Category: Economy

  • MIL-OSI: Nasdaq Announces Results from 2025 Annual Meeting of Shareholders

    Source: GlobeNewswire (MIL-OSI)

    All 12 Nominated Directors Elected

    Nasdaq Board Re-elects Adena T. Friedman as Chair of the Board

    NEW YORK, June 16, 2025 (GLOBE NEWSWIRE) — Nasdaq, Inc. (Nasdaq: NDAQ) shareholders elected all nominated directors at the company’s Annual Meeting of Shareholders on Wednesday, June 11, 2025. All directors will serve one-year terms. The elected board members are:

    • Melissa M. Arnoldi, EVP and General Manager for Business Solutions, AT&T Inc.
    • Charlene T. Begley, Retired SVP and CIO, General Electric Company
    • Adena T. Friedman, Chair and CEO, Nasdaq
    • Essa Kazim, Governor, Dubai International Financial Centre
    • Thomas A. Kloet, Retired CEO and Executive Director, TMX Group Limited
    • Kathryn A. Koch, President and CEO, The TCW Group, Inc.
    • Holden Spaht, Managing Partner, Thoma Bravo
    • Michael R. Splinter, Retired Chairman and CEO, Applied Materials, Inc.
    • Johan Torgeby, President and CEO, Skandinaviska Enskilda Banken (SEB)
    • Toni Townes-Whitley, CEO, Science Applications International Corp. (SAIC)
    • Jeffery W. Yabuki, Chairman and CEO, InvestCloud; Chairman and Founding Partner, Motive Partners
    • Alfred W. Zollar, Former Executive Partner, Siris Capital Group, LLC

    The Nasdaq Board of Directors also re-elected Adena T. Friedman as Chair of the Board for a one-year term.

    In addition, Nasdaq shareholders approved the following proposals:

    • The company’s executive compensation on an advisory basis;
    • Ratification of the appointment of Ernst & Young LLP as Nasdaq’s independent registered public accounting firm for the fiscal year ending December 31, 2025; and
    • An amendment to Nasdaq’s Amended and Restated Certificate of Incorporation to allow for the limited exculpation of officers of Nasdaq.

    For additional information on Nasdaq’s corporate governance, please visit: https://ir.nasdaq.com/corporate-governance/nasdaq-inc/board-of-directors.

    About Nasdaq:

    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    Nasdaq Media Contact:

    Nick Jannuzzi
    +1.973.760.1741
    Nicholas.Jannuzzi@Nasdaq.com

    Investor Relations Contact:

    Ato Garrett
    +1.212.401.8737
    Ato.Garrett@Nasdaq.com

    -NDAQF-

    The MIL Network

  • MIL-OSI: Nasdaq Announces Results from 2025 Annual Meeting of Shareholders

    Source: GlobeNewswire (MIL-OSI)

    All 12 Nominated Directors Elected

    Nasdaq Board Re-elects Adena T. Friedman as Chair of the Board

    NEW YORK, June 16, 2025 (GLOBE NEWSWIRE) — Nasdaq, Inc. (Nasdaq: NDAQ) shareholders elected all nominated directors at the company’s Annual Meeting of Shareholders on Wednesday, June 11, 2025. All directors will serve one-year terms. The elected board members are:

    • Melissa M. Arnoldi, EVP and General Manager for Business Solutions, AT&T Inc.
    • Charlene T. Begley, Retired SVP and CIO, General Electric Company
    • Adena T. Friedman, Chair and CEO, Nasdaq
    • Essa Kazim, Governor, Dubai International Financial Centre
    • Thomas A. Kloet, Retired CEO and Executive Director, TMX Group Limited
    • Kathryn A. Koch, President and CEO, The TCW Group, Inc.
    • Holden Spaht, Managing Partner, Thoma Bravo
    • Michael R. Splinter, Retired Chairman and CEO, Applied Materials, Inc.
    • Johan Torgeby, President and CEO, Skandinaviska Enskilda Banken (SEB)
    • Toni Townes-Whitley, CEO, Science Applications International Corp. (SAIC)
    • Jeffery W. Yabuki, Chairman and CEO, InvestCloud; Chairman and Founding Partner, Motive Partners
    • Alfred W. Zollar, Former Executive Partner, Siris Capital Group, LLC

    The Nasdaq Board of Directors also re-elected Adena T. Friedman as Chair of the Board for a one-year term.

    In addition, Nasdaq shareholders approved the following proposals:

    • The company’s executive compensation on an advisory basis;
    • Ratification of the appointment of Ernst & Young LLP as Nasdaq’s independent registered public accounting firm for the fiscal year ending December 31, 2025; and
    • An amendment to Nasdaq’s Amended and Restated Certificate of Incorporation to allow for the limited exculpation of officers of Nasdaq.

    For additional information on Nasdaq’s corporate governance, please visit: https://ir.nasdaq.com/corporate-governance/nasdaq-inc/board-of-directors.

    About Nasdaq:

    Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.

    Nasdaq Media Contact:

    Nick Jannuzzi
    +1.973.760.1741
    Nicholas.Jannuzzi@Nasdaq.com

    Investor Relations Contact:

    Ato Garrett
    +1.212.401.8737
    Ato.Garrett@Nasdaq.com

    -NDAQF-

    The MIL Network

  • MIL-OSI: Reliance Global Submits Request for Withdrawal of Form S-1 Registration Statement

    Source: GlobeNewswire (MIL-OSI)

    LAKEWOOD, N.J., June 16, 2025 (GLOBE NEWSWIRE) — Reliance Global Group, Inc. (Nasdaq: RELI) (“we,” “us,” “our” or the “Company”), today announced that it has filed a request for withdrawal with the Securities and Exchange Commission (the “SEC”) of the Company’s Registration Statement on Form S-1 (No. 333-284218), originally filed January 10, 2025 (as amended, the “Registration Statement”), as the Company no longer intends to pursue a public offering under the Registration Statement at this time. The Registration Statement has not been declared effective by the SEC, and no securities have been sold in connection with the offering described in the Registration Statement.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Company’s common stock or any securities, and there shall not be any offer, solicitation or sale of securities mentioned in the press release in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of such any state or jurisdiction.

    About Reliance Global Group, Inc.

    Reliance Global Group, Inc. (NASDAQ: RELI) is an InsurTech pioneer, leveraging artificial intelligence (AI), and cloud-based technologies, to transform and improve efficiencies in the insurance agency/brokerage industry. The Company’s business-to-business InsurTech platform, RELI Exchange, provides independent insurance agencies an entire suite of business development tools, enabling them to effectively compete with large-scale national insurance agencies, whilst reducing back-office cost and burden. The Company’s business-to-consumer platform, 5minuteinsure.com, utilizes AI and data mining, to provide competitive online insurance quotes within minutes to everyday consumers seeking to purchase auto, home, and life insurance.  In addition, the Company operates its own portfolio of select retail “brick and mortar” insurance agencies which are leaders and pioneers in their respective regions throughout the United States, offering a wide variety of insurance products. Further information about the Company can be found at https://www.relianceglobalgroup.com.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by terminology such as “may,” “should,” “could,” “would,” “will,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “continue,” “potential,” and similar expressions. Forward-looking statements in this press release include, but are not limited to, statements regarding:

    • Our future financial condition and operating results;
    • Our plans, objectives, expectations and intentions with respect to future operations, products and services;
    • Our ability to execute the planned withdrawal of the Registration Statement on Form S-1;
    • The development and growth of our RELI Exchange and 5minuteinsure.com platforms;
    • The expansion and performance of our portfolio of retail “brick-and-mortar” insurance agencies;
    • Our ability to maintain compliance with Nasdaq’s continued listing requirements; and
    • Other statements identified by the words noted above;

    These forward-looking statements are based on a number of assumptions, including the assumptions that: we will complete the withdrawal process without unexpected delay; our AI-driven underwriting and cloud-based systems will perform as anticipated; demand for our InsurTech solutions will continue to grow; we will remain in compliance with applicable insurance regulations and Nasdaq listing rules; and there will be no material adverse changes in our relationships with agency partners or service providers. There can be no assurance that these assumptions will prove correct. There are numerous risks and uncertainties that may cause actual results or performance to differ materially from those expressed in these forward-looking statements. These include, among others: delays or failure to complete the withdrawal; inability to execute our growth plans for RELI Exchange or 5minuteinsure.com; competitive and regulatory challenges faced by our retail agency operations; fluctuations in our stock price or failure to maintain Nasdaq compliance; and the other factors described in the “Risk Factors” section of our Registration Statement and in other reports we file with the Securities and Exchange Commission. The foregoing list of factors is not exhaustive. You should carefully review our Annual Report on Form 10-K for the year ended December 31, 2024, as amended, and the other reports we have filed or will file with the SEC for a more complete discussion of risks and uncertainties. Except as required by law, Reliance Global Group, Inc. disclaims any obligation to update or revise any forward-looking statements, which speak only as of the date of this press release.

    Contact:

    Crescendo Communications, LLC
    Tel: +1 (212) 671-1020
    Email: RELI@crescendo-ir.com

    The MIL Network

  • MIL-Evening Report: When new dads struggle, their kids’ health can suffer. Tackling mental distress early can help

    Source: The Conversation (Au and NZ) – By Delyse Hutchinson, Associate Professor, Clinical Psychologist, and NHMRC Leadership Fellow, SEED Centre for Lifespan Research, School of Psychology, Deakin University

    D-BASE/Getty

    In Australia, an estimated one in ten men experience mental health issues such as anxiety and depression before and after their child is born (the perinatal period).

    Alongside emotional ups and downs and exhaustion, new dads may also be facing greater practical demands, such as caring for the baby, supporting their partner, and providing financially.

    It’s not surprising, then, that becoming a dad may be linked to increased psychological distress. But it’s concerning because many men don’t access help. There’s also growing evidence a father’s mental state may affect his developing child in the short and long term.

    Our new review brings together the international evidence about the relationship between fathers’ mental health and children’s development for the first time.

    We found consistent associations between dads’ psychological distress before and after birth and poorer outcomes in children’s social, emotional, cognitive, language and physical development, from birth until the early teens.

    The good news? There are effective ways to intervene early.

    Barriers to getting help

    There are complex reasons why new fathers might not access help for mental distress.

    Notably, a 2024 review of Australian and international research found fathers are not routinely asked in health-care settings about their wellbeing at any point before the birth of a child, or after – when support is often most needed.

    Men may also feel they need to be strong and push past tough emotions to “get on” with looking after the family.

    They may be reluctant to acknowledge their own difficulties, and instead avoid the issue, through strategies such as working excessively, or using alcohol or other drugs.

    Working hours can also make accessing services difficult.

    As a result, men may have trouble recognising mental distress and it may go undetected by the people around them and in the wider health-care system.

    We don’t know the true impact

    Research on early risk factors for poorer child development is around 17 times more likely to focus on mothers’ health and lifestyle, compared to fathers.

    This focus is understandable, given up to one in five women experience perinatal anxiety or depression in the transition to motherhood.

    Strong evidence links mothers’ mental distress to poorer child outcomes. For example, mothers experiencing perinatal anxiety or depression may withdraw and find it difficult to interact with their child. This may be linked to delays in children’s developing social and emotional skills.

    Yet similar research on fathers has been lacking.

    This imbalance affects health policy and clinical practice, leaving many fathers feeling excluded from family health care. The impact on their children has also been poorly understood.

    What we looked at

    Our new research aimed to understand how men’s mental health before and after birth is related to their child’s development, from birth through adolescence.

    We looked at the findings from 84 longitudinal studies which track people over long periods of time, including from Australia, Europe, Asia and North America.

    The review included any study that measured an association between perinatal depression, anxiety or stress in fathers (biological or adoptive) and child development. These included social and emotional skills, thinking and problem-solving, language, physical development and motor skills.

    Our study had three main findings

    First, mental distress in fathers during pregnancy and after birth was consistently linked to poorer development in their children.

    Specifically, this included lower ratings on social, emotional, cognitive, and language skills, such as the capacity to interact with others, understand feelings, process information and communicate. It also affected physical health outcomes, such as body weight, sleep and eating patterns.

    Second, associations were evident from early development (infancy) through to the early teens (13 years). This suggests that, without support, a father’s perinatal mental distress may be related to child development well beyond infancy.

    Third, fathers’ mental distress after birth was more strongly related to how children developed than their mental distress during pregnancy.

    This is not surprising, because it’s when fathers begin to interact with infants and may more directly influence their development.

    So, what should change?

    Our findings underscore that getting in early to support dads – both before and soon after the arrival of a new child – is crucial.

    Routine screening for signs of mental distress is effective in identifying mothers who might benefit from help. This could be extended to all parents, through family planning, antenatal and postpartum clinics, and GP check-ups.

    Research shows 80% of men see a GP or allied health practitioner in the year before having a baby. Asking about other aspects of wellbeing – such as sleep quality – can be an effective and non-stigmatising way to ease into conversations about mental health.

    This can help connect men with support services earlier, to improve their health and their children’s.

    What should men look out for?

    Studies suggest men may often express their distress through relationship strain, rather than sadness. They may also report self-harm, suicidal ideation and feeling isolated.

    Common signs a new dad might be struggling with mental health include:

    • fatigue
    • sleep problems
    • difficulty concentrating
    • racing heart
    • sweating
    • muscle tension
    • changes in appetite
    • feeling worried or out of control
    • irritability
    • anger
    • increased use of alcohol or other drugs.

    Is there support?

    Options for men who want more support include counselling, peer group support and online apps that use mindfulness and cognitive behaviour therapy to help manage moods.

    For fathers needing more immediate support, crisis support services offer 24/7 live counselling via chat, telephone or video:

    If this article has raised issues for you, or if you’re concerned about someone you know, call Lifeline on 13 11 14. In an emergency in Australia, call triple 0.

    Delyse Hutchinson receives funding from the National Health and Medical Research Council (NHMRC).

    Jacqui Macdonald receives funding from the National Health and Medical Research Council’s Medical Research Future Fund and the Australian Research Council. She convenes the Australian Fatherhood Research Consortium and she is on the Movember Global Men’s Health Advisory Committee.

    Samantha Teague receives funding from the National Health and Medical Research Council (NHMRC).

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

    ref. When new dads struggle, their kids’ health can suffer. Tackling mental distress early can help – https://theconversation.com/when-new-dads-struggle-their-kids-health-can-suffer-tackling-mental-distress-early-can-help-253024

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: Zeo Energy Corp. Reports First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    NEW PORT RICHEY, Fla., June 16, 2025 (GLOBE NEWSWIRE) — Zeo Energy Corp. (Nasdaq: ZEO) (“Zeo”, “Zeo Energy”, or the “Company”), a Florida-based provider of residential solar and energy efficiency solutions, today reported financial results for the first quarter ended March 31, 2025.

    Recent Operational Highlights

    • Entered into a definitive agreement to acquire Heliogen, a provider of on-demand clean energy technology solutions, allowing the company to establish a division focused on long-duration energy generation and storage for commercial and industrial-scale facilities, including artificial intelligence (AI) and cloud computing data centers.
    • Recruited and retained adequate staff ahead of the peak summer sales season.

    Management Commentary
    “In the first quarter of 2025, we continued to navigate the challenging solar market and successfully generated $8.8 million of revenue,” said Zeo Energy Corp. CEO Tim Bridgewater. “As announced last month, we were able to take advantage of the softer sector conditions by entering into a definitive agreement to acquire Heliogen. We believe that this proposed acquisition positions us to expand beyond traditional residential solar and into adjacent clean energy verticals with long-term upside. This move will also enhance our balance sheet and diversify our revenue base going forward.”

    “As anticipated, in Q1 we experienced a slowdown due to the seasonality of our intensive summer sales model. This slowdown was exacerbated by the current high-interest rate environment. We’ve maintained our strategic focus during this period, streamlining operations and strengthening our sales team ahead of the critical summer season that is now underway. Looking ahead, we remain confident in our full-year outlook. We expect meaningful improvement in the latter half of the year as market activity increases.”

    First Quarter 2025 Financial Results

    Results compare the 2025 first quarter ended March 31, 2025 to the 2024 first quarter ended March 31, 2024.

    • Total revenue was $8.8 million in Q1 2025, a 56.4% decrease from $20.1 million in the comparable 2024 period. The decrease was primarily due to higher interest rates creating a challenging environment for residential solar direct sales.
    • Gross profit decreased to $3.8 million (43.0% of total revenue) in Q1 2025 from $6.0 million (29.9% of total revenue) in the comparable 2024 period. The decrease was driven in part by the decrease in sales compared to the prior period. The improvement in gross profit as a percentage of revenue was the result of improved operational efficiencies in labor and a reduction in materials costs.
    • Net loss for Q1 2025 was $13.3 million compared to $4.1 million in the comparable 2024 period. The decrease is primarily due to a decrease in overall sales for the period.
    • Adjusted EBITDA, a non-GAAP measurement of operating performance reconciled below, decreased to $(6.4) million (72.3% of total revenue) in Q1 2024 from approximately $(0.5) million (2.3% of total revenue) in the comparable 2024 period. The change was primarily related to the change in net loss.

    For more information, please visit the Zeo Energy Corp. investor relations website at investors.zeoenergy.com.

    About Zeo Energy Corp.

    Zeo Energy Corp. is a Florida-based provider of residential solar, distributed energy, and energy efficiency solutions. Zeo focuses on high-growth markets with limited competitive saturation. With its differentiated sales approach and vertically integrated offerings, Zeo, through its Sunergy Solar business unit, serves customers who desire to reduce high energy bills and contribute to a more sustainable future. For more information on Zeo Energy Corp., please visit www.zeoenergy.com.

    Non-GAAP Financial Measures

    Adjusted EBITDA
    Zeo Energy defines Adjusted EBITDA, a non-GAAP financial measure, as net income (loss) before interest and other expenses, net, income tax expense, and depreciation and amortization, as adjusted to exclude stock-based compensation. Zeo utilizes Adjusted EBITDA as an internal performance measure in the management of the Company’s operations because the Company believes the exclusion of these non-cash and non-recurring charges allows for a more relevant comparison of Zeo’s results of operations to other companies in the industry. Adjusted EBITDA should not be viewed as a substitute for net loss calculated in accordance with GAAP, and other companies may define Adjusted EBITDA differently.

    The following table provides a reconciliation of net income (loss) to Adjusted EBITDA for the periods presented:

           
      Three months Ended March 31,  
        2025       2024    
    Net income (loss)   $ (13,319,363 )     $ (4,107,102 )  
    Adjustment:                
    Other income, net     (82,363 )       0    
    Change in fair value of warrant liabilities     (663,449 )       138,000.00    
    Interest expense     30,277         35,222    
    Income tax benefit     523,500         (114,668.00 )  
    Stock compensation     2,257,139         3,118,584.00    
    Depreciation and amortization     4,900,729         459,529    
                     
    Adjusted EBITDA     (6,353,530 )       (470,435 )  
                     
    Net income (loss) margin     (151.6 ) %     (20.4 ) %
                     
    Adjusted EBITDA margin     (72.3 ) %     (2.3 ) %
                     

    Adjusted EBITDA Margin

    Zeo Energy defines Adjusted EBITDA margin, a non-GAAP financial measure, expressed as a percentage, as the ratio of Adjusted EBITDA to revenue, net. Adjusted EBITDA margin measures net income (loss) before interest and other expenses, net, income tax expense, depreciation and amortization, as adjusted to exclude stock-based compensation and is expressed as a percentage of revenue. In the table above, Adjusted EBITDA is reconciled to the most comparable GAAP measure, net income (loss). Zeo utilizes Adjusted EBITDA margin as an internal performance measure in the management of the Company’s operations because the Company believes the exclusion of these non-cash and non-recurring charges allows for a more relevant comparison of the Company’s results of operations to other companies in Zeo’s industry.

    The following table sets forth Zeo’s calculations of Adjusted EBITDA margin for the periods presented:

           
      Three months Ended March 31,  
        2025       2024    
    Total Revenue   $ 8,783,695       $ 20,142,156    
                     
    Adjusted EBITDA     (6,353,530 )       (470,435 )  
                     
    Adjusted EBITDA margin     (72.3 ) %     (2.3 ) %
                     

    Forward-Looking Statements

    This news release contains certain forward-looking statements within the meaning of section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Exchange Act of 1934, as amended, that are based on beliefs and assumptions and on information currently available to the Company. Such statements may include, but are not limited to, statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will,” and similar references to future periods may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about the future financial performance of the Company; the ability to effectively consolidate the assets of Lumio and produce the expected results; changes in the Company’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, the ability to raise additional funds, and plans and objectives of management. These forward-looking statements are based on information available as of the date of this news release, and current expectations, forecasts, and assumptions, and involve a number of judgments, risks, and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing the Company’s views as of any subsequent date, and the Company does not undertake any obligation to update such forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws. You should not place undue reliance on these forward-looking statements. As a result of a number of known and unknown risks and uncertainties, the Company’s actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: (i) the outcome of any legal proceedings that may be instituted against the Company or others; (ii) the Company’s success in retaining or recruiting, or changes required in, its officers, key employees, or directors; (iii) the Company’s ability to maintain the listing of its common stock and warrants on Nasdaq; (iv) limited liquidity and trading of the Company’s securities; (v) geopolitical risk and changes in applicable laws or regulations, including tariffs or trade restrictions; (vi) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (vii) operational risk; (viii) litigation and regulatory enforcement risks, including the diversion of management time and attention and the additional costs and demands on the Company’s resources; (ix) the Company’s ability to effectively consolidate the assets of Lumio and produce the expected results; and (x) other risks and uncertainties, including those included under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) for the year ended December 31, 2024 and in its subsequent periodic reports and other filings with the SEC.

    In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by the Company, its respective directors, officers or employees or any other person that the Company will achieve its objectives and plans in any specified time frame, or at all. The forward-looking statements in this news release represent the views of the Company as of the date of this news release. Subsequent events and developments may cause that view to change. However, while the Company may elect to update these forward-looking statements at some point in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of the Company as of any date subsequent to the date of this news release.

    Zeo Energy Corp. Contacts

    For Investors:
    Tom Colton and Greg Bradbury
    Gateway Group
    ZEO@gateway-grp.com

    For Media:
    Zach Kadletz
    Gateway Group
    ZEO@gateway-grp.com

    -Financial Tables to Follow-

    ZEO ENERGY CORP.
    CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited)
     
        As of March 31,   As of December 31,  
          2025       2024    
    Assets              
    Current assets              
    Cash and cash equivalents   $ 2,894,103     $ 5,634,115    
    Accounts receivable, including $286,103 and $191,662 from related parties, net of allowance for credit losses of $4,703,905 and $1,165,336, as of March 31, 2025 and December 31, 2024, respectively     4,999,508       10,186,543    
    Inventories     847,395       872,470    
    Contract assets     577,398       64,202    
    Prepaid expenses and other current assets     936,673       2,131,345    
    Total current assets     10,255,077       18,888,675    
    Other assets     113,591       314,426    
    Property, equipment and other fixed assets, net     2,629,283       2,475,963    
    Right of use operating lease assets     1,087,496       1,268,139    
    Right of use financing lease assets     412,893       447,012    
    Intangibles, net     2,938,804       7,571,156    
    Note receivable – related party     3,000,000       3,000,000    
    Goodwill     27,010,745       27,010,745    
    Total assets   $ 47,447,889     $ 60,976,116    
                   
    Liabilities, redeemable noncontrolling interest and stockholders’ (deficit) equity        
    Current liabilities              
    Accounts payable   $ 3,569,632     $ 2,780,885    
    Accrued expenses and other current liabilities, including $2,320,129 and $3,359,101 with related parties at March 31, 2025 and December 31, 2024, respectively     6,581,799       8,540,188    
    Current portion of long-term debt     301,091       291,036    
    Current portion of obligations under operating leases     555,672       583,429    
    Current portion of obligations under financing leases     133,408       130,464    
    Convertible promissory note     2,455,000       2,440,000    
    Contract liabilities, including $0 and $2,000 with related parties as of March 31, 2025 and December 31, 2024, respectively     119,417       203,607    
    Total current liabilities     13,716,019       14,969,609    
    Obligations under operating leases, non-current     662,291       799,385    
    Obligations under financing leases, non-current     314,167       348,807    
    Warrant liabilities     785,551       1,449,000    
    Long-term debt     414,268       496,623    
    Total liabilities     15,892,296       18,063,424    
                   
    Commitments and contingencies (Note 14)              
                   
    Redeemable noncontrolling interests              
    Convertible preferred units, 1,500,000 units issued and outstanding as of March 31, 2025 and December 31, 2024, respectively     16,536,108       16,130,871    
    Class B Units     38,097,300       115,693,900    
                   
    Stockholders’ equity              
    Class V common stock, $0.0001 par value, 100,000,000 authorized shares; 26,730,000 and 35,230,000 shares issued and outstanding as of March 31, 2025, and December 31, 2024, respectively     2,673       3,523    
    Class A common stock, $0.0001 par value, 300,000,000 authorized shares; 21,796,464 and 13,252,964 shares issued and outstanding as of March 31, 2025, and December 31, 2023, respectively     2,180       1,326    
    Additional paid in capital     16,486,224       14,523,963    
    Accumulated deficit     (39,568,892 )     (103,440,891 )  
    Total stockholders’ deficit     (23,077,815 )     (88,912,079 )  
    Total liabilities, redeemable noncontrolling interests and stockholders’ (deficit) equity   $ 47,447,889     $ 60,976,116    
                   
    ZEO ENERGY CORP.
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
        Three months ended March 31,
        2025     2024  
    Revenue, net   $ 6,216,391     $ 11,329,387  
    Related party revenue, net     2,567,304       8,812,769  
    Total revenue     8,783,695       20,142,156  
    Operating costs and expenses:            
    Cost of goods sold (exclusive of items shown below)     4,789,679       13,957,966  
    Depreciation and amortization     4,900,729       459,529  
    Sales and marketing     2,137,092       6,553,787  
    General and administrative     10,467,593       3,219,422  
    Total operating expenses     22,295,093       24,190,704  
    (Loss) income from operations     (13,511,398 )     (4,048,548 )
    Other (expenses) income, net:            
    Other income, net     82,363        
    Change in fair value of warrant liabilities     663,449       (138,000 )
    Interest expense     (30,277 )     (35,222 )
    Total other expense, net     715,535       (173,222 )
    Net (loss) income before taxes     (12,795,863 )     (4,221,770 )
    Income tax (expense) benefit     (523,500 )     114,668  
    Net (loss) income     (13,319,363 )     (4,107,102 )
    Net (loss) attributable to Sunergy Renewables LLC prior to the Business Combination           (523,681 )
    Net (loss) income subsequent to the Business Combination     (13,319,363 )     (3,583,421 )
    Net (loss) income attributable to redeemable non-controlling interests     (6,958,098 )     (2,051,930 )
    Net (loss) income attributable to Class A common stock   $ (6,361,265 )   $ (1,531,491 )
                 
    Basic and diluted net (loss) income per common unit   $ (0.48 )   $ (1.54 )
    Weighted average units outstanding, basic and diluted     13,252,964       994,345  
                 
    ZEO ENERGY CORP.
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
      Three Months Ended March 31,
      2025     2024  
    Cash Flows from Operating Activities          
    Net (loss) income $ (13,319,363 )   $ (4,107,102 )
    Adjustment to reconcile net (loss) income to cash (used in) provided by operating activities          
    Depreciation and amortization   4,900,729       459,529  
    Interest income          
    Change in fair value of warrant liabilities   (663,449 )     138,000  
    Provision for credit losses   3,538,569       150,000  
    Noncash operating lease expense   180,643       152,717  
    Stock based compensation expense   2,257,139       3,118,584  
    Changes in operating assets and liabilities:          
    Accounts receivable   1,742,907       (2,297,517 )
    Accounts receivable due from related parties   (94,441 )     (2,692,841 )
    Inventories   25,075       (28,968 )
    Prepaid installation costs   (513,196 )     4,448,953  
    Prepaids and other current assets   1,138,288       (1,420,528 )
    Other assets   (37,656 )     (109,443 )
    Accounts payable   788,747       (400,861 )
    Accrued expenses and other current liabilities   (919,417 )     (691,316 )
    Accrued expenses and other current liabilities due to related parties   (1,038,972 )     (2,148,960 )
    Contract liabilities   (82,190 )     (3,508,323 )
    Contract liabilities due to related parties   (2,000 )     (1,054,263 )
    Operating lease payments   (164,851 )     (159,650 )
    Net cash (used in) provided by operating activities   (2,263,438 )     (10,151,989 )
               
    Cash flows from Investing Activities          
    Purchases of property, equipment and other assets   (372,578 )     (226,076 )
    Net cash used in investing activities   (372,578 )     (226,076 )
               
    Cash flows from Financing Activities          
    Principal payment of finance lease liabilities   (31,696 )     (28,537 )
    Proceeds from the issuance of convertible preferred stock, net of transaction costs         10,277,275  
    Repayments of debt   (72,300 )     (71,855 )
    Distributions to members         (90,000 )
    Net cash provided by (used in) financing activities   (103,996 )     10,086,883  
               
    Net (decrease) increase in cash and cash equivalents   (2,740,012 )     (291,182 )
    Cash and cash equivalents, beginning of period   5,634,115       8,022,306  
    Cash and cash equivalents, end of the period $ 2,894,103     $ 7,731,124  
               
    Supplemental Cash Flow Information          
    Cash paid for interest $ 25,785     $ 34,060  
    Cash paid for income taxes $     $  
    Noncash finance lease expense $ 34,119     $ 34,118  
               
    Non-cash transactions          
    Deferred equity issuance costs $     $ 3,269,039  
    Issuance of Class A common stock to vendors $     $ 891,035  
    Issuance of Class A common stock to backstop investors $     $ 1,569,463  
    Preferred dividends $ 405,237     $ 8,224,091  

    The MIL Network

  • MIL-OSI: Zeo Energy Corp. Reports First Quarter 2025 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    NEW PORT RICHEY, Fla., June 16, 2025 (GLOBE NEWSWIRE) — Zeo Energy Corp. (Nasdaq: ZEO) (“Zeo”, “Zeo Energy”, or the “Company”), a Florida-based provider of residential solar and energy efficiency solutions, today reported financial results for the first quarter ended March 31, 2025.

    Recent Operational Highlights

    • Entered into a definitive agreement to acquire Heliogen, a provider of on-demand clean energy technology solutions, allowing the company to establish a division focused on long-duration energy generation and storage for commercial and industrial-scale facilities, including artificial intelligence (AI) and cloud computing data centers.
    • Recruited and retained adequate staff ahead of the peak summer sales season.

    Management Commentary
    “In the first quarter of 2025, we continued to navigate the challenging solar market and successfully generated $8.8 million of revenue,” said Zeo Energy Corp. CEO Tim Bridgewater. “As announced last month, we were able to take advantage of the softer sector conditions by entering into a definitive agreement to acquire Heliogen. We believe that this proposed acquisition positions us to expand beyond traditional residential solar and into adjacent clean energy verticals with long-term upside. This move will also enhance our balance sheet and diversify our revenue base going forward.”

    “As anticipated, in Q1 we experienced a slowdown due to the seasonality of our intensive summer sales model. This slowdown was exacerbated by the current high-interest rate environment. We’ve maintained our strategic focus during this period, streamlining operations and strengthening our sales team ahead of the critical summer season that is now underway. Looking ahead, we remain confident in our full-year outlook. We expect meaningful improvement in the latter half of the year as market activity increases.”

    First Quarter 2025 Financial Results

    Results compare the 2025 first quarter ended March 31, 2025 to the 2024 first quarter ended March 31, 2024.

    • Total revenue was $8.8 million in Q1 2025, a 56.4% decrease from $20.1 million in the comparable 2024 period. The decrease was primarily due to higher interest rates creating a challenging environment for residential solar direct sales.
    • Gross profit decreased to $3.8 million (43.0% of total revenue) in Q1 2025 from $6.0 million (29.9% of total revenue) in the comparable 2024 period. The decrease was driven in part by the decrease in sales compared to the prior period. The improvement in gross profit as a percentage of revenue was the result of improved operational efficiencies in labor and a reduction in materials costs.
    • Net loss for Q1 2025 was $13.3 million compared to $4.1 million in the comparable 2024 period. The decrease is primarily due to a decrease in overall sales for the period.
    • Adjusted EBITDA, a non-GAAP measurement of operating performance reconciled below, decreased to $(6.4) million (72.3% of total revenue) in Q1 2024 from approximately $(0.5) million (2.3% of total revenue) in the comparable 2024 period. The change was primarily related to the change in net loss.

    For more information, please visit the Zeo Energy Corp. investor relations website at investors.zeoenergy.com.

    About Zeo Energy Corp.

    Zeo Energy Corp. is a Florida-based provider of residential solar, distributed energy, and energy efficiency solutions. Zeo focuses on high-growth markets with limited competitive saturation. With its differentiated sales approach and vertically integrated offerings, Zeo, through its Sunergy Solar business unit, serves customers who desire to reduce high energy bills and contribute to a more sustainable future. For more information on Zeo Energy Corp., please visit www.zeoenergy.com.

    Non-GAAP Financial Measures

    Adjusted EBITDA
    Zeo Energy defines Adjusted EBITDA, a non-GAAP financial measure, as net income (loss) before interest and other expenses, net, income tax expense, and depreciation and amortization, as adjusted to exclude stock-based compensation. Zeo utilizes Adjusted EBITDA as an internal performance measure in the management of the Company’s operations because the Company believes the exclusion of these non-cash and non-recurring charges allows for a more relevant comparison of Zeo’s results of operations to other companies in the industry. Adjusted EBITDA should not be viewed as a substitute for net loss calculated in accordance with GAAP, and other companies may define Adjusted EBITDA differently.

    The following table provides a reconciliation of net income (loss) to Adjusted EBITDA for the periods presented:

           
      Three months Ended March 31,  
        2025       2024    
    Net income (loss)   $ (13,319,363 )     $ (4,107,102 )  
    Adjustment:                
    Other income, net     (82,363 )       0    
    Change in fair value of warrant liabilities     (663,449 )       138,000.00    
    Interest expense     30,277         35,222    
    Income tax benefit     523,500         (114,668.00 )  
    Stock compensation     2,257,139         3,118,584.00    
    Depreciation and amortization     4,900,729         459,529    
                     
    Adjusted EBITDA     (6,353,530 )       (470,435 )  
                     
    Net income (loss) margin     (151.6 ) %     (20.4 ) %
                     
    Adjusted EBITDA margin     (72.3 ) %     (2.3 ) %
                     

    Adjusted EBITDA Margin

    Zeo Energy defines Adjusted EBITDA margin, a non-GAAP financial measure, expressed as a percentage, as the ratio of Adjusted EBITDA to revenue, net. Adjusted EBITDA margin measures net income (loss) before interest and other expenses, net, income tax expense, depreciation and amortization, as adjusted to exclude stock-based compensation and is expressed as a percentage of revenue. In the table above, Adjusted EBITDA is reconciled to the most comparable GAAP measure, net income (loss). Zeo utilizes Adjusted EBITDA margin as an internal performance measure in the management of the Company’s operations because the Company believes the exclusion of these non-cash and non-recurring charges allows for a more relevant comparison of the Company’s results of operations to other companies in Zeo’s industry.

    The following table sets forth Zeo’s calculations of Adjusted EBITDA margin for the periods presented:

           
      Three months Ended March 31,  
        2025       2024    
    Total Revenue   $ 8,783,695       $ 20,142,156    
                     
    Adjusted EBITDA     (6,353,530 )       (470,435 )  
                     
    Adjusted EBITDA margin     (72.3 ) %     (2.3 ) %
                     

    Forward-Looking Statements

    This news release contains certain forward-looking statements within the meaning of section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Exchange Act of 1934, as amended, that are based on beliefs and assumptions and on information currently available to the Company. Such statements may include, but are not limited to, statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will,” and similar references to future periods may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about the future financial performance of the Company; the ability to effectively consolidate the assets of Lumio and produce the expected results; changes in the Company’s strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, the ability to raise additional funds, and plans and objectives of management. These forward-looking statements are based on information available as of the date of this news release, and current expectations, forecasts, and assumptions, and involve a number of judgments, risks, and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing the Company’s views as of any subsequent date, and the Company does not undertake any obligation to update such forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws. You should not place undue reliance on these forward-looking statements. As a result of a number of known and unknown risks and uncertainties, the Company’s actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include: (i) the outcome of any legal proceedings that may be instituted against the Company or others; (ii) the Company’s success in retaining or recruiting, or changes required in, its officers, key employees, or directors; (iii) the Company’s ability to maintain the listing of its common stock and warrants on Nasdaq; (iv) limited liquidity and trading of the Company’s securities; (v) geopolitical risk and changes in applicable laws or regulations, including tariffs or trade restrictions; (vi) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors; (vii) operational risk; (viii) litigation and regulatory enforcement risks, including the diversion of management time and attention and the additional costs and demands on the Company’s resources; (ix) the Company’s ability to effectively consolidate the assets of Lumio and produce the expected results; and (x) other risks and uncertainties, including those included under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) for the year ended December 31, 2024 and in its subsequent periodic reports and other filings with the SEC.

    In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by the Company, its respective directors, officers or employees or any other person that the Company will achieve its objectives and plans in any specified time frame, or at all. The forward-looking statements in this news release represent the views of the Company as of the date of this news release. Subsequent events and developments may cause that view to change. However, while the Company may elect to update these forward-looking statements at some point in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of the Company as of any date subsequent to the date of this news release.

    Zeo Energy Corp. Contacts

    For Investors:
    Tom Colton and Greg Bradbury
    Gateway Group
    ZEO@gateway-grp.com

    For Media:
    Zach Kadletz
    Gateway Group
    ZEO@gateway-grp.com

    -Financial Tables to Follow-

    ZEO ENERGY CORP.
    CONDENSED CONSOLIDATED BALANCE SHEET (Unaudited)
     
        As of March 31,   As of December 31,  
          2025       2024    
    Assets              
    Current assets              
    Cash and cash equivalents   $ 2,894,103     $ 5,634,115    
    Accounts receivable, including $286,103 and $191,662 from related parties, net of allowance for credit losses of $4,703,905 and $1,165,336, as of March 31, 2025 and December 31, 2024, respectively     4,999,508       10,186,543    
    Inventories     847,395       872,470    
    Contract assets     577,398       64,202    
    Prepaid expenses and other current assets     936,673       2,131,345    
    Total current assets     10,255,077       18,888,675    
    Other assets     113,591       314,426    
    Property, equipment and other fixed assets, net     2,629,283       2,475,963    
    Right of use operating lease assets     1,087,496       1,268,139    
    Right of use financing lease assets     412,893       447,012    
    Intangibles, net     2,938,804       7,571,156    
    Note receivable – related party     3,000,000       3,000,000    
    Goodwill     27,010,745       27,010,745    
    Total assets   $ 47,447,889     $ 60,976,116    
                   
    Liabilities, redeemable noncontrolling interest and stockholders’ (deficit) equity        
    Current liabilities              
    Accounts payable   $ 3,569,632     $ 2,780,885    
    Accrued expenses and other current liabilities, including $2,320,129 and $3,359,101 with related parties at March 31, 2025 and December 31, 2024, respectively     6,581,799       8,540,188    
    Current portion of long-term debt     301,091       291,036    
    Current portion of obligations under operating leases     555,672       583,429    
    Current portion of obligations under financing leases     133,408       130,464    
    Convertible promissory note     2,455,000       2,440,000    
    Contract liabilities, including $0 and $2,000 with related parties as of March 31, 2025 and December 31, 2024, respectively     119,417       203,607    
    Total current liabilities     13,716,019       14,969,609    
    Obligations under operating leases, non-current     662,291       799,385    
    Obligations under financing leases, non-current     314,167       348,807    
    Warrant liabilities     785,551       1,449,000    
    Long-term debt     414,268       496,623    
    Total liabilities     15,892,296       18,063,424    
                   
    Commitments and contingencies (Note 14)              
                   
    Redeemable noncontrolling interests              
    Convertible preferred units, 1,500,000 units issued and outstanding as of March 31, 2025 and December 31, 2024, respectively     16,536,108       16,130,871    
    Class B Units     38,097,300       115,693,900    
                   
    Stockholders’ equity              
    Class V common stock, $0.0001 par value, 100,000,000 authorized shares; 26,730,000 and 35,230,000 shares issued and outstanding as of March 31, 2025, and December 31, 2024, respectively     2,673       3,523    
    Class A common stock, $0.0001 par value, 300,000,000 authorized shares; 21,796,464 and 13,252,964 shares issued and outstanding as of March 31, 2025, and December 31, 2023, respectively     2,180       1,326    
    Additional paid in capital     16,486,224       14,523,963    
    Accumulated deficit     (39,568,892 )     (103,440,891 )  
    Total stockholders’ deficit     (23,077,815 )     (88,912,079 )  
    Total liabilities, redeemable noncontrolling interests and stockholders’ (deficit) equity   $ 47,447,889     $ 60,976,116    
                   
    ZEO ENERGY CORP.
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
        Three months ended March 31,
        2025     2024  
    Revenue, net   $ 6,216,391     $ 11,329,387  
    Related party revenue, net     2,567,304       8,812,769  
    Total revenue     8,783,695       20,142,156  
    Operating costs and expenses:            
    Cost of goods sold (exclusive of items shown below)     4,789,679       13,957,966  
    Depreciation and amortization     4,900,729       459,529  
    Sales and marketing     2,137,092       6,553,787  
    General and administrative     10,467,593       3,219,422  
    Total operating expenses     22,295,093       24,190,704  
    (Loss) income from operations     (13,511,398 )     (4,048,548 )
    Other (expenses) income, net:            
    Other income, net     82,363        
    Change in fair value of warrant liabilities     663,449       (138,000 )
    Interest expense     (30,277 )     (35,222 )
    Total other expense, net     715,535       (173,222 )
    Net (loss) income before taxes     (12,795,863 )     (4,221,770 )
    Income tax (expense) benefit     (523,500 )     114,668  
    Net (loss) income     (13,319,363 )     (4,107,102 )
    Net (loss) attributable to Sunergy Renewables LLC prior to the Business Combination           (523,681 )
    Net (loss) income subsequent to the Business Combination     (13,319,363 )     (3,583,421 )
    Net (loss) income attributable to redeemable non-controlling interests     (6,958,098 )     (2,051,930 )
    Net (loss) income attributable to Class A common stock   $ (6,361,265 )   $ (1,531,491 )
                 
    Basic and diluted net (loss) income per common unit   $ (0.48 )   $ (1.54 )
    Weighted average units outstanding, basic and diluted     13,252,964       994,345  
                 
    ZEO ENERGY CORP.
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
      Three Months Ended March 31,
      2025     2024  
    Cash Flows from Operating Activities          
    Net (loss) income $ (13,319,363 )   $ (4,107,102 )
    Adjustment to reconcile net (loss) income to cash (used in) provided by operating activities          
    Depreciation and amortization   4,900,729       459,529  
    Interest income          
    Change in fair value of warrant liabilities   (663,449 )     138,000  
    Provision for credit losses   3,538,569       150,000  
    Noncash operating lease expense   180,643       152,717  
    Stock based compensation expense   2,257,139       3,118,584  
    Changes in operating assets and liabilities:          
    Accounts receivable   1,742,907       (2,297,517 )
    Accounts receivable due from related parties   (94,441 )     (2,692,841 )
    Inventories   25,075       (28,968 )
    Prepaid installation costs   (513,196 )     4,448,953  
    Prepaids and other current assets   1,138,288       (1,420,528 )
    Other assets   (37,656 )     (109,443 )
    Accounts payable   788,747       (400,861 )
    Accrued expenses and other current liabilities   (919,417 )     (691,316 )
    Accrued expenses and other current liabilities due to related parties   (1,038,972 )     (2,148,960 )
    Contract liabilities   (82,190 )     (3,508,323 )
    Contract liabilities due to related parties   (2,000 )     (1,054,263 )
    Operating lease payments   (164,851 )     (159,650 )
    Net cash (used in) provided by operating activities   (2,263,438 )     (10,151,989 )
               
    Cash flows from Investing Activities          
    Purchases of property, equipment and other assets   (372,578 )     (226,076 )
    Net cash used in investing activities   (372,578 )     (226,076 )
               
    Cash flows from Financing Activities          
    Principal payment of finance lease liabilities   (31,696 )     (28,537 )
    Proceeds from the issuance of convertible preferred stock, net of transaction costs         10,277,275  
    Repayments of debt   (72,300 )     (71,855 )
    Distributions to members         (90,000 )
    Net cash provided by (used in) financing activities   (103,996 )     10,086,883  
               
    Net (decrease) increase in cash and cash equivalents   (2,740,012 )     (291,182 )
    Cash and cash equivalents, beginning of period   5,634,115       8,022,306  
    Cash and cash equivalents, end of the period $ 2,894,103     $ 7,731,124  
               
    Supplemental Cash Flow Information          
    Cash paid for interest $ 25,785     $ 34,060  
    Cash paid for income taxes $     $  
    Noncash finance lease expense $ 34,119     $ 34,118  
               
    Non-cash transactions          
    Deferred equity issuance costs $     $ 3,269,039  
    Issuance of Class A common stock to vendors $     $ 891,035  
    Issuance of Class A common stock to backstop investors $     $ 1,569,463  
    Preferred dividends $ 405,237     $ 8,224,091  

    The MIL Network

  • MIL-OSI Security: Conspirators sentenced for engaging in a multitude of fraud schemes, including romance scams, investment fraud, and business email compromise, to steal at least $17 million

    Source: Office of United States Attorneys

    SHERMAN, Texas –Multiple defendants have been sentenced to federal prison for their role in an elaborate fraud scheme in the Eastern District of Texas, announced Acting U.S. Attorney Jay R. Combs.

    Damilola Kumapayi, 39, of Plano, pleaded guilty to conspiring to commit wire fraud and was sentenced to 109 months in federal prison.

    Sandra Iribhogbe Popnen, 50, of Plano, pleaded guilty to conspiring to commit wire fraud and conspiring to commit money laundering and was sentenced to 365 months in federal prison.

    Edgal Iribhogbe, 51, of Allen, was found guilty at trial of conspiring to commit wire fraud and conspiring to commit money laundering and was sentenced to 480 months in federal prison.

    Chidindu Okeke, 32, of Houston, was found guilty at trial of conspiring to commit wire fraud and conspiring to commit money laundering and was sentenced to 480 months in federal prison.

    Chiagoziem Okeke, 32, of Houston, was found guilty at trial of conspiring to commit wire fraud and conspiring to commit money laundering and was sentenced to 480 months in federal prison.

    “Transnational organized criminals targeting the hard-earned savings of elderly and vulnerable populations are simply despicable,” said Acting U.S. Attorney Jay R. Combs.  “The long arm of the American justice system has no limits when it comes to reaching fraudsters who prey on our nation’s most vulnerable populations. The defendants’ lengthy sentences in this case reflect the seriousness of their crimes and the dedication of law enforcement officers and prosecutors to bring them to justice.  I want to thank our law enforcement partners for their outstanding work on this case.”

    “The defendants were part of a transnational organized crime syndicate that defrauded victims collectively out of millions of dollars. For some individuals, this was their life savings, and they were unable to financially recover,” said FBI Dallas Special Agent in Charge R. Joseph Rothrock. “We hope these sentences give them a sense of comfort and sends a clear message that the FBI is committed to pursuing justice for victims.”

    “The collective sentences of nearly 160 years handed down to these defendants is a testament to the unwavering resolve of IRS Criminal Investigation (IRS-CI) and our law enforcement partners,” said Christopher J. Altemus, Jr., IRS-CI Special Agent in Charge of the Dallas Field Office.  “Through relentless investigation and prosecution, they have brought justice to the victims, holding these predators accountable for exploiting trust and devastating lives. IRS-CI and our partners are committed to prosecuting criminals for financial crimes, especially those that prey on our elderly and vulnerable.”

    The sentencing hearings were held before U.S. District Judge Amos L. Mazzant, III on June 16, 2025, in Sherman.

    According to information presented in court, beginning around January 2017, the defendants used a multitude of fraudulent schemes to obtain money from their victims, including online romance scams, business email compromise and investor fraud, and unemployment insurance fraud.  The defendants coordinated how to extract money from their victims, and then how to disguise, disburse, and launder that money once they successfully defrauded their victims.  The scheme resulted in approximately $17 million fraudulently obtained from at least 100 individual victims, companies, and government entities from across the world.  The scheme specifically targeted elderly persons and used various schemes such as online dating sites to lure their victims.  Once funds were obtained from their victims, the defendants laundered the money through a network of various bank accounts and sent money to bank accounts, co-conspirators and businesses located in Africa and Asia.

    This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

    This case was investigated by the FBI’s Dallas Field Office; Homeland Security Investigations; Internal Revenue Service-Criminal Investigation; Department of Labor-Office of Inspector General; the U.S. Department of State’s Diplomatic Security Service (DSS); U.S. Postal Inspection Service; U.S. Citizenship and Immigration Service; Allen Police Department; Denton Police Department; Dallas County Sheriff’s Office; and Texas Department of Public Safety.  This case was prosecuted by assistant U.S. attorneys in the Plano office.

    ###

    MIL Security OSI

  • MIL-OSI Security: Conspirators sentenced for engaging in a multitude of fraud schemes, including romance scams, investment fraud, and business email compromise, to steal at least $17 million

    Source: Office of United States Attorneys

    SHERMAN, Texas –Multiple defendants have been sentenced to federal prison for their role in an elaborate fraud scheme in the Eastern District of Texas, announced Acting U.S. Attorney Jay R. Combs.

    Damilola Kumapayi, 39, of Plano, pleaded guilty to conspiring to commit wire fraud and was sentenced to 109 months in federal prison.

    Sandra Iribhogbe Popnen, 50, of Plano, pleaded guilty to conspiring to commit wire fraud and conspiring to commit money laundering and was sentenced to 365 months in federal prison.

    Edgal Iribhogbe, 51, of Allen, was found guilty at trial of conspiring to commit wire fraud and conspiring to commit money laundering and was sentenced to 480 months in federal prison.

    Chidindu Okeke, 32, of Houston, was found guilty at trial of conspiring to commit wire fraud and conspiring to commit money laundering and was sentenced to 480 months in federal prison.

    Chiagoziem Okeke, 32, of Houston, was found guilty at trial of conspiring to commit wire fraud and conspiring to commit money laundering and was sentenced to 480 months in federal prison.

    “Transnational organized criminals targeting the hard-earned savings of elderly and vulnerable populations are simply despicable,” said Acting U.S. Attorney Jay R. Combs.  “The long arm of the American justice system has no limits when it comes to reaching fraudsters who prey on our nation’s most vulnerable populations. The defendants’ lengthy sentences in this case reflect the seriousness of their crimes and the dedication of law enforcement officers and prosecutors to bring them to justice.  I want to thank our law enforcement partners for their outstanding work on this case.”

    “The defendants were part of a transnational organized crime syndicate that defrauded victims collectively out of millions of dollars. For some individuals, this was their life savings, and they were unable to financially recover,” said FBI Dallas Special Agent in Charge R. Joseph Rothrock. “We hope these sentences give them a sense of comfort and sends a clear message that the FBI is committed to pursuing justice for victims.”

    “The collective sentences of nearly 160 years handed down to these defendants is a testament to the unwavering resolve of IRS Criminal Investigation (IRS-CI) and our law enforcement partners,” said Christopher J. Altemus, Jr., IRS-CI Special Agent in Charge of the Dallas Field Office.  “Through relentless investigation and prosecution, they have brought justice to the victims, holding these predators accountable for exploiting trust and devastating lives. IRS-CI and our partners are committed to prosecuting criminals for financial crimes, especially those that prey on our elderly and vulnerable.”

    The sentencing hearings were held before U.S. District Judge Amos L. Mazzant, III on June 16, 2025, in Sherman.

    According to information presented in court, beginning around January 2017, the defendants used a multitude of fraudulent schemes to obtain money from their victims, including online romance scams, business email compromise and investor fraud, and unemployment insurance fraud.  The defendants coordinated how to extract money from their victims, and then how to disguise, disburse, and launder that money once they successfully defrauded their victims.  The scheme resulted in approximately $17 million fraudulently obtained from at least 100 individual victims, companies, and government entities from across the world.  The scheme specifically targeted elderly persons and used various schemes such as online dating sites to lure their victims.  Once funds were obtained from their victims, the defendants laundered the money through a network of various bank accounts and sent money to bank accounts, co-conspirators and businesses located in Africa and Asia.

    This case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to repel the invasion of illegal immigration, achieve the total elimination of cartels and transnational criminal organizations (TCOs), and protect our communities from the perpetrators of violent crime. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

    This case was investigated by the FBI’s Dallas Field Office; Homeland Security Investigations; Internal Revenue Service-Criminal Investigation; Department of Labor-Office of Inspector General; the U.S. Department of State’s Diplomatic Security Service (DSS); U.S. Postal Inspection Service; U.S. Citizenship and Immigration Service; Allen Police Department; Denton Police Department; Dallas County Sheriff’s Office; and Texas Department of Public Safety.  This case was prosecuted by assistant U.S. attorneys in the Plano office.

    ###

    MIL Security OSI

  • MIL-OSI USA: Capitol Hill Touts Benefits of the One Big Beautiful Bill

    US Senate News:

    Source: US Whitehouse
    Across Capitol Hill, members of Congress have been sharing with their constituents the benefits of President Donald J. Trump’s One Big Beautiful Bill — which include the largest tax cut in history, higher wages and take-home pay, unprecedented spending cuts, border security, protecting Medicaid, modernizing air traffic control, and much more.
    Here are what some members of Congress are saying around the country:
    Sen. Chuck Grassley (R-IA) on FoxNews.com: How Senate Republicans are restoring rule of law and securing border for years to come
    “While Democrat allies riot in the streets, Republicans are standing up for what’s right. Today, as chairman of the Senate Judiciary Committee, I released legislative text for my committee’s section of the ‘One Big Beautiful Bill.’ The Judiciary Committee’s provisions provide historic investments to strengthen our nation’s border security and immigration system, support local law enforcement and protect American families from violence like we’ve seen in Los Angeles. The costs of the judiciary section are offset by immigration application fees, which inject accountability into the immigration system.”
    Sen. Cynthia Lummis (R-WY) in Cowboy State Daily: Trump’s Border Triumph — Making America Secure Again
    “The Senate is currently developing President Trump’s comprehensive legislative package, known as the One Big, Beautiful Bill Act, with the goal of passage by July 4th. This legislation contains several immigration measures that I believe are essential. The bill provides funding to help finish President Trump’s border wall, and gives Border Patrol and ICE agents the resources, technology, and personnel they need to carry out the mission … The American people were clear last November when they voted and told Washington, D.C. that it is time to fully secure our border and deport illegal aliens. These provisions give President Trump and his administration the resources they need to continue delivering on this mandate.”
    Sen. Roger Marshall (R-KS) on FoxNews.com: Trump’s One Big, Beautiful Bill will keep our border the most secure it’s been in history
    “Our country stands at a crossroads. Thanks to President Donald Trump’s and Homeland Security Secretary Noem’s leadership, our border is secure. We can either capitalize on this success and give law enforcement the resources it needs to keep it secure by passing the One Big, Beautiful Bill, or we can let the sacrifice of our men and women on the ground be in vain.”
    Rep. Jodey Arrington (R-TX), Rep. August Pfluger (R-TX) in The Hill: The One Big Beautiful Bill Act delivers for America. Now the Senate Must Deliver Too.
    “The House of Representatives has delivered on the American people’s mandate by passing the One Big Beautiful Bill Act, the most comprehensive and consequential set of conservative reforms in our nation’s history. This transformative package includes record levels of tax cuts, spending reduction, and border and national security investment. The ball is now in the Senate’s court and their mission is simple: move the One Big Beautiful Bill to the president’s desk as soon as possible.”
    Rep. Michael Baumgartner (R-WA) in the Ritzville Adams County Journal: One ‘Big, Beautiful, Bill Act’ is good for us
    “This legislation delivers on the promises made to the American people: to secure the border, cut taxes, unleash American energy and restore fairness to our economy. It reflects what voters demanded and what I pledged to deliver.”
    Rep. Andy Barr (R-KY) in the Lexington Herald-Leader: Senate must pass Trump’s ‘Big, Beautiful Bill’
    “Last month, I voted to pass President Trump’s Big, Beautiful Bill. It was an easy vote. The president’s leadership produced a transformational legislative win that will deliver an across-the-board tax cut for families, small businesses, farmers and seniors. On top of tax relief for Kentuckians still rebounding from four years of runaway inflation under Joe Biden, we surge resources to help law enforcement seal the Southern border and provide $1.6 trillion in deficit reduction, all while strengthening Medicaid for Kentuckians who need it. That’s why my message to U.S. senators, especially from Kentucky, is very simple: pass the Big, Beautiful Bill, and send it to the president’s desk. Kentuckians can’t afford to wait, literally.”
    Rep. Jack Bergman (R-MI) in The Detroit News: One Big Beautiful Bill corrects nation’s course
    “After the last four years of chaos in America under the Biden-Harris administration — from our overwhelmed southern border to reckless binge spending driving up our national debt — we are one bad decision, or one failure to act, away from catastrophe. That’s why I supported the One Big Beautiful Bill Act, which will deliver middle-class tax relief, secure our borders, bolster our defense, and restore the kind of fiscal responsibility that northern Michigan families have practiced for generations. This bill will turn the tide against out-of-control spending and help rescue our economy.”
    Rep. Vern Buchanan (R-FL) in the Sarasota Herald-Tribune: Floridians benefit from Trump’s tax cuts. We can’t let Democrats take them away.
    “As Floridians begin to recover from the disastrous Biden administration, the last thing they need is a massive tax hike – but that’s exactly what will happen if Congress doesn’t act. That’s why Republicans are working to extend President Donald Trump’s 2017 tax cuts and ensure all Americans get the relief they deserve.”
    Rep. Buddy Carter (R-GA) in the Atlanta Journal-Constitution: Sens. Ossoff, Warnock should support Trump’s ‘big, beautiful bill’
    “Georgia’s Democratic U.S. Senators Jon Ossoff and Raphael Warnock should not oppose President Trump’s ‘One, Big, Beautiful Bill’ Act (OBBBA) … the most consequential piece of legislation of our generation. It is a legacy defining bill that I was proud to support when it passed the House of Representatives, advancing President Trump’s full domestic agenda that more than 77 million Americans overwhelmingly voted for back in November. That’s exactly why Ossoff and Warnock are going to fight this bill at every turn.”
    Rep. Tom Cole (R-OK) on Indianz.com: Promises Made, Promises Kept
    “Last November, the American people gave their Representatives a mandate when they overwhelmingly voted for change. 77 million Americans made it very clear to us that they wanted a secure border, the resurgence of American energy dominance, lower taxes, a lethal military focused on warfighting instead of woke initiatives, and a more efficient federal government that roots out fraud, waste, and abuse of taxpayer dollars — essentially the platform that President Trump ran on. Now, less than six months into the new Trump Administration, the United States House of Representatives has already delivered on these promises by passing the One Big Beautiful Bill Act.”
    Rep. Ben Cline (R-VA) on RealClearPolitics.com: A Big, Beautiful Win for America
    “The American Dream is back in reach and our nation is back on the path to prosperity, security, and sanity, thanks to the actions of the House of Representatives last week. With the House’s passage of President Trump’s ‘One Big Beautiful Bill,’ we’ve shown that it is possible to return common sense to our government, protect taxpayers, secure our borders, and chart a course for national Golden Age – all in one package.”
    Rep. Troy Downing (R-WY) in the Billings Gazette: We are staring down the barrel of a 26% tax increase
    “We are staring down the barrel of a 26% tax increase. If Congress does not take action to extend the President Donald Trump’s tax cuts by Jan. 1 of next year, the average Montana family of four will be out more than $1,400 per year … Put plainly, a vote opposing an extension of the TCJA is a vote to raise taxes — on the rich, on the poor, on you, on your neighbor, on family farms, on the coffee shop down the street. Republicans will prevent Democrats from walking America off a fiscal cliff and avoid this catastrophic tax hike that threatens the financial security of countless Montanans.”
    Rep. Neal Dunn (R-FL) in the Tallahassee Democrat: Floridians: Don’t let Washington raise your taxes while you’re not looking
    “Across Florida’s 2nd Congressional District, families have already been stretched thin by rising costs – at the grocery store, at the gas pump, and on their utility bills. The last thing they need is a tax hike. But unless Congress acts soon, that’s exactly what nightmare is coming … Preventing this tax hike should be a bipartisan priority. We owe it to the people we serve to protect and build on the progress our nation has made. Congress must act to make the TCJA permanent – to protect prosperity, promote growth, and preserve the American Dream for the next generation.”
    Rep. Gabe Evans (R-CO) in Newsweek: House Republicans Are Keeping Our Promises on Border Security
    “Americans are desperate to feel safe in our own neighborhoods, but time and time again dangerous illegal immigrants stole from, raped, assaulted, and killed innocent Americans. It is an honor to sit on the House Homeland Security Committee and help lead the charge to secure our borders and follow through on our public safety promises to our constituents. As a part of Congress’ reconciliation package, Homeland Republicans recently advanced recommendations for border security funding to protect Americans, including over $46 billion to complete the border wall system. This money will provide an additional 701 miles of primary wall, construction of 900 miles of river barriers, and even technology like sensors. A physical border is key to keeping the bad guys out.”
    Rep. Randy Feenstra (R-IA) in the Times-Republican: Iowa families will benefit from President Trump’s ‘One, Big, Beautiful Bill’
    “The other week, my Republican colleagues in the U.S. House of Representatives and I passed President Trump’s ‘One, Big, Beautiful Bill.’ This legislation contains numerous provisions to put more money back in the pockets of Iowa families … President Trump’s ‘One, Big, Beautiful Bill’ will finally give our families room to breathe again. Estimates suggest that families could see up to $13,300 more in take-home pay, with workers potentially gaining up to $11,600 in higher wages over four years. With provisions that end taxes on tips, overtime, and auto loan interest for American-made cars, working parents can be certain that the extra effort they’re putting in for their families will pay off.”
    Rep. Michelle Fischbach (R-MN) in the Park Rapids Enterprise: One Big Beautiful Bill Act helps families and small businesses
    “The One Big Beautiful Bill Act protects Medicaid for those who need and deserve it … It makes the 2017 Trump tax cuts permanent, which have been so beneficial for families and small businesses to grow and thrive, even during the uncertain economic times we experienced over the last several years. This bill permanently doubles the guaranteed standard deduction and expands it by $2,000 for every American family. It creates new tax relief for seniors by adding an additional $4,000 deduction for those aged 65 and over. It makes the 199A small business deduction permanent and expands it to 23% for the over 60,000 small businesses in CD7. It makes the doubled death tax exemption permanent and expands it for the nearly 30,000 farms in CD7, helping families pass down their life’s work to the next generation. It prevents the child tax credit from being cut in half and expands the credit to $2,500 to support 74,460 families in CD7. It eliminates tax on tips and overtime pay. And, it expands 529 education plans so families can make the right choices for them, including using 529s for K-12 education materials, universities or trade schools.”
    Rep. Sam Graves (R-MO) in The Washington Times: One Big Beautiful Bill Act provides a flight path for a modern air traffic control system
    “This has been a difficult year for U.S. aviation, with a string of tragic crashes that have killed passengers and crew. Additionally, we have seen reports about failing technology that has caused repeated air traffic control outages and flight delays. Meanwhile, a shortage of certified air traffic controllers has put additional strain on our aviation system. President Trump, Transportation Secretary Sean Duffy and House Republicans are saying ‘enough is enough,’ and we are doing something about it.”
    Rep. Mark Green (R-NC) on RealClearPolitics.com: ‘One Big, Beautiful Bill’ Will Give Americans a Secure Border
    “The only way for us to make good on our promises to the American people is to codify President Trump’s agenda. Funding common-sense and effective border security measures through reconciliation is the first step.”
    Rep. Michael Guest (R-MS) in The Hill: Investing in border security is a win for every American
    “Since President Trump entered office in January of 2025, our border security has increased, the flow of illegal drugs has dropped dramatically, and illegal border crossings have plummeted to levels not seen in modern history. The success of the Trump administration’s leadership at our borders cannot be underestimated. Now, Congress must do its job to enshrine into law the work of President Trump.”
    Rep. Brett Guthrie (R-KY) on FoxNews.com: GOP fights to protect Medicaid for America’s most vulnerable while Democrats fearmonger
    “It is a top priority of House Republicans to eliminate the waste, fraud and abuse in the programs and safeguard expectant mothers, their children, low-income seniors and especially individuals living with disabilities who are receiving Medicaid coverage. Regrettably, Democrats continue to fuel the falsehood that 13 million individuals will lose healthcare coverage under OBBBA.”
    Rep. Mike Haridopolous (R-FL) in Florida Today: “One Big Beautiful Bill” is a win for Florida families, workers
    “America voted for change last November, and now we’re delivering it. Over the past four years, families have been hit with rising prices, shrinking paychecks, and a government that grew too big and too careless with your tax dollars. People are working harder than ever, but they’re falling behind. That’s not right, and that’s why my Republican colleagues and I in Congress are fighting hard to pass the ‘One Big Beautiful Bill’ This bill is about getting back to basics: Rewarding work, cutting waste, and putting American families first.”
    Rep. Erin Houchin (R-IN) in Newsweek: The Truth About the One Big Beautiful Bill—and What Democrats Don’t Want You to Know
    “Democrats have spent weeks fearmongering about so-called cuts to Medicaid, Medicare, and Social Security in the One Big Beautiful Bill. Let’s be clear: those talking points are false, and they know it. What this bill actually does is protect and preserve these critical safety net programs for the people they were designed to serve—pregnant women, children, individuals with disabilities, and seniors. It does so by taking on the real problem: waste, fraud, and abuse that have run rampant in our federal health programs for decades.”
    Rep. Jen Kiggans (R-VA) in the Washington Examiner: The ‘big, beautiful bill’ protects Medicaid for those who need it
    “When I came to Congress, I promised the people of Virginia’s 2nd Congressional District that I would pursue practical solutions to improve the lives of working families — without the drama, the headlines, or the politics. That commitment is reflected in the House’s recently passed “big, beautiful bill,” a practical, solutions-oriented piece of legislation that restores accountability to our safety net programs. Unfortunately, misinformation has clouded the bill’s intent, particularly when it comes to Medicaid. Let me set the record straight: This legislation does not cut Medicaid for those who truly need it. Instead, it strengthens the program for low-income families, seniors, and individuals with disabilities while rooting out waste and holding bad actors accountable.”
    Rep. David Kustoff (R-TN) in the Washington Examiner: The ‘one big, beautiful bill’ will restore the American dream
    “Unfortunately, if Congress does not act, many of the provisions in TCJA will expire at the end of the year. If that happens, the average family in my district of West Tennessee will face a nearly 26% tax hike. A child inheriting the family farm could pay such steep estate taxes that he is forced to sell it. And a small business owner competing with larger corporations could see her taxes nearly double. These are not just numbers on a chart in Washington. These provisions affect each and every one of us. If they expire, the American dream could be unachievable for many of our citizens.”
    Rep. Tracey Mann (R-MO) in the Kansas City Star: Kansas deserves the gift of Trump’s One Big Beautiful Bill
    “I recently voted in the U.S. House of Representatives to advance the One Big Beautiful Bill Act, which would provide working- and middle-class Americans with the largest tax cuts in history and make long overdue investments into our nation’s border security by funding the completion of the border wall. The legislation would equip Customs and Border Patrol with modern technology to assist with intercepting drug and human smuggling while increasing detention capacity for Immigration and Customs Enforcement as it works to deport violent criminals and gang members who are in the country illegally.”
    Rep. Adrian Smith (R-NE) in the Pawnee Republican: Building Certainty for Small Businesses
    “For workers and entrepreneurs, few places are as ripe with economic opportunity as the United States of America. Our world-leading workforce, natural resources, educational institutions, rule of law committed to protecting capital investment, and unique features such as deepwater ports providing access to export goods and services to consumers across both the Atlantic and Pacific Oceans provide opportunities for American families with few rivals elsewhere around the globe. Despite these economic strengths, there is much we can improve. The federal government remains inefficient, and we must address issues such as our spending-driven budget deficit. Likewise, too many work-capable Americans remain on the sidelines despite millions of good jobs available in our economy. Efforts to address the waste, fraud, and abuse in federally funded programs are vitally important for the fiscal health of our country, as are expanded efforts to help sidelined Americans connect with good jobs. For this reason, the reconciliation bill passed by the House enhances accountability for state administration of federal benefit programs and improves incentives for beneficiaries to find meaningful work.”
    Rep. Jason Smith (R-MO) on FoxNews.com: It’s time for Congress to deliver President Trump’s ‘big, beautiful bill’ to his desk
    “Republicans have a historic opportunity to deliver America First tax reforms that reward hard work, bring jobs back home, expand opportunity, and most importantly, rebuild the American economy for hardworking families across our nation. President Donald Trump has been crystal clear about what he wanted Congress to deliver – 77 million Americans raced to the ballot box in support of his vision of lower taxes for those whose sweat moves our economy forward. Now, The One, Big, Beautiful Bill passed by the Ways and Means Committee delivers for those workers. It makes permanent the expiring provisions of the successful 2017 Trump tax cuts, provides additional tax relief to American families, and rewards those who manufacture more at home and hire more American workers. The additional tax relief includes eliminating taxes on tips, overtime pay, and auto loan interest, and delivering tax relief for seniors. Now, Congress must not fail the American people.”
    Rep. Tim Walberg (R-MI) in Leader Publications: Empowering Hardworking Americans through one big beautiful bill
    “The One Big Beautiful Bill Act represents the culmination of each instructed committee’s plan to eliminate waste, fraud, and abuse in Washington and make vital investments in our communities. In total, the bill would provide over $1.6 billion in savings, allowing the federal government to be better stewards of American tax dollars and put us back on the path to fiscal prosperity.  The cornerstone of the package is the permanent expansion of the Tax Cuts and Jobs Act of 2017, which revitalized our economy, unleashing unprecedented job growth and higher wages for working families. Two years after being signed into law, real median household income increased by $5,000 and real wages rose by 4.9%, allowing families to pocket more of their hard-earned money. The reforms also incentivized businesses to invest more in the U.S., ending the decades-long trend of U.S. companies shipping operations overseas.”
    Rep. Rob Wittman (R-VA) in The Virginian-Pilot: Voting for spending bill kept my word to Virginians
    “Let me set the record straight: I kept my word. I fought for Virginians, and I voted to protect working families, strengthen our safety net, and invest in national security and economic opportunity. Before this bill even came to a vote, I raised my voice publicly to demand protections for the vulnerable. In April, I wrote to House leadership making clear that balancing the budget must not come at the expense of pregnant women, children, seniors or individuals with disabilities. I demanded reforms that would support patients, help new mothers and expand savings for working-class families. This bill delivers on that promise.”
    Rep. Rudy Yakym (R-IN) in Goshen News: The One, Big, Beautiful Bill Explained
    “The One Big Beautiful Bill isn’t some bloated spending package. It doesn’t give any money to the Department of Education, HUD, or the EPA. What it does is straightforward: cut taxes, rein in federal spending, permanently secure the border, and reform welfare. When I’m meeting with Hoosier manufacturers and small business owners or chatting with friends at the grocery store, they’re clear about one thing: They’re taxed enough. And I agree. That’s why it makes the 2017 Trump Tax Cuts permanent. That means bigger paychecks, more investment in America, and strong incentives for companies to stay in the U.S. rather than send jobs overseas.”

    MIL OSI USA News

  • MIL-OSI USA: Acting Chairman Caroline D. Pham on Passing of Former Chairman Bagley

    Source: US Commodity Futures Trading Commission

    Acting Chairman Caroline D. Pham on Passing of Former Chairman Bagley | CFTC

    /PressRoom/SpeechesTestimony/phamstatement061625
    Skip to main content

    June 16, 2025

    WASHINGTON, D.C. – Commodity Futures Trading Commission acting Chairman Caroline D. Pham today issued the following statement on the passing of the Hon. William T. Bagley, the CFTC’s first chairman:
    “Chairman Bagley was instrumental in laying the foundation for what has become the world’s preeminent derivatives regulator. As the first CFTC chairman, he shepherded our agency through its first years, executing on once-novel Congressional authorities and establishing a regulatory framework to expand risk mitigation tools for America’s growers, producers, builders and merchants. Fifty years after Chairman Bagley first opened the doors at the CFTC, this framework continues to be critical in driving the American economy forward. We celebrate Chairman Bagley’s life and legacy and owe him a debt of gratitude for his years of service to our markets, our economy, and our Nation.  On behalf of the entire CFTC community, I extend my condolences to Chairman Bagley’s family.

    -CFTC-

    MIL OSI USA News

  • MIL-OSI USA: BUCKS COUNTY – Lt. Gov. Austin Davis to Advocate for Shapiro-Davis Administration’s Proposed Mass Transit Investments, Connecting Communities and Powering Pennsylvania’s Economy

    Source: US State of Pennsylvania

    June 17, 2025Croydon, PA

    ADVISORY – BUCKS COUNTY – Lt. Gov. Austin Davis to Advocate for Shapiro-Davis Administration’s Proposed Mass Transit Investments, Connecting Communities and Powering Pennsylvania’s Economy

    Lt. Gov. Austin Davis will join representatives from the Southeastern Pennsylvania Transportation Authority (SEPTA), as well as leaders from local employers, to highlight the importance of investing in mass transit to create jobs, connect communities and grow Pennsylvania’s economy.
    The Lieutenant Governor will host a news conference Tuesday, June 17, at 9:15 a.m. at SEPTA’s Croydon Station, 751 Bristol Pike, Croydon.

    The Lieutenant Governor will then board a Trenton Line Regional Rail train to travel to Suburban Station in downtown Philadelphia.
    The Shapiro-Davis 2025-26 budget proposal calls for significant investment in mass transit and road and bridge infrastructure all across the Commonwealth ensuring Pennsylvanians can get where they need to go.

    WHO:
    Lt. Gov. Austin Davis, state Sen. Steve Santarsiero, SEPTA Board Chair Ken Lawrence, Transport Workers Union Local 234 President Brian Pollitt, Holy Family University President Dr. Anne Prisco, Bucks County Transportation Management Association Executive Director Stephen Noll

    WHAT:
    News conference and ride-along to highlight the importance of investing in public transit

    WHEN:
    Tuesday, June 17, at 9:15 a.m.

    WHERE:
    SEPTA’s Croydon Station
    751 Bristol Pike, Croydon

    RSVP:
    Members of the news media who are interested in attending the news conference must RSVP to Kirstin Alvanitakis at kirstinalv@pa.gov. There will be opportunities for b-roll footage during the ride-along.

    MIL OSI USA News

  • MIL-OSI USA: BUCKS COUNTY – Lt. Gov. Austin Davis to Advocate for Shapiro-Davis Administration’s Proposed Mass Transit Investments, Connecting Communities and Powering Pennsylvania’s Economy

    Source: US State of Pennsylvania

    June 17, 2025Croydon, PA

    ADVISORY – BUCKS COUNTY – Lt. Gov. Austin Davis to Advocate for Shapiro-Davis Administration’s Proposed Mass Transit Investments, Connecting Communities and Powering Pennsylvania’s Economy

    Lt. Gov. Austin Davis will join representatives from the Southeastern Pennsylvania Transportation Authority (SEPTA), as well as leaders from local employers, to highlight the importance of investing in mass transit to create jobs, connect communities and grow Pennsylvania’s economy.
    The Lieutenant Governor will host a news conference Tuesday, June 17, at 9:15 a.m. at SEPTA’s Croydon Station, 751 Bristol Pike, Croydon.

    The Lieutenant Governor will then board a Trenton Line Regional Rail train to travel to Suburban Station in downtown Philadelphia.
    The Shapiro-Davis 2025-26 budget proposal calls for significant investment in mass transit and road and bridge infrastructure all across the Commonwealth ensuring Pennsylvanians can get where they need to go.

    WHO:
    Lt. Gov. Austin Davis, state Sen. Steve Santarsiero, SEPTA Board Chair Ken Lawrence, Transport Workers Union Local 234 President Brian Pollitt, Holy Family University President Dr. Anne Prisco, Bucks County Transportation Management Association Executive Director Stephen Noll

    WHAT:
    News conference and ride-along to highlight the importance of investing in public transit

    WHEN:
    Tuesday, June 17, at 9:15 a.m.

    WHERE:
    SEPTA’s Croydon Station
    751 Bristol Pike, Croydon

    RSVP:
    Members of the news media who are interested in attending the news conference must RSVP to Kirstin Alvanitakis at kirstinalv@pa.gov. There will be opportunities for b-roll footage during the ride-along.

    MIL OSI USA News

  • MIL-OSI USA: Justice Department Declines Prosecution of Private Equity Firm Following Voluntary Disclosure of Sanctions Violations and Related Offenses Committed by Acquired Company

    Source: US State of California

    Department Credits Firm’s Swift Disclosure and Cooperation in Stopping Violations and Securing Former CEO’s Conviction

    Note: View a copy of the White Deer declination letter, Unicat non-prosecution agreement, and Mani Erfan’s plea agreement.

    The Justice Department’s National Security Division (NSD) and the U.S. Attorney’s Office for the Southern District of Texas (SDTX) today announced that they declined the prosecution of private equity firm White Deer Management LLC (White Deer) and its affiliates after the firm discovered and voluntarily self-disclosed criminal violations of U.S. sanctions and export laws committed by a company it acquired, Texas-based Unicat Catalyst Technologies LLC (Unicat).

    NSD and SDTX also announced that the Justice Department entered into a non-prosecution agreement (NPA) with Unicat, and that, on Aug. 19, 2024, the former chief executive officer (CEO) and co-founder of Unicat, Mani Erfan, pleaded guilty to conspiring to violate U.S. sanctions against Iran and other countries and foreign governments, as well as concealment and international promotional money laundering. As part of his plea, Erfan also agreed to pay a money judgment in the amount of $1,600,000.

    “After acquiring a company with a hidden history of sanctions violations, this private equity firm uncovered the misconduct, stopped it, and quickly reported it to the government, leading to the successful prosecution of a senior executive,” said Assistant Attorney General for National Security John A. Eisenberg. “Our decision to decline prosecution of the acquiror and extend a non-prosecution agreement to the acquired entity in this case reflects the National Security Division’s strong commitment to rewarding responsible corporate leadership.”

    “Illegally exporting sensitive items to Venezuela and Iran to help them evade sanctions directly undermines U.S. foreign policy and threatens our national security,” said Special Agent in Charge Chad Plantz of Immigration and Customs Enforcement – Homeland Security Investigations (ICE-HSI) Houston. “HSI will not sit by idly while businesses or individuals operating in the U.S. blatantly help our nation’s adversaries procure sensitive technologies or weapons and today’s announcement of a $3 million fine and the imposition of criminal charges is just another example of that enduring commitment.”

    As detailed in court documents and in the Department’s agreements with White Deer and Unicat, from approximately 2014 through 2021, Mani Erfan, Unicat’s former CEO, conspired with others, including at least one other Unicat employee, to cause Unicat to submit bids and make sales to customers in Iran, Venezuela, Syria, and Cuba in violation of U.S. economic sanctions. In total, Erfan caused Unicat to make a total of 23 unlawful sales of chemical catalysts used in oil refining and steel production to customers in Iran, Venezuela, and Cuba. Some of the sales were effected through exports of catalysts from the United States and further violated U.S. export control laws.

    To further the conspiracy, the conspirators made false statements in export documents and financial records about the true identities and locations of Unicat’s customers and falsely assured some Unicat employees that the company’s business with customers subject to U.S. economic sanctions was lawful. Unicat obtained approximately $3.33 million in revenue from its unlawful sales.

    Erfan and Unicat employees additionally falsified invoices to reduce the tariffs assessed on catalysts that Unicat imported from China. By undervaluing these imports, Unicat caused a loss of revenue of approximately $1.66 million in duties, taxes, and fees. Further, during negotiations to sell Unicat to White Deer, Unicat’s prior owners provided representations and warranties to White Deer attesting to Unicat’s compliance with U.S. sanctions and export control laws.

    The scheme came to light in June 2021, in the midst of the COVID-19 pandemic, after White Deer acquired Unicat and a second company based in the United Kingdom, and Unicat’s new CEO was able to travel to the United States to visit Unicat and begin to integrate the operations of the company. During his visit, the new CEO learned that Unicat had a pending transaction with an Iranian customer and immediately ordered the deal’s cancellation. Over the next month, White Deer and Unicat’s new CEO retained counsel to investigate, and learned that Unicat had engaged in a series of transactions with counterparties subject to different U.S. sanctions programs. Before the investigation was complete, but after determining that Unicat employees had engaged in potentially criminal violations of U.S. sanctions laws, White Deer and Unicat’s new management submitted a voluntary self-disclosure to NSD.

    Pursuant to the NPA, Unicat agreed to pay forfeiture totaling $3,325,052.10, representing the proceeds of its violations of U.S. sanctions and export control laws. In parallel resolutions coordinated between the Justice Department, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), and the Commerce Department’s Bureau of Industry and Security (BIS) Office of Export Enforcement (OEE), Unicat agreed to pay $3,882,797 to OFAC for its apparent violations of U.S. sanctions laws, and agreed with OEE to pay a penalty of $391,183 for its violation of U.S. export control laws. OFAC agreed to credit Unicat’s payment of forfeiture pursuant to the NPA against the OFAC penalty, and OEE has agreed to credit Unicat’s payment to OFAC against the OEE penalty. In a separate administrative resolution with U.S. Customs and Border Protection, Unicat agreed to pay $1,655,189.57, in underpaid duties, taxes, and fees.

    NSD and SDTX declined White Deer’s prosecution and entered into the NPA with Unicat after considering the factors set forth in the Department’s Principles of Federal Prosecution of Business Organizations, the National Security Division Enforcement Policy for Business Organizations (NSD Enforcement Policy), and pursuant to the provisions of the NSD Enforcement Policy that apply to Voluntary Self-Disclosures in Connection with Acquisitions (the NSD M&A Policy).

    The NSD M&A Policy provides that when a company (1) completes a lawful bona fide acquisition of another entity, (2) voluntarily and timely self-discloses to NSD potentially criminal violations of laws affecting U.S. national security committed by the acquired entity, (3) fully cooperates with NSD’s investigation, and (4) timely and appropriately remediates the misconduct, NSD generally will not seek a guilty plea from the acquiror, and there is a presumption that NSD will decline to prosecute the acquiror. The NSD M&A Policy further provides that while a presumption of declination is not available to the acquired entity, NSD will credit the acquiror’s timely voluntary self-disclosure to the acquired entity and will consider whether the acquired entity otherwise satisfies the NSD Enforcement Policy’s requirements to obtain the benefits of the Policy.

    NSD and SDTX determined that White Deer’s acquisition of Unicat was a lawful bona fide acquisition, and that White Deer’s self-disclosure was timely under all of the relevant circumstances, including the COVID-19 pandemic and in the context of White Deer’s acquisition of Unicat and efforts to integrate the company’s operations into another acquired entity. White Deer and Unicat fully cooperated with the government’s subsequent investigation by proactively identifying, collecting, and disclosing relevant evidence to investigators, including foreign language evidence and evidence located overseas, and providing detailed and timely responses to the government’s requests for information and evidence. White Deer’s and Unicat’s cooperation materially assisted the government’s investigation, leading to the successful prosecution of Unicat’s former CEO. Unicat remediated the root cause of the misconduct in less than one year from the date of its discovery by terminating culpable employees, disciplining other employees involved in the misconduct, seeking reimbursement from Unicat’s sellers, and designing and implementing a comprehensive and robust internal controls and compliance program that has proven effective in practice at identifying and preventing similar potential misconduct.

    This resolution marks the first time since the creation of the Justice Department’s Mergers and Acquisitions Policy in March 2024 that the Department has declined the prosecution of an acquiror for self-disclosing criminal conduct discovered at an acquired entity.

    Trial Attorneys Adam P. Barry and Yifei Zheng of the National Security Division’s Counterintelligence and Export Control Section, and Assistant U.S. Attorney S. Mark McIntyre for the Southern District of Texas prosecuted the case.

    ICE-HSI, the Defense Criminal Investigative Service, and BIS investigated the case.

    MIL OSI USA News

  • MIL-OSI USA: Justice Department Declines Prosecution of Private Equity Firm Following Voluntary Disclosure of Sanctions Violations and Related Offenses Committed by Acquired Company

    Source: US State of California

    Department Credits Firm’s Swift Disclosure and Cooperation in Stopping Violations and Securing Former CEO’s Conviction

    Note: View a copy of the White Deer declination letter, Unicat non-prosecution agreement, and Mani Erfan’s plea agreement.

    The Justice Department’s National Security Division (NSD) and the U.S. Attorney’s Office for the Southern District of Texas (SDTX) today announced that they declined the prosecution of private equity firm White Deer Management LLC (White Deer) and its affiliates after the firm discovered and voluntarily self-disclosed criminal violations of U.S. sanctions and export laws committed by a company it acquired, Texas-based Unicat Catalyst Technologies LLC (Unicat).

    NSD and SDTX also announced that the Justice Department entered into a non-prosecution agreement (NPA) with Unicat, and that, on Aug. 19, 2024, the former chief executive officer (CEO) and co-founder of Unicat, Mani Erfan, pleaded guilty to conspiring to violate U.S. sanctions against Iran and other countries and foreign governments, as well as concealment and international promotional money laundering. As part of his plea, Erfan also agreed to pay a money judgment in the amount of $1,600,000.

    “After acquiring a company with a hidden history of sanctions violations, this private equity firm uncovered the misconduct, stopped it, and quickly reported it to the government, leading to the successful prosecution of a senior executive,” said Assistant Attorney General for National Security John A. Eisenberg. “Our decision to decline prosecution of the acquiror and extend a non-prosecution agreement to the acquired entity in this case reflects the National Security Division’s strong commitment to rewarding responsible corporate leadership.”

    “Illegally exporting sensitive items to Venezuela and Iran to help them evade sanctions directly undermines U.S. foreign policy and threatens our national security,” said Special Agent in Charge Chad Plantz of Immigration and Customs Enforcement – Homeland Security Investigations (ICE-HSI) Houston. “HSI will not sit by idly while businesses or individuals operating in the U.S. blatantly help our nation’s adversaries procure sensitive technologies or weapons and today’s announcement of a $3 million fine and the imposition of criminal charges is just another example of that enduring commitment.”

    As detailed in court documents and in the Department’s agreements with White Deer and Unicat, from approximately 2014 through 2021, Mani Erfan, Unicat’s former CEO, conspired with others, including at least one other Unicat employee, to cause Unicat to submit bids and make sales to customers in Iran, Venezuela, Syria, and Cuba in violation of U.S. economic sanctions. In total, Erfan caused Unicat to make a total of 23 unlawful sales of chemical catalysts used in oil refining and steel production to customers in Iran, Venezuela, and Cuba. Some of the sales were effected through exports of catalysts from the United States and further violated U.S. export control laws.

    To further the conspiracy, the conspirators made false statements in export documents and financial records about the true identities and locations of Unicat’s customers and falsely assured some Unicat employees that the company’s business with customers subject to U.S. economic sanctions was lawful. Unicat obtained approximately $3.33 million in revenue from its unlawful sales.

    Erfan and Unicat employees additionally falsified invoices to reduce the tariffs assessed on catalysts that Unicat imported from China. By undervaluing these imports, Unicat caused a loss of revenue of approximately $1.66 million in duties, taxes, and fees. Further, during negotiations to sell Unicat to White Deer, Unicat’s prior owners provided representations and warranties to White Deer attesting to Unicat’s compliance with U.S. sanctions and export control laws.

    The scheme came to light in June 2021, in the midst of the COVID-19 pandemic, after White Deer acquired Unicat and a second company based in the United Kingdom, and Unicat’s new CEO was able to travel to the United States to visit Unicat and begin to integrate the operations of the company. During his visit, the new CEO learned that Unicat had a pending transaction with an Iranian customer and immediately ordered the deal’s cancellation. Over the next month, White Deer and Unicat’s new CEO retained counsel to investigate, and learned that Unicat had engaged in a series of transactions with counterparties subject to different U.S. sanctions programs. Before the investigation was complete, but after determining that Unicat employees had engaged in potentially criminal violations of U.S. sanctions laws, White Deer and Unicat’s new management submitted a voluntary self-disclosure to NSD.

    Pursuant to the NPA, Unicat agreed to pay forfeiture totaling $3,325,052.10, representing the proceeds of its violations of U.S. sanctions and export control laws. In parallel resolutions coordinated between the Justice Department, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), and the Commerce Department’s Bureau of Industry and Security (BIS) Office of Export Enforcement (OEE), Unicat agreed to pay $3,882,797 to OFAC for its apparent violations of U.S. sanctions laws, and agreed with OEE to pay a penalty of $391,183 for its violation of U.S. export control laws. OFAC agreed to credit Unicat’s payment of forfeiture pursuant to the NPA against the OFAC penalty, and OEE has agreed to credit Unicat’s payment to OFAC against the OEE penalty. In a separate administrative resolution with U.S. Customs and Border Protection, Unicat agreed to pay $1,655,189.57, in underpaid duties, taxes, and fees.

    NSD and SDTX declined White Deer’s prosecution and entered into the NPA with Unicat after considering the factors set forth in the Department’s Principles of Federal Prosecution of Business Organizations, the National Security Division Enforcement Policy for Business Organizations (NSD Enforcement Policy), and pursuant to the provisions of the NSD Enforcement Policy that apply to Voluntary Self-Disclosures in Connection with Acquisitions (the NSD M&A Policy).

    The NSD M&A Policy provides that when a company (1) completes a lawful bona fide acquisition of another entity, (2) voluntarily and timely self-discloses to NSD potentially criminal violations of laws affecting U.S. national security committed by the acquired entity, (3) fully cooperates with NSD’s investigation, and (4) timely and appropriately remediates the misconduct, NSD generally will not seek a guilty plea from the acquiror, and there is a presumption that NSD will decline to prosecute the acquiror. The NSD M&A Policy further provides that while a presumption of declination is not available to the acquired entity, NSD will credit the acquiror’s timely voluntary self-disclosure to the acquired entity and will consider whether the acquired entity otherwise satisfies the NSD Enforcement Policy’s requirements to obtain the benefits of the Policy.

    NSD and SDTX determined that White Deer’s acquisition of Unicat was a lawful bona fide acquisition, and that White Deer’s self-disclosure was timely under all of the relevant circumstances, including the COVID-19 pandemic and in the context of White Deer’s acquisition of Unicat and efforts to integrate the company’s operations into another acquired entity. White Deer and Unicat fully cooperated with the government’s subsequent investigation by proactively identifying, collecting, and disclosing relevant evidence to investigators, including foreign language evidence and evidence located overseas, and providing detailed and timely responses to the government’s requests for information and evidence. White Deer’s and Unicat’s cooperation materially assisted the government’s investigation, leading to the successful prosecution of Unicat’s former CEO. Unicat remediated the root cause of the misconduct in less than one year from the date of its discovery by terminating culpable employees, disciplining other employees involved in the misconduct, seeking reimbursement from Unicat’s sellers, and designing and implementing a comprehensive and robust internal controls and compliance program that has proven effective in practice at identifying and preventing similar potential misconduct.

    This resolution marks the first time since the creation of the Justice Department’s Mergers and Acquisitions Policy in March 2024 that the Department has declined the prosecution of an acquiror for self-disclosing criminal conduct discovered at an acquired entity.

    Trial Attorneys Adam P. Barry and Yifei Zheng of the National Security Division’s Counterintelligence and Export Control Section, and Assistant U.S. Attorney S. Mark McIntyre for the Southern District of Texas prosecuted the case.

    ICE-HSI, the Defense Criminal Investigative Service, and BIS investigated the case.

    MIL OSI USA News

  • MIL-OSI Security: Justice Department Declines Prosecution of Private Equity Firm Following Voluntary Disclosure of Sanctions Violations and Related Offenses Committed by Acquired Company

    Source: United States Attorneys General 7

    Department Credits Firm’s Swift Disclosure and Cooperation in Stopping Violations and Securing Former CEO’s Conviction

    Note: View a copy of the White Deer declination letter, Unicat non-prosecution agreement, and Mani Erfan’s plea agreement.

    The Justice Department’s National Security Division (NSD) and the U.S. Attorney’s Office for the Southern District of Texas (SDTX) today announced that they declined the prosecution of private equity firm White Deer Management LLC (White Deer) and its affiliates after the firm discovered and voluntarily self-disclosed criminal violations of U.S. sanctions and export laws committed by a company it acquired, Texas-based Unicat Catalyst Technologies LLC (Unicat).

    NSD and SDTX also announced that the Justice Department entered into a non-prosecution agreement (NPA) with Unicat, and that, on Aug. 19, 2024, the former chief executive officer (CEO) and co-founder of Unicat, Mani Erfan, pleaded guilty to conspiring to violate U.S. sanctions against Iran and other countries and foreign governments, as well as concealment and international promotional money laundering. As part of his plea, Erfan also agreed to pay a money judgment in the amount of $1,600,000.

    “After acquiring a company with a hidden history of sanctions violations, this private equity firm uncovered the misconduct, stopped it, and quickly reported it to the government, leading to the successful prosecution of a senior executive,” said Assistant Attorney General for National Security John A. Eisenberg. “Our decision to decline prosecution of the acquiror and extend a non-prosecution agreement to the acquired entity in this case reflects the National Security Division’s strong commitment to rewarding responsible corporate leadership.”

    “Illegally exporting sensitive items to Venezuela and Iran to help them evade sanctions directly undermines U.S. foreign policy and threatens our national security,” said Special Agent in Charge Chad Plantz of Immigration and Customs Enforcement – Homeland Security Investigations (ICE-HSI) Houston. “HSI will not sit by idly while businesses or individuals operating in the U.S. blatantly help our nation’s adversaries procure sensitive technologies or weapons and today’s announcement of a $3 million fine and the imposition of criminal charges is just another example of that enduring commitment.”

    As detailed in court documents and in the Department’s agreements with White Deer and Unicat, from approximately 2014 through 2021, Mani Erfan, Unicat’s former CEO, conspired with others, including at least one other Unicat employee, to cause Unicat to submit bids and make sales to customers in Iran, Venezuela, Syria, and Cuba in violation of U.S. economic sanctions. In total, Erfan caused Unicat to make a total of 23 unlawful sales of chemical catalysts used in oil refining and steel production to customers in Iran, Venezuela, and Cuba. Some of the sales were effected through exports of catalysts from the United States and further violated U.S. export control laws.

    To further the conspiracy, the conspirators made false statements in export documents and financial records about the true identities and locations of Unicat’s customers and falsely assured some Unicat employees that the company’s business with customers subject to U.S. economic sanctions was lawful. Unicat obtained approximately $3.33 million in revenue from its unlawful sales.

    Erfan and Unicat employees additionally falsified invoices to reduce the tariffs assessed on catalysts that Unicat imported from China. By undervaluing these imports, Unicat caused a loss of revenue of approximately $1.66 million in duties, taxes, and fees. Further, during negotiations to sell Unicat to White Deer, Unicat’s prior owners provided representations and warranties to White Deer attesting to Unicat’s compliance with U.S. sanctions and export control laws.

    The scheme came to light in June 2021, in the midst of the COVID-19 pandemic, after White Deer acquired Unicat and a second company based in the United Kingdom, and Unicat’s new CEO was able to travel to the United States to visit Unicat and begin to integrate the operations of the company. During his visit, the new CEO learned that Unicat had a pending transaction with an Iranian customer and immediately ordered the deal’s cancellation. Over the next month, White Deer and Unicat’s new CEO retained counsel to investigate, and learned that Unicat had engaged in a series of transactions with counterparties subject to different U.S. sanctions programs. Before the investigation was complete, but after determining that Unicat employees had engaged in potentially criminal violations of U.S. sanctions laws, White Deer and Unicat’s new management submitted a voluntary self-disclosure to NSD.

    Pursuant to the NPA, Unicat agreed to pay forfeiture totaling $3,325,052.10, representing the proceeds of its violations of U.S. sanctions and export control laws. In parallel resolutions coordinated between the Justice Department, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), and the Commerce Department’s Bureau of Industry and Security (BIS) Office of Export Enforcement (OEE), Unicat agreed to pay $3,882,797 to OFAC for its apparent violations of U.S. sanctions laws, and agreed with OEE to pay a penalty of $391,183 for its violation of U.S. export control laws. OFAC agreed to credit Unicat’s payment of forfeiture pursuant to the NPA against the OFAC penalty, and OEE has agreed to credit Unicat’s payment to OFAC against the OEE penalty. In a separate administrative resolution with U.S. Customs and Border Protection, Unicat agreed to pay $1,655,189.57, in underpaid duties, taxes, and fees.

    NSD and SDTX declined White Deer’s prosecution and entered into the NPA with Unicat after considering the factors set forth in the Department’s Principles of Federal Prosecution of Business Organizations, the National Security Division Enforcement Policy for Business Organizations (NSD Enforcement Policy), and pursuant to the provisions of the NSD Enforcement Policy that apply to Voluntary Self-Disclosures in Connection with Acquisitions (the NSD M&A Policy).

    The NSD M&A Policy provides that when a company (1) completes a lawful bona fide acquisition of another entity, (2) voluntarily and timely self-discloses to NSD potentially criminal violations of laws affecting U.S. national security committed by the acquired entity, (3) fully cooperates with NSD’s investigation, and (4) timely and appropriately remediates the misconduct, NSD generally will not seek a guilty plea from the acquiror, and there is a presumption that NSD will decline to prosecute the acquiror. The NSD M&A Policy further provides that while a presumption of declination is not available to the acquired entity, NSD will credit the acquiror’s timely voluntary self-disclosure to the acquired entity and will consider whether the acquired entity otherwise satisfies the NSD Enforcement Policy’s requirements to obtain the benefits of the Policy.

    NSD and SDTX determined that White Deer’s acquisition of Unicat was a lawful bona fide acquisition, and that White Deer’s self-disclosure was timely under all of the relevant circumstances, including the COVID-19 pandemic and in the context of White Deer’s acquisition of Unicat and efforts to integrate the company’s operations into another acquired entity. White Deer and Unicat fully cooperated with the government’s subsequent investigation by proactively identifying, collecting, and disclosing relevant evidence to investigators, including foreign language evidence and evidence located overseas, and providing detailed and timely responses to the government’s requests for information and evidence. White Deer’s and Unicat’s cooperation materially assisted the government’s investigation, leading to the successful prosecution of Unicat’s former CEO. Unicat remediated the root cause of the misconduct in less than one year from the date of its discovery by terminating culpable employees, disciplining other employees involved in the misconduct, seeking reimbursement from Unicat’s sellers, and designing and implementing a comprehensive and robust internal controls and compliance program that has proven effective in practice at identifying and preventing similar potential misconduct.

    This resolution marks the first time since the creation of the Justice Department’s Mergers and Acquisitions Policy in March 2024 that the Department has declined the prosecution of an acquiror for self-disclosing criminal conduct discovered at an acquired entity.

    Trial Attorneys Adam P. Barry and Yifei Zheng of the National Security Division’s Counterintelligence and Export Control Section, and Assistant U.S. Attorney S. Mark McIntyre for the Southern District of Texas prosecuted the case.

    ICE-HSI, the Defense Criminal Investigative Service, and BIS investigated the case.

    MIL Security OSI

  • MIL-OSI: Panther Launches PTR Token to Empower Ultra X, Building a Bridge for a Global AI Trading Ecosystem

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, June 16, 2025 (GLOBE NEWSWIRE) — In today’s increasingly complex and data-driven global financial markets, the integration of artificial intelligence (AI) and blockchain technology is reshaping the investment landscape. Traditional quantitative trading, reliant on human decisions and limited data analysis, struggles to meet the rapidly changing market demands. Meanwhile, investors are increasingly seeking efficient, transparent, and intelligent trading tools. Against this backdrop, the Panther Quantitative Think Tank Investment Center has emerged with its innovative Ultra X quantitative trading system and native token PTR. PTR is not only the core driving force of the Ultra X ecosystem but also serves as a bridge connecting investors, developers, and AI platforms, building a revolutionary global trading network and opening up new possibilities for wealth creation.

    PTR: The Core Link of the Ultra X Ecosystem

    The PTR token is the lifeblood of the Ultra X ecosystem, with a profound impact on creating and maintaining an AI-driven quantitative trading ecosystem. Ultra X is a cutting-edge trading system that integrates deep learning, big data analysis, and blockchain technology, supporting autonomous trading in stocks, gold, options, and cryptocurrencies (such as BTC, ETH, USDT, USDC). As a bridge within the ecosystem, PTR connects various stakeholders and drives every aspect from research and development to global promotion, ensuring Ultra X becomes the “super brain” of the financial market.

    The head of Panther’s R&D team stated, “PTR is the soul of the Ultra X ecosystem. It is not only the funding engine for technological innovation but also the key link for global investors to share success with Ultra X.”

    How PTR Shapes the Ultra X Ecosystem

    PTR’s unique position is reflected in the following core functions, highlighting its profound impact as an ecosystem bridge:

    • 1. Funding Link: Driving Technological Innovation

    PTR provides funding for Ultra X’s R&D, data acquisition, and global server deployment through decentralized financing. For example, PTR supports the system’s real-time analysis of massive data, ensuring Ultra X continues to evolve and maintain technological leadership.

    • 2. Incentive Bridge: Connecting Users and Value

    PTR holders enjoy advanced features of Ultra X, such as real-time monitoring of investment market directions and trends, dashboards for cryptocurrency capital flows (USDT, BTC, ETH, USDC), and exclusive trading strategy reports. Through a profit-sharing mechanism, holders can share in the profits after Ultra X’s market launch, directly participating in ecological value creation. This incentive model closely connects users and the platform.

    • 3. Governance Hub: Empowering Community Participation

    PTR is not just a trading tool; it grants governance rights to holders. In the future, holders will be able to vote on Ultra X’s feature upgrades or personalized services, building a community-driven ecosystem. This decentralized governance reinforces PTR’s position as an ecosystem bridge.

    • 4. Trust Foundation: Safeguarding User Interests

    Panther commits to fully compensating users if Ultra X’s recommended strategies result in losses, with a single compensation cap of 100%. This mechanism seamlessly connects user trust with platform responsibility through PTR’s bridging role, enhancing the ecosystem’s reliability.

    Advantages and Features of PTR

    • · Ecosystem Integration: PTR unites investors, developers, and AI technologies, creating a self-sustaining trading ecosystem that transcends traditional financial models.
    • · Global Connectivity: Supports the global promotion of Ultra X, covering regions such as the U.S., Canada, the UK, and Asia, with plans to launch on Google Play and the App Store to expand user reach.
    • · Transparency and Trustworthiness: Semi-annual independent audits of Ultra X performance and PTR usage details, coupled with strict AML/KYC policies and cold wallet storage, ensure fund security.
    • · Social Value: Panther donates 5% of Ultra X profits to educational and technological public welfare, reflecting the social responsibility of the PTR ecosystem.

    The Cornerstone of Trust and Transparency

    Panther reinforces the credibility of PTR and Ultra X through transparent operations. Monthly reports from independent audits publicly disclose trading performance and token usage, which users can access in real-time via the Panther official website (https://pqtic.com). Funds are managed by a third-party custodian, with PTR reserves stored in multi-signature cold wallets, preventing unauthorized access. Additionally, Panther’s market value management program ensures the healthy development of PTR prices through liquidity support and strategic partnerships, protecting the interests of early investors.

    PTR: The Connector of Financial Futures

    The PTR token serves as a link and bridge, transforming Ultra X into a global AI trading ecosystem. Whether providing funding for the system, incentivizing user participation, or empowering community governance, PTR is pushing the boundaries of financial technology. Supported by Ultra X, it analyzes market trends and social media sentiment to provide precise strategies, helping users succeed in a volatile market. As Panther accelerates global promotion and recruits regional sales agents, PTR is becoming a benchmark in fintech that connects technology and wealth.

    About Panther Quantitative Think Tank Investment Center

    Founded in 2017 and headquartered in New York, Panther is a pioneer in AI-driven quantitative trading. Its flagship product, Ultra X, integrates deep learning, natural language processing, and blockchain technology to provide intelligent trading solutions. With a global network of partners, Panther is committed to reshaping the future of wealth creation.

    Website: https://pqtic.com/

    Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

    The MIL Network

  • MIL-OSI: PCM Encore Surpasses $1.2 Billion in Client Assets, Expands Nationwide in First Six Months Serving External Families

    Source: GlobeNewswire (MIL-OSI)

    Built over five years as a single family office, PCM Encore opened to other families six months ago and now manages over $1.2 billion. With 57 families onboard, the firm continues expanding its advisor network and direct investment capabilities across the country.

    Photo Credit PCM Encore

    BELLEVUE, Wash., June 16, 2025 (GLOBE NEWSWIRE) — PCM Encore today announced that it has exceeded $1.2 billion in assets under management, just six months after opening its platform to outside families. Originally founded as a single family office, PCM Encore has spent the past five years building a robust, institutional-grade wealth management platform. The firm now serves 57 families across the United States.

    PCM Encore provides a comprehensive suite of investment, tax, estate, and family office services tailored to the needs of sophisticated families. The platform emphasizes long-term partnership, after-tax return optimization, and access to high-quality private and public investment opportunities.

    Key Milestones Achieved in the First Six Months:

    PCM Encore’s early growth reflects rising demand among wealthy families for a more personalized alternative to traditional wirehouse and RIA offerings. With over $1.2 billion in client AUM, the firm is focused on sustainable, relationship-driven expansion.

    • Built out a team of registered advisors based in: Aspen, Charlotte, Dallas, Denver, and Seattle
    • Developed a direct investment team based in Menlo Park
    • Opened an additional office in Miami
    • Onboarded 57 families to the PCM Encore platform
    • Expanded team to more than 15 professionals, including experts in investment management, technology, compliance, and client advisory
    • Delivered comprehensive services, including tax and estate planning, family office solutions, and portfolio optimization
    • Facilitated client access to a broad array of leading fund managers and investment strategies, including: Direct Indexing, Private Credit, Private Real Estate, Private Infrastructure, Private Equity, Venture Capital

    Tax Alpha In a Volatile Market

    PCM Encore’s tax-aware investing approach has helped clients outperform even in a stagnant market. During the volatility following April’s “Liberation Day” tariff announcements, the firm’s investment team deployed aggressive tax loss harvesting strategies. While major indices like the S&P 500 were flat year-to-date through May, PCM Encore clients ended the period meaningfully ahead on an after-tax basis.

    Especially in environments like this, after-tax returns are what separate smart portfolios from the rest,” said Bradford Lin, Principal at PCM Encore and former KKR private equity executive. “By capturing losses tactically and reinvesting, we’ve delivered tax alpha that compounds over time—even when the market goes nowhere.”

    The firm reported over 1% in tax alpha in Q1, with early Q2 data pointing to even stronger results. Past performance is not indicative of future results. Tax alpha results may vary based on individual circumstances and market conditions.

    Institutional Investment Platform with a Proven Track Record

    PCM Encore offers families access to a carefully curated suite of private and public investment opportunities, along with proprietary diligence, ongoing monitoring, and operational support.

    Notable recent outcomes include:

    • A successful exit from Vector, a trucking and logistics software company, at a nine-figure valuation, where PCM Encore was a seed investor and board member
    • In partnership with ACG and Prudential, breaking ground on the first major multifamily development project of 2025 in the Seattle metro area

    These results highlight the firm’s ability to originate and execute investments across various asset classes while aligning with client portfolios.

    Building a Team for Long-Term Success

    PCM Encore was founded by Michael Paulus, a seasoned growth investor and entrepreneur with a track record of building companies at scale. The firm’s team has grown to include professionals with backgrounds in investment management, technology, compliance, and client service. PCM Encore’s leadership includes:

    • Bradford Lin, Direct Investments Principal and former KKR private equity executive
    • John Shepard, Chief Technology Officer and former Microsoft executive
    • Sam Rice, Chief Compliance Officer
    • Andrew Weiss, Chief Marketing Officer

    The firm remains focused on expanding its platform and deepening relationships with families nationwide.

    “We’ve spent years building PCM Encore for our own family,” Paulus added. “Now, we’re honored to be a trusted partner to other families who share our long-term mindset and value the same high standards that we do.”

    Visit PCM Encore website to learn more about PCM Encore’s services and locations.

    About PCM Encore

    PCM Encore is a technology-forward, independent fiduciary financial advisor serving ultra-high-net-worth individuals, trusts, and family offices. The firm combines a personalized, client-first approach with institutional investment access, proprietary strategies, and deep expertise in tax and estate planning. PCM Encore is headquartered in Bellevue, Washington, with advisors and investment professionals based in Aspen, Charlotte, Dallas, Denver, Seattle, and Menlo Park.

    Contact Information:

    Contact Person’s Name: Michael Paulus
    Organization / Company: PCM Encore
    Company website: https://encoreinvestment.com/
    Contact Email Address: hello@encoreinvestment.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8268d15a-8f5f-4987-862a-1a16eb873dde

    The MIL Network

  • MIL-OSI USA: SBA Relief Still Available to New Jersey Small Businesses and Private Nonprofits Affected by Excessive Rain and High Winds

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) is reminding small businesses and private nonprofit (PNP)organizations in New Jersey of the July 15 deadline to apply for low interest federal disaster loans to offset economic losses caused by excessive rain and high winds occurring July 16, 2024.

    The disaster declaration covers New Jersey counties of Morris, Passaic, Sussex and Warren; Orange in New York as well as Monroe and Pike in Pennsylvania.

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

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

    “Through a declaration by the U.S. Secretary of Agriculture, SBA provides critical financial assistance to help communities recover,” said Chris Stallings, associate administrator of the Office of Disaster Recovery and Resilience at the SBA. “We’re pleased to offer loans to small businesses and private nonprofits impacted by these disasters.”

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

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

    Submit completed loan applications to SBA no later than July 15, 2025.

    ###

    About the U.S. Small Business Administration

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

    MIL OSI USA News

  • MIL-OSI USA: SBA Relief Still Available for Florida Private Nonprofits Affected by Hurricane Milton

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) is reminding eligible private nonprofit (PNP) organizations in the Florida area of the July 16 deadline to apply for low interest federal disaster loans to offset economic losses caused by Hurricane Milton on        Oct. 5-Nov. 2, 2024.

    The disaster declaration covers the counties of Brevard, Charlotte, Citrus, Clay, Collier, DeSoto, Duval, Flagler, Glades, Hardee, Hendry, Hernando, Highlands, Hillsborough, Indian River, Lake, Lee, Manatee, Marion, Martin, Nassau, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, Sarasota, Seminole, St. Johns, St. Lucie, Sumter, the Miccosukee Tribe of Indians of Florida and Volusia.

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to PNPs providing non-critical services of a governmental nature with financial losses directly related to the disaster. Example of eligible non-critical PNPs include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools and colleges.

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

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

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

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

    The deadline to return economic injury applications is July 16, 2025.

    ###

    About the U.S. Small Business Administration

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

    MIL OSI USA News

  • MIL-OSI Banking: Services Council spotlights good regulatory practices, advances discussions on other issues

    Source: WTO

    Headline: Services Council spotlights good regulatory practices, advances discussions on other issues

    On 10 June, members also participated in an event under the “Simply Services” series, which serves as an informal platform for sharing the latest developments in trade in services (see below).
    Thematic session on good regulatory practices
    An informal thematic session on good regulatory practices (GRPs) was held on 12-13 June, as agreed at the March meeting of the Council for Trade in Services. GRPs for services trade refer to approaches to designing and implementing regulations aimed at achieving better regulatory outcomes. Discussions focused on measures such as increased transparency, including through stakeholder engagement, streamlining and digitalizing authorization processes, and promoting impartial and independent regulatory decision-making.
    The session featured extensive experience-sharing. The WTO Secretariat provided a broad overview of GRPs in services trade, including their role in regional trade agreements and their economic benefits. International organizations and regional economic fora — including the Organisation for Economic Co-operation and Development (OECD), the World Bank, United Nations Trade and Development (UNCTAD), the Asia-Pacific Economic Cooperation (APEC), the Association of Southeast Asian Nations (ASEAN) Secretariat, and the International Trade Centre (ITC) — shared data demonstrating how effective design and implementation of GRPs can boost both trade and economic growth. They also emphasized the importance of addressing implementation gaps between high- and low-income countries through capacity building, institutional strengthening, and more inclusive stakeholder engagement.
    Several members, including Australia, China, the European Union, Hong Kong China, the Philippines, the Republic of Korea, and the United Kingdom, as well as other organizations, presented national experiences in leveraging GRPs to facilitate services trade. They highlighted domestic reforms to simplify procedures, reduce regulatory burdens, and improve regulatory quality, including through digital tools, single online portals, regulatory impact assessments, and enhanced stakeholder engagement. The importance of predictability, proportionality, inter-agency coordination, and outcome-focused regulation was underscored, alongside efforts to foster innovation, facilitate cross-border trade, and strengthen regulatory cooperation.
    Members reflected on the key takeaways from the session, emphasizing the rich discussions and valuable insights shared. Several noted that GRPs not only support international trade but also enhance domestic competitiveness and consumer welfare. The role of GRPs in strengthening crisis preparedness and resilience was also emphasized, with examples showing how transparent, predictable and streamlined regulatory frameworks can support faster and more effective responses in times of emergency.
    There was broad recognition of the role that international commitments, such as WTO members’ recent adoption of disciplines on services domestic regulation and regional trade agreements, play in providing a stable framework for consolidating domestic reforms aimed at improving the domestic business environment. Members expressed interest in continuing experience-sharing and peer learning. They also encouraged other members to adopt WTO disciplines on services domestic regulation to sustain reform efforts and promote services trade. 
    At the close of the session, the Chair of the Council for Trade in Services, H.E. Ambassador Ram Prasad Subedi (Nepal), emphasized that the depth and quality of GRP implementation by ministries and regulatory authorities is essential, with regulatory reforms representing an ongoing process informed by experience, evolving capacities and changing circumstances. He underlined the value of peer learning and regular exchanges on regulatory innovation, as well as the role that technical assistance can play in supporting members’ reform efforts.
    Responding to ministerial mandates
    Members continued efforts to advance the instruction in the 2024 Ministerial Declaration to reinvigorate work on trade in services and facilitate greater participation of developing members in services trade.
    The African, Caribbean and Pacific (ACP) Group introduced a submission on the role of services trade in responding to crises and resilience-building, as well as on the challenges faced by developing members in realizing the full potential of services trade. Members supported deepening work on the ACP Group’s proposal, with some suggesting a thematic session for further discussions.
    Barbados, South Africa, and the United Kingdom also presented a proposal for a thematic session on the green services economy and sustainable development. Members agreed in principle to organize an informal experience-sharing session in December, contingent on agreeing on an acceptable outline, to further explore the opportunities and challenges of leveraging services trade to deliver on environmental objectives. Suggestions were made on possible topics and speakers.
    As previously agreed at the March meeting, the Council is scheduled to organise an informal thematic session on the recognition of professional qualifications in October, subject to convergence on the session’s outline.
    Participation of least-developed countries in services trade
    Members received an update by the WTO Least Developed Countries (LDC) Group regarding its request to conduct a survey, hosted on the WTO website, to collect information on how their service suppliers engage with consumers and businesses in other economies. The LDC Group reported on ongoing consultations with a member who has maintained reservations about the request since the March meeting.
    The Group reaffirmed the importance of the survey in supporting LDCs’ participation in services trade, in line with the ministerial mandate to operationalize the “LDC Services Waiver,” adopted at the 8th Ministerial Conference in 2011.
    Engagement between the members concerned will continue to reach consensus on the issue.
    Services trade concerns
    The Council addressed issues related to recent unilateral tariff measures. China noted the need to consider overall trade balances, that include services trade, when setting trade policy. It also expressed concerns about the impact of US “reciprocal” tariffs on global supply chains and underscored the importance of multilateral collaboration under the WTO. The latter point in particular was echoed by other members. The United States said that, in contrast to the openness of its service markets, China maintained many restrictions and uncompetitive practices in numerous services sectors.
    Members also reverted to previously raised specific trade concerns. Japan and the United States repeated their concerns over cybersecurity measures implemented by China and Viet Nam, with several members echoing these concerns.
    China reiterated its concerns regarding certain US services measures and India’s measures affecting mobile applications.
    Trade in financial services
    On 11 June, the Committee on Trade in Financial Services appointed Mr. Will Nixon of Australia as its new Chair.
    Members focused on a proposal to organize an informal thematic session on “Facilitating Digital Payment Systems and Remittance Services”, building on the original proposal submitted by China, India, Pakistan, and the Philippines, which was first reviewed at the March meeting. The proposal covers three main topics: developing robust digital payment systems, ensuring interoperability of payment systems, and facilitating cross-border remittances.
    The Committee agreed to consider the latest version of the draft agenda put forward by China and the Philippines. Unless any objections are raised by 20 June 2025, the proposal will be automatically adopted. If approved, the session will take place alongside the next cluster of services meetings scheduled for 29 September to 3 October.
    The Committee also discussed a new submission by Morocco (S/FIN/W/103) on reducing the costs of cross-border remittances. Morocco emphasized the strategic importance of remittances for the economic and social development of developing members and called for multilateral cooperation to improve remittance transfers, reduce costs, and enhance transparency. It also expressed its intent to bring this issue to the 14th Ministerial Conference (MC14) in March 2026. Members agreed to continue discussions at the next Committee meeting.
    Classification of environmental services
    At its 11 June meeting, the Committee on Specific Commitments confirmed Mr. Sirapat Vajraphai of Thailand as its new Chair. The Committee is one of the subsidiary bodies of the Services Council.
    Discussions focused on the classification of environmental services. Building on previous discussions regarding the Agreement on Climate Change, Trade and Sustainability (ACCTS) and its contributions to defining and classifying environmental services, the United Kingdom presented its new analysis (S/CSC/W/80), comparing the APEC Reference List and the ACCTS List. Delegates welcomed the UK’s analysis as a valuable foundation for further work and expressed interest in continued engagement on this issue.
    Members also revisited Canada’s proposal (S/CSC/W/77) for an informal experience-sharing session on services classification related to the environment. They agreed to hold the session in October alongside the next services cluster of meetings.
    Recent developments in services trade policy
    An event held on 12 June, entitled “Services Unbound — Digital Technologies and Policy Reform in East Asia and the Pacific,” addressed the region’s challenges, particularly barriers to competition in key services that hinder innovation. Participants also called for deeper domestic reforms and stronger international cooperation.
    The event was organized by the WTO’s Trade in Services and Investment Division as part of the “Simply Services” speaker series, an informal platform for sharing the latest information on services trade trends. The webcast of the event is available here.

    Share

    MIL OSI Global Banks

  • MIL-OSI Banking: Verizon’s Total Wireless Supports Working Students with First-Ever Social Impact Program, “Total Spark”

    Source: Verizon

    Headline: Verizon’s Total Wireless Supports Working Students with First-Ever Social Impact Program, “Total Spark”

    NEW YORK — Total Wireless, a leading provider of premium, affordable and flexible wireless plans covered by the Verizon 5G network, today announces the launch of Total Spark, the latest social impact program from the Verizon Value portfolio.

    Designed to support working students, Total Spark is tailor-made to meet the Total Wireless community where they are – whether they’re working full-time and going to school at night, balancing family obligations with school, part-time students pursuing additional training and more.

    To help Total Spark truly meet the needs of working students everywhere, the brand commissioned a custom survey of more than 1,000 U.S. adult students[1] to uncover insights on the true needs of working students across the country and found:

    • A third (32%) of working students have a job to support their families. Additionally, one-third (32%) of working students rely on government subsidy programs to get by, and a large majority (89%) working students have student loans.
    • Nearly three quarters (73%) of working students wish they had additional support to help them with pursuing a career. Career mentorship was indicated as the most useful support service for all students.
    • Only 1 in 10 working students strongly agree that they have adequate free time. Time is short for many, as unaided, general time management is the number one obstacle among working students.
    • Mobile phones are seen as an essential tool for staying connected by a large majority of working students (90%). This is especially true for students who work full-time, who indicate they rely on mobile phones to stay connected for work and for job searching.

    That’s why Total Wireless partnered with Empower Work, a national nonprofit on a mission to build healthier workplaces, to support programs that addressed each of these pain points. Together, Total Wireless and Empower Work identified five nonprofit organizations in Chicago, Dallas, and Detroit to receive grants between $50,000 – $150,000. The grants will fund existing community-oriented programs supporting working students – from job training and skill development to job placement and career advancement. Additionally, Total Spark will enable each grant recipient to host in-person events for working students at predetermined, independently operated Total Wireless retail locations in each city later this year. With many working students indicating the need for career support, Total Spark events will focus programming in this area and on other pressing needs of working students today.

    “Our Total Wireless customers are the ultimate go-getters – and we know nobody hustles harder than working students,” Nancy Clark, President of the Verizon Value segment said. “Whether our customers are returning to school or celebrating a recent graduation, connections on-line and off are crucial – our Total Spark program is just a reminder that we are ‘in your corner’ no matter the stage of that journey. We’re proud to support our communities when and where they need it most.”  

    In its first year, Total Spark will support the following nonprofits in three cities, with additional expansions planned for the coming years.

    Chicago, IL

    • The Jane Addams Resource Corporation promotes strong communities, businesses, and households to ensure that people who work do not live in poverty. Throughout the year, JARC offers free manufacturing training in Welding and CNC (Computer Numerical Control), along with wraparound support services to help adults build skills and secure steady, living-wage jobs that bring financial stability to themselves and their families.
    • LIFT-Chicago programs invest in families with children ages 0-8 through integrated financial coaching and direct cash support. Additionally, they offer educational and employment coaching for adults, empowering parents to set and achieve goals that put families on the path toward economic mobility through support for going back to school, improving credit, eliminating debt, or securing a living wage.

    Dallas, TX

    • The Wilkinson Center – whose mission is to transform the lives of Dallas families by providing pathways to self-sufficiency with dignity and respect – serves approximately 24,000 individuals annually through a wide range of programming, including financial coaching, emergency support services, as well as adult education and workforce training.

    Detroit, MI

    • NPower Michigan is rooted in community and dedicated to empowering young adults and military-connected individuals from low-income communities to thrive in the digital economy. Through transformative, no-cost IT training, industry-recognized credentialing, job placement assistance, and comprehensive social support services, NPower creates clear career pathways to economic mobility and sustainability.
    • TechTown Detroit’s mission is to drive economic growth by supporting entrepreneurs, startups, and small businesses, particularly those in tech and innovation. For working students, TechTown provides access to resources, networking, and career development opportunities to help them balance work, education, and entrepreneurial goals.

    To mark the Total Spark debut, Total is hosting a one-of-a-kind “Career Spark” Fair in Chicago on Friday, June 27 near Wicker Park. Total’s “Career Spark” fair will provide working students in the area with the tools they need to achieve success. Stations are focused on student well-being and career growth and include tips and resources to manage work/life balance, short and long term career opportunities, community resources from our nonprofit partners & Total Spark grant recipients, a headshot station, plenty of Total swag, and more.

    On Thursday, June 26, the brand will also take coffee, career and community to new heights at its takeover of the buzzy Oro Coffee & Chocolate coffee shop pop-up, where working students in Chicago can grab a midweek pick-me-up on us, enjoy a quiet place to study and work and get connected to personal and professional development resources.

    The Total Spark launch is the latest social impact program under the new Value Cares platform, which reinforces the Verizon Value segment’s focus of empowering communities with the reliable connectivity they need to thrive. Total Spark launched following the success of Visible and its award-winning impact program, Connection Protection, where individuals who experience job loss can receive three months of service with costs covered by Visible and get connected to additional career services support, also provided by Empower Work’s text-line.

    “We’re thrilled to build on the success of the Visible Connection Protection program by launching Total Spark,” Jaime-Alexis Fowler, Founder and Executive Director at Empower Work said. “Empower Work exists to help address these very gaps and concerns of today’s diverse workforce – students included. Now through Total Spark, we’re helping to scale support for this population in a moment where it is most needed.”

    For more information on Total Spark and forthcoming programs with its partners, go to https://www.totalwireless.com/total-spark. Interested attendees may reserve a spot for the Total Career Spark Fair in Chicago on Friday, June 27 by signing up here: https://partiful.com/e/pqHAgV3DAi2etV67PFRG.


    [1]Total Wireless commissioned KRC Research to conduct a survey among U.S. adult students (n=1,004), including non-working students (n=200) and working students (n=804).​ The study was fielded between May 9-15, 2025.

    MIL OSI Global Banks

  • MIL-OSI Banking: Japan gives CHF 105,000 to support trade capacity-building in developing economies

    Source: World Trade Organization

    The Global Trust Fund finances trade-related technical assistance in areas such as market access, trade facilitation, services and agriculture. The objective is to help participants better understand WTO agreements and participate more effectively in global trade negotiations.

    WTO Director-General Ngozi Okonjo-Iweala said: “We are grateful for Japan’s continued partnership, which reflects its longstanding commitment to supporting the multilateral trading system and capacity-building efforts for developing countries and LDCs. This contribution will help officials enhance their skills to better support their economies’ effective participation in global trade and to leverage international markets in pursuit of new opportunities for sustainable growth and job creation.”

    Japan’s Ambassador and Deputy Permanent Representative to the WTO, Mr. Naoki Hikota, said: “Japan’s long-standing support for the Global Trust Fund reflects our firm belief in the essential role the rules-based multilateral trading system plays in providing stability, predictability, and inclusive growth. By contributing to technical assistance and capacity-building, we aim to strengthen the ability of developing and least-developed country Members to implement the WTO Agreements and thereby support their complementing policies for sustainable development. It is our strong conviction that expanding their capacity to fully participate in the multilateral trading system will create more opportunities to reap the benefits of global trade.”

    Since 2002, Japan has contributed over CHF 12.8 million to the WTO Global Trust Fund and other WTO trust funds.

    MIL OSI Global Banks

  • MIL-OSI USA: Reps. Cleaver, Davids Demand Answers on Lack of Funding for Freedom’s Frontier National Heritage Area

    Source: United States House of Representatives – Congressman Emanuel Cleaver II (5th District Missouri)

    The federal funding for National Heritage Areas was signed into law by President Trump in March but has not been delivered, with no explanation

    (Washington, D.C.) – U.S. Representatives Emanuel Cleaver, II (D-MO) and Sharice Davids (D-KS) have called on the Trump Administration to immediately release long-overdue funding for National Heritage Areas (NHAs), which preserve local history, create jobs, and drive tourism across the country.

    Despite being signed into law in March, federal funding for NHAs — including the Freedom’s Frontier National Heritage Area (FFNHA) in western Missouri and eastern Kansas — still hasn’t been delivered. As a result, local sites are struggling to keep staff employed, preserve historic landmarks, and continue educational programs that serve thousands of visitors and students each year.

    “NHAs contribute billions to the U.S. economy annually and support hundreds of thousands of jobs, leveraging each dollar of federal funding into more than $5 of nonfederal resources,” the lawmakers wrote. “For example, FFNHA provided 61 percent of its FY24 income from nonfederal sources. Our nation’s 62 NHAs provide an excellent and sustainable model of economic development at little cost to the federal government. This delay in funding is causing significant strain on our NHAs – many of which rely on small staffs and robust volunteer networks; annual NPS appropriations are critical to attracting private donations, planning grants and historic preservation efforts, and executing educational opportunities.”

    “We respectfully request that you quickly provide us with a timeline as to when FY25 appropriations for NHAs will be processed and work to execute these funding awards as soon as possible,” the lawmakers concluded.

    NHAs are public-private partnerships that highlight culturally significant regions across the U.S., from Civil War battlefields to Indigenous heritage sites. Each federal dollar invested generates over $5 in private and local support. Without this timely funding, programs grind to a halt and community-driven preservation work suffers.

    Established in 2006, the FFNHA is one of 55 National Heritage Areas throughout the United States. FFNHA tells the stories and builds awareness of western Missouri and eastern Kansas’ past, present, and future, including stories of American settlement of the western frontier, Bleeding Kansas and the Civil War, Brown v. Board of Education, and significant figures in our nation’s history such as President Harry Truman, Amelia Earhart, and the Native tribes of the Great Plains. 

    The FFNHA supports and promotes roughly 323 partners, including historic sites, museums, historical societies, libraries, and other cultural-heritage tourism destinations in 41 counties across the Missouri-Kansas border.

    Some notable FFNHA partners in the Fifth Congressional District of Missouri include the Negro Leagues Baseball Museum, Truman Presidential Library, American Jazz Museum, the National WWI Museum and Memorial, and more.

    Some notable FFNHA partners in the Third Congressional District of Kansas include Old Quindaro Museum, John Brown Museum, Kansas City Area Historic Trails Association, Kaw Point Park, Louisburg Historical Society, and more.

    The official letter from Reps. Cleaver and Davids is available here.

     

    Emanuel Cleaver, II is the U.S. Representative for Missouri’s Fifth Congressional District, which includes Kansas City, Independence, Lee’s Summit, Raytown, Grandview, Sugar Creek, Greenwood, Blue Springs, North Kansas City, Gladstone, and Claycomo. He is a member of the exclusive House Financial Services Committee and Ranking Member of the House Subcommittee on Housing and Insurance.

    MIL OSI USA News

  • MIL-OSI: BitMart Unleashes Futures King Trading Tournament: $232,000 USDT Up for Grabs in Summer Showdown

    Source: GlobeNewswire (MIL-OSI)

    Mahe, Seychelles , June 16, 2025 (GLOBE NEWSWIRE) — BitMart, a leading global cryptocurrency exchange, has launched the Futures King Trading Tournament, an electrifying summer event where futures traders have the opportunity to share in a staggering $232,000 USDT prize pool. Running from June 12 to July 9, 2025 (UTC), this trading tournament is set to heat up the crypto scene with daily, weekly, and monthly reward opportunities for traders of all levels.

    Get Rewarded Just for Showing Up – Sunshine Award
    Participants who register and trade at least 1,000 USDT in futures are guaranteed a reward opportunity through the Sunshine Award, with blind box bonuses of up to 100 USDT. With a dedicated prize pool of 50,000 USDT, this is BitMart’s way of welcoming all traders to the competition.

    Leaderboards That Pay – Multiple Paths to Earn Bonuses
    The Futures King Trading Tournament features multiple leaderboard categories designed to reward performance, consistency, and strategy. With generous bonus pools available, traders have several ways to earn throughout the event:

    • Daily Trading Rank: Participants who trade 30,000 USDT or more in a single day can enter the daily leaderboard. Top traders may receive up to 225 USDT per day, with a total of 6,300 USDT distributed over the campaign.
    • Weekly Trading Rank: By reaching a weekly trading volume of 100,000 USDT or more, traders become eligible for the weekly leaderboard rewards. Depending on total activity, the weekly bonus pool can reach as high as 42,000 USDT.
    • Monthly Trading Rank: Those who trade at least 200,000 USDT during the campaign can qualify for monthly rewards. The monthly prize pool may reach up to 68,600 USDT, offering top performers significant bonus potential.
    • Monthly ROI Rank: For traders focused on returns, the ROI leaderboard highlights those with 10,000 USDT in volume and a positive ROI. The top reward opportunities extend up to 5,880 USDT.

    Exclusive Bonus for VIP Climbers
    BitMart is also offering a VIP Tier Upgrade Bonus during the event. Traders who level up their VIP status through futures activity can claim additional rewards of 100–200 USDT bonus, credited as a futures trading bonus.

    How to Join

    1. Head over to the official event page.
    2. Click [Join Now] to register.
    3. Start trading futures — USDT-M, Coin-M, or via Copy Trading — to qualify.

    Participation in this campaign is subject to terms and conditions. Restrictions apply in certain countries and regions.

    About BitMart
    BitMart is the premier global digital asset trading platform. With millions of users worldwide and ranked among the top crypto exchanges on CoinGecko, it currently offers 1,700+ trading pairs with competitive trading fees. Constantly evolving and growing, BitMart is interested in crypto’s potential to drive innovation and promote financial inclusion. To learn more about BitMart, visit their Website, follow their X (Twitter), or join their Telegram for updates, news, and promotions. Download BitMart App to trade anytime, anywhere.

    Disclaimer: Use of BitMart services is entirely at your own risk. All crypto investments, including earnings, are highly speculative in nature and involve substantial risk of loss. Past, hypothetical, or simulated performance is not necessarily indicative of future results. The value of digital currencies can go up or down and there can be a substantial risk in buying, selling, holding, or trading digital currencies. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment objectives, financial circumstances, and risk tolerance. BitMart does not provide any investment, legal, or tax advice.

    The MIL Network

  • MIL-OSI: Meriwest Credit Union Celebrates Sixth Consecutive Year as 2025 Best Place to Work

    Source: GlobeNewswire (MIL-OSI)

    SILICON VALLEY, Calif., June 16, 2025 (GLOBE NEWSWIRE) — Meriwest Credit Union has been honored as a 2025 Best Place to Work by the San Francisco Business Times and Silicon Valley Business Journal, achieving this distinguished award for the sixth consecutive year. This recognition, made as part of the annual survey conducted by the two publications and based on exceptional employee survey scores, celebrates organizations that excel in creating dynamic, employee-centric cultures.

    Meriwest Credit Union has consistently demonstrated its commitment to building a workplace that champions teamwork, innovation, and employee support. This six-year streak underscores the credit union’s focus on fostering an environment where employees thrive through professional development opportunities, wellness initiatives, and a collaborative spirit.

    “Being recognized as a Best Place to Work for the sixth consecutive year is a tremendous honor,” said Lisa Pesta, President and CEO of Meriwest Credit Union. “This achievement is a testament to the passion and commitment of our exceptional team, whose dedication to our mission continues to make Meriwest a dynamic and rewarding place to build a career.”

    Rooted in its core philosophy of ‘People Helping People,’ Meriwest Credit Union continues to lead the financial services industry by prioritizing employee satisfaction, member-focused solutions, and meaningful community impact. This recognition reinforces Meriwest’s position as a trailblazer in delivering exceptional financial services while nurturing a workplace that inspires excellence.

    Meriwest Credit Union

    Founded in San Jose, California in 1961, Meriwest Credit Union ($2.1B in assets) is among Silicon Valley’s most established financial institutions. Dedicated to delivering advice-based, personal, convenient, and innovative financial services to over 80,000 families and businesses throughout the San Francisco Bay Area and Pima County, Arizona, Meriwest offers a wide array of personal banking, business services, mortgage, and wealth advisory services. Meriwest has been voted one of the ‘Best Credit Unions in Silicon Valley’ in the Mercury News’ Annual ‘Readers’ Choice Awards’ and a “Best Place to Work” by the Silicon Valley Business Journal for the last 5 years in a row. More information can be found at www.meriwest.com.

    Media Contact:
    Jeffrey Zane
    Meriwest Credit Union
    Public Relations
    408-612-1484
    jzane@meriwest.com

    The MIL Network

  • MIL-OSI United Nations: Civil Society Organizations Brief the Committee on the Elimination of Discrimination against Women on the Situation of Women in Mexico, Thailand, Ireland, Kazakhstan, Paraguay, Poland and Republic of Moldova

    Source: United Nations – Geneva

    The Committee on the Elimination of Discrimination against Women was this afternoon briefed by representatives of civil society organizations on the situation of women’s rights in Mexico, Thailand and Ireland, the reports of which the Committee will review this week, and in Kazakhstan, Paraguay, Poland and the Republic of Moldova, the reports of which had been scheduled for consideration in the cancelled ninety-third pre-sessional Working Group.

    In relation to Mexico, speakers raised concerns regarding disappearances and abductions of women; gender-based violence and its impact on marginalised women; and legislative issues affecting women, including related to abortion, sex work, surrogacy and homicide.

    Non-governmental organizations speaking on Ireland raised topics including the lack of access of marginalised women, including Roma and Traveller women, to State services; the high prevalence of gender-based violence; discrimination against migrant women; and overcrowding in women’s prisons.

    On Thailand, speakers addressed discrimination against marginalised women, including lesbian, bisexual, transgender and intersex women; the negative effects of mining projects on indigenous women and girls; gender-based violence; and discrimination against women and girls with disabilities.

    The following non-governmental organizations spoke on Mexico: Alianza por los derechos de las mujeres y niñas en toda su diversidad; GAMAG & Laboratorio Feminista de Derechos Digitales; Alianza de Mujeres Indígenas de Centroamérica y México, y Mujeres afromexicanas; and Mujeres defensoras y periodistas.

    The Human Rights Commissioner of the National Human Rights Commission of Ireland spoke on the country, as did the National Women’s Council of Ireland; Immigrant Council of Ireland/NASC/Akidwa; Traveler and Roma Coalition; Beyond Surviving; Irish Penal Reform Trust; University of Galway; and Disabled Women Ireland.

    As for Thailand, the Chairperson of the National Human Rights Commission of Thailand spoke, as did the following non-governmental organizations: Protection International; PPM, Khon Rak Ban Kerd Dan Khun Thot Group; Civil Society Assembly for Peace; Indigenous Women’s Network of Thailand; Young Pride Foundation and Asia Pacific Transgender Network; Foundation of Transgender Alliance for Human Rights and World Coalition against the Death Penalty; Shero Thailand; and Association for the Empowerment of Women with Disabilities.

    Speaking on the Republic of Moldova were Amnesty International; Eurasian Harm Reduction Association; and a coalition of women-led organizations including Eurasian Women’s Network on AIDS and NGO Association for Creative Development of Personality.

    Speaking on Kazakhstan was Equality Now; while the Centre for Reproductive Rights spoke on Poland, and Amnesty International spoke on Paraguay.

    There were no speakers present to discuss Angola, Comoros and Guinea-Bissau, the reports of which had also been scheduled for consideration in the cancelled ninety-third pre-sessional Working Group.

    The Committee’s ninety-first session is being held from 16 June to 4 July.  All documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage.  Meeting summary releases can be found here.  The webcast of the Committee’s public meetings can be accessed via the UN Web TV webpage.

    The Committee will next meet in public at 3 p.m. on Tuesday, 17 June to consider the tenth periodic report of Mexico (CEDAW/C/MEX/10).

    Opening Remarks by the Committee Chair

    NAHLA HAIDAR, Committee Chairperson, said this meeting was an opportunity for non-governmental organizations and national human rights institutions to provide information on the States parties that were being considered this week, as well as on reports that had been scheduled for consideration in the cancelled ninety-third pre-sessional Working Group, namely those of Angola, Comoros, Guinea-Bissau, Kazakhstan, Paraguay, Poland and the Republic of Moldova.  She noted that the adoption of a list of issues and questions in relation to the combined third and fourth periodic reports of Syria, also initially scheduled for the pre-sessional Working Group, had been postponed.

    Statements by Non-Governmental Organizations from Mexico, Thailand and Ireland

    Mexico

    Concerning Mexico, speakers, among other things, expressed concern about the growing militarisation of the country, which disproportionately affected indigenous, rural marginalised women, as well as about disappearances of women, which were linked to trafficking in persons and femicide. 

    Speakers also expressed concern about gender-based violence, particularly against Afro-descendant women, human rights defenders, and young people.  More than one million Afro-descendant women were facing violence in Mexico, one speaker said, with some 57 per cent having faced some form of sexual violence.  Persons searching for the disappeared were particularly at risk; at least 16 had been killed, and there was impunity for crimes against human rights defenders. Key support for these people, such as refuge and shelter, had been denied.

    Speakers also raised issues related to Mexican legislation, noting that abortion was still regulated by criminal law; that legislative reforms had been made to criminalise sex work; that surrogacy remained legal in 12 states; and that homicide against trans women was not recognised as trans femicide.

    Speakers called on the Committee to encourage Mexico to recognise women human rights defenders; eliminate the crime of abortion; address trafficking of women; take measures to protect vulnerable women; harmonise legislation on violence against women; introduce regulations on digital violence and measures to combat violence against women in the media; release human rights defenders who had been imprisoned; and strengthen protection systems with a gender-based perspective.

    Ireland

    Those speaking on Ireland said, among other things, that deep and systemic barriers affected the access of marginalised women, including Roma and Traveller women, to childcare, abortion, employment, education, housing and healthcare.  These women needed to be supported by targeted policies.  Minority women were severely underrepresented in politics, continued to be over-represented in the criminal justice system, and faced barriers in accessing child benefits.  The State needed to collect ethnic data to inform support policies for minorities, and there needed to be dedicated funding for policies for women, developed in cooperation with women’s organizations. The bill to amend equality legislation needed to be rejected immediately, as it threatened the rights of marginalised women.

    Ireland lacked targeted measures for women with disabilities, one speaker said.  There was systemic discrimination against women with disabilities in work and healthcare; this needed to be addressed.

    Speakers also expressed concern about the high prevalence of gender-based violence in Ireland. Interventions were needed to strengthen the justice system related to such violence.  Ireland disclosed counselling notes in sexual offence trials; it needed to cease this act of secondary discrimination.  The proposed amendment to the law in this regard would exacerbate harm.

    Speakers said migrant women faced significant discrimination in Ireland, including in employment and education opportunities, medical care and housing.  There was no entitlement to legal aid for migrant women; women asylum seekers could not access the labour market, and migrant women were disproportionately represented in the informal sector.  One speaker noted that 7,000 women in Ireland were affected by female genital mutilation, but there was no State strategy to combat female genital mutilation.  There needed to be a dedicated national action plan to address the phenomenon.

    Overcrowding in Irish prisons was at a crisis point, one speaker said, with the two women’s prisons far over capacity. There was a record number of women with babies in prisons.  The Government had not made efforts to establish an open women’s prison; this needed to be done.  It also needed to guarantee investigations into Magdalene Laundries abuses, undocumented deaths, and forced family separation.  There needed to be a timeframe for the full implementation of the redress scheme.

    Thailand

    Concerning Thailand, speakers said, among other things, that marginalised women, including refugees, trans and gender-diverse women, continued to face discrimination and a lack of access to services.  Some 70 per cent of lesbian, gay, bisexual, transgender and intersex persons had experienced depression.  The Government needed to strengthen the implementation of the gender equality act and address the marginalisation of lesbian, gay, bisexual, transgender and intersex persons. 

    Mining projects were destroying the lifestyles and livelihoods of indigenous women and girls in Thailand and poisoning the State’s rivers.  Royal decrees issued in 2024 severely undermined indigenous women’s rights, limiting land access and traditional farming practices.  The Committee needed to call on the Government to review and amend these decrees, and to protect indigenous women’s rights and the environment.

    Some five per cent of death row inmates in Thailand were women, one speaker said.  The Committee needed to urge the State party to implement a moratorium on the death penalty for non-violent offences.

    Speakers said Thailand needed to urgently reform its laws on gender-based violence to clearly define consent and cases where mediation was appropriate; stop criminalising survivors of gender-based violence; make ending all forms of gender-based violence a national priority; and ensure protection for all survivors.

    More than one million women and girls with disabilities in Thailand remained invisible, one speaker said. They still faced sterilisation, violence and abuse, and police rarely recorded the complaints of women with disabilities.  The Government needed to outlaw forced sterilisation, ensure the representation of women with disabilities in politics and decision-making bodies, and adopt measures to guarantee procedural accommodation for women with disabilities in justice processes.

    Questions by Committee Experts

    A Committee Expert called for recommendations of quotas for representation of Thai women in Parliament.

    Another Expert said pre-trial detention was being weaponised in Mexico.  The suspension of the writ of habeas corpus seemed to have led to the deliberate imposition of lengthy pre-trial detention.  Did the non-governmental organizations have a position on this?

    One Committee Expert asked about the familial rights of lesbian, gay, bisexual, transgender and intersex persons in Ireland.  Was there a norm on shared physical custody?

    A Committee Expert asked about reports of the use of unofficial pre-trial detention in Mexico.

    One Committee Expert asked whether trafficked women were offered exit programmes that promoted social empowerment in Mexico.  How was Ireland implementing the Istanbul Convention, including related to restrictions on abortion?

    Responses by Non-Governmental Organizations

    Mexico

    Responding to questions on Mexico, speakers said that “automatic” pre-trial detention implemented in the State was a violation of liberty that disproportionately affected women.  The number of offences for which automatic pre-trial detention was imposed had been broadened recently.

    The criminalisation of victims of trafficking severely affected women’s rights.  Most victims were young girls.  There was a lack of training for officials charged with identifying and protecting victims.  There was a link to disappearances and abduction of women and girls and trafficking, which had been taken over by organised crime.  There needed to be regulation to address the sexual exploitation of women.

    Ireland

    A speaker said there were huge challenges in accessing child maintenance in Ireland.  There had been no progress in establishing a child maintenance agency. Roma women who did not comply with habitual residency laws had no access to child benefits.

    Only one Traveller woman had been elected to the national parliament.  More needed to be done to increase their representation. 

    There were almost 250 Irish women who travelled to the United Kingdom each year to access abortions.  Irish women still faced significant challenges in accessing abortions.  There needed to be political will to implement the conclusions of the independent review into access to abortion.

    Ireland had a national strategy on preventing gender-based violence and domestic violence, but this strategy did not address female genital mutilation.  A plan needed to be implemented to address this issue.

    Thailand

    Responding to questions on Thailand, a speaker said there was low representation of women from rural and marginalised communities on political bodies.  No females had been elected to parliament.  There was a lack of laws addressing discrimination against women with disabilities.

    Women human rights defenders often faced strategic lawsuits against public participation in Thailand, and the State did not have legislation on hate crimes.  Many human rights defenders faced harassment online and needed protection.

    Statements by Non-Governmental Organizations from Kazakhstan, Republic of Moldova, Poland and Paraguay

     

    Kazakhstan

    On Kazakhstan, speakers expressed concern about laws and practices that failed to sufficiently address gender-based violence and sexual violence.  Rape was only recognised by State legislation when it involved physical force.  There were significant barriers to investigating sexual violence, and as a result, few cases reached the justice system. Women with disabilities often faced sexual violence and discrimination.  Support services for survivors of sexual violence remained inadequate; hotlines for reporting and shelters needed to be strengthened.

    Republic of Moldova

    Speakers said that the Republic of Moldova’s legal system lacked provisions to address all forms of gender-based violence, leading to inconsistent interpretation of the law, which needed to be amended in line with the Istanbul Convention.  There was insufficient protection for victims. Sanctions needed to be issued for perpetrators of domestic violence.

    It was concerning that the provision of abortion services via telemedicine had been banned, one speaker said. This ban was implemented without consultation with civil society or medical professionals.  The Government needed to repeal the ban and ensure access to abortion services for all women.  It also needed to amend legislation to decriminalise sex work and implement measures to protect sex workers from discrimination.

    The Republic of Moldova’s low thresholds for small-scale use of illegal drugs led to the criminalisation of women drug users, perpetuating stigma against such women.  Pregnant women who used drugs were often denied access to healthcare, and social workers often initiated child protection proceedings for the children of women who used drugs.  The Committee needed to ask the Republic of Moldova how it would protect the rights of women drug users.

    Women with HIV faced violence and discrimination every day in the Republic of Moldova, one speaker said. Many such women often did not report abuse for fear of stigmatisation.  The law criminalised HIV infection and prevented women with HIV from breastfeeding.  The Government needed to decriminalise HIV infection and support women with HIV to access shelters, legal support and healthcare, protect their confidentiality, and ensure that their voices were heard.

    Poland

    On Poland, a speaker said that the State’s abortion law prevented women from accessing safe and legal abortions. There was a near-total ban on abortion in place, and women were often compelled to travel abroad for abortive care. Legislative proposals seeking to reintroduce access to legal abortion were pending review, while guidelines on access to legal abortions had been developed but had not been sufficiently distributed.  The Committee needed to ensure that the State party guaranteed the right to abortion and health care for women.

    Paraguay

    On Paraguay, a speaker expressed concern at the high rate of teenage pregnancies and sexual violence against women and girls.  There was an almost total ban on abortion, even in cases where the pregnancy was the result of rape.  There was also a lack of comprehensive sexual and reproductive health education in schools. There was a high level of maternal mortality; the State needed to strengthen primary health care.

    Paraguay needed to invest more in public health, the speaker said.  It was one of the most expensive countries in the world to fall sick.  The high cost of healthcare disproportionately affected certain groups, such as those with cancer.  The State party needed to improve the availability of medicines. In April 2025, a bill was brought before the Senate that sought to merge the Ministry of Women into the Ministry of the Family; this bill needed to be rejected.

    Dialogue with the National Human Rights Institutions of Ireland and Thailand

    Statement by the National Human Rights Institution of Ireland

    LIAM HERRICK, Chief Commissioner, Irish Human Rights and Equality Commission, expressed concern about Ireland’s continuing and outstanding failures to effectively vindicate the rights of women and girls at the national level.  Women and girls in Ireland continued to face discrimination at every stage of life.  The State’s approach to domestic implementation of Convention rights fell far short of what would be expected of a wealthy, democratic nation.

    Ireland faced challenges, including transforming the childcare and care sectors, closing the gender pay and pension gap, supporting more women leaders, and reforming the outdated patriarchal system of the male breadwinner, which held society back.

    Violence against women, including femicide, remained at crisis levels in Ireland.  The State was obliged to do everything in its power to keep women and girls safe in communities and in homes.  The lack of adequate supports and refuge spaces for victims and survivors of gender-based violence and human trafficking was a major concern, especially as these were the main cause of homelessness for women and children in Ireland. The State needed to significantly scale up the provision of culturally appropriate, universally designed refuge accommodation units and provide guidance to local authorities on supporting victims and survivors seeking emergency accommodation and social housing.

    Regarding women in politics, progress in Ireland was worryingly slow.  Ireland was currently 99th in the world for women’s representation in national parliaments and 96th in the world for women cabinet ministers.  A third of the 43 parliamentary constituencies had no women as representatives.  Only one woman from an ethnic minority background was elected to Parliament in the recent election.  Robust reforms at local political level, including the introduction of 50 per cent gender quotas, were vital.

    Political leaders had repeatedly apologised for these failures and promised redress for victims and survivors of abuse within Mother and Baby Institutions, Magdalene Laundries, schools, residential institutions and to survivors of the practice of symphysiotomy. However, the State continued to fail to adequately implement the 2014 O’Keeffe judgment.  It needed to establish a new comprehensive, fair and non-discriminatory redress scheme for survivors of child sexual abuse in primary and post-primary schools before 1991/1992.

    Inadequate funding threatened the work of civil society in protecting women’s rights in Ireland.  Civil society organizations needed adequate support. The State also needed to place greater focus on the intersectional nature of issues affecting women and minority groups.  Women’s and girls’ rights were crucial for an integrated, harmonious and thriving society, based on equality and the rule of law.  Never had it been so urgent for Ireland, as a wealthy, leading European Nation, to take decisive action to fulfil its obligations under the Convention.

    Questions by Committee Experts

    A Committee Expert asked how to ensure that all constituencies in Ireland had women representatives.

    Another Committee Expert asked about the representation of women in the Irish Ministry of Foreign Affairs, and the achievements of women in the State’s foreign and policy affairs. 

    One Committee Expert asked about specific quotas that were needed to promote the representation of Roma, women with disabilities and other marginalised women in public life in Ireland.

    A Committee Expert asked about the threat to the Good Friday Agreement posed by the withdrawal of the United Kingdom from the European Union.

    Responses by the National Human Rights Institution

    LIAM HERRICK, Chief Commissioner, Irish Human Rights and Equality Commission, said that all political parties needed to increase their share of women candidates to 50 per cent.  This was particularly important at the local level. 

    A significant number of Irish women held leading positions within the international human rights system. However, there had never been an Irish woman head of Government, and there was a lack of representation of women in senior Government positions.  The national human rights institution had made recommendations for addressing hate speech against minorities, including Roma women.

    Specific provisions were drawn into the United Kingdom’s agreement on withdrawal from the European Union that promoted equivalence with established legal measures such as the Good Friday Agreement.

    Statement by the National Human Rights Institution of Thailand

    PORNPRAPAI GANJANARINTR, Chairperson, National Human Rights Commission of Thailand, said the Commission recognised Thailand’s progress in many areas, including the legal reform to raise the minimum age of marriage to 18, broadening access to safe abortion services, and the Government’s success in amending laws on gender equality and domestic violence victim protection.

    The current Constitution of Thailand guaranteed gender equality, but challenges still remained. One key concern was the persistence of gender bias, both in societal attitudes toward women, and in how women perceived their own roles.  Moreover, Thailand had yet to enact a comprehensive law to eliminate discrimination, a critical gap in the legal framework.

    Domestic violence was also a serious concern.  Despite the domestic violence victim protection act, women remained unprotected. The law mainly focused on mediation, which could pressure women to return to abusers instead of seeking justice. In the southern region, men-led community mediation could also result in biased outcomes.  Cultural norms, financial dependence, lack of education, and fear of legal consequences made it harder for women, especially vulnerable groups such as illegal migrant women, to leave.  Legal reforms were needed to make domestic violence a non-compoundable offence, extend the statute of limitations, and introduce offenders’ rehabilitation. Policies needed to focus on protecting victims’ rights, safety, and dignity, rather than forcing families to stay together.

    The Criminal Code did not cover new forms of harassment, such as stalking and online grooming.  Current labour laws only protected against harassment from supervisors, not co-workers. The Criminal Code needed to be reformed to include modern forms of harassment, expand workplace protection, and ensure victim-centred investigation.

    Women often faced barriers when seeking justice.  It was crucial to recruit more female inquiry officers as, at present, they accounted for only 6.5 per cent of the total number.  There were reports of unacceptable conduct by law enforcement, including offensive language and insensitive investigations. Gender-sensitivity training for law enforcement officers, private and gender-friendly complaint facilities, as well as accessible procedures for persons with disabilities were essential.

    Sex work was still illegal, leaving sex workers without labour protection or social welfare, and making them targets for abuse, even by authorities.  Some offences had been changed to non-criminal fines, but many officers still made unlawful arrests.  Sex work needed to be decriminalised to protect the rights and dignity of sex workers.

    Although Thailand had made progress in maternal health, many women still had problems accessing reproductive rights.  Safe abortion services were limited due to a lack of providers and poor referral systems. Pregnant inmates faced delays in counselling and abortion referrals.  Moreover, many women were unaware of their rights.  To address this, the Government needed to ensure that every province had at least one facility offering abortion services, and remove barriers beyond those set out by the law.  Public education on abortion rights and support mechanisms needed to also be promoted.

    The Commission was deeply concerned about the continued violence in Thailand’s southern border provinces, which greatly affected women.  Many had lost their partners, suffered emotional and financial hardship, and struggled to access justice or compensation.  Women were often left out of peace talks, and those who spoke up could face threats.  The Government needed to fully support affected women by providing financial aid, counselling, and childcare.  Rules and regulations that excluded families of those accused in security cases needed to be revised.  Women needed to have a real voice in peacebuilding, religious councils, and efforts to stop domestic and gender-based violence.

    Child marriage remained a serious issue in the southern border provinces.  Although the 2018 change to the Nikah regulation was a step forward, it had not been well enforced or updated to match the new law setting the minimum marriage age at 18.  The Commission called for the regulation to be revised to align with the Convention, and for strong action to ensure its implementation.

    Women human rights defenders continued to face serious risks, including harassment, lawsuits, and surveillance.  Some had even been targeted by disinformation and spyware like Pegasus.  There needed to be legal reforms to ban strategic lawsuits against public participation and stronger awareness raising among justice officials and businesses about the harmful impact of these lawsuits. 

    Women in rural areas were hit hard by climate change but were often excluded from decision-making processes.  Current disaster and climate policies lacked a gender perspective.  At the same time, cybercrime severely affected women, who made up 64 per cent of victims from 2022 to 2024, while legal protections remained weak.  The Government needed to include gender perspectives in environmental policy and women’s voices in climate decisions, and strengthen laws to better prevent and respond to cyber violence against women.

    Thailand had made good progress in meeting its commitments under the Convention. However, the Commission encouraged continued efforts to bring about real gender equality through stronger legal alignment, structural reforms, and the removal of remaining biased practices.

    Question by a Committee Expert

    A Committee Expert said Thailand’s legislation on statelessness was not in line with international standards. Were there any initiatives to reform this legislation?

    Responses by the National Human Rights Institution

    PORNPRAPAI GANJANARINTR, Chairperson, National Human Rights Commission of Thailand, said the Government had announced that there would be an amendment to the law on statelessness some years ago, but this process was still ongoing. Earlier this year, the Government had worked to identify 100,000 stateless people.  There needed to be further recognition of stateless people in Thailand. The Commission would continue to push for all stateless persons to be supported to obtain all necessary documents.

    ___________

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

     

    CEDAW25.012E

    MIL OSI United Nations News

  • MIL-OSI Asia-Pac: Invest Hong Kong fosters mutual engagement through successful delegations to Gulf Cooperation Council region (with photos)

    Source: Hong Kong Government special administrative region

    Invest Hong Kong fosters mutual engagement through successful delegations to Gulf Cooperation Council region
         The delegation comprised leaders from prominent financial services and fintech companies, founded locally, in Mainland China or overseas with operations in Hong Kong. They participated in high-level strategic meetings with senior management of local government organisations, chambers of commerce, sovereign wealth funds, private equity partners and tech incubators, facilitated by InvestHK.

         The Director-General of Investment Promotion at InvestHK, Ms Alpha Lau, said, “In today’s evolving global economy, Hong Kong has showcased its irreplaceable strategic value as a ‘super connector’. Our city’s unique advantage lies in its ability to effectively connect the East with the West and the Global South. At InvestHK, we are continuously strengthening our core role in facilitating business connectivity, with a firm commitment to delivering value-added services to Mainland and overseas companies looking to establish themselves in Hong Kong and expand globally. We recognise opportunities in high-potential markets, such as the GCC region, which are actively diversifying their economies through innovations. By partnering with InvestHK, companies can effectively access these competitive markets with the government support.”   

         Bridging markets and transforming outcomes: turning vision into action

         The Global Head of Financial Services, FinTech & Sustainability at InvestHK, Mr King Leung, added, “Our support for the delegation was very results driven, opening essential government-to-government (G2G) and business-to-business doors for them. Leveraging our in-depth understanding of each participating company, we successfully showcased Hong Kong as an efficient platform for connecting high-quality enterprises, earning broad recognition from local governments, businesses, and investors across the GCC region. This growing collaboration and trust are built on aligning the right expertise, the right people, and the right connectors. Together, we are creating meaningful bridges that transform relationships into tangible business outcomes.”

         Over the past two years, companies such as EvidentGroup, LianLian Global, Lingfeng Capital, OneDegree, 4Paradigm, Libertify and more participated in the delegations. Delegates acknowledged that remarkable results would not have been possible without opportunities and connections provided by the Hong Kong Special Administrative Region (HKSAR) Government.

         For Evident Group, a highlight was an MOU signing with Zand Bank, the UAE’s AI-powered bank, licensed by the Central Bank of the UAE, which Evident first connected with during last year’s delegation visit. The MOU signifies a commitment to develop a strategic collaboration, aimed at delivering innovative alternative investment solutions for Zand Bank’s private wealth clients. The goal is to leverage Evident’s secure, cutting-edge digital market infrastructure to facilitate access to alternative investments such as private equity secondaries, private credit, and tokenised infrastructure. This collaboration pioneers a new model, demonstrating how the digitalisation of private markets enhances Hong Kong’s role in linking global private wealth with unique investment opportunities.

         LianLian Global regards Hong Kong as a key hub for expanding its global ecosystem, particularly in the GCC region. Through InvestHK delegations, it forged key G2G ties, most notably with the Central Bank of the UAE, unlocking strategic opportunities in the region. At the Dubai FinTech Summit, LianLian reached a cooperation agreement with Lulu Money to extend its payment gateway services into Mainland China. Leveraging Hong Kong as a fund hub, it also addressed cross-border trade challenges between China and the Middle East and North Africa region. In one case, LianLian facilitated a procurement and payment solution for a company purchasing electric vehicles from China, streamlining transactions for both buyer and manufacturer.

         Lingfeng Capital has obtained its approved-in-principle from the Financial Services Regulatory Authority as a licensed fund manager in the UAE and established operations in Abu Dhabi as its regional headquarters after identifying opportunities during the first delegation visit last year. This year, Lingfeng Capital is further engaging with key partners and initiating the setup of a fund in Abu Dhabi to support portfolio companies from Hong Kong, Mainland and other international markets expanding into the GCC region.

         OneDegree has been recognised by GCC government officials for its industry-leading digital asset insurance offerings. Following an investment from Dubai Insurance, OneDegree is set to provide digital asset insurance in the UAE, having received approval from the Central Bank of the UAE through partnership with Dubai Insurance Co. In addition, Walaa is supplying reinsurance capital for OneDegree’s global digital asset book. A pivotal milestone was a private meeting with senior management of the Insurance Authority of Kingdom of Saudi Arabia during the delegation visit last year.

         Connecting the East with the West and the Global South

         The 2025 delegation led by InvestHK built on the solid foundation laid by the HKSAR Government officials during earlier trip to focus on driving tangible business results, further solidifying Hong Kong’s position as an outward-facing, globally connected economy. The success of these delegations reaffirms Hong Kong’s position as a “super connector” and “super value-adder” to the world, where innovation and strategic dialogue forge robust pathways for two-way economic growth. With tangible results achieved across sectors, InvestHK continues to empower enterprises to “go global” through Hong Kong. Looking ahead, these achievements will lay the foundation for transformative regional collaborations that will benefit Hong Kong and contribute to national policies supporting global trade and investment, further deepening international exchanges and co-operation.
    Issued at HKT 18:45

    NNNN

    MIL OSI Asia Pacific News

  • MIL-OSI USA: SBA Relief Still Available to North Carolina Small Businesses and Private Nonprofits Affected by Severe Storms and Flooding

    Source: United States Small Business Administration

    ATLANTA – The U.S. Small Business Administration (SBA) is reminding small businesses and most private nonprofit organizations in North Carolina of the July 15 deadline to apply for low interest federal disaster loans to offset economic losses caused by severe storms and flooding on Sept. 16-20, 2024.

    The disaster declaration covers the North Carolina counties of Brunswick, Columbus, New Hanover, and Pender as well as Horry in South Carolina.  

    Under this declaration, SBA’s Economic Injury Disaster Loan (EIDL) program is available to small businesses and PNPs providing non-critical services of a governmental nature impacted by financial losses directly related to the disaster. Example of eligible non-critical PNP organizations include, but are not limited to, food kitchens, homeless shelters, museums, libraries, community centers, schools, and colleges.

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

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

    The loan amount can be up to $2 million with interest rates of 4% for small businesses and 3.25% for private nonprofit organizations, and terms up to 30 years. The SBA determines eligibility based on the size of the applicant, type of activity and its financial resources. Loan amounts and terms are set by the SBA and are based on each applicant’s financial condition. These working capital loans may be used to pay fixed debts, payroll, accounts payable and other bills not paid due to a disaster.

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

    The deadline to return economic injury applications is July 15, 2025.

    ###

    About the U.S. Small Business Administration

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

    MIL OSI USA News

  • MIL-OSI Europe: Agenda – Wednesday, 18 June 2025 – Strasbourg

    Source: European Parliament

    51 Macro-financial assistance to Egypt
    Céline Imart (A10-0037/2025     – Amendments; rejection Monday, 16 June 2025, 20:00     – Requests for “separate”, “split” and “roll-call” votes Tuesday, 17 June 2025, 16:00 39 Adoption by the Union of the Agreement on the interpretation and application of the Energy Charter Treaty
    Anna Cavazzini, Borys Budka (A10-0009/2025     – Amendments; rejection Friday, 13 June 2025, 12:00 26 Implementation report on the Recovery and Resilience Facility
    Victor Negrescu, Siegfried Mureşan (A10-0098/2025     – Amendments Wednesday, 11 June 2025, 13:00 19 The Commission’s 2024 Rule of Law report
    Ana Catarina Mendes (A10-0100/2025     – Amendments by the rapporteur, 71 MEPs at least, Alternative motions for resolutions Wednesday, 11 June 2025, 13:00 25 2023 and 2024 reports on Montenegro
    Marjan Šarec (A10-0093/2025     – Amendments Wednesday, 11 June 2025, 13:00 17 2023 and 2024 reports on Moldova
    Sven Mikser (A10-0096/2025     – Amendments Wednesday, 11 June 2025, 13:00 38 Clean Industrial Deal
    (O-000020/2025 – B10-0006/25)      – Motions for resolutions Wednesday, 11 June 2025, 13:00     – Amendments to motions for resolutions; joint motions for resolutions Friday, 13 June 2025, 12:00     – Amendments to joint motions for resolutions Friday, 13 June 2025, 13:00 41 Electricity grids: the backbone of the EU energy system
    Anna Stürgkh (A10-0091/2025     – Amendments by the rapporteur, 71 MEPs at least, Alternative motions for resolutions Wednesday, 11 June 2025, 13:00 65 Media freedom in Georgia, particularly the case of Mzia Amaglobeli     – Motions for resolutions (Rule 150) Monday, 16 June 2025, 20:00     – Amendments to motions for resolutions; joint motions for resolutions (Rule 150) Wednesday, 18 June 2025, 13:00     – Amendments to joint motions for resolutions (Rule 150) Wednesday, 18 June 2025, 14:00 66 Case of Ahmadreza Jalali in Iran     – Motions for resolutions (Rule 150) Monday, 16 June 2025, 20:00     – Amendments to motions for resolutions; joint motions for resolutions (Rule 150) Wednesday, 18 June 2025, 13:00     – Amendments to joint motions for resolutions (Rule 150) Wednesday, 18 June 2025, 14:00 68 Dissolution of political parties and the crackdown on the opposition in Mali     – Motions for resolutions (Rule 150) Monday, 16 June 2025, 20:00     – Amendments to motions for resolutions; joint motions for resolutions (Rule 150) Wednesday, 18 June 2025, 13:00     – Amendments to joint motions for resolutions (Rule 150) Wednesday, 18 June 2025, 14:00 Separate votes – Split votes – Roll-call votes Texts put to the vote on Tuesday Friday, 13 June 2025, 12:00 Texts put to the vote on Wednesday Monday, 16 June 2025, 19:00 Texts put to the vote on Thursday Tuesday, 17 June 2025, 19:00 Motions for resolutions concerning debates on cases of breaches of human rights, democracy and the rule of law (Rule 150) Wednesday, 18 June 2025, 19:00

    MIL OSI Europe News

  • MIL-OSI Europe: Answer to a written question – Frontex director’s interview on the EU-Tunisia deal – E-000727/2025(ASW)

    Source: European Parliament

    Since the signature of the EU-Tunisia Strategic and Comprehensive Partnership (SCP)[1], tangible progress has been achieved across all areas of cooperation, including migration management.

    Human rights and democratic principles remain at the core of the EU’s external action, in line with Article 2 of the Association Agreement[2].

    These values are regularly reaffirmed through political and technical dialogue. The EU remains committed that its financial assistance is fully consistent with human rights obligations and reserves the right to invoke specific clauses in its agreements and contracts, enabling adjustments in cases of non-compliance.

    The Commission considers that increased actions by Tunisia against migrant smuggling, including the prevention of departures and the interception of vessels in its waters, as well as search and rescue operations to save lives at sea, have contributed to a consistent trend of reduction of arrivals from Tunisia since the implementation of the SCP and related support.

    According to information from the European Union Asylum Agency (EUAA)[3], as of October 2024, no Member State had applied the safe third country concept vis-a-vis Tunisia.

    The Commission has no information of transfers of non-Tunisian third-country nationals to Tunisia while an application for international protection in the EU was pending.

    • [1] https://ec.europa.eu/commission/presscorner/api/files/document/print/en/ip_23_3887/IP_23_3887_EN.pdf.
    • [2] https://eur-lex.europa.eu/eli/agree_internation/1998/238/oj/eng.
    • [3] See EUAA (2022): https://euaa.europa.eu/sites/default/files/publications/2022-12/2022_safe_country_concept_asylum_procedure_EN.pdf; EUAA: https://whoiswho.euaa.europa.eu/Pages/safe-country-concept.aspx — last updated on 4 October 2024.
    Last updated: 16 June 2025

    MIL OSI Europe News