NewzIntel.com

Category: KB

  • MIL-OSI Security: Harbour Grace — Charges anticipated against off-road vehicle operator who attempted to evade traffic stop

    Source: Royal Canadian Mounted Police

    Charges are pending against a 42-year-old operator of an off-road vehicle who attempted to evade Harbour Grace RCMP during a traffic stop in Harbour Grace on October 26, 2024.

    At approximately 11:30 p.m. on Saturday, police observed a side-by-side, with two occupants who were not wearing helmets, travelling at a high rate of speed on Harvey Street. The officer was unable to initiate a traffic stop and engaged another officer, who was also on Harvey Street, for assistance. In anticipation of the off-road vehicle approaching, the second officer positioned the police vehicle in the middle of the road and activated emergency lights. Upon approach of the police vehicle, the off-road vehicle operator attempted to evade the traffic stop by turning around in the roadway and subsequently crashed the side-by-side on the roadway.

    The passenger, a 48-year-old woman, was transported to Carbonear General Hospital with non-life-threatening injuries. The driver, who was without insurance or registration, was uninjured.

    The side by side was impounded as part of the investigation. Charges are anticipated. The investigation is continuing.

    RCMP NL continues to fulfill its mandate to protect public safety, enforce the law, and ensure the delivery of priority policing services in Newfoundland and Labrador.

    MIL Security OSI –

  • MIL-OSI: 94% of Canadians expect holiday spending to cause financial stress

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Oct. 30, 2024 (GLOBE NEWSWIRE) — As the holiday season approaches, a startling 94 per cent of Canadians say they expect it to cause financial stress, according to a new survey from CPA Canada and BDO Debt Solutions.

    Nearly 40 per cent (39%) of respondents reported they expect to feel more financially stressed this year, while 55 per cent said they anticipate the same amount as last year.

    Additionally, 56 per cent of respondents suggest they’ll rely on credit cards to cover their holiday expenses.

    Canadians are planning to spend eight per cent less this year on holiday gifts—an average of $595, down from $645 last year.

    “The notion that this should be a time of joy and generosity is sharply contrasted by the reality that many will start the new year in debt,” says Li Zhang, financial literacy leader at CPA Canada. “Given consumers are grappling with a consistently rising cost of living, it’s not surprising that the festive season has become a major source of anxiety.”

    “It’s concerning that more than half of Canadians are relying on credit cards for holiday expenses.” says Nancy Snedden, Licensed Insolvency Trustee and President at BDO Debt Solutions. “Using credit cards for holiday shopping may ease the immediate financial burden, but it can create a much bigger problem down the line if balances aren’t paid off quickly.”

    Other stand-out findings:

    • Generational stress: Stress peaks among younger generations—Millennials and Gen Z report feeling the highest levels of stress during the holiday season.
    • Expecting to overspend: While most respondents plan to maintain the same budget as last year, 18 per cent said they are likely to overspend.
    • Credit card crutch: Credit cards were tied with savings and regular income as the primary way Canadians planned to finance their holiday spending. Younger generations mostly feel the weight of this burden, with 59 per cent of respondents ages 18 to 34 relying on credit cards.
    • To travel or not to travel: 57 per cent of respondents are choosing not to travel this holiday season—with those who do plan to travel expecting to spend an average of 33 per cent more at $1,623 compared with $1,219 last year.
    • Not feeling philanthropic: Only 24 per cent of respondents intend to donate to charity this holiday season, reflecting a drop in generosity from last year’s 30 per cent.

    Survey methodology
    Survey methodology Leger conducted the 2024 Holiday Spending OMNIbus online survey from Sept. 27 to Sept.29, 2024, among 1,626 randomly selected Canadians aged 18 and over. For the full survey results including regional breakdowns or to schedule an interview, please contact media@cpacanada.ca.

    The MIL Network –

  • MIL-OSI: Deep Origin Launches First and Only Drug Discovery Assistant with Conversational AI Interface and Top Docking Technology

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, Oct. 30, 2024 (GLOBE NEWSWIRE) — Deep Origin, the company helping scientists solve diseases and extend healthspan by building tools that simplify R&D, today announced the launch of Balto, the first drug discovery assistant of its kind using proprietary, state-of-the-art molecular modeling tools. Developed by top AI engineers and computational chemists, its AI and physics-based docking and chemical property prediction models outperforms open source and other commercial tools by up to a 10x greater enrichment factor. Balto democratizes access to these models with a simple, conversational interface where users can load a protein structure, dock small molecules to it, analyze pose and docking score, and predict chemical properties. Unlike other chat solutions, Balto is aware of scientific context and concepts. Balto offers users a convenient way to gather information from multiple databases, and synthesize academic literature, simplifying the research process and increasing efficiency.

    Today, developing a single new drug is a complex process that can take 12–15 years and cost in excess of $1 billion, without the guarantee of commercial success. This is due in part to the cost of lab and clinical validations, and the challenge of integrating a wide breadth of scientific knowledge in different disciplines and skill sets, ranging from human physiology to chemical synthesis. While tools exist to help find and filter potential drugs, their use is primarily limited to computational chemists because of the steep learning curve. Balto makes these tools accessible to medicinal chemists, who outnumber computational chemists by 10 to 1. This reduces a key bottleneck in drug discovery, enabling far more researchers to simulate potential drugs before making and testing them.

    “Balto helps medicinal chemists and research teams expand their capabilities, spending less time searching for information and streamlining access to the state of the art simulation. The unique benefit of Balto is that it gathers data easily across the web databases and moves it into molecular simulations, producing results all within the same interface. We have already seen enthusiasm from research labs, biotech, and pharma teams around the world,” says Michael Antonov, CEO of Deep Origin. “We saw a great opportunity with Balto and our docking tools to make work easier for thousands of researchers. Balto is a significant step for the productivity of the drug discovery community and for us on our mission to model, organize, and accelerate biological R&D, enabling cures through deep understanding of science.”

    “The quality and accuracy of our molecular models sets us apart,” says Garyk Papoian, CSO. “Stories of failures from researchers using existing tools highlighted the need for something better. That’s why we built our own suite of molecular modeling tools, from pocket-finding to docking and chemical property predictions. I’m incredibly proud of our team, because we haven’t just produced one top-performing model for one problem in molecular modeling – we’ve produced top models for each step.”

    Balto is now accessible here. With Balto, users unlock:

    • The ability to explore world-best molecular modeling without any prior training – Balto allows scientists to dive into complex protein-small molecule simulations without needing extensive training or expertise in computational chemistry
    • The time-saving potential to load and interrogate molecular information from wide-ranging sources, including PDFs, in a simple conversational interface. Once the data is loaded, it can be fed directly to the simulation tools. Users can learn about molecular simulations as they interact with Balto – the user experience is seamless and requires no learning curve, similar to talking to a colleague
    • Greater enrichment factor compared to several other open-source and commercial tools, giving researchers better results in real-world use
    • Affordable pricing to democratize access for individual use – Balto Basic will be priced at $32/month

    About Deep Origin
    Deep Origin is the only biotech company that combines physics, AI, and computational infrastructure to enable faster and better drug discovery. Its mission is to help scientists solve diseases and extend healthspan by building tools that simplify R&D, simulate biology, and untangle the complexity of life. Its tools enable scientists to generate compounds quickly, predict their efficacy reliably, and manufacture them inexpensively. We foster collaboration by bringing together scientists, engineers, and entrepreneurs to explore the unknown and decipher the mechanisms of life. Discover more at www.deeporigin.com.

    Media Contact
    Leisha Douglass
    deeporigin@karbocom.com

    The MIL Network –

  • MIL-OSI: NANO Nuclear Energy Closes Full Over-Allotment Option Raising Total Funds of Over $40 Million From Recent Underwritten Follow-On Offering

    Source: GlobeNewswire (MIL-OSI)

    New York, N.Y., Oct. 30, 2024 (GLOBE NEWSWIRE) — NANO Nuclear Energy Inc. (NASDAQ: NNE) (“NANO Nuclear”), a leading vertically integrated advanced nuclear technology company developing proprietary, portable, and clean energy solutions, today announced the October 29, 2024 closing of the sale of an additional 317,646 shares of its common stock at $17.00 per share pursuant to the full exercise of underwriter’s over-allotment option granted in connection with NANO Nuclear’s recent underwritten follow-on public offering which closed on October 25, 2024.

    The gross proceeds from this public offering, inclusive of the full over-allotment exercise, before deducting underwriting discounts and other offering expenses, were approximately $41.4 million, and net proceeds were approximately $37.7 million.

    “The investor demand for this follow-on offering was significant, and we are grateful for the full exercise of the underwriter’s over-allotment option,” said Jay Yu, Founder and Chairman of NANO Nuclear Energy. “With the support of our investors, we are building a dynamic, commercially focused nuclear energy company led by world-class nuclear engineers and scientists as well as esteemed national leaders in military and civilian energy policy, former nuclear regulatory licensing and government energy professionals, all with the goal of developing the best in class, smaller, cheaper and safer advanced portable nuclear microreactors and other nuclear energy technologies and services. We look forward to using these offering proceeds to innovate, grow and drive value for our shareholders and the nuclear energy sector.”

    The Benchmark Company, LLC acted as the sole book-running representative for the offering. Ellenoff Grossman & Schole LLP acted as counsel to NANO Nuclear. Lucosky Brookman LLP acted as counsel to The Benchmark Company. Withum Smith+Brown PC are NANO Nuclear’s registered independent auditors.

    Registration statements relating to this public offering were filed with the Securities and Exchange Commission and declared. This registration statement can be obtained by visiting the SEC website at www.sec.gov. Please see such registration statement for additional information regarding NANO Nuclear.

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

    About NANO Nuclear Energy Inc.

    NANO Nuclear Energy Inc. (NASDAQ: NNE) is an advanced technology-driven nuclear energy company seeking to become a commercially focused, diversified, and vertically integrated company across four business lines: (i) cutting edge portable microreactor technology, (ii) nuclear fuel fabrication, (iii) nuclear fuel transportation and (iv) nuclear industry consulting services. NANO Nuclear believes it is the first portable nuclear microreactor company to be listed publicly in the U.S.

    Led by a world-class nuclear engineering team, NANO Nuclear’s products in technical development are “ZEUS”, a solid core battery reactor, and “ODIN”, a low-pressure coolant reactor, each representing advanced developments in clean energy solutions that are portable, on-demand capable, advanced nuclear microreactors.

    Advanced Fuel Transportation Inc. (AFT), a NANO Nuclear subsidiary, is led by former executives from the largest transportation company in the world aiming to build a North American transportation company that will provide commercial quantities of HALEU fuel to small modular reactors, microreactor companies, national laboratories, military, and DOE programs. Through NANO Nuclear, AFT is the exclusive licensee of a patented high-capacity HALEU fuel transportation basket developed by three major U.S. national nuclear laboratories and funded by the Department of Energy. Assuming development and commercialization, AFT is expected to form part of the only vertically integrated nuclear fuel business of its kind in North America.

    HALEU Energy Fuel Inc. (HEF), a NANO Nuclear subsidiary, is focusing on the future development of a domestic source for a High-Assay, Low-Enriched Uranium (HALEU) fuel fabrication pipeline for NANO Nuclear’s own microreactors as well as the broader advanced nuclear reactor industry.

    NANO Nuclear Space Inc. (NNS), a NANO Nuclear subsidiary, is exploring the potential commercial applications of NANO Nuclear’s developing micronuclear reactor technology in space. NNS is focusing on applications such as power systems for extraterrestrial projects and human sustaining environments, and potentially propulsion technology for long haul space missions. NNS’ initial focus will be on cis-lunar applications, referring to uses in the space region extending from Earth to the area surrounding the Moon’s surface.

    For further information, please contact:

    Email: IR@NANONuclearEnergy.com
    Business Tel: (212) 634-9206
    PLEASE FOLLOW OUR SOCIAL MEDIA PAGES HERE:
    NANO Nuclear Energy LINKEDIN
    NANO Nuclear Energy YOUTUBE
    NANO Nuclear Energy TWITTER

    Cautionary Note Regarding Forward Looking Statements

    This news release and statements of NANO Nuclear’s management in connection with this news release or related events contain or may contain “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements (including statements related to the public offering and the proposed use of proceeds from such offering, as described herein) related to future events, which may impact our expected future business and financial performance, and often contain words such as “seek,” “expects”, “anticipates”, “intends”, “plans”, “believes”, “potential”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve significant known and unknown risks, uncertainties and other factors, some of which may be beyond our control. Readers are cautioned that actual results may differ materially and adversely from the results implied in forward-looking statements. For NANO Nuclear, particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include but are not limited to the following: (i) risks related to our U.S. Department of Energy (“DOE”) or related state nuclear fuel licensing submissions, (ii) risks related the development of new or advanced technology, including difficulties with design and testing, cost overruns, regulatory delays and the development of competitive technology, (iii) our ability to obtain contracts and funding to be able to continue operations, (iv) risks related to uncertainty regarding our ability to technologically develop and commercially deploy a competitive advanced nuclear reactor or other technology in the timelines we anticipate, if ever, (v) risks related to the impact of government regulation and policies including by the DOE and the U.S. Nuclear Regulatory Commission, including those associated with the recently enacted ADVANCE Act, and (vi) similar risks and uncertainties associated with the business of a start-up business operating a highly regulated industry. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all of the factors that could cause actual results to differ from those discussed in any forward-looking statement, and the Company therefore encourages investors to review other factors that may affect future results in the Company’s filings with the SEC, which are available for review at www.sec.gov and at https://ir.nanonuclearenergy.com/financial-information/sec-filings. Readers are cautioned not to place undue reliance on forward-looking statements, which apply only as of the date of this news release, and forward-looking statements should not be relied upon as a predictor of actual results. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

    The MIL Network –

  • MIL-OSI: Renault and Cerence Partner to Bring Generative AI to Reno, the Renault Connected Avatar

    Source: GlobeNewswire (MIL-OSI)

    BURLINGTON, Mass., Oct. 30, 2024 (GLOBE NEWSWIRE) — Cerence Inc. (NASDAQ: CRNC), AI for a world in motion, today announced its expanded partnership with Renault to bring generative AI-powered capabilities and human-like interaction to the automaker’s next-generation, multi-modal in-car companion, Reno.

    Reno, the official Renault avatar, is an intelligent, helpful, and endearing in-car companion that brings customers a more intuitive and fun driving experience. Expanding on Renault and Cerence’s multi-year partnership to bring Reno to life with humanized, voice-powered interaction, Renault will now leverage generative AI-powered Cerence Chat Pro to advance Reno’s capabilities and bring Reno’s intelligence to an entirely new level. Cerence Chat Pro, a uniquely intelligent, automotive-grade large language model integration, will enable Renault customers to engage Reno in fun and conversational chit-chat, leveraging a multitude of sources, including ChatGPT, to provide accurate and relevant responses to nearly every query imaginable. The interaction with Reno will be even more enhanced by Cerence’s neural text-to-speech, which enables Reno to convey different emotions in its responses to drivers, including apprehensive, cheerful, empathetic, sad, and serious.  

    “Reno marks the next generation of the Renault in-car experience, offering intuitive and natural interaction that brings added value and enjoyment to our customers,” said Luc Julia, Chief Scientific Officer, Renault Group. “With Cerence Chat Pro, we’re leveraging the latest in generative AI but making it applicable to the driving experience, bringing a new level of intelligence and capability to Reno that will enhance learning to use an electric vehicle, as well as safety and comfort for the drivers and the passengers.”

    At the foundation of Reno’s new, generative AI-powered capabilities is a deeply integrated, voice-enabled experience based on Cerence Assistant. In addition to voice-powered control of key vehicle features and functions, Reno leverages car data and sensors to proactively suggest ways to enhance driving performance, like changing the driving mode to maximize range or turning on the windshield defroster in certain weather. Reno can also answer the most commonly asked questions about the car, delivering credible and accurate information direct from Renault sources, powered by Cerence Car Knowledge.

    “We’re proud to continue our long-term partnership with Renault to bring advanced capabilities to Reno as it transforms the in-car interaction experience for Renault customers,” said Christian Mentz, Chief Revenue Officer, Cerence. “As we look to the future of the in-car experience, Reno marks an important milestone in bringing more human-like interaction to the car – a fun, knowledgeable companion that delivers a host of expanded capabilities to support drivers’ every need.”

    Reno made its debut in Renault 5 E-Tech electric in September 2024 and will also be available in Renault 4 E-Tech electric in 2025 .

    To learn more about Cerence, visit www.cerence.com, and follow the company on LinkedIn.

    About Cerence Inc.
    Cerence (NASDAQ: CRNC) is the global industry leader in creating unique, moving experiences for the mobility world. As an innovation partner to the world’s leading automakers and mobility OEMs, it is helping advance the future of connected mobility through intuitive, AI-powered interaction between humans and their vehicles, connecting consumers’ digital lives to their daily journeys no matter where they are. Cerence’s track record is built on more than 20 years of knowledge and 500 million cars shipped with Cerence technology. Whether it’s connected cars, autonomous driving, e-vehicles, or two-wheelers, Cerence is mapping the road ahead. For more information, visit www.cerence.com.  

    About Renault
    Renault, a historic mobility brand and pioneer of electric vehicles in Europe, has always developed innovative vehicles. With the ‘Renaulution’ strategic plan, Renault has embarked on an ambitious, value-generating transformation, moving towards a more competitive, balanced and electrified range. Its ambition is to embody modernity and innovation in technology, energy and mobility services in the automotive industry and beyond.

    Contact Information

    Kate Hickman | Tel: 339-215-4583 | Email: kate.hickman@cerence.com

    The MIL Network –

  • MIL-OSI: American Rebel Light Beer Expands Distribution Network to the Commonwealth of Kentucky with Clark Distributing Company

    Source: GlobeNewswire (MIL-OSI)

    Nashville, TN, Oct. 30, 2024 (GLOBE NEWSWIRE) — American Rebel Holdings, Inc. (NASDAQ: AREB) (“American Rebel” or the “Company”), a designer, manufacturer, and marketer of branded safes, personal security and self-defense products and apparel, and American Rebel Beer (americanrebelbeer.com), entered an agreement in the Commonwealth of Kentucky with premier distributor Clark Distributing Company (ccclark.com) to distribute American Rebel Light Lager – America’s Patriotic Beer.

    “We are excited to enter the Kentucky market with Clark Distributing Company,” said Andy Ross, Chief Executive Officer of American Rebel. “Clark Distributing Company is an institution in the state of Kentucky and adding them to our distributor roster will make American Rebel Beer available in another key state within our targeted expansion across this patriotic, God-fearing country of ours.”

    Clark Distributing Company will begin distributing American Rebel Beer by the end of the year. Adding Clark will allow American Rebel to service retail and restaurant customers within Clark’s territory throughout Kentucky. American Rebel Beer recently introduced a 16oz “Tall Boy” can to its lineup joining the 12oz can.

    “Clark Distributing Company provides American Rebel Light Beer a premier partner that has been around for over 55 years. Clark will help us reach new customers and continue positioning our beer for additional growth,” added American Rebel Beverages, LLC President Todd Porter.

    Clark Distributing Company COO Dave Mansky commented on the new partnership, “We think that by leveraging our long history, deep relationships, and extensive infrastructure throughout the Commonwealth, we will be able to get American Rebel Light Beer to our over 5,000 customers who have been looking for a non-craft lager alternative.”

    American Rebel Light Beer is produced in partnership with AlcSource, the largest integrated provider of beverage development, sourcing, and production solutions in the U.S. American Rebel Light Beer is a Premium Light Lager and is America’s Patriotic, God-Fearing, Constitution-Loving, National Anthem-Singing, Stand Your Ground Beer.

    For an updated list of locations featuring American Rebel Light, visit americanrebelbeer.com.

    About American Rebel Holdings, Inc.

    American Rebel Holdings, Inc. (NASDAQ: AREB) operates primarily as a designer, manufacturer and marketer of branded safes, personal security and self-defense products, and American Rebel Beer (americanrebelbeer.com). The Company also designs and produces branded apparel and accessories. To learn more, visit americanrebel.com. For investor information, visit americanrebel.com/investor-relations.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB; AREBW) (the “Company,” “American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include continued increase in revenues, actual size of Clark Distributing Company, actual sales to be derived from Clark Distributing Company, implied or perceived benefits resulting from the Clark Distributing Company agreement, actual launch timing and availability of American Rebel Beer in additional markets, our ability to effectively execute our business plan, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2022. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

    Company Contact:
    info@americanrebel.com

    James “Todd” Porter
    American Rebel Beverages, LLC
    tporter@americanrebelbeer.com

    Investor Relations:
    Brian M. Prenoveau, CFA
    MZ Group – MZ North America
    areb@mzgroup.us
    561-489-5315

    Attachment

    The MIL Network –

  • MIL-OSI: IQST – iQSTEL to Present at the AI & Technology Virtual Investor Conference October 31st

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 30, 2024 (GLOBE NEWSWIRE) — iQSTEL Inc (OTCQX: IQST), based in Miami, Florida, focused on Telecommunications, Fintech, Cybersecurity and AI Services, today announced that Jose E. Puente, CEO of Reality Border (iQSTEL´s Subsidiary) and Leandro Jose Iglesias, CEO & President of iQSTEL, will present live at the AI & Technology Virtual Investor Conference hosted by VirtualInvestorConferences.com, on October 31st, 2024.

    DATE: October 31st
    TIME: 11:00 – 11:30 am ET
    LINK: https://bit.ly/3ASgcyv
    Available for 1×1 meetings: November 4th and 5th

    This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

    It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.  

    Learn more about the event at www.virtualinvestorconferences.com.

    Recent iQSTEL Highlights

    1. Launch of High-Margin AIRWEB AI Solutions
      iQSTEL’s strategic focus on high-margin products, as shown by the launch of AIRWEB, is central to its growth plan. AIRWEB leverages the latest AI technology, positioning iQSTEL as a competitive player in the $741 billion global contact center market expected by 2030.
    2. Partnership Expansion with Cycurion
      iQSTEL has partnered with Cycurion to provide cybersecurity solutions, extending its high-tech, high-margin product offerings. This aligns with iQSTEL’s strategic growth in diversified technology sectors, including Fintech, AI, and cybersecurity.
    3. Engagement with ONAR for Branding Development
      iQSTEL has partnered with ONAR, a marketing agency, to enhance its branding and marketing presence. This collaboration strengthens iQSTEL’s positioning and brand awareness in high-tech and emerging markets, supporting the launch and visibility of innovations like AIRWEB.
    4. Global Presence and Market Reach
      iQSTEL continues to expand internationally, now operating in 20 countries. This global reach allows the company to deploy solutions like Cybersecurity and AIRWEB across diverse markets, leveraging its established customer base for broader engagement.
    5. $1 Billion Revenue Goal by 2027
      iQSTEL has set a goal to achieve $1 billion in revenue by 2027, and the launch of AIRWEB contributes to this vision by providing a scalable, AI-driven solution that enhances customer service while reducing costs, increasing profit potential in high-growth sectors.

    These highlights reflect iQSTEL’s dedication to innovation, international growth, financial stability, and strategic partnerships, reinforcing its mission to become a leader in telecommunications, AI, and high-margin technology products

    About Virtual Investor Conferences®
    Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

    Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

    Virtual Investor Conferences
    John M. Viglotti
    SVP Corporate Services, Investor Access
    OTC Markets Group
    (212) 220-2221
    johnv@otcmarkets.com

    About Reality Border:

    Reality Border (www.realityborder.com), the AI-Services subsidiary of iQSTEL, Inc. (OTCQX: IQST), specializes in providing AI-driven customer engagement solutions that help businesses scale and personalize their customer interactions. With a focus on simplicity and powerful AI technology, Reality Border enables businesses to achieve growth and operational efficiency with minimal complexity.

    Company Website:

    www.realityborder.com

    Airweb Service Website:

    www.airweb.ai

    About iQSTEL (Updated Oct. 2024):

    iQSTEL Inc. (OTC-QX: IQST) (www.iQSTEL.com) is a US-based multinational publicly listed company in the final stages of the path to becoming listed on NASDAQ. With FY2023 revenues of $144 million and a forecasted $290 million in revenue, alongside positive operating income of seven digits for FY-2024, iQSTEL is positioning itself for explosive growth. iQSTEL’s mission is to serve basic human needs in today’s modern world by making essential tools accessible, regardless of race, ethnicity, religion, socioeconomic status, or identity. The company recognizes that modern human needs such as physiological, safety, relationship, esteem, and self-actualization are marginalized without access to ubiquitous communications, financial freedom, clean, affordable mobility, and information.

    iQSTEL has been building a strong business platform with its customers, and by leveraging this trust, the company is now beginning to sell high-tech, high-margin products across its divisions. iQSTEL is strategically positioned to achieve $1 billion in revenue by 2027 through organic growth, acquisitions, and high-margin product expansion.

    • Telecommunications Services Division (Communications):
      Includes VoIP, SMS, International Fiber-Optic, Proprietary Internet of Things (IoT), and a Proprietary Mobile Portability Blockchain Platform.
    • Fintech Division (Financial Freedom):
      Provides remittance services, top-up services, a MasterCard Debit Card, US bank accounts (no SSN required), and a Mobile App.
    • Electric Vehicles (EV) Division (Mobility):
      Offers Electric Motorcycles and plans to launch a Mid-Speed Car.
    • Artificial Intelligence (AI) Services Division (Information and Content):
      Provides AI solutions for unified customer engagement across web and phone channels, along with a white-label platform offering seamless access to services, entertainment, and support in a virtual 3D interface.
    • Cybersecurity Services:
      Through a new partnership with Cycurion, iQSTEL will offer advanced cybersecurity solutions, including 24/7 monitoring, threat detection, incident response, vulnerability assessments, and compliance management, providing essential protection to telecommunications clients and beyond.

    iQSTEL has completed 11 acquisitions since June 2018 and continues to develop an active pipeline of potential future acquisitions, further expanding its suite of products and services both organically and through mergers and acquisitions.

    iQSTEL Inc.
    IR US Phone: 646-740-0907
    IR Email: investors@iqstel.com

    Contact Details
    iQSTEL Inc.
    +1 646-740-0907
    investors@iqstel.com

    Company Website
    www.iqstel.com

    Safe Harbor Statement: Statements in this news release may be “forward-looking statements”. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other information relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates, and projections about our business based partly on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may and are likely to differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release, and iQSTEL Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release. This press release does not constitute a public offer of any securities for sale. Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

    The MIL Network –

  • MIL-OSI: Two Six Technologies Captures Strategic Win with Award on $4 Billion DTRA Contract

    Source: GlobeNewswire (MIL-OSI)

    ARLINGTON, Va., Oct. 30, 2024 (GLOBE NEWSWIRE) — Two Six Technologies (“Two Six”), a high-growth, technology-focused provider of products and expertise to U.S. national security customers, has established its next level of growth and success through its award on a 10-year, indefinite-delivery/indefinite-quantity (IDIQ) contract from the Defense Threat Reduction Agency’s (DTRA) Research and Development Directorate with a maximum cumulative ceiling of $4 billion.

    “I could not be more proud of the Two Six team who won this next-tier contract award,” said Joe Logue, CEO of Two Six Technologies. “We went up against the large, legacy companies – all experts in their specific fields – and were selected for an award, which highlights our unique capabilities as a mission-driven company focused on rapid innovations, cutting-edge technologies, and solving complex national security challenges.”

    The contract was designed for performing research, development, test and evaluation, maintenance, support, systems engineering and/or sustainment to provide scientific and technological solutions to meet the Department of Defense’s priority Combating Weapons of Mass Destruction objectives. Work within the program is divided into three pools: (1) artificial intelligence, machine learning, data science, and software development; (2) operations and countermeasures in a chemical, biological, radiological, and nuclear environment; and (3) targeting, information operations, and irregular warfare.

    Two Six, among the youngest and smallest of the nine companies awarded slots on the contract, was selected based on the unique strategy it presented to DTRA, including its ability to adapt to client needs with proprietary products and expertise. The company expects to bid on specific task orders that fit within Two Six’s core expertise of innovative technology development, deep research and development capabilities, and agile project execution.

    “Being named to this contract is meaningful and important on so many levels,” said Greg Bitel, Vice President of Business Development. “First, it demonstrates that Two Six has created a new and disruptive approach to winning competitive awards against much larger and longer-established firms. Second, it’s a massive growth opportunity for our company – and one we intend to seize upon. And third, it’s a recognition of the very intentional and strategic ways in which Two Six has grown and matured our capabilities to be a leader in the industry.”

    Two Six Technologies was formed in February 2021, with the backing of global investment firm The Carlyle Group, as a new generation of technology company focused on U.S. Government customers. Over the past three years Two Six has accelerated its growth and strengthened its focus on five technical areas essential to national security missions: cyber, information operations, resilient communications, electronic systems, and zero trust solutions. The company’s driving force continues to be its two-part mission to deliver technological superiority for the nation and empower passionate people to succeed as a team.

    About Two Six Technologies
    Two Six Technologies is a high-growth technology company dedicated to providing innovative products and expertise for defense, intelligence, public safety, and national security customers. The company solves complex technical challenges in five focus areas that are key to missions on the modern battlefield: cyber, information operations, resilient communications, electronic systems, and zero trust solutions.

    The company offers a robust suite of sole source contract vehicles with more than $1.5 billion of combined contract ceiling; a family of operationally deployed products including IKE™, Pulse, TrustedKeep™, SIGMA™, and TrustMobile; and a global operational footprint that includes technical access in more than 100 countries coupled with native proficiency in more than 20 languages.

    Two Six supports national security customers across the Department of Defense, including U.S. Special Operations Command, U.S. Cyber Command and DARPA; Department of State; the Intelligence Community; and Civilian agencies.

    Two Six is headquartered in Arlington, Virginia and employs more than 870 professionals working in 37 states across the country.

    For more information, visit twosixtech.com and Two Six Technologies on LinkedIn.

    Media Contact
    David Leach
    Vice President of Corporate Development
    david.leach@twosixtech.com
    703-782-9473

    The MIL Network –

  • MIL-OSI: LaunchDarkly Launches Dedicated EU Region to Support EU Data Residency and Compliance Needs

    Source: GlobeNewswire (MIL-OSI)

    OAKLAND, Calif., Oct. 30, 2024 (GLOBE NEWSWIRE) — LaunchDarkly, the platform for high-velocity engineering teams to release, monitor, and optimize great software, today announced the launch of its dedicated EU region. This strategic expansion of the LaunchDarkly platform addresses the critical data residency needs of European organizations by securely storing critical data within the European Union.

    The launch of the EU region follows LaunchDarkly’s recent participation in the EU-US Data Privacy Framework, reinforcing the company’s commitment to upholding the highest standards of data privacy and security. As organizations across Europe grapple with increasing regulatory pressures, the dedicated EU region provides a vital solution, allowing businesses to focus on innovation while managing residency and compliance needs.

    “Europe is home to some of the most exciting software innovation, so it’s no surprise that we are seeing a surge in demand for feature management, AI application oversight, and experimentation,” said Dan Rogers, CEO of LaunchDarkly. “Our new EU region responds directly to these needs, addressing crucial data residency concerns while empowering engineering teams to push boundaries with confidence.”

    Key Features of the LaunchDarkly EU Region:

    • EU Data Residency: All end-user data will be stored within the EU, giving organizations greater control and security over their sensitive information.
    • Regulatory Compliance: Keeping data in the EU can address specific regulatory challenges that certain EU industries face.
    • Security and Privacy Assurance: The LaunchDarkly EU region is backed by rigorous security protocols, including certifications like SOC 2 Type II and ISO 27001, ensuring the highest levels of data protection.

    The LaunchDarkly EU region, based in Frankfurt, Germany, is designed for optimal performance, reducing latency for EU-based traffic while ensuring robust disaster recovery processes, and will include a secondary AWS EU region in Paris for backups. This infrastructure not only supports compliance but also empowers organizations to innovate, without some of the burdens of regulatory or compliance uncertainty. This is particularly important for highly-regulated industries like financial services, energy, and healthcare.

    “Data residency has long been a significant hurdle for us when it comes to scaling beyond our homegrown solutions,” said Julien Femia, Director of Engineering at Alan. “We’re excited to partner with LaunchDarkly, as their new EU region allows us to confidently embrace feature management while adhering to our data compliance needs. This marks a key step forward in accelerating our product development and delivering even more innovative healthcare solutions to our users.”

    As data residency becomes an increasingly pressing concern for European organizations, the LaunchDarkly EU region represents a pivotal step in simplifying compliance and fostering trust in cloud operations. LaunchDarkly encourages EMEA sales representatives to proactively engage with prospects and existing clients to share this crucial development and its implications for their data residency and compliance strategies.

    For more information about the LaunchDarkly EU region, visit here.

    About LaunchDarkly

    LaunchDarkly is the leading release management platform that empowers engineering teams to deliver better software, faster and with less risk. With a comprehensive suite of capabilities, the LaunchDarkly platform facilitates real-time experimentation, AI-driven solutions, and progressive delivery, ensuring new features are rolled out smoothly and efficiently. Serving over 5,500 of the world’s most innovative enterprises, including a quarter of the Fortune 500, LaunchDarkly is trusted around the globe to deliver software with speed and safety, enhancing customer experiences across industry verticals. For more information, visit www.launchdarkly.com.

    The MIL Network –

  • MIL-OSI: Four in Five Recent Home Buyers May Look to Refinance in the Next 12 Months to Help Alleviate Strain on Personal Finances

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, Oct. 30, 2024 (GLOBE NEWSWIRE) — A new TransUnion (NYSE: TRU) survey found that many consumers feel their existing auto and new mortgage payments are putting a strain on their household finances, and the prospect of falling interest rates has them ready to consider refinancing those loans.

    The surveys of current auto loan customers and those consumers who have taken out a mortgage in the last 24 months were conducted between September 18 and September 27, 2024. They resulted in responses from 1,002 and 1,025 auto and mortgage loan customers, respectively.

    “We surveyed this specific group of recent borrowers to better understand the drivers of refinance for both mortgages and auto loans,” said Jason Laky, executive vice president and head of financial services at TransUnion. “Millions of people financed homes and autos during this period of high interest rates, and many will look to refinance as interest rates decline.”

    TransUnion’s survey found four in five recent home buyers say their mortgage payments are straining their finances and are looking to refinance their mortgage payments in the next 12 months.

    Many Recent Home Buyers Say Their Current Mortgage Payment is a Strain on Their Personal Finances

    Opinions/Generation All Consumers Gen Z Millennials Gen X Baby Boomers
    Strongly Agree or Agree 80.1% 79.7% 88.7% 75.3% 54.9%
    Neither Agree nor Disagree 8.0% 10.6% 4.6% 9.8% 12.1%
    Disagree or Strongly Disagree 11.9% 9.7% 6.7% 14.9% 33.0%


    Percent of Recent Home Buyers Who Anticipate Refinancing Their Mortgage     in the Next Twelve Months if Rates Fall

    Opinions/Generation All Consumers Gen Z Millennials Gen X Baby Boomers
    Very Likely or
    Likely    		 80.0% 77.0% 89.6% 78.5% 46.2%
    Neither Likely nor Unlikely 7.1% 10.2% 4.2% 7.3% 13.2%
    Unlikely or Very Unlikely 12.9% 12.8% 6.2% 14.2% 40.6%

    Source: TransUnion U.S. consumer survey

    When asked the biggest factor that would ultimately drive them to pull the trigger on a refinancing decision, 70% of these recent home buyers said that a more favorable loan term would be a key driver for them. However, a nearly identical percentage said that better interest rates (67%) and a cash-out refinance (61%) would also be significant drivers, reflecting broad economic interest.

    “For many of these recent home buyers, their mortgage payment is their largest single payment each month,” said Satyan Merchant, senior vice president and mortgage and auto business leader for TransUnion. “The upside is that it is a payment that can be refinanced if the economic climate allows for it, and as interest rates begin to fall, this group of consumers should begin exploring this option. Conversely, lenders should be actively marketing to these refinance candidates, regardless of what their primary motivation to refinance may be.”

    Similar Consumer Sentiments Found When Asked About Auto Loans

    The survey also examined consumer sentiment towards their existing auto loans, payments and interest rates along with future plans regarding refinancing. Results indicated that there was a similar eagerness to refinance when interest rates eventually fall, and a similar response among consumers when asked if they feel that their current auto loan payments represent a strain on their household finances.

    When asked the extent to which they agree that their current auto loan payment represented a strain on their personal finances, 65% of respondents indicated that they agree or strongly agree with this statement as opposed to 20% who disagree or strongly disagree. Nearly the same percentage of respondents, 63%, indicated that they were likely or very likely to refinance their existing auto loans if it could save them money on their monthly payments. 52% of respondents indicated they would consider refinancing if it would save them between $50 and $149 monthly.

    The research also explored the sentiment of consumers who have already refinanced despite the relatively high interest rates. Many of these borrowers derived lower payments through longer terms.

    From this standpoint, TransUnion data shows that credit unions continue to lead the way with 67% of the refinance share in 2023. Banks had the second largest share, at 20%. These figures have remained relatively stable in recent years and underscore consumers’ favorable perception of credit unions when they begin exploring refinancing opportunities.

    “Credit unions may be able to offer their members rates and service that larger more traditional banks cannot,” said Sean Flynn, senior director of community financial institutions at TransUnion. “Credit unions should lean into this fact and leverage available tools such as trended data and advanced analytics to seek out those consumers who may be able to refinance.”

    To learn more about how TruIQ™ by TransUnion helps lenders make better, data-driven decisions faster with advanced analytics consulting services and enabling technologies, click here. To learn how TruVision™ allows lenders to use trended data to more precisely balance risk and opportunity with risk management products that identify and manage best-fit customers across the account lifecycle, click here.

    To learn more about the analysis above, click here.

    About TransUnion (NYSE: TRU)

    TransUnion is a global information and insights company with over 13,000 associates operating in more than 30 countries. We make trust possible by ensuring each person is reliably represented in the marketplace. We do this with a Tru™ picture of each person: an actionable view of consumers, stewarded with care. Through our acquisitions and technology investments we have developed innovative solutions that extend beyond our strong foundation in core credit into areas such as marketing, fraud, risk and advanced analytics. As a result, consumers and businesses can transact with confidence and achieve great things. We call this Information for Good® — and it leads to economic opportunity, great experiences and personal empowerment for millions of people around the world.
    http://www.transunion.com/business

    Contact Dave Blumberg
      TransUnion
       
    E-mail david.blumberg@transunion.com
       
    Telephone 312-972-6646

    The MIL Network –

  • MIL-OSI: Boba Mint Holdings Announces Major Milestones for Blockchain Game Tanjea Amidst Surging User Growth

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, Oct. 30, 2024 (GLOBE NEWSWIRE) — Boba Mint Holdings Ltd. (CSE: TNJ) (“Boba Mint” or the “Company”) is excited to celebrate remarkable growth milestones for its flagship blockchain mobile game, Tanjea. Since the last user download update in May, game downloads have doubled, now surpassing 409,670 total downloads, with over 24,000 monthly active users on the Android platform alone.

    “I am impressed with the increase in game downloads—it’s a testament to the two engaging game modes we now have in the Tanjea ecosystem,” said CEO Rody Lazar. This impressive surge in user engagement underscores Boba Mint’s impact in the blockchain gaming industry and its commitment to redefining the mobile gaming experience.

    TNJ Token Update

    We anticipate that full withdrawal capabilities for our TNJ token will be available by the end of calendar year 2024, with plans for the token to trade on Uniswap in the future.

    About Boba Mint Holdings Ltd.

    Boba Mint Holdings Ltd. is focused on the development of blockchain mobile games that integrate ERC20 tokens and ERC721 NFTs. Its primary product is a mobile blockchain gaming ecosystem called Tanjea, where gamers collect NFT characters (primarily birds and wolves) in multiple mobile games and use them to earn $TNJ tokens.

    Boba Mint is a pioneering blockchain gaming company dedicated to creating immersive, decentralized gaming experiences. Boba Mint has become synonymous with innovation and excellence in the blockchain gaming industry.

    On Behalf of the Board of Directors,

    Boba Mint Holdings Ltd.

    “Rody Lazar” CEO

    For further information, please contact:

    Rody Lazar – CEO

    Phone: 1-800-556-1015

    Email: info@bobamint.com

    Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the CSE policies) accepts responsibility for this release’s adequacy or accuracy.

    Forward-Looking Statements

    This news release contains statements that constitute “forward-looking statements”. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Boba’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. Such statements include those relating to game development and the Company’s expectations and plans. Although Boba believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature, forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

    Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; adverse industry events; future legislative and regulatory developments in the blockchain sector; the Company’s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mobile video game industry and markets in Canada and generally; the ability of Boba to implement its business strategies; competition; and other assumptions, risks and uncertainties. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws. The foregoing statements expressly qualify any forward- looking information contained herein. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in Boba’ Form 2A Listing Statement dated April 19, 2024 which is available on Boba’s profile at http://www.sedarplus.ca and on the CSE website at https://thecse.com/listings/boba-mint-holdings- ltd/.

    This news release does not constitute an offer to sell or the solicitation of an offer to buy, and shall not constitute an offer, solicitation or sale in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.
    We seek Safe Harbor.

    The MIL Network –

  • MIL-OSI: Bybit to Host Exclusive Forum: Bridging Islamic Finance and Cryptocurrency

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Oct. 30, 2024 (GLOBE NEWSWIRE) — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce an exclusive forum dedicated to exploring the intersection of Islamic finance and cryptocurrency. This event will take place on November 18, 2024, at 6 PM Dubai at Bybit’s Dubai office.

    The educational forum will feature esteemed speakers, including Dr. Muhammad Yusuf Abu Jazr (Abu Ubaidah), PhD in Comparative Jurisprudence, former member of the Iftaa’ Council, and founding director of the Crypto Halal Office, Dr. Mohammad Mahdy, Founder and Chief Executive Officer at Exaado and more. These renowned experts will share their insights on the principles of Islamic finance and the potential of cryptocurrency to align with Shariah principles.

    Bybit’s launch of its Islamic Account represents a significant development in the intersection of cryptocurrency and Islamic finance, effectively bridging innovation with adherence to Sharia principles. This initiative not only caters to the growing demand for Sharia-compliant trading options among Muslim investors but also aligns with the broader trends in the digital future of Islamic finance.

    The forum aims to educate and engage the community about Bybit’s Shariah-compliant trading products, highlighting the platform’s commitment to providing inclusive and ethical financial solutions.

    Key Highlights of the Forum:

    • In-depth discussion on the principles of Islamic finance and ethical investing
    • Presentation on Bybit’s Islamic Account, including its features, benefits, and unique selling points
    • Live product demonstration to showcase the user-friendly interface and seamless trading experience
    • Engaging Q&A session to address questions and concerns from attendees

    Bybit’s Islamic Account offers a comprehensive suite of Shariah-compliant trading products, providing Muslim traders with an inclusive platform to engage in the digital asset market. Developed in consultation with ZICO Shariah Advisory Services Sdn. Bhd. (ZICO Shariah) and CryptoHalal to ensure compliance with the Shariah principles, the account ensures that all products strictly adhere to Islamic finance principles.

    To RSVP, users can visit: https://lu.ma/fci5yk52

    #Bybit / #TheCryptoArk

    About Bybit

    Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

    For more details about Bybit, users can visit Bybit Press. 

    For media inquiries, users can contact: media@bybit.com

    For more information, users can visit: https://www.bybit.com

    For updates, users can follow: Bybit’s Communities and Social Media

    Contact
    Head of PR
    Tony Au
    Bybit
    tony.au@bybit.com

    The MIL Network –

  • MIL-OSI Russia: “Entrepreneurial Holidays at the State University of Management” will be held for schoolchildren

    Translation. Region: Russian Federation –

    Source: State University of Management – Official website of the State –

    On October 28, the Career Guidance Center launched the project “Entrepreneurial Holidays at the State University of Management”.

    The opening of the event was attended by Nikolai Mikhailov, Advisor to the Rectorate of the State University of Management, Elena Likhatskikh, Director of the Center for Career Guidance, and Andrei Kolchin, Head of the Career Guidance Department.

    During the first days of the holidays from October 28 to 30, more than 200 10th grade students from Moscow schools visited the State University of Management.

    The children learned about the basics of entrepreneurship and project activities, became familiar with modern marketing tools, learned how to create a successful business and tested their strength in the game “The World of Digital Money”.

    For two years, the State University of Management has been working with partner schools that have opened entrepreneurship classes. This academic year, there are eleven such schools.

    The work is being carried out within the framework of a grant from the Department of Education and Science of the City of Moscow.

    Subscribe to the TG channel “Our GUU” Date of publication: 10/30/2024

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News –

  • MIL-OSI China: Int’l skydiving festival kicks off in Egypt

    Source: China State Council Information Office 3

    The seventh edition of Egypt’s “Jump Like a Pharaoh” air sports festival kicked off on Tuesday, with about 200 skydivers from different countries participating in the three-day event.

    The festival began as 100 skydivers jumped from C-130 aircraft provided by the Egyptian Armed Forces. They fashionably landed at the foot of the Pyramid of Khafre in Giza, near the capital Cairo.

    “This edition witnessed the participation of many professional skydivers from around the world to enjoy the experience of flying over the pyramids,” said Youssef Medhat, a media officer with the organizer Skydive Egypt company.

    He added that one of the event’s main objectives is to boost Egyptian tourism, in addition to promoting the sport of skydiving.

    “The festival has already succeeded in promoting skydiving in Egypt, and we see this through the increasing number of Egyptians who wish to either participate in the festival or learn this wonderful sport,” Medhat said.

    Chris Whitley, a professional skydiver from the United States, flew all the way from Virginia to Cairo to participate in the festival.

    “This is my fifth time to jump over the pyramids … the experience is amazing,” Whitley said. 

    MIL OSI China News –

  • MIL-OSI China: Behind the craze for creative cultural products

    Source: China State Council Information Office 3

    After a nine-day tour in north China’s Shanxi Province, one man is determined to “bring home” the grand pagodas and exquisite sculptures that took his breath away.

    “I have spent more than 1,000 yuan (140 U.S. dollars), which is about a tenth of my holiday budget, on souvenirs!” said the 30-year-old visitor surnamed Ma.

    Shanxi is renowned for its ancient architecture and is home to over 28,000 ancient structures. Its popularity has been boosted recently by the phenomenal video game “Black Myth: Wukong,” which is based on the Chinese classic novel “Journey to the West.”

    “I was fascinated by the ancient architecture, and the fridge magnets were equally amazing,” Ma said. “Each city has its unique creative cultural products. They are like miniatures of the attractions. For me, buying these keepsakes is like preserving the beauty of this trip forever.”

    Shanxi Province launched “Following Wukong to visit Shanxi” this summer, an activity that encourages tourists to “check in” at the filming locations of the video game. It is due to end on Thursday.

    Shortly after the launch, a Monkey King creative product shop opened on the business street in the heart of Taiyuan. It has since been packed with enthusiastic customers vying for products like fridge magnets, notebooks and playing cards.

    Yang Liu, with the shop, told Xinhua that their intention of opening the shop was to take a chance and promote the culture and tourism of the province. Since September 27, their sales have reached 200,000 yuan.

    Shanxi is not alone. Across China, various cultural and creative products are now sought-after mementos or gifts for friends, with their images going viral on social media: necklaces that draw inspiration from traditional brush painting in the Palace Museum; wooden combs in the shape of traditional Chinese musical instruments; vanity mirrors bearing patterns resembling the one on display in the Luoyang Museum of central China; keyboards with the colors of the famous Dunhuang murals and the nine-colored deer image…

    According to a report by Zhiyan Consulting, the market size of China’s cultural and creative products reached 16.38 billion U.S. dollars in 2023, a year-on-year increase of 13.09 percent. In 2020, the sector’s market size accounted for 10.67 percent of the global total, and by 2023 it had risen to 11.56 percent.

    One fridge magnet capturing the elaborate details of a superbly delicate empress crown from ancient China, a treasured piece from the National Museum of China (NMC), has emerged as an internet sensation and sparked a buying spree.

    Aspiring collectors even start queuing from 6 a.m. outside the museum for their chance to snag the memento. Many exchange tips on how to obtain the popular magnet on social media.

    In just three months since its launch, nearly 80,000 magnets have been sold, boosting sales of the entire series of empress crown memorabilia including key chains, furry toys and popsicles, with a total revenue exceeding 10 million yuan, even when facing production capacity constraints. The current daily production capacity for magnets has reached 3,000 units, with potential for further increase to meet growing market demand.

    Liao Fei with the management and development department of NMC disclosed that the design was inspired by social media, where they saw a lot of visitors posting photos of the empress crown.

    Head of a seven-member team, he said: “We always watch the exhibitions and search on social media to see what tourists like.”

    They are also constantly improving the products. Liao found that while there were tips on social media on how to obtain such a fridge magnet, few talked about its unique features. So they decided to make it more innovative.

    On September 27, an AR fridge magnet featuring the empress crown was released, which could be “worn” by the buyer on a mobile phone screen after a scan of the QR code. More than 2,300 such magnets were sold within two hours after its release.

    “In recent years, there has been a boom in the number of such creative products that are of use in various aspects of people’s life,” said Song Yanli, a saleswoman at the official gift shop of the Dunhuang Museum in northwest China’s Gansu Province.

    Noting that buyers today are knowledgeable enough to discern all the cultural elements adopted in the design, the 32-year-old said that they must develop more products to keep pace with public demand.

    “With the improvement of people’s living standard, the consuming behavior of youngsters is changing,” said Mao Jinhuang, a professor with the School of Economics at Lanzhou University. “They are no longer satisfied with simple material consumption but pay more attention to the purchase experience.”

    He believed that while the creative cultural products could offer emotional value to the customers, the craze for them also reflected young people’s love for and interest in Chinese traditional culture.

    According to China’s National Bureau of Statistics, the added value of cultural and related industries in 2022 stood at 5.38 trillion yuan, more than 15 fold of that in 2004, with the share of that in GDP increasing from 2.13 percent to 4.46 percent in the 18 years.

    Bu Xiting, associate researcher with the School of Cultural Industries Management at the Communication University of China, noticed that creative cultural products are becoming a new growth point of tourism consumption. “They have increased the income at tourist attractions, propelled the development of relevant industries and become a driving force to promote local economic growth.

    In the first half of this year, China’s domestic tourist trips reached 2.72 billion, with total tourism expenditure amounting to 2.7 trillion yuan, marking year-on-year increases of 14.3 percent and 19 percent, respectively.

    “With the deepened integration of creative cultural products and the tourism industry, it is expected that such products could play a more important role in boosting the high-quality development of the industry in the future,” Bu said.

    MIL OSI China News –

  • MIL-OSI China: China’s cultural sector saw sustained uptick in first three quarters

    Source: China State Council Information Office 3

    Major enterprises in China’s cultural sector and related business areas saw a stable increase in revenues and profits in the first three quarters this year, official data showed on Wednesday.

    The 78,000 surveyed enterprises raked in nearly 9.97 trillion yuan (about 1.4 trillion U.S. dollars) in combined revenue from January to September, up 5.9 percent year on year, according to the National Bureau of Statistics.

    The firms’ profits rose 3.9 percent year on year to 790.3 billion yuan in the nine months, driven mainly by the growth of internet information services and online culture and entertainment platforms.

    Companies featuring new business forms, such as providers of wearable smart cultural devices, online games and entertainment-purpose smart drones, pocketed over 4.16 trillion yuan in revenue, up 10 percent year on year.

    Of the total, the cultural manufacturing industry reported over 2.99 trillion yuan in revenue, up 3.9 percent year on year. The revenue of the cultural wholesale and retail industry reached nearly 1.67 trillion yuan, up 4.4 percent year on year. The revenue of the cultural services industry hit nearly 5.31 trillion yuan, up 7.6 percent year on year. 

    MIL OSI China News –

  • MIL-OSI China: LNG receiving terminal in Tianjin witnesses surge in natural gas supply as heating season approaches

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

    LNG receiving terminal in Tianjin witnesses surge in natural gas supply as heating season approaches

    Updated: October 30, 2024 19:44 Xinhua
    Staff members are on duty in the central control room at a liquefied natural gas (LNG) receiving terminal of China Petrochemical Corporation (Sinopec) in north China’s Tianjin, Oct. 29, 2024. As the heating season approaches in many parts of north China, the LNG receiving terminal of Sinopec in Tianjin has witnessed a surge in arrival of LNG container vessels in recent days. The terminal, which serves the seasonal peak-shaving and gas supply tasks for the Beijing-Tianjin-Hebei area, has unloaded 990,000 tonnes of LNG and supplied 900 million cubic meters of natural gas in September and October this year, a year-on-year increase of 87 percent and 20 percent, respectively. [Photo/Xinhua]
    An aerial drone photo shows a liquefied natural gas (LNG) container vessel docking at a LNG receiving terminal of China Petrochemical Corporation (Sinopec) in north China’s Tianjin, Oct. 29, 2024. [Photo/Xinhua]
    Staff members check devices at a liquefied natural gas (LNG) receiving terminal of China Petrochemical Corporation (Sinopec) in north China’s Tianjin, Oct. 29, 2024. [Photo/Xinhua]
    Staff members check devices at a liquefied natural gas (LNG) receiving terminal of China Petrochemical Corporation (Sinopec) in north China’s Tianjin, Oct. 29, 2024. [Photo/Xinhua]
    A drone photo shows a liquefied natural gas (LNG) container vessel docking at a LNG receiving terminal of China Petrochemical Corporation (Sinopec) in north China’s Tianjin, Oct. 29, 2024. [Photo/Xinhua]

    MIL OSI China News –

  • MIL-OSI China: China unveils new regulation for professional doctorate in engineering

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

    BEIJING, Oct. 30 — China has released its first set of guidelines outlining criteria and requirements for theses and practice-oriented outputs in professional doctorate applications in engineering to enhance talent cultivation, according to the Ministry of Education.

    The pilot document containing these guidelines encompasses provisions on the scope and quality of dissertations for candidates pursuing a professional engineering doctorate. It also introduces criteria and protocols for awarding the degree based on practical achievements.

    The guidelines follow the passage of a law on academic degrees by China’s national legislature this April. The law, set to take effect next year, allows graduate students to earn their degrees either through a thesis or by submitting required practice-oriented outputs.

    The new guidelines require dissertations to focus on engineering applications and applied research, highlighting the applicant’s proficiency in fundamental theory, specialized knowledge and independent professional practice.

    It is stressed that doctorate applications based on practical achievements should include tangible deliverables and a written summary report.

    China regards education, science and technology, and talent development as the fundamental and strategic foundations for modernization. The country has strived to promote the integrated reform of institutions and mechanisms related to these areas in order to boost innovation.

    According to an official with the Office of the State Council Academic Degrees Committee, the guidelines emphasize not only the ability of engineering doctoral students to independently engage in professional practice but also the importance of innovation and diversity.

    Experts believe the newly unveiled guidelines underscore the training focus and standards of professional degrees, emphasizing practice-based innovation capabilities.

    The regulation will apply to eight categories of professional degrees, including electronic information, mechanical engineering, materials and chemicals, and energy and power engineering.

    MIL OSI China News –

  • MIL-OSI China: China, Canada to increase direct flights to satisfy travel, trade demands

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

    BEIJING, Oct. 30 — China and Canada will increase direct flights to meet demands for travel and trade between the two countries, the Civil Aviation Administration of China (CAAC) said Wednesday.

    Air Canada plans to increase the frequency of its weekly round-trip flights from Vancouver to Shanghai from the current four to seven from Dec. 7 onwards, according to the CAAC.

    Furthermore, Air Canada will resume the operation of its route from Vancouver to Beijing from Jan. 15, 2025 — offering seven round-trip flights per week.

    Meanwhile, Chinese airlines are also expediting their application process for additional flights.

    The surge in direct flights between China and Canada will help satisfy personnel exchange and economic and trade demands, and promote the further recovery of their shared air transport market, the CAAC said.

    MIL OSI China News –

  • MIL-OSI Asia-Pac: Health chief joins medical conference

    Source: Hong Kong Information Services

    Secretary for Health Prof Lo Chung-mau led a delegation to attend the 2024 Guangdong-Hong Kong-Macao Greater Bay Area Medical Products Administration Conference in Zhuhai today.

    During the conference, he introduced the latest initiatives of developing Hong Kong into an international health and medical innovation hub as put forth in the 2024 Policy Address.

    The conference is co-organised by the Guangdong Provincial Medical Products Administration, the Department of Health of the Hong Kong Special Administrative Region Government and the Pharmaceutical Administration Bureau of the Macao SAR Government.

    It serves as a platform for Guangdong, Hong Kong and Macau to share their work experience in drug regulation, enhance the work mechanism for collaboration on drug and medical device regulation in the bay area, and foster the innovation development of drug and medical device regulation in the region.

    National Medical Products Administration Deputy Commissioner Zhao Junning also attended the conference.

    During the conference, representatives from Guangdong, Hong Kong and Macau exchanged views on the current situation of regulation over drugs and medical devices in the three places, as well as the mechanism for regulatory collaborations on drugs and medical devices in the bay area.

    They also covered bay area standards for Chinese medicines, in addition to the feasibility of streamlining the registration and approval procedures for Hong Kong and Macau-registered traditional proprietary Chinese medicines for oral use for sale on the Mainland, and had an in-depth discussion on the way forward.

    Prof Lo updated the conference attendees on the latest developments of Hong Kong’s healthcare policies put forward in the 2024 Policy Address.

    These included complementing technological innovation with institutional innovation through expediting the reform of the approval mechanism for drugs and medical devices, strengthening biomedical technology research and development and translation, and promoting the internationalisation of Chinese medicines.

    Prof Lo said the Hong Kong SAR Government is determined to develop Hong Kong into an international health and medical innovation hub, and expedite the provision of advanced diagnostic and treatment services to patients by leveraging the advantages of “one country, two systems” and Hong Kong’s healthcare professional system.

    He also noted that Hong Kong will actively integrate into the national development by dovetailing with the national initiative of fostering new quality productive forces in biomedical technology as set out in the Resolution of the Communist Party of China Central Committee on Further Deepening Reform Comprehensively to Advance Chinese Modernization and the Development Plan for Shenzhen Park of Hetao Shenzhen-Hong Kong Science & Technology Innovation Co-operation Zone.

    “The Hong Kong SAR Government will enhance Hong Kong’s clinical trial capability and facilitate the translation of innovative biomedical research results into clinical applications by rendering firm support to innovation and application of advanced biomedical technology, with a view to attracting the world’s top-notch biomedical enterprises and research and development institutions to set up operations in Hong Kong,” Prof Lo added.

    The delegation will return to Hong Kong this evening.

    MIL OSI Asia Pacific News –

  • MIL-OSI USA: Gross Domestic Product, Third Quarter 2024 (Advance Estimate)

    Source: US Bureau of Economic Analysis

    Real gross domestic product (GDP) increased at an annual rate of 2.8 percent in the third quarter of 2024 (table 1), according to the “advance” estimate released by the U.S. Bureau of Economic Analysis. In the second quarter, real GDP increased 3.0 percent.

    The GDP estimate released today is based on source data that are incomplete or subject to further revision by the source agency (refer to “Source Data for the Advance Estimate” on page 2). The “second” estimate for the third quarter, based on more complete source data, will be released on November 27, 2024.

    The increase in real GDP primarily reflected increases in consumer spending, exports, and federal government spending (table 2). Imports, which are a subtraction in the calculation of GDP, increased.

    The increase in consumer spending reflected increases in both goods and services. Within goods, the leading contributors were other nondurable goods (led by prescription drugs) and motor vehicles and parts. Within services, the leading contributors were health care (led by outpatient services) as well as food services and accommodations. The increase in exports primarily reflected an increase in goods (led by capital goods, excluding automotive). The increase in federal government spending was led by defense spending. The increase in imports primarily reflected an increase in goods (led by capital goods, excluding automotive).

    Compared to the second quarter, the deceleration in real GDP in the third quarter primarily reflected a downturn in private inventory investment and a larger decrease in residential fixed investment. These movements were partly offset by accelerations in exports, consumer spending, and federal government spending. Imports accelerated.

    Current‑dollar GDP increased 4.7 percent at an annual rate, or $333.2 billion, in the third quarter to a level of $29.35 trillion. In the second quarter, GDP increased 5.6 percent, or $392.6 billion (tables 1 and 3).

    The price index for gross domestic purchases increased 1.8 percent in the third quarter, compared with an increase of 2.4 percent in the second quarter (table 4). The personal consumption expenditures (PCE) price index increased 1.5 percent, compared with an increase of 2.5 percent. Excluding food and energy prices, the PCE price index increased 2.2 percent, compared with an increase of 2.8 percent.

    Personal Income

    Current-dollar personal income increased $221.3 billion in the third quarter, compared with an increase of $315.7 billion in the second quarter. The increase primarily reflected an increase in compensation (table 8).

    Disposable personal income increased $166.0 billion, or 3.1 percent, in the third quarter, compared with an increase of $260.4 billion, or 5.0 percent, in the second quarter. Real disposable personal income increased 1.6 percent, compared with an increase of 2.4 percent.

    Personal saving was $1.04 trillion in the third quarter, compared with $1.13 trillion in the second quarter. The personal saving rate—personal saving as a percentage of disposable personal income—was 4.8 percent in the third quarter, compared with 5.2 percent in the second quarter.

    Source Data for the Advance Estimate

    The GDP estimate released today is based on source data that are incomplete or subject to further revision by the source agency. Information on the source data and key assumptions used in the advance estimate is provided in a Technical Note and a detailed “Key Source Data and Assumptions” file posted with the release. The “second” estimate for the third quarter, based on more complete data, will be released on November 27, 2024. For information on updates to GDP, refer to the “Additional Information” section that follows.

    *          *          *

    Next release, November 27, 2024, at 8:30 a.m. EST
    Gross Domestic Product (Second Estimate)
    Corporate Profits (Preliminary Estimate)
    Third Quarter 2024

    *          *          *

    Release Dates in 2025
    Estimate  2024 Q4 and
    Year 2024    		 2025 Q1 2025 Q2 2025 Q3
    Gross Domestic Product        
    Advance Estimate January 30, 2025 April 30, 2025 July 30, 2025 October 30, 2025
    Second Estimate February 27, 2025 May 29, 2025 August 28, 2025 November 26, 2025
    Third Estimate March 27, 2025 June 26, 2025 September 25, 2025 December 19, 2025
             
    Gross Domestic Product by Industry March 27, 2025 June 26, 2025 September 25, 2025 December 19, 2025
             
    Corporate Profits        
    Preliminary Estimate — May 29, 2025 August 28, 2025 November 26, 2025
    Revised Estimate March 27, 2025 June 26, 2025 September 25, 2025 December 19, 2025

    MIL OSI USA News –

  • MIL-OSI: ES Bancshares, Inc. Announces Third Quarter 2024 Results; Continues Trend of Net Interest Margin Expansion and Revenue Growth

    Source: GlobeNewswire (MIL-OSI)

    STATEN ISLAND, N.Y., Oct. 30, 2024 (GLOBE NEWSWIRE) — ES Bancshares, Inc. (OTCQX: ESBS) (the “Company”) the holding company for Empire State Bank, (the “Bank”) today reported net income of $582 thousand, or $0.08 per diluted common share, for the quarter ended September 30, 2024, compared to a net income of $158 thousand or $0.02 per diluted common share for the quarter ended June 30, 2024.

    Key Quarterly Financial Data 2024 Highlights
    Performance Metrics 3Q24 2Q24 3Q23   • The Cost of Funds for the three months ended September 30, 2024, improved to 3.02% from 3.17% in the prior linked quarter.

    • For 3 months ended September 30, 2024, the Company’s net interest margin increased to 2.30% compared to 2.21% for the 3 months ended June 30, 2024.

    • The Company repurchased $2million of its sub-debt during the quarter, resulting in a gain on extinguishment.

    • The Company has replaced $56 million of higher-costing wholesale funding with lower cost organic deposits over the nine-months in 2024.

    • Total Revenues for the quarter ended September 30, 2024, totaled $8.6 million increasing for an eighth consecutive quarter.
    Return on average assets (%) 0.36 0.10 0.09  
    Return on average equity (%) 4.98 1.37 1.17  
    Return on average tangible equity (%) 5.04 1.38 1.18  
    Net interest margin (%) 2.30 2.21 2.67  
             
    Income Statement (a) 3Q24 2Q24 3Q23  
    Net interest income $       3,567 $       3,447 $        3,977  
    Non-interest income $          609 $          329 $           256  
    Net income $          582 $          158 $           133  
    Earnings per diluted common share $         0.08 $         0.02 $          0.02  
             
    Balance Sheet (a) 3Q24 2Q24 3Q23  
    Average total loans  $   566,031  $   565,363 $     555,919  
    Average total deposits  $   512,119  $   510,050 $     487,816  
    Book value per share  $         6.85  $         6.74 $           6.79  
    Tangible book value per share  $         6.77  $         6.65 $           6.71  
     
    (a) In thousands except for per share amounts
     

    Phil Guarnieri, Director, and Chief Executive Officer of ES Bancshares, said, “We are pleased to report solid progress this quarter, reflecting our commitment to enhancing the earnings profile of the organization and maintaining disciplined expense management. Despite a challenging and competitive landscape, the Company’s net interest margin increased by nine basis points for the second straight quarter. The Company’s balance sheet and capital position remain robust, and through the open market, we’ve partially paid down our subordinated debt, which will positively impact the margin going forward.”

    Selected Balance Sheet Information:

    September 30, 2024 vs. December 31, 2023

    As of September 30, 2024, total assets were $633.2 million, a decrease of $5.5 million, or 0.9%, as compared to total assets of $638.7 million on December 31, 2023. The decrease can be attributed to a slightly smaller loan portfolio.

    Loans receivable, net of Allowance for Credit Losses on Loans totaled $560.0 million, a decrease of 0.7% from December 31, 2023. As of September 30, 2024, the Allowance for Credit Losses on Loans as a percentage of gross loans was 0.90%.

    Nonperforming assets, which includes nonaccrual loans and foreclosed real estate were $5.1 million or 0.81% of total assets, as of September 30, 2024, increasing from $1.4 million or 0.22% of total assets at December 31, 2023. The ratio of nonaccrual loans to loans receivable was 0.91%, as of September 30, 2024, and 0.22% for December 31, 2023. The increase from December 31, 2023, was primarily due to one Commercial Real Estate loan and one 1-4 family investor loan being placed on non-accrual status. Both loans are deemed to be well collateralized and in total amount to $4.0 million.

    Total liabilities decreased $6.8 million to $586.1 at September 30, 2024 from $592.9 million at December 31, 2023. The decrease can be attributed to repayments of brokered deposits and Federal Home Loan (FHLB) borrowings partially offset by growth in core deposits. The growth in deposits was driven by an increase in interest-bearing, non-maturity deposit accounts.

    As of September 30, 2024, the Bank’s Tier 1 capital leverage ratio, common equity tier 1 capital ratio, Tier 1 capital ratio and total capital ratios were 9.18%, 13.67%, 13.67% and 14.92%, respectively, all in excess of the ratios required to be deemed “well-capitalized.” During the third quarter 2024 the Company did not repurchase shares under its stock repurchase program. Book value per common share was $6.85 at September 30, 2024 compared to $6.83 at December 31, 2023. Tangible common book value per share (which represents common equity less goodwill, divided by the number of shares outstanding) was $6.77 at September 30, 2024 compared to $6.74 at December 31, 2023.

    Financial Performance Overview:

    Three Months Ended September 30, 2024, vs. June 30, 2024

    For the three months ended September 30, 2024, the Company net income totaled $582 thousand compared to a net income of $158 thousand for the three months ended June 30, 2024. The improvement can be attributed to an expanded margin and increased non-interest income quarter over quarter.

    Net interest income for the three months ended September 30, 2024, increased $120 thousand, to $3.6 million from $3.4 million at three months ended June 30, 2024. The Company’s net interest margin widened by nine basis points to 2.30% for the three months ended September 30, 2024, as compared to 2.21% for the three months ended June 30, 2024. The increase in margin can be attributed to a reduction in the Company’s average cost for its Interest-bearing liabilities.

    There was a reversal for credit losses of $38 thousand for the three months ended September 30, 2024, compared to a $9 thousand provision for credit losses taken for the three months ended June 30, 2024.

    Non-interest income increased $280 thousand, to $609 thousand for the three months ended September 30, 2024, compared with non-interest income of $329 thousand for the three months ended June 30, 2024. The majority of the increase can be attributed to a $245 thousand gain on extinguishment of the Company’s subordinated debt.

    Non-interest expenses totaled $3.4 million for the three months ended September 30, 2024, compared to $3.5 million for the three months ended June 30, 2024. The largest fluctuations quarter over quarter pertain to a 31% reduction in Professional fees, which decreased $70 thousand to a more normalized level during the quarter ended September 30, 2024.

    Nine months ended September 30, 2024 vs. September 30, 2023

    For the nine months ended September 30, 2024, net income totaled $637 thousand in comparison to $1.4 million for the nine months ended September 30, 2023. The decrease can mainly be attributed to higher costs paid on deposits which increased $5.0 million.

    Net interest income for the nine months ended September 30, 2024, decreased 18% or $2.2 million, to $10.2 million from $12.4 million at September 30, 2023. The decrease can be attributed to increased interest expense for deposits, partially offset by increased interest income earned on the loan portfolio.

    Provision for credit losses totaled $10 thousand for the nine months ended September 30, 2024, compared to a $103 thousand provision for the nine months ended September 30, 2023.

    Non-interest income totaled $1.2 million for the nine months ended September 30, 2024, compared with noninterest income of $758 thousand for the nine months ended September 30, 2023. The increase can be attributed to the gain recorded on extinguishment of sub-debt which is partially offset by a decrease in gains recorded from loan sales period over period.

    Operating expenses totaled $10.4 million for the nine months ended September 30, 2024, compared to $11.3 million for the nine months ended September 30, 2023, or a decrease of 8.1%. The decrease in non-interest expense can be attributed to initiatives taking effect from the cost-cutting program launched in 2024.

    About ES Bancshares Inc.
    ES Bancshares, Inc. (the “Company”) is incorporated under Maryland law and serves as the holding company for Empire State Bank (the “Bank”). The Company is subject to regulation by the Board of Governors of the Federal Reserve System while the Bank is primarily subject to regulation and supervision by the New York State Department of Financial Services. Currently, the Company does not transact any material business other than through the Bank, its subsidiary.

    The Bank was organized under federal law in 2004 as a national bank regulated by the Office of the Comptroller of the Currency. The Bank’s deposits are insured up to legal limits by the FDIC. In March 2009, the Bank converted its charter to a New York State commercial bank charter. The Bank’s principal business is attracting commercial and retail deposits in New York and investing those deposits primarily in loans, consisting of commercial real estate loans, and other commercial loans including SBA and mortgage loans secured by one-to-four-family residences. In addition, the Bank invests in mortgage-backed securities, securities issued by the U.S. Government and agencies thereof, corporate securities and other investments permitted by applicable law and regulations.

    We operate from our five Banking Center locations, a Loan Production Office and our Corporate Headquarters located in Staten Island, New York. The Company’s website address is www.esbna.com. The Company’s annual report, quarterly earnings releases and all press releases are available free of charge through its website, as soon as reasonably practicable.

    Forward-Looking Statements

    This release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements contained in this release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, words such as “may”, “will”, “expect”, “believe”, “anticipate”, “estimate” or “continue” or comparable terminology, are intended to identify forward-looking statements. These statements by their nature involve substantial risks and uncertainties, and actual results may differ materially depending on a variety of factors, many of which are not within ES Bancshares, Inc’s. control. The forward-looking statements included in this release are made only as of the date of this release. We have no intention, and do not assume any obligation, to update these forward-looking statements.

    Investor Contact:
    Peggy Edwards, Corporate Secretary
    (845) 451-7825

    ES Bancshares, Inc.  
    Consolidated Statements of Financial Condition  
    (in thousands)  
        September 30, December 31,   September 30,  
    2024  2023  2023   
          |—-(unaudited)—-|     |—-(unaudited)—-|  
    Assets            
    Cash and cash equivalents $ 25,436   32,728     29,439    
    Securities, net   22,595   15,220     15,143    
    Loans receivable, net:            
         Real estate mortgage loans   545,445   551,250     543,870    
         Commercial and Lines of Credit   14,729   12,823     13,950    
         Home Equity and Consumer Loans 709   700     704    
         Deferred costs   4,210   4,233     4,362    
         Allowance for Loan Credit Losses (5,100 ) (5,086 )   (5,028 )  
              Total loans receivable, net   559,993   563,920     557,858    
    Accrued interest receivable   2,670   2,625     2,533    
    Investment in restricted stock, at cost   4,342   5,191     5,782    
    Goodwill   581   581     581    
    Bank premises and equipment, net   5,050   5,600     5,608    
    Repossessed assets   –   –     164    
    Right of use lease assets   6,109   6,415     6,625    
    Bank Owned Life Insurance   5,450   5,341     5,305    
    Other Assets   1,014   1,129     1,278    
         Total Assets $ 633,240   638,750     630,316    
                 
    Liabilities & Stockholders’ Equity            
    Non-Interest-Bearing Deposits   97,867   107,849     125,562    
    Interest-Bearing Deposits   389,340   329,695     302,509    
    Brokered Deposits   20,773   56,581     42,873    
         Total Deposits   507,980   494,125     470,944    
    Bond Issue, net of costs   11,780   13,708     13,701    
    Borrowed Money   50,267   70,805     83,980    
    Lease Liability   6,382   6,672     6,877    
    Other Liabilities   9,710   7,578     9,208    
         Total Liabilities   586,119   592,888     584,710    
    Stockholders’ equity   47,121   45,862     45,606    
         Total liabilities and stockholders’ equity $ 633,240   638,750     630,316    
        
      ES Bancshares, Inc.
      Consolidated Statements of Income
      (in thousands)
                   
      Three Months Ended   Nine Months Ended
      September 30,
    2024    		 June 30,
    2024    		   September 30,
    2023    		   September 30,
    2024    		 September 30,
    2023
      |————–(unaudited)————–|   |—-(unaudited)—-|
    Interest income              
    Loans $ 7,315   $ 7,345   $ 6,716   $ 21,868 $ 19,284
    Securities   218     121     111     454   336
    Other interest-earning assets   428     561     319     1,252   1,140
         Total Interest Income   7,961     8,027     7,146     23,574   20,760
    Interest expense              
    Deposits   3,674     3,837     2,459     11,096   6,107
    Borrowings   720     743     710     2,261   2,220
         Total Interest Expense   4,394     4,580     3,169     13,357   8,327
              Net Interest Income   3,567     3,447     3,977     10,217   12,433
    (Rev)Prov for Credit Losses   (38 )   9     86     10   103
         Net Interest Income after (Rev)Prov for Credit Losses   3,605     3,438     3,891     10,207   12,330
    Non-interest income              
    Service charges and fees   264     200     205     636   508
    Gain on loan sales   –     –     12     1   138
    Gain on extinguishment of Sub-debt   245     –     –     245   –
    Other   100     129     39     271   112
         Total non-interest income   609     329     256     1,153   758
    Non-interest expenses              
    Compensation and benefits   1,719     1,728     1,856     5,168   5,664
    Occupancy and equipment   618     605     729     1,891   2,010
    Data processing service fees   315     317     397     958   1,039
    Professional fees   155     225     315     561   747
    FDIC & NYS Banking Assessments   100     99     71     296   183
    Advertising   84     85     107     244   305
    Insurance   55     46     54     151   140
    Other   365     401     446     1,103   1,198
         Total non-interest expense   3,411     3,506     3,975     10,372   11,286
              Income prior to tax expense   803     261     172     988   1,802
    Income taxes   221     103     39     351   414
              Net Income $ 582   $ 158   $ 133   $ 637 $ 1,388
                   
                       
      ES Bancshares, Inc.
      Average Balance Sheet Data
      For the Three Months Ended (dollars in thousands)
      September 30, 2024 June 30, 2024 September 30, 2023
      Avg Bal Interest Average Avg Bal Interest Average Avg Bal Interest Average
      Rolling Rolling Rolling Rolling Rolling Rolling
    Assets  3 Mos.  3 Mos. Yield/Cost  3 Mos.  3 Mos. Yield/Cost  3 Mos.  3 Mos. Yield/Cost
    Interest-earning assets:                  
        Loans receivable $ 566,031 $ 7,315 5.17 % $ 565,363 $ 7,345 5.20 % $ 555,919 $ 6,716 4.83 %
        Investment securities   22,480   218 3.87 %   15,513   121 3.13 %   16,151   111 2.75 %
        Other interest-earning assets   31,656   428 5.29 %   41,652   561 5.33 %   24,532   319 5.12 %
           Total interest-earning assets   620,167   7,961 5.13 %   622,528   8,027 5.16 %   596,602   7,146 4.79 %
    Non-interest earning assets   17,919       16,398       17,371    
           Total assets $ 638,086     $ 638,926     $ 613,973    
    Liabilities and Stockholders’ Equity                  
    Interest-bearing liabilities:                  
        Interest-bearing checking $ 33,512 $ 55 0.65 % $ 36,692 $ 71 0.77 % $ 29,162 $ 28 0.38 %
        Savings accounts   200,248   1,728 3.42 %   175,686   1,629 3.72 %   121,849   536 1.75 %
        Certificates of deposit   173,577   1,891 4.32 %   194,806   2,137 4.40 %   212,094   1,895 3.54 %
           Total interest-bearing deposits   407,337   3,674 3.58 %   407,184   3,837 3.78 %   363,105   2,459 2.69 %
        Borrowings   52,984   519 3.89 %   55,510   522 3.77 %   51,557   488 3.76 %
        Subordinated debenture   12,388   201 6.44 %   13,726   221 6.46 %   13,695   222 6.41 %
           Total interest-bearing liabilities   472,709   4,394 3.69 %   476,420   4,580 3.86 %   428,357   3,169 2.93 %
    Non-interest-bearing demand deposits   104,782       102,866       124,711    
    Other liabilities   13,842       13,429       15,348    
           Total non-interest-bearing liabilities   118,624       116,295       140,059    
    Stockholders’ equity   46,753       46,211       45,557    
           Total liabilities and stockholders’ equity $ 638,086     $ 638,926     $ 613,973    
    Net interest income   $ 3,567     $ 3,447     $ 3,977  
    Average interest rate spread     1.45 %     1.30 %     1.86 %
    Net interest margin     2.30 %     2.21 %     2.67 %
                       
                       
                   
    Five Quarter
    Performance Ratio Highlights    		 Three Months Ended
    September 30,
    2024    		 June 30,
    2024    		 March 31,
    2024    		 December 31,
    2023    		 September 30,
    2023    		  
    Performance Ratios (%) – annualized            
      Return(loss) on Average Assets   0.36   0.10    (0.07 )   0.05   0.09  
      Return(loss) on Average Equity   4.98   1.37    (0.90 )   0.73   1.17  
      Return(loss) on Average Tangible Equity   5.04   1.38    (0.91 )   0.74   1.18  
      Efficiency Ratio   81.70   92.86   101.08     99.31   93.89  
    Yields / Costs (%)            
      Average Yield – Interest Earning Assets   5.13   5.16   5.03     4.92   4.79  
      Average Cost – Interest-bearing Liabilities   3.69   3.86   3.82     3.55   2.93  
      Net Interest Margin   2.30   2.21   2.12     2.28   2.67  
    Capital Ratios (%)            
      Equity / Assets   7.44   7.12   7.34     7.18   7.24  
      Tangible Equity / Assets   7.36   7.03   7.26     7.09   7.15  
      Tier I leverage ratio (a)   9.18   9.30   9.52     9.45   9.54  
      Common equity Tier I capital ratio (a)   13.67   13.81   13.63     13.60   13.47  
      Tier 1 Risk-based capital ratio (a)   13.67   13.81   13.63     13.60   13.47  
      Total Risk-based capital ratio (a)   14.92   15.06   14.88     14.85   14.63  
    Stock Valuation            
      Book Value $ 6.85 $ 6.74 $ 6.75   $ 6.83 $ 6.79  
      Tangible Book Value $ 6.77 $ 6.65 $ 6.67   $ 6.74 $ 6.71  
      Shares Outstanding (b)   6,878   6,884   6,834     6,714   6,714  
    Asset Quality (%)            
      ACL / Total Loans   0.90   0.90   0.89     0.89   0.89  
      Non Performing Loans / Total Loans   0.91   0.22   0.24     0.22   0.25  
      Non Performing Assets / Total Assets   0.81   0.19   0.21     0.22   0.25  
                   
      (a) Ratios at Bank level             (b) Shares information presented in thousands        
                   

    The MIL Network –

  • MIL-OSI NGOs: MSF condemns violence against our team in Mali

    Source: Médecins Sans Frontières –

    • An MSF team, along with civilians and community health workers, were attacked on 14 October in the Segou region of Mali.
    • As a result, we had to temporarily suspend our medical activities in the commune of Nampala.
    • Discussions with stakeholders are underway to enable us to resume providing medical care as soon as possible.

    On 14 October, on the outskirts of Nampala in the Segou region of central Mali, a Médecins Sans Frontières (MSF) team and community health workers were violently attacked and robbed by armed men, along with civilians. The men who carried out the attack were conducting regular military operations in the area. Our team was providing care to the community when the incident took place.

    This violence against civilians and humanitarian workers is unacceptable. MSF reiterates that all parties to the conflict must respect civilians, humanitarian staff, health facilities, and patients.

    Following this incident, we had to take the difficult decision to temporarily suspend our medical activities in the Nampala area, depriving communities of essential care. Discussions are underway with all local, regional, and national stakeholders to ensure that such violence does not occur again. This would enable us to resume providing essential care to people as soon as possible, with complete safety for our teams.
     
    MSF has been present in Nampala since 2022 and is currently the only international NGO active in the area. Our staff provide vital free medical care to communities on the outskirts, as well as to people displaced by the many military operations in the area. Years of conflict have led to high health needs in this region, and now the number of cases of malaria is rising, which can be fatal for children under five years old and pregnant women.

    MIL OSI NGO –

  • MIL-OSI Global: How does REACH, the EU regulation governing chemical substances, work?

    Source: The Conversation – France – By Johanna Berneron, Toxicologue reglementaire, Agence nationale de sécurité sanitaire de l’alimentation, de l’environnement et du travail (Anses)

    Adopted by the European Union in 2006, the REACH regulation (Registration, Evaluation, Authorisation and Restriction of Chemicals) governs the manufacture and use of chemical substances in Europe. Despite its importance, REACH has often been criticised for being slow and complex. These concerns prompted calls for reform as part of the European Green Deal, though the European Commission ultimately postponed the revision. Various NGOs have called for this reform, and in early 2024, the French National Assembly’s European Affairs Committee reignited the conversation, with a resolution currently under review.

    Nevertheless, REACH remains an ambitious and indispensable regulation that protects human health and the environment from the hazards posed by chemical substances. While it’s not perfect, it represents progress in comparison with previous regulatory frameworks. One notable success is the ban on bisphenol A (BPA), a controversial chemical previously used in baby bottles.

    Understanding the REACH process

    REACH is straightforward if you break down its steps:

    • Substance registration: Manufacturers must submit detailed information on the chemical, toxicological and environmental properties of substances they produce or import. If no data exists, they are required to generate it. Unlike previous regulations and directives, REACH places the burden of proof on companies. To comply with the regulation, companies must identify and adequately manage the risks associated with the substances they manufacture and market in the EU. In particular, they must demonstrate how the substances can be used safely and communicate risk management measures to users.

    • Compliance checks: The European Chemicals Agency (ECHA) ensures that the registration dossiers are complete and meet regulatory requirements. This is known as compliance analysis.

    • Substance evaluation: If concerns arise, a substance undergoes further evaluation to assess risks to human health and the environment. This procedure is conducted by the member states (with ANSES representing France) and enables the authorities to request additional information from industries.

    Member states, including ANSES, carry out these evaluations, focusing on national health priorities. Substances flagged for further assessment are added to the Community Rolling Action Plan (CoRAP), a three-year plan outlining substances to be evaluated by member states.

    If additional safety measures are needed, several outcomes are possible:

    • SVHC identification: Substances of Very High Concern (SVHC) may require authorisation for continued use.

    • Restrictions: Can limit or ban certain uses of a substance.

    • Classification: Hazardous substances may be classified as carcinogenic, toxic to reproduction or in other such categories and must be labelled for these hazardous properties.

    Bisphenol A: a case study

    Bisphenol A (BPA) exemplifies REACH’s impact. In 2017, Germany initiated an evaluation of BPA, resulting in its classification as a reprotoxic substance under the EU’s Classification, Labelling and Packaging (CLP) regulation. BPA was also identified as an SVHC due to its endocrine-disrupting properties, which pose risks to human health and the environment.

    Although these various management measures have faced legal challenges from industry, including through appeals, all have been upheld. They have proven effective, as highlighted by a European Environment Agency (EEA) report showing that BPA concentrations in Europeans’ urine are decreasing, in contrast to other bisphenols.

    The role of ANSES

    ANSES plays a key role in implementing the EU’s REACH regulation, supporting French authorities in managing chemical risks. Among its responsibilities, ANSES can identify a substance as an SVHC, preparing dossiers that can lead to these substances being added to Annex XIV of REACH. Once listed, the substances are restricted, and their use is only allowed if the European Commission specifically authorises it. Such authorisations are granted when it’s proven that the risks are controlled or the socioeconomic benefits outweigh them.

    Before a substance is included in Annex XIV, it must first be identified as an SVHC. This step is aimed at encouraging the gradual replacement of these hazardous chemicals with safer alternatives, protecting both human health and the environment.

    ANSES also prepares restriction dossiers, evaluating the socioeconomic impact of limiting or banning substances that pose unacceptable risks. These restrictions can apply to chemicals in their pure form, in mixtures, or within products.

    Additionally, ANSES produces harmonised classification dossiers for chemicals like carcinogens, mutagens, and reproductive and respiratory sensitizers, for instance. Once included in Annex VI of the CLP regulation, industries must label their products accordingly, alerting users – especially workers – about potential hazards and ensuring proper precautions are taken.

    Room for improvement

    Despite improvements, the REACH regulation still faces significant challenges. Many industries, and particularly smaller companies, struggle to comply due to the high cost of registration. In 2018, the German Federal Institute for Risk Assessment (BfR) reported that 31% of chemical substances produced in or imported into the EU in quantities over 1,000 tonnes per year failed to meet REACH requirements.

    In response, ECHA has enhanced its chemical data management, but industries remain unsatisfied, accusing ECHA of pushing for classifications or requesting new tests without robust toxicological justifications. These requests often aim to address data gaps in industry-provided dossiers while minimising animal testing.

    REACH’s main limitation is its dependence on industry-submitted data to evaluate chemical risks. These data can be incomplete, outdated or missing, forcing regulators to request additional information, which delays risk assessments and decision-making.

    Consequently, the evaluation of substances and review of authorisation requests are often slow, delaying the entry of safer, innovative chemicals. Many potentially hazardous substances remain on the market without adequate regulation, a persistent concern from a public health standpoint.

    A revision of REACH is expected to streamline processes, improve efficiency and impose stricter penalties on non-compliant industries, potentially revoking their REACH registration numbers. This would prevent the sale of substances without the necessary data.

    These changes align with the European Commission’s strategy for a toxic-free environment under the European Green Deal. However, there is concern that lobbying could undermine this vital regulation, a global standard in chemical safety.

    Despite its complexities, REACH remains a critical safeguard for European public health and environmental protection.

    Johanna Berneron ne travaille pas, ne conseille pas, ne possède pas de parts, ne reçoit pas de fonds d’une organisation qui pourrait tirer profit de cet article, et n’a déclaré aucune autre affiliation que son organisme de recherche.

    – ref. How does REACH, the EU regulation governing chemical substances, work? – https://theconversation.com/how-does-reach-the-eu-regulation-governing-chemical-substances-work-241931

    MIL OSI – Global Reports –

  • MIL-OSI Global: Abortion and marijuana ballot measures may bring out Florida Democrats, but the GOP has 1M more active voters in the Sunshine State

    Source: The Conversation – USA – By Daniel A. Smith, Professor of Political Science, University of Florida

    Could ballot initiatives bring more Democrats to the polls in Florida? Jeffrey Greenberg/Universal Images Group via Getty Images

    The number of voters registered as Democrats has tumbled in recent years in Florida, effectively removing the Sunshine State as a battleground and placing it firmly in the red column.

    At least that’s the dominant narrative found in many media outlets. And it is true that Republican Donald Trump won the state in both 2016 and 2020.

    Still, Nikki Fried, the Florida Democratic party chair, thinks Florida Democrats are making a “clear resurgence.”

    Buoyed by broad support for two statewide initiatives on the ballot – the legalization of recreational marijuana and the establishment of a constitutional right to abortion up to viability – Fried is predicting robust turnout of Democratic voters this November despite concerns hurricanes Helene and Milton may suppress turnout.

    Fried suggests that Democratic presidential nominee Vice President Kamala Harris and Democratic U.S. Senate nominee Debbie Mucarsel-Powell will benefit from the two hot issues on the ballot. A ban on most abortions after six weeks went into effect in Florida on May 1, 2024, with the state Supreme Court at the same time deciding to put the issue to voters.

    The marijuana ballot measure looks likely to pass, while support for the abortion access measure is more uncertain. But the point is that these are the types of issues that bring Democrats – and unaffiliated voters – out to the polls.

    I’ve written extensively on direct democracy and Florida politics. My research shows how ballot measures can have what I call “educative effects,” not only bolstering turnout but also priming voters to choose candidates who support the same initiatives they do.

    This goes a long way to explain Republican Gov. Ron DeSantis’ efforts to thwart both measures, going so far as to use taxpayers’ dollars to oppose the abortion amendment.

    Florida’s abortion amendment needs to pass with 60% of the vote, so turnout is key.
    Rebecca Blackwell/AP Photo

    Active voters

    But Fried and the Democrats face a major hurdle – a widening voter registration gap – as Florida Republicans are quick to point out. Over the past several years, the GOP steadily narrowed the Democratic Party’s lead in voter registrations in the Sunshine State, finally surpassing Democrats’ plurality of active registered voters in 2021.

    Fried thinks the widening gap between registered Republicans and Democrats is a mirage. She claims that the Republican advantage is an artifact of a shift in state law that more aggressively reclassifies voters as being “inactive” if they don’t vote in two general election cycles or keep their information on file with local supervisors of elections.

    There is no question that the law, which went into effect in 2022, has deflated Democratic registration numbers. Here are the stats.

    According to the Florida secretary of state’s website, updated on Oct. 7, 2024, there are more than 1 million more registered Republicans (5,455,480) than Democrats (4,400,561) in Florida, followed by no party affiliation (3,584,982) and those registered with minor parties (404,890). That is, Republicans appear to account for more than 39% of registered voters in the Sunshine State, while Democrats make up less than 32%.

    However, the numbers posted on Florida’s official website, which amount to nearly 13.7 million registered voters, are misleading: They tally only active voters in the state.

    There are more than 2.5 million inactive voters on the rolls as of Aug. 1, 2024, according to my calculation of publicly available raw voter files. This brings the total number of registered voters in Florida to more than 16 million people.

    Inactive and unaffiliated voters

    Inactive registered voters have every right to cast ballots just like active voters. The main difference between the two groups is that inactive voters didn’t vote in 2020 or 2022.

    There are hundreds of thousands more inactive Democrats and unaffiliated voters than Republicans on the rolls. This is likely the result of lackluster campaigns in the state for Democratic presidential candidate Joe Biden in 2020 and for Democratic gubernatorial candidate Charlie Crist in 2022. Uninspired Democrats and unaffiliated voters didn’t show up to the polls, particularly in 2022.

    Currently, according to the publicly available Florida voter rolls, there are over 900,000 inactive Democrats and over 921,000 inactive unaffiliated voters, compared with fewer than 643,000 inactive Republicans. So, while Republicans account for 39% of active voters, they account for only 25% of inactive voters.

    To sharpen the point: 1 in 10 Republicans are currently inactive, whereas nearly 2 in 5 of all registered Democrats and more than 1 in 5 unaffiliated voters in Florida are inactive. These inactive voters tend not to receive the same attention from parties and groups trying to mobilize registered voters to the polls.

    There’s no question that the fortunes of the Florida Democratic Party have tumbled over the past decade. Twelve years ago, just prior to the 2012 general election, Democrats accounted for 40% of all active registered voters. It’s been a sharp decline down to 32%.

    But the difference has not been made up by Republicans. From 2012 to 2024, the share of active voters registered as Republicans increased by only 3 percentage points, from 36% to 39%.

    The biggest increase in the share of active voters over the same period is with unaffiliated voters, whose share jumped 5 percentage points, from less than 21% in 2012 to 26% in 2024. These unaffiliated voters in Florida tend to be younger and Hispanic, many of whom likely have been turned off by the toxic political landscape in the state.

    But back to the November election and Fried’s prognostications.

    Will the two statewide ballot measures – Amendment 3 on recreational marijuana and Amendment 4 on reproductive rights – offset the rise in Republican voter registration in Florida? Is the sizable lead of Republican active voters a mirage, only to disappear as Election Day nears?

    It will come down to turnout and whether inactive Democratic and unaffiliated voters’ support for Amendment 3 and Amendment 4 primes them to back the Democratic ticket.

    Daniel A. Smith does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Abortion and marijuana ballot measures may bring out Florida Democrats, but the GOP has 1M more active voters in the Sunshine State – https://theconversation.com/abortion-and-marijuana-ballot-measures-may-bring-out-florida-democrats-but-the-gop-has-1m-more-active-voters-in-the-sunshine-state-239538

    MIL OSI – Global Reports –

  • MIL-OSI Global: Misinformation is more than just bad facts: How and why people spread rumors is key to understanding how false information travels and takes root

    Source: The Conversation – USA – By Kate Starbird, Professor of Human Centered Design & Engineering, University of Washington

    Spreading rumors is problematic but understandable. H. Armstrong Roberts/ClassicStock/Archive Photos via Getty Images

    On Sept. 20, 2024, a newspaper in Montana reported an issue with ballots provided to overseas voters registered in the state: Kamala Harris was not on the ballot. Election officials were able to quickly remedy the problem but not before accusations began to spread online, primarily among Democrats, that the Republican secretary of state had purposefully left Harris off the ballot.

    This false rumor emerged from a common pattern: Some people view evidence such as good-faith errors in election administration through a mindset of elections being untrustworthy or “rigged,” leading them to misinterpret that evidence.

    As the U.S. approaches another high-stakes and contentious election, concerns about the pervasive spread of falsehoods about election integrity are again front of mind. Some election experts worry that false claims may be mobilized – as they were in 2020 – into efforts to contest the election through tactics such as lawsuits, protests, disruptions to vote-counting and pressure on election officials to not certify the election.

    Our team at the University of Washington has studied online rumors and misinformation for more than a decade. Since 2020, we have focused on rapid analysis of falsehoods about U.S. election administration, from sincere confusion about when and where to vote to intentional efforts to sow distrust in the process. Our motivations are to help quickly identify emerging rumors about election administration and analyze the dynamics of how these rumors take shape and spread online.

    Through the course of this research we have learned that despite all the discussion about misinformation being a problem of bad facts, most misleading election rumors stem not from false or manipulated evidence but from misinterpretations and mischaracterizations. In other words, the problem is not just about bad facts but also faulty frames, or the mental structures people rely on to interpret those facts.

    Misinformation may not be the best label for addressing the problem – it’s more an issue of how people make sense of the world, how that sensemaking process is shaped by social, political and informational dynamics, and how it begets rumors that can lead people to a false understanding of events.

    Rumors – not misinformation

    There is a long history of research on rumors going back to World War II and earlier. From this perspective, rumors are unverified stories, spreading through informal channels that serve informational, psychological and social purposes. We are applying this knowledge to the study of online falsehoods.

    Though many rumors are false, some turn out to be true or partially true. Even when false, rumors can contain useful indications of real confusions or fears within a community.

    Rumors can be seen as a natural byproduct of collective sensemaking – that is, efforts by groups of well-meaning people to make sense of uncertain and ambiguous information during dynamic events. But rumors can also emerge from propaganda and disinformation campaigns that lead people to misinterpret or mischaracterize their own and others’ experiences.

    University of Washington’s Kate Starbird explains rumors as collective sensemaking.

    Evidence, frames and (mis)interpretations

    Prior research describes collective sensemaking as a process of interactions between evidence and frames. Evidence includes the things people see, read and hear in the world. Frames are mental schema that shape how people interpret that evidence.

    The relationship between evidence and frames flows in two directions. When people encounter novel events or new evidence, they try to select the best frame from their mental filing cabinets. The selected frame then determines what evidence they focus on and what evidence they exclude in their interpretations. This evidence-frame view of collective sensemaking can help researchers understand rumors and disinformation.

    Everyone has their own ways of interpreting events based on their unique experiences. But your frames are not yours alone. Frames are shaped, sometimes intentionally, by information from media, political leaders, communities, colleagues, friends, neighbors and family. Framing – the process of using, building, reinforcing, adapting, challenging and updating frames – can be a deliberate strategy of political communication.

    Frames play a role in generating rumors, shaping how people interpret emerging events and novel evidence. False rumors occur when sensemaking goes awry, often due to people focusing on the wrong piece of evidence or applying the wrong frame. And disinformation, from this perspective, is the intentional manipulation of the sensemaking process, either by introducing false evidence or distorting the frames through which people interpret that evidence.

    In 2020, we saw these dynamics at work in a rumor about Sharpie pens in Arizona. In the lead-up to the election, President Donald Trump and his allies repeatedly alleged that the election would be rigged – setting a powerful frame for his followers. When voters noted that the Sharpie pens provided by election officials were bleeding through their ballots, many interpreted their experiences through the frame of a “rigged election” and became concerned that their ballots would not be counted.

    A Maricopa County, Arizona, election worker counts ballots in the 2020 election as false rumors that Sharpie pens were ruining ballots spread online.
    AP Photo/Matt York

    Some people shared those experiences online, where they were soon amplified and given meaning by others, including online influencers. Concerns and suspicions grew. Soon, members of Trump’s family were repeating false claims that the bleed-through was systematically disenfranchising Republican voters. The effect was circular and mutually reinforcing. The strategic frame inspired misinterpretations of evidence – real bleed-through falsely seen as affecting ballot counting – that were shared and amplified, strengthening the frame.

    Social media sensemaking

    Collective sensemaking is increasingly taking place online, where it is profoundly shaped by social media platforms, from features such as repost and like buttons to algorithmic recommendations to the connections between accounts.

    Not so long ago, many people hoped that the internet would democratize information flows by removing the historical gatekeepers of information and disrupting their ability to set the agenda – and the frames – of conversation. But the gatekeepers have not been erased; they have been replaced. A group of newsbrokering influencers have taken their place, in part by gaming the ways online systems manipulate attention.

    Many of these influencers work by systematically seeking out and amplifying content that aligns with prevailing political frames set by elites in politics and media. This gives creators the incentive to produce content that resonates with those frames, because that content tends to be rewarded with attention, the primary commodity of social media.

    These dynamics were at work in February 2024, when an aspiring creator produced a man-on-the-street video interviewing migrants to the U.S. that was selectively edited and captioned to falsely claim to show undocumented migrants planning to vote illegally in U.S. elections. This resonated with two prominent frames: the same rigged-election frame from 2020 and another that framed immigration as harmful to the U.S.

    The video was shared across multiple platforms and exploded in views after being amplified by a series of accounts with large followings on X, formerly Twitter. X CEO Elon Musk commented with an exclamation point on one post with the embedded video. The creator soon found himself on Fox News. He currently has hundreds of thousands of followers on TikTok and Instagram and continues to produce similar content.

    Interactions between influencers and online audiences result in content that fits strategic frames. Emerging events provide new evidence that people can twist to fit prevailing frames, both intentionally and unintentionally. Rumors are the byproducts of this process, and online attention dynamics fuel their spread.

    Collective sensemaking and election 2024

    Heading into the 2024 election, false and misleading claims about election integrity remain widespread. Our team has tracked more than 100 distinct rumors since the beginning of September. The machinery for quickly converting perceived evidence from elections into widely shared rumors and conspiracy theories is increasingly well oiled.

    Experts discuss election integrity and efforts to undermine voter confidence.

    One concerning development is an increase in so-called election integrity organizations that seek to recruit volunteers who share the rigged-election frame. The groups aim to provide volunteers with tools to streamline the collection and amplification of evidence to support the rigged-election frame.

    One worry is that these volunteers may misinterpret what they see and hear on Election Day, generating additional rumors and false claims about election integrity that reinforce that increasingly distorted frame. Another is that these false claims will feed lawsuits and other attempts to contest election results.

    However, we hope that by shedding light on some of these dynamics, we can help researchers, journalists, election officials and other decision-makers better diagnose and respond to rumors about election integrity in this cycle. Most importantly, we believe that this collective sensemaking lens can help us all to both empathize with well-meaning people who get caught up in sharing false rumors and see how propagandists manipulate these processes for their gain.

    Kate Starbird receives funding from the National Science Foundation, Knight Foundation, Hewlett Foundation, and Craig Newmark Philanthropies.

    Stephen Prochaska has received funding from the National Science Foundation, Knight Foundation, and Hewlett Foundation.

    – ref. Misinformation is more than just bad facts: How and why people spread rumors is key to understanding how false information travels and takes root – https://theconversation.com/misinformation-is-more-than-just-bad-facts-how-and-why-people-spread-rumors-is-key-to-understanding-how-false-information-travels-and-takes-root-241748

    MIL OSI – Global Reports –

  • MIL-OSI Video: President Biden and the First Lady Host Halloween at the White House

    Source: United States of America – The White House (video statements)

    President Biden and the First Lady host local area students, military-connected children, and neighborhood families for trick-or-treating.

    The White House

    https://www.youtube.com/watch?v=nhw1vbyUaoU

    MIL OSI Video –

  • MIL-OSI Video: Department of State Daily Press Briefing – October 30, 2024 – 1:15 PM

    Source: United States of America – Department of State (video statements)

    Spokesperson Matthew Miller leads the Department Press Briefing, at the Department of State, on October 30, 2024

    ———-
    Under the leadership of the President and Secretary of State, the U.S. Department of State leads America’s foreign policy through diplomacy, advocacy, and assistance by advancing the interests of the American people, their safety and economic prosperity. On behalf of the American people we promote and demonstrate democratic values and advance a free, peaceful, and prosperous world.

    The Secretary of State, appointed by the President with the advice and consent of the Senate, is the President’s chief foreign affairs adviser. The Secretary carries out the President’s foreign policies through the State Department, which includes the Foreign Service, Civil Service and U.S. Agency for International Development.

    Get updates from the U.S. Department of State at www.state.gov and on social media!
    Facebook: https://www.facebook.com/statedept
    Twitter: https://twitter.com/StateDept
    Instagram: https://www.instagram.com/statedept
    Flickr: https://flickr.com/photos/statephotos/

    Subscribe to the State Department Blog: https://www.state.gov/blogs
    Watch on-demand State Department videos: https://video.state.gov/
    Subscribe to The Week at State e-newsletter: http://ow.ly/diiN30ro7Cw

    State Department website: https://www.state.gov/
    Careers website: https://careers.state.gov/
    White House website: https://www.whitehouse.gov/
    Terms of Use: https://state.gov/tou

    #StateDepartment #DepartmentofState #Diplomacy

    https://www.youtube.com/watch?v=GGF6n5qft9o

    MIL OSI Video –

  • MIL-OSI Video: Secret Training! U.S. Army

    Source: US Army (video statements)

    About the U.S. Army:

    The Army Mission – our purpose – remains constant: To deploy, fight and win our nation’s wars by providing ready, prompt & sustained land dominance by Army forces across the full spectrum of conflict as part of the joint force.

    Interested in joining the U.S. Army?
    Visit: spr.ly/6001igl5L

    Connect with the U.S. Army online:
    Web: https://www.army.mil
    Facebook: https://www.facebook.com/USarmy/
    X: https://www.twitter.com/USArmy
    Instagram: https://www.instagram.com/usarmy/
    LinkedIn: https://www.linkedin.com/company/us-army
    #USArmy #Soldiers #Military #Shorts #VCorps

    https://www.youtube.com/watch?v=z6tNID8xUbQ

    MIL OSI Video –

  • MIL-OSI United Kingdom: Sharing the stories and lessons of witch-hunting in Scotland The University of Aberdeen is introducing people around the world to the history of witch-hunting and the witch trials in Scotland.

    Source: University of Aberdeen

    North Berwick witchesThe University of Aberdeen is introducing people around the world to the history of witch-hunting and the witch trials in Scotland.
    With wide-brimmed hats, black cats, broomsticks and crooked noses, witches in popular culture are instantly recognisable a staple of Halloween events.
    But in previous centuries changes in attitudes and approaches to magic led to suspicion and accusations which spread through Scottish communities as paranoid hunts sought to root out those thought to derive powers from the Devil.
    The University has created an online short course ‘Scottish Witch-Hunting and the Rise of a Protestant Culture 1590-1690’ which provides an opportunity for anyone with a professional or personal interest in the history of Scottish witchcraft to take an in-depth look at Scottish attitudes and approaches to magic, the preternatural and the supernatural.
    Professor Bill Naphy, Emeritus Professor of History, said: “Witches may been seen by guisers today as a bit of fun but in the middle of the 16th century, they were seen as conspirators trying to destroy society.
    “This wasn’t unique to Scotland but the ripples of panic it caused were far reaching with Scotland’s execution rate per head of population about five times the European average.
    “It means this is a really important area for study, not just in understanding about witchcraft and the brutal investigations, trials and often executions of those accused but in piecing together the wider issues and changes facing society at this time.”
    The course explores the involvement of King James VI and I who in 1591 became convinced that a group of North Berwick witches tried to kill him and his wife when their vessel was caught in storms as they attempted to travel to Denmark.
    As a result he becomes the only reigning monarch to ever serve as a judge in a witch trial and writes a book about witchcraft titled ‘Daemonologie’. This originally circulates in manuscript form and Professor Naphy says it was ‘clearly aimed at his sons so they will know when they become powerful how to find witches’ but is published widely following a panic which begins in Aberdeen in January 1597.
    Professor Naphy explains: “The North Berwick witch trials of 1591 are notorious because of the sheer number of ‘witches’, widely agreed to be around 70 most of whom were women, executed in one hunt in a small Scottish town.
    “But the lesser-known Aberdeen witch hunt in 1597 demonstrates how far panic swept across Scottish society, even prompting the demand for the publication of the King’s book.
    “City leaders in Aberdeen became convinced that they had such a serious problem on their hands that they were able to secure a five-year commission to find and try all witches in the north-east.
    “Once the idea took root that there was a witch plot or ‘cell’ the threshold for evidence necessary to prove guilt decreased and investigators become increasingly concerned with finding wider connections.
    “In Aberdeen this saw accusations levied against the Leys family and at his trail Thomas Leys confessed, undoubtedly under coercion, to having led a coven of witches in a dance at the fish cross the previous Halloween – a satanic party right in front of the tollbooth.”
    This soon led to extensive witch hunts across not only the north-east but many parts of Scotland.
    “Thomas implicated a number of women that took the commissioners from Aberdeen to the tiny village of Lumphanan in their hunt for conspiratorial cells,” Professor Naphy added.
    “In total 24 ‘witches’ were executed in Aberdeen and Aberdeenshire, including a significant proportion of the adult female population of Lumphanan and this little known 1597 hunt triggered panic across many regions of Scotland that resulted in many more deaths through execution.
    “This is an important period to highlight dangers of a moral panic and study of these events serves as a timely reminder that while today witches are seen as part of the fun of Halloween, we should not forget brutal treatment and execution of those accused of so-called crimes of dark magic.”

    MIL OSI United Kingdom –