faster order processing and lower latency. The platform integrates an economic calendar, financial news updates, and fundamental analysis tools, allowing traders to make informed decisions based on real-time economic events and market trends without leaving the platform.

    Hola Prime’s MT5 platform is accessible via a powerful web terminal and mobile applications for iOS and Android, ensuring traders can access their accounts anytime, anywhere, without compromising functionality or security.

    Himanshu Chandel, Marketing Director at Hola Prime, emphasized the impact of MT5’s features on traders: “We are always customer-focused in everything we do. With 21 timeframes, over 80 built-in technical indicators, and enhanced algorithmic trading capabilities, MT5 empowers traders with precision and efficiency. It’s designed for those who need high-performance tools to trade complex markets.” He further explained how MT5’s architecture improves execution and market access: “Its 64-bit, multi-threaded system ensures faster trade execution with minimal delays, making it a supremely popular platform, which traders love.”

    Somesh Kapuria, CEO of Hola Prime, stressed the need for advanced platforms in modern trading. “Traders have long been restricted by outdated platforms that don’t support advanced market analysis or multi-asset trading. With MT5, we are equipping them with cutting-edge technology that enhances execution speed, strategy automation, and overall market opportunities.” He further announced that Hola Prime will soon introduce a series of tutorials and guides to help traders maximize MT5’s potential. “Education is key in trading. We want our traders to make the most of MT5’s powerful features, and we’re committed to providing the resources they need to stay ahead.”

    As one of the few proprietary trading firms offering MT5, Hola Prime continues to solidify its position as a leader in the industry. The firm’s proprietary server ensures a secure and efficient trading experience, while exclusive discounts especially on MT5 further enhance its appeal to traders.

    Social Links

    Facebook: https://www.facebook.com/profile.php?id=61565158992654&sk=about_contact_and_basic_info

    Instagram: https://www.instagram.com/holaprime_global/

    YouTube: https://www.youtube.com/channel/UCtVEJa1Ml132Be7tnk-DjeQ

    LinkedIn: https://www.linkedin.com/company/hola-prime/?viewAsMember=true

    X: https://x.com/HolaPrimeGlobal

    Discord: https://discord.gg/TJ7TcHPXBf

    Quora: https://www.quora.com/profile/HolaPrime/

    Reddit: https://www.reddit.com/user/HolaPrime/

    Medium: https://medium.com/@social_46267

    Media Contact

    Company: Hola Prime

    Contact: Media Team

    Email: marketing@holaprime.com

    Website: https://holaprime.com/

    The MIL Network –

  • MIL-OSI NGOs: ‘An absolute dud’: Peter Dutton’s energy plan a fail for family budgets, our kids’ future, and our environment 

    Source: Greenpeace Statement –

    MELBOURNE, 27 MARCH 2025—Responding to Peter Dutton’s gas policy, announced tonight in his Budget Reply speech, Joe Rafalowicz, Head of Climate and Energy, Greenpeace, said: 

    Peter Dutton’s energy policy is an absolute dud for everyone except his mates – the fossil fuel lobby. It contains everything that would benefit coal and gas corporations, and absolutely nothing that would help household budgets, or stop the destruction of our ecosystems and climate. 

    Fast-tracking gas approvals, opening up new gas fields in our oceans and fracking the land, diverting money meant for clean energy to dirty gas, and stopping the construction of essential infrastructure to make renewable energy more affordable for Australians: these are all cynical measures designed to hamper the growth of affordable and clean renewable energy, while gas corporations continue to rake in profits.

    Wind and solar are already the cheapest form of energy in Australia, while gas is expensive, tied to volatile global markets for price, and wrecks the climate and our ecosystems. To truly reduce energy prices for Australians, Mr Dutton should be helping families buy home solar systems with batteries, and expanding the share of renewable energy generation, backed by storage.

    The Coalition’s nuclear plans are also nothing more than a risky, ok bad-faith delay tactic to prop up coal, oil, and gas, while holding back the rollout of renewable energy. Only the fossil fuel industry benefits from nuclear, while the rest of us pay the price for worsening climate damage, which is costing Australian taxpayers billions of dollars a year. 

    If Peter Dutton is serious about lowering bills for Australians, and wants the approval of the majority of Australians who love nature and are concerned about the climate, this absolute dud of an energy policy will not cut it. We call on Mr. Dutton to produce a real and effective energy and climate plan, based on cheap, clean renewable power. 

    For interviews, contact Vai – 0452 290 092 / [email protected]

    MIL OSI NGO –

  • MIL-OSI Australia: The Fugitive Task Force Deploys to the West Daly Region

    Source: Northern Territory Police and Fire Services

    The Northern Territory Police Force has deployed the Fugitive Task Force (FTF) to the West Daly Region.

    The FTF was stood up in December 2024 to boost ongoing efforts to target recidivist offenders and enhance community safety.

    Over a three-day deployment to the West Daly Region, the task force has made 20 arrests and served two domestic violence orders, along with assisting local police with multiple outstanding matters.

    The offences committed by those arrested include breach of bail, outstanding warrants, aggravated assault and breach of domestic violence orders.

    Acting Commander Drew Slape said, “The Fugitive Task Force continues to focus on holding recidivist and high harm offenders to account.

    “We will continue to pursue those who have outstanding matters and present ongoing risks to community safety.”

    MIL OSI News –

  • MIL-OSI Australia: Arrest – Domestic violence – Alice Springs

    Source: Northern Territory Police and Fire Services

    The Northern Territory Police Force has arrested a 53-year-old male in relation to a domestic violence incident that occurred in Alice Springs early this morning.

    Around 1:25am, a female presented to the Alice Springs Police Station to report she had been assaulted by her partner with a blunt weapon at a residence in Braitling.

    The victim sustained injuries to her head, face and arm, and was conveyed to the Alice Springs Hospital by St John Ambulance for treatment.

    Police attended the residence and arrested a 53-year-old male at 2am.

    He remains in police custody and investigations are ongoing.

    Police urge anyone with information to call 131 444 and quote reference P25083467. Anonymous reports can also be made through Crime Stoppers on 1800 333 000.

    If you or someone you know are experiencing difficulties due to domestic violence, support services are available, including, but not limited to, 1800RESPECT (1800737732) or Lifeline 131 114.

    MIL OSI News –

  • MIL-OSI Australia: Call for information – Disturbances – Alice Springs

    Source: Northern Territory Police and Fire Services

    The Northern Territory Police Force is calling for information in relation to disturbances that occurred in Alice Springs yesterday.

    Around 12:30pm, the Joint Emergency Services Communication Centre (JESCC) received multiple reports of groups fighting in the Alice Springs CBD. Police responded and the group dispersed.

    A 37-year-old female was conveyed to the Alice Springs Hospital with minor injuries, along with a second victim with non-life-threatening injuries.

    A 22-year-old female was arrested in relation to this incident and is expected to be charged.

    Around 2:35pm, further alleged fighting occurred between the same groups on Hartley Street, with some participants allegedly armed with weapons.

    Multiple police units responded, and the group once again dispersed.

    Investigations are ongoing and police urge anyone with information to make contact on 131 444. Please quote reference P25082836. You can also report anonymously through Crime Stoppers on 1800 333 000 or via https://crimestoppersnt.com.au/.

    MIL OSI News –

  • MIL-OSI Australia: Arrests – Pursuit – Northern Suburbs

    Source: Northern Territory Police and Fire Services

    The Northern Territory Police Force has arrested a 25-year-old male in relation to domestic violence offences in Darwin.

    This morning, police received intelligence that a male with an arrest warrant was within Bagot Community. It is alleged the male had been actively evading police.

    Around 7:30am, Strike Force Trident and Dog Operations Unit (DOU) established a cordon around the community and commenced a search for the alleged offender.

    A short time later, the offender and another male passenger were sighted in a vehicle driving erratically through the community and at some points on the footpath.

    A tyre deflation device was deployed, which the offending vehicle attempted to avoid by swerving at officers and colliding with the rear of a Trident vehicle.

    Multiple pursuits were commenced; however, they were terminated shortly after for safety reasons.

    At around 08:30am, DOU members sighted the vehicle stopped on Buchanan Terrace in Nakara before the offender and the passenger fled the scene on foot.

    Police deployed a taser which was ineffective, and the offender fled through a school oval on Nakara Terrace.

    Patrol Dog Boss was deployed, but the 25-year-old male scaled a 12-foot fence and fled. A second dog handler followed over the fence, caught up to the man, and he surrendered without further incident.

    The 30-year-old male passenger was also arrested and is assisting police with enquiries.

    The 25-year-old offender remains in police custody with additional charges expected to follow.

    Senior Sergeant Meacham King said, “I want to commend the work of all members involved in this arrest.

    “It’s fortunate our officers weren’t seriously injured when the Trident vehicle was struck.

    “The arrest is a testament to the strong collaboration between Strike Force Trident and Dog Operations Unit.

    “We remain committed to holding offenders to account and bringing them before the courts.”

    MIL OSI News –

  • MIL-OSI: Air India Express and Willis Lease Finance Corporation Ink Engine Sale & Leasebacks with ConstantThrust®

    Source: GlobeNewswire (MIL-OSI)

    COCONUT CREEK, Fla., March 27, 2025 (GLOBE NEWSWIRE) — Air India Express (“AIX”), a wholly owned subsidiary of Air India, has signed definitive engine sale and leaseback agreements with Willis Lease Finance Corporation (NASDAQ: WLFC) (“WLFC” or the “Company”) for 26 CFM56-7B engines installed on 13 of its Boeing 737-800 aircraft. The engines will be covered under WLFC’s ConstantThrust® program providing enhanced reliability and significant cost savings compared to traditional MRO shop visits. This program is in addition to the ConstantThrust® program signed by WLFC and Air India in 2022, covering 34 CFM56-5B engines installed on Air India’s Airbus A320 family fleet. Both programs will be managed in part by WLFC’s team located in GIFT City, India.

    WLFC’s ConstantThrust® program helps airlines manage the risk and cost of engine overhauls by providing serviceable engines from its portfolio in place of engines that need to be removed for maintenance. This streamlined process reduces engine downtime, eliminates maintenance unpredictability, and lowers engine change costs, enabling airlines to focus on their core operations without disruption.

    “WLFC’s ConstantThrust® program has been successful so far for Air India and we are pleased to expand our partnership with WLFC in support of the Air India Express fleet,” said Aloke Singh, Chief Executive Officer of Air India. “This agreement allows us to eliminate the uncertainties associated with engine maintenance and mitigate unpredictable costs. WLFC’s ConstantThrust® program will help us improve fleet reliability, reduce cost and optimize cash flows.”

    “We believe Air India Express’ decision to select ConstantThrust® evidences that Air India is realizing value from our ConstantThrust® program and also validates our team’s performance on that program, ” said Brian R. Hole, President of Willis Lease Finance Corporation. “This is a great opportunity for us to continue supporting the growth of the Indian aviation industry, in general, and the Air India family of airlines, specifically.”

    “We greatly value our long-standing relationship with Air India and are excited to continue providing innovative, programmatic solutions that deliver enhanced flexibility and cost efficiency for Air India Express and our global customers,” said Austin C. Willis, Chief Executive Officer of WLFC.

    Willis Lease Finance Corporation
    Willis Lease Finance Corporation (“WLFC”) leases large and regional spare commercial aircraft engines, auxiliary power units and aircraft to airlines, aircraft engine manufacturers and maintenance, repair, and overhaul providers worldwide. These leasing activities are integrated with engine and aircraft trading, engine lease pools and asset management services through Willis Asset Management Limited, as well as various end-of-life solutions for engines and aviation materials provided through Willis Aeronautical Services, Inc. Through Willis Engine Repair Center®, Jet Centre by Willis, and Willis Aviation Services Limited, the Company’s service offerings include Part 145 engine maintenance, aircraft line and base maintenance, aircraft disassembly, parking and storage, airport FBO and ground and cargo handling services.

    Except for historical information, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties. Do not unduly rely on forward-looking statements, which give only expectations about the future and are not guarantees. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which the forward-looking statement is based, except as required by law. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include, but are not limited to: the effects on the airline industry and the global economy of events such as war, terrorist activity and the COVID-19 pandemic; changes in oil prices, rising inflation and other disruptions to world markets; trends in the airline industry and our ability to capitalize on those trends, including growth rates of markets and other economic factors; risks associated with owning and leasing jet engines and aircraft; our ability to successfully negotiate equipment purchases, sales and leases, to collect outstanding amounts due and to control costs and expenses; changes in interest rates and availability of capital, both to us and our customers; our ability to continue to meet changing customer demands; regulatory changes affecting airline operations, aircraft maintenance, accounting standards and taxes; the market value of engines and other assets in our portfolio; and risks detailed in the Company’s Annual Report on Form 10-K and other continuing  and current reports filed with the Securities and Exchange Commission. It is advisable, however, to consult any further disclosures the Company makes on related subjects in such filings. These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995.

    NEWS RELEASE CONTACT:  Lynn Mailliard Kohler
         Director, Global Corporate Communications
       (415) 328-4798

    The MIL Network –

  • MIL-Evening Report: Dutton unveils plan to force more gas into Australian market and expand production in major pre-election pitch

    Source: The Conversation (Au and NZ) – By Wesley Morgan, Research Associate, Institute for Climate Risk and Response, UNSW Sydney

    Opposition Leader Peter Dutton says a Coalition government would introduce a long-awaited gas reservation scheme, in a budget reply speech that puts energy policy firmly at the centre of the upcoming election campaign.

    On Thursday night, Dutton pledged a national gas plan that he claimed would “prioritise domestic gas supply, address shortfalls and reduce energy prices for Australians”.

    Under the proposed reservation policy, gas companies would be required to divert more gas to the Australian market, rather than sell it overseas. Dutton also pledged measures to speed up development approvals for proposed gas projects.

    A gas reservation scheme could help to ease supply concerns in Australia. Labor is expected to announce its own plan to reserve more gas for domestic use.

    Gas reservation policy may ruffle the feathers of gas importers such as Japan. But it offers a chance to reset relations with our energy-trading partners, and position Australia as a renewable-energy powerhouse.

    However, Dutton’s plan to expand gas production is a folly. No new gas projects are needed to meet Australia’s energy needs. The best way to cut energy prices is to accelerate the shift to the cheapest form of energy – which is from wind, solar and storage.

    Gas reservation: a long time coming

    Australia is one of the world’s biggest gas exporters. But only a fraction of gas produced here is used to power our homes and businesses. Around 80% is exported or is used to liquefy gas so it can be shipped abroad.

    This means despite massive production, parts of Australia face potential gas shortages. The Australian Energy Market Operator has warned of a seasonal supply crunch in the nation’s south from 2028, as production in Bass Strait declines. Reserving gas for the domestic market instead of exporting it could close these potential gaps.

    The idea of reserving gas for use in Australia is broadly popular. It is supported by Australia’s manufacturing industry, and crossbenchers including David Pocock and Jacqui Lambie.

    Western Australia has had a gas reservation policy for more than a decade. However, federal policymakers have, to date, not followed suit.

    This is likely in part due to opposition from the gas industry, which has traditionally opposed the move, arguing it would discourage investment and create uncertainty.

    There have also been concerns the policy could harm Australia’s relations with strategic partners – especially Japan.

    Spotlight on Japan

    Australia supplied 43% of Japan’s liquefied natural gas (LNG) in 2022. Japan has previously expressed concern about federal government moves towards diverting Australia’s gas supplies for domestic use, saying it could threaten long-established trade practices and future Japanese investment.

    However, contrary to Japan’s claims, Australian gas is not needed to keep the lights on. Gas use in Japan is falling. Today, Japan on-sells more gas to other nations than it imports from Australia.

    Importantly, gas contributes to dangerous climate change – both when it leaks into the atmosphere as methane, and when it is burned, releasing carbon dioxide and other pollutants.

    Around a quarter of Australia’s greenhouse gas emissions come from the production and use of gas. Australian gas burned overseas is also responsible for substantial carbon emissions in other countries .

    Tokyo’s finance for gas projects in Australia is slowing the shift away from fossil fuels and diverting investment, workforce, and supply-chain capacity away from clean energy industries.

    Diverting Australian gas to meet local needs would help reset trading relations in our region. Australia’s economic prospects are tied to embracing our potential as a clean energy superpower. This requires signalling to our trading partners our intention to shift away from gas extraction for export.

    Japan does not need Australia’s gas to keep the lights on.
    Luciano Mortula – LGM/Shutterstock

    No new gas is needed

    In his budget reply, Dutton pledged to audit development-ready gas projects with a focus on the southern states and, as previously announced, fast-track a decision on Western Australia’s Northwest Shelf gas project.

    A Coalition government, if elected, would also:

    • invest A$1 billion into a critical gas infrastructure fund
    • increase gas pipeline and storage capacity
    • prevent gas companies from prolonged delays in drilling offshore gas fields.

    However, Australia does not need any new gas projects. We only use a fraction of what we produce.

    What’s more, evidence suggests more gas production will not bring prices down. East coast gas production has doubled over the past decade even as gas prices have tripled.

    Keeping more gas onshore may help with energy prices. But the best way to reduce power bills is to shift to the cheapest form of electricity generation – which is renewables, not gas.

    Australia’s gas use is declining as we move to cleaner, cheaper and more efficient types of energy for homes and businesses.

    On the east coast, gas consumption has declined by 25% in the past decade. Just last week the Australian Energy Market Operator found gas demand is falling faster than anticipated.

    Reducing gas use even faster would avoid potential seasonal shortages.

    Gas has a small, short-term role as Australia switches to renewables, smoothing out electricity supplies when demand exceeds generation from wind, solar and energy storage.

    But the gas won’t be used very often. And a looming surge in batteries to store renewable energy is also likely to displace gas generation at peak times.

    Research suggests production from Australia’s existing projects through to 2035 could meet our remaining gas needs for 60 years.

    A domestic reservation policy could ensure this gas is used to avoid potential supply gaps.

    Our shared clean energy future

    With a national gas reservation scheme on the table no matter who wins the election, Australia will have some tough conversations ahead with international customers – especially Japan.

    However both Australia and Japan have committed to cut emissions over the next decade and achieve net-zero emissions in their economies by 2050.

    Gas will play an ever-dwindling role in both countries in coming years, as it is replaced by cleaner forms of energy from wind, solar and storage.

    Government efforts to manage the energy transition should not encourage new gas projects. Instead, it should position Australia at the forefront of the clean energy revolution.

    Wesley Morgan is a fellow with the Climate Council of Australia.

    – ref. Dutton unveils plan to force more gas into Australian market and expand production in major pre-election pitch – https://theconversation.com/dutton-unveils-plan-to-force-more-gas-into-australian-market-and-expand-production-in-major-pre-election-pitch-253228

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Albanese to call election on Friday as Dutton pledges fuel tax relief and national gas plan

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Anthony Albanese is set to announce on Friday that Australians will go to the polls on May 3, after he makes an early morning visit to Governor-General Sam Mostyn.

    The prime minster’s timing means Thursday night’s budget reply from Opposition Leader Peter Dutton will be quickly overshadowed. A day of Senate estimates scrutiny of the budget will be also be scrapped.

    In his budget reply, Dutton announced a raft of proposed spending cuts and several new measures. The one big handout, a year-long halving of the fuel excise rate, had been foreshadowed ahead of the speech.

    Dutton announced a Coalition government would introduce a National Gas Plan to secure a domestic supply of gas, and invest $1 billion in a Critical Gas Infrastructure Fund.

    The gas plan would be aimed at ensuring the local supply, putting downward pressure on prices in the medium term.

    Meanwhile, Dutton’s proposal to cut the excise on petrol and diesel came under sharp attack on Thursday from the government.

    The excise plan is the opposition’s counter to the government’s $17 billion tax cuts announced in Tuesday’s budget, which were rushed through parliament on Wednesday night. Dutton said the “so called tax cut ‘top up’ is simply a tax cut cop-out”.

    Other Coalition initiatives announced by Dutton include a new target of 400,000 apprentices and $400 million for youth mental health.

    A Coalition government would cut Labor’s $20 billion Rewiring the Nation Fund, the $10 Housing Australia Future Fund and the $16 billion production tax credits. It would also reverse the 41,000 increase in Canberra-based public service.

    In his speech, Dutton declared the election was “as much about leadership as it’s about policy”.

    “The choice is clear at the next election,” he said, declaring he would be “a strong leader and a steady hand – just as John Howard was.

    “I will make the tough decisions – not shirk them. I will put the national interest first. I will lead with conviction – not walk both sides of the street.”

    He said he had “real life experience”, pointing to his police force service and time as a small business owner. He was “someone who came from a working-class background and knows the value of hard-work and the aspiration that drives Australians.”

    Dutton declared the Coalition would “provide the moral and political leadership needed to restore law, order, and justice”.

    “Under Labor, you will get the same weakness of leadership that has compounded crime and emboldened antisemitism on our streets,” Dutton said.

    He said that “All too often, this prime minister is too weak, too late, and too equivocal”.

    Homing in on the energy issue, Dutton said “under the Coalition, energy will become affordable and reliable again”.

    He said “the only way to drive down power prices quickly is to ramp-up domestic gas production.

    The Coalition would “prioritise domestic gas supply, address shortfalls, and reduce energy prices for Australians”.

    “We will immediately introduce an east coast gas reservation.

    “This will secure an additional 10% to 20% of the east coast’s demand – gas which would  otherwise be exported.

    “Gas sold on the domestic market will be de-coupled from overseas markets to protect Australia from international price shocks.

    “And this will drive down new wholesale domestic gas prices from over $14 per gigajoule to under 10 per gigajoule.”

    The Coalition’s investment of $1 billion in a Critical Gas Infrastructure Fund would increase gas pipeline and storage capacity,

    “We will put in place ‘use it or lose it’ stipulations for gas drilling companies – so offshore gas fields are not locked-up for years.

    “And we will ensure we will have a fit-for-purpose gas trigger to safeguard supply.

    “This plan will deliver lower wholesale gas prices which will flow through the economy.”

    Dutton said this election was “sliding doors moment for our nation”.

    “A returned Albanese Government in any form won’t just be another three bleak years. Setbacks will be set in stone.”

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

    – ref. Albanese to call election on Friday as Dutton pledges fuel tax relief and national gas plan – https://theconversation.com/albanese-to-call-election-on-friday-as-dutton-pledges-fuel-tax-relief-and-national-gas-plan-253241

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Australia: Historic investment to help deliver universal early childhood education and care

    Source: Historic Cooma Gaol listed on the NSW State Heritage Register

    The Albanese Government and the Investment Dialogue for Australia’s Children (IDAC) will partner to build supply and capacity of integrated early years services.

    The Albanese Government will provide up to $50 million through the Build Early Education Fund, toward co-investment opportunities to help build or expand integrated and holistic early learning services in areas of need.

    Philanthropic partners of IDAC have also committed to up to $50 million in-principle funding, to bring together early learning, child and maternal health services, and family and community supports.

    Philanthropic funding will also be targeted towards initiatives that strengthen a holistic early childhood development system, such as measures to strengthen the not-for-profit sector’s capacity as well as research and evaluation.

    The partnership represents one of the biggest co-investments between government and philanthropy in Australian history.

    IDAC is a flagship collaboration between the Government and philanthropic organisations to improve the health and wellbeing of children, young people, and their families.

    This co-investment is the next major step in translating commitments made at the 2024 IDAC Roundtable into action.

    The partnership also builds on the significant reforms the Albanese Government is delivering across the early childhood education and care sector, ensuring children and families have universal access to high-quality early learning.

    To learn more about these reforms visit education.gov.au/early-childhood/announcements/building-universal-early-education-and-care-system

    Quotes attributable to Treasurer Jim Chalmers:

    “The transformational power of education begins with quality early childhood education and care.

    “Every child has a right to early education no matter their background or where they live, and this partnership is a milestone on our path to universal education and care.

    “This investment isn’t just good for children, it gives parents and carers the choice to return to work or study earlier if they want to – helping families earn more and keep more of what they earn.”

    Quotes attributable to Minister for Social Services Amanda Rishworth:

    “The first years of a child’s life are vitally important to their wellbeing, education and development.

    “This partnership builds on the successes of IDAC and continues to enliven community-led solutions to meet the aspirations of communities, families and their children.

    “It is another example of the Government working together with community and philanthropy to find solutions that are led by and are meaningful for the families and children who will most benefit.”

    Quotes attributable to Minister for Early Childhood Dr Anne Aly:

    “We’re strengthening local communities by ensuring that Government and philanthropy work together to maximise our efforts and deliver for disadvantaged communities.

    “The Albanese Labor Government is laying the foundations for a truly universal early childhood education system through improving affordability, boosting supply, increasing accessibility and securing the vital workforce families rely on.

    “No child should have to carry disadvantage through their life – we know that by investing in the early years we can change the trajectory of a child’s life and improve their education and health outcomes.”

    Quotes attributable to Paul Ramsay Foundation CEO Professor Kristy Muir:

    “This is a major step towards an Australia where every child has what they need to thrive in the first critical years of life.

    “Through these co-investments, we’re creating the conditions needed for kids and families to have experiences in the early years that set them up for life.”

    Quotes attributable to Minderoo Foundation CEO John Hartman:

    “Minderoo Foundation is proud to be part of a collaborative effort with the Federal Government and other philanthropies to empower communities to break cycles of adversity by tackling issues at their root causes.

    “The most effective way to create sustainable change is to provide the resources and capability that communities need to be able to lead the way and providing infrastructure that brings services together and benefits the whole community.

    “This commitment by government and philanthropy will help build a fair future for Australian children and families.”

    Quotes attributable to The Bryan Foundation Executive Director Matthew Cox:

    “When we look to the services and supports other OECD countries have established to support their children we see highly integrated early learning, child and maternal health and family support services under the one roof providing all the help that families need.

    “This partnership will enable us to put more of these kinds of joined-up services on the ground and begin to plan for how to do this at scale.”

    Quotes attributable to Investment Dialogue for Australia’s Children Executive Convenor Simon Factor:

    “This is an exciting moment for IDAC, where ambitious discussions and significant commitments are being transformed into a record co-investment that will deliver tangible benefits for children and families.

    “This partnership represents a crucial step in building the early childhood development system of the future – one that is integrated, sustainable, and focused on delivering the best outcomes for all Australian children.”

    MIL OSI News –

  • MIL-OSI Submissions: Australia – Newly arrived communities hit harder by cost of living pressure – study – AMES

    Source: AMES

    Emerging refugee and migrant communities in Australia appear to be suffering greater cost of living stress than the broader community, a survey of community leaders has found.

    A focus group of 34 community leaders in 21 key cohort migrant and refugee groups report high levels of cost of living stress in their communities.

    In more than half of the communities, 15, the stress members face is higher than in the general community.

    The worst hit communities are members of the African, Afghan and Myanmar communities.

    Refugee communities generally are being impacted more negatively than migrant communities.

    But a counter narrative also emerged from the survey of community members using their resilience and entrepreneurialism to augment their incomes and support their communities.

    The survey also suggests cost of living pressure is having a negative impact of family violence.

    Migrant and refugee settlement agency AMES Australia has recruited a group of community embedded leaders from key newly arrived migrant and/or refugee communities to provide key insights into how issues and policy developments affect their lives.

    Eighteen of twenty-one communities surveyed in the study reported that the impact of cost of living rises was worse in their communities than in the broader community.

    Migrant communities were less like to be impacted than refugee communities and the worst affected were African, Afghan and Myanmar communities. Largely skilled migrant communities from China, India, Vietnam, Korea and Malaysia reported the level of stress was no worse than across the broader community.

    Rents, mortgages, food and utilities were cited by most communities as the areas that have seen the largest cost rises.

    Some of the worst impacted communities reported that the difficulties had brought members closer together in offering support to struggling community members.

    Eighteen of the communities reported that despite the cost of living challenges, they were still happy with life in Australia.

    Just three communities, those from Congo, Ethiopia and Eritrea, reported that they were only ‘partly’ happy with life in Australia.

    Syrian community leader ‘Norma’ said the most recently arrived members of her community were having the most difficulty.

    “Newly arrived people are having the worst time. They struggle to find a house because of the housing shortage and the fact they have no local references or rental history,” she said.

    “And even when they find a house, the rent has usually been increased significantly since the last tenant moved out,” Norma said.  

    But she said that the crisis had seen community members come together to support each other, sharing food and resources and providing emotional support.

    “Everyone is aware that some people are having hard time and so we are trying to help those in need,” she said.

    South Sudanese community leader ‘Elizabeth’ extended families and groups of friends were coming together to help each other.

    “People are reaching out and helping each through things like bulk buying food, sharing vehicles and looking after families that are particularly vulnerable.”

    “Across the community there is a lot of support for people who need it and everyone who is able to, is pitching in to help others.”

    But she said one negative effect was a rise in family violence.

    “This stress on families is sometimes ending badly with more domestic violence.”

    AMES Australia CEO Cath Scarth said the survey strongly suggested newly arrived refugee and migrant communities are more vulnerable to cost of living rises than the general community.

    “The survey also identifies areas where support for people struggling with the cost of living could make a difference,” Ms Scarth said.

    “Firstly, there is a need for more in-language information for communities about how to access the support that is available in the community and also emergency support.

    “And maybe we need to ramp up community capacity building so that these communities are better placed to help their own members,” she said.

    MIL OSI – Submitted News –

  • MIL-Evening Report: Albanese to call election on Friday as Peter Dutton announces a plan to protect gas supply for Australians

    Source: The Conversation (Au and NZ) – By Michelle Grattan, Professorial Fellow, University of Canberra

    Anthony Albanese is set to announce on Friday that Australians will go to the polls on May 3, after he makes an early morning visit to Governor-General Sam Mostyn.

    The prime minster’s timing means Thursday night’s budget reply from Opposition Leader Peter Dutton will be quickly overshadowed. A day of Senate estimates scrutiny of the budget will be also be scrapped.

    In his budget reply, Dutton announced a raft of proposed spending cuts and several new measures. The one big handout, a year-long halving of the fuel excise rate, had been foreshadowed ahead of the speech.

    Dutton announced a Coalition government would introduce a National Gas Plan to secure a domestic supply of gas, and invest $1 billion in a Critical Gas Infrastructure Fund.

    The gas plan would be aimed at ensuring the local supply, putting downward pressure on prices in the medium term.

    Meanwhile, Dutton’s proposal to cut the excise on petrol and diesel came under sharp attack on Thursday from the government.

    The excise plan is the opposition’s counter to the government’s $17 billion tax cuts announced in Tuesday’s budget, which were rushed through parliament on Wednesday night. Dutton said the “so called tax cut ‘top up’ is simply a tax cut cop-out”.

    Other Coalition initiatives announced by Dutton include a new target of 400,000 apprentices and $400 million for youth mental health.

    A Coalition government would cut Labor’s $20 billion Rewiring the Nation Fund, the $10 Housing Australia Future Fund and the $16 billion production tax credits. It would also reverse the 41,000 increase in Canberra-based public service.

    In his speech, Dutton declared the election was “as much about leadership as it’s about policy”.

    “The choice is clear at the next election,” he said, declaring he would be “a strong leader and a steady hand – just as John Howard was.

    “I will make the tough decisions – not shirk them. I will put the national interest first. I will lead with conviction – not walk both sides of the street.”

    He said he had “real life experience”, pointing to his police force service and time as a small business owner. He was “someone who came from a working-class background and knows the value of hard-work and the aspiration that drives Australians.”

    Dutton declared the Coalition would “provide the moral and political leadership needed to restore law, order, and justice”.

    “Under Labor, you will get the same weakness of leadership that has compounded crime and emboldened antisemitism on our streets,” Dutton said.

    He said that “All too often, this prime minister is too weak, too late, and too equivocal”.

    Homing in on the energy issue, Dutton said “under the Coalition, energy will become affordable and reliable again”.

    He said “the only way to drive down power prices quickly is to ramp-up domestic gas production.

    The Coalition would “prioritise domestic gas supply, address shortfalls, and reduce energy prices for Australians”.

    “We will immediately introduce an east coast gas reservation.

    “This will secure an additional 10% to 20% of the east coast’s demand – gas which would  otherwise be exported.

    “Gas sold on the domestic market will be de-coupled from overseas markets to protect Australia from international price shocks.

    “And this will drive down new wholesale domestic gas prices from over $14 per gigajoule to under 10 per gigajoule.”

    The Coalition’s investment of $1 billion in a Critical Gas Infrastructure Fund would increase gas pipeline and storage capacity,

    “We will put in place ‘use it or lose it’ stipulations for gas drilling companies – so offshore gas fields are not locked-up for years.

    “And we will ensure we will have a fit-for-purpose gas trigger to safeguard supply.

    “This plan will deliver lower wholesale gas prices which will flow through the economy.”

    Dutton said this election was “sliding doors moment for our nation”.

    “A returned Albanese Government in any form won’t just be another three bleak years. Setbacks will be set in stone.”

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

    – ref. Albanese to call election on Friday as Peter Dutton announces a plan to protect gas supply for Australians – https://theconversation.com/albanese-to-call-election-on-friday-as-peter-dutton-announces-a-plan-to-protect-gas-supply-for-australians-253241

    MIL OSI Analysis – EveningReport.nz –