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Category: Economy

  • MIL-OSI Security: Marine Corps Passes FY24 Financial Audit

    Source: United States Marines

    WASHINGTON, D.C. —

    For the second year in a row, independent auditors verified that the Marine Corps’ financial records are materially accurate, complete, and compliant with federal regulations and issued an unmodified opinion for Fiscal Year 2024.

    This repeat achievement reinforces the service’s reputation for accountability, discipline, and leadership; and this is only the second time such success has been achieved for a military service in Department of Defense history and twice attributed to the Marines.

    The findings produced by the audit help the service to more efficiently and accurately plan, program, budget, and spend funds appropriated by Congress.

    The Marine Corps’ audit process enabled accurate global tracking and reporting of financial transactions, inventory of facilities, equipment and assets, and accounting for taxpayer dollars spent during the last fiscal year. The auditors also tested the Marines Corps’ network, key business systems, and internal controls.

    “I am immensely proud of this historic achievement and the hard work done by the thousands of Marines, sailors, and civilians across the Marine Corps that made this happen,” said Gen. Eric M. Smith, Commandant of the Marine Corps. “Their efforts tell the American people that a dollar invested in the Marine Corps is a dollar well spent. Passing a second annual audit demonstrates our commitment to being good stewards of our nation’s tax dollars and is part of how we distinguish ourselves as a professional warfighting organization. Make no mistake, passing an audit makes us more ready to fight when our nation calls.”

    Since becoming the first service to pass an annual financial audit, the Marine Corps took additional steps to stabilize its new accounting system and procedures. Independent public accountants contracted by the Department of Defense Inspector General audited all records. Financial management personnel also gained more hands-on experience, which set conditions for a smoother audit this year.

    “The Marine Corps culture has always emphasized accountability to yourself, your fellow Marines, your unit, down to the lowest tactical levels,” said LtGen. James Adams III, Deputy Commandant for Programs and Resources. “But financial reporting for $49 billion in financial assets requires a holistic view from the ground level up to the highest service levels. The audit process demonstrates Marines’ inherent integrity – opening up and illuminating potential audit mistakes and inventory miscounts across the entire chain of command. That can be an uncomfortable experience for Marine leaders of all ranks. Now magnify that across an entire service. By educating all Marines on the importance of accurate counts, and through our use of independent audit and inspection teams, we were able to gain an accurate accounting of the resources entrusted to the Corps.”

    The auditor’s final report, enclosed in the Marine Corps’ Fiscal Year 2024 Agency Financial Report, highlights seven areas for the Marine Corps to improve upon, referred to as material weaknesses.

    The Marine Corps will continue to drive to eliminate these weaknesses through systems improvement and internal controls. While doing this, the Corps will still prioritize the accurate counting and management of its global assets, a challenging task given the vast scope of its operations. By repeating and refining this process, the Corps aims to develop a more fluid and efficient enterprise resource planning system, ultimately positioning itself for long-term mission success and accountability.

    The Agency Financial Report for Fiscal Year 2024 is available at: https://www.pandr.marines.mil/

    MIL Security OSI –

    February 5, 2025

  • MIL-OSI United Kingdom: Council responds to Deloitte’s Annual Crane Survey

    Source: City of Manchester

    Council Leader Cllr Bev Craig and Chief Executive Tom Stannard react to the survey that provides a commentary on the construction sector in the UK’s major cities.

    Leader of Manchester City Council Bev Craig said:

    “The annual crane survey shows that Manchester continues to have a strong and growing economy, and our city and region remains one of the most important engines of growth in the UK – and one of the fastest growing places in Europe.

    “The survey is a useful litmus test that makes sure that our city continues to thrive, and despite a challenging economic backdrop for much of the country, we are building record numbers of homes – including more affordable housing than at any other point in the last decade – we saw more than 1m sq ft of much-needed office space delivered to market last year alone, with more than 1.5m sq ft under construction, alongside a range of commercial space opportunities. 

    “Manchester is leading the way in construction, but this isn’t just about buildings. This is about driving investor confidence to create a long-term supply of development. This is about creating high quality employment opportunities that help our residents to prosper. And it’s about creating a global city that is attractive, welcoming and future proof. 

    “The pandemic presented a range of economic challenges for the UK’s towns and cities, and building has broadly slowed. Thankfully Manchester is bucking that trend and we are continuing to attract major business, investment and residential opportunities that will help meet demand and support our city’s ongoing growth.”

    Tom Stannard, Chief Executive of Manchester City Council, said: 

    “The annual Crane Survey shows some very encouraging signs that Manchester is continuing to weather a very challenging period for the UK’s town and cities. Sustainable economic growth is good for Manchester and our region, and it’s good for the country. 

    “We are seeing high demand for premium office space met with major investment in our city centre, which in turn supports new employment opportunities – vital to help our residents succeed. We are also seeing tourism bounce back to pre-pandemic levels, and we are meeting the targets set out in our ambitious housing strategy. 

    “This tells a story of a city that is weathering the economic storm, despite very real and ongoing challenges.  Manchester is a place that is attracting new business and quality development, we are at the forefront of the UK’s growing tech sector, and we are a place where our residents are supported to thrive and share in the success of the city.

    “We of course stand ready to continue to support the Government on their economic growth mission, which puts our city and region as a key engine of growth for both the North and the UK at large.”

    Find out more about the Deloitte Crane Survey findings

    MIL OSI United Kingdom –

    February 5, 2025

  • MIL-OSI Russia: Financial News: Few Financial Institutions Take Climate Risks Into Account: Bank of Russia Survey

    Translartion. Region: Russians Fedetion –

    Source: Central Bank of Russia –

    Only a small proportion of financial institutions fully integrate risks associated with reducing greenhouse gas emissions and adapting to climate change into their corporate governance systems. These include: survey results Bank of Russia, conducted to assess the implementation recommendations regulator.

    Banks are more involved in the climate agenda than NPFs and insurance companies. Some of them already set the relevant conditions in loan agreements.

    Monitoring climate and environmental strategies The Bank of Russia’s survey of the largest non-financial companies showed that companies have begun to better disclose climate information and set more ambitious goals. However, environmental goals are often formal in nature.

    Russia’s trading partners continue their transition to a low-carbon economy and introduce regulations that will affect international trade. Therefore, the Bank of Russia intends to describe in more detail the methodologies for taking into account climate risks and develop recommendations for banks on how to manage them. It also plans to continue climate stress testing and encourage financial institutions to assess these risks independently.

    Preview photo: Sergey Bobylev / TASS

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

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

    HTTPS: //vv. KBR.ru/Press/Event/? ID = 23335

    MIL OSI Russia News –

    February 5, 2025

  • MIL-OSI: January Chapter 11 Commercial Filings Increase 16 Percent Over Last Year

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK and ALEXANDRIA, Va., Feb. 04, 2025 (GLOBE NEWSWIRE) — There were 539 commercial chapter 11 filings recorded in January 2025, a 16 percent increase from the 465 commercial chapter 11s in January 2024, according to data provided by Epiq AACER, the leading provider of U.S. bankruptcy filing data. Overall commercial bankruptcy filings rose 11 percent in January 2025, with the 2,358 filings ticking up from the 2,126 filings in January 2024. Small business filings, captured as subchapter V elections within chapter 11, increased 7 percent to 171 in January 2025, up slightly from 160 in January 2024.

    Total bankruptcy filings increased 13 percent to 41,492 in January 2025 from the 36,629 filings recorded in January 2024. Individual bankruptcy filings also increased 13 percent in January to 39,134, up from the January 2024 individual filing total of 34,503. There were 22,938 individual chapter 7 filings in January 2025, a 17 percent increase over the 19,580 filings recorded in January 2024, and there were 16,087 individual chapter 13 filings in January 2025, an 8 percent increase over the 14,873 filings last January.

    “Total bankruptcy filings continue to grow double digit percentages each month,” said Michael Hunter, Vice President of Epiq AACER. “The signs of consumer stress also have become more pronounced as credit card delinquency reach a 12-year high and the share of those active credit card holders making the minimum payments are at a 13-year high. I expect this growth trend to continue and then accelerate after tax season concludes into the summer months.”

    “The pace of year-over-year increases for both small business subchapter V elections and consumer chapter 13 filings continues to taper following the expiration last year of enhanced debt limits for both filing categories,” said ABI Executive Director Amy Quackenboss. “We look forward to continuing to work with Congress to provide the data and research needed to demonstrate how higher debt-eligibility limits for small businesses and individuals creates greater access and a more efficient process for families and businesses looking for a financial fresh start.”

    Compared to December, bankruptcy filings registered moderate fluctuations. Total bankruptcies increased 9 percent over December’s 38,130 filings, and consumer bankruptcies also edged up 9 percent over December’s total of 35,791. Individual chapter 7s increased 5 percent, and chapter 13s increased 17 percent, from December’s filings. Overall commercial filings increased 1 percent from the 2,339 filings registered in December. Conversely, commercial chapter 11s decreased 3 percent from December’s 553 filings, and subchapter V elections within chapter 11 decreased 9 percent from the 187 filed in December 2024.

    ABI has partnered with Epiq Bankruptcy to provide the most current bankruptcy filing data for analysts, researchers, and members of the news media. Epiq Bankruptcy is the leading provider of data, technology, and services for companies operating in the business of bankruptcy. Its Bankruptcy Analytics subscription service provides on-demand access to the industry’s most dynamic bankruptcy data, updated daily. Learn more at https://bankruptcy.epiqglobal.com/analytics.

    About Epiq
    Epiq, a global technology-enabled services leader to the legal industry and corporations, takes on large-scale, increasingly complex tasks for corporate counsel, law firms, and business professionals with efficiency, clarity, and confidence. Clients rely on Epiq to streamline the administration of business operations, class action and mass tort, court reporting, eDiscovery, regulatory, compliance, restructuring, and bankruptcy matters. Epiq subject-matter experts and technologies create efficiency through expertise and deliver confidence to high-performing clients around the world. Learn more at https://www.epiqglobal.com.

    About ABI 
    ABI is the largest multi-disciplinary, nonpartisan organization dedicated to research and education on matters related to insolvency. ABI was founded in 1982 to provide Congress and the public with unbiased analysis of bankruptcy issues. The ABI membership includes nearly 10,000 attorneys, accountants, bankers, judges, professors, lenders, turnaround specialists and other bankruptcy professionals, providing a forum for the exchange of ideas and information. For additional information on ABI, visit www.abi.org. For additional conference information, visit http://www.abi.org/calendar-of-events.

    Press Contacts
    Carrie Trent
    Epiq, Director of Communications & Public Relations
    Carrie.Trent@epiqglobal.com

    John Hartgen
    ABI, Public Affairs Officer
    jhartgen@abi.org

    The MIL Network –

    February 5, 2025

  • MIL-OSI: Melissa Alert Service Revolutionizes Active Data Quality with Real-Time Alerts

    Source: GlobeNewswire (MIL-OSI)

    RANCHO SANTA MARGARITA, CALIF., Feb. 04, 2025 (GLOBE NEWSWIRE) — The critical nature of data accuracy has paved the way for Melissa’s newest data quality solution—the first of its kind to run automated checks giving businesses real-time insights into changes within their customer data. Melissa Alert Service is a transformative cloud-based contact management service (CMS) that promises to streamline operations, improve decision-making, and maintain the most accurate customer records for organizations across industries.

    “As an all-in-one hub for data storage, validation, and monitoring, Melissa Alert Service represents a dramatic shift in how businesses manage data quality,” said Bud Walker, Chief Information Officer at Melissa, a global leader in data quality and address management solutions. “By continuously monitoring and updating customer data, this service eliminates manual checks, reduces errors, and ensures businesses always have the most accurate and actionable customer insights at their fingertips.”

    Melissa Alert Service allows businesses to upload customer records, such as addresses and property data, into Melissa Vault, a secure cloud-based system. The Melissa Alert Service system continuously monitors these records against Melissa’s current data updates and automatically sends alerts when changes are detected. Whether it’s a change of address, updated property details, such as ownership transfers, the service empowers businesses to act on accurate data immediately.

    Key Features and Benefits of the Melissa Alert Service:

    • Live Notifications: Automatically alerts users to changes in their customer or property records, ensuring up-to-date and reliable data
    • Comprehensive Monitoring: Tracks an array of daily, weekly, monthly data updates, including National Change of Address (NCOA), property ownership, and address corrections
    • Scalable Solutions: Designed for businesses of all sizes, with flexible subscription tiers supporting up to one million records
    • Ease of Use: Offers seamless data uploads via FTP or API, enabling integration with CRM tools like HubSpot and other marketing platforms
    • Future-Proofing: Provides businesses with a scalable platform for ongoing data monitoring and future alert capabilities, including weather events, vacancies, and deceased monitoring

    “Whether you’re a marketing team managing campaigns or an insurance company monitoring properties, Melissa Alert Service provides unmatched convenience and accuracy,” said Phil Maitino, Chief Technology Officer at Melissa. “The service is flexible to accommodate user-scheduled jobs and data attributes required by your particular business—empowering businesses to focus on growth and customer satisfaction based on their specific needs.”

    Melissa is offering subscription-based pricing tailored to business needs, starting at just $95 annually for up to 10,000 records. Higher tiers accommodate businesses managing up to one million records, ensuring scalability for organizations of all sizes.
    For more information, access the Melissa Alert Service page, visit www.Melissa.com, or contact sales@Melissa.com.

    About Melissa
    Since 1985, Melissa has specialized in global intelligence solutions to help organizations unlock accurate data for a more compelling customer view. More than 10,000 clients worldwide in arenas such as retail, education, healthcare, insurance, finance, and government rely on Melissa for full spectrum data quality and ID verification software, including data matching, validation, and enhancement services to gain critical insight and drive meaningful customer relationships. For more information or free product trials, visit www.Melissa.com or call 1-800-MELISSA (635-4772).

    Media contacts
    Greg Brown
    Vice President, Global Marketing, Melissa
    greg.brown@Melissa.com
    +1-800-635-4772 x1130

    MPoweredPR for Melissa
    pr@mpoweredpr.com
    +1-877-794-6777

    The MIL Network –

    February 5, 2025

  • MIL-OSI: Morris State Bancshares Announces Solid Earnings in 2024, Declares Special Dividend, and Increases Quarterly Dividend

    Source: GlobeNewswire (MIL-OSI)

    DUBLIN, Ga., Feb. 04, 2025 (GLOBE NEWSWIRE) — Morris State Bancshares, Inc. (OTCQX: MBLU) (the “Company”), the parent of Morris Bank (the “Bank”), today reported its financial results for the quarter and year ended December 31, 2024. Year over year and quarter by quarter comparisons are included herewith.

    On January 29, 2025, the Company’s Board of Directors announced a 30.43% increase in its quarterly cash dividend, raising it to $0.12 per common share—an increase of $0.028 per share over the quarterly dividend of $0.092 paid in each of the prior quarters last year1. This dividend will be payable on or about March 14, 2025, to all shareholders of record as of February 15, 2025. In addition to this increase, the Board also approved a one-time special dividend of $0.15 per common share. This special dividend will be payable on or about March 21, 2025, to all shareholders of record as of February 15, 2025.

    “We are extremely pleased with the Company’s strong financial performance in 2024, achieving net earnings of $21.8 million. As the Federal Reserve pivoted during the year and decreased interest rates for the first time since March of 2020, our team effectively managed our net interest margin, closing the year at 4.06%—an increase of 8 basis points from the prior year end,” said Spence Mullis, Chairman and CEO. “At the bank level, we achieved a 1.68% return on average assets and a 12.74% return on average equity, closing the year with a leverage ratio of 12.84%, placing us in the top 10% of our FDIC peer group* in terms of capital strength. As mentioned in our third-quarter earnings release, given our strong capital position at both the bank and holding company and solid cash position at the holding company, we have the ability and plan to retire the remaining $15.0 million in subordinated debt when the window for retirement opens in July 2025. With our robust capital levels and strong earnings performance, we are well-positioned to capitalize on strategic opportunities and drive continued organic growth within our existing footprint while continuing to grow value for our shareholders through earnings and dividends.”

    Following is a summary of the quarterly and annual highlights:

    Fourth Quarter 2024 Highlights

    • Net income for the fourth quarter of 2024 was $6.1 million, compared to $5.4 million for the third quarter of 2024 and $5.9 million for the fourth quarter of 2023.
    • Diluted earnings per share for the fourth quarter of 2024 was $0.52, compared to $0.51 for the third quarter of 2024 and $0.56 for the fourth quarter of 2023.
    • Earnings before taxes for the fourth quarter of 2024 was $6.6 million, compared to $5.7 million for the third quarter of 2024 and $5.5 million for the fourth quarter of 2023.
    • Net loans in the fourth quarter of 2024 totaled $1.10 billion, versus $1.05 billion in the third quarter of 2024 and $1.06 billion at year end 2023.
    • Average cost of funds for the fourth quarter of 2024 was 206 basis points, compared to 218 basis points for the third quarter of 2024 and 192 basis points for the fourth quarter of 2023.
    • Return on average assets (annualized) at the bank level for the fourth quarter of 2024 was 1.79%, compared to 1.65% for the third quarter of 2024 and 1.84% for the fourth quarter of 2023.

    Full Year 2024 Highlights

    • Total assets remained level at $1.49 billion at December 31, 2024, compared to $1.44 billion at December 31, 2023.
    • Earnings before income taxes totaled $23.0 million at December 31, 2024 compared to $21.5 million at December 31, 2023.
    • Full year net income of $21.8 million in 2024, compared to $19.3 million in 2023.
    • Return on average assets at the bank level of 1.68% for the full year 2024, compared to 1.55% for 2023.
    • Diluted earnings per share of $2.72 in 2024, compared to $1.83 in 2023.
    • Total shareholders’ equity increased 9.81% or $17.5 million to $195.6 million at December 31, 2024, compared to $178.1 million at December 31, 2023.
    • Tangible book value per share of $17.45 at December 31, 2024, compared to $15.79 at December 31, 2023.
    • Net loans grew $52.1 million, or 4.96%, during 2024.
    • The Bank’s asset quality remains solid, ending the year with nonperforming assets to total loans and other real estate of 0.41%, past due and nonaccrual loans of 0.72% and net charge offs to average loans of 0.04% for 2024.
    • Bank-level efficiency ratio net of tax credit amortization expense was 53.30% in 2024, compared to 52.99% in 2023.

    *as defined in the FDIC’s Uniform Bank Performance Report

     Forward-looking Statements

    Certain statements contained in this release may not be based on historical facts and are forward-looking statements. These forward-looking statements may be identified by their reference to a future period or periods or by the use of forward-looking terminology such as “anticipate,” “believe,” “estimate,” “expect,” “may,” “might,” “plan,” “will,” “would,” “could” or “intend.” We caution you not to place undue reliance on the forward-looking statements contained in this news release, in that actual results could differ materially from those indicated in such forward-looking statements as a result of a variety of factors, including, among others, the business and economic conditions; risks related to the integration of acquired businesses and any future acquisitions; changes in management personnel; interest rate risk; ability to execute on planned expansion and organic growth; credit risk and concentrations associated with the Company’s loan portfolio; asset quality and loan charge-offs; inaccuracy of the assumptions and estimates management of the Company makes in establishing reserves for probable loan losses and other estimates; lack of liquidity; impairment of investment securities, goodwill or other intangible assets; the Company’s risk management strategies; increased competition; system failures or failures to prevent breaches of our network security; changes in federal tax law or policy; the impact of recent and future legislative and regulatory changes; and increases in capital requirements. We undertake no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date of this news release. 

    1 Per share amounts for March 31, 2024 and previous quarters have been adjusted to reflect the April 22, 2024 4-for-1 stock dividend.

    MORRIS STATE BANCSHARES, INC.
    AND SUBSIDIARIES
                             
    Consolidated Balance Sheets
    December 31, 2024 and 2023
                             
                             
              December 31,   December 31,          
                2024       2023     Change   % Change  
              (Unaudited)   (Unaudited)          
      ASSETS                      
                             
      Cash and due from banks       $ 53,898,138     $ 51,060,389     $ 2,837,749     5.56 %  
      Federal funds sold         42,064,131       17,268,446       24,795,685     143.59 %  
      Total cash and cash equivalents         95,962,269       68,328,835       27,633,434     40.44 %  
                             
      Interest-bearing time deposits in other banks         100,000       100,000       —     0.00 %  
      Securities available for sale, at fair value         9,726,716       7,875,780       1,850,936     0.00 %  
      Securities held to maturity, at cost         215,836,502       240,205,635       (24,369,133 )   -10.15 %  
      Federal Home Loan Bank stock, restricted, at cost         1,032,800       1,029,600       3,200     0.31 %  
                             
      Loans, net of unearned income         1,116,074,659       1,063,772,222       52,302,437     4.92 %  
      Less-allowance for loan losses         (14,488,525 )     (14,291,923 )     (196,602 )   1.38 %  
      Loans, net         1,101,586,134       1,049,480,299       52,105,835     4.96 %  
                             
      Bank premises and equipment, net         12,780,014       13,188,353       (408,339 )   -3.10 %  
      ROU assets for operating lease, net         776,979       1,126,156       (349,177 )   -31.01 %  
      Goodwill         9,361,704       9,361,704       —     0.00 %  
      Intangible assets, net         1,338,964       1,679,989       (341,025 )   -20.30 %  
      Other real estate and foreclosed assets         21,898       3,611,235       (3,589,337 )   -99.39 %  
      Accrued interest receivable         7,278,258       6,424,090       854,168     13.30 %  
      Cash surrender value of life insurance         15,128,762       14,711,623       417,139     2.84 %  
      Other assets         22,674,658       25,321,092       (2,646,434 )   -10.45 %  
      Total Assets       $ 1,493,605,658     $ 1,442,444,391     $ 51,161,267     3.55 %  
                             
                             
      LIABILITIES AND SHAREHOLDERS’ EQUITY                      
                             
      Deposits:                      
      Non-interest bearing       $ 325,534,335     $ 316,224,444     $ 9,309,891     2.94 %  
      Interest bearing         939,354,005       909,976,336       29,377,669     3.23 %  
                1,264,888,340       1,226,200,780       38,687,560     3.16 %  
                             
      Other borrowed funds         19,019,372       27,151,283       (8,131,911 )   -29.95 %  
      Lease liability for operating lease         776,979       1,126,156       (349,177 )   -31.01 %  
      Accrued interest payable         2,111,093       1,059,226       1,051,867     99.31 %  
      Accrued expenses and other liabilities         11,206,717       8,773,430       2,433,287     27.73 %  
                             
      Total liabilities         1,298,002,501       1,264,310,875       33,691,626     2.66 %  
                             
      Shareholders’ Equity:                      
      Common stock         10,688,723       10,645,508       43,215     0.41 %  
      Paid in capital surplus         34,936,059       33,711,561       1,224,498     3.63 %  
      Retained earnings         130,111,050       115,232,196       14,878,854     12.91 %  
      Current year earnings         21,804,345       19,332,489       2,471,856     12.79 %  
      Accumulated other comprehensive income (loss)         1,422,709       1,968,846       (546,137 )   -27.74 %  
      Treasury Stock, at cost 95,498 shares         (3,359,729 )     (2,757,084 )     (602,645 )   21.86 %  
      Total shareholders’ equity         195,603,157       178,133,516       17,469,641     9.81 %  
                             
      Total Liabilities and Shareholders’ Equity       $ 1,493,605,658     $ 1,442,444,391       51,161,267     3.55 %  
                             
    MORRIS STATE BANCSHARES, INC.
    AND SUBSIDIARIES
                         
    Consolidated Statements of Income
    For the Years Ended December 31, 2024 and 2023
                         
                         
          December 31,   December 31,        
            2024       2023     Change   % Change  
          (Unaudited)   (Unaudited)          
      Interest and Dividend Income:                  
      Interest and fees on loans   $ 72,453,630     $ 62,157,217     $ 10,296,413     16.57 %  
      Interest income on securities     7,368,157       8,196,152       (827,995 )   -10.10 %  
      Income on federal funds sold     851,717       627,235       224,482     35.79 %  
      Income on time deposits held in other banks     1,699,224       1,214,072       485,152     39.96 %  
      Other interest and dividend income     183,239       255,689       (72,450 )   -28.34 %  
      Total interest and dividend income     82,555,967       72,450,365       10,105,602     13.95 %  
                         
      Interest Expense:                  
      Deposits     25,981,731       18,599,664       7,382,067     39.69 %  
      Interest on other borrowed funds     1,548,980       2,148,019       (599,039 )   -27.89 %  
      Interest on federal funds purchased     296       842       (546 )   -64.85 %  
      Total interest expense     27,531,007       20,748,525       6,782,482     32.69 %  
                         
      Net interest income before provision for loan losses     55,024,960       51,701,840       3,323,120     6.43 %  
      Less-provision for loan losses     556,913       450,475       106,438     23.63 %  
      Net interest income after provision for loan losses     54,468,047       51,251,365       3,216,682     6.28 %  
                         
      Noninterest Income:                  
      Service charges on deposit accounts     2,164,988       2,143,550       21,438     1.00 %  
      Other service charges, commissions and fees     1,553,493       1,589,747       (36,254 )   -2.28 %  
      Gain on sales of foreclosed assets     —       —       —     0.00 %  
      Gain on sales and calls of securities     182       —       182     0.00 %  
      Gain on sale of loans     —       —       —     —    
      Increase in CSV of life insurance     417,139       378,079       39,060     10.33 %  
      Other income     644,868       606,754       38,114     6.28 %  
      Total noninterest income     4,780,670       4,718,130       62,540     1.33 %  
                         
      Noninterest Expense:                  
      Salaries and employee benefits     19,050,416       17,414,685       1,635,731     9.39 %  
      Occupancy and equipment expenses, net     2,223,832       2,250,663       (26,831 )   -1.19 %  
      (Gain) Loss on sales of foreclosed assets and other real estate     9,681       321,783       (312,102 )   0.00 %  
      Loss on sales of premises and equipment     —       54,269       (54,269 )   -100.00 %  
      Tax credit amortization expense     2,920,825       2,733,248       187,577     6.86 %  
      Other expenses     12,040,179       11,713,425       326,754     2.79 %  
      Total noninterest expense     36,244,933       34,488,073       1,756,860     5.09 %  
                         
      Income Before Income Taxes     23,003,784       21,481,422       1,522,362     7.09 %  
      Provision for income taxes     1,199,439       2,148,933       (949,494 )   -44.18 %  
                         
      Net Income   $ 21,804,345     $ 19,332,489       2,471,856     12.79 %  
                         
                         
      Earnings per common share:                  
      Basic   $ 2.72     $ 1.83       0.89     48.63 %  
      Diluted   $ 2.72     $ 1.83       0.89     48.63 %  
                         
                         
      Per share amounts for December 31, 2023 has been adjusted to reflect the April 22, 2024 4-for-1 stock dividend.
       
    MORRIS STATE BANCSHARES, INC.
    AND SUBSIDIARIES
                                         
    Selected Financial Information
                                         
                                         
              Year Ending   Quarter Ended
              December 31, December 31,     December 31,   September 30,   June 30,   March 31,   December 31,
                2024     2023         2024         2024       2024       2024       2023  
      (Dollars in thousand, except per share data)       (Unaudited) (Unaudited)     (Unaudited)     (Unaudited)   (Unaudited)   (Unaudited)   (Unaudited)
                                         
      Per Share Data                                  
      Basic Earnings per Common Share       $ 2.72   $ 1.83       $ 0.52       $ 0.51     $ 0.50     $ 0.46     $ 0.56  
      Diluted Earnings per Common Share         2.72     1.83         0.52         0.51       0.50       0.46       0.56  
      Dividends per Common Share         0.368     0.352         0.092         0.092       0.092       0.092       0.088  
      Book Value per Common Share         18.46     16.84         18.46         17.99       17.56       17.20       16.84  
      Tangible Book Value per Common Share         17.45     15.79         17.45         16.97       16.53       16.17       15.79  
                                         
                                         
      Average Diluted Shares Outstanding         10,603,218     10,582,377         10,596,432         10,602,348       10,611,811       10,582,377       10,582,820  
      End of Period Common Shares Outstanding         10,593,225     10,582,219         10,593,225         10,596,345       10,605,080       10,582,218       10,581,052  
                                         
      Selected Balance Sheet Data (Bank Only)                                  
      Net Loans       $ 1,101,586   $ 1,049,480       $ 1,101,586       $ 1,048,418     $ 1,023,367     $ 1,040,412     $ 1,063,772  
      Non-Interest Bearing Deposits         347,929     315,953         347,929         336,698       339,177       346,232       339,785  
      Interest Bearing Demand Deposits         260,371     286,112         260,371         249,649       243,744       260,624       270,473  
      Savings & Money Market Deposits         402,641     393,139         402,641         401,234       422,048       441,911       444,170  
      Time Deposits         276,898     231,692         276,898         211,590       193,110       175,534       161,933  
                                         
      Earnings Summary                                  
      Net Interest Income         55,025     51,701         14,496         13,998       13,569       12,963       12,934  
      Provision for Credit Losses         557     450         28         252       272       5       242  
      Non-Interest Income         4,781     4,718         1,076         1,106       1,392       1,208       1,098  
      Non-Interest Expense         36,245     34,488         8,934         9,142       9,047       9,123       8,275  
      Earnings before Taxes         23,004     21,481         6,610         5,710       5,641       5,043       5,515  
      Income Taxes         1,199     2,149         465         263       319       152       (416 )
      Net Income         21,804     19,332         6,144         5,447       5,322       4,891       5,931  
                                         
      Annualized Performance Ratios (Bank Only)                                  
      Return on Average Assets         1.68 %   1.55 %       1.79 %       1.65 %     1.73 %     1.55 %     1.84 %
      Return on Average Equity         12.74 %   12.25 %       13.69 %       12.37 %     13.12 %     11.74 %     14.11 %
      Equity/Assets         12.84 %   13.07 %       12.84 %       13.23 %     13.18 %     13.09 %     13.07 %
      Cost of Funds         2.12 %   1.57 %       2.06 %       2.18 %     2.16 %     2.09 %     1.92 %
      Net Interest Margin         4.06 %   3.98 %       4.17 %       4.10 %     4.02 %     3.95 %     3.97 %
      Efficiency Ratio         58.27 %   57.51 %       54.21 %       58.90 %     58.36 %     61.92 %     55.17 %
      Efficiency Ratio Net of Tax Credit Amortization Expense   53.30 %   52.99 %       49.45 %       53.96 %     53.40 %     56.68 %     50.90 %
      Nonperforming Assets to Total Loans and Other Real Estate   0.41 %   0.58 %       0.41 %       0.46 %     0.39 %     0.28 %     0.58 %
      Past Due and Nonaccural Loans Ratio         0.72 %   0.65 %       0.72 %       1.01 %     0.68 %     0.73 %     0.65 %
      Net Chargeoffs to Average Loans         0.04 %   0.01 %       0.01 %       0.03 %     0.02 %     0.00 %     0.33 %
                                         
                                         
      Shares outstanding and per share amounts for March 31, 2024 and prior quarters have been adjusted to reflect the April 22, 2024 4-for-1 stock dividend.
                                         

    The MIL Network –

    February 5, 2025

  • MIL-OSI: D. Boral Capital Announces Approval as a Nasdaq Member

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Feb. 04, 2025 (GLOBE NEWSWIRE) — D. Boral Capital, a premier Global Investment Bank focused on high-quality mid-market and growth issuers announces its approval as a Limited Underwriting Member of the Nasdaq Stock Market, one of the largest and most active securities exchanges in the world. As of February 3, 2025, D. Boral Capital was officially accepted, and this approval enables it to act as a principal lead underwriter under Nasdaq Listing Rule 5210(m).

    D. Boral Capital’s membership in Nasdaq represents a significant milestone in the firm’s growth and evolution. As a lead underwriter for IPOs, this achievement enhances our ability to execute high-profile investment banking transactions and solidifies its position for continued growth and influence within the financial services sector.

    David W. Boral, Founder & CEO, states: “D. Boral Capital’s joining Nasdaq marks a significant milestone for the firm, highlighting steadfast dedication to providing outstanding services to our clients. This achievement grants us access to a platform renowned for its innovation, efficiency, and global presence—principles that deliver unmatched insight and value to both our client issuers and investors.”

    D. Boral Capital’s Nasdaq membership follows a period of significant growth, further reinforcing the firm’s dedication to ongoing innovation and excellence. D. Boral Capital looks forward to leveraging this membership to expand our capabilities and provide even greater value for our clients.

    About D. Boral Capital
    D. Boral Capital is a premier, relationship-driven global investment bank headquartered in New York. The firm is dedicated to delivering exceptional strategic advisory and tailored financial solutions to middle-market and emerging growth companies. With a proven track record, D. Boral Capital provides expert guidance to clients across diverse sectors worldwide, leveraging access to capital from key markets, including the United States, Asia, Europe, the UAE, and Latin America.

    A recognized leader on Wall Street, D. Boral Capital has successfully aggregated over $23 billion in capital since its inception in 2020, executing approximately 300 transactions across a broad range of investment banking products.

    Safe Harbor Statement
    This press release contains certain “forward-looking statements.” These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the parties’ perspectives and expectations, are forward-looking statements. The words “will,” “expect,” “believe,” “estimate,” “intend,” and “plan” and similar expressions indicate forward-looking statements.

    Such forward-looking statements are inherently uncertain, and shareholders and other potential investors must recognize that actual results may differ materially from the expectations as a result of a variety of factors. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties, and other factors, many of which are hard to predict or control, that may cause the actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. The forward-looking information provided herein represents the Company’s estimates as of the date of this press release, and subsequent events and developments may cause the Company’s estimates to change.

    The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.

    A further list and description of risks and uncertainties can be found in the documents the Company has filed or furnished or may file or furnish with the U.S. Securities and Exchange Commission, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and the Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

    Contact Us:
    D. Boral Capital
    590 Madison Avenue
    New York, NY 10022
    Main Phone: +1 (212) 970-5150
    www.dboralcapital.com
    info@dboralcapital.com

    The MIL Network –

    February 5, 2025

  • MIL-OSI: REC Solar Appoints Colin Temme to General Counsel

    Source: GlobeNewswire (MIL-OSI)

    SAN LUIS OBISPO, Calif., Feb. 04, 2025 (GLOBE NEWSWIRE) — REC Solar, a leading nationwide developer of on-site solar and storage projects, has hired Colin Temme as General Counsel. Temme brings over a decade of experience in renewable energy, sustainable infrastructure and project finance and will provide legal advice and guidance to the Company as it grows its footprint and customer base across the U.S.

    Temme joins REC Solar from Generate Capital, where he served as Associate General Counsel, structuring and negotiating mergers, acquisitions and project financing for community solar and fuel cell assets. He also led debt and equity investment strategies supporting sustainable infrastructure development, spanning community and utility-scale solar, microgrids, energy efficiency and fiber networks. Before that, Temme was Assistant General Counsel at The AES Corporation, where he played a key role in structuring and negotiating distributed generation solar and solar-plus-storage projects. He also built and led a legal team dedicated to AES’ distributed generation solar business.

    “Colin is a terrific addition to the REC Solar team and its leadership. His experience in renewable energy and sustainable infrastructure, combined with his proven track record in legal leadership, will be a huge asset as we continue to grow in the solar industry,” said Robb Jetty, CEO of REC Solar. “We’re confident his expertise will help us navigate opportunities and challenges ahead to deliver even more value to our customers.”

    “I am thrilled to join the REC Solar team to help grow the business and shape its future,” said Colin Temme, General Counsel. “From my first interactions with REC Solar, I was drawn to the company’s strategy, direction and culture. The leadership team’s vision aligns with my professional experience, and I am excited to contribute from day one while embracing new challenges in this role.”

    This appointment is pivotal for REC Solar as it grows its business in tandem with the U.S. solar market and navigates a new policy environment. With energy demand rising by 2% annually, experts predict that the U.S. solar industry will grow by 34% in 2025 and by 17% in 2026.

    About REC Solar
    Founded in 1997, REC Solar is a trusted leader in solar energy integration, delivering high-quality solar and energy storage solutions to businesses, universities, municipalities and more. REC Solar offers a seamless experience, from zero-upfront-cost financing to long-term ownership, operation and maintenance of solar projects. With decades of expertise, REC Solar is committed to providing every customer the same integrity and high-quality solutions and services that have made it a trusted solar company for the past 25+ years. Learn more about REC Solar at recsolar.com.

    Media inquiries:
    recsolar@fischtankpr.com

    The MIL Network –

    February 5, 2025

  • MIL-OSI: authID’s Biometric Identity Platform Selected by Salus to Secure Its Financial Services Solutions for the Underprivileged

    Source: GlobeNewswire (MIL-OSI)

    Microlending platform Salus will leverage authID’s technology to provide applicants with intuitive and data-secure authentication

    DENVER, Feb. 04, 2025 (GLOBE NEWSWIRE) — authID® (Nasdaq: AUID), a leading provider of biometric identity verification and authentication solutions, today announced it has been chosen by Salus, an inclusive microlending platform servicing underprivileged communities, for onboarding and authentication of applicants while protecting user privacy and maintaining compliance with regulatory requirements.

    “Our goal in choosing authID was to provide the most advanced and seamless user experience for our customers, and the best outcome for our partners,” said James Chemplavil, CEO of Salus. “In order to have that best-in-class experience for the populations we service, we need fast, friendly, accurate verification, and that’s precisely what we get with authID. Their solutions for onboarding and authenticating applicants help our partners build the mutual trust they need with their own members, in order to fulfill our joint mission to bring financial stability to people who have little access to traditional banking.”

    Salus was launched in 2023 to partner with credit unions for providing credit to lower income, thin-file, and typically younger constituents. It provides a digital platform that helps credit unions create financial access and wellness for over 120 million young, under-served adults without prime credit scores. Their technology integrates with existing platforms for automated underwriting and data analysis to complement credit histories, allowing their customers to more confidently make loans to underbanked members.

    “We are thrilled to add Salus to our portfolio of customers whose mission in life is to serve individuals who struggle with traditional banking processes,” said Rhon Daguro, CEO of authID. “We greatly admire the institutions within our customer base who help underprivileged citizens participate more fully in the economy. We also recognize that they need to quickly and accurately onboard as many legitimate applicants as possible, while deflecting any criminals, deepfakes, and frauds who might try to take advantage of their services.”

    In choosing authID for identity verification, Salus examined a variety of vendors in the space and found authID’s solutions for biometric verification and authentication to be best in class for aiding their credit union partners in identifying credit applicants. Previous solutions dependent on probabilistic fraud signals did not provide a guided user experience for satisfactory outcomes, whereas authID brings a deterministic validation of identity in identifying online participants.

    “With our delivery of speed, accuracy, privacy protection, and commitment to compliance, we are the future of identity verification and authentication,” added Daguro. “We are more than pleased to bring that level of performance to our partnership with Salus and help them in their mission to broaden access to financial participation. This is another example of how our clients leverage our technology to securely expand their own customer portfolios.”

    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, FIDO2 passwordless login, and biometric authentication and account recovery, with a fast, accurate, user-friendly experience, authID delivers biometric identity processing in 700ms. Binding a biometric root of trust for each user to their account, authID stops fraud at onboarding, detects and stops deepfakes, eliminates password risks and costs, and provides the fastest, frictionless, and the more 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 Salus

    Salus is a fintech organization that empowers credit unions with solutions and data services to aid in improving the financial wellbeing of underprivileged and underbanked communities. Their platform enables frictionless integrations with credit unions’ systems to eliminate manual review and the hurdles of credit checks while automating the underwriting process and delivering financial services to individuals who are otherwise unable to access traditional credit.

    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

    The MIL Network –

    February 5, 2025

  • MIL-OSI: Franklin Electric Schedules its Fourth Quarter and Fiscal Year 2024 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    FORT WAYNE, Ind., Feb. 04, 2025 (GLOBE NEWSWIRE) — Franklin Electric Co., Inc. (NASDAQ: FELE) will release its fourth quarter and fiscal year 2024 earnings at 8:00 am ET on Tuesday, February 18, 2025. A conference call to review earnings and other developments in the business will commence at 9:00 am ET. The fourth quarter and fiscal year 2024 earnings call will be available via a live webcast. The webcast will be available in a listen only mode by going to:

    https://edge.media-server.com/mmc/p/9jnstij5

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

    https://register.vevent.com/register/BI4b232e4ceea6435ba8f046e92e18e563

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

    A replay of the conference call will be available from Tuesday, February 18, 2025, through 9:00 am ET on Tuesday, February 25, 2025, by visiting the listen-only webcast link above.

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

    “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including those relating to market conditions or the Company’s financial results, costs, expenses or expense reductions, profit margins, inventory levels, foreign currency translation rates, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including but not limited to, risks and uncertainties with respect to general economic and currency conditions, various conditions specific to the Company’s business and industry, weather conditions, new housing starts, market demand, competitive factors, changes in distribution channels, supply constraints, effect of price increases, raw material costs, technology factors, integration of acquisitions, litigation, government and regulatory actions, the Company’s accounting policies, future trends, epidemics and pandemics, and other risks which are detailed in the Company’s Securities and Exchange Commission filings, included in Item 1A of Part I of the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2023, Exhibit 99.1 attached thereto and in Item 1A of Part II of the Company’s Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements.

    CONTACT: Jeff Taylor
    Franklin Electric Co., Inc.
    260.824.2900

    The MIL Network –

    February 5, 2025

  • MIL-OSI: Sunrun’s Power Plant Programs Complete Successful 2024 with Expansion and Innovation To Support Power Grids Across the Country

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, Feb. 04, 2025 (GLOBE NEWSWIRE) — Sunrun (Nasdaq: RUN), the nation’s leading provider of clean energy as a subscription service, announced today that its growing portfolio of virtual power plants (VPPs) successfully supported power grids across the country in 2024 with a combined instantaneous peak of nearly 80 megawatts—a capacity greater than many traditional fossil-fuel power plants. These innovative programs leveraged Sunrun’s fleet of residential solar and battery systems—the largest in America—empowering customers to generate, store, and share their own solar energy.

    In 2024, more than 20,000 Sunrun customers participated in 16 virtual power plant programs across nine states and territories. From California and Texas to Puerto Rico and New England, the customers’ batteries supplied on-demand, stored solar energy to augment power resources during hundreds of critical energy events.

    “Utilities are at a point where they can’t grow fast enough for the increased demand for electricity, which is why they are coming to Sunrun for help,” said Sunrun CEO Mary Powell. “Our power plant portfolio is at an inflection point because we have the resources and expertise to quickly develop, deploy, and scale programs to provide smart, controllable load. Combining solar with storage not only provides American families with energy independence and peace of mind, but also the ability to support the grid when it’s needed most.”

    Extreme weather events and soaring electricity demand underscore the importance for these power plant programs. The North American Electric Reliability Corporation warns that over half the U.S. faces blackout risks in the next decade due to capacity shortfalls, as peak demand continues to climb with the rise of artificial intelligence, domestic manufacturing growth, and electrification of the economy. According to the Department of Energy, data center load growth has tripled over the past decade and is expected to more than double by 2028.

    Sunrun’s 2024 virtual power plant initiatives have demonstrated the ability to enhance grid reliability, lower harmful emissions, and decrease costs for all electricity customers. Notable examples of performance include:

    • California: Over 16,000 Sunrun customers participating in California’s statewide CalReady program—the nation’s largest single-owner virtual power plant—delivering an average of 48 megawatts of stored solar energy to the grid during peak evening hours in the summer months. Output peaked at 54 megawatts, enough to power approximately 48,000 homes—equivalent to a city the size of Santa Monica.
    • Puerto Rico: Over 4,000 customers’ batteries participating in Sunrun’s PowerOn Puerto Rico program provided vital backup energy to the island’s grid during more than 70 energy shortfall events. Within just an hour’s notice, Sunrun dispatched its batteries as a single power plant to avoid rolling blackouts to help keep the lights on for communities across Puerto Rico.
    • Texas: Sunrun partnered with Tesla Electric, a retail electricity provider operated by Tesla Energy Ventures LLC, a subsidiary of Tesla, Inc., and Vistra on two virtual power plants in the Lone Star State. Still growing, the Tesla Electric program leverages home batteries to provide reserves during peak consumption. Customers receive an annual payment, currently set at $400 per Powerwall, while Sunrun earns recurring revenue through the program. The Vistra partnership also offers customers financial incentives and credits.
    • New York: Sunrun activated the state’s largest residential virtual power plant in collaboration with Orange & Rockland Utilities, Inc., a subsidiary of Consolidated Edison, Inc. Over 300 solar-plus-storage systems provided stored solar energy during peak demand events in the summer. Participating customers received a free or heavily discounted home battery in exchange for their commitment to the 10-year program, while Sunrun received upfront payments from O&R.
    • Maryland: Sunrun launched the nation’s first bidirectional electric vehicle-to-home virtual power plant, partnering with Baltimore Gas and Electric Company (BGE), a subsidiary of Exelon Corporation, to utilize a small group of customer-owned Ford F-150 Lightnings. BGE was awarded grant funding from the Department of Energy to create the program, and Sunrun developed and operated this first-in-the-nation electric vehicle VPP. Participating customers earned several hundred dollars by sharing energy from their F-150 Lightning trucks.

    “My wife and I earned nearly $1,700 just by sharing the energy from our Ford Lightning,” said Sunrun customer Brian Foreman. “It’s exciting to be an early adopter of this technology and making extra money with our electric truck is just an added bonus.”

    “Sunrun is executing its virtual power plant strategy at a scale that is unmatched, and we’re excited to monetize more battery assets and secure additional, recurring revenue streams in 2025,” said Sunrun President and Chief Revenue Officer Paul Dickson. “With over half of new Sunrun customers installing storage, we are laying a strong foundation to create future programs where there is value for our customers, benefit to the grid, and revenue for Sunrun.”

    Sunrun’s storage-first approach has positioned it to become one of the nation’s largest distributed power providers, serving as a vital resource for utilities and grid operators in protecting Americans from outages, pollution, and rising energy costs. Peak season customer enrollment in Sunrun’s power-sharing programs grew approximately 100% year-over-year in 2024.

    “Sunrun is the industry leader, and we’re proving that every utility can and should have a virtual power plant program,” said Chris Rauscher, head of Grid Services at Sunrun. “Our largest and most successful programs are in Puerto Rico and California—places with vastly different power grids—but both equally benefiting from Sunrun customers’ solar-plus-storage systems being networked together to augment supply. I want to thank our amazing team which has turned the dream of VPPs into a reality.”

    About Sunrun
    Sunrun Inc. (Nasdaq: RUN) revolutionized the solar industry in 2007 by removing financial barriers and democratizing access to locally-generated, renewable energy. Today, Sunrun is the nation’s leading provider of clean energy as a subscription service, offering residential solar and storage with no upfront costs. Sunrun’s innovative products and solutions can connect homes to the cleanest energy on earth, providing them with energy security, predictability, and peace of mind. Sunrun also manages energy services that benefit communities, utilities, and the electric grid while enhancing customer value. Discover more at www.sunrun.com.

    Media Contact
    Wyatt Semanek
    Director, Corporate Communications
    press@sunrun.com

    Investor & Analyst Contact
    Patrick Jobin
    SVP, Deputy CFO & Investor Relations Officer
    investors@sunrun.com

    The MIL Network –

    February 5, 2025

  • MIL-OSI Economics: Agnico Eagle and O3 Mining Announce Subsequent Acquisition Transaction and Completion of Offer

    Source: Agnico Eagle Mines

    • The Offer has now expired and Agnico Eagle has taken-up and acquired 95.6% of the issued and outstanding O3 Mining shares
    • Agnico Eagle and O3 Mining will enter into an amalgamation agreement under which Agnico Eagle will acquire all remaining O3 Mining shares by way of amalgamation
    • Remaining O3 Mining shares (other than shares held by dissenting shareholders) and warrantholders who exercise their warrants after the amalgamation will receive $1.67 per share in cash
    • Questions or Need Assistance? Contact Laurel Hill Advisory Group for assistance at 1-877-452-7184 or email assistance@laurelhill.com 

    (All amounts expressed in Canadian dollars unless otherwise noted)

    TORONTO, Feb. 4, 2025 /CNW/ – Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (“Agnico Eagle“) and O3 Mining Inc. (TSXV: OIII) (OTCQX: OIIIF) (“O3 Mining“) are pleased to jointly announce the expiry of Agnico Eagle’s board-supported take-over bid (the “Offer“) for all of the outstanding common shares of O3 Mining (the “Common Shares“) for $1.67 in cash per Common Share. Agnico Eagle has taken-up and acquired an aggregate of 114,785,237 Common Shares that were tendered to the Offer, representing approximately 95.6% of the issued and outstanding Common Shares on a basic basis. As a result, as of the date hereof, Agnico Eagle beneficially owns, and exercises control and direction over, an aggregate of 115,842,990 Common Shares, representing approximately 96.5% of the issued and outstanding Common Shares on a basic basis. This includes the additional 4,360,806 Common Shares (the “Deposited Shares“) tendered to the Offer during the mandatory 10-day extension period that expired at 11:59 p.m. (EST) on February 3, 2025. The aggregate consideration payable for the Deposited Shares is $7,282,546. Agnico Eagle will pay for the Deposited Shares by February 6, 2025.

    Subsequent Acquisition Transaction

    Agnico Eagle Abitibi Acquisition Corp., a wholly-owned subsidiary of Agnico Eagle, and O3 Mining will amalgamate under the Business Corporations Act (Ontario) (the “Amalgamation“), with the amalgamated entity (“Amalco“) becoming a wholly-owned subsidiary of Agnico Eagle. The Amalgamation will constitute the subsequent acquisition transaction contemplated by the Offer (the “Subsequent Acquisition Transaction“), by which Agnico Eagle will acquire ownership of 100% of the Common Shares.

    Each O3 Mining shareholder (other than Agnico Eagle and any O3 Mining shareholder who validly exercises dissent rights in relation to the Amalgamation) will, upon completion of the Amalgamation, receive one redeemable preferred share of Amalco (each, a “Redeemable Preferred Share“) for each Common Share held immediately prior to the effective time of the Amalgamation. The Redeemable Preferred Shares will be automatically redeemed effective immediately following the effective time of the Amalgamation for $1.67 in cash per Redeemable Preferred Share (the “Redemption Consideration“) held immediately prior to the effective time of the Amalgamation. The Redemption Consideration is the same as the consideration that was offered to O3 Mining shareholders under the Offer.

    The Amalgamation must be approved by (i) at least two-thirds of the votes cast by O3 Mining shareholders at a special meeting of O3 Mining shareholders (the “Meeting“) and (ii) a simple majority of the votes cast by O3 Mining shareholders at the Meeting, excluding votes from O3 Mining shareholders required to be excluded by Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101“). As Agnico Eagle beneficially owns, and exercises control and direction over, Common Shares carrying more than two-thirds of the votes attached to all of the issued and outstanding Common Shares and the Common Shares taken-up and acquired under the Offer represent more than a majority of the votes attached to the Common Shares that may be voted in the “minority” vote under MI 61-101, Agnico Eagle is able to ensure the successful outcome of the shareholder votes in respect of the Amalgamation. The O3 Mining board recommends that O3 Mining shareholders vote FOR the Amalgamation.

    Additional information regarding the terms of the amalgamation agreement and the Amalgamation will be provided in the management information circular of O3 Mining (the “Circular“) for the Meeting. It is anticipated that the Circular will be mailed to O3 Mining shareholders in February 2025 and the Meeting will be held in March 2025. Copies of the amalgamation agreement and the Circular will be made available on O3 Mining’s issuer profile on SEDAR+ at www.sedarplus.ca.

    The Amalgamation is expected to close prior to March 31, 2025. Following completion of the Amalgamation, the Common Shares will be de-listed from the TSX Venture Exchange and O3 Mining will make an application to the Ontario Securities Commission to cease to be a reporting issuer under Canadian securities laws. Upon O3 Mining ceasing to be a reporting issuer, O3 Mining will no longer be subject to the ongoing continuous disclosure and reporting obligations currently imposed on O3 Mining as a reporting issuer and will be a private company that is wholly-owned by Agnico Eagle.

    Information for Warrantholders

    Certain Common Share purchase warrants of O3 Mining (the “Warrants“) remain issued and outstanding, which are governed in accordance with the warrant indenture dated August 28, 2024 between O3 Mining and Odyssey Trust Company, as warrant agent. These Warrants are exercisable at $1.45 per Warrant until August 28, 2026. O3 Mining intends to enter into a supplemental indenture to provide that holders of such Warrants will receive, on exercise of their Warrants in lieu of Common Shares, $1.67 in cash following the Amalgamation.

    Updated Early Warning Disclosure Regarding O3 Mining

    Immediately prior to the take-up of the Deposited Shares under the Offer, Agnico Eagle beneficially owned, and exercised control and direction over, 111,482,184 Common Shares, representing approximately 92.9% of the issued and outstanding Common Shares on a basic basis, and 270,000 Warrants exercisable for an aggregate of 270,000 Common Shares at an exercise price of $1.45 per Warrant. In addition, Agnico Eagle holds a convertible senior unsecured debenture in the principal amount of $10,000,000 dated June 19, 2023 (the “Convertible Debenture“). Assuming the full exercise of all Warrants held by Agnico Eagle and the full conversion of the Convertible Debenture immediately prior to the take-up of Deposited Shares under the Offer, Agnico Eagle would beneficially own, and exercise control and direction over, 116,630,233 Common Shares, representing approximately 93.1% of the issued and outstanding Common Shares on a partially-diluted basis.

    Agnico Eagle acquired an additional 4,360,806 Deposited Shares pursuant to the Offer during the mandatory 10-day extension period, representing all of the Common Shares validly deposited and not withdrawn as of 11:59 p.m. (EST) on February 3, 2025, for aggregate consideration of $7,282,546 in cash. As a result, as of the date hereof, Agnico Eagle beneficially owns, and exercises control and direction over, an aggregate of 115,842,990 Common Shares, representing approximately 96.5% of the issued and outstanding Common Shares on a basic basis. Assuming the full exercise of all Warrants held by Agnico Eagle and the full conversion of the Convertible Debenture, Agnico Eagle would beneficially own, and exercise control and direction over, 120,991,039 Common Shares, representing approximately 96.6% of the issued and outstanding Common Shares on a partially-diluted basis.

    An early warning report in respect of the foregoing will be filed by Agnico Eagle in accordance with applicable securities laws. To obtain a copy of the early warning report, please contact:

    Agnico Eagle Mines Limited
    c/o Investor Relations
    145 King Street East, Suite 400
    Toronto, Ontario M5C 2Y7
    Telephone: 416-947-1212
    Email: investor.relations@agnicoeagle.com

    Agnico Eagle’s head office is located at 145 King Street East, Suite 400, Toronto, Ontario M5C 2Y7. O3 Mining’s head office is located at 155 University Avenue, Suite 1440, Toronto, Ontario M5H 3B7.

    Advisors

    Edgehill Advisory Ltd. is acting as financial advisor to Agnico Eagle. Davies Ward Phillips & Vineberg LLP is acting as legal advisor to Agnico Eagle.

    Maxit Capital is acting as financial advisor to O3 Mining. Bennett Jones LLP is acting as legal advisor to O3 Mining. Fort Capital is acting as financial advisor to the Special Committee of independent directors of O3 Mining. Cassels Brock & Blackwell LLP is acting as legal advisor to the Special Committee.

    Odyssey Trust Company will act as depositary for the Amalgamation and Laurel Hill Advisory Group is acting as information agent. If you have any questions or require assistance, please contact Laurel Hill Advisory Group, by phone at 1-877-452-7187 or by e-mail at assistance@laurelhill.com.

    About O3 Mining Inc.

    O3 Mining Inc. is a gold explorer and mine developer in Québec, Canada, adjacent to Agnico Eagle’s Canadian Malartic mine. O3 Mining owns a 100% interest in all its properties (128,680 hectares) in Québec. Its principal asset is the Marban Alliance project in Québec, which O3 Mining has advanced over the last five years to the cusp of its next stage of development, with the expectation that the project will deliver long-term benefits to stakeholders.

    About Agnico Eagle Mines Limited

    Agnico Eagle is a Canadian based and led senior gold mining company and the third largest gold producer in the world, producing precious metals from operations in Canada, Australia, Finland and Mexico, with a pipeline of high-quality exploration and development projects. Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading sustainability practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.

    Cautionary Note Regarding Forward-Looking Information

    This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation that is based on current expectations, estimates, projections, and interpretations about future events as at the date of this news release. Forward-looking information and statements are based on estimates of management by O3 Mining and Agnico Eagle, at the time they were made, and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information or statements. Forward-looking statements in this news release include, but are not limited to, statements regarding: the structure, consideration, timing and completion (if at all) of the Subsequent Acquisition Transaction; the ability of Agnico Eagle to complete the Subsequent Acquisition Transaction to acquire 100% of O3 Mining by way of the Amalgamation (if at all); and the timing of the mailing of the Circular, the Meeting and completing the Amalgamation. Material factors or assumptions that were applied in formulating the forward-looking information contained herein include, without limitation, the expectations and beliefs of Agnico Eagle and O3 Mining that any second-step transaction will be successful and the ability to achieve goals, including the integration of the Marban Alliance property to the Canadian Malartic land package and the ability to realize synergies arising therefrom. Agnico Eagle and O3 Mining caution that the foregoing list of material factors and assumptions is not exhaustive. Although the forward-looking information contained in this news release is based upon what Agnico Eagle and O3 Mining believe, or believed at the time, to be reasonable expectations and assumptions, there is no assurance that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither O3 Mining, nor Agnico Eagle nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. O3 Mining and Agnico Eagle do not undertake, and assume no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable law. These statements speak only as of the date of this news release. Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of Agnico Eagle or any of its affiliates or O3 Mining.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

    View original content to download multimedia:https://www.prnewswire.com/news-releases/agnico-eagle-and-o3-mining-announce-subsequent-acquisition-transaction-and-completion-of-offer-302367380.html

    SOURCE Agnico Eagle Mines Limited

    MIL OSI Economics –

    February 5, 2025

  • MIL-OSI USA: MLK Legacy Awards Presented at Living Legacy Convocation

    Source: US State of Connecticut

    UConn’s MLK Legacy Awards for 2025 were presented on Friday, Jan. 31 during a ceremony at the Jorgensen Center for the Performing Arts. The ceremony was part of the MLK Living Legacy Convocation, which featured Grammy-nominated singer and songwriter Todd Dulaney and UConn’s Voices of Freedom gospel choir.

    The MLK Legacy Awards at UConn are presented by the Office for Diversity and Inclusion and recognize members of the community who have demonstrated a commitment to raising awareness, fighting injustices, assisting their communities, and embodying the Rev. Martin Luther King Jr.’s philosophy of nonviolence. The awards affirm and honor work and a continued dedication to making communities just, equitable, and fair for all people.

    This year’s winners by category are:

    Undergraduate Student – Andy Zhang ’26 (CLAS)

    Zhang is pursuing dual degrees in economics and environmental sciences. The Sandy Hook native works as an intern in the Office of Sustainability and is the founder and president of the UConn chapter of Plant Futures. He is also an intern with Friends of the Earth. Zhang is passionate about progressive policy and food advocacy and hopes to pursue a career focused on creating equitable and sustainable food systems through innovative policy solutions.

    Graduate Student – Adanma Akoma

    Akoma is a doctoral student in the Department of Materials Science and Engineering and focuses on advanced characterization of materials used for industries that include energy and biomedicine. She serves as the president of BlackSTEM – a group for Black scholars pursuing graduate degrees in the STEM field and is the creative director and founder of the Writing Black Collective (WBC).  Her most recent project for WBC provides a platform for a cohort of writers that aim to demystify the challenges that are often faced by minority students in pursuit of doctoral degrees.

    Community Member – Nelson Merchan

    Merchan is a business advisor at UConn’s Small Business Development Center. In 2019, he was recognized as the state’s top business advisor for securing the highest lending impact. Merchan is a board member of the Western Connecticut State University Foundation, Housatonic Habitat for Humanity, and Housatonic Industrial Corp. Merchan has participated in entrepreneurship development programs in Costa Rica, Chile, and El Salvador.

    Alumni – N. Chineye (Chi) Anako ’12 (CLAS)

    Anako is a public health practitioner whose work has focused on the intersection of public health and health equity solutions. She is currently the regional director of diversity, equity, and inclusion at Trinity Health. She also serves as administrator of the 3+1 Language Services Program at the organization, which provides cultural and linguistic services to patients. Anako serves on the board of the Copper Beech Institute and Universal Health Care Foundation of Connecticut.

    Faculty – Kate Capshaw

    Capshaw is associate dean of diversity, equity, and inclusion in the College of Liberal Arts and Sciences. She has shaped cluster hires that brought new faculty to UConn, worked with departments on inclusion, and supported research and pedagogy on diverse topics and approaches. She is a professor of English and social and critical inquiry, teaching courses on Black youth culture, the graphic novel, and youth literatures. Her research focuses on the role of Black childhood to social justice movements, and she has published books on the Harlem Renaissance, Civil Rights Movement, and 19thcentury Black childhoods, along with  dozens of essays on race, culture, and creativity.

    Staff – Alexis T. R. Monteiro

    Monteiro is a residence hall director committed to fostering equitable and developmental spaces for students and professionals. A first-generation First Year Experience instructor, Monteiro champions impactful initiatives like the prayer room and “Humans of UConn” art exhibit in McMahon Residence Hall. He is the diversity, equity, inclusion, and belonging chair of the Northeast Association of College and University Housing Officers and chair of the Black Professional Network for the Association of College and University Housing Officers-International.

    Team – College of Agriculture, Health and Natural Resources’ Diversity, Equity, Inclusion, and Justice Strategic Vision Implementation Committee

    This committee includes faculty and staff representing the nine academic units in the college. The committee’s goal is to develop mechanisms to build systems with clear and meaningful commitment to DEIJ in the college. The group’s four priority areas are: increasing the diversity of CAHNR community; creating inclusive, culturally sustaining learning environments; identifying and addressing harmful institutional policies and practices; and creating pathways to successful community engagement.

    MIL OSI USA News –

    February 5, 2025

  • MIL-OSI USA: UConn Online Grad Programs Lauded for Quality, Value for Veterans

    Source: US State of Connecticut

    Several of UConn’s online graduate programs are highly ranked for the quality, value, and flexibility they offer to veterans, including one that recently earned the top spot nationwide in U.S. News & World Report’s annual review.

    The UConn School of Nursing’s programs were named No. 1 for veterans wishing to pursue online graduate studies in that field, along with high rankings for others: the School of Business (no. 8); the College of Engineering (no. 22); and the business school’s MBA program (no. 62).

    The new honors underscore UConn’s strong reputation as a welcoming atmosphere for veterans both academically and socially, and as an institution that values their experience and celebrates the unique attributes they bring to the community.

    Alyssa Kelleher ’04 (CLAS) ’17 (BUS), director of UConn’s Office of Veterans Programs & Military Affairs, says her office was thrilled but not surprised that the online graduate programs performed so well in the rankings.

    “Their staff consistently collaborate with our office and have a real commitment and understanding of the big and small things that can help not only military-affiliated students, but all adult learners to be successful in challenging and in-demand programs,” Kelleher says.

    The Office of Veterans & Military Affairs helps veterans, students with active-duty or reservist status, and dependents navigate the programs and services available for their circumstances. It also creates an open and welcoming community for veterans who are UConn employees and alumni, including people serving as mentors to others.

    The support extends not only to students taking classes in person on UConn campuses, but also those learning via online programs such as those that ranked highly in the most recent U.S. News overview.

    Students who are veterans, on active duty, or in reserve status often have unique circumstances when deciding to enroll in graduate study and tend to benefit from the flexibility that online programs can offer.

    When determining which online programs best serve veterans, U.S. News assessed their quality, affordability, and accessibility in light of the special circumstances of that student population, including having access to federal GI Bill benefits and often needing the flexibility of distance learning.

    Those attributes and others helped the UConn School of Nursing’s online graduate programs rise to the top of the U.S. News list this year as the No. 1 choice for veterans studying in those fields.

    The School of Nursing’s applications have skyrocketed in recent years, and it receives strong support from alumni, including a $50 million gift that is helping to fund construction of a new building to house the school’s expanded programming.

    Its online programs in continuing education also are thriving and include family nurse practitioner, adult gerontology acute care nurse practitioner, adult gerontology primary care nurse practitioner, nurse educator, neonatal nurse practitioner, and nurse leader.

    “The School of Nursing’s online MS program provides a supportive online environment for all veterans and members of the military who attend UConn. Additionally, the University’s commitment to veteran support services makes it a top choice for those looking to further their careers in nursing,” says Annette Jakubišin Konicki, the school’s associate dean of graduate studies.

    In assessing how online graduate programs fit veterans’ needs, U.S. News selected offerings that incorporate predominantly internet-based coursework; are housed in regionally accredited institutions; and have strong reputations, faculty credentials, and retention rates.

    U.S. News & Report also only included programs in their rankings with a critical mass of students with military backgrounds.

    Programs included in the rankings must be in colleges of universities certified for the GI Bill, while also either participating in the Yellow Ribbon Program or charging in-state tuition – which can fully covered by the GI bill — for all veterans applying from out of state.

    At UConn and throughout Connecticut, a state tuition waiver and several other financial benefits are available for active duty and veteran students based on their particular circumstances, and other assistance is also available through scholarships and VA Work Study.

    In addition to the School of Nursing’s online graduate programs receiving the highest rank for their accessibility and value to veterans, UConn’s School of Business programs were ranked at No. 8 for veterans pursuing graduate studies online, and its online MBA program was No. 62 for veterans nationwide.

    “We are honored to be recognized as a top business school for veterans. This reflects our commitment to providing the resources, flexibility, and support veterans need to excel academically and professionally,” says Jose M. Cruz, associate dean for graduate programs in the School of Business.

    “Veterans bring exceptional leadership, discipline, and a global perspective, enriching our graduate programs. We remain dedicated to fostering an environment where their strengths thrive and drive lasting impact in the business world,” Cruz says.

    The College of Engineering also had strong showings, with its online graduate program ranking No. 22 nationwide in accessibility and value to veterans.

    The online Master of Engineering program operates within the college’s Center for Advanced Engineering Education and offers 14 concentrations, from biomedical engineering to digital design and manufacturing, to help students earn the skills to advance as engineers in their respective fields.

    “Our degrees are designed to help working engineers balance their work/life responsibilities, empowering them to be a real force in the increasingly evolving, and highly impactful, world of engineering,” says Nora Sutton, director of the Center of Advanced Engineering Education.

    “Veteran tuition waivers have long since been applicable toward our programs, which offer engineering servicemen and women an opportunity to bridge the gap between active service and their professional careers,” she adds.

    JC Zhao, dean of the College of Engineering, says the programs also benefit from talented faculty who are dedicated to dynamic online education, UConn’s academic mission, and its students.

    “We are incredibly proud of the Center for Advanced Engineering Education, which seeks to offer flexible programs for working professionals who are already contributing to society as employed engineers,” Zhao says.

    MIL OSI USA News –

    February 5, 2025

  • MIL-OSI Europe: ASIA/PHILIPPINES – Bishops’ Letter for the Jubilee period: “There is hope for the nation”

    Source: Agenzia Fides – MIL OSI

    CC Adam Cohn

    Manila (Agenzia Fides) – “Hope gives us courage and freedom,” says the Pastoral Letter of the Catholic Bishops’ Conference of the Philippines, distributed and read in churches on February 2 at the conclusion of the Plenary Assembly of the Bishops. The letter, signed by the President of the Bishops’ Conference and Bishop of Caloocan, Cardinal Pablo Virgilio David, focuses on the theme of hope, a virtue, and makes a reference to the most burning issues of the nation: from the demand for transparency and accountability – in view of the mid-term elections scheduled for May 2025 – to the desire to “become a more missionary and synodal Church”. The bishops declare that they are engaged in “communal discernment on the current realities affecting our nation”. The letter quotes the Letter to the Romans: “Hoping against all hope” (cf. Rom 4:18) and states that the Filipino people “struggle with hopelessness, striving to find hope amidst adversities”.”In the sphere of morality, we sense widespread confusion, indifference, apathy, and helplessness because of murderous attacks against life, particularly against innocent ones. The culture of impunity, self-entitlement, and loss of sense of sin are alarming,” it says. Added to this are the traumas “of disasters and tragedies due to climate emergencies”. In the area of economy, “the increase in poverty, manifested by the rise of unemployment and the price of commodities and services”, which widens the gap between rich and poor. In the political realm, “the misuse of public funds and resources”, “the culture of patronage and mendicancy are truly disturbing”, and also in the field of communications, “falsehood, misinformation, and disinformation are weaponized against the truth”.In the face of this reality, it is necessary “to pursue the path of personal, institutional, and ecclesial conversion in order to rediscover hope. This is the opportunity that the Jubilee Year provides us,” the pastoral letter says.Recalling that “hope does not disappoint, because the love of God has been poured out into our hearts” (cf. Rom 5:5), the bishops proclaim that Christ is the Savior and that “God’s love penetrates our suffering, our misery and death, saves and transforms us.” “Love piercing through darkness reveals glimpses of hope” that can be seen “in principle-driven leaders who champion good governance.” “We see sparks of hope,” the bishops continue, “in the idealism of young people and responsible citizens who do not sell their idealism and patriotism,” and “in the spontaneous collaboration among NGOs, civic, and religious organizations” or “in ordinary laborers committed to sincere service even without recognition or reward.” They continued: “We see sparks of hope in those who stake their reputation, even lives, to fight corruption and pursue justice” and “in the Filipino spirit of resiliency, and in those who dedicate themselves to genuine service despite being overwhelmed by their own need.” “We, your spiritual leaders,” the bishops said, “share the pain brought about by these wounds of affliction. We, too, feel the deep disturbance and seeming paralysis that plague many who are dragged into the pit of hopelessness.” Therefore, “in this Jubilee Year of Hope, together we hold precious, the gift of hope sparked by the Holy Spirit. This hope is not simply optimism or a positive feeling. These are glimpses of the gift of hope that comes from the Holy Spirit urging us to act.” “Any action of hope is sourced from the Holy Spirit,” the Pastoral Letter says. “We therefore ask you, dear people, to allow the hope within you to be rekindled. May it become a flame of hope.” “Let the Holy Spirit renew the face of the earth and breathe transformation into the dark spaces and places of our lives and our nation,” the bishops say. “The grace of the Holy Spirit is a gentle breeze that spurs us to continue” and by promoting a “spiritual revolution of hope” and walking together “on a Pilgrimage of Hope towards the Father’s Kingdom.””There is hope! May Pag-Asa!”, the bishops write in the local language, Tagalog. They conclude with the advice of Saint Paul: “Let us not grow weary of doing good” (Galatians 6:9). (PA) (Agenzia Fides, 4/2/2024)
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    MIL OSI Europe News –

    February 5, 2025

  • MIL-OSI: Bread Financial to Participate in the BofA Securities 2025 Financial Services Conference

    Source: GlobeNewswire (MIL-OSI)

    COLUMBUS, Ohio, Feb. 04, 2025 (GLOBE NEWSWIRE) — Bread Financial® Holdings, Inc. (NYSE: BFH), a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions to millions of U.S consumers, today announced the company’s participation in the BofA Securities 2025 Financial Services Conference on Tuesday, Feb. 11.

    Bread Financial Chief Financial Officer Perry Beberman will participate in a fireside chat. The fireside chat will take place at 3:30 p.m. ET and will be broadcast live here.

    The fireside chat can also be accessed through Bread Financial’s investor relations website. A replay of the webcast will be available for 90 days following the event.

    About Bread Financial® 
    Bread Financial® (NYSE: BFH) is a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions to millions of U.S. consumers. Our payment solutions, including Bread Financial general purpose credit cards and savings products, empower our customers and their passions for a better life. Additionally, we deliver growth for some of the most recognized brands in travel & entertainment, health & beauty, jewelry and specialty apparel through our private label and co-brand credit cards and pay-over-time products providing choice and value to our shared customers.

    To learn more about Bread Financial, our global associates and our sustainability commitments, visit breadfinancial.com or follow us on Instagram and LinkedIn.

    Contacts

    Brian Vereb — Investor Relations
    Brian.Vereb@breadfinancial.com

    Susan Haugen — Investor Relations
    Susan.Haugen@breadfinancial.com

    Rachel Stultz — Media
    Rachel.Stultz@breadfinancial.com

    The MIL Network –

    February 5, 2025

  • MIL-OSI: Applied Materials Awards Suppliers for Outstanding Performance

    Source: GlobeNewswire (MIL-OSI)

    SANTA CLARA, Calif., Feb. 04, 2025 (GLOBE NEWSWIRE) — Applied Materials, Inc. today announced the recipients of Supplier Excellence Awards for contributions made to Applied’s business over the past year. The awards reflect outstanding technical and operational performance in areas including quality, service, sustainability, lead time, delivery, cost and responsiveness.

    “Congratulations to our Supplier Excellence Award recipients for providing extraordinary levels of performance, agility and quality in support of Applied Materials,” said Dr. Paul Chhabra, Group Vice President of Global Supply Chain at Applied Materials. “Global megatrends like artificial intelligence and the Internet of Things are driving the need for major advances in semiconductor technology, and we are collaborating closely with our supply chain to deliver innovations in materials engineering to the industry.”

    The following 13 companies received Supplier Excellence Awards in their designated categories for consistently exceeding Applied’s performance expectations over the past year:

    Best in Class Performance
    Adecco
    EDIS Anlagenbau GmbH
    ETLA Limited
    Foxsemicon Integrated Technology Inc.
    KSM Component Co., Ltd.
    Rapid Manufacturing
    Richport Technology Pte Ltd.
    Sumitomo Heavy Industries, Ltd.
    TRUMPF Huettinger, Inc.

    Excellence in Aftermarket Support
    Ferrotec Holdings Corporation

    Excellence in New Product Support
    NorCal Engineering Inc.

    Excellence in Sustainability
    SMC Corporation

    Excellence in Quality
    Brooks Instrument

    About Applied Materials
    Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible a better future. Learn more at www.appliedmaterials.com.

    Contact:
    Ricky Gradwohl (editorial/media) 408.235.4676
    Liz Morali (financial community) 408.986.7977

    The MIL Network –

    February 5, 2025

  • MIL-OSI Russia: The admissions campaign for international applicants continues at HSE

    Translartion. Region: Russians Fedetion –

    Source: State University Higher School of Economics – State University Higher School of Economics –

    The number of applications has almost doubled: to date, more than 2,600 applications have been submitted for undergraduate programs, and more than 2,400 for master’s programs. Such increased interest from foreign applicants in studying at the HSE confirms the status of HSE as one of the most sought-after Russian universities abroad.

    Who most often chooses HSE

    The leading countries in terms of the number of applications submitted for undergraduate programs are Pakistan, Nigeria, Kazakhstan, Uzbekistan, Belarus, Afghanistan, Bangladesh, Kyrgyzstan, Ghana and Moldova. The countries that most frequently apply for graduate programs are Ghana, India, Nigeria, Gambia, Pakistan, Ethiopia, China, Bangladesh, Afghanistan and Cameroon.

    “HSE University sees one of its tasks as the active promotion of Russian education in the international arena. And the growing interest among applicants from Asian and African countries, from the CIS countries only confirms HSE’s reputation as a leading research university with the competencies of the future not only in Russia but also abroad. Moreover, both in full-time and online forms,” noted Victoria Panova, Vice-Rector of HSE University. – After all, in a rather difficult time, HSE, along with 10 world universities, entered the number of leaders in distance education according to the rating of THE Online Learning Rankings 2024 magazine. A wide range of programs in the socio-economic and humanitarian areas, in the creative sphere, brilliant teachers from almost 50 countries of the world, a high level of support for international students and modern infrastructure of HSE – all this meets international standards, and the cost of education is often lower than in Western universities. Applicants and their parents evaluate the advantages and opportunities that HSE provides during and after their studies, and choose us.”

    What opportunities does the university offer to international applicants?

    One of the key advantages for international applicants to HSE remains the opportunity to choose the admission format. The university offers two options: a competition for budget (quota) places under the state scholarship of the Government of the Russian Federation, which covers up to 100% of the cost of education, and admission on a commercial basis.

    Foreign applicants can receive a Russian Government scholarship (quota) based on the results of international Olympiads (applicants to a bachelor’s degree) and based on the results of selection events (minimum scores for Master’s degree And bachelor’s degree).

    Additionally, applicants to undergraduate programs may re-credit results of international and national examinations, which makes the admission process even more flexible.

    Preparing for Study: What to Do If You Don’t Know Russian

    HSE offers to master the Russian language in The Center for the Preparation of Foreign Students, choosing to study for one year. Applicants to the bachelor’s degree program can take specialized entrance examinations and apply for a budget (quota) place with an additional year of preparation and Russian language training. A similar option is possible for future master’s degree students: upon successful completion of the portfolio competition, they can also receive a budget place with a year of training.

    HSE – accessible, convenient, understandable

    Website for international applicants has been translated into seven languages, including Chinese, Spanish, Arabic and Hindi, allowing candidates to easily find the information they need and navigate the admissions process. In addition, international applicants are contacted on social media and during webinars, answering the most pressing questions about education, visas, life in Russia and even whether there are places with halal food.

    “We strive to attract only the best. We work with talented schoolchildren and applicants on an ongoing basis,” says Alexander Deyev, Director of Talent Abroad. “HSE ensures simplicity and accessibility of the entire process — from online application submission to the start of studies. We understand that entering a university, especially in a foreign country, is an important step that can be associated with many difficulties, especially for international students. Therefore, every year we do everything possible to make the application and document preparation process as clear as possible. Online consultations, personal support at all stages of admission, preparation for arrival in Russia — all this allows our applicants to feel confident and calm, to know that they will always be supported and helped to solve any problem that arises.”

    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 –

    February 5, 2025

  • MIL-OSI United Kingdom: ARU project will help the long-term unemployed

    Source: Anglia Ruskin University

    ARU’s Helmore building on East Road in Cambridge

    An important project to help long-term unemployed people in Cambridge return to the labour market through a concept called ‘reverse volunteering’ has received financial backing from Research England.

    Anglia Ruskin University (ARU) will work with a range of partners, including Abbey People, to support local people on ARU’s Cambridge campus by providing experience of work alongside ARU staff members.

    The pilot project will invite local people to “volunteer” on ARU Cambridge campus, mentored by ARU staff members, to experience work and develop the skills necessary to secure quality employment opportunities.  This will include access to ARU’s HR and employability support services to assist with CV writing, job searching skills and submitting job applications.

    The project is being led by ARU’s Students at the Heart of Knowledge Exchange (SHoKE) programme, which empowers ARU students to develop ideas that solve real issues in local communities.

    “As a part of ARU’s strategic and civic responsibilities in nurturing vibrant university communities, this Research England funding will transform an idea into reality by helping long-term unemployed individuals re-enter the workforce.

    “We look forward to collaborating with Abbey People, a community charity, and engaging enthusiastic ARU staff volunteers to provide mentoring and employability support.”

    Neale Daniel, SHoKE Programme Manager at Anglia Ruskin University (ARU)

    “We are pleased to be working with ARU on this initiative, aiming to help people from Abbey gain confidence and experience with university jobs, getting them one step closer to meaningful work, as part of our Abbey Works pilot project.”

    Nicky Shepard, CEO of Abbey People

    ARU is one of six universities to receive a share of £60,000 in funding from Research England’s National Civic Impact Accelerator (NCIA) programme, which enables universities to explore a range of approaches to civic challenges across the country.

    “The six projects funded through the programme give a flavour of the breadth and variety of civic work being undertaken in the action learning process and beyond. We look forward to the lessons and learning that develop through the projects and sharing these with the wider sector.”

    Gemma Adams, Project Manager of the NCIA Action Learning Process, National Co-ordinating Centre for Public Engagement

    MIL OSI United Kingdom –

    February 5, 2025

  • MIL-OSI United Kingdom: Crimebusting Canines Foil Fake Tobacco Sales

    Source: Scotland – City of Dundee

    A canine crime busting duo has sniffed out illegal tobacco in Dundee shops and foiled the sale of fake cigarettes. 

    City council Trading Standards teams have been working with doggy detectives Rose and Boo in an intelligence-led operation,  

    A number of retailers were targeted, with five found to be in possession of illicit tobacco. 

    Nearly 9,000 cigarettes and 1750g of tobacco were seized, and officers also took away 42 non-compliant, oversized vapes. 

    The Dundee initiative was part of Operation Cece Scotland, where Trading Standards work with HMRC to tackle the illegal tobacco trade.  

    HMRC can impose financial sanctions for non-compliance with Tobacco Track and Trace regulations, while Trading Standards can report any criminal breaches to the Procurator Fiscal. 

    Illegal tobacco products are unregulated and can often contain harmful ingredients and bypass quality checks. Illicit tobacco can also pose a safety risk as they are unlikely to meet the self-extinguishing safety standards. 

    If anyone suspects any premises is selling illicit cigarettes or tobacco, they can report it to trading.standards@dundeecity.gov.uk or via Consumer Advice Scotland on 0808 164 6000. 

    Council officer worked with the specially trained tobacco detection dogs from Consumer Protection Dogs UK and their handler. 

    Climate, Environment & Biodiversity Convener Councillor Heather Anderson said: said: “I commend our Trading Standards team for all their work in this area which helps to protect our city’s communities from harm. 

    “Officers will continue to play a part in preventing illegal tobacco from being sold from local shops.” 

    MIL OSI United Kingdom –

    February 5, 2025

  • MIL-OSI: YieldMax™ ETFs Announces Distributions on BIGY ($0.5025) and SOXY ($0.4883)

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, MILWAUKEE and NEW YORK, Feb. 04, 2025 (GLOBE NEWSWIRE) — YieldMax™ today announced distributions for the YieldMax™ Target 12™ ETFs listed in the table below. The Fund seeks to generate income with a 12% target annual income level.

    ETF Ticker1 ETF Name Reference Asset Distribution per Share Distribution Frequency Ex-Date & Record Date Payment Date
    BIGY YieldMax™ Target 12™ Big 50 Option Income ETF Multiple $0.5025 Monthly 2/5/2025 2/6/2025
    SOXY YieldMax™ Target 12™ Semiconductor Option Income ETF Multiple $0.4883 Monthly 2/5/2025 2/6/2025

    You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero.

    Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).

    1Each ETF’s strategy will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF.

    Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.

    Important Information

    Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about each Fund, visit our website at www.YieldMaxETFs.com. Read the prospectus or summary prospectus carefully before investing.

    There is no guarantee that any Fund’s investment strategy will be properly implemented, and an investor may lose some or all of its investment in any such Fund.

    Tidal Financial Group is the adviser for all YieldMax™ ETFs.

    THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

    Risk Disclosures

    Investing involves risk. Principal loss is possible.

    Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer periods.

    Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

    Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

    Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

    Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

    High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.

    Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

    Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

    New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

    Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.

    Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

    YieldMax™ ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, YieldMax™ ETFs.

    © 2025 YieldMax™ ETFs

    The MIL Network –

    February 5, 2025

  • MIL-OSI: FactSet Declares Dividend

    Source: GlobeNewswire (MIL-OSI)

    NORWALK, Conn., Feb. 04, 2025 (GLOBE NEWSWIRE) — FactSet (NYSE: FDS | NASDAQ: FDS), a global financial digital platform and enterprise solutions provider, today announced that its Board of Directors approved a regular quarterly cash dividend of $1.04 per share.

    The cash dividend will be paid on March 20, 2025, to holders of record of FactSet’s common stock at the close of business on February 28, 2025.

    About FactSet

    FactSet (NYSE:FDS | NASDAQ:FDS) helps the financial community to see more, think bigger, and work better. Our digital platform and enterprise solutions deliver financial data, analytics, and open technology to more than 8,200 global clients, including over 218,000 individual users. Clients across the buy-side and sell-side as well as wealth managers, private equity firms, and corporations achieve more every day with our comprehensive and connected content, flexible next-generation workflow solutions, and client-centric specialized support. As a member of the S&P 500, we are committed to sustainable growth and have been recognized amongst the Best Places to Work in 2023 by Glassdoor as a Glassdoor Employees’ Choice Award winner. Learn more at www.factset.com and follow us on X and LinkedIn. 

    FactSet
    Investor Relations:
    Yet He
    +1.212.973.5701
    yet.he@factset.com 

    Media Relations:
    Megan Kovach
    +1.512.736.2795
    megan.kovach@factset.com

    The MIL Network –

    February 5, 2025

  • MIL-OSI: Lantronix to Debut New LM4 AI-Powered Out-of-Band Management Platform at Cisco Live

    Source: GlobeNewswire (MIL-OSI)

    IRVINE, Calif., Feb. 04, 2025 (GLOBE NEWSWIRE) — Lantronix Inc. (NASDAQ: LTRX), a global leader of compute and connectivity for IoT solutions enabling AI Edge intelligence, will debut its new LM4 AI-powered Out-of-Band Management (OOBM) platform at Stand A10 during Cisco Live, February 10–14, 2025, at Amsterdam RAI. Lantronix’s LM4 is the industry’s first console server specifically designed, sized and priced for Intermediate Distribution Frames (IDFs) and compact environments such as ATMs, kiosks, and network aggregation points. Engineered for healthcare, finance, utilities, telecommunications, government, retail and manufacturing, the LM4 delivers enterprise-grade automation, compliance and cybersecurity capabilities, leveraging technology proven in military and financial networks.

    “We’re excited to introduce the LM4 Out-of-Band Management platform, which enables our customers to leverage rules-based AI for secure, reliable and automated network infrastructure recovery and mitigation,” said Mathi Gurusamy, chief strategy officer at Lantronix. “At Lantronix, we are committed to enabling network management automation with innovative solutions that enable our customers to be more efficient, secure and bottom-line focused.”

    Serial console servers represented a $320 million worldwide market in 2024 and are growing at a steady 7 percent rate to a projected $391 million in 2026, according to the Dell’Oro Group.

    Out-of-Band Management Everywhere

    An advanced out-of-band management platform, the small yet powerful LM4 provides access, continuous monitoring and automated remediation of issues as well as control of network infrastructure devices. Operational whether the network is up or down, the expert system uses rules-based AI to recover and mitigate network infrastructure automatically, including reliable and secure access to remote gear during an outage. With up to four ports of serial console connections for directly managing gear plus support for up to 48 virtual ports, the LM4’s compact size and affordable price enables network managers to utilize out-of-band everywhere, including many locations previously considered too small and numerous for advanced out-of-band management.

    Running the powerful LMOS software, the LM4 brings the power of NOC-based software to the network’s edge to create a separate management plane in the rack with network infrastructure. With continuous monitoring and automated runbook responses, the LM4 can detect and solve issues before traditional NOC-based tools even know there is an issue. LMOS features a granular authorization model that integrates with existing access controls as well as automated change management functions, including the ability to store multiple config and OS files with local backups to enable automated rollback of failed config changes.

    Standardize on Lantronix LM-Series Solutions for Enterprise-Grade OOB Management

    The LM4 runs the same LMOS software as the LM83X and LM80 console servers, expanding the LM-Series console access options anywhere from 2–104 ports. The LM-Series is centrally managed by the Lantronix Control Center, which is available to run on-premises as a VM or hosted in the cloud. Lantronix’s LM-Series products allow customers to standardize their out-of-band management and deploy enterprise-grade functionality and AI-driven automation at all points in the network. The result is a more resilient network that’s easier to manage with fewer issues, reduced support truck rolls and stronger security and compliance.

    Lantronix is the go-to source for innovative out-of-band solutions, providing a suite of reliable, secure and easy-to-deploy platforms, all supported by its exceptional service team.

    Also being shown at Cisco Live are:

    Out-of-Band Management Solutions

    • LM83X, delivering AI-driven out-of-band management of 8–104 devices over serial console connections in a scalable and robust console server with dual power inputs. 
    • LM80, providing a fixed 8-port serial AI-driven out-of-band management solution that can automate a majority of routine IT maintenance and recovery tasks quickly and error-free.
    • Lantronix Control Center, a single pane of glass for managing all LM-series devices for secure remote access as well as for automating management of each of the connected network infrastructure devices. It is a single source for Authorization-Authentication-Accounting (AAA) controls, creating monitoring and action rules without scripting, centrally archiving both monitored device operating system and configuration files and compliance reporting.

    Reliable Gateways and Console Servers With Trusted Performance

    • EMG 8500, Lantronix’s Edge Management Gateway that provides secure remote access for branch offices, remote locations, retail stores or anywhere an offsite network device gateway is needed and where space is limited.
    • SLC 8000: Advanced Console Manager, providing secure access to IT equipment with 8–48 ports of RS-232 and USB console connections.
    • G520 Series, Lantronix’s next-generation IoT cellular LTE CAT 4G and 5G gateway designed for industrial applications, including pre-enabled Percepxion™ Edge Solution Platform to increase operational efficiency and prevent cyber-attacks. 
    • X300 Series, a Cellular Compact IoT Gateway Solution that includes Lantronix’s IoT gateway hardware and centralized device management, cellular data, enhanced security and expert technical support in an all-in-one package.

    Expert Technical Support

    • LEVEL Technical Services, providing dedicated technical support experts to assist with implementing out-of-band deployments and limited lifetime equipment warranties. 

    About Lantronix

    Lantronix Inc. is a global leader of compute and connectivity IoT solutions that target high-growth markets, including Smart Cities, Enterprise and Transportation. Lantronix’s products and services empower companies to succeed in the growing IoT markets by delivering customizable solutions that enable AI Edge Intelligence. Lantronix’s advanced solutions include Intelligent Substations infrastructure, Infotainment systems and Video Surveillance, supplemented with advanced Out-of-Band Management (OOB) for Cloud and Edge Computing.

    For more information, visit the Lantronix website.

    “Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking statements within the meaning of federal securities laws, including, without limitation, statements related to Lantronix leadership. These forward-looking statements are based on our current expectations and are subject to substantial risks and uncertainties that could cause our actual results, future business, financial condition, or performance to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. The potential risks and uncertainties include, but are not limited to, such factors as the effects of negative or worsening regional and worldwide economic conditions or market instability on our business, including effects on purchasing decisions by our customers; our ability to mitigate any disruption in our and our suppliers’ and vendors’ supply chains due to the COVID-19 pandemic or other outbreaks, wars and recent tensions in Europe, Asia and the Middle East, or other factors; future responses to and effects of public health crises; cybersecurity risks; changes in applicable U.S. and foreign government laws, regulations, and tariffs; our ability to successfully implement our acquisitions strategy or integrate acquired companies; difficulties and costs of protecting patents and other proprietary rights; the level of our indebtedness, our ability to service our indebtedness and the restrictions in our debt agreements; and any additional factors included in our Annual Report on Form 10-K for the fiscal year ended June 30, 2024, filed with the Securities and Exchange Commission (the “SEC”) on Sept. 9, 2024, including in the section entitled “Risk Factors” in Item 1A of Part I of that report, as well as in our other public filings with the SEC. Additional risk factors may be identified from time to time in our future filings. In addition, actual results may differ as a result of additional risks and uncertainties of which we are currently unaware or which we do not currently view as material to our business. For these reasons, investors are cautioned not to place undue reliance on any forward-looking statements. The forward-looking statements we make speak only as of the date on which they are made. We expressly disclaim any intent or obligation to update any forward-looking statements after the date hereof to conform such statements to actual results or to changes in our opinions or expectations, except as required by applicable law or the rules of the Nasdaq Stock Market LLC. If we do update or correct any forward-looking statements, investors should not conclude that we will make additional updates or corrections.

    ©2025 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners.

    Lantronix Media Contact:
    Gail Kathryn Miller
    Corporate Marketing &
    Communications Manager
    media@lantronix.com

    Lantronix Analyst and Investor Contact:
    investors@lantronix.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/bce840fa-a24a-413e-96ca-23443e7d1d6b

    The MIL Network –

    February 5, 2025

  • MIL-OSI: Navatar’s A-Game Podcast: How Left Lane Associates Beats Top Investment Banks Like Goldman Sachs to Dominate Supply Chain M&A

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK and LONDON, Feb. 04, 2025 (GLOBE NEWSWIRE) — A small boutique investment banking firm based in Canada consistently punches above its weight, competing against big firms like Bank of America, Citibank, and Goldman Sachs to win M&A deals in the supply chain sector.

    In the latest episode of the A-Game podcast, Peter Stefanovich, President of Left Lane Associates, describes how Left Lane’s deep knowledge and wealth of experience in the supply chain has turned them into the advisor of choice in the sector. Left Lane has been doing more deals in the supply chain sector than any other advisory firm in North America, based on deal volume.

    “Somebody like a Goldman Sachs, they are a behemoth, we look up to them, they’re obviously the gold standard. The difference is that the majority of our professionals have lived and breathed transportation. Some of them are third or fourth generation transportation company owners who bought and sold businesses,” says Stefanovich during the podcast conversation with Alok Misra, CEO of Navatar.

    With the knowledge and experience gained from its time spent dedicated to the sector, Left Lane’s team has also developed deep connections with supply chain business owners, executives, and industry-leading associations. In an extensive transaction process, these connections to the industry can play a vital role in resolving issues and negotiating favorable terms for a client.

    Don’t miss this opportunity to learn from industry leaders. The entire episode can be viewed here:

    https://www.youtube.com/watch?v=n8U1emTtfgs

    About Navatar

    Navatar (@navatargroup), the CRM platform for alternative assets and investment banking firms, enables investment professionals make informed decisions based on superior proprietary intelligence. Navatar is used by hundreds of firms including private equity funds, M&A boutiques and bulge brackets, fund of funds, multi-asset credit, hedge funds, real estate funds, venture capital firms, corporate development groups, family offices, private placement and other financial services companies. For more information, visit www.navatargroup.com.

    About Left Lane Associates

    Left Lane Associates is North America’s premier supply chain M&A experts that companies trust to drive their growth and exit plans. Left Lane Associates’ team builds personal relationships through supply chain thought leadership and experience while delivering industry-specific deal expertise to maximize value for its clients, supported by its proprietary processes and research. For more information, visit www.leftlaneassociates.ca.

    Sales Team
    Navatar
    sales@navatargroup.com

    The MIL Network –

    February 5, 2025

  • MIL-OSI Economics: Authority publishes insurance intermediaries thematic report

    Source: Isle of Man

    Published on: 04 February 2025

    The Isle of Man Financial Services Authority has published a report highlighting the findings of a thematic review relating to insurance intermediaries.

    The conduct-based review was carried out by the Prudential Supervision Division to assess compliance with the relevant legislation and identify any common themes regarding the fair treatment of customers.

    A total of 27 Island firms responded to the initial questionnaire, while a sample of seven firms was selected using a risk-based approach to provide additional information as part of a desk-based review in phase two.

    A range of insurance intermediaries took part, including firms that are fully registered or partially exempt, but excluding those registered in respect of packaged bank accounts only.

    The thematic report, which is available to view on the publications section of the Authority’s website, sets out the findings, as well as key observations and examples of good practice and areas for improvement.

    The data will inform the Authority’s picture of risk within the sector and support its work to protect consumers and maintain confidence in the finance industry through effective regulation.

    Andrew Kermode, Head of the Prudential Supervision Division, said: ‘Thematic reviews help to identify issues or trends within industry, including areas that may pose higher risks. The findings improve the depth and breadth of the Authority’s knowledge through observation of firms’ practices and the inspection of records. The review of insurance intermediaries focused on conduct risk, more specifically the fair treatment of customers. Firms are encouraged to read the report and consider any action necessary to ensure their own processes are effective, up-to-date and properly documented.’

    MIL OSI Economics –

    February 5, 2025

  • MIL-OSI United Kingdom: Minister for European Union Relations speech at EU-UK Forum

    Source: United Kingdom – Government Statements

    A speech delivered in Brussels at the EU-UK Forum by Nick Thomas-Symonds, Minister for European Union Relations.

    Many thanks, Paul, and many thanks to the EU-UK Forum for organising this conference.

    And, of course, for the invitation for me to come along to speak.

    I suppose I should also say a big thank you to the Prime Minister for the warm-up act last night.

    It’s a real pleasure to share a stage with my EU counterpart Maros Sefcovic.

    Even though, of course, Maros joined us virtually, our mutual goal of reaching a better UK EU relationship is very real.   

    And today, I want to explain why that is so important…

    …what it could mean for the UK and for Europe…

    …and what I believe the defining structure of that relationship could look like. 

    It is obvious to me – as I am sure it is to all of you – that at a time of such intense global change, the UK and the EU have many mutually aligned interests and challenges.

    We want increased prosperity…

    … we want to strengthen our security…

    …and we want our citizens to be safe. 

    Those joint challenges that we face were powerfully set out by our UK Chancellor, Rachel Reeves…

    …and, indeed, the President of the European Commission, Ursula von der Leyen just last week.

    In her growth speech, my Friend the Chancellor didn’t shy away from the economic challenges that we are confronting. She said:

    “Growth will not come without a fight. Without a government willing to take the right decisions now to change our country’s future for the better.  

    “But for too long, that potential has been held back.”  

    On the same day, the President von der Leyen presented the ‘Competitiveness Compass’ saying that, and I quote:

     “Europe has everything it needs to succeed. But, at the same time, we must fix our weaknesses to regain competitiveness.” 

    The ‘Competitive Compass’ sets out the importance of “trade openness”, “not only for sustaining Europe’s prosperity, but also for enhancing its resilience”.

    We know that low growth is not the destiny for our economies. 

    Research and innovation…

    …reducing red tape…

    …a new skills agenda…

    …boosting productivity…

    …a more resilient economy…

    …all these elements found in the Compass are also crucial parts of the Prime Minister’s Plan for Change.  

    These are areas of mutual interest to both of our economies

    It is also clear about the vital interconnection between security and prosperity…

    …that is why the work we are all engaged in – that Maroš and I are driving forward – is so vital.

    In the UK and indeed in Brussels – we are clear-eyed about the scale of challenges that we face – and the opportunities for growth and innovation.

    The European Union is the UK’s biggest trading partner, with trade totalling – in 2023 – over £800bn.

    Many of our best education and science facilities have lifelong links…

    …and our collaboration on research and development has been the springboard for hugely successful innovations that have driven growth and jobs. 

    And in a more uncertain world, we are regularly reminded that allies are more secure together than they are apart.

    This Government’s position is simple: the UK and the EU are linked through trade and international organisations like NATO…

    …and even though we voted to leave the EU, our role as key allies and trade partner remains.

    We know that for these relationships to flourish, trust is a vital ingredient.  

    This Government recognises that the UK’s signature means something.

    So, we are committed to implementing the Trade and Co-operation Agreement and the Windsor Framework and building on that structure to address emerging challenges and opportunities.

    Now, I want to say – straightforwardly – that we see real opportunities to improve the status quo.

    As ‘Businesseurope’ set out in their report this Autumn: 

    “There remain many unnecessary barriers to trade and investment. Following the elections of new governments in the EU and UK, there is a clear opportunity to upgrade the relationship to deliver for businesses and citizens.”

    I agree with them. 

    A study published last year showed that between 2021 and 2023, the goods EU businesses export to the UK were down by 32%…

    …while UK goods exports to the EU were down by 27%.

    That is not good for British business or European businesses…

    …especially at a time when our economies need a kickstart. 

    Reducing trade barriers is of mutual benefit to the UK and the EU. 

    [redacted political content]

    It was vital that we re-joined Horizon…

    …we should never have left in the first place…

    …but the gap in continuity and other challenges means we haven’t together achieved as much as we could have done.

    It’s especially bad when global competition for innovation has never been fiercer.

    When the UK should have been working more closely with international law enforcement on security…

    …we frankly wasted years undermining the role of the ECHR, in pursuit of a doomed Rwanda deportation scheme.

    We cannot continue in this way with one of our largest, most important partners… 

    …that is why this Government will always work in the UK’s national interest…

    …and for me, that means being a ruthlessly pragmatic negotiator.

    That means making the case for closer working with our allies in the EU, to make people across the UK and the EU safer, more secure and more prosperous…

    …that means making sure that we are working to strengthen cooperation, moving away from a zero sum, win, lose dynamic we have seen in recent years…

    …and that is the spirit I take into discussions with the EU. 

    The UK and the EU have many mutually beneficial interests… 

    …I want to build on these as we work to reset our relationship…

    …to help construct a more secure, a safer and a more prosperous UK and EU. 

    Now this British Government was elected on a mandate…

    …to strengthen national security by reconnecting with our allies…

    …to increase people’s safety through strong borders…

    …and increase prosperity through growth.

    Our European friends are a part of every single one of those priorities…

    …and I believe it’s these priorities that form the three pillars of a reset in our relationship.

    On security – you saw yesterday how seriously we’re taking this.

    Our Prime Minister met with all 27 of the EU leaders and the Secretary General of NATO… 

    …discussing the common threats we face…

    …and the value that closer EU-UK cooperation on defence could bring…

    …whether it’s securing undersea cables or working together on research and development. 

    On safety – I am clear that if we want to protect our respective borders and keep our citizens safe, then we need to work together.

    That is the only way we’re going to break up the vile global trade in human trafficking…

    …that’s the only way to tackle organised crime and terrorism, which plagues us all. 

    And on prosperity – if we want to grow our economies…

    …and boost our living standards…

    …then we need to reduce barriers to UK and EU trade. 

    And I am pleased to say that – that on all three of these issues – we are making progress. 

    On security, the Prime Minister and the President of the European Council have made clear they wanted closer cooperation on security and defence…

    …and the EU High Representative and the Foreign Secretary have already agreed to new six-monthly Foreign Policy dialogues 

    On safety, we have already increased the UK’s presence at Europol…

    …but I want us to go further. 

    We need to find to find ways to better coordinate law enforcement so that we can smash the gangs behind the small boats. 

    To make people safer, we must do all we can to strengthen our collective ability to tackle organised crime and work together on illegal migration.

    Afterall, these are shared challenges. 

    And on prosperity, we have said we will seek to negotiate a Sanitary and Phytosanitary agreement to remove barriers to trade…

    …and find ways to resolve issues like the Mutual Recognition of Professional Qualifications.

    We can go much further on energy and the green transition.

    Our Government’s commitment is to Make Britain a Clean Energy superpower by 2030… 

    …and together, we need to deliver energy security so that we are never again left exposed as we were when Russia – illegally – invaded Ukraine.

    These challenges all span borders and we must work together to seize opportunities that lie ahead.

    All of this work is supported by much greater cooperation between the UK Government and the EU. 

    Right from the very top – with the Prime Minister meeting with President von der Leyen and Council President Costa…

    …agreeing to a leader-level summit that will be held in May, where we hope we can deliver a balanced, yet ambitious outcome to benefit all of our citizens.

    Just before Christmas, our Chancellor attended a meeting of the EU finance ministers…

    …the first time a British Chancellor has been invited to the Eurogroup since Brexit.

    These meetings form only some of the nearly 70 direct engagements…

    …between UK Ministers and our EU counterparts since coming into Government…

    …and I look forward to many more ahead. 

    And I say to you all: I look forward to working with you throughout this year and into the future.

    But ladies and gentlemen – the time for ideologically-driven division is over…

    …the time for ruthless pragmatism is now.

    It is through a new partnership between the UK and the EU that we will deliver for the people of the United Kingdom, and for people across the continent.

    The future of the EU and the UK lies beyond the status quo…

    …reaching forward to deliver benefits for all our people to share.

    So, let us rise to our shared challenges and grasp this opportunity.

    Because together we will create a stronger UK and we will create a stronger Europe.

    Thank you very much.

    Updates to this page

    Published 4 February 2025

    MIL OSI United Kingdom –

    February 5, 2025

  • MIL-OSI Russia: RN-Purneftegaz produced 280 millionth ton of oil

    Translartion. Region: Russians Fedetion –

    Source: Rosneft – Rosneft – An important disclaimer is at the bottom of this article.

    The accumulated production of RN-Purneftegaz, one of the main centers of Rosneft oil and gas production in Yamal, has reached 280 million tons of oil since the start of field operation in 1986. This result was made possible by pioneering oil workers and the entire team of RN-Purneftegaz. The qualifications of the company’s specialists, non-standard engineering solutions, and many years of work have allowed the development of the most complex fields in terms of structure, the creation of a powerful production infrastructure from scratch, and the introduction of innovative technologies.

    The total area of licensed areas located in the Purovsky District is more than 14 thousand square kilometers. The operating stock exceeds 2.7 thousand wells, and the length of pipelines is about 4 thousand kilometers.

    In 2024, the company launched the Yuzhno-Tarkosalinskoye field into commercial operation and also began developing new deposits of the Verkhnepurpeyskoye and Komsomolskoye fields. The development of a new resource base will allow maintaining a stable level of raw material production in the medium term.

    The complex geological structure of a number of fields under development requires the selection and implementation of innovative technologies for drilling and oil production. The company successfully uses a domestic automated drilling control system. The development has reduced the drilling time by an average of 11.7 hours/well. The automated intelligent system operates on the autopilot principle: based on the initial parameters, the automation makes adjustments to the control of the technological process without the operator’s participation. At the same time, a high level of industrial safety is ensured.

    RN-Purneftegaz pays special attention to environmental protection. The company carries out systematic work on reforestation and preservation of aquatic biological resources of the region. Over the past three years, more than 1.2 million pine seedlings have been planted on an area of 340 hectares in Yamal. The company has released more than 2.1 million fry of valuable fish species – peled, carp, nelma and muksun – into the rivers of the Ob-Irtysh basin.

    The city of Gubkinsky, built by oil workers, is the base for RN-Purneftegaz. With the support of Rosneft, most of the socially significant facilities were built here: a city hospital, a children’s library, music and art schools, two swimming pools, an indoor ice rink, and a number of residential complexes. The city-forming enterprise provided financial assistance in the construction of the Neftyanik Palace of Culture and Sports. The construction of an Ice Palace with a total area of 6,500 sq. m. is underway. The new facility will allow Gubkin residents to engage in winter sports all year round.

    For over twenty years, the company has been providing ongoing support to the indigenous peoples of Yamal, helping to preserve their culture and traditional way of life. With the support of RN-Purneftegaz, a program to develop education for children of the indigenous peoples of the North who lead a nomadic lifestyle has been implemented in the region since last year. Grants from oil workers have been used to publish teaching aids in the language of the Forest Nenets – a textbook, a workbook, and an online simulator for elementary grades. The district is also developing the practice of preparing children for school directly in the places where families live – in nomadic kindergartens.

    Department of Information and Advertising of PJSC NK Rosneft February 4, 2025

    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 –

    February 5, 2025

  • MIL-OSI: Descartes Sets Date to Announce Fiscal 2025 Fourth Quarter and Year-End Financial Results

    Source: GlobeNewswire (MIL-OSI)

    WATERLOO, Ontario and ATLANTA, Feb. 04, 2025 (GLOBE NEWSWIRE) — Descartes Systems Group (TSX: DSG) (Nasdaq: DSGX), the global leader in uniting logistics-intensive businesses in commerce, is scheduled to report its fiscal 2024 fourth-quarter and year-end financial results after market close on Wednesday, March 5, 2025.

    Descartes’ executive management team will hold a conference call to discuss the company’s financial results at 5:30 PM ET on Wednesday, March 5. Designated numbers are +1 289 514 5100 or +1 800 717 1738 for North America Toll-Free, using Passcode 45440#.

    The company will simultaneously conduct an audio webcast on the Descartes website at www.descartes.com/descartes/investor-relations. Phone conference dial-in or webcast login is required approximately 10 minutes beforehand.

    Replays of the conference call will be available until March 12, 2025, by dialing +1 289 819 1325 or Toll-Free for North America using +1 888 660 6264 with Playback Passcode: 45440#. An archived replay of the webcast will be available at www.descartes.com/descartes/investor-relations..

    About Descartes Systems Group
    Descartes is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, security, and sustainability of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, track and help improve the safety, performance and compliance of delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com, and connect with us on LinkedIn and X (Twitter).        

    Descartes Investor Contact         
    Laurie McCauley
    (519) 746-2969
    investor@descartes.com

    The MIL Network –

    February 5, 2025

  • MIL-OSI Russia: Dmitry Patrushev held a meeting on accelerating the start of electricity supply to the grid from the Svistyagino plant

    Translartion. Region: Russians Fedetion –

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

    Dmitry Patrushev visited the Svistyagino waste energy recycling plant in the Moscow region

    February 4, 2025

    Dmitry Patrushev visited the Svistyagino waste energy recycling plant in the Moscow region

    February 4, 2025

    Dmitry Patrushev visited the Svistyagino waste energy recycling plant in the Moscow region

    February 4, 2025

    Dmitry Patrushev visited the Svistyagino waste energy recycling plant in the Moscow region

    February 4, 2025

    Dmitry Patrushev visited the Svistyagino waste energy recycling plant in the Moscow region

    February 4, 2025

    Dmitry Patrushev visited the Svistyagino waste energy recycling plant in the Moscow region

    February 4, 2025

    Dmitry Patrushev visited the Svistyagino waste energy recycling plant in the Moscow region

    February 4, 2025

    Dmitry Patrushev visited the Svistyagino waste energy recycling plant in the Moscow region

    February 4, 2025

    Dmitry Patrushev held a meeting on accelerating the start of electricity supply to the grid from the Svistyagino plant

    February 4, 2025

    Previous news Next news

    Dmitry Patrushev visited the Svistyagino waste energy recycling plant in the Moscow region

    Deputy Prime Minister Dmitry Patrushev visited the operating Svistyagino waste energy recycling plant in the Moscow Region. The facility was commissioned in December last year.

    At a meeting following the inspection, the Deputy Prime Minister was informed about the progress of the plant certification. After that, the plant will receive the status of a wholesale electricity and capacity market entity. According to the schedule, Svistyagino will be able to become an electricity supplier in the second quarter of this year.

    Dmitry Patrushev was also told about the operating model of Svistyagino and other similar facilities. The Deputy Prime Minister emphasized that the plant must be financially stable, this will ensure its effective functioning.

    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 –

    February 5, 2025

  • MIL-OSI Russia: More than 100 thousand gas stoves have been checked in Moscow since the beginning of the year

    Translartion. Region: Russians Fedetion –

    Source: Moscow Government – Government of Moscow –

    Since the beginning of this year, specialists from the city services complex have checked more than 100 thousand gas stoves installed in Muscovites’ apartments. This was reported by the Deputy Mayor of Moscow for Housing and Public Utilities and Improvement Petr Biryukov.

    “In January, we checked the functionality and compliance with safety requirements of over 100 thousand gas stoves. If violations are detected, gas workers eliminate the safety threat and give recommendations for further operation and repair. Information about the dates and times of inspections is posted on stands installed in entrances and courtyards,” noted Petr Biryukov.

    Gas safety issues are under special control. According to the head of the city economy complex, specialists conduct scheduled maintenance of all gasified housing stock annually.

    In the capital, about 1.8 million families use gas stoves. In order for the equipment to operate safely, it is very important to check it in a timely manner. Responsibility for maintaining and replacing gas equipment lies with the owner or tenant of the residential premises.

    The service life of a gas stove is on average 10-12 years. After that, gas taps wear out, burner diffusers become deformed, and the thermal insulation of the oven is damaged. It is impossible to maintain the safe operation of such devices; replacement is necessary.

    The stove must be equipped with a gas control system that stops the gas supply if the flame in the burner goes out.

    You can find out more about dates and times of gas equipment inspections on the official website of Mosgaz and with the help of a special telegram bot companies. In addition, residents of the capital can subscribe to notifications about an upcoming inspection and then evaluate the specialist’s work.

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

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

    https: //vv.mos.ru/nevs/ite/149693073/

    MIL OSI Russia News –

    February 5, 2025
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