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Category: Economy

  • MIL-OSI: Maris-Tech Completes the Development of MARS RF

    Source: GlobeNewswire (MIL-OSI)

    The MARS RF delivers advanced intelligence gathering capabilities via ultra-light, low-power, H.265 DVR & streamer that it has designed for miniature drones

    Rehovot, Israel, Feb. 20, 2025 (GLOBE NEWSWIRE) — Maris-Tech Ltd. (Nasdaq: MTEK, MTEKW) (“Maris-Tech” or the “Company”), a global leader in video and artificial intelligence (“AI”) based edge computing technology, today announced that it has successfully completed the development of MARS RF, an advanced ultra-lightweight H.265 digital video recording (“DVR”) and video streaming solution. Based on the Company’s MARS V300, MARS RF delivers an end-to-end solution for the entire video pipeline.

    Developed for a classified intelligence unit and already deployed in the field, MARS RF meets the rigorous operational requirements of defense and homeland security forces. The product offers industry-leading size, weight, and power efficiency, consuming less than 1W, with a wake-up time of under one second and a total weight of less than four grams.

    MARS RF is a cutting-edge H.265 DVR and video streamer designed for miniature drone applications. Miniature, ultra lightweight, and ultra-low power, it offers unmatched versatility with wireless connectivity over a serial interface. MARS RF connects to the drone’s autopilot system, camera and radio, offering a complete solution for miniature drones and ensuring reliable performance in demanding environments.

    “MARS RF represents a technological leap in miniature video intelligence solutions,” said Israel Bar, Chief Executive Officer of Maris-Tech. “We are incredibly proud of our team’s successful development of this innovative product, which reinforces our commitment to cutting-edge, field-proven solutions for defense and homeland security applications.”

    About Maris-Tech Ltd.

    Maris-Tech is a global leader in video and AI-based edge computing technology, pioneering intelligent video transmission solutions that conquer complex encoding-decoding challenges. Our miniature, lightweight, and low-power products deliver high-performance capabilities, including raw data processing, seamless transfer, advanced image processing, and AI-driven analytics. Founded by Israeli technology sector veterans, Maris-Tech serves leading manufacturers worldwide in defense, aerospace, Intelligence gathering, homeland security (HLS), and communication industries. We’re pushing the boundaries of video transmission and edge computing, driving innovation in mission-critical applications across commercial and defense sectors.

    For more information, visit https://www.maris-tech.com/

    Forward-Looking Statement Disclaimer

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company’s future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect”,” “may”, “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, the Company is using forward-looking statements when the Company is discussing: the benefits and advantages of MARS RF and that MARS RF represents a technological leap in miniature video intelligence solutions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company’s control. The Company’s actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause its actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: its ability to successfully market its products and services, including in the United States; the acceptance of its products and services by customers; the Company’s continued ability to pay operating costs and ability to meet demand for its products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; its ability to successfully develop new products and services; its success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; its ability to comply with applicable regulations; and the other risks and uncertainties described in the Annual Report on Form 20-F for the year ended December 31, 2023, filed with the SEC on March 21, 2024, and its other filings with the SEC. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Investor Relations:

    Nir Bussy, CFO
    Tel: +972-72-2424022
    Nir@maris-tech.com

    The MIL Network –

  • MIL-OSI: Prairie Provident Announces Closing of Initial Tranche of Private Placement for $4.8 Million to Advance Basal Quartz Horizontal Drilling Program

    Source: GlobeNewswire (MIL-OSI)

    NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

    CALGARY, Alberta, Feb. 20, 2025 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident” or the “Company”) (TSX:PPR) is pleased to announce the closing of the first tranche of its recently announced equity financing, for $4,800,000 in gross proceeds from its principal and largest shareholder, PCEP Canadian Holdco, LLC (“PCEP”) upon the issue of 112,941,176 common shares (“Common Shares”) at a price of $0.0425 per Common Share (the “First Tranche Closing”).

    The First Tranche Closing is part of the $9,100,000 brokered equity financing previously announced by the Company, led by Research Capital Corporation as the lead agent and sole bookrunner on behalf of a syndicate of agents including Haywood Securities Inc. (collectively the “Agents”) and consisting of:

    1. an offering up to 96,470,589 units of the Company (“Units”) at a price of $0.0425 per Unit for gross proceeds of up to $4,100,000, on a prospectus-exempt basis pursuant to the ‘listed issuer financing exemption’ (LIFE) under applicable Canadian securities laws (the “LIFE Offering”), with (i) each Unit consisting of one Common Share and one Common Share purchase warrant (“Warrant”), and (ii) each Warrant to entitle the holder to subscribe for and purchase one Common Share at an exercise price of $0.05 for a period of 36 months following closing; and
    2. a private placement of up to 117,647,059 Common Shares at a price of $0.0425 per Common Share for gross proceeds of up to $5,000,000, pursuant to available exemptions from the prospectus requirements of applicable Canadian securities laws (the “Private Placement” and, together with the LIFE Offering, the “Offerings”). Warrants will not be issued to purchasers under the Private Placement.

    The First Tranche Closing was completed under the Private Placement.

    Prairie Provident’s Top Tier Basal Quartz Play in Michichi: A Unique Publicly Traded BQ Junior

    Prairie Provident has established its Basal Quartz (“BQ”) play in the Michichi core area as a significant growth driver, supported by robust well economics, an extensive drilling inventory, and strategic infrastructure. The Company has a land position of approximately 153,000 net acres (239 net sections) in Michichi, of which it has identified over 40 horizontal BQ drilling opportunities, providing ample room for growth. Publicly-available industry data indicates that production along the BQ trend has surpassed 40,000 boe/d (77% liquids), with operators having drilled over 100 horizontal wells in 2024 alone, further de-risking the play. Offset competitor wells in analogous zones have demonstrated peak production rates exceeding 1,200 bbl/d, further validating the play’s potential. The BQ play offers attractive returns and payouts, making it, in the Company’s view, one of the most competitive plays in the Western Canadian Sedimentary Basin (WCSB). Based on internal estimates, the Company’s BQ wells have the potential to deliver impressive internal rates of return greater than 300% (based on WTI US$70/bbl and AECO C$3.00/mcf) with payout periods of approximately eight months or less.

    Additional Financing Details

    As previously disclosed, PCEP and certain directors and officers of the Company intended to participate in the Offerings in an aggregate amount of approximately $7,350,000 (collectively, the “Lead Orders”). The First Tranche Closing represents $4,800,000 of this participation, with the remaining $2,550,000 in Lead Orders provided for through director commitments and the Company’s subscription agreement with PCEP. Prairie Provident expects $200,000 of the remaining Lead Orders to be fulfilled under the Private Placement and $2,350,000 to be fulfilled under the LIFE Offering. All subscriptions on account of Lead Orders are subject to insider participation limits under applicable Toronto Stock Exchange rules.

    Prairie Provident intends to use the net proceeds from the Offerings to drill two additional Basal Quartz horizontal wells in the first quarter of 2025 and for working capital and general corporate purposes, including expenses related to the Offerings.

    The second and final tranche of the Offerings is expected to occur on or about February 27, 2025.

    For further details regarding the Offerings, please refer to the Company’s press release dated February 11, 2025.

    There is an offering document related to the LIFE Offering that can be accessed under the Company’s issuer profile at www.sedarplus.ca and on the Company’s website at www.ppr.ca. Prospective investors should read this offering document before making an investment decision.

    The Common Shares issued in the First Tranche Closing are subject to a statutory hold period of four months plus a day from February 20, 2025.

    In connection with the First Tranche Closing, the Company paid the Agents an advisory fee equal to 1% of gross proceeds.

    This news release does not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of, any securities in the United States or to or for the account or benefit of U.S. persons or persons in the United States, or in any other jurisdiction in which, or to or for the account or benefit of any other person to whom, any such offer, solicitation or sale would be unlawful. These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons or persons in the United States except in compliance with, or pursuant to an available exemption from, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. “United States” and “U.S. person” have the meanings ascribed to them in Regulation S under the U.S. Securities Act.

    Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions

    PCEP’s purchase of Common Shares under the First Tranche Closing did, and the further Lead Order subscriptions as contemplated above will, constitute ‘related party transactions’ for the Company within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”), which are exempt from the formal valuation and minority approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(a) thereof on the basis that neither the fair market value of the subject matter of the transactions, nor the fair market value of the consideration for the transactions, insofar as they involve interested parties, exceeds 25% of the Company’s market capitalization as calculated for purposes of MI 61-101. Prairie Provident did not file a material change report 21 days before completion of the First Tranche Closing and, if applicable, will not be filing one at least 21 days before the anticipated closing date of the second and final tranche of the Offerings, as the overall transaction timetable is less than 21 days from commencement to closing and it is commercially impracticable to delay the process.

    ABOUT PRAIRIE PROVIDENT

    Prairie Provident is a Calgary-based company engaged in the exploration and development of oil and natural gas properties in Alberta, including a position in the emerging Basal Quartz trend in the Michichi area of Central Alberta.

    For further information, please contact:

    Dale Miller, Executive Chairman
    Phone: (403) 292-8150
    Email:  info@ppr.ca

    Forward-Looking Information

    This news release contains certain statements (“forward-looking statements”) that constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future performance, events or circumstances, are based upon internal assumptions, plans, intentions, expectations and beliefs, and are subject to risks and uncertainties that may cause actual results or events to differ materially from those indicated or suggested therein. All statements other than statements of current or historical fact constitute forward-looking statements. Forward-looking statements are typically, but not always, identified by words such as “anticipate”, “believe”, “expect”, “intend”, “plan”, “budget”, “forecast”, “target”, “estimate”, “propose”, “potential”, “project”, “seek”, “continue”, “may”, “will”, “should” or similar words suggesting future outcomes or events or statements regarding an outlook.

    Without limiting the foregoing, this news release contains forward-looking statements pertaining to: Basal Quartz drilling opportunities, including estimated payout periods on potential Basal Quartz wells; completion of the second and final tranche of the Offerings, the expected closing date thereof, and fulfillment of the Lead Orders therein; the intended use of proceeds from the Offerings; and the intended number of Basal Quartz wells that are anticipated to be drilled by the Company in the first quarter of 2025.

    Forward-looking statements are based on a number of material factors, expectations or assumptions of Prairie Provident which have been used to develop such statements, but which may prove to be incorrect. Although the Company believes that the expectations and assumptions reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements, which are inherently uncertain and depend upon the accuracy of such expectations and assumptions. Prairie Provident can give no assurance that the forward-looking statements contained herein will prove to be correct or that the expectations and assumptions upon which they are based will occur or be realized. Actual results or events will differ, and the differences may be material and adverse to the Company. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: results from drilling and development activities; consistency with past operations; the quality of the reservoirs in which Prairie Provident operates and continued performance from existing wells (including with respect to production profile, decline rate and product type mix); the continued and timely development of infrastructure in areas of new production; the accuracy of the estimates of Prairie Provident’s reserves volumes; future commodity prices; future operating and other costs; future USD/CAD exchange rates; future interest rates; continued availability of external financing and internally generated cash flow to fund Prairie Provident’s current and future plans and expenditures, with external financing on acceptable terms; the impact of competition; the general stability of the economic and political environment in which Prairie Provident operates; the general continuance of current industry conditions; the timely receipt of any required regulatory approvals; the ability of Prairie Provident to obtain qualified staff, equipment and services in a timely and cost efficient manner; drilling results; the ability of the operator of the projects in which Prairie Provident has an interest in to operate the field in a safe, efficient and effective manner; field production rates and decline rates; the ability to replace and expand oil and natural gas reserves through acquisition, development and exploration; the timing and cost of pipeline, storage and facility construction and expansion and the ability of Prairie Provident to secure adequate product transportation; the regulatory framework regarding royalties, taxes and environmental matters in the jurisdictions in which Prairie Provident operates; and the ability of Prairie Provident to successfully market its oil and natural gas production.

    The forward-looking statements included in this news release are not guarantees of future performance or promises of future outcomes and should not be relied upon. Such statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation: reduced access to external debt financing; higher interest costs or other restrictive terms of debt financing; changes in realized commodity prices; changes in the demand for or supply of Prairie Provident’s products; the early stage of development of some of the evaluated areas and zones; the potential for variation in the quality of the geologic formations targeted by Prairie Provident’s operations; unanticipated operating results or production declines; changes in tax or environmental laws, royalty rates or other regulatory matters; the imposition of any tariffs or other restrictive trade measures or countermeasures affecting trade between Canada and the United States; changes in development plans of Prairie Provident or by third party operators; increased debt levels or debt service requirements; inaccurate estimation of Prairie Provident’s oil and reserves volumes; limited, unfavourable or a lack of access to capital markets; increased costs; a lack of adequate insurance coverage; the impact of competitors; and such other risks as may be detailed from time-to-time in Prairie Provident’s public disclosure documents (including, without limitation, those risks identified in this news release and Prairie Provident’s current Annual Information Form dated April 1, 2024 as filed with Canadian securities regulators and available from the SEDAR+ website (www.sedarplus.ca) under Prairie Provident’s issuer profile).

    The forward-looking statements contained in this news release speak only as of the date of this news release, and Prairie Provident assumes no obligation to publicly update or revise them to reflect new events or circumstances, or otherwise, except as may be required pursuant to applicable laws. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

    Oil and Gas Reader Advisories

    Barrels of Oil Equivalent

    The oil and natural gas industry commonly expresses production volumes and reserves on a “barrel of oil equivalent” basis (“boe”) whereby natural gas volumes are converted at the ratio of six thousand cubic feet to one barrel of oil. The intention is to sum oil and natural gas measurement units into one basis for improved analysis of results and comparisons with other industry participants. A boe conversion ratio of six thousand cubic feet to one barrel of oil is based on an energy equivalency conversion method primarily applicable at the burner tip. It does not represent a value equivalency at the wellhead nor at the plant gate, which is where Prairie Provident sells its production volumes. Boe’s may therefore be a misleading measure, particularly if used in isolation. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different from the energy equivalency ratio of 6:1, utilizing a 6:1 conversion ratio may be misleading as an indication of value.

    Analogous Information

    Information in this news release regarding initial production rates from offset wells drilled by other industry participants located in geographical proximity to the Company’s lands may constitute “analogous information” within the meaning of National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (NI 51-101). This information is derived from publicly available information sources (as at the date of this news release) that Prairie Provident believes (but cannot confirm) to be independent in nature. The Company is unable to confirm that the information was prepared by a qualified reserves evaluator or auditor within the meaning of NI 51-101, or in accordance with the Canadian Oil and Gas Evaluation (COGE) Handbook. Although the Company believes that this information regarding geographically proximate wells helps management understand and define reservoir characteristics of lands in which Prairie Provident has an interest, the data relied upon by the Company may be inaccurate or erroneous, may not in fact be indicative or otherwise analogous to the Company’s land holdings, and may not be representative of actual results from wells that may be drilled or completed by the Company in the future.

    Potential Drilling Opportunities vs Booked Locations

    This news release refers to potential drilling opportunities and booked locations. Unless otherwise indicated, references to booked locations in this news release are references to proved drilling locations or probable drilling locations, being locations to which Sproule Associated Limited (Sproule) attributed proved or probable reserves in its most recent year-end evaluation of Prairie Provident’s reserves data, effective December 31, 2023. Sproule’s year‑end evaluation was in accordance with NI 51-101 and, pursuant thereto, the COGE Handbook. References in this news release to potential drilling opportunities are references to locations for which there are no attributed reserves or resources, but which the Company internally estimates can be drilled based on current land holdings, industry practice regarding well density, and internal review of geologic, geophysical, seismic, engineering, production and resource information. There is no certainty that the Company will drill any particular locations, or that drilling activity on any locations will result in additional reserves, resources or production. Locations on which Prairie Provident in fact drills wells will ultimately depend upon the availability of capital, regulatory approvals, seasonal restrictions, commodity prices, costs, actual drilling results, additional reservoir information and other factors. There is a higher level of risk associated with locations that are potential drilling opportunities and not booked locations. Prairie Provident generally has less information about reservoir characteristics associated with locations that are potential drilling opportunities and, accordingly, there is greater uncertainty whether wells will ultimately be drilled in such locations and, if drilled, whether they will result in additional reserves, resources or production.

    Type Well Information

    Information contained in this news release regarding estimated payout periods and internal rate of return (IRR) on potential Basal Quartz wells is based on the Company’s internally-defined type wells. Type well information reflects Prairie Provident’s expectations and experience in relation to wells of the indicated types, including with respect to costs, production and decline rates. There is no assurance that actual well-related results (including payout periods and IRR) will be in accordance with those suggested by the type well information. Actual results will differ, and the difference may be material.

    Payout

    Prairie Provident considers payout on a well to be achieved when future net revenue from the well is equal to the capital costs to drill, complete, equip and tie-in the well based on project economics. Forecasted payout periods disclosed in this news release are based on the following commodity price and CAD/USD exchange rate assumptions: USD $70.00/bbl WTI, CAD $3.00/Mcf AECO, CAD $1.35-to-USD $1.00.

    Initial Production Rates

    This news release discloses initial production rates for certain wells as indicated. Initial production rates are not necessarily indicative of long-term well or reservoir performance or of ultimate recovery. Actual results will differ from those realized during an initial short-term production period, and the difference may be material.

    Non-GAAP Measures

    This news release uses the financial measure internal rate of return (IRR). IRR is a non-GAAP financial measure within the meaning of applicable Canadian securities laws , which does not have a standardized or prescribed meaning under International Financial Reporting Standards (IFRS) and may not be comparable to similar measures presented by other issuers. Investors are cautioned that non-GAAP measures should not be construed as a substitute or an alternative to net income or cash flows from operating activities as determined in accordance with IFRS. IRR is a measure used in financial analysis to estimate the profitability of potential investments and/or projects, and means the discount rate that makes the net present value equal to zero in a discounted cash flow analysis.

    The MIL Network –

  • MIL-OSI: Leveraging Artificial Intelligence (AI) for Drone Operations Market Leading to Multi-Billion Dollar Revenue Opportunity

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., Feb. 20, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – A report from Verified Market Research said that the AI In Drone Market size is projected to reach USD 206.9 Billion by 2031, growing at a CAGR of 32.4% during the forecast period to 2031. The report said: “Developments in Technology: One of the main factors propelling the artificial intelligence (AI) market for drones is the quick development of AI technologies. Drone capabilities are improved by innovations like computer vision, machine learning, and real-time data processing, which enable advanced decision-making and autonomous navigation. These developments make it possible for drones to more effectively carry out difficult jobs like infrastructure inspection, precision farming, and search and rescue missions. Furthermore, a variety of businesses can incorporate drones into their operations as AI software becomes more widely available and reasonably priced, expanding the market. Demand in the industry is driven by the ongoing improvement of AI algorithms, which guarantee that drones can do ever-more-difficult tasks. Industry Acceptance: One of the main factors driving the market is the growing use of drones in a variety of sectors, such as construction, logistics, surveillance, and agriculture. Businesses are increasingly incorporating AI-enabled drones into their operations as they realize the efficiency, cost savings, and safety enhancements these technologies provide. AI drones improve crop monitoring and resource management in agriculture and expedite delivery procedures in logistics. Demand is further fueled by this cross-industry applicability, as businesses look to automation and improved data insights to gain a competitive edge. Drones’ increasing acceptance as vital instruments in contemporary operations propels market expansion and encourages innovation in the AI space. Active Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), Rigetti Computing, Inc. (NASDAQ: RGTI), AeroVironment, Inc. (NASDAQ: AVAV), Unusual Machines (NYSE: UMAC), Safe Pro Group Inc. (NASDAQ: SPAI).

    Verified Market Research continued: “Cost Cutting: The market is expanding due to the declining costs of drone technology and AI integration. Drones and related AI software are becoming more affordable as manufacturers develop and competition rises, opening up these technologies to a wider variety of consumers. Drone adoption is made possible by lower costs, which makes it easier for small and medium-sized businesses to enter the market. Cost savings are also facilitated by the adoption of open-source software and improved manufacturing process efficiency. The market is seeing faster adoption rates as affordability rises, which prompts more investment in AI capabilities that boost drone applications and functions. The government, commercial, and military sectors are the main end-users that divide the AI In Drone Market. Recognizing that different businesses have diverse needs and use drones for different purposes, this division highlights the uses of AI-powered drones across a range of fields. The government sector uses AI to improve data analysis, automate repetitive jobs, and increase decision-making in areas including disaster response, surveillance, law enforcement, and agricultural monitoring. Drones can now swiftly and effectively process enormous volumes of data thanks to artificial intelligence (AI), which is especially useful for government tasks requiring real-time information, such as monitoring emergencies or evaluating and handling public safety issues. The commercial AI drone market sector encompasses a wide range of applications, such as media, construction, logistics, and agriculture.”

    ZenaTech (NASDAQ:ZENA) Quantum Computing “Sky Traffic” Project Demonstrates High Accuracy in Initial Testing Leading to Expansion of Team and AI Drone Applications for Commercial and Defense – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a technology company specializing in AI (Artificial Intelligence) drones, Drone as a Service (DaaS), enterprise SaaS and Quantum Computing solutions, announces positive results from initial testing and an update on its Quantum Computing Sky Traffic project. An initial test using the Company’s AI algorithms and quantum computing to predict weather has resulted in a high level of accuracy for the parameters tested including actual temperatures versus predicted temperatures in the test which used 2016 data.

    Due in part to these encouraging results, ZenaTech is now growing its internal team over the next two months. As part of the ramp up, the Company is adding additional quantum, AI and hardware engineers, and optimization specialists and is engaged in recruiting staff from physics facilities at international universities, including researchers, instructors, and Ph.D. candidates.

    “The Sky Traffic project leverages AI and quantum computing to process vast data streams to improve the accuracy and speed of weather forecasting that can also apply to the innovation of many other commercial and defense applications utilizing drones. Our hiring strategy focuses on assembling a multidisciplinary team of quantum and AI specialists, and hardware and aerospace engineers to help us revolutionize autonomous drones. By combining quantum algorithms with advanced machine learning, we can optimize navigation, decision-making, and real-time data processing for next-generation aerial intelligence,” said CEO Shaun Passley, Ph.D.

    ZenaTech launched the Sky Traffic project in November 2024, which will utilize its AI drones, quantum computing, and specialized quantum and AI teams to develop and test advanced applications for traffic management, weather forecasting, wildfire management and defense applications using large datasets, Amazon Web Services, and computing devices and platforms.

    AI Drones are used in weather forecasting to collect real-time atmospheric data from hard-to-reach areas, such as storm systems or remote regions, providing valuable input for weather models. Quantum computers can then analyze this vast and complex data much faster and more accurately, improving weather predictions and enhancing the ability to forecast extreme events like hurricanes, tornadoes, or wildfires.

    AI and quantum computing can work together to make defense drones smarter, faster, and more efficient using a single drone or a swarm of multiple drones. AI helps drones analyze data, recognize objects, and make decisions on their own, while quantum computing can process massive amounts of information much faster than regular computers. For example, a defense drone using AI can detect enemy movement, but adding quantum computing allows it to analyze complex battlefield data instantly and find the best flight path or strategy in real time. This combination improves reaction speed, mission accuracy, and overall drone performance, making them more effective for surveillance, reconnaissance, and security operations.

    Quantum computing is an emergent field of cutting-edge computer science harnessing the unique qualities of quantum mechanics to solve problems beyond the ability of even the most powerful classical computers of today, to process massively complicated mathematical problems and data at orders of magnitude faster speeds.

    The ZenaDrone 1000 is a multifunction autonomous drone, in a VTOL (Vertical Takeoff and Landing) quadcopter design with eight rotors; it is considered a medium-sized drone measuring 12X7 feet in size. It is designed for stable flight, maneuverability, heavy lift capabilities up to 40 kilos, incorporating innovative software technology, AI, sensors, and purpose-built attachments, along with compact and rugged hardware engineered for industrial and defense use for a variety of inspection, surveillance or tracking applications. Continued… Read this full release by visiting: https://www.financialnewsmedia.com/news-zena/

    Other recent developments in the markets include:

    QphoX B.V., a Dutch quantum technology startup that is developing leading frequency conversion systems for quantum applications, Rigetti Computing, Inc. (NASDAQ: RGTI), a pioneer in full-stack quantum-classical computing, and Qblox, a leading innovator in quantum control stack development, recently announced that their joint research demonstrating the ability to readout superconducting qubits with an optical transducer was published in Nature Physics.

    Quantum computing has the potential to drive transformative breakthroughs in fields such as advanced material design, artificial intelligence, and drug discovery. Of the quantum computing modalities, superconducting qubits are a leading platform towards realizing a practical quantum computer given their fast gate speeds and ability to leverage existing semiconductor industry manufacturing techniques. However, fault-tolerant quantum computing will likely require 10,000 to a million physical qubits. The sheer amount of wiring, amplifiers and microwave components required to operate such large numbers of qubits far exceeds the capacity of modern-day dilution refrigerators, a core component of a superconducting quantum computing system, in terms of both space and passive heat load.

    AeroVironment, Inc. (NASDAQ: AVAV) recently announced the launch of the JUMP® 20-X, a next-generation, modular Group 3 uncrewed aircraft system (UAS) designed to meet the dynamic demands of modern warfare. Setting a new benchmark for autonomous maritime operations, the JUMP 20-X delivers unrivaled versatility, efficiency, and precision in contested and complex environments.

    Unveiled at the 2025 International Defence Exhibition & Conference (IDEX), the JUMP 20-X is a vertical takeoff and landing (VTOL) medium uncrewed aircraft system (MUAS) engineered to revolutionize shipboard UAS operations. With an advanced heavy-fuel engine capable of running on multiple fuel types, JUMP 20-X enhances operational flexibility, simplifies refueling logistics, and ensures mission adaptability across diverse maritime and expeditionary environments.

    Unusual Machines (NYSE:UMAC) recently announced that its Fat Shark Aura FPV Camera has been added to the U.S. Defense Department’s Defense Innovation Unit’s (DIU) Blue UAS Framework. It is the only camera on the Blue UAS list purpose-built for first person view (“FPV”) applications, providing a high-performance, NDAA-compliant option for defense and government users.

    This approval marks another step forward in Unusual Machines’ mission to supply NDAA-compliant FPV components for both commercial and defense applications. The Fat Shark Aura FPV Camera joins the Rotor Riot Brave F7 Flight Controller and Brave 55A ESC, both of which have already been approved under the Blue UAS Framework.

    Safe Pro Group Inc. (NASDAQ: SPAI) recently announced that its Safe Pro AI subsidiary reached its latest milestone having processed over 1,000,000 real-world images and 20,000 explosive threat detections in Ukraine utilizing its patented AI-powered small object threat detection and drone image analysis and mapping technology.

    Sourced from real-world aerial imagery collected in Ukraine by organizations utilizing commercially available drones over the past two years, SafePro’s latest generation of small object detection models include one of the largest and widest arrays of labeled imagery of landmines, unexploded ordnance (UXO) and explosive remnants of war (ERW) in existence today. Supported by the hyper scale of the Amazon Web Services (AWS) cloud, this robust dataset enables the patented SpotlightAI™ ecosystem to rapidly detect over 150 types of surface-level explosive hazards, enabling government and humanitarian organizations to quickly assess threats on the ground with sub-centimeter precision. The Company intends to utilize its newly enhanced models to power new threat detection solutions designed for expanded domestic and international applications in defense, public safety and commercial markets.

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    The MIL Network –

  • MIL-OSI Global: Trump’s move to closer ties with Russia does not mean betrayal of Ukraine, yet – in his first term, Trump was pretty tough on Putin

    Source: The Conversation – USA – By Tatsiana Kulakevich, Associate Professor of Instruction in the School of Interdisciplinary Global Studies, University of South Florida

    Traditional Russian wooden nesting dolls depict U.S. President Donald Trump and Russian President Vladimir Putin at a gift shop in Moscow on Feb. 13, 2025. Tatyana Makeyeva/AFP via Getty Images

    The United States’ steadfast allegiance to Ukraine during that country’s three-year war against Russia appears to be quickly disintegrating under the Trump administration. President Donald Trump on Feb. 19, 2025, called Ukrainian President Volodymyr Zelenskyy “a dictator” and falsely blamed him for the war that Russia initiated as part of a land grab in the countries’ border regions.

    Zelenskyy, meanwhile, said on Feb. 19 that Trump is trapped in Russian President Vladimir Putin’s “disinformation space.”

    The intensifying bitterness comes as the U.S. and Russia started talks in Saudi Arabia, without including Ukraine, on how to end the conflict.

    The U.S. and Russia have long been adversaries, and the U.S., to date, has given Ukraine more than US$183 billion to help fight against Russia. But that funding came when Joe Biden was president. Trump does not appear to be similarly inclined toward Ukraine.

    Amy Lieberman, a politics editor at The Conversation U.S., spoke with Tatsiana Kulakevich, a scholar of Eastern European politics and international relations, to understand the implications of this sudden shift in U.S.-Russia policy under Trump.

    Kulakevich sees Trump’s moves that could be perceived as self-interested as instead part of a calculated strategy in preliminary discussions.

    An airplane passenger reads a Financial Times article about U.S. President Donald Trump and Russian President Vladimir Putin on Feb. 19, 2025.
    Horacio Villalobos Corbis/Corbis via Getty Images

    Can you explain the current dynamic between the U.S., Ukraine and Russia?

    People should not panic because the U.S. and Russia are only holding exploratory talks. We should not call them peace talks, per se, at least not yet. It was to be expected that Ukraine was not invited to the talks in Saudi Arabia because there is nothing to talk about yet. We don’t know what the U.S. and Russia are actually discussing besides agreeing to restore the normal functioning of each other’s diplomatic missions.

    People are perceiving the U.S. and Russia as being in love. However, Trump’s Russia policy has been more hawkish than often portrayed in the media. Looking at the record from the previous Trump administration, we can see that if something is not in the interests of the U.S., that is not going to be done. Trump does not do favors.

    He approved anti-tank missile sales to Ukraine in 2019. That same year, Trump withdrew from the Intermediate-Range Nuclear Forces Treaty, an agreement with Russia that limited what weapons each country could purchase, over Russian violations.

    In 2019, Trump also issued economic sanctions against a Russian ship involved in building the Nord Stream 2 gas pipeline. These sanctions tried to block Russia’s direct gas exports to Germany – this connection between Russia and Germany was seen by Ukraine as an economic threat.

    Based on Trump’s talks with Russia and remarks against Ukraine, it could seem like the U.S. and Russia are no longer adversaries. How do you perceive this?

    There are no clear indications that Russia and the U.S. have ceased to be adversaries. Despite Trump’s occasional use of terms like “friends” in diplomacy, his rhetoric often serves as a tactical maneuver rather than a genuine shift in alliances. A key example is his engagement with North Korea’s Kim Jong-un, where Trump alternated between flattery and threats to extract concessions.

    Even if the U.S. is meeting with Russia and the public narrative seems to say otherwise, strategically, abandoning Ukraine is not in the United States’ best interests. One reason why is because the U.S. turning away from Ukraine would make Russia happy and China happy. Trump has treated China as a primary threat to the U.S., and China has supported Putin’s invasion of Ukraine.

    U.S. Secretary of State Marco Rubio is also still saying that everyone, including Ukraine, will be at the table for eventual peace talks.

    The allegations that Russia was holding some information over Trump and blackmailing him started long before this presidential term and did not stop Trump from imposing countermeasures on Russia during his first term. The first Trump administration took more than 50 policy actions to counter Moscow, primarily in the form of public statements and sanctions.

    What does the U.S. gain from developing a diplomatic relationship with Russia?

    Trump is a transactional politician. American companies could profit from the U.S. aligning with Russia and Russian companies, as some Russian officials have said during the recent Saudi Arabia talks with the Trump administration. But the U.S. could also benefit economically from the Trump’s administration’s proposed deal with Ukraine to give the U.S. half of Ukraine’s estimated $11.5 trillion in rare earth minerals.

    Zelenskyy rejected that proposal this week, saying it does not come with the promise that the U.S. will continue to give security guarantees to Ukraine.

    Historically, since the Cold War, there has been a diplomatic triangle between the Soviet Union – later Russia – China and the U.S. And there has always been one side fighting against the two other sides. Trump trying to develop a better diplomatic relationship with Russia might mean he is trying to distance Russia from China.

    A similar dynamic is playing out between the U.S. and Belarus’ authoritarian leader, Alexander Lukashenko, a co-aggressor in the war in Ukraine. Lukashenko is close with both Russia and China. The U.S. administration is looking to relax sanctions on Belarusian banks and exports of potash, a key ingredient in fertilizer, in exchange for the release of Belarusian political opposition members who are imprisoned. There are over 1,200 political prisoners in Belarus. This U.S. foreign policy strategy is aimed at providing Lukashenko with room to grow less economically dependent on Russia and China.

    A worker clears snow from a cemetery in Kramatorsk, Ukraine, on Feb. 17, 2025. More than 46,000 Ukrainian soldiers have died in combat since Russia launched a full-scale invasion in February 2022.
    Pierre Crom/Getty Images

    Is this level of collaboration between the U.S. and Russia unprecedented?

    While U.S.-Russia relations are often defined by rivalry, history shows that pragmatic cooperation has occurred when both nations saw mutual benefits – whether this relates to arms control, space, counterterrorism, Arctic affairs or health.

    Moreover, the U.S. has always prioritized its own interests in its relationship with Russia. For example, the U.S. and its allies imposed sanctions on Russia’s uranium and nickel industries only in May 2024, over two years after Russia’s full-scale invasion of Ukraine in February 2022. This was due to the United States’ strategic economic dependencies and concerns about market stability if it sanctioned uranium and nickel.

    Even after Russia invaded Crimea – an area of Ukraine that Russia claims as its own – in 2014 and provided support for Russian separatists in Ukraine’s Donbass region, the U.S. and other Western countries imposed largely symbolic sanctions. This included freezing assets of Russian individuals, restricting some financial transactions and limiting Russia’s access to Western technology.

    We should also notice that Trump in January 2025 promised to sanction Russia if it does not end the Ukraine war. The U.S. still has not removed any existing sanctions, which signals its commitment to a tough stance on Russia, despite perceptions of a close relationship between Trump and Putin.

    Given Trump’s transactional approach to foreign policy, his tough rhetoric on Zelenskyy could be a deliberate negotiation strategy aimed at pressuring Ukraine into making greater concessions in potential peace talks, rather than signaling abandonment.

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

    – ref. Trump’s move to closer ties with Russia does not mean betrayal of Ukraine, yet – in his first term, Trump was pretty tough on Putin – https://theconversation.com/trumps-move-to-closer-ties-with-russia-does-not-mean-betrayal-of-ukraine-yet-in-his-first-term-trump-was-pretty-tough-on-putin-250359

    MIL OSI – Global Reports –

  • MIL-OSI Global: How allies have helped the US gain independence, defend freedom and keep the peace – even as the US did the same for our friends

    Source: The Conversation – USA – By Donald Heflin, Executive Director of the Edward R. Murrow Center and Senior Fellow of Diplomatic Practice, The Fletcher School, Tufts University

    French Gen. Jean de Rochambeau and American Gen. George Washington giving the last orders in October 1781 for the battle at Yorktown, where the British defeat ended the War of Independence. ‘Siege of Yorktown’ painting, Ann Ronan Pictures/Print Collector/Getty Images.

    Make Canada angry. Make Mexico angry. Make the members of NATO angry.

    During the first few weeks of the second Trump administration, President Donald Trump, Vice President JD Vance and Defense Secretary Pete Hegseth said a lot of things about longtime allies that caused frustration and outright friction among the leaders of those countries.

    Trump and Vance indeed appear to disdain close alliances, favoring an America First approach to the world. A New York Times headline characterized the relationship between the U.S. and Europe now as “A Strained Alliance.”

    As a former diplomat, I’m aware that how the U.S. treats its allies has been a crucial question in every presidency, since George Washington became the country’s first chief executive. On his way out of that job, Washington said something that Trump, Vance and their fellow America First advocates would probably embrace.

    In what’s known as his “Farewell Address,” Washington warned Americans against “entangling alliances.” Washington wanted America to treat all nations fairly, and warned against both permanent friendships and permanent enemies.

    The irony is that Washington would never have become president without the assistance of the not-yet-United-States’ first ally, France.

    In 1778, after two years of brilliant diplomacy by Benjamin Franklin, the not-yet-United States and the Kingdom of France signed a treaty of alliance as the American Colonies struggled to win their war for independence from Britain.

    France sent soldiers, money and ships to the American revolutionaries. Within three years, after a major intervention by the French fleet, the battle of Yorktown in 1781 effectively ended the war and America was independent.

    Isolationism, then war

    American political leaders largely heeded Washington’s warning against alliances throughout the 1800s. The Atlantic Ocean shielded the young nation from Europe’s problems and many conflicts, and America’s closest neighbors had smaller populations and less military might.

    Aside from the War of 1812, in which the U.S. fought the British, America largely found itself protected from the outside world’s problems.

    That began to change when Europe descended into the brutal trench warfare of World War I.

    Initially, American politicians avoided becoming involved. What would today be called an isolationist movement was strong, and its supporters felt that the war in Europe was being waged for the benefit of big business.

    But it was hard for the U.S.to maintain neutrality. German submarines sank ships crossing the Atlantic carrying American passengers. The economies of some of America’s biggest trading partners were in shreds; the democracies of Britain, France and other European countries were at risk.

    A Boston newspaper headline in 1915 blares the news of a British ocean liner sunk by a German torpedo.
    Serial and Government Publications Division, Library of Congress

    President Woodrow Wilson led the United States into the war in 1917 as an ally of the Western European nations. When he asked Congress for a declaration of war, Wilson touted the value of like-minded allies, saying, “A steadfast concert for peace can never be maintained except by a partnership of democratic nations.” The war was over within 16 months.

    Immediately after the war, the Allies – led by the U.S., France and Britain – stayed together to craft the peace agreements, feed the war-ravaged parts of Europe and intervene in Russia after the Communist Revolution there.

    Prosperity came along with the peace, helping the U.S. quickly develop into a global economic power.

    However, within a few years, American politicians returned to traditional isolationism in political and military matters and continued this attitude well into the 1930s. The worldwide Great Depression that began in 1929 was blamed on vulnerabilities in the global economy, and there was a strong sentiment among Americans that the U.S. should fix its internal problems rather than assist Europe with its problems.

    Alliance counters fascism

    As both Hitler and the Japanese Empire began to attack their neighbors in the late 1930s, it became clear to President Franklin Roosevelt and other American military and political leaders that the U.S. would get caught up in World War II. If nothing else, airplanes had erased America’s ability to hide behind the Atlantic Ocean.

    Though public opinion was divided, the U.S. began sending arms and other assistance to Britain and quietly began military planning with London. This was despite the fact that the U.S. was formally neutral, as the Roosevelt administration was pushing the limits of what a neutral nation can do for friendly nations without becoming a warring party.

    In January of 1941, Roosevelt gave his annual State of the Union speech to Congress. He appeared to prepare the country for possible intervention – both on behalf of allies abroad and for the preservation of American democracy:

    “The future and the safety of our country and of our democracy are overwhelmingly involved in events far beyond our borders. Armed defense of democratic existence is now being gallantly waged in four continents. If that defense fails, all the population and all the resources of Europe, and Asia, and Africa and Australasia will be dominated by conquerors. In times like these it is immature – and incidentally, untrue – for anybody to brag that an unprepared America, single-handed, and with one hand tied behind its back, can hold off the whole world.”

    When the Japanese attacked Hawaii in 1941 and Hitler declared war on the United States, America quickly entered World War II in an alliance with Britain, the Free French and others.
    Throughout the war, the Allies worked as a team on matters large and small. They defeated Germany in three and half years and Japan in less than four.

    As World War II ended, the wartime alliance produced two longer-term partnerships built on the understanding that working together had produced a powerful and effective counter to fascism.

    A ‘news bulletin’ from August 1945 issued by a predecessor of the United Nations.
    Foreign Policy In Focus

    Postwar alliances

    The first of these alliances is the North Atlantic Treaty Organization, or NATO. The original members were the U.S., Canada, Britain, France and others of the wartime Allies. There are now 32 members, including Poland, Hungary and Turkey.

    The aims of NATO were to keep the peace in Europe and contain the growing Communist threat from the Soviet Union. NATO’s supporters feel that, given that the wars in the former Yugoslavia in the 1990s and in the Ukraine today are the only major conflicts in Europe in 80 years, the alliance has met its goals well. And NATO troops went to Afghanistan along with the U.S. military after 9/11.

    The other institution created by the wartime Allies is the United Nations.

    The U.N. is many things – a humanitarian aid organization, a forum for countries to raise their issues and a source of international law.

    However, it is also an alliance. The U.N. Security Council on several occasions authorized the use of force by members, such as in the first Gulf War against Iraq. And it has the power to send peacekeeping troops to conflict areas under the U.N. flag.

    Other U.S. allies with treaties or designations by Congress include Australia, New Zealand, Japan, Israel, three South American countries and six in the Middle East.

    In addition to these formal alliances, many of the same countries created institutions such as the World Bank, the International Monetary Fund, the Organization of American States and the European Union. The U.S. belongs to all of these except the European Union. During my 35-year diplomatic career, I worked with all of these institutions, particularly in efforts to stabilize Africa. They keep the peace and support development efforts with loans and grants.

    Admirers of this postwar liberal international order point to the limited number of major armed conflicts during the past 80 years, the globalized economy and international cooperation on important matters such as disease control and fighting terrorism.
    Detractors point to this system’s inability to stop some very deadly conflicts, such as Vietnam or Ukraine, and the large populations that haven’t done well under globalization as evidence of its flaws.

    The world would look dramatically different without the Allies’ victories in the two World Wars, the stable worldwide economic system and NATO’s and the U.N.’s keeping the world relatively peaceful.

    But the value of allies to Americans, even when they benefit from alliances, appears to have shifted between George Washington’s attitude – avoid them – and that of Franklin D. Roosevelt – go all in … eventually.

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

    – ref. How allies have helped the US gain independence, defend freedom and keep the peace – even as the US did the same for our friends – https://theconversation.com/how-allies-have-helped-the-us-gain-independence-defend-freedom-and-keep-the-peace-even-as-the-us-did-the-same-for-our-friends-248839

    MIL OSI – Global Reports –

  • MIL-OSI: NANO Nuclear Energy to Present Keynote Speech and Announced as the Diamond Sponsor of the SMR Canada Summit 2025

    Source: GlobeNewswire (MIL-OSI)

    Small Modular Reactor (SMR) Canada Summit 2025 will be held in Strathcona County, Alberta on March 4-5, 2025

    New York, N.Y., Feb. 20, 2025 (GLOBE NEWSWIRE) — NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear” or “the Company”), a leading advanced nuclear energy and technology company focused on developing clean energy solutions, today announced that it is the Diamond Sponsor of the upcoming SMR Canada Summit 2025, to be held in Strathcona County, Alberta on March 4-5, 2025. Chief Executive Officer and Head of Reactor Development James Walker will lead a keynote presentation titled “Finding Opportunities in the Resurgent Nuclear Energy Industry” on Tuesday, March 4th, at 9:30am.

    SMR Canada Summit serves as a vital platform for educating and informing local entrepreneurs, government officials, and the broader community about the potential of Alberta, Saskatchewan and British Columbia as pioneering sites for nuclear development in Western Canada. The Summit features in-depth discussions on a variety of critical topics, including site development, safety protocols, transportation logistics, cutting-edge technology, community engagement strategies, economic impacts, and workforce development, bringing together all the relevant stakeholders including technology suppliers, EPC’s, governments, regulators, utilities, First Nations, NGO’s and end users.

    By bringing together diverse stakeholders from across Canada, the event not only provides valuable insights but also fosters a well-informed and engaged community prepared to participate in and support the responsible growth of nuclear energy in the region.

    “The Canadian government has shown considerable support for advanced nuclear technologies as the country strives to achieve 100% net-zero carbon electricity by 2050,” said Jay Yu, Founder and Chairman of NANO Nuclear Energy. “This summit reflects the nation’s commitment to fostering innovation and the eventual deployment of small modular and micro reactor energy systems. We’re pleased to play a role in driving these efforts forward with our high technology readiness level KRONOS MMR™ reactor energy system and the continuation of proactive discussions with the Canadian National Laboratory and the Canadian Nuclear Safety Commission.”

    The recently acquired KRONOS MMR™ energy system was the first small modular reactor to enter the Canadian Nuclear Safety Commission’s (CNSC) formal licensing review. Following the close of this acquisition, NANO Nuclear has focused on reestablishing and advancing discussions with the CNSC to ensure compliance with all relevant regulations and to move the energy system into the next phase of review.

    Figure 1 – NANO Nuclear Energy Inc. Announced as the Diamond Sponsor of the SMR Canada Summit 2025, to be held in Strathcona County, Alberta on March 4-5, 2025.

    “This summit will play a pivotal role in fostering a robust nuclear energy industry nationwide and I’m thrilled to engage with Canada’s leading professionals,” said James Walker, Chief Executive Officer and Head of Reactor Development of NANO Nuclear Energy. “NANO Nuclear aims to establish itself as the premiere small modular and micro reactor innovator in Canada. Our acquisition of KRONOS MMR™ energy system positions us to take an active role in the country’s expanding energy sector, paving the way for high-level discussions with Canadian regulators and laboratories integral to meeting Canada’s ambitious clean-energy goals. I look forward to delivering a keynote address to some of the most knowledgeable and dedicated experts in Canada’s nuclear sector and collaborating with them to establish the nation as a leader in advanced energy technologies.”

    About NANO Nuclear Energy, Inc.

    NANO Nuclear Energy Inc. (NASDAQ: NNE) is an advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across five business lines: (i) cutting edge portable and other microreactor technologies, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation, (iv) nuclear applications for space and (v) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.

    Led by a world-class nuclear engineering team, NANO Nuclear’s reactor products in development include “ZEUS”, a solid core battery reactor, and “ODIN”, a low-pressure coolant reactor, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors. NANO Nuclear is also developing patented stationary KRONOS MMR™ Energy System and space focused, portable LOKI MMR™.

    Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, is led by former executives from the largest transportation company in the world aiming to build a North American transportation company that will provide commercial quantities of HALEU fuel to small modular reactors, microreactor companies, national laboratories, military, and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. Assuming development and commercialization, AFT is expected to form part of the only vertically integrated nuclear fuel business of its kind in North America.

    HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.

    NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear’s developing micronuclear reactor technology in space. NNS is focusing on applications such as the LOKI MMR™ system and other power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon’s surface.

    For more corporate information please visit: https://NanoNuclearEnergy.com/

    For further NANO Nuclear information, please contact:

    Email: IR@NANONuclearEnergy.com
    Business Tel: (212) 634-9206

    PLEASE FOLLOW OUR SOCIAL MEDIA PAGES HERE:

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    Cautionary Note Regarding Forward Looking Statements

    This news release and statements of NANO Nuclear’s management in connection with this news release contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. These and other forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, which may be beyond our control. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”) or related state or non-U.S. nuclear fuel licensing submissions, (ii) risks related the development of new or advanced technology and the acquisition of complimentary technology or businesses, including difficulties with design and testing, cost overruns, regulatory delays, integration issues and the development of competitive technology, (iii) our ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology in the timelines we anticipate, if ever, (v) risks related to the impact of U.S. and non-U.S. government regulation, policies and licensing requirements, including by the DOE and the U.S. Nuclear Regulatory Commission, including those associated with the recently enacted ADVANCE Act, and (vi) similar risks and uncertainties associated with the operating an early stage business a highly regulated and rapidly evolving industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement, and NANO Nuclear therefore encourages investors to review other factors that may affect future results in its filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

    Attachment

    The MIL Network –

  • MIL-OSI: LPL Financial Launches Comprehensive Alternative Investment Platform

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, Feb. 20, 2025 (GLOBE NEWSWIRE) — LPL Financial LLC (Nasdaq:LPLA), a leader in the wealth management industry, announces the launch of LPL Alts Connect, a full-service platform designed to streamline the way financial advisors and their clients access and manage alternative investments.

    LPL Alts Connect is a centralized, digitized system that streamlines the purchasing process and provides tools such as prequalification, e-signature capabilities and the ability to send sales kits directly to clients. The platform complements an expanding product set that includes an array of prominent funds giving advisors more optionality to build diversified, non-correlated portfolios.

    Powered by SUBSCRIBE, the solution allows advisors in independent practices and institutions like banks and credit unions to better meet the increasingly complex planning needs of high-net-worth and ultra-high-net-worth investors.

    “With the launch of our new alternative investment platform, advisors have access to a shelf of tailored, institution-caliber opportunities that are aligned to the needs of high-net-worth and ultra-high-net-worth clients and designed to set advisors apart from the competition,” said Cheri Belski, Executive Vice President and Head of Investment Management Solutions for LPL. “As the expectations of investors continue to evolve, this platform will arm advisors with more sophisticated ways to serve their clients.”

    Key features of LPL Alts Connect include:

    • Digitization: E-Signature capability for streamlined transactions.
    • Transparency: Real-time order status updates on a user-friendly dashboard.
    • Centralization: A single platform for all alternative investment purchases.
    • Accessibility: Comprehensive fund information available at a click, with no permission required.
    • Prequalification: One-time setup for prequalification, eliminating the need to repeat the process for each sales kit request.
    • Direct Communication: Sales kits can be deployed directly to a client’s email.
    • Compliance Review: LPL Compliance reviews all documents before client signatures, ensuring regulatory adherence while reducing the number of times an order will need to be revised post client-signature.
    • Efficiency: Shorter turnaround times, with an average of under 14 days compared to 40 days previously.

    These features are complemented by educational resources for both advisors and investors to help navigate the landscape of alternative investments.

    In conjunction with this launch LPL has enhanced its middle office services through a relationship with SS&C. SS&C ALTSERVE™ improves custodial and reporting services, offering faster turnaround times for transitioning alternative investments between firms. LPL has also formed a dedicated team to support and educate advisors on these new services, rounding out their support in the alternative investment space.

    As part of LPL’s commitment to providing a comprehensive alternatives menu, LPL is expanding its long-standing relationship with iCapital to offer a suite of alternative investment products to LPL’s network of advisors and affiliated firms. This collaboration welcomes a tailored selection of iCapital’s funds to LPL’s curated menu alongside their market-leading diligence.

    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.

    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.

    Media Contact: 
    Media.relations@LPLFinancial.com 
    (402) 740-2047 

    Tracking #: 698805

    The MIL Network –

  • MIL-OSI: Fueled by Micron Mobile Solutions, Samsung Galaxy S25 Series Raises the Bar for AI Experiences

    Source: GlobeNewswire (MIL-OSI)

    BOISE, Idaho, Feb. 20, 2025 (GLOBE NEWSWIRE) — Micron Technology, Inc. (Nasdaq: MU) announced today that its industry-leading low-power double data rate 5X (LPDDR5X) memory and universal flash storage (UFS) 4.0 are featured in select devices in the Samsung Galaxy S25 series, which introduces multimodal AI agents to pioneer intuitive and context-aware mobile AI experiences. Additionally, Micron is now shipping its most power-efficient LPDDR5X memory ever to the market for the first time, offering users more than 10% power improvement.1 With its One UI 7 update, the Galaxy S25 series is a true AI companion that provides personalized experiences tailored to users’ unique needs, powered by multimodal AI agents that seamlessly interpret text, speech, images and videos.

    As smartphone AI capabilities grow in sophistication, processing is increasingly executed directly on edge devices rather than relying only on the cloud. This demands more high-performance memory and storage than ever to accommodate AI models and datasets on the devices. Power efficiency is also critical, with over 70% of smartphone users stating that battery life is the most important feature they consider when purchasing a phone.

    “We’ve optimized Micron’s mobile portfolio to deliver the power efficiency, high performance and large capacity needed to propel the next wave of AI innovation in flagship smartphones,” said Mark Montierth, corporate vice president and general manager of Micron’s Mobile Business Unit. “Samsung is setting a new standard for AI phones, enabling them to be true AI companions with context-aware and personalized mobile experiences powered by Micron’s leadership memory and storage.”

    Micron’s high-bandwidth LPDDR5X memory and advanced UFS 4.0 storage are embedded into select Galaxy S25 Ultra, Galaxy S25+ and Galaxy S25 devices, accelerating real-time AI processing at consumers’ fingertips. Micron’s UFS 4.0 storage is available in high capacities, allowing data to be stored locally instead of the cloud, providing greater security for personal data. Additionally, the power efficiency gains of Micron’s latest LPDDR5X are attributed to its advanced 1β (1-beta) process technology and design optimizations, enabling it to operate at voltages lower than the industry standard — resulting in longer battery life.

    “The Galaxy S25 series represents the next evolution of the mobile AI era — one that brings a more natural, context-aware and personalized experience to users, redefining how they interact with their devices and by extension, the world around them,” said Inkang Song, vice president and head of the technology strategy team at Samsung. “Through our close collaboration, Micron’s mobile solutions provide the foundation that powers these transformative AI capabilities, driving innovation and shaping the future of mobile AI technology.”

    This announcement follows Micron’s LPDDR5X and UFS 4.0 validation last fall for the Snapdragon® 8 Elite Mobile Platform, a chipset designed to accelerate AI-capable smartphones, in addition to complementing these solutions’ inclusion last year in Samsung’s AI-centric Galaxy S24 series. Together, these announcements illustrate Micron’s close collaboration across the mobile ecosystem, from chipset vendors to smartphone manufacturers, to enable a new generation of flagship smartphones delivering on-device AI.

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

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

    Snapdragon is a trademark or registered trademark of Qualcomm Incorporated. Snapdragon is a product of Qualcomm Technologies, Inc. and/or its subsidiaries. 

    1 When compared to JEDEC-standard operation

    The MIL Network –

  • MIL-OSI: Quantum Computing Solutions Big Influence on Commercial & Military Drone Applications Drastically Improving Operations

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., Feb. 20, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Recent reports on the quantum computing market all seem to project substantial growth for years to come and will enter into a multitude of uses… including drones. A recent International Conference of Intelligent Computing & Optimization Conference paper, titled “Enhancing Privacy and Security for UAV and IoT Enabled Drones an Intelligent Integration of Blockchain, AI, and Quantum Computing” had this to say, in part: “Unmanned aerial vehicles (UAVs) and drones have seen an upsurge in their usage in various industries due to the advancement of the Internet of Things (IoT). Nevertheless, the extensive use of these technologies has given rise to concerns over privacy, data integrity, and security. This research presents a pioneering approach to tackle these challenges by amalgamating Blockchain technology, artificial intelligence (AI), and quantum computing. By virtue of its decentralized and immutable nature, blockchain can safeguard data integrity for UAVs and drones. A blockchain-based system can store all drone data transfers on distributed ledgers, thus enhancing transparency and reducing the risk of malicious tampering. The use of AI can significantly benefit drone operations and decision-making. AI systems empower drones to dynamically reroute themselves, predict potential security hazards, and adapt to new situations. Furthermore, AI’s real-time data processing can enhance anomaly detection and response times. Quantum computing, although still in its nascent stages, furnishes unparalleled processing capability. Drone data encryption is almost unfeasible to decrypt using conventional computing methods, as per quantum-enhanced security protocols that can be devised owing to quantum physics.”   Active Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), D-Wave Quantum Inc. (NYSE: QBTS), Quantum Computing Inc. (NASDAQ: QUBT), IonQ (NYSE: IONQ), Quantum Corporation (NASDAQ: QMCO).

    The article continued: “Additionally, quantum computing can expedite complex route enhancements, thereby considerably augmenting drone output. The amalgamation of Blockchain, AI, and Quantum Computing has provided a comprehensive solution to the privacy and security apprehensions concerning UAVs and IoT-enabled drones. The forthcoming drone operations are expected to reap the benefits of the most promising features of these technologies, thereby elevating the benchmark for efficiency, openness, and safety. This study’s investigation provides insights into the advantages… of these integration mechanisms. An Abstract from yet another scholarly paper on ScienceDirect.com titled: “Futuristic view of the Internet of Quantum Drones: Review, challenges and research agenda”, said this: “The disruptive technology of unmanned aerial vehicles (UAVs), or drones, is a trend with increasing applications and practical relevance in the current and future society. Despite the common interest in drones for commercial deliveries, the use of this disruptive technology can be examined in the contexts of other world strategic demands such as climate change issues and traffic management. As of very recently, some drone-related futuristic disruptive technologies, including quantum drones (QD), the Internet of Quantum Drones (IoQDs), and a constellation of quantum satellites (CQS), are expected to be a breakthrough technology in strategic areas of society.”

    ZenaTech (NASDAQ:ZENA) Quantum Computing “Sky Traffic” Project Demonstrates High Accuracy in Initial Testing Leading to Expansion of Team and AI Drone Applications for Commercial and Defense – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a technology company specializing in AI (Artificial Intelligence) drones, Drone as a Service (DaaS), enterprise SaaS and Quantum Computing solutions, announces positive results from initial testing and an update on its Quantum Computing Sky Traffic project. An initial test using the Company’s AI algorithms and quantum computing to predict weather has resulted in a high level of accuracy for the parameters tested including actual temperatures verses predicted temperatures in the test which used 2016 data.

    Due in part to these encouraging results, ZenaTech is now growing its internal team over the next two months. As part of the ramp up, the Company is adding additional quantum, AI and hardware engineers, and optimization specialists and is engaged in recruiting staff from physics facilities at international universities, including researchers, instructors, and Ph.D. candidates.

    “The Sky Traffic project leverages AI and quantum computing to process vast data streams to improve the accuracy and speed of weather forecasting that can also apply to the innovation of many other commercial and defense applications utilizing drones. Our hiring strategy focuses on assembling a multidisciplinary team of quantum and AI specialists, and hardware and aerospace engineers to help us revolutionize autonomous drones. By combining quantum algorithms with advanced machine learning, we can optimize navigation, decision-making, and real-time data processing for next-generation aerial intelligence,” said CEO Shaun Passley, Ph.D.

    ZenaTech launched the Sky Traffic project in November 2024, which will utilize its AI drones, quantum computing, and specialized quantum and AI teams to develop and test advanced applications for traffic management, weather forecasting, wildfire management and defense applications using large datasets, Amazon Web Services, and computing devices and platforms.

    AI Drones are used in weather forecasting to collect real-time atmospheric data from hard-to-reach areas, such as storm systems or remote regions, providing valuable input for weather models. Quantum computers can then analyze this vast and complex data much faster and more accurately, improving weather predictions and enhancing the ability to forecast extreme events like hurricanes, tornadoes, or wildfires.

    AI and quantum computing can work together to make defense drones smarter, faster, and more efficient using a single drone or a swarm of multiple drones. AI helps drones analyze data, recognize objects, and make decisions on their own, while quantum computing can process massive amounts of information much faster than regular computers. For example, a defense drone using AI can detect enemy movement, but adding quantum computing allows it to analyze complex battlefield data instantly and find the best flight path or strategy in real time. This combination improves reaction speed, mission accuracy, and overall drone performance, making them more effective for surveillance, reconnaissance, and security operations.

    Quantum computing is an emergent field of cutting-edge computer science harnessing the unique qualities of quantum mechanics to solve problems beyond the ability of even the most powerful classical computers of today, to process massively complicated mathematical problems and data at orders of magnitude faster speeds.

    The ZenaDrone 1000 is a multifunction autonomous drone, in a VTOL (Vertical Takeoff and Landing) quadcopter design with eight rotors; it is considered a medium-sized drone measuring 12X7 feet in size. It is designed for stable flight, maneuverability, heavy lift capabilities up to 40 kilos, incorporating innovative software technology, AI, sensors, and purpose-built attachments, along with compact and rugged hardware engineered for industrial and defense use for a variety of inspection, surveillance or tracking applications.   Continued… Read this full release by visiting: https://www.financialnewsmedia.com/news-zena/

    Other recent developments in the markets include:

    D-Wave Quantum Inc. (NYSE: QBTS) and the Julich Supercomputing Centre (“JSC”) at Forschungszentrum Julich (“FZJ”) have recently announced that FZJ has purchased a D-Wave quantum computer, becoming the first high-performance computing (HPC) center in the world to own a D-Wave Advantage(TM) annealing quantum computing system.

    With the purchase of the world’s largest quantum computer and Europe’s first quantum computer with more than 5,000 qubits and 15-way connectivity, the Julich UNified Infrastructure for Quantum computing (JUNIQ), a public quantum computing user facility deployed by JSC, gains complete access to all aspects of the system. This will allow it to integrate the D-Wave system with Julich’s JUPITER exascale supercomputer in the future, potentially enabling breakthroughs in areas such as artificial intelligence (AI) and quantum optimization. JSC’s system will be upgraded to D-Wave’s next-generation Advantage2 processor once available. The Advantage2 system is expected to deliver significant performance gains with doubled coherence, increased connectivity and a 40 percent boost to the energy scale for advanced problem solving.

    Quantum Computing Inc. (NASDAQ: QUBT) recently announced it has received a fifth purchase order for its thin film lithium niobate (TFLN) photonic chip foundry. The latest order comes from a research group based in Canada to support its research efforts on quantum photonics.

    As part of the order, QCi will provide the research group with custom test structures based on its TFLN photonic integrated circuit (PIC) chip technology. These test structures will serve as a baseline for advanced designs, such as periodically poled lithium niobate (PPLN) components, which are essential for generating entangled photons and optical frequency conversion. Under this order agreement, the research group will also receive priority access and preferred rates for future multi-project wafer (MPW) runs offered by QCi.

    IonQ (NYSE: IONQ) and General Dynamics Information Technology (GDIT), a business unit of General Dynamics, recently announced a partnership to bring the power of quantum computing to government and defense sectors.

    IonQ and GDIT are partnering to combine GDIT’s deep technical and government agency mission expertise with IonQ’s pioneering quantum technology. Together, the companies will co-develop and market advanced quantum processing and networking applications to address high-impact use cases, including quantum AI extensions, resource optimization, and anomaly detection. This collaboration aims to deliver transformative capabilities for federal, and state governments, meeting critical challenges with cutting-edge solutions.

    Quantum Corporation (NASDAQ: QMCO) recently announced scalability enhancements to its Quantum Myriad® all-flash file system, making it the first solution to offer incremental, in-place system scaling with dynamic, automatic data leveling. These advancements deliver unmatched flexibility and adaptability in a modern, all-flash file system so customers can meet their evolving storage requirements in the era of AI.

    The new scalability features enable customers to start with as few as five partially populated NVMe Storage Server nodes, then expand in increments of one or more nodes at a time with the additional storage available in minutes, with no need for admin intervention, and no impact or interruption to user operation. Customers will be able to continue adding nodes as their needs grow, increasing capacity while maintaining linear performance with automatic data leveling across all nodes as new Storage Server nodes are added.

    About FN Media Group:

    At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases

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    DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM has been compensated fifty four hundred dollars for news coverage of the current press releases issued by ZenaTech, Inc. by the Company.  FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

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    SOURCE: FN Media Group

    The MIL Network –

  • MIL-OSI: Monthly Distribution Declared for Quadravest Preferred Split Share ETF

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 20, 2025 (GLOBE NEWSWIRE) — Toronto, ON – February 20, 2025 / Globe NewsWire: Quadravest Capital Management Inc. (the “Manager”) is pleased to declare a monthly distribution for Quadravest Preferred Split Share ETF (“Preferred ETF”) as follows:

           
      Amount Per Unit: $0.05833 CAD  
      Record Date: February 28, 2025  
      Payment Date: March 10, 2025  
           

    The monthly distribution per unit represents a total of $0.70 annualized based on the initial issue price of $10.00.

    The investment objectives of Preferred ETF are to provide unitholders with: (a) monthly distributions and (b) the opportunity for capital preservation, primarily through a portfolio of preferred shares of split share corporations.  

    Preferred ETF will seek to achieve its investment objectives by investing in an actively managed portfolio of split corp. preferred shares offered by Canadian split share corporations listed on a Canadian exchange. The Preferred ETF may also invest in preferred shares of other issuers, exchange-traded funds, other investment funds, equities or income-generating securities, and securities that are convertible into any of the above noted securities provided such investments are consistent with the Preferred ETF’s investment objectives.  

    Monthly distributions are targeted and will be set at the Manager’s sole discretion and may be changed or vary in subsequent periods, as announced by the Manager. If the total return on the portfolio of the Preferred ETF is less than the amount necessary to fund the monthly distributions and all expenses of the Preferred ETF, this will result in a portion of the distributions paid to unitholders being a return of the capital to unitholders and a decrease in NAV per unit.  

    The Manager has assigned Preferred ETF a risk rating of “low”.

    For further details, please refer to Preferred ETF’s Facts document available on www.sedarplus.com or on Preferred ETF’s home page at www.quadravest.com.   

    Founded in 1997, the Manager has a successful track record of creating and managing investment products with approximately $5 billion in assets under management, and proudly manages a portfolio of 13 publicly traded investment products including split share corporations and an investment trust. 

    Commissions, management fees and expenses all may be associated with exchange-traded fund investments. Please read the prospectus before investing. Exchange-traded funds are not guaranteed, their values change frequently and past performance may not be repeated. Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forwardlooking information may relate to matters disclosed in this press release and to other matters identified in public filings relating to the fund, to the future outlook of the fund and anticipated events or results and may include statements regarding the future financial performance of the fund. In some cases, forward-looking information can be identified by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “intend”, “estimate”, “predict”, “potential”, “continue” or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Investors should not place undue reliance on forward-looking statements. These forwardlooking statements are made as of the date hereof and we assume no obligation to update or revise them to reflect new events or circumstances.

    Investor Relations:   1-877-478-2372   Local: 416-304-4443   www.quadravest.com   info@quadravest.com 

    The MIL Network –

  • MIL-OSI: Exodus Expands Crypto Access to Venmo Users Through MoonPay Integration

    Source: GlobeNewswire (MIL-OSI)

    OMAHA, Neb., Feb. 20, 2025 (GLOBE NEWSWIRE) — Exodus, a leading self-custodial crypto wallet provider, today announced the integration of Venmo as a payment method through its partnership with MoonPay, a global payments infrastructure provider. This integration empowers Venmo’s more than 60 million monthly active users to buy cryptocurrency through their Venmo accounts via the Exodus Mobile wallet app.

    Now available for users in the U.S., Bitcoin and crypto purchases can be made immediately through a simple process in the Exodus app by selecting Venmo as the preferred payment method through MoonPay’s secure checkout interface. Offering greater payment flexibility and choice, the integration makes digital asset ownership practical and more accessible for everyday users.

    This new feature adds to the existing array of payment options available on Exodus such as debit and credit card, as well as PayPal, Apple Pay, Google Pay, and bank transfers.

    “By integrating Venmo through MoonPay, we’re making cryptocurrency more accessible to tens of millions of Americans who already know, trust, and use Venmo for their daily transactions. This partnership represents another step in our mission to empower individuals in the digital economy,” said Kevin Wood, Director of Revenue Operations at Exodus.

    “MoonPay is thrilled to bring Venmo as a payment method to Exodus’s millions of users,” said Ivan Soto-Wright, CEO and co-founder of MoonPay. “Venmo revolutionized online payments, and now Exodus users can leverage that same ease when buying crypto. This integration enhances accessibility, providing a fast, familiar, and frictionless way for users to fund their wallets directly from Venmo.”

    About Exodus
    Exodus empowers individuals to take control of their lives in a digital world with secure, user-friendly crypto software. Since 2015, Exodus has made digital assets accessible through self-custodial wallets that put users in full control of their funds, enabling seamless swaps, buys, and sells. For businesses, Exodus offers Passkeys Wallet and XO Swap, leading solutions for embedded crypto wallets and swap aggregation. Committed to accessible and secure finance, Exodus is shaping the future of digital ownership. Learn more at exodus.com or follow us on X at x.com/exodus.

    About MoonPay
    MoonPay creates a world where you own your digital future, giving you control of your identity, money, property and data. Our end-to-end solutions simplify access to payments and experiences for 20M+ people across 180+ countries. As a leading financial technology company with crypto expertise, MoonPay is trusted by iconic global brands to power creation and movement of digital value. Learn more at moonpay.com or follow them on X at x.com/moonpay.

    Investor Contact
    investors@exodus.com

    The MIL Network –

  • MIL-OSI: Dave Completes Transition to Simplified Fee Structure

    Source: GlobeNewswire (MIL-OSI)

    LOS ANGELES, Feb. 20, 2025 (GLOBE NEWSWIRE) — Dave Inc. (“Dave” or the “Company”) (Nasdaq: DAVE), one of the nation’s leading neobanks, today announced the completion of changes to its optional “Tips” and instant transfer feature for using its ExtraCash service.

    The optional fee model, which allowed members to access credit for as little as $0 per transaction, has been replaced with a simplified 5% fee structure including a $5 minimum and $15 cap. There will also be no additional fees incurred to instantly transfer funds from ExtraCash to Dave Checking accounts. Early testing of the new structure indicates positive member feedback and suggests enhancements to lifetime value, resulting in the company moving forward with the full member migration within the previously disclosed early 2025 timeline.

    The transition supports Dave’s mission to make finances easier for its members, and level the financial playing field.

    About Dave

    Dave (Nasdaq: DAVE) is a leading U.S. neobank and fintech pioneer serving millions of everyday Americans. Dave uses disruptive technologies to provide best-in-class banking services at a fraction of the price of incumbents. Dave partners with Evolve Bank & Trust, a FDIC member. For more information about the company, visit: www.dave.com. For investor information and updates, visit: investors.dave.com and follow @davebanking on X.

    Forward-Looking Statements

    This press release includes forward-looking statements, which are subject to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “feels,” “believes,” “expects,” “estimates,” “projects,” “intends,” “remains,” “should,” “is to be,” or the negative of such terms, or other comparable terminology and include, among other things, statements relating to the transition to a new fee structure for Dave’s ExtraCash product, including the results of early testing of the new fee structure, and any other statements about future events. Such forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein due to many factors, including, but not limited to: the ability of Dave to compete in its highly competitive industry; the ability of Dave to keep pace with the rapid technological developments in its industry and the larger financial services industry; the ability of Dave to manage risks associated with providing ExtraCash advances; the ability of Dave to retain its current Members, acquire new Members and sell additional functionality and services to its Members; the ability of Dave to protect intellectual property and trade secrets; the ability of Dave to maintain the integrity of its confidential information and information systems or comply with applicable privacy and data security requirements and regulations; the reliance by Dave on a single bank partner; the ability of Dave to maintain or secure current and future key banking relationships and other third-party service providers, including as contemplated by the previously announced letter of intent to form a strategic partnership with a potential bank sponsor; failures by third-party service providers; changes in applicable laws or regulations and extensive and evolving government regulations that impact operations and business; the ability to attract or maintain a qualified workforce; level of product service failures that could lead Dave Members to use competitors’ services; investigations, claims, disputes, enforcement actions, litigation and/or other regulatory or legal proceedings, including the DOJ’s lawsuit against Dave; the ability to maintain the listing of Dave Class A Common Stock on The Nasdaq Stock Market; the possibility that Dave may be adversely affected by other economic factors, including fluctuating interest rates, and business, and/or competitive factors; and other risks and uncertainties discussed in Dave’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 5, 2024 and subsequent Quarterly Reports on Form 10-Q under the heading “Risk Factors,” filed with the SEC and other reports and documents Dave files from time to time with the SEC. Any forward-looking statements speak only as of the date on which they are made, and Dave undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this press release.

    Investor Relations Contact

    Sean Mansouri, CFA
    Elevate IR
    DAVE@elevate-ir.com

    Media Contact

    Dan Ury
    press@dave.com

    The MIL Network –

  • MIL-OSI Economics: Economy Enters 2025 on Strong Footing as Markets Digest Policy Uncertainty

    Source: Fannie Mae

    WASHINGTON, DC – Incoming gross domestic product (GDP), labor market, and inflation data point to an economy that entered 2025 with strong momentum, according to the February 2025 commentary from the Fannie Mae (FNMA/OTCQB) Economic and Strategic Research (ESR) Group. While the ESR Group’s GDP outlook is unchanged at 2.2 percent Q4/Q4 in 2025, it revised upward its expectations for the Consumer Price Index, which is now forecast to end 2025 at 2.8 percent on a year-over-year basis (2.5 percent previously), primarily due to recently higher-than-expected inflation readings. Further, the ESR Group incorporated the recently implemented 10-percent additional tariff on imports from China into its February forecast; it expects the tariffs will have a small negative impact on growth and put slight upward pressure on inflation. However, the ESR Group notes that current risks to the outlook are higher than normal due to uncertainty around trade policy, including additional tariff proposals.

    The ESR Group now expects mortgage rates to end 2025 and 2026 at 6.6 and 6.5 percent, respectively, upward revisions from its prior outlook. The ESR Group notes there are plausible scenarios for both upward and downward movement in mortgage rates due to trade policies, but its expectations for mortgage rate volatility this year remains intact as markets react to trade policy announcements, incoming economic data, and other fiscal policy changes. Additionally, the ESR Group made modest upward revisions to its existing home sales outlook for 2025 due to a stronger-than-expected December sales pace and resilient purchase applications data, but it notes that the level of existing sales is still expected to be 22 percent below the pace seen in 2019.

    “Economic growth was strong to start the year as fourth quarter personal consumption data came in above our expectations,” said Kim Betancourt, Fannie Mae Vice President of Multifamily Economics and Strategic Research. “Going forward, we expect the economy to decelerate slightly as consumer spending slows to a level more consistent with its historical relationship to income. However, ongoing uncertainty around trade policy adds risk to our GDP and inflation outlooks, which may have implications for mortgage rates, although the direction – up or down – would depend on a number of factors. Higher mortgage rates would exacerbate the existing ‘lock-in effect’ and worsen affordability, which may then weigh on home sales and mortgage originations activity. Of course, if mortgage rates move lower, we’d likely see an improvement in affordability and a corresponding pickup in housing activity.”

    Visit the Economic and Strategic Research site at fanniemae.com to read the full February 2025 Economic Outlook, including the Economic Developments Commentary, Economic Forecast, and Housing Forecast. To receive email updates with other housing market research from Fannie Mae’s Economic and Strategic Research Group, please click here.

    Opinions, analyses, estimates, forecasts, beliefs, and other views of Fannie Mae’s Economic and Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae’s business prospects or expected results, are based on assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, beliefs, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current, or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, beliefs, and other views published by the ESR Group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.

    About the ESR Group
    Fannie Mae’s Economic and Strategic Research Group, led by Chief Economist Mark Palim, studies current data, analyzes historical and emerging trends, and conducts surveys of consumer and mortgage lender groups to provide forecasts and analyses on the economy, housing, and mortgage markets.

    MIL OSI Economics –

  • MIL-OSI Global: A fiscal crisis is looming for many US cities

    Source: The Conversation – USA – By John Rennie Short, Professor Emeritus of Public Policy, University of Maryland, Baltimore County

    Houston residents at a flooded park after the passage of Hurricane Beryl, July 8, 2024. Mark Felix/AFP via Getty Images

    Five years after the start of the COVID-19 pandemic, many U.S. cities are still adjusting to a new normal, with more people working remotely and less economic activity in city centers. Other factors, such as underfunded pension plans for municipal employees, are pushing many city budgets into the red.

    Urban fiscal struggles are not new, but historically they have mainly affected U.S. cities that are small, poor or saddled with incompetent managers. Today, however, even large cities, including Chicago, Houston and San Francisco, are under serious financial stress.

    This is a looming nationwide threat, driven by factors that include climate change, declining downtown activity, loss of federal funds and large pension and retirement commitments.

    Spending cuts abound in many U.S. cities as inflation lingers and pandemic-era stimulus dries up.

    Why cities struggle

    Many U.S. cities have faced fiscal crises over the past century, for diverse reasons. Most commonly, stress occurs after an economic downturn or sharp fall in tax revenues.

    Florida municipalities began to default in 1926 after the collapse of a land boom. Municipal defaults were common across the nation in the 1930s during the Great Depression: As unemployment rose, relief burdens swelled and tax collections dwindled.

    In 1934 Congress amended the U.S. bankruptcy code to allow municipalities to file formally for bankruptcy. Subsequently, 27 states enacted laws that authorized cities to become debtors and seek bankruptcy protection.

    Declaring bankruptcy was not a cure-all. It allowed cities to refinance debt or stretch out payment schedules, but it also could lead to higher taxes and fees for residents, and lower pay and benefits for city employees. And it could stigmatize a city for many years afterward.

    In the 1960s and 1970s, many urban residents and businesses left cities for adjoining suburbs. Many cities, including New York, Cleveland and Philadelphia, found it difficult to repay debts as their tax bases shrank.

    The New York Daily News, Oct. 30, 1975, after U.S. President Gerald Ford ruled out providing federal aid to save the city from bankruptcy. Several months later, Ford signed legislation authorizing federal loans.
    Edward Stojakovic/Flickr, CC BY

    In the wake of the 2008-2009 housing market collapse, cities including Detroit, San Bernardino, California, and Stockton, California, filed for bankruptcy. Other cities faced similar difficulties but were located in states that did not allow municipalities to declare bankruptcy.

    Even large, affluent jurisdictions could go off the financial rails. For example, Orange County, California, went bankrupt in 2002 after its treasurer, Robert Citron, pursued a risky investment strategy of complex leveraging deals, losing some $1.65 billion in taxpayer funds.

    Today, cities face a convergence of rising costs and decreasing revenues in many places. As I see it, the urban fiscal crisis is now a pervasive national challenge.

    Climate-driven disasters

    Climate change and its attendant increase in major disasters are putting financial pressure on municipalities across the country.

    Events like wildfires and flooding have twofold effects on city finances. First, money has to be spent on rebuilding damaged infrastructure, such as roads, water lines and public buildings. Second, after the disaster, cities may either act on their own or be required under state or federal law to make expensive investments in preparation for the next storm or wildfire.

    Los Angeles Mayor Karen Bass (center) discusses wildfire recovery in Pacific Palisades, Calif., Jan. 27, 2025. Cleaning up after the wildfires, which destroyed more than 16,000 structures, will include disposing of several million tons of toxic ash and debris.
    Drew A. Kelley/MediaNews Group/Long Beach Press-Telegram via Getty Images

    In Houston, for example, court rulings after multiple years of severe flooding are forcing the city to spend $100 million on street repairs and drainage by mid-2025. This requirement will expand the deficit in Houston’s annual budget to $330 million.

    In Massachusetts, towns on Cape Cod are spending millions of dollars to switch from septic systems to public sewer lines and upgrade wastewater treatment plants. Population growth has sharply increased water pollution on the Cape, and climate change is promoting blooms of toxic algae that feed on nutrients in wastewater.

    Increasing uncertainty about the total costs of mitigating and adapting to climate change will inevitably lead rating agencies to downgrade municipal credit ratings. This raises cities’ costs to borrow money for climate-related projects like protecting shorelines and improving wastewater treatment.

    Underfunded pensions

    Cities also spend a lot of money on employees, and many large cities are struggling to fund pensions and health benefits for their workforces. As municipal retirees live longer and require more health care, the costs are mounting.

    For example, Chicago currently faces a budget deficit of nearly $1 billion, which stems partly from underfunded retirement benefits for nearly 30,000 public employees. The city has $35 billion in unfunded pension liabilities and almost $2 billion in unfunded retiree health benefits. Chicago’s teachers are owed $14 billion in unfunded benefits.

    Policy studies have shown for years that politicians tend to underfund retirement and pension benefits for public employees. This approach offloads the real cost of providing police, fire protection and education onto future taxpayers.

    Struggling downtowns and less federal support

    Cities aren’t just facing rising costs – they’re also losing revenues. In many U.S. cities, retail and commercial office economies are declining. Developers have overbuilt commercial properties, creating an excess supply. More unleased properties will mean lower tax revenues.

    At the same time, pandemic-related federal aid that cushioned municipal finances from 2020 through 2024 is dwindling.

    State and local governments received $150 billion through the 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act and an additional $130 billion through the 2021 American Rescue Plan Act. Now, however, this federal largesse – which some cities used to fill mounting fiscal cracks – is at an end.

    In my view, President Donald Trump’s administration is highly unlikely to bail out urban areas – especially more liberal cities like Detroit, Philadelphia and San Francisco. Trump has portrayed large cities governed by Democrats in the darkest terms – for example, calling Baltimore a “rodent-infested mess” and Washington, D.C., a “dirty, crime-ridden death trap.” I expect that Trump’s animus against big cities, which was a staple of his 2024 campaign, could become a hallmark of his second term.

    Detroit officials respond to disparaging remarks about the city by Donald Trump during a campaign speech in Detroit, Oct. 10, 2024.

    Resistance to new taxes

    Cities can generate revenue from taxes on sales, businesses, property and utilities. However, increasing municipal taxes – particularly property taxes – can be very difficult.

    In 1978, California adopted Proposition 13 – a ballot measure that limited property tax increases to the rate of inflation or 2% per year, whichever is lower. This high-profile campaign created a widespread narrative that property taxes were out of control and made it very hard for local officials to support property tax increases.

    Thanks to caps like Prop 13, a persistent public view that taxes are too high and political resistance, property taxes have tended to lag behind inflation in many parts of the country.

    The crunch

    Taking these factors together, I see a fiscal crunch coming for U.S. cities. Small cities with low budgets are particularly vulnerable. But so are larger, more affluent cities, such as San Francisco with its collapsing downtown office market, or Houston, New York and Miami, which face growing costs from climate change.

    Workers in North Miami Beach, Fla., distribute sandbags to residents to help prevent flooding as Hurricane Milton approaches the state on Oct. 8, 2024.
    AP Photo/Wilfredo Lee

    One city manager who runs an affluent municipality in the Pacific Northwest told me that in these difficult circumstances, politicians need to be more frank and open with their constituents and explain convincingly and compellingly how and why taxpayer money is being spent.

    Efforts to balance city budgets are opportunities to build consensus with the public about what municipalities can do, and at what cost. The coming months will show whether politicians and city residents are ready for these hard conversations.

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

    – ref. A fiscal crisis is looming for many US cities – https://theconversation.com/a-fiscal-crisis-is-looming-for-many-us-cities-249436

    MIL OSI – Global Reports –

  • MIL-OSI United Kingdom: Student Finance England mailing list 2025 to 2026

    Source: United Kingdom – Government Statements

    Students from England can sign up to our mailing list to be told when full-time undergraduate applications open.

    Mailing list for 2025 to 2026

    Student Finance England (SFE) students can sign up to our mailing list to find out when full-time undergraduate applications open!

    It’s important for new and continuing SFE students to stay up to date so they can apply early for student finance for 2025 to 2026.

    They can find the sign up page through our social media posts and on our campaign page.

    Students, parents and university and college staff can also sign up to the mailing list to find out when applications open.

    Part-time undergraduate and postgraduate students

    Postgraduate applications will be available at the end of April. Part-time applications will be available from May.

    S##ocial media

    Follow us for regular updates throughout our campaign!

    Student Finance England

    Facebook – https://www.facebook.com/SFEngland/

    X – https://x.com/SF_England

    Instagram – https://www.instagram.com/studentfinance_england/

    YouTube – https://www.youtube.com/user/SFEFILM

    Updates to this page

    Published 20 February 2025

    MIL OSI United Kingdom –

  • MIL-Evening Report: A fiscal crisis is looming for many US cities

    Source: The Conversation (Au and NZ) – By John Rennie Short, Professor Emeritus of Public Policy, University of Maryland, Baltimore County

    Houston residents at a flooded park after the passage of Hurricane Beryl, July 8, 2024. Mark Felix/AFP via Getty Images

    Five years after the start of the COVID-19 pandemic, many U.S. cities are still adjusting to a new normal, with more people working remotely and less economic activity in city centers. Other factors, such as underfunded pension plans for municipal employees, are pushing many city budgets into the red.

    Urban fiscal struggles are not new, but historically they have mainly affected U.S. cities that are small, poor or saddled with incompetent managers. Today, however, even large cities, including Chicago, Houston and San Francisco, are under serious financial stress.

    This is a looming nationwide threat, driven by factors that include climate change, declining downtown activity, loss of federal funds and large pension and retirement commitments.

    Spending cuts abound in many U.S. cities as inflation lingers and pandemic-era stimulus dries up.

    Why cities struggle

    Many U.S. cities have faced fiscal crises over the past century, for diverse reasons. Most commonly, stress occurs after an economic downturn or sharp fall in tax revenues.

    Florida municipalities began to default in 1926 after the collapse of a land boom. Municipal defaults were common across the nation in the 1930s during the Great Depression: As unemployment rose, relief burdens swelled and tax collections dwindled.

    In 1934 Congress amended the U.S. bankruptcy code to allow municipalities to file formally for bankruptcy. Subsequently, 27 states enacted laws that authorized cities to become debtors and seek bankruptcy protection.

    Declaring bankruptcy was not a cure-all. It allowed cities to refinance debt or stretch out payment schedules, but it also could lead to higher taxes and fees for residents, and lower pay and benefits for city employees. And it could stigmatize a city for many years afterward.

    In the 1960s and 1970s, many urban residents and businesses left cities for adjoining suburbs. Many cities, including New York, Cleveland and Philadelphia, found it difficult to repay debts as their tax bases shrank.

    The New York Daily News, Oct. 30, 1975, after U.S. President Gerald Ford ruled out providing federal aid to save the city from bankruptcy. Several months later, Ford signed legislation authorizing federal loans.
    Edward Stojakovic/Flickr, CC BY

    In the wake of the 2008-2009 housing market collapse, cities including Detroit, San Bernardino, California, and Stockton, California, filed for bankruptcy. Other cities faced similar difficulties but were located in states that did not allow municipalities to declare bankruptcy.

    Even large, affluent jurisdictions could go off the financial rails. For example, Orange County, California, went bankrupt in 2002 after its treasurer, Robert Citron, pursued a risky investment strategy of complex leveraging deals, losing some $1.65 billion in taxpayer funds.

    Today, cities face a convergence of rising costs and decreasing revenues in many places. As I see it, the urban fiscal crisis is now a pervasive national challenge.

    Climate-driven disasters

    Climate change and its attendant increase in major disasters are putting financial pressure on municipalities across the country.

    Events like wildfires and flooding have twofold effects on city finances. First, money has to be spent on rebuilding damaged infrastructure, such as roads, water lines and public buildings. Second, after the disaster, cities may either act on their own or be required under state or federal law to make expensive investments in preparation for the next storm or wildfire.

    Los Angeles Mayor Karen Bass (center) discusses wildfire recovery in Pacific Palisades, Calif., Jan. 27, 2025. Cleaning up after the wildfires, which destroyed more than 16,000 structures, will include disposing of several million tons of toxic ash and debris.
    Drew A. Kelley/MediaNews Group/Long Beach Press-Telegram via Getty Images

    In Houston, for example, court rulings after multiple years of severe flooding are forcing the city to spend $100 million on street repairs and drainage by mid-2025. This requirement will expand the deficit in Houston’s annual budget to $330 million.

    In Massachusetts, towns on Cape Cod are spending millions of dollars to switch from septic systems to public sewer lines and upgrade wastewater treatment plants. Population growth has sharply increased water pollution on the Cape, and climate change is promoting blooms of toxic algae that feed on nutrients in wastewater.

    Increasing uncertainty about the total costs of mitigating and adapting to climate change will inevitably lead rating agencies to downgrade municipal credit ratings. This raises cities’ costs to borrow money for climate-related projects like protecting shorelines and improving wastewater treatment.

    Underfunded pensions

    Cities also spend a lot of money on employees, and many large cities are struggling to fund pensions and health benefits for their workforces. As municipal retirees live longer and require more health care, the costs are mounting.

    For example, Chicago currently faces a budget deficit of nearly $1 billion, which stems partly from underfunded retirement benefits for nearly 30,000 public employees. The city has $35 billion in unfunded pension liabilities and almost $2 billion in unfunded retiree health benefits. Chicago’s teachers are owed $14 billion in unfunded benefits.

    Policy studies have shown for years that politicians tend to underfund retirement and pension benefits for public employees. This approach offloads the real cost of providing police, fire protection and education onto future taxpayers.

    Struggling downtowns and less federal support

    Cities aren’t just facing rising costs – they’re also losing revenues. In many U.S. cities, retail and commercial office economies are declining. Developers have overbuilt commercial properties, creating an excess supply. More unleased properties will mean lower tax revenues.

    At the same time, pandemic-related federal aid that cushioned municipal finances from 2020 through 2024 is dwindling.

    State and local governments received $150 billion through the 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act and an additional $130 billion through the 2021 American Rescue Plan Act. Now, however, this federal largesse – which some cities used to fill mounting fiscal cracks – is at an end.

    In my view, President Donald Trump’s administration is highly unlikely to bail out urban areas – especially more liberal cities like Detroit, Philadelphia and San Francisco. Trump has portrayed large cities governed by Democrats in the darkest terms – for example, calling Baltimore a “rodent-infested mess” and Washington, D.C., a “dirty, crime-ridden death trap.” I expect that Trump’s animus against big cities, which was a staple of his 2024 campaign, could become a hallmark of his second term.

    Detroit officials respond to disparaging remarks about the city by Donald Trump during a campaign speech in Detroit, Oct. 10, 2024.

    Resistance to new taxes

    Cities can generate revenue from taxes on sales, businesses, property and utilities. However, increasing municipal taxes – particularly property taxes – can be very difficult.

    In 1978, California adopted Proposition 13 – a ballot measure that limited property tax increases to the rate of inflation or 2% per year, whichever is lower. This high-profile campaign created a widespread narrative that property taxes were out of control and made it very hard for local officials to support property tax increases.

    Thanks to caps like Prop 13, a persistent public view that taxes are too high and political resistance, property taxes have tended to lag behind inflation in many parts of the country.

    The crunch

    Taking these factors together, I see a fiscal crunch coming for U.S. cities. Small cities with low budgets are particularly vulnerable. But so are larger, more affluent cities, such as San Francisco with its collapsing downtown office market, or Houston, New York and Miami, which face growing costs from climate change.

    Workers in North Miami Beach, Fla., distribute sandbags to residents to help prevent flooding as Hurricane Milton approaches the state on Oct. 8, 2024.
    AP Photo/Wilfredo Lee

    One city manager who runs an affluent municipality in the Pacific Northwest told me that in these difficult circumstances, politicians need to be more frank and open with their constituents and explain convincingly and compellingly how and why taxpayer money is being spent.

    Efforts to balance city budgets are opportunities to build consensus with the public about what municipalities can do, and at what cost. The coming months will show whether politicians and city residents are ready for these hard conversations.

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

    – ref. A fiscal crisis is looming for many US cities – https://theconversation.com/a-fiscal-crisis-is-looming-for-many-us-cities-249436

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI: BsvCloud Launches 2025 Mining Contracts, Offering New Passive Income Opportunities through Cloud Mining

    Source: GlobeNewswire (MIL-OSI)

    UXBRIDGE, United Kingdom, Feb. 20, 2025 (GLOBE NEWSWIRE) — BsvCloud, a leading cloud mining platform, has announced the launch of its new mining contracts for 2025. These updated contracts provide users with an accessible and eco-friendly way to earn passive income through cryptocurrency mining without the need for complex setups or large initial investments.

    Flexible and Accessible Mining Contracts
    BsvCloud’s new 2025 mining contracts offer flexible investment plans starting at just $200, making it easier for both beginners and experienced investors to start mining. Users can choose from different contract tiers that match their financial goals, with the added benefit of renewable energy-powered mining operations.

    Sustainable Cloud Mining
    BsvCloud’s 2025 contracts focus on sustainability by using renewable energy, such as solar and wind power, for mining. This reduces costs and minimizes the environmental impact of cryptocurrency mining, supporting greener energy practices.

    User-Friendly and Efficient Mining

    The new contracts come with a range of benefits designed to enhance the mining experience. BsvCloud users can enjoy:

    • Flexible Investment Options: Plans starting at just $200, making it easy for anyone to get involved.
    • High Profitability: The platform offers competitive returns, enabling users to earn passive income daily.
    • Fast Payouts: Withdrawals are processed quickly, often within five minutes of the request.
    • 24/7 Customer Support: BsvCloud provides round-the-clock support to assist users with any issues they may encounter.

    How to Get Started with BsvCloud

    Getting started with BsvCloud is simple. New users can sign up for free and begin earning passive income through cloud mining in just a few steps:

    1.   Sign Up: Create a free account on the BsvCloud platform. Sign up bonus 15$.
    2.   Choose a Mining Plan: Select an investment plan based on your budget and goals.

    3.   Start Mining: BsvCloud will begin mining on your behalf, and you can start earning passive income immediately.

    The Future of Cloud Mining with BsvCloud

    As BsvCloud continues to grow, it remains committed to providing its users with reliable, efficient, and sustainable cloud mining opportunities. With over 500,000 users worldwide, the platform is positioned as a leading choice for those looking to earn passive income through cryptocurrency mining.

    For more information about BsvCloud and to explore its new 2025 mining contracts, visit www.bsvcloud.com.

    About BsvCloud
    BsvCloud is a leading cloud mining platform that offers users the opportunity to earn passive income through mining popular cryptocurrencies. Founded in 2017, BsvCloud has grown to serve over 500,000 users worldwide, providing efficient, eco-friendly, and profitable cloud mining services.

    Media Contact:

    Website: https://bsvcloud.com/
    Company: BsvCloud
    Contact person: Tomas Clark
    Email: info@bsvcloud.com

    Disclaimer: This press release is provided by BsvCloud. The statements, views, and opinions expressed in this content are solely those of the sponsor and do not necessarily reflect the views of this media platform. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered as financial, investment, or trading advice. Investing in cloud mining and related opportunities involves significant risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions.

    Photos accompanying this announcement are available at

    https://www.globenewswire.com/NewsRoom/AttachmentNg/406dd7bb-d1d0-4022-81d4-45246fb38f4e

    https://www.globenewswire.com/NewsRoom/AttachmentNg/745582ec-13f9-419a-8d93-da12ec441a0e

    https://www.globenewswire.com/NewsRoom/AttachmentNg/1a7fc51d-b7c7-4e8f-a49b-1917ef90baeb

    The MIL Network –

  • MIL-OSI Video: Debating Migration and Demography | World Economic Forum Annual Meeting 2025

    Source: World Economic Forum (video statements)

    While some estimate that migration could help generate over $20 trillion a year in economic output by 2050, others worry about the financial and systemic pressure it can put governments and local communities.

    In this town hall, leaders debate the effects of migration at a local, national and global level.

    Speakers: Miguel Medina, Thérèse Kayikwamba Wagner, Amy Pope, Sasha Vakulina

    The 55th Annual Meeting of the World Economic Forum will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency and accountability.

    This Annual Meeting will welcome over 100 governments, all major international organizations, 1000 Forum’s Partners, as well as civil society leaders, experts, youth representatives, social entrepreneurs, and news outlets.

    The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

    World Economic Forum Website ► http://www.weforum.org/
    Facebook ► https://www.facebook.com/worldeconomicforum/
    YouTube ► https://www.youtube.com/wef
    Instagram ► https://www.instagram.com/worldeconomicforum/
    X ► https://twitter.com/wef
    LinkedIn ► https://www.linkedin.com/company/world-economic-forum
    TikTok ► https://www.tiktok.com/@worldeconomicforum
    Flipboard ► https://flipboard.com/@WEF

    #Davos2025 #WorldEconomicForum #wef25

    https://www.youtube.com/watch?v=yayHWUHR-b4

    MIL OSI Video –

  • MIL-OSI: Climb Global Solutions Sets Fourth Quarter and Full Year 2024 Conference Call for March 6, 2025 at 8:30 a.m. ET

    Source: GlobeNewswire (MIL-OSI)

    EATONTOWN, N.J., Feb. 20, 2025 (GLOBE NEWSWIRE) — Climb Global Solutions, Inc. (NASDAQ:CLMB) (“Climb” or the “Company”), a value-added global IT channel company providing unique sales and distribution solutions for innovative technology vendors, will host a conference call on Thursday, March 6, 2025 at 8:30 a.m. Eastern time to discuss its financial results for the fourth quarter and full year ended December 31, 2024. The Company’s results will be reported in a press release prior to the call.

    Climb’s management will host the conference call, followed by a question-and-answer period. Interested parties may submit questions to the Company prior to the call by emailing CLMB@elevate-ir.com.

    Date: Thursday, March 6, 2025
    Time: 8:30 a.m. Eastern time
    Toll-free dial-in number: (800) 225-9448
    International dial-in number: (203) 518-9708
    Conference ID: CLIMB
    Webcast: Climb’s Q4 & FY 2024 Conference Call

    If you have any difficulty registering or connecting with the conference call, please contact Elevate IR at (720) 330-2829.

    The conference call will also be available for replay on the investor relations section of the Company’s website at www.climbglobalsolutions.com.

    About Climb Global Solutions

    Climb Global Solutions, Inc. (NASDAQ:CLMB) is a value-added global IT distribution and solutions company specializing in emerging and innovative technologies. Climb operates across the US, Canada and Europe through multiple business units, including Climb Channel Solutions, Grey Matter and Climb Global Services. The Company provides IT distribution and solutions for companies in the Security, Data Management, Connectivity, Storage & HCI, Virtualization & Cloud, and Software & ALM industries.

    Additional information can be found by visiting www.climbglobalsolutions.com.

    Company Contact

    Matthew Sullivan
    Chief Financial Officer
    (732) 847-2451
    MatthewS@ClimbCS.com

    Investor Relations Contact

    Sean Mansouri, CFA or Aaron D’Souza
    Elevate IR
    (720) 330-2829
    CLMB@elevate-ir.com

    The MIL Network –

  • MIL-OSI Russia: The Polytechnic University opened a board of Endowment Fund benefactors

    Translartion. Region: Russians Fedetion –

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    On the Polytechnic’s birthday, the traditional meeting of ambassadors and patrons was held with special solemnity. Its culmination was the opening of the board of benefactors of the SPbPU Endowment Fund.

    Before this, a festive award ceremony was held in the foyer of the Technopolis Polytech research building to honor the most active graduates and employees of the university, who contribute to its successful development and strengthening of its position among higher educational institutions of the city and the country.

    Opening the meeting, Vice-Rector for Youth Policy and Communication Technologies Maxim Pasholikov congratulated the guests on the birthday of the Polytechnic University and thanked them for their loyalty and love for their alma mater.

    “I am glad that today those who provide the university with significant financial, administrative, and informational assistance have gathered here again,” said Maxim Aleksandrovich. “This is a good initiative to annually recognize the contribution of benefactors and graduates to the development of the university and the implementation of its initiatives. The endowment fund is the calling card of a modern world-class university. As of the end of 2024, we have collected more than 110 million rubles. They are under the trust management of the management company, and the income we receive is directed to the development of the Polytechnic University. Endowments for institutes are being actively created. We really hope for the support of our graduates in forming the fund and are grateful for the assistance that has already been provided.”

    In 2024, when Polytechnic celebrated not only its anniversary, but also the anniversary of the university’s founder, an outstanding Russian statesman, financier and diplomat Sergei Yulievich Witte, a commemorative medal in his name was established at the university. It will be awarded to multiple benefactors of the SPbPU Endowment Fund for Development.

    The first medals for long-term fruitful cooperation and significant contribution to the Endowment Fund were received by Bank Saint Petersburg and VTB Bank.

    For assistance in developing the University Endowment Fund, the following were awarded the Witte Medal and the University’s gratitude: Gazprom Transgaz Saint Petersburg LLC, Streamer NPO, and Arman Group.

    The following were personally awarded for their contribution to the development of the SPbPU Endowment Fund: Mikhail Silnikov, General Director and General Designer of NPO Spetsmaterialy; Vera Konsetova, General Director of AFK-AUDIT; Sergei Kopytov, First Deputy Chairman of the Board of the Petersburg Social Commercial Bank; Mikhail Grekov, Vice-Rector for Work with Branches of the Emperor Alexander I St. Petersburg State University of Railway Engineering; and Oleg Koval.

    The university staff also made a significant contribution to the development of the Endowment Fund: Vice-Rector for Economics and Finance of the Polytechnic University Alexander Rechinsky; Advisor to the Rector’s Office Vladimir Glukhov; Director of the Physics and Mechanical Institute Nikolay Ivanov; Director of the Higher School of Industrial Management Olga Kalinina; Director of the Higher School of Engineering and Economics Dmitry Rodionov; Director of the Center for Continuing Professional Education of the Advanced Engineering School “Digital Engineering” Sergey Salkutsan; Leading Specialist of the SPbPU History Museum Alexander Kobyshev.

    For contribution to the implementation cooperation agreements between the university and the State Hermitage Museum and active participation in the activities of the Polytechnic Ambassadors Community in 2024, the following were awarded the university’s gratitude: Deputy Director General of the State Hermitage Museum Alexey Bogdanov and the head of the ventilation, air conditioning, control and measuring instruments and automation systems sector of the Operations Department of the Staraya Derevnya Restoration and Storage Center of the State Hermitage Museum Kirill Tambovtsev.

    Also, for promoting the development of the community of ambassadors and the SPbPU Endowment Fund in 2024, awards were received by the head of the production preparation bureau of the chief technologist’s department of JSC Kronstadt Marine Plant Dmitry Gomonov and the head of the process automation department of the Information Systems Department of BorisHof Holding LLC, Ruslan Talipov.

    In 2024, in memory of Sergei Yulyevich Witte, the Academic Council decided to restore the Witte scholarships from the income from the management of the Polytechnic Endowment Fund. In accordance with historical tradition, the scholarships will be awarded to four students who have passed the next session with excellent marks and successfully passed the competitive selection. The scholarship will be 10,000 rubles, it will be paid for five months, and then, based on the results of the next session, the commission will determine new winners.

    The first Witte scholarship recipients were Yaroslav Kiyashko (Institute of Computer Science and Cybersecurity), Konstantin Fedorov (Institute of Energy), Anna Danilova (Institute of Industrial Management, Economics and Trade) and Natalia Poluektova (Institute of Industrial Management, Economics and Trade). At the ceremony, they were presented with scholarship certificates, memorable gifts from the university, and the girls were also given flowers.

    After the ceremony, the guests were invited to the opening of the board of benefactors of the SPbPU Endowment Fund. It is located next to the model of the Polytechnic University campus. The board reflects information about all major donors of the Endowment Fund since the year of its foundation.

    “Our fund has existed since 2012, and it was created for eternity. Therefore, if we participate in its work, it means that we are in touch with eternity,” said Yuri Levchenko, Chairman of the Board of Trustees of the Endowment Fund, Senior Vice President of VTB Bank. “Our fund, of course, is still small, compared to, say, Harvard University, but every year it grows thanks to your efforts, for which we are very grateful. And I encourage everyone to actively participate in this work, involve friends and acquaintances. We hope that our graduates will become successful businessmen, government officials, creative people, and will never forget the institute, and our fund will grow.”

    Vice-Rector Maxim Pasholikov explained that the plaque is removable, and if there are more donors, then by the university’s next birthday their names and the names of their companies will also appear in this place of honor.

    Photo archive

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

    MIL OSI Russia News –

  • MIL-OSI Russia: Marat Khusnullin: An industrial park is planned to be created in Alchevsk, LPR

    Translartion. Region: Russians Fedetion –

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

    To ensure sustainable development of new regions, measures are taken to ensure long-term growth and unlock the potential of the territories. Master plans are developed and applied for their comprehensive development. Thus, according to this spatial planning document, in the city of Alchevsk in the Luhansk People’s Republic, along with the renovation of the housing stock and the modernization of the infrastructure, it is planned to create an industrial park. This was reported by Deputy Prime Minister Marat Khusnullin.

     

    “The development of regions involves making decisions that will work effectively in the long term. Ultimately, all changes should improve the quality of life of people. One of the tools that allows for a structural approach to the issue is a master plan. We apply its capabilities in new regions. For example, when developing a master plan for the city of Alchevsk in the LPR, the Unified Institute of Spatial Planning took into account, first of all, its historical industrial significance and advantageous transport location. That is why a decision was made to create an industrial park with an area of 82.5 hectares,” the Deputy Prime Minister said.

     

    Marat Khusnullin added that the master plan as a whole proposes the development of the leading sector of the Alchevsk economy – metallurgy, as well as sectors that have the potential to be integrated into existing production chains. In this regard, it is planned to accelerate the restoration of the production capacities of the city-forming enterprise – the Alchevsk Metallurgical Plant, the construction of two transport and logistics centers with a total area of 121.5 thousand square meters, as well as a section of the federal highway “Northern Bypass of Alchevsk” with a length of more than 28 km, which will eliminate the movement of transit vehicles through the city.

     

    “In Alchevsk, major repairs of existing and construction of new apartment buildings are planned. Each district will have its own public and business center with service, cultural and sports facilities. This will relieve the core of the city center, while preserving its historical scale, the structure of streets and blocks,” added Dina Sattarova, director of the Federal Autonomous Institution “Unified Institute of Spatial Planning of the Russian Federation.”

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

    MIL OSI Russia News –

  • MIL-OSI: Growth in Originations Expected Across Multiple Credit Products in 2025

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Feb. 20, 2025 (GLOBE NEWSWIRE) — Despite recent data calling into question the possibility of interest rate cuts over this year, new account originations across several credit products are still expected to grow in 2025. These findings were released today in conjunction with TransUnion’s (NYSE: TRU) newly issued Q4 2024 Quarterly Credit Industry Insights Report (CIIR).

    Following multiple years of depressed origination growth, largely driven by stubbornly high inflation, rising interest rates and elevated home and vehicle prices, new auto, mortgage, and unsecured personal loans are expected to see gains in 2025. A myriad of factors, not the least of which is lenders’ continued caution in their underwriting strategies, will likely temper the overall rate of growth across these products.

    “The Federal Reserve has signaled that it will not rush into interest rate cuts, potentially keeping rates at a level that could give consumers pause,” said Jason Laky, executive vice president and head of financial services at TransUnion. “However, we still believe that many consumer credit products will have higher originations in 2025. This will range from modest growth in auto and unsecured personal loans to more significant increases in mortgage.”

    Originations are Expected to Grow YoY Across Many Credit Products in 2025

    Loan Product Percent Change in Origination Growth
    Auto +2.7%
    Mortgage (Purchase) +13.3%
    Unsecured Personal Loans +5.7%

    Changes in originations are also impacted by trends within these lending products. A deeper dive into the origination picture for each loan product can be found below:

    • One key driver of the forecasted growth in auto originations is new light vehicle sales, which have been forecasted to grow 2.8% in 2025. However, forecasted growth may be tempered as industry and consumers navigate potential policy shifts introduced by the new administration. In addition, relatively high interest rates, inflation remaining above 2%, and a still recovering used vehicle supply may also mitigate auto originations growth.
    • Mortgage originations are forecast to increase from approximately 4.6 million in 2024 to approximately 5.7 million in 2025, with most of those being purchase originations (~3.8 million).
    • Unsecured personal loan lenders are expected to continue expanding lending to riskier tiers in 2025 as the macro economy continues to moderate. Originations are expected to increase to approximately 20.8 million over the year.

    TransUnion’s Q4 2024 Credit Industry Insights Report sees continued signs of stabilization across consumer credit products

    A number of the signs of a more stable consumer credit environment that emerged in Q3 2024 have continued over the past quarter across the credit spectrum. Originations saw some measure of YoY growth in the most recent quarter for which data are available for auto, mortgage, and unsecured personal loans. In credit cards, originations saw a smaller YoY decline than in recent quarters. Delinquencies ticked down across some credit products, although others saw increases. Balances saw increases that were more in line with rates seen prior to 2020 than in the years since.

    “In Q4 2024, we saw several signals inching towards a return to more typical patterns within the consumer credit market,” said Michele Raneri, vice president and head of research at TransUnion. “Originations ticked up across mortgage and auto and saw more significant growth in unsecured personal loans. In contrast, delinquencies presented more of a mixed bag, seeing increases in auto and mortgage, while at the same time decreasing for unsecured personal loans and credit cards. We will be looking for additional signs of improved performance in these markets moving forward.”

    To learn more about the latest consumer credit trends, register for the Q4 2024 Quarterly Credit Industry Insights Report webinar. Read on for more specific insights about credit cards, personal loans, auto loans and mortgages.

    Serious consumer-level delinquencies decline year-over-year for first time since 2020 in card

    Q4 2024 CIIR Credit Card Summary

    More signs of a return to equilibrium were present in the credit card market in Q4 2024. Consumer-level 90+ days past due delinquencies ticked down by 3 basis points YoY to 2.56%, which marked the first annual decrease since 2020. Similarly, account-level delinquencies fell by 4 basis points YoY to 1.46%. This is likely in part due to the continuation of a more conservative origination strategy among lenders. Originations saw a 4.8% YoY decline in Q3 2024. This marks the sixth consecutive quarter of declining new account volumes on an annual basis. Despite that, the slowdown in originations is decelerating, with the latest quarter seeing the smallest YoY decline since Q2 2023. Super prime was the only risk tier to see originations growth in Q3 2024, at 1.2% YoY. While originations have slowed, balances continued to grow to record highs, increasing 5.7% to $1.1 trillion. This growth was seen across risk tiers, though the pace of balance growth has returned closer to pre-2020 levels.

    Instant Analysis

    “Prior predictions had anticipated a moderation in delinquency rates in Q1 2025. The peak was pulled forward by the effect of recalibrated risk strategies and disproportionate originations in prime and above segments. At the same time, there are signs that consumer demand for credit cards may be increasing, as year-over-year originations declines are getting smaller, and some risk tiers, such as super prime, are increasing for the first time in several quarters.”

    – Paul Siegfried, senior vice president and credit card business leader at TransUnion

    Q4 2024 Credit Card Trends

    Credit Card Lending Metric (Bankcard) Q4 2024 Q4 2023 Q4 2022 Q4 2021
    Number of Credit Cards (Bankcards) 561.5 million 542.6 million 518.4 million 483.7 million
    Borrower-Level Delinquency Rate (90+ DPD) 2.56% 2.59% 2.26% 1.48%
    Total Credit Card Balances $1.11 Trillion $1.05 Trillion $931 billion $785 billion
    Average Debt Per Borrower $6,580
    		 $6,360 $5,805 $5,139
    Number of Consumers Carrying a Balance 173.1 million 169.9 million 166.0 million 159.0 million
    Prior Quarter Originations* 19.1 million 20.1 million 21.6 million 19.8 million
    Average New Account Credit Lines* $5,702
    		 $5,673 $5,226 $4,468


    *Note: Originations are viewed one quarter in arrears to account for reporting lag.
    For more credit card industry information, click here for episodes of Extra Credit: A Card and Banking Podcast by TransUnion.

    Growth in unsecured personal loan originations leads to record volumes, total balances

    Q4 2024 CIIR Unsecured Personal Loan Summary

    The positive trend in unsecured personal loans continued for another quarter. Originations for Q3 2024, the most recent quarter of data available, stood at 5.8 million – an increase of 15% year-over-year. This marked the third consecutive quarter of YoY growth and the first quarter of double-digit growth in two years (since Q2 2022). All risk tiers contributed to this expansion, especially the super prime and the below prime tiers, which grew around 17% compared to the prior year. This growth drove records, per Q4 2024 data, in the volume of outstanding loans, in total balances, and in the number of consumers with a balance. Concurrently, average debt per borrower was lower year-over-year in Q4 2024, driven by the prime and below risk tiers. Finally, 60+ DPD borrower-level delinquencies fell year-over-year for Q4 2024 to 3.57% — 33 basis points below the same quarter last year. The decline was due to risk mix shift as lower risk super prime borrowers continued to grow as a share of total loans, as well as from delinquencies among subprime borrowers which fell 136 basis points year-over-year.

    Instant Analysis

    “The unsecured personal loan market continued its rebound with originations growing year-over-year across risk tiers, and with strong double-digit growth for most of them. Additionally, borrower-level delinquencies still saw declines year-over-year. This was due to loans being issued across the credit spectrum – especially super prime – and from the subprime delinquency rate continuing to fall even as lending has opened back up to this segment. With the growth to date and optimism from lenders, we expect to see this as the beginning of a period of expansion.”

    – Liz Pagel, senior vice president of consumer lending at TransUnion

    Q4 2024 Unsecured Personal Loan Trends

    Personal Loan Metric Q4 2024 Q4 2023 Q4 2022 Q4 2021
    Total Balances $251 billion $245 billion $222 billion $167 billion
    Number of Unsecured Personal Loans 29.6 million 28.1 million 27.0 million 22.8 million
    Number of Consumers with Unsecured Personal Loans 24.5 million 23.5 million 22.5 million 19.9 million
    Borrower-Level Delinquency Rate (60+ DPD) 3.57% 3.90% 4.14% 3.00%
    Average Debt Per Borrower $11,607 $11,773 $11,116 $9,622
    Average Account Balance $8,496 $8,704 $8,195 $7,328
    Prior Quarter Originations* 5.8 million 5.0 million 5.6 million 5.1 million


    *Note: Originations are viewed one quarter in arrears to account for reporting lag.
     Click here for additional unsecured personal loan industry metrics.

    Mortgage delinquencies up year-over-year, yet remain low by historical standards

    Q4 2024 CIIR Mortgage Loan Summary

    Originations grew 7% YoY in Q3 2024, the most recent quarter for which data are available. This represented the third consecutive quarter in which mortgage originations were either flat or showed growth. Purchase originations continued to drive this growth, accounting for 82% of all originations for the quarter. This compares to a 68% average Q3 purchase share in the five years pre-pandemic. Rate and term refinance originations also played a role in this growth, seeing significant YoY growth of 174% in Q3 2024. This doubled the counts from the prior quarter as homeowners who recently opened a mortgage took advantage of the lowest rates in two years. Account-level delinquencies of 60+ days past due stood at 1.38% for Q4 2024. This remains a trend worth monitoring in coming quarters, particularly as the non-mortgage debt of homeowners continues to grow, up 7% YoY in Q3 2024.

    Instant Analysis

    “Despite recent quarters of growth, origination volumes continue to be depressed by historical standards. Recent Federal Reserve indications that interest rate reductions may occur more slowly may result in decelerated growth in 2025. Year-over-year increases in delinquency continue to be worth monitoring closely. Yet, even despite a relatively steady series of year-over-year increases in recent quarters, the rate remains extremely low relative to historical standards.”

    – Satyan Merchant, senior vice president, automotive and mortgage business leader at TransUnion

    Q4 2024 Mortgage Trends

    Mortgage Lending Metric Q4 2024 Q4 2023 Q4 2022 Q4 2021
    Number of Mortgage Loans 53.1 million 52.9 million 52.6 million 51.2 million
    Consumer-Level Delinquency Rate (60+ DPD) 1.29% 1.03% 0.89% 0.75%
    Prior Quarter Originations* 1.2 million 1.2 million 1.5 million 3.4 million
    Average Loan Amounts
    of New Mortgage Loans*    		 $354,943 $337,977 $334,339 $311,743
    Average Balance per Consumer $263,923 $258,167 $252,212 $237,539
    Total Balances of All Mortgage Loans $12.2 trillion $12.0 trillion $11.7 trillion $10.7 trillion


    * O    riginations are viewed one quarter in arrears to account for reporting lag.
    Click here for additional mortgage industry metrics. Click here for a Q4 2024 mortgage industry infographic.

    Auto originations up year-over-year driven by growth in super prime

    Q4 2024 CIIR Auto Loan Summary

    Originations were up 1.5% YoY in Q3 2024, although they still lagged 14.8% below the pre-pandemic Q3 2019. Super prime borrower originations led the way, up 8.5% YoY for the quarter. This growth was likely driven in part by increasingly available new inventory and increases in incentives. Other risk tiers saw YoY declines in originations, and when compared to 2019 levels, originations remained down across all risk tiers, with subprime seeing the largest decline (down 27.6%). Likely also driven in part by incentives, leasing continued its rebound from its Q4 2022 low (17%), at 24% of new vehicle registrations in Q4 2024. Consumer-level delinquencies of 60+ days past due continued to tick up in Q4 2024 to 1.67%. This represented an increase of 6 basis points YoY. New vehicle vintages continued to show delinquency performance in Q4 2024 consistent with pre-pandemic periods of 2018/2019. Used vehicle vintage delinquencies were slightly improved as compared to the 2022 cohort but remained worse than 2018/2019.

    Instant Analysis

    “Super prime was the underlying driver of auto originations growth in Q4 2024, and will likely continue in 2025. Affordability continues to be an issue for the used vehicle market and for below prime consumers, impacted by higher rates and cross-wallet inflation. This is unlikely to materially improve until we have more certainty around used vehicle inventory and interest rates. Delinquencies have now inched past highs previously seen in 2009, primarily driven by increases among below-prime risk tiers, and we will be monitoring them moving forward.”

    – Satyan Merchant, senior vice president, automotive and mortgage business leader at TransUnion

    Q4 2024 Auto Loan Trends

    Auto Lending Metric Q4 2024 Q4 2023 Q4 2022 Q4 2021
    Total Auto Loan Accounts 80.4 million 80.4 million 80.2 million 81.4 million
    Prior Quarter Originations1 6.4 million 6.3 million 6.5 million 7.2 million
    Average Monthly Payment NEW2 $749 $751 $729 $655
    Average Monthly Payment USED2 $523 $531 $527 $494
    Average Balance per Consumer $24,373 $23,945 $22,998 $21,298
    Average Amount Financed on New Auto Loans2 $42,023 $41,054 $41,941 $40,489
    Average Amount Financed on Used Auto Loans2 $26,135 $26,380 $27,442 $27,346
    Consumer-Level Delinquency Rate (60+ DPD) 1.67% 1.61% 1.43% 1.05%


    1    Note: Originations are viewed one quarter in arrears to account for reporting lag.
    2Data from S&P Global MobilityAutoCreditInsight, Q4 2024 data only for months of October & November.
    Click here for additional auto industry metrics. Click here for a Q4 2024 auto industry infographic.

    For more information about the report, please register for the Q4 2024 Credit Industry Insight Report webinar.

    About TransUnion (NYSE: TRU)

    TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.

    http://www.transunion.com/business

    Contact Dave Blumberg
      TransUnion
       
    E-mail dblumberg@transunion.com
       
    Telephone  312-972-6646

    The MIL Network –

  • MIL-OSI: Aterian Issues Letter to Shareholders

    Source: GlobeNewswire (MIL-OSI)

    SUMMIT, N.J., Feb. 20, 2025 (GLOBE NEWSWIRE) — Aterian, Inc. (Nasdaq: ATER) (“Aterian” or the “Company”), a technology-enabled consumer products company, today issued the following letter to shareholders from Arturo Rodriguez, Chief Executive Officer, and the Company’s Board of Directors.

    Dear Fellow Shareholders:

    While this is our first time writing to you directly, you are always at the forefront of our minds.

    Over the past 18 months, our team has undertaken a comprehensive reassessment of nearly every facet of Aterian’s business model as part of our turnaround strategy. This deep evaluation of our brand portfolio, marketing strategies, inventory management, marketplace operations, supply chain, and overall fixed costs laid the foundation for the strategic initiatives we have implemented. By successfully executing these changes, we have focused, simplified, and stabilized the Company, positioning Aterian to drive long-term shareholder value.

    Although there is still work to be done, we believe that 2025 marks the start of a new and promising chapter for Aterian as we pivot from stabilizing our operations towards sustainable growth.

    2024: A Year of Achievement

    2024 was a year of achievement as we delivered on many of our key objectives which we announced in late 2023. We streamlined our product portfolio to six highly regarded foundational brands—Squatty Potty, hOmeLabs, PurSteam, Mueller Living, Photo Paper Direct, and Healing Solutions—that deliver quality, affordable products to consumers. We also simplified our go-to-market and marketing strategies, improved efficiencies in our marketplace account structures and our supply chain and transitioned from an internally developed tech platform to a best-in-class third-party model, thereby increasing our efficiency, nimbleness, and cost savings. Additionally, we improved our working capital profile by completing our inventory rightsizing and renegotiating and extending our credit facility.

    In late 2024, we launched several new products under our PurSteam and Mueller Living brands, marking an exciting return to our product development efforts. Organic product launches remain an important component of our growth strategy, and we expect to continue these efforts throughout 2025, with a focus on the second half of the year.

    We also continue to deliver on our commitment to implementing an omnichannel sales approach to reach new consumers and remain competitive in the ever-evolving e-commerce landscape. In the fourth quarter of 2024, we began selling products from our hOmeLabs, PurSteam, and Mueller Living brands on Target+, the invitation-only online marketplace of Target Corporation, while expanding product offerings of Squatty Potty on Target+. This complements our established marketplace strength on Amazon.com, Walmart.com, and Mercado Libre in Mexico, as well as our direct-to-consumer websites. We also recently refreshed our PurSteam and Mueller Living websites, modernizing them to match the recent updates of those brands.

    Our Efforts are Yielding Tangible Results

    Our progress was evident in our third quarter 2024 year to date financial results. When compared to the same nine-month period in 2023, we generated significant improvements in gross margin and contribution margin, and narrowed our net loss by $56.3 million, or 84%.

    We also reported positive adjusted EBITDA for both the second and third quarters of 2024.

    At September 30, 2024, our cash flow from operations was $2.2 million, a $10.6 million improvement from the same period in 2023, our credit facility balance declined by $4.4 million from December 31, 2023, and we had cash on hand of $16.1 million.

    Fourth Quarter 2024 Preliminary Results

    This momentum carried into the final quarter of the year. For the fourth quarter of 2024, we now expect to report net revenue between $24.2 million and $25.0 million which is at the higher end of our previous guidance of $22.5 million to $25.5 million. As previously disclosed, we continue to expect that this level of revenue will produce approximately breakeven adjusted EBITDA.

    We expect that our cash position at December 31, 2024 will improve to approximately $18 million from $16.1 million at September 30, 2024, while our credit facility balance is expected to increase slightly from $6.7 million at September 30, 2024 to approximately $6.9 million at December 31, 2024.

    Full Year 2025: From Stability to Growth

    Looking ahead to 2025, we are confident that Aterian will evolve into a growth company, driven by our omnichannel expansion initiatives, organic product launches, and a commitment to prudent capital allocation strategies. In comparison to 2024, we expect to produce higher revenue, along with continuing improvements in operating efficiencies and adjusted EBITDA. More importantly, we believe that our efforts to date have placed us firmly on the path to producing these results on a sustainable basis.

    We believe we have taken a conservative approach in our expectations for 2025 by considering both the potential impact of increased tariffs on Chinese imports, and to a lesser extent, those from Canada, as well as the proactive measures we would implement to mitigate their effects. Our primary strategy to offset these tariffs would be price adjustments on select products, supplemented by additional cost-management initiatives, if deemed necessary. As trade policies evolve, we will continue to monitor developments and adjust our responses, as needed.

    We are continuing our efforts to identify product sourcing alternatives outside of China, wherever possible, in response to the current uncertainty of U.S. trade policies. As we navigate these challenges, we are fortunate to be supported by a strong balance sheet that provides us with the flexibility to adapt as needed while remaining focused on long-term growth and profitability.

    We look forward to providing additional clarity on our plans and outlook for 2025 in connection with our fourth quarter and full year financial results conference call scheduled for mid-March, and keeping you apprised of material developments.

    Looking ahead, the strength of our brands, the influence and accessibility provided by our marketplace relationships, and our passionate, talented and tenacious people will allow us to deliver on our mission to position Aterian to deliver sustainable, long-term shareholder value. We remain grateful for the continuing support of our shareholders. We hope this is the beginning of more frequent communications as we share in the excitement of Aterian’s bright future.

    Best regards,

    Arturo Rodriguez
    Chief Executive Officer

    About Aterian, Inc.
    Aterian, Inc. (Nasdaq: ATER) is a technology-enabled consumer products company that builds and acquires leading e-commerce brands with top selling consumer products, in multiple categories, including home and kitchen appliances, health and wellness and air quality devices. The Company sells across the world’s largest online marketplaces with a focus on Amazon,Walmart and Target in the U.S. and on its own direct to consumer websites. Our primary brands include Squatty Potty, hOmeLabs, Mueller Living, PurSteam, Healing Solutions and Photo Paper Direct. To learn more about Aterian and its brands, visit aterian.io

    Forward Looking Statements
    All statements other than statements of historical facts included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements including, in particular, regarding our expectations for growth in 2025, including our omnichannel expansion initiatives, organic product launches and our capital allocation strategies. These forward-looking statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties and other factors, all of which are difficult to predict and many of which are beyond our control and could cause actual results to differ materially and adversely from those described in the forward-looking statements. These risks include, but are not limited to, those related to our ability to continue as a going concern, our ability to meet financial covenants with our lenders, our ability to maintain and to grow market share in existing and new product categories; our ability to continue to profitably sell the SKUs we operate; our ability to create operating leverage and efficiency when integrating companies that we acquire, including through the use of our team’s expertise, the economies of scale of our supply chain and automation driven by our platform; those related to our ability to grow internationally and through the launch of products under our brands and the acquisition of additional brands; those related to consumer demand, our cash flows, financial condition, forecasting and revenue growth rate; our supply chain including sourcing, manufacturing, warehousing and fulfillment; our ability to manage expenses, working capital and capital expenditures efficiently; our business model and our technology platform; our ability to disrupt the consumer products industry; our ability to generate profitability and stockholder value; international tariffs and trade measures; inventory management, product liability claims, recalls or other safety and regulatory concerns; reliance on third party online marketplaces; seasonal and quarterly variations in our revenue; acquisitions of other companies and technologies and our ability to integrate such companies and technologies with our business; our ability to continue to access debt and equity capital (including on terms advantageous to the Company) and the extent of our leverage; and other factors discussed in the “Risk Factors” section of our most recent periodic reports filed with the Securities and Exchange Commission (“SEC”), all of which you may obtain for free on the SEC’s website at www.sec.gov.

    Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

    Contact: 
    The Equity Group

    Devin Sullivan
    Managing Director
    dsullivan@equityny.com

    Conor Rodriguez
    Associate
    crodriguez@equityny.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/fac8af25-1eb0-4a9b-b114-ed58c424cb02

    The MIL Network –

  • MIL-OSI: FAVO Capital to Attend 14th Annual Global Fund Finance Symposium in Miami

    Source: GlobeNewswire (MIL-OSI)

    FORT LAUDERDALE, Fla., Feb. 20, 2025 (GLOBE NEWSWIRE) — via IBN – FAVO Capital, Inc. (OTC: FAVO), a leading provider of alternative financing solutions for small and mid-sized businesses, is pleased to announce its participation in the 14th Annual Global Fund Finance Symposium, hosted by the Fund Finance Association. The event will take place February 24-25, 2025, in Miami, Florida, and will bring together global leaders in fund finance to discuss emerging trends, industry challenges, and capital markets innovations.

    The Global Fund Finance Symposium serves as a premier platform for networking, deal-making, and thought leadership within the fund finance sector. The event will feature expert-led discussions on capital raising, fund structuring, risk management, and the evolving regulatory landscape.

    FAVO Capital’s President, Shaun Quin, and Chief Strategy Officer, Glen Steward, will attend the symposium to engage with key stakeholders, explore strategic partnerships, and gain insights into the latest developments in fund finance. With a strong commitment to empowering businesses through tailored financial solutions, FAVO Capital continues to expand its expertise and service offerings within the alternative finance space.

    “I am excited for my team’s participation in the Global Fund Finance Symposium to connect with industry leaders driving innovation in the capital markets,” said Vincent Napolitano, CEO of FAVO Capital. “As we continue to scale our operations and provide flexible funding solutions, staying ahead of market trends and regulatory shifts is crucial to delivering value to our clients and partners.”

    Driving Industry Innovation FAVO Capital looks forward to contributing to discussions on emerging financial strategies, the role of private credit in alternative lending, and how technology is reshaping fund financing. The company’s participation underscores its dedication to remaining at the forefront of financial innovation and fostering strong industry relationships.

    About FAVO Capital, Inc.

    FAVO Capital, Inc. (OTC: FAVO) is a private credit firm specializing in alternative financing solutions for small and medium-sized businesses (SMBs) across the United States. Since its inception, FAVO Capital has supported more than 20,000 businesses. FAVO Capital is committed to financial transparency, sustainable growth, and empowering SMBs with flexible funding solutions. Headquartered in Fort Lauderdale, FL, the company also has operations in New York and the Dominican Republic.

    For more information, visit www.favocapital.com and follow us on Linkedin and X

    Investor Alerts
    Interested investors and shareholders are encouraged to sign up for press releases and industry updates by registering for Email Alerts at FAVO News Alerts.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, projections, estimates, and expectations regarding future trends, financial performance, and operational strategies. Forward-looking statements are often identified by words such as “expects,” “anticipates,” “intends,” “believes,” “plans,” “seeks,” “estimates,” “may,” “will,” “should,” or similar expressions.

    These statements are based on the company’s current beliefs, expectations, and assumptions and are subject to significant risks, uncertainties, and changes in circumstances that could cause actual results to differ materially from those expressed or implied. Factors that may cause such differences include, but are not limited to, market conditions, regulatory developments, competition, economic conditions, and the company’s ability to execute its business strategy.

    Actual results may differ materially from those anticipated, and investors are cautioned not to place undue reliance on these forward-looking statements. The company undertakes no obligation to update or revise any forward-looking statements to reflect events, circumstances, or changes in expectations after the date of this press release, except as required by law.

    Company Contact:
    FAVO Capital, Inc.
    4300 N University Drive
    D-105
    Lauderhill, FL 33351

    Investor Relations:
    Scott McGowan
    InvestorBrandNetwork (IBN)
    Phone: 310.299.1717
    ir@favocapital.com

    The MIL Network –

  • MIL-OSI: Sprott Launches Active Gold & Silver Miners ETF

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Feb. 20, 2025 (GLOBE NEWSWIRE) — Sprott Inc. (“Sprott”) (NYSE/TSX: SII) today announced the launch of the Sprott Active Gold & Silver Miners ETF (Nasdaq: GBUG) (the “Fund” or “GBUG”), an actively managed ETF that aims to provide long-term capital appreciation by investing in shares of gold- and silver-focused companies that are engaged in exploring, developing and mining; or royalty and streaming companies engaged in the financing of gold and silver assets. GBUG’s investment strategy is value-oriented and contrarian.

    “Gold and silver mining stocks have historically been correlated to bullion, but in recent years, they’ve lagged the price of the physical metals,” said John Hathaway, CFA, Managing Partner, Sprott and Senior Portfolio Manager, Sprott Asset Management USA, Inc. “Gold and silver mining stocks could offer significant catch-up potential.”

    GBUG is Sprott’s first active ETF, which offers the opportunity to invest in miners with the potential advantage of active stock picking from a global leader with over four decades of specialized expertise in precious metals and mining investments. “Given the operational complexities of mining, investors may benefit from an active ETF strategy focused on long-term business fundamentals and growth potential,” said Whitney George, Chief Executive Officer of Sprott. “The Fund’s investment team is experienced. The team has more than 100 years of collective experience in metals and mining, and it conducts more than 200 management meetings annually, along with periodic site visits to mining operations around the globe.”

    GBUG combines the expertise of active management with the flexibility of an ETF, which includes daily transparency, liquidity and potential tax efficiency. GBUG is one of four Sprott Precious Metals ETFs:

    Sprott Active Gold & Silver Miners ETF Nasdaq: GBUG An actively managed ETF that aims to provide long-term capital appreciation by investing in shares of gold- and silver-focused companies that are engaged in exploring, developing and mining; or royalty and streaming companies engaged in the financing of gold and silver assets. The investment strategy of the Fund is value-oriented and contrarian.
    Sprott Gold Miners ETF NYSE Arca: SGDM Seeks investment results that correspond (before fees and expenses) generally to the performance of its underlying index, the Solactive Gold Miners Custom Factors Index (Index Ticker: SOLGMCFT). The Index aims to track the performance of larger-sized gold companies whose stocks are listed on Canadian and major U.S. exchanges.
    Sprott Junior Gold Miners ETF NYSE Arca: SGDJ Seeks investment results that correspond (before fees and expenses) generally to the performance of its underlying index, the Solactive Junior Gold Miners Custom Factors Index (Ticker: SOLJGMFT). The Index aims to track the performance of small-capitalization gold companies whose stocks are listed on regulated exchanges.
    Sprott Silver Miners & Physical Silver ETF Nasdaq: SLVR Seeks investment results that correspond (before fees and expenses) generally to the performance of its underlying index, Nasdaq Sprott Silver Miners™ Index (NSLVR™), by investing at least 80% of its total assets in securities of NSLVR. The Nasdaq Sprott Silver Miners Index is designed to track the performance of a selection of securities in the silver industry, including silver producers, developers and explorers, and physical silver.

    * Based on Morningstar’s universe of Precious Metals Sector Equity ETFs as of 2/19/2025.

    About Sprott Inc.

    Sprott is a global asset manager focused on precious metals and critical materials investments. We are specialists. We believe our in-depth knowledge, experience and relationships separate us from the generalists. Our investment strategies include Exchange Listed Products, Managed Equities and Private Strategies. Sprott has offices in Toronto, New York, Connecticut and California, and the company’s common shares are listed on the New York Stock Exchange and the Toronto Stock Exchange under the symbol (SII). For more information, please visit www.sprott.com.

    Contact:
    Glen Williams
    Managing Partner
    Investor and Institutional Client Relations
    Direct: (416) 943-43945
    gwilliams@sprott.com

    Dan Gagnier
    Gagnier Communications
    Direct: (646) 569-5897
    sprott@gagnierfc.com

    Important Disclosures

    An investor should consider the investment objectives, risks, charges, and expenses of each fund carefully before investing. To obtain a fund’s Prospectus, which contains this and other information, contact your financial professional, call 1.888.622.1813 or visit SprottETFs.com. Read the Prospectus carefully before investing.

    Exchange Traded Funds (ETFs) are considered to have continuous liquidity because they allow for an individual to trade throughout the day, which may indicate higher transaction costs and result in higher taxes when fund shares are held in a taxable account.

    The funds are non-diversified and can invest a greater portion of assets in securities of individual issuers, particularly those in the natural resources and/or precious metals industry, which may experience greater price volatility. Relative to other sectors, natural resources and precious metals investments have higher headline risk and are more sensitive to changes in economic data, political or regulatory events, and underlying commodity price fluctuations. Risks related to extraction, storage and liquidity should also be considered.

    Shares are not individually redeemable. Investors buy and sell shares of the funds on a secondary market. Only market makers or “authorized participants” may trade directly with the fund, typically in blocks of 10,000 shares.

    The Sprott Active Gold & Silver Miners and Sprott Silver Miners & Physical Silver ETFs are new and have limited operating history.

    Sprott Asset Management USA, Inc. is the Investment Adviser to the Sprott Active Gold & Silver Miners ETF. ALPS Distributors, Inc. is the Distributor for the Sprott ETFs and is a registered broker-dealer and FINRA Member.

    ALPS Distributors, Inc. is not affiliated with Sprott Asset Management USA, Inc.

    © 2025 Sprott Inc. All rights reserved.

    The MIL Network –

  • MIL-OSI: authID’s Biometric Authentication and Groundbreaking Privacy Solutions Spotlighted in New Prism Project Report

    Source: GlobeNewswire (MIL-OSI)

    Dedicated findings highlight authID’s leadership in fast, frictionless, and accurate processes that do not compromise on compliance or privacy

    DENVER, Feb. 20, 2025 (GLOBE NEWSWIRE) — authID (Nasdaq: AUID), a leading provider of biometric identity verification and authentication solutions, today announced its spotlight in a comprehensive independent market report by the Prism Project, which provided important independent analysis of authID’s approach to privacy- and compliance-first biometric authentication. authID was named a “luminary” for its leading-edge platform for biometric identity verification and privacy protection.

    Published by Acuity Market Intelligence, the leading biometric digital identity research consultancy, the report titled “Biometric Digital Identity Prism Custom Report: authID” highlights how authID’s newly launched PrivacyKey™ technology reflects a paradigm shift in biometric authentication, powerfully addressing the critical balance between security and privacy. The platform boasts a one-in-one-billion false-match accuracy rate in identity verification while maintaining zero-knowledge architecture for user data protection by storing no biometric data, and joins authID solutions Proof™ and Verified™ in providing customers with an unparalleled user-identification experience.

    “authID’s technology is interesting because it isn’t just about security – it’s about creating trust in digital interactions,” said Maxine Most, founder of the Prism Project and Acuity Market Intelligence. “As the Prism Project projects a 300% growth in demand for privacy-focused biometric solutions over the next three years, authID’s platform is at the forefront of successfully bridging the gap between robust security and user privacy, and of setting new industry standards for biometric authentication.”

    Key Findings from the Prism Project Report:

    • authID’s innovative approach is “safeguarding the era of digitization” through liveness-supported face biometrics during the onboarding process as well as continuous identity verification.
    • authID’s proven leadership—composed of identity-industry veterans with decades of experience—are driving consistent adaptations and innovations in a rapidly evolving and increasingly critical landscape.
    • The verification speeds, key-management capabilities, and frictionless ease-of-use at the center of authID’s solutions position it as a leader in both performance and customer experience.

    The report highlights authID’s recent partnership with Salus, which aims to enhance credit union services for 120 million underserved individuals, demonstrating the platform’s scalability and real-world impact. authID’s innovative approach has also attracted partnerships with leading financial institutions and technology companies, as well as firms in the staffing and hiring, philanthropy, and customer-service industries.

    “The Prism Project findings validate our commitment to revolutionary identity verification solutions that prioritize both security and user privacy,” said Rhon Daguro, CEO of authID. “Our PrivacyKey™ technology represents a quantum leap forward in biometric authentication, enabling businesses to provide frictionless security while maintaining the highest standards of data protection.”

    The dedicated authID report follows the December 2024 release of the Prism Project’s highly anticipated Biometric Digital Identity Flagship Report, which evaluated more than 250 industry players and identified the key market dynamics driving extraordinary growth in the emerging global digital identity ecosystem. The annual report highlights the critical role of biometrics in reducing fraud, improving operational efficiency, preserving privacy, and enhancing user experience in the era of digital transformation.

    For more information about authID’s biometric authentication solutions, visit www.authid.ai.

    About authID

    authID (Nasdaq: AUID) ensures enterprises “Know Who’s Behind the Device™” for every customer or employee login and transaction through its easy-to-integrate, patented, biometric identity platform. authID quickly and accurately verifies a user’s identity and eliminates any assumption of ‘who’ is behind a device to prevent cybercriminals from compromising account openings or taking over accounts. Combining secure digital onboarding, biometric authentication, and account recovery with a fast, accurate, user-friendly experience, authID delivers biometric identity processing in 700ms. With our ground-breaking PrivacyKey Solution authID delivers all the benefits of biometric identity verification, with a 1-to-1-billion false match rate, while storing no biometric data. Binding a biometric root of trust for each user to their account, authID stops fraud at onboarding, detects and stops deepfakes, prevents account takeover, eliminates password risks and costs, and provides the fastest, most frictionless, and most accurate user identity experience demanded by today’s digital ecosystem. Contact us to discover how authID can help your organization secure your workforce or consumer applications against identity fraud, cyberattacks and account takeover.

    About The Prism Project

    The Prism Project (www.the-prism-project.com) is at the forefront of biometric and digital identity research and education. Created by Acuity Market Intelligence, it bridges the gap between identity technology experts and organizations seeking innovative solutions for digital transformation. Through industry collaboration and comprehensive research, The Prism Project empowers influencers and decision-makers to forge a secure, human-centric digital identity future.

    About Acuity Market Intelligence

    Acuity Market Intelligence (www.acuitymi.com) is a trusted research and strategic advisory firm specializing in biometrics, identity, and digital transformation. Known for delivering actionable insights and proprietary market forecasts, Acuity helps organizations navigate the rapidly evolving digital identity landscape with confidence and clarity.

    For further information, interviews, sponsor inquiries, or to download Prism reports, please visit www.the-prism-project.com or contact info@the-prism-project.com.

    Media Contacts

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

    Investor Relations Contacts
    Investor-Relations@authid.ai

    Gateway Group, Inc.
    Cody Slach and Alex Thompson
    1-949-574-3860
    AUID@gateway-grp.com

    Acuity Market Intelligence
    Maxine Most
    1-303-449-1897
    info@the-prism-project.com

    The MIL Network –

  • MIL-OSI: Monarch Private Capital Powers Into 2025 With Record Growth, Innovation, and a Bold Vision for the Future

    Source: GlobeNewswire (MIL-OSI)

    ATLANTA, Feb. 20, 2025 (GLOBE NEWSWIRE) —  Monarch Private Capital, a national leader in impact investing, is redefining the future of tax equity investments with a landmark year of achievements in 2024. By strategically expanding its efforts across affordable housing, renewable energy, historic rehabilitation, and film, Monarch is not only generating billions in economic development but also driving transformative change in communities nationwide.

    As demand for sustainable solutions and responsible investing reaches new heights, Monarch continues to lead the charge—investing in projects that create jobs, reduce carbon footprints, and provide critical housing solutions. With a new $275 million bond issuance, an innovative solar and battery storage initiative for low-income housing, and record-breaking project investments, Monarch is setting the stage for even greater impact in 2025 and beyond.

    Unprecedented Growth Across Key Sectors In 2024

    • Renewable Energy: 75 new projects, generating $1.5 billion in tax credits and enabling $3.3 billion in clean energy investments—adding 1.7 GW of renewable energy capacity to the U.S. grid. This prevents an annual abatement of 1,530,807 metric tons of CO₂e emissions—equivalent to removing 319,014 homes’ electricity use for one year.
    • Affordable Housing: 23 new projects, unlocking $268 million in tax credits and $747 million in project capital, creating 2,429 affordable homes for families in need.
    • Historic Rehabilitation: 18 revitalization projects, bringing nearly $60 million in tax credits and over $500 million in redevelopment costs, breathing new life into historic properties—many in underserved communities.
    • New $275 Million Bond Issuance: Financing affordable housing projects to help close the housing gap in the U.S., ensuring more families have access to safe, stable homes.
    • Film & Entertainment: Brokered and financed $169 million in state tax credits for film, tv, and digital media, supporting 49 productions nationwide. These projects contributed to over $650 million in local production spending, driving economic growth and energizing creative industries across the U.S.  

    Fueling the Future: Clean Energy Meets Affordable Housing

    With an unwavering commitment to innovation, Monarch is redefining affordable housing through its groundbreaking Monarch Strategic Ventures initiative.

    This forward-thinking program is integrating solar energy and battery storage into low-income housing income (LMI) communities—targeting a 20% reduction in tenant’s electricity bills while making affordable housing more sustainable. But the impact goes beyond cost savings:

    • Creating new construction jobs during installation
    • Generating ongoing employment in operations, maintenance, and administrative roles
    • Reducing environmental impact while improving energy resilience for vulnerable communities
    • Enhancing grid flexibility to balance burgeoning electricity demand growth

    “We don’t just invest in projects—we invest in people, communities, and the future,” said George Strobel, Partner, Co-Founder, and Co-CEO of Monarch Private Capital. “With the launch of our $275 million bond initiative and our expansion into clean energy housing solutions, we are scaling our impact like never before. We are building a stronger, more sustainable, and more equitable future—one investment at a time.”

    Monarch’s Legacy: A $37 Billion Economic Impact

    Since 2005, Monarch Private Capital has turned tax equity investments into real-world impact, delivering:

    • Nearly 50,000 affordable housing units built
    • More than 300,000 jobs created
    • 4.7 GW of renewable energy capacity to the U.S. grid, preventing an annual abatement of 4,157,534 metric tons of CO₂e emissions—equivalent to removing C02 emissions from 866,412 homes’ electricity use for one year 
    • The revitalization of 187 historic buildings
    • $7.2 billion in tax credits leveraged across 42 states and Washington, D.C.
    • $18 billion in project capital mobilized

    And the momentum is only growing.

    By combining financial expertise with a bold vision for the future, Monarch Private Capital is positioned to drive unprecedented impact in 2025—expanding access to affordable housing, accelerating the transition to clean energy, and strengthening communities across America.

    Join the Movement.

    For more information, please contact George Strobel at gstrobel@monarchprivate.com.

    About Monarch Private Capital

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

    CONTACT

    Jane Rafeedie

    Monarch Private Capital

    Jrafeedie@monarchprivate.com

    470-283-8431

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/86597a51-4a44-469c-9ca3-69f62b265d4e

    The MIL Network –

  • MIL-OSI: Greystone Housing Impact Investors Reports Fourth Quarter 2024 and Annual 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    OMAHA, Neb., Feb. 20, 2025 (GLOBE NEWSWIRE) — On February 20, 2025, Greystone Housing Impact Investors LP (NYSE: GHI) (the “Partnership”) announced financial results for the three months and year ended December 31, 2024.

    Financial Highlights

    The Partnership reported the following results as of and for the three months ended December 31, 2024:

    • Net income of $0.39 per Beneficial Unit Certificate (“BUC”), basic and diluted
    • Cash Available for Distribution (“CAD”) of $0.18 per BUC
    • Total assets of $1.58 billion
    • Total Mortgage Revenue Bond (“MRB”) and Governmental Issuer Loan (“GIL”) investments of $1.25 billion

    The difference between reported net income per BUC and CAD per BUC is primarily due to the treatment of unrealized gains on the Partnership’s interest rate derivative positions. Unrealized gains of approximately $7.0 million are included in net income for the three months ended December 31, 2024. Unrealized gains are a result of the impact of increased market interest rates on the calculated fair value of the Partnership’s interest rate derivative positions. Unrealized gains and losses do not affect our cash earnings and are added back to net income when calculating the Partnership’s CAD. The Partnership received net cash from its interest rate derivative positions totaling approximately $1.3 million during the fourth quarter.

    The Partnership reported the following results for the year ended December 31, 2024:

    • Net income of $0.76 per BUC, basic and diluted
    • CAD of $0.95 per BUC

    In December 2024, the Partnership announced that the Board of Managers of Greystone AF Manager LLC declared a regular quarterly distribution to the Partnership’s BUC holders of $0.37 per BUC. The distribution was paid on January 31, 2025, to BUC holders of record as of the close of trading on December 31, 2024.

    Management Remarks

    “2024 was a challenging year from a number of different perspectives,” said Kenneth C. Rogozinski, the Partnership’s Chief Executive Officer. “The conditions in the multifamily markets, both higher interest rates and operating expenses, presented challenges to our joint venture equity investments. Interest rate volatility also impacted the efficiency of some of our securitization transactions. However, we are encouraged by the opportunities that we are starting to see in 2025. The dedicated pool of capital that we have from the new BlackRock construction lending joint venture is a powerful new tool for us to serve our affordable housing developer relationship base.”

    Recent Investment and Financing Activity

    The Partnership reported the following updates for the fourth quarter of 2024:

    • Advanced funds on MRB and taxable MRB investments totaling $36.8 million.
    • Advanced funds on GIL, taxable GIL and property loan investments totaling $32.0 million.
    • Advanced funds to joint venture equity investments totaling $11.2 million.
    • Received proceeds from the sale of an MRB totaling $11.5 million.
    • Entered into the 2024 PFA Securitization Transaction representing fixed rate, matched term, non-recourse and non-mark to market debt financing totaling $75.4 million.

    In January 2025, the Partnership received proceeds from the sale of Vantage at Tomball located in Tomball, Texas, totaling $14.2 million, inclusive of the Partnership’s initial investment commitment made in August 2020. The Partnership estimates it will not recognize any gain, loss, or CAD upon sale.

    Investment Portfolio Updates

    The Partnership announced the following updates regarding its investment portfolio:

    • All MRB and GIL investments are current on contractual principal and interest payments and the Partnership has received no requests for forbearance of contractual principal and interest payments from borrowers as of December 31, 2024.
    • The Partnership continues to execute its hedging strategy, primarily through interest rate swaps, to reduce the impact of changing market interest rates. The Partnership received net payments under its interest rate swap portfolio of approximately $1.3 million and $6.5 million during the three months and year ended December 31, 2024, respectively. From January 1, 2023 through December 31, 2024, the Partnership received net swap payments totaling $12.3 million or approximately $0.53 per BUC.
    • Six joint venture equity investment properties have completed construction, with three properties having previously achieved 90% occupancy. Four of the Partnership’s joint venture equity investments are currently under construction or in development, with none having experienced material supply chain disruptions for either construction materials or labor to date.

    Earnings Webcast & Conference Call

    The Partnership will host a conference call for investors on Thursday, February 20, 2025 at 4:30 p.m. Eastern Time to discuss the Partnership’s Fourth Quarter and full-year 2024 results.

    For those interested in participating in the question-and-answer session, participants may dial-in toll free at (877) 407-8813. International participants may dial-in at +1 (201) 689-8521. No pin or code number is needed.

    The call is also being webcast live in listen-only mode. The webcast can be accessed via the Partnership’s website under “Events & Presentations” or via the following link:
    https://event.choruscall.com/mediaframe/webcast.html?webcastid=T0wdPGmd

    It is recommended that you join 15 minutes before the conference call begins (although you may register, dial-in or access the webcast at any time during the call).

    A recorded replay of the webcast will be made available on the Partnership’s Investor Relations website at http://www.ghiinvestors.com.

    About Greystone Housing Impact Investors LP

    Greystone Housing Impact Investors LP was formed in 1998 under the Delaware Revised Uniform Limited Partnership Act for the primary purpose of acquiring, holding, selling and otherwise dealing with a portfolio of mortgage revenue bonds which have been issued to provide construction and/or permanent financing for affordable multifamily, seniors and student housing properties. The Partnership is pursuing a business strategy of acquiring additional mortgage revenue bonds and other investments on a leveraged basis. The Partnership expects and believes the interest earned on these mortgage revenue bonds is excludable from gross income for federal income tax purposes. The Partnership seeks to achieve its investment growth strategy by investing in additional mortgage revenue bonds and other investments as permitted by its Second Amended and Restated Limited Partnership Agreement, dated December 5, 2022 (the “Partnership Agreement”), taking advantage of attractive financing structures available in the securities market, and entering into interest rate risk management instruments. Greystone Housing Impact Investors LP press releases are available at www.ghiinvestors.com.

    Safe Harbor Statement

    Certain statements in this press release are intended to be covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by use of statements that include, but are not limited to, phrases such as “believe,” “expect,” “future,” “anticipate,” “intend,” “plan,” “foresee,” “may,” “should,” “will,” “estimates,” “potential,” “continue,” or other similar words or phrases. Similarly, statements that describe objectives, plans, or goals also are forward-looking statements. Such forward-looking statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of the Partnership. The Partnership cautions readers that a number of important factors could cause actual results to differ materially from those expressed in, implied, or projected by such forward-looking statements. Risks and uncertainties include, but are not limited to: defaults on the mortgage loans securing our mortgage revenue bonds and governmental issuer loans; the competitive environment in which the Partnership operates; risks associated with investing in multifamily, student, senior citizen residential properties and commercial properties; general economic, geopolitical, and financial conditions, including the current and future impact of changing interest rates, inflation, and international conflicts (including the Russia-Ukraine war and the Israel-Hamas war) on business operations, employment, and financial conditions; uncertain conditions within the domestic and international macroeconomic environment, including monetary and fiscal policy and conditions in the investment, credit, interest rate, and derivatives markets; adverse reactions in U.S. financial markets related to actions of foreign central banks or the economic performance of foreign economies, including in particular China, Japan, the European Union, and the United Kingdom; the general condition of the real estate markets in the regions in which the Partnership operates, which may be unfavorably impacted by pressures in the commercial real estate sector, incrementally higher unemployment rates, persistent elevated inflation levels, and other factors; changes in interest rates and credit spreads, as well as the success of any hedging strategies the Partnership may undertake in relation to such changes, and the effect such changes may have on the relative spreads between the yield on investments and cost of financing; the aggregate effect of elevated inflation levels over the past several years, spurred by multiple factors including expansionary monetary and fiscal policy, higher commodity prices, a tight labor market, and low residential vacancy rates, which may result in continued elevated interest rate levels and increased market volatility; the Partnership’s ability to access debt and equity capital to finance its assets; current maturities of the Partnership’s financing arrangements and the Partnership’s ability to renew or refinance such financing arrangements; local, regional, national and international economic and credit market conditions; recapture of previously issued Low Income Housing Tax Credits in accordance with Section 42 of the Internal Revenue Code; geographic concentration of properties related to investments held by the Partnership; changes in the U.S. corporate tax code and other government regulations affecting the Partnership’s business; and the other risks detailed in the Partnership’s SEC filings (including but not limited to, the Partnership’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K). Readers are urged to consider these factors carefully in evaluating the forward-looking statements.

    If any of these risks or uncertainties materializes or if any of the assumptions underlying such forward-looking statements proves to be incorrect, the developments and future events concerning the Partnership set forth in this press release may differ materially from those expressed or implied by these forward-looking statements. You are cautioned not to place undue reliance on these statements, which speak only as of the date of this document. We anticipate that subsequent events and developments will cause our expectations and beliefs to change. The Partnership assumes no obligation to update such forward-looking statements to reflect events or circumstances after the date of this document or to reflect the occurrence of unanticipated events, unless obligated to do so under the federal securities laws.

    GREYSTONE HOUSING IMPACT INVESTORS LP
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (UNAUDITED)
     
        For the Three Months Ended
    December 31,    		     For the Years Ended December 31,
        2024     2023     2024     2023    
    Revenues:                                
      Investment income $ 20,056,000     $ 20,010,343     $ 80,976,706     $ 82,266,198    
      Other interest income   2,199,643       1,034,638       9,509,307       17,756,044    
      Property revenues   –               –       4,567,506    
      Other income   330,381       60,702       785,386       310,916    
    Total revenues   22,586,024       25,184,617       91,271,399       104,900,664    
    Expenses:                                
      Real estate operating (exclusive of items shown below)   –       573,255       –       2,663,868    
      Provision for credit losses (Note 10)   (24,000 )     (466,000 )     (1,036,308 )     (2,347,000 )  
      Depreciation and amortization   5,967       313,626       23,867       1,537,448    
      Interest expense   15,840,620       16,849,384       60,032,007       69,066,763    
      Net result from derivative transactions (Note 15)   (8,239,844 )     7,168,413       (8,495,426 )     (7,371,584 )  
      General and administrative   4,787,849       4,889,014       19,652,622       20,399,489    
    Total expenses   12,370,592       29,327,692       70,176,762       83,948,984    
    Other income:                                
      Gain on sale of real estate assets   –       10,363,363       63,739       10,363,363    
      Gain on sale of mortgage revenue bond   1,207,673       –       2,220,254       –    
      Gain on sale of investments in unconsolidated entities   60,858       –       117,844       22,725,398    
      Earnings (losses) from investments in unconsolidated entities   (1,315,042 )     (17,879 )     (2,140,694 )     (17,879 )  
    Income before income taxes   10,168,921       6,202,409       21,355,780       54,022,562    
      Income tax expense (benefit)   36,398       (1,515 )     32,447       10,866    
    Net income   10,132,523       6,203,924       21,323,333       54,011,696    
      Redeemable Preferred Unit distributions and accretion   (741,477 )     (622,590 )     (2,991,671 )     (2,868,578 )  
    Net income available to Partners $ 9,391,046     $ 5,581,334     $ 18,331,662     $ 51,143,118    
                                       
    Net income available to Partners allocated to:                                
      General Partner $ 390,766     $ 75,252     $ 479,602     $ 3,589,447    
      Limited Partners – BUCs   8,937,983       5,472,230       17,587,205       47,209,260    
      Limited Partners – Restricted units   62,297       33,852       264,855       344,411    
        $ 9,391,046     $ 5,581,334     $ 18,331,662     $ 51,143,118    
    BUC holders’ interest in net income per BUC, basic and diluted $ 0.39     $ 0.24   ** $ 0.76   * $ 2.06   **
    Weighted average number of BUCs outstanding, basic   23,115,162       22,947,795   **   23,071,141   *   22,929,966   **
    Weighted average number of BUCs outstanding, diluted   23,115,162       22,947,795   **   23,071,141   *   22,929,966   **
       
    * The amounts indicated above have been adjusted to reflect the distribution completed on April 30, 2024 in the form of additional BUCs at a ratio of 0.00417 BUCs for each BUC outstanding as of March 28, 2024 on a retroactive basis.
       
    ** On July 31, 2023, the Partnership completed a distribution in the form of additional BUCs at a ratio of 0.00448 BUCs for each BUC outstanding as of June 30, 2023 (the “Second Quarter 2023 BUCs Distribution”). On October 31, 2023, the Partnership completed a distribution in the form of additional BUCs at a ratio of 0.00418 BUCs for each BUC outstanding as of September 29, 2023 (the “Third Quarter 2023 BUCs Distribution”). On January 31, 2024, the Partnership completed a distribution in the form of additional BUCs at a ratio of 0.00415 BUCs for each BUC outstanding as of December 29, 2023 (the “Fourth Quarter 2023 BUCs Distribution”, collectively with the Second Quarter 2023 BUCs Distribution and the Third Quarter BUCs Distribution the “2023 BUCs Distributions”). The amounts indicated above have been adjusted to reflect the 2023 BUCs Distributions on a retroactive basis.
       

    Disclosure Regarding Non-GAAP Measures – Cash Available for Distribution

    The Partnership believes that CAD provides relevant information about the Partnership’s operations and is necessary, along with net income, for understanding its operating results. To calculate CAD, the Partnership begins with net income as computed in accordance with GAAP and adjusts for non-cash expenses or income consisting of depreciation expense, amortization expense related to deferred financing costs, amortization of premiums and discounts, fair value adjustments to derivative instruments, provisions for credit and loan losses, impairments on MRBs, GILs, real estate assets and property loans, deferred income tax expense (benefit), and restricted unit compensation expense. The Partnership also adjusts net income for the Partnership’s share of (earnings) losses of investments in unconsolidated entities as such amounts are primarily depreciation expenses and development costs that are expected to be recovered upon an exit event. The Partnership also deducts Tier 2 income (see Note 23 to the Partnership’s consolidated financial statements) distributable to the General Partner as defined in the Partnership Agreement and distributions and accretion for the Preferred Units. Net income is the GAAP measure most comparable to CAD. There is no generally accepted methodology for computing CAD, and the Partnership’s computation of CAD may not be comparable to CAD reported by other companies. Although the Partnership considers CAD to be a useful measure of the Partnership’s operating performance, CAD is a non-GAAP measure that should not be considered as an alternative to net income calculated in accordance with GAAP, or any other measures of financial performance presented in accordance with GAAP.

    The following table shows the calculation of CAD (and a reconciliation of the Partnership’s net income, as determined in accordance with GAAP, to CAD) for the three months and years ended December 31, 2024 and 2023 (all per BUC amounts are presented giving effect to the BUCs Distributions described in Note 23 of the consolidated financial statements on a retroactive basis for all periods presented):

        For the Three Months Ended
    December 31,    		     For the Years Ended December 31,
        2024     2023     2024     2023    
    Net income $ 10,132,523     $ 6,203,924     $ 21,323,333     $ 54,011,696    
    Unrealized (gains) losses on derivatives, net   (6,978,561 )     9,994,292       (2,097,900 )     3,173,398    
    Depreciation and amortization expense   5,967       313,626       23,867       1,537,448    
    Provision for credit losses (1)   (24,000 )     (466,000 )     (867,000 )     (2,347,000 )  
    Reversal of gain on sale of real estate assets (2)   –       (10,363,363 )     –       (10,363,363 )  
    Amortization of deferred financing costs   466,105       710,271       1,653,805       2,461,713    
    Restricted unit compensation expense   436,052       473,127       1,891,633       2,013,736    
    Deferred income taxes   1,164       2,796       2,435       (362 )  
    Redeemable Preferred Unit distributions and accretion   (741,477 )     (622,590 )     (2,991,671 )     (2,868,578 )  
    Tier 2 income allocable to the General Partner (3)   (309,858 )     (19,439 )     (309,858 )     (3,248,148 )  
    Recovery of prior credit loss (4)   (17,156 )     (17,156 )     (69,000 )     (68,812 )  
    Bond premium, discount and acquisition fee amortization, net
       of cash received    		   (90,310 )     (42,900 )     1,247,066       (182,284 )  
    (Earnings) losses from investments in unconsolidated entities   1,315,042       17,879       2,140,694       17,879    
    Total CAD $ 4,195,491     $ 6,184,467     $ 21,947,404     $ 44,137,323    
                                       
    Weighted average number of BUCs outstanding, basic   23,115,162       22,947,795       23,071,141       22,929,966    
    Net income per BUC, basic $ 0.39     $ 0.24     $ 0.76     $ 2.06    
    Total CAD per BUC, basic $ 0.18     $ 0.27     $ 0.95     $ 1.92    
    Cash Distributions declared, per BUC $ 0.37     $ 0.367     $ 1.478     $ 1.46    
    BUCs Distributions declared, per BUC (5) $ –     $ 0.07     $ 0.07     $ 0.21    
       
    (1) The adjustments reflect the change in allowances for credit losses which requires the Partnership to update estimates of expected credit losses for its investment portfolio at each reporting date. In connection with the final settlement of the bankruptcy estate of the Provision Center 2014-1 MRB in July 2024, the Partnership recovered approximately $169,000 of its previously recognized allowance credit loss which is not included as an adjustment to net income in the calculation of CAD.
       
    (2) The gain on sale of real estate assets from the sale of the Suites on Paseo MF Property represented a recovery of prior depreciation expense that was not reflected in the Partnership’s previously reported CAD, so the gain on sale was deducted from net income in determining CAD for 2023.
       
    (3) As described in Note 23 to the Partnership’s consolidated financial statements, Net Interest Income representing contingent interest and Net Residual Proceeds representing contingent interest (Tier 2 income) will be distributed 75% to the limited partners and BUC holders, as a class, and 25% to the General Partner. This adjustment represents 25% of Tier 2 income due to the General Partner.
       
      For the year ended December 31, 2024, Tier 2 income allocable to the General Partner consisted of approximately $310,000 related to the gain on sale of the Arbors at Hickory Ridge MRB in November 2024.
       
      For the year ended December 31, 2023, Tier 2 income allocable to the General Partner consisted of approximately $3.8 million related to the gains on sale of Vantage at Stone Creek and Vantage at Coventry in January 2023 and approximately $813,000 related to the gain on sale of Vantage at Conroe in June 2023, offset by a $1.4 million Tier 2 loss allocable to the General Partner related to the Provision Center 2014-1 MRB realized in January 2023 upon receipt of the majority of expected bankruptcy liquidation proceeds.
       
    (4) The Partnership determined there was a recovery of previously recognized impairment recorded for the Live 929 Apartments Series 2022A MRB prior to January 1, 2023. The Partnership is accreting the recovery of prior credit loss for this MRB into investment income over the term of the MRB consistent with applicable guidance. The accretion of recovery of value is presented as a reduction to current CAD as the original provision for credit loss was an addback for CAD calculation purposes in the period recognized.
       
    (5) The Partnership declared a distribution payable in the form of additional BUCs equal to $0.07 per BUC for outstanding BUCs as of the record date of March 28, 2024.
       
      The Partnership declared three separate distributions during 2023 each payable in the form of additional BUCs equal to $0.07 per BUC for outstanding BUCs as of the record dates of June 30, September 29, and December 29, 2023.
       

    MEDIA CONTACT:
    Karen Marotta
    Greystone
    212-896-9149
    Karen.Marotta@greyco.com

    INVESTOR CONTACT:
    Andy Grier
    Investors Relations
    402-952-1235

    The MIL Network –

  • MIL-OSI Global: Switching to electric vehicles will push the power grid to the brink

    Source: The Conversation – UK – By Florimond Gueniat, Associate Professor in Mechanical Engineering, Birmingham City University

    AdamEdwards / shutterstock

    The UK’s pledge to reach net-zero emissions by 2050 hinges on replacing millions of petrol and diesel vehicles with cleaner alternatives. But transitioning to electric transport isn’t just about manufacturing new cars, installing chargers and so on. It’s a gargantuan energy generation challenge that could push the power grid to its limits.

    In 2023, UK transport consumed about 46 million litres of petrol and diesel. If we convert that into electricity, it would be equivalent to 49.5 gigawatts (GW) of continuous power throughout a whole year. For perspective, this is about one-third more than the UK’s entire current electricity generation capacity.

    In other words, every single power station in the UK could be devoted entirely to powering electric vehicles and it still wouldn’t be enough. But one might say we didn’t consider the efficiency of electric vehicles. Petrol and diesel engines waste about three quarters of their energy as heat, with only a small portion used to propel the car. Electric vehicles meanwhile waste only about one quarter.

    Adjusting for this, the actual power needed if the UK went entirely electric drops to around 20 GW. It would still mean increasing today’s grid capacity by almost half (46%), corresponding to building 17 nuclear plants (1.2 GW each) or 5,800 skyscraper-sized wind turbines (3.5 MW each). Those wind farms would cost around £22 billion, while the nuclear plants would cost significantly more.

    At the moment, less than 1% of vehicles in the UK are electric, which explains why there are no specific power issues – yet. But if the country did have a fully carbon-free fleet of vehicles, the associated surge in demand would strain infrastructure and risk large blackouts. California’s grid, for example, already faces stress during electric vehicle charging peaks, prompting warnings and forcing the state to put “managed charging” policies in place.

    ‘A gargantuan energy challenge’.
    Supamotionstock.com / shutterstock

    Massive upgrade needed

    Most countries looking to switch to zero-carbon transport will need to massively upgrade their electricity grid and power plants. Renewable energy complicates matters as wind and solar can’t always meet demand spikes (you can burn more gas or coal when needed, but you can’t choose when the wind blows or the sun shines). Nuclear offers stable and massive output, but new plants can take decades to build and the public is often hostile.

    Certain “smart” solutions could help things even if the grid itself isn’t overhauled. Electric vehicle batteries could be linked to the grid for instance, and used to store and supply power. Overnight, millions of cars will soak up electricity before releasing it when demand spikes again in the morning. Price discounts would encourage people to charge their cars at night, when demand for electricity is at its lowest.

    This can help mitigate many of the issues related to wind and solar being intermittent. But it will cause batteries to deteriorate faster, and still won’t solve the problem of having to generate more electricity.

    Electricity stored overnight can be very useful in the morning when millions of lights and kettles are switched on.
    Smile Fight / shutterstock

    One underappreciated strategy is empowering households and businesses that generate their own electricity via solar panels, small wind turbines, or even micro-hydro systems. By 2035, with vigorous policies, these “prosumers” could supply up to 15% of the UK’s electricity, easing grid strain and reducing reliance on centralised funding. Such policies in Germany have lead its prosumer networks to already offset 10% of the national demand.

    Without such decentralised efforts, the financial burden of grid upgrades will fall entirely on taxpayers, at staggering costs. The alternative is a huge rise in price of electricity, felt by all, and a stalled transition.

    No time to delay

    Generating more power remains the core issue. Without urgent action, the transition to low-carbon transport could stall – or worse, overload the energy system. The governments of France, the UK and some other countries have recently begun to discuss increasing energy production, but the focus is on meeting AI-related demands rather than electricity for the next generation of vehicles.

    Critically, net-zero will only happen with strong transport and energy policies in place. Governments must increase grid capacity and incentivise small-scale renewable generation through tax breaks and specially-designed payments. The alternative – delaying and relying solely on public funds – is economically unviable and politically risky.

    Florimond Gueniat 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. Switching to electric vehicles will push the power grid to the brink – https://theconversation.com/switching-to-electric-vehicles-will-push-the-power-grid-to-the-brink-248814

    MIL OSI – Global Reports –

  • MIL-OSI USA: Governor Newsom announces appointments 2.19.25

    Source: US State of California 2

    Feb 19, 2025

    SACRAMENTO – Governor Gavin Newsom today announced the following appointments:

    Andrew “Andy” Nakahata, of San Francisco, has been appointed Chief Deputy Executive Director and Chief Operating Officer at the California Infrastructure and Economic Development Bank. Nakahata has been Director and Western Region Head of Public Finance at TD Securities LLC since 2024. He was Managing Director and Regional Head of Public Finance for the West Region at UBS Financial Services Inc. from 2017 to 2024. Nakahata was Managing Director and Head of the West Region at the National Public Finance Guarantee Corporation from 2015 to 2017. He was Director and Co-Head of the Higher Education Group at Citigroup from 2010 to 2015. Nakahata was an Executive Director at J.P. Morgan from 2009 to 2010. He was Vice President of Public Sector and Infrastructure Banking at Goldman Sachs & Co. from 1994 to 2010. Nakahata is Treasurer of the Board of Trustees at San Francisco University High School and member of the Board of Directors of Asian Americans in Public Finance. He earned a Master of Business Administration degree from Yale University and a Bachelor of Arts degree in History from Wesleyan University. This position does not require Senate confirmation, and the compensation is $186,876. Nakahata is a Democrat.

    Diane Lydon, of Sacramento, has been appointed Assistant Deputy Director and Northern California Regional Advisor at the Office of the Small Business Advocate. Lydon has been a Business Outreach Manager for the Office of Small Business and Disabled Veteran Business Enterprise Services at the Department of General Services since 2023, where she was previously a Business Outreach Liaison from 2022 to 2023. She was Education and Training Manager at World Trade Center Northern California from 2019 to 2022. Lydon was a Sales and Business Development Manager at Heart Zones Inc. from 2015 to 2019. She was a Marketing Program Manager at Skopre from 2013 to 2015. Lydon was an Olympic Program Manager at Sportsworks Events LTD from 2004 to 2012. She is a member of the Department of General Services Toastmasters. This position does not require Senate confirmation, and the compensation is $123,600. Lydon is a Democrat.

    Brian Lin Walsh, of Rocklin, has been appointed Principal Labor Relations Officer at the California Department of Human Resources. Lin Walsh has been Director of the Administrative Services Division at the California Commission on Teacher Credentialing since 2024. He was Senior Labor Relations Officer at the California Department of Human Resources from 2022 to 2024, and Labor Relations Officer from 2020 to 2022. Lin Walsh was Labor Relations Manager II at the California Department of Motor Vehicles from 2014 to 2020. He earned a Bachelor of Arts degree in Business Administration from the University of Phoenix. The position does not require Senate confirmation, and the compensation is $153,492. Lin Walsh is a Democrat.

    Joseph Tuggle, of Placerville, has been appointed Warden of Folsom State Prison, where he has been serving as Acting Warden since 2024 and was Chief Deputy Administrator from 2023 to 2024. Tuggle was Acting Chief Deputy Administrator at California Medical Facility from 2022 to 2023. He held several positions at Folsom State Prison from 2000 to 2022, including Correctional Administrator, Correctional Captain, Correctional Lieutenant, Correctional Sergeant, and Correctional Officer. Tuggle was a Correctional Officer at Pelican Bay State Prison from 1998 to 2000. This position does not require Senate confirmation, and the compensation is $193,524. Tuggle is a Republican.

    Kelly DeRoss, of Sacramento, has been appointed Labor Relations Officer at the California Department of Human Resources. DeRoss has been Labor Relations Manager II at the California Employment Development Department since 2019. She was Labor Relations Manager I at the California Department of Healthcare Services from 2015 to 2019, where she was previously Labor Relations Specialist from 2013 to 2014. DeRoss held several roles at the California Department of Public Health, including Labor Relations Analyst from 2012 to 2013, Associate Personnel Analyst from 2009 to 2012, and Staff Services Analyst from 2008 to 2009. She earned a Bachelor of Science degree in Anthropology from the University of California, Davis. The position does not require Senate confirmation, and the compensation is $141,144. DeRoss is a Democrat.

    Jennifer Haley, of Rancho Palos Verdes, has been appointed to the California Workforce Development Board. Haley has been President and Chief Executive Officer at Kern Energy since 2018, where she was previously Vice President and General Counsel from 2012 to 2018. She was an Associate at Best Best & Krieger LLP from 2007 to 2012. Haley is the Chair of the California Foundation for Commerce and Education and is a member of the Board of Trustees of the California Science Center Foundation and Board of Directors of the California Chamber of Commerce. She earned a Juris Doctor degree and a Bachelor of Arts degree in History from the University of San Diego. This position does not require Senate confirmation, and the compensation is $100 per diem. Haley is registered with no party preference.

    Amelia Tyagi, of Los Angeles, has been appointed to the California Workforce Development Board. Tyagi has been a Managing Director at Sellside Group since 2024, and an Author since 2003. She was Co-Founder, Chief Executive Officer, and President of Business Talent Group from 2005 to 2023. Tyagi was Vice President and Co-Founder of HealthAllies from 1999 to 2001. She was a Consultant at McKinsey & Co. from 1996 to 1999. Tyagi is the Chairperson of her local chapter of Young Presidents Organization, a member of the Board of Directors of Planned Parenthood of Los Angeles, Fuse Corps, and WildAid and Chairperson Emeritus at Dēmos. She earned a Master of Business Administration degree from University of Pennsylvania and a Bachelor of Arts degree in History from Brown University. This position does not require Senate confirmation, and the compensation is $100 per diem. Tyagi is a Democrat. 

    Press Releases, Recent News

    Recent news

    Feb 19, 2025

    News What you need to know: A court has denied the city of Norwalk’s request to dismiss the state’s lawsuit against the city for its unlawful ban on homeless shelters.  NORWALK — Governor Gavin Newsom issued the following statement in response to a court decision…

    Feb 19, 2025

    News What you need to know: Steve Jobs, a visionary of global scale, has been nominated to represent California on the American Innovation Coin. The coin, which will be minted by the U.S. Mint, highlights U.S. innovations and innovators, including California’s legacy…

    Feb 19, 2025

    News What you need to know: Over the next three years, California will host the NBA All-Star Weekend, X Games, FIFA World Cup, Super Bowl LX & LXI, and the LA28 Olympics & Paralympics in select regions across the state. SACRAMENTO – As the Bay Area wraps up…

    MIL OSI USA News –