NewzIntel.com

Category: Finance

  • MIL-OSI USA: Attorney General James’ Office of Special Investigation Releases Report on Death of Elijah Muhammad

    Source: US State of New York

    NEW YORK – New York Attorney General Letitia James’ Office of Special Investigation (OSI) today released its report on the death of Elijah Muhammad, who died on July 10, 2022 while incarcerated in the George R. Vierno Center (GRVC) on Rikers Island. Following a comprehensive investigation, including review of Department of Correction (DOC) staff incident reports and security camera footage, witness interviews, and comprehensive legal analysis, OSI concluded that a prosecutor would not be able to prove beyond a reasonable doubt at trial that the correction officer staffed on Mr. Muhammad’s unit committed a crime, and therefore criminal charges would not be pursued.

    At 3:00 p.m. on July 10, 2022, the correction officer staffed on Mr. Muhammad’s unit witnessed Mr. Muhammad in a severely disoriented state. Mr. Muhammad appeared to have difficulty keeping his eyes open and standing upright, at one point slumping to the floor in a seated position. After being alerted by other incarcerated people in the housing unit, the correction officer held open Mr. Muhammad’s cell door while two incarcerated people helped him into his cell. However, in violation of DOC rules, the correction officer failed to call a medical emergency. He also failed to take any other action to assist Mr. Muhammad, such as administering Narcan.

    The correction officer continued to check on Mr. Muhammad periodically for two hours, until 5:13 p.m., sometimes stepping into Mr. Muhammad’s cell. The correction officer then did not check on Mr. Muhammad until 9:43 p.m.

    Other people housed in Mr. Muhammad’s unit continued to check on him throughout the evening. Beginning around 8:00 p.m., the incarcerated people who came to Mr. Muhammad’s door appeared to grow increasingly alarmed by what they saw through his cell window and began knocking on and kicking at his door. At 9:43 p.m., the correction officer went into Mr. Muhammad’s cell, where he found Mr. Muhammad unconscious, cold, and foaming at the nose. The officer recruited another correction officer to help, and together they moved Mr. Muhammad out of his cell and onto the ground to begin rendering aid. The correction officers called for medical staff, who then called for emergency medical services. Mr. Muhammad was declared dead in the housing unit at 10:30 p.m. The medical examiner found that the concentration of Fentanyl in Mr. Muhammad’s blood was a fatal dose.

    Following a preliminary assessment of the incident, OSI determined that the failure of the correction officer to call a medical emergency or provide immediate aid to Mr. Muhammad qualified as an omission, or failure to perform a duty imposed by law, which contributed to Mr. Muhammad’s death. Therefore, OSI conducted this investigation pursuant to Executive Law Section 70-b.

    Under New York law, proving criminally negligent homicide as an omission would require proving beyond a reasonable doubt, among other things, that the correction officer caused Mr. Muhammad’s death. In this case, the medical examiner determined that while providing Narcan when Mr. Muhammad was first observed in a disoriented state, or in the ensuing hours when the officer failed to check on Mr. Muhammad, might have increased his chance of survival, there is no guarantee that it would have saved his life. OSI concluded that although the correction officer’s failure to call a medical emergency or render aid contributed to his death, a prosecutor would not be able to prove beyond a reasonable doubt that this failure caused Mr. Muhammad’s death. 

    MIL OSI USA News –

  • MIL-OSI USA: Governor DeSantis Appoints Four to the Clay County Development Authority

    Source: US State of Florida

    TALLAHASSEE, Fla.—Today, Governor Ron DeSantis announced the appointment of Dennis “Rick” Dingle and Dell Hoard Sr. and the reappointment of Tina Clary and Tammy “Chereese” Stewart to the Clay County Development Authority.

    Dennis “Rick” Dingle
    Dingle is the Chief Administrative Officer for the Clay County Clerk of the Court and Comptroller’s Office. Active in his community, he currently serves as a member of the Florida Government Finance Officers Association. Dingle earned his bachelor’s degree in business administration from Flagler College and his master’s degree in business administration from the University of North Florida.

    Dell Hoard Sr.
    Hoard is the Owner of Grumpy’s Restaurant. Previously, he served as a Transportation Coordinator for Walmart Transportation Center. A lifelong resident of Clay County, Hoard attended St. Johns River State College.

    Tina Clary
    Clary is the Principal and Chief Executive Officer for Clary & Associates. Previously, she served as a member of the Florida Surveying and Mapping Society, the American Society of Highway Engineering, and the Clay County Chamber of Commerce. Clary earned her associate degree from Florida State College at Jacksonville.

    Tammy “Chereese” Stewart
    Stewart is the Assistant County Manager for the Clay County Board of County Commissioners. She was previously elected as a Clay County Commissioner and currently serves as a member of the Clay County Cattlemen Association, the Clay County Farm Bureau, and the Florida Planning and Zoning Association. Stewart earned her bachelor’s degree from Texas A&M University and her master’s degree in educational leadership and administration from the University of North Florida.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Governor Hochul Addresses Phones in Schools

    Source: US State of New York

    Earlier today, Governor Kathy Hochul delivered remarks on phones in schools at NYSUT’s “Disconnected” Conference in Albany.

    VIDEO of the event is available on YouTube here and in TV quality (h.264, mp4) format here.

    AUDIO of the Governor’s remarks is available here.

    PHOTOS of the event will be available on the Governor’s Flickr page.

    A rush transcript of the Governor’s remarks is available below:

    Thank you. Yes, this is an extraordinary gathering of people that we could not have foreseen. When we started to talk about this a year ago, a few enlightened people came forward, people like Melinda, but others were not so sure we could take on something so bold and audacious. But that’s right up my alley. I like to do that. The issues that others say are too hard to tackle and move on, I say, bring them on.

    But when I have allies like NYSUT and Melinda Person, and all the others gathered here, our school board members, our PTA, our school superintendents, our districts, our principals, parents – I can say there’s no stopping us.

    We could not have imagined, just a year ago, a day like today. Absolutely not. And to have so many people here willing to stand up and do what is right – I want to acknowledge some of my colleagues in government. I notice that Senator Shelley Mayer has joined us here, Senator Mayer. Assemblymember Pat Fahy has joined us, Pat Fahy. I saw Harvey Epstein here coming up from the city, Harvey, great to see you as well.

    The easiest thing in life is doing nothing. But when it comes to our kids on an issue like we’re talking about today, doing nothing is simply not an option. When I took office, I vowed change. I had seen that our mental health system here in the State of New York had languished from neglect. Forgotten. No one talked about it. But yet, New Yorkers were suffering. And you know who was suffering the most? Our kids.

    I can guarantee that every adult in this room does not wake up thinking about the pandemic anymore. COVID is in the rearview mirror for you. My friends, after listening to countless young people, it is still having an effect on their mental health today. What they went through for a year, a year and a half, two years, has profoundly impacted their quality of life and their well-being. We have to acknowledge that. We have to acknowledge that these kids are suffering.

    And I made a commitment to transform New York’s mental health system. And we do it, we don’t go halfway. We boosted funding by $1 billion to show our commitment. Investing in more psychiatric beds and services, and setting aside millions of dollars to help kids with programs: suicide prevention efforts, eating disorder care, peer to peer programs. But you know what was so important to me? Was the school-based mental health clinics that — when I was growing up, or my kids who are now adults were growing up — you wouldn’t have thought you needed. But today, we need them.

    And we listened to the kids, we listened to parents, and I could not ignore the trends that were emerging beyond the pandemic. What else was having such a detrimental effect on our kids’ mental health? And we learned that coinciding with the pandemic was the rise in addictive algorithms, intentionally designed by social media companies to grab your child, your student, and hold them — hold them captive.

    Every generation has struggles. I’m a former teenage girl. I know it’s not the easiest time in life. I raised a teenage girl. I’m still around to talk about it. And we’re very close now, okay? And none of this is news to you, but the parents and teachers of today are wrestling with something that is unprecedented. And you see this. All of you.

    I’m not telling you something that those of you who are in constant communication with our kids, our teachers, our administrators, our school boards, you know what I’m talking about. You are on the front lines. And I’m proud to stand shoulder to shoulder with NYSUT and educators to say that, first of all, we have to make sure there’s sufficient funding for our schools overall.

    We have increased school aid. We have increased school aid by over $5 billion in two years, the largest funding increase in history and fully funding Foundation Aid for the first time ever. Tier 6 retirement benefits there to help our teachers. Overhauling the reading curriculum.

    I listened to Melinda, I listened to Randi Weingarten, I listened to Mike Mulgrew about how we’re teaching in our schools, why we’re teaching reading, and phonics based on a system that was put in place 20 years ago and is not successful. So, I don’t mind reaching into the world and saying we can do better.

    All these investments have been made with one sole purpose: to do what’s best for our kids. But listen, there’s something else going on. What we had to do was address these algorithms aggressively because I’ll never forget one of the round tables I did locally with a number of high school students. They were describing to me what they were going through, and I felt as a mom, more than anything. My heart was breaking, because this young woman said to me, “We can’t put down the phones in schools. We can’t do it. You have to save us from ourselves.”

    This was a cry for help. It hits you right here when you’re a mom, you’re a parent, you’re a teacher who cares. You can’t ignore that. What she was referring to was the fact that she’d be ostracized. That she had to know that the kids were talking about what she was wearing that day or what she was saying, what she was doing in school or their meeting in the lavatory – she needed to be connected because if you weren’t, you were a social outcast. But just imagine a world where no one has the phone with them. No one is an outcast. No one has to worry about being bullied when they should be paying attention to their teacher in the front of the classroom. This is the world we’re talking about. The anxiety, the depression, the sadness that never seems to go away. I have close family members, I’m watching them, spiraling. They need help.

    So, we took on the social media companies. Not an easy task. I’ll tell you that right now, not for the faint of heart. But I said to them, with all these threats of litigation against us, you’re going to lose in court. Get out of the courtroom, and get into my conference room. We can work on this together. We don’t have to be adversarial, because I guarantee your corporate leadership, your CEOs, your employees also see what’s going on with the product you’re creating. And there must be limitations on this. Leave our children alone. Let them get some sleep at night. Don’t be bombarding them 24 hours a day with messaging that they did not ask for.

    That’s the whole nature of this. They’re taking information about your child, your student, and monetizing their mental health by bombarding them with advertising and messaging over and over again. They can go to social media sites if they want to. They can go to support groups. They can go where they want to go. But this is about them being on the receiving end of something they did not ask for.

    We changed the law. I thank our legislators. I thank Nily Rozic, I thank Andrew Gounardes, those two leaders for being champions and for standing with me and our Attorney General, Tish James. Last October we did a press conference with our teachers and everybody. And we said, we are going to make sure that New York leads. We’re going to be number one in the nation in terms of how far we are willing to go because the costs are so high if we do nothing. Online privacy – you should not be capturing information about our kids and selling it. You should not be hitting them during nighttime hours and parents should be able to be aware and turn off the addictive algorithms. You cannot send them this information anymore. And we got it through.

    The regulations being worked on and the rest of the nation is paying attention. Look at Instagram this past week. I’m not saying they went all the way. They have some more to do, but at least they took that step that everybody told me a year ago was impossible. “Wait, how will we ever know whether it’s someone under 18 or not? We don’t have the ability to do that. So, we cannot limit our activity with kids under 18.” I said, “Really? You’re tech companies, you know how to figure this out.” Surprise. They figured it out. And that’s what they did this week. I need others to do that.

    So, we’re looking at this. We’re looking at the Surgeon General report on how children are held captive. Three hours is dangerous, the average is five. I’m listening to teachers, 72 percent who say across the country this is a huge distraction. The teachers I met in person who said, “I’m in competition. I’m trying to teach, I’m trying to engage, make eye contact, have a relationship with these kids because that’s how I can create a bond. And they’re not even looking at me. I’m tired of this, this is getting too hard.”

    Those are direct quotes from teachers who want to do their jobs. We have to help them as well. So let me say this. We are doing something. We’re taking on the tech giants. They’re starting to come around. We need Washington to do more. You’ll hear more about that. And I thank Randi Weingarten for being a national leader on this and being our champion in Washington, D.C. Thank you, Randi. Thank you.

    But the cell phone in schools issue: I will tell you this, this has been an evolution for me personally. My kids were in middle school during Columbine, right? This is when you have that sense of security shaken to the core that something could happen to your child when they’re out of your watch. Something devastating. A shooting. A mass shooting. I was listening to a lot of people who thought that you need to have that connection all day long, just in case something happens. And I realized my first thought was wrong.

    When I listened to law enforcement who said, if there is a crisis on the school grounds, there is a shooter running loose. The last thing you want happening is for your child to be looking at their cell phone, maybe videoing, sending messages, trying to go viral, and not paying attention to the adult in the room who is trained to get them to safety.

    All I needed to hear was that from multiple members of law enforcement, and I said, you know what, you’re right. And I also want our kids to grow up free from this influence throughout the day. I can’t help what happens after hours, Mom and Dad, that’s up to all of you. We need to do more. We need to set the example as well. Let’s set the example as well.

    When it comes to the school day, I want our kids to be kids again. I want them to talk to each other in the hallways. I want them to yell and talk to each other in the schoolyard, I want them to communicate during lunchtime. I want them to develop the interpersonal relationships that are not occurring right now, because I’ve said this many times, our number one job is to raise adults, not raise kids. Our job is to raise adults, fully functioning adults who emerge from childhood with the social skills that they develop in school settings. They’re being denied that now, because the cell phone has taken over human interaction.

    We can stop this now. We can work with the kids who’ve already had to deal with the stress and the anxiety and all those pressures. We can help them, but wouldn’t it be fantastic to know that their younger siblings will enter a very different world, closer to our childhoods, when you went out and kicked a ball, you talked to someone on the phone for fun, you got together and went to the movies.

    Your world was not taken into a device. We owe that to our kids, my friends. We owe that to them. Let’s right the wrongs of the past, when nobody had the courage to stand up and say, this has gone too far. We do not have leaders, like Melinda Person and everybody in this room, say enough is enough. Let’s let our kids have a childhood free from this interference, this disruption.

    I guarantee they’ll be able to emerge fully functioning in technology, go to the tech jobs, all the opposition I’m hearing, I can find an answer and say, no, this is more important. My question is this: are you with me when it comes to saving our children right here and right now? Are you with me?

    MIL OSI USA News –

  • MIL-OSI USA: $5.4 Million For Urban Community Forestry

    Source: US State of New York

    Governor Kathy Hochul today announced an additional $5.4 million in grant awards for Urban and Community Forestry Grants funded through the Federal Inflation Reduction Act (IRA). The funding expands on $7.1 million awarded on July 25, increasing expected project outcomes and reach, and bringing the total amount awarded to $12.5 million. The awards support Governor Hochul’s 2024 State of the State initiative to plant 25 million trees by 2033, recent commitments through the Clean Water, Clean Air and Green Jobs Environmental Bond Act, and other New York State investments to expand tree canopy and cultivate greener, healthier communities.

    “Investing in community green space is a significant step towards revitalizing our cities and towns, and ensuring a sustainable, resilient future for all New Yorkers,” Governor Hochul said. “These investments will help to provide cleaner air and water to every corner of our state, and move us closer to achieving our climate goals.”

    Funded projects represent a collaborative effort between local governments, not-for-profit organizations, and community groups to create more equitable and resilient urban forests in the face of increased storms and extreme heat driven by climate change. Projects are focused in disadvantaged communities and include initiatives to engage with the public in tree planting and stewardship efforts, and increase tree canopy in public open space and along roadways. The efforts align with Governor Hochul’s broader conservation and environmental agenda, including enhancing existing open spaces and land preservation goals, supporting the state’s ambitious climate goals, and advancing environmental justice statewide.

    The grants are administered through the New York State Department of Environmental Conservation’s (DEC) Urban and Community Forestry program, which works to increase public awareness of the importance of trees and helps communities create healthy forests while enriching quality of life for residents.

    Funding for this grant is made available through the state allocation from the U.S. Department of Agriculture (USDA) Forest Service through the IRA. The USDA Forest Service is allocating this funding to support projects in disadvantaged communities to increase and maintain a healthy urban canopy and equitable access to trees and the benefits they provide. The Forest Service’s Urban and Community Forestry program authorizes funding for a broad range of activities, such as urban wood utilization, urban food forests, extreme heat mitigation and workforce development.

    New York State Department of Environmental Conservation Interim Commissioner Sean Mahar said, “Urban trees are more than just a touch of nature in our cities—they help mitigate extreme heat, improve air quality, and support public health. By enhancing green spaces in areas impacted by climate change and other environmental challenges, we cool streets and homes while improving the quality of life for all New Yorkers. Trees are an integral part of our urban landscapes and leave a legacy for future generations.”

    New York State is celebrating the 16th annual Climate Week from September 22-29, 2024. The projects included in this announcement support New York’s commitment to reduce greenhouse gas emissions, make communities more resilient, drive action to tackle climate change and advance environmental justice, ensure affordability as part of the clean energy transition, and create new jobs and opportunities for future generations.

    The 17 awarded projects receiving additional funding are listed below by region:

    Capital Region

    Albany County

    • City of Albany Department of General Services: $456,705 additional, for a total of $876,965; Community Forest Management Plan Implementation

    Greene County

    • Village of Athens: $237,335 additional, for a total of $577,968; Community Forest Management Plan Implementation

    Rensselaer County

    • City of Troy: $64,800 additional, for a total of $382,400; Community Forest Management Plan Implementation

    Central New York

    Onondaga County

    • City of Syracuse: $414,858 additional, for a total of $910,141; Community Forest Management Plan Implementation

    Finger Lakes

    Genesee County

    • City of Batavia: $306,218 additional, for a total of $758,950; Ash Tree Management in Disadvantaged Communities

    Monroe County

    • City of Rochester: $399,250 additional, for a total of $598,875; Community Forest Management Plan Implementation

    Mid-Hudson Valley

    Ulster County

    • City of Kingston: $240,824 additional, for a total of $732,375; Community Forest Management Plan Implementation

    Westchester

    • City of New Rochelle: $6,600 additional, for a total of $41,600; Ash Tree Management in Disadvantaged Communities

    New York City

    The Bronx

    • Woodlawn Conservancy Inc.: $727,962 additional, for a total of $1,201,354; Community Forest Management Plan Implementation
    • Natural Areas Conservancy Inc.: $467,510 additional, for a total of $862,168; Ash Tree Management in Disadvantaged Communities

    Brooklyn

    • Big Initiatives Incorporated: $843,709 additional, for a total of $1,251,166; Community Forest Management Plan Implementation – Stewardship of Street Trees
    • The Evergreens Cemetery Preservation Foundation: $415,000 additional, for a total of $915,000; Community Forest Management Plan Implementation

    Manhattan

    • The Green-Wood Cemetery: $100,000 additional, for a total of $598,035; Community Forest Management Plan Implementation
    • Randall’s Island Park Alliance Inc.: $353,520 additional, for a total of $851,262; Community Forest Management Plan Implementation

    North Country

    Clinton County

    • Clinton County Soil and Water Conservation District: $231,325 additional, for a total of $460,947; Ash Tree Management in Disadvantaged Communities

    Jefferson County

    • City of Watertown: $150,000 additional, for a total of $550,000; Community Forest Management Plan Implementation

    Western New York

    Chautauqua County

    • City of Dunkirk: $35,867 additional, for a total of $158,313; Community Forest Management Plan Implementation

    Senate Majority Leader Charles Schumer said, “New York, get your shovels out and get ready to dig for more new trees because over $5 million, in addition to the over $7 million we announced earlier this summer, is on the way to create more urban forests, from Albany to Kingston and more! I fought hard to plant this funding in the Inflation Reduction Act so that cities across New York could have access to the funding they have long needed to breathe new life into our most underserved neighborhoods. More trees mean cleaner, greener, and much cooler communities. I’m grateful for Governor Hochul’s partnership ensuring that these federal dollars are put to good use building a cooler and greener future for New York.”

    Representative Paul Tonko said, “Thanks to our Inflation Reduction Act, we’re taking action to deliver critical resources directly to communities here in the Capital Region and across New York State. This significant infusion of federal funding will help plant trees, increase canopy cover, and build more resilient urban forests – all while addressing climate change and advancing environmental justice. As we continue to build on the successes of the IRA, I’m thrilled to see the benefits of our historic legislation taking root right here at home.”

    Representative Pat Ryan said, “Tree coverage is an absolute necessity for a thriving city and these historic investments will increase canopy cover, improve climate resilience, and create good-paying jobs along the way. I’m proud that this $240,824 will add to the $528,600 from the landmark Inflation Reduction Act that I delivered for Kingston’s urban forestry program last year. I’m looking forward to continuing to work with officials at every level of government as we make the Hudson Valley a sustainable and vibrant home for generations to come.”

    To further progress New York’s climate goals, Governor Hochul’s 2024 State of the State address established a goal of planting 25 million trees statewide by 2033 — a $47 million effort supported by the Clean Water, Clean Air and Green Jobs Environmental Bond Act and the FY25 Enacted Budget. The goal will invigorate the state’s tree planting efforts through multi-year annual grants to municipalities to plant trees in support of resilient reforestation and urban forests, modernize DEC’s Colonel William F. Fox Memorial Saratoga Tree Nursery and engage the next generation of environmental stewards.

    MIL OSI USA News –

  • MIL-OSI USA: Texas Couple Charged in Multimillion-Dollar Tax Refund Fraud Scheme

    Source: US State of California

    A federal grand jury in Tyler, Texas, returned an indictment yesterday charging a Texas husband and wife with crimes related to their conspiracy to defraud the United States by seeking fraudulent tax refunds. 

    According to the indictment, from 2017 to 2023, Larry and Rebecca Kalmowitz filed false tax returns in the name of estates and trusts that sought $42 million in fraudulent refunds, ultimately receiving over $23 million from the IRS. The returns allegedly falsely reported interest income and large amounts of income tax withholdings to the IRS that resulted in large tax refunds to which they were not otherwise entitled. The Kalmowitzs allegedly created bank accounts in the names of the estates and trusts and deposited the fraudulently obtained tax refund checks into those accounts. They allegedly used the proceeds to purchase real property that they placed in the name of a nominee and to purchase luxury vehicles, including a Ford Mustang Shelby GT500 and a Mercedes-Benz GLS450. When the IRS attempted to recover the fraudulent funds, the Kalmowitzs allegedly took steps to obstruct the recovery by, among other things, filing false forms to support the claimed income and withholdings and a false form to release a federal lien.

    Both were charged with mail fraud, money laundering, conspiracy to defraud the United States and filing a false claim against the United States. If convicted, the Kalmowitzs each face a maximum penalty of 20 years in prison for each count of mail fraud, a maximum penalty of 10 years for each count of money laundering, a maximum penalty of five years in prison for the conspiracy to defraud the United States and a maximum penalty of five years in prison for each count of filing a false claim against the United States. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division and U.S. Attorney Damien Diggs for the Eastern District of Texas made the announcement.

    IRS Criminal Investigation is investigating the case.

    Trial Attorneys Zachary Cobb and Daniel Lipkowitz of the Justice Department’s Tax Division and Assistant U.S. Attorney Ryan Locker for the Eastern District of Texas are prosecuting the case.

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

    MIL OSI USA News –

  • MIL-OSI USA: A U.S. Framework for Climate Resilience and  Security

    US Senate News:

    Source: The White House
    Around the world today, our people and economies are increasingly impacted by the severe consequences of the climate crisis.  Coastal communities and military bases are threatened by storms and flooding. Extreme heat, now a regular phenomenon with each passing summer, costs lives, reduces productivity, and damages critical infrastructure.  Vital breadbaskets face historic droughts, and are no longer able to regularly deliver on the food security needs of their regions.  Record-breaking fires ravage forests, spill into communities, and pollute the air.
    The U.S. national security community has long understood climate change to be a “threat multiplier,” intensifying existing security threats and vulnerabilities, and decreasing resilience.  But today, the devastating impacts of the climate crisis increasingly are themselves the new direct threats from which we must protect our communities.  We are witnessing cycles of cascading climate impacts and increasing instability, at home and across the globe.
    U.S. national security requires addressing the growing impacts of the climate crisis.
    As described in our recent U.S. National Climate Assessment, growing climate vulnerabilities have profound impacts for U.S. national security, economic, and strategic interests.  As our military is increasingly called upon to respond to disasters, we risk stretching defense resources.  At the same time, our critical infrastructure—including relatively new infrastructure resulting from the increased investments in the clean-energy transition—risks being degraded more rapidly by the changing environment.  Around the world, changing temperature, precipitation, ecosystems, and ocean conditions threaten supply chains, increase prices, affect the affordability and availability of insurance, and strain public coffers, forcing all levels of government to shift funds away from other priorities.  And alongside these strains, we are witnessing vicious cycles of fragility, where communities may have limited capacity to recover from one disaster to the next.  Simply put, climate hazards are threatening the long-term stability of our governments, our economies, and our global security.
    The United States has prioritized the need to both mitigate and build resilience to these strategic threats.  This new U.S. Framework for Climate Resilience and Security prescribes three actions for turning this prioritization into implementation.
    Assess Climate-Related Threats and Opportunities: Without assessment of the impacts of climate change on our security and defense, it is difficult for our leaders to adapt to a rapidly changing environment or to plan strong responses.  The United States has state-of-the-art scientific capabilities, and thanks to this strategic edge, we are able to predict where climate impacts will exacerbate threats–and act effectively in advance.
    Partner for an Integrated Approach: Each federal department and agency has unique capabilities and comparative advantages in our response to climate hazards, but coordination is critical to efficiently and effectively meet the needs of our communities.  Similar partnerships must also extend to partners overseas at the national, regional, and local levels, civil society, the private sector, philanthropies, and international organizations, to enable the effective use of resources and information, and to incorporate and respond to the needs of those who are impacted most.
    Invest in Collective Resilience: Increasing the resilience of our own investments—including those in our supply chains, physical installations, or the provision of emergency assistance when challenges arise—advances national security objectives and yields economic results.  As our deployment of mitigation resources intensifies through the clean energy transition, we must protect them with commensurate consideration for and investment in resilience that can not only protect lives, and livelihoods, but avoid or lessen future humanitarian and economic assistance needs.
    Ultimately, these are the investments for which Americans across the country, and our partners across the world, are asking.  These are not just about the rising threats of the climate crisis, but ultimately they are critical ingredients for ensuring  economic security.  Realizing these goals will protect lives and property, prepare first responders and defense forces, and improve livelihoods globally.
    We will bring to bear the leadership of the United States to confront these threats, and bring our cutting-edge analysis, partnership, and investment to partners globally.  In doing so, we will be able to turn many of these growing vulnerabilities into strategic opportunities.  Through these efforts, we will build a more resilient and sustainable global security—one that asserts that projecting and withstanding climate shocks and disruptions is better done through partnership and investment.
    Signed,
    John PodestaSenior Advisor to the President for International Climate Policy
    Jake SullivanAssistant to the President for National Security Affairs
    The full U.S. Framework for Climate Resilience and Security can be found here.

    MIL OSI USA News –

  • MIL-OSI USA News: A U.S. Framework for Climate Resilience and  Security

    Source: The White House

    Around the world today, our people and economies are increasingly impacted by the severe consequences of the climate crisis.  Coastal communities and military bases are threatened by storms and flooding. Extreme heat, now a regular phenomenon with each passing summer, costs lives, reduces productivity, and damages critical infrastructure.  Vital breadbaskets face historic droughts, and are no longer able to regularly deliver on the food security needs of their regions.  Record-breaking fires ravage forests, spill into communities, and pollute the air.

    The U.S. national security community has long understood climate change to be a “threat multiplier,” intensifying existing security threats and vulnerabilities, and decreasing resilience.  But today, the devastating impacts of the climate crisis increasingly are themselves the new direct threats from which we must protect our communities.  We are witnessing cycles of cascading climate impacts and increasing instability, at home and across the globe.

    U.S. national security requires addressing the growing impacts of the climate crisis.

    As described in our recent U.S. National Climate Assessment, growing climate vulnerabilities have profound impacts for U.S. national security, economic, and strategic interests.  As our military is increasingly called upon to respond to disasters, we risk stretching defense resources.  At the same time, our critical infrastructure—including relatively new infrastructure resulting from the increased investments in the clean-energy transition—risks being degraded more rapidly by the changing environment.  Around the world, changing temperature, precipitation, ecosystems, and ocean conditions threaten supply chains, increase prices, affect the affordability and availability of insurance, and strain public coffers, forcing all levels of government to shift funds away from other priorities.  And alongside these strains, we are witnessing vicious cycles of fragility, where communities may have limited capacity to recover from one disaster to the next.  Simply put, climate hazards are threatening the long-term stability of our governments, our economies, and our global security.

    The United States has prioritized the need to both mitigate and build resilience to these strategic threats.  This new U.S. Framework for Climate Resilience and Security prescribes three actions for turning this prioritization into implementation.

    1. Assess Climate-Related Threats and Opportunities: Without assessment of the impacts of climate change on our security and defense, it is difficult for our leaders to adapt to a rapidly changing environment or to plan strong responses.  The United States has state-of-the-art scientific capabilities, and thanks to this strategic edge, we are able to predict where climate impacts will exacerbate threats–and act effectively in advance.
    2. Partner for an Integrated Approach: Each federal department and agency has unique capabilities and comparative advantages in our response to climate hazards, but coordination is critical to efficiently and effectively meet the needs of our communities.  Similar partnerships must also extend to partners overseas at the national, regional, and local levels, civil society, the private sector, philanthropies, and international organizations, to enable the effective use of resources and information, and to incorporate and respond to the needs of those who are impacted most.
    3. Invest in Collective Resilience: Increasing the resilience of our own investments—including those in our supply chains, physical installations, or the provision of emergency assistance when challenges arise—advances national security objectives and yields economic results.  As our deployment of mitigation resources intensifies through the clean energy transition, we must protect them with commensurate consideration for and investment in resilience that can not only protect lives, and livelihoods, but avoid or lessen future humanitarian and economic assistance needs.

    Ultimately, these are the investments for which Americans across the country, and our partners across the world, are asking.  These are not just about the rising threats of the climate crisis, but ultimately they are critical ingredients for ensuring  economic security.  Realizing these goals will protect lives and property, prepare first responders and defense forces, and improve livelihoods globally.

    We will bring to bear the leadership of the United States to confront these threats, and bring our cutting-edge analysis, partnership, and investment to partners globally.  In doing so, we will be able to turn many of these growing vulnerabilities into strategic opportunities.  Through these efforts, we will build a more resilient and sustainable global security—one that asserts that projecting and withstanding climate shocks and disruptions is better done through partnership and investment.

    Signed,

    John Podesta
    Senior Advisor to the President for International Climate Policy

    Jake Sullivan
    Assistant to the President for National Security Affairs

    The full U.S. Framework for Climate Resilience and Security can be found here.

    MIL OSI USA News –

  • MIL-OSI Asia-Pac: Commerce and Industry Minister Shri Piyush Goyal co-chairs 21st ASEAN-India Economic Ministers meeting in Lao PDR

    Source: Government of India (2)

    Posted On: 20 SEP 2024 9:25PM by PIB Delhi

    Shri Piyush Goyal, Commerce and Industry Minister during the 1st day of his visit to Vientiane, Lao PDR co-chaired the 21st ASEAN-India Economic Ministers (AEM-India) meeting alongwith H.E. Malaithong Kommasith, Minister of Industry and Commerce of Lao PDR. The Economic Ministers or their representatives from all the 10 ASEAN countries viz. Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam participated in the meeting. Democratic Republic of Timor-Leste joined the Meeting as an observer.

    The Ministers reviewed the trade and investment relations between India and ASEAN and reaffirmed their commitment to further strengthen the relations. India and ASEAN registered a bilateral trade of USD 120.9 billion in 2023-24 with ASEAN accounting for 10.9% of India’s global trade.

    The Ministers in particular took note of the progress in negotiations for the review of ASEAN-India Trade in Goods Agreement (AITIGA). Minister Goyal in his intervention stressed on the need for addressing injury to industries from the existing FTA and the inequitable tariff liberalisation during the review. He also cited India’s ongoing efforts of integrating with other economies through FTAs and highlighted the urgency in upgrading AITIGA which otherwise may lead to diversion of bilateral trade to other regions.

    The Ministers reiterated the commitment to ensure that the outcome of the review should be mutually beneficial and commercially meaningful and will make the AITIGA more effective, user-friendly, simple, and trade facilitative for businesses. The Ministers encouraged the AITIGA Joint Committee to expedite the negotiations to conclude the review in 2025. 

    The review of the AITIGA is a long-standing demand of Indian industry and India is looking forward to an upgraded AITIGA which will address the current asymmetries in bilateral trade and will make trade more balanced and sustainable.

    Minister Goyal reiterated India’s request for setting up of Joint Committees under the two separate Agreements on Services and Investment, signed in 2014, to review the implementation of these Agreements.

    On the sidelines of AEM-India meeting, Minister Goyal had a productive bilateral meeting with Mrs. Helene Budliger Artieda, Secretary for Economic Affairs, Switzerland. Both sides discussed the progress in ratification of India-EFTA Trade and Economic Partnership Agreement signed on 10th March 2024 and discussed the way forward in facilitating US$100 billion FDI commitment by the EFTA States under the FTA.

    Minister Goyal also interacted with the FICCI led industry delegation from India which was visiting Vientiane, Laos to brief the ASEAN-India Economic Ministers on the activities of ASEAN-India Business Council (AIBC). FICCI serves as the AIBC Secretariat from the Indian side. The delegation from AIBC ASEAN also met Minister Goyal separately. Industry from both sides briefed the Minister on their perspective of bilateral trade and their expectations from review of AITIGA.

     

     ***

    AD/VN

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    MIL OSI Asia Pacific News –

  • MIL-OSI Asia-Pac: Chapter Convention on Quality Concepts 2024 (CCQC2024) Concludes at Visakhapatnam Steel Plant

    Source: Government of India (2)

    Chapter Convention on Quality Concepts 2024 (CCQC2024) Concludes at Visakhapatnam Steel Plant

    We need to invest in people to better equip them so that the challenges of the present business environment are met with more confidence- Sri GVN Prasad, Director (Commercial), RINL

    Posted On: 20 SEP 2024 6:14PM by PIB Delhi

    The 2-day Chapter Convention on Quality Concepts 2024 with the theme “Investing in People, Building a Better Future” organized by Quality Circle Forum of India, Visakhapatanam Chapter on 19th and 20th September 2024 successfully concluded today at the Multipurpose hall of Ukku club of Visakhapatnam steel plant.

    Speaking at the valedictory program which was held today, the Chief Guest Sri GVN Prasad, Director (Commercial), RINL said that the magnitude of this event is like a mini national convention. He congratulated the entire team of QCFI Visakhapatnam Chapter for bringing over 660 delegates from 34 organisations together and for creating an opportunity to share and learn from each other.

    “If we look at the convention theme ‘Investing in People, building a Better Future’, it is very aptly chosen. In order to create a better future, we need to work at our best in the present. In order to sustain in any business, we need to ensure whether the products / services we are delivering really meet the requirements of the customer at a competitive price or not. Organizations do work constantly to deliver the best. However, as the competition is increasing, businesses are required to work at higher precision. Technological improvements and customer choice are dynamically shifting. In this scenario, the only way is to up-skill and empowers the people. For that, we need to invest in people to better equip them so that the challenges of the present business environment are met with more confidence. However, Total Employee Involvement is the key to build a better future for the organization”, Sri GVN prasad added.

    “In the Indian steel Industry, particularly at RINL -Vizag Steel, thrust for adopting Quality & Lean concepts has been given utmost importance. I am glad to say that Vizag Steel is the first Public Sector Steel Plant to have implemented 5S as one of the lean management initiatives across the organization. It is worth mentioning that RINL Vizag Steel is the first 5S certified Steel PSU in the country and QCFI has been a trusted partner in our journey and in achieving this mission” Sri GVN Prasad said.

    Amidst a thunderous applause, Sri GVN Prasad said that “Vizag Steel(RINL) employees are keeping our flag high at National and International fora in the areas of QCs and 5S. Last year, three LQC teams participated at the International Convention on QC Circles ICQCC 2023 held at Beijing, China and bagged “Gold Awards”. Maintaining the same tempo, RINL is regularly participating in the international fora. This year also we have nominated 3 teams to ICQCC 2024 to be held at Colombo, Sri Lanka in the month of November 2024.”

    Speaking on the occasion, Rear Admiral Shri R. Vijay Sekhar, Admiral Superintendent, Naval Dockyard, Visakhapatnam said that employee involvement is the key to success at the workplace. He reiterated that Organizations need to give top priority for employee involvement and continual improvement initiatives like Quality Circles and 5S Workplace Management system at RINL.

    Guests of Honour Shri Sanjay Kumar Sinha, CGM & Head of Projects, NTPC Simhadri, Visakhapatnam, Sri Gnana Sundaram, Head, Coromandel International, Vizag spoke on this occasion and expressed that such Conventions immensely help the members of various organizations in gaining knowledge and they complimented the efforts of QCFI Visakhapatnam in disseminating the knowledge and guiding the surrounding organizations towards higher quality and productivity.

    Shri G Gandhi, CGM (HR) and the Chairman of QCFI Visakhapatnam Chapter thanked all the participating organizations for nominating their delegates. Vice Chairman, QCFI Shri Cmde Sanjay Kumar, GM (HR&QA) Naval Dockyard Visakhapatnam thanked all the participating organizations and for active participation of teams in various events.

    Honorary Secretary QCFI Visakhapatnam Chapter Shri MECV Sagar congratulated the Awardees for their excellent case study presentations, and Prize Winners of various events thanked all the member organizations in making this mega event of CCQC 2024 a grand success by nominating maximum number of delegates this year. Later, the dignitaries presented awards to the delegates who excelled in various competitions conducted on the occasion.

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    MG/SK

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    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Legislation considered under suspension of the Rules of the House of Representatives during the week of September 23, 2024

    Source: US Congressional Budget Office

    The Majority Leader of the House of Representatives announces bills that will be considered under suspension of the rules in that chamber. Under suspension, floor debate is limited, all floor amendments are prohibited, points of order against the bill are waived, and final passage requires a two-thirds majority vote.

    At the request of the Majority Leader and the House Committee on the Budget, CBO estimates the effects of those bills on direct spending and revenues. CBO has limited time to review the legislation before consideration. Although it is possible in most cases to determine whether the legislation would affect direct spending or revenues, time may be insufficient to estimate the magnitude of those effects. If CBO has prepared estimates for similar or identical legislation, a more detailed assessment of budgetary effects, including effects on spending subject to appropriation, may be included.

    CBO’s estimates of the bills that have been posted for possible consideration under suspension of the rules during the week of September 23, 2024, include:

    • H.R. 522, Deliver for Veterans Act, as amended 
    • H.R. 618, Improving Access to Workers’ Compensation for Injured Federal Workers Act, as amended 
    • H.R. 1657, Lake Winnibigoshish Land Exchange Act of 2023, as amended 
    • H.R. 1726, Continued Rapid Ohia Death Response Act of 2023, as amended 
    • H.R. 1735, Mathematical and Statistical Modeling Education Act, as amended 
    • H.R. 2468, Mountain View Corridor Completion Act, as amended
    • H.R. 2706, Charlotte Woodward Organ Transplant Discrimination Prevention Act, as amended 
    • H.R. 2950, Coastal Habitat Conservation Act of 2023, as amended 
    • H.R. 3208, DHS Cybersecurity On-the-Job Training Program Act 
    • H.R. 3433, Give Kids a Chance Act of 2023 
    • H.R. 3884, Sickle Cell Disease and Other Heritable Blood Disorders Research, Surveillance, Prevention, and Treatment Act of 2023
    • H.R. 4094, Great Salt Lake Stewardship Act 
    • H.R. 4259, Think Differently about Education Act of 2023, as amended 
    • H.R. 4527, Health DATA Act, as amended 
    • H.R. 4596, Upper Colorado and San Juan River Basins Endangered Fish Recovery Programs Reauthorization Act of 2023, as amended 
    • H.R. 5302, Michel O. Maceda Memorial Act 
    • H.R. 5490, Bolstering Ecosystems Against Coastal Harm Act, as amended 
    • H.R. 5509, Electronic Permitting Modernization Act, as amended 
    • H.R. 5526, Seniors’ Access to Critical Medications Act, as amended 
    • H.R. 5646, Stop Campus Hazing Act, as amended 
    • H.R. 5867, To designate the facility of the United States Postal Service located at 109 Live Oaks Boulevard in Casselberry, Florida, as the “Colonel Joseph William Kittinger II Post Office Building” 
    • H.R. 6125, Online Dating Safety Act of 2023, as amended 
    • H.R. 6219, ASCEND Act, as amended 
    • H.R. 6231, Department of Homeland Security Policy Issuance Review act 
    • H.R. 6474, To amend the Energy Policy Act of 2005 to expedite geothermal exploration and development in previously studied or developed areas
    • H.R. 6633, To designate the facility of the United States Postal Service located at 9355 113th Street in Seminole, Florida, as the “Army SSG Ryan Christian Knauss Memorial Post Office Building”
    • H.R. 6656, Stuck on Hold Act, as amended 
    • H.R. 6829, HEARTS Act of 2024, as amended 
    • H.R. 6852, Holcombe Rucker Park Landmark Act, as amended 
    • H.R. 7073, Next Generation Pipelines Research and Development Act, as amended 
    • H.R. 7189, Congenital Heart Futures Reauthorization Act of 2024, as amended 
    • H.R. 7323, Montgomery GI Bill Selected Reserves Tuition Fairness Act of 2024, as amended 
    • H.R. 7370, Geothermal Energy Opportunity Act, as amended 
    • H.R. 7422, Geothermal Cost-Recovery Authority Act of 2024, as amended 
    • H.R. 7630, ANCHOR Act, as amended 
    • H.R. 7685, IMPACT Act, as amended 
    • H.R. 7764, Commission to Study the Potential Transfer of the Weitzman National Museum of American Jewish History to the Smithsonian Institution Act, as amended 
    • H.R. 7832, Emerging Innovative Border Technologies Act 
    • H.R. 8108, To amend title XIX of the Social Security Act to add a Medicaid State plan requirement with respect to determination of residency of certain individuals serving in Armed Forces 
    • H.R. 8419, American Victims of Terrorism Compensation Act 
    • H.R. 8674, Milestones for Advanced Nuclear Fuels Act, as amended 
    • H.R. 8958, To reauthorize the National Aeronautics and Space Administration, and for other purposes, as amended
    • H.R. 9459, PATHS Act 
    • H.R. 9460, DHS Joint Task Forces Reauthorization Act of 2024 
    • H.R. 9488, SHIELD Act, as amended 
    • S. 133, NAPA Reauthorization Act 
    • S. 134, Alzheimer’s Accountability and Investment Act 
    • S. 150, Affordable Prescriptions for Patients Act of 2023 
    • S. 376, A bill to designate the area between the intersections of 16th Street, Northwest and Fuller Street, Northwest and 16th Street, Northwest and Euclid Street, Northwest in Washington, District of Columbia, as “Oswaldo Paya Way”
    • S. 612, Lake Tahoe Restoration Reauthorization Act 
    • S. 656, Veteran Improvement Commercial Driver License Act of 2023
    • S. 670, IMPACTT Human Trafficking Act 
    • S. 679, GAO Database Modernization Act of 2024 
    • S. 794, CTPAT Pilot Program Act 
    • S. 1549, CBO Data Access Act 
    • S. 2087, Congressional Award Program Reauthorization Act of 2023 
    • S. 2685, Reuse Excess Property Act
    • S. 3639, To designate the facility of the United States Postal Service located at 2075 West Stadium Boulevard in Ann Arbor, Michigan, as the “Robert Hayden Post Office”
    • S. 3640, To designate the facility of the United States Postal Service located at 155 South Main Street in Mount Clemens, Michigan, as the “Lieutenant Colonel Alexander Jefferson Post Office”
    • S. 3764, United States Commission on International Religious Freedom Reauthorization Act of 2024 
    • S. 3851, To designate the facility of the United States Postal Service located at 90 McCamly Street South in Battle Creek, Michigan, as the “Sojourner Truth Post Office”

    MIL OSI USA News –

  • MIL-OSI USA: Bonneville County Man Sent to Prison for Distributing Child Sexual Abuse Material

    Source: US State of Idaho

    Home Newsroom Bonneville County Man Sent to Prison for Distributing Child Sexual Abuse Material

    [BOISE] – Attorney General Raúl Labrador has announced that Elias Daniel Medina, 27, was sentenced to 15 years in prison after pleading guilty to one count of Sexual Exploitation of a Child by Distribution of Sexually Exploitative Material, a felony punishable by up to 30 years in prison, and one count of Sexual Exploitation of a Child by Possession of Sexually Exploitative Material, a felony punishable by up to 10 years in prison. Medina was sentenced on September 18, 2024, by Bonneville County District Judge Bruce Pickett.
    “Our ICAC investigators and prosecutors work hard to keep predators off the streets and to deliver justice for these tragically young victims,” said Attorney General Labrador.  “I’m grateful for the partnerships that have been built across the state and the awareness raised in our communities, and for the judges who take these crimes seriously when determining sentences.”
    In October 2023, the Internet Crimes Against Children (ICAC) Unit received multiple CyberTips indicating that files containing child sexual abuse material (CSAM) were in accounts belonging to Medina. After obtaining search warrants, officers searched Medina’s home and devices, locating hundreds of files containing CSAM. Investigators also found Medina was distributing files containing CSAM to other internet users. The files depicted minor females ranging from approximately 3 to 13 years old. Many of these files depicted the minors engaged in sex acts with adult men.
    Judge Pickett sentenced Medina to a total of 15 years with 2 years fixed and 13 years indeterminate. Medina was ordered to pay reimbursement to Bonneville County for his representation and court costs and fees. Upon release, Medina will have to register as a sex offender pursuant to Idaho law.
    The investigation was led by Detective Jared Mendenhall with the Idaho Falls Police Department, who serves in the Attorney General’s ICAC Unit. The case was prosecuted by Deputy Attorney General Madison Allen.

    MIL OSI USA News –

  • MIL-OSI USA: Congresswoman Lee Announces $4 Million to Nevada Small Businesses in Key Economic Growth Sectors

    Source: United States House of Representatives – Congresswoman Susie Lee (NV-03)

    Supports Rural and Tribal Businesses, Healthcare Businesses, and Advanced Clean Energy Manufacturers

    WASHINGTON – Today, Congresswoman Susie Lee (NV-03) announced more than $4 million in federal investments to help small businesses in key sectors of the economy grow and hire new workers. The investment is being awarded to the Nevada Governor’s Office of Economic Development through the State Small Business Credit Initiative (SSBCI) Investing in America Small Business Opportunity Program (SBOP). 

    SBOP provides funding to connect underserved and small businesses to the financing needed to participate in key supply chains, including electric vehicle manufacturing, semiconductor manufacturing, construction, transportation, clean energy generation, and more. It was designed to catalyze additional private sector investment by supporting small business technical assistance services. 

    “Small businesses and their workers are the lifeblood of our economy and our communities,” said Congresswoman Susie Lee. “I will always fight to bring back the federal dollars southern Nevada small businesses need to grow so we can create more local, good-paying jobs right here at home.” 

    This week, Congresswoman Lee was awarded the U.S. Chamber of Commerce’s Advocate for American Business Award for her strong bipartisan record of supporting businesses of all sizes. To date, she has helped secure nearly $4 billion in federal investments for hardworking Nevadans. 

    ###

    MIL OSI USA News –

  • MIL-OSI USA: City of Chehalis Gets Nearly $1M Grant to Plan Hydrogen Fueling Facility at Airport

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell
    09.20.24
    City of Chehalis Gets Nearly $1M Grant to Plan Hydrogen Fueling Facility at Airport
    WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), chair of the Senate Committee on Commerce, Science, and Transportation, announced that the City of Chehalis will receive a $994,653 federal grant to help plan a proposed hydrogen fueling facility as part of the Chehalis Hub for Aviation Innovation and Sustainable Energy (CHAISE) at Chehalis-Centralia Airport.
    The grant will fund a feasibility study, design services, and public engagement for the proposed multimodal hydrogen fueling facility. The development may include a fueling station, on-site storage, or hydrogen generation. The Chehalis-Centralia Airport is an ideal location for a hydrogen fueling center, since it’s halfway between Seattle and Portland and close to I-5. Chehalis is also seeking funding from the SMART grant program and the Charging and Fueling Infrastructure Grant program.
    Hydrogen is a clean fuel that, when consumed in a fuel cell, produces no dirty emissions — only water. Hydrogen can be produced from existing power resources, such as solar and hydropower.
    The grant was awarded through the Department of Transportation’s Innovative Finance Asset Concession Grant Program, administered by the Build America Bureau, and is a new program authorized by the Bipartisan Infrastructure Law (BIL). The program provides $100 million over five years to help public entities scan existing assets to unlock value from them and explore innovative financing and delivery opportunities through, e.g., the Build America Bureau’s Transportation Infrastructure Finance and Innovation Act?(TIFIA) low-cost loan program. The program awards two types of grants: technical assistance grants and expert services grants. According to USDOT,  the technical assistance grants will use the funding to enhance their organizational capacity and advance a portfolio of assets by conducting pre-construction tasks, such as asset scans, market studies, delivery option analyses, financial modeling, and other activities considering innovative finance and delivery, including asset concessions. The expert services grants will use the funding to hire advisors to analyze a specific existing asset for innovative financing and delivery opportunities, including public-private partnerships.
    Sen. Cantwell has helped position the Pacific Northwest to be a leader in hydrogen production. In July 2023, she announced that the Pacific Northwest Hydrogen Association (PNWH2) will receive $27.5 million from the U.S. Department of Energy (DOE) to kickstart the first phase of a $1 billion federal investment to develop hydrogen as a green energy source in the region. She called the July announcement “a huge milestone in our region’s efforts to create a hydrogen ecosystem that can help provide clean and affordable alternative fuels for our heavy-duty transportation and manufacturing facilities.”
    Sen. Cantwell worked to include the H2Hubs program and other key hydrogen investments in the Bipartisan Infrastructure Law during consideration in the Energy and Natural Resources Committee, where she served as a senior member, in July 2021, and pushed for its successful passage through the Senate.
    Together with the clean hydrogen incentives included in the Inflation Reduction Act (IRA), these investments represent a historic investment that will help spur hydrogen to be an important piece of the decarbonizing puzzle needed to reach our climate goals.

    MIL OSI USA News –

  • MIL-OSI Translation: Canada announces significant funding to boost critical mineral development in northern British Columbia and Yukon

    MIL OSI Translation. Canadian French to English –

    Source: Government of Canada – in French

    Press release

    September 20, 2024 Vancouver, British Columbia Natural Resources Canada

    Investments in critical minerals infrastructure are needed to ensure Canada seizes the unique opportunity presented by the shift to a low-carbon economy and capitalizes on its rich mineral resources. The country is well positioned to be a global leader and leading producer of a wide range of critical minerals that are essential to fueling the clean economy, and in doing so, create good jobs and economic opportunities across the critical minerals value chain – from upstream exploration and extraction to downstream processing, manufacturing and recycling.

    The Minister of Energy and Natural Resources, the Honourable Jonathan Wilkinson, together with the Honourable Josie Osborne, British Columbia Minister of Energy, Mines and Low Carbon Innovation, and the Honourable Ranj Pillai, Premier of Yukon, today announced, subject to a final due diligence review by Natural Resources Canada, funding of up to $60 million for two critical minerals infrastructure projects in British Columbia’s Golden Triangle and Yukon. The funding would come from the Critical Minerals Infrastructure Fund (CMIF).

    Galore Creek Mining Corporation (Galore Creek) plans to build a 43-kilometre access road to facilitate the development of its copper mine in Tahltan territory in northwestern British Columbia. The Galore Creek deposit contains over 12 billion pounds of copper. Once operational, the mine will significantly increase Canada’s annual supply of the metal. Construction of the access road would connect the mine project to existing road infrastructure, providing overland access to the proposed mill and processing facilities, and creating a transmission corridor for the mine to tap into BC Hydro’s low-emission electricity grid. Road improvements are essential to advancing critical mineral development in northwestern British Columbia, in partnership with First Nations. Subject to final due diligence, Natural Resources Canada has conditionally approved a CMIF investment of up to $20 million for this project.

    The Yukon government is seeking to undertake pre-feasibility activities to support a 765-kilometre high-voltage transmission line that would connect the Yukon electricity grid to the North American grid in British Columbia. It includes the development of energy infrastructure in two priority areas for critical mineral development: the Cassiar-Tanana region in Yukon and the Golden Triangle region in British Columbia. The transmission line would support critical mineral production projects such as cobalt, copper, molybdenum, nickel, platinum group metals, tungsten and zinc in Yukon and northern British Columbia. Subject to final due diligence, Natural Resources Canada has conditionally approved an investment of up to $40 million in CMIF funding for this project.

    The Critical Minerals Infrastructure Fund is a key program under Canada’s Critical Minerals Strategy that aims to address infrastructure gaps and ensure the sustainable production of critical minerals and the flow of resources to market through transportation, electrification and clean energy infrastructure projects. Further funding decisions on critical minerals infrastructure development projects under the CMIF are expected in the coming months.

    These projects, which benefit from close collaboration within the regional tables on energy and resources British Columbia and Yukon, along with the recently announced Northwest British Columbia Highway Corridor Improvement Project, are fundamental initiatives to facilitate the development of critical minerals in the Golden Triangle and Yukon. British Columbia’s Golden Triangle has significant mineral potential and contains approximately 75% of Canada’s known copper reserves. Copper is critical to a variety of industrial processes and is a fundamental component of electrical wires, electronics and renewable energy systems such as solar panels and wind turbines.

    Critical minerals are fundamental components of products used in clean energy technologies such as electric vehicles, power transmission lines and batteries. British Columbia and Yukon’s mining sectors provide many of the building blocks for the clean technologies needed to combat climate change and build a clean economy. Across the country, clean energy solutions represent enormous economic opportunities.

    Quotes

    “These two projects, delivered through the Canadian Critical Minerals Strategy’s flagship program, will help build the infrastructure needed to access and transport our rich critical mineral resources in northern British Columbia and the Yukon. Projects like these accelerate mine construction and allow us to seize this unique opportunity. We need these investments to support critical mineral development in the region, improve community accessibility and safety, and create good mining jobs in British Columbia and the Yukon.”

    The Honorable Jonathan Wilkinson

    Minister of Energy and Natural Resources

    “British Columbia is home to the critical minerals Canada and the world need to build a clean economy. We have a unique opportunity to create good jobs not only in northwest British Columbia, but in communities across the province that supply and service our mining sector. That is why we are working with Canada and First Nations to make the infrastructure improvements needed to unlock billions of dollars of investment in new critical mineral mines like Galore Creek, creating new opportunities for people and communities.”

    The Honourable Josie Osborne

    British Columbia Minister of Energy, Mines and Low Carbon Innovation

    “The Grid Connect project is not just an energy project; it is a transformative initiative for all Yukoners. It will provide clean, affordable and reliable energy that will not only power our homes, but also drive economic and social growth. I thank our partners in British Columbia and the federal government for their collaboration on this important project that will benefit our northern communities. Our government is proud to take this step toward a more sustainable energy future.”

    Honourable Ranj Pillai

    Premier of Yukon

    “This project will connect Canada’s two westernmost territories and help integrate Yukon’s electricity grid with North America. It marks an important step in our shared journey to create a more connected and resilient energy landscape for Yukoners, while reducing greenhouse gas emissions. My sincere thanks to all those whose hard work and dedication made this goal a reality. I look forward to seeing how this progress will clean up Yukon’s energy, help protect our incredible natural landscapes, and create opportunities for economic growth.”

    The Honourable John Streicker

    Yukon Minister of Energy, Mines and Resources

    “We would like to thank Minister Wilkinson and the Government of Canada for their contributions to the development of the Galore Creek Mine and, by extension, Canada’s critical minerals industry. Canada’s support for the Galore Creek Mine demonstrates confidence in our project, our owners, our relationship with the Tahltan Nation, and our commitment to responsibly developing a world-class copper-gold mine.”

    Rob Mean

    Managing Director, Galore Creek Mining Corporation

    “The Galore Creek mine has the potential to significantly increase Canadian production of the copper needed to support the energy transition and global development, creating jobs and economic activity, which aligns with Teck’s goal as a Canadian metals company enabling the energy transition. This investment by the Government of Canada will support the development of the infrastructure needed to advance critical mineral projects and strengthen the country’s mining sector.”

    Jonathan Price

    President and CEO, Teck Resources Limited

    “Newmont is an equal partner in the Galore Creek project with Teck Resources. The Galore Creek mine is Canada’s largest non-developed copper project and could play a critical role in the transition to a low-carbon economy. Global demand for copper is exploding, and we are facing a shortage that underscores the importance of the project. The investment in a critical mine road, made through the Government of Canada’s Critical Minerals Infrastructure Fund, will help unlock the project and unleash the significant critical mineral potential of this region of northwest British Columbia.”

    Bernard Wessels

    General Manager, North America, Newmont Corporation

    Quick Facts

    Canada has developed its own critical minerals strategy with the aim of promoting the development of these resources and related value chains to contribute to the transition to a low-carbon economy and support advanced manufacturing and technologies.

    There Canadian Critical Minerals Strategy has five main objectives:

    supporting economic growth, competitiveness and job creation; promoting climate action and strong environmental stewardship; strengthening global security and partnerships with allies; advancing reconciliation with Indigenous peoples; and fostering a diverse and inclusive workforce and communities.

    Canada’s whole-of-government approach to critical minerals development is collaborative, forward-looking, iterative, adaptive and long-term. The initiatives outlined in the Strategy will be implemented and refined in collaboration with provinces, territories, Indigenous peoples, industry and other partners in Canada and internationally.

    The FIMC is a flagship program of the Strategy that supports transportation and clean energy infrastructure projects needed to increase Canada’s supply of critical minerals from responsible sources.

    The FIMC supports a variety of strategic priorities, including: decarbonizing mining industry operations, strengthening supply chains through the deployment of transportation infrastructure, and advancing economic reconciliation by supporting the participation of Indigenous peoples in critical infrastructure and mineral projects.

    The federal government also supports the development of Canada’s abundant critical mineral resources through regional tables on energy and resources of Natural Resources Canada. These regional tables are joint partnerships established with each provincial and territorial government that, in collaboration with Indigenous partners and with input from key stakeholders, seek to identify and accelerate the achievement of shared economic priorities for a low-carbon future in the energy and resource sectors.

    Related links

    Contact persons

    Natural Resources CanadaMedia Relations343-292-6100media@nrcan-rncan.gc.ca

    Cindy CaturaoPress SecretaryOffice of the Minister of Energy and Natural Resources613-795-5638cindy.caturao@nrcan-rncan.gc.ca

    EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure not be perfect.

    MIL Translation OSI

  • MIL-OSI Security: Leader of $4M International Telemarketing Scheme Convicted

    Source: United States Attorneys General 1

    A federal jury in North Carolina convicted a man today for his role in orchestrating a years-long telemarketing scheme that defrauded victims in the United States from a call center in Costa Rica.

    According to court documents and evidence presented at trial, Roger Roger, 40, of Costa Rica, led a fraudulent telemarketing scheme in which co-conspirators, who falsely posed as U.S. government officials, contacted victims in the United States to tell them that that they had won a substantial “sweepstakes” prize. After convincing victims, many of whom were elderly, that they stood to receive a significant financial prize, the co-conspirators told victims that they needed to make a series of up-front payments before collecting their supposed prize, purportedly for items such as taxes, customs duties, and other fees. Co-conspirators used a variety of means to conceal their true identities, including Voice over Internet Protocol technology, which made it appear as though they were calling from Washington, D.C., and other locations in the United States. Roger personally called victims from Costa Rica, using fake names and documents to trick the victims into believing they had won a sweepstakes prize. He also recruited and directed co-conspirators to mislead victims on the phone and to transmit victims’ payments from the United States to Costa Rica. The evidence at trial showed that Roger and his co-conspirators stole over $4 million from victims.

    Roger was convicted of one count of conspiracy to commit mail and wire fraud, four counts of wire fraud, one count of conspiracy to commit money laundering, and two counts of international money laundering. The defendant faces a maximum penalty of 25 years in prison on each of the conspiracy to commit mail and wire fraud and the wire fraud counts, because the jury found that these counts involved telemarketing that victimized at least 10 people over the age of 55, and 20 years in prison on each of the conspiracy to commit money laundering and money laundering counts. Sentencing will occur at a later date. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Principal Deputy Assistant Attorney General Nicole M. Argentieri, head of the Justice Department’s Criminal Division; U.S. Attorney Dena J. King for the Western District of North Carolina; Inspector in Charge Tommy Coke of the U.S. Postal Inspection Service (USPIS) Atlanta Division; Special Agent in Charge Karen Wingerd of the IRS Criminal Investigation (IRS-CI) Cincinnati Field Office; and Special Agent in Charge Robert DeWitt of the FBI Charlotte Field Office made the announcement.

    The USPIS Atlanta Division, IRS-CI Cincinnati Field Office, and FBI Charlotte Field Office investigated the case. The La Grande, Oregon Police Department and Union County District Attorney Victim Assistance Office provided valuable assistance. The Justice Department’s Office of International Affairs worked with law enforcement partners in Costa Rica to secure Roger’s arrest and extradition.

    Trial Attorneys Andrew Jaco and Amanda Fretto Lingwood of the Criminal Division’s Fraud Section are prosecuting the case.

    If you or someone you know is age 60 or older and has been a victim of financial fraud, help is standing by at the National Elder Fraud Hotline: 1-833-FRAUD-11 (1-833-372-8311). This U.S. Department of Justice hotline, managed by the Office for Victims of Crime, is staffed by experienced professionals who provide personalized support to callers by assessing the needs of the victim and identifying relevant next steps. Case managers will identify appropriate reporting agencies, provide information to callers to assist them in reporting, connect callers directly with appropriate agencies, and provide resources and referrals, on a case-by-case basis. Reporting is the first step. Reporting can help authorities identify those who commit fraud, and reporting certain financial losses due to fraud as soon as possible can increase the likelihood of recovering losses. The hotline is staffed 7 days a week from 6:00 a.m. to 11:00 p.m. ET. English, Spanish and other languages are available.

    MIL Security OSI –

  • MIL-OSI: Music Licensing, Inc. (OTC: SONG) Receives Royalty Payment for Ownership Stake in Listerine Antiseptic

    Source: GlobeNewswire (MIL-OSI)

    Naples, FL, Sept. 20, 2024 (GLOBE NEWSWIRE) — Music Licensing, Inc. (OTC: SONG), a diversified holding company, is pleased to announce the receipt of a royalty payment derived from its ownership stake in Listerine® Antiseptic (Mouthwash), a globally recognized brand in oral hygiene.

    As part of its strategic portfolio, Music Licensing, Inc. holds a valuable interest in the Listerine® brand, which continues to perform exceptionally well in the marketplace. The latest royalty payment reflects the company’s ongoing commitment to maximizing shareholder value through diversified asset holdings, including high-profile consumer goods.

    “We are proud of the steady revenue stream generated from our stake in Listerine® Antiseptic,” said Jake P. Noch, CEO of Music Licensing, Inc. “This payment not only highlights the strength and reliability of our diverse portfolio but also underscores our ability to create sustainable, long-term value for our shareholders.”

    Music Licensing, Inc. continues to pursue strategic investments in both the entertainment and consumer goods sectors, further reinforcing its position as a leader in intellectual property and royalty-based assets.

    About Music Licensing, Inc. (OTC: SONG) (ProMusicRights.com) 

    Music Licensing, Inc. (OTC: SONG), also known as Pro Music Rights, is a diversified holding company and the fifth public performance rights organization (PRO) formed in the United States. Its licensees include notable companies such as TikTok, iHeart Media, Triller, Napster, 7Digital, Vevo, and many others. Pro Music Rights holds an estimated market share of 7.4% in the United States, representing over 2,500,000 works by notable artists such as A$AP Rocky, Wiz Khalifa, Pharrell, Young Jeezy, Juelz Santana, Lil Yachty, MoneyBagg Yo, Larry June, Trae Pound, Sauce Walka, Trae Tha Truth, Sosamann, Soulja Boy, Lex Luger, Trauma Tone, Lud Foe, SlowBucks, Gunplay, OG Maco, Rich The Kid, Fat Trel, Young Scooter, Nipsey Hussle, Famous Dex, Boosie Badazz, Shy Glizzy, 2 Chainz, Migos, Gucci Mane, Young Dolph, Trinidad James, Chingy, Lil Gnar, 3OhBlack, Curren$y, Fall Out Boy, Money Man, Dej Loaf, Lil Uzi Vert, and countless others, as well as artificial intelligence (A.I.) created music.

    Additionally, Music Licensing, Inc. (OTC: SONG) owns royalty stakes in Listerine “Mouthwash” Antiseptic and musical works by artists such as The Weeknd, Justin Bieber, Kanye West, Elton John, Mike Posner, blackbear, Lil Nas X, Lil Yachty, DaBaby, Stunna 4 Vegas, Miley Cyrus, Lil Wayne, XXXTentacion, Jeremih, Ty Dolla $ign, Eric Bellinger, Ne-Yo, MoneyBagg Yo, Halsey, Desiigner, DaniLeigh, Rihanna, and numerous others.

    Forward-Looking Statements:

    This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Music Licensing, Inc. & Pro Music Rights, Inc. to accomplish its stated plan of business. Music Licensing, Inc. & Pro Music Rights, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Pro Music Rights, Inc., Music Licensing, Inc., or any other person.

    Non-Legal Advice Disclosure:

    This press release does not constitute legal advice, and readers are advised to seek legal counsel for any legal matters or questions related to the content herein.

    Non-Investment Advice Disclosure:

    This communication is intended solely for informational purposes and does not in any way imply or constitute a recommendation or solicitation for the purchase or sale of any securities, commodities, bonds, options, derivatives, or any other investment products. Any decisions related to investments should be made after thorough research and consultation with a qualified financial advisor or professional. We assume no liability for any actions taken or not taken based on the information provided in this communication

    Contact: investors@ProMusicRights.com

    SOURCE: Music Licensing, Inc

    The MIL Network –

  • MIL-OSI: Longevity Biomedical, Inc. and FutureTech II Acquisition Corp. Announce Business Combination to Create Nasdaq-Listed Biopharmaceutical Company Focused on Advancing New Technologies to Promote Human Health and Longevity

    Source: GlobeNewswire (MIL-OSI)

      – Longevity Biomedical, Inc. is focused on developing and acquiring new technologies spanning therapeutics, health monitoring and digital health solutions to become a leading provider of longevity-related products and services designed to increase the health span for the rapidly growing global aging population.
         
      – Late-stage, diversified pipeline of therapeutic candidates across ophthalmology, cardiovascular disease and soft tissue reconstruction and repair.
         
      – Near-term clinical milestones include Phase 3 start for LBI-201 for Ischemic stroke, Phase 2 data for LBI-101 for soft-tissue reconstruction, and Phase 2 start for LBI-001 in retinal vein occlusion.
         
      – Seasoned management team of medtech and biopharmaceutical veterans with track record of acquiring, developing, and commercializing novel technologies.
         
      – Post-combination company to list on Nasdaq under ticker symbol “LBIO.”
         
      – Business combination expected to close in Q4 2024.
         

    New York, Sept. 20, 2024 (GLOBE NEWSWIRE) — Longevity Biomedical, Inc. (“Longevity” or “Longevity Biomedical”), a biopharmaceutical company focused on advancing new technologies across therapeutics, health monitoring, and digital health solutions to increase human health span, and FutureTech II Acquisition Corp. (“FutureTech”) (NASDAQ: FTII), a publicly traded special purpose acquisition company (“SPAC”), announced today that they have entered into a definitive business combination agreement (the “BCA”) on September 16, 2024. Upon the closing of the transaction pursuant to the BCA, the combined company (the “Combined Company”) will operate as Longevity Biomedical, Inc. and is expected to list on Nasdaq under the ticker symbol “LBIO.”

    Despite the rapid pace of the global population aging, Longevity Biomedical believes the current market for longevity-related products and services is fragmented and that, particularly as it relates to low- and middle-income countries, it is difficult for healthcare consumers to find and purchase the products, technologies and services to address their individual aging needs. To address this unmet need, Longevity Biomedical aims to become a consolidator and leading provider of advanced therapeutic, health monitoring and digital health technologies designed to restore tissue form and function and increase health span for the rapidly growing aging population. To achieve this goal, Longevity intends to build on its existing platform of diversified, late-stage technologies by leveraging its seasoned executive team to continue acquiring first-in-class technologies, products and services that address the growing market of age-related diseases and conditions. Longevity has established an existing pipeline of late-stage, diversified therapeutic candidates addressing cardiovascular disease, ophthalmology and soft tissue reconstruction and repair through the proposed acquisitions of the following technologies:

      – LBI-201 is a non-invasive ultrasonic device being investigated for treatment of ischemic stroke, the second leading cause of death worldwide. It is designed for rapid, convenient delivery of transcranial ultrasound in combination with conventional thrombolytic drug therapy to increase restoration of blood flow in stroke patients with large vessel occlusions that do not have immediate access to thrombectomy facilities and services. Previous clinical studies have demonstrated a nearly two-fold increase in complete vessel recanalization compared to thrombolytic drug therapy alone.
         
      – LBI-001 combines intravenous administration of microspheres with non-invasive ultrasound as a potential treatment of retinal vein occlusion, one of the most common causes of retinal blindness worldwide. LBI-001 Phase 1 clinical results provided favorable safety data and demonstrated improvements in key visual measurements.
         
      – LBI-101 is an off-the-shelf allogenic tissue biomaterial that has completed enrollment in a Phase 2 clinical study for permanent reconstruction of soft tissue affected by aging, traumatic injuries, and surgical procedures. The injectable application is designed to stimulate tissue repair and regeneration. Clinical studies of LBI-101 have demonstrated initial safety, biocompatibility, and new tissue formation without scarring typically associated with injections.
         

    In addition to these clinical stage technologies, Longevity will have, upon the closing of the transactions contemplated by the C&E Agreements {described below}, a pipeline of preclinical stage indications across its initial therapeutic areas of focus. Longevity also plans to seek to acquire additional cutting-edge health technologies in the areas of health monitoring and digital health solutions.

    “Longevity Biomedical is dedicated to advancing science-driven solutions to improve human health. This business combination will provide the platform to advance cutting-edge technologies spanning multiple areas of unmet medical need for the aging population,” said Bradford A. Zakes, Chief Executive Officer of Longevity Biomedical. “The proceeds from this transaction will allow Longevity to reach significant clinical development milestones for our leading technologies that have demonstrated successful results in clinical studies. In addition, Longevity will retain an opportunistic, visionary approach to future health advancements in the areas of health monitoring and digital health solutions.”

    “Longevity is known for developing therapeutic solutions and digital health technologies that are focused on addressing unmet medical needs particularly focused on the aging population,” said Mr. Ray Chen, Chief Executive Officer of FutureTech. “FutureTech is excited to partner with Longevity’s experienced leadership team to accelerate its clinical development pipeline to expand its impact in the healthcare industry.”

    Transaction Overview

    The estimated cash proceeds available to the Combined Company from the transaction consists of FutureTech’s $26.8 million of cash held in trust. The proceeds will be used to achieve key development milestones related to Longevity’s clinical stage assets.

    The Combined Company may seek a pre-transaction PIPE that is expected to close concurrently with the closing of the transaction.

    Longevity has entered into Contribution and Exchange Agreements (collectively and as amended, the “C&E Agreements”) with each of Cerevast Medical, Inc., a Delaware corporation, and Aegeria Soft Tissue, LLC, a Delaware limited liability company (collectively, the “Targets”), pursuant to which, immediately prior to the closing of the proposed transaction between Longevity and FutureTech under the BCA, Longevity will acquire all of the issued and outstanding equity securities of each of the Targets from the current equity holders in exchange for shares of common stock of Longevity. The Targets are developing the therapeutic candidates across ophthalmology, cardiovascular disease and soft tissue reconstruction and repair as described above. As a result of the transactions contemplated by the C&E Agreements, each of the Targets will be a wholly-owned, indirect subsidiary of the Combined Company upon the closing of the transactions contemplated by the BCA. 

    The existing stockholder of Longevity and the board of directors of each of FutureTech and Longevity unanimously approved the transaction, which is expected to close in Q4 2024. The transaction will require the approval of the stockholders of FutureTech and Longevity and is subject to other customary closing conditions including the receipt of certain SEC regulatory approvals.

    Additional information about the proposed transaction, including a copy of the BCA, will be provided in a Current Report on Form 8-K to be filed by FutureTech with the SEC and available at www.sec.gov.

    Advisors

    Moses & Singer LLP is acting as legal advisor to FutureTech. Nelson Mullins Riley & Scarborough LLP is acting as legal advisor to Longevity.

    About Longevity

    Longevity Biomedical is a biopharmaceutical company focused on advancing technologies across therapeutics, health monitoring and digital health solutions to restore tissue form and function in order to increase and improve health span. Longevity’s mission is to become a consolidator and a leading provider of products and services designed to help people live longer, healthier lives. Longevity is acquiring a differentiated therapeutic pipeline of late-stage clinical technologies across ophthalmology, cardiovascular disease and soft tissue reconstruction and repair. Building on this platform, Longevity intends to acquire and/or partner with other health technology companies to become a leading provider of products and services designed to increase and improve health span amongst the rapidly growing aging patient population. Longevity is led by a team of industry experts and scientific advisors with significant experience acquiring, developing and commercializing cutting-edge health technologies. Longevity is headquartered in Bothell, Washington.

    About FutureTech

    FutureTech Capital Acquisition Corp. is a blank check company incorporated as a Delaware corporation for the purpose of effecting a business combination, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities.

    Additional Information and Where to Find It

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934 (“Exchange Act”) that are based on beliefs and assumptions and on information currently available to FutureTech and Longevity. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Any statements that refer to expectations, projections or other characterizations of future events or circumstances, including projections of market opportunity and market share, the capability of Longevity’s business plans and the Combined Company’s business plans including their plans to expand, the sources and uses of cash from the proposed transaction, the anticipated enterprise value of the Combined Company following the consummation of the proposed transaction, any benefits of Longevity’s partnerships, strategies or plans as they relate to the proposed transaction, anticipated benefits of the proposed transaction and expectations related to the terms and timing of the proposed transaction are also forward-looking statements. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Although each of FutureTech and Longevity believes that it has a reasonable basis for each forward-looking statement contained in this communication, each of FutureTech and Longevity caution you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, there will be risks and uncertainties described in the proxy statement/prospectus included in the registration statement on Form S-4 relating to the proposed transaction, which is expected to be filed by FutureTech with the SEC, and described in other documents filed by FutureTech or Longevity from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Neither FutureTech nor Longevity can assure you that the forward-looking statements in this communication will prove to be accurate. These forward-looking statements are subject to a number of risks and uncertainties, including, among others, the ability to complete the business combination due to the failure to obtain approval from FutureTech’s stockholders or satisfy other closing conditions in the BCA, the occurrence of any event that could give rise to the termination of the BCA, the ability to recognize the anticipated benefits of the business combination, the amount of redemption requests made by FutureTech’s public stockholders, costs related to the transaction, the risk that the transaction disrupts current plans and operations as a result of the announcement and consummation of the transaction, the outcome of any potential litigation, government or regulatory proceedings and other risks and uncertainties, including those to be included under the heading “Risk Factors” in the final prospectus for FutureTech’s initial public offering filed with the SEC on February 14, 2022 and in its subsequent quarterly reports on Form 10-Q and other filings with the SEC. There may be additional risks that neither FutureTech nor Longevity currently know or that FutureTech and Longevity currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by FutureTech, Longevity, their respective directors, officers or employees or any other person that FutureTech and Longevity will achieve their objectives and plans in any specified time frame, or at all. The forward-looking statements in this press release represent the views of FutureTech and Longevity as of the date of this communication. Subsequent events and developments may cause those views to change. However, while FutureTech and Longevity may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of FutureTech or Longevity as of any date subsequent to the date of this communication.

    No Offer or Solicitation

    This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and does not constitute an offer to sell or a solicitation of an offer to buy any securities of FutureTech or Longevity, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act.

    Important Additional Information Regarding the Transaction Will Be Filed With the SEC

    In connection with the proposed business combination, a registration statement on Form S-4 is expected to be filed with the SEC containing a preliminary proxy statement and a preliminary prospectus, and after the registration statement is declared effective, FutureTech will mail a definitive proxy statement/prospectus relating to the proposed business combination to its stockholders and Longevity’s stockholders. This press release does not contain all the information that should be considered concerning the proposed business combination and is not intended to form the basis of any investment decision or any other decision in respect of the business combination. FutureTech’s stockholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus and the amendments thereto and the definitive proxy statement/prospectus and other documents filed in connection with the proposed business combination, as these materials will contain important information about Longevity, FutureTech and the proposed business combination. When available, the definitive proxy statement/prospectus and other relevant materials for the proposed business combination will be mailed to stockholders of FutureTech as of a record date to be established for voting on the proposed business combination. Such stockholders will also be able to obtain copies of the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus and other documents filed with the SEC, without charge, once available, at the SEC’s website at www.sec.gov, or by directing a request to FutureTech II Acquisition Corp., 128 Gail Drive, New Rochelle, New York 10085, telephone number (914) 316-4805, Attention: Ray Chen, President and Chief Executive Officer.

    Participants in the Solicitation

    FutureTech and Longevity and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of FutureTech’s stockholders in connection with the proposed transaction. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of FutureTech’s stockholders in connection with the proposed business combination will be set forth in a registration statement on Form S-4, including a proxy statement/prospectus, when it is filed with the SEC.

    Investors and security holders may obtain more detailed information regarding the names and interests in the proposed transaction of FutureTech’s directors and officers in FutureTech’s filings with the SEC and such information will also be in the registration statement to be filed with the SEC, which will include the proxy statement/prospectus of FutureTech for the proposed transaction.

    For investor and media inquiries, please contact:

    Investor Relations
    Ying Shan
    FutureTech Capital LLC
    yingshan@futuretechcapitalllc.com

    Media Relations
    Rathbun Communications
    Julie Rathbun
    julie@rathbuncomm.com

    The MIL Network –

  • MIL-OSI: Discovery 2024 Short Duration LP Closing October 16, 2024 – Maximum $25,000,000

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Sept. 20, 2024 (GLOBE NEWSWIRE) — Middlefield, on behalf of Discovery 2024 Short Duration LP (“Discovery 2024” or the “Partnership”), is pleased to announce that it has filed a final prospectus relating to the initial public offering of Discovery 2024 Class A and Class F units. The offering is being made in each of the provinces of Canada. Closing is scheduled for October 16, 2024.

    The objectives of the Partnership are to provide investors with capital appreciation and significant tax benefits to enhance after-tax returns to limited partners, including the deductibility of 100% of their original investment. The Partnership intends to achieve these objectives by investing in an actively managed, diversified portfolio comprised primarily of equity securities of Canadian gold mining companies.

    Middlefield is a leading provider of flow-through share funds in Canada and has a strong track record of delivering positive after-tax returns. Since 1983, Middlefield has sponsored 69 public and private flow-through funds and has acted as agent or manager for over $2.5 billion of resource investments.

    The syndicate of agents for the offering is being co-led by RBC Capital Markets and CIBC Capital Markets and includes BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Richardson Wealth Limited, Manulife Wealth Inc., iA Private Wealth Inc., Canaccord Genuity Corp., Raymond James Ltd., Ventum Financial Corp., and Wellington-Altus Private Wealth Inc.

    For further information, please visit our website at www.middlefield.com or contact Nancy Tham in our Sales and Marketing Department at 1.888.890.1868.

    This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies of the prospectus may be obtained from your CIRO registered financial advisor using the contact information for such advisor. Investors should read the prospectus before making an investment decision.

    The MIL Network –

  • MIL-OSI: Half-Year Financial Report as of 30 June 2024 available

    Source: GlobeNewswire (MIL-OSI)

    Amundi: Half-Year Financial Report as of 30 June 2024 available

    Paris, 20 September 2024 – Amundi announces the public release and the filing of its first-half 2024 Financial Report with the Autorités des Marchés Financiers (“AMF”).

    This 2024 Half-Year Financial Report is available on the website of Amundi (https://about.amundi.com/financial-information).

    About Amundi

    Amundi, the leading European asset manager, ranking among the top 10 global players1, offers its 100 million clients – retail, institutional and corporate – a complete range of savings and investment solutions in active and passive management, in traditional or real assets. This offering is enhanced with IT tools and services to cover the entire savings value chain. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages more than €2.15 trillion of assets2.

    With its six international investment hubs3, financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.

    Amundi clients benefit from the expertise and advice of 5,500 employees in 35 countries.

    Amundi, a trusted partner, working every day in the interest of its clients and society

    www.amundi.com   

    Press contacts:        
    Natacha Andermahr 
    Tel. +33 1 76 37 86 05
    natacha.andermahr@amundi.com 

    Corentin Henry
    Tel. +33 1 76 36 26 96
    corentin.henry@amundi.com

    Investor contacts:
    Cyril Meilland, CFA
    Tel. +33 1 76 32 62 67
    cyril.meilland@amundi.com 

    Thomas Lapeyre
    Tel. +33 1 76 33 70 54
    thomas.lapeyre@amundi.com 

    Annabelle Wiriath

    Tel. + 33 1 76 32 43 92

    annabelle.wiriath@amundi.com

    1Source: IPE “Top 500 Asset Managers” published in June 2024, based on assets under management as at 31/12/2023
    2Amundi data as at 30/06/2024
    3Boston, Dublin, London, Milan, Paris and Tokyo

    Attachment

    The MIL Network –

  • MIL-OSI: Portfolio Update

    Source: GlobeNewswire (MIL-OSI)

    Octopus AIM VCT plc
    Portfolio Update

    The investment portfolio of Octopus AIM VCT plc (the “Company”) as at 20 September 2024 is as follows (the valuations being the unaudited valuations, at bid price, as at 31 July 2024):

    Portfolio Company Sector Book cost (£’000) Movement in valuation (£’000) Fair Value
    (£’000)
    Breedon Group plc Construction & Building 859 5,316 6,175
    Hasgrove plc1 Unquoted Investment 88 5,666 5,754
    Judges Scientific plc Electronic & Electrical 256 3,737 3,993
    Learning Technologies Group plc Support Services 1,051 2,288 3,339
    Popsa Holdings Ltd1 Unquoted Investment 1,590 1,596 3,186
    Craneware plc Software & Computer Services 183 2,964 3,147
    Mattioli Woods plc Specialty & Other Finance 529 2,599 3,128
    Brooks Macdonald Group plc Specialty & Other Finance 746 2,287 3,033
    IDOX plc Software & Computer Services 353 2,622 2,975
    GB Group plc Software & Computer Services 505 2,360 2,865
    Netcall plc Telecommunication Services 308 2,445 2,753
    Intelligent Ultrasound Group plc Engineering & Machinery 2,156 49 2,205
    PCI-Pal plc Software & Computer Services 1,294 909 2,203
    Equipmake Holdings plc Electronic & Electrical 2,121 41 2,162
    Beeks Financial Cloud Group plc Software & Computer Services 450 1,676 2,126
    Vertu Motors plc General Retailers 1,265 639 1,904
    Next Fifteen Communications Group plc Media & Entertainment 453 1,402 1,855
    Maxcyte Inc Pharmaceuticals & Biotech 1,035 694 1,729
    Diaceutics plc Pharmaceuticals & Biotech 930 648 1,578
    Animalcare Group plc Food Producers & Processors 306 1,224 1,530
    SDI Group plc Electronic & Electrical 179.00 1,249 1,428
    Pulsar Group plc Software & Computer Services 678 515 1,193
    EKF Diagnostics Holdings plc Health 767 413 1,180
    Abingdon Health plc Medical Equipment and Services 1,615 (467) 1,148
    GENinCode plc Medical Equipment and Services 2,001 (876) 1,125
    Gamma Communications plc Telecommunication Services 274 789 1,063
    Itaconix plc Industrial 1,588 (529) 1,059
    Eden Research plc Industrial 1,620 (573) 1,047
    Sosandar plc General Retailers 1,853 (806) 1,047
    Verici Dx plc Pharmaceuticals & Biotech 1,551 (587) 964
    Nexteq plc Technology Hardware 507 429 936
    Strip Tinning Holdings plc Loan Notes Electronic & Electrical 900 – 900
    Cambridge Cognition Holdings plc Health 1,075 (216) 859
    Haydale Graphene Industries plc Chemicals 1,857 (1,025) 832
    Gear4music Holdings plc General Retailers 529 148 677
    TPXimpact Holdings plc Support Services 979 (317) 662
    Oberon Investments Group plc Investment Banking & Brokerage Services 864 (220) 644
    Cranswick plc Food Producers & Processors 606 37 643
    Ricardo Construction & Building 602 33 635
    Wise Industrial 606 7 613
    Feedback plc Software & Computer Services 1,500 (896) 604
    GSK plc Pharmaceuticals & Biotech 603 (32) 571
    Ilika Electronic & Electrical 1,058 (509) 549
    DP Poland plc Leisure & Hotels 1,016 (519) 497
    Restore plc Support Services 256 233 489
    Gooch & Housego plc Electronic & Electrical 422 60 482
    RWS Holdings plc Support Services 143 316 459
    MyCelx Technologies Corporation Oil Services 1,470 (1,014) 456
    Bytes Technology Group plc Software & Computer Services 489 (42) 447
    Mears Group plc Support Services 139 304 443
    Advanced Medical Solutions Group plc Health 284 148 432
    Velocity Composites plc Engineering & Machinery 799 (404) 395
    Creo Medical Group plc Pharmaceuticals & Biotech 1,471 (1,118) 353
    Northcoders Group plc Software & Computer Services 380 (63) 317
    Alusid Limited1 Unquoted Investment 300 – 300
    Crimson Tide plc Software & Computer Services 567 (283) 284
    JTC plc Investment Banking & Brokerage Services 248 36 284
    Ixico plc Health 1,046 (794) 252
    Rosslyn Data Technologies plc Software & Computer Services 969 (759) 210
    Tan Delta Systems plc Electronic & Electrical 453 (252) 201
    Libertine holdings plc Industrial Engineering 3,000 (2,805) 195
    Gelion plc Electronic & Electrical 1,140 (951) 189
    Rosslyn Data Technologies plc (convertible loan) Software & Computer Services 180 – 180
    ENGAGE XR Holdings Software & Computer Services 1,879 (1,709) 170
    KRM22 plc Software & Computer Services 681 (511) 170
    LungLife AI Inc Pharmaceuticals & Biotech 2,079 (1,925) 154
    Staffline Group plc Industrial Support Services 334 (192) 142
    Strip Tinning Holdings plc Electronic & Electrical 506 (397) 109
    XP Factory plc Leisure & Hotels 988 (882) 106
    TheraCryf plc Pharmaceuticals, Biotechnology and Marijuana Producers 1,050 (952) 98
    Enteq technologies plc Oil Services 1,032 (960) 72
    1Spatial plc Support Services 300 (235) 65
    DXS International plc Software & Computer Services 300 (255) 45
    Fusion Antibodies plc Pharmaceuticals & Biotech 745 (717) 28
    Tasty plc Leisure & Hotels 516 (498) 18
    Genedrive Plc Pharmaceuticals & Biotech 217 (206) 11
    Trackwise Designs plc Electronic & Electrical 1,934 (1,934) –
    Cloudified Holdings Limited Software & Computer Services 900 (900) –
    Airnow plc1 Unquoted Investment 1,257 (1,257) –
    Microsaic Systems plc Engineering & Machinery 1,384 (1,384) –
    Rated People Ltd1 Unquoted Investment 354 (354) –
    ReNeuron Group plc Pharmaceuticals & Biotech 1,485 (1,485) –
    Sorted Group Holdings Plc Software & Computer Services 763 (763) –
    The British Honey Company plc General Retailers 1,321 (1,321) –
    The Food Marketplace Ltd1 Retailers 300 (300) –
    Eluceda Limited1 Pharmaceuticals & Biotech 300 (300) –

    Since 31 July 2024 Octopus AIM VCT plc has made £1.2 million investments and £0.1 million disposals. 

    Unless otherwise stated, all the investments set out above: 

    – are not quoted on regulated markets; 
    – represent equity investments except in the case of Osirium which include investment through loan stock; and 
    – are in portfolio companies incorporated in the UK with the exception of: 

    Cloudified Holdings Limited – British Virgin Islands 
    ENGAGE XR Holdings plc – Republic of Ireland 
    JTC plc – Jersey 
    LungLife AI Inc – USA
    MyCelx Technologies Corporation – USA 
    Breedon Group plc – Jersey 
    MaxCyte Inc – USA 

    1 Denotes unlisted company 

    Current Asset Investments (unaudited) 

    Portfolio Company  Book cost (£’000) Fair Value (£’000)
    FP Octopus Microcap Growth Fund  7,518 9,233
    FP Octopus Multi Cap Income Fund  4,051 5,027
    FP Octopus Future Generations Fund  1,878 1,907
    JPMorgan Sterling Liquidity Fund  9,000 9,000
    BlackRock ICS Sterling Liquidity Fund   9,046 9,046
    HSBC Sterling Liquidity Fund  9,040 9,040

    Since 31 July 2024 there has been no investments or disposals from the current asset investments. 

    The capitalisation of Octopus AIM VCT plc as at 31 July 2024 was as follows:  

    Shareholders’ Equity    £’000s
    Called up Equity Share Capital  2,018
    Legal reserves  18,065
    Other reserves  96,300
    Total   116,383

    There has been no material change to the capitalisation since 31 July 2024. 

    For further information please contact:

    Rachel Peat
    Octopus Company Secretarial Services Limited
    Tel: +44 (0)80 0316 2067
    LEI: 213800C5JHJUQLAFP619

    The MIL Network –

  • MIL-OSI: SoFi Announces Reverse Stock Split for SoFi Select 500 ETF (SFY)

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Sept. 20, 2024 (GLOBE NEWSWIRE) — The Board of Trustees of Tidal ETF Trust (the “Trust”) has approved a reverse stock split of the issued and outstanding shares of the SoFi Select 500 ETF (NYSE Arca: SFY) (the “Fund”). The reverse split will take effect after the close of trading on the NYSE Arca, Inc. (the “Exchange”) on October 1, 2024.

    Following the reverse stock split, every five shares of the Fund will be consolidated into one share, effectively decreasing the total number of issued and outstanding shares by approximately 80%. The per-share net asset value (NAV) and the opening market price will increase proportionally by five times on the following trading day.

    Details of the Reverse Stock Split:

    • Reverse Split Ratio: 1:5
    • Approximate Decrease in Total Outstanding Shares: 80%

    Additionally, the Fund’s CUSIP number will change as follows, effective after the close of the market on the Effective Date:

    Old CUSIP New CUSIP
    886364207 886364173

    Impact on Shareholders

    The reverse stock split will not alter the overall value of a shareholder’s investment. The value of an investor’s holdings in the Fund remains unchanged, even though the number of shares will decrease, and the per-share price will increase:

    Shares of the Fund will begin trading on a split-adjusted basis on the Exchange on October 2, 2024.

    Redemption of Fractional Shares and Tax Implications

    In cases where shareholders hold fractional shares following the reverse split, the Fund will redeem those fractional shares for cash at the Fund’s split-adjusted NAV on the Effective Date. This redemption could result in tax consequences, with shareholders potentially recognizing gains or losses based on the redemption of fractional shares. However, apart from this, the reverse split will not be a taxable event for shareholders, and no transaction fees will be charged for the redemption of fractional shares.

    About Tidal Financial Group

    Formed by ETF industry pioneers and thought leaders, Tidal Financial Group set out to revolutionize the way ETFs have historically been developed, launched, managed, marketed, and sold. With a focus on growing AUM, Tidal offers a comprehensive suite of services, proprietary tools, and methodologies designed to bring clients ideas to market. Tidal is an advocate for ETF innovation and is on a mission to provide issuers with the intelligence and tools needed to effectively launch ETFs and optimize growth potential in a highly competitive space. As of September 1, 2024, Tidal managed 172 funds with over $19 billion in AUM.

    For more information, visit Tidal Financial Group.

    About SoFi

    SoFi’s mission is to empower individuals to achieve financial independence and fulfill their ambitions. Financial independence isn’t just about being wealthy; it’s about having your money work for the life you want to live. Everything SoFi does is focused on helping people take control of their finances. SoFi is always innovating and creating solutions that provide the tools and resources needed for them to reach their goals.

    Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus. A prospectus may be obtained by visiting www.sofi.com. Please read the prospectus carefully before you invest.

    Investing involves risk including loss of principal. Please visit each fund’s page for specific fund risks.

    SoFi ETFs are distributed by Foreside Fund Services, LLC.

    The MIL Network –

  • MIL-OSI: EverCommerce Announces Changes to Its Board Of Directors

    Source: GlobeNewswire (MIL-OSI)

    DENVER, Sept. 20, 2024 (GLOBE NEWSWIRE) — EverCommerce Inc. (Nasdaq: EVCM) (the “Company”), a leading provider of SaaS solutions for service SMBs, announced today the appointment of Alexi Wellman to its Board of Directors, effective Monday, September 23, 2024.

    “We are excited to welcome Alexi to our Board of Directors,” said EverCommerce CEO and Chairman of the Board Eric Remer. “Alexi brings extensive experience in operations, financial management, accounting and audit processes and corporate governance that will serve us well in pursuing our growth strategy.”

    Upon joining the EverCommerce Board, Ms. Wellman will serve on the Company’s Audit Committee, bringing substantial expertise from her roles as CEO and CFO of Altbaba, Inc., vice president of finance and global controller at Yahoo Inc., CFO of Nebraska Book Company and practicing CPA and audit partner at KPMG LLP.

    Ms. Wellman also serves on the Board of Directors for public companies including ESS Tech, Inc. (NYSE: GWH) and Werner Enterprises (Nasdaq: WERN), where she is the Chair of both Boards’ Audit Committees.

    “I am thrilled to join the Board of Directors at EverCommerce and apply my financial and governance experience to the Company’s mission of simplifying and empowering the lives of its SMB service business customers,” said Ms. Wellman.

    Alongside this appointment, EverCommerce is also announcing that current Board member Debby Soo will be leaving the Company’s Board, effective October 31, 2024.

    “The Board of Directors, EverCommerce leadership and I thank Debby for her contributions over the past three and a half years,” said Remer. “We appreciate the insight and expertise she brought to the Company.”

    About EverCommerce 

    EverCommerce (Nasdaq: EVCM) is a leading service commerce platform, providing vertically-tailored, integrated SaaS solutions that help more than 690,000 global service-based businesses accelerate growth, streamline operations, and increase retention. Its modern digital and mobile applications create predictable, informed, and convenient experiences between customers and their service professionals. With its EverPro, EverHealth, and EverWell brands specializing in Home, Health, and Wellness service industries, EverCommerce provides end-to-end business management software, embedded payment acceptance, marketing technology, and customer experience applications. Learn more at  EverCommerce.com.

    Investor Contact

    Brad Korch
    SVP and Head of Investor Relations
    720-796-7664
    IR@evercommerce.com

    Media Contact
    Jeanne Trogan
    VP of Communications
    512-705-1293
    Press@evercommerce.com

    The MIL Network –

  • MIL-OSI: iBio Reports Fiscal Year 2024 Financial Results and Provides Corporate Update

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, Sept. 20, 2024 (GLOBE NEWSWIRE) — iBio, Inc. (NYSEA:IBIO), an AI-driven innovator of precision antibody immunotherapies, today announced its financial results for the fiscal year ended June 30, 2024, and provided a corporate update.

    “Our fiscal year 2024 was a transformational year for iBio, as we’ve solidified our business and financial position as a next-generation antibody company with a machine-learning-enabled platform for designing and developing difficult-to-drug therapeutics,” said CEO and Chief Scientific Officer Martin Brenner, Ph.D., DVM. “We made significant progress entering the fast-growing cardiometabolic and obesity space with our collaboration with AstralBio and strengthened our financial position by eliminating our debt associated with the facility and closing a fully subscribed financing including participation from Ikarian Capital, Lynx1 Capital Management, ADAR1 Capital Management, and other institutional and accredited investors. We continued to build our drug discovery platform, adding innovative technologies that are helping to advance our pipeline and provide critical support to our biopharma partners with best-in-class antibody discovery and development projects.”

    Business Developments:

    • Expanded the AI-powered technology stack with the launch of ShieldTx™, a patent-pending antibody masking technology designed to enable specific, highly targeted antibody delivery to diseased tissue without harming healthy tissue.
    • In February, iBio closed the sale of its early-stage PD-1 asset to Otsuka Pharmaceutical Co., Ltd. for $1MM in upfront cash with contingent downstream payments of up to $52.5MM, a pivotal moment that showcased the power of iBio’s platform to discover best-in-class assets.
    • Added bispecific capabilities with its EngageTx™ technology. We advanced a Trop2 x CD3 molecule to clinical candidate selection stage by demonstrating in a humanized mouse model of squamous cell carcinoma, a significant 36 percent reduction in tumor size 14 days after tumor implantation and after a single dose.  Additionally, we leveraged our EngageTx technology and Epitope Steering technology to successfully develop multiple MUC16 x CD3 molecules, which show potent cell killing against ovarian cancer cells.
    • Entered into a collaboration with AstralBio, Inc. to provide an exclusive license in the cardiometabolic and obesity space. iBio will develop four targets of interest with rights to license up to three of these targets prior to entering the clinic.

    Corporate Developments:

    • At the Company’s Special Meeting of Stockholders held on November 27, 2023, iBio’s stockholders authorized a reverse stock split, with a ratio ranging from 1-for-5 to 1-for-20 (the “Range”), with the ratio within such Range to be determined at the discretion of the Board of Directors (the “Board”), and thereafter the Board approved a one for twenty (1-for-20) reverse stock split of the Company’s shares of common stock. The reverse stock split was effective November 29, 2023.
    • Entered into a best-efforts public offering with investors in the fiscal second quarter for gross proceeds of approximately $4.5MM before deducting placement agent fees and offering expenses
    • Entered into a securities purchase agreement for a private investment in public equity financing with several institutional investors and an accredited investor in the fiscal third quarter and consummated the financing in the fiscal fourth quarter for gross proceeds of approximately $15.0MM before deducting placement agent fees and offering expenses.
    • During the third and fourth quarters, strengthened the Company’s cash position after previously issued warrants were exercised for proceeds of approximately $4.5MM.
    • The Company closed the sale of its manufacturing facility located in Bryan, Texas (the “Property”) to the Board of Regents of the Texas A&M University System for $8.5MM. Following the issuance of pre-funded warrants having a value of $4.5MM to the lender, Woodforest National Bank, iBio and its wholly owned subsidiary, iBio CDMO LLC, satisfied all of the conditions of the settlement agreement releasing the Company and its subsidiary of all obligations with respect to the debt secured by the Property, which coupled with the release of approximately $915K in restricted cash previously held by Woodforest, eliminated approximately $13.2MM in secured debt from the Company’s balance sheet.
    • Strengthened its Board of Directors and executive leadership team through the appointments of Dr. Brenner to the Board of Directors, effective June 1, 2024, and Kristi Sarno as Senior Vice President, Business Development, effective August 8, 2024.

    “We ended this fiscal year well-positioned to advance our technology to drive value for patients and shareholders,” said Chief Financial Officer Felipe Duran. “We strengthened our balance sheet through capital raises and debt extinguishment. In fiscal year 2024, we executed transactions which brought in non-dilutive funding, and we continue to pursue business development projects to strengthen our financial position.”

    Financial Results:

    Revenues for the fiscal year ended June 30, 2024, were approximately $0.2 million, an increase of 100% over fiscal 2023.

    R&D and G&A expenses for fiscal 2024 decreased $5.1 million and $7.3 million, respectively, over the comparable period in fiscal 2023. The decrease in R&D and G&A reflects the Company’s cost savings implemented to support its growing investments in its pipeline, platform technologies, employees, and related infrastructure.

    iBio’s consolidated net loss for the fiscal year ended June 30, 2024, was $24.9 million, a decreased loss of $40.1 million compared to 2023 primarily because of the decrease in expenses related to the Company’s discontinued operations and cost saving initiatives.

    iBio held cash, cash equivalents and restricted cash of $14.4 million as of June 30, 2024.

    As disclosed in its Annual Report on Form 10-K for the fiscal year ended June 30, 2024, which was filed on September 20, 2024 with the Securities and Exchange Commission, the audited financial statements contained an audit opinion from its registered public accounting firm that includes an explanatory paragraph related to the Company’s ability to continue as a going concern. See further discussion in footnote 2 to the Company’s financial statements included in the Company’s Annual Report on Form 10-K. This announcement is made pursuant to NYSE American LLC Company Guide Sections 401(h) and 610(b), which requires public announcement of the receipt of an audit opinion containing a going concern paragraph.

    About iBio, Inc.

    iBio is an AI-driven innovator that develops next-generation biopharmaceuticals using computational biology and 3D-modeling of subdominant and conformational epitopes, prospectively enabling the discovery of new antibody treatments for hard-to-target cancers, and other diseases. iBio’s mission is to decrease drug failures, shorten drug development timelines, and open up new frontiers against the most promising targets. For more information, visit www.ibioinc.com.

    FORWARD-LOOKING STATEMENTS

    Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “might,” “will,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions and include statements such as ending the fiscal year being well-positioned to advance the Company’s technology to drive value for patients and shareholders; and continuing to pursue business development projects to strengthen the Company’s financial position. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, many of which are difficult to predict that could cause actual results to differ materially from current expectations and assumptions from those set forth or implied by any forward-looking statements. Important factors that could cause actual results to differ materially from current expectations include, among others, the Company’s ability to successfully advance its technology and continue to pursue business development projects to strengthen the Company’s financial position; its ability to obtain regulatory approvals for commercialization of its product candidates, or to comply with ongoing regulatory requirements; regulatory limitations relating to its ability to promote or commercialize its product candidates for specific indications; acceptance of its product candidates in the marketplace and the successful development, marketing or sale of products; the continued maintenance and growth of its patent estate; its ability to establish and maintain collaborations and attract and increase partnership opportunities; competition; the substantial doubt exists related to the Company’s ability to operate as a going concern; its ability to raise additional capital in order to fully execute the Company’s longer-term business plans and the other factors discussed in the Company’s filings with the SEC including the Company’s Annual Report on Form 10-K for the year ended June 30, 2024. The information in this release is provided only as of the date of this release, and the Company undertakes no obligation to update any forward-looking statements contained in this release on account of new information, future events, or otherwise, except as required by law.

    Contact:

    iBio, Inc. 
    Investor Relations 
    ir@ibioinc.com 

    Susan Thomas 
    iBio, Inc. 
    Media Relations 
    susan.thomas@ibioinc.com  

    iBio, Inc. and Subsidiaries
    Consolidated Statements of Operations and Comprehensive Loss
    (In Thousands, except per share amounts)

                 
        Years Ended
        June 30, 
        2024      2023
                 
    Revenues   $ 225     $ —  
                 
    Operating expenses:            
    Research and development     5,185       10,327  
    General and administrative     11,674       19,016  
    Total operating expenses     16,859       29,343  
                 
    Operating loss     (16,634 )     (29,343 )
                 
    Other income (expense):            
    Interest expense     (172 )     (83 )
    Interest income     363       213  
    Loss on sales of debt securities     —       (98 )
    Gain on sale of intellectual property     1,000       —  
    Total other income     1,191       32  
                 
    Net loss from continuing operations     (15,443 )     (29,311 )
                 
    Loss from discontinued operations     (9,464 )     (35,699 )
                 
    Net loss   $ (24,907 )   $ (65,010 )
                 
    Comprehensive loss:            
    Consolidated net loss   $ (24,907 )   $ (65,010 )
                 
    Other comprehensive loss – unrealized gain on debt securities     —       180  
    Other comprehensive income – foreign currency adjustment     —       33  
                 
    Comprehensive loss   $ (24,907 )   $ (64,797 )
                 
    Loss per common share attributable to iBio, Inc. stockholders – basic and diluted – continuing operations   $ (4.03 )   $ (47.88 )
    Loss per common share attributable to iBio, Inc. stockholders – basic and diluted – discontinued operations   $ (2.47 )   $ (58.31 )
    Loss per common share attributable to iBio, Inc. stockholders – basic and diluted – total   $ (6.50 )   $ (106.19 )
                 
    Weighted-average common shares outstanding – basic and diluted     3,831       612  
                     

    iBio, Inc. and Subsidiaries

    Consolidated Balance Sheets
    (In Thousands, except share and per share amounts)

                 
                 
        June 30, 2024      June 30, 2023
                 
    Assets            
    Current assets:            
    Cash and cash equivalents   $ 14,210     $ 4,301  
    Restricted cash     —       3,025  
    Subscription receivable     —       204  
    Promissory note receivable and accrued interest     713       —  
    Prepaid expenses and other current assets     749       664  
    Current assets held for sale (see Note 3 – Discontinued Operations)     —       18,065  
    Total Current Assets     15,672       26,259  
                 
    Restricted cash     215       253  
    Promissory note receivable     1,081       1,706  
    Finance lease right-of-use assets, net of accumulated amortization     339       610  
    Operating lease right-of-use asset     2,401       2,722  
    Fixed assets, net of accumulated depreciation     3,632       4,219  
    Intangible assets, net of accumulated amortization     5,368       5,388  
    Security deposits     26       50  
    Total Assets   $ 28,734     $ 41,207  
                 
    Liabilities and Stockholders’ Equity            
    Current liabilities:            
    Accounts payable   $ 358     $ 1,849  
    Accrued expenses     2,028       4,561  
    Finance lease obligations – current portion     299       272  
    Operating lease obligation – current portion     436       389  
    Equipment financing payable – current portion     178       160  
    Term promissory note – current portion     218       —  
    Insurance premium financing payable     123       —  
    Term note payable – net of deferred financing costs     —       12,937  
    Contract liabilities     200       —  
    Current liabilities related to assets held for sale     —       1,941  
    Total Current Liabilities     3,840       22,109  
                 
    Finance lease obligations – net of current portion     53       351  
    Operating lease obligation – net of current portion     2,688       3,125  
    Equipment financing payable – net of current portion     63       241  
    Term promissory note – net of current portion     766       —  
                 
    Total Liabilities     7,410       25,826  
                 
    Stockholders’ Equity            
    Series 2022 Convertible Preferred Stock – $0.001 par value; 1,000,000 shares authorized at June 30, 2024 and June 30, 2023; 0 shares issued and outstanding as of June 30, 2024 and June 30, 2023     —       —  
    Common stock – $0.001 par value; 275,000,000 shares authorized at June 30, 2024 and June 30, 2023; 8,623,676 and 1,015,505 shares issued and outstanding as of June 30, 2024 and June 30, 2023, respectively     9       1  
    Additional paid-in capital     335,162       304,320  
    Accumulated deficit     (313,847 )     (288,940 )
    Total Stockholders’ Equity     21,324       15,381  
                 
    Total Equity     21,324       15,381  
    Total Liabilities and Stockholders’ Equity   $ 28,734     $ 41,207  

    The MIL Network –

  • MIL-OSI: Brookfield Corporation Announces Results of Conversion of its Series 40 Preferred Shares

    Source: GlobeNewswire (MIL-OSI)

    BROOKFIELD, NEWS, Sept. 20, 2024 (GLOBE NEWSWIRE) — Brookfield Corporation (NYSE: BN, TSX: BN) today announced that after having taken into account all election notices received by the deadline for the conversion of its Cumulative Class A Preference Shares, Series 40 (the “Series 40 Shares”) (TSX: BN.PF.F) into Cumulative Class A Preference Shares, Series 41 (the “Series 41 Shares”), there were 29,920 Series 40 Shares tendered for conversion, which is less than the one million shares required to give effect to conversion into Series 41 Shares. Accordingly, there will be no conversion of Series 40 Shares into Series 41 Shares and holders of Series 40 Shares will retain their Series 40 Shares.

    About Brookfield Corporation

    Brookfield Corporation is a leading global investment firm focused on building long-term wealth for institutions and individuals around the world. We have three core businesses: Alternative Asset Management, Wealth Solutions, and our Operating Businesses which are in renewable power, infrastructure, business and industrial services, and real estate.

    We have a track record of delivering 15%+ annualized returns to shareholders for over 30 years, supported by our unrivaled investment and operational experience. Our conservatively managed balance sheet, extensive operational experience, and global sourcing networks allow us to consistently access unique opportunities. At the center of our success is the Brookfield Ecosystem, which is based on the fundamental principle that each group within Brookfield benefits from being part of the broader organization. Brookfield Corporation is publicly traded in New York and Toronto (NYSE: BN, TSX: BN).

    For more information, please visit our website at www.bn.brookfield.com or contact:

    Media Investor Relations
       
    Kerrie McHugh Linda Northwood
    Tel: (212) 618-3469 Tel: (416) 359-8647
    Email: kerrie.mchugh@brookfield.com Email: linda.northwood@brookfield.com

    The MIL Network –

  • MIL-OSI: Clover Leaf Capital Corp. Announces Adjournment of Special Meeting of Stockholders on Proposed Business Combination

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, FL and KANSAS CITY, KS, Sept. 20, 2024 (GLOBE NEWSWIRE) — Clover Leaf Capital Corp. (Nasdaq: CLOE) (“CLOE” or “Clover Leaf”), a publicly traded special purpose acquisition company, and Digital Ally, Inc. (Nasdaq: DGLY) (“Digital Ally”) today announced that on September 20, 2024, Clover Leaf convened and then adjourned, without conducting other business, its special meeting of its stockholders in lieu of its 2024 Annual Meeting of Stockholders (the “Meeting” ) to 10:00 a.m., Eastern Time on Friday, September 27, 2024. At the meeting, stockholders of Clover Leaf will be asked to vote on proposals to approve, among other things, its proposed initial business combination (the “Business Combination”) with Kustom Entertainment, Inc., a Nevada corporation (“Kustom Entertainment” or the “Company”), pursuant to an Agreement and Plan of Merger (as amended, the “Merger Agreement”), by and among Clover Leaf, CL Merger Sub, Inc., a Nevada corporation and a wholly-owned subsidiary of Clover Leaf (“Merger Sub”), Yntegra Capital Investments LLC, a Delaware limited liability company, in the capacity as the Purchaser Representative (as defined in the Merger Agreement) and Digital Ally, Inc., a Nevada corporation and the sole stockholder of the Company (“Digital Ally”). There is no change to the location, the record date, the purpose or any of the proposals to be acted upon at the Meeting.

    As a result of this change, the Meeting will now be held at 10:00 a.m. Eastern Time on Friday, September 27, 2024 via the live webcast at https://www.cstproxy.com/cloverlcc/bc2024. Also as a result of this change, the deadline for holders of Clover Leaf’s Class A common stock issued in Clover Leaf’s initial public offering to submit their shares for redemption in connection with the Business Combination, is being extended to 5:00 p.m. Eastern Time on Wednesday, September 25, 2024. The record date for Clover Leaf’s stockholders to vote in the Meeting remains July 24, 2024.

    Clover Leaf plans to continue to solicit proxies from stockholders during the period prior to the Meeting. Only the holders of the Clover Leaf’s common stock as of the close of business on July 24, 2024, the record date for the Meeting, are entitled to vote at the Meeting.

    If any Clover Leaf stockholder has any questions or need assistance, such stockholder should (i) reach out to his, her or its broker or (ii) contact Morrow Sodali LLC, Clover Leaf’s proxy solicitor, for assistance via e-mail at CLOE.info or toll-free call at 800-662-5200. Banks and brokers can place a collect call to Morrow Sodali LLC at 203-658-9400 or email at CLOE.info@investor.morrowsodali.com.

    About Kustom Entertainment, Inc.

    Kustom Entertainment, Inc., a recently formed wholly-owned subsidiary of Digital Ally, will provide oversight to currently wholly-owned subsidiaries TicketSmarter, Kustom 440, and BirdVu Jets.

    TicketSmarter offers tickets to more than 125,000 live events ranging from concerts to sports and theatre shows. TicketSmarter is the official ticket resale partner of over 35 collegiate conferences, over 300 universities, and hundreds of events and venues nationally. TicketSmarter is a primary and secondary ticketing solution for events and high-profile venues across North America. For more information on TicketSmarter, visit www.Ticketsmarter.com.

    Established in late 2022, Kustom 440 is an entertainment division of Kustom Entertainment, Inc., whose mission it is to attract, manage and promote concerts, sports and private events. Kustom 440 is unique in that it brings a primary and secondary ticketing platform, in addition to its well-established relationships with artists, venues, and municipalities. For more information on Kustom 440, visit www.Kustom440.com.

    Kustom Entertainment operates through its wholly-owned subsidiaries TicketSmarter, Inc. (“TicketSmarter”), Kustom 440, Inc. (“Kustom 440”), and BirdVu Jets, Inc. (“BirdVu Jets”). Following the closing of the Business Combination, TicketSmarter, Kustom 440, and BirdVu Jets will combine their management teams and focus on concerts, entertainment and garnering additional ticketing partnerships, as well as using existing sponsorships and sports property partnerships to develop alternative entertainment options for consumers.

    About Clover Leaf Capital Corp.

    Clover Leaf Capital Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

    For more information, contact:

    Stanton E. Ross, CEO
    Info@kustoment.com
    Info@cloverlcc.com

    Forward-Looking Statements

    This press release contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1955. These forward-looking statements include, without limitation, CLOE’s and Kustom Entertainment’s expectations with respect to the proposed business combination between CLOE and Kustom Entertainment, including statements regarding the benefits of the transaction, the anticipated timing of the transaction, the implied valuation of Kustom Entertainment, the products offered by Kustom Entertainment and the markets in which it operates, and Kustom Entertainment’s projected future results. Words such as “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Most of these factors are outside CLOE’s and Kustom Entertainment’s control and are difficult to predict. Factors that may cause actual future events to differ materially from the expected results, include, but are not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of CLOE’s securities, (ii) the risk that the transaction may not be completed by CLOE’s business combination deadline, even if extended by its stockholders, (iii) and the potential failure to obtain an extension of the business combination deadline if sought by Clover Leaf; (iv) the failure to satisfy the conditions to the consummation of the transaction, including the adoption of the agreement and plan of merger (“Merger Agreement”) by the stockholders of CLOE, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (vi) the failure to obtain any applicable regulatory approvals required to consummate the business combination; (vii) the receipt of an unsolicited offer from another party for an alternative transaction that could interfere with the business combination, (viii) the effect of the announcement or pendency of the transaction on Kustom Entertainment’s business relationships, performance, and business generally, (ix) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition and the ability of the post-combination company to grow and manage growth profitability and retain its key employees, (x) costs related to the business combination, (xi) the outcome of any legal proceedings that may be instituted against Kustom Entertainment or CLOE following the announcement of the proposed business combination, (xii) the ability to maintain the listing of CLOE’s securities on the Nasdaq prior to the business combination, (xiii) the ability to implement business plans, forecasts, and other expectations after the completion of the proposed business combination, and identify and realize additional opportunities, (xiv) the risk of downturns and the possibility of rapid change in the highly competitive industry in which Kustom Entertainment operates, (xv) the risk that demand for Kustom Entertainment’s services may be decreased due to a decrease in the number of large-scale sporting events, concerts and theater shows, (xvi) the risk that any adverse changes in Kustom Entertainment’s relationships with buyer, sellers and distribution partners may adversely affect the business, financial condition and results of operations, (xvii) the risk that Changes in Internet search engine algorithms and dynamics, or search engine disintermediation, or changes in marketplace rules could have a negative impact on traffic for Kustom Entertainment’s sites and ultimately, its business and results of operations; (xviii) the risk that any decrease in the willingness of artists, teams and promoters to continue to support the secondary ticket market may result in decreased demand for Kustom Entertainment’s services; (xix) the risk that Kustom Entertainment is not able to maintain and enhance its brand and reputation in its marketplace, adversely affecting Kustom Entertainment’s business, financial condition and results of operations, (xx) the risk of the occurrence of extraordinary events, such as terrorist attacks, disease epidemics or pandemics, severe weather events and natural disasters, (xxi) the risk that because Kustom Entertainment’s operations are seasonal and its results of operations vary from quarter to quarter and year over year, its financial performance in certain financial quarters or years may not be indicative of, or comparable to, Kustom Entertainment’s financial performance in subsequent financial quarters or years; (xxii) the risk that periods of rapid growth and expansion could place a significant strain on Kustom Entertainment’s resources, including its employee base, which could negatively impact Kustom Entertainment’s operating results; (xxiii) the risk that Kustom Entertainment may never achieve or sustain profitability; (xxiv) the risk that Kustom Entertainment may need to raise additional capital to execute its business plan, which many not be available on acceptable terms or at all; (xxv) the risk that third-parties suppliers and manufacturers are not able to fully and timely meet their obligations, (xxvi) the risk that Kustom Entertainment is unable to secure or protect its intellectual property, (xxvii) the risk that the post-combination company’s securities will not be approved for listing on Nasdaq or if approved, maintain the listing and (xxviii) other risks and uncertainties indicated from time to time in the proxy statement and/or prospectus relating to the business combination, including those under the “Risk Factors” section therein and in CLOE’s other filings with the SEC. The foregoing list of factors is not exhaustive. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Kustom Entertainment and CLOE assume no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

    Important Information and Where to Find It

    In connection with the transaction, CLOE has filed the Registration Statement with the SEC, which includes a proxy statement to be distributed to holders of CLOE’s common stock in connection with CLOE’s solicitation of proxies for the vote by CLOE’s stockholders with respect to the transaction and other matters as described in the Registration Statement, as well as a prospectus relating to the offer of the securities to be issued to Kustom Entertainment’s stockholder in connection with the transaction. Before making any voting or investment decision, investors and security holders and other interested parties are urged to read the Registration Statement, any amendments thereto and any other documents filed with the SEC carefully and in their entirety because they contain important information about CLOE, Kustom Entertainment and the transaction. Investors and security holders may obtain free copies of the proxy statement/prospectus and other documents filed with the SEC by CLOE through the website maintained by the SEC at http://www.sec.gov, or by directing a request to: 1450 Brickell Avenue, Suite 2520, Miami, FL 33131.

    Participants in Solicitation

    CLOE and Kustom Entertainment and their respective directors and certain of their respective executive officers and other members of management and employees may be considered participants in the solicitation of proxies with respect to the transaction. Information about the directors and executive officers of CLOE is set forth in its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the SEC on March 22, 2024. Additional information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, are included in the proxy statement/ prospectus and other relevant materials to be filed with the SEC regarding the transaction. Stockholders, potential investors and other interested persons should read the proxy statement/prospectus carefully before making any voting or investment decisions. These documents can be obtained free of charge from the sources indicated above.

    No Offer or Solicitation

    This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination. This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended, or an exemption therefrom.

    The MIL Network –

  • MIL-OSI Asia-Pac: DFS drives expansion of digital payments in India and abroad

    Source: Government of India

    DFS drives expansion of digital payments in India and abroad

    Digital payment transactions volume grew to 18,737 crore in FY 2023-24 from 2,071 crore in FY 2017-18 at Compounded Annual Growth Rate (CAGR) of 44%; with value of transactions at ₹3,659 lakh crore in FY23-24 from ₹1,962 lakh crore in FY17-18 at CAGR of 11%

    UPI transactions volume grew to 13,116 crore in FY 2023-24 from 92 crore in FY 2017-18 at CAGR of 129%; with value of UPI transactions reaching ₹200 lakh crore trillion in FY23-24 from ₹1 lakh crore in FY17-18 at CAGR of 138%

    UPI now seamlessly facilitates live transactions in 7 countries, including key markets such as UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, and Mauritius

    Posted On: 20 SEP 2024 3:31PM by PIB Delhi

    The Department of Financial Services (DFS), Ministry of Finance, plays a critical role in driving the promotion of digital payments in the country.

    Efforts to accelerate the adoption of fast payment system like the Unified Payments Interface (UPI) has revolutionised the way financial transactions are conducted, enabling real-time, secure, and seamless payments for millions.

    This initiative aligns with the Government’s vision of a cashless and inclusive economy, empowering every citizen in their financial decision.

    In comparison with previous fiscal years, the digital payments landscape has demonstrated remarkable expansion in Financial Year (FY) 2023-24. Key insights include:

    Growth in Digital Payment Transactions:

    Digital payments in India have witnessed significant growth, with the total number of digital payment transactions volume increased from 2,071 crore in FY 2017-18 to 18,737 crore in FY 2023-24 at Compounded Annual Growth Rate (CAGR) of 44%. Furthermore, during the last 5 months (April-August) of the current financial year 2024-25, the transaction volume has reached to 8,659 crore.

    Source: RBI, NPCI & Banks

    The value of transactions has grown from ₹1,962 lakh crore to ₹3,659 lakh crore at CAGR of 11%. Additionally, in the last 5 months (April-August) of the current financial year 2024-25, the total transaction value has surged to an impressive ₹1,669 lakh crore.

    Source: RBI, NPCI & Banks

    UPI’s Continued Success:

    UPI remains the cornerstone of India’s digital payment ecosystem. UPI has revolutionised digital payments in the country, UPI transactions have grown from 92 crore in FY 2017-18 to 13,116 crore in FY 2023-24 at CAGR of 129%. Furthermore, during the last 5 months (April-August) of the current Financial Year 2024-25, the transaction volume has reached 7,062 crore.

    The ease of use facilitated by growing network of participating banks and fintech platforms, has made UPI the most preferred mode of real-time payments for millions of users across the country.

    Source: NPCI

    The value of UPI transactions has grown from ₹1 lakh crore to ₹200 lakh crore at CAGR of 138%. Additionally, in the last 5 months (April-August FY2024-25), the total transaction value has surged to an impressive ₹101 lakh crore.

    Source: NPCI

    UPI: P2M and P2P Transactions (by Volume in crore) for Aug 2024

    The contribution of P2M transactions reached 62.40% in Aug’ 2024, where 85% of these transactions are up to a value of ₹500. This indicates the trust that UPI enjoys among citizens for making low value payments.

    UPI and RuPay Global Expansion:

    India’s digital payments revolution is extending beyond its borders. Both UPI and RuPay are rapidly expanding globally, enabling seamless cross-border transactions for Indians living and traveling abroad. Presently, UPI is live in 7 countries, including key markets such as UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius, allowing Indian consumers and businesses to make and receive payments internationally. This expansion will further bolster remittance flows, improve financial inclusion, and elevate India’s stature in the global financial landscape. As per ACI Worldwide Report 2024, in 2023 around 49% of the global real-time payment transactions is happening in India.

    India is rapidly emerging as a global leader in digital payments. With UPI’s global expansion and the continued rise of digital transactions, India is setting new benchmarks for financial inclusion and economic empowerment of common citizen.

    Department of Financial Services remains committed to advancing digital payment solutions that are secure, scalable, and inclusive, while also exploring new avenues to strengthen India’s position in the global financial ecosystem.

    ****

    NB/KMN

    (Release ID: 2057013) Visitor Counter : 68

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Congressman Al Green Hosts Acting Secretary of Labor Julie Su in Houston for Labor Legislative Update and Breakfast Assembly

    Source: United States House of Representatives – Congressman Al Green (TX-9)

    (Houston, TX) — On Thursday, September 5, 2024, Congressman Al Green will welcome Cabinet Member and Acting Secretary of Labor Julie A. Su to the Ninth Congressional District of Texas as a special guest speaker for his annual labor legislative update and breakfast assembly.The program will include labor leaders in the region to discuss labor and union issues as well as work the Biden administration has done related to the families of union workers. The event will be held at the Wyndham Hotel near NRG Park at 8686 Kirby Drive, Houston, Texas. The program will start at 8:00 a.m. CT, followed by a press conference at 10:00 a.m.

    “I am proud to join Rep. Green in Houston as we continue to fight for each and every worker in this country,” said U.S. Acting Secretary of Labor Julie Su. “As the most pro-worker, pro-union administration in history, the Biden-Harris administration remains committed to enforcing the law, ensuring workers can utilize their right to organize, supporting workers at the bargaining table, and creating pathways that ensure everyone has access to a good job.”

    “It’s an honor to have Acting Secretary of Labor Julie Su in the Ninth Congressional District of Texas. As we celebrate Labor Day, it is important to recognize the contributions of labor unions’ crucial role in building and safeguarding the rights of American workers, including their wages, benefits, and working conditions. The bipartisan Infrastructure Investment and Jobs Act championed by President Biden has facilitated the creation of new jobs, particularly union jobs that are accessible to all Americans,” stated Congressman Al Green. “In Texas alone, $153.2 billion has been invested by the private sector along with $34.2 billion of public investments in clean energy, infrastructure, and manufacturing, creating more good paying employment opportunities for Texans. We must continue to advocate for the labor unions that protect workers, power the American economy, and strengthen the lives of Americans.”

    Click here to watch the Facebook Live Stream of the press conference at 10:00 a.m. CT.

    MIL OSI USA News –

  • MIL-OSI Security: Moosomin — Update #2: Moosomin RCMP on scene of serious motor vehicle collision

    Source: Royal Canadian Mounted Police

    On September 18, 2024 at approximately 9:30 p.m., Moosomin RCMP received a report of a two-vehicle collision on Highway #1, approximately 2 kilometers east of Wapella, SK.

    Officers responded along with local fire and EMS. Investigation determined a semi and truck collided. The passenger in the truck was declared deceased by EMS at the scene. She has been identified as a 22-year-old female from Grand Prairie, AB. Her family has been notified.

    The driver of the truck was transported to hospital by EMS with injuries described as non-life threatening.

    The driver of the semi reported no physical injuries to police.

    As a result of investigation, 21-year-old Zachory Taylor from Codette, SK is charged with:

    • one count, operation while impaired of motor vehicle causing death, Section 320.14(3), Criminal Code;
    • one count, operation while prohibited, Section 320.18, Criminal Code; and
    • one count, dangerous operation of motor vehicle, Section 320.13(1), Criminal Code.

    Zachory Taylor was also arrested on outstanding warrants from Nipawin RCMP and Weyburn Police Service.

    Zachory Taylor is scheduled to appear in Yorkton Provincial Court on September 23, 2024 (Information #90527573).

    Moosomin RCMP continue to investigate with the assistance of a Saskatchewan RCMP collision reconstructionist

    MIL Security OSI –

  • MIL-OSI Security: Ohio Restaurant Owner Convicted of Employment Tax Crimes

    Source: United States Attorneys General 1

    After five days of trial, a federal jury convicted Richard Bhoolai, 65, of Cincinnati, today for failing to pay taxes he withheld from employees’ wages at three restaurants he owned and operated. 

    According to evidence presented at trial, Bhoolai owned and operated Richie’s Fast Food Restaurants Inc., an S-Corporation used to operate three fried chicken restaurants in the Cincinnati area since 1991. Bhoolai was responsible for withholding Social Security, Medicare and income taxes from employees’ wages and paying those funds over to the IRS. Bhoolai employed between 22 and 34 employees between at least 2017 and 2018. During that time, he withheld taxes from employees’ wages but did not pay them over to the IRS. Prior to that time, Bhoolai had not paid over such taxes from earlier years and the IRS had assessed a penalty against him for failing to do so. Instead of paying over the taxes, Bhoolai used money from the businesses for his personal benefit, including gambling.

    The jury found Bhoolai guilty of eight counts of failing to pay over taxes for four quarters in 2017 and four quarters in 2018. Bhoolai’s sentencing date has not yet been set. He faces a maximum penalty of five years in prison for each failure to pay taxes count. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors. U.S. District Judge Douglas R. Cole for the Southern District of Ohio presided over the jury trial.

    Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division and U.S. Attorney Kenneth Parker for the Southern District of Ohio made the announcement.

    IRS Criminal Investigation investigated the case.

    Trial Attorney Alexandra K. Fleszar of the Justice Department’s Tax Division and Assistant U.S. Attorney Ebunoluwa Taiwo for the Southern District of Ohio prosecuted the case.

    MIL Security OSI –

  • MIL-OSI USA: Ohio Restaurant Owner Convicted of Employment Tax Crimes

    Source: US State of Vermont

    After five days of trial, a federal jury convicted Richard Bhoolai, 65, of Cincinnati, today for failing to pay taxes he withheld from employees’ wages at three restaurants he owned and operated. 

    According to evidence presented at trial, Bhoolai owned and operated Richie’s Fast Food Restaurants Inc., an S-Corporation used to operate three fried chicken restaurants in the Cincinnati area since 1991. Bhoolai was responsible for withholding Social Security, Medicare and income taxes from employees’ wages and paying those funds over to the IRS. Bhoolai employed between 22 and 34 employees between at least 2017 and 2018. During that time, he withheld taxes from employees’ wages but did not pay them over to the IRS. Prior to that time, Bhoolai had not paid over such taxes from earlier years and the IRS had assessed a penalty against him for failing to do so. Instead of paying over the taxes, Bhoolai used money from the businesses for his personal benefit, including gambling.

    The jury found Bhoolai guilty of eight counts of failing to pay over taxes for four quarters in 2017 and four quarters in 2018. Bhoolai’s sentencing date has not yet been set. He faces a maximum penalty of five years in prison for each failure to pay taxes count. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors. U.S. District Judge Douglas R. Cole for the Southern District of Ohio presided over the jury trial.

    Acting Deputy Assistant Attorney General Stuart M. Goldberg of the Justice Department’s Tax Division and U.S. Attorney Kenneth Parker for the Southern District of Ohio made the announcement.

    IRS Criminal Investigation investigated the case.

    Trial Attorney Alexandra K. Fleszar of the Justice Department’s Tax Division and Assistant U.S. Attorney Ebunoluwa Taiwo for the Southern District of Ohio prosecuted the case.

    MIL OSI USA News –