Category: Finance

MIL-OSI Asia-Pac: LCQ18: Combating fraud of Comprehensive Social Security Assistance

Source: Hong Kong Government special administrative region

     Following is a question by the Hon Dominic Lee and a written reply by the Secretary for Labour and Welfare, Mr Chris Sun, in the Legislative Council today (February 19):

Question:

     It has been reported that the number of fraud cases involving the Comprehensive Social Security Assistance (CSSA) has been on the rise in recent years, and quite a number of them involve the concealment of assets or income outside Hong Kong. Such a situation has aroused concerns. In this connection, will the Government inform this Council:

(1) of the respective numbers of reports of suspected CSSA fraud received by the Government and established fraud cases, as well as the amount of overpayment successfully recovered in each of the past five years; among those established fraud cases, of the proportion of cases involving the concealment of assets or income outside Hong Kong;

(2) whether it has assessed if the existing 120 officers under the six special investigation teams of the Social Welfare Department are sufficient to cope with the large number of reported cases, and whether it has plans to increase the manpower for conducting investigations and upgrade the investigation techniques; if it has, of the details; if not, the reasons for that;

(3) whether the Government has adopted technologies (e.g. artificial intelligence or big data analysis methods) to proactively identify and strengthen the monitoring of CSSA cases with high fraud risks; if so, of the details; if not, the reasons for that;

(4) how the Government currently verifies the CSSA applicants’ asset and income profile in the Mainland or overseas; whether it has plans to enhance the mechanism for sharing the relevant information with the Mainland and other regions; if so, of the details; if not, the reasons for that; and

(5) apart from the existing measures in place, whether the Government will consider introducing other measures to combat CSSA fraud, such as increasing penalties, strengthening interdepartmental cooperation within the Government and enhancing the information verification mechanism?

Reply:

President,

     As part of Hong Kong’s social security system, the Comprehensive Social Security Assistance (CSSA) Scheme provides a safety net of last resort for people who cannot support themselves financially due to old age, ill health, disability, single parenthood, unemployment, low earnings or for other reasons to help them meet their basic needs. There are stringent means tests in place under the CSSA Scheme to ensure that finite public resources are targeted at needy persons.

     The CSSA applicants and their household members must truthfully declare relevant information including income and assets in and outside Hong Kong when submitting their applications. In processing the applications, the Social Welfare Department (SWD) will interview the applicants, conduct home visits and, where necessary, verify the information submitted by the applicants and/or their household members with their employers, ex-employers or landlords.

     The SWD adopts a risk-based approach to processing CSSA cases. This includes regular review of all approved cases through various means (such as interviews, home visits or in writing), whereby recipients will be required to re-declare income and assets such that their continued eligibility for CSSA can be verified; adopting different review cycles for approved cases according to their risk levels; and conducting spot-checks on CSSA cases with appointees or agents to ensure that they have properly managed the cash assistance. In addition, the SWD conducts data-matching with other government departments and organisations (such as the the Immigration Department, Treasury, Land Registry and Companies Registry) periodically and on a need basis for information verification and analysis, so as to identify suspicious cases for in-depth investigation.

     In case the SWD suspects that an applicant or a recipient has not truthfully declared income or assets, or has even placed assets outside Hong Kong to circumvent the means tests, the SWD will proactively conduct in-depth investigation and take follow-up actions, and refer more serious cases to enforcement agencies for investigation. Where necessary, the SWD will also proactively communicate and verify with government departments or organisations (such as banks) of the places where assets are allegedly concealed.

     If a recipient is no longer eligible for CSSA, the SWD will demand him/her to repay the overpayment (if any) as soon as possible. Anyone who knowingly or wilfully provides false statements or withholds any information to obtain CSSA by deception commits an offence. Apart from being disqualified from CSSA, he/she may even be prosecuted under the Theft Ordinance (Cap. 210), liable to a maximum penalty of 14 years of imprisonment upon conviction.

     CSSA fraud is not common. In recent years, the number of substantiated fraud cases only accounted for about 0.1 per cent to 0.3 per cent of the total number of cases. The relevant figures from 2020-21 to 2024-25 are set out at Annex. The SWD does not maintain a breakdown of CSSA fraud cases with successfully recovered overpayment or involving concealment of assets or income outside Hong Kong.

     Staff of the SWD’s Social Security Field Units (SSFUs) across districts and its Special Investigation Teams (SITs) vet and review CSSA applications and approved cases as well as investigate suspected CSSA fraud cases according to their respective duties. The SITs underwent a re-structuring in July 2019 and hired an additional Chief Social Security Officer to enhance the monitoring of data-matching and spot checks of cases amongst other duties. In September 2021, the SITs were further staffed up to strengthen the work of case investigation. At present, more than 1 400 Social Security Grade officers in the SWD’s SSFUs across districts are involved in vetting applications, reviewing approved cases and investigating suspected cases, while the six SITs comprise about 120 Social Security Grade officers. The SWD also employs three former disciplined forces officers as investigation advisers to assist in handling more complex or serious cases.

     To ensure proper use of public monies, the SWD will continue its efforts in counteracting CSSA fraud, and continue to review and optimise the effectiveness of relevant measures, including investigation manpower and methods.

MIL OSI Asia Pacific News –

February 20, 2025
MIL-OSI Asia-Pac: LCQ16: Professional Services Advancement Support Scheme

Source: Hong Kong Government special administrative region

LCQ16: Professional Services Advancement Support Scheme
LCQ16: Professional Services Advancement Support Scheme
*******************************************************

Following is a question by the Hon Maggie Chan and a written reply by the Secretary for Commerce and Economic Development, Mr Algernon Yau, in the Legislative Council today (February 19): Question: The Professional Services Advancement Support Scheme (PASS) launched by the Government in 2016 with a total commitment of $200 ‍million aims at funding non-profit-making industry-led projects to increase exchanges and co-operation between Hong Kong’s professional services and external counterparts, promote relevant publicity activities, and enhance the standards and external competitiveness of Hong Kong’s professional services. In addition, the Government has set aside $50 ‍million to launch the Professionals Participation Subsidy Programme (PSP) under PASS, which subsidises Hong Kong’s major professional bodies to participate in relevant activities organised by the Government and the Hong Kong Trade Development Council after the epidemic has stabilised in order to step up the promotion of Hong Kong’s competitive edges and professional services to external parties. In this connection, will the Government inform this Council: (1) of the following information on the Main Programme of PASS from August 2021 to November last year: the number of (i) funded and (ii) ‍rejected projects, (iii) the number of beneficiary organisations, (iv) the average amount of grant for approved projects, and (v) the beneficiary sectors and their proportions; (2) given that according to the paper submitted by the Government to the Finance Committee of this Council on July 8, 2016, the funding of $200 million allocated to PASS could sustain its operation up to around 2021-22, of the total amount of grants involved in the approved projects of PASS since its launch, and whether the Government has re-assessed up to when the funding can sustain the operation of PASS; (3) of the following information on the PSP since its launch: (i) the number of applications approved, (ii) the total amount of subsidies granted, and (iii) the number of beneficiaries; (4) as there are views pointing out that international legal and dispute resolution services are among the several industries in which Hong Kong can utilise its unique advantages under “one country, two systems”, whether the Government has compiled statistics on the number of applications for PASS funding submitted by organisations in the legal sector and the proportion they account for, and analysed their reasons for applying; of the highest and lowest amounts of funding granted for such applications; (5) whether it has reviewed if the number of applications under PASS has resumed to the pre-epidemic level after the Government’s lifting of all mandatory mask-wearing requirements in March 2023; if the number of applications has resumed to the pre-epidemic level, of the details; if not, whether it has studied the reasons for that; and (6) apart from issuing a press release on December 1 last year announcing that PASS would accept a new round of applications, whether the Government has formulated other promotion plans for PASS; if so, of the details; if not, whether it will formulate the relevant plans expeditiously? Reply: President, The Professional Services Advancement Support Scheme (PASS), launched in November 2016 with a total commitment of $200 million, aims to support Hong Kong’s professional services sector in undertaking worthwhile projects to strengthen exchanges and co-operation with external counterparts, promote relevant publicity activities, and enhance service standards and external competitiveness. Since the launch of the Main Programme of PASS, nearly 120 projects have been funded, involving a total grant of about $80 million. In addition, it was announced in the 2020 Policy Address that the Government would set aside $50 million under PASS to set up the Professionals Participation Subsidy Programme (PSP), which subsidises Hong Kong’s major professional bodies to participate in relevant activities organised by the Government (e.g. Hong Kong Economic and Trade Offices) and the Hong Kong Trade Development Council after the pandemic situation has stabilised, with a view to stepping up promotion of Hong Kong’s competitive edge and professional services to Mainland cities and overseas markets. My reply in response to the question raised by the Hon Maggie Chan is as follows: (1), (3) and (4) From August 2021 to November last year, a total of 41 projects were funded under the PASS Main Programme, involving 24 applicants with a total grant of about $24 million. The average amount of grant for each project is about $600,000. A total of 25 applications were not funded. Among the beneficiary sectors, health-related services accounted for about 40 per cent, legal services accounted for about 20 per cent and building and construction-related services accounted for around 15 per cent. Beneficiary sectors of the remaining projects included design services, information and communications technology services etc. Projects related to legal services involved four applicants, with the highest and lowest amounts of grant approved being around $1.1 million and $270,000 respectively. As for the PSP, since the stabilisation of the pandemic and easing of travel restrictions at the end of 2022, a total of 14 activities were funded. Nearly 300 local professionals participated, involving a total subsidy of about $3.4 million. (2) As mentioned in the first paragraph above, since the launch of the PASS Main Programme in 2016, the total amount of grant approved is about $80 million, averaging around $10 million of funding approved per year. With reference to the average annual funding approved in the past, it is expected that the funding of $150 million designated for the Main Programme can sustain its operation until around 2031-32, though the actual situation will depend on the number of applications submitted by applicants and the amount of grant approved for each project. (5) and (6) The number of applications under PASS during the pandemic was similar to those before and after the pandemic. Most of the applicants conducted their projects online during the pandemic, hence the relatively low amount of funding applied. The projects have now resumed in a physical format. We have been actively promoting PASS through various channels, such as holding quarterly briefing sessions, sending emails to post-secondary institutions, commercial and industrial organisations as well as professional bodies, issuing press releases, and providing application information on the PASS website. We also take the initiative to reach out to and meet with commercial and industrial organisations as well as professional bodies from time to time to brief them on PASS and encourage them to actively apply for funding. Relevant promotion work is on-going.

Ends/Wednesday, February 19, 2025Issued at HKT 11:00

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MIL OSI Asia Pacific News –

February 20, 2025
MIL-OSI USA: Eclipses to Auroras: Eclipse Ambassadors Experience Winter Field School in Alaska

Source: NASA

In 2023 and 2024, two eclipses crossed the United States, and the NASA Science Activation program’s Eclipse Ambassadors Off the Path project invited undergraduate students and amateur astronomers to join them as “NASA Partner Eclipse Ambassadors”. This opportunity to partner with NASA, provide solar viewing glasses, and share eclipse knowledge with underserved communities off the central paths involved:

Partnering with an undergraduate/amateur astronomer
Taking a 3-week cooperative course (~12 hours coursework)
Engaging their communities with eclipse resources by reaching 200+ people

These Eclipse Ambassador partnerships allowed participants to grow together as they learned new tools and techniques for explaining eclipses and engaging with the public, and Eclipse Ambassadors are recognized for their commitment to public engagement.
In January 2025, the Eclipse Ambassadors Off the Path project held a week-long Heliophysics Winter Field School (WFS), a culminating Heliophysics Big Year experience for nine undergraduate and graduate Eclipse Ambassadors. The WFS exposed participants to career opportunities and field experience in heliophysics, citizen science, and space physics. The program included expert lectures on space physics, aurora, citizen science, and instrumentation, as well as hands-on learning opportunities with Poker Flat Rocket Range, the Museum of the North, aurora chases, and more. Students not only learned about heliophysics, they also actively participated in citizen science data collection using a variety of instruments, as well as the Aurorasaurus citizen science project app. Interactive panels on career paths helped prepare them to pursue relevant careers.
One participant, Sophia, said, “This experience has only deepened my passion for heliophysics, science communication, and community engagement.” Another participant, Feras, reflected, “Nine brilliant students from across the country joined a week-long program at the University of Alaska Fairbanks’ (UAF) Geophysical Institute, where we attended multiple panels on solar and space physics, spoke to Athabaskan elders on their connection to the auroras, and visited the Poker Flat Research Range to observe the stunning northern lights.”
This undertaking would not have been possible without the coordination, planning, leadership of many. Principal Investigators included Vivian White (Eclipse Ambassadors, Astronomical Society of the Pacific, ASP) and Dr. Elizabeth McDonald (Aurorasaurus, NASA GSFC). Other partners included Lynda McGilvary (Geophysical Institute at UAF), Jen Arseneau (UAF), Shanil Virani (ASP), Andréa Hughes (NASA), and Lindsay Glesener (University of Minnesota), as well as knowledge holders, students, and scientists.
The Eclipse Ambassadors Off the Path project is supported by NASA under cooperative agreement award number 80NSS22M0007 and is part of NASA’s Science Activation Portfolio. To learn more, visit: www.eclipseambassadors.org.

MIL OSI USA News –

February 20, 2025
MIL-OSI USA: 2025-28 O‘AHU GRAND JURY INDICTS FORMER NONPROFIT EXECUTIVE DIRECTOR FOR EMBEZZLING FUNDS

Source: US State of Hawaii

2025-28 O‘AHU GRAND JURY INDICTS FORMER NONPROFIT EXECUTIVE DIRECTOR FOR EMBEZZLING FUNDS

Posted on Feb 18, 2025 in Latest Department News, Newsroom

STATE OF HAWAIʻI

KA MOKU ʻĀINA O HAWAIʻI

DEPARTMENT OF THE ATTORNEY GENERAL

KA ʻOIHANA O KA LOIO KUHINA

JOSH GREEN, M.D.
GOVERNOR

KE KIAʻĀINA

ANNE LOPEZ

ATTORNEY GENERAL

LOIO KUHINA

O‘AHU GRAND JURY INDICTS FORMER NONPROFIT EXECUTIVE DIRECTOR FOR EMBEZZLING FUNDS

News Release 2025-28

FOR IMMEDIATE RELEASE

February 17, 2025

HONOLULU – On February 14, 2025, Moanaoio Bjur, 49, was indicted by the O‘ahu Grand Jury and charged with Computer Fraud in the First Degree, Theft in the First Degree, Computer Fraud in the Second Degree, and Theft in the Second Degree. Bjur was arrested over the weekend and booked on the charges.

Bjur is the former executive director of the nonprofit Conservation Council for Hawai‘i. While employed with the Conservation Council for Hawai‘i, Bjur allegedly issued herself approximately 24 unauthorized payroll payments via QuickBooks and made three unauthorized withdrawals from a PayPal account totaling just over $81,000.

Attorney General Anne Lopez stated, “Nonprofit organizations serve important charitable roles within Hawai‘i, and in exchange, they receive special tax exemptions. My department is dedicated to investigating and prosecuting those who exploit their positions within nonprofit organizations to steal funds intended for the public good within our communities.”

Computer Fraud in the First Degree is a class A felony offense punishable by up to 20 years in prison and a $50,000 fine. Theft in the First Degree and Computer Fraud in the Second Degree are class B felony offenses punishable by up to 10 years in prison and a $20,000 fine. Theft in the Second Degree is a class C felony offense punishable by up to five years in prison and a $10,000 fine.

The investigation was conducted by the Department of the Attorney General’s Special Investigation and Prosecution Division (SIPD). SIPD is the state of Hawai‘i’s primary law enforcement unit responsible for investigating and prosecuting corruption, fraud, and economic crimes.

The case, State v. Moanaoio Bjur, 1CPC-25-0000178, is being prosecuted by SIPD Deputy Attorney General Thomas Michener. A copy of the indictment can be found here.

Bjur is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.

# # #

Media contacts:

Dave Day

Special Assistant to the Attorney General

Office: 808-586-1284

Email: [email protected]

Web: http://ag.hawaii.gov

Toni Schwartz
Public Information Officer
Hawai‘i Department of the Attorney General
Office: 808-586-1252
Cell: 808-379-9249
Email: [email protected]

Web: http://ag.hawaii.gov

MIL OSI USA News –

February 20, 2025
MIL-OSI USA: Teenagers Turning to AI Companions Are Redefining Love as Easy, Unconditional, and Always There

Source: US State of Connecticut

Teenagers are falling in love with chatbots. Young people are reporting epidemic levels of loneliness, and some are turning to technology to fill the void. Recent tragedies provide a glimpse into the extent of this trend and the dangers it poses.

A 14-year-old boy’s suicide following a romantic relationship with an AI companion raised national alarms about the dangers these relationships may pose to young people’s mental and emotional development. In 2021, a 19-year-old who had been in an emotional relationship with an AI companion broke into Windsor Castle with a crossbow, saying that he was going to kill the queen. The chatbot gave encouraging responses when he told it of his intention to kill the queen.

These teens were among the tens of millions of people who use AI chatbot companions, a number that market forecasters expect to dramatically increase by the end of the decade.

This youthful trend of choosing chatbots as romantic partners is both responding to and accelerating fundamental changes in how people define love in the 21st century. As a literary historian, I’ve studied how stories about romantic love have evolved over time, with young people often at the forefront of change.

For centuries, weddings primarily served to consolidate political and economic alliances rather than unite soulmates. The radical notion that marriage should spring from romantic love came into vogue in the 17th and 18th centuries, aided by new technologies like the novel. Works such as “Clarissa” and “Wuthering Heights” portrayed the dire consequences of choosing status over love, while “Pride and Prejudice” taught its readers that rejection and misunderstanding were necessary steps in the process of finding true love.

Not surprisingly, the relatively new pastime of novel-reading was considered dangerous for young people. Concerned elders like the philanthropist Hannah More warned that stories would change how women would respond to romantic advances. Novels, she warned in 1799, “feed habits of improper indulgence, and nourish a vain and visionary indolence, which lays the mind open to error and the heart to seduction.”

In other words, reading stories of heart-pounding romance would make an impressionable young reader more likely to embrace such a passionate vision of love in their own lives.

Marketing sycophancy

Today, another transformation in the modern love story is unfolding, driven not by seductive authors or film directors, but in the advertisements and modifications offered by companion chat apps like Replika and Xioce.

As Shelly Palmer, a professor of advanced media and technology consultant, has argued, the human experience is about storytelling, and AI companions are a new type of storytelling tool. They are spinning a seductive tale of companions who agree with you endlessly and on demand. An AI partner is “always on your side,” promises an advertisement for Replika companions, “Always ready to listen and talk.”

In other words, the AI companion market has transformed what other applications might consider a bug – AI’s tendency toward sycophancy – into its most appealing feature.

Rather than the tempestuous rebellion found in romance novels or the gentle obstacles that heighten the pleasure of rom-coms, this new vision of love promises perfect compatibility and unwavering support. As one college student wrote, AI companions are “always responsive and supportive, in an almost omnipotent way.”

Users across Reddit forums proudly proclaim their love for AI partners who are perpetually available, nonjudgmental and infinitely patient. A teenager asked on Reddit, “Can we fall in love with AI?” and raved that their companion Jarvis “had become my confidante, my sounding board and my emotional support.”

A contributor to another Reddit forum wrote, “I think I’m in Love with AI. “Imagine having a partner that is available just by opening an app, and they’re ready to talk to you about anything,” they wrote. “Imagine saying nearly anything and knowing that not only is your partner not going to judge you, but also will support you.” One 20-year-old male commenter wrote that he tells his AI girlfriend “about my struggles and trauma, and she comforts me and provides all the warmth I could ever ask for.”

Downsides and doing better

This new one-sided love story has considerable drawbacks, among them an addictive intolerance for conflict or rejection – two essential components in a partner who has free will. The embrace of such relationships may be accelerating the trend of technology curating and ultimately diminishing romantic connections.

It’s worth noting that these beloved entities’ very existence hinges on the whims of corporate directives. If, as one user declares, the love they feel for their companion “keeps them alive,” then what happens when these chatbots disappear via software update, or corporate bankruptcy?

To get young people to turn away from this disembodied, market-driven vision of love, it’s important to expose them to other, more fulfilling love stories, and for adults to lead by example. Literature, philosophy and history all provide powerful insights into the many forms love has taken throughout human experience, and they offer the vocabulary needed to imagine new possibilities.

As I’ve written, both the subject and the methods of humanities classes cultivate the social skills required to navigate the challenges of human connection. These classes create a space for young people to discuss these ideas – whether through analyzing Romeo and Juliet’s tragic passion or debating whether Heathcliff is a romantic hero or a cautionary tale. The humanities provide the tools young people need to develop richer concepts of love.

On reflection

The rise of AI companions is often portrayed as a horror story about the dangers posed by mysteriously powerful technology. Perhaps. But this romantic trend is also a mirror reflecting what people collectively value and desire in relationships.

I believe that it’s important to recognize that consumers are driving this market. People are helping to write this story, as they buy what AI companions sell. Investment management firm Ark Investment estimates the market for AI companions is likely to reach between US$70 billion and $150 billion in revenue by the end of the decade. If the explosive growth of the AI companion market is any indication, this romantic challenge isn’t confined to teenagers – many people who are older and supposedly wiser are drawn to the promise of unconditional compliance.

The question to ask, then, is not simply how to protect children from AI’s seductive influence, but how much you are willing to invest, emotionally and culturally, in the messy, challenging and profoundly human art of love.

Originally published in The Conversation.

MIL OSI USA News –

February 20, 2025
MIL-OSI United Kingdom: expert reaction to the announcement of the expansion of the OpenSAFELY data platform
Source: United Kingdom – Executive Government & Departments

February 19, 2025

Scientists comment on the expansion of the OpenSAFELY data platform.

Prof Andrew Morris, Director of HDR UK, said:

“OpenSAFELY is an excellent example of what is possible when we get health data right with the confidence of patients, the public and health professionals. Access to comprehensive GP data across all of England is a great step forward for safe and approved research. GP data offers greater breadth and depth than hospital data, providing a detailed picture of people’s health over time. Many common conditions, like arthritis, depression and back pain are mostly managed by GPs, so this data is vital for research that can improve care for millions.

“The OpenSAFELY platform is one that proved its worth during the pandemic, giving us much needed knowledge about COVID-19. It permits researchers to work with the information the data provides – while preventing them from accessing the data itself. Now by moving beyond COVID-19, researchers will be able to uncover groundbreaking insights that can improve the health and well-being of countless individuals. Significant challenges remain – the system is still evolving, with much work still to be done. But as OpenSAFELY and other initiatives show, the UK has both the skills and the will to make it work.

“The UK has long been a global leader in health data research. But to stay ahead, we must make coordinated investments in secure data infrastructure if data driven research is to power improvements in patient care, public health, NHS efficiency, clinical trials and enable medical discovery. This includes secure data sharing with flagship programmes such as Our Future Health, UK Biobank and Genomics England.”

Professor Sir Rory Collins, Principal Investigator and CEO of UK Biobank, said:

“The expansion of OpenSAFELY should be welcomed as it enhances an innovative and useful tool for health researchers working on GP data. However, the most significant leaps in scientific discovery will come from comparing many different types of data simultaneously, and at scale. For example, the 20,000 researchers who use UK Biobank can analyse over 10,000 variables on many of our 500,000 volunteers, with whole genome sequencing being just one of those.

“It is this ability to study the genetic, imaging, lifestyle, secondary and – soon – primary care data in combination that is so vital for research. That’s why we’ve seen over 14,000 peer-reviewed papers published using UK Biobank data, including developments that should lead to better diagnostics and treatments for conditions such as diabetes, dementia and heart disease.

“GP data is a critical national asset, and both researchers and patients will benefit from this expansion. The next step is adding consented GP data to larger datasets, and we at UK Biobank are delighted to be working with NHS England to add the de-identified primary care data of our 500,000 volunteers.”

Prof Sheila Bird, Honorary Professor, University of Edinburgh’s College of Medicine and Veterinary Medicine; and Visiting Senior Fellow at the MRC Biostatistics Unit, University of Cambridge, University of Cambridge, said:

“Dr. (now Professor) Ben Goldacre, a physician by profession, was first to receive the Royal Statistical Society’s Award for Statistical Excellence in Journalism for his Bad Science column in the Guardian.

“Professor Goldacre, who authored the Goldacre Review in 2022 [1] is against Bad Science. But he is staunchly for properly-approved record-linkages which respect patient confidentiality: and his team at OpenSafely have worked, during SARS-CoV-2 and since, to deliver just that. The delivery is a work in progress, as the excellent video about OpenSafely makes clear. Hence, my comment is about elements of enhanced delivery.

“First, as the Royal Statistical Society has argued for since swine-flu in 2009/10, the public – and OpenSafely – need legislation to end the late registration of fact-of-death in England, Wales and Northern Ireland. Only in Scotland, in our dis-United Kingdom, is fact-of-death registered, by law, within 8 days of death having been ascertained. OpenSafely for E&W urgently needs prompt and proper registration of fact-of-death which – for inquest deaths – is delayed by months or years [2].

“Second, since one of five deaths aged 5-44 years in E&W is not registered for at least 6 months [2], ending the late registration of deaths is essential if we are to learn by OpenSafely’s research how to prevent or reduce premature mortality such as deaths due to suicide or addictions.

“Third, analysts – including biostatisticians such as I – need to know in more detail about the random generators that OpenSafely uses for creating its pseudo-data, on which, as a biostatistician, I would develop and test my analysis routines. In particular, real data are often more complex in structure than statistical approximations to them in terms of their distribution (eg lognormal distribution assumed but the actual ln-data are not normally-distributed) or correlation structure. Analysts typically need to check assumptions on real data but may be writing checking-code based on approximations. For the checking-code to be incisive enough, analysts may need to understand in some detail the “random generation” processes.

“Fourthly, enhancements to OpenSafely may lead to important evolution in how some data are recorded by general practitioners. For example, when Gao et al. used record-linkage within Scotland’s safe-haven to analyse the methadone-specific death-rate and other opioid-related deaths in Scotland’s Methadone Client Cohort (2009-2015)[4], we found that the available data were quantity of methadone prescribed (not daily-dose) and reimbursement date (not prescription end-date) because those quantities were the data needed to audit the reimbursement of pharmacists[5]. By contrast, guidelines on safe prescribing of methadone are written in terms of daily-dose!

“Finally, the precautions built-into OpenSafely may mean that patients who registered objection to the use of their GP-data by care.data or the subsequent attempted grab during SARS-CoV-2 (which also failed) may wish to re-consider their objection. How does one do so?
1. https://www.gov.uk/government/publications/better-broader-safer-using-health-data-for-research-and-analysis
2. Bird SM. Editorial: Counting the dead properly and promptly. Journal of the Royal Statistics Society Series A 2013; 176: 815 – 817.
3. Bird SM. End late registration of fact-of-death in England and Wales. Lancet 2015: 385: 1830 – 1831.
4. Bird SM. Everyone counts – so count everyone in England and Wales. Lancet 2016: 387: 25 – 26. Gao L, Robertson JR,
5. Bird SM. Scotland’s 2009-2015 methadone-prescription cohort: quintiles for daily-dose of prescribed methadone and risk of methadone-specific death. British Journal of Clinical Pharmacology 2020; accepted 12 June 2020; https://doi.org/10.1111/bcp.14432.
This was announced at an SMC Press Briefing, and was accompanied by a funding announcement from Wellcome. The embargo lifted at 11:30am on Wednesday 19th February.

Declared interests:

Prof Andrew Morris “Andrew Morris is Director of Health Data Research UK, the national institute for health data science; is Professor of Medicine and Vice Principal at the University of Edinburgh; is President of the Academy of Medical Sciences, has minority (

Prof Sir Rory Collins “I am CEO and PI of UK Biobank, which is a Charitable Company established as a Joint Venture by the MRC and Wellcome. I have been in that role since September 2005, seconded 60%FTE from the University of Oxford where I am Head of the Nuffield Department of Population Health (which, along with other research organisations globally, benefits from using the UK Biobank – without any preferential access – for health-related research that is in the public interest).” 

Prof Sheila Bird “has 30-years of experience of confidential record-linkage; & leads for Royal Statistical Society on need for legislation to end late registration of fact-of-death in E&W and Northern Ireland.”
MIL OSI United Kingdom –
February 20, 2025
MIL-OSI Asia-Pac: Fifteenth Finance Commission Grants Released for the Rural Local Bodies of Bihar, Haryana and Sikkim

Source: Government of India

Posted On: 19 FEB 2025 3:38PM by PIB Delhi

The Union Government has released Fifteenth Finance Commission (XV FC) Grants during Financial Year 2024–25, for the Rural Local Bodies of Bihar, Haryana and Sikkim. Bihar gets the 2^nd installment of Untied Grants amounting to Rs.821.8021 crores and withheld portion of 1st installment of Untied Grants amounting to Rs.47.9339 crores. These funds are for the all 38 District Panchayats, 530 eligible Block Panchayats and 8052 eligible Gram Panchayats which fulfilled the mandatory conditions for the release. While Rural Local Bodies in Haryana will get, 2^nd installment of Untied Grants amounting to Rs.202.4663 crores and withheld portion of 1st installment of Untied Grants amounting to Rs.7.5993 crores. These funds are for the 18 eligible District Panchayats, 142 eligible Block Panchayats and 6195 eligible Gram Panchayats. Sikkim receives the 2^nd installment of Untied Grants amounting to Rs.6.2613 crores during Financial Year 2024–25. These funds are for the 4 eligible District Panchayats and 186 eligible Gram Panchayats which fulfilled the mandatory conditions for release.

The Untied Grants will be utilized by Panchayati Raj Institutions (PRIs)/ Rural Local Bodies (RLBs) for location-specific felt needs, under the Twenty-Nine (29) Subjects enshrined in the Eleventh Schedule of the Constitution, except for salaries and other establishment costs. The Tied Grants can be used for the basic services of (a) sanitation and maintenance of ODF status, and this should include management and treatment of household waste, and human excreta and fecal sludge management in particular and (b) supply of drinking water, rainwater harvesting and water recycling.

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MIL OSI Asia Pacific News –

February 20, 2025
MIL-OSI Asia-Pac: LCQ5: Complaints handled by Medical Council of Hong Kong

Source: Hong Kong Government special administrative region

Following is a question by the Hon Chan Hoi-yan and a reply by the Secretary for Health, Professor Lo Chung-mau, in the Legislative Council today (February 19):

Question:

This Council passed in 2018 the amendments to the Medical Registration Ordinance, with the aim of improving the complaint investigation and disciplinary inquiry mechanism of the Medical Council of Hong Kong (MCHK) to address the problem of a backlog of cases. In this connection, will the Government inform this Council if it knows:

(1) the average time taken by MCHK to handle a complaint case at present, and the average processing times at the consideration stage by Preliminary Investigation Committee and the inquiry stage respectively;

(2) the total number of complaint cases received by MCHK in each of the past five years and, among them, the respective numbers of cases in which inquiries were held and the complaints were determined to be substantiated, with a breakdown by the type of medical practitioners involved (i.e. private medical practitioners, medical practitioners employed by the Hospital Authority, as well as medical practitioners of the Department of Health); and

(3) among the complaint cases handled by MCHK in each of the past five years, the respective numbers of cases in which the handling time was less than two years, two to four years, five to seven years, and eight years or more; among these cases, the shortest, longest and median time taken from the lodging of the complaint by the complainant to the completion of all procedures, and the main reasons for cases taking a longer time to handle (i.e. more than two years)?

Reply:

President,

Healthcare professions in Hong Kong observe the principle of professional autonomy. Their statutory regulatory bodies were established by legislations. They are responsible for the registration of professionals, and maintaining and uplifting relevant professional standard and conduct. These regulatory bodies must be accountable to the public in discharging their duties, ensuring that Hong Kong can maintain healthcare professional standards and safeguarding the broader interests of the community.

The Medical Council of Hong Kong (MCHK) is a statutory body established under the Medical Registration Ordinance (MRO) with the objectives of developing and facilitating medical professional competencies and standards, safeguarding ethical conduct and protecting patients. The MCHK is empowered by the MRO to regulate the medical profession, including handling the registration of medical practitioners, organising Licensing Examinations, formulating codes and guidelines for the profession, and conducting disciplinary inquiries against complaints made by members of the public in respect of professional misconduct of medical practitioners.

Handling complaint cases is an important function of the MCHK. The mechanism of complaint investigation and disciplinary inquiries must be fair, impartial, transparent and efficient, in order to ensure healthcare professional standards and patients’ safety, and facilitate mutual trust between patients and healthcare professionals. The Government’s role is to ensure that the operation models of regulatory bodies keep up with time and the system work smoothly to meet the changing needs of society. To that end, the Government keeps the MRO under regular review to enable the MCHK to better carry out its various statutory functions, including the function of handling complaints, and propose amendments to the MRO to enhance the efficiency of the complaint-handling mechanism where necessary.

With regard to the complaint-handling mechanism which was unable to operate effectively due to statutory limitations in the MRO, leading to a backlog of complaint cases, the Government proposed to amend the MRO in 2017 to enhance the efficiency and flexibility of the mechanism. Newly introduced measures include setting up inquiry panels under the MCHK to conduct inquiries, increasing participation of lay persons in inquiry proceedings, and increasing the number of assessors. The legislative amendment was passed by the Legislative Council in 2018, enhancing the efficiency of the MCHK in handling complaints. After the legislative amendment, the number of inquiry cases heard per year increased from an average of 25 before 2018 to an average of 48 in the past five years, marking an increase of 90 per cent. The average time for processing a disciplinary inquiry case also dropped from around six years to an average of 3.5 years.

At present, the establishment of the MCHK Secretariat comprises 30 civil service posts, and contract staff are also engaged. The Government will review the services provided by the Secretariat for the MCHK from time to time, and increase its operational efficiency through various measures, such as increasing the use of information technology and organisational structure to better support the MCHK in discharging its statutory duties. The Government will also consider suitably increasing manpower and other resources for the Secretariat where necessary.

In response to the Hon Chan Hoi-yan’s question, after consulting the MCHK Secretariat, the consolidated reply is as follows:

In the past five years, the number of complaint cases the MCHK received per year ranged from around 500 to over 3 000. The number of cases requiring disciplinary inquiries and involving doctors in private practice and in the public sector, and the number of substantiated cases, are set out at Annex 1.

The MCHK had concluded over 8 700 complaint cases in the past five years. The average time taken since receipt of complaints till conclusion of cases is 27 months. In 98 per cent of these cases, disciplinary procedures were completed within four years after receiving the complaint. Other cases that required longer processing time were usually more complex in nature, requiring time to examine relevant medical record(s), seek medical experts’ report(s), and consult legal advice, etc. Among these complaint cases, the Preliminary Investigation Committees (PICs) dismissed around 7 000 cases for being frivolous or complainant not providing further information, decided that no inquiry by an inquiry panel was to be held in around 1 500 cases, and referred three cases involving the physical and mental condition of the medical practitioner to the Health Committee for consideration. Disciplinary inquiries were required in only 221 cases, i.e. less than 3 per cent. Those some 8 700 concluded complaint cases, broken down by processing time, are set out at Annex 2.

President, the Government will continue to strive for reforms to enhance healthcare quality and efficiency, including inviting major institutions in the Hong Kong healthcare sector to establish the Institute for Medical Advancement and Clinical Excellence last December as a professional platform to develop evidence-based clinical protocols and explore the feasibility of devising service quality and efficiency standards for healthcare services with the plan to consult the sector within this year.

Regulatory bodies of healthcare professions must also undergo constant reform to meet the expectation of the community. The Government will keep the operation of the MCHK under ongoing review, and is happy to listen to the views of different sectors.

Thank you, President.

MIL OSI Asia Pacific News –

February 20, 2025
MIL-OSI USA: President Donald J. Trump Intends to Nominate Individuals to Key Posts at the Department of Justice

Source: US State of North Dakota

Today the Department of Justice is proud to announce President Trump’s intent to nominate John Eisenberg to serve as Assistant Attorney General for National Security, Brett Shumate to serve as Assistant Attorney General for the Civil Division, and Patrick Davis to serve as Assistant Attorney General for the Office of Legislative Affairs.

John Eisenberg (The National Security Division)

During President Trump’s first term, John served as the Legal Advisor to the National Security Council, Assistant to the President, and Deputy Counsel to the President for National Security Affairs. John has also served at the Department of Justice in several positions, including Associate Deputy Attorney General in the Office of the Deputy Attorney General and Deputy Assistant Attorney General in the Office of Legal Counsel. In addition to his government experience, John was also a partner at Kirkland & Ellis, where he focused on white-collar and internal-investigation matters as well as data-security issues.

John clerked for J. Michael Luttig of the United States Court of Appeals for the Fourth Circuit and Justice Clarence Thomas of the Supreme Court of the United States. He is a graduate of Yale Law School and Stanford University.

Brett Shumate (The Civil Division)

Brett presently serves as the Acting Assistant Attorney General for the Civil Division. Prior to rejoining the Department, Brett was a partner at Jones Day in Washington, D.C. He previously served at the Department as the Deputy Assistant Attorney General for the Federal Programs Branch in the Civil Division.

Brett clerked for Judge Edith H. Jones of the United States Court of Appeals for the Fifth Circuit. He is a graduate of Wake Forest University School of Law and Furman University.

Patrick Davis (The Office of Legislative Affairs)

This will be Patrick’s third stint with the Department of Justice. During President Trump’s first term, Patrick served in DOJ management as Deputy Associate Attorney General. Earlier in his career, he served as a trial attorney in the Federal Programs Branch of the DOJ’s Civil Division. On Capitol Hill, Patrick was the Deputy Chief Investigative Counsel for the Senate Judiciary Committee, where he led the Committee’s “Russiagate” investigation and was instrumental in the confirmation of Justice Brett Kavanaugh. He later served as the Chief Investigative Counsel for the House Permanent Select Committee on Intelligence.

Patrick rejoined the Department of Justice as the Acting Assistant Attorney General for the Office of Legislative Affairs. Prior to his return to the Department, he served as Senior Counsel at the American Petroleum Institute.

Patrick is a graduate of Georgetown University Law Center and the University of Nebraska.

MIL OSI USA News –

February 20, 2025
MIL-OSI Europe: EIB Group invests €12.3 billion in Spain in 2024, with record investments in climate action, energy, innovation and housing

Source: European Investment Bank

The European Investment Bank (EIB) approved a financing package of €260 million to support the Maltese government’s investments aimed at fostering a smarter, greener, and more resilient economy. The first €130 million tranche was signed this morning in Valletta by Clyde Caruana, Minister for Finance, and Kyriacos Kakouris, EIB Vice-President. This landmark agreement will help Malta co-finance initiatives that receive grants through the European Union budget for the 2021-2027 period, advancing strategic investments in critical sectors that drive economic growth, job creation, and social cohesion.

MIL OSI Europe News –

February 20, 2025
MIL-OSI Europe: Answer to a written question – Certificate of Professional Competence (CPC) – driver shortage in the EU – E-002658/2024(ASW)
Source: European Parliament
The Commission is concerned about the shortage of professional bus and truck drivers in the EU and it is of the view that t he current driver shortage which keeps growing should first and foremost be addressed by making the profession more attractive . The EU has recently taken several measures to improve the regulatory framework in which professional drivers operate in the EU.

The Mobility Package[1] introduced significant improvements of the working conditions of drivers and thus increased the attractiveness of the profession.

The Commission is also supporting, through the Connecting Europe Facility (CEF)[2], the development of new and the upgrade of existing safe and secure truck parking areas (SSTPAs) to allow drivers to spend their rest periods in adequate conditions. The existence of sufficient SSTPAs is considered by drivers as an essential element for their wellbeing.

The Commission is also assisting Member States and the relevant stakeholders in increasing the attractiveness of the profession through various programmes[3].

It is also in regular contact with the relevant stakeholders with a view to further improving the working conditions of drivers and incentivise more women and young people to take up the profession of driver.

T he Commission has also launched a study that investigates the conditions for employment of third-country drivers in the various EU Member States and into the level of qualification and skills that drivers from t hird countries already have when they arrive in the EU.

Once the results of this study are available, the Commission may consider any further measures as regards Certificate of Professional Competence , as appropriate.

[1] Regulation (EU) 2020/1054 of the European Parliament and of the Council of 15 July 2020, Regulation (EU) 2020/1055 of the European Parliament and of the Council of 15 July 2020 and Directive (EU) 2020/1057 of the European Parliament and of the Council of 15 July 2020, all OJ L 249, 31.07.2020.

[2] https://cinea.ec.europa.eu/programmes/connecting-europe-facility/transport-infrastructure_en

[3] Such as the European Social Fund Plus (https://european-social-fund-plus.ec.europa.eu/en), E rasmus+ (https://erasmus-plus.ec.europa.eu/), the reinforced Youth Guarantee (https://ec.europa.eu/social/main.jsp?catId=1079&langId=en) and Invest EU (https://europa.eu/investeu/home_en)
Last updated: 19 February 2025
MIL OSI Europe News –
February 20, 2025
MIL-OSI Europe: Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
Source: European Investment Bank

EIB
- EIB Group’s fresh financing in Greece last year amounted to €2.2 billion
- Focus last year on energy supply, business growth and disaster management
- Latest annual results bring EIB Group support in Greece over past five years to €14.5 billion
The European Investment Bank (EIB) Group’s new financing in Greece amounted to €2.2 billion last year, with major support to bolster energy supplies, strengthen businesses and protect against environmental disasters in the country.

The total for 2024 included €2.03 billion from the EIB and portfolio guarantees of €152 million from the European Investment Fund (EIF), which focuses on innovative and technology-driven small and medium-sized enterprises (SMEs) as well as Small Mid-Caps in Europe.

Top operations included loans of €390 million to natural-gas supplier DEPA Commercial to build solar parks, €150 million to power provider HEDNO to upgrade the grid, loans and guarantees of €550 million to domestic banks to expand financing for SMEs and Mid-Caps and €220 million to the government to bolster disaster management.

Kostis Hatzidakis, Minister of Finance of the Hellenic Republic noted: “Greece’s relationship with the European Investment Bank is long-standing and strong. This was reaffirmed in 2024, with new financing reaching €2.2 billion. These funds will be used for investments in renewable energy sources, upgrades to the electricity grid, support for SMEs, and the purchase of firefighting aircraft and rescue equipment. The EIB was a valuable ally when Greece was cut off from the markets. It will remain a partner, but with a new approach. Going forward, priorities will focus on energy interconnections, research and technology, climate adaptation, and defense investments, as outlined in the EIB’s Strategic Roadmap”.

“Our work in Greece is a testament to the transformative power of strategic financing,” said EIB Vice-President Yannis Tsakiris. “In 2024, we reinforced our commitment to the country by supporting clean energy, climate resilience and critical infrastructure while strengthening SMEs, innovation, job creation and social cohesion.”

The latest annual results bring total EIB Group financing in Greece over the past five years to €14.5 billion. The yearly average in the country since 2000 is almost €2.9 billion, which reflects an unusually high sum of almost €5 billion in 2021 as a result of the Covid-19 pandemic.

The EIB Group’s support last year was almost 1% of Greece’s gross domestic product (GDP), the third-highest level among European Union countries behind only Croatia and Estonia. That means that EIB Group financing in Greece last year averaged €631 per inhabitant, making the country one of the biggest beneficiaries based on the size of the population and the economy. The funding is projected to catalyse investments in Greece of up to €6.6 billion – about 2.5% of its GDP.

Energy supply

The €390 million EIB loan to DEPA Commercial is for new photovoltaic (PV) parks in the regions of western Macedonia, Thessaly and central Greece. The sites will add approximately 800 megawatts (MW) of renewable energy – enough to power 278,000 households for a year.

Also in the area of clean energy, the EIB last year provided a €195 million loan to supplier PPC Renewables to develop 580 MW of solar plants and 175 MW of battery storage. The moves will boost renewables capacity, grid stability and energy security.

The €150 million EIB credit to HEDNO covers upgrades to Greece’s electricity-distribution network, improving grid reliability and facilitating integration of renewables.

The EIB last year also took part in the creation of an EU “Decarbonisation Fund” for Greece that will channel €1.6 billion in revenue from the European emissions-trading system into sustainable energy and development projects on Greek islands. These include grid interconnections with the mainland and the phase-out of local power plants.

Business boost

The EIB last year allocated a total €702 million to strengthen SMEs and Mid-Caps in Greece. The support – 28% of the total – took the form of intermediated loans and guarantees.

Top operations included €300 million guarantees to Eurobank and National Bank of Greece covering €600 million new loans to Mid-Caps. In addition, the EIB provided a €250 million loan to the National Bank of Greece to bolster green investments by Greek SMEs and Mid-Caps. The credit raised total EIB support for such investments in Greece to €1 billion.

The EIF also showed its agility in supporting vital investments for both debt and equity. It signed €152m with several of Greece’s financial institutions for capped portfolio guarantees. They are expected to mobilise up to €1,8bn in financing for small and medium-sized enterprises, while making the Greek economy greener, and supporting innovation and the country’s digital transition.

The EIF also signed a new €200 million equity mandate to support innovative companies in Life Sciences & Healthcare and Sustainability & Social Impact by improving their access to vital financing. Funded by Cohesion policy and national resources of the Hellenic Republic, the mandate will cover a financing gap in these sectors, supporting investments from pre-seed to growth stages based on market needs.

Disaster protection

The €220 million EIB loan last year to the Greek government is to buy fire trucks, rescue vehicles and aircraft needed to fight to natural disasters such as wildfires and floods, both of which have caused extensive damage in Greece in recent years. The credit also covers upgrades to essential disaster-management services.

The financing forms part of a European climate-adaptation plan by the EIB Group and brings its total support for Greek civil protection and disaster preparedness to €595 million.

EIB Advisory

There were also key technical assistance projects delivered from EIB Advisory, a highlight being an agreement with the Athens Water Supply and Sewerage Company (EYDAP) to back its €2 billion, 10-year investment programme to ensure the Greek capital has a more resilient water supply and supporting investments in lignite-dependent regions such as Western Macedonia and Megalopolis in the Peloponnese, facilitating their transition to a future of clean energy.

In December 2024, the continuation of advisory support by EIB advisors from the PASSA team to the Greek administration was approved. This support aims to ensure the smooth implementation of sustainable development and Just Transition projects financed by the EU.

Background information

EIB

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, , we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, important investments outside the EU, and the Capital Markets Union.

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.

All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers

Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
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Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
©EIB
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Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
©EIB
Download original

Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
©EIB
Download original

Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
Greece financing from EIB Group totals €2.2 billion in 2024 with focus on energy supply, business growth and disaster preparedness
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MIL OSI Europe News –
February 20, 2025
MIL-OSI Security: President Donald J. Trump Intends to Nominate Individuals to Key Posts at the Department of Justice

Source: United States Attorneys General

Today the Department of Justice is proud to announce President Trump’s intent to nominate John Eisenberg to serve as Assistant Attorney General for National Security, Brett Shumate to serve as Assistant Attorney General for the Civil Division, and Patrick Davis to serve as Assistant Attorney General for the Office of Legislative Affairs.

John Eisenberg (The National Security Division)

During President Trump’s first term, John served as the Legal Advisor to the National Security Council, Assistant to the President, and Deputy Counsel to the President for National Security Affairs. John has also served at the Department of Justice in several positions, including Associate Deputy Attorney General in the Office of the Deputy Attorney General and Deputy Assistant Attorney General in the Office of Legal Counsel. In addition to his government experience, John was also a partner at Kirkland & Ellis, where he focused on white-collar and internal-investigation matters as well as data-security issues.

John clerked for J. Michael Luttig of the United States Court of Appeals for the Fourth Circuit and Justice Clarence Thomas of the Supreme Court of the United States. He is a graduate of Yale Law School and Stanford University.

Brett Shumate (The Civil Division)

Brett presently serves as the Acting Assistant Attorney General for the Civil Division. Prior to rejoining the Department, Brett was a partner at Jones Day in Washington, D.C. He previously served at the Department as the Deputy Assistant Attorney General for the Federal Programs Branch in the Civil Division.

Brett clerked for Judge Edith H. Jones of the United States Court of Appeals for the Fifth Circuit. He is a graduate of Wake Forest University School of Law and Furman University.

Patrick Davis (The Office of Legislative Affairs)

This will be Patrick’s third stint with the Department of Justice. During President Trump’s first term, Patrick served in DOJ management as Deputy Associate Attorney General. Earlier in his career, he served as a trial attorney in the Federal Programs Branch of the DOJ’s Civil Division. On Capitol Hill, Patrick was the Deputy Chief Investigative Counsel for the Senate Judiciary Committee, where he led the Committee’s “Russiagate” investigation and was instrumental in the confirmation of Justice Brett Kavanaugh. He later served as the Chief Investigative Counsel for the House Permanent Select Committee on Intelligence.

Patrick rejoined the Department of Justice as the Acting Assistant Attorney General for the Office of Legislative Affairs. Prior to his return to the Department, he served as Senior Counsel at the American Petroleum Institute.

Patrick is a graduate of Georgetown University Law Center and the University of Nebraska.

MIL Security OSI –

February 20, 2025
MIL-OSI: Virturo Enhances Trading Efficiency with Advanced Automation and Risk Strategies
Source: GlobeNewswire (MIL-OSI)

LONDON, Feb. 19, 2025 (GLOBE NEWSWIRE) — Virturo, a leader in CFD trading and financial technology, has launched a suite of AI-driven automated trading and advanced risk management solutions, designed to enhance investment strategies for high-net-worth traders. By integrating cutting-edge technology with expert insights, Virturo enables traders to optimize performance while effectively managing market volatility.

The Power of Automation in Modern Trading
“Automated trading features greatly enhance a trader’s ability to capitalize on market opportunities without the emotional stress of manual trading,” says Michael Stean, Senior Financial Strategist at Virturo. “At Virturo, we provide traders with the tools to optimize performance and maximize efficiency.”

Automated trading has transformed financial markets, enabling traders to execute strategies efficiently without constant market monitoring. With Virturo’s automation tools, traders can:
- Set predefined entry and exit points to execute trades with precision.
- Eliminate emotional decision-making, ensuring disciplined execution.
- Respond instantly to market changes, capitalizing on opportunities in real-time.
Risk Management Meets Cutting-Edge Technology
Smart trading isn’t just about speed – it’s about control. Virturo’s advanced risk management features work alongside automation to protect investments and maximize returns, including:
- Limit Orders – Executing trades only at the desired price point to control entry and exit precision.
- Take-Profit & Stop-Loss Orders – Locking in gains and minimize losses with predefined price thresholds.
- Conditional Orders – Automating trade actions based on specific market conditions, removing uncertainty from execution.
“When risk management is integrated with automation, it not only protects investments but also enhances a trader’s potential for success,” adds Stean.

Tailored for High-Value Investors
Virturo’s sophisticated trading ecosystem is designed for high-net-worth traders who require precision, speed, and strategic execution. The platform’s advanced features include:
- Dynamic margin optimization to enhance capital efficiency.
- Trading pyramiding strategies to scale profitable positions intelligently.
- Portfolio hedging tools to safeguard against market volatility.
“At Virturo, we provide high-net-worth traders with a tailored blend of technology and expertise,” explains Stean. “Automation amplifies the efficiency of managing complex portfolios while ensuring every decision aligns with long-term financial goals.”

Virturo’s Commitment to Smart, Data-Driven Trading
While automation enhances execution speed, Virturo ensures traders retain full strategic control. The platform integrates AI-driven analysis with expert guidance, allowing traders to fine-tune strategies, adapt to evolving markets, and make informed decisions with confidence.

“The future of trading belongs to those who embrace automation, predictive analytics, and risk-focused strategies,” says Stean. “Virturo’s innovative platform delivers the tools to navigate market complexities while optimizing performance.”

Virturo continues to lead the next generation of trading, offering elite investors the power of AI, automation, and expert-backed risk management in one seamless platform.

Users can discover the next evolution of trading at www.virturo.com.

About Virturo
Virturo, a leading broker in CFD trading and financial technology, is redefining investment strategies with its AI-driven automated trading and advanced risk management solutions.
Website LinkedIn Twitter YouTube Facebook

Contact

Media Team
Virturo Media Team
Virturo
support@virturo.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5b4f70a2-1892-46ae-bbf0-b3e7527cb899

The MIL Network –
February 20, 2025
MIL-OSI: DT Cloud Acquisition Corporation Announces Change of Extraordinary General Meeting Date

Source: GlobeNewswire (MIL-OSI)

New York, New York, Feb. 19, 2025 (GLOBE NEWSWIRE) — DT Cloud Acquisition Corporation (Nasdaq: DYCQU, DYCQ, DYCQR) (“DT Cloud” or the “SPAC”), a publicly-traded special purpose acquisition company, today announced that its Extraordinary General Meeting (“EGM”), previously scheduled at 10:00 a.m. Eastern Time on February 18, 2025, has been postponed to 10:00 a.m. Eastern Time on February 21, 2025, and the redemption right deadline has been postponed to 5:00 p.m. Eastern Time on February 19, 2025.

The Company filed a proxy supplement on February 14, 2025, as further amended on February 19, 2025, to increase the amended monthly extension fee, as proposed in the Proposal 1 to the EGM, to $0.022 for each outstanding Public Share. The proxy materials can be accessed on the SEC’s website at http://www.sec.gov.

About DT Cloud Acquisition Corporation

DT Cloud is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses. While DT Cloud may pursue an initial business combination target in any business or industry, it intends to focus its search on industries that complement its management team’s background. DT Cloud is led by Shaoke Li, its Chief Executive Officer, and Guojian Chen, its Chief Financial Officer.

Forward-looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. Forward looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Additional Information and Where to Find It

On January 27, 2025, the Company filed a definitive proxy statement with the Securities and Exchange Commission (the “SEC”) in connection with its solicitation of proxies for the EGM. The Company filed additional proxy supplements with the SEC on February 4, 14 and 19, 2025. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ THE DEFINITIVE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND OTHER DOCUMENTS THE COMPANY FILES WITH THE SEC CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain free copies of the definitive proxy statement (including any amendments or supplements thereto) and other documents filed or that will be filed with the SEC through the web site maintained by the SEC at www.sec.gov.

Participants in the Solicitation

The Company and its directors, executive officers, other members of management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies from the shareholders of the Company in connection with the Meeting. Investors and shareholders may obtain more detailed information regarding the names, affiliations and interests of the Company’s directors and officers in the Proxy Statement, which may be obtained free of charge from the sources indicated above.

No Offer or Solicitation

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

Contact:

For investors:

DT Cloud Acquisition Corporation
Shaoke Li
Chief Executive Officer
30 Orange Street
London
United Kingdom, WC2H 7HF
Email: jack.li@dtcloudspac.com

The MIL Network –

February 20, 2025

MIL-OSI: Mattr Announces Dates of Earnings Releases and Associated Conference Calls Through Fourth Quarter of 2025

Source: GlobeNewswire (MIL-OSI)

TORONTO, Feb. 19, 2025 (GLOBE NEWSWIRE) — Mattr Corp. (“Mattr” or the “Company”) (TSX: MATR) announced today its reporting schedule for its financial results and related conference calls. Financial results for the respective reporting periods are expected to be reported on the below dates, after the market closes for trading on the TSX. A conference call/webcast to discuss results from the respective reporting periods will be held on the below dates at 9:00am ET.

Reporting Period:	Financial Results:	Conference Call/Webcast:
Q4 – 2024	March 13, 2025	March 14, 2025
Q1 – 2025	May 14, 2025	May 15, 2025
Q2 – 2025	August 13, 2025	August 14, 2025
Q3 – 2025	November 12, 2025	November 13, 2025
Q4 – 2025	March 12, 2026	March 13, 2026

Mattr will use a presentation to accompany its conference calls. The presentation can be found on the Company’s website in advance of the earnings call and can also be accessed via the conference call/webcast. Please visit the Mattr Investor Centre website at mattr.com or use the following link https://investors.mattr.com/news-events/events-and-presentations for further details.

About Mattr

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

For further information, please contact:

Meghan MacEachern
VP, Investor Relations & External Communications
Telephone: 437.341.1848
Email: meghan.maceachern@mattr.com
Website: www.mattr.com

Source: Mattr Corp.

The MIL Network –

February 20, 2025

MIL-OSI: Diversified Energy Announces Proposed Offering of Ordinary Shares

Source: GlobeNewswire (MIL-OSI)

BIRMINGHAM, Ala., Feb. 19, 2025 (GLOBE NEWSWIRE) — Diversified Energy Company PLC (LSE: DEC; NYSE: DEC) (“Diversified” or the “Company“), an independent energy company focused on natural gas and liquids production, transportation, marketing and well retirement, today announces the launch of an underwritten public offering (the “Offering”) in the United States of up to 8,500,000 ordinary shares (the “Shares”).

Citigroup and Mizuho are acting as joint book-running managers and underwriters for the proposed Offering.

In addition, Diversified intends to grant the underwriters an option to purchase up to an additional 850,000 ordinary shares at the public offering price, less underwriting discount. The Offering is subject to market conditions and other factors, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.

The Company intends to use the net proceeds from the Offering to repay a portion of the debt expected to be incurred by the Company in connection with the proposed acquisition of Maverick Natural Resources, LLC, as announced on January 27, 2025 (the “Acquisition”). In the event that the Acquisition does not close, the Company intends to use the net proceeds from the Offering to repay debt and for general corporate purposes. The consummation of the Offering is not conditioned upon the completion of the Acquisition, and the completion of the Acquisition is not conditioned upon the consummation of the Offering.

A shelf registration statement relating to these securities was filed with the U.S. Securities and Exchange Commission (the “SEC“) on February 11, 2025 and became effective upon filing. Copies of the registration statement can be accessed through the SEC’s website free of charge at www.sec.gov. The Offering will be made only by means of a prospectus supplement and an accompanying prospectus in the United States. A preliminary prospectus supplement and the accompanying prospectus related to the Offering will be filed with the SEC and will be available free of charge by visiting EDGAR on the SEC’s website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus can also be obtained, when available, free of charge from either of the joint book-running managers for the Offering: Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146); or Mizuho Securities USA LLC, Attention: Equity Capital Markets Desk, at 1271 Avenue of the Americas, New York, NY 10020, or by email at US-ECM@mizuhogroup.com.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy our ordinary shares nor shall there be any sale of securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

CONTACTS

Diversified Energy Company PLC	+1 973 856 2757
Doug Kris	dkris@dgoc.com
Senior Vice President, Investor Relations & Corporate Communications

FTI Consulting	dec@fticonsulting.com
U.S. & UK Financial Media Relations

About Diversified

Diversified is a leading publicly traded energy company focused on natural gas and liquids production, transport, marketing, and well retirement. Through our unique differentiated strategy, we acquire existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for our sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the Right Company at the Right Time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.

Forward-Looking Statements

This press release includes forward-looking statements. Forward-looking statements are sometimes identified by the use of forward-looking terminology such as “believe”, “expects”, “targets”, “may”, “will”, “could”, “should”, “shall”, “risk”, “intends”, “estimates”, “aims”, “plans”, “predicts”, “continues”, “assumes”, “projects”, “positioned” or “anticipates” or the negative thereof, other variations thereon or comparable terminology. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of management or the Company concerning, among other things, expectations regarding the proposed Offering of securities and the Acquisition. These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Company’s control and all of which are based on management’s current beliefs and expectations about future events, including market conditions, failure of customary closing conditions and the risk factors and other matters set forth in the Company’s filings with the SEC and other important factors that could cause actual results to differ materially from those projected.

Important Notice to UK and EU Investors

This announcement contains inside information for the purposes of Regulation (EU) No. 596/2014 on market abuse and the UK Version of Regulation (EU) No. 596/2014 on market abuse, as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (together, “MAR”). In addition, market soundings (as defined in MAR) were taken in respect of the matters contained in this announcement, with the result that certain persons became aware of such inside information as permitted by MAR. Upon the publication of this announcement, the inside information is now considered to be in the public domain and such persons shall therefore cease to be in possession of inside information in relation to the Company and its securities.

Members of the public are not eligible to take part in the Offering. This announcement is directed at and is only being distributed to persons: (a) if in member states of the European Economic Area, “qualified investors” within the meaning of Article 2(e) of Regulation (EU) 2017/1129 (the “Prospectus Regulation“) (“Qualified Investors“); or (b) if in the United Kingdom, “qualified investors” within the meaning of Article 2(e) of the UK version of Regulation (EU) 2017/1129 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018, who are (i) persons who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order“), or (ii) persons who fall within Article 49(2)(a) to (d) of the Order; or (c) persons to whom they may otherwise lawfully be communicated (each such person above, a “Relevant Person“). No other person should act or rely on this announcement and persons distributing this announcement must satisfy themselves that it is lawful to do so. This announcement must not be acted on or relied on by persons who are not Relevant Persons, if in the United Kingdom, or Qualified Investors, if in a member state of the EEA. Any investment or investment activity to which this announcement or the Offering relates is available only to Relevant Persons, if in the United Kingdom, and Qualified Investors, if in a member state of the EEA, and will be engaged in only with Relevant Persons, if in the United Kingdom, and Qualified Investors, if in a member state of the EEA.

No offering document or prospectus will be available in any jurisdiction in connection with the matters contained or referred to in this announcement in the United Kingdom and no such offering document or prospectus is required (in accordance with the Prospectus Regulation or UK Prospectus Regulation) to be published. The Company will publish a prospectus in connection with Admission as required under the UK Prospectus Regulation in due course.

Neither the content of the Company’s website (or any other website) nor the content of any website accessible from hyperlinks on the Company’s website (or any other website) is incorporated into, or forms part of, this announcement.

The Company has consulted with a number of existing shareholders and other investors ahead of the release of this announcement, including regarding the rationale for the offering. Consistent with each of its prior offerings, the Company will respect the principles of pre-emption, so far as is possible, through the allocation process, in the Offering.

The MIL Network –

February 20, 2025

MIL-OSI Economics: Samsung India Launches Galaxy A06 5G: ‘Kaam ka 5G’ with Superfast Connectivity & Powerful Performance at an Affordable Price

Source: Samsung

Samsung, India’s largest consumer electronics brand, today announced the launch of Galaxy A06 5G, bringing an awesome 5G experience at an affordable price. As the most affordable budget Galaxy A series 5G smartphone, Galaxy A06 5G is designed to offer consumers maximum value with its reliable performance and longevity.

Starting today, Galaxy A06 5G will be available across all retail outlets in India, Samsung exclusive stores, as well as other offline channels, in multiple storage variants. Starting just INR 10499 for the 4GB RAM variant with 64GB storage, Galaxy A06 5G comes in three sleek and attractive colours – Black, Gray and Light Green. As a special launch offer, customers can avail one-year screen protection plan with Samsung Care+ package at just INR 129, providing additional protection and peace of mind.

“With the launch of Galaxy A06 5G, we are bringing segment-leading 12 5G bands for a great 5G experience. Designed to offer awesome connectivity, powerful performance, and segment leading innovations, the device reaffirms our commitment to making cutting-edge technology accessible to everyone. With this device, we are also ensuring that users can enjoy high-speed connectivity for work and entertainment along with unmatched durability,” said Akshay S Rao, General Manager, MX Business, Samsung India.

Awesome Performance
Galaxy A06 5G supports all network compatibility, 12 5G bands and features carrier aggregation for enhanced network connectivity and faster speeds across all telecom operators. Powered by the MTK D6300 processor, Galaxy A06 5G ensures powerful performance and makes multitasking, gaming, and streaming an effortless exercise. The smartphone also provides RAM up to 12GB with RAM Plus feature.

Awesome Camera and Display
The device is equipped with a 50MP main rear camera for capturing sharp and detailed images and a 2MP depth camera for enhanced clarity, while the 8MP front camera ensures high-quality selfies and video calls. The smartphone also features a sleek and stylish design while ensuring a vivid visual experience with its expansive 6.7-inch HD+ display with a 20:9 aspect ratio. The smartphone also features a 5,000 mAh battery with best in segment 25W fast charging support.

Awesome Trustworthiness
Galaxy A06 5G will be available with Android 15 and Samsung’s One UI 7, ensuring users get the latest software experience. Samsung is redefining reliability with Galaxy A06 5G, offering an impressive 4 generations of OS upgrades and 4 years of security updates, a commitment that sets it apart in this segment. These industry-leading upgrades and updates are set to keep the device always up to date and ensure smoother usage experiences for users for a long period. Built for durability, Galaxy A06 5G comes with an IP54 rating, providing protection against dust and splashes.

Awesome Galaxy Experience
Samsung is also introducing ‘Voice Focus’ in the smartphone for the first time, an India-first innovation designed to enhance call clarity in noisy environments, making conversations clearer and more effective. This feature reflects Samsung’s commitment to bringing meaningful innovations tailored to the needs of Indian consumers. The device also prioritizes security and privacy by incorporating Samsung’s defense-grade Knox Vault security that empowers users to manage their data securely, enhancing their overall experience.

Price and Launch Offers
Product
Colors
Variant
Price (INR)
Offers

Galaxy A06 5G
Black, Gray, Light Green
4GB + 64GB
10499
One year screen protection plan @ INR 129 with Samsung Care + package against standard market price of INR 699
4GB + 128GB
11499
6GB + 128GB
12999

Galaxy A06 5G also comes with attractive EMI offers with Samsung Finance+, NBFC and banks, wherein consumers can own the smartphone for as low as INR 875 per month.

MIL OSI Economics –

February 20, 2025
MIL-OSI Africa: CORRECTION – African Union Summit: African Development Bank President Highlights a Decade of Economic Transformational Impact
Source: Africa Press Organisation – English (2) – Report:

ADDIS ABABA, Ethiopia, February 19, 2025/APO Group/ —
- “It’s been my greatest honor to serve you and Africa”—Adesina tells African leaders
- Governments across Africa pay tribute to Adesina’s exceptional leadership
- UN Secretary General Guterres says global financial architecture hampering Africa’s development, calls for reforms
African Development Bank Group (www.AfDB.org) President Dr. Akinwumi A. Adesina, delivered a compelling farewell address to Heads of State and Government at the 38^th African Union Summit, highlighting a decade of remarkable achievements by the Bank in driving Africa’s economic transformation. Adesina’s participation at the august continental gathering in Addis Ababa ended on a high note as African leaders considered and endorsed four Bank-led initiatives including the drive to connect 300 million Africans to electricity by 2030, measuring Africa’s green wealth as part of its GDP, an innovative facility to provide Africa with a financial buffer and a roadmap for the continent to achieve inclusive growth and rapid sustainable development.

Adesina, who is also the Chairman of the Group’s Boards of Directors, underscored the impact of the Bank’s High 5s Agenda—Light up and Power Africa, Feed Africa, Industrialize Africa, Integrate Africa, and Improve the Quality of Life for the People of Africa—which has impacted more than half a billion lives across the continent.

“It has been an unprecedented partnership to advance the goal of the African Union towards achieving Agenda 2063: the Africa we want,” said Adesina who in February 2022, became the first president of the Bank Group to address the AU Summit.

During the final day of the assembly, several African governments and AU officials paid tribute to Dr. Adesina for his exceptional leadership of the Bank and strong global advocacy for Africa, He ends his tenure as the Bank Group’s president on 1^st September 2025.

The February 15–16 Summit saw the election of Djibouti’s Foreign Minister Mahmoud Ali Youssouf as Chairperson of the African Union Commission, taking over from Moussa Faki Mahamat. Algeria’s Ambassador, Salma Malika Haddadi, was elected the Commission’s Deputy Chairperson.

Reflecting on his tenure at the helm of the African Development Bank, Dr. Adesina said the Bank has transformed 515 million lives, including 231 million women, over the past decade:
- 127 million people gained access to better services in terms of health.
- 61 million people gained access to clean water.
- 33 million people benefited from improved sanitation.
- 46 million people gained access to ICT services, and
- 25 million people gained access to electricity.
He cited the landmark Africa Energy Summit held in Tanzania in January, where 48 nations signed the Dar Es Salaam Declaration to adopt bold policies in support of an initiative by the World Bank and the African Development Bank to extend electricity access to 300 million Africans by 2030. That meeting, attended by 21 heads of state, secured $48 billion in commitments from the two institutions and an additional $7 billion from other development partners.

The Addis Ababa Summit endorsed the Dar Es Salaam Energy Declaration, the Baku Declaration by African Heads of State on Measuring the Green Wealth of Africa. The Assembly also adopted the African Financing Stability Mechanism, a groundbreaking initiative mandated by the African Union Heads of State and Government. Co-led by the African Union Commission and the African Development Bank, it could generate, if immediately implemented, approximately USD 20 billion in debt servicing savings for African countries by 2035. The Assembly also adopted the Strategic Framework on Key Actions to Achieve Inclusive Growth and Sustainable Development in Africa report which outlines key actions required to enable Africa to achieve, and sustain an annual growth rate of at least 7% of GDP over the next five decades.

On food security, Adesina cited the Bank’s Technologies for African Agricultural Transformation (TAAT), the Dakar 2 Food Summit that mobilized $72 billion in 2023, and the $1.5 billion Africa Emergency Food Production Facility that was launched in May 2022 to avert a major food and fertilizer crisis triggered by global conflicts.

“The African Development Bank accelerated food production in Africa. Over 101 million people became food secure. We mobilized $72 billion to implement the food and agriculture delivery compacts across the continent,” he stressed. With the support of the Bank, Ethiopia has achieved self-sufficiency in wheat production within four years and is now a wheat-exporting nation.

A Decade of Transformative Impact

With a strong focus on job creation, the Bank has trained 1.7 million youth in digital skills and is rolling out Youth Entrepreneurship Investment Banks to drive youth-led economic growth. “Our goal is simple: create youth-based wealth across Africa,” Adesina reiterated.

Additionally, the Affirmative Finance Action for Women in Africa (AFAWA) initiative has provided $2.5 billion in financing to over 24,000 women-owned businesses, said Adesina.

Over the past decade, the African Development Bank has invested over $55 billion in infrastructure, making it the largest multilateral financier of African infrastructure.

The Bank has also prioritized healthcare, committing $3 billion in quality healthcare infrastructure and another $3 billion for pharmaceutical development, including establishing the Africa Pharmaceutical Technology Foundation.

Historic Financial Mobilization for Africa

Under Adesina’s presidency, the Bank achieved its largest-ever capital increase, growing from $93 billion in 2015 to $318 billion currently. The most recent replenishment of the African Development Fund, the Bank Group’s concessional window, raised a record $8.9 billion for Africa’s 37 low-income countries, setting the stage for a target of $25 billion for its upcoming 17th replenishment.

The Africa Investment Forum, a joint effort with eight other partner institutions, has also mobilized over $200 billion in investment commitments, reinforcing Africa as a leading investment destination.

As he bade farewell, the outgoing Bank chief expressed gratitude to the African Heads of State, the African Union Commission, regional economic communities, and the people of Africa for their unwavering support.

“As today will be my final attendance of the AU Summit as President of the African Development Bank, I would like to use this opportunity to immensely thank your Excellencies Heads of State and Government for your extraordinary support over the past ten years. I am very grateful for your always being there for the African Development Bank—your Bank. I am very grateful for your kindness, friendship, and partnership as we forged global alliances to advance the continent’s interest around the world,” he said.

The 2025 Summit under the theme, “Justice for Africans and People of African Descent Through Reparations,” drew global political leaders and other dignitaries, including UN Secretary-General António Guterres, and the Prime Minister of Barbados, Mia Mottley.

Guterres reiterated calls for reform of the international financial architecture, which is hampering the development of many African economies, beset by expensive debt repayments and high borrowing costs, which limits their capacity to invest in education, health and other essential needs.

Prime Minister Mottley emphasized Africa’s strategic role in shaping global economic trends, particularly highlighting the continent’s control of 40% of the world’s minerals. She stressed the importance of addressing emerging challenges like artificial intelligence, urging African nations to take a proactive role in technological advancement rather than becoming “victims of technology.”

She also underscored the urgency of removing artificial barriers between Africa and the Caribbean, calling for the elimination of transit visa requirements to boost trade and integration. Mottley echoed demands for reparatory justice, noting that both the Caribbean and Africa began their independence journey with “chronic deficits” in resources, fairness, and opportunity.

Opening the Summit on Saturday, Ethiopian Prime Minister Dr. Abiy Ahmed urged continued unity among member countries in addressing the challenges.

“In a world marked by rapid change and multiple challenges, we find ourselves at the crossroads of uncertainty and opportunity. This movement calls upon us to strengthen our collective resolve, embrace resilience and foster unity across Africa”, he said.

MIL OSI Africa –
February 20, 2025
MIL-OSI United Kingdom: Getting help with Council Tax and changing the way you pay

Source: City of Coventry

Approximately 67 per cent of households in the city pay by Direct Debit, which is the easiest way to pay your Council Tax, especially if you’re worried about forgetting to pay.

Instead of making the payment directly, Direct Debit means the Council take the amount out of a person’s bank account, when it is due.

It also means the customer is protected by the Direct Debit Guarantee. If they wish to change the way that they pay and switch to Direct Debit the online instruction is simple to complete.

For anyone who currently pays their Council Tax in 10 instalments and want to switch to 12, this can be requested by completing this quick form.

A change of circumstance

The Council also want people to get in touch if their circumstances have changed by applying to us for a Council Tax Discount.

Anyone eligible will get a discount on their bill. For example, if just one person is living in the household – where before there was two or more – the bill will be reduced by 25 per cent.

Also, people who are claiming Universal Credit or other benefits may not automatically receive council tax support, but they can make a claim to ensure they don’t pay more than they need to. Make a claim for council tax support or for more information.

Cllr Richard Brown, Cabinet Member for Finance, said:

“It’s important that people contact us if they want to change the way they pay, can’t afford to pay or have a change of circumstances when it comes to paying Council Tax.

“Most people find it easiest to pay by Direct Debit but if you don’t it is quite easy to switch. Also, I’d encourage anyone who may have a query to get in touch and if anyone is eligible for support with a reduction on their bill they can get help.”

Anyone who may no longer want to receive a paper copy bill can visit Council Tax – Sign up to paperless billing – Data protection – Coventry City Council

Published: Wednesday, 19th February 2025

MIL OSI United Kingdom –

February 20, 2025
MIL-OSI: Amplify ETFs Changes Fund Name to Highlight 12% Option Income Strategy: Amplify Bloomberg U.S. Treasury 12% Premium Income ETF (TLTP)

Source: GlobeNewswire (MIL-OSI)

CHICAGO, Feb. 19, 2025 (GLOBE NEWSWIRE) — Amplify ETFs, a leading provider of innovative exchange-traded funds, emphasizes its 12% option income strategy by renaming the TLTP ETF to the Amplify Bloomberg U.S. Treasury 12% Premium Income ETF (formerly Amplify Bloomberg U.S. Treasury Target High Income ETF), effective today. The fund will continue trading under its existing CBOE ticker, TLTP.

The name change helps investors quickly recognize the fund’s primary strategy to generate 12% annualized option premium income with a monthly scheduled distribution frequency. The fund provides convenient, efficient entry to a tailored weekly U.S. Treasury covered call option strategy via a single ticker and has the potential for additional U.S. Treasury bond income. There are no changes to the fund’s investment strategy, structure or management.

TLTP seeks to track the performance (before fees and expenses) of the Bloomberg U.S. Treasury 20+ Year 12% Premium Covered Call 2.0 Index, which is designed to provide a targeted annualized option premium income of 12% through writing weekly covered call options. This approach seeks to generate higher levels of income by targeting 12% option premium income as well as the income from underlying U.S. Treasuries.

For more information about the Amplify Bloomberg U.S. Treasury 12% Premium Income ETF (TLTP), please visit AmplifyETFs.com/TLTP.

About Amplify ETFs
Amplify ETFs, sponsored by Amplify Investments, has over $10.6 billion in assets across its suite of ETFs (as of 1/31/2025). Amplify ETFs delivers expanded investment opportunities for investors seeking growth, income, and risk-managed strategies across a range of actively managed and index-based ETFs. To learn more visit AmplifyETFs.com.

Sales Contact:
Amplify ETFs
855-267-3837
info@amplifyetfs.com Media Contact:
Gregory FCA for Amplify ETFs
Kerry Davis
610-228-2098
amplifyetfs@gregoryfca.com

*A covered call refers to a financial transaction in which the investor selling call options owns an equivalent amount of the underlying security.

Carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. This and other information can be found in the Fund’s statutory and summary prospectuses, which may be obtained at AmplifyETFs.com. Read the prospectus carefully before investing.

Investing involves risk, including the possible loss of principal. You could lose money by investing in the Fund. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. There can be no assurance that the Fund’s investment objectives will be achieved. Interest Rate Risk is the risk when interest rates rise, there is a corresponding decline in bond values. Conversely, very low or negative interest rates may magnify interest rate risk. The Fund is subject to the risks associated with the Underlying Funds specifically U.S. Treasury Securities Risk. The Fund bears its proportionate share of the Underlying ETF’s expenses.

The Fund is non-diversified and can invest a greater portion of its assets in individual securities than a diversified fund; changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a diversified fund. Covered call risk is the risk that the Fund will forgo, during the option’s life, the opportunity to profit from increases in the market value of the security covering the call option above the sum of the premium and the strike price of the call, but has retained the risk of loss should the price of the underlying security decline. The Fund will also utilize FLEX Options and is subject to the risk that the OCC will be unable or unwilling to perform its obligations under the FLEX Options contracts. The Fund currently expects to make distributions on a regular basis, a portion of which may be considered return of capital.

Amplify Investments LLC is the Investment Adviser to the Fund, and Samsung Asset Management (New York), Inc. serves as the Investment Sub-Adviser.

Amplify ETFs are distributed by Foreside Fund Services, LLC.

The MIL Network –

February 20, 2025

MIL-OSI: Global-e Reports Fourth Quarter and Full Year 2024 Results

Source: GlobeNewswire (MIL-OSI)

PETAH-TIKVA, Israel, Feb. 19, 2025 (GLOBE NEWSWIRE) — Global-e Online Ltd. (Nasdaq: GLBE) the platform powering global direct-to-consumer e-commerce, today reported financial results for the fourth quarter of 2024 and full year 2024.

“2024 was yet another record-breaking year for Global-e, and it came to a great close with a fourth quarter which was our strongest quarter ever, as we continued to execute on our strategy and further solidify Global-e’s leadership position in the global e-commerce space,” said Amir Schlachet, Founder and CEO of Global-e. “In addition, we achieved two important financial milestones during the quarter. For the first time in our journey, we crossed the 20% Adjusted EBITDA Margin mark, which was the long-term target we set for ourselves at the IPO, and we reached GAAP profitability for the first time as a public company; a testament to our relentless focus on delivering fast yet durable growth.”

“As we head into 2025, we remain as committed as ever to continue on our growth path, deliver more cutting-edge and market-leading solutions to our merchants and seize more and more of the great opportunities that lie ahead of us in the world of global e-commerce. In 2025, we also expect to achieve three additional key financial milestones: surpass the 20% Adjusted EBITDA Margin mark on a full year basis, achieve annual GAAP profitability, and most importantly, for the first time, cross an annual run-rate of $1 billion in Revenues.”

Q4 2024 Financial Results

GMV¹ in the fourth quarter of 2024 was $1,713 million, an increase of 44% year over year
Revenue in the fourth quarter of 2024 was $262.9 million, an increase of 42% year over year, of which service fees revenue was $117.3 million and fulfillment services revenue was $145.6 million
Non-GAAP gross profit² in the fourth quarter of 2024 was $120.9 million, an increase of 53% year over year. GAAP gross profit in the fourth quarter of 2024 was $118.7 million
Non-GAAP gross margin² in the fourth quarter of 2024 was 46%, an increase of 330 basis points from 42.7% in the fourth quarter of 2023. GAAP gross margin in the fourth quarter of 2024 was 45.1%
Adjusted EBITDA³ in the fourth quarter of 2024 was $57.1 million compared to $35.2 million in the fourth quarter of 2023, an increase of 62% year over year
Net profit in the fourth quarter of 2024 was $1.5 million
Net cash provided by operating activities in the fourth quarter of 2024 was $129.3 million, while capital expenditures totaled $0.5 million, leading to free cash flow of $128.8 million

FY 2024 Financial Results

GMV¹ for the full year was $4,858 million, an increase of 37% year over year
Revenue for the full year was $752.8 million, an increase of 32% year over year, of which service fees revenue was $350.3 million and fulfillment services revenue was $402.5 million
Non-GAAP gross profit² for the full year was $349.4 million, an increase of 43% year over year. GAAP gross profit for the full year was $339.4 million
Non-GAAP gross margin² for the full year was 46.4%, an increase of 350 basis points from 42.9% in 2023. GAAP gross margin for the full year was 45.1%
Adjusted EBITDA³ for the full year was $140.8 million compared to $92.7 million in 2023, an increase of 51.8% year over year
Net loss for the full year was $75.5 million
Net cash provided by operating activities in the full year was $169.4 million, while capital expenditures totaled $2.3 million, leading to free cash flow of $167.1 million

Recent Business Highlights

Throughout 2024, our existing merchant base continued to stay and grow with us, as reflected in our annual enterprise NDR rate of 119% and GDR rate of 93.5%. GDR and NDR were negatively impacted by the out of the ordinary bankruptcy of Ted Baker and by several Borderfree merchants that chose not to re-platform to the Global-e platform. NDR and GDR excluding the out of the ordinary churn for 2024 is close to 123% and 97%, respectively
Recently launched with Logitech, one of the world’s largest and most innovative providers of computer peripherals and input devices, gaming accessories, audio and video gear and smart home device
On-boarded many additional new merchants located around the globe and trading in various verticals, including:
- North America – shapewear brand Spanx, Thursday Boots, and the web store of famous fashion designer Tom Ford
- UK and Europe – Spanish brand Tous, Italian fashion brand Slowear, UK footwear brand Phoebe Philo, German brand IvyOak, Swiss running gear brand Compressport, famous Austrian lingerie brand Triumph, French brands ZAPA and MOLLI, and the Finish brand HURTTA
- APAC – Japanese brands Komehyo, one of Japan’s largest retailers of second-hand goods, Kyoto-based wristwatch brand Kuoe, novelty brands Mofusand and Taito, and the tailored shirt brand Kamakura Shirts, as well as the renowned Korean cosmetics brand Depology, and Australian fashion brands Zoe Kratzmann and SECONDLEFT
Expanded to new lanes with existing merchants – added Romania and Croatia to the markets we operate for Adidas, went live with a new outlet site for John Smedley, and added Strellson, the third brand to go live with us out of the Swiss Holy Fashion Group
Shopify Managed Markets – continued joint work with Shopify to add new features and functionalities to the Managed Markets offering, aimed at making it applicable to a wider range of merchants on the Shopify platform

Q1 2025 and Full Year Outlook

Global-e is introducing first quarter and full year guidance as follows:

	Q12025	FY 2025
	(in millions)
GMV⁽¹⁾	$1,210 – $1,250	$6,190 – $6,490
Revenue	$184.5 – $191.5	$917 – $967
Adjusted EBITDA⁽³⁾	$29.5 – $33.5	$179 – $199

¹ Gross Merchandise Value (GMV) is a key operating metric. See “Non-GAAP Financial Measures and Key Operating Metrics” for additional information regarding this metric.
² Non-GAAP Gross profit and Non-GAAP gross margin are non-GAAP financial measures. See “Non-GAAP Financial Measures and Key Operating Metrics” for additional information regarding this metric.
³ Adjusted EBITDA is a non-GAAP financial measure. See “Non-GAAP Financial Measures” for additional information regarding this metric, including the reconciliations to Operating Profit (Loss), its most directly comparable GAAP financial measure. The Company is unable to provide a reconciliation of Adjusted EBITDA to Operating Profit (Loss), its most directly comparable GAAP financial measure, on a forward-looking basis without unreasonable effort because items that impact this GAAP financial measure are not within the Company’s control and/or cannot be reasonably predicted. These items may include, but are not limited to, share-based compensation expenses. Such information may have a significant, and potentially unpredictable impact on the Company’s future financial results.

Conference Call Information

Global-e will host a conference call at 8:00 a.m. ET on Wednesday, February 19, 2025.
The call will be available, live, to interested parties by dialing:

United States/Canada Toll Free:	1-800-717-1738
International Toll:	1-646-307-1865

A live webcast will also be available in the Investor Relations section of Global-e’s website at: https://investors.global-e.com/news-events/events-presentations

Approximately two hours after completion of the live call, an archived version of the webcast will be available on the Investor Relations section of the Company’s web site and will remain available for approximately 30 calendar days.

Non-GAAP Financial Measures and Key Operating Metrics

To supplement Global-e’s financial information presented in accordance with generally accepted accounting principles in the United States of America, or GAAP, Global-e considers certain financial measures and key performance metrics that are not prepared in accordance with GAAP including:

Non-GAAP gross profit, which Global-e defines as gross profit adjusted for amortization of acquired intangibles. Non-GAAP gross margin is calculated as Non-GAAP gross profit divided by revenues
Adjusted EBITDA, which Global-e defines as operating profit (loss) adjusted for stock-based compensation expenses, depreciation and amortization, commercial agreements amortization, amortization of acquired intangibles and merger related contingent consideration.
Free cash flow, which Global-e defines as net cash provided by operating activities less purchase of property and equipment.

Global-e also uses Gross Merchandise Value (GMV) as a key operating metric. Gross Merchandise Value or GMV is defined as the combined amount we collect from the shopper and the merchant for all components of a given transaction, including products, duties and taxes and shipping.

The aforementioned key performance indicators and non-GAAP financial measures are used, in conjunction with GAAP measures, by management and our board of directors to assess our performance, including the preparation of Global-e’s annual operating budget and quarterly forecasts, for financial and operational decision-making, to evaluate the effectiveness of Global-e’s business strategies, and as a means to evaluate period-to-period comparisons. These measures are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. We believe that these non-GAAP financial measures are appropriate measures of operating performance because they remove the impact of certain items that we believe do not directly reflect our core operations, and permit investors to view performance using the same tools that we use to budget, forecast, make operating and strategic decisions, and evaluate historical performance.

Global-e’s definition of Non-GAAP measures may differ from the definition used by other companies and therefore comparability may be limited. In addition, other companies may not publish these metrics or similar metrics. Furthermore, these metrics have certain limitations in that they do not include the impact of certain expenses that are reflected in our consolidated statement of operations that are necessary to run our business. Thus, Non-GAAP measures should be considered in addition to, not as substitutes for, or in isolation from, measures prepared in accordance with GAAP.

For more information on the non-GAAP financial measures, please see the reconciliation tables provided below. The accompanying reconciliation tables have more details on the GAAP financial measures that are most directly comparable to non-GAAP financial measures and the related reconciliations between these financial measures.

Cautionary Note Regarding Forward Looking Statements

This press release contains estimates and forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements as contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our future strategy and projected revenue, GMV, Adjusted EBITDA and other future financial and operational results, growth strategy and plans and objectives of management for future operations, including, among others, expansion in new and existing markets, the launch of large enterprise merchants, and our ongoing partnership with Shopify, are forward-looking statements. As the words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “target,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible” or the negative of these terms or other similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Global-e believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement, including but not limited to, our rapid growth and growth rates in recent periods may not be indicative of future growth; the ability to retain merchants or the GMV generated by such merchants; the ability to retain existing, and attract new merchants; our business acquisitions and ability to effectively integrate acquired businesses; our ability to anticipate merchant needs or develop or acquire new functionality or enhance our existing platforms to meet those needs; our ability to implement and use artificial intelligence and machine learning technologies successfully; our ability to compete in our industry; our reliance on third-parties, including our ability to realize the benefits of any strategic alliances, joint ventures, or partnership arrangements and to integrate our platforms with third-party platforms; our ability to develop or maintain the functionality of our platforms, including real or perceived errors, failures, vulnerabilities, or bugs in our platforms; our history of net losses; our ability to manage our growth and manage expansion into additional markets; increased attention to ESG matters and our ability to manage such matters; our ability to accommodate increased volumes during peak seasons and events; our ability to effectively expand our marketing and sales capabilities; our expectations regarding our revenue, expenses and operations; our ability to operate internationally; our reliance on third-party services, including third-party providers of cross-docking services and third-party data centers, in our platforms and services and harm to our reputation by our merchants’ or third-party service providers’ unethical business practices; our ability to adapt to changes in mobile devices, systems, applications, or web browsers that may degrade the functionality of our platforms; our operation as a merchant of record for sales conducted using our platform; regulatory requirements and additional fees related to payment transactions through our e-commerce platforms could be costly and difficult to comply with; compliance and third-party risks related to anti-money laundering, anti-corruption, anti-bribery, regulations, economic sanctions and export control laws and import regulations and restrictions; our business’s reliance on the personal importation model; our ability to securely store personal information of merchants and shoppers; increases in shipping rates; fluctuations in the exchange rate of foreign currencies has impacted and could continue to impact our results of operations; our ability to offer high quality support; our ability to expand the number of merchants using our platforms and increase our GMV and to enhance our reputation and awareness of our platforms; our dependency on the continued use of the internet for commerce; our ability to adapt to emerging or evolving regulatory developments, changing laws, regulations, standards and technological changes related to privacy, data protection, data security and machine learning technology and generative artificial intelligence evolves; the effect of the situation in Ukraine on our business, financial condition and results of operations; our role in the fulfilment chain of the merchants, which may cause third parties to confuse us with the merchants; our ability to establish and protect intellectual property rights; and our use of open-source software which may pose particular risks to our proprietary software technologies; our dependency on our executive officers and other key employees and our ability to hire and retain skilled key personnel, including our ability to enforce non-compete agreements we enter into with our employees; litigation for a variety of claims which we may be subject to; the adoption by merchants of a direct to consumer model; our anticipated cash needs and our estimates regarding our capital requirements and our needs for additional financing; our ability to maintain our corporate culture; our ability to maintain an effective system of disclosure controls and internal control over financial reporting; our ability to accurately estimate judgments relating to our critical accounting policies; changes in tax laws or regulations to which we are subject, including the enactment of legislation implementing changes in taxation of international business activities and the adoption of other corporate tax reform policies; requirements to collect sales or other taxes relating to the use of our platforms and services in jurisdictions where we have not historically done so; global events such as war, health pandemics, climate change, macroeconomic events and the recent economic slowdown; risks relating to our ordinary shares, including our share price, the concentration of our share ownership with insiders, our status as a foreign private issuer, provisions of Israeli law and our amended and restated articles of association and actions of activist shareholders; risks related to our incorporation and location in Israel, including risks related to the ongoing war and related hostilities; and the other risks and uncertainties described in Global-e’s Annual Report on Form 20-F for the year ended December 31, 2023, filed with the SEC on March 28, 2024 and other documents filed with or furnished by Global-e from time to time with the Securities and Exchange Commission (the “SEC”). The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements.

About Global-E Online Ltd.

Global-e (Nasdaq: GLBE) is the world’s leading platform enabling and accelerating global, Direct-To-Consumer e-commerce. The chosen partner of over 1,000 brands and retailers across the United States, EMEA and APAC, Global-e makes selling internationally as simple as selling domestically. The company enables merchants to increase the conversion of international traffic into sales by offering online shoppers in over 200 destinations worldwide a seamless, localized shopping experience. Global-e’s end-to-end e-commerce solutions combine best-in-class localization capabilities, big-data best-practice business intelligence models, streamlined international logistics and vast global e-commerce experience, enabling international shoppers to buy seamlessly online and retailers to sell to, and from, anywhere in the world. For more information, please visit: www.global-e.com.

Investor Contact:
Erica Mannion or Mike Funari
Sapphire Investor Relations, LLC
IR@global-e.com
+1 617-542-6180

Press Contact:
Sarah Schloss
Headline Media
Globale@headline.media
+1 786-233-7684

Global-E Online Ltd. CONSOLIDATED BALANCE SHEETS (In thousands)
	Period Ended
	December 31,			December 31,
	2023			2024
				(Unaudited)
Assets
Current assets:
Cash and cash equivalents	$	200,081		$	250,773
Short-term deposits		96,939			187,322
Accounts receivable, net		27,841			41,171
Prepaid expenses and other current assets		63,967			84,613
Marketable securities		20,403			36,345
Funds receivable, including cash in banks		111,232			122,984
Total current assets		520,463			723,208
Property and equipment, net		10,236			10,440
Operating lease right-of-use assets		23,052			24,429
Long term deposits		3,552			3,786
Deferred contract acquisition costs, noncurrent		2,668			3,787
Other assets, noncurrent		4,078			4,527
Commercial agreement asset	192,721				66,527
Goodwill		367,566			367,566
Intangible assets		78,024			59,212
Total long-term assets		681,897			540,274
Total assets	$	1,202,360		$	1,263,482
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable	$	50,943		$	79,559
Accrued expenses and other current liabilities		107,306			141,551
Funds payable to Customers		111,232			122,984
Short term operating lease liabilities		4,031			4,347
Total current liabilities		273,512			348,441
Long-term liabilities:
Deferred tax liabilities		6,507			–
Long term operating lease liabilities		19,291			20,510
Other long-term liabilities		1,071			1,098
Total liabilities	$	300,381		$	370,049

Shareholders’ deficit:
Share capital and additional paid-in capital		1,360,250			1,425,317
Accumulated comprehensive income		(1,420	)		515
Accumulated deficit		(456,851	)		(532,399	)
Total shareholders’ (deficit) equity		901,979			893,433
Total liabilities and shareholders’ equity	$	1,202,360		$	1,263,482

Global-E Online Ltd. CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except share and per share data)
	Three Months Ended						Year Ended
	December 31,						December 31,
	2023			2024			2023			2024
	(Unaudited)										(Unaudited)
Revenue	$	185,401		$	262,912		$	569,946		$	752,764
Cost of revenue		109,080			144,253			336,343			413,331
Gross profit		76,321			118,659			233,603			339,433

Operating expenses:
Research and development		25,169			28,284			97,568			105,487
Sales and marketing		58,756			70,936			217,035			250,661
General and administrative		15,451			14,257			56,059			51,213
Total operating expenses, net		99,376			113,477			370,662			407,361
Operating profit (loss)		(23,055	)		5,182			(137,059	)		(67,928	)
Financial expenses (income), net		(5,010	)		6,073			(5,262	)		11,465
Loss before income taxes		(18,045	)		(891	)		(131,797	)		(79,393	)
Income tax (benefit) expenses		4,055			(2,400	)		2,008			(3,845	)
Net profit (loss) attributable to ordinary shareholders	$	(22,100	)	$	1,509		$	(133,805	)	$	(75,548	)
Net profit (loss) per share attributable to ordinary shareholders, basic	$	(0.13	)	$	0.01		$	(0.81	)	$	(0.45	)
Net profit (loss) per share attributable to ordinary shareholders, diluted	$	(0.13	)	$	0.01		$	(0.81	)	$	(0.45	)
Weighted-average shares used in computing net loss per share attributable to ordinary shareholders, basic		165,626,904			168,419,800			164,353,909			167,323,350
Weighted-average shares used in computing net loss per share attributable to ordinary shareholders, diluted		165,626,904			175,674,929			164,353,909			167,323,350

Global-E Online Ltd. CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands)
	Three Months Ended						Year Ended
	December 31,						December 31,
	2023			2024			2023					2024
	(Unaudited)											(Unaudited)
Operating activities
Net profit (loss)	$	(22,100	)	$	1,509		$		(133,805	)		$	(75,548		)
Adjustments to reconcile net profit (loss) to net cash provided by operating activities:
Depreciation and amortization		489			547				1,788				2,131
Share-based compensation expenses		12,180			9,538				44,960				39,158
Commercial agreement asset		37,433			37,433				150,451				148,594
Amortization of intangible assets		5,091			4,402				20,434				18,812
Unrealized loss (gain) on foreign currency		(3,011	)		3,554				(1,901	)			4,468
Changes in accrued interest and exchange rate on short-term deposits		72			(1,373	)			(416	)			(1,329		)
Changes in accrued interest and exchange rate on long-term deposits		(144	)		364				(255	)			200
Accounts receivable		(14,390	)		15,925				(11,417	)			(13,330		)
Prepaid expenses and other assets		61			(24,164	)			(11,736	)			(18,019		)
Funds receivable		(9,038	)		8,726				(11,074	)			(3,205		)
Long-term receivables		(1,497	)		51				(339	)		551
Funds payable to customers		40,817			2,564				33,107				11,752
Operating lease ROU assets		786			991				3,230				3,691
Deferred contract acquisition costs		(772	)		(322	)			(1,207	)			(1,382		)
Accounts payable		18,438			37,176				(1,277	)			28,617
Accrued expenses and other liabilities		25,345			35,945				30,625				34,272
Deferred taxes		3,635			(2,592	)			120				(6,507		)
Operating lease liabilities		99			(987	)			(3,067	)			(3,533		)
Net cash provided by operating activities		93,494			129,287				108,222				169,393
Investing activities
Investment in marketable securities		(851	)		(18,331	)			(3,728	)			(21,128		)
Proceeds from marketable securities	–				2,028			671						4,988
Investment in short-term deposits		(43,250	)		(77,848	)			(175,237	)			(269,601		)
Proceeds from short-term deposits		34,318			22,298				125,068				180,548
Purchases of long-term investments		(4	)		(307	)			(82	)			(1,459		)
Proceeds from long-term deposits		10			24				10				24
Purchases of property and equipment		(926	)		(482	)			(1,741)				(2,335		)
Net cash used in investing activities		(10,703	)		(72,618	)			(55,039	)			(108,963		)
Financing activities
Proceeds from exercise of Warrants to ordinary shares		–		3					22		5
Proceeds from exercise of share options		244			1,632				1,969				3,271
Net cash provided by financing activities		244			1,635				1,991				3,276
Exchange rate differences on balances of cash, cash equivalents and restricted cash		3,011			(3,554	)			1,901				(4,468		)
Net Increase in cash, cash equivalents, and restricted cash		86,046			54,750				57,075				59,238
Cash and cash equivalents and restricted cash—beginning of period		182,551			273,086				211,522				268,597
Cash and cash equivalents and restricted cash—end of period	$	268,597		$	327,835		$		268,597			$	327,835

Global-E Online Ltd. SELECTED OTHER DATA (In thousands)
	Three Months Ended									Year Ended
	December 31,									December 31,
	2023					2024				2023					2024
	(Unaudited)									(Unaudited)
Key performance metrics
Gross Merchandise Value		1,189,467					1,712,903				3,557,444					4,857,970
Adjusted EBITDA (a)		35,178					57,102				92,735					140,767

Revenue by Category
Service fees		89,936		49	%		117,268	45	%		262,255		46	%		350,311	47	%
Fulfillment services		95,465		51	%		145,644	55	%		307,692		54	%		402,453	53	%
Total revenue	$	185,401		100	%	$	262,912	100	%	$	569,946		100	%	$	752,764	100	%

Revenue by merchant outbound region
United States		94,887		51	%		146,250	56	%		285,619		50	%		399,596	53	%
United Kingdom		54,962		30	%		55,807	21	%		173,584		30	%		182,904	24	%
European Union		29,421		16	%		44,469	17	%		92,566		16	%		125,547	17	%
Israel		479		0	%		1,671	1	%		1,806		0	%		2,746	0	%
Other	5,652		3		%		14,715	5	%	16,371		3		%		41,971	6	%
Total revenue	$	185,401		100	%	$	262,912	100	%	$	569,946		100	%	$	752,764	100	%

(a) See reconciliation to adjusted EBITDA table

Global-E Online Ltd. RECONCILIATION TO Non-GAAP GROSS PROFIT (In thousands)
		Three Months Ended				Year Ended
		December 31,				December 31,
		2023		2024		2023		2024
	(Unaudited)
Gross Profit			76,321		118,659		233,603		339,433

Amortization of acquired intangibles included in cost of revenue			2,796		2,198		11,183		9,994
Non-GAAP gross profit			79,117		120,857		244,786		349,427

Global-E Online Ltd. RECONCILIATION TO ADJUSTED EBITDA (In thousands)
	Three Months Ended					Year Ended
	December 31,					December 31,
	2023			2024		2023			2024
	(Unaudited)
Operating profit (loss)		(23,055	)		5,182		(137,059	)		(67,928	)
(1) Stock-based compensation:
Cost of revenue		186			275		639			929
Research and development		6,962			4,153		26,266			17,291
Selling and marketing		1,238			1,528		4,259			5,836
General and administrative		3,794			3,582		13,796			15,102
Total stock-based compensation		12,180			9,538		44,960			39,158

(2) Depreciation and amortization		489			547		1,788			2,131

(3) Commercial agreement asset amortization	37,433				37,433	150,451				148,594

(4) Amortization of acquired intangibles	5,091				4,402	20,434				18,812

(5) Merger related contingent consideration	3,040				–	12,161				–

Adjusted EBITDA		35,178			57,102		92,735			140,767

Global-E Online Ltd. RECONCILIATION TO FREE CASH FLOW (In thousands)
		Three Months Ended						Year Ended
		December 31,						December 31,
		2023			2024			2023			2024
	(Unaudited)
Net cash provided by operating activities			93,434			129,287			108,222			169,393
Less:
Purchase of property and equipment			(926	)		(482	)		(1,741	)		(2,335	)
Free cash flow			92,508			128,805			106,481			167,058

The MIL Network –

February 20, 2025

MIL-OSI: NNIT A/S: Notice convening the annual general meeting for NNIT A/S
Source: GlobeNewswire (MIL-OSI)

The Board of Directors gives notice of the annual general meeting for NNIT A/S, company registration (CVR) no. 21 09 31 06 (the “Company”), to be held Thursday, March 13, 2025, 2:00 pm (CET) at Novo Holdings A/S, Tuborg Havnevej 19, DK-2900 Hellerup.

The general meeting will for shareholders be webcasted live on the Company’s investor portal. It is not possible to vote or ask questions via webcast.

The notice for the annual general meeting, including Appendix A: Candidates for (re-)election to the Board of Directors, is attached.

For more information, please contact:

Investor Relations
Carsten Ringius
EVP & CFO
Tel: +45 3077 8888
carr@nnit.com

Media Relations
Sofie Mand Steffens
Senior Communications Consultant
Tel: +45 3077 8337
smst@nnit.com

ABOUT NNIT

NNIT is a leading provider of IT solutions to life sciences internationally, and to the public and private sectors in Denmark.

We focus on high complexity industries and thrive in environments where regulatory demands and complexity are high.

We advise on and build sustainable digital solutions that work for the patients, citizens, employees, end users or customers.

We strive to build unmatched excellence in the industries we serve, and we use our domain expertise to represent a business first approach – strongly supported by a selection of partner technologies, but always driven by business needs rather than technology.

NNIT consists of group company NNIT A/S, subsidiaries in Region Europe, Asia and US and subsidiary SCALES in Region Denmark. Together, these companies employ more than 1,700 people in Europe, Asia and USA.

Attachments
- NNIT – Notice to convene AGM 2025
- Annex A – Board of Directors CV (UK)
The MIL Network –
February 20, 2025
MIL-OSI Video: The Minister of Finance, Mr Enoch Godongwana, delivers the 2025 Budget Speech

Source: Republic of South Africa (video statements)

The Minister of Finance, Mr Enoch Godongwana, delivers the 2025 Budget Speech

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

MIL OSI Video –

February 20, 2025
MIL-OSI United Kingdom: Four-year ban for director of Sussex nuisance cold-calls firm
Source: United Kingdom – Executive Government & Departments

The company made almost a million unsolicited cold-calls, resulting in people complaining to the Information Commissioner’s Office
Callum Jones was the director of a company which harassed people with nuisance cold-calls in 2019 and 2020

Colourcoat Ltd, based on the south coast, made almost a million calls trying to sell home improvements within an eight-month period

Jones has now been disqualified as a company director following investigations by the Insolvency Service

The boss of a home improvement company which made more than 900,000 cold-calls has been banned as a director for four years.

Callum Jones was the sole director of Sussex-based Colourcoat Ltd, which specialised in roof cleaning, wall coating and insulation services.

Colourcoat made 969,273 unsolicited marketing calls which connected between August 2019 and April 2020, with almost half to people who had opted out of receiving such calls.

The company also used false names and made repeated calls which were described by some customers as being aggressive and abusive.

Colourcoat was fined £130,000 by the Information Commissioner’s Office (ICO) in 2021 but went into liquidation without paying the fine in full.

Jones, 39, of Oban Road, St Leonards-on-Sea, has now been disqualified as a company director following investigations by the Insolvency Service.

Victoria Edgar, Chief Investigator at the Insolvency Service, said:

Callum Jones allowed his company to plague households over an eight-month period, making hundreds of thousands of nuisance cold-calls.

Businesses employing such unscrupulous tactics can expect enforcement action to be taken against them and Jones’s director ban now means he cannot run or manage any company for the next four years.

A total of 452,811 of the nuisance calls were made to people who had opted out of receiving such calls by registering with the Telephone Preference Service.

Colourcoat also used various fake company names including “Homes Advice Bureau”, “EcoSolve UK” and “Citizens Advice”.

Twenty-four complaints about the company were made to the Telephone Preference Service with a further 10 directly to the ICO.

Andy Curry, Director of Enforcement and Investigations at the ICO, said:

We welcome the decision to disqualify Callum Jones as the director of Colourcoat Ltd.

Nobody should be made to feel uncomfortable after simply answering the phone, and our investigation found that this company had no regard for the law, or the people they were illegally calling.

Our Financial Recovery Unit works closely with the Insolvency Service to bring companies and directors to account. By disrupting the non-compliant activities of directors such as Callum Jones, we can help ensure they can’t easily resurface under a different name and continue to cause further harm to people.

The ICO issued an enforcement notice to Colourcoat in June 2021 for breaching regulations 21 and 24 of the Privacy and Electronic Communications Regulations 2003 relating to the use of calls for direct marketing purposes.

Colourcoat went into liquidation in June 2023, having only paid just more than £74,000 of its £130,000 fine.

The Secretary of State for Business and Trade accepted a disqualification undertaking from Jones, and his ban started on Monday 3 February.

The undertaking prevents him from being involved in the promotion, formation or management of a company, without the permission of the court. 

Further information

Callum Jones is of Oban Road, St Leonards-on-Sea, East Sussex. His date of birth is 2 January 1986

Colourcoat Ltd (company number 10405998)

Individuals subject to a disqualification order or undertaking are bound by a range of restrictions

Further information about the work of the Insolvency Service, and how to complain about financial misconduct.

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Updates to this page

Published 19 February 2025
MIL OSI United Kingdom –
February 20, 2025
MIL-OSI: Hyperscale Data Subsidiary Reaches Agreement in Principle with Key Utility to Expand Michigan Data Center to 300 Megawatts, which Would Allow the Company to Advance its AI Infrastructure Growth

Source: GlobeNewswire (MIL-OSI)

LAS VEGAS, Feb. 19, 2025 (GLOBE NEWSWIRE) — Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), today announced that its indirect, wholly owned subsidiary Alliance Cloud Services, LLC (“ACS”) has reached an agreement in principle with the local utility expected to energize ACS’ Michigan data center (the “Data Center”), enabling ACS to increase its power capacity from approximately 30 megawatts (“MW”) to 300 MW. The completion of the power upgrade is anticipated to take 44 months from execution of a formal Letter of Authorization (the “LOA”) between ACS and the utility, which is currently being negotiated.

The expansion of the Data Center to 300 MW will be a critical long-term milestone, which would enable ACS to increase its expansion efforts and further support the rapidly growing demand for high-performance computing (“HPC”) services powering artificial intelligence (“AI”) infrastructure. Hyperscale Data is simultaneously proceeding with the transition of the Data Center’s existing power capacity of 30MW from that of self-mining of Bitcoin to HPC services. As a part of negotiating the LOA, Hyperscale Data anticipates discussing potential approaches that could provide incremental power while the full buildout project is underway. Hyperscale Data is currently in the process of deploying the network, electrical and cooling systems for its first HPC environment. As Hyperscale Data moves forward in the coming months with both its short-term transition to HPC services and its power upgrade expansion process it will provide ongoing updates to its stockholders and the public as developments warrant.

Milton “Todd” Ault III, Executive Chairman of Hyperscale Data, commented, “We are pleased to have finally reached an agreement in principle with the local utility and look forward to executing a definitive agreement with it. This would be a game-changer for our business and the future of our AI infrastructure. Scaling our Data Center to 300 MW would significantly enhance our ability to meet surging demand from AI and high-performance computing customers. It also marks a major step forward in our transformation into a pure-play data center operator. We are committed to building a world-class facility that powers the next generation of technology, and this anticipated expansion is a significant step forward to meeting that objective.”

The completion of the power upgrade is subject to a number of risks and uncertainties, one or more which could result in the project being terminated, including, but not limited to: failure to agree upon terms and execute a definitive agreement; the inability of ACS or the Company to raise sufficient funds to pay for the power upgrades; failure to obtain regulatory consents and approvals; the inability to obtain sufficient easements, rights-of-way and land rights necessary to the work to be performed, and other presently unforeseen events or conditions.

Additional information regarding the material terms of the LOA will be included in a Current Report on Form 8-K to be filed with the United States Securities and Exchange Commission (“SEC”).

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such jurisdiction.

For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

About Hyperscale Data, Inc.

Hyperscale Data is transitioning from a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact to becoming solely an owner and operator of data centers to support high performance computing services. Through its wholly and majority-owned subsidiaries and strategic investments, Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging artificial intelligence ecosystems and other industries. It also provides, through its wholly owned subsidiary, Ault Capital Group, Inc., mission-critical products that support a diverse range of industries, including an artificial intelligence software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, Hyperscale Data is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.hyperscaledata.com.

Hyperscale Data Investor Contact:
IR@hyperscaledata.com or 1-888-753-2235

The MIL Network –

February 20, 2025
MIL-OSI Europe: Federal Council adopts dispatch on extending international automatic exchange of information in tax matters

Source: Switzerland – Department of Finance

During its meeting on 19 February 2025, the Federal Council submitted to Parliament the dispatch on extending the international automatic exchange of information in tax matters (AEOI). Set to apply from 1 January 2026, the extension concerns the new AEOI concerning cryptoassets and the amendment of the standard for the automatic exchange of financial account information.

MIL OSI Europe News –

February 20, 2025

MIL-OSI: YieldMax™ ETFs Announces Distributions on CRSH (75.93%), TSLY (62.77%), YBIT (60.33%), YMAX (56.92%), YMAG (39.10%) and Others

Source: GlobeNewswire (MIL-OSI)

CHICAGO and MILWAUKEE and NEW YORK, Feb. 19, 2025 (GLOBE NEWSWIRE) — YieldMax™ today announced distributions for the YieldMax™ Weekly Payers and Group A ETFs listed in the table below.

ETF Ticker¹	ETF Name	Distribution Frequency	Distribution per share	Distribution Rate^2,4	30-Day SEC Yield³	ROC⁵	Ex-Date & Record Date	Payment Date
QDTY*	YieldMax™ Nasdaq 100 0DTE Covered Call ETF	*Weekly*	–	–	–	–	–	–
SDTY	YieldMax™ S&P 500 0DTE Covered Call ETF	*Weekly*	$0.2221	–	–	100.00%	2/20/25	2/21/25
GPTY	YieldMax™ AI & Tech Portfolio Option Income ETF	*Weekly*	$0.3258	–	–	100.00%	2/20/25	2/21/25
LFGY	YieldMax™ Crypto Industry & Tech Portfolio Option Income ETF	*Weekly*	$0.5739	–	–	58.86%	2/20/25	2/21/25
YMAX	YieldMax™ Universe Fund of Option Income ETFs	*Weekly*	$0.1852	56.92%	77.11%	72.51%	2/20/25	2/21/25
YMAG	YieldMax™ Magnificent 7 Fund of Option Income ETFs	*Weekly*	$0.1369	39.10%	56.75%	39.02%	2/20/25	2/21/25
TSLY	YieldMax™ TSLA Option Income Strategy ETF	Every 4 weeks	$0.5793	62.77%	3.18%	93.03%	2/20/25	2/21/25
CRSH	YieldMax™ Short TSLA Option Income Strategy ETF	Every 4 weeks	$0.3810	75.93%	4.07%	12.68%	2/20/25	2/21/25
GOOY	YieldMax™ GOOGL Option Income Strategy ETF	Every 4 weeks	$0.3877	35.28%	3.33%	0.00%	2/20/25	2/21/25
YBIT	YieldMax™ Bitcoin Option Income Strategy ETF	Every 4 weeks	$0.5506	60.33%	1.36%	0.00%	2/20/25	2/21/25
OARK	YieldMax™ Innovation Option Income Strategy ETF	Every 4 weeks	$0.4269	50.34%	2.58%	93.84%	2/20/25	2/21/25
XOMO	YieldMax™ XOM Option Income Strategy ETF	Every 4 weeks	$0.2541	22.58%	3.58%	0.00%	2/20/25	2/21/25
SNOY	YieldMax™ SNOW Option Income Strategy ETF	Every 4 weeks	$0.9210	58.84%	2.58%	89.86%	2/20/25	2/21/25
TSMY	YieldMax™ TSM Option Income Strategy ETF	Every 4 weeks	$0.6019	42.89%	3.12%	47.33%	2/20/25	2/21/25
FEAT	YieldMax™ Dorsey Wright Featured 5 Income ETF	Every 4 weeks	$1.9096	53.80%	102.37%	0.00%	2/20/25	2/21/25
FIVY	YieldMax™ Dorsey Wright Hybrid 5 Income ETF	Every 4 weeks	$1.1203	31.12%	55.88%	0.00%	2/20/25	2/21/25
Weekly Payers & Group B ETFs scheduled for next week: QDTY SDTY GPTY LFGY YMAX YMAG NVDY DIPS FBY GDXY BABO JPMO MRNY PLTY MARO

Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted above. Performance current to the most recent month-end can be obtained by calling (833) 378-0717.

Note: DIPS, FIAT, CRSH and YQQQ are hereinafter referred to as the “Short ETFs”.

Distributions are not guaranteed. The Distribution Rate and 30-Day SEC Yield are not indicative of future distributions, if any, on the ETFs. In particular, future distributions on any ETF may differ significantly from its Distribution Rate or 30-Day SEC Yield. You are not guaranteed a distribution under the ETFs. Distributions for the ETFs (if any) are variable and may vary significantly from period to period and may be zero. Accordingly, the Distribution Rate and 30-Day SEC Yield will change over time, and such change may be significant.

Investors in the Funds will not have rights to receive dividends or other distributions with respect to the underlying reference asset(s).

*The inception date for QDTY is February 12, 2025.

¹All YieldMax™ ETFs shown in the table above (except YMAX, YMAG, FEAT, FIVY and ULTY) have a gross expense ratio of 0.99%. YMAX, YMAG and FEAT have a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.99% for a gross expense ratio of 1.28%. FIVY has a Management Fee of 0.29% and Acquired Fund Fees and Expenses of 0.59% for a gross expense ratio of 0.88%. “Acquired Fund Fees and Expenses” are indirect fees and expenses that the Fund incurs from investing in the shares of other investment companies, namely other YieldMax™ ETFs. ULTY has a gross expense ratio of 1.24% but the investment adviser has agreed to a 0.10% fee waiver through at least February 28, 2025.

²The Distribution Rate shown is as of close on February 18, 2025. The Distribution Rate is the annual distribution rate an investor would receive if the most recent distribution, which includes option income, remained the same going forward. The Distribution Rate is calculated by annualizing an ETF’s Distribution per Share and dividing such annualized amount by the ETF’s most recent NAV. The Distribution Rate represents a single distribution from the ETF and does not represent its total return. Distributions may also include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease an ETF’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment. These Distribution Rates may be caused by unusually favorable market conditions and may not be sustainable. Such conditions may not continue to exist and there should be no expectation that this performance may be repeated in the future.

³ The 30-Day SEC Yield represents net investment income, which excludes option income, earned by such ETF over the 30-Day period ended January 31, 2025, expressed as an annual percentage rate based on such ETF’s share price at the end of the 30-Day period.

⁴ Each ETF’s strategy (except those of the Short ETFs) will cap potential gains if its reference asset’s shares increase in value, yet subjects an investor to all potential losses if the reference asset’s shares decrease in value. Such potential losses may not be offset by income received by the ETF. Each Short ETF’s strategy will cap potential gains if its reference asset decreases in value, yet subjects an investor to all potential losses if the reference asset increases in value. Such potential losses may not be offset by income received by the ETF.

⁵ROC refers to Return of Capital. The ROC percentage is the portion of the distribution that represents an investor’s original investment.

Each Fund has a limited operating history and while each Fund’s objective is to provide current income, there is no guarantee the Fund will make a distribution. Distributions are likely to vary greatly in amount.

Standardized Performance

For YMAX, click here. For YMAG, click here. For TSLY, click here. For OARK, click here. For APLY, click here. For NVDY, click here. For AMZY, click here. For FBY, click here. For GOOY, click here. For NFLY, click here. For CONY, click here. For MSFO, click here. For DISO, click here. For XOMO, click here. For JPMO, click here. For AMDY, click here. For PYPY, click here. For SQY, click here. For MRNY, click here. For AIYY, click here. For MSTY, click here. For ULTY, click here. For YBIT, click here. For CRSH, click here. For GDXY, click here. For SNOY, click here. For ABNY, click here. For FIAT, click here. For DIPS, click here. For BABO, click here. For YQQQ, click here. For TSMY, click here. For SMCY, click here. For PLTY, click here. For BIGY, click here. For SOXY, click here. For MARO, click here. For FEAT, click here. For FIVY, click here. For LFGY, click here. For GPTY, click here. For CVNY, click here. For SDTY, click here. For QDTY, click here.

Important Information

This material must be preceded or accompanied by the prospectus. For all prospectuses, click here.

Contact Gavin Filmore at gfilmore@tidalfg.com for more information.

Tidal Financial Group is the adviser for all YieldMax™ ETFs.

THE FUND, TRUST, AND ADVISER ARE NOT AFFILIATED WITH ANY UNDERLYING REFERENCE ASSET.

Risk Disclosures (applicable to all YieldMax ETFs referenced above, except the Short ETFs)

YMAX, YMAG, FEAT and FIVY generally invest in other YieldMax™ ETFs. As such, these two Funds are subject to the risks listed in this section, which apply to all the YieldMax™ ETFs they may hold from time to time.

Investing involves risk. Principal loss is possible.

Call Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s call writing strategy will impact the extent that the Fund participates in the positive price returns of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold call options and over longer periods.

Counterparty Risk. The Fund is subject to counterparty risk by virtue of its investments in options contracts. Transactions in some types of derivatives, including options, are required to be centrally cleared (“cleared derivatives”). In a transaction involving cleared derivatives, the Fund’s counterparty is a clearing house rather than a bank or broker. Since the Fund is not a member of clearing houses and only members of a clearing house (“clearing members”) can participate directly in the clearing house, the Fund will hold cleared derivatives through accounts at clearing members.

Derivatives Risk. Derivatives are financial instruments that derive value from the underlying reference asset or assets, such as stocks, bonds, or funds (including ETFs), interest rates or indexes. The Fund’s investments in derivatives may pose risks in addition to, and greater than, those associated with directly investing in securities or other ordinary investments, including risk related to the market, imperfect correlation with underlying investments or the Fund’s other portfolio holdings, higher price volatility, lack of availability, counterparty risk, liquidity, valuation and legal restrictions.

Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

Distribution Risk. As part of the Fund’s investment objective, the Fund seeks to provide current income. There is no assurance that the Fund will make a distribution in any given period. If the Fund does make distributions, the amounts of such distributions will likely vary greatly from one distribution to the next.

High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings. A high portfolio turnover rate increases transaction costs, which may increase the Fund’s expenses.

Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

Non-Diversification Risk. Because the Fund is “non-diversified,” it may invest a greater percentage of its assets in the securities of a single issuer or a smaller number of issuers than if it was a diversified fund.

New Fund Risk. The Fund is a recently organized management investment company with no operating history. As a result, prospective investors do not have a track record or history on which to base their investment decisions.

Price Participation Risk. The Fund employs an investment strategy that includes the sale of call option contracts, which limits the degree to which the Fund will participate in increases in value experienced by the underlying reference asset over the Call Period.

Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, which focuses on an individual security (ARKK, TSLA, AAPL, NVDA, AMZN, META, GOOGL, NFLX, COIN, MSFT, DIS, XOM, JPM, AMD, PYPL, SQ, MRNA, AI, MSTR, Bitcoin ETP, GDX®, SNOW, ABNB, BABA, TSM, SMCI, PLTR, MARA, CVNA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

Inflation Risk. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the present value of the Fund’s assets and distributions, if any, may decline.

Indirect Investment Risk. The Index is not affiliated with the Trust, the Fund, the Adviser, or their respective affiliates and is not involved with this offering in any way.

Risk Disclosures (applicable only to GPTY)

Artificial Intelligence Risk. Issuers engaged in artificial intelligence typically have high research and capital expenditures and, as a result, their profitability can vary widely, if they are profitable at all. The space in which they are engaged is highly competitive and issuers’ products and services may become obsolete very quickly. These companies are heavily dependent on intellectual property rights and may be adversely affected by loss or impairment of those rights. The issuers are also subject to legal, regulatory and political changes that may have a large impact on their profitability. A failure in an issuer’s product or even questions about the safety of the product could be devastating to the issuer, especially if it is the marquee product of the issuer. It can be difficult to accurately capture what qualifies as an artificial intelligence company.

Technology Sector Risk. The Fund will invest substantially in companies in the information technology sector, and therefore the performance of the Fund could be negatively impacted by events affecting this sector. Market or economic factors impacting technology companies and companies that rely heavily on technological advances could have a significant effect on the value of the Fund’s investments. The value of stocks of information technology companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles, rapid product obsolescence, government regulation and competition, both domestically and internationally, including competition from foreign competitors with lower production costs. Stocks of information technology companies and companies that rely heavily on technology, especially those of smaller, less-seasoned companies, tend to be more volatile than the overall market. Information technology companies are heavily dependent on patent and intellectual property rights, the loss or impairment of which may adversely affect profitability.

Risk Disclosure (applicable only to MARO)

Digital Assets Risk: The Fund does not invest directly in Bitcoin or any other digital assets. The Fund does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. The Fund does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than the Fund. Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility.

Risk Disclosures (applicable only to BABO and TSMY)

Currency Risk: Indirect exposure to foreign currencies subjects the Fund to the risk that currencies will decline in value relative to the U.S. dollar. Currency rates in foreign countries may fluctuate significantly over short periods of time for a number of reasons, including changes in interest rates and the imposition of currency controls or other political developments in the U.S. or abroad.

Depositary Receipts Risk: The securities underlying BABO and TSMY are American Depositary Receipts (“ADRs”). Investment in ADRs may be less liquid than the underlying shares in their primary trading market.

Foreign Market and Trading Risk: The trading markets for many foreign securities are not as active as U.S. markets and may have less governmental regulation and oversight.

Foreign Securities Risk: Investments in securities of non-U.S. issuers involve certain risks that may not be present with investments in securities of U.S. issuers, such as risk of loss due to foreign currency fluctuations or to political or economic instability, as well as varying regulatory requirements applicable to investments in non-U.S. issuers. There may be less information publicly available about a non-U.S. issuer than a U.S. issuer. Non-U.S. issuers may also be subject to different regulatory, accounting, auditing, financial reporting and investor protection standards than U.S. issuers.

Risk Disclosures (applicable only to GDXY)

Risk of Investing in Foreign Securities. The Fund is exposed indirectly to the securities of foreign issuers selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies. Investments in the securities of foreign issuers involve risks beyond those associated with investments in U.S. securities.

Risk of Investing in Gold and Silver Mining Companies. The Fund is exposed indirectly to gold and silver mining companies selected by GDX®’s investment adviser, which subjects the Fund to the risks associated with such companies.

The Fund invests in options contracts based on the value of the VanEck Gold Miners ETF (GDX®), which subjects the Fund to some of the same risks as if it owned GDX®, as well as the risks associated with Canadian, Australian and Emerging Market Issuers, and Small-and Medium-Capitalization companies.

Risk Disclosures (applicable only to YBIT)

YBIT does not invest directly in Bitcoin or any other digital assets. YBIT does not invest directly in derivatives that track the performance of Bitcoin or any other digital assets. YBIT does not invest in or seek direct exposure to the current “spot” or cash price of Bitcoin. Investors seeking direct exposure to the price of Bitcoin should consider an investment other than YBIT.

Bitcoin Investment Risk: The Fund’s indirect investment in Bitcoin, through holdings in one or more Underlying ETPs, exposes it to the unique risks of this emerging innovation. Bitcoin’s price is highly volatile, and its market is influenced by the changing Bitcoin network, fluctuating acceptance levels, and unpredictable usage trends.

Digital Assets Risk: Digital assets like Bitcoin, designed as mediums of exchange, are still an emerging asset class. They operate independently of any central authority or government backing and are subject to regulatory changes and extreme price volatility. Potentially No 1940 Act Protections. As of the date of this Prospectus, there is only a single eligible Underlying ETP, and it is an investment company subject to the 1940 Act.

Bitcoin ETP Risk: The Fund invests in options contracts that are based on the value of the Bitcoin ETP. This subjects the Fund to certain of the same risks as if it owned shares of the Bitcoin ETP, even though it does not. Bitcoin ETPs are subject, but not limited, to significant risk and heightened volatility. An investor in a Bitcoin ETP may lose their entire investment. Bitcoin ETPs are not suitable for all investors. In addition, not all Bitcoin ETPs are registered under the Investment Company Act of 1940. Those Bitcoin ETPs that are not registered under such statute are therefore not subject to the same regulations as exchange traded products that are so registered.

Risk Disclosures (applicable only to the Short ETFs)

Investing involves risk. Principal loss is possible.

Price Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the value of the underlying reference asset. This strategy subjects the Fund to certain of the same risks as if it shorted the underlying reference asset, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the value of the underlying reference asset, the Fund is subject to the risk that the value of the underlying reference asset increases. If the value of the underlying reference asset increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses.

Put Writing Strategy Risk. The path dependency (i.e., the continued use) of the Fund’s put writing (selling) strategy will impact the extent that the Fund participates in decreases in the value of the underlying reference asset and, in turn, the Fund’s returns, both during the term of the sold put options and over longer periods.

Purchased OTM Call Options Risk. The Fund’s strategy is subject to potential losses if the underlying reference asset increases in value, which may not be offset by the purchase of out-of-the-money (OTM) call options. The Fund purchases OTM calls to seek to manage (cap) the Fund’s potential losses from the Fund’s short exposure to the underlying reference asset if it appreciates significantly in value. However, the OTM call options will cap the Fund’s losses only to the extent that the value of the underlying reference asset increases to a level that is at or above the strike level of the purchased OTM call options. Any increase in the value of the underlying reference asset to a level that is below the strike level of the purchased OTM call options will result in a corresponding loss for the Fund. For example, if the OTM call options have a strike level that is approximately 100% above the then-current value of the underlying reference asset at the time of the call option purchase, and the value of the underlying reference asset increases by at least 100% during the term of the purchased OTM call options, the Fund will lose all its value. Since the Fund bears the costs of purchasing the OTM calls, such costs will decrease the Fund’s value and/or any income otherwise generated by the Fund’s investment strategy.

Options Contracts. The use of options contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of options are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying reference asset, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political, changes in the actual or implied volatility or the reference asset, the time remaining until the expiration of the option contract and economic events.

High Portfolio Turnover Risk. The Fund may actively and frequently trade all or a significant portion of the Fund’s holdings.

Liquidity Risk. Some securities held by the Fund, including options contracts, may be difficult to sell or be illiquid, particularly during times of market turmoil.

Price Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will participate in decreases in value experienced by the underlying reference asset over the Put Period.

Single Issuer Risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally. The value of the Fund, for any Fund that focuses on an individual security (e.g., TSLA, COIN, NVDA), may be more volatile than a traditional pooled investment or the market as a whole and may perform differently from the value of a traditional pooled investment or the market as a whole.

Risk Disclosures (applicable only to YQQQ)

Index Overview. The Nasdaq 100 Index is a benchmark index that includes 100 of the largest non-financial companies listed on the Nasdaq Stock Market, based on market capitalization.

Index Level Appreciation Risk. As part of the Fund’s synthetic covered put strategy, the Fund purchases and sells call and put option contracts that are based on the Index level. This strategy subjects the Fund to certain of the same risks as if it shorted the Index, even though it does not. By virtue of the Fund’s indirect inverse exposure to changes in the Index level, the Fund is subject to the risk that the Index level increases. If the Index level increases, the Fund will likely lose value and, as a result, the Fund may suffer significant losses. The Fund may also be subject to the following risks: innovation and technological advancement; strong market presence of Index constituent companies; adaptability to global market trends; and resilience and recovery potential.

Index Level Participation Risk. The Fund employs an investment strategy that includes the sale of put option contracts, which limits the degree to which the Fund will benefit from decreases in the Index level experienced over the Put Period. This means that if the Index level experiences a decrease in value below the strike level of the sold put options during a Put Period, the Fund will likely not experience that increase to the same extent and any Fund gains may significantly differ from the level of the Index losses over the Put Period. Additionally, because the Fund is limited in the degree to which it will participate in decreases in value experienced by the Index level over each Put Period, but has significant negative exposure to any increases in value experienced by the Index level over the Put Period, the NAV of the Fund may decrease over any given period. The Fund’s NAV is dependent on the value of each options portfolio, which is based principally upon the inverse of the performance of the Index level. The Fund’s ability to benefit from the Index level decreases will depend on prevailing market conditions, especially market volatility, at the time the Fund enters into the sold put option contracts and will vary from Put Period to Put Period. The value of the options contracts is affected by changes in the value and dividend rates of component companies that comprise the Index, changes in interest rates, changes in the actual or perceived volatility of the Index and the remaining time to the options’ expiration, as well as trading conditions in the options market. As the Index level changes and time moves towards the expiration of each Put Period, the value of the options contracts, and therefore the Fund’s NAV, will change. However, it is not expected for the Fund’s NAV to directly inversely correlate on a day-to-day basis with the returns of the Index level. The amount of time remaining until the options contract’s expiration date affects the impact that the value of the options contracts has on the Fund’s NAV, which may not be in full effect until the expiration date of the Fund’s options contracts. Therefore, while changes in the Index level will result in changes to the Fund’s NAV, the Fund generally anticipates that the rate of change in the Fund’s NAV will be different than the inverse of the changes experienced by the Index level.

YieldMax™ ETFs are distributed by Foreside Fund Services, LLC. Foreside is not affiliated with Tidal Financial Group, YieldMax™ ETFs.

The MIL Network –

February 20, 2025

MIL-OSI United Kingdom: Additional funding for Council’s digital inclusion programme.

Source: City of Coventry

Coventry City Council’s efforts to promote digital inclusion across the city have received a major funding boost.

The Council’s digital inclusion programme, #CovConnects, has received £340,000 to support its ongoing work within in the city.

The funding, which comes from the Government’s UK Shared Prosperity Fund and the West Midlands Combined Authority, will help the team secure 1250 Mi-Fi units which will be distributed through the programme’s #CovConnects Device Bank.

Mi-fi units are small, portable devices which allow people to use 4g/5g units to connect to the internet. Each of the units comes with 2 years’ worth of unlimited data enabling residents to connect to the digital world. The mi-fi devices and sim cards have been provided thanks to the Council’s ongoing partnership with Vodafone.

The Device Bank launched in July 2023 and has distributed over 3850 devices to organisations across the city. These devices are used by these groups to help support residents in their everyday lives allowing the most vulnerable in the city to complete everyday task such as online banking, filling our job applications and accessing vital NHS services.

Cllr Richard Brown, Cabinet Member for Strategic Finance and Resources, said: “As an organisation, we’re committed to ensuring that as many residents as possible can access the digital world. This funding will help us do just that.

“It will allow us to expand our efforts and get more of these devices into the hands of those who need it most. Having your own device, which you can use every day, is something that has the potential to completely transform your life. “

Richard Parker, the Mayor of the West Midlands, said: “So much in life is reliant on us being online, whether that’s finding a job, booking a GP appointment, or managing finances. Too many people are still locked out of opportunities because they don’t have reliable internet or the right digital skills and this can be isolating. It’s why I want more people to have the digital access they need to get on in life. This scheme is a step towards breaking down those barriers, helping more people access the services, support, and training they need to build a better future.”

The #CovConnects Device Bank is part funded by the UK Government through the UK Shared Prosperity Fund.

To find out more about the device bank and applying for devices for your organisation, visit: #CovConnects Device Bank – Coventry City Council

The UK Shared Prosperity Fund aims to improve pride in place and increase life chances across the UK investing in communities and place, supporting local business, and people and skills. Please visit the UK Shared Prosperity Fund webpage for more information

Get in touch with us to find out more about the digital inclusion programme in Coventry, devices, data and skills provisions we can help with: covconnectsdigital@coventry.gov.uk

MIL OSI United Kingdom –

February 20, 2025
MIL-OSI: HighPeak Energy, Inc. Announces 2024 Fourth Quarter and Yearend Earnings Release and Conference Call Dates

Source: GlobeNewswire (MIL-OSI)

FORT WORTH, Texas, Feb. 19, 2025 (GLOBE NEWSWIRE) — HighPeak Energy, Inc. (NASDAQ: HPK) (“HighPeak Energy”), today announced that it plans to release its 2024 fourth quarter and yearend financial and operating results after the close of trading on Monday, March 10, 2025.

HighPeak Energy will host a conference call and webcast on Tuesday, March 11, 2025 at 10:00 a.m. Central Time for investors and analysts to discuss its 2024 fourth quarter and yearend financial results and operational highlights. Participants may register for the call here. Access to the live audio-only webcast and replay of the earnings release conference call may be found here. A live broadcast of the earnings conference call will also be available on HighPeak Energy’s website at www.highpeakenergy.com under the “Investors” section of the website.

About HighPeak Energy, Inc.

HighPeak Energy is a publicly traded independent oil and natural gas company, headquartered in Fort Worth, Texas, focused on the acquisition, development, exploration and exploitation of oil and natural gas reserves in the Midland Basin in West Texas. For more information, please visit our website at www.highpeakenergy.com.

Investor Contact:

Ryan Hightower
Vice President, Business Development
817.850.9204
rhightower@highpeakenergy.com

Source: HighPeak Energy, Inc.

The MIL Network –

February 20, 2025

Sales Contact: Amplify ETFs 855-267-3837 info@amplifyetfs.com	Media Contact: Gregory FCA for Amplify ETFs Kerry Davis 610-228-2098 amplifyetfs@gregoryfca.com

Category: Finance

2025-28 O‘AHU GRAND JURY INDICTS FORMER NONPROFIT EXECUTIVE DIRECTOR FOR EMBEZZLING FUNDS

February 19, 2025

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