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Category: Business

  • MIL-OSI United Kingdom: Getting help with Council Tax and changing the way you pay

    Source: City of Coventry

    Approximately 67 per cent of households in the city pay by Direct Debit, which is the easiest way to pay your Council Tax, especially if you’re worried about forgetting to pay.

    Instead of making the payment directly, Direct Debit means the Council take the amount out of a person’s bank account, when it is due.

    It also means the customer is protected by the Direct Debit Guarantee. If they wish to change the way that they pay and switch to Direct Debit the online instruction is simple to complete.

    For anyone who currently pays their Council Tax in 10 instalments and want to switch to 12, this can be requested by completing this quick form.

    A change of circumstance

    The Council also want people to get in touch if their circumstances have changed by applying to us for a Council Tax Discount.

    Anyone eligible will get a discount on their bill. For example, if just one person is living in the household – where before there was two or more – the bill will be reduced by 25 per cent.

    Also, people who are claiming Universal Credit or other benefits may not automatically receive council tax support, but they can make a claim to ensure they don’t pay more than they need to. Make a claim for council tax support or for more information.

    Cllr Richard Brown, Cabinet Member for Finance, said:

    “It’s important that people contact us if they want to change the way they pay, can’t afford to pay or have a change of circumstances when it comes to paying Council Tax.

    “Most people find it easiest to pay by Direct Debit but if you don’t it is quite easy to switch. Also, I’d encourage anyone who may have a query to get in touch and if anyone is eligible for support with a reduction on their bill they can get help.”

    Anyone who may no longer want to receive a paper copy bill can visit Council Tax – Sign up to paperless billing – Data protection – Coventry City Council

    Wednesday, 19th February 2025

    MIL OSI United Kingdom –

  • MIL-OSI: TransUnion Appoints Tiffani Chambers Chief Operations Officer

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Feb. 19, 2025 (GLOBE NEWSWIRE) — Tiffani Chambers has joined TransUnion (NYSE: TRU) as Executive Vice President and Chief Operations Officer, effective February 19, 2025.

    TransUnion’s Global Operations team serves an important role delivering premium experiences for consumers and customers. Tiffani will oversee activities including consumer relations, customer delivery and relationship management, TransUnion’s Global Capability Center network, procurement and real estate. She will report to TransUnion President and CEO Chris Cartwright and serve on the executive leadership team.

    “Our vision is to make trust possible in global commerce, and our Operations team delivers information services and support every day that help consumers and businesses transact with confidence,” said Cartwright. “Tiffani is a proven leader with highly relevant global operations and financial services experience, and I’m confident she will be a great addition to our team as we work to drive greater innovation and service for the consumers and customers we serve.”

    Chambers joins TransUnion from Bank of America, where she most recently served as chief operating officer to the retail banking division, leading all business management, strategy growth, digital transformation and control functions for the 30,000-person division. Prior to that, she served as chief operating officer for the bank’s global banking and markets, risk, finance and infrastructure technology team. She also served as managing director of global client strategy and operations for the operations division of Goldman Sachs, and previously held leadership roles with JP Morgan Chase, Lehman Brothers and American Express. She earned an MBA from Harvard Business School and a BBA from Emory University, and she serves on the advisory board of the Center for Multicultural and Community Affairs at Mount Sinai Hospital.

    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: Amplify ETFs Changes Fund Name to Highlight 12% Option Income Strategy: Amplify Bloomberg U.S. Treasury 12% Premium Income ETF (TLTP) 

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Feb. 19, 2025 (GLOBE NEWSWIRE) — Amplify ETFs, a leading provider of innovative exchange-traded funds, emphasizes its 12% option income strategy by renaming the TLTP ETF to the Amplify Bloomberg U.S. Treasury 12% Premium Income ETF (formerly Amplify Bloomberg U.S. Treasury Target High Income ETF), effective today. The fund will continue trading under its existing CBOE ticker, TLTP.

    The name change helps investors quickly recognize the fund’s primary strategy to generate 12% annualized option premium income with a monthly scheduled distribution frequency. The fund provides convenient, efficient entry to a tailored weekly U.S. Treasury covered call option strategy via a single ticker and has the potential for additional U.S. Treasury bond income. There are no changes to the fund’s investment strategy, structure or management.

    TLTP seeks to track the performance (before fees and expenses) of the Bloomberg U.S. Treasury 20+ Year 12% Premium Covered Call 2.0 Index, which is designed to provide a targeted annualized option premium income of 12% through writing weekly covered call options. This approach seeks to generate higher levels of income by targeting 12% option premium income as well as the income from underlying U.S. Treasuries.

    For more information about the Amplify Bloomberg U.S. Treasury 12% Premium Income ETF (TLTP), please visit AmplifyETFs.com/TLTP.

    About Amplify ETFs
    Amplify ETFs, sponsored by Amplify Investments, has over $10.6 billion in assets across its suite of ETFs (as of 1/31/2025). Amplify ETFs delivers expanded investment opportunities for investors seeking growth, income, and risk-managed strategies across a range of actively managed and index-based ETFs. To learn more visit AmplifyETFs.com.

    Sales Contact:
    Amplify ETFs
    855-267-3837
    info@amplifyetfs.com    		 Media Contact:
    Gregory FCA for Amplify ETFs
    Kerry Davis
    610-228-2098
    amplifyetfs@gregoryfca.com
       

    *A covered call refers to a financial transaction in which the investor selling call options owns an equivalent amount of the underlying security.

    Carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. This and other information can be found in the Fund’s statutory and summary prospectuses, which may be obtained at AmplifyETFs.com. Read the prospectus carefully before investing.

    Investing involves risk, including the possible loss of principal. You could lose money by investing in the Fund. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. There can be no assurance that the Fund’s investment objectives will be achieved. Interest Rate Risk is the risk when interest rates rise, there is a corresponding decline in bond values. Conversely, very low or negative interest rates may magnify interest rate risk. The Fund is subject to the risks associated with the Underlying Funds specifically U.S. Treasury Securities Risk. The Fund bears its proportionate share of the Underlying ETF’s expenses.

    The Fund is non-diversified and can invest a greater portion of its assets in individual securities than a diversified fund; changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a diversified fund. Covered call risk is the risk that the Fund will forgo, during the option’s life, the opportunity to profit from increases in the market value of the security covering the call option above the sum of the premium and the strike price of the call, but has retained the risk of loss should the price of the underlying security decline. The Fund will also utilize FLEX Options and is subject to the risk that the OCC will be unable or unwilling to perform its obligations under the FLEX Options contracts. The Fund currently expects to make distributions on a regular basis, a portion of which may be considered return of capital.

    Amplify Investments LLC is the Investment Adviser to the Fund, and Samsung Asset Management (New York), Inc. serves as the Investment Sub-Adviser.

    Amplify ETFs are distributed by Foreside Fund Services, LLC.

    The MIL Network –

  • MIL-OSI: Global-e Reports Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    PETAH-TIKVA, Israel, Feb. 19, 2025 (GLOBE NEWSWIRE) — Global-e Online Ltd. (Nasdaq: GLBE) the platform powering global direct-to-consumer e-commerce, today reported financial results for the fourth quarter of 2024 and full year 2024.

    “2024 was yet another record-breaking year for Global-e, and it came to a great close with a fourth quarter which was our strongest quarter ever, as we continued to execute on our strategy and further solidify Global-e’s leadership position in the global e-commerce space,” said Amir Schlachet, Founder and CEO of Global-e. “In addition, we achieved two important financial milestones during the quarter. For the first time in our journey, we crossed the 20% Adjusted EBITDA Margin mark, which was the long-term target we set for ourselves at the IPO, and we reached GAAP profitability for the first time as a public company; a testament to our relentless focus on delivering fast yet durable growth.”

    “As we head into 2025, we remain as committed as ever to continue on our growth path, deliver more cutting-edge and market-leading solutions to our merchants and seize more and more of the great opportunities that lie ahead of us in the world of global e-commerce. In 2025, we also expect to achieve three additional key financial milestones: surpass the 20% Adjusted EBITDA Margin mark on a full year basis, achieve annual GAAP profitability, and most importantly, for the first time, cross an annual run-rate of $1 billion in Revenues.”

    Q4 2024 Financial Results

    • GMV1 in the fourth quarter of 2024 was $1,713 million, an increase of 44% year over year
    • Revenue in the fourth quarter of 2024 was $262.9 million, an increase of 42% year over year, of which service fees revenue was $117.3 million and fulfillment services revenue was $145.6 million
    • Non-GAAP gross profit2 in the fourth quarter of 2024 was $120.9 million, an increase of 53% year over year. GAAP gross profit in the fourth quarter of 2024 was $118.7 million
    • Non-GAAP gross margin2 in the fourth quarter of 2024 was 46%, an increase of 330 basis points from 42.7% in the fourth quarter of 2023. GAAP gross margin in the fourth quarter of 2024 was 45.1%
    • Adjusted EBITDA3 in the fourth quarter of 2024 was $57.1 million compared to $35.2 million in the fourth quarter of 2023, an increase of 62% year over year
    • Net profit in the fourth quarter of 2024 was $1.5 million
    • Net cash provided by operating activities in the fourth quarter of 2024 was $129.3 million, while capital expenditures totaled $0.5 million, leading to free cash flow of $128.8 million

    FY 2024 Financial Results

    • GMV1 for the full year was $4,858 million, an increase of 37% year over year
    • Revenue for the full year was $752.8 million, an increase of 32% year over year, of which service fees revenue was $350.3 million and fulfillment services revenue was $402.5 million
    • Non-GAAP gross profit2 for the full year was $349.4 million, an increase of 43% year over year. GAAP gross profit for the full year was $339.4 million
    • Non-GAAP gross margin2 for the full year was 46.4%, an increase of 350 basis points from 42.9% in 2023. GAAP gross margin for the full year was 45.1%
    • Adjusted EBITDA3 for the full year was $140.8 million compared to $92.7 million in 2023, an increase of 51.8% year over year
    • Net loss for the full year was $75.5 million
    • Net cash provided by operating activities in the full year was $169.4 million, while capital expenditures totaled $2.3 million, leading to free cash flow of $167.1 million

    Recent Business Highlights

    • Throughout 2024, our existing merchant base continued to stay and grow with us, as reflected in our annual enterprise NDR rate of 119% and GDR rate of 93.5%. GDR and NDR were negatively impacted by the out of the ordinary bankruptcy of Ted Baker and by several Borderfree merchants that chose not to re-platform to the Global-e platform. NDR and GDR excluding the out of the ordinary churn for 2024 is close to 123% and 97%, respectively
    • Recently launched with Logitech, one of the world’s largest and most innovative providers of computer peripherals and input devices, gaming accessories, audio and video gear and smart home device
    • On-boarded many additional new merchants located around the globe and trading in various verticals, including:
      • North America – shapewear brand Spanx, Thursday Boots, and the web store of famous fashion designer Tom Ford
      • UK and Europe – Spanish brand Tous, Italian fashion brand Slowear, UK footwear brand Phoebe Philo, German brand IvyOak, Swiss running gear brand Compressport, famous Austrian lingerie brand Triumph, French brands ZAPA and MOLLI, and the Finish brand HURTTA
      • APAC – Japanese brands Komehyo, one of Japan’s largest retailers of second-hand goods, Kyoto-based wristwatch brand Kuoe, novelty brands Mofusand and Taito, and the tailored shirt brand Kamakura Shirts, as well as the renowned Korean cosmetics brand Depology, and Australian fashion brands Zoe Kratzmann and SECONDLEFT
    • Expanded to new lanes with existing merchants – added Romania and Croatia to the markets we operate for Adidas, went live with a new outlet site for John Smedley, and added Strellson, the third brand to go live with us out of the Swiss Holy Fashion Group
    • Shopify Managed Markets – continued joint work with Shopify to add new features and functionalities to the Managed Markets offering, aimed at making it applicable to a wider range of merchants on the Shopify platform

    Q1 2025 and Full Year Outlook

    Global-e is introducing first quarter and full year guidance as follows:

        Q12025   FY 2025
        (in millions)
    GMV(1) $1,210 – $1,250   $6,190 – $6,490
    Revenue $184.5 – $191.5   $917 – $967
    Adjusted EBITDA(3) $29.5 – $33.5   $179 – $199

    1 Gross Merchandise Value (GMV) is a key operating metric. See “Non-GAAP Financial Measures and Key Operating Metrics” for additional information regarding this metric.
    2 Non-GAAP Gross profit and Non-GAAP gross margin are non-GAAP financial measures. See “Non-GAAP Financial Measures and Key Operating Metrics” for additional information regarding this metric.
    3 Adjusted EBITDA is a non-GAAP financial measure. See “Non-GAAP Financial Measures” for additional information regarding this metric, including the reconciliations to Operating Profit (Loss), its most directly comparable GAAP financial measure. The Company is unable to provide a reconciliation of Adjusted EBITDA to Operating Profit (Loss), its most directly comparable GAAP financial measure, on a forward-looking basis without unreasonable effort because items that impact this GAAP financial measure are not within the Company’s control and/or cannot be reasonably predicted. These items may include, but are not limited to, share-based compensation expenses. Such information may have a significant, and potentially unpredictable impact on the Company’s future financial results.

    Conference Call Information

    Global-e will host a conference call at 8:00 a.m. ET on Wednesday, February 19, 2025.
    The call will be available, live, to interested parties by dialing:

    United States/Canada Toll Free:  1-800-717-1738
    International Toll: 1-646-307-1865

    A live webcast will also be available in the Investor Relations section of Global-e’s website at: https://investors.global-e.com/news-events/events-presentations

    Approximately two hours after completion of the live call, an archived version of the webcast will be available on the Investor Relations section of the Company’s web site and will remain available for approximately 30 calendar days.

    Non-GAAP Financial Measures and Key Operating Metrics

    To supplement Global-e’s financial information presented in accordance with generally accepted accounting principles in the United States of America, or GAAP, Global-e considers certain financial measures and key performance metrics that are not prepared in accordance with GAAP including:

    • Non-GAAP gross profit, which Global-e defines as gross profit adjusted for amortization of acquired intangibles. Non-GAAP gross margin is calculated as Non-GAAP gross profit divided by revenues
    • Adjusted EBITDA, which Global-e defines as operating profit (loss) adjusted for stock-based compensation expenses, depreciation and amortization, commercial agreements amortization, amortization of acquired intangibles and merger related contingent consideration.
    • Free cash flow, which Global-e defines as net cash provided by operating activities less purchase of property and equipment.

    Global-e also uses Gross Merchandise Value (GMV) as a key operating metric. Gross Merchandise Value or GMV is defined as the combined amount we collect from the shopper and the merchant for all components of a given transaction, including products, duties and taxes and shipping.

    The aforementioned key performance indicators and non-GAAP financial measures are used, in conjunction with GAAP measures, by management and our board of directors to assess our performance, including the preparation of Global-e’s annual operating budget and quarterly forecasts, for financial and operational decision-making, to evaluate the effectiveness of Global-e’s business strategies, and as a means to evaluate period-to-period comparisons. These measures are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. We believe that these non-GAAP financial measures are appropriate measures of operating performance because they remove the impact of certain items that we believe do not directly reflect our core operations, and permit investors to view performance using the same tools that we use to budget, forecast, make operating and strategic decisions, and evaluate historical performance.

    Global-e’s definition of Non-GAAP measures may differ from the definition used by other companies and therefore comparability may be limited. In addition, other companies may not publish these metrics or similar metrics. Furthermore, these metrics have certain limitations in that they do not include the impact of certain expenses that are reflected in our consolidated statement of operations that are necessary to run our business. Thus, Non-GAAP measures should be considered in addition to, not as substitutes for, or in isolation from, measures prepared in accordance with GAAP.

    For more information on the non-GAAP financial measures, please see the reconciliation tables provided below. The accompanying reconciliation tables have more details on the GAAP financial measures that are most directly comparable to non-GAAP financial measures and the related reconciliations between these financial measures.

    Cautionary Note Regarding Forward Looking Statements

    This press release contains estimates and forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our future strategy and projected revenue, GMV, Adjusted EBITDA and other future financial and operational results, growth strategy and plans and objectives of management for future operations, including, among others, expansion in new and existing markets, the launch of large enterprise merchants, and our ongoing partnership with Shopify, are forward-looking statements. As the words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible” or the negative of these terms or other similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Global-e believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement, including but not limited to, our rapid growth and growth rates in recent periods may not be indicative of future growth; the ability to retain merchants or the GMV generated by such merchants; the ability to retain existing, and attract new merchants; our business acquisitions and ability to effectively integrate acquired businesses; our ability to anticipate merchant needs or develop or acquire new functionality or enhance our existing platforms to meet those needs; our ability to implement and use artificial intelligence and machine learning technologies successfully; our ability to compete in our industry; our reliance on third-parties, including our ability to realize the benefits of any strategic alliances, joint ventures, or partnership arrangements and to integrate our platforms with third-party platforms; our ability to develop or maintain the functionality of our platforms, including real or perceived errors, failures, vulnerabilities, or bugs in our platforms; our history of net losses; our ability to manage our growth and manage expansion into additional markets; increased attention to ESG matters and our ability to manage such matters; our ability to accommodate increased volumes during peak seasons and events; our ability to effectively expand our marketing and sales capabilities; our expectations regarding our revenue, expenses and operations; our ability to operate internationally; our reliance on third-party services, including third-party providers of cross-docking services and third-party data centers, in our platforms and services and harm to our reputation by our merchants’ or third-party service providers’ unethical business practices; our ability to adapt to changes in mobile devices, systems, applications, or web browsers that may degrade the functionality of our platforms; our operation as a merchant of record for sales conducted using our platform; regulatory requirements and additional fees related to payment transactions through our e-commerce platforms could be costly and difficult to comply with; compliance and third-party risks related to anti-money laundering, anti-corruption, anti-bribery, regulations, economic sanctions and export control laws and import regulations and restrictions; our business’s reliance on the personal importation model; our ability to securely store personal information of merchants and shoppers; increases in shipping rates; fluctuations in the exchange rate of foreign currencies has impacted and could continue to impact our results of operations; our ability to offer high quality support; our ability to expand the number of merchants using our platforms and increase our GMV and to enhance our reputation and awareness of our platforms; our dependency on the continued use of the internet for commerce; our ability to adapt to emerging or evolving regulatory developments, changing laws, regulations, standards and technological changes related to privacy, data protection, data security and machine learning technology and generative artificial intelligence evolves; the effect of the situation in Ukraine on our business, financial condition and results of operations; our role in the fulfilment chain of the merchants, which may cause third parties to confuse us with the merchants; our ability to establish and protect intellectual property rights; and our use of open-source software which may pose particular risks to our proprietary software technologies; our dependency on our executive officers and other key employees and our ability to hire and retain skilled key personnel, including our ability to enforce non-compete agreements we enter into with our employees; litigation for a variety of claims which we may be subject to; the adoption by merchants of a direct to consumer model; our anticipated cash needs and our estimates regarding our capital requirements and our needs for additional financing; our ability to maintain our corporate culture; our ability to maintain an effective system of disclosure controls and internal control over financial reporting; our ability to accurately estimate judgments relating to our critical accounting policies; changes in tax laws or regulations to which we are subject, including the enactment of legislation implementing changes in taxation of international business activities and the adoption of other corporate tax reform policies; requirements to collect sales or other taxes relating to the use of our platforms and services in jurisdictions where we have not historically done so; global events such as war, health pandemics, climate change, macroeconomic events and the recent economic slowdown; risks relating to our ordinary shares, including our share price, the concentration of our share ownership with insiders, our status as a foreign private issuer, provisions of Israeli law and our amended and restated articles of association and actions of activist shareholders; risks related to our incorporation and location in Israel, including risks related to the ongoing war and related hostilities; and the other risks and uncertainties described in Global-e’s Annual Report on Form 20-F for the year ended December 31, 2023, filed with the SEC on March 28, 2024 and other documents filed with or furnished by Global-e from time to time with the Securities and Exchange Commission (the “SEC”). The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements.

    About Global-E Online Ltd.

    Global-e (Nasdaq: GLBE) is the world’s leading platform enabling and accelerating global, Direct-To-Consumer e-commerce. The chosen partner of over 1,000 brands and retailers across the United States, EMEA and APAC, Global-e makes selling internationally as simple as selling domestically. The company enables merchants to increase the conversion of international traffic into sales by offering online shoppers in over 200 destinations worldwide a seamless, localized shopping experience. Global-e’s end-to-end e-commerce solutions combine best-in-class localization capabilities, big-data best-practice business intelligence models, streamlined international logistics and vast global e-commerce experience, enabling international shoppers to buy seamlessly online and retailers to sell to, and from, anywhere in the world. For more information, please visit: www.global-e.com.

    Investor Contact:
    Erica Mannion or Mike Funari
    Sapphire Investor Relations, LLC
    IR@global-e.com 
    +1 617-542-6180

    Press Contact:
    Sarah Schloss
    Headline Media
    Globale@headline.media 
    +1 786-233-7684 

    Global-E Online Ltd.
    CONSOLIDATED BALANCE SHEETS
    (In thousands)    		  
        Period Ended  
        December 31,     December 31,  
        2023     2024  
              (Unaudited)  
    Assets                
    Current assets:                
    Cash and cash equivalents   $ 200,081     $ 250,773  
    Short-term deposits     96,939       187,322  
    Accounts receivable, net     27,841       41,171  
    Prepaid expenses and other current assets     63,967       84,613  
    Marketable securities     20,403       36,345  
    Funds receivable, including cash in banks     111,232       122,984  
    Total current assets     520,463       723,208  
    Property and equipment, net     10,236       10,440  
    Operating lease right-of-use assets     23,052       24,429  
    Long term deposits     3,552       3,786  
    Deferred contract acquisition costs, noncurrent     2,668       3,787  
    Other assets, noncurrent     4,078       4,527  
    Commercial agreement asset   192,721       66,527  
    Goodwill     367,566       367,566  
    Intangible assets     78,024       59,212  
    Total long-term assets     681,897       540,274  
    Total assets   $ 1,202,360     $ 1,263,482  
    Liabilities and Shareholders’ Equity                
    Current liabilities:                
    Accounts payable   $ 50,943     $ 79,559  
    Accrued expenses and other current liabilities     107,306       141,551  
    Funds payable to Customers     111,232       122,984  
    Short term operating lease liabilities     4,031       4,347  
    Total current liabilities     273,512       348,441  
    Long-term liabilities:                
    Deferred tax liabilities     6,507       –  
    Long term operating lease liabilities     19,291       20,510  
    Other long-term liabilities     1,071       1,098  
    Total liabilities   $ 300,381     $ 370,049  
                     
    Shareholders’ deficit:                
    Share capital and additional paid-in capital     1,360,250       1,425,317  
    Accumulated comprehensive income     (1,420 )     515  
    Accumulated deficit     (456,851 )     (532,399 )
    Total shareholders’ (deficit) equity     901,979       893,433  
    Total liabilities and shareholders’ equity   $ 1,202,360     $ 1,263,482  
    Global-E Online Ltd.
    CONSOLIDATED STATEMENTS OF OPERATIONS
    (In thousands, except share and per share data)    		  
        Three Months Ended   Year Ended  
        December 31,   December 31,  
        2023     2024     2023       2024  
        (Unaudited)           (Unaudited)  
    Revenue   $ 185,401     $ 262,912     $ 569,946       $ 752,764  
    Cost of revenue     109,080       144,253       336,343         413,331  
    Gross profit     76,321       118,659       233,603         339,433  
                                     
    Operating expenses:                                
    Research and development     25,169       28,284       97,568         105,487  
    Sales and marketing     58,756       70,936       217,035         250,661  
    General and administrative     15,451       14,257       56,059         51,213  
    Total operating expenses, net     99,376       113,477       370,662         407,361  
    Operating profit (loss)     (23,055 )     5,182       (137,059 )       (67,928 )
    Financial expenses (income), net     (5,010 )     6,073       (5,262 )       11,465  
    Loss before income taxes     (18,045 )     (891 )     (131,797 )       (79,393 )
    Income tax (benefit) expenses     4,055       (2,400 )     2,008         (3,845 )
    Net profit (loss) attributable to ordinary shareholders   $ (22,100 )   $ 1,509     $ (133,805 )     $ (75,548 )
    Net profit (loss) per share attributable to ordinary shareholders, basic   $ (0.13 )   $ 0.01     $ (0.81 )     $ (0.45 )
    Net profit (loss) per share attributable to ordinary shareholders, diluted   $ (0.13 )   $ 0.01     $ (0.81 )     $ (0.45 )
    Weighted-average shares used in computing net loss per share attributable to ordinary shareholders, basic     165,626,904       168,419,800       164,353,909         167,323,350  
    Weighted-average shares used in computing net loss per share attributable to ordinary shareholders, diluted     165,626,904       175,674,929       164,353,909         167,323,350  
    Global-E Online Ltd.
    CONSOLIDATED STATEMENTS OF CASH FLOWS
    (In thousands)
        Three Months Ended     Year Ended
        December 31,     December 31,
        2023     2024     2023     2024  
        (Unaudited)             (Unaudited)  
    Operating activities                                
    Net profit (loss)   $ (22,100 )   $ 1,509     $ (133,805 )   $ (75,548 )
    Adjustments to reconcile net profit (loss) to net cash provided by operating activities:                                
    Depreciation and amortization     489       547       1,788       2,131  
    Share-based compensation expenses     12,180       9,538       44,960       39,158  
    Commercial agreement asset     37,433       37,433       150,451       148,594  
    Amortization of intangible assets     5,091       4,402       20,434       18,812  
    Unrealized loss (gain) on foreign currency     (3,011 )     3,554       (1,901 )     4,468  
    Changes in accrued interest and exchange rate on short-term deposits     72       (1,373 )     (416 )     (1,329 )
    Changes in accrued interest and exchange rate on long-term deposits     (144 )     364       (255 )     200  
    Accounts receivable     (14,390 )     15,925       (11,417 )     (13,330 )
    Prepaid expenses and other assets     61       (24,164 )     (11,736 )     (18,019 )
    Funds receivable     (9,038 )     8,726       (11,074 )     (3,205 )
    Long-term receivables     (1,497 )     51       (339 )   551  
    Funds payable to customers     40,817       2,564       33,107       11,752  
    Operating lease ROU assets     786       991       3,230       3,691  
    Deferred contract acquisition costs     (772 )     (322 )     (1,207 )     (1,382 )
    Accounts payable     18,438       37,176       (1,277 )     28,617  
    Accrued expenses and other liabilities     25,345       35,945       30,625       34,272  
    Deferred taxes     3,635       (2,592 )     120       (6,507 )
    Operating lease liabilities     99       (987 )     (3,067 )     (3,533 )
    Net cash provided by operating activities     93,494       129,287       108,222       169,393  
    Investing activities                                
    Investment in marketable securities     (851 )     (18,331 )     (3,728 )     (21,128 )
    Proceeds from marketable securities   –     2,028         671       4,988  
    Investment in short-term deposits     (43,250 )     (77,848 )     (175,237 )     (269,601 )
    Proceeds from short-term deposits     34,318       22,298       125,068       180,548  
    Purchases of long-term investments     (4 )     (307 )     (82 )     (1,459 )
    Proceeds from long-term deposits     10       24       10       24  
    Purchases of property and equipment     (926 )     (482 )     (1,741)       (2,335 )
    Net cash used in investing activities     (10,703 )     (72,618 )     (55,039 )     (108,963 )
    Financing activities                                
    Proceeds from exercise of Warrants to ordinary shares     –     3       22     5  
    Proceeds from exercise of share options     244       1,632       1,969       3,271  
    Net cash provided by financing activities     244       1,635       1,991       3,276  
    Exchange rate differences on balances of cash, cash equivalents and restricted cash     3,011       (3,554 )     1,901       (4,468 )
    Net Increase in cash, cash equivalents, and restricted cash     86,046       54,750       57,075       59,238  
    Cash and cash equivalents and restricted cash—beginning of period     182,551       273,086       211,522       268,597  
    Cash and cash equivalents and restricted cash—end of period   $ 268,597     $ 327,835     $ 268,597     $ 327,835  
    Global-E Online Ltd.
    SELECTED OTHER DATA
    (In thousands)
    		  
        Three Months Ended     Year Ended  
        December 31,     December 31,  
        2023     2024     2023     2024  
        (Unaudited)     (Unaudited)  
    Key performance metrics            
    Gross Merchandise Value     1,189,467               1,712,903               3,557,444               4,857,970          
    Adjusted EBITDA (a)     35,178               57,102               92,735               140,767          
                                                                     
    Revenue by Category                                                                
    Service fees     89,936       49 %     117,268       45 %     262,255       46 %     350,311       47 %
    Fulfillment services     95,465       51 %     145,644       55 %     307,692       54 %     402,453       53 %
    Total revenue   $ 185,401       100 %   $ 262,912       100 %   $ 569,946       100 %   $ 752,764       100 %
                                                                     
    Revenue by merchant outbound region                                                                
    United States     94,887       51 %     146,250       56 %     285,619       50 %     399,596       53 %
    United Kingdom     54,962       30 %     55,807       21 %     173,584       30 %     182,904       24 %
    European Union     29,421       16 %     44,469       17 %     92,566       16 %     125,547       17 %
    Israel     479       0 %     1,671       1 %     1,806       0 %     2,746       0 %
    Other   5,652     3 %     14,715       5 %   16,371     3 %     41,971       6 %
    Total revenue   $ 185,401       100 %   $ 262,912       100 %   $ 569,946       100 %   $ 752,764       100 %

    (a) See reconciliation to adjusted EBITDA table

    Global-E Online Ltd.
    RECONCILIATION TO Non-GAAP GROSS PROFIT
    (In thousands)    		  
        Three Months Ended     Year Ended  
        December 31,     December 31,  
        2023     2024     2023     2024  
      (Unaudited)
    Gross Profit     76,321       118,659       233,603       339,433  
                                     
    Amortization of acquired intangibles included in cost of revenue     2,796       2,198       11,183       9,994  
    Non-GAAP gross profit     79,117       120,857       244,786       349,427  
    Global-E Online Ltd.
    RECONCILIATION TO ADJUSTED EBITDA
    (In thousands)    		  
        Three Months Ended     Year Ended  
        December 31,     December 31,  
        2023     2024     2023     2024    
        (Unaudited)  
    Operating profit (loss)     (23,055 )     5,182       (137,059 )     (67,928 )  
    (1) Stock-based compensation:                                
    Cost of revenue     186       275       639       929    
    Research and development     6,962       4,153       26,266       17,291    
    Selling and marketing     1,238       1,528       4,259       5,836    
    General and administrative     3,794       3,582       13,796       15,102    
    Total stock-based compensation     12,180       9,538       44,960       39,158    
                                     
    (2) Depreciation and amortization     489       547       1,788       2,131    
                                     
    (3) Commercial agreement asset amortization   37,433       37,433     150,451       148,594    
                                 
    (4) Amortization of acquired intangibles   5,091       4,402     20,434       18,812    
                                 
    (5) Merger related contingent consideration   3,040       –     12,161       –    
                                 
    Adjusted EBITDA     35,178       57,102       92,735       140,767    
    Global-E Online Ltd.
    RECONCILIATION TO FREE CASH FLOW
    (In thousands)
        Three Months Ended   Year Ended
        December 31,   December 31,
        2023     2024     2023     2024  
      (Unaudited)
    Net cash provided by operating activities     93,434       129,287       108,222       169,393  
    Less:                          
    Purchase of property and equipment     (926 )     (482 )     (1,741 )     (2,335 )
    Free cash flow     92,508       128,805       106,481       167,058  

    The MIL Network –

  • MIL-OSI: Artificial Intelligence Meets Embedded Development with Microchip’s MPLAB® AI Coding Assistant

    Source: GlobeNewswire (MIL-OSI)

    CHANDLER, Ariz., Feb. 19, 2025 (GLOBE NEWSWIRE) — Microchip Technology (Nasdaq: MCHP) is leveraging the power of Artificial Intelligence (AI) to assist software developers and embedded engineers in writing and debugging code with the launch of its MPLAB® AI Coding Assistant. A Microsoft® Visual Studio® Code (VS Code®) extension, the free tool is based on Continue—the market’s leading open-source AI code assistant—and comes preconfigured with Microchip’s AI chatbot for real-time support.

    The Microchip chatbot enables a chat functionality which allows developers to evaluate and iterate on code directly from the sidebar. This interactive support enhances the coding experience by providing highly customized, relevant real-time assistance and insights on Microchip-specific products with the chatbot being updated on a continuous basis. Additional features include advanced autocomplete for easier coding, an edit feature and error detection for efficient code modifications within the current file and integrated access to searchable Microchip documentation within the IDE.

    “The MPLAB® AI Coding Assistant represents a significant leap forward in software development and will transform how engineers work with Microchip products,” said Rodger Richey, vice president of development systems and academic programs at Microchip. “We’re harnessing the power of AI to provide interactive, real-time support that helps developers create better software, more quickly and with less hassle.”

    Unlike most other code assistants on the market, MPLAB AI Coding Assistant’s sidebar chat feature can deliver block diagrams directly within the VS Code interface rather than just text responses. This capability, combined with easy access to a library of documentation on Microchip microcontrollers and microprocessors streamlines the coding process and helps enhance accuracy.

    Visit the website to learn more about Microchip’s wide range of development tools.

    Pricing and Availability
    The MPLAB AI Coding Assistant is available for free; some advanced features may require a subscription license. For additional information contact a Microchip sales representative, authorized worldwide distributor or visit Microchip’s Purchasing and Client Services website, www.microchipdirect.com. To learn more, a Microchip development systems representative will be onsite during Embedded World (March 11-13, 2025) to answer questions and discuss tool details.

    Resources
    High-res images available through Flickr or editorial contact (feel free to publish):

    About Microchip Technology:
    Microchip Technology Inc. is a leading provider of smart, connected and secure embedded control and processing solutions. Its easy-to-use development tools and comprehensive product portfolio enable customers to create optimal designs which reduce risk while lowering total system cost and time to market. The company’s solutions serve over 100,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at www.microchip.com.

    Note: The Microchip name and logo, the Microchip logo and MPLAB are registered trademarks of Microchip Technology Incorporated in the U.S.A. and other countries. All other trademarks mentioned herein are the property of their respective companies.

    The MIL Network –

  • MIL-OSI Russia: “The Most Comfortable Introduction to the Specialty”: Marketing Course from HSE

    Translartion. Region: Russians Fedetion –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    On March 10, HSE will launch an online course in strategic marketing and advertising, thanks to which students will be able to become “their own” in the professional community. Over six months of live and comfortable training, students will master the basic competencies and advanced skills necessary for an Internet marketer, and learn what is needed to prepare, launch and run marketing campaigns. What makes the program unique and why it is worth joining was explained by a professor at HSE in Nizhny Novgorod, head of the professional retraining program “Basic Marketing Course» Mikhail Shushkin.

    — Who is the HSE Basic Marketing Course intended for?

    — Firstly, for those who want to master a new profession of a marketer. Graduates of the program will be able to work both in agencies and in companies of various industries: banks, manufacturing, construction industry, retail, marketplaces, media projects, medicine, IT, tourism, restaurants and hotels. Marketers are needed everywhere.

    Secondly, for those who already work in the advertising industry and want to increase their value in the labor market or improve their knowledge of new marketing trends.

    HSE diplomas are highly valued by employers. This is because we provide only relevant tools. We are practitioners, we are inside the marketing industry, where everything changes every month. Therefore, we have the latest expertise and work with the newest tools.

    Thirdly, the course will be useful for small and medium business owners. Almost every business faces the problem of attracting new customers and retaining existing ones. Therefore, entrepreneurs inevitably interact with marketing. It is quite difficult to understand it on your own, and transferring all marketing tasks to one agency is not always effective. The marketing industry is quite complex, and the cost of advertising is constantly growing. In order to develop an effective marketing strategy and competently select contractors for various types of work, knowledge in the field of marketing is necessary.

    — What are the features of the program?

    — The program is implemented online in the form of live classes with teachers. This means a lot of interaction, feedback, case discussions, debates and practical blocks. 60% of the classes are practice.

    The distance format has a number of advantages. For example, your group can include students from different cities and countries. I will give an example from one of the classes. Classes start at 18:00 Moscow time. The teacher and students connect in advance, 10 minutes before the start. There is time to chat a little about life and marketing news. Ivan logs into the system and suggests watching the sunrise. Ivan is now in Los Angeles, he is a jazz musician. At this moment, Ekaterina shows the sunset in Kaliningrad. The “city game” begins: Beijing, Tashkent, Novosibirsk, Irkutsk, Yekaterinburg, Kazan, Nizhny Novgorod, Moscow, St. Petersburg, Belgrade, Madrid…

    — What industries do the program’s listeners come from?

    — Among them are employees of Gazprom, Baltika, LUKOIL, Magnit, X5, Dodo Pizza, Channel One, as well as theaters, universities (for example, Moscow State University), restaurants and cafes, IT businesses, startups and musical groups. Their basic education does not matter. Among our students are drilling rig operators in the Far North, sailors from the Far East, restaurant waiters in New Moscow, theater actors on Arbat and contextual advertising specialists in Moscow City. They are all united by an interest in marketing.

    Some people need marketing to build a career in their company, others – to develop their own business projects, and still others – to enter a new, highly paid and interesting profession.

    — Can a person without knowledge enter and successfully master the program?

    — Definitely yes! Often complex terms mean simple things. Working in classifieds, digital PR, retail media, analytical tools, castdev, building a customer journey map, digital advertising algorithms, SMM, brand pyramid, media plan, sales funnels, conversion, marketing metrics — all this is not as difficult as it seems. It sounds serious, but believe me, these are logical and easy-to-understand tools. Their competent use helps to develop your own business or improve the efficiency of the current one.

    The “language of marketers” is a separate topic altogether – it has become the subject of many memes and jokes. It seems that marketers deliberately use professional slang to create a closed club, like in youth culture. But in fact, these are convenient and standardized terms that help specialists from different cities and countries easily understand each other.

    — Who teaches the classes?

    — The next stream will be taught by marketers from companies such as MTS Ads, e-Promo, Dodo Pizza, Sber, and the NORMA agency. Among them are experts implementing marketing projects for LUKOIL, Mega shopping centers, Rostelecom, Alfa-Bank, and other companies.

    All teachers are active practitioners in their fields: marketing research, digital advertising, customer service, PR, branding, creation and implementation of advertising concepts and communication strategies.

    — What is the atmosphere like in the classes?

    — The atmosphere in the classes is comfortable, friendly, I would even say family-like. The teachers are deeply versed in their disciplines, as they are practitioners.

    Students do not feel pressure from teachers and classmates. The principle of the program is the most comfortable introduction to the specialty. Classmates and teachers are always ready to help and support each other.

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

    MIL OSI Russia News –

  • MIL-OSI China: China to cut gasoline, diesel retail prices on Thursday

    Source: China State Council Information Office

    China will reduce the retail prices of gasoline and diesel on Thursday, the first such move this year, based on recent changes in international oil prices, the country’s top economic planner said on Wednesday.

    Gasoline prices will be slashed by 170 yuan (about 23.71 U.S. dollars) per tonne and diesel prices by 160 yuan per tonne, the National Development and Reform Commission (NDRC) revealed.

    China’s three biggest oil companies — China National Petroleum Corporation, China Petrochemical Corporation and China National Offshore Oil Corporation — as well as oil refineries, have been directed to maintain oil production and facilitate transportation to ensure stable supplies.

    Under the current pricing mechanism, prices of refined oil products are adjusted in accordance with changes in international crude oil prices.

    Relevant departments in various regions should intensify market supervision and inspection efforts, and implement strict measures to crack down on activities which violate national price policies to ensure market order, the NDRC said. 

    MIL OSI China News –

  • MIL-OSI: NNIT A/S: Notice convening the annual general meeting for NNIT A/S

    Source: GlobeNewswire (MIL-OSI)

    The Board of Directors gives notice of the annual general meeting for NNIT A/S, company registration (CVR) no. 21 09 31 06 (the “Company”), to be held Thursday, March 13, 2025, 2:00 pm (CET) at Novo Holdings A/S, Tuborg Havnevej 19, DK-2900 Hellerup.

    The general meeting will for shareholders be webcasted live on the Company’s investor portal. It is not possible to vote or ask questions via webcast.

    The notice for the annual general meeting, including Appendix A: Candidates for (re-)election to the Board of Directors, is attached.

    For more information, please contact:

    Investor Relations
    Carsten Ringius
    EVP & CFO
    Tel: +45 3077 8888
    carr@nnit.com 

    Media Relations
    Sofie Mand Steffens
    Senior Communications Consultant
    Tel: +45 3077 8337
    smst@nnit.com 

    ABOUT NNIT

    NNIT is a leading provider of IT solutions to life sciences internationally, and to the public and private sectors in Denmark.

    We focus on high complexity industries and thrive in environments where regulatory demands and complexity are high.

    We advise on and build sustainable digital solutions that work for the patients, citizens, employees, end users or customers.

    We strive to build unmatched excellence in the industries we serve, and we use our domain expertise to represent a business first approach – strongly supported by a selection of partner technologies, but always driven by business needs rather than technology.

    NNIT consists of group company NNIT A/S, subsidiaries in Region Europe, Asia and US and subsidiary SCALES in Region Denmark. Together, these companies employ more than 1,700 people in Europe, Asia and USA.

    Attachments

    The MIL Network –

  • MIL-OSI: DT Midstream Sets 2025 Annual Meeting Date

    Source: GlobeNewswire (MIL-OSI)

    DETROIT, Feb. 19, 2025 (GLOBE NEWSWIRE) — DT Midstream, Inc. (NYSE: DTM) announced that its 2025 Annual Meeting of Stockholders will be Tuesday, May 6. Stockholders of record at the close of business Wednesday, March 12, 2025, are eligible to vote at the meeting.

    About DT Midstream

    DT Midstream (NYSE: DTM) is an owner, operator and developer of natural gas interstate and intrastate pipelines, storage and gathering systems, compression, treatment and surface facilities. The company transports clean natural gas for utilities, power plants, marketers, large industrial customers and energy producers across the Southern, Northeastern and Midwestern United States and Canada. The Detroit-based company offers a comprehensive, wellhead-to-market array of services, including natural gas transportation, storage and gathering. DT Midstream is transitioning towards net zero greenhouse gas emissions by 2050, including a plan of achieving 30% of its carbon emissions reduction by 2030. For more information, please visit the DT Midstream website at www.dtmidstream.com.

    The MIL Network –

  • MIL-OSI Video: The Minister of Finance, Mr Enoch Godongwana, delivers the 2025 Budget Speech

    Source: Republic of South Africa (video statements)

    The Minister of Finance, Mr Enoch Godongwana, delivers the 2025 Budget Speech

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

    MIL OSI Video –

  • MIL-OSI United Kingdom: Sellafield security improvements praised by regulator

    Source: United Kingdom – Executive Government & Departments

    Improvements in physical security arrangements at Sellafield have been recognised by the UK’s nuclear regulator.

    The Office for Nuclear Regulation (ONR) has returned the Sellafield site to a routine regulatory regime for physical security after a period of enhanced oversight.

    Inspectors cited a sustained period of improved performance, highlighting the close working relationship between ONR inspectors and Sellafield Ltd in achieving this outcome.

    Physical security at Sellafield is delivered using a wide range of assets and capabilities and through an approach that includes defence in depth and armed response.  A number of physical security assets and capabilities have been improved as part of the return to routine regulatory attention.

    Regulatory attention levels are set by ONR and are assigned based on the regulator’s assessment of overall performance, considering a broad range of safety and security considerations and operational issues that a site is addressing.

    Gary Wilkinson, head of security and resilience at Sellafield Ltd, said:

    Following an action plan over many months, we have successfully met all the requirements set by ONR. 

    This is a significant achievement and has been a big team effort from across the company – thank you to everyone involved in this important achievement.

    Paul Dicks, ONR’s director of regulation for Sellafield, decommissioning fuel and waste, said:

    We have worked closely with Sellafield Ltd through our enabling approach to ensure that the required improvements are delivered.

    I’m satisfied that Sellafield Ltd has demonstrated significant and sustained security improvements which has allowed us to return them to routine regulatory attention.

    Sellafield Ltd currently remains in significantly enhanced attention for cyber security and collaborative work is ongoing to achieve the required improvements in this area.

    Home | Office for Nuclear Regulation

    Updates to this page

    Published 19 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI United Kingdom: Four-year ban for director of Sussex nuisance cold-calls firm 

    Source: United Kingdom – Executive Government & Departments

    The company made almost a million unsolicited cold-calls, resulting in people complaining to the Information Commissioner’s Office

    • Callum Jones was the director of a company which harassed people with nuisance cold-calls in 2019 and 2020 
    • Colourcoat Ltd, based on the south coast, made almost a million calls trying to sell home improvements within an eight-month period 
    • Jones has now been disqualified as a company director following investigations by the Insolvency Service 

    The boss of a home improvement company which made more than 900,000 cold-calls has been banned as a director for four years. 

    Callum Jones was the sole director of Sussex-based Colourcoat Ltd, which specialised in roof cleaning, wall coating and insulation services. 

    Colourcoat made 969,273 unsolicited marketing calls which connected between August 2019 and April 2020, with almost half to people who had opted out of receiving such calls. 

    The company also used false names and made repeated calls which were described by some customers as being aggressive and abusive. 

    Colourcoat was fined £130,000 by the Information Commissioner’s Office (ICO) in 2021 but went into liquidation without paying the fine in full. 

    Jones, 39, of Oban Road, St Leonards-on-Sea, has now been disqualified as a company director following investigations by the Insolvency Service. 

    Victoria Edgar, Chief Investigator at the Insolvency Service, said: 

    Callum Jones allowed his company to plague households over an eight-month period, making hundreds of thousands of nuisance cold-calls. 

    Businesses employing such unscrupulous tactics can expect enforcement action to be taken against them and Jones’s director ban now means he cannot run or manage any company for the next four years.

    A total of 452,811 of the nuisance calls were made to people who had opted out of receiving such calls by registering with the Telephone Preference Service. 

    Colourcoat also used various fake company names including “Homes Advice Bureau”, “EcoSolve UK” and “Citizens Advice”. 

    Twenty-four complaints about the company were made to the Telephone Preference Service with a further 10 directly to the ICO. 

    Andy Curry, Director of Enforcement and Investigations at the ICO, said:  

    We welcome the decision to disqualify Callum Jones as the director of Colourcoat Ltd.  

    Nobody should be made to feel uncomfortable after simply answering the phone, and our investigation found that this company had no regard for the law, or the people they were illegally calling.  

    Our Financial Recovery Unit works closely with the Insolvency Service to bring companies and directors to account. By disrupting the non-compliant activities of directors such as Callum Jones, we can help ensure they can’t easily resurface under a different name and continue to cause further harm to people.

    The ICO issued an enforcement notice to Colourcoat in June 2021 for breaching regulations 21 and 24 of the Privacy and Electronic Communications Regulations 2003 relating to the use of calls for direct marketing purposes. 

    Colourcoat went into liquidation in June 2023, having only paid just more than £74,000 of its £130,000 fine. 

    The Secretary of State for Business and Trade accepted a disqualification undertaking from Jones, and his ban started on Monday 3 February. 

    The undertaking prevents him from being involved in the promotion, formation or management of a company, without the permission of the court.  

    Further information

    Updates to this page

    Published 19 February 2025

    MIL OSI United Kingdom –

  • MIL-OSI: Hyperscale Data Subsidiary Reaches Agreement in Principle with Key Utility to Expand Michigan Data Center to 300 Megawatts, which Would Allow the Company to Advance its AI Infrastructure Growth

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, Feb. 19, 2025 (GLOBE NEWSWIRE) — Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), today announced that its indirect, wholly owned subsidiary Alliance Cloud Services, LLC (“ACS”) has reached an agreement in principle with the local utility expected to energize ACS’ Michigan data center (the “Data Center”), enabling ACS to increase its power capacity from approximately 30 megawatts (“MW”) to 300 MW. The completion of the power upgrade is anticipated to take 44 months from execution of a formal Letter of Authorization (the “LOA”) between ACS and the utility, which is currently being negotiated.

    The expansion of the Data Center to 300 MW will be a critical long-term milestone, which would enable ACS to increase its expansion efforts and further support the rapidly growing demand for high-performance computing (“HPC”) services powering artificial intelligence (“AI”) infrastructure. Hyperscale Data is simultaneously proceeding with the transition of the Data Center’s existing power capacity of 30MW from that of self-mining of Bitcoin to HPC services. As a part of negotiating the LOA, Hyperscale Data anticipates discussing potential approaches that could provide incremental power while the full buildout project is underway. Hyperscale Data is currently in the process of deploying the network, electrical and cooling systems for its first HPC environment. As Hyperscale Data moves forward in the coming months with both its short-term transition to HPC services and its power upgrade expansion process it will provide ongoing updates to its stockholders and the public as developments warrant.

    Milton “Todd” Ault III, Executive Chairman of Hyperscale Data, commented, “We are pleased to have finally reached an agreement in principle with the local utility and look forward to executing a definitive agreement with it. This would be a game-changer for our business and the future of our AI infrastructure. Scaling our Data Center to 300 MW would significantly enhance our ability to meet surging demand from AI and high-performance computing customers. It also marks a major step forward in our transformation into a pure-play data center operator. We are committed to building a world-class facility that powers the next generation of technology, and this anticipated expansion is a significant step forward to meeting that objective.”

    The completion of the power upgrade is subject to a number of risks and uncertainties, one or more which could result in the project being terminated, including, but not limited to: failure to agree upon terms and execute a definitive agreement; the inability of ACS or the Company to raise sufficient funds to pay for the power upgrades; failure to obtain regulatory consents and approvals; the inability to obtain sufficient easements, rights-of-way and land rights necessary to the work to be performed, and other presently unforeseen events or conditions.

    Additional information regarding the material terms of the LOA will be included in a Current Report on Form 8-K to be filed with the United States Securities and Exchange Commission (“SEC”).

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

    For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

    About Hyperscale Data, Inc.

    Hyperscale Data is transitioning from a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact to becoming solely an owner and operator of data centers to support high performance computing services. Through its wholly and majority-owned subsidiaries and strategic investments, Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries. It also provides, through its wholly owned subsidiary, Ault Capital Group, Inc., mission-critical products that support a diverse range of industries, including an artificial intelligence software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, Hyperscale Data is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

    Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.hyperscaledata.com.

    Hyperscale Data Investor Contact:
    IR@hyperscaledata.com or 1-888-753-2235

    The MIL Network –

  • MIL-OSI Europe: Federal Council adopts dispatch on extending international automatic exchange of information in tax matters

    Source: Switzerland – Department of Finance

    During its meeting on 19 February 2025, the Federal Council submitted to Parliament the dispatch on extending the international automatic exchange of information in tax matters (AEOI). Set to apply from 1 January 2026, the extension concerns the new AEOI concerning cryptoassets and the amendment of the standard for the automatic exchange of financial account information.

    MIL OSI Europe News –

  • MIL-OSI: WTW and Cornell University partner to predict drought and prepare for water scarcity

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Feb. 19, 2025 (GLOBE NEWSWIRE) — WTW (NASDAQ: WTW), a leading global advisory, broking, and solutions company, announced today a new scientific partnership with Cornell University to quantify the risks of severe and sustained drought worldwide. This collaboration will provide an in-depth view of global exposure to drought risks and the potential effects of water shortages on business operations.

    Around two-thirds of the global population live in places that encounter water stress for at least part of the year. When water supplies are further diminished by drought, many communities experience reduced agricultural yield, energy production, and slower economic growth. The adverse effects of drought are more serious in low-income and middle-income countries and are particularly disruptive to agriculture-dominated areas of the developing world.

    Climate change has already increased drought risks in many regions, but unfortunately even the latest generation of climate models still underestimate the potential severity, duration, and correlation of future droughts. Under this new initiative, WTW and Cornell University will collaborate to identify geographical ‘hotspots’ for climate-amplified drought, produce more accurate estimates of drought risk, and create new tools and datasets to anticipate single and multi-year drought. At Cornell, the research is supported by the Atkinson Center for Sustainability and led by Prof. Toby Ault, a leading global expert in future drought under climate change.

    Scott St. George, Head of Weather & Climate Research for the WTW Research Network, said, “Water is essential to all industries, so no one can afford to have drought take them by surprise. We know climate change has already supercharged droughts in some places — witness the ongoing drought in the American Southwest, now in its third decade. Prof. Ault and his team at Cornell will provide us with a clear view of the real risk of drought and water scarcity. Those insights are absolutely critical for our clients’ operations and planning in water-dependent sectors such as food and beverage, energy producers, and waterborne transport.”

    “We’re excited to work with WTW to translate cutting-edge climate science into actionable insights for the insurance industry,” said Prof. Toby Ault, Associate Professor in the Department of Earth and Atmospheric Sciences at Cornell University. “Our research has shown that traditional climate models often underestimate the risk of severe, prolonged droughts, particularly in regions already facing water stress. By combining our expertise in drought modeling with WTW’s industry knowledge, we can better prepare for the complex drought risks of the future.”

    About Cornell University
    Cornell University is an Ivy League and statutory land-grant research university located in Ithaca, New York. Founded in 1865, Cornell is consistently ranked among the world’s leading academic institutions, with strengths in atmospheric sciences, engineering, and environmental research. The university’s Department of Earth and Atmospheric Sciences is internationally recognized for its leadership work in climate science, drought research, and applied climatology.

    About WTW

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

    Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you. Learn more at wtwco.com.

    Media Contacts

    Sarah Booker
    Sarah.Booker@wtwco.com
    +44 20 3124 7671

    The MIL Network –

  • MIL-OSI: YieldMax™ ETFs Announces Distributions on CRSH (75.93%), TSLY (62.77%), YBIT (60.33%), YMAX (56.92%), YMAG (39.10%) and Others

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO and MILWAUKEE and NEW YORK, Feb. 19, 2025 (GLOBE NEWSWIRE) — YieldMax™ today announced distributions for the YieldMax™ Weekly Payers and Group A ETFs listed in the table below.

    ETF Ticker1 ETF Name Distribution Frequency Distribution per share Distribution Rate2,4 30-Day
    SEC Yield3    		 ROC5 Ex-Date & Record Date Payment Date
    QDTY* YieldMax™ Nasdaq 100 0DTE Covered Call ETF Weekly – – – – – –
    SDTY YieldMax™ S&P 500 0DTE Covered Call ETF Weekly $0.2221 – – 100.00% 2/20/25 2/21/25
    GPTY YieldMax™ AI & Tech Portfolio Option Income ETF Weekly $0.3258 – – 100.00% 2/20/25 2/21/25
    LFGY YieldMax™ Crypto Industry
    & Tech Portfolio Option Income ETF    		 Weekly $0.5739 – – 58.86% 2/20/25 2/21/25
    YMAX YieldMax™ Universe
    Fund of Option Income ETFs    		 Weekly $0.1852 56.92% 77.11% 72.51% 2/20/25 2/21/25
    YMAG YieldMax™ Magnificent 7
    Fund of Option Income ETFs    		 Weekly $0.1369 39.10% 56.75% 39.02% 2/20/25 2/21/25
    TSLY YieldMax™ TSLA Option Income Strategy ETF Every 4 weeks $0.5793 62.77% 3.18% 93.03% 2/20/25 2/21/25
    CRSH YieldMax™ Short TSLA Option Income Strategy ETF Every 4 weeks $0.3810 75.93% 4.07% 12.68% 2/20/25 2/21/25
    GOOY YieldMax™ GOOGL Option Income Strategy ETF Every 4 weeks $0.3877 35.28% 3.33% 0.00% 2/20/25 2/21/25
    YBIT YieldMax™ Bitcoin Option Income Strategy ETF Every 4 weeks $0.5506 60.33% 1.36% 0.00% 2/20/25 2/21/25
    OARK YieldMax™ Innovation Option Income Strategy ETF Every 4 weeks $0.4269 50.34% 2.58% 93.84% 2/20/25 2/21/25
    XOMO YieldMax™ XOM Option Income Strategy ETF Every 4 weeks $0.2541 22.58% 3.58% 0.00% 2/20/25 2/21/25
    SNOY YieldMax™ SNOW Option Income Strategy ETF Every 4 weeks $0.9210 58.84% 2.58% 89.86% 2/20/25 2/21/25
    TSMY YieldMax™ TSM Option Income Strategy ETF Every 4 weeks $0.6019 42.89% 3.12% 47.33% 2/20/25 2/21/25
    FEAT YieldMax™ Dorsey Wright Featured 5 Income ETF Every 4 weeks $1.9096 53.80% 102.37% 0.00% 2/20/25 2/21/25
    FIVY YieldMax™ Dorsey Wright Hybrid 5 Income ETF Every 4 weeks $1.1203 31.12% 55.88% 0.00% 2/20/25 2/21/25
    Weekly Payers & Group B ETFs scheduled for next week: QDTY SDTY GPTY LFGY YMAX YMAG NVDY DIPS FBY GDXY BABO JPMO MRNY PLTY MARO


    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 and YQQQ 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).

    *The inception date for QDTY is February 12, 2025.

    1All 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 of 1.24% but the investment adviser has agreed to a 0.10% fee waiver through at least February 28, 2025.

    2The Distribution Rate shown is as of close on February 18, 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 January 31, 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.

    5ROC 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.

    Important Information

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

    Contact Gavin Filmore at gfilmore@tidalfg.com for more information.

    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 (applicable to all YieldMax ETFs referenced above, except the Short ETFs)

    YMAX, YMAG, FEAT and FIVY generally invest in other YieldMax™ ETFs. As such, these two Funds are subject to the risks listed in this section, which apply to all the YieldMax™ ETFs they may hold from time to time.

    Investing involves risk. Principal loss is possible.

    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 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 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.

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

    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.

    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.

    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.

    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), 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, YieldMax™ ETFs.

    © 2025 YieldMax™ ETFs

    The MIL Network –

  • MIL-OSI United Kingdom: Additional funding for Council’s digital inclusion programme.

    Source: City of Coventry

    Coventry City Council’s efforts to promote digital inclusion across the city have received a major funding boost.

    The Council’s digital inclusion programme, #CovConnects, has received £340,000 to support its ongoing work within in the city.

    The funding, which comes from the Government’s UK Shared Prosperity Fund and the West Midlands Combined Authority, will help the team secure 1250 Mi-Fi units which will be distributed through the programme’s #CovConnects Device Bank.

    Mi-fi units are small, portable devices which allow people to use 4g/5g units to connect to the internet. Each of the units comes with 2 years’ worth of unlimited data enabling residents to connect to the digital world. The mi-fi devices and sim cards have been provided thanks to the Council’s ongoing partnership with Vodafone.

    The Device Bank launched in July 2023 and has distributed over 3850 devices to organisations across the city. These devices are used by these groups to help support residents in their everyday lives allowing the most vulnerable in the city to complete everyday task such as online banking, filling our job applications and accessing vital NHS services.

    Cllr Richard Brown, Cabinet Member for Strategic Finance and Resources, said: “As an organisation, we’re committed to ensuring that as many residents as possible can access the digital world. This funding will help us do just that.

    “It will allow us to expand our efforts and get more of these devices into the hands of those who need it most. Having your own device, which you can use every day, is something that has the potential to completely transform your life. “

    Richard Parker, the Mayor of the West Midlands, said: “So much in life is reliant on us being online, whether that’s finding a job, booking a GP appointment, or managing finances. Too many people are still locked out of opportunities because they don’t have reliable internet or the right digital skills and this can be isolating. It’s why I want more people to have the digital access they need to get on in life. This scheme is a step towards breaking down those barriers, helping more people access the services, support, and training they need to build a better future.”

    The #CovConnects Device Bank is part funded by the UK Government through the UK Shared Prosperity Fund.

    To find out more about the device bank and applying for devices for your organisation, visit: #CovConnects Device Bank – Coventry City Council 

    The UK Shared Prosperity Fund aims to improve pride in place and increase life chances across the UK investing in communities and place, supporting local business, and people and skills. Please visit the UK Shared Prosperity Fund webpage for more information 

    Get in touch with us to find out more about the digital inclusion programme in Coventry, devices, data and skills provisions we can help with: covconnectsdigital@coventry.gov.uk 

    MIL OSI United Kingdom –

  • MIL-OSI: SINTX Receives Issuance of U.S. Patent for Silicon Nitride-Functionalized Zirconia-Toughened Alumina Ceramic Biomaterial

    Source: GlobeNewswire (MIL-OSI)

    Salt Lake City, Utah, Feb. 19, 2025 (GLOBE NEWSWIRE) — SINTX Technologies, Inc. (NASDAQ: SINT) (“SINTX” or the “Company”) an advanced ceramics company specializing in the development and commercialization of materials, components, and technologies for medical and technical applications, today announced the issuance of U.S. Patent No. 12,239,761 by the United States Patent and Trademark Office (USPTO).

    This newly issued patent strengthens SINTX’s intellectual property portfolio, further solidifying its position as a global leader in silicon nitride innovation. The patent covers novel advancements in silicon nitride material processing and applications, particularly in the biomedical sector, where the company continues to make significant strides in next-generation implant technology.

    “This patent represents another key milestone in SINTX’s ongoing commitment to pioneering advanced silicon nitride solutions,” said Eric K. Olson, President and CEO of SINTX. “With its antiviral, antibacterial, and biomechanical advantages, silicon nitride continues to demonstrate its potential in medical implants, regenerative medicine, and advanced coating technologies. This latest patent reinforces our leadership in the field and strengthens our ability to develop high-performance biomedical applications.”

    The patent, developed by the Company covers innovative methods of adhering silicon nitride to a wide array of biomaterial substrates to improve biocompatibility and resistance to infection, expanding its potential applications to orthopedic, craniomaxillofacial, dental and spinal implants. This scientific breakthrough aligns with SINTX’s broader mission to leverage its proprietary technology to improve patient outcomes and surgical success rates.

    SINTX is the only FDA-registered producer of implantable silicon nitride, with a robust portfolio that includes monolithic ceramic implants, particulate-based coatings, microspheres and composite materials. These innovations are aimed at enhancing osseointegration and reducing bacterial colonization, key factors in improving implant longevity and patient safety.

    With this issuance, SINTX continues to expand its intellectual property portfolio, which now includes 17 issued U.S. patents and 84 pending applications worldwide.

    For more information about SINTX Technologies and its silicon nitride platform, visit www.sintx.com.

    About SINTX Technologies, Inc.

    SINTX Technologies is an advanced ceramics company that develops and commercializes materials, components, and technologies for medical and technical applications. SINTX is a global leader in the research, development, and manufacturing of silicon nitride, and its products have been implanted in humans since 2008. Over the past several years, SINTX has utilized strategic acquisitions and alliances to enter into new markets. The Company has manufacturing and R&D facilities in Utah and Maryland.

    For more information on SINTX Technologies or its materials platform, visit www.sintx.com.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”) that are subject to a number of risks and uncertainties. Forward-looking statements can be identified by words such as: “anticipate,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Examples of forward-looking statements include, among others, statements we make that the company continues to make significant strides in next-generation implant technology and the potential to pursue growth opportunities and explore strategic opportunities.

    Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date on which they are made and reflect management’s current estimates, projections, expectations and beliefs. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, technical feasibility and product development. A discussion of other risks and uncertainties that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements can be found in SINTX’s Risk Factors disclosure in its Annual Report on Form 10-K, filed with the SEC on March 27, 2024, and in SINTX’s other filings with the SEC. SINTX undertakes no obligation to publicly revise or update the forward-looking statements to reflect events or circumstances that arise after the date of this report, except as required by law.

    Business and Media Inquiries for SINTX:
    SINTX Technologies
    801.839.3502
    IR@sintx.com

    The MIL Network –

  • MIL-OSI: Mimecast Welcomes Adenike Cosgrove as Chief Marketing Officer

    Source: GlobeNewswire (MIL-OSI)

    LEXINGTON, Mass., Feb. 19, 2025 (GLOBE NEWSWIRE) — Mimecast, a global cybersecurity leader transforming the way businesses manage and mitigate human risk, announced today the appointment of Adenike (Nikki) Cosgrove as Chief Marketing Officer.

    Drawing on more than twenty years of cybersecurity experience, Nikki will lead Mimecast’s global marketing organization driving strategic growth and positioning in new and existing markets to further establish Mimecast as the clear industry leader in Human Risk Management.

    Nikki brings a wealth of expertise to Mimecast. She joins the organization from Proofpoint (following their 2016 acquisition of Return Path Email Fraud Protection), where she spent more than nine years, most recently as regional CMO for EMEA, leading product and strategic marketing operations.

    An accomplished cybersecurity executive, Nikki’s expertise spans the spectrum of product and business strategy including growth marketing, strategic communications, analyst relations, and competitive intelligence. Prior to Proofpoint, Nikki worked as lead EMEA advisor to security and risk professionals for Forrester Research and Canalys, where she developed a deep understanding of CISO challenges and helped clients with their information and cybersecurity strategies.

    “Nikki’s expertise in our sector, coupled with her strategic leadership, business acumen and marketing pedigree, perfectly positions her to lead Mimecast’s marketing organization as we cement our reputation as industry leader in Human Risk Management,” said CEO, Marc van Zadelhoff. “The last year at Mimecast has been marked by innovation and strategic growth, including three industry-shaping acquisitions and global expansion. Nikki is joining us at an incredibly exciting time for the business and will play a key role in how we take this momentum forward across our global markets.”

    Nikki holds a Bachelor of Engineering degree from the University of Hull and a Master of Research, Telecommunications, from University College London. Nikki has lived in Japan, Hong Kong, Zimbabwe, and Nigeria, and currently resides in London.

    “As the threat landscape evolves and cybercriminals increasingly target individuals, securing human risk has never been more critical,” said Nikki Cosgrove. “I’m excited to step into the role of Chief Marketing Officer and apply my experience to accelerate Mimecast’s momentum, strengthen our market leadership, and drive strategies that deliver even greater value to our customers worldwide.”

    To learn more about Mimecast visit here.

    About Mimecast

    Mimecast is a leading cybersecurity company transforming the way businesses manage and mitigate human risk. Its AI-powered, API-enabled connected Human Risk Management platform is purpose-built to protect organizations from the spectrum of cyber threats. Integrating cutting-edge technology with human-centric pathways, our platform enhances visibility and provides strategic insight that enables decisive action and empowers businesses to protect their collaborative environments, safeguard their critical data and actively engage employees in reducing risk and enhancing productivity. More than 42,000 businesses worldwide trust Mimecast to help them keep ahead of the ever-evolving threat landscape. From insider risk to external threats, with Mimecast customers get more. More visibility. More insight. More agility. More security.

    Mimecast is either a registered trademark or trademark of Mimecast Services Limited in the United States and/or other countries. Proofpoint is a registered trademark of Proofpoint, Inc. in the United States and other countries.   All other third-party trademarks and logos contained in this press release are the property of their respective owners.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5230c472-fe83-4608-a7a3-a314fe8e701e

    The MIL Network –

  • MIL-OSI: Canadian Consumer Debt Continues to Grow Despite Macroeconomic Relief

    Source: GlobeNewswire (MIL-OSI)

    Key findings from TransUnion report:

    • Despite stabilization of macroeconomic conditions, total consumer debt and delinquency rates continue to rise
    • Gen Z consumers continue to drive credit market activity
    • Credit card balances hit new milestone of $124 billion and delinquency rates rise even as average monthly card spend declines

    TORONTO, Feb. 19, 2025 (GLOBE NEWSWIRE) — Total consumer debt in Canada hit a historic high of $2.5 trillion as outstanding balances across all credit products grew by 4.5% year-over-year (YoY) in Q4 2024, according to TransUnion’s Q4 2024 Credit Industry Insights Report (CIIR). Balances grew due to a combination of increases in both mortgage debt and non-mortgage debt. Non-mortgage debt increased 5.8% YoY with balances continuing to rise across revolving products in Q4 2024. Line of credit balances grew 4.2%, while credit card balances continued a more rapid pace of growth, increasing 9.2%. Although the rate of growth has been slowing, the overall increase remains significant.

    Credit participation grew by 2.5% YoY, with 32.3 million Canadians holding at least one open credit product, a trend fueled in part by the recent decline in interest rates and inflation. Millennial and Gen Z consumers were at the forefront of this increase, collectively holding $1.1 trillion in outstanding balances, a 10% rise YoY. Gen Z consumers were the fastest-growing segment, with a 29% increase in credit participation as they diversify their debt beyond credit card debt.

    Canada Consumer Credit Index Hits Lowest Level Since 2021

    The Canada Consumer Credit Index fell YoY to 99.8 in Q4 2024, its lowest December level since 2020. The decline indicates a deterioration in the overall health of the Canadian retail credit market, reflecting declining consumer behaviours and weakening market conditions. Although all elements of the index were lower than the prior years’ values, slowing balances, declining demand and continued increase in delinquency rates were the strongest drivers of the decline.

    Credit Card Market Growth Slowing

    Credit card balances continued to grow, marking 31 months of consecutive YoY balance growth. However, this growth has moderated in recent quarters, indicating a stabilization in the market may be expected in 2025.

    Bankcard originations trended lower in recent quarters, though totals remained elevated in comparison to pre-2018 levels. The recent decline in origination totals was seen across most risk tiers, with subprime leading the decline, influenced by the decrease in new Canadians entering the market after a significant reduction in immigration volume.

    In an effort to manage delinquency rates, lenders have become more conservative within their risk tier targets at origination. Overall, bankcard originations dropped by 3.7% YoY, with the largest decline led by subprime at 6.9% YoY, while prime and near prime consumers grew by 3.7% and 0.4% respectively. The risk mix of originated bankcard accounts and credit lines remains consistent with 2018 and 2019 levels, indicating market moderation, metric stabilization and reversion to more familiar business cycles.

    Originations growth fell across all generations. Gen Z showed the least year-over-year impact, remaining relatively flat at a decline of only 0.1% from prior year as more young adults in this generation continue to enter the credit market each year. The remaining generations saw a significant drop off from prior years, as demand in these groups for additional credit may have waned as the economy improved.

    Year-over-Year Card Origination by Generation
      Q3’22 – Q3’23 Q3’23 – Q3’24
    Baby Boomer 6.2%   -9.0%  
    Gen X 9.3%   -6.8%  
    Gen Y/Millennial 11.6%   -2.9%  
    Gen Z 28.5%   -0.1%  

    Lower inflation in recent quarters, combined with continued employment resiliency for consumers, may be driving consumers towards an improved financial health, where they balance their monthly expenses and monthly budgets. Reduced lender appetite may also play a role in this slowdown, resulting in a decrease in new credit card originations. However, despite the slowing of originations, credit card balance growth remained strong, up 9% YoY, though below the previous year’s 13% growth. The growth fueled a new balance milestone of $124 billion in Q4 2024. This was driven by higher revolving balances as consumers paid down a smaller portion of their balances. Approximately 64% of outstanding balances were revolving in Q4 2024 (+157 bp YoY) indicating that consumers are increasingly carrying balances on their cards from month to month.

    Average credit card debt per borrower hit $4,681 in Q4, but has also been slowing relative to prior years, with average debt per borrower rising 6.0% YoY in Q4 2024 as opposed to 7.2% the year prior. Prime and below risk segments are increasingly tapping into their available credit, highlighting potential pockets of growing financial needs and a greater dependence on revolving debt to cover daily expenses.

    Despite positive economic indicators, including lower interest rates boosting home-related purchases, ongoing economic uncertainty, and high prices for goods and services have continued to weigh on consumer spending decisions. There has been a corresponding drop-off in average monthly card spend, which fell 2.6% from prior year. Overall pressure on consumers related to the higher costs of living and lower savings rates contributed to a rise in bankcard delinquency rates. Bankcard serious consumer-level delinquency levels, defined as 90 or more days past due (DPD), continued to climb higher to 0.93% in Q2 2024, up 9 bps YoY.

    “In an environment where new account growth is slowing, credit card issuers need to focus on optimizing account management strategies,” said Matthew Fabian, director of financial services research and consulting at TransUnion Canada. “Strengthening customer loyalty, fostering prudent balance growth and engaging younger consumers to enhance lifetime value are crucial. Equally important is vigilant monitoring for early warning signs of rising delinquencies.”

    Credit Card Lending Metric (Bankcard) Q4 2024 Q4 2023 Q4 2022
    Number of Credit Cards (millions) 50.8 47.6 44.5
    New Card Originations (millions)* 1.8 1.9 1.7
    Average New Card Credit Limit* $5,963 $5,771 $5,688
    Total Credit Card Balances (Market) in $ billions $124.7 $114.2 $100.9
    Average Card Balance per Consumer $4,681 $4,430 $4,076
    Average Credit Limit Per Consumer $19,124 $17,973 $16,969
    Average Monthly Spend $2,136 $2,193 $2,137
    Consumer-Level Delinquency Rate (90+ DPD) 0.93% 0.84% 0.75%

    * Acquisition results are presented one quarter in arrears

    Non-Bankcard Delinquencies Also Increase Despite Economic Improvements

    The current economic landscape is unique in that, despite relatively stable employment, there has been a rise in consumer loan delinquency rates. Solid employment has been offset by high interest rates that have put pressure on consumer wallets.

    Overall serious consumer delinquency continues to rise on a year-over-year basis, up 16 basis points to 1.83% and reaching a five-year high, back on par with the pre-pandemic levels. From a demographic perspective, Gen Z consumers are driving high delinquency rates with delinquencies up YoY 26 bps to 2.74% in Q4 2024. Gen Z credit consumers generally have lower risk scores as they are new to credit and have a shorter lending history. They may also be feeling a greater impact from inflation and the high cost of living, which may strain their budgets. Lenders will need to continue applying advanced analytics to grow and retain this segment, as Gen Z will remain a growing proportion of new credit consumers over the next few years and ultimately will become core credit consumers throughout their lifecycle.


    YoY Growth in delinquency by Cohort and Risk Segment
    Q4 2023 – Q4 2024 (bps)
      Baby Boomer Gen X Millennial Gen Z
    Subprime 91 134 114 189
    Near Prime 11 12 9 14
    Prime 3 4 2 1

    “As the Canadian credit market expands, Gen Z consumers present a significant growth opportunity for lenders, especially through tailored credit card offerings,” Fabian said. “Gen Z are educated and active credit users with a growing propensity to utilize credit throughout their lifecycle. Early management is crucial, as credit cards can be a valuable financial tool for Gen Z when managed responsibly. By implementing strategies such as education and regular credit monitoring, credit cards can become an asset rather than a financial burden for Gen Z consumers, creating loyalty to lenders who provide those services.”

    ** All data is sourced from the TransUnion Canada consumer credit database.

    About TransUnion®(NYSE: TRU)

    TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries, including Canada, where we’re the credit bureau of choice for the financial services ecosystem and most of Canada’s largest banks. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this by providing 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.

    For more information visit: www.transunion.ca

    For more information or to request an interview, contact:

    Contact: Katie Duffy
    E-mail: katie.duffy@ketchum.com 
    Telephone: +1 647-772-0969

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f4b9eec1-e70c-45bf-8e6d-7144f3adbf3d

    The MIL Network –

  • MIL-OSI: HighPeak Energy, Inc. Announces 2024 Fourth Quarter and Yearend Earnings Release and Conference Call Dates

    Source: GlobeNewswire (MIL-OSI)

    FORT WORTH, Texas, Feb. 19, 2025 (GLOBE NEWSWIRE) — HighPeak Energy, Inc. (NASDAQ: HPK) (“HighPeak Energy”), today announced that it plans to release its 2024 fourth quarter and yearend financial and operating results after the close of trading on Monday, March 10, 2025.

    HighPeak Energy will host a conference call and webcast on Tuesday, March 11, 2025 at 10:00 a.m. Central Time for investors and analysts to discuss its 2024 fourth quarter and yearend financial results and operational highlights. Participants may register for the call here. Access to the live audio-only webcast and replay of the earnings release conference call may be found here. A live broadcast of the earnings conference call will also be available on HighPeak Energy’s website at www.highpeakenergy.com under the “Investors” section of the website.  

    About HighPeak Energy, Inc.

    HighPeak Energy is a publicly traded independent oil and natural gas company, headquartered in Fort Worth, Texas, focused on the acquisition, development, exploration and exploitation of oil and natural gas reserves in the Midland Basin in West Texas. For more information, please visit our website at www.highpeakenergy.com.

    Investor Contact:

    Ryan Hightower
    Vice President, Business Development
    817.850.9204
    rhightower@highpeakenergy.com

    Source: HighPeak Energy, Inc.

    The MIL Network –

  • MIL-OSI: Enlight Renewable Energy Reports Fourth Quarter and Full Year 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    All of the amounts disclosed in this press release are in U.S. dollars unless otherwise noted

    TEL AVIV, Israel, Feb. 19, 2025 (GLOBE NEWSWIRE) — Enlight Renewable Energy Ltd. (NASDAQ: ENLT, TASE: ENLT) today reported financial results for the fourth quarter and full year ending December 31, 2024. The Company’s earnings conference call and webcast will be held today at 8:00 AM ET. Registration links to both the call and the webcast can be found at the end of this earnings release.

    Financial Highlights

    Full year 2024

    • Revenues and income of $399m, up 53% year over year
    • Adjusted EBITDA1 of $289m, up 49% year over year
    • Net income of $67m, down 32% year over year
    • Cash flow from operations of $193, up 29% year over year

    3 months ending December 31, 2024

    • Revenues and income of $104m, up 35% year over year
    • Adjusted EBITDA1 of $65m, up 31% year over year
    • Net income of $8m, down 48% year over year
    • Cash flow from operations of $36m, up 49% year over year

    ________________________
    1 The Company is unable to provide a reconciliation of Adjusted EBITDA to Net Income on a forward-looking basis without unreasonable effort because items that impact this IFRS financial measure are not within the Company’s control and/or cannot be reasonably predicted. Please refer to the reconciliation table in Appendix 2

      For the twelve months ended   For the three months ended
     ($ millions) 31/12/2024 31/12/2023 % change 31/12/2024 31/12/2023 % change
    Revenue and Income 399 261 53% 104 77 35%
    Net Income 67 98 (32%) 8 16 (48%)
    Adjusted EBITDA 289 194 49% 65 50 31%
    Cash Flow from Operating Activities 193 150 29% 36 24 49%
    • In 2023 the net income contained substantial one-time items
    • A detailed analysis of financial results appears below

    2024 Guidance vs Actual Results

    • Reported revenues and income for 2024 was 15% higher than the Company’s original guidance at the midpoint.
    • Reported Adjusted EBITDA for 2024 was 18% higher than the Company’s original guidance at the midpoint.

    Revenues and Income and Adjusted EBITDA includes $21m of U.S. tax benefits

    “We are proud to conclude 2024 with outstanding financial results that surpassed both our targets and analysts’ forecasts,” said Gilad Yavetz, CEO of Enlight Renewable Energy.

    “Enlight continues to grow thanks to its diversified and innovative operations, spanning three continents and employing the three main technologies of the industry: solar, wind, and energy storage.

    “The year 2025 represents another leap forward for us, as a massive capacity of 4.7 FGW – with a total investment of $5.5bn – will be under various stages of construction. Together with the Company’s operating portfolio, this will secure approximately 90% of the Company’s ambitious growth plan: to reach operating capacity of 8.6 FGW by the end of 2027. This plan will bring Enlight to an annual revenue rate of over $1bn by 2028, tripling the business in just three years.

    “We expect that the average return on equity for the vast asset portfolio that will become operational by 2027 will exceed 15%. Our three-year growth plan is already reflected in our 2025 guidance: we project revenues and income in the range of $490-510 million and Adjusted EBITDA in the range of $360-380 million, a 25% increase.”

    Portfolio Review

    • Enlight’s total portfolio is comprised of 20 GW of generation capacity and 35.8 GWh storage (30.2 FGW2)
    • Of this, the Mature portfolio component (including operating projects, projects under construction or pre-construction) contains 6.1 GW generation capacity and 8.6 GWh of storage (8.6 FGW)
    • Within the Mature portfolio component, the operating component has 2.5 GW of generation capacity and 1.9 GWh of storage (3.0 FGW)

    The full composition of the portfolio appears in the following table:

    Component Status FGW2 Annual recurring revenues ($m)3
    Operating Commercial operation 3.0 ~5004
    Under Construction Under construction 1.8 ~175
    Pre-Construction 0-12 months to start of construction 3.8 ~385
    Total Mature Portfolio Mature 8.6 1,060~
    Advanced Development 13-24 months to start of construction 7 –
    Development 2+ years to start of construction 14.7 –
    Total Portfolio   30.2 –

    ________________________
    2 FGW (Factored GW) is a consolidated metric combining generation and storage capacity into a uniform figure based on the ratio of construction costs. The company’s current weighted average construction cost ratio is 3.5 GWh of storage per 1 GW of generation: FGW = GW + GWh / 3.5
    3     Does not include income from tax benefits for under construction and pre-construction projects.
    4 Based on the midpoint of 2025 guidance.

    • Operating component of the portfolio: 3 FGW
      • Start of commercial operations of 1.1 FGW in 2024, including projects Atrisco in the U.S., Pupin and Tapolca in Europe, the Israel Solar and Storage Cluster in MENA. These additions contribute approximately $100m to the annual revenue run rate.
    • Under Construction component of the portfolio: 1.8 FGW
      • Consists of three projects in the U.S. with a total capacity of 1.4 FGW; the Gecama Solar project in Spain with a capacity of 0.3 FGW; and a solar and storage cluster in Israel. 35% of the cluster is expected to reach operations in 2025, with the rest commissioning in 2026.
      • Projects under construction are expected to contribute $175m to the annual revenue run rate during their first full year of operation.
    • Pre-construction component of the portfolio: 3.8 FGW
      • Two mega projects in the U.S., Snowflake and CO Bar, with a combined capacity of 2.6 FGW will begin construction in 2025 and are expected to contribute $246m to revenues on an annualized basis.
      • Nardo, a stand alone storage project in Italy with a capacity of 0.25 FGW, is expected to begin construction in 2H25 and contribute $31m to revenues on an annualized basis.
    • Advanced Development component of the portfolio component: 7 FGW
      • 5.3 FGW in the U.S., with 100% of the capacity having passed completion of the System Impact Study, the most important study of the grid connection process, significantly de-risking the portfolio.
      • The U.S. portfolio includes several mega-projects and follow-ons to Mature projects, such as Cedar Island (1.4 FGW), Snowflake B (1.2 FGW), and Atrisco 2 (0.7 FGW).
      • These projects reflect the Company’s “Connect and Expand” strategy, leveraging existing grid infrastructure with the development of new ones, thereby reducing construction costs and project risks while improving project returns.
      • 0.7 FGW in Europe, focused on Italy, Spain, and Croatia.
      • 1 FGW in MENA, focused on solar and storage projects and stand alone storage facilities, including approximately 0.5 FGW that won availability tariffs as part of the Israel Electricity Authority’s first high voltage storage availability tariff tender.
    • Development component of the portfolio: 14.7 FGW
      • 10 FGW in the U.S. with broad geographic presence, including the PJM, WECC, SPP and MISO regions.
      • 2.7 FGW in Europe, focused on Italy, Spain, Croatia and entry into stand-alone storage operations in Poland.
      • 2 FGW in MENA, focused on solar combined storage projects and stand alone storage facilities.

    Projected COD Timeline for the Mature Portfolio5

    ________________________
    5 Additional projects currently classified in the Advanced Development portfolio are expected to reach commercial operation by 2027, however they are not included in this forecast

    Mature Portfolio Components Expected to Generate Annualized Revenues of Over $1bn6

    All the projects in the plan are expected to be completed by the end of 2027

    ________________________
    6 The projection is based on 2025 guidance, and only includes additional revenue growth from the sale of electricity from projects under construction and in pre-construction status.

    Financing Activities

    • Financial closings totaling $1.1bn in Europe and the US occurred during 2024, supporting the construction of projects with 470 MW and 2,100 MWh capacity.
    • Expansion of Series D bonds totaling $178m to finance the Company’s growth.
    • Sale of 44% of the Sunlight cluster for $50m cash at a valuation of $114m, generating a profit of up to $94m to be recognized in the first quarter of 2025. The cluster represents approximately 1% of the Company’s total portfolio.
    • As of the date of this report, the Company maintains $350m of revolving credit facilities, of which $70m have been drawn.

    2025 Guidance

    Construction and commissioning

    • Expected commissioning of 440 MW and 1.1 GWh of capacity, which is expected to add approximately $130m to annualized revenues and $105m annualized EBITDA, starting in 2026.
    • Starting construction on 1.8 GW and 3.9 GWh of capacity, which is expected to add over $300m in annualized revenues and over $250m in annualized EBITDA gradually through 2026-2027.

    Financial guidance

    • Total revenues and income7 are expected to range between $490m and $510m, a 25% increase (from the midpoint) from 2024 results. Of the projected revenues and income, 38% are expected to be denominated in ILS, 35% in EUR, and 27% in USD.
    • Adjusted EBITDA8 is expected to range between $360m and $380m, a 28% increase (from the midpoint) from 2024 results.
    • Approximately 90% of the electricity volumes expected to be generated in 2025 will be sold at fixed prices through PPAs or hedges.

    ________________________
    7 Total revenues and income include revenues from the sale of electricity along with income from tax benefits from US projects amounting to $60m-80m.
    8 EBITDA is a non-IFRS financial measure. The Company is unable to provide a reconciliation of EBITDA to Net Income on a forward-looking basis without unreasonable effort because items that impact this IFRS financial measure are not within the Company’s control and/or cannot be reasonably predicted. Please refer to the reconciliation table in Appendix 2.

    Financial Results Analysis

    Revenue & Income by Segment
    ($ thousands) For the twelve months ended   For the three months ended  
    Segment 31/12/2024 31/12/2023 Change % 31/12/2024 31/12/2023 Change %
    MENA 155,693 67,687 130% 34,086 20,738 64%
    Europe 197,143 177,471 11% 49,979 50,770 (2%)
    U.S. 36,608 7,712 375% 17,894 3,571 401%
    Other 9,351 8,270 13% 2,143 2,009 7%
    Total Revenue & Income 398,795 261,140 53% 104,102 77,088 35%
                 

    Revenues & Income

    In the fourth quarter of 2024, the Company’s total revenues and income increased to $104m, up from $77m last year, a growth rate of 35% year over year. This was composed of revenues from the sale of electricity, which rose 26% to $93m compared to $74m in the same period of 2023, as well as recognition of $11m in income from tax benefits, up 230% compared to $3m in 4Q23.

    The Company benefited from the revenue contribution of newly operational projects. Since the fourth quarter of 2023, 650 MW and 1,600 MWh of projects were connected to the grid and began selling electricity, including seven of the Israel Solar and Storage Cluster units in Israel, Atrisco in the U.S, Pupin in Serbia, and Tapolca in Hungary. The most important increases in revenue from the sale of electricity originated at the Israel Solar and Storage Cluster, which added $9m, followed by Atrisco, which added $6m in. In total, new projects contributed $18m to revenues from the sale of electricity

    Revenues and income were distributed between MENA, Europe, and the US, with 34% denominated in Israeli Shekel, 47% in Euros, and 18% denominated in US Dollars.

    Net Income

    In the fourth quarter, the Company’s net income amounted to $8m compared to $16m last year, a decrease of 48% year over year. In 4Q23 the Company recorded a $12m net profit stemming from the recalculation of earnout payments linked to the acquisition of Clenera. Adjusting for this figure, the net income in 4Q23 was $4m, implying year-on-year growth of 90%.

    Adjusted EBITDA9

    In the fourth quarter of 2024, the Company’s Adjusted EBITDA grew by 31% to $65m compared to $50m for the same period in 2023. The increase in Adjusted EBITDA was driven by the same factors that drove the increase in revenues and income, namely new projects and the recognition of higher amounts of tax benefits. This was offset by an additional $6m in higher operating expenses linked to new projects, while company overheads rose by $5m year-on-year.

    ________________________
    9 Adjusted EBITDA is a non-IFRS measure. Please see the appendix of this presentation for a reconciliation to Net Income

    Conference Call Information

    Enlight plans to hold its Fourth Quarter 2024 Conference Call and Webcast on Wednesday, February 19, 2025 at 8:00 a.m. ET to review its financial results and business outlook. Management will deliver prepared remarks followed by a question-and-answer session. Participants can join by dial-in or webcast:

    The press release with the financial results as well as the investor presentation materials will be accessible from the Company’s website prior to the conference call. Approximately one hour after completion of the live call, an archived version of the webcast will be available on the Company’s investor relations website at https://enlightenergy.co.il/info/investors/.

    Supplemental Financial and Other Information

    We intend to announce material information to the public through the Enlight investor relations website at https://enlightenergy.co.il/info/investors, SEC filings, press releases, public conference calls, and public webcasts. We use these channels to communicate with our investors, customers, and the public about our company, our offerings, and other issues. As such, we encourage investors, the media, and others to follow the channels listed above, and to review the information disclosed through such channels. Any updates to the list of disclosure channels through which we will announce information will be posted on the investor relations page of our website.

    Non-IFRS Financial Measures

    This release presents Adjusted EBITDA, a financial metric, which is provided as a complement to the results provided in accordance with the International Financial Reporting Standards as issued by the International Accounting Standards Board (“IFRS”). A reconciliation of the non-IFRS financial information to the most directly comparable IFRS financial measure is provided in the accompanying tables found at the end of this release.

    We define Adjusted EBITDA as net income (loss) plus depreciation and amortization, share based compensation, finance expenses, taxes on income and share in losses of equity accounted investees and minus finance income and non-recurring portions of other income, net. For the purposes of calculating Adjusted EBITDA, compensation for inadequate performance of goods and services procured by the Company are included in other income, net. Compensation for inadequate performance of goods and services reflects the profits the Company would have generated under regular operating conditions and is therefore included in Adjusted EBITDA. With respect to gains (losses) from asset disposals, as part of Enlight’s strategy to accelerate growth and reduce the need for equity financing, the Company sells parts of or the entirety of selected renewable project assets from time to time, and therefore includes realized gains or losses from these asset disposals in Adjusted EBITDA. In the case of partial assets disposals, Adjusted EBITDA includes only the actual consideration less the book value of the assets sold. Our management believes Adjusted EBITDA is indicative of operational performance and ongoing profitability and uses Adjusted EBITDA to evaluate the operating performance and for planning and forecasting purposes.

    Non-IFRS financial measures have limitations as analytical tools and should not be considered in isolation or as substitutes for financial information presented under IFRS. There are a number of limitations related to the use of non-IFRS financial measures versus comparable financial measures determined under IFRS. For example, other companies in our industry may calculate the non-IFRS financial measures that we use differently or may use other measures to evaluate their performance. All of these limitations could reduce the usefulness of our non-IFRS financial measures as analytical tools. Investors are encouraged to review the related IFRS financial measure, Net Income, and the reconciliations of Adjusted EBITDA provided below to Net Income and to not rely on any single financial measure to evaluate our business.

    Special Note Regarding Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding the Company’s business strategy and plans, capabilities of the Company’s project portfolio and achievement of operational objectives, market opportunity, utility demand and potential growth, discussions with commercial counterparties and financing sources, pricing trends for materials, progress of Company projects, including anticipated timing of related approvals and project completion and anticipated production delays, the Company’s future financial results, expected impact from various regulatory developments and anticipated trade sanctions, expectations regarding wind production, electricity prices and windfall taxes, and Revenues and Income and Adjusted EBITDA guidance, the expected timing of completion of our ongoing projects, and the Company’s anticipated cash requirements and financing plans , are forward-looking statements. The words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible,” “forecasts,” “aims” or the negative of these terms and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions.

    These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: our ability to site suitable land for, and otherwise source, renewable energy projects and to successfully develop and convert them into Operational Projects; availability of, and access to, interconnection facilities and transmission systems; our ability to obtain and maintain governmental and other regulatory approvals and permits, including environmental approvals and permits; construction delays, operational delays and supply chain disruptions leading to increased cost of materials required for the construction of our projects, as well as cost overruns and delays related to disputes with contractors; disruptions in trade caused by political, social or economic instability in regions where our components and materials are made; our suppliers’ ability and willingness to perform both existing and future obligations; competition from traditional and renewable energy companies in developing renewable energy projects; potential slowed demand for renewable energy projects and our ability to enter into new offtake contracts on acceptable terms and prices as current offtake contracts expire; offtakers’ ability to terminate contracts or seek other remedies resulting from failure of our projects to meet development, operational or performance benchmarks; exposure to market prices in some of our offtake contracts; various technical and operational challenges leading to unplanned outages, reduced output, interconnection or termination issues; the dependence of our production and revenue on suitable meteorological and environmental conditions, and our ability to accurately predict such conditions; our ability to enforce warranties provided by our counterparties in the event that our projects do not perform as expected; government curtailment, energy price caps and other government actions that restrict or reduce the profitability of renewable energy production; electricity price volatility, unusual weather conditions (including the effects of climate change, could adversely affect wind and solar conditions), catastrophic weather-related or other damage to facilities, unscheduled generation outages, maintenance or repairs, unanticipated changes to availability due to higher demand, shortages, transportation problems or other developments, environmental incidents, or electric transmission system constraints and the possibility that we may not have adequate insurance to cover losses as a result of such hazards; our dependence on certain operational projects for a substantial portion of our cash flows; our ability to continue to grow our portfolio of projects through successful acquisitions; changes and advances in technology that impair or eliminate the competitive advantage of our projects or upsets the expectations underlying investments in our technologies; our ability to effectively anticipate and manage cost inflation, interest rate risk, currency exchange fluctuations and other macroeconomic conditions that impact our business; our ability to retain and attract key personnel; our ability to manage legal and regulatory compliance and litigation risk across our global corporate structure; our ability to protect our business from, and manage the impact of, cyber-attacks, disruptions and security incidents, as well as acts of terrorism or war; changes to existing renewable energy industry policies and regulations that present technical, regulatory and economic barriers to renewable energy projects; the reduction, elimination or expiration of government incentives or benefits for, or regulations mandating the use of, renewable energy; our ability to effectively manage the global expansion of the scale of our business operations; our ability to perform to expectations in our new line of business involving the construction of PV systems for municipalities in Israel; our ability to effectively manage our supply chain and comply with applicable regulations with respect to international trade relations, tariffs, sanctions, export controls and anti-bribery and anti-corruption laws; our ability to effectively comply with Environmental Health and Safety and other laws and regulations and receive and maintain all necessary licenses, permits and authorizations; our performance of various obligations under the terms of our indebtedness (and the indebtedness of our subsidiaries that we guarantee) and our ability to continue to secure project financing on attractive terms for our projects; limitations on our management rights and operational flexibility due to our use of tax equity arrangements; potential claims and disagreements with partners, investors and other counterparties that could reduce our right to cash flows generated by our projects; our ability to comply with increasingly complex tax laws of various jurisdictions in which we currently operate as well as the tax laws in jurisdictions in which we intend to operate in the future; the unknown effect of the dual listing of our ordinary shares on the price of our ordinary shares; various risks related to our incorporation and location in Israel, including the ongoing war in Israel, where our headquarters and some of our wind energy and solar energy projects are located; the costs and requirements of being a public company, including the diversion of management’s attention with respect to such requirements; certain provisions in our Articles of Association and certain applicable regulations that may delay or prevent a change of control; and other risk factors set forth in the section titled “Risk factors” in our Annual Report on Form 20-F for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (the “SEC”), as may be updated in our other documents filed with or furnished to the SEC.

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

    About Enlight

    Founded in 2008, Enlight develops, finances, constructs, owns, and operates utility-scale renewable energy projects. Enlight operates across the three largest renewable segments today: solar, wind and energy storage. A global platform, Enlight operates in the United States, Israel and 9 European countries. Enlight has been traded on the Tel Aviv Stock Exchange since 2010 (TASE: ENLT) and completed its U.S. IPO (Nasdaq: ENLT) in 2023.

    Company Contacts

    Yonah Weisz
    Director IR
    investors@enlightenergy.co.il

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

    Appendix 1 – Financial information

    Consolidated Statements of Income
    		        
        For the year ended at
    December 31
        2024   2023(*)
        USD in   USD in
        thousands   thousands
    Revenues   377,935   255,702
    Tax benefits   20,860   5,438
    Total revenues and income   398,795   261,140
             
    Cost of sales (**)   (80,696)   (52,794)
    Depreciation and amortization   (108,889)   (65,796)
    General and administrative expenses   (38,847)   (31,356)
    Development expenses   (11,601)   (6,347)
    Total operating expenses   (240,033)   (156,293)
    Gains from projects disposals   601   9,846
    Other income, net   16,172   43,450
    Operating profit   175,535   158,143
             
    Finance income   20,439   36,799
    Finance expenses   (107,844)   (68,143)
    Total finance expenses, net   (87,405)   (31,344)
             
    Profit before tax and equity loss   88,130   126,799
    Share of loss of equity accounted investees   (3,350)   (330)
    Profit before income taxes   84,780   126,469
    Taxes on income   (18,275)   (28,428)
    Profit for the year   66,505   98,041
             
    Profit for the year attributed to:        
    Owners of the Company   44,209   70,924
    Non-controlling interests   22,296   27,117
        66,505   98,041
    Earnings per ordinary share (in USD) with a par value of        
    NIS 0.1, attributable to owners of the parent Company:        
    Basic earnings per share   0.37   0.61
    Diluted earnings per share   0.36   0.57
    Weighted average of share capital used in the        
    calculation of earnings:        
    Basic per share   118,293,556   115,721,346
    Diluted per share   123,312,565   123,861,293
     

    (*) The Consolidated Statements of Income have been adjusted to present comparable information for the previous year. For additional details please see Appendix 8.

    (**) Excluding depreciation and amortization

    Consolidated Statements of Financial Position as of        
        December 31   December 31
        2024   2023
        USD in   USD in
        Thousands   Thousands
    Assets        
             
    Current assets        
    Cash and cash equivalents   387,427   403,805
    Deposits in banks   –   5,308
    Restricted cash   100,090   142,695
    Trade receivables   50,692   43,100
    Other receivables   99,651   60,691
    Current maturities of contract assets   –   8,070
    Other financial assets   975   976
    Assets of disposal groups classified as held for sale   81,661   –
    Total current assets   720,496   664,645
             
    Non-current assets        
    Restricted cash   48,251   38,891
    Other long-term receivables   61,045   32,540
    Deferred costs in respect of projects   357,358   271,424
    Deferred borrowing costs   276   493
    Loans to investee entities   18,112   35,878
    Contract assets   –   91,346
    Fixed assets, net   3,699,192   2,947,369
    Intangible assets, net   291,442   287,961
    Deferred taxes assets   10,744   9,134
    Right-of-use asset, net   210,941   121,348
    Financial assets at fair value through profit or loss   69,216   53,466
    Other financial assets   59,812   79,426
    Total non-current assets   4,826,389   3,969,276
             
    Total assets   5,546,885   4,633,921
    Consolidated Statements of Financial Position as of (Cont.)         
        December 31   December 31
        2024   2023
        USD in   USD in
        Thousands   Thousands
    Liabilities and equity    
             
    Current liabilities      
    Credit and current maturities of loans from        
    banks and other financial institutions   212,246   324,666
    Trade payables 161,991   105,574
    Other payables 107,825   103,622
    Current maturities of debentures   44,962   26,233
    Current maturities of lease liability   10,240   8,113
    Financial liabilities through profit or loss   –   13,860
    Other financial liabilities   8,141   1,224
    Liabilities of disposal groups classified as held for sale   46,635   –
    Total current liabilities   592,040   583,292
             
    Non-current liabilities    
    Debentures 433,994   293,751
    Other financial liabilities   107,865   62,020
    Convertible debentures   133,056   130,566
    Loans from banks and other financial institutions   1,996,137   1,702,925
    Loans from non-controlling interests   75,598   92,750
    Financial liabilities through profit or loss   25,844   34,524
    Deferred taxes liabilities   41,792   44,941
    Employee benefits 1,215   4,784
    Lease liability 211,941   119,484
    Deferred income related to tax equity   403,384   60,880
    Asset retirement obligation   83,085   68,047
    Total non-current liabilities   3,513,911   2,614,672
             
    Total liabilities 4,105,951   3,197,964
             
    Equity        
    Ordinary share capital   3,308   3,293
    Share premium 1,028,532   1,028,532
    Capital reserves 25,273   57,730
    Proceeds on account of convertible options   15,494   15,494
    Accumulated profit 107,919   63,710
    Equity attributable to shareholders of the Company   1,180,526   1,168,759
    Non-controlling interests   260,408   267,198
    Total equity 1,440,934   1,435,957
    Total liabilities and equity   5,546,885   4,633,921
    Consolidated Statements of Cash Flows    
         
      For the year ended at
    December 31
      2024 2023
      USD in USD in
      Thousands Thousands
         
    Cash flows for operating activities    
    Profit for the period 66,505 98,041
         
    Income and expenses not associated with cash flows:    
    Depreciation and amortization 108,889 65,796
    Finance expenses, net 83,560 28,805
    Share-based compensation 8,360 4,970
    Taxes on income 18,275 28,428
    Tax benefits (20,860) (5,438)
    Other income, net (4,963) (46,991)
    Company’s share in losses of investee partnerships 3,350 330
      196,611 75,900
         
    Changes in assets and liabilities items:    
    Change in other receivables 12,261 (3,241)
    Change in trade receivables (9,892) (2,841)
    Change in other payables 294 6,382
    Change in trade payables 746 15,474
      3,409 15,774
         
    Interest receipts 12,684 12,490
    Interest paid (74,891) (54,469)
    Income Tax paid (11,246) (12,236)
    Repayment of contract assets – 14,120
         
    Net cash from operating activities 193,072 149,620
         
    Cash flows for investing activities    
    Sale (Acquisition) of consolidated entities, net 1,871 (6,975)
    Changes in restricted cash and bank deposits, net 29,959 (53,131)
    Purchase, development, and construction in respect of projects (899,257) (730,976)
    Loans provided and Investment in investees (26,444) (28,174)
    Payments on account of acquisition of consolidated entity (32,777) (5,728)
    Proceeds from sale (purchase) of financial assets measured at fair value     
    through profit or loss, net (14,719) 26,919
    Net cash used in investing activities (941,367) (798,065)
    Consolidated Statements of Cash Flows (Cont.)   
      For the year ended at
    December 31
      2024  2023 
      USD in USD in
      Thousands Thousands
         
    Cash flows from financing activities    
    Receipt of loans from banks and other financial institutions 939,627 623,927
    Repayment of loans from banks and other financial institutions (699,586) (203,499)
    Issuance of debentures 177,914 83,038
    Repayment of debentures (26,016) (14,735)
    Dividends and distributions by subsidiaries to non-controlling interests (25,534) (13,328)
    Proceeds from investments by tax-equity investors 410,845 198,758
    Repayment of tax equity investment (839) (82,721)
    Deferred borrowing costs (21,637) (1,984)
    Receipt of loans from non-controlling interests – 274
    Repayment of loans from non-controlling interests (2,960) (1,485)
    Increase in holding rights of consolidated entity (169) –
    Issuance of shares – 266,451
    Exercise of share options 15 9
    Repayment of lease liability (5,852) (4,848)
    Proceeds from investment in entities by non-controlling interest 179 5,448
         
    Net cash from financing activities 745,987 855,305
         
    Increase (Decrease) in cash and cash equivalents (2,308) 206,860
         
    Balance of cash and cash equivalents at beginning of period 403,805 193,869
         
    Changes in cash of disposal groups classified as held for sale (5,753) –
         
    Effect of exchange rate fluctuations on cash and cash equivalents (8,317) 3,076
         
    Cash and cash equivalents at end of period 387,427 403,805

    Information related to Segmental Reporting

      For the year ended December 31, 2024
      MENA(**)   Europe(**)   USA   Total reportable segments   Others   Total
      USD in thousands
    Revenues 155,693   197,143   15,748   368,584   9,351   377,935
    Tax benefits –   –   20,860   20,860   –   20,860
    Total revenues and income 155,693   197,143   36,608   389,444   9,351   377,935
                           
    Segment adjusted EBITDA 123,724   165,385   33,539   322,648   4,141   326,789
       
    Reconciliations of unallocated amounts:  
    Headquarter costs (*) (37,774)
    Intersegment profit 100
    Depreciation and amortization and share-based compensation (117,249)
    Other incomes not attributed to segments 3,669
    Operating profit 175,535
    Finance income 20,439
    Finance expenses (107,844)
    Share in the losses of equity accounted investees (3,350)
    Profit before income taxes 84,780
     

    (*) Including general and administrative and development expenses (excluding depreciation and amortization and share based compensation).

    (**) Due to the Company’s organizational restructuring, the Chief Operation Decision Maker (CODM) now reviews the group’s results by segmenting them into four business units: MENA (Middle East and North Africa), Europe, the US, and Management and Construction. Consequently, the Central/Eastern Europe and Western Europe segments have been consolidated into the “Europe” segment, and the Israel segment has been incorporated into the MENA segment. The comparative figures for the year ended December 31, 2023, have been updated accordingly.

    Information related to Segmental Reporting

      For the year ended December 31, 2023
      MENA   Europe   USA   Total reportable segments   Others   Total
      USD in thousands
    Revenues 67,687   177,471   2,274   247,432   8,270   255,702
    Tax benefits –   –   5,438   5,438   –   5,438
    Total revenues and income 67,687   177,471   7,712   252,870   8,270   261,140
                           
    Segment adjusted EBITDA 71,350   150,677   12,133   234,160   3,035   237,195
       
    Reconciliations of unallocated amounts:  
    Headquarter costs (*) (30,434)
    Intersegment profit 1,587
    Repayment of contract asset under concession arrangements (14,120)
    Depreciation and amortization and share-based compensation (70,766)
    Other incomes not attributed to segments 34,681
    Operating profit 158,143
    Finance income 36,799
    Finance expenses (68,143)
    Share in the losses of equity accounted investees (330)
    Profit before income taxes 126,469
     

    (*) Including general and administrative and development expenses (excluding depreciation and amortization and share based compensation).

    Appendix 2 – Reconciliations between Net Income to Adjusted EBITDA

    ($ thousands)   For the year ended   For the three months
        December 31   ended December 31
        2024   2023   2024   2023
    Net Income (loss)   66,505   98,041   8,372   16,202
    Depreciation and amortization   108,889   65,796   30,912   21,611
    Share based compensation   8,360   4,970   2,333   970
    Finance income   (20,439)   (36,799)   (2,140)   7,581
    Finance expenses   107,844   68,143   22,008   16,344
    Non-recurring other income (*)   (3,669)   (34,681)   –   (15,718)
    Share of losses of equity accounted investees   3,350   330   1,613   (137)
    Taxes on income   18,275   28,428   2,121   2,934
    Adjusted EBITDA   289,115   194,228   65,219   49,787
                     
    * For the purposes of calculating Adjusted EBITDA, compensation for inadequate performance of goods and services procured by the Company are included in other income, net.
       

    The Company has changed its presentation of its Income Statement, which includes the presentation of specified items that have been previously included within other income (i.e. tax equity). The Company believes that such presentation provides a more relevant information and better reflects the measurement of its financial performance. The Company applied such change retrospectively.

    Appendix 3 – Debentures Covenants

    Debentures Covenants

    As of December 31, 2024, the Company was in compliance with all of its financial covenants under the indenture for the Series C-F Debentures, based on having achieved the following in its consolidated financial results:

    Minimum equity
    The company’s equity shall be maintained at no less than NIS 200 million so long as debentures E remain outstanding, no less than NIS 375 million so long as debentures F remain outstanding, and NIS 1,250 million so long as debentures C and D remain outstanding.

    As of December 31, 2024, the company’s equity amounted to NIS 5,255 million.

    Net financial debt to net CAP
    The ratio of standalone net financial debt to net CAP shall not exceed 70% for two consecutive financial periods so long as debentures E and F remain outstanding, and shall not exceed 65% for two consecutive financial periods so long as debentures C and D remain outstanding.

    As of December 31, 2024, the net financial debt to net CAP ratio, as defined above, stands at 37%.

    Net financial debt to EBITDA
    So long as debentures E and F remain outstanding, standalone financial debt shall not exceed NIS 10 million, and the consolidated financial debt to EBITDA ratio shall not exceed 18 for more than two consecutive financial periods.

    For as long as debentures C and D remain outstanding, the consolidated financial debt to EBITDA ratio shall not exceed 15 for more than two consecutive financial periods.

    As of December 31, 2024, the net financial debt to EBITDA ratio, as defined above, stands at 9.

    Equity to balance sheet
    The standalone equity to total balance sheet ratio shall be maintained at no less than 20% and 25%, respectively, for two consecutive financial periods for as long as debentures E and F, and debentures C and D remain outstanding.

    As of December 31, 2024, the equity to balance sheet ratio, as defined above, stands at 55%.

    Photos accompanying this announcement are available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/16dfdaab-3b06-4494-a529-7e4b98cd6ad8

    https://www.globenewswire.com/NewsRoom/AttachmentNg/a4d568ee-77b0-4eab-b7ef-c865a4a26d0e

    https://www.globenewswire.com/NewsRoom/AttachmentNg/ae07b0d5-09c7-404f-a71d-70494b2b64ca

    The MIL Network –

  • MIL-OSI Economics: Authority to host event for designated businesses

    Source: Isle of Man

    The Isle of Man Financial Services Authority is hosting an event for designated businesses as part of its ongoing programme of engagement with the Island’s business sector.

    The session, which is scheduled to take place at the Manx Museum Lecture Theatre on Wednesday 30 April 2025, will cover a range of key topics including:

    • Supervisory approach for Designated Non-Financial Businesses and Professions (DNFBPs)
    • Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Code 2019 obligations and concessions
    • Preparations for the Isle of Man’s MONEYVAL evaluation
    • The submission of Annual Statistical Returns and data via the STRIX system

    A short presentation will be followed by an open question and answer panel discussion with senior officers from the Authority. There will also be an opportunity for attendees to discuss matters more informally before and after the main session.

    The event is open to all registered DNFBPs and tickets will be made available via the Eventbrite website later this month. As there is limited capacity at the venue, attendance is restricted to one space per entity. However, the presentation and Q&A will be recorded and shared with all stakeholders via the Authority’s website and social media channels.

    Doors open at 8:45am, with the presentation scheduled to start at 9:00am. The event will finish at 10:30am.

    Lucy Hendy, Senior Manager, AML/CFT Supervision, said: ‘The Authority is committed to working collaboratively with designated businesses to strengthen engagement and mutual understanding. We will provide further insight into our future plans and expectations during the event at the Museum, as well as taking the opportunity listen to the views of Island firms on relevant issues.’

    MIL OSI Economics –

  • MIL-OSI China: China launches pioneering underwater intelligent computing cluster in Hainan

    Source: People’s Republic of China – State Council News

    HAIKOU, Feb. 19 — China has activated a groundbreaking underwater intelligent computing cluster off the coast of its southernmost province of Hainan, marking a significant leap forward in sustainable high-performance computing.

    A new data module was deployed on the seabed off the coast of Lingshui, Hainan on Tuesday morning. It established a connection with the existing underwater data center (UDC), first launched in 2023, to create a cluster for the intelligent computing center, China Media Group (CMG) reported.

    The newly installed facility is capable of housing over 400 high-performance servers.

    With this new facility in place, the cluster now delivers computing power equivalent to 30,000 high-end gaming PCs, processing a year’s worth of calculations for an average computer in just one second.

    Notably, the cluster supports AI applications requiring massive data processing. It enables DeepSeek’s AI assistant to handle 7,000 queries per second, according to the CMG report.

    The system uses seawater as a natural coolant, significantly cutting energy consumption compared to land-based centers. Some 10 companies have already signed on to utilize its capacity for AI model training and inference, industrial simulation, game development and marine scientific research.

    Intelligent computing is critical for AI research, training and applications. The cluster aligns with China’s national strategy to boost AI infrastructure while also meeting climate goals.

    The Hainan UDC, the world’s first commercial UDC project, officially commenced operations near Lingshui at the end of March 2023.

    This facility not only stores data but also functions as an underwater “supercomputer,” capable of processing over 4 million high-definition photos within 30 seconds, equivalent to the simultaneous operation of 60,000 traditional computers.

    MIL OSI China News –

  • MIL-OSI Video: Beginning of the End of AIDS | World Economic Forum Annual Meeting 2025

    Source: World Economic Forum (video statements)

    Recent breakthroughs in long-acting medicines can revolutionize the HIV response, making possible an end to AIDS-related deaths and to new HIV infections.

    As science advances, how can we overcome barriers to access and scale these innovations to ensure a future free from AIDS?

    Speakers: Peter Sands, Winnie Byanyima, Helen E. Clark

    The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

    This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
    Facebook ► https://www.facebook.com/worldeconomicforum/
    YouTube ► https://www.youtube.com/wef
    Instagram ► https://www.instagram.com/worldeconomicforum/
    X ► https://twitter.com/wef
    LinkedIn ► https://www.linkedin.com/company/world-economic-forum
    TikTok ► https://www.tiktok.com/@worldeconomicforum
    Flipboard ► https://flipboard.com/@WEF

    #Davos2025 #WorldEconomicForum #wef25

    https://www.youtube.com/watch?v=XR92x0mWJRA

    MIL OSI Video –

  • MIL-OSI United Kingdom: Mayor to be grilled on final budget for 2025-26

    Source: Mayor of London

    The Mayor is responsible for overseeing a budget of over £20 billion, and published his final Draft Consolidated Budget for 2025-26 on Monday 17 February.1

    Key changes from the original draft Consolidated Budget published last month include:

    • Gross additional funding of £130m, however £26m of this has been allocated to cover the additional NI costs introduced by the Government on all employees across the Greater London Authority (GLA) Group in the Autumn 2024 Budget, which has not been covered by further funding.
    • The additional funding is mainly from further Government funding for policing of £73m, business rates £39m, and council tax £14m.
    • The policing funding includes a one-off grant of £50m in 2024-25 that will be carried forward to spend in 2025-26.
    • The majority of the additional funding has been allocated to the Mayor’s Office for Policing and Crime (MOPAC) which receives £83m.

    MOPAC has announced a projected net reduction of 1,479 officers by March 2026 and cuts to the Mounted branch, Dogs unit and closure of the Royal Parks Operational Command Unit. However, further calculations will be made to reflect the additional £83m announced in the Mayor’s final Draft Consolidated Budget.2

    Tomorrow, the London Assembly Budget and Performance Committee will meet to question the Mayor on his final draft budget.

    Guests include:

    • Sir Sadiq Khan, Mayor of London
    • David Bellamy, Mayor’s Chief of Staff
    • Fay Hammond, Chief Finance Officer, GLA

    The meeting will take place on Thursday 20 February from 10am, in the Chamber at City Hall, Kamal Chunchie Way, E16 1ZE.

    Media and members of the public are invited to attend.

    The meeting can also be viewed LIVE or later via webcast or YouTube.

    Follow us @LondonAssembly.

    MIL OSI United Kingdom –

  • MIL-OSI: Broctagon Partners with Level2 to Simplify Strategy Creation for AXIS CRM Brokers

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Feb. 19, 2025 (GLOBE NEWSWIRE) —

    Level2 and Broctagon Partner to Bring No-Code Automated Trading to Brokers Using AXIS CRM
    This innovative collaboration aims to simplify the strategy creation process for brokers and all their traders currently using Broctagon’s AXIS CRM platform.

    Level2’s intuitive no-code EA solution allows traders of all experience levels to easily create, deploy, and automate strategies using a fully visual, drag-and-drop approach. This no-code approach eliminates the need for technical expertise, enabling traders to configure strategies, analyse performance, and execute trades with ease. By integrating Level2’s capabilities, brokers utilising Broctagon’s AXIS CRM – known for its multi-tier IB module, prop trading features, and API app marketplace – will now be able to offer their traders cutting-edge automated trading tools that drive engagement and unlock greater market potential.

    Key Features for Active Traders:

    • No-Code, Visual Strategy Creation: Level2’s platform allows traders to configure and deploy strategies through an intuitive interface, without any coding skills required.
    • Real-Time Backtesting: Traders can instantly test their strategies using historical data, gaining valuable insights to optimise performance and make data-driven decisions in real time.
    • Seamless Analysis to Execution: With Level2’s visual tools, traders can connect market insights directly to execution, streamlining the entire trading process for increased efficiency.
    • Collaborative Social Trading: Level2 introduces a community-driven approach to trading, where users can share, follow, and collaborate on strategies, enhancing engagement and empowering traders of all skill levels.

    “Broctagon is a forward-thinking organisation that prioritises innovation. Through this partnership, we’ve created a solution that will make technical analysis and fully automated trading more accessible than ever before, giving Axis CRM brokers a competitive edge to captivate traders and drive demand” — Andrew Grevett, Co-founder & CEO of Level2. “Algorithmic trading has traditionally been reserved for those with coding expertise, creating a barrier for many traders. Level2’s no-code EA builder removes that barrier, revolutionising the way traders of all skill levels access and implement automated strategies. By partnering with Level2, Broctagon reinforces its commitment to innovation, empowering all AXIS FX CRM brokers with cutting-edge automation tools that drive engagement, retention, and trading volume” — Don Guo, Founder & CEO of Broctagon

    About Level2
    Level2 is a pioneering technology company focused on transforming the way active traders engage with financial markets. Through its intuitive, fully visual platform, Level2 simplifies strategy creation and automation for traders of all experience levels, eliminating the need for complex coding or technical expertise. With a commitment to innovation and accessibility, Level2 is helping shape the future of active trading by making professional-grade tools available to a broader audience, driving smarter, more efficient trading.

    About Broctagon Fintech Group
    Broctagon Fintech Group is a leading multi-asset liquidity and FX technology provider headquartered in Singapore, with over 15 years of global presence in Hong Kong, Malaysia, India, Cyprus, Thailand, and China. We specialize in performance-driven, bespoke solutions, serving over 350 clients in more than 50 countries with our liquidity aggregator technology, brokerage and prop trading solutions, and enterprise blockchain development.

    Users can experience Level2 now or contact us to arrange a personalised demonstration.

    Contact

    Co-founder & CEO
    Andrew Grevett
    Level2
    andrew@trylevel2.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fe7bd9b0-2951-46f0-b696-453b6ae50c34

    The MIL Network –

  • MIL-OSI: Taitiko Announces Strategic Update: New Real-Money Competitions to Launch on Taitiko ARENA

    Source: GlobeNewswire (MIL-OSI)

    FAMAGUSTA, Cyprus, Feb. 19, 2025 (GLOBE NEWSWIRE) — Taitiko, the emerging leader in Web3 gaming, is poised to make a major announcement today, unveiling the upcoming launch of real-money competitions on its popular Taitiko ARENA platform. With over 100,000 active users already engaged in skill-based mini-games via Telegram, the introduction of real-money competitions will elevate the gaming experience, offering players the opportunity to earn tangible rewards in exchange for their skills and achievements.

    This milestone is part of Taitiko’s ongoing strategy to create a sustainable, player-centric ecosystem within the Web3 space. “We’re committed to prioritizing genuine player engagement and innovation, not just speculative tokenomics,” said Alex Pei Fresneda, spokesperson for Taitiko. “The new real-money competitions will enhance the fun and competition in our platform while ensuring that users can benefit directly from their gaming experience.”

    A New Era for Taitiko ARENA

    As part of Taitiko’s broader vision, the integration of real-money competitions will provide a dynamic new avenue for players to showcase their abilities and compete against a global community. The update, set for release in the coming weeks, will enhance the user experience by adding financial stakes to the already competitive and skill-driven environment of Taitiko ARENA.

    “We want to give players an opportunity to turn their skills into real rewards,” Fresneda added. “This update is just the beginning of a series of exciting developments for Taitiko in 2025.”

    Strengthening Industry Position

    Taitiko’s growth is fueled by its strategic partnerships with prominent entities such as DEXTools, Tonstation Games, SidusPad, and Decubate. These collaborations have enhanced Taitiko’s technological capabilities and broadened its reach within the blockchain and gaming communities, setting the stage for further expansion.

    Additionally, the ongoing development of Taitiko Party, a multiplayer desktop game for both Windows and Mac, is progressing at full speed, with the game nearing completion at 80%. Taitiko’s upcoming token launch and plans for a year-long NFT collection further underscore its commitment to delivering both immersive experiences and long-term growth in the Web3 gaming space.

    About Taitiko

    Taitiko is at the forefront of revolutionizing the gaming industry with its innovative approach to Web3 gaming, focusing on player engagement, strategic partnerships, and a sustainable business model. With a growing user base and a clear roadmap, Taitiko aims to lead the next wave of blockchain-powered gaming experiences.

    For more information on Taitiko, visit Taitiko.com.

    Media Contact:

    Alex Pei Fresneda
    info@taitiko.com

    Taitiko Official Website
    Taitiko on X
    Taitiko on Telegram

    Disclaimer: This content is provided by Taitiko. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered as financial, investment, or trading advice. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/9ac8e0b1-58f1-4721-bee1-cb461d9f6966

    https://www.globenewswire.com/NewsRoom/AttachmentNg/fc3dad94-8f4b-4788-8381-a9feac2b9e9f

    The MIL Network –

  • MIL-OSI Africa: African ministers hold strategic dialogue on visa-free movement to propel regional integration agenda for Africa’s Transformation

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

    ADDIS ABABA, Ethiopia, February 19, 2025/APO Group/ —

    On the sidelines of the 38th African Union Summit, African leaders discussed obstacles to the continent’s economic integration, underscoring visa-free movement to reduce illegal migration and strengthen official travel channels. 

    The high-level dialogue, convened by the African Development Bank Group and the African Union Commission alongside the AU Summit, brought together trade ministers and business leaders who pointed to Rwanda’s experience as evidence that open borders enhance, rather than compromise, security. 

    African Development Bank Group Vice President for Regional Development, Integration and Business Delivery Nnenna Nwabufo expressed the Bank’s continued commitment to supporting the acceleration of visa-free movement across the continent.  

    “We do it for its promise to transform Africa and to create prosperity,” she noted. “In fact, the goals of our new Ten‑Year Strategy (2024–2033) are designed around seizing Africa’s opportunities for a prosperous, inclusive, resilient, and integrated continent.” 

    In his keynote address, Albert Muchanga, Commissioner for Economic Development, Trade, Tourism, Industry and Minerals at the African Union Commission, outlined four priority areas to open up the continent.  

    They include liberalizing the movement of categories of people critical for trade in goods and services, implementing the Strategic Framework on Key Actions to Achieve Inclusive Growth and Sustainable Development in Africa, advancing to the next stage of African economic integration, particularly the African Common market, as envisaged under the 1991 Abuja Treaty, and establishing the appropriate facilitation measures, whether soft or hard infrastructure, to facilitate free movement of persons. 

    Commissioner Muchanga stressed the need to make more progress on some continental projects, such as the trans-African highways (Cairo to Cape and Dakar to Mombasa), to facilitate free movement of persons. 

    Presenting the “State of play in visa-free movement in Africa,” which featured findings from the latest edition of the AfricaVisa Openness Index, AVOI, Principal Regional Integration Coordinator at the African Development Bank’s Regional Integration Coordination Office, Ometere Omoluabi-Davies, highlighted the progress made by some countries regarding opening up their borders for Africans. 

    The presentation reported that 39 African countries have improved their scores since 2016, indicating that visa openness across Africa is at its highest level since the inception of the index. Despite this inspiring trajectory, it was observed that there is still much room for progress to facilitate the unrestricted mobility of Africans within the continent. 

    Rwanda Minister of Trade and Industry Prudence Sebahizi shared his country’s experience and economic gains from implementing a visa-free regime.  

    “Rwanda does not agree with the usual excuse of security threats that accompany visa-free discussions because what is important is to invest in the systems, security, governance, monitoring,” he declared. 

    “In the end, people who travel for tourism and business will always use the official channels such as the borders and airports. This means the policy itself cannot contribute to security concerns but rather solve the issue of smuggling and illegal migration.” 

    The event featured roundtable discussions in which Africa’s policymakers and business leaders shared insights on implementing visa-free movement across the continent. With a resounding call to action, African Union’s Youth Envoy, Chido Mpemba, emphasized that the interconnectedness of young people through social media and the internet enables experience sharing and cross-border collaboration. She noted that this was critical for building the social and cultural integration needed to create a shared African identity. 

    The session concluded with a joint announcement of the 2025 Visa-Free Roadshow by Dr. Joy Kategekwa, Director of the Regional Integration Coordination Office of the African Development Bank Group, and Dr. Sabelo Mbokazi, Head of Employment, Labor and Migration Division of the African Union Commission. 

    This roadshow aims to sustain advocacy and mobilize action for visa openness and free movement within Africa’s broader regional integration agenda to deliver better results for all Africans. 

    MIL OSI Africa –

  • MIL-OSI China: Beijing’s ‘two zones’ initiative gathers momentum in 2024

    Source: China State Council Information Office 3

    In 2024, Beijing achieved significant strides in building the Integrated National Demonstration Zone for Greater Service Sector Openness, and the China (Beijing) Pilot Free Trade Zone (FTZ) – together referred to as the “two zones.” According to the Beijing Municipal Commerce Bureau, the city added 7,187 new projects, and implemented 85.7% of the tasks outlined in the State Council-approved work plan. 

    By the end of 2024, the total number of projects under the “two zones” initiative reached 9,945, with the estimated investment totaling 1.02 trillion yuan (US$140.6 billion). 

    The city’s number of newly established foreign-invested companies rose by 16.4% year on year, outpacing the national growth rate by 6.5 percentage points. Eight globally renowned pharmaceutical companies such as Lilly and Pfizer established R&D and innovation centers in Beijing last year.

    The China (Beijing) FTZ attracted 39.9% of the city’s total utilized foreign investment in 2024, marking an increase of 20.6 percentage points from the previous year. 

    As part of its efforts to promote opening up, the FTZ established the nation’s first specialized area within the Tianzhu Comprehensive Bonded Zone for importing rare disease drugs unavailable in domestic markets. 

    Since April 11, 2024, more than 1,400 doses of medication for children with achondroplasia have been imported through the Tianzhu Comprehensive Bonded Zone to Beijing Children Hospital of Capital Medical University, said an official from the zone. 

    Tianzhu Comprehensive Bonded Zone ranked second in the country, according to assessment of the General Administration of Customs in 2023. 

    Additionally, Beijing explored pilot projects in sectors such as value-added telecommunications businesses and pharmaceuticals. The city also released the nation’s first negative list to facilitate the export of key industry data.

    This year, Beijing will draft the third version of its work plan for the service sector demonstration zone, aiming to promote a higher level of openness.

    MIL OSI China News –