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Category: Europe

  • MIL-OSI: Beam Global Announces First Quarter 2025 Operating Results

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, May 15, 2025 (GLOBE NEWSWIRE) — Beam Global, (Nasdaq: BEEM), (the “Company”), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, today announced its first quarter results for the period ended March 31, 2025.

    Q1 2025 Financial Highlights

    • Revenue CAGR 60% for trailing 60 months
    • Commercial Revenues increased 41% over Q1 2024
    • Positive GAAP Gross Margin 8%
    • Adjusted non-GAAP Gross Margin, net of non-cash costs 21%
    • Net cash used in Operations for Q1 2025 $1.8 million vs. Q1 2024 $3.0 million
    • Backlog of $6.3 million
    • Debt free and $100 million line of credit available and unused

    Q1 2025 and Recent Operational Highlights

    • In Q1 2025 we shipped EV ARC™ units, ARC Mobility™ trailers, energy storage systems (ESS), lighting poles and smart city infrastructure solutions to locations across California, Arizona, Colorado, Florida, Michigan, Oregon, and internationally to Croatia, Serbia, Spain and Romania
    • Achieved CE (Conformité Européenne) certification on EV ARC™
    • Granted U.S. Patent for High-Volume Battery Assembly and Safety Technology
    • Expanded our European sales network with three new distribution partners
      • Seltis Glass Design S.R.L. for the Romanian market
      • Evrosimovski Consulting Ltd. for the North Macedonian market
      • BBA International for the Albanian market
    • Entered Middle Eastern market through partnership with Solvana
    • Launched BeamPatrol™ partnership with Zero Motorcycles with two BeamPatrol™ units at MotoGP in Austin to charge electric motorcycle demonstrations
    • Expanded into Romania with First EV ARC™ Sales through our Romanian reselling agent, Seltis Glass Design SRL
    • Won the Award for Innovation in Sustainable Infrastructure at the 2025 Congress of Mayors and Local Administration of Romania
    • Won the 2024 Award for Business Success by Serbian Chamber of Commerce

    “Though we are navigating through a series of uncertainties in the U.S. market, our other expansion efforts lead us to believe that we have the pieces in place to return to growth in this and future quarters,” said Desmond Wheatley, CEO of Beam Global. “Sales of our flagship product EV ARC™ increased in the first quarter. Our battery business is doing some of the most interesting and promising work it has ever done. Our international expansion strategy is gaining momentum and bearing fruit. We have sufficient cash and working capital to continue to operate the business into the future. We have no debt and no going concern. We’re generating gross profits which, net of non-cash items, are still north of 20%. We have proposals out and items in our pipeline, which would simply not have been possible this time last year before we introduced our fantastic new product lineup and expanded beyond the US market. Losing the immediate benefits of U.S. federal government sales has been tough on us, but we are managing through that and have created a foundation for growth which is resistant to those sorts of upheavals, and which I believe, will create opportunities for growth which far out strip anything that we’ve ever done before.”

    Revenues
    For the first quarter of 2025, Beam Global’s revenues were $6.3 million. The Company has a Revenue CAGR of 60% for the trailing 60 months, as of the three months ending March 31, 2025. Revenues were diverse across commercial entities and state and local governments with a significant rebalancing towards enterprise customers. For the first quarter of 2025, 53% of revenues were derived from commercial customers compared to 16% in the same period in 2024. International customers comprised 25% of all revenue as of March 31, 2025 compared to 11% for the three months ended March 31, 2024. We believe that the decrease in revenue is mainly a result of uncertainty in the U.S. government’s zero emission vehicle strategy related to the presidential election.

    Gross Profit

    Gross profit for the quarter ended March 31, 2025, was $0.5 million, or 8% gross margin, compared to gross profit of $1.5 million, or 10% gross margin in the first quarter of the prior year. The gross profit includes a non-cash negative impact of $1.0 million for depreciation and amortization of intangible assets resulting from the AllCell acquisition. Our gross margin, net of non-cash items, was 21% for the quarter ended March 31, 2025 compared to 12% for the quarter ended March 31, 2024. Our engineering team has continued to implement design changes which have reduced the bill of materials for the EV ARCTM, improving the product margins throughout 2024 and leading into 2025. Additionally, we have continued to recognize synergies and positive gross margin contributions from our acquisitions. We expect the Company’s revenue to grow in the future and our fixed overhead absorption to continue to improve resulting in improved gross margins.

    Operating Expenses and Impairment of Goodwill

    The first quarter 2025 total operating expenses of $16.0 million included $10.8 million of goodwill impairment, for the single reporting unit, because our market capitalization no longer exceeded our net assets at March 31, 2025 due to the decrease in our stock price since December 31, 2024. Our operating expenses, net of non-cash items for the three months ended March 31, 2025 are $4.1 million compared to 2024 of $3.8 million, a variance of $0.2 million or 6%. The Company believes the goodwill impairment reported during the three months ended March 31, 2025 is not a negative indicator of historic or current operating results and not a negative indicator of future performance as the Company has taken significant steps to diversify its geographical reach and product offerings while focusing on strategic growth. The Company believes that the resulting non-cash charge has no impact on the Company’s compliance with its cash flows or available liquidity and that its acquired entities are contributing positively to its operations and growth potential.

    Net Loss

    The first quarter net loss of $15.5 million included $12.5 million of non-cash expense items such as goodwill impairment, depreciation and amortization, stock-based compensation and provisions for credit losses in 2025, compared to a net loss of $3.0 million with non-cash expenses of $1.1 million in 2024. The first quarter 2025 net loss excluding non-cash items was $2.8 million compared to $2.1 million for the same period in 2024.

    Cash

    On March 31, 2025, we had cash of $2.5 million, compared to cash of $4.6 million at December 31, 2024.

    Net cash used for operating activities was $1.8 million for the three months ended March 31, 2025 compared to $3.0 million for the same period in 2024.

    We have historically met our cash needs through a combination of debt and equity financing and more recently through increasing gross profit contributions. Our cash requirements are generally for operating activities and acquisitions.

    Non-GAAP Financial Measures

    To supplement our condensed consolidated financial statements, which are prepared in accordance with GAAP, we present Non-GAAP financial measures, in this press release. We use Non-GAAP in conjunction with GAAP measures as part of our overall assessment of our performance to evaluate the effectiveness of our business strategies and to communicate with our board of directors concerning our financial performance. We believe Non-GAAP is also helpful to investors, analysts and other interested parties because it can assist in providing a more consistent and comparable overview of our operations across our historical financial periods. Non-GAAP has limitations as an analytical tool. Therefore, you should not consider it in isolation or as a substitute for analysis of our results as reported under GAAP. Because of these limitations, you should consider Non-GAAP measurements alongside other financial performance measures, including attributable to other GAAP measures. In evaluating Non-GAAP measures you should be aware that in the future, we may incur expenses that are the same as, or similar to, some of the adjustments reflected in this press release. Our presentation of Non-GAAP should not be construed to imply that our future results will be unaffected by the types of items excluded from the calculations of Non-GAAP measures. Non-GAAP is not presented in accordance with GAAP and the use of these terms vary from others in our industry.

    Conference Call May 15, 2025 at 4:30 p.m. ET 

    Management will host a conference call on Thursday May 15, 2025 at 4:30 p.m. ET to review financial results and provide an update on corporate developments. Following management’s formal remarks, there will be a question-and-answer session.

    Participants can register for the conference through the following link: https://dpregister.com/sreg/10200046/ff2f9aecc8

    Please note that registered participants will receive their call-in number upon registration.

    Those without internet access or unable to pre-register may call in by calling:

    PARTICIPANT CALL IN (TOLL FREE): 1-844-739-3880

    PARTICIPANT INTERNATIONAL CALL IN: 1-412-317-5716

    Please ask to join the Beam Global call.

    About Beam Global
    Beam Global is a clean technology innovator which develops and manufactures sustainable infrastructure products and technologies. We operate at the nexus of clean energy and transportation with a focus on sustainable energy infrastructure, rapidly deployed and scalable EV charging solutions, safe energy storage and vital energy security. With operations in the U.S. and Europe, Beam Global develops, patents, designs, engineers and manufactures unique and advanced clean technology solutions that power transportation, provide secure sources of electricity, save time and money and protect the environment. Beam Global is headquartered in San Diego, CA with facilities in Broadview, IL and Belgrade and Kraljevo, Serbia. Beam Global is listed on Nasdaq under the symbol BEEM. For more information visit BeamForAll.com, LinkedIn, YouTube, Instagram and X (formerly Twitter).

    Forward-Looking Statements
    This Beam Global Press Release may contain forward-looking statements. All statements in this Press Release other than statements of historical facts are forward-looking statements. Forward-looking statements are generally accompanied by terms or phrases such as “estimate,” “project,” “predict,” “believe,” “expect,” “anticipate,” “target,” “plan,” “intend,” “seek,” “goal,” “will,” “should,” “may,” or other words and similar expressions that convey the uncertainty of future events or results. These statements relate to future events or future results of operations. These statements are only predictions and involve known and unknown risks, uncertainties and other factors, which may cause Beam Global’s actual results to be materially different from these forward-looking statements. Except to the extent required by law, Beam Global expressly disclaims any obligation to update any forward-looking statements.

    Investor Relations
    Luke Higgins
    +1-858-799-4583
    IR@BeamForAll.com

    Media Contact
    Andy Lovsted
    +1-858-335-8465
    Press@BeamForAll.com

     
    Beam Global
    Condensed Consolidated Balance Sheets
    (In thousands, except share and per share data)
           
      Three Months Ended
      March 31,   December 31,
      2025   2024
      (Unaudited)    
    Assets      
    Current assets      
    Cash $ 2,504   $ 4,572
    Accounts receivable, net of allowance for credit losses of $498 and $259 7,145   8,027
    Prepaid expenses and other current assets 2,150   2,243
    Inventory, net 11,845   12,284
    Total current assets 23,644   27,126
           
    Property and equipment, net 13,531   13,704
    Operating lease right of use assets 1,650   1,893
    Goodwill –   10,580
    Intangible assets, net 7,810   8,037
    Deposits 120   119
    Total assets $ 46,755   $ 61,459
           
    Liabilities and Stockholders’ Equity      
    Current liabilities      
    Accounts payable $ 8,316   $ 8,959
    Accrued expenses 2,393   2,462
    Sales tax payable 435   195
    Deferred revenue, current 1,042   847
    Note payable, current 64   63
    Contingent consideration, current 93   93
    Operating lease liabilities, current 539   696
    Total current liabilities 12,882   13,315
           
    Deferred revenue, noncurrent 857   800
    Note payable, noncurrent 182   199
    Contingent consideration, noncurrent 216   216
    Other liabilities, noncurrent 3,432   3,380
    Deferred tax liabilities, noncurrent 1,609   1,290
    Operating lease liabilities, noncurrent 905   971
    Total liabilities 20,083   20,171
           
    Commitments and contingencies (Note 10)      
           
    Stockholders’ equity      
    Preferred stock, $0.001 par value, 10,000,000 authorized, none outstanding as of March 31, 2025 and December 31, 2024. –   –
    Common stock, $0.001 par value, 350,000,000 shares authorized, 15,043,045 and 14,835,630 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively. 15   15
    Additional paid-in-capital 147,518   147,072
    Accumulated deficit (120,166)   (104,643)
    Accumulated Other Comprehensive Income (AOCI) (695)   (1,156)
           
    Total stockholders’ equity 26,672   41,288
           
    Total liabilities and stockholders’ equity $ 46,755   $ 61,459
           
    Beam Global
    Condensed Consolidated Statements of Operations and Comprehensive Loss
    (Unaudited, In thousands except per share data)
           
      Three Months Ended
      March 31,
      2025   2024
           
    Revenues $ 6,324   $ 14,561
           
    Cost of revenues 5,823   13,082
           
    Gross profit 501   1,479
           
           
    Operating expenses 5,265   4,527
           
    Impairment of goodwill 10,780   –
           
    Loss from operations (15,544)   (3,048)
           
    Other income (expense)      
    Interest income 23   71
    Other income (expense) 4   (56)
    Interest expense (6)   (4)
    Other income 21   11
           
    Loss before income tax expense (15,523)   (3,037)
           
    Net Loss $ (15,523)   $ (3,037)
           
    Net foreign currency translation benefit (expense) 461   (329)
    Total Comprehensive Loss $ (15,062)   $ (3,366)
           
    Net Loss per share – basic/diluted $ (1.04)   $ (0.21)
           
    Weighted average shares outstanding – basic/diluted 14,990   14,422
           

    The MIL Network –

  • MIL-Evening Report: Banning young people from social media sounds like a silver bullet. Global evidence suggests otherwise

    Source: The Conversation (Au and NZ) – By Jasleen Chhabra, Research Fellow, Centre for Youth Mental Health, The University of Melbourne

    Monkey Business / Shutterstock

    Around 98% of Australian 15-year-olds use social media. Platforms such as TikTok, Snapchat and Instagram are where young people connect with friends and online communities, explore and express their identities, seek information, and find support for mental health struggles.

    However, the federal government, seeking to address concerns about young people’s mental health, has committed to ban under-16s from these platforms from later this year.

    There is no doubt social media presents risks to young people. These include cyberbullying, posts related to disordered eating or self-harm, hate speech, and the basic risk of spending long hours scrolling or “doomscrolling”.

    But is banning young people really the answer? We reviewed 70 reports from experts in Australia, the United Kingdom, the United States and Canada to understand what they recommend – and found broad agreement that a ban may not address the real problems.

    Humans preventing harm

    The overall verdict is that we need a much more thoughtful response than just a ban: only a coordinated approach between governments, regulators, tech companies and young people themselves will address youth mental health and online safety.

    We should be asking what we can do to make online spaces safer for young people, not jumping straight to removing them entirely.

    Content moderation is one area in need of urgent attention. Young people regularly report being exposed to harmful and age-inappropriate content on social media, while platforms replace moderation staff with cheaper AI systems.

    Automated processes have their place, but many recommendations in our review emphasised the importance of human moderators to keep up.

    Data and endless advertising

    A second issue exists around the collection and use of user data. Tech platforms have built their business model around user engagement and ad revenue.

    To keep users scrolling (and watching ads), companies collect large amounts of user data to deliver highly personalised feeds.

    Many experts advocate against the widespread collection and use of young people’s data, particularly for delivering advertising materials that promote dieting, unregulated supplements and cosmetic procedures. Posts like these often appear in an endless stream, interspersed between non-harmful and entertaining content.

    Starting with safety

    Alongside greater regulation of advertising material, many experts emphasised the need to consider “safety by design”.

    In other words, social media should be designed from the outset to prevent harming users. It may mean the end of “addictive” features such as infinite scrolling, frequent push notifications, and auto-play videos.

    Regulators also need the tools and power to hold platforms to account.

    That includes financial penalties, more transparent reporting from big tech companies, and taking proactive steps to keep harmful material off these platforms – not just taking down content after the fact.

    Age-checking tech troubles

    Our review did find a small number of reports that recommend barring young people from social media. However, experts questioned the feasibility of age verification technology and raised privacy concerns.

    The federal government has passed the buck to social media companies for actually implementing age verification of users.

    Platforms must take “reasonable steps” to restrict access by under-16s. It is unclear what these steps will be, but the prospect of facial recognition or digital ID checks raises serious privacy concerns.

    Others argue that banning under-16s from social media will drive them to less regulated online spaces, including online forums such as the notorious 4Chan, where some pages have an explicit “no rules” policy.

    It is also important to acknowledge that many young people find important support and communities on social media. Taking away social media may present risks to mental health in these circumstances.

    Listening to young people

    An age ban sounds decisive but comes with its own set of questions.

    In the absence of social media, where do young people questioning their sexual or gender identity go to find information and support? What would a ban mean for young people who engage with news on social media?

    There is little evidence about what impact a ban will have on young people, particularly those from diverse backgrounds.

    What’s more, young people have had minimal input into the policy. They have the insight to offer practical, real-world insights into what works and what does not.

    A blanket ban does nothing to make social media platforms safer for users. It might just delay problems and expose young people to an avalanche of harm when they log on at the age of 16.

    A ban brings its own risks

    The push to ban social media for under-16s is driven by genuine concerns. But unless it is a part of a broader, more thoughtful approach to online safety, it risks doing more harm than good.

    If we want a healthier digital environment, we can’t just lock out young people and hope for the best.

    Vita Pilkington receives funding from the Melbourne Research Scholarship and the Margaret Cohan Research Scholarship, both awarded by the University of Melbourne.

    Zac Seidler has been awarded an NHMRC Investigator Grant. He is also the Global Director of Research with the Movember Institute of Men’s Health. He advises government on men’s health, masculinities, violence prevention and social media policy.

    Jasleen Chhabra 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. Banning young people from social media sounds like a silver bullet. Global evidence suggests otherwise – https://theconversation.com/banning-young-people-from-social-media-sounds-like-a-silver-bullet-global-evidence-suggests-otherwise-256587

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: A trial is testing ways to enforce Australia’s under-16s social media ban. But the tech is flawed

    Source: The Conversation (Au and NZ) – By Alexia Maddox, Senior Lecturer in Pedagogy and Education Futures, La Trobe University

    De Visu/Shutterstock

    Australia’s move to ban under-16s from social media is receiving widespread praise. Other countries, including the United Kingdom, Ireland, Singapore and Japan, are also now reportedly considering similar moves.

    The ban was legislated in November 2024 and is due to take effect in December 2025. The law says social media platforms can’t use official IDs such as passports to check Australian users’ ages, and shouldn’t track Australians. But it doesn’t specify the alternative.

    To test alternative methods, the federal government commissioned a trial of currently available technologies designed to “assure” people’s age online. Run by the Age Check Certification Scheme, a UK-based company specialising in testing and certifying identity verification systems, the trial is in its final stages. Results are expected at the end of June.

    So what are the technologies being trialled? Are they likely to work? And how might they – and the social media ban itself – alter the relationship all of us have with our dominant forms of digital communication?

    Dead ends for age verification

    Age verification confirms a person’s exact age using verified sources such as government-issued IDs. Age assurance is a broader term. It can include estimation techniques such as analysing faces or metadata to determine if users meet age requirements.

    In 2023 the federal government rejected mandating verification technologies for age-gating pornography sites. It found them “immature” with significant limitations. For example, database checks were costly and credit card verification could be easily worked around by minors.

    Nonprofit organisation Digital Rights Watch also pointed out that such systems were easily bypassed using virtual private networks – or VPNs. These are simple tools that hide a user’s location to make it seem like they are from a different country.

    Age assurance technologies bring different problems.

    For example, the latest US National Academies of Sciences report shows that facial recognition systems frequently misidentify children because their facial features are still developing.

    Improving these systems would require massive collections of children’s facial images. But international human rights law protects children’s privacy, making such data collection both legally and ethically problematic.

    Flawed testing of innovative tech?

    The age assurance technology trial currently includes 53 vendors hoping to win a contract for new innovative solutions.

    A range of technology is being trialled. It includes facial recognition offering “selfie-based age checks” and hand movement recognition technologies that claim to calculate age ranges. It also includes bespoke block chains to store sensitive data on.

    There are internal tensions about the trial’s design choices. These tensions centre on a lack of focus on ways to circumvent the technology, privacy implications, and verification of vendors’ efficacy claims.

    While testing innovation is good, the majority of companies and startups such as IDVerse, AgeCheck, and Yoti in the trial, will likely not hold clout over the major tech platforms in focus (Meta, Google and Snap).

    This divide reveals a fundamental problem: the companies building the checking tools aren’t the ones who must use them in the platforms targeted by the law. When tech giants don’t actively participate in developing solutions, they’re more likely to resist implementing them later.

    Google recently proposed storing ID documents in Google Wallet for age verification.
    nitpicker/Shutterstock

    Unresponsive tech companies

    Some major tech companies have shown little interest in engaging with the trial. For example, minutes from the trial’s March advisory board meeting reveal Apple “has been unresponsive, despite multiple outreach attempts”.

    Apple has recently outlined a tool to transmit a declared age range to developers on request. Apple suggests iOS will default the age assurance on Apple devices to under 13 for kids’ accounts. This makes it the responsibility of parents to modify age, the responsibility of developers to recognise age, and the responsibility of governments to legislate when and what to do with an assured age per market.

    Google’s recent Google Wallet proposal for age assurance also misses the mark on privacy concerns and usefulness.

    The proposal would require people over 16 to upload government-issued IDs and link them to a Google account. It would also require people trust Google not track where they go across the internet, via a privacy-preserving technology that remains a promise.

    Crucially, Meta’s social media platforms such as Facebook and Instagram also do not let you login with Google credentials. After all, they are competitors. This raises questions about the usefulness of Google’s proposal to assure age across social media platforms as part of the government’s under-16s ban.

    Meanwhile, Google is also suggesting AI chatbots should be directly targeted and available to children under 13, creating something akin to a “social network of one”, which are out of scope of the ban.

    Rather than engage with Australian age verification systems, companies such as Apple and Google are promoting their own solutions which seem to prioritise keeping or adding users to their services, or passing responsibility elsewhere.

    For the targeted platforms that enable online social interactions, delay in engagement fits a broader pattern. For example, in January 2025, Mark Zuckerberg indicated Meta would push back more aggressively against international regulations that threaten its business model.

    A shift in internet regulation

    Australia’s approach to banning under-16s from using social media marks a significant shift in internet regulation. Rather than age-gating specific content such as porn or gambling, Australia is now targeting basic communication infrastructure – which is what social media have become.

    It centres the problem on children being children, rather than on social media business models.

    The result is limiting childrens’ digital rights with experimental technologies while doing little to address the source of perceived harm for all of us. It prioritises protection without considering children’s rights to access information and express themselves. This risks leaving the most vulnerable children being cut off from digital spaces essential to their success.

    Australia’s approach puts paternal politics ahead of technical and social reality. As we get closer to the ban taking effect, we’ll see how this approach to regulate social communication platforms offers young people respite from the platforms their parents fear – yet continue to use everyday for their own basic communication needs.

    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. A trial is testing ways to enforce Australia’s under-16s social media ban. But the tech is flawed – https://theconversation.com/a-trial-is-testing-ways-to-enforce-australias-under-16s-social-media-ban-but-the-tech-is-flawed-256332

    MIL OSI Analysis – EveningReport.nz –

  • MIL-OSI USA: Rep. Bera Leads Bipartisan, Bicameral Legislation to Establish Permanent U.S. Ambassador-at-Large for Arctic Affairs

    Source: United States House of Representatives – Representative Ami Bera (D-CA)

    U.S. Representative Ami Bera, M.D. (D-CA-06), a senior member of the House Foreign Affairs Committee, introduced bipartisan legislation to establish a permanent Ambassador-at-Large for Arctic Affairs within the U.S. Department of State. 

    Following its initial creation by the State Department in 2022, this bill would formally codify the position of U.S. Ambassador-at-Large for Arctic Affairs to ensure the role becomes a permanent fixture of U.S. foreign policy and Arctic engagement.

    Representatives Rick Larsen (D-WA-02) and Mark Amodei (R-NV-02) joined Bera in introducing the bill in the House. Companion legislation has been introduced in the Senate by Senator Lisa Murkowski (R-AK).

    “The Arctic is a critical region for U.S. national security, economic development and environmental preservation,” said Representative Bera. “From increased ship traffic to growing competition with Russia and China, the United States must ensure we have a strong, unified presence in the Arctic. This legislation will help us do just that by formally establishing a senior diplomat position charged with leading and coordinating America’s Arctic strategy.”

    Reporting directly to the Secretary of State, the Ambassador-at-Large would coordinate efforts across federal agencies and international partners to advance U.S. security and scientific interests, strengthen Arctic cooperation, promote sustainable development, protect the environment and empower Indigenous Arctic communities.

    “As a member of the House Foreign Affairs Committee, I’ve seen firsthand how Arctic issues—from melting ice caps to rising geopolitical tensions—impact both U.S. national security and global stability,” Bera added. “This Ambassador will ensure the United States leads with our values, partners with our allies and protects one of the most strategically significant regions of the world.”

    “Establishing a permanent ambassador-level position is an important step to coordinate U.S. interests in the Arctic,” said Rep. Larsen. “The position also demonstrates Congress’ bipartisan commitment to international cooperation with regional partners on Arctic policy.”

    “A strong U.S. presence in the Arctic is essential to securing our geopolitical interests and countering adversarial influence,” said Rep. Mark Amodei. “As the region presents growing strategic opportunities in security, science, and development, U.S. representation ensures we remain a leading voice in shaping its future and advancing shared values with our allies.”

    You can read the full legislation here.

    MIL OSI USA News –

  • MIL-OSI USA: King: “Siloing Innovation” Harms American Security, Entrepreneurialism

    US Senate News:

    Source: United States Senator for Maine Angus King
    WASHINGTON, D.C. — U.S. Senator Angus King (I-ME), in a hearing of the Senate Armed Services Committee (SASC), spoke with Dr. William Greenwalt, the former Deputy Under Secretary of Defense for Industrial Policy, on the wide-ranging benefits of the United States’ collaboration with allies to bolster American defense modernization. During the exchange, Senator King noted that by retreating from our European, Japanese and Australian allies, we are “squandering that asset and siloing innovation.” Dr. Greenwalt agreed with Senator King, saying that cooperation with our allies is critical to the future of innovation and shared national security.
    “Dr. Greenwalt, I was struck by what you said in your opening statement. One of our asymmetric or I think our principal asymmetric advantage in terms of national security is our allies, and yet we put them through this long, arduous process. And there should be, I think you suggested a, I don’t know whether you call it an exemption or a bobtail process or something, so that we’re not, so that we can have greater cooperation with our allies. Is that? Is that a fair interpretation of what you said,” questioned Senator King.
    “Yes, I won’t even call it an easy pass lane,” said Dr. Greenwalt.
    “Well, I think that’s and the other piece of this, and as I travel and meet with security people in other countries, we’re missing an innovation multiplier by not working with our allies. Countries like Japan and Australia, Europe, Germany, UK, all have brilliant scientists who are working on a lot of innovative areas. And instead of having innovation be siloed by country, it’s always occurred to me that it would be much more, as I say, a multiplier, if we could work more closely and have better cooperation with the countries that are aligned with us? Is that a fair observation,” asked Senator King.
    “I think that’s a fair observation. We’re a country of 340 million, our allies together, the EU, NATO, Japan, Korea, kick us up over to over a trillion. We were close to the Chinese population,” responded Dr. Greenwalt.
    “And we’re squandering that asset by siloing innovation,” replied Senator King.
    “The number of scientists, engineers working together would be critical in the future, and unfortunately, right now, we’re all stove pipe working on these things separately,” said Dr. Greenwalt.
    “Well, I do want to, I have a visual aid in terms of the process. I’m not going to burden the committee, Mr. Chairman, by submitting it for the record, but this is the foreign military sales manual, 642 pages. I mean this to me this summarizes, in many ways, the problem of the of the process itself, which has impeded our ability to work with, again, with our allies,” finished Senator King.
    A member of the Senate Armed Services Committee (SASC) and the Senate Select Committee on Intelligence (SSCI), Senator King is recognized as an authoritative voice on national security and foreign policy issues who has also been named a “fiscal hero” by government watchdogs for responsible spending. Last year, Senator King urged the DoD to take advantage of private sector technologies or risk losing access to innovative defense technologies. In previous SASC hearings, he has encouraged the DoD to adopt smart spending practices when it comes to developing defense technologies, and has emphasized that “new technologies win wars.”

    MIL OSI USA News –

  • MIL-OSI USA: Thirty Gang Members and Associates Indicted on Racketeering, Murder, Drug Trafficking, Fraud, and Firearm Charges

    Source: US Justice – Antitrust Division

    Headline: Thirty Gang Members and Associates Indicted on Racketeering, Murder, Drug Trafficking, Fraud, and Firearm Charges

    An eight-count indictment was unsealed in the Southern District of Georgia charging 30 defendants – all alleged Sex Money Murder (SMM) gang members and associates – with crimes including racketeering (RICO) conspiracy, murder in aid of racketeering, conspiracy to commit murder in aid of racketeering, conspiracy to commit wire fraud, and related firearm and drug trafficking crimes.

    MIL OSI USA News –

  • MIL-OSI: CORRECTING AND REPLACING – Katapult Delivers 15.4% Gross Originations and 10.6% Revenue Growth in the First Quarter, Above Outlook

    Source: GlobeNewswire (MIL-OSI)

    Expects Growth to Accelerate In Second Quarter
    Reiterates 2025 Guidance

    PLANO, Texas, May 15, 2025 (GLOBE NEWSWIRE) — In the press release issued by Katapult Holdings, Inc. on May 15, 2025, in the gross originations by quarter table, Q4 in FY 2024 should be $75.2 million instead of $64.2 million.

    The updated release reads:

    Katapult Holdings, Inc. (“Katapult” or the “Company”) (NASDAQ: KPLT), an e-commerce-focused financial technology company, today reported its financial results for the first quarter ended March 31, 2025.

    “2025 is off to a strong start and we are well positioned to achieve our full year targets,” said Orlando Zayas, CEO of Katapult. “We achieved double-digit gross originations and revenue growth, driven by increasing engagement with the Katapult app marketplace, including 57% growth in KPay originations. Our marketplace is thriving – from application growth to repeat purchase rates, to high Net Promoter scores and beyond, we believe we have all the hallmarks of a healthy ecosystem and we intend to lean into opportunities to accelerate our growth. We are excited about the future and as we continue to execute on our consumer and merchant initiatives, we feel confident that we can create value for all of our stakeholders.”

    Operating Progress: Recent Highlights

    • Increased activity within the Katapult app marketplace
      • ~59% of first quarter gross originations started in the Katapult app marketplace, making it the single largest customer referral source. Total app originations grew 42% year-over-year.
      • Applications grew ~59% year-over-year in the first quarter
      • Customer satisfaction remained high and Katapult had a Net Promoter Score of 66 as of March 31, 2025
      • 57.4% of gross originations for the first quarter of 2025 came from repeat customers1
    • Grew consumer engagement by adding app functionality and features and executing targeted marketing campaigns
      • KPay conversion rate increased during the first quarter leading to unique customer count growth of more than 65% year-over-year
      • KPay gross originations grew approximately 57% year-over-year in the first quarter; 35% of total gross originations were transacted using KPay
      • Launched Ashley and Bed Bath & Beyond in the Katapult app marketplace, bringing the total number of merchants in our KPay ecosystem to 35
    • Made strong progress against merchant engagement initiatives
      • Direct and waterfall gross originations, which represented 65% of total first quarter originations, grew approximately 40%, excluding the home furnishings and mattress category
      • Continued to expand our waterfall partnerships by kicking off a new partnership with Finti, a modern waterfall financing platform that connects consumers with a curated network of lenders and financing providers
      • Together with several merchant-partners, we launched targeted co-branded, co-promoted marketing campaigns that delivered year-over-year gross originations growth ranging from 7% to more than 75% depending on the campaign

    First Quarter 2025 Financial Highlights

    (All comparisons are year-over-year unless stated otherwise.)

    • Gross originations were $64.2 million, an increase of 15.4%. Excluding the home furnishings and mattress category, gross originations grew 51% year-over-year.
    • Total revenue was $71.9 million, an increase of 10.6%
    • Total operating expenses in the first quarter increased 17.3%. Our fixed cash operating expenses2, which exclude litigation settlement and other non-cash and variable expenses, increased approximately 10.8%.
    • Net loss was $5.7 million for the first quarter of 2025 compared with net loss of $0.6 million reported for the first quarter of 2024. The higher net loss was mainly due to higher cost of sales and higher operating expenses.
    • Adjusted net loss2 was $3.4 million for the first quarter of 2025 compared to adjusted net income of $1.0 million reported for the first quarter of 2024
    • Adjusted EBITDA2 was $2.2 million for the first quarter of 2025 compared to Adjusted EBITDA2 of $5.6 million in the first quarter of 2024. The year-over-year performance was impacted by higher cost of sales related to rapid, faster-than-expected gross originations growth during the first quarter of 2025 and the end of the fourth quarter of 2024.
    • Katapult ended the quarter with total cash and cash equivalents of $14.3 million, which includes $8.3 million of restricted cash. The Company ended the quarter with $77.8 million of outstanding debt on its credit facility.
    • Write-offs as a percentage of revenue were 9.0% in the first quarter of 2025 and are within the Company’s 8% to 10% long-term target range. This compares with 8.4% in the first quarter of 2024.

    [1] Repeat customer rate is defined as the percentage of in-quarter originations from existing customers.
    [2] Please refer to the “Reconciliation of Non-GAAP Measure and Certain Other Data” section and the GAAP to non-GAAP reconciliation tables below for more information.

    Second Quarter and Full Year 2025 Business Outlook

    The Company is continuing to navigate a challenging macro environment particularly within the home furnishings category. Given the current breadth of our merchant selection as well as our plans to introduce new merchants to the Katapult App Marketplace during 2025, our strategic marketing and our strong consumer offering, we believe we are well positioned to deliver continued growth in 2025. We continue to believe that we have a large addressable market of underserved, non-prime consumers, and it’s important to note that lease-to-own solutions have historically benefited when prime credit options become less available.

    Given our quarter-to-date progress, Katapult expects the following results for the second quarter of 2025:

    • 25% to 30% year-over-year increase in gross originations
    • 17% to 20% year-over-year increase in revenue
    • Approximately breakeven Adjusted EBITDA

    Based on the macroeconomic assumptions above and the operating plan in place for the full year 2025, Katapult is reiterating its expectations for full year 2025:

    • We expect gross originations to grow at least 20%

    This outlook does not include any material impact from prime creditors tightening or loosening above us and assumes that there are no significant changes to the macro environment.

    Both our second quarter and full year outlooks assume that the gross originations for the home furnishings and mattress category do not improve materially from our 2024 performance.

    • We also expect to maintain strong credit quality in our portfolio. This will be driven by ongoing enhancements to our risk modeling, onboarding high quality new merchants through integrations, and repeat customers engaging with Katapult Pay
    • Revenue growth is expected to be at least 20%
    • Finally, with the continued execution of our disciplined expense management strategy combined with our growing top-line, we expect to deliver at least $10 million in positive Adjusted EBITDA

    “The first quarter came in stronger than our outlook, and we are continuing to successfully grow our top-line without meaningfully increasing our expense base,” said Nancy Walsh, CFO of Katapult. “The second quarter is off to a great start and we believe we can continue to scale our business by offering a transparent and fair LTO product to consumers and a growth engine to our partners. Our team’s hard work and agile execution is fueling our growth and we are looking forward to a great 2025.”

    Conference Call and Webcast

    The Company will host a conference call and webcast at 8:00 AM ET on Thursday, May 15, 2025, to discuss the Company’s financial results. Related presentation materials will be available before the call on the Company’s Investor Relations page at https://ir.katapultholdings.com. The conference call will be broadcast live in listen-only mode and an archive of the webcast will be available for one year.

    About Katapult

    Katapult is a technology driven lease-to-own platform that integrates with omnichannel retailers and e-commerce platforms to power the purchasing of everyday durable goods for underserved U.S. non-prime consumers. Through our point-of-sale (POS) integrations and innovative mobile app featuring Katapult Pay(R), consumers who may be unable to access traditional financing can shop a growing network of merchant partners. Our process is simple, fast, and transparent. We believe that seeing the good in people is good for business, humanizing the way underserved consumers get the things they need with payment solutions based on fairness and dignity.

    Contact

    Jennifer Kull
    VP of Investor Relations
    ir@katapult.com

    Forward-Looking Statements

    Certain statements included in this Press Release and on our quarterly earnings call that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements may be identified by words such as “anticipate,” “assume,” “believe,” “continue,” “could,” “design,” “estimate,” “expect,” “intend,” “may,” “plan,” “potentially,” “predict,” “should,” “will,” “would,” or the negative of these terms or other similar expressions. These forward-looking statements include, but are not limited to: in this Press Release and on our associated earnings call, statements regarding our second quarter of 2025 and full year 2025 business outlook and underlying expectations and assumptions and statements regarding our ability to obtain a comprehensive maturity extension amendment to our credit facility. These statements are based on various assumptions, whether or not identified in this Press Release, and on the current expectations of our management and are not predictions of actual performance.

    These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond our control. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, our ability to refinance our indebtedness and continue as a going concern, the execution of our business strategy and expanding information and technology capabilities; our market opportunity and our ability to acquire new customers and retain existing customers; adoption and success of our mobile application featuring Katapult Pay; the timing and impact of our growth initiatives on our future financial performance; anticipated occurrence and timing of prime lending tightening and impact on our results of operations; general economic conditions in the markets where we operate, the cyclical nature of customer spending, and seasonal sales and spending patterns of customers; risks relating to factors affecting consumer spending that are not under our control, including, among others, levels of employment, disposable consumer income, inflation, prevailing interest rates, consumer debt and availability of credit, consumer confidence in future economic conditions, political conditions, and consumer perceptions of personal well-being and security and willingness and ability of customers to pay for the goods they lease through us when due; risks relating to uncertainty of our estimates of market opportunity and forecasts of market growth; risks related to the concentration of a significant portion of our transaction volume with a single merchant partner, or type of merchant or industry; the effects of competition on our future business; meet future liquidity requirements and complying with restrictive covenants related to our long-term indebtedness; the impact of unstable market and economic conditions such as rising inflation and interest rates; reliability of our platform and effectiveness of our risk model; data security breaches or other information technology incidents or disruptions, including cyber-attacks, and the protection of confidential, proprietary, personal and other information, including personal data of customers; ability to attract and retain employees, executive officers or directors; effectively respond to general economic and business conditions; obtain additional capital, including equity or debt financing and servicing our indebtedness; enhance future operating and financial results; anticipate rapid technological changes, including generative artificial intelligence and other new technologies; comply with laws and regulations applicable to our business, including laws and regulations related to rental purchase transactions; stay abreast of modified or new laws and regulations applying to our business, including with respect to rental purchase transactions and privacy regulations; maintain and grow relationships with merchants and partners; respond to uncertainties associated with product and service developments and market acceptance; the impacts of new U.S. federal income tax laws; material weaknesses in our internal control over financial reporting which, if not identified and remediated, could affect the reliability of our financial statements; successfully defend litigation; litigation, regulatory matters, complaints, adverse publicity and/or misconduct by employees, vendors and/or service providers; and other events or factors, including those resulting from civil unrest, war, foreign invasions (including the conflict involving Russia and Ukraine and the Israel-Hamas conflict), terrorism, public health crises and pandemics (such as COVID-19), trade wars, or responses to such events; our ability to meet the minimum requirements for continued listing on the Nasdaq Global Market; and those factors discussed in greater detail in the section entitled “Risk Factors” in our periodic reports filed with the Securities and Exchange Commission (“SEC”), including the Annual Report on Form 10-K for the year ended December 31, 2024 that we filed with the SEC.

    If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that we do not presently know or that we currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Undue reliance should not be placed on the forward-looking statements in this Press Release or on our quarterly earnings call. All forward-looking statements contained herein or expressed on our quarterly earnings call are based on information available to us as of the date hereof, and we do not assume any obligation to update these statements as a result of new information or future events, except as required by law. If we do update one or more forward-looking statements, no inference should be made that we will make additional updates with respect to those or other forward-looking statements.

    Key Performance Metrics

    Katapult regularly reviews several metrics, including the following key metrics, to evaluate its business, measure its performance, identify trends affecting our business, formulate financial projections and make strategic decisions, which may also be useful to an investor: gross originations, total revenue, gross profit, adjusted gross profit and adjusted EBITDA.

    Gross originations are defined as the retail price of the merchandise associated with lease-purchase agreements entered into during the period through the Katapult platform. Gross originations do not represent revenue earned. However, we believe this is a useful operating metric for both Katapult’s management and investors to use in assessing the volume of transactions that take place on Katapult’s platform.

    Total revenue represents the summation of rental revenue and other revenue. Katapult measures this metric to assess the total view of pay through performance of its customers. Management believes looking at these components is useful to an investor as it helps to understand the total payment performance of customers.

    Gross profit represents total revenue less cost of revenue, and is a measure presented in accordance with generally accepted accounting principles in the United States (“GAAP”). See the “Non-GAAP Financial Measures” section below for a description and presentation of adjusted gross profit and adjusted EBITDA, which are non-GAAP measures utilized by management.

    Non-GAAP Financial Measures

    To supplement the financial measures presented in this press release and related conference call or webcast in accordance with GAAP, the Company also presents the following non-GAAP and other measures of financial performance: adjusted gross profit, adjusted EBITDA, adjusted net income/(loss) and fixed cash operating expenses. The Company believes that for management and investors to more effectively compare core performance from period to period, the non-GAAP measures should exclude items that are not indicative of our results from ongoing business operations.The Company urges investors to consider non-GAAP measures only in conjunction with its GAAP financials and to review the reconciliation of the Company’s non-GAAP financial measures to its comparable GAAP financial measures, which are included in this press release.

    Adjusted gross profit represents gross profit less variable operating expenses, which are servicing costs, and underwriting fees. Management believes that adjusted gross profit provides a meaningful understanding of one aspect of its performance specifically attributable to total revenue and the variable costs associated with total revenue.

    Adjusted EBITDA is a non-GAAP measure that is defined as net loss before interest expense and other fees, interest income, change in fair value of warrants and loss on issuance of shares, provision for income taxes, depreciation and amortization on property and equipment and capitalized software, provision of impairment of leased assets, loss on partial extinguishment of debt, stock-based compensation expense, litigation settlement and other related expenses, and debt refinancing costs.

    Adjusted net income (loss) is a non-GAAP measure that is defined as net loss before change in fair value of warrants and loss on issuance of shares, stock-based compensation expense and litigation settlement and other related expenses and debt refinancing costs.

    Fixed cash operating expenses is a non-GAAP measure that is defined as operating expenses less depreciation and amortization on property and equipment and capitalized software, stock-based compensation expense, litigation settlement and other related expenses, debt refinancing costs, and variable lease costs such as servicing costs and underwriting fees. Management believes that fixed cash operating expenses provides a meaningful understanding of non-variable ongoing expenses.

    Adjusted gross profit, adjusted EBITDA and adjusted net loss are useful to an investor in evaluating the Company’s performance because these measures:

    • Are widely used to measure a company’s operating performance;
    • Are financial measurements that are used by rating agencies, lenders and other parties to evaluate the Company’s credit worthiness; and
    • Are used by the Company’s management for various purposes, including as measures of performance and as a basis for strategic planning and forecasting.

    Management believes that the use of non-GAAP financial measures, as a supplement to GAAP measures, is useful to investors in that they eliminate items that are not part of our core operations, highly variable or do not require a cash outlay, such as stock-based compensation expense. Management uses these non-GAAP financial measures when evaluating operating performance and for internal planning and forecasting purposes. Management believes that these non-GAAP financial measures help indicate underlying trends in the business, are important in comparing current results with prior period results and are useful to investors and financial analysts in assessing operating performance. However, these non-GAAP measures exclude items that are significant in understanding and assessing Katapult’s financial results. Therefore, these measures should not be considered in isolation or as alternatives to revenue, net loss, gross profit, cash flows from operations or other measures of profitability, liquidity or performance under GAAP. You should be aware that Katapult’s presentation of these measures may not be comparable to similarly titled measures used by other companies.

     
    KATAPULT HOLDINGS, INC. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
    (amounts in thousands, except per share data)
      Three Months Ended March 31,
        2025       2024  
           
    Revenue      
    Rental revenue $ 71,078     $ 64,142  
    Other revenue   868       919  
    Total revenue   71,946       65,061  
    Cost of revenue   57,597       48,573  
    Gross profit   14,349       16,488  
    Operating expenses   14,885       12,688  
    Income (loss) from operations   (536 )     3,800  
    Interest expense and other fees   (5,144 )     (4,527 )
    Interest income   57       324  
    Change in fair value of warrant liability   (36 )     (162 )
    Loss before income taxes   (5,659 )     (565 )
    Provision for income taxes   (29 )     (5 )
    Net loss $ (5,688 )   $ (570 )
           
    Weighted average common shares outstanding – basic and diluted   4,618       4,242  
           
    Net loss per common share – basic and diluted $ (1.23 )   $ (0.13 )
     
    KATAPULT HOLDINGS, INC. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (dollars in thousands, except per share data)
      March 31,   December 31,
        2025       2024  
      (unaudited)    
    ASSETS      
    Current assets:      
    Cash and cash equivalents $ 5,965     $ 3,465  
    Restricted cash   8,346       13,087  
    Property held for lease, net of accumulated depreciation and impairment   66,913       67,085  
    Prepaid expenses and other current assets   4,445       6,731  
    Total current assets   85,669       90,368  
    Property and equipment, net   244       253  
    Capitalized software and intangible assets, net   2,155       2,076  
    Right-of-use assets, non-current   376       383  
    Security deposits   91       91  
    Total assets $ 88,535     $ 93,171  
    LIABILITIES AND STOCKHOLDERS’ DEFICIT      
    Current liabilities:      
    Accounts payable $ 3,040     $ 1,491  
    Accrued liabilities   18,945       17,372  
    Accrued litigation settlement   2,199       2,199  
    Unearned revenue   5,711       4,823  
    Revolving line of credit, net   77,663       82,582  
    Term loan, net, current   31,490       30,047  
    Lease liabilities   129       179  
    Total current liabilities   139,177       138,693  
    Lease liabilities, non-current   431       444  
    Other liabilities   614       828  
    Total liabilities   140,222       139,965  
    STOCKHOLDERS’ DEFICIT      
    Common stock, $.0001 par value– 250,000,000 shares authorized; 4,483,544 and 4,446,540 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively   —       —  
    Additional paid-in capital   102,452       101,657  
    Accumulated deficit   (154,139 )     (148,451 )
    Total stockholders’ deficit   (51,687 )     (46,794 )
    Total liabilities and stockholders’ deficit $ 88,535     $ 93,171  
     
    KATAPULT HOLDINGS, INC. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
    (dollars in thousands)
      Three Months Ended March 31,
        2025       2024  
    Cash flows from operating activities:      
    Net loss $ (5,688 )   $ (570 )
    Adjustments to reconcile net loss to net cash provided by operating activities:      
    Depreciation and amortization   39,392       34,026  
    Depreciation for early lease purchase options (buyouts)   9,664       7,613  
    Depreciation for impaired leases   6,632       5,636  
    Change in fair value of warrants and other non-cash items   36       162  
    Stock-based compensation   1,066       1,391  
    Amortization of debt discount   963       669  
    Amortization of debt issuance costs, net   88       66  
    Accrued PIK interest expense   480       347  
    Amortization of right-of-use assets   76       76  
    Changes in operating assets and liabilities:      
    Property held for lease   (55,185 )     (45,249 )
    Prepaid expenses and other current assets   2,217       1,029  
    Accounts payable   1,549       754  
    Accrued liabilities   1,573       (4,123 )
    Accrued litigation   (250 )     —  
    Lease liabilities   (63 )     (55 )
    Unearned revenues   888       208  
    Net cash provided by operating activities   3,438       1,980  
    Cash flows from investing activities:      
    Purchases of property and equipment   (24 )     —  
    Additions to capitalized software   (377 )     (126 )
    Net cash used in investing activities   (401 )     (126 )
    Cash flows from financing activities:      
    Proceeds from revolving line of credit   5,128       10,058  
    Principal repayments on revolving line of credit   (10,135 )     (2,840 )
    Repurchases of restricted stock   (271 )     (312 )
    Net cash (used in) provided by financing activities   (5,278 )     6,906  
    Net (decrease) increase in cash, cash equivalents and restricted cash   (2,241 )     8,760  
    Cash and cash equivalents and restricted cash at beginning of period   16,552       28,811  
    Cash and cash equivalents and restricted cash at end of period $ 14,311     $ 37,571  
    Supplemental disclosure of cash flow information:      
    Cash paid for interest $ 3,661     $ 3,382  
    Cash paid for income taxes $ —     $ 112  
    Cash paid for operating leases $ 111     $ 82  
     
    KATAPULT HOLDINGS, INC.
    RECONCILIATION OF NON-GAAP MEASURES AND CERTAIN OTHER DATA (UNAUDITED)
    (amounts in thousands)
      Three Months Ended March 31,
        2025       2024  
           
    Net loss $ (5,688 )   $ (570 )
    Add back:      
    Interest expense and other fees   5,144       4,527  
    Interest income   (57 )     (324 )
    Change in fair value of warrants   36       162  
    Provision for income taxes   29       5  
    Depreciation and amortization on property and equipment and capitalized software   330       266  
    Provision for impairment of leased assets   150       173  
    Stock-based compensation expense   1,066       1,391  
    Litigation settlement and other related expenses   259     $ —  
    Debt refinancing costs $ 971       —  
    Adjusted EBITDA $ 2,240     $ 5,630  
     
      Three Months Ended March 31,
        2025       2024  
           
    Net loss $ (5,688 )   $ (570 )
    Add back:      
    Change in fair value of warrants   36       162  
    Stock-based compensation expense   1,066       1,391  
    Litigation settlement and other related expenses   259       —  
    Debt refinancing costs   971       —  
    Adjusted net income (loss) $ (3,356 )   $ 983  
     
      Three Months Ended March 31,
        2025       2024  
           
    Operating expenses $ 14,885     $ 12,688  
    Less:      
    Depreciation and amortization on property and equipment and capitalized software   330       266  
    Stock-based compensation expense   1,066       1,391  
    Servicing costs   1,085       1,132  
    Underwriting fees   772       509  
    Litigation settlement and other related expenses   259       —  
    Debt refinancing costs   971     $ —  
    Fixed cash operating expenses $ 10,402     $ 9,390  
    (in thousands) Three Months Ended March 31,  
        2025       2024  
             
    Total revenue $ 71,946     $ 65,061  
    Cost of revenue   57,597       48,573  
    Gross profit   14,349       16,488  
    Less:        
    Servicing costs   1,085       1,132  
    Underwriting fees   772       509  
    Adjusted gross profit $ 12,492     $ 14,847  
     
    CERTAIN KEY PERFORMANCE METRICS
     
    (in thousands) Three Months Ended March 31,  
        2025       2024  
    Total revenue $ 71,946     $ 65,061  
     
    KATAPULT HOLDINGS, INC.
    GROSS ORIGINATIONS BY QUARTER
        Gross Originations by Quarter
    ($ millions)   Q1   Q2   Q3   Q4
    FY 2025   $ 64.2     $ —     $ —     $ —  
    FY 2024   $ 55.6     $ 55.3     $ 51.2     $ 75.2  
    FY 2023   $ 54.7     $ 54.7     $ 49.6     $ 67.5  
    FY 2022   $ 46.7     $ 46.4     $ 44.1     $ 59.8  
    FY 2021   $ 63.8     $ 64.4     $ 61.0     $ 58.9  

    The MIL Network –

  • MIL-OSI: Dragonfly Energy Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    First Quarter Net Sales and Adjusted EBITDA Above Guidance
    OEM Net Sales Increased 11% Year-Over-Year
    Corporate Optimization Program Enhances Operational Efficiencies
    Guides to Second Quarter Net Sales of Approximately $14.8 Million

    First Quarter 2025 Financial Highlights
    (All comparisons made are against the prior-year period)

    • Net sales were $13.4 million, compared to $12.5 million, up 6.8%.
    • OEM net sales were $8.1 million, compared to $7.3 million, up 10.8%.
    • Gross Margin was 29.4%, compared to 24.4%, up 500 basis points.
    • Net Loss was $(6.8) million, compared to $(10.4) million.
    • Adjusted EBITDA was $(3.6) million, compared to $(5.2) million.

    RENO, Nev., May 15, 2025 (GLOBE NEWSWIRE) — Dragonfly Energy Holdings Corp. (“Dragonfly Energy” or the “Company”) (Nasdaq: DFLI), an industry leader in energy storage and battery technology, today reported its financial and operational results for the first quarter ended March 31, 2025.

    “We are pleased to report a second consecutive quarter of year-over-year revenue growth, driven by demand from OEM customers, demonstrating the strength of our long-term partnerships, proprietary product offerings and compelling value propositions,” commented Dr. Denis Phares, Chief Executive Officer. “While the RV market continues to navigate headwinds, we are seeing encouraging customer adoption trends, along with continued penetration of the large heavy duty trucking market.”

    “During the first quarter of 2025, we continued to implement our corporate optimization initiative, prioritizing product development to drive near term revenue and profit. For instance, this strategic shift is accelerating our development of purpose-built solutions for the trucking and industrial markets, resulting in the recent launch of our Battle Born DualFlow Power Pack, a practical, cost-effective hybrid electrification solution for the trucking industry.”

    “We have also focused on optimizing our manufacturing efficiency and throughput, enabling us to increase our production capacity without the need for increased headcount,” continued Dr. Phares. “We believe these operational improvements, together with the capital raise completed in February 2025, provide the foundation for our path to revenue growth and profitability.”

    First Quarter 2025 Financial and Operating Results
    (All financial result comparisons made are against the prior-year period unless otherwise noted)

     
    Net Sales by Customer Type
    (in thousands)
           
      Fiscal Quarter Ended  
      March 31, 2025 March 31, 2024 Change (YoY)
    OEM $8,091 $7,302 10.8%
    DTC $5,015 $5,203 -3.6%
    Licensing Fee $250 N/A N/A
    Net Sales $13,356 $12,505 6.8%
     

    Net Sales increased 6.8% to $13.4 million. OEM net sales grew 10.8% to $8.1 million, driven by increased adoption on new models by existing customers. DTC net sales were $5.0 million compared to $5.2 million, reflecting ongoing macroeconomic pressures.

    Gross Profit increased 28.7% to $3.9 million. Gross Margin was 29.4%, up 500 basis points from 24.4%, due to higher volume. Operating Expenses were $9.8 million, compared to $8.9 million. The increase was primarily due to one-time expenses related to patent litigation and the capital raise completed in February 2025.

    The Company reported a Net Loss of $(6.8) million, or $(0.93) per diluted share, compared to Net Loss of $(10.4) million or $(1.55) per diluted share. Adjusted EBITDA excluding stock-based compensation, changes in the fair market value of our warrants, and other one-time expenses, was $(3.6) million, compared to $(5.2) million.

    Summary and Outlook

    “Looking ahead, we believe Dragonfly Energy’s growing U.S.-based production capabilities—including direct control over final assembly—along with our strategic onshoring of select components, will help strengthen our competitive position in today’s volatile tariff environment. In parallel, we are taking steps to mitigate tariff-related impacts by negotiating favorable terms with suppliers and working closely with key customers regarding potential price adjustments. We remain optimistic in our ability to navigate the current macro environment while continuing to execute on our growth initiatives.”

    “For the second quarter we anticipate net sales of $14.8 million, representing year-over-year growth of approximately 12%. Our strategic priorities for the year remain focused on driving value through product innovation, revenue diversification, and prudent cost management” Dr. Phares concluded.

    Q2 2025 Guidance

    • Net Sales of approximately $14.8 million
    • Adjusted EBITDA of approximately $(3.5) million

    Webcast Information

    The Dragonfly Energy management team will host a conference call to discuss its first quarter 2025 financial and operational this afternoon, May 15, 2025, at 4:30PM Eastern Time. The call can be accessed live via webcast by clicking here, or through the Events and Presentations page within the Investor Relations section of Dragonfly Energy’s website at https://investors.dragonflyenergy.com/events-and-presentations/default.aspx. The call can also be accessed live via telephone by dialing (646) 564-2877, toll-free in North America (800) 549-8228, or for international callers +1 (289) 819-1520, and referencing conference ID: 76172. Please log in to the webcast or dial in to the call at least 10 minutes prior to the start of the event.

    An archive of the webcast will be available for a period of time shortly after the call on the Events and Presentations page on the Investor Relations section of Dragonfly Energy’s website, along with the earnings press release.

    About Dragonfly Energy

    Dragonfly Energy Holdings Corp. (Nasdaq: DFLI) is a comprehensive lithium battery technology company, specializing in cell manufacturing, battery pack assembly, and full system integration. Through its renowned Battle Born Batteries® brand, Dragonfly Energy has established itself as a frontrunner in the lithium battery industry, with hundreds of thousands of reliable battery packs deployed in the field through top-tier OEMs and a diverse retail customer base. At the forefront of domestic lithium battery cell production, Dragonfly Energy’s patented dry electrode manufacturing process can deliver chemistry-agnostic power solutions for a broad spectrum of applications, including energy storage systems, electric vehicles, and consumer electronics. The Company’s overarching mission is the future deployment of its proprietary, nonflammable, all-solid-state battery cells.

    To learn more about Dragonfly Energy and its commitment to clean energy advancements, visit https://investors.dragonflyenergy.com/.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding the Company’s intent, belief or expectations, including, but not limited to, statements regarding the Company’s guidance for 2025, results of operations and financial position, planned products and services, business strategy and plans, market size and growth opportunities, competitive position and technological and market trends. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions.

    These forward-looking statements are subject to risks, uncertainties, and other factors (some of which are beyond the Company’s control) which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that may impact such forward-looking statements include, but are not limited to: improved recovery in the Company’s core markets, including the RV market; the Company’s ability to successfully increase market penetration into target markets; the Company’s ability to penetrate the heavy-duty trucking and other new markets; the growth of the addressable markets that the Company intends to target; the Company’s ability to retain members of its senior management team and other key personnel; the Company’s ability to maintain relationships with key suppliers including suppliers in China; the Company’s ability to maintain relationships with key customers; the Company’s ability to access capital as and when needed under its $150 million ChEF Equity Facility; the Company’s ability to protect its patents and other intellectual property; the Company’s ability to successfully utilize its patented dry electrode battery manufacturing process and optimize solid state cells as well as to produce commercially viable solid state cells in a timely manner or at all, and to scale to mass production; the Company’s ability to timely achieve the anticipated benefits of its licensing arrangement with Stryten Energy LLC; the Company’s ability to achieve the anticipated benefits of its customer arrangements with THOR Industries and THOR Industries’ affiliated brands (including Keystone RV Company); the Company’s ability to maintain the listing of its common stock and public warrants on the Nasdaq Capital Market; the Russian/Ukrainian conflict; the Company’s ability to generate revenue from future product sales and its ability to achieve and maintain profitability; and the Company’s ability to compete with other manufacturers in the industry and its ability to engage target customers and successfully convert these customers into meaningful orders in the future. These and other risks and uncertainties are described more fully in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 to be filed with the SEC and in the Company’s subsequent filings with the SEC available at www.sec.gov.

    If any of these risks materialize or any of the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company presently does not know or that it currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements contained in this press release speak only as of the date they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    Financial Tables

     
    Dragonfly Energy Holdings Corp.
    Unaudited Condensed Consolidated Balance Sheets
    (U.S. Dollars in thousands, except share and per share data)
           
      As of
      March 31, 2025   December 31, 2024
    Current Assets      
    Cash and cash equivalents $ 2,803     $ 4,849  
    Accounts receivable, net of allowance for credit losses 4,228     2,416  
    Inventory 21,728     21,716  
    Prepaid expenses 932     806  
    Prepaid inventory 2,031     1,362  
    Prepaid income tax 311     307  
    Assets held of sale 644     644  
    Other current assets 771     825  
    Total Current Assets 33,448     32,925  
    Property and Equipment      
    Property and Equipment, Net 21,252     22,107  
    Operating lease right of use asset 19,079     19,737  
    Other assets 445     445  
    Total Assets $ 74,224     $ 75,214  
    Current Liabilities      
    Accounts payable $ 13,012     $ 10,716  
    Accrued payroll and other liabilities 4,438     4,129  
    Accrued tariffs 1,945     1,915  
    Accrued settlement, current portion 750     750  
    Customer deposits 137     317  
    Deferred revenue, current portion 1,000     1,000  
    Uncertain tax position liability 55     55  
    Operating lease liability, current portion 2,985     2,926  
    Financing lease liability, current portion 48     47  
    Total Current Liabilities 24,370     21,855  
    Long‑Term Liabilities      
    Deferred revenue, net of current portion 3,333     3,583  
    Warrant liabilities 2,011     5,133  
    Accrued settlement, net of current portion 1,750     1,750  
    Notes payable, net of debt issuance costs 33,624     29,646  
    Operating lease liability, net of current portion 21,823     22,588  
    Financing lease liability, net of current portion 51     63  
    Total Long‑Term Liabilities 62,592     62,763  
    Total Liabilities 86,962     84,618  
    Commitments and Contingencies (See Note 5)      
    Series A Preferred stock      
    Preferred stock-Series A 5,000 shares at $0.0001 par value, authorized, 
    320 and 0 shares issued and outstanding as of March 31, 2025 and 
    December 31, 2024, respectively    		 2,907     –  
    Stockholders’ (Deficit) Equity      
    Preferred stock, 4,995,000 shares at $0.0001 par value, authorized, no shares issued and
    outstanding as of March 31, 2025 and December 31, 2024, respectively    		   –       –  
    Common stock, 250,000,000 shares at $0.0001 par value, authorized, 7,589,642 and 6,695,587
    shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively    		 1     1  
    Additional paid in capital 73,305     72,749  
    Accumulated deficit (88,951 )   (82,154 )
    Total Stockholders’ (Deficit) (15,645 )   (9,404 )
    Total Liabilities, Series A Preferred Stock and Stockholders’ Deficit $ 74,224     $ 75,214  
           
    Dragonfly Energy Holdings Corp.
    Unaudited Condensed Interim Consolidated Statement of Operations
    (U.S. Dollar in Thousands, except share and per share data)
      Three Months Ended
      March 31,   March 31,
        2025       2024  
           
    Net Sales $ 13,356     $ 12,505  
           
    Cost of Goods Sold   9,428       9,454  
           
    Gross Profit   3,928       3,051  
           
    Operating Expenses      
    Research and development   1,000       1,333  
    General and administrative   6,357       4,813  
    Selling and marketing   2,485       2,744  
           
    Total Operating Expenses   9,842       8,890  
           
    Loss From Operations   (5,914 )     (5,839 )
           
    Other Income (Expense)      
    Interest expense   (4,701 )     (4,760 )
    Other Expense   –       (4 )
    Change in fair market value of warrant liability   3,818       236  
    Total Other Expense   (883 )     (4,528 )
           
    Net Loss Before Taxes   (6,797 )     (10,367 )
           
    Income Tax (Benefit) Expense   –       –  
           
    Net Loss $ (6,797 )   $ (10,367 )
           
    Net (Loss) Gain Per Share‑ Basic & Diluted $ (0.93 )   $ (1.55 )
    Weighted Average Number of Shares‑ Basic & Diluted   7,327,620       6,695,587  
           
    Dragonfly Energy Holdings Corp.
    Unaudited Condensed Consolidated Statement of Cash Flows
    Three Months Ended
    (U.S. in thousands)
        March 31,        March 31,   
        2025       2024  
    Cash flows from Operating Activities      
    Net Loss $ (6,797 )   $ (10,367 )
    Adjustments to Reconcile Net Loss to Net Cash      
    Used in Operating Activities      
    Stock based compensation   220       266  
    Amortization of debt discount   1,095       894  
    Change in fair market value of warrant liability   (3,818 )     (236 )
    Non‑cash interest expense (paid‑in-kind)   3,579       1,260  
    Provision for credit losses   103       47  
    Depreciation and amortization   859       332  
    Amortization of right of use assets   658       422  
    Changes in Assets and Liabilities      
    Accounts receivable   (1,915 )     (655 )
    Inventories   (12 )     5,200  
    Prepaid expenses   (126 )     (71 )
    Prepaid inventory   (669 )     (87 )
    Other current assets   54       (591 )
    Income taxes payable   (4 )     174  
    Accounts payable and accrued expenses   3,379       81  
    Operating Lease Liability   (717 )     (181 )
    Accrued tariffs   30       87  
    Deferred revenue   (250 )     –  
    Customer deposits   (180 )     30  
    Total Adjustments   2,286       6,972  
    Net Cash Used in Operating Activities   (4,511 )     (3,395 )
           
    Cash Flows From Investing Activities      
    Proceeds from disposal of property and equipment –      –  
    Purchase of property and equipment   (778 )     (817 )
    Net Cash Used in Investing Activities   (778 )     (817 )
           
    (Continued)      
    Cash Flows From Financing Activities      
    Proceeds from public offering   63       –  
    Payment of public offering costs   3,180       –  
    Proceeds from note payable, related party   –       2,700  
    Repayment of note payable, related party   –       (2,700 )
    Net Cash Provided by Financing Activities   3,243       –  
           
    Net Decrease in Cash and cash equivalents   (2,046 )     (4,212 )
    Cash and cash equivalents – beginning of period   4,849       12,713  
    Cash and cash equivalents – end of period $ 2,803     $ 8,501  
           
    Supplemental Disclosures of Cash Flow Information:      
    Cash paid for income taxes   2       –  
    Cash paid for interest $ 1     $ 2,390  
    Supplemental Non‑Cash Items      
    Purchases of property and equipment, not yet paid $ 929     $ 412  
    Recognition of right of use asset obtained in exchange for operating lease liability $ –     $ 21,095  
    Conversion of preferred stock to common stock $ 273     $ –  
    Recognition of warrant liability – Investor Warrants $ 696     $ –  
           
    Dragonfly Energy Holdings Corp.
    Reconciliation of GAAP to Non-GAAP Measures (Unaudited)
    (U.S. Dollars in Thousands)
      Three Months Ended
      March 31,   March 31,
        2025       2024  
    EBITDA Calculation      
    Net (Loss) Income Before Taxes $ (6,797 )   $ (10,367 )
    Interest Expense   4,701       4,760  
    Taxes   –       –  
    Depreciation and Amortization   859       332  
    EBITDA $ (1,237 )   $ (5,275 )
           
    Adjustments to EBITDA      
    Stock Based Compensation   220       266  
    Preferred Stock Financing expenses   631      
    Litigation Fees and Loss on Settlement   543       –  
    Reverse Stock Split   15       –  
    Change in fair market value of warrant liability   (3,818 )     (236 )
    Adjusted EBITDA $ (3,645 )   $ (5,245 )
                   

    Investor Relations:
    Eric Prouty
    Szymon Serowiecki
    AdvisIRy Partners
    DragonflyIR@advisiry.com

    The MIL Network –

  • MIL-OSI: BIO-key Reports Q1’25 Revenue of $1.6M and Improved Cash Position of $3.1M; Hosts Investor Call Tomorrow, Friday May 16th at 10am ET

    Source: GlobeNewswire (MIL-OSI)

    HOLMDEL, N.J., May 15, 2025 (GLOBE NEWSWIRE) — BIO-key® International, Inc. (Nasdaq: BKYI), an innovative provider of workforce and customer Identity and Access Management (IAM) solutions featuring passwordless, phoneless and tokenless Identity-Bound Biometric (IBB) authentication, announced results for its first quarter (Q1’25). BIO-key will host an investor call tomorrow, Friday, May 16th at 10:00am ET (details below).

    BIO-key CEO, Mike DePasquale commented, “Our revenue rose approximately 10% sequentially vs. Q4’24, as we continue our transition to selling high-margin BIO-key branded products in Europe, the Middle East and Africa (EMEA). Year-over-year revenue decreased 25% due to a $1.2M two-year contract with a long-term financial services customer we closed in Q1’24, as compared to $690k recorded in Q1’25 from the customer’s addition of incremental biometric capabilities. We expect revenue from this customer to increase significantly in the next two-year period commencing in 2026, due to their expanding deployment and the addition of our one-to-many fingerprint-only biometric ID system that requires no card or account number for client Identification.

    “Our gross margin remained healthy in Q1 at 83%, and we reduced our selling, general and administrative expense by 23% year-over-year. Our cash position increased substantially to $3.1M reflecting proceeds from warrant exercises early in Q1’25. Since December 31, we have also reduced the principal balance on our outstanding note payable. These balance sheet improvements provide solid footing for BIO-key as we pursue new growth opportunities.”

    Q1 Highlights

    Mr. DePasquale continued, “Moving forward, we are seeing growing traction for our identity bound biometric solutions in defense/security and financial services applications that require the highest levels of security. In these use cases, our customers are drawn to our unique ability to authenticate the individual seeking data or network access rather than alternate factors that are far more prone to being compromised. We now support secure biometric authentication for a number of national and international defense and police organizations and are working to leverage these powerful endorsements in our business development efforts.

    “We continue to build our base of government and government related customers who appreciate the flexibility, ease of use and ability to support multiple authentication factors that create a compelling return on investment profile. We see growing interest in our unique passwordless, phoneless and tokenless authentication solutions, which meet the most pressing security and usability challenges.

    “We have built a solid presence in state, local and educational (SLED) markets domestically, as we now serve over 100 institutions with over 4M end users. In Q1’25 the Wyoming Department of Education deployed PortalGuard IDaaS, adding up to 20,000 SaaS end users. Additionally, many existing higher ed customers are migrating from our on-premises solution to PortalGuard IDaaS, further expanding our base of recurring revenue.

    “Building on this, we executed a strategic partnership and Joint Purchase Agreement in Q1’25 with California’s Education Technology Joint Powers Authority (Ed Tech JPA), resulting in PortalGuard becoming an approved solution for the alliance’s 195 K-12 schools and districts, servicing over 2.6M students. Importantly, BIO-key solutions are uniquely positioned to comply with California’s Phone-Free Schools Act (AB-1326) policies limiting or prohibiting smartphone use in schools by July 2026. Most competing solutions rely on phone authenticators or hardware security keys, neither of which are practical solutions for schools.

    “From a strategic standpoint, we are excited about the revenue and margin potential in EMEA now that we have refocused our efforts on BIO-key solutions in those markets. Our transition away from Swivel Secure licensed solutions beginning in the second half of 2024 resulted in some challenging year-over-year revenue comparisons but we fully expect to return our EMEA performance to growth and enhanced margins over the remainder of 2025.

    “Based on the security, flexibility, ease of deployment and compelling ROI provided by our solutions, we feel well positioned to deliver improved top- and bottom-line results in 2025. However, given the timing of large customer orders or renewals, our financial performance is likely to fluctuate on a quarter-to-quarter basis. Given increasing interest in our biometric solutions, growing adoption of passwordless, phoneless and tokenless IAM solutions, our improved balance sheet, strong margin profile, and revenue traction in EMEA markets, we are very optimistic about our growth outlook. We also continue to seek opportunities to reduce costs and lower our breakeven level to support our path to positive cash flow and profitability.”

    Financial Results

    Total revenues decreased to $1,607,159 in Q1’25 from $2,181,203, mainly due to the impact of $1.2M in Q1’24 revenue from a 2-year renewal contract with a long-term financial services customer vs. $690k from this customer in Q1’25. License fee revenue decreased to $1,098,758 in Q1’25 from $1,950,434 a year ago, reflecting the variance in revenue from the long-term financial services customer, as well as the impact on revenue of transitioning from selling third-party Swivel Secure products and services to BIO-key products, in the EMEA region.

    Service revenues increased to $272,598 in Q1’25 from $213,122 in Q1’24, including approximately $265,000 and $193,000, respectively, of recurring maintenance and support revenue, and $8,000 and $20,000, respectively, of non-recurring custom services revenue. The recurring revenue increase of $72,000 or 37% was due to incremental support services for a large customer service agreement. Non-recurring custom services decreased due to the removal of a large Swivel Secure customer.

    Hardware sales increased to $235,803 in Q1’25 from $17,647 in Q1’24, due largely to increased purchases of fingerprint biometric scanners in support of certain customers’ expanded deployments in Q1’25.

    Gross profit decreased to $1,327,661 in Q1’25 from $1,881,560 in Q1’24, reflecting gross margins of 82.6% and 86.3%, respectively. The gross profit decline is due primarily to lower revenue in Q1’25 as well as the impact of higher levels of lower margin hardware revenue.

    BIO-key reduced its Q1’25 operating expenses by $422,195 to $1,968,299 from $2,390,494 in Q1’24, due to reductions of $410,449 in SG&A and $11,746 in research, development and engineering. Q1’25 SG&A expenses decreased 23% to $1,372,524 from $1,782,973 in Q1’24, reflecting reductions in administration, sales personnel costs, and professional service fees. The RD&E decrease was due primarily to lower rent costs.

    Reflecting lower revenues which was partially offset by lower operating costs, BIO-key’s Q1’25 net loss increased to $736,545, or ($0.16) per share, as compared to $510,285, or ($0.32) per share, in Q1’24.

    Balance Sheet

    As of March 31, 2025, BIO-key’s total current assets improved to $4.6M, including $3.1M of cash and cash equivalents, $0.8M of net accounts receivable and due from factor, and approximately $358,000 of inventory. This compares to total current assets of $1.9M at December 31, 2024, including approximately $438,000 of cash and cash equivalents, $0.8M of net accounts receivable and due from factor, and $378,000 of inventory.

    Conference Call Details

    Date / Time: Friday, May 16th at 10 a.m. ET
    Call Dial In #: 1-877-418-5460 U.S. or 1-412-717-9594 Int’l
    Live Webcast / Replay: Webcast & Replay Link – Available for 3 months.
    Audio Replay: 1-877-344-7529 U.S. or 1-412-317-0088 Int’l; code 6501265
       


    About BIO-key International, Inc.     (www.BIO-key.com)

    BIO-key is revolutionizing authentication and cybersecurity with biometric-centric, multi-factor identity and access management (IAM) software securing access for over forty million users. BIO-key allows customers to choose the right authentication factors for diverse use cases, including phoneless, tokenless, and passwordless biometric options. Its hosted or on-premise PortalGuard IAM solution provides cost-effective, easy-to-deploy, convenient, and secure access to computers, information, applications, and high-value transactions.

    BIO-key Safe Harbor Statement

    All statements contained in this press release other than statements of historical facts are “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 (the “Act”). The words “estimate,” “project,” “intends,” “expects,” “anticipates,” “believes” and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management’s beliefs, as well as assumptions made by, and information currently available to, management pursuant to the “safe-harbor” provisions of the Act. These statements are not guarantees of future performance or events and are subject to risks and uncertainties that may cause actual results to differ materially from those included within or implied by such forward-looking statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue; our ability to raise additional capital to satisfy working capital needs; our ability to continue as a going concern; our ability to protect our intellectual property; changes in business conditions; changes in our sales strategy and product development plans; changes in the marketplace; continued services of our executive management team; security breaches; competition in the biometric technology and identity access management industries; market acceptance of biometric products generally and our products under development; our ability to convert sales opportunities to customer contracts; our ability to expand into Asia, Africa and other foreign markets; our ability to migrate Swivel Secure customers to BIO-key and Portal Guard offerings; our ability to execute definitive agreements with Fiber Food Systems and/or its customers to utilize our access management solutions; our ability to integrate our solutions into any of Fiber Food System’s offerings; fluctuations in foreign currency exchange rates; the duration and extent of continued hostilities in Ukraine and its impact on our European customers; the impact of tariffs and other trade barriers which may make it more costly for us to import inventory from China and Hong Kong and certain product components from South Korea; delays in the development of products, the commercial, reputational and regulatory risks to our business that may arise as a consequence of the restatement of our financial statements, including any consequences of non-compliance with Securities and Exchange Commission and Nasdaq periodic reporting requirements; our temporary loss of the use of a Registration Statement on Form S-3 to register securities in the future; any disruption to our business that may occur on a longer-term basis should we be unable to continue to maintain effective internal controls over financial reporting, and statements of assumption underlying any of the foregoing as well as other factors set forth under the caption “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024 and other filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as required by law, we undertake no obligation to disclose any revision to these forward-looking statements whether as a result of new information, future events, or otherwise.

    Engage with BIO-key


    Investor Contacts

    William Jones, David Collins
    Catalyst IR
    BKYI@catalyst-ir.com or 212-924-9800

    BIO-KEY INTERNATIONAL, INC. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
    (Unaudited)
     
        Three Months Ended  
        March 31,  
        2025     2024  
    Revenues                
    Services   $ 272,598     $ 213,122  
    License fees     1,098,758       1,950,434  
    Hardware     235,803       17,647  
    Total revenues     1,607,159       2,181,203  
    Costs and other expenses                
    Cost of services     98,144       138,849  
    Cost of license fees     72,885       148,221  
    Cost of hardware     108,469       12,573  
    Total costs and other expenses     279,498       299,643  
    Gross profit     1,327,661       1,881,560  
                     
    Operating Expenses                
    Selling, general and administrative     1,372,524       1,782,973  
    Research, development and engineering     595,775       607,521  
    Total Operating Expenses     1,968,299       2,390,494  
    Operating loss     (640,638 )     (508,934 )
    Other income (expense)                
    Interest income     3       5  
    Loan fee amortization     (60,000 )     –  
    Interest expense     (35,910 )     (1,356 )
    Total other income (expense), net     (95,907 )     (1,351 )
                     
    Loss before provision for income tax     (736,545 )     (510,285 )
                     
    Provision for (income tax) tax benefit     –       –  
                     
    Net loss   $ (736,545 )   $ (510,285 )
                     
    Comprehensive loss:                
    Net loss   $ (736,545 )   $ (510,285 )
    Other comprehensive income (loss) – Foreign currency translation adjustment     6,803       (62,275 )
    Comprehensive loss   $ (729,742 )   $ (572,560 )
                     
    Basic and Diluted Loss per Common Share   $ (0.16 )   $ (0.32 )
                     
    Weighted Average Common Shares Outstanding:                
    Basic and diluted     4,702,421       1,615,323  
     
    BIO-KEY INTERNATIONAL, INC. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS
     
        March 31,     December 31,  
        2025     2024  
        (Unaudited)          
    ASSETS                
    Cash and cash equivalents   $ 3,133,752     $ 437,604  
    Accounts receivable, net     803,277       718,229  
    Due from factor     40,450       74,170  
    Inventory     357,842       378,307  
    Prepaid expenses and other     254,285       278,648  
    Total current assets     4,589,606       1,886,958  
    Equipment and leasehold improvements, net     122,986       140,198  
    Capitalized contract costs, net     375,705       409,426  
    Deposits and other assets     7,976       7,976  
    Operating lease right-of-use assets     67,142       73,372  
    Investments     5,000,000       5,000,000  
    Intangible assets, net     1,020,261       1,097,630  
    Total non-current assets     6,594,070       6,728,602  
    TOTAL ASSETS   $ 11,183,676     $ 8,615,560  
                     
    LIABILITIES                
    Accounts payable   $ 568,836     $ 818,187  
    Accrued liabilities     1,042,411       1,278,732  
    Note payable     762,151       1,525,977  
    Government loan – BBVA Bank, current portion     138,667       132,731  
    Deferred revenue, current     928,291       773,267  
    Operating lease liabilities, current portion     25,260       24,642  
    Total current liabilities     3,465,616       4,553,536  
    Deferred revenue, long term     136,931       196,237  
    Government loan – BBVA Bank – net of current portion     11,666       44,762  
    Operating lease liabilities, net of current portion     42,410       48,994  
    Total non-current liabilities     191,007       289,993  
    TOTAL LIABILITIES     3,656,623       4,843,529  
                     
    Commitments and Contingencies                
                     
    STOCKHOLDERS’ EQUITY                
                     
    Common stock — authorized, 170,000,000 shares; issued and outstanding; 5,814,041 and 3,715,483 of $.0001 par value at March 31, 2025 and December 31, 2024, respectively     582       372  
    Additional paid-in capital     137,514,825       133,030,271  
    Accumulated other comprehensive loss     56,093       49,290  
    Accumulated deficit     (130,044,447 )     (129,307,902 )
    TOTAL STOCKHOLDERS’ EQUITY     7,527,053       3,772,031  
    TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY   $ 11,183,676     $ 8,615,560  
     
    BIO-KEY INTERNATIONAL, INC. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
    (Unaudited)
     
        Three Months Ended March 31,  
        2025     2024  
                     
    CASH FLOW FROM OPERATING ACTIVITIES:                
    Net loss   $ (736,545 )   $ (510,285 )
    Adjustments to reconcile net loss to net cash used for operating activities:                
    Depreciation     21,782       23,808  
    Amortization of intangible assets     76,245       78,005  
    Amortization of capitalized contract costs     46,545       38,665  
    Amortization of Note Payable     60,000       –  
    Interest payable on Note     35,173       –  
    Operating leases right-of-use assets     6,230       13,686  
    Share and warrant-based compensation for employees and consultants     52,488       47,790  
    Stock based directors’ fees     9,002       9,003  
    Bad debts     15,000       100,000  
    Change in assets and liabilities:                
    Accounts receivable     (85,048 )     399,749  
    Due from factor     33,720       91,070  
    Capitalized contract costs     (12,824 )     (158,005 )
    Inventory     20,465       5,545  
    Prepaid expenses and other     24,363       (63,513 )
    Accounts payable     (259,571 )     (116,012 )
    Accrued liabilities     (236,321 )     (104,257 )
    Deferred revenue     95,718       455,868  
    Operating lease liabilities     (1,734 )     (14,033 )
    Net cash used in operating activities     (835,312 )     297,084  
    CASH FLOWS FROM INVESTING ACTIVITIES:                
    Capital expenditures     (4,570 )     (1,869 )
    Net cash used in investing activities     (4,570 )     (1,869 )
    CASH FLOW FROM FINANCING ACTIVITIES:                
    Offering costs     (248,783 )     (13,470 )
    Proceeds for exercise of warrants     3,813,057       1,400  
    Receipt of cash from Employee stock purchase plan     –       –  
    Repayment of government loan     (35,047 )     (41,821 )
    Net cash used in financing activities     3,529,227       (53,891 )
                     
    Effect of exchange rate changes     6,803       (62,275 )
                     
    NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS     2,696,148       179,049  
    CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD     437,604       511,400  
    CASH AND CASH EQUIVALENTS, END OF PERIOD   $ 3,133,752     $ 690,449  

    The MIL Network –

  • MIL-OSI: Signing Day Sports Announces Selected Financial Results for Quarter Ended March 31, 2025 and Provides Business Update

    Source: GlobeNewswire (MIL-OSI)

    Reduces Net Loss for Quarter by 66% Year-Over-Year, Reflecting Improved Operating Efficiency

     Strong Combine Participation and Scalable Digital Platform Expected to Drive Higher Margin Growth

    SCOTTSDALE, AZ, May 15, 2025 (GLOBE NEWSWIRE) — Signing Day Sports, Inc. (“Signing Day Sports” or the “Company”) (NYSE American: SGN), the developer of the Signing Day Sports app and platform to aid high school athletes in the recruitment process, today announced selected financial results for the quarter ended March 31, 2025, and provided a business update.

    Daniel Nelson, Chief Executive Officer and Chairman of Signing Day Sports, stated, “One of our primary objectives this quarter was to streamline costs and strike the right balance between growth and efficiency—resulting in a 66% year-over-year reduction in net loss. At the same time, we have seen strong athlete engagement through our national combine series and weekly recruiting webinars, which continues to expand our brand visibility. With enhancements to the digital platform and the signing of a new Sponsorship Agreement with the U.S. Army Bowl during the quarter, we believe we are well-positioned to drive growth in higher-margin, subscription-based revenues. We are also advancing strategic initiatives that we believe could significantly enhance long-term shareholder value. Overall, we have laid a strong foundation for scalable growth and meaningful returns, while continuing to enable new college recruiting opportunities for student-athletes and coaches nationwide.”

    During the first quarter of 2025, Signing Day Sports advanced its growth strategy by hosting five U.S. Army Bowl Regional Combines in key cities—Atlanta, Georgia; Orlando, Florida; Chicago, Illinois; Phoenix, Arizona; and Jackson, Mississippi—which attracted nearly 1,000 high school athletes. These events reinforce the strong demand for verified performance data and enhanced recruiting visibility.

    To extend this momentum, the Company expanded its digital footprint with weekly recruiting webinars that spotlight top student-athletes and promote direct engagement with college coaches. Signing Day Sports also renewed its role as the National Recruiting Partner to the U.S. Army Bowl through 2026, maintaining exclusive rights to national and regional combines and generating revenue from athlete registrations. Verified data collected from these events is automatically integrated into athlete profiles on the Company’s app, enhancing usability and value for both users and coaches.

    Financial highlights for the quarter ended March 31, 2025

    • Revenue totaled approximately $0.15 million for the three months ended March 31, 2025, compared to approximately $0.23 million for the comparable 2024 period.
    • General and administrative expenses were approximately $0.97 million for the three months ended March 31, 2025, compared to approximately $2.04 million for the 2024 period.
    • Net loss was approximately $0.84 million for the three months ended March 31, 2025, compared to a net loss of approximately $2.50 million in the same period in 2024.

    The selected results included in this press release should be reviewed together with the Company’s complete financial results for the quarter ended March 31, 2025. The complete financial results are available in the Company’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on May 15, 2025 and available at www.sec.gov.

    Signing Day Sports

    Signing Day Sports’ mission is to help student-athletes achieve their goal of playing college sports. Signing Day Sports’ app allows student-athletes to build their Signing Day Sports’ recruitment profile, which includes information college coaches need to evaluate and verify them through video technology. The Signing Day Sports app includes a platform to upload a comprehensive data set including video-verified measurables (such as height, weight, 40-yard dash, wingspan, and hand size), academic information (such as official transcripts and SAT/ACT scores), and technical skill videos (such as drills and mechanics that exemplify player mechanics, coordination, and development). For more information on Signing Day Sports, go to https://bit.ly/SigningDaySports.

    Forward-Looking Statements

    This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “may,” “could,” “will,” “should,” “would,” “expect,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “project” or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and other factors. These risks, uncertainties and other factors are described more fully in the section titled “Risk Factors” in the Company’s periodic reports which are filed with the Securities and Exchange Commission. These risks, uncertainties and other factors are, in some cases, beyond our control and could materially affect results. If one or more of these risks, uncertainties or other factors become applicable, or if our underlying assumptions prove to be incorrect, actual events or results may vary significantly from those implied or projected by the forward-looking statements. No forward-looking statement is a guarantee of future performance. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

    Investor Contacts:
    Crescendo Communications, LLC
    212-671-1020
    SGN@crescendo-ir.com

    The MIL Network –

  • MIL-OSI: United Community Banks, Inc. Announces Quarterly Cash Dividend on Common and Preferred Stock

    Source: GlobeNewswire (MIL-OSI)

    GREENVILLE, S.C., May 15, 2025 (GLOBE NEWSWIRE) — United Community Banks, Inc. (NYSE: UCB) (“United”, the “Company”), reported that its Board of Directors approved a quarterly cash dividend of $0.24 per share on the Company’s common stock. The dividend is payable July 3, 2025 to shareholders of record as of June 15, 2025.

    The Board of Directors also approved a quarterly cash dividend of $429.6875 per share (equivalent to $0.4296875 per depositary share or 1/1000th interest per share) on the Company’s 6.875% Non-Cumulative Perpetual Preferred Stock, Series I (NYSE: UCB PRI). The dividend is payable June 13, 2025 to shareholders of record on May 29, 2025.

    About United Community Banks, Inc.
    United Community Banks, Inc. (NYSE: UCB) is the financial holding company for United Community, a top 100 U.S. financial institution committed to building stronger communities and improving the financial health and well-being of its customers. United Community offers a full range of banking, mortgage and wealth management services. As of March 31, 2025, United Community Banks, Inc. had $27.9 billion in assets and operated 200 offices across Alabama, Florida, Georgia, North Carolina, South Carolina and Tennessee. The company also manages a nationally recognized SBA lending franchise and a national equipment finance subsidiary, extending its reach to businesses across the country. United is an 11-time winner of J.D. Power’s award for highest customer satisfaction among consumer banks in the Southeast and was named the most trusted bank in the region in 2025. The company has also been recognized eight consecutive years by American Banker as one of the “Best Banks to Work For.” In commercial banking, United earned five 2025 Greenwich Best Brand awards, including national honors for middle market satisfaction. Forbes has consistently named United among the World’s Best and America’s Best Banks. Learn more at ucbi.com.

    For more information:
    Jefferson Harralson
    Chief Financial Officer
    (864) 240-6208
    Jefferson_Harralson@ucbi.com

    The MIL Network –

  • MIL-OSI: AleAnna, Inc. Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    First Quarter 2025 and Recent Company Highlights:

    • AleAnna reported basic and diluted net loss per common share of ($0.05) for the quarter ended March 31, 2025, compared with ($3.41) for the same period in 2024.
    • AleAnna ended the quarter with cash and cash equivalents of approximately $27.8 million

    DALLAS, May 15, 2025 (GLOBE NEWSWIRE) — AleAnna, Inc. (“AleAnna” or “the Company”) (NASDAQ: ANNA) today announced financial results for the first quarter of 2025. While revenue from Longanesi field production was not recognized during the quarter, in May 2025 AleAnna achieved first sales and the Company expects to report revenue from the Longanesi field as a part of second quarter results.

    For the first quarter 2025, AleAnna reported net loss of $2.0 million. This amounts to a basic and diluted net loss per common share of ($0.05), compared with ($3.41) net loss per common share recorded by the Company in the first quarter 2024.

    As of March 31, 2025, AleAnna had cash and cash equivalents of $27.8 million, providing the necessary liquidity to support development activities and pursue strategic opportunities.
       
    Management Commentary

    Marco Brun, Chief Executive Officer, remarked on AleAnna’s recent accomplishments: “We continue to execute on our business strategy and are encouraged by the initial performance at the Longanesi field. Although first quarter results did not include revenue from Longanesi, with the onset of sales in early May 2025 we expect to report revenue in our second quarter results. With a healthy balance sheet and growing operational momentum, we’re focused on delivering long-term value to our shareholders.”

    About AleAnna

    AleAnna is a technology-driven energy company focused on bringing sustainability and new supplies of low-carbon natural gas and RNG to Italy, aligning traditional energy operations with renewable solutions, with developments like the Longanesi field leading the way in supporting a responsible energy transition. With three conventional gas discoveries in Italy already made and with a potential of up to fourteen new natural gas exploration projects that could be initiated this decade, our goal is to play a pivotal role in Italy’s energy transition. Italy’s extensive infrastructure, featuring 33,000 kilometers of gas pipelines, three major gas storage facilities, and a strong base of existing RNG facilities, aligns with AleAnna’s commitment to sustainability. AleAnna’s RNG projects’ portfolio includes three plants under development and almost 100 potential projects that would represent up to a €1.1 billion potential investment in the next few years. AleAnna operates regional headquarters in Dallas, Texas, and Rome, Italy.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding AleAnna’s expectations and future financial performance, the Company’s strategy, future operations, financial position, prospective plans, goals, and objectives are forward-looking statements. When used herein, including any statements made in connection herewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “plan,” “potential,” “goal,” “focus,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are forward-looking statements. However, not all forward-looking statements contain such identifying words. Forward-looking statements are neither historical facts nor assurances or guarantees of future performance. Instead, they are based only on AleAnna’s current beliefs, expectations and assumptions regarding the future of its business, future plans and strategies, 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 AleAnna’s control. As a result, these factors could cause AleAnna’s actual results and financial condition to differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements, which speak only as of the date made. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, but are not limited to, those under “Risk Factors” in AleAnna’s Form 10-K filed with the SEC on March 31, 2025, as well as general economic conditions; AleAnna’s need for additional capital and ability to obtain any required capital; political, general economic, financial and legal conditions; changes in domestic and foreign markets; risks associated with the implementation of AleAnna’s business strategy and the ability to execute on AleAnna’s business strategy; timing of any business milestones; and changes in the regulatory environment in which AleAnna operates. Additional information concerning these and other factors that may impact AleAnna’s expectations and projections can be found in filings it makes with the SEC, and other documents filed or to be filed with the SEC by AleAnna. SEC filings are available on the SEC’s website at www.sec.gov. Except as otherwise required by applicable law, AleAnna disclaims any duty to update any forward-looking statements, all expressly qualified by the statements in this section, to reflect events or circumstances after the date hereof.

    Investor Relations Contact
    Bill Dirks
    wkdirks@aleannagroup.com

    Website
    https://www.aleannainc.com/

    Source: AleAnna, Inc.

    ALEANNA, INC.
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (unaudited)
    FOR THE THREE MONTHS ENDED MARCH 31, 2025 AND MARCH 31, 2024

      For the Three Months Ended March 31,  
      2025     2024  
               
    Revenues $ 644,600     $ –  
               
    Operating expenses:          
    Cost of revenues $ 838,395     $ –  
    General and administrative   3,324,845       2,018,524  
    Depreciation   73,106       –  
    Accretion of asset retirement obligation   33,505       33,311  
    Total operating expenses   4,269,850       2,051,835  
               
    Operating loss   (3,625,250 )     (2,051,835 )
               
    Other income:          
    Interest and other income   237,605       289,337  
    Change in fair value of derivative liability   –       173,177  
    Total other income   237,605       462,514  
               
    Loss before income taxes   (3,387,646 )     (1,589,321 )
    Income tax benefit   48,276       –  
    Net loss   (3,339,370 )     (1,589,321 )
    Deemed dividend to Class 1 Preferred Units redemption value   –       (112,673,176 )
    Net loss attributable to noncontrolling interests   1,333,231       –  
    Net loss attributable to Class A Common stockholders or holders of Common Member Units $ (2,006,139 )   $ (114,262,497 )
               
    Other comprehensive loss          
    Currency translation adjustment   1,139,303       113,872  
    Comprehensive loss   (2,200,067 )     (1,475,449 )
    Comprehensive loss attributable to noncontrolling interests   1,333,231       –  
    Total comprehensive loss attributable to Class A Common stockholders or holders of Common Member Units $ (866,836 )   $ (1,475,449 )
               
    Weighted average shares of Class A Common Stock outstanding, basic and diluted   40,564,475       33,467,205  
    Net loss per share of Class A Common Stock, basic and diluted $ (0.05 )   $ (3.41 )

    ALEANNA, INC.
    CONDENSED CONSOLIDATED BALANCE SHEETS
    AS OF MARCH 31, 2025 (unaudited) AND DECMBER 31, 2024

      March 31, 2025     December 31, 2024  
    ASSETS          
    Current Assets:          
    Cash and cash equivalents $ 27,810,160     $ 28,330,159  
    Accounts receivable   402,874       1,225,297  
    Prepaid expenses and other assets   987,414       1,666,155  
    Total Current Assets   29,200,448       31,221,611  
               
    Non-current assets:          
    Natural gas and other properties, successful efforts method   34,794,734       33,979,014  
    Renewable natural gas properties, net of accumulated depreciation of $209,009 and $132,094, respectively   9,592,268       9,296,039  
    Value-added tax refund receivable   6,578,604       6,845,030  
    Operating lease right-of-use assets   1,777,356       1,744,897  
    Deferred tax assets   48,276       –  
    Total Non-current Assets   52,791,238       51,864,980  
    Total Assets $ 81,991,686     $ 83,086,591  
               
    LIABILITIES AND STOCKOLDERS’ EQUITY          
    Current Liabilities:          
    Accounts payable and accrued expenses $ 1,980,897     $ 2,204,208  
    Lease liability, short-term   174,127       163,865  
    Total Current Liabilities   2,155,024       2,368,073  
               
    Non-current Liabilities:          
    Asset retirement obligation   4,409,230       4,375,919  
    Lease liability, long-term   1,601,573       1,579,443  
    Contingent consideration liability, long-term   25,980,832       24,994,315  
    Total Non-current Liabilities   31,991,635       30,949,677  
    Total Liabilities   34,146,659       33,317,750  
               
    Commitments and Contingencies (Note 6)          
               
    Stockholders’ Equity:          
    Class A Common Stock, par value $0.0001 per share, 150,000,000 shares authorized, 40,584,455 and 40,560,433 shares issued and outstanding as of March 31, 2025 and December 31, 2024   4,058       4,056  
    Class C Common Stock, par value $0.0001 per share, 70,000,000 shares authorized, 25,994,400 shares issued and outstanding as of March 31, 2025 and December 31, 2024   2,599       2,599  
    Additional paid-in capital   226,998,675       226,722,424  
    Accumulated other comprehensive loss   (5,109,054 )     (5,803,378 )
    Accumulated deficit   (193,054,092 )     (191,047,953 )
    Noncontrolling interest   19,002,841       19,891,093  
    Total Stockholders’ Equity   47,845,027       49,768,841  
    Total Liabilities and Stockholders’ Equity $ 81,991,686     $ 83,086,591  
               

    The MIL Network –

  • MIL-OSI USA: Graham Statement On NATO Informal Foreign Ministers Meeting

    US Senate News:

    Source: United States Senator for South Carolina Lindsey Graham
    WASHINGTON – U.S. Senator Lindsey Graham (R-South Carolina) today made this statement after joining Secretary of State Marco Rubio on the sidelines of the NATO Informal Foreign Ministers Meeting in Antalya, Turkey.
    “I was pleased to join Secretary of State Rubio and his team at the side events for an informal meeting of the NATO foreign ministers. Secretary Rubio and his team did a masterful job expressing President Trump’s foreign policy goals that seek to bring about unity with our NATO allies on several major fronts.
    “Turkey was an excellent host and is an invaluable ally that is helping to bring stability to the region, particularly with Syria.
    “These are my takeaways from the meeting.”
    On Syria:
    “President Trump’s groundbreaking meeting with President Ahmed al-Sharaa of Syria has created a tremendous opportunity to change the trajectory of Syria for the better.
    “President Trump has decided to waive sanctions on Syria, which could provide much-needed economic and humanitarian relief to a suffering population. I will be working closely with President Trump, Secretary Rubio and their teams to follow up on sanctions relief, and hopefully eventually rescinding Syria’s designation as a state sponsor of terrorism under U.S. law.
    “I am clear-eyed about the challenges that lie ahead. They include Israel’s legitimate security concerns, the integration of minority groups, like the Kurds, into a cohesive Syria, and a continued commitment to fight ISIS and other radical groups.
    “Today, I met with Syrian Foreign Minister Asaad al-Shaibani. I found his and President al-Sharaa’s statements encouraging.
    “A new Syria that rejects radicalism and is willing to live in the region as a peaceful, productive partner aligned with the United States would truly be a gamechanger. I sense that history is in the making in all the right ways, however time will tell.”
    On Russia:
    “President Trump has earnestly sought to end the horrific war between Russia and Ukraine, and I share that desire. However, to achieve that goal, you must have willing partners. Ukraine has agreed to a ceasefire. Ukraine’s President came to Turkey – as suggested by President Trump – to talk peace with Putin. Putin, on the other hand, has decided not to attend and instead sent a low-level delegation to continue the same old storyline. I consider this decision inconsistent with wanting peace and an affront to those trying to make peace.
    “I expect a very strong bipartisan statement of disappointment regarding Russia’s decision in Istanbul.
    “Putin’s Russia is playing games and this needs to stop. I have over 70 cosponsors for sanctions against Russia if they continue the course they are on. This legislation also puts tariffs on countries that buy Russian oil, gas and other products. When it comes to Russia’s games, enough is enough.”
    On China:
    “China is one of the biggest purchasers of Russian oil and gas. They are propping up Putin’s war machine.
    “President Trump wants to reset our relationship with China and I agree. However, the world needs to understand that without China buying cheap Russian oil, Putin’s war machine would come to a grinding halt. To all those who buy cheap Russian oil and gas, the days where you do so with impunity are quickly coming to an end.
    “It is now time for the U.S. Senate to move strongly because Putin is giving us no other choice.”

    MIL OSI USA News –

  • MIL-OSI Security: Thirty Gang Members and Associates Indicted on Racketeering, Murder, Drug Trafficking, Fraud, and Firearm Charges

    Source: United States Department of Justice Criminal Division

    An eight-count indictment was unsealed in the Southern District of Georgia charging 30 defendants – all alleged Sex Money Murder (SMM) gang members and associates – with crimes including racketeering (RICO) conspiracy, murder in aid of racketeering, conspiracy to commit murder in aid of racketeering, conspiracy to commit wire fraud, and related firearm and drug trafficking crimes.

    According to court documents and statements in court, SMM members and associates engaged in extreme violence to retaliate against fellow members for perceived violations of gang rules. For example, SMM members killed one member who wanted to leave the gang and attempted to kill another by repeatedly stabbing him for alleged homosexual activities while in jail. SMM members profited from trafficking large amounts of deadly drugs, including methamphetamine, cocaine, and heroin, throughout the Savannah metropolitan area. They also made money participating in sophisticated fraud schemes targeting federal COVID-19 relief and unemployment benefit programs that resulted in intended losses of over $850,000.

    “As alleged, the Sex Money Murder gang, a derivative of the nationally known Bloods gang, brutally enforced its purported rules, killing a 19-year-old member, and engaged in rampant drug trafficking and federal program fraud to enrich themselves,” said Matthew Galeotti, Head of the Justice Department’s Criminal Division. “We will not rest until every criminal organization like SMM that wreaks havoc on our streets and prison systems and exploits programs meant to support vulnerable populations are dismantled. Thank you to every federal, state, and local law enforcement agency that came together to dismantle this criminal enterprise.”

    “Today’s indictment is an important step in ending gang violence on our streets and in our prisons,” said Acting U.S. Attorney Tara M. Lyons for the Southern District of Georgia. “My office will continuously work with our law enforcement partners to ensure public safety.”

    “The violence and crime this gang committed across our region contributed to an epidemic in our nation.” said Special Agent in Charge Paul Brown of the FBI Atlanta Field Office. “Our hearts go out to the victims and their families who suffer because of this gangs’ activities. The FBI works with our law enforcement partners every day to crush violent crime in Georgia and our nation.”

    “This case demonstrates the relentless coordination and commitment among our law enforcement partners to dismantle violent criminal enterprises like Sex Money Murder,” said Assistant Special Agent in Charge Beau Kolodka of the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF). “ATF is proud to have played a critical role in targeting the illegal firearms and narcotics trafficking that fueled this gang’s deadly reach both inside and outside prison walls.” 

    “This indictment represents a significant step forward in our continued efforts to dismantle violent criminal enterprises operating within Georgia communities and correctional facilities,” said Director Chris Hosey of the Georgia Bureau of Investigation (GBI). “The GBI remains committed to working alongside our federal, state, and local partners to hold gang members accountable and protect the safety and wellbeing of all Georgians.”

    “The use of contraband cell phones as a tool to carry out gang activity and other crimes from behind prison walls will not be tolerated and we are proud of our Agents for their role in assisting our law enforcement partners in stopping these individuals from jeopardizing the safety of the public and the operations of our facilities,” said Commissioner Tyrone Oliver of the Georgia Department of Corrections. “This indictment is a great example of partnerships at every level, ensuring the job of public safety remains paramount.”

    According to court documents, on Feb. 24, 2020, Byron Hopkins and other SMM members intercepted a young victim a few hours after he stepped off his school bus. They drove him to a rural residential neighborhood where Hopkins shot him to death. The victim had reportedly expressed a desire to leave the gang after accusing Hopkins of having sexual relations with a minor female who became pregnant. To lure the victim, his, “big brother” in the gang – a person he trusted – sent him a text message claiming there was an important gang meeting he needed to attend. Believing this, the victim willingly got into the vehicle, unaware he was being taken to the site of his execution. This is just one example of SMM’s deadly violence against a member that questioned authority or violated gang rules.

    According to court documents and statements made in court, SMM is a subset of The Bloods gang, which originated in Los Angeles in the early 1970s. The SMM subset has spread from the Bronx and New York to areas across the East Coast, including Georgia, where it operates inside and outside prisons and jails. The indictment alleges an extensive criminal enterprise in which SMM members, including inmates within the Georgia Department of Corrections (GDOC), orchestrated numerous crimes, including murders, attempted murders, attempted robberies, drug trafficking within and outside of GDOC facilities, and wire and bank fraud. Seven of the defendants allegedly committed or ordered the charged crimes from prison.

    If convicted, the defendants face penalties including up to life in prison or death for the murder in aid of racketeering and using a firearm in the commission of a murder; up to life in prison for the racketeering conspiracy and drug conspiracy; up to 30 years for the wire fraud conspiracy; and up to 20 years for the conspiracy to commit murder in aid of racketeering.

    The Federal Bureau of Investigation, Bureau of Alcohol, Tobacco, Firearms and Explosives, U.S. Department of Labor, U.S. Army Criminal Investigation Division, Georgia Bureau of Investigation, and Georgia Department of Corrections are investigating the case, with valuable assistance from the U.S. Postal Inspection Service, Federal Bureau of Prisons, the Georgia Department of Community Supervision, the Georgia State Patrol, Hinesville Police Department, Liberty County Sheriff’s Office, Dodge County Sheriff’s Office, Chatham County Police Department, Chatham Couty Counternarcotics Team, Savannah Police Department, McRae-Helena Police Department, Police Department, DeKalb Police Department, Brunswick Police Department, and Richmond Hill Police Department.

    Trial Attorney Lisa M. Thelwell of the Criminal Division’s Violent Crime and Racketeering Section (VCRS) and Assistant U.S. Attorney Frank M. Pennington III for the Southern District of Georgia are prosecuting the case.

    The indictment is a result of Organized Crime Drug Enforcement Task Forces (OCDETF) investigations. The OCDETF mission is to identify, disrupt, and dismantle the highest-level criminal organizations that threaten the United States, using a prosecutor-led, intelligence-driven, multi-agency task force approach. OCDETF synchronizes and incentivizes prosecutors and agents to lead smart, creative investigations targeting the command-and-control networks of organized criminal groups and the illicit financiers that support them. Additional information about the OCDETF Program may be found at www.justice.gov/OCDETF.

    An indictment is merely an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

    MIL Security OSI –

  • MIL-OSI NGOs: Russia: Book publishers arrested in anti-LGBTI campaign

    Source: Amnesty International –

    Reacting to the Russian security forces’ detention of at least 10 book publishing professionals in Moscow on “extremism”-related charges over alleged “LGBTI propaganda” in books published by affiliated printing houses, Natalia Zviagina, Amnesty International’s Russia Director, said:

    “In their ruthless campaign against LGBTI people, Russian authorities have now come after book publishers, accusing them of ‘extremism’ for merely doing their job: bringing books to readers. This shameless heavy-handed use of state apparatus against literature is as absurd as it is terrifying.”

    In their ruthless campaign against LGBTI people, Russian authorities have now come after book publishers, accusing them of ‘extremism’ for merely doing their job: bringing books to readers

    Natalia Zviagina, Amnesty International’s Russia Director

    “One thing is clear: no amount of bans, arrests or prosecutions will erase the existence of LGBTI people in Russia, or anywhere else. History has shown that attempts to supress identity and censor knowledge are ultimately futile. Love and knowledge will always endure over hatred and repression.

    “The detained publishing professionals must be immediately released, the criminal charges against them dropped and the ongoing persecution of LGBTI people, organisations and initiatives in Russia must be brought to an end.”

    Background

    On 14 May, Russian security forces detained at least 10 individuals in Moscow as part of a criminal investigation into alleged “involvement in the activities of an extremist organization,” “participation in the activities” of such an organization, and “organizing its work using official position” (Article 282.2(1.1), (2), (3) of the Criminal Code) for publishing LGBTI-themed books. At least 10 individuals were taken in for questioning, including Anatoly Norovyatkin, distribution director at EKSMO, as well as Popcorn Books co-founder Dmitry Protopopov and former sales director Pavel Ivanov. On 15 May, three people were formally charged, their names are not yet disclosed. If convicted under these charges, they could face prison sentences of up to 12 years.

    According to the lawyer, the case is based on the alleged distribution of over 900 copies of ten LGBTI-themed titles, none of which have been officially banned or labelled “extremist.” Among the books named in the case is The Summer in a Pioneer Tie (translated in English as Pioneer Summer), a bestselling novel by Elena Malisova and Katerina Silvanova depicting a same-sex romance between two Soviet teenagers. The authors were arbitrarily designated “foreign agents” by the Ministry of Justice in February 2024. Other titles include Alice Oseman’s Heartstopper, Benjamin Alire Sáenz’s Aristotle and Dante Discover the Secrets of the Universe, and Becky Albertalli’s Leah on the Offbeat and Love, Creekwood – all published by Popcorn Books between 2019 and 2022.

    The arrests take place against the backdrop of an accelerating crackdown on LGBTI rights following a November 2023 decision by Russia’s Supreme Court to ban the so-called “International LGBT Movement” as “extremist,” enabling the persecution of anyone associated with LGBTI identities or advocacy under anti-extremism legislation. Since the ban came into force in January 2024, Russian authorities have launched at least 12 criminal cases, conducted raids on LGBTI venues, issued administrative fines and short-term detentions for displaying rainbow-themed symbols and forced the closure of LGBTI advocacy groups.

    MIL OSI NGO –

  • MIL-OSI NGOs: Northern Ireland: Executive’s racial equality strategy fails amid rising racist attacks in a ‘year of hate’

    Source: Amnesty International –

    New PSNI report shows 1,807 racist incidents 1,188 crimes in the year to end of March 2025 – the highest levels recorded since records began in 2004/05

    Level of race hate incidents hit new high during summer 2024

    ‘These police figures should be a wake-up call to the Executive. Its racial equality strategy has failed. Promises made years ago remain broken. Meanwhile racism has grown’ – Patrick Corrigan 

    The last 12 months were a ‘year of hate’ according to Amnesty International following new figures published today (15 May) showing racist attacks hit an all-time high over the last year. 

    The figures were published today in a report by the Police Service of Northern Ireland (PSNI) and the Northern Ireland Statistics and Research Agency (NISRA), which tracked recorded hate crimes and incidents for the 12 months to the end of March 2025. 

    The report reveals that there 1,807 incidents 1,188 crimes recorded by the police in the year to date. There were 454 more race incidents and 349 more race hate crimes recorded in the last 12 months than in the previous corresponding period.  

    Six of the eight highest monthly levels of race incidents since records began in 2004 were recorded between May and October 2024. 

    More than half (635) of recorded race hate crimes in the period were in Belfast.   

    Patrick Corrigan, Amnesty International’s Northern Ireland Director, said: 

    “The past year has been a year of hate for victims of racism in Northern Ireland. These figures should serve as a stark wake-up call for the Northern Ireland Executive. 

    “The Executive’s ten-year racial equality strategy has failed. Promises made years ago remain broken, while racism has been allowed to flourish. Last year, race hate crime hit an all-time high – a shameful milestone. 

    “As the current Racial Equality Strategy nears its expiration at the end of this year, the Executive must deliver more than rhetoric. It must implement a bold, effective action plan to confront and dismantle the toxic prejudice that has taken root across Northern Ireland.” 

    An independent review of the Northern Ireland Executive’s Racial Equality Strategy 2015 – 2025, commissioned by the Executive and published in December 2024, found the strategy has been undermined by the lack of an action plan and budget. 

    View latest press releases

    MIL OSI NGO –

  • MIL-OSI USA: ‘Doctors Academy’ Graduates Win College Scholarships

    Source: US State of Connecticut

    Nineteen Senior Doctor Academy graduates in the Class of 2025 on May 14 received their honorary white coats and diplomas from the Health Career Opportunity Programs (HCOP) at UConn Health.

    The event’s keynote speaker was City of Hartford’s Ebony Jackson-Shaheed, MPH, director of Health & Human Services (Photo by John Atashian).

    At this year’s Academic Year Closing and Annual Recognition Ceremony the keynote speaker was City of Hartford’s Ebony Jackson-Shaheed, MPH, director of Health & Human Services.

    Also, the Hartford Foundation for Public Giving generously presented a grant of $15,000 in support of the HCOP programs.

    The Doctors Academy is part of the highly successful Health Career Opportunity Programs (HCOP) founded over two decades ago by physician-scientist Dr. Marja Hurley, where middle school and high school students of all backgrounds receive in-depth education in the health sciences and career path mentorship on Saturdays and in the summer. The Doctors Academy is one of 14 Health Career Opportunity Programs that are part of the Aetna Health Professions Partnership Initiative (HPPI).

    Senior Doctors Academy graduates accepted their diplomas from keynote speaker the City of Hartford’s Ebony Jackson-Shaheed, MPH and Dr. Marja Hurley (Photo by John Atashian).

    Meet the Doctors Academy Graduates

    “I am looking forward to pursuing a career in genetics and surgery,” says Class of 2025 Doctors Academy graduate Javel Stewart, 18, of Hartford who has been part of HCOP since the 8th grade.

    “The idea of being able to help people fight illness and disease inspired me to enter medicine. I became interested in HCOP’s great explorations program after a school guidance counselor recommended it to me as she knew I was interested in medicine,” recalls Stewart.

    Javel Stewart is headed to UConn this fall. She graduated from the Senior Doctors Academy of HCOP on May 14.

    “My favorite part of HCOP was being able to meet and connect with like-minded peers.”

    After graduating from Classical Magnet School this spring, Stewart looks forward to attending UConn.

    “I am very excited to go to UConn this fall, and I’m looking forward to all the new knowledge I will gain,” Stewart exclaims.

    (Photo by John Atashian).

    Stewart is the winner of a large Hartford Promise Scholarship, also the newly established UConn Freedman Award established by UConn Health Board of Director Joel Freedman, and the Friends of the Department of Health Career Opportunity Programs – Boake L. Plessy, Ph.D., Scholarship.

    “I am very excited to have received scholarships to UConn in addition to the Hartford Promise Scholarship,” she happily shares.

    (Photo by John Atashian).

    And Stewart’s words of wisdom for other young people wishing to follow in her footsteps to also pursue future careers in medicine: “Some advice to the CT youth is to never give up. You might not see the results right away, but trust the process. Keep asking questions, keep showing up for yourself, and don’t be afraid to aim high.”

    “One of the most meaningful communities I’m a part of is the Health Careers Opportunity Program (HCOP),” heartwarmingly shared Class of 2025 Doctors Academy graduate Jeneika Lugg, 18, of Hartford who is originally from Jamaica.

    Jeneika Lugg is UConn Hartford bound. She graduated from HCOP’s Senior Doctors Academy on May 14, 2025.

    Now a senior at Achievement First Hartford Academy, she joined the Doctors Academy back in the 9th grade. “This community is especially meaningful to me because it feels like a family. It is a welcoming environment where no one feels excluded, and everyone is respected for who they are.”

    Lugg will be attending UConn Hartford in the fall. She is enrolled in the special Verto Huskies Pathway, a program that provides high achieving students the opportunity to study abroad with Verto Education, and then seamlessly transfer to UConn for the remainder of their college experience.

    “This fall I’m very excited to go to UConn and I’m happy to be given the opportunity to go study abroad for my first semester in Spain through Verto Education. This is very exciting for me since I’m being introduced to a new culture, language, food, and people,” says Lugg.

    HCOP program graduates of the Senior Doctors Academy (Photo by John Atashian).

    At UConn, Lugg hopes to study biological sciences or areas of neuroscience, and also explore her longtime interest in art.

    Lugg is also an excited recipient of the large Hartford Promise Scholarship, as well as a Jacob L. and Lewis Fox Scholarship.

    “I was awarded the Hartford Promise Scholarship and Fox Scholarship. I was excited for this because it allowed a better affordability for school,” says very thankful Lugg.

    Lugg also applauds the HCOP program for her great educational experience.

    Senior Doctors Academy graduates (Photo by John Atashian).

    “When I first heard about HCOP, I was eager to join, especially with my interest in the medical field. The program has not only expanded my academic knowledge but also provided a deeper understanding of medicine in the real world. It has equipped me with valuable skills in public speaking, research, and medical practices, while offering opportunities to learn from doctors and their personal journeys,” says Lugg.

    She added, “What I love most about this program is how it consistently encourages us to pursue our dreams. The staff fosters an open-minded approach, urging us to reach for the stars and beyond. They are like a supportive family, cheering for our growth and success, always wanting the best for us. The students, too, contribute to this sense of community, as we all share similar goals and support one another, making it feel more like a team than a competition.”

    Lugg’s advice to other Connecticut youth like her: “Keep striving, keep pushing and know that no dream is too big to not reach. It might seem a lot or impossible but in the end you will be amazed by the great results and accomplishments.”

    Class of 2025 Graduates of the Senior Doctors Academy celebrating at HCOP’s annual Closing Ceremony (Photo by John Atashian).

    Like Stewart and Lugg all the successful Senior Doctors Academy graduates in the Class of 2025 are following in the footsteps of hundreds and hundreds of successful HCOP graduates.

    Dr. Marja Hurley and her very dedicated HCOP team are very proud of all the graduating students and share a special thank you to the parents who get the students up on Saturdays to get to the program.

    “I am so proud of this year’s graduating class, and thankful for all the support of their parents. We also are especially grateful of the Hartford Foundation, the City of Hartford, and for all the generous scholarships bestowed on our amazing students this year,” says Hurley. “Congratulations to all our talented students.”

    Dr. Marja Hurley sharing her congratulations with the students and parents attending HCOP’s annual Closing Ceremony on May 14, 2025 (Photo by John Atashian).

    UConn School of Medicine Dean Dr. Bruce T. Liang shared during the event, “A special thanks to the amazing leadership of Dr. Marja Hurley, along with her talented HCOP team, for making the Doctors Academy and all the successful HCOP Programs of the Aetna Health Professions Partnership Initiative possible. Your hard work is keeping these programs thriving to new heights and always inspiring the next generation of youth and future doctors.”

    (Photo by John Atashian).

    Liang added, “I wanted to share a heartwarming congratulations with all our graduates, and with your supportive families. We are all so proud of your inspiring academic success, and tireless commitment and determination that you have demonstrated. Whether you are dreaming of becoming a future physician, dentist, or scientist — you are well on your way! And UConn is so grateful to be part of your journey! Make sure to come back and join our health care workforce.”

    Congratulations to the Class of 2025 graduates of the Great Explorations, Jumpstart, and Junior and Senior Doctors Academy!

    (Photo by John Atashian).

    Other scholarship recipients this year of the John & Valerie Rowe Scholarship are Senior Doctors Academy graduates Valeria Buzzigoli and Anousha Hashim.

    Also, Friends of the Department of Health Career Opportunity Programs – Boake L. Plessy, Ph.D., Scholarship recipients include Maham Chaudhary, Alec-Raive Gordon, and Javel Stewart.

    The Class of 2025 Senior Doctors Academy graduated 19 Connecticut high school students at its Closing Ceremony on the evening of May 14, 2025. Graduates are pictured here with keynote speaker Ebony Jackson-Shaheed, MPH and Dr. Marja Hurley (Photo by John Atashian).

    The Class of 2025 Senior Doctors Academy graduates include:

    Sunita Amiri

    Safia Ali

    Gabrielle Bridgewater

    Valeria Buzzigoli

    Maham Chaudhary

    Sabra Dewar

    Alec Gordon

    Anousha Hashim

    Meera Kannan

    Jeneika Lugg

    Elissa Matthews

    Tyler McGraw

    Marko Paxi

    Xavier Rosario

    Genesis Rowe

    Genessis Sanclemente

    Javel Stewart

    Sama Thapa

    Kaelyn Williams

     

    MIL OSI USA News –

  • MIL-OSI USA: Disaster Response: Master and Apprentice

    Source: US State of Connecticut

    Two UConn Health emergency medicine physicians are back from a medical mission in central Myanmar, which was devastated by a magnitude 7.7 earthquake March 28.

    Drs. Rob Fuller and Caroline Lloyd are back at UConn Health after being part of the International Medical Corps response to an earthquake that devastated Myanmar March 2025. (Photo by Chris DeFrancesco)

    The earthquake and aftershocks are blamed for more than 3,700 dead and 5,000 injured, compounding the humanitarian crisis in a country already dealing with political unrest and an overwhelmed health care system.

    “Suffice it to say that the external reporting is a 10x underestimate of the actual impact and fatalities,” Dr. Rob Fuller reported from the capital, Nay Pyi Taw, more than 150 miles from the epicenter. “There is much political difficulty in entering and moving here.”

    Fuller, who is UConn Health’s chair of emergency medicine, and Dr. Caroline Lloyd, in her second year in UConn’s International Disaster Emergency Medicine Fellowship, were part of an International Medical Corps response team. The IMC’s response got off to a slow start, largely due to a reluctance by the Myanmar government to embrace assistance from foreign organizations.

    “There had been a smaller team from IMC trying for several weeks to open the door to allow us to come in and form those relationships, and assure the government we weren’t going to do anything they didn’t want us do to,” Lloyd says.

    Myanmar is located in Southeast Asia’s Indochinese Peninsula.

    “[IMC] flew into Bangkok right after the earthquake, and it took days to get permission to enter the country,” Fuller says. “Then after they got into the country, they tried to get the ear of the minister of health to say, ‘We’re an aid-providing organization and we’d like to collaborate with your responders,’ and it took a long time to get those OKs. And then the minister of security and the minister of foreign affairs had to approve. By the time all those barriers were out of the way, we were one of only two foreign non-government organizations allowed in to provide some health care.”

    Lloyd and Fuller didn’t arrive until April 19, and by then the mission was to run a tent clinic in place of a key piece of health care infrastructure in Nay Pyi Taw that was lost to the quake.

    “We were working at the site of a destroyed 300-bed hospital,” Fuller says. “We were seeing about 100 patients per day. The patients were seeking care for acute and chronic conditions as well as injuries related to the earthquake.”

    Dr. Rob Fuller, UConn Health’s chair of emergency medicine, helps staff a tent clinic that replaced an earthquake-damaged hospital in Nay Pyi Taw, Myanmar. (International Medical Corps photo)

    “It was primarily handling outpatient care that they normally would have handled, with a smattering of patients sometimes popping in due to displacement or injuries that happened during the earthquake,” Lloyd says. “Every once in a while you’d get someone displaced by the additional conflict going on within the country, who had recently gotten out of that area and into this more-controlled governmental area. But overall, it was primarily outpatient. Lots of aches and pains.”

    Lloyd served as a medical lead, overseeing clinic design, patient flow, and quality of care. Fuller says she was looking inward, to manage the clinic, while his role, as medical coordinator, was outward-looking, toward the community and other responding agencies.

    “I didn’t have to do a lot of it, because there weren’t a lot of agencies to coordinate with, it was so controlled and closed,” Fuller says. “So I just did what Caroline told me, and saw patients under her guidance.”

    Lloyd was there for a week, Fuller for two. They say the temperature was mostly in the triple digits.

    Fuller was part of a team from UConn Health that responded to Ground Zero on Sept. 11, 2001. Since then, he has been part of IMC responses to disasters all over the world, including a tsunami in Indonesia, an earthquake in Haiti, a hurricane in St. Lucia and a typhoon in the Philippines.

    This was Lloyd’s first overseas disaster response.

    “I was in charge of staffing, the flow of how our tents worked, troubleshooting and changing things,” she says. “If we were in an enclosed area, we can’t have people who are coughing or have an infectious disease, how do we change our flow? They’re putting them in a different area, but then no one’s telling us that’s happening, so let’s have a discussion and fix that. Kind of the logistics of how it worked.”

    Dr. Caroline Lloyd (left) and Dr. Rob Fuller (center) from UConn Health are among the American physicians who were part of the International Medical Corps response to the Spring 2025 earthquake in Myanmar. (International Medical Corps photo)

    Lloyd says a physician who had done work with the IMC in Gaza told her this response was more complicated because of the controlling nature of Myanmar’s government.

    “It’s one of those experiences where, now that you’re kind of removed and you can look back on it, you’re like, ‘If this is how this worked in probably one of the most difficult situations I think you could imagine, man, what’s it going to be like to do it in an atmosphere where someone actually legitimately wants you there?’ IMC has pallets and pallets of things that they have ready to come in; we couldn’t get any of those,” Lloyd says. “The government just didn’t let them in.”

    The experience comes as Lloyd nears completion of her disaster emergency medicine fellowship and her Master of Public Health studies. But she won’t be gone from UConn Health for long; in August she’s returning as a faculty physician.

    “This was an opportunity for Caroline to be able to go into a disaster,” Fuller says. “Every disaster’s got its own problems and its own flavors. This is just one, but this very controlled political environment was probably the weirdest part about this one. We were controlled where we can go, and what we can do, and how we operate was very managed by the political entities that we were working with. But even so, we set up tents in what was a field, we used car-park areas with tarps around them to deliver care for a couple days.  Caroline was in charge of the campus, so she designed how the patients moved from place to place and how we cared for them and where things were. So it was a great experience for her.”

    MIL OSI USA News –

  • MIL-OSI Video: ‘One Europe for 600 Million Citizens’ Commission President von der Leyen at the EPC Summit, Albania

    Source: European Commission (video statements)

    On 16 May 2025, Commission President Ursula von der Leyen delivers a speech at the European Political Community (EPC) Meeting in Tirana, Albania.

    ‘New Europe in a new world: unity – cooperation – joint action’ is the key theme of the event. Leaders will first meet in a plenary session dedicated to security and a shared vision for the future of Europe.

    Three high-level roundtables will then take place around the following topics:
    – Europe’s security and democratic resilience, including Russia’s war of aggression against Ukraine
    – competitiveness and economic security
    – mobility challenges and youth empowerment

    Follow live events and access media content here:
    https://audiovisual.ec.europa.eu/en/

    Stay updated — follow us on X: https://x.com/EC_AVService

    Watch on the Audiovisual Portal of the European Commission:
    https://audiovisual.ec.europa.eu/en/

    Follow us on:
    -X: https://twitter.com/EU_Commission
    -Instagram: https://www.instagram.com/europeancommission/
    -Facebook: https://www.facebook.com/EuropeanCommission
    -LinkedIn: https://www.linkedin.com/company/european-commission/
    -Medium: https://medium.com/@EuropeanCommission

    Check our website: http://ec.europa.eu/

    https://www.youtube.com/watch?v=AyBdHnb7b1Y

    MIL OSI Video –

  • MIL-OSI Russia: Another Nanjing Massacre Survivor Dies in China, Leaving Only 26 Survivors of the Tragedy

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    NANJING, May 15 (Xinhua) — Nanjing Massacre survivor Xie Guiying, born in September 1924, passed away on Thursday at the age of 100, bringing the total number of registered survivors of the tragedy to 26, according to the Nanjing Massacre Memorial Museum in east China’s Jiangsu Province.

    The Nanjing Massacre occurred after the Japanese occupation forces captured the city of Nanjing, then the capital of China, on December 13, 1937. Over a period of six weeks, the invaders killed about 300,000 Chinese civilians and unarmed soldiers. The tragedy is considered one of the most barbaric episodes of World War II.

    In 1937, before Japanese troops entered Nanjing, where Xie Guiying’s family lived, her mother took her and her siblings and fled the city, leaving her father to guard their home. After Japanese troops entered Nanjing, they killed Xie Guiying’s father.

    After these events, the girl’s mother was left to take care of the children alone. Xie Guiying almost died three times. There is a clearly visible scar on her forehead from hitting her head on a rock, which appeared when Japanese soldiers dragged her along the ground.

    During her lifetime, Xie Guiying often attended events held at the Nanjing Massacre Memorial Museum, hoping that the public would always remember this historical disaster.

    “Our country is now becoming stronger and our life is better, and we owe this to the Chinese Communist Party,” she said.

    Six Nanjing Massacre survivors, including Xie Guiying, have died since the beginning of this year, and the number of people who can share personal memories of the Nanjing Massacre is dwindling.

    In 2014, the National People’s Congress of China declared December 13 as National Remembrance Day for the Victims of the Nanjing Massacre.

    The testimonies of Nanjing Massacre survivors, preserved by the Chinese government, are recorded in both written and video form. In 2015, these documents were added to the UNESCO Memory of the World Register. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: In Belarus, real disposable cash income of citizens has increased by 12 percent in three months since the beginning of 2025 — Belstat

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    MINSK, May 15 (Xinhua) — In Belarus, real disposable income of citizens in January-March 2025 increased by 12 percent compared to the same period last year. The relevant information was published on Thursday by the Belarusian National Statistical Committee (Belstat).

    In the total volume of monetary income, wages accounted for 64.7 percent, transfers to the population (pensions, benefits, scholarships, etc.) – 22.4 percent, income from entrepreneurial and other income-generating activities – 7.6 percent, income from property and other income – 5.3 percent.

    Data on real disposable income are presented net of taxes, fees and contributions, and adjusted for the consumer price index for goods and services. –0–

    MIL OSI Russia News –

  • MIL-OSI Video: Libya, Gaza, & other topics – Daily Press Briefing | United Nations

    Source: United Nations (Video News)

    Noon briefing by Farhan Haq, Deputy Spokesperson for the Secretary-General.

    Highlights:
    – Secretary-General/Travels
    – Libya
    – Occupied Palestinian Territory
    – Security Council
    – Democratic Republic of the Congo
    – Democratic Republic of the Congo/Humanitarian
    – Sudan
    – Haiti
    – Syria
    – International Day of Families
    – Briefings
    – Financial Contribution

    SECRETARY-GENERAL/TRAVELS
    The Secretary-General left Germany in the morning and is now on his way to Iraq. Earlier today, in Berlin, he met with Frank-Walter Steinmeier, the Federal President of the Federal Republic of Germany. They discussed topics that included the situation in the Middle East and the partnership between the UN and Germany. 
    Yesterday, he met the German Chancellor, Friedrich Merz, and he told reporters later that they had discussed, among other topics, the situations in Gaza and Ukraine.
    While in Iraq, Mr. Guterres will attend the Arab League Summit. He will address the Summit on Saturday. He is also scheduled to hold a number of meetings with leaders and officials attending the summit, including leaders of the host country. He is also going to meet with our UN team in Iraq.

    LIBYA
    The Secretary-General takes note of the truce reached in Tripoli yesterday and calls on all parties to take urgent steps to sustain and build upon it through dialogue.
    The rapid nature of the escalation, which drew armed groups from outside the city and subjected heavily populated neighborhoods to heavy artillery fire, was alarming. The Secretary-General is deeply saddened to hear of the deaths of at least eight civilians in the recent clashes.
    The Secretary-General reminds all parties of their obligation to protect civilians and calls on them to engage in serious dialogue in good faith to address the root causes of the conflict.
    The United Nations stands ready to provide its good offices to facilitate agreement on a path towards lasting peace and stability in Libya.

    Full Highlights: https://www.un.org/sg/en/content/noon-briefing-highlight

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

    MIL OSI Video –

  • MIL-OSI Video: ICC on Prosecutor’s report on Libya – Media Stakeout | United Nations

    Source: United Nations (Video News)

    Informal comments to the media by ICC Caucus on behalf of the members of the Security Council that are state parties to the Rome Statute of the International Criminal Court: France, Greece, Guyana, Panama, the Republic of Korea, Slovenia, the United Kingdom, Denmark and Sierra Leone, on the 29th report of the ICC Prosecutor’s Office to the Security Council on the situation in Libya.

    https://www.youtube.com/watch?v=ZEjPM2UVjOU

    MIL OSI Video –

  • MIL-OSI Video: Peacekeeping: Can mean difference between life and death – UN Chief | United Nations

    Source: United Nations (Video News)

    “Blue helmets can mean the difference between life and death,” UN Secretary-General António Guterres urged renewed global commitment to peacekeeping during the opening of the UN Peacekeeping Ministerial in Berlin, warning that operations are facing unprecedented financial and political pressure.

    “My thanks to Germany for bringing us together at this consequential moment,” Guterres said. “This year marks the 80th anniversary of the United Nations organization was founded on the conviction that peace is possible if we work as one United’s human family. That is what our peace operations are about.”

    Highlighting the symbolic and operational importance of the United Nations peacekeeping forces, the Secretary-General stated, “The UN Blue Helmets are the most globally recognized symbol of the world’s ability to come together to help countries move from conflict to peace.”

    Guterres pointed to several countries that transitioned from war to stability with the help of UN missions. “There is a long list of countries that have achieved durable peace with the support of UN peacekeeping, including Cambodia, Cote d’Ivoire, El Salvador, Liberia, Namibia, Mozambique, Sierra Leone and Timor-Leste. Many of these countries now themselves contribute troops,” he said.

    However, he also emphasized the human cost of these missions. “Through the decades, 4400 peacekeepers have fallen in the line of duty. Their service and sacrifice will never be forgotten,” he said, inviting participants to join him in a moment of silence.

    As part of a broader reform process initiated by Member States, Guterres referenced the “Pact for the Future,” which calls for a comprehensive review of peace operations. “The review will examine how we can make peacekeeping operations more adaptable, flexible and resilient while recognizing the limitations in situations where there is little or no peace to keep,” he said.

    He acknowledged the difficulties of operating in increasingly polarized geopolitical contexts. “We see increasing differences of views around our peacekeeping operations work, and then what circumstances with what mandates they should be deploys. And for how long,” he noted.

    Guterres also addressed the challenge of shrinking financial resources. “Peace operations can only succeed when backed by robust mandates and clear, predictable and sustained contributions, both financial and logistical,” he stated. “It is crucial that we are able to use the increasingly limited resources we have and use them well.”

    Concluding his address, the Secretary-General called for continued Member State engagement. “Supported at every step by Member States, we look forward to your government’s support and ideas as we tackle these challenges together,” he said.

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

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  • MIL-OSI Europe: Answer to a written question – Mandatory targets for corporate fleets – E-001328/2025(ASW)

    Source: European Parliament

    The Commission is determined to make road transport across the EU more sustainable and resilient, while boosting the competitiveness of our industry and operators. In March 2025, the Commission published the Automotive Action Plan[1] and the communication on Decarbonising Corporate Fleets[2]. In addition, in the mission letter from the President of the Commission, the Commissioner for Sustainable Transport and Tourism has been called upon to prepare a legislative proposal for clean corporate fleets.

    Based on these commitments, the Commission is preparing a legislative proposal and will explore options and measures in an impact assessment on how to support the uptake of zero-emission vehicles by corporate buyers, without putting unnecessary burden on small and medium-sized enterprises (SMEs) and considering criteria on sustainability and resilience. Requirements on companies are only one of the options that will be explored, and all options will scrutinise costs and administrative burden for all parts of the value chain.

    The Commission held an open public consultation in 2024, where more than 250 stakeholders, ranging from businesses and their associations to Member States and non-governmental organisations, put forward their positions on all aspects of corporate fleets. Additionally, the Commission will perform an additional open public consultation focused on options for the legislative proposal. The Commissioner for Sustainable Transport and Tourism will hold a Strategic Dialogue specifically on corporate fleets in the course of 2025.

    • [1] https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex:52025DC0095
    • [2] https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex:52025DC0096
    Last updated: 15 May 2025

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  • MIL-OSI Europe: Answer to a written question – Progress on updating the guidance document on comparative assessment of pesticides in accordance with Article 50 of Regulation 1107/2009 – E-003064/2024(ASW)

    Source: European Parliament

    The Commission is considering together with Member States amendments to Annex IV of Regulation (EC) No 1107/2009[1] ‘Plant Protection Products (PPP) Regulation’ and the relevant Guidance document[2], aiming to improve efficiency for conducting comparative assessments while respecting the legal provisions of Article 50(1) of the PPP Regulation. Work is still ongoing. Stakeholders will also be consulted in due time.

    The Commission would like to recall that in its decision of 22 August 2024[3], the European Ombudsman found that there was no maladministration by the Commission in relying on the relevant standard developed by the European and Mediterranean Plant Protection Organisation (EPPO). Whether or not that standard remains suitable for use in the EU or needs to be revised will depend on the outcome of the above-mentioned work on potential amendments to Annex IV and the related guidance.

    The Commission would like to recall that EPPO is an independent intergovernmental organisation which governs its policy regarding conflicts of interest. The Commission informed EPPO of the Ombudsman’s recommendations in that regard.

    • [1] Regulation (EC) No 1107/2009 of the European Parliament and of the Council of 21 October 2009 concerning the placing of plant protection products on the market and repealing Council Directives 79/117/EEC and 91/414/EEC (OJ L 309, 24.11.2009, p. 1).
    • [2] The guidance document on comparative assessment and substitution of Plant Protection Products in accordance with Regulation (EC) No 1107/2009 (SANCO/11507/2013 rev. 12), available at: https://food.ec.europa.eu/document/download/be440357-ae1f-4e57-8ca7-3690f50c08cf_en?filename=pesticides_aas_guidance_comparative_assessment_substitution_rev_1107-2009.pdf
    • [3] Decision on how the European Commission adopted a guidance document on comparative assessment in the context of the substitution of hazardous substances in pesticides (case 177/2023/VB), https://www.ombudsman.europa.eu/en/decision/en/191432
    Last updated: 15 May 2025

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  • MIL-OSI Europe: Answer to a written question – Infringement procedure against Italy – honorary judges’ working conditions – E-001154/2025(ASW)

    Source: European Parliament

    The Commission is pursuing infringement procedure INFR(2016)4081[1] to ensure compliance of Italian legislation regarding honorary judges with the requirements of EU labour law and effective access to justice.

    As different national provisions apply to honorary judges who were already in service on 15 August 2017[2] and to those recruited after that date, separate assessments are required in the framework of INFR(2016)4081. Honorary judges belonging to the first group can be confirmed permanently in their positions and obtain worker status. On 15 April 2025, the Italian legislator adopted a reform amending their working conditions[3]. Reform plans are less advanced regarding honorary judges recruited after 15 August 2017.

    The Commission also draws the Honourable Member’s attention to the fact that a preliminary reference on the capacity of confirmed honorary judges to effectively exercise their rights under EU law is currently pending before the Court of Justice of the European Union[4].

    The Commission will analyse the recent reform and closely monitor the case law to assess whether further procedural steps are required to ensure conformity with EU law.

    • [1] Information on Commission decisions pertaining to this infringement procedure are available in the public register online: https://ec.europa.eu/atwork/applying-eu-law/infringements-proceedings/infringement_decisions/?langCode=EN&version=v1&typeOfSearch=byDecision&refId=INFR(2016)4081&page=1&size=10&order=desc&sortColumns=decisionDate .
    • [2] The date of entry into force of Legislative Decree No 116/2017 of 13 July 2017 — ‘Organic reform of the honorary judiciary and other provisions on Justices of the Peace, as well as transitional arrangements for Honorary Magistrates in service, in accordance with Law No 57 of 28 April 2016’.
    • [3] See Law n. 51 of 15 April 2025, GU Serie Generale n. 89 of 16-04-2025: https://www.gazzettaufficiale.it/eli/id/2025/04/16/25G00064/SG.
    • [4] Case C-253/24, Pelavi.
    Last updated: 15 May 2025

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  • MIL-OSI Europe: Answer to a written question – Legal options for a Member State to withdraw from the European electricity market – E-001057/2025(ASW)

    Source: European Parliament

    In line with the article 194 of the European Treaty on the Functioning of the European Union, Union policy ensure the functioning of the energy market.

    On this basis, the Electricity Regulation[1] and Directive[2] lay down the principles for the European electricity market. The Internal Energy Market and the integration of European electricity markets already benefit consumers by around EUR 34 billion every year[3]. It enables Member States to rely on neighbouring Member States to meet demand and ensure security of supply. The design of short-term markets through market coupling also ensures that the cheapest and cleanest technologies are used first, that interconnections are used in the most optimal way, and that all Member States can rely on imports in times of scarcity. The internal energy market is a protection against country-specific shocks, as the recent crisis has demonstrated.

    Withdrawal of a Member State from only the European electricity market would be incompatible with current internal market rules and the EU treaties.

    The EU agreed on a reform[4] of the European electricity market design to stabilise the prices of electricity supply, lower the impact of gas prices and ensure the reaping of the benefits from decarbonised electricity. As part of the Clean Industrial Deal, the Commission adopted an Action Plan for affordable Energy[5], which outlines the importance of further unlocking the value of our Energy Union by taking steps towards a fully integrated energy market supported by an interconnected and digitalised network. Further integration of the European internal energy market could increase the benefits to up to EUR 40-43 billion per year by 2030.

    • [1] https://eur-lex.europa.eu/eli/reg/2019/943/oj/eng.
    • [2] https://eur-lex.europa.eu/eli/dir/2019/944/oj/eng.
    • [3] ACER’s final assessment of the EU wholesale electricity market design, April 2022 ( https://www.acer.europa.eu/sites/default/files/documents/Publications/Final_Assessment_EU_Wholesale_Electricity_Market_Design.pdf ).
    • [4] https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L_202401747 and https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L_202401711.
    • [5] Action Plan for Affordable Energy, COM(2025)0079 final.
    Last updated: 15 May 2025

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  • MIL-OSI Europe: Answer to a written question – Welcoming US scientists and researchers to Europe after Trump administration budget cuts – E-001093/2025(ASW)

    Source: European Parliament

    The EU is a safe and attractive place for global researchers, and the Commission is working to further enhance the attractiveness of the EU as a place to conduct cutting-edge research. For example, by supporting the implementation of the new European framework for research careers[1], including the new European Charter for Researchers[2], with a view to retaining EU talents and attracting international ones, including from the US[3].

    Several initiatives are in the pipeline to further attract international talents. This includes a new ‘Choose Europe for Science’ Marie Skłodowska-Curie Action (MSCA)[4] already in 2025 to provide excellent researchers coming to Europe with pathways to stable employment[5], increasing the funding for European Research Council (ERC)[6] grantees who move to Europe from abroad, as well as a visa strategy.

    At the same time, EURAXESS[7] continues to provide personalised support to incoming researchers, covering topics such as visas, relocation, career development, pensions, and family integration.

    Furthermore, the European Research Area (ERA) Talent Platform[8] as a one-stop-shop for researchers ensures the visibility of the attractive environment of European careers, and a Research and Innovation Careers Observatory (ReICO)[9] will provide as of mid-2025 data from EU Member States and the Organisation for Economic Cooperation and Development ( OECD) countries on research careers to support additional evidence-based policies. Targeted communication activities are currently being assessed.

    A proposal for a legislative ‘ERA Act’ is expected in the 3rd quarter of 2026, which will include measures to further strengthen researchers’ careers and mobility, including the freedom of scientific research, thereby enhancing Europe’s attractiveness for researchers.

    The upcoming advanced digital skills academies under the Digital Europe Programme will include the possibility of establishing fellowship schemes, allowing PhD students and young professionals to work in EU-based companies.

    • [1] Council Recommendation of 18 December 2023 on a European framework to attract and retain research, innovation and entrepreneurial talents in Europe, OJ C C2023/1640, 29/12/2023.
    • [2] https://euraxess.ec.europa.eu/hrexcellenceaward/european-charter-researchers .
    • [3] Measures include for example a Mutual Learning Exercise ( https://projects.research-and-innovation.ec.europa.eu/en/statistics/policy-support-facility/psf-challenge/mutual-learning-exercise-research-careers ) under the Horizon Europe Policy Support Facility supporting the exchange of good practices by Member States, a Horizon Europe Talent Ecosystems pilot call https://ec.europa.eu/info/funding-tenders/opportunities/portal/screen/opportunities/topic-details/HORIZON-WIDERA-2024-ERA-02-03?isExactMatch=true&status=31094501,31094503,31094502&frameworkProgramme=43108390&callIdentifier=HORIZON-WIDERA-2024-ERA-02&order=ASC&pageNumber=1&pageSize=50&sortBy=identifie supporting attractive careers for early-career researchers, the HR Excellence in Research award https://euraxess.ec.europa.eu/hrexcellenceaward to improve working conditions in organisations employing researchers, based on the principles of the European Charter for Researchers, and the enhancement of the RESAVER https://www.resaver.eu/ complementary pension scheme for researchers.
    • [4] https://ec.europa.eu/commission/presscorner/detail/en/ip_25_657 .
    • [5] The MSCA also provide a wide range of training, mobility and career development opportunities that are already available and open to researchers of all nationalities, including US researchers. See https://marie-sklodowska-curie-actions.ec.europa.eu/.
    • [6] https://erc.europa.eu/about-erc/erc-glance.
    • [7] https://euraxess.ec.europa.eu/ .
    • [8] https://ec.europa.eu/era-talent-platform/ .
    • [9] https://ec.europa.eu/era-talent-platform/reico/ , developed in partnership with the OECD with Horizon Europe support.

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  • MIL-OSI Europe: Answer to a written question – Need for an updated list of high-risk countries in the annex to Directive (EU) 2018/843 – E-001187/2025(ASW)

    Source: European Parliament

    In line with the Anti-Money Laundering Directive[1] and the methodology[2] for identifying high risk third countries, the lists of the Financial Action Task Force (FATF) are the baseline for the EU list of high risk third countries. The European Commission is a founding member of the FATF setting the Anti-money laundering and countering the financing of terrorism (AML/CFT) standards globally. The Commission also autonomously lists third countries posing a specific and serious threat to the EU’s financial system. In the future, the revised policy on third countries[3] will continue to rely on the FATF listings as a baseline. Under the new framework on Anti-money laundering agreed in 2024[4], countermeasures and enhanced due diligence measures will be more detailed and tailor made for each listed country. This will mean an effective, consistent and harmonised mitigating response at EU level. Such granular identification would, in line with the risk-based approach, also ensure that the measures are proportionate to the level of risk.

    As regard the next update of the EU list, the Commission remains committed to adopt an updated EU list of high risk third countries as soon as possible in order to protect the EU financial system. In the past months, the Commission has been working with relevant third countries and with the European Parliament to address the concerns raised by the European Parliament in its resolution rejecting the latest EU list in April 2024.

    • [1]  OJ L 156, 19.6.2018, p. 43-74, https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32018L0843 .
    • [2] SWD(2020)0099 final, https://finance.ec.europa.eu/document/download/f745b6e8-735b-4855-b050-f52276356fe6_en?filename=200507-anti-money-laundering-terrorism-financing-action-plan-methodology_en.pdf .
    • [3] Regulation (EU) 2024/1624 of the European Parliament and of the Council of 31 May 2024 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, OJ L, 2024/1624, 19.6.2024.
    • [4] Latest update on Anti-money laundering and countering the financing of terrorism legislative package — European Commission https://finance.ec.europa.eu/news/latest-update-anti-money-laundering-and-countering-financing-terrorism-legislative-package-2024-04-24_en.
    Last updated: 15 May 2025

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