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Category: Finance

  • MIL-OSI Security: Dulce Man Indicted for Federal Assault Resulting in Serious Bodily Injury

    Source: Office of United States Attorneys

    ALBUQUERQUE – A Dulce man has been charged by indictment with assault following an alleged incident that left the victim with severe injuries.

    According to court documents, on February 1, 2025, James William Julian, 25, an enrolled member of the Jicarilla Apache Nation, assaulted and seriously injured John Doe.

    Julian is charged with assault resulting in serious bodily injury and will remain in custody pending trial, which has not been set. If convicted, Julian faces up to 10 years in prison.

    U.S. Attorney Ryan Ellison and Philip Russell, Acting Special Agent in Charge of the Federal Bureau of Investigation’s Albuquerque Field Office, made the announcement today.

    The Farmington Resident Agency of the Federal Bureau of Investigation’s Albuquerque Field Office investigated this case with assistance from the Jicarilla Apache Police Department. Assistant U.S. Attorney Meg Tomlinson is 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 Security OSI –

  • MIL-OSI Security: Orlando Doctor Pleads Guilty To Offering To Inject Silicone Oil For Gluteal Augmentation Procedure

    Source: Office of United States Attorneys

    Orlando, Florida – United States Attorney Gregory W. Kehoe announces that Nhan Pham (54, Orlando) has pleaded guilty to receipt in interstate commerce and proffered delivery of an adulterated device, in violation of the Federal Food, Drug, and Cosmetic Act. Pham faces a maximum penalty of three years in federal prison. The sentencing hearing is set for August 14, 2025.

    According to the plea agreement, between 2015 and 2019, Pham, a physician who performed various cosmetic surgical and non-surgical procedures, ordered silicone oil online and injected that silicone into his patients for gluteal and buttock enhancement procedures at his office and residence. The U.S. Food and Drug Administration (“FDA”) has not approved the use of injectable silicone for body contouring or enhancement and has issued warnings to the public advising them of the illegality of and health risks associated with silicone injections.

    Pham inaccurately represented to his patients before performing the procedures that the substance he was injecting into their bodies was “safe,” “natural,” and would dissolve over time. After receiving the silicone oil injections, patients experienced complications, such as sharp and severe pain, discomfort, discoloration, itchiness, burning, inflammation, soreness, and hardness in the injection areas. On September 24, 2019, Pham offered to perform silicone oil injections on an undercover law enforcement agent.

    This case was investigated by the FDA Office of Criminal Investigations and the Metropolitan Bureau of Investigation, with assistance from the Pasco Sheriff’s Office and the United States Marshals Service. It is being prosecuted by Assistant United States Attorney Diane Hu.

    MIL Security OSI –

  • MIL-OSI Security: Former Firefighter Sentenced for Distributing Child Sexual Abuse Material Online

    Source: Office of United States Attorneys

    WILMINGTON, N.C. – A former volunteer firefighter from Wake Forest was sentenced Wednesday to more than 12 years (151 months) in prison followed by 5 years of supervised release for distribution, receipt and possession of child sexual abuse material.  Royce Cosmo Fuoco, 49, plead guilty on October 8, 2024, to ten counts of Distribution of Child Sexual Abuse Material, one count of Receipt of Child Sexual Abuse Material, and one count of Possession of Child Sexual Abuse Material.

    According to court documents and other information presented in court, Fuoco was investigated by the Federal Bureau of Investigations (FBI) after receiving a cyber tip from the National Center for Missing and Exploited Children (NCMEC) that someone with the username “ncfirefighter07” on the social media application Kik had distributed at least 30 videos containing child sexual abuse material.  Law enforcement executed a search warrant for the Kik account and found that user “ncfirefighter07” had 441 instances of distribution of child sexual abuse material to both individuals and groups on the Kik platform.  Law enforcement linked that Kik account to Royce Fuoco, a former volunteer firefighter for the Wake Forest Fire Department.

    Law enforcement executed a search warrant at Fuoco’s house.  Several digital devices seized contained child sexual abuse material and evidence of his distribution of the material.  Fuoco admitted to law enforcement that he obtained child sexual abuse material in Kik chat groups.  Fuoco said he was bored while working from home, and he would obtain the child sexual abuse material and then send it to other users.

    Daniel P. Bubar, Acting U.S. Attorney for the Eastern District of North Carolina made the announcement after sentencing by Chief U.S. District Judge Richard E. Myers II. The Federal Bureau of Investigation investigated the case and Assistant U.S. Attorney Charity Wilson prosecuted the case.

    Related court documents and information can be found on the website of the U.S. District Court for the Eastern District of North Carolina or on PACER by searching for Case No. 5:24-CR-229.

    ###

    MIL Security OSI –

  • MIL-OSI Security: Jacksonville Man Indicted For Attempted Enticement Of A Minor To Engage In Sexual Activity

    Source: Office of United States Attorneys

    Jacksonville, Florida – United States Attorney Gregory W. Kehoe announces the return of an indictment charging Trevor Wood (31, Jacksonville) with attempted online enticement of a minor to engage in sexual activity. If convicted, Wood faces a minimum penalty of 10 years, up to life, in federal prison. 

    According to the indictment, between January 7 and April 18, 2025, Wood used a cellphone and the internet to attempt to persuade, induce, entice, and coerce an individual who he believed to be younger than 18-years-old to engage in sexual activity.

    An indictment is merely a formal charge that a defendant has committed one or more violations of federal criminal law, and every defendant is presumed innocent unless, and until, proven guilty.

    This case was investigated by the Federal Bureau of Investigation. It will be prosecuted by Assistant United States Attorney Diane Hu.

    This case was brought as part of Project Safe Childhood, a nationwide initiative launched in May 2006 by the Department of Justice to combat the growing epidemic of child sexual exploitation and abuse. Led by United States Attorneys’ Offices and the Criminal Division’s Child Exploitation and Obscenity Section (CEOS), Project Safe Childhood marshals federal, state, and local resources to locate, apprehend, and prosecute individuals who sexually exploit children, and to identify and rescue victims. For more information about Project Safe Childhood, please visit www.justice.gov/psc.

    MIL Security OSI –

  • MIL-OSI Security: La Jara Man Admits to Decades-Long Pattern of Sexual Abuse of Minors

    Source: Federal Bureau of Investigation (FBI) State Crime News

    ALBUQUERQUE – A La Jara man pleaded guilty in federal court to three counts of aggravated sexual abuse involving minors.

    According to court records, Ronald Mescal, 62, an enrolled member of the Navajo Nation, engaged in sexual abuse of three minors using force at various locations between July 1, 1992, and August 1, 1996; May 1, 1995, and August 1, 1995; and September 22, 2009, and September 22, 2016, when each victim was under the age of 18.

    At sentencing, Mescal faces any term of years up to life in prison, followed by not less than five years of supervised release.

    U.S. Attorney Ryan Ellison and Philip Russel, Acting Special Agent in Charge of the Federal Bureau of Investigation’s Albuquerque Field Office made the announcement today.

    The Gallup Resident Agency of the Federal Bureau of Investigation’s Albuquerque Field Office investigated this case with assistance from the Navajo Police Department and Navajo Department of Criminal Investigations, and the Bureau of Indian Affairs. Assistant United States Attorney Robert James Booth II is prosecuting the case.

    MIL Security OSI –

  • MIL-OSI Security: Phoenix FBI Makes Multiple Arrests as Part of Nationwide Effort to Capture Child Sex Abuse Offenders

    Source: Federal Bureau of Investigation (FBI) State Crime Alerts (b)

    The FBI has concluded a national surge of resources to arrest accused child sex abuse offenders and combat child exploitation. The initiative called Operation Restore Justice was a coordinated effort by every FBI field office across the country. 205 people were arrested nationwide.

    The Phoenix Field Office arrested six people during the time of this operation last week, with the core days being April 28 through May 2, including:

    • A subject in Sells, Arizona, for allegedly surreptitiously recording and taking photographs of his girlfriend’s two daughters, one of whom was a minor, while they were sleeping in their bedrooms.
    • A subject in Clarkdale, Arizona, for alleged online enticement of multiple victims, all of whom were minors, and production of child pornography.
    • A subject in Phoenix, Arizona, for the alleged possession and distribution of child pornography.
    • A subject on the Salt River Indian Reservation for the alleged production and possession of child pornography, and sexual abuse of a minor. 
    • A subject on the Navajo Nation in Arizona for the alleged aggravated sexual abuse of a child.
    • A subject in Tucson, Arizona, was allegedly distributing child sexual abuse material (CSAM) on a popular social media network. When a search warrant was served on the subject’s home related to the CSAM, cocaine and automatic weapons were discovered.

    “Operation Restore Justice underscored our unwavering commitment to protecting children,” said FBI Phoenix Special Agent in Charge Jose A. Perez. “Every arrest in these child sexual abuse cases not only delivers justice—it sends a powerful message: crimes against children will not be tolerated.”

    The initiative last week was a joint effort of federal, state, and local partners that coincided with Child Abuse Prevention Month and highlights the FBI’s ongoing efforts to confront these crimes.

    Operation Restore Justice, while just a few days in length, served to highlight the fact that investigating child sex abuse is an ongoing, high-priority mission of the FBI.

    In 2024, FBI Phoenix Violent Crimes Against Children (VCAC) special agents and task force officers arrested 71 alleged child predators and either identified and/or located 75 children identified as victims of abuse.

    The FBI’s (VCAC) program coordinates and bolsters efforts to counter threats of abuse and exploitation of children that fall under FBI jurisdiction—including the production, sharing, and possession of child sexual abuse material; domestic and/or international travel to engage sexually with children; and the extortion of children to provide sexually explicit material of themselves. VCAC also helps to identify, locate, and recover child victims and strengthen partnerships that are critical to prevent abuse and capture offenders.

    The FBI investigates cases through Child Exploitation and Human Trafficking Task Forces (CEHTTFs) located in each field office, allowing the FBI to combine resources with federal, state, and local law enforcement agencies. The FBI also partners with the nonprofit National Center for Missing and Exploited Children (NCMEC), which receives and shares tips about possible child sexual exploitation received through its 24-hour hotline at 1-800-THE-LOST and on missingkids.org.

    In 2004, the FBI created the Endangered Child Alert Program (ECAP) to identify people involved in the sexual abuse of children and the production of child sexual abuse material. The program is a collaborative effort between the FBI and the NCMEC.

    To submit a tip about the potential exploitation of a child, call 1-800-CALL-FBI (225-5324), visit tips.fbi.gov, or call the FBI’s Phoenix Field Office at 623-466-1999.

    MIL Security OSI –

  • MIL-OSI: Subsea 7 S.A. announces changes to Board composition

    Source: GlobeNewswire (MIL-OSI)

    Luxembourg – 8 May 2025 – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the election of Lucia Andrade as a Non-Executive Director at the 2025 annual general meeting of shareholders (AGM) and the decision of Jean Cahuzac to retire from his position as Non-Executive Director with immediate effect.

    Jean has served on the Board since 2008, and was also CEO of Subsea7 until 31 December 2019. The Board would like to thank him for his commitment and valuable contribution to Subsea7.

    Jean was a member of the Compensation Committee and the Tender Committee and changes to committee memberships will be discussed at the next meeting of the Board, later this month.

    *******************************************************************************
    Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.
    Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.

    *******************************************************************************

    Contact for investment community enquiries:
    Katherine Tonks
    Investor Relations Director
    Tel +44 20 8210 5568
    ir@subsea7.com
    agm@subsea7.com

    This information is subject of the disclosure requirements of the Norwegian Securities Trading Act.
    This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 8 May 2025 at 17:00 CET.

    Attachment

    The MIL Network –

  • MIL-OSI: Subsea 7 S.A. – 2025 AGM and EGM

    Source: GlobeNewswire (MIL-OSI)

    Luxembourg – 8 May 2025 – Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY, the Company) today announced that, at the 2025 annual general meeting of shareholders (AGM) on 8 May 2025, all resolutions were approved, including the payment of a dividend of NOK 13.00 per common share, to be paid in two equal instalments.

    In addition, at the subsequent extraordinary general meeting of shareholders (EGM) on the same day, both proposed resolutions, which related to (i) to the authority of the Board of Directors to repurchase and, as the case may be, to subsequently cancel Company shares and reduce the issued share capital accordingly and (ii) the renewal of authorisation for the Board of Directors to issue new shares and to limit or suppress preferential subscription rights, for up to 10% of the issued share capital, were approved.

    The minutes of both the AGM and EGM which detail the resolutions passed and the result of the votes cast in relation to each resolution and the changes to the Company’s articles of association are attached hereto. The minutes can also be found on the Company’s website.

    *******************************************************************************
    Subsea7 is a global leader in the delivery of offshore projects and services for the evolving energy industry, creating sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs.

    Subsea7 is listed on the Oslo Børs (SUBC), ISIN LU0075646355, LEI 222100AIF0CBCY80AH62.

    *******************************************************************************

    Contact for investment community enquiries:
    Katherine Tonks
    Investor Relations Director
    Tel +44 20 8210 5568
    ir@subsea7.com
    agm@subsea7.com

    This information is subject to the disclosure requirements of the Norwegian Securities Trading Act. 
    This stock exchange release was published by Katherine Tonks, Investor Relations, Subsea7, on 8 May 2025 at 17:15 CET.

    Attachments

    The MIL Network –

  • MIL-OSI Economics: Samsung Shop App: Making Mother’s Day Shopping Easier Than Ever

    Source: Samsung

     
    This Mother’s Day, Samsung is helping you celebrate the most important woman in your life with ease and style through the Samsung Shop App – a powerful online platform designed to simplify your shopping experience and help you find the perfect gift. The Samsung Shop App has you covered with;
     
    Up to 30% off mother’s day gift ideas
    An EXTRA 10% off your first order on the Samsung Shop App
    Free delivery
    Flexibile finance to spread the cost of your favourite tech at your convenience
     
    The Samsung Shop App offers a full range of Samsung products – from cutting-edge mobile devices and stylish wearables to home appliances that bring both function and joy. It’s the ultimate tool to make shopping for mom thoughtful, seamless, and stress-free.
     

     
    If you find yourself shopping last minute, you’re in luck because you can avoid the hassle of in-store crowds this Mother’s Day by browsing the Samsung Shop App from the comfort of your home. With just a few taps, you can explore gift ideas, access limited-time deals, and enjoy a smooth checkout process with multiple payment options.
     
    Here’s why the Samsung Shop App is the perfect gifting platform this Mother’s Day:
     
    Free Delivery: Get your new Samsung products delivered to your door at no cost to you.
    Exclusive In-App Deals: Enjoy access to special offers available only through the app.
    Flexible Finance: Choose from a variety of secure payment methods and flexible finance such as PayJustNow, Mobicred, Float and more.
    Samsung Rewards: Earn Bonus Samsung Rewards when you purchase selected products that could well be the perfect tech gift for mom.
    Wide Product Range: From smartphones to smartwatches, kitchen appliances to tablets – discover everything mom might love, all in one place.
    Personalised Recommendations: The app suggests gifts based on your preferences and browsing history, making it easy to find something special.
    Order Tracking and Delivery Updates: Stay updated on your order status with real-time notifications and shipping details.
    24/7 Customer Support: Need help? Access expert assistance at any time, right from the app.
     
    Whether you’re gifting a new smartphone, a time-saving appliance, or a stylish wearable, the Samsung Shop App makes it easy to show your appreciation for mom in a meaningful way.
     
    Download the Samsung Shop App today from the Google Play Store or Apple Play Store, visit https://www.samsung.com/za/offer/mothers-day to discover exclusive Mother’s Day offers and gift ideas that are just a tap away.

    MIL OSI Economics –

  • MIL-OSI USA: News 05/8/2025 Blackburn, Bennet, Tillis, Coons Introduce Bill to Bolster Domestic Semiconductor Supply Chains

    US Senate News:

    Source: United States Senator Marsha Blackburn (R-Tenn)

    WASHINGTON, D.C. – Today, U.S. Senators Marsha Blackburn (R-Tenn.), Michael Bennet (D-Colo.), Thom Tillis (R-N.C.), and Chris Coons (D-Del.) introduced the bipartisan Strengthening Essential Manufacturing and Industrial (SEMI) Investment Act to expand tax incentives for semiconductor facilities to include upstream materials suppliers. This would help protect U.S. defense supply chains by supporting domestic investment and reducing reliance on foreign adversaries like Communist China.

    “Communist China has rapidly increased its grip on semiconductor production, threatening America’s economy and national security,” said Senator Blackburn. “The SEMI Investment Actwould boost manufacturing here in the United States and help secure our supply chains by expanding tax incentives for semiconductor facilities to reduce our dependence on Beijing.”

    “The CHIPS and Science Act revitalized advanced domestic manufacturing and restored funding for cutting-edge research and development. But without sustained investment across the semiconductor supply chain, we risk undermining these important efforts,” said Senator Bennet. “Our bipartisan bill will secure our supply chains and ensure companies across the semiconductor ecosystem can invest in and expand U.S. production.”

    “The U.S. must do everything we can to strengthen the domestic semiconductor supply chain,” said Senator Tillis. “It is crucial for our national security and economic resilience that we get this policy right and I am proud to cosponsor this legislation to ensure we reduce our reliance on our adversaries like China.”

    “Semiconductors drive everything from smartphones to medical devices to automobiles, and countries that excel at manufacturing them will be stronger and more secure in the decades ahead,”said Senator Coons. “Expanding the semiconductor manufacturing investment tax credit—established by President Biden’s CHIPS and Science Act—will strengthen our semiconductor supply chain and advance us toward that goal.”

    BACKGROUND

    • Fueled by massive government subsidies, China’s state-controlled companies now dominate nearly 85% of global processing capacity for rare earth minerals used in semiconductor manufacturing.
    • Last month, China imposed new export bans on rare earth materials like gallium, germanium, and antimony, which are key to semiconductor production.
    • Under current law, tax incentives are only available for facilities that directly produce semiconductors or manufacturing equipment. However, much of the upstream materials and components used in these facilities are sourced from China, leaving our critical supply chains vulnerable and heavily reliant on foreign adversaries.

    SEMI INVESTMENT ACT

    • To safeguard national security and counter China’s growing dominance in the semiconductor sector, the SEMI Investment Act would foster the development of a robust U.S.-based supply chain by expanding the tax credit to include upstream materials suppliers.
    • Expanding incentives to include upstream production would also bolster American innovation, create jobs, and ensure the resilience of this vital industry.

    Click here for bill text.

    MIL OSI USA News –

  • MIL-OSI: UPDATE – International companies to host live webcasts at Deutsche Bank’s Depositary Receipts Virtual Investor Conference on May 15, 2025

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, May 08, 2025 (GLOBE NEWSWIRE) — Deutsche Bank today announced the lineup for its Depositary Receipts Virtual Investor Conference (“dbVIC”) on Thursday, May 15, 2025 featuring live webcast presentations from international companies with American Depositary Receipt (ADR) programs in the United States.

    Representatives from participating companies based in China, Hong Kong, Philippines, Denmark, Germany, South Africa, Switzerland, Sweden, and the United Kingdom will respond to questions during formal presentations. The conference is targeted to all categories of investors and analysts interested in international companies.

    There is no fee for participants to log in, attend live presentations and/or ask questions.

    Pre-registration is suggested. Please register here: www.adr.db.com/dbvic

    Conference Agenda May 15th, 2025 (US Eastern Standard Time):

    • 8:00 AM: Bavarian Nordic A/S (Nasdaq Copenhagen: BAVA, OTC: BVNRY)  
    • 8:30 AM: Viomi Technology Co., Ltd (NASDAQ: VIOT)
    • 9:00 AM: Infineon Technologies AG (Xetra: IFX, OTC: IFNNY)
    • 9:30 AM: Clicks Group Ltd (JSE: CLS, OTC: CLCGY)
    • 10:00 AM: First Pacific Company Ltd (HKEX: 142, OTC: FPAFY)
    • 10:30 AM: HUTCHMED (China) Limited (AIM: HCM, NASDAQ: HCM, and HKEX:13)
    • 11:00 AM: 51Talk Online Education Group (NYSE American: COE)
    • 11:30 AM: Yiren Digital Ltd. (NYSE: YRD)
    • 12:00 PM: ABB Ltd. (SIX: ABBN, OTC: ABBNY)
    • 12:30 PM: Belite Bio, Inc  (NASDAQ: BLTE)
    • 13:00 PM: Epiroc AB (Nasdaq Stockholm: EPIA, OTC: EPOAY)
    • 13:30 PM: International Airlines Group (LSE: IAG, MAD: IAG, OTC: ICAGY)
    • 14:00 PM: BDO Unibank, Inc (PSE: BDO, OTC: BDOUY)
    • 14:30 PM: iHuman Inc. (NYSE: IH)

    The presentations will be available for replay after the conference.

    In addition to specializing in administering cross-border equity structures such as American and Global Depositary Receipts, Deutsche Bank provides corporates, financial institutions, hedge funds and supranational agencies around the world with trustee, agency, escrow and related services. The Bank offers a broad range of services for diverse products, from complex securitizations and project finance to syndicated loans, debt exchanges and restructurings.

    For further information, please contact:
    Dylan Riddle
    Deutsche Bank AG
    Press & Media Relations
    Tel. +12122504982
    Cell. +1(904)3866481
    Email dylan.riddle@db.com

    Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.

    Deutsche Bank is sponsoring the Deutsche Bank Depositary Receipt Investor Conference solely for informational purposes. Deutsche Bank does not prepare, review, approve or edit any presentations, statements, documents or other information or materials, whether in written, electronic or verbal form, provided by any company participating in such conference, and disclaims any responsibility for the accuracy or adequacy of any such information or materials. Deutsche Bank is not promoting, endorsing or recommending any company participating in the conference.

    The Depositary Receipts have been registered pursuant to the US Securities Act of 1933 (the “Act”) on Form F-6. The investment or investment service which is the subject of this notice is not available to retail clients as defined by the UK Financial Conduct Authority. This notice has been approved and/or communicated by Deutsche Bank AG New York. The services described in this notice are provided by Deutsche Bank Trust Company Americas (Deutsche Bank) or by its subsidiaries and/or affiliates in accordance with appropriate local registration and regulation. Deutsche Bank is providing the attached notice strictly for information purposes and makes no claims or statement, nor does it warrant as to or guarantee the accuracy or completeness of the details contained herein and does not undertake an obligation to update or amend this information. Deutsche Bank, its subsidiaries and/or affiliates disclaims any and all liability to fullest extent permitted by law, whether arising in tort, contract or otherwise, which any of them might otherwise have in respect of the above information. This announcement appears as a matter of record only. Neither this announcement nor the information contained herein constitutes an offer or solicitation by Deutsche Bank or any other issuer or entity for the purchase or sale of any securities in the United States, nor does it constitute an offer or solicitation to any person in any other jurisdiction. No part of this notice may be copied or reproduced in any way without the prior written consent of Deutsche Bank. Past results are not an indication of future performance. Copyright© May 2025 Deutsche Bank AG. All rights reserved.

    The MIL Network –

  • MIL-OSI: Baltic Horizon Fund consolidated unaudited results for Q1 2025

    Source: GlobeNewswire (MIL-OSI)

    Management Board of Northern Horizon Capital AS has approved the unaudited financial results of Baltic Horizon Fund (the Fund) for the three months of 2025.

    Our strategic ambitions
    Over the past years, our focus has been on reshaping our strategy to foster sustainable value in a very demanding environment, concentrating efforts on avenues that promise reliable and consistent growth for our investors.

    We firmly believe that the execution of the ‘Modern City Life’ strategy, introduced to investors in 2024, is paramount to their best interests. This strategy emphasizes developing centrally located, multi-functional properties with adaptable spaces designed to inspire, uplift, and enhance the lives of modern citizens and communities. Our value proposition is built on quality, flexibility, sustainability, and exceptional service, supported by strategic locations that cater to the evolving needs of our tenants, visitors and neighbours.

    The Fund management team has implemented and specified its key performance indicators (KPIs) as a means to effectively measure and track performance because we acknowledge that clear and measurable benchmarks are essential for evaluating progress towards the Fund’s objectives. By defining specific KPIs, the team aims to enhance transparency, accountability, and facilitate decision-making processes.

    In 2025 the Fund will focus on four KPIs:

    • Occupancy of not less than 90% by the year end. We aim to decrease the current vacancies across the portfolio. At the end of Q1 occupancy rate (based on handover date) was 82.3%
    • Attaining a net operating income (NOI) of EUR 130 per square meter by 2027. Due to possible divestments, from 2025 the management has a new target of NOI/sq.m. rather than total NOI p.a.
    • Loan to value ratio not exceeding 50%. The Fund recently introduced its divestment strategy with the aim to reduce financing costs and decrease LTV levels. In March 2025 the Fund disposed the Meraki business centre in Vilnius. Proceeds of the disposal were used to repay the outstanding loan and early repay the bonds in the amount of EUR 3 million.
    • Optimizing the property portfolio by considering the disposal of non-strategic assets if deemed strategically beneficial.

    Leasing performance
    During the 3 months of 2025, the Fund signed new leases for approx. 2,000 sq. m. Moreover, leases of approx. 5,500 sq. m. were prolonged. 7 new tenants have been attracted to our buildings, while 8 existing tenants have decided to continue their cooperation with us.

    As of the end of March 2025, the portfolio occupancy rate based on handover date stood at 82.3%, while occupancy calculated according to lease signing date reached 86.9%, marking significant progress toward the target of 90%.

    Notably, less than 14% of leases are set to expire during the next 9 months, while the vast majority expire in 2026 and later. We aim to spread our lease terms evenly so that no more than 20% of our leases expire each year.

    Recent successful leasing activity is reflected in the increase in the weighted average unexpired lease term until the first break option, which was 3.6 years as of 31 March 2025 (compared to 3.4 and 2.9 years as of 31 December 2024 and 2023).

    Outlook
    In 2025 the Fund will focus on flexible and sustainable solutions to meet tenant demands and market conditions. Our key goals are increasing the occupancy of the portfolio and decreasing the LTV by way of repaying part of the bonds.

    In 2025, we will continue advancing our social and environmental commitments. All our assets have been BREEAM-certified, and by the end of Q1 2025, we achieved 95% green leases across our portfolio, with a target to further increase this share in the coming year.

    In a challenging leasing market, the Baltic Horizon Fund is focusing on minimizing administration expenses to offset reduced income. By regularly reviewing overhead costs, investing in technology upgrades, and negotiating fees, the fund aims to enhance operational efficiency and improve long-term investment returns. These strategies are essential for maintaining financial health and maximizing results despite limited income opportunities.

    Simultaneously, to reinforce its financial position, the Fund is committed to improving its debt service ratio and reducing loan-to-value levels. By focusing on increasing occupancy rates and optimizing property concepts, we aim to enhance asset performance and maximize net operating income. Adaptive leasing strategies, property repositioning, and targeted investments in high-demand segments will remain key priorities. These initiatives are designed to create long-term value for investors while ensuring the Fund remains resilient in a dynamic market environment.

    Baltic Horizon achieves a 100% BREEAM certified portfolio
    Our portfolio is 100% BREEAM certified.

    GRESB benchmarking
    In 2024 the Fund received a 3-star GRESB rating. During 2024, the Fund has implemented a GRESB improvement plan and aims to receive 4-stars again in the year 2025.

    Net result and net rental income
    The Group earned consolidated net rental income of EUR 3.0 million in Q1 2025 (Q1 2024: 2.8 million). The results for Q1 2025 include two months of net rental income of the Meraki office property (EUR 0.2 million), which was sold on 13 March 2025.

    The portfolio net rental income in Q1 2025 was 6.3% higher than in Q1 2024, mainly due to higher occupancy in Galerija Centrs since the complex was undergoing a transition period of certain tenants in the buildings in Q1 2024, as well as higher occupancy in Meraki as the international office furniture company NARBUTAS fully moved in to the premises at the end of 2024.

    In Q1 2025, the Group recorded a net loss of EUR 968 thousand compared with a net loss of EUR 624 thousand for Q1 2024. The result was mainly driven by the losses on disposal of investment properties. Earnings per unit for Q1 2025 were negative at EUR 0.01 (Q1 2024: negative at EUR 0.01).

    Investment properties
    At the end of Q1 2025, the Baltic Horizon Fund portfolio consisted of 11 cash flow generating investment properties in the Baltic capitals. The fair value of the Fund’s portfolio was EUR 226.2 million at the end of March 2025 (31 December 2024: EUR 241.2 million) and incorporated a total net leasable area of 110.7 thousand sq. m. During Q1 2025 the Group invested approximately EUR 1.4 million in tenant fit-outs.

    Gross Asset Value (GAV)
    As of 31 March 2025, the Fund’s GAV was EUR 243.2 million (31 December 2024: EUR 256.0 million). The decrease compared to the prior year was mainly related to the disposal of the Meraki office building, which had contributed approx. EUR 16.4 million to the GAV.

    Net Asset Value (NAV)
    As of 31 March 2025, the Fund’s NAV was EUR 97.2 million (31 December 2024: EUR 98.1 million). The NAV decrease was mainly due to losses on disposal of Meraki. As of 31 March 2025, IFRS NAV per unit amounted to EUR 0.6769 (31 December 2024: EUR 0.6833), while EPRA net tangible assets and EPRA net reinstatement value were EUR 0.7209 per unit (31 December 2024: EUR 0.7267). EPRA net disposal value was EUR 0.6736 per unit (31 December 2024: EUR 0.6797).

    Interest-bearing loans and bonds
    As of 31 March 2025, interest-bearing loans and bonds (excluding lease liabilities) were EUR 138.9 million (31 December 2024: EUR 149.0 million).
    As of 31 March 2025, the Fund’s consolidated cash and cash equivalents amounted to EUR 12.8 million (31 December 2024: EUR 10.1 million).

    Cash flow
    Cash inflow from core operating activities in Q1 2025 amounted to EUR 1.3 million (Q1 2024: cash inflow of EUR 1.9 million). Cash inflow from investing activities was EUR 14.3 million (Q1 2024: cash outflow of EUR 1.3 million) mainly due to the sale of Meraki in March 2025 for EUR 16 million. Cash outflow from financing activities was EUR 12.8 million (Q1 2024: cash inflow of EUR 5.7 million). In Q1 2025, the Fund repaid the BH Novus UAB (previously BH Meraki UAB) loan amounting to EUR 10.3 million and paid interest on bank loans and bonds.

    Key earnings figures

    EUR ‘000 2025 Q1 2024 Q1 Change (%)
    Net rental income 2,970 2,794 6.3%
    Administrative expenses (548) (585) (6.3%)
    Other operating income (expenses) 18 10 80.0%
    Losses on disposal of investment properties (905) (367) 146.6%
    Valuation losses on investment properties (5) (4) 25.0%
    Operating (loss) profit 1,530 1,848 (17.2%)
    Net financial expenses (2,673) (2,497) 7.0%
    (Loss) profit before tax (1,143) (649) 76.1%
    Income tax 175 25 600.0%
    Net (loss) profit for the period (968) (624) 55.1%
           
    Weighted average number of units outstanding (units) 143,562,514 119,635,429 20.0%
    Earnings per unit (EUR) (0.01) (0.01) –

    Key financial position figures

    EUR ‘000 31.03.2025 31.12.2024 Change (%)
    Investment properties in use 226,220 241,158 (6.2%)
    Gross asset value (GAV) 243,208 256,048 (5.0%)
           
    Interest-bearing loans and bonds 138,914 148,989 (6.8%)
    Total liabilities 146,035 157,953 (7.5%)
           
    IFRS Net asset value (IFRS NAV) 97,173 98,095 (0.9%)
    EPRA Net Reinstatement Value (EPRA NRV) 103,496 104,333 (0.8%)
           
    Number of units outstanding (units) 143,562,514 143,562,514 –
    IFRS Net asset value (IFRS NAV) per unit (EUR) 0.6769 0.6833 (0.9%)
    EPRA Net Reinstatement Value (EPRA NRV) per unit (EUR) 0.7209 0.7267 (0.8%)
           
    Loan-to-Value ratio (%) 61.4% 61.8% (0.4%)
    Average effective interest rate (%) 6.5% 6.7% (0.2%)

    During Q1 2025, the average actual occupancy of the portfolio was 82.7% (Q4 2024: 81.0%). The occupancy rate increased to 82.3% as of 31 March 2025 (31 December 2024: 82.1%).

    Overview of the Fund’s investment properties as of 31 March 2025

    Property name Sector Fair value1 NLA Direct property yield Net initial yield Occupancy rate
    (EUR ‘000) (sq. m)  20252 20253
    Vilnius, Lithuania            
    Europa SC Retail 36,106 17,127 2.7% 3.1% 81.6%
    North Star Office 19,550 10,740 5.6% 6.2% 90.3%
    Total Vilnius   55,656 27,867 3.9% 4.7% 85.0%
    Riga, Latvia            
    Upmalas Biroji BC Office 19,241 11,204 3.4% 4.3% 64.1%
    Vainodes I Office 15,936 8,128 6.2% 8.5% 100.0%
    LNK Centre Office 11,641 7,452 (2.4%) (3.7%) 0.0%
    Sky SC Retail 4,910 3,260 8.7% 9.3% 100.0%
    Galerija Centrs Retail 60,863 19,441 3.4% 4.5% 84.7%
    Total Riga   112,591 49,485 3.3% 4.4% 70.8%
    Tallinn, Estonia            
    Postimaja & CC Plaza complex Retail 21,876 9,232 3.1% 5.2% 100.0%
    Postimaja & CC Plaza complex Leisure 13,195 7,877 6.4% 5.8% 100.0%
    Lincona Office 13,110 10,767 6.7% 8.3% 92.6%
    Pirita SC Retail 9,792 5,425 6.6% 8.5% 97.1%
    Total Tallinn   57,973 33,301 4.9% 6.6% 97.1%
    Total portfolio   226,220 110,653 3.9% 5.0% 82.3%
    1. Based on the latest valuation as of 31 December 2024, recognised right-of-use assets and subsequent capital expenditure.  
    2. Direct property yield (DPY) is calculated by dividing annualized NOI by the acquisition value and subsequent capital expenditure of the property.
    3. The net initial yield (NIY) is calculated by dividing annualized NOI by the market value of the property.

    Consolidated statement of profit or loss and other comprehensive income

    EUR ‘000    
    01.01.2025
    – 31.03.2025    		 01.01.2024
    – 31.03.2024
    Rental income 3,794 3,846
    Service charge income 1,332 1,048
    Cost of rental activities (2,156) (2,100)
    Net rental income 2,970 2,794
         
    Administrative expenses (548) (585)
    Other operating income 18 10
    Losses on disposal of investment properties (905) (367)
     Valuation losses on investment properties (5) (4)
    Operating profit (loss) 1,530 1,848
         
    Financial income 42 4
    Financial expenses (2,715) (2,501)
    Net financial expenses (2,673) (2,497)
         
    Profit (loss) before tax (1,143) (649)
    Income tax charge 175 25
    Profit (loss) for the period (968) (624)
       
    Other comprehensive income that is or may be reclassified to profit or loss in subsequent periods
    Net gain (loss) on cash flow hedges 51 (219)
    Income tax relating to net gain (loss) on cash flow hedges (5) 27
    Other comprehensive income (expense), net of tax, that is or may be reclassified to profit or loss in subsequent periods 46 (192)
         
    Total comprehensive income (expense) for the period, net of tax (922) (816)
         
    Basic and diluted earnings per unit (EUR) (0.01) (0.01)
           

    Consolidated statement of financial position

    EUR ‘000   31.03.2025 31.12.2024
    Non-current assets      
    Investment properties   226,220 241,158
    Intangible assets   2  4 
    Property, plant and equipment   2 5
    Derivative financial instruments              – 1                      
    Other non-current assets   845 1,225
    Total non-current assets   227,069 242,393
           
    Current assets      
    Trade and other receivables   2,848 2,800
    Prepayments   444 802
    Cash and cash equivalents   12,847 10,053
    Total current assets   16,139 13,655
    Total assets   243,208 256,048
           
    Equity      
    Paid in capital   151,495 151,495
    Cash flow hedge reserve   (374) (420)
    Retained earnings   (53,948) (52,980)
    Total equity   97,173 98,095
           
    Non-current liabilities      
    Interest-bearing loans and borrowings   83,896 98,491
    Deferred tax liabilities   1,742 1,898
    Other non-current liabilities   1,143 1,446
    Total non-current liabilities   86,781 101,835
           
    Current liabilities      
    Interest-bearing loans and borrowings   55,259 50,736
    Trade and other payables   3,331 4,473
    Income tax payable   – 14
    Derivative financial instruments   303 317
    Other current liabilities   361 578
    Total current liabilities   59,254 56,118
    Total liabilities   146,035 157,953
    Total equity and liabilities   243,208 256,048

    For additional information, please contact:

    Tarmo Karotam
    Baltic Horizon Fund manager
    E-mail tarmo.karotam@nh-cap.com
    www.baltichorizon.com

    The Fund is a registered contractual public closed-end real estate fund that is managed by Alternative Investment Fund Manager license holder Northern Horizon Capital AS. 

    Distribution: GlobeNewswire, Nasdaq Tallinn, Nasdaq Stockholm, www.baltichorizon.com

    To receive Nasdaq announcements and news from Baltic Horizon Fund about its projects, plans and more, register on www.baltichorizon.com. You can also follow Baltic Horizon Fund on www.baltichorizon.com and on LinkedIn, Facebook, X and YouTube.

    This announcement contains information that the Management Company is obliged to disclose pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the above distributors, at 17:45 EET on 08 May 2025.

    Attachment

    The MIL Network –

  • MIL-OSI: The Victory Bank to Celebrate Grand Opening of New Horsham Branch with an Exclusive CD Special, Business Offers, and Grand Prize Trip to Maui, Hawaii

    Source: GlobeNewswire (MIL-OSI)

    HORSHAM, Pa., May 08, 2025 (GLOBE NEWSWIRE) — The Victory Bank will celebrate the grand opening of its second retail branch, located at 100 Gibraltar Road, Horsham, PA 19044, with a week-long series of events from June 2 through June 6, 2025. The celebration features daily prize giveaways, family entertainment, business seminars, and exclusive offers—including a CD Special of 4.5% APY* for 22 weeks and special promotions for new business accounts opened in person at the Horsham location.

    Special Promotions and Contests

    Starting June 2, participants can text “Victory” to 527-955-7422 to receive a unique “Game” code. When they visit the Horsham branch during the week of June 2–6, they’ll have their code decoded on-site to reveal an instant prize—which could include a KitchenAid Mixer, Samsung Smart TV, Phillies tickets, propane grill, and more.

    All codes must be redeemed by 4 PM EST on Friday, June 6. Click here for full Game rules.

    The week culminates with a separate Grand Prize “Sweepstakes” Drawing for a trip for two to Maui, Hawaii. To be eligible, participants must open an account** and submit their entry by 3 PM EST on June 6. The winner will be announced at 5:45 PM, and must be present to win. Click here for full Sweepstakes rules.

    Available All Week

    • CD Special: 4.5% APY* for 22 weeks (opened in person at Horsham branch)
    • New Business Account Offers: Special incentives available exclusively for businesses opening accounts in person at the Horsham branch
    • Money Machine: One turn per guest to grab as much cash as possible
    • Popcorn Machine: Free fresh popcorn served daily
    • Sweet Treats: Cool off with complimentary frozen treats (available all summer!)
    • Hospitality Tent: Open daily with refreshments and opportunities to meet bank staff
    • The Victory Bank Foundation: Learn more about the Foundation’s mission and community initiatives

    Daily Schedule of Events

    Monday, June 2 – Opening Day Kickoff!

    • Big Prize Giveaway: KitchenAid Mixer
    • 12:00 PM: Ribbon-Cutting Ceremony with the Montgomery County Chamber of Commerce
    • 1:00 – 4:00 PM: Family entertainment including a visit from Bluey, face painting, balloon artist, and goody bags

    Tuesday, June 3 – Phillies Day

    • Big Prize Giveaway: Two tickets to four Phillies games with parking
    • 4:00 PM: Ribbon-Cutting Ceremony with the Greater Bucks-Mont Chamber of Commerce

    Wednesday, June 4 – Financial Wellness Focus

    • Big Prize Giveaway: Samsung – 55″ Class Q60D Series QLED 4K UHD Smart Tizen TV
    • 11:30 AM – 2:00 PM: Adult Financial Literacy Course with lunch, presented by Bill Vitiello and Rosalia Hoffman of The Victory Bank (registration required). Space is limited.

    Thursday, June 5 – Business Owner Spotlight

    • Big Prize Giveaway: 3-Burner Propane Grill
    • 11:00 AM – 2:00 PM: Business Seminar with Alan Scholnick, PCC, CPC, CPA, CGMA, MST, MAOL, ELI-MP. Includes lunch (registration required). Space is limited.
    • 2:00 PM: Ribbon-Cutting Ceremony with the Chamber of Greater Montgomery County

    Friday, June 6 – Grand Finale!

    • Grand Prize Drawing: Trip for Two to Maui, Hawaii (5:45 PM – must be present to win)
    • 4:00 – 6:00 PM: Food from Nick’s Roast Beef Food Truck
    • 5:00 PM: Ribbon-Cutting Ceremony with the Eastern Montgomery County Chamber of Commerce
    • Bluey returns, along with face painting and balloon artistry

    *The Annual Percentage Yield (APY) provided is accurate as of 06/02/2025 and is subject to change. This offer expires on 06/06/2025. Early withdrawal may incur a substantial penalty. Fees associated with the account could reduce actual earnings.

    A minimum deposit of $500.00 required to open. All rates, terms, and conditions are subject to change without prior notice. Call 610-948-9000 for current rates. Accounts must be opened in person at the Horsham branch.

    Valid for both regular and IRA certificates of deposit.

    **No purchase necessary. For full sweepstakes and game details, and event registration, visit www.victorybank.com/grand-opening-celebration-horsham-pa.

    FDIC-Insured – Equal Housing Lender

    CONTACT:

    Owen Magers
    Administrative Assistant to the CEO, Investor Relations
    610-948-9000 

    The MIL Network –

  • MIL-OSI USA: Cassidy Announces $965,000 for Airport Improvements in Shreveport, Hammond from His Infrastructure Law

    US Senate News:

    Source: United States Senator for Louisiana Bill Cassidy
    WASHINGTON – U.S. Senator Bill Cassidy, M.D. (R-LA) announced the Federal Aviation Administration (FAA) is granting Louisiana a total of $965,000 from his Infrastructure Investment and Jobs Act (IIJA) for airport safety improvements in Shreveport and Hammond.
    “Airports are often the first impression visitors have when traveling to Louisiana for the first time. These projects will make Louisiana’s airports safer and more reliable while creating jobs and boosting local economies,” said Dr. Cassidy. 
    The Shreveport Airport Authority will receive $881,000 in federal funding to install 13,650 feet of wildlife fencing and eight gates at Shreveport Downtown Airport to enhance safety.
    The City of Hammond will receive $84,000 in federal funding to rehabilitate 36,000 feet of taxiways and 640 square yards of the terminal apron at Hammond Northshore Regional Airport to maintain pavement integrity and reduce debris hazards.

    MIL OSI USA News –

  • MIL-OSI USA: Warren, Wyden, Doggett, Schakowsky Push Congressional Leadership to Reject Medicaid Cuts, Crack Down on Medicare Advantage Upcoding

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    May 08, 2025
     Congressional Republicans’ current plan sets them up to slash hundreds of billions from Medicaid and CHIP
    Lawmakers cite bipartisan support for cracking down on waste, fraud, and abuse in Medicare Advantage
    Letter from House (PDF) | Letter from Senate (PDF)
    Washington, D.C. – As Congress considers reconciliation legislation, Senator Elizabeth Warren (D-Mass.), Senator Ron Wyden (D-Ore.), Ranking Member of the Senate Finance Committee, along with Representatives Lloyd Doggett (D-Texas) and Jan Schakowsky (D-Ill.) led their colleagues in writing to Senate Majority Leader John Thune and Speaker of the House Mike Johnson, urging them to crack down on waste, fraud, and abuse in Medicare Advantage (MA) instead of forging ahead with cuts to Medicaid.
    “As Congress considers reconciliation legislation, we urge you to reject cuts to Medicaid, which are deeply unpopular and will rip away health care from millions of Americans,” wrote the lawmakers. “Where there is widespread agreement is the need to address waste, fraud, and abuse by private, for-profit insurance companies. We write to urge you to crack down on the growing threat to the Medicare program known as ‘upcoding.’”
    Upcoding is the practice by which private insurers in Medicare Advantage exaggerate the medical diagnoses of their enrollees to secure higher payments from the federal government. This results in wasteful spending in Medicare, overcharging seniors and taxpayers while adding tens of billions in costs to the federal government. Analysis from the non-partisan Medicare Payment Advisory Committee (MedPAC) found that upcoding is expected to increase Medicare payments to private health insurance companies by an estimated 10 percent, or $40 billion, in 2025.
    This waste, fraud, and abuse has been called out by both Democrats and Republicans. CMS Administrator Mehmet Oz even noted that tackling this fraud “is relatively enjoyable to go after, because … we have bipartisan support.” Senator Chuck Grassley (R-IA) has launched an inquiry into UnitedHealth’s billing practices in Medicare Advantage, and Senator Bill Cassidy (R-LA) supports the No UPCODE Act, which would ban some of the most aggressive forms of upcoding by private insurers in the program.
    “The Wall Street Journal, MedPAC, Administrator Oz, and Congressional Republicans all seem to agree: wasteful spending in MA, driven by abusive upcoding practices, are a ‘more rational’  route to securing health care savings that will benefit the Medicare program and taxpayers,” continued the lawmakers. “Your directive to cut federal health care spending should come from reducing waste, fraud, and abuse like upcoding by for-profit insurance companies, not by cutting health care benefits for American families who rely on Medicaid to make ends meet.”
    Nevertheless, Congressional Republicans are forging ahead with plans to slash hundreds of billions of dollars from Medicaid and the Children’s Health Insurance Program (CHIP)  – which will put health and livelihoods at risk for the nearly 80 million Americans, including 37 million children, eight million people with disabilities, and seven million seniors covered by these programs
    “If there is no course correction that protects Medicaid, tens of millions of Americans will be kicked off their health care,” wrote the lawmakers. “We urge you instead to listen to Administrator Oz and tackle real fraud, waste, and abuse by private, for-profit health insurers in MA.”
    The letters were also signed by Senators Bernie Sanders (D-Vt.), Tina Smith (D-Minn.), and Senator Jeff Merkley (D-Ore.), as well as Representatives Hank Johnson (D-Ga.), Mark Pocan (D-Wis.), Adam Smith (D-Wash.), Ayanna Pressley (D-Mass.), Joaquin Castro (D-Texas), Rashida Tlaib (D-Mich.), Summer Lee (D-Pa.), Nydia Velazquez (D-N.Y.), Betty McCollum (D-Minn.), Al Green (D-Texas), John Garamendi (D-Calif.), Lateefah Simon (D-Calif.), Alexandria Ocasio-Cortez (D-N.Y.), Eleanor Homes Norton (D-D.C.), Raja Krishnamoorthi (D-Ill.), Pramila Jayapal (D-Wash.), Delia Ramirez (D-Ill.), Ilhan Omar (D-Minn.), Mark Takano (D-Calif.), Danny Davis (D-Ill.), Steve Cohen (D-Tenn.), Maxwell Frost (D-Florida), Chuy Garcia (D-Ill.), Sylvia Garcia (D-Texas), Greg Casar (D-Texas), Bonnie Watson Coleman (D-N.J.), Chris Deluzio (D-Pa.), Jill Tokuda (D-Hawaii), Val Hoyle (D-Ore.), Shri Thanedar (D-Mich.), Andre Carson (D-Ind.), Adriano Espaillat (D-N.Y.), Marcy Kaptur (D-Ohio), and Melanie Stansbury (D-N.M.).
    The letters have been endorsed by the Center for American Progress, Center for Medicare Advocacy, LeadingAge, P Street Project, Protect Our Care, and Public Citizen. 

    MIL OSI USA News –

  • MIL-OSI USA: Warren Demands Army Under Secretary Nominee Divest Stock Holdings in Anduril and Other Defense Contractors

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren
    May 08, 2025
    Senator warns Michael Obadal that financial conflicts “will compromise your ability to serve with integrity, raising a cloud of suspicion over your contracting and operational decisions.”
    Text of Letter (PDF)
    Washington, D.C. — U.S. Senator Elizabeth Warren (D-Mass.) wrote to Mr. Michael Obadal, nominee for Under Secretary of the Army, with concerns about his refusal to divest from major defense contractors. Obadal will face lawmakers at his nomination hearing before the Senate Armed Services Committee on May 8, 2025. 
    If confirmed, Obadal will help manage the Army’s operations—consisting of a $186 billion budget, over 100,000 contracts a year, and over one million personnel. Obadal currently serves as a Senior Director at Anduril Industries, which was recently awarded a $22 billion contract to produce high-tech headsets for the Army. Obadal also holds between $250,000 and $500,000 in Anduril stock, which he has refused to divest from ahead of his confirmation. Anduril is also currently eyeing an initial public offering, and the company’s plan of going public would be boosted if it can secure more Pentagon contracts. 
    Even after divesting, Warren said Obadal should still recuse from specific-party matters involving Anduril. 
    “If you were to participate in a decision about an Anduril contract, your prior employment relationship with the company would lead the public to reasonably question whether you were more motivated to protect the company’s interests than the public interest,” said Senator Warren. 
    Obadal also holds stock in several other large defense contractors, including up to $15,000 in each of the following: General Dynamics, Eli Lilly, Thermo Fischer Scientific, and Cummins, Inc. 
    “By attempting to serve in this role with conflicts of interest, you risk spending taxpayer dollars on wasteful DoD contracts that enrich wealthy contractors but fail to enhance Americans’ national security,” said Senator Warren. 
    To address his conflicts of interest, Senator Warren asked him to make five commitments:
    Divest his equity in Anduril; 
    Recuse from any matters involving Anduril; 
    Divest his equity in stock in other major defense contractors; 
    Commit not to seek compensation from any company that works with the Army for four years after leaving government service; and 
    Commit not to lobby the Defense Department for at least four years after leaving office. 
    Some DoD appointees have agreed to a cooling-off period before seeking compensation from defense contractors. For example, Dan Caine, Chairman of the Joint Chiefs of Staff, recently committed not to work for major defense contractors after leaving government.
    Relatedly, multiple former Biden appointees agreed to post-employment lobbying restrictions, including Defense Secretary Lloyd Austin, IRS Chief Counsel Marjorie Rollinson, and Treasury Assistant Secretary for Investment Security Paul Rosen.
    Senator Warren asked Obadal to make these ethics commitments in writing by May 9, 2025. 
    Senator Warren has sought to protect servicemembers and national security by pushing defense nominees to resolve their conflicts of interest: 
    In March 2025, ahead of his confirmation vote, Senator Elizabeth Warren wrote to Deputy Defense Secretary Nominee Stephen Feinberg, urging him to recuse himself from all matters related to Ligado Networks, which has a pending $39 billion lawsuit against the DoD. 
    In March 2025, Senator Elizabeth Warren wrote to Mr. Emil Michael, nominee for Under Secretary of Defense for Research and Engineering, with concern over his history of inappropriate behavior at work, his attacks on journalists and public accountability, and his ties to technology companies that may seek contracts with the Department of Defense. 
    In February 2025, ahead of his confirmation hearing before the Senate Armed Services Committee, Senator Elizabeth Warren wrote to Mr. Stephen Feinberg, nominee for Deputy Secretary of the Department of Defense, pressing him to explain his “serious conflicts of interest” and his track record of mismanagement.
    In January 2025, Senator Elizabeth Warren wrote to Mr. Michael Duffey, nominee for Under Secretary of Defense for Acquisition and Sustainment of the Department of Defense, ahead of his confirmation hearing, with serious concerns about his record, which include violating the law, disregarding Congressional authority, and his involvement in Project 2025. 
    In January 2025, Senator Elizabeth Warren wrote to Mr. Pete Hegseth, nominee for Secretary of the Department of Defense, regarding his ethics conflicts ahead of the Senate’s consideration of his nomination. Mr. Hegseth’s household’s ownership of stock in several defense contractors and his unwillingness to commit to the same post-employment restrictions he previously advocated for were particularly troubling for a prospective Secretary of Defense.
    In March 2024, Senator Elizabeth Warren secured ethics commitments from Douglas Schmidt, ahead of his confirmation to be the Director of Operational Test and Evaluation (DOT&E) for the Department of Defense.
    In June 2023, Senator Elizabeth Warren and representative Andy Kim reintroduced the Department of Defense Ethics and Anti-Corruption Act, to limit the influence of contractors on the military, constrain foreign influence on retired senior military officers, and assert greater transparency over contractors and their interaction with DoD.
    In July 2021, Senator Elizabeth Warren secured agreements to four-year recusals from former clients’ and employers’ party matters from then-Secretary of the Air Force Frank Kendall and then-USD(R&E) Heidi Shyu.
    In January 2021, Senator Elizabeth Warren secured a commitment from General Lloyd Austin III, then-nominee for Secretary of Defense, to extend his recusal from Raytheon Technologies for four years and to not seek a position on the board of a defense contractor or become a lobbyist after his government service.

    MIL OSI USA News –

  • MIL-OSI Russia: Statement by IMF Deputy Managing Director Kenji Okamura at the Conclusion of His Visit to San Marino

    Source: IMF – News in Russian

    May 8, 2025

    San Marino: Mr. Kenji Okamura, Deputy Managing Director of the International Monetary Fund (IMF), issued the following statement today in San Marino at the end of his visit:

    “I am delighted to be in San Marino. This is my first visit, and I would like to thank Captains Regent Bronzetti and Righi, Finance Minister Gatti, Minister of Foreign Affairs Beccari, Central Bank President Tomasetti, Central Bank Managing Director Vivoli, as well as other ministers and senior officials for their warm hospitality and for the productive discussions.”

    “In the last decade, San Marino’s economy has transformed from overreliance on the financial sector serving non-residents and moved towards a diversified growth model, driven by the manufacturing and non-financial services. The economy is in a much stronger position today, thanks to the authorities’ stewardship. Prudent fiscal policies, moderate wage growth, and access to international capital markets have allowed the country to weather the pandemic and the energy crises. Despite the regional slowdown and high global interest rates, San Marino’s economy continues to be resilient, with employment levels at record highs.”

    “I commended the authorities for their ongoing efforts to reduce public debt. Pension reform and prudent wage growth policy have strengthened the fiscal position. We discussed plans to continue building fiscal buffers by containing spending, advancing income tax reforms and introducing VAT. We also discussed the challenges of fiscal policy in the current context of trade tensions and heightened uncertainty.”

    “In addition, we discussed the authorities’ efforts to reduce financial sector vulnerabilities, including resolving banking sector legacy issues and addressing nonperforming loans, via securitization and strengthened bank regulations. While banks’ liquidity, capitalization, and profitability have improved, banks will need to improve their cost efficiency to ensure long-term viability. I welcomed the progress in implementing the Anti-Money Laundering / Countering the Financing of Terrorism framework.”

    “The conclusion of the EU association agreement negotiations is another milestone for San Marino. The agreement will help local businesses access the EU market and will enhance the quality of San Marino’s public administration as it adopts the EU regulatory framework.”

    “I very much appreciate the excellent, long-standing relations between San Marino and the IMF. I look forward to strengthening our continued partnership through regular policy dialogue and technical assistance.”

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER: Boris Balabanov

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

    https://www.imf.org/en/News/Articles/2025/05/08/pr25134-san-marino-statement-imf-deputy-managing-director-kenji-okamura-conclusion-his-visit

    MIL OSI

    MIL OSI Russia News –

  • MIL-OSI: Azerion publishes Notice of Annual General Meeting 2025

    Source: GlobeNewswire (MIL-OSI)

    Azerion publishes Notice of Annual General Meeting 2025

    Amsterdam, 8 May 2025 – Azerion Group N.V. has today published the Notice of Annual General Meeting 2025 (AGM), which will be held on 19 June 2025. The notice, agenda and accompanying explanatory notes, as well as the 2024 Annual Report and other relevant documentations have been published on our website www.azerion.com/agm/

    The agenda of the AGM includes, amongst other proposals, the proposal to adopt the 2024 financial statements. Additional information on resolutions and board recommendations for voting are available in the Notice of AGM.

    Further information regarding the registration and attendance of the AGM, as well as instructions and deadlines on how to vote and submit questions can be found on our website http://www.azerion.com/agm/.

    About Azerion

    Founded in 2014, Azerion (EURONEXT: AZRN) is one of Europe’s largest digital advertising and entertainment media platforms. Azerion brings global scaled audiences to advertisers in an easy and cost-effective way, delivered through our proprietary technology, in a safe, engaging, and high-quality environment, utilizing our strategic portfolio of owned and operated content with entertainment and other digital publishing partners.

    Having its roots in Europe and with its headquarters in Amsterdam, Azerion has commercial teams based in over 21 cities around the world to closely support our clients and partners to find and execute creative ways to make a real impact through advertising.

    Contact:

    Investor Relations
    ir@azerion.com

    This communication contains information that qualifies as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

    The MIL Network –

  • MIL-OSI United Kingdom: Support available for start-up businesses

    Source: Scotland – City of Aberdeen

    New businesses are being encouraged to apply for funding through a grant scheme. 

    Sole traders, partnerships or limited companies who have set up within the Aberdeen City Council boundary since 1 October 2024 can apply to the Business Start-Up Grant Scheme, with one grant per business permitted. 

    Aberdeen City Council Co-Leader Councillor Ian Yuill said: “This scheme is an example of partnership working that offers help and encouragement to the private sector. The funding available can make a real difference to support emerging businesses.”  

    Finance and Resources convener Councillor Alex McLellan said: said: “This grant scheme will continue to support new businesses to grow and thrive in Aberdeen. 

    “I encourage all eligible businesses to apply and help support the region’s economic growth.”

    Home-based start-ups can apply for funding of £1,000, while those taking on a relatable commercial premise within Aberdeen may be eligible for £3,000. 

    All applicants must be engaged with the Business Gateway service and have an allocated business advisor. This scheme has been funded by the UK Shared Prosperity Fund.

    Through the Business Start-Up Grant Scheme 2024/25, 167 new businesses have been supported across the city, including in animal services, education, hair and beauty and technology sectors. 

    Details and eligibility can be found online.

    Applications will be accepted until 28 February 2026 or until the funding has been fully allocated.  

    MIL OSI United Kingdom –

  • MIL-OSI: Trading Icon Moves Markets with the Iron Condor Strategy and Empowers Retail Investors

    Source: GlobeNewswire (MIL-OSI)

    SPARKS, Nev., May 08, 2025 (GLOBE NEWSWIRE) — David Chau, known in the financial world as Captain Condor, continues to redefine the world of options trading with his audacious bets and market-moving trades. Recently featured in The Wall Street Journal, Chau’s influence in the options market has skyrocketed, making waves not just with institutional investors but with individual traders as well.

    As the founder of InsideOptions, an exclusive educational community of over 1,000 traders, Chau has made headlines for his ability to move the S&P 500 index through massive options trades tied to the volatility of the market. His proprietary Iron Condor strategy, which profits from S&P 500 movement within a defined range, has drawn attention for its complexity and ability to generate significant returns even in volatile market conditions.

    Chau’s influence has been compared to that of legendary traders throughout history, as his trades have been large enough to move the markets and spark conversations across the financial world. His online community amplifies his trades, and when he shares his positions, many of his followers mimic his actions, creating an outsized impact.

    “Trading is a mental battlefield, and you need the fortitude to take risks while staying grounded in strategy,” said David Chau, reflecting on his approach to trading. “It’s about seeing the bigger picture and understanding how to navigate complex market dynamics.”

    InsideOptions: An Educational Community Revolutionizing Retail Trading

    At the heart of Chau’s approach is InsideOptions, where he shares his expertise with fellow traders. With an annual fee for membership, InsideOptions offers more than just trade alerts; it’s a comprehensive educational trading system designed for serious investors who want to dive deep into the world of options.

    Unlike many trading programs, InsideOptions does not simply cater to novice traders. Members of the community range from seasoned Wall Street professionals to doctors and engineers seeking to learn more about options trading. This diverse, committed group follows Chau’s educational content, amplifying his market knowledge and solidifying the power of informed retail investors.

    Chau’s approach has drawn both admiration and caution. Some financial experts warn that such high-risk strategies could be seen as gambling, but Chau believes his disciplined strategy is the key to his success. “It’s about understanding risk and controlling the environment you trade in,” said Chau.

    The Iron Condor Strategy: A Unique Path to Profits

    Chau’s signature strategy, the Iron Condor, involves creating a position that benefits from limited price movement. By selling both a put and a call option on the S&P 500 index at different strike prices, he profits if the index stays within a certain range. It’s a strategy that is designed for savvy traders, but Chau’s success in executing it has captured the attention of both the media and his growing network of followers.

    Through his educational content, Chau and his community have contributed to the dramatic rise of individual investors within the options market. With the number of daily options contracts surging in recent years, retail traders now account for nearly 30% of all options activity. Chau’s ability to tap into this trend has made him a household name in the trading world.

    SPX Program Fund LP: Institutional-Grade Investment Vehicle

    Alongside his educational platform InsideOptions, Chau is also actively working on expanding the SPX Program Fund LP, a separate investment vehicle focused on professional, institutional-grade trading strategies. This fund caters exclusively to accredited investors and operates independently from InsideOptions under its own specific regulatory framework.

    “As the founder of InsideOptions, I continue to manage and grow my options trading community and educational platform. Alongside this, I am also actively working on expanding my SPX Program Fund LP, a separate investment vehicle focused on professional, institutional-grade trading strategies with the goal of providing exceptional returns for accredited investors. These two entities, while both benefiting from my expertise in options trading, operate independently, and I am committed to ensuring that each one adheres to its own specific regulatory and operational framework,” states Chau.

    The fund aims to provide exceptional returns using sophisticated options strategies while maintaining strict compliance with all applicable securities regulations. Potential investors must meet accreditation requirements as defined by SEC guidelines.

    The Rise of Retail Power in Finance

    Chau’s influence comes at a time when retail trading is experiencing unprecedented growth. Following the market rally of 2020 and a surge in options activity, retail investors have taken center stage, contributing to the dramatic swings in stock prices and creating new opportunities for those willing to take risks.

    “People are fascinated by big market-moving trades, and they want to see what happens when a trader puts it all on the line,” said Avanidhar Subrahmanyam, a professor of behavioral finance at UCLA’s Anderson School of Management. “The curiosity around these trades, and their outcomes, has created a new culture of retail trading.”

    What’s Next for Captain Condor?

    Looking ahead, David Chau plans to expand his influence even further. With a growing presence on social media, plans for speaking engagements, and potential partnerships with academic institutions, Chau is positioned to continue leading the charge in the evolution of retail trading while growing his professional fund operations.

    “The journey is just beginning,” Chau said. “There’s much more to learn, and I’m excited to continue helping people master their trading psychology and gain a deeper understanding of the markets through InsideOptions, while also pursuing institutional-grade investment strategies through the SPX Program Fund LP.”

    For media inquiries or to schedule an interview with David Chau, please contact:
    Patricia Baronowski-Schneider
    President, Pristine Advisers
    pbaronowski@pristineadvisers.com
    516-473-4052

    About David Chau (“Captain Condor”)

    David Chau, known as Captain Condor, is a full-time options trader who has gained recognition for his market-moving trades. As the founder of InsideOptions, he leads an exclusive educational community of traders and offers educational content to help individual investors navigate the complex world of options trading. Additionally, he manages the SPX Program Fund LP, an independent investment vehicle for accredited investors focused on institutional-grade options strategies. His trading approach, focused on the Iron Condor strategy, has made him one of the most influential retail traders in the market today.

    For more information, visit www.insideoptions.io.

    The MIL Network –

  • MIL-OSI Banking: Samsung Launches Galaxy F56, its Slimmest F Series Smartphone in India

    Source: Samsung

     

     
    Samsung, India’s largest consumer electronics brand, today announced the launch of Galaxy F56 5G, the slimmest smartphone in the F-Series portfolio. The smartphone is only 7.2mm slim and stands out with several segment-leading features such as flagship grade camera, 6 generations of Android upgrade cycle, Gorilla Glass Victus+ protection on both front and back and advanced AI editing tools.
     
    “With the launch of Galaxy F56 5G, Samsung is reaffirming its commitment to bringing meaningful innovation to empower customers’ lives through powerful, future-ready technology. Galaxy F56 5G brings a perfect blend of design and functionality to deliver top tier experiences to the young consumers looking for a smartphone that complements their lifestyle,” said Akshay S Rao, Director, MX Business, Samsung India. 
     
    Flagship Grade Camera
    Galaxy F56 5G comes with a flagship-grade 50MP OIS triple camera to shoot high-resolution and shake-free videos and photos. The smartphone also features a stunning 12MP HDR front camera for rich and vibrant selfies. The cameras on Galaxy F56 5G are designed for vivid photos and videos—even in low light, thanks to its Big Pixel Technology, Low Noise Mode and AI ISP, taking its Nightography to a different level.  It also features Portrait 2.0 with 2X zoom on the rear camera which enables crisp and natural bokeh effect. Users will also be able to record 4K 30 FPS videos in 10-bit HDR, capturing a wide range of colours for true-to-life output. Galaxy F56 5G will also feature advanced AI-powered editing tools like Object Eraser, Edit Suggestions that make every shot social-ready.
     
    All new Design, Display and Unmatched Durability
    Galaxy F56 5G is only 7.2mm slim and features Corning® Gorilla® Glass Victus® protection on both front and back—making it extremely tough as well as ergonomic. It features a 6.7” Full HD+ Super AMOLED+ display with 1200 nits of High Brightness Mode (HBM) and Vision Booster technology ensuring that users effortlessly enjoy their favourite content even under bright sunlight. The 120Hz refresh rate makes scrolling through social media feed a breeze. A glass back and a metal camera deco on Galaxy F56 5G brings a refreshing and premium design upgrade to the immensely popular Galaxy F series. The smartphone will come in two vibrant and flaunt worthy colours – Green and Violet.
     
    Powerful Performance
    Powered by Exynos 1480 processor with LPDDR5X, Galaxy F56 5G is extremely fast and power-efficient. With the ultimate speed and connectivity of 5G, users can stay fully connected wherever they go, experiencing faster downloads, smoother streaming, and uninterrupted browsing. The processor delivers a swift mobile gaming experience with its flagship level vapor cooling chamber and high-quality audio and visuals.
     
    Galaxy F56 5G packs in 5000mAh battery that enables long sessions of browsing, gaming and binge watching. The massive battery allows users to stay, connected, entertained and productive without interruption. Additionally, the 45W super-fast charging support ensures that the device quickly regains power, keeping you connected and productive throughout the day.
     
    Galaxy Experiences
    Galaxy F56 5G is set to rewrite industry benchmarks by offering segment’s best 6 generations of Android upgrades and 6 years of security updates, ensuring a future-ready experience. The smartphone will come with One UI 7 out of the box.
     
    One UI 7 comes with a simple, impactful and emotive design, bringing streamlined and cohesive experience to Galaxy users. A simplified home screen, redesigned One UI widgets and lock screen allow users to intuitively and seamlessly customize their devices. For added convenience, Now Bar provides real-time updates that matter most right on the lock screen. So, during a morning run, users can easily check their progress and see what song is playing in their Galaxy Buds — all with a simple swipe, without unlocking their phone. Additionally, with deeper Google Gemini integration, controlling the device is as easy as speaking to a friend.
     
    Galaxy F56 5G will also feature one of Samsung’s most innovative security features: Samsung Knox Vault. The hardware-based security system offers comprehensive protection against both hardware and software attacks. Samsung has also introduced its innovative Tap & Pay feature with Samsung Wallet with Galaxy F56 5G, allowing consumers to make secure payments effortlessly.
     
    Product
    Variant
    Introductory Price
    Offers
     
    Galaxy F56 5G
    8GB+128GB
    INR 25999
    Including INR 2000 Instant Bank Discount
    8GB+256GB
    INR 28,999
    Including INR 2000 Instant Bank Discount
     
    Starting today, Galaxy F56 5G will be available in 2 storage variants. Customers can own Galaxy F56 5G with easy EMI options starting at INR 1556 per month through Samsung Finance+ and all leading NBFC partners.
     
     
     

    MIL OSI Global Banks –

  • MIL-OSI Security: Nurse Admits Tampering With Vials Of Fentanyl

    Source: Office of United States Attorneys

    DETROIT – A Grosse Pointe Park registered nurse, Travis Eskridge, pleaded guilty to tampering with a consumer product, specifically the Schedule II controlled substance fentanyl.  The announcement was made by United States Attorney Jerome F. Gorgon Jr.

    Gorgon  was joined in the announcement by Special Agent in Charge Ronne Malham, FDA Office of Criminal Investigations Chicago Field Office.

    Travis Eskridge, 53, of Grosse Pointe Park, Michigan, worked as a registered nurse in the emergency room at Ascension St. John Hospital.  In his guilty plea Eskridge admitted that he tampered with vials containing fentanyl, a powerful narcotic pain reliever, which he knew were intended to be administered to patients in the hospital’s emergency room. Eskridge removed fentanyl from the vials, replaced fentanyl with another liquid, and returned the tampered vials to the locked drug storage system. Eskridge did this with reckless disregard for the dangerous risk to patients that resulted from such tampering.  The defendant also admitted that he stole fentanyl vials as part of a pattern of thefts over several months.  Nurse Eskridge was immediately removed from his position at Ascension St. John Hospital in August of 2022 when the hospital discovered the tampering and thefts.     

    United States Attorney Gorgon stated, “Licensed medical professionals are supposed to be healers.  Most are. When instead of healing they create a serious risk of harm to patients, the community must and will be protected.  This Office will prosecute such cases to the fullest extent of the law.”

    “Patients rely on receiving the proper FDA-approved medications from those entrusted with their medical care,” said Special Agent in Charge Ronne Malham, Food and Drug Administration, Office of Criminal Investigations, Chicago Field Office. “We must hold medical personnel accountable when they take advantage of their unique position and tamper with medications their patients need.”

    Travis Eskridge pled guilty before United States District Judge Susan K. DeClercq.  His bond was continued under conditions that included not seeking employment as a nurse.  Eskridge is scheduled to be sentenced on September 11, 2025.

    The maximum penalties provided by statute for this offense include up to 10 years of imprisonment, a maximum fine of $250,000, and supervised release of up to 5 years.  The actual sentence imposed upon any conviction would be decided by the Court, after consideration of the United States Sentencing Guidelines.

    The case is investigated by special agents of the Food and Drug Administration. 

    MIL Security OSI –

  • MIL-OSI USA: Welch, Senate Colleagues Slam Social Security for Improperly Declaring Thousands Dead, Call for Watchdog Investigation 

    US Senate News:

    Source: United States Senator Peter Welch (D-Vermont)
    Trump Administration abused Death Master File to purge at least 6,300 Social Security numbers–including children and seniors 
    WASHINGTON, D.C. — U.S. Senator Peter Welch (D-Vt.), a member of the Senate Finance Committee, this week joined 11 Senate colleagues in slamming the Social Security Administration (SSA) for transferring thousands of Social Security numbers associated with immigrants to SSA’s Death Master File, marking them as dead to pressure ‘self-deportation,’ and demanded the agency’s watchdog launch a full investigation into the decision.  
    In their letter, the Senators emphasize that the Trump Administration’s actions exploit Social Security’s Death Master File to terminate social security numbers of living individuals without full due process violates several federal laws, including the Privacy Act, as well as bedrock constitutional rights. Even Trump’s lawyers reportedly agreed that Social Security’s actions violated the Privacy Act.  
    “This decision will result in the ‘financial murder’ of living individuals improperly placed in the file, with everything from their credit cards and banking to their ability to access healthcare and housing being ripped out from under them,” the Senators wrote in the letters to Acting Social Security Commissioner Leland Dudek and Social Security Assistant Inspector General for Audit Michelle Anderson.  
    The Senators also called on the SSA Office of the Inspector General to launch a full investigation into the agency’s decision to begin using the Death Master File for this purpose, including how an individual gets targeted, who at the agency has decision making authority, and how those who have their SSNs nullified through this process can get it fixed if there is a mistake. 
    The Trump Administration’s abuse of Social Security’s centerpiece role in America’s economy sets a dangerous precedent of allowing the government to rip away workers’ access to their earned Social Security benefits while threatening the security of all Americans. 
    “The purpose of SSA is to provide for the welfare of number-holders and their dependents, not to serve as an arm of President Trump’s immigration enforcement agenda. This move degrades the solvency, reliability, and accuracy of SSA systems and programs. It is as cruel as it is thoughtless– the impact will be felt in communities across the country and in the future of SSA programs themselves,” the Senators concluded in one of their letters to SSA. 
    In addition to Senators Welch and Wyden, the letter was signed by Sens. Bernie Sanders (I-Vt.), Mazie Hirono (D-Hawaii), Tammy Duckworth (D-Ill.), Catherine Cortez Masto (D-Nev.), Angus King (I-Maine), Elizabeth Warren (D-Mass.), Cory Booker (D-N.J.), Ben Ray Luján (D-N.M.), Patty Murray (D-Wash.), and Jeff Merkley (D-Ore).  
    Read and download the full text of the letter to SSA Acting Commissioner Dudek. 
    Read and download the full text of the letter to SSA Assistant Inspector General for Audit Anderson. 

    MIL OSI USA News –

  • MIL-OSI: How the Industry of Drones is Evolving Rapidly with New Trends and Technologies Emerging Regularly

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., May 08, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Experts in the drone industry are excited about its future. One such player said: “As we soar into a new era of technological innovation, drones are rapidly becoming a significant part of our everyday lives. From aerial photography to package delivery and from environmental monitoring to emergency response, drones are revolutionizing numerous industries.” They continued: “Artificial Intelligence (AI) and Machine Learning (ML) are at the forefront of drone technology advancements. Companies… are leading the way in this area with drones that can navigate complex environments autonomously using AI.  The market for AI in drones is expected to grow significantly, impacting sectors like agriculture, construction, and security. According to a report by MarketsandMarkets, the market size for drones with AI is expected to grow from $2.1 billion in 2022 to $6.5 billion by 2027. The trend towards increased autonomy in drone technology is gaining momentum.  Companies are developing drones that can perform complex tasks without human intervention, such as detecting leaks, inspecting pipelines, and even charging themselves. This increased autonomy is expected to boost efficiency and productivity in various sectors, including agriculture, construction, and logistics. For example, autonomous drones can be used for precision agriculture, where they can monitor crop health, apply fertilizers, and even harvest crops. The enormous commercial potential is why the global precision agriculture market size is expected to reach $19.24 billion by 2030.”   Active Companies in the drone industry today include ZenaTech, Inc. (NASDAQ: ZENA), AeroVironment, Inc. (NASDAQ: AVAV), Ondas Holdings Inc. (NASDAQ: ONDS), Palladyne AI Corp. (NASDAQ: PDYN), Red Cat Holdings, Inc. (NASDAQ: RCAT).

    MarketsandMarkets added: “Drone swarming, the coordinated operation of multiple drones, is another emerging trend. Each drone in a swarm operates autonomously yet in harmony with the others, allowing the swarm to cover larger areas and perform tasks more efficiently than a single drone. Companies… are pioneering this technology, using it to create stunning light shows at live events. However, the potential applications of drone swarming extend far beyond entertainment. For example, in search and rescue operations, a swarm of drones can cover a large area to search for signs of life, allowing rescue teams to locate and reach victims more quickly. This technology could prove invaluable in the aftermath of natural disasters, where time is of the essence. The world of drones is evolving rapidly, with new trends and technologies emerging regularly. These advancements are opening up new applications and markets, from agriculture and construction to healthcare and entertainment. As we continue to explore the potential of these versatile machines, it’s clear that drones will play an increasingly important role in our future.”

    ZenaTech (NASDAQ:ZENA) ZenaDrone Tests Proprietary Camera Enabling IQ Nano Drone Swarms for US Defense Applications and Blue UAS Submission – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a technology company specializing in AI (Artificial Intelligence) drones, Drone as a Service (DaaS), enterprise SaaS, and Quantum Computing solutions, announces that its subsidiary ZenaDrone is testing a new proprietary specialized camera that enables more efficient indoor applications such as inventory and security management, when utilizing IQ Nano drone swarms for commercial and US defense applications. The new camera prototype developed by its Taiwan component manufacturing subsidiary, Spider Vision Sensors, in collaboration with its certified electronics manufacturing partner, Suntek Global, will enable faster and more precise collection of data including multiple bar codes simultaneously scanned by multiple drones in a drone swarm. The company plans to apply for Blue UAS (Unmanned Aerial Systems) certification that lists and validates drones for military and government use.

    “Our Spider Vision Sensors subsidiary in collaboration with Suntek Global, has helped us speed up development of customized and specialized cameras required for our innovative drone swarm applications for commercial and defense customers. This partnership will continue to be invaluable as we develop our NDAA-compliant supply chain and received Blue UAS certification which will allow military and federal agencies to directly purchase our drones.,” said CEO Shaun Passley, Ph.D.

    Military and Defense departments use small autonomous indoor drones like the 10X10 inch IQ Nano for various applications such as inventory management, indoor building reconnaissance, search and rescue, training simulations, and explosives detection. ZenaDrone is also engaged in a paid trial which includes developing drone swarm applications for inventory management and security applications with a multinational auto parts manufacturer customer.

    A drone swarm is a coordinated group of autonomous drones that communicate and work together using AI and real-time data sharing, to perform tasks collaboratively without direct human control. Drone swarms enhance efficiency, accuracy, automation, and performance compared to a single drone. Autonomous drones can rapidly scan thousands of bar codes or RFID tags per second with high accuracy, providing real-time visibility into inventory without disrupting workflows. A drone swarm can also cover more ground simultaneously, dramatically reducing inventory audit times and manual labour while providing near-total inventory visibility.

    An AI drone swarm for indoor security and surveillance enhances coverage, response time, and efficiency by autonomously patrolling large areas, detecting threats, and providing real-time situational awareness. Unlike stationary cameras or human patrols, drone swarms can dynamically adapt to security breaches, track intruders, and coordinate movements to eliminate blind spots. AI-driven analytics enable them to identify anomalies, recognize faces, and detect unauthorized activity with high precision, reducing false alarms and improving security decision-making. Their autonomous nature minimizes human labor costs while ensuring 24/7 monitoring in complex environments like warehouses, data centers, or commercial facilities.

    The ZenaDrone IQ Nano is available in 10×10 and 20×20-inch sizes, designed to perform regular and frequent inspections such as bar code or RFID scanning, facility maintenance inspections, security monitoring, 3D indoor mapping and other applications inside a warehouse, distribution, or plant facility. It is designed for autonomous use featuring integrated sensors, high-quality cameras, data collection and analysis including AI methodologies. Weighing 1.5kg and with a flight time of at least 20 minutes before utilizing the automatic battery recharging station, it is designed for hovering stability and safety with obstacle avoidance capabilities.   Continued… Read this full release by visiting: https://www.financialnewsmedia.com/news-zena/

    In Additional ZENA News: ZenaTech’s (NASDAQ:ZENA) Expands Ireland Office Offering Drone as a Service (DaaS) Including Precision Agriculture to a European Market Growing at 28.6% Annually – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a technology company specializing in AI (Artificial Intelligence) drones, Drone as a Service (DaaS), enterprise SaaS, and Quantum Computing solutions, announces it will be expanding operations and opening a new, larger office and its European Headquarters in Dublin, Ireland. The new hub will facilitate the Company’s drone sales and DaaS drone services — including precision agriculture solutions — to a growing UK and European market. The Company anticipates the official grand opening during the summer of 2025.

    Strategically located near Dublin Airport and accessible via all major motorways, the new office location will serve a growing customer base in Ireland and enable growth across Europe, catering to agriculture as well as construction, renewable energy — including wind and solar farms — golf courses, racecourses, and warehouse and logistics.

    “Expanding our Dublin office and establishing a European HQ marks a new chapter in our strategy to scale our drones and DaaS offerings globally while servicing the fastest growing agricultural drone markets located in Europe. Our AI-powered drone solutions are designed to boost crop yields while reducing operational costs and provide smart, data-driven insights — empowering crop monitoring and health assessment, nutrient and resource optimization, and profitability,” said CEO Shaun Passley, Ph.D.

    The European agricultural drone market was valued at approximately USD 4.6 billion in 2023 and is projected to reach USD 43.23 billion by 2032, growing at a compound annual growth rate (CAGR) of 28.58% according to Market Data Forecast . This growth is fueled by the adoption of drones for crop spraying, mapping, pest control, seeding, and remote sensing, which enhance productivity and resource efficiency in farming. Growth is also supported by favorable European government policies and a strong focus on sustainable farming practices.    Continued… Read this full release by visiting: https://www.zenatech.com/newsroom/

    Other recent developments in the drone industry include:

    To meet the emerging air threats of today and the rapidly evolving threats of tomorrow, AeroVironment, Inc. (NASDAQ: AVAV) recently announced Titan 4, the next generation of its battle-proven, warfighter-trusted Counter-Unmanned Aerial Systems (C-UAS) technology. Titan 4 is a smaller, lighter, more powerful, highly extensible Radio Frequency (RF)-based solution to detect and defeat Group 1 and 2 drone threats.

    Titan 4 is portable and mission-adaptable—supporting mobile, dismounted, or fixed-site use—and can deploy in under five minutes to identify and neutralize threats, creating a protective dome around personnel and infrastructure. Titan 4 is 17% lighter and 73% smaller than its dual-chassis predecessor, now integrated into a single compact chassis as compared to its dual-chassis predecessor. It offers nearly 250% more transmit power with 540W of total output over six RF bands to address both current and emerging threats. For enhanced airspace awareness, AV has integrated its Titan-SV system within Titan 4 to provide operators with AI/ML-backed passive, long-range precision threat detection.

    Ondas Holdings Inc. (NASDAQ: ONDS), a leading provider of private industrial wireless networks and commercial drone and automated data solutions, recently announced it has secured a $3.4 million order for its Iron Drone Raider Counter-UAS system from renowned European defense contractor for their governmental end client. This marks the initial deployment of the Iron Drone Raider in Europe and represents a major milestone in the global expansion of Ondas’ counter-UAS business.

    “Ongoing geopolitical instability and the rapid proliferation of hostile drone technologies have intensified the urgency for effective counter-UAS capabilities across NATO-aligned and partner nations,” said Eric Brock, Chairman and CEO of Ondas. “This order reflects the rising global demand for autonomous aerial defense systems that can be rapidly deployed, scaled, and adapted to modern threat environments. Iron Drone Raider delivers a differentiated solution for military and homeland security operators charged with safeguarding critical infrastructure and civilian populations from increasingly sophisticated aerial threats.”

    Palladyne AI Corp. (NASDAQ: PDYN), a developer of artificial intelligence software for robotic platforms in the defense and commercial sectors, and Red Cat Holdings, Inc. (NASDAQ: RCAT), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, recently announced a significant testing milestone in their ongoing collaboration—the completion of an autonomous, cross-platform collaborative flight involving three diverse heterogeneous drones.

    During this most recent testing, which leveraged Red Cat’s Teal 2 and Black Widow drones and the Palladyne™ Pilot AI software, each platform operated using onboard edge computing and constrained communication protocols without reliance on centralized infrastructure to communicate. The system enabled real-time, distributed detection and tracking of multiple dynamic and static ground objects—including humans and vehicles—in different regions of interest, providing a single operator with comprehensive situational awareness. The two companies previously announced a successful two-drone flight operation in January 2025, and Palladyne AI announced a single-drone testing scenario in December 2024 to autonomously identify, prioritize, and track terrestrial targets.

    About FN Media Group:

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    DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated fifty one hundred dollars for news coverage of the current press releases issued by ZenaTech, Inc. by the Company. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

    This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected.” You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

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    SOURCE: FN Media Group

    The MIL Network –

  • MIL-OSI: Beam Global Reports 23% Increase in Q1 2025 Orders for its EV ARC™ Off-Grid Solar-Powered Charging Units Over Previous Quarter

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, May 08, 2025 (GLOBE NEWSWIRE) — Beam Global, (Nasdaq: BEEM), a leading provider of innovative and sustainable infrastructure solutions for the electrification of transportation and energy security, today announced a broad range of new orders for its EV ARC™ off-grid solar-powered charging units, despite a reduction in federal demand. The 23% quarter-over-quarter increase in orders reflects growing demand for clean, resilient infrastructure solutions across a wide variety of sectors and regions.

    Recent orders were placed by a mix of municipal and county governments, state and federal agencies, environmental organizations, and private sector companies including those in construction, clean energy, and technology. The orders came from multiple states including California, Arizona, Colorado, Florida, Michigan, and Washington.

    “This increase in quarter-over-quarter orders is at almost exactly the same rate as the growth of electric vehicle sales in the U.S. and demonstrates the success of our shifting focus toward commercial customers rather than the federal government following the recent election, even as we continue to receive orders from federal entities, albeit at a reduced rate,” said Desmond Wheatley, CEO of Beam Global. “It also proves that while we are focusing heavily on growth in Europe, the Middle East and Africa, we are still performing strongly in the U.S. We look forward to this growth continuing throughout the year on a global scale.”

    As demand for electric vehicles continues to rise, with global EV sales up 29% in 2025 and a 16% increase in North America alone, Beam Global remains at the forefront, delivering innovative, sustainable solutions that help public and private sector organizations meet their climate and operational goals.

    To learn more about Beam Global’s solutions, visit www.BeamForAll.com.

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

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

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

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

    A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f5e6095f-b0ab-4cb4-8793-e5fc32cc9e33

    The MIL Network –

  • MIL-OSI Europe: Alþingi approves Framework for Íslandsbanki Public Offering

    Source: Government of Iceland

    Alþingi has today approved amendments to Act No. 80/2024 on the Disposal of the State’s Remaining Shares in Íslandsbanki hf. A fully marketed offering is planned for the first half of the year, with Icelandic individuals receiving priority access. The legal framework enacted last year ensures that due consideration is given to objectivity, efficiency, equality, and transparency in the offering process.

    The amendments to the law include the addition of a third order book, Order Book C. The Order Book provides regulated professional investors who invest on their own account and have assets exceeding 70 billion ISK, a more traditional allocation process and is expected to increase the volume of shares sold. The change follows expert advice of bookrunners with the aim of ensuring the participation of all investor groups and enhance interest from large investors, without infringing on the priority access of individuals.

    Individuals will continue to be guaranteed priority and the lowest price in Order Book A. Order Book B will maintain the Dutch auction method, in which both individuals and legal entities can participate. With these three order books, the participation of all investor groups is ensured, increasing the likelihood that the state will receive a favorable price for its share.

    Daði Már Kristófersson, Minister of Finance and Economic Affairs:

    “The updated structure of the offering is better suited to fulfilling the legal requirements of efficiency, equality, objectivity, and transparency in its execution. It is important that the Treasury receives as much as possible for its share in order to reduce the government’s debt ratio without affecting the priority of individuals, that will continue to be ensured.”

    MIL OSI Europe News –

  • MIL-OSI China: China’s inbound consumption rises on back of eased tax refund processes

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

    China witnessed a vibrant surge in inbound tourist consumption during the recent May Day holiday as more foreign visitors flocked to Chinese attractions and left with full shopping bags, driven by the country’s recently optimized tax refund policies.

    Central bank data has revealed that the number of transactions made by inbound visitors and processed through card payment giant China UnionPay or NetsUnion Clearing Corporation, a Chinese online payment clearing house, increased nearly 245 percent over the five-day holiday that ended on Monday, with the total transaction value up over 128 percent year on year.

    On mobile platforms, popular Chinese payment app Alipay reported a 180 percent rise in inbound tourist spending between May 1 and 3, while WeChat Pay recorded nearly tripled foreign user transaction volume and value figures in China compared to the same period last year.

    This rise in inbound consumption is the fruit of China’s latest push to encourage foreign tourist spending. In late April, the country introduced a package of measures to optimize its departure tax refund policy, including lowering the minimum purchase threshold for refunds, raising the cash refund ceiling, expanding the network of participating stores, and widening the range of products available.

    Overseas travelers in China can now claim a tax refund if they spend at least 200 yuan (about 27.75 U.S. dollars) at a single store in a single day and meet other relevant requirements, with refunds available in multiple forms, including mobile, bank and cash payments. The upper limit for cash refunds has been raised to 20,000 yuan.

    China’s metropolises led the shopping surge. From May 1 to 5, Beijing welcomed some 104,000 inbound tourists — up 42.4 percent year on year — whose spending saw a 48 percent year-on-year increase.

    In Shanghai, tax-refund-on-departure sales jumped 120 percent in value during the holiday, and the amount of tax refunded increased 130 percent. So far, 1,013 enterprises have registered for departure tax refund services, covering more than 3,300 branded stores.

    China’s streamlined tax refund process has also had an impact on figures. Right before this year’s May Day holiday, taxation authorities in Shanghai introduced self-service machines that allow foreign shoppers to submit most of their transaction details for their tax refund applications by scanning their passport and receipts.

    In the southwestern city of Chengdu, a refund-upon-purchase service which allows eligible tourists to receive tax refunds instantly at retail outlets rather than waiting until they leave the country, has benefited many foreign tourists during the holiday.

    “It’s so convenient, and I’m planning to buy more,” said a tourist from Singapore who received a refund of over 4,000 yuan when he bought two pieces of luggage at Chengdu IFS, one of the biggest shopping malls in the city.

    “Providing overseas travelers with a greater variety of shopping options and more convenient tax refund services will stimulate inbound consumption and support China’s high-standard opening-up and economic growth,” said Chen Binkai, vice president of the Central University of Finance and Economics.

    China introduced its departure tax refund policy for overseas travelers in 2015. Inbound tourist spending has increased over the years as China opens wider to global visitors by facilitating visas, payments and accommodation.

    The country now grants unilateral visa-free entry to people from 38 countries, and has extended its visa-free transit period to 240 hours for travelers from 54 countries. About 380,000 foreigners entered China under these arrangements during the May Day holiday, a year-on-year increase of 72.7 percent.

    China is also accelerating its development of international consumption center cities to stimulate inbound spending further. The country is working to transform five cities — Shanghai, Beijing, Guangzhou, Tianjin and Chongqing — into major shopping centers.

    In 2024, the number of inbound foreign travelers to the five cities doubled compared to the previous year. Together, they now account for nearly 70 percent of the country’s departure tax refund stores and more than half of imported consumer goods.

    “China’s inbound consumption holds great growth potential,” said Vice Commerce Minister Sheng Qiuping, noting that last year, spending by overseas visitors contributed about 0.5 percent of the country’s GDP, compared to 1 to 3 percent in major economies. 

    MIL OSI China News –

  • MIL-OSI USA: Opening Remarks at the SEC Town Hall

    Source: Securities and Exchange Commission

    Thank you very much for coming to our first “town hall” meeting together. To those of you here with me at our headquarters in Washington, it is so great to see you. And, let me add an especial welcome to you who are joining from our regional offices around the country.

    I am pleased that we can meet today to discuss the SEC; our important mission on behalf of our fellow citizens, investors, and taxpayers; as well as some of my priorities as your new Chairman.

    First and foremost, I take great pride in saying that it is a new day here at the SEC. We are returning to our core mission that Congress set for us. All of us can recite the familiar three-part mission enunciated by Congress in the Exchange Act:  protecting investors; furthering capital formation; and safeguarding fair, orderly, and efficient markets. We see these phrases on our website, on the walls of this building, in our public pronouncements. They are at the core of what brings us to work every day.

    Investor protection is the cornerstone of our mission—to hold accountable those who lie, cheat, and steal. Capital formation is at the root of what we do. Otherwise, why have the financial markets? Capital formation—building a direct, economical route for investors’ capital to find its way to entrepreneurs and industry that put capital to work to create products and services that people value and willingly pay for, because these products and services make their lives some combination of better, healthier, safer, longer, more fun. This engine of growth employs people, helping them to work and save to achieve their dreams. It is responsible for lifting them out of the poverty that unfortunately has been the traditional state of humanity for millennia.

    We should not overlook the part about fair, orderly, and efficient markets. Congress calls on us to ensure that our regulations balance costs and benefits, that they do not become too burdensome that they add needless friction to the marketplace, undermining the capital formation that yields so much benefit.

    But, what if the SEC’s leadership has directed the agency, which oversees and is responsible for the markets, to lose its own fairness, orderliness, and efficiency? Does that undermine the markets’ own approach if their policeman comports itself with inconsistent values? Predictability, due process, rule of law, integrity are all part of what create respect and project a sense that one can get a fair shake without vindictiveness or ulterior motives.

    Unfortunately, in the last four years until January, the SEC’s long-held reputation has suffered in that vein.

    Two weeks ago today, I was sworn in by Secretary of the Treasury Scott Bessent in the Oval Office with President Trump; my family was by my side. It was an optimistic moment in the Oval.

    I am honored by the trust and confidence that the President and the Senate placed in me to lead the SEC.

    There are so many people to whom I am thankful for helping make my appointment by President Trump even possible.

    As you know by now, I was a Commissioner from 2002 to 2008, after serving on the staff of two chairmen – Richard Breeden and Arthur Levitt. My time in public service and the private sector, both earlier in my career and more recently, have allowed me to see firsthand how regulations affect markets and investors. They can stoke innovation, facilitate investment goals, and create opportunities—or burdens—on businesses’ ability to compete and serve their customers.

    So, how we implement regulations at the SEC is crucial; it is one thing to write a regulation, quite another for it to achieve its intended goal. Regulation ideally should be smart, effective, and appropriately tailored within the confines of our statutory authority.

    It takes market experience and focused application to ensure that customers and investors of financial services firms benefit from efficient, effective, and well-designed regulation. Our goal at the SEC should be to facilitate those efforts, analyze their effectiveness, and use our enforcement power to cure and rectify wayward actions.

    In short, clear rules of the road benefit all market participants.

    Returning to this agency has been a pleasure. I have very much enjoyed seeing all the friendly faces, meeting with staff, and reconnecting with many colleagues I remember from years ago.

    I know from my own experience that the SEC’s longstanding reputation for its dedicated and highly skilled professionals is justly deserved. Your knowledge and expertise continue to impress me. I want you to know that I value and appreciate you.

    It is a high calling to work every day to protect investors, facilitate capital formation, and maintain, fair, orderly, and efficient markets. Thank you for your commitment to our mission.

    I am grateful to Commissioner Uyeda—who once upon a time was my counsel—for his stewardship of the agency from January to April, a very productive three months. Thank you, Commissioner Uyeda.

    As we look ahead, I am confident in the direction of our work. My experience over the decades will naturally inform my approach as Chairman. I told the press—who were peppering me with questions during the last crypto roundtable—that I have a list of priorities as long as my arm that I would like to achieve.

    It should be no surprise that high on that list is a sensible approach toward crypto. From 2017 until my nomination, I worked to help develop best practices for the digital assets industry and saw firsthand how ambiguous or nonexistent regulations in this space created uncertainty and inhibited innovation. That lack of regulatory framework also invites fraud.

    A top priority for me will be to tackle regulatory treatment of digital assets and distributed ledger technologies, providing a firm regulatory foundation through a rational, coherent, principled approach.

    I thank Commissioner Peirce, our own “Crypto Mom,” who is working hard on this issue.  I am proud to say that she also was once upon a time my counsel when I was Commissioner. She is known for her principled and tireless advocacy for common-sense policy. I am confident that she is the right person to lead this effort to come up with a rational regulatory framework for crypto asset markets.

    I am pleased with the efforts of the Crypto Task Force and the three roundtables it has held so far on defining security status, tailoring regulation for crypto trading, and custody considerations. I look forward to the input from industry and additional public feedback we will get during the next two roundtables on the topics of tokenization and decentralized finance.

    This is important work. Entrepreneurs across the United States and around the world are harnessing blockchain technology to modernize aspects of our financial system. I expect huge benefits from this market innovation for efficiency, cost reduction, transparency, and risk mitigation.

    This is a pivotal moment for our economy. Entrepreneurs, businesses, and individuals here at home and across the globe are eager to invest in America.

    We will work together to protect investors from fraud, keep politics out of how our securities laws and regulations are applied, and advance clear rules of the road that encourage investment in our economy to the benefit of all Americans.

    We will work together to ensure that regulations promote capital formation rather than stifle it. We will work together to ensure American investors get disclosures that actually help them understand the true risks of an investment.

    Together, we will make every effort to ensure that the U.S. is the best and most secure place in the world to invest and do business. Americans should always feel utmost confidence when investing their hard-earned dollars to save and provide for their future and the future of their families.

    I cannot say that the current times are not without uncertainty. Many of you have expressed your uncertainty to me. What will the course of the agency be? Will there be further cuts in headcount? Will we maintain regional offices?

    I am in my third week at the SEC—my 10th working day is today. I thank Commissioner Uyeda for his work during the transition time to straighten out some urgent policy issues that we faced in the courts and some organizational issues as the new Administration came into office.

    As we look forward, I am counting on Commissioner Peirce’s continued leadership of the Crypto Task Force. I would like Commissioner Uyeda to be an ambassador to IOSCO since I have enough to focus on at home. I also am happy to say that Commissioner Crenshaw has agreed to take on the SEC’s administrative law framework and procedure in light of the two Supreme Court rulings that in effect oblige us to rethink and reform this area. It is high time that we take that task to heart.

    We have had departures—many of our former colleagues accepted retirement or separation offers. I count many of them as old friends, and I salute their service over many years.  The Offices and Divisions have decreased headcount by 15% since the beginning of the current fiscal year. These departures leave vacancies that in many cases need to be filled. When I left the agency in 2008, we had approximately 3,600 employees. At our height a year ago, we had approximately 5,000 employees plus 2,000 contractors. Today we are at approximately 4,200 employees and 1,700 contractors.

    Tomorrow we will begin a process to review our technology infrastructure and our contractual obligations. This review is long overdue—call it a spring cleaning and reassessment of contracts, especially regarding information technology. We need to see what we have, where our vulnerabilities are, and how we can shore up and improve our systems.

    We will work on optimizing our efficiency. There will be targeted, common-sense reorganization to come. We also have leasing issues to be resolved—notably in Los Angeles and Philadelphia. I am working on those issues and share your concerns. Unfortunately, about 11 years ago, the agency precipitously surrendered to the General Services Administration its control over leasing, which Congress specifically granted the SEC in the Exchange Act. That action puts me in a weaker position today.

    Let me say unequivocally that I firmly believe in our regional office concept. We cannot and should not have everyone in Washington and New York. Risk management, human resource development, and practicality for our examination teams (to focus on one example) provide ample reinforcement for that position.

    I also want to salute our regional teams for their expertise and collaboration across offices to find the best resources to assign to matters. At least one direct experience that I had in the past year in which my firm was an independent compliance consultant indicates that the SEC has advanced quite a bit in this coordination over the past couple of decades. Two of our SEC colleagues from the Miami office with necessary, specific expertise played a key role in uncovering problematic activity of a Philadelphia asset manager by meticulously analyzing trades—going back to the trade blotters—to build a case.

    As I said at the outset of my remarks today, it is a new and brighter day for the SEC.

    I am here to work, with each of you, on behalf of American markets and investors. We will work with our colleagues in the Administration, especially other financial services regulators, notably the CFTC and banking regulators, and, of course, with Congress to bolster the economy and build on U.S. leadership of the global markets.

    Thank you for all that you do each and every day to advance our mission.

    If you are joining us remotely today, thank you for participating. I look forward to interacting with you in person in the near future. For those of you here at headquarters, please join me for some refreshments right outside.

    Thank you.

    MIL OSI USA News –

  • MIL-OSI: Occupancy Analytics Leader Lambent Adds Two Higher Ed Veterans to its Board of Advisors

    Source: GlobeNewswire (MIL-OSI)

    BOSTON, May 08, 2025 (GLOBE NEWSWIRE) — Occupancy analytics software company Lambent today announced the addition of two new members to its Board of Advisors. Robert Wynkoop, Vice President of Operations and Finance at Covenant College, and Maria O’Callaghan-Cassidy, former Senior Associate Vice President, Campus Operations at the University of Richmond, join Lambent’s advisory board to help build on the company’s success working with higher education institutions and corporations. Both bring an invaluable perspective on how occupancy analytics can help optimize organizations’ approaches to real estate investment and space management while also providing employees, students and visitors with the best possible experiences in those spaces.

    “Rob and Maria both bring a great mix of operational and finance experience across higher education, government and corporate real estate,” said Julie Roberts, Lambent’s Co-Founder and Chief Strategy Officer. “Rob also has first-hand experience and success with the Lambent Spaces platform. That combination provides a really valuable perspective as we look to expand the value and footprint of our solutions across corporate and higher ed campuses.”

    In his role as Vice President of Operations and Finance at Covenant College, Wynkoop oversees finance and accounting, business operations, facilities and maintenance, human resources, and technology services. Before joining Covenant in 2024, he spent 11 years at Purdue University, where his team managed space administration, real estate and development, logistics and procurement services on campus and at the Purdue University Airport, the Purdue Memorial Union, and Purdue Conferences. While at Purdue, Wynkoop oversaw the implementation of the Lambent Spaces occupancy analytics platform that currently helps manage over one million square feet on its West Lafayette campus. That implementation has assisted Purdue in avoiding approximately $30 million in operating expenses through better space utilization. Earlier in his career, Wynkoop served at the Indiana Department of Administration (IDOA) under Governor Mitch Daniels, holding the position of commissioner from 2010 to 2013.

    O’Callaghan-Cassidy brings extensive experience in higher education facilities management and campus operations. Most recently as Senior Associate Vice President of Campus Operations at the University of Richmond, she led a team of 400+ professionals across dining services, campus business services, facilities operations, architecture and campus operations budget and finance. Previously, she spent 25 years at The Wharton School where she rose through the ranks from Manager of Scheduling and Facilities Services to Senior Director of Operations to Executive Director of Design & Construction and Facilities Planning and Operations.

    About Lambent
    Lambent is an occupancy analytics software company helping corporate and higher ed campuses optimize space utilization, facilities operations and real estate investments. Its SaaS platform, Lambent Spaces, leverages existing data sources such as Wi-Fi and sensors to provide anonymous and predictive analytics to inform decisions related to utilization, workplace experiences, planning, scheduling, and maintenance. The software delivers actionable intelligence so facilities professionals and space planners can make better use of the spaces they have. For more information, visit https://lambentspaces.com/.

    The MIL Network –

  • MIL-OSI: Micropolis Unveils Advanced Border Control Robots at Airport Show 2025 in Dubai

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, May 08, 2025 (GLOBE NEWSWIRE) — Micropolis Holding Co. (“Micropolis” or the “Company”) (NYSE: MCRP), a pioneer in unmanned ground vehicles and AI-driven security solutions, today unveiled new specialized border control versions of its M1 and M2 robotic mobility platforms at the Airport Show 2025, the region’s leading annual event dedicated to the airports industry, being held on May 6-8 in Dubai. These cutting-edge autonomous vehicles were presented to the UAE National Guard as part of a new pilot initiative aimed at enhancing national border protection capabilities.

    Micropolis is working closely with the UAE National Guard, the official entity overseeing border control across the Emirates, to evaluate the deployment of robotic patrol systems designed to operate in high-security zones, including airports and land checkpoints. These robots are equipped with advanced surveillance sensors, AI-driven behavior analysis, and autonomous navigation systems, enabling them to detect, deter, and report potential threats with minimal human intervention.

    “This marks a pivotal milestone in our defense and homeland security initiatives,” said Fareed Aljawhari, CEO of Micropolis Holding Co. “By integrating robotics into border control operations, we are reshaping the future of national security with intelligent, scalable, and fully autonomous technology.”

    Robotic Platform Highlights:

    • M01 – Designed for open road operations with speeds ranging between 40-47 km/h, making it ideal for faster-paced environments and longer-distance travel.
    • M02 – Crafted for more enclosed settings with a speed range of 10 to 15 km/h, making it ideal for safe, low-speed operations in pedestrian-rich areas.

    The launch comes at a time when governments and security agencies worldwide are increasingly turning to AI-powered systems to improve operational efficiency and reduce dependency on manual surveillance. The Airport Show 2025, a globally recognized event for aviation and security technologies, served as the ideal platform for introducing this innovation to key defense and aviation stakeholders.

    Micropolis continues to expand its global footprint in the security, defense, and smart mobility sectors. The Company remains committed to pioneering autonomous technologies that address some of the world’s most pressing security challenges.

    About Micropolis Holding Co.
    Micropolis is a UAE-based company specializing in the design, development, and manufacturing of unmanned ground vehicles (UGVs), AI systems, and smart infrastructure for urban, security, and industrial applications. The Company’s vertically integrated capabilities cover everything from mechatronics and embedded systems to AI software and high-level autonomy.

    For more information please visit www.micropolis.ai.

    Forward-Looking Statements
    This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as “anticipate”, “estimate”, “expect”, “project”, “plan”, “intend”, “believe”, “may”, “will”, “should”, “can have”, “likely” and other words and terms of similar meaning. Forward-looking statements represent Micropolis’ current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other factors discussed in the “Risk Factors” section of the registration statement filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

    Investor Contact:
    KCSA Strategic Communications
    Valter Pinto, Managing Director
    PH: (212) 896-1254
    Valter@KCSA.com

    Media Contact:
    Jessica Starman
    media@elev8newmedia.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2b68b867-8839-45a1-8a1f-273572319218

    The MIL Network –