Category: GlobeNewswire

MIL-OSI: Landsbankinn hf.: 2024 financial results of Landsbankinn
Source: GlobeNewswire (MIL-OSI)
- Landsbankinn’s profit in 2024 was ISK 37.5 billion after taxes, as compared with ISK 33.2 billion the previous year.
- Return on equity (ROE) in 2024 was 12.1%, compared with 11.6% in 2023.
- Profit in the fourth quarter of 2024 was ISK 10.6 billion and return on equity 13.3%.
- The Board of Directors intends to propose that the Annual General Meeting approve a dividend payment in the amount of nearly ISK 19 billion for the year 2024, corresponding to around 50% of the year’s profit.
- Total taxes paid by the Bank, both income tax and a special tax on financial undertakings, amounted to ISK 17.2 billion.
- Operating expenses increase in line with price levels yet the Bank’s cost-income ratio has never been lower, or 32.4%.
- Lending grew by ISK 177 billion during the year, or 10.8%. Customer deposits increased by ISK 180 billion, or 17,2%, at the same time.
- Increased activity and new services contributed to growing commission income, with net fee and commission income increasing by 2.3%.
- Net interest margin as a ratio of average asset position was 2.7% in 2024 compared to 3.0% for 2023. The net interest margin of domestic households was 2.1%.
- Use of Landsbankinn’s app continued to grow and surveys show that users are very satisfied with it. Customers who invest their under Smart Savings in the app grew by 39% in 2024, meaning that around 59,000 customers now gain the best interest terms offered on a non-indexed account.
- Net credit impairment of financial assets was negative by ISK 2.8 billion, with ISK 2.7 billion thereof attributable to natural disaster on the Reykjanes peninsula.
- The capital ratio at year end was 24.3%. The Financial Supervisory Authority (FSA) of the Central Bank of Iceland sets Landsbankinn’s total capital requirement at 20.4%.
- Today, the Bank publishes detailed sustainability information, including calculation of the carbon footprint of its credit portfolio, which has decreased by 20% from the reference year, 2019.
- In 2024, 57.7% of the Bank’s new funding was green and a total of 61.3% of non-domestic funding is green.
- In September, the FSA published the results of its assessment, finding that Landsbankinn is eligible to control a qualifying holding in TM tryggingar hf. (TM). The conclusion of the Icelandic Competition Authority in the same case is pending.
- The Pillar III risk report for 2024 is published alongside the annual financial statements.
- Landsbankinn’s Annual & Sustainability Report will be published 13 February 2025.
 
Lilja Björk Einarsdóttir, CEO of Landsbankinn:

“Landsbankinn achieved all of its main objectives in 2024, whether related to customer service, financial performance or operations. Profit amounted to ISK 10.6 billion in the fourth quarter and ISK 37.5 billion for the full year. Annualised return on equity was 12.1%. The fourth quarter was one of the strongest in the Bank’s history.

The Bank’s strong performance is built on solid foundations. Over the past ten years, the Bank’s total assets have grown by ISK 1,083 billion and equity by ISK 74 billion, alongside total dividend payments to shareholders amounting to ISK 192 billion. Operating expenses have remained stable, the number of full-time positions has decreased in tandem with technological advancements and the ratio of operating expenses to average total assets – a common measure of bank efficiency – has never been lower. As a result, the Bank’s competitiveness and strength have increased, enabling it to better support value creation and investments. The net interest margin has declined between periods, and the Bank is positioned to offer more favourable terms while still maintaining acceptable profitability.

The Bank’s strong financial position benefits society by increasing lending capacity. Total loan growth for the year amounted to ISK 177 billion, with around 60% of this increase from corporate lending. Landsbankinn remains the largest lender to the construction industry and has maintained a strong position in lending to fisheries, despite intense competition from foreign financial institutions, which can offer better terms due to greater economies of scale and lower taxes. Our focus on improving services for small and medium-sized enterprises has yielded strong results and we see many opportunities in this market. Demand for the Bank’s mortgage loans exceeded expectations, clearly indicating that borrowers are seeking competitive terms, fast service, and high-quality customer support. When the fixed interest rate period ended for customers who had fixed rates when they were at their lowest, we personally called each one to offer advice and go over the available options.

The increase in lending is backed by strong financing, not least growing customer deposits, which increased by ISK 180 billion over the year. Competitive rates and first-rate digital services have played a key role in this development. Throughout the year, the number of customers using the Bank’s Smart Savings in the app grew by 39%, allowing them to benefit from the best available rates on unrestricted accounts. Currently, around 59,000 individuals use this simple and favourable savings solution. Funding on both international and domestic capital markets was also successful. A noteworthy milestone was the issuance of senior non-preferred bonds, the first-ever issuance of its kind by an Icelandic bank. The success of bond issuances confirms the Bank’s strong financial position, which was also reflected in an upgrade in its credit rating. We believe that all conditions are in place for further improvements in the credit rating over the coming 1-2 years.

The Bank’s net interest margin declined during the year, reflecting the lower interest rate environment and there was a slight decrease in net interest income. Fee and commission income grew, particularly due to strong performance in acquiring services, where the Bank has firmly established its position. In 2024, 757 new businesses joined our acquiring services, including several of the country’s largest retail companies. The payment acquiring service has expanded the Bank’s service offering, boosted customer satisfaction, and created new growth opportunities in the corporate market: Nearly 40% of businesses that joined the service had no prior banking relationship with us.

Similarly, the Bank’s acquisition of TM presents significant growth opportunities, both on the corporate and retail side. We believe that the integration of banking and insurance services will be beneficial for customers, cost-efficient and full of potential, as evidenced by the success of similar models across Europe. At the same time, the acquisition will diversify revenue streams and support long-term profitability. The Bank’s strategic focus in recent years, providing outstanding service across Iceland both on-site and through leading digital solutions, including a top-tier app, creates exciting opportunities for both the Bank and TM.

One of the most significant events on the Icelandic market last year was JBT’s acquisition of Marel. Landsbankinn has long held an indirect ownership stake in Marel through Eyrir Invest, dating back to Eyrir’s refinancing in 2009. The value of this stake in Eyrir has fluctuated significantly over the years, at times impacting the Bank’s financial results considerably. Overall, the Bank’s involvement with Marel and Eyrir has been successful.

The vast majority of our customers use Landsbankinn’s app for their banking needs. The app is intuitive, offering unique features not available elsewhere and user satisfaction surveys indicate high approval. We are committed to continuous improvement, having released 33 app updates last year. Alongside our focus on development of the app and other digital innovation, we remain dedicated to the human element in customer service. We operate 35 branches and outlets across Iceland and this year we placed even greater emphasis on enabling employees all over the country to work on tasks that are not limited to geographic location. The results have been undeniably positive, reflected in shorter processing and wait times, as well as higher employee satisfaction, with staff appreciating the diverse and challenging work opportunities. Landsbankinn is a trusted bank for a successful future and its performance in recent years proves that with a dedicated and ambitious team, anything is possible.”

Landsbankinn’s financial calendar
- Annual General Meeting 19 March 2025
- Q1 2025 results 30 April 2025
- Q2 2025 results 17 July 2025
- Q3 2025 results 23 October 2025
- Annual results 2025 29 January 2026
For further information contact:

Public Relations, pr@landsbankinn.is

Investor Relations, ir@landsbankinn.is

Attachments

The MIL Network –
January 31, 2025

MIL-OSI: Cegedim’s revenue grew 6.3% in 2024

Source: GlobeNewswire (MIL-OSI)


PRESS RELEASE

Quarterly financial information as of December 31, 2024
IFRS – Regulated information – Not audited

Cegedim’s revenue grew 6.3% in 2024

Full year revenue rose 4.7% like for like to €654.5 million
Fourth quarter revenue grew 5.9% like for like to €178.7 million
All operating divisions contributed to growth in the fourth quarter

Boulogne-Billancourt, France, January 30, 2025, after the market close

Revenue

	Fourth quarter				Change Q4 2024 / 2023
in millions of euros	2024	2023 reclassified⁽¹⁾	Reclassification⁽¹⁾	2023 Reported	Reported vs. reclassified⁽¹⁾	Like for like⁽²⁾⁽³⁾ vs. reclassified⁽¹⁾
Software & Services	80.1	75.7	(8.7)	84.4	+5.8%	+2.8%
Flow	27.0	24.2	(0.6)	24.8	+12.0%	+11.7%
Data & Marketing	38.4	35.8	0.0	35.8	+7.1%	+7.1%
BPO	21.2	19.6	0.0	19.6	+7.8%	+7.8%
Cloud & Support	12.0	11.3	+9.3	2.0	+6.2%	+6.2%
Cegedim	178.7	166.6	0.0	166.6	+7.2%	+5.9%

	Full year				Change FY 2024 / 2023
in millions of euros	2024	2023 reclassified⁽¹⁾	Reclassification⁽¹⁾	2023 Reported	Reported vs. reclassified⁽¹⁾	Like for like⁽2⁾⁽⁴⁾ vs. reclassified⁽¹⁾
Software & Services	307.8	302.3	(24.3)	326.6	+1.8%	(1.2)%
Flow	100.3	93.4	(2.5)	95.9	+7.3%	+7.2%
Data & Marketing	125.9	114.9	0.0	114.9	+9.6%	+9.6%
BPO	82.7	71.5	0.0	71.5	+15.8%	+15.8%
Cloud & Support	37.8	33.9	+26.8	7.1	+11.3%	+11.3%
Cegedim	654.5	616.0	0.0	616.0	+6.3%	+4.7%

Cegedim’s consolidated fourth quarter 2024 revenues rose to €178.7 million, up 7.2% as reported and 5.9% like for like⁽²⁾ compared with the same period in 2023. All operating divisions contributed to like for like growth in the fourth quarter.

Over the full year, revenues rose 6.3% as reported and 4.7% like for like compared with 2023. Marketing, health insurance, HR, and cloud businesses delivered the most solid growth over the full year. As expected, the Software & Services division felt the impact of comparisons with Ségur public health investment spending in 2023 and a slowdown in international sales because the Group decided to refocus its UK doctor software activities on Scotland, and then later decided to voluntarily place that business under administration.

Analysis of business trends by division

Software & Services

Software & Services	Fourth quarter		Change Q4 2024 / 2023		Full year		Change FY 2024 / 2023
in millions of euros	2024	2023 Reclassified⁽³⁾	Reported vs. reclassified⁽¹⁾	Like for like⁽²⁾ vs. reclassified⁽¹⁾	2024	2023 reclassified⁽¹⁾	Reported vs. reclassified⁽¹⁾	Like for like⁽²⁾ vs. reclassified⁽¹⁾
Cegedim Santé	21.3	18.1	+17.2%	+1.8%	80.2	76.5	+4.8%	(7.1)%
Insurance, HR, Pharmacies, and other services	47.2	44.9	+5.1%	+5.1%	176.7	173.3	+2.0%	+1.9%
International businesses	11.6	12.7	(8.2)%	(3.5)%	50.9	52.5	(3.0)%	(3.0)%
Software & Services	80.1	75.7	+5.8%	+2.8%	307.8	302.3	+1.8%	(1.2)%

Revenues at Cegedim Santé grew 17.2% as reported in the fourth quarter and 1.8% like for like. Reported growth over the full year came to 4.8%, but like-for-like revenues fell 7.1% due to the absence of Ségur public health investments, which generated revenue of €4.7 million in 2023. Reported growth includes Visiodent from March 1, 2024. The new subsidiary has already started marketing Group products like the Maiia appointment scheduling app and the Claude Bernard database to its clients, but those sales are not reflected in like-for-like growth.

Others French subsidiaries saw reported revenue growth of 5.1% in the fourth quarter and 2% over the full year (1.9% LFL; Phealing acquired in Q4 2023). Over both the fourth quarter and the full year, the division was propelled by growth at the insurance businesses, thanks to robust project-based sales, and by HR, which is still getting a boost from its client diversification strategy. On the other hand, sales to pharmacies were down substantially—as they were at some of the competitors. This was partly because equipment sales slowed after many pharmacies updated their equipment in 2023. In addition, the pharmacy software business took in more than €2 million in Ségur public health investment revenues in 2023, creating a tough comparison.

Internationally, revenues from software sales to UK doctors declined, as expected, following the Group’s decision early in the year to refocus the activity on Scotland. Unfortunately, the market proved too sluggish for this plan to succeed. On December 10, the Group decided to deconsolidate this subsidiary after announcing it would be voluntarily placed under administration. That move aggravated the drop in reported revenues in the fourth quarter, which came to 8.2%.

Flow	Fourth quarter		Change Q4 2024 / 2023		Full year		Change FY 2024 / 2023
in millions of euros	2024	2023 reclassified⁽¹⁾	Reported vs. reclassified⁽¹⁾	Like for like⁽²⁾ vs. reclassified⁽¹⁾	2024	2023 reclassified⁽¹⁾	Reported vs. reclassified⁽¹⁾	Like for like⁽²⁾ vs. reclassified⁽¹⁾
e-business	15.0	14.0	+7.1%	+6.7%	58.5	55.4	+5.6%	+5.3%
Third-party payer	12.0	10.2	+18.7%	+18.7%	41.8	38.0	+9.9%	+9.9%
Flow	27.0	24.2	+12.0%	+11.7%	100.3	93.4	+7.3%	+7.2%

Fourth-quarter growth in e-business, e-invoicing, and digitized data exchanges was 7.1%. The boost came from a rebound in Invoicing & Purchasing in France and a continued surge at the Healthcare Flow segment, which started early in the year, owing to dynamic new offerings for hospitals that are designed to make their drug purchasing secure. Growth over the full year was a solid 5.6%.

The digital data flow business dealing with reimbursement of healthcare payments in France (Third-party payer) experienced 18.7% growth in Q4. It was boosted by strong growth in demand for its fraud and long-term illness detection offerings. Over the full year, this trend more than offset the transfer of revenue attributable to the Allianz contract—now attributed to the BPO business—and allowed the unit to post growth of 9.9%.

Data & Marketing

Data & Marketing	Fourth quarter		Change Q4 2024 / 2023		Full year		Change FY 2024 / 2023
in millions of euros	2024	2023 reclassified⁽¹⁾	Reported vs. reclassified⁽¹⁾	Like for like⁽²⁾ vs. reclassified⁽¹⁾	2024	2023 reclassified⁽¹⁾	Reported vs. reclassified⁽¹⁾	Like for like⁽²⁾ vs. reclassified⁽¹⁾
Data	22.4	21.0	+6.3%	+6.3%	65.5	64.5	+1.6%	+1.6%
Marketing	16.0	14.8	+8.2%	+8.2%	60.4	50.4	+19.9%	+19.9%
Data & Marketing	38.4	35.8	+7.1%	+7.1%	125.9	114.9	+9.6%	+9.6%

Data businesses posted 6.3% yoy growth in the fourth quarter, cementing an improvement over the second half, particularly in France. Thanks to its strong presence on the ground and its agility in adapting to customer demands, the Data business has been able to post positive growth of 1.6% in 2024, following a remarkable year in 2023.

The Marketing segment had a solid fourth quarter, up 8.2%, and a record year, with growth of 19.9%. The performance showed the soundness of its phygital media strategy for pharmacies and was bolstered by special ad campaigns during the Olympics.

BPO	Fourth quarter		Change Q4 2024 / 2023		Full year		Change FY 2024 / 2023
in millions of euros	2024	2023 Reclassified⁽⁴⁾	Reported vs. reclassified⁽¹⁾	Like for like⁽²⁾ vs. reclassified⁽¹⁾	2024	2023 reclassified⁽¹⁾	Reported vs. reclassified⁽¹⁾	Like for like⁽²⁾ vs. reclassified
Insurance BPO	15.4	14.0	+9.9%	+9.9%	60.0	49.9	+20.2%	+20.2%
Business Services BPO	5.8	5.6	+2.8%	+2.8%	22.7	21.6	+5.5%	+5.5%
BPO	21.2	19.6	+7.8%	+7.8%	82.7	71.5	+15.8%	+15.8%

The Insurance BPO business grew by 9.9% over the fourth quarter, chiefly owing to its overflow business, which has been flourishing since the start of the year. Growth over the full year amounted to 20.2%, partly thanks to a favorable comparison stemming from the April 1, 2023, launch of the Allianz contract.

Business Services BPO (HR and digitalization) reported growth of 2.8% in the fourth quarter and 5.5% over the full year on the back of a popular compliance offering and new clients.

Cloud & Support

Cloud & Support

Fourth quarter

Change Q4 2024 / 2023

Full year

Change FY 2024 / 2023

in millions of euros

2024

2023

reclassified⁽¹⁾

Reported

vs. reclassified⁽¹⁾

Like for like⁽²⁾

vs. reclassified⁽¹⁾

2024

2023

reclassified⁽¹⁾

Reported

vs. reclassified⁽¹⁾

Like for like⁽²⁾

vs. reclassified⁽¹⁾

Cloud & Support

12.0

11.3

+6.2%

37.8

33.9

+11.3%

The Cloud & Support division’s trajectory continued over the fourth quarter, with growth of 6.2% bringing FY growth to 11.3%. The progress reflects our expanded range of sovereign cloud-backed products and services, which earned the ANSSI security visa for SecNumCloud certification.

Highlights

Apart from the items cited below, to the best of the company’s knowledge, there were no events or changes during Q4 2024 that would materially alter the Group’s financial situation.

On December 10, 2024, Cegedim announced that it had voluntarily placed its UK subsidiary—INPS, which sells software for doctors—under administration.

Significant transactions and events post December 31, 2024
To the best of the company’s knowledge, there were no post-closing events or changes after December 31, 2024, that would materially alter the Group’s financial situation.

Outlook

Like-for-like revenue growth(¹⁾ in 2024 was just below the bottom of the announced 5% to 8% range compared with 2023. Had the Group not refocused INPS on Scotland and then closed it later in the year, it would have met the 5% target. This performance is unlikely to jeopardize the outlook for recurring operating income, which is expected to continue improving.
That said, the deconsolidation of INPS is likely to result in significant non-cash adjustments.
These statements are not forecasts and are based on financial information that has not yet been audited.

—————

WEBCAST ON JANUARY 30, 2025 AT 6:15 PM (PARIS TIME)

The webcast is available at: www.cegedim.fr/webcast

The FY 2024 revenue presentation is available at:
https://www.cegedim.fr/documentation/Pages/presentation.aspx

Financial calendar:

2025

March 27 after the close

March 28 at 10:00 am

April 24 after the close

June 13 at 9:30

July 24 after the close

September 25 after the close

September 26 at 10:00 am

October 23 after the close

2024 results

SFAF meeting

Q1 2025 revenues

Shareholders’ general meeting

H1 2025 revenues

H1 2025 results

SFAF meeting

Q3 2025 revenues

Financial calendar: https://www.cegedim.fr/finance/agenda/Pages/default.aspx

Disclaimer
This press release is available in French and in English. In the event of any difference between the two versions, the original French version takes precedence. It was sent to Cegedim’s authorized distributor on January 30, 2025, no earlier than 5:45 pm Paris time.
The figures cited in this press release include guidance on Cegedim’s future financial performance targets. This forward-looking information is based on the opinions and assumptions of the Group’s senior management at the time this press release is issued and naturally entails risks and uncertainty. For more information on the risks facing Cegedim, please refer to Chapter 7, “Risk management”, section 7.2, “Risk factors and insurance”, and Chapter 3, “Overview of the financial year”, section 3.6, “Outlook”, of the 2023 Universal Registration Document filled with the AMF on April 3, 2024, under number D.24-0233.

About Cegedim:
Founded in 1969, Cegedim is an innovative technology and services group in the field of digital data flow management for healthcare ecosystems and B2B, and a business software publisher for healthcare and insurance professionals. Cegedim employs nearly
6,700 people in more than 10 countries and generated revenue of over €654 million in 2024.
Cegedim SA is listed in Paris (EURONEXT: CGM).
To learn more please visit: www.cegedim.fr
And follow Cegedim on X: @CegedimGroup, LinkedIn, and Facebook.

Aude Balleydier
Cegedim
Media Relations
and Communications Manager

Tel.: +33 (0)1 49 09 68 81
aude.balleydier@cegedim.fr

Damien Buffet
Cegedim
Head of Financial
Communication

Tel.: +33 (0)7 64 63 55 73
damien.buffet@cegedim.com

Céline Pardo
Becoming RP Agency
Media Relations Consultant

Tel.: +33 (0)6 52 08 13 66
cegedim@becoming-group.com

____________________________________________________________________________________________________________________________________________________

(1) At constant scope and exchange rates.

Annexes

Breakdown of revenue by quarter and division

in millions of euros	Q1	Q2	Q3		Q4	Total
Software & Services	74.3	77.8		75.6	80.1	307.8
Flow	25.4	24.2		23.7	27.0	100.3
Data & Marketing	27.0	32.3		28.2	38.4	125.9
BPO	20.2	19.7		21.6	21.2	82.7
Cloud & Support	9.0	9.1		7.7	12.0	37.8
Group revenue	155.9	163.1		156.8	178.7	654.5

in millions of euros	Q1 reclassified	Q2 reclassified	Q3 reclassified		Q4 reclassified	Total reclassified
Software & Services	74.4	76.2		76.0	75.7	302.3
Flow	24.0	22.8		22.4	24.2	93.4
Data & Marketing	24.6	30.3		24.1	35.8	114.9
BPO	14.4	18.4		19.0	19.6	71.5
Cloud & Support	8.4	7.4		6.8	11.3	33.9
Group revenue	145.9	155.1		148.3	166.6	616.0

Revenue breakdown by geographic zone, currency, and division at December 31, 2024

as a % of consolidated revenues	Geographic zone			Currency
as a % of consolidated revenues	France	EMEA ex. France	Americas	Euro	GBP	Other
Software & Services	83.5%	16.4%	0.1%	86.9%	11.4%	1.7%
Flow	92.1%	7.9%	0.0%	94.6%	5.4%	0.0%
Data & Marketing	97.9%	2.1%	0.0%	98.1%	0.0%	1.9%
BPO	100.0%	0.0%	0.0%	100.0%	0.0%	0.0%
Cloud & Support	99.9%	0.1%	0.0%	100.0%	0.0%	0.0%
Cegedim Health Data UK	90.6%	9.3%	0.1%	92.2%	6.6%	1.2%

(1)   As of January 1, 2024, our Cegedim Outsourcing and Audiprint subsidiaries—which were previously housed in the Software & Services division—as well as BSV—formerly of the Flow division—have been moved to the Cloud & Support division in order to capitalize on operating synergies between cloud activities and IT solutions integration.
(2)   At constant scope and exchange rates.
(3)   The positive currency impact of 0.2% was mainly due to the pound sterling. The positive scope effect of 1.1% was attributable to the first-time consolidation in Cegedim’s accounts of Visiodent starting March 1, 2024.
(4)   The positive currency impact of 0.2% was mainly due to the pound sterling. The positive scope effect of 1.4% was attributable to the first-time consolidation in Cegedim’s accounts of Visiodent starting March 1, 2024.

(1) 3To take advantage of synergies, Cegedim Outsourcing, Audiprint, and BSV have been reassigned to the Cloud & Support division.
(2) At constant scope and exchange rates.

(1) 4To take advantage of synergies, Cegedim Outsourcing, Audiprint, and BSV have been reassigned to the Cloud & Support division.
(2) At constant scope and exchange rates.

Attachment

Cegedim_Revenue_4Q2024_ENG

The MIL Network –

January 31, 2025

MIL-OSI: Intelligent Product Solutions Selected for New York Product Design Award for Its Work on the EON Laser

Source: GlobeNewswire (MIL-OSI)

HAUPPAUGE, N.Y., Jan. 30, 2025 (GLOBE NEWSWIRE) — Intelligent Product Solutions (IPS) today announced that it received a New York Product Design award, for its product design work on the EON Laser, a FDA-cleared, touch-free, and pain-free fat reduction device by Dominion Aesthetic Technologies. A global product design and development firm, Intelligent Product Solutions is a subsidiary of Forward Industries (NASDAQ: FORD).

The New York Product Design awards honor the efforts of talented product designers, design teams and manufacturers from all over the world. It recognizes the contributions they have made to daily living, with their practical and ingenious creations.

“At IPS, we’re proud to receive this award for our innovative medical device design of this revolutionary product,” said Bob Wild, CEO of Intelligent Product Solutions. “Working with Dominion Aesthetic Technologies, together we are redefining the future of aesthetic medicine, leveraging our expertise in product design.”

The EON Laser introduces revolutionary technology in subcutaneous fat reduction, offering patients the industry’s first touch-free and painless treatment option, delivering safer outcomes and eliminating recovery time. Utilizing laser energy, the EON Laser locally raises the temperature of subcutaneous fat, triggering lipolysis (the breakdown and metabolization of adipose tissue) while simultaneously cooling the skin, offering patients a pain-free alternative with unprecedented results. The scientifically proven EON Laser has received multiple FDA clearances and can be found at esthetic surgery centers and med-spas across the United States, offering patients a non-invasive alternative to liposuction and other surgical interventions.

“It’s such a wonderful surprise to learn that EON has be recognized for its beautiful design,” said Janet Campbell, founder and Chairman of the Board, Dominion Aesthetic Technologies. “It couldn’t have been possible without the support of Intelligent Product Solutions. We are excited about the future of EON delivering the first of its kind non-invasive robotic fat reduction treatments. EON is dedicated to providing incredible patient outcomes with the safest fat reducing treatment available.”

About Intelligent Product Solutions

Intelligent Product Solutions (IPS), a subsidiary of Forward Industries (NASDAQ: FORD), is an award-winning global product design and development company with headquarters in New York. IPS offers a full range of expert product design and engineering services, with an expertise in medtech and wearable technology solutions. Its clients are among the leading brands in consumer electronics and medical devices, including Neuvotion, Google, Verizon, Zebra Technologies and Steinway. To learn more about IPS, visit https://intelligentproduct.solutions or contact info@ips-yes.com. Visit IPS on social media:https://www.linkedin.com/company/intelligent-product-solutions/

For more media information, contact:
Lisa Hendrickson, LCH Communications for IPS
Lisa@lchcommunications.com
516-643-1642

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/658ffae2-c750-4b47-adef-8c928e2c65fc

The MIL Network –

January 31, 2025
MIL-OSI: First American Bank Welcomes Stephen Penney as New Associate Advisor

Source: GlobeNewswire (MIL-OSI)

MIAMI, Jan. 30, 2025 (GLOBE NEWSWIRE) — First American Bank is excited to announce the addition of Stephen Penney as the newest Associate Advisor to its team, furthering the bank’s efforts to build and grow its wealth management business in Florida. Stephen joins the bank from Deutsche Bank, bringing over 8 years of experience in the financial services industry. His deep expertise in wealth management, combined with a passion for client service, will be invaluable as the bank continues to expand its offerings and deliver personalized financial solutions to clients across the state.

In his own words, Stephen shared, “I joined First American Bank because of its strong family-owned foundation and commitment to client service. I’m excited to contribute to a growing institution with a clear vision for the future.”

As an Associate Advisor, Stephen will specialize in wealth planning, helping individuals, families, and businesses achieve their financial goals. He will leverage his extensive experience in financial services to craft tailored strategies that address clients’ unique needs.

About Stephen Penney
Stephen Penney is a wealth management professional with over 8 years of experience in the financial sector. Prior to joining First American Bank, Stephen served as a client associate at Deutsche Bank, where he provided exceptional support to top advisors and high-net-worth clients. He also held the role of Investment Specialist on Bank of America’s trade desk. Stephen holds an MBA from the University of Florida, is FINRA licensed, and is actively pursuing the CFA designation.

Outside of his professional life, Stephen enjoys sailing on Biscayne Bay, learning to play golf, and spending time with friends and family.

First American Bank investment products are not FDIC insured, not bank guaranteed, and may lose value.

Contact:
Teresa Lee
305-631-6400
tlee@firstambank.com

The MIL Network –

January 31, 2025
MIL-OSI: Willis appoints Pat Donnelly as Head of Risk & Broking, North America

Source: GlobeNewswire (MIL-OSI)

NEW YORK, Jan. 30, 2025 (GLOBE NEWSWIRE) — Willis, a WTW business, (NASDAQ: WTW), today announced the appointment of Pat Donnelly as the new Head of Risk & Broking (R&B), North America, reporting to Lucy Clarke, President, R&B.

Donnelly, a highly respected and accomplished leader in the insurance and risk management industry, brings a wealth of experience having held various leadership roles at Marsh, JLT and Aon.

Most recently, he has served as President, Specialty & Global Placement at Marsh. Donnelly joined Marsh as part of the acquisition of JLT. His other Marsh experience includes President, Marsh U.S. and Canada, overseeing the company’s insurance broking and risk advisory businesses across North America.

Earlier in his career, Donnelly was the CEO of JLT Specialty in North America, where he successfully built the company’s U.S. retail business. His extensive background also includes a significant tenure at Aon, where he held the position of Chief Broking Officer for U.S. Retail.

Lucy Clarke, President, Risk & Broking, commented:

“We are so excited to welcome Pat as the new Head of Risk & Broking for North America. Pat is one of the leading figures in our industry globally, widely respected as a committed, inspirational and thoughtful leader by clients, carriers and colleagues. His experience makes him the perfect fit for this critical role.

“His leadership will be instrumental in driving growth, continuing and strengthening our specialist approach and ensuring that we deliver exceptional service and value to our clients.”

Donnelly will be based in Chicago and is expected to join WTW in the second quarter of 2025.

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.

Learn more at wtwco.com.

Media contacts

Miles Russell +44 7903262118

Miles.russell@wtwco.com

The MIL Network –

January 31, 2025
MIL-OSI: Order.co Wins the ‘Winter 2025 Leader’ Award from SourceForge

Source: GlobeNewswire (MIL-OSI)

NEW YORK, Jan. 30, 2025 (GLOBE NEWSWIRE) — Order.co, a B2B ecommerce platform that simplifies purchasing, today announced that it has been awarded the ‘Winter 2025 Leader’ Award in the Procurement and AP Automation categories by SourceForge, the world’s largest software review and comparison website.

“It’s my pleasure to award the ‘Winter 2025 Leaders’ on SourceForge,” said SourceForge President, Logan Abbott. “Order.co has been named a Leader this Winter in the Procurement and AP Automation categories, and their high volume of outstanding user reviews on SourceForge is a testament to the excellent solution they provide to their customers.”

The SourceForge Winter 2025 winners attained enough high ratings to place them in the top 5% of favorably reviewed products out of the 100,000 on SourceForge. Order.co boasts over 140 ratings on SourceForge from satisfied customers, with many sharing their excitement about the platform’s “easy, streamlined ordering.” Key features like consolidated monthly invoices with net terms, seamless GL coding, and real-time budget tracking have driven Order.co’s stellar customer reviews.

“We are proud to be recognized as a Winter 2025 Leader by SourceForge,” said Zach Garippa, CEO & Co-Founder of Order.co. “This award is especially meaningful to us because it comes directly from our customers. This recognition is a reflection of their experience using our product to solve their toughest procurement and accounts payable problems, and we’re incredibly grateful for their trust and partnership. We look forward to continuing to innovate and deliver value.”

About Order.co

Order.co is a procurement and accounts payable automation software that helps businesses cut costs and complexity with every order. Hundreds of companies, like WeWork and Hugo Boss, leverage Order.co to centralize purchase-to-pay workflows, scale operations, gain total control over spending, and save an average of 5% on products.

Founded in 2016 and headquartered in New York City, Order.co has raised $50M in funding from industry-leading investors like MIT, Stage 2 Capital, Rally Ventures, 645 Ventures, and more.

About SourceForge

SourceForge.net is the world’s largest software comparison directory, serving nearly 20 million users every month and featuring user reviews, product comparisons, software guides, and more. SourceForge’s mission is to help businesses find the best software to fit their needs and their budget.

Media Contact

Allison Reich
Senior Manager of Brand, Content & Enablement
Allison.reich@order.co

The MIL Network –

January 31, 2025

MIL-OSI: ProVen Growth and Income VCT plc: Interim Management Statement

Source: GlobeNewswire (MIL-OSI)

ProVen Growth and Income VCT plc
Interim Management Statement
for the nine months ended 30 November 2024

ProVen Growth and Income VCT plc (the “Company”) presents an Interim Management Statement for the nine-month period ended 30 November 2024. The statement also includes relevant financial information between the end of the period and the date of this announcement.

Performance

	Unaudited 30-Nov 2024	Unaudited 31-Aug 2024	Unaudited 31 May 2024	Audited 29-Feb 2024
	Pence	Pence	Pence	Pence
Net Asset Value per share (“NAV”)	51.7	51.5	54.7	54.7
Dividends paid since class launch (originally as ‘C’ Shares)*	79.90	79.90	78.40	78.40
Total Return (NAV plus dividends paid since ‘C’ Share class launch)	131.60	131.40	133.10	133.10

* Dividends paid represents dividends paid in respect of the Original ‘C’ Shares between their launch in 2006 up until their conversion in 2009 and as Ordinary Shares since the ‘C’ Share conversion. ‘C’ Shares were converted into Ordinary Shares on a one for one basis in 2009.

Dividends paid or declared
On 5 November 2024, the Company announced an Interim dividend for the year ending 28 February 2025 of 1.25p per share. This dividend was paid on 17 January 2025 to Shareholders on the register at 20 December 2024. Payment of this dividend will reduce the NAV per share as shown above to 50.45p and increase dividends paid to date to 81.15p per share.

Investment portfolio summary at 30 November 2024
Portfolio summary

	Cost	Valuation
Venture capital investments	£’000	£’000

Picasso Labs, Inc. (t/a CreativeX)	4,546	11,425
Luxury Promise Limited	6,020	9,360
MPB Group Limited	1,194	6,476
Gorillini NV (t/a Gorilla)	2,886	6,464
Social Value Portal Ltd	2,542	5,472
Dash Brands Ltd	3,282	5,277
Infinity Reliance Limited (t/a My 1st Years)	2,769	5,057
Utilis Israel Ltd (t/a Asterra)	2,144	4,803
Papier Ltd	4,703	4,703
Lupa Foods Limited	284	4,585
Other investments	81,716	60,970
Total investments	112,086	124,592

Cash and cash equivalents		39,655
Other net current assets		(2,186)

Net Assets		162,061

Unquoted investments are valued at fair values established using the International Private Equity and Venture Capital Valuation Guidelines.

Investment activity during the three-month period ended 30 November 2024

Investment additions

There were no additions made in the quarter to 30 November 2024.

Investment disposals

	Cost	Market value at 1 March 2024	Disposal proceeds	Gain against cost	Realised gain/ (loss) in period
	£’000	£’000	£’000	£’000	£’000
Lupa Foods Limited (loan repayment)	362	468	468	106	–
Buckingham Gate Financial Services Limited	–	150	155	155	5
	362	618	623	261	5

Investment activity from 1 December 2024 to the date of this announcement

In the period from 1 December 2024 to the date of this announcement, a follow on investment was made in Social Value Portal Ltd at cost of £118,000.

In the period from 1 December 2024 to the date of this announcement, Lupa Foods Limited was fully disposed of, realising £4,574,000 of proceeds for the Company. Commonplace Digital Limited was disposed of for consideration of shares in Zencity Technologies Ltd.

Changes to share capital	Ordinary Shares of 1.6187p each
As at 1 September 2024	315,001,048
Shares bought back during the 3 months to 30 November 2024	(4,402,488)
Shares issued during the 3 months to 30 November 2024	3,129,865
As at 30 November 2024	313,728,425

In the period from 1 December 2024 to the date of this announcement, 1,797,547 Ordinary Shares were issued on 5 December 2024 pursuant to the offer for subscription that opened on 6 November 2024 and were allotted at an average price of 53.38p, based on the net asset value of 51.5p per Ordinary Share, being the net asset value as at 31 August 2024.

In the period from 1 December 2024 to the date of this announcement, 1,094,340 Ordinary Shares were issued under the Company’s Dividend Reinvestment Scheme (“DRIS”) in relation to the dividend paid on 17 January 2025.

Offer for Subscription
ProVen VCT plc and ProVen Growth and Income VCT plc (the “Companies”) announced on 6 November 2024 that they had published a Prospectus (comprising Securities Note, Registration Document and Summary) in respect of a combined offer for subscription to raise up to £30,000,000 (up to £15,000,000 for each Company) by way of an issue of new ordinary shares in the Companies, with an over-allotment facility of up to a further £10,000,000 (up to £5,000,000 for each Company).

Material events
Other than the matters described above, there were no material events during the period from 1 September 2024 to 30 November 2024 or in the period from 1 December 2024 to the date of this announcement.

Further information
Further information regarding the Company can be found on the Company’s website: www.proveninvestments.co.uk or by contacting Beringea, the Investment Manager at info@beringea.co.uk or by telephone 020 7845 7820.

Beringea LLP
Company Secretary
Telephone 020 7845 7820
-End

The MIL Network –

January 31, 2025

MIL-OSI: From Davos to reality: $1B partnership begins with $220M Lumia Towers by SEN

Source: GlobeNewswire (MIL-OSI)

DAVOS, Switzerland, Jan. 30, 2025 (GLOBE NEWSWIRE) — Lumia Foundation and SEN Group have officially commenced construction and tokenization of the highly anticipated Lumia Towers by SEN, the first project under their landmark $1 billion real estate tokenization agreement. Valued at $220 million, the twin towers will redefine modern urban living by integrating luxurious residential spaces with Turkey’s first dedicated crypto hub.

Located in Istanbul, Turkey, the Lumia Towers by SEN project symbolizes a powerful collaboration between Lumia Foundation, created by US-based visionaries Kal and Yanush Ali, and Turkey’s SEN Group, a leader in sustainable and earthquake-resistant real estate development.

A vision introduced in Davos

At the World Economic Forum in Davos, Lumia Foundation’s co-founder Yanush Ali, Chief Blockchain Architect Deniz Dalkilic, and Chief Product Officer Diego Grassano, presented the Lumia Towers by SEN project and the broader tokenization initiative. Their series of presentations, hosted by Webit, CVLabs, and Blue Hat Founders, emphasized how blockchain technology can revolutionize real estate markets and empower global investors.

“This is our debut at Davos, and we’re honored to be here at the invitation of our partner Binance, who has been instrumental in supporting Lumia as the only full-cycle RWA blockchain,” said Yanush Ali, co-founder of Lumia Foundation. “Events like these define global industry trends, and asset tokenization is poised to become a major focus for 2025. That’s why we chose the World Economic Forum as the stage to announce our groundbreaking $220 million twin skyscraper project in Istanbul. This development isn’t just a milestone for us—it’s a statement. We’re tokenizing the entire project, creating Turkey’s first Crypto hub, and setting a new standard for innovation in real estate and blockchain technology.”

Diego Grassano, reflecting on the project’s innovation, remarked:
“With Lumia Towers, we are not just building structures; we are building opportunities. Tokenization allows anyone, anywhere, to become a part of something extraordinary.”

Deniz Dalkilic highlighted the blockchain aspect:
“Our mission is to create a seamless bridge between Real World Assets and DeFi ecosystems. Lumia Towers is just the beginning of what blockchain can achieve in transforming industries.”

Empowering small investors
By tokenizing real estate properties, Lumia Foundation aims to democratize access to high-value investments. Traditional real estate investments often require significant capital, making them inaccessible to smaller investors. However, with the Lumia Towers by SEN project, token ownership begins at just $1, enabling investors worldwide to participate.

This innovation aligns with the growing trend of Real World Assets (RWA), a market projected to reach $10 trillion by 2030. Lumia Foundation’s efforts are further amplified by its collaboration with Binance, with the two organizations sponsoring Webit, a leading technology and innovation event.

A milestone for blockchain and real estate
The $1 billion framework agreement between Lumia and SEN Group is a testament to the potential of combining blockchain with real estate development. The construction of Lumia Towers by SEN is not just a step forward for the partnership but a significant contribution to Turkey’s economic growth and global leadership in blockchain innovation.

“This partnership represents the perfect synergy of cutting-edge technology and real-world application,” said Kal Ali, co-founder of Lumia Foundation. “Turkey has enormous potential to set new standards in innovation, and we are proud to be a part of this transformative journey.”

About Lumia Foundation
Lumia Foundation is a next-generation blockchain platform focused on tokenizing Real World Assets and integrating them into the DeFi and Web3 ecosystems. Created by US-based visionaries Kal and Yanush Ali, Lumia combines innovative technology with a vision for financial inclusion.

About SEN Group
SEN Group is a Turkish real estate developer specializing in sustainable and earthquake-resistant housing. Known for its innovative construction techniques, the company is committed to advancing Turkey’s urban landscape with cutting-edge technologies

Media Contact

Lumia Foundation
Furkan Karasaç
Founder of SEN Grup
hadiye.taskin@sengrup.com

SEN Group
Kal Ali
Lumia Founder
egor@lumia.org

Disclaimer: This content is provided by Lumia Foundation. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/82643737-1950-446d-90ea-e7fd9502c176

https://www.globenewswire.com/NewsRoom/AttachmentNg/04512c52-dd57-4c95-864a-a0556b17f6fd

https://www.globenewswire.com/NewsRoom/AttachmentNg/8b0fbd82-1287-4501-ad51-a4fb513c0fb4

The MIL Network –

January 31, 2025

MIL-OSI: ProVen VCT plc: Interim Management Statement

Source: GlobeNewswire (MIL-OSI)

ProVen VCT plc
Interim Management Statement
for the nine months ended 30 November 2024

ProVen VCT plc (the “Company”) presents an Interim Management Statement for the nine-month period ended 30 November 2024. The statement also includes relevant financial information between the end of the period and the date of this announcement.

Performance

	Unaudited 30-Nov 2024	Unaudited 31-Aug 2024	Unaudited 31 May 2024	Audited 29-Feb 2024
	Pence	Pence	Pence	Pence
Net Asset Value per share (“NAV”)	64.0	62.9	65.6	65.2
Dividends paid up to date*	86.00	86.00	84.25	84.25
Total Return (NAV plus dividends paid since 10p Share consolidation)	150.00	148.90	149.85	149.45

*Dividends paid represent dividends paid since the consolidation of 5p Ordinary Shares into 10p Ordinary Shares in October 2012. Prior to this date, the Company paid dividends totalling 113.95p on the 5p Ordinary Shares.

Dividends paid or declared
On 5 November 2024, the Company announced an Interim dividend for the year ending 28 February 2025 of 1.5p per share. This dividend was paid on 17 January 2025 to Shareholders on the register at 20 December 2024. Payment of this dividend will reduce the NAV per share as shown above to 62.5p and increase dividends paid to date to 87.5p per share.

Investment portfolio summary at 30 November 2024
Portfolio summary

	Cost	Valuation
Venture capital investments	£’000	£’000

MPB Group Limited	1,684	10,230
Gorillini NV (t/a Gorilla)	4,624	9,074
Luxury Promise Limited	5,680	8,928
Infinity Reliance Limited (t/a My 1st Years)	4,731	7,440
Picasso Labs, Inc. (t/a CreativeX	2,729	5,706
Access Systems, Inc. (t/a AccessPay)	3,737	5,661
Social Value Portal Ltd	2,458	5,351
Farmer J Limited	3,670	5,314
Lupa Foods Limited	309	4,925
Moonshot CVE Ltd	2,298	4,680
Other Venture Capital investments	83,269	63,099
Total Venture Capital investments	115,189	130,408

Cash and cash equivalents		43,438
Other net current assets		(1,799)

Net Assets		172,047

Unquoted investments are valued at fair values established using the International Private Equity and Venture Capital Valuation Guidelines.

Investment activity during the three-month period ended 30 November 2024

Investment additions

There were no additions made in the quarter to 30 November 2024.

Investment disposals

	Cost	Market value at 1 March 2024	Disposal proceeds	Gain against cost	Realised gain/ (loss) in period
	£’000	£’000	£’000	£’000	£’000
Lupa Foods Limited (loan repayment)	385	502	502	117	–
Buckingham Gate Financial Services Limited	–	57	59	59	2
	385	559	561	176	2

Investment activity from 1 December 2024 to the date of this announcement

In the period from 1 December 2024 to the date of this announcement, a follow on investment was made in Social Value Portal Ltd at cost of £132,000.

In the period from 1 December 2024 to the date of this announcement, Lupa Foods Limited was fully disposed of, realising £4,914,000 of proceeds for the Company. Commonplace Digital Limited was disposed of for consideration of shares in Zencity Technologies Ltd.

Changes to share capital	Ordinary Shares of 10p each
As at 1 September 2024	268,709,951
Shares bought back during the 3 months to 30 November 2024	(3,030,427)
Shares issued during the 3 months to 30 November 2024	3,343,547
As at 30 November 2024	269,023,071

In the period from 1 December 2024 to the date of this announcement, 1,930,047 Ordinary Shares were issued on 5 December 2024 pursuant to the offer for subscription that opened on 6 November 2024 and were allotted at an average price of 65.03p, based on the net asset value of 62.9p per Ordinary Share, being the net asset value as at 31 August 2024.

In the period from 1 December 2024 to the date of this announcement, 1,103,805 Ordinary Shares were issued under the Company’s Dividend Reinvestment Scheme (“DRIS”) in relation to the dividend paid on 17 January 2025.

Beringea LLP
Company Secretary
Telephone 020 7845 7820
-End

The MIL Network –

January 31, 2025

MIL-OSI: SuperOps raises $25M in Series C and enters the IT market with game-changing AI-powered Endpoint Management tool

Source: GlobeNewswire (MIL-OSI)

Dallas, Jan. 30, 2025 (GLOBE NEWSWIRE) — SuperOps, the groundbreaking AI-driven IT platform transforming operations for IT service providers and internal IT teams, today announced it has raised $25 million in Series C funding, led by March Capital with participation from existing investors Addition and Z47. This brings SuperOps’ total funding to $54.4 million, a testament to the company’s exceptional growth and market disruption. Over the past year, SuperOps has tripled its customers and expanded its footprint to 104 countries, cementing its status as a global leader.

SuperOps is now taking its proven expertise in Managed Service Provider (MSP) technology into the broader IT market with the launch of its revolutionary Endpoint Management tool. Designed to supercharge IT team productivity, the tool enables IT teams to achieve more with fewer resources.

SuperOps founders: Arvind Parthiban and Jayakumar Karumbasalam.

“IT teams worldwide are navigating complex challenges, including remote work and rising cybersecurity threats,” said Arvind Parthiban, Co-Founder and CEO of SuperOps. “At SuperOps, we are empowering these IT heroes with tools that transform their operations, reduce costs, and fuel growth. After revolutionizing the MSP space, we are thrilled to bring our AI expertise to internal IT teams with the launch of our Endpoint Management tool. The high demand and early successes validate that this is the future of IT operations.”

Over the last four years, SuperOps has become a trusted partner for MSPs worldwide, helping thousands of such service providers optimize operations through its unified AI-powered platform. Now, internal IT teams—already comprising 20% of SuperOps’ customer base—stand to benefit from the same transformative technology.

SuperOps provide full asset oversight across user IT services.

The foundation of SuperOps’ success lies in its relentless focus on AI innovation. In 2024, the company unveiled Monica, a hyper-contextual AI guide that analyzes the MSP’s dataset to deliver personalized insights, automate routine workflows, and accelerate decision-making. With Monica, MSPs and IT teams have seen up to a 30% improvement in operational efficiency.

SuperOps plans to use the new funding to expand its AI research and development, scale its offerings for mid-market and enterprise MSPs, and further extend its global reach. With IT spending projected to hit $5.74 trillion in 2025 (Gartner), the stakes have never been higher.

“The SuperOps team has proven their capability to disrupt the MSP technology market. With rapid product advancements and significant growth in global markets, SuperOps has become a major player. We are excited to support the expansion of their AI platform and scaling of their offerings to larger MSPs and internal IT teams,” said Ravi Rajamony, Vice President at March Capital.

The Series C round, entirely backed by existing investors, highlights the continued confidence in SuperOps’ vision and execution.

“SuperOps has disrupted the stagnant MSP tools space, creating real value for MSPs through true innovation, and its entry into IT Endpoint Management promises to have similar impact. We are excited to continue to support the SuperOps team on their mission to empower IT service providers to scale, streamline operations and thrive in an increasingly competitive market,” said Todd Arfman at Addition.

Tarun Davda, Managing Director at Z47 added: “We are delighted to be part of SuperOps’ impressive growth. The platform has improved the businesses of MSPs worldwide. I am impressed by the team’s customer-centric approach to innovation, and their AI advancements. I am confident that SuperOps will continue to outpace the competition and create significant value for IT service providers”.

Ends

Media images can be found here.

About SuperOps
SuperOps is an AI SaaS company offering a unified PSA-RMM platform for future-focused MSPs and IT teams. The company was founded in 2020 by serial entrepreneur Arvind Parthiban and Jayakumar Karumbasalam. With a deep commitment to innovation and a focus on customer success, SuperOps equips MSPs with the tools they need to streamline operations, enhance service delivery, and scale their businesses. SuperOps is backed by marquee investors, March Capital, Addition, Z47, Elevation Capital, and Tanglin Venture Partners.

About March Capital
March Capital is a top-tier venture growth firm headquartered in Santa Monica, California and has been investing globally since 2014. March is committed to partnering with exceptional entrepreneurs to build great technology companies and to scale them globally. With $1.65B+ in capital over 4 funds and across 25+ market-leading technology companies, March accelerates the digital transformation of enterprise applications, cloud & data infrastructure, vertical software, and scientific discovery. Our vision is to create a best-in-class technology investment platform by combining intense sector focus, patience, access to a global leadership network (including founding The Montgomery Summit), and high-impact portfolio engagement to inspire and to accelerate extraordinary AI-native companies like CrowdStrike, Essential AI, Forter, Generate:Biomedicines, Nile, and Uniphore. For more information, please visit www.marchcp.com.

About Z47
Z47 is a “founders-first” venture capital firm with an AUM of $3.5 billion, spanning over 100 investments since 2006. Our commitment is to founders who are determined to lead India to its destiny as a developed nation by 2047. We partner with early-stage startups, offering founders a unique blend of expertise, experience, and empathy. Our investment focus includes FinTech & Services, Consumer Brands & Tech, B2B Commerce & Manufacturing, and Enterprise SaaS & AI. Z47’s Enterprise SaaS & AI portfolio includes companies like Krutrim, Neysa Networks, MoEngage, Atomicwork, and more. We take pride in being a trusted partner to pioneering founders of industry-leading companies such as Ola, Ola Electric, Razorpay, Dailyhunt, Five Star Business Finance, Country Delight, and Of Business, among others. Z47 has offices in Mumbai, Delhi and Bangalore. For more information, visit www.z47.com or write to newsroom@z47.com.

The MIL Network –

January 31, 2025
MIL-OSI: IntelliTrans Builds Momentum for 2025 with New Executive Team and Commitment to Delivering Innovative TMS Solutions
Source: GlobeNewswire (MIL-OSI)

ATLANTA, Jan. 30, 2025 (GLOBE NEWSWIRE) — IntelliTrans, a leading global multimodal transportation management software provider, enters 2025 with a renewed focus on innovation, customer success, and operational excellence. With decades of experience and a strong track record as the market leader in rail management software, IntelliTrans continues to set the standard for delivering value to bulk and break-bulk shippers.

“IntelliTrans has long been at the forefront of multimodal transportation management,” says Chad Raube, President and CEO of IntelliTrans. “Our success is built on a deep commitment to innovation, collaboratively understanding and serving the needs of our customers, and a relentless focus on helping them achieve their goals. As we look to 2025, we’re excited to build on this foundation with expanded capabilities. We will continue to provide consistent innovation and product excellence complemented by a world-class customer experience driven by our unparalleled industry expertise, customer insights and genuine engagements.”

2024: A Year of Strategic Growth
In 2024, IntelliTrans engaged with customers to refine its strategy, ensuring that product development and service enhancements aligned with their needs. With over 1,200 years of combined industry expertise, the IntelliTrans team remains a trusted partner for its customers.

Key 2024 Strategic Milestones include:
- Strengthened IntelliTrans’ position as the leading TMS provider for North American bulk and break-bulk shippers for rail and truck shipments.
- Expanded the Conway office footprint for the operations team.
- Conducted extensive surveys and user focus groups to deepen customer insights and strengthen relationships.
- Delivered 500+ product enhancements designed to address customer needs.
New executive leadership added in 2024 include:
- Jim Bell as Chief Technology Officer
- Matt Everson as Senior Vice President of Sales and Marketing
- Mayank Sharma as Chief Product Officer
This leadership expansion enhances IntelliTrans’ ability to deliver innovative solutions and provide unmatched value to its customers.

Industry Recognition

IntelliTrans was recognized by various media outlets and industry analyst organizations in 2024 with these achievements:
- Niche Player in the 2024 Gartner® Magic Quadrant™ for Real-Time Transportation Visibility Platforms
- Top 100 Logistics IT Providers by Inbound Logistics
- Pros to Know Award for Brian Cupp in the Lifetime Achievement Category
- Top Supply Chain Project for its Mobile Check-In/Out from Supply & Demand Chain Executive and Food Logistics magazines
- IntelliTrans Rhonda Shults and June Lee Named Recipients of the 2024 Women in Supply Chain Award
Looking Ahead to 2025

As IntelliTrans enters 2025, the company remains focused on empowering bulk and break-bulk shippers through innovative TMS solutions, deeper customer relationships, and expanded capabilities. With plans to add over 80 new team members, IntelliTrans’ commitment to driving growth and expanding its product is at the forefront of its strategy. By enhancing its products and fostering deeper collaboration with customers, IntelliTrans is positioned to create even greater value and deliver more impactful results.

“Our commitment to innovation and customer success has never been stronger,” Raube added. “Our dedicated teams are excited to continue building on our legacy while understanding our customer needs and helping each of them achieve new levels of operational excellence in 2025 and beyond.”

In 2025, IntelliTrans will focus on their customer feedback from 2024 to grow key TMS capabilities, which include enhanced shipment tracking, seamless integration with carrier networks, and advanced analytics to drive smarter decision-making for customers. These advancements will ensure IntelliTrans continues to deliver the tools shippers need to streamline operations and maximize efficiency.

About IntelliTrans Multimodal Transportation Management Solutions

IntelliTrans, a Roper Technologies business (Nasdaq: ROP), empowers businesses to optimize their supply chains with seamless freight management and shipment execution across all modes of transportation, including rail, truck, ocean, and barge. IntelliTrans’ trusted transportation management solutions enable customers to solve complex business challenges and help achieve a holistic digital strategy by incorporating multimodal solutions backed by extensive industry knowledge. Recognized as a top transportation management provider, IntelliTrans has recently received the Inbound Logistics Top 100 Logistics IT Provider Award, the 2023 BIG Innovation Award, the Cloud Computing Product of the Year Award, and the Food Logistics/SDCE Top Software and Technology Award. Unlock hidden efficiencies in your supply chain. Visit our website to see how IntelliTrans can help.

Media Contact for IntelliTrans:
Becky Boyd
MediaFirst PR (M1PR.com)
404.421.8497
becky@mediafirst.net

The MIL Network –
January 31, 2025
MIL-OSI: Foresight Reports Full Year and Fourth Quarter 2024 Results

Source: GlobeNewswire (MIL-OSI)

WINNEBAGO, Ill., Jan. 30, 2025 (GLOBE NEWSWIRE) — Foresight Financial Group, Inc. (OTCQX:FGFH) reported net income $12.66 million for the year ended December 31, 2024, a $1.89 million decrease compared to the $14.55 million reported for 2023. Diluted Earnings per Share (EPS) decreased 12% to $3.59 compared to $4.08 the prior year. The results for 2024 produced a Return on Average Equity of 8.66% and Return on Average Assets (ROAA) of 0.79%. The net income in comparison to the prior year was largely the result of an increase in operating expenses.

Net income for the fourth quarter of 2024 equaled $2.49 million, a $4.24 million decrease from the $6.73 million reported in the fourth quarter of 2023. The decrease was primarily due to a $4.04 million increase in the provision for loans losses, reflecting a $3.37 million negative provision in the fourth quarter of 2023. Diluted earnings per share for the fourth quarter of 2024 was $0.69 compared to $1.83 for the fourth quarter of 2023.

Net interest income for the full year 2024 decreased by $283 thousand to $48.99 million as compared to $49.27 million the year before. The net interest margin on a fully taxable equivalent basis decreased nine basis points to 3.25% compared to 3.34% in 2023. The inverted yield curve, which persisted throughout 2024, continued to drive up deposit costs, with limited opportunities to increase yields on earning assets, which are typically priced off of longer-term points of the yield curve.

The provision for loan losses for 2024 of $1.05 million was $54 thousand less than the prior year provision of $1.10 million. Foresight’s asset quality remains strong. Non-performing assets of the Company as of December 31, 2024, was $28.41 million compared to $24.33 million the previous quarter and $16.05 million at the end of 2023.

Noninterest income for the full year 2024 was $7.25 million, a $393 thousand decrease from $7.64 million the year before. The decrease from 2023 was primarily the result of a $438 thousand negative fair value adjustment to the Company’s Originated Mortgage Servicing Rights, which are carried at fair value.

Operating expenses for 2024 totaled $38.96 million, a $2.27 million, or 6.2%, increase over $36.69 million in 2023. The increase in operating expenses was largely driven by an increase in salary and employee benefits related to the addition of the Rockford based banking team as announced earlier in 2024, additional staffing to support our expanded treasury management services initiative, data processing fees related to our digital platform conversion, as well as legal and consulting fees related to our charter consolidation project which is expected to be fully implemented by Q4 2025.

Foresight’s balance sheet experienced modest growth during 2024. Total loans grew by $31.57 million, or 3%, to $1.12 billion at December 31, 2024 compared to $1.08 billion at the end of the previous year. Total deposits increased by $43.15 million, or 3.2%, to $1.40 billion at the end of 2024 compared to $1.36 billion at the end of 2023.

Foresight CEO Peter Q. Morrison stated “2024 was a year of exciting changes for the organization including the addition of the Rockford banking team as well as the announcement of the charter consolidation initiative. We anticipate the legal consolidation to occur in the second quarter of 2025 followed by the conversions to a single data processing platform to be layered in between August and October of 2025. When fully implemented, the consolidation will provide significant savings via the reduction of duplicative operational expenses and well as efficiencies gained by operating under one functional banking platform rather than six, all of which are expected to be accretive to shareholder return.”

The closing price for the Company’s stock was $32.92, as of close of business January 27, 2025. Book value per share of the Company’s common stock increased by $2.51 to $42.59 as of December 31, 2024 compared to $40.08 as of December 31, 2023. The book value per share of common stock, excluding Accumulated Other Comprehensive Income was $51.83 at December 31, 2024 compared to $49.38 at the end of 2023.

About Foresight Financial

Foresight Financial is a multi-bank holding company located in Northern Illinois, its subsidiary community banks include Northwest Bank of Rockford, State Bank in Freeport, State Bank of Davis, Foresight Bank in Pecatonica (fka German American State Bank), Lena State Bank, and the State Bank of Herscher. Foresight’s common stock is listed on the “OTCQX” market under the trading symbol FGFH.

Forward-Looking Statements

When used in this communication, the words “believes,” “expects,” “likely”, “would”, and similar expressions are intended to identify forward-looking statements. The Company’s actual results may differ materially from those described in the forward-looking statements. Factors which could cause such a variance to occur include, but are not limited to: heightened competition; adverse state and federal regulation; failure to obtain new or retain existing customers; ability to attract and retain key executives and personnel; changes in interest rates; unanticipated changes in industry trends; unanticipated changes in credit quality and risk factors, including general economic conditions particularly in the Company’s markets; potential deterioration in real estate values, success in gaining regulatory approvals when required; changes in the Federal Reserve Board monetary policies; unexpected outcomes of new and existing litigation in which the Company, or its subsidiaries, officers, directors or employees is named defendants; technological changes; changes in accounting principles generally accepted in the United States; changes in assumptions or conditions affecting the application of “critical accounting policies”; inability to recover previously recorded losses as anticipated, and the inability of third party vendors to perform critical services for the Company or its customers. The inclusion of forward-looking information should not be construed as a representation by the Company or any person that future events or plans contemplated by the Company will be achieved. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information or otherwise.

FOR INFORMATION CONTACT:

Peter Morrison
President & CEO
(815) 847-7500 Todd James
Chief Financial Officer
(815) 847-7500

The MIL Network –

January 31, 2025
MIL-OSI: Risk Strategies Acquires Comprehensive Benefits, Inc. and Gabrielson Insurance & Financial Services

Source: GlobeNewswire (MIL-OSI)

BOSTON, Jan. 30, 2025 (GLOBE NEWSWIRE) — Risk Strategies, a leading national specialty insurance brokerage and risk management firm, today announced the acquisition of Comprehensive Benefits, Inc. and Gabrielson Insurance & Financial Services, both located in the Greater Detroit area. The joint acquisition preserves an established working relationship between the two partner companies, providing increased capabilities for the clients of two established specialists. Terms of the deal were not disclosed.

Founded in 1989 and based in Southfield, Michigan, Comprehensive Benefits offers a full range of employee benefits services for both fully insured and self-funded programs for organizations. Its offerings and capabilities include medical coverage, large group benefit planning, personal life insurance, and long-term care solutions.

“This acquisition represents a unique opportunity to bring in an existing business partnership and add real specialty talent to our practice,” said John Greenbaum, National Employee Benefits Practice Leader, Risk Strategies. “These are organizations that have built success based on deep, specialized expertise. I’m excited to welcome them to the team at Risk Strategies.”

Gabrielson Insurance & Financial Services has a complementary focus, offering services in its employee benefits work similar in scope to Comprehensive Benefits. Gabrielson Insurance client organizations are also similar in size, scope and industry to those of Comprehensive Benefits, and there are synergies among the players.

“Joining Risk Strategies is the right move for our organizations, our people, and our clients,” said Mike Embry, President, Comprehensive Benefits, Inc.

Embry is an industry veteran with over 35 years of specialty experience helping clients develop and manage employee benefits programs. He has held several industry leadership positions in Michigan, including President of the Michigan Association of Health Underwriters (AHU) and President of Metro Detroit AHU. In 2018, Embry also served as President of the National Association of Health Underwriters Board of Trustees.

“We saw this as a great opportunity to formally bring our organizations together under the umbrella of a specialty organization with the capabilities to open new possibilities for our clients and people,” added Phil Gabrielson, Founder, Gabrielson Insurance & Financial Services.

“It’s great to have Mike and Phil and their teams aboard as we build out our footprint and benefits expertise in Michigan and the upper Midwest,” said Steve Giannone, Central Region Leader, Risk Strategies. “In today’s employee benefits world, clients are demanding deep expertise to help them make effective choices that deliver for employees and business goals.”

In February of 2024, Risk Strategies grew its presence in Michigan with the purchase of the Ralph C. Wilson Agency Inc. With the addition of Comprehensive Benefits and Gabrielson, Risk Strategies creates new opportunities for clients of both acquired organizations to leverage 30 specialty practices, and broad expertise and capabilities, while preserving the personalized service on which they’ve come to rely.

To learn more about Risk Strategies, please visit riskstrategies.com.

About Risk Strategies

Risk Strategies, part of Accession Risk Management Group, is a North American specialty brokerage firm offering comprehensive risk management services, property and casualty insurance and reinsurance placement, employee benefits, private client services, consulting services, and financial & wealth solutions. The 9th largest U.S. privately held broker, we advise businesses and personal clients, have access to all major insurance markets, and 30+ specialty industry and product line practices and experts in 200+ offices – Atlanta, Boston, Charlotte, Chicago, Dallas, Grand Cayman, Kansas City, Los Angeles, Miami, Montreal, Nashville, New York City, Philadelphia, San Francisco, Toronto, and Washington, DC. RiskStrategies.com.

Media Contact

Alana Bannan

Senior Account Executive

360-975-1812

Rsc@matternow.com

The MIL Network –

January 31, 2025
MIL-OSI: The Board of Directors of Oma Savings Bank Plc has reorganised

Source: GlobeNewswire (MIL-OSI)

OMA SAVINGS BANK PLC, STOCK EXCHANGE RELEASE 30 JANUARY 2025 AT 16.30 P.M. EET, OTHER INFORMATION DISCLOSED TO THE RULES OF THE EXCHANGE

The Board of Directors of Oma Savings Bank Plc has reorganised

On 30 January 2025, the Board of Directors of Oma Savings Bank Plc (OmaSp or the Company) has reorganised in terms of the Vice Chairperson and the Committees.

The Board of Directors has elected Carl Pettersson as Vice Chairman of the Board.

In addition to the Audit and Remuneration Committees, the Board of Directors decided to establish a Risk Committee. In appointing the members of the Committees, the Board has taken into account the expertise and experience required for the duties. The Board of Directors has elected the following members from among its members to the Committees:

Remuneration Committee
Jaakko Ossa, Chairman
Carl Pettersson
Juhana Brotherus
Aki Jaskari

Risk Committee
Irma Gillberg-Hjelt, Chairman
Aki Jaskari
Juha Volotinen

Audit Committee
Carl Pettersson, Chairman
Kati Riikonen
Jaana Sandström

Oma Savings Bank Plc

Additional information:
Minna Sillanpää, CCO, tel. +358 50 66592, minna.sillanpaa@omasp.fi

DISTRIBUTION
Nasdaq Helsinki Ltd
Major media
www.omasp.fi

OmaSp is a solvent and profitable Finnish bank. About 500 professionals provide nationwide services through OmaSp’s 48 branch offices and digital service channels to over 200,000 private and corporate customers. OmaSp focuses primarily on retail banking operations and provides its clients with a broad range of banking services both through its own balance sheet as well as by acting as an intermediary for its partners’ products. The intermediated products include credit, investment and loan insurance products. OmaSp is also engaged in mortgage banking operations.

OmaSp core idea is to provide personal service and to be local and close to its customers, both in digital and traditional channels. OmaSp strives to offer premium level customer experience through personal service and easy accessibility. In addition, the development of the operations and services is customer-oriented. The personnel is committed and OmaSp seeks to support their career development with versatile tasks and continuous development. A substantial part of the personnel also own shares in OmaSp.

The MIL Network –

January 31, 2025
MIL-OSI: Wix Helps Users Turn Skills into Revenue and Create New Business Initiatives with AI-Powered Business Launcher

Source: GlobeNewswire (MIL-OSI)

The Business Launcher simplifies the entrepreneurial journey by offering a personalized, end-to-end solution that translates users’ skills and experiences into viable business ventures

NEW YORK – Wix.com Ltd. (NASDAQ: WIX), the leading SaaS website builder platform globally¹, today announced the launch of the Business Launcher, an AI-powered tool that helps users create new business initiatives from concept to execution. The tool guides users through various steps of starting a new business, offering personalized ideas, actionable plans, and essential tools to create a website and launch a business.

Users begin by answering a few questions about their background, or by uploading their resume. The AI-powered tool then builds a comprehensive profile, based on work experience, skills, education, and interests. Additionally, users are asked about their goals—whether they’re aiming for a side hustle, exploring a new career path, or planning a full-time business—creating a foundation for generating tailored business ideas. Business ideas are then presented to the user, with a full breakdown of each idea including how it aligns with the users’ skills, the market size, keywords for SEO and how to earn money.

Once a business idea is selected, users receive a comprehensive launch kit, which includes a custom business name, a personalized website, logo creation, domain name options, and marketing tools. They are then guided to create their website using Wix’s AI Website Builder. The final step in the process transitions users to their tailored site dashboard, complete with a personalized business name and relevant apps to help manage their business efficiently. The dashboard provides the necessary tools to get the business up and running, offering a seamless experience from ideation to execution.

“We designed the Business Launcher to function like a personal business assistant, guiding users from the initial spark of an idea all the way to full business execution,” said Yaya Aaronsohn, Head of Brand Maker and Business Launcher at Wix. “By combining users’ work experience and interests with Wix’s extensive market research, the Business Launcher offers personalized ideas supported by detailed market analysis, SEO strategies, and revenue planning. It equips users with everything they need, from a custom website to marketing tools, ensuring they can confidently launch their business.”

The Business Launcher is available in English, with free access and optional premium upgrades for features like domain names and logos. Learn more about the Business Launcher here.

About Wix.com Ltd.

Wix is the leading SaaS website builder platform¹ to create, manage and grow a digital presence. Founded in 2006, Wix is a comprehensive platform providing users – self-creators, agencies, enterprises, and more – with industry-leading performance, security, AI capabilities and a reliable infrastructure. Offering a wide range of commerce and business solutions, advanced SEO and marketing tools, the platform enables users to take full ownership of their brand, their data and their relationships with their customers. With a focus on continuous innovation and delivery of new features and products, users can seamlessly build a powerful and high-end digital presence for themselves or their clients.

For more about Wix, please visit our Press Room
Media Relations Contact: PR@wix.com

¹ Based on number of active live sites as reported by competitors’ figures, independent third-party data and internal data as of H1 2024.

Attachments

The MIL Network –

January 31, 2025
MIL-OSI: Lake Shore Bancorp, Inc. Announces Adoption of Plan of Conversion and Reorganization to Undertake Second Step Conversion

Source: GlobeNewswire (MIL-OSI)

DUNKIRK, N.Y., Jan. 30, 2025 (GLOBE NEWSWIRE) — Lake Shore Bancorp, Inc. (the “Company”) (NASDAQ: LSBK), the holding company for Lake Shore Savings Bank (the “Bank”), announced today that the Board of Directors of its parent mutual holding company, Lake Shore, MHC, has adopted a Plan of Conversion and Reorganization pursuant to which Lake Shore, MHC will undertake a “second step” conversion from the mutual holding company structure to the stock holding company structure. In connection with the second step conversion, the Bank intends to seek regulatory approval to convert its charter to a New York-chartered commercial bank.

Lake Shore, MHC currently owns approximately 63.4% of the outstanding shares of common stock of the Company which it acquired in connection with the reorganization of the Bank into the mutual holding company structure and the related initial public offering by the Company in 2006.

As a result of the proposed transaction, a new stock holding company for the Bank (the “New Bank Holding Company”), which will succeed the Company, and will offer for sale shares of its common stock, representing Lake Shore, MHC’s ownership interest in the Company, to depositors of the Bank in a subscription offering and, if necessary, a community offering and/or a syndicated community offering. Eligible account holders of the Bank as of the close of business on December 31, 2023 have first priority non-transferable subscription rights to subscribe for shares of common stock of the New Bank Holding Company. The total number of shares of common stock of the New Bank Holding Company to be issued in the proposed stock offering will be based on the aggregate pro forma market value of the common stock of the New Bank Holding Company, as determined by an independent appraisal. In addition, each share of common stock of the Company owned by persons other than Lake Shore, MHC (the “minority shareholders”) will be converted into and become the right to receive a number of shares of common stock of the New Bank Holding Company pursuant to an exchange ratio established at the completion of the proposed transaction. The exchange ratio is designed to preserve in the New Bank Holding Company the same aggregate percentage ownership interest that the minority shareholders will have in the Company immediately before the completion of the proposed transaction, exclusive of the purchase of any additional shares of common stock of the New Bank Holding Company by minority shareholders in the stock offering and the effect of cash received in lieu of issuance of fractional shares of common stock of the New Bank Holding Company, and adjusted to reflect certain assets held by Lake Shore, MHC.

The proposed transaction is expected to be completed in the third quarter of 2025, subject to regulatory approval, approval by the members of Lake Shore, MHC (i.e., depositors of the Bank), and approval by the shareholders of the Company, including by a separate vote of approval by the Company’s minority shareholders. Detailed information regarding the proposed transaction, including the stock offering, will be sent to shareholders of the Company and members of Lake Shore, MHC following regulatory approval.

About Lake Shore

Lake Shore Bancorp, Inc. (NASDAQ Global Market: LSBK) is the mid-tier holding company of Lake Shore Savings Bank, a federally chartered, community-oriented financial institution headquartered in Dunkirk, New York. The Bank has ten full-service branch locations in Western New York, including four in Chautauqua County and six in Erie County. The Bank offers a broad range of retail and commercial lending and deposit services. The Company’s common stock is traded on the NASDAQ Global Market as “LSBK”. Additional information about the Company is available at www.lakeshoresavings.com.

Safe-Harbor

This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that are based on current expectations, estimates and projections about the Company’s and the Bank’s industry, and management’s beliefs and assumptions. Words such as anticipates, expects, intends, plans, believes, estimates and variations of such words and expressions are intended to identify forward-looking statements. Such statements reflect management’s current views of future events and operations. These forward-looking statements are based on information currently available to the Company as of the date of this release. It is important to note that these forward-looking statements are not guarantees of future performance and involve and are subject to significant risks, contingencies, and uncertainties, many of which are difficult to predict and are generally beyond our control including, but not limited to, that the proposed transaction may not be timely completed, if at all, that required regulatory, shareholder and member approvals are not timely received, if at all, or that other customary closing conditions are not satisfied in a timely manner, if at all, compliance with the Written Agreement with the Federal Reserve Bank of Philadelphia, data loss or other security breaches, including a breach of our operational or security systems, policies or procedures, including cyber-attacks on us or on our third party vendors or service providers, economic conditions, the effect of changes in monetary and fiscal policy, inflation, unanticipated changes in our liquidity position, climate change, geopolitical conflicts, public health issues, increased unemployment, deterioration in the credit quality of the loan portfolio and/or the value of the collateral securing repayment of loans, reduction in the value of investment securities, the cost and ability to attract and retain key employees, regulatory or legal developments, tax policy changes, dividend policy changes and our ability to implement and execute our business plan and strategy and expand our operations. These factors should be considered in evaluating forward looking statements and undue reliance should not be placed on such statements, as our financial performance could differ materially due to various risks or uncertainties. We do not undertake to publicly update or revise our forward-looking statements if future changes make it clear that any projected results expressed or implied therein will not be realized.

Important Additional Information and Where to Find It

Lake Shore Bancorp, Inc. will file with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-1 that will include a proxy statement of the Company and a prospectus of Lake Shore Bancorp, Inc., as well as other relevant documents concerning the proposed transaction. SHAREHOLDERS OF THE COMPANY ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT, AND THE PROSPECTUS CAREFULLY WHEN THESE DOCUMENTS BECOME AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. When filed, these documents and other documents relating to the proposed transaction can be obtained free of charge from the SEC’s website at www.sec.gov. Alternatively, these documents, when available, can be obtained free-of-charge from the Company upon written request to Lake Shore Bancorp, Inc., 31 East Fourth Street, Dunkirk, New York 14048, Attention: Taylor M. Gilden, or by calling (716) 366-4070 ext. 1065.

Participants in the Solicitation

The Company and its directors and its executive officers may be deemed to be participants in the solicitation of proxies with respect of the proposed transaction. Information regarding the Company’s directors and executive officers is available in its definitive proxy statement for its 2024 Annual Meeting of Shareholders, filed with the SEC on April 11, 2024. Other information regarding the participants in the proxy solicitation will be contained in the proxy statement, the prospectus, and other relevant materials filed with the SEC, as described above.

This press release is neither an offer to sell nor a solicitation of an offer to buy common stock. The offer is made only by the prospectus when accompanied by a stock order form. The shares of common stock to be offered for sale by Lake Shore Bancorp, Inc. are not savings accounts or savings deposits and are not insured by the Federal Deposit Insurance Corporation or by any other government agency.

Source: Lake Shore Bancorp, Inc.
Category: Financial

Investor Relations/Media Contact
Taylor M. Gilden
Chief Financial Officer and Treasurer
Lake Shore Bancorp, Inc.
31 East Fourth Street
Dunkirk, New York 14048
(716) 366-4070 ext. 1065

The MIL Network –

January 31, 2025
MIL-OSI: SMX Awarded GSA OASIS+ Unrestricted IDIQ Contract

Source: GlobeNewswire (MIL-OSI)

HERNDON, Va., Jan. 30, 2025 (GLOBE NEWSWIRE) — SMX^®, a leader in next-generation mission support, digital transformation, and IT solutions, announced today that it has been awarded the General Services Administration (GSA) One Acquisition Solution for Integrated Services+ (OASIS+) Unrestricted Indefinite Delivery, Indefinite Quantity (IDIQ) Contract. This Government-wide, multi-agency contract program is designed to provide innovative and flexible solutions for the most complex professional services requirements.

On track to be designed as a Best-in-Class (BIC) contract acquisition vehicle, OASIS+ spans eight domains, with SMX securing contracts in five to include: Enterprise Solutions, Technical & Engineering, Intel Services, Management & Advisory and Logistics. Notably, SMX is among only 29 companies to earn an award in the Enterprise Solutions Domain, demonstrating their ability to deliver integrated solutions to support Government agencies’ critical missions.

“This award underscores SMX’s expertise and commitment to continued delivery of tailored, mission-critical solutions,” said Laura Braksator, SMX Chief Growth Officer. “We are honored to be awarded a contract vehicle that empowers Government agencies with the flexibility to address their most complex professional services needs across a range of disciplines.”

The OASIS+ contract enables Government agencies to acquire total integrated solutions that span multiple disciplines, include ancillary support, and meet both commercial and non-commercial needs. With a variety of contracting options—ranging from fixed price to cost reimbursement and time and materials—this contract offers unparalleled adaptability to meet mission-specific requirements on a global scale.

About SMX

SMX is a leader in next-generation cloud, C6ISR, and advanced engineering and IT solutions operating in close proximity to clients across the U.S. and around the globe. SMX delivers scalable and secure solutions combined with the mission expertise needed to accelerate outcomes for the Department of Defense, Intelligence Community, Public Sector, Fortune 1000 and other public and private sector clients. For more information on our services, please visit https://www.smxtech.com/.

For inquiries about this press release, please contact us at communications@smxtech.com.

The MIL Network –

January 31, 2025

MIL-OSI: Truxton Corporation Reports Fourth Quarter and Full Year 2024 Results

Source: GlobeNewswire (MIL-OSI)

NASHVILLE, Tenn., Jan. 30, 2025 (GLOBE NEWSWIRE) — Truxton Corporation, the parent company for Truxton Trust Company (“Truxton” or “the Bank”) and subsidiaries, announced its operating results for the quarter ended December 31, 2024. Fourth quarter net income attributable to common shareholders was $4.99 million, or $1.74 per diluted share, compared to $4.23 million, or $1.46 per diluted share, for the same quarter in 2023.

For the year ended December 31, 2024, net income increased by 5% to $18.4 million from $17.5 million in 2023. For the year ended December 31, 2024, earnings per diluted share rose to $6.34 from $6.02, an increase of 5% from 2023.

“Truxton grew earnings again in 2024, despite the headwinds of mostly one-time expenses related to our technology and physical office upgrades,” said Truxton Chairman Tom Stumb. “Net Interest Income grew 7% and Wealth revenue increased 17% year-over-year, and we believe we are positioned well for 2025. Truxton continues to succeed as we drive successful outcomes for our clients through our dedication to service and sophisticated, sage advice.”

Key Highlights

Non-interest income was $5.7 million in the fourth quarter of 2024, which was $173 thousand higher than the third quarter of 2024 and $1.4 million over the fourth quarter of 2023. Excluding gains and losses on the sale of securities, Wealth revenue constituted 90% of non-interest income in the fourth quarter of 2024, compared to 95% for the third quarter of 2024 and to 94% for fourth quarter of 2023. Other non-interest income was elevated due to a large non-recurring payment from an SBIC fund in which we are invested.
Non-interest expense was $230 thousand lower in the fourth quarter of 2024 compared to the third, driven largely by the timing of certain expense accruals and a refund of some costs related to our bank technology upgrade recognized in the third quarter.
Loans increased 1% to $670 million at quarter end compared to $665 million at September 30, 2024, and were up 2% compared to $658 million at December 31, 2023.
Total deposits decreased by 3% from $889 million at September 30, 2024, to $866 million at December 31, 2024, and were 11% higher in comparison to $782 million at December 31, 2023. Truxton continues to fund its growth from a single banking location led by its commitment to provide what it believes is superior deposit operations service and technology.
Asset quality remains sound at Truxton. The Bank had $11 thousand of non-performing assets at December 31, 2024. Truxton had $4 thousand in charge-offs in the fourth quarter of 2024, $9 thousand in the trailing quarter, and $8 thousand of recoveries in the fourth quarter of 2023.
Net interest margin for the fourth quarter of 2024 was 2.79%, an increase of 10 basis points from the 2.69% experienced in the quarter ended September 30, 2024, and an increase of 1 basis point from the 2.78% recorded in the quarter ended December 31, 2023. Cost of funds was 3.08% in the fourth quarter of 2024, down from 3.48% in the third quarter of 2024, and 3.15% in the fourth quarter of 2023.
Allowance for credit losses, excluding that for unfunded commitments, was $6.4 million at quarter end December 31, 2024, compared to $6.4 million at September 30, 2024, and $6.3 million at December 31, 2023. For those three periods, such allowance amounts were each 0.96% of gross loans outstanding at each period end. For the same three periods, the Bank’s allowance for unfunded commitments was $483 thousand, $409 thousand, and $412 thousand, respectively.
The Bank’s capital position remains strong. Its Tier 1 leverage ratio was 10.63% at December 31, 2024, compared to 10.46% at September 30, 2024, and 10.53% at December 31, 2023. Book value per common share was $34.42, $33.30, and $30.31 at December 31, 2024, September 30, 2024, and December 31, 2023, respectively.
During the twelve months ended December 31, 2024, Truxton Corporation paid dividends of $2.72 per common share, inclusive of a $1.00 special cash dividend, and repurchased 62,382 shares of its common stock for $4.2 million in the aggregate, or an average price of $66.97 per share.

About Truxton
Truxton is a premier provider of wealth, banking, and family office services for wealthy individuals, their families, and their business interests. Serving clients across the world, Truxton’s vastly experienced team of professionals provides customized solutions to its clients’ complex financial needs. Founded in 2004 in Nashville, Tennessee, Truxton upholds its original guiding principle: do the right thing. Truxton Trust Company is a subsidiary of financial holding company, Truxton Corporation (OTCPK: TRUX). For more information, visit truxtontrust.com.

Investor Relations		Media Relations
Austin Branstetter		Swan Burrus
615-250-0783		615-250-0773
austin.branstetter@truxtontrust.com		swan.burrus@truxtontrust.com

Truxton Corporation
Consolidated Balance Sheets
(000’s)
(Unaudited)

	December 31, 2024*			September 30, 2024*			December 31, 2023*
ASSETS
Cash and due from financial institutions	$	4,225		$	5,499		$	4,272
Interest bearing deposits in other financial institutions		25,698			24,678			3,417
Federal funds sold		4,054			4,816			1,537
Cash and cash equivalents		33,977			34,993			9,226

Time deposits in other financial institutions		245			245			490
Securities available for sale		258,322			295,905			259,926

Gross loans, excluding Paycheck Protection Program		669,962			664,630			657,811
Allowance for credit losses		(6,433	)		(6,358	)		(6,304	)
Paycheck Protection Program Loans		20			27			29
Net loans		663,549			658,299			651,536

Bank owned life insurance		16,722			16,602			10,808
Restricted equity securities		2,272			2,261			1,858
Premises and equipment, net		3,293			3,328			189
Accrued interest receivable		4,567			4,954			4,388
Deferred tax asset, net		5,257			4,649			6,010
Other assets		15,577			14,017			10,839

Total assets	$	1,003,781		$	1,035,253		$	955,270


LIABILITIES AND SHAREHOLDERS’ EQUITY
Deposits
Non-interest bearing	$	126,016		$	116,149		$	123,918
Interest bearing	$	740,406		$	772,612		$	658,061
Total deposits		866,422			888,761			781,979

Federal funds purchased		–			–			–
Swap counterparty cash collateral		4,230			1,890			4,060
Federal Home Loan Bank advances		8,250			13,250			4,500
Federal Reserve Bank Term Funding Program advances		–			10,000			53,800
Subordinated debt		14,426			14,401			14,327
Other liabilities		11,747			11,405			8,922
Total liabilities		905,075			939,707			867,588

SHAREHOLDERS’ EQUITY
Common stock, $0.10 par value	$	286		$	285		$	289
Additional paid-in capital		28,945			28,729			31,457
Retained earnings		61,316			62,548			51,679
Accumulated other comprehensive income (loss)		(10,252	)		(9,434	)		(13,279	)
Net Income	$	18,411		$	13,418		$	17,536
Total shareholders’ equity		98,706			95,546			87,682

Total liabilities and shareholders’ equity	$	1,003,781		$	1,035,253		$	955,270


*The information is preliminary, unaudited and based on company data available at the time of presentation.

Truxton Corporation
Consolidated Statements of Net Income
(000’s)
(Unaudited)

	Three Months Ended								Year To Date
	December 31, 2024*			September 30, 2024*		December 31, 2023*			December 31, 2024*			December 31, 2023*
Non-interest income
Wealth management services	$	5,242		$	5,267	$	4,435		$	20,597		$	17,657
Service charges on deposit accounts		85			92		111			360			461
Securities gains (losses), net		(122	)		0		(445	)		(335	)		(386	)
Bank owned life insurance income		124			90		56			333			216
Other		391			98		115			1,164			524
Total non-interest income		5,720			5,547		4,272			22,119			18,472

Interest income
Loans, including fees	$	10,354		$	10,654	$	10,495		$	41,721		$	37,804
Taxable securities		3,039			3,361		2,554			11,932			9,350
Tax-exempt securities		217			222		210			834			876
Interest bearing deposits		348			488		198			1,475			695
Federal funds sold		75			113		41			288			101
Total interest income		14,033			14,838		13,498			56,250			48,826

Interest expense
Deposits		6,798			7,667		6,048			27,854			20,881
Short-term borrowings		90			260		685			1,294			2,154
Long-term borrowings		85			51		23			164			490
Subordinated debentures		188			188		187			752			771
Total interest expense		7,161			8,166		6,943			30,064			24,296

Net interest income		6,872			6,672		6,555			26,186			24,530

Provision for credit losses		145			105		215			217			296

Net interest income after provision for loan losses		6,727			6,567		6,340			25,969			24,234

Total revenue, net		12,447			12,114		10,612			48,088			42,706

Non interest expense
Salaries and employee benefits		4,635			4,044		3,563			16,652			14,810
Occupancy		326			315		272			1,578			1,185
Furniture and equipment		107			115		24			300			76
Data processing		282			625		389			1,763			1,703
Wealth management processing fees		195			221		166			838			729
Advertising and public relations		96			27		109			206			248
Professional services		247			609		285			1,337			941
FDIC insurance assessments		33			80		225			423			460
Other		291			406		322			2,024			901
Total non interest expense		6,212			6,442		5,355			25,121			21,053

Income before income taxes		6,235			5,672		5,257			22,967			21,653

Income tax expense		1,242			1,102		1,028			4,556			4,117

Net income	$	4,993		$	4,570	$	4,229		$	18,411		$	17,536

Earnings per share:
Basic	$	1.74		$	1.58	$	1.46		$	6.35		$	6.04
Diluted	$	1.74		$	1.57	$	1.46		$	6.34		$	6.02

*The information is preliminary, unaudited and based on company data available at the time of presentation. Totals may not foot due to rounding.

Truxton Corporation
Selected Quarterly Financial data
At Or For The Three Months Ended
(000’s)
(Unaudited)

	December 31, 2024*	September 30, 2024*	December 31, 2023*

Per Common Share Data
Net income attributable to common shareholders, per share
Basic	$1.74	$1.58	$1.46
Diluted	$1.74	$1.57	$1.46
Book value per common share	$34.42	$33.30	$30.31
Tangible book value per common share	$34.42	$33.30	$30.31
Basic weighted average common shares	2,787,805	2,819,035	2,821,846
Diluted weighted average common shares	2,792,363	2,823,728	2,828,274
Common shares outstanding at period end	2,867,850	2,869,015	2,893,064


Selected Balance Sheet Data
Tangible common equity (TCE) ratio	9.83%	9.23%	9.18%
Average Loans	$667,957	$652,624	$653,804
Average earning assets (1)	$998,861	$1,006,370	$956,793
Average total assets	$1,025,415	$1,029,802	$960,852
Average shareholders’ equity	$97,026	$94,225	$81,759


Selected Asset Quality Measures
Nonaccrual loans	$0	$0	$0
90+ days past due still accruing	$11	$11	$0
Total nonperforming loans	$11	$11	$0
Total nonperforming assets	$11	$11	$0
Net charge offs (recoveries)	$4	$9	($8)
Nonperforming loans to assets	0.00%	0.00%	0.00%
Nonperforming assets to total assets	0.00%	0.00%	0.00%
Nonperforming assets to total loans and other real estate	0.00%	0.00%	0.00%
Allowance for credit losses to total loans	0.96%	0.96%	0.96%
Net charge offs to average loans	0.00%	0.00%	0.00%


Capital Ratios (Bank Subsidiary Only)
Tier 1 leverage	10.63%	10.46%	10.53%
Common equity tier 1	15.19%	15.17%	14.58%
Total risk-based capital	16.15%	16.11%	15.53%

Selected Performance Ratios
Efficiency ratio	48.45%	52.72%	47.07%
Return on average assets (ROA)	1.94%	1.77%	1.75%
Return on average shareholders’ equity (ROE)	20.47%	19.29%	20.52%
Return on average tangible common equity (ROTCE)	20.47%	19.29%	20.52%
Net interest margin	2.79%	2.69%	2.78%

*The information is preliminary, unaudited and based on company data available at the time of presentation.
(1) Average earning assets is the daily average of earning assets. Earning assets consists of loans, mortgage loans held for sale, federal funds sold, deposits with banks, and investment securities.

Truxton Corporation
Yield Tables
For The Periods Indicated
(000’s)
(Unaudited)

The following table sets forth the amount of our average balances, interest income or interest expense for each category of interest earning assets and interest bearing liabilities and the average interest rate for interest earning assets and interest bearing liabilities, net interest spread and net interest margin for the periods indicated below:


	Three Months Ended				Three Months Ended				Three Months Ended
	December 31, 2024*				September 30, 2024*				December 31, 2023*

	Average Balances		Rates/ Yields (%)	Interest Income/ Expense	Average Balances		Rates/ Yields (%)	Interest Income/ Expense	Average Balances		Rates/ Yields (%)	Interest Income/ Expense

Earning Assets
Loans	$667,957		6.08	$10,215	$652,624		6.41	$10,520	$653,804		6.18	$10,183
Loan fees	$0		0.09	$146	$0		0.08	$134	$0		0.19	$312
Loans with fees		667,957	6.17	$10,361		652,624	6.49	$10,654	$653,804		6.37	$10,495
Mortgage loans held for sale	$0		0.00	$0	$0		0.00	$0	$0		0.00	$0
Federal funds sold	$6,232		4.71	$75	$8,367		5.28	$113	$2,985		5.41	$41
Deposits with banks	$28,570		4.85	$348	$35,784		5.43	$488	$14,240		5.51	$198
Investment securities – taxable	$260,605		4.66	$3,039	$273,488		4.92	$3,361	$248,778		4.11	$2,554
Investment securities – tax-exempt	$35,497		3.65	$217	$36,107		3.67	$222	$36,986		3.39	$210
Total Earning Assets	$998,861		5.64	$14,040	$1,006,370		5.92	$14,838	$956,793		5.65	$13,498
Non interest earning assets
Allowance for loan losses		(6,359)				(6,224)				(6,123)
Cash and due from banks	$5,985				$6,529				$5,402
Premises and equipment	$3,305				$3,370				$119
Accrued interest receivable	$3,721				$3,746				$3,575
Other real estate	$0				$0				$0
Other assets	$36,453				$34,150				$30,404
Unrealized gain (loss) on inv. securities		(16,551)				(18,139)				(29,318)
Total Assets	$1,025,415				$1,029,802				$960,852
Interest bearing liabilities
Interest bearing demand	$329,625		3.26	$2,703	$333,177		3.60	$3,018	$345,966		3.42	$2,984
Savings and money market	$200,257		2.83	$1,427	$195,751		3.60	$1,773	$138,244		2.95	$1,027
Time deposits – retail	$13,170		3.39	$112	$13,505		3.40	$115	$16,343		3.18	$131
Time deposits – wholesale	$228,144		4.46	$2,556	$226,673		4.85	$2,761	$165,756		4.56	$1,906
Total interest bearing deposits	$771,196		3.51	$6,798	$769,106		3.97	$7,667	$666,309		3.6	$6,048
Federal Home Loan Bank advances	$9,554		3.48	$85	$5,728		3.50	$51	$4,500		1.98	$23
Subordinated debt	$14,520		5.08	$188	$14,656		4.53	$188	$14,422		5.08	$187
Other borrowings	$12,369		4.04	$90	$24,011		4.22	$259	$60,859		4.39	$685
Total borrowed funds	$36,443		3.90	$363	$44,395		4.40	$499	$79,781		4.39	$895
Total interest bearing liabilities	$807,639		3.52	$7,161	$813,501		3.99	$8,166	$746,090		3.69	$6,943
Net interest rate spread			2.12	$6,879			1.93	$6,672			1.96	$6,555
Non-interest bearing deposits	$115,593				$118,216				$126,534
Other liabilities	$5,157				$3,860				$6,469
Shareholder’s equity	$97,026				$94,225				$81,759
Total Liabilities and Shareholder’s Equity	$1,025,415				$1,029,802				$960,852
Cost of funds			3.08				3.48				3.15
Net interest margin			2.79				2.69				2.78


*The information is preliminary, unaudited and based on company data available at the time of presentation. Totals may not foot due to rounding.

Yield Table Assumptions – Average loan balances are inclusive of nonperforming loans. Yields computed on tax-exempt instruments are on a tax equivalent basis. Net interest spread is calculated as the yields realized on interest-bearing assets less the rates paid on interest-bearing liabilities. Net interest margin is the result of net interest income calculated on a tax-equivalent basis divided by average interest earning assets for the period. Changes in net interest income are attributed to either changes in average balances (volume change) or changes in average rates (rate change) for earning assets and sources of funds on which interest is received or paid. Volume change is calculated as change in volume times the previous rate while rate change is change in rate times the previous volume. Changes not due solely to volume or rate changes are allocated to volume change and rate change in proportion to the relationship of the absolute dollar amounts of the change in each category.

Truxton Corporation
Yield Tables
For The Periods Indicated
(000’s)
(Unaudited)
The following table sets forth the amount of our average balances, interest income or interest expense for each category of interest earning assets and interest bearing liabilities and the average interest rate for interest earning assets and interest bearing liabilities, net interest spread and net interest margin for the periods indicated below:


	Twelve Months Ended				Twelve Months Ended
	December 31, 2024*				December 31, 2023*
	Average Balances		Rates/ Yields (%)	Interest Income/ Expense	Average Balances		Rates/ Yields (%)	Interest Income/ Expense

Earning Assets
Loans	$658,226		6.28	$41,328	$635,059		5.85	$37,150
Loan fees	$0		0.08	$504	$0		0.10	$654
Loans with fees	$658,226		6.36	$41,832	$635,059		5.95	$37,804
Mortgage loans held for sale	$0		0.00	$0	$0		0.00	$0
Federal funds sold	$5,592		5.08	$289	$1,907		5.21	$101
Deposits with banks	$27,967		5.27	$1,475	$13,711		5.07	$695
Investment securities – taxable	$259,313		4.6	$11,931	$247,483		3.78	$9,350
Investment securities – tax-exempt	$34,867		3.57	$834	$38,410		3.40	$876
Total Earning Assets	$985,965		5.76	$56,361	$936,570		5.26	$48,826
Non interest earning assets
Allowance for loan losses		(6,299)				(6,087)
Cash and due from banks	$6,161					5,960
Premises and equipment	$2,662				$154
Accrued interest receivable	$3,730				$3,271
Other real estate	$0				$0
Other assets	$33,513				$29,175
Unrealized gain (loss) on inv. securities		(19,553)				(26,891)
Total Assets	$1,006,179				$942,152
Interest bearing liabilities
Interest bearing demand	$333,322		3.5	$11,681	$351,956		3.20	$11,247
Savings and Money Market	$183,557		3.33	$6,121	$134,518		2.50	$3,368
Time deposits – Retail	$14,275		3.41	$486	$17,168		2.53	$435
Time Deposits – Wholesale	$207,457		4.61	$9,566	$143,922		4.05	$5,832
Total interest bearing deposits	$738,611		3.77	$27,854	$647,564		3.22	$20,882
Federal home Loan Bank advances	$5,476		2.95	$164	$12,355		3.91	$490
Subordinated debt	$14,565		5.08	$752	$14,831		5.12	$771
Other borrowings	$31,032		4.41	$1,294	$47,985		4.42	$2,153
Total borrowed funds	$51,073		4.26	$2,210	$75,171		4.48	$3,414
Total interest bearing liabilities	$789,685		3.80	$30,064	$722,735		3.36	$24,296
Net interest rate spread			1.95	$26,297			1.90	$24,530
Non-interest bearing deposits	$119,150				$135,909
Other liabilities	$4,424				$4,810
Shareholder’s equity	$92,920				$78,619
Total Liabilities and Shareholder’s Equity	$1,006,179				$942,073
Cost of funds			3.30				2.82
Net interest margin			2.71				2.67

*The information is preliminary, unaudited and based on company data available at the time of presentation.

Yield Table Assumptions – Average loan balances are inclusive of nonperforming loans. Yields computed on tax-exempt instruments are on a tax equivalent basis. Net interest spread is calculated as the yields realized on interest-bearing assets less the rates paid on interest-bearing liabilities. Net interest margin is the result of net interest income calculated on a tax-equivalent basis divided by average interest earning assets for the period. Changes in net interest income are attributed to either changes in average balances (volume change) or changes in average rates (rate change) for earning assets and sources of funds on which interest is received or paid. Volume change is calculated as change in volume times the previous rate while rate change is change in rate times the previous volume. Changes not due solely to volume or rate changes are allocated to volume change and rate change in proportion to the relationship of the absolute dollar amounts of the change in each category.

The MIL Network –

January 31, 2025

MIL-OSI: Verb’s ‘Go Fund Yourself’ Premieres Tonight on Cheddar TV
Source: GlobeNewswire (MIL-OSI)

LOS ALAMITOS, Calif., Jan. 30, 2025 (GLOBE NEWSWIRE) — Verb Technology Company, Inc. (Nasdaq: VERB) (“VERB” or the “Company”), the technology company behind MARKET.live and Go Fund Yourself!, is thrilled to announce that the highly anticipated premiere episode of Go Fund Yourself! airs tonight at 7 PM ET on Cheddar TV. Viewers can watch the episode live by visiting Cheddar.com or tuning in through Cheddar TV’s cable and streaming networks.

To mark this exciting milestone, VERB is hosting an exclusive, invite-only launch party for select industry leaders, investors, and media representatives. This private event will celebrate the show’s debut and the revolutionary impact Go Fund Yourself! is set to make in the crowdfunding and startup landscape.

Innovating Crowdfunding on Prime-Time Television

Airing in a prime-time weekly slot every Thursday at 7 PM ET, Go Fund Yourself! brings an innovative, interactive approach to startup funding. Entrepreneurs pitch their businesses to a panel of Titans, competing for investment and audience engagement. The show’s technology allows viewers to invest in featured companies in real-time by tapping, clicking, or scanning on-screen icons, creating an unprecedented bridge between startups and investors.

Titans Leading the Way

The Show’s expert panel includes:
- David Meltzer – Chairman of the Napoleon Hill Institute and Former CEO of Leigh Steinberg Sports & Entertainment
- Jayson Waller – Thought leader, CEO of multiple multi-million-dollar companies, and host of the popular Unleashed Podcast
- Rory J. Cutaia – Founder and CEO of VERB Technology, creator of Go Fund Yourself!, and disruptor behind MARKET.live
- Rotating celebrity guest Titans from the worlds of business, sports, and entertainment
Unmatched Visibility for Entrepreneurs

With Cheddar’s expansive digital and social reach, Go Fund Yourself! ensures startups receive unparalleled exposure. Each episode will be broadcast three times per week, with a season-ending marathon maximizing visibility for participating companies. The series will also be heavily promoted across Cheddar’s social and digital platforms to further amplify its reach.

“Tonight, we make history,” said Rory J. Cutaia, CEO of VERB and creator of Go Fund Yourself!. “This show is a total game-changer—not just for entrepreneurs, but for everyday people who now have direct access to investment opportunities traditionally reserved for insiders. We’re beyond excited to bring this groundbreaking format to millions of viewers on Cheddar TV.”

Apply to Be Featured on ‘Go Fund Yourself!’

Are you an entrepreneur or business owner looking to be featured on Go Fund Yourself!? Apply today and discover how the show can propel your funding journey to new heights.

How to Watch & Stay Connected
- Watch live tonight at 7 PM ET on Cheddar.com
- Follow MARKET.live on social media for exclusive content:
  - Facebook
  - TikTok
  - Instagram
  - LinkedIn
  - YouTube
About Cheddar TV

Cheddar is a leading digital-first news and entertainment network known for its dynamic and engaging content targeting millennial and Gen Z audiences. Available across cable, streaming, and digital platforms, Cheddar offers unparalleled distribution opportunities for innovative programming like Go Fund Yourself!.

About VERB Technology Company

Verb Technology Company, Inc. (Nasdaq: VERB) is an industry leader in interactive video-based social commerce. Its flagship platform, MARKET.live, is a premier multi-vendor livestream shopping destination where brands, retailers, creators, and influencers engage customers across social media channels. Go Fund Yourself! combines a revolutionary interactive TV show with MARKET.live’s commerce-driven backend, enabling real-time investments and product sales via shoppable on-screen icons. VERB is headquartered in Las Vegas, NV, with full-service production studios in Los Alamitos, CA.

Forward-Looking Statements

This press release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995. These statements involve risks, uncertainties, and other factors that could cause actual results to differ materially. Readers should not place undue reliance on forward-looking statements. Please refer to VERB’s filings with the SEC for a complete discussion of risks and uncertainties.

Investor Relations:

investors@verb.tech

The MIL Network –
January 31, 2025
MIL-OSI: Global Drug Screening Market Is Forecasted to Reach $19.5 Billion By 2029

Source: GlobeNewswire (MIL-OSI)

PALM BEACH, Fla., Jan. 30, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Due to the expanding consumption of illicit drugs & alcohol across the globe the Drug Screening market is poised to grow substantially in the coming years. Drug abuse and alcohol consumption are growing worldwide. According to the World Drug Report 2023, in 2021, 1 in every 17 people aged 15–64 in the world had used a drug in the past 12 months. The number of users grew from 240 million in 2011 to 296 million in 2021 or 5.8% of the global population aged 15-64. This is a 23% increase, partly due to population growth. Other drugs like Cannabis the second most used drug, with an estimated 219 million users i.e. 4.3% of the global adult population in 2021. In 2021, according to the US Department of Transportation, National Highway Traffic Safety Administration (NHTSA), 13,384 people died in alcohol-impaired driving crashes, i.e. a 14% rise from last year. A report from MarketsAndMarkets projected that: “The global drug screening market, valued at US$7.7 billion in 2023, is forecasted to grow at a robust CAGR of 16.6%, reaching US$9.1 billion in 2024 and an impressive US$19.5 billion by 2029.North America dominates the drug screening market. This market is projected to reach USD 9.3 billion by 2029, at a CAGR of 16.4% during the forecast period. The expanding consumption of illicit drugs & alcohol will advance raise the development of drug screening products & services on the road, thereby driving the overall market growth.”   Active companies in news today include:   Intelligent Bio Solutions Inc. (NASDAQ: INBS), Cardio Diagnostics Holdings, Inc. (NASDAQ: CDIO), bioAffinity Technologies, Inc. (NASDAQ: BIAF), Trinity Biotech plc (NASDAQ: TRIB), SOBR Safe, Inc. (NASDAQ: SOBR).

The MarketsAndMarkets report said: “The growth of the drug screening market is driven by the growing drug & alcohol consumption and the enforcement of stringent laws mandating drug & alcohol testing. Rising regulatory approvals for new product & service launches would offer lucrative growth opportunities for market players in the coming years. The APAC market is projected to register the highest growth in the forecast period due to growing illicit consumption of drugs, the developing healthcare infrastructure, and the rising adoption of stringent regulatory guidelines for drug testing.”

Intelligent Bio Solutions Inc. (NASDAQ: INBS) Adds Quantum TM to 400+ Account Portfolio Utilizing Breakthrough Fingerprint Drug Testing – Intelligent Bio Solutions Inc. (“INBS” or the “Company”), a medical technology company delivering intelligent, rapid, non-invasive testing solutions, announced that Quantum Traffic Management (“Quantum TM”), a leading UK-based traffic management provider, has adopted INBS’ Intelligent Fingerprinting Drug Testing Solution across its 10 nationwide sites to increase workplace testing efficiency and safety.

With over 30 years of industry experience, Quantum TM operates across the utilities, highways, rail, local authority, and events sectors. Previously, Quantum TM relied on saliva and urine testing through external occupational health providers; however, the delays and inefficiencies associated with these methods prompted the company to explore a quicker and more hygienic alternative. INBS’ fingerprint sweat-based system enables Quantum TM to conduct on-the-spot drug screening in-house, facilitating rapid decision-making and improved operational efficiency.

“The Intelligent Fingerprinting Drug Testing Solution provides us with greater control when it comes to drug testing. Having previously faced delays with our former saliva and urine drug testing methods, we needed to find an effective solution that we could manage in-house and increase our testing productivity,” said Scott Powell, Managing Director at Quantum TM. “Intelligent Bio Solutions’ technology enables us to do this, and we have already improved our testing efficiency with rapid, non-invasive screening.” CONTINUED…   Read this entire press release for INBS at: https://ibs.inc/news-and-media/

In Additional News This Week, Intelligent Bio Solutions Inc. (NASDAQ: INBS) Partners with IVY Diagnostics to Expand in Europe’s $3.6 Billion Drug Screening Market and in Middle Eastern Regions – Intelligent Bio Solutions Inc. also announced the strengthening of its foothold throughout Europe and the Middle East through its partnership with IVY Diagnostics Srl (“IVY Diagnostics”). As a key distributor, IVY Diagnostics is playing an integral role in expanding the adoption of INBS’ Intelligent Fingerprinting Drug Testing Solution across Europe and the Middle East, with a particular focus on drug rehabilitation and law enforcement applications.

According to Grand View Research, the European and Middle Eastern drug screening markets are projected to grow significantly by 2030, with Europe expected to reach $3.6 billion and the Middle East and Africa $432.7 million. This growing demand emphasizes the strategic importance of INBS’ partnership with IVY Diagnostics.

IVY Diagnostics, a well-known consulting and distribution company within the diagnostics, life sciences and pharmaceutical sectors, has collaborated with another Italian distributor to secure a tender to provide INBS’ drug screening technology for drug rehabilitation programs across Italy. The solution offers a non-invasive, rapid, and hygienic method for drug screening, which has been well received by rehabilitation centers aiming to enhance their testing protocols. In addition to its success in rehabilitation services, INBS’ drug screening system is currently undergoing a trial with the local police force in Turin. The trial aims to explore the effectiveness of fingerprint-based drug testing in roadside screening initiatives, offering a more efficient, less invasive alternative to the traditional methods currently used.

As the demand for drug screening solutions rises across Europe and the Middle East, INBS’ collaboration with IVY Diagnostics positions the Company to effectively capture new opportunities. IVY Diagnostics serves as INBS’ primary contact in Europe, leveraging its extensive network of distributors and expertise in identifying and vetting new partners across key regions, including Romania, Hungary, Slovakia, Austria, and Scandinavia. The collaboration extends to the Middle East, targeting markets such as the UAE, Saudi Arabia, and Qatar.   CONTINUED…   Read this entire press release for INBS at: https://ibs.inc/news-and-media/

In other developments in the markets of note:

Cardio Diagnostics Holdings, Inc. (NASDAQ: CDIO) recently announced that the Company’s PrecisionCHD and Epi+Gen CHD tests have received final pricing determinations from the Centers for Medicare & Medicaid Services (CMS). Following the preliminary pricing determination made by CMS in August 2024, CMS finalized the ‘gapfill’ pricing determination for both PrecisionCHD and Epi+Gen CHD. This decision will be effective for claims with dates of service on or after January 1, 2025, and will allow Medicare contractors to determine pricing for PrecisionCHD and Epi+Gen CHD based on actual cost data from Cardio Diagnostics. The Medicare contractors will report to CMS preliminary gapfill pricing for calendar year 2025 by April 1, 2025.

“Receiving this final determination is a crucial step for our innovative solutions to help improve the risk assessment, diagnosis, management and monitoring of coronary heart disease (CHD) for Medicare patients,” said Meesha Dogan, Ph.D., CEO and Co-Founder of Cardio Diagnostics. “This milestone brings us closer to addressing the significant unmet needs in cardiovascular care for the Medicare population, enabling clinicians to better personalize treatment strategies and ultimately improve patient outcomes.”

bioAffinity Technologies, Inc. (NASDAQ: BIAF) recently announced that the Australian Patent Office (IP Australia), has accepted bioAffinity’s patent application for the method of predicting the likelihood of lung cancer used by the CyPath® Lung diagnostic test for early-stage lung cancer.

The Australian patent application, titled “Detection of Early-Stage Lung Cancer in Sputum Using Automated Flow Cytometry and Machine Learning,” will be an important addition to bioAffinity Technologies’ patent portfolio, which includes 17 awarded U.S. and foreign patents and 38 pending patent applications related to its diagnostic platform and cancer treatment therapeutics. Once issued, the Australian patent will expire in 2042 and will be the second awarded for the CyPath® Lung flow cytometry test as a stand-alone assay for the detection of lung cancer.

Trinity Biotech plc (NASDAQ: TRIB) recently announced compelling results from its latest pre-pivotal clinical trial for its next-generation continuous glucose monitoring (CGM) system. The pre-pivotal clinical trial, which included 30 diabetic participants—primarily individuals with Type 1 diabetes—represents a significant milestone in Trinity’s mission to deliver affordable, high-performance CGM technology.

Trinity Biotech’s redesigned ergonomic modular device features a reusable applicator and a rechargeable wearable transmitter that eliminates costly disposable components while delivering a seamless user experience. By using more durable, reusable components, enabled by Trinity’s proprietary self-inserting sensor technology, the Trinity CGM is designed to deliver care at a significantly lower cost than today’s two largest manufacturers. By addressing affordability—a key barrier to adoption of this life changing technology —Trinity’s innovative approach has the potential to bring CGM technology to millions of individuals who have been priced out of the market. This disruptive design not only expands access but also redefines sustainability in the CGM space, further differentiating Trinity’s solution from current market leaders.

SOBR Safe, Inc. (NASDAQ: SOBR) recently announced the new release of SOBRsure™, a revolutionary wristband device designed to detect the presence of alcohol in individuals, supporting sobriety and empowering recovery. Available to purchase today, SOBRsure introduces an enhanced app experience and a new, sleekly-designed wristband that uses advanced transdermal technology to detect alcohol through the skin. This innovative device serves as a powerful monitoring and accountability tool for families, businesses and individuals alike.

“We believe that SOBRsure is not just a technological breakthrough; it’s a lifeline to those navigating alcohol use disorder (AUD) and the path to sobriety,” said David Gandini, CEO of SOBRsafe. “With SOBRsure, we provide an accountability tool that not only supports individuals on their sobriety journey but also offers peace of mind to their families and employers.”

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SOURCE: FN Media Group

The MIL Network –

January 31, 2025
MIL-OSI: Neighbors Federal Credit Union Makes Loan Funding Easier While Fighting Fraud with Point Predictive’s AutoPass™ Solution
Source: GlobeNewswire (MIL-OSI)

SAN DIEGO, Jan. 30, 2025 (GLOBE NEWSWIRE) — Point Predictive, the leader in artificial intelligence solutions for consumer lending, today announced that Neighbors Federal Credit Union has selected AutoPass to enhance their auto lending capabilities.

As auto lending fraud continues to evolve, with industry exposure reaching $8.1 billion in recent years, Neighbors Federal Credit Union is taking proactive steps to protect its members while making the lending process faster and more efficient.

The partnership comes at a crucial time in the lending landscape, where credit unions have emerged as leaders in auto loan originations. By implementing AutoPass, Neighbors Credit Union will be able to streamline low risk approved loans without requiring onerous documentation which will make it easier, faster, and safer for their members.

Point Predictive’s AutoPass delivers a comprehensive suite of fraud detection capabilities to Neighbors Federal Credit Union. This includes:
- Insights that can reduce stipulation requests on up to 80% of approved loans.
- A comprehensive risk score that helps prevent 40% to 60% of early pay defaults.
- Over 120 alerts that identify fraud across all fraud types.
“The lending environment has fundamentally changed, with fraudsters becoming increasingly sophisticated in their approaches,” said Tim Grace, CEO of Point Predictive. “By partnering with Neighbors Federal Credit Union, we’re helping them stay ahead of these evolving threats while making the lending process remarkably easier for their members. Our data shows that most borrowers are truthful in their applications, and now Neighbors Federal can quickly understand which borrowers are truthful so they can fast-track these legitimate applications while focusing their verification efforts where they matter most.”

The integration leverages Point Predictive’s proprietary data repository, which includes more than 76 billion unique borrower insights not available anywhere else. This comprehensive data foundation enables Neighbors Federal to automate decisions on up to 80% of their credit-approved applications while maintaining robust fraud protection.

“Our members deserve a lending experience that’s both secure and seamless,” said Steve Webb, the President and CEO of Neighbors Federal Credit Union. “Point Predictive’s AutoPass solution allows us to deliver on both fronts. We can now offer our members faster loan decisions while maintaining the highest standards of security that they expect from us.”

The implementation is expected to deliver significant improvements in loan processing efficiency. Banks and credit unions that use AutoPass experience loan conversion rates that increase by up to 50% through the elimination of unnecessary documentation requirements, while simultaneously strengthening their defense against sophisticated fraud schemes.

For more information, please contact info@pointpredictive.com.

About Point Predictive

Point Predictive powers a new level of lending confidence and speed through artificial intelligence, powerful data insight from our proprietary data repository, and decades of risk management expertise. The company’s data and technology solutions quickly and accurately identify truthful and untruthful disclosures on loan applications. As a result, lenders can fund the majority of loans without requiring onerous documentation, such as paystubs, utility bills, or bank statements, improving funding rates while reducing early payment default losses. Subsequently, borrowers get loans faster, and lenders realize a more profitable bottom line.

About Neighbors Federal Credit Union

Founded in 1954, Neighbors Federal Credit Union is one of the largest community-chartered credit unions in Louisiana, serving over 76,000 members with assets exceeding $1 billion. Based in Baton Rouge, Neighbors Federal provides comprehensive financial services with a focus on member satisfaction and community service. For more information, please visit neighborsfcu.org.

Media Contact:
Jill Robb
jrobb@pointpredictive.com

The MIL Network –
January 31, 2025
MIL-OSI: Churches Cultivate Deeper Connections and Greater Generosity in 2024 with Pushpay
Source: GlobeNewswire (MIL-OSI)

REDMOND, Wash., Jan. 30, 2025 (GLOBE NEWSWIRE) — Pushpay, the leading payments and engagement solutions provider for mission-driven organizations, today announces key trends in end-of-year generosity and church engagement, highlighting a remarkable season of growth and vitality for churches in 2024. Generosity is thriving in new ways as Pushpay technology showed a 37% increase in the total number of church volunteers this December compared to last year. Additionally, the average gift size in December grew 60%, compared to other months of the year, signaling growing momentum and strong engagement in the Church.

“In an inspiring display of generosity and unity this holiday season, Social Dallas raised over $1.8 million in less than 60 days to secure a new home. For nearly four years, our church has been a ‘mobile church,’ traveling from venue to venue across Dallas,” said a representative from Social Dallas Church, a Pushpay customer. “This milestone marks the beginning of a permanent space for worship, community, and transformation—a space the congregation has prayed and believed for since the beginning. This wasn’t just about hitting a financial target, it was about coming together as a community to build a legacy—a place where lives will be transformed.”

Data reinforces that acts of generosity are closely tied to connection. Findings from a recent external study show that churches that focus on engagement activities and ways to cultivate deeper relationships with their community members saw nearly a 57% increase in overall giving. Today, Pushpay’s engagement software enables churches to facilitate nearly 1.3 million moments of connection within their communities each week.

“Generosity is innate to the human spirit, and it flourishes when people feel connected,” said Molly Matthews, CEO of Pushpay. “Many of our customers experienced the extraordinary power of that generosity this year—be it time, talent, or tithes—as Pushpay worked alongside them to transform how they connect and engage with their members. For faith leaders, these findings underscore the importance of fostering genuine relationships, which in turn lead to transformational results.”

End of Year Generosity By the Numbers
Based on Pushpay’s customer base of more than 14,000 churches, noteworthy end of year trends include:
- Growth in End of Year Donations: December’s year-over-year donation volume grew by 4% compared to 2023.
- Bump in One-Time Gifts: Non-recurring gifts jumped 110% in December compared to the monthly average in 2024.
- Increase in Giving Tuesday: This year 25% more donations were processed on Giving Tuesday, a staggering comparison to 2023 and an indication that churches are starting to take advantage of this growing cultural trend in charitable giving.
- Recurring Giving Trends: 7% of all gifts for the year were donated in the last two weeks of the year, which is below the market average for not for profit organizations—likely due to the volume of donors that are enrolled in recurring giving options.
- Higher Family Engagement: Average child check-ins increased by 10% in December 2024, compared to 2023, signaling a potential increase in family participation.
- Average Gift Amount Remains Steady: The average gift size remains flat compared to last year, with the YoY monthly average being $216.
The Rise of Non-Cash Giving
2024 also saw significant growth in non-cash generosity, with more donors utilizing stock and cryptocurrency donations to maximize their impact. Through Pushpay’s deepened partnership with Engiven, an industry leading complex giving solution, more churches than ever received crypto and stock donations this year, unlocking new lanes of generosity for their community. Notably, 61% of all stock donations and 22% of crypto gifts through the Pushpay platform were made in December, reflecting the importance of year-end giving. According to data from all Engiven customers and partners, the average stock gift in 2024 was more than $14,500, with an average crypto gift being nearly $58,000.

Driving Greater Generosity with Technology Innovation
Technology plays a pivotal role in helping churches achieve their mission by equipping ministry leaders with the tools they need to deepen relationships and inspire meaningful acts of generosity. In 2024, Pushpay introduced several new product features and enhancements to help churches grow connection and generosity, including multi-fund giving, mobile app enhancements, volunteer scheduling improvements, and more—all to help streamline church operations while increasing engagement. To learn more about Pushpay, visit www.pushpay.com.

About Pushpay
Pushpay empowers mission-driven organizations to engage their communities by bringing people together and fostering meaningful connections. Through its innovative suite of products, Pushpay helps create cultures of generosity by streamlining donation processes, enhancing communications, and strengthening relationships. Pushpay’s purpose-built ministry solutions include ChurchStaq, ParishStaq, Pushpay Insights, Resi, and more— all designed to simplify operations and provide data driven insights to support the mission of its customers. Whether managing donations, organizing events, or connecting with community members, Pushpay’s integrated tools enable ministry leaders to focus on what matters most—growing their ministry and deepening engagement. For more information visit www.pushpay.com

US Media / PR Contact: Chelsea Looney PR@pushpay.com

The MIL Network –
January 31, 2025
MIL-OSI: Truxton Corporation Announces Increased Quarterly Cash Dividend for 2025, Special Cash Dividend, and a $5 Million Repurchase Authorization

Source: GlobeNewswire (MIL-OSI)

NASHVILLE, Tenn., Jan. 30, 2025 (GLOBE NEWSWIRE) — Truxton Corporation (OTCPK: TRUX), a financial holding company and the parent of Truxton Trust Company, announced that its Board of Directors has approved a quarterly cash dividend of $0.50 per common share payable March 25, 2025, to shareholders of record as of March 11, 2025, representing a 16% increase over the 2024 regular quarterly dividend of $0.43. This represents the thirteenth consecutive year of increased regular dividends at Truxton Corporation. In addition, a special cash dividend of $1.00 per common share will be paid on March 25, 2025, to shareholders of record as of March 11, 2025.

The Board of Directors has also authorized a stock repurchase program under which the Corporation may acquire up to $5 million of its common shares during a period beginning after the release of fourth quarter earnings and extending for one year. The shares may be purchased in open-market or private transactions at the discretion of management, subject to the limitations of applicable securities laws.

The share repurchase program may be extended, modified, amended, suspended or discontinued at any time at the Corporation’s discretion and does not commit the Corporation to repurchase shares of its common stock. The actual timing, number and value of the shares to be purchased under the program will be determined by the Corporation at its discretion and will depend on a number of factors, including the performance of the Corporation’s stock price, the Corporation’s ongoing capital planning considerations, general market and other conditions, applicable legal requirements and compliance with the terms of the Corporation’s outstanding indebtedness

About Truxton
Truxton is a premier provider of wealth, banking, and family office services for wealthy individuals, their families, and their business interests. Serving clients across the world, Truxton’s vastly experienced team of professionals provides customized solutions to its clients’ complex financial needs. Founded in 2004 in Nashville, Tennessee, Truxton upholds its original guiding principle: do the right thing. Truxton Trust Company is a subsidiary of financial holding company, Truxton Corporation (OTCPK: TRUX). For more information, visit truxtontrust.com.

Investor Relations Media Relations

Austin Branstetter Swan Burrus

615-250-0783 615-250-0773

austin.branstetter@truxtontrust.com swan.burrus@truxtontrust.com

The MIL Network –

January 31, 2025
MIL-OSI: Traliant introduces new cultural competence training to drive workplace collaboration and innovation

Source: GlobeNewswire (MIL-OSI)

NEW YORK, Jan. 30, 2025 (GLOBE NEWSWIRE) — Traliant, a leader in online compliance training, today announced the launch of its new Cultural Competence training, designed to empower employees and managers to navigate and thrive in diverse workplace environments.

In an increasingly global and interconnected business landscape, cultural competence has become more than just a soft skill — it’s a strategic advantage. Traliant’s training highlights how mastering cultural competence enhances collaboration, reduces costly miscommunications and fosters innovation by leveraging diverse perspectives. With practical strategies and real-world scenarios, the course equips employees to build stronger relationships, handle differences constructively and create an environment where diverse teams can excel.

“Organizations today are seeking measurable ways to boost productivity, retain top talent and drive innovation,” said Mike Dahir, CEO at Traliant. “Cultural competence training goes beyond inclusion; it directly impacts the bottom line by enhancing team dynamics, reducing turnover and positioning organizations to succeed in diverse markets.”

Toxic workplace cultures cost U.S. companies $223 billion. Traliant’s training addresses these challenges by reducing microaggressions, unconscious bias and communication barriers — helping organizations build trust, retain talent, and achieve better results.

Traliant also released new Cultural Competence in Healthcare training for clinicians, nurses, and other healthcare professionals designed to improve patient outcomes and align with state and federal standards. This specialized course provides healthcare professionals with actionable insights into understanding patients’ cultural contexts, enabling them to deliver improved patient outcomes through more effective and personalized care.

To learn more about Traliant’s innovative training solutions, visit: https://www.traliant.com/.

About Traliant
Traliant, a leader in compliance training, is on a mission to help make workplaces better, for everyone. Committed to a customer promise of “compliance you can trust, training you will love,” Traliant delivers continuously compliant online courses, backed by an unparalleled in-house legal team, with engaging, story-based training designed to create truly enjoyable learning experiences.

Traliant supports over 14,000 organizations worldwide with a library of curated essential courses to broaden employee perspectives, achieve compliance and elevate workplace culture, including sexual harassment training, diversity training, code of conduct training, and many more.

Backed by PSG, a leading growth equity firm, Traliant holds a coveted position on Inc.’s 5000 fastest-growing private companies in America for four consecutive years, along with numerous awards for its products and workplace culture. For more information, visit http://www.traliant.com and follow us on LinkedIn.

Contact
Reagan Bennet
traliant@v2comms.com

The MIL Network –

January 31, 2025
MIL-OSI: ITS Logistics January Supply Chain Report: Recession Risks Heighten for US Economy as Consumer Confidence Decreases for Second Consecutive Month
Source: GlobeNewswire (MIL-OSI)

RENO, Nev., Jan. 30, 2025 (GLOBE NEWSWIRE) — ITS Logistics released the January ITS Supply Chain Report, revealing the U.S. economy was relatively stable last month but faced several headwinds. The job market remained strong, and inflation cooled significantly, but concerns about core inflation, higher interest rates, tariffs, and potential economic slowdown loomed. The Federal Reserve’s cautious approach to monetary policy and the housing market’s ongoing challenges also continued to influence the overall economic outlook.

“As the U.S. entered December 2024, the economic outlook carried both positive and negative trends that could influence the trajectory of the economy in 2025 and beyond,” said Stan Kolev, Chief Financial Officer of ITS Logistics. “While many indicators suggest resilience, a number of challenges pose significant risks to continued growth.”

Key concerns that supply chain professionals should be privy to include:
- Inflationary Pressure: If inflationary pressures persist or accelerate, it could erode consumer spending and confidence
- Monetary Policy Uncertainty: The risk of inflation becoming entrenched could lead to more aggressive action from the Federal Reserve, with possible interest rate hikes impacting consumer borrowing and business investment
- Global Economic Uncertainty: The global supply chain disruptions and rising geopolitical tensions could negatively impact US exports and supply chains, hurting sectors that rely on international trade
- Consumer Confidence: If inflation and high borrowing costs weigh too heavily on households, it could lead to reduced discretionary spending, further slowing growth in key sectors like retail, travel, and housing
- Tariffs: Per the recent incoming Trump Administration announcement, there is a potential for an increase in tariffs. Companies should prepare for the potential of a front-loading event similar to 2018, disrupting transpacific trade lanes from Asia into North America
The Conference Board reported that this month alone, U.S. consumer confidence decreased for the second consecutive month. Its consumer confidence index declined to 104.1 from 109.5 in December. This is considered to be worse than the projections presented by economists, which were expected to result in a reading of 105.8. The index measures Americans’ assessment of current economic conditions and their outlook for the next six months. Overall, consumers’ outlook of current market conditions decreased by 9.7 points to a reading of 134.3 this month, while the views on current labor market conditions fell for the first time since September.

“In December 2024, the U.S. labor market remained strong but showed some signs of slowing as the year came to a close,” continued Kolev. “The U.S. economy added about 200,000 to 250,000 jobs last month, continuing a solid pace of hiring. While lower than the stronger job growth observed in 2021 and 2022, it still represented a healthy expansion, especially given the higher interest rate environment. The unemployment rate remained steady at 3.5%, continuing near historic lows. This suggested a tight labor market, with many employers still struggling to find workers.”

Although job growth slowed compared to earlier in the recovery, demand for workers remained robust, particularly in healthcare, hospitality, and blue-collar industries. However, concerns about higher interest rates and a potential economic slowdown in 2025 could bring more caution to the labor market.

While the U.S. economy was not yet in recession in December 2024, the risks are heightened as we move into 2025. The key concerns include how inflationary pressures, high interest rates, and global uncertainties will impact growth, consumer confidence, and business investment in the year ahead.

ITS Logistics offers a full suite of network transportation solutions across North America and distribution and fulfillment services to 95% of the U.S. population within two days. These services include drayage and intermodal in 22 coastal ports and 30 rail ramps, a full suite of asset and asset-lite transportation solutions, omnichannel distribution and fulfillment, LTL, and outbound small parcel.

The monthly ITS Supply Chain Report serves to inform ITS employees, partners, and customers of marketplace changes and updates. The information in the report combines data provided through DAT and various industry sources with insights from the ITS team. Visit here for a comprehensive copy of the report with expected industry insights and market updates.

About ITS Logistics
ITS Logistics is one of North America’s fastest-growing, asset-based modern 3PLs, providing solutions for the industry’s most complicated supply chain challenges. With a people-first culture committed to excellence, the company relentlessly strives to deliver unmatched value through best-in-class service, expertise, and innovation. The ITS Logistics portfolio features North America’s #19 asset-lite freight brokerage, the #12 drayage and intermodal solution, a top 50 dedicated fleet, an innovative cloud-based technology ecosystem, and a nationwide distribution and fulfillment network.

Media Contact
Amber Good
LeadCoverage
amber@leadcoverage.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4910ceb2-75a8-407d-b57a-1342bbc2d3f0

The MIL Network –
January 31, 2025
MIL-OSI: Purpose Investments Files Preliminary Prospectus for the World’s First Ripple (XRP) ETF

Source: GlobeNewswire (MIL-OSI)

TORONTO, Jan. 30, 2025 (GLOBE NEWSWIRE) — Purpose Investments Inc. (“Purpose”), the leader behind the world’s first Bitcoin ETF and Ether ETFs, is pleased to announce that it is further solidifying its preeminence in the digital asset space with the filing of a preliminary prospectus with Canadian securities regulators for the proposed launch of the Purpose Ripple ETF.

The Purpose Ripple ETF seeks to invest substantially all of its assets in long-term holdings of Ripple (“XRP”) and to provide holders of ETF Units with the opportunity for long-term capital appreciation.

“At Purpose, we remain steadfast in our commitment to innovation and to bridging the gap between traditional and decentralized finance,” said Som Seif, founder and CEO of Purpose Investments. “As XRP sees increasing adoption and institutional interest, we believe an ETF can offer investors a transparent and familiar way to access it within a regulated framework.”

“This launch represents another important step in our efforts to be the leading and most trusted partner for investors in harnessing the benefits of crypto and digital assets by enabling them to understand, access, and confidently invest these assets,” added Vlad Tasevski, Chief Innovation Officer. “We remain committed to providing exposure to transformative digital assets and blockchain technologies through regulated investment vehicles.”

About Purpose Investments Inc.

Purpose Investments is an asset management company with more than $23 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent technology-driven financial services company.

For further information, please contact:
Keera Hart
Keera.Hart@kaiserpartners.com
905-580-1257

A preliminary simplified prospectus relating to the ETFs (the “Preliminary Prospectus”) has been filed with the Canadian securities commissions or similar authorities. You cannot buy shares of the ETFs until the relevant securities commissions or similar authorities issue receipts for the final prospectus of the ETFs. Important information about the ETFs is contained in the Preliminary Prospectus. Copies of the Preliminary Prospectus may be obtained from Purpose or at www.purposeinvest.com.

Commissions, trailing commissions, management fees, and expenses may all be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed; their values change frequently, and past performance may not be repeated.

The MIL Network –

January 31, 2025
MIL-OSI: Drones Providing Valuable Military Intelligence & Surveillance Solutions as Drone Market Skyrockets with Potential

Source: GlobeNewswire (MIL-OSI)

PALM BEACH, Fla., Jan. 30, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – The increasing terrorism around the globe is expected to boost the growth of the military drone market going forward. Terrorism refers to an act of violence that would put others in danger while showing a blatant disdain for the harm IT would do. Governments and military organizations often use military drones in counter-terrorism efforts. Drones can provide valuable intelligence, surveillance, and reconnaissance (ISR) capabilities to monitor and track terrorist activities. The need for real-time data and actionable intelligence in counter-terrorism operations drives the demand for military drones. A recent report said that the military drones market size is expected to see strong growth in the next few years. It will grow to $21.93 billion in 2029 at a compound annual growth rate (CAGR) of 6.5%. The report said that: The Global Military Drones Market Trend: Innovative Products Expand The Military Drone Market. Major companies operating in the military drone market are developing new products such as hybrid unmanned aerial systems to meet larger customer bases, more sales, and increase revenue. A hybrid unmanned aerial system (UAS) refers to a type of drone or unmanned aircraft system that combines multiple propulsion systems or energy sources to enable enhanced operational capabilities.” Active Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), ParaZero Technologies Ltd. (NASDAQ: PRZO), Lockheed Martin Corporation (NYSE: LMT), RTX Corporation (NYSE: RTX).

The Business Research Company continued: “Global Military Drones Market Trend: Rising Popularity Of Drone Swarm Technology In The Military Drone Market. Drone swarm technology is growing in popularity in the military drone market due to its cost efficiency and high firepower. Drone swarms are a large group of small drones that coordinate with each other to perform actions such as a survey of enemy territories, search and rescue, and attacks on hostile objects. Drone swarm technology involves the production of several small, cheap drones rather than one large, expensive drone, therefore offering military drone manufacturers and end-users’ efficiency in terms of cost and time. With the use of advanced swarm technologies, the military and armed forces can effectively carry out lethal drone strikes in multiple places at once.”

ZenaTech (NASDAQ:ZENA) Announces Spider Vision Sensors Collaborates with Suntek Global to Apply for First Blue UAS Certification of IQ Nano Drone Sensor for US Defense – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a technology company specializing in AI (Artificial Intelligence) drone, Drone-as-a-Service (DaaS), enterprise SaaS and Quantum Computing solutions, announces that its subsidiaries ZenaDrone and Spider Vision Sensors are collaborating with Taiwan-based certified electronics manufacturer and partner, Suntek Global, to apply for the company’s first Blue UAS (Unmanned Aerial System) certified IQ Nano drone sensor for use by US Defense branches.

A drone sensor is a device onboard a drone that collects data, such as cameras for imaging, LiDAR for mapping, or infrared sensors for thermal detection. Military and Defense departments use small autonomous indoor drones like the 10X10 inch IQ Nano for various applications such as inventory management, indoor building reconnaissance, search and rescue, training simulations, and explosives detection.

“We have been working with Suntek on Blue UAS certification for our cameras and sensors since signing a partnership agreement in early December, in conjunction with our Spider Vision Sensors manufacturing subsidiary in Taiwan,” said CEO Shaun Passley, Ph.D. “Our immediate goal is to utilize Suntek’s expertise having achieved Blue UAS certification, to help us source and manufacture our own compliant components as well as help us with the Blue UAS application process for our components and the IQ Nano drone. If approved, the drone is placed on the Blue UAS Cleared List, allowing military and federal agencies to directly purchase our drones.

“The IQ Nano drone is ideal for indoor operations in scenarios requiring precision, maneuverability, and minimal collateral damage, and can also improve efficiency and costs managing inventories of supplies in the Department of Defense (DoD) warehouse and storage facilities,” concluded Dr. Passley.

The company also intends to file for the less stringent and faster to achieve Green UAS certification for IQ Nano sensor and the drone in the second quarter of 2025. The Green certification is considered a pathway to the Blue certification list, with the main difference being that it is a commercial certification for secure drones led by a drone industry association (AUVSI). The Blue UAS is a military-grade approval for DoD use and has strict country of origin requirements that must not include a set list of Chinese suppliers. The Blue UAS Certification Process for DoD use is managed by the Defense Innovation Unit (DIU) and includes additional security and performance evaluations. Continued… Read this full release for ZENA by visiting: https://www.financialnewsmedia.com/news-zena/

Other recent developments in the defense/military industry include:

Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a technology company in the defense, national security and global markets, recently announced that Kratos Unmanned Systems Division successfully executed a multi-week demonstration of its self-driving truck platooning system technology with FPInnovations, a Canadian research and technology organization that assesses, adapts and delivers solutions to Canada’s forest industry’s total value chain.

The Kratos developed self-driving system “kit”, which enables vehicles to be capable of autonomous driving, was deployed for evaluation in forestry operations in northern Québec, Canada. Deployment of this technology is intended to mitigate driver shortages, improve safety protocols, boost rural economic vitality, and contribute to the development of a regulatory framework for autonomous vehicles. The automated platooning technology performed exceptionally well in the challenging forestry environment and hauled both unloaded and loaded timber trailers. The Kratos system demonstrated precision navigation in automated platooning mode along complex off-pavement roadways with degraded access to GPS, steep grades, severe visibility-limiting dust, sub-freezing temperatures, rain, and under variable day/night/twilight lighting conditions.

ParaZero Technologies Ltd. (NASDAQ: PRZO), an aerospace company focused on safety systems for commercial unmanned aircrafts and defense Counter UAS systems, recently announced the successful launch of a pilot program utilizing its DropAir – Precision Airdrop System in a high-risk operational zone. The program, conducted in collaboration with a leading drone company, demonstrates the system’s ability to deliver critical blood transfusions rapidly and safely, significantly reducing the time needed to save lives in emergency situations.

The pilot program involves a military-operated drone, equipped with ParaZero’s DropAir System, capable of delivering numerous blood transfusions in a matter of minutes. This breakthrough in aerial logistics showcases the system’s ability to cut down critical response times, ensuring that life-saving medical supplies are able to reach those in need with speed and precision.

Lockheed Martin Corporation (NYSE: LMT) recently reported fourth quarter 2024 net sales of $18.6 billion, compared to $18.9 billion in the fourth quarter of 2023. Net earnings in the fourth quarter of 2024 were $527 million, or $2.22 per share, including $1.7 billion ($1.3 billion, or $5.45 per share, after-tax) of losses for classified programs, compared to $1.9 billion, or $7.58 per share, in the fourth quarter of 2023. Cash from operations was $1.0 billion in the fourth quarter of 2024, after a pension contribution of $990 million, compared to $2.4 billion in the fourth quarter of 2023. Free cash flow was $441 million in the fourth quarter of 2024, after a pension contribution of $990 million, compared to $1.7 billion in the fourth quarter of 2023. Fourth quarter 2024 results included 13 weeks, compared to 14 weeks for fourth quarter 2023, which had an unfavorable impact on sales volume across the company.

Net sales in 2024 were $71.0 billion, compared to $67.6 billion in 2023. Net earnings in 2024 were $5.3 billion, or $22.31 per share, including $2.0 billion ($1.5 billion, or $6.16 per share, after-tax) of losses for classified programs, compared to $6.9 billion, or $27.55 per share, in 2023. Cash from operations was $7.0 billion in 2024, after a pension contribution of $990 million, compared to $7.9 billion in 2023. Free cash flow was $5.3 billion in 2024, after a pension contribution of $990 million, compared to $6.2 billion in 2023.

“2024 was another successful and productive year for Lockheed Martin. Our 5% sales growth and record year-end backlog of $176 billion demonstrate the enduring global demand for our advanced defense technology and systems,” said Jim Taiclet, Lockheed Martin’s Chairman, President and CEO. “In the year, we invested over $3 billion in advancing our nation’s security through research and development and capital investment to support our customers’ missions, drive innovation and transform our operations with the latest digital and manufacturing technologies. Our strong and consistent performance also enabled us to again return greater than 100% of free cash flow to our shareholders in 2024.”

Collins Aerospace, an RTX (NYSE: RTX) business, was recently awarded a follow-on contract with a potential for up to $904 million over five years to continue development of the U.S. Navy’s Cooperative Engagement Capability, a system that integrates sensors across surface, land, and air platforms to enable Integrated Fire Controls. RTX has been the sole provider of the Cooperative Engagement Capability (CEC) since 1985. The new sole source contract follows an existing five-year Design Agent contract.

The CEC is a critical network for the U.S. Navy that connects multiple platforms and associated sensors together and provides composite tracking to combat and weapons systems. Collins will add new capabilities to the system including increased interoperability, expanded weapon and sensor coordination and integration of new data sources.

About FN Media Group:

At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases

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

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

Contact Information:
Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757

SOURCE: FN Media Group

The MIL Network –

January 31, 2025

MIL-OSI: Invesco Ltd: Form 8.3 – American Axle & Manufacturing Holdings Inc; Opening Position disclosure

Source: GlobeNewswire (MIL-OSI)

FORM 8.3

OPENING POSITION DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the “Code”)

KEY INFORMATION

(a)

Full name of discloser:

Invesco Ltd.

(b)

Owner or controller of interests and short positions disclosed, if different from 1(a):
The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.

(c)

Name of offeror/offeree in relation to whose relevant securities this form relates:
Use a separate form for each offeror/offeree

American Axle & Manufacturing Holdings, Inc.

(d)

If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:

(e)

Date position held/dealing undertaken:
For an opening position disclosure, state the latest practicable date prior to the disclosure

29.01.2025

(f)

In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
If it is a cash offer or possible cash offer, state “N/A”

Yes, Dowlais Group plc

POSITIONS OF THE PERSON MAKING THE DISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a)

Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:

USD 0.01 common US0240611030

Interests

Short Positions

Number

(1)

Relevant securities owned and/or controlled:

1,889,922

1.60

(2)

Cash-settled derivatives:

(3)

Stock-settled derivatives (including options) and agreements to purchase/sell:

Total

1,889,922

1.60

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b)

Rights to subscribe for new securities (including directors’ and other employee options)

Class of relevant security in relation to which subscription right exists:

Details, including nature of the rights concerned and relevant percentages:

DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a)

Purchases and sales

Class of relevant security

Purchase/sale

Number of securities

Price per unit

(b)

Cash-settled derivative transactions

Class of relevant security

Product description e.g. CFD

Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position

Number of reference securities

Price per unit

(c)

Stock-settled derivative transactions (including options)

(i)

Writing, selling, purchasing or varying

Class of relevant security

Product description e.g. call option

Writing, purchasing, selling, varying etc.

Number of securities to which option relates

Exercise price per unit

Type e.g. American, European etc.

Expiry date

Option money paid/ received per unit

(ii)

Exercise

Class of relevant security

Product description e.g. call option

Exercising/ exercised against

Number of securities

Exercise price per unit

(d)

Other dealings (including subscribing for new securities)

Class of relevant security

Nature of dealing e.g. subscription, conversion

Details

Price per unit (if applicable)

OTHER INFORMATION

(a)

Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:
Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

None

(b)

Agreements, arrangements, or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:
(i) the voting rights of any relevant securities under any option; or
(ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced:
If there are no such agreements, arrangements or understandings, state “none”

None

Is a Supplemental Form 8 (Open Positions) attached?

Date of disclosure

30.01.2025

Contact name

Philippa Holmes

Telephone number

+441491417447

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

The MIL Network –

January 31, 2025

MIL-OSI: Military Drones Market Heating Up as Multi-Billion Dollar Industry Realizing Rapidly Increasing Demand

Source: GlobeNewswire (MIL-OSI)

PALM BEACH, Fla. , Jan. 30, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Military drone refers to unmanned aerial vehicles that are specifically used for military purposes such as border surveillance, battle damage management, combat operations, communication, delivery, and anti-terrorism weaponry. The main types of military drones are fixed-wing, rotary-wing, and hybrid. A fixed-wing drone is a plane that doesn’t have a human pilot on board. Fixed-wing UAVs can be commanded remotely by a human or Autonomously by onboard systems. The different types of drones include MALE, HALE, TUAV, UCAV, SUAV and involve various technologies such as remotely operated, semi-autonomous, autonomous. It is used in Search And Rescue, national defense, military exercises, and others. According to a report from The Business Research Company, the military drones market size has grown strongly in recent years. It will grow from $15.93 billion in 2024 to $17.05 billion in 2025 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to increasing military expenditure, increasing the use of military drones, increasing government funding for military drones and low interest rates. The report said: “The military drones market size is expected to see strong growth in the next few years. The growth in the forecast period can be attributed to an increase in government funds and increasing internal and external security threats. Major trends in the forecast period include strategic mergers and acquisitions, focus on use of 3D printing, use of the internet of things (IoT), focus on implementing autonomous systems and focusing on implementing emerging technologies such as artificial intelligence (AI).” Active Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), Northrop Grumman Corporation (NYSE: NOC), AeroVironment, Inc. (NASDAQ: AVAV), The Boeing Company (NYSE: BA), Red Cat Holdings, Inc. (NASDAQ: RCAT).

The Business Research Company concluded: “The increasing terrorism is expected to boost the growth of the military drone market going forward. Terrorism refers to an act of violence that would put others in danger while showing a blatant disdain for the harm IT would do. Governments and military organizations often use military drones in counter-terrorism efforts. Drones can provide valuable intelligence, surveillance, and reconnaissance (ISR) capabilities to monitor and track terrorist activities. The need for real-time data and actionable intelligence in counter-terrorism operations drives the demand for military drones… Asia-Pacific was the largest region in military drones’ market in 2024. Western Europe is expected to be the fastest-growing region in the global military drones market share during the forecast period.”

ZenaTech (NASDAQ:ZENA) Announces Spider Vision Sensors Collaborates with Suntek Global to Apply for First Blue UAS Certification of IQ Nano Drone Sensor for US Defense – ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) (“ZenaTech”), a technology company specializing in AI (Artificial Intelligence) drone, Drone-as-a-Service (DaaS), enterprise SaaS and Quantum Computing solutions, announces that its subsidiaries ZenaDrone and Spider Vision Sensors are collaborating with Taiwan-based certified electronics manufacturer and partner, Suntek Global, to apply for the company’s first Blue UAS (Unmanned Aerial System) certified IQ Nano drone sensor for use by US Defense branches.

A drone sensor is a device onboard a drone that collects data, such as cameras for imaging, LiDAR for mapping, or infrared sensors for thermal detection. Military and Defense departments use small autonomous indoor drones like the 10X10 inch IQ Nano for various applications such as inventory management, indoor building reconnaissance, search and rescue, training simulations, and explosives detection.

“We have been working with Suntek on Blue UAS certification for our cameras and sensors since signing a partnership agreement in early December, in conjunction with our Spider Vision Sensors manufacturing subsidiary in Taiwan,” said CEO Shaun Passley, Ph.D. “Our immediate goal is to utilize Suntek’s expertise having achieved Blue UAS certification, to help us source and manufacture our own compliant components as well as help us with the Blue UAS application process for our components and the IQ Nano drone. If approved, the drone is placed on the Blue UAS Cleared List, allowing military and federal agencies to directly purchase our drones.

“The IQ Nano drone is ideal for indoor operations in scenarios requiring precision, maneuverability, and minimal collateral damage, and can also improve efficiency and costs managing inventories of supplies in the Department of Defense (DoD) warehouse and storage facilities,” concluded Dr. Passley.

The company also intends to file for the less stringent and faster to achieve Green UAS certification for IQ Nano sensor and the drone in the second quarter of 2025. The Green certification is considered a pathway to the Blue certification list, with the main difference being that it is a commercial certification for secure drones led by a drone industry association (AUVSI). The Blue UAS is a military-grade approval for DoD use and has strict country of origin requirements that must not include a set list of Chinese suppliers. The Blue UAS Certification Process for DoD use is managed by the Defense Innovation Unit (DIU) and includes additional security and performance evaluations. Continued… Read this full release for ZENA by visiting: https://www.financialnewsmedia.com/news-zena/

Other recent developments in the defense/military industry include:

Northrop Grumman Corporation (NYSE: NOC) recently announced that its fourth quarter and full-year 2024 financial results will be posted on its investor relations website on January 30, 2025. Prior to the market opening, the company will issue an advisory release notifying the public of the availability of the complete and full text earnings release on the company’s website at http://investor.northropgrumman.com.

The company’s fourth quarter and 2024 conference call will be held at 9 a.m. Eastern time, Thursday, January 30, 2025. The conference call will be webcast live on Northrop Grumman’s website at http://investor.northropgrumman.com. Replays of the call will be available on the Northrop Grumman website for a limited time. Presentations may be supplemented by a series of slides appearing on the company’s investor relations home page.

AeroVironment, Inc. (NASDAQ: AVAV) recently reported financial results for the fiscal second quarter ended October 26, 2024. Second Quarter Highlights were: Record second quarter revenue of $188.5 million up 4% year-over-year; Second quarter net income of $7.5 million and non-GAAP adjusted EBITDA of $25.9 million; Funded backlog of $467.1 million as of October 26, 2024; and announced its entry into an agreement for the acquisition of BlueHalo in an all-stock transaction with an enterprise value of approximately $4.1 billion.

“AeroVironment continues to deliver strong results, including record second-quarter revenue along with a healthy funded backlog that is 25% higher than the prior quarter,” said Wahid Nawabi, AeroVironment chairman, president and chief executive officer. “Key wins from our Loitering Munition Systems segment continue to drive growth for the company.

“We expect our proposed acquisition of BlueHalo to further advance our growth opportunities with a highly complementary portfolio of products, customers and capabilities in key defense space and intelligence sectors and establish AeroVironment as the next generation defense technology company for our customers. We look forward to continued momentum beyond fiscal year 2025.”

The Boeing Company (NYSE: BA) recently released Fourth Quarter Results which were: Finalized the International Association of Machinists and Aerospace Workers (IAM) agreement and resumed production across the 737, 767 and 777/777X programs; Financials reflect previously announced impacts of the IAM work stoppage and agreement, charges for certain defense programs, and costs associated with workforce reductions announced last year; Revenue of $15.2 billion, GAAP loss per share of ($5.46) and core (non-GAAP) loss per share of ($5.90); and Operating cash flow of ($3.5) billion; cash and marketable securities of $26.3 billion. Full Year 2024; Delivered 348 commercial airplanes and recorded 279 net orders; Total company backlog grew to $521 billion, including over 5,500 commercial airplanes.

The Boeing Company [NYSE: BA] recorded fourth quarter revenue of $15.2 billion, GAAP loss per share of ($5.46) and core loss per share (non-GAAP) of ($5.90) (Table 1) primarily reflecting previously announced impacts of the IAM work stoppage and agreement, charges for certain defense programs, and costs associated with workforce reductions announced last year. Boeing reported operating cash flow of ($3.5) billion and free cash flow of ($4.1) billion (non-GAAP).

“We made progress on key areas to stabilize our operations during the quarter and continued to strengthen important aspects of our safety and quality plan,” said Kelly Ortberg, Boeing president and chief executive officer. “My team and I are focused on making the fundamental changes needed to fully recover our company’s performance and restore trust with our customers, employees, suppliers, investors, regulators and all others who are counting on us.”

Red Cat Holdings, Inc. (NASDAQ: RCAT), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, recently announced it has secured new orders for its Edge 130 drone from the Army National Guard and another U.S. Government Agency (OGA), totaling $518,000.

FlightWave, a leading provider of VTOL drone, sensor and software solutions was acquired by Red Cat in September 2024. The acquisition brought FlightWave’s flagship drone, the Edge 130 Blue into its family of low-cost, portable unmanned reconnaissance and precision lethal strike systems. FlightWave’s size, weight and vertical take off capabilities makes it ideal for maritime operations and littoral environments.

About FN Media Group:

At FN Media Group, via our top-rated online news portal at www.financialnewsmedia.com, we are one of the very few select firms providing top tier one syndicated news distribution, targeted ticker tag press releases and stock market news coverage for today’s emerging companies. #tickertagpressreleases #pressreleases

Follow us on Facebook to receive the latest news updates: https://www.facebook.com/financialnewsmedia
Follow us on Twitter for real time Market News: https://twitter.com/FNMgroup
Follow us on LinkedIn: https://www.linkedin.com/in/financialnewsmedia/

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

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

Contact Information:
Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757

SOURCE: FN Media Group

The MIL Network –

January 31, 2025

MIL-OSI: Invesco Ltd: Form 8.3 – Dowlais Group PLC; Opening Position disclosure

Source: GlobeNewswire (MIL-OSI)

FORM 8.3

OPENING POSITION DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the “Code”)

KEY INFORMATION

(a)

Full name of discloser:

Invesco Ltd.

(b)

(c)

Name of offeror/offeree in relation to whose relevant securities this form relates:
Use a separate form for each offeror/offeree

Dowlais Group plc

(d)

If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree:

(e)

Date position held/dealing undertaken:
For an opening position disclosure, state the latest practicable date prior to the disclosure

29.01.2025

(f)

In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer?
If it is a cash offer or possible cash offer, state “N/A”

Yes, American Axle & Manufacturing Holdings, Inc.

POSITIONS OF THE PERSON MAKING THE DISCLOSURE

(a)

Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:

1p ordinary GB00BMWRZ071

Interests

Short Positions

Number

(1)

Relevant securities owned and/or controlled:

360,552

0.02

(2)

Cash-settled derivatives:

(3)

Stock-settled derivatives (including options) and agreements to purchase/sell:

Total

360,552

0.02

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b)

Rights to subscribe for new securities (including directors’ and other employee options)

Class of relevant security in relation to which subscription right exists:

Details, including nature of the rights concerned and relevant percentages:

DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

The currency of all prices and other monetary amounts should be stated.

(a)

Purchases and sales

Class of relevant security

Purchase/sale

Number of securities

Price per unit

(b)

Cash-settled derivative transactions

Class of relevant security

Product description e.g. CFD

Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position

Number of reference securities

Price per unit

(c)

Stock-settled derivative transactions (including options)

(i)

Writing, selling, purchasing or varying

Class of relevant security

Product description e.g. call option

Writing, purchasing, selling, varying etc.

Number of securities to which option relates

Exercise price per unit

Type e.g. American, European etc.

Expiry date

Option money paid/ received per unit

(ii)

Exercise

Class of relevant security

Product description e.g. call option

Exercising/ exercised against

Number of securities

Exercise price per unit

(d)

Other dealings (including subscribing for new securities)

Class of relevant security

Nature of dealing e.g. subscription, conversion

Details

Price per unit (if applicable)

OTHER INFORMATION

(a)

Indemnity and other dealing arrangements

None

(b)

Agreements, arrangements, or understandings relating to options or derivatives

None

Is a Supplemental Form 8 (Open Positions) attached?

Date of disclosure

30.01.2025

Contact name

Philippa Holmes

Telephone number

+441491417447

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

The MIL Network –

January 31, 2025

FOR INFORMATION CONTACT:

Peter Morrison President & CEO (815) 847-7500		Todd James Chief Financial Officer (815) 847-7500