Category: Commerce

MIL-OSI USA: Duckworth, Schiff Demand Answers From NASA, FAA Over Conflict of Interest in Federal Contract Awards to Musk’s Private Companies
US Senate News:
Source: United States Senator for Illinois Tammy Duckworth

February 28, 2025

[WASHINGTON, D.C.] – Today, U.S. Senator Tammy Duckworth (D-IL)—a member of the U.S. Senate Committee on Commerce, Science and Transportation (CST) and Ranking Member of the CST Subcommittee on Aviation, Space and Innovation—and U.S. Senator Adam Schiff (D-CA) demanded answers from National Aeronautics and Space Administration (NASA) Acting Administrator Janet Petro and the Federal Aviation Administration (FAA) Acting Administrator Chris Rocheleau on why, despite Elon Musk’s conflicts of interest, each agency has or may soon award billions of dollars in federal contracts to private companies controlled by Musk while he serves as a government employee.

“If accurate, this presents a striking new phase in Mr. Musk’s conflicts of interest. Mr. Musk holds unprecedented leverage over you and your agencies by directing ongoing efforts to substantially influence, alter, and undercut your departments’ operations, personnel, and funding. Simultaneously awarding his private companies with billions of dollars in federal contracts raises grave questions as to whether you and your agencies are enabling corrupt favoritism to benefit Mr. Musk,” wrote the Senators.

Full text of the letter is available on Senator Duckworth’s website and below:

Dear Ms. Petro and Mr. Rocheleau:

We write with serious concerns regarding recent reports that the federal agencies you lead – the National Aeronautics and Space Administration (NASA) and Federal Aviation Administration (FAA), respectively – have awarded or may soon award billions of dollars in federal contracts to private companies controlled by Elon Musk, a Special Government Employee. If accurate, this presents a striking new phase in Mr. Musk’s conflicts of interest. Mr. Musk holds unprecedented leverage over you and your agencies by directing ongoing efforts to substantially influence, alter, and undercut your departments’ operations, personnel, and funding. Simultaneously awarding his private companies with billions of dollars in federal contracts raises grave questions as to whether you and your agencies are enabling corrupt favoritism to benefit Mr. Musk.

On February 21, 2025, NASA announced that it selected Mr. Musk’s company, SpaceX, to provide launch services for the Near-Earth Object Surveyor mission, which is intended to detect and observe asteroids and comets that could potentially pose an impact threat to Earth. According to NASA, the total cost of the launch service on a SpaceX Falcon 9 rocket is approximately $100 million.

Three days later, on February 24, 2025, the FAA announced via Mr. Musk’s platform, X, that the agency “has been considering the use of Starlink,” a subsidiary of Mr. Musk’s company, SpaceX, to increase reliable weather information for the aviation community. The same day, Mr. Musk posted on X: “The Verizon system is not working and so is putting air travelers at serious risk.” In an effort to take over a $2.4 billion federal contract with the FAA held by Verizon, Mr. Musk has reportedly approved a shipment of 4,000 Starlink terminals to the FAA to upgrade critical infrastructure. FAA officials confirmed that several Starlink terminals had been installed in New Jersey and Alaska6 and the agency is reportedly “close to canceling” Verizon’s contract and awarding the work to Mr. Musk’s company in a significant dismantling of conflict of interest protections in government contracts. Furthermore, several employees of Mr. Musk’s parent company of Starlink, SpaceX, have joined the FAA – an agency tasked with regulating SpaceX activities and one of several federal Departments that have conducted investigations and reviews of Mr. Musk’s company for violating safety rules.

We strongly support the need to upgrade federal technological systems through public-private partnerships and contracts, but this cannot be done through corruption and graft. Mr. Musk – a man worth over $350 billion – carries significant influence over President Trump and federal government agencies, even as he faces regulatory reviews and federal investigations across almost a dozen federal departments and independent agencies, including the Department of Transportation, of which FAA is a part. Mr. Musk’s profound conflicts of interest risk fundamentally undermining public trust in your agencies at a moment in which trust in the missions of NASA and the FAA have never been more important.

On February 10, 2024, Senator Schiff sent letters to former Director of the Office of Government Ethics (OGE), David Huitema, and White House Chief of Staff Susan Wiles requesting clarification regarding Mr. Musk’s compliance with federal conflicts of interest, ethics, and reporting requirements. Following President Trump’s announcement firing Mr. Huitema without cause and designating Secretary of Veterans Affairs Doug Collins as acting OGE Director, Senator Schiff sent a follow-up letter requesting that the OGE preserve all records and correspondence regarding Mr. Huitema’s removal and inquiring, yet again, about Mr. Musk’s financial reporting obligations and any conflict of interest considerations communicated with the OGE on behalf of the White House.

To ensure that the Senate can undertake its constitutional oversight and legislative functions, including consideration of potential reforms to strengthen existing statutes, please take the following measures and respond to the questions below by March 7, 2025:
1. Preserve all records and correspondence since January 20, 2025, in NASA and the FAA’s possession regarding federal contract awards.
2. Preserve all records and correspondence in NASA and the FAA’s possession regarding any companies in which Mr. Musk retains a financial interest.
3. Provide the status of any reviews or investigations underway or closed since January 20, 2025, involving companies in which Mr. Musk retains a financial interest, including an investigation by the FAA of SpaceX’s Starship rocket following a failed test flight14 and the FAA’s review of alleged safety measure violations related to SpaceX launches.15
4. Did any White House officials communicate with any NASA or FAA officials about Mr. Musk’s conflict of interest considerations, including whether Mr. Musk would need a waiver under 18 U.S.C. § 208, prior to Mr. Musk’s appointment as a special government employee? If so, please explain the nature of those communications.
5. Did any NASA or FAA employees raise concerns about awarding federal contracts to Mr. Musk’s companies, given his role as a Special Government Employee? If so, please explain the nature of those concerns and communications and preserve all records and correspondence in your possession regarding these concerns.
Congress has yet to receive responses from the White House or the OGE regarding Mr. Musk’s compliance with federal criminal conflicts of interest law and other ethics and reporting requirements, which reinforces concern that Mr. Musk may not be complying with his legal obligations.

We look forward to reviewing your responses.

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MIL OSI USA News –
March 4, 2025
MIL-OSI United Kingdom: Government to turbocharge defence innovation
Source: United Kingdom – Executive Government & Departments

Press release

Government to turbocharge defence innovation

New defence innovation body to deliver cutting-edge military tech to British troops and create highly skilled jobs across the UK.
Chancellor and Defence Secretary and Business Secretary host joint roundtable with leaders from 15 of the country’s top defence firms

Government to launch new defence innovation organisation to quickly deliver cutting-edge military tech to British troops and create highly skilled jobs across the UK

Follows PM’s announcement to deliver largest sustained increase in defence spending since the Cold War

A new defence innovation body to harness UK ingenuity and boost military technology is set to be launched, as part of a drive to turbocharge innovation in defence and deliver growth as part of the Plan for Change.

The Chancellor, Defence Secretary and Business Secretary have today (28 February) confirmed that a new UK defence innovation organisation will work with innovative firms to rapidly get cutting-edge military technology into the hands of British troops, and harness the ingenuity of the UK’s leading tech and manufacturing sectors.

This new unit – which will be launched at the Spring Statement – is a clear demonstration of how the Government is moving at pace to drive reform in defence and use defence as an engine of economic growth.

The Chancellor, Defence Secretary and Business Secretary today met leaders from 15 British defence firms of all sizes at RAF Waddington in Lincolnshire – one of the RAF’s busiest stations with airborne intelligence aircraft and systems – to discuss the how the new unit will operate.

Developed as part of Defence Reform – the biggest overhaul of defence for more than 50 years – the new body is set to simplify and streamline the innovation system within MOD. It will take a new approach by moving quickly and decisively, using different ways of contracting, to enable UK companies to scale up innovative prototypes rapidly by setting out a clear pathway, working with the Government, from initial production to manufacturing at scale.

As part of a defence innovation drive, the government will also look to enhance investment in defence start-ups and scale-up technology and capability, including through the National Security Strategic Investment Fund. Ministers will work with the venture capital and investment community, as well as industry, to leverage private investment in the technology of the future.

The meeting comes after the Prime Minister outlined the Government’s commitment to increase spending on defence to 2.5% of GDP from April 2027 and the Chancellor’s message to European allies at the G20 in South Africa to jointly go further and faster on defence.

The new innovation unit will help equip Britain’s Armed Forces with cutting-edge tech and grow high-tech British businesses in the defence tech ecosystem. It will take the lessons from the rapidly changing nature of warfare, as seen in the conflict in Ukraine.

Increased defence spending will support highly skilled jobs and apprenticeships across the whole of the UK. Last year, defence spending supported over 430,000 jobs across the UK, the equivalent to one in every 60, and 68% of defence spending goes outside of London and the Southeast, benefitting every nation and region of the country.

Backing the defence industry will protect UK citizens from threats at home but will also create a secure and stable environment in which businesses can thrive, supporting the Government’s number one mission to deliver economic growth.

Chancellor of the Exchequer, Rachel Reeves said:

The world is less certain than it has been for a generation. History tells us that government and industry must rise to meet these moments together. We need to invest in sophisticated, innovative kit and get it into the hands of our fighting men and women.

In the world we face, national security and economic growth are going to go hand in hand. High-skilled, well-paid jobs across the UK will both make our country safer and put pounds in people’s pockets.

Defence Secretary, John Healey said:

The world is changing, and we are changing defence. We will back the high-growth, high-tech UK defence firms of the future, to boost our national security and make defence an engine for growth.

We will make the UK a defence innovation leader, funding and supporting firms of all sizes to take state-of-the-art technology from the drawing board to the production line, and into the hands of our Armed Forces.

Defence has a crucial role to play in economic growth across the UK – built on the foundation of the largest sustained funding increase since the Cold War – to support thousands of highly skilled jobs.

Business and Trade Secretary, Jonathan Reynolds said:

A strong, robust defence sector is vital for a Britain that’s both secure at home and strong abroad, and ensures a world where business can benefit from the economic security it brings.

Nearly half a million UK graduates get good, well-paid jobs thanks to our aerospace, defence, security and space sectors. These are areas where the UK excels on the global stage, and where our innovation can add billions to the economy.

That’s why our Plan for Change puts defence at the heart of our Industrial Strategy, helping us drive economic growth while bolstering our national security for the long term.

Science and Tech Secretary, Peter Kyle said:

Britain’s science and research expertise has always played a role in keeping us safe, and still does: from inventions like radar and codebreaking machines in the 20th century, through to innovations around drone technology and cybersecurity, today.

We are dedicated to making sure the UK tech sector has everything it needs to continue to thrive, and to keep playing a critical role in our national security.

As set out in the Plan for Change, national security is the first duty of the government, and investment in defence will protect UK citizens from threats at home while also creating a secure and stable environment for economic growth.

Economic growth is central to the Government’s Plan for Change to put more money into the pockets of working people and will be a core objective of the defence innovation organisation.

The joint meeting with defence industry organisations comes on the final day of the consultation for the Defence Industrial Strategy, which will ensure a strong defence sector and resilient supply chains across the whole of the UK.

Industry leaders’ quotes:

Andy Fraser, Saab UK Group Managing Director said:

Saab UK welcomes the announcement that the UK Government will increase defence spending to 2.5% by 2027, with a route to 3% in the next Parliament.

We live in a challenging world which requires industry and government in the UK to work together more closely. In the UK, we know that the defence industry benefits growth, investment and offers fantastic careers – while also helping to ensure the UK’s resilience. Saab UK has recently opened new facilities in the UK because we know that together we can achieve our aim to keep people and society safe.

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Published 3 March 2025
MIL OSI United Kingdom –
March 4, 2025
MIL-OSI Canada: Financial and Consumer Affairs Authority Warns Investors About “Pig Butchering Scams” in Advertising Campaign
Source: Government of Canada regional news

Released on March 3, 2025

During March, which is Fraud Prevention Month, the Financial and Consumer Affairs Authority of Saskatchewan (FCAA) is releasing an informative advertising campaign for investors and consumers.

The campaign that spans province-wide informs investors and consumers about a type of investment fraud known as “pig butchering scams”.

In 2024, over $3.4 million was reported lost in Saskatchewan to these scams.

A “pig butchering” scam is a type of long-term investment fraud where scammers build trust with the victims over time, often through social media or messaging apps. They may try to befriend the victim, develop an online romance with them or pretend to be a legitimate investment advisor.

Eventually, the scammer will recommend putting money into an investment opportunity with the promise of high returns. They will show falsified gains on these investments to encourage the victim to invest more. Once the victim has invested a significant amount or asks for a withdrawal, the scammer disappears with the victim’s money. The scammers are often part of organized crime rings operating outside of Canada.

These types of scams are referred to as “pig butchering scams” because they are akin to fattening a pig before slaughter.

Red Flags to Watch Out For:
- Unsolicited messages from strangers.
- Unsolicited investment offers.
- Too-good-to-be-true returns.
- Pressure to act quickly.
- Requests for payments or personal information.
- Requests for large sums of money to unlock “earnings”.
- Requests to keep the investment secret.
- Requests to access your computer.
- Pressure you to borrow money in order to invest.
How to Protect Yourself:
- Be cautious when approached by strangers online.
- Always verify that the investment person or company offering the investment is registered in Saskatchewan. To check registration, visit The Canadian Securities Administrators’ National Registration Search at aretheyregistered.ca.
- Never send money to someone unless you have verified their identity.
- Know exactly what you are investing in and make sure you understand how the investment, product, or service works.
- Get a second opinion and seek professional advice about the investment.
- Do not allow unknown or unverified individuals to remotely access your computer.
If you think you have been targeted or are the victim of a pig butchering scam, contact the FCAA’s Securities Division at 306-787-5936.

-30-

For more information, contact:

MIL OSI Canada News –
March 4, 2025
MIL-OSI USA: Collins, King, Pingree Call on Trump Administration to Avoid Trade War with Canada

US Senate News:

Source: United States Senator for Maine Angus King
WASHINGTON, D.C. — Today, U.S. Senators Susan Collins and Angus King, co-chair of the Senate American-Canadian Economy and Security (ACES) Caucus, and U.S. Representative Chellie Pingree, are calling on the Trump Administration to avoid a catastrophic trade war with Canada that would have huge and immediate impacts on Maine’s people and economy. In a letter to Commerce Secretary Howard Lutnick and Ambassador Jamieson Greer, the U.S. Trade Representative, the Maine delegation request that the administration work collaboratively with Canada to address issues of shared concern and foster economic cooperation in order to avoid the potential for increased prices on groceries, gas and energy.
“For over 150 years, Canada has been a trusted friend and close ally of the United States. Our countries are deeply entwined and our economies are fully integrated. This is made all the more evident by the substantial volume of trade and investment between our nations. In 2023, the U.S. and Canada traded nearly $1 trillion in goods and services. Together, we share the largest bilateral trading relationship in the world, which supports 8 million U.S. jobs. Each day, nearly $2.6 billion worth of goods and services cross the U.S.-Canada border, including critical energy resources,” the Delegation wrote.
They continued in the letter, “Maine shares a special and interconnected relationship with Canada. According to the Maine International Trade Center, Maine and Canada exchanged over $6 billion in two-way trade last year. This trade propels manufacturing and production in the state, which in turn provides over 60,000 good-paying jobs – from the development of our high-quality products to their transportation. Further, Canada has supplied the oil that Maine people rely on to heat their homes on cold winter nights and the jet fuel and diesel that supports the Air National Guard Base in Bangor.”
“Given the deeply integrated nature of our economies, any tariffs on imports from Canada – and any retaliatory measures by Canada in response – may raise prices on gasoline, energy, groceries, and much more,” the Delegation concluded. “We acknowledge that targeted and strategic tariffs can be an important tool to address unfair trade practices. However, small businesses and families in Maine and across the country will be caught in the middle during a time when so many are struggling to put food on the table and keep the lights on. Ultimately, it is our hope that the Trump Administration is able to work collaboratively with Canada to address issues of shared concern and foster economic cooperation, rather than engage in a tit-for-tat trade war.”
The United States and Canada share the world’s longest international border, spanning 5,525 miles with 120 land ports-of-entry. The bilateral and international U.S.-Canada alliance is built upon shared interests in the areas of economic stability and trade, sustainability, energy and critical mineral supply chain, and national security. The two countries share a $1 trillion trade and investment relationship, supporting more than seven million jobs.
The full text of the letter can be found here and below.
+++
Dear Secretary Lutnick and Ambassador Greer:
Over the years, we have been privileged to gain a unique view of the important economic partnership that the United States has with Canada from my border state of Maine. As you consider the implementation of tariffs on imports from Canada, we want to share our view of how these tariffs will impact families and business in Maine and across the country.
For over 150 years, Canada has been a trusted friend and close ally of the United States. Our countries are deeply entwined and our economies are fully integrated. This is made all the more evident by the substantial volume of trade and investment between our nations. In 2023, the U.S. and Canada traded nearly $1 trillion in goods and services. Together, we share the largest bilateral trading relationship in the world, which supports 8 million U.S. jobs. Each day, nearly $2.6 billion worth of goods and services cross the U.S.-Canada border, including critical energy resources.
Maine shares a special and interconnected relationship with Canada. According to the Maine International Trade Center, Maine and Canada exchanged over $6 billion in two-way trade last year. This trade propels manufacturing and production in the state, which in turn provides over 60,000 good-paying jobs – from the development of our high-quality products to their transportation. Further, Canada has supplied the oil that Maine people rely on to heat their homes on cold winter nights and the jet fuel and diesel that supports the Air National Guard Base in Bangor.
Given the deeply integrated nature of our economies, any tariffs on imports from Canada – and any retaliatory measures by Canada in response – may raise prices on gasoline, energy, groceries, and much more. We acknowledge that targeted and strategic tariffs can be an important tool to address unfair trade practices. However, small businesses and families in Maine and across the country will be caught in the middle during a time when so many are struggling to put food on the table and keep the lights on. Ultimately, it is our hope that the Trump Administration is able to work collaboratively with Canada to address issues of shared concern and foster economic cooperation, rather than engage in a tit-for-tat trade war.
Thank you for your attention to this matter. We stand willing and ready to work with you to ensure that the relationship between our countries continues to be mutually beneficial.
Sincerely,

MIL OSI USA News –

March 4, 2025
MIL-OSI USA: SBA Offers Relief to West Virginia Businesses, Nonprofits and Residents Affected by February Storms

Source: United States Small Business Administration

WASHINGTON – In response to a Presidential disaster declaration issued Feb. 26, 2025, the U.S. Small Business Administration (SBA) announced the availability of low interest federal disaster loans for West Virginia businesses, nonprofits, and residents affected by the severe storm, straight-line winds, flooding, landslides and mudslides occurring Feb. 15.

The disaster declaration covers the primary counties of McDowell, Mercer, Mingo and Wyoming, which are eligible for both Physical damage loans and Economic Injury Disaster Loans (EIDLs) from the SBA. Small businesses and most private nonprofit (PNP) organizations in the following adjacent counties are eligible to apply only for SBA EIDLs: Boone, Lincoln, Logan, Monroe, Raleigh, Summers and Wayne, as well as Martin and Pike in Kentucky, and Bland, Buchanan, Giles and Tazwell in Virginia.

Businesses and nonprofits are eligible to apply for business physical disaster loans and may borrow up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory, and other business assets.

Homeowners and renters are eligible to apply for home and personal property loans and may borrow up to $100,000 to replace or repair personal property, such as clothing, furniture, cars, and appliances. Homeowners may apply for up to $500,000 to replace or repair their primary residence.

Applicants may also be eligible for a loan increase of up to 20% of their physical damages, as verified by the SBA, for mitigation purposes. Eligible mitigation improvements include strengthening structures to protect against high wind damage, upgrading to wind rated garage doors, and installing a safe room or storm shelter to help protect property and occupants from future damage.

“One distinct advantage of SBA’s disaster loan program is the opportunity to fund upgrades reducing the risk of future storm damage,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “I encourage businesses and homeowners to work with contractors and mitigation professionals to improve their storm readiness while taking advantage of SBA’s mitigation loans.”

SBA’s EIDL program is available to eligible small businesses, small agricultural cooperatives, nurseries, and PNPs that suffered financial losses directly related to this disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for aquaculture enterprises.

EIDLs are for working capital needs caused by the disaster and are available even if the business did not suffer any physical damage. They may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

Interest rates are as low as 4% for small businesses, 3.625% for PNPs, and 2.563% for homeowners and renters, with terms up to 30 years. Interest does not begin to accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms, based on each applicant’s financial condition.

Beginning Monday, March 3, SBA customer service representatives will be on hand at the Business Recovery Center in Mercer County to answer questions about SBA’s disaster loan program, explain the application process and help individuals complete their application. Walk-ins are accepted, but you can schedule an in-person appointment in advance at appointment.sba.gov. The BRC hours of operation is listed below:

Business Recovery Center (BRC)
Mercer County

Princeton Public Library

920 Mercer Street

Princeton, WV 24740

Opening: Monday – March 3, 11 a.m. to 7 p.m.

Hours: Monday – Thursday, 10 a.m. to 7 p.m.

Friday, 10 a.m. to 5 p.m.

Saturday, 10 a.m. to 2 p.m.

Closed: Sunday

Disaster survivors should not wait to settle with their insurance company before applying for a disaster loan. If a survivor does not know how much of their loss will be covered by insurance or other sources, SBA can make a low-interest disaster loan for the total loss up to its loan limits, provided the borrower agrees to use insurance proceeds to reduce or repay the loan.

With the changes to FEMA’s Sequence of Delivery, survivors are now encouraged to simultaneously apply for FEMA grants and the SBA low-interest disaster loan assistance to fully recover. FEMA grants are intended to cover necessary expenses and serious needs not paid by insurance or other sources. The SBA disaster loan program is designed for your long-term recovery, to make you whole and get you back to your pre-disaster condition.

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

The filing deadline to return applications for physical property damage is April 28, 2025. The deadline to return economic injury applications is Nov. 26, 2025.

###

About the U.S. Small Business Administration

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

MIL OSI USA News –

March 4, 2025
MIL-OSI Security: Former D.C. Public Official Sentenced to 15 Months for Bank Fraud

Source: Office of United States Attorneys

Defendant Stole $844,000 in Funds from Pandemic Paycheck Protection Program (PPP)

WASHINGTON – Wendy Nicole Villatoro, 40, formerly of Washington, D.C., was sentenced February 28, 2025 in U.S. District Court to 15 months in federal prison for submitting fraudulent applications seeking money from the Paycheck Protection Program (PPP) that netted her $844,000.

The sentence was announced by U.S. Attorney Edward R. Martin, Jr., Special Agent in Charge Charmeka Parker of the U.S. Department of Agriculture – Office of Inspector General (USDA OIG) Northeast Region, and Special Agent in Charge Amaleka McCall-Brathwaite of the U.S. Small Business Administration, Office of the Inspector General (SBA-OIG), Eastern Region.

Villatoro, a former D.C. Homeland Security Commissioner and current employee with the U.S. Department of Agriculture, pleaded guilty November 14, 2024, to bank fraud. In addition to the 15-month prison sentence, the Honorable Carl J. Nichols ordered Villatoro to serve two years of supervised release.

According to the government’s evidence, between March 31, 2020, and August 4, 2021, Villatoro submitted eight PPP loan applications with various financial institutions and 15 Economic Injury Disaster (EID) loans with the Small Business Administration (SBA), all of which contained materially false statements. In order to get money from PPP lenders or the SBA, Villatoro submitted loans on behalf of fake businesses and inflated the number of employees, the average monthly payroll, the gross yearly revenue, or the cost of goods sold. In doing so, she tried to steal between $2.6 million and $5.5 million. While most of Villatoro’s loan applications were denied, she successfully secured over $844,000 in PPP and EID funds. Villatoro used the funds to pay off her student loans, pay off the car loan on a BMW SUV, and buy luxury items.

As part of her plea agreement, Villatoro agreed to pay $844,415.24 in restitution to the U.S. Government and to forfeit items purchased with proceeds of the offense, including over 70 pieces of designer clothing and jewelry and a BMW SUV.

The CARES Act is a federal law enacted on March 29, 2020, designed to provide emergency financial assistance to the millions of Americans suffering the economic effects caused by the COVID-19 pandemic. One source of relief provided by the CARES Act was the authorization of up to $349 billion in forgivable loans to small businesses for job retention and certain other expenses, through the PPP. In April 2020, Congress authorized over $300 billion in additional PPP funding.

The PPP allowed qualifying small-businesses and other organizations to receive loans with a maturity of two years and an interest rate of 1 percent. PPP loan proceeds were required to be used by businesses on payroll costs, interest on mortgages, rent, and utilities. The PPP allowed the interest and principal on the PPP loan to be forgiven if the business spent the loan proceeds on these expense items within a designated period of time after receiving the proceeds and used at least a certain percentage of the PPP loan proceeds on payroll expenses.

The EIDL program was designed to provide economic relief to small businesses that were experiencing a temporary loss of revenue. EIDL proceeds were intended for a wide array of working capital and normal operating expenses, such as continuation of health care benefits, rent, utilities and fixed debt payments. If an applicant also obtained a loan under the PPP, the EIDL funds were not to be used for the same purpose as the PPP funds.

The case was investigated jointly by U.S. Attorney’s Office for the District of Columbia, USDA-OIG, and SBA-OIG. Valuable assistance was provided by the FBI Washington Field Office Asset Forfeiture Unit.

This matter was prosecuted by Assistant U.S. Attorneys Jared English and Rick Blaylock, Jr. Valuable assistance was provided by former Assistant U.S. Attorneys Connor Mullin, Anna Forgie, and Paul V. Courtney.

Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud Hotline at 866-720-5721 or via the NCDF Web Complaint Form at https://www.justice.gov/disaster-fraud.

MIL Security OSI –

March 4, 2025
MIL-OSI: Samuel and Co Trading Leads the Way in Affordable Financial Education Amidst Rising University Costs

Source: GlobeNewswire (MIL-OSI)

LONDON, March 03, 2025 (GLOBE NEWSWIRE) — As the financial burden of higher education is continuing to escalate, Samuel and Co Trading stands out as an accessible and high-quality hub of financial education. Founded in 2012, Samuel and Co have been empowering students with the skills and confidence to navigate the financial markets.

Recent analyses have highlighted the growing financial strain on university students in the UK. Tuition fees have risen to £9,535 per annum as of September 2025, marking the first increase in eight years. This surge, coupled with maintenance loans that often fall short of covering living expenses, has amplified the financial challenges of being a student. The average annual cost of studying in the UK now exceeds £22,000, encompassing tuition and living expenses.

In contrast, Samuel and Co Trading offers Ofqual-regulated Diplomas in Financial Trading that provide a cost-effective alternative to a traditional degree. Students can achieve a Level 5 Diploma, equivalent level to a Foundation Degree, in as little as 12 weeks or pursue a Level 7 Diploma, equivalent level to a Master’s Degree, but at a fraction of the cost. Considering that some graduate salaries have sunk as low as the minimum wage, these accelerated programmes not only save time but also significantly reduce financial outlay, making industry-recognised credentials more attainable.

The company’s commitment to excellence has been recognised in the 2025 Global Banking and Finance Awards®, when Samuel and Co Trading was awarded with two impressive accolades: “Best Online Financial Education & Training UK 2025” and “Best Forex Education UK 2025”. Alongside this, the company has also been awarded the “Best Online Trading Course Provider UK 2025” by Finance Derivative Magazine and won the “Best Trading Guidance and Support Provider Europe 2025”,“Leading Trading Education Management Company Europe 2025” and the “Most Trusted Personal Trading Strategies Provider Europe 2025” by World Business Outlook. And lastly Brands Review Magazine also presented them with the “Innovation in Trading Strategies UK 2025” and the “Trading Education and Mentorship Award UK 2025”. These awards show the dedication to delivering high-quality financial education and training.

Founder and CEO, Samuel Leach, reflects on the company’s journey:

“When I started Samuel and Co Trading in 2012, I wanted to democratise financial education. The aim was to provide practical, affordable, and high-quality training to people who are passionate about trading. Our recent accolades and the success of our students show that we’re on the right path.”

Due to the unpredictable nature of the finance industry and the rising costs of higher education, Samuel and Co Trading, mission remains to offer competitive, comprehensive, and accessible education. By bridging the gap between affordability and quality, the company is shaping the future of financial training.

About Samuel and Co Trading

Samuel and Co Trading was founded in 2012 by Samuel Leach with the mission of assisting individuals to succeed in financial trading. The company provides accredited and industry-recognised financial education, including Ofqual-regulated diplomas designed to fast-track students into trading careers. With courses led by seasoned professionals, Samuel and Co Trading ensures that students gain practical, real-world experience. Recognised as a leader in the sector, the company has trained thousands of individuals.

The MIL Network –

March 4, 2025
MIL-OSI USA: Hickenlooper, Bennet, Neguse Demand Investigation Into NOAA Layoffs, Raise Alarm About Impact on Colorado

US Senate News:

Source: United States Senator for Colorado John Hickenlooper
Laid off NOAA employees provided critical services like relaying emergency alerts in wildfires and supporting farmers’ drought mitigation efforts
WASHINGTON – Today, U.S. Senators John Hickenlooper and Michael Bennet and Representative Joe Neguse sent a letter to the Deputy Inspector General at the Department of Commerce demanding an independent investigation into the dismantling of the National Oceanic and Atmospheric Administration (NOAA).
“The work our scientists and civil servants do at NOAA is essential to U.S. national security, as well as the personal safety and daily lives of Americans. Dismantling NOAA or compromising its capabilities would put Americans across the country at great risk,” wrote the Colorado lawmakers.
Their letter comes in response to recent reports that thousands of federal employees at the NOAA were laid off in the latest wave of mass firings by the Trump Administration.
The lawmakers continued: “NOAA’s National Integrated Drought Information System (NIDIS) provides essential information and resources to farmers and ranchers across the U.S. to help them better prepare for, mitigate, and respond to the effects of drought…”
NOAA, which oversees the National Weather Service (NWS), employs scientists and experts from across the state of Colorado to ensure accurate forecasting, issue severe weather alerts, and provide the community with emergency information relating to events such as wildfires.
NOAA also works with other federal agencies to bolster national security, improve air safety, equip American farmers with critical information on drought mitigation, and much more.
The full text of the letter is available HERE and below:
Dear Deputy Inspector General Anderson,
We write to implore you to investigate the ongoing efforts by the Department of Government Efficiency (DOGE) to dismantle the National Oceanic and Atmospheric Administration (NOAA). We’re also deeply concerned about recent reports of mass terminations at NOAA facilities in our home state of Colorado.
The work our scientists and civil servants do at NOAA is essential to U.S. national security, as well as the personal safety and daily lives of Americans. Dismantling NOAA or compromising its capabilities would put Americans across the country at great risk.
NOAA has a long standing and important partnership with the Department of Defense, which uses NOAA’s satellites to monitor atmospheric conditions and apply imagery from those satellites for military missions. These resources are critical to the effective coordination of military resources, and they contribute to sustained military readiness. NOAA’s Global Forecast System (GFS) and High-Resolution Rapid Refresh (HRRR) capabilities assist the Department of Defense in predicting battlefield weather conditions. NOAA works with the 557th Weather Wing to train military meteorologists in analyzing satellite data for operational use. NOAA’s Space Weather Prediction Center (SWPC) provides critical space weather data to DoD to protect military satellites, GPS, and communication networks from solar storms and geomagnetic disruptions. These are just a few of the critical functions NOAA serves in partnership with the Department of Defense that help keep Americans safe and our warfighters effective.
NOAA also collaborates closely with the Federal Aviation Administration (FAA), airports, and airlines to provide them with critical information on turbulence, low-level wind shear, and fog, which are factors that can complicate landing and takeoff. By providing timely data, NOAA ensures smoother and safer air travel for American citizens. In addition, during the recent Palisades and Eaton fires, the National Weather Service’s red flag warnings and fire weather forecasts assisted federal, state, and local officials in their efforts to save lives and property. This collaboration strengthens our national safety and security, demonstrating the importance of leveraging NOAA resources for the benefit of the American people.
Further, NOAA plays a critical role in protecting American technology, including GPS systems, from threats posed by solar flares and other space weather phenomena. Using cutting-edge data from satellites like NOAA’s GOES (Geostationary Operational Environmental Satellites), NASA’s Solar Dynamics Observatory (SDO), and the Deep Space Climate Observatory (DSCOVR), NOAA helps protect vital infrastructure that keeps our economy and military
strong. NOAA also works with other federal agencies to monitor and mitigate GPS signal interference by using advanced techniques to pinpoint and neutralize sources of disruption, ensuring the reliability and accuracy of these critical systems. This proactive approach is vital for maintaining the strength and security of America’s technological capabilities.
Moreover, NOAA’s National Integrated Drought Information System (NIDIS) provides essential information and resources to farmers and ranchers across the U.S. to help them better prepare for, mitigate, and respond to the effects of drought. NIDIS provides information on current drought conditions, forecasts, impacts, and risks to inform drought management and decision making. Upon direction from Congress, NIDIS is creating an early drought warning system for the nation. NOAA programs, like NIDIS, are essential to understanding and mitigating the risks to people, livelihoods, and communities that stem from complex environmental stresses, such as drought.
Many of NOAA’s programs are authorized and funded through Congressional appropriations. The President does not have the authority to impound or otherwise withhold funds that were lawfully authorized and appropriated by the Congress. Further, the President also does not have the authority to grant unvetted individuals’ access to vital government systems at NOAA, as some reports suggest. Such actions are not only irresponsible but
also unlawful and pose significant risks to national security and public trust.
It is also incredibly shortsighted for DOGE to make mass terminations at NOAA facilities, as reports suggest. The scientists at NOAA facilities in Colorado and across the country have dedicated their lives and their careers to public service and innovation, and we should celebrate their contributions rather than putting our country at a disadvantage by purging the agency. The value of NOAA and its programs are clear. Any attempt to unilaterally halt them would constitute egregious overreach of executive power, jeopardizing the safety and well-being of countless Americans. For this reason, we strongly urge you to investigate the claims that suggest DOGE is seeking to dismantle NOAA or disrupt its operations and critical research through unauthorized access to IT systems and attempts to significantly reduce staffing levels. The American people deserve answers about what President Trump and DOGE have done and plan to do with this crucial agency, which has demonstrated tremendous effectiveness at saving lives and property and serving critical economic and strategic national interests.

MIL OSI USA News –

March 4, 2025

MIL-OSI USA: Governor Lamont Proposes Eliminating Fees for Obtaining and Renewing Occupational Licenses

Source: US State of Connecticut

(HARTFORD, CT) – Governor Ned Lamont today announced that he is urging the Connecticut General Assembly to approve legislation he is proposing that eliminates the fees workers in certain professions are required to pay when initially applying for occupational licenses, as well as the fees associated with renewing them.

By eliminating these costs, the governor is hoping to remove a barrier and encourage jobseekers to pursue careers within in-demand fields in which employers have indicated a need to hire skilled workers. The fee elimination plan was included as part of the governor’s fiscal year 2026/2027 biennial budget proposal that he presented to the legislature last month.

“Workers in certain skilled professions are required to obtain licenses for understandable reasons, but we should be doing more to encourage jobseekers to enter these fields, and that is why I want to eliminate all of the costs associated with applying for and renewing these licenses,” Governor Lamont said. “Over the last several years, we’ve enacted more than $840 million in permanent tax cuts, most of which are specifically targeted at providing relief to middle-class taxpayers, and I am asking the legislature to continue on this path by eliminating these occupational license fees.”

Impacted professions under the governor’s proposal include nurses, dental hygienists, mental health professionals, occupational therapists, paramedics, physical therapists, physician assistants, electricians, HVAC workers, plumbers, sheet metal workers, and teachers.

Fees for these licenses range in cost from $50 to $375 per year, depending on the license. The proposal will benefit nearly 180,000 workers, saving them approximately $18.8 million in fiscal year 2026 and $25 million in fiscal year 2027.

These licenses are administered by the Connecticut Department of Consumer Protection, the Connecticut Department of Public Health, and the Connecticut State Department of Education. Under Governor Lamont’s proposal, workers in these professions will still be required to obtain and renew licenses, however there will be no costs associated with applying for them.

List of Occupational License Fees Governor Lamont Wants To Eliminate
Professional Category	Fee Range	Number of Payers
Nursing	$70-$200	99,452
Dental hygienist	$105-$150	3,715
Mental health clinician	$50-$320	19,655
Occupational therapist	$50-$200	2,814
Paramedic	$150	2,783
Physical therapist	$65-$285	6,771
Electrician	$90-$150	14,259
HVAC	$90-$150	11,311
Plumber	$90-$150	7,424
Sheet metal	$90-$150	1,549
Teaching	$100-$375	8,385
TOTAL		178,117
**Download: Detailed list of all impacted licenses within these categories

“For several years it has been my top priority to pass legislation to cut burdensome fees on Connecticut’s workers, including our great teachers, nurses, mental health professionals, electricians, plumbers, and hundreds of thousands of other licensed professionals,” State Senator Ryan Fazio (R-Greenwich) said. “I appreciate the governor’s leadership in making it a priority this year. Workers shouldn’t have to pay this tax just for the right to work in our state. Let’s come together to cut licensing fees on workers and send a signal that we want to make it easier to work, live, and succeed in Connecticut.”

Eliminating these fees builds on Governor Lamont’s track record of reducing taxes to make Connecticut more affordable for middle-class workers. Since taking office in 2019, Governor Lamont has enacted more than $840 million in permanent tax cuts. This includes $500 million in income tax cuts for middle-class filers that was enacted in 2023 and became the largest income tax cut made in Connecticut history; increases in the Earned Income Tax Credit that have essentially eliminated income taxes for low-income filers; the elimination of taxes on pensions and Social Security for most seniors; and the creation of a cap on motor vehicle property taxes.

The proposal is included in Senate Bill 1246, An Act Concerning Revenue Items To Implement the Governor’s Budget. It is currently under consideration in the Finance, Revenue and Bonding Committee.

MIL OSI USA News –

March 4, 2025

MIL-OSI Economics: Samsung and GRUBBRR Promise Results or Clients Don’t Pay With New Guarantee Initiative

Source: Samsung

Samsung and GRUBBRR, the leader in self-ordering technology, are proud to announce their latest initiative, the GRUBBRR Guarantee. With this bold move, GRUBBRR is demonstrating its commitment to driving results for clients by offering a guarantee on the return on investment (ROI) of its solutions and demonstrating why it’s a top choice in the digital ordering space. Samsung and GRUBBRR are confident in the power of their kiosk technology to deliver positive results that they’re willing to back it up with a guarantee: Sign up for GRUBBRR’s services before May 1, 2025, and the companies will GUARANTEE an ROI. During any month in which the Samsung Kiosk powered by GRUBBRR does not generate an ROI, customers’ Software-as-a-Service (SaaS) fee for that month will be waived.
How it works:
Sign-Up deadline: Register for GRUBBRR’s services by May 1, 2025, to qualify for the guarantee.
Guarantee activation: The GRUBBRR Guarantee takes effect after customers’ first three months of service.
Guaranteed ROI: If the Samsung Kiosk powered by GRUBBRR does not generate an ROI during any month, customers’ SaaS fee that month will be waived.
Client requirements: To ensure the success of this initiative, participating clients must share their Point-of-Sale (POS) data weekly and implement GRUBBRR’s proven playbook.

“At GRUBBRR, we believe in the transformative impact our technology can have on our clients’ businesses,” said Sam Zietz, CEO of GRUBBRR. “Our Guarantee spotlights our confidence in our software as well as our commitment to delivering real results for clients. Our technology is designed to optimize business operations, and our teams are dedicated to ensuring success. We have proven that we have what it takes to help businesses with smoother transactions while improving the speed of service and customer satisfaction.”
Driving confidence in restaurant technology
The GRUBBRR Guarantee highlights the company’s dedication to creating real value for its customers. Samsung self-ordering kiosks and GRUBBRR’s automation solutions are designed to streamline operations, reduce wait times, increase order accuracy and ultimately drive higher revenue for businesses in the restaurant industry.
By offering this guarantee, Samsung and GRUBBRR aim to eliminate the risk for businesses looking to adopt new technology while providing the tools they need to enhance operational efficiency and boost profitability.
While GRUBBRR’s solutions are compatible with a variety of hardware, the Samsung Kiosk stands out as a cutting-edge, all-in-one self-ordering solution. Featuring a 24-inch high-definition touch screen, QR code/barcode scanner, receipt printer and an EMV terminal cradle, the Samsung Kiosk offers a seamless integration of functionality and design, enhancing the customer experience while driving operational efficiency. This collaboration reflects both companies’ commitments to delivering premium solutions that exceed client expectations.

“At Samsung, we’re committed to pushing the boundaries of innovation to drive business success,” said Sara Grofcsik, Head of Sales, Display Division, Samsung Electronics America. “Our partnership with GRUBBRR and the launch of the GRUBBRR Guarantee are a testament to our shared vision of empowering businesses with solutions that improve customer experiences and deliver measurable results for our retail customers.”
Why the GRUBBRR Guarantee matters:
Risk-free investment: Businesses can adopt Samsung and GRUBBRR technology with confidence, knowing a guarantee backs them.
Proven strategy: GRUBBRR’s playbook and data-driven approach ensure clients are well-positioned for success.
Commitment to client success: Samsung and GRUBBRR focus on delivering measurable results that impact the bottom line.
To learn more about how the Samsung Kiosk is shaping the future of self-service, please visit https://www.samsung.com/us/business/displays/interactive/kiosk/.
To learn more about the GRUBBRR Guarantee, visit https://grubbrr.com/grubbrr-guarantee/.

MIL OSI Economics –

March 4, 2025
MIL-OSI Economics: Huawei’s Yang Chaobin: AI-Centric Network Solution Helps Carriers Seize AI Opportunities

Source: Huawei

Headline: Huawei’s Yang Chaobin: AI-Centric Network Solution Helps Carriers Seize AI Opportunities

[Barcelona, Spain, March 3, 2025] At the Huawei Product & Solution Launch during MWC Barcelona 2025, Yang Chaobin, Huawei’s Director of the Board and CEO of the ICT Business Group, launched the company’s AI-Centric Network solution.
According to Yang, the emergence of high-quality, low-cost, and open-source AI models will give rise to a wide range of new innovation in applications and accelerate the advent of an intelligent world.
Advancements in AI will transform society at three levels. It will enable a truly individualized experience for consumers, drive intelligent collaboration in organizations, and lay the groundwork for more inclusive intelligence for everyone.
Yang Chaobin, Huawei’s Director of the Board and CEO of the ICT Business Group, speaking at the Huawei Product & Solution Launch

As for the ICT industry, while evolving technology and a more diverse range of application scenarios will create unprecedented growth opportunities, they will also raise the bar for network infrastructure. To make the most of these opportunities, carriers need to make sweeping breakthroughs in network bandwidth, latency, coverage, and O&M.
“Huawei’s AI-Centric Network solution is designed to address these needs,” said Yang. “It revolutionizes network capabilities to enable all-domain connectivity. It will power a shift towards application-oriented O&M, and will reshape telecom service and business models to take full advantage of new opportunities presented by AI.”
AI-centric networks – A four-layered approach
Yang expanded on the challenges carriers face moving forward, explaining how Huawei’s solution can help them better prepare for a surge of new AI-powered applications.
All-domain connectivity. With more in-depth collaboration between AI and networks, carriers will be able to optimize resource orchestration for routing, bandwidth, and so on. This will provide intelligent applications with universal network access, ultra-high uplink and downlink, and SLA assurance.
Application-oriented O&M. Advances in AI applications will give rise to more complex service scenarios and massively diverse experience requirements. This will necessitate a shift from traditional, resource-oriented network O&M to a more application-oriented approach. Huawei’s Telecom Foundation Model supports predictive and proactive O&M, experience optimization based on application-level awareness, and tailored, more fine-grained operations. Carriers will be able to significantly enhance the efficiency of network O&M while taking user experience to entirely new levels.
Enhanced AI-to-X services. At the individual user level, AI-centric networks can deliver the right experience for different AI scenarios by assigning the exact levels of bandwidth, latency, and reliability needed. At the organizational level, they can break through bottlenecks in capacity and response times configured for person-to-person interactions, evolving networks to support person-to-agent and even agent-to-agent interactivity. And at the societal level, AI-centric networks will enable ubiquitous connectivity to speed up AI adoption in public services like education and healthcare, providing more inclusive value for communities around the world.
Innovative business models. Finally, different experience requirements will give carriers the opportunity to explore new business models that monetize a broader range of metrics. Essentially, AI-centric networks will allow carriers to go beyond traditional traffic-based monetization and start monetizing experience itself. This will unleash the full potential of connectivity and open up new revenue streams.
“We need to join hands and work together across the telecom industry,” Yang Chaobin concluded. “By exposing network capabilities, collaborating with different industries, and engaging in scenario-specific innovation, we can make the most of new growth opportunities in the age of AI, and bring the world one step closer to a brighter, more intelligent future.”
MWC Barcelona 2025 is held from March 3 to March 6 in Barcelona, Spain. During the event, Huawei will showcase its latest products and solutions at stand 1H50 in Fira Gran Via Hall 1.
In 2025, commercial 5G-Advanced deployment will accelerate, and AI will help carriers reshape business, infrastructure, and O&M. Huawei is actively working with carriers and partners around the world to accelerate the transition towards an intelligent world.
For more information, please visit: https://carrier.huawei.com/en/events/mwc2025

MIL OSI Economics –

March 4, 2025
MIL-OSI Global: Nigeria’s 2025 budget has major flaws and won’t ease economic burden

Source: The Conversation – Africa – By Stephen Onyeiwu, Professor of Economics & Business, Allegheny College

There are doubts as to whether Nigerian president Bola Tinubu’s N54.99 trillion (US$36.6 billion) 2025 budget will lay a solid foundation for addressing some of the country’s current economic challenges.

Economist Stephen Onyeiwu unpacks these challenges and sets out why the 2025 budget won’t change Nigeria’s economic landscape (though it has some silver linings).

What are Nigeria’s four biggest economic challenges?

Firstly, Nigeria’s economy has grown at a subdued average rate of about 3% for the past three years.

Though comparable to global economic growth, this rate of growth is insufficient to create jobs and alleviate poverty. The official unemployment rate is 4.3%.

Only 15% of those employed, however, are in the formal sector as wage earners. About 93% of Nigerians are engaged in informal sector activities. They’re doing low-income and vulnerable jobs, with no social protection.

Secondly, Nigerians are struggling with a high cost of living. Inflation has remained high for three years, as have interest rates.

The exchange rate has been elevated and volatile. The result has been rising food, fuel and housing costs.

Thirdly, the country has not been able to attract enough foreign investment to generate high-paying jobs in the formal sector. Foreign direct investment to Nigeria has been declining. It fell from US$8.6 billion in 2009 to US$1.8 billion in 2023.

Reasons for the decline are the high cost of doing business in Nigeria, insecurity, poor infrastructure and macroeconomic instability.

Fourthly, poverty rates are high. This is due to unemployment and the lack of safety nets. The poverty rate rose from 33.2% in 2020 to 47.2% in 2024. The number of poor people is expected to increase by 13 million in 2025, largely due to inflation.

Will the 2025 budget help?

There are a number of serious flaws in it which suggest it won’t.

Tinubu said the 2025 budget “was designed to ensure macro-economic stability, poverty reduction, promoting economic stability, developing human capital and addressing insecurity.”

But the allocation of funds does not reflect these priorities. The allocations to personnel and overheads far exceed allocations to capital expenditures – things that build the economy’s productive capacity.

A key challenge for Nigeria is how to shift resources from consumption to production. The 2025 budget reinforces the longstanding consumerist nature of the economy.

China spends about 45% of GDP on capital formation. This has spurred and sustained the country’s high growth rates for decades. Nigeria’s allocation to capital expenditure in the 2025 budget is about 19%.

In his budget speech the president said his administration’s goal was to

“get our manufacturing sector humming again and ultimately increase the competitiveness of our economy.”

But the federal ministries that should be driving this effort – industry and education – weren’t allocated enough for capital expenditure.

Nor did the budget prioritise things that would ease the economic burden of Nigerians.

A big chunk of the budget (about 35.4%) goes to servicing debt. Indeed, about 65% of the 2025 budget will finance debt repayment, personnel costs and overheads.

Another concern is that the government intends to borrow N9.22 trillion (US$6.2 billion) to finance the budget, higher than the N7.83 trillion (US$5.2 billion) borrowed in the previous year.

Borrowing to finance a budget increases the interest rate and makes private-sector borrowing costly. Businesses can’t access funds that would enable them to invest and boost economic growth, reduce inflation, create jobs and alleviate poverty.

Are there any silver linings?

There are some.

It is commendable that the Federal Ministry of Communications & the Digital Economy was allocated about N450 billion (US$300 million) for capital expenditure, compared to just N33 billion (US$22 million) for recurrent expenditure. The administration is signalling its commitment to building capacity in the IT sector. This is important because Nigeria needs to promote a knowledge-based economy that would diversify away from hydrocarbons.

Another encouraging aspect of the budget is that the ratio of budget deficit to GDP (3.89%) is lower than the average 5% prior to 2024. Although the administration will borrow to cover the deficit, it’s borrowing less than before relative to GDP. This signals an intention to be more financially prudent than previous administrations, assuming it won’t resort to supplementary budgets.

What needs to happen now?

The 2025 budget is anything but pro-poor. Most of its provisions benefit the elites, contractors and public employees.

Much will be used to pay politicians and their aides at the National Assembly and workers in the government ministries and agencies.

Money allocated to capital expenditure will be used to pay contractors for government projects.

Nigerians in the informal sector will not feel a direct impact. There should have been more proactive measures to address unemployment and poverty.

Sustainable development requires a strong rural economy. While the manufacturing and services sectors are critical for structural transformation and job creation, they can’t develop without a vibrant agricultural sector.

Strengthening the rural economy of Nigeria requires raising the productivity of farmers so that they can supply food to urban workers at affordable prices. This helps keep inflation and wage rates low.

Raising the productivity of rural people raises their incomes and alleviates poverty.

Higher rural incomes increase farmers’ purchasing power, leading to an increase in the demand for goods and services produced in the manufacturing sector. When rural people earn more, there’s less reason to migrate to urban areas.

Less migration implies less pressure on urban social services, the labour market and the informal sector.

More funds need to be allocated to sectors and activities that raise the productive capacity of the economy. This will involve reducing governance costs and using the savings to boost food production, agro-processing and manufacturing.

The key to stabilising the Nigerian economy is massive food production, which will reduce food inflation. Coupled with agro-processing, food production will boost exports, reduce food imports and strengthen the value of the naira.

A stronger naira will reduce inflation and interest rates.

In conclusion, the 2025 budget does not solve Nigeria’s endless cycle of deficits and debts. Neither does it lay the foundation for structural transformation, economic diversification, sustainable economic growth, employment generation and poverty alleviation.

It will leave the economic landscape unchanged.

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

– ref. Nigeria’s 2025 budget has major flaws and won’t ease economic burden – https://theconversation.com/nigerias-2025-budget-has-major-flaws-and-wont-ease-economic-burden-250713

MIL OSI – Global Reports –

March 4, 2025
MIL-OSI USA: SBA Relief Still Available to Oklahoma Small Businesses and Private Nonprofits Affected by Summer Rain and Flooding

Source: United States Small Business Administration

SACRAMENTO, Calif. – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP) organizations in Oklahoma of the April 3, 2025, deadline to apply for low interest federal disaster loans to offset economic losses caused by the June 18–21, 2024 heavy rain and flooding.

The disaster declaration covers the counties of Beaver, Cimarron and Texas in Oklahoma, as well as Morton, Seward and Stevens in Kansas, and Hansford, Ochiltree and Sherman in Texas.

Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses, small agricultural cooperatives, nurseries, and PNPs impacted by financial losses directly related to the disaster. The SBA is unable to provide disaster loans to agricultural producers, farmers, or ranchers, except for small aquaculture enterprises.

EIDLs are available for working capital needs caused by the disaster and are available even if the business did not suffer any physical damage. The loans may be used to pay fixed debts, payroll, accounts payable, and other bills not paid due to the disaster.

“SBA loans help eligible small businesses and private nonprofits cover operating expenses after a disaster, which is crucial for their recovery,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “These loans not only help business owners get back on their feet but also play a key role in sustaining local economies in the aftermath of a disaster.”

The loan amount can be up to $2 million with interest rates as low as 4% for small businesses and 3.25% for PNPs, with terms up to 30 years. Interest does not accrue, and payments are not due, until 12 months from the date of the first loan disbursement. The SBA sets loan amounts and terms based on each applicant’s financial condition.

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

Submit completed loan applications to the SBA no later than April 3, 2025.

###

About the U.S. Small Business Administration

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

MIL OSI USA News –

March 4, 2025
MIL-OSI Security: Business Partner Brothers Sentenced to Federal Prison for their Roles in $2.8M COVID Fraud Scheme

Source: Office of United States Attorneys

CHARLESTON, S.C. — Three brothers have been sentenced to federal prison after pleading guilty to wire fraud conspiracy and wire fraud. Two brothers, William Chan, 40, and Siu Chan, 32, both of Georgia, pleaded guilty to a wire fraud conspiracy. The third brother, Ka Ho Chan, 33, who also resides in Georgia, pleaded guilty to two counts of wire fraud. The brothers, along with other family members, operate a string of restaurants in the Charleston area.

Evidence obtained in the investigation revealed that beginning in March 2020, the Chan brothers applied for Paycheck Protect Program (PPP) and Emergency Injury Disaster Loans (EIDL) funds using false representations and fraudulent documentation.

The evidence presented for William and Siu Chan revealed that at least 22 PPP and EIDL loans were applied for and received totaling more than $2.5 million. The investigation further revealed that a handful of the loans applied for by William and Siu were legitimate applications but the funds we not used for legitimate business purposes once funded. For example, the Government uncovered evidence that the brothers used PPP and EIDL loan funds to make personal car purchases and pay personal credit card expenses.

Ka Ha Chan pleaded to a separate information charging him with wire fraud for an EIDL loan and grant he received. Moreover, in Ka Ha Chan’s plea agreement, he agreed to a restitution figure between $300,000 to $350,000 based on his receipt of fraudulent loan proceeds applied for by his brothers during their conspiracy. The evidence revealed that all the funds received by Ka Ho, though his own wire fraud scheme, and the funds he received from his brothers were not used for legitimate business purposes and were used for personal expenses, such as vehicle purchases and personal credit cards.

“These defendants exploited a program intended to help struggling businesses during a critical time. Their greed led them to defraud the government and taxpayers, diverting millions of dollars intended for legitimate economic relief,” said Acting U.S. Attorney Brook B. Andrews for the District of South Carolina. “This sentencing sends a clear message: those who attempt to profit from pandemic aid through fraud will be held accountable.”

“We will not tolerate those who exploit programs designed to support small businesses, and these defendants are now facing the consequences for their actions,” said Steve Jensen, Special Agent in Charge of the FBI Columbia field office. “The FBI remains committed to identifying, investigating, and holding accountable those who attempt undermine our financial institutions for personal gain.”

United States District Richard M. Gergel sentenced William Chan to 24 months imprisonment, to be followed by a three-year term of court-ordered supervision. Siu Chan was sentenced to 24 months imprisonment, to be followed by a three-year term of court-ordered supervision. Ka Ho Chan was sentenced to 12 months and one day imprisonment, to be followed by a three-year term of court-ordered supervision.

There is no parole in the federal system. The total amount of fraudulent loans and misuse of EIDL and PPP loan funds presented to the court during sentencing exceeded $2.8 million. In advance of sentencing, efforts had been made by the brothers to pay restitution. As a result, the outstanding restitution owed in the amount of $1,268,386.50 was ordered.

On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by, among other methods, augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the Department’s response to the pandemic, please visit https://www.justice.gov/coronavirus.

Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

This case was investigated by the FBI Columbia Field Office and Small Business Administration. Assistant U.S. Attorney Amy Bower is prosecuting the case.

###

MIL Security OSI –

March 4, 2025
MIL-OSI Africa: Nigeria’s 2025 budget has major flaws and won’t ease economic burden

Source: The Conversation – Africa – By Stephen Onyeiwu, Professor of Economics & Business, Allegheny College

There are doubts as to whether Nigerian president Bola Tinubu’s N54.99 trillion (US$36.6 billion) 2025 budget will lay a solid foundation for addressing some of the country’s current economic challenges.

Economist Stephen Onyeiwu unpacks these challenges and sets out why the 2025 budget won’t change Nigeria’s economic landscape (though it has some silver linings).

What are Nigeria’s four biggest economic challenges?

Firstly, Nigeria’s economy has grown at a subdued average rate of about 3% for the past three years.

Though comparable to global economic growth, this rate of growth is insufficient to create jobs and alleviate poverty. The official unemployment rate is 4.3%.

Only 15% of those employed, however, are in the formal sector as wage earners. About 93% of Nigerians are engaged in informal sector activities. They’re doing low-income and vulnerable jobs, with no social protection.

Secondly, Nigerians are struggling with a high cost of living. Inflation has remained high for three years, as have interest rates.

The exchange rate has been elevated and volatile. The result has been rising food, fuel and housing costs.

Thirdly, the country has not been able to attract enough foreign investment to generate high-paying jobs in the formal sector. Foreign direct investment to Nigeria has been declining. It fell from US$8.6 billion in 2009 to US$1.8 billion in 2023.

Reasons for the decline are the high cost of doing business in Nigeria, insecurity, poor infrastructure and macroeconomic instability.

Fourthly, poverty rates are high. This is due to unemployment and the lack of safety nets. The poverty rate rose from 33.2% in 2020 to 47.2% in 2024. The number of poor people is expected to increase by 13 million in 2025, largely due to inflation.

Will the 2025 budget help?

There are a number of serious flaws in it which suggest it won’t.

Tinubu said the 2025 budget “was designed to ensure macro-economic stability, poverty reduction, promoting economic stability, developing human capital and addressing insecurity.”

But the allocation of funds does not reflect these priorities. The allocations to personnel and overheads far exceed allocations to capital expenditures – things that build the economy’s productive capacity.

A key challenge for Nigeria is how to shift resources from consumption to production. The 2025 budget reinforces the longstanding consumerist nature of the economy.

China spends about 45% of GDP on capital formation. This has spurred and sustained the country’s high growth rates for decades. Nigeria’s allocation to capital expenditure in the 2025 budget is about 19%.

In his budget speech the president said his administration’s goal was to

“get our manufacturing sector humming again and ultimately increase the competitiveness of our economy.”

But the federal ministries that should be driving this effort – industry and education – weren’t allocated enough for capital expenditure.

Nor did the budget prioritise things that would ease the economic burden of Nigerians.

A big chunk of the budget (about 35.4%) goes to servicing debt. Indeed, about 65% of the 2025 budget will finance debt repayment, personnel costs and overheads.

Another concern is that the government intends to borrow N9.22 trillion (US$6.2 billion) to finance the budget, higher than the N7.83 trillion (US$5.2 billion) borrowed in the previous year.

Borrowing to finance a budget increases the interest rate and makes private-sector borrowing costly. Businesses can’t access funds that would enable them to invest and boost economic growth, reduce inflation, create jobs and alleviate poverty.

Are there any silver linings?

There are some.

It is commendable that the Federal Ministry of Communications & the Digital Economy was allocated about N450 billion (US$300 million) for capital expenditure, compared to just N33 billion (US$22 million) for recurrent expenditure. The administration is signalling its commitment to building capacity in the IT sector. This is important because Nigeria needs to promote a knowledge-based economy that would diversify away from hydrocarbons.

Another encouraging aspect of the budget is that the ratio of budget deficit to GDP (3.89%) is lower than the average 5% prior to 2024. Although the administration will borrow to cover the deficit, it’s borrowing less than before relative to GDP. This signals an intention to be more financially prudent than previous administrations, assuming it won’t resort to supplementary budgets.

What needs to happen now?

The 2025 budget is anything but pro-poor. Most of its provisions benefit the elites, contractors and public employees.

Much will be used to pay politicians and their aides at the National Assembly and workers in the government ministries and agencies.

Money allocated to capital expenditure will be used to pay contractors for government projects.

Nigerians in the informal sector will not feel a direct impact. There should have been more proactive measures to address unemployment and poverty.

Sustainable development requires a strong rural economy. While the manufacturing and services sectors are critical for structural transformation and job creation, they can’t develop without a vibrant agricultural sector.

Strengthening the rural economy of Nigeria requires raising the productivity of farmers so that they can supply food to urban workers at affordable prices. This helps keep inflation and wage rates low.

Raising the productivity of rural people raises their incomes and alleviates poverty.

Higher rural incomes increase farmers’ purchasing power, leading to an increase in the demand for goods and services produced in the manufacturing sector. When rural people earn more, there’s less reason to migrate to urban areas.

Less migration implies less pressure on urban social services, the labour market and the informal sector.

More funds need to be allocated to sectors and activities that raise the productive capacity of the economy. This will involve reducing governance costs and using the savings to boost food production, agro-processing and manufacturing.

The key to stabilising the Nigerian economy is massive food production, which will reduce food inflation. Coupled with agro-processing, food production will boost exports, reduce food imports and strengthen the value of the naira.

A stronger naira will reduce inflation and interest rates.

In conclusion, the 2025 budget does not solve Nigeria’s endless cycle of deficits and debts. Neither does it lay the foundation for structural transformation, economic diversification, sustainable economic growth, employment generation and poverty alleviation.

It will leave the economic landscape unchanged.

– Nigeria’s 2025 budget has major flaws and won’t ease economic burden
– https://theconversation.com/nigerias-2025-budget-has-major-flaws-and-wont-ease-economic-burden-250713

MIL OSI Africa –

March 4, 2025
MIL-OSI United Kingdom: Salford City Council confirm delegation for MIPIM 2025
Source: City of Salford
Salford City Council confirm a return to MIPIM this year.

MIPIM (in French, Le Marché International des Professionnels de L’immobilier) is held in Cannes, France and is internationally recognised as a key property and investment event.

Attendance at MIPIM provides a platform for the council to meet investors and showcase the development opportunities in Salford.

Salford City Council team will form part of Greater Manchester partnership in attendance

The Salford team confirmed for the conference as Jack Youd, Deputy City Mayor and Lead Member for Finance, Support Services and Regeneration, John Searle, Executive Director Place, Stephanie Mullenger, Interim Director Property and Housing, and Sarah Ashurst, Head of Partnerships and Investment.
Salford City Deputy Mayor Jack Youd heads up a team of senior officers from Salford City Council attending this year’s MIPIM event.

The team’s focus will be once again raising the profile of the city and positioning Salford as an innovative, forward-thinking city on a global stage. There’ll be opportunities to highlight the unique growth potential and the range of current regeneration projects in scope across the city.

Heading out to Cannes, France from 11-14 March for the event, presents the team with the chance for the team to meet with developers and public sector officials from cities and regions across the world.

Jack Youd, Deputy City Mayor and Lead Member for Finance, Support Services and Regeneration, said:

“As always, MIPIM presents an important opportunity for the city and as a first-time attendee I’m excited to experience everything the event has to offer.

Salford City Council is committed to placemaking which delivers for the existing residents of Salford and for people looking to live, work and play in our city. This vision is set out in our Corporate Plan and builds on the good growth and regeneration which has been vital to our success as a city. The connections made and developed at MIPIM are central to achieving our goals.

We need to continue to build the profile of the city further and ensuring potential investors and partners have Salford in the forefront of their minds.”

Salford City Council has long identified MIPIM as an important opportunity to share the city’s regeneration story and highlight the city’s vision for the future with those who have the potential to help deliver and achieve it.

This year, again there’s plenty to for the team to be highlighting. Salford has experienced significant growth and investment in recent years, and this is now having a positive knock-on effect. Investment attracts further investment and leads to future development opportunities throughout the city.

Current priorities include the new ambitious visions for the town centre redevelopment of Eccles and Swinton and the upcoming Strangeways and Cambridge Strategic Regeneration Framework. The new emerging Mayoral Development Zone at the Western Gateway, future plans at MediaCity and the importance of affordable social housing through Derive all present opportunities for developers and investors.

The key objectives for attending MIPIM are: raising the city’s profile on an international stage; highlighting the exciting development opportunities on the horizon; making those connections with potential developer partners.

The Salford City Council team is:

Jack Youd, Deputy City Mayor and Lead Member for Finance, Support Services and Regeneration

Jack was elected in 2021 to represent Walkden North ward also serving as the election agent for the directly elected City Mayor, Paul Dennett.

On election Jack was made the Executive Support for Procurement and Social Value, overseeing a large increase in the number of Foundation Living Wage accredited employers in Salford. In 2022 Jack was promoted to the Lead Member for Finance and Support Services.

In 2024, Jack was appointed to the position of Deputy City Mayor and added the Property and Regeneration portfolio to his roles and responsibilities. Jack also substitutes for the City Mayor at Greater Manchester Combined Authority, sits on the Greater Manchester Economy Board and Greater Manchester Pension Fund.

Jack is also chair of the Board of Directors of Salford Credit Union and has been a
non-executive director on SCU for ten years.

John Searle, Executive Director Place

John has 25 years’ experience in the public and private sector in economic development and physical regeneration across Greater Manchester, Lancashire and Merseyside with direct experience of implementing urban regeneration schemes and commercial property development. John joined Salford in November 2021 and is responsible for regeneration, property, development and investments, planning and building control, highways and technical services, operational services and employment and skills. This involves a gross revenue budget of over £90m and a capital programme of over £100m for 2022/23.

He is currently overseeing Salford’s ambitious growth plans to deliver 40,000 new jobs and homes by 2040 by building on the city’s four strategic growth locations (City Centre Salford, Salford Quays and MediaCity, Greater Manchester Western Gateway, including Port Salford and Salford’s Town Centres).

John previously worked for 15 years at Rochdale Council/Rochdale Development Agency on the £400m investment programme in Rochdale Town Centre, the development of the 420-acre Kingsway Business Park and the GM Spatial Framework proposal known as Northern Gateway.

Stephanie Mullenger, Interim Director Property and Housing

Steph has been working in Property since she was 16 and started as an estate agent in London. She completed her and RICS qualifications whilst working and has been involved with all aspects of the industry across all asset types and in several different countries.

She moved to the Northwest from London in 1997 and has over 25 years’ director and board level industry experience with a track record of success in developing multi-site retail, office leisure and residential estates and award winning, high performing teams.

She has worked for the Co-op, London Regional Transport, Global property Consultants, Banks and locally has been MD for Manchester Airport Group Property and Urban Splash. She also ran for ten years my own successful property consultancy before joining Salford City Council in 2023.

In March 2024, Steph was appointed as the Interim Director of Property and Housing.

Sarah Ashurst, Head of Partnerships and Investment, Salford City Council

Sarah has extensive experience of delivering the city’s regeneration ambitions during her time working for the council.

She leads a team of officers with on focus on driving the growth of the city, working with a range of public and private sector development partners, funding agencies, Greater Manchester partners and international investors and has a portfolio covering the whole of the city.

Full programme with Salford attended panel sessions

Tuesday 11 March

Place North Stand
- 8.30am Welcome from Northern Local Authorities
- Featuring: Stephanie Mullenger, Interim Director Property and Housing.
The Manchester Stand
- 10.30am Place based sustainable growth: How the Manchester city region is unlocking and supporting development
- Featuring John Searle, Executive Director, Place
The Manchester Stand
- 2.30pm Two cities and a river: Strangeways Strategic Regeneration Framework
- Featuring Jack Youd, Deputy City Mayor and Lead Member for Finance, Support Services and Regeneration
MIPIM UK Stage
- 3pm Faster, bigger, better – How can the North become the UK’s development driver?
- Featuring John Searle, Executive Director, Place
Wednesday 12 March

Canopy by Hilton
- 8am Place North MIPIM Breakfast Conference
- Featuring John Searle, Executive Director, Place
Thursday 13 March

The Manchester Stand
- 2pm Beyond Old Trafford: Exploring wider regeneration opportunities in Trafford and Salford
- Featuring Jack Youd, Deputy City Mayor and Lead Member for Finance, Support Services and Regeneration
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Date published

Monday 3 March 2025

Press and media enquiries
MIL OSI United Kingdom –
March 4, 2025
MIL-OSI USA: Fact Sheet: President Donald J. Trump Addresses the Threat to National Security from Imports of Timber, Lumber, and their Derivative Products

US Senate News:

Source: The White House
SECURING AMERICA’S LUMBER SUPPLY: Today, President Donald J. Trump signed an Executive Order launching an investigation into how imports of timber, lumber, and their derivative products threaten America’s national security and economic stability.
The Order directs the Secretary of Commerce to initiate a Section 232 investigation under the Trade Expansion Act of 1962.
This investigation will assess the national security risks arising from the United States’ increasing dependence on imported timber, lumber, and derivative products like paper, furniture, and cabinetry, and the potential need for trade remedies to safeguard domestic industry.
The investigation will culminate in a report identifying vulnerabilities in the lumber supply chain and providing recommendations to enhance the resilience of America’s domestic wood products industry.
ADDRESSING THE THREAT TO NATIONAL SECURITY: President Trump recognizes that an overreliance on foreign timber, lumber, and their derivative products could jeopardize the United States’ defense capabilities, construction industry, and economic strength.
Timber and lumber are essential materials for national security, economic stability, and industrial resilience.
Lumber plays a vital role in civilian construction and military infrastructure.
The U.S. military spends over ten billion dollars annually on construction and is testing innovative wood products such as cross-laminated timber.

The United States has been a net importer of lumber since 2016, despite having the practical production capacity to supply 95% of the United States’ 2024 softwood consumption.
Foreign supply chains and major exporters increasingly fill U.S. demand, creating vulnerabilities to disruptions.
America’s reliance on imported lumber is exacerbated by foreign government subsidies and predatory trade practices, which undermine the competitiveness of the U.S. wood products industry.
STRENGTHENING AMERICAN INDUSTRY: This Executive Order builds on previous actions taken by the Trump Administration to ensure U.S. trade policy serves the nation’s long-term interests.
On Day One, President Trump initiated his America First Trade Policy to make America’s economy great again.
President Trump signed proclamations to close existing loopholes and exemptions in order to restore a true 25% tariff on steel and elevate the tariff to 25% on aluminum.
President Trump implemented a 10% additional tariff on imports from China in response to China’s role in importing illegal drugs to the United States.
President Trump unveiled the “Fair and Reciprocal Plan” on trade to restore fairness in U.S. trade relationships and counter non-reciprocal trade agreements.
President Trump signed a memorandum to safeguard American innovation, including the consideration of tariffs to combat digital service taxes (DSTs), fines, practices, and policies that foreign governments levy on American companies.
President Trump launched a Section 232 investigation into how copper imports threaten America’s national security and economic stability.

MIL OSI USA News –

March 4, 2025
MIL-OSI: Strata Decision Technology and Snowflake Transform Healthcare Financial Analytics with Comprehensive Data Integration

Source: GlobeNewswire (MIL-OSI)

CHICAGO, March 03, 2025 (GLOBE NEWSWIRE) — Strata Decision Technology, a leader in the development of cloud-based financial planning, decision support, and performance analytics solutions for healthcare, today announced its collaboration with Snowflake, the AI Data Cloud Company, to create one of the largest comparable healthcare financial databases in the United States. This strategic initiative aims to deliver efficient access to near real-time and historical financial insights, with early adopters already beginning to access data directly through Snowflake.

The collaboration enables Strata to scale its data capabilities by unifying its diverse data assets — which include financial, operational, clinical, cost and margin, and claims data — within Snowflake’s robust, cloud-based data platform. This unified approach helps eliminate data siloes and provides healthcare organizations with a single source of truth for financial decision-making.

“Strata is rapidly innovating its data capabilities, and Snowflake is a key part of our innovation strategy,” said Jonathan Adams, Chief Technology Officer at Strata. “This collaboration strengthens Strata’s ability to deliver unique value and greater analytics horsepower for customers by offering among the largest and most diverse sets of healthcare data in the country.”

“At Snowflake, we’re committed to providing healthcare organizations with a platform that transforms how they leverage their most valuable asset — their data,” said Joe Warbington, Industry Principal, Healthcare at Snowflake. “Our work with Strata Decision Technology demonstrates how Snowflake can empower healthcare financial analytics at scale, helping providers make more informed strategic decisions that ultimately improve patient care and reduce costs.”

Ongoing integration of Strata’s data within Snowflake allows Strata to make its data more accessible to healthcare customers within StrataJazz and Axiom, its cloud-based enterprise performance management software platforms. As a result, both StrataJazz and Axiom customers get the benefits of more efficient scaling in response to organizations’ mounting data needs, and flexible data sharing to merge data from across multiple source systems and vendors. Snowflake also enables faster processing to accommodate increasingly complex data models, including Artificial Intelligence (AI) capabilities, Large Language Model (LLM) processes, and Machine Learning (ML).

Strata is creating a comprehensive healthcare intelligence ecosystem within Snowflake by strategically integrating multiple high-value datasets. This includes healthcare performance and patient volume data from StrataSphere, and hospital and physician benchmarking data from Comparative Analytics. In the coming months, Strata also will bring its proprietary 835 Remit and 837 All-Payor Claims Data (APCD) into Snowflake. To ensure data quality and consistency across these diverse datasets, Strata is leveraging AI and ML on Snowflake to ensure that common definitions and standards are applied to make the data consistent and comparable.

Strata also is leveraging Snowflake’s capabilities to advance its patient data integration strategy through secure tokenization of thoroughly cleansed and de-identified patient encounter and claims information. This innovative approach allows healthcare organizations to trace comprehensive patient journeys across multiple providers and facilities while maintaining strict privacy standards. By connecting all-payor claims data — which cover approximately 70% of patients — with granular encounter data in Snowflake’s easy, connected, and trusted data platform, Strata delivers unprecedented visibility into the complete patient care continuum. This unified view enables more personalized care planning and strategic resource allocation.

The integration also facilitates more accurate insights. For example, by combining claims data with demographic data, healthcare leaders can generate more rigorous volume projections to help guide them in making more informed strategic decisions. Similarly, merging claims and patient encounter data will help organizations identify patterns in patient behaviors, including where they may be losing patients to market competitors.

Strata’s collaboration with Snowflake emerged from Strata’s strategic initiative to future-proof its solutions amid explosive growth in customer data requirements. It is allowing Strata to move away from the limitations of its legacy StrataJazz on-premise SQL Server databases toward a highly scalable cloud architecture that meets the increasingly complex analytics needs of modern healthcare organizations.

Using Snowflake’s elasticity and performance, Strata can now scale its operations to deliver more accurate and efficient data and analytics capabilities for the customers it serves.

About Strata Decision Technology
Strata Decision Technology, LLC provides an innovative, cloud-based platform for software, and data and service solutions to help healthcare organizations acquire insights, accelerate decisions, and enhance performance in support of their missions. More than 2,300 organizations rely on Strata’s StrataJazz and Axiom solutions for market-leading service and enterprise performance management software, data, and intelligence solutions. To learn more about Strata and why the company has been named the market leader for Business Decision Support for more than 15 consecutive years, please go to www.stratadecision.com.

Strata Social Networks
LinkedIn: Strata Decision Technology

Media contact:
Sally Brown, Inkhouse
strata@inkhouse.com

The MIL Network –

March 4, 2025
MIL-OSI: Risk Strategies Appoints Melissa Lewis as Chief Operating Officer, Commercial Lines
Source: GlobeNewswire (MIL-OSI)

BOSTON, March 03, 2025 (GLOBE NEWSWIRE) — Risk Strategies, a leading national specialty insurance brokerage and risk management and consulting firm, today announced Melissa Lewis has been appointed to succeed Drew Carnase as Chief Operating Officer, Commercial Lines. Carnase is retiring after over 30 years in the industry.

Lewis came to Risk Strategies in 2023, developing a unification strategy for assimilating acquisitions and spearheading the creation of the firm’s Integration Management Office. She then built a Business Operations team designed to help leaders implement corporate initiatives, maximize time spent supporting teams and clients, and drive growth.

“Melissa is a transformational leader who has made us better with everything she’s touched,” said John Scroope, National Director of Retail Operations, Risk Strategies. “She is absolutely the right person to succeed Drew and push the Commercial Lines operations to the next level in terms of innovation, support, and growth.”

In her new role as Chief Operating officer, Commercial Lines, Lewis will focus on:
- Generating profitable growth while expanding market share for the firm
- Building out effective support systems for sales and service teams
- Ensuring consistent delivery of a market-leading client experience
- Inspiring an energized commitment to focus, ownership, and accountability
“I am excited to take on this new challenge,” said Lewis. “I feel confident that my industry experience, the groundwork Drew has laid, and the firm’s culture of collaboration and entrepreneurship will ensure success in both the near and long term.”

Prior to Risk Strategies, Lewis held increasingly responsible positions over the course of more than 30 years, including serving as Regional Operating Officer and Head of Client Service, North America for a top five broker. Based in Overland Park, Kansas, she is a native of the state and holds an associate degree in paralegal studies from Brown Mackie College.

To learn more about Risk Strategies, please visit www.riskstrategies.com.

About Risk Strategies

Risk Strategies, part of Accession Risk Management Group, is a North American specialty brokerage firm offering comprehensive risk management services, property and casualty insurance and reinsurance placement, employee benefits, private client services, consulting services, and financial & wealth solutions. The 9th largest U.S. privately held broker, we advise businesses and personal clients, have access to all major insurance markets, and 30+ specialty industry and product line practices and experts in 200+ offices – Atlanta, Boston, Charlotte, Chicago, Dallas, Grand Cayman, Kansas City, Los Angeles, Miami, Montreal, Nashville, New York City, Philadelphia, San Francisco, Toronto, and Washington, DC. RiskStrategies.com

Media Contact

Alana Bannan

Senior Account Executive

(720) 400-8025

Rsc@matternow.com

The MIL Network –
March 4, 2025
MIL-OSI: BCMI More Than Doubles Cloud-based Dispatch Footprint

Source: GlobeNewswire (MIL-OSI)

REDMOND, Wash., March 03, 2025 (GLOBE NEWSWIRE) — In 2024, BCMI Corp. celebrated 10 years in business, and another significant milestone. The technology leader and provider of cloud-based mobile software for concrete and bulk materials producers more than doubled its cloud-based ready-mix dispatch footprint across the U.S.

Industry-leading companies, beginning with Smith Ready Mix in Valparaiso, Indiana, have adopted BCMI’s cloud-based system, including Miles Sand & Gravel, Geneva Rock and Sunroc (both Clyde Companies subsidiaries), BARD Materials and GCC. These producers have added BCMI’s dispatch as part of the end-to-end software platform that includes extensive operational and customer KPIs, quoting and sales tools, and customer invoicing.

This year, large vertical materials producers imi and Titan America will implement BCMI’s cloud-based concrete dispatch system, as well as regional leaders Consumers Concrete and Zignego, to further accelerate its expansion.

“One of the great advantages of BCMI Dispatch is that any change or update from our dispatchers and drivers is instantly shared across our company—and with our customers—through the BCMI mobile apps,” BARD Materials Vice President of Operations Chad Thier says. “BCMI truly partners with producers to shape a concrete dispatch system that leverages the best technology available, ensuring it meets the needs of the industry.”

The BCMI Dispatch system has the advantage of being cloud-native, meaning it is developed using the most current technology rather than retrofitting older dispatch systems with hardware that must be maintained by producers. BCMI integrates with related systems, such as truck GPS and accounting programs, through API (Application Programming Interface) connections entirely in the cloud. This allows materials producers to choose their own best-in-class solution set to meet their business needs.

“After an extensive, six-month evaluation, we concluded that BCMI’s combination of current product offerings, plus the opportunity to take part in the continued development of the product, was the best fit for what imi needs to service our customers and our internal teams,” imi President and CEO Pete Lyons says.

BCMI’s leadership draws on more than 100 years of collective experience in serving the concrete and bulk materials market, making the team uniquely qualified to understand and address the needs of the industry. “We have all experienced the pain of struggling with outdated technology, and it makes us even more passionate about creating better tools for producers and contractors,” BCMI Vice President of Customer Success Janeen O’Dell says. “Things like mobile apps and eTicketing are old news in other industries, and there’s no reason our industry shouldn’t use them to make our day-to-day jobs easier.”

According to BCMI Co-founder and President Craig Yeack and author of the “Tech Trends” column for Concrete Products magazine, “Our product team is laser focused on innovation, including aggressive research and development of AI tools for materials producers. In the next few years, we’ll see accelerated growth in technology, faster than we’ve seen in decades. We look forward to being the industry’s trusted partner as we navigate these changes together.”

About BCMI

BCMI Corp.’s mobile software empowers bulk construction material producers to improve business processes. BCMI’s performance analytics, interactive communication tools and AI-assisted dispatch keep materials producers and contractors aligned with real-time business solutions. For more on our cloud-based BCMI Dispatch, Material Pro and Material Now apps, visit www.bcmicorp.com.

Media Contact

Jennifer Jensen, BCMI Media and PR Specialist: Jennifer.jensen@bcmicorp.com

The MIL Network –

March 4, 2025
MIL-OSI Economics: Huawei’s Yang Chaobin: AI-Centric Network Solution Helps Carriers Seize AI Opportunities Mar 03, 2025

Source: Huawei

Headline: Huawei’s Yang Chaobin: AI-Centric Network Solution Helps Carriers Seize AI Opportunities
Mar 03, 2025

[Barcelona, Spain, March 3, 2025] At the Huawei Product & Solution Launch during MWC Barcelona 2025, Yang Chaobin, Huawei’s Director of the Board and CEO of the ICT Business Group, launched the company’s AI-Centric Network solution.
According to Yang, the emergence of high-quality, low-cost, and open-source AI models will give rise to a wide range of new innovation in applications and accelerate the advent of an intelligent world.
Advancements in AI will transform society at three levels. It will enable a truly individualized experience for consumers, drive intelligent collaboration in organizations, and lay the groundwork for more inclusive intelligence for everyone.
Yang Chaobin, Huawei’s Director of the Board and CEO of the ICT Business Group, speaking at the Huawei Product & Solution Launch

As for the ICT industry, while evolving technology and a more diverse range of application scenarios will create unprecedented growth opportunities, they will also raise the bar for network infrastructure. To make the most of these opportunities, carriers need to make sweeping breakthroughs in network bandwidth, latency, coverage, and O&M.
“Huawei’s AI-Centric Network solution is designed to address these needs,” said Yang. “It revolutionizes network capabilities to enable all-domain connectivity. It will power a shift towards application-oriented O&M, and will reshape telecom service and business models to take full advantage of new opportunities presented by AI.”
AI-centric networks – A four-layered approach
Yang expanded on the challenges carriers face moving forward, explaining how Huawei’s solution can help them better prepare for a surge of new AI-powered applications.
All-domain connectivity. With more in-depth collaboration between AI and networks, carriers will be able to optimize resource orchestration for routing, bandwidth, and so on. This will provide intelligent applications with universal network access, ultra-high uplink and downlink, and SLA assurance.
Application-oriented O&M. Advances in AI applications will give rise to more complex service scenarios and massively diverse experience requirements. This will necessitate a shift from traditional, resource-oriented network O&M to a more application-oriented approach. Huawei’s Telecom Foundation Model supports predictive and proactive O&M, experience optimization based on application-level awareness, and tailored, more fine-grained operations. Carriers will be able to significantly enhance the efficiency of network O&M while taking user experience to entirely new levels.
Enhanced AI-to-X services. At the individual user level, AI-centric networks can deliver the right experience for different AI scenarios by assigning the exact levels of bandwidth, latency, and reliability needed. At the organizational level, they can break through bottlenecks in capacity and response times configured for person-to-person interactions, evolving networks to support person-to-agent and even agent-to-agent interactivity. And at the societal level, AI-centric networks will enable ubiquitous connectivity to speed up AI adoption in public services like education and healthcare, providing more inclusive value for communities around the world.
Innovative business models. Finally, different experience requirements will give carriers the opportunity to explore new business models that monetize a broader range of metrics. Essentially, AI-centric networks will allow carriers to go beyond traditional traffic-based monetization and start monetizing experience itself. This will unleash the full potential of connectivity and open up new revenue streams.
“We need to join hands and work together across the telecom industry,” Yang Chaobin concluded. “By exposing network capabilities, collaborating with different industries, and engaging in scenario-specific innovation, we can make the most of new growth opportunities in the age of AI, and bring the world one step closer to a brighter, more intelligent future.”
MWC Barcelona 2025 is held from March 3 to March 6 in Barcelona, Spain. During the event, Huawei will showcase its latest products and solutions at stand 1H50 in Fira Gran Via Hall 1.
In 2025, commercial 5G-Advanced deployment will accelerate, and AI will help carriers reshape business, infrastructure, and O&M. Huawei is actively working with carriers and partners around the world to accelerate the transition towards an intelligent world.
For more information, please visit: https://carrier.huawei.com/en/events/mwc2025

MIL OSI Economics –

March 4, 2025
MIL-OSI: Cyabra to Participate in the 37th Annual ROTH Conference on March 17-18

Source: GlobeNewswire (MIL-OSI)

New York, NY, March 03, 2025 (GLOBE NEWSWIRE) — Cyabra Ltd. (Nasdaq: TBMC) a leading AI platform for real-time disinformation detection, today announced its participation in the 37th Annual ROTH Conference on March 17-18, 2025, in Dana Point, CA.

During the conference, Dan Brahmy, Cyabra’s Chief Executive Officer and co-founder, will be available for one-on-one investor meetings on both days. To schedule a meeting, please contact your Roth representative.

Cyabra has entered into a business combination agreement with Trailblazer Merger Corporation I (NASDAQ: TBMC), a blank-check special-purpose acquisition company.

About the 37^thAnnual Roth Conference

This year’s event will consist of 1-on-1 / small group meetings, analyst-selected fireside chats, industry keynotes and panels with executive management attending from approximately 450 private and public companies in a variety of growth sectors including: Business Services, Consumer, Healthcare, Industrial Growth, Insurance, Resources, Sustainability and Technology, Media & Entertainment.

About Cyabra

Cyabra Strategy Ltd. is a real-time AI-powered platform that uncovers and analyzes online disinformation and misinformation by uncovering fake profiles, harmful narratives, and GenAI content across social media and digital news channels. Cyabra’s AI protects corporations and governments against brand reputation risks, election manipulation, foreign interference, and other online threats. Cyabra’s platform leverages proprietary algorithms and NLP solutions, gathering and analyzing publicly available data to provide clear, actionable insights and real-time alerts that inform critical decision-making. Cyabra uncovers the good, bad, and fake online.

For more information, visit www.cyabra.com.

Media Contact:

Jill Burkes
Jill@cyabra.com

Investor Relations Contact:

Miri Segal
MS-IR
msegal@ms-ir.com

About Trailblazer

Trailblazer is a blank check company formed for the purpose of entering into a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities. For more information, visit: www.trailblazermergercorp.com

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the federal securities laws with respect to certain products and services that are the subject of a proposed transaction (the “Business Combination”) between Trailblazer and Cyabra. All statements other than statements of historical facts contained in this press release, including statements regarding Cyabra’s business strategy, products and services, research and development costs, plans and objectives of management for future operations, and future results of current and anticipated product offerings, are forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to, the following risks relating to the proposed transaction: the ability to complete the Business Combination or, if Trailblazer does not consummate such Business Combination, any other initial business combination; expectations regarding Cyabra’s strategies and future financial performance, including its future business plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, market trends, liquidity, cash flows and uses of cash, capital expenditures, and Cyabra’s ability to invest in growth initiatives and pursue acquisition opportunities; the occurrence of any event, change or other circumstances that could give rise to the termination of the Business Combination Agreement; the outcome of any legal proceedings that may be instituted against Trailblazer or Cyabra following announcement of the Business Combination Agreement and the transactions contemplated therein; the inability to complete the proposed Business Combination due to, among other things, the failure to obtain Trailblazer stockholder approval; the risk that the announcement and consummation of the proposed Business Combination disrupts Cyabra’s current operations and future plans; the ability to recognize the anticipated benefits of the proposed Business Combination; unexpected costs related to the proposed Business Combination; the amount of any redemptions by existing holders of Trailblazer’s common stock being greater than expected; limited liquidity and trading of Trailblazer’s securities; geopolitical risk and changes in applicable laws or regulations; the size of the addressable markets for Cyabra’s products and services; the possibility that Trailblazer and/or Cyabra may be adversely affected by other economic, business, and/or competitive factors; the ability to obtain and/or maintain the listing of the combined company’s common stock on Nasdaq following the Business Combination; operational risk; and the risks that the consummation of the proposed Business Combination is substantially delayed or does not occur.

Important Information for Investors and Stockholders

In connection with the Business Combination, Trailblazer Holdings, Inc., a subsidiary of Trailblazer (“Holdings”) has filed a registration statement on Form S-4 (the “Registration Statement”) with the United States Securities and Exchange Commission (the “SEC”), which includes a preliminary proxy statement/prospectus, and certain other related documents, which will be both the proxy statement to be distributed to holders of shares of Trailblazer’s common stock in connection with its solicitation of proxies for the vote by its stockholders with respect to the Business Combination and other matters as may be described in the Registration Statement, as well as the prospectus of Holdings relating to the offer and sale of its securities to be issued in the Business Combination. . After the Registration Statement is declared effective, the proxy statement/prospectus will be sent to all Trailblazer stockholders so that they may vote on the Business Combination.

INVESTORS AND STOCKHOLDERS OF TRAILBLAZER ARE URGED TO READ CAREFULLY THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS, AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE BUSINESS COMBINATION AND THE PARTIES INVOLVED.

Trailblazer stockholders are currently able to obtain copies of the preliminary proxy statement/prospectus and other documents filed with the SEC that are incorporated by reference therein, and will be able to obtain the definitive proxy statement/prospectus and other documents filed with the SEC that will be incorporated by reference therein, once available, in all cases without charge, at the SEC’s web site at www.sec.gov, or by directing a request to: Trailblazer at 510 Madison Avenue, Suite 1401, New York, NY 10022, Telephone: 646-747-9618.

Participants in the Solicitation

Cyabra, Trailblazer, and their respective directors and executive officers may be deemed participants in the solicitation of proxies from Trailblazer stockholders regarding the proposed Business Combination. Information about Trailblazer’s directors and executive officers and their ownership of Trailblazer’s securities is set forth in the proxy statement/prospectus pertaining to the proposed Business Combination.

No Offer or Solicitation

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, or a solicitation of any vote or approval. No sale of securities shall occur in any jurisdiction in which such offer, solicitation, or sale would be unlawful before registration or qualification under applicable

The MIL Network –

March 4, 2025
MIL-OSI: Alation Announces Data Products Marketplace and Expert Services Offering to Operationalize Data Across the Enterprise
Source: GlobeNewswire (MIL-OSI)

REDWOOD CITY, Calif., March 03, 2025 (GLOBE NEWSWIRE) — Alation Inc., the data intelligence company, today introduced Alation Data Products Marketplace and a new Data Products Expert Services offering to ensure all organizations can easily operationalize their data assets to effectively deliver business impact. The Data Products Marketplace serves as a centralized exchange where business users and data teams can quickly find, understand, and access trusted data products. Complementing this product launch, Alation’s Expert Services offering helps organizations adopt the modern data operating model necessary to quickly operationalize data products at scale.

Many data teams struggle with fragmented data management approaches that hinder agility, trust, and scalability. Data products address these challenges by standardizing how data is packaged, governed, and consumed—ensuring consistency, compliance, and reusability while enabling faster access to trusted insights. According to the Harvard Business Review, A Better Way to Put Your Data to Work, companies that treat data like a product can reduce the time it takes to implement new use cases by as much as 90%, decrease their total ownership costs by up to 30%, and reduce their risk and data governance burden.

Alation’s new offerings enable businesses to efficiently operationalize data products at scale, changing data management from a fragmented and ad hoc process into a systematic and repeatable model. The Data Products Marketplace addresses the conflict between speed and trust, a common challenge for organizations striving to deliver data quickly while maintaining data governance and quality. It offers a centralized, governed platform where business users, applications, and AI systems can easily discover and utilize reliable, high-value data products, which speeds up business insights.

For a data product approach to be successful, organizations must also align people, processes, and culture. Alation’s new Data Products Expert Services helps organizations transition to a new data operating model by providing hands-on guidance and best practices for defining, managing, and delivering data products that align with business goals.

“Making reusable Data Products easily accessible through the Alation Marketplace gives us the power to operationalize our data faster – connecting our business users and applications with actionable and trusted data, enabling better decision-making,” said Paul Wingrove, Head of Data Enablement at Jupiter Asset Management.

“With AI adoption accelerating and creating even more strain on over-burdened data teams, organizations need a scalable, governed approach to data products to keep up with the demands of the business,” said Jake Magner, Senior Director, Product Management at Alation. “Our Data Products Marketplace and Expert Services provide a complete solution that enables businesses to balance speed with trust—delivering high-quality, reusable data products quickly that drive smarter AI and impactful business insights.”

Key Benefits of Alation Data Products Marketplace include:
- Deliver data products efficiently: Data teams can publish and manage reusable data products, analyzing usage across business teams to identify ways to optimize and reuse data effectively.
- Discover insights faster: Business users can easily find and access ready-to-use, trusted data products to make quick, confident decisions driving business impact.
- Reinforce data governance: The marketplace enforces governance policies by ensuring that data access, usage, and sharing align with predefined compliance and security standards, providing a controlled yet agile environment for data consumption.
- Power AI and automation: The marketplace provides the foundation for trusted data-driven AI and business applications while ensuring quality and compliance.
Key Benefits of Alation Data Products Expert Services include:
- Align people, processes, and technology to maximize data product effectiveness.
- Implement a producer/consumer model that fosters collaboration and accountability.
- Launch pilot initiatives to prove value and establish repeatable success.
- Scale data products strategically to drive long-term business impact.
The Alation Data Product Marketplace will be generally available in Q3 2025. The Data Products Expert Services are available immediately.

To learn about the Modern Data Operating Model, download the latest whitepaper: The Data Product Blueprint: 10 Key Attributes for Faster Business Impact. Read the blog: “Introducing the Alation Data Products Marketplace: Trusted, High-Impact Data at Speed.”

About Alation
Alation is the data intelligence company. More than 600 global enterprises — including 40% of the Fortune 100 — rely on Alation to realize value from their data and AI initiatives. Customers such as Cisco, DocuSign, Nasdaq, Pfizer, and Samsung trust Alation’s platform for self-service analytics, cloud transformation, data governance, and AI-ready data, fostering data-driven innovation at scale. Headquartered in Redwood City, California, Alation has been recognized five times by Inc. Magazine as one of the Best Workplaces. To learn more, visit www.alation.com.

Media Contact
Ashley Womack
Sr. Director, Corporate Marketing
650-504-2647
ashley.womack@alation.com

The MIL Network –
March 4, 2025
MIL-OSI: Central 1 and Intellect Design Arena Ltd. Conclude Operating Partnership Transaction Digital banking operations transferred as of March 3, 2025

Source: GlobeNewswire (MIL-OSI)

VANCOUVER, British Columbia and TORONTO, March 03, 2025 (GLOBE NEWSWIRE) — Central 1 Credit Union (Central 1) and Intellect Design Arena Ltd. (Intellect) today announced the completion of all necessary closing activities for the operating partnership agreement in which Intellect will assume responsibility for Central 1’s digital banking operations.

Effective March 3, 2025, operation of Central 1’s Forge, MemberDirect, public website and mobile applications and products, will be transferred to Intellect. Team members from Central 1’s digital banking engineering and service teams will also join the Intellect team to operate Central 1’s digital banking software and support clients as they transition to new digital banking platforms.

Central 1 will continue to provide the technology infrastructure and related services.

“The Intellect team, along with those joining from Central 1, bring a strong commitment to seamless service and collaboration. We are confident that this approach provides the most stable path forward for clients and for Central 1 as transitions to new digital banking platforms take place over the next few years,” said Sheila Vokey, CEO of Central 1.

“We are pleased to welcome the Central 1 team members joining Intellect and reaffirm our deep commitment to credit unions and banks in Canada. As trusted financial partners to millions, credit unions are pivotal in fostering economic resilience and community-driven banking. Their ability to stay ahead in a rapidly evolving landscape depends on a strong digital foundation that balances innovation with stability,” said Rajesh Saxena, CEO of Intellect Global Consumer Banking.

About Central 1: Central 1 cooperatively empowers credit unions and other financial institutions who deliver banking choice to Canadians. With assets of $11.6 billion as of September 30, 2024, Central 1 provides critical payments, treasury and clearing and settlement services at scale to enable the credit union system. We do this by collaborating with our clients, developing strategies, products, and services to support the financial well-being of their more than five million diverse customers in communities across Canada. For more information, visit central1.com. 

About Intellect Design: Intellect is an enterprise-grade financial technology leader, providing composable and intelligent solutions for futuristic global financial institutions across 57 countries. Intellect’s revolutionary First Principles Thinking-based Platform, eMACH.ai, is the most comprehensive, composable, and intelligent open finance platform in the world. With three decades of domain expertise, Intellect Design offers a full spectrum of banking and insurance technology products through four lines of business: Global Consumer Banking (iGCB), Global Transaction Banking (iGTB), IntellectAI and Digital Technology for Commerce (iDTC). Intellect Canada delivers proven Retail and Commercial Banking solutions, including Core Banking and Digital platforms, tailored to meet the unique needs of Canadian financial institutions of all sizes. To know more, visit intellectdesign.com

Caution Regarding Forward Looking Statements
This press release and announcement contains historical, forward-looking statements as well as statements about the timing and completion of closing activities and the nature and quality of the services, collaboration and timing of transitions to new digital banking platforms. All statements and other information about anticipated future events may constitute “forward-looking information” under Canadian securities laws. These include, without limitation, statements relating to Central 1’s intention to wind down its digital banking business, and the timeline and processes relating to the same, Central 1’s plans to transition its clients to alternative digital banking providers, as well as statements that contain the words “may,” “will,” “intends” and “anticipates” and other similar words and expressions.

Forward-looking information are or may be based on assumptions, uncertainties, and management’s best estimates of future events. Central 1 has based the forward-looking statements on current plans, information, data, estimates, expectations, and projections about, among other things, results of operations, financial, condition, prospects, strategies and future events, and therefore undue reliance should not be placed on them. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made. Actual results may differ materially from those currently anticipated. Securityholders are cautioned that such forward-looking statements involve risks and uncertainties. Certain important assumptions by Central 1 in making forward-looking statements include, but are not limited to, competitive conditions, economic conditions and regulatory considerations. Important risk factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include economic risks, regulatory risks (including legislative and regulatory developments), risks and uncertainty from the impact of rising or falling interest rates, information technology and cyber risks, environmental and social risk (including climate change), digital disruption and innovation, reputation risk, competitive risk, privacy, data and third-party related risks, risks related to business and operations, risks relating to the transition of clients to alternative digital banking providers, and other risks detailed from time to time in Central 1’s periodic reports filed with securities regulators. Given these risks, the reader is cautioned not to place undue reliance on forward-looking statements. Central 1 undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.

Contacts

The MIL Network –

March 4, 2025
MIL-OSI: Announcement of the ordinary general shareholders meeting Urbo bankas UAB for the year 2025
Source: GlobeNewswire (MIL-OSI)

Urbo bankas UAB (hereinafter – “the Bank”), company code 112027077, address: Konstitucijos pr.18B, Vilnius.

The Ordinary General Meeting of Shareholders of the Bank is convened in 2025 March 21, 11 a.m. at Konstitucijos pr. 18B, Vilnius (4th floor).

The agenda of the ordinary General Meeting of Shareholders is as follows:
- Regarding Urbo bankas UAB in 2024 management reports.
- Regarding the auditor’s report of Urbo bankas UAB.
- Regarding the approval of the Set of Financial Statements of Urbo bankas UAB for 2024.
- Regarding the distribution of profit of Urbo bankas UAB for the year 2024.
- Regarding the increase of the authorized capital of Urbo bankas UAB from the funds of Urbo bankas UAB.
- Regarding the amendment of the articles of association of Urbo bankas UAB.
- Regarding the election of members of the supervisory board of Urbo bankas UAB.
The draft resolution of each issue on the agenda of the general meeting of shareholders, as well as other documents that must be submitted to the general meeting of shareholders, and information related to the exercise of shareholder rights, can be obtained from the person exercising the rights of the Bank’s shareholder at the bank’s headquarters at Konstitucijos pr. 18B, Vilnius. The opportunity to receive the above-mentioned information will be made no later than 10 days before the general meeting of shareholders.

For more information please contact: Head of Business Division Julius Ivaška, ph.: +370 601 04 453, e-mail: media@urbo.lt

The MIL Network –
March 4, 2025
MIL-OSI: LPL Welcomes Financial Advisor Michael Carmichael

Source: GlobeNewswire (MIL-OSI)

SAN DIEGO, March 03, 2025 (GLOBE NEWSWIRE) — LPL Financial LLC (Nasdaq:LPLA) announced today that financial advisor Michael Carmichael, RFC®, CRPS®, founder of Carmichael Financial, has joined LPL Financial’s broker-dealer, Registered Investment Advisor (RIA) and custodial platforms. He reported serving approximately $190 million in advisory, brokerage and retirement plan assets* and joins LPL from Osaic.

With more than 20 years in financial services, Carmichael is passionate about helping his clients work toward building more secure financial futures. He works with five support staff members to provide a wide range of comprehensive wealth management services, including investments, risk management, tax strategies, retirement income planning and estate planning. They operate from registered offices in Tucson, Ariz., Englishtown, N.J., and Logan, Utah.

Prior to becoming an advisor, Carmichael spent eight years in the U.S. Marine Corps, serving in the Gulf War. He holds fast to the Corps values of honor, courage and commitment, often applying those same principles within his practice.

Carmichael’s aspirations to grow his business and elevate client experiences led him to LPL Financial.

“I’m always looking out for the best interest of my clients, and I believe they are in a better position at LPL, a publicly traded Fortune 500 company that regularly makes significant investments into technology, resources and service,” Carmichael said. “LPL is in growth mode and so is my business. As I look to expand my firm, I appreciate knowing I have the support and M&A experience of LPL behind me. In fact, LPL has already connected me with other advisors looking to retire soon. I am confident that these connections, paired with LPL’s other growth solutions and strategies, will help propel our business forward.”

Scott Posner, LPL Executive Vice President, Business Development, said, “I’d like to extend a warm welcome to Mike and his team. At LPL, we understand that advisors are looking for sophisticated capabilities and the autonomy to build and grow their ideal practice according to their vision. That’s why we invested more than $500 million last year in innovative technology and strategic resources to help their businesses thrive, both operationally and strategically. We look forward to a long-lasting relationship with Carmichael Financial.”

Related

Advisors, learn how LPL Financial can help take your business to the next level.

About LPL Financial

LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports nearly 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately $1.7 trillion in brokerage and advisory assets on behalf of approximately 6 million Americans. The firm provides a wide range of advisor affiliation models, investment solutions, fintech tools and practice management services, ensuring that advisors and institutions have the flexibility to choose the business model, services, and technology resources they need to run thriving businesses. For further information about LPL, please visit www.lpl.com.

Securities and advisory services offered through LPL Financial LLC (“LPL Financial”), a registered investment advisor and broker-dealer, member FINRA/SIPC. Carmichael Financial and LPL are separate entities.

Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.

We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.

*Value approximated based on asset and holding details provided to LPL from end of year, 2024.

Media Contact:
Media.relations@LPLFinancial.com
(704) 996-1840

Tracking #700678

The MIL Network –

March 4, 2025
MIL-OSI: XMS Capital Partners Expands Healthcare Investment Banking Expertise with Addition of Veteran Banker Rick Kimball

Source: GlobeNewswire (MIL-OSI)

CHICAGO, March 03, 2025 (GLOBE NEWSWIRE) — XMS Capital Partners LLC (“XMS”), a global, independent financial services firm focused on M&A, corporate advisory, and asset management services, is pleased to announce the addition of Richard (Rick) Kimball as a Managing Director. His appointment underscores XMS’s commitment to expanding its healthcare investment banking capabilities and delivering exceptional advisory services to clients.

“We are thrilled that Rick has decided to return to investment banking at XMS,” said Ted Brombach, Co-Managing Partner at XMS. “His extensive track record at Goldman Sachs and Morgan Stanley, coupled with his leadership experience as an operating executive, will be instrumental in extending our reach in the healthcare sector. Rick’s strategic insights will enhance the value we bring to clients globally, and we look forward to the impact he will have as we continue to grow.”

“I’m excited to be joining the exceptional team of investment bankers at XMS,” said Rick Kimball. “I have known many of the XMS partners for over 25 years, and we share a client-first approach that has been a cornerstone of success throughout my career. I look forward to contributing my experience in healthcare and capital markets to help drive XMS’s continued success.”

About Rick Kimball

Rick Kimball brings over 35 years of experience in investment banking, venture capital, and capital markets. He was a partner at Goldman Sachs, where he served as Co-Head of Global Healthcare Investment Banking and Co-Head of the Healthcare, Consumer, and Retail Financing Group. Before that, he spent 17 years at Morgan Stanley, leading Healthcare Equity Capital Markets and Healthcare Services Investment Banking. He also co-founded Millennium Technology Partners, a venture capital firm focused on early-stage Internet infrastructure investments.

Beyond investment banking, Rick held leadership roles in healthcare technology. He was the Chief Strategy and Growth Officer at Accretive Health (now R1), overseeing strategy, sales and marketing, and product management. He later served as President of Rymedi, a blockchain-based healthcare technology company. Most recently, he has been a CEO coach, advising executives on strategy, execution, and accountability.

Rick has also served as a trustee of the Brookings Institution in Washington, D.C., and the Ralph Lauren Center for Cancer Care and Prevention in Harlem.

About XMS Capital Partners

Founded in 2006, XMS Capital Partners LLC is a global, independent financial services firm providing M&A, corporate advisory, and asset management services. The firm has offices in Chicago, London, Boston, and Dallas.

For more information, please visit www.xmscapital.com.

Media Contact

Samantha Bailey
XMS Capital Partners
Phone: 312.262.5642
www.xmscapital.com

The MIL Network –

March 4, 2025
MIL-OSI Global: ‘All in your head’: when doctors misdiagnose autoimmune disease as psychosomatic

Source: The Conversation – UK – By Melanie Sloan, Researcher, Public Health, University of Cambridge

Money Business Images

Feeling disbelieved when knowing that there is something very wrong with your body can have devastating and long-term consequences. One of the most obvious consequences is that you won’t get the correct treatment and support.

A study my colleagues and I conducted of over 3,000 people with autoimmune disease uncovered many extra long-lasting disadvantages when the misdiagnosis involved a mental health or psychosomatic label (often termed an “in your head” misdiagnosis by patients).

These often included feelings of shame, self-doubt and depression. For some, it extended to suicidal thoughts and even suicide attempts.

A further consequence was that people had much lower trust in doctors. This distrust led to some people avoiding seeking further medical help, often for fear of being disbelieved again.

A concerning finding from our study was that these negative emotions and distrust often remained just as strong many years after feeling that a doctor had not believed their symptoms.

Psychological scars were deep and usually unhealed. Over 70% of people reporting a psychosomatic or mental misdiagnosis said that it still upset them. And over 80% said that it had damaged their self-worth.

One of our study participants, who had several autoimmune diseases, told her story that spoke for many: “One doctor told me I was making myself feel pain – I still can’t forget those words. Telling me I’m doing it to myself has made me very anxious and depressed.”

It’s not all in the mind.
Africa Studio/Shutterstock

‘I still can’t forget these words’

These findings were not just anecdotal. Overall, we found depression levels were significantly higher and wellbeing levels lower in people who reported receiving mental health or psychosomatic misdiagnoses.

We chose to use this woman’s testimony in the title of our study: “I still can’t forget those words.” Not only did it accurately reflect our findings, but it symbolises our research team’s ethos to give these often unheard patients a voice.

The hurt of misdiagnosis was compounded by having “nowhere to voice my anger” or distress. Some of the most moving stories were from people whose early symptoms of autoimmune disease, when they were still children, had been disbelieved by doctors.

Even in middle or older age, those words and feelings had remained with them for decades, often felt as strongly as the day that they were heard. As one of the patient partners in our research team described it, they lived the rest of their lives with “seared souls”.

A woman with lupus told the interviewer that her doctor had told her at age 16 that she had “too many symptoms for it not to be hypochondria”. She spoke very emotively and articulately about the damage caused to a developing sense of self.

It has affected my mental health very negatively and I do think it’s affected me in my like sense of self. It’s not good for anyone at any age but as a teenage girl being told you don’t know your own feelings is absolutely no way to shape a human being.

It is natural when hearing all these very difficult stories, and seeing the damage caused, to blame doctors, but is that fair? Doctors very rarely set out to cause harm. Rather, in some cases, it is impossible to diagnose autoimmune diseases quickly.

However, our study highlights that some doctors do reach too quickly for a psychosomatic or mental health explanation for autoimmune disease symptoms.

Some research that may have influenced doctors in giving psychosomatic misdiagnoses says that a long list of symptoms is a red flag that the symptoms are not caused by a disease. This generalisation rather dangerously fails to account for the fact that a long list of symptoms is also a red flag for many autoimmune diseases.

Many autoimmune symptoms are also invisible, and there are no clear tests that will show how bad they are to the doctor. Some of the terms that patients find upsetting and dismissive when doctors talk or write about their symptoms include “vague” and “non-specific”.

Doctors often write letters quickly due to health service constraints, sometimes unthinkingly using terms passed down from their seniors; letters that use terms like “patient claims” or “no objective evidence found of” can increase feelings of being disbelieved.

Empathetic listening

Our research suggests that more doctors need to think about autoimmunity as a diagnosis early on when faced with multiple varied symptoms that often don’t seem to fit together. Above all, many diagnostic clues can be found by listening to and believing the people experiencing the symptoms.

Empathetic listening and support are also required to help misdiagnosed patients heal emotionally – they very rarely can just “move on” as one doctor advised. We should not underestimate the power of doctors saying “I believe you” to patients with multiple invisible symptoms, and “I am sorry for what has happened in the past” if they had a difficult road to diagnosis.

Most of the 50 doctors interviewed for the study reported that misdiagnoses were common in autoimmunity, but few had realised that the repercussions of these misdiagnoses were so severe and long lasting.

Reassuringly, almost all of them were saddened and motivated to improve their patients’ experiences. Several explained that they thought they were being reassuring by telling patients that their symptoms were most likely to be psychological or stress-related and thought this would be preferable to patients worrying about having a disease.

Although many people experience mental health and psychosomatic symptoms, and doctors must consider them as a possible explanation, a clear lesson from our study is that psychosomatic (mis)diagnoses are rarely seen as reassuring to patients with autoimmune disease symptoms. Rather, they are usually deeply damaging with lifelong and life-changing repercussions.

Melanie Sloan receives funding from LUPUS UK, The Lupus Trust, Vasculitis UK, and NIHR. She is an Associate Editor for Rheumatology (Oxford) journal and receives consultancy fees to her Long-Term Conditions Research Group at Cambridge Department of Public Health from Otoimmune, a company dedicated to creating innovative tools and resources to empower people with autoimmune conditions to better understand, manage, and improve their health.

– ref. ‘All in your head’: when doctors misdiagnose autoimmune disease as psychosomatic – https://theconversation.com/all-in-your-head-when-doctors-misdiagnose-autoimmune-disease-as-psychosomatic-250953

MIL OSI – Global Reports –

March 4, 2025
MIL-OSI Global: Governments can keep raiding takeaways and nail bars, but businesses will still employ undocumented migrants

Source: The Conversation – UK – By Aida Hajro, Chair in International Business, University of Leeds, and Founding Co-Director of Migration, Business & Society, University of Leeds

hxdbzxy/Shutterstock

The UK is far from the only country to be caught in a heated debate over its migration system and border security. Unfortunately, it is unlikely to get its response right, because the UK debate ignores a fundamental truth: migration trends largely follow economic cycles and labour demand.

It is well-documented that immigration increases during periods of economic growth and declines during downturns. Furthermore, Brexit has aggravated the UK’s labour shortages – a pinch being felt across nearly every work sector.

Nearly 40% of UK businesses have not been able to grow or take advantage of new opportunities because of these labour shortages.

Public discussions, including recent news coverage, tend to focus on border control and enforcement while overlooking the economic realities that shape migration. Past and present UK governments have largely failed to address the fact that migration is driven by the needs of UK businesses – and is often facilitated by informal recruitment systems, due to the lack of efficient legal migration channels.

Our recent research backs up the idea that demand for labour is a major driver of both documented and undocumented (also known as “irregular”) immigration. Despite not being legally allowed to work, undocumented migrants are still sought after because of the shortages.

Read more:
Irregular, not illegal: what the UK government’s language reveals about its new approach to immigration

Efforts to “crack down” on irregular migration often fail because businesses – especially in sectors like agriculture, healthcare, construction and the service industry – continue to rely on these workers. So without addressing labour shortages and recruitment practices, policies to restrict migration won’t work.

But who bears the cost of migration? It’s not the UK government.

Like most countries, the UK requires prospective workers to obtain a work visa while they are still in their country of origin. Getting this paperwork done is costly and complicated. A worker needs to apply, certify translations of the required documents, in some cases undergo a medical examination, cover travel expenses, pay the visa application fee, and show proof that they have enough personal savings to support themselves in the UK.

For example, Nepalese workers pay around £6,000 to emigrate to Europe. This can amount to four years of wages for low-income workers there.

To get to the UK, many rely on licensed recruitment agencies, known as “sponsors”. However, neither these sponsors nor the employers who desperately need workers are legally required to cover the costs of migration. For instance, the UK’s seasonal worker scheme, designed to provide much-needed labour for agriculture, does not require employers to pay for visa fees or recruitment expenses.

This is a major weakness in the system, as it leaves the burden of migration costs on prospective workers – people who are ready to take on low-paid and seasonal jobs that UK citizens often avoid. To pay their way, many of these workers borrow from private money-lenders in their home countries, whose monthly interest rates can be excessive. Unsurprisingly, some turn to people smugglers.

These smugglers often operate a business model that offers shortcuts for entering the UK, frequently making false promises about the length of employment and wages on offer. Studies show that most migrants are aware of the severe risks involved in using these illicit services, yet they still do due to the lack of better alternatives.

The Employer Pays Principle

Crossing the Channel is not the primary source of undocumented migration into the UK. The main issue is people overstaying legally granted visas, as the renewal process is complex and costly.

It is no secret in the business world that migrant workers are exposed to significant costs just to access employment. To address this, the Institute for Human Rights and Business – a UK-based thinktank – introduced the Employer Pays Principle (EPP). This asserts that the costs of migration should be paid not by the workers but by employers. Leading corporations in the UK including Unilever, Morrisons, Waitrose and IHG Hotels & Resorts have adopted EPP.

However, embracing this principle can be much more challenging for small and medium-sized enterprises (SMEs). The more-than-800 premises, including nail salons and takeaways, raided across the UK in January 2025 are unlikely to have the human resources and financial means to cover migration costs for the workers they need. Issuing civil penalty notices and demanding that SMEs pay £60,000 per worker if found liable will not solve the problem of undocumented workers.

In general, punitive policies do not stop migration. They simply make it more precarious for already vulnerable people.

And the government’s social media campaigns in countries like Vietnam and Albania, aimed at discouraging people from illegal travel to the UK, are also unlikely to work. The EU tried similar policies between 2015 and 2019 at a cost of nearly €45 million (£37 million) – and they largely failed.

The UK government has run campaigns aimed at discouraging would-be migrants from Vietnam.

To prevent undocumented migration, firms in need of workers should take responsibility for covering the actual costs of migration. Large firms should be legally required to do so, while for SMEs, the UK government could consider ways to improve access to financing and advisory services. It should also consider incentives and rewards for companies that have voluntarily adopted the EPP or introduced other good practices.

Important next steps

It is possible to estimate the cost of responsibly recruiting a migrant worker from a specific country to the UK. Providing clear and open access to this information would be another important step towards facilitating legal migration routes. After all, universities, consultancies and non-governmental organisations are collecting this data. Cross-sector partnerships could save time and money.

Social media campaigns should prioritise educating potential migrants about UK immigration laws and their rights. This would be more valuable than focusing on the risks of undocumented journeys.

It is also crucial to evaluate whether educational campaigns are more effective than those aimed at deterring migration. The government should remain open to abandoning any overseas social media campaigns that don’t demonstrate cost-effectiveness.

The solution starts with accepting the realities of migration and acknowledging labour market forces. Then, creating the right regulatory environment will reduce the human cost of irregular migration, while supporting UK businesses to find the workers they need.

The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. Governments can keep raiding takeaways and nail bars, but businesses will still employ undocumented migrants – https://theconversation.com/governments-can-keep-raiding-takeaways-and-nail-bars-but-businesses-will-still-employ-undocumented-migrants-250947

MIL OSI – Global Reports –

March 4, 2025
MIL-OSI: Odysight.ai to Participate at the 37th Annual ROTH Conference on March 17-18, 2025

Source: GlobeNewswire (MIL-OSI)

Omer, Israel, March 03, 2025 (GLOBE NEWSWIRE) — Odysight.ai Inc. (Nasdaq: ODYS), a pioneering developer of AI systems for Predictive Maintenance (PdM) and Condition-Based Monitoring (CBM), today announced its participation at the 37th Annual ROTH Conference on March 17-18, 2025, in Dana Point, CA.

Yehu Ofer, Chief Executive Officer, and Einav Brenner, Chief Financial Officer, will be available for one-on-one investor meetings on both days. To schedule a meeting, please contact your Roth representative.

About the 37th Annual ROTH Conference

This year’s event will consist of 1-on-1 / small group meetings, analyst-selected fireside chats, industry keynotes and panels with executive management attending from approximately 450 private and public companies in a variety of growth sectors including: Business Services, Consumer, Healthcare, Industrial Growth, Insurance, Resources, Sustainability and Technology, Media & Entertainment.

About Odysight.ai

Odysight.ai is pioneering the Predictive Maintenance (PdM) and Condition Based Monitoring (CBM) markets with its visualization and AI platform. Providing video sensor-based solutions for critical systems in the aviation, transportation, and energy industries, Odysight.ai leverages proven visual technologies and products from the medical industry. Odysight.ai’s unique video-based sensors, embedded software, and AI algorithms are being deployed in hard-to-reach locations and harsh environments across a variety of PdM and CBM use cases. Odysight.ai’s platform allows maintenance and operations teams visibility into areas which are inaccessible under normal operation, or where the operating ambience is not suitable for continuous real-time monitoring.

We routinely post information that may be important to investors in the Investors section of our website. For more information, please visit: https://www.odysight.ai or follow us on Twitter, LinkedIn and YouTube.

Forward-Looking Statements

Information set forth in this news release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, but not limited to, statements regarding the Company’s intention to participate in the 37th Annual ROTH Conference. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other comparable terminology. Those statements are based on information we have when those statements are made or our management’s current expectation and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward- looking statements. Factors that may affect our results, performance, circumstances or achievements include, but are not limited to the following: (i) market acceptance of our existing and new products, including those that utilize our micro Odysight.ai technology or offer Predictive Maintenance and Condition Based Monitoring applications, (ii) lengthy product delays in key markets, (iii) an inability to secure regulatory approvals for the sale of our products, (iv) intense competition in the medical device and related industries from much larger, multinational companies, (v) product liability claims, product malfunctions and the functionality of Odysight.ai’s solutions under all environmental conditions, (vi) our limited manufacturing capabilities and reliance on third-parties for assistance, (vii) an inability to establish sales, marketing and distribution capabilities to commercialize our products, (viii) an inability to attract and retain qualified personnel, (ix) our efforts to obtain and maintain intellectual property protection covering our products, which may not be successful, (x) our reliance on a single customer that accounts for a substantial portion of our revenues, (xi) our reliance on single suppliers for certain product components, including for miniature video sensors which are suitable for our Complementary Metal Oxide Semiconductor technology products, (xii) the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain, (xiii) the impact of computer system failures, cyberattacks or deficiencies in our cybersecurity, (xiv) the fact that we conduct business in multiple foreign jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical, global supply chain and communications challenges, burdens and costs of compliance with foreign laws and political and economic instability in each jurisdiction and (xv) political, economic and military instability in Israel, including the impact of Israel’s war against Hamas and Hezbollah. These and other important factors discussed in Odysight.ai’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 26, 2024 and our other reports filed with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Except as required under applicable securities legislation, Odysight.ai undertakes no obligation to publicly update or revise forward-looking information.

Investor Relations Contact:
Miri Segal
MS-IR LLC
msegal@ms-ir.com

Company Contact:
Einav Brenner, CFO
info@odysight.ai

The MIL Network –

March 4, 2025

Category: Commerce

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