Category: Business

  • MIL-OSI: authID Announces Strategic Partnership with TechDemocracy to Accelerate Passwordless Identity for Workforce & Customer Access

    Source: GlobeNewswire (MIL-OSI)

    Leading cybersecurity services firm to train its team on authID’s biometric authentication and verification platforms, aiming to accelerate the adoption of secure and privacy-preserving passwordless solutions.

    Denver, Colorado and Piscataway, New Jersey, April 29, 2025 (GLOBE NEWSWIRE) — authID, a leading provider of identity proofing and biometric authentication, today announced a partnership with TechDemocracy, a global cybersecurity services firm with over 25 years of Identity and Access Management (IAM) expertise, to expand the industry’s familiarity with authID’s platform and further the transition to frictionless, passwordless sign-ins.

    As a newly designated integration services partner, TechDemocracy will certify an initial cohort of 25 professionals on authID’s Proof, Verified, and PrivacyKey™ solutions. This cohort will be certified to consult, implement, operate, and support authID’s platform, which features one-in-one-billion false-match accuracy rates and lightning-fast verification speeds. It also provides companies with unparalleled peace of mind through its PrivacyKey technology, which ensures compliance and privacy through a groundbreaking private/public key process that stores zero biometric data.

    “Passwordless authentication is more than a trend—it’s a transformational shift,” said Viresh Garg, SVP of Cybersecurity & Emerging Technologies at TechDemocracy. “By partnering with authID, we’re helping enterprises embrace secure, frictionless access experiences through identity proofing, all while bringing the speed, structure, and advisory depth customers expect from us.”

    As part of this partnership, TechDemocracy will also be developing a library of QuickStart accelerators to embed authID’s biometric verification and continuous user authentication capabilities into digital identity journeys built on Ping Identity and Microsoft Entra. These accelerators enable rapid deployment of secure, low-friction authentication flows for both Workforce IAM and CIAM use cases.

    “We’re excited to expand our partner portfolio with authID’s leading biometric solutions that complement and work with our existing identity security partners,” added Todd Rossin, CEO & Chief Strategy Officer of TechDemocracy. “This partnership broadens and strengthens the capabilities we provide our customers and further fosters the widespread adoption of passwordless security.”

    “We are thrilled to welcome TechDemocracy as a strategic partner,” said Rhon Daguro, CEO of authID. “Their deep IAM expertise and unique focus on usability, security, and cost optimization will empower more organizations to fully unlock the value of authID’s passwordless identity—enabling faster, smarter transitions to frictionless, yet highly secure authentication experiences.”

    As part of their collaboration, authID and TechDemocracy will co-author a series of white papers, co-host webinars, and lead roadshows to help organizations navigate the shift from passwords to modern, biometric-first authentication.

    In addition, TechDemocracy is offering a series of complimentary one-day workshops led by its Field CISO team to help organizations evaluate their access management strategy, assess their current platform investments, compare passwordless options, and understand best practices for implementing biometric-based authentication at scale.

    Connect with TechDemocracy about authID’s platforms by emailing authID@techdemocracy.com.

    About authID

    authID (Nasdaq: AUID) ensures enterprises “Know Who’s Behind the Device™” for every customer or employee login and transaction through its easy-to-integrate, patented biometric identity platform. authID powers biometric identity proofing in 700ms, biometric authentication in 25ms, and account recovery with a fast, accurate, user-friendly experience. With our ground-breaking PrivacyKey Solution, authID provides a 1-to-1-billion false match rate, while storing no biometric data. authID stops fraud at onboarding, blocks deepfakes, prevents account takeover, and eliminates password risks and costs, through the fastest, most frictionless, and most accurate user identity experience demanded by today’s digital ecosystem.

    For more information, please visit authid.ai.

    About TechDemocracy

    With over two decades of cybersecurity expertise and 1600+ global engagements, TechDemocracy specializes in workforce IAM and customer identity & access management (CIAM), governance, risk and compliance (GRC), holistic cybersecurity, and managed security services. Combining cutting-edge technology, certified experts, and proven processes, the company helps organizations secure their digital infrastructure and manage risk. Contact us to elevate your cybersecurity posture with us. With a global presence in the US, India, Canada, and the Philippines, TechDemocracy fully manages identity security solutions throughout the entire identity journey. For more information, visit www.techdemocracy.com

    Media Contacts

    NextTech Communications

    Walter Fowler
    1-631-334-3864
    wfowler@nexttechcomms.com

    Investor Relations Contacts
    Investor-Relations@authid.ai

    TechDemocracy

    Rashmi Shrivastava
    marketing@techdemocracy.com

    +1 732 404 8350

    The MIL Network

  • MIL-OSI: BigCommerce and Feedonomics Announce Winners of APAC Region Customer and Partner Awards to Honor Exceptional Contributions and Results in Ecommerce

    Source: GlobeNewswire (MIL-OSI)

    AUSTIN, Texas, April 29, 2025 (GLOBE NEWSWIRE) — BigCommerce (Nasdaq: BIGC), a leading provider of open, composable commerce solutions for B2C and B2B brands, retailers, manufacturers and distributors, today announced the winners of the 2025 BigCommerce and Feedonomics Customer and Partner Awards. The awards programs recognize the most innovative and inspiring customers and partners doing big things on the BigCommerce and Feedonomics platforms.

    “We’re proud to recognise the outstanding achievements of our BigCommerce and Feedonomics customers and partners across the APAC region, who continue to drive innovation, embrace cutting-edge strategies and deliver exceptional results,” said Shannon Ingrey, vice president and general manager of APAC at BigCommerce. “Our partners’ forward-thinking approaches from modernising systems play a vital role in helping brands thrive in the digital landscape and help our brands achieve their commerce goals. Our customers’ innovation and success on our platform inspire us every day.”

    This year’s APAC awards featured 16 categories across BigCommerce customers and partners and Feedonomics partners with applicants evaluated by a panel of BigCommerce and Feedonomics employees and executives. The awards recognized one winner for each category based on their accomplishments.

    2025 BigCommerce Customer Award Winners

    Achievement in Growth: Highlighting exceptional growth and success achieved with BigCommerce.

    B2B Excellence Award: Recognizing leadership in B2B ecommerce that redefines what’s possible

    Design Award: Celebrating captivating storefront designs that inspire and engage customers.

    Shopper Experience Award: Acknowledging exceptional customer and user experiences that set new standards.

    Innovation Award: Honoring cutting-edge solutions that push the boundaries of ecommerce.

    2025 BigCommerce Agency Partner Winners

    Agency Partner of the Year: Awarded to the partner with the best overall performance across metrics and collaboration efforts in APAC as a whole between January 1, 2024 – December 31, 2024.

    Agency B2B Excellence Award: Awarded to agency partners that have a background in B2B problem solving, efficiencies and utilize B2B-centric product features and who consistently demonstrate superiority at meeting the complex needs of BigCommerce’s B2B customers.

    User Experience & Design Award: Awarded to an agency partner who creates world-class, visually appealing designs that enhance user experience, drive interactivity, and increase conversions.

    Creative Problem Solving Award: Awarded to agency partners who have created a world class, visually appealing design that enhances the user experience and leads to higher interactivity and conversion.

    Excellence in Delivery Award: Awarded to agency partners that consistently demonstrate the ability to successfully launch their clients’ BigCommerce storefronts on time and on budget, with high levels of customer satisfaction.

    2025 BigCommerce Technology Partner Winners

    Tech Partner of the Year Award: Awarded to technology partners whose integration features a superior user experience demonstrated by a high volume of installation and positive user reviews plus successful co-marketing activity over the last year.

    Innovative Integration Award: Awarded to technology partners that have built a new integration or feature that solves a critical need for BigCommerce customers.

    Customer Growth Award: Awarded to technology partners whose outstanding solution has generated the most revenue growth for BigCommerce customers, while aligning with BigCommerce initiatives.

    User Experience Award: Awarded to technology partners whose integration delivers a best-in-class user experience based on simplicity of app install and configuration process, ease of use and beautiful design.

    2025 Feedonomics Partner Winners

    Feedonomics Partner of the Year: Awarded to the Omnichannel Certified Agency that sourced the highest revenue for Feedonomics. This award highlights agencies that demonstrate exceptional results and sustained impact on merchant success.

    Emerging Partner: Celebrates a rising agency partner that has shown exceptional promise and leadership. This award honors partners making a meaningful impact with innovative strategies and measurable results.

    To join the BigCommerce and Feedonomics ecosystem of agency and technology partners, click here.

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

    About Feedonomics
    Feedonomics is a leading data management platform powering omnichannel growth for the world’s top brands and retailers. With its flexible technology and full-service support team, Feedonomics facilitates a variety of data and order management use cases across industries such as ecommerce, automotive, employment, travel, real estate, and more. Feedonomics has thousands of active customers, integrations with hundreds of ecommerce platforms and channels, and strategic partnerships with industry leaders like Amazon, Meta, Google, Microsoft and TikTok. For more information, please visit www.feedonomics.com or follow us on X, LinkedIn, Instagram and Facebook.

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

    Media Contact:
    Brad Hem
    pr@bigcommerce.com

    The MIL Network

  • MIL-OSI: Aemetis to Benefit From EPA’s Approval of 15 Percent Ethanol Blend

    Source: GlobeNewswire (MIL-OSI)

    CUPERTINO, Calif., April 29, 2025 (GLOBE NEWSWIRE) — Aemetis, Inc. (NASDAQ: AMTX), a diversified global renewable natural gas and biofuels company, announced today that the U.S. Environmental Protection Agency (EPA) issued a waiver allowing a 15 percent blend of ethanol (E15) to continue to be sold after May 1st which will benefit the company through increased demand and sales of the renewable fuel nationwide. The average blend of ethanol in the U.S. in 2024 was 10.4% and 14.2 billion gallons. The adoption of E15 allows up to a 50% increase in the market for ethanol in the U.S.

    “The EPA’s action allowing nationwide E15 sales to continue is a significant step toward increasing the demand for ethanol and has broad support for permanent approval from the President, as well as numerous members of Congress,” stated Eric McAfee, Chairman and CEO of Aemetis. “Permanent national approval of E15 would allow the demand for ethanol to grow as consumers nationwide benefit from lower-cost, domestic, renewable fuel that lowers the price of gasoline and supports rural communities with good jobs throughout the country.”

    The EPA has indicated its intent to ensure that E15 remains available throughout the summer driving season. The EPA’s action applies throughout the United States, except California. The E15 blend is expected to help American drivers save money at the pump, reduce carbon emissions, strengthen rural economies, and enhance U.S. energy independence, according to the Renewable Fuels Association.

    California is now the only state in the US that has not approved the E15 blend and typically has the highest average gasoline prices nationwide. To address the situation, Governor Gavin Newsom earlier this year issued a letter to the California Air and Resources Board (CARB) requesting completion of the study required to adopt E15 in California.

    The adoption of a 15 percent ethanol blend in California is projected to create more than 600 million gallons per year of new biofuels demand and save consumers an estimated twenty cents per gallon, or approximately $2.7 billion at the pump each year, according to a UC Berkeley and US Naval Academy study. Californians would also benefit from reduced greenhouse gas emissions from the increased use of ethanol, and reduced exposure to benzene and other carcinogens in gasoline.

    Senate Bill 2707, the “Nationwide Consumer and Fuel Retailer Choice Act,” was recently introduced into the U.S. Congress by 14 senators. This bill proposes the permanent sale of year-round E15 throughout the United States, except in states such as California that have their own fuel regulations. The E15 blend is approved for use in more than 95 percent of vehicles on the road today, according to the EPA.

    About Aemetis

    Headquartered in Cupertino, California, Aemetis is a renewable natural gas and biofuels company focused on the operation, acquisition, development, and commercialization of innovative technologies that support energy independence and security. Founded in 2006, Aemetis operates and is expanding a California biogas digester network and pipeline system to convert dairy waste into renewable natural gas. Aemetis owns and operates a 65 million gallon per year ethanol production facility in California’s Central Valley near Modesto that also supplies about 80 dairies with animal feed. Aemetis owns and operates an 80 million gallon per year biofuels facility on the East Coast of India producing high quality distilled biodiesel and refined glycerin. Aemetis is developing a sustainable aviation fuel and renewable diesel biorefinery and a carbon sequestration project in California. For additional information about Aemetis, please visit www.aemetis.com.

    Safe Harbor Statement

    This news release contains forward-looking statements, including statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events or other statements that are not historical facts. Forward-looking statements include, without limitation, projections of financial results; statements related to the development, engineering, financing, construction, timing, and operation of biodiesel, biogas, sustainable aviation fuel, CO2 sequestration, and other facilities; our ability to promote, develop, finance, and construct such facilities; and statements about future market demand and market prices and results of government actions. Words or phrases such as “anticipates,” “may,” “will,” “should,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “targets,” “view,” “will likely result,” “will continue” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on current assumptions and predictions and are subject to many risks and uncertainties. Actual results or events could differ materially from those set forth or implied by such forward-looking statements and related assumptions due to certain factors, including, without limitation, competition in the ethanol, biodiesel and other industries in which we operate, commodity market risks including those that may result from current weather conditions, financial market risks, customer adoption, counter-party risks, risks associated with changes to government policy or regulation, and other risks detailed in our reports filed with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, and in our other filings with the SEC. We are not obligated, and do not intend, to update any of these forward-looking statements at any time unless an update is required by applicable securities laws.

    Company Investor Relations
    Media Contact:
    Todd Waltz
    (408) 213-0940
    investors@aemetis.com

    External Investor Relations
    Contact:
    Kirin Smith
    PCG Advisory Group
    (646) 863-6519
    ksmith@pcgadvisory.com

    The MIL Network

  • MIL-OSI: Kaltura Announces “Connect on the Road 2025” Conference Schedule: Join Experts from IBM, AWS, JPMorgan Chase & Co, Bloomberg, Adobe, and more in Exploring Digital Immortality and Institutional Knowledge Activation in the Age of Agentic AI

    Source: GlobeNewswire (MIL-OSI)

    New York, April 29, 2025 (GLOBE NEWSWIRE) — Kaltura (Nasdaq: KLTR), the AI Video Experience Cloud, today announced the lineup of speakers for the company’s annual Connect on the Road conference. Coming to New York (May 13th), San Francisco (May 15th), and London (May 20th), the sessions will focus on “Digital Immortality” and how AI is reshaping the ways organizations are creating living content archives to fuel smarter decisions and continuous personalization. 

    “Every enterprise knows that knowledge, whether institutional, operational, customer-centric or otherwise, drives business growth”, said Nohar Zmora, SVP Head of Marketing at Kaltura. “Digital immortality is about more than preserving information, it’s about using AI to make knowledge accessible, actionable, and alive across the enterprise. When AI becomes a strategic layer in the video database, it shapes employee and customer experiences, accelerates learning, and enables personalization we’ve never seen before.”  

    With hundreds of executives and leaders in Marketing, Communications, and Enterprise Media expected to attend, guests will have the opportunity to hear from some of the expert voices leading AI-driven transformations within their organizations, including: 

    • Toni VanWinkle, Vice President Digital Employee Experience, Adobe 
    • Phil Le-brun, Director, Enterprise Strategy, AWS 
    • Bill Macaitis, Advisor, former CMO, Slack & Zendesk 
    • Judy Lee, Senior Director, Global Brand Experiences, Pinterest 
    • Bruce Ableson, Senior Director of Global Readiness and Enablement, Adobe  
    • Viral Sanghvi, Senior Manager, Global Sales & Communications Platforms, Vanguard 
    • Davood Shamsi, Director of AI/ML, JPMorgan Chase & Co.  
    • RJ Crowder-Schaefer, Global Head of Event Product & Technology, Bloomberg  
    • Jennifer Sacks Tobener, VP, Digital & Marketing Technology, Salesforce 
    • Rodrigo Davies, AI Product Leader, Figma 
    • Amy Tennison, VP of TechXchange, IBM 
    • Unmesh Suryawanshi, Head of Streaming and Security, Visa 
    • Chris Hamilton, Senior Global Communications Director, AstraZeneca Pharmaceuticals 
    • Santiago Casto, Global Head of Automation and AI, MUFG 

    Among the topics that will be explored are: 
    1) Agentic AI that can think and execute decisions is turning corporate knowledge into a proactive, hyper-personalized, intelligent system.  
    2) Transforming content into “Living archives” with content that self-updates, contextualizes insights, and delivers hyper-relevant knowledge based on a user’s real-time needs.  
    3) Creating enduring, engaging institutional memory sources that don’t disappear with employee turnover but scale across teams, leveraging proven messaging and strategies.  
    4) Ensuring brand continuity with consistent messaging across customer and user interactions to enhance engagement.  
    5) Tackling AI ethics & ownership questions, such as who controls knowledge? How can organizations shape, govern, and direct AI-driven decision-making?  

    Attendees will also get front-row, hands-on demos of several of Kaltura’s next-generation AI platform’s new capabilities, including the Customer Experience Genie and Work Genie AI agents. These agents redefine and hyper-personalize customer engagement, employee onboarding and training by transforming search within a video library into interactive, conversational journeys tailored to each user. The Kaltura Content Lab, also available for demo, enables creators to quickly transform long-form video content into engaging, bite-sized experiences. With a single click, Content Lab generates clips, video quizzes, summaries, and chapters from videos and audio, saving time, reducing costs, and maximizing content value. These products mark a shift from passive video consumption into active, personalized experiences, reflecting Kaltura’s differentiated approach to AI – rooted in a proprietary cloud-based database, built for secure enterprise environments, and designed to transform passive content into actionable business value.  

    Kaltura will also be hosting its Education Connect on the Road track in both Europe and the US, kicking off in Utrecht, Netherlands, on May 12th. The events will bring together leaders in higher education to share insights on how they are using AI and additional new technologies to improve education, increase engagement, and more. See more locations and details here

    Reserve your spot at a location that works for you here

    About Kaltura 
    Kaltura’s mission is to create and power AI-infused hyper-personalized video experiences that boost customer and employee engagement and success. Kaltura’s AI Video Experience Cloud includes a platform for enterprise and TV content management and a wide array of Gen AI-infused video-first products, including Video Portals, LMS and CMS Video Extensions, Virtual Events and Webinars, Virtual Classrooms, and TV Streaming Applications. Kaltura engages millions of end-users at home, at work, and at school, boosting both customer and employee experiences, including marketing, sales, and customer success; teaching, learning, training and certification; communication and collaboration; and entertainment, and monetization. For more information, visit www.corp.kaltura.com

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  • MIL-OSI: Rate Launches ‘Rate Portfolio’ to Deliver Flexible Mortgage Financing Solutions for Modern Borrowers

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, April 29, 2025 (GLOBE NEWSWIRE) — Rate, a leader in fintech mortgage solutions, today announced the launch of Rate Portfolio, a suite of flexible mortgage products created to meet the needs of today’s increasingly diverse borrower landscape. Rate Portfolio offers customized financing solutions that move beyond rigid income qualifications and traditional lending limitations, enabling more people to realize their homeownership goals.

    Rate Portfolio reflects a significant step forward in Rate’s product strategy, designed specifically for self-employed individuals, small business owners, freelancers, property investors, and other well-qualified borrowers whose financial profiles don’t align with conventional standards.

    “At Rate, we think that homeownership should be accessible to well-qualified borrowers, regardless of how their income is structured,” said Shant Banosian, President of Rate. “Rate Portfolio lets us serve entrepreneurial borrowers with lending solutions tailored to their unique financial situations.”

    The suite includes four primary offerings:

    • Rate Portfolio Self-Employed – Accepts flexible income documentation to qualify on business cash flow
    • Rate Portfolio Assets – Allows qualification based on assets alone or to supplement other types of income
    • Rate Portfolio Investor – Qualifies solely on property cash flow
    • Rate Portfolio Buy Before You Sell – Enables a new home purchase without needing to sell a current home first

    These custom loan products offer significant advantages in a competitive purchase market, giving buyers tools to make non-contingent offers and move quickly without traditional financing roadblocks.

    “We’ve listened to the market and built Rate Portfolio to serve the real-world needs of modern borrowers,” said Kate Amor, EVP, Head of Enterprise Products at Rate. “From property investors and sole proprietors, to entrepreneurs and gig workers, or borrowers with significant assets, Rate Portfolio unlocks common-sense financing options that weren’t previously accessible to hardworking Americans through traditional lending channels.”

    According to recent data, investment purchases by small and mid-sized investors represented roughly 25% of U.S. home sales last year, demonstrating the growing need for products like Rate Portfolio Investor. Additionally, the self-employed and gig economy workforce is expanding faster than the overall labor force, requiring lenders to rethink how creditworthiness is evaluated.

    As borrower profiles and income structures continue to shift, lenders who offer responsible and common-sense financing solutions stand out. Rate Portfolio is built around this philosophy—accommodating each borrower’s unique and often complex financial situation to make homeownership more accessible for well qualified borrowers.

    To learn more, please visit: https://rate.com/lp/rate-portfolio

    About Rate

    Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, Rate has over 850 branches across all 50 states and Washington D.C. Since its launch in 2000, Rate has helped more than 2 million homeowners with home purchase loans and refinances. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates, and delivering unparalleled customer service. Honors and awards include: Top 5 Mortgage Lender by Inside Mortgage Finance for 2024; Best Mortgage Lender for First-Time Homebuyers by NerdWallet for 2023; HousingWire’s Tech100 award for the company’s industry-leading FlashClose℠ digital mortgage platform in 2020, MyAccount in 2022, and Language Access Program in 2023; the most Scotsman Guide Top Originators for 11 consecutive years; Chicago Agent Magazine’s Lender of the Year for seven consecutive years; and Chicago Tribune’s Top Workplaces list for seven straight years. Visit rate.com for more information.

    Press Contact

    press@rate.com

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  • MIL-OSI: QuestionPro and PerformancePoint LLC Partner to Drive Business Transformation with Data-Driven Cultures, Leadership, and Engagement

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, April 29, 2025 (GLOBE NEWSWIRE) — QuestionPro, a global leader in online survey and research services, is joining forces with PerformancePoint LLC, a premier consulting firm specializing in culture, leadership and engagement, to revolutionize the way organizations turn insights into action.

    This partnership goes beyond traditional employee engagement surveys and culture assessments—it provides real-time, actionable intelligence that fuels meaningful transformation. By integrating QuestionPro’s advanced employee experience and data management platform with PerformancePoint’s deep expertise in leadership and culture consulting, businesses gain a powerful, end-to-end solution to drive long-term success.

    What makes this partnership different?

    • Beyond Data, Towards Action: Most engagement surveys stop at data collection. This collaboration ensures that insights are not just gathered but translated into sustainable cultural change.
    • Real-Time Decision-Making: Organizations can access live dashboards and predictive analytics to make proactive decisions that improve employee and customer experiences.
    • A Science-Backed, Human-Centered Approach: Combining novel technology with hands-on consulting means companies don’t just react to problems—they prevent them.
    • True Culture Transformation: Instead of surface-level fixes, businesses get a proven methodology to build resilient, high-performing teams.

    “For companies committed to creating and sustaining high–performance cultures, our collaboration with PerformancePoint provides new tools,” said Arti Bedi Pullins, President at QuestionPro. “This partnership ensures organizations don’t just track engagement—they create workplaces where employees thrive and customers stay loyal.”

    “At PerformancePoint, we know that culture isn’t just a buzzword—it’s the backbone of successful businesses,” said Brad Federman, CEO of PerformancePoint LLC. “With QuestionPro’s technology and our consulting expertise, we help companies unlock the full potential of their people, transforming engagement into a competitive advantage.”

    This partnership is designed for organizations that want to maximize ROI on employee engagement and leadership development, reduce costly turnover, and build cultures that sustain business success in an ever-changing world.

    About QuestionPro
    Founded in 2006, QuestionPro is a global provider of online survey and research services that help companies make better decisions through data. Our fully integrated online platform includes surveys, research & insights, customer experience (CX) and workforce/employee experience software. We additionally offer polling, journey mapping, employee 360s, and data visualization. Our clientele ranges from small businesses to Fortune 100 companies, who rely on us for insights about customers, employees, and the marketplace. With offices in the US, Canada, Mexico, U.K., Germany, Japan, Australia, the United Arab Emirates and India, we offer customers 24-7 access to highly trained support specialists and engineers. More information is available at https://www.questionpro.com/us/

    About PerformancePoint LLC
    PerformancePoint LLC is a top-tier consulting firm specializing in employee and customer experience. With expertise in culture transformation, leadership development, and engagement strategies, PerformancePoint helps organizations create environments where employees and businesses thrive.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/06a2f5fe-b0f1-4e33-a5e3-5965a4690110

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  • MIL-OSI: As European carmakers navigate the autonomous car race, Lighty’s new AI edge software offers them a lifeline amid rising tariffs

    Source: GlobeNewswire (MIL-OSI)

    Zurich, April 29, 2025 (GLOBE NEWSWIRE) — As European automakers face increasing tariffs and mounting pressure from American and Asian competitors in the autonomous driving race, leading Swiss AI startup Lightly today launches LightlyEdge – a groundbreaking edge-based data collection solution that could help level the playing field. At a time when Bosch is cutting 12,000 jobs and Mercedes is offering up to €500,000 for voluntary exits, clearly being effective and efficient matters for automotive companies. Lightly’s innovation tackles a critical bottleneck in AI development: capturing only the data that truly matters, directly at the source. This offers a strategic advantage at a time when workforce reductions threaten to slow in-house development and widen the gap with faster-moving rivals.

    As companies around the world race to develop safer autonomous vehicles, the fundamental challenge remains the same: they are drowning in data and the resulting costs. While collecting large volumes of data is essential, the difficulty lies in identifying what’s truly relevant. As AI models grow more sophisticated, so does the redundancy in the data feeding them. LightlyEdge solves this problem by making intelligent decisions about what data to keep at the moment of capture, before it enters the storage and processing pipeline.

    The LightlyEdge data collection report. 

    LightlyEdge deploys intelligent models directly onto vehicles’ cameras and sensors. The system revolutionizes data collection by analyzing video footage in real-time as it’s being captured, automatically identifying rare and valuable scenarios – like a child at a crossroad or an accident in snowy conditions – while ignoring redundant data that adds no value to training datasets. This approach dramatically slashes unnecessary storage and bandwidth costs while ensuring training datasets become more comprehensive, diverse, and optimized for real-world driving conditions.

    “This launch is a fantastic opportunity to increase development cycles for autonomous driving and driving assistance,” said Matthias Heller, Co-Founder of Lightly. “With LightlyEdge, our partners can harness smarter, real-time data collection that not only accelerates AI model training but also provides a competitive edge against established industry giants. By focusing on quality data from uncommon scenarios and hazards, we’re empowering a new era of innovation that will drive the future of mobility.”

    Lightly founders Matthias Heller and Igor Susmelj.

    The timing of LightlyEdge’s release is particularly significant. European automotive manufacturers are working to maintain their position against competitors like Tesla, whose innovative “Active Learning” approach – feeding only the most valuable data into AI models – has become a benchmark for the industry. While European companies have a rich history of engineering excellence, they now have an opportunity to leverage artificial intelligence’s potential to overhaul their operations.

    LightlyEdge captures data from cameras. 

    Building on what Lightly already achieved with LightlyOne in data centers, this new product shifts the intelligence right to where it’s needed – the edge devices in vehicles themselves. LightlyEdge gives developers real-time feedback and smart capture capabilities directly on the road. With its easy-to-use interface, teams can quickly deploy their AI models, keep an eye on them, and make them better over time – all of which dramatically speeds up how fast they can bring innovations to life.

    That speed is becoming essential. As European carmakers are feeling the squeeze from global competitors and tough trade barriers.LightlyEdge offers them a way to innovate faster while keeping costs down. By being smarter about what data they collect, these manufacturers can build better autonomous driving systems in less time and with fewer resources. This might be exactly what they need to win the autonomous car race.

    Ends

    Media images are here 

    About Lightly
    Lightly was founded in Zurich, Switzerland by Matthias Heller and Igor Susmelj, former ETH and Harvard students who worked in autonomous driving and research on computer vision and deep learning. 

    Lightly helps companies to build better machine learning models faster through better data. Data to train machine learning models is currently the biggest bottleneck in AI development. Today, Lightly is used by Fortune 500 companies and startups in autonomous driving, robotics, and video analytics. For more information, please visit https://www.lightly.ai/ or follow the company on Twitter, LinkedIn or Facebook

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  • MIL-OSI: Northstrive Biosciences Strengthens IP Portfolio with New US Patent Filings for EL-22 and EL-32 Programs Covering Obesity and Animal Health

    Source: GlobeNewswire (MIL-OSI)

    NEWPORT BEACH, Calif., April 29, 2025 (GLOBE NEWSWIRE) — Northstrive Biosciences Inc. (“Northstrive”), a subsidiary of PMGC Holdings Inc. (NASDAQ: ELAB) (the “Company,” “PMGC,” “we,” or “our”), today announced the filing of four novel patent applications for its two candidates EL-22 and EL-32. These patent applications cover the animal market, as well as treating muscle loss in obese patients, both as standalone and combination therapies alongside GLP-1 receptor agonists.

    The Company filed the following four patents today:

    • EL-22 in Animals: Fusion Protein of Myo-2 for Use in Encouraging Muscle Growth in Animals (Patent Application No. 19/191,246).
    • EL-32 in Obesity as Monotherapy and Combination with GLP-1: Updated patent filings for Pharmaceutical Composition for Treatment of Muscle Loss Due to Obesity Treatments (Patent Application No. 19/191,209), and Combination Therapy for Treatment of Muscle Loss Due to Obesity Treatments utilizing GLP-1 receptor agonists (Patent Application No. 19/191,226).
    • EL-32 in Animals: Animal Feed Additive to Encourage Muscle Growth (Patent Application No. 19/191,258).

    The Company believes these newly filed patent applications support the development of Northstrive’s engineered probiotic platform, designed to advance human obesity care by preserving muscle mass while reducing fat mass, with additional potential applications in animal health.

    “We believe that EL-22 and EL-32 have the potential to treat obesity in combination with GLP-1 receptor agonists, while also serving as the foundation to a potential range of animal health products”, said Deniel Mero, Co-Founder of Northstrive. “These patent applications strengthen our IP portfolio as we advance on our mission transform the standard of care for obesity and break into the animal health market.”

    Northstrive’s patent portfolio now includes 8 patent applications and 5 issued patents that provide adequate protection in focus markets, including the USA, Japan, China and Korea.

    Licensed Product /
    Nation
    Patent Application
    Serial No.
    Title:
    EL-32 USA US 18/627,462 Pharmaceutical composition for alleviation, treatment, and prevention of sarcopenia containing microorganism transformed with cell surface display vector operably linked with gene encoding myostatin and activin A proteins as active ingredient
    EL-32 Korea 10-2022-0136606 A pharmaceutical composition for alleviation, treatment and prevention of sarcopenia containing a microorganism transformed with a vector expressing myostatin and activin A on the cell surface as an active ingredient
    EL-22 USA US 18/895,501 Fusion Protein of Myo-2 for Use in Treating Muscle Loss in Obese Patients
    EL-22 USA US 18/895,519 Combination Therapy of a Fusion Protein of Myo-2 with a GLP-1 Receptor Agonist for Use in Treating Muscle Loss in Obese Patients
    EL-22 (Animals)
    USA
    US 19/191,246 Fusion Protein of Myo-2 for Use in Encouraging Muscle Growth in Animals
    EL-32 USA US 19/191,209 Pharmaceutical Composition for Treatment of Muscle Loss Due to Obesity Treatments
    EL-32 USA US 19/191,226 Combination Therapy for Treatment of Muscle Loss Due to Obesity Treatments utilizing GLP-1 receptor agonists
    EL-32 (Animals) USA 19/191,258 Animal Feed Additive to Encourage Muscle Growth
         
    Patent No. Registration No. Title:
    EL-22 Korea 10-0857861-0000 Surface Expression Vector for Fusion Protein of Myo-2 Peptide Multimer and Myostatin, and Microorganism Transformed by Thereof
    EL-22 Korea 10-0872042-0000 Cell Surface Expression Vector of Myostatin and Microorganisms Transformed Thereby
    EL-22 USA US 8470551 Surface Expression Vector for Fusion Protein of Myo-2 Peptide Multimer and Myostatin, and Microorganism Transformed by Thereof
    EL-22 Japan US 5634867 Surface Expression Vector for Fusion Protein of Myo-2 Peptide Multimer and Myostatin, and Microorganism Transformed by Thereof
    EL-22 China ZL200780101116.2 Surface Expression Vector for Fusion Protein of Myo-2 Peptide Multimer and Myostatin, and Microorganism Transformed by Thereof


    About Northstrive Biosciences Inc.

    Northstrive Biosciences Inc., a PMGC Holdings Inc. company, is a biopharmaceutical company focusing on the development and acquisition of cutting-edge aesthetic medicines. Northstrive’s lead asset, EL-22, leverages an engineered probiotic approach to address obesity’s pressing issue of preserving muscle while on weight loss treatments, including GLP-1 receptor agonists. For more information, please visit www.northstrivebio.com.

    About PMGC Holdings Inc.

    PMGC Holdings Inc. is a diversified holding company that manages and grows its portfolio through strategic acquisitions, investments, and development across various industries. Currently, our portfolio consists of three wholly owned subsidiaries: Northstrive Biosciences Inc., PMGC Research Inc., and PMGC Capital LLC. We are committed to exploring opportunities in multiple sectors to maximize growth and value. For more information, please visit https://www.pmgcholdings.com.

    Forward-Looking Statements

    Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as “believes,” “expects,” “plans,” “potential,” “would” and “future” or similar expressions such as “look forward” are intended to identify forward-looking statements. Forward-looking statements are made as of the date of this press release and are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, activities of regulators and future regulations and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results. Therefore, you should not rely on any of these forward-looking statements. These and other risks are described more fully in PMGC’s filings with the United States Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 28, 2025, and its other documents subsequently filed with or furnished to the SEC. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    IR Contact:
    IR@pmgcholdings.com

    The MIL Network

  • MIL-OSI: Employ’s Latest Report on Job Seeker Insights Helps Recruiters Fine-Tune Processes, Personalize Outreach and Stay Ahead of Hiring Trends

    Source: GlobeNewswire (MIL-OSI)

    DENVER, April 29, 2025 (GLOBE NEWSWIRE) — Employ Inc., the market-leading intelligent hiring suite, announces today the release of the 2025 Job Seeker Nation report, providing a data-driven look into how job seekers perceive the market, candidates’ perspectives on AI, what makes employees leave or stay, what workers value in a role, how to win over candidates in a job search, and workers’ opinions on compensation.

    The annual report, this year titled “Job Market Truths—What’s Driving Candidates in 2025,” gathered responses from 1,500+ US adults, capturing a diverse range of individuals who are currently employed full-time, part-time, or actively seeking work. Findings reflect both year-over-year comparisons to 2024 data and insights from new questions introduced in 2025, particularly around AI usage, trust in the hiring process, and candidate communication preferences.

    “The hiring landscape remains volatile, and today’s talent environment demands more agility and insight than ever before,” said Stephanie Manzelli, Chief Human Resources Officer, Employ. “We’ve seen recruiting teams navigate everything from mass layoffs to widespread burnout—and it’s clearer than ever that understanding what candidates expect and value is essential to building resilient, high-performing teams. The 2025 Job Seeker Nation report offers critical intelligence into candidate sentiment—ranging from job satisfaction and openness to new roles, to communication preferences and flexibility needs—equipping hiring teams with the data they need to engage smarter, act faster, and deliver stronger outcomes.”

    This year’s report reveals critical insights into what candidates value most—insights that today’s recruiters can use to gain a competitive edge. With 66 percent of job seekers reporting burnout, there’s a clear opportunity for hiring teams to stand out by creating a more thoughtful, human-centered candidate experience. In a market shaped by layoffs, economic uncertainty, and evolving expectations, one truth remains: putting people first is not just a best practice—it’s a strategic advantage.

    “The skills market can feel a lot like matchmaking—every hiring manager is looking for something different,” said Tim Sackett, Talent Acquisition & HR Analyst, HRU Technical Resources. “As a recruiter, the challenge isn’t reshaping candidates to fit shifting expectations but recognizing and championing the strengths that make them stand out. Focus on what candidates are genuinely great at and passionate about. When you align talent with opportunity—not just requirements—you’ll find better fits and better outcomes.”

    Additional findings from the report:

    How Job Seekers Perceive Today’s Market

    • Fewer respondents now say it’s easy to find a new job (44 percent, down from 50 percent), and confidence in landing a role within three months has also dipped (56 percent, down from 61 percent).
    • While 56 percent believe the current job market favors candidates, 82 percent are worried about a “white-collar recession.”
    • Eighty-one percent of respondents believe it’s important to get trained in new technologies like AI in order to secure a job this year, and 89 percent of respondents agree that being able to address skills gaps for employers can improve their odds of moving into a new role this year

    Candidate Perspectives on AI

    • About one-third of respondents (31 percent) say they’re using AI to support their job search—an increase of 7 percentage points from last year.
    • AI usage is notably higher among candidates in desk-based or white-collar roles, especially those in software/technology/IT (50 percent) and finance/insurance/accounting (47 percent).
    • Most respondents (58 percent)​ trust HR pros more than AI to guide them through the hiring journey, and​ 61 percent see potential for AI to help reduce bias during that process.

    Motivations for Leaving a Job (or Staying)

    • Eighty-two percent of respondents said they were either very or somewhat satisfied with their current job, yet 85 percent were open to other opportunities.
    • Nearly half (42 percent) reported they were actively looking for a new job.
    • Other than higher compensation, the top two responses for why respondents are actively looking for a new job included career advancement (53 percent) and more work flexibility or remote opportunities (46 percent), with better company leadership (33 percent) and better company culture (32 percent) also resonating.

    What Candidates Value in a Role Today

    • Twenty percent would decline a job if it required full-time, on-site work, and 63 percent say remote work is at least somewhat important when considering whether to accept or decline an offer.
    • Among candidates who had declined a job offer in the last 12 months—nearly 40 percent cited limited career advancement or poor location/geography as the reason.
    • Thirty-six percent of respondents reported having left a job in the first 90 days due to a “mismatch in hiring process,” or a disconnect between what they were told while interviewing and the reality of the role once they were on the job.

    Winning Candidates Over During the Job Search

    • Nearly three-quarters (71 percent) of respondents expect the application process to take less than 30 minutes, and 35 percent said they would abandon an application if it took too long.
    • Among candidates who interacted with a chatbot during recruitment, 66 percent said it either somewhat or significantly improved their experience.
    • When asked what has the greatest impact on a candidate’s impression of a company during the interview process, the top response by far was an easy application process, selected by 43 percent of respondents.

    How Candidates Feel about Compensation (Is it Fair?)

    • Eighty percent of respondents said the salary offer for their current or most recent role met or exceeded their expectations.
    • Meanwhile, 48 percent of respondents noticed increased salaries for job postings similar to their current role.
    • Thirty-seven percent of respondents said they had negotiated their salary—up from 29 percent in 2017 and in almost 80 percent of negotiations, candidates report winning higher pay, and two-thirds of those received increases between 5 and 10 percent.

    Candidate Perspectives on AI

    • About one-third of respondents (31 percent) say they’re using AI to support their job search—an increase of 7 percentage points from last year.
    • AI usage is notably higher among candidates in desk-based or white-collar roles, especially those in software/technology/IT (50 percent) and finance/insurance/accounting (47 percent).
    • Most respondents (58 percent)​ trust HR pros more than AI to guide them through the hiring journey, and​ 61 percent see potential for AI to help reduce bias during that process.

    For more insights into evolving workforce expectations, download the full 2025 Job Seeker Nation Report and register for Employ’s upcoming webinar on May 13, 2025, at 2 p.m. ET. Moderated by Stephanie Manzelli, Chief Human Resources Officer at Employ, the session will feature expert perspectives from Madeline Laurano (Aptitude Research), Allie Wehling (Cisco), and Neil Lenane (Progressive).

    About Employ Inc:
    Employ delivers people-first recruiting solutions that empower companies to overcome their greatest hiring challenges. From startups to Fortune 100 organizations, Employ meets companies where they are—offering tailored solutions that support everything from foundational hiring to advanced talent acquisition strategies. Employ is the only organization to offer companies choice in their hiring technology, providing three unique ATS solutions (JazzHR, Lever, and Jobvite) and AI companions. Our intelligent hiring suite is trusted by more than 23,000 customers across multiple industries. For more information, visit www.employinc.com.

    Employ Media Contact:
    Kalyn Stebbins
    Kalyn.stebbins@employinc.com
    317-440-8425

    The MIL Network

  • MIL-OSI: Franklin Electric Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    First Quarter 2025 Highlights

    • Consolidated net sales of $455.2 million, a decrease of 1% to the prior year
    • Energy Systems net sales increased 8% while Water Systems net sales were up less than 1% and Distribution net sales declined 3%
    • Operating income was $44.1 million with operating margin of 9.7%
    • GAAP fully diluted earnings per share (EPS) was $0.67

    FORT WAYNE, Ind., April 29, 2025 (GLOBE NEWSWIRE) — Franklin Electric Co., Inc. today announced its first quarter financial results for fiscal year 2025.

    First quarter 2025 net sales were $455.2 million, compared to first quarter 2024 net sales of $460.9 million. First quarter 2025 operating income was $44.1 million, compared to first quarter 2024 operating income of $47.9 million. First quarter 2025 EPS was $0.67, versus EPS in the first quarter 2024 of $0.70.

    “Our underlying businesses performed largely as expected in the first quarter.   Order trends remain positive, supporting a robust backlog as we enter the second quarter. Furthermore, strong performance in our Energy Systems segment helped offset unfavorable weather impacting our Distribution business, underscoring the value of our diversified global portfolio. One-time expenses associated with our executive transition and recent acquisitions presented earnings headwinds during the quarter, but our operating strength was clear,” commented Joe Ruzynski, Franklin Electric’s CEO.

    “During the quarter, we continued to invest in growth by completing two acquisitions, in line with our value creation framework. We look forward to deploying our integration playbook and enhancing the margin profiles of these great businesses. Despite uncertainty in the macroeconomic environment and potential tariffs, we are confident in Franklin Electric’s competitive position with strong brands, leading service, and a healthy operating footprint as we continue to execute our strategic priorities,” concluded Mr. Ruzynski.

    Segment Summaries

    Water Systems net sales were $287.3 million in the first quarter, an increase of $0.7 million or less than 1 percent compared to the first quarter of 2024. Results were driven by the incremental sales impact of recent acquisitions and higher sales of groundwater products, water treatment products and large dewatering pumps. These sales increases were partially offset by the negative impact of foreign currency translation and lower sales of all other surface products. Water Systems operating income in the first quarter of 2025 was $43.4 million. First quarter 2024 Water Systems operating income was $47.1 million.

    Distribution net sales were $141.9 million, a decrease of $5.1 million or 3 percent compared to the first quarter 2024. Sales decreases were driven by lower volumes and continued negative pricing. The Distribution segment operating income in the first quarter 2025 was $2.1 million. First quarter 2024 Distribution operating income was $1.8 million.

    Energy Systems net sales were $66.8 million in the first quarter 2025, an increase of $4.7 million or 8 percent compared to the first quarter 2024. Sales increases were driven by higher volumes and price realization. Energy Systems operating income in the first quarter of 2025 was $21.9 million. First quarter 2024 Energy Systems operating income was $18.8 million.

    Cash Flow

    Net cash flows used in operating activities for the first quarter of 2025 were $19.5 million versus $1.4 million in the same period in 2024.

    2025 Guidance

    The Company is maintaining its guidance for full year 2025 sales to be in the range of $2.09 billion to $2.15 billion and reducing the low end of its earnings guidance and now expects full year 2025 EPS to be in the range of $3.95 to $4.25.

    Earnings Conference Call

    A conference call to review earnings and other developments in the business will commence at 9:00 am ET. The first quarter 2025 earnings call will be available via a live webcast. The webcast will be available in a listen only mode by going to:

    https://edge.media-server.com/mmc/p/yzximy3p

    For those interested in participating in the question-and-answer portion of the call, please register for the call at the link below.

    https://register-conf.media-server.com/register/BI5cb1cdcef9da4de38184396c5211b443

    All registrants will receive dial-in information and a PIN allowing them to access the live call. It is recommended that you join 10 minutes prior to the event start (although you may register and dial in at any time during the call).

    A replay of the conference call will be available from Tuesday, April 29, 2025, through 9:00 am ET on Tuesday, May 6, 2025, by visiting the listen-only webcast link above.

    Forward Looking Statements

    “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including those relating to market conditions or the Company’s financial results, costs, expenses or expense reductions, profit margins, inventory levels, foreign currency translation rates, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including but not limited to, risks and uncertainties with respect to general economic and currency conditions, various conditions specific to the Company’s business and industry, weather conditions, new housing starts, market demand, competitive factors, changes in distribution channels, supply constraints, effect of price increases,  raw material costs, technology factors, integration of acquisitions, litigation, government and regulatory actions, changes in tariffs or the impact of any such changes on the Company’s financial results, the Company’s accounting policies, future trends, epidemics and pandemics, and other risks which are detailed in the Company’s Securities and Exchange Commission filings, included in Item 1A of Part I of the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2024, Exhibit 99.1 attached thereto and in Item 1A of Part II of the Company’s Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements.

    About Franklin Electric

    Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and energy. Recognized as a technical leader in its products and services, Franklin Electric serves customers around the world in residential, commercial, agricultural, industrial, municipal, and fueling applications. Franklin Electric is proud to be named in Newsweek’s lists of America’s Most Responsible Companies and Most Trustworthy Companies for 2024 and America’s Climate Leaders 2024 by USA Today.

    Franklin Electric Contact:

    Russ Fleeger
    Franklin Electric Co., Inc.
    InvestorRelations@fele.com

     
    FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF INCOME
    (Unaudited)
           
    (In thousands, except per share amounts)      
           
      First Quarter Ended
      March 31, 2025   March 31, 2024
           
    Net sales $ 455,247     $ 460,900  
           
    Cost of sales   291,344       297,320  
           
    Gross profit   163,903       163,580  
           
    Selling, general, and administrative expenses   119,643       115,644  
           
    Restructuring expense   159        
           
    Operating income   44,101       47,936  
           
    Interest expense   (1,799 )     (1,448 )
    Other income, net   843       706  
    Foreign exchange expense, net   (1,293 )     (4,880 )
           
    Income before income taxes   41,852       42,314  
           
    Income tax expense   10,478       9,222  
           
    Net income $ 31,374     $ 33,092  
           
    Less: Net income attributable to noncontrolling interests   (412 )     (133 )
           
    Net income attributable to Franklin Electric Co., Inc. $ 30,962     $ 32,959  
           
    Earnings per share:      
    Basic $ 0.67     $ 0.71  
    Diluted $ 0.67     $ 0.70  
           
    FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (Unaudited)
           
    (In thousands)      
           
      March 31, 2025   December 31, 2024
    ASSETS      
           
    Cash and cash equivalents $ 83,994     $ 220,540  
    Receivables (net)   271,688       226,826  
    Inventories   560,338       483,875  
    Other current assets   40,627       32,950  
    Total current assets   956,647       964,191  
           
    Property, plant, and equipment, net   236,732       223,566  
    Lease right-of-use assets, net   60,294       62,637  
    Goodwill and other assets   675,199       570,212  
    Total assets $ 1,928,872     $ 1,820,606  
           
           
    LIABILITIES AND EQUITY      
           
    Accounts payable $ 190,295     $ 157,046  
    Accrued expenses and other current liabilities   125,316       139,989  
    Current lease liability   18,688       18,878  
    Current maturities of long-term debt and short-term borrowings   149,730       117,814  
    Total current liabilities   484,029       433,727  
           
    Long-term debt   14,858       11,622  
    Long-term lease liability   41,382       43,304  
    Deferred income taxes   32,718       10,193  
    Employee benefit plans   30,046       29,808  
    Other long-term liabilities   24,544       22,118  
     
    Redeemable noncontrolling interest   1,373       1,224  
           
    Total equity   1,299,922       1,268,610  
    Total liabilities and equity $ 1,928,872     $ 1,820,606  
           
    FRANKLIN ELECTRIC CO., INC. AND CONSOLIDATED SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited)
      Three Months Ended
    (In thousands)      
      March 31, 2025   March 31, 2024
    Cash flows from operating activities:      
    Net income $ 31,374     $ 33,092  
    Adjustments to reconcile net income to net cash flows from operating activities:      
    Depreciation and amortization   14,433       13,792  
    Non-cash lease expense   5,241       5,194  
    Share-based compensation   4,962       4,042  
    Other   1,080       4,036  
    Changes in assets and liabilities:      
    Receivables   (29,376 )     (43,365 )
    Inventory   (43,669 )     (28,105 )
    Accounts payable and accrued expenses   (3,744 )     8,576  
    Operating leases   (5,091 )     (5,305 )
    Other   5,322       6,681  
           
    Net cash flows from operating activities   (19,468 )     (1,362 )
           
    Cash flows from investing activities:      
    Additions to property, plant, and equipment   (6,836 )     (9,184 )
    Proceeds from sale of property, plant, and equipment   397       102  
    Acquisitions and investments   (109,687 )     (1,151 )
    Other investing activities   9       17  
           
    Net cash flows from investing activities   (116,117 )     (10,216 )
           
    Cash flows from financing activities:      
    Net change in debt   20,366       11,397  
    Proceeds from issuance of common stock   1,438       4,050  
    Purchases of common stock   (6,902 )     (9,047 )
    Dividends paid   (13,160 )     (12,395 )
    Deferred payments for acquisitions   (4,300 )     (348 )
           
    Net cash flows from financing activities   (2,558 )     (6,343 )
           
    Effect of exchange rate changes on cash and cash equivalents   1,597       (1,728 )
    Net change in cash and cash equivalents   (136,546 )     (19,649 )
    Cash and cash equivalents at beginning of period   220,540       84,963  
    Cash and cash equivalents at end of period $ 83,994     $ 65,314  
           

    Key Performance Indicators: Net Sales Summary

      Net Sales
      United States Latin Europe, Middle Asia Total        
    (in millions) & Canada America East & Africa Pacific Water Energy Distribution Other/Elims Consolidated
                       
    Q1 2024 $172.7   $41.3   $52.3   $20.3   $286.6   $62.1   $147.0   ($34.8 ) $460.9  
    Q1 2025 $175.7   $39.5   $51.5   $20.6   $287.3   $66.8   $141.9   ($40.8 ) $455.2  
    Change $3.0   ($1.8 ) ($0.8 ) $0.3   $0.7   $4.7   ($5.1 ) ($6.0 ) ($5.7 )
    % Change   2 %   -4 %   -2 %   1 %   0 %   8 %   -3 %     -1 %
                       
    Foreign currency translation, net * ($1.3 ) ($3.6 ) ($1.2 ) ($1.0 ) ($7.1 ) ($0.2 ) $0.0     ($7.3 )
    % Change   -1 %   -9 %   -2 %   -5 %   -2 %   0 %   0 %     -2 %
                       
    Acquisitions $1.2   $3.1   $0.0   $1.4   $5.7   $0.0   $0.0     $5.7  
    % Change   1 %   8 %   0 %   7 %   2 %   0 %   0 %     1 %
                       
    Volume/Price $3.1   ($1.3 ) $0.4   ($0.1 ) $2.1   $4.9   ($5.1 ) ($6.0 ) ($4.1 )
    % Change   2 %   -3 %   1 %   0 %   1 %   8 %   -3 %   -17 %   -1 %
                       

    *The Company has presented local currency price increases used to offset currency devaluation in the Argentina and Turkey highly inflationary economies within the foreign currency translation, net row above.

    Key Performance Indicators: Operating Income and Margin Summary

    Operating Income and Margins          
    (in millions) For the First Quarter 2025
      Water Energy Distribution Other/Elims Consolidated
    Operating Income / (Loss) $ 43.4   $ 21.9   $ 2.1   $ (23.3 ) $ 44.1  
    % Operating Income To Net Sales   15.1 %   32.8 %   1.5 %     9.7 %
               
    Operating Income and Margins          
    (in millions) For the First Quarter 2024
      Water Energy Distribution Other/Elims Consolidated
    Operating Income / (Loss) $ 47.1   $ 18.8   $ 1.8   $ (19.8 ) $ 47.9  
    % Operating Income To Net Sales   16.4 %   30.3 %   1.2 %     10.4 %
               

    The MIL Network

  • MIL-OSI: CSW Industrials Announces Transfer of Listing of Common Stock to the New York Stock Exchange and Change in Ticker Symbol

    Source: GlobeNewswire (MIL-OSI)

    DALLAS, April 29, 2025 (GLOBE NEWSWIRE) — CSW Industrials, Inc. (Nasdaq: CSWI) (the “Company”) today announced that the Company will transfer the listing and trading of its common stock to the New York Stock Exchange (“NYSE”) from the Nasdaq Stock Market LLC (“Nasdaq”).

    The Company’s common stock is expected to begin trading on the NYSE on Monday, June 9, 2025, under a new ticker symbol, “CSW”. The Company’s common stock is expected to continue to trade on Nasdaq until the close of the market on Friday, June 6, 2025.

    Joseph B. Armes, the Company’s Chairman, Chief Executive Officer, and President, commented, “As we anticipate celebrating our ten-year anniversary as an independent public company later this year, we are pleased to mark this milestone in our company’s history by moving to the NYSE. We look forward to joining the impressive roster of outstanding industrial companies on the world’s largest stock exchange. We believe that this move will provide additional liquidity and enhanced visibility to our stockholders, including our employees who own CSW Industrials stock through our employee stock ownership plan.”

    “We are excited to welcome CSW Industrials to the New York Stock Exchange,” said Chris Taylor, NYSE Chief Development Officer. “As a key player in Dallas and across industrial solutions, CSW is a valuable addition to our diverse community of listed companies.”

    About CSW Industrials
    CSW Industrials is a diversified industrial growth company with industry-leading operations in three segments: Contractor Solutions, Specialized Reliability Solutions, and Engineered Building Solutions. The Company provides niche, value-added products with two essential commonalities: performance and reliability. The primary end markets we serve with our well-known brands include: HVAC/R, plumbing, electrical, general industrial, architecturally-specified building products, energy, mining, and rail transportation. For more information, please visit www.cswindustrials.com

    Forward Looking Statements

    This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as “may,” “should,” “expects,” “could,” “intends,” “plans,” “anticipates,” “estimates,” “believes,” “forecasts,” “predicts” or other similar expressions are intended to identify forward-looking statements, which include, without limitation, the Company’s expectations or beliefs concerning future events that involve risks and uncertainties, including statements regarding the expected benefits and impact of the transfer from Nasdaq to the NYSE.

    The forward-looking statements included in this press release are based on our current expectations, projections, estimates, and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the risk factors described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K.

    All forward-looking statements included in this press release are based on information currently available to us, and we assume no obligation to update any forward-looking statement except as may be required by law.

    Investor Relations

    Alexa Huerta
    Vice President Investor Relations, & Treasurer
    214-489-7113
    alexa.huerta@cswindustrials.com

    The MIL Network

  • MIL-OSI: MoneyHero Group Reports Fourth Quarter and Full Year 2024 Results

    Source: GlobeNewswire (MIL-OSI)

    • Q4 net loss narrowed sharply to US$(18.8) million
    • Q4 Adjusted EBITDA loss improved to US$(2.9) million

    SINGAPORE, April 29, 2025 (GLOBE NEWSWIRE) — MoneyHero Limited (Nasdaq: MNY) (“MoneyHero” or the “Company”), a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, today announced its financial results for the fourth quarter and full year ended December 31, 2024.

    Management Commentary:

    Rohith Murthy, Chief Executive Officer, stated:

    “We closed out 2024 with a robust quarter of financial and operational results, making clear progress on our path towards profitability as we continue to focus on diversifying our revenue mix toward high-margin products, lowering operating expenses, and improving operational efficiency. Net loss narrowed sharply to US$(18.8) million from US$(94.3) million during the same period last year, and Adjusted EBITDA loss during the quarter improved substantially to US$(2.9) million – our best quarterly performance since going public. With registered members and approved applications increasing 42% and 21% year-over-year in 2024, we are confident in our ability to build upon this momentum and regain topline growth momentum with US$100 million in revenue and generate positive adjusted EBITDA on a quarterly basis in the second half of 2025.

    In Q2 2024, we outlined five strategic pillars—Consumer Pull, Conversion Expertise, Operating Leverage, Strong Provider Partnerships, and Insurance Brokerage—and we’ve made meaningful progress across all of these. We launched seamless, end-to-end purchasing journeys in Travel and Car Insurance, substantially streamlined our operating model to create a leaner, lower-cost base, deepened banking partnerships following a major provider’s exit from key markets and significantly accelerated our insurance growth through targeted strategic collaborations.

    These results directly reflect the impact our ‘efficiency’ strategy is having on building a more focused, resilient, and profitable business. We remain the largest credit card digital acquisition partner for the majority of banks across our geographies and are leveraging this strong market position to strategically broaden our focus toward high-margin verticals to improve revenue quality. Insurance revenue grew 40% in 2024 and now accounts for 10% of total revenue while wealth products revenue grew 138%, driven by strong demand for stock and bank account products. These verticals strengthen our margin profile while generating consistent and recurring revenue streams, both of which are key pillars of long-term sustainability. We also laid the foundation for scalable growth by materially lowering operating expenses and improving unit economics with an optimized cost structure across all markets, streamlined operations, and reduced paid marketing and rewards spend.

    Looking ahead to 2025, we will maintain our focus on scaling high-margin verticals, particularly insurance, while continuing to tighten cost controls and simplifying workflows. Our product and tech strategy continues to follow a ‘buy-over-build’ philosophy, enabling faster innovation through strategic partnerships, including new initiatives in AI and automation that are already underway.

    Our commitment to becoming an AI-first organization is already translating into several impactful initiatives across the business. We are actively working on deploying AI-powered customer service tools designed to significantly reduce inquiry volumes and achieve higher first-contact resolution rates. Additionally, we are piloting generative AI solutions to accelerate and scale content production efficiently. Throughout the organization, we are exploring opportunities to automate workflows using advanced AI tools and agentic AI to boost productivity, reduce operational overhead, and enable our teams to focus more strategically.

    With a debt-free balance sheet, US$42.5 million in cash and cash equivalents, and a more efficient and scalable business model, we are well-equipped to capture a greater share of a large and growing addressable market and deliver sustainable, long-term value to shareholders.”

    Danny Leung, interim Chief Financial Officer, added:

    “Our strong results in the fourth quarter demonstrate the effectiveness of our strategy as we continue to make significant strides in the diversification of our revenue mix, expand partnerships with other key providers, and broaden our product offerings. We believe these adjustments position us well for sustained growth, and as providers scale their operations in different regions, we see opportunities to further strengthen our revenue base and deepen our market presence with them.

    This quarter, we remained focused on executing our growth strategy and commenced our comprehensive reorganization and restructuring exercise to streamline operations and reduce costs. Our investments this quarter were squarely focused on customer acquisition, technology re-platforming, and data infrastructure, to build a solid foundation for future growth and profitability. These strategic investments were balanced by initiatives to streamline other aspects of our operations designed to enhance efficiency and drive returns.

    Looking ahead, we expect adjusted EBITDA to consistently improve, building on the significant progress we made during the fourth quarter. With margins steadily improving, we are well-positioned to drive growth momentum heading into 2025, strengthening our confidence to generate positive Adjusted EBITDA on a quarterly basis in the second half of 2025. Our comprehensive review of our organizational structure, completed alongside a successful reorganization this year, has strengthened our operational foundation and set the stage for continued sustainable growth.”

    Fourth Quarter 2024 Financial Highlights

    • Revenue decreased by 40% year-over-year to US$15.7 million in the fourth quarter of 2024, driven primarily by a shift in focus toward diversifying revenue mix toward high-margin products such as insurance and wealth products, and the high base effect set during the same period last year with increased investment in marketing and customer acquisition to expand market share.
      • Revenue from insurance products increased by 10% year-over-year to US$2.1 million in the fourth quarter of 2024, accounting for 14% of total revenue, compared to 7% during the same period last year.
      • Revenue from wealth products increased by 195% year-over-year to US$2.4 million in the fourth quarter of 2024, accounting for 15% of total revenue, compared to 3% during the same period last year.
    • Cost of revenue decreased by 62% year-over-year to US$6.6 million, with advertising and marketing expenses decreasing by 23% year-over-year in the fourth quarter of 2024, as the Company focused on scaling higher margin verticals and optimizing rewards costs associated with the credit cards vertical and paid marketing spend across all markets.
    • Total operating costs and expenses, excluding net foreign exchange differences, decreased to US$25.2 million in the fourth quarter of 2024 from US$45.6 million during the same period last year. Operating costs and expenses in the fourth quarter of 2023 included significant transaction costs associated with the listing as well as certain write-offs of intangible assets which are further detailed in the adjusted EBITDA reconciliation below.
    • Foreign exchange loss of US$8.9 million in the fourth quarter of 2024 was driven by the weakening of local currencies against the US dollar from end September 2024 to end December 2024.
    • Net loss for the period narrowed sharply to US$(18.8) million during the fourth quarter of 2024, compared to US$(94.3) million in the same period last year, primarily due to non-operating expenses including share-based payments to effect the merger with Bridgetown Holdings and finance costs.
    • Adjusted EBITDA loss improved to US$(2.9) million in the fourth quarter of 2024 from US$(4.6) million in the prior year period.

    Full Year 2024 Financial Highlights

    • Revenue decreased by 1% year-over-year to US$79.5 million for the full year 2024, driven primarily by a shift in focus toward profitability by diversifying revenue mix toward high-margin products starting in the second half of 2024.
      • Revenue from insurance products increased by 40% year-over-year to US$8.2 million for the year 2024, accounting for 10% of total revenue, compared to 7% in the prior year.
      • Revenue from wealth products increased by 138% year-over-year to US$8.5 million for the year 2024, fueled by growth of stock account and bank account verticals.
    • Total operating costs and expenses, excluding net foreign exchange differences, increased by 3% year-over-year to US$114.9 million for the year 2024, primarily due to higher advertising and marketing expenses.
    • Net loss for the full year 2024 narrowed sharply to US$(37.8) million from US$(172.6) million in the prior year. Net loss for the full year 2023 includes US$143.4 million in non-operating expenses associated with share-based payments to effect the merger with Bridgetown Holdings, finance costs and changes in fair value of financial instruments.
    • Adjusted EBITDA loss was US$(23.7) million for the full year 2024, compared to US$(6.8) million in the prior year, largely attributable to strategic investments in marketing and customer acquisition during the first half of the year as well as increased operating costs associated with being a public company.
    • As of December 31, 2024, the Company had a debt-free balance sheet with US$42.5 million in cash and cash equivalents.

    Fourth Quarter and Full Year 2024 Operational Highlights

    • Monthly Unique Users for the three months ended December 31, 2024 of 6.2 million
    • MoneyHero Group Members, to whom the Company provides more tailored product information and recommendations, grew by 42% year-over-year to 7.5 million as of December 31, 2024
    • Approved Application volumes increased by 21% year-over-year in 2024 to 767,000, driven by strong growth in the Company’s insurance products

    Capital Structure

    The table below summarizes the capital structure of the Company as of December 31, 2024:

    Share Class Issued and Outstanding
    Class A Ordinary 28,653,4671
    Class B Ordinary 13,254,838
    Preference Shares 2,407,575
    Total Issued Shares 44,315,880
    Employee Equity Options 690,0552
    Issued Class A Ordinary Shares Underlying Employee Equity Options (690,055)3
    Total Issued and Issuable Shares4 44,315,880

    ______________________________
    1 Includes 690,055 shares issued to Computershare Hong Kong Investor Services Limited (“Computershare”) which are held in trust pending exercise of share options and settlement by Computershare to the underlying exercising option holder.
    2 Includes granted but unexercised options as well as exercised options, pursuant to which the shares have not yet been issued as of December 31, 2024.
    3 Issued in advance to Computershare and held in trust pending exercise of share options and settlement by Computershare to the underlying exercising option holder.
    4 Public Warrants, Sponsor Warrants, Class A-1 Warrants, Class A-2 Warrants and Class A-3 Warrants are excluded since they are out of the money.

    Summary of financial / KPI performance

      For the Three Months Ended December 31,   For the Full Year Ended December 31,
      2024   2023     2024   2023  
      (US$ in thousands, unless otherwise noted)
    Revenue 15,723   26,397     79,511   80,671  
    Adjusted EBITDA (2,922 ) (4,613 )   (23,666 ) (6,763 )
               
    Clicks (in thousands)5 2,222   N/A     N/A   N/A  
    Applications (in thousands)6 363   504     1,779   1,713  
    Approved Applications (in thousands)6 172   204     767   636  

    ______________________________
    5 As of July 1, 2024, we transitioned from Universal Analytics to Google Analytics 4. Consequently, we are unable to provide comparable click data for this period following the transition. Please refer to the section titled “Key Performance Metrics and Non-IFRS Financial Measures” for more information regarding the change in methodology.
    6 Due to the nature of our business, there is often a delay in receiving confirmation of the number of Applications and Approved Applications by our commercial partners. As a result, the disclosed figures may utilize estimations if data is unavailable.

    Revenue breakdown

      For the Three Months Ended
    December 31,
      For the Year Ended December 31,
      2024   2023       2024   2023  
      US$ % US$ %   US$ % US$ %
      (US$ in thousands, except for percentages)
    By Geographical Market:                  
    Singapore 5,060 32.2 12,111   45.9     30,890 38.9 32,070 39.8
    Hong Kong 7,386 47.0 8,390   31.8     30,443 38.3 26,947 33.4
    Taiwan 1,296 8.2 1,967   7.5     5,137 6.5 6,743 8.4
    Philippines 1,977 12.6 3,887   14.7     12,844 16.2 14,169 17.6
    Malaysia 5 0.0 43   0.2     197 0.2 738 0.9
    Other Asia 0 0.0 (0 ) (0.0 )   0 0.0 4 0.0
                       
    Total Revenue 15,723 100.0 26,397   100.0     79,511 100.0 80,671 100.0
                       
    By Source:                  
    Online financial comparison platforms 13,594 86.5 21,831   82.7     66,815 84.0 66,926 83.0
    Creatory 2,129 13.5 4,566   17.3     12,696 16.0 13,746 17.0
                       
    Total Revenue 15,723 100.0 26,397   100.0     79,511 100.0 80,671 100.0
                       
    By Vertical:                  
    Credit cards 7,559 48.1 19,976   75.7     48,958 61.6 60,258 74.7
    Personal loans and mortgages 3,373 21.5 3,487   13.2     12,185 15.3 10,166 12.6
    Wealth 2,397 15.2 813   3.1     8,504 10.7 3,580 4.4
    Insurance 2,125 13.5 1,928   7.3     8,181 10.3 5,853 7.3
    Other verticals 269 1.7 193   0.7     1,683 2.1 814 1.0
                       
    Total Revenue 15,723 100.0 26,397   100.0     79,511 100.0 80,671 100.0


    Key Metrics

      For the Three Months Ended
    December 31, 2024
     
      (in millions, except for percentages)
    Monthly Unique Users7,8      
    Singapore 1.4 23.1 %  
    Hong Kong 1.1 17.2 %  
    Taiwan 1.7 28.2 %  
    Philippines 1.9 31.5 %  
    Total 6.2 100.0 %  
           
    Total Traffic7,8      
    Singapore 3.1 16.6 %  
    Hong Kong 3.5 19.0 %  
    Taiwan 5.7 30.7 %  
    Philippines 6.3 33.7 %  
    Total 18.6 100.0 %  
     
       
             
       
             
                 
                 
                 
                 
                 
                 
      As of December 31,
       
             
       
             
                 
                 
                 
                 
                 
                 
      2024   2023  
       
             
       
             
                 
                 
                 
                 
                 
                 
      (in millions, except for percentages)
       
             
       
             
                 
                 
                 
                 
                 
                 
    MoneyHero Group Members8        
       
             
       
             
                 
                 
                 
                 
                 
                 
    Singapore 1.3 17.7 % 1.2 22.1 %
       
             
       
             
                 
                 
                 
                 
                 
                 
    Hong Kong 0.9 11.5 % 0.7 13.0 %
       
             
       
             
                 
                 
                 
                 
                 
                 
    Taiwan 0.4 4.8 % 0.3 4.8 %
       
             
       
             
                 
                 
                 
                 
                 
                 
    Philippines 5.0 66.1 % 2.9 55.3 %
       
             
       
             
                 
                 
                 
                 
                 
                 
    Malaysia 0.0 0.0 % 0.3 4.8 %
       
             
       
             
                 
                 
                 
                 
                 
                 
    Total 7.5 100.0 % 5.3 100.0 %

    _____________________________
    7 As of July 1, 2024, we transitioned from Universal Analytics to Google Analytics 4. Consequently, we are unable to provide comparable monthly unique users and total traffic for this period following the transition. Please refer to the section titled “Key Performance Metrics and Non-IFRS Financial Measures” for more information regarding the change in methodology.
    8 Malaysia’s ‘CompareHero’ brand was acquired by Jirnexu Sdn. Bhd in July 2024.

    Conference Call Details

    The Company will host a conference call and webcast on Tuesday, April 29, 2025, at 8:00 a.m. Eastern Standard Time / 8:00 p.m. Singapore Standard Time to discuss the Company’s financial results. The MoneyHero Limited (NASDAQ: MNY) Q4 and FY 2024 Earnings call can be accessed by registering at:

    Webcast: https://edge.media-server.com/mmc/p/g36exn6g/
    Conference call: https://register-conf.media-server.com/register/BI63a8f286c9b74092aff58fc8eb219749

    The webcast replay will be available on the Investor Relations website for 12 months following the event.

    About MoneyHero Group
    MoneyHero Limited (NASDAQ: MNY) is a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines. Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory. The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia’s largest operating B2C platform. MoneyHero had over 290 commercial partner relationships as at December 31, 2024, and had approximately 6.2 million Monthly Unique Users across its platform for the three months ended December 31, 2024. The Company’s backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving APAC’s digital economy, please visit www.MoneyHeroGroup.com.

    Key Performance Metrics and Non-IFRS Financial Measures

    Historically, we utilized data from Universal Analytics (“UA”), Google’s analytics platform, to measure three key business metrics: monthly unique users, traffic, and clicks. Effective July 1, 2024, Google Analytics 4 (“GA4”) replaced UA. The methodologies used in GA4 are different and not comparable to the methodologies used in UA. While Google has provided some guidance on these differences, Google has not made available sufficient information for us to assess the impact (whether positive or negative) of this transition on our key business metrics, nor can we quantify the extent of such impact. Furthermore, due to the adoption of GA4, we have adjusted our definitions of these key business metrics to enhance accuracy and align them more closely with previous definitions under UA. Therefore, we are unable to provide comparable data for monthly unique user, traffic, and clicks for any periods prior to July 1, 2024.

    “Monthly Unique User” means as a unique user with at least one session in a given month as determined by a unique device identifier from GA4. A session begins when a user opens an app in the foreground or views a page or screen while no other session is currently active (e.g., the prior session has ended). A session concludes after 30 minutes of user inactivity. To measure Monthly Unique Users over a period longer than one month, we calculate the average of the Monthly Unique Users for each month within that period. If an individual accesses a website or app from different devices within a given month, each device is counted as a separate unique user. However, if an individual logs in and accesses a website or app using the same login across different devices, they will only be counted as one unique user.

    “Traffic” means the total number of unique sessions in GA4. A unique session is a group of user interactions recorded when a user accesses a website or app within a 30-minute window. The current session concludes when there is 30 minutes of inactivity or users have a change in traffic source.

    “MoneyHero Group Members” means (i) users who have login IDs with us in Singapore, Hong Kong and Taiwan, (ii) users who subscribe to our email distributions in Singapore, Hong Kong, Taiwan, the Philippines and Malaysia, and (iii) users who are registered in our rewards database in Singapore and Hong Kong. Any duplications across the three sources above are deduplicated.

    “Clicks” means the sum of unique clicks by product item on a tagged “Apply Now” button on our website, including product result pages and blogs. We track Clicks to understand how our users engage with our platforms prior to application submission or purchase, which enables us to further optimize conversion rates.

    “Applications” means the total number of product applications submitted by users and confirmed by our commercial partners.

    “Approved Applications” means the number of applications that have been approved and confirmed by our commercial partners.

    In addition to MoneyHero Group’s results determined in accordance with IFRS, MoneyHero Group believes that the key performance metrics above and the non-IFRS measures below are useful in evaluating its operating performance. MoneyHero Group uses these measures, collectively, to evaluate ongoing operations and for internal planning and forecasting purposes. MoneyHero Group believes that non-IFRS information, when taken collectively, may be helpful to investors because it provides consistency and comparability with past financial performance and may assist in comparisons with other companies to the extent that such other companies use similar non-IFRS measures to supplement their IFRS results. These non-IFRS measures are presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with IFRS and may be different from similarly titled non-IFRS measures used by other companies. Accordingly, non-IFRS measures have limitations as analytical tools, and should not be considered in isolation or as substitutes for analysis of other IFRS financial measures, such as profit/(loss) for the year/period and profit/(loss) before income tax.

    Adjusted EBITDA is a non-IFRS financial measure defined as loss for the year plus depreciation and amortization, interest income, finance costs, income tax expenses/(credit), impairments of non-financial assets, equity-settled share-based payment expenses, other long-term employee benefits expense/(credit), non-recurring costs related to strategic exercises, gain on disposal of Malaysian operations, transaction expenses, changes in the fair value of financial instruments, non-recurring legal fees, gain on derecognition of convertible loan and bridge loan and unrealized foreign exchange differences. Adjusted EBITDA Margin is defined as Adjusted EBITDA as a percentage of revenue.

    A reconciliation is provided for each non-IFRS measure to the most directly comparable financial measure stated in accordance with IFRS. Investors are encouraged to review the related IFRS financial measures and the reconciliations of these non-IFRS measures to their most directly comparable IFRS financial measures. IFRS differs from U.S. GAAP in certain material respects and thus may not be comparable to financial information presented by U.S. companies. We currently, and will continue to, report financial results under IFRS, which differs in certain significant respects from U.S. GAAP.

      For the Three Months Ended December 31,   For the Year Ended December 31,
      2024   2023     2024   2023  
      (US$ in thousands)
    Loss for the period (18,756 ) (94,296 )   (37,787 ) (172,601 )
    Tax expenses 19   3     109   63  
    Depreciation and amortization 893   3,563     4,043   7,165  
    Interest income (239 ) (679 )   (1,478 ) (873 )
    Finance costs 8   13,657     25   19,028  
               
    EBITDA (18,075 ) (77,752 )   (35,088 ) (147,217 )
               
    Non-cash items:          
    Changes in fair value of financial instruments 526   (123 )   (447 ) 57,333  
    Impairment of intangible assets 4,466   3,106     4,541   3,106  
    Equity settled share-based payment arising from employee share incentive scheme 1,631   5,653     3,179   6,629  
    Unrealized foreign exchange loss/(gain), net 8,523   (4,763 )   4,197   (895 )
               
    Listing and other non-recurring strategic exercises related items:        
    Share-based payment arising from listing   67,027       67,027  
    Equity settled share-based payment arising from professional services in relation to listing   500       500  
    Transaction expenses 0   1,739     29   6,643  
    Gain on disposal of Malaysian operations 0       (600 )  
    Other non-recurring costs related to strategic exercises   (0 )   61   1  
               
    Other non-recurring items:          
    Other long-term employee benefits expense/(credit)   0       110  
    Non-recurring legal fees 7       462   0  
               
    Adjusted EBITDA (2,922 ) (4,613 )   (23,666 ) (6,763 )
               
    Revenue 15,723   26,397     79,511   80,671  
    Adjusted EBITDA (2,922 ) (4,613 )   (23,666 ) (6,763 )
    Adjusted EBITDA Margin (18.6 )% (17.5 )%   (29.8 )% (8.4 )%
     

    Forward Looking Statements

    This document includes “forward-looking statements” within the meaning of the United States federal securities laws and also contains certain financial forecasts and projections. All statements other than statements of historical fact contained in this communication, including, but not limited to, statements as to the Group’s growth strategies, future results of operations and financial position, market size, industry trends and growth opportunities, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. All forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company, which are all subject to change due to various factors including, without limitation, changes in general economic conditions. Any such estimates, assumptions, expectations, forecasts, views or opinions, whether or not identified in this communication, should be regarded as indicative, preliminary and for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. The forward-looking statements and financial forecasts and projections contained in this communication are subject to a number of factors, risks and uncertainties. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in business, market, financial, political and legal conditions; the Company’s ability to attract new and retain existing customers in a cost effective manner; competitive pressures in and any disruption to the industries in which the Company and its subsidiaries (the “Group”) operates; the Group’s ability to achieve profitability despite a history of losses; and the Group’s ability to implement its growth strategies and manage its growth; the Group’s ability to meet consumer expectations; the success of the Group’s new product or service offerings; the Group’s ability to attract traffic to its websites; the Group’s internal controls; fluctuations in foreign currency exchange rates; the Group’s ability to raise capital; media coverage of the Group; the Group’s ability to obtain adequate insurance coverage; changes in the regulatory environments (such as anti-trust laws, foreign ownership restrictions and tax regimes) and general economic conditions in the countries in which the Group operates; the Group’s ability to attract and retain management and skilled employees; the impact of the COVID-19 pandemic or any other pandemic on the business of the Group; the success of the Group’s strategic investments and acquisitions, changes in the Group’s relationship with its current customers, suppliers and service providers; disruptions to the Group’s information technology systems and networks; the Group’s ability to grow and protect its brand and the Group’s reputation; the Group’s ability to protect its intellectual property; changes in regulation and other contingencies; the Group’s ability to achieve tax efficiencies of its corporate structure and intercompany arrangements; potential and future litigation that the Group may be involved in; and unanticipated losses, write-downs or write-offs, restructuring and impairment or other charges, taxes or other liabilities that may be incurred or required and technological advancements in the Group’s industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s annual report for the year ended December 31, 2023 on Form 20-F (File No.: 001-41838), registration statement on Form F-1 (File No.: 333-275205), and other documents to be filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. In addition, there may be additional risks that the Company currently does not know, or that the Company currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements reflect the Company’s expectations, plans, projections or forecasts of future events and view. If any of the risks materialize or the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Forward-looking statements speak only as of the date they are made. The Company anticipates that subsequent events and developments may cause their assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, except as required by law. The inclusion of any statement in this document does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed upon the forward-looking statements. In addition, the analyses of the Company contained herein are not, and do not purport to be, appraisals of the securities, assets, or business of the Company.

    For inquiries, please contact:

    Investor Relations:
    MoneyHero IR Team
    IR@MoneyHeroGroup.com

    Media Relations:
    MoneyHero PR Team
    Press@MoneyHeroGroup.com

    Consolidated Statements of Loss and Other Comprehensive Income

      For the Three Months Ended
    December 31,
      For the Year Ended
    December 31,
      2024   2023     2024   2023  
      (US$ in thousands except for loss per share)
    Revenue 15,723   26,397     79,511   80,671  
               
    Cost and expenses:          
    Cost of revenue (6,603 ) (17,601 )   (46,180 ) (43,930 )
    Advertising and marketing expenses (3,954 ) (5,111 )   (21,619 ) (16,245 )
    Technology costs (1,397 ) (4,451 )   (7,427 ) (9,522 )
    Employee benefit expenses (5,837 ) (10,585 )   (24,151 ) (24,931 )
    General, administrative and other operating expenses (7,454 ) (7,863 )   (15,543 ) (16,725 )
    Foreign exchange differences, net (8,921 ) 4,802     (4,783 ) 657  
               
    Operating loss (18,444 ) (14,411 )   (40,192 ) (30,026 )
               
    Other income/(expenses):          
    Other income 241   679     2,092   878  
    Share-based payment on listing   (67,027 )     (67,027 )
    Finance costs (8 ) (13,657 )   (25 ) (19,028 )
    Changes in fair value of financial instruments (526 ) 123     447   (57,333 )
               
    Loss before income tax (18,737 ) (94,293 )   (37,678 ) (172,538 )
    Tax expenses (19 ) (3 )   (109 ) (63 )
    Loss for the period (18,756 ) (94,296 )   (37,787 ) (172,601 )
    Other comprehensive income/(loss)          
    Other comprehensive income/(loss) that may be classified to profit or loss in subsequent periods (net of tax):          
    Exchange differences on translation of foreign operations 8,071   (4,098 )   3,738   (820 )
    Other comprehensive income/(loss) that will not be reclassified to profit or loss in subsequent periods (net of tax):          
    Remeasurement of defined benefit plan 8   (9 )   12   (30 )
    Other comprehensive income/(loss), net of tax 8,079   (4,107 )   3,750   (850 )
               
    Total comprehensive loss, net of tax (10,677 ) (98,403 )   (34,037 ) (173,451 )
               
    Loss per share attributable to ordinary equity holders of the parent    
    Basic and diluted (0.5 ) (2.8 )   (0.9 ) (17.9 )
     

    Consolidated Statements of Financial Position

      As of December 31,
    (US$ in thousands) 2024 2023
         
    NON-CURRENT ASSETS    
    Non-current financial asset 600
    Intangible assets 1,018 7,294
    Property and equipment 215 190
    Right-of-use assets 744 590
    Deposits 25 26
         
    Total non-current assets 2,601 8,100
         
    CURRENT ASSETS    
    Accounts receivable 13,538 17,236
    Contract assets 11,825 16,025
    Prepayments and other assets 9,041 4,855
    Tax recoverable 63 0
    Pledged bank deposits 185 189
    Cash and cash equivalents 42,522 68,641
         
    Total current assets 77,174 106,947
         
    CURRENT LIABILITIES    
    Income tax payable 32
    Accounts and other payables 29,101 33,222
    Warrant liabilities 1,393 1,840
    Lease liabilities 442 575
    Provisions 71 72
         
    Total current liabilities 31,039 35,708
         
    NET CURRENT ASSETS 46,135 71,239
    TOTAL ASSETS LESS CURRENT LIABILITIES 48,736 79,339
         
    NON-CURRENT LIABILITIES    
    Lease liabilities 294 31
    Deferred tax liabilities 30 29
    Provisions 185 194
         
    Total non-current liabilities 509 255
         
    Net assets 48,227 79,084
         
    EQUITY    
    Issued capital 4 4
    Reserves 48,223 79,080
         
    Total equity 48,227 79,084

    The MIL Network

  • MIL-OSI: Applico Capital Launches Tech-Enabled Private Equity Division

    Source: GlobeNewswire (MIL-OSI)

    WEST PALM BEACH, Fla., April 29, 2025 (GLOBE NEWSWIRE) — Applico Capital, a trusted technology investor in B2B distribution, is proud to announce the launch of its tech-enabled private equity strategy. Its new private equity division partners with scaled B2B distributors, empowering strong management teams to grow faster and more profitably by increasing their investment in AI. The strategy has garnered significant support from family offices and institutions outside of the industry who see a transformative period ahead for the $8 trillion B2B distribution industry.

    “AI is providing a once-in-a-generation opportunity to reimagine everything about B2B distribution,” said Alex Moazed, Founder & CEO of Applico Capital. “We are partnering with large B2B distributors that want to establish the new standard for supplier, customer, and employee expectations. Not only will AI create material internal synergies, but the distributors who proliferate AI capabilities externally can redefine the flow of information and commerce in their vertical.”

    Unparalleled AI Expertise: Venture and Private Equity
    No one else has the experience of technology innovation in the B2B distribution industry like that of Applico Capital. Starting in 2016, with the publication of the best-selling book, Modern Monopolies, the firm has been the leading operator at the intersection of B2B distribution and technology innovation. Applico Capital’s trusted relationships with industry leaders led to the launch of its inaugural venture fund in 2023 – the first and only venture fund focused on investing in technology for B2B Distributors, backed by more than ten billion-dollar-revenue B2B distributors.

    “Applico Capital has been investing in the best-and-brightest tech innovators in supply chain and B2B distribution over the past decade. The AI capabilities have reached the point where they are ready to transform the industry and are getting stronger every month,” said Nick Johnson, Applico Capital Managing Partner. “Our new private equity division helps large B2B Distributors lead their industry by integrating proven AI capabilities to reinvent the fabric of commerce in their vertical.”

    Applico Capital’s two investment strategies, venture and private equity, create a powerful feedback loop with one another. Insights from venture investments and the startup landscape inform private equity synergies. And, the needs from private equity inform venture’s focus.

    A New Model for Private Equity
    Applico Capital has built a tech-enabled playbook that can be executed with a new model for private equity: the technology operating partner as minority owner.

    Traditional private equity needs majority control to execute a leveraged buyout strategy. Applico Capital offers a different approach. We underwrite operational synergies that come from accelerated AI adoption. We work as a technology operating partner alongside existing ownership and management, who already know how to best motivate their team members.

    As an investor in the B2B distributor, Applico Capital is tied to the long-term, financial success of the company. And, just as importantly, the management team and thousands of employees in the B2B distributor can trust Applico Capital, knowing that we’re all on the same team.

    Strategic, Flexible Capital
    In the past 12 months, B2B distribution has seen landmark acquisitions by strategics and sponsors who will make significant investments in AI tech-enablement. Applico Capital partners with family-owned, employee-owned, and publicly traded distributors, offering minority and alternative investment structures that let you retain control while also gaining a strategic technology partner. Our approach ensures that you can continue to invest in your existing organic and inorganic growth strategies while harnessing AI to become the leader in your vertical.

    About Applico Capital
    Applico Capital is the leading technology investor in the $8 trillion B2B distribution industry. Its venture capital division, Applico Capital Ventures, invests in technology startups that enhance B2B distributors’ operations. Since its founding in 2009, Applico has been a pioneer at the intersection of technology and large enterprises, evolving from one of the largest app developers in the U.S. to a strategic advisor with the publication of Modern Monopolies, the definitive book on marketplaces and platform business models. It has spent a decade working with CEOs of billion-dollar distributors on technology innovation. This expertise now drives Applico’s mission to transform B2B distribution through tech-enabled private equity.

    For media inquiries, contact: Chris Vlasto, chris.vlasto@havenstrategies.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bcc4089a-0046-48a3-a5ff-55a96203146e

    The MIL Network

  • MIL-OSI: Alpha Sigma Capital Research Publishes New Report on Bittensor (TAO), Decentralized “Neural Internet” Model

    Source: GlobeNewswire (MIL-OSI)

    Tampa, FL, April 29, 2025 (GLOBE NEWSWIRE) — Alpha Sigma Capital Research has released an in-depth report on Bittensor (TAO), a pioneering project aiming to build a decentralized, open-source “neural internet” to democratize AI development and access. The report highlights how Bittensor contrasts sharply with the prevailing model—where a handful of corporate giants control data, compute, and advanced models—by implementing a peer-to-peer network in which AI models collaboratecompete, and are financially rewarded according to the value they contribute to the system. . 

    Key Findings

    Decentralization vs. Centralization

    • Problem with Current AI Landscape: Corporate titans (e.g., OpenAI, Google, Meta) aggregate massive datasets, proprietary compute resources, and closed-source models, creating high barriers to entry for smaller innovators.
    • Bittensor’s Alternative: A peer-to-peer network where any participant can contribute compute or model outputs; contributions are evaluated and rewarded in TAO tokens governed by the network’s Yuma Consensus.

    The “Neural Internet” Vision

    • Collaborative Competition: Models hosted on Bittensor compete across subnets, specialized mini-markets within the broader network, ranked by validators on criteria like accuracy, efficiency, and novelty. 
    • Incentive Alignment: TAO tokens facilitate staking, governance, transaction fees, and reward distribution—mirroring Bitcoin’s proof-of-work incentives but for machine intelligence.

    Founding and Governance

    • Leadership: Co-founded in 2019 by Jacob Robert Steeves (ex-Google engineer) and Ala Shabaana, operating under the OpenTensor Foundation.
    • Decentralized Governance: TAO token holders vote on protocol upgrades, emission schedules, and subnet parameters through on-chain governance proposals.

    To read the full research report, visit [LINK].
    Stay connected with ASC Research on Substack. Subscribe at Alpha Sigma Capital Research | Substack.

    About Alpha Sigma Capital Research
    Active Investing in the Blockchain Economy.™

    Alpha Sigma Capital Research is provided by Alpha Sigma Capital Advisors, LLC, the Investment Manager for the Alpha Blockchain/Web3 Fund and Alpha Liquid Fund.  Alpha Sigma Capital (ASC) investment funds are focused on emerging blockchain companies that are successfully building their user-base, demonstrating real-world uses for their decentralized ecosystems, and moving blockchain technology towards mass-adoption. ASC is focused on companies leveraging blockchain technology to provide value-add in areas such as fintech, AI, supply chain, and healthcare. Apply to receive research at www.alphasigma.fund/research.

    DISCLAIMER

    This is for informational use only. This is not investment advice. Other than disclosures relating to Alpha Transform Holdings (ATH) and Alpha Sigma Capital (ASC) this information is based on current public information that we consider reliable, but we do not represent it as accurate or complete, and it should not be relied on as such. The information, opinions, estimates, and forecasts contained herein are as of the date hereof and are subject to change without prior notification. We seek to update our information as appropriate.

    Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. The price of crypto assets may rise or fall because of changes in the broad market or changes in a company’s financial condition, sometimes rapidly or unpredictably. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. Fluctuations in exchange rates could have adverse effects on the value or price of, or income derived from certain investments. We and our affiliates, officers, directors, and employees, excluding equity and credit analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives, if any, referred to in this press release.

    The information on which the information is based has been obtained from sources believed to be reliable such as, for example, the company’s financial statements filed with a regulator, the company website, the company white paper, pitchbook, and any other sources. While Alpha Sigma Capital has obtained data, statistics, and information from sources it believes to be reliable, Alpha Sigma Capital does not perform an audit or seek independent verification of any of the data, statistics, and information it receives.

    Unless otherwise provided in a separate agreement, Alpha Sigma Capital does not represent that the contents meet all of the presentation and/or disclosure standards applicable in the jurisdiction the recipient is located. Alpha Sigma Capital and its officers, directors, and employees shall not be responsible or liable for any trading decisions, damages, or other losses resulting from, or related to, the information, data, analyses, or opinions within the report.

    Crypto and/or digital currencies involve substantial risk, are speculative in nature, and may not perform as expected. Many digital currency platforms are not subject to regulatory supervision, unlike regulated exchanges. Some platforms may commingle customer assets in shared accounts and provide inadequate custody, which may affect whether or how investors can withdraw their currency and/or subject them to money laundering. Digital currencies may be vulnerable to hacks and cyber fraud as well as significant volatility and price swings.

    The MIL Network

  • MIL-OSI Russia: Worst result in 8 years – mortgage market predicted to face a severe rollback

    Translation. Region: Russian Federal

    Source: Mainfin Bank –

    How will the mortgage lending market change in 2025?

    Experts’ forecast for issuance mortgage loans in Russia is disappointing – experts expect the worst result since 2016. As expected, in 2025:

    the number of executed mortgage agreements will decrease to 800 thousand, which will be 40% lower than last year’s level; the amount of issued loans will amount to 3.7 trillion rubles – a drop of almost 30%; the average bill will increase above 4 million rubles (a year earlier – 3.7 million rubles); an increase in the average payment is expected by 13% – up to 35 thousand rubles per month; the total volume of the banks’ mortgage portfolio, taking into account existing loans, will increase above the 20 trillion ruble mark.

    However, the forecast only takes into account the current situation without significant upheavals in the industry – it is based on a key rate of 18-21%: in the presence of shock events, the changes may be even more significant.

    Why are mortgage loans being issued in Russia decreasing?

    Negative dynamics in the mortgage loan segment have been observed since mid-2024, amid the cancellation of the preferential mortgage program in new buildings. The decrease in demand for housing loans is due to the following factors:

    high interest rates, often exceeding 30%; worsening conditions for government-supported programs; tightening regulation of the industry by the Central Bank of the Russian Federation; popularity of installment programs from developers – such loans already account for up to 50% of all contracts; continuing growth in housing prices – apartments are becoming less and less affordable.

    “It is not profitable for Russians to take out mortgage loans – now many families planning to buy housing prefer to open savings accounts and deposits, expecting a reduction in rates in the industry,” experts emphasize.

    Current borrowers have also changed their payment behavior – early mortgage repayment is becoming less and less popular, and by the end of 2025, only 2% of contracts will be closed ahead of schedule. Russians have fewer and fewer incentives to repay loans early, especially against the backdrop of favorable conditions for savings products.

    When will demand for mortgages among Russians recover?

    It is definitely not worth expecting even a partial recovery of the industry in the coming months. As the survey results show, most Russians are ready to take out a mortgage if market rates fall to 15-18% per annum. Every fifth borrower in the Russian Federation is willing to consider getting a loan even at 20%, and every tenth citizen is waiting for a reduction to 10%.

    However, there are no prerequisites for such a serious revision of the conditions on the part of banks no – the regulator has been keeping the key rate at the current level for several meetings in a row. The transition to easing monetary policy is expected in the second half of 2025, provided that inflation does not exceed the forecast values, but even in this case, one should not expect a sharp reduction in the rate.

    14:35 04/29/2025

    Source:

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

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    HTTPS: //Mainfin.ru/novosti/Chudny-results-out-and-pound-idle-fish-prying-zest-oatmeal

    MIL OSI Russia News

  • MIL-OSI: Best Online Casinos Australia: 7Bit Casino Ranked Top Choice for Aussie Players in 2025

    Source: GlobeNewswire (MIL-OSI)

    PERTH, Australia, April 29, 2025 (GLOBE NEWSWIRE) — After trying out tons of online casinos in Australia, most just didn’t live up to the hype, especially when it came to bonuses. While chatting with a few local players, one name kept coming up: 7Bit casino. So, we decided to check it out. Right from the start, it felt like a different experience. The welcome offer was massive, that is up to 10,800 AUD plus 250 free spins. With thousands of slots, live dealer games, and smooth crypto payments, 7Bit stood out as something special.

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    7Bit Casino : Our Favourite Overall Casino

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    The mobile platform mirrors the desktop experience, ensuring players can enjoy online pokies for real money on the go. 24/7 live chat provides prompt support, and SSL encryption with a provably fair system enhances security, though third-party audits like eCogra are absent. Responsible gambling tools, such as deposit limits and self-exclusion, are available to promote safe play.

    7Bit Casino earns our top spot for its unmatched game variety, generous bonuses, and Aussie-friendly features. With thousands of online pokies real money options, a 10,800 AUD + 250 free spins welcome bonus, and fast PayID transactions, it’s a standout PayID casino. The platform’s mobile optimization, robust security, and 24/7 support make it ideal for players seeking online blackjack real money or real money pokies Australia.

    Regular promotions, tournaments, and a rewarding VIP program further elevate its appeal, ensuring a thrilling and reliable gaming experience.

    What Makes 7Bit Casino The Best Online Casino Australia

    7Bit Casino is a top choice for Australian players, offering a massive selection of over 10,000 games, including crowd-favorite pokies like Mega Moolah and Johnny Cash, plus table and live dealer options. High RTP slots and a generous welcome package – up to 10,800 AUD + 250 free spins make it especially appealing. Players also get 75 no-deposit free spins (code: 75BIT), weekly cashback, reload bonuses, and exclusive Telegram deals.

    With fast PayID and crypto withdrawals, 24/7 live chat, and a mobile-friendly design for iOS and Android, 7Bit makes playing on the go easy. Licensed in Curacao and active for over a decade, it offers a trusted, secure environment. The VIP program adds value with cashback, faster payouts, and exclusive rewards, while regular tournaments keep things exciting. For real money pokies in Australia, 7Bit blends variety, speed, and player perks perfectly.

    How to Join 7Bit Best Online Casino Australia

    Joining 7Bit Casino is straightforward and designed for quick access to the best online casinos in Australia:

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    How We Selected 7Bit as the Best Online Casino in Australia

    We evaluated 7Bit Casino based on rigorous criteria to ensure it meets the needs of Aussie players:

    License and Security

    7Bit holds a Curacao eGaming license, ensuring regulatory oversight. SSL encryption protects player data, and a provably fair system allows game fairness verification. While no eCogra audits are noted, the license and security measures provide a solid foundation of trust for online pokies real money players.

    Bonuses and Promotions

    The welcome package offers 325% up to 10800 AUD + 250 FS

    • 1st Deposit Bonus: 100% up to 800 AUD + 100 FS
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    A payid pokies Australia no deposit bonus of 75 free spins (code ‘75BIT’, x45 wagering, €50 max cashout) is available. Weekly cashback, reload bonuses, and Telegram-exclusive offers keep players engaged, making it a top choice for online pokies Australia payid enthusiasts.

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    Casino Games

    With over 10,000 games, 7Bit offers online pokies real money, table games, and live dealer options. High-RTP titles like Mega Moolah are favorites among the best online casino Australia players, ensuring diverse and rewarding gameplay.

    Casino Game ProvidersOur Favourite Overall Casino

    Partners include industry leaders like NetEnt, Microgaming, Play’n GO, and Evolution Gaming, ensuring high-quality, fair games for Australian online pokies and online blackjack players.

    Banking Methods

    Supports VISA, Mastercard, Neosurf, Skrill, PayID, and cryptocurrencies like Bitcoin and Ethereum. PayID is ideal for Aussies, offering fast transactions for the best online casino in Australia.

    Customer Support

    24/7 live chat responds within seconds, email support is slower, and no phone support is available. A detailed FAQ section addresses common queries, enhancing the experience for best online casinos in Australia.

    The Selection Process: Defining Excellence in Online Gaming

    • Screening: Verify licensing and reputation to ensure trust.
    • Game Evaluation: Assess variety, quality, and provider reputation.
    • Bonus Analysis: Check value, terms, and wagering requirements.
    • Payment Review: Test speed, security, and options like PayID.
    • Support Testing: Evaluate response times and effectiveness.
    • Mobile Testing: Ensure compatibility for online pokies real money on smartphones.
    • Security Check: Confirm encryption and fairness systems.
    • Player Feedback: Analyze reviews for real-world insights.
    • Scoring: Rank based on weighted criteria to identify top PayID casino options.

    Pros and Cons of 7Bit Online Casino

    Pros Cons
    Over 10,000 games, including real money pokies High wagering requirements on bonuses
    Welcome bonus: 10,800 AUD + 250 FS No phone support
    Fast PayID and crypto withdrawals No third-party audits (e.g., eCogra)
    24/7 live chat support  
    Mobile-friendly platform  
    Curacao license and SSL encryption  
    Responsible gambling tools  


    Explore the Best Online Pokies and Casino Games at 7Bit Casino

    7Bit’s 10,000+ games provide a thrilling experience for real money pokies Australia players and beyond:

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    7Bit is a haven for online pokies Australia players, offering thousands of titles from classic three-reel slots to modern video slots with immersive graphics and features. Popular titles include:

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    • Elvis Frog in Vegas: High-RTP slot with vibrant visuals and sticky wilds.
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    2. Table Games

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    These games complement Australian online pokies for players seeking variety.

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    Powered by Evolution Gaming, live dealer games deliver an authentic casino experience:

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    • Live Roulette: Authentic wheel-spinning action with multiple camera angles.
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    High-quality streaming ensures immersion for online blackjack real money players.

    4. Instant Win Games

    Quick-play options for fast entertainment:

    • Scratch Cards: Virtual lottery-style games with instant payouts.
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    These are perfect for players taking a break from real money pokies Australia.

    5. Virtual Sports

    Simulated events like football, horse racing, and greyhound racing offer betting opportunities with realistic graphics and outcomes, providing an alternative to online pokies Australia.

    6. Craps

    7Bit does not offer Craps, which may disappoint dice game enthusiasts. However, alternatives like Sic Bo provide similar dice-based excitement with varied betting options, fast-paced gameplay, and high payout potential. Players can also explore table games like roulette or online blackjack for real money for comparable thrills, ensuring a diverse gaming experience alongside real money pokies.

    7. Poker

    7Bit offers a robust poker selection for all skill levels:

    • Video Poker: Popular titles like Jacks or Better, Deuces Wild, Aces and Faces, and Joker Poker for solo play with high RTPs.
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    • Virtual Poker: Texas Hold’em and Omaha variants for strategic gameplay, perfect for honing skills.

    These options cater to both casual players and seasoned pros seeking alternatives to online pokies real money.

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    Roulette options provide diverse betting opportunities:

    • European Roulette: Single zero for better odds, popular among strategic players.
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    • Live Roulette: Lightning Roulette adds random multipliers for bigger wins, enhancing excitement.

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    9. Blackjack

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    Payment Options Available At The Best Online Casinos in Australia

    • Fiat Currency
    Method Deposit Withdrawal Processing Time
    VISA/Mastercard Yes No N/A
    Neosurf Yes No N/A
    Skrill Yes Yes Instant
    Interac Yes Yes Instant
    Neteller Yes Yes Instant
    Paysafe Card Yes No N/A
    PayID Yes Yes 1-24 hours
    Bank Transfer Yes Yes 3-7 days
    • Cryptocurrency
         
    Method Deposit Withdrawal Processing Time
    Bitcoin Yes Yes <1 hour
    Litecoin Yes Yes <1 hour
    Binance Coin Yes Yes <1 hour
    Ethereum Yes Yes <1 hour
    Dogecoin Yes Yes <1 hour

    PayID and crypto are the fastest, ideal for online pokies Australia payid users, while bank transfers are slower but reliable.

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    PayID and crypto are preferred for their speed, making them ideal for PayID casino players.

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    Final Thoughts About the Best Online Casino in Australia

    7Bit Casino is likely the top choice for Aussie players in 2025, offering a vast game selection, generous bonuses, and fast PayID withdrawals. Despite minor drawbacks like high wagering requirements and no phone support, its strengths in game variety, mobile compatibility, and player-focused features make it a standout PayID casino.

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    Frequently Asked Questions About The Best Online Casinos Australia

    1. Is 7Bit Casino legal in Australia?
      7Bit is licensed by Curacao, making it accessible to Australian players. However, online gambling laws vary by state, so players should verify local regulations to ensure compliance before playing real money pokies Australia or other games.
    2. What payment methods are accepted?
      7Bit supports VISA, Mastercard, Neosurf, Skrill, PayID, Bitcoin, Ethereum, Litecoin, and more. PayID and cryptocurrencies are the fastest, ideal for online pokies Australia payid users, offering secure and efficient transactions for PayID casino players.
    3. How long do withdrawals take?
      Cryptocurrency withdrawals process in under an hour, PayID takes 1-24 hours, and e-wallets like Skrill are instant. Bank transfers can take 3-7 days, depending on the bank, making PayID and crypto preferred for real money pokies Australia players.
    4. What’s the welcome bonus?
      7Bit offers up to 10,800 AUD + 250 free spins across four deposits, plus a payid pokies australia no deposit bonus of 75 free spins (code ‘75BIT’, x45 wagering). This package is ideal for new players exploring online pokies with real money and other games.
    5. Is mobile gaming available?
      7Bit’s mobile platform is fully optimized for iOS and Android, mirroring the desktop experience. Players can enjoy online pokies Australia, online blackjack real money, and live dealer games on the go with seamless performance and intuitive navigation.

    EMAIL: Support@7bitCasino.com

    Disclaimers and Affiliate Disclosure

    General Disclaimer
    This article is for informational and entertainment purposes only, not legal or financial advice. Content is based on research and user reviews as of April 24, 2025. No warranties are made, and users must verify information before acting.

    Casino and Gambling Disclaimer
    Online gambling carries risks and isn’t suitable for everyone. Confirm you’re of legal gambling age in your jurisdiction. Gambling laws vary, and compliance is your responsibility. We don’t promote gambling; participation is at your risk. 7Bit Casino is a third-party platform, and we’re not liable for losses or disputes.

    Affiliate Disclosure
    This article may include affiliate links, earning us a commission at no cost to you for qualifying actions. These support our content. Our reviews are unbiased, and we recommend only valuable products. Do your own research before signing up or playing real money pokies in Australia.

    A photo accompanying this announcement is available at:
    https://www.globenewswire.com/NewsRoom/AttachmentNg/e955b95c-b051-4108-9d06-23bb3d13cbcd

    The MIL Network

  • MIL-OSI: SUTNTIB AB Tewox audited consolidated and separate annual financial statements for 2024

    Source: GlobeNewswire (MIL-OSI)

    Vilnius, Lithuania, April 29, 2025 (GLOBE NEWSWIRE) —

    AB Tewox (the Company) publishes its audited annual consolidated and separate financial statements for 2024 together with Company’s and Group’s annual management report for 2024.

    Financial results

    The objective of the Company is to earn a return to shareholders through investments in individual income-generating real estate objects – either under development or already developed – intended for retail or other (commercial and/or residential) purposes in the Baltic Sea Region countries – Lithuania, Latvia, Estonia, Finland, Sweden, Denmark, Poland and Germany. The main financial indicators for the period were:

    • As at 31 December 2024, the Company’s total assets were EUR 75,648 thousand, total equity was EUR 43,448 thousand, and total liabilities were EUR 32,200 thousand.
    • As at 31 December 2024, the Company’s investment assets at fair value through profit or loss were EUR 69,908 thousand, which compared to 31 December 2023, grew by EUR 4,029 thousand (or 6.21 %).
    • From January to December 2024, The Company earned EUR 3.344 thousand in total comprehensive income.

    Key events of 2024:

    • In 2024, the Company, through its managed subsidiaries, acquired investment property with a total acquisition value of approximately EUR 23.9 million:
      • Commercial building, located at 83 Dariaus ir Girėno g., Jurbarkas, Lietuva;
      • Commercial building, located at 2 Chrobrego, Radom, Lenkija;
      • Commercial building, located at 211 Zgierska, Łódź, Lenkija;
      • Land plot, located at 46 Artojų g., Kaunas, Lietuva.
    • In 2024 the Company issued private bonds with nominal value of EUR 9.974 million and redeemed private bonds with a nominal value of EUR 26.570 million.
    • On 13 August 2024, the Group’s prospectus for a public bond offering of EUR 35 million was approved. During 2024, the Company issued bonds with a nominal value of EUR 23.774 million.

    Key events after the end of the financial year:

    • On January 19, 2025, the third tranche of the public bond issuance was completed, during which the Company issued bonds with a total nominal value of EUR 11.226 million.
    • At the end of January 2025, the Company executed an early redemption of bonds in accordance with applicable early redemption terms, redeeming private bonds with a nominal value of EUR 7.474 million.
    • In March 2025, the Company, through its subsidiary, has completed a transaction for the acquisition of two Lidl store buildings in Panevėžys and Jurbarkas, for which it received EUR 6.7 million in financing from a credit institution.

    Shareholder’s meeting

    According to the Law on Companies of Republic of Lithuania, the annual financial statements prepared by the Management are authorised by the General Shareholders’ meeting. The shareholders hold the power not to approve the annual financial statements and the right to request new financial statements to be prepared. 

    The shareholders of the Company will vote on approving the Group’s and Company’s 2024 financial statements at a shareholders’ meeting to be held on 30 April 2025. The meeting will also consider a proposal for the distribution of profits, it is proposed to allocate profits as follows:

    Article Amount, EUR
    Retained earnings (loss) – at the beginning of financial year (4,339,664)
    Change in accounting policy 2,979,859
    Retained earnings (loss) – at the beginning of financial year after the change in accounting policy (1,360,105)
    Comprehensive income (loss) for the reporting period – net profit for the current year 3,344,405
    Interim dividends paid in 2024 (400,000)
    Profit transfer to the legal reserve
    Retained earnings (loss) – at the end of financial year 1,584,300
    Profit distribution:  
    Profit transfer to the legal reserve (167,220)
    Profit transfer to other reserves
    Profit to be paid as dividends (1,274,534)
    Retained earnings (loss) at the end of the financial year for 2024 and previous financial periods 142,546

    Additional agenda items of the shareholders’ meeting – the amendment of the Company’s Articles of Association, the establishment of the Audit Committee, the and approval of its guidelines.

    Contact person for further information:

    Paulius Nevinskas

    Manager of the Investment Company

    paulius.nevinskas@lordslb.lt

    https://lordslb.lt/tewox_bonds/

    Attachments

    The MIL Network

  • MIL-OSI: Best Online Casinos Canada 2025: 7Bit Casino Recognized as the Best Overall Choice

    Source: GlobeNewswire (MIL-OSI)

    PORTLAND, Ore., April 29, 2025 (GLOBE NEWSWIRE) — We played through plenty of online casinos across Canada, hoping to find great bonuses and a good time, but most fell short. After talking to a few local players, one name kept popping up, so we decided to check it out. That’s how we ended up at 7Bit Casino, and right away, it felt different. We were greeted with a 325% bonus up to 5.25 BTC and 250 free spins. The site’s packed with thousands of slots, live games, and fast, crypto-friendly payments.

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    Our Favourite Overall Casino

    7Bit Casino is our top pick among the best online casinos in Canada for 2025. Its seamless integration of crypto gaming, a vast slot selection, and rapid payouts make it a standout. The Curacao license guarantees security, while its cryptocurrency focus positions it as a leading anonymous online casino. For players seeking the best online casinos in Canada, 7Bit’s innovative features, player-centric design, and commitment to fairness make it an unrivaled choice.

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    7Bit Casino Features

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    Pros Cons
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    Instant withdrawals via crypto and Pay ID Occasional regional game restrictions
    Generous welcome bonus: 5.25 BTC + 250 free spins  
    Supports fiat and crypto payments  
    Robust VIP program with exclusive rewards  


    Pros Explained:

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    Cons Explained:

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    Regulation of the Best Online Casinos in Canada

    The best online casinos in Canada adhere to stringent regulations to ensure player safety and fairness. Key regulatory aspects include:

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    How We Selected 7Bit as the Best Online Casinos in Canada

    Our selection process for the best online casinos in Canada is meticulous, focusing on critical criteria to ensure quality and reliability:

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    A valid license, such as 7Bit’s Curacao eGaming certification, is non-negotiable, guaranteeing regulatory oversight and fair play. Advanced security measures like TLS 1.3, SSL encryption, and two-factor authentication safeguard player data and transactions, making 7Bit a secure choice (Zamsino).

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    Responsive 24/7 support via live chat, email, and comprehensive FAQs is crucial. 7Bit excels in this area, ensuring player satisfaction.

    How We Choose the Top-Rated Casino Sites

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    7Bit excels across these metrics, solidifying its place among the best online casinos Canada.

    The Selection Process: Defining Excellence in Online Gaming

    Excellence in online gaming, as demonstrated by 7Bit, involves a holistic approach:

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    About Gaming in 7Bit Casino

    Gaming at 7Bit is immersive, intuitive, and endlessly engaging. The user-friendly interface simplifies navigation, allowing players to explore the vast library with ease. Frequent game additions ensure a fresh experience, while high-RTP titles maximize winning potential.

    Whether spinning the best online pokies, strategizing in live dealer games, or enjoying instant win thrills, players benefit from a platform designed for entertainment and fairness. The crypto focus makes 7Bit a best no KYC casino, offering anonymous play without sacrificing security.

    Additional 7Bit Features

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    Bonuses and Promotions of 7Bit Casino

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    Payment Options

    7Bit offers a versatile range of payment methods, catering to all player preferences:

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      • Mastercard: Widely accepted for deposits and withdrawals.
      • Interac: Popular in Canada for fast, local transactions.
      • Skrill: E-wallet for rapid transfers.
      • Neteller: Trusted e-wallet with global reach.
      • Paysafe Card: Prepaid option for secure deposits.
      • Bank Transfer: Reliable but slower for withdrawals.
      • Neosurf: Prepaid voucher for anonymous deposits.
      • EcoPayz: Eco-friendly e-wallet with low fees.
      • MuchBetter: Mobile-friendly payment app for quick transactions.
    • Cryptocurrencies:
      • Bitcoin (BTC): Industry-standard for fast, anonymous transactions.
      • Ethereum (ETH): Smart contract-based crypto for secure payments.
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    Customer Support

    7Bit provides robust 24/7 support through:

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    While phone support is absent, the responsive live chat and email systems ensure player satisfaction. The FAQ section is regularly updated based on player queries, reflecting 7Bit’s commitment to user experience, a key trait of the best online casinos Canada.

    Games Available in 7Bit Casino

    7Bit’s expansive library of over 10,000 games includes:

    Slots

    Featuring the best online pokies, with high-RTP titles and diverse themes:

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    • Raging Lion: Safari-themed game with big win potential.

    Table Games

    Classic and modern variants for strategic players:

    • Blackjack: Includes Classic, Multi-Hand, and European variants for varied gameplay.
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    • Baccarat: Punto Banco and Speed Baccarat for quick, elegant play.
    • Craps: Fast-paced dice game with multiple betting strategies.
    • Poker: Texas Hold’em, Caribbean Stud, and Video Poker (Jacks or Better) for skill-based fun.

    Live Dealer Games

    Powered by Evolution Gaming and Pragmatic Play, offering immersive real-time experiences:

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    Instant Win Games

    Quick-play options for instant thrills:

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    This diverse selection makes 7Bit a top destination among the best online casinos Canada (Casino.org).

    The Most Popular Pay-out Methods at 7Bit Casino

    The most preferred payout methods at 7Bit include:

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    • E-wallets: Skrill, Neteller, and Interac provide quick processing, typically within 1–24 hours.
    • Pay ID: Near-instant withdrawals, highly popular among Canadian players for speed and convenience.
    • Bank Transfers: Reliable but slower, taking 3–5 days, suitable for larger withdrawals.

    Crypto’s speed and anonymity make it a favorite, aligning with 7Bit’s anonymous online casino appeal. Pay ID’s efficiency further enhances its status as a leading pay ID casino.

    Additional 7Bit Casino Highlights

    • Award Recognition: 7Bit has been nominated for “Best Crypto Casino” in recent industry awards, reflecting its excellence in the crypto gaming space.
    • Global Accessibility: Supports players from multiple countries, with region-specific promotions tailored to Canadian users.
    • High Volatility Options: A dedicated section for high-volatility slots caters to risk-takers seeking big wins.
    • Player-Driven Updates: Regular platform enhancements based on user feedback, such as improved navigation and new game categories.
    • Crypto Staking Rewards: Experimental feature allowing players to earn small rewards by holding certain cryptocurrencies in their 7Bit wallet.
    • Exclusive Game Releases: Early access to new titles from providers like BGaming, often paired with free spins promotions.
    • Social Responsibility: Partnerships with responsible gambling organizations and in-house tools to promote safe play (Bitcoin Casino Kings).

    Final Thoughts On Best Online Casinos Canada

    7Bit Casino, rated 4.8/5 for 2025, offers innovation, security, and entertainment with a vast game library, crypto-friendly platform, instant payouts, and player-focused features. Ideal for free spins, online pokies, or live dealer games, it excels as a leading pay ID and anonymous casino, delivering a secure, rewarding, and cutting-edge experience.

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    Frequently Asked Questions

    1. Is 7Bit Casino legal in Canada?
      Yes, 7Bit Casino is licensed by the Curacao eGaming Commission, making it legal for Canadian players outside Ontario, where iGaming Ontario regulates local operators. Always verify local laws before playing.
    2. What’s the welcome bonus?
      New players can claim up to 5.25 BTC + 250 free spins across four deposits. The bonus is structured to reward initial deposits, with free spins usable on select slots.
    3. How fast are withdrawals?
      Crypto and Pay ID withdrawals are processed instantly, often within minutes. E-wallets like Skrill take 1–24 hours, while bank transfers may require 3–5 days.
    4. Is there a mobile version?
      Yes, 7Bit offers a seamless mobile platform compatible with iOS and Android. Players can access the full game library and manage accounts without downloading an app.
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      Yes, crypto transactions allow anonymous play, requiring minimal personal information. This makes 7Bit a top choice for privacy-conscious players.

    EMAIL: Support@7bitCasino.com

    Disclaimer and Affiliate Disclosure

    General Disclaimer
    This article is for informational and entertainment purposes only, not legal or financial advice. Content is based on research and user reviews as of writing. No warranties are made, and users must verify information before acting.

    Casino and Gambling Disclaimer
    Online gambling carries risks and isn’t for everyone. Confirm you’re of legal gambling age in your jurisdiction. Gambling laws vary, and compliance is your responsibility. We don’t promote gambling; participation is at your risk. 7Bit Casino is a third-party platform, and we’re not liable for losses or disputes.

    Affiliate Disclosure
    This article may include affiliate links, earning us a commission at no cost to you for qualifying actions. These support our content. Our reviews are unbiased, and we recommend only valuable products.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ee7b7996-5711-4ded-8c48-d7d20368a86a

    The MIL Network

  • MIL-OSI: BestSATscore.com: SAT Prep Solution for the Digital SAT Practice Test

    Source: GlobeNewswire (MIL-OSI)

    Emeryville, California, April 29, 2025 (GLOBE NEWSWIRE) — SAT Prep and SAT practice test are undergoing a transformation as the exam fully transitions into a digital format, and BestSATscore.com is leading the way with an all-in-one platform that covers every stage of student preparation. From skill-based lessons and a meticulously organized question bank to full-length adaptive SAT Practice Tests and a true-to-life Bluebook simulation, BestSATscore.com ensures students receive the most modern and effective SAT Prep experience available.

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    Targeted Practice through a Skill-Based Question Bank with Verified Explanations

    Following skill development, students can engage in deliberate practice through BestSATscore’s skill-organized SAT Prep question bank. Each question is paired with a step-by- step, triple-verified explanation to reinforce understanding and prevent common misconceptions. This approach allows students to immediately apply their newly acquired knowledge, ensuring that their SAT Prep time is spent efficiently and effectively.

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    Attachment

    The MIL Network

  • MIL-OSI Video: What’s it take to keep a helicopter in the air?

    Source: US Army (video statements)

    About the U.S. Army:

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

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

    Connect with the U.S. Army online:
    Web: https://www.army.mil
    Facebook: https://www.facebook.com/USarmy/
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    #USArmy #Soldiers #Military #Shorts #Army

    https://www.youtube.com/watch?v=G3FUbssXItI

    MIL OSI Video

  • MIL-OSI USA: Engineering Students Excel at UConn Stamford’s First Senior Design Day

    Source: US State of Connecticut

    In between classes, careers, hobbies, and other obligations, coordinating plans with friends can be difficult for many college students and young professionals.

    “We’ve all experienced this planning chaos firsthand,” says Jainil Desai ’25 (ENG), a computer science major. “What if there was a way to make getting together with friends easier, smarter and more fun?”

    Visitors and judges at the Senior Design poster presentation could download a beta version of the STAC-IT app. (Olivia Drake/UConn photo)

    Desai, along with seven other students developed an innovative solution—a mobile app that simplifies social planning into a smooth, personalized experience.

    The team, also including Engineering students Yuzhuo Zhang ’25, Kevin Enrique Hernandez ’25, Amid Qazi ’25, Jan Ulloa, ’25 Toyi Hendrik Shimizu ’25, Mohammad Abujaffar ’25, and Ignacio Efrain Deleon ’25, debuted their app— STAC-IT— during the first-ever Senior Design Day Program held April 25 at UConn Stamford.

    In 2024–2025, UConn Stamford has 31 students engaged in year-long senior design projects as part of its full four-year computer science degree program. To showcase their work and strengthen ties with the broader community, the campus hosted its inaugural Senior Design Day Program — providing students the opportunity to present their projects to fellow students, faculty, and industry partners.

    The program is similar to the Senior Design Demonstration Day held annually at UConn Storrs.

    “Located in a growing industrial and technology hub, with proximity to Stamford and greater New York area companies, UConn Stamford is uniquely positioned to foster strong collaborations between its students and the tech workforce,” says Hasan Baig, director of the computer science program at UConn Stamford and event organizer. “Events like the Senior Design Day Program are critical in preparing graduates for real-world opportunities while helping industry partners discover emerging talent.”

    During the program, six teams made five-minute pitches to multiple UConn alumni and industry leaders who served as judges. Later, the teams spoke to the judges one-on-one during a poster session. The STAC-IT team, sponsored by Stacks IT, took first place.

    Aaron McClure, a judge from GE Appliances and CoCREATE in Stamford, found all six projects to be “good ideas that solve common problems.” STAC-IT, in particular, he says, is an ingenious way to get friends together.

    “Sometimes organizing people can be like herding cats,” he says. “If you want to get coffee, you can check the STAC-IT app to see if any of your friends also want to get coffee so you can meet up.”

    The Gush team created a platform where users can form authentic connections based on who they are, not just how they look. (Olivia Drake/UConn photo)

    McClure also was impressed with Gush, an online dating app that prioritizes personality—rather than physical attraction—to foster authentic connections. Paul Kwon ’25, Lyles Williams ’25, Max Senchukov ’25, and Joseph Vincento ’25 worked with the Woods Hole Institute to develop the app that pairs two users and places them inside a “blind date” with a countdown timer. When this timer finishes, users can either like or dislike each other. If both users like each other, they can now see each other’s photos and continue their conversation.

    “The dating app is a very novel idea and very different that other ones out there,” McClure says. “I really liked their approach.”

    In addition, Arianna Azizi ’25, Savar Jain ’25, and Romick Jean-Baptiste ’25 worked with their industry sponsor Neural Tax Networks to help reduce confusion during tax season. By using AI, their product provides answers to assist users with accessible tax and accounting research.

    “I’ve seen my dad struggle with going his own taxes, so I really liked the idea of using AI to help normal people file their taxes,” says Hamza Ejaz ’27. “It was the most attention-grabbing project.”

    Suchitha Misra’25, Karima Hamada ’25, Ananya Jonnakuti ’25, William French ’25, Trang Tran ’25, and Dylan Young ’25 worked with industry sponsor PRE to create gameified startup pitches. The platform enables audiences to act as mock investors, providing real-time feedback and investment signals to founders during live or remote events. This gamified approach boosts engagement, helps identify high-potential startups, and provides valuable performance insights to presenters.

    Dalia Clarke ’22 (ENG) served as a Senior Design judge. (Olivia Drake/UConn photo)

    Peter Vaichus ’25, Tom McCarthy’25, and Joshua Pintacasi ’25 worked with their industry sponsor Culture Tech to help museums track their collections, licenses, and workflows. The team developed and integrated a Digital Asset Manager (DAM) into a specialized software so clients can import their collections directly from their DAM.

    Sakib Nazmus ’25, Akhil Jannu ’25, William Lee ’25, and Dedeep Singu ’25 worked with their industry sponsor State Street Global Advisors to help institutional investors interpret make better financial decisions.  The tool extracts and scores sentiment by topic (financial metrics, macro trends, regulation) and time. A custom dashboard enables visualization and analysis of paragraph and keyword level sentiment trends.

    Mechanical engineering major Dalia Clarke ’22 (ENG) returned to her alma mater to help judge the presentations.

    “I love learning from the students,” she says. “I was very impressed with the depth of their work and their ability to answer questions, and also that they all had plans for making their projects even better in the future.”

    View photo gallery.

    MIL OSI USA News

  • MIL-OSI USA: 2025 Commencement Speakers and Honorary Degree Recipients

    Source: US State of Connecticut

    From business success to the National Science Foundation, from policymaking in Hartford to the world’s most popular YouTube sneaker channel, from the Chairman of the Mashantucket Pequot Tribal Nation to the President of the Rwanda Academy of Sciences, the honored guests of UConn’s commencement ceremonies bring a wealth of experience, insight, and wisdom to share with this year’s graduates. Speakers at the ceremonies, which begin on Saturday, May 10, include:

    College of Engineering (Saturday, May 10, 9 a.m. at Gampel Pavilion): Mark P. Sarkisian ’83

    Mark Sarkisian is a partner in the San Francisco office of Skidmore, Owings & Merrill LLP. He is a licensed professional engineer and structural engineer in 31 states. In 2021, Sarkisian was elected to the National Academy of Engineering, and is a member of the University of Connecticut Academy of Distinguished Engineers. He received his bachelor’s degree in civil engineering from UConn in 1983, and his master’s degree in structural engineering from Lehigh University. Sarkisian’s career focuses on developing innovative structural engineering solutions for over 100 major building projects around the world, including the Jin Mao Tower in China and the Al Hamra Fidrous Tower in Kuwait, both over 1,300 feet[1]tall. Sarkisian holds 10 U.S. patents and five international patents. Sarkisian has authored over 150 technical papers related to the design of building structures, and in 2012 completed his first book, “Designing Tall Buildings – Structure as Architecture.” He teaches integrated studio design courses focused on collaborative design opportunities at the University of California, Berkeley; California College of the Arts; Stanford University; California Polytechnic State University; Northeastern University; North Carolina State University; and the Pratt Institute.

    School of Nursing (Saturday, May 10, 9 a.m. at Jorgensen Center for the Performing Arts): Joan Y. Reede

    Dr. Joan Y. Reede was appointed as Harvard Medical School’s (HMS) first Dean for Diversity and Community Partnership in January of 2002, and has been responsible for the development and management of a comprehensive program that has provided leadership, guidance, and support to promote the increased recruitment, retention, and advancement of diverse faculty, particularly individuals from groups underrepresented in medicine. This charge includes oversight of all diversity activities at HMS as they relate to faculty, trainees, students, and staff. Reede is a graduate of Brown University and Mount Sinai School of Medicine. She completed a pediatric residency at Johns Hopkins Hospital in Baltimore, Maryland, and a fellowship in child psychiatry at Boston Children’s Hospital. She holds an MPH and an MS in Health Policy Management from Harvard T. H. Chan School of Public Health, and an MBA from Boston University. Reede created and developed more than 20 programs at HMS that aim to address pathway and leadership issues for minorities and women who are interested in careers in medicine, academic and scientific research, and the health care professions. At a national level, Reede’s advice and expertise is highly sought after among several committees and councils, such as being appointed to the Health and Human Services Advisory Committee on Minority Health and serving on the Board of Governors for the Warren Grant Magnuson Clinical Center. She also has many affiliations, including the Task Force for the Annual Biomedical Research Conference for Minority Students, CTSA Women in CTR Interest Group of the NIH, and the American Association for the Advancement of Science STEM Education Review Committee.

    School of Business (Saturday, May 10, 1:30 p.m. at Gampel Pavilion): Richard Eldh ‘81

    Rich Eldh was born in the village of Ardsley, New York, and moved homes five times between the ages of 5 and 15. He attended Staples High School in Westport, graduating as a three-sport athlete and an all-state football player. After high school, he enrolled at the University of Connecticut. In what would have been his junior year, 1978–1979, he took a leave of absence to travel abroad, living in Kempten, Germany, in Bavaria. There, he worked at Dixie Union, a manufacturing company, as a computer programmer, where he developed new automation software for the finance department. This experience in Germany highlighted the significant impact computing technology would have on business. Motivated by this realization, he decided to pursue a career in the computer industry. Upon returning to the University of Connecticut for his final two years, he majored in finance at the School of Business and graduated in 1981 with a degree in Finance. He first joined a manufacturing firm implementing automation software, then moved to Four Phase Systems, a Motorola company, selling data entry systems. Later, he joined Hewlett-Packard, specializing in manufacturing systems and automation. It was at HP that he met his wife; they married and started a family. After working for two very large corporations, Rich joined a startup called Gartner Group in Stamford. He was the 100th employee, and in ten years, the company grew from $9 million in revenue to just under $1 billion with 4,500 employees. Today, Gartner boasts a market cap of $38 billion with 21,000 employees. These early career highlights led Rich to co-found Sirius Decisions, which became a leader in high-performance go-to[1]market research and benchmarking. Headquartered in Wilton, Sirius Decisions grew to 400 employees with private equity backing and offices worldwide. The company was eventually monetized for approximately $300 million through a sale to a public company in Boston. Throughout his career, he has had the honor of working with associates and clients across more than 50 countries. Alongside his career, Rich and his wife Joyce raised two daughters and a son. They have each found success in the medical field, the fashion world, and the blockchain and crypto industry, respectively.

    School of Social Work (Saturday, May 10, 1:30 p.m. at Jorgensen Center for the Performing Arts): Maggie Mitchell Salem

    Maggie Mitchell Salem joined IRIS as Executive Director in January 2024. Throughout her nearly 30-year career, Maggie has managed diverse teams focused on civic education, intercultural dialogue, social and political rights, and forced displacement. She arrived in Connecticut following three years leading the National Democratic Institute’s democratic governance program in Tunisia. Given the exponential increase in the number of refugees, humanitarian parolees, and other immigrants that IRIS assists, Maggie has focused on organizational structure, systems, and policies that create a strong foundation for the organization’s continued growth. Her previous experience at Global Refuge (formerly Lutheran Immigration & Refugee Services) and Fugees Academy have underscored the importance of collaborative, communicative leadership and management. For more than a decade, she was the founding executive director of Qatar Foundation International and expanded Arabic language and culture education to public K-12 schools across the U.S., UK, and Germany. As the Regional Director for the Middle East and North Africa at the International Foundation for Electoral Systems (IFES), she expanded or created new programs in Jordan, Iran, and Iraq. Maggie started up and led the Middle East Institute’s Communications Department from 2001-2004. She also served as a U.S. Foreign Service Officer in Mumbai and Tel Aviv, and as staff on the Executive Secretariat of Secretary of State Madeleine Albright. Maggie was a Fulbright Scholar in Syria while studying for her Masters in Contemporary Arab Studies at Georgetown University. She received a bachelor’s degree in political science and psychology from Johns Hopkins University. She has two sons and two daughters. She lives with her six dogs and two cats in East Haddam.

    Bachelor of General Studies (Saturday, May 10, 2 p.m. at Student Union Theater): Daniel Mercier ‘95

    Daniel Mercier graduated from the Bachelor of General Studies program in 1995 with a focus in Visual Communications. After serving as a Graphics Specialist for a few years, Mercier returned to UConn in 1998 as a Media Producer. In 2001, he transitioned to the role of Instructional Developer in the Instructional Design and Development Department. After completing a Master of Arts in Educational Technology in 2003, Mercier became Manager of Instructional Design and Development and ultimately served as Assistant Director and Director of the Institute of Teaching and Learning. In 2015, he took on the role of Director, Instructional Design, in the Center for Pedagogical Innovation at Wesleyan University. In 2017, Mercier returned to UConn as the Director of Academic Affairs at the Avery Point Campus of the University of Connecticut. Throughout his 30-plus-year career, Mercier has demonstrated an unwavering commitment to the development of instructional tools, to help faculty utilize technologies to reach our students. In his work, he has supported faculty, staff and students across the higher education landscape. His commitment to the University of Connecticut spans nearly 25 years. In his current position, he recruits faculty, oversees academic advising and other academic support programs, and develops partnerships between the Avery Point campus and other academic entities within and outside UConn. These partnerships include the support of students in the Bachelor of General Studies Program.

    College of Agriculture, Health and Natural Resources (Saturday, May 10, 6 p.m. at Gampel Pavilion): Rodney Butler ’99 (BUS)

    Rodney A. Butler is the Chairman of the Mashantucket Pequot Tribal Nation (MPTN) since January 2010. Butler’s service on Tribal Council began in 2004, and after one year, he was appointed Tribal Council Treasurer; a position he held through 2009. During his tenure, Butler chaired the Tribe’s Finance, Housing, and Judicial Committees, the MPTN Utility Authority, and served as an Interim CEO for Foxwoods Resort Casino. Butler earned his Bachelor’s Degree in Finance from the University of Connecticut where he played Defensive Back for the UConn Huskies football team. Prior to Tribal Council, Butler worked in the finance department at Foxwoods Resort Casino. He later became Chairman of the Tribal Business Advisory Board; an executive body responsible for overseeing the Tribe’s non-gaming businesses and commercial properties. Butler was actively involved in multiple resort expansions at Foxwoods, as well as community development initiatives on the Reservation, the establishment of the Mashantucket (Western) Pequot Tribe Endowment Trust, and the legalization of Sports Betting and iGaming in the state of Connecticut. He was also a participant in Harvard Business School’s program “Leading People and Investing to Build Sustainable Communities.” He is a regular speaker on national panels related to Native American issues. Butler presently serves on the Board of Directors for Mashantucket Pequot Interactive and is on the board of Foxwoods El San Juan Casino. He also serves as the President of Native American Finance Officers Association (NAFOA), as Alternate Vice President for the National Congress of American Indians, and on the boards for the United South and Eastern Tribes, Indian Gaming Association, American Gaming Association, the Mystic Aquarium, and the United Way of Southeastern Connecticut. He is the 2019 recipient of the Citizen of the Year award from the Eastern Connecticut Chamber of Commerce, and the National Indian Gaming Association’s John Kieffer Sovereignty Award. In 2018, he received the St. Edmund’s Medal of Honor Award from the Enders Island Retreat Center. In 2017, Butler was appointed “Tribal Leader of the Year” by the NAFOA. As Chairman, Butler’s primary focus is to ensure long-term stability for the Tribe’s citizens, government, and business enterprises.

    School of Fine Arts (Saturday, May 10, 6 p.m. at Jorgensen Center for the Performing Arts): Jacob G. Padrón

    Jacob G. Padrón is the Artistic Director of Long Wharf Theatre in New Haven. He is also the Founder and Artistic Director of The Sol Project, a national theater initiative that works in partnership with leading theater companies to amplify the voices of Latino playwrights in New York City and beyond. Padrón has held senior-level artistic positions at theater companies across the country. He was the Senior Line Producer at The Public Theater where he worked on new plays, new musicals, Shakespeare in the Park, and Public Works. He was formerly the Producer at Steppenwolf Theatre Company in Chicago where he supported the artistic programming in the Garage – Steppenwolf’s dedicated space for new work, new artists, and new audiences. From 2008 to 2011, he was an Associate Producer at the Oregon Shakespeare Festival where he was instrumental in producing all shows in the 11-play repertory. Under the guidance of his late mentor Diane Rodriguez, he served as the producer of Suzan-Lori Parks’ “365 Days/365 Plays” for Center Theatre Group, a collaboration that included over 50 theater companies to launch Festival 365 in Los Angeles. He is a co-founder of the Artist Anti-Racism Coalition, a grassroots movement committed to dismantling structural racism within the Off-Broadway community. Jacob is a graduate of Loyola Marymount University (B.A.) and David Geffen School of Drama (M.F.A.). His first artistic home was El Teatro Campesino located in San Juan Bautista, California.

     

    College of Liberal Arts and Sciences, Ceremony I (Sunday, May 11, 9 a.m. at Gampel Pavilion): Maureen Ahern ‘85

    Maureen Ahern is an Executive Leadership Coach on her third career whose journey began in the same classrooms as today’s graduates. A proud Husky who earned both a Bachelors and a Masters, Maureen’s connection to UConn runs deep. For over 10 years, she returned to UConn Stamford each week as an Adjunct Professor, teaching Interpersonal Communications and Public Speaking after her corporate day job in New York, driven by her belief that becoming a great communicator gives you the power and confidence to take meaningful action to shape your future. Maureen started as a Sales Executive at The Associated Press and quickly rose to lead the Satellite Networks division before transitioning to Standard and Poor’s Comstock. At S&P she led many different departments as Director of Operations, VP of US Sales and Managing Director for Asian and South American markets, building successful international relationships while traveling the world. She was part of the management team that sold Comstock to IDC and then pivoted from corporate into the digital world, as Partner and COO of momAgenda, where she helped build a thriving e-commerce company. Drawing on her teaching background, leadership experience and desire to coach and mentor others, Maureen completed her leadership coaching certification at Georgetown University’s Transformational Leadership Institute. Today as Founder of Ahern Leadership Coaching and Consulting, Maureen partners with C-suite executives and emerging leaders across industries, facilitating leadership development through one-on-one coaching, team coaching, and specialized training and leadership development workshops. Her coaching philosophy – described by clients as “tough but loving”-centers on her belief that leaders aren’t born, they are made and that everyone has leadership capacity waiting to be unlocked through awareness, action and courage. Maureen was a mentor with the Freshman Founders Program at the Werth Institute at UConn Stamford, in addition to her volunteer work with CT NEXT and Startup Westport as a business mentor. She is also an angel investor with Tidal River Fund whose goal is to fund underrepresented founders. When not working with her clients whom she loves and adores, Maureen enjoys yoga, beach walks, and time with her three adult children (Patrick, Brendan and Caeleigh). She shares life in Cos Cob with her husband Mike Santini (fellow UConn grad) and their black lab, Nino.

    Neag School of Education (Sunday, May 11, 9 a.m. at Jorgensen Center for the Performing Arts): Suzanne M. Wilson

    Suzanne M. Wilson is the Neag Endowed Professor of Teacher Education at the University of Connecticut’s Neag School of Education, where she also serves as a professor in the Department of Curriculum and Instruction. Her undergraduate degree is in history and American studies from Brown University; she also has an M.S. in statistics and a Ph.D. in psychological studies in education from Stanford University. She was a University Distinguished Professor in the Department of Teacher Education at Michigan State University, where she served on the faculty for 26 years. Wilson also served as the first director of the Teacher Assessment Project, which developed prototype assessments for the National Board for Professional Teaching Standards. Wilson is a committed teacher, having taught undergraduate, master’s, and doctoral classes in educational policy, teacher learning, and research methods. She has directed 36 dissertations and served as a committee member for another 45. Wilson serves on multiple editorial and advisory boards. She was elected to the National Academy of Education in 2013 and to the American Academy of Arts and Sciences in 2022. Wilson has written on teacher knowledge, qualitative methods, curriculum reform, educational policy, and teacher preparation and professional development. She has published in Science, American Educator, American Educational Research Journal, Educational Researcher, Review of Educational Research, Elementary School Journal, Teaching and Teacher Education, Journal of Teacher Education, Phi Delta Kappa, and Teaching Education. She is the author of “California Dreaming: Reforming Mathematics Education” (Yale, 2003) and editor of Lee Shulman’s collection of essays, “Wisdom of Practice: Essays on Teaching, Learning, and Learning to Teach” (Jossey-Bass, 2004). She is currently working on a collection of essays entitled, “Why Teach?”

    College of Liberal Arts and Sciences Ceremony II (Sunday, May 11, 1:30 p.m. at Gampel Pavilion): Joe La Puma ‘05

    Joe La Puma serves as SVP of Content Strategy at Complex NTWRK and hosts Complex’s Sneaker Shopping, the world’s No. 1 sneaker show, which has garnered over 1 billion views on YouTube. He has been at the forefront of sneaker and street culture at Complex for the past 15 years. La Puma started his journalism career writing for The Daily Campus and was voted “Rookie of the Year” by fellow staffers. After graduating from UConn in 2005 with a degree in Journalism, he returned to Bay Shore to manage The Finish Line—where he previously worked in high school—while contributing articles to both local and global publications like Newsday and Hypebeast.com. In 2006, La Puma landed an internship at Complex magazine, a pop culture publication specializing in convergence culture through hip-hop, sneakers, and fashion. La Puma has written more cover stories (21) than any other writer in Complex history, including profiles on Justin Bieber, Katy Perry, and Kid Cudi. La Puma is also a published author of the book “Complex Presents: Sneaker of the Year: The Best Since ’85.” In his current SVP role, La Puma has led Complex to over 200% growth in audience and engagement. In 2014, Complex debuted the YouTube show Sneaker Shopping, a series that La Puma created and hosts to this day. Over the past decade of Sneaker Shopping, La Puma has interviewed icons like Eminem, Whoopi Goldberg, Kevin Hart, Mark Wahlberg, Billie Eilish, Cristiano Ronaldo, David Beckham, and conducted one of the only lifestyle interviews with former Vice President Kamala Harris during the 2020 election cycle. The show has filmed episodes across the U.S., as well as abroad in China, England, Spain, and Japan. With his extensive editorial work on footwear and over 300 episodes of Sneaker Shopping, La Puma is regarded as one of the foremost sneaker experts in the world. La Puma is a three-time Webby Award winner and has been featured on Good Morning America, and The Tonight Show With Jimmy Fallon. In 2024, La Puma was inducted into the Bay Shore High School Hall of Fame, a group that includes only 79 members since the school opened in 1893. La Puma currently lives in Brooklyn, and takes half-days at work when he can during UConn Basketball March Madness runs.

    School of Pharmacy – Doctor of Pharmacy (Sunday, May 11, 1:30 p.m. at Jorgensen Center for the Performing Arts): JoAnn Trejo

    JoAnn Trejo, Ph.D., MBA is professor of pharmacology and senior assistant Vice Chancellor for Health Sciences Faculty Affairs at the University of California (UC) San Diego. She completed her undergraduate degree at UC Davis, earned her Ph.D. and MBA at UC San Diego and completed postdoctoral training at UC San Francisco. Trejo is a basic science researcher with expertise in cell signaling in the context of vascular inflammation and cancer. Her research has been published in more than 100 peer-reviewed articles and she is a recipient of a NIH R35 Maximizing Investigators’ Research Award (MIRA) and the American Heart Association Established Investigator Award. Trejo is an outstanding educator, mentor and a leader actively engaged in initiatives aimed at enhancing excellence in science and pharmacology. She is the director of five NIH-supported training programs including the UC San Diego IRACDA Postdoctoral Scholars Program, FIRST Program and three early career faculty development programs. Trejo served as an elected member of the leadership Council for the ASCB and the American Society for Biochemistry and Molecular Biology and is a current member of the scientific advisory boards for Septerna and Versiti. She has also served on multiple NIH Study Sections, the NCI Board of Scientific Counselors for Basic Sciences, and Blavatnik, HHMI and Chan Zuckerberg foundation review panels. Trejo is a current member of the NIGMS Advisory Council. She is the Associate Editor for Molecular Biology of the Cell and is an editorial board member for Proceedings National Academy of Sciences Nexus, Journal of Biological Chemistry and Molecular Pharmacology. Trejo is an elected member of the National Academy of Medicine, American Society for Cell Biology (ASCB) Fellow and 100 Inspiring Hispanic / Latinx Scientists and was recently elected honorary fellow of the British Pharmacological Society.

    College of Liberal Arts and Sciences Ceremony III (Sunday, May 11, 5:30 p.m., Gampel Pavilion): Joe La Puma ‘05

    School of Pharmacy – Bachelor of Science (Sunday, May 11, 6 p.m., Jorgensen Center for the Performing Arts): Joe Honcz ‘98

    Joe Honcz is a distinguished expert in managed care and market access, boasting a robust 25-year career that spans significant sectors of the health care industry. Early in his career, he played a pivotal role in leading teams for the launch of Medicare Part D, followed by instrumental involvement in the implementation of the Affordable Care Act while at Anthem BCBS and Aetna. Since 2020, Joe has leveraged his profound understanding of managed care to deliver strategic market access insights, empowering over 20 biotech and pharmaceutical clients to effectively navigate complex market dynamics. His contributions have been crucial in the successful launch of innovative products in both traditional and rare/orphan disease categories. As a “pharmacy futurist,” he continues to drive innovation and shape market access strategies at Petauri Health, supporting the emerging pharmaceutical and health tech industries. His exceptional ability to anticipate industry trends has consistently provided clients with strategic advantages, enabling them to stay ahead of competitors with foresight and precision. Beyond his professional endeavors, Joe is actively involved at Yale Ventures as an Entrepreneur-in-Residence and at the University of Connecticut Technology Commercialization Services in the same capacity. He has also served as an Adjunct Professor at the University of St. Joseph School of Pharmacy and is on the Board of Directors for the Academy of Managed Care Pharmacy (AMCP) and Avery’s Little Army, whose mission is to honor the legacy of Avery Marie Lafferty, an exceptionally brave cancer rebel, and all patients like her. Joe’s extensive background is complemented by diverse roles at Pfizer, Walgreens, Humana, PrecisionAQ, and CVS. He holds a Bachelor of Science in Pharmacy and a Master of Business Administration with a concentration in Marketing from the University of Connecticut, underscoring his deep roots and commitment to the field. In addition to being a Board member, he is also an AMCP diplomat to the UConn School of Pharmacy, where he fulfills his passion for mentoring and coaching.

    The Graduate School – Masters Ceremony (Monday, May 12, 9 a.m. at Gampel Pavilion): Manasse Mbonye ’95 Ph.D.

    Manasse Mbonye is a Founding Fellow of the Rwanda Academy of Sciences (RAS) and its current President. He is also the Group Leader and Professor, Rwanda Astrophysics Space and Climate Sciences Research Group (RASCSRG) at the University of Rwanda and a member of the national Science Advisory Group (SAG). By Training, Mbonye is a theoretical Astrophysicist and Cosmologist. He completed his Ph.D. from the University of Connecticut in 1995. Mbonye has taught Physics at various institutions including UConn, the University of Michigan, and RIT. He has also worked at NASA (Goddard Space Flight Center). In 2012, Mbonye returned to Africa. Since then, his appointments have included, Provost (later) Ag Rector (National University of Rwanda), the first Principal (University of Rwanda, College of Science and Technology), and Executive Secretary (Rwanda’s National Council for Science and Technology, (NCST)). During Mbonye’s tenure, NCST instituted a major review of Rwanda’s Science, Technology, Research and Innovation (STRI) policy. Further, the National Research and Innovation Agenda (NRIA) was constructed, along with its implementation enabler, the National Research and Innovation Fund (NRIF) framework. Rwanda launched the NRIF in June 2018. Mbonye has served on the East African Science and Technology Commission (EASTCO) Board of Directors as its Rapporteur (2017-2018). He has also been Chairman of the Rwanda Energy Group (REG) (2015-2018), Rwanda’s sole electric energy production source and utility company. Prof. Mbonye continues to do research and supervise students, at the University of Rwanda.

     

    UConn Health (Monday, May 12, 1 p.m. at Jorgensen Center for the Performing Arts): Manisha Juthani

    Dr. Manisha Juthani, is the Commissioner of the Connecticut Department of Public Health (DPH). Juthani is the first Indian American to serve as a commissioner in the State of Connecticut. She served as professor of medicine at Yale School of Medicine through September 2024 and currently serves as an adjunct professor of medicine. She served as Director of the Infectious Diseases Fellowship Program from 2012 to 2021. Juthani received her B.A. from the University of Pennsylvania and M.D. from Cornell University Medical College, completed Internal Medicine residency training at New York-Presbyterian Hospital/Weill Cornell campus, and served as chief resident at Memorial-Sloan Kettering Cancer Center. She came to Connecticut in 2002 as an Infectious Diseases fellow at Yale School of Medicine. During the COVID-19 pandemic, Juthani was a leader in the COVID response at Yale which led to her appointment as Commissioner of CT DPH in 2021. In the early days of the pandemic, she was a voice to help educate the public in both local and national media outlets, a role she was able to expand in her role as Commissioner. Upon joining CT DPH, she helped guide Connecticut out of the pandemic and worked to revitalize areas of public health, such as gun violence, maternal health, opioid use, and sexually transmitted diseases, that were exacerbated during the pandemic. As she continues in her role as DPH Commissioner, Juthani has shifted her core vision to “Preserve and Protect Core Public Health Principles and Services.” As Connecticut is presented with new public health challenges, she remains committed to preserving public health achievements made over the years, including improvements in regulatory oversight in health care, drinking water, and environmental health which includes food safety. It is more important than ever to highlight the importance of vaccines, control of infectious diseases, road safety, and healthier mothers and babies. Clear, accurate communication about public health risks is vital to her mission. She continues to advocate for health as a human right which is the core vision of CT DPH. Juthani is on the Board of Directors of UConn Health.

    The Graduate School – Doctoral Ceremony (Monday, May 12, 6 p.m. at Jorgensen Center for the Performing Arts): Sethuraman Panchanathan

    Sethuraman “Panch” Panchanathan is a computer scientist and engineer who served as the 15th director of the United States National Science Foundation (NSF) from 2020 until 2025. Panchanathan was nominated to by the president in 2019 and unanimously confirmed by the Senate on June 18, 2020. NSF is a $9.06 billion independent federal agency, and the only government agency charged with advancing all fields of scientific discovery, technological innovation and science, technology, engineering and mathematics education.

    Panchanathan previously served as the executive vice president of the Arizona State University (ASU) Knowledge Enterprise, where he was also chief research and innovation officer. He was also the founder and director of the Center for Cognitive Ubiquitous Computing at ASU. Under his leadership, the university increased research performance fivefold, earning recognition as the fastest growing and most innovative research university in the U.S.

    Prior to joining NSF, Panchanathan was appointed by the president to serve on the National Science Board, where he was a chair of the Committee on Strategy and a member of the External Engagement and National Science and Engineering Policy committees. Additionally, he was chair of the Council on Research of the Association of Public and Land-grant Universities and co-chair of the Extreme Innovation Taskforce of the Global Federation of Competitiveness Councils. Arizona’s governor appointed Panchanathan as senior advisor for science and technology in 2018. He was the editor-in-chief of the Institute of Electrical and Electronics Engineers (IEEE) MultiMedia magazine and editor and associate editor of several international journals.

    For his scientific contributions, Panchanathan has received numerous awards, including honorary doctorates from prestigious universities, distinguished alumni awards, the Governor’s Innovator of the Year for Academia Award, the Washington Academy of Sciences Distinguished Career Award and the IEEE-USA Public Service Award.

    Panchanathan is a member of the National Academy of Engineering and a fellow of the National Academy of Inventors, where he also served as vice president for strategic initiatives. He is also a fellow of the American Association for the Advancement of Science, the Canadian Academy of Engineering, the Association for Computing Machinery, IEEE and the Society of Optical Engineering.

    School of Law (Sunday, May 18, 10:30 a.m. at UConn School of Law): Mayor Arunan Arulampalam

    The son of Sri Lankan refugees, Arunan Arulampalam was born in Zimbabwe and made a home and a family in Hartford after graduate school. Prior to being elected mayor of Hartford in November 2023, he served as CEO of the Hartford Land Bank, where he developed a first-in-the-nation program to train Hartford residents to become local developers and tackle blight in their city. Arulampalam served in Governor Ned Lamont’s administration as Deputy Commissioner of the Connecticut Department of Consumer Protection. Before that, he was a lawyer at the downtown firm Updike, Kelly & Spellacy, P.C. Arulampalam also served on the Board of the Hartford Public Library, the House of Bread, and on the Hartford Redevelopment Authority. He earned his BA in International Studies from Emory University and his JD from Quinnipiac University School of Law.

    MIL OSI USA News

  • MIL-OSI Africa: World Health Organization (WHO) and United Nations Children’s Fund (UNICEF) warn parents against unethical baby milk advertising in South Africa

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

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    The World Health Organization (WHO) and the United Nations Children’s Fund (UNICEF) are today launching a “Babies Before Bottom Lines” manifesto to warn parents in South Africa against false and unethical baby milk advertising. The manifesto was posted online today to call out “predatory and pervasive practices” and has been backed and shared by prominent parenting influencers around the country. 

    WHO and UNICEF are jointly calling the attention of parents and caregivers to the WHO International Code of Marketing of Breastmilk Substitutes and its related information sources. The code provides guidelines on stricter regulation of marketing of breastmilk substitutes, to curb harmful effects on babies’ short- and long-term health. 

    WHO’s Country Representative in South Africa, Shenaaz El-Halabi, says: “False, incomplete, misleading health and nutrition claims by formula companies should stop now. The WHO calls on formula milk companies to stop presenting incomplete scientific evidence and inferring unsupported health outcomes.”

    WHO and UNICEF are specifically calling on local regulators to update Regulations Relating to Foodstuffs for Infants and Young Children (aka R991) to include other advertising techniques and digital marketing practices that have become prevalent in the past few years since the International Code of Marketing of Breastmilk Substitutes of 1981 and local Regulation R991 of 2012 were drafted. Some popular social media platforms, whose algorithms can target specific consumers with specific messages at specific times, were still in their infancy or did not yet exist in 2012. Of particular concern is that parents are often targeted with information that blurs the lines between nutritional facts and promotional pseudo-science and emotional manipulation when they are at their most vulnerable.    

    The pseudo-scientific health claims made by formula companies discourage mothers from breastfeeding, which should always be a first choice as breastmilk is the most complete and healthiest milk for babies. In addition, widespread evidence exists that women have internalised doubts about the quality and quantity of their breastmilk, mirroring the themes and messaging of formula milk marketing campaigns.     

    In line with their multi-country study on the impacts of marketing breastmilk substitutes, WHO and UNICEF warn that “inappropriate promotion of breastmilk substitutes negatively impacts breastfeeding practices, and that advertisers are promoting a false choice between formula feeding and breastfeeding, without offering informed choice to parents about the real differences between breastmilk and various brands of formula”.

    UNICEF South Africa Representative, Christine Muhigana, notes that: “Government and civil society partners are to be commended for their efforts to address this concerning issue. It is evident that formula milk companies continue to actively target health professionals to convince them to prescribe formula. This Manifesto is part of a broader effort to address these unfair practices so that mothers and caregivers are fully aware of unethical marketing practices.”

    Cross promotion, also known as “brand extension” which is a marketing practice whereby one product is used to advertise another product by using similar branding, packaging and labelling (including but not limited to similar colours, design, font types, mascots and logos) has become a common practice by the bay formula companies.

    “All families need to be supported with evidence-based information so that they can make the most appropriate and informed decision for feeding their babies. Those choices, however, should never be exploited for corporate profits. We are finding again and again, all around the world, that unethical corporate influence is imposed on caregivers through false advertising. Companies use digital marketing algorithms that exploit parents when they are most vulnerable. They capitalize on parents’ doubts and questions. For instance, we see advertisers directing fake science at caregivers in the middle of the night, when they or their babies are struggling, to falsely convince them that bottle-fed babies sleep better than breastfed babies. This is wrong and needs to stop,” says Dr Laurence Grummer-Strawn, who leads WHO‘s work on infant and young child feeding.

    WHO and UNICEF have uncovered systematic and unethical marketing strategies by the US $55 billion infant formula industry, finding it uses the “infant formula industry uses pervasive, personalised and powerful methods to target parents when they are at their most vulnerable in the early days of their new babies life, and manipulate scientific claims to promote their products whilst undermining parents’ confidence”.

    Aqeelah Harron, an online content creator who owns the popular Fashion Breed social media platform, is supporting the campaign. “I’m a mom to a toddler and my child’s health matters to me more than anything. I think it’s wrong that powerful formula companies with big platforms are preying on parents to manipulate us into falling for fake science. Babies and new parents are vulnerable and should never be exploited. We need to prioritise comprehensive feeding education for all caregivers, free from the influence of profit-driven marketing.” Several other online influencers are also backing the campaign.

    WHO and UNICEF invite the public to join them in calling for an end to the aggressive marketing of formula milk, and to share their call to action: “Choose babies before bottom lines.” 

    Distributed by APO Group on behalf of World Health Organization (WHO) – South Africa.

    MIL OSI Africa

  • MIL-OSI: MINILUXE REPORTS FULL-YEAR FINANCIAL RESULTS FOR YEAR ENDED DECEMBER 29, 2024

    Source: GlobeNewswire (MIL-OSI)

    All reported figures in U.S. Dollars unless otherwise noted

    Boston, MA, April 29, 2025 (GLOBE NEWSWIRE) — MiniLuxe Holding Corp. (TSXV: MNLX) today announced its financial results for the 52 weeks ended December 29, 2024 (FY2024). The fiscal year of MiniLuxe (the “Company”) is a 52-week reporting cycle which ended in 2024 on Sunday, December 29, 2024.

    As the Company has previously and consistently shared, there were three key strategic and performance objectives for 2024.

    Key 2024 Strategic Pillars

    1. Accelerate overall studio-level profitability (i.e. store level contribution) growth
    2. Drive growth through operating partners (via JVs or M&A) and franchise partners
    3. Increase fixed cost leverage and SG&A efficiency

    Across each of these core strategic pillars and 2024 performance objectives, the Company made material progress.

    Highlights of Business Performance

    • Studio-level profitability (store-level cash contribution) grew YoY 360 percent.
    • As a percentage of revenue, SG&A reduced to under 16 percent, which represented a decrease of approximately 24 percent versus prior year while gross profit grew to $11M or +8 percent improvement versus prior year.
    • The net effect of both increasing studio cash contribution, decreasing SG&A and increasing gross profit margin led to adjusted EBITDA losses being cut by more than half in 2024 to -$4.0M from -$9.0M in 2023.
    • Operating cash burn improved by a factor of over 3x to just over -$2M in 2024 from -$7M in 2023.
    • FY2024 year-end cash, cash equivalent and restricted cash reached $4M, an improvement of $.6M versus $3.4M at year-end FY2023 due to a combination of dramatically reduced cash burn and ~$1.6M coming from the first closing of a non-brokered private placement which was originally announced on November 27, 2024. (more details below).

    The Company seeks to maintain this positive momentum in 2025, progressing increasingly closer to overall company-wide profitability. Total Company revenue for 2024 finished at a record level of $26.1M or just over 6% YoY growth, compared to $24.6M in 2023. While the overall quantum of YoY growth was relatively modest, the quality and increased profitability of that growth was both very significant and intentional in terms of the Company’s operating strategy. These results were accomplished by driving revenue growth through studio specific KPIs, some studios were held to more constrained growth (to better focus on improving efficiencies and profitability) while the majority of the fleet portfolio were managed to all-time-record revenue highs. In terms of unit-level revenue, two studios crossed over the $2M revenue threshold before the end of the year (ultimately reaching ~$1,500 per square feet of sales). The top 25 percent of studios in the fleet are now at a median of ~$1.9M per unit volume and the top 50 percent at ~ $1.6M.

    Also noteworthy is that MiniLuxe’s most loyal client base – those visiting 20+ times per year – grew 4.5% year-over-year between 2024 and 2023. In any given month, the split of customers is between ~88% repeat and ~12% new customers.

    Throughout 2024 and as the Company goes into 2025, the focus on Operating Partners remains core to the Company’s strategy to leverage its brand and platform while scaling growth through localized operators. In July of 2024, MiniLuxe announced its first operating and JV partner for the Atlanta region with the business Sugarcoat. As part of the joint venture agreement, MiniLuxe took a majority ownership stake of one Sugarcoat location in The Forum Peachtree Corners in Atlanta. On December 17th of 2024, MiniLuxe also announced its first franchise operating partner, Ms. Quynh Pham, who opened a MiniLuxe studio in Brookline, MA (taking over the old MiniLuxe Academy Studio). Both joint venture and franchise partners have rapidly brought forward fresh ideas and hyper-localized marketing and new operational best-practices translating into increased week-over-week sales, walk-ins and utilization levels. During 2024 the Company also had its first full year of results with its regional operating partner in the Dallas Fort Worth area which saw a lift in profitability of over 5x within the year.

    A key driver to longer-term growth and competitive advantage has been the Company’s ability to attract and retain its ecosystem of nail designer talent. FY2024 represented a record year in terms of annual retention of designer talent which was at 87 percent, up 3 percentage points from 84 percent in 2023. Additionally, a number of nail designers crossed their five-year anniversaries with the Company and now over 50 percent of the nail designer talent employment base hold tenure with the Company for 5 years or more.

    In 2024 the team demonstrated our deepest understanding of unit economics and KPIs, delivering the strongest studio performance across the portfolio, while diversifying our revenue streams with new JV, franchise and operating partners – setting us up on our journey towards greater scale and growth. We head into 2025 with a record level of 360%+ YoY studio profitability, deepening brand loyalty amongst our customer base, a strong balance sheet, and much enthusiasm for what’s ahead.” said Tony Tjan, Chief Executive Officer and Co-founder of MiniLuxe.

    Subsequent Events and 2025 Outlook

    To date, the first part of Q1 2025 presented the Company with both early progress towards its strategic priorities but also headwinds in the form of the LA wildfires and the introduction of US tariffs on trade partners.

    The LA fires impacted foot traffic and demand for Beverly Hills and Brentwood Studios. The Company has taken measures to address this potential impact to studio economics with increased leadership support and connectivity with the local community such that demand has begun to return (but is not anticipated to fully recover until 2H 2025).

    While the vast majority of MiniLuxe’s products are made in the US, the company is still making efforts to further minimize supply related exposure by exploring options to shift sourcing from China to US based vendors and lower tariff markets like Vietnam and Taiwan. These early moves are designed to optimize and protect gross margins in MiniLuxe’s proprietary products and Paintbox custom press on products and packaging.

    Early wins in Q1 of 2025 include closing on a new tranche of funding and reaching an agreement for the conversion of all of the Company’s remaining balance of convertible notes as explained below.

    Effective February 10, 2025, the Company completed a non-brokered private placement of Class A subordinate voting shares of the Company and raised a total of USD $3.49M or (~CDN $4.94M) through the issuance of 6,247,717 Subordinate Voting Shares at a price of USD $0.55 each (CDN $0.79) Together, with the first private placement closing and this second and final closing of the Offering raised total new primary capital for the Company in the amount of USD $5.067M or (~CDN $7.26M). 

    Alongside the private placement offering, the Company also finalized additional shares-for-debt agreements to satisfy an aggregate of USD$1,055,577 (~CDN$1.49 million) of outstanding debt related to the principal and accrued but unpaid interest on certain convertible debentures of the Company (the “Debentures”). As part of this debt conversion, an aggregate of 2,294,731 Subordinate Voting Shares were issued at a deemed price of USD$0.46 per share, with an effective conversion date of February 7, 2025.

    The Company offered existing Debenture holders participating in the Offering the opportunity to elect to receive Subordinate Voting Shares at a discounted conversion price relative to the original terms of the Debentures. All Debenture holders electing to convert are deemed to be at arm’s length from the Company. The issuance of these shares remains subject to TSX Venture Exchange approval. Similarly, completion of all tranches of the private placement Offering is subject to the satisfaction of customary closing conditions, including the approval of the TSX Venture Exchange. The securities issued pursuant to the initial closing of the Offering are subject to a hold period of four months and one day from the issuance date in accordance with applicable securities laws.

    On March 11, 2025, the Company announced the refinancing and extension of maturity of its existing senior debt to 2028 to be coincident with a new tranche of $1.675M of senior debt from Flow Capital.

    On March 21, 2025, the Company announced that it had reached agreement for the conversion of all of its remaining balance of convertible notes.

    2024 Results

    Selected Financial Measures

    Results of Operations

    The following table outlines the consolidated statements of loss and comprehensive loss for the fiscal year which ended December 29, 2024, and December 31, 2023.

    Cash Flows

    The following table presents cash and cash equivalents for the fiscal year which ended December 29, 2024, and December 31, 2023.

    Non-IFRS Measures and Reconciliation of Non-IFRS Measures

    This press release references certain non-IFRS measures used by management. These measures are not recognized under International Financial Reporting Standards (“IFRS”), do not have a standardized meaning prescribed by IFRS, and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement those IFRS measures by providing further understanding of the Company’s results of operations from management’s perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of the Company’s financial information reported under IFRS. The non-IFRS measures referred to in this press release are “Adjusted EBITDA” and “Fleet Adjusted EBITDA”.

    Adjusted EBITDA

    Management believes Adjusted EBITDA most accurately reflects the commercial reality of the Company’s operations on an ongoing basis by adding back non-cash expenses. Additionally, the rent-related adjustments ensure that studio-related expenses align with revenue generated over the corresponding time periods.

    Adjusted EBITDA is calculated by adding back fixed asset depreciation, right-of-use asset amortization under IFRS 16, asset disposal, and share-based compensation expense to IFRS operating income, then deducting straight-line rent expenses net of lease abatements. IFRS operating income is revenue less cost of sales (gross profit), additionally adjusted for general and administrative expenses, and depreciation and amortization expenses.

    A reconciliation of IFRS operating income to Adjusted EBITDA is included in Selected Consolidated Financial Information.

    The Company also uses Fleet Adjusted EBITDA to evaluate the performance of its MiniLuxe Core Studio business (19 MiniLuxe-branded studios operating for 18+ months). This metric is calculated in a similar manner, starting with Talent revenue and adjusting for non-fleet Talent revenue and cost of sales, further adjusted by fleet general and administrative expenses and finally subtracting straight line rent expense (similar to amount used in the full company Adjusted EBITDA, less amounts allocated to locations outside of MiniLuxe’s core studio business, i.e. Paintbox). The Company believes that this metric most closely mirrors how management views the fleet portion of the business. A reconciliation of Talent revenue to Fleet Adjusted EBITDA is included in Selected Consolidated Financial Information.

    The following table reconciles net Operating Loss to Adjusted EBITDA for FY24 and FY23.

    The following table reconciles Fleet Talent Revenue to Fleet Adjusted EBITDA for FY24 and FY23.

    _____________________________________________

    Straight-line rent expense for a given payment period is calculated by dividing the sum of all payments over the life of the lease (the figure used in the present value calculation of the right-of-use asset) by the number of payment periods (typically months). This number is then annualized by adding the rent expenses calculated for the payment periods that comprise each fiscal year. For leases signed mid-year, the total straight-line rent expense calculation applies the new lease terms only to the payment periods after the signing of the new lease.

    About MiniLuxe

    MiniLuxe, a Delaware corporation based in Boston, Massachusetts. MiniLuxe is a lifestyle brand and talent empowerment platform servicing the beauty and self-care industry. The Company focuses on delivering high-quality nail care and esthetic services and offers a suite of trusted proprietary products that are used in the Company’s owned-and-operated studio services. For over a decade, MiniLuxe has been elevating industry standards through healthier, ultra-hygienic services, a modern design esthetic, socially responsible labor practices, and better-for-you, cleaner products. MiniLuxe’s aims to radically transform a highly fragmented and under-regulated self-care and nail care industry through its brand, standards, and technology platform that collectively enable better talent and client experiences. For its clients, MiniLuxe offers best-in-class self-care services and better-for-you products, and for nail care and beauty professionals, MiniLuxe seeks to become the employer of choice. In addition to creating long-term durable economic returns for our stakeholders, the brand seeks to positively impact and empower one of the most diverse and largest hourly worker segments through professional development and certification, economic mobility, and company ownership opportunities (e.g., equity participation and future franchise opportunities). Since its inception, MiniLuxe has performed over 4 million services.

    For further information

    Christine Mastrangelo
    ‎Investor Relations, MiniLuxe Holding Corp.
    cmastrangelo@MiniLuxe.com
    MiniLuxe.com 

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Forward-looking statements

    This press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) concerning the Company and its subsidiaries within the meaning of applicable securities laws. Forward-looking information may relate to the future financial outlook and anticipated events or results of the Company and may include information regarding the Company’s financial position, business strategy, growth strategies, acquisition prospects and plans, addressable markets, budgets, operations, financial results, taxes, dividend policy, plans and objectives. Particularly, information regarding the Company’s expectations of future results, performance, achievements, prospects or opportunities or the markets in which the Company operates is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects”, “budgets”, “scheduled”, “estimates”, “outlook”, “forecasts”, “projects”, “prospects”, “strategy”, “intends”, “anticipates”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, or “will” occur. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances.

    Many factors could cause the Company’s actual results, performance, or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking information, including, without limitation, those listed in the “Risk Factors” section of the Company’s filing statement dated November 9, 2021. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance, or achievements could vary materially from those expressed or implied by the forward-looking statements contained in this press release. 

    Forward-looking information, by its nature, is based on the Company’s opinions, estimates and assumptions in light of management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors that the Company currently believes are appropriate and reasonable in the circumstances. Those factors should not be construed as exhaustive. Despite a careful process to prepare and review forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking information. Although the Company bases its forward-looking information on assumptions that it believes were reasonable when made, which include, but are not limited to, assumptions with respect to the Company’s future growth potential, results of operations, future prospects and opportunities, execution of the Company’s business strategy, there being no material variations in the current tax and regulatory environments, future levels of indebtedness and current economic conditions remaining unchanged, the Company cautions readers that forward-looking statements are not guarantees of future performance and that our actual results of operations, financial condition and liquidity, and the development of the industry in which the Company operates may differ materially from the forward-looking statements contained in this press release. In addition, even if the Company’s results of operations, financial condition and liquidity, and the development of the industry in which it operates are consistent with the forward-looking information contained in this press release, those results or developments may not be indicative of results or developments in subsequent periods.

    Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to the Company or that the Company presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information, which speaks only as of the date made (or as of the date they are otherwise stated to be made). Any forward-looking statement that is made in this press release speaks only as of the date of such statement.

    The MIL Network

  • MIL-OSI: XRP News: XenDex Soft Cap Almost Filled as Demand Explodes $XDX Tokens Selling Out Ahead of Exchange Listing

    Source: GlobeNewswire (MIL-OSI)

    SYDNEY, Australia, April 29, 2025 (GLOBE NEWSWIRE) — The window is closing fast. XenDex, the revolutionary all-in-one decentralized exchange built on the XRP Ledger, is on the brink of selling out its presale and early buyers may never see these current prices again, keep reading.

    In a week dominated by XRP market milestones, including Brazil’s first XRP Spot ETF approval, the SEC’s lawsuit withdrawal, and the greenlight for ProShares’ XRP Futures ETF — XenDex has emerged as the go-to DeFi platform for XRP holders. Now, with its soft cap almost completely filled, the urgency to secure $XDX tokens has reached new heights.

    Buy $XDX Now!

    XDX Price Set to Increase After Today

    Currently, 1 XRP = 10 XDX, But once the soft cap is filled, 1.25 XRP will be required to purchase 10 XDX.

    That’s a 25% increase after the soft cap is raised, and with demand surging, this is the final opportunity to buy $XDX at its lowest possible rate.

    Join the Presale Now: https://xendex.net/presale

    High-Profile Listings Confirmed

    Once the presale concludes, $XDX is already lined up for listing on major exchanges, including:

    • Binance
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    • FirstLedger
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    These listings will open the doors to global liquidity, institutional access, and high-volume trading, making today’s entry price even more critical.

    Purchase XDX At Lowest Presale Price

    What Makes XenDex Different

    Unlike anything currently on XRPL, XenDex delivers:

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    Thousands are already in and holding $XDX, what are you waiting for?

    The XenDex community is exploding across Telegram and Twitter, with whales and retail investors alike locking in their $XDX allocations before the price jump. Presale supply is shrinking by the hour and when it’s gone, it’s gone.

    Join XenDex Presale

    Final chance to buy at launch price is now! Do not miss it.

    This is your last chance to get in before $XDX becomes more expensive.

    Don’t wait until tomorrow to regret what you could have done today.

    Visit Official XenDex Links

    Website: https://xendex.net
    Presale: https://xendex.net/presale
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    Frank Richards
    Frank@xendex.net

    Disclaimer: This is a paid post provided by XenDex. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5fc1748f-4060-4d9b-a620-c57ff79a5e61

    The MIL Network

  • MIL-OSI: Form 8.3 – [ALLIANCE PHARMA PLC – 28 04 2025] – (CGWL)

    Source: GlobeNewswire (MIL-OSI)

    FORM 8.3

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

    1.        KEY INFORMATION

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

    2.        POSITIONS OF THE PERSON MAKING THE DISCLOSURE

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

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

    Class of relevant security: 1p ORDINARY
      Interests Short positions
    Number % Number %
    (1)   Relevant securities owned and/or controlled: 11,930,353 2.2070    
    (2)   Cash-settled derivatives:        
    (3)   Stock-settled derivatives (including options) and agreements to purchase/sell:        
    TOTAL: 11,930,353 2.2070    

    All interests and all short positions should be disclosed.

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

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

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

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

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

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

    (a)        Purchases and sales

    Class of relevant security Purchase/sale Number of securities Price per unit
    1p ORDINARY SALE 36,552 64.4322p

    (b)        Cash-settled derivative transactions

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

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

    (i)        Writing, selling, purchasing or varying

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

    (ii)        Exercise

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

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

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

    4.        OTHER INFORMATION

    (a)        Indemnity and other dealing arrangements

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

    NONE

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

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

    NONE

    (c)        Attachments

    Is a Supplemental Form 8 (Open Positions) attached? NO
    Date of disclosure: 29 APRIL 2025
    Contact name: MARK ELLIOTT
    Telephone number: 01253 376539

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

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

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

    The MIL Network

  • MIL-OSI: Passing of Columbus A/S’ Annual General Meeting and subsequent constitution of the Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 4/2025

    At Columbus A/S’ Annual General Meeting held on 29 April 2025, all proposals set out in the agenda were adopted, including the following;

    1. The General Meeting took note of the Board of Directors’ report.

    2. The Annual Report for 2024 was approved.

    3. The Board of Directors’ proposal regarding distribution of profit was adopted, including payment of an ordinary dividend to the shareholders of DKK 0.125 per share of DKK 1.25 (nom), amounting to a total dividend of DKK 16,159,533.

    4. The Remuneration Report for 2024 was approved in the indicative ballot.

    5. The General Meeting authorised the Board of Directors for a period of 18 months from the date of the General Meeting to acquire up to 10 per cent of the Company’s share capital against payment which shall not deviate more than 10 per cent up or downwards from the latest listed price of the shares at Nasdaq Copenhagen prior to the acquisition.

    6. Ib Kunøe, Peter Skov Hansen, Sven Madsen, Karina Kirk and Per Kogut were re-elected to the Board of Directors.

    7. Election of state authorized public accountants:

    7.1 Pricewaterhousecoopers Statsautoriseret Revisionspartnerselskab, CVR-no. 33 77 12 31 was re-elected as auditor of the Company, and only one auditor was elected.

    7.2 Pricewaterhousecoopers Statsautoriseret Revisionspartnerselskab, CVR-no. 33 77 12 31 was re-elected to provide a statement on the management’s sustainability reporting

    Following the Annual General Meeting, the Board of Directors convened and constituted itself with Ib Kunøe as Chairman of the Board and Sven Madsen as Deputy Chairman of the Board.

    Ib Kunøe                        Søren Krogh Knudsen
    Chairman of the Board                CEO & President

    For further information, please contact:

    CEO & President, Søren Krogh Knudsen, tel :+45 70 20 50 00

    Attachment

    The MIL Network

  • MIL-OSI: Inflection Point Acquisition Corp. III Announces Closing of $253,000,000 Million Initial Public Offering

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 29, 2025 (GLOBE NEWSWIRE) — Inflection Point Acquisition Corp. III (the “Company”), a special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, today announced the closing of its initial public offering of 25,300,000 units, which includes 3,300,000 units issued pursuant to the full exercise by the underwriters of their overallotment option at a price of $10.00 per unit, resulting in gross proceeds of $253,000,000. Each unit consists of one Class A ordinary share and one right to receive one-tenth (1/10) of one Class A ordinary share upon the closing of the Company’s initial business combination. The units are listed on The Nasdaq Global Market, or Nasdaq, and began trading under the ticker symbol “IPCXU” on April 25, 2025. Once the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to be listed on Nasdaq under the symbols “IPCX” and “IPCXR,” respectively.

    Concurrently with the closing of the initial public offering, the Company closed on a private placement of 740,000 private placement units at a price of $10.00 per unit, resulting in gross proceeds of $7,400,000. Inflection Point Holdings III LLC, the Company’s sponsor, purchased 500,000 of the private placement units and Cantor Fitzgerald & Co., the representative of the underwriters of the initial public offering, purchased 240,000 of the units. Each private placement unit consists of one Class A ordinary share and one right to receive one-tenth (1/10) of one Class A ordinary share upon closing of the Company’s initial business combination.

    The Company intends to pursue a business combination with a North American or European business in disruptive growth sectors, which complements the expertise of its management team, but may pursue an initial business combination in any industry, sector or geographic region. The Company is led by Chairman and Chief Executive Officer Michael Blitzer, Chief Financial Officer Peter Ondishin, Chief Operating Officer Kevin Shannon, and Directors Daniel Hoffman, Dr. Kamal Ghaffarian, William Denkin, and Noah Levy.

    Cantor Fitzgerald & Co. acted as sole book-running manager for the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 3,300,000 units to cover over-allotments, if any. Concurrently with the closing of the initial public offering, the underwriters exercised the option to purchase an additional 3,300,000 units in full.

    A registration statement on Form S-1 (File No. 333- 283427), as amended, relating to the securities was declared effective by the Securities and Exchange Commission (“SEC”) on April 24, 2025. The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from: Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor New York, New York 10022; Email: prospectus@cantor.com.

    Of the net proceeds received from the consummation of the initial public offering and simultaneous private placement, $253,000,000 ($10.00 per unit sold in the public offering) was placed in trust. An audited balance sheet of the Company as of April 28, 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 U.S. Securities and Exchange Commission (the “SEC”).

    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,” including with respect to the anticipated use of the net proceeds of the initial public offering and simultaneous private placement. 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 offering filed with the SEC. Copies 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.

    About Inflection Point Acquisition Corp. III

    Inflection Point Acquisition Corp. III’s acquisition and value creation strategy is to identify, partner with and help grow North American and European businesses in disruptive growth sectors, which complements the expertise of its management team. However, the Company may pursue an initial business combination in any industry, sector or geographic region.

    Contact
    Kevin Shannon
    Inflection Point Acquisition Corp. III
    info@inflectionpointacquisition.com

    The MIL Network

  • MIL-OSI: CECO Environmental Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    Numerous Financial Records Reflect Strength of Well-Positioned Portfolio
    Company Maintains Full Year Outlook

    ADDISON, Texas, April 29, 2025 (GLOBE NEWSWIRE) — CECO Environmental Corp. (Nasdaq: CECO) (“CECO”), a leading environmentally focused, diversified industrial company whose solutions protect people, the environment, and industrial equipment, today reported its financial results for the first quarter of 2025.

    First Quarter Summary(1)

    • Orders of $227.9 million, up 57 percent
    • Backlog of $602.0 million, up 55 percent
    • Revenue of $176.7 million, up 40 percent
    • Gross profit margin of 35.2 percent; Gross margin of $68.0 million, up 28 percent
    • Net income of $36.0 million; non-GAAP net income of $3.5 million
    • GAAP EPS (diluted) of $0.98; non-GAAP EPS (diluted) of $0.10
    • Adjusted EBITDA of $14.0 million, up 6 percent
    • Free cash flow of $(15.1) million, down $13.2 million

    (1) All comparisons are versus the comparable prior year period, unless otherwise stated.
    Reconciliations of GAAP (reported) to non-GAAP measures are in the attached financial tables.

    Todd Gleason, CECO’s Chief Executive Officer commented, “We started 2025 with outstanding first quarter record orders of $228 million, which helped drive new record levels of backlog and revenue for the company. This is a powerful statement on the strength of our well-positioned portfolio, which is closely aligned to key long-term growth themes of industrial manufacturing reshoring, electrification, power generation, natural gas infrastructure, and industrial water investments. This marks the second consecutive quarter with bookings greater than $200 million, which has enabled our backlog to exceed $600 million for the first time in Company history. With our order pursuit pipeline now over $5 billion, we remain highly confident in our continued growth outlook.”

    First quarter operating income was $61.9 million, up $54.2 million when compared to $7.7 million in the first quarter 2024. On an adjusted basis, non-GAAP operating income was $8.6 million, down $1.6 million or 16 percent when compared to $10.2 million in the first quarter of 2024. Net income was $36.0 million in the quarter, up $34.5 million compared to $1.5 million in the first quarter 2024. Non-GAAP net income was $3.5 million, down $0.5 million when compared to $4.0 million in the first quarter 2024. Adjusted EBITDA of $14.0 million, reflecting an Adjusted EBITDA margin of 7.9 percent, was up 6 percent compared to $13.2 million in the first quarter 2024. Free cash flow in the quarter was $(15.1) million, down $13.2 million compared to $(1.9) million in the first quarter of 2024.

    “In the first quarter, we introduced strategic price actions to address preliminary tariff impacts. Additionally, to proactively manage our record backlog and robust project pipeline, we selectively pulled-in some inventory purchases and added key operational and customer-centric personnel to maintain the highest level of project execution. These additions drove incremental engineering, project management and business development costs during the first quarter as well as utilizing additional cash. This had the effect of depressing Adjusted EBITDA in the quarter, but these proactive measures were important to better position CECO for executing on our record backlog. Starting in Q2 2025, we will take strategic cost actions associated with eliminating redundant general and administrative roles and expenses resulting from our programmatic M&A and will expand our ongoing productivity and efficiency initiatives. We expect the benefits from these actions, when combined with continued strong volume growth, will underpin operating margin expansion throughout the year,” added Gleason.

    2025 Full Year Guidance

    For the full year 2025 outlook, the Company maintains its expectation to deliver Revenue of $700 to $750 million, up approximately 30 percent at the midpoint year and maintains its expected range for Adjusted EBITDA of $90 to $100 million, up approximately 50 percent at the midpoint versus 2024. The Company maintains its 2025 adjusted free cash flow to be between 60 and 75 percent of Adjusted EBITDA.

    “We are very pleased with the strong start to the year as our industrial air, industrial water and energy transition businesses continue to drive growth through our operating model leveraging their respective niche leadership positions, and flexible business models. Our record backlog and opportunity pipeline provide me with confidence in achieving our growth targets for the year. While we recognize we are in a very dynamic environment which makes it difficult to predict the impact tariffs and other related uncertainties might have on the economy and on our operations, we believe that our direct exposure to tariff-related imports is relatively modest. CECO is comparatively well-positioned as we execute and manufacture a majority of our business in the same regions in which we sell. At present, this aspect of our business design and operating model, coupled with the cost actions we have taken, allows us to maintain our full year outlook – but we are monitoring the economic situation and working with our supply chain to aggressively manage any additional cost expenses which might arise over the course of the year,” concluded Gleason.

    EARNINGS CONFERENCE CALL

    A conference call is scheduled for today at 8:30 a.m. ET to discuss the first quarter 2025 financial results. Please visit the Investor Relations portion of the website (https://investors.cecoenviro.com) to listen to the call via webcast. The conference call may also be accessed by visiting https://edge.media-server.com/mmc/p/tvr2idgu.

    A replay of the conference call will be available on the Company’s website for a period of one year. The replay may also be accessed by visiting https://edge.media-server.com/mmc/p/tvr2idgu.

    ABOUT CECO ENVIRONMENTAL

    CECO Environmental is a leading environmentally focused, diversified industrial company, serving the broad landscape of industrial air, industrial water and energy transition markets globally providing innovative solutions and application expertise. CECO helps companies grow their business with safe, clean, and more efficient solutions that help protect people, the environment and industrial equipment. CECO solutions improve air and water quality, optimize emissions management, and increase energy efficiency for highly-engineered applications in power generation, midstream and downstream hydrocarbon processing and transport, electric vehicle production, polysilicon fabrication, semiconductor and electronics, battery production and recycling, specialty metals and steel production, beverage can, and water/wastewater treatment and a wide range of other industrial end markets. CECO is listed on Nasdaq under the ticker symbol “CECO.” Incorporated in 1966, CECO’s global headquarters is in Addison, Texas. For more information, please visit www.cecoenviro.com.

    Company Contact:
    Peter Johansson
    Chief Financial and Strategy Officer
    888-990-6670
    investor.relations@onececo.com

    Investor Relations Contact:
    Steven Hooser and Jean Marie Young
    Three Part Advisors, LLC
    214-872-2710
    investor.relations@onececo.com

    CECO ENVIRONMENTAL CORP.
    CONSOLIDATED BALANCE SHEETS
    (unaudited)
     
    (in thousands, except per share data)   March 31,
    2025
        December 31,
    2024
     
    ASSETS            
    Current assets:            
    Cash and cash equivalents   $ 146,471     $ 37,832  
    Restricted cash     205       369  
    Accounts receivable, net allowances of $8,663 and $8,863     152,405       159,572  
    Costs and estimated earnings in excess of billings on uncompleted contracts     83,335       69,889  
    Inventories     52,919       42,624  
    Prepaid expenses and other current assets     36,910       16,859  
    Prepaid income taxes     3,856       3,826  
    Total current assets     476,101       330,971  
    Property, plant and equipment, net     46,063       33,810  
    Right-of-use assets from operating leases     24,419       25,102  
    Goodwill     274,769       269,747  
    Intangible assets – finite life, net     109,250       74,050  
    Intangible assets – indefinite life     9,559       9,466  
    Deferred income taxes     210       966  
    Deferred charges and other assets     16,724       15,587  
    Total assets   $ 957,095     $ 759,699  
    LIABILITIES AND SHAREHOLDERS’ EQUITY            
    Current liabilities:            
    Current portion of debt   $ 1,673     $ 1,650  
    Accounts payable     109,504       109,671  
    Accrued expenses     59,176       47,528  
    Billings in excess of costs and estimated earnings on uncompleted contracts     87,870       81,501  
    Notes payable     700       1,700  
    Income taxes payable     19,831       2,612  
    Total current liabilities     278,754       244,662  
    Other liabilities     4,314       14,362  
    Debt, less current portion     338,037       217,230  
    Deferred income tax liability, net     26,481       11,322  
    Operating lease liabilities     19,458       20,230  
    Total liabilities     667,044       507,806  
    Commitments and contingencies (See Note 14)            
    Shareholders’ equity:            
    Preferred stock, $.01 par value; 10,000 shares authorized, none issued            
    Common stock, $.01 par value; 100,000,000 shares authorized, 35,250,489 and
    34,978,009 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively
        352       349  
    Capital in excess of par value     255,807       255,211  
    Retained earnings     42,554       6,570  
    Accumulated other comprehensive loss     (12,922 )     (14,441 )
    Total CECO shareholders’ equity     285,791       247,689  
    Noncontrolling interest     4,260       4,204  
    Total shareholders’ equity     290,051       251,893  
    Total liabilities and shareholders’ equity   $ 957,095     $ 759,699  
    CECO ENVIRONMENTAL CORP.
    CONSOLIDATED STATEMENTS OF INCOME
    (unaudited)
     
        Three months ended March 31,  
    (in thousands, except per share data)   2025     2024  
    Net sales   $ 176,697     $ 126,332  
    Cost of sales     114,535       81,200  
    Gross profit     62,162       45,132  
    Selling and administrative expenses     53,542       34,908  
    Amortization expenses     3,096       2,156  
    Acquisition and integration expenses     8,143       190  
    Gain on sale of Global Pump Solutions business     (64,502 )      
    Other expenses     13       192  
    Income from operations     61,870       7,686  
    Other expense, net     (594 )     (1,513 )
    Interest expense     (6,217 )     (3,413 )
    Income before income taxes     55,059       2,760  
    Income tax expense     18,617       667  
    Net income     36,442       2,093  
    Noncontrolling interest     (458 )     (585 )
    Net income attributable to CECO Environmental Corp.   $ 35,984     $ 1,508  
    Earnings per share:            
    Basic   $ 1.03     $ 0.04  
    Diluted   $ 0.98     $ 0.04  
    Weighted average number of common shares outstanding:            
    Basic     35,028,301       34,846,163  
    Diluted     36,689,320       36,177,323  
    CECO ENVIRONMENTAL CORP.
    CONSOLIDATED STATEMENTS OF CASH FLOWS
     
        Three months ended March 31,  
    (in thousands)   2025     2024  
    Cash flows from operating activities:            
    Net income   $ 36,442     $ 2,093  
    Adjustments to reconcile net income to net cash provided by (used in) operating activities:            
    Depreciation and amortization     5,115       3,512  
    Unrealized foreign currency gain (loss)     (1,142 )     149  
    Gain on sale of Global Pump Solutions business     (64,502 )      
    (Loss) gain on sale of property and equipment     (15 )     115  
    Debt discount amortization     206       120  
    Share-based compensation expense     3,356       1,670  
    Provision (recovery) for credit loss     819       (384 )
    Inventory reserve expense     92       499  
    Deferred income tax benefit     166        
    Changes in operating assets and liabilities, net of acquisitions:            
    Accounts receivable     16,215       (5,355 )
    Costs and estimated earnings in excess of billings on uncompleted contracts     (12,270 )     7,858  
    Inventories     (2,416 )     (4,447 )
    Prepaid expense and other current assets     (17,652 )     1,211  
    Deferred charges and other assets     (1,137 )     (221 )
    Accounts payable     (3,633 )     (2,442 )
    Accrued expenses     8,865       1,220  
    Billings in excess of costs and estimated earnings on uncompleted contracts     5,933       1,262  
    Income taxes payable     17,220       (387 )
    Other liabilities     (3,358 )     (5,249 )
    Net cash (used in) provided by operating activities     (11,696 )     1,224  
    Cash flows from investing activities:            
    Acquisitions of property and equipment     (3,385 )     (3,116 )
    Net cash proceeds for sale of Global Pump Solutions business     105,860        
    Net cash (paid) received for acquisitions, net of cash acquired     (97,646 )     422  
    Net cash provided by (used in) investing activities     4,829       (2,694 )
    Cash flows from financing activities:            
    Borrowings on revolving credit lines     148,100       13,400  
    Repayments on revolving credit lines     (27,600 )     (12,600 )
    Repayments of long-term debt     (420 )     (2,553 )
    Payments on finance leases and financing liability     (234 )     (229 )
    Deferred consideration paid for acquisitions     (1,000 )     (1,000 )
    Equity awards surrendered by employees for tax liability, net of proceeds from employee stock purchase plan and exercise of stock options     (2,688 )     258  
    Noncontrolling interest distributions     (402 )     (804 )
    Common stock repurchased           (3,000 )
    Net cash provided by (used in) financing activities     115,756       (6,528 )
    Effect of exchange rate changes on cash, cash equivalents and restricted cash     (414 )     (422 )
    Net increase (decrease) in cash, cash equivalents and restricted cash     108,475       (8,420 )
    Cash, cash equivalents and restricted cash at beginning of period     38,201       55,448  
    Cash, cash equivalents and restricted cash at end of period   $ 146,676     $ 47,028  
    Cash paid during the period for:            
    Interest   $ 3,987     $ 3,269  
    Income taxes   $ 2,405     $ 975  
    CECO ENVIRONMENTAL CORP.
    RECONCILIATION OF GAAP TO NON-GAAP MEASURES
     
        Three months ended March 31,  
    (in millions, except ratios)   2025     2024  
    Operating income as reported in accordance with GAAP   $ 61.9     $ 7.7  
    Operating margin in accordance with GAAP     35.0 %     6.1 %
    Amortization expenses     3.1       2.2  
    Acquisition and integration expenses     8.1       0.2  
    Gain on sale of Global Pump Solutions business     (64.5 )      
    Other expenses(1)           0.1  
    Non-GAAP operating income   $ 8.6     $ 10.2  
    Non-GAAP operating margin     4.9 %     8.1 %
        Three months ended March 31,  
    (in millions, except share data)   2025     2024  
    Net income as reported in accordance with GAAP   $ 36.0     $ 1.5  
    Amortization and earnout expenses     3.1       2.2  
    Acquisition and integration expenses     8.1       0.2  
    Gain on sale of Global Pump Solutions business     (64.5 )      
    Restructuring expenses           0  
    Foreign currency remeasurement     0.6       0.9  
    Tax (benefit) expense of adjustments     20.2       (0.9 )
    Non-GAAP net income   $ 3.5     $ 4.0  
    Depreciation     2.0       1.3  
    Non-cash stock compensation     3.4       1.7  
    Other expense, net           0.6  
    Interest expense     6.2       3.4  
    Income tax expense     (1.6 )     1.6  
    Noncontrolling interest     0.5       0.6  
    Adjusted EBITDA   $ 14.0     $ 13.2  
                 
    Earnings per share:            
    Basic   $ 1.03     $ 0.04  
    Diluted   $ 0.98     $ 0.04  
                 
    Non-GAAP net (loss) income per share:            
    Basic   $ 0.10     $ 0.11  
    Diluted   $ 0.10     $ 0.11  
      Three months ended March 31,  
    (in millions) 2025     2024  
    Net cash provided by operating activities $ (11.7 )   $ 1.2  
    Acquisitions of property and equipment   (3.4 )     (3.1 )
    Free cash flow $ (15.1 )   $ (1.9 )
     

    NOTE REGARDING NON-GAAP FINANCIAL MEASURES

    CECO is providing certain non-GAAP historical financial measures as presented above as we believe that these figures are helpful in allowing individuals to better assess the ongoing nature of CECO’s core operations. A “non-GAAP financial measure” is a numerical measure of a company’s historical financial performance that excludes amounts that are included in the most directly comparable measure calculated and presented in accordance with GAAP.

    Non-GAAP operating income, non-GAAP net income, non-GAAP operating margin, non-GAAP earnings per basic and diluted share, adjusted EBITDA and free cash flow, as we present them in the financial data included in this press release, have been adjusted to exclude the effects of amortization expenses for acquisition-related intangible assets, contingent retention and earnout expenses, restructuring expenses primarily relating to severance and legal expenses, acquisition and integration expenses which include retention, legal, accounting, banking, and other expenses, foreign currency remeasurement and other nonrecurring or infrequent items and the associated tax benefit of these items. Management believes that these items are not necessarily indicative of the Company’s ongoing operations and their exclusion provides individuals with additional information to better compare the Company’s results over multiple periods. Management utilizes this information to evaluate its ongoing financial performance. Our financial statements may continue to be affected by items similar to those excluded in the non-GAAP adjustments described above, and exclusion of these items from our non-GAAP financial measures should not be construed as an inference that all such costs are unusual or infrequent.

    Non-GAAP operating income, non-GAAP net income, non-GAAP operating margin, non-GAAP earnings per basic and diluted share, adjusted EBITDA and free cash flow are not calculated in accordance with GAAP, and should be considered supplemental to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Non-GAAP financial measures have limitations in that they do not reflect all of the costs associated with the operations of our business as determined in accordance with GAAP. As a result, you should not consider these measures in isolation or as a substitute for analysis of CECO’s results as reported under GAAP. Additionally, CECO cautions investors that non-GAAP financial measures used by the Company may not be comparable to similarly titled measures of other companies.

    In accordance with the requirements of Regulation G issued by the Securities and Exchange Commission, non-GAAP operating income, non-GAAP net income, non-GAAP operating margin, non-GAAP earnings per basic and diluted share, adjusted EBITDA and free cash flow stated in the tables above are reconciled to the most directly comparable GAAP financial measures.

    Non-GAAP measures presented on a forward-looking basis were not reconciled to the comparable GAAP financial measures because the reconciliation could not be performed without unreasonable efforts. The GAAP measures are not accessible on a forward-looking basis because we are currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact GAAP measures for these periods but would not impact the non-GAAP measures. Such items may include amortization expenses for acquisition-related intangible assets, contingent retention and earnout expenses, restructuring expenses primarily relating to severance and legal expenses, acquisition and integration expenses which include retention, legal, accounting, banking, and other expenses, foreign currency remeasurement and other nonrecurring or infrequent items and the associated tax benefit of these items. The unavailable information could have a significant impact on our GAAP financial results.

    SAFE HARBOR

    Any statements contained in this Press Release, other than statements of historical fact, including statements about management’s beliefs and expectations, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended, and should be evaluated as such. These statements are made on the basis of management’s views and assumptions regarding future events and business performance. We use words such as “believe,” “expect,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “will,” “plan,” “should” and similar expressions to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Potential risks and uncertainties, among others, that could cause actual results to differ materially are discussed under “Part I – Item 1A. Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and may be included in subsequently filed Quarterly Reports on Form 10-Q, and include, but are not limited to: the effect of the divestiture of our Fluid Handling business on business relationships, operating results, and business generally, disruption of current plans and operations and potential difficulties in employee retention as a result of the transaction, diversion of management’s attention from ongoing business operations in connection with the integration of recent acquisitions, the amount of the costs, fees, expenses and other charges related to the transaction, the achievement of the anticipated benefits of transactions, our ability to successfully integrate acquired businesses and realize the synergies from acquisitions, as well as a number of factors related to our business, including the sensitivity of our business to economic and financial market conditions generally and economic conditions in CECO’s service areas; the potential for fluctuations in prices for manufactured components and raw materials, including as a result of tariffs and surcharges, and rising energy costs; inflationary pressures relating to rising raw material costs and the cost of labor; dependence on fixed price contracts and the risks associated therewith, including actual costs exceeding estimates and method of accounting for revenue; the effect of growth on our infrastructure, resources, and existing sales; the ability to expand operations in both new and existing markets; the potential for contract delay or cancellation as a result of on-going or worsening supply chain challenges or other customer considerations; liabilities arising from faulty services or products that could result in significant professional or product liability, warranty, or other claims; changes in or developments with respect to any litigation or investigation; failure to meet timely completion or performance standards that could result in higher cost and reduced profits or, in some cases, losses on projects; the substantial amount of debt incurred in connection with our strategic transactions and our ability to repay or refinance it or incur additional debt in the future; the impact of federal, state or local government regulations; our ability to repurchase shares of our common stock and the amounts and timing of repurchases; our ability to successfully realize the expected benefits of our restructuring program; economic and political conditions generally; our ability to optimize our business portfolio by identifying acquisition targets, executing upon any strategic acquisitions or divestitures, integrating acquired businesses and realizing the synergies from strategic transactions; and the unpredictability and severity of catastrophic events, including cyber security threats, acts of terrorism or outbreak of war or hostilities or public health crises, as well as management’s response to any of the aforementioned factors. Many of these risks are beyond management’s ability to control or predict. Should one or more of these risks or uncertainties materialize, or should the assumptions prove incorrect, actual results may vary in material aspects from those currently anticipated. Investors are cautioned not to place undue reliance on such forward-looking statements as they speak only to our views as of the date the statement is made. Except as required under the federal securities laws or the rules and regulations of the Securities and Exchange Commission, we undertake no obligation to update or review any forward-looking statements, whether as a result of new information, future events or otherwise.

    The MIL Network

  • MIL-OSI: OTC Markets Group Welcomes BW Energy Limited to OTCQX

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, April 29, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced BW Energy Limited (Oslo Bors: BWE; OTCQX: BWERY, BWEFF), a growth-focused oil and gas company, has qualified to trade on the OTCQX® Best Market. BW Energy Limited upgraded to OTCQX from the Pink® market.

    BW Energy Limited begins trading today on OTCQX under the symbols “BWERY” and “BWEFF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

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

    “The OTCQX Market provides a platform for increased recognition and engagement with a wider base of US investors. BW Energy is a fast-growing oil and gas company with production and attractive development assets in Gabon, Namibia and Brazil. We expect cross-trading on OTCQX to create additional long-term value through a broader US investor base and increased trading volumes in our shares,” says Carl K. Arnet, the CEO of BW Energy.

    About BW Energy Limited
    BW Energy is a growth E&P company with a differentiated strategy targeting proven offshore oil and gas reservoirs through low risk phased developments. The Company has access to existing production facilities to reduce time to first oil and cashflow with lower investments than traditional offshore developments. The Company’s assets are 73.5% of the producing Dussafu Marine licence offshore Gabon, 100% interest in the Golfinho and Camarupim fields, a 76.5% interest in the BM-ES-23 block, a 95% interest in the Maromba field in Brazil, a 95% interest in the Kudu field in Namibia, all operated by BW Energy. In addition, BW Energy holds approximately 6.6% of the common shares in Reconnaissance Energy Africa Ltd. and a 20% non-operating interest in the onshore Petroleum Exploration License 73 (“PEL 73”) in Namibia. Total net 2P+2C reserves and resources were 599 million barrels of oil equivalent at the start of 2025.

    About OTC Markets Group Inc.

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

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

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

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

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

    The MIL Network