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  • MIL-OSI USA: Making Colorado Safer: Governor Polis Signs Bills to Strengthen Public Safety, Save Coloradans and Businesses Money on Energy, Increase Access to Healthcare, Support Advanced Industries

    Source: US State of Colorado

    COLORADO SPRINGS/PUEBLO – Today, Governor Polis signed bills into law in Colorado Spring and Pueblo to make Colorado safer by strengthening public safety, save Coloradans and businesses money on energy, expand access to the healthcare needed to thrive, support Colorado’s advanced industries, and more. 

    At the Pueblo Chamber of Commerce, Governor Polis signed HB25-1171 – Possession of Weapon by Previous Offender Crimes, sponsored by Representatives Shannon Bird and Andrew Boesenecker, and Senators Nick Hinrichsen and Dafna Michaelson Jenet. 

    “Today, we are taking important steps to make Colorado one of the top ten safest states in the nation. From now on anyone convicted of first degree motor vehicle theft ineligible to possess a firearm, keeping guns out of the wrong hands and protecting our communities. I am proud of our work to improve public safety in Colorado, and with this bill signed into law, I look forward to continuing our bold progress to protect Coloradans and our communities,” said Governor Polis. 

    Governor Polis also signed the bipartisan HB25-1177 – Utility Economic Development Rate Tariff Adjustments, sponsored by Representatives Tisha Mauro and Ty Winter and Senators Nick Hinrichsen and Byron Pelton. 

    “In Colorado, utility rates remain below the national average, and this new bipartisan law will help reduce costs, saving Coloradans and businesses money on energy. This law will provide utilities and businesses the certainty needed to secure new investment, help lower electricity costs, and allow communities and businesses to plan for the future, all while advancing our climate goals, continuing embracing new money-saving clean energy, and protecting our clean air,” said Governor Polis. 

    Governor Polis also signed SB25-008 – Adjust Necessary Document Program sponsored by Senators Nick Hinrichsen and Cathy Kipp and Representative Meg Froelich. 

    Then, Governor Polis visited SkyView Middle School, one of Colorado’s 2024 National Blue Ribbon Award Winning schools. With today’s visit, Governor Polis has visited all four Colorado Blue Ribbon schools. Governor Polis previously visited Mesa View Elementary School in Grand Junction, DSST: Cedar Ridge High School in Denver, and Zach Elementary School in Fort Collins. 

    “Providing every Colorado student with a high-quality education at every level of K-12 education is important for students’ futures, our workforce, and economy. I was honored to visit SkyView Middle School to celebrate its well-deserved national recognition as a blue ribbon school, and learn about how successful strategies at SkyView can help other schools across Colorado,” said Governor Polis. 

    Later this afternoon, Governor Polis will sign the bipartisan HB25-1184 – Community-Based Continuing Care for Seniors, sponsored by Representatives Amy Paschal and Anthony Hartsook and Senators Dylan Roberts and John Carson. 

    “In a Colorado For All, every Coloradan, no matter your age or ability, should have access to the care you need when you need it. Thanks to this law, Coloradans awaiting admission to supportive living facilities will not need to wait before receiving necessary care. By expanding access to the care seniors need, we are ensuring that Colorado is the best state for anyone to live out their golden years,” said Governor Polis. 

    Governor Polis will also sign the bipartisan HB25-1157 – Reauthorize Advanced Industries Tax Credit, sponsored by Representatives Brianna Titone and William Lindstedt, and Senators Marc Snyder and Mark Baisley. 

    “Colorado is a state of innovators, leading the way in the cutting-edge emerging technologies of the future. Advanced industries support hundreds of thousands of good-paying jobs, find solutions in every sector from transportation to health care and agriculture, and are leading the way. These tax credits will ensure that our advanced industries continue to drive our innovation and economy,” said Governor Polis. 

    Governor Polis will also sign the following bipartisan bills: 

    • HB25-1270 – Patients’ Right to Try Individualized Treatments, sponsored by Representatives Rose Pugliese and Lindsay Gilchrist and Senators Barbara Kirkmeyer and Lindsey Daugherty
    • SB25-116 – Spousal Maintenance Guidelines sponsored by Senators Marc Snyder and Lisa Frizell and Representatives Monica Duran and Ryan Armagost

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    MIL OSI USA News –

  • MIL-OSI USA: PRESS RELEASE: Rep. Barragán Joins Discharge Petition to Prevent Republican Cuts to Medicaid and Food Assistance

    Source: United States House of Representatives – Representative Nanette Diaz Barragán (CA-44)

    FOR IMMEDIATE RELEASE
    May 8, 2025

    Contact: Jin.Choi@mail.house.gov

    WASHINGTON, DC – On Tuesday, Congresswoman Nanette Barragán (CA-44) signed a discharge petition to force consideration of a special rule to prevent the largest cuts to Medicaid and food assistance in American history — just so Donald Trump and Republicans can pay for massive tax giveaways to their billionaire donors. The petition is led by Congressman Brendan F. Boyle (PA-02), Ranking Member of the House Budget Committee. The petition is now open for signature by any Member of the House who is committed to protecting access to Medicaid and SNAP for millions of Americans.

    Under House rules, once a discharge petition receives 218 signatures, it triggers a vote on the House Floor. Ranking Member Boyle’s petition would trigger a special rule that includes the text of his Hands Off Medicaid and SNAP Act—amending the Congressional Budget Act to protect Medicaid and SNAP from any reduction in coverage or benefits in the reconciliation process.  

    “This is the chance for House Republicans to do the right thing and prove that they do indeed work for the American people,” said Rep. Barragán. “Donald Trump and House Republicans’ budget would cut healthcare and food assistance for the hardworking families who struggle more than ever to put food on the table and secure the care that they deserve. House Democrats will fight and take every possible path of action to prevent this budget from passing, because we believe that working- and middle-class families having access to essential benefits is far more important than funding tax breaks for Republicans’ billionaire donors.” 

    “Instead of working to lower the high cost of living, Donald Trump and Rubber Stamp House Republicans are advancing their deeply unpopular budget scheme to give tax breaks to their billionaire donors like Elon Musk while sticking everyday Americans with the bill,” said Democratic Leader Hakeem Jeffries. “They are planning to enact the largest cut to Medicaid and food assistance in American history, but House Democrats will continue pushing back with the fierce urgency of now. If House Republicans are telling the truth that they do not support taking food out of the mouths of children and slashing healthcare, our bill does just that.”

    “The Republican budget includes the largest cuts to Medicaid and SNAP in our nation’s history—cuts that would jeopardize health care and food assistance for millions of Americans,” said Budget Committee Ranking Member Boyle. “This discharge petition is an opportunity for every Member of Congress to show where they stand. We intend to gather 218 signatures from both parties, and I sincerely hope my colleagues across the aisle will join us. If they truly believe in protecting these essential benefits, this is their chance to prove it.”

    “Republicans have repeatedly claimed they’re not going to take away people’s health care by cutting Medicaid,” said Energy and Commerce Committee Ranking Member Pallone, Jr. “If they’re telling the truth, Republicans should join Democrats in signing this discharge petition to bring our bill to the House floor to ensure Medicaid will not be cut to pass tax breaks that help the rich get richer.”

    “Slashing $230 billion from SNAP will take food assistance away from children, seniors and veterans,” said Agriculture Committee Ranking Member Craig. “Supporting the Hands Off Medicaid and SNAP discharge petition is a way to protect their access to food and health care at a time when all Americans are struggling with rising costs.”

    “House Democrats oppose taking food and health care from working people to pay for tax cuts for billionaires,” said Congressional Progressive Caucus Chair Casar. “Now the question is: will any House Republican join us, or will they all support taking health care and food from millions of Americans?”

    “Signing this discharge petition should be as easy as saying you support Medicaid and SNAP, but so far not one Republican is willing to put health care and food assistance for millions of people above tax cuts for billionaires,” said New Democrat Coalition Chair Schneider. “If our colleagues across the aisle truly support hardworking families over President Trump’s billionaire buddies, they’ll join us in signing this petition.” 

    “In my district alone, nearly 80,000 residents rely on SNAP and food assistance programs to keep their families fed. Under this budget plan, they would be left behind. And the 34,000 CA-46 residents who receive Affordable Care Act coverage would see their premiums go up by over $2,000 every year. That is unacceptable, unconscionable, and un-American,” said Blue Dog Coalition Co-Chair for Policy and Legislative Strategy Lou Correa. “We’re introducing this discharge petition to block these harmful cuts and ensure that tens of millions of our constituents continue to receive the health care and food assistance they need and deserve. And we hope our colleagues across the aisle will join us in signing it.”

    The Hands Off Medicaid and SNAP Act is led in the House by Representatives Brendan F. Boyle (PA-02), Ranking Member of the House Budget Committee; Frank Pallone, Jr. (NJ-06), Ranking Member of the Energy and Commerce Committee; Angie Craig (MN-02), Ranking Member of the Agriculture Committee; Greg Casar (TX-35), Chair of the Congressional Progressive Caucus; Brad Schneider (IL-10), Chair of the New Democrat Coalition; and Lou Correa (CA-46), Blue Dog Coalition Co-Chair for Policy and Legislative Strategy.

    More information about the Hands Off Medicaid and SNAP Act is available here.

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    MIL OSI USA News –

  • MIL-OSI USA: PRESS RELEASE: Congresswoman Barragán Leads Congressional Letter Opposing Trump Administration’s Semiconductor Tariff Proposal

    Source: United States House of Representatives – Representative Nanette Diaz Barragán (CA-44)

    FOR IMMEDIATE RELEASE
    May 8, 2025

    Contact: Jin.Choi@mail.house.gov

    Congresswoman Barragán Leads Congressional Letter Opposing Trump Administration’s Semiconductor Tariff Proposal

    Washington, D.C. – Yesterday, Congresswoman Nanette Barragán (CA-44) led a group of her Democratic colleagues on the House Communications and Technology Subcommittee in calling on President Donald Trump and Commerce Secretary Howard Lutnick to abandon proposals to impose sweeping tariffs on the semiconductor industry.

    The letter, signed by House Communications and Technology Subcommittee Ranking Member Doris Matsui and subcommittee members Greg Landsman and Jennifer McClellan, warns that the proposed tariffs would increase costs for consumers, disrupt American manufacturing, undermine U.S. competition, and strain relationships with key international allies—all without achieving the stated goal of boosting domestic production.

    “These tariffs will increase the cost of essential technologies like smartphones, laptops, and broadband equipment, and will act as a direct tax on American consumers,” wrote the group of Democratic lawmakers. “The result: reduced productivity, limited access to essential tools, and slower economic growth.” 

    “Rather than resorting to punitive trade measures that risk backfiring economically and geopolitically, the United States should double down on policies that support domestic semiconductor production and strengthen our long-term competitiveness,” they continued. “We urge you to abandon these ill-conceived tariff plans and instead work with Congress, industry leaders, and international allies to bolster American innovation, secure our supply chains, and build a technology economy that serves American workers and consumers.”

    The full text of the letter can be found here and below.

    President Trump and Secretary Lutnick:

    We have serious concerns with your reported plans to impose sector-specific tariffs on semiconductor products, including chips, telecommunications equipment, and consumer electronics. These tariffs would raise prices for consumers, disrupt American manufacturing, and damage our nation’s global competitiveness—all while failing to meaningfully strengthen national security or domestic production.

    These tariffs will increase the cost of essential technologies like smartphones, laptops, and broadband equipment, and will act as a direct tax on American consumers. The result: reduced productivity, limited access to essential tools, and slower economic growth.

    The United States currently lacks the capacity to rapidly relocate large-scale technology manufacturing to our country. Structural challenges—including a shortage of workers trained in high-tech manufacturing and underdeveloped semiconductor infrastructure—make such a transition unrealistic in the short term. Tariffs will not solve these issues and could instead deepen them by inflating costs, discouraging investment, and weakening the long-term position of the United States technology industry.

    The ongoing uncertainty surrounding this tariff plan has already disrupted financial markets and injected instability into critical sectors of our economy. The technology industry depends on predictable, long-term policy—not abrupt changes that create confusion for investors, suppliers, and businesses.

    These tariffs could also provoke diplomatic fallout with some of our most trusted allies. Taiwan, South Korea, Japan, and Malaysia are potential targets for these tariffs. These are all vital partners in our technology supply chains and unnecessary tariffs could jeopardize the resilience of our supply chains and the strategic alliances that have long supported American leadership in innovation.

    Additionally, a disruption to American technology imports from allied nations could undermine the Federal Communication Commission’s efforts to implement the Secure and Trusted Networks Reimbursement (“Rip and Replace”) Program. Rip and Replace, which has received strong bipartisan, bicameral support in Congress, strengthens our national security by supporting providers who are working to replace insecure network equipment from Chinese vendors like Huawei and ZTE, while simultaneously maintaining network connectivity for consumers across the country. By disrupting global supply chains and raising the overall cost of replacing network infrastructure, the proposed tariffs could needlessly strain the Rip and Replace program’s budget and delay program implementation.

    The consequences of supply chain disruptions would also be particularly acute in the race to deploy 5G infrastructure and to lead in artificial intelligence. Access to cutting-edge components is essential to maintaining leadership in 5G, as well as in AI development. Disrupting access to these components would not only slow American progress but would also give China an unnecessary—and avoidable—strategic advantage.

    We are especially alarmed by reports that these tariffs will be enacted under Section 232 of the Trade Expansion Act of 1962, a provision designed to protect national security. This seems incompatible with the imposition of tariffs that damage alliances and delay technological innovation – that would in fact compromise our national security. As the Department of Defense made clear in its 2022 report Securing Defense-Critical Supply Chains, disruptions to allied supply lines—particularly in microelectronics—pose a direct threat to military readiness.

    Rather than resorting to punitive trade measures that risk backfiring economically and geopolitically, the United States should double down on policies that support domestic semiconductor production and strengthen our long-term competitiveness. Congress passed the CHIPS and Science Act precisely for this purpose—to revitalize American semiconductor manufacturing, create high-quality union jobs, and reduce our dependence on foreign supply chains, especially those vulnerable to authoritarian influence or geopolitical instability.

    We urge you to abandon these ill-conceived tariff plans and instead work with Congress, industry leaders, and international allies to bolster American innovation, secure our supply chains, and build a technology economy that serves American workers and consumers.

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    MIL OSI USA News –

  • MIL-OSI: Advantage Solutions supports St. Louis in wake of tornado devastation

    Source: GlobeNewswire (MIL-OSI)

    ST. LOUIS, May 19, 2025 (GLOBE NEWSWIRE) — Advantage Solutions Inc. (NASDAQ: ADV) announced today it will provide support to The Urban League of Metropolitan St. Louis following the recent tornadoes that caused widespread destruction in the region, including significant damage to the League’s headquarters.

    In alignment with its commitment to build stronger, more resilient communities, Advantage will donate $25,000 to the Urban League’s emergency relief efforts and is mobilizing a team of employees to help with on-the-ground cleanup and recovery efforts.

    “Our hearts are with the entire St. Louis community, and especially with our partners at the Urban League. Despite suffering their own major losses, they’re once again stepping up to serve their neighbors in need,” said Advantage Solutions CEO Dave Peacock. “In times of crisis, we believe businesses must act with urgency and compassion. That’s why we’re expanding our support and calling on others to do the same.”

    In addition to the community at large, Advantage is committed to supporting its own teammates impacted by the disaster. Eligible teammates can apply for grants through the company’s Associate Support Fund, which provides financial assistance for those affected by natural disasters and other unexpected hardships. Additionally, all teammates have access to the Employee Assistance Program, which offers 24/7 support from trained advocates who can help assess needs, develop solutions, and connect individuals to valuable resources.

    Advantage’s support of the Urban League builds on a multi-year partnership that includes its Save Our Sisters Fund, which provides holistic wraparound services — including employment, education, rental, mortgage and utility assistance — for women from all walks of life to help them reach their full potential.

    To learn more about the Urban League’s recovery efforts or to make a contribution, visit www.ulstl.com.

    About Advantage Solutions

    Advantage Solutions is the leading omnichannel retail solutions agency in North America, uniquely positioned at the intersection of consumer-packaged goods (CPG) brands and retailers. With its data- and technology-powered services, Advantage leverages its unparalleled insights, expertise and scale to help brands and retailers of all sizes generate demand and get products into the hands of consumers, wherever they shop. Whether it’s creating meaningful moments and experiences in-store and online, optimizing assortment and merchandising, or accelerating e-commerce and digital capabilities, Advantage is the trusted partner that keeps commerce and life moving. Advantage has offices throughout North America and strategic investments and owned operations in select international markets. For more information, please visit YourADV.com.

    About the Urban League of Metropolitan St. Louis

    The mission of the Urban League of Metropolitan St. Louis, Inc. is to empower African Americans and others throughout the region in securing economic self-reliance, social equality, and civil rights. As the leading champion of empowerment and opportunity for African Americans, the Urban League of Metropolitan St. Louis envisions a region where all people are valued members of the community; can adequately support themselves and their families; live in the neighborhoods that are vibrant and thriving; and share in the region’s prosperity and well-being.

    Investor Contact:
    Ruben Mella
    ruben.mella@youradv.com

    Media Contact:
    Jeffrey Levine
    corp.comm@youradv.com

    The MIL Network –

  • MIL-OSI: Lightning-Fast Speeds, Massive Capacities: Crucial SSDs Elevate Gaming and Creative Endeavors

    Source: GlobeNewswire (MIL-OSI)

    • The Crucial T710 sets a new standard with unparalleled Gen5 performance for pro gamers and creators.
    • The Crucial X10 portable SSD combines sleek style, functional durability and storage options up to 8TB. 

    TAIPEI, Taiwan, May 19, 2025 (GLOBE NEWSWIRE) — Today at Computex 2025, Micron Technology, Inc. (Nasdaq: MU) expanded its leadership in consumer storage by unveiling its latest high-performance SSDs — the Crucial T710 PCIe Gen5 NVMe SSD and the Crucial X10 Portable SSD. Forged from years of dedicated research and development, these next-gen SSDs redefine performance standards across the board by pushing the limits of speed, capacity and durability — powering your world at full speed. 

    “Our fastest Gen5 drive yet, the Crucial T710 SSD turbocharges gaming and creative applications,” said Dinesh Bahal, corporate vice president and general manager of Micron’s Commercial Products Group. “Meanwhile, our X10 portable drive is a powerhouse, effortlessly handling massive backups, games and photo libraries — no matter where life takes you or what it throws your way. These innovations from Crucial underscore our relentless effort to exceed our customers’ storage needs.” 

     

    A Media Snippet accompanying this announcement is available by clicking on this link.

    Crucial T710: Blazing fast Gen5 speed for gaming and AI 

    Leveraging cutting-edge NVMe technology and Micron’s G9 NAND, the Crucial T710 delivers unmatched Gen5 performance for pro-level gaming, creative applications and data-intensive tasks like AI. Boasting our best Gen5 speeds to date, it features up to:

    • 14,900 megabytes per second (MB/s) sequential read speeds1
    • 13,800 MB/s sequential write speeds1
    • 2.2 million random read speeds1
    • 2.3 million random write speeds 1

    The T710 delivers up to 67% more IOPs per watt than previous-generation Gen5 drives, running faster and cooler and making it ideal for PCs, laptops and workstations. The optional integrated heatsink ensures the T710 stays cool under pressure and capacity options up to 4TB2 means users have the storage space they need for their most demanding projects. 

    The increasing demands of AI applications require robust hardware for optimal performance. With its dramatically increased energy efficiency and decreased latency, the Crucial T710 is perfect for enabling real-time local data processing on AI PCs, with the speed to load a large language model from SSD to memory in under one second.3

    Crucial X10: Fast and tough portable storage to expand your digital life

    Crucial’s latest portable drive, the X10, delivers read speeds of up to 2,100 MB/s,4 twice as fast as its predecessor.5 The X10 is designed for users who need a fast, reliable and durable solution to back up and store their most important photos, games, movies, documents and more. With 4TB, 6TB and 8TB6 versions available, the Crucial X10 allows users to store massive amounts of data, including up to 500,000 4K photos, 114 games or 2.6 million MP3 files7.

    With its sleek, matte blue design, the X10 is perfect for content creators, gamers, photography hobbyists and mainstream consumers who require high-speed data transfer and ample storage capacity. Its durable design is IP65 dust- and water-resistant and drop-resistant up to 9.8 feet,8 making it a vault for your data — secure, portable and always ready.

    The T710 uses Silicon Motion’s SM2508 controller, while the X10 uses the SM2322 controller.

    “To meet the evolving demands of next-generation AI PCs, we’ve engineered our industry-leading SM2508 controller to deliver game-changing Gen5 performance combined with significant power savings compared to competitors,” said Nelson Duann, senior vice president of Silicon Motion’s Client & Automotive Storage Business. “Our close technical collaboration with Micron to turbocharge the Crucial T710 will transform the latest notebooks with extreme Gen5 performance that meets the needs of intensive applications like AI, gaming and beyond.”

    Availability: The Crucial X10 is now available for purchase through etailers, retailers and global channel partners, while T710 will be available starting in July 2025.

    Additional Resources:

    About Micron Technology, Inc.

    Micron Technology, Inc. is an industry leader in innovative memory and storage solutions, transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND, and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.

    © 2025 Micron Technology, Inc. All rights reserved. Information, products, and/or specifications are subject to change without notice. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners.

    1 Typical I/O performance as measured using CrystalDiskMark® with a queue depth of 512 and write cache enabled. Windows 11 Core isolation disabled for performance measurement. Fresh out-of-box (FOB) state is assumed. For performance measurement purposes, the SSD may be restored to FOB state using the secure erase command. System variations will affect measured results.

    2 Some storage capacity is used for formatting and other purposes and is not available for data storage. 1GB equals 1 billion bytes. 

    3 As tested in Micron labs using Llama 2 with 13 billion parameters,10.4GB file size and 6-bit quantization vs. the PCIe Gen4 Micron 3500 SSD.

    4 MB/s speed measured by Crucial as maximum sequential performance of device on a high-performance desktop computer with Crystal Disk Mark (version 8.0.4 for x64). Your performance may vary.

    5 Comparative speed claims measured against maximum reported speeds from Crucial X9 SSD. Your performance may vary.

    6 Some storage capacity is used for formatting and other purposes and is not available for data storage. 1GB equals 1 billion bytes. 

    7 Based on average photo size of 6MB, video at 4K/60fps in H264 format at 24GB/hr and 200GB for AAA games.

    8 Up to 3 meters without impact to data on a carpeted floor.

    The MIL Network –

  • MIL-OSI: Qifu Technology Announces First Quarter 2025 Unaudited Financial Results

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, China, May 19, 2025 (GLOBE NEWSWIRE) — Qifu Technology, Inc. (NASDAQ: QFIN; HKEx: 3660) (“Qifu Technology” or the “Company”), a leading AI-empowered Credit-Tech platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2025.

    First Quarter 2025 Business Highlights

    • As of March 31, 2025, our platform has connected 163 financial institutional partners and 268.2 million consumers*1 with potential credit needs, cumulatively, an increase of 11.1% from 241.4 million a year ago.
    • Cumulative users with approved credit lines*2 were 58.4 million as of March 31, 2025, an increase of 11.6% from 52.3 million as of March 31, 2024.
    • Cumulative borrowers with successful drawdown, including repeat borrowers was 35.5 million as of March 31, 2025, an increase of 13.8% from 31.2 million as of March 31, 2024.
    • In the first quarter of 2025, financial institutional partners originated 24,401,374 loans*3 through our platform.
    • Total facilitation and origination loan volume*4 reached RMB88,883 million, an increase of 15.8% from RMB76,784 million in the same period of 2024 and a decrease of 1.1% from RMB89,885 million in the prior quarter. RMB43,811 million of such loan volume was under capital-light model, Intelligence Credit Engine (“ICE”) and total technology solutions*5, representing 49.3% of the total, an increase of 15.1% from RMB38,053 million in the same period of 2024 and a decrease of 8.3% from RMB47,796 million in the prior quarter.
    • Total outstanding loan balance*6 was RMB140,273 million as of March 31, 2025, an increase of 5.5% from RMB132,964 million as of March 31, 2024 and an increase of 2.4% from RMB137,014 million as of December 31, 2024. RMB78,681 million of such loan balance was under capital-light model, “ICE” and total technology solutions, an increase of 11.4% from RMB70,641 million as of March 31, 2024 and a decrease of 1.2% from RMB79,599 million as of December 31, 2024.
    • The weighted average contractual tenor of loans originated by financial institutions across our platform in the first quarter of 2025 was approximately 10.17 months, compared with 10.10 months in the same period of 2024.
    • 90 day+ delinquency rate*7 of loans originated by financial institutions across our platform was 2.02% as of March 31, 2025.
    • Repeat borrower contribution*8 of loans originated by financial institutions across our platform for the first quarter of 2025 was 95.1%.

    1 Refers to cumulative registered users across our platform.
    2 “Cumulative users with approved credit lines” refers to the total number of users who had submitted their credit applications and were approved with a credit line at the end of each period.
    3 Including 2,022,501 loans across “V-pocket”, and 22,378,873 loans across other products.
    4 Refers to the total principal amount of loans facilitated and originated during the given period. Retrospectively excluding the impact of discontinued service, which did not have and is not expected to have a material impact on our overall business, financial condition, and results of operations.
    5 “ICE” is an open platform primarily on our “Qifu Jietiao” APP (previously known as “360 Jietiao”), we match borrowers and financial institutions through big data and cloud computing technology on “ICE”, and provide pre-loan investigation report of borrowers. For loans facilitated through “ICE”, the Company does not bear principal risk.
    Under total technology solutions, we have been offering end-to-end technology solutions to financial institutions based on on-premise deployment, SaaS or hybrid model since 2023.
    6 “Total outstanding loan balance” refers to the total amount of principal outstanding for loans facilitated and originated at the end of each period, excluding loans delinquent for more than 180 days. Retrospectively excluding the impact of discontinued service, which did not have and is not expected to have a material impact on our overall business, financial condition, and results of operations.
    7 “90 day+ delinquency rate” refers to the outstanding principal balance of on- and off-balance sheet loans that were 91 to 180 calendar days past due as a percentage of the total outstanding principal balance of on- and off-balance sheet loans across our platform as of a specific date. Loans that are charged-off and loans under “ICE” and total technology solutions are not included in the delinquency rate calculation.
    8 “Repeat borrower contribution” for a given period refers to (i) the principal amount of loans borrowed during that period by borrowers who had historically made at least one successful drawdown, divided by (ii) the total loan facilitation and origination volume through our platform during that period.

    First Quarter 2025 Financial Highlights

    • Total net revenue was RMB4,690.7 million (US$646.4 million), compared to RMB4,482.3 million in the prior quarter.
    • Net income was RMB1,796.6 million (US$247.6 million), compared to RMB1,912.7 million in the prior quarter.
    • Non-GAAP*9 net income was RMB1,926.2 million (US$265.4 million), compared to RMB1,972.4 million in the prior quarter.
    • Net income per fully diluted American depositary share (“ADS”) was RMB12.62 (US$1.74), compared to RMB13.24 in the prior quarter.
    • Non-GAAP net income per fully diluted ADS was RMB13.53 (US$1.86), compared to RMB13.66 in the prior quarter.

    9 Non-GAAP income from operations, Non-GAAP net income, Non-GAAP operating margin, Non-GAAP net income margin and Non-GAAP net income per fully diluted ADS are Non-GAAP financial measures. For more information on these Non-GAAP financial measures, please see the section of “Use of Non-GAAP Financial Measures Statement” and the table captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this press release.

    Mr. Haisheng Wu, Chief Executive Officer and Director of Qifu Technology, commented, “First quarter came in stronger than typical seasonal trend despite the ongoing macroeconomic challenges. We observed an increase in users’ activities early in the quarter as public sentiment slightly improved in response to the strong stimulus messages delivered by government officials. However, we remain prudent in our business planning as tariff-related economic uncertainties may persist throughout this year. We will continue to focus on improving the quality and sustainability of our business.

    During the quarter, we issued a record amount of ABS as the overall funding environment remained supportive. As a result, the blended funding cost continued to decline sequentially. Approximately 56% of the quarter-end loan balance was under the capital-light model, ICE and total technology solutions, demonstrating the efficiency of our platform services. The contribution from non-credit risk bearing services also continued to help us mitigate certain risks in a challenging environment. During the quarter, nearly half of our new credit line users were acquired through embedded finance partners, which we also refer to as API channels, as we further diversify our user acquisition channels. Loan volumes through the API channels increased significantly in the quarter.

    With the growing maturity and efficiency of large language models, we will continue to allocate more resources to the application of AI across our credit service offerings. We expect that these AI-powered tools will not only allow us to serve our users with better offerings at greater efficiency but also enable our financial institution clients to better utilize the cutting-edge AI technologies, through our open platform. We believe these efforts will enable us to better navigate through the current environment and position us well to capture long-term opportunities through innovative technologies, enhanced products and collaborative models.”

    “We are pleased to start 2025 with another quarter of solid financial results despite an uncertain macro environment. For the first quarter, total revenue was RMB4.69 billion and Non-GAAP net income was RMB1.93 billion,” Mr. Alex Xu, Chief Financial Officer, commented. “During the quarter, we successfully completed the US$690 million convertible notes offering and it gave us ample resources to accelerate our share repurchase programs. Our strong financial position enables us to consistently execute our strategy, support business initiatives, and enhance returns to our shareholders.”

    Mr. Yan Zheng, Chief Risk Officer, added, “In the first quarter, we maintained a relatively stable risk profile as users’ activities came in stronger than normal. Although overall risk performance fluctuated from the best level we achieved in the prior quarter, it remained well within our target range. Among key leading indicators, Day-1 delinquency rate*10 was 5.0% in the first quarter, and 30-day collection rate*11 was 88.1%. While macro volatility may induce short-term fluctuation in risk metrics, we look forward to maintaining relatively stable risk performance in the coming quarters as we seek growth opportunities in 2025.”

    10 “Day-1 delinquency rate” is defined as (i) the total amount of principal that became overdue as of a specified date, divided by (ii) the total amount of principal that was due for repayment as of such specified date.
    11 “30-day collection rate” is defined as (i) the amount of principal that was repaid in one month among the total amount of principal that became overdue as of a specified date, divided by (ii) the total amount of principal that became overdue as of such specified date.

    First Quarter 2025 Financial Results

    Total net revenue was RMB4,690.7 million (US$646.4 million), compared to RMB4,153.2 million in the same period of 2024, and RMB4,482.3 million in the prior quarter.

    Net revenue from Credit Driven Services was RMB3,110.9 million (US$428.7 million), compared to RMB3,016.3 million in the same period of 2024, and RMB2,889.5 million in the prior quarter.

    Loan facilitation and servicing fees-capital heavy were RMB429.8 million (US$59.2 million), compared to RMB243.8 million in the same period of 2024 and RMB363.0 million in the prior quarter. The year-over-year increase was primarily due to an increase in capital-heavy loan facilitation volume and longer effective loan tenor. The sequential increase was primarily due to the increase in effective loan tenor.

    Financing income*12 was RMB1,817.2 million (US$250.4 million), compared to RMB1,535.0 million in the same period of 2024 and RMB1,667.3 million in the prior quarter. The year-over-year and sequential increases were primarily due to the growth in the average outstanding balance of the on-balance-sheet loans.

    Revenue from releasing of guarantee liabilities was RMB778.2 million (US$107.2 million), compared to RMB1,166.0 million in the same period of 2024, and RMB761.8 million in the prior quarter. The year-over-year decrease was mainly due to the decrease in the average outstanding balance of off-balance-sheet capital-heavy loans during the period.

    Other services fees were RMB85.6 million (US$11.8 million), compared to RMB71.5 million in the same period of 2024, and RMB97.4 million in the prior quarter. The year-over-year and sequential changes reflected the changes in late payment fees under the credit driven services due to changes in collection rates of late paid loans.

    Net revenue from Platform Services was RMB1,579.8 million (US$217.7 million), compared to RMB1,136.9 million in the same period of 2024 and RMB1,592.8 million in the prior quarter.

    Loan facilitation and servicing fees-capital light were RMB373.7 million (US$51.5 million), compared to RMB502.7 million in the same period of 2024 and RMB515.1 million in the prior quarter. The year-over-year and sequential decreases were primarily due to the decreases in capital-light loan facilitation volume.

    Referral services fees were RMB1,004.6 million (US$138.4 million), compared to RMB548.8 million in the same period of 2024 and RMB907.2 million in the prior quarter. The year-over-year and sequential increases were mainly due to the increases in loan facilitation volume through ICE.

    Other services fees were RMB201.5 million (US$27.8 million), compared to RMB85.4 million in the same period of 2024 and RMB170.5 million in the prior quarter. The year-over-year and sequential changes reflected trends in other value-added services and late payment fees.

    Total operating costs and expenses were RMB2,716.0 million (US$374.3 million), compared to RMB2,789.1 million in the same period of 2024 and RMB2,591.9 million in the prior quarter.

    Facilitation, origination and servicing expenses were RMB714.5 million (US$98.5 million), compared to RMB736.0 million in the same period of 2024 and RMB734.7 million in the prior quarter.

    Funding costs were RMB122.7 million (US$16.9 million), compared to RMB156.0 million in the same period of 2024 and RMB126.8 million in the prior quarter. The year-over-year and sequential decreases were mainly due to lower average costs of ABS and trusts, partially offsetting by increases in fundings from ABS and trusts.

    Sales and marketing expenses were RMB591.5 million (US$81.5 million), compared to RMB415.6 million in the same period of 2024 and RMB523.9 million in the prior quarter. The year-over-year and sequential increases were primarily due to the increase in the allocation of marketing resources to embedded finance channels and content feed advertisements to generate more effective leads.

    General and administrative expenses were RMB196.5 million (US$27.1 million), compared to RMB106.4 million in the same period of 2024 and RMB156.1 million in the prior quarter. The year-over-year and sequential increases were primarily due to an increase in share-based compensations.

    Provision for loans receivable was RMB823.2 million (US$113.4 million), compared to RMB847.9 million in the same period of 2024 and RMB598.4 million in the prior quarter. The year-over-year decrease reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile. The sequential increase was primarily due to an increase in loan origination volume of on-balance-sheet loans and the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile.

    Provision for financial assets receivable was RMB39.9 million (US$5.5 million), compared to RMB99.0 million in the same period of 2024 and RMB63.3 million in the prior quarter. The year-over-year decrease reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile. The sequential decrease was mainly due to the decline in capital-heavy loan facilitation volume.

    Provision for accounts receivable and contract assets was RMB68.4 million (US$9.4 million), compared to RMB111.5 million in the same period of 2024 and RMB77.5 million in the prior quarter. The year-over-year and sequential decreases reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile and changes in capital-heavy and capital-light loan facilitation volume.

    Provision for contingent liability was RMB159.3 million (US$22.0 million), compared to RMB316.7 million in the same period of 2024 and RMB311.4 million in the prior quarter. The year-over-year and sequential decreases reflected the Company’s consistent approach in assessing provisions commensurate with its underlying loan profile. The sequential decrease also reflected the decline in capital-heavy loan facilitation volume.

    Income from operations was RMB1,974.7 million (US$272.1 million), compared to RMB1,364.1 million in the same period of 2024 and RMB1,890.3 million in the prior quarter.

    Non-GAAP income from operations was RMB2,104.3 million (US$290.0 million), compared to RMB1,408.7 million in the same period of 2024 and RMB1,950.0 million in the prior quarter.

    Operating margin was 42.1%. Non-GAAP operating margin was 44.9%.

    Income before income tax expense was RMB2,220.2 million (US$306.0 million), compared to RMB1,526.2 million in the same period of 2024 and RMB1,932.7 million in the prior quarter.

    Income taxes expense was RMB423.6 million (US$58.4 million), compared to RMB366.1 million in the same period of 2024 and RMB20.0 million in the prior quarter. The sequential increase was mainly due to the writeback of withholding taxes in the prior quarter related to the Company’s dividend payment and share repurchases, as the Company became eligible to a lower tax rate.

    Net income was RMB1,796.6 million (US$247.6 million), compared to RMB1,160.1 million in the same period of 2024 and RMB1,912.7 million in the prior quarter.

    Non-GAAP net income was RMB1,926.2 million (US$265.4 million), compared to RMB1,204.8 million in the same period of 2024 and RMB1,972.4 million in the prior quarter.

    Net income margin was 38.3%. Non-GAAP net income margin was 41.1%.

    Net income attributed to the Company was RMB1,800.2 million (US$248.1 million), compared to RMB1,164.3 million in the same period of 2024 and RMB1,916.6 million in the prior quarter.

    Non-GAAP net income attributed to the Company was RMB1,929.8 million (US$265.9 million), compared to RMB1,208.9 million in the same period of 2024 and RMB1,976.4 million in the prior quarter.

    Net income per fully diluted ADS was RMB12.62 (US$1.74).

    Non-GAAP net income per fully diluted ADS was RMB13.53 (US$1.86).

    Weighted average basic ADS used in calculating GAAP net income per ADS was 140.48 million.

    Weighted average diluted ADS used in calculating GAAP and non-GAAP net income per ADS was 142.62 million.

    Ordinary shares outstanding as of March 31, 2025 was 268,930,496.

    12 “Financing income” is generated from loans facilitated through the Company’s platform funded by the consolidated trusts and Fuzhou Microcredit, which charge fees and interests from borrowers.

    30 Day+ Delinquency Rate by Vintage and 180 Day+ Delinquency Rate by Vintage

    The following charts and tables display the historical cumulative 30 day+ delinquency rates by loan facilitation and origination vintage and 180 day+ delinquency rates by loan facilitation and origination vintage for all loans facilitated and originated through the Company’s platform. Loans under “ICE” and total technology solutions are not included in the 30 day+ charts and the 180 day+ charts:

    http://ml.globenewswire.com/Resource/Download/528f864e-af49-4be7-b48b-b2650fa2808a

    http://ml.globenewswire.com/Resource/Download/12433d9d-4214-431e-b551-59f682e1ed93

    Update on Share Repurchase

    On November 19, 2024, the Board approved a share repurchase plan (the “2025 Share Repurchase Plan”) whereby the Company is authorized to repurchase up to US$450 million worth of its ADSs or Class A ordinary shares over the next 12 months starting from January 1, 2025.

    As of May 19, 2025, the Company had in aggregate purchased approximately 4.4 million ADSs on the open market for a total amount of approximately US$178 million (inclusive of commissions) at an average price of US$40.2 per ADS pursuant to the 2025 Share Repurchase Plan.

    On March 25, 2025, the Board approved a new share repurchase plan (the “March 2025 Share Repurchase Plan”) whereby the Company is authorized to use to the net proceeds from the offering of convertible senior notes due 2030 to repurchase its ADSs and/or Class A ordinary shares, which runs in addition to the Company’s 2025 Share Repurchase Plan. On March 27, 2025, the Company announced the completion of the offering of the convertible senior notes in an aggregate principal amount of US$690 million due 2030. Concurrently with the pricing of this offering, the Company repurchased approximately 5.1 million ADSs with an aggregate value of approximately US$227 million at a price of US$44.23 per ADS. The Company expects to use the remaining net proceeds, which is approximately US$450 million, from the offering of the convertible senior notes to repurchase additional ADSs and/or Class A ordinary shares on the open market and/or through other means from time to time under the March 2025 Share Repurchase Plan.

    Business Outlook

    As macro-economic uncertainties persist, the Company intends to maintain a prudent approach in its business planning for 2025. Management will continue to focus on enhancing efficiency of the Company’s operations. As such, for the second quarter of 2025, the Company expects to generate a net income between RMB1.65 billion and RMB1.75 billion and a non-GAAP net income*13 between RMB1.75 billion and RMB1.85 billion, representing a year-on-year growth between 24% and 31%. This outlook reflects the Company’s current and preliminary views, which is subject to material changes.

    13 Non-GAAP net income represents net income excluding share-based compensation expenses.

    Conference Call Preregistration

    Qifu Technology’s management team will host an earnings conference call at 8:30 PM U.S. Eastern Time on Monday, May 19, 2025 (8:30 AM Beijing Time on Tuesday, May 20, 2025).

    All participants wishing to join the conference call must pre-register online using the link provided below.

    Registration Link: https://s1.c-conf.com/diamondpass/10047043-kj87y6.html

    Upon registration, each participant will receive details for the conference call, including dial-in numbers and a unique access PIN. Please dial in 10 minutes before the call is scheduled to begin.

    Additionally, a live and archived webcast of the conference call will be available on the Investor Relations section of the Company’s website at https://ir.qifu.tech.

    About Qifu Technology

    Qifu Technology is a leading AI-empowered Credit-Tech platform in China. By leveraging its sophisticated machine learning models and data analytics capabilities, the Company provides a comprehensive suite of technology services to assist financial institutions and consumers and SMEs in the loan lifecycle, ranging from borrower acquisition, preliminary credit assessment, fund matching and post-facilitation services. The Company is dedicated to making credit services more accessible and personalized to consumers and SMEs through Credit-Tech services to financial institutions.

    For more information, please visit: https://ir.qifu.tech.

    Use of Non-GAAP Financial Measures Statement

    To supplement our financial results presented in accordance with U.S. GAAP, we use Non-GAAP financial measure, which is adjusted from results based on U.S. GAAP to exclude share-based compensation expenses. Reconciliations of our Non-GAAP financial measures to our U.S. GAAP financial measures are set forth in tables at the end of this earnings release, which provide more details on the Non-GAAP financial measures.

    We use Non-GAAP income from operation, Non-GAAP operating margin, Non-GAAP net income, Non-GAAP net income margin, Non-GAAP net income attributed to the Company and Non-GAAP net income per fully diluted ADS in evaluating our operating results and for financial and operational decision-making purposes. Non-GAAP income from operation represents income from operation excluding share-based compensation expenses. Non-GAAP operating margin is equal to Non-GAAP income from operation divided by total net revenue. Non-GAAP net income represents net income excluding share-based compensation expenses. Non-GAAP net income margin is equal to Non-GAAP net income divided by total net revenue. Non-GAAP net income attributed to the Company represents net income attributed to the Company excluding share-based compensation expenses. Non-GAAP net income per fully diluted ADS represents net income excluding share-based compensation expenses per fully diluted ADS. Such adjustments have no impact on income tax. We believe that Non-GAAP income from operation, Non-GAAP operating margin, Non-GAAP net income, Non-GAAP net income margin, Non-GAAP net income attributed to the Company and Non-GAAP net income per fully diluted ADS help identify underlying trends in our business that could otherwise be distorted by the effect of certain expenses that we include in results based on U.S. GAAP. We believe that Non-GAAP income from operation and Non-GAAP net income provide useful information about our operating results, enhance the overall understanding of our past performance and future prospects and allow for greater visibility with respect to key metrics used by our management in its financial and operational decision-making. Our Non-GAAP financial information should be considered in addition to results prepared in accordance with U.S. GAAP, but should not be considered a substitute for or superior to U.S. GAAP results. In addition, our calculation of Non-GAAP financial information may be different from the calculation used by other companies, and therefore comparability may be limited.

    Exchange Rate Information

    This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB 7.2567 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of March 31, 2025.

    Safe Harbor Statement

    Any forward-looking statements contained in this announcement are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as the Company’s strategic and operational plans, contain forward-looking statements. Qifu Technology may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”), in announcements made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including the Company’s business outlook, beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, which factors include but not limited to the following: the Company’s growth strategies, changes in laws, rules and regulatory environments, the recognition of the Company’s brand, market acceptance of the Company’s products and services, trends and developments in the credit-tech industry, governmental policies relating to the credit-tech industry, general economic conditions in China and around the globe, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks and uncertainties is included in Qifu Technology’s filings with the SEC and announcements on the website of the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release, and Qifu Technology does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For more information, please contact:

    Qifu Technology
    E-mail: ir@360shuke.com

    Unaudited Condensed Consolidated Balance Sheets
    (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)
    except for number of shares and per share data, or otherwise noted)
           
      December 31, March 31, March 31,
      2024 2025 2025
      RMB RMB USD
    ASSETS      
    Current assets:      
    Cash and cash equivalents 4,452,416 8,578,822 1,182,193
    Restricted cash 2,353,384 3,236,427 445,992
    Short term investments 3,394,073 2,040,269 281,157
    Security deposit prepaid to third-party guarantee companies 162,617 173,437 23,900
    Funds receivable from third party payment service providers 462,112 347,416 47,875
    Accounts receivable and contract assets, net 2,214,530 2,316,593 319,235
    Financial assets receivable, net 1,553,912 1,530,084 210,851
    Amounts due from related parties 8,510 3,242 447
    Loans receivable, net 26,714,428 30,675,633 4,227,215
    Prepaid expenses and other assets 1,464,586 1,510,818 208,196
    Total current assets 42,780,568 50,412,741 6,947,061
    Non-current assets:      
    Accounts receivable and contract assets, net-noncurrent 27,132 20,004 2,757
    Financial assets receivable, net-noncurrent 170,779 189,379 26,097
    Amounts due from related parties 51 39 5
    Loans receivable, net-noncurrent 2,537,749 2,314,826 318,992
    Property and equipment, net 362,774 405,926 55,938
    Land use rights, net 956,738 951,557 131,128
    Intangible assets 11,818 11,420 1,574
    Goodwill 42,414 42,407 5,844
    Deferred tax assets 1,206,325 1,244,757 171,532
    Other non-current assets 36,270 34,112 4,701
    Total non-current assets 5,352,050 5,214,427 718,568
    TOTAL ASSETS 48,132,618 55,627,168 7,665,629
           
    LIABILITIES AND EQUITY      
    Current liabilities:      
    Payable to investors of the consolidated trusts-current 8,188,454 6,541,069 901,383
    Accrued expenses and other current liabilities 2,492,921 3,337,707 459,948
    Amounts due to related parties 67,495 48,442 6,675
    Short term loans 1,369,939 1,219,431 168,042
    Guarantee liabilities-stand ready 2,383,202 2,377,408 327,616
    Guarantee liabilities-contingent 1,820,350 1,794,747 247,323
    Income tax payable 1,040,687 1,054,537 145,319
    Other tax payable 109,161 3,897 537
    Total current liabilities 17,472,209 16,377,238 2,256,843
    Non-current liabilities:      
    Deferred tax liabilities 439,435 569,734 78,511
    Payable to investors of the consolidated trusts-noncurrent 5,719,600 10,354,000 1,426,819
    Convertible senior notes – 4,912,524 676,964
    Other long-term liabilities 255,155 297,730 41,028
    Total non-current liabilities 6,414,190 16,133,988 2,223,322
    TOTAL LIABILITIES 23,886,399 32,511,226 4,480,165
    TOTAL QIFU TECHNOLOGY INC EQUITY 24,190,043 23,063,344 3,178,216
    Noncontrolling interests 56,176 52,598 7,248
    TOTAL EQUITY 24,246,219 23,115,942 3,185,464
    TOTAL LIABILITIES AND EQUITY 48,132,618 55,627,168 7,665,629
           
    Unaudited Condensed Consolidated Statements of Operations
    (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)
    except for number of shares and per share data, or otherwise noted)
           
      Three months ended March 31,
      2024  2025  2025
      RMB RMB USD
    Credit driven services 3,016,282 3,110,866 428,690
    Loan facilitation and servicing fees-capital heavy 243,766 429,775 59,225
    Financing income 1,534,986 1,817,221 250,420
    Revenue from releasing of guarantee liabilities 1,166,018 778,222 107,242
    Other services fees 71,512 85,648 11,803
    Platform services 1,136,901 1,579,831 217,706
    Loan facilitation and servicing fees-capital light 502,715 373,709 51,498
    Referral services fees 548,824 1,004,622 138,441
    Other services fees 85,362 201,500 27,767
    Total net revenue 4,153,183 4,690,697 646,396
    Facilitation, origination and servicing 736,026 714,492 98,460
    Funding costs 155,963 122,657 16,903
    Sales and marketing 415,617 591,495 81,510
    General and administrative 106,415 196,482 27,076
    Provision for loans receivable 847,921 823,187 113,438
    Provision for financial assets receivable 99,003 39,863 5,493
    Provision for accounts receivable and contract assets 111,473 68,445 9,432
    Provision for contingent liabilities 316,664 159,343 21,958
    Total operating costs and expenses 2,789,082 2,715,964 374,270
    Income from operations 1,364,101 1,974,733 272,126
    Interest income, net 50,058 67,774 9,340
    Foreign exchange gain 82 2,123 293
    Other income, net 111,968 175,600 24,198
    Income before income tax expense 1,526,209 2,220,230 305,957
    Income taxes expense (366,065) (423,631) (58,378)
    Net income 1,160,144 1,796,599 247,579
    Net loss attributable to noncontrolling interests 4,143 3,576 493
    Net income attributable to ordinary shareholders of the Company 1,164,287 1,800,175 248,072
    Net income per ordinary share attributable to ordinary shareholders of Qifu Technology, Inc.
    Basic 3.73 6.41 0.88
    Diluted 3.65 6.31 0.87
           
    Net income per ADS attributable to ordinary shareholders of Qifu Technology, Inc.  
    Basic 7.46 12.82 1.76
    Diluted 7.30 12.62 1.74
           
    Weighted average shares used in calculating net income per ordinary share  
    Basic 312,027,192 280,958,513 280,958,513
    Diluted 318,915,157 285,237,588 285,237,588
           
    Unaudited Condensed Consolidated Statements of Cash Flows
    (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)
    except for number of shares and per share data, or otherwise noted)
         
      Three months ended March 31,
      2024  2025  2025 
      RMB RMB USD
    Net cash provided by operating activities 1,958,267 2,805,685 386,634
    Net cash used in investing activities (3,138,175) (3,240,186) (446,510)
    Net cash provided by financing activities 1,775,409 5,449,071 750,902
    Effect of foreign exchange rate changes 2,095 (5,121) (705)
    Net increase in cash and cash equivalents 597,596 5,009,449 690,321
    Cash, cash equivalents, and restricted cash, beginning of period 7,558,997 6,805,800 937,864
    Cash, cash equivalents, and restricted cash, end of period 8,156,593 11,815,249 1,628,185
           
    Unaudited Condensed Consolidated Statements of Comprehensive Income/(Loss)
    (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)
    except for number of shares and per share data, or otherwise noted)
       
      Three months ended March 31,
      2024 2025 2025
      RMB RMB USD
    Net income 1,160,144 1,796,599 247,579
    Other comprehensive income, net of tax of nil:      
    Foreign currency translation adjustment 2,010 (15,362) (2,117)
    Other comprehensive income (loss) 2,010 (15,362) (2,117)
    Total comprehensive income 1,162,154 1,781,237 245,462
    Comprehensive loss attributable to noncontrolling interests 4,143 3,576 493
    Comprehensive income attributable to ordinary shareholders 1,166,297 1,784,813 245,955
           
    Unaudited Reconciliations of GAAP and Non-GAAP Results
    (Amounts in thousands of Renminbi (“RMB”) and U.S. dollars (“USD”)
    except for number of shares and per share data, or otherwise noted)
           
      Three months ended March 31,
      2024 2025 2025
      RMB RMB USD
    Reconciliation of Non-GAAP Net Income to Net Income      
    Net income 1,160,144 1,796,599 247,579
    Add: Share-based compensation expenses 44,645 129,614 17,861
    Non-GAAP net income 1,204,789 1,926,213 265,440
    GAAP net income margin 27.9% 38.3%  
    Non-GAAP net income margin 29.0% 41.1%  
           
    Net income attributable to shareholders of Qifu Technology, Inc. 1,164,287 1,800,175 248,072
    Add: Share-based compensation expenses 44,645 129,614 17,861
    Non-GAAP net income attributable to shareholders of Qifu Technology, Inc. 1,208,932 1,929,789 265,933
    Weighted average ADS used in calculating net income per ordinary share for both GAAP and non-GAAP EPS – diluted 159,457,579 142,618,794 142,618,794
    Net income per ADS attributable to ordinary shareholders of Qifu Technology, Inc. – diluted 7.30 12.62 1.74
    Non-GAAP net income per ADS attributable to ordinary shareholders of Qifu Technology, Inc. – diluted 7.58 13.53 1.86
           
    Reconciliation of Non-GAAP Income from operations to Income from operations      
    Income from operations 1,364,101 1,974,733 272,126
    Add: Share-based compensation expenses 44,645 129,614 17,861
    Non-GAAP Income from operations 1,408,746 2,104,347 289,987
    GAAP operating margin 32.8% 42.1%  
    Non-GAAP operating margin 33.9% 44.9%  
           

    The MIL Network –

  • MIL-OSI USA: Energy Secretary Chris Wright Delivers Keynote Remarks on Completion of First B61-13 Production Unit at Pantex Plant

    Source: US Department of Energy

    AMARILLO— U.S. Secretary of Energy Chris Wright delivered keynote remarks today at the Department of Energy’s Pantex Plant in Amarillo, Texas, marking the completion of the first production unit of the B61-13 nuclear gravity bomb.

    The B61-13 is the latest modification to the B61 family of nuclear weapons and was completed nearly a year ahead of schedule and less than two years after the program was first announced, making it one of the most rapidly developed and fielded weapons since the Cold War. Under President Trump’s leadership, the Department is modernizing America’s nuclear stockpile to deliver peace through strength. The B61-13 builds on proven B61-12 production capabilities and incorporates modern safety, security, and accuracy features, with a yield tailored for hardened and large-area military targets. The B61-13 is one of seven warhead modernization programs NNSA is executing to ensure the long-term performance and credibility of the U.S. deterrent.

    Secretary Wright’s full remarks:

    It’s an honor to be here on this special day. Every time I hear our national anthem performed, I feel strong emotions. I feel first a sense of gratitude—gratitude for those that came before us and created this nation against all odds, that put their lives on the line and stuck to their principles, no matter what the pressure was. I also feel a sense of pride to be born in this country and to have the great luck to live as an American. The ideas of freedom, liberty, and justice for all—but freedom isn’t free. Freedom isn’t free.

    That national anthem was written over 200 years ago, the last time there were foreign troops on our soil. Most ideas or nations get taken over and they get snuffed out; they lose their way. We’re unique in history, and our nation has not. And that’s only because of the men and women in our country that have stood strong, both on the principles and with the might to defend our borders and to defend our ideals.

    And Pantex and the people of Amarillo have been central to that mission. And I’ll come back to that in a second.

    I bring regards from President Trump, who is incredibly committed to this mission of modernizing our nuclear stockpile as quickly and as efficiently—but as robustly and strongly—as we can.

    He got elected on really a simple principle: that prosperity at home and peace abroad are what America and the world needed. And those go together. A prosperous, strong America is the best way to guarantee peace abroad. A strong, principled America is central to world peace and to the lives of all of us—all our friends, all our families, and all our fellow Americans across the country.

    I have the incredible honor to be in this role. I’ve been an entrepreneur my whole life. The last time I had a boss, I was 19 years old. And then I met a new guy a little more than a year ago at dinner and a very candid dialogue about energy and about our country. And right away, he said, “You should be Secretary of Energy.”

    And then he came to me after the dinner and said, “Would you do it?” I said, if I’m asked to serve my country, there’s only one answer. I didn’t have to think about that one. I did look at my wife that night and she said, “Absolutely, we’re moving to DC. You know, I’m willing.”

    And my wife has been this lifelong partner for me, up for every adventure. So, I’ve been a very, very lucky guy.

    As an entrepreneur, I started a number of businesses, mostly around energy—technology and energy. That’s why I am an energy tech nerd. But I started—I named the last company Liberty Energy, two of my favorite words.

    We have 30-year life expectancy throughout all of human history. 20,000 years ago, before the invention of agriculture, and 200 years ago— there was 30 years of global life expectancy at birth. Today, it’s 73 years. Just a few generations back. Just an incredible transformation.

    What happened? There’s all sorts of history before 200 years ago. What happened? And to me, two fundamental things changed:

    The growth of bottom-up social organization—human liberty. Societies were top-down. Women were property of their husbands, of their fathers. Slavery was endemic across every major society throughout all of history. We didn’t start perfect in those ideals, but America started with a North Star—to bring liberty, not just to our country, to the world. That mission has been not complete, but remarkably, remarkably successful in making the lives we all have.

    And the partner in making that happen was energy. It was this explosion in available energy—from wood. Mostly wood, a little bit of wind, a little bit of water flowing. That’s what powered the world throughout all of human history. And then the arrival of coal and oil and natural gas. And then these derivative energy sources that are only possible because of coal, oil, and natural gas, like nuclear, large-scale hydro, wind, solar—everything else is really derivative of hydrocarbons.

    But those two things changed our world: liberty and energy.

    And I think President Trump realized that both of those were under some threat. We saw a growing movement in our country that maybe free speech and free interchange of ideas—maybe those were out of fashion. They didn’t fit with the world today.

    I think we saw—as we heard from the General earlier—we saw growing threats to our liberty around the world. To us, a rapidly rising China. It’s a huge, huge global threat we haven’t seen in our lifetimes. We’ve seen Russia’s activities and where Russia stands today. And, as we heard, the world has gotten more dangerous.

    We need very much today a strong America. We need a prosperous America to keep peace for our shores and peace abroad, to the extent we can achieve it.

    This community—the Pantex community and the broader Amarillo community—have been central to that for over 80 years. In World War II, much to our surprise with the bombing of Pearl Harbor. Within a few months, this facility was built and started quickly to build armaments to win the war. A war we fought in the Pacific. We fought in the Atlantic—by far the largest conflict in human history.

    You’re a ways away from any danger here from foreign enemies, but they’re there. This community rose up and cranked out armaments to allow our troops around the globe to win that war.

    In that war, we also had a very unique effort for science. That wartime mobilization meant creativity, meant patriotism, and a rushed effort—literally in two and a half years in Los Alamos—we developed nuclear weapons under the gun of both war and the knowledge that Nazi Germany also had a nuclear weapons program. Getting second wasn’t an option.

    But America rose to that challenge. And we developed nuclear weapons, which you learn in school are horrific and terrifying—and they are terrifying. I would say they’re not horrific. They and American strength and resolve have probably been the biggest bringers of peace in the world for 80 years, without any live conflict between major powers.

    There are plenty of wars around the world, and President Trump’s agenda is to bring as many of those conflicts as possible to an end. But your chance of dying from violent death in our generation—and our children’s generation—is the lowest it’s ever been.

    We have the news and we hear about all the conflicts around the world, but because of a strong America, because of an unbowed resolve, we have a much safer—not completely safe—but a much safer and more peaceful world that’s allowed ourselves, our children, our grandchildren to pursue wonderful, dreamy lives.

    But to maintain that, our biggest risk is complacency. That risk is there. And that risk has been mostly at bay because of the strength of our military and the commitment of American leadership, American citizens, and American resolve.

    Pantex is absolutely central to that.

    And there was a brief break from ’45 to ’51, where we won the war, but of course, the Cold War rose quickly. And we understood this feeling of security was very brief.

    The only way we could ensure security was to be the strongest, the most powerful, the most technologically advanced, and the most committed to our values of any nation on Earth.

    Pantex was reinvented as the final assembler, where all roads lead to our nuclear stockpile. This nuclear stockpile has had unbelievably positive effects—not just on the lives of Americans—but on the lives today of 8 billion people in the world that benefit from American strength and American security.

    But the backbone of that strength and security—the ultimate guarantor of the sovereignty of our nation—is our nuclear stockpile.

    You built that stockpile in the ’50s, ’60s, ’70s, and ’80s. Then we went into a more peaceful period. We disassembled some of those weapons—also done by you. We maintained that stockpile and those weapons throughout all that time period.

    And now, with age on those weapons and rising security risks around the world, we’re called to action to modernize multiple weapons systems in our stockpile. Who’s going to lead that effort? The people looking at me in the room right now, and your more than 4,000 other colleagues that are working hard right now to make our country safe and secure.

    I was honored—and a little bit emotional as well—to stamp that B61-13 today. That’s the cutting edge of this weapons stockpile. And amazingly—have you heard of anything today that’s done a year early? Anybody built a house or had a major project or done anything else—showed up to your contractors and they said, “good news is, we’re a year ahead of schedule?”

    I’m not sure I’ve ever heard that in my life. And I know this year in the broader program here, we’re 107% ahead of plan. That’s out of fashion the last few years—everything’s late, over budget, and delayed. But not here. Not in this community. Not in this complex.

    So, I end with a thanks— a thanks from me personally. I’m so proud to be on your team now. I’m here for the count. They’ll take me out in a few years, but I’m pretty motivated to be here and to be in this role.

    A thanks from President Trump. We got him to bring back common sense, strength in America. Resolve in America. We can do big things—and we can do them on time and on budget—because we are responsible to spend the taxpayer money of 340 million Americans.

    Your delivery—early, on budget—and the whole modernization program so far ahead of schedule, a huge warm thank you from President Trump.

    And I’ll end with a thank you for the American people—all the American people. They go to sleep more secure at night, not worried about foreign invaders. They’ve got worries, indeed, but it’s a luxury to worry about other things.

    If you’re worried about your physical security—of you and your kids—nothing else matters. Well, because of your tireless efforts here for generations, you give all Americans a feeling of security. I’ve got things to worry about, but my foreign enemies aren’t one of them.

    God bless you all. Thank you for your tremendous work. I’m proud to be your partner.

    MIL OSI USA News –

  • MIL-OSI Security: Man Charged in Connection with Fraudulent COVID-19 Relief Loan Applications Totaling More than $3.39M

    Source: United States Attorneys General 13

    A Georgia man was arrested today in connection with his role in 15 fraudulent COVID-19 relief loan applications administered by the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program, totaling more than $3.39 million in fraudulent loan proceeds.

    According to court documents, Ian Patrick Jackson, 37, of Atlanta, conspired with another Atlanta man to solicit, recruit, and direct at least nine business owners to submit fraudulent PPP loan applications using fabricated tax documents. Jackson and his co-conspirator allegedly directed the business owners to falsely claim in the loan applications that each business employed 16 individuals and paid monthly wages of $120,000. After receiving the funds, the business owners wrote “payroll” checks to individuals who did not work for their companies and then either kept the money for themselves or gave the money to the co-conspirator, who in turn provided a share to Jackson. 

    Jackson is the 12th defendant to be charged in connection with the Atlanta-based PPP fraud ring that allegedly fraudulently obtained millions in PPP loans. All eleven previously charged defendants, including the nine business owners, have pleaded guilty or been convicted at trial related to $2.7 million in fraudulent PPP loans. To date, authorities have recovered nearly $1.2 million of the stolen money.

    In addition to the charged conspiracy, Jackson is alleged to have participated in three other schemes to submit fraudulent PPP or EIDL applications: (1) He applied for a fraudulent $237,500 PPP loan on behalf of Parkway Media Group LLC using fabricated tax forms and a doctored bank statement; (2) He used a forged driver’s license to fraudulently apply for approximately $100,000 in PPP and EIDL program loans using false revenue statements; and (3) He fraudulently obtained a $240,035 PPP loan and $125,000 in EIDL program loans and grants on behalf of Express Xchange LLC. As alleged in the indictment, he wrote checks made payable to individuals who did not work for the businesses using the loan proceeds. He also allegedly used the loan proceeds to pay for personal expenses, including restaurant dining, spa services, phone and credit card payments, and a vacation in Aruba. 

    Jackson is charged with conspiracy to commit bank fraud, two counts of bank fraud, two counts of wire fraud, and two counts of money laundering. If convicted, he faces a maximum penalty of 30 years in prison on each of the conspiracy and bank fraud counts and 20 years in prison on each of the wire fraud and money laundering counts.  

    Matthew R. Galeotti, Head of the Justice Department’s Criminal Division, U.S. Attorney Theodore S. Hertzberg for the Northern District of Georgia, Deputy Inspector General Sheldon Shoemaker of the Small Business Administration Office of the Inspector General and Special Agent in Charge Paul Brown of the FBI Atlanta Field Office made the announcement.

    The SBA Office of Inspector General and FBI Atlanta Field Office are investigating the case.

    Trial Attorney Matthew Reilly of the Criminal Division’s Fraud Section and Special Assistant U.S. Attorney Diane C. Schulman for the Northern District of Georgia are prosecuting the case.

    Since the inception of the Coronavirus Aid, Relief, and Economic Security Act, the Criminal Division’s Fraud Section has prosecuted over 150 defendants in more than 95 criminal cases and has seized over $75 million in cash proceeds derived from fraudulently obtained PPP funds, as well as numerous real estate properties and luxury items purchased with such proceeds. More information can be found at www.justice.gov/criminal-fraud/ppp-fraud.

    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline via the NCDF Web Complaint Form at www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form. 

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI –

  • MIL-OSI USA: Reconciliation Recommendations of the House Committee on the Judiciary

    Source: US Congressional Budget Office

    Legislation Summary

    H. Con. Res. 14, the Concurrent Resolution on the Budget for Fiscal Year 2025, instructed the House Committee on the Judiciary to recommend legislative changes that would increase deficits up to a specified amount over the 2025-2034 period. As part of the reconciliation process, the House Committee on the Judiciary approved legislation on April 30, 2025, with provisions that would increase deficits.

    Estimated Federal Cost

    The reconciliation recommendations of the House Committee on the Judiciary would increase deficits by $6.9 billion over the 2025-2034 period. The estimated budgetary effects of the legislation are shown in Table 1. The costs of the legislation fall within budget functions 150 (international affairs), 600 (income security), and 750 (administration of justice).

    Return to Reference

    Table 1.

    Estimated Budgetary Effects of Reconciliation Recommendations Title VII, House Committee on the Judiciary, as Ordered Reported on April 30, 2025
     

    By Fiscal Year, Millions of Dollars

    		    
     

    2025

    2026

    2027

    2028

    2029

    2030

    2031

    2032

    2033

    2034

    2025-2029

    2025-2034
     

    Increases or Decreases (-) in Direct Spending

    		    

    Budget Authority

    81,395

    -354

    -667

    -605

    -703

    -789

    -871

    -912

    -990

    -1,113

    79,066

    74,391

    Estimated Outlays

    *

    6,467

    10,273

    15,082

    18,799

    13,657

    8,207

    2,625

    -530

    -1,122

    50,621

    73,458
     

    Increases in Revenues

    		    

    Estimated Revenues

    0

    4,533

    5,916

    6,193

    6,990

    8,004

    8,397

    8,635

    8,872

    9,008

    23,632

    66,548
     

    Net Increase or Decrease (-) in the Deficit

    From Changes in Direct Spending and Revenues

    		    

    Effect on the Deficit

    *

    1,934

    4,357

    8,889

    11,809

    5,653

    -190

    -6,010

    -9,402

    -10,130

    26,989

    6,910

    Basis of Estimate

    For this estimate, CBO assumes that the legislation will be enacted in summer 2025. CBO’s estimates are relative to its January 2025 baseline and cover the period from 2025 through 2034. Outlays of directly appropriated amounts were estimated using historical obligation and spending rates for similar programs. The estimates account for judicial decisions and administrative actions through April 10, 2025.

    Subtitle A. Immigration Matters

    Subtitle A would impose new or modify existing fees on aliens (non-U.S. nationals) seeking benefits under the Immigration and Nationality Act (INA). Under the legislation, a portion of those fees would remain available to certain agencies to spend without further appropriation; the remaining amounts would be deposited in the Treasury. Subtitle A also would directly appropriate $81.4 billion in total to the Department of Health and Human Services (HHS), Department of Homeland Security (DHS), and Department of Justice (DOJ) for increased immigration enforcement and other activities. CBO estimates that enacting subtitle A would increase direct spending outlays by $73.5 billion and increase revenues by $66.5 billion over the 2025-2034 period (see Table 2).

    Part 1. Immigration Fees

    The legislation would impose fees on aliens for undertaking various activities, including applying for or renewing certain travel or work authorization documents, and applying for other benefits under the INA. Under current law, the Department of State adjudicates requests for visas from aliens abroad; U.S. Citizenship and Immigration Services (USCIS) adjudicates requests for benefits under the INA for aliens who are physically present in the United States. Fees also can be assessed by Customs and Border Protection (CBP), for inspections of people at ports of entry, and by the Executive Office of Immigration Review (EOIR), which oversees removal proceedings and adjudicates requests from aliens in immigration court. Under current law, those agencies can charge fees to cover the costs of providing services. Any new fees collected under the legislation would be additional to collections under current law.

    A portion of some fees under the legislation would be made available to the Department of State, CBP, EOIR, HHS, Immigration and Customs Enforcement (ICE), and USCIS; those amounts could be spent without further appropriation. Beginning in 2027, CBO estimates that some of that spending would be subject to sequestration.

    The legislation specifies fee amounts for 2025. In subsequent years, some amounts would increase based on the consumer price index for all urban consumers. The legislation would prohibit any fees from being waived or reduced.

    Indirect taxes and regulatory fees tend to reduce collections of income and payroll taxes. As a result, CBO expects that most of the new fee collections would be partially offset by decreases in tax receipts of about 25 percent of the gross fee collections each year. Unless otherwise noted in the estimates below, that offset is applied to the estimated revenues for each fee.

    CBO’s estimates of the number of people who would pay the fees are based on a January 2025 demographic and economic forecast. Where applicable, those projections were adjusted to account for executive actions and judicial decisions undertaken as of April 10, 2025. Those include ending the use of various categorical parole programs; terminating parole for people who arrived under the Parole Process for Cubans, Haitians, Nicaraguans, and Venezuelans; and terminating the 2023 designation of Temporary Protected Status (TPS) for Venezuelan nationals physically present before October 3, 2023. CBO’s estimates also are based on historical trends in filing volume and recent trends in inflows of other foreign nationals since January 2025. Where applicable, CBO’s estimates also account for applicants’ and petitioners’ responses to the fees that would be imposed under the legislation.

    Asylum Fee. Section 70002 would impose a $1,000 fee on aliens applying for asylum. CBO estimates that about 4 million people will apply for asylum over the 2025-2034 period, increasing revenues by $2.3 billion under this section for the same period. Some of those fees would be made available to EOIR and USCIS to retain and spend without further appropriation. CBO estimates that the provision would increase outlays by $1.5 billion over the 2025-2034 period. On net, CBO estimates that enacting this section would decrease the deficit by $784 million over the 2025-2034 period. (Under current law, aliens in removal proceedings can file defensive asylum applications with EOIR; others can file affirmative asylum applications with USCIS. Under this provision, 50 percent of the fees collected from defensive asylum applications would be made available to EOIR and 50 percent of the fees collected from affirmative asylum applications would be made available to USCIS.)

    Employment Authorization Document Fees. Section 70003 would impose a $550 fee on certain aliens applying for initial work authorization. The fee would apply to asylum applicants, parolees, and people granted TPS. Of the fees collected from asylum applicants, 25 percent would be made available to USCIS to retain and spend without further appropriation.

    CBO estimates that about 3 million asylum applicants, 225,000 parolees, and fewer than 1,000 TPS beneficiaries will apply for initial work authorization over the 2025-2034 period, increasing revenues under this provision by $1.4 billion over the same period. CBO also estimates that the provision would increase outlays by $413 million over the 2025‑2034 period. On net, CBO estimates that enacting the provision would decrease Erich Dvorak (for nonimmigration matters)

    Estimate Reviewed By

    Elizabeth Cove Delisle
    Chief, Income Security Cost Estimates Unit

    Ann E. Futrell
    Acting Chief, Natural and Physical Resources Cost Estimates Unit

    Justin Humphrey
    Chief, Finance, Housing, and Education Cost Estimates Unit

    Joshua Shakin
    Chief, Revenue Projections Unit

    Kathleen FitzGerald 
    Chief, Public and Private Mandates Unit

    Christina Hawley Anthony
    Deputy Director of Budget Analysis

    H. Samuel Papenfuss 
    Deputy Director of Budget Analysis

    Chad Chirico 
    Director of Budget Analysis

    Phillip L. Swagel

    Director, Congressional Budget Office

    [Table 2 begins on the next page.]

    Authorization Document Fees

                       

    Budget Authority

    0

    77

    63

    54

    47

    42

    39

    38

    37

    35

    241

    432

    Estimated Outlays

    0

    50

    62

    57

    50

    44

    40

    38

    36

    36

    219

    413

    Sec. 70007, Unaccompanied 
    Alien Child Sponsor Fee

                       

    Budget Authority

    0

    23

    24

    18

    17

    18

    18

    18

    19

    19

    82

    174

    Estimated Outlays

    0

    12

    21

    20

    18

    18

    18

    18

    19

    19

    71

    163

    Sec. 70009, Form I-94 Fee

                       

    Budget Authority

    0

    -702

    -1,012

    -1,063

    -1,131

    -1,204

    -1,283

    -1,355

    -1,442

    -1,544

    -3,908

    -10,736

    Estimated Outlays

    0

    -746

    -1,016

    -1,066

    -1,135

    -1,208

    -1,287

    -1,369

    -1,457

    -1,550

    -3,963

    -10,834

    Sec. 70015, Diversity Immigrant 
    Visa Fees

                       

    Budget Authority

    0

    143

    137

    149

    152

    155

    158

    166

    170

    169

    581

    1,399

    Estimated Outlays

    0

    71

    108

    143

    150

    153

    156

    159

    163

    166

    472

    1,269

    Sec. 70016, EOIR Fees

                       

    Budget Authority

    0

    28

    37

    40

    40

    41

    43

    45

    46

    46

    145

    366

    Estimated Outlays

    0

    18

    30

    37

    40

    41

    43

    43

    44

    45

    125

    341

    Sec. 70017, ESTA Fee

                       

    Budget Authority

    0

    -80

    -10

    116

    123

    129

    136

    146

    155

    159

    149

    874

    Estimated Outlays

    0

    -26

    -38

    15

    80

    123

    130

    136

    144

    152

    31

    716

    Sec. 70018, Immigration User Fees

                       

    Budget Authority

    0

    -96

    -152

    -132

    -134

    -137

    -140

    -128

    -131

    -148

    -514

    -1,198

    Estimated Outlays

    0

    -194

    -174

    -140

    -137

    -139

    -142

    -145

    -148

    -151

    -645

    -1,370

    Sec. 70019, EVUS Fee

                       

    Budget Authority

    0

    11

    14

    15

    16

    17

    18

    19

    20

    20

    56

    150

    Estimated Outlays

    0

    2

    10

    14

    15

    16

    17

    18

    18

    19

    41

    129

                         

    (Continued)

    Table 2.

    Estimated Changes in Direct Spending and Revenues Under Reconciliation Recommendations Title VII, House Committee on the Judiciary, as Ordered Reported on April 30, 2025

    (Continued)
     

    By Fiscal Year, Millions of Dollars

    		    
     

    2025

    2026

    2027

    2028

    2029

    2030

    2031

    2032

    2033

    2034

    2025-2029

    2025-2034
     

    Increases or Decreases (-) in Direct Spending

    		    

    Part 2. Use of Funds

    		                        

    Sec. 70100, Executive Office for Immigration Review

    		                      

    Budget Authority

    1,250

    0

    0

    0

    0

    0

    0

    0

    0

    0

    1,250

    1,250

    Estimated Outlays

    *

    47

    153

    322

    553

    144

    31

    0

    0

    0

    1,075

    1,250

    Sec. 70101, Adult Alien Detention Capacity and Family Residential Centers

    		                    

    Budget Authority

    45,000

    0

    0

    0

    0

    0

    0

    0

    0

    0

    45,000

    45,000

    Estimated Outlays

    *

    4,000

    6,900

    9,550

    11,500

    7,050

    4,200

    1,800

    0

    0

    31,950

    45,000

    Sec. 70102, Retention and Signing Bonuses 
    for U.S. Immigration and Customs Enforcement Personnel

    		                    

    Budget Authority

    858

    0

    0

    0

    0

    0

    0

    0

    0

    0

    858

    858

    Estimated Outlays

    *

    77

    86

    101

    126

    206

    238

    24

    0

    0

    390

    858

    Sec. 70103, Hiring of Additional 
    U.S. Immigration and Customs Enforcement 
    Personnel

    		                  

    Budget Authority

    8,000

    0

    0

    0

    0

    0

    0

    0

    0

    0

    8,000

    8,000

    Estimated Outlays

    *

    320

    700

    1,100

    1,500

    2,220

    1,720

    360

    80

    0

    3,620

    8,000

    Sec. 70104, U.S. Immigration and Customs Enforcement Hiring Capability

    		                    

    Budget Authority

    600

    0

    0

    0

    0

    0

    0

    0

    0

    0

    600

    600

    Estimated Outlays

    *

    390

    120

    90

    0

    0

    0

    0

    0

    0

    600

    600

    Sec. 70105, Transportation and 
    Removal Operations

    		                  

    Budget Authority

    14,400

    0

    0

    0

    0

    0

    0

    0

    0

    0

    14,400

    14,400

    Estimated Outlays

    *

    625

    1,561

    2,538

    3,575

    3,068

    1,853

    935

    245

    0

    8,299

    14,400

    Sec. 70106, Information 
    Technology Investments

    		                  

    Budget Authority

    700

    0

    0

    0

    0

    0

    0

    0

    0

    0

    700

    700

    Estimated Outlays

    *

    7

    40

    84

    160

    196

    115

    70

    28

    0

    291

    700

    Sec. 70107, Facilities Upgrades

    		                    

    Budget Authority

    550

    0

    0

    0

    0

    0

    0

    0

    0

    0

    550

    550

    Estimated Outlays

    *

    6

    30

    66

    128

    154

    92

    52

    22

    0

    230

    550

    Sec. 70108, Fleet Modernization

    		                    

    Budget Authority

    250

    0

    0

    0

    0

    0

    0

    0

    0

    0

    250

    250

    Estimated Outlays

    *

    20

    44

    70

    69

    35

    12

    0

    0

    0

    203

    250

    Sec. 70109, Promoting Family Unity

    		                    

    Budget Authority

    20

    0

    0

    0

    0

    0

    0

    0

    0

    0

    20

    20

    Estimated Outlays

    *

    16

    3

    1

    0

    0

    0

    0

    0

    0

    20

    20
                         

    (Continued)

    Table 2.

    Estimated Changes in Direct Spending and Revenues Under Reconciliation Recommendations Title VII, House Committee on the Judiciary, as Ordered Reported on April 30, 2025

    (Continued)
     

    By Fiscal Year, Millions of Dollars

    		    
     

    2025

    2026

    2027

    2028

    2029

    2030

    2031

    2032

    2033

    2034

    2025-2029

    2025-2034
     

    Increases or Decreases (-) in Direct Spending

    		    

    Sec. 70110, Funding Section 287(G) of the Immigration and Nationality Act

    		                    

    Budget Authority

    650

    0

    0

    0

    0

    0

    0

    0

    0

    0

    650

    650

    Estimated Outlays

    *

    50

    105

    165

    190

    100

    40

    0

    0

    0

    510

    650

    Sec. 70111, Compensation for Incarceration of Criminal Aliens

    		                      

    Budget Authority

    950

    0

    0

    0

    0

    0

    0

    0

    0

    0

    950

    950

    Estimated Outlays

    *

    9

    142

    285

    256

    190

    29

    19

    10

    10

    692

    950

    Sec. 70112, Office of the 
    Principal Legal Advisor

    		                  

    Budget Authority

    1,320

    0

    0

    0

    0

    0

    0

    0

    0

    0

    1,320

    1,320

    Estimated Outlays

    *

    56

    115

    183

    245

    369

    281

    59

    12

    0

    599

    1,320

    Sec. 70113, Return of Aliens Arriving From Contiguous Territory

    		                    

    Budget Authority

    500

    0

    0

    0

    0

    0

    0

    0

    0

    0

    500

    500

    Estimated Outlays

    *

    275

    150

    75

    0

    0

    0

    0

    0

    0

    500

    500

    Sec. 70114, State and Local Participation in Homeland Security Efforts

    		                    

    Budget Authority

    787

    0

    0

    0

    0

    0

    0

    0

    0

    0

    787

    787

    Estimated Outlays

    *

    394

    236

    157

    0

    0

    0

    0

    0

    0

    787

    787

    Sec. 70115, Unaccompanied Alien 
    Children Capacity

    		                  

    Budget Authority

    3,000

    0

    0

    0

    0

    0

    0

    0

    0

    0

    3,000

    3,000

    Estimated Outlays

    *

    90

    180

    450

    600

    600

    450

    270

    120

    0

    1,320

    2,760

    Sec. 70116, Department of Homeland Security Criminal and Gang Checks for Unaccompanied Alien Children

    		                    

    Budget Authority

    20

    0

    0

    0

    0

    0

    0

    0

    0

    0

    20

    20

    Estimated Outlays

    *

    16

    3

    1

    0

    0

    0

    0

    0

    0

    20

    20

    Sec. 70117, Department of Health and Human Services Criminal and Gang Checks for Unaccompanied Alien Children

    		                    

    Budget Authority

    20

    0

    0

    0

    0

    0

    0

    0

    0

    0

    20

    20

    Estimated Outlays

    *

    4

    6

    6

    4

    0

    0

    0

    0

    0

    20

    20

    Sec. 70118, Information about Sponsors and Adult Residents of Sponsor Households

    		                  

    Budget Authority

    50

    0

    0

    0

    0

    0

    0

    0

    0

    0

    50

    50

    Estimated Outlays

    *

    10

    15

    15

    10

    0

    0

    0

    0

    0

    50

    50
                         

    (Continued)

    Table 2.

    Estimated Changes in Direct Spending and Revenues Under Reconciliation Recommendations Title VII, House Committee on the Judiciary, as Ordered Reported on April 30, 2025

    (Continued)
     

    By Fiscal Year, Millions of Dollars

    		    
     

    2025

    2026

    2027

    2028

    2029

    2030

    2031

    2032

    2033

    2034

    2025-2029

    2025-2034
     

    Increases or Decreases (-) in Direct Spending

    		    

    Sec. 70119, Repatriation of 
    Unaccompanied Alien Children

    		                    

    Budget Authority

    100

    0

    0

    0

    0

    0

    0

    0

    0

    0

    100

    100

    Estimated Outlays

    *

    80

    15

    5

    0

    0

    0

    0

    0

    0

    100

    100

    Sec. 70120, United States 
    Secret Service

    		                    

    Budget Authority

    1,170

    0

    0

    0

    0

    0

    0

    0

    0

    0

    1,170

    1,170

    Estimated Outlays

    *

    61

    188

    333

    469

    94

    25

    0

    0

    0

    1,051

    1,170

    Sec. 70121, Combating Drug 
    Trafficking and Illegal Drug Use

    		                    

    Budget Authority

    500

    0

    0

    0

    0

    0

    0

    0

    0

    0

    500

    500

    Estimated Outlays

    *

    350

    100

    50

    0

    0

    0

    0

    0

    0

    500

    500

    Sec. 70122, Investigating and Prosecuting Immigration Related Matters

    		                    

    Budget Authority

    600

    0

    0

    0

    0

    0

    0

    0

    0

    0

    600

    600

    Estimated Outlays

    *

    128

    150

    150

    150

    22

    0

    0

    0

    0

    578

    600

    Sec. 70123, Expedited Removal for 
    Criminal Aliens

    		                  

    Budget Authority

    75

    0

    0

    0

    0

    0

    0

    0

    0

    0

    75

    75

    Estimated Outlays

    *

    60

    11

    4

    0

    0

    0

    0

    0

    0

    75

    75

    Sec. 70124, Removal of Certain Criminal 
    Aliens Without Further Hearing

    		                    

    Budget Authority

    25

    0

    0

    0

    0

    0

    0

    0

    0

    0

    25

    25

    Estimated Outlays

    *

    20

    4

    1

    0

    0

    0

    0

    0

    0

    25

    25

    Subtitle C. Other Matters

    		                        

    Sec. 70300, Limitation on Donations Made Pursuant to Settlement Agreements to Which the United States Is a Party

    		                    

    Budget Authority

    a

    a

    a

    a

    a

    a

    a

    a

    a

    a

    a

    a

    Estimated Outlays

    a

    a

    a

    a

    a

    a

    a

    a

    a

    a

    a

    a

    Total Changes

    		                        

    Budget Authority

    81,395

    -354

    -667

    -605

    -703

    -789

    -871

    -912

    -990

    -1,113

    79,066

    74,391

    Estimated Outlays

    *

    6,467

    10,273

    15,082

    18,799

    13,657

    8,207

    2,625

    -530

    -1,122

    50,621

    73,458
                         

    (Continued)

    Table 2.

    Estimated Changes in Direct Spending and Revenues Under Reconciliation Recommendations Title VII, House Committee on the Judiciary, as Ordered Reported on April 30, 2025

    (Continued)
     

    By Fiscal Year, Millions of Dollars

    		    
     

    2025

    2026

    2027

    2028

    2029

    2030

    2031

    2032

    2033

    2034

    2025-2029

    2025-2034
     

    Increases and Decreases (-) in Revenues

    		    

    Subtitle A. Immigration Matters

    		                      

    Part 1. Immigration Fees

    		                        

    Sec. 70002, Asylum Fee

    		                    

    Estimated Revenues

    0

    356

    361

    287

    244

    219

    206

    198

    195

    194

    1,248

    2,260

    Sec. 70003, Employment Authorization Document Fees

    		                      

    Estimated Revenues

    0

    234

    205

    167

    148

    134

    125

    120

    118

    116

    754

    1,367

    Sec. 70004, Parole Fee

    		                    

    Estimated Revenues

    0

    4

    5

    5

    5

    6

    6

    6

    6

    6

    19

    49

    Sec. 70005, Special Immigrant 
    Juvenile Fee

    		                    

    Estimated Revenues

    0

    2

    2

    2

    2

    2

    2

    2

    2

    2

    8

    18

    Sec. 70006, Temporary Protected 
    Status Fee

    		                    

    Estimated Revenues

    0

    126

    212

    154

    155

    209

    142

    162

    205

    139

    647

    1,504

    Sec. 70007, Unaccompanied 
    Alien Child Sponsor Fee

    		                    

    Estimated Revenues

    0

    68

    69

    53

    51

    52

    53

    54

    56

    57

    241

    513

    Sec. 70008, Visa Integrity Fee

    		                    

    Estimated Revenues

    0

    2,154

    2,992

    3,115

    3,080

    3,216

    3,355

    3,499

    3,646

    3,798

    11,341

    28,855

    Sec. 70010, Yearly Asylum Fee

    		                    

    Estimated Revenues

    0

    0

    0

    0

    61

    118

    231

    231

    233

    237

    61

    1,111

    Sec. 70011, Fee for Continuances Granted in Immigration Court Proceedings

    		                    

    Estimated Revenues

    0

    30

    41

    42

    43

    44

    45

    46

    47

    48

    156

    386

    Sec. 70012, Fee Relating to Renewal and Extension of Employment Authorization for Parolees

    		                    

    Estimated Revenues

    0

    *

    *

    *

    *

    *

    *

    *

    *

    *

    *

    *

    Sec. 70013, Fee Relating to Termination, Renewal, and Extension of Employment Authorization for Asylum Applicants

    		                  

    Estimated Revenues

    0

    313

    489

    622

    1,462

    1,984

    2,155

    2,200

    2,205

    2,211

    2,886

    13,641

    Sec. 70014, Fee Relating to Renewal and Extension of Employment Authorization for Aliens Granted Temporary Protected Status

    		                  

    Estimated Revenues

    0

    229

    364

    549

    546

    543

    538

    534

    531

    526

    1,688

    4,360
                         

    (Continued)

    Table 2.

    Estimated Changes in Direct Spending and Revenues Under Reconciliation Recommendations Title VII, House Committee on the Judiciary, as Ordered Reported on April 30, 2025

    (Continued)
     

    By Fiscal Year, Millions of Dollars

    		    
     

    2025

    2026

    2027

    2028

    2029

    2030

    2031

    2032

    2033

    2034

    2025-2029

    2025-2034
     

    Increases and Decreases (-) in Revenues

    		    

    Sec. 70015, Diversity Immigrant 
    Visa Fees

    		                    

    Estimated Revenues

    0

    703

    717

    734

    750

    766

    783

    800

    817

    835

    2,904

    6,905

    Sec. 70016, EOIR Fees

    		                    

    Estimated Revenues

    0

    76

    104

    107

    109

    112

    114

    116

    118

    121

    396

    977

    Sec. 70017, ESTA Fee

    		                    

    Estimated Revenues

    0

    0

    208

    288

    299

    571

    592

    603

    626

    648

    795

    3,835

    Sec. 70019, EVUS Fee

    		                    

    Estimated Revenues

    0

    13

    18

    18

    19

    20

    21

    22

    23

    24

    68

    178

    Sec. 70020, Fee for Sponsor of Unaccompanied Alien Child who Fails to Appear in Immigration Court

    		                    

    Estimated Revenues

    0

    210

    110

    30

    -5

    -15

    5

    15

    15

    15

    345

    380

    Sec. 70021, Fee for Aliens Ordered 
    Removed in Absentia

    		                    

    Estimated Revenues

    0

    10

    13

    13

    14

    14

    14

    15

    15

    15

    50

    123

    Sec. 70022, Customs and Border Protection Inadmissible Alien Apprehension Fee

    		                    

    Estimated Revenues

    0

    5

    6

    7

    7

    9

    10

    12

    14

    16

    25

    86

    Subtitle C. Other Matters

    		                        

    Sec. 70300, Limitation on Donations Made Pursuant to Settlement Agreements to Which the United States Is a Party

    		                    

    Estimated Revenues

    a

    a

    a

    a

    a

    a

    a

    a

    a

    a

    a

    a

    Total Changes

    		                        

    Estimated Revenues

    0

    4,533

    5,916

    6,193

    6,990

    8,004

    8,397

    8,635

    8,872

    9,008

    23,632

    66,548
     

    Net Increase or Decrease (-) in the Deficit

    From Changes in Direct Spending and Revenues

    		    

    Effect on the Deficit

    0

    1,934

    4,357

    8,889

    11,809

    5,653

    -190

    -6,010

    -9,402

    -10,130

    26,989

    6,910

    a. CBO has no basis on which to estimate the direction or magnitude of the changes in direct spending and revenues or the effect on the deficit that would stem from the enactment of section 70300.

    MIL OSI USA News –

  • MIL-OSI USA: Man Charged in Connection with Fraudulent COVID-19 Relief Loan Applications Totaling More than $3.39M

    Source: US State Government of Utah

    A Georgia man was arrested today in connection with his role in 15 fraudulent COVID-19 relief loan applications administered by the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) program, totaling more than $3.39 million in fraudulent loan proceeds.

    According to court documents, Ian Patrick Jackson, 37, of Atlanta, conspired with another Atlanta man to solicit, recruit, and direct at least nine business owners to submit fraudulent PPP loan applications using fabricated tax documents. Jackson and his co-conspirator allegedly directed the business owners to falsely claim in the loan applications that each business employed 16 individuals and paid monthly wages of $120,000. After receiving the funds, the business owners wrote “payroll” checks to individuals who did not work for their companies and then either kept the money for themselves or gave the money to the co-conspirator, who in turn provided a share to Jackson. 

    Jackson is the 12th defendant to be charged in connection with the Atlanta-based PPP fraud ring that allegedly fraudulently obtained millions in PPP loans. All eleven previously charged defendants, including the nine business owners, have pleaded guilty or been convicted at trial related to $2.7 million in fraudulent PPP loans. To date, authorities have recovered nearly $1.2 million of the stolen money.

    In addition to the charged conspiracy, Jackson is alleged to have participated in three other schemes to submit fraudulent PPP or EIDL applications: (1) He applied for a fraudulent $237,500 PPP loan on behalf of Parkway Media Group LLC using fabricated tax forms and a doctored bank statement; (2) He used a forged driver’s license to fraudulently apply for approximately $100,000 in PPP and EIDL program loans using false revenue statements; and (3) He fraudulently obtained a $240,035 PPP loan and $125,000 in EIDL program loans and grants on behalf of Express Xchange LLC. As alleged in the indictment, he wrote checks made payable to individuals who did not work for the businesses using the loan proceeds. He also allegedly used the loan proceeds to pay for personal expenses, including restaurant dining, spa services, phone and credit card payments, and a vacation in Aruba. 

    Jackson is charged with conspiracy to commit bank fraud, two counts of bank fraud, two counts of wire fraud, and two counts of money laundering. If convicted, he faces a maximum penalty of 30 years in prison on each of the conspiracy and bank fraud counts and 20 years in prison on each of the wire fraud and money laundering counts.  

    Matthew R. Galeotti, Head of the Justice Department’s Criminal Division, U.S. Attorney Theodore S. Hertzberg for the Northern District of Georgia, Deputy Inspector General Sheldon Shoemaker of the Small Business Administration Office of the Inspector General and Special Agent in Charge Paul Brown of the FBI Atlanta Field Office made the announcement.

    The SBA Office of Inspector General and FBI Atlanta Field Office are investigating the case.

    Trial Attorney Matthew Reilly of the Criminal Division’s Fraud Section and Special Assistant U.S. Attorney Diane C. Schulman for the Northern District of Georgia are prosecuting the case.

    Since the inception of the Coronavirus Aid, Relief, and Economic Security Act, the Criminal Division’s Fraud Section has prosecuted over 150 defendants in more than 95 criminal cases and has seized over $75 million in cash proceeds derived from fraudulently obtained PPP funds, as well as numerous real estate properties and luxury items purchased with such proceeds. More information can be found at www.justice.gov/criminal-fraud/ppp-fraud.

    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline via the NCDF Web Complaint Form at www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form. 

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL OSI USA News –

  • MIL-OSI Russia: China urges US to lift discriminatory measures /more details/

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

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

    BEIJING, May 19 (Xinhua) — China’s Ministry of Commerce on Monday condemned the United States for abusing export controls on Chinese chips, calling on the U.S. side to immediately correct its wrong actions and lift discriminatory measures against China.

    Commenting on the revised US statement on Chinese chips, a Commerce Department spokesman said it was still discriminatory in nature and market-distorting.

    The United States is abusing export controls and imposing tougher restrictions on Chinese chips based on baseless accusations, the official said, stressing that China firmly opposes such unilateral bullying.

    According to him, the US actions seriously violate the legitimate rights and interests of Chinese companies, threaten the security and stability of global supply chains in the semiconductor industry, and deal a serious blow to global scientific and technological innovation.

    The official called on the US side to cooperate with China to maintain the consensus reached at the high-level talks in Geneva and promote the building of sustainable, long-term and mutually beneficial bilateral trade and economic relations.

    If the US continues to cause significant damage to China, the Chinese side will take decisive measures to protect its legitimate rights and interests, the official representative promised. –0–

    MIL OSI Russia News –

  • MIL-OSI: Wen Acquisition Corp Completes $300,150,000 Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, May 19, 2025 (GLOBE NEWSWIRE) — Wen Acquisition Corp (the “Company”) announced today the closing of its initial public offering of 30,015,000 units, which includes 3,915,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full. The offering was priced at $10.00 per unit, resulting in gross proceeds of $300,150,000. The Company’s units began trading on May 16, 2025 on The Nasdaq Global Stock Market LLC (“Nasdaq”) under the ticker symbol “WENNU.” Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share of the Company at an exercise price of $11.50 per share, subject to certain adjustment. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities constituting the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on Nasdaq under the symbols “WENN” and “WENNW,” respectively. Of the proceeds received from the consummation of the initial public offering (including the exercise of the over-allotment option) and a simultaneous private placement of warrants, $300,150,000 (or $10.00 per unit sold in the offering) was placed in trust.

    The Company 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 acquisition opportunity in any business or industry or at any stage of its corporate evolution. The Company’s primary focus, however, will be on infrastructure companies in the financial technology (“fintech”) sector that are focused on enablement of digital assets, such as stablecoins, through the incorporation and integration of blockchain networks into the traditional financial systems.

    The Company’s management team is led by Julian M. Sevillano, its Chief Executive Officer and Chairman of the Board of Directors (the “Board”), and Jurgen van de Vyver, its Chief Financial Officer. The Board also includes Josh Fried, Co-Vice Chairman of the Board, Sheraz Shere, Co-Vice Chairman of the Board, and Drew Glover.

    Cantor Fitzgerald & Co. acted as sole book-running manager for the offering.

    A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on May 15, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    Forward-Looking Statements

    This press release contains statements that constitute “forward-looking statements.” No assurance can be given that the net proceeds of the offering will be used as indicated.

    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. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    Investor Contacts

    Wen Acquisition Corp
    Jurgen van de Vyver
    jurgen@launchpad.vc
    510-200-8778

    The MIL Network –

  • MIL-OSI USA: PRESS RELEASE: Rep. Barragán Sounds Alarm in Marathon Energy and Commerce Committee Markup Over Republican Plans to Take Health Care Away from Millions of Americans

    Source: United States House of Representatives – Representative Nanette Diaz Barragán (CA-44)

    FOR IMMEDIATE RELEASE
    May 17, 2025

    Contact: Jin.Choi@mail.house.gov

    Rep. Barragán Sounds Alarm in Marathon Energy and Commerce Committee Markup Over Republican Plans to Take Health Care Away from Millions of Americans 

    Washington, D.C. – After a 26-hour markup this week, House Republicans on the Energy and Commerce Committee advanced their piece of Donald Trump’s budget reconciliation plan — with no Democratic votes. The bill slashes $715 billion from Medicaid and other critical health care programs — combined with the provisions passed by the Ways & Means Committee this week and a proposed regulation from the Trump Administration, 13.7 million Americans now stand to lose their health care.  

    “This bill is nothing short of an assault on the health care of working families, children, seniors, and people with disabilities,” said Rep. Barragán. “The Republican reconciliation bill, along with the actions of the Trump Administration and Republicans’ failure to extend the Affordable Care Act subsidies, will cause almost 14 million people to lose their health care. Republicans forced us to debate this bill in the dead of night, when they knew most Americans would not see their attempt to take health care away from millions of people. House Democrats will continue to fight this bill and make sure all Americans know that these painful cuts to essential services and programs are so that Republicans can give even larger tax breaks to their billionaire donors.”

    Throughout the marathon markup, Rep. Barragán and Democratic Committee Members introduced amendments to reverse, blunt, or improve upon the harms of the bill, which Republicans, as a whole, rejected. This bill will now be combined with the Republican reconciliation bills that have passed out of other House committees for full House consideration.

    The approved bill text includes harmful provisions that will: 

    • Make it harder for people to enroll and keep their health coverage:
      • Burdensome new paperwork for Medicaid enrollees, designed to reduce access — not improve care.
      • Barriers to enrolling and renewing coverage for people on Medicaid and the Children’s Health Insurance Program (CHIP).
      • Shortened enrollment period for Affordable Care Act (ACA) marketplace coverage, reducing time to sign up.
    • Make it more expensive to access care:
      • New copays for Medicaid recipients.
      • New fees and documentation requirements for people seeking ACA subsidies.
      • Barriers to programs that help low-income seniors on both Medicare and Medicaid afford health care.
    • Decrease access to high-quality, affordable care for hospitals, community health centers, nursing homes, and at-home services:
      • Delays implementation of nursing home minimum staffing standards, putting elderly residents at risk.
      • Restricts states’ use of provider taxes, which support payments to health care providers and expansion of covered services.  
      • Cuts federal Medicaid support for states that use their own funds to cover undocumented immigrants.

    Beyond health care, the bill also includes sweeping attacks on environmental protections, clean energy investments, and telecommunications infrastructure:

    • Guts clean energy and environmental investments — including pollution reduction programs in schools and low-income communities.
    • Lets fossil fuel companies pay to bypass safeguards, including a $1 million fee to fast-track LNG exports and $10 million to expedite pipeline permitting.
    • Raises $88 billion through a spectrum auction and diverts those funds to tax cuts for billionaires, rather than investments in internet affordability and NextGen 911.

    The legislation now moves to the House floor, where it will be considered as part of the broader Republican budget reconciliation package.

    # # #

    MIL OSI USA News –

  • MIL-OSI USA: PRESS RELEASE: Rep. Barragán Brings Guest from New Jersey Republican Congressman’s District to Demand Republicans Vote Against Cuts to Medicaid

    Source: United States House of Representatives – Representative Nanette Diaz Barragán (CA-44)

    FOR IMMEDIATE RELEASE
    May 13, 2025

    Contact: Jin.Choi@mail.house.gov

    Rep. Barragán Brings Guest from New Jersey Republican Congressman’s District to Demand Republicans Vote Against Cuts to Medicaid

    Washington D.C. — Today, Congresswoman Nanette Barragán (CA-44) brought a guest from Republican Congressman Tom Kean’s (R-NJ-07) district to speak out against the cruel Republican cuts to Medicaid in the House Energy and Commerce (E&C) Committee’s mark-up on their portion of the partisan reconciliation bill. In her opening remarks, Congresswoman Barragán shared the story of Sasha, a young constituent from Rep. Kean’s district, who was born with cerebral palsy. Since birth, Sasha has experienced grand mal seizures and is a survivor of a perinatal stroke. Medicaid has helped Sasha access the care and support services she needs to survive — and thrive as a college student and Special Olympics athlete. Congresswoman Barragán shared Sasha’s story with Rep. Kean and asked him to oppose the Republicans’ proposed reconciliation bill that has at least $715 billion in cuts to Medicaid and health care. Rep. Kean, who also sits on the Energy and Commerce Committee, has over 70,000 constituents in his district who currently rely on Medicaid, like Sasha.

    During today’s E&C mark-up session, House Democrats will offer amendments to the House Republicans’ budget to protect Medicaid and highlight the harm of the Republican cuts. If Republicans refuse to support these amendments, their cuts to Medicaid and healthcare of at least $715 billion— the largest proposed cut to Medicaid in U.S. history — would kick at least 13.7 million Americans off their health insurance. 

    “House Republicans have the opportunity to make things right — so that the millions of Americans like Sasha who depend on Medicaid can continue to have access to the basic right of healthcare,” said Rep. Barragán. “Sasha, and the millions of Americans who see Medicaid as a lifeline, are real human beings whose lives will be devastated by these cuts, not just numbers on a page. House Democrats are committed to doing what House Republicans seem too afraid to do — listening to the stories of their constituents and amplifying them so that we can defeat these dangerous Medicaid cuts.” 

    “Thanks to Medicaid, I have been able to live an active and full life, going to college and even competing as a Special Olympics athlete. I’m speaking out because no one should have to fight this hard just to get the care they need to live. I ask that our Members of Congress remember that Medicaid provides essential support for millions of Americans across the country, and to please stand against any cuts to the program,” said Sasha, guest and constituent from Rep. Kean’s district.

    To see Sasha’s original story submission, see here. 

    To tune into the livestream of the mark-up, click here. 

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Public input needed for proposed detours for future fish barrier removal near Poulsbo, Silverdale

    Source: Washington State News 2

    People who use SR 307 and SR 308 are invited to give feedback during open house events 

    POULSBO – The Washington State Department of Transportation is seeking feedback on several fish barrier removal projects in Kitsap County during an online open house and two in-person open houses. 

    Starting in 2027, WSDOT will correct six fish passage barriers under Bond Road/State Route 307 and SR 308. 

    WSDOT is proposing to close the roadway at each location. During the work, a section of the roadway will be removed, and replaced with a fish-passable culvert or bridge. While the road is closed, signed detours will be provided.

    The open houses are an opportunity for the public to provide input on these detours.

    Kitsap 29 Fish Barrier Removal online open house

    When:   Now through Thursday, June 26
    Where:  engage.wsdot.wa.gov/kitsap-29-fish-barrier-removal/
    Details:  Information is available online 24/7 for people to visit and leave comments whenever best fits their schedule. 

    Kitsap 29 Fish Barrier Removal in-person open houses

    When:  4 to 6 p.m. Monday, June 2, 2025
    Where:  North Kitsap High School Commons
    1780 NE Hostmark St. Poulsbo, WA 98370

    When: 5 to 7 p.m. Thursday, June 5, 2025 
    Where: Hilder Pearson Elementary School Gym
    15650 Central Valley Road NW, Poulsbo, WA 98370

    Details:  The in-person open house will have the same information as the online open house. Project team members will be available to explain the project, answer questions and take comments. A translator fluent in Spanish will be present. There is no formal presentation. Attendees are welcome to drop by anytime during the two-hour event.

    Free, temporary internet access is available to those who do not have broadband service. To find the nearest Drive-In WiFi Hotspot visit the Department of Commerce website.

    Free WiFi access is available at these locations for people who wish to participate in the online open house:

    • Kitsap Regional Library, 700 NE Lincoln Road, Poulsbo, WA 98370
    • Kitsap Regional Library, 3650 NW Anderson Hill Road, Suite 101, Silverdale, WA 98383

    MIL OSI USA News –

  • MIL-OSI Security: Former Contractor of USAID-Funded Program Extradited to the United States, Convicted and Sentenced for Conspiracy to Obtain Grant Money Through Fraud

    Source: Office of United States Attorneys

                WASHINGTON— Stephen Paul Edmund Sutton, 53, a United Kingdom citizen, pleaded guilty and was sentenced today for his participation in a fraud scheme, perpetrated when he was employed by a  contracting firm that implemented a U.S. Agency for International Development-funded (USAID) power distribution program (PDP) in Pakistan, announced U.S. Attorney Jeanine Ferris Pirro and Acting Assistant Inspector General for Investigations Sean Bottary.

                Sutton pleaded guilty to conspiring to commit theft concerning a program receiving federal funds, which is a felony. In his role as a Logistics Operations Manager, Sutton took kickbacks of USAID-funds used to pay for the services rendered. After fighting extradition for more than two years, Sutton was extradited to the United States. District Court Judge Amit P. Mehta sentenced Sutton to time-served and ordered that Sutton be turned over to immigration authorities.

                He pleaded guilty to one count of conspiracy to commit theft concerning a program receiving federal funds. He was sentenced to time-served and one day of supervised release.

                According to court documents, PDP was a component of U.S. government assistance to the government of Pakistan to support its energy sector. Launched in September 2010, the five-year program was designed to facilitate improvements in Pakistan’s government-owned electric power distribution companies through interventions and projects addressing governance issues, technical and non-technical losses, and low revenue collection. The main goal of the PDP was to improve the commercial performance of the participating distribution companies through technology upgrades and improvements in processes, procedures, and practices, as well as training and capacity building. Under the PDP contract, Sutton’s employer subcontracted through purchase orders with vendors in Pakistan for certain goods and services.

                From May through November 2015, Sutton and his co-conspirator, an employee supervised by Sutton, participated in a kickback scheme by creating two companies, obtaining PDP purchase orders for forklift and crane services for the companies, and distributing the profits to themselves. As part of the scheme, his co-conspirator arranged for low-grade local vendors to provide the services for at least half the contract rates, and Sutton ensured that the company paid the invoices despite suspicions raised by an accounts payable officer. U.S. government sentencing documents indicate the agency was defrauded of almost $100,000 and that for his part, Sutton received at least $21,000 in kickbacks.

                Sutton’s co-conspirator is also charged by indictment and his case is pending disposition. 

                This case was investigated by the USAID Office of Inspector General and was prosecuted by Assistant United States Attorney Emily Miller and former Special Assistant United States Attorneys Scot Morris and Nicholas Coates of the Fraud, Public Corruption, and Civil Rights Section. The Justice Department’s Office of International Affairs provided significant assistance in securing the arrest and extradition of Sutton from the UK.

    20-cr-252

    MIL Security OSI –

  • MIL-OSI Security: 5 Connecticut Residents Charged with Defrauding Connecticut and Washington Small Business Loan Programs

    Source: Office of United States Attorneys

    David X. Sullivan, United States Attorney for the District of Connecticut, and P.J. O’Brien, Special Agent in Charge of the New Haven Division of the Federal Bureau of Investigation, today announced that a federal grand jury in New Haven has returned a 20-count indictment charging MYCALL OBAS, 42, of Danbury, MBALI NCUBE, 35, of Danbury, PIERRE OBAS, 49, of Danbury, TERESA VARGAS, 43, of Hartford, and STEPHEN WALKER, 30, of New Canaan, with offenses related to fraudulent small business loan applications in Connecticut and Washington.

    The indictment was returned on May 14, 2025.  Mycall Obas, Ncube, Pierre Obas, and Vargas were arrested on May 15, and Walker was arrested today.  Each has entered a plea of not guilty and is released on bond pending trial.

    According to the indictment, the National Development Council (“NDC”), now known as Grow America, was a not-for-profit lender that provided capital to small businesses, including through state-sponsored small business loan programs.  The Connecticut Small Business Boost Fund (“CT Boost”) was an economic initiative supported by the Connecticut Department of Economic and Community Development that connects Connecticut small businesses and non-profits with support services, including access to flexible funding for capital expenditures.  The Small Business Flex Fund (“Flex”) was an economic initiative supported by the Washington State Department of Commerce that connected Washington state small businesses and nonprofits with support services, including access to flexible funding for capital expenditures.  NDC worked with CT Boost and Flex to provide loan funding to small businesses in Connecticut and Washington, respectively.

    As alleged in the indictment and statements made in court, Mycall Obas, Ncube, Pierre Obas, and Walker used stolen personal and business identities, or created false business identities, to apply to NDC for small business loans through the CT Boost and Flex programs.  In connection with the loan applications, they created and submitted false business records, including fraudulent certificates of organization, false income statements, false balance sheets, and false tax returns.  Vargas, who was a contractor for NDC and responsible for processing and underwriting small business loan applications, processed some of the fraudulent loan applications and submitted them to NDC for approval.  She also specifically requested to be the loan processor on certain loan applications submitted by her co-conspirators in order to further the scheme. 

    It is alleged that the co-conspirators applied for and obtained 12 loans totaling more than $2 million through this scheme.

    The indictment charges each of the five defendants with one count of conspiracy to commit wire fraud, one count of conspiracy to commit money laundering, and multiple counts of wire fraud.  Each of these charges carries a maximum term of imprisonment of 20 years.  The indictment also charges each of the five defendants with one more counts of making illegal monetary transactions, an offense that carries a maximum term of imprisonment of 10 years on each count.  Mycall Obas and Pierre Obas are also charged with aggravated identity theft, which carries a mandatory term of imprisonment of two years.

    U.S. Attorney Sullivan stressed that an indictment is not evidence of guilt.  Charges are only allegations, and each defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt.

    This matter is being investigated by the Federal Bureau of Investigation with the assistance of the Internal Revenue Service – Criminal Investigation Division, and the Meriden and Danbury Police Departments.  The case is being prosecuted by Assistant U.S. Attorney Stephanie T. Levick.

    MIL Security OSI –

  • MIL-OSI Security: Retired U.S. Navy Admiral Found Guilty in Bribery Scheme

    Source: Office of United States Attorneys

                WASHINGTON – Admiral Robert Burke (USN-Ret.), 62, of Coconut Creek, Florida, was found guilty of bribery today in connection with accepting future employment at a government vendor in exchange for awarding that company a government contract.   

              Following a five-day trial, a federal jury found Burke guilty of conspiracy to commit bribery, bribery, performing acts affecting a personal financial interest, and concealing material facts from the United States. U.S. District Court Judge Trevor N. McFadden scheduled sentencing for August 22, 2025. 

              The verdict was announced by U.S. Attorney Jeanine Ferris Pirro, Matthew R. Galeotti Head of the Justice Department’s Criminal Division, Special Agent in Charge Greg Gross of the Naval Criminal Investigative Service (NCIS) Economic Crimes Field Office, and Assistant Director in Charge Steven J. Jensen of the FBI Washington Field Office.   

              “When you abuse your position and betray the public trust to line your own pockets, it undermines the confidence in the government you represent,” said U.S. Attorney Pirro. “Our office, with our law enforcement partners, will root out corruption – be it bribes or illegal contracts – and hold accountable the perpetrators, no matter what title or rank they hold.”

              According to court documents and as the evidence proved at trial, from 2020 to 2022, Burke was a four-star Admiral who oversaw U.S. naval operations in Europe, Russia, and most of Africa, and commanded thousands of civilian and military personnel. The two co-defendants Kim and Messenger were the co-CEOs of a company (Company A) and provided a workforce training pilot program to a small component of the Navy from August 2018 through July 2019. The Navy terminated a contract with Company A in late 2019 and directed Company A not to contact Burke. 

              Despite the Navy’s instructions, the co-defendants met with Burke in Washington, D.C., in July 2021, to reestablish Company A’s business relationship with the Navy. At the meeting, the charged defendants agreed that Burke would use his position as a Navy Admiral to steer a contract to Company A in exchange for future employment at the company. They further agreed that Burke would use his official position to influence other Navy officers to award another contract to Company A to train a large portion of the Navy with a value one of the co-defendants allegedly estimated to be “triple digit millions.” 

              In December 2021, Burke ordered his staff to award a $355,000 contract to Company A to train personnel under Burke’s command in Italy and Spain. Company A performed the training in January 2022. Thereafter, Burke promoted Company A in a failed effort to convince another senior Navy Admiral to award another contract to Company A. To conceal the scheme, Burke made several false and misleading statements to the Navy, including by falsely implying that Company A’s employment discussions with Burke only began months after the contract was awarded and omitting the truth on his required government ethics disclosure forms. 

              In October 2022, Burke began working at Company A at a yearly starting salary of $500,000 and a grant of 100,000 stock options. 

              This case was investigated by the Defense Criminal Investigative Service, Naval Criminal Investigative Service, and the FBI’s Washington Field Office. It is being prosecuted by Assistant U.S. Attorney Rebecca G. Ross for the District of Columbia and Trial Attorneys Trevor Wilmot and Kathryn E. Fifield of the Criminal Division’s Public Integrity Section. It was investigated and indicted by Assistant U.S. Attorney Joshua Rothstein.

    24cr265

    MIL Security OSI –

  • MIL-OSI: Columbus Circle Capital Corp. I and Cohen & Company Inc. Announce Completion of Upsized $250,000,000 Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, and Philadelphia, PA, May 19, 2025 (GLOBE NEWSWIRE) — Columbus Circle Capital Corp. I (NASDAQ: CCCMU) (the “Company”) and Cohen & Company Inc. (NYSE American: COHN) (“Cohen & Company”) today announced the closing of the Company’s upsized initial public offering of 25,000,000 units, which included 3,000,000 units issued pursuant to the partial exercise by the underwriters of their over-allotment option. The offering was priced at $10.00 per unit, resulting in gross proceeds of $250,000,000. 

    The Company’s units began trading on the Nasdaq Global Market (“NASDAQ”) on May 16, 2025, under the ticker symbol “CCCMU.” Each unit consists of one Class A ordinary share of the Company and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share, subject to certain adjustments. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on NASDAQ under the symbols “CCCM” and “CCCMW,” respectively.

    Cohen & Company Capital Markets, a division of Cohen & Company’s broker-dealer subsidiary, J.V.B. Financial Group, LLC, acted as the lead book-running manager for the offering. Clear Street LLC acted as joint book-runner. Ellenoff Grossman & Schole LLP, and Ogier (Cayman) LLP, served as legal counsel to the Company, and Loeb & Loeb LLP served as legal counsel to the underwriters.  A subsidiary of Cohen & Company also acted as sponsor of the Company.

    A registration statement relating to the units and the underlying securities was declared effective by the Securities and Exchange Commission (the “SEC”) on May 15, 2025. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    The offering was made only by means of a prospectus, copies of which may be obtained from Cohen & Company Capital Markets, 3 Columbus Circle, 24th Floor, New York, NY 10019, Attention: Prospectus Department, or by email at: capitalmarkets@cohencm.com. Copies of the registration statement can be accessed for free through the SEC’s website at www.sec.gov.

    Of the proceeds received from the consummation of the initial public offering and a simultaneous private placement of units, $250,000,000 was placed in the Company’s trust account for the benefit of the Company’s public shareholders. An audited balance sheet of the Company as of May 19, 2025 reflecting receipt of the proceeds upon consummation of the initial public offering and the private placement will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the SEC.

    About Columbus Circle Capital Corp. I

    The Company 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 industry or geographical location. The Company’s management team is led by Gary Quin, its Chief Executive Officer and Chairman of the board of directors, and Joseph W. Pooler, Jr., its Chief Financial Officer. Garrett Curran, Alberto Alsina Gonzalez, Dr. Adam Back and Matthew Murphy are independent directors.

    About Cohen & Company Inc.

    Cohen & Company is a financial services company specializing in an expanding range of capital markets and asset management services. Cohen & Company’s operating segments are Capital Markets, Asset Management, and Principal Investing. The Capital Markets segment consists of fixed income sales, trading, gestation repo financing, new issue placements in corporate and securitized products, underwriting, and advisory services, operating primarily through Cohen & Company’s subsidiaries, J.V.B. Financial Group, LLC (“JVB”) in the United States and Cohen & Company Financial (Europe) S.A. in Europe. Cohen & Company Capital Markets (“CCM”), a division of JVB, is Cohen & Company’s full-service boutique investment bank that focuses on mergers and acquisitions, capital markets, and SPAC advisory services. The Capital Markets segment also includes investment returns on financial instruments that Cohen & Company has received as consideration for advisory, underwriting, and new issue placement services provided by CCM. The Asset Management segment manages assets through collateralized debt obligations, managed accounts, joint ventures, and investment funds. As of March 31, 2025, Cohen & Company had approximately $2.3 billion of assets under management in primarily fixed income assets in a variety of asset classes including U.S. and European bank and insurance trust preferred securities, debt issued by small and medium sized European, U.S., and Bermudian insurance and reinsurance companies, equity interests of SPACs and their sponsor entities, and commercial real estate loans. The Principal Investing segment is comprised primarily of investments Cohen & Company holds related to its SPAC franchise and other investments Cohen & Company has made for the purpose of earning an investment return rather than investments made to support its trading or other capital markets business activity. For more information, please visit www.cohenandcompany.com.

    Forward-Looking Statements

    This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering. 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 offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.

    Contact Information:

    Columbus Circle Capital Corp I
    Gary Quin, Chief Executive Officer
    gquin@cohencm.com

    Cohen & Company Inc.
    Joseph W. Pooler, Jr.
    investorrelations@cohenandcompany.com

    The MIL Network –

  • MIL-OSI Video: Rangers Connect with the Community

    Source: United States Department of Defense (video statements)

    —————
    The @usarmy 5th Ranger Training Battalion hosted an open house for friends, families and the local community featuring mountaineering, hand-to-hand combat and reptile demonstrations, static displays and a Rangers in Action demonstration at Camp Frank D. Merrill in Dahlonega, Ga.

    #military #departmentofdefense #usa

    For more on the Department of Defense, visit: http://www.defense.gov
    —————
    Keep up with the Department of Defense on social media!

    Like the DoD on Facebook: http://facebook.com/DeptofDefense
    Follow the DoD on Twitter: http://twitter.com/DeptofDefense
    Follow the DoD on Instagram: http://instagram.com/DeptofDefense
    Follow the DoD on LinkedIn: https://www.linkedin.com/company/DeptofDefense

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

    MIL OSI Video –

  • MIL-OSI New Zealand: Upgrades to improve rail reliability

    Source: NZ Music Month takes to the streets

    Train commuters and businesses moving goods around the country will see more reliable rail services, thanks to the Government’s investment of $604.6 million for rail upgrades and renewals through Budget 2025, Rail Minister Winston Peters and Transport Minister Chris Bishop say. 

    “The funding provides $461 million to maintain and renew the rail freight network, and $143.6 million to replace and upgrade the Auckland and Wellington metropolitan rail networks, and will deliver a more productive, efficient and reliable rail network that supports economic growth and productivity,” Mr Peters says.

    “We want railways to succeed for this country – rail freight backs our business, and business backs our cities and provinces.

    “Rail currently moves 13 per cent of national freight and a quarter of New Zealand’s exports, complementing our road freighters’ short-hauls by doing the heavy-haul weights, the long-distance runs, and being the efficient clearing house so coastal ports can handle more export ships.

    “The Rail Network Investment Programme for 2024-2027 is now funded, meaning maintenance, network operations, asset renewals and modest improvements are funded.

    “This programme replaces decades’ old bridges, culverts, and other assets with infrastructure to last for generations to come, and provides the bedrock for growth by the commercially-funded freight operations to move our goods.

    “We have a legacy for rail freight and this builds on it. The Northland line is upgraded from Swanson to Whangārei, new locomotives and shunts are arriving, new wagons are serving customers and more are being assembled in Dunedin, and rail ferries are being secured on the Strait,” says Mr Peters.

    The Government is also funding critical network renewals in Auckland and Wellington.

    “Metro rail investment in Auckland and Wellington will improve the level of service for passengers by addressing overdue and critical renewals work,” Mr Bishop says.

    “A backlog of overdue renewals has made services less reliable, with commuters experiencing ongoing disruption in recent years. Piecemeal network maintenance has increased overall costs and has not delivered the high-performing metro rail service that our cities need to flourish.

    “The poor state of our metro networks has flow-on impacts for performance. For example, temporary speed restrictions are often needed as a safety precaution, leading to increased travel times and disrupting service schedules. 

    “The Budget investment in metro rail will continue to support delivery of modern networks that are more reliable, can be efficiently maintained, ease congestion on the busiest parts of the network, and allow for increased future demand. It will also ensure a better experience for commuters who already make 24 million journeys on the networks each year. 

    “Auckland Council and Greater Wellington Regional Council will also need to meet their fair share of costs to deliver the services we want for metro rail.”

    Editor’s notes for the metro networks and the Wairarapa:

    Recent rail investments include funding through previous Budgets and the National Land Transport Fund of:

    • $159.2 million funding to complete the Rail Network Rebuild programme in Auckland, and to address historic formation, drainage and track issues. This investment is critical to prepare the network for the opening of City Rail Link
    • $107.7 million in Budget 2024 funding for metro rail networks was split between Auckland and Wellington to address the renewals backlog and deliver more reliable services for commuters in our main cities:
      • $48.8 million for Auckland
      • $52.9 million for Wellington
      • $6 million of contingency funding to manage cost escalations on maintenance and renewal works.
    • $137.2 million for upgrades to substations on the Wellington metro rail network, to improve the reliability of services
    • $802.8 million investment into the Wairarapa and Manawatū rail network infrastructure and rolling stock to deliver more reliable services for commuters in the lower North Island. 

    MIL OSI New Zealand News –

  • MIL-OSI: Capital Bank Launches New Digital Banking Platform in Partnership with Q2, Advancing Innovation and Customer-Focused Growth

    Source: GlobeNewswire (MIL-OSI)

    ROCKVILLE, Md., May 19, 2025 (GLOBE NEWSWIRE) — Capital Bank, N.A. has officially launched its new digital banking platform, powered by Q2, a leader in digital transformation for financial services. The upgrade delivers a secure, modern experience for business customers and marks a major step in the Bank’s ongoing digital evolution.

    Known for its agile, growth-oriented approach, Capital Bank continues to invest in technology that enhances efficiency and meets the demands of today’s business environment . The new platform includes advanced digital treasury management capabilities and provides the scalability needed to expand into new geographies and new customer segments.

    “This launch is more than a technology upgrade—it’s a strategic step in how we scale Capital Bank,” said Ed Barry, CEO of Capital Bank. “By investing in a modern, flexible platform, we’re strengthening our ability to serve complex business needs, expand into new markets, and deliver the kind of seamless experience today’s customers expect. It’s a move that aligns technology with our broader growth strategy and positions us to better serve an increasingly digital economy—without losing the personal touch that defines who we are.”

    The platform gives customers consistent access across devices and equips the Bank to stay nimble in a rapidly changing financial landscape.

    “Providing reliable, high-quality service—both in person and online—is a priority for our entire organization,” added Steve Poynot, President and COO of Capital Bank. “This partnership with Q2 allows us to bring our relationship-first approach into the digital space, ensuring our customers experience convenience without compromise.”

    About Capital Bank
    Capital Bank is a subsidiary of Capital Bancorp, Inc. (NASDAQ: CBNK), a publicly traded company with more than $3.3 billion in assets as of March 31, 2025. The Bank is a member of the Federal Reserve Bank System, FDIC-insured, and an Equal Housing Lender.

    Since 1999, Capital Bank has combined innovative technology with customized financial solutions to help clients grow. Its long-standing success is grounded in a simple principle: Think Big, Act Local.

    To learn more, visit www.capitalbankmd.com.

    Dominic Canuso
    EVP, Chief Financial Officer
    dcanuso@capitalbankmd.com
    240-283-0402 ext.1223

    The MIL Network –

  • MIL-OSI Banking: Stanford Medicine is orchestrating multiple agents to connect medical data, clinical trials and more – all with the goal of delivering more effective cancer care. Incredible to see in action. Learn more about our new healthcare agent orchestrator.

    Source: Microsoft

    Headline: Stanford Medicine is orchestrating multiple agents to connect medical data, clinical trials and more – all with the goal of delivering more effective cancer care. Incredible to see in action. Learn more about our new healthcare agent orchestrator.

    Stanford Medicine is orchestrating multiple agents to connect medical data, clinical trials, and more – all with the goal of delivering more effective cancer care. Incredible to see in action. Learn more about our new healthcare agent orchestrator: https://lnkd.in/gGJd-uQG

    Transcript

    Sanford Medicine is the at the forefront of Cancer Research in the context of treatment. Tumor boards are a really important meeting of many different clinicians who convene because a patient presents in a way that they’re not familiar with. You have to pull together information about medications, procedures, radiology, labs, a patients history and the medical literature. That information is fragmented in a bunch of different places. Those are things we do manually and we can’t do them 4000 times per year. Their health care agent Orchestrator is a way of bringing all this together at the beginning so that we can help make patient decisions more efficiently, faster, and perhaps more accurately. This is an agentic AI solution deployable through Azure AI Foundry. We’ve been able to build, customize, and deploy our own agents to provide a comprehensive report that brings together all of these disparate information sources. They’re already using Word to summarize things. They often make PowerPoint slides. This enables us. To put everything in an integrated setting into one summary, it took just a few lines of code to deploy these agents into teams so that we could start interacting with them directly. It’s being delivered as a platform on which we can build. We can package things to share with others. We wanted to develop tools that would help physicians all over the world. I think it’s going to be transformative.

    MIL OSI Global Banks –

  • MIL-OSI: Aether Holdings to Present at the Aegis Capital Corp. 2025 Virtual Conference on May 22nd

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, May 19, 2025 (GLOBE NEWSWIRE) — Aether Holdings, Inc. (Nasdaq: ATHR) (“Aether” or the “Company”), an emerging financial technology platform company that offers proprietary research analytics, today announced that its management team is scheduled to present at the Aegis Capital Corp. 2025 Virtual Conference on Thursday, May 22nd, 2025.

    Presentation Details:
    Date: May 22nd, 2025
    Time: 2:00 p.m. ET
    Webcast Registration: https://us02web.zoom.us/meeting/register/AfmnLxICTqmjEvoSG9-MMQ

    Frank Cid, VP of Business Development at Aether Holdings, will present the Company’s strategic vision, highlighting the recent launch of Alpha Edge Media, its digital-first content arm focused on expanding subscriber engagement through targeted newsletters and proprietary market insights.

    “We are excited to showcase Aether at the Aegis Virtual Conference following our recent initial public offering,” said Nicolas Lin, CEO of Aether Holdings. “This is a key moment to share how we’re scaling subscriber engagement through Alpha Edge Media, our content engine designed to grow a data-rich investor audience. By connecting media, behavior, and analytics, we’re creating a self-learning system that delivers smarter, faster insights and positions us to lead the next wave of fintech innovation.”

    About Aether Holdings, Inc.

    Aether Holdings, Inc. (Nasdaq: ATHR) is an emerging financial technology holding company focused on transforming the way investors navigate the markets. Leveraging decades of market expertise and cutting-edge technology, Aether delivers proprietary tools, data, and research to empower traders with actionable insights and enhanced decision-making capabilities.

    Aether’s flagship platform, SentimenTrader.com, is designed to serve both retail and institutional investors by offering advanced sentiment analysis through the use of machine learning (ML) and artificial intelligence (AI) capabilities. With over 20 years of sentiment data integrated into its systems, Aether aims to provide its users with a powerful combination of technology and expertise, enabling them to make informed decisions to level up their trading in the markets.

    Aether is committed to building an ecosystem that supports smarter, data-driven trading strategies, reinforcing its mission to empower the investing community and redefine excellence in fintech. By integrating advanced technologies, including artificial intelligence tools with the critical thinking and analytical abilities of its team of evidence-based trading veterans, Aether aims to provide its users with a powerful combination of technology and expertise, enabling them to make informed decisions to level up their trading in the markets.

    Find out more about Aether Holdings at https://helloaether.com/

    Cautionary Note Regarding Forward Looking Statements

    This news release and statements of Aether’s management in connection with this news release contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. In this press release, forward-looking statements relate to the anticipated benefits to Aether of the launch and business plan for Alpha Edge Media as described herein. These and other forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For Aether, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to Aether’s ability to adequately market its products and services, and to develop or acquire additional products and product offerings; (ii) risks related to intense competition in the fintech and financial newsletter sector; (iii) risk related to artificial intelligence and machine learning; (iv) the inability of Aether to maintain and protect its reputation for trustworthiness and independence; (v) the inability of Aether to attract new users and subscribers and convert free users to paying subscribers; (vi) similar risks and uncertainties associated with operating a relatively small business a rapidly evolving industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and Aether therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://investor.helloaether.com/#sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

    Aether Holdings, Inc. Contact
    Nicolas Lin, CEO
    (347) 363-0886
    ir@helloaether.com

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

    Media Contact
    Jessica Starman, MBA
    media@helloaether.com

    The MIL Network –

  • MIL-OSI USA: ICYMI: Shaheen, Hawley Introduce Bipartisan Bill to End Taxpayer-Funded Pharma Ads, Hold Drug Companies Accountable

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen

    (Washington, DC) – U.S. Senators Jeanne Shaheen (D-NH) and Josh Hawley (R-MO) last week introduced the No Handouts for Drug Advertisements Act—bipartisan legislation that would prohibit pharmaceutical companies from claiming tax deductions for expenses on drug advertisements to consumers. Under current law, pharmaceutical companies can deduct the costs of direct-to-consumer advertising, subsidizing their media campaigns at taxpayers’ expense. Shaheen’s and Hawley’s bipartisan legislation would end this practice that contributes to increased health care costs. 

    “It’s flat-out wrong that drug companies receive huge tax breaks for running ads directly to consumers, especially as taxpayers in my state pay more and more for life-saving drugs,” said Senator Shaheen. “It’s well past time for Congress to step in to end these tax breaks, lower costs for everyday Americans and hold pharmaceutical companies accountable. My bipartisan bill with Senator Hawley offers a practical solution to do just that.” 

    “For too long, Big Pharma has used our tax dollars to fund ads that push their products directly on patients. That needs to end,” Senator Hawley said. “HHS Secretary RFK, Jr. has made it clear that he wants to ban prescription drug commercials, and I’m proud to introduce legislation to do just that. Making America Healthy Again starts by ending handouts to these corporations and empowering consumers to make the health decision that is truly in their best interest.” 

    “This bipartisan bill seeks to eliminate a tax break that fuels the flood of prescription drug ads designed to boost profits and drive up prices for patients. The U.S. is one of just two countries that even allow direct-to-consumer drug advertising — there’s no reason taxpayers should be footing the bill for it. We’re proud to support Senators Shaheen and Hawley’s common-sense reform to put patients before pharma profits,” said Merith Basey, Executive Director of Patients for Affordable Drugs Now. 

    The No Handouts for Drug Advertisements Act would:  

    • Amend the Internal Revenue Code to disallow tax deductions for expenses related to direct-to-consumer advertising of both prescription drugs and compounded medications. 
    • Define “direct-to-consumer advertising” as advertisements primarily targeted to the general public through television, radio, direct mail, billboards, internet, social media, and other digital platforms. 

    Shaheen has spearheaded efforts to combat rising drug prices and make essential medications more affordable, including by supporting key provisions in the Inflation Reduction Act that provide Medicare the ability to directly negotiate the prices of certain high-cost drugs with pharmaceutical manufacturers. As co-chair of the bipartisan U.S. Senate Diabetes Caucus, Shaheen has consistently pressed to hold insulin manufacturers, insurers and pharmacy benefit managers accountable for the skyrocketing cost of life-saving insulin. Her bipartisan legislation with Senator Susan Collins (R-ME), the INSULIN Act, would comprehensively address the skyrocketing costs of insulin and remove barriers to care making it more accessible to millions of Americans.  

    MIL OSI USA News –

  • MIL-OSI USA: Congresswoman Torres Leads 100 Colleagues in Supporting $400 Million in Funding for Immigrant Legal Representation

    Source: United States House of Representatives – Congresswoman Norma Torres (35th District of California)

    May 19, 2025

    Letter Calling for Robust Investment in Due Process for Immigrants and Asylum Seekers Facing Removal Proceedings

    Washington, D.C. – Today, Congresswoman Norma Torres (CA-35),  joined by 100 of her colleagues, led a letter to the  House Appropriations Subcommittee on Commerce, Justice, Science, and Related Agencies Chair urging $400 million in funding for legal representation, to ensure the right to due process enshrined in the Constitution. 

    The lawmakers’ letter calls attention to the lack of guaranteed legal counsel in immigration proceedings, noting that more than 40 percent of individuals—and a staggering 70 percent of those in detention—face removal proceedings without a lawyer.

    “Our immigration courts are overwhelmed and increasingly complex. Without legal representation, thousands of vulnerable individuals are left to face deportation alone, often in a language they do not speak,”  said The Members. “Legal representation is not just a safeguard for the individual, but a necessary component of an efficient and fair immigration system. This funding is about justice, dignity, and ensuring everyone has their fair day in court.”

    The $400 million request would build on the $50 million included in the House FY2022 Appropriations Bill (H.R. 4505) to expand access to legal services. In their letter, the Members cite clear data: individuals with legal counsel are five times more likely to obtain legal relief and are significantly more likely to appear in court, which increases court efficiency and reduces case backlogs.

    The letter also denounces the misuse of outdated laws such as the Alien Enemies Act and certain provisions of the Immigration and Nationality Act, which have been exploited to detain and deport legal residents for engaging in constitutionally protected activities. Judges have warned that without due process for immigrants, there is no due process for citizens either, because authorities could simply claim someone isn’t a citizen, denying them the opportunity to prove their citizenship.

    “Weaponizing our legal system to punish lawful residents or silence dissent is un-American. This investment in legal representation is a direct step toward restoring due process and upholding our nation’s fundamental values,” the Members Continued.

    Full letter

    ###

    Carta pide una inversión significativa en el proceso para los inmigrantes y solicitantes de asilo que se enfrentan a un proceso de expulsión

    Washington, D.C. – Hoy, la Congresista Norma Torres (CA-35) unida a 100 de sus colegas, dirigió una carta al Presidente de la Subcomisión de Asignaciones para Comercio, Justicia, Ciencia y Agencias Relacionadas de la Cámara de Representantes, instando a destinar 400 millones de dólares a la financiación de la representación legal, para garantizar el derecho al debido proceso consagrado en la Constitución.

    La carta de los legisladores llama la atención sobre la falta de garantía de asesoramiento jurídico en los procedimientos de inmigración, señalando que más del 40 por ciento de las personas – y un asombroso 70 por ciento de los detenidos – enfrentan procedimientos de deportación sin un abogado.

    “Nuestros tribunales de inmigración están desbordados y son cada vez más complejos. Sin representación legal, miles de personas vulnerables se enfrentan solas a la deportación, a menudo en un idioma que no hablan,” dijeron los Miembros. “La representación legal no es sólo una salvaguarda para el individuo, sino un componente necesario de un sistema de inmigración eficiente y justo. Esta financiación tiene que ver con la justicia, la dignidad y la garantía de que todo el mundo tenga su día justo en los tribunales.”

    La solicitud de 400 millones de dólares se basaría en los 50 millones incluidos en el proyecto de ley de asignaciones para el año fiscal 2022 de la Cámara de Representantes (H.R. 4505) para ampliar el acceso a los servicios jurídicos. En su carta, los diputados citan datos claros: las personas con asistencia letrada tienen cinco veces más probabilidades de obtener ayuda legal y es mucho más probable que comparezcan ante los tribunales, lo que aumenta la eficiencia de los tribunales y reduce la acumulación de casos.

    La carta también denuncia el uso indebido de leyes obsoletas como la Ley de Enemigos Extranjeros y ciertas disposiciones de la Ley de Inmigración y Nacionalidad, que han sido explotadas para detener y deportar a residentes legales por participar en actividades constitucionalmente protegidas.

    “Armar nuestro sistema legal para castigar a los residentes legales o silenciar la disidencia es antiestadounidense. Esta inversión en representación legal es un paso directo hacia la restauración del debido proceso y la defensa de los valores fundamentales de nuestra nación,” Continuaron los Miembros.

    ###

    MIL OSI USA News –

  • MIL-OSI: GraniteShares Announces Change in ETF Lineup

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, May 19, 2025 (GLOBE NEWSWIRE) — GraniteShares announced today that it will close and liquidate the following ETF:

    Ticker Fund Name Commencement of investment operations
    TSLI GraniteShares 1x Short AMD Daily ETF 08/23/2023

    On May 09, 2025, the board of GraniteShares ETF Trust approved the liquidation of the GraniteShares 1x Short AMD Daily ETF (the “ETF”). The last day of trading for the ETF on NASDAQ Stock Market will be June 20, 2025. The last day creation orders will be accepted for the ETF will be June 18, 2025. Investors may sell their shares of the ETF until market close on June 20, 2025. Shares of the ETF will no longer trade on NASDAQ Stock Market after market close on June 20, 2025, and will be subsequently delisted. The final distribution to shareholders of the ETF is expected to occur on or about June 23, 2025.

    When the ETF commences the liquidation of its portfolio, it may hold cash and securities that may not be consistent with the ETF’s investment objectives and strategies.

    At the time the liquidation of the ETF is complete, the ETF shares will be individually redeemed. For shareholders that still hold shares of the ETF as of June 20, 2025, shares will be automatically redeemed for cash at the net asset value as of close of business on that date, which will reflect the costs of closing the ETF. Shareholders will generally recognize a capital gain or loss on the redemptions. The ETF may or may not pay one or more dividends or other distributions prior to or along with the redemption payments.

    About GraniteShares

    GraniteShares is an independent ETF issuer headquartered in New York City. GraniteShares will continue to offer the following leveraged single stock ETFs:

    ETF NAME TICKER UNDERLYING STOCK MANAGEMENT FEE/TOTAL EXPENSES
           
    GraniteShares 2x Long AAPL Daily ETF AAPB Apple 0.99%/1.15%
    GraniteShares 2x Long AMD Daily ETF AMDL AMD 0.99%/1.15%
    GraniteShares 2x Long AMZN Daily ETF AMZZ Amazon.com 0.99%/1.15%
    GraniteShares 2x Long BABA Daily ETF BABX Alibaba 0.99%/1.15%
    GraniteShares 2x Long COIN Daily ETF CONL Coinbase 0.99%/1.15%
    GraniteShares 2x Short COIN Daily ETF CONI Coinbase 0.99%/1.15%
    GraniteShares 2x Long CRWD Daily ETF CRWL CrowdStrike 1.30%/1.50%
    GraniteShares 2x Long DELL Daily ETF DLLL Dell Technologies 1.30%/1.50%
    GraniteShares 2x Long INTC Daily ETF INTW Intel 1.30%/1.50%
    GraniteShares 2x Long IONQ Daily ETF IONL IONQ 1.30%/1.50%
    GraniteShares 2x Long LCID Daily ETF LCDL Lucid 0.99%/1.15%
    GraniteShares 2x Long MARA Daily ETF MRAL MARA Holding 1.30%/1.50%
    GraniteShares 2x Long META Daily ETF FBL Meta Platform 0.99%/1.15%
    GraniteShares 2x Long MRVL Daily ETF MVLL Marvell Technology 1.30%/1.50%
    GraniteShares 2x Long MSFT Daily ETF MSFL Microsoft 0.99%/1.15%
    GraniteShares 2x Long MU Daily ETF MULL Micron Technology 1.30%/1.50%
    GraniteShares 2x Long NVDA Daily ETF NVDL NVIDIA 0.99%/1.15%
    GraniteShares 2x Short NVDA Daily ETF NVD NVIDIA 0.99%/1.15%
    GraniteShares 2x Long PLTR Daily ETF PTIR Palantir 0.99%/1.15%
    GraniteShares 2x Long QCOM Daily ETF QCML Qualcomm 1.30%/1.50%
    GraniteShares 2x Long RDDT Daily ETF RDTL Reddit 1.30%/1.50%
    GraniteShares 2x Long RIVN Daily ETF RVNL Rivian 0.99%/1.15%
    GraniteShares 2x Long SMCI Daily ETF SMCL Super Micro Computer 1.30%/1.50%
    GraniteShares 1.25x Long TSLA Daily ETF TSL Tesla 0.99%/1.15%
    GraniteShares 2x Long TSLA Daily ETF TSLR Tesla 0.99%/1.15%
    GraniteShares 2x Short TSLA Daily ETF TSDD Tesla 0.99%/1.15%
    GraniteShares 2x Long TSM Daily ETF TSML Taiwan Semiconductor Manufacturing 1.30%/1.50%
    GraniteShares 2x Long Uber Daily ETF UBRL Uber 0.99%/1.15%
    GraniteShares 2x Long VRT Daily ETF VRTL Vertiv 1.30%/1.50%
           

    In addition, GraniteShares’ ETF suite includes the following ETFs:

    Contact Information:
    William Rhind, CEO
    GraniteShares Inc
    +1 646 876 5049
    william.rhind@graniteshares.com

    Important Information

    Investors should consider the investment objectives, risks, charges and expenses of the GraniteShares funds (the “Funds”) carefully before investing. For a prospectus or summary prospectus with this and other information about the Funds, please call (844) 476 8747, or visit the website at www.graniteshares.com. Read the prospectus or summary prospectus carefully before investing.

    To obtain a prospectus for BAR, please visit
    https://www.graniteshares.com/Documents/25/Prospectus-GraniteShares-Gold-Trust.pdf
    To obtain a prospectus for PLTM, please visit
    https://graniteshares.com/media/gwrbh3ah/pltm_prospectus.pdf
    To obtain a prospectus for COMB, please visit
    https://graniteshares.com/media/4crf2x4e/graniteshares-etf-trust-comb-summary-prospectus.pdf

    Except as described above regarding the liquidation of the ETFs, shares of the Funds may be sold during trading hours on the exchange through any brokerage account, shares are not individually redeemable, and shares may only be redeemed directly from a Fund by Authorized Participants. There can be no assurance that an active trading market for shares in a Fund will develop or be maintained. Shares may trade above or below NAV. Brokerage commissions will apply.

    Fund Risks

    Multiple funds have a limited operating history of less than a year and risks associated with a new fund. The Leveraged and Daily Inverse Funds are not suitable for all investors. The investment program of the funds is speculative, entails substantial risks and include asset classes and investment techniques not employed by most ETFs and mutual funds. Investments in the ETFs are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund is designed to be utilized only by knowledgeable investors who understand the potential consequences of seeking daily leveraged (2X) or daily inverse (-1X and -2X) investment results, understand the risks associated with the use of leverage and are willing to monitor their portfolios frequently. For periods longer than a single day, the Fund will lose money if the Underlying Stock’s performance is flat, and it is possible that the Fund will lose money even if the Underlying Stock’s performance increases over a period longer than a single day. An investor could lose the full principal value of his/her investment within a single day. The funds do not directly invest in the underlying stock.

    The Funds seek daily inverse or leveraged investment results and are intended to be used as short-term trading vehicles. Each Fund with “Long” in its name attempts to provide daily investment results that correspond to the respective long leveraged multiple of the performance of an underlying stock (each a Leveraged Long Fund). Each Fund with “Short” in its name attempts to provide daily investment results that correspond to the inverse (or opposite) multiple of the performance of an underlying stock (each an Inverse Fund).

    Investors should note that the Long Leveraged Funds and the Daily Inverse Funds pursue daily leveraged investment objectives and daily inverse investment objectives (respectively), which means that the fund is riskier than alternatives that do not use leverage and inverse strategies because the fund magnifies the performance of their underlying security. The volatility of the underlying security may affect a Funds’ return as much as, or more than, the return of the underlying security.

    For the Leveraged Long Funds because of daily rebalancing and the compounding of each day’s return over time, the return of the Fund for periods longer than a single day will be the result of each day’s returns compounded over the period, which will very likely differ from 200% of the return of the Underlying Stock over the same period. The Fund will lose money if the Underlying Stock’s performance is flat over time, and as a result of daily rebalancing, the Underlying Stock volatility and the effects of compounding, it is even possible that the Fund will lose money over time while the Underlying Stock’s performance increases over a period longer than a single day.

    For the Daily Inverse Funds because of daily rebalancing and the compounding of each day’s return over time, the return of the Fund for periods longer than a single day will be the result of each day’s returns compounded over the period, which will very likely differ from -100% and 200% of the return of the Underlying Stock over the same period. The Fund will lose money if the Underlying Stock’s performance is flat over time, and as a result of daily rebalancing, the Underlying Stock volatility and the effects of compounding, it is even possible that the Fund will lose money over time while the Underlying Stock’s performance decreases over a period longer than a single day.

    Shares are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. There can be no guarantee that an active trading market for ETF shares will develop or be maintained, or that their listing will continue or remain unchanged. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions and frequent trading may incur brokerage costs that detract significantly from investment returns.

    An investment in the Fund involves risk, including the possible loss of principal. The Fund is non-diversified and includes risks associated with the Fund concentrating its investments in a particular industry, sector, or geographic region which can result in increased volatility. The use of derivatives such as futures contracts and swaps are subject to market risks that may cause their price to fluctuate over time. Risks of the Fund include Effects of Compounding and Market Volatility Risk, Inverse Risk, Market Risk, Counterparty Risk, Rebalancing Risk, Intra-Day Investment Risk, Daily Index Correlation Risk, Other Investment Companies (including ETFs) Risk, and risks specific to the securities of the Underlying Stock and the sector in which it operates. These and other risks can be found in the prospectus.

    Investing in physical commodities, including through commodity-linked derivative instruments such as Commodity Futures, Commodity Swaps, as well as other commodity-linked instruments, is speculative and can be extremely volatile and may not be suitable for all investors. Market prices of commodities may fluctuate rapidly based on numerous factors, including: changes in supply and demand relationships (whether actual, perceived, anticipated, unanticipated or unrealized); weather; agriculture; trade; domestic and foreign political and economic events and policies; diseases; pestilence; technological developments; currency exchange rate fluctuations; and monetary and other governmental policies, action and inaction.

    A liquid secondary market may not exist for the types of commodity-linked derivative instruments the Fund buys, which may make it difficult for the Fund to sell them at an acceptable price. The Fund is new with no operating history. As a result, there can be no assurance that the Fund will grow to or maintain an economically viable size, in which case it could ultimately liquidate.

    Derivatives may be more sensitive to changes in market conditions and may amplify risks and losses.

    This information is not an offer to sell or a solicitation of an offer to buy shares of any Funds to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. Please consult your tax advisor about the tax consequences of an investment in Fund shares, including the possible application of foreign, state, and local tax laws. You could lose money by investing in the ETFs. There can be no assurance that the investment objective of the Funds will be achieved. None of the Funds should be relied upon as a complete investment program.

    The Fund is distributed by ALPS Distributors, Inc, which is not affiliated with GraniteShares or any of its affiliates ©2025 GraniteShares Inc. All rights reserved. GraniteShares, GraniteShares Trusts, and the GraniteShares logo are registered and unregistered trademarks of GraniteShares Inc., in the United States and elsewhere. All other marks are the property of their respective owners

    The MIL Network –

  • MIL-OSI: BitMine Launches Bitcoin Treasury Advisory Practice and Enters into $4M Transaction with First BTC Treasury Advisory Client

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, May 19, 2025 (GLOBE NEWSWIRE) — BitMine Immersion Technologies, Inc. (OTCQX: BMNRD) today announced the launch of its Bitcoin Treasury Advisory Practice, alongside a $4 million strategic transaction with a U.S. exchange-listed company. BitMine is offering “Mining as a Service,” or MaaS, to the strategic partner and plans to offer MaaS to companies that own Bitcoin and wish to add Bitcoin denominated revenue, in addition to Bitcoin, as a core treasury holding. 

    Upon closing of the strategic agreement, BitMine will lease 3,000 Bitcoin ASIC miners to the client through December 30, 2025, for $3.2 million, with $1.6 million paid upfront. The client has also engaged BitMine for an $800,000 consulting agreement for one year, focused on Bitcoin Mining-as-a-Service and Bitcoin Treasury Strategy.

    This marks the first client for BitMine’s new advisory business, which supports public companies with Bitcoin-based revenue strategies, GAAP accounting insights, custody solutions, and BTC/USD hedging.

    “Currently, there are almost 100 public companies that have adopted Bitcoin as a treasury holding. We expect this number to grow in the future. As more companies adopt Bitcoin treasury strategies, the need for infrastructure, revenue generation, and expert guidance grows along with it,” said Jonathan Bates, CEO of BitMine. “This single transaction is greater than our entire 2024 fiscal year revenue, and we feel there is an opportunity to acquire more clients in the near future as interest in Bitcoin ownership grows.”

    About BitMine Immersion Technologies, Inc.

    BitMine is a Bitcoin Network Company, with a focus on Bitcoin mining, Synthetic Bitcoin Mining through involvement in Bitcoin mining hashrate as a financial product, offering advisory and mining services to companies interested in earning Bitcoin denominated revenues, and general Bitcoin advisory to public companies. BitMine’s operations are located in low-cost energy regions in Trinidad; Pecos, Texas; and Silverton, Texas.

    Forward-Looking Statements:

    This press release contains statements that constitute “forward-looking statements.” The statements in this press release that are not purely historical are forward-looking statements which involve risks and uncertainties. This document specifically contains forward-looking statements regarding expected revenue from strategic transactions and future business opportunities. In evaluating these forward-looking statements, you should consider various factors, including: our ability to keep pace with new technology and changing market needs; our ability to finance our current business and proposed future business; and the competitive environment of our business. Actual future performance outcomes and results may differ materially from those expressed in forward-looking statements. Forward-looking statements are subject to numerous conditions, many of which are beyond BitMine’s control, including those set forth in the Risk Factors section of BitMine’s Annual Report on Form 10-K/A filed with the Securities and Exchange Commission (the “SEC”) on April 3, 2025, and its Quarterly Report on Form 10-Q filed with the SEC on April 14, 2025, and all other SEC filings, as amended or updated from time to time. Copies of BitMine’s filings with the SEC are available on the SEC’s website at www.sec.gov/edgar/searchedgar/companysearch. BitMine undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

    BitMine Immersion Technologies Contact:

    Jonathan Bates, Chairman and CEO

    info@bitminetech.io

    The MIL Network –

  • MIL-OSI: NCS Multistage Holdings, Inc. to Present at the Emerging Growth Conference

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, May 19, 2025 (GLOBE NEWSWIRE) — NCS Multistage Holdings, Inc. (“NCS” or the “Company”) (NASDAQ:NCSM) announced today that Ryan Hummer, Chief Executive Officer, is scheduled to present at the Emerging Growth Conference on Wednesday, May 21, 2025 at 1:55 p.m. Central Time (2:55 p.m. Eastern Time).

    To attend the presentation, interested parties should register at the following link:

    Register for Emerging Growth Conference here

    A recording of the presentation should be available on the Company’s website at www.ncsmultistage.com under the Investors section for approximately 90 days following the event.

    NCS Multistage Holdings, Inc. is a leading provider of highly engineered products and support services that facilitate the optimization of oil and natural gas well construction, well completions and field development strategies. NCS provides products and services primarily to exploration and production companies for use in onshore and offshore wells, predominantly wells that have been drilled with horizontal laterals in both unconventional and conventional oil and natural gas formations. NCS’s products and services are utilized in oil and natural gas basins throughout North America and in selected international markets, including the North Sea, the Middle East, Argentina and China. NCS’s common stock is traded on the Nasdaq Capital Market under the symbol “NCSM.” Additional information is available on the website, www.ncsmultistage.com.

    Contact:
    Mike Morrison
    Chief Financial Officer and Treasurer
    +1 281-453-2222
    IR@ncsmultistage.com

    The MIL Network –

  • MIL-Evening Report: ‘No pain, no gain’: why some primary students are following intense study routines

    Source: The Conversation (Au and NZ) – By Christina Ho, Associate professor in Social and Political Sciences, University of Technology Sydney

    MNStudio/ Shutterstock

    Every year, thousands of New South Wales students sit a test to determine places for highly sought-after selective high schools. These are academically selective public schools often associated with high Year 12 scores.

    While there has long been a level of expectation around selective school entrance, the most recent round of testing has shone a fresh light on the pressures some young people are experiencing.

    Media reports have described some students studying for 18 months to prepare for the selective school test, with multiple sessions of tutoring each week.

    Earlier this month, police were called to control crowds at two testing centres as parents and students from one session overlapped with another. This is also the first year the tests have been done online and there were technical difficulties as students tried to complete exams.

    One exam invigilator told The Sydney Morning Herald about the stress they witnessed among students.

    We were dealing with kids who were freaking out and totally traumatised by what was going on. You could not make up a worse nightmare than what we went through that day.

    It’s not surprising children were upset. The pressure to perform well on test day is enormous. As my previous research has found, some families believe entry into a selective school will secure their child’s future.

    As my new research with colleagues suggests, this sees some families place huge pressure on students to study and prepare for academic tests in primary school.

    Not just a NSW thing

    Most (albeit not all) of Australia’s selective schools are in NSW.

    But there is pressure around other tests in the primary years. There are similar levels of competition for lucrative private school scholarships around Australia, which children sit as early as Year 3. Many of these are determined by centralised tests.

    Tutoring companies also offer programs for primary students preparing for NAPLAN tests in Year 3 and Year 5, as well as the “opportunity class” test in NSW (for an academically selective stream for Year 5 and 6).

    Our research

    In ongoing, as yet unpublished research on education cultures among migrant communities in Sydney, colleagues and I are focusing on 38 families with children in upper primary school.

    In 2022 and 2023, we interviewed students, parents and teachers at six schools in high and low income areas of Sydney. All schools included large numbers of Asian migrants, allowing us to compare different groups’ approaches to education.

    While not necessarily representative of all Asian migrant families, or all families with school-aged children in general, we found intensive preparation for the selective test was common in this group, especially among those students already enrolled in an opportunity class.

    The tutoring routine

    Many students preparing for the selective test told us they attended private tutoring three or more days per week, in addition to completing home based study. Some had begun this routine up to 12 months before to the test.

    One mother, whose son attended tutoring every day, at three different centres, on top of two hours of daily homework, told us,

    That’s how we prepare for selective […] You need to be methodical […] no pain, no gain.

    Other parents explained they resorted to private tutoring because schools did not teach what was needed to succeed in the selective tests.

    Not only do children spend afternoons, evenings and weekends in tutoring centres, they are also often giving up most if not all recreational, sporting and other extracurricular activities, narrowing their focus to acing the test.

    Families also postpone holidays, outings and other potential distractions. Many of our student participants aiming for a selective school told us they never socialised with their friends outside of school time.

    Sometimes they even neglected their school work so as to focus on the selective test. One teacher told us many of her students were absent from school in the week prior to the test, to ramp up their preparation.

    How does this impact students?

    This culture of extreme study and competitive schooling raises profound questions about the implications for student wellbeing. Some students spoke about their fatigue. As one student said:

    I work up to late at night. So sometimes I feel drowsy and I yawn a bit and have water in my eyes.

    Their teachers also expressed concern about insufficient sleep and heightened stress caused by the pressure to get into a selective school. They described students’ tears if they were not successful when the results came out.

    One teacher said he had a “blanket rule” of not talking about the tests in the classroom, because his students were so preoccupied with ensuring they were doing enough preparation.

    Other teachers reflected on students’ fear of taking risks because of the culture of perfectionism associated with scoring and ranking through tests.

    Some students stop doing other activites to prepare for the selective schools test.
    Maria Sbytova/ Shutterstock

    What does the research say?

    International research shows an association between high-stakes testing in primary years and issues with children’s mental health and academic confidence. There is also a negative association with students’ achievement in maths and literacy. That is, students who experience pressured exams were more likely to experience anxiety and depression, and not do as well in core subjects as those who did not experience this pressure.

    Some parents in our study expressed concern for their child’s wellbeing. But others saw stress a positive sign of engagement and commitment, and necessary for securing the all important place in a selective school.

    Given many are recent migrants, without established networks in Australia, and fearful of racial discrimination against their children, they believe education to be the most crucial foundation for future success.

    However, we need more research on the impacts of these parental aspirations and anxieties on the next generation. And a broader discussion about the benefits of selecting some students – who may have benefited from extensive and expensive private tutoring – to go to separate, high-performing government schools.

    Megan Watkins, Greg Noble and Alexandra Wong all contributed to the research on migrant families mentioned in this article, as part of a larger Australian Research Council-funded project.

    Christina Ho received funding from the Australian Research Council to conduct this research.

    – ref. ‘No pain, no gain’: why some primary students are following intense study routines – https://theconversation.com/no-pain-no-gain-why-some-primary-students-are-following-intense-study-routines-256815

    MIL OSI Analysis – EveningReport.nz –