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Category: Business

  • MIL-OSI Economics: RBI imposes monetary penalty on The Jalna People’s Cooperative Bank Ltd., Jalna, Maharashtra

    Source: Reserve Bank of India

    The Reserve Bank of India (RBl) has, by an order dated March 25, 2025, imposed a monetary penalty of ₹0.75 lakh (Rupees Seventy Five Thousand only) on The Jalna People’s Cooperative Bank Ltd., Jalna, Maharashtra (the bank) for non-compliance with the RBI Directions on ‘Gold Loan – Bullet Repayment – Primary (Urban) Co-operative Banks (UCBs)’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

    The statutory inspection of the bank was conducted by the RBI with reference to its financial position as on March 31, 2024. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice, oral submissions made during the personal hearing, RBI found, inter alia, that the following charge against the bank was sustained, warranting imposition of monetary penalty:

    The bank had sanctioned gold loans under bullet repayment scheme beyond the prescribed regulatory limit.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy)  
    Chief General Manager

    Press Release: 2024-2025/2479

    MIL OSI Economics –

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    For his part, Dutton understands the odds against him.

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

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

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

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

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

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

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

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Banking: CBB Treasury Bills Over Subscribed

    Source: Central Bank of Bahrain

    Published on 27 March 2025

    Manama, Bahrain –27th March 2025 – This week’s BD 70 million issue of Government Treasury Bills has been oversubscribed by 124%

    The bills, carrying a maturity of 91 days, are issued by the CBB, on behalf of the Government of the Kingdom of Bahrain.

    The issue date of the bills is 2nd April 2025, and the maturity date is 2nd July 2025.

    The weighted average rate of interest is 5.27% equivalent to the previous issue on 26th March 2025.

    The approximate average price for the issue was 98.686% with the lowest accepted price being 98.584%.

    This is issue No.2063 (ISIN BH000353H560) of Government Treasury Bills. With this, the total outstanding value of Government Treasury Bills is BD 2.110 billion

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    MIL OSI Global Banks –

  • MIL-OSI United Nations: Hunger looms again in Gaza as WFP food stocks begin to run out

    Source: World Food Programme

    GAZA, Palestine – Hundreds of thousands of people in Gaza are again at risk of severe hunger and malnutrition as humanitarian food stocks in the Strip dwindle and borders remain closed to aid. Meanwhile, the expansion of military activity in Gaza is severely disrupting food assistance operations and putting the lives of aid workers at risk every day.

    Here are the latest updates on food security and WFP operations in Gaza.

    • WFP and partners from the food security sector have been unable to bring new food supplies into Gaza for more than three weeks. The closure of border crossings is blocking the entry of any commodities — humanitarian or commercial.
    • WFP has approximately 5,700 tons of food stocks left in Gaza – enough to support WFP operations for a maximum of two weeks.
    • With the deteriorating security situation, rapid displacement of people, and growing needs, WFP has decided to distribute as much food as possible, as quickly as possible in Gaza.
    • WFP operations currently support bakeries to produce bread, kitchens cooking hot meals, and the distribution of food parcels directly to families – each facing record low stocks inside Gaza:
       
      • Food parcels: WFP is reducing food parcel rations to reach as many people as possible. WFP plans to distribute food parcels to half a million people; the reduced size parcel will feed a family for roughly one week. 
      • Bakeries: Wheat flour supplies are sufficient to support bread production for 800,000 people for five days only. Currently 19 of 25 WFP-supported bakeries remain operational, and many struggle with severe crowd control issues as fear of bread shortages spreads throughout the Strip. Functioning bakeries are ramping up production, working 20 percent over capacity to respond to increased needs caused by renewed displacement of people.
      • Hot meals: WFP has supplies to support 37 kitchens across Gaza cooking 500,000 hot meals per day for the next two weeks. Two WFP-supported hot meal kitchens are currently inactive due to evacuation orders and general insecurity. 
      • Fortified biscuits: WFP has emergency stocks of fortified biscuits – enough for 415,000 people – which can be used as a last resort if all other food stocks are exhausted.   
    • WFP and partners from the food security sector have positioned more than 85,000 tons of food commodities outside Gaza, ready to be brought in if border crossings are opened.
    • WFP needs 30,000 tons of food per month to meet the basic needs of around 1.1 million people.
    • Food prices have soared inside Gaza. The price of a 25kg bag of wheat flour sells for up to US$50, a 400 percent increase compared to pre-March 18 prices; cooking gas prices have increased by 300 percent compared to February. 
    • Security incidents affecting UN staff are escalating, and movement is severely restricted, resulting in significant disruptions to food assistance operations.
    • WFP urges all parties to prioritize the needs of civilians, the protection of humanitarian workers and UN personnel, and access for aid to enter Gaza immediately. 
    • WFP requires US$265 million in funding over the next six months to support life-saving operations that will assist 1.5 million people in Gaza and the West Bank.

    #                 #                   #

    The United Nations World Food Programme is the world’s largest humanitarian organization saving lives in emergencies and using food assistance to build a pathway to peace, stability and prosperity for people recovering from conflict, disasters and the impact of climate change.

    Follow us on X, formerly Twitter, via @wfp_media 

    MIL OSI United Nations News –

  • MIL-OSI USA: Ohio Unifi Ramp Workers Vote to Join IAM Union, Seeking Fair Pay and Better Working Conditions

    Source: US GOIAM Union

    In a resounding victory, over 50 ramp workers at Unifi Aviation in Cleveland have voted overwhelmingly to join the IAM, following nearly a year of dedicated organizing efforts to address low wages and poor treatment by management. 

    Ramp workers at Unifi have faced many challenges, including excessive workloads, lack of support, and broken promises from management regarding improvements in their working conditions. Despite the physically demanding nature of their roles, these workers have consistently demonstrated their dedication and hard work without receiving the respect or compensation they deserve.

    “The organizing campaign was built on strong worker solidarity and open conversations,” said IAM Local 1363 Directing Business Representative Tim Verlinden. “We created a space for daily discussions and strategic planning within the internal committee, allowing us to navigate the many challenges we faced during this process. By staying united and committed, these workers were able to push forward and make their voices heard.”

    The ramp agents play a crucial role in airport operations. They are responsible for loading and unloading aircraft, handling baggage, directing planes to gates, and ensuring safety procedures are followed. 

    “This vote is a clear indication that workers are no longer willing to accept less than what they deserve,”  said IAM Eastern Territory General Vice President David Sullivan. “By joining the IAM, they’re choosing to fight for a brighter future, better treatment, and fair compensation.” 

    Recently, approximately 60 Unifi Aviation ground handling workers based in San Jose, Calif., also voted to join the IAM.

    “This vote marks a significant victory for the ramp workers at Unifi Aviation, and we are proud to welcome them into the IAM,” said IAM Air Transport General Vice President Richie Johnsen. “As their new union siblings, we stand united in this fight, and together we will ensure their voices are heard loud and clear until they obtain their first union contract.”

    Unifi Aviation operates in approximately 180 airports across the United States performing ground handling and other services for airlines.

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    MIL OSI USA News –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

    Recent Highlights

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Conference Call Details

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

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

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

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

    Engage with BIO-key

    Investor Contacts

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

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

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

    The MIL Network –

  • MIL-OSI: Infinidat and Veeam Team Up on Next-Generation Data Protection for Kubernetes-based Workloads

    Source: GlobeNewswire (MIL-OSI)

    WALTHAM, Mass., March 27, 2025 (GLOBE NEWSWIRE) — Infinidat, a leading provider of enterprise storage solutions, today announced that Veeam, a leader in Kubernetes data resilience, can now leverage Infinidat’s InfiniBox® high-performance, cyber resilient storage solution to ensure data protection of Kubernetes-based workloads. The two companies are collaborating to support the enterprise market-wide adoption of Red Hat OpenShift Virtualization as an alternative to traditional virtualization platforms. This collaboration enables organizations to modernize data infrastructures by bringing new and existing virtual machine (VM) workloads and virtualized applications to Kubernetes and container deployments.

    Infinidat and Veeam have teamed up to offer a new joint solution that takes advantage of Veeam Kasten v7.5, the latest version of the industry’s leading Kubernetes resilience, recovery and mobility platform, combined with the massive scalability, robustness and enhanced cyber resilience capabilities of the newest-generation of InfiniBox storage systems to improve the next generation of data protection for large-scale enterprise environments up to billions of files. This joint solution offers enterprise customers and service providers a simple and comprehensive way to protect Kubernetes data.

    “The combination of Veeam Kasten v7.5 and Infinidat’s InfiniBox storage solutions is a perfect match for protecting critical workloads that are running in a Kubernetes environment,” said Gaurav Rishi, VP, Kasten Product and Partnerships at Veeam. “Kubernetes has become a vital part of enterprise infrastructure, especially in large enterprises and service providers, from its infancy as a DevOps application development and deployment environment to now being a production platform for delivering enterprise-class business applications. It is essential for our mutual customers that Veeam and Infinidat provide a highly cyber resilient, highly scalable, and highly performant next-generation data protection solution.”

    The joint solution provides a more seamless persistent storage layer with rapid backup and recovery for mission-critical stateful workloads, including support for Red Hat OpenShift Virtualization. It leverages the expanded immutability support in Veeam Kasten v7.5 to enhance security of data by being able to trigger InfiniSafe® immutable snapshots, enabled by Infinidat’s Container Storage Interface (CSI) driver. In addition, multi-protocol flexibility supports persistent volumes via block and file protocols, optimizing the unparalleled ease of use of both the InfiniBox and Veeam Kasten v7.5.

    “Infinidat’s comprehensive support for Veeam Kasten v7.5 enables large-scale Kubernetes production deployments that are reliable, robust, and cyber secure,” said Erik Kaulberg, VP of Strategy and Alliances at Infinidat. “Delivering best-in-class real-world application and workload performance, 100% availability, and cyber storage resilience, InfiniBox systems can scale to hundreds of thousands of persistent volumes. Partners like Veeam and Red Hat help fuel our containers innovation pipeline, providing a steady stream of enhancements that help our joint customers simplify all aspects of their container storage environments at enterprise scale.”

    Infinidat has seen increased momentum with its CSI driver for petabyte-scale Kubernetes deployments of Red Hat OpenShift in hybrid multi-cloud environments, ideally suited for high-performance enterprise primary storage, data protection, and backup needs. Infinidat supports virtualized and containerized applications with an integrated set of trusted tools that maximize the advantages of virtualization options on a unified platform.

    “As the virtualization landscape continues to evolve, many organizations are looking for a future proof virtualization solution. Red Hat OpenShift provides a complete application platform for both modern virtualization and containers, and through our collaboration with Infinidat and Veeam, users can leverage enhanced capabilities to scale and protect their VM and Kubernetes workloads,” said Mike Barrett, Vice President and General Manager, Hybrid Platforms at Red Hat.

    Infinidat’s storage solutions are part of the Veeam Ready for Kubernetes program. In addition, the InfiniBox solution was successfully tested last year to work with Red Hat OpenShift Virtualization.

    To read Infinidat’s blog about its relationship with Veeam, click here. For more information about Infinidat’s certification for Red Hat OpenShift Virtualization, click here.

    About Infinidat
    Infinidat provides enterprises and service providers with a platform-native primary and secondary storage architecture that delivers comprehensive data services based on InfiniVerse®. This unique platform delivers outstanding IT operating benefits, support for modern workloads across on-premises and hybrid multi-cloud environments. Infinidat’s cyber resilient-by-design infrastructure, consumption-based performance, 100% availability, and cyber security guaranteed SLAs align with enterprise IT and business priorities. Infinidat’s award-winning platform-native data services and acclaimed white glove service are continuously recommended by customers. For more information, visit www.infinidat.com.

    Connect with Infinidat
    About Infinidat
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    Media Contact
    Infinidat
    Sapna Capoor
    Director of Global Communications
    scapoor@infinidat.com I Mobile: +44 (0) 7789684159

    The MIL Network –

  • MIL-OSI: Liquidia Announces Poster Presentations at the American Thoracic Society (ATS) 2025 International Conference

    Source: GlobeNewswire (MIL-OSI)

    – Data from the ASCENT study of LIQ861 (YUTREPIA™) in PH-ILD patients highlights safety, tolerability, exploratory changes in six-minute walk distance, cardiac effort and quality of life

    – Case study highlights the long-term safety and tolerability of LIQ861 (YUTREPIA) in a PAH patient transitioning from parenteral treprostinil in INSPIRE study

    MORRISVILLE, N.C., March 27, 2025 (GLOBE NEWSWIRE) — Liquidia Corporation (NASDAQ: LQDA), a biopharmaceutical company developing innovative therapies for patients with rare cardiopulmonary disease, today announced the company will present three posters at the American Thoracic Society (ATS) 2025 International Conference, taking place May 18-21, 2025, in San Francisco. Two posters will highlight new data from the company’s open-label ASCENT study of LIQ861 (YUTREPIA) in PH-ILD patients with a focus on safety, tolerability, exploratory changes in 6-minute walk distance, quality of life, and changes in cardiac effort. A third poster is a case study of a patient with PAH participating in the open-label extension study (INSPIRE).

    Poster Discussion Session: Poster Board #1404
    Date and time: Tuesday, May 20, 2025 from 11:30 a.m. – 1:15 p.m. PT
    Presenting Author: Rajan Saggar, MD
    Abstract: An ASCENT to Week 8: Initial Safety and Exploratory Efficacy Data on LIQ861 Dry Powder Inhaled Treprostinil in PH-ILD Patients

    Poster Discussion Session: Poster Board #1401
    Date and time: Tuesday, May 20, 2025 from 11:30 a.m. – 1:15 p.m. PT
    Presenting Author: Daniel Lachant, MD
    Abstract: Changes in Cardiac Effort in Pulmonary Hypertension-Interstitial Lung Disease: Insights From the ASCENT Trial

    Poster Discussion Session: Poster Board #1464
    Date and time: Tuesday, May 20, 2025 from 11:30 a.m. – 1:15 p.m. PT
    Presenting Author: Rodolfo Estrada, MD
    Abstract: Transitioning From Parenteral Treprostinil to LIQ861 in a Patient With PAH

    Following the presentations, each poster will be available on the Publications page of Liquidia’s website at https://liquidia.com/publications.

    About YUTREPIA™ (treprostinil) Inhalation Powder 
    YUTREPIA is an investigational, inhaled dry-powder formulation of treprostinil delivered through a convenient, low-effort, palm-sized device. In August 2024, the FDA issued tentative approval of YUTREPIA for the PAH and PH-ILD indications. YUTREPIA was designed using Liquidia’s PRINT® technology, which enables the development of drug particles that are precise and uniform in size, shape and composition, and that are engineered for enhanced deposition in the lung following oral inhalation. Liquidia has completed INSPIRE, or Investigation of the Safety and Pharmacology of Dry Powder Inhalation of Treprostinil, an open-label, multi-center phase 3 clinical study of YUTREPIA in patients diagnosed with PAH who are naïve to inhaled treprostinil or who are transitioning from Tyvaso® (nebulized treprostinil). YUTREPIA is currently being studied in the ASCENT trial, an Open-Label Prospective Multicenter Study to Evaluate Safety and Tolerability of Dry Powder Inhaled Treprostinil in Pulmonary Hypertension, with the objective of informing YUTREPIA’s dosing and tolerability profile in patients with PH-ILD. YUTREPIA was previously referred to as LIQ861 in investigational studies.

    About Liquidia Corporation
    Liquidia Corporation is a biopharmaceutical company developing innovative therapies for patients with rare cardiopulmonary disease. The company’s current focus spans the development and commercialization of products in pulmonary hypertension and other applications of its proprietary PRINT® Technology. PRINT enabled the creation of Liquidia’s lead candidate, YUTREPIA™ (treprostinil) inhalation powder, an investigational drug for the treatment of pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD). The company is also developing L606, an investigational sustained-release formulation of treprostinil administered twice-daily with a next-generation nebulizer, and currently markets generic Treprostinil Injection for the treatment of PAH. To learn more about Liquidia, please visit www.liquidia.com.

    Contact Information

    Investors:
    Jason Adair
    Chief Business Officer
    919.328.4350
    jason.adair@liquidia.com

    Media:
    Patrick Wallace
    Director, Corporate Communications
    919.328.4383
    patrick.wallace@liquidia.com

    The MIL Network –

  • MIL-OSI: TransUnion Study Finds U.S. Data Breach Severity Reaches New High

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, March 27, 2025 (GLOBE NEWSWIRE) — Despite the volume of U.S. data breaches declining in 2024 from highs reached a year prior, data breach severity reached levels never seen since TransUnion’s measurement began in 2020. These findings were revealed as part of the newly-released TransUnion® (NYSE: TRU)  H1 2025 Update to the State of Omnichannel Fraud Report.

    In 2024, the number of primary data breaches dipped to 2,577 from 2,842 the year prior, while third-party data breaches fell precipitously to 515 from 2,731 in 2023. However, the severity of those data breaches increased by 34% from one year earlier, with the primary US Breach Risk Score (BRS)1 rising from 4.1 to 5.6 and third party rising from 4.2 to 5.2. Breach Risk Score is measured on a 1–10 scale, where 1 represents the least severe and 10 most.

    A primary data breach represents a direct attack on an organization. A third-party data breach, also known as a supply-chain attack, value-chain attack, or backdoor breach, is when an attacker accesses an entity’s network via third-party vendors or suppliers — payroll processing or medical billing, for instance.

    The study found that the 2024 U.S. data breaches targeted more high-quality credentials, and consumers reported being targeted by data harvesting scams in every channel, including email, text, phone and online. Exposed identity data enables cybercriminals to power automated, identity-based attacks on organizations and individuals more readily.

    “The reversal of the multi-year U.S. data breach growth is certainly a step in the right direction. However, the significant jump in data breach severity is a cause for concern,” said Steve Yin, global head of fraud at TransUnion. “Breach severity is a leading indicator of future fraud. This year’s growth in severity means organizations must be even more diligent moving forward and work even harder to defend against the oncoming identity fraud attacks such as those in account creations, social engineering scams, and account takeovers.”

    _______________
    1 The BRS is based on the quantity and severity of the particular identity credentials the affected entity determined to have been exposed.

    While U.S. Data Breach Volume Ticked Down in 2024, Data Breach Severity Reached Record Levels
     
      2020 2021 2022 2023 2024
    Volume
    Primary data Breaches 1,248 1,841 1,834 2,842 2,577
    Third-party data breaches 689 567 1,757 2,731 515
    Average Breach Risk Score
    Primary data Breaches 3.9 4.0 4.0 4.1 5.6
    Third-party data breaches 2.8 3.1 3.4 4.2 5.2
    Source: TransUnion TruEmpower™
     

    These data breaches played a key role in significant financial losses faced by consumers due to fraud. Among consumers TransUnion surveyed in 18 countries and regions in November and December 2024, 29% said they lost money due to online, email, phone or text message fraud in the last year. The newly-released TransUnion (NYSE: TRU) H1 2025 Update to the State of Omnichannel Fraud Report found that the median amount those consumers said they lost due to fraud in the past year was $1,747.

    Communities and Video Gaming Among Top Industries Targeted by Suspected Digital Fraud Globally
    Communities, which include venues such as online dating and forums, had the highest rate of suspected digital fraud2 attempts globally in 2024. Nearly 12% of all attempted communities transactions were suspected to be digital fraud last year. This is closely followed by video gaming (11%), with gaming (including online betting, poker, etc.) at 8% and retail (8%) rounding out the top four.

    The logistics industry, which has seen growth in shipping fraud (often perpetrated by organized crime rings), saw the greatest suspected digital fraud volume growth globally in 2024, up more than 100% over 2023. That being said, the fraud rate remains at a relatively modest 3%. Gaming also saw a significant year-over-year (YoY) volume change, up 20%. Telecommunications (-79%), insurance (-29%) and video gaming (-23%) saw the greatest decreases in suspected digital fraud volume YoY.

    “Digital fraud on community platforms is by no means a new phenomenon. However, in 2024, it appears that fraudsters targeted these areas with a renewed vigor,” said Richard Tsai, senior director of global fraud solutions at TransUnion. “Cybercriminals, taking advantage of the trust inherent on community-based platforms, targeted members with a wide range of scammer solicitations, the most reported type of digital fraud in communities.”

    For transactions where the consumer or fraudster was located in the U.S., gaming continues to see the highest suspected digital fraud rate. About 14% of attempted transactions were suspected to be digital fraud, roughly the same as 2023. This marks the fifth consecutive year since TransUnion began research on this metric five years ago, where 13% or more of attempted gaming transactions in the U.S. were suspected to be digital fraud.

    _______________
    2 The rate or percentage of suspected digital fraud attempts reflects those which TransUnion customers determined met one of the following conditions: 1) denial in real time due to fraudulent indicators, 2) denial in real time for corporate policy violations, 3) fraudulent upon customer investigation, or 4) a corporate policy violation upon customer investigation — compared to all transactions assessed. The country and regional analyses examined transactions in which the consumer or suspected fraudster was located in a select country or region when conducting a transaction. Global statistics represents every country worldwide and not just the select countries and regions.

    Communities Saw the Highest Suspected Digital Fraud Rates in 2024 Globally, While Logistics Saw the Greatest Volume Increase
         
    Industry Suspected digital fraud attempt rate 2024 Change in volume of suspected digital fraud attempts from 2023 to 2024
    Communities (online dating, forums, etc.) 11.6% +9%
    Video gaming 10.8% -23%
    Gaming (online sports betting, poker, etc.) 7.8% +20%
    Retail 7.6% -45%
    Financial services 4.9% +3%
    Telecommunications 3.0% -79%
    Logistics 2.6% +101%
    Insurance 2.0% -29%
    Government 1.7% +6%
    Travel & leisure 0.9% -38%
    Source: TransUnion TruValidate™
         

    As part of the same aforementioned consumer survey, 11% of U.S. respondents indicated that they were targeted by online, email, phone call or text messaging fraud from August to December 2024 and fell victim to it. Four in 10 respondents (41%) indicated that they were aware of being targeted, but did not fall victim. Among those able to identify being targeted, the most commonly reported fraud scheme in the U.S. was smishing. Smishing is a type of phishing that uses text messages to mislead people into giving away personal information. The term combines “SMS” and “phishing”.

    “While cybercriminals will attack at any time using any channel, they appear to focus on channels most popular in the regions they are targeting,” said Yin. “Text messaging remains incredibly popular in the U.S. and, among many demographic groups, is a far more ubiquitous way to communicate with mobile devices than phone calls. As such, it would stand to reason that smishing would be such a common fraud tactic among fraudsters targeting this region.”

    In contrast, nearly half of respondents (48%) indicated that they were not targeted by these types of fraud at all. This raises questions as to whether these respondents were in fact targeted, yet simply unaware.

    India and South Africa Saw the Greatest Percentage of Respondents Falling Victim to Digital Fraud in H2 2024
             
    Country Targeted and fell victim Targeted but didn’t fall victim Not targeted Most reported fraud scheme
    India 13% 41% 46% Identity theft
    South Africa 13% 55% 31% Phishing
    Dominican Republic 12% 24% 64% Vishing
    Kenya 11% 71% 19% Smishing
    Mexico 11% 31% 58% Stolen credit card
    Namibia 11% 52% 37% Vishing
    Philippines 11% 63% 26% Phishing
    Puerto Rico 11% 25% 63% Stolen credit card
    United States 11% 41% 48% Smishing
    Brazil 10% 30% 60% Vishing
    Rwanda 10% 57% 33% Money mule
    Spain 10% 25% 65% Phishing
    Canada 9% 47% 44% Phishing
    Chile 9% 30% 61% Vishing
    Colombia 9% 33% 58% Vishing
    Zambia 9% 70% 21% Smishing
    Hong Kong 6% 45% 48% Phishing
    United Kingdom 6% 44% 50% Phishing
    Source: TransUnion consumer survey
             

    TransUnion came to its conclusions about digital fraud and data breaches based on intelligence from TransUnion TruValidate and TruEmpower respectively.

    Specific country and regional data in the report include the United States, Botswana, Brazil, Canada, Chile, Colombia, the Dominican Republic, Guatemala, Hong Kong, India, Kenya, Mexico, Namibia, the Philippines, Puerto Rico, Rwanda, South Africa, Spain, the United Kingdom and Zambia. Download the TransUnion H1 2025 Update to the State of Omnichannel Fraud Report for more information and insights about the global fraud trends.

    About TransUnion (NYSE: TRU)

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

    http://www.transunion.com/business

    Contact       Dave Blumberg
    TransUnion
         
    E-mail   david.blumberg@transunion.com
         
    Telephone   312-972-6646
         

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

    Key insights from the Barometer include:

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

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

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

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

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

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

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

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

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

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

    The MIL Network –

  • MIL-OSI: Primech Holdings Limited Provides Financial Updates and Corporate Highlights For the Six Months Ended September 30, 2024

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, March 27, 2025 (GLOBE NEWSWIRE) — Primech Holdings Limited (the “Company”) (Nasdaq: PMEC), an established technology-driven facilities services provider in the public and private sectors operating mainly in Singapore, provides a financial and corporate update coincident with the filing of the Company’s financial results for the six months ended September 30, 2024.

    Financial Highlights:

    • Revenue was approximately $36.9 million for the six months ended September 30, 2024, representing a 5.1% increase from the same period in 2023;
    • Gross Profit Margin increased from 16.4% for the six months ended September 30, 2023, to 22.5% for the six months ended September 30, 2024;
    • Sales and marketing expenses increased from approximately $11,000 for the six months ended September 30, 2023 to approximately $1.4 million for the six months ended September 30, 2024.
    • Loss from operations was approximately $0.9 million for the six months ended September 30, 2024, while profit from operations was approximately $0.3 million for the six months ended September 30, 2023.
    • Net loss was approximately $1.3 million for the six months ended September 30, 2024, while net income was approximately $0.2 million for the six months ended September 30, 2023.

    Operational and Corporate Highlights:

    • Primech launched Primech AI as an operating subsidiary focused on creating robotic-based solutions to meet the growing demand for efficient and autonomous cleaning technology. With patents pending, Primech AI is developing HYTRON, a fully autonomous AI-powered toilet cleaning robot featuring 3D-cleaning and electrolyzed water for enhanced efficiency. Primech AI showcased its HYTRON robot at the 2024 CleanEnviro Summit Singapore (CESG) in June, generating significant industry interest.
    • Primech’s subsidiary, Primech A & P Pte. Ltd., was nominated as a finalist for The Singapore Apex Corporate Sustainability Awards in the “LowCarbonSG” category. This recognition acknowledges the Company’s achievement of at least 5% improvement in Scope 1 and 2 carbon emissions over 24 months through strategic initiatives.

    Management Commentary:

    Kin Wai Ho, CEO of Primech Holdings Limited, commented, “While our financial results for this period reflect the significant investments we are making in technology and market development, we believe these strategic initiatives position us for substantial long-term growth and enhanced shareholder value. The increased marketing expenses reflect our commitment to expanding our market presence and promoting our innovative solutions, particularly our AI-powered cleaning technologies.”

    About Primech Holdings Limited
    Headquartered in Singapore, Primech Holdings Limited is a leading provider of comprehensive technology-driven facilities services, predominantly serving both public and private sectors throughout Singapore. Primech Holdings offers an extensive range of services tailored to meet the complex demands of its diverse clientele. Services include advanced general facility maintenance services, specialized cleaning solutions such as marble polishing and facade cleaning, meticulous stewarding services, and targeted cleaning services for offices and homes. Known for its commitment to sustainability and cutting-edge technology, Primech Holdings integrates eco-friendly practices and smart technology solutions to enhance operational efficiency and client satisfaction. This strategic approach positions Primech Holdings as a leader in the industry and a proactive contributor to advancing industry standards and practices in Singapore and beyond. For more information, visit www.primechholdings.com.    

    About Primech AI
    Primech AI is a leading robotics company dedicated to pushing the boundaries of innovation in technology. With a team of passionate individuals and a commitment to collaboration, Primech AI is poised to revolutionize the robotics industry with groundbreaking solutions that make a meaningful impact on society. For more information, visit www.primech.ai.

    Forward-Looking Statements
    Certain statements in this announcement are forward-looking statements, including, for example, statements about completing the acquisition, anticipated revenues, growth, and expansion. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. These forward-looking statements are also based on assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

    Company Contact:
    Email: ir@primech.com.sg

    Investor Relations Contact:        
    Matthew Abenante, IRC
    President                                        
    Strategic Investor Relations, LLC                                         
    Tel: 347-947-2093
    Email: matthew@strategic-ir.com

    The MIL Network –

  • MIL-OSI: Brookfield Wealth Solutions Completes Annual Filings

    Source: GlobeNewswire (MIL-OSI)

    BROOKFIELD, NEWS, March 27, 2025 (GLOBE NEWSWIRE) — Brookfield Wealth Solutions Ltd. (NYSE, TSX: BNT) announced today the filing of its 2024 annual report, including audited financial statements for the year ended December 31, 2024, on Form 20-F with the SEC on EDGAR as well as with Canadian securities regulatory authorities on SEDAR+.

    These documents are available at bnt.brookfield.com, on the SEC’s website at www.sec.gov and on Brookfield Wealth Solutions’ SEDAR+ profile at www.sedarplus.ca. Hard copies will be provided to shareholders free of charge upon request.

    About Brookfield Wealth Solutions
    Brookfield Wealth Solutions Ltd. (NYSE, TSX: BNT) is focused on securing the financial futures of individuals and institutions through a range of retirement services, wealth protection products and tailored capital solutions. Each class A exchangeable limited voting share of Brookfield Wealth Solutions is exchangeable on a one-for-one basis with a class A limited voting share of Brookfield Corporation (NYSE, TSX: BN).

    For more information, please visit our website at bnt.brookfield.com or contact:

    Media:
    Kerrie McHugh
    Tel: +1.212.618.3469
    Email: kerrie.mchugh@brookfield.com    		 Investor Relations:
    Rachel Schneider
    Tel: +1.416.369.3358
    Email: rachel.schneider@brookfield.com

    The MIL Network –

  • MIL-OSI Africa: Congo’s Hydrocarbons Minister Endorses Congo Energy & Investment Forum (CEIF) 2026, Eyes 500,000 bpd Production Target

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

    BRAZZAVILLE, Congo (Republic of the), March 27, 2025/APO Group/ —

    H.E. Bruno Jean-Richard Itoua, Minister of Hydrocarbons of the Republic of Congo, has endorsed the continuation of the Congo Energy & Investment Forum (CEIF) through 2026, emphasizing its role in supporting the country’s ambitious production targets. During a Fireside Chat with Daisy Portella at the Congo Energy & Investment Forum 2025, Minister Itoua said, “Considering Congo’s objective to reach 500,000 barrels per day in the next three years, I want CEIF to be held annually for the next three years.”

    Minister Itoua also announced plans to revise the 2016 Hydrocarbons Code to make it more attractive and modern. Minister Itoua announced that the revision is part of the ministry’s strategy to enhance oil production by developing marginal fields. “We are working on revisiting the 2016 Hydrocarbons Code to modernize it and make it more attractive,” he stated.

    Discussing marginal fields, he outlined opportunities for local companies. “Marginal fields provide immediate cash flow. They require only minimal additional investment and are within the reach of national companies. “With the African Petroleum Producers Organization countries, we are considering this approach. Once we master this, we can move on to exploration.” He encouraged local players’ participation, adding, “We want to see national companies become true industrial players. There are opportunities for national oil companies to partner and grow.”

    Minister Itoua shared the same objective for the Société Nationale des Pétroles du Congo (SNPC), stating, “SNPC holds some marginal fields, such as Konkuala. I want to see SNPC become the Perenco of Congo. I intend to propose new offshore marginal fields to SNPC.”

    As part of this strategy, Minister Itoua plans to launch a new licensing round soon to attract investment in deepwater, marginal fields, and gas assets. “There may be a session soon to launch the new licensing round with Energy Capital & Power. We want to give access to deepwater acreage, some marginal fields, and a special bid round focused on gas,” he stated.

    The Minister also emphasized the growing importance of gas in the country’s energy strategy. “We have accelerated the adoption of a gas code and we intend to create the Office Congolais du Gaz to serve as a local intermediary for stakeholders in the gas value chain,” he said. “We are ready to discuss and support any gas project.”

    Minister Itoua sees gas as a transition fuel that will enable Congo to achieve energy security while highlighting the continued need for fossil fuels. “Studies show that until 2040, the global energy mix will still require 40% fossil energy,” he noted. “Africa is working for the world, and gas is now recognized as the ideal transition fuel.”

    MIL OSI Africa –

  • MIL-OSI USA: Gross Domestic Product, 4th Quarter and Year 2024 (Third Estimate), GDP by Industry, and Corporate Profits

    Source: US Bureau of Economic Analysis

    Real gross domestic product (GDP) increased at an annual rate of 2.4 percent in the fourth quarter of 2024 (October, November, and December), according to the third estimate released by the U.S. Bureau of Economic Analysis. In the third quarter, real GDP increased 3.1 percent.

    The increase in real GDP in the fourth quarter primarily reflected increases in consumer spending and government spending that were partly offset by a decrease in investment. Imports, which are a subtraction in the calculation of GDP, decreased.

    Real GDP was revised up 0.1 percentage point from the second estimate, primarily reflecting a downward revision to imports. For more information, refer to the “Technical Notes” below.

    Compared to the third quarter, the deceleration in real GDP in the fourth quarter primarily reflected downturns in investment and exports that were partly offset by an acceleration in consumer spending. Imports turned down.

    From an industry perspective, the increase in real GDP reflected an increase of 2.3 percent in real value added for private goods-producing industries, an increase of 2.4 percent for private services-producing industries, and an increase of 2.7 percent for government.

    Real gross output increased 1.7 percent in the fourth quarter, reflecting an increase of 0.3 percent for private goods-producing industries, an increase of 2.0 percent for private services-producing industries, and an increase of 3.1 percent for government.

    The price index for gross domestic purchases increased 2.2 percent in the fourth quarter, revised down 0.1 percentage point from the previous estimate. The personal consumption expenditures (PCE) price index increased 2.4 percent, the same as previously estimated. Excluding food and energy prices, the PCE price index increased 2.6 percent, revised down 0.1 percentage point from the previous estimate.

    Real gross domestic income (GDI) increased 4.5 percent in the fourth quarter compared with an increase of 1.4 percent in the third quarter.

    Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) increased $204.7 billion in the fourth quarter, in contrast to a decrease of $15.0 billion in the third quarter.

    Real GDP and Related Measures
    (Percent change from Q3 to Q4)
      Advance Estimate Second Estimate Third Estimate
    Real GDP 2.3 2.3 2.4
    Current-dollar GDP 4.5 4.8 4.8
    Real GDI … … 4.5
    Average of Real GDP and Real GDI … … 3.5
    Gross domestic purchases price index 2.2 2.3 2.2
    PCE price index 2.3 2.4 2.4
    PCE price index excluding food and energy 2.5 2.7 2.6

    GDP and Related Measures for 2024

    Real GDP increased 2.8 percent in 2024 (from the 2023 annual level to the 2024 annual level), the same as previously estimated. The increase in real GDP in 2024 reflected increases in consumer spending, investment, government spending, and exports. Imports increased.

    From an industry perspective in 2024, private goods-producing industries increased 3.4 percent, private services-producing industries increased 2.8 percent, and government increased 1.9 percent.

    The price index for gross domestic purchases increased 2.4 percent in 2024, the same as previously estimated. The PCE price index increased 2.5 percent and the PCE price index excluding food and energy prices increased 2.8 percent, both the same as previously estimated.

    Real gross domestic income (GDI) increased 3.0 percent in 2024, compared with an increase of 1.7 percent in 2023.

    Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) increased $281.3 billion in 2024, compared with an increase of $229.8 billion in 2023.

    For definitions, statistical conventions, updates to GDP, and more, visit “Additional Information.”

    Next release: April 30, 2025, at 8:30 a.m. EDT
    Gross Domestic Product (Advance Estimate)
    1st Quarter 2025

    Technical Notes

    Sources of revisions to real GDP in the third estimate

    Real GDP increased at an annual rate of 2.4 percent (0.6 percent at a quarterly rate1), an upward revision of 0.1 percentage point from the previous estimate, primarily reflecting a downward revision to imports that was partly offset by a downward revision to consumer spending.

    • For imports, the revision was led by services (notably, charges for the use of intellectual property as well as financial services), primarily reflecting updated data from BEA’s International Transactions Accounts.
    • The downward revision to consumer spending reflected a downward revision to services that was partly offset by an upward revision to goods.
      • Within services, the downward revision was led by final consumption expenditures of nonprofit institutions (led by nonprofit hospitals), based primarily on new and revised data from the Census Bureau Quarterly Services Survey.
      • Within goods, the upward revision was led by other nondurable goods and motor vehicles and parts, based on revised Census Bureau Monthly Retail Trade Survey data.

    More information on the source data and BEA assumptions that underlie the fourth-quarter estimate is shown in the key source data and assumptions table.

    1Percent changes in quarterly seasonally adjusted series are displayed at annual rates, unless otherwise specified. For more information, refer to the FAQ Why does BEA publish percent changes in quarterly series at annual rates?.  .

    MIL OSI USA News –

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

    Source: US State of California

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

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

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

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

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

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

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

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

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

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

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

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

    FOR FURTHER INFORMATION CONTACT: AnticompetitiveRegulations@usdoj.gov.

    MIL OSI USA News –

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

    Source: United States Attorneys General 1

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

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

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

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

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

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

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

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

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

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

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

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

    FOR FURTHER INFORMATION CONTACT: AnticompetitiveRegulations@usdoj.gov.

    MIL Security OSI –

  • MIL-OSI Video: Not afraid to get wet, are you?

    Source: US Army (video statements)

    The Army Mission – our purpose – remains constant: To deploy, fight and win our nation’s wars by providing ready, prompt & sustained land dominance by Army forces across the full spectrum of conflict as part of the joint force.

    Interested in joining the U.S. Army?
    Visit: spr.ly/6001igl5L

    Connect with the U.S. Army online:
    Web: https://www.army.mil
    Facebook: https://www.facebook.com/USarmy/
    X: https://www.twitter.com/USArmy
    Instagram: https://www.instagram.com/usarmy/
    LinkedIn: https://www.linkedin.com/company/us-army
    #USArmy #Soldiers #Military #Shorts

    https://www.youtube.com/watch?v=8anx489Iw1Y

    MIL OSI Video –

  • MIL-OSI Africa: Appointment of Dr. Khalid Khalafalla as Acting Chief Executive Officer of Islamic Corporation for the Development of the Private Sector (ICD)

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

    JEDDAH, Saudi Arabia, March 27, 2025/APO Group/ —

    The Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank (IsDB) Group, is pleased to announce that its Board of Directors has approved the appointment of Dr. Khalid Khalafalla as Acting Chief Executive Officer (CEO), effective 19 March 2025. 

    Dr. Khalafalla brings extensive experience from his career within the IsDB Group. Since December 2024, he has been serving as CEO of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).   

    The Chairman of ICD’s Board of Directors, congratulated Dr. Khalafalla on his appointment and expressed the Board’s full confidence and support as he takes on this important responsibility. 

    MIL OSI Africa –

  • MIL-OSI Banking: RBI imposes monetary penalty on NKGSB Co-operative Bank Limited, Mumbai

    Source: Reserve Bank of India

    The Reserve Bank of India (RBI) has, by an order dated March 25, 2025, imposed a monetary penalty of ₹15.00 lakh (Rupees Fifteen Lakh only) on NKGSB Co-operative Bank Limited, Mumbai (the bank), for non-compliance with certain directions issued by RBI on ‘Management of Advances – UCBs’. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.

    The statutory inspection of the bank was conducted by RBI with reference to its financial position as on March 31, 2023. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the bank advising it to show cause as to why penalty should not be imposed on it for its failure to comply with the said directions. After considering the bank’s reply to the notice, oral submissions made during the personal hearing and examination of additional submissions made by it, RBI found, inter alia, that the following charge against the bank was sustained, warranting imposition of monetary penalty:

    The bank had sanctioned/granted certain loans for purchase of gold.

    This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Further, imposition of this monetary penalty is without prejudice to any other action that may be initiated by RBI against the bank.

    (Puneet Pancholy) 
    Chief General Manager

    Press Release: 2024-2025/2476

    MIL OSI Global Banks –

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    For his part, Dutton understands the odds against him.

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

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

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

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

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

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

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

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI Global: Canadians are anxious as they ponder how to vote this election. Which leader can ease their fears?

    Source: The Conversation – Canada – By Lori Turnbull, Professor of Political Science in the Faculty of Management at Dalhousie University, Dalhousie University

    This federal election is being described as the most consequential in modern Canadian history. The country is in a tariff and trade war with its closest ally, the United States, and President Donald Trump is threatening Canada’s sovereignty.

    No wonder Canadians are feeling anxious and fearful. And in times of crisis, people tend to look extra hard for leaders they can trust.

    Liberal Leader Mark Carney, a rookie in politics but an internationally respected economist, is enjoying a wave of momentum. Due to his stints as governor of the Bank of Canada during the 2008-09 financial crash and the Bank of England during Brexit, he’s well-qualified to manage economic roller-coasters. Can his impressive CV help calm the fears of Canadians?

    Conservative Leader Pierre Poilievre, on the other hand, has been connecting with supporters by giving voice to their worries about the economy, jobs, crime and the housing crisis. He’s made people feel heard, but he’s also been accused of building his brand appeal by stoking — rather than soothing — Canadians’ fears about the future.

    Carney’s track record as a fixer could give him the edge now that the election campaign is in full swing and Canada’s fears are being amplified.

    Liberals wildly unpopular

    Before Justin Trudeau announced his plans to leave politics, the next federal election was shaping up to be a showdown between Trudeau and Poilievre, two career politicians with likeability problems and a palpable mutual resentment.

    Each of them often used fear as a tool to warn Canadians about the dangers of electing the other. The mood in the country was sour.

    In July 2024, an Abacus Data poll indicated only 23 per cent of Canadians felt the country was headed in the right direction. The affordability crisis was weighing on people, as 45 per cent of respondents reported having a hard time keeping up with daily expenses due to rising prices.

    The long-standing consensus around the benefits of immigration was crumbling due to the lack of suitable housing for everyone.



    Read more:
    Canada at a crossroads: Understanding the shifting sands of immigration attitudes

    A third of Canadians also self-identified as “political orphans” who felt that none of the political parties truly represented them.

    Most of the public was blaming the Liberals for the broad mismanagement of various important complex policy files, and the Conservatives were the largest beneficiaries of voter frustration. They looked like they had the next election in the bag.

    Dramatically altered landscape

    It’s now March 2025 and the political playing field looks wildly different. Though the aforementioned issues remain salient, Trudeau has resigned and Carney has erased the lead in public support that Poilievre and the Conservatives held not long ago.

    Most polls suggest the parties are in a dead heat while others have Carney pulling ahead. In the hope of winning enough votes to form a majority government — in Carney’s own words, he’s asked the public for a “strong, positive mandate” — he is running on a platform aimed at the political centre to offer a home to those political orphans.

    Carney’s pitching tax cuts, pipeline projects, reduced trade barriers between the provinces and balanced operational spending while running deficits for investments that would grow the economy. He’s done away with the unpopular consumer carbon tax.

    Given that Carney is pulling the Liberals back to the centre, and that there is actually overlap between the Conservatives and the Liberals — both spent the first full day of the campaign promising income tax cuts — it seems the real choice in this election is about leadership rather than dramatically different policy platforms.

    It’s no surprise that Carney’s unique professional experience elevates his bid to be prime minister in the current political climate. So far, he’s been a calm presence amid a volatile and developing storm. Despite Conservative efforts to try to diminish him, his credentials speak for themselves.

    This helps him to build trust among voters. At any other time, his snippiness with the media when asked about his financial holdings might cost him some political capital, but in the current moment, he will likely be given a pass.



    Read more:
    Can Mark Carney truly connect with Canadian voters? Canada will now find out

    Poilievre no longer has Trudeau for a target

    As British Prime Minister Harold Macmillan once explained, politics is about “events, dear boy, events.”

    Much to the certain chagrin of Conservatives, the polls suggest this moment was custom-made for Carney.

    Trump’s attacks and threats against Canadian sovereignty tee up Carney’s pitches for Canada’s economic independence perfectly. His campaign material basically writes itself, and his economic gravitas makes him a solid messenger.

    Carney is both reassuring Canadians in this moment of anxiety as well as tapping into Canadian pride, in his own words and through celebrity proxies like comedian Mike Myers who are helping him reach audiences who tuned out Trudeau a long time ago.

    Mike Myers appears with Mark Carney in this ad on Carney’s YouTube channel.

    This is not to count out Poilievre. With the Conservative base firmly behind him, he could be poised to form a government or keep Carney to a minority.

    But the question on the ballot is no longer about Trudeau — it’s about who Canadians trust to lead them through a disruptive and unpredictable time.

    Poilievre has been working tirelessly for years to position himself as the person for the job.

    But the peculiar circumstances of the moment — and the fear and anxiety that Canadians are having trouble shaking amid Trump’s continuing threats — might drive many voters towards the non-politician whose track record as a fixer gives people the reassurance they are looking for.

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

    – ref. Canadians are anxious as they ponder how to vote this election. Which leader can ease their fears? – https://theconversation.com/canadians-are-anxious-as-they-ponder-how-to-vote-this-election-which-leader-can-ease-their-fears-252701

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Public land unlocked for the next generation of home owners

    Source: United Kingdom – Executive Government & Departments

    Press release

    Public land unlocked for the next generation of home owners

    New taskforce to unlock thousands of homes across England as government takes on the blockers to release surplus public land for housing.

    • New taskforce to unlock thousands of homes across England as government takes on the blockers to release surplus public land for housing, with defence land becoming a ‘trailblazer’ for a new approach for development.

    • Network Rail property company set to unlock up to 40,000 new homes over the next decade with first homes set for development in Newcastle, Cambridge, Manchester, and Nottingham.  

    • Initiatives support the Plan for Change missions to deliver 1.5 million homes by the next parliament, creating jobs and stimulating economic growth.

    Thousands of new homes will be unlocked on surplus public defence land to speed up the delivery of housing for hard-working people and families, thanks to a new taskforce to remove the blockers, build homes and turbocharge economic growth. Alongside a pioneering new Network Rail property company, which will see a further 40,000 homes built, supporting delivery of building 1.5 million homes, as set out in the Plan for Change.

    This goes hand in hand with the government’s planning reforms, which are forecasted to add around £6.2 billion the UK’s economy, according to yesterday’s OBR forecast. This will bring jobs, opportunity and growth to regions across the country – enabling people to see the Plan for Change in action.

    Unused land will be identified, developed and released by a cross-government collaboration, which will focus on getting it back into productive use as quickly as possible by removing barriers that have prevented houses coming forward at pace on vacant public land for too long. 

    This ambitious new partnership approach will explore new delivery models, establish collaborative agreements between the Ministry of Defence, Homes England, Network Rail and other government bodies, bring in the private sector – ultimately getting spades in the ground sooner to deliver homes faster, making the dream of homeownership a reality for many.

    It will also see a new property company created between Network Rail property and London & Continental Railways, which will attract public and private investment to develop brownfield sites. It will become operational later this year and will have the potential to deliver 40,000 new homes over the next ten years. Today the Chancellor Rachel Reeves is confirming the first four sites that will be developed in Newcastle, Cambridge, Manchester, and Nottingham.

    Chancellor Rachel Reeves said:

    For too long, surplus government-owned sites have gone underused, but they are a huge untapped resource that could create opportunities for the next generation of homeowners. 

    In contrast to the failed approach of the past, we are making the best use of public land to build the homes that families and our Armed Forces need, improving opportunities for homeownership and creating jobs across the country.

    The OBR has confirmed our planning reforms will result in housebuilding being at its highest in over 40 years – that won’t just bring jobs and economic growth – but also will give families the homes that they deserve, delivering on our Plan for Change.

    Deputy Prime Minister and Housing Secretary, Angela Rayner said:

    So many working people and families are locked out of the dream of a secure home and this is a direct consequence of the housing crisis we’ve inherited.

    That’s why we’re unlocking public land today for much-needed new housing to help end the housing crisis, deliver 1.5 million homes, and unleash growth as part of our Plan for Change.

    Defence land 

    Today (27 March) the Chancellor is confirming the first of these sites to be unblocked through this ambitious new approach and begin delivering homes in this Parliament. This includes a site in Ripon, which will be transferred from MoD to Homes England to allow construction at Deverell Barracks to start within 12 months to expedite the delivery of 1,300 homes.

    A new partnership between the MoD and Homes England will also aim to unlock a further 1,300 homes by partially releasing land at Chetwynd Barracks, Chilwell and deliver thousands of new homes at Wyton airfield in Cambridgeshire in the coming years.

    This move is just the start, the Defence Secretary has identified the long-term opportunity to build over 100,000 homes on surplus defence land, improving opportunities for homeownership and creating jobs across the country. 

    Part of this effort includes a commitment to building and modernising family homes for the Armed Forces and Veterans. The disastrous 1996 privatisation of Armed Forces family housing was reversed in January this year, an established expert and independent Review Team will drive a once in a generation plan to modernise homes for 50,000 Armed Forces families, with a new Defence Housing Strategy to be launched later this Summer.

    The innovative partnership between the MoD and Homes England will be the blueprint for a new “trailblazer” approach to accelerate the release of public land.

    Defence Secretary John Healey said:

    This work will unlock thousands of new homes on surplus defence land, including in North Yorkshire, Nottingham and Cambridgeshire – developments promised for years by the last government, but never delivered.

    This heralds a new, trailblazer approach to the use of public land which will not be a fire sale of public assets, but a truly cross-government effort to remove blockers, deliver homes and boost growth in support of our Plan for Change.

    This taskforce is a bold first step, as we make the most of an historic opportunity to build over 100,000 homes on surplus defence land in the coming years, delivering on our commitments to British families and our Armed Forces.

    Rail estate land 

    As part of the new property company, significant sites that are in the pipeline for development, include: 

    • Newcastle Forth Yards: a 100-acre regeneration opportunity which could deliver 5,000 new homes 

    • Manchester Mayfield: opportunity for 1,500 new homes 

    • Cambridge: a mixed-use development with 425 homes  

    • Nottingham: 200 new homes following 348 successfully delivered homes at The Barnum, Nottingham 

    Today’s announcements follow the introduction of the Planning and Infrastructure Bill to Parliament which will see significant measures introduced to speed up planning decisions to boost housebuilding and builds on work the government has already carried out to get Britain building including overhauling the National Planning Policy Framework.

    More information

    • The government is committed to honouring the sacrifices made by veterans and ensuring homes will be there for heroes. In November, the government announced plans to give veterans greater access to social housing by removing a local connection requirement. More information within the Easier access to social housing for veterans confirmed press release.

    • The government will publish a Long-Term Housing Strategy and has committed to set out details of further new government investment in social and affordable housing to at the Spending Review this year, following on from the £2 billion down payment announced yesterday, as well as confirming the government’s plans to provide certainty for the transformative programme of building the new generation of new towns.

    Updates to this page

    Published 27 March 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: ‘Pet supplies’ company run by serial disqualified director is shut down

    Source: United Kingdom – Executive Government & Departments

    Press release

    ‘Pet supplies’ company run by serial disqualified director is shut down

    Company director has previously been banned three separate times

    • Furrry Pet Group UK Ltd has been shut down after it was revealed its sole director was Darren Anderson 

    • Anderson, who has used several different aliases, has been disqualified as a company director for the maximum 15-year period on three separate occasions 

    • The 41-year-old failed to comply with the Insolvency Service’s latest investigation and accounts claiming the company had assets of more than £3 million were unable to be verified 

    A company which claimed to sell pet supplies but was run by a disqualified director serving a maximum-length ban has been shut down. 

    Furrry Pet Group UK Ltd, previously known until August 2024 as The Holiday Travel Group Ltd, was wound-up at the High Court in Manchester on Wednesday 26 March. 

    Insolvency Service investigations found that the sole director, Dr Darren Anderson, is currently serving a 15-year disqualification after being convicted under the name of Dr Timothy Ahlbeck in April 2021. 

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

    Our investigations into Furrry Pet Group revealed serious concerns that Darren Anderson appeared to have used various pseudonyms in a deliberate attempt to disguise his director disqualification. 

    Acting as a director while disqualified is a serious criminal offence and that alone would give us reason to take the action we have to stop the company from trading in the future. 

    The fact that unverified accounts exist showing net assets of more than £3 million only made us more determined to take the important first step in not allowing this behaviour to go unchecked.

    Furrry Pet Group was established in December 2022 with Anderson as its director. The company’s most recent registered office address was on New North Road in Islington, London, having previously been based in Manchester and Chester. 

    Anderson was serving a 15-year director ban at the time Furrry Pet Group was incorporated. The disqualification remains in force until April 2036.  

    The order prevents Anderson from being involved in the promotion, formation or management of a company, without the permission of the court. Failing to follow the restrictions can result in criminal prosecution. 

    Anderson also received 15-year director disqualifications in 2011 and 2014 under the pseudonym Miles Prestland-Windsor for misconduct relating to other companies. 

    Intelligence gathered by the Insolvency Service revealed other aliases Anderson has used which include: 

    • Jonathan Briggis 

    • Timothy Richard Skelding 

    • Myles Prestland-Windsor 

    • Simon Prestland-Windsor 

    • Martin Jones 

    • Michael John Poole 

    • Jason Elwell 

    • Lord Timothy Ahlbeck 

    • The 18th Duke of Ahlbeck 

    • Timothy Ahlbeck 

    • Dr Timothy Albeck 

    • Dr Timothy Halbeck 

    • Darren Jones 

    There is also no evidence that Anderson is a doctor as he claims. 

    Anderson failed to co-operate with the Insolvency Service’s investigation into Furrry Pet Group and did not provide accounting records on request. 

    The absence of any banking records meant that investigators were unable to identify any legitimate trading, customers or company expenditure. 

    Accounts filed at Companies House which claimed total net assets of £3.15 million were similarly not verified, as was the claim that Furrry Pet Group employed 20 members of staff. 

    A previous company run by Anderson, Zulu Travel Services Ltd, was wound-up in the public interest in the summer of 2024. Zulu Travel left other businesses out of pocket after using their services and misled members of the public, who could have bought holidays that they believed had travel protection.  

    The Official Receiver has been appointed as liquidator of Furrry Pet Group UK Ltd. 

    All enquiries concerning the affairs of the company should be made to the Official Receiver of the Public Interest Unit: 16th Floor, 1 Westfield Avenue, Stratford, London, E20 1HZ. piu.or@insolvency.gov.uk. 

    Insolvency Service investigations remain ongoing. 

    Further information 

    Updates to this page

    Published 27 March 2025

    MIL OSI United Kingdom –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

    WNTR Overview

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

    WNTR Portfolio Construction

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

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

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

    Why Invest in WNTR?

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

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

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


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

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

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

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

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

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

    Standardized Performance

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

    Important Information

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

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

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

    Risk Disclosures

    Investing involves risk. Principal loss is possible.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Risk Disclosures (applicable only to GPTY)

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

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

    Risk Disclosure (applicable only to MARO)

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

    Risk Disclosures (applicable only to BABO and TSMY)

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

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

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

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

    Risk Disclosures (applicable only to GDXY)

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

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

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

    Risk Disclosures (applicable only to YBIT)

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

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

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

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

    Risk Disclosures (applicable only to the Short ETFs)

    Investing involves risk. Principal loss is possible.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Risk Disclosures (applicable only to YQQQ)

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

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

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

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

    © 2025 YieldMax™ ETFs

    The MIL Network –

  • MIL-OSI: 67 Percent of Developers Say AI Has Increased Pressure to Deliver Faster – At a Pace That’s Becoming Unrealistic

    Source: GlobeNewswire (MIL-OSI)

    CUPERTINO, Calif., March 27, 2025 (GLOBE NEWSWIRE) — HackerRank, the Developer Skills Company, today unveiled the developer hiring, AI and upskilling trends shaping 2025. In the latest release of its annual Developer Skills Report, HackerRank found disparities in how AI is currently used among the developer community. At the same time, hiring expectations and employment satisfaction are changing, with some 40 percent of developers planning to leave their current jobs within a year. This confluence of factors is making it imperative that companies ensure that workforce strategies keep pace with talent or risk losing out to the competition.

    Leveraging millions of real-world interactions from the HackerRank platform and survey responses from 13,372 developers representing 102 countries, HackerRank’s Developer Skills Report offers a data-driven look at the developer landscape in 2025. High-level findings indicate:

    • 97 percent of developers use AI, but deep adopters see greater gains than casual users. Developers leaning into AI are getting more done and completing projects faster.
    • With an average one-third of code now AI-generated, companies have come to expect faster output, which is raising pressure on developer talent. The heaviest users report that 48 percent of their code is AI-generated.
    • Developers’ biggest concerns for 2025 are advancing their careers and keeping up with new technologies. Sixty-one percent of developers without learning opportunities plan to leave their current roles within a year rather than wait for companies to invest in them.
    • 74 percent of developers say finding a job remains difficult. But the issue isn’t a lack of open positions – it’s the hiring process, especially for early-career entrants.
    • Even as hiring picks up, layers of friction make landing a job harder than it should be, and many developers filter out long before the offer stage. Sixty-six percent of developers want to be evaluated on real-world skills over theoretical tests.

    “The shift from human-only work to AI-augmented work is accelerating, and now AI isn’t just assisting—it’s acting as an agent, making decisions, generating code and performing tasks once limited to skilled professionals,” said Kyle Lagunas, Head of Strategy & Principal Analyst at Aptitude Research. “This isn’t a future problem; it’s today’s reality. HR needs to be thinking beyond hiring and upskilling—it’s about workforce planning at a whole new level.”

    The 2025 HackerRank Developer Skills Report also takes a closer look at the tech hiring experience from the developer’s perspective at various career stages, including current challenges around resume filters, response times, ghost postings, assessment prep and more. That is contrasted against how AI is changing both how developers work and how they view their work in the context of career development, learning and upskilling, providing critical insights for employers looking to improve tech recruiting strategies and outcomes in 2025 and beyond.

    Vivek Ravisankar, co-founder and CEO of HackerRank, commented, “For developers, the AI revolution is already here, and in most cases, they are adapting faster than their employers. Our research shows that if companies are serious about hiring and retaining tech talent, they need to rethink how they attract, engage and upskill developers sooner rather than later. This report offers a clear look at what needs to change and why.”

    To download the 2025 HackerRank Developer Skills Report, visit https://www.hackerrank.com/reports/developer-skills-report-2025.

    About HackerRank
    HackerRank, the Developer Skills Company, leads the market with over 2,500 customers and a community of over 25 million developers. Having pioneered this space, companies trust HackerRank to help them set up a skills strategy, showcase their brand to developers, implement a skills-based hiring process, and ultimately upskill and certify employees…all driven by AI. Learn more at hackerrank.com.

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

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

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

    Subscribe to the OTC Markets RSS Feed

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

    The MIL Network –

  • MIL-OSI: Bitfarms Reports Fourth Quarter 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    – Revenue of $56 million, up 21% Y/Y –
    – Gross mining margin of 47%, down from 57% from Q4 2023 –
    – 18.6 EHuM up 186% from Q4 2023-
    – Current efficiency of 19w/TH a 45% improvement from Q4 2023-
    -Total energy pipeline of ~1.4 GW, ~80% based in the U.S.-
    -Completed acquisition of Stronghold Digital Mining & sale of Yguazu, Paraguay data center-

    This news release constitutes a “designated news release” for the purposes of the Company’s second amended and restated prospectus supplement dated December 17, 2024, to its short form base shelf prospectus dated November 10, 2023.

    TORONTO, Ontario and BROSSARD, Québec, March 27, 2025 (GLOBE NEWSWIRE) — Bitfarms Ltd. (Nasdaq/TSX: BITF), a global vertically integrated Bitcoin data center company, reported its financial results for the fourth quarter ended December 31, 2024. All financial references are in U.S. dollars.  

    CEO Ben Gagnon stated, “Bitfarms is a completely different company than we were at the beginning of 2024. Across nearly every metric, we have rapidly transformed from the international Bitcoin miner to a North American energy and compute company.  We now have one of the largest portfolios of flexible MW in the PJM market among Bitcoin miners and are well-positioned to capitalize on macro tailwinds and surging demand for U.S. power and infrastructure. From January 2024, we’ve grown our energized capacity over 90% to 461 MW and secured a multi-year pipeline of over 1.4 GW, nearly 80% of which is based in the U.S and over 90% of which is based in North America.

    “Just last week, we closed both the transformative acquisition of Stronghold Digital Mining, the largest M&A deal between two public miners in our industry, and the strategic sale of our 200 MW Yguazu data center, our largest constructed site. Thus far this quarter, we  advanced our HPC/AI strategy with the engagement of two new advisors,  hired two new critical team members, an SVP of HPC and an SVP of Infrastructure, and significantly improved our hashrate, reaching 18.6 EHuM, which we expect will generate operating cash flow through 2026 and beyond.

    “While we remain confident in the significant upside potential of our BTC mining operations and continue to maximize the value of our assets, our revenue diversification strategy—both in the U.S. and with HPC/AI—is geared toward driving greater shareholder value. We aim to secure long-term, predictable cash flows from a well-capitalized HPC/AI customer, while diversifying our revenue streams, reducing our dependency on BTC price volatility, and capitalizing on the growing demand for AI computing. Our two recent strategic transactions, the Stronghold acquisition and the Yguazu data center sale, demonstrate execution of this strategy,” concluded Mr. Gagnon.

    SVP of Mining Operations Alex Brammer stated, “We’ve made significant progress with our mining operations over the past year, nearly tripling our hashrate and improving our efficiency by over 40%. This momentum continues to accelerate. In the last three months alone, we grew our hashrate over 40% to 18.6 EH/s and reached our first half efficiency target of 19 w/TH three months ahead of schedule. This was achieved through the energization of two North American sites, new miner deliveries and continued optimizations across all of our sites.”

    CFO Jeff Lucas stated, “The recent acquisition of Stronghold and sale of Yguazu have expanded our growth opportunities and strengthened our financial profile. Our identified capex requirements for 2025 are now 20% lower than previously planned and we have no plans for large miner purchases in 2025 or 2026; instead, we will be deploying this capital towards developing U.S. energy and HPC infrastructure. We expect that this shift in our strategy will enable us to raise capital more cost-effectively and to secure steadier earnings streams and greater operating margins, the culmination of which we expect will drive long-term shareholder value.”

    Anticipated Megawatt Growth

    Mining Operations

    • Current hashrate of 18.6 EHuM, up from 6.5 EHuM in Q4 2023
    • Current efficiency of 19 w/TH, a 45% improvement from Q4 2023

    Recent Strategic Developments 

    • Completed previously announced acquisition of Stronghold Digital Mining, Inc.
    • Completed previously announced sale of 200 MW data center in Yguazu, Paraguay to HIVE Digital Technologies 
    • Secured two strategic partners, ASG and World Wide Technology, to advance HPC/AI business
    • Strengthened Management team with two new strategic hires, James Bond, SVP of HPC/AI, and Craig Hibbard, SVP of Infrastructure 
    • Initiated Bitcoin One program following the success of Synthetic HODL program in 2024, which achieved a 135% return since the program’s inception in Q4 2023 through December 31, 2024.

    Q4 2024 Financial Highlights

    • Total revenue of $56 million, up 21% Y/Y
    • Gross mining margin of 47%, down from 57% in Q4 2023
    • General and administrative expenses of $18 million, compared to $13 million in Q4 2023
    • Operating loss of $16 million compared to an operating loss of $13 million in Q4 2023
    • Net income of $15 million, or $0.03 per basic and diluted share compared to a net loss of $62 million or $0.21 per basic and diluted share in Q4 2023
    • Adjusted EBITDA* of $14 million, or 25% of revenue, down from $16 million or 35% of revenue in Q4 2023
    • The Company earned 654 BTC at an average direct cost of production per BTC* of $40,800
    • Total cash cost of production per BTC* was $60,800 in Q4 2024

    Liquidity**
    As of March 26, 2025, the Company had total liquidity of approximately $135 million. 

    Q4 2024 and Recent Financing Activities

    • Sold 502 BTC at an average price of $81,400 for total proceeds of $41 million in Q4 2024 and sold 117 of the 414 BTC earned during January and February 2025, generating total proceeds of $11 million. A portion of the funds was used to pay capital expenditures to support the Company’s growth and efficiency improvement objectives.
    • As of March 26, 2025, the Company held 1,093 Bitcoin.
    • Raised $50 million in net proceeds during Q4 2024 bringing the total net proceeds to $314 million through March 26, 2025 under the Company’s 2024 at-the-market equity offering program.
    Quarterly Operating Performance      
      Q4 2024 Q3 2024 Q4 2023
    Total BTC earned                       654                       703                    1,236
    Average Watts/Average TH efficiency***                         22                         23                         35
    BTC sold                       502                       461                    1,135
      As of December 31, As of September 30, As of December 31,
      2024 2024 2023
    Operating EH/s                      12.8                      11.3                         6.5
    Operating capacity (MW)                       394                       310                       240
    Quarterly Average Revenue**** and Cost of Production per BTC*
      Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023
    Avg. Rev****/BTC $82,400 $60,900 $65,800 $52,400 $36,400
    Direct Cost*/BTC $40,800 $36,600 $30,600 $18,400 $14,400
    Total Cash Cost*/BTC $60,800 $53,700 $47,600 $27,900 $23,300

    * Gross mining profit, gross mining margin, EBITDA, EBITDA margin, Adjusted EBITDA, Adjusted EBITDA margin, Direct Cost per BTC and Total Cash Cost per BTC are non-IFRS financial measures or ratios and should be read in conjunction with, and should not be viewed as alternatives to or replacements of measures of operating results and liquidity presented in accordance with IFRS. Readers are referred to the reconciliations of non-IFRS measures included in the Company’s MD&A and at the end of this press release.
    ** Liquidity represents cash and balance of unrestricted digital assets.
    *** Average watts represent the energy consumption of miners.
    **** Average revenue per BTC is for mining operations only and excludes Volta revenue.

    Conference Call 

    Management will host a conference call today at 8:00 am EST. All Q4 2024 materials will be available before the call and can be accessed on the ‘Financial Results’ section of the Bitfarms investor site.  

    The live webcast and a webcast replay of the conference call can be accessed here. To access the call by telephone, register here to receive dial-in numbers and a unique PIN to join the call.

    Non-IFRS Measures*
    As a Canadian company, Bitfarms follows International Financial Reporting Standards (IFRS) which are issued by the International Accounting Standard Board (IASB). Under IFRS rules, the Company does not reflect the revaluation gains on the mark-to-market of its Bitcoin holdings in its income statement. It also does not include the revaluation losses on the mark-to-market of its Bitcoin holdings in Adjusted EBITDA, which is a measure of the cash profitability of its operations and does not reflect the change in value of its assets and liabilities.

    The Company uses Adjusted EBITDA to measure its operating activities’ financial performance and cash generating capability.

    About Bitfarms Ltd.
    Founded in 2017, Bitfarms is a global Bitcoin data center company that contributes its computational power to one or more mining pools from which it receives payment in Bitcoin. Bitfarms develops, owns, and operates vertically integrated mining farms with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The Company’s proprietary data analytics system delivers best-in-class operational performance and uptime.

    Bitfarms currently has 15 operating Bitcoin data centers and two under development situated in four countries: Canada, the United States, Paraguay, and Argentina. Powered predominantly by environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using sustainable and often underutilized energy infrastructure.

    To learn more about Bitfarms’ events, developments, and online communities:

    www.bitfarms.com
    https://www.facebook.com/bitfarms/
    http://x.com/Bitfarms_io
     https://www.instagram.com/bitfarms/
     https://www.linkedin.com/company/bitfarms/

    Glossary of Terms

    • BTC BTC/day = Bitcoin or Bitcoin per day
    • EHuM = Exahash Under Management, which includes Bitfarms’ proprietary hashrate and hashrate being hosted by Bitfarms for third-party hosting clients
    • EH or EH/s = Exahash or exahash per second
    • MW or MWh = Megawatts or megawatt hour
    • w/TH = Watts/Terahash efficiency (includes cost of powering supplementary equipment)
    • Q/Q = Quarter over Quarter
    • Y/Y = Year over Year
    • Synthetic HODL™ = the use of instruments that create Bitcoin equivalent exposure
    • HPC/AI = High Performance Computing / Artificial Intelligence

    Forward-Looking Statements 
    This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. The statements and information in this release regarding the the Company’s energy pipeline and its anticipated megawatt growth in each of the years 2025, 2026 and 2028, its revenue diversification strategy, the success of the Company’s HPC/AI strategy and its ability to capitalize on growing demand for AI computing while securing predictable cash flows, the Company’s ability to drive greater shareholder value,  and other statements regarding future growth, plans and objectives of the Company are forward-looking information.

    Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “prospects”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.

    This forward-looking information is based on assumptions and estimates of management of Bitfarms at the time they were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Bitfarms to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors, risks and uncertainties include, among others: the construction and operation of new facilities may not occur as currently planned, or at all; expansion of existing facilities may not materialize as currently anticipated, or at all; new miners may not perform up to expectations; revenue may not increase as currently anticipated, or at all; the ongoing ability to successfully mine digital currency is not assured; failure of the equipment upgrades to be installed and operated as planned; the availability of additional power may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the power purchase agreements and economics thereof may not be as advantageous as expected; potential environmental cost and regulatory penalties due to the operation of the former Stronghold plants which entail environmental risk and certain additional risk factors particular to the former business and operations of Stronghold including, land reclamation requirements may be burdensome and expensive, changes in tax credits related to coal refuse power generation could have a material adverse effect on the business, financial condition, results of operations and future development efforts, competition in power markets may have a material adverse effect on the results of operations, cash flows and the market value of the assets, the business is subject to substantial energy regulation and may be adversely affected by legislative or regulatory changes, as well as liability under, or any future inability to comply with, existing or future energy regulations or requirements, the operations are subject to a number of risks arising out of the threat of climate change, and environmental laws, energy transitions policies and initiatives and regulations relating to emissions and coal residue management, which could result in increased operating and capital costs and reduce the extent of business activities, operation of power generation facilities involves significant risks and hazards customary to the power industry that could have a material adverse effect on our revenues and results of operations, and there may not have adequate insurance to cover these risks and hazards, employees, contractors, customers and the general public may be exposed to a risk of injury due to the nature of the operations, limited experience with carbon capture programs and initiatives and dependence on third-parties, including consultants, contractors and suppliers to develop and advance carbon capture programs and initiatives, and failure to properly manage these relationships, or the failure of these consultants, contractors and suppliers to perform as expected, could have a material adverse effect on the business, prospects or operations; the digital currency market; the ability to successfully mine digital currency; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of hydroelectricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power to operate cryptocurrency mining assets; the risks of an increase in electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which Bitfarms  operates and the potential adverse impact on profitability; future capital needs and the ability to complete current and future financings, including Bitfarms’ ability to utilize an at-the-market offering program ( “ATM Program”) and the prices at which securities may be sold in such ATM Program, as well as capital market conditions in general; share dilution resulting from an ATM Program and from other equity issuances; volatile securities markets impacting security pricing unrelated to operating performance; the risk that a material weakness in internal control over financial reporting could result in a misstatement of financial position that may lead to a material misstatement of the annual or interim consolidated financial statements if not prevented or detected on a timely basis; risks related to the Company ceasing to qualify as an “emerging growth company”; risks related to unsolicited investor interest, takeover proposals, shareholder activism or proxy contests relating to the election of directors; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; and the adoption or expansion of any regulation or law that will prevent Bitfarms from operating its business, or make it more costly to do so. For further information concerning these and other risks and uncertainties, refer to Bitfarms’ filings on  www.sedarplus.ca (which are also available on the website of the U.S. Securities and Exchange Commission (the “SEC“) at www.sec.gov), including the management’s discussion & analysis for the year-ended December 31, 2024 Although Bitfarms has attempted to identify important factors that could cause actual results to differ materially from those expressed in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended, including factors that are currently unknown to or deemed immaterial by Bitfarms. There can be no assurance that such statements will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on any forward-looking information. Bitfarms does not undertake any obligation to revise or update any forward-looking information other than as required by law.   Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the Toronto Stock Exchange, Nasdaq, or any other securities exchange or regulatory authority accepts responsibility for the adequacy or accuracy of this release.

    Investor Relations Contacts:

    Bitfarms
    Tracy Krumme
    SVP, Head of IR & Corp. Comms.
    +1 786-671-5638
    tkrumme@bitfarms.com

    Media Contacts:

    Caroline Brady Baker
    Director, Communications
    cbaker@bitfarms.com 

    Bitfarms Ltd. Consolidated Financial & Operational Results
         
      Three months ended December 31, Year ended December 31,
    (U.S.$ in thousands except where indicated) 2024   2023   $ Change % Change 2024   2023   $ Change % Change
    Revenues    56,163      46,241          9,922   21 % 192,881   146,366        46,515   32 %
    Cost of revenues   (54,776 )   (44,484 )     (10,292 ) 23 % (225,240 ) (167,868 )     (57,372 ) 34 %
    Gross (loss) profit      1,387        1,757            (370 ) (21) %   (32,359 )   (21,502 )     (10,857 ) 50 %
    Gross margin (1) 2 % 4 % —   —   (17) % (15) %  —   —  
                     
    Operating expenses                
    General and administrative expenses   (18,042 )   (13,405 )       (4,637 ) 35 %   (71,240 )   (39,292 )     (31,948 ) 81 %
    Reversal of revaluation loss on digital
    assets    		            —        1,183         (1,183 ) (100) %            —        2,695         (2,695 ) (100) %
    Gain (loss) on disposition of property,
    plant and equipment and deposits    		         270              (2 )           272   nm        (336 )     (1,778 )        1,442   (81) %
    Impairment on short-term prepaid
    deposits, property, plant and
    equipment and assets held for sale    		            —       (2,270 )        2,270   100 %     (3,628 )   (12,252 )        8,624   (70) %
    Operating loss   (16,385 )   (12,737 )       (3,648 ) 29 % (107,563 )   (72,129 )     (35,434 ) 49 %
    Operating margin (1) (29) % (28) % —   —   (56) % (49) % —   —  
                     
    Net financial income (expenses)    21,843     (49,686 )      71,529   144 %    39,210     (37,194 )      76,404   205 %
    Net (loss) income before income taxes      5,458     (62,423 )      67,881   109 %   (68,353 ) (109,323 )      40,970   (37) %
                     
    Income tax recovery      9,707           378          9,329   nm    14,290           401        13,889     nm
    Net (loss) income    15,165     (62,045 )      77,210   124 %   (54,063 ) (108,922 )      54,859   (50) %
                     
    Basic (loss) earnings per share (in U.S. dollars)        0.03         (0.21 )              —           —         (0.13 )       (0.42 )              —           —  
    Diluted earnings (loss) per share (in U.S. dollars)        0.03         (0.21 )              —           —         (0.13 )       (0.42 )              —           —  
    Change in revaluation surplus – digital assets, net of tax    26,421        7,675        18,746   244 %    39,120        9,242        29,878   323 %
    Total comprehensive income (loss), net of tax    41,586     (54,370 )      95,956   176 %   (14,943 )   (99,680 )      84,737   (85 %)
                     
    Gross Mining profit (2)    25,786      25,454             332   1 %    94,469      70,277        24,192   34 %
    Gross Mining margin (2) 47 % 57 %              —   —   50 % 50 %              —   —  
    EBITDA (2)    29,752     (40,542 )      70,294   173 %    68,315     (21,879 )      90,194   412 %
    EBITDA margin (2) 53 % (88)  % —   —   35 % (15) %              —   —  
    Adjusted EBITDA (2)    14,315      16,332         (2,017 ) (12) %    54,661      43,558        11,103   25 %
    Adjusted EBITDA margin (2) 25 % 35 %              —           —   28 % 30 %              —           —  
       
    1 Gross margin and Operating margin are supplemental financial ratios; refer to Section 10 – Non-IFRS and Other Financial Measures and Ratios of the Company’s MD&A.
    2 Gross Mining profit, Gross Mining margin, EBITDA, EBITDA margin, Adjusted EBITDA and Adjusted EBITDA margin are non-IFRS measures or ratios; refer to Section 10 – Non-IFRS and Other Financial Measures and Ratios of the Company’s MD&A.

     

    Bitfarms Ltd. Reconciliation of Consolidated Net Income (loss) to EBITDA and Adjusted EBITDA
     
      Three months ended December 31, Year ended December 31,
    (U.S.$ in thousands except where indicated) 2024   2023   $ Change % Change 2024   2023   $ Change % Change
    Revenues 56,163   46,241        9,922   21 % 192,881   146,366     46,515   32 %
                     
    Net (loss) income before income taxes 5,458   (62,423 )   67,881   nm (68,353 ) (109,323 )   40,970   (37) %
    Interest (income) and expense (290 ) 91         (381 ) (419) % (4,299 ) 2,659      (6,958 ) (262) %
    Depreciation and amortization 24,584   21,790        2,794   13 % 149,727   84,785     64,942   77 %
    Sales tax recovery – depreciation and amortization —   —              —   — % (8,760 ) —      (8,760 ) 100 %
    EBITDA 29,752   (40,542 )   70,294   nm 68,315   (21,879 )   90,194     nm
    EBITDA margin 53 % (88) %            —           —      35 % (15) %            —     nm
    Share-based payment 4,021   3,906           115   3 % 13,949   10,915        3,034   28 %
    Impairment on short-term prepaid deposits, property, plant and equipment and assets held for sale —   2,270      (2,270 ) 100 % 3,628   12,252      (8,624 ) (70) %
    Reversal of revaluation loss on digital assets —   (1,183 )      1,183   100 % —   (2,695 )      2,695   100 %
    Gain on extinguishment of long-term debt and lease liabilities —   —              —   — % —   (12,835 )   12,835   100 %
    (Gain) loss revaluation of warrants (6,314 ) 42,760   (49,074 ) (115) % (19,603 ) 42,974   (62,577 ) (146) %
    Gain on disposition of marketable securities (782 ) (999 )         217   (22) % (2,313 ) (12,245 )      9,932   (81) %
    Service fees not associated with ongoing operations 1,287   —        1,287   100 % 13,766   —     13,766   100 %
    Sales tax recovery – prior years – energy and infrastructure and G&A expenses (1) —   2,485      (2,485 ) 100 % (16,081 ) 9,281   (25,362 ) (273) %
    Net financial (income) expense and other (13,649 ) 7,635   (21,284 ) (279) % (7,000 ) 17,790   (24,790 ) (139) %
    Adjusted EBITDA 14,315   16,332      (2,017 ) (12) % 54,661   43,558     11,103   25 %
    Adjusted EBITDA margin 25 % 35 % —   —   28 % 30 % —   —  

    nm: not meaningful

       
    1 Sales tax recovery relating to energy and infrastructure and general and administrative expenses have been allocated to their respective periods; refer to Note 29b – Additional Details to the Statement of Profit or Loss and Comprehensive Profit or Loss (Canadian sales tax refund) to the Financial Statements. 
    Bitfarms Ltd. Calculation of Gross Mining Profit and Gross Mining Margin
         
      Three months ended December 31, Year ended December 31,
    (U.S.$ in thousands except where indicated) 2024   2023   $ Change % Change 2024   2023   $ Change % Change
    Gross (loss) profit     1,387       1,757          (370 ) (21) % (32,359 ) (21,502 )   (10,857 ) 50 %
    Non-Mining revenues¹ (1,592 ) (1,285 )        (307 ) 24 % (5,102 ) (5,060 )           (42 ) 1 %
    Depreciation and amortization   24,584     21,790        2,794   13 % 149,727     84,785      64,942   77 %
    Sales tax recovery – depreciation and amortization            —              —              —   — % (8,760 )            —       (8,760 ) (100)  
    Electrical components and salaries     1,403       1,095           308   28 %     4,081       4,151             (70 ) (2) %
    Sales tax recovery – prior years – energy and infrastructure²            —       2,211      (2,211 ) 100 % (14,338 )     8,366     (22,704 ) (271) %
    Other             4        (114 )         118   nm     1,220        (463 )       1,683   nm
    Gross Mining profit   25,786     25,454           332   1 %   94,469     70,277      24,192   34 %
    Gross Mining margin 47 % 57 %            —           —      50 % 50 %             —          —     

    nm: not meaningful

    (1 ) Non-Mining revenues reconciliation:
      Three months ended December 31, Year ended December 31,
    (U.S.$ in thousands except where indicated) 2024   2023   $ Change % Change 2024   2023   $ Change % Change
    Revenues       56,163         46,241          9,922   21 %     192,881       146,366         46,515   32 %
    Less Mining related revenues for the purpose of calculating gross Mining margin:                
    Mining revenues³     (54,571 )     (44,956 )       (9,615 ) 21 %   (187,779 )   (141,306 )     (46,473 ) 33 %
    Non-Mining revenues        1,592          1,285             307   24 %        5,102          5,060               42   1 %
    (2 ) Sales tax recovery relating to energy and infrastructure expenses has been allocated to their respective periods; refer to Note 29b – Additional Details to the Statement of Profit or Loss and Comprehensive Profit or Loss (Canadian sales tax refund) to the Financial Statements. 
    (3 ) Mining revenues include revenues from sale of computational power used for hashing calculations and revenues from computational power sold in exchange of services.
    Bitfarms Ltd. Calculation of Direct Cost and Direct Cost per BTC
     
      Three months ended December 31, Year ended December 31,
    (U.S.$ in thousands except where indicated) 2024   2023   $ Change % Change 2024   2023   $ Change % Change
    Cost of revenues    54,776      44,484      10,292   23 % 225,240   167,868      57,372   34 %
    Depreciation and amortization (24,584 ) (21,790 )     (2,794 ) 13 % (149,727 )   (84,785 )   (64,942 ) 77 %
    Sales tax recovery – depreciation and amortization            —              —              —   — %       8,760               —         8,760   100 %
    Electrical components and salaries     (1,403 )     (1,091 )        (312 ) 29 %     (4,081 )     (4,141 )            60   (1) %
    Infrastructure     (1,456 )     (1,607 )          151   (9) %     (5,784 )     (3,909 )     (1,875 ) 48 %
    Sales tax recovery – prior years – energy and infrastructure (1)            —       (2,211 )      2,211   100 %    14,338       (8,366 )    22,704   271 %
    Other        (649 )            —          (649 ) (100) %             —              82             (82 ) (100) %
    Direct Cost    26,684      17,785        8,899   50 %    88,746      66,749      21,997   33 %
    Quantity of BTC earned          654        1,236          (582 ) (47) %       2,914         4,928       (2,014 ) (41) %
    Direct Cost per BTC (in U.S. dollars)    40,800      14,400      26,400   183 %    30,500      13,500      17,000   126 %

    nm: not meaningful

    Bitfarms Ltd. Calculation of Total Cash Cost and Total Cost per BTC
     
      Three months ended December 31, Year ended December 31,
    (U.S.$ in thousands except where indicated) 2024   2023   $ Change % Change 2024   2023   $ Change % Change
    Cost of revenues    54,776      44,484      10,292   23 % 225,240   167,868      57,372   34 %
    General and administrative expenses    18,042      13,405         4,637   35 %    71,240      39,292      31,948   81 %
         72,818      57,889      14,929   26 % 296,480   207,160      89,320   43 %
    Depreciation and amortization   (24,584 )   (21,790 )     (2,794 ) 13 % (149,727 )   (84,785 )   (64,942 ) 77 %
    Non-cash service expense (2)        (688 )             —          (688 ) (100) %     (1,252 )             —       (1,252 ) (100) %
    Sales tax recovery – depreciation and amortization             —               —               —   — %       8,760               —         8,760   100 %
    Electrical components and salaries     (1,403 )     (1,091 )        (312 ) 29 %     (4,081 )     (4,141 )            60   (1) %
    Share-based payment     (4,021 )     (3,906 )        (115 ) 3 %   (13,949 )   (10,915 )     (3,034 ) 28 %
    Service fees not associated with ongoing operations     (1,287 )             —       (1,287 ) (100) %   (13,766 )             —     (13,766 ) (100) %
    Sales tax recovery – prior years – energy and infrastructure and G&A expenses (1)             —       (2,485 )       2,485   100 %    16,081       (9,281 )    25,362   273 %
    Other     (1,078 )          201       (1,279 ) (636) %     (5,659 )          890       (6,549 ) (736) %
    Total Cash Cost    39,757      28,818      10,939   38 % 132,887      98,928      33,959   34 %
    Quantity of BTC earned          654         1,236          (582 ) (47) %       2,914         4,928       (2,014 ) (41) %
    Total Cash Cost per BTC (in U.S. dollars)    60,800      23,300      37,500   161 %    45,600      20,100      25,500   127 %

    nm: not meaningful

       
    1 Sales tax recovery relating to energy and infrastructure and general and administrative expenses have been allocated to their respective periods; refer to Note 29b – Additional Details to the Statement of Profit or Loss and Comprehensive Profit or Loss (Canadian sales tax refund) to the Financial Statements. 
    2 Non-cash service expense, included in infrastructure, which was exchanged for computational power sold.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d24a5e36-6201-4d4f-a4f9-8fdc9aaeb95b

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

    Results of operations for year ended December 31, 2024

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

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

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

    Balance Sheet

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

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

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

    Dividends

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

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

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

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

    Investor Conference Webcast and Call

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

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

    Replay

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

    About Sachem Capital Corp

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

    Forward Looking Statements

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

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

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

    The MIL Network –

  • MIL-OSI: Currency Exchange International, Corp. Announces Referral Agreement with Agility Forex

    Source: GlobeNewswire (MIL-OSI)

    • Exchange Bank of Canada (“EBC” or the “Bank”) is to refer selected employees and their payment customers in Canada to Agility Forex;

    TORONTO, March 27, 2025 (GLOBE NEWSWIRE) — Currency Exchange International, Corp. (“CXI” or the “Company”) (TSX: CXI) (OTC: CURN), today announced a referral agreement has been entered into with Agility Forex.

    Upon Agility Forex hiring a selected employee, EBC will be referring its corporate payment customers in Canada associated with the employee to Agility Forex for their acceptance. The referral of EBC’s customers and employees to Agility Forex, a B.C. based foreign payments exchange service provider, will mutually benefit all parties and stakeholders.

    “We are optimistic that our referral agreement for select EBC employees and their corporate payment clients is the best outcome for our customers, employees and EBC stakeholders as well as CXI shareholders,” said Randolph Pinna, CEO of CXI and EBC.

    “Agility is pleased to implement this Referral Agreement and welcomes the chance to build new relationships. We are excited to embark on this opportunity to grow and evolve our business with the new selected sales members joining our team,” said Andrew McGuire, CEO of Agility Forex.

    CXI’s long-term outlook remains positive due to the Company’s focus on its growing businesses in the U.S. in conjunction with expected cost savings and anticipated additional new product growth in the U.S. market. The Company will provide further updates as the Canadian business operations are being discontinued as originally announced on February 18, 2025. During this process, EBC is committed to ensuring minimal disruption to all its stakeholders. 

    CXI is grateful to all of EBC’s team members for their contributions over the years and is committed to providing support and guidance to all employees during this transition to ensure a smooth and respectful process.  

    INFOR Financial Inc. acted as financial advisor to CXI in connection with the referral agreement with Agility Forex.

    About Currency Exchange International, Corp.

    Currency Exchange International is in the business of providing comprehensive foreign exchange technology and processing services for banks, credit unions, businesses, and consumers in the United States and select clients globally. Primary products and services include the exchange of foreign currencies, wire transfer payments, Global EFTs, and foreign cheque clearing. Wholesale customers are served through its proprietary FX software applications delivered on its web-based interface, www.cxifx.com (“CXIFX”), its related APIs with core banking platforms, and through personal relationship managers. Consumers are served through Company-owned retail branches, agent retail branches, and its e-commerce platform, order.ceifx.com.

    The Group’s wholly-owned Canadian subsidiary, Exchange Bank of Canada, based in Toronto, Canada, is currently in the process of discontinuing its operations in Canada.

    About Agility Forex

    Agility Forex is a Vancouver-based fintech company that offers small-to-medium size enterprises and individuals currency pricing normally reserved for large corporations. Their proprietary technology allows them to bypass the banks to access the interbank market and offer transparent pricing with no fees or commissions, 24/7 via their easy-to-use platform. C1 Ventures, a venture capital corporation wholly owned by Central 1, a Canadian financial institution with $11.6 billion in assets, owns 28 percent of Agility Forex.

    Contact Information

    For further information please contact:
    Bill Mitoulas
    Investor Relations
    (416) 479-9547
    Email: bill.mitoulas@cxifx.com
    Website: www.cxifx.com

    CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

    This press release includes forward-looking information within the meaning of applicable securities laws. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management’s expectations with respect to, among other things, the merits of a referral agreement for customers and selected employees, the management of employee and customer transitions, the voluntary cessation of operations and discontinuance of Exchange Bank of Canada (EBC), financial performance in fiscal 2025 and 2026, and the associated costs and outcomes of the cessation and discontinuance period in general. Forward-looking statements are identified by the use of terms and phrases such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “preliminary,” “project,” “will,” “would,” and similar terms and phrases, including references to assumptions. 

    Forward-looking information is based on the opinions and estimates of management at the date such information is provided and on information available to management at such time. Forward-looking information involves significant risks, uncertainties, and assumptions that could cause the Company’s actual results, performance, or achievements to differ materially from the results discussed or implied in such forward-looking information. Actual results may differ materially from results indicated in forward-looking information due to a number of factors including, without limitation, an inability to implement the referral agreement for customers and selected employees on a basis which is beneficial to stakeholders, the inability of the Company to complete the cessation of EBC and discontinuance in accordance with applicable regulatory and legal requirements on a basis which is cost effective and protects the goodwill of the Company, an inability to establish direct correspondent banking relationships to support its U.S. payments business on terms which are economic or at all, the impact of delays or challenges in obtaining regulatory approvals, an inability to manage one-time wind-down costs and severance obligations on cost-effective basis, potential disruptions to operations during the transition period. the risk of reduced liquidity during the transition periods and, generally, the potential for unforeseen liabilities arising during or after the cessation of operations and discontinuance of EBC. 

    Additional risks include the ability of the Company to comply with regulatory requirements in general, the competitive nature of the foreign exchange industry, the impact of geo political changes, and trade wars on factors relevant to the Company’s business, currency exchange risks, the need for the Company to manage its planned growth, the effects of product development and the need for continued technological change, protection of the Company’s proprietary rights, the effect of government regulation and compliance on the Company and the industry in which it operates, network security risks, the ability of the Company to maintain properly working systems, theft and risk of physical harm to personnel, reliance on key management personnel, unexpected losses or challenges associated with customer attrition during the discontinuance, global economic deterioration negatively impacting tourism, volatile securities markets impacting security pricing in a manner unrelated to operating performance and impeding access to capital or increasing the cost of capital, as well as the factors identified throughout this press release and in the section entitled “Financial Risk Factors” of the Company’s Management’s Discussion and Analysis for the twelve months ended October 31, 2024. 

    The forward-looking information contained in this press release represents management’s expectations as of the date hereof (or as of the date such information is otherwise stated to be presented) and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events, or otherwise, except as required under applicable securities laws. 

    The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this press release. No stock exchange, securities commission, or other regulatory authority has approved or disapproved the information contained in this press release. 

    The MIL Network –

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

    Source: GlobeNewswire (MIL-OSI)

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

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

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

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

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

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

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

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

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

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

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    Media Contact

    Company: Hola Prime

    Contact: Media Team

    Email: marketing@holaprime.com

    Website: https://holaprime.com/

    The MIL Network –