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Category: KB

  • MIL-OSI United Kingdom: Derry Halloween showcased on ITV’s This Morning

    Source: Northern Ireland – City of Derry

    Derry Halloween showcased on ITV’s This Morning

    30 October 2024

    Up to 900,000 viewers across GB will see the Derry Halloween festivities today (30th October) on ITV’s daytime TV show This Morning, with filming supported by Tourism Ireland.

    The segment is fronted by celebrity chef Donal Skehan, who travels along the Awakening the Walled City Trail, bringing to life the rich folklore, history, and heritage of the city’s Halloween celebrations. The segment will include spooky stories with Charlene McCrossan from McCrossan Walking Tours, an interview with Jacqueline Whoriskey, the Festival and Events Manager with Derry City and Strabane District Council, and a special appearance from the city’s very own Winifred the Witch!

     

    Alice Mansergh, Chief Executive of Tourism Ireland, said: “Tourism Ireland was delighted to work with Donal Skehan, bringing the magic of Derry Halloween to hundreds of thousands of GB viewers on ITV’s This Morning. Halloween is one of the world’s favourite festivals but not everyone knows that it originated on these shores around 2,000 years ago. At Tourism Ireland, we’re excited to invite visitors to experience Halloween where it all started, taking in our world-class festivals, spectacular scenery and warm hospitality.” 

    A healthy seasonal spread of overseas tourism business supports quality jobs in tourism, by creating a longer or year-round season. Tourism Ireland markets Halloween as an iconic reason to visit in autumn. Its ‘Home of Halloween’ multi-market campaign, celebrating the island of Ireland as the birthplace of Halloween around 2,000 years ago, is under way. The organisation’s aim is to raise awareness at scale and target consideration and bookings for this autumn, with Derry Halloween (the largest festival of its type in Europe), in particular, adding to the appeal of autumn scenery and heritage. Since it was launched, the campaign video has achieved results reflecting a strong audience response: 14 million views on English language YouTube; and over 100 million views across languages and channels (TV, cinema, online). Among those who’ve seen the campaign, there is now twice the level of recognition that Halloween began in Ireland and seven out of ten said they’re more likely to want to visit.

    MIL OSI United Kingdom –

    January 25, 2025

  • MIL-OSI United Kingdom: Developers sought for next phase of house building at Ashton Green

    Source: City of Leicester

    DEVELOPERS are being sought to deliver the next wave of homes on a major new housing development on the edge of Leicester.

    Up to 3,000 new homes are set to built at Ashton Green, near Beaumont Leys, as part of an ambitious housing-led mixed use development scheme led by Leicester City Council.

    Now the city council is inviting developers and housebuilders to bid for the next phases of residential development, which would see up to 525 new homes built on 55-acres of allocated land.

    This will represent the fourth phase of housing development at Ashton Green.

    The first phase saw 100 new houses built by Morris Homes in 2020. A second phase is now under construction, with 130 of the 307 new houses to be built by Tilia Homes now complete and occupied.

    A third phase of house building is expected to get underway next year and would see 440 new dwellings built by Morris Homes.

    It is likely the successful bidder for the fourth phase of residential development will being construction work by late 2026.

    City Mayor Peter Soulsby said: “Ashton Green is an essential part of the city’s commitment to meeting the growing and urgent need for new homes in Leicester over the next ten to fifteen years, and it will make huge contribution to local economic growth.

    “This is an extremely ambitious and complex project and I proud that we are now ready to enter a next phase of development, which will see more than 500 additional new homes built. This would help bring the total number of new homes built or in the process of being built at Ashton Green close to 1,400.”

    Leicester City Council is the principal landowner and promoter of the Ashton Green development, which is a mixed-use urban extension on a 320-acre greenfield site to the north of Leicester. Around 13-acres of land allocated for the Ashton Green development is owned by Diocese of Leicester.

    The major sustainable urban development scheme aims to create a community of up to 3,000 much-needed new homes, along with community and health facilities, employment land and retail.

    Up to 30 per cent of the new homes to be built at Ashton Green will be affordable homes for rent and for shared ownership.

    Interested parties can find out more about the tender process at www.visitleicester.info/invest/sites-properties/ashton-green

    The closing date for submission of bids to tender is Friday 13 December 2024.

    MIL OSI United Kingdom –

    January 25, 2025

  • MIL-OSI USA: Friend of the IAM, Trailblazing Chicago Rail Leader Honored with Metra Train Car

    Source: US GOIAM Union

    On Oct. 29, 2024, former Chicago Metra Board Chair Romayne Brown, the first African-American woman to chair the board, was honored with a Metra Train Car dedicated to her tireless efforts as the Metra Board Chair. 

    During her term as chair, Brown helped lead the agency through COVID-19 challenges that became some of the most difficult times in the agency’s history. Brown has more than 31 years of operational and customer service experience at the Chicago Transit Authority (CTA), finishing her career with the agency in 2010 as the vice president of rail operations, which helped her navigate the agency through countless issues. 

    “I have worked with Chair Brown over the years, and she is one of the few people I have met who has always been able to see the power of working with labor,” said IAM Local 498 Chairman David May. “She has always helped the push agency to see labor’s perspective on issues. Chair Brown has always treated the Machinists members with dignity and respect and always found time to walk the shop floors to thank Metra’s unionized workforce for their hard work and dedication to the agency. Local 498 will be forever grateful for her incredible leadership.” 

    Brown was named to the board in 2013 and then held the Vice Chair role from October 2016 to 2020. She held the Metra Board Chair position from 2020 to 2024.

    Share and Follow:

    MIL OSI USA News –

    January 25, 2025

  • MIL-OSI Security: Man jailed for 22 years after detectives linked him to violent robbery in Barnet

    Source: United Kingdom London Metropolitan Police

    A man has been sentenced to life imprisonment after a homicide investigation identified him as one of a gang of people who carried out a violent robbery in Barnet.

    During a trial at the Old Bailey, a jury heard the group all travelled to 30-year-old Olsi Kuka’s home address in High Road, N20, shortly before 03:00hrs on 11 May 2022.

    They were split into two Mercedes cars that parked outside before the group forced entry into the flat and attacked Olsi, stabbing him numerous times.

    They then ransacked his flat, searching for drugs and money they believed Olsi had in his property.

    After the men left the flat, police and paramedics were called. Despite the efforts of emergency services, Olsi sadly died a short time later.

    A post-mortem examination concluded that the stab wounds had been caused by ‘at least’ two different knives. There were also four metal ball-bearings found in his scalp consistent with being shot by an air weapon.

    A murder investigation, led by homicide detectives from the Met’s Specialist Crime Command, used CCTV and mobile phone analysis to identify the five men involved in the attack.

    Detectives discovered that one of the cars had travelled to the address four days before on a reconnaissance trip.

    A police search dog also helped provide vital evidence to secure the conviction of a man for murder.

    Dog handler PC Neil Dobson and a police dog called Monty searched managed to find £8,000 in cash hidden in the headboard of a bed that had not been found by the group.

    Following a trial at the Old Bailey, Reuben Bernard, 19, (22.03.05) of Wootton, Northampton, was convicted of murder.

    On Tuesday, 29 October, Bernard was sentenced to life imprisonment, to serve 22 years. He was also sentenced to seven years for conspiracy to rob and three years for causing grievous bodily harm; these sentences will be served concurrently.

    Detective Chief Inspector Neil Rawlinson said: “The violence used in this attack was calculated, vicious and unrelenting.

    “The five men that have been sentenced had planned to rob Olsi and were prepared to use any force necessary in order to get what they wanted.

    “We continue to pursue lines of enquiry that may provide evidence as to the involvement of other people in this atrocious act of violence.”

    Four other men have been sentenced for their involvement. They are:

    Santana Thompson, 21 (04.02.03), of Aldriche Way was sentenced to 10 years in prison for Olsi’s manslaughter, 10 years for conspiracy to rob and one year for Section 20 wounding.

    Daige Ramsey, 25 (30.11.98) of Winchester Road, E4 was convicted of the manslaughter of Olsi Kuka and jailed for 11 years. He was also sentenced to 10 years for conspiracy to rob and 12 months for section 20 wounding.

    Ozan Seran 29 (05.06.95), of no fixed address pleaded guilty to manslaughter and was sentenced to 12-and-a-half years’ imprisonment. He was also sentenced to 11-and-a-half years for conspiracy to rob and nine months for section 20 wounding.

    Bulent Bakir, 27 (05.01.97) of Old Road, Enfield, was convicted of conspiracy to rob and sentenced to six years.

    MIL Security OSI –

    January 25, 2025

  • MIL-OSI Security: Dartmouth — Nova Scotia RCMP release impaired statistics for July to September 2024

    Source: Royal Canadian Mounted Police

    As Nova Scotia’s provincial police, road safety is a top priority for the Nova Scotia RCMP. For the months of July, August, and September, 274 drivers in the province were charged with impaired-related offences.

    • 234 charged with Impaired Operation of a Conveyance by Alcohol
    • 12 charged with Impaired Operation of a Conveyance by Drug
    • 28 charged with Refusal of a Demand Made by a Peace Officer

    In addition to investigations that resulted in charges, a further 130 people were issued administrative driving suspensions for Operating a Conveyance While Having Consumed Alcohol.

    Failure or refusal to comply with a peace officer’s request to provide a sample for sobriety testing can result in criminal charges that have the same penalties as impaired driving. There are a range of fines and periods of driving prohibition for those convicted of driving under the influence of alcohol or drugs.

    Citizens are asked to call 911 immediately if they see a driver who’s driving erratically or unsafely. Here are some signs that an impaired driver might be behind the wheel:

    • Driving unreasonably fast, slow or at an inconsistent speed
    • Drifting in and out of lanes
    • Tailgating and changing lanes frequently
    • Making exceptionally wide turns
    • Changing lanes or passing without sufficient clearance
    • Overshooting or stopping well before stop signs or stop lights
    • Disregarding signals and lights
    • Approaching signals or leaving intersections too quickly or slowly
    • Driving without headlights, failing to lower high beams or leaving turn signals on

    The 911 dispatcher will ask for:

    • Your location
    • A description of the vehicle, including the licence plate number, colour, make and model
    • The direction of travel for the vehicle
    • A description of the driver if visible

    The Nova Scotia RCMP asks motorists to plan ahead and drive sober.

    MIL Security OSI –

    January 25, 2025

  • MIL-OSI Economics: grmcapitalspro.com: BaFin investigates the company GRMcapitalsPRO

    Source: Bundesanstalt für Finanzdienstleistungsaufsicht – In English

    The Federal Financial Supervisory Authority (BaFin) warns consumers about the company GRMcapitalsPRO and the services it is offering. BaFin has information that the company is offering banking business and/or financial services in Germany on its website grmcapitalspro.com without the required authorisation. The company is not supervised by BaFin.

    Financial services may only be offered in Germany if the company providing these services has the necessary authorisation from BaFin to do this. However, some companies offer these services without the necessary authorisation. Information on whether a particular company has been granted authorisation by BaFin can be found in BaFin’s database of companies.

    Theinformation provided by BaFin is based on section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG).

    Please be aware:

    BaFin, the German Federal Criminal Police Office (Bundeskriminalamt – BKA) and the German state criminal police offices (Landeskriminalämter) recommend that consumers seeking to invest money online should exercise the utmost caution and do the necessary research beforehand in order to identify fraud attempts at an early stage.

    MIL OSI Economics –

    January 25, 2025

  • MIL-OSI Global: Simple science summaries written by AI help people understand research and trust scientists

    Source: The Conversation – USA – By David Markowitz, Associate Professor of Communication, Michigan State University

    Smoothing out the complexity can help with comprehension. kislev/iStock via Getty Images Plus

    Artificial intelligence-generated summaries of scientific papers make complex information more understandable for the public compared with human-written summaries, according to my recent paper published in PNAS Nexus. AI-generated summaries not only improved public comprehension of science but also enhanced how people perceived scientists.

    I used a popular large language model, GPT-4 by OpenAI, to create simple summaries of scientific papers; this kind of text is often called a significance statement. The AI-generated summaries used simpler language – they were easier to read according to a readability index and used more common words, like “job” instead of “occupation” – than summaries written by the researchers who had done the work.

    In one experiment, I found that readers of the AI-generated statements had a better understanding of the science, and they provided more detailed, accurate summaries of the content than readers of the human-written statements.

    I also investigated what effects the simpler summaries might have on people’s perceptions of the scientists who performed the research. In this experiment, participants rated the scientists whose work was described in the simpler texts as more credible and trustworthy than the scientists whose work was described in the more complex texts.

    In both experiments, participants did not know who wrote each summary. The simpler texts were always AI-generated, and the complex texts were always human-generated. When I asked participants who they believed wrote each summary, they ironically thought the more complex ones were written by AI and simpler ones were written by humans.

    It can feel like you need a Ph.D. to understand science research published in a journal.
    R.Tsubin/Moment via Getty Images

    Why it matters

    Have you ever read about a scientific discovery and felt like it was written in a foreign language? If you’re like most Americans, new scientific information is probably hard to understand – especially if you try to tackle a science article in a research journal.

    In an era where scientific literacy is crucial for informed decision-making, the abilities to communicate and grasp complex ideas are more important than ever. Trust in science has been declining for years, and one contributing factor may be the challenge of understanding scientific jargon.

    This research points to a potential solution: using AI to simplify science communication. By making scientific content more approachable, this work demonstrates that AI-generated summaries may help to restore trust in scientists and, in turn, encourage greater public engagement with scientific issues. The question of trust is particularly important, as people often rely on science in their daily lives, from eating habits to medical choices.

    What still isn’t known

    As AI continues to evolve, its role in science communication may expand, especially if using generative AI becomes more commonplace or sanctioned by journals. Indeed, the academic publishing field is still establishing norms regarding the use of AI. By simplifying scientific writing, AI could contribute to more engagement with complex issues.

    While the benefits of AI-generated science communication are perhaps clear, ethical considerations must also be considered. There is some risk that relying on AI to simplify scientific content may remove nuance, potentially leading to misunderstandings or oversimplifications. There’s always the chance of errors, too, if no one pays close attention.

    Additionally, transparency is critical. Readers should be informed when AI is used to generate summaries to avoid potential biases.

    Simple science descriptions are preferable to and more beneficial than complex ones, and AI tools can help. But scientists could also achieve the same goals by working harder to minimize jargon and communicate clearly – no AI necessary.

    David Markowitz 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. Simple science summaries written by AI help people understand research and trust scientists – https://theconversation.com/simple-science-summaries-written-by-ai-help-people-understand-research-and-trust-scientists-241105

    MIL OSI – Global Reports –

    January 25, 2025

  • MIL-OSI Global: Fighting antibiotic resistance at the source – using machine learning to identify bacterial resistance genes and the drugs to block them

    Source: The Conversation – USA – By Abdullahi Tunde Aborode, Mississippi State University

    Current methods of identifying resistance mutations in microbes can miss other ways resistance can develop. koto_feja/iStock via Getty Images Plus

    Antibiotic resistance is a growing public health problem around the world. When bacteria like E. coli no longer respond to antibiotics, infections become harder to treat.

    To develop new antibiotics, researchers typically identify the genes that make bacteria resistant. Through laboratory experiments, they observe how bacteria respond to different antibiotics and look for mutations in the genetic makeup of resistant strains that allow them to survive.

    While effective, this method can be time-consuming and may not always capture the full picture of how bacteria become resistant. For example, changes in how genes work that don’t involve mutations can still influence resistance. Bacteria can also exchange resistance genes between each other, which may not be detected if only focusing on mutations within a single strain.

    My colleagues and I developed a new approach to identify E. coli resistance genes by computer modeling, allowing us to design new compounds that can block these genes and make existing treatments more effective.

    Identifying resistance

    To predict which genes contribute to resistance, we analyzed the genomes of various E. coli strains to identify genetic patterns and markers associated with resistance. We then used machine learning algorithms trained on existing data to highlight novel genes or mutations shared across resistant strains that might contribute to resistance.

    E. coli is one of many bacterial species developing resistance to common antibiotics.
    National Institute of Allergy and Infectious Diseases/National Institutes of Health via Flickr, CC BY-NC

    After identifying resistance genes, we designed inhibitors that specifically target and block the proteins these genes produce. By analyzing the structure of the proteins these genes code for, we were able to optimize our inhibitors to strongly bind to these specific proteins.

    To reduce the likelihood that bacteria would evolve resistance to these inhibitors, we targeted regions of their genome that code for proteins critical to their survival. By interfering with how bacteria carry out important functions, it makes it more difficult for them to develop mechanisms to compensate. We also prioritized compounds that work differently from existing antibiotics to minimize cross-resistance.

    Finally, we tested how effectively our inhibitors could overcome antibiotic resistance in E. coli. We used computer simulations to assess how strongly a number of inhibitors bind to target proteins over time. One inhibitor called hesperidin was able to strongly bind to the three genes in E. coli involved in resistance that we identified, suggesting it may be able to help combat antibiotic-resistant strains.

    A global threat

    The World Health Organization ranks antimicrobial resistance as one of the top 10 threats to global health. In 2019, bacterial antibiotic resistance killed an estimated 4.95 million people worldwide.

    By targeting the specific genes responsible for resistance to existing drugs, our approach could lead to treatments for challenging bacterial infections that are not only more effective but also less likely to contribute to further resistance. It can also help researchers keep up with bacterial threats as they evolve.

    Some microbes can transfer resistance to other microbes.

    Our predictive approach could be adapted to other bacterial strains, allowing for more personalized treatment strategies. In the future, doctors could potentially tailor antibiotic treatments based on the specific genetic makeup of the bacteria causing the infection, potentially leading to better outcomes.

    As antibiotic resistance continues to rise globally, our findings may provide a crucial tool in the fight against this threat. Further development is needed before our methods can be used in the clinic. But by staying ahead of bacterial evolution, targeted inhibitors could help preserve the efficacy of existing antibiotics and reduce the spread of resistant strains.

    Nothing to disclose.

    – ref. Fighting antibiotic resistance at the source – using machine learning to identify bacterial resistance genes and the drugs to block them – https://theconversation.com/fighting-antibiotic-resistance-at-the-source-using-machine-learning-to-identify-bacterial-resistance-genes-and-the-drugs-to-block-them-237919

    MIL OSI – Global Reports –

    January 25, 2025

  • MIL-OSI China: Chinese organization expresses ‘great regret’ after EU’s Chinese EVs tariff ruling

    Source: China State Council Information Office

    The China Chamber of Commerce for Import and Export of Machinery and Electronic Products on Wednesday expressed “great regret” on behalf of the Chinese automotive industry at the European Commission’s decision to impose anti-subsidy tariffs on electric vehicles originating in China. 

    MIL OSI China News –

    January 25, 2025

  • MIL-OSI China: Direct all-cargo air route links China’s Hubei, Hong Kong

    Source: China State Council Information Office

    A direct all-cargo air route between Hubei Province in central China and Hong Kong Special Administrative Region was launched on Wednesday, according to SF Airlines.

    On Wednesday morning, a Boeing 737-400 freighter took off from the Ezhou Huahu International Airport in Hubei, China’s first cargo-focused airport. It is also the airport’s first all-cargo route to Hong Kong, said the cargo airline.

    Three round-trip flights are scheduled to shuttle on this route every week, providing about 100 tonnes of air transport capacity weekly.

    This direct air route will provide air express capacity to this year’s Double Eleven online shopping festival, also known as the Singles’ Day shopping festival and a Chinese version of Black Friday.

    It will help facilitate transportation of e-commerce express and enhance consumption experience for customers, said SF Airlines.

    Headquartered in Shenzhen, SF Airlines is China’s largest air cargo carrier in fleet size. To date, it has cultivated an international route network from Ezhou Huahu International Airport to totalling more than 60 destinations at home and abroad, said the cargo carrier.

    MIL OSI China News –

    January 25, 2025

  • MIL-OSI China: China’s first ‘smart factory’ for offshore oil, gas equipment fully operational

    Source: China State Council Information Office

    China’s first intelligent manufacturing base for offshore oil and gas equipment was put into full operation on Wednesday in north China’s Tianjin Municipality.

    Covering an area of about 575,000 square meters, this base built along the coast of the Bohai Sea focuses on producing offshore oil and gas platforms and high-end offshore products such as liquefied natural gas modules, according to its constructor China Offshore Oil Engineering Company (COOEC), a subsidiary of the China National Offshore Oil Corporation.

    The base consists of four intelligent production workshops, eight production auxiliary centers, 16 final assembly stations and core facilities such as docks facilitating product transportation via large ships. There are also over 600 intelligent production machines at this base.

    Compared to the traditional manufacturing process, a series of operations such as material retrieval, pipe coiling, cutting and hydraulic bending can be achieved via a single click through an intelligent manufacturing management platform available at the Tianjin facility.

    According to Wang Lei, one of the senior executives of the Tianjin branch of COOEC, there are a variety of offshore oil and gas equipments, and in the past, producing them featured complicated manufacturing processes, and customized and non-standard requirements.

    As a result, COOEC opted to develop an intelligent manufacturing management platform to achieve intelligent production under complex conditions, said Wang. “More manufacturing processes are now achieved through the use of equipment, while only a small number of workers are needed to undertake detail adjustment tasks.”

    The base was constructed in two phases. The first phase of the project was put into use in June 2022, and delivered 35 offshore oil and gas platforms to countries such as China and Canada, with total weight exceeding 87,000 tonnes.

    In the second construction phase of this project, eight final assembly stations and an intelligent pipe production line were added, while the capacity of docks was increased.

    “Production efficiency achieved by the intelligent pipe production line has increased by about 20 percent when compared to what was possible in the first phase, and the overall production capacity of the factory has doubled through digital intelligent manufacturing and precise management,” Wang revealed.

    In 2023, China’s offshore crude oil production had exceeded 62 million tonnes, a year-on-year increase of 3.4 million tonnes — accounting for about 70 percent of China’s total crude oil production increase last year. 

    MIL OSI China News –

    January 25, 2025

  • MIL-OSI China: Collapse of gold mine in Afghanistan leaves 3 dead

    Source: China State Council Information Office

    At least three miners were killed following the collapse of a gold mine in northern Afghanistan’s Badakhshan province, the provincial police office has said.

    The accident occurred in the mountainous area of the province’s Arghanchkhwa district. The bodies of the victims were recovered by local residents and a rescue team.

    Badakhshan is a remote and mountainous province of Afghanistan, home to numerous untouched mines, especially gold and lapis lazuli mines, some of which are extracted with no modern facilities or equipment. 

    MIL OSI China News –

    January 25, 2025

  • MIL-OSI China: US candidates neck-and-neck a week before elections

    Source: China State Council Information Office

    The race for the White House is neck and neck just a week before Americans cast their ballots for the next president.

    Republican candidate Donald Trump leads Democratic candidate Kamala Harris by an average of 0.4 percentage points in national polls as of Tuesday, according to the U.S. election information website Real Clear Politics.

    Trump leads by just a hair in many swing states, including Georgia, Arizona, Pennsylvania, Wisconsin and North Carolina, while Harris leads by half a point in Michigan.

    The swing states are likely to determine the election outcome, and both candidates have been actively campaigning there, attending rallies to present their case to voters.

    “The presidential race remains tight, but Harris has been outspending Trump by a 2 or 3 to 1 margin in advertising,” Brookings Institution Senior Fellow Darrell West told Xinhua.

    Inflation and the economy are among the main issues. While President Joe Biden and Vice President Harris have overseen an economy with low unemployment, many voters are outraged over the high prices that have taken hold during the current administration.

    Besides, Trump’s campaign has been accusing the Biden-Harris administration of leading to a major increase in crime in urban areas.

    Stores are now locking up their merchandise, as shoplifters brazenly fill up garbage bags full of goods and simply walk out of the store without paying. Drug addicts shoot up heroin and other hard drugs in broad daylight in many cities. They harass and physically assault passersby, and urinate and defecate on sidewalks in downtown areas.

    At the same time, Trump has ruffled several feathers, as he is known to do, with what critics call incendiary rhetoric.

    Critics also blasted Trump for his plan to launch the mass deportation operation of millions of immigrants who illegally poured over the border since the current administration took office. Trump’s critics fear this could lead to problems including breaking up families and giving law enforcement too much power.

    It remains unknown what undecided voters will do.

    “Many undecided voters will not vote at all,” Clay Ramsay, a researcher at the Center for International and Security Studies at the University of Maryland, told Xinhua, adding that the people who are unlikely to vote, based on past elections, accounts for a large percentage of adults. 

    MIL OSI China News –

    January 25, 2025

  • MIL-OSI China: Russia says U.S. actions against Russian reporters violate freedom of information

    Source: China State Council Information Office

    Washington’s recent actions against Russian journalists violate the right to access information and media pluralism, Russian Foreign Ministry spokesperson Maria Zakharova said Wednesday.

    A film crew from Russia’s Izvestia newspaper, who arrived in Washington to cover the upcoming presidential election, was detained and subjected to hours of interrogation on Tuesday night, resulting in one member being expelled from the country, the Foreign Ministry said in a statement.

    Zakharova noted that the Russian journalists had notified U.S. authorities of their intentions and received permission before their arrival, adding that this reflects the United States’ readiness to use repressive measures against inconvenient information.

    “The arbitrariness of the American authorities will not remain without a proper reaction on our part,” Zakharova said. 

    MIL OSI China News –

    January 25, 2025

  • MIL-OSI China: Iraq announces final results of Kurdistan’s parliamentary elections

    Source: China State Council Information Office

    The Iraqi Independent High Electoral Commission (IHEC) announced Wednesday the final results of the parliamentary elections of Iraq’s semi-autonomous Kurdistan region, with the Kurdistan Democratic Party (KDP) leading with 39 seats.

    IHEC’s Chairman Judge Omar Ahmed said at a press conference that the final results showed that the KDP led with 39 seats in the regional 100-seat parliament, while the Patriotic Union of Kurdistan followed with 23 seats and the New Generation Movement with 15 seats.

    Ahmed said that the political parties have the right to appeal the results within three days.

    Iraq’s Kurdistan regional parliamentary elections kicked off on October 20 to elect 100 lawmakers out of 1,091 candidates.

    The elections were originally scheduled for 2022 but have been continuously delayed due to political differences. 

    MIL OSI China News –

    January 25, 2025

  • MIL-OSI China: Former Malaysian PM ordered to enter defense in 1MDB case

    Source: China State Council Information Office

    Former Malaysian Prime Minister Najib Razak has been ordered to enter his defense against 25 charges of abuse of power and money laundering involving state investment fund 1Malaysia Development Berhad (1MDB) on Wednesday.

    The High Court has called on Najib to enter his defense on four charges of power abuse and 21 charges of money laundering involving 2.28 billion ringgit (520 million U.S. dollars) after Justice Collin Lawrence Sequerah said it had conducted a maximum evaluation and found the prosecution had proven prima facie in its case against the former prime minister.

    The 1MDB trial now has 97 hearing dates scheduled from Dec. 2 this year until November 2025, with trial dates for every month during this period except for July next year.

    Najib, 71, has been serving a sentence since Aug. 23, 2022, after being convicted in a separate criminal trial over misappropriating 42 million ringgit from SRC International Sdn Bhd, a former unit of 1MDB.

    Following his conviction, he successfully filed a petition for a royal pardon, which resulted in a reduction of his 12-year imprisonment to six years and a fine cut from 210 million ringgit to 50 million ringgit in February. (1 ringgit equals 0.23 U.S. dollar) 

    MIL OSI China News –

    January 25, 2025

  • MIL-OSI Security: Defense News: Strengthening Alliances Through Learning, NPS Hosts European International Alumni Symposium

    Source: United States Navy

    The symposium, sponsored in part by the Department of State as part of the U.S. International Military Education Training (IMET) program, is in direct support of the Secretary of the Navy Carlos Del Toro’s strategic priorities to strengthen international alliances for collective defense. It also supports the “Enhance Partnerships” objective in the Naval Education Strategy by offering opportunities to learn alongside our allies and partners, which is a key component to succeeding in deterring conflict and the strategic power competition.

    “In so many ways, [educational institutions] are the engines of what happens in the future,” said Adm. Stuart Munsch, commander of U.S. Naval Forces Europe-Africa and commander of Allied Joint Force Command Naples, during his welcoming remarks. “They not only equip individuals with the skill sets to think about particular knowledge areas but, more broadly, to think critically and strategically. These institutions are what provide this foundation for our future, and the Naval Postgraduate School is among them.”

    Building on the Indo-Pacific NPS Alumni Symposium held last year, the European symposium agenda spanned a full three days, packed with plenary sessions, panels, and keynote addresses, which included discussions ranging from energy security and space systems to contested logistics and climate change. NPS faculty presented and discussed cutting-edge research in emerging defense technologies, furthering academic collaboration, shared learning, and strategic engagement with international partners.

    Beyond the formal sessions and professional exchange, the symposium also provided an opportunity to advance important relationships, maritime statecraft, and reconnect NPS with its global community of alumni.

    “These relationships matter and continuing to cultivate them matters because our alumni network is a vital resource,” said U.S. Army Gen. Christopher Cavoli, Supreme Allied Commander and Commander, U.S. European Command. “It provides us with an unparalleled opportunity to share knowledge, exchange ideas, and foster innovation all around the globe.”

    In addition to robust discussions on security and defense, participants valued the chance to reconnect with former classmates, professors, and new colleagues from across Europe.

    “NPS helped us reach a deeper understanding of where we’re going together. In terms of cooperative security and collective defense right now, NPS is very well represented in key positions in NATO, not only in the operational side of the house but also in the future planning,” said Maj. Gen. Claudiu Dobocan, commander, Romanian Special Operations Command and a 2004 NPS Defense Analysis graduate. “NPS is on the forefront for relation building but also on the front of conceptual theories which will push forward NATO and U.S. instruments.”

    Among the many discussions held during the event, one key session focused on climate and energy security in Europe, featuring panelist Kristen Fletcher of NPS’ Energy Academic Group who highlighted important ongoing research in the field. Symposium attendees and NPS faculty visited the Schneefernerhaus Environmental Research Station, Germany’s highest environmental research facility, where they learned about the facility’s history and ongoing climate research, which furthered the discussion.

    “This symposium has given us the chance to share global perspectives on climate security,” Fletcher said. “The research shared with us today on increasing greenhouse gas emissions, along with physical observations of a nearly depleted glacier, highlights the need for awareness and partnerships to understand the impacts of climate change on military missions.”

    As the symposium concluded, participants expressed gratitude for the opportunity to reunite with old colleagues, meet new ones, and discuss shared challenges and opportunities for collaboration.

    NPS attracts students from around the globe, advancing their skills while also supporting the development of enduring personal connections. International alumni symposiums focus on strengthening those relationships while addressing present-day challenges, reaffirming the collective dedication to global security.

    “NPS gives us the opportunity to connect people from different countries, different cultures, building trust and the feeling that we are stronger together,” said 2024 Security Studies graduate Tea Nikolashvili, director, Defense Institution Building School, Ministry of Defense, Georgia. “Symposiums like this are an additional opportunity for us to communicate with our peers and widen our perspectives as well as build professional networks, supporting both national and international security objectives and implementation processes.”

    The event was organized by NPS’ International Graduate Programs Office (IGPO) with additional support from the NPS Foundation and Alumni Association. More than 7,000 students from nearly 130 countries have graduated from NPS since 1954. 

    “None of us are as strong as all of us,” said Danial Pick, director of IGPO. “Allied countries send their best to NPS, and they contribute so much to our learning beyond their coursework and research to enhance our culture and strengthen future alliances, which are so important today.” 

    Through the institution’s unique, defense-focused graduate education and research programs and a student body reaching all corners of the globe, NPS continues to drive knowledge and relevant innovation to enhance the strategic capabilities of the United States as well as its international partners. 

    “It was a privilege to collaborate with senior military representatives and NPS alumni from around the globe to discuss and execute the importance of strategic engagement among international partners,” said NPS President retired Vice. Adm. Ann Rondeau. “I want to express my sincere thanks to everyone who worked diligently to ensure the symposium was a success, especially to the George C. Marshall European Center for Security Studies and Director retired U.S. Air Force Maj. Gen. Barre R. Seguin for graciously co-hosting our first NPS European International Alumni Symposium – it was a great team effort!” 

    NPS, located in Monterey, California, provides defense-focused graduate education, including classified studies and interdisciplinary research, to advance the operational effectiveness, technological leadership, and warfighting advantage of the Naval service. Established in 1909, NPS offers master’s and doctorate programs to Department of Defense military and civilians, along with international partners, to deliver transformative solutions and innovative leaders through advanced education and research. For more information, visit NPS at https://nps.edu.

    Check out highlights and hear from symposium attendees in this recap of NPS’ first-ever European International Alumni Symposium, https://youtu.be/KSJq5QHAoC8. 

    MIL Security OSI –

    January 25, 2025

  • MIL-OSI United Kingdom: Professor Sir Munir Pirmohamed appointed chair of CHM for another four years as three commissioners reappointed

    Source: United Kingdom – Executive Government & Departments

    The appointment will involve a time commitment of 33 days per year. Remuneration for the role will be at a rate of £500 per attendance and preparation for meetings.

    Professor Sir Munir Pirmohamed has been appointed chair of the Commission on Human Medicines (CHM) for another four years, from 12 February, 2025.

    The CHM is an advisory non-departmental public body which is sponsored by the Department of Health and Social Care (DHSC).

    The CHM advises ministers on the safety, efficacy and quality of medicines.

    Three commissioners have been reappointed:

    • Professor Marc Turner and Professor Christopher Weir have been reappointed to for a further four years from 5 July, 2024.

    • Professor Poulam Patel has been reappointed for a further two years from 5 July 2024. 

    The appointments will involve a time commitment of approximately 22 days per year, including 11 meetings. Remuneration for the roles will be at a rate of £325 per meeting.

    All appointments are made in accordance with the Cabinet Office Code of Governance for Public Appointments.

    The regulation of public appointments against the requirements of this code is carried out by the Commissioner for Public Appointments.

    The appointments are made on merit and political activity played no part in the decision process. However, in accordance with the code, there is a requirement for appointees’ political activity (if any declared) to be made public.

    None of the appointees have declared any political activity.

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    Published 30 October 2024

    MIL OSI United Kingdom –

    January 25, 2025

  • MIL-OSI Russia: Survey “Socio-psychological well-being”

    Translation. Region: Russian Federation –

    Source: Saint Petersburg State University of Architecture and Civil Engineering – Saint Petersburg State University of Architecture and Civil Engineering –

    The research and communication platform “Caring Person” is conducting a sociological survey “Socio-psychological well-being” from October 25 to November 17.

    Students, teachers, and administrators of higher education institutions can share their feelings about their university and what areas need to be changed. Students can also assess their employment prospects after graduation.

    Your opinion is important and directly influences the future development of the university!

    Link to the survey

    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 –

    January 25, 2025

  • MIL-OSI China: UN human rights council to open office in Bangladesh

    Source: China State Council Information Office 3

    The United Nations Human Rights Council (UNHRC) has decided to set up an office in Bangladesh’s capital Dhaka to strengthen its activities in the South Asian country.

    Bangladeshi interim government’s Social Welfare Advisor Sharmeen S. Murshid said following a meeting with U.N. High Commissioner for Human Rights Volker Turk in Dhaka Tuesday.

    “It is a very important decision. The interim government agreed over establishment of the U.N. human rights office in Dhaka,” the advisor said.

    She said that the office’s presence here will strengthen the country’s position on human rights. 

    MIL OSI China News –

    January 25, 2025

  • MIL-OSI China: 51 killed by flash floods in eastern Spain: report

    Source: China State Council Information Office 3

    At least 51 people have died in flash floods in the Spanish province of Valencia as torrential rains continue to ravage the country’s eastern and southern coasts, state broadcaster TVE reported on Wednesday.

    Since the authorities declared a red alert for torrential rains on Tuesday, several people have been missing in heavy flooding that has swept away vehicles and disrupted rail services.

    Six people were reported missing in the town of Letur, close to Valencia in Albacete. In Valencia, two Civil Guard police officers and a truck driver are still being searched for.

    The Spanish government set up a crisis committee on Wednesday to assess the damage caused as rescuers continue to search for victims.

    At the opening of the Spanish Congress on Wednesday morning, Francina Armengol, the parliament speaker, called for a minute’s silence for the victims. 

    MIL OSI China News –

    January 25, 2025

  • MIL-OSI China: Endless U.S. plotting pushes Panama to seek more global cooperation, says expert

    Source: China State Council Information Office 3

    Decades of the U.S. plotting to make profits at the price of Panama’s interests has pushed the Central American country to seek more global cooperation, a Panama-based international relations expert has said.

    Julio Yao, former foreign policy advisor to the late Panamanian leader General Omar Torrijos, recalled the history of nonstop U.S. intervention in Panama since the turn of the 20th century in a recent interview with Xinhua.

    Panama gained its independence from Spain in 1821 and from Colombia in 1903, though the latter was in essence “a deception” devised by the United States to gain control of the strategic Panama Canal, Yao said.

    “From that moment on, the United States took over the so-called Canal Zone,” starting a long string of unfortunate events for Panama, he said.

    On top of the list was the attempt to establish the failed Kellogg-Alfaro treaty in the 1920s, which was rejected because it aimed to legalize the presence of U.S. troops on Panamanian soil.

    “That treaty completely turned Panama into a U.S. military base, that is, a military springboard for the rest of Latin America,” the expert said.

    Nevertheless, unilateral interventions by the United States persisted in Panama, he said.

    For much of the 1970s, the U.S. government was “permanently” pressuring Panama to grant it protection and defense rights over the canal in perpetuity, Yao recalled.

    At the time, the career diplomat was advising Torrijos and then Foreign Minister Juan Antonio Tack in drafting treaties, such as the 1974 Tack-Kissinger Declaration, which made a point of setting a deadline on the U.S. occupation of the canal.

    “Why did we have to emphasize the fixed deadline? Because the Americans always deceived Panama with a later date and never left Panama,” Yao said.

    In September 1977, the Torrijos-Carter Treaties were signed by Torrijos and then U.S. President Jimmy Carter, establishing that the Panama Canal would be turned over to Panamanian control on Dec. 31, 1999.

    Prior to that, the U.S. “obsession” with controlling the Panama Canal occasionally turned “explosive,” Yao said.

    On Dec. 20, 1989, a date now known as the Day of National Mourning, U.S. troops invaded Panama to capture Panamanian General Manuel Noriega, later convicting him of drug trafficking and money laundering.

    To break with the past, Yao said he believes that Panama should look to more “humanist,” multilateral mechanisms such as BRICS.

    Such mechanisms have created a counterweight to hegemonic power in several aspects, said the expert.

    “The United States is really in a very ruinous position,” Yao said, noting that at such a juncture, concepts such as the Global South are relevant today since they shelve religious or political differences in favor of promoting joint development.

    The Global South is “a good concept” because it addresses many similar situations in Africa, Latin America and even the Middle East, Yao said.

    People want to emerge from underdevelopment or the lack of development, and to that end, BRICS countries have taken “the right path” towards global development, through measures that go beyond resolving local or regional issues, he said.

    “I firmly believe in BRICS and I believe very firmly in the Global South,” Yao said.

    “If you look at the new foreign policy of some African countries, they are on the right track. That is a great awakening for a region that has been very impoverished, very dominated, very interfered with, very manipulated, so I think there is reason to feel optimistic,” he said.

    MIL OSI China News –

    January 25, 2025

  • MIL-OSI China: ADB approves $500M loan for Pakistan to support climate resilience

    Source: China State Council Information Office 3

    The Asian Development Bank (ADB) said Tuesday it has approved 500 million U.S. dollars in policy-based loan to support climate and disaster resilience efforts in Pakistan, said a statement.

    The bank’s Pakistan office said that the Climate and Disaster Resilience Enhancement Program will strengthen Pakistan’s institutional capacity for planning, preparedness, and response.

    According to the bank, the program will increase inclusive investment in disaster risk reduction and climate resilience and support the scale-up of disaster risk financing using a risk-layered approach.

    The ADB added that Pakistan ranks among the most vulnerable countries to climate change and disasters, with average losses from disaster events exceeding 2 billion U.S. dollars annually.

    “This program builds on the ADB’s long-standing work in Pakistan to understand and reduce climate and disaster risks and support effective disaster response,” said ADB Director General for Central and West Asia Yevgeniy Zhukov.

    The bank added that the program aims to strengthen disaster resilience in Pakistan by advancing disaster risk mapping and modeling to guide development and investment decisions.

    The program would further support a solidarity fund to promote risk transfer solutions, including agricultural insurance, and will implement shock-responsive social protections to provide cash assistance to those affected by future disasters, added the bank.

    MIL OSI China News –

    January 25, 2025

  • MIL-OSI China: Nearly half of voters question American democracy: survey

    Source: China State Council Information Office 3

    Nearly half of U.S. voters doubt the government’s ability to serve the common good, with 45 percent saying it fails to represent them, according to a survey released by The New York Times on Sunday.

    The survey, conducted nationwide from Oct. 20 to 23 among 2,516 likely voters, found that 62 percent believe the government primarily serves its own interests and elites.

    Such frustrations, compounded by economic challenges, partisan divides, and unresolved social issues, have weakened confidence in the nearly 250-year-old democratic system, said the report.

    The survey also highlighted a stark partisan divide, with 60 percent of voters blaming former President Donald Trump for worsening it, while 37 percent pointed to Vice President Kamala Harris.

    “It’s not just Democrat or Republican, it’s the Washington elite,” retired farmer Randal Parr was quoted as saying in the report. “The Washington elite control everything, and the will of the people has been ignored.”

    Some voters expressed frustration over government inaction on pressing issues. “It’s always a school shooting,” said temporary worker Sarah Washington. “Nothing still being done about it. They talk about it, and then another one happens.”

    Roughly one-third of respondents worry that America’s problems are so severe that it could fail as a nation, while 58 percent say the nation’s financial and political systems require significant reforms or a complete overhaul, the survey showed. 

    MIL OSI China News –

    January 25, 2025

  • MIL-OSI: AI Company Brand Engagement Network Announces Agreement to Acquire German Media Technology Leader Cataneo Gmbh

    Source: GlobeNewswire (MIL-OSI)

    JACKSON, Wyo., Oct. 30, 2024 (GLOBE NEWSWIRE) — Brand Engagement Network, Inc.(BEN) (NASDAQ: BNAI), a global leader in secure and reliable conversational AI solutions for businesses and consumers, today announced it has agreed to acquire 100% of Cataneo Gmbh (Cataneo), a privately-owned media technology company based in Munich, Germany, in a cash and stock transaction.

    Cataneo, a leader in media technology, offers an all-in-one solution for ad sales, inventory management, and campaign optimization. The company has been profitable throughout the years, with its platform helping broadcast and entertainment companies streamline operations, increase revenue, and enhance audience engagement. By integrating BEN’s advanced Generative AI, Cataneo is poised to strengthen its offerings and deliver even greater value to its brands and customers.

    Cataneo’s Mydas platform is a rapidly growing, highly sophisticated air-time sales management and ad traffic system managing over 5 billion euros in annual media spending. Supporting over 5,000 users and more than 1,000 media brands across four continents, the Mydas platform operates on a robust recurring revenue model. It offers a fully integrated, 100% SaaS cloud solution consolidating all advertising inventories into a common currency on a single platform.

    Combined Synergies Enhance Conversational Gen-AI for Global Media Brands

    “We believe the combination of BEN’s safe, intelligent, and scalable Generative AI platform, with Cataneo’s Mydas tools, can transformhow brands engage with their customers,” said Paul Chang, Chief Executive Officer of BEN. “This acquisition marks a significant step towards the future of interactive advertising, where consumers are not just marketed to, but actively engaged with, leading to more meaningful and enhanced online experiences.”

    Cataneo’s Chief Executive Officer, Renato Rocha Pinto, expressed his excitement about the partnership. He stated, “We believe combining our technologies will significantly enhance consumer engagement and substantially benefit our global clients. BEN’s AI has the capability to generate deep insights and explore innovative consumer engagement opportunities across various media outlets, extending beyond traditional platforms.”

    The acquisition underscores BEN’s commitment to strategic growth through mergers and acquisitions, enabling BEN to expand the reach of its core AI platform to over 1,000 media brands. This positions BEN to lead the next generation of conversational Gen-AI engagement, providing consumers with real-time, accurate, and helpful information across various channels, including while on the move and driving.

    While Cataneo will continue to serve its existing clients independently, the company plans to collaborate closely with BEN to integrate AI into its internal processes and provide enhanced customer tools. The combined strength of BEN’s Generative AI and Cataneo’s platform is expected to expand Cataneo’s global presence significantly.

    Transaction Details
    The total purchase price for the acquisition is $19.5 million, comprised of $9.0 million in cash and 4.2 million shares of BEN common stock at an agreed-upon value of $2.50 per share. Depending on certain conditions before closing, a portion of the shares may be converted into the right to receive up to $3.0 million in cash.   Upon closing, Cataneo will become a wholly owned subsidiary of BEN, with plans to expand operations in the U.S. and Latin America. This acquisition positions both companies for significant growth in the broadcast and agency premium advertising workflow management solutions market, a $2.0 billion segment within the broader $45 billion global media technology market. Renato Rocha Pinto will continue as Cataneo’s Chief Executive Officer after the acquisition.

    The transaction is subject to securing financing on mutually agreeable terms and obtaining customary regulatory approvals and guarantees by certain BEN shareholders. It is expected to close in the fourth quarter of 2024.

    For more information about BEN’s safe, intelligent, scalable AI, please visit  www.beninc.ai. For details about Cataneo, please visit www.cataneo.tv.

    About BEN
    Brand Engagement Network is a global leader providing secure and reliable conversational AI solutions for businesses and consumers. With offices in Jackson, Wyoming, and Seoul, South Korea, BEN offers a powerful and flexible platform that enhances customer experiences, boosts productivity, and delivers business value. At the heart of BEN’s offerings are AI-powered digital assistants and lifelike avatars, providing more personal and engaging experiences through browsers, mobile applications, and even life-size kiosks. These safe, intelligent, and inherently scalable AI solutions empower businesses to efficiently serve customers using validated data delivered through SaaS, Private Cloud, and On-Premises technology. BEN’s commitment to data sovereignty ensures that consumer and business data remain private, protected, and wholly owned by the respective parties. BEN’s mission is to make AI friendly and helpful for all, ensuring more people benefit from the AI-enhanced world.

    About Cataneo
    Cataneo is a global provider of comprehensive media management solutions for linear, non-linear, and digital media, headquartered in Munich, Germany. Cataneo’s platform is highly customizable and scalable and offers end-to-end solutions for advertising sales, traffic management, and campaign optimization across multiple media channels. With over two decades of experience, Cataneo supports over 1,000 media brands across 200+ channels in 4 continents, providing cutting-edge tools for inventory management, yield optimization, and programmatic ad sales. The company’s flagship platform, MYDAS, empowers media businesses to optimize revenues and streamline operations with advanced data analytics, CRM integration, and real-time reporting. Cataneo’s mission is to bridge the gap between media buyers, sellers, and platforms, offering a unified ecosystem for seamless media transactions and enhanced audience engagement.

    Forward-Looking Statements
    Certain statements in this communication are “forward-looking statements” within the meaning of federal securities laws. They are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect, among other things, BEN’s current expectations, assumptions, plans, strategies, and anticipated results, including the closing and anticipated benefits of the acquisition of Cataneo (the “Cataneo Acquisition”). Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance.

    There are a number of risks, uncertainties and conditions that may cause BEN’s actual results to differ materially from those expressed or implied by these forward-looking statements, including but not limited to: (i) uncertainties as to the timing of the Cataneo Acquisition; (ii) the risk that the Cataneo Acquisition may not be completed on the anticipated terms in a timely manner or at all; (iii) the failure to satisfy any of the conditions to the consummation of the Cataneo Acquisition, including the ability to obtain financing to fund the Cataneo Acquisition on terms that are agreeable to the parties or at all; (iv) the possibility that any or all of the various conditions to the consummation of the Cataneo Acquisition may not be satisfied or waived, including the failure to receive any required regulatory approvals from any applicable governmental entities (or any conditions, limitations or restrictions placed on such approvals) or required major shareholder guarantees; (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the purchase agreement; (vi) the effect of the announcement or pendency of the transactions contemplated by the purchase agreement on BEN’s ability to retain and hire key personnel, its ability to maintain relationships with its customers, suppliers and others with whom it does business, or its operating results and business generally; (vii) risks related to diverting management’s attention from BEN’s ongoing business operations; (viii) uncertainty as to the timing of completion of the Cataneo Acquisition; (ix) risks that the benefits of the Cataneo Acquisition are not realized when and as expected; and (x) (A) the risk factors described in Part I, Item 1A of Risk Factors in BEN’s Annual Report on Form 10-K for the year ended December 31, 2023 and (B) the other risk factors identified from time to time in the BEN’s other filings with the Securities and Exchange Commission (the “SEC”). Filings with the SEC are available on the SEC’s website at http://www.sec.gov.

    Many of these circumstances are beyond BEN’s ability to control or predict. These forward-looking statements necessarily involve assumptions on BEN’s part. These forward-looking statements may include words such as “believe,” “expect,” “anticipate,” “estimate,” “intend,” “plan,” “project,” “should,” “may,” “will,” “might,” “could,” “would,” or similar expressions. All forward-looking statements attributable to the Company or persons acting on BEN’s behalf are expressly qualified in their entirety by the cautionary statements that appear throughout this communication. Furthermore, undue reliance should not be placed on forward-looking statements, which are based on the information currently available to the Company and speak only as of the date they are made. BEN disclaims any intention or obligation to update or revise publicly any forward-looking statements.

    Media Contact 
    Amy Rouyer
    BEN – Safe, Intelligent, Scalable AI
    E: amy@beninc.ai
    P: 503-367-7596

    Investor Relations
    Christine Marchuska
    E: ir@beninc.ai
    P: 917-232-0852

    Source: Brand Engagement Network, Inc. (BEN)

    The MIL Network –

    January 25, 2025

  • MIL-OSI: Red River Bancshares, Inc. Reports Third Quarter 2024 Financial Results

    Source: GlobeNewswire (MIL-OSI)

    ALEXANDRIA, La., Oct. 30, 2024 (GLOBE NEWSWIRE) — Red River Bancshares, Inc. (the “Company”) (Nasdaq: RRBI), the holding company for Red River Bank (the “Bank”), announced today its unaudited financial results for the third quarter of 2024.

    Net income for the third quarter of 2024 was $8.8 million, or $1.27 per diluted common share (“EPS”), an increase of $767,000, or 9.6%, compared to $8.0 million, or $1.16 EPS, for the second quarter of 2024, and an increase of $733,000, or 9.1%, compared to $8.0 million, or $1.12 EPS, for the third quarter of 2023. For the third quarter of 2024, the quarterly return on assets was 1.13%, and the quarterly return on equity was 11.11%.

    Net income for the nine months ended September 30, 2024, was $24.9 million, or $3.59 EPS, a decrease of $1.7 million, or 6.2%, compared to $26.6 million, or $3.70 EPS, for the nine months ended September 30, 2023. For the nine months ended September 30, 2024, the return on assets was 1.08%, and the return on equity was 10.86%.

    Third Quarter 2024 Performance and Operational Highlights

    In the third quarter of 2024, the Company reported higher earnings, an improved net interest margin, and fairly consistent loans and deposits. We deployed excess funds into the securities portfolio and completed a significant stock repurchase. In mid-September, the target range of the federal funds rate was reduced by 50 basis points (“bps”).

    • Net income for the third quarter of 2024 was $8.8 million compared to $8.0 million for the prior quarter. Net income for the third quarter benefited from higher net interest income and an improved net interest margin fully tax equivalent (“FTE”), along with higher noninterest income.
    • Net interest income and net interest margin FTE increased for the third quarter of 2024 compared to the prior quarter. Net interest income for the third quarter of 2024 was $22.5 million compared to $21.8 million for the prior quarter. Net interest margin FTE for the third quarter of 2024 was 2.98% compared to 2.92% for the prior quarter. These increases were due to improved yields on securities and loans outpacing higher deposit rates.
    • Noninterest income totaled $5.4 million for the third quarter of 2024, an increase of $321,000, or 6.3%, compared to $5.1 million for the previous quarter. Noninterest income benefited from the receipt of a $151,000 nonrecurring loan fee.
    • As of September 30, 2024, assets were $3.10 billion, which was $53.2 million, or 1.7%, higher than June 30, 2024. The increase was mainly due to a $30.5 million increase in deposits.
    • Deposits totaled $2.75 billion as of September 30, 2024, an increase of $30.5 million, or 1.1%, compared to $2.72 billion as of June 30, 2024. In the third quarter of 2024, customer deposit balances remained consistent, with normal activity.
    • As of September 30, 2024, loans held for investment (“HFI”) were $2.06 billion, slightly higher than $2.05 billion as of June 30, 2024. In the third quarter of 2024, we closed on a high level of loan commitments, which should fund over time.
    • As of September 30, 2024, total securities were $697.7 million, which was $31.1 million, or 4.7%, higher than June 30, 2024. In the third quarter of 2024, we redeployed cash flows from lower yielding securities into higher yielding securities, as well as deployed other liquid assets into the securities portfolio.
    • As of September 30, 2024, liquid assets, which are cash and cash equivalents, were $232.6 million, and the liquid assets to assets ratio was 7.50%. We do not have any borrowings, brokered deposits, or internet-sourced deposits.
    • In the third quarter of 2024, the provision for credit losses totaled $300,000. This included $200,000 for loans and $100,000 for unfunded loan commitments.
    • As of September 30, 2024, nonperforming assets (“NPA(s)”) were $3.1 million, or 0.10% of assets, and the allowance for credit losses (“ACL”) was $21.8 million, or 1.06% of loans HFI.
    • We paid a quarterly cash dividend of $0.09 per common share in the third quarter of 2024.
    • The 2024 stock repurchase program authorizes us to purchase up to $5.0 million of our outstanding shares of common stock from January 1, 2024 through December 31, 2024. In the third quarter of 2024, we entered into a privately negotiated stock repurchase agreement for the repurchase of 60,000 shares at an aggregate cost of $3.0 million. In connection with this repurchase, we reduced the availability under the 2024 repurchase program by $3.0 million. We also repurchased 233 shares at an aggregate cost of $11,000 from the open market. As of September 30, 2024, the 2024 stock repurchase program had $1.2 million remaining.
    • As of September 30, 2024, capital levels were strong with a stockholders’ equity to assets ratio of 10.46%, a leverage ratio of 11.90%, and a total risk-based capital ratio of 18.07%.
    • The book value per share of common stock was $47.51 as of September 30, 2024, compared to $44.58 as of June 30, 2024. This improvement was primarily due to the decrease in the accumulated other comprehensive loss related to securities and net income added to stockholders’ equity, partially offset by stock repurchases.

    Blake Chatelain, President and Chief Executive Officer, stated, “We are pleased with the financial results for the third quarter of 2024. We managed continued improvement to the net interest margin FTE, higher earnings, solid asset quality, steady loan activity, and continued strong liquidity and capital.

    “Throughout the majority of the third quarter, until the Federal Reserve reduced the federal funds rate, we continued to reprice assets at a quicker pace than liabilities, which benefited net interest margin FTE and net interest income. Loan demand continued to be steady in the third quarter, despite some companies possibly placing investment decisions on hold due to the pending presidential election. We did, however, close on a significant amount of construction loan commitments, which should fund over the next year.

    “On September 18, 2024, the Federal Reserve reduced the federal funds rate by 50 bps. This marks the conclusion of one of the most aggressive interest rate tightening cycles in many years. The rapid increase in interest rates has been challenging for banks and their customers. A lower interest rate environment should spur loan demand and mortgage loan activity, as well as help moderate accumulated other comprehensive loss in stockholders’ equity related to securities. Overall, the Louisiana economy seems to be faring well, and our customers’ balance sheets and earnings appear solid.

    “Our company is well-positioned for the future, with robust capital and liquidity levels combined with a great team of community bankers. As we gain more clarity regarding future interest rates and the presidential election concludes, we remain committed to providing steady financial results for the company.”

    Net Interest Income and Net Interest Margin FTE

    Net interest income and net interest margin FTE increased in the third quarter of 2024 compared to the prior quarter. These increases were due to improved yields on securities and loans outpacing higher deposit rates. After keeping the federal funds rate consistent since the third quarter of 2023, the Federal Open Market Committee (“FOMC”) decreased the federal funds rate by 50 bps in September of 2024.

    Net interest income for the third quarter of 2024 was $22.5 million, which was $670,000, or 3.1%, higher than the second quarter of 2024, due to a $1.2 million increase in interest and dividend income, partially offset by a $550,000 increase in interest expense. The increase in interest and dividend income was due to higher interest income on loans and securities. Loan income increased $1.0 million primarily due to higher rates on new and renewed loans compared to the existing portfolio. The average rate on new and renewed loans was 7.89% for the third quarter of 2024 and 7.98% for the prior quarter. Securities income increased $266,000 due to reinvesting lower yielding securities cash flows into higher yielding securities. The increase in interest expense was primarily due to higher rates on interest-bearing transaction deposits and time deposits.

    The net interest margin FTE increased six bps to 2.98% for the third quarter of 2024, compared to 2.92% for the prior quarter. This increase was due to improved yields on securities and loans, partially offset by higher deposit costs. The yield on securities increased 15 bps due to reinvesting lower yielding securities cash flows into higher yielding securities. The yield on loans increased 11 bps due to higher rates on new and renewed loans compared to the existing portfolio. The cost of deposits increased six bps to 1.81% for the third quarter of 2024, compared to 1.75% for the previous quarter, primarily due to a nine bp increase in the rate on interest-bearing deposits during the third quarter, partially offset by our adjustment to certain transaction deposit rates late in the third quarter.

    Late in the third quarter of 2024, the target range of the federal funds rate was reduced 50 bps to 4.75%-5.00%. At that time, we adjusted rates on transaction and time deposits, and we expect to continue lowering these rates in conjunction with future federal funds rate decreases. The market’s expectation is that the FOMC will continue lowering the target federal funds rate in the fourth quarter of 2024. During the twelve months ending September 30, 2025, we anticipate receiving approximately $134.0 million in securities cash flows with an average yield of 2.86%, and we project approximately $194.2 million of fixed rate loans will mature with an average yield of 5.95%. We expect to redeploy these balances into higher yielding assets. Additionally, during the twelve months ending September 30, 2025, we expect $558.5 million of time deposits to mature with an average rate of 4.47%, which we anticipate repricing into lower cost deposits. As of September 30, 2024, floating rate loans were 14.9% of loans HFI, and floating rate transaction deposits were 7.2% of interest-bearing transaction deposits. Depending on balance sheet activity and the movement in interest rates, we expect the net interest income and net interest margin FTE to improve slightly in the fourth quarter of 2024.

    Provision for Credit Losses

    The provision for credit losses for the third quarter of 2024 totaled $300,000, which included $200,000 for loans and $100,000 for unfunded loan commitments. The provision for credit losses in the second quarter was $300,000 for loans. The provision in the second and third quarters was due to potential economic challenges resulting from the recent inflationary environment, changing monetary policy, and loan growth. In the third quarter of 2024, we had an increase in unfunded loan commitments. We will continue to evaluate future provision needs in relation to current economic situations, loan growth, trends in asset quality, forecasted information, and other conditions influencing loss expectations.

    Noninterest Income

    Noninterest income totaled $5.4 million for the third quarter of 2024, an increase of $321,000, or 6.3%, compared to $5.1 million for the previous quarter. The increase was mainly due to a gain on equity securities and increases in service charges on deposit accounts, loan and deposit income, and brokerage income, partially offset by a decrease in Small Business Investment Company (“SBIC”) income.

    Equity securities are an investment in a Community Reinvestment Act (“CRA”) mutual fund consisting primarily of bonds. The gain or loss on equity securities is a fair value adjustment primarily driven by changes in the interest rate environment. Due to the fluctuations in market rates between quarters, equity securities had a gain of $107,000 in the third quarter of 2024, compared to a loss of $13,000 for the previous quarter.

    Service charges on deposit accounts totaled $1.5 million for the third quarter of 2024, an increase of $119,000, or 8.7%, compared to $1.4 million for the previous quarter. This increase was mainly due to a larger number of non-sufficient fund transactions and related fee income in the third quarter of 2024.

    Loan and deposit income totaled $588,000 for the third quarter of 2024, an increase of $96,000, or 19.5%, compared to $492,000 for the previous quarter. The third quarter of 2024 benefited from the receipt of a $151,000 nonrecurring loan fee.

    Brokerage income was $987,000 for the third quarter of 2024, an increase of $94,000, or 10.5%, compared to $893,000 for the previous quarter. The higher income in the third quarter of 2024 was mainly due to increased investing activity by clients. Assets under management were $1.13 billion as of September 30, 2024.

    SBIC income for the third quarter of 2024 was $301,000, a decrease of $153,000, or 33.7%, compared to $454,000 for the previous quarter. This decrease was primarily due to lower normal income received from these partnerships in the third quarter. We expect SBIC income to be slightly higher in the fourth quarter of 2024 when compared to the third quarter.

    Operating Expenses

    Operating expenses totaled $16.8 million for the third quarter of 2024, an increase of $63,000, or 0.4%, compared to $16.7 million for the previous quarter. This increase was mainly due to higher technology expenses and other tax expenses.

    Technology expenses totaled $865,000 for the third quarter of 2024, an increase of $141,000, or 19.5%, compared to $724,000 for the previous quarter. This increase was primarily due to continued upgrades to our core banking systems and other software technology enhancements.

    Other taxes totaled $622,000 for the third quarter of 2024, an increase of $122,000, or 24.4%, compared to $500,000 for the previous quarter. The second quarter benefited from the reversal of $145,000 of stock repurchase tax expense due to finalized guidelines.

    Asset Overview

    As of September 30, 2024, assets were $3.10 billion, compared to assets of $3.05 billion as of June 30, 2024, an increase of $53.2 million, or 1.7%. In the third quarter, assets were mainly impacted by a $30.5 million, or 1.1%, increase in deposits. In the third quarter of 2024, liquid assets increased $19.6 million, or 9.2%, to $232.6 million and averaged $224.0 million for the third quarter. As of September 30, 2024, we had sufficient liquid assets available and $1.69 billion accessible from other liquidity sources. The liquid assets to assets ratio was 7.50% as of September 30, 2024. Total securities increased $31.1 million, or 4.7%, to $697.7 million in the third quarter and were 22.5% of assets as of September 30, 2024. During the third quarter, loans HFI increased $8.2 million, or 0.4%, to $2.06 billion. The loans HFI to deposits ratio was 74.84% as of September 30, 2024, compared to 75.38% as of June 30, 2024.

    Securities

    Total securities as of September 30, 2024, were $697.7 million, an increase of $31.1 million, or 4.7%, from June 30, 2024. Securities increased primarily due to $52.9 million in purchases combined with a $14.9 million reduction in net unrealized loss on securities AFS. This was partially offset by maturities and principal repayments.

    The estimated fair value of securities available for sale (“AFS”) totaled $560.6 million, net of $49.5 million of unrealized loss, as of September 30, 2024, compared to $526.9 million, net of $64.4 million of unrealized loss, as of June 30, 2024. As of September 30, 2024, the amortized cost of securities held-to-maturity (“HTM”) totaled $134.1 million compared to $136.8 million as of June 30, 2024. As of September 30, 2024, securities HTM had an unrealized loss of $17.3 million compared to $22.8 million as of June 30, 2024.

    As of September 30, 2024, equity securities, which is an investment in a CRA mutual fund consisting primarily of bonds, totaled $3.0 million compared to $2.9 million as of June 30, 2024.

    Loans

    Loans HFI as of September 30, 2024, were $2.06 billion, slightly higher than $2.05 billion as of June 30, 2024. In the third quarter of 2024, we closed on a high level of loan commitments, which, depending on customer activity, should fund over time. Unfunded loan commitments that originated in the third quarter of 2024 totaled $76.4 million.

    Loans HFI by Category
      September 30, 2024   June 30, 2024   Change from
    June 30, 2024 to
    September 30, 2024
    (dollars in thousands) Amount   Percent   Amount   Percent   $ Change   % Change
    Real estate:                      
    Commercial real estate $ 875,590   42.6%     $ 865,645   42.3%     $ 9,945     1.1%  
    One-to-four family residential   616,467   30.0%       611,904   29.9%       4,563     0.7%  
    Construction and development   141,525   6.9%       129,197   6.3%       12,328     9.5%  
    Commercial and industrial   327,069   15.9%       344,071   16.8%       (17,002)     (4.9%)  
    Tax-exempt   66,436   3.2%       67,941   3.3%       (1,505)     (2.2%)  
    Consumer   28,961   1.4%       29,132   1.4%       (171)     (0.6%)  
    Total loans HFI $ 2,056,048   100.0%     $ 2,047,890   100.0%     $ 8,158     0.4%  

    Commercial real estate (“CRE”) loans are collateralized by owner occupied and non-owner occupied properties mainly in Louisiana. Non-owner occupied office loans were $57.2 million, or 2.8% of loans HFI, as of September 30, 2024, and are primarily centered in low-rise suburban areas. The average CRE loan size was $947,000 as of September 30, 2024.

    Health care loans are our largest industry concentration and are made up of a diversified portfolio of health care providers. As of September 30, 2024, total health care loans were 8.0% of loans HFI. Within the health care sector, loans to nursing and residential care facilities were 4.4% of loans HFI, and loans to physician and dental practices were 3.4% of loans HFI. The average health care loan size was $399,000 as of September 30, 2024.

    Asset Quality and Allowance for Credit Losses

    NPAs totaled $3.1 million as of September 30, 2024, a decrease of $103,000, or 3.2%, from June 30, 2024, primarily due to changes to nonaccrual loans. The ratio of NPAs to assets was 0.10% as of September 30, 2024, and 0.11% as of June 30, 2024.

    As of September 30, 2024, the ACL was $21.8 million. The ratio of ACL to loans HFI was 1.06% as of September 30, 2024 and June 30, 2024. The net charge-offs to average loans ratio was 0.00% for the third quarter of 2024 and 0.01% for the second quarter of 2024.

    Deposits

    As of September 30, 2024, deposits were $2.75 billion, an increase of $30.5 million, or 1.1%, compared to June 30, 2024. Average deposits for the third quarter of 2024 were $2.73 billion, a decrease of $5.6 million, or 0.2%, from the prior quarter. The following tables provide details on our deposit portfolio:

    Deposits by Account Type
      September 30, 2024   June 30, 2024   Change from
    June 30, 2024 to
    September 30, 2024
    (dollars in thousands) Balance   % of Total   Balance   % of Total   $ Change   % Change
    Noninterest-bearing demand deposits $ 882,394   32.1%     $ 892,942   32.9%     $ (10,548)     (1.2%)  
    Interest-bearing deposits:                      
    Interest-bearing demand deposits   163,787   6.0%       135,543   5.0%       28,244     20.8%  
    NOW accounts   379,566   13.8%       377,385   13.9%       2,181     0.6%  
    Money market accounts   551,229   20.0%       547,715   20.1%       3,514     0.6%  
    Savings accounts   166,723   6.1%       170,050   6.3%       (3,327)     (2.0%)  
    Time deposits less than or equal to $250,000   411,361   15.0%       399,981   14.7%       11,380     2.8%  
    Time deposits greater than $250,000   192,065   7.0%       193,030   7.1%       (965)     (0.5%)  
    Total interest-bearing deposits   1,864,731   67.9%       1,823,704   67.1%       41,027     2.2%  
    Total deposits $ 2,747,125   100.0%     $ 2,716,646   100.0%     $ 30,479     1.1%  
    Deposits by Customer Type
      September 30, 2024   June 30, 2024   Change from
    June 30, 2024 to
    September 30, 2024
    (dollars in thousands) Balance   % of Total   Balance   % of Total   $ Change   % Change
    Consumer $ 1,348,281   49.1%     $ 1,351,709   49.8%     $ (3,428)     (0.3%)  
    Commercial   1,191,625   43.4%       1,149,023   42.3%       42,602     3.7%  
    Public   207,219   7.5%       215,914   7.9%       (8,695)     (4.0%)  
    Total deposits $ 2,747,125   100.0%     $ 2,716,646   100.0%     $ 30,479     1.1%  
     

    In the third quarter of 2024, customer deposit balances remained consistent, with normal activity.

    The Bank has a granular, diverse deposit portfolio with customers in a variety of industries throughout Louisiana. As of September 30, 2024, the average deposit account size was approximately $27,000.

    As of September 30, 2024, our estimated uninsured deposits, which are the portion of deposit accounts that exceed the FDIC insurance limit (currently $250,000), were approximately $832.2 million, or 30.3% of total deposits. This amount was estimated based on the same methodologies and assumptions used for regulatory reporting purposes. Also, as of September 30, 2024, our estimated uninsured deposits, excluding collateralized public entity deposits, were approximately $674.8 million, or 24.6% of total deposits. Our cash and cash equivalents of $232.6 million, combined with our available borrowing capacity of $1.69 billion, equaled 231.3% of our estimated uninsured deposits and 285.2% of our estimated uninsured deposits, excluding collateralized public entity deposits.

    Stockholders’ Equity

    Total stockholders’ equity as of September 30, 2024, was $324.3 million compared to $307.0 million as of June 30, 2024. The $17.3 million, or 5.6%, increase in stockholders’ equity during the third quarter of 2024 was attributable to a $12.1 million, net of tax, market adjustment to accumulated other comprehensive loss related to securities, $8.8 million of net income, and $92,000 of stock compensation, partially offset by the repurchase of 60,233 shares of common stock for $3.0 million and $615,000 in cash dividends. We paid a quarterly cash dividend of $0.09 per share on September 19, 2024.

    Non-GAAP Disclosure

    Our accounting and reporting policies conform to United States generally accepted accounting principles (“GAAP”) and the prevailing practices in the banking industry. Certain financial measures used by management to evaluate our operating performance are discussed as supplemental non-GAAP performance measures. In accordance with the Securities and Exchange Commission’s (“SEC”) rules, we classify a financial measure as being a non-GAAP financial measure if that financial measure excludes or includes amounts, or is subject to adjustments that have the effect of excluding or including amounts, that are included or excluded, as the case may be, in the most directly comparable measure calculated and presented in accordance with GAAP as in effect from time to time in the U.S.

    Management and the board of directors review tangible book value per share, tangible common equity to tangible assets, and realized book value per share as part of managing operating performance. However, these non-GAAP financial measures should not be considered in isolation or as a substitute for the most directly comparable or other financial measures calculated in accordance with GAAP. Moreover, the manner in which we calculate the non-GAAP financial measures that are discussed may differ from that of other companies’ reporting measures with similar names. It is important to understand how such other banking organizations calculate and name their financial measures similar to the non-GAAP financial measures discussed by us when comparing such non-GAAP financial measures.

    A reconciliation of non-GAAP financial measures to the comparable GAAP financial measures is included within the following financial statement tables.

    About Red River Bancshares, Inc.

    Red River Bancshares, Inc. is the bank holding company for Red River Bank, a Louisiana state-chartered bank established in 1999 that provides a fully integrated suite of banking products and services tailored to the needs of commercial and retail customers. Red River Bank operates from a network of 28 banking centers throughout Louisiana and one combined loan and deposit production office in New Orleans, Louisiana. Banking centers are located in the following Louisiana markets: Central, which includes the Alexandria metropolitan statistical area (“MSA”); Northwest, which includes the Shreveport-Bossier City MSA; Capital, which includes the Baton Rouge MSA; Southwest, which includes the Lake Charles MSA; the Northshore, which includes Covington; Acadiana, which includes the Lafayette MSA; and New Orleans.

    Forward-Looking Statements

    Statements in this news release regarding our expectations and beliefs about our future financial performance and financial condition, as well as trends in our business and markets, are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements often include words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” “project,” “outlook,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” The forward-looking statements in this news release are based on current information and on assumptions that we make about future events and circumstances that are subject to a number of risks and uncertainties that are often difficult to predict and beyond our control. As a result of those risks and uncertainties, our actual financial results in the future could differ, possibly materially, from those expressed in or implied by the forward-looking statements contained in this news release and could cause us to make changes to our future plans. Additional information regarding these and other risks and uncertainties to which our business and future financial performance are subject is contained in the section titled “Risk Factors” in our most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q, and in other documents that we file with the SEC from time to time. In addition, our actual financial results in the future may differ from those currently expected due to additional risks and uncertainties of which we are not currently aware or which we do not currently view as, but in the future may become, material to our business or operating results. Due to these and other possible uncertainties and risks, readers are cautioned not to place undue reliance on the forward-looking statements contained in this news release or to make predictions based solely on historical financial performance. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. All forward-looking statements, express or implied, included in this news release are qualified in their entirety by this cautionary statement.

    Contact:
    Isabel V. Carriere, CPA, CGMA
    Executive Vice President, Chief Financial Officer, and Assistant Corporate Secretary
    318-561-4023
    icarriere@redriverbank.net

    FINANCIAL HIGHLIGHTS (UNAUDITED)
     
        As of and for the
    Three Months Ended    		   As of and for the
    Nine Months Ended
    (dollars in thousands, except per share data)   September 30,
    2024    		   June 30,
    2024    		   September 30,
    2023    		   September 30,
    2024    		   September 30,
    2023
    Net Income   $ 8,754     $ 7,987     $ 8,021     $ 24,929     $ 26,587  
                         
    Per Common Share Data:                    
    Earnings per share, basic   $ 1.28     $ 1.16     $ 1.12     $ 3.60     $ 3.70  
    Earnings per share, diluted   $ 1.27     $ 1.16     $ 1.12     $ 3.59     $ 3.70  
    Book value per share   $ 47.51     $ 44.58     $ 39.43     $ 47.51     $ 39.43  
    Tangible book value per share (1)   $ 47.28     $ 44.35     $ 39.21     $ 47.28     $ 39.21  
    Realized book value per share (1)   $ 54.78     $ 53.54     $ 50.27     $ 54.78     $ 50.27  
    Cash dividends per share   $ 0.09     $ 0.09     $ 0.08     $ 0.27     $ 0.24  
    Shares outstanding     6,826,120       6,886,928       7,150,685       6,826,120       7,150,685  
    Weighted average shares outstanding, basic     6,851,223       6,896,030       7,168,413       6,932,137       7,176,219  
    Weighted average shares outstanding, diluted     6,867,474       6,914,140       7,180,084       6,949,196       7,188,371  
                         
    Summary Performance Ratios:                    
    Return on average assets     1.13%       1.05%       1.05%       1.08%       1.18%  
    Return on average equity     11.11%       10.69%       11.15%       10.86%       12.71%  
    Net interest margin     2.93%       2.87%       2.74%       2.87%       2.91%  
    Net interest margin FTE     2.98%       2.92%       2.78%       2.92%       2.94%  
    Efficiency ratio     60.09%       62.07%       61.70%       60.84%       59.02%  
    Loans HFI to deposits ratio     74.84%       75.38%       70.60%       74.84%       70.60%  
    Noninterest-bearing deposits to deposits ratio     32.12%       32.87%       35.22%       32.12%       35.22%  
    Noninterest income to average assets     0.70%       0.67%       0.73%       0.67%       0.71%  
    Operating expense to average assets     2.17%       2.19%       2.13%       2.14%       2.12%  
                         
    Summary Credit Quality Ratios:                    
    NPAs to assets     0.10%       0.11%       0.07%       0.10%       0.07%  
    Nonperforming loans to loans HFI     0.15%       0.16%       0.10%       0.15%       0.10%  
    ACL to loans HFI     1.06%       1.06%       1.09%       1.06%       1.09%  
    Net charge-offs to average loans     0.00%       0.01%       0.00%       0.02%       0.01%  
                         
    Capital Ratios:                    
    Stockholders’ equity to assets     10.46%       10.07%       9.20%       10.46%       9.20%  
    Tangible common equity to tangible assets(1)     10.41%       10.02%       9.15%       10.41%       9.15%  
    Total risk-based capital to risk-weighted assets     18.07%       18.01%       18.35%       18.07%       18.35%  
    Tier 1 risk-based capital to risk-weighted assets     17.05%       16.99%       17.31%       17.05%       17.31%  
    Common equity Tier 1 capital to risk-weighted assets     17.05%       16.99%       17.31%       17.05%       17.31%  
    Tier 1 risk-based capital to average assets     11.90%       11.74%       11.56%       11.90%       11.56%  

    (1)  Non-GAAP financial measure. Calculations of this measure and reconciliations to GAAP are included in the schedules accompanying this release.

    RED RIVER BANCSHARES, INC.
    CONSOLIDATED BALANCE SHEETS (UNAUDITED)
     
    (in thousands) September 30,
    2024    		   June 30,
    2024    		   March 31,
    2024    		   December 31,
    2023    		   September 30,
    2023
    ASSETS                  
    Cash and due from banks $ 39,664     $ 35,035     $ 19,401     $ 53,062     $ 42,413  
    Interest-bearing deposits in other banks   192,983       178,038       210,404       252,364       279,786  
    Securities available-for-sale, at fair value   560,555       526,890       545,967       570,092       529,046  
    Securities held-to-maturity, at amortized cost   134,145       136,824       139,328       141,236       143,420  
    Equity securities, at fair value   3,028       2,921       2,934       2,965       2,833  
    Nonmarketable equity securities   2,305       2,283       2,261       2,239       2,190  
    Loans held for sale   1,805       3,878       1,653       1,306       2,348  
    Loans held for investment   2,056,048       2,047,890       2,038,072       1,992,858       1,948,606  
    Allowance for credit losses   (21,757)       (21,627)       (21,564)       (21,336)       (21,183)  
    Premises and equipment, net   57,661       57,910       57,539       57,088       56,466  
    Accrued interest receivable   9,465       9,570       9,995       9,945       8,778  
    Bank-owned life insurance   30,164       29,947       29,731       29,529       29,332  
    Intangible assets   1,546       1,546       1,546       1,546       1,546  
    Right-of-use assets   2,853       2,973       3,091       3,629       3,757  
    Other assets   31,285       34,450       32,940       32,287       36,815  
    Total Assets $ 3,101,750     $ 3,048,528     $ 3,073,298     $ 3,128,810     $ 3,066,153  
                       
    LIABILITIES                  
    Noninterest-bearing deposits $ 882,394     $ 892,942     $ 895,439     $ 916,456     $ 972,155  
    Interest-bearing deposits   1,864,731       1,823,704       1,850,452       1,885,432       1,787,738  
    Total Deposits   2,747,125       2,716,646       2,745,891       2,801,888       2,759,893  
    Accrued interest payable   11,751       8,747       8,959       8,000       6,800  
    Lease liabilities   2,982       3,100       3,215       3,767       3,892  
    Accrued expenses and other liabilities   15,574       13,045       15,919       11,304       13,617  
    Total Liabilities   2,777,432       2,741,538       2,773,984       2,824,959       2,784,202  
    COMMITMENTS AND CONTINGENCIES   —       —       —       —       —  
    STOCKHOLDERS’ EQUITY                  
    Preferred stock, no par value   —       —       —       —       —  
    Common stock, no par value   41,402       44,413       45,177       55,136       58,031  
    Additional paid-in capital   2,682       2,590       2,485       2,407       2,327  
    Retained earnings   329,858       321,719       314,352       306,802       299,079  
    Accumulated other comprehensive income (loss)   (49,624)       (61,732)       (62,700)       (60,494)       (77,486)  
    Total Stockholders’ Equity   324,318       306,990       299,314       303,851       281,951  
    Total Liabilities and Stockholders’ Equity $ 3,101,750     $ 3,048,528     $ 3,073,298     $ 3,128,810     $ 3,066,153  
    RED RIVER BANCSHARES, INC.
    CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
                         
        For the Three Months Ended   For the Nine
    Months Ended
    (in thousands)   September 30,
    2024    		   June 30,
    2024    		   September 30,
    2023    		   September 30,
    2024    		   September 30,
    2023
    INTEREST AND DIVIDEND INCOME                                    
    Interest and fees on loans   $ 27,909   $ 26,882     $ 23,925     $ 80,684   $ 68,541  
    Interest on securities     4,334     4,068       3,404       12,465     10,635  
    Interest on federal funds sold     —     —       —       —     886  
    Interest on deposits in other banks     2,630     2,709       2,950       8,378     6,359  
    Dividends on stock     28     22       45       73     106  
    Total Interest and Dividend Income     34,901     33,681       30,324       101,600     86,527  
    INTEREST EXPENSE                    
    Interest on deposits     12,444     11,894       9,562       35,993     21,319  
    Interest on other borrowed funds     —     —       37       —     64  
    Total Interest Expense     12,444     11,894       9,599       35,993     21,383  
    Net Interest Income     22,457     21,787       20,725       65,607     65,144  
    Provision for credit losses     300     300       185       900     485  
    Net Interest Income After Provision for Credit Losses     22,157     21,487       20,540       64,707     64,659  
    NONINTEREST INCOME                    
    Service charges on deposit accounts     1,486     1,367       1,489       4,223     4,317  
    Debit card income, net     905     949       830       2,875     2,687  
    Mortgage loan income     732     650       604       1,838     1,524  
    Brokerage income     987     893       1,029       2,867     2,759  
    Loan and deposit income     588     492       571       1,572     1,566  
    Bank-owned life insurance income     217     216       191       635     557  
    Gain (Loss) on equity securities     107     (13)       (113)       63     (145)  
    SBIC income     301     454       920       1,107     2,479  
    Other income (loss)     96     90       60       266     184  
    Total Noninterest Income     5,419     5,098       5,581       15,446     15,928  
    OPERATING EXPENSES                    
    Personnel expenses     9,700     9,603       9,461       28,854     28,008  
    Occupancy and equipment expenses     1,661     1,698       1,663       4,975     4,933  
    Technology expenses     865     724       675       2,298     2,066  
    Advertising     317     408       331       1,061     955  
    Other business development expenses     521     593       522       1,589     1,451  
    Data processing expense     652     651       651       1,650     1,689  
    Other taxes     622     500       664       1,859     2,042  
    Loan and deposit expenses     294     309       238       561     728  
    Legal and professional expenses     653     729       616       2,000     1,714  
    Regulatory assessment expenses     421     401       419       1,226     1,223  
    Other operating expenses     1,046     1,073       990       3,241     3,041  
    Total Operating Expenses     16,752     16,689       16,230       49,314     47,850  
    Income Before Income Tax Expense     10,824     9,896       9,891       30,839     32,737  
    Income tax expense     2,070     1,909       1,870       5,910     6,150  
    Net Income   $ 8,754   $ 7,987     $ 8,021     $ 24,929   $ 26,587  
    RED RIVER BANCSHARES, INC.
    NET INTEREST INCOME AND NET INTEREST MARGIN (UNAUDITED)
     
      For the Three Months Ended
      September 30, 2024   June 30, 2024
    (dollars in thousands) Average Balance Outstanding   Interest
    Income/
    Expense    		   Average
    Yield/
    Rate    		   Average Balance Outstanding   Interest
    Income/
    Expense    		   Average
    Yield/
    Rate
    Assets                      
    Interest-earning assets:                      
    Loans(1,2) $ 2,054,451     $ 27,909   5.32%     $ 2,042,602     $ 26,882   5.21%  
    Securities – taxable   545,171       3,344   2.45%       546,466       3,069   2.25%  
    Securities – tax-exempt   191,285       990   2.07%       193,954       999   2.06%  
    Interest-bearing deposits in other banks   194,229       2,630   5.36%       199,668       2,709   5.43%  
    Nonmarketable equity securities   2,284       28   4.85%       2,262       22   3.96%  
    Total interest-earning assets   2,987,420     $ 34,901   4.59%       2,984,952     $ 33,681   4.48%  
    Allowance for credit losses   (21,702)               (21,653)          
    Noninterest-earning assets   104,599               96,631          
    Total assets $ 3,070,317             $ 3,059,930          
    Liabilities and Stockholders’ Equity                      
    Interest-bearing liabilities:                      
    Interest-bearing transaction deposits $ 1,230,487     $ 6,042   1.95%     $ 1,230,474     $ 5,701   1.86%  
    Time deposits   597,286       6,402   4.26%       595,120       6,193   4.19%  
    Total interest-bearing deposits   1,827,773       12,444   2.71%       1,825,594       11,894   2.62%  
    Other borrowings   —       —   —%       1       —   5.78%  
    Total interest-bearing liabilities   1,827,773     $ 12,444   2.71%       1,825,595     $ 11,894   2.62%  
    Noninterest-bearing liabilities:                      
    Noninterest-bearing deposits   901,192               908,930          
    Accrued interest and other liabilities   28,006               24,868          
    Total noninterest-bearing liabilities   929,198               933,798          
    Stockholders’ equity   313,346               300,537          
    Total liabilities and stockholders’ equity $ 3,070,317             $ 3,059,930          
    Net interest income     $ 22,457           $ 21,787    
    Net interest spread         1.88%             1.86%  
    Net interest margin         2.93%             2.87%  
    Net interest margin FTE(3)         2.98%             2.92%  
    Cost of deposits         1.81%             1.75%  
    Cost of funds         1.66%             1.60%  

    (1)  Includes average outstanding balances of loans held for sale of $3.0 million and $3.2 million for the three months ended September 30, 2024 and June 30, 2024, respectively.
    (2)  Nonaccrual loans are included as loans carrying a zero yield.
    (3)  Net interest margin FTE includes an FTE adjustment using a 21.0% federal income tax rate on tax-exempt securities and tax-exempt loans.

    RED RIVER BANCSHARES, INC.
    NET INTEREST INCOME AND NET INTEREST MARGIN (UNAUDITED)
     
      For the Nine Months Ended
      September 30, 2024   September 30, 2023
    (dollars in thousands) Average Balance Outstanding   Interest
    Income/
    Expense    		   Average
    Yield/
    Rate    		   Average Balance Outstanding   Interest
    Income/
    Expense    		   Average
    Yield/
    Rate
    Assets                      
    Interest-earning assets:                      
    Loans(1,2) $ 2,037,435     $ 80,684   5.21%     $ 1,933,226     $ 68,541   4.68%  
    Securities – taxable   553,714       9,461   2.28%       618,345       7,535   1.63%  
    Securities – tax-exempt   194,341       3,004   2.06%       203,748       3,100   2.03%  
    Federal funds sold   —       —   —%       24,861       886   4.70%  
    Interest-bearing deposits in other banks   206,023       8,378   5.40%       167,210       6,359   5.05%  
    Nonmarketable equity securities   2,262       73   4.27%       3,744       106   3.76%  
    Total interest-earning assets   2,993,775     $ 101,600   4.47%       2,951,134     $ 86,527   3.88%  
    Allowance for credit losses   (21,586)               (20,920)          
    Noninterest-earning assets   100,586               88,527          
    Total assets $ 3,072,775             $ 3,018,741          
    Liabilities and Stockholders’ Equity                      
    Interest-bearing liabilities:                      
    Interest-bearing transaction deposits $ 1,240,737     $ 17,424   1.88%     $ 1,259,198     $ 12,126   1.29%  
    Time deposits   591,771       18,569   4.19%       441,442       9,193   2.78%  
    Total interest-bearing deposits   1,832,508       35,993   2.62%       1,700,640       21,319   1.68%  
    Other borrowings   —       —   —%       1,539       64   5.49%  
    Total interest-bearing liabilities   1,832,508     $ 35,993   2.62%       1,702,179     $ 21,383   1.68%  
    Noninterest-bearing liabilities:                      
    Noninterest-bearing deposits   907,722               1,016,034          
    Accrued interest and other liabilities   25,983               20,951          
    Total noninterest-bearing liabilities   933,705               1,036,985          
    Stockholders’ equity   306,562               279,577          
    Total liabilities and stockholders’ equity $ 3,072,775             $ 3,018,741          
    Net interest income     $ 65,607           $ 65,144    
    Net interest spread         1.85%             2.20%  
    Net interest margin         2.87%             2.91%  
    Net interest margin FTE(3)         2.92%             2.94%  
    Cost of deposits         1.75%             1.05%  
    Cost of funds         1.61%             0.97%  

    (1)  Includes average outstanding balances of loans held for sale of $2.7 million and $2.5 million for the nine months ended September 30, 2024 and 2023, respectively.
    (2)  Nonaccrual loans are included as loans carrying a zero yield.
    (3)  Net interest margin FTE includes an FTE adjustment using a 21.0% federal income tax rate on tax-exempt securities and tax-exempt loans.

    RECONCILIATION OF NON-GAAP FINANCIAL MEASURES (UNAUDITED)
     
    (dollars in thousands, except per share data) September 30,
    2024    		   June 30,
    2024    		   September 30,
    2023
    Tangible common equity          
    Total stockholders’ equity $ 324,318     $ 306,990     $ 281,951  
    Adjustments:          
    Intangible assets   (1,546)       (1,546)       (1,546)  
    Total tangible common equity (non-GAAP) $ 322,772     $ 305,444     $ 280,405  
    Realized common equity          
    Total stockholders’ equity $ 324,318     $ 306,990     $ 281,951  
    Adjustments:          
    Accumulated other comprehensive (income) loss   49,624       61,732       77,486  
    Total realized common equity (non-GAAP) $ 373,942     $ 368,722     $ 359,437  
    Common shares outstanding   6,826,120       6,886,928       7,150,685  
    Book value per share $ 47.51     $ 44.58     $ 39.43  
    Tangible book value per share (non-GAAP) $ 47.28     $ 44.35     $ 39.21  
    Realized book value per share (non-GAAP) $ 54.78     $ 53.54     $ 50.27  
               
    Tangible assets          
    Total assets $ 3,101,750     $ 3,048,528     $ 3,066,153  
    Adjustments:          
    Intangible assets   (1,546)       (1,546)       (1,546)  
    Total tangible assets (non-GAAP) $ 3,100,204     $ 3,046,982     $ 3,064,607  
    Total stockholders’ equity to assets   10.46%       10.07%       9.20%  
    Tangible common equity to tangible assets (non-GAAP)   10.41%       10.02%       9.15%  

    The MIL Network –

    January 25, 2025

  • MIL-OSI: Banzai to Host Third Quarter 2024 Results Conference Call on Thursday, November 14, 2024 at 5:30 p.m. Eastern Time

    Source: GlobeNewswire (MIL-OSI)

    SEATTLE, Oct. 30, 2024 (GLOBE NEWSWIRE) — Banzai International, Inc. (NASDAQ: BNZI) (“Banzai” or the “Company”), a leading marketing technology company that provides essential marketing and sales solutions, will hold a conference call on Thursday, November 14, 2024 at 5:30 p.m. Eastern time to discuss its results for the third quarter ended September 30, 2024, and will be reviewing expanding partnerships, and recent debt payoff and restructuring agreements. A press release detailing these results will be issued prior to the call.

    Banzai Founder & CEO Joe Davy and Interim CFO Alvin Yip will host the conference call, followed by a question-and-answer session. The conference call will be accompanied by a presentation, which can be viewed during the webcast or accessed via the investor relations section of the Company’s website here.

    To access the call, please use the following information:

    Date: Thursday, November 14, 2024
    Time: 5:30 p.m. Eastern Time, 2:30 p.m. Pacific Time
    Toll-free dial-in number: 1-877-425-9470
    International dial-in number: 1-201-389-0878
    Conference ID: 13749747
       

    Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact MZ Group at 1-949-491-8235.

    The conference call will be broadcast live and available for replay at https://viavid.webcasts.com/starthere.jsp?ei=1694251&tp_key=65eec38e9b and via the investor relations section of the Company’s website here.

    A replay of the webcast will be available after 9:30 p.m. Eastern Time through February 14, 2025.

    Toll-free replay number: 1-844-512-2921
    International replay number: 1-412-317-6671
    Replay ID: 13749747
       

    About Banzai

    Banzai is a marketing technology company that provides essential marketing and sales solutions for businesses of all sizes. On a mission to help their customers achieve their mission, Banzai enables companies of all sizes to target, engage, and measure both new and existing customers more effectively. Banzai customers include Square, Hewlett Packard Enterprise, Thermo Fisher Scientific, Thinkific, Doodle and ActiveCampaign, among thousands of others. Learn more at www.banzai.io. For investors, please visit https://ir.banzai.io/.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements often use words such as “believe,” “may,” “will,” “estimate,” “target,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “propose,” “plan,” “project,” “forecast,” “predict,” “potential,” “seek,” “future,” “outlook,” and similar variations and expressions. Forward-looking statements are those that do not relate strictly to historical or current facts. Examples of forward-looking statements may include, among others, statements regarding Banzai International, Inc.’s (the “Company’s”): future financial, business and operating performance and goals; annualized recurring revenue and customer retention; ongoing, future or ability to maintain or improve its financial position, cash flows, and liquidity and its expected financial needs; potential financing and ability to obtain financing; acquisition strategy and proposed acquisitions and, if completed, their potential success and financial contributions; strategy and strategic goals, including being able to capitalize on opportunities; expectations relating to the Company’s industry, outlook and market trends; total addressable market and serviceable addressable market and related projections; plans, strategies and expectations for retaining existing or acquiring new customers, increasing revenue and executing growth initiatives; and product areas of focus and additional products that may be sold in the future. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Forward-looking statements are not guarantees of future performance, and our actual results of operations, financial condition and liquidity and development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements. Therefore, investors should not rely on any of these forward-looking statements. Factors that may cause actual results to differ materially include changes in the markets in which the Company operates, customer demand, the financial markets, economic, business and regulatory and other factors, such as the Company’s ability to execute on its strategy. More detailed information about risk factors can be found in the Company’s Annual Report on Form 10-K and the Company’s Quarterly Reports on Form 10-Q under the heading “Risk Factors,” and in other reports filed by the Company, including reports on Form 8-K. The Company does not undertake any duty to update forward-looking statements after the date of this press release.

    Investor Relations
    Chris Tyson
    Executive Vice President
    MZ Group – MZ North America
    949-491-8235
    BNZI@mzgroup.us
    www.mzgroup.us

    Media
    Rachel Meyrowitz
    Director, Demand Generation, Banzai
    media@banzai.io

    The MIL Network –

    January 25, 2025

  • MIL-OSI: Bitget Announces the Listing of Act I: The AI Prophecy (ACT) in AI & Meme Zone with Airdrops in Rewards

    Source: GlobeNewswire (MIL-OSI)

    VICTORIA, Seychelles, Oct. 30, 2024 (GLOBE NEWSWIRE) — Bitget, the world’s leading crypto exchange and Web3 company, has listed Act I: The AI Prophecy (ACT) in its Innovation, AI, and Meme Zone, enhancing access to this cutting-edge AI-driven project. The listing is now live with trading available under the ACT/USDT pair, allowing users to engage with ACT through various market activities, including deposits, trading, and a unique airdrop promotion.

    The promotional event, CandyBomb, offers Bitget users the chance to earn ACT through deposits and trading activity. A total of 1,388,888 ACT tokens have been allocated for this campaign, which runs from 29 October to 5 November 2024. Participants can join the CandyBomb page, where valid deposit and trading activity will automatically count toward the ACT airdrop, divided into net deposits and spot trading pools. The first 833,333 ACT will be distributed based on net deposits, while new spot traders will have exclusive access to the remaining 555,555 ACT, providing a significant incentive for both experienced and new traders alike.

    As an innovative project, Act I: The AI Prophecy is reshaping the interaction paradigm within artificial intelligence, aiming to break away from traditional user-assistant interactions. Instead, ACT envisions an egalitarian digital space where both users and bots interact as equals, exploring more collaborative and integrated AI interactions. Built on the Solana blockchain, ACT provides a streamlined user experience with scalable infrastructure, inviting more extensive engagement in the rapidly expanding AI MEME ecosystem.

    This listing positions ACT within Bitget’s expanding portfolio of AI and meme-focused projects, underlining the platform’s commitment to offering users access to the most forward-looking digital assets. As ACT gains traction in both centralized and decentralized trading venues, this listing on Bitget will allow a broader audience to participate in its ecosystem, aligned with the rising interest in AI-powered crypto assets. With a vibrant community and strong online engagement, ACT presents an opportunity for users interested in emerging AI trends in the blockchain space.

    Bitget has consistently expanded its market share in both spot and derivatives trading among centralized exchanges. With a focus on providing users with opportunities to invest in popular and valuable projects, the platform is now one of the top 10 crypto spot trading platforms with over 800 coins and over 900 pairs, including tokens from ecosystems such as Ethereum, Solana, Base, and more recently TON.

    For more information on ACT on Bitget Spot, please visit here.

    About Bitget

    Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, Bitget is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.

    Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World’s Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

    For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
    For media inquiries, please contact: media@bitget.com

    Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8bb88e9e-8f39-426a-bc37-f14cba8c75bb

    The MIL Network –

    January 25, 2025

  • MIL-OSI: Wearable Devices and TCL’s RayNeo Join Forces to Bring the Future of Neural Controller Wristband to AR Glasses Market Significantly Ahead of Meta

    Source: GlobeNewswire (MIL-OSI)

    YOKNEAM ILLIT, ISRAEL, Oct. 30, 2024 (GLOBE NEWSWIRE) — Wearable Devices Ltd. (the “Company” or “Wearable Devices”) (Nasdaq: WLDS, WLDSW), a technology growth company specializing in artificial intelligence (“AI”)-powered touchless sensing wearables, announces an innovative collaboration with TCL-RayNeo™ (“RayNeo”), a leader in augmented reality (“AR”) technology, aiming at bringing mass-market neural interface wristband for AR glasses to life now.

    Both parties will be showcasing how neural interface wristband can be seamlessly integrated into AR devices, enhancing user experience by enabling hands-free, gesture-based interactions in augmented and mixed reality environments. This collaboration, previously announced earlier this month, highlights a groundbreaking leap towards more immersive, intuitive user experiences with the objective of being available as soon as next year. For comparison, Meta announced last month its entrance into the gesture control space and presented its neural wristband as a ‘Purposeful Product Prototype’ for smart glasses. RayNeo is known for its innovations in AR, developing cutting-edge AR glasses that enhance immersive experiences by overlaying digital content in the real world. By integrating RayNeo’s AR glasses with Wearable Devices’ neural gesture control technology, users can experience a truly hands-free interaction, elevating the immersive experience to new heights.

    “Our collaboration with RayNeo signals a thrilling new chapter in neural gesture technology,” said Asher Dahan, Chief Executive Officer of Wearable Devices. “Our breakthrough Mudra Band and Mudra Link technology is redefining how users interact in mixed reality, offering more natural and instinctive control. Together with RayNeo, we’re creating immersive experiences that feel almost magical, as if technology has become an extension of oneself.”

    “Collaborating with Wearable Devices represents a significant leap forward in the future of AR technology,” said Howie Li, Chief Executive Officer of RayNeo. “By combining RayNeo’s advanced AR glasses with the cutting-edge neural interface technology from Wearable Devices, we are committed to providing innovative solutions that empower users and transform everyday experiences. We believe this collaboration will lead to a new era of smart, intuitive, and immersive wearable experiences.”

    This collaboration highlights the potential for future innovations in the extended reality (“XR”) market. The combination of RayNeo’s advanced AR hardware and Wearable Devices’ neural input technology creates exciting possibilities for the next generation of smart wearables, offering seamless and touchless control across various applications. The details of the full terms of this collaboration are subject to negotiation and execution of definitive agreements.

    About Wearable Devices Ltd.

    Wearable Devices Ltd. is a growth company developing AI-based neural input interface technology for the B2C and B2B markets. The Company’s flagship product, the Mudra Band for Apple Watch, integrates innovative AI-based technology and algorithms into a functional, stylish wristband that utilizes proprietary sensors to identify subtle finger and wrist movements allowing the user to “touchlessly” interact with connected devices. The Company also markets a B2B product, which utilizes the same technology and functions as the Mudra Band and is available to businesses on a licensing basis. Wearable Devices Is committed to creating disruptive, industry leading technology that leverages AI and proprietary algorithms, software, and hardware to set the input standard for the Extended Reality, one of the most rapidly expanding landscapes in the tech industry. The Company’s ordinary shares and warrants trade on the Nasdaq market under the symbols “WLDS” and “WLDSW”, respectively.

    About RayNeo™

    RayNeo™, incubated by TCL Electronics (1070.HK), is an industry leader in consumer-grade AR innovation, developing some of the world’s most revolutionary AR consumer hardware, software and applications. RayNeo specializes in the research and development of AR technologies with industry-leading optics, display, algorithm and device manufacturing.

    Established in 2021, RayNeo has launched the world’s first full-color Micro-LED optical waveguide AR glasses, achieving several technology breakthroughs in the industry. Alongside winning the “Best Connected Consumer Device” at MWC’s Global Mobile Awards (GLOMO) 2023 with NXTWEAR S, RayNeo also developed the innovation consumer XR wearable glasses, RayNeo Air 2, featuring top-tier, cinematic audiovisual experiences with ultimate comfort. For more information, please visit: https://www.rayneo.com/

    Forward-Looking Statement Disclaimer

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward-looking statements, which are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as “believe,” “expect,” “may,” “should,” “could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate” or other comparable terms. For example, we are using forward-looking statements when we discuss benefits and advantages of our technology and solutions and those of RayNeo, our expectation that this collaboration will lead to a new era of smart, intuitive, and immersive wearable experiences and the availability of the technology to users. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. The Company may not enter into or complete any definitive agreement for the proposed collaboration or, even if it does, such collaboration may not achieve the intended benefits. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: the full terms of the contemplated collaboration which are subject to negotiation and execution of definitive agreements; the trading of our ordinary shares or warrants and the development of a liquid trading market; our ability to successfully market our products and services; the acceptance of our products and services by customers; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other security and telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our success establishing and maintaining collaborative, strategic alliance agreements, licensing and supplier arrangements; our ability to comply with applicable regulations; and the other risks and uncertainties described in our annual report on Form 20-F for the year ended December 31, 2023, filed on March 15, 2024 and our other filings with the SEC. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Investor Relations Contact

    Walter Frank
    IMS Investor Relations
    203.972.9200
    wearabledevices@imsinvestorrelations.com

    The MIL Network –

    January 25, 2025

  • MIL-OSI Economics: Samsung and Designer LaQuan Smith Offer Students an Inside Look at the Fashion Industry

    Source: Samsung

    Following their collaboration on the Lucid Dream sleepwear line unveiled at New York Fashion Week, Samsung extended its partnership with fashion icon LaQuan Smith, highlighting the connection between cutting-edge technology and fashion, and Samsung’s commitment to inspiring people to pursue their creative passions.
    In support of that goal, Samsung hosted three of LaQuan’s mentees, who are part of a program designed to uplift the next generation of designers. These up-and-coming fashion students took an exclusive tour of LaQuan’s studio and enjoyed insider access to the prestigious CFDA Fashion Awards. The night was filled with uplifting messages aimed at the next generation of fashion industry leaders, and a recognition that mentorship is key to their success.

    We’ve equipped these future designers and creatives with the Galaxy Z Flip6, Galaxy Tab S10 Ultra, and Galaxy Ring to have all the tools on hand whenever inspiration strikes, from the classroom to the streets of the city. These devices offer groundbreaking experiences, whether they’re looking to create content while wearing their latest look, mock-up a design using their S Pen, research fashion trends while on social media with Circle to Search, or ensure they receive a good night’s rest after a long day.
    LaQuan Provides a Sneak Peak of His Designs

    LaQuan invited his mentees to tour his studio and get an early look at the outfits he designed for Victoria Monét and Teyana Taylor’s appearance at the 2024 CFDA Fashion Awards.

    Highlights from the CFDA Fashion Awards
    Each year, the CFDA Fashion Awards honor the best in American design and feature some of the most talked about outfits of the year. Recently, LaQuan dressed Khloe Kardashian and Lenny Kravitz for the CFDA awards — and in 2022 he was nominated for American Womenswear Designer of the Year. Samsung and LaQuan hosted his mentees so they could experience the event firsthand, learn from fashion icons, and see how creative design was intentionally woven throughout the entire evening — from the clothes to the décor, to the meticulous run of show. The awards featured stunning outfits, and exciting victories by some of the most influential figures in the industry.

    MIL OSI Economics –

    January 25, 2025
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