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Category: Banking

  • MIL-OSI: Security National Financial Corporation Reports Financial Results For the Year Ended December 31, 2024

    Source: GlobeNewswire (MIL-OSI)

    SALT LAKE CITY, March 31, 2025 (GLOBE NEWSWIRE) — Security National Financial Corporation (SNFC) (NASDAQ symbol “SNFCA”) announced financial results for the year ended December 31, 2024.

    For the twelve months ended December 31, 2024, SNFC’s after-tax earnings from operations increased 83% from $14,495,000 in 2023 to $26,536,000 in 2024, on a 5% increase in revenues to $334,523,000.

    Scott Quist, Chairman of the Board, President, and Chief Executive Officer of SNFC, said, “2024 marked another year of solid progress for our Company. Our Life Insurance Segment had its best operational year ever, delivering a 25% improvement over 2023 which was its previous best year ever. We believe there is much opportunity for growth as we evaluate our competitive positions, improve the value propositions for our sales force, and increase premium rates where appropriate. We have spent much effort modernizing our commission systems with increased flexibility and capability to better reward our high performing sales professionals. 2024 was our Cemetery and Mortuary Segment’s best year ever improving 5% over 2023 which was its previous best year ever. We spent much time to better organize and train our staffs to provide the best care possible in the inherently sensitive situations within which we provide service. It is instructive to note that our Utah based Cemetery and Mortuary group has received the “Best in State” award for the last 7 consecutive years, a very significant recognition of the quality services we provide. In that same vein it should be noted that as a total Security National Financial organization we have received the “Top Workplace Award” for the last 9 consecutive years, which award highlights our commitment to our employees. Our Mortgage Segment delivered a solid performance, decreasing its loss by over $11 million dollars (64%) while increasing its revenue by over 8%. The mortgage industry as a whole continues to be profit challenged, with Q4 being Production Income negative according to the Mortgage Bankers Association.   Our talented management group continues to work on streamlining, rightsizing, adding quality personnel, and consolidating operations where possible, to provide consistently competitive rates and customer experience in a tough environment. Across all our Segments we have made very concerted efforts to provide all our sales forces the tools and accountability necessary to increase their incomes in this inflation-challenged economy by improving efficiency and increasing the value provided to our consumers.   Lastly I will say that any year that we as a total organization improve our before tax income by over 100%, is a very good year.”

    SNFC has three business segments. The following table shows the revenues and earnings before taxes for the twelve months ended December 31, 2024, as compared to 2023, for each business segment:

      Revenues   Earnings before Taxes
        2024     2023         2024       2023    
    Life Insurance $ 191,530,000   $ 185,176,000   3.4 %   $ 31,456,000     $ 25,272,000   24.5 %
                           
    Cemeteries/Mortuaries $ 33,022,000   $ 31,938,000   3.4 %   $ 8,861,000     $ 8,444,000   4.9 %
                           
    Mortgages $ 109,971,000   $ 101,383,000   8.5 %   $ (6,213,000 )   $ (17,416,000 ) 64.3 %
                           
    Total $ 334,523,000   $ 318,497,000   5.0 %   $ 34,104,000     $ 16,300,000   109.2 %
                           

    Net earnings per common share was $1.11 for the twelve months ended December 31, 2024, compared to net earnings of $.61 per share for the prior year, as adjusted for the effect of annual stock dividends. Book value per common share was $14.45 as of December 31, 2024, compared to $13.44 as of December 31, 2023.

    The Company has two classes of common stock outstanding, Class A and Class C. There were 23,451,432 Class A equivalent shares outstanding as of December 31, 2024.

    This press release contains statements that, if not verifiable historical fact, may be viewed as forward-looking statements that could predict future events or outcomes with respect to Security National Financial Corporation and its business. The predictions in the statements will involve risk and uncertainties and, accordingly, actual results may differ significantly from the results discussed or implied in such forward-looking statements.

    If there are any questions, please contact Mr. Garrett S. Sill or Mr. Scott Quist at:

    Security National Financial Corporation
    P.O. Box 57250
    Salt Lake City, Utah 84157
    Phone (801) 264-1060
    Fax (801) 265-9882

    The MIL Network –

  • MIL-OSI: Annual information for 2024

    Source: GlobeNewswire (MIL-OSI)

    We are providing the Annual information for 2024 which consists of the audited the separate financial statements of Šiaulių Bankas AB (“the Bank”), the consolidated financial statements of Šiaulių Bankas AB and its subsidiaries (“the Group”), Independent Auditor’s Report and the Consolidated Management Report.

    Additional information:

    Tomas Varenbergas

    Head of Investment Management Division

    tomas.varenbergas@sb.lt

    Attachments

    The MIL Network –

  • MIL-OSI: Sydbank share buyback programme: transactions in week 13

    Source: GlobeNewswire (MIL-OSI)

    Company Announcement No 13/2025

    		 Peberlyk 4
    6200 Aabenraa
    Denmark

    Tel +45 74 37 37 37
    Fax +45 74 37 35 36

    Sydbank A/S
    CVR No DK 12626509, Aabenraa
    sydbank.dk
    31 March 2025  

    Dear Sirs

    Sydbank share buyback programme: transactions in week 13
    On 26 February 2025 Sydbank announced a share buyback programme of DKK 1,350m. The share buyback programme commenced on 3 March 2025 and will be completed by 31 January 2026.

    The purpose of the share buyback programme is to reduce the share capital of Sydbank and the programme is executed in compliance with the provisions of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 and Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016, collectively referred to as the Safe Harbour rules.

    The following transactions have been made under the share buyback programme:

      Number of shares VWAP Gross value (DKK)
    Accumulated, most recent
    Announcement

    168,000

    		  

    74,264,620.00
    24 March 2025
    25 March 2025
    26 March 2025
    27 March 2025
    28 March 2025    		 19,000
    19,000
    13,000
    13,000
    19,000    		 430.60
    437.14
    443.37
    444.66
    437.82    		 8,181,400.00
    8,305,660.00
    5,763,810.00
    5,780,580.00
    8,318,580.00
    Total over week 13 83,000   36,350,030.00
    Total accumulated during the
    share buyback programme    		 251,000   110,614,650.00

    All transactions were made under ISIN DK 0010311471 and effected by Danske Bank A/S on behalf of Sydbank A/S.

    Further information about the transactions, cf Article 5 of Regulation (EU) No 596/2014 of the European Parliament and of the Council on market abuse and Commission delegated regulation, is available in the attachment.

    Following the above transactions, Sydbank holds a total of 3,648,502 own shares, equal to 6.68% of the Bank’s share capital.

    Yours sincerely
            
    Mark Luscombe        Jørn Adam Møller
    CEO        Deputy Group Chief Executive

    Attachment

    The MIL Network –

  • MIL-OSI: Strategic decision – Šiaulių bankas will rebrand to Artea this May

    Source: GlobeNewswire (MIL-OSI)

    On 31 March 2025 The General Meeting of Shareholders of AB Šiaulių Bankas unanimously agreed to decision to change the bank’s name to AB Artea bankas. It is expected that the Bank will start operating under the new name and brand as of 5 May, this year.

     

    “This is a historic moment and one of the biggest and most significant changes in the history of the Bank. This change will be directly felt by half a million customers of our Bank Group, as well as thousands of corporate customers and partners.

    We aim to continue to be even closer to our customers, providing accessible, flexible and modern banking services.

    Artea is more than a new name. It is a strategic change for the bank, extending to our approach to services, customers, partners, employees, investors and community. Changes are comming very soon,” says Vytautas Sinius, CEO of Šiaulių Bankas.

    While rebranding, Šiaulių bankas remains the largest Lithuanian-owned bank in the country. Its main shareholders – Lithuanian business leaders Invalda INVL, Tesonet Global, Willgrow and the international European Bank for Reconstruction and Development (EBRD) – unchanged.

    The Bank has been consistently preparing for this change and in the comming period will focus on ensuring the rebranding won‘t cause any inconvenience to its customers, who will be able to enjoy smooth access to the daily services provided under the new name Artea.

    “We felt that the current name of the bank, which we grew up with and became what we are today, did not reflect our scale and ambition to become the best bank in Lithuania and the first choice for the residents and businesses. We aim to become a bank you want to grow with,” states Vytautas Sinius.

    If you would like to receive Šiaulių Bankas’ news for investors directly to your inbox, subscribe to our newsletter.

     

    Additional information:
    Tomas Varenbergas
    Head of Investment Management Division
    tomas.varenbergas@sb.lt

    The MIL Network –

  • MIL-OSI: Inbank appoints Erkki Raasuke as Chairman of the Supervisory Board

    Source: GlobeNewswire (MIL-OSI)

    Today, on 31 March 2025, the Supervisory Board of AS Inbank appointed Erkki Raasuke, an existing Supervisory Board Member, as Chairman of the Supervisory Board for a three-year term, effective 1 April 2025.

    Additionally, at the Annual General Meeting held today, Isabel Margaret Anne Faragalli and Sergei Anikin were elected to the Supervisory Board for a three-year term, effective 1 April 2025.

    According to Jan Andresoo, the former Chairman of the Inbank Supervisory Board, the appointment of two new independent members and a new Chairman marks a significant step toward a more diverse and independently governed Supervisory Board, which is essential for Inbank’s journey to becoming a public company.

    “With Erkki Raasuke leading our Supervisory Board, Inbank gains outstanding expertise in corporate governance, backed by decades of executive experience in banking. His strategic mindset and strong work ethic will be invaluable as we navigate the next phase of our development, and I look forward to working with him,” said Jan Andresoo.

    “My professional collaboration with founders Priit and Jan dates back over 20 years. Ever since, I have admired their strategic acumen, entrepreneurial spirit, and strong execution capabilities. Building on these qualities, they have successfully developed a dynamic and agile international business with a strong culture and a highly dedicated team. I am honored to be part of this team and contribute my knowledge and expertise in supporting its continued success. As Chairman, I will focus on steering a high-value, strategically engaged Supervisory Board while actively overseeing risk and audit matters to further strengthen Inbank’s governance and resilience,” said Erkki Raasuke.

    Jan Andresoo will remain a Member of the Supervisory Board and take on a hands-on leadership role in shaping Inbank’s new products and channels strategy, supporting the company’s transition into a platform business ahead of its IPO journey.

    “Inbank remains a founder-led company, with CEO Priit Põldoja and I actively engaged in building and steering the company toward future growth. My focus will be on ensuring that Inbank continues to innovate and deliver value to our merchant partners and customers,” said Jan Andresoo.

    Isabel Faragalli and Sergei Anikin do not hold Inbank shares.

    The Inbank Supervisory Board will consist of seven members, including Erkki Raasuke, Jan Andresoo, Roberto de Silvestri, Triinu Bucheton, Raino Paron, and the newly elected members Isabel Faragalli, and Sergei Anikin.

    Erkki Raasuke is a seasoned financial executive, non-executive board member, and strategic advisor with extensive experience in banking and corporate governance.  From 1994 to 2011, Erkki worked at Hansapank and later Swedbank, holding various senior leadership roles, including CFO and Chairman of the Board. Between 2012 and 2013, he advised the Ministry of Economic Affairs and Communications, focusing on state-owned enterprise governance. He later served as Managing Director of LHV Group (2013-2016), CEO of Luminor Bank (2016–2020) and as CFO at Skeleton Technologies (2021–2024).

    Currently, Erkki serves as Chairman of the Supervisory Board at the Estonian Business and Innovation Agency (EIS) and has been a Supervisory Board Member at Enefit Green since 2021. He joined the Inbank Supervisory Board in 2023.

    Jan Andresoo co-founded Inbank in 2010 and served as its CEO until 2021, with a primary focus on product strategy. Since 2021, he has chaired Inbank’s Supervisory Board. In addition to his role at Inbank, Jan co-founded Paywerk, a cross-border BNPL e-commerce platform, in 2021, which was acquired by Swedbank in 2024. Between 2006 and 2010, he held various executive positions at Swedbank Leasing. He has also been actively involved in the launch and scale-up of Coop Finants, Veriff, and PSP Maksekeskus.

    Inbank is a financial technology company with an EU banking license that connects merchants, consumers and financial institutions on its next generation embedded finance platform. Partnering with more than 6,000 merchants, Inbank has 872,000+ active contracts and collects deposits across 7 markets in Europe. Inbank bonds are listed on the Nasdaq Tallinn Stock Exchange.

    Additional information:
    Styv Solovjov
    AS Inbank
    Head of Investor Relations
    +372 5645 9738
    styv.solovjov@inbank.ee

    The MIL Network –

  • MIL-OSI Europe: The ESAs call for vigilance amid rising geopolitical and cyber risks

    Source: European Banking Authority

    The three European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) today published their Spring 2025 Joint Committee update on risks and vulnerabilities in the EU financial system, which focuses on the challenges linked to geopolitical tensions and cyber risks.

    The ESAs warn that growing geopolitical tensions and rising cyber risks present significant challenges to financial stability. These include trade disputes, rapidly shifting policies, ongoing international conflicts and the prospect of economic fragmentation which are reshaping global markets, requiring heightened vigilance and adaptability from supervisors and financial entities alike.

    Financial institutions must navigate growing uncertainties, including exposure to international markets, liquidity risks and the evolving role of artificial intelligence (AI). Ensuring resilience in the face of these developments is crucial.

    The ESAs, therefore, emphasise the need for proactive risk management, stronger cyber resilience and a close monitoring of global financial linkages. As financial markets continue to evolve, international cooperation and regulatory preparedness will be key to maintaining stability. Against a background of high geopolitical risks, the ESAs recommend that supervisors and financial entities prepare for continued market volatility, consider the potential materialisation of liquidity risks and stand ready to adapt to adverse developments, including by provisioning adequately.

    To better manage cyber and digitalisationrisks, supervisors and financial institutions should continue to strive for robust data governance, critically assess AI solutions and their compliance with the AI Act, and support the timely implementation of the Digital Operational Resilience Act’s provisions.

    Background

    This Spring 2025 Joint Committee update on Risks and Vulnerabilities was presented at the meeting of the Financial Stability Table of the EU’s Economic and Financial Committee (FST-EFC) on 27-28 March 2025 as input from the ESAs.

    MIL OSI Europe News –

  • MIL-OSI: Resolutions of the Ordinary General Meeting of Shareholders

    Source: GlobeNewswire (MIL-OSI)

    Resolutions of the Ordinary General Meeting of Shareholders

    Actions taken and resolutions made according to agenda issues of the Ordinary General Meeting of Shareholders on 31 March 2025:

    1. Presentation of the consolidated management report of Šiaulių bankas AB for 2024.

    The consolidated management report was introduced (enclosed).

    1. Presentation of the conclusion of the independent auditor of Šiaulių bankas AB and the conclusion of the assurance of sustainability reporting.

    The conclusion of the independent auditor and the conclusion of the assurance of sustainability reporting were introduced (enclosed).

    1. Comments and proposals of Šiaulių bankas AB Supervisory Council.

    The comments and proposals of the Bank’s Supervisory Council were announced.

    1. Selection of the audit company to provide sustainability reporting assurance services for the period 2024-2025 and determination of payment terms.

    Resolved:

    1)    To elect UAB “KPMG Baltics” as the audit company to provide sustainability reporting assurance services for Šiaulių bankas AB and the group for the years 2024 and 2025.

    2)    To determine the price for the sustainability reporting assurance services of Šiaulių bankas AB and the group for the years 2024-2025 at EUR 145 500 (excluding VAT).

    1. Approval of the set of audited financial statements of Šiaulių bankas AB and the group for 2024.

    The set of financial statements for 2024 has been approved (enclosed).

    6.    Allocation of Šiaulių bankas AB profit for 2024.

    The allocation of Šiaulių bankas AB profit has been approved (enclosed).

    According to approved profit allocation EUR 0.061 dividends per one ordinary registered EUR 0.29 nominal value share will be paid. Record date is 14 April 2025.

    7.    Determination of the procedure for the acquisition of Šiaulių bankas AB own shares.

     

    1)    Resolved to acquire Bank own shares under the following conditions:

    1. the purpose of acquisition of own shares is to reduce the authorized capital of the Bank by cancelling the shares purchased by the Bank; and / or to grant to the employees of the Bank, as well as it’s Group under the approved variable renumeration and payment programmes;
    2. maximal acquisition price per share – 20% higher than the market price of the Bank’s shares on the Nasdaq Vilnius Stock Exchange, when the Management Board makes a decision on the purchase of its own shares;
    3. minimum purchase price of the shares – 10% lower than the market price of the Bank’s shares on the Nasdaq Vilnius Stock Exchange when the Bank’s Management Board decides to buy back its own shares;
    4. the time limit for the Bank to acquire its own shares – 18 months from the date of adoption of this decision;
    5. maximal number of shares to be acquired – no more than 7 000 000 shares;
    6. the procedure for sale of own shares and the minimum selling price – the purchased shares are not planned to be sold and therefore the minimum selling price and the selling procedure for the shares are not determined;

      vii.        to delegate the Management Board of the Bank, in accordance with the provisions of this resolution and the requirements of the Law on Companies of the Republic of Lithuania, the requirements of the Law on Banks of the Republic of Lithuania and other legal acts, as well as, when required with the permission of the supervisory authorities, to make specific decisions regarding the purchase of the Bank’s own shares, to organize buyback of own shares, determine the method and procedure for buying back shares, the time, exact number and price of shares to be acquired, as well as perform other actions related to the purchase and sale of own shares.To establish that after adopting this resolution the resolution of the General Meeting of Shareholders of 29 March 2024 regarding acquisition of the Bank’s own shares shall expire.

     

    2)    To establish that after adopting this resolution the resolution of the General Meeting of Shareholders of 29 March 2024 regarding acquisition of the Bank’s own shares shall expire.

     

    8.    Approval of the new version of the Articles of Association of Šiaulių bankas AB.    

    The Article of Association of Šiaulių bankas AB was approved (enclosed).

    1. Approval of the reduction of the authorised capital of Šiaulių bankas AB and the amendment of the Articles of Association.

    Resolved:

    1)    To reduce the authorised capital of Šiaulių bankas AB from EUR 192 269 027,34 to EUR 189 195 680,13 by annulling 10 597 749 ordinary registered uncertificated shares of Šiaulių bankas AB with a nominal value of EUR 0,29 each. The total value of the shares to be cancelled is EUR 3 073 347,21. The purpose of the reduction of the authorised capital is to annul the shares acquired by Šiaulių bankas AB.

    2)    To amend Clause 3.4 of the Articles of Association of Šiaulių bankas AB and to approve the new draft of the Articles of Association: “3.4. The authorized capital of the Bank shall be the total amount of the par values of all registered shares. The authorized capital of the Bank shall amount to EUR 189 195 680.13. The authorized capital of the Bank shall be divided into 652 398 897 ordinary registered shares. The par value of one share shall be EUR 0.29”

    3)    To authorise the CEO of Šiaulių bankas AB or another person duly authorised by him to sign the new version of the Articles of Association and to arrange for the registration of the amended Articles of Association in accordance with the procedure established by law after obtaining the supervisory authority’s permission to register the amendment to the Articles of Association relating to the reduction of the authorised capital (enclosed).

     

    10.  Approval of the updated Remuneration Policy of Šiaulių bankas AB.             

    The Remuneration Policy of Šiaulių bankas AB was approved (enclosed).

    11.  Approval of the updated Rules for Granting Shares of Šiaulių bankas AB.

    The Rules for Granting Shares of Šiaulių bankas AB was approved (enclosed).

    1. Election of the member of Šiaulių bankas AB Supervisory Council.

    Resolved:

    1)    To elect John Michael Denhof as a member of the Supervisory Council of Šiaulių bankas AB until the end of the tenure of the current Supervisory Council.

    2)    To determine that the elected person will take up his position as a member of the Supervisory Council of Šiaulių bankas AB only after receiving the permission of the supervisory authority.

     

    Additional information:
    Tomas Varenbergas
    Head of the Investment Management Division
    Email:     tomas.varenbergas@sb.lt

    Attachments

    The MIL Network –

  • MIL-OSI: BayFirst Announces First Quarter 2025 Conference Call and Webcast

    Source: GlobeNewswire (MIL-OSI)

    ST. PETERSBURG, Fla., March 31, 2025 (GLOBE NEWSWIRE) — BayFirst Financial Corp. (NASDAQ: BAFN) (“BayFirst” or the “Company”), parent company of BayFirst National Bank (the “Bank”) today announced that it will report its first quarter results after the market close on Thursday, April 24, 2025. Management will host a conference call on Friday, April 25, 2025, at 9:00 a.m. ET to discuss the results. The call will also be broadcast live via the internet.

    Interested investors may listen to the call live under the Investor Relations tab at www.bayfirstfinancial.com. Investment professionals are invited to dial (800) 549-8228 to participate in the call using Conference ID 90275. A replay of the call will be available for one year at www.bayfirstfinancial.com.

    About BayFirst Financial Corp.

    BayFirst Financial Corp. is a registered bank holding company based in St. Petersburg, Florida which commenced operations on September 1, 2000. Its primary source of income is derived from its wholly owned subsidiary, BayFirst National Bank, a national banking association which commenced business operations on February 12, 1999. The Bank currently operates twelve full-service banking offices throughout the Tampa Bay-Sarasota region and offers a broad range of commercial and consumer banking services to businesses and individuals. It was named the best bank in Florida in 2024, according to Forbes and was the 9th largest SBA 7(a) lender by number of units originated and 16th largest by dollar volume nationwide through the SBA’s quarter ended December 31, 2024. As of December 31, 2024, BayFirst Financial Corp. had $1.29 billion in total assets.

    Forward-Looking Statements

    In addition to the historical information contained herein, this presentation includes “forward-looking statements” within the meaning of such term in the Private Securities Litigation Reform Act of 1995. These statements are subject to many risks and uncertainties, including, but not limited to, the effects of health crises, global military hostilities, weather events, or climate change, including their effects on the economic environment, our customers and our operations, as well as any changes to federal, state or local government laws, regulations or orders in connection with them; the ability of the Company to implement its strategy and expand its banking operations; changes in interest rates and other general economic, business and political conditions, including changes in the financial markets; changes in business plans as circumstances warrant; risks related to mergers and acquisitions; changes in benchmark interest rates used to price loans and deposits, changes in tax laws, regulations and guidance; and other risks detailed from time to time in filings made by the Company with the SEC, including, but not limited to those “Risk Factors” described in our most recent Form 10-K and Form 10-Q. Readers should note that the forward-looking statements included herein are not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking statements.

    Contacts:  
    Thomas G. Zernick Scott J. McKim
    Chief Executive Officer Chief Financial Officer
    727.399.5680 727.521.7085

    The MIL Network –

  • MIL-OSI: authID Announces Pricing of Approximately $8,150,000 Million Registered Direct Offering

    Source: GlobeNewswire (MIL-OSI)

    DENVER, March 31, 2025 (GLOBE NEWSWIRE) — authID Inc. (NASDAQ: AUID) (“authID” or the “Company”), a leading provider of biometric identity verification and authentication solutions, today announced it has entered into a definitive agreement with investors to sell approximately 1,811,111 shares  of its common stock (the “Shares”) and/or Pre-Funded Warrants (the “Pre-Funded Warrants”), pursuant to a registered direct offering (the “Registered Direct Offering”). The purchase price for one Share or Pre-Funded Warrant will be $4.50, (each Pre-Funded Warrant will be exercisable into one share of common stock). The aggregate gross proceeds from the Offering are expected to be approximately $8,150,000 million before deducting placement agent fees and other offering expenses.

    The closing of the Registered Direct Offering is expected to occur on or about April 1, 2025, subject to the satisfaction of customary closing conditions.

    Dominari Securities LLC and Madison Global Partners, LLC, acted as Co-Placement Agents for the offering.

    Upon closing of this Registered Direct Offering, an Advisory Board will be created, comprising of the following advisors, each having extensive experience in different industry and government sectors where authID’s biometric identity solutions can address critical needs.

    Eric Swider served as the CEO of Digital World Acquisition Corp. (NASDAQ: DWAC) which merged with Trump Media and Technology Group (NASDAQ: DJT), bringing the company public. He currently sits on the public board of the combined company. Mr. Swider founded Renatus Advisors and has been serving as the Managing Partner of Renatus LLC since June 2016.  He is also the co-founder and CEO of Rubidex, a company providing data security through decentralized data storage and blockchain technology.

    Eric Swider said “I am thrilled to participate as both an advisor and investor in authID.  Biometrics will continue to play an increasingly important role as technology evolves and AI is relied upon.  AuthID has a biometric authentication platform proven to provide value beyond the standard participants in this market. I believe there is an opportunity for the company to benefit from these advantages.”

    “Rubidex is a company providing an evolution in data security through decentralized data storage combined with the protection of blockchain technology, I know firsthand the value authID’s biometric PrivacyKey technology offers. I look forward to leveraging both Rubidex’s customers and my other business relationships to help accelerate adoption and growth in the market,” added Swider.

    Donald Nitti is the Founder and Chief Investment Officer of Chroma Ventures, where he has spent over a decade investing in leading technology companies across enterprise, data, and consumer sectors. Some of his notable early and growth-stage pre-IPO investments include Palantir, DigitalOcean, Lyft, Alibaba, and Rubrik. He is also an investor in forward-looking companies such as Apptronik and Radiant Nuclear.

    “I’m incredibly excited to work with the authID management team for years to come. Their technology is truly best-in-class and represents a powerful solution for a wide range of companies. Beyond Chroma’s internal network, I believe many of our co-investment partners will recognize the value that authID brings and will seriously consider how to integrate their solutions across their portfolio companies as well”, said Nitti.

    Mr. Kyle Wool, President of Dominari Holdings Inc. (NASDAQ: DOMH) commented, “My firm is committed to making American companies great, and Dominari Holdings is proud to be the lead placement agent for a company that protects American citizens, especially our youth, from deep fake technologies.  Dominari Securities, our wholly owned Investment Bank, acted as lead placement agent on this important transaction to assist authID in advancing its mission of protecting users by quickly and accurately verifying user’s identity and preventing cybercriminals from taking over accounts.  We appreciate the assistance provided by our Board of Advisors on the transaction, who offered keen insight on the deal. Our goal is to build great American companies.  We are proud to add authID to that list.”

    “The addition of our newly appointed prominent advisors Eric Swider and Donald Nitti is a pivotal moment for our company as it expands authID’s presence by bringing extensive experience and expertise in government and private sector markets opening new opportunities for our industry leading biometric authentication solutions,” said Rhon Daguro, CEO of authID. Our mission is to eliminate fraud and stop account take overs driven by deep fakes. We are extremely pleased to have Kyle Wool and Dominari Holdings assisting us in achieving our goal. 

    authID intends to use the net proceeds for working capital and general corporate purposes.

    The Shares offered in the Registered Direct Offering are being offered by the Company pursuant to a shelf registration statement (Registration No. 333-283580) filed with the Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on December 13, 2024. The offering is being made only by means of a prospectus supplement and accompanying prospectus. A prospectus supplement and accompanying prospectus relating to the Registered Direct Offering will be filed with the SEC and, when available, may be obtained for free on the SEC’s website located at http://www.sec.gov. Electronic copies of the final prospectus supplement and accompanying prospectus relating to the Registered Direct offering may be obtained by contacting Madison Global Partners, LLC, Attention: David S. Kaplan, 350 Motor Parkway, Suite 205, Hauppauge, NY 11788, by email at info@madisonglobalpartners.com, or by telephone at (646) 690-0330.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About authID Inc.

    authID (Nasdaq: AUID) ensures enterprises “Know Who’s Behind the Device™” for every customer or employee login and transaction through its easy-to-integrate, patented biometric identity platform. authID quickly and accurately verifies a user’s identity and eliminates any assumption of ‘who’ is behind a device to prevent cybercriminals from compromising account openings or taking over accounts. Combining secure digital onboarding, biometric authentication, and account recovery with a fast, accurate, user-friendly experience, authID delivers biometric identity processing in 700ms. With our ground-breaking PrivacyKey Solution, authID delivers all the benefits of biometric identity verification, with a 1-to-1-billion false match rate, while storing no biometric data. Binding a biometric root of trust for each user to their account, authID stops fraud at onboarding, detects and stops deepfakes, prevents account takeover, eliminates password risks and costs, and provides the fastest, most frictionless, and most accurate user identity experience demanded by today’s digital ecosystem. Contact us to discover how authID can help your organization secure your workforce or consumer applications against identity fraud, cyberattacks, and account takeover.

    For more information, please visit authid.ai.

    Media Contacts

    NextTech Communications
    Walter Fowler
    1-631-334-3864
    wfowler@nexttechcomms.com

    Investor Relations Contacts
    Investor-Relations@authid.ai

    Gateway Group, Inc.
    Alex Thompson
    1-949-574-3860
    AUID@gateway-grp.com

    Cautionary Statement Regarding Forward-Looking Statements:

    This Press Release includes “forward-looking statements.” All statements other than statements of historical facts included herein are forward-looking statements. Actual results may vary materially from the results anticipated by these forward-looking statements as a result of a variety of risk factors. See the Company’s Annual Report on Form 10-K for the Fiscal Year ended December 31, 2024, filed at www.sec.gov and other documents filed with the SEC for risk factors which investors should consider. These forward-looking statements speak only as to the date of this release and cannot be relied upon as a guide to future performance. authID expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this release to reflect any changes in its expectations with regard thereto or any change in events, conditions, or circumstances on which any statement is based.

    The MIL Network –

  • MIL-OSI Africa: Oando PLC Joins Afreximbank’s AfrexInsure Portfolio

    Source: Africa Press Organisation – English (2) – Report:

    CAIRO, Egypt, March 31, 2025/APO Group/ —

    AfrexInsure, the wholly-owned Specialty Insurance Subsidiary of African Export-Import Bank (“Afreximbank” or the “Bank”) (www.Afreximbank.com), has announced its onboarding of Oando PLC as one of its strategic clients, further strengthening the business relationship between Oando PLC and the Bank.

    With Oando on board its clientele portfolio, this new development aligns with Afreximbank’s financial support to the company, with critical risk management solutions, ensuring that the Bank’s investment in Oando PLC’s operations in Nigeria is safeguarded through tailored Specialty Insurance Solutions. By mitigating operational and geopolitical risks, the collaboration would enhance Oando’s resilience, promote sustainable energy development and reinforce Afreximbank’s commitment to economic growth and regional stability in the trade ecosystem.

    Commenting on the partnership, Jonas Mushosho, CEO and Principal Officer of AfrexInsure, said: “This strategic collaboration between Oando and AfrexInsure will help promote local content in Africa’s oil and gas sector. The collaboration, which also underscores a shared commitment aimed at fostering economic empowerment and contributing to the sustainable development of Africa’s natural resources, will also strengthen the African insurance sector by retaining premium flows within the continent and fostering Africa’s financial sustainability.”

    Mr. Mushosho, who noted that Oando PLC and Afreximbank had established a significant business relationship aimed at enhancing trade development in Africa’s energy sector, added that, many multinationals doing business in Africa face high levels of risk in the current volatile and uncertain environment. Greater availability of affordable trade and trade related specialty insurance solutions could mitigate those risks and encourage firms to engage in enhanced industrialisation and export development activities. “This win by AfrexInsure shows how we are supporting the growth of trade and development in Africa by providing required Insurance management services, giving investors the confidence to make investments in Africa. By using African securities, specialty insurance premiums raised in Africa are retained on the continent and are used to contribute to its overall trade and economic development,” he said.

    Commenting on this announcement, Wale Tinubu CON, Group Chief Executive, Oando PLC, said: “We have a longstanding relationship with Afreximbank where we have seen the Bank support our vision for energy in Africa, not only with essential financing but also with invaluable guidance and advisory support. Following our recent acquisition, a tailored risk identification and mitigation approach is paramount. We are confident that our collaboration with AfrexInsure will provide the necessary oversight to ensure both the adequacy and comprehensiveness of our risk management strategy.”

    Afreximbank’s partnership with Oando has included a pivotal role in financing the company’s strategic initiatives in Nigeria’s oil and gas sector, including:

    • Facilitating a US$650-million financing for Oando PLC’s acquisition of Nigerian Agip Oil Company Assets in August 2024, which is expected to enhance Oando’s production capacity from 20,000 to 100,000 barrels of oil equivalent per day, boosting Nigeria’s oil output and economic growth; and
    • Oando PLC’s June 2024 participation, through its Oando Trading subsidiary (“Oando Trading”), in Project Gazelle, the US$3.3-billion structured crude oil-backed finance facility sponsored by the Nigerian National Petroleum Company Limited, in which Oando Trading contributed US$550 million to a US$925-million accordion facility arranged by Afreximbank.

    Established by Afreximbank, AfrexInsure provides specialty insurance products to ensure that right-fit insurance solutions are secured for African clients. The subsidiary provides comprehensive and tailored solutions that secure assets owned by clients and that meet bankability requirements of project funders. It draws on expertise, personalized approach and market knowledge to guarantee that Intra-African Trade Champions and multinationals receive value from programmes backed by top rated insurers capable of paying claims.

    By placing its programme with pan-African (re)insurers and strong local underwriters, AfrexInsure achieves the retention of premiums in Africa, making it possible for such funds to be invested on the continent where African businesses can access them at lower cost.

    MIL OSI Africa –

  • MIL-OSI: Veritex Holdings, Inc. Announces Extension of Stock Buyback Program

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, March 31, 2025 (GLOBE NEWSWIRE) — Veritex Holdings, Inc. (Nasdaq: VBTX) (“Veritex” or “the Company”), the parent holding company for Veritex Community Bank, today announced that its Board of Directors (the “Board”) authorized the extension of the stock buyback program (the “Stock Buyback Program”) through March 31, 2026, pursuant to which the Company is authorized to purchase up to $50.0 million shares of the Company’s outstanding common stock. To date, the Company has repurchased 555,016 shares, or $13.1 million under the Stock Buyback Program. The Stock Buyback Program may be suspended, terminated, amended or modified by the Board at any time without prior notice at the Board’s discretion. The Stock Buyback Program was originally approved by the Board in 2024 and was set to expire on March 31, 2025. Other than the extension of the Stock Buyback Program for an additional year, no changes were made to the Stock Buyback Program.

    The Stock Buyback Program is expected to be funded using the Company’s cash on hand and cash from operations of Veritex Community Bank. Repurchases under the Stock Buyback Program may be made, from time to time, in amounts and at prices the Company deems appropriate. The Stock Buyback Program does not obligate the Company to purchase any shares of its common stock. Repurchases by the Company under the Stock Buyback Program will be subject to general market and economic conditions, applicable legal and regulatory requirements and other considerations.

    About Veritex Holdings, Inc.

    Headquartered in Dallas, Texas, Veritex is a bank holding company that conducts banking activities through its wholly-owned subsidiary, Veritex Community Bank, with locations throughout the Dallas-Fort Worth metroplex and in the Houston metropolitan area. Veritex Community Bank is a Texas state chartered bank regulated by the Texas Department of Banking and the Board of Governors of the Federal Reserve System. For more information, visit www.veritexbank.com.

    Forward Looking Statement

    This press release includes “forward-looking statements,” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements include statements regarding Veritex’s projected plans and objectives, including expectations about share repurchases. Forward-looking statements are typically identified by words such as “believe,” “expect,” “anticipate,” “intend,” “target,” “estimate,” “seek,” “plan,” “outlook,” “continue,” “positions,” “prospects” or “potential,” by future conditional verbs such as “will,” “would,” “should,” “could” or “may”, or by variations of such words or by similar expressions. These forward-looking statements are subject to numerous assumptions, risks and uncertainties which change over time and are beyond Veritex’s control. Forward-looking statements speak only as of the date they are made and Veritex assumes no duty to supplement, update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. We refer you to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Veritex’s Annual Report on Form 10-K for the year ended December 31, 2024 and any updates to those risk factors set forth in Veritex’s Current Reports on Form 8-K and other filings with the Securities and Exchange Commission (“SEC”), which are available on the SEC’s website at www.sec.gov. If one or more events related to these or other risks or uncertainties materialize, or if Veritex’s underlying assumptions prove to be incorrect, actual results may differ materially from what Veritex anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made. Veritex does not undertake any obligation, and specifically declines any obligation, to supplement, update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, expressed or implied, included in this press release are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that Veritex or persons acting on Veritex’s behalf may issue.

    Source: Veritex Holdings, Inc.

    The MIL Network –

  • MIL-OSI Global: The Panama Canal’s other conflict: Water security for the population and the global economy

    Source: The Conversation – USA – By Karina Garcia, Researcher and Lecturer in Climate, Universidad Tecnológica de Panamá

    The Panama Canal carries cargo ships between the Atlantic and Pacific oceans, cutting weeks off shipping time. Danny Lehman/The Image Bank via Getty Images

    The Panama Canal is one of the most important waterways in the world, with about 7% of global trade passing through. It also relies heavily on rainfall. Without enough freshwater flowing in, the canal’s locks can’t raise and lower ships traveling between the Atlantic and Pacific oceans. Droughts mean fewer ships per day, and that can quickly affect Panama’s finances and economies around the world.

    But the same freshwater is also essential for Panama’s many other needs, including drinking water for about 2 million Panamanians, use by Indigenous people and farmers in the watershed, as well as hydropower.

    When the region experiences droughts, as it did in 2023-2024, the resulting water shortages can lead to increasing water conflicts.

    One of those conflicts involves a new dam the Panama Canal Authority plans to begin building in 2027. It would be designed to secure enough water to keep the canal, which contributes about 4.2% to the country’s gross domestic product,, operating into the future, but it would also submerge farming communities and displace over 2,000 people from their homes.

    The Panama Canal Authority plans to build a new dam and reservoir that would submerge the village of Limon and hundreds of homes in the region.
    AP Photo/Matias Delacroix

    This recent drought wasn’t an anomaly. As an academic who studies the effects of rising temperatures on water availability and sea level rise, I’m aware that as the climate warms, Panama will likely face more extremes, both long dry spells and also periods of too much rain. That will force more trade-offs between residential needs and the canal over water use.

    Complex engineering remade the landscape

    The Panama Canal was built over a century ago at the narrowest point of the country and in the heart of its population center. The route was historically used by the Spanish colonies and later for a rail line between the oceans.

    The idea of a canal connecting the Atlantic and Pacific oceans began as a French endeavor, led by architect Ferdinand D. Lesseps, designer of the Suez Canal in Egypt. After the French effort failed, the U.S. government signed a treaty with newly independent Panama in 1903 to take over the project.

    The U.S. acquired the rights to build and operate the Panama Canal in exchange for US$10 million and annual payments of $250,000. Later, the Torrijos-Carter Treaty in 1977 committed the U.S. to transfer the control of operations to Panama at the end of 1999.

    One week of shipping on the Panama Canal. Source: Maps.com using World Economic Forum data.

    The canal project was designed to take advantage of the region’s tropical climate and abundant average rainfall.

    It harnessed the water of the Chagres River basin to run three sets of locks – chambers that, filled with fresh water, act like elevators, lifting or lowering ships to compensate for the difference in water levels between the two oceans.

    To ensure enough water would be available for the locks, the canal’s designers changed the shapes of the region’s mountains and rivers to create a large watershed – over 1,325 square miles (3,435 square kilometers) – that drains toward the canal’s human-made lakes, Gatun and Alajuela.

    About 65% of the water that flows from the watershed today goes to operate the locks. The majority of that water is quickly lost to the oceans.

    Even the two newest locks, built in 2016, only reuse about 60% of water on each transit – 40% is flushed to avoid saltwater from the oceans intruding into the watershed.

    Threats to water security

    Panama’s wet tropical weather is predominantly influenced by its location near the equator, the trade winds and the oceans. Most of its rain falls during the wet season, from May to November. However, weather records show a drop in average precipitation starting around 1950.

    The driest years resulted in dangerously low water levels in Gatun Lake that made canal operations difficult, including in 1998, 2016 and most recently 2023-2024. El Niño weather patterns can mean particularly low rainfall.

    Water levels at Gatun Lake since 1965 show how low 2023 and 2024 were.
    EIA

    In December 2023, the Panama Canal Authority was forced to limit the number of daily transits to 22, compared with 36 to 38 usual crossings, because too little freshwater was available.

    To avoid steep financial losses, the Panama Canal Authority raised prices and auctioned transit opportunities to the highest bidders. Without those measures, the authority estimated it would lose $100 million a month from reduced ship traffic because of the water shortage.

    Ecosystems also need enough water, and changes in forest tree composition have become evident on Barro Colorado Island in Gatun Lake in response to rising temperatures and more frequent droughts.

    Climate change is also creating greater variability in rainfall. Too much rain can also be a problem for canal operations. In December 2010, the biggest storm on record caused landslides and $150 million in damage that interrupted transits on the canal.

    Sustaining Panama’s canal and its people

    Temporary measures for saving water have been already implemented. The Panama Canal Authority shortened the chamber size in some of its locks to use less water for smaller vessels and minimized direction changes.

    In January 2025, the authority approved plans to build the new dam on the Indio River to increase water available for the canal. The dam could solve some water concerns during drier periods for the canal.

    However, it also illustrates the country’s water conflicts. Once filled, the dam’s reservoir will submerge over 1,200 homes by some counts, and more people in the region will lose access to land and travel routes. The Panama Canal Authority promises that residents will be relocated, but some of those living in the region fear they will lose their livelihoods, along with the communities their families have lived in for generations.

    Panama Canal representatives explain to community members in El Jobo in 2024 how a planned dam on the Indio River would affect the future of their community.
    AP Photo/Matias Delacroix

    Residents across Panama, meanwhile, regularly hear media campaigns that encourage them to save water. An Environmental Economic Incentives Program promotes forest conservation and sustainable family agriculture to conserve water resources.

    The Panama Canal is a crucial part of international trade, and it will face more periods of water stress. I believe responding to those future changes, as well as market and societal demands, will require innovative solutions that respect ecosystem limits and the needs of the population.

    Karina Garcia 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. The Panama Canal’s other conflict: Water security for the population and the global economy – https://theconversation.com/the-panama-canals-other-conflict-water-security-for-the-population-and-the-global-economy-253100

    MIL OSI – Global Reports –

  • MIL-OSI: RYVYL Reports Q4 2024 and Full Year 2024 Financial Results and Provides a Business Update

    Source: GlobeNewswire (MIL-OSI)

    – Reiterates 2025 guidance of $80 million to $90 million in revenue and mid-40s percentage gross margin – 

    SAN DIEGO, CA, March 31, 2025 (GLOBE NEWSWIRE) — RYVYL Inc. (NASDAQ: RVYL) (“RYVYL” or the “Company”), a leading innovator of payment transaction solutions leveraging electronic payment technology for the diverse international markets, reported its financial results for the quarter and year ended December 31, 2024.

    RYVYL Co-founder and CEO Fredi Nisan issued the following business update for investors.

    “We made significant progress in 2024 as our U.S. operations stabilized over the past several quarters, while our International segment maintained a strong growth trajectory. International revenue for 2024 reached $37.8 million, representing a remarkable 124% increase compared to 2023. With momentum building in both the U.S. and international markets, we are actively onboarding new clients across multiple jurisdictions, further strengthening our market presence and positioning us for a high-growth year in 2025.

    Our global pipeline is robust, and we are rapidly gaining traction with our Payments-as-a-Service offering from RYVYL EU. We are strategically positioned to capitalize on substantial opportunities as we continue to expand our market reach.

    “We are building on our core competitive strengths and foundation, and I’m excited to offer a summary of our progress and reiterate our 2025 guidance of $80 million to $90 million in revenue and mid-40s percentage gross margin.

    Business Overview and Competitive Position

    Our competitive strengths, unique value proposition, and strategic focus are what truly set us apart in the fintech space. We’re especially optimistic about our position in the market, as the global shift toward credit cards, mobile wallets, and real-time payment platforms continues to accelerate. Our solutions are purpose-built for this evolution, leveraging our longstanding investment in proprietary payment and banking technologies to stay ahead of the curve.

    As fintech innovators are rapidly disrupting the landscape with agile, cost-effective models, RYVYL is strongly positioned to lead the way. We are nimble, innovative, and well-prepared to capitalize on this favorable environment, driving forward as a leader in the next era of digital payments.

    We are committed to continuously evolving our product portfolio to anticipate and meet the ever-changing needs of businesses worldwide. At the heart of this effort is the enhancement of our dual-sided payment platform, which seamlessly supports both acquiring and disbursement services. This platform is purpose-built to accommodate emerging use cases in acquiring, disbursements, and embedded finance, delivering comprehensive, end-to-end financial solutions that empower our clients to stay ahead in a dynamic market.

    Technological innovation is transforming how consumers engage with their finances as multiple payment rails converge to offer greater flexibility and choice. RYVYL is at the forefront of this evolution with our next-generation payment technology. By integrating various payment systems and methods into a single, cohesive digital platform, we empower consumers and businesses to access multiple options—such as bank transfers, mobile payments, digital wallets, and more—all in one place. This innovative approach allows users to select the payment method that best meets their needs at any given moment, positioning RYVYL as a pioneer in the rapidly evolving financial landscape.

    We target high-margin segments, focusing on merchants and retail clients who are often overlooked by traditional processors or left out of the existing financial ecosystem. Currently, we serve nearly 1,500 business customers across 50 industries, leveraging a diversified foundation to establish ourselves as a global innovator in payment and banking solutions. By offering advanced banking and payment technologies, we’re able to capture 40% gross margins in these high-potential areas. With new offerings like Payments-as-a-Service (PaaS) on the horizon and greater operational efficiencies through scale, we are well-positioned to continue driving margin expansion.

    Our value proposition is distinct and forward-thinking. We deliver comprehensive banking and processing solutions that emphasize transparency, speed, and tailored processing capabilities designed for specific industries. Our customized, turnkey solutions are powered by cutting-edge technologies, such as AI, that set us apart. We leverage these advanced capabilities and tools to streamline operations, reduce errors, and enhance scalability, while AI-driven insights optimize decision-making and efficiency, creating a transformative approach to financial services.

    Compliance and onboarding agility are fundamental to our business model—serving as key competitive advantages in this rapidly evolving landscape. As regulatory scrutiny and antitrust initiatives reshape the payment ecosystem, legacy networks are being challenged, creating new opportunities for innovative players. While real-time systems like FedNow are making strides, credit cards still dominate, and adoption remains gradual. Meanwhile, advancements in AI are transforming fraud prevention, transaction security, and seamless banking integration. RYVYL is strategically positioned to navigate and capitalize on these changes, leveraging our expertise to stay ahead in this dynamic environment.

    We’re driven by our momentum and confident in our path forward. Recent wins, increased pipeline visibility, and an expanding presence across verticals are propelling us to new heights. We’re diversifying revenue streams and building stronger client relationships, positioning ourselves to meet the complex and evolving needs of our customers. Market demand remains robust, and we’re well-prepared to capitalize on opportunities, further solidifying our position as a frontrunner in the sector.

    Q4 2024 and Recent Highlights

    During Q4 and recently, we:

    • Completed two European software integrations in October, with these two European partners launching on the new platforms.
    • Expanded our global reach by launching Visa Direct services in more geographies, increasing our footprint to a total of 16 countries.
    • Launched co-branded debit cards in the EU.
    • Went live with our next-generation Charge Savvy (POS).
    • Implemented NEMS Core payments in the U.S.

    Balance Sheet Restructuring

    We completed key steps in our strategy to improve our capital structure, greatly reducing potential dilution and positioning us for profitable growth supported by increased financial flexibility.

    In January 2025, we:

    • Executed a Preferred Stock Repurchase and Note Repayment Agreement and paid the initial tranche of $13.0 million to a securityholder that:
      • Redeemed of all shares of the Company’s Series B Convertible Preferred Stock for which the liquidation value was $53.1 million; and
      • Partially repaid an 8% Senior Convertible Note, reducing the outstanding principal from $18.3 million to $4.0 million, which is due on or before April 30, 2025.
    • Entered into an agreement with a financing source for $15.0 million to fund the Preferred Stock Repurchase and Note Repayment Agreement transaction that was structured as a pre-funded asset sale with a 90-day closing period, which ends on April 23, 2025 and may be extended an additional 30 days to May 23, 2025, if the Company pays $500,000 for such extension. Shares in the Company’s RYVYL EU subsidiary were placed in escrow during the closing period. Although there are no guarantees, the Company intends to terminate the asset sale within the closing period by paying $16.5 million in consideration of such termination.

    We are pursuing a range of funding alternatives to raise capital to terminate the asset sale and anticipate completing this step in our financial strategy to further deleverage the balance sheet in Q2 2025. The Company has recently filed an S-1 registration statement to raise up to $24 million, including the overallotment, and intends to explore all fundraising options, including term debt, equity or some combination to fund the termination payment of $16.5 million.

    Payments-as-a-Service (PaaS)

    In March 2025, RYVYL EU landed two new Payments-as-a-Service (PaaS) contracts, which are anticipated to bring in close to one million new customer accounts over the next year. These partnerships mark a major step forward in expanding our presence across Europe and boosting our long-term growth potential. These partnerships are a strong endorsement of our ability to support fast-growing financial platforms and assist with their international growth. Our advanced payment technology enables quick and compliant onboarding, paired with the scalability today’s digital banks demand.

    • The first contract is with a prominent global money service provider and includes the provision of both virtual and physical payment cards through RYVYL’s platform and mobile application. So far, 1,000 accounts have already been activated, and an additional 50,000 are expected to follow in 2025.
    • The second agreement, with one of the world’s largest fully digital banks, is expected to add 900,000 new customer accounts within 12 months, beginning in Q2 2025. API integrations and system testing are already underway, with the onboarding phase set to launch in the near future.

    “We are poised for a strong growth year in 2025, with multiple initiative underway to leverage our technology and well-established customer infrastructure and market reputation, and I look forward to updating you on our progress,” concluded Nisan.

    Financial Summary for the Fourth Quarter Ended December 31, 2024

    • Revenue: Fourth quarter 2024 revenue totaled $14.1 million, driven largely by $11.4 million from RYVYL EU. This compares to $22.2 million in revenue during the same period in 2023, of which $5.6 million was generated by RYVYL EU.
    • Processing Volume: In the fourth quarter of 2024, processing volume rose 38.7% to $1.3 billion, compared to $0.9 billion in the fourth quarter of 2023. International operations accounted for $1.1 billion of the fourth quarter volume, a significant increase from the $591 million volume in the fourth quarter of 2023, fueled by strong growth across multiple verticals, particularly through our Independent Sales Organizations (“ISO”) and partnership network, as well as expanded offerings in global payments processing and banking-as-a-service. In North America, processing volume totaled $176 million, down from $356 million in the fourth quarter of 2023.
    • Cost of Revenue: Cost of revenue was $8.7 million in the fourth quarter of 2024, down from $14.5 million in the fourth quarter of 2023. This decrease was primarily due to reduced processing activity in North America, partially offset by higher processing volumes in the International segment.
    • Gross Margin: Gross margin for the fourth quarter of 2024 was 38.2%, up from 35.0% in the fourth quarter of 2023, reflecting higher margin product mix.
    • Operating Expenses: Operating expenses for the fourth quarter of 2024 were $11.4 million, compared to $10.6 million in the fourth quarter of 2023. This increase was primarily driven by a $3.0 million impairment charge in the fourth quarter of 2024 against intangible assets held in North America, partially offset by lower other operating expenses compared to the fourth quarter 2023.
    • Other Expense, net: Other expense, net, decreased 97% to $0.9 million in the fourth quarter of 2024, down from $27.0 million in the fourth quarter of 2023. The net decrease was primarily driven by the multiple restructurings of the Company’s convertible note during the fourth of 2023, with no comparable activity during the fourth quarter of 2024.
    • Adjusted EBITDA: Adjusted EBITDA for the fourth quarter of 2024 was negative $1.7 million, compared to a positive $0.1 million in the fourth quarter of 2023.

    Financial Summary Full Year Ended December 31, 2024

    • Revenue: 2024 revenue was $56.0 million, driven largely by $37.8 million from RYVYL EU. This compares to $65.9 million during the same period in 2023, of which $16.9 million was generated by RYVYL EU.
    • Cost of Revenue: Cost of revenue was $33.6 million, down $6.6 million, from $40.2 million during 2023, primarily due to reduced processing activity in North America, partially offset by higher processing volumes in the International segment.
    • Gross Margin: Gross margin was 40.0%, up from 39.0% in 2023.
    • Operating Expenses: 2024 operating expenses were $43.3 million compared to $38.0 million in 2023, due primarily to impairment charges recorded during 2024 of $6.7 million and $3.0 million for goodwill and intangible assets held in North America, respectively, with no comparable charges in 2023, partially offset by lower research and development expenses and professional fees.
    • Other Expense, net: Other expense, net, decreased to $4.8 million in 2024, down from $40.5 million in 2023. This decrease was mainly driven by a $28.8 million net decrease in other expenses associated with the Company’s multiple restructurings of its convertible note during 2023 with no comparable restructurings during 2024.
    • Adjusted EBITDA: Adjusted EBITDA for 2024 was a loss of $5.7 million, compared to a loss of $3.9 million in 2023.
    • Cash Balances: Cash and restricted cash as of December 31, 2024, was $92.0 million, with $89.4 million being restricted cash.

    The foregoing guidance is based on the Company’s continuation of the business, as currently conducted. On January 24, 2025, the Company entered into an agreement with a financing source that was structured as a pre-funded asset sale with a 90-day closing period, which ends on April 23, 2025 and may be extended an additional 30 days to May 23, 2025, if the Company pays $500,000 for such extension. Shares in the Company’s RYVYL EU subsidiary were placed in escrow during the closing period. Although there are no guarantees, the Company intends to terminate the asset sale within the closing period by paying $16.5 million in consideration of such termination. The Company’s financial guidance for 2025 is based on fully retaining its RYVYL EU subsidiary.

    About RYVYL

    RYVYL Inc. (NASDAQ: RVYL) was born from a passion for empowering a new way to conduct business-to-business, consumer-to-business, and peer-to-peer payment transactions around the globe. By leveraging electronic payment technology for diverse international markets, RYVYL is a leading innovator of payment transaction solutions reinventing the future of financial transactions. Since its founding as GreenBox POS in 2017 in San Diego, RYVYL has developed applications enabling an end-to-end suite of turnkey financial products with enhanced security and data privacy, world-class identity theft protection, and rapid speed to settlement. As a result, the platform can log immense volumes of immutable transactional records at the speed of the internet for first-tier partners, merchants, and consumers around the globe. www.ryvyl.com

    Cautionary Note Regarding Forward-Looking Statements

    This press release includes information that constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the Company’s current beliefs, assumptions, and expectations regarding future events, which in turn are based on information currently available to the Company. Such forward-looking statements include statements regarding anticipated revenues and margins, timely payment of the second tranche, the benefit to stockholders from the repayment of the Note and repurchase of the Preferred Stock, and the timing and expectation of revenues from the license described herein and are charactered by future or conditional words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” “estimate” and “continue” or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information. By their nature, forward-looking statements address matters that are subject to risks and uncertainties. A variety of factors could cause actual events and results to differ materially from those expressed in or contemplated by the forward-looking statements, including the risk that the licensee understands and complies with various banking laws and regulations that may impact the licensee’s ability to process transactions. For example, federal money laundering statutes and Bank Secrecy Act regulations discourage financial institutions from working with operators of certain industries – particularly industries with heightened cash reporting obligations and restrictions – as a result of which, banks may refuse to process certain payments and/or require onerous reporting obligations by payment processors to avoid compliance risk. These statements are also subject to any damages the Company could suffer as the result of previously announced litigation or actions of any governmental agencies. These and other risk factors affecting the Company are discussed in detail in the Company’s periodic filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether because of the latest information, future events or otherwise, except to the extent required by applicable laws.

    IR Contact:
    David Barnard, Alliance Advisors Investor Relations, 415-433-3777, ryvylinvestor@allianceadvisors.com

    RYVYL INC.
    CONSOLIDATED BALANCE SHEETS
    (In thousands, except share and per share data)

        December 31,  
        2024     2023  
    ASSETS            
    Current Assets:            
    Cash   $ 2,599     $ 12,180  
    Restricted cash     89,432       61,138  
    Accounts receivable, net of allowance for credit losses of $206 and $23, respectively     1,076       859  
    Cash due from gateways, net of allowance of $89 and $2,636, respectively     88       12,834  
    Prepaid and other current assets     2,189       2,854  
    Total current assets     95,384       89,865  
                     
    Non-current Assets:                
    Property and equipment, net     165       306  
    Goodwill     18,856       26,753  
    Intangible assets, net     1,802       5,059  
    Operating lease right-of-use assets, net     3,425       4,279  
    Other assets     2,644       2,403  
    Total non-current assets     26,892       38,800  
    Total assets   $ 122,276     $ 128,665  
                     
    LIABILITIES AND STOCKHOLDERS’ EQUITY/(DEFICIT)                
                     
    Current Liabilities:                
    Accounts payable   $ 3,515     $ 1,819  
    Accrued liabilities     8,146       5,755  
    Payment processing liabilities, net     90,802       76,772  
    Current portion of operating lease liabilities     839       692  
    Other current liabilities     240       504  
    Total current liabilities     103,542       85,542  
    Long term debt, net of debt discount of $3,906 and $24,349, respectively     17,363       15,912  
    Operating lease liabilities, less current portion     2,863       3,720  
    Total liabilities     123,768       105,174  
                     
    Stockholders’ Equity/(Deficit):                
    Preferred stock, Series B, par value $0.01, 5,000,000 shares authorized; 53,499 and 55,000 shares issued and outstanding at December 31, 2024 and 2023, respectively     1       1  
    Common stock, par value $0.001, 100,000,000 shares authorized; 8,032,318 and 5,996,948 shares issued and outstanding at December 31, 2024 and 2023, respectively     8       6  
    Additional paid-in capital     179,157       175,664  
    Accumulated other comprehensive income     (1,251 )     401  
    Accumulated deficit     (179,407 )     (152,581 )
    Total stockholders’ (deficit)/equity     (1,492 )     23,491  
                     
    Total liabilities and stockholder’s (deficit)/equity   $ 122,276     $ 128,665  

    RYVYL INC.
    CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
    (In thousands, except share and par value data)

        Three Months Ended December 31,     Twelve Months Ended December 31,  
        2024     2023     2024     2023  
                                     
    Revenue   $ 14,127     $ 22,249     $ 55,998     $ 65,869  
    Cost of revenue     8,730       14,455       33,572       40,157  
    Gross profit     5,397       7,794       22,426       25,712  
                                     
    Operating expenses:                                
    Advertising and marketing     20       (73 )     95       80  
    Research and development     821       1,323       3,848       5,757  
    General and administrative     1,826       1,968       6,933       8,678  
    Payroll and payroll taxes     4,167       3,785       13,836       12,017  
    Professional fees     1,016       1,425       4,372       7,076  
    Stock compensation expense     83       1,544       624       1,853  
    Depreciation and amortization     438       654       2,264       2,553  
    Impairment of goodwill     –       –       6,675       –  
    Impairment of intangible assets     3,028       –       3,028       –  
    Restructuring charges     –       –       1,636       –  
    Total operating expenses     11,399       10,626       43,311       38,014  
                                     
    Loss from operations     (6,002 )     (2,832 )     (20,885 )     (12,302 )
                                     
    Other income (expense):                                
    Interest expense     (400 )     (30 )     (862 )     (3,340 )
    Accretion of debt discount     (280 )     (3,508 )     (2,258 )     (13,134 )
    Changes in fair value of derivative liability     –       (35 )     14       6,544  
    Derecognition expense on conversion of convertible debt     (531 )     (23,516 )     (600 )     (25,035 )
    Legal settlement expense     (467 )     –       (2,064 )     (4,142 )
    Gain on sale of property and equipment     –       1,069       –       1,069  
    Other income (expense)     754       (999 )     970       (2,472 )
    Total other expense, net     (924 )     (27,020 )     (4,800 )     (40,510 )
                                     
    Loss before provision for income taxes     (6,926 )     (29,852 )     (25,685 )     (52,812 )
    Income tax provision     (75 )     151       1,140       289  
    Net loss   $ (6,851 )   $ (30,003 )   $ (26,825 )   $ (53,101 )
                                     
    Comprehensive income statement:                                
    Net loss     (6,851 )     (30,003 )     (26,825 )     (53,101 )
    Foreign currency translation (loss) gain     (2,371 )     433       (1,652 )      44  
    Total comprehensive loss   $ (9,222 )   $ (29,570 )   $ (28,477 )   $ (53,057 )
                                     
    Net loss per share:                                
    Basic and diluted   $ (0.91 )   $ (5.43 )   $ (4.01 )   $ (10.11 )
    Weighted average number of common shares outstanding:                                
    Basic and diluted     7,543,480       5,525,608       6,694,165       5,251,852  

    RYVYL INC.
    CONSOLIDATED STATEMENT OF CASH FLOWS
    (In thousands)

        Year Ended December 31,  
        2024     2023  
    Cash flows from operating activities:            
    Net loss   $ (26,825 )   $ (53,101 )
    Adjustments to reconcile net loss to net cash used in operating activities:                
    Depreciation and amortization expense     2,264       2,553  
    Noncash lease expense     143       350  
    Stock compensation expense     624       1,853  
    Restricted common stock issued for compensation     182       –  
    Accretion of debt discount     2,258       13,134  
    Derecognition expense on conversion of convertible debt     600       25,035  
    Changes in fair value of derivative liability     (14 )     (6,544 )
    Gain on sale of property and equipment     –       (1,069 )
    Impairment of goodwill     6,675       –  
    Impairment of intangible assets     3,028       –  
    Restructuring charges     1,636       –  
    Changes in assets and liabilities:                
    Accounts receivable, net     (155 )     297  
    Prepaid and other current assets     664       6,568  
    Cash due from gateways, net     12,684       (5,407 )
    Other assets     (160 )     (1,183 )
    Accounts payable     1,695       189  
    Accrued and other current liabilities     1,497       2,080  
    Accrued interest     366       546  
    Payment processing liabilities, net     14,029       47,860  
    Net cash provided by operating activities     21,191       33,161  
                     
    Cash flows from investing activities:                
    Purchases of property and equipment     (47 )     (108 )
    Logicquest Technology acquisition     –       (225 )
    Proceeds from sale of property and equipment     –       2,620  
    Capitalized software development costs     (1,647 )     –  
    Purchase of intangibles     (114 )     –  
    Net cash (used in) provided by investing activities     (1,808 )     2,287  
                     
    Cash flows from financing activities:                
    Treasury stock purchases     –       7  
    Repayments of convertible debt     –       (3,000 )
    Repayments on long-term debt     (12 )     (15 )
    Tax withholdings related to net settlement of equity awards     (229 )     –  
    Net cash used in financing activities     (241 )     (3,008 )
                     
    Effect of exchange rates in cash and restricted cash     (430 )     44  
    Net increase (decrease) in cash and restricted cash     18,712       32,484  
                     
    Cash and restricted cash – beginning of period     73,318       40,834  
                     
    Cash and restricted cash – end of period   $ 92,030     $ 73,318  
                     
    Supplemental disclosures of cash flow information                
    Cash paid during the period for:                
    Interest   $ 300     $ 2,709  
    Income taxes   $ 848     $ 199  
                     
    Non-cash financing and investing activities:                
    Convertible debt conversion to preferred stock   $ 900     $ 64,600  
    Convertible debt conversion to common stock   $ –     $ 1,650  
    Interest accrual from convertible debt converted to preferred stock   $ –     $ 1,703  
    Interest accrual from convertible debt converted to common stock   $ –     $ 4  

    Use of Non-GAAP Financial Information

    Adjusted earnings before interest, taxes, depreciation, and amortization (“Adjusted EBITDA”) is a non-GAAP measure that represents our net loss before interest expense, amortization of debt discount, income tax expense, depreciation and amortization, changes in the fair value of derivative liabilities, losses on the extinguishment and derecognition expenses on the conversion of convertible debt, non-cash stock-based compensation expense, acquisition-related expense, non-recurring provisions for credit losses on legacy matters, accounting fees related to the restatement of prior period financial statements, non-recurring costs related to the spin-off of a subsidiary, and legal costs and settlement fees incurred in connection with non-ordinary course litigation and other disputes.

    We exclude these items in calculating Adjusted EBITDA because we believe that the exclusion of these items will provide for more meaningful information about our financial performance, and do not consider the excluded items to be part of our ongoing results of operations. Our use of Adjusted EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our financial results as reported under GAAP. Some of these limitations are: (a) although depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital expenditure requirements; (b) Adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital needs; (c) Adjusted EBITDA does not reflect the potentially dilutive impact of equity-based compensation; (d) Adjusted EBITDA does not reflect tax payments that may represent a reduction in cash available to us; and (e) other companies, including companies in our industry, may calculate Adjusted EBITDA or similarly titled measures differently, which reduces its usefulness as a comparative measure.

    Because of these and other limitations, you should consider Adjusted EBITDA alongside our other GAAP-based financial performance measures, net income (loss) and our other GAAP financial results. The following table presents a reconciliation of Adjusted EBITDA from net loss, the most directly comparable GAAP measure, for the periods indicated:

    Reconciliation of Net Loss attributable to RYVYL, Inc., to Adjusted EBITDA for the
    Three and Twelve Months Ended December 31, 2024 and 2023
    (In thousands, except share and per share data)

        Three Months Ended December 31,     Twelve Months Ended December 31,  
        2024     2023     2024     2023  
                                     
    Net loss   $ (6,851 )   $ (30,003 )   $ (26,825 )   $ (53,101 )
    Interest expense     400       30       862       3,340  
    Accretion of debt discount     280       3,508       2,259       13,134  
    Income tax provision     (75 )     151       1,140       289  
    Depreciation and amortization     438       654       2,264       2,553  
     EBITDA     (5,807 )     (25,660 )     (20,301 )     (33,785 )
                                     
    Other non-cash adjustments:                                
    Changes in fair value of derivative liability     –       35       (14 )     (6,544 )
    Derecognition expense on conversion of convertible debt     531       23,516       600       25,035  
    Stock compensation expense     83       1,544       624       1,853  
    Impairment of goodwill     –       –       6,675       –  
    Impairment of intangible assets     3,028       –       3,028       –  
    Restructuring charges     –       –       1,636       –  
                                     
    Special items:                                
    Non-recurring legal settlements and ongoing matters and related legal fees     467       –       2,064       5,308  
    Carryover effects of financial statement restatements in prior periods     –       691       –       1,913  
    Non-recurring provision for credit losses on legacy matters     –       –       –       1,994  
    Accounting fees related to the restatement of prior period financial statements     –       –       –       237  
    Non-recurring impairment of right of use asset     –       –       –       100  
    Non-recurring costs of spin-off     –       –       –       29  
    Adjusted EBITDA   $ (1,699 )   $ 126     $ (5,688 )   $ (3,860 )
                                     
    Loss from operations   $ (6,002 )   $ (2,832 )   $ (20,885 )   $ (12,302 )

    The MIL Network –

  • MIL-OSI Africa: African Rare Earth Projects Advance Amid Rising Global Demand

    Source: Africa Press Organisation – English (2) – Report:

    CAPE TOWN, South Africa, March 31, 2025/APO Group/ —

    The global demand for rare earth elements (apo-opa.co/3FI1pbZ) is projected to increase four-fold by 2030, driven by the energy transition and increasing investments in industrialization. African nations rich in rare earth minerals are accelerating exploration and production efforts to capitalize on this growth. With up to eight rare earth projects set for commissioning across the continent by 2029 – boosting Africa’s share of the global supply chain to 10% – the upcoming African Mining Week will spotlight opportunities across the rare earth value chain.

    Africa’s rare earth sector remains largely untapped, thereby attracting the interest of global project developers eager to unlock its full potential. South African asset manager Novare, for example, signed a R1.8 billion agreement (apo-opa.co/3E9EG8f) in February 2025 with American firm ReElement Technologies to develop a rare earth refining and battery manufacturing facility. ReElement will contribute its refining technology while Novare will provide funding for the value addition initiative, with construction expected to begin in the second half of 2025.

    In Namibia, the Japan Organization for Metals and Energy Security and Namibia Critical Metals (apo-opa.co/427nfNI) completed a production pilot for the Lofdal Project, one of only two xenotime-type heavy rare earth deposits currently under development worldwide. Meanwhile, in Angola, Pensana (apo-opa.co/43A3nW0) secured an $80 million loan from Absa Bank Limited in January 2025 to expedite the rollout of the Longonjo Project, which is expected to supply 5% of the world’s magnet metal rare earths demand – essential for the development of wind turbines and electric vehicles.

    Major investors are also making bold moves in Africa’s rare earth sector. Billionaires Jeff Bezos and Bill Gates (apo-opa.co/3FJsOdC) have injected $537 million into exploration and mine development through mining startup KoBold Metals, further accelerating Africa’s rare earth ambitions. The funding will be directed toward rare earth mining ventures. Additionally, recognizing the strategic value of rare earths, multinational financial institution the African Development Bank proposed the development of the African Units of Account (AUA) (apo-opa.co/3FOTDxe) – a new currency backed by Africa’s critical mineral reserves, including rare earth elements. The initiative would help stabilize regional currency markets and attract more international investment in green energy projects, amidst the growing demand of critical minerals globally and Africa’s vast reserves.

    The year 2025 continues to mark significant milestones in the growth of Africa’s rare earth sector, with the advancement of key projects (apo-opa.co/43uodGd) such as Phalaborwa and Steenkampskraal (South Africa), Makuutu (Angola), Ngualla (Tanzania) and Songwe (Malawi). Amid these developments, African Mining Week serves as a strategic platform for African regulators, industry stakeholders and global investors to engage in deal signings and forge partnerships, further solidifying Africa’s role in the global rare earth supply chain.

    MIL OSI Africa –

  • MIL-OSI: Enlight Announces the Financial Close for Project Country Acres

    Source: GlobeNewswire (MIL-OSI)

    The debt financing package includes $773 million of construction loans

    Country Acres consists of 403 MW of solar generation and 688 MWh of energy storage capacity, and is expected to reach full COD during the second half of 2026

    TEL AVIV, Israel, March 31, 2025 (GLOBE NEWSWIRE) — Enlight Renewable Energy Ltd. (“Enlight”, “the Company”, NASDAQ: ENLT, TASE: ENLT.TA), a leading global renewable energy platform, announced today that the Company has received debt financing (the “Debt Financing”) for project Country Acres (“Country Acres” or “the Project”), located near Sacramento, California, USA.

    As part of the Debt Financing, Enlight, through its subsidiary Clenera Holdings LLC, has secured construction financing commitments with a consortium of four leading global banks including BNP Paribas Securities Corp, Crédit Agricole, Natixis Corporate & Investment Banking, and Norddeutsche Landesbank Girozentrale (Nord/LB), totaling $773 million.Upon the Project’s COD, the construction loan is expected to convert into a $376 million term loan.

    The Project has a 30-year solar generation busbar PPAand 20-year energy storage busbar purchase agreement with the Sacramento Municipal Utility District (“SMUD”).The Company expects to conclude a tax equity transaction during the construction period, noting that the Project has met the terms required to achieve safe harbor status for beginning of construction.

    Country Acres consists of 403 MW solar generation and 688 MWh of energy storage capacity, and is expected to reach full COD during the second half of 2026. Construction at the 966-acre site has already begun, and all procurement contracts have been signed. The Project is expected to provide clean electricity equivalent to the average annual consumption of approximately 80,000 California households.

    “We are grateful to once again be partnering with leading banks on one of our largest projects,” said Adam Pishl, President and CEO of Clenera. “The American-generated, reliable energy produced at Country Acres will fueling the homes and businesses in central California for decades to come.”

    After the completion of Apex in Montana and Atrisco in New Mexico, Country Acres is one of several major solar and energy storage projects that Enlight and Clenera are now constructing in the U.S. These include Quail Ranch (128 MW and 400 MWh) and Roadrunner (290 MW and 940 MWh). Along with additional projects planned to be built in the years to come, these projects are driving Enlight’s massive expansion into the U.S. renewable energy market. This is best illustrated by the growing run rate of Enlight’s U.S. revenue base, which is expected to reach $195-207 million annually after the completion of the projects now under construction.

    The Company’s next projects in the western Unites States are Snowflake (600 MW and 1,900 MWh) and CO Bar (1,211 MW and 824 MWh). The two mega projects have almost completed their development phase, and are scheduled to begin construction in the coming months. Each of the two projects employs a grid connection of 1.0 GW, one of the largest in the US. These grid connections generate potential additional development opportunities in the future through the Company’s “Connect and Expand” strategy, which seeks to leverage existing interconnect infrastructure with additional generation capacity.

    “Country Acres is the second financial closing that we have accomplished with the same group of lenders in the past three months, illustrating the extent of our partnership and cooperation,” said Ilan Goren, GM of Enlight USA. “We look forward to further deepening this relationship as Enlight and Clenera continue the build out of our large US project portfolio.”

    “After the successful closing of Roadrunner, BNP Paribas is proud to once again support Clenera and Enlight as Coordinating Lead Arranger on their new landmark project financing of Country Acres,” said Aashish Mohan, Co-Head of Energy, Resources & Infrastructure Americas, at BNP Paribas. “Supporting premier platforms like Clenera squarely fits our energy infrastructure ambitions, and we look forward to growing our partnership with Clenera as they continue to execute on their high-quality U.S. renewables pipeline.”

    Nasir Khan, Managing Director & Head of Real Assets and Global Trade Americas at Natixis Corporate & Investment Bankng said, “Natixis is thrilled to close our second transaction with Clenera on another robust renewable energy project financing, which aligns perfectly with our commitment to the energy transition. As Clenera continues to expand its pipeline of large-scale energy projects, we look forward to further strengthening our partnership and providing innovative capital solutions to meet its long-term financial needs.”

    “CACIB is proud to partner with Clenera and Enlight once again on a landmark project which will deliver reliable, clean power to SMUD, underscoring our collective objective to provide long term sustainable and affordable power,” said Julien Tizorin – Head of Power and New Energy at CACIB

    Sondra Martinez, Managing Director and Head of Originations Nord/LB’s said “Nord/LB is extremely excited to support Clenera and Enlight on the Country Acres financing. This deal demonstrates our commitment to supporting recurring clients as they advance the energy transition and provide affordable power to local communities.” 

    About Enlight Renewable Energy

    Founded in 2008, Enlight develops, finances, constructs, owns, and operates utility-scale renewable energy projects. Enlight operates across the three largest renewable segments today: solar, win energy storage. A global platform, Enlight operates in the United States, Israel and 10 European countries. Enlight has been traded on the Tel Aviv Stock Exchange since 2010 (TASE: ENLT) and completed its U.S. IPO (Nasdaq: ENLT) in 2023. Learn more at www.enlightenergy.co.il.

    Investor Contact

    Yonah Weisz
    Director IR
    investors@enlightenergy.co.il 

    Erica Mannion or Mike Funari
    Sapphire Investor Relations, LLC
    +1 617 542 6180
    investors@enlightenergy.co.il 

    Cautionary Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding the Company’s expectations relating to the Project, the PPA and the related interconnection agreement and lease option, and the completion timeline for the Project, are forward-looking statements. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible,” “forecasts,” “aims” or the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to site suitable land for, and otherwise source, renewable energy projects and to successfully develop and convert them into Operational Projects; availability of, and access to, interconnection facilities and transmission systems; our ability to obtain and maintain governmental and other regulatory approvals and permits, including environmental approvals and permits; construction delays, operational delays and supply chain disruptions leading to increased cost of materials required for the construction of our projects, as well as cost overruns and delays related to disputes with contractors; our suppliers’ ability and willingness to perform both existing and future obligations; competition from traditional and renewable energy companies in developing renewable energy projects; potential slowed demand for renewable energy projects and our ability to enter into new offtake contracts on acceptable terms and prices as current offtake contracts expire; offtakers’ ability to terminate contracts or seek other remedies resulting from failure of our projects to meet development, operational or performance benchmarks; various technical and operational challenges leading to unplanned outages, reduced output, interconnection or termination issues; the dependence of our production and revenue on suitable meteorological and environmental conditions, and our ability to accurately predict such conditions; our ability to enforce warranties provided by our counterparties in the event that our projects do not perform as expected; government curtailment, energy price caps and other government actions that restrict or reduce the profitability of renewable energy production; electricity price volatility, unusual weather conditions (including the effects of climate change, could adversely affect wind and solar conditions), catastrophic weather-related or other damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to availability due to higher demand, shortages, transportation problems or other developments, environmental incidents, or electric transmission system constraints and the possibility that we may not have adequate insurance to cover losses as a result of such hazards; our dependence on certain operational projects for a substantial portion of our cash flows; our ability to continue to grow our portfolio of projects through successful acquisitions; changes and advances in technology that impair or eliminate the competitive advantage of our projects or upsets the expectations underlying investments in our technologies; our ability to effectively anticipate and manage cost inflation, interest rate risk, currency exchange fluctuations and other macroeconomic conditions that impact our business; our ability to retain and attract key personnel; our ability to manage legal and regulatory compliance and litigation risk across our global corporate structure; our ability to protect our business from, and manage the impact of, cyber-attacks, disruptions and security incidents, as well as acts of terrorism or war; changes to existing renewable energy industry policies and regulations that present technical, regulatory and economic barriers to renewable energy projects; the reduction, elimination or expiration of government incentives for, or regulations mandating the use of, renewable energy; our ability to effectively manage our supply chain and comply with applicable regulations with respect to international trade relations, tariffs, sanctions, export controls and anti-bribery and anti-corruption laws; our ability to effectively comply with Environmental Health and Safety and other laws and regulations and receive and maintain all necessary licenses, permits and authorizations; our performance of various obligations under the terms of our indebtedness (and the indebtedness of our subsidiaries that we guarantee) and our ability to continue to secure project financing on attractive terms for our projects; limitations on our management rights and operational flexibility due to our use of tax equity arrangements; potential claims and disagreements with partners, investors and other counterparties that could reduce our right to cash flows generated by our projects; our ability to comply with tax laws of various jurisdictions in which we currently operate as well as the tax laws in jurisdictions in which we intend to operate in the future; the unknown effect of the dual listing of our ordinary shares on the price of our ordinary shares; various risks related to our incorporation and location in Israel; the costs and requirements of being a public company, including the diversion of management’s attention with respect to such requirements; certain provisions in our Articles of Association and certain applicable regulations that may delay or prevent a change of control; and other risk factors set forth in the section titled “Risk factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (the “SEC”) and our other documents filed with or furnished to the SEC.

    These statements reflect management’s current expectations regarding future events and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as may be required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

    The MIL Network –

  • MIL-OSI: Maris-Tech Announces Full Year 2024 Financial Results and Reports Record 51% Revenue Growth for 2024 with Improved Profitability

    Source: GlobeNewswire (MIL-OSI)

    Revenues Increased by 51%, Gross Profit Increased by 82% and Net Loss Reduced by 54% for the Year Ended December 31, 2024

    Rehovot, Israel, March 31, 2025 (GLOBE NEWSWIRE) — Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) (“Maris-Tech” or the “Company”), a global leader in video and artificial intelligence (“AI”)- based edge computing technology, today announced its financial results for the full year ended December 31, 2024. The Company reported record revenues of approximately $6.1 million, an increase of 51% compared to approximately $4 million for the year ended December 31, 2023. Gross profit for the year ended December 31, 2024, grew by 82%, reaching approximately $3.5 million compared to approximately $1.9 million for the year ended December 31, 2023.

    Mr. Israel Bar, Chief Executive Officer of Maris-Tech, said, “In 2024, we focused on new developments, strategic partnerships and expanding our presence in key markets. We strengthened our position in the defense sector, particularly in the miniature drone and unmanned aerial vehicles industry, and in armored vehicles and tanks. Among our key achievements, we launched the Uranus Drones – a miniature codec tailored for the drone industry – and introduced the Diamond System, which is already deployed in the battlefield, providing comprehensive protection for thousands of vehicles. We also increased our investment in marketing and business development in the United States, which has contributed to our accelerated growth.”

    Financial Highlights

    ●    Revenues: Revenues for the year ended December 31, 2024, were approximately $6.1 million, an increase of 51% compared to approximately $4 million for the year ended December 31, 2023.

    ●    Gross Profit: Gross profit for the year ended December 31, 2024, was approximately $3.5 million, an increase of 82% compared to approximately $1.9 million for the year ended December 31, 2023.

    ●    Net Loss: Net loss for the year ended December 31, 2024, was approximately $1.2 million, a decrease of 54% compared to approximately $2.7 million for the year ended December 31, 2023.

    ●    Net Loss per Ordinary Share: Net loss per ordinary share for the year ended December 31, 2024, was approximately $0.16, a decrease of 53% compared to approximately $0.34 for the year ended December 31, 2023.

    ●    Cash, Cash Equivalents and Short-Term Bank Deposits: Cash and cash equivalents and short-term bank deposits as of December 31, 2024, were approximately $2.3 million, compared to approximately $5.2 million as of December 31, 2023.

    ●    Trade Receivables Balance: Increased to approximately $3.5 million as of December 31, 2024, compared to approximately $3.0 million as of December 31, 2023.

    We expect that our existing cash and cash equivalents as of December 31, 2024, along with anticipated revenue from existing customers pursuant to existing orders and the availability of a $4 million line of credit, will be sufficient to fund our operations and meet our obligations for the next twelve months.

    Year Ended 2024 Highlights

    We strengthened our position in the defense and homeland security (“HLS”) markets, and accelerated revenue growth:

    ●    In January 2024, we secured a new purchase order for approximately $590,000 for an AI-based HLS and Defense Surveillance Application based on the Jupiter AI platform;

    ●    In February 2024, we received a purchase order for approximately $190,000 for a miniature low-power solution to enhance gun sight capabilities in tactical applications;

    ●    In February 2024, we received a repeat purchase order for approximately $600,000 with an option to increase the purchase order to approximately $730,000 to provide armored and autonomous vehicles with enhanced situational awareness;

    ●    In April 2024, we secured a new purchase order for $415,800 for a defense solution based on our Jupiter Nano platform;

    ●    In April 2024, we received a new purchase order for approximately $110,000 for a novel miniature intelligence-gathering product based on the Maris platform technology;

    ●    In June 2024, we received a new purchase order for $225,000 from Aero Sol military drone manufacturer for our Uranus-Drones solution;

    ●    In June 2024, we secured a repeat purchase order for approximately $957,000 for our situational awareness solution for Armored Vehicles;

    ●    In August 2024, we secured a $700,000 purchase order for innovative AI-Based Video Distribution Solution; and

    ●    In December 2024, we secured a $1 million purchase order from a U.S. repeat customer in the HLS industry for our advanced Jupiter-based video solution.

    Strategic Partnerships

    ●    In March 2024, we entered into a collaboration agreement with Renesas Electronics Corporation, one of the world’s largest semiconductor manufacturers, and we were accepted into the Renesas’ Preferred Partner Program; and

    ●    In June 2024, we entered into a collaboration agreement with LightPath Technologies, Inc. (Nasdaq: LPTH) (“LightPath”) for AI-Ready Infrared Cameras, providing AI accelerated hardware, software and algorithms for LightPath’s infrared cameras.

    New Products & Developments

    ●    In February 2024, we launched Emerald, a Jupiter-based multiple-channel high-definition and standard-definition raw video recording platform especially designed for defense armored vehicles;

    ●    In July 2024, we unveiled Diamond – a revolutionary defense 360° 3D Situational Awareness Solution for armored fighting vehicles;

    ●    In September 2024, we announced that our Amethyst Edge Computing video solution now supports 5G, enabling ultra-speed and high data transfer;

    ●    In September 2024, we enhanced our Diamond platform ability to combat airborne threats with Diamond Ultra; and

    ●    In December 2024, we completed the development of Uranus-Drones technology, which is now available for large-scale delivery.

    Expanded Global Awareness

    Maris-Tech strengthened our presence in the U.S. with the engagement of new sales representatives and increased participation in international defense and technology exhibitions, showcasing the Company’s cutting-edge solutions to a global audience.

    Backlog and Outlook

    Our backlog as of January 1, 2025, was approximately $9.8 million, which represents an increase from our backlog as of January 1, 2024, of approximately $9.76 million. Our backlog, as of March 28, 2025, was approximately $9.9 million.

    We define backlog as the accumulation of all pending orders with a later fulfillment date for which revenue has not been recognized, and we consider valid. The backlog consists of executed purchase orders from new customers and existing customers with which we have had long standing relationships and from governmental agencies.

    Mr. Bar concluded, “We remain committed to driving long-term growth by focusing on strategic innovation, expanding our market presence, and strengthening our relationships with global defense and homeland security customers. We believe that our pipeline of opportunities and strong order backlog position us well for continued growth in 2025 and beyond.”

    About Maris-Tech Ltd.

    Maris-Tech is a global leader in video and AI-based edge computing technology, pioneering intelligent video transmission solutions that conquer complex encoding-decoding challenges. Our miniature, lightweight, and low-power products deliver high-performance capabilities, including raw data processing, seamless transfer, advanced image processing, and AI-driven analytics. Founded by Israeli technology sector veterans, Maris-Tech serves leading manufacturers worldwide in defense, aerospace, Intelligence gathering, homeland security (HLS), and communication industries. We’re pushing the boundaries of video transmission and edge computing, driving innovation in mission-critical applications across commercial and defense sectors.

    For more information, visit https://www.maris-tech.com/

    Forward-Looking Statement Disclaimer

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect”,” “may”, “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, the Company is using forward-looking statements when it is discussing: its growth in 2025 and beyond; expanding its market presence; strengthening its relationships with global defense and homeland security customers; future pipeline and opportunities; its backlog and the anticipated fulfillment of that backlog; the demand for its defense and AI-powered solutions; expanding its  presence in key markets; and its position in the defense sector, particularly in the miniature drone and unmanned aerial vehicles industry, and in armored vehicles and tanks. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company’s control. The Company’s actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause the Company’s actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the Company’s ability to successfully market its products and services, including in the United States; the acceptance of its products and services by customers; its continued ability to pay operating costs and ability to meet demand for its products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; its ability to successfully develop new products and services; its success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; its ability to comply with applicable regulations; and the other risks and uncertainties described in the Company’s Annual Report on Form 20-F for the year ended December 31, 2024, filed with the SEC on March 28, 2025, and its other filings with the SEC. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Investor Relations:

    Nir Bussy, CFO
    Tel: +972-72-2424022
    Nir@maris-tech.com

    The MIL Network –

  • MIL-OSI Banking: Digitalization for Improving Elder Care

    Source: Asia Development Bank

    The authors explore both the opportunities and challenges of the digital transformation for elder care. Through case studies from diverse contexts, the book highlights the importance of involving older people as active participants in the digital economy. It sets out practical considerations for policymakers and practitioners to help advance efficient, dignified, and high-quality elder care in the digital age.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Samsung Solves: Tips To Recover From The Clocks Going Forward

    Source: Samsung

    Do you find yourself feeling more tired once the clocks spring forward for British Summer Time? Well, you’re not alone. Although losing an hour the night of Daylight Saving Time (DST) may seem insignificant, a study of the sleep patterns of Samsung Health users[1] across the world including 40 European countries reveals disruptions to sleep patterns can be felt weeks later, hitting younger age groups the hardest.
     
     
    Clock Changes Takes a Toll on Sleep, With Younger Generations Most Disrupted
     
    When looking into how much of an impact the clock change has on people the morning after, one thing is clear: everyone’s sleep patterns are affected. In fact, people fall asleep on average 37 minutes later than the previous night, and wake up 34 minutes earlier. While losing sleep isn’t easy at any age, those in their twenties likely felt it the most, losing half-an-hour more than everyone else thanks to an extremely late bedtime and a seeming inability to sleep in.
     

     
    Sleep patterns remained inconsistent in the days following the time change as people struggled to return to their regular bedtimes and wake times, and those in their twenties again seemed to be affected the most. Unable to get their sleep patterns under control, this cohort continued to fall sleep more than 20 minutes later than normal, yet woke up only 5 minutes later – missing critical rest. By the third week, sleep patterns for all age groups were still not back to normal, with bedtimes 3 minutes later and wake up times still 14 minutes earlier than average.
     

     
    Sleep Score – calculated based on an evaluation of a user’s total sleep time, time awake, sleep cycle, plus physical and mental recovery – was at the worst level for weeks after – and again, people in their twenties appeared to be most affected. When looking at the seven-day Sleep Score average, the twenties age group demonstrated the slowest score recovery rate, while older age groups adapted much quicker.
     
     
    Useful Tips to Help You Recover for a Good Night’s Sleep
     
    The time transition clearly affects the sleep patterns of all age groups long after the clocks change, but for younger generations, prioritising sleep management during this time couldn’t be more important. Sleep is essential for rest and repair of our body, as well as good physical and mental health[2].
     
    In recognition of the clock changes, Sleep scientist and Samsung Wellness Council member, Vanessa Hill, shares useful tips in collaboration with Samsung Health on how to harness technology to understand your sleep patterns and habits for a better night’s rest as the clocks change.
     
     

     
    Creating an ideal sleep environment is critical to a good night’s sleep.
    Later this month, a Samsung Health app update[3] will make this possible by receiving insights into the key factors that influence sleep quality, including temperature, humidity, air quality and light intensity via a Sleep environment report[4] – leveraging Samsung’s home-based technology and the power of its extensive device ecosystem. With a better understanding of how your environment affects sleep, you can easily optimise your room conditions for an improved night’s rest.
     
     
    In addition to perfecting your sleep environment, understanding how activity levels can impact sleep quality is key.
    Samsung Health updates also bring enhancements to Energy Score, which provides an indicator of how much energy users can expend throughout the day. In addition to sleep and heart rate, a new detailed factor about activity – Activity Balance – will help you understand overall conditions in greater detail by evaluating the consistency of activity levels based on recent data from the past 2 weeks.
     
     
    It can be helpful to understand how you’re sleeping and then make necessary adjustments through sleep coaching.
    Sleep Coaching[5] makes this simple by seamlessly tracking your sleep patterns over 7 days and assigning a sleep animal based on the results. With a personally tailored coaching program, develop healthy habits and routines that set you on a positive path to achieving your sleep goals.
     
     

     
     
    [1] Findings analysed sleep data of Samsung Health users via Galaxy Watch series and Galaxy Ring during DST in the spring of 2024.
    [2] https://www.nhs.uk/every-mind-matters/mental-health-issues/sleep/
    [3] Not intended for use in the detection, diagnosis, treatment, monitoring or management of any medical condition. Certain features may vary by market, carrier or paired device.
    [4] Sleep Environment report feature will be available on smartphone with One UI 7 and Samsung Health app version 6.29.5 or later.
    [5] Requires sleep data of at least 7 days, including 2 days off.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Samsung Announces Partnership with Warner Bros. Pictures and Legendary Pictures’ “A Minecraft Movie”

    Source: Samsung

    LONDON, UK – 28th March 2025 – Today, Samsung Electronics Co, Ltd. announces its partnership with Warner Bros. Pictures’ “A Minecraft Movie”, the first-ever big screen, live-action adaptation of Minecraft, the best-selling video game of all time. Driven by a shared belief in the power of self-expression, the partnership seeks to inspire a new wave of creativity among consumers.
     
    “A Minecraft Movie” celebrates creativity, curiosity and limitless possibilities – values that are at the heart of Samsung’s innovation. Just as the film brings imagination to life, Samsung technology powers exploration and curiosity, enabling users to unleash their creativity and embrace their potential.
     
    With an ecosystem of interconnected products that seamlessly work together, Samsung technology continues to push the boundaries of innovation to equip users with the tools to unlock their unique creative expression.
     
    Transform sketches into polished digital masterpieces with Galaxy AI on the Galaxy S25 Ultra, or immerse in breathtaking visuals with the Neo QLED 8K TV‘s unparalleled clarity and vibrant colours. You can even discover your inner chef with new flavours and personalised recommendations from the Family Hub SpaceMax Smart Fridge Freezer.
     
    Whatever your next adventure, Samsung technology serves as a portal to a world of creative possibilities that empower users to embrace, curate and share their unique visions.
     
    Benjamin Braun, CMO Samsung Europe says: “Anchored in personalisation and providing tools that push the boundaries of what’s possible for creative expression, our latest partnership with ‘A Minecraft Movie’ is the perfect extension of Samsung’s long-established relationship with Warner Bros. Pictures. Our product ecosystem and AI technology empowers users to embrace their creative potential.”
     
    Dana Nussbaum, Executive Vice President, Warner Bros. Pictures Worldwide Marketing says: “We’re delighted to partner with Samsung on ‘A Minecraft Movie’. This collaboration is all about breaking new ground – harnessing the innovation at the core of the film to inspire creativity and spark imagination worldwide. Together, we’re empowering global audiences with the tools to push the boundaries of their creativity and share their stories in exciting, new ways.”
     

     

     
    With anticipation building ahead of the release, the official “A Minecraft Movie” movie trailer will be available exclusively on Samsung TVs in European retail stores for shoppers to view in breath taking 8k. Samsung is also launching a ‘Portal to a World of Deals’ in collaboration with “A Minecraft Movie” across 25 countries, featuring specials offers & bundles to celebrate this incredible partnership.
     
    To further bring this partnership to life, Samsung will be hosting a group of content creators at the “A Minecraft Movie” premiere on the 30th March. The exclusive event will showcase first-hand how Samsung technology, powered by Galaxy AI, serves as a gateway for self-expression and discovery, empowering consumers to explore their creative identities.
     
    Check out the “A Minecraft Movie” trailer here.
     
    Additional information about Samsung’s products can be found at samsung.com/uk/.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Secretary-General of ASEAN joins ASEAN Foreign Ministers in a Special Emergency Meeting in the aftermath of the earthquake in Myanmar

    Source: ASEAN – Association of SouthEast Asian Nations

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today joined ASEAN Foreign Ministers and the Foreign Minister of Timor-Leste in a Special Emergency Meeting to discuss ASEAN’s humanitarian assistance to Myanmar in the wake of the devastating earthquake that struck central Myanmar, on 28 March 2025. At the Meeting, held via videoconference, ASEAN reaffirmed its support of relief and recovery efforts, based on priorities identified by Myanmar, with the assistance of the ASEAN Coordinating Centre for Humanitarian Assistance on disaster management (AHA Centre).

    The post Secretary-General of ASEAN joins ASEAN Foreign Ministers in a Special Emergency Meeting in the aftermath of the earthquake in Myanmar appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI Banking: ASEAN Foreign Ministers’ Statement on the Outcome of the Special Emergency Meeting of ASEAN Foreign Ministers in the Aftermath of the Earthquake in Myanmar and Thailand

    Source: ASEAN – Association of SouthEast Asian Nations

    1. A Special Emergency Meeting of the ASEAN Foreign Ministers was held on 30 March 2025 via videoconference following the 7.7 magnitude earthquake that struck central Myanmar on 28 March 2025, affecting the peoples of Myanmar and Thailand.

    2. The ASEAN Foreign Ministers extended their deepest sympathies and condolences to the peoples of Myanmar and Thailand who were affected by the earthquake, resulting in significant loss of life, injuries, and widespread destruction, particularly in Mandalay, Nay Pyi Taw, Sagaing, Bangkok, Chiang Mai and surrounding areas.

    To read full statement please click here.
    The post ASEAN Foreign Ministers’ Statement on the Outcome of the Special Emergency Meeting of ASEAN Foreign Ministers in the Aftermath of the Earthquake in Myanmar and Thailand appeared first on ASEAN Main Portal.

    MIL OSI Global Banks –

  • MIL-OSI Banking: BOC Aviation orders 70 A320neo Family aircraft

    Source: Airbus

    Headline: BOC Aviation orders 70 A320neo Family aircraft

    BOC Aviation, one of the world’s leading aircraft lessors, has placed a firm order with Airbus for an additional 70 A320neo Family aircraft. With this order, BOC Aviation’s backlog of aircraft to be delivered becomes the largest in its history with Airbus.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Panasonic Energy and Sumitomo Metal Mining to Collaborate in Recycling of Nickel for Lithium-Ion Batteries, Advancing Closed-Loop Circular Economy Initiatives

    Source: Panasonic

    Headline: Panasonic Energy and Sumitomo Metal Mining to Collaborate in Recycling of Nickel for Lithium-Ion Batteries, Advancing Closed-Loop Circular Economy Initiatives

    Panasonic Energy Co., Ltd. has issued a press release entitled “Panasonic Energy and Sumitomo Metal Mining to Collaborate in Recycling of Nickel for Lithium-Ion Batteries, Advancing Closed-Loop Circular Economy Initiatives” You can read the press release with the following PDF link.

    MIL OSI Global Banks –

  • MIL-OSI Banking: Osaka/Kansai Expo: Construction of Panasonic Group Pavilion “The Land of NOMO” Completed, Allowing Adults and Children to “Unlock” with the Latest Technology

    Source: Panasonic

    Headline: Osaka/Kansai Expo: Construction of Panasonic Group Pavilion “The Land of NOMO” Completed, Allowing Adults and Children to “Unlock” with the Latest Technology

    The April 13 opening of the 2025 Japan International Expo (Expo 2025 Osaka, Kansai, Japan, “Expo 2025”) is rapidly approaching. In mid-February, a completion ceremony for Panasonic Group’s hands-on “The Land of Nomo” pavilion was held at the venue for Expo 2025 on Yumeshima in Konohana-ku, Osaka. Based on the concept of “Set your heart and mind free, and the world will open up,” the pavilion has various features to stimulate the senses of children—leaders of the next generation—and “Unlock” their imaginations. In the following we introduce more details about the completed pavilion, including features of each area, together with comments from architect Yuko Nagayama, who designed the building, and Michiko Ogawa, Director in charge of Kansai External Relations and EXPO Promotion at Panasonic Holdings Co.

    Construction Completed on The Land of NOMO and Its “Unlock” Experience

    The Panasonic Group’s The Land of NOMO pavilion was designed as a place where children, especially those from the Alpha generation, could experience the concept of “circulation,” which is the idea that everything is connected—matter, minds, sustainability, and well-being.
    The keyword “recycling” is both a theme connecting exhibition content and also a feature of the pavilion’s design. The pavilion’s resource-recycling architecture, which actively utilizes recycled iron and copper recovered from end-of-Life appliances and waste materials from factories, achieves total carbon neutrality from procurement through dismantling. Commenting on the design, Nagayama said that it extends beyond reuse and usability to also express “Joy and Beauty.” 

    The recently completed “The Land of NOMO” consists of the 922 m2 “Unlock Experience Area” and the 165 m2 “Earth” exhibition area1. The Land of NOMO’s tagline is “Unlock your nature.”
    1 Total floor area of The Land of NOMO is 1,731.64 m2, and the site area occupies 3,508.08 m2

    The façade is covered with a membrane made of layered organdie2 and a special metal. The effect is of soft fabric fluttering in the sea breeze. Said Nagayama: “It’s a structure that changes its appearance and reveals different shapes depending on how you look at it.”
    2 A thin, light, and transparent fabric

    The façade was completed at the end of January 2025, and consists of 730 organdie membranes installed on 1,404 frames. The façade is formed by these stacked curved frames, which represent “circulation.” As many as 20 units are stacked together in some parts of the façade.

    Outside the pavilion is displayed a prototype of a “glass-type perovskite solar cell” designed by artist Kaede Wajima, in collaboration with HERALBONY Co., Ltd., a company involved in a number of projects to decorate the city with art created by artists with disabilities.

    During Expo 2025, The Land of NOMO pavilion will be lit up at night using electricity generated from hydrogen derived from zero-carbon electricity. A lighting ceremony was held on March 1 at the pavilion, which will be lit up with lights and mist to create a fantastic effect on the façade.

    [embedded content]

    A Glimpse of the Panasonic Group Pavilion “The Land of NOMO”

    Unlock Experience Area—What to Expect in Each ZONE

    The Land of NOMO is made up of the Unlock Experience Area and the “Earth” exhibition area. The Unlock Experience Area provides an experience that allows children to become aware of the sensitivities that lie dormant within themselves, freeing them from preconceived notions and unleashing their hidden powers.
    The Unlock Experience Area has four zones and is an immersive space that stimulates the five senses by making full use of the Panasonic Group’s “spatial production” technologies related to light, video, sound, and air. In addition, using facial expression and behavior analysis techniques based on research into “Human Insight,” the possibilities and stories of each individual are depicted using a “butterfly” motif that reflects the person’s individuality and characteristics.

    ZONE 1: Deep within the Mirror Pond—Wandering through the Land of Nomo

    ZONE 1 uses technology based on “Space Tune ”—a 23.4-channel 3D sound system composed of high-quality Technics speakers and high-brightness projectors—to adjust the optimal sound quality according to the room’s setup. 
    Participants who wander into the zone have their senses sharpened cross-modally through three-dimensional sound, visuals, and vibrations, allowing them to fully perceive the world of “wind, water, light, and life”—elements they usually take for granted—beginning their Unlock experience.

    ZONE 2: NOMO Forest—Exploring the Unknown World

    ZONE 2 is a beautiful forest full of life and energy. The key to this experience is a crystal device embedded with a radio frequency identification (RFID) tag.

    The person experiencing the installation holds the crystal in their hand and explores the unknown world as their heart (sensitivity) guides them. When the crystal is held up to exhibits representing rocks and trees, they respond with sound and light. 
    Six cameras are installed in this area, and the movements of the person experiencing the installation are analyzed based on information from the wireless tags and cameras.

    ZONE 3: The Valley of Ancient Trees—Releasing Butterflies from Crystals

    ZONE 3 has 17 ancient trees, each containing transparent OLED displays and four cameras for facial expression analysis. When participants peer into the ancient trees, their expressions are analyzed, and the behavioral data from ZONE 2 is analyzed using a “sensibility model.” This results in a display of visuals reflecting the individuality and characteristics of each person. Next, a “butterfly” is released from a crystal and guides them through the “Waterfall = Mist Wall.”

    Waterfall—Taking a Courageous Step Forward

    Here they encounter a Mist Wall3 7 meters wide and 3.5 meters high. A screen of mist in the shape of a waterfall is created using Silky Fine Mist, an extremely fine mist produced by dual-fluid nozzles. Images of butterflies and other objects are projected onto the mist using a high-brightness projectors. Summoning up their courage, they step into the space beyond.
    3 A screen of images made from extremely fine mist with a particle diameter of 6μm, created using technology that suppresses diffusion and delivers air currents over long distances.

    ZONE 4: Into the Wide Open Sky—Butterflies Flap Their Wings and Harmonize

    ZONE 4 is a dynamic immersive theater where images are projected in a 360° space by 21 high-brightness projectors, and sound and visuals interact three-dimensionally. When people hold their crystal devices to the designated spots and use a “leaf-like fan device” to make wind, “butterflies” are born on the floor and produce various sounds as they flap their wings into the great sky. The separate sounds eventually harmonize, creating music, while vortex rings (mist rings) with a diameter of 1.3 meters4 are projected from five points on the ceiling, creating an immersive space.
    4 A ring of mist created using a technology that traps and propels the mist in a vortex of air

    Holding their crystal in this space projects the person’s personal “butterfly” onto the floor. Fanning the butterfly with a fan releases it into the sky.

    After the experience, when participants return the crystal device to the designated location, each person receives an Unlock Card that reflects their experience results. By accessing the QR code printed on the card, they can look back on their experience in The Land of NOMO.

    Earth Area—Experience the Society of the Future Where People and Nature Circulate Together

    The Earth Area is a place where people can think together about a better future within an exhibition space where the cycles of human activity and natural activity interact with each other. Children visiting The Land of NOMO will have the opportunity to experience a future in which people and nature expand each other’s potential through an intuitive experience of touch and smell.
    The exhibition space introduces the following five technologies that will help make the future a reality:
    The Future of Food with the Power of Photosynthetic Microorganisms: Cyanobacteria (Photosynthetic Microorganisms)
    The Future of Energy with “Power-Generating Glass”: Perovskite Solar Cells
    The Future of Manufacturing Returning to Nature: Biodegradable Cellulose Fiber
    The Future of Lighting with the Power of Luminous Microorganisms: Bio-Light (Luminous Microorganisms)
    The Future of Human and Nature’s Cyclical Activities: Bio-Sensory Dome

    The Future of Food with the Power of Photosynthetic Microorganisms: Cyanobacteria (Photosynthetic Microorganisms)

    The Future of Energy with “Power-Generating Glass”: Perovskite Solar Cells

    The Future of Manufacturing Returning to Nature: Biodegradable Cellulose Fiber

    The Future of Lighting with the Power of Luminous Microorganisms: Bio-Light (Luminous Microorganisms)

    The Future of Human and Nature’s Cyclical Activities: Bio-Sensory Dome

    Hoping People Will Genuinely Enjoy a World Carefully Constructed by Adults

    Ogawa and Nagayama shared their thoughts following the completion ceremony.
    “This project, which began in October 2021, has finally reached the completion ceremony, and I feel like we’ve come a long way,” said Ogawa. “This pavilion was made possible by the support of nearly 200 engineers from the Panasonic Group who worked on it alongside their usual jobs, and I think that the objects and technologies that adults have created with such care will resonate with children in some way. I hope that they experience a sense of excitement, and that each person carries this feeling with them for a long time. I would be pleased if many people, both children and adults, have the opportunity to let go and enjoy the Unlock experience.”
    “Children, so to speak, are ‘formless beings’ who are constantly changing. You could say that they’re still in the process of discovering what shape they will be,” said Nagayama. “It would be wonderful if these children could first see the facade of The Land of NOMO and be fascinated by the constantly changing colors and movements. I hope that they will see themselves in the ever-changing pavilion and be exhilarated.”

    The Panasonic Group is promoting a variety of initiatives to realize “an ideal society offering material and spiritual affluence” and a better life for people everywhere. As a company founded in Osaka, Panasonic will convey the technological capabilities and appeal of Japanese companies to visitors from around the world during Expo 2025.

    Related Videos

    [embedded content]

    Recap: The Journey to Completion of “The Land of NOMO”

    Related Articles

    MIL OSI Global Banks –

  • MIL-OSI Banking: Panasonic HD Announces Personnel Changes

    Source: Panasonic

    Headline: Panasonic HD Announces Personnel Changes

    The content in this website is accurate at the time of publication but may be subject to change without notice.Please note therefore that these documents may not always contain the most up-to-date information.Please note that German, French and Chinese versions are machine translations, so the quality and accuracy may vary.

    MIL OSI Global Banks –

  • MIL-OSI Global: Nigerians having babies abroad: women explain their reasons

    Source: The Conversation – Africa – By Aduragbemi Banke-Thomas, Associate professor, London School of Hygiene & Tropical Medicine

    Nigerian women make up a significant proportion of foreign women giving birth in several countries.

    A study done in Calgary in Canada found 24.5% of foreign women identified as having travelled abroad to give birth were from Nigeria.

    Research in Chicago in the US found the majority (88%) of those seeking obstetric care in a hospital were Nigerian citizens.

    In the UK, the phenomenon is labelled by some as the “Lagos Shuttle”, highlighting the high number of Nigerian women said to be so-called “birth tourists”.

    It is estimated that over 23% of pregnant Nigerian women would like to travel abroad to give birth.

    Why is this? As medical and legal scholars we asked women who had travelled overseas for the birth of their babies to share their experiences.

    Existing research has not done enough to capture their voices, which matter in framing service delivery and immigration policies.

    We reported findings from this first-of-its-kind study in PLOS Global Public Health.

    As there is no registry of foreign pregnant women who gave birth abroad, it is a challenge to find them. For our study, we used social media platforms to recruit 27 Nigerian women who had given birth to at least one child abroad and conducted in-depth interviews with them to understand their motivations and experiences.

    Why women do it

    Of all recruited, 23 gave birth to at least one child in the US, and four gave birth to at least one child in the UK. One woman each gave birth in Canada, Ireland and Zambia.

    All the women in the study had at least a university degree.

    We found that reasons for seeking childbirth abroad varied.

    Some women were motivated by both perceived and experienced gains of foreign citizenship, which they believed might give their children a good education, a better living environment, and easier access to jobs and loans.

    However, it was not all about citizenship. Another motivation was to benefit from “better healthcare”, especially for those who had either had bad experiences during previous births in Nigeria or were concerned because they were carrying what they called a “precious baby”, for example after years of infertility.

    Many women in the study also sought childbirth abroad because it is where they had loved ones to support them through pregnancy, childbirth and having a newborn – a motivation not previously reported.

    Indeed, the number of Nigerians living in the US has increased over time and as of 2023, over 760,000 Americans identify as being of Nigerian origin. Essentially, more than one in 10 African immigrants in the US are Nigerians.

    Some Nigerian women planned to give birth abroad long before they even got pregnant. Others were encouraged to do so by family, friends or colleagues.

    Some decided to seek childbirth abroad after their income increased.

    Mostly positive

    Childbirth abroad is mostly a positive experience, but some women reported feeling treated badly because they were “self-paying” patients, “black”, or not native to the country.

    While travel for many was mostly uneventful, some experienced life-threatening situations en route to their destination or upon arrival.

    They found the cost of care to be exorbitant, but many reported that they were able to pay it off in instalments, or negotiated rebates or discounts from hospitals. A separate study showed that four in five foreign pregnant women who gave birth in a Canadian hospital, including some from Nigeria, had no outstanding bill after discharge.

    In our study, those who struggled to pay said they incurred unexpected costs due to complications that resulted in caesarean sections or other surgical procedures.

    Support during childbirth abroad was considered crucial and included loved ones from Nigeria who would travel with the pregnant woman to their destination.

    Push and pull syndrome

    With an ongoing exodus of Nigerians out of the country due to push and pull factors, known locally as jàpa, it is more likely that there will be more Nigerian pregnant women who have their support system abroad.

    Countries like Nigeria should do more to improve the quality of care obtainable in their health systems.

    Clearly motivations vary, and it is not always about birthright citizenship. While most women have mostly positive experiences, some have negative experiences that require attention and safeguards. For example, care guidelines in host countries specifically assuring good quality care for all pregnant women, including women who have crossed the border to seek childbirth.

    The return of US president Donald Trump makes the need to install these safeguards particularly urgent. In his first term he ordered the United States Department of State to discontinue the approval of visas for pregnant women.

    In his second term he has focused on abolishing birthright citizenship altogether.

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

    – ref. Nigerians having babies abroad: women explain their reasons – https://theconversation.com/nigerians-having-babies-abroad-women-explain-their-reasons-251067

    MIL OSI – Global Reports –

  • MIL-OSI USA: Disaster Recovery Center Opening in Woodford County

    Source: US Federal Emergency Management Agency

    Headline: Disaster Recovery Center Opening in Woodford County

    Disaster Recovery Center Opening in Woodford County

    FRANKFORT, Ky

    –A Disaster Recovery Center is opening March 29 in Woodford County to offer in-person support to Kentucky survivors who experienced loss as the result of Feb

    14 – March 7 severe storms, straight-line winds, flooding, landslides and mudslides

     The new Disaster Recovery Center in Woodford County is located at: Woodford County Senior Citizens Center, 185 Beasley Road

    , Versailles, KY 40383 Working hours are 7 a

    m

    to 7 p

    m

    Eastern Time, Monday through Saturday and 1 p

    m

    to 7 p

    m

    Sundays

    FEMA representatives can explain available assistance programs, how to apply to FEMA, and help connect survivors with resources for their recovery needs

    Representatives from the Kentucky Office of Unemployment Insurance, the Kentucky Department of Insurance and the U

    S

    Small Business Administration (SBA) will also be available at the recovery centers to assist survivors

    Additional Disaster Recovery Centers are scheduled to open in other Kentucky counties

    Click here to find centers that are already open in Kentucky

    You can visit any open center to meet with representatives of FEMA, the commonwealth of Kentucky and the U

    S

    Small Business Administration

    No appointment is needed

     To find all other center locations, including those in other states, go to fema

    gov/drc or text “DRC” and a Zip Code to 43362

     FEMA is encouraging Kentuckians affected by the February storms to apply for federal disaster assistance as soon as possible

    The deadline to apply for FEMA assistance is April 25

    Kentucky homeowners and renters in Breathitt, Clay, Estill, Floyd, Harlan, Johnson, Knott, Lee, Leslie, Letcher, Martin, Owsley, Perry, Pike, Simpson and Woodford counties can apply for federal assistance

    If you are unable to visit the center, there are other ways to apply: online at DisasterAssistance

    gov, use the FEMA App for mobile devices or call 800-621-3362

    If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA the number for that service

    When you apply, you will need to provide:A current phone number where you can be contacted

    Your address at the time of the disaster and the address where you are now staying

    Your Social Security Number

    A general list of damage and losses

    Banking information if you choose direct deposit

    If insured, the policy number or the agent and/or the company name

    For an accessible video on how to apply for FEMA assistance, go to youtube

    com/watch?v=WZGpWI2RCNw

    For more information about Kentucky flooding recovery, visit www

    fema

    gov/disaster/4860

    Follow the FEMA Region 4 X account at x

    com/femaregion4

    martyce

    allenjr
    Sat, 03/29/2025 – 13:14

    MIL OSI USA News –

  • MIL-OSI: KBC Group: Notification for shareholders of KBC Group

    Source: GlobeNewswire (MIL-OSI)

    Regulated information – 31 March 2025, 8h00

    Please be informed that following documents will be available today on www.kbc.com:

    Note: the 2024 annual report of KBC Bank, a 100% subsidiary of KBC Group, is also available
    (https://www.kbc.com/en/investor-relations/information-on-kbc-bank/annual-and-interim-reports.html)

    Attachment

    The MIL Network –

  • MIL-OSI: Share repurchase programme: Transactions of week 13 2025

    Source: GlobeNewswire (MIL-OSI)

    The share repurchase programme runs as from 26 February 2025 and up to and including 30 January 2026 at the latest. In this period, Jyske Bank will acquire shares with a value of up to DKK 2.25 billion, cf. Corporate Announcement No. 3/2025 of 26 February 2025. The share repurchase programme is initiated and structured in compliance with the EU Commission Regulation No. 596/2014 of 16 April 2014, the so-called “Market Abuse Regulation”, and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (together with the Market Abuse Regulation, the “Safe Harbour Rules”).

    The following transactions have been made under the program:

      Number of
    shares    		 Average purchase
    price (DKK)    		 Transaction
    value (DKK)
    Accumulated, previous announcement 71,716 581.53 41,705,310
    24 March 2025 3,909 587.82 2,297,802
    25 March 2025 3,871 595.04 2,303,389
    26 March 2025 49,692 572.47 28,446,961
    27 March 2025 46,217 569.76 26,332,422
    28 March 2025 45,592 559.11 25,490,975
    Accumulated under the programme 220,997 572.75 126,576,859

    Following settlement of the transactions stated above, Jyske Bank will own a total of 2,986,115 of treasury shares, excluding investments made on behalf of customers and shares held for trading purposes, corresponding to 4.65% of the share capital.

    Attached to this corporate announcement, aggregated details on the transactions related to the share repurchase programme are shown by venue.
                                                             
    Yours faithfully,
    Jyske Bank

    Contact: Birger Krøgh Nielsen, CFO, tel. +45 89 89 64 44.

    Attachment

    The MIL Network –

  • MIL-OSI: anske Bank share buy-back programme: transactions in week 13

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 15 2025

    Danske Bank

    Bernstorffsgade 40

    DK-1577 København V

    Tel. + 45 33 44 00 00

    31/03/2025

    Page 1 of 1

    Danske Bank share buy-back programme: transactions in week 13

    On 7 February 2025, Danske Bank A/S announced a share buy-back programme for a total of DKK 5 billion, with a maximum of 45,000,000 shares, in the period from 10 February 2025 to 30 January 2026, at the latest, as described in company announcement no. 6 2025.

    The Programme is carried out in accordance with Article 5 of Regulation (EU) No 596/2014 of the European Parliament and Council of 16 April 2014 (the “Market Abuse Regulation”) and the Commission Delegated Regulation (EU) 2016/1052 of 8 March 2016 (together with the Market Abuse Regulation, the “Safe Harbour Rules”).

    The following transactions on Nasdaq Copenhagen A/S were made under the share buy-back programme in week 13:
      Number of shares VWAP DKK Gross value DKK
    Accumulated, last announcement 332,100 233.2386 77,458,546
    24/03/2025 148,299 232.3580 34,458,459
    25/03/2025 207,000 237.6324 49,189,907
    26/03/2025 195,756 240.2799 47,036,232
    27/03/2025 207,000 238.6646 49,403,572
    28/03/2025 216,178 232.7320 50,311,538
    Total accumulated over week 13 974,233 236.4934 230,399,708
    Total accumulated during the share buyback programme 1,306,333 235.6660 307,858,254

    With the transactions stated above, the total accumulated number of own shares under the share buy-back programme corresponds to 0.152% of Danske Bank A/S’ share capital.

    Danske Bank

    Contact: Claus Ingar Jensen, Head of Group Investor Relations, tel. +45 25 42 43 70

    Attachment

    The MIL Network –