NewzIntel.com

Category: Business

  • MIL-OSI USA: Statement from Vice President Kamala  Harris on the Passing of Former U.S. Senator Tim  Johnson

    US Senate News:

    Source: The White House
    Senator Tim Johnson was a tenacious fighter for the people of South Dakota. Throughout his career—as a member of the South Dakota legislature, as the state’s sole representative in the U.S. House of Representatives, and as a U.S. Senator—he brokered compromise and advanced commonsense solutions that improved the lives of South Dakotans and all Americans. Senator Johnson secured support for critical water infrastructure that delivered clean water to communities across South Dakota, including Native reservations and rural communities across the state. He played a vital role in passing the Affordable Care Act, which delivered high-quality, affordable health care to millions of Americans, including tens of thousands of South Dakotans. And as Chairman of the Senate Banking Committee, he championed community banks and housing finance reforms to help ensure that rural communities across the nation have the support they need to access safe and affordable housing. His life and legacy will be felt by generations of South Dakotans and all Americans to come. Doug and I send our prayers to his wife, Barbara, and the entire Johnson family. 

    MIL OSI USA News –

  • MIL-OSI USA: Rhode Island Gets $1.6 Million Small Businesses Opportunity Grant

    Source: United States House of Representatives – Representative Seth Magaziner (RI-02)

    Federal grant will support the state-administered RI Rebounds Technical Assistance Program

    PROVIDENCE, RI – U.S. Senators Jack Reed and Sheldon Whitehouse and Congressmen Seth Magaziner and Gabe Amo announced $1,600,000 in competitive grant funding for the Rhode Island Commerce Corporation to better support small businesses in the construction, transportation, and renewable energy industries through the RI Rebounds Technical Assistance Program. Administered through the State Small Business Credit Initiative (SSBCI) Investing in America Small Business Opportunity Program (SBOP) that was reauthorized and expanded by the American Rescue Plan Act, this award will assist underserved and very small businesses in Rhode Island. 

    Rhode Island’s application for this $1.6 million SSBCI grant was chosen from a share of $75 million in federal funding nationwide to provide critical technical assistance to small businesses and entrepreneurs – helping these small companies access financing opportunities.

    This latest grant comes on top of the $61.7 million in federal SSBCI funding Reed and Whitehouse secured last year to promote small business growth and entrepreneurship across the Ocean State.

    “I helped pass the American Rescue Plan Act to deliver pandemic relief to help small businesses stay afloat, recover and grow, and position themselves for long-term success.  This latest round of federal funding will help connect more small businesses with access to capital and other tools to compete, grow, and strengthen Main Street businesses in communities across the state,” said Senator Jack Reed.

    “Our delegation is dedicated to helping Rhode Island’s entrepreneurs create well-paying jobs,” said Senator Sheldon Whitehouse. “This federal investment – made possible by the American Rescue Plan – will provide technical support to small businesses with the goal of growing the local economy.”

    “Behind every small business is an entrepreneur who had the courage to turn their dreams into reality, and we need to keep that spirit alive in Rhode Island,” said Representative Seth Magaziner. “This federal funding will help small businesses receive the technical assistance they need to create good jobs and opportunities for working Rhode Islanders.”

    “After working to help implement President Joe Biden’s American Rescue Plan and its critical provisions that support small businesses, I’m glad to build upon this effort as a member of the Rhode Island’s congressional delegation,” said Congressman Gabe Amo. “Growing a business is never easy, but with this federal funding for Rhode Island Commerce, we’re helping to bring down barriers so that every entrepreneur with a vision and a dream can compete on a level playing field.” 

    “This funding will provide critical technical assistance services to ensure even our state’s smallest entrepreneurs have the resources they need to grow and thrive” said Rhode Island Secretary of Commerce Liz Tanner. “I thank our state’s Congressional delegation and the Biden Administration for their continued support of our small businesses.”

    BACKGROUND

    Signed into law in 2021, the American Rescue Plan Act reauthorized and expanded SSBCI, which provides nearly $10 billion to support small businesses and help them the access the capital they need to invest in job-creating opportunities. SSBCI provides funds to states, the District of Columbia, territories, and Tribal governments to promote entrepreneurship, support small business ownership, and democratize access to capital across the country, including in underserved communities.

    Earlier this year, the Department of Treasury announced that Rhode Island was approved to use $773,624 in SSBCI allocation formula-based technical assistance grant funding to support RI Commerce in providing legal, accounting, and financial advisory services to underserved and very small businesses preparing to apply for support from state and/or federal small business programs, including connecting companies directly with the state’s SSBCI-supported capital programs.

    A fact sheet summarizing the funding that Rhode Island and 13 other states received can be found HERE. 

    MIL OSI USA News –

  • MIL-OSI Video: Gaza: “widespread suffering persists, humanitarian situation worsens” – OCHA briefing | UN

    Source: United Nations (Video News)

    Security Council briefing by Lisa Doughten, Director, Financing and Partnerships Division, United Nations Office for the Coordination of Humanitarian Affairs (OCHA), on the humanitarian situation in the Occupied Palestinian Territory, in both Gaza and the West Bank.
    —
    The past year has brought unimaginable suffering. It has been one year since the horrendous attack by Hamas and other armed groups in Israel. And rockets continue to be fired indiscriminately into Israel.
    Few times in recent history have we witnessed suffering and destruction of the size, scale, and scope that we see in Gaza. In the past year, this Council has been briefed repeatedly on the horror unfolding in Gaza, at least monthly on average.
    Once again, we find ourselves at a critical juncture. Unfortunately, much of what I am about to say mirrors what we reported a month ago. Widespread suffering persists while the humanitarian situation worsens.
    —
    Nearly every one of the more than 2 million people in Gaza receives some form of aid or service provision from UNRWA, along with nearly one million Palestine refugees in the West Bank. If approved, such legislation would be diametrically opposed to the UN Charter and in violation of Israel’s obligations under international law.
    —
    Evacuation orders are meant to protect civilians, but the exact opposite is happening. As we have said so many times, there is no safe place in Gaza.
    Three of the ten partially functional hospitals in the north have been ordered to evacuate all patients without providing alternatives for relocating them. We have not been able to get fuel to other hospitals in the north.
    There has been no electricity since October last year. Without electricity, or fuel for the generators, everything shuts down: medical facilities, water, sanitation, and other essential services.
    —
    Humanitarian partners report that women and children are hard-hit by the trauma of this war.
    Each day, according to UNRWA,10 children are losing one or both of their legs. Gaza is home to the largest cohort of child amputees in modern history. Women are three times more likely to miscarry, and three times more likely to die from childbirth.
    And, yet humanitarians are not giving up.
    —
    Urgent diplomatic efforts are needed to de-escalate the situation in the Occupied Palestinian Territory and to prevent a wider regional descent into bloodshed.
    Member States must take steps to achieve an immediate ceasefire in Gaza and a path towards sustainable peace.
    These atrocities must end.

    https://www.youtube.com/watch?v=T0RLrTbCVHU

    MIL OSI Video –

  • MIL-OSI Asia-Pac: Ministry of Rural Development & National Institute of Rural Development and Panchayati Raj to organize SARAS Ajeevika Mela in Gurugram from 13th October to 29th October 2024

    Source: Government of India (2)

    Ministry of Rural Development & National Institute of Rural Development and Panchayati Raj to organize SARAS Ajeevika Mela in Gurugram from 13th October to 29th October 2024

    More than 900 rural women artisans from around 30 states will participate in the SARAS Mela

    SARAS Mela will also have a learning pavilion and knowledge sharing pavilion specifically for capacity building of women self-help groups

    Posted On: 10 OCT 2024 6:04PM by PIB Delhi

    The Ministry of Rural Development and National Institute of Rural Development and Panchayati Raj (NIRDPR) is organizing the SARAS Ajeevika Mela for the third consecutive year from 13th October to 29th October 2024 at Leisure Valley Ground in Sector 29, Gurugram. More than 900 rural women artisans from around 30 states are participating in the SARAS Mela. The fair will showcase products from different states such as Tussar sarees, Bagh prints, Patola sarees from Gujarat, Katha sarees from West Bengal, Rajasthani prints, Chanderi sarees from Madhya Pradesh, woolen products and natural food products from Himachal-Uttarakhand, wooden products from Karnataka and Andhra Pradesh, various dry fruits and handloom products from Jammu and Kashmir, Palash products and natural food from Jharkhand along with different  varieties of products from rural culture across India will be on display at the fair.

    In the fair, self help group’s Didis will be provided with knowledge about Various Ministries of the Government (various departments of Ministry of Rural Development, Ministry of Agriculture and Farmers Welfare, Ministry of Micro, Small and Medium Enterprises, Rural Development, Ministry of Commerce and Industry, Ministry of Textiles etc.) through special capacity building of women self help groups learning pavilion and knowledge sharing pavilion. Under various ministries’ schemes, the Didi’s of the self help groups will be connected and informed about various means of livelihood and various training programs will also be organized for their skill development.

    Apart from this, a SARAS Food Court will also be set up in Gurugram SARAS Mela featuring 50 live food stalls from about 25 states. There will be dishes from all over India including Rajasthani Kair Sangri-Gatta ki Sabzi, Bengal’s Fish Curry, Telangana Chicken, Bihar’s Litti Chokha, Punjab’s Sarso Ka Saag and Makki Ki Roti. Cultural programs will be organized every day in the fair and arrangements have also been made for a kid’s zone for children’s sports and entertainment. Lakhs of visitors and customers from the national capital region including Delhi-Gurugram will participate in the fair. All arrangements are being made keeping in mind the convenience of the visitors. Keeping transparency in mind, arrangements have been made for online registration/nomination of self-help groups in this SARAS Aajeevika Mela. B.C. Sakhi and journalist sisters from Jharkhand and Uttar Pradesh will also participate in the fair.

    This time, a North-East Pavilion has also been set up at the Gurugram SARAS Mela so that priority can be given to the North-Eastern states and state-wise pavilions will be made for each state to give them priority. Medical help desk and ambulance facilities will be available for health services at the fair. The contribution of Gurugram district administration and Haryana State Livelihood Mission is also being taken to provide various facilities to the women of self-help groups and to make the fair a success.

    With the support of the Ministry of Rural Development (Government of India) and the National Institute of Rural Development and Panchayati Raj (NIRDPR), SARAS Melas have been organized for the last 26 years. This has provided employment opportunities to lakhs of rural women and lakhs of women have learned marketing skills as well.

    The Ministry of Rural Development, in collaboration with National Institute of Rural Development and Panchayati Raj (NIRDPR) under Deen Dayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM), is providing a marketing platform through SARAS Melas to rural women self-help groups to sell their products. Through SARAS Melas, members of rural women self-help groups get an opportunity to directly communicate with urban customers, know the market interest and accordingly determine the pricing of their products by improving the packaging of their products.

    Through SARAS Melas, women of rural self-help groups are not only creating livelihood opportunities but are also setting a great example of women empowerment in the country. This is definitely a milestone in the livelihood journey. SARAS Melas are being organized continuously since the year 1999. The living standards of lakhs of women have improved through these fairs.

    ******

    SS

    (Release ID: 2063900) Visitor Counter : 38

    Read this release in: Hindi

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Department of Revenue, Ministry of Finance, is observing Special Campaign 4.0 from 2nd to 31st October, 2024 for promoting cleanliness and disposal of pending matters

    Source: Government of India

    Posted On: 10 OCT 2024 6:51PM by PIB Delhi

    The Department of Revenue (DoR), Ministry of Finance, is observing the Special Campaign 4.0 from 2nd to 31st October, 2024, with a focus on clearing pending matters and ensuring the Swachhta (cleanliness) of office premises.

    During the earlier period Of Special Campaign 3.0 in 2023, the DoR disposed of a total of 12 pending references from Members of Parliament, 110 Public Grievances and 110 Public Grievances Appeals. Further, a total of 580 physical files were weeded out after being reviewed. Further with the scrap disposal, revenue of Rs. 9600/- was also generated. These campaigns have resulted in an overall improvement in the office atmosphere, with better space management and a healthier working environment.

    This year also the DoR has formulated a comprehensive plan for clearing pendency, cleanliness, space management, beautification of the offices and review and weeding out of old files.

    During the Execution Phase, also known as Phase-II, disposal of all identified pending matters and site cleaning exercises will be undertaken. During the Special Campaign 4.0, the DoR is committed to set new benchmark in efficiency and cleanliness further contributing to a cleaner and more effective governance.

    ****

    NB/KMN

    (Release ID: 2063930) Visitor Counter : 27

    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Union Home Minister and Minister of Cooperation, Shri Amit Shah addresses 119th Annual Session of PHD Chamber of Commerce and Industry in New Delhi as the Chief Guest

    Source: Government of India (2)

    Union Home Minister and Minister of Cooperation, Shri Amit Shah addresses 119th Annual Session of PHD Chamber of Commerce and Industry in New Delhi as the Chief Guest

    Shri Narendra Modi, first as Chief Minister and then as Prime Minister of the country for the third consecutive term, has been winning the trust of people in a democratic way for the last 23 years

    PM Modi is a rare combination of vision, experience and commitment

    PHD Chamber of Commerce and Industry is an important link between industry and the government

    PHD Chamber should implement policies, plans and vision of the government and communicate the pressing issues of industry to the government

    In the last 10 years, Prime Minister Modi has laid the foundation of making India rank one in every field in the World

    PM Modi took the country out of ‘policy paralysis’ and established the politics of performance

    Indian economy, which earlier figured among the ‘Fragile Five’, has emerged as a ‘bright spot’ in the World, under the leadership of PM Modi  

    The public banking system, which was in shambles before 2014, has earned a profit of ₹1.40 lakh crore in FY 2023-24, under the leadership of Prime Minister Modi  

    By abolishing more than 2000 colonial laws and more than 39,000 compliances, Modi government made the lives of people easier

    PM Modi has established a research foundation at a cost of ₹50 thousand crores, which will take India to the top in the field of research in the world in the next 25 years

    Union Home Minister Shri Amit Shah pays tribute to the renowned industrialist Ratan Tata on his demise

    Ratan Tata ji was a respected figure not only in Indian industrial sector but globally as well, he has left behind a legacy which will continue to guide leaders in the industrial sector for a long time

    Ratan Tata ji worked to build a good society by solving all the problems of the country through his trust

    Posted On: 10 OCT 2024 7:04PM by PIB Delhi

    Union Home Minister and Minister of Cooperation, Shri Amit Shah today addressed the 119th Annual Session of PHD Chamber of Commerce and Industry (PHDCCI) in New Delhi as the Chief Guest. The theme of this year’s annual session was ‘Viksit Bharat @ 2047: Marching Towards the Peak of Progress’. Around 1500 business persons, Chartered Accountants, bankers, advocates etc. from the industry participated in the event.

    Union Home Minister Shri Amit Shah began his address with tributes to the renowned industrialist Shri Ratan Tata, who passed away last night in Mumbai. Shri Amit Shah said that Shri Ratan Tata has been a respected figure not only in the Indian industrial sector but globally as well. He took charge of the Tata Group at a time when the group needed several changes, and Ratan Tata patiently transformed all the businesses of his group and working practices. Shri Shah said that even today, the Tata Group stands as a pole star in India’s industrial landscape. He added that Ratan Tata led his industrial group to a prominent position in the country and globally while adhering to integrity and following all the rules and regulations. Shri Shah also said that through his Trust, Ratan Tata made efforts to address the country’s various problems and contribute to building a better society. He said that Shri Ratan Tata’s legacy will continue to guide industry leaders for a long time.

    Union Home Minister said that this year is going to be a decisive one for Indian industry, and it is at such a time that the 119th annual convention of PHD Chamber of Commerce and Industry (PHDCCI) is being organized. He said that today, there seems to be a crisis of trust in countries worldwide. He said that Shri Narendra Modi, first as the Chief Minister and then as the Prime Minister of the country, has continuously been winning the trust of the people democratically for the past 23 years. Shri Shah said that without stability, policies cannot be implemented effectively and security and development cannot be ensured. He added that stability brings continuity in policies, ideas, and development. Shri Shah further said that PM Modi has get this vast country rid of many problems over the past 10 years and he is now leading the nation for the third consecutive time.

    Shri Amit Shah said that today’s theme ‘Viksit Bharat @ 2047: Marching Towards the Peak of Progress’ is very appropriate. He said that Prime Minister Modi has set two major goals before us: India will become a fully developed nation when the country celebrates the centenary of its independence in 2047 and by 2027, India will become the world’s third-largest economy. He said that to achieve these two goals, PM Modi has been working tirelessly for the past 10 years through various policies and programs. Shri Shah emphasized that PM Modi has implemented visionary policies aimed at developing infrastructure in the country, making India a global manufacturing hub, creating an investment-friendly ecosystem, building a skilled work-force, promoting research and development, pioneering India in emerging technologies like advanced computing, and initiating new ventures in fields like deep-sea exploration, the maritime economy, and space. He added that Prime Minister Modi has not only formulated these policies but also made continuous efforts to ensure their implementation.

    Union Home Minister said that PHD Chamber of Commerce and Industry is a bridge between the industry and the Government. He said that in the coming times, PHD Chamber has to implement the policies, plans and vision of the government and convey the problems of the industry to the government. He added that we have achieved a lot in the last 10 years. Infrastructure like the world’s longest highway tunnel, the world’s highest railway bridge, Mumbai’s world-famous Trans-Harbour Link and Kolkata’s underwater metro have been built in the last 10 years. Shri Shah said that in Andaman-Nicobar Islands and Lakshadweep, work has been done to utilize business opportunities and strengthen these islands from a security point of view by bringing connectivity to remote areas through underwater optical fibre.

    Shri Amit Shah said that every Indian took great pride when Indian flag was hoisted at the Shiva Shakti Point on the Moon. Connecting the underdeveloped regions of the country through the SagarMala project, weaving a network of Vande Bharat Express trains to open a new avenue for comfortable travel in the country, advancing in semiconductor manufacturing to meet not only ours but also needs of the entire world, bringing a new revolution in electric vehicles, and increasing FDI to record levels, making India the fourth-largest holder of foreign exchange reserves in the world, are significant achievements for us.

    Union Home Minister said that we are the fastest-growing start-up economy in the world. We have successfully launched the world’s largest digital payment system, which many countries are now adopting. He said that along with this, Prime Minister Modi has introduced the world’s largest grain storage plan based in cooperatives. Shri Shah said that from food security to health security, we have covered all dimensions, and in the past 10 years under PM Modi’s leadership, the foundation has been laid for India to be at the forefront in every field over the next 25 years. He said that when vision, experience, and commitment come together in one individual, and that individual is the Prime Minister, the country benefits immensely, and Shri Narendra Modi is an excellent example of this.

    Shri Amit Shah said that India is a democracy where people decide who should lead the government. He said that without a comparative study, we cannot make a proper evaluation of the work done. He emphasized the need to look at the comparative situation of the country in 2014 and 2024. He stated that before 2014, everyone used to say that our country was suffering from policy paralysis and no policies were being made, but PM Modi ended this policy paralysis, created numerous policies and brought in politics of performance. Shri Shah added that today, there is no sector where a permanent policy hasn’t been formulated. Earlier, India was amongst the “Fragile Five,” but today, the International Monetary Fund (IMF) calls us a “bright spot” in the global economy.

    Union Home Minister and Minister of Cooperation highlighted that under infrastructure development, projects like the Zoji La tunnel, Chenab rail bridge, and the bridge in Assam are there for everyone to see. He said that earlier, India used to have double-digit inflation, but today we are confidently moving toward double-digit growth. He said that for many years, India’s growth rate has been the highest among G20 countries. Shri Shah said that global investors had lost confidence in India, but today India has become a preferred destination for manufacturing. Shri Shah said that in 2021-22, we attracted a record Foreign Direct Investment (FDI) of $85 billion. He said that today we are leading in many sectors like digital payments. Before 2014, scams worth ₹12 lakh crore had taken place, but in the 10 years of the Modi government, even our opponents cannot accuse us of corruption.

    Shri Amit Shah said that during previous government, terrorism, bomb blasts, and Naxalism had become severe issues for the country, but today we can confidently say that whether it’s Kashmir, Left-Wing Extremism affected areas, or the Northeast, we have successfully eliminated terrorism and extremism. He mentioned that in the Ease of Doing Business rankings, India was previously placed at the 142nd position, but today we have risen to the 63rd position. He also highlighted that the entire banking system was in a fragile state, but in 2023-24, government banks earned a profit of ₹1.40 lakh crore. New policies have been introduced in every sector, helping the country move forward.

    Union Home Minister said that if the country wants to progress, it must have a new education policy, and Prime Minister Shri Narendra Modi brought a New Education Policy that has globalized education while incorporating our heritage. He said that initiatives like GST, Digital India, Bharatmala, SagarMala, PM Gati Shakti, and Startup India have propelled the country forward in all directions.

    Shri Amit Shah said that under the leadership of Prime Minister Shri Narendra Modi and the principle of “Minimum Government, Maximum Governance”, 2,000 outdated colonial laws have been abolished, and over 39,000 compliances across various sectors have been eliminated. He highlighted that in the past 10 years, 80 crore people have been receiving 5 kg of free grain per person, houses provided to 4 crore poor, 15 crore households have received piped water, more than 11 crore people have been given free gas connections, and over 12 crore toilets have been built under the leadership of Prime Minister Shri Narendra Modi. Shri Shah said that Prime Minister Modi has alleviated the concerns of millions and transformed India into a market of 130 crore people. He said that when 60 crore people are excluded from the country’s development process, the country can never progress. Today, with 130 crore people engaged in the nation’s development process, our growth rate has surged upward.

    Union Home Minister and Minister of Cooperation said that the Modi government has made significant efforts in the field of research. He said that for the first time, a research foundation has been established with a budget of ₹50,000 crore. He expressed confidence that in the next 25 years, India will be at the forefront of global research. Shri Shah mentioned that Prime Minister Modi has worked extensively across various sectors. In terms of internet users, India ranks second in the world, while it ranks first in global Fintech adoption and smartphone data consumption. He further highlighted that today half of the world’s daily digital transactions take place in India.

    Shri Amit Shah said that Indian industries must now work towards changing both their size and scale. He emphasized the need for companies to go global and that to establish India’s dominance worldwide, our chambers and industries need to make decisive moves.

    *****

    RK/ASH/PR/PS

    (Release ID: 2063932) Visitor Counter : 115

    Read this release in: Hindi

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Apple Retail Workers in Bethesda, Md., File for Union Election with Communications Workers of America

    Source: Communications Workers of America

    (Bethesda, Md.)—Today, retail workers at the Bethesda Row Apple store in Maryland filed for a union election with the National Labor Relations Board. Over 70% of the group of 59 workers have signed union authorization cards, including workers in a range of retail, repair, and other job roles. The Bethesda Row Apple store workers will be represented by CWA.

    The filing comes nearly three weeks after Apple retail workers in Oklahoma City, represented by the Communications Workers of America (CWA), became the second store in the U.S. to secure a tentative contract agreement with the tech giant.

    “It has been inspiring to see our colleagues in Oklahoma City and Towson organize and win better working conditions and job protections at the bargaining table. Their efforts have made it clear that a union is not only better for workers, but better for the company. My colleagues and I at the Apple Bethesda Row store in Maryland care deeply about our jobs and want to secure the transparency, pay, benefits, and job stability that we deserve.” said Peter Cascio, Operations specialist at Apple. 

    “With a voice on the job, we will now have the collective power to hold Apple accountable to its retail credo and to get the rights we deserve. We’re excited to be standing shoulder-to-shoulder with other workers as part of Apple Retail Union-CWA to ensure that Apple continues to be a positive place to work, providing high-quality service to its consumer base,” said Jimmy Hemmig, Technical expert at Apple. 

    With support for labor unions near record highs, momentum for union organizing has been building among Apple retail workers. Instead of recognizing changing attitudes and embracing the opportunity to give workers a meaningful say in their working conditions, Apple executives have worked with anti-union consultants to deploy aggressive, sometimes illegal, tactics to prevent workers from making a free and fair choice about whether or not to join a union. Workers at the CWA-represented Apple store in Oklahoma City and the IAM-represented store in Towson, Md., have overcome Apple’s attempts to intimidate them and secured legally enforceable contracts that provide the security and stability they need to provide the high levels of service Apple customers expect.

    “My hope with our union is to make it easier for us to do our best work and to further our relationship not just with each other, but with our community. We have one of the most loyal customer bases in any retail industry. We want to make sure Apple allows us to do our best by our customers because it strengthens their trust in Apple as a company. We want to accomplish these things without compromising ourselves and our own values, and to make sure we get compensated fairly while pursuing our passion,” said Jan Molina, Product Specialist at Apple. 

    “We’re honored to welcome the workers at the Bethesda Row Apple store in Maryland as members of CWA. Increasingly more and more workers in the DMV are exercising their right to organize, bringing greater protections to union members in the tech and video game industry. In the past, we’ve seen Apple choose to undermine its employees’ right to organize. We call on Apple to change course, live up to its credo, and respect workers’ right to form a union,” said Johnny Brown, President of CWA Local 2108.

    Apple workers interested in improving their working conditions and having the protections of a union contract should visit this site to learn more about organizing.

    ###

    The Campaign to Organize Digital Employees (CODE-CWA) is a network of worker-organizers and their staff working every single day to build the voice and power necessary to ensure the future of the tech, game, and digital industries in the United States and Canada. CODE-CWA is a project of the Communications Workers of America, which represents hundreds of thousands of workers throughout tech, media, telecom, and other industries who stand together to fight for justice on the job and in our communities.

    cwa-union.org @cwaunion

    MIL OSI USA News –

  • MIL-OSI: ThreeD Capital Inc. Issues Early Warning Report in Connection with Acquisition of Securities of Avicanna Inc.

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 10, 2024 (GLOBE NEWSWIRE) — ThreeD Capital Inc. (“ThreeD”) (CSE:IDK / OTCQX:IDKFF) a Canadian based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors, announces that through a series of transactions settling between October 1, 2024 and October 7, 2024 (the “Acquisitions”), ThreeD acquired ownership and control of an aggregate of 1,483,000 common shares of the Company (the “Subject Shares”). The Subject Shares represented approximately 1.4% of all issued and outstanding common shares of the Company. As a result of the Acquisitions, the percentage ownership held by ThreeD and Sheldon Inwentash (the “Joint Actor”) increased above 2%, on a partially diluted basis, from the last early warning report filed.

    Immediately prior to the Acquisitions, ThreeD and the Joint Actor owned and controlled an aggregate of 14,776,257 common shares, 2,241,250 common share purchase warrants of the Company, and 50,000 stock options, representing approximately 13.8% of all issued and outstanding common shares of AVCN (or approximately 15.6% on a partially diluted basis, assuming exercise of the warrants and options held). Of this total, ThreeD held an aggregate of 8,707,300 common shares and 1,623,750 common share purchase warrants of the Company, representing approximately 8.1% of the issued and outstanding common shares of AVCN (or approximately 9.5% on a partially diluted basis, assuming exercise of the warrants held). The Joint Actor held an aggregate of 6,068,957 common shares, 617,500 common share purchase warrants, and 50,000 stock options of the Company, representing approximately 5.7% of the issued and outstanding shares of AVCN (or approximately 6.3% on a partially diluted basis, assuming exercise of the warrants and options held).

    Immediately following the Acquisitions, ThreeD and the Joint Actor own and control an aggregate of 16,259,257 common shares, 2,241,250 common share purchase warrants, and 50,000 stock options of the Company, representing approximately 15.2% of all issued and outstanding common shares of AVCN (or approximately 17.0% on a partially diluted basis, assuming exercise of the warrants and options held). Of this total, ThreeD held an aggregate of 10,190,300 common shares and 1,623,750 common share purchase warrants of the Company, representing approximately 9.5% of the issued and outstanding common shares of AVCN (or approximately 10.9% on a partially diluted basis assuming the exercise of the warrants held). The Joint Actor held an aggregate of 6,068,957 common shares, 617,500 common share purchase warrants, and 50,000 stock options of the Company, representing 5.7% of the issued and outstanding common shares of AVCN (or approximately 6.3% on a partially diluted basis, assuming exercise of the warrants and options held).

    The holdings of securities of the Company by ThreeD and the Joint Actor are managed for investment purposes. ThreeD and the Joint Actor could increase or decrease its investments in the Company at any time, or continue to maintain its current position, depending on market conditions or any other relevant factor.

    The Subject Shares were acquired through the facilities of the Toronto Stock Exchange for total consideration of $571,407, or approximately $0.385 per Subject Share.

    About ThreeD Capital Inc.

    ThreeD is a publicly-traded Canadian-based venture capital firm focused on opportunistic investments in companies in the junior resources and disruptive technologies sectors.  ThreeD’s investment strategy is to invest in multiple private and public companies across a variety of sectors globally. ThreeD seeks to invest in early stage, promising companies where it may be the lead investor and can additionally provide investees with advisory services and access to the Company’s ecosystem.

    For further information:
     
    Matthew Davis, CPA
    Chief Financial Officer and Corporate Secretary
    davis@threedcap.com
    Phone: 416-941-8900
     

    The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

    The MIL Network –

  • MIL-OSI: Guggenheim Fourth Quarter 2024 High Yield and Bank Loan Outlook: Fed Rate Cuts Are Positive for Leveraged Credit (With a Few Caveats)

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 10, 2024 (GLOBE NEWSWIRE) — Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, today provided its Fourth Quarter 2024 High Yield and Bank Loan Outlook. Titled “Fed Rate Cuts Are Positive for Leveraged Credit (With a Few Caveats),” the report explores the outlook for high yield corporate bonds and leveraged loans as the Federal Reserve (Fed) cuts interest rates.  

    Among the highlights in the report:

    • The effects of the Fed’s inaugural interest-rate cut and anticipated future cuts have begun to materialize, but the benefit to the credit markets will vary meaningfully by sector and issuer.
    • While overall financial conditions have eased in response to rate cuts, the benefits to credit may be muted, particularly in the high yield corporate bond market, which is likely to absorb higher interest rates for several years as existing low-interest-rate debt gets refinanced.
    • In the near term, the refinancing burden for high yield issuers is manageable, with just 4 percent of the total market maturing in 2025, and 9 percent due in 2026.
    • Leveraged loan borrowers are poised to benefit more directly from the Fed’s easing cycle due to their loans’ floating-rate nature and the continued repricing of contractual spreads lower. 
    • High yield corporate bonds and leveraged loans currently offer attractive yields of 7 percent and 9 percent, respectively. We slightly favor loans, given better implied returns available to those with the expertise to differentiate across credits. 
    • As the Fed continues to ease rates, bank loan yields will decline while high yield corporate yields will likely remain largely unchanged, potentially making the value proposition more balanced.
    • For high yield bonds, the distress ratio has been a good indicator of likely defaults within the next nine–12 months. The relationship for loans is weaker.
    • While both high yield bonds and leveraged loans offer value, investors should prioritize quality, focusing on higher rated issuers and maintaining senior positions in the capital structure. In the current environment, rigorous credit selection is crucial for navigating potential risks and capitalizing on opportunities.

    For more information, please visit http://www.guggenheiminvestments.com.

    About Guggenheim Investments

    Guggenheim Investments is the global asset management and investment advisory division of Guggenheim Partners, with more than $235 billion1 in total assets across fixed income, equity, and alternative strategies. We focus on the return and risk needs of insurance companies, corporate and public pension funds, sovereign wealth funds, endowments and foundations, consultants, wealth managers, and high-net-worth investors. Our 235+ investment professionals perform rigorous research to understand market trends and identify undervalued opportunities in areas that are often complex and underfollowed. This approach to investment management has enabled us to deliver innovative strategies providing diversification opportunities and attractive long-term results.

    1. Guggenheim Investments Assets Under Management are as of 6.30.2024 and include leverage of $15.1bn. Guggenheim Investments represents the following affiliated investment management businesses of Guggenheim Partners, LLC: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Japan Limited, and GS GAMMA Advisors, LLC.

    Investing involves risk, including the possible loss of principal. In general, the value of a fixed-income security falls when interest rates rise and rises when interest rates fall. Longer term bonds are more sensitive to interest rate changes and subject to greater volatility than those with shorter maturities. During periods of declining rates, the interest rates on floating rate securities generally reset downward and their value is unlikely to rise to the same extent as comparable fixed rate securities.  High yield and unrated debt securities are at a greater risk of default than investment grade bonds and may be less liquid, which may increase volatility. Investors in asset-backed securities, including mortgage-backed securities and collateralized loan obligations (“CLOs”), generally receive payments that are part interest and part return of principal. These payments may vary based on the rate loans are repaid. Some asset-backed securities may have structures that make their reaction to interest rates and other factors difficult to predict, making their prices volatile and they are subject to liquidity and valuation risk. CLOs bear similar risks to investing in loans directly, such as credit, interest rate, counterparty, prepayment, liquidity, and valuation risks. Loans are often below investment grade, may be unrated, and typically offer a fixed or floating interest rate.

    This material is distributed or presented for informational or educational purposes only and should not be considered a recommendation of any particular security, strategy, or investment product, or as investing advice of any kind. This material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. The content contained herein is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific situation.

    This material contains opinions of the author, but not necessarily those of Guggenheim Partners, LLC, or its subsidiaries. The opinions contained herein are subject to change without notice. Forward-looking statements, estimates, and certain information contained herein are based upon proprietary and non-proprietary research and other sources. Information contained herein has been obtained from sources believed to be reliable but are not assured as to accuracy. Past performance is not indicative of future results. There is neither representation nor warranty as to the current accuracy of, nor liability for, decisions based on such information. No part of this material may be reproduced or referred to in any form, without express written permission of Guggenheim Partners, LLC.

    Media Contact
    Gerard Carney
    Guggenheim Partners
    310.871.9208
    Gerard.Carney@guggenheimpartners.com

    The MIL Network –

  • MIL-OSI: Targa Resources Corp. Announces Quarterly Dividend and Timing of Third Quarter 2024 Earnings Webcast

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Oct. 10, 2024 (GLOBE NEWSWIRE) — Targa Resources Corp. (NYSE: TRGP) (“Targa” or the “Company”) announced its quarterly dividend on common shares with respect to the third quarter of 2024.

    Targa announced today that its board of directors has declared a quarterly cash dividend of $0.75 per common share, or $3.00 per common share on an annualized basis, for the third quarter of 2024. This cash dividend will be paid November 15, 2024 on all outstanding common shares to holders of record as of the close of business on October 31, 2024.

    The Company will report its third quarter 2024 financial results before the market opens for trading on Tuesday, November 5, 2024 and will host a live webcast over the internet at 11:00 a.m. Eastern Time (10:00 a.m. Central Time) to discuss its 2024 third quarter financial results.

    Event Information
    Event: Targa Resources Corp. Third Quarter 2024 Earnings Webcast and Presentation
    Date: Tuesday, November 5, 2024
    Time: 11:00 a.m. Eastern Time
    Webcast: www.targaresources.com under “Events and Presentations” or directly at https://edge.media-server.com/mmc/p/yf8cw4hf

    Replay Information 
    A webcast replay will be available at the link above approximately two hours after the conclusion of the event. A quarterly earnings supplement presentation and updated investor presentation will also be available under Events and Presentations in the Investors section of the Company’s website prior to the start of the conference call, or directly at https://www.targaresources.com/investors/events.

    About Targa Resources Corp.

    Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream infrastructure companies in North America. The Company owns, operates, acquires and develops a diversified portfolio of complementary domestic midstream infrastructure assets and its operations are critical to the efficient, safe and reliable delivery of energy across the United States and increasingly to the world. The Company’s assets connect natural gas and NGLs to domestic and international markets with growing demand for cleaner fuels and feedstocks. The Company is primarily engaged in the business of: gathering, compressing, treating, processing, transporting, and purchasing and selling natural gas; transporting, storing, fractionating, treating, and purchasing and selling NGLs and NGL products, including services to LPG exporters; and gathering, storing, terminaling, and purchasing and selling crude oil.

    Targa is a FORTUNE 500 company and is included in the S&P 500.

    For more information, please visit the Company’s website at http://www.targaresources.com.

    Forward-Looking Statements

    Certain statements in this release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included in this release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future, are forward-looking statements, including statements regarding our projected financial performance and capital spending. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of uncertainties, factors and risks, many of which are outside the Company’s control, which could cause results to differ materially from those expected by management of the Company. Such risks and uncertainties include, but are not limited to, weather, political, economic and market conditions, including a decline in the price and market demand for natural gas, natural gas liquids and crude oil, the impact of pandemics or any other public health crises, commodity price volatility due to ongoing or new global conflicts, actions by the Organization of the Petroleum Exporting Countries (“OPEC”) and non-OPEC oil producing countries, the impact of disruptions in the bank and capital markets, including those resulting from lack of access to liquidity for banking and financial services firms, the timing and success of business development efforts and other uncertainties. These and other applicable uncertainties, factors and risks are described more fully in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, and any subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The Company does not undertake an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

    Contact the Company’s investor relations department by email at
    InvestorRelations@targaresources.com or by phone at (713) 584-1133.

    Sanjay Lad
    Vice President, Finance & Investor Relations

    William Byers
    Chief Financial Officer

    Jennifer Kneale
    President – Finance and Administration

    The MIL Network –

  • MIL-OSI: LLR Partners Completes Strategic Growth Investment in TurboTenant

    Source: GlobeNewswire (MIL-OSI)

    FORT COLLINS, Colo., Oct. 10, 2024 (GLOBE NEWSWIRE) — LLR Partners today announced a strategic growth investment in TurboTenant, a leading property management solution for landlords. The capital will be used to help support the growth of the business organically and through acquisitions as it continues to redefine the landlord experience by simplifying the entire lifecycle of property management under one solution.

    More than 700,000 independent landlords across the U.S. use TurboTenant’s all-in-one online property management platform for critical processes including finding and screening tenants, rent payments, and lease agreements. The company’s freemium model allows TurboTenant to onboard hundreds of landlords per day and scale up with them through additional subscription services.

    “TurboTenant is a well-known brand with highly satisfied customers in a fast-growing, yet still largely underserved, software market,” said Cheng Li, Principal at LLR Partners. “Independent landlords are one of the last real estate markets with significant opportunity for technology adoption and optimization. We believe TurboTenant’s brand strength, leadership team, and business model have positioned the company well to continue its path to market leadership.”

    Several dynamics are affecting the real estate sector, including high interest rates, low housing affordability, low inventory, and stabilizing rent prices. These are driving many Americans to continue to rent rather than buy their first home, while others choose to rent out their former homes after moving. TurboTenant sees that many of its users shift from manual methods, like pen and paper, to its software for a more streamlined property management process.

    “It was clear to us that LLR understands the space and has developed a clear thesis that can help TurboTenant capture this market,” said Seamus Nally, CEO of TurboTenant. “We are excited to partner with the LLR team to leverage their industry knowledge and value creation capabilities to expand our platform to help meet the many needs of the 14.1 million individual landlords¹ in the U.S. as they accomplish their goals through thriving real estate businesses.”

    TurboTenant’s previous investors remain minority shareholders in the business. This is LLR’s fourth investment in real estate technology, having invested in Appspace, Mortgage Coach, and Stealth Monitoring.

    About TurboTenant
    More than 700,000 independent landlords across the U.S. enjoy TurboTenant’s all-in-one online property management solutions, including rental applications, tenant screening, rent payments, and lease agreements. Please contact press@turbotenant.com or visit turbotenant.com for more information.

    About LLR Partners
    LLR Partners is a private equity firm investing in technology and healthcare businesses. We collaborate with our portfolio companies to identify and execute on key growth initiatives and help create long-term value. Founded in 1999 and with more than $7 billion raised across seven funds, LLR is a flexible provider of equity capital for growth, recapitalizations and buyouts. Learn more at https://www.llrpartners.com/.

    Footnotes:

    1. Census Bureau, “Rental Housing Finance Survey,” 2018; Pew Research Center analysis

    Contacts:

    Emily Oakes

    LLR Partners 484-467-8517

    eoakes@llrpartners.com

    Harrison Stevens
    TurboTenant
    press@turbotenant.com

    The MIL Network –

  • MIL-OSI: Asphalt Ridge Option Period to Acquire Remaining 17.75% Working Interest Extended to December 10, 2024

    Source: GlobeNewswire (MIL-OSI)

    Bakersfield, CA, Oct. 10, 2024 (GLOBE NEWSWIRE) — Trio Petroleum Corp (NYSE American: “TPET”, “Trio” or the “Company”), a California-based oil and gas company, today provided updates on its Asphalt Ridge Project in Uintah County, Utah.

    TPET announced on January 5, 2024, that it had secured an option (the “Option”) to acquire a 20% interest in a sweet (i.e., low sulfur content), heavy-oil and tar-sand development project at Asphalt Ridge, located near the town of Vernal in Uintah County, northeastern Utah. We announced on June 11, 2024, the successful drilling and completion of the first two exploratory wells at the project, the HSO 2-4 and HSO 8-4, that the wells encountered substantial oil-bearing pay zones in the Rimrock and Asphalt Ridge tar-sands (over 190’of oil-pay in HSO 2-4 and over 100’ of oil-pay in HSO 8-4), and that a downhole-heater was installed in the HSO 2-4 well. On September 12, 2024, Trio announced oil production from its first well HSO 2-4.

    Initial test results at the HSO 2-4 well have since been encouraging, with mobile oil and fluids already showing a significant oil cut while dewatering occurs. The fluids are a result of an initial temperature test where water was pumped downhole which will not be done in the future.

    TPET currently owns a 2.25% working interest in 960 acres at Asphalt Ridge, and under the Option may acquire up to an additional 17.75% working interest in the same 960 acres and also a 20% interest in an adjacent 1,920 acres, and also has a right of first refusal to participate in an additional approximate 30,000 acres of the greater Asphalt Ridge Project on terms offered to other third parties. TPET has secured a two-month Option extension and now has until December 10, 2024, to exercise its right to acquire the remaining 17.75% interest in the initial 960 acres. TPET has until the earlier of the successful drilling and completion of 50 new wells, or November 10, 2025, to exercise its option on the adjacent 1,920 acres.

    The Asphalt Ridge Project is known to be one of the largest tar-sand deposits in North America outside of Canada, making it a potential giant oilfield, and is unique given its low wax and negligible sulfur content, which is expected to make the oil very desirable for many industries, including shipping. The project has the potential to be both immense and highly profitable. A typical project well has an estimated ultimate recovery (“EUR”) of 300,000 barrels of oil with an initial production rate of approximately 40 barrels of oil per day.

    About Trio Petroleum Corp

    Trio Petroleum Corp is an oil and gas exploration and development company headquartered in Bakersfield, California, with operations in Monterey County, California, and Uintah County, Utah. In Monterey County, Trio owns a 85.75% working interest in 9,245 acres at the Presidents and Humpback oilfields in the South Salinas Project, and a 21.92% working interest in 800 acres in the McCool Ranch Field. In Uintah County, Trio owns a 2.25% working interest in 960 acres and options to acquire up to an additional 17.75% working interest in the 960 acres, and also a 20% working interest in an adjacent 1,920 acres, and a right of first refusal to participate in up to a 20% working interest in an additional approximate 30,000 acres of the Asphalt Ridge Project with other third parties.

    Cautionary Statement Regarding Forward-Looking Statements

    All statements in this press release of Trio Petroleum Corp (“Trio”) and its representatives and partners that are not based on historical fact are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Acts”). In particular, when used in the preceding discussion, the words “estimates,” “believes,” “hopes,” “expects,” “intends,” “on-track”, “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Acts and are subject to the safe harbor created by the Acts. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the Trio’s control, that could cause actual results to materially and adversely differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth in the Risk Factors section of the Trio’s S-1 filed with the Securities and Exchange Commission (SEC). Copies are of such documents are available on the SEC’s website, http://www.sec.gov. Trio undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    Investor Relations Contact:
    Redwood Empire Financial Communications
    Michael Bayes
    (404) 809 4172
    michael@redwoodefc.com

    The MIL Network –

  • MIL-OSI: TeraWulf Enters Into Long-Term Ground Lease at Lake Mariner Facility to Attract High-Quality Customers

    Source: GlobeNewswire (MIL-OSI)

    EASTON, Md., Oct. 10, 2024 (GLOBE NEWSWIRE) — TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), a leading owner and operator of vertically integrated, next-generation digital infrastructure powered by predominantly zero-carbon energy, today announced a new, long-term ground lease agreement at Lake Mariner (“New Ground Lease”) that supports the Company’s expansion into high-performance computing (HPC) and AI data centers and positions TeraWulf to attract long-term, high-quality customers.

    The New Ground Lease with Somerset Operating Company, LLC (“Somerset”) replaces the original Lake Mariner lease, which was entered into in May 2021 and had ten years remaining. The New Ground Lease has a term of 35 years, with an option to extend for an additional 45 years, and increases the Lake Mariner land area by nearly 50%, expanding from 107 acres to 157 acres. Importantly, the New Ground Lease includes no escalation in annual lease payments on a per acre basis when compared to the original Lake Mariner lease and also grants TeraWulf exclusive access to infrastructure capacity of up to 750 MW, facilitating the Company’s future growth plans and value creation initiatives.

    The New Ground Lease was negotiated and approved by the Audit Committee of the Company’s Board of Directors (the “Committee”), which is comprised of three independent directors. The Committee consulted independent legal counsel and the Company’s financial advisor, as Somerset is owned by the Company’s Chief Executive Officer. The Committee received an opinion from the Company’s financial advisor that the consideration to be received by the Company is fair, from a financial point of view, to the Company.

    The consideration paid to Somerset’s parent company in exchange for Somerset’s termination of the original lease and entering into the New Ground Lease is comprised of 20 million shares of TeraWulf’s common stock and $12 million in cash. Under the terms of the New Lease, Somerset’s parent company will be prohibited from selling 15 million shares for 18 months and the remaining 5 million shares for 12 months. The primarily equity-based structure of the consideration further aligns the interests of TeraWulf’s Chief Executive Officer with the long-term financial and operational goals of the Company and its shareholders.

    About TeraWulf

    TeraWulf develops, owns, and operates environmentally sustainable, next-generation data center infrastructure in the United States, specifically designed for Bitcoin mining and high-performance computing. Led by a team of seasoned energy entrepreneurs, the Company owns and operates the Lake Mariner facility situated on the expansive site of a now retired coal plant in Western New York. Currently, TeraWulf generates revenue primarily through Bitcoin mining, leveraging predominantly zero-carbon energy sources, including nuclear and hydroelectric power. Committed to environmental, social, and governance (ESG) principles that align with its business objectives, TeraWulf aims to deliver industry-leading economics in mining and data center operations at an industrial scale.

    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, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) conditions in the cryptocurrency mining industry, including fluctuation in the market pricing of bitcoin and other cryptocurrencies, and the economics of cryptocurrency mining, including as to variables or factors affecting the cost, efficiency and profitability of cryptocurrency mining; (2) competition among the various providers of cryptocurrency mining services; (3) changes in applicable laws, regulations and/or permits affecting TeraWulf’s operations or the industries in which it operates, including regulation regarding power generation, cryptocurrency usage and/or cryptocurrency mining, and/or regulation regarding safety, health, environmental and other matters, which could require significant expenditures; (4) the ability to implement certain business objectives and to timely and cost-effectively execute integrated projects; (5) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to growth strategies or operations; (6) loss of public confidence in bitcoin or other cryptocurrencies and the potential for cryptocurrency market manipulation; (7) adverse geopolitical or economic conditions, including a high inflationary environment; (8) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (9) the availability, delivery schedule and cost of equipment necessary to maintain and grow the business and operations of TeraWulf, including mining equipment and infrastructure equipment meeting the technical or other specifications required to achieve its growth strategy; (10) employment workforce factors, including the loss of key employees; (11) litigation relating to TeraWulf and/or its business; and (12) other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the SEC, which are available at http://www.sec.gov.

    Company Contact:
    Jason Assad
    Director of Corporate Communications
    assad@terawulf.com
    (678) 570-6791

    The MIL Network –

  • MIL-OSI: Top Fastener Distributor Chooses AI-Powered HawkSearch

    Source: GlobeNewswire (MIL-OSI)

    WOBURN, Mass., Oct. 10, 2024 (GLOBE NEWSWIRE) — Bridgeline Digital, Inc. (NASDAQ: BLIN), a leader in AI-powered search solutions, announces that a leader in fastener distribution has selected HawkSearch to enhance its search experience across 15 countries and 12 languages.

    The fastener distributor will leverage HawkSearch’s Keyword & Concept Search features to improve product discovery. HawkSearch will enhance the leader’s search accuracy, solve synonyms and abbreviation complexities, and improve the searchability of industry jargon. Additionally, it will optimize part number searches, ensure accurate results for terms with varying spacing, support different format variations, and incorporate advanced machine learning and reporting capabilities.

    This partnership reinforces HawkSearch’s position as a leading solution for the B2B sector, demonstrating its commitment to delivering exceptional search experiences.

    “With the complex demands of the fastener industry, our platform is designed to provide a more intuitive and efficient search experience,” said Ari Kahn, CEO of Bridgeline. “HawkSearch will help them meet customer expectations and set a new standard for product discovery in the fastener sector.”

    About Bridgeline Digital

    Bridgeline helps companies grow revenue by increasing traffic, conversion rates, and average order value through AI-powered solutions. To learn more, visit http://www.bridgeline.com.

    Contact:

    Danielle Colvin

    SVP of Marketing

    Bridgeline Digital

    press@bridgeline.com

    The MIL Network –

  • MIL-OSI: New VelocityDRIVE™ Software Platform and Automotive-Qualified Multi-Gigabit Ethernet Switches for Software-Defined Vehicles

    Source: GlobeNewswire (MIL-OSI)

    CHANDLER, Ariz., Oct. 10, 2024 (GLOBE NEWSWIRE) — Driven by the need for higher bandwidth, advanced features, enhanced security and standardization, automotive OEMs are transitioning to Ethernet solutions. Automotive Ethernet provides the necessary infrastructure to support Software-Defined Networking by centralizing control, enabling flexible configurations and real-time data transfer. To provide OEMs with comprehensive Ethernet solutions, Microchip Technology (Nasdaq: MCHP) today announces its new family of LAN969x Multi-Gigabit Ethernet Switches and VelocityDRIVE™ Software Platform (SP), which is a turnkey Ethernet switch software solution and Configuration Tool (CT) based on standardized YANG models.

    The combination of LAN969x devices and VelocityDRIVE SP, the industry’s first integration of CORECONF YANG, offers an innovative industry-standard network configuration solution. The CORECONF YANG standard aims to empower designers by separating software development from the hardware network layer. This reduces complexity and costs and accelerates the time to market.

    The high-performance LAN969x Ethernet switches are powered by a 1 GHz single-core Arm® Cortex®-A53 CPU and feature multi-gigabit capabilities with scalable bandwidths from 46 Gbps to 102 Gbps. Advanced Time-Sensitive Networking (TSN) is designed to meet precise timing and reliability requirements of applications like Advanced Driver Assistance Systems (ADAS).

    “The introduction of the VelocityDRIVE Software Platform provides our automotive customers with a turnkey software switch solution and configuration tool to easily manage in-vehicle Ethernet networking,” said Charlie Forni, vice president of Microchip’s USB and networking group. “The use of the standards-based YANG configuration protocol enables software to be developed independently and reused across multi-vendor Ethernet switches.”

    The LAN969x switch family is designed to support ASIL B Functional Safety and AEC-Q100 Automotive Qualification standards, offering high reliability and safety for automotive applications. The devices are optimized for systems with a small embedded-memory footprint and feature secure and fast boot capabilities using integrated ECC SRAM for code execution, which eliminates the need for expensive external DDR memory.

    As in-vehicle networking continues to increase, software solutions like VelocityDRIVE SP are necessary for customers to configure and manage their networking systems. The LAN969x switch family joins Microchip’s portfolio of automotive Ethernet solutions, which includes 10 Mbps to 1000 Mbps PHY transceivers, controllers, switches and endpoints. For more information about Microchip’s automotive Ethernet solutions, visit the web page.

    Development Tools

    The LAN969x devices are supported by the LAN9692 VelocityDRIVE Evaluation Board and VelocityDRIVE Configuration Tool (CT).

    Pricing and Availability

    The LAN9691, LAN9692 and LAN9693 are available in production quantities. The VelocityDRIVE Software Platform is available to download. For additional information and to purchase, contact a Microchip sales representative, authorized worldwide distributor or visit Microchip’s Purchasing and Client Services website, http://www.microchipdirect.com.

    Resources

    High-res images available through Flickr or editorial contact (feel free to publish):
    • Application image: http://www.flickr.com/photos/microchiptechnology/54036155085/sizes/l

    About Microchip Technology:
    Microchip Technology Inc. is a leading provider of smart, connected and secure embedded control and processing solutions. Its easy-to-use development tools and comprehensive product portfolio enable customers to create optimal designs which reduce risk while lowering total system cost and time to market. The company’s solutions serve approximately 123,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality. For more information, visit the Microchip website at http://www.microchip.com.

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

    The MIL Network –

  • MIL-OSI: NXP Semiconductors Announces Conference Call to Review Third Quarter 2024 Financial Results 

    Source: GlobeNewswire (MIL-OSI)

    EINDHOVEN, The Netherlands, Oct. 10, 2024 (GLOBE NEWSWIRE) — NXP Semiconductors N.V. (NASDAQ: NXPI) today announced it will release financial results for the third quarter 2024 after the close of normal trading on the NASDAQ Global Select Market on Monday, November 4, 2024. The company will host a conference call with the financial community on Tuesday, November 5, 2024, at 8:00 a.m. U.S. Eastern Standard Time (EST).

    Earnings Conference Call Details 
    Interested parties may pre-register for the webcast or obtain a user-specific access code to join the live conference call.

    A replay of the call will be available via webcast for on-demand listening shortly after the completion of the call.

    About NXP Semiconductors 

    NXP Semiconductors N.V. (NASDAQ: NXPI) is the trusted partner for innovative solutions in the automotive, industrial & IoT, mobile, and communications infrastructure markets. NXP’s “Brighter Together” approach combines leading-edge technology with pioneering people to develop system solutions that make the connected world better, safer, and more secure. The company has operations in more than 30 countries and posted revenue of $13.28 billion in 2023. Find out more at http://www.nxp.com.

    For further information, please contact: 

    NXP-CORP 

    The MIL Network –

  • MIL-OSI: Monarch Private Capital Finances Historic Rehabilitation of New York and New Jersey Telephone Exchange Building

    Source: GlobeNewswire (MIL-OSI)

    ATLANTA, Oct. 10, 2024 (GLOBE NEWSWIRE) — Monarch Private Capital (Monarch), a nationally recognized impact investment firm that develops, finances, and manages a diversified portfolio of projects generating both federal and state tax credits, is pleased to announce the tax equity closing for the historic rehabilitation tax credit (HTC) equity for the $59 million redevelopment of the New York and New Jersey Telephone Exchange Building. Located at 601-619 Throop Avenue, at the corner of MacDonough Street, in the Stuyvesant Heights neighborhood of Brooklyn, this historic landmark will be transformed into 40 luxury apartments with 1,250 sf of commercial space on the ground and basement levels.

    The project, led by Rivington Company LLC, will restore the Italian Renaissance Revival building, originally designed by Alexander MacKenzie of Eidlitz & MacKenzie in 1905. The redevelopment will preserve the building’s historical significance while offering modern amenities.

    This initiative not only revitalizes a historic landmark but also contributes to the ongoing revival of the Stuyvesant Heights neighborhood. The building’s past includes its role as a telecom hub, facilitating communication for Brooklynites at the turn of the 20th century. Its transformation into luxury apartments marks a new chapter, offering much-needed housing options while preserving its architectural heritage.

    “We are proud to partner with Rivington Company in this impactful project,” said Rick Chukas, Partner, Managing Director of Historic Tax Credits for Monarch Private Capital. “This project, our first rehab in Brooklyn, is a great example of how history can be preserved while meeting modern living needs.”

    “Rivington Company is proud to announce a successful partnership with Monarch to preserve and convert the historic landmark building located in the heart of Stuyvesant Heights into much-needed housing. This collaborative effort not only honors the rich architectural heritage of the neighborhood but also addresses the pressing demand for multifamily housing in this vibrant neighborhood,” said Travis Stabler, Managing Partner at Rivington Company. “Together, we are not only breathing new life into a historic building but also creating homes that will support the diverse needs of our community.”

    For more information on Monarch Private Capital and its impact investment funds, please email Rick Chukas at rchukas@monarchprivate.com.

    About Monarch Private Capital
    Monarch Private Capital manages impact investment funds that positively impact communities by creating clean power, jobs, and homes. The funds provide predictable returns through the generation of federal and state tax credits. The company offers innovative tax credit equity investments for affordable housing, historic rehabilitations, renewable energy, film, and other qualified projects. Monarch Private Capital has long-term relationships with institutional and individual investors, developers, and lenders participating in these federal and state programs. Headquartered in Atlanta, Monarch has offices and professionals located throughout the United States.

    CONTACT

    Jane Rafeedie

    Monarch Private Capital

    jrafeedie@monarchprivate.com

    470-283-8431

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/45f2de0b-4357-4c11-87c6-b1268185f78a

    The MIL Network –

  • MIL-OSI: AppFolio, Inc. Announces Date of Third Quarter 2024 Financial Results Conference Call

    Source: GlobeNewswire (MIL-OSI)

    SANTA BARBARA, Calif., Oct. 10, 2024 (GLOBE NEWSWIRE) — AppFolio, Inc. (NASDAQ: APPF) today announced that it will report its third quarter 2024 financial results after the close of the U.S. financial markets on Thursday, October 24, 2024.

    In conjunction with this announcement, AppFolio will host a conference call on Thursday, October 24, 2024, at 5:00 p.m. (Eastern Time), to discuss the company’s financial results and business outlook. A live webcast of the call will be available at https://edge.media-server.com/mmc/p/56effhwx. To access the call by phone, please go to the following link: https://register.vevent.com/register/BI0592d6d11ce14a179afe199e2d07039c, and you will be provided with dial in details. A replay of the webcast will also be available for a limited time on AppFolio’s Investor Relations website at https://ir.appfolioinc.com/news-events/events.

    Disclosure Information
    AppFolio uses and intends to continue to use its Investor Relations website as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor AppFolio’s Investor Relations website in addition to following AppFolio’s SEC filings, public conference calls, press releases, and webcasts.

    About AppFolio
    AppFolio is a technology leader powering the future of the real estate industry. Our innovative platform and trusted partnership enable our customers to connect communities, increase operational efficiency, and grow their business. For more information about AppFolio, visit appfolio.com.

    Investor Contact:
    Lori Barker
    ir@appfolio.com

    The MIL Network –

  • MIL-OSI: Dayforce Community Unites to Make Work Life Better at Dayforce Discover 2024

    Source: GlobeNewswire (MIL-OSI)

    MINNEAPOLIS, Minn. and TORONTO, Oct. 10, 2024 (GLOBE NEWSWIRE) — Dayforce, Inc. (NYSE: DAY; TSX: DAY), a global human capital management (HCM) leader that makes work life better, will host customers, partners, and industry visionaries for the new Dayforce Discover annual customer conference, to be held on November 11-14 at the Wynn Las Vegas. Registration is open for the in-person experience as well as the live stream of the conference’s mainstage keynotes.

    Centered around the company’s brand promise to make work life better, Dayforce Discover will bring together thousands of attendees around the world to ignite the power of the entire Dayforce community. In-person customers will be able to access more than 110 opportunities and experiences to learn, connect, and discover transformational value through the Dayforce platform.

    “Dayforce Discover is the definitive event for HR leaders passionate about advancing workforce experiences and creating quantitative value within their organizations,” said Eric Glass, Chief Marketing and Communications Officer, Dayforce, Inc. “The immersive on-site experience will delight attendees, spark inspiration, and foster moments of true community building. HR leaders will leave Dayforce Discover revitalized with tangible learnings – from peers and professionals alike – designed to maximize value with Dayforce.”

    Discover inspiration and innovation with mainstage keynotes

    In the Welcome Keynote, which will include David Ossip, Chair and CEO of Dayforce, in-person attendees will be able to hear from acclaimed research professor and author, Dr. Brené Brown, who presents on courageous leadership and what’s possible when we dare to discover, lead, and unlock our full potential.

    Next up, Joe Korngiebel, Chief Strategy, Product, and Technology Officer of Dayforce, will showcase the latest advancements in AI, Experiences, and Compliance support during the not-to-be-missed Innovation Keynote.

    The final Customer Keynote will conclude with powerful stories from Dayforce customers, including Builders FirstSource, Burton, the Minnesota Timberwolves & Lynx, Sevita, and Uniting NSW.ACT, sharing how they make work life better for their people.

    Discover opportunities for hands-on learning, support, and connection

    From viewing demos of the latest product releases to attending workshops full of hands-on guidance, HR leaders can experience the community and learn new ways to optimize Dayforce platform. Opportunities include:

    • Dayforce FIT (Fast-paced Interactive Training) is back again featuring a group of dedicated subject matter Dayforce experts.
    • Hands-on Labs, a series of classroom-style interactive sessions to gain practical, in-depth experience.
    • Ability to receive SHRM, Payroll.org, and HRPA certification credits by attending select sessions.
    • Valuable breakout sessions featuring industry leaders and Dayforce customers, who will dig deep into today’s complex HR challenges based on their own experiences.
    • The Dayforce Disco, a closing party like no other, which unites the Dayforce community in celebration and can’t be missed.

    Discover how to create more value with the robust Dayforce Partner Ecosystem 

    Partners are invaluable to Dayforce. This year’s event has more than 60 partners from around the world, uniting to empower our customers, help them drive unparalleled success in their HCM transformations, and maximize the potential of the Dayforce platform.

    To learn more:

    • Register for the in-person or virtual experience of Dayforce Discover, taking place November 11 to 14, 2024 at the Wynn Las Vegas: http://www.dayforcediscover.com
    • Explore the full Dayforce Discover session catalog
    • Read about the sponsors of Dayforce Discover
    • Read a blog post by Eric Glass, Chief Marketing and Communications Officer, on what to expect at Dayforce Discover

    About Dayforce
    Dayforce makes work life better. Everything we do as a global leader in HCM technology is focused on improving work for thousands of customers and millions of employees around the world. Our single, global people platform for HR, payroll, talent, workforce management, and benefits equips Dayforce customers to unlock their full workforce potential and operate with confidence. To learn how Dayforce helps create quantifiable value for organizations of all sizes and industries, visit dayforce.com.  

    Media Contact
    Hyeri Kim
    Hyeri.Kim@dayforce.com
    347-572-9564

    The MIL Network –

  • MIL-OSI: LM Funding America Inc. Expects Operations to be Unaffected by Hurricane Milton; Headquarters Operating Remotely to Support Community Association Lending Businesses

    Source: GlobeNewswire (MIL-OSI)

    Tampa, FL, Oct. 10, 2024 (GLOBE NEWSWIRE) — LM Funding America Inc. (NASDAQ: LMFA) (“LM Funding” or the “Company”), a cryptocurrency mining and a technology-based specialty finance company, today announced that it expects its Bitcoin mining operations to remain unaffected by Hurricane Milton, thanks to the geographic distribution of its miners. The Company fully anticipates its Bitcoin mining operations will continue without any interruptions or damage.

    Bruce Rodgers, Chairman and CEO of LM Funding, commented, “We’re Tampa based but our miners are not, so we do not expect Hurricane Milton to impact our Bitcoin mining operations.”

    The Company’s Tampa corporate headquarters has transitioned to remote operations to ensure the safety of its employees while maintaining its commitment to serving LM Funding’s community association customers. “We will remain fully operational and continue to accept loan applications from community associations through this challenging time,” Rodgers added.

    LM Funding also expressed its solidarity with local communities likely to be affected by the hurricane, particularly those living in condominiums already feeling the strain of rising insurance costs and the need to fund reserves. The Company’s subsidiaries, LM Funding and Sunshine Lending, are prepared to offer tailored financial products to qualified condominium and homeowner associations that will need to recover following the aftermath of the storm.

    “Our thoughts and prayers are with everyone in the path of Hurricane Milton,” Rodgers said. “We are here to help, and our lending teams are ready to support our customers with the resources they need to rebuild. We are hoping for the best, are prepared for the worst, and focused on what’s next.”

    About LM Funding America, Inc.

    LM Funding America Inc. (Nasdaq: LMFA) is a cryptocurrency mining business that commenced Bitcoin mining operations in September 2022. The Company also operates a technology-based specialty finance company that provides funding to nonprofit community associations (Associations) primarily located in the state of Florida as well as in Washington, Colorado, and Illinois by funding a certain portion of the Associations’ rights to delinquent accounts arising from unpaid Association assessments.

    Forward-Looking Statements

    This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,” and “project,” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the Company’s most recent Annual Report on Form 10-K and its other filings with the SEC, which are available at http://www.sec.gov. These risks and uncertainties include, without limitation, the uncertainty created by entering into and operating in the cryptocurrency mining business, volatility in the cryptocurrency markets, the potential need for additional capital, changes in governmental regulations, and other risks. The occurrence of any of these risks and uncertainties could have a material adverse effect on our business, financial condition, and results of operations.

    Contact:

    Crescendo Communications LLC
    Tel: (212) 671-1021
    Email: LMFA@crescendo-ir.com

    The MIL Network –

  • MIL-OSI: iBio and AstralBio Provide Update on Myostatin Program for Obesity

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, Oct. 10, 2024 (GLOBE NEWSWIRE) — iBio, Inc. (NYSEA:IBIO), an AI-driven innovator of precision antibody immunotherapies, today provided an update on the myostatin program for cardiometabolic disease and obesity in collaboration with AstralBio. iBio’s technology stack enabled the Company to rapidly advance the joint myostatin program from inception to in vitro proof-of-concept in human muscle cells. Following early discovery, the companies have identified a molecule with therapeutic potential for treating muscle wasting and obesity, which is designed for subcutaneous administration and has potential for an extended half-life. The companies are currently working on plans to advance this molecule into non-cGMP in vivo studies in rodents and non-human primates (NHP) with potential early readouts of the NHP in early 2025.

    “Myostatin inhibitors hold great promise for treating obesity and cardiometabolic diseases by increasing muscle mass and boosting metabolism,” said Martin Brenner, Ph.D., DVM, iBio’s CEO and Chief Scientific Officer. “However, a best-in-class approach is essential to ensure the next generation of myostatin therapies can effectively address the needs of a large population of obese patients. This means focusing on two critical aspects: high potency and an extended half-life. While our work is still in the early stages, we are optimistic our novel molecule could overcome some of these challenges by offering an alternative to intravenous administration and a treatment paradigm with less frequent dosing.”

    As part of the collaboration, iBio has the exclusive option to license three cardiometabolic targets from AstralBio and will receive the rights to develop, manufacture and commercialize those targets upon exercise. In the event iBio triggers the option to in-license the myostatin program, its goal is to file an Investigational New Drug (IND) application by the end of 2025.

    “iBio’s AI-powered platform is an innovative tool for discovering and engineering potential new therapies, and we’re eager to use it in our shared mission to treat cardiometabolic diseases. By focusing on the TGFβ superfamily, including myostatin, we believe we can efficiently advance therapies that address conditions like obesity and muscle wasting,” said Patrick Crutcher, CEO of AstralBio. “By leveraging iBio’s expertise and team, we have built differentiated antibodies incorporating Fc-engineering to enable half-life extended therapeutics that could be potentially best-in-class. We are thrilled with the progress made on this program and look forward to advancing it further.”

    About iBio, Inc.

    iBio is an AI-driven innovator that develops next-generation biopharmaceuticals using computational biology and 3D-modeling of subdominant and conformational epitopes, prospectively enabling the discovery of new antibody treatments for hard-to-target cancers, and other diseases. iBio’s mission is to decrease drug failures, shorten drug development timelines, and open up new frontiers against the most promising targets. For more information, visit http://www.ibioinc.com.

    FORWARD-LOOKING STATEMENTS

    Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statement regarding the identification of a lead molecule with potential extended half-life and subcutaneous dosing; the identification of a molecule with therapeutic potential for treating muscle wasting and obesity; plans to advance the molecule into non-cGMP in vivo studies in rodents and non-human primates (NHP) with potential early readouts of the NHP in early 2025; myostatin inhibitors holding great promise for treating obesity and cardiometabolic diseases by increasing muscle mass and boosting metabolism; the novel molecule overcoming some challenges by offering an alternative to intravenous administration and a treatment paradigm with less frequent dosing; filing an Investigational New Drug (IND) application by the end of 2025 in the event iBio triggers the option to in-license the myostatin program; iBio’s AI-powered platform discovering and engineering potential new therapies; iBio efficiently advancing therapies that address conditions like obesity and muscle wasting; and the differentiated antibodies built that incorporate Fc-engineering being potentially best-in-class. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to develop a best-in-class lead molecule with an extended half-life and subcutaneous dosing that treats muscle wasting and obesity; the ability to advance the molecule into non-cGMP in vivo studies in rodents and non-human primates (NHP) with early readouts of the NHP in early 2025; the ability to file an IND by the end of 2025 in the event that iBio triggers the in-licensing option; and the ability of the molecule to overcome some challenges by offering an alternative to intravenous administration and a treatment paradigm with less frequent dosing; and the other factors discussed in the Company’s filings with the SEC including the Company’s Annual Report on Form 10-K for the year ended June 30, 2024. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

    Contact:

    iBio, Inc.
    Investor Relations
    ir@ibioinc.com

    Susan Thomas
    iBio, Inc.
    Media Relations
    susan.thomas@ibioinc.com

    The MIL Network –

  • MIL-OSI: HCM II Acquisition Corp. Announces the Separate Trading of its Class A Ordinary Shares and Warrants, Commencing October 10, 2024

    Source: GlobeNewswire (MIL-OSI)

    Stamford, CT, Oct. 10, 2024 (GLOBE NEWSWIRE) — HCM II Acquisition Corp. (NASDAQ: HONDU) (the “Company”) announced today that, commencing October 10, 2024, holders of the units sold in the Company’s initial public offering may elect to separately trade the Company’s Class A ordinary shares and warrants included in the units. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. The Class A ordinary shares and warrants that are separated will trade on the Nasdaq under the symbols “HOND” and “HONDW,” respectively. Those units not separated will continue to trade on the Nasdaq under the symbol “HONDU.”

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

    About HCM II Acquisition Corp.

    HCM II Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company may pursue an initial business combination target in any business or industry or at any stage of its corporate evolution. Its primary focus, however, will be in completing a business combination with an established business of scale poised for continued growth, led by a highly regarded management team.

    The Company’s management team is led by Shawn Matthews, its Chairman of the Board and Chief Executive Officer, and Steven Bischoff, its President and Chief Financial Officer. The Company’s Board of Directors includes Andrew Brenner, Michael J. Connor and Jacob Loveless.

    Forward-Looking Statements

    This press release may include, and oral statements made from time to time by representatives of the Company may include, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filings with the Securities and Exchange Commission (“SEC”). All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and prospectus for the Company’s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    Media Contact:

    Steven Bischoff
    sbischoff@hondiuscapital.com

    The MIL Network –

  • MIL-OSI: Beamr to be a Bronze Sponsor at the Demuxed 2024 Conference

    Source: GlobeNewswire (MIL-OSI)

    Herzliya, Israel, Oct. 10, 2024 (GLOBE NEWSWIRE) — Beamr Imaging Ltd. (NASDAQ: BMR), a leader in video optimization and modernization technology and solutions, today announced that it will participate in and be a bronze sponsor at the Demuxed 2024 conference held in San Francisco from October 16-17, 2024, one of the industry’s main conferences for video leaders and professionals.

    At the conference, the Beamr team will engage with key industry leaders and businesses to promote its comprehensive suite of high-performance, GPU-accelerated video pipelines. These services supercharge companies in the broadcasting and streaming industries by reducing video files and live streams up to 4K resolution at 60 frames per second (p60). Beamr also offers automated and accelerated cloud services for Amazon Web Services (AWS) and Oracle Cloud Infrastructure (OCI) customers alongside on-prem or private cloud services tailored for enterprises, ensuring compliance with regulatory needs, privacy and security.

    To meet with the Beamr video experts team at the Demuxed 2024 conference and learn how GPU-accelerated video processing impacts video businesses and engineers, please use this link.

    Optimized 4Kp60 live streams are ideal for sports broadcasting, realistic visualization in virtual environments and high-quality video productions, all of which typically require extensive and costly resources. With its patented content-adaptive technology that is accelerated by GPUs, Beamr enables high-performance video processing, while reducing the required resources by up to 50%, delivering noticeably higher-quality contribution feeds with available cloud bandwidth.

    Additionally, Beamr services enable seamless upgrades to advanced video formats, such as AV1 (AOMedia Video 1), and are AI-ready, allowing automatic caption and transcription generation for videos, with plans for more features to be released later this year.

    Participation in Demuxed will follow key meetings with video industry professionals and media businesses executives at Oracle CloudWorld 2024, held in Las Vegas, and IBC 2024, held in Amsterdam, both of which Beamr attended last month.

    About Beamr

    Beamr (Nasdaq: BMR) is a world leader in content-adaptive video optimization and modernization. The company serves top media companies like Netflix and Paramount. Beamr’s inventive perceptual optimization technology (CABR) is backed by 53 patents and won the Emmy® award for Technology and Engineering. The innovative technology reduces video file size by up to 50% while guaranteeing quality.

    Beamr Cloud is a high-performance, GPU-based video optimization and modernization service designed for businesses and video professionals across diverse industries. It is conveniently available to Amazon Web Services (AWS) and Oracle Cloud Infrastructure (OCI) customers. Beamr Cloud enables video modernization to advanced formats such as AV1 and HEVC, and is ready for video AI workflows. For more details, please visit http://www.beamr.com

    Forward-Looking Statements

    This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. Forward-looking statements in this communication may include, among other things, statements about Beamr’s strategic and business plans, technology, relationships, objectives and expectations for its business, the impact of trends on and interest in its business, intellectual property or product and its future results, operations and financial performance and condition. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report filed with the SEC on March 4, 2024 and in subsequent filings with the SEC. Forward-looking statements contained in this announcement are made as of the date hereof and the Company undertakes no duty to update such information except as required under applicable law.

    Investor Contact:

    investorrelations@beamr.com

    The MIL Network –

  • MIL-OSI: Bitget’s Protection Fund in September Sustained Above Initial $300M Commitment Amidst Market Volatility

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Oct. 10, 2024 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has released the latest valuation of its Protection Fund for September 2024. The fund, an essential safeguard for the exchange and its users, has remained resilient over the past year, maintaining a valuation comfortably above the initial $300 million commitment. As of the end of September, the fund is valued at approximately $428.5 million, marking one of the highest valuations in recent months.

    Despite fluctuations within the broader financial market, the crypto sector continued to experience growing confidence, particularly with Bitcoin’s solid performance throughout the month. The Bitget Protection Fund, which is denominated in Bitcoin and stablecoins, benefited from Bitcoin’s upward trend, further strengthening its valuation. On September 7, the fund recorded its lowest valuation for the month at $350.5 million when Bitcoin prices dipped to $53,923. However, the fund quickly regained value as Bitcoin prices rebounded, closing the month with a substantial valuation of $428.6 million.

    The Bitget Protection Fund is designed to ensure a robust layer of protection for users in the event of unforeseen market disturbances or security threats. This consistent increase in the fund’s valuation shows Bitget’s commitment to maintaining a stable and secure environment for its global users, aligned with its transparent Proof-of-reserves and industry’s second largest protection fund.
    “The sustained growth in the Protection Fund’s valuation, despite market fluctuations shows Bitget’s focus on maintaining user security and trust. As we continue to see positive momentum in the crypto space, Bitget remains dedicated to offering a stable and reliable platform for our global community, ensuring our users’ interests are well-protected,” said Gracy Chen, CEO at Bitget.

    With Bitcoin showing promising signs of continued growth, the Protection Fund remains well-positioned to handle market fluctuations. As the cryptocurrency industry moves forward, Bitget remains dedicated to providing a secure trading platform with a focus on long-term user security and risk management.

    To check Protection fund and its previous snapshots, please visit here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading, AI bot and other trading solutions. Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including being the Official Crypto Partner of the World’s Top Professional Football League, LALIGA, in EASTERN, SEA and LATAM, as well as a global partner of Olympic Athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/78ebdd73-dbab-4fd3-9b64-6573f00d9613

    https://www.globenewswire.com/NewsRoom/AttachmentNg/19fe0105-2644-4dc4-adea-01f501c7a615

    The MIL Network –

  • MIL-OSI: Alliance Witan PLC – Appointment of Directors (AMENDED)

    Source: GlobeNewswire (MIL-OSI)

    Alliance Witan PLC (‘the Company’)
    Legal Entity Identifier: 213800SZZD4E2IOZ9W55

    AMENDMENT TO BIOGRAPHY OF SHAUNA BEVAN CONTAINED IN ORIGINAL ANNOUNCEMENT MADE 10 OCTOBER 2024 AT 12:00. ALL OTHER INFORMATION REMAINS UNCHANGED.

    Appointment of Directors

    Following the completion of the combination of Alliance Trust PLC and Witan Investment Trust PLC (‘Witan’), the Board of Alliance Witan PLC is pleased to announce that Andrew Ross, Rachel Beagles, Shauna Bevan and Jack Perry (all former directors of Witan) have been appointed as non-executive Directors of the Company effective today.

    Andrew Ross has been appointed as Deputy Chair of the Company and a member of the Management Engagement, and Nomination Committees of the Company.

    Rachel Beagles, Shauna Bevan and Jack Perry have all been appointed as members of the Audit and Risk, Management Engagement, and Nomination Committees of the Company.

    Andrew Ross was previously chief executive of Cazenove Capital Management which, in 2013, was acquired by Schroders, where he became global head of Wealth Management until 2019. Prior to this, Andrew was chief executive of HSBC Asset Management (Europe) Limited and managing director of James Capel Investment Management. Andrew has substantial experience in senior leadership roles as CEO and chairman of investment management and wealth management businesses. He has overseen three different multimanager businesses and under his tenure the businesses he led significantly grew and prospered. Andrew is a non-executive director of Polar Capital Holdings plc and of Cadogan Settled Estates.

    Rachel Beagles was previously a managing director and co-head of pan-European banks equity research and sales at Deutsche Bank. Since 2003 she has worked as a non-executive director in the investment company, asset management, charity and social housing sectors. She was chair of the Association of Investment Companies from 2018 to 2021. Rachel has extensive knowledge and understanding of the equity markets from her experience in research and sales and is an experienced non-executive director of investment trusts. She is currently a non-executive director of Mercantile Investment Trust plc.

    Shauna Bevan is Head of Investment Advisory at RiverPeak Wealth Limited where she is responsible for fund selection and portfolio construction. She was previously co-head of Collectives Research at Charles Stanley, having started her career in wealth management at Merrill Lynch. Shauna has over 25 years of investment experience across different asset classes and regions with particular expertise in manager research and meeting the needs of retail investors. Shauna is currently a non-executive director of CT Global Managed Portfolio Trust PLC.

    Jack Perry was previously chief executive of Scottish Enterprise and a former managing partner and Regional Industry Leader of Ernst & Young LLP. Jack has served on the boards of FTSE 250 and other public and private companies. He is currently chair of ICG-Longbow Senior Secured UK Property Debt Investments Limited and was previously chair of European Assets Trust PLC. He is a member of the Institute of Chartered Accountants of Scotland and has served as a member or chair on numerous audit and risk committees.

    There is no additional information to be disclosed pursuant to Listing Rule 6.4.8 and the Board considers all of the above noted directors to be independent on appointment in accordance with the AIC Code of Corporate Governance.
    A further announcement on directors’ shareholdings in the Company, as a result of the combination will be made shortly.

    For further information please contact:

    Juniper Partners Limited
    Company Secretary
    Telephone: 0131 378 0500

    10 October 2024

    The MIL Network –

  • MIL-OSI Europe: Federal Councillor Beat Jans at ministerial meeting in Luxembourg

    Source: Switzerland – Federal Administration in English

    Bern, 10.10.2024 – On 10 October, Federal Councillor Beat Jans attended a meeting of justice and home affairs ministers of the (EU and) Schengen states in Luxembourg. The talks focused on better protection of the external border, internal border controls and the need for reform in relation to the EU’s return policy.

    These are priority issues for the Schengen states this year. The Hungarian Council presidency focused the ministerial meeting agenda on the protection of the external border, in particular the digitalisation of processes and systems, and the implementation of interoperability.

    Federal Councillor Beat Jans stressed that external border protection was only one element of a functioning Schengen area and that challenges such as secondary immigration, Dublin transfers and internal border controls must also be addressed. External borders should also be strengthened through better cooperation with third countries. In this regard, the head of the FDJP referred to Switzerland’s positive experience with migration partnerships, which served the interests of all parties involved and ensured that fundamental rights were guaranteed.

    Mr Jans welcomed the discussion on return policy initiated by the Council presidency. He emphasised that there was a need to reform legislation in the area of return policy and argued in favour of Schengen states having greater room for manoeuvre in returning dangerous individuals. He was open to the suggestion that voluntary return to Afghanistan and Syria and the associated expansion of operational support from Frontex should be discussed in European bodies.

    Bilateral meetings

    In Luxembourg, Mr Jans held his first talks with the new French Interior Minister, Bruno Retailleau. He spoke with the new Greek Migration and Asylum Minister, Nikos Panagiotopoulos, about cooperation on migration as part of Switzerland’s second contribution to selected EU states. Switzerland is providing support in Greece for projects to strengthen migration management and to accommodate vulnerable refugees. Mr Jans was briefed by Norwegian Justice Minister Emilie Enger Mehl on the latest asylum policy decisions in Norway. He discussed internal border controls with Czech Interior Minister Vít Rakušan and Austrian Interior Minister Gerhard Karner.

    Address for enquiries

    FDJP Communication Service, info@gs-efd.admin.ch, T +41 58 462 18 18

    Publisher

    Federal Department of Justice and Police
    http://www.ejpd.admin.ch

    MIL OSI Europe News –

  • MIL-OSI USA: SBA to Help Pennsylvania Businesses Affected by Drought

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) announced today that federal Economic Injury Disaster Loans (EIDLs) are available in Pennsylvania for small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private nonprofit organizations with economic losses from drought that began on Sept. 24.

    The declaration includes the primary county of Greene, and the adjacent counties of Fayette and Washington in Pennsylvania, and Marshall, Monongalia and Wetzel in West Virginia.  

    “Working capital loans from the SBA are essential to eligible small businesses when the Secretary of Agriculture declares a disaster due to farmers’ crop losses,” said Francisco Sánchez, Jr., associate administrator for the SBA’s Office of Disaster Recovery and Resilience. “These loans help sustain rural economies when a disaster occurs.”

    Under this declaration, the SBA’s Economic Injury Disaster Loan (EIDL) program is available to eligible farm-related and nonfarm-related entities that suffered financial losses as a direct result of this disaster.  Apart from aquaculture enterprises, SBA cannot provide disaster loans to agricultural producers, farmers, and ranchers. Nurseries are eligible to apply for economic injury disaster loans for losses caused by drought conditions. 

    The loan amount can be up to $2 million with interest rates of 4% for small businesses and  
    3.25% for private nonprofit organizations, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition. Eligibility is based on the size of the applicant, type of activity and its financial resources. These working capital loans may be used to pay fixed debts, payroll, accounts payable, and other bills that could have been paid had the disaster not occurred. The loans are not intended to replace lost sales or profits. 

    For information and to apply online visit SBA.gov/disaster. Applicants may also call the SBA’s Customer Service Center at (800) 6592955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. 

    Submit completed loan applications to SBA no later than June 2, 2025. 

    ###

    About the U.S. Small Business Administration

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit http://www.sba.gov. 

    MIL OSI USA News –

  • MIL-OSI USA: SBA Business Recovery Centers in Illinois Close for Indigenous People’s Day

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) announced today it will temporarily close its Business Recovery Centers in Cook and St. Clair Counties, on Monday, October 14 in observance of the Indigenous People’s Day Holiday.  The Centers will resume normal operations on Tuesday, Oct. 15.    

    Customer Service Representatives at SBA’s Business Recovery Center can assist applicants complete their disaster loan application, accept documents for existing applications, and provide updates on an application’s status. Walk-ins are accepted, but you can schedule an in-person appointment at an SBA Disaster Recovery Center in advance. The centers will operate as indicated below until further notice.

    Business Recovery Center (BRC) 
    Cook County   

    SBA District Office

    332 S. Michigan Ave. Suite 600

    Chicago, IL 60604

    Hours:            Monday – Friday, 9 a.m. to 5 p.m.

    Closed:          Saturday and Sunday

    Closed Monday, Oct. 14 for Holiday

    Business Recovery Center (BRC) 
    St. Clair County   

    Southwestern IL Justice & Workforce Development Campus, Library Room

    2300 W Main Street

    Belleville, IL 62226

    Hours:            Monday – Sunday, 8 a.m. to 7 p.m.

    Closed Monday, Oct. 14 for Holiday

    With the changes to FEMA’s Sequence of Delivery, survivors are now encouraged to simultaneously apply for FEMA grants and the SBA low-interest disaster loan assistance to fully recover.  FEMA grants are intended to cover necessary expenses and serious needs not paid by insurance or other sources. The SBA disaster loan program is designed for your long-term recovery, to make you whole and get you back to your pre-disaster condition. Do not wait on the decision for a FEMA grant; apply online and receive additional disaster assistance information at sba.gov/disaster.  

    Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.

    The filing deadline to return applications for physical property damage is Nov. 19, 2024. The deadline to return economic injury applications is June 20, 2025.

    ###

    About the U.S. Small Business Administration  

    The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit http://www.sba.gov. 

    MIL OSI USA News –

  • MIL-OSI USA: US Department of Labor approves up to $10M in initial funding to support disaster recovery jobs, training for North Carolina after Hurricane Helene

    Source: US Department of Labor

    WASHINGTON – The U.S. Department of Labor today announced the approval of up to $10 million in initial emergency grant funding to North Carolina to support disaster-relief jobs and training services in 25 counties to help respond to Hurricane Helene.

    On Sept. 26, 2024, Hurricane Helene made landfall in Florida as a Category 4 storm and quickly moved inland, pushing through Georgia and the Carolinas as a tropical storm. The storm brought the worst flooding in a century to North Carolina, resulting in more than 100 deaths and wiping out entire towns with catastrophic mudslides and floodwaters. More than one million customers lost power and over 100,000 customers remained without power more than a week after the storm. 

    “The Employment and Training Administration is committed to ensuring workers in North Carolina affected by Hurricane Helene have access to grant funding and assistance,” said Assistant Secretary for Employment and Training José Javier Rodríguez. “This Dislocated Worker Grant provides critical support by providing jobs to affected workers while helping North Carolina in its recovery efforts.”

    The Federal Emergency Management Agency issued an emergency declaration on Sept. 26, 2024, and a major disaster declaration on Sept. 28, 2024, enabling the state to request federal assistance for recovery efforts in the following 25 counties: Alexander, Alleghany, Ashe, Avery, Buncombe, Burke, Caldwell, Catawba, Clay, Cleveland, Gaston, Haywood, Henderson, Jackson, Lincoln, Macon, Madison, McDowell, Mitchell, Polk, Rutherford, Transylvania, Watauga, Wilkes and Yancey.

    The National Dislocated Worker Grant – supported by the Workforce Innovation and Opportunity Act of 2014 – allows the North Carolina Department of Commerce, Division of Workforce Solutions to provide people with temporary disaster-relief jobs for cleanup and the delivery of humanitarian assistance to address immediate, basic needs for those displaced by Hurricane Helene. The funding also enables the state to provide training and services to individuals in the affected communities. 

    The department’s Employment and Training Administration oversees National Dislocated Worker Grants, which expand the service capacity of dislocated worker programs at the state and local levels by providing funding assistance in response to large, unexpected economic events that lead to significant job losses.

    MIL OSI USA News –

  • MIL-OSI USA: Magellan Diagnostics Sentenced for Concealing Malfunction in Lead Testing Devices

    Source: US Food and Drug Administration

    Department of Justice
    U.S. Attorney’s Office
    District of Massachusetts 

    FOR IMMEDIATE RELEASE
    Thursday, October 10, 2024

    Company failed to notify FDA about serious malfunction in lead testing devices that resulted in inaccurately low blood level results in children and adults

    BOSTON –Magellan Diagnostics, Inc., a medical device company headquartered in Billerica, Mass., was sentenced yesterday in federal court in Boston for criminal charges related to the concealment of a device malfunction that produced inaccurately low lead test results for tens of thousands of children and other patients.

    Magellan has been ordered to pay a $21.8 million fine, $10.9 million in forfeiture and a minimum of $9.3 million to compensate patient victims. Magellan pleaded guilty to two counts of introducing a misbranded medical device into interstate commerce. Magellan was charged criminally on May 21, 2024

    “Keeping the people of Massachusetts safe takes a variety of forms. In the case of Magellan Diagnostics, it means protecting children who may have been exposed to dangerous levels of lead that can lead to serious health consequences. This company has admitted that it left lead blood level monitoring devices in pediatricians’ offices that it knew were providing inaccurately low readings, putting thousands of kids at risk of not having their elevated lead levels accurately diagnosed. In addition to holding the company accountable, this criminal sentence requires the company to undertake an extensive effort to identify and compensate victims.”

    “Medical device makers have an obligation to provide truthful information to protect patients. By deliberately concealing and consistently misleading consumers and the FDA about device malfunctions, Magellan acted with gross disregard for its responsibility to comply with FDA requirements and put patients at risk,” said Fernando McMillian, Special Agent in Charge, FDA Office of Criminal Investigations, New York Field Office. “We will continue to thoroughly investigate those whose actions undermine the integrity of the FDA regulatory process which exists to protect consumer health.”

    “It’s absolutely appalling that Magellan Diagnostics was more concerned about its bottom line than it was about coming clean to their customers and the FDA about a serious malfunction in its lead testing devices that we believe unnecessarily endangered the health of incredibly vulnerable victims,” said Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division. “When you’re not feeling well, and you’re trying to find out why, the last thing you should have to worry about is whether the diagnostic test you’re relying on lives up to its manufacturer’s claims. The FBI is grateful to see that the victims affected by Magellan’s actions in this case are one step closer to being compensated.”

    “Magellan concealed a serious flaw in its lead testing devices while ignoring the well-being of patients and knowingly providing inaccurate results of lead levels in the blood,” said Roberto Coviello, Special Agent in Charge of the U.S. Department of Health and Human Services, Office of Inspector General. “This type of egregious conduct, which only sought to benefit the corporate bottom line, can erode the public’s trust in our nation’s health care system. Today’s sentencing should send a clear message that any company engaging in such dangerous activity will be held accountable.”

    Magellan’s LeadCare Ultra and LeadCare II devices detected lead levels and lead poisoning in the blood of children and adults using either venous (blood draws through the arm) or fingerstick samples. LeadCare II, which was predominantly used to test fingerstick samples, accounted for more than half of all blood lead tests conducted in the United States from 2013 through 2017. LeadCare Ultra was predominantly used to test venous samples.

    According to court documents, Magellan failed to timely notify the FDA about a serious malfunction that caused the company’s LeadCare devices to produce inaccurate blood lead level results when used to test venous blood samples. Magellan also changed the user instructions for the LeadCare devices without prior FDA notice or approval.

    Magellan first learned that a malfunction in its LeadCare Ultra device could cause inaccurate lead test results – specifically, lead test results that were falsely low – during the FDA clearance process in June 2013. Magellan, however, released LeadCare Ultra to the market in late 2013 without informing customers or the FDA of the malfunction. In August 2014, LeadCare Ultra customers independently discovered the malfunction and complained about inaccurate results. FDA regulations required the company to file a medical device report about the malfunction within 30 days, but Magellan did not do so.

    In November 2014, Magellan sent a letter to its LeadCare Ultra customers advising them of the malfunction and recommending that they wait 24 hours before running their tests. This contradicted the instructions for use approved by the FDA. Magellan did not, however, report the malfunction to the FDA or advise the FDA of its change to the instructions until April 2015, nearly 21 months after Magellan discovered the malfunction and almost 8 months after customers discovered the malfunction on their own. In August 2015, Magellan changed the label instructions for the LeadCare Ultra device to require users to wait 24 hours before using the device to test blood samples, rather than testing the samples immediately. FDA regulations required the company to provide advance notice of the label change and file necessary reports of device correction, but Magellan did neither.  

    Magellan’s testing in 2013 also indicated that the same malfunction affected the LeadCare II device when it was used to test venous samples. Magellan, however, did not notify the FDA about the LeadCare II malfunction until November 2016.

    The FDA ultimately found that the LeadCare devices could not accurately test venous samples, leading to a recall of all LeadCare devices using venous samples and a warning to the public not to use LeadCare Ultra, LeadCare II or LeadCare Plus for testing venous blood samples because of the malfunction and a recommendation that doctors retest certain patients.

    According to the Centers for Disease Control and Prevention, there is no safe level of lead in the blood. Lead exposure may cause irreversible lifelong physical and mental health problems. Young children and pregnant women are most vulnerable to lead exposure, especially those from low-income households and those who live in housing built before 1978 because those homes are more likely to contain lead-based paint and have fixtures containing lead.

    As part of the criminal resolution, Magellan has agreed to compensate patients who were demonstrably harmed for the economic damages they suffered as a result of the malfunction in Magellan’s blood lead testing devices. If you or a family member believe you received an inaccurate blood lead test result from a LeadCare device between 2013–2017, please complete the questionnaire located on the FBI’s website at www.fbi.gov/MagellanCaseInquiry. Information about the status of the case is located on the U.S. Attorney’s Office website: https://www.justice.gov/usao-ma/victim-and-witness-assistance-program/magellan-diagnostics-inc.

    Acting U.S. Attorney Levy; FDA SAC McMillan; FBI SAC Cohen; and HHS-OIG SAC Coviello made the announcement today. Assistant U.S. Attorneys James Herbert, Kelly Lawrence and Leslie Wright of the Health Care Fraud Unit prosecuted the case.

    MIL OSI USA News –