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Category: Europe

  • MIL-OSI USA: Treasury Secretary Bessent Defends Tax Breaks for those who Invest in China

    Source: United States House of Representatives – Congressman Brad Sherman (D-CA)

    WASHINGTON, D.C. – Our tax system allows for lower tax rates for capital gains on stocks to incentivize Americans to make investments that grow our economy. Yet, Americans who invest in companies abroad and build the economies of other nations – even in adversarial nations such as China – are still able to receive this preferential tax treatment. Meanwhile, China provides preferential tax treatment to investments in China, but not those made in the United States. 

    At a recent hearing with Treasury Secretary Scott Bessent, I asked him a few simple questions: Can you think of a reason why the American tax code should provide enormous tax benefits like the capital gains allowance to Americans who invest in Chinese stocks? Don’t we prefer American capital to be invested in America?

    To which he replied that while he would never bet against America, those that do, can and should be able to receive tax benefits.

    In January, President Trump signed an executive order calling for an America First Trade Policy, but apparently that means America First so long as those who send our capital to China get massive tax breaks.

    “The American people deserve a tax code that puts our workers, our industries, and our national interest ahead of foreign profits,” said Congressman Brad Sherman. “If the Trump Administration is serious about an “America First” agenda, it should start by ending tax breaks for those who ship capital—and opportunity—to China.”

    Rewarding U.S. investors who invest in Chinese companies that may compete with or even threaten U.S. industries is not strategic. It’s not pro-worker. And it’s certainly not America First.

    Last Congress, I introduced the bipartisan No Capital Gains Allowance for American Adversaries Act, which would eliminate the capital gains tax break for investments in companies based in China, Russia, Belarus, Iran, and North Korea. It would also eliminate a related tax break, the “step-up in basis” at death, for investments in such companies, and would direct the SEC to require disclosure that no tax breaks are available for these stocks. I plan to re-introduce this bill this Congress.

    Watch my exchange – Here.

     

    See a partial transcript – Here. 

     

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    MIL OSI USA News –

  • MIL-OSI: Kaleido Life Introduces the Third Way to Fund Your Future: Cash. Credit. Kaleido.

    Source: GlobeNewswire (MIL-OSI)

    Photo Courtesy of Craig Du Bruyn

    ATLANTA, May 14, 2025 (GLOBE NEWSWIRE) — Forget cash or credit. Kaleido Life is pioneering a third way to fund your life—by inheriting from your future self, today.

    Currently in pre-launch, Kaleido Life is an Atlanta-based insurtech company building a new category in life insurance: interest-free, upfront cash benefits delivered at the start of a policy—not at the end of life. Designed for today’s generation of value-seekers, the platform uses AI, biometrics, and behavioral science to offer hyper-personalized liquidity with no loans, no interest, and no credit checks.

    “Our product is the bridge between people’s dreams and their reality,” said Craig Du Bruyn, Founder and CEO of Kaleido Life. “Life insurance is simply how we deliver it. It’s not a loan—it’s your money, unlocked.”

    Not Borrowed. Not Earned. Inherited.

    Through Kaleido’s proprietary Life Liquidity Score™, qualified customers receive up to 25% of their death benefit in cash at policy inception. The system dynamically evaluates mortality, health behaviors, and lifestyle to determine eligibility and tiered benefit levels. The funds can be used for real needs—paying off student debt, funding a first home, starting a business, or taking a life-changing leap—without sacrificing long-term protection.

    Unlike traditional life insurance, which only pays out after death, or loans that burden the future with interest, Kaleido offers an immediate and debt-free bridge between aspiration and reality.

    Built for Living, Not Just Leaving

    Kaleido’s tech stack eliminates the typical friction in life insurance onboarding. Its AI-powered underwriting engine delivers real-time decisions, while its 360º Wellness Matrix integrates with wearables like Apple Watch and Oura Ring to promote long-term engagement. Healthier habits can lead to increased benefits, cashback rewards, and lower premiums over time.

    The result: a feedback loop that makes financial well-being and physical well-being mutually reinforcing.

    “We don’t just predict risk—we predict potential,” said Craig Du Bruyn. “Even if someone doesn’t qualify today, we guide them toward it. Our system reflects real lives—not just data points—and we build life insurance around what people actually need to live better now.”

    From Passive Product to Active Platform

    Kaleido Life isn’t competing on price—it’s competing on access, immediacy, and relevance. With 125 million Americans uninsured and 50% of policyholders saying they’d switch providers for a better experience, the company is positioning itself not just as an insurer—but as a financial wellness ally.

    Distribution is designed for the modern world: embedded finance partners, AI-powered influencer ecosystems, and social distribution models that scale trust—not just impressions.

    “Kaleido isn’t just another fintech—they’re building what legacy institutions can’t,” said Gary Bennett, former CEO and Chairman of CreditAccess Life and Seguros Monterrey New York Life. “This is the transformation the industry has been waiting for.”

    About Kaleido Life, Inc.

    Kaleido Life, Inc. is a pre-launch insurtech company based in Atlanta, Georgia, redefining the purpose of life insurance. Through AI, biometric data, and a proprietary liquidity engine, Kaleido enables policyholders to access future value today. With no loans, no interest, and no credit checks, the company’s Life Benefits™ platform is transforming life insurance from a passive promise into an active tool for financial and personal freedom.

    Contact Information:

    Contact Person’s Name: Craig Du Bruyn
    Organization / Company: Kaleido Life, Inc.
    Company website: https://kaleido-life.com/
    Contact Email Address: craig@kaleido-life.com
    City, State / Province, Country, Zip Code: Atlanta, GA

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3d771b7b-7e67-4f33-ba2b-77e66bc622d2

    The MIL Network –

  • MIL-OSI: MATTR Announces First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, May 14, 2025 (GLOBE NEWSWIRE) — Mattr Corp. (“Mattr” or the “Company”) (TSX: MATR) reported today its operational and financial results for the three months ended March 31, 2025. This press release should be read in conjunction with the Company’s Management Discussion and Analysis (“MD&A”) and interim consolidated financial statements for the three months ended March 31, 2025, which are available on the Company’s website and at www.sedarplus.com.

    Highlights include1:

    • On January 2, 2025, the Company completed its acquisition of AmerCable® Incorporated (“AmerCable”), a U.S. manufacturer of highly engineered wire and cable solutions for the net purchase price of US$283 million, equivalent to approximately CAD $407 million based on the USD-CAD exchange rate as of December 31, 2024 which includes the contractual purchase price, initial working capital adjustments, and US$19.3 million of cash in the business. This transaction is still subject to final net working capital adjustments. AmerCable is now reported under the Company’s Connection Technologies segment;
    • On a consolidated basis (including Continuing Operations and Discontinued Operations), Mattr reported revenue of $343 million, net income of $53 million, Adjusted EBITDA2 of $54 million, diluted Earnings Per Share (“EPS”) of 0.84 and diluted Adjusted EPS2 of $0.34. Results are inclusive of Modernization, Expansion and Optimization (“MEO”)2 costs of $2.7 million incurred during the quarter;
    • During the first quarter of 2025, Mattr’s Continuing Operations (including AmerCable) delivered revenue of $320 million, operating income of $18 million and Adjusted EBITDA of $47 million, an 80% increase compared to the first quarter of 2024;
    • The Connection Technologies segment’s first quarter revenue increased by 106% to $187 million compared to $91 million in the prior year’s quarter. Operating income increased by 24% to $18 million compared to $15 million in the prior year’s quarter and Adjusted EBITDA from the segment was $30 million, a 73% increase compared to the first quarter of 2024;
    • The Composite Technologies segment’s first quarter revenue increased by 11% to $133 million compared to $119 million in the prior year’s quarter. Operating income increased by 219% to $13 million compared to $4 million in the prior year’s quarter and Adjusted EBITDA from the segment was $21 million, a 40% increase compared to the first quarter of 2024;
    • During the first quarter of 2025, Discontinued Operations generated revenue of $23 million, operating income of $7 million and Adjusted EBITDA of $7 million; and
    • During the first quarter of 2025, the Company committed $11.6 million to new capital expenditures while outlaying approximately $24.1 million in cash, including previously accrued amounts, to support long-term growth in its Composite Technologies and Connection Technologies segments. The Company also repurchased approximately 1.0 million of its common shares for a total repurchase price of $11 million under its normal course issuer bid (“NCIB”). Subsequent to the quarter and as of April 30, 2025, the Company has repurchased 313,800 shares for an aggregate repurchase price of approximately $3.0 million.

    ______________________________
    1. The Company’s consolidated financial statements for the three months ended March 31, 2025, report Continuing Operations as the Company’s Composite Technologies and Connection Technologies reporting segments and Financial and Corporate. Discontinued Operations include Company’s Thermotite business, its final remaining pipe coating business. Total consolidated figures include figures from both Continuing Operations and Discontinued Operations
    2. Adjusted EBITDA, Adjusted EBITDA margin, and Adjusted EPS are non-GAAP measures. MEO costs is a supplementary financial measure. Non-GAAP measures and supplementary financial measures do not have standardized meanings prescribed by GAAP and are not necessarily comparable to similar measures provided by other companies. See “Section 5.0 – Reconciliation of Non-GAAP Measures” for further details and a reconciliation of these non-GAAP measures.

    “The first quarter of 2025 saw Mattr leverage its unique product portfolio to deliver strong business performance despite geopolitically driven uncertainty across many end markets,” said Mike Reeves, Mattr’s President & CEO. “With customer adoption of recently released technologies accelerating, robust performance from AmerCable in its first quarter as a Mattr brand, and newly established manufacturing facilities operating at improved levels of efficiency, Q1 saw meaningful year-over-year expansion of both revenue and Adjusted EBITDA generation within both operating segments.”

    “Mattr benefitted modestly during the first quarter from acceleration of purchasing decisions by some customers ahead of early April US tariff announcements.  While Mattr’s own USMCA compliant products were not directly impacted by these announcements, the uncertain outlook for global trade and macro-economic conditions has undoubtedly impacted customer confidence across much of the critical infrastructure landscape. Consequently, the Company currently expects demand for its products during the second quarter of 2025, and likely beyond, will be unfavorably impacted.  While the full year business impact remains unclear, we currently anticipate the second quarter of 2025 will see Mattr’s revenue and Adjusted EBITDA move lower sequentially.”

    Mr. Reeves continued, “While the Company cannot control the business environment within which it operates, in recent history the talented teams across our organization have proven nimble, resilient and cost-conscious in the face of challenging conditions.  As demonstrated by our first quarter performance, Mattr’s technology driven products, differentiated positioning in key markets, strong customer value proposition and rebalanced, modernized manufacturing footprint create the opportunity for market outperformance, regardless of prevailing conditions.”

    Mr. Reeves concluded, “Our hard-earned balance sheet strength enables Mattr to navigate market uncertainties with confidence, remaining committed to technology development, to enhancing cost and operational efficiency across the organization, to extracting commercial synergies from our newly expanded wire and cable portfolio and to creating long-term value for our shareholders, including via additional accretive acquisitions and the continued repurchase of shares under our NCIB.”

    Selected Financial Highlights    
           
        Three Months Ended
        March 31,
        2025   2024    
      (in thousands of Canadian dollars, except per share amounts and percentages) $ % $   %
      Revenue 320,120   210,039    
      Gross Profit 83,618 26% 59,768   28%
      Operating Income from Continuing Operations (a) 18,441 6% 4,029   2%
      Net Income (Loss) from Continuing Operations 48,069   (2,145 )  
      Net Income (Loss) from Discontinued Operations 4,657   (3,494 )  
      Net Income (Loss) for the period 52,726   (5,639 )  
      Earnings per share:          
      Basic 0.84   (0.09 )  
      Diluted 0.84   (0.09 )  
      Adjusted EBITDA from Continuing Operations (b) 46,554 15% 25,827   12%
      Adjusted EBITDA from Discontinued Operations (b) 7,477 32% 4,242   29%
      Total Consolidated Adjusted EBITDA from Operations (b) 54,031 16% 30,069   13%
      Total Consolidated Adjusted EPS from Operations (b)          
      Basic 0.34   0.16    
      Diluted 0.34   0.16    
    (a) Operating income for the three months ended March 31, 2025, includes no restructuring costs and other net, while operating loss for the three months ended March 31, 2024, includes $3.2 million restructuring costs and other net.
    (b) Adjusted EBITDA, adjusted EBITDA margins and Adjusted EPS are non-GAAP measures. Non-GAAP measures do not have standardized meanings under GAAP and are not necessarily comparable to similar measures provided by other companies. See “Section 5.0 – Reconciliation of Non-GAAP Measures” for further details and a reconciliation of these non-GAAP measures.
       

    1.0 FIRST QUARTER HIGHLIGHTS

    On January 2, 2025, the Company, through its subsidiary, successfully completed the acquisition of AmerCable, a U.S.-based manufacturer of highly engineered wire and cable solutions, from Nexans USA Inc. AmerCable has been incorporated into Mattr’s Connection Technologies segment, which is now the largest segment in its portfolio. The Company paid US$283 million, equivalent to approximately CAD $407 million based on the USD-CAD exchange rate as of December 31, 2024 which includes the contractual purchase price, initial working capital adjustments, and US$19.3 million of cash in the business. The final working capital adjustment is anticipated to be completed during the second half of the year.

    During the first quarter of 2025, the Company delivered $320.1 million in revenue from Continuing Operations, a $110.1 million or a 52.4% increase from the same quarter of 2024. The Company’s operating income from Continuing Operations in the first quarter of 2025 was $18.4 million, an increase of $14.4 million, or 357.7%, compared to the first quarter of 2024. Adjusted EBITDA from Continuing Operations was $46.6 million during the first quarter of 2025, an increase of $20.7 million, or 80.3%, compared to the first quarter of 2024. These favorable movements as compared to the prior year period were driven by the addition of AmerCable and strong performance across most business lines, despite the economic uncertainties arising from tariff announcements.

    The first quarter of 2025 results include $9.5 million in costs associated with the acquisition of AmerCable including the impact of $4.2 million of costs related to the non-cash inventory fair value adjustment, which was part of AmerCable purchase price allocation accounting. The Company’s financial results in the first quarter of 2025 also include the impact of $2.7 million in MEO costs related to the Company’s ongoing MEO strategy and is similar to the $2.7 million of MEO costs recorded in the first quarter of 2024. Additionally, the Company recorded a recovery of $2.2 million in share-based incentive compensation against operating income from Continuing Operations during the first quarter of 2025 driven by the change in the Company’s share price. Comparatively, operating income from Continuing Operations in the prior year’s first quarter included an expense of $7.6 million in share-based incentive compensation.

    As at March 31, 2025, the Company had cash and cash equivalents totaling $52.7 million, a decrease from $502.5 million as at December 31, 2024 which included restricted cash. The decrease in cash compared to the year-end 2024 was largely attributable to closing and funding the AmerCable acquisition during the quarter.

    Selected Segment Financial Highlights        
             
        Three Months Ended
        March 31,
        2025       2024    
      (in thousands of Canadian dollars) $     % $   %
      Revenue              
      Connection Technologies 187,346       90,757    
      Composite Technologies 132,774       119,282    
      Revenue from Continuing Operations 320,120       210,039    
      Revenue from Discontinued Operations 23,301       14,422    
      Operating Income (Loss)              
      Connection Technologies 18,041     10% 14,543   16%
      Composite Technologies 12,807     10% 4,017   3%
      Financial and Corporate (12,407 )     (14,531 )  
      Operating Income from Continuing Operations 18,441       4,029    
      Operating Income from Discontinued Operations 7,493       3,696    
      Adjusted EBITDA (a)              
      Connection Technologies 30,461     16% 17,617   19%
      Composite Technologies 21,038     16% 15,008   13%
      Financial and Corporate (4,945 )     (6,798 )  
      Adjusted EBITDA from Continuing Operations (a) 46,554     15% 25,827   12%
      Adjusted EBITDA from Discontinued Operations (a) 7,477     32% 4,242   29%
    a) Adjusted EBITDA is non-GAAP measures. Non-GAAP measures do not have standardized meanings under GAAP and are not necessarily comparable to similar measures provided by other companies. See “Section 5.0 – Reconciliation of Non-GAAP Measures” for further details and a reconciliation of these non-GAAP measures.
       

    The Connection Technologies segment now includes the Company’s Shawflex, AmerCable and DSG-Canusa business lines, and delivered revenue of $187.3 million in the first quarter of 2025, a new first quarter record and an increase of $96.6 million when compared to the first quarter of 2024. Its operating income in the first quarter of 2025 was $18.0 million compared to $14.5 million in the first quarter of 2024. The segment delivered Adjusted EBITDA of $30.5 million during the first quarter of 2025, a $12.8 million increase versus the prior year quarter. This was the first quarter the Company’s business included AmerCable’s financial results, which significantly contributed to the increased financial performance in the Connection Technologies segment as compared to the first quarter of 2024. The AmerCable business line contributed strong performance across its end markets in the first quarter of 2025, particularly the mining sector. The Connection Technologies segment results include a $4.2 million impact from non-cash inventory fair value adjustment as part of AmerCable purchase price allocation accounting, which is added back for Adjusted EBITDA purposes. The segment successfully completed all expected first-quarter AmerCable business onboarding activities.

    Consolidated revenue generation in the segment’s wire and cable businesses (Shawflex and AmerCable) was strongly favorable compared to the prior year, driven primarily by increases in the mining, energy and industrial sectors, partially offset by weaker sales into infrastructure applications, driven by customer project timing.

    DSG-Canusa revenue increased marginally compared to the prior year period, primarily driven by higher sales into automotive end markets in North America as the Company gained market share despite a backdrop of reduced global automotive production during the quarter.

    Year-over-year increases in segment operating income and Adjusted EBITDA were primarily driven by the addition of AmerCable, partially offset by $2.7 million of non-capitalizable MEO costs associated with the bifurcation and relocation of its North American footprint. This compares to $0.4 million of MEO cost recognized in the prior year period.

    The Composite Technologies segment contains the Company’s Flexpipe® and Xerxes® business lines and delivered revenue of $132.8 million in the first quarter of 2025, an increase of $13.5 million, or 11.3%, compared to the first quarter of 2024. Operating income for the segment in the first quarter of 2025 was $12.8 million, an $8.8 million increase from the $4.0 million reported in the first quarter of 2024.

    North American Flexpipe revenue increased compared to the same period in the prior year, despite significantly reduced North American completion activity, as the Company continued to secure new customers and further penetrate the large diameter product market. The business also benefitted from some customers accelerating purchases ahead of potential tariff announcements. International revenue was lower year-over-year, primarily due to the timing of orders and deliveries, with the prior-year period benefiting from a significant shipment to the Middle East.

    Within Xerxes, first-quarter revenue exceeded the prior-year period, primarily driven by increased sales of Fiberglass Reinforced Plastic (FRP) tanks for retail fuel applications and Hydrochain products for storm water management applications.

    Adjusted EBITDA for the Composite Technologies segment in the first quarter of 2025 was $21.0 million, an increase of $6.0 million from the $15.0 million reported in the first quarter of 2024. This increase was primarily driven by higher gross profit resulting from increased revenue. This was partially offset by a slight decline in gross margin, reflecting a change in product mix and increased freight expenses associated with pre-emptive relocation of inventory into the U.S. to mitigate potential tariff impacts. The segment did not incur any non-capitalizable MEO costs in the first quarter of 2025, as the new production facilities for Flexpipe and Xerxes were fully set up and operational, compared to $2.3 million of MEO costs incurred during the first quarter of 2024 for the setup of these production sites.

    Discontinued Operations generated revenue of $23.3 million and $7.5 million of Adjusted EBITDA during the first quarter of 2025 compared to $14.4 million in revenue and $4.2 million of Adjusted EBITDA during the first quarter of 2024.

    2.0 OUTLOOK

    The Company acknowledges that extreme uncertainty exists regarding the magnitude and duration of tariffs impacting the movement of goods between the US and other countries, and the business and economic consequences arising from such tariffs. The Company currently manufactures products in the US and/or Canada that are sold cross-border in all of its business units and imports raw materials and component parts for the production of its products. The Company also sources raw materials from other countries that are currently subject to or may in the future become subject to tariffs by the United States government. The Company continues to diversify its supply chain and has secured sources based in several different countries for a majority of its raw material needs. The Company remains vigilant and prepared to take additional mitigation actions as needed, including raising the selling prices of its products where necessary and permitted under its contractual arrangements. The related economic uncertainty may also cause customers to pause or cancel investment decisions, which could impact overall near-term demand for the Company’s products in certain end markets. The outlook below includes the Company’s current visibility of the potential impact of tariffs. Despite near and medium term geopolitical and macroeconomic challenges, the Company remains positive on the long-term outlook and macro drivers for its products.

    • The Company has largely completed its disposition of non-core assets and the modernization, expansion and optimization of its North American production network, with the remaining sale of its Brazilian pipe coating business expected to close around mid 2025 and the relocation of its Shawflex manufacturing site expected to be completed at the end of the second quarter of 2025.  MEO costs are expected to be $5 to $7 million in the second quarter and will mark the completion of the MEO expense recognition program by the Company. Consequently, over the course of 2025, Mattr is expected to return to more normalized operations, with a primary focus on delivering value from its restructured operational footprint while also ensuring full integration and optimization of AmerCable following its acquisition.
    • The Company currently anticipates revenue and Adjusted EBITDA from Continuing Operations in the second quarter of the year to fall below the first quarter of 2025, including the recognition of MEO costs during the second quarter within its Connection Technologies segment. The Company observed some accelerated customer purchasing activity during the first quarter – primarily in its Flexpipe business – as a result of tariff uncertainty, and amid this uncertainty, the Company currently anticipates some customer purchasing decisions in the second quarter and beyond may be delayed or reduced.
    • The Company currently anticipates sales from its Xerxes fuel and water products in the second quarter of 2025 will rise modestly compared to the first quarter as conditions become more favorable for underground installation activity. Production efficiency from the business’s recently established South Carolina site is expected to evolve favorably over the remainder of 2025.
    • The Company currently anticipates sales of its Flexpipe products in the second quarter of 2025 will be lower than the first quarter, as modestly higher international shipments and continued North American market share gains are likely offset by further reductions in North American completion activity, driven by tariff uncertainty and lower oil prices. Production efficiency from the business’s recently established Texas site is expected to evolve favorably over the remainder of 2025.
    • The Company currently anticipates sales of its DSG-Canusa products in the second quarter of 2025 will be similar to the first quarter, as lower activity from its automotive customers is expected to be offset by new customer capture and new product introduction. The production efficiency from the business’s recently established Ohio site is expected to evolve favorably over the remaining course of 2025.
    • The Company currently anticipates sales of Shawflex and AmerCable wire and cable products in the second quarter of 2025 will decline compared to the first quarter, driven primarily by lower deliveries into specific industrial, mining and energy applications, partially offset by higher deliveries into infrastructure applications. The timing of specific deliveries within the AmerCable business drove a particularly strong result during the first quarter, which is still expected to be the strongest quarter of 2025 for this business. Copper price volatility has also increased since the start of the year and is being closely monitored to ensure the impacts arising from any rapid movements are minimized.
    • The Company has successfully leveraged Shawflex resources to secure early confirmation of US and Canadian customer appetite to utilize AmerCable’s medium voltage products in specific industrial applications and continues to anticipate initial, modest benefits from these expected industrial sector commercial synergies will commence in the second half of 2025. Key AmerCable related factors impacting Connection Technology segment results to date, and going forward, include:
      • The Company incurred approximately $1 million of non-routine onboarding expenses related to the acquisition of AmerCable in the first quarter, and expects additional expenses of up to $4 million over the remainder of 2025. These costs are added back for the calculation of  Adjusted EBITDA.
      • The revaluation of AmerCable’s inventory to fair value as part of the purchase price allocation accounting is expected to temporarily lower gross margins in the first half of the year as the inventory is sold. These costs are added back for the calculation of  Adjusted EBITDA.
      • The recognition of intangible assets, including goodwill, customer relationships and trade names as part of the AmerCable purchase price allocation accounting and the corresponding amortization of these assets will impact reported earnings. However, these are non-cash expenses and do not impact the Company’s underlying operational performance or cash flow.
    • While the Company expects to maintain its “all of the above” approach to capital allocation, with the acquisition of AmerCable and the majority of its large organic MEO projects completed, the Company’s capital deployment in 2025 is expected to focus more heavily on debt repayment and activity under its NCIB.  The Company currently anticipates total full year capital expenditures will be $60-$70 million, with approximately $15 million of such amount allocated to maintenance capital, and the remaining amounts allocated to growth projects, including completion of the remaining MEO projects. Given the elevated geopolitical uncertainty, the Company continues to evaluate market conditions and remains prepared to adjust its capital program and spend as needed.
    • The Company has moved above its normal net-debt-to-Adjusted EBITDA ratio target of 2.0 times, including leases, as a result of its acquisition of AmerCable. Through prioritization of debt repayment, the Company currently expects to move back below its normal target ratio within 12 to 18 months of the acquisition date.

    3.0 CONFERENCE CALL AND ADDITIONAL INFORMATION

    Mattr will be hosting a Shareholder and Analyst Conference Call and Webcast on Thursday, May 15th, 2025 at 9:00 AM ET, which will discuss the Company’s First Quarter 2025 Financial Results. To participate via telephone, please register at https://register-conf.media-server.com/register/BI28b49f607d3649d1b1fc5343ae8247b0 and a telephone number and pin will be provided.

    Alternatively, please go to the following website address to participate via webcast: https://edge.media-server.com/mmc/p/gd2jsma9. The webcast recording will be available within 24 hours of the live presentation and will be accessible for 90 days.

    About Mattr

    Mattr is a growth-oriented, global materials technology company broadly serving critical infrastructure markets, including transportation, communication, water management, energy and electrification. The Company operates through a network of fixed manufacturing facilities. Its two business segments, Composite Technologies and Connection Technologies, enable responsible renewal and enhancement of critical infrastructure.

    For further information, please contact:

    Meghan MacEachern
    VP, Investor Relations & External Communications
    Tel: 437-341-1848
    Email: meghan.maceachern@mattr.com
    Website: www.mattr.com

    Source: Mattr Corp.
    Mattr.ER

    4.0 FORWARD-LOOKING INFORMATION

    This news release includes certain statements that reflect management’s expectations and objectives for the Company’s future performance, opportunities and growth, which statements constitute “forward-looking information” and “forward-looking statements” (collectively “forward-looking information”) under applicable securities laws. Such statements, other than statements of historical fact, are predictive in nature or depend on future events or conditions. Forward-looking information involves estimates, assumptions, judgements and uncertainties. These statements may be identified by the use of forward-looking terminology such as “may”, “will”, “should”, “anticipate”, “expect”, “believe”, “predict”, “estimate”, “continue”, “intend”, “plan” and variations of these words or other similar expressions.

    Specifically, this news release includes forward-looking in-formation in the Outlook Section and elsewhere in respect of, among other things: the ability of the Company to deliver higher returns to all shareholders; the Company’s ability to deliver customer and shareholder value expansion; the expected timing for the closing of the sale of Thermotite; the gross sale proceeds of the sale of Thermotite; the anticipated timing for the final working capital adjustment for the AmerCable acquisition; the expected timing of the relocation of the Shawflex manufacturing site; the expected amount of MEO costs to be incurred in the second quarter of 2025; the expected completion of the MEO expense recognition program; the return to more normalized operations in the remainder of 2025; the decline in consolidated revenue and Adjusted EBITDA in the second quarter of 2025; the anticipated customer purchasing decisions in the second quarter of 2025 and beyond; the impact of tariffs implemented by the U.S. administration, including on the demand for the Company’s products in the second quarter of 2025 and beyond; increased sales from Xerxes fuel and water products in the second quarter of 2025; sales of Flexpipe products in the second quarter of 2025; the volume of sales of Shawflex, AmerCable and DSG-Canusa products in the second quarter of 2025; the impact of new DSG-Canusa product introduction; the impact of lower activity of automotive customers; the level of efficiency in the Company’s recently established production facilities, including the Xerxes South Carolina facility, the Flexpipe Texas facility, and the DSG-Canusa Ohio facility; the Company’s approach to capital allocation and expected capital deployment, including debt repayment and activity under the Company’s normal course issuer bid (“NCIB”).

    Forward-looking information involves known and unknown risks and uncertainties that could cause actual results to differ materially from those predicted by the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information as a number of factors could cause actual events, results and prospects to differ materially from those expressed in or implied by the forward-looking information. Significant risks facing the Company include but are not limited to the risks and uncertainties described in the Company’s Management’s Discussion and Analysis under “Risks and Uncertainties” and in the Company’s Annual Information Form (“AIF”) under “Risk Factors”.

    These statements of forward-looking information are based on assumptions, estimates and analysis made by management in light of its experience and perception of trends, current conditions and expected developments as well as other factors believed to be reasonable and relevant in the circumstances. These assumptions include those in respect of: the scale and duration of North American trade tariffs; expectations for demand for the Company’s products; sales trends for the Company’s products; North American onshore oilfield customer spending; the Company’s ability to increase efficiency in its newly established manufacturing facilities; the effectiveness of modernization, expansion and optimization efforts; the Company’s cash flow generation and growth outlook; activity levels across the Company’s business segments; the Company’s ability to manage supply chain disruptions and other business impacts caused by, among other things, current or future geopolitical events, conflicts, or disruptions, such as the conflict in Ukraine and related sanctions on Russia; the impact of the Russia and Ukraine conflict on the Company’s demand for products and the strength of its and its customers supply chains; the current Israel-Palestine conflict; the impact of changing interest rates and levels of inflation; regular, seasonal impacts on the Company’s businesses, including in the fiberglass reinforced plastic (“FRP”) tanks business and composite pipe business; expectations regarding the Company’s ability to attract new customers and develop and maintain relationships with existing customers; the continued availability of funding required to meet the Company’s anticipated operating and capital expenditure requirements over time; consistent competitive intensity in the business in which the Company operates; no significant or unexpected legal or regulatory developments, other shifts in economic conditions, or macro changes in the competitive environment affecting the Company’s business activities; key interest rates remaining relatively stable through the remainder of 2025; the accuracy of the forecast data from the Company’s North American convenience store customers; the accuracy of market indicators in determining industry health for AmerCable’s products, such as commodity prices, housing starts, and GDP; the impact of federal stimulus packages in the Connection Technologies reporting segment; heightened demand for electric and hybrid vehicles and for electronic content within those vehicles particularly in the Asia Pacific, Europe and Africa regions; heightened infrastructure spending in Canada, including in respect of commercial and municipal water projects, nuclear plant refurbishment and upgraded communication and transportation networks, communication networks and nuclear refurbishments; sustained health of oil and gas producers; the continued global need to renew and expand critical infrastructure, including energy generation and distribution, electrification, transportation network enhancement and storm management; the Company’s ability to execute projects under contract; the Company’s continuing ability to provide new and enhanced product offerings to its customers; that the Company will identify and successfully execute on opportunities for acquisitions or investments; the higher level of investment in working capital by the Company; the easing of supply chain shortages and the continued supply of and stable pricing or the ability to pass on higher prices to the Company’s customers for commodities used by the Company; the availability of personnel resources sufficient for the Company to operate its businesses; the maintenance of operations by the Company in major oil and gas producing regions; the adequacy of the Company’s existing accruals in respect of environmental compliance and in respect of litigation and tax matters and other claims generally; the impact of adoption of artificial intelligence and other machine learning on competition in the industries which the Company operates; the Company’s ability to meet its financial objectives; the ability of the Company to satisfy all covenants under its Credit Facility (as defined herein) and other debt obligations and having sufficient liquidity to fund its obligations and planned initiatives; and the availability, commercial viability and scalability of the Company’s greenhouse gas emission reduction strategies and related technology and products, and the anticipated costs and impacts on the Company’s operations and financial results of adopting these technologies or strategies. The Company believes that the expectations reflected in the forward-looking information are based on reasonable assumptions in light of currently available information. However, should one or more risks materialize, or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward-looking information included in this news release and the Company can give no assurance that such expectations will be achieved.

    When considering the forward-looking information in making decisions with respect to the Company, readers should carefully consider the foregoing factors and other uncertainties and potential events. The Company does not assume the obligation to revise or update forward-looking information after the date of this news release or to revise it to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

    To the extent any forward-looking information in this news release constitutes future oriented financial information or financial outlooks, within the meaning of securities laws, such information is being provided to demonstrate the potential of the Company and readers are cautioned that this information may not be appropriate for any other purpose. Future oriented financial information and financial outlooks, as with forward-looking information generally, are based on the assumptions and subject to the risks noted above.

    5.0 RECONCILIATION OF NON-GAAP MEASURES

    The Company reports on certain non-GAAP and other financial measures that are used to evaluate its performance and segments, as well as to determine compliance with debt covenants and to manage its capital structure. These non-GAAP and other financial measures do not have standardized meanings under IFRS and are not necessarily comparable to similar measures provided by other companies. The Company discloses these measures because it believes that they provide further information and assist readers in understanding the results of the Company’s operations and financial position. These measures should not be considered in isolation or used in substitution for other measures of performance prepared in accordance with GAAP. The following is a reconciliation of the non-GAAP measures reported by the Company.  

    EBITDA and Adjusted EBITDA

    EBITDA is a non-GAAP measure defined as earnings before interest, income taxes, depreciation and amortization. Adjusted EBITDA is also a non-GAAP measure defined as EBITDA adjusted for items which do not impact day to day operations. Adjusted EBITDA is calculated by adding back to EBITDA the sum of impairments, costs associated with refinancing of long-term debt and credit facilities, gain on sale of land and other, gain on sale of investment in associates, gain on sale of operating unit, acquisition costs, restructuring costs, share-based incentive compensation cost, foreign exchange (gain) loss and other, net, hyperinflationary adjustments and the impact of transactions that are outside the Company’s normal course of business or day to day operations. The Company believes that EBITDA and Adjusted EBITDA are useful supplemental measures that provide a meaningful indication of the Company’s results from principal business activities prior to the consideration of how these activities are financed or the tax impacts in various jurisdictions and for comparing its operating performance with the performance of other companies that have different financing, capital or tax structures. The Company presents Adjusted EBITDA as a measure of EBITDA that excludes the effect of transactions that fall outside the Company’s ordinary course of business or routine operations. Adjusted EBITDA is used by many analysts as one of several important analytical tools to evaluate financial performance and is a key metric in business valuations. It is also considered important by lenders to the Company and is included in the financial covenants of the Credit Facility.

        Three Months Ended  
          March 31,     March 31,  
      (in thousands of Canadian dollars)   2025     2024  
                   
      Net Income (Loss) from Continuing Operations $ 48,069   $ (2,145 )
                   
      Add:            
      Income tax expense   (38,858 )   3,948  
      Finance costs, net   9,230     2,226  
      Amortization of property, plant and equipment, intangible assets and ROU assets   16,883     8,568  
      EBITDA from Continuing Operations   35,324     12,597  
                   
      Share-based incentive compensation (recovery) cost   (2,192 )   7,632  
      Foreign exchange loss   3,907     2,397  
      Restructuring costs and other, net   —     3,201  
      Cost associated with acquisition (a)   5,320     —  
      Non-cash impact from inventory fair value adjustment (b)   4,195     —  
      Adjusted EBITDA from Continuing Operations $ 46,554   $ 25,827  
    a) Costs associated with the acquisition of AmerCable Incorporated.    
    b) Cost of goods sold impact from purchase price allocation accounting adjustment on acquired inventory from AmerCable acquisition.   
    Connection Technologies Segment      
           
        Three Months Ended
          March 31,     March 31,  
      (in thousands of Canadian dollars)   2025     2024  
                   
      Operating Income $ 18,041   $ 14,543  
                   
      Add:            
      Amortization of property, plant and equipment, intangible assets and ROU assets   7,619     1,722  
      EBITDA   25,660     16,265  
                   
      Share-based incentive compensation (recovery) cost   (368 )   1,319  
      Restructuring costs and other, net   —     33  
      Cost associated with acquisition (a)   974     —  
      Non-cash impact from inventory fair value adjustment (b)   4,195     —  
      Adjusted EBITDA $ 30,461   $ 17,617  
    a) Costs associated with the acquisition of AmerCable Incorporated.    
    b) Cost of goods sold impact from purchase price allocation accounting adjustment on acquired inventory from AmerCable acquisition. 
    Composite Technologies Segment      
             
        Three Months Ended
          March 31,     March 31,  
      (in thousands of Canadian dollars)   2025     2024  
                   
      Operating Income $ 12,807   $ 4,017  
                   
      Add:            
      Amortization of property, plant and equipment, intangible assets and ROU assets   8,667     6,371  
      EBITDA   21,474     10,388  
                   
      Share-based incentive compensation (recovery) cost   (436 )   1,452  
      Restructuring costs and other, net   —     3,168  
      Adjusted EBITDA $ 21,038   $ 15,008  
    Financial and Corporate      
           
        Three Months Ended  
          March 31,     March 31,  
      (in thousands of Canadian dollars)   2025     2024  
                   
      Operating Loss $ (12,407 ) $ (14,531 )
                   
      Add:            
      Cost associated with repayment and modification of long-term debt   —     —  
      Amortization of property, plant and equipment, intangible assets and ROU assets   597     475  
      EBITDA   (11,810 )   (14,056 )
                   
      Share-based incentive compensation (recovery) cost   (1,388 )   4,861  
      Foreign exchange loss   3,907     2,397  
      Cost associated with acquisition (a)   4,346     —  
      Adjusted EBITDA $ (4,945 ) $ (6,798 )
    a) Costs associated with the acquisition of AmerCable Incorporated.    
    Discontinued Operations      
             
        Three Months Ended  
          March 31,     March 31,  
      (in thousands of Canadian dollars)   2025     2024  
                   
      Net Income (Loss) from Discontinued Operations $ 4,657   $ (3,494 )
                   
      Add:            
      Income tax (recovery) expense   2,998     1,869  
      Finance costs, net recovery   (162 )   (84 )
      Amortization of property, plant and equipment, intangible assets and ROU assets   —     428  
      EBITDA from Discontinued Operations   7,493     (1,281 )
                   
      Foreign exchange (gain) loss   (16 )   118  
      Loss on sale of operating unit and subsidiary   —     5,405  
      Adjusted EBITDA from Discontinued Operations $ 7,477   $ 4,242  
    Total Consolidated Mattr (Continuing and Discontinued Operations)    
             
        Three Months Ended  
          March 31,     March 31,  
      (in thousands of Canadian dollars)   2025     2024  
                   
      Net Income (Loss) $ 52,726   $ (5,639 )
                   
      Add:            
      Income tax expense   (35,860 )   5,817  
      Finance costs, net   9,068     2,142  
      Amortization of property, plant and equipment, intangible assets and ROU assets   16,883     8,996  
      EBITDA   42,817     11,316  
                   
      Share-based incentive compensation (recovery) cost   (2,192 )   7,632  
      Foreign exchange loss   3,891     2,515  
      Loss on sale of operating unit and subsidiary   —     5,405  
      Restructuring costs and other, net   —     3,201  
      Cost associated with acquisition (a)   5,320     —  
      Non-cash impact from inventory fair value adjustment (b)   4,195     —  
      Adjusted EBITDA $ 54,031   $ 30,069  
    a) Costs associated with the acquisition of AmerCable Incorporated.    
    b) Cost of goods sold impact from purchase price allocation accounting adjustment on acquired inventory from AmerCable acquisition.    
           

    Adjusted EBITDA Margin

    Adjusted EBITDA margin is defined as Adjusted EBITDA divided by revenue and is a non-GAAP measure. The Company believes that Adjusted EBITDA margin is a useful supplemental measure that provides meaningful assessment of the business results of the Company and its Operating Segments from principal business activities excluding the impact of transactions that are outside of the Company’s normal course of business.

    See reconciliation above for the changes in composition of Adjusted EBITDA, as a result of which the table below reflects restated figures for the prior year quarter to align with the updated composition.

    Operating margin is defined as operating (loss) income divided by revenue and is a non-GAAP measure. The Company believes that operating margin is a useful supplemental measure that provides meaningful assessment of the business performance of the Company and its Operating Segments. The Company uses this measure as a key indicator of financial performance, operating efficiency and cost control based on volume of business generated.

    Adjusted Net Income (attributable to shareholders)

    Adjusted Net Income (attributable to shareholders) is a non-GAAP measure defined as Net Income (attributable to shareholders) adjusted for items which do not impact day to day operations. Adjusted Net Income (attributable to shareholders) is calculated by adding back to Net Income (attributable to shareholders)  the after tax impact of the sum of impairments, costs associated with refinancing of long-term debt and credit facilities, gain on sale of land and other, gain on sale of investment in associates, gain on sale of operating unit, acquisition costs, restructuring costs, share-based incentive compensation cost, foreign exchange (gain) loss and other, net and hyperinflationary adjustments. The Company believes that Adjusted Net Income (attributable to shareholders) is a useful supplemental measure that provides a meaningful indication of the Company’s results from principal business activities for comparing its operating performance with the performance of other companies that have different financing, capital or tax structures.

    Adjusted Earnings Per Share (“Adjusted EPS”)

    Adjusted EPS (basic) is a non-GAAP measure defined as Adjusted Net Income (attributable to shareholders) divided by the number of common shares outstanding. Adjusted EPS (diluted) is a non-GAAP measure defined as Adjusted Net Income (attributable to shareholders) divided by the number of common shares outstanding, further adjusted for potential dilutive impacts of outstanding securities which are convertible to common shares. The Company presents Adjusted EPS as a measure of Earning Per Share that excludes the impact of transactions that are outside the Company’s normal course of business or day to day operations. Adjusted EPS indicates the amount of Adjusted Net Income the Company makes for each share of its stock and is used by many analysts as one of several important analytical tools to evaluate financial performance and is a key metric in business valuations.

    Total Consolidated Mattr Adjusted EPS (Continuing and Discontinued Operations)      
                 
        Three Months Ended
    		  
        March 31, March 31,  
      (in thousands of Canadian dollars except for per share amounts) 2025 2024  
              Earnings Per Share       Earnings Per Share  
                                 
              Basic Diluted         Basic   Diluted  
      Total Consolidated Mattr Net Income (Loss)(a)  $ 52,726   0.84 0.84   $ (5,842 ) (0.09 ) (0.09 )
                                 
      Adjustments (before tax):                          
      Share-based incentive compensation (recovery) cost   (2,192 )         7,632          
      Foreign exchange loss   3,891           2,515          
      Loss on sale of operating unit and subsidiary   —           5,405          
      Restructuring costs and other, net   —           3,201          
      Cost associated with acquisition (b)   5,320           —          
      Non-cash impact from inventory fair value adjustment (c)   4,195           —          
      Tax effect of above adjustments   (1,499 )         (2,066 )        
      Tax impact of the AmerCable acquisition   (40,819 )         —          
      Total Consolidated Mattr Adjusted Net Income (non-GAAP) (a)  $ 21,622   0.34 0.34   $ 10,845   0.16   0.16  
    (a) Attributable to Shareholders of the Company.
    (b) One-time costs associated with the acquisition of AmerCable Incorporated.
    (c) One-time cost of goods sold impact from purchase price allocation accounting adjustment on acquired inventory from AmerCable acquisition.
       

    Total Net debt-to-Adjusted EBITDA

    Total Net debt-to-Adjusted EBITDA is a non-GAAP measure defined as the sum of long-term debt, current lease liabilities and long-term lease liabilities, less cash and cash equivalents (including restricted cash), divided by the Consolidated (Continuing and Discontinued Operations) Adjusted EBITDA, as defined above, for the trailing twelve-month period. The Company believes Total Net debt-to-Adjusted EBITDA is a useful supplementary measure to assess the borrowing capacity of the Company. Total Net debt-to-Adjusted EBITDA is used by many analysts as one of several important analytical tools to evaluate how long a company would need to operate at its current level to pay of all its debt. It is also considered important by credit rating agencies to determine the probability of a company defaulting on its debt.

    See discussion above for the changes into the composition of Adjusted EBITDA. The table below reflects restated figures for the prior year quarters to align with current presentation.

          March 31,   December 31  
      (in thousands of Canadian dollars except Net debt-to-EBITDA ratio)   2025     2024  
               
      Long-term debt $ 449,633   $ 471,238  
      Lease Liabilities   165,869     163,127  
      Cash and cash equivalents (and restricted cash)   (52,716 )   (502,490 )
      Total Net Debt   562,786     131,875  
               
      Q1 2024 Adjusted EBITDA   —     30,069  
      Q2 2024 Adjusted EBITDA   42,824     42,824  
      Q3 2024 Adjusted EBITDA   36,743     36,743  
      Q4 2024 Adjusted EBITDA   21,060     21,060  
      Q1 2025 Adjusted EBITDA   54,031     —  
      Trailing twelve-month Adjusted EBITDA $ 154,658   $ 130,696  
      Total Net debt-to-Adjusted EBITDA   3.64     1.01  


    Total Interest Coverage Ratio

    Total Interest Coverage Ratio is a non-GAAP measure defined as Consolidated Adjusted EBITDA (Continuing and Discontinued Operations), as defined above, for the trailing twelve-month period, divided by finance costs, net, for the trailing twelve-month period. The Company believes Total Interest Coverage Ratio is a useful supplementary measure to assess the Company’s ability to honor its debt payments. Total Interest Coverage Ratio is used by many analysts as one of several important analytical tools to judge a company’s ability to pay interest on its outstanding debt. It is also considered important by credit rating agencies to determine a company’s riskiness relative to its current debt or for future borrowing.

          March 31,   December 31  
      (in thousands of Canadian dollars except Net debt-to-EBITDA ratio)   2025     2024  
                   
      Q1 2024 Adjusted EBITDA $ —   $ 30,069  
      Q2 2024 Adjusted EBITDA   42,824     42,824  
      Q3 2024 Adjusted EBITDA   36,743     36,743  
      Q4 2024 Adjusted EBITDA   21,060     21,060  
      Q1 2025 Adjusted EBITDA   54,031     —  
      Trailing twelve-month Adjusted EBITDA $ 154,658   $ 130,696  
                   
      Q1 2024 Finance cost, net   —     2,142  
      Q2 2024 Finance cost, net   4,341     4,341  
      Q3 2024 Finance cost, net   4,804     4,804  
      Q4 2024 Finance cost, net   5,846     5,846  
      Q1 2025 Finance cost, net   9,068     —  
      Trailing twelve-month finance cost, net $ 24,059   $ 17,133  
      Total Interest Coverage Ratio   6.43     7.63  


    Modernization, Expansion and Optimization (“MEO”) Costs

    MEO costs is a supplementary financial measure. MEO costs not eligible for capitalization are reported as selling, general and administrative expenses or as cost of goods sold and incurred in support of the Company’s certain specific, planned capital investments into high-return growth and efficiency improvement opportunities. These include the following:

    • The replacement of the Company’s Rexdale facility in Toronto, Ontario and the expansion of its Connection Technologies segment’s North American manufacturing footprint through:
      • a new heat-shrink tubing production site in Fairfield, Ohio; and
      • a new wire and cable production site in Vaughan, Ontario.
    • The addition of two new manufacturing facilities and the elimination of aging manufacturing facilities within the Composite Technologies network, namely:
      • the shut-down and exit of aging production capabilities in the Xerxes FRP tank production site footprint;
      • a new Xerxes FRP tank production site in Blythewood, South Carolina;
      • a new Flexpipe composite pipe production site in Rockwall, Texas along with the co-located Hydrochain™ stormwater infiltration chamber production line.

    The Company considers these costs incremental to its normal operating base and would not have been incurred if these projects were not ongoing.

    6.0 ADDITIONAL INFORMATION

    Additional information relating to the Company, including its AIF, is available on SEDAR+ at www. sedarplus.com and on the “Investors Centre” page of the Company’s website at: https://investors.Mattr.com/Investor-Center/default.aspx.

    Dated: May 14, 2025

    The MIL Network –

  • MIL-OSI USA: DeGette Statement Following Marathon Markup of Trump’s ‘One Big, Bogus Bill’

    Source: United States House of Representatives – Congresswoman Diana DeGette (First District of Colorado)

    WASHINGTON, D.C. — Today, Congresswoman Diana DeGette (CO-01) released the following statement after the Energy & Commerce Committee completed a nearly 27 hour-long markup of Trump’s ‘One Big, Bogus Bill’ that would cut $715 billion from Medicaid, kick 13.7 million Americans off their health care, and defund Planned Parenthood to give tax cuts to billionaires.

    “House Republicans held a 27 hour markup, starting debate over the health care provisions at 1 o’clock in the morning, to hide what they are doing from the American people. Throughout the night, they deflected from their true intentions of kicking millions of Americans off their health care. But here’s the truth: you can’t cut $715 billion from Medicaid without kicking eligible recipients off the program. The policies House Republicans want to implement have been tried in states like Georgia and Arkansas, and they have failed miserably, leading to eligible people losing their health care and actually costing the states more money. Make no mistake: this bill will lead to eligible recipients losing their health care, and House Republicans couldn’t care less.

    “Furthermore, they are specifically targeting Planned Parenthood, which serves over 60,000 Coloradans annually, by eliminating their federal funding. That means 1 million Planned Parenthood patients on Medicaid will lose access to care, such as cancer screenings, wellness visits, HIV prevention, and family planning counseling.

    “House Republicans are so focused on appeasing Trump and giving tax cuts to billionaires that they are gutting essential health care programs and providers. I called out their cuts throughout the markup, and I am going to continue to fight to protect Medicaid and access to health care as Republicans try to jam this monstrosity of a bill through Congress.”

    Democrats on the committee offered a number of amendments to stop this bill from taking health care away from hard-working Americans. Republicans voted against every single Democratic amendment, including: 

    • An amendment to require the HHS Secretary to certify that the Trump administration will not cut Medicaid benefits.
    • An amendment to prevent defunding Planned Parenthood.
    • An amendment to prevent the bill from taking effect if any of the provisions result in an increase in mortality rates.
    • An amendment to require 100 percent of savings to be reinvested in medical assistance for eligible Medicaid recipients.
    • An amendment to maintain state flexibility in funding Medicaid.
    • An amendment to require assessments from states on the impact of this bill on uncompensated care and emergency department wait time.
    • An amendment to remove unnecessary and burdensome paperwork requirements.
    • An amendment to require states to provide 12 months postpartum coverage.
    • An amendment to codify a ban on CHIP waiting periods.
    • An amendment noting the Sense of Congress that Americans should not pay more than those in other countries for the exact same prescription drugs.

    An amendment that says none of the provisions of the bill will take effect if any of the provisions result in reduced access to coverage.

    ###

    MIL OSI USA News –

  • MIL-OSI Global: Should AD stand for Alzheimer’s disease, or for Auguste Deter, the patient whose case was first described?

    Source: The Conversation – Canada – By Donald Weaver, Professor of Chemistry and Senior Scientist of the Krembil Research Institute, University Health Network, University of Toronto

    Alzheimer’s disease is named for Alois Alheimer (left), but his patient, Auguste Deter (right), should not be overlooked. (Wikimedia Commons)

    Auguste Deter was born 175 years ago on May 16, 1850. Though the story of her life is not widely known, it should be. Through her suffering and dignity, Deter puts a much-needed human face on the tragedy of Alzheimer’s disease (AD), one of the most important medical problems currently confronting humankind. Auguste Deter reminds us that AD is a disease of people, not proteins.

    Often, scientists reduce AD to a disorder of shrunken brain cells or misfolded proteins. However, AD is so much more.

    It is a disease that impairs thought processes and personal memories — the very essence of what makes each one of us an individual capable of hopes, dreams, love and being loved. AD is a very human disease and a very human struggle for individuals, their families and society as a whole. Deter is a crucial reminder of the human aspects of this devastating disease.

    ‘I have lost myself’

    Although dementia had been recognized for centuries, Deter was the first person officially diagnosed with the type of dementia now recognized as Alzheimer’s disease.

    Auguste Deter was a patient of Alois Alzheimer. His report on her case was the first description of what is now Alzheimer’s disease.
    (Wikimedia Commons)

    Born Auguste Hochmann into a working-class family, the financial hardships imposed by her father’s early death forced Deter into full-time employment as a seamstress at age 14. She continued this work until marrying Karl Deter, a railway clerk. The couple moved to Frankfurt, Germany where they lived as a happy and harmonious family with their daughter, Thekla.

    Tragically in the spring of 1901, this loving and caring 51-year-old woman began to be incapable of routine household activities. Soon, due to her progressive memory loss and intellectual impairment, she was no longer able to function on her own. She was admitted to the Frankfurt Psychiatric Hospital under the care of Dr. Alois Alzheimer.

    Alzheimer asked her many questions to which she would sometimes quietly reply “Ich habe mich verloren.” (“I have lost myself.”) Sadly, her relentless cognitive decline continued. On July 12, 1905, Alzheimer recorded that Deter’s deterioration had progressed such that she was lying on her side in a pool of urine, knees drawn up, unable to communicate. She died on April 8, 1906 from pneumonia and infected bed sores.

    Definitive features

    Alois Alzheimer.
    (Provided by U.S. National Library of Medicine)

    During the subsequent autopsy, Alzheimer identified not only Deter’s marked brain shrinkage but also localized clumps (“plaques”) of an unknown deposited substance as well as dense bundles of tangled fibres in what were once healthy brain cells.

    These latter two observations — now recognized as amyloid plaques and tau tangles — have become the diagnostic features that define the pathology of AD. In 1907, Alzheimer published a scientific paper in which he described Deter’s brain and her “new” type of dementia.

    Unfortunately, Alzheimer was unable to dedicate a long career to a more comprehensive understanding of this disease. He contracted rheumatic fever in 1912, dying of its complications three years later at age 51. Nonetheless, the Deter case report was sufficient to establish his legacy as the discoverer of Alzheimer’s disease.

    As an inquisitive psychiatrist and pathologist, Alzheimer had been interested in medicine and science, not fame. He was not seeking to name a disease after himself. In 1910, Alzheimer’s boss, the renowned German psychiatrist Emil Kraepelin, wrote the influential Handbook of Psychiatry – a textbook in which he named this newly identified type of dementia “Alzheimer’s Disease.” In doing so, Kraepelin’s textbook ultimately transformed Alzheimer’s name into a household word.

    Meanwhile, in Prague

    But does Alzheimer’s disease truly deserve to be called Alzheimer’s disease? There are other people who can claim contributions to the discovery of Alzheimer’s disease.

    In 1907, the same year that Alzheimer published his single case description of Deter, a Czech psychiatrist named Oskar Fischer independently published a thorough structural analysis of plaques in the brains of 12 people with dementia. Between 1910-1912, he went on to analyze plaques and pathological brain changes in another 58 cases of dementia.

    Oskar Fischer.
    (Wikimedia Commons)

    Arguably, Fischer made more important contributions than Alzheimer to the comprehensive description of the disease. Yet it is called Alzheimer’s disease, not Fischer’s disease.

    There are many reasons for this. Fischer was Jewish and subject to antisemitism. He was not at a prominent German university and did not have a powerful ally like Emil Kraepelin promoting his career. And science is, after all, a very human activity.

    Unfortunately, Fischer later became trapped in occupied Prague under the oppression of authoritarian Nazi rule. Fischer was arrested in 1941 and died in the Gestapo’s notorious Small Fortress prison on Feb. 28, 1942.

    It seemed likely that Fischer’s seminal contributions to our understanding of dementia would be lost. Thankfully in 2008, Michel Goedert of Cambridge University rediscovered Fischer’s significant contributions stored in the archives of Charles University in Prague. This has restored Fischer to his rightful position as one of the discoverers of AD and retrospectively raises questions about the correct naming attribution of AD.

    However, when considering the naming of AD, we must not forget Patient No. 1: Auguste Deter. Interestingly and fortuitously, her initials are AD. So, should AD signify Auguste Deter disease rather than Alzheimer’s disease? Should the Alzheimer-Fischer controversy be resolved by simply reassigning the AD abbreviation to Auguste Deter? Should the disease be named after its “first patient,” rather than the physician(s) who discovered it?

    Medicine has a penchant for naming signs, symptoms and diseases after the physicians who first described them. We typically tend not to name them after the afflicted person. Perhaps this is done to preserve patient confidentiality; perhaps not.

    But AD is a disease like no other. It’s very personal. It affects the memories, thoughts and emotions that define us as human beings. We must never forget that AD is a disease of people and families, not just proteins and fibrils. Deter tragically yet courageously embodies the human heartbreak of this dreadful disease.

    Deter’s contribution to the 1907 single case report study by Alzheimer was immense: Deter’s life, illness and death are the story of AD. Deter should be remembered. It was and is her disease.

    Donald Weaver 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. Should AD stand for Alzheimer’s disease, or for Auguste Deter, the patient whose case was first described? – https://theconversation.com/should-ad-stand-for-alzheimers-disease-or-for-auguste-deter-the-patient-whose-case-was-first-described-255942

    MIL OSI – Global Reports –

  • MIL-OSI Russia: IMF Executive Board Receives Request for Flexible Credit Line Arrangement with Costa Rica

    Source: IMF – News in Russian

    May 14, 2025

    Washington, DC:  After concluding the 2025 Article IV consultation with Costa Rica on May 12, 2025, the International Monetary Fund (IMF) Executive Board met on the same day in an informal session[1] to discuss a request from the authorities for a two-year arrangement under the Flexible Credit Line (FCL) with the IMF in an amount equivalent to SDR 1.1082 billion (300 percent of quota or about US$1.5 billion). The authorities intend to treat the credit line as precautionary.

    The FCL is reserved for countries with very strong policy frameworks and track records in economic performance. It helps safeguard countries by providing them with upfront access to IMF resources in case needed if future external shocks materialize. The FCL also permits qualifying countries to signal continued commitment to very strong institutional frameworks and macroeconomic and financial policies. Unlike the Extended Fund Facility (EFF) arrangement, which the authorities completed in 2024, the FCL has no ex-post conditionality.

    On the basis of Costa Rica’s very strong economic fundamentals, institutional policy frameworks, and track record, IIMF Managing Director Kristalina Georgieva intends to recommend approval of the FCL arrangement for Costa Rica when the IMF Executive Board meets again to take a decision in the following weeks. The IMF stands ready to continue its fruitful engagement with Costa Rica.

    [1] During an informal session, IMF staff engages with Executive Board Members to discuss country matters where no formal board decision is expected.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Meera Louis

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    https://www.imf.org/en/News/Articles/2025/05/14/pr25146-costa-rica-imf-receives-request-for-fcl-arrangement

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI Russia: China Internet Civilization Conference to Focus on Young Netizens, Digital Literacy

    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

    BEIJING, May 14 (Xinhua) — The 2025 China Internet Civilization Conference will be held from June 10 to 11 in Hefei, east China’s Anhui Province. The event will focus on building a cyber civilization among young netizens and improving the nation’s digital literacy, organizers said Wednesday.

    As Yang Jianwen, deputy director of the Office of the Central Cyberspace Commission and the State Internet Information Office of the People’s Republic of China, noted at a press conference in Beijing, the program of the two-day conference, themed “Accumulating the Positive Energy of the Internet and Shaping New Trends of the Era,” will include a grand opening ceremony, a main forum, 14 sub-forums and a series of thematic events designed to showcase scientific and technological achievements and innovations.

    The event will also feature a number of new achievements in the field of building a cyber civilization.

    Young Chinese Internet users, whose number has now reached about 540 million, are an important force in the formation of cyber civilization, Yang Jianwen emphasized, adding that an initiative to develop a youth Internet civilization is planned to be announced during the main forum.

    The conference is held by the Office of the Central Cyberspace Commission and the Office of the CPC Central Committee for Spiritual Culture, jointly with the Party Committee and the People’s Government of Anhui Province. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: World Conference on Digital Education 2025 Opens in Wuhan

    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

    WUHAN, May 14 (Xinhua) — The 2025 World Conference on Digital Education kicked off Wednesday in Wuhan, central China’s Hubei Province. Chinese Vice Premier Ding Xuexiang attended the opening ceremony and delivered a speech.

    As Ding Xuexiang, also a member of the Standing Committee of the Politburo of the CPC Central Committee, emphasized, China pays close attention to the development of digital education.

    According to him, China, which is currently accelerating the construction of an educational power, will consistently promote digital transformation and intelligent upgrading of the education sector.

    Ding Xuexiang said that China is building a modern digital education system that is more equitable, has higher quality and intellectualization, and provides universal lifelong learning for the entire population.

    The Chinese vice premier called for harnessing the momentum of education development in the age of intelligence, deepening international cooperation in digital education, and accelerating the implementation of the UN Global Digital Compact.

    The 2025 Global Conference on Digital Education on “Education Development and Transformation: The Age of Intelligence” will run until May 16.

    The opening ceremony of the event was attended by more than 600 people, including officials from Chinese and foreign governments, heads of relevant international organizations, representatives from universities, primary and secondary schools, as well as experts and scholars. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: China suspends designation of several US companies and export restrictions against them

    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

    BEIJING, May 14 (Xinhua) — China on Wednesday suspended the designation of several U.S. companies as unreliable entities and the application of export restrictions against them, the Ministry of Commerce said.

    In response to media questions, the agency’s official representative said that the measure announced on April 4 to include 11 American companies in China’s list of unreliable entities has been suspended for 90 days.

    The April 9 move to add six more U.S. companies to the list of untrustworthy entities has also been suspended, and Chinese businesses are now allowed to apply to do business with those companies, the spokesman said.

    In addition, China has suspended for 90 days the export control measures that placed 28 U.S. companies on the export control list on April 4 and 9, the Commerce Department official added.

    In the event that exporters need to supply dual-use goods to the above-mentioned 28 companies, they must submit an application to the Ministry of Commerce in accordance with current regulations. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Chinese Foreign Minister Meets with New Sudanese Foreign Minister

    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

    BEIJING, May 14 (Xinhua) — Chinese Foreign Minister Wang Yi met with Omer Mohamed Ahmed Siddig, Sudan’s outgoing ambassador to China and new foreign minister, in Beijing on Wednesday.

    Wang Yi, also a member of the Politburo of the CPC Central Committee, congratulated O. M. A. Siddig on his appointment as Sudanese Foreign Minister and expressed gratitude for his contribution to the development of China-Sudan relations during his time as ambassador to China.

    Noting that this year marks the 10th anniversary of the establishment of strategic partnership between China and Sudan, Wang called on the two sides to implement the important consensus reached by the two heads of state and promote continuous fruitful results in bilateral relations to benefit the peoples of both countries.

    The Chinese diplomat stressed that China firmly supports Sudan in protecting its sovereignty, independence and territorial integrity, as well as in achieving peace, stability and development as soon as possible. China will continue to provide Sudan with feasible humanitarian assistance, the Chinese Foreign Minister added.

    O. M. A. Siddig, in turn, said that Sudan regards China as its most important partner and reliable friend, prioritizes cooperation with it, and will continue to firmly support the country in protecting its core interests. As Foreign Minister, he promised to make every effort to develop the strategic partnership between Sudan and China and to jointly implement important global initiatives put forward by China. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Peruvian President Appoints E. Arana as New Prime Minister

    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

    LIMA, May 14 (Xinhua) — Peruvian President Dina Boluarte on Wednesday appointed former Justice Minister Eduardo Arana as the country’s new prime minister following the resignation of Gustavo Adriaenssen.

    When asked by D. Boluarte during the oath taking session, “Do you swear before God and the Fatherland to conscientiously and faithfully fulfill the duties of Prime Minister, without engaging in corruption?” E. Arana replied, “I swear.”

    Peru’s president then swore in new cabinet members who will serve with her until her term ends next year. –0–

    MIL OSI Russia News –

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

    Source: GlobeNewswire (MIL-OSI)

    CULVER CITY, Calif., May 14, 2025 (GLOBE NEWSWIRE) —  Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, today announced financial results for its first quarter ended March 31, 2025.

    First Quarter 2025 and Recent Operational Highlights

    ARK Franchise Updates:

    • ARK: Survival Evolved (“ASE”):
      • Units sold were approximately 690,775 for the first quarter 2025
      • Revealed teaser trailer for ARK: Aquatica, a new in-house developed downloadable content (“DLC”) expansion map for ASE
    • ARK: Survival Ascended (“ASA”):
      • Units sold were approximately 751,960 for the first quarter 2025
      • Launched the Astraeos Map as an Official Partner DLC for ASA
      • Revealed the official trailer for ARK: Lost Colony, the next DLC for ASA produced by Studio Wildcard
    • ARK: Ultimate Mobile Edition (“ARK Mobile”) :
      • Surpassed 4.8 million downloads as of March 31, 2025
      • Launched the Ragnarok expansion map and the Extinction map
      • In the three months ended March 31, 2025, average DAUs totaled 143,976

    Game Portfolio Updates:

    • Debuted teaser trailers for two in-house developed projects, Nine Yin Sutra: Wushu and Nine Yin Sutra: Immortal
    • Launched new trailers for upcoming games: For The Stars, Honeycomb: The World Beyond, Robots at Midnight, and Echoes of Elysium
    • Celebrated Bellwright’s one-year Early Access anniversary in April 2025 and introduced major update with significant content and player-requested features. Bellwright will be making its way to Xbox
    • Launched The Cecil: The Journey Begins and Chasmal Fear
    • Company indie publishing label, Wandering Wizards, acquired publishing rights to Whispers of West Grove

    Business Updates:

    • Company subsidiary Interactive Films LLC (“Interactive Films”) signed a Memorandum of Understanding (“MoU”) with Mega Matrix Inc. (“MPU”) for the joint development, production, and global distribution of short dramas

    Management Commentary

    Company co-Chief Executive Officer Tony Tian commented: “The first quarter saw sustained growth and strong engagement across our ARK franchise. Our ARK franchise had an increase in daily active users in the first quarter of 2025 of approximately 16%, up to 243,000 on the Steam and Epic platforms, when compared to the same period in 2024. We unveiled and released new maps and DLCs for ASE, ASA, and our mobile title, delivering fresh, immersive experiences that continue to expand the ARK universe and deepen player engagement. ARK: Ultimate Mobile Edition maintained strong momentum since launch last quarter, a promising indicator of our ongoing efforts to broaden ARK’s audience. The mobile platform removes hardware barriers, opening the franchise to a new and growing player base. In February, we participated in GDC, where we unveiled a series of new trailers, announcements, and upcoming content for the ARK franchise and our broader game portfolio.”

    “Next month marks a major milestone: the 10-year anniversary of ASE. This pivotal moment for Snail Games offers an opportunity to celebrate the franchise’s legacy and community. Beyond gaming, we also signed a MoU with Mega Matrix to co-develop at least 10 short dramas. In support of this initiative, we soft-launched Salty TV, our mobile short film platform, last quarter, which currently hosts 49 short dramas. We look forward to finalizing the agreement and working closely with the MPU team to deliver high-quality entertainment content. As we look to the remainder of 2025, our focus remains on expanding global reach, investing in scalable growth, commemorating ARK’s 10-year journey, and continuing to deliver innovative experiences that engage players and audiences across multiple platforms and genres.”

    First Quarter 2025 Financial Highlights

    Net revenues for the three months ended March 31, 2025, increased 42.5% to $20.1 million compared to $14.1 million in the same period last year. The increase was primarily due to an increase in total ARK sales of $2.7 million, an increase in ARK Mobile sales of $1.3 million that was driven by the release of ARK: Ultimate Mobile Edition, and the Company deferring $3.3 million less of its sales during the three months ended March 31, 2025 than it deferred in the same period last year, partially offset by a decrease in revenues related to other games of $1.6 million.

    Net loss for the three months ended March 31, 2025, was $(1.9) million compared to $(1.8) million in the same period last year; as a result of the aforementioned increase in net revenue offset by increases in the costs of revenues and operating expenses – a result of the Company’s increased headcount, research and development, and marketing expenses.

    Bookings for the three months ended March 31, 2025, increased 13.6% to $22.2 million compared to $19.6 million in the same period last year. The increase was primarily due to the releases of ARK: Survival Ascended DLC Astraeos in the first quarter of 2025, the releases of Bobs Tall Tales, and Bellwright in the latter quarters of 2024.

    Earnings before interest, taxes, depreciation and amortization (“EBITDA”) for the three months ended March 31, 2025, was $(3.2) million compared to $(1.9) million in the same period last year. The decrease was primarily due to an increase in benefit from income taxes of $1.0 million, a decrease in interest expense of $0.3 million, and an increase in net loss of $0.1 million, partially offset by a decrease in interest income and interest income – related parties of $0.1 million.

    As of March 31, 2025, unrestricted cash was $9.4 million compared to $7.3 million as of December 31, 2024.

    Use of Non-GAAP Financial Measures

    In addition to the financial results determined in accordance with U.S. generally accepted accounting principles, or GAAP, Snail believes Bookings and EBITDA, as non-GAAP measures, are useful in evaluating its operating performance. Bookings and EBITDA are non-GAAP financial measures that are presented as supplemental disclosures and should not be construed as alternatives to net income (loss) or revenue as indicators of operating performance, nor as alternatives to cash flow provided by operating activities as measures of liquidity, both as determined in accordance with GAAP. Snail supplementally presents Bookings and EBITDA because they are key operating measures used by management to assess financial performance. Bookings adjusts for the impact of deferrals and, Snail believes, provides a useful indicator of sales in a given period. EBITDA adjusts for items that Snail believes do not reflect the ongoing operating performance of its business, such as certain non-cash items, unusual or infrequent items or items that change from period to period without any material relevance to its operating performance. Management believes Bookings and EBITDA are useful to investors and analysts in highlighting trends in Snail’s operating performance, while other measures can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which Snail operates and capital investments.

    Bookings is defined as the net amount of products and services sold digitally or physically in the period. Bookings is equal to revenues, excluding the impact from deferrals. Below is a reconciliation of total net revenue to Bookings, the closest GAAP financial measure.

        Three months ended
    March 31,
        2025     2024
        (in millions)
    Total net revenue   $ 20.1     $ 14.1
    Change in deferred net revenue     2.1       5.5
    Bookings   $ 22.2     $ 19.6

    We define EBITDA as net loss before (i) interest expense, (ii) interest income, (iii) benefit from income taxes and (iv) depreciation expense. The following table provides a reconciliation from net loss to EBITDA:

        Three months ended March 31,
        2025     2024  
        (in millions)
    Net loss   $ (1.9 )   $ (1.8 )
    Interest income and interest income - related parties     –       (0.1 )
    Interest expense     0.1       0.4  
    Benefit from income taxes     (1.5 )     (0.5 )
    Depreciation expense     0.1       0.1  
    EBITDA   $ (3.2 )   $ (1.9 )

    Webcast Details

    The Company will host a webcast at 4:30 PM ET today to discuss the first quarter 2025 financial results. Participants may access the live webcast and replay via the link here or on the Company’s investor relations website at https://investor.snail.com/.

    Forward-Looking Statements

    This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “may,” “predict,” “continue,” “estimate” and “potential,” or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements regarding Snail’s intent, belief or current expectations. These forward-looking statements include information about possible or assumed future results of Snail’s business, financial condition, results of operations, liquidity, plans and objectives. The statements Snail makes regarding the following matters are forward-looking by their nature: growth prospects and strategies; launching new games and additional functionality to games that are commercially successful; expectations regarding significant drivers of future growth; its ability to retain and increase its player base and develop new video games and enhance existing games; competition from companies in a number of industries, including other casual game developers and publishers and both large and small, public and private Internet companies; its ability to attract and retain a qualified management team and other team members while controlling its labor costs; its relationships with third-party platforms such as Xbox Live and Game Pass, PlayStation Network, Steam, Epic Games Store, My Nintendo Store, the Apple App Store, the Google Play Store and the Amazon Appstore; the size of addressable markets, market share and market trends; its ability to successfully enter new markets and manage international expansion; protecting and developing its brand and intellectual property portfolio; costs associated with defending intellectual property infringement and other claims; future business development, results of operations and financial condition; the ongoing conflicts involving Russia and Ukraine, and Israel and Hamas, on its business and the global economy generally; actions in various countries, particularly in China and the United States, have created uncertainty with respect to tariff impacts on the costs of our merchandise and costs of development; rulings by courts or other governmental authorities; the Company’s current program to repurchase shares of its Class A common stock, including expectations regarding the timing and manner of repurchases made under this share repurchase program; its plans to pursue and successfully integrate strategic acquisitions; and assumptions underlying any of the foregoing.

    Further information on risks, uncertainties and other factors that could affect Snail’s financial results are included in its filings with the Securities and Exchange Commission (the “SEC”) from time to time, including its annual reports on Form 10-K and quarterly reports on Form 10-Q filed, or to be filed, with the SEC. You should not rely on these forward-looking statements, as actual outcomes and results may differ materially from those expressed or implied in the forward-looking statements as a result of such risks and uncertainties. All forward-looking statements in this press release are based on management’s beliefs and assumptions and on information currently available to Snail, and Snail does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

    About Snail, Inc.

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

    Investor Contact:

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

    Snail, Inc. and Subsidiaries
    Condensed Consolidated Balance Sheets as of March 31, 2025 and December 31, 2024 (Unaudited)

    		  
        March 31, 2025     December 31, 2024  
                 
    ASSETS                
                     
    Current Assets:                
    Cash and cash equivalents   $ 9,359,116     $ 7,303,944  
    Accounts receivable, net of allowances for credit losses of $523,500 as of March 31, 2025 and December 31, 2024     9,118,269       9,814,822  
    Accounts receivable – related party     1,332,867       2,336,274  
    Loan and interest receivable – related party     106,252       105,759  
    Prepaid expenses – related party     2,536,748       2,521,291  
    Prepaid expenses and other current assets     1,468,062       1,846,024  
    Prepaid taxes     7,174,973       7,318,424  
    Total current assets     31,096,287       31,246,538  
                     
    Restricted cash and cash equivalents     935,000       935,000  
    Accounts receivable – related party, net of current portion     592       1,500,592  
    Prepaid expenses – related party, net of current portion     9,907,669       9,378,594  
    Property and equipment, net     4,310,448       4,378,352  
    Intangible assets, net     2,159,141       973,914  
    Deferred income taxes     12,852,299       10,817,112  
    Other noncurrent assets     2,282,709       1,683,932  
    Operating lease right-of-use assets, net     953,082       1,279,330  
    Total assets   $ 64,497,227     $ 62,193,364  
                     
    LIABILITIES, NONCONTROLLING INTERESTS AND STOCKHOLDERS’ EQUITY                
                     
    Current Liabilities:                
    Accounts payable   $ 4,241,403     $ 4,656,367  
    Accounts payable – related party     15,716,600       15,383,171  
    Accrued expenses and other liabilities     2,886,414       4,499,280  
    Interest payable – related parties     527,770       527,770  
    Revolving loan     3,000,000       3,000,000  
    Convertible notes at fair value     2,854,518       –  
    Current portion of long-term promissory note     2,701,003       2,722,548  
    Current portion of deferred revenue     3,864,474       3,947,559  
    Current portion of operating lease liabilities     1,042,688       1,444,385  
    Total current liabilities     36,834,870       36,181,080  
                     
    Accrued expenses     265,251       265,251  
    Deferred revenue, net of current portion     23,740,999       21,519,888  
    Operating lease liabilities, net of current portion     52,921       57,983  
    Total liabilities     60,894,041       58,024,202  
                     
    Commitments and contingencies                
                     
    Stockholders’ Equity:                
    Class A common stock, $0.0001 par value, 500,000,000 shares authorized; 9,815,355 shares issued and 8,465,080 shares outstanding as of March 31, 2025, and 9,626,070 shares issued and 8,275,795 shares outstanding as of December 31, 2024     981       962  
    Class B common stock, $0.0001 par value, 100,000,000 shares authorized; 28,748,580 shares issued and outstanding as of March 31, 2025 and December 31, 2024     2,875       2,875  
    Additional paid-in capital     27,063,795       25,738,082  
    Accumulated other comprehensive loss     (224,202 )     (279,457 )
    Accumulated deficit     (14,063,392 )     (12,117,385 )
    Treasury stock at cost (1,350,275 shares as of March 31, 2025 and December 31, 2024)     (3,671,806 )     (3,671,806 )
    Total Snail, Inc. equity     9,108,251       9,673,271  
    Noncontrolling interests     (5,505,065 )     (5,504,109 )
    Total stockholders’ equity     3,603,186       4,169,162  
    Total liabilities, noncontrolling interests and stockholders’ equity   $ 64,497,227     $ 62,193,364  
    Snail, Inc. and Subsidiaries
    Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months Ended March 31, 2025 and 2024 (Unaudited)    		  
                 
        Three months ended March 31,  
        2025     2024  
                 
    Revenues, net   $ 20,110,872     $ 14,115,729  
    Cost of revenues     14,263,345       12,041,698  
                     
    Gross profit     5,847,527       2,074,031  
                     
    Operating expenses:                
    General and administrative     4,964,351       2,282,040  
    Research and development     3,609,745       1,776,522  
    Advertising and marketing     1,306,365       141,030  
    Depreciation and amortization     67,904       82,338  
    Total operating expenses     9,948,365       4,281,930  
                     
    Loss from operations     (4,100,838 )     (2,207,899 )
                     
    Other income (expense):                
    Interest income     29,906       99,762  
    Interest income – related parties     493       499  
    Interest expense     (80,828 )     (395,964 )
    Other income     769,762       227,066  
    Foreign currency transaction income (loss)     (36,288 )     18,128  
    Total other income (expense), net     683,045       (50,509 )
                     
    Loss before benefit from income taxes     (3,417,793 )     (2,258,408 )
                     
    Benefit from income taxes     (1,470,830 )     (477,950 )
                     
    Net loss     (1,946,963 )     (1,780,458 )
                     
    Net loss attributable to non-controlling interests     (956 )     (1,129 )
                     
    Net loss attributable to Snail, Inc.   $ (1,946,007 )   $ (1,779,329 )
                     
    Comprehensive loss statement:                
                     
    Net loss   $ (1,946,963 )   $ (1,780,458 )
                     
    Other comprehensive income (loss) related to foreign currency translation adjustments, net of tax     33,232       (19,297 )
    Other comprehensive income (loss) related to credit adjustments, net of tax     22,023       –  
                     
    Total comprehensive loss   $ (1,891,708 )   $ (1,799,755 )
                     
    Net loss attributable to Class A common stockholders:                
    Basic   $ (441,731 )   $ (385,722 )
    Diluted   $ (521,393 )   $ (385,722 )
                     
    Net loss attributable to Class B common stockholders:                
    Basic   $ (1,504,276 )   $ (1,393,607 )
    Diluted   $ (1,775,558 )   $ (1,393,607 )
                     
    Loss per share attributable to Class A and B common stockholders:                
    Basic   $ (0.05 )   $ (0.05 )
    Diluted   $ (0.06 )   $ (0.05 )
                     
    Weighted-average shares used to compute loss per share attributable to Class A common stockholders:                
    Basic     8,442,025       7,957,031  
    Diluted     9,241,822       7,957,031  
                     
    Weighted-average shares used to compute loss per share attributable to Class B common stockholders:                
    Basic     28,748,580       28,748,580  
    Diluted     28,748,580       28,748,580  
    Snail, Inc. and Subsidiaries
    Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2025 and 2024 (Unaudited)

    		  
        2025     2024  
                 
    Cash flows from operating activities:                
    Net loss   $ (1,946,963 )   $ (1,780,458 )
    Adjustments to reconcile net loss to net cash provided by operating activities:                
    Amortization – intangible assets, net     35,516       200  
    Amortization – film assets     212,709       –  
    Amortization – loan origination fees and debt discounts     (1,889 )     47,729  
    Accretion – convertible notes     –       181,754  
    Gain on change in fair value of convertible notes     (117,105 )     –  
    Gain on change in fair value of warrant liabilities     (639,518 )     –  
    Depreciation and amortization – property and equipment     67,904       82,338  
    Stock-based compensation expense (income)     843,619       (926,875 )
    Deferred taxes, net     (2,041,515 )     (555,781 )
                     
    Changes in assets and liabilities:                
    Accounts receivable     696,553       17,759,629  
    Accounts receivable – related party     2,503,407       (1,085,213 )
    Prepaid expenses – related party     (544,532 )     (1,351,838 )
    Prepaid expenses and other current assets     377,962       (1,779,508 )
    Prepaid taxes     143,451       70,407  
    Other noncurrent assets     (656,562 )     –  
    Accounts payable     (198,705 )     (1,938,654 )
    Accounts payable – related party     623,430       (6,143,374 )
    Accrued expenses and other liabilities     (650,236 )     (461,311 )
    Loan and interest receivable – related party     (493 )     (499 )
    Lease liabilities     (80,510 )     (64,821 )
    Deferred revenue     2,138,026       4,723,462  
    Net cash provided by operating activities     764,549       6,777,187  
                     
    Cash flows from investing activities:                
    Acquisition of software     (290,000 )     –  
    Acquisition of software licenses     (1,412,000 )     –  
    Investments in software     (177,002 )     –  
    Net cash used in investing activities     (1,879,002 )     –  
    Cash flows from financing activities:                
    Repayments on promissory note     (21,546 )     (20,484 )
    Repayments on notes payable     –       (2,333,333 )
    Repayments on convertible notes     –       (269,550 )
    Repayments on revolving loan     –       (3,000,000 )
    Cash proceeds from exercise of warrants     159,000       –  
    Proceeds from issuance of convertible notes     3,000,000       –  
    Payments of capitalized offering costs     –       (262,914 )
    Net cash provided by (used in) financing activities     3,137,454       (5,886,281 )
                     
    Effect of foreign currency translation on cash and cash equivalents     32,171       (19,186 )
                     
    Net increase in cash and cash equivalents, and restricted cash and cash equivalents     2,055,172       871,720  
                     
    Cash and cash equivalents, and restricted cash and cash equivalents – beginning of the period     8,238,944       16,314,319  
                     
    Cash and cash equivalents, and restricted cash and cash equivalents – end of the period   $ 10,294,116     $ 17,186,039  
                     
    Supplemental disclosures of cash flow information                
    Cash paid during the period for:                
    Interest   $ 97,260     $ 171,101  
    Income taxes   $ 184,707     $ 1,871  
    Noncash transactions during the period for:                
    Debt converted to equity   $ –     $ (60,000 )
    Liabilities converted to equity upon exercise of warrants   $ 323,113     $ –  
    Acquisition of film licenses in accounts payable   $ 152,000     $ –  
    Acquisition of software and software licenses in accounts payable and accrued expenses   $ 51,741     $  –  
    Change in fair value of notes recorded in accumulated other comprehensive income   $ 22,023     $  –  

    The MIL Network –

  • MIL-OSI: Apache Corporation Tree Grant Program Opens U.S. Applications for 2025-2026 Planting Season

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, May 14, 2025 (GLOBE NEWSWIRE) — Apache Corporation, a subsidiary of APA Corporation (Nasdaq: APA), today announced the opening of applications for the Apache Corporation Tree Grant Program’s 2025-2026 planting season. To receive tree grants, applicants must be based in the United States.

    Since 2005, the program has partnered with more than 1,000 nonprofit organizations and government agencies across the company’s U.S. operating areas. In 2023, the program surpassed the significant milestone of donating more than 5 million trees to U.S. partners and expanded internationally launching a similar program in Scotland, where the company also operates.

    “We maintain a legacy of supporting land conservation through our environmental stewardship initiatives,” said John J. Christmann IV, Apache’s chief executive officer. “Our award-winning Tree Grant Program is a key part of this as we focus on enhancing public green spaces through reforestation and environmental education. We have worked with a range of partners over the last 20 years to support conservation efforts, whether it is to enrich neighborhoods, preserve natural habitats, or restock areas affected by natural disasters. Our team at Apache is honored to collaborate with our tree grant partners to create a more sustainable world for future generations.”

    The program is open to U.S.-based nonprofit organizations and government agencies in Texas and Louisiana. Grant recipients must request a minimum of 50 one-gallon, three-gallon or five-gallon trees per project or a minimum of 1,000 bareroot seedlings. Additionally, recipients must agree to receive all awarded trees in a single delivery and are required to provide ongoing care and maintenance of the trees. Grant awards will be announced Oct. 1, 2025, and all trees must be received and planted or distributed no later than May 31, 2026.

    Last season, Apache donated more than 134,000 trees to 52 nonprofit partner organizations in the U.S., including carbon mitigation efforts with Houston Wilderness, an alliance of business, environmental and government interests protecting the Gulf Coast ecoregion, and In Alpine, Texas, BBCA is a nonprofit organization that serves local wildlife by nurturing relationships within shared environments to create inclusive, equitable and just approaches to conservation with communities in the region. The company also partnered with TPWD has provided outdoor recreational opportunities by managing and protecting wildlife, parklands and historic areas that are essential to the natural and cultural resources of Texas.

    For more information and to apply to the 2025-2026 Apache Tree Grant Program, please visit www.apachelovestrees.com to submit an application by the July 13, 2025, deadline. To view the Apache Tree Grant Program video and learn more, click here.

    About Apache

    Apache Corporation, a wholly owned subsidiary of APA Corporation (Nasdaq: APA), is an oil and gas exploration and production company with operations in the United States, Egypt and the United Kingdom. Apache’s parent corporation, APA Corporation, posts announcements, operational updates, investor information and press releases on its websitewww.apacorp.com.

    About Apache Corporation Tree Grant Program

    Founded in 2005, the Apache Corporation Tree Grant Program is a philanthropic initiative of Apache Corporation that donates trees to nonprofits and government entities in the company’s operational areas. The program focuses on grants that support large-scale conservation, protection of habitats for wildlife and native species, as well as the restoration and enhancement of public greenspaces. This award-winning environmental stewardship initiative has provided more than 5 million trees to over 1,000 to qualified partners in the U.S. In addition to the development and improvement of public parks and greenspaces, community partners often request trees to support a broad range of conservation efforts, including preservation of natural habitats and reforestation. To learn more about the program, visit www.apachelovestrees.com.

    APA-T

    The MIL Network –

  • MIL-OSI USA: NASA’s Magellan Mission Reveals Possible Tectonic Activity on Venus

    Source: NASA

    Using archival data from the mission, launched in 1989, researchers have uncovered new evidence that tectonic activity may be deforming the planet’s surface.
    Vast, quasi-circular features on Venus’ surface may reveal that the planet has ongoing tectonics, according to new research based on data gathered more than 30 years ago by NASA’s Magellan mission. On Earth, the planet’s surface is continually renewed by the constant shifting and recycling of massive sections of crust, called tectonic plates, that float atop a viscous interior. Venus doesn’t have tectonic plates, but its surface is still being deformed by molten material from below.
    Seeking to better understand the underlying processes driving these deformations, the researchers studied a type of feature called a corona. Ranging in size from dozens to hundreds of miles across, a corona is most often thought to be the location where a plume of hot, buoyant material from the planet’s mantle rises, pushing against the lithosphere above. (The lithosphere includes the planet’s crust and the uppermost part of its mantle.) These structures are usually oval, with a concentric fracture system surrounding them. Hundreds of coronae are known to exist on Venus.
    Published in the journal Science Advances, the new study details newly discovered signs of activity at or beneath the surface shaping many of Venus’ coronae, features that may also provide a unique window into Earth’s past. The researchers found the evidence of this tectonic activity within data from NASA’s Magellan mission, which orbited Venus in the 1990s and gathered the most detailed gravity and topography data on the planet currently available.
    “Coronae are not found on Earth today; however, they may have existed when our planet was young and before plate tectonics had been established,” said the study’s lead author, Gael Cascioli, assistant research scientist at the University of Maryland, Baltimore County, and NASA’s Goddard Space Flight Center in Greenbelt, Maryland. “By combining gravity and topography data, this research has provided a new and important insight into the possible subsurface processes currently shaping the surface of Venus.”

    As members of NASA’s forthcoming VERITAS (Venus Emissivity, Radio science, InSAR, Topography, and Spectroscopy) mission, Cascioli and his team are particularly interested in the high-resolution gravity data the spacecraft will provide. Study coauthor Erwan Mazarico, also at Goddard, will co-lead the VERITAS gravity experiment when the mission launches no earlier than 2031.
    Mystery Coronae
    Managed by NASA’s Jet Propulsion Laboratory in Southern California, Magellan used its radar system to see through Venus’ thick atmosphere and map the topography of its mountains and plains. Of the geological features the spacecraft mapped, coronae were perhaps the most enigmatic: It wasn’t clear how they formed. In the years since, scientists have found many coronae in locations where the planet’s lithosphere is thin and heat flow is high.
    “Coronae are abundant on Venus. They are very large features, and people have proposed different theories over the years as to how they formed,” said coauthor Anna Gülcher, Earth and planetary scientist at the University of Bern in Switzerland. “The most exciting thing for our study is that we can now say there are most likely various and ongoing active processes driving their formation. We believe these same processes may have occurred early in Earth’s history.”
    The researchers developed sophisticated 3D geodynamic models that demonstrate various formation scenarios for plume-induced coronae and compared them with the combined gravity and topography data from Magellan. The gravity data proved crucial in helping the researchers detect less dense, hot, and buoyant plumes under the surface — information that couldn’t be discerned from topography data alone. Of the 75 coronae studied, 52 appear to have buoyant mantle material beneath them that is likely driving tectonic processes.
    One key process is subduction: On Earth, it happens when the edge of one tectonic plate is driven beneath the adjacent plate. Friction between the plates can generate earthquakes, and as the old rocky material dives into the hot mantle, the rock melts and is recycled back to the surface via volcanic vents.

    On Venus, a different kind of subduction is thought to occur around the perimeter of some coronae. In this scenario, as a buoyant plume of hot rock in the mantle pushes upward into the lithosphere, surface material rises and spreads outward, colliding with surrounding surface material and pushing that material downward into the mantle.
    Another tectonic process known as lithospheric dripping could also be present, where dense accumulations of comparatively cool material sink from the lithosphere into the hot mantle. The researchers also identify several places where a third process may be taking place: A plume of molten rock beneath a thicker part of the lithosphere potentially drives volcanism above it.
    Deciphering Venus
    This work marks the latest instance of scientists returning to Magellan data to find that Venus exhibits geologic processes that are more Earth-like than originally thought. Recently, researchers were able to spot erupting volcanoes, including vast lava flows that vented from Maat Mons, Sif Mons, and Eistla Regio in radar images from the orbiter.
    While those images provided direct evidence of volcanic action, the authors of the new study will need sharper resolution to draw a complete picture about the tectonic processes driving corona formation. “The VERITAS gravity maps of Venus will boost the resolution by at least a factor of two to four, depending on location — a level of detail that could revolutionize our understanding of Venus’ geology and implications for early Earth,” said study coauthor Suzanne Smrekar, a planetary scientist at JPL and principal investigator for VERITAS.
    Managed by JPL, VERITAS will use a synthetic aperture radar to create 3D global maps and a near-infrared spectrometer to figure out what the surface of Venus is made of.  Using its radio tracking system, the spacecraft will also measure the planet’s gravitational field to determine the structure of Venus’ interior. All of these instruments will help pinpoint areas of activity on the surface.
    For more information about NASA’s VERITAS mission, visit:

    VERITAS

    News Media Contacts
    Ian J. O’NeillJet Propulsion Laboratory, Pasadena, Calif.818-354-2649ian.j.oneill@jpl.nasa.gov
    Karen Fox / Molly WasserNASA Headquarters, Washington202-358-1600karen.c.fox@nasa.gov / molly.l.wasser@nasa.gov
    2025-068

    MIL OSI USA News –

  • MIL-OSI USA: NASA Glenn Hosts Slovenian Delegation and Ohio Governor’s Office

    Source: NASA

    NASA’s Glenn Research Center in Cleveland hosted a delegation of Slovenian government officials and representatives from the Ohio Governor’s Office on April 11. NASA Glenn leadership provided the group with an overview of the center’s vital role within the agency. The delegation also visited key space-related and aeronautics facilities, including tours of the Zero Gravity Research Facility, Simulated Lunar Operations Laboratory, and Icing Research Tunnel. 
    Republic of Slovenia Minister of Defense Borut Sajovic and Ambassador of the Republic of Slovenia to the United States Iztok Mirosic headed the delegation. Joe Zeis, who is the senior advisor for Aerospace and Defense for the Office of the Governor, and Tobias Engel, who is with the Ohio Department of Development International Affairs, also attended. 

    The Slovenia Space Office — under the Ministry of the Economy, Industry, and Sport — coordinates Slovenia’s space activities within ESA (European Space Agency). Slovenia recently became a member state of ESA, enabling more international opportunities for Slovenian scientists and engineers. Last year, Slovenia joined the Artemis Accords, which provides a common set of principles to enhance the governance of the civil exploration and use of outer space, as the 39th participant.  

    MIL OSI USA News –

  • MIL-OSI Security: Long-Time Fugitive Extradited to the United States to Face Charges for Orchestrating Mail Fraud Scheme Defrauding Elderly and Vulnerable Victims of Over $10 Million

    Source: Office of United States Attorneys

    NEWARK, N.J. – A German man was extradited from Italy and arrested for orchestrating a massive mail fraud scheme targeting elderly and otherwise vulnerable victims with false and fraudulent psychic solicitations, U.S. Attorney Alina Habba announced.

    Georg Ingenbleek, 58, a citizen of Germany, was indicted in 2020 and has been a fugitive. He was apprehended in Bolzano, Italy in 2024 and returned yesterday via Newark International Airport to face an indictment charging him with two counts of mail fraud. Ingenbleek made his initial appearance and arraignment on May 9, 2025, before U.S. Magistrate Judge Leda Dunn Wettre. He pleaded not guilty and was remanded without bail.

    According to the Indictment and statements made in court:

    From at least 2011 through 2016, Ingenbleek created numerous direct mail solicitations supposedly from world-renowned psychics, falsely and fraudulently claiming that the recipients were being contacted because they had been the subject of specific visions by the psychics, including visions that the recipients were going to receive large sums of money and good fortune. Many of the letters falsely promised that the psychic services being offered were free of charge. In fact, the letters were mass-produced using software and information provided by Ingenbleek to a direct mail marketing services company, Company-1, located in Piscataway, New Jersey, which Ingenbleek retained to print and mail the solicitations.

    Ingenbleek directed a second company, Company-2, to send fraudulent billing notices to the same victims that stated that the victims owed money for psychic services, which in many cases had been offered free of charge. The fraudulent billing notices were labeled “collection notices” and “invoices,” falsely representing that the victims owed late payment fees, and falsely stating that a psychic or astrology organization would refer the victim to a “collection agency” and take legal action if the victim did not send a check, usually for $20 to $50. Through his fraudulent psychic mailing campaign, Ingenbleek obtained more than $10 million dollars from victims.

    In September 2016, Ingenbleek directed representatives of Company-1 and Company-2 to destroy all materials related to his fraudulent psychic mailings in response to federal criminal investigations into his conduct and the conduct of other participants in the scheme. In one email, dated September 23, 2016, Ingenbleek told a representative of Company-2, “You cannot wait! I advise you urgently to get rid of the material! Use your own car, rent a truck, start today, work all weekend.”

    The mail fraud charges each carry a maximum potential penalty of 20 years in prison and a $250,000 fine, or twice the gross gain or loss from the offense.

    U.S. Attorney Habba credited postal inspectors of the U.S. Postal Inspection Service Philadelphia Division, under the direction of Inspector in Charge Christopher A. Nielsen; special agents of IRS – Criminal Investigation Newark Field Office, under the direction of Special Agent in Charge Jenifer Piovesan; and special agents of HSI New York, under the direction of Acting Special Agent in Charge Michael Alfonzo, with the investigation leading to the charges, and HSI Rome and the Justice Department’s Office of International Affairs for providing significant assistance in securing the defendant’s extradition from Italy.

    The government is represented by Assistant United States Attorneys Jonathan Fayer and Olta Bejleri of the Economic Crimes Unit in Newark.

    The charges and allegations in the indictment are merely accusations, and the defendant is presumed innocent unless and until proven guilty.

    ###

    Defense counsel: Daniel Rashbaum, Esq., Miami, Florida.

    MIL Security OSI –

  • MIL-OSI USA: NASA to Participate in Next Private Astronaut Mission Teleconference

    Source: NASA

    NASA will join a media teleconference hosted by Axiom Space at 10:30 a.m. EDT, Tuesday, May 20, to discuss the launch of Axiom Mission 4 (Ax-4), the fourth private astronaut mission to the International Space Station.
    Briefing participants include:

    Dana Weigel, manager, International Space Station Program, NASA
    Allen Flynt, chief of mission services, Axiom Space
    Sarah Walker, director, Dragon mission management, SpaceX
    Sergio Palumberi, mission manager, ESA (European Space Agency)
    Aleksandra Bukała, project manager, head of strategy and international cooperation, POLSA (Polish Space Agency)
    Orsolya Ferencz, ministerial commissioner of space research, HUNOR (Hungarian to Orbit)

    To join the call, media must register with Axiom Space by 12 p.m., Monday, May 19, at:
    https://bit.ly/437SAAh
    The Ax-4 launch aboard a SpaceX Dragon spacecraft on the company’s Falcon 9 rocket is targeted no earlier than 9:11 a.m., Sunday, June 8, from NASA’s Kennedy Space Center in Florida.
    During the mission aboard the space station, a four-person multi-national crew will complete about 60 research experiments developed for microgravity in collaboration with organizations across the globe.
    Peggy Whitson, former NASA astronaut and director of human spaceflight at Axiom Space, will command the commercial mission, while ISRO astronaut Shubhanshu Shukla will serve as pilot. The two mission specialists are ESA project astronaut Sławosz Uznański-Wiśniewski of Poland and Tibor Kapu of Hungary.
    The first private astronaut mission to the station, Axiom Mission 1, lifted off in April 2022 for a 17-day mission aboard the orbiting laboratory. The second private astronaut mission to the station, Axiom Mission 2, also was commanded by Whitson and launched in May 2023 for eight days in orbit. The most recent private astronaut mission, Axiom Mission 3, launched in January 2024; the crew spent 18 days docked to the space station.
    The International Space Station is a springboard for developing a low Earth economy. NASA’s goal is to achieve a strong economy off the Earth where the agency can purchase services as one of many customers to meet its science and research objectives in microgravity. NASA’s commercial strategy for low Earth orbit provides the government with reliable and safe services at a lower cost, enabling the agency to focus on Artemis missions to the Moon in preparation for Mars while also continuing to use low Earth orbit as a training and proving ground for those deep space missions.
    Learn more about NASA’s commercial space strategy at:
    https://www.nasa.gov/commercial-space
    -end-
    Claire O’SheaHeadquarters, Washington202-358-1100claire.a.o’shea@nasa.gov
    Anna SchneiderJohnson Space Center, Houston281-483-5111anna.c.schneider@nasa.gov
    Alexis DeJarnetteAxiom Space, Houstonalexis@axiomspace.com

    MIL OSI USA News –

  • MIL-OSI USA: NASA Observes First Visible-light Auroras at Mars

    Source: NASA

    On March 15, 2024, near the peak of the current solar cycle, the Sun produced a solar flare and an accompanying coronal mass ejection (CME), a massive explosion of gas and magnetic energy that carries with it large amounts of solar energetic particles. This solar activity led to stunning auroras across the solar system, including at Mars, where NASA’s Perseverance Mars rover made history by detecting them for the first time from the surface of another planet.

    “This exciting discovery opens up new possibilities for auroral research and confirms that auroras could be visible to future astronauts on Mars’ surface.” said Elise Knutsen, a postdoctoral researcher at the University of Oslo in Norway and lead author of the Science Advances study, which reported the detection.
    Picking the right aurora
    On Earth, auroras form when solar particles interact with the global magnetic field, funneling them to the poles where they collide with atmospheric gases and emit light. The most common color, green, is caused by excited oxygen atoms emitting light at a wavelength of 557.7 nanometers. For years, scientists have theorized that green light auroras could also exist on Mars but suggested they would be much fainter and harder to capture than the green auroras we see on Earth.
    Due to the Red Planet’s lack of a global magnetic field, Mars has different types of auroras than those we have on Earth. One of these is solar energetic particle (SEP) auroras, which NASA’s MAVEN (Mars Atmosphere and Volatile EvolutioN) mission discovered in 2014. These occur when super-energetic particles from the Sun hit the Martian atmosphere, causing a reaction that makes the atmosphere glow across the whole night sky.
    While MAVEN had observed SEP auroras in ultraviolet light from orbit, this phenomenon had never been observed in visible light from the ground. Since SEPs typically occur during solar storms, which increase during solar maximum, Knutsen and her team set their sights on capturing visible images and spectra of SEP aurora from Mars’ surface at the peak of the Sun’s current solar cycle.
    Coordinating the picture-perfect moment
    Through modeling, Knutsen and her team determined the optimal angle for the Perseverance rover’s SuperCam spectrometer and Mastcam-Z camera to successfully observe the SEP aurora in visible light. With this observation strategy in place, it all came down to the timing and understanding of CMEs.
    “The trick was to pick a good CME, one that would accelerate and inject many charged particles into Mars’ atmosphere,” said Knutsen.
    That is where the teams at NASA’s Moon to Mars (M2M) Space Weather Analysis Office and the Community Coordinated Modeling Center (CCMC), both located at NASA’s Goddard Space Flight Center in Greenbelt, Maryland, came in. The M2M team provides real-time analysis of solar eruptions to the CCMC for initiating simulations of CMEs to determine if they might impact current NASA missions. When the simulations suggest potential impacts, the team sends out an alert.
    At the University of California, Berkeley, space physicist Christina Lee received an alert from the M2M office about the March 15, 2024, CME. Lee, a member of the MAVEN mission team who serves as the space weather lead, determined there was a notable solar storm heading toward the Red Planet,which could arrive in a few days. She immediately issued the Mars Space Weather Alert Notification to currently operating Mars missions.
    “This allows the science teams of Perseverance and MAVEN to anticipate impacts of interplanetary CMEs and the associated SEPs,” said Lee.
    “When we saw the strength of this one,” Knutsen said, “we estimated it could trigger aurora bright enough for our instruments to detect.”
    A few days later, the CME impacted Mars, providing a lightshow for the rover to capture, showing the aurora to be nearly uniform across the sky at an emission wavelength of exactly 557.7 nm. To confirm the presence of SEPs during the aurora observation, the team looked to MAVEN’s SEP instrument, which was additionally corroborated by data from ESA’s (European Space Agency) Mars Express mission. Data from both missions confirmed that the rover team had managed to successfully catch a glimpse of the phenomenon in the very narrow time window available.
    “This was a fantastic example of cross-mission coordination. We all worked together quickly to facilitate this observation and are thrilled to have finally gotten a sneak peek of what astronauts will be able to see there some day,” said Shannon Curry, MAVEN principal investigator and research scientist at the Laboratory for Atmospheric and Space Physics (LASP) at the University of Colorado Boulder (CU Boulder).
    The future of aurora on Mars
    By coordinating the Perseverance observations with measurements from MAVEN’s SEP instrument, the teams could help each other determine that the observed 557.7 nm emission came from solar energetic particles. Since this is the same emission line as the green aurora on Earth, it is likely that future Martian astronauts would be able to see this type of aurora.
    “Perseverance’s observations of the visible-light aurora confirm a new way to study these phenomena that’s complementary to what we can observe with our Mars orbiters,” said Katie Stack Morgan, acting project scientist for Perseverance at NASA’s Jet Propulsion Laboratory in Southern California. “A better understanding of auroras and the conditions around Mars that lead to their formation are especially important as we prepare to send human explorers there safely.”

    More About Perseverance and MAVEN
    The Mars 2020 Perseverance mission is part of NASA’s Mars Exploration Program portfolio and NASA’s Moon to Mars exploration approach, which includes Artemis missions to the Moon that will help prepare for human exploration of the Red Planet. NASA’s Jet Propulsion Laboratory, which is managed for the agency by Caltech, built and manages operations of the Perseverance rover.
    The MAVEN mission, also part of NASA’s Mars Exploration Program portfolio, is led by LASP at CU Boulder. It’s managed by NASA’s Goddard Space Flight Center and was built and operated by Lockheed Martin Space, with navigation and network support from NASA’s JPL.
    —
    By Willow ReedLaboratory for Atmospheric and Space Physics (LASP), University of Colorado Boulder
    Media Contact: 
    Karen Fox / Molly Wasser
    Headquarters, Washington
    202-358-1600
    karen.c.fox@nasa.gov / molly.l.wasser@nasa.gov  
    Nancy N. JonesNASA’s Goddard Space Flight Center, Greenbelt, Md.
    DC AgleJet Propulsion Laboratory, Pasadena, Calif.818-393-9011agle@jpl.nasa.gov

    MIL OSI USA News –

  • MIL-OSI USA: Atlanta Attorney Sentenced in Syndicated Conservation Easement Tax Scheme

    Source: US State of California

    A Georgia attorney was sentenced today to 16 months in prison for obstructing the IRS in connection with his participation in the promotion of abusive syndicated conservation easement tax shelters.

    The following is according to court documents and statements made in court: Vi Bui was an attorney and partner at Sinnott & Co., an Atlanta-based company. Beginning at least in 2012 and continuing through at least May 2020, Bui participated in a scheme to defraud the IRS by organizing, marketing, implementing, and selling illegal syndicated conservation easement tax shelters created and organized by co-conspirators Jack Fisher, James Sinnott, and others. Fisher and Sinnott were convicted at trial for their involvement in the scheme, and in January 2024, they were sentenced to 25 and 23 years in prison, respectively.

    The scheme entailed the creation of partnerships that purchased land and land-owning companies and then donated conservation easements over that land or the land itself. Appraisers generated fraudulent and inflated appraisals of the conservation easements. The partnerships then claimed a charitable contribution tax deduction based on the inflated value of the conservation easement, resulting in a fraudulent tax deduction flowing to the wealthy clients who purchased units in the partnership. Many of these clients joined the tax shelters after the donation of the interest in land and after the end of the relevant tax year. Bui knew that in order to make it appear that the participants had timely purchased their units in the tax shelters, Fisher, Sinnott, and others backdated and instructed others to backdate documents, including subscription agreements, checks, and other documents.

    Bui anticipated that the syndicated conservation easement transactions would be audited. In order to deceive the IRS, Bui and others took steps to make the partnerships appear as legitimate real estate development companies. They created and disseminated lengthy documents disguising the true nature of the transaction, instituted sham “votes” for what to do with the land that the partnership owned despite knowing that outcome was predetermined, and falsified paperwork such as appraisals and subscription agreements.

    In one instance, when investigators conducted an undercover operation in 2018, Bui, believing that the IRS was auditing an individual’s tax returns, prepared false documents related to a 2014 syndicated conservation easement tax shelter with the intent to make it appear that the documents were executed before the purported donation of the conservation easement in 2014 and before the 2014 tax returns had been filed.

    Bui earned substantial income for his role in the illegal scheme. He also used the fraudulent tax shelters to evade his own taxes, filing false personal tax returns from 2013 through 2018 that claimed false tax deductions from the illegal syndicated conservation easement tax shelters.

    In addition to his prison sentence, U.S. District Court Chief Judge Timothy C. Batten Sr. for the Northern District of Georgia ordered Bui to serve one year of supervised release and to pay $8,250,244 in total restitution to the IRS.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division and U.S. Attorney Theodore S. Hertzberg for the Northern District of Georgia made the announcement. They also thanked the U.S. Attorney’s Office for the Western District of North Carolina for their assistance in the investigation of this matter.

    IRS Criminal Investigation and the U.S. Postal Inspection Service investigated the case.

    Senior Litigation Counsel Richard M. Rolwing, and Trial Attorneys Parker Tobin, Jessica Kraft, and Nicholas Schilling of the Tax Division prosecuted the case, with support from Assistant U.S. Attorney Samir Kaushal for the Northern District of Georgia. 

    MIL OSI USA News –

  • MIL-OSI United Kingdom: New Lord Mayor of Westminster Elected at Full Council | Westminster City Council

    Source: City of Westminster

    Councillor Paul Dimoldenberg has been elected the new Right Worshipful Lord Mayor of Westminster following a vote at Full Council tonight (14th May).

    Speaking at the Mayor Making event held at Marylebone Town Hall, Cllr Dimoldenberg said:

    It is a huge honour and a privilege to serve as Lord Mayor; the culmination of my political career. We are lucky that so many different communities call Westminster their home and it will be a privilege to represent them all as their First Citizen. I hope during my time as Lord Mayor, I can meet as many people and communities as possible in all parts of Westminster”.

    Cllr Dimoldenberg has represented Hyde Park Ward since May 2022. He was first elected to Westminster City Council to represent Harrow Road Ward from 1982 to 1990 and was later elected to represent Queen’s Park Ward from 1997 to 2022. From 2022 to 2025, he was Cabinet Member for City Management and Air Quality, having previously been the Opposition’s City Management spokesperson. He was also the Leader of the Opposition from 1987-1990 and from 2004-2015, and has served on a wide range of committees, including as Chair of the Education Overview and Scrutiny Committee.

    He has chosen two charities to support throughout the year. These are the Avenues Youth Project a youth centre in Queens Park and Hotel School who provide training in the hospitality industry to those who have experienced homelessness. His chosen consorts for the mayoral year will be his wife Linda and two daughters, Amelia and Zoe. 

    Upon election, the new Lord Mayor said:

    I chose the Avenues Youth Project as one of my charities as I have known the organisation for over 25 years and am a strong supporter of the great work they do with young people in North Paddington.”

    “Hotel School is my other charity choice. I heard the founder, Jeremy Goring, give an inspirational talk about the practical ways in which Hotel School helps homeless and other vulnerable people learn the skills to build a career in the hospitality industry.”

    In his spare time, the Lord Mayor enjoys going to the cinema and theatre, watching Manchester United, and listening to jazz and brass band music. An avid historian, the new Lord Mayor has written five books on British and local Westminster political history. Born in Manchester, he moved to Westminster in 1973 and has been involved in Westminster politics ever since.

    During his term, he plans to be ‘the walking Lord Mayor’ with a programme of walks promoting environmental and personal wellbeing and encouraging residents to explore and learn more about their local area.

    At the special Full Council service, the Lord Mayor presented Cllr Robert Rigby with an illuminated Vote of Thanks together with a past Lord Mayor’s badge and a past Lady Mayoress badge to Emiko Murai Rigby.

    MIL OSI United Kingdom –

  • MIL-OSI Russia: CPPCC National Committee Chairman Meets Zimbabwe National Assembly Speaker

    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

    BEIJING, May 14 (Xinhua) — Wang Huning, chairman of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), met with Jacob Mudenda, speaker of the National Assembly (lower house) of Zimbabwe, in Beijing on Wednesday.

    Wang Huning, also a member of the Standing Committee of the Political Bureau of the CPC Central Committee, said the in-depth and friendly communication between Chinese President Xi Jinping and Zimbabwean President Emmerson Mnangagwa in Beijing last year provided strategic guidance for the development of bilateral relations.

    The CPPCC National Committee chairman said China is willing to work with Zimbabwe to strengthen political mutual trust, expand practical cooperation and build a high-level China-Zimbabwe community with a shared future, guided by the important consensus reached by the leaders of the two countries.

    The CPPCC National Committee intends to make its contribution to the development of bilateral relations, he added.

    J. Mudenda, for his part, stressed that Zimbabwe firmly adheres to the one-China principle and hopes that the two sides will continuously strengthen exchanges at all levels, including government and non-governmental exchanges, and deepen cooperation in areas such as energy, culture and the digital economy.

    The Zimbabwe National Assembly is ready to strengthen friendly ties with the CPPCC, promoting the socio-economic development of both countries, said J. Mudenda. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Member of the Standing Committee of the Politburo of the CPC Central Committee met with the Mongolian delegation

    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

    BEIJING, May 14 (Xinhua) — Cai Qi, a member of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee and a member of the Secretariat of the CPC Central Committee, met with a Mongolian delegation led by General Secretary of the Mongolian People’s Party (MPP) Yangugiin Sodbaatar in Beijing on Wednesday.

    Cai Qi said that the Chinese side is ready to strengthen exchanges and dialogue between the ruling parties of China and Mongolia, deepen strategic mutual trust and develop practical cooperation in various fields.

    He called on the parties to expand friendly exchanges between peoples, especially between young people, enhance mutual learning in party building, and jointly uphold international fairness and justice.

    Y. Sodbaatar, in turn, noted that the comprehensive strategic partnership between Mongolia and China has become a model of relations between neighboring countries. He emphasized that the development of long-term good-neighborly and friendly relations with China is a priority of Mongolia’s foreign policy.

    Mongolia is ready to use the role of political parties to deepen mutual trust and align development strategies between the two countries, added Y. Sodbaatar. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Leaders of Belarus and Zimbabwe sign roadmap for strategic cooperation and partnership for 2026-2030

    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 14 (Xinhua) — Belarusian President Alexander Lukashenko and Zimbabwean President Emmerson Mnangagwa signed a roadmap for strategic cooperation and partnership for 2026-2030 following talks in Minsk on Wednesday, the press service of the Belarusian head of state reported.

    A. Lukashenko stated that the signed package of bilateral documents, based on the roadmap, takes into account all key joint projects in various areas. According to the Belarusian leader, the parties held very intensive and productive negotiations.

    “We discussed a wide range of issues, reviewed how the agreements already reached are being implemented, including during the visit to Zimbabwe two years ago. We identified new joint projects. At the same time, we paid special attention to the development of promising areas, including interregional interaction and industrial cooperation,” A. Lukashenko said and added that thanks to the support of the Zimbabwean leader, the two countries will more actively increase trade turnover, create joint promising production, and open new markets both in Africa and Eurasia.

    A. Lukashenko noted that Belarus is ready to assist Zimbabwe in creating a comprehensive healthcare system, supplying medical products and special equipment from Belarus. The Belarusian leader drew attention to the fact that his country can also become a reliable partner of Zimbabwe in the implementation of modern waste processing technologies, digitalization, peaceful use of nuclear energy, and cooperation in space exploration.

    In turn, E. Mnangagwa emphasized that the two countries have achieved success in bilateral cooperation. “The progress and growth that we are seeing in bilateral relations brings us satisfaction. We have indeed achieved success. However, there is a need to use these successes to move forward,” the President of Zimbabwe said.

    He stressed that Belarus had made a huge contribution to Zimbabwe’s agricultural mechanization program and food security. “We are ready to continue to mechanize and modernize our dairy industry with the support of our Belarusian partners. Zimbabwe is keen to make progress in cooperation on machinery production, as we will benefit greatly from this. At the same time, I believe the Belarusian economy can also benefit from this, because it will be present in Africa,” the Zimbabwean leader added. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: In Belarus, the profitability of sold products and services for the three months since the beginning of 2025 amounted to 7.6 percent.

    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 14 (Xinhua) — In Belarus, for the period from January to March 2025, the profitability of sold products, goods, works and services amounted to 7.6 percent, and the profitability of sales was 6.2 percent. The relevant information was published on Wednesday by the Belarusian National Statistical Committee.

    Accounts receivable as of April 1 amounted to 92.5 billion Belarusian rubles /1 US dollar equals 3.01 Belarusian rubles/, including overdue accounts – 10.4 billion Belarusian rubles, or 11.2 percent of the total accounts receivable.

    Accounts payable as of April 1 amounted to 111.8 billion Belarusian rubles, including overdue accounts of 11.9 billion Belarusian rubles, or 10.7 percent of the total accounts payable.

    The data are presented without banks, non-bank credit and financial institutions, insurance organizations, budgetary organizations, organizations without departmental subordination with an average number of employees for the previous year of less than 50 people /with the exception of organizations that are members of holdings/. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Mongolia’s foreign trade turnover fell by 6.7 percent in the first four months of 2025.

    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

    ULAN BATOR, May 14 (Xinhua) — Mongolia’s foreign trade turnover fell 6.7 percent to $7.8 billion in the first four months of 2025, the country’s National Statistical Committee said Wednesday.

    During the specified period, exports from Mongolia decreased by 14.1 percent, amounting to $4.2 billion. Meanwhile, imports increased by 3.9 percent, reaching $3.6 billion.

    The decline in exports was mainly due to a reduction in supplies of coal, crude oil, iron ore and combed cashmere from Mongolia to foreign countries. –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Released lists shed light on Japanese germ warfare units’ activities in China

    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

    TOKYO, May 14 (Xinhua) — The National Archives of Japan on Wednesday released lists of personnel of three biological warfare units of the Imperial Japanese Army.

    The documents contain detailed personal information on members of Units 1644, 8604 and 8609, including names, dates of birth, family register details, addresses and assignment details.

    These lists, originally under the control of the Ministry of Health, Labor and Welfare, were transferred to the National Archives in March 2024 and were included in the list of documents to be released to the public in March 2025.

    The documents were released at the request of researchers, including renowned bacteriological warfare expert and professor emeritus at the Shiga Prefectural University of Medical Sciences, Katsuo Nishiyama.

    Kazuo Nishiyama said Wednesday that the discovery of the lists disproves previous claims that the germ warfare units existed.

    During the invasion of China, the Japanese army formed several biological warfare units, including the infamous “Unit 731.” –0–

    MIL OSI Russia News –

  • MIL-OSI Russia: Head of the Propaganda Department of the CPC Central Committee Visits Morocco

    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

    RABAT, May 14 (Xinhua) — Li Shulei, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and director of the Publicity Department of the CPC Central Committee, led a CPC delegation to Morocco from May 12 to 14 at the invitation of the National Rally of Independents (NRII) Party.

    During the visit, Li Shulei held separate meetings with senior Moroccan officials, including Prime Minister and PON Chairman Aziz Ahannouch, Speaker of the House of Representatives (lower house of parliament) Rachid al-Talbi Alami, Minister of Youth, Culture and Communication Mohamed Mehdi Bensaid, Minister of Equipment and Water Resources Nizar Baraka, and held talks with leaders of other major Moroccan political parties.

    Li Shulei noted that under the strategic guidance of the two heads of state, China-Morocco relations have developed rapidly and are enjoying the best period in history. He said China is willing to work with Morocco to implement the important consensus reached by the two leaders, strengthen political mutual trust, deepen strategic interaction, expand mutual learning between civilizations, and jointly advocate an equal and orderly multipolar world and an inclusive economic globalization that benefits everyone.

    The head of the Publicity Department of the CPC Central Committee called for promoting high-quality joint construction of the Belt and Road for the benefit of the two countries and their peoples, and making China-Morocco cultural and humanitarian exchanges and cooperation a model for implementing the Global Civilization Initiative.

    Li Shulei added that the CPC hopes to deepen exchanges of governance experience with friendly political parties in Morocco to promote the further development of the China-Morocco strategic partnership through inter-party channels.

    Representatives of the Moroccan side, in turn, stated that King Mohammed VI and the Moroccan government attach great importance to the development of relations with China and are ready to further advance practical cooperation in such areas as infrastructure construction, new energy sources and investment, strengthen exchanges at all levels, constantly enriching the content of the strategic partnership between the two countries.

    In addition, Moroccan political parties expressed their willingness to deepen dialogue with the CPC, strengthen the exchange of ideas and experiences in order to more effectively promote the development of bilateral ties. –0–

    MIL OSI Russia News –

  • MIL-OSI Video: Greece on women, peace and security in Yemen | Security Council Stakeout | United Nations

    Source: United Nations (Video News)

    Joint statement delivered by Ambassador Evangelos Sekeris, Permanent Representative of Greece to the United Nations, on behalf of the signatories of the Shared Commitments on Women, Peace and Security, on the situation of women in Yemen, at the Security Council Stakeout.

    https://www.youtube.com/watch?v=KT9pJkoGfVU

    MIL OSI Video –

  • MIL-OSI Video: Secretary-General/Peacekeeping, Yemen & 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/peacekeeping
    Peacekeeping ministerial meeting
    Yemen
    Security Council
    Occupied Palestinian Territory
    Lebanon
    Syria
    Syria returnees
    Deputy Secretary-General/trip announcement
    Somalia
    Haiti
    José “Pepe” Mujica
    Noon briefing guests – tomorrow
    Noon briefing guest – Andrew Saberton

    SECRETARY-GENERAL/PEACEKEEPING
    The Secretary-General is continuing his meetings in Berlin. As you know, he is in Berlin to attend the Ministerial Meeting on Peacekeeping. Right now, he is meeting with Friedrich Merz, Federal Chancellor of Germany and they are just starting a press stakeout.
    Earlier today, he said that he is heartened by the exceptional turn-out of Ministers from across the globe, representing the full range of peacekeeping partners. Just to let you know that we have an update that more than 130 Member States were present and 74 Member States made pledges to support peace operations.
    The Secretary-General added that this meeting comes at a time when unfortunately, peacekeeping operations are facing serious liquidity problems. He called on all Member States to respect their financial obligations, paying their contributions in full and on time.
    These remarks were made during a joint press conference with the Federal Minister for Foreign Affairs, Johann Wadephul, and Federal Minister of Defence, Boris Pistorius. He noted that he is especially pleased to be in Berlin so soon after the new Government took office, and he looks forward to building on our partnership in the time ahead.
    Mr. Guterres also met today with Ms. Reem Alabali-Radovan, Minister for Development and Economic Cooperation of Germany. Tomorrow, he is scheduled to hold discussions with Frank-Walter Steinmeier, the President of Germany, before he departs to Iraq to attend the League of Arab States Summit.  

    PEACEKEEPING MINISTERIAL MEETING 
    During the Peacekeeping Ministerial in Berlin, the United Nations unveiled a new multi-year initiative funded by the Federal Republic of Germany to provide women troops deployed in Peace Operations with gender-specific protective gear, including ballistic vests and helmets. During an award ceremony held earlier today during the Member States’ gathering, Nils Hilmer, State Secretary at the German Ministry of Defense and Atul Khare, Under-Secretary-General for Operational Support, announced the selection of Fiji, Guatemala, Kenya, Malawi, Malaysia, Mongolia and Tanzania, to receive the equipment – in recognition of their commitment to the Uniformed Gender Parity Strategy and the deployment of women in operational roles. The project, worth one million Euros in total, aims to enhance the performance, safety and security of women peacekeepers in complex and volatile mission environments and ultimately promote their participation in peacekeeping efforts.

    YEMEN
    Hans Grundberg, the Special Envoy for Yemen, briefed the Security Council this morning and welcomed the announcement on 6 May of a cessation of hostilities between the USA and Ansar Allah. He said that this step represents an important and necessary de-escalation in the Red Sea and in Yemen following the resumption, on 15 March, of US airstrikes against targets in Ansar Allah-controlled areas.
    He said that events in recent weeks, however, have also served as stark reminders that Yemen is ensnared in the wider regional tensions. The attack carried out by Ansar Allah on Ben Gurion Airport on 4 May, and the subsequent strikes by Israel on Hudaydah Port, Sana’a Airport, and other locations in response, represent a dangerous escalation, and the threats and attacks, regrettably, continue.
    Tom Fletcher, the Under-Secretary-General for Humanitarian Affairs, told Council members that the humanitarian situation is deteriorating, and those most in peril are the country’s children. Half of Yemen’s children – or 2.3 million – are malnourished, he said, and 600,000 of them are severely so.
    Mr. Fletcher warned that Yemen’s 2025 humanitarian response plan is barely 9 per cent funded – less than half of what we received at the same time last year. These shortfalls have very real consequences. He said that we expect pipeline gaps as early as June or July – right when malnutrition numbers will peak.  
    Mr. Grundberg will speak at the stakeout once he is done in the Council and we will let you know when that happens.

    Full Highlights:
    https://www.un.org/sg/en/content/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=14%20May%202025

    https://www.youtube.com/watch?v=EoV4ApxYiYE

    MIL OSI Video –

  • MIL-OSI Video: Peacekeeping: UN Chief urges stronger global support |Peacekeeping Ministerial 2025 | 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=L6sqSjouK68

    MIL OSI Video –