Category: Entertainment

MIL-Evening Report: The incredible impact of Ozzy Osbourne, from Black Sabbath to Ozzfest to 30 years of retirement tours

Source: The Conversation (Au and NZ) – By Lachlan Goold, Senior Lecturer in Contemporary Music, University of the Sunshine Coast

Ozzy Osbourne photographed in London in 1991. Martyn Goodacre/Getty Images

Ozzy Osbourne, the “prince of darkness” and godfather of heavy metal, has died aged 76, just weeks after he reunited with Black Sabbath bandmates for a farewell concert in his hometown of Birmingham in England.

His family posted a brief message overnight: “It is with more sadness than mere words can convey that we have to report that our beloved Ozzy Osbourne has passed away this morning.”

John Michael Osbourne changed the sound of rock music and leaves behind a stellar career spanning six decades, numerous Grammy awards, multiple hall of fame inductions – and a wave of controversy.

An agent of change

In 1969, from the ashes of various bands, Geezer Butler (bass), Tony Iommi (guitar), Bill Ward (drums) and Osbourne formed the band Earth.

Realising the name was taken, they quickly changed their name to Black Sabbath, an homage to the 1963 Italian horror anthology film.

With the Summer of Love a recent memory, Black Sabbath were part of a heavy music revolution, providing an antidote to the free loving hippies of the late 60s period.

Despite making their first two albums cheaply, Black Sabbath, released in February 1970, and Paranoid, released September that same year, they were a global success.

Their approach was laden with sarcasm and irony. American audiences mistook this for satanic worship, positioning them as outsiders (albeit popular ones).

Black Sabbath pose for a group portrait with gold discs, London, 1973, L-R Bill Ward, Ozzy Osbourne, Tony Iommi, Geezer Butler.
Michael Putland/Getty Images

After Black Sabbath’s early successes, they were managed by the notorious Don Arden, whose daughter Sharon Levy was the receptionist. More than any musical bond Osbourne had in his life, Sharon would be the most influential character throughout his life.

Osbourne recorded eight albums with Black Sabbath (some to critical acclaim) and was then kicked out (by Sharon) due to his troubles with drugs and alcohol.

Ozzy solo

Osbourne’s solo career has always been managed by Sharon. While recording his second solo album, Diary of a Madman, guitarist Rhodes died in a tragic light plane crash. Osbourne was close to Rhodes and fell into a deep depression, after never having lost someone so close.

Sharon and Osbourne married only months after this incident. His struggle with drug use did not stop him from making further solo records alongside various guitar players, continuing with moderate success throughout his career.

On the road, Osbourne put the John Farnham’s last tour trope to shame.

He held his last ever gig more times than one can count with names like No More Tours (1992–93), Retirement Sucks (1995–96) and No More Tours 2 (2018–19).

Osbourne ‘retired’ many times over 30 years. Here he performs in California in 2022.
Kevork Djansezian/Getty Images

This lament for touring led to the most successful era of Osbourne’s career. After being rejected for the 1995 Lollapaloza festival bill, Sharon (and their son Jack) started Ozzfest; initially an annual two-day multiband festival headlined by Osbourne, held in Phoenix, Arizona, and Devore, California.

Subsequently becoming a national – and then international – tour, Ozzfest led to a successful partnership with MTV, which led to the reality TV show The Osbournes premiering in 2002. Here, his previous and ongoing battle with drugs was obvious, proudly on display – and ridiculed – to huge global audiences.

The spectacle of a rich rockstar and his family, featuring a constant barrage of swearing, battles with lavish TV remotes, canine therapy, never-ending chaos, and Osbourne constantly yelling “Sharrrooon” like a twisted maniacal loop of A Street Car Named Desire.

Struggles and controversies

Osbourne suffered multiple health conditions over the years, rarely concealing the state of his physical or mental wellbeing.

Notably he’s struggled with drug and alcohol abuse his whole career with drug recovery centres using Osbourne as an exemplar. In 2007 he disclosed he suffered from the Parkinson’s adjacent condition Parkinsonian syndrome. In 2019 he was diagnosed with Parkinson’s disease.

Black Sabbath photographed in the 1970s. Left to right: Geezer Butler, Tony Iommi, Bill Ward and Ozzy Osbourne.
Chris Walter/WireImage

This resulted in him being unable to walk for his final Back to the Beginning show in Birmingham on July 5 2025.

And Osbourne’s career had more than its fair share of controversy. He bit the head off a dove and a bat (celebrated with a commemorative toy), and urinated on the Alamo cenotaph. He was taken to court multiple times, but was never convicted.

Ozzy and me

As a white middle-class boy growing up in the Brisbane suburbs in the 80s, heavy metal music appealed to my testosterone and pimple filled body.

Exploring the secondhand record shops of Brisbane, I would’ve bought my first copy of Black Sabbath around 1985. The sound of thunder and a distant church bell before the first drop-D riff enters seemed like the antithesis to sunny Queensland and 80s pop.

As my life became obsessed with the recording studio and the vociferous music scene in Brisbane in the post-Joh era, and those drop-D riffs influenced a new style that swept the world in the early 90s.

Osbourne’s influence was huge and through grunge, his sound was reborn. Grunge was a marriage of the Sabbath-like drop-D riffs with the energy of punk and the melody of the Beatles.

Listening to Black Sabbath and Ozzy records, equipped me with a sonic palette ready to capture the wave of alternative music emmerging from the Brisbane scene.

While Ozzy’s death is no surprise (except for those who never thought he’d last this long), we should take pause and remember an icon with an endless energy for entertaining, a passion for music, and changing the expectations of popular culture for more than 50 years.

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

– ref. The incredible impact of Ozzy Osbourne, from Black Sabbath to Ozzfest to 30 years of retirement tours – https://theconversation.com/the-incredible-impact-of-ozzy-osbourne-from-black-sabbath-to-ozzfest-to-30-years-of-retirement-tours-258820

MIL OSI Analysis – EveningReport.nz –

July 23, 2025
MIL-OSI: iDox.ai Announces Launch of iDox.ai Privacy Scout: AI-Powered Solution That Goes Beyond DLP to Protect Sensitive Data in Real Time
Source: GlobeNewswire (MIL-OSI)

Fremont, California , July 22, 2025 (GLOBE NEWSWIRE) — iDox.ai, a U.S.-based provider of AI-powered document compliance tools, announces the launch of iDox.ai Privacy Scout, an advanced Data Loss Prevention (DLP) solution engineered to detect and protect sensitive information in real time, particularly in environments deploying Generative AI.

iDox.ai

As organizations adopt artificial intelligence across industries, new challenges emerge in safeguarding Personally Identifiable Information (PII), Protected Health Information (PHI), and other confidential data. Privacy Scout responds to these challenges by offering an automated solution that monitors and intercepts sensitive information before it can be exposed or misused.

Importantly, iDox.ai Privacy Scout promotes the secure sharing of documents with AI tools while protecting the PII within them. Unlike traditional DLP tools, iDox.ai Privacy Scout doesn’t treat next-generation AI as a threat—it enables its safe use. This is a key differentiator that empowers organizations to embrace AI innovation without compromising on privacy.

Key capabilities of iDox.ai Privacy Scout include:
- Real-Time Detection and Redaction: The system applies intelligent AI models to scan documents and files for sensitive content. It instantly redacts or restricts access to flagged data, preventing unauthorized disclosure.
- Industry-Wide Compatibility: Built for seamless deployment across healthcare, finance, legal, corporate IT, and government sectors, iDox.ai Privacy Scout integrates effortlessly into existing workflows while strengthening your organization’s data protection framework. The application installs directly on employees’ devices, ensuring immediate protection at the endpoint. For enterprise environments, it includes a centralized management console for streamlined oversight, policy enforcement, and user activity monitoring.
- Compliance Support: iDox.ai Privacy Scout helps organizations meet global data protection regulations such as HIPAA and GDPR, making it a strategic asset for businesses aiming to maintain data security and regulatory compliance.
“With the rise of Generative AI, businesses face new risks related to data privacy and unintentional information leaks,” said Jeremy Wei, CEO of iDox.ai. “iDox.ai Privacy Scout offers a reliable DLP solution that allows organizations to stay compliant while leveraging the advantages of AI.”

iDox.ai Privacy Scout joins iDox.ai’s suite of AI-driven compliance products, which includes tools for redaction, document comparison, and regulatory reporting. Together, these solutions help clients maintain secure information practices and implement effective Data Loss Prevention strategies.

The launch of iDox.ai Privacy Scout reinforces iDox.ai’s mission to develop technology that addresses evolving compliance challenges and strengthens trust in digital operations.

Organizations seeking early access or additional product details can visit: https://www.idox.ai/products/privacy-scout

About iDox.ai

Headquartered in Fremont, California, iDox.ai specializes in artificial intelligence tools for document management, redaction, and regulatory compliance. The company supports public and private sector organizations in securing data, reducing manual risk, and maintaining compliance in dynamic digital environments.

The MIL Network –
July 23, 2025
MIL-OSI Submissions: ‘Eat the rich’ — Why horror films are taking aim at the ultra-wealthy

Source: The Conversation – Canada – By Heather Roberts, PhD Candidate in Screen Cultures and Curatorial Studies, Queen’s University, Ontario

Samara Weaving in the horror film ‘Ready or Not.’ Weaving plays Grace, a bride who must survive until dawn on her wedding day as her in-laws hunt her down. (Searchlight Pictures)

This story contains spoilers about ‘Ready or Not’ and ‘The Menu.’

When Amazon founder Jeff Bezos and fiancée Lauren Sánchez held their lavish three-day wedding celebration in Venice recently, it wasn’t just a party — it was a spectacle of wealth, reportedly costing between US$47 million and US$56 million.

Critics highlighted the environmental toll of such an event on the fragile, flood-prone city, while protesters took to the streets to condemn the wedding as a tone-deaf symbol of oligarchical wealth at a time when many can’t afford to pay rent, let alone rent an island.

The excessive show of opulence felt like the opening of a horror film, and lately, that’s exactly what horror has been giving us. In films like Ready or Not (2019) and The Menu (2022), the rich aren’t simply out of touch; they’re portrayed as predators, criminals or even monsters.

Read more:
Horror comedy ‘The Menu’ delves into foodie snobbery when you’re dying for a cheeseburger

These “eat-the-rich” films channel widespread anxieties about the current socioeconomic climate and increasing disillusionment with capitalist systems.

In a world where the wealthy and powerful often seem to act with impunity, these films expose upper-class immorality and entitlement, and offer revenge fantasies where those normally crushed by the system fight back or burn it all down.

Horror takes aim at the wealthy

Originally a quote from social theorist Jean-Jacques Rousseau during the French Revolution, “eat the rich” has re-emerged in recent years in public protests and on social media in response to increasing socioeconomic inequality.

In cinema, eat-the-rich films often use grotesque hyperbole or satire to reveal and critique capitalist systems and the behaviours of the wealthy elite.

Film scholar Robin Wood argues that horror films enact a return of what is repressed by dominant bourgeois — that is, capitalist — ideology, typically embodied by the figure of the monster.

He cites The Texas Chain Saw Massacre (1974), a classic example of anti-capitalist sentiment in horror that depicts Leatherface (Gunnar Hansen) and his working-class family as monstrous victims of the 1970s industrial collapse. Rather than accept repression, they return as cannibalistic monsters, making visible the brutality of capitalist systems that exploit and degrade people like obsolete commodities.

But in eat-the-rich horror, it is the wealthy themselves who become the monsters. The locus of repression becomes their privilege, which is often built on exploitation, inequality and invisible or normalized forms of harm.

These films render these abstract systems tangible by making the elite’s monstrosity visible, literal and grotesque.

Revenge horror for the 99 per cent

Recent horror films are increasingly using genre conventions to critique wealth, privilege and the systems that sustain them.

Ready or Not turns the rich into bloodthirsty monsters who maintain their fortune through satanic rituals and human sacrifice. Grace (Samara Weaving) marries into the Le Domas family, board game magnates who initiate new family members with a deadly game of hide-and-seek. She must survive until dawn while her new in-laws hunt her down to fulfil a demonic pact.

The film critiques the idea of inherited wealth as something earned or honourable, combining humour and horror to reflect anxieties about class entrenchment and the moral decay of the elite.

Trailer for the 2019 horror film ‘Ready or Not.’

The Le Domases are monstrous not only for their violence, but for how casually they justify it. When several maids are accidentally killed in the chaos, they react with self-pity, indifferent to who must be sacrificed to maintain their wealth.

In The Menu, the rich are portrayed as monstrous not through physical violence, but through their moral failings — like financial crimes and infidelity — and their hollow consumption of culture.

Celebrity chef Julian Slowik (Ralph Fiennes) lures wealthy foodies to his exclusive island restaurant, using food as a weaponized form of art to expose guests’ hypocrisy and misdeeds. In one scene, guests are served tortillas laser-printed with incriminating images, such as banking records and evidence of fraudulent activity.

The tortilla scene from the 2022 horror film ‘The Menu.’

The film criticizes consumption in an industry where food is no longer a source of enjoyment or sustenance, but a status symbol for the elite to display their wealth and taste.

Why these films are striking a nerve now

It’s no surprise that audiences are turning to horror to make sense of systems that feel increasingly bleak and inescapable. In Canada, the cost of living continues to outpace wages, housing affordability remains an issue for many, while grocery prices are a source of horror in their own right.

A university degree, once considered a reliable path to stability, no longer guarantees the financial security of a salaried job. Many Canadians now rely on gig economy jobs as supplementary income.

Meanwhile, the wealth gap is increasing and obscene displays of wealth — like a multi-million-dollar wedding — can feel disconnected, even offensive, to people experiencing financial precarity.

Eat-the-rich films tap into this collective sense of injustice, transforming economic and social anxieties into a cathartic spectacle where ultra-wealthy villains are held accountable for their actions.

Margot, played by Anya Taylor-Joy, and executive chef Julian Slowik, played by Ralph Fiennes, in ‘The Menu.’
(Eric Zachanowich/Searchlight Pictures)

At the end of Ready or Not, the members of the Le Domas family explode one by one and their mansion burns down. In The Menu, the guests are dressed up like s’mores and immolated. In both films, fire serves as a symbolic cleansing of the wealthy, their power and the systems that protect them.

More than that, these films provide someone to root for: working-class protagonists who are targeted by the elite but ultimately survive. Former foster child Grace fights her way through a pack of murderous millionaires, while escort Margot/Erin (Anya Taylor-Joy) is spared when she rejects the pretentiousness of fine dining and orders a humble cheeseburger instead.

In this way, horror becomes a form of narrative resistance, illustrating class rage through characters who refuse to be consumed by the systems trying to oppress them. While inequality and exploitation persist in reality, eat-the-rich films offer escape, and even justice, on screen.

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

– ref. ‘Eat the rich’ — Why horror films are taking aim at the ultra-wealthy – https://theconversation.com/eat-the-rich-why-horror-films-are-taking-aim-at-the-ultra-wealthy-260550

MIL OSI –

July 23, 2025

MIL-OSI: First Bank Announces Second Quarter 2025 Net Income of $10.2 Million

Source: GlobeNewswire (MIL-OSI)

HAMILTON, N.J. , July 22, 2025 (GLOBE NEWSWIRE) — First Bank (Nasdaq Global Market: FRBA) (“the Bank”) today announced results for the second quarter of 2025. Net income for the second quarter of 2025 was $10.2 million, or $0.41 per diluted share, compared to $11.1 million, or $0.44 per diluted share, for the second quarter of 2024. Return on average assets, return on average equity and return on average tangible equityⁱ for the second quarter of 2025 were 1.04%, 9.77% and 11.16%, respectively, compared to 1.23%, 11.52% and 13.40%, respectively, for the second quarter of 2024.

Second Quarter 2025 Performance Highlights:

Total loans of $3.33 billion at June 30, 2025 grew $91.2 million, or 11.3%, annualized, from the linked quarter ended March 31, 2025.
Total deposits were $3.17 billion at June 30, 2025, increasing $48.4 million, or 6.2% annualized, from the linked quarter ended March 31, 2025.
Net interest margin measured 3.65% for the second quarter of 2025, remaining stable compared to the first quarter of 2025.
Tangible book value per shareⁱⁱ grew to $14.87 at June 30, 2025, increasing 11.1%, annualized, from $14.47 at March 31, 2025.
Strong asset quality continued, with nonperforming assets decreasing to 0.40% of total assets at June 30, 2025, compared to 0.42% at March 31, 2025 and 0.56% at June 30, 2024.

“We are pleased to report growth in high-quality loans and deposits that continues to enhance our core earnings profile,” said Patrick L. Ryan, President and CEO of First Bank. “Our team’s robust performance in expanding commercial and industrial (“C&I”) loans and non-interest bearing deposits during the first half of 2025 demonstrates effective execution of our strategy to grow deep middle market commercial relationships. We have achieved substantial organic growth in our primary areas of focus while maintaining a stable net interest margin, solid asset quality, and an efficiency ratio that remained below 60% for the 24th consecutive quarter. These successes positioned First Bank to deliver an 11.1% annualized increase in tangible book value per share during the second quarter.”

Mr. Ryan added, “We anticipate our pace of loan growth will likely moderate in the second half of 2025 as we continue to prioritize relationship-building and profitability over volume amid continued competition in the deposit market. With a focus on continuing to maximize our risk-adjusted returns on shareholders’ equity, we expect to realize additional benefits from the prudent management of our capital, such as the reduced debt costs afforded by our recent subordinated debt issuance, and by delivering enhanced returns to our shareholders through share buybacks. Furthermore, we remain committed to proactive investments designed to scale our business and achieve top quartile profitability relative to our peers.”

Income Statement

In the second quarter of 2025, the Bank’s net interest income increased to $34.0 million, growing $3.5 million, or 11.4%, compared to the same period in 2024. The increase was primarily driven by an increase of $3.6 million in interest income, reflecting higher average loan balances, which outpaced the $140,000 increase in interest expense. Net interest income increased $1.9 million, or 6.0%, over the linked quarter of 2025. This increase was primarily driven by a $3.4 million increase in interest income, primarily due to higher average loan balances and yields, partially offset by an increase of $1.5 million in interest expense, primarily resulting from higher average borrowings during the second quarter of 2025.

The Bank’s tax equivalent net interest margin measured 3.65% for the second quarter of 2025, increasing by three basis points from 3.62% for the prior year quarter, and remaining stable as compared to the linked quarter ended March 31, 2025. The modest improvement from the prior year quarter was driven by an improved interest rate spread, reflecting declines in average rates on deposits and borrowings which outpaced the reduction in average rates on earning assets. The Bank’s net interest margin remained stable as compared to the linked quarter primarily due to a slight increase in average rates on loans and a slight decrease in average rate on deposits, offset by the increased cost on subordinated debt. The Bank’s tax equivalent net interest margin includes the impact of amortization and accretion of premiums and discounts from fair value measurements of assets acquired and liabilities assumed in acquisitions. The net impact of amortization of premiums and accretion of discounts from fair value measurements of assets acquired and liabilities assumed in acquisitions was a $2.7 million increase in net interest income during the second quarter of 2025, compared to $2.8 million for the quarter ended March 31, 2025.

The Bank recorded a credit loss expense totaling $2.6 million during the second quarter of 2025, compared to credit loss expense totaling $1.5 million for the first quarter of 2025 and $63,000 for the second quarter of 2024. The increased credit loss expense for the second quarter of 2025 is primarily due to the Bank’s loan growth during the quarter, and to a lesser extent, slight increases in net charge-offs and specific reserves. The Bank’s credit loss expense for the second quarter of 2024 reflected the Bank’s strong and stable asset quality and modest loan growth during the quarter.

In the second quarter of 2025, the Bank recorded non-interest income totaling $2.7 million, compared to $689,000 during the same period in 2024 and $2.0 million during the first quarter of 2025. Non-interest income increased from both periods primarily due to higher loan fee income and a $397,000 gain on the sale of a corporate facility acquired through Malvern acquisition. Additionally, during the second quarter of 2024, the Bank recorded approximately $900,000 in net realized losses on the sale of certain loans as part of its balance sheet repositioning initiatives taken following its acquisition of Malvern Bank in 2023.

Non-interest expense for the second quarter of 2025 was $20.9 million, an increase of $2.9 million, or 16.2%, compared to $18.0 million for the prior year quarter. Higher non-interest expense was largely due to an increase of $1.1 million in salaries and employee benefits related to a larger employee base and $863,000 in one-time executive severance payments, a $429,000 increase in other expense primarily due to a settlement loss of $220,000 relating to a letter of credit commitment acquired through the Malvern Bank acquisition and other miscellaneous increases related to the Bank’s significant growth over the last twelve months, and $268,000 in higher occupancy and equipment costs due to ongoing branch network optimization initiatives and new branch locations added over the past year.

On a linked quarter basis, non-interest expense increased $483,000 from $20.4 million for the first quarter of 2025. The linked quarter growth primarily reflects increases of $841,000 in salaries and employee benefits costs primarily related to the aforementioned executive severance payments and settlement loss during the second quarter. This was partially offset by a decrease in other real estate owned (“OREO”) expense due to an $815,000 impairment of an OREO asset recorded during the linked quarter and the subsequent $34,000 gain on the sale of that property during second quarter 2025.

Income tax expense for the three months ended June 30, 2025 was $3.0 million with an effective tax rate of 22.9%, compared to $2.1 million with an effective tax rate of 16.2% for the second quarter of 2024. The effective tax rate for the second quarter of 2024 was lower due to the recognition of a $1.1 million tax benefit associated with the enactment of the New Jersey Corporate Transit Fee during that period and the related revaluation of the Bank’s deferred tax assets. Income tax expense for the six months ended June 30, 2025 was $5.8 million with an effective tax rate of 22.8%. We anticipate our future effective tax rate will be relatively stable and should not be significantly impacted by any recent legislative tax changes.

On July 4, 2025, subsequent to the end of the Company’s second fiscal quarter, the one big beautiful bill (“OBBB”) was enacted into law. The legislation includes a number of significant tax-related provisions, including changes affecting corporate tax incentives, international tax provisions, and various business credits and deductions. Pursuant to ASC 740, Income Taxes, the Company will recognize the effects of the OBBB in the third fiscal quarter of 2025, the period in which the legislation was enacted. The Company is currently evaluating the potential impact of the OBBB on its financial statements and, based on its preliminary assessment, does not expect the legislation to have a material impact.

Balance Sheet

The Bank reported total assets of $4.02 billion as of June 30, 2025, an increase of $403.6 million, or 11.2%, from $3.62 billion at June 30, 2024. Total loans increased $329.3 million, or 11.0%, to $3.33 billion at June 30, 2025 compared to $3.00 billion at June 30, 2024. The increase reflects strong organic loan growth, particularly in the C&I and owner-occupied commercial real estate portfolios.

Total assets increased $239.0 million, or 6.3%, from December 31, 2024 to June 30, 2025. Total loans as of June 30, 2025 increased $183.0 million, or 5.8%, from $3.14 billion at December 31, 2024, reflecting strong organic loan growth, particularly in the C&I and owner-occupied commercial real estate portfolios. The Bank’s cash and cash equivalents increased by $73.0 million, or 26.8%, compared to December 31, 2024, as management continued to maintain adequate on-balance sheet liquidity.

The Bank reported total deposits of $3.17 billion as of June 30, 2025, an increase of $200.6 million, or 6.8%, from $2.97 billion at June 30, 2024. Deposit growth was primarily due to our team’s success in attracting new deposit relationships while also maintaining existing balances amid heightened industry-wide pricing competition. Total deposits as of June 30, 2025 increased by $112.3 million, or 3.7%, from $3.06 billion at December 31, 2024, due to a combination of in-market commercial and consumer balances, offset somewhat by a decline in government related deposit balances. Compared to December 31, 2024, non-interest bearing demand deposits increased by $70.9 million to comprise 18.6% of total deposits, up from 17.0%. Over the same period, interest-bearing demand deposits decreased by $75.2 million to comprise 17.5% of total deposits at June 30, 2025, down from 20.6% at December 31, 2024. Time deposits expanded by $73.4 million, or 10.3%, during the first half of 2025.

During the six months ended June 30, 2025, stockholders’ equity increased by $13.2 million, or 3.2%, primarily due to net income, partially offset by dividends and share repurchases.

As of June 30, 2025, the Bank continued to exceed all regulatory capital requirements to be considered well-capitalized. The tangible stockholders’ equity to tangible assets ratioⁱⁱⁱ measured 9.34% as of June 30, 2025 compared to 9.56% at December 31, 2024. The decline from December 31, 2024, was primarily due to the asset growth during the period.

Asset Quality

First Bank’s asset quality metrics remained favorable during the second quarter of 2025. Total nonperforming assets declined from $17.3 million at December 31, 2024 to $16.0 million at June 30, 2025, primarily due to the sale of the Bank’s OREO asset during the second quarter of 2025, partially offset by the addition of nonperforming loans. Total nonperforming loans increased from $11.7 million at December 31, 2024 to $16.0 million at June 30, 2025.

The Bank recorded net charge-offs of $796,000 during the second quarter of 2025, compared to net recoveries of $15,000 in the first quarter of 2025 and net charge-offs of $175,000 in the second quarter of 2024. The allowance for credit losses on loans as a percentage of total loans measured 1.23% at June 30, 2025, compared to 1.21% at both March 31, 2025 and June 30, 2024.

Liquidity and Borrowings

Management believes the Bank’s current liquidity position, coupled with our various contingent funding sources, provides the Bank with a strong liquidity base and a diverse source of funding options. The Bank’s cash and cash equivalents increased by $56.8 million, or 19.7%, compared to March 31, 2025, ensuring adequate on-balance sheet liquidity. Borrowings increased by $44.9 million compared to March 31, 2025, as the Bank utilized Federal Home Loan Bank (“FHLB”) advances to support loan growth, while continuing to maintain adequate available borrowing capacity at the FHLB.

Subordinated Debt Issuance

On June 18, 2025, the Bank announced the closing of a $35.0 million private placement of fixed-to-floating rate subordinated notes with a maturity date of June 30, 2035 and a fixed rate of interest of 7.125% per annum for the first five years. Thereafter, the notes will pay interest at a floating rate, reset quarterly, equal to the then current three-month Secured Overnight Financing Rate (“SOFR”) plus 343 basis points. The notes may be redeemed at the option of the Bank, without penalty, on or after June 30, 2030. The Bank intends to use the proceeds of this issuance to redeem the Bank’s $30.0 million fixed-to-floating rate subordinated notes due June 1, 2030 (the “2020 notes”) on September 1, 2025, as well as for general corporate purposes. Previously, the 2020 notes carried a fixed rate of 5.50% per annum. On June 1, 2025, the 2020 notes began repricing quarterly at a rate equal to the current three-month term SOFR rate plus 538 basis points. The 2020 notes repriced to a rate of 9.704% per annum on June 1, 2025. The notes have been structured to qualify as Tier 2 capital for regulatory purposes.

Cash Dividend Declared

On July 15, 2025, the Bank’s Board of Directors declared a quarterly cash dividend of $0.06 per share to common stockholders of record at the close of business on August 8, 2025, payable on August 22, 2025.

Share Repurchase Program

During the second quarter of 2025 the Bank repurchased 193,185 shares of common stock at an average price of $14.71 per share, under the share repurchase program authorized in October 2024. Through June 30, 2025, 543,185 shares have been repurchased from the current share repurchase plan with a total cost of $8.0 million or $14.81 per share on average. The share repurchase program provides for the repurchase of up to 1.0 million shares of First Bank common stock with an aggregate repurchase amount of up to $16.0 million. The share repurchase program will expire on September 30, 2025.

Conference Call and Earnings Release Supplement

Additional details on the quarterly results and the Bank are included in the attached earnings release supplement. http://ml.globenewswire.com/Resource/Download/5917a538-bdcd-4a25-b364-99fd7d36addb

First Bank will host its earnings call on Wednesday, July 23, 2025 at 9:00 AM Eastern Time. The direct dial toll free number for the live call is 1-800-715-9871 and the access code is 3909613. For those unable to participate in the call, a replay will be available by dialing 1-800-770-2030 (access code 3909613) from one hour after the end of the conference call until October 21, 2025. Replay information will also be available on First Bank’s website at www.firstbanknj.com under the “About Us” tab. Click on “Investor Relations” to access the replay of the conference call.

About First Bank

First Bank is a New Jersey state-chartered bank with 27 full-service branches in Cinnaminson, Delanco, Denville, Ewing, Fairfield, Flemington, Hamilton, Lawrence, Monroe, Morristown, Pennington, Randolph, Somerset, Summit, Trenton and Williamstown, New Jersey; Coventry, Devon, Doylestown, Lionville, Malvern, Media, Paoli, Trevose, Warminster and West Chester, Pennsylvania; and Palm Beach, Florida. With $4.02 billion in assets as of June 30, 2025, First Bank offers a full range of deposit and loan products to individuals and businesses throughout the New York City to Philadelphia corridor. First Bank’s common stock is listed on the Nasdaq Global Market under the symbol “FRBA.”

Forward Looking Statements

This press release contains certain forward-looking statements, either express or implied, within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information regarding First Bank’s future financial performance, business and growth strategy, projected plans and objectives, and related transactions, integration of acquired businesses, ability to recognize anticipated operational efficiencies, and other projections based on macroeconomic and industry trends, which are inherently unreliable due to the multiple factors that impact economic trends, and any such variations may be material. Such forward-looking statements are based on various facts and derived utilizing important assumptions, current expectations, estimates and projections about First Bank, any of which may change over time and some of which may be beyond First Bank’s control. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. Further, certain factors that could affect our future results and cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to: whether First Bank can: successfully implement its growth strategy, including identifying acquisition targets and consummating suitable acquisitions, integrate acquired entities and realize anticipated efficiencies, sustain its internal growth rate, and provide competitive products and services that appeal to its customers and target markets; difficult market conditions and unfavorable economic trends in the United States generally, and particularly in the market areas in which First Bank operates and in which its loans are concentrated, including the effects of declines in housing market values; the impact of public health emergencies, on First Bank, its operations and its customers and employees; an increase in unemployment levels and slowdowns in economic growth; First Bank’s level of nonperforming assets and the costs associated with resolving any problem loans including litigation and other costs; changes in market interest rates may increase funding costs and reduce earning asset yields thus reducing margin; the impact of changes in interest rates and the credit quality and strength of underlying collateral and the effect of such changes on the market value of First Bank’s investment securities portfolio; the extensive federal and state regulation, supervision and examination governing almost every aspect of First Bank’s operations, including changes in regulations affecting financial institutions and expenses associated with complying with such regulations; uncertainties in tax estimates and valuations, including due to changes in state and federal tax law; First Bank’s ability to comply with applicable capital and liquidity requirements, including First Bank’s ability to generate liquidity internally or raise capital on favorable terms, including continued access to the debt and equity capital markets; and possible changes in trade, monetary and fiscal policies, laws and regulations and other activities of governments, agencies, and similar organizations. For discussion of these and other risks that may cause actual results to differ from expectations, please refer to “Forward-Looking Statements” and “Risk Factors” in First Bank’s Annual Report on Form 10-K and any updates to those risk factors set forth in First Bank’s proxy statement, subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. If one or more events related to these or other risks or uncertainties materialize, or if First Bank’s underlying assumptions prove to be incorrect, actual results may differ materially from what First Bank anticipates. Accordingly, you should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and First Bank does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. All forward-looking statements expressed or implied, included in this communication are expressly qualified in their entirety by this cautionary statement. This cautionary statement should also be considered in connection with any subsequent written or oral forward-looking statements that First Bank or persons acting on First Bank’s behalf may issue.

This press release contains “non-GAAP” financial measures, which management uses in its analysis of First Bank’s performance. Management believes these non-GAAP financial measures allow for better comparability of period to period operating performance. Additionally, First Bank believes this information is utilized by regulators and market analysts to evaluate a company’s financial condition and therefore, such information is useful to investors. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. A reconciliation of the non-GAAP measures used in this presentation to the most directly comparable GAAP measures is provided in the accompanying financial tables.

ⁱ Return on average tangible equity is a non-GAAP financial measure and is calculated by dividing net income by average tangible equity (average equity minus average goodwill and other intangible assets). For a reconciliation of this non-GAAP financial measure, along with the other non-GAAP financial measures in this press release, to their comparable GAAP measures, see the financial reconciliations at the end of this press release.

ⁱⁱ Tangible book value per share is a non-GAAP financial measure and is calculated by dividing common shares outstanding by tangible equity (equity minus goodwill and other intangible assets). For a reconciliation of this non-GAAP financial measure, along with the other non-GAAP financial measures in this press release, to their comparable GAAP measures, see the financial reconciliations at the end of this press release.

ⁱⁱⁱ Tangible stockholders’ equity to tangible assets ratio is a non-GAAP financial measure and is calculated by dividing tangible equity (equity minus goodwill and other intangible assets) by tangible assets (total assets minus goodwill and other intangible assets). For a reconciliation of this non-GAAP financial measure, along with the other non-GAAP financial measures in this press release, to their comparable GAAP measures, see the financial reconciliations at the end of this press release.

FIRST BANK CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (in thousands, except for share data, unaudited)

	June 30, 2025		December 31, 2024
Assets
Cash and due from banks	$	35,860	$	18,252
Restricted cash		9,900		14,270
Interest bearing deposits with banks		299,131		239,392
Cash and cash equivalents		344,891		271,914
Interest bearing time deposits with banks		747		743
Investment securities available for sale, at fair value (amortized cost of $86,666 and $84,083, respectively)		81,891		77,413
Equity securities, at fair value		1,904		1,870
Investment securities held to maturity, net of allowance for credit losses of $203 and $206, respectively (fair value of $41,941 and $42,770, respectively)		45,749		47,123
Restricted investment in bank stocks		18,009		14,333
Other investments		13,556		11,612
Loans held for sale		2,127		–
Loans, net of deferred fees and costs		3,327,288		3,144,266
Less: Allowance for credit losses		(40,877)		(37,773)
Net loans		3,286,411		3,106,493
Premises and equipment, net		17,987		21,351
Other real estate owned, net		–		5,637
Accrued interest receivable		14,505		14,267
Bank-owned life insurance		86,980		85,553
Goodwill		44,166		44,166
Other intangible assets, net		7,860		8,827
Deferred income taxes, net		25,032		25,528
Other assets		27,520		43,516
Total assets	$	4,019,335	$	3,780,346

Liabilities and Stockholders’ Equity
Liabilities:
Non-interest bearing deposits	$	590,209	$	519,320
Interest bearing deposits		2,578,004		2,536,576
Total deposits		3,168,213		3,055,896
Borrowings		326,802		246,933
Subordinated debentures		64,343		29,954
Accrued interest payable		4,443		3,820
Other liabilities		33,155		34,587
Total liabilities		3,596,956		3,371,190
Stockholders’ Equity:
Preferred stock, par value $2 per share; 10,000,000 shares authorized; no shares issued and outstanding		–		–
Common stock, par value $5 per share; 40,000,000 shares authorized; 27,630,039 shares issued and 24,905,790 shares outstanding and 27,375,439 shares issued and 25,100,829 shares outstanding, respectively		136,640		135,495
Additional paid-in capital		125,290		124,524
Retained earnings		193,395		176,779
Accumulated other comprehensive loss		(3,525)		(4,925)
Treasury stock, 2,724,249 and 2,274,610 shares, respectively		(29,421)		(22,717)
Total stockholders’ equity		422,379		409,156
Total liabilities and stockholders’ equity	$	4,019,335	$	3,780,346

FIRST BANK CONSOLIDATED STATEMENTS OF INCOME (in thousands, except for share data, unaudited)

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Interest and Dividend Income
Investment securities—taxable	$	1,246	$	1,278	$	2,434	$	2,460
Investment securities—tax-exempt		41		36		92		74
Interest bearing deposits with banks, Federal funds sold and other		3,487		3,482		6,484		6,507
Loans, including fees		54,394		50,763		105,946		100,082
Total interest and dividend income		59,168		55,559		114,956		109,123

Interest Expense
Deposits		21,276		22,386		42,120		43,172
Borrowings		3,256		2,193		5,668		4,309
Subordinated debentures		627		440		1,067		784
Total interest expense		25,159		25,019		48,855		48,265
Net interest income		34,009		30,540		66,101		60,858
Credit loss expense (benefit)		2,558		63		4,102		(635)
Net interest income after credit loss expense (benefit)		31,451		30,477		61,999		61,493

Non-Interest Income
Service fees on deposit accounts		382		350		738		694
Loan fees		568		117		894		219
Income from bank-owned life insurance		723		609		1,516		1,394
Gains on sale of loans, net		75		(900)		104		(671)
Gains on recovery of acquired loans		100		56		124		174
Gain on sale of other assets		397		–		397		–
Other non-interest income		457		457		900		843
Total non-interest income		2,702		689		4,673		2,653

Non-Interest Expense
Salaries and employee benefits		11,959		9,968		23,077		20,006
Occupancy and equipment		2,350		2,082		4,814		4,108
Legal fees		279		240		647		556
Other professional fees		924		929		1,650		1,685
Regulatory fees		684		640		1,368		1,242
Directors’ fees		260		270		542		512
Data processing		893		749		1,698		1,555
Marketing and advertising		503		377		902		673
Travel and entertainment		251		285		487		529
Insurance		233		251		447		495
Other real estate owned expense, net		69		129		989		217
Other expense		2,462		2,033		4,630		4,185
Total non-interest expense		20,867		17,953		41,251		35,763
Income Before Income Taxes		13,286		13,213		25,421		28,383
Income tax expense		3,047		2,140		5,801		4,798
Net Income	$	10,239	$	11,073	$	19,620	$	23,585

Basic earnings per common share	$	0.41	$	0.44	$	0.78	$	0.94
Diluted earnings per common share	$	0.41	$	0.44	$	0.77	$	0.93

Basic weighted average common shares outstanding		25,029,164		25,129,199		25,073,368		25,084,558
Diluted weighted average common shares outstanding		25,234,120		25,258,785		25,335,743		25,228,888

FIRST BANK AVERAGE BALANCE SHEETS WITH INTEREST AND AVERAGE RATES (dollars in thousands, unaudited)

	Three Months Ended June 30,
	2025							2024
	Average				Average			Average				Average
	Balance		Interest		Rate (5)			Balance		Interest		Rate (5)
Interest earning assets
Investment securities ^{(1) (2)}	$	135,094	$	1,295		3.84	%	$	146,289	$	1,321		3.63	%
Loans ⁽³⁾		3,296,031		54,394		6.62	%		2,997,892		50,763		6.81	%
Interest bearing deposits with banks,
Federal funds sold and other		276,488		3,079		4.47	%		224,503		3,101		5.56	%
Restricted investment in bank stocks		17,960		276		6.16	%		11,178		243		8.74	%
Other investments		15,402		132		3.44	%		12,136		138		4.57	%
Total interest earning assets ⁽²⁾		3,740,975		59,176		6.34	%		3,391,998		55,566		6.59	%
Allowance for credit losses		(39,507)							(36,784)
Non-interest earning assets		251,475							263,698
Total assets	$	3,952,943						$	3,618,912

Interest bearing liabilities
Interest bearing demand deposits	$	606,838	$	3,701		2.45	%	$	591,222	$	3,813		2.59	%
Money market deposits		1,064,363		8,917		3.36	%		1,061,593		10,559		4.00	%
Savings deposits		140,301		694		1.98	%		158,158		619		1.57	%
Time deposits		781,299		7,964		4.09	%		678,197		7,395		4.39	%
Total interest bearing deposits		2,592,801		21,276		3.29	%		2,489,170		22,386		3.62	%
Borrowings		319,494		3,256		4.09	%		171,533		2,193		5.14	%
Subordinated debentures		34,966		627		7.17	%		29,880		440		5.89	%
Total interest bearing liabilities		2,947,261		25,159		3.42	%		2,690,583		25,019		3.74	%
Non-interest bearing deposits		548,279							497,205
Other liabilities		36,960							44,480
Stockholders’ equity		420,443							386,644
Total liabilities and stockholders’ equity	$	3,952,943						$	3,618,912
Net interest income/interest rate spread ⁽²⁾				34,017		2.92	%				30,547		2.85	%
Net interest margin ^{(2) (4)}						3.65	%						3.62	%
Tax equivalent adjustment ⁽²⁾				(8)							(7)
Net interest income			$	34,009						$	30,540

(1) Average balance of investment securities available for sale is based on amortized cost.

(2) Interest and average rates are presented on a tax equivalent basis using a federal income tax rate of 21%.

(3) Average balances of loans include loans on nonaccrual status.

(4) Net interest income divided by average total interest earning assets.

(5) Annualized.

FIRST BANK AVERAGE BALANCE SHEETS WITH INTEREST AND AVERAGE RATES (dollars in thousands, unaudited)

	Six Months Ended June 30,
	2025							2024
	Average				Average			Average				Average
	Balance		Interest		Rate (5)			Balance		Interest		Rate (5)
Interest earning assets
Investment securities^{(1) (2)}	$	134,686	$	2,545		3.81	%	$	146,719	$	2,549		3.49	%
Loans⁽³⁾		3,233,747		105,946		6.61	%		2,988,707		100,082		6.73	%
Interest bearing deposits with banks,
Federal funds sold and other		255,378		5,654		4.46	%		213,831		5,811		5.46	%
Restricted investment in bank stocks		16,059		576		7.23	%		10,800		442		8.23	%
Other investments		14,731		254		3.48	%		12,003		254		4.26	%
Total interest earning assets⁽²⁾		3,654,601		114,975		6.34	%		3,372,060		109,138		6.51	%
Allowance for credit losses		(38,847)							(37,196)
Non-interest earning assets		256,261							262,465
Total assets	$	3,872,015						$	3,597,329

Interest bearing liabilities
Interest bearing demand deposits	$	625,682	$	7,728		2.49	%	$	605,081	$	7,479		2.49	%
Money market deposits		1,054,742		17,548		3.36	%		1,038,250		20,348		3.94	%
Savings deposits		141,395		1,344		1.92	%		160,135		1,193		1.50	%
Time deposits		749,765		15,500		4.17	%		674,872		14,152		4.22	%
Total interest bearing deposits		2,571,584		42,120		3.30	%		2,478,338		43,172		3.50	%
Borrowings		277,245		5,668		4.12	%		169,337		4,309		5.12	%
Subordinated debentures		32,478		1,067		6.57	%		36,175		784		4.33	%
Total interest bearing liabilities		2,881,307		48,855		3.42	%		2,683,850		48,265		3.62	%
Non-interest bearing deposits		534,877							489,353
Other liabilities		38,755							42,534
Stockholders’ equity		417,076							381,592
Total liabilities and stockholders’ equity	$	3,872,015						$	3,597,329
Net interest income/interest rate spread⁽²⁾				66,120		2.92	%				60,873		2.89	%
Net interest margin^{(2) (4)}						3.65	%						3.63	%
Tax equivalent adjustment⁽²⁾				(19)							(15)
Net interest income			$	66,101						$	60,858

(1) Average balance of investment securities available for sale is based on amortized cost.
(2) Interest and average rates are presented on a tax equivalent basis using a federal income tax rate of 21%.
(3) Average balances of loans include loans on nonaccrual status.
(4) Net interest income divided by average total interest earning assets.
(5) Annualized.

FIRST BANK QUARTERLY FINANCIAL HIGHLIGHTS (in thousands, except for share and employee data, unaudited)

	As of or For the Quarter Ended
	6/30/2025		3/31/2025		12/31/2024		9/30/2024		6/30/2024
EARNINGS
Net interest income	$	34,009	$	32,092	$	31,594	$	30,094	$	30,540
Credit loss expense		2,558		1,544		234		1,579		63
Non-interest income		2,702		1,971		2,176		2,479		689
Non-interest expense		20,867		20,384		19,124		18,644		17,953
Income tax expense		3,047		2,754		3,915		4,188		2,140
Net income		10,239		9,381		10,497		8,162		11,073

PERFORMANCE RATIOS
Return on average assets⁽¹⁾		1.04%		1.00%		1.10%		0.88%		1.23%
Return on average equity⁽¹⁾		9.77%		9.20%		10.27%		8.15%		11.52%
Return on average tangible equity^{(1) (2)}		11.16%		10.54%		11.82%		9.42%		13.40%
Net interest margin^{(1) (3)}		3.65%		3.65%		3.54%		3.48%		3.62%
Yield on loans⁽¹⁾		6.62%		6.59%		6.62%		6.73%		6.81%
Total cost of deposits⁽¹⁾		2.72%		2.75%		2.89%		3.06%		3.01%
Efficiency ratio⁽²⁾		56.24%		57.65%		56.98%		58.49%		55.88%

SHARE DATA
Common shares outstanding		24,905,790		25,045,612		25,100,829		25,186,920		25,144,983
Basic earnings per share	$	0.41	$	0.37	$	0.42	$	0.32	$	0.44
Diluted earnings per share		0.41		0.37		0.41		0.32		0.44
Book value per share		16.96		16.57		16.30		15.96		15.61
Tangible book value per share⁽²⁾		14.87		14.47		14.19		13.84		13.46

MARKET DATA
Market value per share	$	15.47	$	14.81	$	14.07	$	15.20	$	12.74
Market value / Tangible book value⁽²⁾		104.03%		102.35%		99.16%		109.83%		94.65%
Market capitalization	$	385,293	$	370,926	$	353,169	$	382,841	$	320,347

CAPITAL & LIQUIDITY
Stockholders’ equity / assets		10.51%		10.69%		10.82%		10.70%		10.86%
Tangible stockholders’ equity / tangible assets⁽²⁾		9.34%		9.47%		9.56%		9.41%		9.50%
Loans / deposits		105.02%		103.73%		102.89%		101.23%		101.02%

ASSET QUALITY
Net charge-offs (recoveries)	$	796	$	(15)	$	(155)	$	386	$	175
Nonperforming loans		15,978		11,584		11,677		12,014		14,227
Nonperforming assets		15,978		16,406		17,314		17,651		20,226
Net charge offs (recoveries)/ average loans⁽¹⁾		0.10%		(0.00%)		(0.02%)		0.05%		0.02%
Nonperforming loans / total loans		0.48%		0.36%		0.37%		0.39%		0.47%
Nonperforming assets / total assets		0.40%		0.42%		0.46%		0.47%		0.56%
Allowance for credit losses on loans / total loans		1.23%		1.21%		1.20%		1.21%		1.21%
Allowance for credit losses on loans / nonperforming loans		255.83%		338.60%		323.48%		311.59%		254.81%

OTHER DATA
Total assets	$	4,019,335	$	3,880,759	$	3,780,346	$	3,757,653	$	3,615,731
Total loans		3,327,288		3,236,039		3,144,266		3,087,488		2,998,029
Total deposits		3,168,213		3,119,794		3,055,896		3,050,070		2,967,634
Total stockholders’ equity		422,379		414,915		409,156		402,070		392,489
Number of full-time equivalent employees		335		315		318		313		294

(1) Annualized.
(2) Non-U.S. GAAP financial measure that we believe provides management and investors with information that is useful in understanding our financial performance and condition. See accompanying table, “Non-U.S. GAAP Financial Measures,” for calculation and reconciliation.
(3) Tax equivalent using a federal income tax rate of 21%.

FIRST BANK QUARTERLY FINANCIAL HIGHLIGHTS (dollars in thousands, unaudited)

	As of the Quarter Ended
	6/30/2025		3/31/2025		12/31/2024		9/30/2024		6/30/2024
LOAN COMPOSITION
Commercial and industrial	$	706,849	$	651,690	$	576,625	$	546,541	$	530,996
Commercial real estate:
Owner-occupied		707,766		694,113		671,357		688,988		647,625
Investor		1,192,716		1,160,549		1,181,684		1,170,508		1,143,954
Construction and development		161,361		200,262		205,096		193,460		190,108
Multi-family		309,189		308,217		287,843		267,861		270,238
Total commercial real estate		2,371,032		2,363,141		2,345,980		2,320,817		2,251,925
Residential real estate:
Residential mortgage and first lien home equity loans		160,935		142,298		142,769		144,081		144,978
Home equity–second lien loans and revolving lines of credit		62,738		52,438		51,020		49,763		46,882
Total residential real estate		223,673		194,736		193,789		193,844		191,860
Consumer and other		29,248		29,760		31,324		29,518		26,321
Total loans prior to deferred loan fees and costs		3,330,802		3,239,327		3,147,718		3,090,720		3,001,102
Net deferred loan fees and costs		(3,514)		(3,288)		(3,452)		(3,232)		(3,073)
Total loans	$	3,327,288	$	3,236,039	$	3,144,266	$	3,087,488	$	2,998,029

LOAN MIX
Commercial and industrial		21.2%		20.1%		18.3%		17.7%		17.7%
Commercial real estate:
Owner-occupied		21.3%		21.5%		21.4%		22.3%		22.3%
Investor		35.8%		35.9%		37.6%		37.9%		37.9%
Construction and development		4.8%		6.2%		6.5%		6.3%		6.3%
Multi-family		9.3%		9.5%		9.1%		8.7%		8.7%
Total commercial real estate		71.3%		73.1%		74.6%		75.2%		75.2%
Residential real estate:
Residential mortgage and first lien home equity loans		4.8%		4.4%		4.6%		4.7%		4.7%
Home equity–second lien loans and revolving lines of credit		1.9%		1.6%		1.6%		1.6%		1.6%
Total residential real estate		6.7%		6.0%		6.2%		6.3%		6.3%
Consumer and other		0.9%		0.9%		1.0%		0.9%		0.9%
Net deferred loan fees and costs		(0.1%)		(0.1%)		(0.1%)		(0.1%)		(0.1%)
Total loans		100.0%		100.0%		100.0%		100.0%		100.0%

FIRST BANK QUARTERLY FINANCIAL HIGHLIGHTS (dollars in thousands, unaudited)

	As of the Quarter Ended
	6/30/2025		3/31/2025		12/31/2024		9/30/2024		6/30/2024
DEPOSIT COMPOSITION
Non-interest bearing demand deposits	$	590,209	$	535,584	$	519,320	$	519,079	$	499,765
Interest bearing demand deposits		553,909		629,974		629,099		597,802		574,515
Money market and savings deposits		1,241,277		1,197,517		1,198,039		1,235,637		1,199,382
Time deposits		782,818		756,719		709,438		697,552		693,972
Total Deposits	$	3,168,213	$	3,119,794	$	3,055,896	$	3,050,070	$	2,967,634

DEPOSIT MIX
Non-interest bearing demand deposits		18.6%		17.2%		17.0%		17.0%		16.8%
Interest bearing demand deposits		17.5%		20.2%		20.6%		19.6%		19.4%
Money market and savings deposits		39.2%		38.4%		39.2%		40.5%		40.4%
Time deposits		24.7%		24.2%		23.2%		22.9%		23.4%
Total Deposits		100.0%		100.0%		100.0%		100.0%		100.0%

FIRST BANK NON-GAAP FINANCIAL MEASURES (in thousands, except for share data, unaudited)

	As of or For the Quarter Ended
	6/30/2025		3/31/2025		12/31/2024		9/30/2024		6/30/2024
Return on Average Tangible Equity
Net income (numerator)	$	10,239	$	9,381	$	10,497	$	8,162	$	11,073

Average stockholders’ equity	$	420,443	$	413,672	$	406,579	$	398,535	$	386,644
Less: Average Goodwill and other intangible assets, net		52,301		52,805		53,278		53,823		54,347
Average Tangible stockholders’ equity (denominator)	$	368,142	$	360,867	$	353,301	$	344,712	$	332,297

Return on average tangible equity⁽¹⁾		11.16%		10.54%		11.82%		9.42%		13.40%

Tangible Book Value Per Share
Stockholders’ equity	$	422,379	$	414,915	$	409,156	$	402,070	$	392,489
Less: Goodwill and other intangible assets, net		52,026		52,507		52,993		53,484		54,026
Tangible stockholders’ equity (numerator)	$	370,353	$	362,408	$	356,163	$	348,586	$	338,463

Common shares outstanding (denominator)		24,905,790		25,045,612		25,100,829		25,186,920		25,144,983

Tangible book value per share	$	14.87	$	14.47	$	14.19	$	13.84	$	13.46

Tangible Equity / Tangible Assets
Stockholders’ equity	$	422,379	$	414,915	$	409,156	$	402,070	$	392,489
Less: Goodwill and other intangible assets, net		52,026		52,507		52,993		53,484		54,026
Tangible stockholders’ equity (numerator)	$	370,353	$	362,408	$	356,163	$	348,586	$	338,463

Total assets	$	4,019,335	$	3,880,759	$	3,780,346	$	3,757,653	$	3,615,731
Less: Goodwill and other intangible assets, net		52,026		52,507		52,993		53,484		54,026
Tangible total assets (denominator)	$	3,967,309	$	3,828,252	$	3,727,353	$	3,704,169	$	3,561,705

Tangible stockholders’ equity / tangible assets		9.34%		9.47%		9.56%		9.41%		9.50%

Efficiency Ratio
Non-interest expense	$	20,867	$	20,384	$	19,124	$	18,644	$	17,953
Less: Other real estate owned write-down		–		815		–		362		–
Adjusted non-interest expense (numerator)	$	20,867	$	19,569	$	19,124	$	18,282	$	17,953

Net interest income	$	34,009	$	32,092	$	31,594	$	30,094	$	30,540
Non-interest income		2,702		1,971		2,176		2,479		689
Total revenue		36,711		34,063		33,770		32,573		31,229
Add: Losses on sale of investment securities, net		–		–		–		555		–
(Subtract) Add: (Gains) losses on sale of loans, net		(75)		(29)		(38)		(135)		900
(Subtract): Gain on sale of other assets		(397)		–		–		–		–
Less: Bank Owned Life Insurance Incentive		–		(88)		(168)		(1,116)		–
Add: Executive Officer Severance Benefits		863		–		–		–		–
Adjusted total revenue (denominator)	$	37,102	$	33,946	$	33,564	$	31,877	$	32,129

Efficiency ratio		56.24%		57.65%		56.98%		57.35%		55.88%

(1) Annualized.

The MIL Network –

July 23, 2025

MIL-OSI: Ellomay Capital Announces the Acquisition of 15% of Dorad Energy’s Shares by Ellomay Luzon Energy, Increasing Ellomay Luzon Energy’s Holdings in Dorad to 33.75%
Source: GlobeNewswire (MIL-OSI)

Tel-Aviv, Israel, July 22, 2025 (GLOBE NEWSWIRE) — Ellomay Capital Ltd. (NYSE American; TASE: ELLO) (“Ellomay” or the “Company”), a renewable energy and power generator and developer of renewable energy and power projects in Europe, the USA and Israel, announced that on July 22, 2025, Ellomay Luzon Energy Infrastructures Ltd. (“Ellomay Luzon Energy”), an Israeli private company 50% held indirectly by the Company, completed the acquisition of 15% of the outstanding shares of Dorad Energy Ltd. (“Dorad”). As a result of the acquisition, Ellomay Luzon Energy holds 33.75% of Dorad’s outstanding shares.

Ellomay Luzon Energy acquired 15% of Dorad’s outstanding shares by exercising the right of first refusal granted to Ellomay Luzon Energy and other Dorad shareholders in connection with a sale of the shares by Zorlu Enerji Elektrik Üretim A.S (“Zorlu”), a former Dorad shareholder. In connection with the right of first refusal process, Ellomay Luzon Energy and Edelcom Ltd. (“Edelcom”), each executed an agreement to purchase 7.5% of Dorad’s shares. As not all the conditions to closing of the sale of 7.5% of Dorad’s shares to Edelcom were fulfilled, Edelcom’s agreement was terminated and Ellomay Luzon Energy, who did succeed in fulfilling all of the conditions to closing, acquired 15% of Dorad’s shares.

The consideration for the shares was approximately NIS 424 million (approximately €108 million), and was funded by bank financing (the “Loan Agreement”) provided to Ellomay Luzon Energy consisting of three tranches as follows: (i) a loan in the amount of NIS 175 million (approximately €45 million), bearing annual interest in the range of +0.5% to -0.5% of the Israeli Prime Rate (the “First Loan”), (ii) a loan in the amount of NIS 175 million (approximately €45 million), bearing fixed annual interest rate between 5% and 6% (the “Second Loan”), and (iii) a loan in the amount of NIS 70 million (approximately €18 million), bearing annual interest rate in the range of +0.5% to -0.5% of the Israeli Prime Rate (the “Third Loan”).

The First Loan is repayable in four semi-annual payments commencing December 31, 2031 and ending on June 30, 2033, and the interest on the First Loan is payable in semi-annual payments commencing December 31, 2025 and ending on the final repayment of the First Loan. The Second Loan is repayable in sixteen semi-annual payments commencing December 31, 2025 and ending on June 30, 2033, and the interest on the Second Loan is payable in semi-annual payment commencing December 31, 2025 and ending on the final repayment of the Second Loan. The Third Loan is repayable in one payment on December 31, 2025, unless the conditions set forth in the Loan Agreement will not be met, which will enable Ellomay Luzon Energy to ask for an extension until December 31, 2026. The interest on the Third Loan is payable on December 31, 2025 and, to the extent an extension is requested, in semi-annual payments thereafter until the final repayment of the Third Loan.

In connection with the Loan Agreement, Ellomay Luzon Energy granted the lender a first ranking fixed pledge on its rights in connection with an account with the lender (the “Pledged Account”), in which all amounts due to Ellomay Luzon Energy from Dorad will be deposited. The Loan Agreement provides that when any dividend is received from Dorad: (i) Ellomay Luzon Energy will leave in the Pledged Account the amount required for the next payment to the lender, (ii) to the extent the amount received during a calendar year exceeds NIS 65 million, then Ellomay Luzon Energy will make an early repayment of the First Loan and thereafter the Third Loan in the amount of 50% of the difference between the amount of receipts in the calendar year and NIS 65 million by no later than June 30 of the following year (pro rata over all future payments), and (iii) with respect to any amount in excess of the amounts required as stated in paragraphs (i) and (ii) – Ellomay Luzon Energy is entitled to use the funds deposited in the Pledged Account for any need, subject to the provisions of the law and the agreements with the lender. The Loan Agreement provides that the First and Third Loans may be prepaid without an early repayment fee and the Second Loan may be prepaid subject to payment of fees as generally acceptable in the lender.

The Loan Agreement includes customary immediate repayment provisions, including in the event of a breach of an undertaking by Ellomay Luzon Energy, a deterioration in Ellomay Luzon Energy’s financial situation and the initiation of legal proceedings in connection with the Dorad shares held by Ellomay Luzon Energy. The Loan Agreement includes additional undertakings by Ellomay Luzon Energy, including not to amend the Ellomay Luzon Energy shareholders’ agreement without the lender’s prior written consent and the execution of an undertaking not to operate outside its current field of operations; not to assume financial obligations and not to provide financing to a third party; not to sell and/or transfer and/or deliver and/or lease and/or rent any Asset and/or any right of its rights, as well as a negative pledge on any Asset (as this term is defined below) and/or part of the its Assets, without the lender’s prior written consent, other than a pledge on its shares of Dorad in favor of the lenders of Dorad. The undertaking defines an “Asset” as any asset and right of Ellomay Luzon Energy, including the shares of Dorad held by it and other rights of any kind, including its unissued share capital and goodwill.

On July 20, 2025, Edelcom filed a request with the Tel Aviv-Jaffa District Court (the “Court”) for injunctions and temporary injunctions, ex parte, aimed at preventing the receipt of approval from the Dorad board of directors and Dorad’s shareholders for the sale of 7.5% of Dorad’s shares to any third party other than Edelcom and preventing such a sale. The Court, in its decision date July 20, 2025, rejected the request for ex parte relief and directed Edelcom to update the Court on the decisions of Dorad’s board of directors and shareholders by July 22, 2025, and, to the extent that the request for interim relief is still relevant, to file a main proceeding by July 27, 2025, further noting that the respondents (among them, inter alia: Dorad, Ellomay Luzon Energy and Zorlu), will prepare to respond to the request for interim relief by July 30, 2025. The Court’s decision further noted that if future actions will be approved by Dorad based on a transfer of shares if it occurs (and this, as stated, without the Court preventing it), whereby the increased power of the respondents as shareholders is used for the purpose of changes in Dorad’s board of directors, or the transfer of the shares to third parties, as Edelcom noted that it fears, and to the extent that the respondents will try to take such actions or other irrevocable action, Edelcom will be notified seven days in advance, in a manner that will allow it time to act and the Court to give appropriate instructions. A hearing is scheduled for August 6, 2025.

About Ellomay Capital Ltd.

Ellomay is an Israeli based company whose shares are registered with the NYSE American and with the Tel Aviv Stock Exchange under the trading symbol “ELLO”. Since 2009, Ellomay focuses its business in the renewable energy and power sectors in Europe, the USA and Israel.

To date, Ellomay has evaluated numerous opportunities and invested significant funds in the renewable, clean energy and natural resources industries in Israel, Italy, Spain, the Netherlands and Texas, USA, including:
- Approximately 335.9 MW of operating solar power plants in Spain (including a 300 MW solar plant in owned by Talasol, which is 51% owned by the Company) and 51% of approximately 38 MW of operating solar power plants in Italy;
- 9.375% indirect interest in Dorad Energy Ltd., which owns and operates one of Israel’s largest private power plants with production capacity of approximately 850MW, representing about 6%-8% of Israel’s total current electricity consumption;
- Groen Gas Goor B.V., Groen Gas Oude-Tonge B.V. and Groen Gas Gelderland B.V., project companies operating anaerobic digestion plants in the Netherlands, with a green gas production capacity of approximately 3 million, 3.8 million and 9.5 million Nm3 per year, respectively;
- 83.333% of Ellomay Pumped Storage (2014) Ltd., which is involved in a project to construct a 156 MW pumped storage hydro power plant in the Manara Cliff, Israel;
- 51% of solar projects in Italy with an aggregate capacity of 160 MW that commenced construction processes;
- Solar projects in Italy with an aggregate capacity of 134 MW that have reached “ready to build” status; and
- Solar projects in the Dallas Metropolitan area, Texas, USA with an aggregate capacity of approximately 27 MW that are connected to the grid and additional 22 MW that are awaiting connection to the grid.
For more information about Ellomay, visit http://www.ellomay.com.

Information Relating to Forward-Looking Statements

This press release contains forward-looking statements that involve substantial risks and uncertainties, including statements that are based on the current expectations and assumptions of the Company’s management. All statements, other than statements of historical facts, included in this press release regarding the Company’s plans and objectives, expectations and assumptions of management are forward-looking statements. The use of certain words, including the words “estimate,” “project,” “intend,” “expect,” “believe” and similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company may not actually achieve the plans, intentions or expectations disclosed in the forward-looking statements and you should not place undue reliance on the Company’s forward-looking statements. Various important factors could cause actual results or events to differ materially from those that may be expressed or implied by the Company’s forward-looking statements, including potential outcome of current and future litigation in connection with Dorad’s shares held by Ellomay Luzon Energy, changes in electricity prices and demand, regulatory changes increases in interest rates and inflation, changes in the supply and prices of resources required for the operation of the Company’s facilities (such as waste and natural gas) and in the price of oil, the impact of the war and hostilities in Israel and Gaza and between Israel and Iran, the impact of the continued military conflict between Russia and Ukraine, technical and other disruptions in the operations or construction of the power plants owned by the Company, inability to obtain the financing required for the development and construction of projects, inability to advance the expansion of Dorad, increases in interest rates and inflation, changes in exchange rates, delays in development, construction, or commencement of operation of the projects under development, failure to obtain permits – whether within the set time frame or at all, climate change, and general market, political and economic conditions in the countries in which the Company operates, including Israel, Spain, Italy and the United States. and general market, political and economic conditions in the countries in which the Company operates, including Israel, Spain, Italy and the United States. These and other risks and uncertainties associated with the Company’s business are described in greater detail in the filings the Company makes from time to time with Securities and Exchange Commission, including its Annual Report on Form 20-F. The forward-looking statements are made as of this date and the Company does not undertake any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Kalia Rubenbach (Weintraub)
CFO
Tel: +972 (3) 797-1111
Email: hilai@ellomay.com

The MIL Network –
July 23, 2025
MIL-Evening Report: Kneecap’s stance on Gaza extends a long history of the Irish supporting other oppressed peoples

Source: The Conversation (Au and NZ) – By Ciara Smart, PhD Graduand in Australasian Irish History, University of Tasmania

Love them or hate them, there’s no doubt Irish hip-hop trio Kneecap are having a moment.

Their music – delivered in a powerful fusion of English and Irish – is known for its gritty lyrics about party drugs and working-class life in post-Troubles Ireland. More recently, the group has made headlines for its outspoken support for the Palestinian people.

British police have charged member Liam Óg Ó hAnnaidh (known by his stage name Mo Chara) with a terrorism offence. Ó hAnnaidh was charged in May, after being accused of displaying a Hezbollah flag at a London concert in November.

But this isn’t the first time an Irish republican group has courted controversy for backing other oppressed peoples. This has been happening for almost two centuries.

Unsanitised and vocal support

Ireland is composed of 32 counties. Twenty-six are in the Republic of Ireland, while six are part of the United Kingdom in Northern Ireland. When the British government withdrew from most of Ireland in 1921, the Irish Free State was largely Catholic, while Northern Ireland was more heavily Protestant. But these divisions are becoming increasingly irrelevant.

While Ireland is still split across two nations, public support for Irish unity remains strong, particularly among citizens of the Republic.

Kneecap’s members are from Belfast, the capital of Northern Ireland. They are also fierce republicans, which means they want to see Ireland united as one nation. One of their most popular songs, Get Your Brits Out, calls for the British state’s withdrawal from Northern Ireland.

The group has experienced a meteoric rise in recent years, helped by a semi-autobiographical film released last year.

They have reclaimed the term “Fenian”, often used as an anti-Irish slur. Their decision to rap in Irish is also a cultural milestone, as the language was suppressed in Northern Ireland for most of the 20th century, only achieving official language status in 2022.

Despite being undeniable provocateurs, they claim they aren’t
interested in reigniting Catholic-Protestant conflict. They celebrate the similarities between both groups, rather than highlight their differences.

Ó hAnnaidh’s alleged terrorism offence came after he waved a Hezbollah flag at a London gig and chanted “Up Hamas, up Hezbollah”. Both Hamas and Hezbollah are considered terrorist groups in Britain. He will face court on August 20.

Irish-Māori solidarity

Kneecap is carrying on a long tradition of Irish groups who faced controversy for denouncing the oppressive acts of powerful states.

In the 19th century, several Irish nationalist groups expressed solidarity with other colonised peoples, especially Māori in Aotearoa New Zealand. Groups such as the Irish Republican Brotherhood (whose members were called Fenians) arguably saw Māori and Irish as co-victims of a tyrannical state.

Irish nationalist newspapers often wrote sympathetically about the colonisation of New Zealand, and tried to inspire Ireland to resist British subjugation, like Māori seemed to be doing.

This painting by Kennett Watkins, The Death of Von Tempsky at Te Ngutu o Te Manu (circa 1893), portrays conflict in 1868 between armed constabulary and Māori forces.
Wikimedia

In July 1864, the Fenian newspaper The Irish People stressed British hypocrisy. It wrote, “savages we call [Māori], using the arrogant language of civilisation, but, honestly, they deserve to be characterised by a much better word”.

It also scoffed at the “unconquerable propensity of the Anglo-Saxon to plunder the lands of other people – a propensity which manifests itself most strikingly alike in Ireland and New Zealand”.

Similarly, in December 1868, the nationalist newspaper The Nation contrasted “valiant” Māori with “terrified” British. It sarcastically described Māori as “rebels (men fighting for their own rights on their own soil)” and mocked the British forces as “valiant men who could bully a priest”.

The article finished on a sombre note: “Mere valour will in the end go down before the force of numbers and the cunning of diplomacy”.

Rumours of a secret rebellion

Other Irish leaders, such as the nationalist Michael Davitt, saw inspirational parallels between the nonviolent campaign of Charles Stewart Parnell, the 19th century leader of the Irish Home Rule movement, and Māori leader Te Whiti-o-Rongomai.

In Ireland, Parnell encouraged poor tenant farmers to pause rent payments to their British landlords. In New Zealand, Te Whiti encouraged Māori to dismantle colonially-constructed fences and plough the land for themselves. Both were arrested in 1881 within three weeks of each other.

The ‘No Rent Manifesto’ was issued on 18 October 1881, by Parnell and others of the Irish National Land League while in Kilmainham Jail.
National Library of Ireland

So strong was the sense of kinship between Irish and Māori that, in the 1860s, there were persistent rumours of a joint Irish-Māori rebellion reported in the media and even New Zealand’s parliament.

In March, 1869, the conservative New Zealand newspaper Daily Southern Cross reported a large number of Māori “have decided on joining the Fenian Brotherhood, and have adopted the green flag as their national emblem”.

Later that year, the paper reported the supposed Fenians told a Māori resistance group that, “like the Maori, they hate the British rule, and are prepared to make common cause […] to overthrow that rule in New Zealand”.

However, these rumours were probably no more than a conspiracy fuelled by racist anti-Irish paranoia.

Actions and outcomes

Any tangible results of cross-cultural sympathy from 19th century Irish nationalists were mixed, at best. My ongoing research shows solidarity with Māori was partly motivated by humanitarian motives, but was also often used to make a point about Ireland.

Identifying with another oppressed peoples within the context of a corrupt empire was a powerful way to argue for improved political recognition within Ireland. Irish nationalists generally didn’t do much other than declare their sympathy.

Kneecap, on the other hand, seems willing to bear the legal and financial consequences of being vocal about human rights abuses in Gaza. Some of their shows have been cancelled, and funding providers have withdrawn.

While curated rebellion can be lucrative in show-business, Kneecap says the controversy following them is a distraction. They insist the world should focus squarely on Gaza instead.

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

– ref. Kneecap’s stance on Gaza extends a long history of the Irish supporting other oppressed peoples – https://theconversation.com/kneecaps-stance-on-gaza-extends-a-long-history-of-the-irish-supporting-other-oppressed-peoples-261261

MIL OSI Analysis – EveningReport.nz –

July 23, 2025
MIL-OSI: NextNav Announces Date for Second Quarter 2025 Earnings Call

Source: GlobeNewswire (MIL-OSI)

RESTON, Va., July 22, 2025 (GLOBE NEWSWIRE) — NextNav (Nasdaq: NN), a leader in next generation positioning, navigation, timing (PNT) and 3D geolocation, today announced that it will release its financial results for the second quarter ended June 30, 2025 after market close on Wednesday, August 6, 2025, and will host a conference call on the same day at 5:00 PM ET to discuss its results and operational highlights.

Registration for the conference call can be completed by visiting the following website prior to, or on the day of, the conference call: https://registrations.events/direct/Q4I629360. After registering, each participant will be provided with call details and a registrant ID. Reminders will also be sent to registered participants via email. Alternatively, the conference call will be available via a live webcast.

To access the live webcast or a replay, visit the Company’s investor relations website at https://ir.nextnav.com/.

A replay will be available through August 13, 2025. To receive replay details, please register through the link above. After registering for replay details, each participant will be provided with call details and access codes to listen to the call playback.

About NextNav

NextNav Inc. (Nasdaq: NN) is a leader in next-generation positioning, navigation and timing (PNT), enabling a whole new ecosystem of applications and services that rely upon 3D geolocation and PNT technology. Powered by low-band licensed spectrum, NextNav’s positioning and timing technologies deliver accurate, reliable, and resilient 3D PNT solutions for critical infrastructure, GPS resiliency and commercial use cases.

For more information, please visit https://nextnav.com/ or follow NextNav on X at https://x.com/NextNav or LinkedIn at https://www.linkedin.com/company/nextnav/.

Source: NN-FIN

Investor Contact:
IR@nextnav.com

The MIL Network –

July 23, 2025
MIL-OSI: Rigetti Computing to Report Second Quarter 2025 Financial Results and Host Conference Call on August 12, 2025

Source: GlobeNewswire (MIL-OSI)

BERKELEY, Calif., July 22, 2025 (GLOBE NEWSWIRE) — Rigetti Computing, Inc. (“Rigetti” or the “Company”) (Nasdaq: RGTI), a pioneer in hybrid quantum-classical computing, announced today that it will release second quarter 2025 results on August 12, 2025 after market close. The Company will host a conference call to discuss its financial results and provide an update on its business operations at 5:00 p.m. ET the same day.

Key details regarding the call are as follows:

Call Date: Tuesday, August 12, 2025
Call Time: 5:00 p.m. ET / 2:00 p.m. PT
Webcast Link: https://edge.media-server.com/mmc/p/8kvnrhub
Live Call Participant Link: https://register-conf.media-server.com/register/BIf27dc41c4e0f4111a2f9000900ce8dd6

Webcast Instructions
You can listen to a live audio webcast of the conference call by visiting the “Webcast Link” above or the “Events & Presentations” section of the Company’s Investor Relations website at https://investors.rigetti.com/. A replay of the conference call will be available at the same locations following the conclusion of the call for one year.

Live Call Participant Instructions
To participate in the live call, you must register using the “Live Call Participant Link” above. Once registered, you will receive dial-in numbers and a unique PIN number. When you dial in, you will input your PIN and be routed into the call. If you register and forget your PIN, or lose the registration confirmation email, simply re-register to receive a new PIN.

About Rigetti
Rigetti is a pioneer in full-stack quantum computing. The Company has operated quantum computers over the cloud since 2017 and serves global enterprise, government, and research clients through its Rigetti Quantum Cloud Services platform. In 2021, Rigetti began selling on-premises quantum computing systems with qubit counts between 24 and 84 qubits, supporting national laboratories and quantum computing centers. Rigetti’s 9-qubit Novera™ QPU was introduced in 2023 supporting a broader R&D community with a high-performance, on-premises QPU designed to plug into a customer’s existing cryogenic and control systems. The Company’s proprietary quantum-classical infrastructure provides high-performance integration with public and private clouds for practical quantum computing. Rigetti has developed the industry’s first multi-chip quantum processor for scalable quantum computing systems. The Company designs and manufactures its chips in-house at Fab-1, the industry’s first dedicated and integrated quantum device manufacturing facility. Learn more at www.rigetti.com.

Rigetti Computing Media Contact:
press@rigetti.com
Rigetti Computing Investor Relations Contact:
IR@Rigetti.com

The MIL Network –

July 23, 2025

MIL-OSI: Enphase Energy Reports Financial Results for the Second Quarter of 2025

Source: GlobeNewswire (MIL-OSI)

FREMONT, Calif., July 22, 2025 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, announced today financial results for the second quarter of 2025, which included the summary below from its President and CEO, Badri Kothandaraman.

We reported quarterly revenue of $363.2 million in the second quarter of 2025, along with 48.6% for non-GAAP gross margin. We shipped approximately 1.53 million microinverters, or 675.4 megawatts DC, and 190.9 megawatt hours (MWh) of IQ^® Batteries.

Highlights for the second quarter of 2025 are listed below:

IQ^® Meter Collar approved by 29 U.S. utilities to date
U.S. manufacturing: shipped approximately 1.41 million microinverters and record 46.9 MWh of IQ Batteries
Revenue of $363.2 million
GAAP gross margin of 46.9%; non-GAAP gross margin of 48.6% with net IRA benefit
Non-GAAP gross margin of 37.2%, excluding net IRA benefit of 11.4%
GAAP operating income of $37.0 million; non-GAAP operating income of $98.6 million
GAAP net income of $37.1 million; non-GAAP net income of $89.9 million
GAAP diluted earnings per share of $0.28; non-GAAP diluted earnings per share of $0.69
Free cash flow of $18.4 million; ending cash, cash equivalents and marketable securities of $1.53 billion

Our revenue and earnings for the second quarter of 2025 are provided below, compared with the prior quarter:

(In thousands, except per share and percentage data)

	GAAP									Non-GAAP
	Q2 2025			Q1 2025			Q2 2024			Q2 2025			Q1 2025			Q2 2024
Revenue	$	363,153		$	356,084		$	303,458		$	363,153		$	356,084		$	303,458
Gross margin		46.9	%		47.2	%		45.2	%		48.6	%		48.9	%		47.1	%
Operating expenses	$	133,486		$	136,319		$	135,367		$	77,781		$	79,423		$	81,706
Operating income	$	37,007		$	31,922		$	1,799		$	98,613		$	94,637		$	61,080
Net income	$	37,052		$	29,730		$	10,833		$	89,869		$	89,243		$	58,824
Basic EPS	$	0.28		$	0.23		$	0.08		$	0.69		$	0.68		$	0.43
Diluted EPS	$	0.28		$	0.22		$	0.08		$	0.69		$	0.68		$	0.43

Total revenue for the second quarter of 2025 was $363.2 million, compared to $356.1 million in the first quarter of 2025. Our revenue in the second quarter of 2025 included $40.4 million of safe harbor revenue, compared to $54.3 million of safe harbor revenue in the first quarter. Our revenue in the United States for the second quarter of 2025 increased approximately 3%, compared to the first quarter. The increase was the result of seasonality partially offset by lower safe harbor revenue. Our revenue in Europe increased approximately 11% for the second quarter of 2025, compared to the first quarter. The increase in revenue was primarily due to higher microinverter and battery sales as we continued to ramp shipments of our IQ^® Battery 5P™ with FlexPhase during the second quarter.

Our non-GAAP gross margin was 48.6% in the second quarter of 2025, compared to 48.9% in the first quarter. Our non-GAAP gross margin, excluding net benefit from the Inflation Reduction Act (IRA), was 37.2% in the second quarter of 2025, compared to 38.3% in the first quarter. The reciprocal tariffs had a negative impact of approximately two percentage points on margins.

Our non-GAAP operating expenses were $77.8 million in the second quarter of 2025, compared to $79.4 million in the first quarter. Our non-GAAP operating income was $98.6 million in the second quarter of 2025, compared to $94.6 million in the first quarter.

We exited the second quarter of 2025 with $1.53 billion in cash, cash equivalents and marketable securities and generated $26.6 million in cash flow from operations in the second quarter. Our capital expenditures were $8.2 million in the second quarter of 2025, compared to $14.6 million in the first quarter of 2025.

In the second quarter of 2025, we repurchased 702,948 shares of our common stock at an average price of $42.67 per share for a total of approximately $30.0 million. We also spent approximately $3.0 million by withholding shares to cover taxes for employee stock vesting that reduced the diluted shares by 58,332 shares.

During the second quarter of 2025, we shipped approximately 1.41 million microinverters from manufacturing facilities in the United States that we booked for 45X production tax credits. We continued to ship our IQ8HC™ Microinverters, IQ8P-3P™ Commercial Microinverters, and IQ^® Battery 5Ps from these facilities, meeting domestic content requirements.

We shipped a record 190.9 MWh of IQ Batteries in the second quarter of 2025, compared to 170.1 MWh in the first quarter. More than 11,700 installers worldwide are certified to install our IQ Batteries, compared to more than 10,900 installers worldwide in the first quarter of 2025. In addition, we have 210 MWh of batteries in our fleet currently enrolled in virtual power plant (VPP) programs globally.

During the second quarter of 2025, we began shipping our fourth-generation Enphase Energy System, which includes the IQ^® Battery 10C, IQ^® Meter Collar, and IQ^® Combiner 6C, to customers in the United States. The IQ Battery 10C is designed to be 30% more energy-dense, occupy 62% less wall space, and lower the cost of install compared to previous models. Together, these components simplify the entire backup installation process, enhance reliability, and provide greater value to homeowners. The IQ Meter Collar has now been approved by 29 U.S. utilities.

We also ramped shipments of our IQ Battery with FlexPhase into more countries in Europe. This AC-coupled battery system supports both single-phase and three-phase homes, providing full backup capability and superior flexibility to meet diverse home energy needs.

The IQ^® EV Charger 2, our most advanced residential charger to date, is now shipping to 18 countries across Europe, Australia, and New Zealand. This smart charger is designed to work seamlessly with Enphase solar and battery systems or as a powerful standalone solution. We also started shipping our IQ^® Balcony Solar Kit, a simple and efficient solution for harnessing solar energy from panels installed on apartment balconies, in Belgium and Germany during the second quarter of 2025.

We continue to strengthen our digital platform and improve the customer experience. We are investing in several new enhancements for Solargraf, our all-in-one installer platform, including expanded third-party ownership (TPO) partner integrations, a custom tariff builder, enhanced dealership management features, and a simplified, AI-driven design experience – all aimed at making Solargraf even more powerful and intuitive.

BUSINESS HIGHLIGHTS

On July 17, 2025, Enphase Energy announced initial shipments of the IQ Battery 5P supplied from manufacturing facilities in the United States with higher domestic content than previous models.

On July 10 and July 2, 2025, Enphase Energy announced that production shipments of its IQ EV Charger 2 have expanded Europe to now include Greece, Romania, Ireland, Poland, Australia, and New Zealand.

On June 16, 2025, Enphase Energy announced the launch of the IQ Battery 5P with FlexPhase, for customers in more European countries, including Spain, Portugal, France, Sweden, Denmark, Belgium, and the Netherlands.

On June 4, 2025, Enphase Energy announced that IQ8P-3P Commercial Microinverters made with domestic content were selected for significant commercial projects on a Florida school, an affordable housing complex in Rhode Island, and a community center in California.

On May 19, 2025, Enphase Energy introduced IQ^® Energy Management that integrates with Enphase solar and battery systems to enable smart management of variable electricity rates and select third-party electric vehicle (EV) chargers, heat pumps, and resistive electric water heaters in France.

On May 12 and May 7, 2025, Enphase Energy announced the launch of the IQ Balcony Solar System in Belgium and Germany that empowers apartment dwellers and homeowners with limited roof space to generate their own clean energy from balconies, patios, and small outdoor areas.

On May 8, 2025, Enphase Energy announced the availability of new software that allows homeowners with existing legacy IQ7™ Microinverter-based systems to seamlessly expand their solar capacity using IQ8™ Microinverters.

On April 28, 2025, Enphase Energy announced production shipments of IQ8 Microinverters in Japan through a distribution agreement with ITOCHU Corporation, one of the largest trading companies in the country.

THIRD QUARTER 2025 FINANCIAL OUTLOOK

For the third quarter of 2025, Enphase Energy estimates both GAAP and non-GAAP financial results as follows:

Revenue to be within a range of $330.0 million to $370.0 million, which includes shipments of 190 to 210 MWh of IQ Batteries.
GAAP gross margin to be within a range of 41.0% to 44.0% with net IRA benefit, including approximately three to five percentage points of new tariff impact.
Non-GAAP gross margin to be within a range of 43.0% to 46.0% with net IRA benefit and 33.0% to 36.0% excluding net IRA benefit, including approximately three to five percentage points of new tariff impact. Non-GAAP gross margin excludes stock-based compensation expense and acquisition related amortization.
Net IRA benefit to be within a range of $34.0 million to $38.0 million based on estimated shipments of 1,200,000 units of U.S. manufactured microinverters.
GAAP operating expenses to be within a range of $130.0 million to $134.0 million.
Non-GAAP operating expenses to be within a range of $78.0 million to $82.0 million, excluding $52.0 million estimated for stock-based compensation expense, acquisition related amortization, restructuring and asset impairment charges.

For 2025, Enphase expects a GAAP tax rate of 19-21% and a non-GAAP tax rate of 15-17%, including IRA benefits.

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Use of non-GAAP Financial Measures

Enphase Energy has presented certain non-GAAP financial measures in this press release. Generally, a non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either exclude or include amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with generally accepted accounting principles in the United States (GAAP). Reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure can be found in the accompanying tables to this press release. Non-GAAP financial measures presented by Enphase Energy include non-GAAP gross profit, gross margin, operating expenses, income from operations, net income, net income per share (basic and diluted), net IRA benefit, and free cash flow.

These non-GAAP financial measures do not reflect a comprehensive system of accounting, differ from GAAP measures with the same captions and may differ from non-GAAP financial measures with the same or similar captions that are used by other companies. In addition, these non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Enphase Energy’s results of operations as determined in accordance with GAAP. As such, these non-GAAP measures should be considered as a supplement to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. Enphase Energy uses these non-GAAP financial measures to analyze its operating performance and future prospects, develop internal budgets and financial goals, and to facilitate period-to-period comparisons. Enphase Energy believes that these non-GAAP financial measures reflect an additional way of viewing aspects of its operations that, when viewed with its GAAP results, provide a more complete understanding of factors and trends affecting its business.

As presented in the “Reconciliation of Non-GAAP Financial Measures” tables below, each of the non-GAAP financial measures excludes one or more of the following items for purposes of calculating non-GAAP financial measures to facilitate an evaluation of Enphase Energy’s current operating performance and a comparison to its past operating performance:

Stock-based compensation expense. Enphase Energy excludes stock-based compensation expense from its non-GAAP measures primarily because they are non-cash in nature. Moreover, the impact of this expense is significantly affected by Enphase Energy’s stock price at the time of an award over which management has limited to no control.

Acquisition related amortization. This item represents amortization of acquired intangible assets, which is a non-cash expense. Acquisition related amortization of acquired intangible assets are not reflective of Enphase Energy’s ongoing financial performance.

Restructuring and asset impairment charges. Enphase Energy excludes restructuring and asset impairment charges due to the nature of the expenses being unusual and arising outside the ordinary course of continuing operations. These costs primarily consist of fees paid for cash-based severance costs, accelerated stock-based compensation expense and asset write-downs of property and equipment and acquired intangible assets, and other contract termination costs resulting from restructuring initiatives.

Non-cash interest expense. This item consists primarily of amortization of debt issuance costs and accretion of debt discount because these expenses do not represent a cash outflow for Enphase Energy except in the period the financing was secured and such amortization expense is not reflective of Enphase Energy’s ongoing financial performance.

Non-GAAP income tax adjustment. This item represents the amount adjusted to Enphase Energy’s GAAP tax provision or benefit to exclude the income tax effects of GAAP adjustments such as stock-based compensation, amortization of purchased intangibles, and other non-recurring items that are not reflective of Enphase Energy ongoing financial performance.

Non-GAAP net income per share, diluted. Enphase Energy excludes the dilutive effect of in-the-money portion of convertible senior notes as they are covered by convertible note hedge transactions that reduce potential dilution to our common stock upon conversion of the Notes due 2025, Notes due 2026, and Notes due 2028, and includes the dilutive effect of employee’s stock-based awards and the dilutive effect of warrants. Enphase Energy believes these adjustments provide useful supplemental information to the ongoing financial performance.

Net IRA benefit. This item represents the advanced manufacturing production tax credit (AMPTC) from the IRA for manufacturing microinverters in the United States, partially offset by the incremental manufacturing cost incurred in the United States relative to manufacturing in India. The AMPTC is accounted for by Enphase Energy as an income-based government grants that reduces cost of revenues in the condensed consolidated statements of operations.

Free cash flow. This item represents net cash flows from operating activities less purchases of property and equipment.

Conference Call Information

Enphase Energy will host a conference call for analysts and investors to discuss its second quarter 2025 results and third quarter 2025 business outlook today at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time). The call is open to the public by dialing (833) 634-5018. A live webcast of the conference call will also be accessible from the “Investor Relations” section of Enphase Energy’s website at https://investor.enphase.com.

Following the webcast, an archived version will be available on the website for approximately one year. In addition, an audio replay of the conference call will be available by calling (877) 344-7529; replay access code 6021998, beginning approximately one hour after the call.

Forward-Looking Statements

This press release contains forward-looking statements, including statements related to Enphase Energy’s expectations as to its third quarter of 2025 financial outlook, including revenue, shipments of IQ Batteries by MWh, gross margin with net IRA benefit and excluding net IRA benefit, estimated shipments of U.S. manufactured microinverters, operating expenses, and annualized effective tax rate with IRA benefit; its expectations regarding the expected net IRA benefit; future enhancements for Solargraf; and the capabilities, advantages, features, and performance of its technology and products. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Enphase Energy’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties including those risks described in more detail in its most recently filed Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and other documents on file with the SEC from time to time and available on the SEC’s website at www.sec.gov. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.

A copy of this press release can be found on the investor relations page of Enphase Energy’s website at https://investor.enphase.com.

About Enphase Energy, Inc.

Enphase Energy, a global energy technology company based in Fremont, CA, is the world’s leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power – and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 83.1 million microinverters, and more than 4.9 million Enphase-based systems have been deployed in over 160 countries. For more information, visit https://enphase.com/.

© 2025 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, IQ8, and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks or service marks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.

Contact:

Zach Freedman
Enphase Energy, Inc.
Investor Relations
ir@enphaseenergy.com

ENPHASE ENERGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(Unaudited)
	Three Months Ended									Six Months Ended
	June 30, 2025			March 31, 2025			June 30, 2024			June 30, 2025			June 30, 2024
Net revenues	$	363,153		$	356,084		$	303,458		$	719,237		$	566,797
Cost of revenues		192,660			187,843			166,292			380,503			314,123
Gross profit		170,493			168,241			137,166			338,734			252,674
Operating expenses:
Research and development		45,421			50,174			48,871			95,595			103,082
Sales and marketing		50,708			48,948			51,775			99,656			105,082
General and administrative		34,035			34,035			33,550			68,070			68,732
Restructuring and asset impairment charges		3,322			3,162			1,171			6,484			3,078
Total operating expenses		133,486			136,319			135,367			269,805			279,974
Income (loss) from operations		37,007			31,922			1,799			68,929			(27,300	)
Other income, net
Interest income		14,911			17,032			19,203			31,943			38,912
Interest expense		(815	)		(2,047	)		(2,220	)		(2,862	)		(4,416	)
Other expense, net		(8,898	)		(14	)		(7,566	)		(8,912	)		(7,479	)
Total other income, net		5,198			14,971			9,417			20,169			27,017
Income (loss) before income taxes		42,205			46,893			11,216			89,098			(283	)
Income tax provision		(5,153	)		(17,163	)		(383	)		(22,316	)		(4,981	)
Net income (loss)	$	37,052		$	29,730		$	10,833		$	66,782		$	(5,264	)
Net income (loss) per share:
Basic	$	0.28		$	0.23		$	0.08		$	0.51		$	(0.04	)
Diluted	$	0.28		$	0.22		$	0.08		$	0.50		$	(0.04	)
Shares used in per share calculation:
Basic		131,031			131,869			135,646			131,447			135,768
Diluted		135,219			136,208			136,123			135,719			135,768

ENPHASE ENERGY, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)
	June 30, 2025		December 31, 2024
ASSETS
Current assets:
Cash and cash equivalents	$	370,536	$	369,110
Restricted cash		—		95,006
Marketable securities		1,159,648		1,253,480
Accounts receivable, net		223,218		223,749
Inventory		173,016		165,004
Prepaid expenses and other assets		362,523		220,735
Total current assets		2,288,941		2,327,084
Property and equipment, net		136,902		147,514
Intangible assets, net		32,380		42,398
Goodwill		214,890		211,571
Other assets		193,426		205,542
Deferred tax assets, net		312,250		315,567
Total assets	$	3,178,789	$	3,249,676
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	162,697	$	90,032
Accrued liabilities		206,537		196,887
Deferred revenues, current		129,040		237,225
Warranty obligations, current		33,136		34,656
Debt, current		631,179		101,291
Total current liabilities		1,162,589		660,091
Long-term liabilities:
Deferred revenues, non-current		331,531		341,982
Warranty obligations, non-current		172,950		158,233
Other liabilities		59,542		55,265
Debt, non-current		571,540		1,201,089
Total liabilities		2,298,152		2,416,660
Total stockholders’ equity		880,637		833,016
Total liabilities and stockholders’ equity	$	3,178,789	$	3,249,676

ENPHASE ENERGY, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
(Unaudited)
		Three Months Ended									Six Months Ended
		June 30, 2025			March 31, 2025			June 30, 2024			June 30, 2025			June 30, 2024
Cash flows from operating activities:
Net income (loss)		$	37,052		$	29,730		$	10,833		$	66,782		$	(5,264	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization			20,085			19,915			20,484			40,000			40,621
Net accretion of premium (discount) on marketable securities			(1,234	)		3,512			(1,030	)		2,278			1,795
Provision for doubtful accounts			130			62			1,897			192			1,767
Asset impairment			1,538			27			6,241			1,565			6,573
Non-cash interest expense			828			1,679			2,157			2,507			4,289
Change in fair value of debt securities			9,464			(323	)		1,931			9,141			989
Stock-based compensation			53,896			55,633			52,757			109,529			113,590
Deferred income taxes			403			8,560			(14,076	)		8,963			(22,368	)
Changes in operating assets and liabilities:
Accounts receivable			8,681			1,760			82,183			10,441			159,542
Inventory			(28,991	)		20,979			31,825			(8,012	)		37,527
Prepaid expenses and other assets			(64,261	)		(75,553	)		(42,810	)		(139,814	)		(53,707	)
Accounts payable, accrued and other liabilities			37,212			54,232			(23,944	)		91,444			(90,228	)
Warranty obligations			2,639			10,558			15			13,197			(11,908	)
Deferred revenues			(50,813	)		(82,357	)		(1,401	)		(133,170	)		(6,955	)
	Net cash provided by operating activities		26,629			48,414			127,062			75,043			176,263
Cash flows from investing activities:
Purchases of property and equipment			(8,259	)		(14,608	)		(9,636	)		(22,867	)		(17,007	)
Investment in tax equity fund			(1,440	)		(6,904	)		—			(8,344	)		—
Purchases of marketable securities			(284,306	)		(200,826	)		(300,053	)		(485,132	)		(772,321	)
Maturities and sale of marketable securities			242,820			335,398			282,063			578,218			779,436
	Net cash provided by (used in) investing activities		(51,185	)		113,060			(27,626	)		61,875			(9,892	)
Cash flows from financing activities:
Settlement of Notes due 2025			—			(102,168	)		—			(102,168	)		(2	)
Repurchase of common stock			(29,993	)		(99,964	)		(99,908	)		(129,957	)		(141,904	)
Proceeds from issuance of common stock under employee equity plans			5,302			67			6,769			5,369			7,955
Payment of withholding taxes related to net share settlement of equity awards			(2,864	)		(12,110	)		(7,473	)		(14,974	)		(67,515	)
	Net cash used in financing activities		(27,555	)		(214,175	)		(100,612	)		(241,730	)		(201,466	)
	Effect of exchange rate changes on cash, cash equivalents and restricted cash		7,557			3,675			(374	)		11,232			(1,551	)
Net decrease in cash, cash equivalents and restricted cash			(44,554	)		(49,026	)		(1,550	)		(93,580	)		(36,646	)
Cash, cash equivalents and restricted cash — Beginning of period			415,090			464,116			253,652			464,116			288,748
Cash, cash equivalents and restricted cash — End of period		$	370,536		$	415,090		$	252,102		$	370,536		$	252,102

ENPHASE ENERGY, INC.
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(In thousands, except per share data and percentages)
(Unaudited)
		Three Months Ended									Six Months Ended
		June 30, 2025			March 31, 2025			June 30, 2024			June 30, 2025			June 30, 2024
Gross profit (GAAP)		$	170,493		$	168,241		$	137,166		$	338,734		$	252,674
	Stock-based compensation		4,311			4,239			3,730			8,550			7,912
	Acquisition related amortization		1,590			1,580			1,890			3,170			3,781
Gross profit (Non-GAAP)		$	176,394		$	174,060		$	142,786		$	350,454		$	264,367

Gross margin (GAAP)			46.9	%		47.2	%		45.2	%		47.1	%		44.6	%
	Stock-based compensation		1.3			1.2			1.3			1.2			1.3
	Acquisition related amortization		0.4			0.5			0.6			0.4			0.7
Gross margin (Non-GAAP)			48.6	%		48.9	%		47.1	%		48.7	%		46.6	%

Operating expenses (GAAP)		$	133,486		$	136,319		$	135,367		$	269,805		$	279,974
	Stock-based compensation⁽¹⁾		(49,506	)		(50,885	)		(49,027	)		(100,391	)		(105,678	)
	Acquisition related amortization		(2,877	)		(2,849	)		(3,463	)		(5,726	)		(6,925	)
	Restructuring and asset impairment charges⁽¹⁾		(3,322	)		(3,162	)		(1,171	)		(6,484	)		(3,078	)
Operating expenses (Non-GAAP)		$	77,781		$	79,423		$	81,706		$	157,204		$	164,293

⁽¹⁾Includes stock-based compensation as follows:
	Research and development	$	20,481		$	21,647		$	20,210		$	42,128		$	44,760
	Sales and marketing		16,657			16,396			16,784			33,053			34,962
	General and administrative		12,368			12,842			12,033			25,210			25,956
	Restructuring and asset impairment charges		79			509			—			588			—
	Total	$	49,585		$	51,394		$	49,027		$	100,979		$	105,678

Income (loss) from operations (GAAP)		$	37,007		$	31,922		$	1,799		$	68,929		$	(27,300	)
	Stock-based compensation		53,817			55,124			52,757			108,941			113,590
	Acquisition related amortization		4,467			4,429			5,353			8,896			10,706
	Restructuring and asset impairment charges		3,322			3,162			1,171			6,484			3,078
Income from operations (Non-GAAP)		$	98,613		$	94,637		$	61,080		$	193,250		$	100,074

Net income (loss) (GAAP)		$	37,052		$	29,730		$	10,833		$	66,782		$	(5,264	)
	Stock-based compensation		53,817			55,124			52,757			108,941			113,590
	Acquisition related amortization		4,467			4,429			5,353			8,896			10,706
	Restructuring and asset impairment charges		3,322			3,162			1,171			6,484			3,078
	Non-cash interest expense		829			1,678			2,157			2,507			4,289
	Non-GAAP income tax adjustment		(9,618	)		(4,880	)		(13,447	)		(14,498	)		(19,619	)
Net income (Non-GAAP)		$	89,869		$	89,243		$	58,824		$	179,112		$	106,780

Net income (loss) per share, basic (GAAP)		$	0.28		$	0.23		$	0.08		$	0.51		$	(0.04	)
	Stock-based compensation		0.41			0.42			0.39			0.80			0.84
	Acquisition related amortization		0.03			0.04			0.04			0.08			0.08
	Restructuring and asset impairment charges		0.03			0.02			0.01			0.06			0.02
	Non-cash interest expense		0.01			0.01			0.02			0.02			0.03
	Non-GAAP income tax adjustment		(0.07	)		(0.04	)		(0.11	)		(0.11	)		(0.14	)
Net income per share, basic (Non-GAAP)		$	0.69		$	0.68		$	0.43		$	1.36		$	0.79

	Shares used in basic per share calculation GAAP and Non-GAAP		131,031			131,869			135,646			131,447			135,768

Net income (loss) per share, diluted (GAAP)		$	0.28		$	0.22		$	0.08		$	0.50		$	(0.04	)
	Stock-based compensation		0.41			0.42			0.38			0.83			0.84
	Acquisition related amortization		0.03			0.04			0.04			0.07			0.08
	Restructuring and asset impairment charges		0.03			0.03			0.01			0.05			0.02
	Non-cash interest expense		0.01			0.01			0.02			0.02			0.03
	Non-GAAP income tax adjustment		(0.07	)		(0.04	)		(0.10	)		(0.11	)		(0.15	)
Net income per share, diluted (Non-GAAP)		$	0.69		$	0.68		$	0.43		$	1.36		$	0.78

	Shares used in diluted per share calculation GAAP		135,219			136,208			136,123			135,719			135,768
	Shares used in diluted per share calculation Non-GAAP		131,144			132,133			136,123			131,644			136,439

Income-based government grants (GAAP)		$	61,040		$	53,631		$	24,329		$	114,671		$	42,946
	Incremental cost for manufacturing in U.S.		(19,528	)		(15,773	)		(5,950	)		(35,301	)		(10,832	)
Net IRA benefit (Non-GAAP)		$	41,512		$	37,858		$	18,379		$	79,370		$	32,114

Net cash provided by operating activities (GAAP)		$	26,629		$	48,414		$	127,062		$	75,043		$	176,263
	Purchases of property and equipment		(8,259	)		(14,608	)		(9,636	)		(22,867	)		(17,007	)
Free cash flow (Non-GAAP)		$	18,370		$	33,806		$	117,426		$	52,176		$	159,256

This press release was published by a CLEAR® Verified individual.

The MIL Network –

July 23, 2025

MIL-OSI USA: Hoeven Names Christa Kiedrowski as Regional Director In Bismarck

US Senate News:

Source: United States Senator for North Dakota John Hoeven
07.22.25
BISMARCK, N.D. – Senator John Hoeven today announced that Christa Kiedrowski will serve as his regional director for the south-central region of North Dakota. Based in Hoeven’s Bismarck office, Kiedrowski will manage outreach to 10 counties, helping with the senator’s efforts to assist constituents, businesses and community leaders in the region.
“We’re excited to have Christa step in as our regional director for North Dakota’s capital city and the surrounding region,” said Hoeven. “Throughout her career, she has been focused on building relationships in her community, whether through the stories she’s reported or the business clients she’s worked with. This experience will serve her well as we continue working to advance the priorities of families and businesses across the state.”
Since 2022, Kiedrowski has worked as an anchor, reporter and producer at KFYR TV. She earned a Bachelor’s degree in Broadcast Journalism and Mass Communications Technologies, with a minor in Public Relations, from North Dakota State University in 2011. She will be working from Hoeven’s office at 220 East Rosser Avenue, Room 312 in Bismarck and can be reached at 701-250-4618 or christa_kiedrowski@hoeven.senate.gov.

MIL OSI USA News –

July 23, 2025
MIL-OSI USA: Five Defendants Sentenced in Connection with Operating One of the Largest Illegal Television Show Streaming Services in the United States

Source: US State of North Dakota

Yesterday, the final judgments were issued for five Nevada men, including a citizen of Germany, who were sentenced on May 29 and 30 to terms of up to 84 months in prison for running Jetflicks, one of the largest illegal television streaming services in the United States.

“The defendants operated Jetflicks, an illegal paid streaming service that made available more television episodes than any licensed streaming service on the market,” said Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department’s Criminal Division. “This scheme generated millions of dollars in criminal profits, and hurt thousands of U.S. companies and individuals who owned the copyrights to these shows but never received a penny in compensation from Jetflicks. The sentences issued in this case demonstrate the Criminal Division’s commitment to protect American creativity and to ensure that large-scale infringers are brought to justice and punished for their crimes.”

“Digital crimes are not victimless crimes,” said U.S. Attorney Sigal Chattah for the District of Nevada. “The copyright owners lost millions of dollars as a result of the illegal paid streaming service. These sentences underscore our joint commitment with the Computer Crime and Intellectual Property Section and FBI to deter and disrupt intellectual property crime via thorough investigation and prosecution of those who violate federal intellectual property laws.”

“By building and running one of the largest unauthorized streaming services in the U.S., these individuals not only stole from content creators and legitimate streaming services, they undermined the integrity of our economy and the rule of law,” said Assistant Director Jose A. Perez of the FBI Criminal Investigative Division. “These sentencings are a reminder that illegal actions have consequences. The FBI and our partners are unwavering in our commitment to protect intellectual property rights and hold criminals accountable.”

After a 14-day trial that ended in June 2024, a federal jury in the District of Nevada convicted Kristopher Lee Dallmann, 42; Peter H. Huber, 67; Jared Edward Jaurequi, also known as Jared Edwards, 44; Felipe Garcia, 43; and Douglas M. Courson, 65, all of Las Vegas, of conspiracy to commit copyright infringement. The jury also convicted Dallmann of criminal copyright infringement by distribution, criminal copyright infringement by public performance, and money laundering. Subsequently, the court sentenced Dallmann to 84 months in prison; Huber to 18 months in prison; Jaurequi to time served (almost 5 months in prison), 180 days of home confinement, and 500 hours of community service; Garcia to three years probation with 49 days in prison and 1000 hours of community service; and Courson to three years probation with 48 days in prison.

According to court documents and evidence presented at trial, the defendants ran a site called Jetflicks, an online subscription-based service headquartered in Las Vegas, that permitted users to stream and at times download copyrighted television programs without the permission of the relevant copyright owners. At one point, Jetflicks claimed to have 183,285 different television episodes, significantly more than Netflix, Hulu, Vudu, Amazon Prime, or any other licensed streaming service. This was the largest internet piracy case — as measured by the estimated total infringement amount and total number of infringements — ever to go to trial as well as the first illegal streaming case ever to go to trial. The defendants’ conduct harmed every major copyright owner of a television program in the United States. Copyright owners lost millions of dollars from the operation.

Evidence presented at trial showed that the defendants used automated software and computer scripts that ran constantly to scour sites around the world hosting pirated content. The software and scripts would download, process, and store illegal content, and then make it immediately available on servers in the United States and Canada to tens of thousands of paid subscribers located throughout the United States for streaming and/or downloading. The defendants often delivered episodes to subscribers the day after the shows originally aired on television. The service was not only available to subscribers over the internet but specifically designed to work on many different types of devices, platforms, and software.

Each defendant performed at least one and often multiple roles at Jetflicks including management, computer programming and coding, design of the website, applications, and customer interface, technical assistance, content acquisition, subscriptions and revenue, and customer support.

Dallmann reaped millions of dollars in profit from the operation. The government conservatively estimated the value of the copyright infringement in the case at $37.5 million. This included the approximate retail value of the defendants’ reproduction of infringing works to create the Jetflicks inventory as well as the approximate retail value of the streams of pirated television episodes that the defendants provided to subscribers.

The five defendants sentenced were among eight defendants originally indicted in the Eastern District of Virginia in connection with operating Jetflicks. In addition to the defendants just sentenced in Nevada, defendant Darryl Polo previously pleaded guilty in the Eastern District of Virginia to four counts of criminal copyright infringement and one count of money laundering for his involvement with Jetflicks as well as an equally large illegal streaming site he ran called iStreamItAll. Similarly, defendant Luis Villarino also previously pleaded guilty in the Eastern District of Virginia to conspiracy to commit criminal copyright infringement. In May 2021, a judge in the U.S. District Court for the District of Virginia sentenced Polo and Villarino to, respectively, 57 months in prison and 12 months and a day in prison.

After the case was transferred to the District of Nevada for trial, defendant Yoany Vaillant was tried separately from the other five remaining defendants. In November 2024, after an eight-day trial, a federal jury convicted Vaillant of conspiracy to commit criminal copyright infringement. Vaillant is scheduled to be sentenced on Sept. 4.

The FBI Washington Field Office investigated the case, with assistance from the FBI Las Vegas Field Office.

Senior Counsel Matthew A. Lamberti, Trial Attorney Michael Christin, and Acting Deputy Chief Christopher S. Merriam of the Criminal Division’s Computer Crime and Intellectual Property Section (CCIPS) and Assistant U.S. Attorneys Jessica Oliva and Edward G. Veronda for the District of Nevada are prosecuting the case. The CCIPS Cybercrime Lab, the Justice Department’s Office of International Affairs, and the Royal Canadian Mounted Police in Canada provided significant assistance.

MIL OSI USA News –

July 23, 2025
MIL-OSI Security: Five Defendants Sentenced in Connection with Operating One of the Largest Illegal Television Show Streaming Services in the United States

Source: United States Attorneys General

Yesterday, the final judgments were issued for five Nevada men, including a citizen of Germany, who were sentenced on May 29 and 30 to terms of up to 84 months in prison for running Jetflicks, one of the largest illegal television streaming services in the United States.

“The defendants operated Jetflicks, an illegal paid streaming service that made available more television episodes than any licensed streaming service on the market,” said Acting Assistant Attorney General Matthew R. Galeotti of the Justice Department’s Criminal Division. “This scheme generated millions of dollars in criminal profits, and hurt thousands of U.S. companies and individuals who owned the copyrights to these shows but never received a penny in compensation from Jetflicks. The sentences issued in this case demonstrate the Criminal Division’s commitment to protect American creativity and to ensure that large-scale infringers are brought to justice and punished for their crimes.”

“Digital crimes are not victimless crimes,” said U.S. Attorney Sigal Chattah for the District of Nevada. “The copyright owners lost millions of dollars as a result of the illegal paid streaming service. These sentences underscore our joint commitment with the Computer Crime and Intellectual Property Section and FBI to deter and disrupt intellectual property crime via thorough investigation and prosecution of those who violate federal intellectual property laws.”

“By building and running one of the largest unauthorized streaming services in the U.S., these individuals not only stole from content creators and legitimate streaming services, they undermined the integrity of our economy and the rule of law,” said Assistant Director Jose A. Perez of the FBI Criminal Investigative Division. “These sentencings are a reminder that illegal actions have consequences. The FBI and our partners are unwavering in our commitment to protect intellectual property rights and hold criminals accountable.”

After a 14-day trial that ended in June 2024, a federal jury in the District of Nevada convicted Kristopher Lee Dallmann, 42; Peter H. Huber, 67; Jared Edward Jaurequi, also known as Jared Edwards, 44; Felipe Garcia, 43; and Douglas M. Courson, 65, all of Las Vegas, of conspiracy to commit copyright infringement. The jury also convicted Dallmann of criminal copyright infringement by distribution, criminal copyright infringement by public performance, and money laundering. Subsequently, the court sentenced Dallmann to 84 months in prison; Huber to 18 months in prison; Jaurequi to time served (almost 5 months in prison), 180 days of home confinement, and 500 hours of community service; Garcia to three years probation with 49 days in prison and 1000 hours of community service; and Courson to three years probation with 48 days in prison.

According to court documents and evidence presented at trial, the defendants ran a site called Jetflicks, an online subscription-based service headquartered in Las Vegas, that permitted users to stream and at times download copyrighted television programs without the permission of the relevant copyright owners. At one point, Jetflicks claimed to have 183,285 different television episodes, significantly more than Netflix, Hulu, Vudu, Amazon Prime, or any other licensed streaming service. This was the largest internet piracy case — as measured by the estimated total infringement amount and total number of infringements — ever to go to trial as well as the first illegal streaming case ever to go to trial. The defendants’ conduct harmed every major copyright owner of a television program in the United States. Copyright owners lost millions of dollars from the operation.

Evidence presented at trial showed that the defendants used automated software and computer scripts that ran constantly to scour sites around the world hosting pirated content. The software and scripts would download, process, and store illegal content, and then make it immediately available on servers in the United States and Canada to tens of thousands of paid subscribers located throughout the United States for streaming and/or downloading. The defendants often delivered episodes to subscribers the day after the shows originally aired on television. The service was not only available to subscribers over the internet but specifically designed to work on many different types of devices, platforms, and software.

Each defendant performed at least one and often multiple roles at Jetflicks including management, computer programming and coding, design of the website, applications, and customer interface, technical assistance, content acquisition, subscriptions and revenue, and customer support.

Dallmann reaped millions of dollars in profit from the operation. The government conservatively estimated the value of the copyright infringement in the case at $37.5 million. This included the approximate retail value of the defendants’ reproduction of infringing works to create the Jetflicks inventory as well as the approximate retail value of the streams of pirated television episodes that the defendants provided to subscribers.

The five defendants sentenced were among eight defendants originally indicted in the Eastern District of Virginia in connection with operating Jetflicks. In addition to the defendants just sentenced in Nevada, defendant Darryl Polo previously pleaded guilty in the Eastern District of Virginia to four counts of criminal copyright infringement and one count of money laundering for his involvement with Jetflicks as well as an equally large illegal streaming site he ran called iStreamItAll. Similarly, defendant Luis Villarino also previously pleaded guilty in the Eastern District of Virginia to conspiracy to commit criminal copyright infringement. In May 2021, a judge in the U.S. District Court for the District of Virginia sentenced Polo and Villarino to, respectively, 57 months in prison and 12 months and a day in prison.

After the case was transferred to the District of Nevada for trial, defendant Yoany Vaillant was tried separately from the other five remaining defendants. In November 2024, after an eight-day trial, a federal jury convicted Vaillant of conspiracy to commit criminal copyright infringement. Vaillant is scheduled to be sentenced on Sept. 4.

The FBI Washington Field Office investigated the case, with assistance from the FBI Las Vegas Field Office.

Senior Counsel Matthew A. Lamberti, Trial Attorney Michael Christin, and Acting Deputy Chief Christopher S. Merriam of the Criminal Division’s Computer Crime and Intellectual Property Section (CCIPS) and Assistant U.S. Attorneys Jessica Oliva and Edward G. Veronda for the District of Nevada are prosecuting the case. The CCIPS Cybercrime Lab, the Justice Department’s Office of International Affairs, and the Royal Canadian Mounted Police in Canada provided significant assistance.

MIL Security OSI –

July 23, 2025
MIL-OSI United Nations: Programme Management Officer, P-4
Source: UNISDR Disaster Risk Reduction

Apply here

Org. Setting and Reporting

Created in December 1999, the United Nations Office for Disaster Risk Reduction (UNDRR) is the designated focal point in the United Nations system for the coordination of efforts to reduce disasters and to ensure synergies among the disaster reduction activities of the United Nations and regional organizations and activities in both developed and less developed countries. Led by the United Nations Special Representative of the Secretary-General for Disaster Risk Reduction (SRSG), UNDRR has over 140 staff located in its headquarters in Geneva, Switzerland, and in regional offices. Specifically, UNDRR guides, monitors, analyses and reports on progress in the implementation of the Sendai Framework for Disaster Risk Reduction 2015-2030, supports regional and national implementation of the Framework and catalyzes action and increases global awareness to reduce disaster risk working with UN Member States and a broad range of partners and stakeholders, including civil society, the private sector, parliamentarians and the science and technology community.

This position is located in the UNDRR Office in Bonn, Germany. The Programme Officer will report to the Head of the UNDRR Bonn Office under the overall guidance of the Chief, Risk Knowledge, Monitoring and Capacity-Development Branch.

Responsibilities

Within delegated authority, the incumbent will be responsible for the following duties: –
- Develops, implements and evaluates assigned systems programmes/projects of significant importance for the Department; monitors and analyses programme/project development and implementation; reviews relevant documents and reports; identifies problems and issues to be addressed and initiates corrective actions; liaises with relevant parties; ensures follow-up actions. In particular, oversees and supports the management and updating of the online monitoring system to track progress in the implementation of the Sendai Framework for Disaster Risk Reduction. Tracks and monitors project progress against plan, requirements, quality measures, standard processes; liaises with users on all aspects and during all phases.
- Provides expert advice on complex systems analysis and design; identifies the need for new systems (or modifications to existing systems) or responds to requests from users; develops plans for feasibility assessment, requirements specification, design, development and implementation, including project plans, schedules, time and cost estimates, metrics and performance measures. –
- Provides expert advice and coordinates the roll-out of the Disaster Tracking System in all Member States, liaising with the concerned regional offices. Keeps abreast of developments in the field and determines the need for testing and evaluating new products and technologies. –
- Leads and coordinates the official reporting on Sendai Framework and SDGs, among others, and organizes and prepares written outputs, e.g. draft background papers, analysis, sections of reports and studies, inputs to publications, technical reports, including advance analytics using AI-based tools.
- Develops, implements and monitors application of standards and guidelines. Oversees the preparation of technical and user documentation for systems; prepares training materials and detailed technical presentations including technical guidelines to support the reporting against the indicators to assess progress towards the targets of Sendai Framework, as recommended by the open-ended intergovernmental expert working group on indicators and terminology. Works in close collaboration with the UNDRR Global Education and Training Institute (GETI) in Incheon and contributes to the development of training modules on Sendai Framework Monitoring Process. Collaborates and coordinates closely with UNDRR Regional Offices in support of strengthening the capacity of Member States to use the online Sendai Framework Monitoring system and their ability to report against the indicators. –
- Provides substantive backstopping to consultative and other meetings, conferences, etc., to include proposing agenda topics, identifying participants, preparation of documents and presentations, etc. –
- Participates in planning and preparation of the budget, work program and spending plan of the Section and of the Branch. Contributes to activities related to budget funding (programme/project preparation and submissions, progress reports, financial statements, etc.) and prepares related documents/reports (pledging, work programme, programme budget, etc.). Develops cost proposals for contractual services, oversees the technical evaluation of proposals received and manages the contract service. Provides professional leadership and work direction to assigned project team, and/or mentor and supervises the work of new/junior officers, contract staff, etc. – Performs other duties as required.
Competencies

Professionalism: Knowledge and understanding of theories, concepts and approaches relevant to particular sector, functional area or other specialized field. Ability to identify issues, analyze and participate in the resolution of issues/problems. Ability to conduct data collection using various methods. Conceptual analytical and evaluative skills to conduct independent research and analysis, including familiarity with and experience in the use of various research sources, including electronic sources on the internet, intranet and other databases. Ability to apply judgment in the context of assignments given, plan own work and manage conflicting priorities. Shows pride in work and in achievements; demonstrates professional competence and mastery of subject matter; is conscientious and efficient in meeting commitments, observing deadlines and achieving results; is motivated by professional rather than personal concerns; shows persistence when faced with difficult problems or challenges; remains calm in stressful situations. Takes responsibility for incorporating gender perspectives and ensuring the equal participation of women and men in all areas of work. Planning & Organizing: Develops clear goals that are consistent with agreed strategies; identifies priority activities and assignments; adjusts priorities as required; allocates appropriate amount of time and resources for completing work; foresees risks and allows for contingencies when planning; monitors and adjusts plans and actions as necessary; uses time efficiently.

Accountability: Takes ownership of all responsibilities and honours commitments; delivers outputs for which one has responsibility within prescribed time, cost and quality standards; operates in compliance with organizational regulations and rules; supports subordinates, provides oversight and takes responsibility for delegated assignments; takes personal responsibility for his/her own shortcomings and those of the work unit, where applicable.

Client Orientation: Considers all those to whom services are provided to be “clients” and seeks to see things from clients’ point of view; establishes and maintains productive partnerships with clients by gaining their trust and respect; identifies clients’ needs and matches them to appropriate solutions; monitors ongoing developments inside and outside the clients’ environment to keep informed and anticipate problems; keeps clients informed of progress or setbacks in projects; meets timeline for delivery of products or services to client.

Education

An advanced university degree (Master’s degree or equivalent degree) in social sciences, management, economics, statistics or a related field is required. A first-level degree in combination with two additional years of qualifying experience may be accepted in lieu of the advanced degree.

Work experience
- A minimum of seven years of progressively responsible experience in project planning, implementation and monitoring or a related area is required.
- Experience in disaster risk assessment and monitoring, and disaster risk reduction is required.
- Experience in data management and statistics is desirable.
Languages

English and French are the working languages of the United Nations Secretariat. For the position advertised, fluency in English is required. Knowledge of French is desirable. Knowledge of another UN official language is desirable.

Assessment

Evaluation of qualified candidates may include an assessment exercise which will be followed by a competency-based interview.

Special notice

The appointment or assignment and renewal thereof are subject to the availability of the post or funds, budgetary approval or extension of the mandate. At the United Nations, the paramount consideration in the recruitment and employment of staff is the necessity of securing the highest standards of efficiency, competence and integrity, with due regard to geographic diversity. All employment decisions are made on the basis of qualifications and organizational needs. The United Nations is committed to creating a diverse and inclusive environment of mutual respect. The United Nations recruits and employs staff regardless of gender identity, sexual orientation, race, religious, cultural and ethnic backgrounds or disabilities. Reasonable accommodation for applicants with disabilities may be provided to support participation in the recruitment process when requested and indicated in the application. The United Nations Secretariat is committed to achieving 50/50 gender balance and geographical diversity in its staff. Female candidates are strongly encouraged to apply for this position. In line with the overall United Nations policy, the UN Office for Disaster Risk Reduction encourages a positive workplace culture which embraces inclusivity and leverages diversity within its workforce. Measures are applied to enable all staff members to contribute equally and fully to the work and development of the organization, including flexible working arrangements, family-friendly policies and standards of conduct. Individual contractors and consultants who have worked within the UN Secretariat in the last six months, irrespective of the administering entity, are ineligible to apply for professional and higher, temporary or fixed-term positions and their applications will not be considered.

United Nations Considerations

According to article 101, paragraph 3, of the Charter of the United Nations, the paramount consideration in the employment of the staff is the necessity of securing the highest standards of efficiency, competence, and integrity. Candidates will not be considered for employment with the United Nations if they have committed violations of international human rights law, violations of international humanitarian law, sexual exploitation, sexual abuse, or sexual harassment, or if there are reasonable grounds to believe that they have been involved in the commission of any of these acts. The term “sexual exploitation” means any actual or attempted abuse of a position of vulnerability, differential power, or trust, for sexual purposes, including, but not limited to, profiting monetarily, socially or politically from the sexual exploitation of another. The term “sexual abuse” means the actual or threatened physical intrusion of a sexual nature, whether by force or under unequal or coercive conditions. The term “sexual harassment” means any unwelcome conduct of a sexual nature that might reasonably be expected or be perceived to cause offence or humiliation, when such conduct interferes with work, is made a condition of employment or creates an intimidating, hostile or offensive work environment, and when the gravity of the conduct warrants the termination of the perpetrator’s working relationship. Candidates who have committed crimes other than minor traffic offences may not be considered for employment. Due regard will be paid to the importance of recruiting the staff on as wide a geographical basis as possible. The United Nations places no restrictions on the eligibility of men and women to participate in any capacity and under conditions of equality in its principal and subsidiary organs. The United Nations Secretariat is a non-smoking environment. Reasonable accommodation may be provided to applicants with disabilities upon request, to support their participation in the recruitment process. The paramount consideration in the appointment, transfer, or promotion of staff shall be the necessity of securing the highest standards of efficiency, competence, and integrity. By accepting an offer of appointment, United Nations staff members are subject to the authority of the Secretary-General and assignment by him or her to any activities or offices of the United Nations in accordance with staff regulation 1.2 (c). In this context, all internationally recruited staff members shall be required to move periodically to discharge new functions within or across duty stations under conditions established by the Secretary-General. Applicants are urged to follow carefully all instructions available in the online recruitment platform, inspira. For more detailed guidance, applicants may refer to the Manual for the Applicant, which can be accessed by clicking on “Manuals” hyper-link on the upper right side of the inspira account-holder homepage. The evaluation of applicants will be conducted on the basis of the information submitted in the application according to the evaluation criteria of the job opening and the applicable internal legislations of the United Nations including the Charter of the United Nations, resolutions of the General Assembly, the Staff Regulations and Rules, administrative issuances and guidelines. Applicants must provide complete and accurate information pertaining to their personal profile and qualifications according to the instructions provided in inspira to be considered for the current job opening. No amendment, addition, deletion, revision or modification shall be made to applications that have been submitted. Candidates under serious consideration for selection will be subject to reference checks to verify the information provided in the application. Job openings advertised on the Careers Portal will be removed at 11:59 p.m. (New York time) on the deadline date.

No Fee

THE UNITED NATIONS DOES NOT CHARGE A FEE AT ANY STAGE OF THE RECRUITMENT PROCESS (APPLICATION, INTERVIEW MEETING, PROCESSING, OR TRAINING). THE UNITED NATIONS DOES NOT CONCERN ITSELF WITH INFORMATION ON APPLICANTS’ BANK ACCOUNTS.

Apply here

MIL OSI United Nations News –
July 23, 2025
MIL-OSI Economics: Windows 11 is the home for AI on the PC, with more experiences available today
Source: Microsoft

Headline: Windows 11 is the home for AI on the PC, with more experiences available today

AI is changing the way we use our PCs. According to a new consumer AI report commissioned by Microsoft, nearly 60% of people report using generative AI for work and business purposes in the past year. Even more (64%) report using AI for hobbies and personal interests like art, music and DIY projects.

As the world adapts to this new era of AI infused with daily life, Windows is here to meet you where you are, with intuitive experiences built in to make what you already do on your PC even easier.

Windows 11 is the home for AI, offering the most expansive and capable AI experiences for consumers today on Copilot+ PCs—with exclusive AI superpowers like Recall (preview), Click to Do (preview) and improved Windows search, as well as groundbreaking new ways to interact with your PC, like Copilot Vision on Windows, all available now.

Today, we continue to make new experiences generally available for Windows 11 and Copilot+ PC users that make Windows more intuitive, more accessible and ultimately more useful.

Read on to discover what’s available and how to get started using these experiences today.

Changing Windows Settings has never been easier, with Windows’ first agent

It’s never been easier to adjust your settings in Windows. Now on Copilot+ PCs, you can use your own words in the settings search box to describe something you’d like to change, and instantly get recommendations, including actions to adjust the relevant setting with one click.

This is made possible through the new agent in Settings, Windows’ first agent optimized for Copilot+ PCs.

Hundreds of settings across displays, connectivity, accessibility and much more are now customizable through the agent in Settings, with the ability to enable or undo any setting you change.

To use the agent in Settings:
1. Open Settings from the Taskbar or Start Menu
2. Type in the Settings search box what you want to change using your own words, such as “I want to enable quiet hours” or “connect Bluetooth device.” For some settings, you can even make specific requests, such “change my resolution to 1920×1080.”
3. If the agent can make the change, it will offer an option to complete the action to change the setting, as well as an option to undo any setting you change.
4. When settings are unable to be adjusted by the agent, improved Windows search will surface relevant settings to help you get closer to what you’re looking for, faster.
The agent in Settings begins to become available starting today for Windows customers using English on Snapdragon-powered Copilot+ PCs, with availability on Intel and AMD devices coming at a later dateⁱ.

Learn more about how you can use Settings agent and other Windows features like Copilot Vision on Windows to troubleshoot your PC.

Do even more with Click to Do (preview)

Click to Do keeps you in the flow to get things done faster, providing contextual actions to text and images on your screen.

After invoking Click to Do, relevant text or visual actions will appear that include the ability to prompt Copilot, search the web, create bulleted lists, start a draft of a document or email, or even schedule a Teams meeting—all without leaving your current window.

New actions available starting today includeⁱⁱ:
- Practice in Reading Coachⁱⁱⁱ is a new Click to Do text action that helps you improve reading fluency and pronunciation. Select text on your screen, choose Practice in Reading Coach, and read the text aloud. Reading Coach gives you feedback and shows where to improve.
- Read with Immersive Reader is a new text action in Click to Do that displays text in a focused, distraction-free environment. It helps improve reading and writing for all skill levels and abilities. You can adjust text size, spacing, font and background theme, have text read aloud, break words into syllables and highlight parts of speech. The picture dictionary shows images for unfamiliar words.
- Draft with Copilot in Word^iv is a new text action enabling you to quickly turn any recognized text into a full draft. Whether it’s a sentence in an email or a snippet on your screen, press Win + Click on the recognized text, then select Draft with Copilot in Word. No more blank pages. No more writer’s block. Just momentum.
- Click to Do now supports actions through Microsoft Teams. When you select an email address recognized by Click to Do on your screen, you can choose to send a Teams message or schedule a Teams meeting. These options make it easy to ask a question or set up time to talk without interrupting your workflow.
To get started with Click to Do:
1. Press the Windows key + mouse click, Windows key + Q, or access through the Start menu and Snipping Tool.
2. Click to Do also supports hardware-specific options like double clicking your pen on your pen-capable device or swiping from the right with your pen or finger on your touch screen.
3. Learn more about all the ways you can use Click to Do to get more done on your Copilot+ PC.
Photos relight brings professional lighting controls to your pictures

Relight in the Photos app brings professional lighting controls to your snapshots. Open any image in Photos, select Edit > Relight, and then click to place up to three virtual light sources around your subject.

Adjust each light’s intensity, color and position with simple sliders, or choose from built-in presets like “Studio Portrait” and “Cinematic Glow.”

To use relight in Photos:
1. Open the Photos app and select the image you want to relight.
2. Select Edit, then select Relight from the available options.
3. Choose one of the lighting presets, and optionally customize each light’s location, brightness, softness or color, and the overall intensity of the effect.
Learn more about tips to get the most out of your photos.

This feature is available now on Copilot+ PCs with Snapdragon X Series processors, with support for Copilot+ PCs powered by Intel and AMD coming soon.

Paint adds even more creative capabilities with sticker generator and object select

In May, we introduced multiple enhancements to elevate your creative experience, now available on Copilot+ PCs.

Sticker generator^v is a new AI-powered feature in Paint that lets you create custom stickers by simply typing a prompt. To get started, click on the Sticker generator button in the Copilot menu. From there, you can type in a description of the sticker you want to create, like “a cat wearing sunglasses,” and hit the Generate button.

Paint will then generate a set of unique stickers based on your prompt. Once the stickers are generated, you can click on any one of them to instantly apply it to your canvas, copy the sticker for use in other applications, or save it for later. To access your recently generated stickers, click on the new Stickers option in the Paint toolbar.

We’re also releasing object select, a smart selection tool that uses AI to help you isolate and edit individual elements in your image. To get started, click on the Object select tool in the toolbar and simply pinpoint specific elements on the canvas to select and make edits instantly.

To use the new updates in Paint:
1. Open the Paint app.
2. Explore the new welcome experience to learn more about features like Cocreator, generative erase, sticker generator, object select and Layers.
3. Try out the new sticker generator and object select features.
Be more productive with Snipping Tool perfect screenshot and color picker

Snipping Tool’s screen capture and perfect screenshot capturing a specific area of the screen.

We’ve also added two new features to Snipping Tool—perfect screenshot and color picker.

Perfect screenshot is a new AI-powered feature exclusive to Copilot+ PCs that allows you to precisely capture content on your screen with the Snipping Tool app without the need to crop or resize it post-capture.

To try Snipping Tool perfect screenshot:
1. Invoke the Snipping Tool capture toolbar from within the app or by using the Print Screen keyboard shortcut.
2. Select the Perfect screenshot button from the toolbar when in rectangle mode and start selecting a region of your screen.
3. Once activated, perfect screenshot will intelligently resize based on the content in your selection. You can also quickly enable perfect screenshot by holding the Ctrl keyboard shortcut after invoking Snipping Tool while selecting a region of your screen.
4. Move or edit the area before confirming your capture, ensuring you get the perfect screenshot every time!
For all Windows 11 PCs, we have also added the ability to easily identify and capture colors seen on your screen through the introduction of color picker. Color picker is great for anyone who might need to quickly match a color you see on your screen as part of a project—whether that be designers, developers or everyday color aficionados.

Snipping Tool’s color picker tool selecting a color on the screen to inspect.

To try color picker in Snipping Tool:
1. Invoke the Snipping Tool capture toolbar from within the app or by using the Print Screen keyboard shortcut.
2. Select Color picker from the toolbar and then inspect or select a color code on your screen, choosing from HEX, RGB or HSL values. Need to be more precise? You can zoom by scrolling in on your pointer or using by using the Ctrl +/- keyboard shortcuts.
Do more with Microsoft Copilot and Edge on Windows 11

Copilot Vision on Windows, now available in the U.S., is a new way to engage with your Windows 11 PC. When you enable it, it can see what you see on your device and talk to you about it in real time.

It acts as your second set of eyes, able to analyze content, help when you’re lost, provide insights and answer your questions as you go. Whether you’re browsing, working or deep in a project, Copilot Vision offers instant insights and answers.

And with Highlights, you can go a step further and ask Copilot “show me how” for a specific task and it will show you within the app you’re in where to click and what to do. On Windows, Copilot can help you navigate multiple apps at once, including your full desktop, serving as a true companion to help you accomplish any task.

To get started with Copilot Vision on Windows:
1. Open the Copilot app and click the glasses icon in your composer.
2. Select which browser window or app you want to share.
3. Ask Copilot to help with whatever you’re working on. To stop sharing, press ‘Stop’ or ‘X’ in the composer. It’s a fully opt-in experience that always puts you at the controls.
Microsoft Edge is also the only browser built for Windows, offering the most seamless PC browsing experience with AI-powered tools, productivity features, and built-in performance and security features that help you browse quickly and safely.

With features like Edge Game Assist, now available on Windows 11^vi, you can get tips and guides for many of the top PC games, easy access to essential sites like Discord, Spotify, and Twitch, and more — all right in your game.

To use Edge Game Assist, simply press Win+G to open Game Bar and start using Microsoft Edge for a seamless and immersive gaming experience.

Learn more about how you can get the most out of Edge on Windows.

Making the unexpected easier with faster recovery

Unexpected restarts are frustrating, that’s why starting today, people will begin to experience several improvements that make this experience quicker and more user friendly so you can pick up right where you left off.

With quick machine recovery, a new recovery mechanism for Windows 11 PCs, your PC will automatically detect and fix widespread issues during an unexpected restart using the Windows Recovery Environment (WinRE).

We’ve also streamlined the unexpected restart experience, reducing the time users spend on the screen from 40 seconds to just 2 seconds for most consumer devices on Windows 11, version 24H2.^vii

As part of these changes, we also made an update to how our interface appears during an unexpected restart, introducing a simplified user interface (UI) that pairs with the shortened experience to display a more readable layout while keeping the technical details visible.

Learn more about the changes to the unexpected restart experience here.

Move forward with Windows 11

From modern security to faster performance and the latest features and experiences, Windows 11 is built to help you work, play and create with ease. With support for Windows 10 ending on Oct. 14, 2025, we’re here to ensure your transition is smooth, secure and up to date.

We understand that moving to a new PC can take time, and we’re here to support you throughout the process. The Windows 10 Extended Security Updates (ESU) program is designed to keep your current Windows 10 PC protected after support ends—helping you stay secure during the transition.

Starting today, individuals will begin to see an enrollment wizard through notifications and in Settings, making it simple to select the best option for you and enroll in ESU directly from your personal Windows 10 PC.

Learn more about Windows 10 end of support and explore the tools and resources available to help you transition with confidence.

How to get these updates

Over the next month, we will be gradually rolling out several of these features via controlled feature rollout (CFR) to consumers. Some of these experiences are available today via this month’s Windows non-security preview update, as well as updates available in the Microsoft Store.

Consumers who would like to be among the first to experience new enhancements can simply go to Settings > Windows Update and turn on “Get the latest updates as soon as they’re available.” Then select “Check for updates” to download and install the most recent non-security preview release.

Ensure that Microsoft Paint, Photos and Copilot applications are updated to the latest versions available.

For a full list of features available via today’s Windows Update, learn more here.

End notes:

i Available now in most global markets on Copilot+ PCs with Snapdragon® X Series. Limited initially to English-language inputs. See aka.ms/copilotpluspcs processors.

ii These Click to Do actions are not available in the European Economic Area.

iii To use this feature, install the free Microsoft Reading Coach app from the Microsoft Store.

iv For “Draft with Copilot in Word” – a Microsoft 365 Copilot subscription is required.

v Optimized for English text prompts and requires a Microsoft account and internet connection to access cloud services that help ensure the responsible use of AI.

vi Game Assist is available where Edge is available. Enhanced game content is available English-only at this time. Game Assist experience may also vary depending on game and geography.

vii Source: Internal testing of Windows 11 memory dump write speed, October 2022.
MIL OSI Economics –
July 23, 2025
MIL-OSI USA: U.S. Rep. Castor Reintroduces Bipartisan Legislation to Finally Put Zombie Campaigns in the Grave

Source: United States House of Representatives – Reprepsentative Kathy Castor (FL14)

WASHINGTON, D.C. – Today, U.S. Reps. Kathy Castor (FL-14), Gus Bilirakis (FL-12) and Jamie Raskin (MD-08) reintroduced the bipartisan Honest Elections and Campaign, No Gain Act (HEC No), bipartisan legislation requiring former lawmakers and others no longer seeking office to close their campaign accounts within two years, instead of living on as zombie campaigns.

“Campaign accounts should never be allowed to become personal slush funds for ex-lawmakers and former candidates to personally benefit from and enrich themselves, as has become all too common,” said Rep. Kathy Castor (FL-14). “Our bipartisan HEC No Act will finally put an end to the misuse of leftover campaign cash. This is a straightforward reform to build trust and ensure campaign contributions are used as intended — to support public service and serve the public interest, not private gain. It’s time Congress passed the HEC No Act to put Zombie Campaigns in the grave once and for all.”

“Elected officials have a duty to uphold the public trust,” said Rep. Gus Bilirakis (FL-12). “Unfortunately, we’ve seen troubling cases where former members keep their campaign accounts open indefinitely and use the funds for personal benefit. While these actions may not technically violate the law, they clearly defy its spirit — and that’s unacceptable. It’s time to close this loophole and restore public confidence.”

“As elected representatives of the people, members of Congress must preserve public trust, even after they leave office,” said Rep. Jamie Raskin (MD-08). “The Honest Elections and Campaign Act stops zombie campaigns, requiring former lawmakers and others no longer seeking office to close their campaign accounts within two years. I’m proud to lead this bipartisan legislation with Representatives Castor and Bilirakis.”

“It’s wrong for former members of Congress to finance extravagant lifestyles with leftover campaign funds. It only serves to further erode the public’s faith in their elected officials. We applaud Rep. Castor for her bipartisan legislation to tackle this issue and commitment to fighting corruption and restoring trust in our system,” Tiffany Muller, President, End Citizens United // Let America Vote Action Fund.

“Both parties should agree: campaign accounts weren’t meant to be retirement plans. It’s time to close the loophole that lets former candidates hang on to leftover campaign cash indefinitely, often using it to boost lobbying careers. Congress can take a commonsense step toward restoring public trust by passing this long-overdue reform.” – Issue One.

“Campaign donors give money for the express purpose of helping promote the candidacy of a specific candidate. They are not handing over their generous donations to be used for other purposes by the candidate, such as funding a post-election lobby career or doling the funds out to other candidates in future elections. When a candidate decides not to run for federal office again, the campaign accounts should be properly closed. Public Citizen heartily endorses Rep. Castor’s ‘HEC No Act,’” said Craig Holman, Ph.D., Public Citizen.

Supporters of HEC No include Campaign Legal Center, Common Cause, End Citizens United, Issue One, Let America Vote Action Fund and Public Citizen.

For the past four sessions of Congress, U.S. Rep. Castor has introduced similar legislation after explosive reports by the Tampa Bay Times and WTSP Channel 10 detailing how several former members of Congress continued their campaign accounts years after their campaigns ended, using the funds to pay personal expenses and employ family members. New reporting, published last week, details the “lavish spending” of campaign dollars by a former lawmaker on music festivals, winery visits, ski trips, hotel stays, airfare, and more.

MIL OSI USA News –

July 23, 2025
MIL-OSI: Buffalo Run Casino & Resort Selects QCI Go to Empower Hosts and Enhance Guest Engagement

Source: GlobeNewswire (MIL-OSI)

SAN DIEGO, July 22, 2025 (GLOBE NEWSWIRE) — Buffalo Run Casino & Resort has chosen Quick Custom Intelligence’s (QCI) Go, a native mobile app designed specifically for casino hosts, to elevate host productivity and deliver a superior guest experience.

QCI Go provides hosts with powerful tools including player card scanning, real-time player lookup, seamless access to QCI Meet and QCI Events, and robust task management features—all in a user-friendly mobile interface. By putting these capabilities directly in the hands of hosts, QCI Go enables faster service, deeper guest relationships, and greater operational efficiency on the casino floor.

Mary Jewett, Vice President and General Marketing at Buffalo Run Casino & Resort, expressed excitement about the implementation:
“Bringing QCI Go to Buffalo Run Casino & Resort represents a significant advancement in how we empower our hosts to serve guests. With mobile access to key player information, events, and task management, our team can deliver personalized service in real time, enhancing both the guest experience and host effectiveness.”

Dr. Ralph Thomas, CEO of QCI, shared his perspective on the partnership:
“We are thrilled to deploy QCI Go at Buffalo Run Casino & Resort. By providing hosts with mobile access to the QCI platform, we enable them to deliver exceptional, timely service and foster stronger player relationships. This is a great example of how our mobile-first innovations help operators improve team productivity and guest satisfaction.”

QCI Go is part of Quick Custom Intelligence’s broader commitment to innovation in the gaming industry, providing operators with state-of-the-art tools that support host teams, streamline operations, and drive meaningful guest engagement.

ABOUT Buffalo Run Casino & Resort
Owned and operated by the Peoria Tribe of Indians of Oklahoma, Buffalo Run Casino & Resort is future-focused on a gaming entertainment experience that both excites and exceeds guest expectations. Maintaining its reputation for a clean and friendly environment, it empowers team members and continues to elevate hospitality and guest experiences by investing in team member training and career development programs. Consequently, this strategic reinvestment into team members and property has resulted in earning the vote for one of the Best and Brightest Companies in the Nation to work for in 2022.

Buffalo Run Casino & Resort has over 70,000 square feet of casino floor and features the area’s widest variety of slots and tables games. The resort also includes a non-smoking Hotel, Truckers Lounge with special amenities and offers, the Peoria Showplace in-door event center, the outdoor amphitheater, complimentary entertainment in the Backwoods Bar, an 18-hole championship golf course, two indoor Top Golf® bays, and a smoke-free high-end Player’s Lounge. Additionally, the Buffalo Run Casino & Resort offers three dining experiences including Coal Creek Restaurant with high-end cuisine, the Bistro with hand-tossed brick oven pizza, and the Backwoods Bar & Grill which claims the title for best in-house smoked barbecue in the area.

Ongoing advancements to the property include the Peoria Showplace remodel, Hotel updates and restaurant remodel with more to come. New technology has been implemented to streamline offer redemption for guests that include self-serve kiosks for dining and promotions, digital core mail pieces, and a mobile app for monthly promotional information. Updates on the casino floor include in-game bonuses and upgraded slots. Innovation and strategic marketing decisions are powered by data driven technology (QCI), empowering the casino to customize the guest experience and increase loyalty in a highly competitive market.

ABOUT QCI
Quick Custom Intelligence (QCI) has pioneered the revolutionary QCI Enterprise Platform, an artificial intelligence platform that seamlessly integrates player development, marketing, and gaming operations with powerful, real-time tools designed specifically for the gaming and hospitality industries. Our advanced, highly configurable software is deployed in over 250 casino resorts across North America, Australia, New Zealand, Canada, Latin America, and Europe. The QCI AGI Platform, which manages more than $35 billion in annual gross gaming revenue, stands as a best-in-class solution, whether on-premises, hybrid, or cloud-based, enabling fully coordinated activities across all aspects of gaming or hospitality operations. QCI’s data-driven, AI-powered software propels swift, informed decision-making vital in the ever-changing casino industry, assisting casinos in optimizing resources and profits, crafting effective marketing campaigns, and enhancing customer loyalty. QCI was co-founded by Dr. Ralph Thomas and Mr. Andrew Cardno and is based in San Diego, with additional offices in Las Vegas, St. Louis, Dallas, and Tulsa. Main phone number: (858) 299.5715. Visit us at www.quickcustomintelligence.com.

ABOUT Dr. Ralph Thomas
Dr. Ralph Thomas is the Co-Founder and Chief Executive Officer of Quick Custom Intelligence. Ralph is a product visionary in applied analytics and the founder of two companies that deliver solutions in casino gaming, education, and adult learning. As a gaming industry veteran, Dr. Thomas has substantial experience implementing analytics into single and multi-property gaming companies to drive tangible and measurable gains to the bottom line and has built business intelligence tools for multibillion-dollar casinos. Dr. Thomas is co-author of seven books and over 80 articles on applied analytics and data science in gaming, an inventor on dozens of patents, and understands gaming from raw data up through casino operations, giving him a unique, 360-degree view of the industry.

The MIL Network –

July 23, 2025
MIL-OSI Analysis: A Philosopher Looks at Clothes by Kate Moran is engaging and unpretentious – we need more philosophy books like this

Source: The Conversation – UK – By Sarah Richmond, Honorary Associate Professor of Philosophy, UCL

With a few exceptions, philosophers have had little to say about clothes. Maybe this is because the topic seems frivolous, or feminine, unworthy of the attention of a predominantly male collection of thinkers.

Perhaps, too, the transience of fashion, and the fact that clothes belong – quite literally – to the domain of mere appearance, also has something to do with it. In A Philosopher Looks at Clothes, an engaging and informative book, Kate Moran, philosophy professor at Brandeis University in the US, urges us to think again.

As Moran points out, clothing looms large in life. Every day we dress, deciding how many layers to wear and whether we need a coat – or might a cardigan suffice? We gaze critically at other people’s choices (“OMG, those shoes!”). We wonder how to rise to the challenge of an imminent Eurovision-themed party.

From a historical point of view, also, our species-specific recourse to clothes stretches back to the earliest human society. In mythical time, it begins with Adam’s and Eve’s discovery, in shame, that they were naked. If fashion is transient, clothes, per se, are not.

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Clothes, Moran tells us, serve three basic purposes: protection, modesty and decoration. At once, these introduce questions of deep philosophical interest. Are the purposes equally important? Why, throughout human history, have we refused to settle merely for protection, desiring for example that a hat should be of some favoured colour or shape? To what extent do our decorative choices express our personal identity? Do clothes ever qualify as works of art? Why is modesty an abiding concern, given that we all know the contours of the unclothed body?

In many contexts, and especially today, clothes invite ethical and political assessment. Clothes communicate a great deal of information about us, including our social position and the causes we espouse.

Read more:
A brief history of the slogan T-shirt

We may knowingly exploit this, choosing to flaunt an obviously expensive garment or to wear our football team’s scarf. In other cases the meanings are imposed. The uniforms forced on prisoners, for example, emphasise subordination and erase their individuality.

Poignantly, research into textile history has uncovered a streak of resistance in even the most ill-treated captives. In concentration camps during the second world war some prisoners altered their uniforms, or mended them, or added pockets. As Moran remarks, these actions were not just practical; their aim, too, was to “recover some sense of identity and dignity”.

Portrait of Friedrich Nietzsche by Edvard Munch (1906).
Thiel Gallery, Stockholm

In the brilliantly conceived series by Cambridge University Press to which this title belongs, each author discusses some general topic from a perspective that is philosophically informed and at the same time personal.

We need more books like these, to counteract the entrenched pretence of disinterestedness in philosophy. (Nietzsche, exceptionally, saw through it, denouncing philosophers as “advocates who do not want to be seen as such … sly spokesmen for prejudices that they christen as ‘truths’”.)

Knowledge of the significance, in an author’s life, of her subject-matter enriches the reader’s imaginative experience of a book. Describing herself as an “ardent hobbyist” who sews her own clothes, Moran provides an additional facet to her account of today’s fashion industry and its scandalous environmental costs.

The reader knows that Moran herself has found an alternative. This lends a certain authority to her judgement that, however futile it may seem for any one person to step off the fast-fashion bus: “There is an important moral difference between being inefficacious and being innocent.”

Moran shows how many areas of philosophy can illuminate the phenomenon of clothes: not only ethics and political thought, but also aesthetics, theories of communication, of personal identity, of gender and cultural appropriation.

For readers unfamiliar with academic philosophy, these forays offer a path into a rich conceptual landscape. Along the way, we are offered a multitude of riveting facts. Who would have guessed that pink has not always been for girls, and blue for boys? And there are pictures, too. My highlight was the “revenge dress” that Princess Diana wore to a gala dinner in the midst of hostilities with Charles, in a successful bid to divert press attention from his appearance on TV.

This article features references to books that have been included for editorial reasons, and may contain links to bookshop.org. If you click on one of the links and go on to buy something from bookshop.org The Conversation UK may earn a commission.

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

– ref. A Philosopher Looks at Clothes by Kate Moran is engaging and unpretentious – we need more philosophy books like this – https://theconversation.com/a-philosopher-looks-at-clothes-by-kate-moran-is-engaging-and-unpretentious-we-need-more-philosophy-books-like-this-260473

MIL OSI Analysis –

July 23, 2025
MIL-OSI Analysis: Farewell to summer? ‘Haze’ and ‘trash’ among Earth’s new seasons as climate change and pollution play havoc

Source: The Conversation – UK – By Felicia Liu, Lecturer (Assistant Professor) in Sustainability, University of York

Throughout history, people have viewed seasons as relatively stable, recurrent blocks of time that neatly align farming, cultural celebrations and routines with nature’s cycles. But the seasons as we know them are changing. Human activity is rapidly transforming the Earth, and once reliable seasonal patterns are becoming unfamiliar.

In our recent study, we argue that new seasons are surfacing. These emergent seasons are entirely novel and anthropogenic (in other words, made by humans).

Examples include “haze seasons” in the northern and equatorial nations of south-east Asia, when the sky is filled with smoke for several weeks. This is caused by widespread burning of vegetation to clear forests and make way for agriculture during particularly dry times of year.

Or there is the annual “trash season”, during which tidal patterns bring plastic to the shores of Bali, Indonesia, between November and March.

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At the same time, some seasons are disappearing altogether, with profound consequences for ecosystems and cultures. These extinct seasons can encompass drastically altered or terminated migratory animal behaviour, such as the decline of seabird breeding seasons in northern England.

Climate change is also calling time on traditional winter sport seasons by making snow scarcer in alpine regions.

Nature’s new rhythms

Perhaps more common are “syncopated seasons”. The changes are akin to new emphases on beats or off-beats in familiar music that capture the listener’s attention.

Syncopated seasons include hotter summers and milder winters in temperate climates, with increasingly frequent and severe extreme weather that exposes more people and ecosystems to stress.

The timings of key seasonal events, like when leaves fall or certain migratory species arrive, are becoming more unpredictable. We coined the term “arrhythmic seasons”, a concept borrowed from cardiology, to refer to abnormal rhythms which include earlier springs or breeding seasons, longer summers or growing seasons, and shorter winters or hibernating seasons.

Changing seasonal patterns throw the interdependent life cycles of plants and animals out of sync with each other, and disrupt the communities that are economically, socially and culturally dependent on them.

In northern Thailand, human activity has reshaped nature’s rhythms and affected the supply of water and food in turn. Communities along the Mekong river’s tributaries have relied on the seasonal flow of rivers to fish and farm for generations.

At first, upstream dams disrupted these cycles by blocking fish migration and preventing the accumulation of sediment that farms need for soil. More recently, climate change has shifted rainfall patterns and made dry seasons longer and rainy seasons shorter but more intense, bringing fires and further uncertainty to farmers.

Let’s rethink time

How we react to changing seasonal patterns can either worsen or improve environmental conditions. In south-east Asia, public awareness of the “haze season” has led to better forecasting, the installation of air filters in homes and the establishment of public health initiatives.

These efforts help communities adapt. But if society only uses adaptive fixes like these, it can make the haze worse over time by failing to tackle its root causes. By recognising this new season, societies might normalise the recurrence of haze and isolate anyone who demands the government and businesses deal with deforestation and burning.

Powerful institutions like these shape narratives about seasonal crises to minimise their responsibility and shift blame elsewhere. Understanding these dynamics is crucial to fostering accountability and ensuring fair responses.

The shifting seasons require us to rethink our relationship with time and the environment. Today, most of us think about time in terms of days, hours and minutes, which is a globalised standard used everywhere from smartphones to train timetables. But this way of keeping time forgets older and more local ways of understanding time – those that are shaped by natural rhythms, such as the arrival of the rainy season, or solar and lunar cycles, rooted in the lives and cultures of different communities.

Diverse perspectives, especially those from Indigenous knowledge systems, can enhance our ability to respond to environmental changes. Integrating alternative time-keeping methods into mainstream practices could foster fairer and more effective solutions to environmental problems.

Seasons are more than just divisions of time – they connect us with nature. Finding synchrony with changing seasonal rhythms is essential for building a sustainable future.

Don’t have time to read about climate change as much as you’d like?

Get a weekly roundup in your inbox instead. Every Wednesday, The Conversation’s environment editor writes Imagine, a short email that goes a little deeper into just one climate issue. Join the 45,000+ readers who’ve subscribed so far.

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

– ref. Farewell to summer? ‘Haze’ and ‘trash’ among Earth’s new seasons as climate change and pollution play havoc – https://theconversation.com/farewell-to-summer-haze-and-trash-among-earths-new-seasons-as-climate-change-and-pollution-play-havoc-260765

MIL OSI Analysis –

July 23, 2025
MIL-OSI: BoldSign® by Syncfusion® Earns 2025 SaaS Awards Finalist Honors and Five G2 Summer Badges

Source: GlobeNewswire (MIL-OSI)

RESEARCH TRIANGLE PARK, N.C., July 22, 2025 (GLOBE NEWSWIRE) — Syncfusion®, Inc., the enterprise technology provider of choice, today announced that its e-signature solution, BoldSign®, has been named a finalist in the 2025 SaaS Awards in multiple categories. Additionally, BoldSign has secured five Leader badges in G2’s Summer 2025 Grid® Reports.

BoldSign is a SaaS Awards Finalist in the Highest Customer Satisfaction with a SaaS Product and Best SaaS for Sustainability and Ethical Impact categories.

In the latest reports from leading review platform G2, BoldSign earned the following recognitions:

Additional information can be found on the BoldSign blog.

“BoldSign removes friction from everyday agreements while giving developers full control,” said Daniel Jebaraj, CEO of Syncfusion®. “Recognition from the SaaS Awards judges and hundreds of verified G2 reviewers affirms that BoldSign delivers real, measurable value through its thoughtful feature set, robust security, and developer-friendly approach.”

The SaaS Awards, operated by global cloud computing awards body The Cloud Awards, spotlight the most innovative and impactful cloud software worldwide. BoldSign is backed by enterprise-grade SOC 2®-certified security, industry-recognized customer support, qualified electronic signature support, and extensive integration capabilities. These enable development teams to embed modern, paper-free signing in any application while helping organizations reduce paper waste and meet sustainability goals.

BoldSign offers simple, flexible pricing (as well as a free plan), straightforward APIs, and a growing feature set, giving teams a faster, more affordable path to legally binding e-signatures. For more information or to start a free trial, visit boldsign.com.

About Syncfusion®, Inc.
Headquartered in the technology hub of Research Triangle Park, N.C., Syncfusion, Inc. delivers an award-winning ecosystem of developer control suites, embeddable BI platforms, and business software. Syncfusion was founded in 2001 with a single software component and a mission to support businesses of all sizes—from individual developers and start-ups to Fortune 500 enterprises. Though its pilot product, the Essential Studio® suite, has grown to over 1,900 developer controls, its mission remains the same. With offices in the U.S., India, and Kenya, Syncfusion prioritizes the customer experience by providing feature-rich solutions to help developers and enterprises solve complex problems, save money, and build high-performance, robust applications.

Contact: Brittany Kearns
Phone: 571-271-7211
Email: brittany@crossroadsb2b.com

The MIL Network –

July 23, 2025
MIL-OSI: GRANITESHARES YieldBOOST ETFs SURPASSES $120M AUM AS TRADING VOLUMES SURGE
Source: GlobeNewswire (MIL-OSI)
- YieldBOOST^TMETFs linked to tech stocks and Bitcoin drive increased AUM
- Growing interest in options income generating ETFs
NEW YORK, July 22, 2025 (GLOBE NEWSWIRE) — GraniteShares, an entrepreneurial ETF provider, today announces that its range of YieldBOOST^TM ETFs has surpassed $100m in assets under management (AUM), reaching $127.2 million at the close of market.

“YieldBOOST^TM ETFs are options-based income ETFs that aim to generate high weekly distributions for investors” said Will Rhind, Founder and CEO of GraniteShares. “We are experiencing huge demand for weekly income strategies that can provide large distributions in volatile markets”

GraniteShares YieldBOOST^TM ETFs are a suite of exchange-traded funds designed to generate high income through options-based strategies, primarily by selling put options on leveraged ETFs tied to specific assets, such as individual stocks (e.g., Tesla, NVIDIA), indices (e.g., S&P 500, Nasdaq-100), or cryptocurrencies (e.g., Bitcoin). These ETFs aim to provide investors with weekly income distributions while maintaining exposure to the performance of the underlying assets, subject to a cap on potential gains. The YieldBOOST family includes ETFs like TSYY (Tesla), NVYY (NVIDIA), XBTY (Bitcoin), YSPY (S&P 500) and TQQY (Nasdaq-100). The strategy involves selling put options to generate premium income and buying put options to mitigate extreme downside risks, aligning with GraniteShares’ philosophy of innovative, low-cost, and high-conviction investment solutions

The first YieldBOOST^TM ETF, the GraniteShares YieldBOOST TSLA ETF (TSYY) was launched in December 2024. TSYY is the most popular ETF so far by AUM. The suite has since continued to grow both in size of funds and popularity.

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

Media contact:

Gregory FCA for GraniteShares
Te’a Gray, 203-815-4514
graniteshares@gregoryfca.com

About GraniteShares:

GraniteShares is an award-winning global investment firm dedicated to creating and managing ETFs. Headquartered in New York City, GraniteShares provides products on U.S., U.K, German, French & Italian stock exchanges. The firm is a market leader in leveraged single-stock ETFs and provides innovative, cutting-edge investment solutions for the high-conviction investor. Graniteshares believes the future of investing lies at the nexus of alternative thinking, low fees, and disruptive product structures—the core of its high-conviction investment philosophy. The firm launched its first product in 2017 and is a fast-growing ETF issuer with approximately $10* Billion in assets under management spanning a full array of investment strategies.

*As of July 17, 2025

¹An option is a contract that gives the holder the right, but not the obligation to buy or sell a specific asset at a predetermined price on or before a specified date. Options are a type of derivative, meaning their value is derived from the underlying asset.

²A put option is a contract that gives the buyer the right, but not the obligation, to sell an underlying asset at a specified price (the strike price) by or on a specific fate (the expiration date).

RISK FACTORS & IMPORTANT INFORMATION

The Fund is newly launched and has risks associated with its limited operating history.

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Funds, please call (844) 476-8747. Read the prospectus or summary prospectus carefully before investing.

There is no guarantee that the Fun’s investment strategy will be properly implemented, and an investor may lose some or all of their investment.

An Investment in these Funds is not an investment in the Underlying ETFs’

The Fund’s strategy will cap its potential gain if the Underlying ETFs’ shares increase in value

The Fund’s strategy is subject to all potential losses if the Underlying ETFs share declines, which may not be offset by the income received by the Fund,

The Fund does not invest directly in the Underlying ETFs.

Investment in the Fund is not an investment in the Underlying Stock.

Fund shareholders are not entitled to any distribution paid by Underlying ETFs.

Shares are bought and sold at market price (not NAV) and are not individually redeemed from the ETF. There can be no guarantee that an active trading market for ETF shares will develop or be maintained, or that their listing will continue or remain unchanged. Buying or selling ETF shares on an exchange may require the payment of brokerage commissions, and frequent trading may incur brokerage costs that detract significantly from the returns.

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The MIL Network –
July 23, 2025
MIL-OSI Africa: Ghana’s security strategy has kept terror attacks at bay: what other countries can learn from its approach
Source: The Conversation – Africa – By Paa Kwesi Wolseley Prah, Postdoctoral Fellow, Dublin City University

Ghana stands out in west Africa as a nation that has not experienced terrorist attacks, even though it’s geographically close to countries that have. In Burkina Faso, Mali and Nigeria, extremist groups such as Boko Haram and Islamic State in West Africa (ISWAP) have wreaked havoc.

This resilience is not accidental. It is the result of deliberate counter-terrorism strategies employed by Ghana’s security institutions.

Ghana’s counter-terrorism framework was set out in 2020. It has four pillars: prevent, pre-empt, protect, and respond. The idea is to coordinate multiple agencies, including the Ghana Police Service, Ghana Immigration Service, Ghana Armed Forces and the National Intelligence Bureau.

These pillars guide strategies to address both immediate threats and underlying vulnerabilities. Poverty, religious radicalism and porous borders are common drivers of terrorism in west Africa.

I am an international security and global governance researcher. My co-author is a government and international studies scholar.

Four years ago we wrote a paper examining Ghana’s resilience against terrorist attacks. Our findings are still relevant given the increasing activities of terror groups in the west African region.

Read more: West Africa terror: why attacks on military bases are rising – and four ways to respond

We wanted to identify what works as a potential model for other countries.

Using a qualitative methodology, we interviewed stakeholders — including police officers, members of the armed forces, Muslim community leaders, and immigration officials. We also analysed the national framework for preventing and countering violent extremism and terrorism.

Our findings showed that Ghana’s success is traceable to an approach that integrates community engagement with advanced border technology, inter-agency training, media collaboration and intelligence operations. And it addresses both immediate and underlying threats.

We argue that Ghana’s ability to balance prevention with security offers solutions for stability in a geopolitically volatile region.

Read more: Ghana’s new president faces tough regional security problems: why he’s well-placed to tackle them

Community engagement

One of the standout strategies is community engagement. This serves multiple purposes, from guiding people away from extremism to gathering intelligence.

The Ghana Police Service, for instance, engages Muslim-dominated communities, known as “Zongos”, to counter radical Islamic ideologies that could be exploited by terrorist groups.

By collaborating with local religious leaders, police make communities aware of the dangers of radicalisation. They foster trust and encourage residents to report suspicious activities. This approach also works in tackling illegal arms circulation.

Ghana has an estimated 2.3 million small arms in circulation – 1.1 million of them illegally possessed. The availability of so many weapons fuels terrorist activities across west Africa.

Community based de-radicalisation aligns with global best practices. In Norway, for instance, it was used to disengage youth from extremist groups.

Technology at borders

Ghana’s border control management is another part of its counter-terrorism strategy. Ghana Immigration Service uses advanced security software and integrated systems like the “Immigration 360” system, designed to fully automate passenger processing and data management.

The system manages records of fingerprints and other data to improve reporting and intelligence sharing between Ghana Immigration and other security agencies.

The technology makes it possible to quickly identity individuals on terrorist watchlists and detects concealed goods. This helps prevent illegal cross-border movements.

There are gaps in Ghana’s defences, however. The influx of migrants fleeing extremist violence in Burkina Faso, Mali and Niger in 2024 highlights the urgency of scaling up investments in the technology.

Read more: West Africa could soon have a jihadist state – here’s why

Training for preparedness

Ghana combats new and varying forms of terrorism by uncovering trends and training personnel to deal with them.

A notable example was the six-day joint training in 2022 involving the Ghana Immigration Service, Police Service, Customs, Economic and Organised Crime Office, and the National Intelligence Bureau.

The country also works with regional neighbours like Burkina Faso, Togo and Benin, and partners such as the United States, through initiatives like “Operation Epic Guardian”.

Media as a strategic partner

Terrorists rely on media to amplify fear and publicise their causes. Ghana’s security agencies counter this tactic by actively engaging media houses to report accurately.

The Ghana Armed Forces, for instance, works with media to debunk false reports, which can cause public panic and inadvertently aid terrorists.

The Ghana Police Service emphasises regular dialogue with media to ensure sensitive information is verified before publication, reducing the risk of tipping off suspects. However, media competition for viewers poses a challenge.

Surveillance and intelligence gathering

Surveillance and intelligence gathering is critical. Plainclothes armed forces and immigration personnel blend into communities to monitor potential threats. The approach has worked but is constrained by resources.

It can also risk human rights violations, such as wrongful profiling, and is less effective against multiple targets compared to technological solutions like facial recognition or CCTV.

Read more: Funding terror: how west Africa’s deadly jihadists get the money they need to survive

Challenges and regional implications

Despite its successes, Ghana’s counter-terrorism framework faces challenges that could undermine its long-term efficacy:
- logistical and financial constraints
- the influx of migrants fleeing regional violence
- a lack of harmonised security cultures within the regional body, Ecowas.
In all, Ghana’s strategies offer lessons for west Africa, where terrorism is a growing threat.

Its community engagement model could be followed in Nigeria, Burkina Faso, Mali and Niger to counter radicalisation and arms proliferation, provided it avoids religious stereotyping.

– Ghana’s security strategy has kept terror attacks at bay: what other countries can learn from its approach
– https://theconversation.com/ghanas-security-strategy-has-kept-terror-attacks-at-bay-what-other-countries-can-learn-from-its-approach-260333

MIL OSI Africa –
July 23, 2025
MIL-OSI Analysis: I research rip currents where ‘Cosby Show’ star Malcolm-Jamal Warner drowned. Here’s why they’re so deadly

Source: The Conversation – Canada – By Chris Houser, Professor in Department of Earth and Environmental Science, and Dean of Science, University of Waterloo

Malcolm-Jamal Warner, the actor who played Theo Huxtable on The Cosby Show, has drowned on Costa Rica’s Caribbean coast.

It is reported that he was swimming at Playa Cocles in Limon province when a current pulled him offshore. This is a beach popular among surfers and one that’s known to have large waves and strong currents.

It’s also a beach that I have taken students to in order to study the formation of rip currents and to better understand what beach users know about the hazard.

What exactly are rip currents?

Rip currents — commonly referred to as rips or colloquially as rip tides — are found on ocean beaches and some large lakes around the world.

Read more:
The Great Lakes are powerful. Learning about ‘rip currents’ can help prevent drowning

The rips at Playa Cocles and along a large part of the Costa Rican Caribbean coast are known as channel or bathymetric rips that form as the nearshore sand bar moves toward the land through the summer. The water thrown towards the land by the breaking waves returns offshore as a concentrated and fast flowing current at gaps in the nearshore sand bar.

During storm conditions, we have measured the rip currents at Playa Cocles at over two metres per second. These rips are known to increase rapidly (or pulse) in strength due to changes in wave breaking, leading to unsuspecting swimmers being taken far offshore and exiting beyond the zone of breaking waves.

Rip current at Playa Cocles showing change in size and strength with surfers for scale. (Chris Houser)

While it can be difficult to spot a rip from shore, they can be identified by an area of relatively calm water between breaking waves, a patch of darker water or the offshore flow of water, sediment and debris.

Caught in a rip current

A person caught in a rip is transported away from shore into deeper waters, but they aren’t pulled under the water. If they are a weak swimmer or try to fight the current, they may panic and fail to find a way out of the rip and back to shore. Survivor stories highlight panic, anxiety, distress and fear, a tendency to fight the current and an inability to make a decision on how to escape the rip.

While it is possible to “break the grip of the rip” by swimming parallel to the beach or toward breaking waves at an angle to the beach, there is no single escape strategy due to the unique rip circulation pattern.

It’s possible to escape a rip by flipping onto your back, floating to keep your head above the water and following the current until you’re returned to the shore by the current or able to swim safely toward the shore. If you are taken beyond where the waves break, or you’re unable to swim back to shore, continue to float and signal for help.

Rip currents account for more than 50 deaths a year in Costa Rica; approximately 19 drownings a year involve foreign tourists from the United States, Nicaragua, Canada and Germany. While most drownings in the country occur on Pacific coast beaches that are a short distance to the city of San José, more than five drownings occur each year along the Caribbean coast.

Playa Cocles was the site of five drownings that occurred over eight days in 2004, an event that prompted tourism-dependent business owners to establish a lifeguard station on the beach.

Costa Rican drownings

On average, each drowning in Costa Rica costs more than US$2 million (USD). This includes the direct costs of search and rescue, the costs of repatriation and the long-term economic burden of a lost life. This is in addition to the great personal loss experienced by family and friends.

A survey at Playa Cocles and other beaches in Costa Rica revealed that a majority of beach users did not observe warning signs and that many were unable to interpret the warning and did not change their behaviour.

The majority of foreign drowning victims in Costa Rica had limited knowledge of rips and were unable to avoid the times and locations that were most hazardous.

In general, visitors to a beach often use simple visual cues when deciding to take risks. Recent studies suggest that tourists think beach access points and resorts are located adjacent to safe swimming areas, particularly when visual cues such as manicured paths and promotional posters that promote swimming at those locations.

Visitors are a high-risk group for drownings. They’re generally unfamiliar with the beach and its safety measures and often have poor knowledge of beach hazards, such as rip currents and breaking waves. This lack of knowledge can be exacerbated by language barriers, an overconfidence in swimming ability and peer pressure.

Rip current and beach users at Playa Cocles. The red flag was placed by lifeguards to mark the location of the rip for beach users. (Chris Houser)

Playa Cocles is a beautiful beach, but it’s known to have dangerous rips depending on the size of the breaking waves and the position of the sand bar.

When visiting any beach — from the Caribbean to the Great Lakes — it’s important to remember that there may be rip currents and to take serious precautions.

Chris Houser receives funding from NSERC.

– ref. I research rip currents where ‘Cosby Show’ star Malcolm-Jamal Warner drowned. Here’s why they’re so deadly – https://theconversation.com/i-research-rip-currents-where-cosby-show-star-malcolm-jamal-warner-drowned-heres-why-theyre-so-deadly-261653

MIL OSI Analysis –

July 23, 2025
MIL-OSI Analysis: Ghana’s security strategy has kept terror attacks at bay: what other countries can learn from its approach
Source: The Conversation – Africa (2) – By Paa Kwesi Wolseley Prah, Postdoctoral Fellow, Dublin City University

Ghana stands out in west Africa as a nation that has not experienced terrorist attacks, even though it’s geographically close to countries that have. In Burkina Faso, Mali and Nigeria, extremist groups such as Boko Haram and Islamic State in West Africa (ISWAP) have wreaked havoc.

This resilience is not accidental. It is the result of deliberate counter-terrorism strategies employed by Ghana’s security institutions.

Ghana’s counter-terrorism framework was set out in 2020. It has four pillars: prevent, pre-empt, protect, and respond. The idea is to coordinate multiple agencies, including the Ghana Police Service, Ghana Immigration Service, Ghana Armed Forces and the National Intelligence Bureau.

These pillars guide strategies to address both immediate threats and underlying vulnerabilities. Poverty, religious radicalism and porous borders are common drivers of terrorism in west Africa.

I am an international security and global governance researcher. My co-author is a government and international studies scholar.

Four years ago we wrote a paper examining Ghana’s resilience against terrorist attacks. Our findings are still relevant given the increasing activities of terror groups in the west African region.

Read more:
West Africa terror: why attacks on military bases are rising – and four ways to respond

We wanted to identify what works as a potential model for other countries.

Using a qualitative methodology, we interviewed stakeholders — including police officers, members of the armed forces, Muslim community leaders, and immigration officials. We also analysed the national framework for preventing and countering violent extremism and terrorism.

Our findings showed that Ghana’s success is traceable to an approach that integrates community engagement with advanced border technology, inter-agency training, media collaboration and intelligence operations. And it addresses both immediate and underlying threats.

We argue that Ghana’s ability to balance prevention with security offers solutions for stability in a geopolitically volatile region.

Read more:
Ghana’s new president faces tough regional security problems: why he’s well-placed to tackle them

Community engagement

One of the standout strategies is community engagement. This serves multiple purposes, from guiding people away from extremism to gathering intelligence.

The Ghana Police Service, for instance, engages Muslim-dominated communities, known as “Zongos”, to counter radical Islamic ideologies that could be exploited by terrorist groups.

By collaborating with local religious leaders, police make communities aware of the dangers of radicalisation. They foster trust and encourage residents to report suspicious activities. This approach also works in tackling illegal arms circulation.

Ghana has an estimated 2.3 million small arms in circulation – 1.1 million of them illegally possessed. The availability of so many weapons fuels terrorist activities across west Africa.

Community based de-radicalisation aligns with global best practices. In Norway, for instance, it was used to disengage youth from extremist groups.

Technology at borders

Ghana’s border control management is another part of its counter-terrorism strategy. Ghana Immigration Service uses advanced security software and integrated systems like the “Immigration 360” system, designed to fully automate passenger processing and data management.

The system manages records of fingerprints and other data to improve reporting and intelligence sharing between Ghana Immigration and other security agencies.

The technology makes it possible to quickly identity individuals on terrorist watchlists and detects concealed goods. This helps prevent illegal cross-border movements.

There are gaps in Ghana’s defences, however. The influx of migrants fleeing extremist violence in Burkina Faso, Mali and Niger in 2024 highlights the urgency of scaling up investments in the technology.

Read more:
West Africa could soon have a jihadist state – here’s why

Training for preparedness

Ghana combats new and varying forms of terrorism by uncovering trends and training personnel to deal with them.

A notable example was the six-day joint training in 2022 involving the Ghana Immigration Service, Police Service, Customs, Economic and Organised Crime Office, and the National Intelligence Bureau.

The country also works with regional neighbours like Burkina Faso, Togo and Benin, and partners such as the United States, through initiatives like “Operation Epic Guardian”.

Media as a strategic partner

Terrorists rely on media to amplify fear and publicise their causes. Ghana’s security agencies counter this tactic by actively engaging media houses to report accurately.

The Ghana Armed Forces, for instance, works with media to debunk false reports, which can cause public panic and inadvertently aid terrorists.

The Ghana Police Service emphasises regular dialogue with media to ensure sensitive information is verified before publication, reducing the risk of tipping off suspects. However, media competition for viewers poses a challenge.

Surveillance and intelligence gathering

Surveillance and intelligence gathering is critical. Plainclothes armed forces and immigration personnel blend into communities to monitor potential threats. The approach has worked but is constrained by resources.

It can also risk human rights violations, such as wrongful profiling, and is less effective against multiple targets compared to technological solutions like facial recognition or CCTV.

Read more:
Funding terror: how west Africa’s deadly jihadists get the money they need to survive

Challenges and regional implications

Despite its successes, Ghana’s counter-terrorism framework faces challenges that could undermine its long-term efficacy:
- logistical and financial constraints
- the influx of migrants fleeing regional violence
- a lack of harmonised security cultures within the regional body, Ecowas.
In all, Ghana’s strategies offer lessons for west Africa, where terrorism is a growing threat.

Its community engagement model could be followed in Nigeria, Burkina Faso, Mali and Niger to counter radicalisation and arms proliferation, provided it avoids religious stereotyping.

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

– ref. Ghana’s security strategy has kept terror attacks at bay: what other countries can learn from its approach – https://theconversation.com/ghanas-security-strategy-has-kept-terror-attacks-at-bay-what-other-countries-can-learn-from-its-approach-260333
MIL OSI Analysis –
July 23, 2025
MIL-OSI United Kingdom: Government secures label-led measures to boost earnings for UK artists
Source: United Kingdom – Executive Government & Departments

Press release

Government secures label-led measures to boost earnings for UK artists

Major boost for UK music creators as government drives industry to produce new measures to support legacy artists, songwriters and session musicians
*Changes estimated by labels to deliver tens of millions of pounds in new investment to support musicians by 2030, rewarding artists for their work and driving growth through Plan for Change *Agreement backed by UK arms of major labels Universal Music Group, Sony Music Entertainment and Warner Music Group

UK music creators are set to benefit from a boost to their earnings thanks to the Government driving forward a new label-led agreement on streaming pay agreed today (Tuesday 22nd July).

The Creator Remuneration Working Group (CRWG), chaired by Creative Industries Minister Sir Chris Bryant, has been meeting regularly since 2024 to explore industry-led action – driving growth in the creative industries as part of the Government’s Plan for Change.

This process has delivered a set of measures designed to boost the earnings of legacy artists, songwriters and session musicians and marks a further step towards ensuring the music streaming market works for everyone, on top of existing industry programmes.

The principles include a new framework for the renegotiation of contracts by artists who signed record deals before streaming became commonplace, in addition to support for the digitisation of their back catalogues so that it can be made available online. This aims to help legacy artists to increase their streaming earnings for their existing body of work.

Support for songwriters and composers includes a commitment to the payment of per diems and expenses for recording sessions, to ensure they are not left out of pocket.

The British Phonographic Industry (BPI) and Musicians’ Union also agreed to an uplift in session musician fees of up to 40% for pop sessions and 15% for classical to ensure they are more fairly paid for their work.

The agreed principles have been adopted by the BPI and Association of Independent Music (AIM) and recommended to their UK members. The UK divisions of Universal Music Group, Sony Music Entertainment and Warner Music Group, the world’s three largest labels, have also committed to delivering them.

Culture Secretary Lisa Nandy said:

Streaming has totally revolutionised how audiences discover and enjoy music, and how artists connect with their fans across the globe.

But we have heard loud and clear from creators that more needs to be done to ensure they are fairly compensated when their work is used on streaming platforms.

That is why I am delighted that the industry has agreed these new measures, which will go a long way to making sure our talented artists and creators are properly rewarded for their hard work, while driving growth through our Plan for Change.

Creative Industries Minister Sir Chris Bryant said:

Everyone loves music and it’s about time we really valued the people who create it. Millions of us use music streaming platforms who provide a fantastic service to their customers, connecting users with a wealth of music from around the world.

But many musicians and songwriters are really struggling and artists simply don’t think they receive their fair share of the profit generated by their work on these platforms. These new measures, which apply specifically in the UK, are an important step in ensuring creators are fairly paid for their work.

I would like to thank the sector for coming together to drive this positive progress, which will benefit the music industry as a whole.

Roberto Neri, CEO of Ivors Academy, said:

We welcome and wish to thank Minister Bryant for the introduction of per diems for songwriters and his support in securing this agreement. There is no music industry without songwriters and these payments will ensure that songwriters are not out of pocket when turning up to work. We look forward to working together over the next 12 months to assess how this package benefits music makers and ensuring that all creators share in the success of streaming remuneration.

The Government will support industry to deliver these measures in full, in order to improve conditions for UK music makers. The impact of the measures will be monitored and reviewed in a year’s time, working closely with members of the group to understand the extent to which they are improving creator earnings as intended.

The Government will then assess the need for further intervention, to ensure this package delivers on its objective to bring about real change for creators.

Labels estimate these changes will deliver tens of millions of pounds in new investment to support creators by 2030, which will help drive growth in the creative industries as part of the Government’s Plan for Change.

The Government has also committed to continuing to look at the issue of streaming pay for session musicians and has convened a meeting in September with key organisations from the music industry to take this forward.

Further quotes

The Council Of Music Makers said:

We greatly appreciate the efforts of the Government in seeking to improve the streaming economy for music-makers. Minister Chris Bryant has dedicated a great deal of time and resources trying to agree creator-friendly terms with the BPI and major labels, in an attempt to address unfair remuneration. Over the next year, we will work in good faith to support music-makers to test these initiatives and whether they can deliver meaningful change.

We will work closely with the Government during the one year monitoring of these measures. In 2021 Parliament’s Culture, Media & Sport Select Committee raised several fundamental issues regarding the streaming business model, calling for ‘a complete reset’. The Council Of Music Makers remains committed to achieving this objective and reaching a fairer settlement for all music-makers and we will now collectively pursue additional legislative measures to achieve positive change for those that create the work our industry is built on.

Sophie Jones, Chief Strategy Officer at the BPI, said:

After five years of detailed scrutiny and analysis, we are pleased to put in place these creator remuneration principles for UK labels in response to specific concerns identified in the UK’s streaming debate. Many more artists are succeeding in the era of streaming than before – and we are confident that these targeted measures will lead to positive and sustainable outcomes and support for legacy artists, songwriters and session musicians, ensuring that our members’ significant ongoing investment into the development of British talent and the growth of our world leading UK music industry will be to the benefit of all. This has been a collaborative process and we are grateful to our members and fellow trade organisations for their expertise and to Minister Chris Bryant and the DCMS officials for their stewardship of this process.

Baron Brennan of Canton, former Chair of the DCMS Select Committee which launched the inquiry into the Economics of Music Streaming, said:

Protecting the dignity of British songwriters by putting money in their pockets for writing sessions is a real first, and greater transparency over artist renegotiation is most welcome. I commend Minister Bryant for all his efforts. Further progress is needed on streaming but I’m encouraged by the Minister’s commitment to pursue progress through further talks this autumn on session musician income from streaming.

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Published 22 July 2025
MIL OSI United Kingdom –
July 23, 2025
MIL-OSI USA: IAM Union: Stop the Privatization of the Tennessee Valley Authority (TVA)
Source: US GOIAM Union

The IAM Union is calling on all members, allies, and community supporters to mobilize now and push back against renewed efforts to privatize the Tennessee Valley Authority (TVA)—a public institution that for more than a century has provided reliable, affordable energy to millions and supported thousands of good union jobs for decades.

This is no hypothetical threat. Citing sources, The Atlantic is reporting that some members of the Trump administration are advancing an agenda to sell off the TVA to the highest bidder. The TVA board – now with only three members instead of its usual nine – has been told by the Trump administration to fire its CEO or risk being replaced.

So far, the board has declined to do so, noting it had no cause and that the TVA has followed the Trump administration’s instructions of “unleashing American energy and achieving American energy dominance.”

Privatizing TVA would:
1. Destroy good-paying IAM union jobs and harm working families
2. Increase electricity rates for communities across the region
3. Eliminate oversight and public accountability
4. Open the door to more attacks on other public utilities nationwide
“Privatizing TVA would be a disaster for our members and for working people across the South,” said IAM Union Southern Territory General Vice President Craig Martin. “It’s a direct attack on union jobs, on affordable power, and on the idea that public resources should serve the public—not billion-dollar corporations. We will not sit back while they try to sell out our future.”

“TVA was built by working people, for working people,” said IAM Union International President Brian Bryant. “The IAM is ready to fight tooth and nail to make sure it stays that way.”

HERE’S WHAT YOU CAN DO:

Send an email message to your Senators and Representative, telling them to protect TVA and union jobs.

Call your Senators and Representative at 202-224-3121: Tell them to oppose any attempt to privatize TVA or weaken public oversight.

The IAM has stood strong for working people for generations—and we’re not backing down now. Help us protect what’s ours. Help us protect the future.

The post IAM Union: Stop the Privatization of the Tennessee Valley Authority (TVA) appeared first on IAM Union.

MIL OSI USA News –
July 23, 2025
MIL-OSI: Onfolio Holdings’ AI Marketing Subsidiary Showcases “How to 10X Your Traffic from ChatGPT” Exploring Generative Engine Optimization

Source: GlobeNewswire (MIL-OSI)

WILMINGTON, Del., July 22, 2025 (GLOBE NEWSWIRE) — Onfolio Holdings Inc. (NASDAQ: ONFO, ONFOW) (OTC: ONFOP) (“Onfolio” or the “Company”) announces that its wholly owned subsidiary, Pace Generative LLC, recently partnered with ThriveCart to deliver a live webinar on the emerging field of Generative Engine Optimization (GEO).

ThriveCart, a leading online checkout and sales platform trusted by thousands of entrepreneurs and businesses, invited Pace Generative to educate its user base through a free webinar titled “How to 10X Your Traffic from ChatGPT.” The session was led by Onfolio’s CEO Dom Wells and drew strong interest, attracting close to 200 live attendees, underscoring the growing demand for GEO insights and solutions.

Pace Generative is rapidly establishing itself as a thought leader and innovator in the AI visibility space, helping brands capitalize on exposure through platforms like ChatGPT and Google’s AI Overviews.

A full replay of the webinar is available for free on ThriveCart’s YouTube channel at: https://www.youtube.com/watch?v=PQDWAGTXC9E

About Pace Generative LLC

Pace Generative helps brands increase their visibility and traffic from AI answer engines, such as Google AI overviews, ChatGPT, Perplexity, and Grok. By using traditional content marketing, SEO, and PR techniques, along with new proprietary methods, the Pace team helps optimize businesses for generative engine optimization (GEO). For more information, visit www.pacegenerative.com.

About ThriveCart

ThriveCart is the leading sales platform for digital course creators, coaches, entrepreneurs, and online businesses looking to boost revenue, drive conversions, and scale audiences. ThriveCart powers 60,000 businesses that have generated over $6 billion in lifetime sales. For more information, visit www.thrivecart.com.

About Onfolio Holdings Inc.

Onfolio acquires, operates, and scales a diversified portfolio of digital companies. The Company focuses on businesses with strong cash flows, long-term growth potential, and experienced leadership—or those that can be effectively managed by Onfolio’s in-house team. By targeting under-optimized businesses with untapped potential, Onfolio adds value through operational expertise, strategic guidance, and advanced technologies. For more information, visit www.onfolio.com.

Safe Harbor Statement

The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words “may,” “will,” “should,” “plans,” “explores,” “expects,” “anticipates,” “continues,” “estimates,” “projects,” “intends,” and similar expressions. Examples of forward-looking statements include, among others, statements we make regarding expected operating results, such as revenue growth and earnings, and strategy for growth and financial results. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing new customer offerings, changes in customer order patterns, changes in customer offering mix, continued success in technological advances and delivering technological innovations, delays due to issues with outsourced service providers, those events and factors described by us in Item 1.A “Risk Factors” in our most recent Form 10-K and Form 10-Q and other risks to which our Company is subject, and various other factors beyond the Company’s control. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

Company Contact:
Investor Communications
Onfolio Holdings Inc.
Investors@Onfolio.com

The MIL Network –

July 23, 2025
MIL-OSI United Kingdom: Summertime fun is child’s play with Breeze In The Park

Source: City of Leeds

Organised by Leeds City Council, the roadshow-style programme will see a total of 26 low-cost play days taking place in local communities over the next month.

Each event will be held in a different park or green space and will feature interactive activities such as arts, crafts, sports and games together with Breeze’s much-loved giant inflatables.

The programme gets under way tomorrow (Wednesday, July 23) at Belle Isle’s Coopers Field and will finish at Wortley Recreation Ground on August 21.

In between times, events will take place in Armley, Beeston, Bramhope, Bramley, Burmantofts, Cross Gates, Drighlington, East Ardsley, East End Park, Farsley, Garforth, Harehills, Horsforth, Kirkstall, Middleton, Morley, Otley, Potternewton, Pudsey, Rothwell, Seacroft, Tinshill, Woodhouse and Yeadon.

The visits to Armley, Beeston, Bramhope, Cross Gates, East Ardsley, East End Park, Harehills, Kirkstall, Middleton, Morley, Potternewton and Wortley will include quieter and more relaxed sessions for those with additional needs. Extra staff will be on hand to offer assistance at these sessions, with queuing kept to a minimum and designated parking provided where possible.

A summertime staple in local parks since 2004, Breeze-themed events have become renowned over the years for their focus on fun, inclusivity and value for money.

The wider city’s commitment to those same principles means there are no shortage of other free, low-cost or pay-as-you-can entertainment options for children and young people in Leeds during the school holidays.

And to help families plan their to-do lists, the council’s Child Friendly Leeds team has now produced – with support from partners and stakeholders – a handy guide giving full details of what’s on and when.

The guide covers everything from magic shows at Leeds City Museum and workshops at Leeds Discovery Centre to film screenings at Hyde Park Picture House and children’s activities at Leeds Kirkgate Market – as well, of course, as Breeze In The Park.

Also featured is Wonderland Awaits, an immersive city centre trail of Lewis Carroll-themed installations that runs from July 26 to August 31 and will take in landmark locations such as the Corn Exchange, the Royal Armouries and the Victoria Quarter.

The release of the guide aligns with one of the key goals of the Child Friendly Leeds ’12 Wishes’ action plan, which was developed using views gathered from 80,000 children and young people.

Wish number seven of the 12 wishes in the plan is focused on the need to ensure that information about events, activities, groups, cultural experiences and days out is communicated and promoted as effectively as possible.

Councillor Salma Arif, Leeds City Council’s executive member for adult social care, active lifestyles and culture, said:

“Breeze In The Park is a much-loved part of summer for children and young people across the city and I’m sure they, like me, will be delighted that it’s back once again.

“By making the events low-cost, taking them out into so many different communities and running sessions for those with additional needs, we aim to ensure they are as accessible and inclusive as possible.

“My thanks go to all the organising team for their hard work in making Breeze In The Park a success year in, year out.”

Councillor Helen Hayden, Leeds City Council’s executive member for children and families, said:

“Our summer events guide is an excellent illustration of how Child Friendly Leeds is endeavouring to make this the best city in the country to grow up in.

“The range of activities detailed in the guide is truly impressive and it’s our hope that it contains something for everyone.

“This has been a really positive and collaborative project, with the support the Child Friendly Leeds team has received from partners and stakeholders being great to see.”

All of the Breeze In The Park events will have one main session, running from midday to 4pm.

Additional needs sessions will run from 11am to midday, with those attending them being welcome to stay on for the afternoon activities at no extra charge.

Tickets for all sessions cost £1 each and must be bought in advance. Purchases can be made here or, for additional needs sessions, here. A full list of event dates and locations can be found on the same web pages.

Breeze In The Park is funded with the generous support of the council’s network of local community committees.

Breeze Pass holders get fast-track access to some of the most popular inflatable attractions. Please note, pass holders must still purchase tickets in advance.

ENDS

MIL OSI United Kingdom –

July 23, 2025
MIL-OSI: Thomas Financial Group Secures $19.975 Million USDA Loan for Major Mendocino Hotel Restoration
Source: GlobeNewswire (MIL-OSI)

ATLANTA, July 22, 2025 (GLOBE NEWSWIRE) — Thomas Financial Group, a wholly owned subsidiary of Community Bankshares Inc., is proud to announce the successful closing of a $19.975 million USDA Business & Industry (B&I) loan for the refinance and full renovation of two historic hospitality assets in downtown Mendocino: The Mendocino Hotel & Garden Suites and Hill House Inn.

This milestone project, originated and underwritten by Thomas Financial Group, was financed through the USDA’s B&I program. The project will preserve and revitalize all guest rooms across the two properties, relaunch a centerpiece food and beverage destination, reactivate the largest indoor event space on California’s North Coast, and create over 50 new high-paying jobs, tripling the current staff and restoring these historic landmarks to full operation.

Once thriving anchors of the Mendocino community, both the Mendocino Hotel & Garden Suites and Hill House Inn had fallen into disrepair. With this USDA loan, the new owners, Castle Peak Holdings, will launch a comprehensive restoration that enhances the guest experience while preserving the charm and history that define this iconic coastal village.

The planned improvements include:
- Expansive renovations across both properties.
- Restoration of a three-meal restaurant and historic lobby bar at Mendocino Hotel.
- Reopening of North Coast’s largest indoor wedding venue.
- Upgrades to room layouts, ADA compliance, and coastal-facing suites.
- Activation of public gathering spaces for locals and tourists alike.
The Mendocino Hotel & Garden Suites, the only full-service hotel in the downtown district, will be a dynamic center of gravity for the North Coast on Mendocino’s historic Main Street, while Hill House Inn – famed as the setting for the drama TV series “Murder She Wrote” – will be restored as a hilltop retreat featuring the largest and most flexible meeting and event spaces on the North Coast, with ocean views and walking access to downtown Mendocino. Both properties will feature authentic local design elements and highlight regional artisans and makers through curated programming.

“This is what rural revitalization looks like,” said Zach Chandler, SVP, Government Guaranteed Lending for Thomas Financial Group. “We delivered a complex, long-term loan structure to support two of Northern California’s most irreplaceable hospitality assets, and did it with the stability of USDA financing.”

With an 80% USDA guarantee, a 30-year term, and no balloon payments, the loan provides unmatched peace of mind for the borrower, particularly in a volatile rate environment.

Situated in a town with a regulatory moratorium on new hotel development, these properties represent a significant portion of Mendocino’s total hotel room inventory. With over 2 million annual visitors and no new supply on the horizon, the business case for reinvesting in these assets is as compelling as the historic preservation effort itself.

“This project is about more than restoring two historic hotels,” said David Better, Partner at Castle Peak Holdings. “It’s about breathing life back into community gems, reactivating jobs, and celebrating the unique cultural legacy and spirit of Mendocino. These hotels are deeply woven into the historic fabric of what makes Mendocino special. Everyone in the area has a story about these hotels; whether they worked there as a kid, had their high school prom there, or shared a memorable meal there with family and friends. We look forward to delivering a successful project and creating the next generation of memories, for locals and guests alike. The USDA loan gave us the ability to do that in a thoughtful, sustainable way—and the team at Thomas Financial made the process seamless from start to finish.”

This project is part of a growing trend where USDA financing is used to support economic development in iconic rural destinations, and Thomas Financial Group is leading the charge.

“We’re not just closing loans—we’re reactivating communities,” added Chandler. “If you have a hospitality, manufacturing, or rural development project in the pipeline, we can help you close faster, structure smarter, and build for the long term.”

If you’re looking to fund a rural acquisition, repositioning, or expansion project and need a lender who can bridge the gap and deliver USDA takeout, contact Thomas Financial Group today.

About Thomas Financial Group

Thomas Financial Group, a wholly owned subsidiary of Community Bankshares Inc., is a nationally recognized leader in USDA and SBA lending. In partnership with Phoenix Lender Services and Community Bank & Trust, TFG specializes in complex capital solutions that support rural economic development, small business growth, and infrastructure expansion.

About Community Bankshares Inc.

Community Bankshares Inc. is a privately held financial holding company headquartered in LaGrange, Georgia, with subsidiaries including Community Bank & Trust, Thomas Financial Group, and Phoenix Lender Services. Through its network of specialized financial institutions, Community Bankshares Inc. delivers innovative, relationship-driven banking and lending services across the United States, with a strong emphasis on rural development and community reinvestment.

Media Contact
Abigail Davison
Uproar by Moburst for Community Bankshares, Inc.
abigail.davison@moburst.com

The MIL Network –
July 23, 2025
MIL-OSI: Snail, Inc. Advances Stablecoin Initiative by Establishing a New Wholly Owned Subsidiary, Snail Coins LLC

Source: GlobeNewswire (MIL-OSI)

CULVER CITY, Calif., July 22, 2025 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, today provided an update on its recently announced stablecoin initiative, establishing Snail Coins LLC, a wholly owned subsidiary of the Company, to serve as the dedicated entity responsible for the issuance, management, and operations of its proprietary USD-backed stablecoin project and other broader digital asset management initiatives.

This move marks a milestone in the Company’s broader stablecoin initiative and broader digital asset management strategy, underscoring the Company’s plans to build a secure, scalable, and transparent digital asset ecosystem.

The stablecoin project is aimed at delivering a secure, regulated, and scalable solution that addresses current market gaps in digital payments and on-chain financial infrastructure. The recent signing of the GENIUS (Guiding and Establishing National Innovation for U.S. Stablecoins) Act into law — which establishes a federal regulatory framework for USD-backed stablecoins — creates a more uniform regulatory structure for stablecoin and has added momentum to the Company’s exploration of a proprietary stablecoin initiative. The Company believes this new regulatory development will enhance market trust, attract institutional interest, and accelerate the broader adoption of compliant digital financial solutions.

“With the GENIUS Act signed into law, we believe the regulatory landscape is beginning to align with the pace of innovation in digital finance,” said Snail, Inc. co-CEO Hai Shi. “The timing of this development couldn’t be more aligned with our own efforts, as we now establish a dedicated subsidiary for our stablecoin and our broader digital asset management initiatives. We view the formation of Snail Coins LLC as more than a corporate structuring move – it’s the beginning of a strategic commitment to the integrity, success, and vision of the project.”

About Snail, Inc.
Snail, Inc. (Nasdaq: SNAL) is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs, and mobile devices. For more information, please visit: https://snail.com/.

Forward-Looking Statements
This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “may,” “predict,” “continue,” “estimate” and “potential,” or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and in our public filings with the SEC and include, but are not limited to, statements regarding (i) the evaluation and feasibility for introduction of Snail’s own proprietary stablecoin and any future implementation, which will depend on multiple factors, including regulatory considerations, technical readiness, risk assessments and strategic alignment with Snail’s core business, and (ii) Snail’s belief that the GENIUS Act will enhance market trust, attract institutional interest, and accelerate the broader adoption of compliant digital financial solutions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed by the Company with the SEC on March 26, 2025 and other documents filed by the Company from time to time with the SEC, including the Company’s Forms 10-Q filed with the SEC. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

Disclaimer:
This press release does not constitute an offer, sale or solicitation of an offer to buy any digital asset or security. The Company has not committed to a specific launch timeline or use case deployment. Any future implementation will depend on multiple factors, including regulatory considerations, technical readiness, risk assessments and strategic alignment with Snail’s core business. Snail may determine at any time to abandon its current intent to explore the issuance of a proprietary US dollar-backed stablecoin.

Investor Contact:
John Yi and Steven Shinmachi
Gateway Group, Inc.
949-574-3860
SNAL@gateway-grp.com

The MIL Network –

July 23, 2025
MIL-OSI: JMU experts offer back-to-school insights on AI, student wellness, and more
Source: GlobeNewswire (MIL-OSI)

HARRISONBURG, Va., July 22, 2025 (GLOBE NEWSWIRE) — As AI becomes increasingly embedded in college life, James Madison University is equipping students and faculty with the tools to think critically about its use. Professor Philip Frana, a leading voice on the ethical and educational implications of AI, urges the campus community to go beyond simply using AI — and start questioning it.

Topics Frana is available to discuss include:
- – Conformity risks: How AI-generated content may push students toward generic, conformist and even mediocre expression.
- – The value of originality: How tools that reduce originality or ingenuity have no place in higher education. “AI can aid brainstorming,” he said, “but it can’t replace an authentic student question or genuine personal insight.”
- – The design of dependency: How AI interfaces, like social media, are designed to be habit-forming, encouraging overreliance on automation.
- – The role of higher education: How universities must guide educators to use AI responsibly in the service of society and empower them to contribute directly to AI innovation on campus.
- – The future of education: How AI will increase the need for a university education that encourages critical thinking and fosters ethical reasoning.
In addition to Frana, the following experts are available to discuss students’ health and wellness, learning routines, budgeting and dating habits:

John Almarode, a professor in the College of Education, researches transitions, recalibrating routines and enhancing learner readiness.

Jeremy Akers, a professor in the College of Health and Behavioral Studies, researches nutrition, exercise and weight management.

Trent Hargens, a professor in the College of Health and Behavioral Studies, researches the physiological links between sleep quality, physical activity and sedentary behavior.

Ron Rubin, a lecturer in the College of Business, helps students understand the importance of personal financing, identifying basic budgeting strategies, how to build creditworthiness and saving for retirement.

Dayna Henry, a professor in the College of Health and Behavioral Studies, studies sexuality education and can discuss sexual assault prevention and sexual and relationship health.

Jennie Rosier, a professor in the College of Arts and Letters, researches romantic and parent-child relationships and has done several interviews recently on Gen Z dating habits.

To arrange an interview with these experts, please contact Chad Saylor at saylorcx@jmu.edu or Eric Gorton at gortonej@jmu.edu

The MIL Network –
July 23, 2025

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