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Category: Business

  • MIL-OSI Global: Sustainable economic growth in South Africa will come from renewables, not coal: what our model shows

    Source: The Conversation – Africa – By Andrew Phiri, Associate Professor of Economics, Nelson Mandela University

    Coal fired power stations produce 85% of South Africa’s electricity, making the country the biggest producer of harmful greenhouse-gas emissions in Africa. To move away from coal and meet its commitment to reaching net zero emissions by 2050, South Africa needs to dramatically increase production of renewable energy. New research by economics associate professor Andrew Phiri looked at the relationship between renewable and non-renewable energy consumption and GDP growth in South Africa to find out which energy source is most compatible with economic development.

    Non-renewables, renewables and economic growth: what’s there to know?

    We set out to discover whether renewable energy in South Africa, such as wind or solar power, supports sustainable economic growth. We also wanted to find out if renewables can replace non-renewable energy as a source and enabler of economic growth.

    Together with student Tsepiso Sesoai, I did research comparing the impact of renewable and non-renewable energy on economic growth in South Africa.

    South Africa currently faces a dual challenge when it comes to energy. It is heavily dependent on non-renewable energy (coal), which also worsens global warming and speeds up climate change. But it desperately needs to grow the economy at a faster rate, given very high unemployment, poverty and inequality.

    It’s therefore important to find out whether South Africa would be able to make a smooth transition from non-renewable energy to cleaner energy, and grow the economy at the same time.

    Past studies have looked into the role of energy in South Africa’s economic growth, but their methods have provided only limited information about whether South Africa can make a smooth transition from dirty to clean energy.



    Read more:
    African economic expansion need not threaten global carbon targets: study points out the path to green growth

    To get a deeper understanding, we conducted a modelling exercise. We used an analytical tool called “continuous complex wavelets” to see how renewable and non-renewable energy influences growth over time.

    Our model shows that an increased supply and higher consumption of non-renewable energy causes long-term economic growth over 10-15 year cycles. Renewables, at best, have short-term growth effects over six months to one year.

    After 2000, there was a very sharp increase of almost 25% in the use of renewable energy throughout the decade. According to our model, this sharp increase was enough to have an impact on economic growth over the short term but not over the long term.

    This is because South African energy regulators have not adopted strong enough measures for renewable energy to enable long-term growth. They have not funded the mass rollout of renewable energy, or connected renewables to the national grid. We found that renewables can only sustain growth over six to 12 month cycles whereas policymakers work towards longer cycles such as the 2030 and 2050 sustainable development goals.

    Economic growth and coal consumption: what did you find?

    In 2003, the government started taking climate change seriously with the release of the White Paper on Renewable Energy. The government started intentionally trying to increase the use of renewable energy while decreasing the use of dirty energy, such as coal. Before this, South Africa’s economic growth was heavily driven by coal consumption.

    Renewable energy saw its biggest surge after the 2010 launch of the Renewable Energy Independent Power Producer Procurement Programme. This opened competitive bidding for renewable energy providers to supply electricity to the grid.

    The transition to renewable energy had begun. But coal-fired power, while declining, remained the main source of electricity.

    In 2019 carbon taxes were formally introduced. This resulted in a further slowdown in consumption of non-renewable energy. The COVID-19 pandemic in 2020 and 2021 coincided with severe power cuts. These two events combined caused a general slowdown in non-renewable and renewable energy use, and in economic growth.

    At this point, the drop in coal consumption was actively dragging down the economy. This in turn reduced society’s income, as measured by the gross national product. And because incomes were constrained, fewer private households purchased renewable energy systems. People didn’t spend on solar panels.

    What do your findings mean?

    Our research suggests that relying on non-renewable energy, like coal, won’t lead to long-term growth for South Africa. This is because non-renewables are not a reliable source of energy, as shown by loadshedding.

    Our research further suggests that renewable energy policies, subsidies and programmes made some positive short-term impacts on economic growth, measured as gross domestic product.

    Overall, our findings highlight that policymakers have treated renewables as a “nice-to-have” gesture for humanity, instead of a key driver of long-term economic growth.

    This has led to weak policies, poor regulation, and under-investment in renewable energy. These have held the sector back from making a bigger contribution to economic growth.



    Read more:
    Africa doesn’t have a choice between economic growth and protecting the environment: how they can go hand in hand

    For example, the government has not taken renewables seriously enough to include them in the power grid. This has largely limited the use of renewable energy to private homes and businesses. Coal-fired electricity from the country’s power utility, Eskom, is still cheaper for households than leaving the grid and purchasing their own renewable energy infrastructure (solar energy systems). The government has not funded the infrastructure needed to unlock South Africa’s vast renewable energy potential.

    The planet is at a critical state with global warming. The government should urgently set up policies and actions to overcome the barriers to using renewable energy. Only then will renewable energy have a permanent, positive influence on economic growth.

    South Africa has huge potential in renewables like solar, wind and biomass, thanks to its diverse geography. Yet, when people think about moving away from coal, they worry about job losses in the coal industry. But historically, energy transitions have never been instant. African countries that embraced the change early on reaped the benefits. They became more industrialised and prosperous.

    The South African government must act now if it wants to use renewable energy to drive future economic growth and stay ahead in the global shift to clean energy. Climate change affects us deeply. But it also presents a chance for Africa to leap ahead technologically.

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

    – ref. Sustainable economic growth in South Africa will come from renewables, not coal: what our model shows – https://theconversation.com/sustainable-economic-growth-in-south-africa-will-come-from-renewables-not-coal-what-our-model-shows-239339

    MIL OSI – Global Reports –

  • MIL-OSI NGOs: Cameroon: Greenpeace Africa calls on the covernment to cancel the decree creating Ma Mbed Mbed Park

    Source: Greenpeace Statement –

    Yaoundé, 12-02-2025 – In 2020, the Cameroonian government issued a decree establishing Ma Mbed Mbed Park, covering an area of more than 12,000 hectares. This decree has sparked reactions from local communities, who have taken to the streets demanding its cancellation. They fear the project could lead to conflicts between humans and wildlife, particularly elephants, and result in the loss of their land. They also criticize the government for not sufficiently consulting them during the decision-making process.

    Professor Ngoussandou Bello Pierre, National Coordinator of Jag Sir, the National Toupouri Cultural Association, said:
    “The Toupouri community believes this is a scheme against their land and their livelihoods. Elephants do not distinguish between ethnic groups, religions, or professions—their presence is a threat to everyone, including the BIR camp, which is less than 12 km away. Kidnappers frequently operate in Taibong and Guidiguis before seeking refuge in a protected area in Chad. Expanding this area with the new park would only worsen insecurity. The government must acknowledge its mistake and revoke the decree to ease tensions. Given the determination of the local population, if the government persists, the extermination of elephants will become inevitable.”

    Cameroon’s Far North is already facing significant challenges, particularly concerning security, and is one of the regions most affected by climate change. Last year, it experienced multiple waves of flooding. Food insecurity remains a persistent issue.

    Dr. Lamfu Fabrice, Forest Campaigner at Greenpeace Africa, said:
    “This park was created to combat climate change and promote social and professional integration—objectives that are commendable. However, the project significantly reduces the land and resources available to local populations. This is why their essential role in the sustainable management of their land and environment must be recognized. When decisions are made without their free, prior, and informed consent, it can unfortunately lead to delicate situations like this one. We call on the government to reconsider the project. This is one threat too many for the people of the Far North.”

    This protest follows a similar demonstration that took place a few weeks ago in the southern region, where local residents of the Camvert project in Campo took to the streets, demanding that the company revise its specifications. According to the residents, the document does not sufficiently account for their rights. The current situation in the Far North presents similar challenges to those faced by the people of Campo, particularly regarding human-wildlife conflicts, land grabbing, and the lack of consultation with local communities before project development.

    Media Contacts:

    Luchelle Feukeng
    Communications and Storytelling Manager, Greenpeace Africa
    Email: [email protected]
    Telephone: +237 656 46 35 45 (WhatsApp)
    Greenpeace Africa Newsdesk: [email protected] 

    Dr. Lamfu Fabrice
    Forest Campaigner, Greenpeace Africa
    Email: [email protected]
    Telephone: +237 678 06 57 58

    MIL OSI NGO –

  • MIL-OSI: FDCTech, Inc. Announces Intention to Apply for Uplisting to a Senior Exchange

    Source: GlobeNewswire (MIL-OSI)

    The Company believes uplisting to a senior exchange will enhance liquidity, expand our investor base, and provide greater access to capital markets 

    Irvine, CA, Feb. 12, 2025 (GLOBE NEWSWIRE) — FDCTech, Inc. (“FDC” or the “Company,” PINK: FDCT), a fintech-driven company specializing in acquiring and integrating small—to mid-size legacy financial services firms, proudly announces that that it has engaged Lucosky Brookman LLP to assist the Company in exploring an uplisting to a senior national securities exchange such as the Nasdaq Capital Market or the New York Stock Exchange (NYSE).

    The Company’s engagement of Lucosky Brookman marks a significant step toward enhancing shareholder value and increasing market visibility. As part of this process, FDCTech intends to submit an application for uplisting and work toward meeting the stringent regulatory and financial requirements necessary for listing on a senior exchange.

    However, there is no assurance that the Company will ultimately meet the listing requirements or that the uplisting application will be approved. Currently, FDCTech does not meet the necessary financial and regulatory criteria for uplisting, and there is no guarantee that it will do so in the future.

    Please visit our SEC filings or the Company’s website for more information on the full results and management’s plan.

    FDCTech, Inc.

    FDCTech, Inc. (“FDC”) is a regulatory-grade financial technology infrastructure developer designed to serve the future financial markets. Our clients include regulated and OTC brokerages and prop and algo trading firms of all sizes in forex, stocks, CFDs, commodities, indices, ETFs, precious metals, and other asset classes. Our growth strategy involves acquiring and integrating small to mid-size legacy financial services companies, leveraging our proprietary trading technology and liquidity solutions to deliver exceptional value to our clients.

    Press Release Disclaimer

    This press release’s statements may be forward-looking statements or future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets, and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. The Company does not make any representation or warranty, express or implied, regarding the accuracy, completeness, or updated status of such forward-looking statements or information provided by the third party. Therefore, in no case will the Company and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or any related damages.

    Contact Media Relations
    FDCTech, Inc.
    info@fdctech.com
    www.fdctech.com
    +1 877-445-6047
    200 Spectrum Center Drive, Suite 300,
    Irvine, CA, 92618

    The MIL Network –

  • MIL-OSI: Hanmi Bank Sponsors Southern California Wildfire Relief SBA Seminar in Partnership with the SBA Los Angeles District Office and the YMCA

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, Feb. 12, 2025 (GLOBE NEWSWIRE) — Hanmi Financial Corporation (Nasdaq: HAFC) (“Hanmi”), the holding company for Hanmi Bank, today announced it hosted a Small Business Administration (SBA) disaster assistance seminar for homeowners, renters, nonprofits, and businesses of all sizes affected by the recent Los Angeles wildfires in partnership with the YMCA of LA. Hanmi and SBA Los Angeles District office personnel provided timely information regarding the various programs available and were on hand to answer questions and assist impacted community members with the application process.

    The Los Angeles County Economic Development Corporation estimates that approximately 1,860 small businesses and 11,430 jobs located within the fire burn zones were potentially impacted.

    In conjunction with the event, Hanmi Bank and the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) presented the YMCA and the Korean American Federation of Los Angeles (KAFLA) with a $30,000 check each. Hanmi’s portion of the donations included employee contributions and company matching funds.

    Anna Chung, Chief SBA Lending Officer at Hanmi Bank, said, “As a Los Angeles-headquartered community bank, we want to help the residents and businesses of our city get back on their feet as quickly as possible. Providing opportunities for those impacted by the fires to speak directly with SBA personnel and guide them through the relief application process is an important step in this journey. We know the road to recovery will be a long one and we will continue to identify ways to provide assistance and serve as a trusted resource.”

    To make the funding available to the YMCA and KAFLA, Hanmi Bank partnered with FHLBank San Francisco in its wildfire relief and recovery matching funds initiative that is part of a suite of tools and resources that are available to help its member financial institutions address both urgent needs and longer-term recovery efforts in local communities. These tools and resources include discounted credit programs that support affordable housing, economic development, and community revitalization efforts.

    “We are thankful to all of the first responders for their bravery and perseverance in battling the devastating wildfires in Southern California that destroyed over 10,000 homes, thousands of businesses, and displaced tens of thousands of people,” said Joe Amato, interim president and CEO, and chief financial officer with FHLBank San Francisco. “As the region begins a lengthy rebuilding effort, we will continue to serve and engage with our members, including Hanmi Bank, and community stakeholders to deliver much needed grants and funding to local organizations that serve a vital role in local community relief and recovery efforts.”

    The seminar took place on February 11th at the Anderson Munger Family YMCA Community Room in Koreatown. The Koreatown YMCA has been playing a central role in supporting victims across the entire YMCA metropolitan Los Angeles area. Representatives from the SBA Los Angeles District Office introduced the various types of SBA disaster loan programs available to impacted individuals and business owners.

    About Hanmi Financial Corporation
    Headquartered in Los Angeles, California, Hanmi Financial Corporation owns Hanmi Bank, which serves multi-ethnic communities through its network of thirty-one full-service branches and eight loan production offices in California, Texas, Illinois, Virginia, New Jersey, New York, Colorado, Washington, and Georgia. Hanmi Bank specializes in real estate, commercial, SBA and trade finance lending to small and middle market businesses. Additional information is available at www.hanmi.com.

    Contact
    Juanita Gutierrez
    Vice President
    Financial Profiles, Inc.
    310-622-8235
    JGutierrez@finprofiles.com

    Source: Hanmi Bank

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f8ec975c-dc8b-4524-ab07-89412c7e2156

    The MIL Network –

  • MIL-OSI: Safe Harbor Financial Originates $1,500,000 Secured Credit Facility for Missouri Cannabis Operator

    Source: GlobeNewswire (MIL-OSI)

    GOLDEN, Colo., Feb. 12, 2025 (GLOBE NEWSWIRE) — SHF Holdings, Inc., d/b/a Safe Harbor Financial (“Safe Harbor” or the “Company”) (NASDAQ: SHFS), a fintech leader in facilitating financial services and credit facilities to the regulated cannabis industry, announced the closing of a $1,500,000 secured credit facility for a Missouri-based cannabis operator. This transaction marks the second tranche of a $5,000,000 loan funding package aimed at refinancing expensive senior debt across four retail dispensaries in Missouri. An initial tranche of $1.07 million was originated on October 29, 2024.

    “Safe Harbor Financial is dedicated to supporting cannabis operators with robust and compliant financial solutions through our financial institution partners that mirror those available through traditional banking sources,” said John Foley, Senior Vice President, Commercial Lending at Safe Harbor Financial. “This credit facility exemplifies our commitment to delivering competitive market interest rates and favorable loan terms, allowing cannabis businesses to efficiently manage debt and focus on growth.”

    With a focus on competitive market pricing, Safe Harbor Financial structured the financing package to deliver optimal lending terms for the borrower. The deal underscores the Company’s ability to provide bank-quality lending solutions tailored specifically for cannabis operators, further reinforcing its leadership in cannabis financial services.

    Terry Mendez, Co-CEO of Safe Harbor Financial added: “This latest financing demonstrates Safe Harbor’s commitment to offering competitive market pricing and tailored financial solutions that support the long-term stability of cannabis operators. Capitalizing our ability to structure favorable loan terms, we empower cannabis businesses to thrive in an evolving marketplace. Safe Harbor remains dedicated to offering cannabis operators and the financial services they need to grow, while simultaneously delivering sustainable value to our investors through a strong and diversified credit portfolio.”

    This latest transaction reinforces Safe Harbor Financial’s ongoing mission to expand access to capital for cannabis businesses, an industry that has historically faced significant banking and lending challenges. By leveraging strong deposit relationships, Safe Harbor Financial continues to pioneer comprehensive financial services that meet the unique needs of the regulated cannabis market.

    About Safe Harbor
    Safe Harbor is among the first service providers to offer compliance, monitoring and validation services to financial institutions, providing traditional banking services to cannabis, hemp, CBD, and ancillary operators, making communities safer, driving growth in local economies, and fostering long-term partnerships. Safe Harbor, through its financial institution clients, implements high standards of accountability, transparency, monitoring, reporting and risk mitigation measures while meeting Bank Secrecy Act obligations in line with FinCEN guidance on cannabis-related businesses. Over the past decade, Safe Harbor has facilitated more than $25 billion in deposit transactions for businesses with operations spanning more than 41 states and US territories with regulated cannabis markets. For more information, visit www.shfinancial.org.

    Cautionary Statement Regarding Forward-Looking Statements
    Certain information contained in this press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included herein may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties. Forward-looking statements may include, but are not limited to, statements with respect to trends in the cannabis industry, including proposed changes in U.S. and state laws, rules, regulations and guidance relating to Safe Harbor’s services; Safe Harbor’s ability to issue loans in the same or similar fashion; Safe Harbor’s growth prospects and Safe Harbor’s market size; Safe Harbor’s projected financial and operational performance, including relative to its competitors and historical performance; new product and service offerings Safe Harbor may introduce in the future; the impact volatility in the capital markets, which may adversely affect the price of Safe Harbor’s securities; the outcome of any legal proceedings that may be instituted against Safe Harbor; and other statements regarding Safe Harbor’s expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “outlook,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. 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. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in Safe Harbor’s filings with the U.S. Securities and Exchange Commission. Safe Harbor undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.

    Contact Information
    Safe Harbor Investor Relations
    ir@SHFinancial.org

    KCSA Strategic Communications
    Ellen Mellody
    safeharbor@kcsa.com

    The MIL Network –

  • MIL-OSI: Clear Street Expands UK Leadership Team with Key Senior Hires

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 12, 2025 (GLOBE NEWSWIRE) — Clear Street, (“Clear Street”, “the Company”) a cloud-native financial technology firm on a mission to modernise the brokerage ecosystem, today announced key leadership hires as part of its continued expansion in the UK.

    These senior hires reflect the Company’s commitment to strengthening its presence in the UK and Europe. Clear Street welcomes the following leaders to its UK team:

    • Tarquin Orchard – Global Head of Event-Driven Strategies
    • Matthew Cyzer – Head of Markets, Execution
    • Phillip Hylander – Managing Director, Execution
    • Stuart Holt – Managing Director, Client Distribution and Strategy, Equities
    • Luke Holmes – Managing Director, Sales Trading

    The moves illustrate the continued migration of talent to Clear Street from a number of traditional financial services institutions including Goldman Sachs, Deutsche Bank, Bank of America and more. The UK team has now grown to more than 40 professionals, actively hiring across business areas including equities execution, equity finance and product and systems engineering.

    Ed Tilly, CEO of Clear Street, commented, “Establishing a strong presence in the UK is a natural step in our global growth and the addition of these leaders is another major step as we activate our mission. Our success in the US illustrates that our client-centric approach sets us apart, and we remain eager to listen to our clients and expand where they want to see us grow. Clear Street continues to attract top tier talent, ensuring our clients are in the best hands every step of the way.”

    Jacinda Fahey, CEO of Clear Street UK and Europe, commented, “We are building a sustainable business in the UK with scalable infrastructure to ensure we continue delivering innovative solutions tailored to our clients’ needs.   These leadership appointments reflect our dedication to hiring top-tier talent and driving long-term success.”

    This announcement follows Clear Street’s recent UK launch and FCA approval, as well as recently launched Category 1 membership with the London Metal Exchange (LME). To learn more about Clear Street’s UK expansion, please refer to the official launch announcement.

    About Clear Street:

    Clear Street is modernising the brokerage ecosystem with financial technology and services that empower market participants with real-time data and best-in-class products, tools and teams, to navigate capital markets around the world. Complemented by white-glove service, Clear Street’s cloud-native, proprietary product suite delivers financing, derivatives, execution and more to power client success, adding efficiency to the market and enabling clients to minimize risk, redundancy and cost. Clear Street’s goal is to create a single platform for every asset class, in every country and in any currency. For more information, visit https://clearstreet.io.

    Press Contact:
    Clear Street – press@clearstreet.io

    Clear Street does not provide investment, legal, regulatory, tax, or compliance advice. Consult professionals in these fields to address your specific circumstances. These materials are: (i) solely an overview of Clear Street’s products and services; (ii) provided for informational purposes only; and (iii) subject to change without notice or obligation to replace any information contained therein.

    Products and services are offered by Clear Street LLC as a Broker Dealer member FINRA and SIPC and a Futures Commission Merchant registered with the CFTC and member of NFA. Additional information about Clear Street is available on FINRA BrokerCheck, including its Customer Relationship Summary and NFA BASIC | NFA (futures.org).

    Copyright © 2025 Clear Street LLC. All rights reserved. Clear Street and the Shield Logo are Registered Trademarks of Clear Street LLC

    The MIL Network –

  • MIL-OSI Global: LA flash flood watch: Rain on wildfire burn scars can trigger destructive debris flows − a geologist explains how

    Source: The Conversation – USA – By Jen Pierce, Professor of Geosciences, Boise State University

    A debris flow channel in a severely burned watershed in Idaho. Amirhossein Montazeri/Boise State University, CC BY-ND

    As the Los Angeles area begins cleaning up from devastating wildfires, city officials and emergency managers are worried about what could come next. The National Weather Service issued a flash flood watch for the region for Feb. 13, 2025, when the heaviest rain from an atmospheric river is forecast.

    Rain on burned hillslopes can trigger dangerous floods and debris flows. Those debris flows can move with the speed of a freight train, picking up or destroying anything in their path. They can move tons of sediment during a single storm, as Montecito, just up the coast from Los Angeles, saw in 2018.

    What causes debris flows, sometimes called mudflows, and why are they so common and dangerous after a fire? I am a geologist whose research focuses on pyrogeomorphology, which is how fire affects the land. Here’s what we know.

    How debris flows begin

    When severe fires burn hillslopes, the high heat from the fires, sometimes exceeding 1,000 degrees Fahrenheit (538 degrees Celsius), completely destroys trees, shrubs, grass and structures, leaving behind a moonscape of gray ash. Not only that, the heat of the fire actually burns and damages the soil, creating a water-repellent, or hydrophobic, layer.

    What once was a vegetated hillslope, with leaves and trees to intercept rain and spongy soils to absorb water, is transformed into a barren landscape covered with ash, and burned soil where water cannot soak in.

    Illustrations show how fire can change the soil and landscape.
    National Weather Service

    When rain does fall on a burned area like this, water mixes with the ash, rocks and sediment to form a slurry. This slurry of debris then pours downhill in small gullies called rills, which then converge to form bigger and bigger rills, creating a torrent of sediment, water and debris rushing downhill. All this debris and water can transform small streams and usually dry gullies into a danger zone.

    Because the concentration of sediment is so high, especially when there is a large amount of ash and clay, debris flows behave more like a slurry of wet cement than a normal stream. This fluid can pick up and move large boulders, cars, trees and other debris rapidly downhill.

    A firefighter walks through knee-deep mud while checking for victims after a debris flow hit Montecito, Calif., in January 2018.
    Wally Skalij/Los Angeles Times via Getty Images

    In January 2018, a few weeks after the Thomas fire burned through the hills above Montecito, a storm triggered debris flows that killed 23 people and damaged at least 400 homes.

    What controls size and timing of debris flows

    The geography of the land, burn severity, storm intensity and soil characteristics all play important roles in if, when and where debris flows occur.

    Fire and debris flow scientists with the U.S. Geological Survey use these variables to create models to predict the likelihood and possible hazards from postfire debris flows. They are already developing maps to help residents, emergency managers and city officials prepare and predict postfire debris flows in 2025 burn areas in Los Angeles.

    The U.S. Geological Survey modeled debris flow risks after the Palisades Fire near Los Angeles. The map shows some of the highest-risk areas if hit by 15 minutes of rain falling at just under 1 inch (24 millimeters) per hour.
    USGS

    Some of the triggers of debris flows are literally part of the landscape.

    For example, the slope angle in a watershed and the amount of clay in the soil are important. Watersheds with gentle slopes – generally less than about 23 degrees – and a lack of clay and silt-sized particles are unlikely to produce debris flows.

    Other key factors that contribute to postfire debris flows relate to the proportion of the watershed that is severely burned and the intensity and duration of the rainstorm event.

    Early important research in the field of pyrogeomorphology demonstrated that while large, intense storms are more likely to cause large, intense debris flows, even small rainstorms can produce debris flows in burned areas.

    Debris flows are becoming more common

    A whopping 21.8 million Americans live within 3 miles of where a fire burned during the past two decades, and that population more than doubled from 2000 to 2019. A recent study from central and northern California indicates that nearly all the observed increases in area burned by wildfires in recent decades are due to human-caused climate change.

    The warming climate is also increasing the likelihood of more extreme downpours. The amount of moisture the atmosphere can hold increases by about 7% per degree Celsius of warming, leading to more intense downpours, particularly from ocean storms. In California, scientists project increases in rainfall intensity of 18% will result in an overall 110% increase in the probability of major debris flows.

    Jon Frye, of Santa Barbara Public Works, shows what happened in the January 2018 Montecito debris flow and why the risks to downslope communities would continue for several years. Source: County of Santa Barbara, 2018.

    Studies using models of fire, climate and erosion rates estimate that the amount of sediment flowing downhill after fires will increase by more than 10% in nine out of every 10 watersheds in the western U.S.

    Even without rain, debris on fire-damaged slopes can be unstable. A small slide in Pacific Palisades shortly after a fire burned through the area split a home in two. A phenomenon called “dry ravel” is a dominant form of hillslope erosion following wildfires in chaparral environments in Southern California

    Preparing for debris flow risks

    Research on charcoal pieces from ancient debris flows has shown fires and erosion have shaped Earth’s landscape for at least thousands of years. However, the rising risk of wildfires near populated areas and the potential for increasingly intense downpours mean a greater risk of damaging and potentially deadly debris flows.

    As their populations expand, community planners need to be aware of those risks and prepare.

    This article, originally published Jan. 23, 2025, has been updated with a flash flood watch issued.

    Jen Pierce receives funding from the National Science Foundation and is the chair of the Quaternary Geology and Geomorphology division of the Geological Society of America.

    – ref. LA flash flood watch: Rain on wildfire burn scars can trigger destructive debris flows − a geologist explains how – https://theconversation.com/la-flash-flood-watch-rain-on-wildfire-burn-scars-can-trigger-destructive-debris-flows-a-geologist-explains-how-247770

    MIL OSI – Global Reports –

  • MIL-OSI: Form 8.3 – [LEARNING TECHNOLOGIES GROUP PLC – 11 02 2025] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 LEARNING TECHNOLOGIES GROUP PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 04 FEBRUARY 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 0.375p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 9,641,106 1.2166    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 9,641,106 1.2166    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    0.375p ORDINARY SALE 3,620 99.2p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 12 FEBRUARY 2025
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI: Form 8.3 – [CRIMSON TIDE PLC – Opening Disclosure – 11 02 2025] – (CGAML)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY ASSET MANAGEMENT LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 CRIMSON TIDE PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 11 FEBRUARY 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 NO

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 10p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 720,000 10.9508    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 720,000 10.9508    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    None      

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 12 FEBRUARY 2025
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI: LeddarTech Reports Fiscal First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    QUEBEC CITY, Canada, Feb. 12, 2025 (GLOBE NEWSWIRE) — LeddarTech® Holdings Inc. (“LeddarTech”) (Nasdaq: LDTC), an automotive software company that provides patented disruptive AI-based low-level sensor fusion and perception software technology, LeddarVision™, today provided a corporate update and announced financial results for the fiscal first quarter ended December 31, 2024.

    “2025 is off to a very exciting start for LeddarTech, as we continue to make substantial progress on our strategic plan. In fiscal Q1, we announced our collaboration and license agreement with Texas Instruments (“TI”), a premier semiconductor partner in the automotive space. Following that, we recently announced our first OEM design win from a major commercial vehicle OEM,” said Frantz Saintellemy, President and CEO of LeddarTech. “These commercial successes demonstrate strong validation by industry leaders of our products and are accelerating interest from potential customers and partners across the ADAS and AD landscape, building on our already substantial pipeline of opportunities.”

    Recent Business and Technology Highlights

    • Announced first OEM design win for LeddarVision. One of the world’s leading commercial vehicle OEMs has selected LeddarTech as the fusion and perception software supplier for their advanced driver assistance system (ADAS) program for 2028 model year vehicles. We expect to start generating engineering services revenue this fiscal year (FY2025).
    • Received US$8 million advanced royalty payments from TI. In January, LeddarTech received the second advanced royalty payment of US$3 million as part of its collaboration and license agreement with TI. This is in addition to the US$5 million received in December 2024.
    • Raised US$11.3 million under a standby equity purchase agreement (SEPA). In January, LeddarTech raised US$1.1 million (CA$1.4 million) by selling 600,000 shares at an average price of US$1.76. This is in addition to the US$10.2 million (CA$14.4 million) raised in fiscal Q1 2025 by selling 6.6 million shares at an average price of US$1.55 per share.
    • Conducted successful CES participation. LeddarTech completed a strong showing at the 2025 Consumer Electronics Show (CES), including the successful demonstration of LeddarVision Surround (LVS-2+) software utilizing TI TDA4VH-Q1 processor.
    • Announced listing transfer to Nasdaq Capital Market. Via this transfer, LeddarTech had cured the Nasdaq deficiencies and met the applicable listing standards.
    • Received ISO/IEC 27001 certification. LeddarTech proudly announced that the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) have awarded LeddarTech ISO/IEC 27001 certification, a key requirement for automotive customers.

    Customer Traction and Development

    LeddarTech has a robust pipeline of over 30 active opportunities with original equipment manufacturers (OEMs) and Tier 1 automotive suppliers to support consumer demands for improved safety features and satisfy upcoming regulatory deadlines.

    During 2025, LeddarTech will continue to develop two new, revenue-generating products that are designed to accelerate revenue and adoption of LeddarVision. More information will be shared on these products when available.

    Fiscal First Quarter 2025 Financial Highlights1

    Revenue: Revenue from continuing operations for the fiscal first quarter of 2025, ending December 31, 2024, was $51,900, compared to $52,000 in the fiscal quarter ending December 31, 2023. Revenue excludes our discontinued modules and components business.

    Net loss: Net loss for the fiscal first quarter of 2025, ending December 31, 2024, was $27.0 million, compared to a net loss of $61.5 million in the fiscal quarter ending December 31, 2023, representing a 56% decrease, primarily due to transaction costs that were incurred in fiscal Q1, 2024 and did not reoccur in 2025.

    EBITDA and adjusted EBITDA2:  EBITDA loss for the fiscal first quarter of 2025, ending December 31, 2024, was $22.1 million, compared to a $60.3 million loss in the fiscal quarter ending December 31, 2023, representing a 63% decrease, primarily due to transaction costs that were incurred in fiscal Q1, 2024 and did not reoccur in 2025. Adjusted EBITDA loss for the fiscal first quarter of 2025, ending December 31, 2024, was $11.1 million, compared to adjusted EBITDA loss of $8.6 million in the fiscal quarter ending December 31, 2023, representing a 11% increase, primarily due to a change in the amount of capitalized development costs.

    Continuing operations Q1-2025
    		   Q1-2024
    		  
    Revenues $51,878   $52,000  
    Loss from operations (13,218,705)   (63,912,986)  
    Finance costs, net 13,746,884   (2,422,558)  
    Loss before income taxes (27,012,529)   (61,490,428)  
    Net loss and comprehensive loss (27,012,664)   (61,490,428)  
    Net loss and comprehensive loss attributable to Shareholders of the Company (27,012,664)   (61,188,116)  
    Loss per share    
    Net loss per share (basic and diluted) (in dollars) (0.86)   (17.06)  
    Weighted average common shares outstanding (basic and diluted) 31,483,617   3,587,572  
    EBITDA (loss) (22,059,095)   (60,290,981)  
    Adjusted EBITDA (loss) (11,143,209)   (8,572,571)  
             

    The following table sets forth a reconciliation of adjusted EBITDA and EBITDA to net loss reported in accordance with IFRS for the three months ended December 31, 2024 and 2023.

      Q1-2025
    		   Q1-2024
    		  
    Net loss from continued operations ($27,012,664)   ($61,490,428)  
    Deferred income taxes 135   –  
    Depreciation of property and equipment 170,977   189,639  
    Depreciation of right-of-use assets 112,822   108,365  
    Amortization of intangible assets 165,134   137,112  
    Interest expenses 4,504,501   764,330  
    EBITDA loss from continuing operations (22,059,095)   (60,290,981)  
         
    Foreign exchange loss (gain) 3,635,140   (67,715)  
    Loss (gain) on revaluation of financial instruments carried at fair value 5,602,056   (2,963,283)  
    Gain on lease modification –   (166,661)  
    Stock-based compensation 1,678,690   (5,985,250)  
    Listing expense –   59,139,572  
    Transaction costs –   1,761,747  
    Adjusted EBITDA loss from continuing operations (11,143,209)   (8,572,571)  
             

    Balance Sheet and Liquidity3

    As of December 31, 2024, LeddarTech’s consolidated cash and cash equivalents balance totaled $17.7 million, compared to $5.3 million on September 30, 2024. Subsequent to the end of the quarter, the Company raised approximately $5.9 million, using a recent exchange rate of 1.43 Canadian dollars per US dollar. This included a US$3 million advance royalty payment from Texas Instruments and US$1.1 million from the sale of stock issuance under our standby equity purchase agreement or SEPA. LeddarTech’s cash balance as of Monday, February 10, 2025, was approximately $15.9 million.

    Non-IFRS Financial Measures

    A non-IFRS financial measure is a financial measure used to depict our historical or expected future financial performance, financial position or cash flow and, with respect to its composition, either excludes an amount that is included in, or includes an amount that is excluded from, the composition of the most directly comparable financial measure disclosed in Company’s consolidated primary financial statements.

    In Q2-2024, the Company started to use two new non-IFRS financial measures because we believe these non-IFRS financial measures are reflective of our ongoing operating results and provide readers with an understanding of management’s perspective on and analysis of our performance.

    Below are descriptions of the non-IFRS financial measures that we use to explain our results and reconciliations to the most directly comparable IFRS financial measures.

    EBITDA (loss) is calculated as net earnings (loss) before interest expenses (income), deferred income taxes, depreciation of property and equipment, depreciation of right-of-use assets and amortization of intangible assets.

    EBITDA (loss) should not be considered an alternative to net loss in measuring performance or used as a measure of cash flow.

    Adjusted EBITDA (loss) is calculated as EBITDA (loss), adjusted for foreign exchange gain (loss), loss (gain) on revaluation of financial instruments carried at fair value, gain or loss on lease modification, share‐based compensation, listing expense, transaction costs, restructuring costs and impairment loss on intangible assets.

    About LeddarTech

    A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.

    LeddarTech is responsible for several remote-sensing innovations, with over 170 patent applications (87 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.

    Additional information about LeddarTech is accessible at www.leddartech.com and on LinkedIn, Twitter (X), Facebook and YouTube.

    Forward-Looking Statements

    Certain statements contained in this Press Release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which forward-looking statements also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements relating to LeddarTech’s selection by the OEM referred to above, anticipated strategy, future operations, prospects, objectives and financial projections and other financial metrics and ability to comply with Nasdaq Capital Market listing standards in the future. 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 “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend” and other similar expressions among others. 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 and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation, our ability to continue to maintain compliance with Nasdaq continued listing standards following our transfer to the Nasdaq Capital Market, as well as: (i) the risk that LeddarTech and the OEM referred to above are unable to agree to final terms in definitive agreements; (ii) the volume of future orders (if any) from this OEM, actual revenue derived from expected orders, and timing of revenue, if any; (iii) our ability to timely access sufficient capital and financing on favorable terms or at all; (iv) our ability to maintain compliance with our debt covenants, including our ability to enter into any forbearance agreements, waivers or amendments with, or obtain other relief from, our lenders as needed; (v) our ability to execute on our business model, achieve design wins and generate meaningful revenue; (vi) our ability to successfully commercialize our product offering at scale, whether through the collaboration agreement with Texas Instruments, a collaboration with a Tier 2 supplier or otherwise; (vii) changes in our strategy, future operations, financial position, estimated revenues and losses, projected costs and plans; (viii) changes in general economic and/or industry-specific conditions; (ix) our ability to retain, attract and hire key personnel; (x) potential adverse changes to relationships with our customers, employees, suppliers or other parties; (xi) legislative, regulatory and economic developments; (xii) the outcome of any known and unknown litigation and regulatory proceedings; (xiii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak of war or hostilities and any epidemic, pandemic or disease outbreak, as well as management’s response to any of the aforementioned factors; and (xiv) other risk factors as detailed from time to time in LeddarTech’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risk factors contained in LeddarTech’s Form 20-F filed with the SEC. The foregoing list of important factors is not exhaustive. Except as required by applicable law, LeddarTech does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

    Contact:
    Chris Stewart, Chief Financial Officer, LeddarTech Holdings Inc.

    Tel.: + 1-514-427-0858, chris.stewart@leddartech.com

    Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

    LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”

    1    All amounts in Canadian dollars except where otherwise noted.

    2    EBITDA and adjusted EBITDA are non-IFRS measures and are presented by the Company as they are used to assess operating performance. These non-IFRS measures do not have standardized meanings under IFRS and are not likely comparable to similarly designated measures reported by other corporations. The reader is cautioned that these measures are being reported in order to complement, and not replace, the analysis of financial results in accordance with IFRS. See “Non-IFRS Financial Measures” below.

    3    All amounts in Canadian dollars except where otherwise noted.

    The MIL Network –

  • MIL-OSI Europe: The European Financial Industry of the Future | 6. Frankfurt Digital Finance Conference & European Fintech Day

    Source: Deutsche Bundesbank in English

    Check against delivery.
    Ladies and gentlemen,
    I’m glad to join you today at the “Gesellschaftshaus Palmengarten”. Its history goes back to the 19th century. It was the “Gründerzeit” or “founders’ period” – an era of strong economic expansion in Germany – when this building was constructed. And when Germany was developed as an industrial location. Developed by people, men and women, lead by curiosity, innovation, and a desire to achieve.
    We have to cast our minds back a few years to see times of growth, real innovation and increasing productivity in Europe.
    1 The role of the financial industry
    In the 2010s Germany had a period of solid growth that some called “the golden decade”. 
    Today, however, we see a need for growth and increasing productivity. Hence, our competitiveness is at stake. Not only in Germany, but also in other parts of Europe. And this comes at a time, when we are facing numerous major challenges:
    Consider the significant geopolitical uncertainties of our time – which make a rethink necessary in many respects. Also consider the digitalisation of large parts of our economy, incl. disruptive AI. And think about the climate-related need for an ecological transformation.
    Financing all of this requires a substantial amount of capital.
    This is where the financial industry comes in: The financial industry can act as an enabler of growth in the real economy. Growth that is so much needed right now.
    Looking forward, the financial industry could translate growth potential into real growth in many fields – digitalisation, AI, clean tech, pharma, biotech any many more.
    In sum, there are huge business opportunities for Germany and the EU. And we need the Financial industry to take advantage of the business opportunities. 
    But let us not forget that innovation happens in many places – at start-ups but also at well established companies. We need to make sure that a variety of funding sources are available to support our real economies.
    We need a specific financial ecosystem that enables young, innovative companies to flourish. Be it VC, PE, etc. We need established capital markets. Above all, we need a strong and healthy banking sector that supplies our economy with sufficient credit.
    That means: We need both traditional loans and venture capital. In any case, all the pockets of the financial industry provide the basis for a growing economy. It’s also the basis for the ecological transformation. 
    The German Council of Experts on Climate Change published [a week ago] new figures on the investment needs estimated for the transition towards net-zero economic activity. Those investment needs range between 135 and 255 billion euro – each year for Germany alone.[1] That’s a lot.
    Let’s now have a closer look at the digitalization including AI.
    2 Artificial intelligence: innovation and competitiveness
    The term artificial intelligence (AI) was coined in the middle of the 20th century. But it was the release of ChatGPT in November 2022 that marked a breakthrough. For the first time it became possible to use an AI system without detailed technical knowledge.
    Nowadays almost anyone can use AI. The importance of responsible AI practices on the increase – as highlighted in the latest Declaration by the G20.[2]
    There are important questions – to which, to be honest, there are no simple answers:
    Are the opportunities and risks of AI balanced? 
    Does AI lead to a global fragmentation, to a new barrier between those who use AI and those who don’t? 
    Does AI, as a general-purpose technology, help us better manage economic challenges?[3]
    One example of the latter point: Many societies are lacking skilled labour due to demographic change. Here, the use of AI could provide a solution by increasing efficiency or substituting human services. AI can also help drive innovation. 
    AI enables both incremental and disruptive innovation across all parts of society: 
    by facilitating faster decision-making
    optimizing existing processes, 
    or by collecting, processing and using huge amounts of data.

    It fosters creativity, supports scientific breakthroughs, and unlocks opportunities for entirely new industries and business models – a potential, albeit disruptive, growth engine.
    Nevertheless, human creativity is still a key driver of innovation. In 2023, individuals or SMEs filed almost one in four patent applications in Europe.[4]
    Today, we are at a crucial stage: With international competition on the one side and technical and intellectual skills on the other. AI models from the United States are well-known and often considered state of the art. China in particular has recently come up with new and apparently very efficient language models. However, the discussion about the background is not yet complete.
    In Europe, we have to do our utmost to keep up with the pace. An important initiative recently came from France: In Paris the “EU AI Champions Initiative”, a high-level summit, was held at the beginning of this week.
    President Macron mentioned a funding volume of roundabout € 109 billion for AI in France. This approach is very encouraging for other EU member states. By comparison: US-President Trump has mentioned USD 500 billion for his “Stargate” plan in the US. 
    Despite these substantial investments, there is no guarantee of success. On the other hand, we must not allow ourselves to be deterred by possible failures. One example is the French AI chatbot LUCIE, which has been taken offline after giving some weird answers. I am sure France will take this as a chance to try even harder.
    The narrative with all kind of innovation is: Accept failure to grow. The pioneers of the “Gründerzeit” – which I mentioned earlier – knew this only too well.
    We need this kind of courage to embrace a “culture of trial and error”. It provides an important impetus to do things better. On the other hand, we have to ensure that new technology does not cause severe damage. Especially because AI is a relatively new technology with unknown potential and consequences for the entire society.
    Risks can arise for the financial system, but much further afield as well. Imagine, risk management or investment advice would be provided mainly by AI. Would this mean that investment recommendations are becoming more and more similar? Would we have concentration of risks? And what consequences would this have for financial stability?[5]
    Even more far-reaching questions concern our society.
    The core question is: What does AI mean for our democracies, for our constitutions, for our fundamental rights? Specifically, we need to ask ourselves: Where is AI beneficial and where do we need clear rules.
    In other words: What are the basic rules for using this technology?
    It is therefore necessary to find a compromise between having the courage to innovate – and clear rules.
    3 Strengthening the financial industry
    Regardless of how we deal with AI, we have to return to the issue of financing its development. As indicated earlier, the financial industry, as an enabler, has an important role to play.
    Given the challenges of our time I mentioned earlier, it is vital to strengthen the European financial industry. 
    Let me highlight only two measures:
    First, we need to get started on improving start-up funding. In 2024, more than 2,700 innovative start-ups were founded in Germany, the second-highest count after the record year of 2021. There is no shortage of innovative concepts and entrepreneurship per se, but implementation is lacking. 
    Further completing the European capital markets union (CMU) is essential in this respect – promoting the development of the VC and private equity market as well as exit options for start-ups. The European Commission’s “Competitiveness Compass”, published recently, 29 January 2025, is a good start. 
    Second, we need to leverage digital technologies to create efficient, integrated and resilient European financial markets. The digital CMU could be a game changer in this respect. 
    Let me make it perfectly clear: Europe is a leader in this field. 
    We at the Bundesbank are engaged in several initiatives. And we have a prominent role to play in the development of a central bank digital currency (wholesale CBDC).
    4 Conclusion
    Ladies and gentlemen, let me sum up: And I can be very brief, but still to the point.
    The European Financial industry has to become an enabler of growth. Our Financial industry is key to ensure that the European economy stays competitive. 
    Thank you very much. 

    MIL OSI

    MIL OSI Europe News –

  • MIL-OSI Europe: The EBA publishes its final draft technical standards to implement a centralised EBA Pillar 3 data hub

    Source: European Banking Authority

    The European Banking Authority (EBA) today published its final draft Implementing Technical Standards (ITS) on the Pillar 3 data hub for large and other institutions, which will centralise prudential disclosures by institutions through a single electronic access point on the EBA website. This project is part of the Banking Package laid down in the Capital Requirements Regulation (CRR3) and Capital Requirements Directive (CRD6).

    The ITS detail the IT solutions and processes to be followed by large and other institutions when submitting their respective Pillar 3 disclosures. This includes the IT solutions to be used, the data exchange formats to be considered and the technical validations to be performed by the EBA. The EBA will provide additional detailed information to the submitters of Pillar 3 information in the onboarding communication plan it expects to publish by the end of the first quarter of 2025.

    To submit the information to the EBA, institutions will benefit from a transition period for the information with disclosure reference dates from June to December 2025. This will give them enough time to prepare for the new publication process.

    In parallel, the EBA finalised a pilot exercise on a voluntary basis to test the process for large and other institutions. When finalising the draft ITS, the EBA has taken on board the conclusions from this pilot exercise, together with the feedback received during the consultation phase.

    Legal basis, backgrounds and next steps

    The new Banking Package (CRR3/CRD6), which will implement the latest Basel III reforms in the EU, includes a mandate to the EBA to develop a Pillar 3 data hub. The EBA’s plan on how to implement the mandates included in the Banking Package is explained in the ‘EBA Roadmap on strengthening the prudential framework’, published in December 2023.

    The CRR3 (Articles 434 and 434a) mandates the EBA to publish on its website the prudential disclosures for all institutions subject to such requirements, making it readily available in a centralised manner to all the relevant stakeholders through a single electronic access point on its website. To comply with this mandate, the EBA is building a data hub putting together all the disclosures required under Part Eight of the CRR.

    The draft ITS for small and non-complex institutions and on the resubmission policy will be subject to a separate consultation, intended to be launched in the first half of 2025.

    MIL OSI Europe News –

  • MIL-OSI USA: UConn Waterbury Poised for Expansion with New Building’s Imminent Opening

    Source: US State of Connecticut

    UConn Waterbury’s local footprint is growing significantly with the expansion of several of its academic, research, and administrative operations into a historic building adjacent to the downtown campus.

    The six-story building at 36 N. Main St. has undergone extensive renovation by Green Hub Development III, LLC., which is leasing about 26,300 square feet to UConn to expand the University’s offerings in nursing, allied health, and other programs.

    UConn has been moving equipment and furnishings into the building and started using some of the space already over the winter, with the rest to be occupied starting later this month.

    They include clinic-style nursing and health care simulation rooms, research facilities, study lounges, office and administrative space, a spacious former banquet room, and other areas suitable for maker space, incubator studios, classes, and large gatherings.

    UConn’s plan to expand its nursing education programs into the building is particularly noteworthy given the high demand in that profession, both statewide and specifically in Waterbury and the Naugatuck Valley region.

    “UConn Waterbury’s expansion into this historic space is an investment in our students, faculty, and the greater community,” says Fumiko Hoeft, UConn Waterbury’s campus dean and chief administrative officer, and a neuroscientist and UConn professor of psychological sciences.

    The Odd Fellows Building at 36 N. Main St. in Waterbury sits around the corner from the UConn Waterbury campus on Jan. 27, 2025. About 26,300 square feet of the building’s interior was recently renovated to provide additional space for various programs at UConn Waterbury. (Sydney Herdle/UConn Photo)

    “With the new facilities, we are strengthening our role as an educational and economic driver in the Naugatuck Valley,” she says. “We are honored to be part of this building’s next chapter. Its transformation aligns with our commitment to innovation, workforce development, and community partnerships.”

    The growth of UConn Waterbury’s campus and academic offerings complements the UConn Strategic Plan, which includes ensuring that the campuses in Waterbury, Hartford, Stamford, and Avery Point offer signature programs that are destinations within UConn.

    “The spirit of every UConn campus is unique, and we are looking closely at their academic offerings and facilities to best build on those strengths and opportunities, in alignment with our university-wide strategic plan,” says Anne D’Alleva, UConn’s provost and executive vice president for academic affairs.

    “At UConn Waterbury, the new space fits perfectly with that vision,” she adds. “Our academic programs and research will grow and thrive there, and further underscore UConn’s role as a core element of this richly diverse, innovative city and region.”

    UConn’s Board of Trustees approved the expansion plans in 2023, which are part of a larger commitment to strengthen the University’s presence and partnerships in the Naugatuck Valley.

    They include UConn’s deep involvement in the Waterbury Promise scholarship program, under which many dozens of Waterbury graduates are attending the University; and the establishment and growth of the allied health sciences major on the campus.

    UConn Waterbury also prides itself on providing a tight-knit community that serves students’ individual needs while ensuring they can access world-class UConn programs in undergraduate and graduate-level fields that lead to strong, satisfying career paths.

    “The demand for skilled professionals is higher than ever. UConn Waterbury’s expansion directly aligns with our mission to prepare students for high-demand careers, ensuring that our regional workforce remains strong and competitive,” says Cathy Awwad, president and chief executive officer of the Northwest Regional Workforce Investment Board (NRWIB).

    UConn Waterbury’s new space in the building at 36 N. Main St. will also be ideal for serving current students while also advancing community partnerships with schools, the City of Waterbury, the regional business community, and other groups.

    The six-story building, originally built for the local chapter of the International Order of Odd Fellows social group, is in a prime downtown location and dates to 1895.

    Its renovation was funded through a state grant to the City of Waterbury along with Green Hub’s private funding. It was modernized for today’s needs while retaining key elements of its history, including Venetian Gothic exterior features overlooking the Waterbury Green and the ornate ceiling in its former banquet hall.

    “This project has been years in the making, and seeing it come to life is a testament to UConn’s commitment to Waterbury and the region,” says former Waterbury Mayor Neil O’Leary, who was deeply involved in the project and other partnerships with the University during and after his time in office.

    “This expansion is more than just a physical footprint; it’s an investment in the next generation of healthcare professionals, entrepreneurs, and community leaders,” he says.

    The building is around the corner from UConn Waterbury’s East Main Street location, with easy access between the back courtyard of the campus and an entrance to the newly leased space.

    It will house clinical simulation spaces, clinical and cognitive neuroscience research dry and wet laboratories, a maker space, and an incubator studio.

    It will also provide resources for humanities and social sciences, including the HACER Lab, a hub for humanistic inquiry, research, and pedagogy developed in collaboration with Waterbury students and community partners, the Ideas + Impact initiative and other learning communities focused on social impact, sustainability, and health-related projects.

    These facilities will be used by programs in nursing, allied health, psychological sciences, urban and community studies, humanities and social sciences, business, and community partnerships.

    Additionally, it will serve as the home for the Haskins Global Literacy Hub, a newly formed partnership between Yale, UConn Global Affairs, and UConn Waterbury focused on promoting education and conducting cutting-edge research to enhance literacy globally.

    A large nursing simulation lab with equipment sits on the fifth floor of the Odd Fellows Building in Waterbury on Jan. 27, 2025. About 26,300 square feet of the building’s interior was recently renovated to provide additional space for various programs at UConn Waterbury. (Sydney Herdle/UConn Photo)

    “Having UConn expand in downtown Waterbury strengthens our local economy, creates new opportunities for students, and enhances the city’s reputation as a center for education and innovation. This project is a great example of how partnerships between the city, state, and private sector can drive meaningful change,” Waterbury Mayor Paul Pernerewski says.

    Programs and activities in the space will also advance UConn Waterbury’s connections with local schools and others as a location for community events.

    For instance, on a recent morning, scores of local high school students visited UConn Waterbury for the kickoff of the Waterbury Robotics Institute to be based at the campus. The initiative, a collaboration with First Robotics, will bring students from the city’s high schools and middle schools to campus to work on projects with their peers, UConn students, and UConn faculty mentors.

    They were among the first to use the newly leased space at 36 N. Main St., with several of the student groups testing and demonstrating their robots in the large collaborative learning room on the building’s second floor.

    “This expansion will have a lasting impact not only on UConn students, but also on Waterbury’s middle and high schoolers who aspire to pursue careers in healthcare, technology, business, and other growing fields,” says Waterbury Public Schools Interim Superintendent Darren Schwartz.

    “The increased access to cutting-edge learning spaces and mentorship opportunities will strengthen our student college and career readiness,” he says.

    The Odd Fellows Building has a rich history in the City of Waterbury, and its restoration and use by UConn carries strong emotional and economic significance to the area.

    Built at a cost of $100,000 and said to be among the finest of its time in the region, the building’s opening in 1895 drew more than 5,000 members of the group from around the East Coast and was featured in the New York Times.

    In fact, the opening was marked by a parade and the event was so important to the city that all factories and schools were closed for the day, and all business shut down at noon, according to another Times article.

    A clothing store occupied the first floor for about its first five years in addition to the meeting rooms and social spaces used by the Odd Fellows and others on the higher floors. Later, the popular Grieve, Bissett & Holland department store was in the building from 1902 until the mid-1960s.

    The structure had been unused for more than 15 years before the renovation.

    “Restoring this landmark building and giving it a new purpose has been incredibly rewarding,” says Joe Gramando, Green Hub’s managing partner. “UConn’s presence here ensures that this space will remain a vibrant part of Waterbury’s future, serving students, researchers, and the broader community for years to come.”

    MIL OSI USA News –

  • MIL-OSI: BigCommerce Strengthens Leadership Team with New Chief Revenue and Chief Marketing Officers

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, Feb. 12, 2025 (GLOBE NEWSWIRE) — BigCommerce (Nasdaq: BIGC), a leading provider of open, composable commerce solutions for B2C and B2B brands and retailers, today announced the additions of Rob Walter as its chief revenue officer and Michelle Suzuki as company’s chief marketing officer.

    Walter is a seasoned revenue leader with 20 years of ecommerce experience leading sales and go-to-market teams at successful companies including Salesforce, Ebay, ChannelAdviser and Amplience.

    Suzuki brings more than 25 years of experience scaling and transforming high-growth companies, including renowned technology companies such as EMC, Ancestry and Ivanti.

    “These additions strengthen BigCommerce’s senior leadership team and reflect our commitment to investing in top talent to help us achieve our goals across BigCommerce, Feedonomics and Makeswift,” said Travis Hess, CEO of BigCommerce. “Their experience and expertise will be huge contributors to the success of the company as we refocus on reigniting growth and improving shareholder value.”

    Walter is an accomplished revenue growth and go-to-market executive with a proven track record of scaling teams, driving innovation and achieving exceptional revenue outcomes across the technology and retail sectors. With over two decades of leadership experience in sales, marketing, customer success and professional services, Walter has been instrumental in the growth and success of globally recognized organizations.

    He previously spent six years as chief revenue officer at Amplience, a leading CMS provider and most recently at OroCommerce, a B2B ecommerce solution provider. At both companies Walter led strategy and oversaw sales, marketing, customer success and professional services operations. Under his leadership, Amplience and OroCommerce experienced significant growth.

    “Ecommerce businesses today need to reach their customers in new and dynamic ways,” Walter said. “BigCommerce offers brands and retailers the flexibility to customize and meet their customers wherever they may be, and I look forward to working with our current customers and new ones to help them reach their goals.”

    As CMO of BigCommerce, Suzuki defines strategy and builds high-performing teams responsible for demand generation, customer marketing, partner marketing, digital marketing, content, communications, social media and global regional marketing.

    Previously, Suzuki was CMO at Glassbox, where she led strategy and oversaw a comprehensive suite of marketing functions including brand strategy, digital transformation, demand generation, content marketing, marketing operations, customer engagement, communications/social media and product marketing. Previously, she was senior vice president of global marketing at Instructure, where she was instrumental in transforming the company’s international regions into rapid-growth SaaS businesses. In 2021, she helped lead the company to a successful $3 billion IPO. She has extensive M&A experience—diligence, acquisition and integration—having completed more than 10 transactions in her career.

    “I pride myself on being a data-centric growth marketer who harnesses the combination of creativity, content and data to connect with and delight customers through high-value, customized experiences,” she said. “I’m excited to join BigCommerce at this important time to help lead its return to fast growth and long-term success.”

    About BigCommerce

    BigCommerce (Nasdaq: BIGC) is a leading open SaaS and composable ecommerce platform that empowers brands, retailers, manufacturers and distributors of all sizes to build, innovate and grow their businesses online. BigCommerce provides its customers sophisticated professional-grade functionality, customization and performance with simplicity and ease-of-use. Tens of thousands of B2C and B2B companies across 150 countries and numerous industries rely on BigCommerce, including Coldwater Creek, Harvey Nichols, King Arthur Baking Co., MKM Building Supplies, United Aqua Group and Uplift Desk. For more information, please visit www.bigcommerce.com or follow us on X and LinkedIn.

    BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners.

    Media Contact:
    Brad Hem
    pr@bigcommerce.com

    The MIL Network –

  • MIL-OSI: Nametag Introduces VerifiedHire™ to Combat North Korean Remote IT Worker Fraud

    Source: GlobeNewswire (MIL-OSI)

    SEATTLE, Feb. 12, 2025 (GLOBE NEWSWIRE) — Nametag, the leading provider of integrated identity verification and account protection solutions, today announced VerifiedHire™, a groundbreaking solution for secure employee onboarding and initial credentialing. VerifiedHire combats North Korean IT workers and other remote worker fraud schemes using Nametag’s revolutionary Deepfake Defense™ identity verification (IDV) engine, ensuring that only legitimate users gain access to enterprise networks and applications.

    Nation State Actors Are Exploiting Insecure Hiring Practices to Infiltrate Global Enterprises
    Investigations have uncovered numerous programs to place Democratic People’s Republic of Korea (DPRK)-affiliated operatives into remote IT jobs within U.S. and global enterprises. This enables the country to avoid international sanctions, funnel money to weapons development programs, and steal secrets. Hundreds of western enterprises have been compromised; one program involving two front companies employing more than 130 DPRK IT workers has generated over $88 million for North Korea’s government. To combat these and other remote worker fraud schemes, Nametag created VerifiedHire.

    VerifiedHire Stops Fake IT Workers and Remote Worker Fraud
    Nametag’s solution prevents imposters from infiltrating corporate networks by replacing outdated, insecure initial credentialing procedures with robust identity assurance. New hires are directed to a self-service onboarding microsite, where they navigate intuitive workflows to verify their identity with Nametag’s Deepfake Defense engine. Verified hires can then set their passwords and enroll in multi-factor authentication (MFA) with their company’s identity provider(s). Imposters are prevented from gaining access, while security and risk teams gain crucial visibility into potential insider threats.

    “Employee onboarding is a gap in IT security that nobody has been able to figure out—except Nametag,” said the senior IT director at a top-ranked, publicly-traded biotechnology company. “VerifiedHire has transformed our employee onboarding experience. The ability for new hires to set up their own accounts without IT intervention is a game-changer. VerifiedHire is the only solution for employee onboarding and credentialing that delivers the level of identity security and assurance we require.”

    Key Features and Benefits

    • Prevents Infiltration: VerifiedHire is the first solution directly aimed at combating sophisticated remote worker fraud schemes, including deepfake-wielding nation-state threat actors.
    • Stops Contractor Fraud: Enterprises can use Nametag to quickly verify their extended workforce at scale, discovering imposters and revealing potential insider threats.
    • Eliminates Temporary Passwords: VerifiedHire replaces outdated, insecure temporary password delivery systems with an initial credentialing experience that’s modern, secure, and streamlined.
    • Powered by Deepfake Defense: VerifiedHire is built on Deepfake Defense, the only identity verification engine proven effective against modern, AI-powered impersonation threats.
    • Cost Savings: By deflecting new employee verification and initial credentialing to self-service, VerifiedHire creates substantial time and cost savings for IT and Human Resources departments.

    “Nametag’s launch of VerifiedHire underscores our continued commitment to creating end-to-end workforce account protection,” said Aaron Painter, CEO at Nametag. “Since every organization employs a unique approach to employee onboarding, we developed an out-of-the-box-solution that is easily customized to each enterprise’s workflows, software environments, and business requirements.”

    VerifiedHire fits seamlessly into enterprise onboarding workflows through plug-and-play integrations with Identity and Access Management (IAM) providers such as Okta, Microsoft Entra, Cisco Duo, and OneLogin. Nametag also integrates with IT Service Management (ITSM) platforms such as ServiceNow and Zendesk. Turnkey integrations with Human Resources Information Systems (HRIS) such as Workday are under development. Nametag’s platform supports a deep level of configuration and customization, including industry-leading privacy controls.

    Nametag VerifiedHire™ is available today. Visit getnametag.com to learn more and view a demo.

    About Nametag
    Nametag provides integrated identity verification and account protection solutions that prevent modern impersonation threats and streamline user experiences. Powered by Deepfake Defense™, Nametag detects and blocks sophisticated attacks which bypass other, outdated approaches to user verification, delivering the highest possible level of identity assurance. Nametag’s out-of-the-box solutions help enterprises secure their entire user account lifecycle, from onboarding through recovery, while ensuring compliance with the latest privacy standards. Security-conscious enterprises trust Nametag to protect their businesses and reduce IT and support costs. For more information, visit getnametag.com.

    Nametag Media Contact:
    Jennifer Schenberg
    PenVine for Nametag
    917-445-4454
    jennifer@penvine.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e7a13a7c-3efe-4e03-ae07-f395f05d3af5

    The MIL Network –

  • MIL-OSI: BOS to Present at the Emerging Growth Conference on February 18, 2025

    Source: GlobeNewswire (MIL-OSI)

    RISHON LE ZION, Israel, Feb. 12, 2025 (GLOBE NEWSWIRE) — BOS Better Online Solutions Ltd. (“BOS” or the “Company”) (NASDAQ: BOSC), an integrator of supply chain technologies, is pleased to announce that Eyal Cohen, Chief Executive Officer, will present at the Emerging Growth Conference on Tuesday, February 18, 2025, at 9:40 am Eastern Time.

    Mr. Cohen will provide an overview presentation and may subsequently open the floor for questions. Questions may be submitted in advance to Questions@EmergingGrowth.com.

    Investors can register in advance to attend the conference and receive any updates at: https://goto.webcasts.com/starthere.jsp?ei=1696664&tp_key=a17d7ff4c2&sti=bosc.

    If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available on EmergingGrowth.com and on the Emerging Growth YouTube Channel, http://www.YouTube.com/EmergingGrowthConference.

    About BOS.
    BOS integrates cutting-edge technologies to streamline and enhance supply chain operations across three specialized divisions:

    • Intelligent Robotics Division: Automates industrial and logistics inventory processes through advanced robotics technologies, improving efficiency and precision.
    • RFID Division: Optimizes inventory management with state-of-the-art solutions for marking and tracking, ensuring real-time visibility and control.
    • Supply Chain Division: Integrates franchised components directly into customer products, meeting their evolving needs for developing cutting-edge products.

    For more information about BOS, please visit https://www.boscom.com/.

    For additional information, contact:

    The MIL Network –

  • MIL-OSI: Uni-Fuels Awarded International Sustainability and Carbon Certifications, Reinforcing Commitment to Sustainable Marine Fuel Trading

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, Feb. 12, 2025 (GLOBE NEWSWIRE) — Uni-Fuels Holdings Limited (NASDAQ: UFG), (“Uni-Fuels” or the “Company”), a global provider of marine fuel solutions headquartered in Singapore, today announced that the Company’s wholly owned subsidiary, Uni-Fuels Pte Ltd (“Uni-Fuels Singapore”), has received both ISCC EU and ISCC PLUS certifications from the International Sustainability and Carbon Certification (ISCC), a globally recognized independent multi-stakeholder initiative and leading certification system supporting sustainable, fully traceable, deforestation-free and climate-friendly supply chains. These certifications highlight the Company’s commitment to sustainability and compliance with European Union (EU) regulations aimed at reducing greenhouse gas (GHG) emissions in the maritime industry.

    The ISCC certifications ensure that the biofuels traded by Uni-Fuels Singapore meet the requirements of the EU’s Renewable Energy Directive (RED II), including the provision of Proof of Sustainability (PoS). This important documentation ensures biofuels are sustainably sourced and produced, enabling full traceability from feedstock to final product.

    As the maritime sector moves toward greater decarbonization, it is essential for biofuel suppliers to demonstrate compliance with regulatory standards, including the EU Emissions Trading System (EU ETS) and FuelEU Maritime. PoS documentation ensures biofuels can be counted toward emissions reduction targets, as opposed to being treated as fossil fuels.

    Uni-Fuels Vice President, Operations Tan Guan Kai commented, “Achieving ISCC certifications demonstrates our commitment to supporting the global transition to cleaner fuels. With Proof of Sustainability documentation, we provide our customers with the assurance that the biofuels they rely on are responsibly produced and fully compliant with evolving regulations.”

    The PoS framework, combined with the ISCC EU and ISCC PLUS certifications, ensures customers that the biofuels they use are responsibly sourced, traceable, and produced with sustainability in mind. These certifications provide both regulatory compliance and enhanced transparency, helping to build trust in the biofuel market.

    About Uni-Fuels Holdings Limited

    Uni-Fuels is a fast-growing global provider of marine fuel solutions, helping shipping companies optimize fuel procurement across all markets and time zones. Founded in 2021, Uni-Fuels has evolved from modest beginnings into a dynamic, forward-thinking company. Backed by a passionate team and a growing presence across multiple locations, it has forged trusted partnerships with customers, supporting them in achieving their operational objectives with confidence, from shore to shore.

    For more information, visit www.uni-fuels.com.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the completion and timing of closing of the offering and the intended use of the proceeds. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning. Forward-looking statements represent Uni-Fuels’ current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, and other factors discussed in the “Risk Factors” section of the registration statement filed with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

    Contact Information

    For Investor Relations:

    Uni-Fuels Holdings Ltd
    Email: investors@uni-fuels.com

    Skyline Corporate Communications Group, LLC
    Email: info@skylineccg.com

    The MIL Network –

  • MIL-OSI: Intermex to Release Fourth Quarter and Full Year 2024 Earnings

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, Feb. 12, 2025 (GLOBE NEWSWIRE) — International Money Express, Inc. (NASDAQ: IMXI) (“Intermex” or the “Company”), a leading omnichannel money remittance services company, will release Fourth Quarter and Full Year 2024 earnings before the start of trading on Wednesday, February 26, 2025. The Intermex management team will be hosting a conference call on the same day at 9:00 AM ET.

    Interested parties are invited to join the conference and gain firsthand knowledge about Intermex’s financial performance and operational achievements through the following channels:

    • A live broadcast of the conference call may be accessed via the Investor Relations section of Intermex’s website at https://investors.intermexonline.com/.
    • To participate in the live conference call via telephone, please register HERE. Upon registering, a dial-in number and unique PIN will be provided to join the conference call.
    • Following the conference call, an archived webcast of the call will be available for one year on Intermex’s website at https://investors.intermexonline.com/.

    Investor Day Event

    On the same day, Intermex will host an Investor Day at The Westin New York at Times Square, beginning at 1:00 PM ET. Management will provide strategic updates, insights into key business areas, and future growth opportunities.

    The in-person event is open to institutional investors and research analysts. A live stream and supporting materials will be available for those unable to attend the live event at https://edge.media-server.com/mmc/p/5ymy6w9u. Please note that remote attendees will have listen-only access, as the Q&A session will be reserved for in-person attendees.

    To register for in-person attendance, contact Laurie Berman of PondelWilkinson at lberman@pondel.com or 310-279-5980.

    As part of its ongoing commitment to maximizing shareholder value, Intermex continues to evaluate strategic alternatives. This review may include, among other options, a potential sale, spin-off, or other strategic transaction. The process is ongoing, with no set deadline or definitive timeline for completion. There is no assurance that this review will result in any specific transaction or outcome.

    About International Money Express, Inc.
    Founded in 1994, Intermex applies proprietary technology enabling consumers to send money from the United States, Canada, Spain, Italy, the United Kingdom and Germany to more than 60 countries. The Company provides the digital movement of money through the Company’s website and mobile app, as well as through its network of agent retailers in the United States, Canada, Spain, Italy, the United Kingdom and Germany, and its Company-operated stores. Transactions are fulfilled and paid through thousands of retail locations and banks around the world. Intermex is headquartered in Miami, Florida, with international offices in Puebla, Mexico, Guatemala City, Guatemala, London, England, and Madrid, Spain. For more information about Intermex, please visit www.intermexonline.com.

    Investor Relations:
    Alex Sadowski
    Investor Relations Coordinator
    ir@intermexusa.com
    tel. 305-671-8000

    The MIL Network –

  • MIL-OSI: Apollo Funds Acquire Bold Production Services, a Leading Provider of Production-Linked Contracted Gas Treatment Solutions

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON and NEW YORK, Feb. 12, 2025 (GLOBE NEWSWIRE) — Apollo (NYSE:APO), today announced that funds managed by Apollo affiliates (the “Apollo Funds”) have acquired a majority interest in Bold Production Services, LLC (“Bold” or the “Company”), a provider of production-linked, contracted natural gas treatment solutions that enable the downstream use of natural gas, while reducing excess emissions and waste through proprietary equipment design.

    Founded in 2013, Bold’s fleet of 700+ owned assets, including dehydration units, H2S treating units and total flow coolers, serves a blue-chip customer base across the Permian and Eagle Ford basins. The investment from the Apollo Funds will support Bold’s continued growth as natural gas demand is expected to accelerate over the next decade, driven by secular trends associated with the industrial renaissance such as demand for power generation, LNG exports, data centers and other emerging natural gas applications. The Company will continue to be headquartered in Houston, Texas and led by Glen Wind, Chief Executive Officer, along with his team including Blake Maywald, President, Tim Burkett, Chief Financial Officer and Austin Traweek, Chief Operating Officer.

    Glen Wind, CEO of Bold, commented, “We are excited to work with Apollo in our efforts to continue serving our customers seeking reliable gas treatment solutions that help improve operational efficiency. Producers value high performance, scalable treatment services, and Bold remains committed to delivering best-in-class solutions that drive safer, cleaner operations with improved production yields and lower emissions. We look forward to building on our momentum alongside Apollo in the years ahead. We would like to acknowledge and thank the OFS Energy Fund team for their involvement and support in helping us reach this point.”

    Scott Browning, Partner at Apollo, said, “Bold has built a robust platform providing essential gas treatment solutions, with significant growth potential supported by strong customer relationships and attractive expansion opportunities. We are excited to partner with Glen, Blake and the rest of the Bold team in a market where we see the opportunity for significant investment given favorable secular tailwinds. Apollo brings deep expertise in the natural gas value chain and a proven track record supporting the growth of energy-related services that help to fuel the industrial renaissance.”

    Over the past five years, Apollo-managed funds and affiliates have committed, deployed, or arranged approximately $58 billioni into climate and energy transition-related investments, supporting companies and projects across clean energy and infrastructure.

    Vinson & Elkins LLP served as legal counsel to the Apollo Funds. Piper Sandler & Co. acted as financial advisor to Bold, and Troutman Pepper Locke, LLP served as Bold’s legal counsel. Bank OZK supported the transaction through a new credit facility.

    About Bold Production Services, LLC

    Bold Production Services, LLC is an oil & gas infrastructure resource company providing contract services in the treating and removal of impurities found in natural gas, oil, and water. Bold has grown its asset base to include production and treating equipment, as well as a non-triazine based H2S chemical scavenger. To learn more, please visit www.bps-llc.com.

    About Apollo Global Management, Inc.

    Apollo is a high-growth, global alternative asset manager. In our asset management business, we seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three investing strategies: yield, hybrid, and equity. For more than three decades, our investing expertise across our fully integrated platform has served the financial return needs of our clients and provided businesses with innovative capital solutions for growth. Through Athene, our retirement services business, we specialize in helping clients achieve financial security by providing a suite of retirement savings products and acting as a solutions provider to institutions. Our patient, creative, and knowledgeable approach to investing aligns our clients, businesses we invest in, our employees, and the communities we impact, to expand opportunity and achieve positive outcomes. As of December 31, 2024, Apollo had approximately $751 billion of assets under management. To learn more, please visit www.apollo.com.

    Contact Information

    Noah Gunn
    Global Head of Investor Relations
    Apollo Global Management, Inc.
    (212) 822-0540
    IR@apollo.com

    Joanna Rose
    Global Head of Corporate Communications
    Apollo Global Management, Inc.
    (212) 822-0491
    Communications@apollo.com

    ___________________________

    i As of December 31, 2024. The firmwide targets (the “Targets”) to deploy, commit, or arrange capital commensurate with Apollo’s proprietary Climate and Transition Investment Framework (the “CTIF”), are (1) $50 billion by 2027 and (2) more than $100 billion by 2030 The CTIF, which is subject to change at any time without notice, sets forth certain activities classified by Apollo as sustainable economic activities (“SEAs”), and the methodologies used to calculate contribution towards the Targets. Only investments determined to be currently contributing to an SEA in accordance with the CTIF are counted toward the Targets. Under the CTIF, Apollo uses different calculation methodologies for different types of investments in equity, debt and real estate. For additional details on the CTIF, please refer to our website here: https://www.apollo.com/strategies/asset-management/real-assets/sustainable-investing-platform.

    The MIL Network –

  • MIL-OSI: Introducing the American Federation Dollar (AFD): A Gold-Backed Digital Currency Transforming Global Finance

    Source: GlobeNewswire (MIL-OSI)

    WILMINGTON, Del., Feb. 12, 2025 (GLOBE NEWSWIRE) — The American Federation Treasury proudly announces the official launch of the American Federation Dollar (AFD), a groundbreaking gold-backed digital currency engineered to provide a stable, secure, and transparent alternative to traditional fiat currencies. Now officially listed on the Saint Crown Exchange, the AFD ushers in a new era of financial sovereignty, economic stability, and global accessibility.

    A Gold-Backed Digital Currency for Trust and Stability

    The AFD is lawfully backed by over $2 trillion in gold reserves, securely audited and stored in internationally recognized vaults. Each AFD token is pegged to 1/10th the daily spot price of gold, offering users a reliable hedge against inflation and the volatility of fiat currencies and speculative cryptocurrencies.

    Key Advantages of the AFD:

    • Gold-Backed Stability – Each token derives value from physical gold, ensuring a dependable store of value.
    • Blockchain Transparency – AFD transactions operate on an open-source blockchain ledger, ensuring traceability, security, and efficiency.
    • Global Liquidity – AFD is exchangeable with major fiat currencies and digital assets via the Saint Crown Exchange.
    • Legal Compliance – The currency adheres to global financial regulations, ensuring legitimacy and financial security.

    Visionary Leadership

    The AFD is managed by the unincorporated Federation Treasury of The United States of America and operates under the strategic guidance of key figures such as Judge Anna and the Global Family Group. Their leadership emphasizes transparency, economic sovereignty, and historical governance principles.

    “The AFD is designed to restore financial trust by merging gold’s stability with blockchain’s efficiency,” said “The Global Family Bank Digital Treasury, Depository and Currency Exchange.”. “This initiative is a crucial step towards economic self-governance and sustainable financial systems.”

    Revolutionary Features of the AFD:

    • Massive Reserve Backing – Audited in 2024, AFD is supported by over $2 trillion in gold reserves.
    • Decentralized Governance – AFD token holders can participate in policy proposals and system upgrades.
    • Advanced Security & Scalability – Utilizing state-of-the-art encryption and infrastructure, the AFD supports millions of daily transactions.

    Saint Crown Exchange Listing

    The AFD’s listing on the Saint Crown Exchange (https://exchange.saintcrown.org/) enables seamless global transactions. Users can buy, sell, and trade AFD tokens in real-time, ensuring market liquidity and ease of adoption.

    Regulatory Compliance Framework

    The AFD strictly follows international Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols, along with gold-backed token certification. A 2024 audit verified AFD’s full reserve banking compliance with ISO 19011:2018 standards.

    Future Roadmap

    • Q1 2025: Official launch and expanded listing on Saint Crown Exchange.
    • Q2 2025: Partnerships with financial institutions and merchants.
    • Q3 2025: Expansion into Africa and African Diaspora markets.
    • Q4 2025: Launch of AFD’s decentralized governance platform.

    A Call for Global Adoption

    The AFD is designed to empower communities and drive economic development, particularly in Africa, African Diaspora nations, and emerging markets. With its gold-backed stability, transparent governance, and cutting-edge technology, the AFD is poised to become a trusted medium of exchange for global trade.

    About the American Federation Treasury

    The American Federation Treasury is an unincorporated entity dedicated to economic and legal restructuring through innovative financial solutions. Committed to transparency and sovereignty, the Treasury champions lawful, asset-backed currencies to restore financial stability.

    The MIL Network –

  • MIL-OSI: Form 8.3 – [ALLIANCE PHARMA PLC – 11 02 2025] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

    PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
    A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
    Rule 8.3 of the Takeover Code (the “Code”)

    1.        KEY INFORMATION

    (a)   Full name of discloser: CANACCORD GENUITY WEALTH LIMITED (for Discretionary clients)
    (b)   Owner or controller of interests and short positions disclosed, if different from 1(a):
            The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.    		 N/A
    (c)   Name of offeror/offeree in relation to whose relevant securities this form relates:
            Use a separate form for each offeror/offeree    		 ALLIANCE PHARMA PLC
    (d)   If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree: N/A
    (e)   Date position held/dealing undertaken:
            For an opening position disclosure, state the latest practicable date prior to the disclosure    		 11 FEBRUARY 2025
    (f)   In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
            If it is a cash offer or possible cash offer, state “N/A”    		 N/A

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

    If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

    (a)      Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

    Class of relevant security: 1p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 12,253,082 2.2667    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 12,253,082 2.2667    

    All interests and all short positions should be disclosed.

    Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

    (b)      Rights to subscribe for new securities (including directors’ and other employee options)

    Class of relevant security in relation to which subscription right exists:  
    Details, including nature of the rights concerned and relevant percentages:  

    3.        DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

    Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

    The currency of all prices and other monetary amounts should be stated.

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    1p ORDINARY SALE 2,200 61.326p

    (b)        Cash-settled derivative transactions

    Class of relevant security Product description
    e.g. CFD    		 Nature of dealing
    e.g. opening/closing a long/short position, increasing/reducing a long/short position    		 Number of reference securities Price per unit
    NONE        

    (c)        Stock-settled derivative transactions (including options)

    (i)        Writing, selling, purchasing or varying

    Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type
    e.g. American, European etc.    		 Expiry date Option money paid/ received per unit
    NONE              

    (ii)        Exercise

    Class of relevant security Product description
    e.g. call option    		 Exercising/ exercised against Number of securities Exercise price per unit

    (d)        Other dealings (including subscribing for new securities)

    Class of relevant security Nature of dealing
    e.g. subscription, conversion    		 Details Price per unit (if applicable)
    NONE      

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

    Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
    Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (b)        Agreements, arrangements or understandings relating to options or derivatives

    Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
    (i)   the voting rights of any relevant securities under any option; or
    (ii)   the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
    If there are no such agreements, arrangements or understandings, state “none”

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 12 FEBRUARY 2025
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

    Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

    The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

    The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

    The MIL Network –

  • MIL-OSI: Wilbur You and You Capital Investment Firm Partner with Sol Nutrition, Inc. to Revolutionize Herbal Supplements

    Source: GlobeNewswire (MIL-OSI)

    SCOTTSDALE, Ariz., Feb. 12, 2025 (GLOBE NEWSWIRE) — You Capital Investment Firm, led by Managing Partner Wilbur You, is proud to announce its strategic equity partnership with Sol Nutrition, Inc., a premier herbal supplement company owned by renowned wellness expert Dr. Liu. This collaboration is set to redefine the global herbal supplement industry by combining world-class investment expertise with cutting-edge nutritional science.

    With a shared vision of promoting holistic well-being, this partnership will fuel Sol Nutrition’s expansion and innovation, ensuring the production of the highest-quality herbal supplements. Based in Scottsdale, Arizona, Sol Nutrition is already recognized for its commitment to natural, scientifically backed formulations, and with the support of You Capital, the company is poised for significant growth and market impact.

    “This partnership marks a new era for the health and wellness industry,” said Wilbur You, Managing Partner of You Capital. “Dr. Liu and Sol Nutrition have built an incredible foundation, and we are excited to provide the resources and strategic guidance to elevate their reach and influence.”

    Dr. Liu, Founder of Sol Nutrition, added, “Our mission has always been to deliver the world’s best herbal supplements, and with the backing of You Capital, we are now in a position to bring our vision to a global audience. Together, we will set new standards in quality and innovation.”

    Dr. Liu is a highly respected doctor and the owner of Eastern Medicine, where she has built a reputation for excellence in holistic healing. She has served a distinguished clientele from all over the world, offering tailored wellness solutions that integrate traditional and modern medical practices. Her expertise and influence in the health and wellness industry further solidify Sol Nutrition’s standing as a leader in herbal supplementation.

    This investment underscores You Capital’s commitment to fostering businesses that prioritize health, sustainability, and excellence. The partnership will enable Sol Nutrition to enhance its research and development, expand its product offerings, and strengthen its global distribution network.

    Wilbur You brings a wealth of business acumen to this partnership, having successfully built and scaled Youtech, a full-service digital marketing and technology agency. Under his leadership, Youtech has grown into a nationally recognized firm specializing in marketing, digital strategy, and business transformation. His experience in scaling businesses and leveraging innovative marketing strategies will play a crucial role in positioning Sol Nutrition as a global leader in the herbal supplement industry.

    For media inquiries, please contact:
    Jessica Starman
    jessica@elev8newmedia.com
    (888) 461-2233

    About You Capital Investment Firm
    You Capital Investment Firm specializes in strategic partnerships and equity investments that drive business growth and industry innovation. Led by Managing Partner Wilbur You, the firm focuses on transformative opportunities in health, technology, and sustainable industries.

    About Sol Nutrition, Inc.
    Sol Nutrition, Inc. is a leading herbal supplement company dedicated to creating science-backed, high-quality natural products. Under the leadership of Dr. Liu, Sol Nutrition continues to pioneer advancements in holistic health and wellness.

    The MIL Network –

  • MIL-OSI China: Mainland spokesperson says Taiwan’s ban on DeepSeek anti-intellectual, absurd

    Source: China State Council Information Office 2

    A file photo of Zhu Fenglian, spokesperson for the State Council Taiwan Affairs Office. [Photo/Xinhua]
    A mainland spokesperson on Wednesday called the ban imposed by Taiwan’s Democratic Progressive Party (DPP) authorities on AI models developed by mainland-based company DeepSeek an absurd move that uses anti-intellectual measures to pursue their anti-mainland agenda.
    Zhu Fenglian, spokesperson for the State Council Taiwan Affairs Office, made the remarks in response to a media query regarding the DPP authorities’ recent decision to impose a blanket ban on the use of DeepSeek AI models in government agencies and public schools.
    Zhu criticized the DPP authorities for their fear and hostility toward both the mainland and mainland high-tech products, stressing that their arbitrary bans under the pretext of safeguarding security would ultimately harm the interests of businesses and the public on the island.
    She added that the mainland welcomes Taiwan residents to use AI models developed by mainland enterprises and supports cross-Strait cooperation in the AI sector.
    Zhu also responded to Lai Ching-te’s recent claims about increasing mainland espionage cases and intensified “united front” efforts against Taiwan. She said the DPP authorities repeatedly fabricated “mainland threat” and portrayed cross-Strait exchanges as a dire menace in pursuit of their separatist agenda.
    This is the fundamental logic behind Lai and the DPP authorities’ continuous deception, fearmongering and deliberate efforts to escalate cross-Strait tensions, she added.
    In response to a recent report by Taiwan’s mainland affairs council, which includes distorted information about the mainland, Zhu said Taiwan residents are warmly welcomed to visit the mainland.
    As long as Taiwan compatriots see and feel the mainland in person, the rumors fabricated by the DPP authorities will surely collapse, she said.

    MIL OSI China News –

  • MIL-OSI Video: CARDIO DAY! | U.S. Army

    Source: US Army (video statements)

    : DMD

    About the U.S. Army:

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

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

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

    https://www.youtube.com/watch?v=iC_513bO9So

    MIL OSI Video –

  • MIL-OSI Russia: Dmitry Chernyshenko: More than 90 thousand schoolchildren and students took part in the competition “Science. Territory of Heroes”

    Translartion. Region: Russians Fedetion –

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

    Welcome speech by Dmitry Chernyshenko to the participants of the popular science competition “Science. Territory of Heroes”

    16 hours ago

    The final of the popular science competition “Science. Territory of Heroes” for schoolchildren and students from all over the country took place at the National Center “Russia”. Deputy Prime Minister Dmitry Chernyshenko addressed the participants with a welcoming speech.

    The Deputy Prime Minister emphasized the advantages of the profession of a scientist and spoke about the opportunities it opens up for young people.

    “The profession of a scientist in Russia is becoming increasingly popular and prestigious. Our scientists are real superheroes! We are in fifth place in the world in terms of the number of people engaged in research and development. Almost every second scientist in Russia is under 40 years old. The competition “Science. Territory of Heroes” is also gaining popularity. More than 90 thousand schoolchildren and students from all over the country have already become its participants. By involving tens of thousands of young researchers in the scientific field, we are solving one of the main tasks of the Decade of Science and Technology announced by President Vladimir Putin,” said Dmitry Chernyshenko.

    Participants in the final of the popular science competition “Science. Territory of Heroes”

    He added that the country’s future will depend on talented youth. The government will continue to support young people and create conditions so that the path in science is not so difficult and leads to success.

    The head of the Ministry of Education and Science, Valery Falkov, congratulated the winners of the competition and noted that today more and more young people want to connect their lives with science.

    “All necessary conditions are being created for scientific creativity in our universities and scientific organizations, including the opening of youth laboratories, the updating of the equipment base, and serious grant support. I would like to separately note the strengthening of cooperation between universities, research institutes and the real sector of the economy,” the minister added.

    This year, 10 talented children from all over the country competed in the final duel – from Zavolzhye to Chelyabinsk Oblast. Young researchers answered scientific questions, talked to young scientists and famous popularizers of science, including Doctor of Physical and Mathematical Sciences, Professor of the Institute of Laser and Plasma Technologies of the National Research Nuclear University “MEPhI” Vladimir Reshetov, Ambassador of the project – biologist Ilya Gomyranov.

    Third place went to Andrey Khokhlov from Michurinsk, second place went to Timofey Kovalev from Pskov. First place was awarded to Alexander Valov from Klin.

    They received additional points for admission to the Bauman Moscow State Technical University, as well as awards from the competition partner companies. Rosatom State Corporation provided three winners with the opportunity to undergo career consultations, the purpose of which is to help build an individual professional path. Beeline awarded one winner with a grant of 200 thousand rubles for conducting research work and improving competencies in the chosen field. The remaining finalists received gift certificates and prizes from the competition partners, and also took part in an interactive tour of the Sber office.

    The winners of the competition will receive individual internships at the country’s leading scientific centers: the Far Eastern Federal University, the Interuniversity Student Campus of the Eurasian World-Class Scientific and Educational Center, and the Joint Institute for Nuclear Research. There, the students will gain unique experience in scientific research, study the areas in which they plan to develop in the future, and meet practicing scientists from the scientific field that interests them.

    The competition “Science. Territory of Heroes” is held annually within the framework of national projects of Russia and is part of the “Science of Winning” initiative of the Decade of Science and Technology.

    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 New Zealand: Update on December 2024 and January 2025 rental data

    Update on December 2024 and January 2025 rental data

    The national-level stock measure for actual rentals for housing for December 2024 and January 2025 will be included in Selected price indexes: January 2025, which is due out on Friday 14 February.  

    The administrative data used for this measure is provided by the Ministry of Business, Innovation and Employment (MBIE), which recently upgraded their tenancy bond-lodgment system. The stock measure was not included in last month’s SPI release as time was needed to integrate the new system’s data into the rental price indexes.  

    The completed update does not affect the results for the December 2024 quarter consumers price index (CPI), so no revision is required.

    The release does not include the flow of rental properties measures (national and regional) as we are still working to integrate the new system’s data for these measures. The flow measures, which do not affect the CPI, will be included when we are confident they meet customer expectations.  

    Stats NZ would like to thank MBIE and the Ministry of Housing and Urban Development (HUD) for collaborating on this work and making it possible to release the latest data. We will provide a further update in due course.

    If you have any questions, please contact our Information Centre at info@stats.govt.nz.

    Ends

    The Government Statistician authorises all statistics and data we publish.

    If you wish to change your details or unsubscribe please email subscriptions@stats.govt.nz.

    Thank you for using the Stats NZ subscription service.

    Publishing team
    +64 4 931 4600
    publishing@stats.govt.nz
    www.stats.govt.nz

    More information is available on the Stats NZ website at www.stats.govt.nz

     Follow us on Twitter

     Like us on Facebook  


    MIL OSI New Zealand News –

  • MIL-OSI: Bitdeer Announces January 2025 Production and Operations Update

    Source: GlobeNewswire (MIL-OSI)

    – First trial batch of SEALMINER A2 air cooled rigs have been delivered to our datacenters and are running smoothly.

    – Completed acquisition of 101 MW site and gas-fired power plant project in Alberta to deliver the industry’s first fully vertically-integrated Bitcoin mining site.

    SINGAPORE, Feb. 12, 2025 (GLOBE NEWSWIRE) — Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer” or the “Company”), a world-leading technology company for blockchain and high-performance computing, today announced its unaudited mining and operations updates for January 2025.

    Operational Update

    • Self-mined Bitcoin: 126 Bitcoins, down from the previous month due to temporary curtailments at our Bhutan site related to higher seasonal electricity prices.
    • Mining Rig Manufacturing and R&D:
      • SEALMINER A1:
        • Mass production of approximately 3.7 EH/s of mining rigs remains on track with 0.4 EH/s powered on, 0.5 EH/s delivered for installation, 0.4 EH/s in-transit to datacenters and 2.4 EH/s in production. The manufacture of SEALMINER A1 is now expected to be completed at end of February or early March 2025.
      • SEALMINER A2:
        • Production of approximately 35 EH/s of mining rigs through October 2025, delayed by approximately one month due to 6.4 magnitude earthquake that struck Taiwan on January 21, 2025.
        • First trial batch of air cooled rigs have been delivered to our mining datacenters for testing and are running stably.
        • ~29,000 units (~7 EH/s out of the 35 EH/s) of SEALMINER A2s allocated for external sales are expected to begin shipment in March through Q2 2025.
      • SEALMINER A3:
        • SEAL03 initial tape-out sample wafers with an expected chip efficiency of approximately 10 J/TH are expected in Q1 2025.
      • SEALMINER A4:
        • SEAL04 R&D remains on track to achieve an expected chip efficiency of approximately 5 J/TH with anticipated initial tape-out in Q3 2025.
      • The Bureau of Industry and Security (“BIS”) of the U.S. Department of Commerce published a rule entitled “Implementation of Additional Due Diligence Measures for Advanced Computing Integrated Circuits”, in January 2025 (the “BIS Rules”). Based on preliminary review, the Company does not expect that the application of the BIS Rules will have any impact on the delivery of SEAL chips, as the outsourced semiconductor assembly and test (“OSAT”) companies for SEAL chips are Approved “OSAT” companies under BIS regulations.
    • HPC/AI:
      • Discussions are ongoing with multiple development partners and potential end users for select large scale sites in U.S. for HPC/AI.
      • Bitdeer AI Cloud, powered by NVIDIA DGX SuperPOD with H100, saw its average utilization rate drop to ~60% in January 2025 due to an initial shift toward R&D in model inference and AI Agents. In the short term, some DGX H100 systems will be allocated to deploying open-source models like DeepSeek, Llama, and Qwen, enhancing API support for AI Agents, optimizing platform services, and advancing related R&D.
    • Hosting:
      • Client-hosted machines increased by 2,000 units and overall hashrate increased by 0.5 EH/s as customers are replacing older mining rigs with high efficiency ones.
    • Infrastructure:
      • Tydal, Norway, 40 MW phase 1 expansion has completed installation of transformers, with delivery and installation of electrical equipment currently in progress. The energization application has entered into the fast track for final regulatory approval.
      • Rockdale, Texas, USA, 100 MW hydro-cooling conversion is on track for phased completion during Q1 2025.
      • Clarington Phase 2, Ohio, USA, 304 MW is still pending approval and in negotiation with the landlord.
      • Jigmeling, Bhutan, 500 MW construction is on track with the primary substation expected to be completed by Q1 2025.
      • Fox Creek, Alberta, 101 MW gas-fired power plant and 99 MW datacenter of capacity for Bitcoin mining planned for energization in Q4 2026.
    • Financing:
      • Successfully executed a $17M supply chain financing facility with a 10.2% interest rate with a Singapore financial institution and completed the drawdown of facility in January 2025.

    Management Commentary

    “Our strategic acquisition of the 101 MW site near Fox Creek, Alberta and gas-fired power plant project marks a significant step in our strategy to become a fully-vertically integrated Bitcoin miner,” stated Matt Kong, Chief Business Officer of Bitdeer. “By combining our own power generation, SEALMINER mining machines and opportunistic grid participation, we believe this site will set a new benchmark for industry unit economics.”

    Mr. Kong continued, “In terms of our ASICs roadmap, mass production of our SEALMINER A1s remain on schedule. SEALMINER A2s were slightly impacted by the 6.4 magnitude earthquake in Taiwan on January 21, 2025, and its mass production in H2 is expected to delay about one month. However, the first trial batch of SEALMINER A2 air cooled models have been delivered to our own datacenters for testing and are running smoothly. Further, we expect the initial tape-out sample wafers of our SEAL03 chip to be ready in March for testing. SEAL03 is expected to be the most advanced and energy-efficient Bitcoin mining chip on the market and represents a significant achievement for Bitdeer and the industry.”

    Production and Operations Summary

    Metrics Jan 2025 Dec 2024 Nov 2024
    Total hash rate under management1(EH/s) 22.4 21.6 20.7
    – Proprietary hash rate 9.2 8.9 8.8
    • Self-mining 8.7 8.5 8.2
    • Cloud Hash Rate 0.0 0.0 0.2
    • Delivered but not hashing 0.5 0.4 0.4
    – Hosting 13.2 12.7 11.9
    Mining machines under management 179,000 175,000 178,000
    – Self-owned2 87,000 85,000 86,000
    – Hosted 92,000 90,000 92,000
    Bitcoins mined (self-mining only) 126 145 150
    Bitcoin held3 724 594 443

    1Total hash rate under management as of January 31, 2025 across the Company’s three primary business lines: Self-mining, Cloud Hash Rate, and Hosting.

    • Self-mining refers to cryptocurrency mining for the Company’s own account, which allows it to directly capture the high appreciation potential of cryptocurrency.
    • Cloud Hash Rate offers hash rate subscription plans and shares mining income with customers under certain arrangements. The Cloud Hash Rate stated above reflects the contracted hash rate with customers at month-end.
    • Hosting encompasses a one-stop mining machine hosting solution including deployment, maintenance, and management services for efficient cryptocurrency mining.

    2Self-owned mining machines are for the Company’s self-mining business and Cloud Hash Rate business.
    3Bitcoins held do not include the Bitcoins from deposits of the customers.

    Infrastructure Construction Update

    Rockdale, Texas – 100 MW Hydro-cooling conversion to be energized in phases in Q1 2025:

    • Cooling system will be delivered and installed in phases in Q1 2025.
    • Planning for phased energization by March 2025.

    Tydal, Norway – 175 MW site expansion anticipated to be fully energized by mid-2025:

    • Installation of the transformers has been completed, with the delivery and installation of electrical equipment currently in progress. Additionally, the procurement and delivery of containers and hydro-cooling systems are underway, and drainage systems construction is ongoing.
    • Tydal, Norway Phase 1 40 MW expansion pending regulatory approval. Energization of the full 175 MW site is expected to occur no later than mid-2025, subject to regulatory approval.

    Massillon, Ohio – 221 MW site construction has begun ahead of schedule:

    • Substation construction is underway and is expected to be completed in Q3 2025.
    • Building design is completed and construction has begun earlier than expected, estimated to be completed in phases between Q3 and Q4 2025.
    • Estimated energization timeline remains on track for mid-to-late 2025.

    Clarington Phase 2, Ohio – 304 MW is still pending approval and in negotiation with the landlord.

    Jigmeling, Bhutan – 500 MW site is progressing well, with the following key milestones achieved:

    • Construction of transformer and container foundations in progress and will be completed in phases, with the last phase expected by the end of February 2025.
    • 132kv/140MW and 220kv/360MW substation designs are completed with construction anticipated to be finished by the end of Q1 2025.
    • Orders for the procurement of transformers and electrical equipment have been placed, with delivery and installation work to be completed in phases over Q1 and Q2 2025.
    • Procurement and delivery of containers and hydro-cooling systems are in progress, with completion expected in phases by the end of Q1 2025.

    Fox Creek, Alberta – 101 MW site acquired in Alberta sits on 19 acres is fully licensed and permitted:

    • Acquisition includes all permits and licenses to construct an on-site natural gas power plant, as well as approval for a 99 MW grid interconnection with Alberta Electric System Operator (“AESO”).
    • Bitdeer will develop and construct the power plant in partnership with a leading Engineering, Procurement and Construction (“EPC”) company and is expected to be energized by Q4 2026.
    Site / Location Capacity (MW) Status Timing4
    Electrical capacity      
    – Rockdale, Texas 563 Online Completed
    – Knoxville, Tennessee 86 Online Completed
    – Wenatchee, Washington 13 Online Completed
    – Molde, Norway 84 Online Completed
    – Tydal, Norway 50 Online Completed
    – Gedu, Bhutan 100 Online Completed
    Total electrical capacity 8955    
    Pipeline capacity      
    – Tydal, Norway Phase 1 40 In progress Pending Regulatory Approval
    – Tydal, Norway Phase 2 135 In progress Mid 2025
    – Massillon, Ohio 221 In progress Mid-to-late 2025
    – Clarington, Ohio Phase 1 266 In progress Q3 2025
    – Clarington, Ohio Phase 2 304 Pending approval Estimate 2026
    – Jigmeling, Bhutan 500 In progress Mid-to-late 2025
    – Rockdale, Texas 179 In planning Estimate 2026
    – Alberta, Canada 99 In planning Q4 2026
    Total pipeline capacity 1,744    
    Total global electrical capacity 2,639    

    4 Indicative timing. All timing references are to calendar quarters and years.
    5 Figures may not add up due to rounding.

    Upcoming Conferences and Events

    • March 11 – 12, 2025: Cantor Global Technology Conference in New York City
    • March 16 – 18, 2025: 37th Annual ROTH Growth Conference in Dana Point, California

    About Bitdeer Technologies Group

    Bitdeer is a world-leading technology company for blockchain and high-performance computing. Bitdeer is committed to providing comprehensive computing solutions for its customers. The Company handles complex processes involved in computing such as equipment procurement, transport logistics, datacenter design and construction, equipment management, and daily operations. The Company also offers advanced cloud capabilities to customers with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has deployed datacenters in the United States, Norway, and Bhutan. To learn more, visit https://ir.bitdeer.com/ or follow Bitdeer on X @ BitdeerOfficial and LinkedIn @ Bitdeer Group.

    Investors and others should note that Bitdeer may announce material information using its website and/or on its accounts on social media platforms, including X, formerly known as Twitter, Facebook, and LinkedIn. Therefore, Bitdeer encourages investors and others to review the information it posts on the social media and other communication channels listed on its website.

    Forward-Looking Statements

    Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate,” “look forward to,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled “Risk Factors” in Bitdeer’s annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in Bitdeer’s subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. Bitdeer specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.

    For investor and media inquiries, please contact:

    Investor Relations
    Orange Group
    Yujia Zhai
    bitdeerIR@orangegroupadvisors.com

    Public Relations
    BlocksBridge Consulting
    Nishant Sharma
    bitdeer@blocksbridge.com

    The MIL Network –

  • MIL-OSI: P10 Reports Fourth Quarter and Full Year 2024 Earnings Results

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, Feb. 12, 2025 (GLOBE NEWSWIRE) — P10, Inc. (NYSE: PX) (the “Company”), a leading private markets solutions provider, today reported financial results for the fourth quarter and year ended December 31, 2024.

    Fourth Quarter 2024 Financial Highlights

    • Revenue: $85 million, a 35% increase year over year.
    • Fee-Related Revenue: $85 million, a 37% increase year over year.
    • Fee-Paying Assets Under Management: $25.7 billion, a 10% increase year over year.
    • GAAP Net Income (Loss): $5.7 million compared to $(1.9) million in the prior year.
    • Adjusted EBITDA: $42.9 million, a 40% increase year over year.
    • Fee-Related Earnings: $42.7 million, a 39% increase year over year.
    • Adjusted Net Income: $35.3 million, a 39% increase year over year.
    • Fully Diluted GAAP EPS: $0.05 compared to $(0.01) in the prior year.
    • Fully Diluted ANI per share: $0.30, a 44% increase year over year.

    Fiscal Year End 2024 Financial Highlights

    • Revenue: $296.4 million, a 23% increase year over year.
    • Fee-Related Revenue: $291.3 million, a 23% increase year over year.
    • GAAP Net Income (Loss): $19.7 million, compared to $(7.8) million in the prior year.
    • Adjusted EBITDA: $144.5 million, a 17% increase year over year.
    • Fee-Related Earnings: $142.1 million, a 15% increase year over year.
    • Adjusted Net Income: $120.2 million, an 18% increase year over year.
    • Fully Diluted GAAP EPS: $0.16, compared to $(0.06) in the prior year.
    • Fully Diluted ANI per share: $1.00, a 22% increase year over year.

    A presentation of the quarterly financials may be accessed here and is available on the Company’s website.

    “P10 delivered record financial performance in the fourth quarter, capping off a remarkable year. Our investment strategies carried momentum in the fourth quarter, achieving $905 million in gross new fee-paying AUM. We also exceeded our 2024 fundraising guidance by over a billion dollars and delivered strong growth across our platform,” said Luke Sarsfield, P10 Chairman and Chief Executive Officer. “Over the course of 2024, we executed on all strategic priorities outlined at the start of the year, which included optimizing our leadership team, driving increased organic growth, reaccelerating our M&A engine, generating operational efficiencies and enhancing our transparency. The Company is well positioned for an exciting 2025 and to meet or exceed the long-term financial guidance we provided at our inaugural Investor Day in September 2024.”

    Stock Repurchase Program

    In the fourth quarter, the Company repurchased approximately 815,327 shares at an average price of $12.72 per share. In 2024, the Company repurchased approximately 6,641,827 shares at an average price of $8.88 per share, for a total of $59.1 million in the year. The repurchase activity left approximately $3.5 million available under the repurchase authorization at the end of the fourth quarter. This week, the Board of Directors authorized an additional $40 million under the share repurchase program which brings the total available under the plan to approximately $43.5 million.

    Declaration of Dividend

    The Board of Directors of the Company has declared a quarterly cash dividend of $0.035 per share on Class A and Class B common stock, payable on March 20th, 2025, to the holders of record as of the close of business on February 28th, 2025.

    Conference Call Details

    The Company will host a conference call at 8:30 a.m. Eastern Time on Wednesday, February 12, 2025. All participants must register prior to joining the event.

    • To join and view the live webcast, please register here.
    • To join by telephone, please register here.

    For those unable to participate in the live event, a replay will be made available on P10’s investor relations page at www.p10alts.com.

    About P10

    P10 is a leading multi-asset class private markets solutions provider in the alternative asset management industry. P10’s mission is to provide its investors differentiated access to a broad set of investment solutions that address their diverse investment needs within private markets. As of December 31, 2024, P10’s products have a global investor base of more than 3,800 investors across 50 states, 60 countries, and six continents, which includes some of the world’s largest pension funds, endowments, foundations, corporate pensions, and financial institutions. Visit www.p10alts.com.

    Forward-Looking Statements

    Some of the statements in this release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Words such as “will,” “expect,” “believe,” “estimate,” “continue,” “anticipate,” “intend,” “plan” and similar expressions are intended to identify these forward-looking statements. Forward-looking statements discuss management’s current expectations and projections relating to our financial position, results of operations, plans, objectives, future performance, and business. The inclusion of any forward-looking information in this release should not be regarded as a representation that the future plans, estimates, or expectations contemplated will be achieved. Forward-looking statements reflect management’s current plans, estimates, and expectations, and are inherently uncertain. All forward-looking statements are subject to known and unknown risks, uncertainties, assumptions and other important factors that may cause actual results to be materially different, including risks relating to: global and domestic market and business conditions; successful execution of business and growth strategies and regulatory factors relevant to our business; changes in our tax status; our ability to maintain our fee structure; our ability to attract and retain key employees; our ability to manage our obligations under our debt agreements; our ability to make acquisitions and successfully integrate the businesses we acquire, including our pending acquisition of Qualitas Funds SGEIC, S.A.; assumptions relating to our operations, financial results, financial condition, business prospects and growth strategy; the impacts of emerging technologies, such as artificial intelligence and machine learning; and our ability to manage the effects of events outside of our control. The foregoing list of factors is not exhaustive. For more information regarding these risks and uncertainties as well as additional risks that we face, you should refer to the “Risk Factors” included in our annual report on Form 10-K for the year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission (“SEC”) on March 13, 2024, and in our subsequent reports filed from time to time with the SEC. The forward-looking statements included in this release are made only as of the date hereof. We undertake no obligation to update or revise any forward-looking statement as a result of new information or future events, except as otherwise required by law.

    Use of Non-GAAP Financial Measures by P10

    The non-GAAP financial measures contained in this press release (including, without limitation, Adjusted EBITDA, Adjusted EBITDA Margin, Fee-Related Revenue (“FRR”), Fee-Related Earnings (“FRE”), Fee-Related Earnings Margin, Adjusted Net Income (“ANI”) and, Fully Diluted ANI per share are not GAAP measures of the Company’s financial performance or liquidity and should not be considered as alternatives to net income (loss) as a measure of financial performance or cash flows from operations as measures of liquidity, or any other performance measure derived in accordance with GAAP. A reconciliation of such non-GAAP measures to their most directly comparable GAAP measure is included later in this press release. The Company believes the presentation of these non-GAAP measures provide useful additional information to investors because it provides better comparability of ongoing operating performance to prior periods. It is reasonable to expect that one or more excluded items will occur in future periods, but the amounts recognized can vary significantly from period to period. These non-GAAP measures should not be considered substitutes for net income or cash flows from operating, investing, or financing activities. You are encouraged to evaluate each adjustment to non-GAAP financial measures and the reasons management considers it appropriate for supplemental analysis. Our presentation of these measures should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items.

    Key Financial & Operating Metrics

    Fee-paying assets under management reflects the assets from which we earn management and advisory fees. Our vehicles typically earn management and advisory fees based on committed capital, and in certain cases, net invested capital, depending on the fee terms. Management and advisory fees based on committed capital are not affected by market appreciation or depreciation.

    P10 Investor Contact:
    info@p10alts.com

    P10 Media Contact:
    Josh Clarkson
    Taylor Donahue
    jclarkson@prosek.com

     
    Reconciliation of Non-GAAP Financial Measures
     
                       
    (Dollars in thousands except share and per share amounts)   Three Months Ended   Twelve Months Ended   % Change
      December 31, 2024 December 31, 2023   December 31, 2024 December 31, 2023   Q4’24 vs Q4’23 YTD’24 vs YTD’23
    GAAP Net Income/(Loss)   $ 5,701   $ (1,893 )   $ 19,667   $ (7,772 )   N/A N/A
    Adjustments:                  
    Depreciation & amortization   6,902   7,945     28,314   31,472     -13% -10%
    Interest expense, net   6,927   5,792     25,510   21,872     20% 17%
    Income tax expense   1,967   1,826     8,698   4,632     8% 88%
    Non-recurring expenses   10,388   3,204     17,520   13,874     224% 26%
    Non-cash stock based compensation   4,999   5,252     22,480   21,519     -5% 4%
    Non-cash stock based compensation – acquisitions   2,414   779     7,971   8,674     210% -8%
    Non-cash stock based compensation – CEO transition   –   4,225     –   6,331     -100% -100%
    Earn out related compensation   3,597   3,597     14,312   22,992     0% -38%
    Adjusted EBITDA   $ 42,895   $ 30,727     $ 144,472   $ 123,594     40% 17%
    Less:                  
    Cash interest expense   (6,497 ) (5,049 )   (21,727 ) (20,100 )   29% 8%
    Cash income taxes, net of taxes related to acquisitions   (1,101 ) (206 )   (2,538 ) (1,539 )   434% 65%
    Adjusted Net Income   $ 35,297   $ 25,472     $ 120,208   $ 101,955     39% 18%
                       
    Fully Diluted ANI per Share                  
    Shares outstanding   111,333   116,299     112,549   116,104     -4% -3%
    Fully Diluted Shares outstanding   119,286   124,163     120,375   124,063     -4% -3%
    ANI per share   $0.32   $0.22     $1.07   $0.88     45% 22%
    Fully Diluted ANI per share(1)   $0.30   $0.21     $1.00   $0.82     44% 22%
                       
    Adjusted EBITDA Margin                  
    Total Revenues   $ 85,014   $ 63,067     $ 296,448   $ 241,734     35% 23%
    Adjusted EBITDA   42,895   30,727     144,472   123,594     40% 17%
    Adjusted EBITDA Margin   50 % 49 %   49 % 51 %   N/A N/A
                       
    Fee-Related Revenue                  
    Total Revenues   $ 85,014   $ 63,067     $ 296,448   $ 241,734     35% 23%
    Adjustments:                  
    Non-Fee Related Revenue   13   (1,126 )   (5,179 ) (4,730 )   -101% 9%
    Fee-Related Revenue   $ 85,027   $ 61,941     $ 291,269   $ 237,004     37% 23%
                       
    Fee-Related Earnings                  
    GAAP Net Income/(Loss)   $ 5,701   $ (1,893 )   $ 19,667   $ (7,772 )   N/A N/A
    Adjustments   37,194   32,620     124,805   131,366     14% -5%
    Adjusted EBITDA   $ 42,895   $ 30,727     $ 144,472   $ 123,594     40% 17%
    Less:                  
    Non-Fee Related Income   (173 ) (87 )   (2,354 ) (497 )   99% 374%
    Fee-Related Earnings   $ 42,722   $ 30,640     $ 142,118   $ 123,097     39% 15%
    Fee-Related Earnings Margin   50 % 49 %   49 % 52 %   N/A N/A
     

    (1) Fully Diluted ANI per share calculations include the total of all shares of common stock, stock options under the treasury stock method, restricted stock awards, and the redeemable non-controlling interests of P10 Intermediate converted to Class A stock as of each period presented.

    Notes to Reconciliation of Non-GAAP Financial Measures

    Above is a calculation of our unaudited non-GAAP financial measures. These are not measures of financial performance under GAAP and should not be construed as a substitute for the most directly comparable GAAP measures, which are reconciled in the table above. These measures have limitations as analytical tools, and when assessing our operating performance, you should not consider these measures in isolation or as a substitute for GAAP measures. Other companies may calculate these measures differently than we do, limiting their usefulness as a comparative measure.

    We use Adjusted Net Income, or ANI, as well as Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization), Adjusted EBITDA Margin, Fee-Related Revenues, Fee-Related Earnings and Fee-Related Earnings Margin to provide additional measures of profitability. We use the measures to assess our performance relative to our intended strategies, expected patterns of profitability, and budgets, and use the results of that assessment to adjust our future activities to the extent we deem necessary. ANI reflects an estimate of our cash flows generated by our core operations. ANI is calculated as Adjusted EBITDA, less actual cash paid for interest and federal and state income taxes.

    In order to compute Adjusted EBITDA, we adjust our GAAP Net Income for the following items:

    • Expenses that typically do not require us to pay them in cash in the current period (such as depreciation, amortization and stock-based compensation);
    • The cost of financing our business;
    • One-time expenses related to restructuring of the management team including placement/search fees;
    • Expenses related to the debt refinance completed in August 2024;
    • Acquisition-related expenses which reflects the actual costs incurred during the period for the acquisition of new businesses, which primarily consists of fees for professional services including legal, accounting, and advisory, as well as bonuses paid to employees directly related to the acquisition; and
    • The effects of income taxes.

    Fee-Related Revenues is calculated as Total Revenues less any incentive fees.

    Fee-Related Earnings is a non-GAAP performance measure used to monitor our baseline earnings less any incentive fee revenue and excluding any incentive fee-related expenses.

    Fee-Related Earnings Margin is calculated as Fee-Related Earnings divided by Fee-Related Revenues.

    Adjusted Net Income reflects net cash paid for federal and state income taxes and cash interest expense.

    Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by total GAAP revenues. We use Adjusted EBITDA Margin to provide an additional measure of profitability.

    The MIL Network –

  • MIL-OSI Russia: GUU and Expobank: partnership for the sake of future entrepreneurs

    Translartion. Region: Russians Fedetion –

    Source: State University of Management – Official website of the State –

    On February 12, 2025, a ceremony of signing a cooperation agreement between the university and Expobank JSC took place at the State University of Management.

    The following represented GUU at the meeting: Rector Vladimir Stroyev, Vice-Rector Dmitry Bryukhanov and Director of the Institute of Economics and Finance Galina Sorokina. The delegation of guests was represented by the Chairman of the Board of Expobank Kirill Nifontov, Director of HR Galina Weisband, Head of Recruitment and Youth Affairs Oksana Schwartz and Head of Corporate Culture and Internal Communications Olga Chervova.

    Rector of the State University of Management Vladimir Stroyev greeted the guests and handed over the opening remarks to the Director of the Institute of Economics and Finance Galina Sorokina, who briefly spoke about the goals of the meeting and introduced the history of the university. Galina Petrovna especially emphasized that the origin of the university can rightfully be traced back to the Aleksandrovsky Commercial School, which was the first educational institution in Russia that trained entrepreneurs.

    Vladimir Stroyev noted that in many ways the State University of Management positions itself as an entrepreneurial university. And although the main emphasis in accordance with the requirements of the era and state tasks is on training industry managers, no one is going to leave the entrepreneurial track either. Moreover, now is the best time for banks to fully engage in educational processes, because by 2030 the Strategy for the Development of the Education System will have already changed significantly in favor of training engineers, doctors, teachers and specialists in the natural sciences.

    The rector also spoke about the project-based learning system at the State University of Management, for which one day a week is allocated in the curriculum from the first year. Vladimir Vitalyevich advised selecting personnel from the very beginning of the training, because by the 3rd or 4th year, the best students are usually already employed. To participate in the programs, you only need to assign a curator, no financial investments are needed. There are a lot of motivated students at the university, the main thing for the employer is to pick them up in time.

    Galina Sorokina added that various scholarship programs, which banks often limit themselves to, are just an additional opportunity for goal-oriented senior students to prove themselves and expand their resumes, while in reality they are already focused on other jobs.

    Kirill Nifontov, Chairman of the Board of Expobank, noted that all of the above is interesting to him not only as an employer, but also as a father of four children. He said that the private bank he represents is the 30th largest in Russia in terms of capital. The financial institution sees its mission in cultivating an entrepreneurial spirit, revealing the potential of clients and young businessmen.

    “We strive to solve complex problems, we grow actively, we find free niches in which we become leaders, we buy out the assets of large Western companies that have left. We consciously focus on young people, we involve and train them. The average age of our employees is 38 years old,” said Kirill Nifontov.

    The guest also complained about the “early aristocratization” of young specialists, who quickly get used to the increased attention of employers and lose motivation for development. This is why Expobank is concluding an agreement with the State University of Management in order to train specialists for itself.

    During the conversation, Kirill Nifontov asked a burning question: “Is it possible to learn entrepreneurship or is it an innate skill?” Vladimir Stroyev admitted that this question is often raised in discussions, and his opinion is that everything can be taught, but not everyone is destined to become Musk or Jobs; for this, innate talent is needed.

    After the signing ceremony, the guests from Expobank were given a tour of the State University of Management. Kirill Nifontov was clearly interested in asking the director Marina Grigorieva about the details of admission and education, organizational processes and youth trends, and his colleagues were amazed at the advanced equipment of the classrooms. Then the tour moved to the Media Center, where the bankers were introduced to the internal educational platform – the Digital Building of our university. At the end of the visit, the representatives of Expobank were shown the auditorium GU-307, which will be allocated to the bank for the arrangement and image support of its brand within the walls of the State University of Management.

    Subscribe to the TG channel “Our GUU” Date of publication: 02/12/2025

    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 Asia-Pac: Singapore ETO holds Chinese New Year dinner to promote Hong Kong (with photos)

    Source: Hong Kong Government special administrative region

    Singapore ETO holds Chinese New Year dinner to promote Hong Kong (with photos)
    Singapore ETO holds Chinese New Year dinner to promote Hong Kong (with photos)
    ******************************************************************************

         The Hong Kong Economic and Trade Office, Singapore (Singapore ETO) hosted a dinner at the Fullerton Bay Hotel Singapore in Singapore yesterday (February 11) to celebrate Chinese New Year and to promote Hong Kong. Over 200 guests from the government sector, foreign embassies in Singapore, Asia-Pacific Economic Cooperation, business associations, academic institutions and cultural organisations attended, as well as the local Hong Kong community.      Speaking at the dinner, the Director of the Singapore ETO, Mr Owin Fung, reviewed the work and achievements of Hong Kong and Singapore collaboration in recent years, including the visit by the Chief Executive, Mr John Lee, to Singapore in 2023, during which he led a Hong Kong Special Administrative Region business delegation and signed seven Memoranda of Understanding. In January this year, the Deputy Prime Minister and Minister for Trade and Industry of Singapore, Mr Gan Kim Yong, also led a high-level business delegation to Hong Kong, engaging in high-level discussions on traditional and emerging business sectors. Furthermore, 23 Singaporean companies expanded or established operations in Hong Kong in 2023, demonstrating Singapore enterprises’ investment interest and confidence in Hong Kong. Both sides expect to further build bilateral ties.      Mr Fung also took the opportunity to introduce, through a video, the Kai Tak Sports Park which is set to open on March 1. Major events and activities will be held at the park. Projects such as the Kai Tak Sports Park and the West Kowloon Cultural District exemplify Hong Kong’s cultural and soft power.      During the dinner, Hong Kong singer-songwriter Chet Lam, along with four band members, performed as guest artists. They delivered a selection of Cantonese, English, and Putonghua songs, including “Singapore Pie”, a piece by Liang Wern Fook, a renowned Singaporean lyricist, composer and Xinyao singer. Earlier, they and other Hong Kong musicians participated in an outdoor concert and talk under the “Hong Kong Pop Culture Festival @ Huayi” held in Singapore. The events were sponsored and supported by the Leisure and Cultural Services Department and the Hong Kong Economic and Trade Office in Singapore.      Mr Fung concluded that the Association of Southeast Nations (ASEAN), as Hong Kong’s second-largest merchandise trading partner, presents significant opportunities. Amid global economic challenges, Hong Kong has emphasised its unique advantages under the “one country, two systems” arrangement, serving as a gateway between Mainland China and global markets, while reinforcing connectivity with traditional markets and exploring emerging markets in ASEAN and the Middle East, with the Greater Bay Area as a key focus for collaboration.      Looking ahead, Singapore ETO will host its first Chinese New Year dinner in Ho Chi Minh City on February 28 to celebrate the Year of the Snake and the 30th anniversary of the Office, while enhancing communication with local communities in Vietnam.

     
    Ends/Wednesday, February 12, 2025Issued at HKT 13:39

    NNNN

    MIL OSI Asia Pacific News –