Category: KB

MIL-OSI New Zealand: Mindful Money – Use your KiwiSaver for climate action

Source: Mindful Money

On International Day of Climate Action 2024, New Zealand charity Mindful Money is calling on Kiwis to drive climate action with their investments’. Most of us want to do our bit to help avoid climate chaos. A crucial – and easy – step that Kiwis can take is to reduce the emissions that result from their KiwiSaver and other investments.

Mindful Money is highlighting three actions that Kiwis can take to reduce the emissions financed by their investments.

Climate action 1: Avoid funding the fossil fools

Everyone with a KiwiSaver fund has the power to ensure their money doesn’t fuel climate change. There is over a billion dollars of KiwiSaver funds invested in hard core climate polluters that are still increasing their emissions, instead of transitioning to renewable energy.

Mindful Money Co-CEO Barry Coates explained: “This year’s Climate Action Day comes at a time when floods, fires, lethal heat and cyclones are devastating the lives of millions of vulnerable people, and wreaking havoc on our oceans, glaciers, forests and species. Kiwis can reduce their own contribution by choosing not to invest in the companies causing the most damage.”

The highest emissions are from the major coal, oil and gas companies that have made billions of dollars in profits while denying the problem and delaying and obstructing climate policy. A mere 57 oil, gas, coal and cement producers are directly linked to 80% of the world’s global fossil CO2 emissions since the 2015 Paris climate agreement.

The public companies, Shell, ExxonMobil, Chevron, BP and TotalEnergies were the five largest emitters between 2016 and 2022.

New Zealanders still invest large amounts in these fossil fools. Analysis by Mindful Money across all 376 KiwiSaver funds shows that $3.75 billion was invested in fossil fuel companies at end March 2024. More than a third of that was invested in the companies that are still expanding their production, instead of transitioning to renewable energy.

Investors in fossil fuel expanders are also taking financial risks from future declines in demand for fossil fuels and stranded assets – the reserves and production infrastructure that will become worthless as renewable energy replaces fossil fuels.

Barry Coates commented: “Surveys show that 71% of Kiwis want to avoid fossil fuels companies in their investment funds. But most KiwiSaver funds invest in fossil fuels, including those the companies that are still expanding their production. Everyone with a KiwiSaver or some kind of investment can play their part in cutting off investment into the worst climate polluters.”

ACTION (estimated 15 minutes): Members of the public can go to Mindful Money’s website to find out if their KiwiSaver fund is invested in these companies. It’s quick, easy and free to check your fund, and then find a fund that is better for the climate. https://mindfulmoney.nz/kiwisaver/checker/

Climate action 2: Don’t fall for the greenwashing

Over half of Kiwis surveyed are concerned about greenwashing – misleading claims that companies or funds are ‘climate friendly’ or ‘green’ or ‘sustainable’. There has been growing international pressure on companies and funds that make empty promises in order to boost their profits, but little action in New Zealand.

The EU, UK and other governments are introducing rules on green claims by companies and funds to prevent greenwashing, and regulators are taking action. The Australian Securities and Investment Commission (ASIC) has taken 47 regulatory actions against greenwashing over the past 15 months.

There have been three court cases including a fine of $14 million for global fund manager, Vanguard. New Zealand’s Financial Markets Authority (FMA) has repeatedly warned they will take action against misleading claims but has yet to take action. Meanwhile KiwiSaver and investment funds are still claiming green credentials while investing in the fossil fools.

Barry Coates commented: “It is not surprising the New Zealand public is concerned about greenwashing. Most funds in New Zealand claim to use some form of Environmental, Social and Governance (ESG) management in their investment. But these ESG claims are not consistent with investment portfolios that contain companies destroying the world’s climate and facing huge financial risks.”

“The New Zealand government is still failing to tackle greenwashing by the providers of KiwiSaver and other funds whose claims are not backed up by their actual investments. Investors need to take action themselves to ensure that their investments are not adding fuel to the climate fire.”

Without government action in New Zealand, the responsibility for avoiding greenwash falls on individual investors. It is now easy for members of the public to get free information about the reality of where their money goes. Mindful Money’s website not only shows the fossil fuel investments for all KiwiSaver and investment funds, but identifies those that are still expanding their production.

ACTION: Those with KiwiSaver and investment funds should call on their fund providers to provide evidence of their ESG or sustainability claims, including specifics about the companies they invest in. Information provided by the fund providers can be checked out with the investment listing on Mindful Money. http://www.mindfulmoney.nz/kiwisaver/checker/

Climate Action 3: Add your voice for change

International cooperation in the form of a Fossil Fuel Treaty is needed to stop the major fossil fuel companies from blocking progress towards investment in renewable energy. International treaties have been developed to phase out other forms of harmful products, including landmines and nuclear weapons. The Fossil Fuel Non-Proliferation Treaty is being proposed to manage a global transition to a safe and affordable energy future for all. It has been endorsed by 14 governments (not including New Zealand) and thousands of leaders from across civil society and local government, including Wellington City Council and Kāpiti Coast District Council.

ACTION: Members of the public are encouraged to work with organisations, networks, faiths, academic institutions and Councils to support the treaty, and to sign the treaty themselves. https://fossilfueltreaty.org/

Barry Coates concluded: “The Treaty is important to focus government attention on the fossil fuel industry. For the third year in a row, the next climate summit in December 2024 will be held in a country producing oil and gas (Azerbaijan). Fossil fuel lobbyists will again be given privileged access. The Fossil Fuel Treaty is a way to bring the issues of fossil fuel phaseout into the climate negotiations.”

Notes:

International Climate Day of Action is on Thursday 24th October. It is a time for citizens around the world to consider the actions they can take to help avoid the worsening climate crisis.

Mindful Money’s Fund Checker enables members of the public to check the investments in their KiwiSaver and investment funds. It is quick, easy and free.

https://mindfulmoney.nz/kiwisaver/checker/

The research report ‘In Transition or in denial’ explains the categorisation of fossil fuel companies into those transitioning to renewable energy and those still expanding their oil and gas production.

https://mindfulmoney.nz/learn/fossil-fuel-investment-in-transition-or-in-denial/

The Mindful Money Fund Finder helps members of the public to find a fund that aligns with their values. https://mindfulmoney.nz/kiwisaver/finder/

The website provides a list of funds that do not invest in fossil fuel companieshttps://mindfulmoney.nz/invest-climate-action/fossil-free-funds/

Research on capital expenditure by the major coal, oil and gas companies is published by the international research institute, InfluenceMap.

This week, a greenwashing action has been launched against the world’s largest fund manager, BlackRock.

The complaint to the French financial regulator shows the US investment giant’s so-called “sustainable” funds have poured over a billion dollars into fossil fuel expanders, including ExxonMobil, Shell, TotalEnergies, Chevron and BP.

International research shows the large passive funds that are claiming to invest sustainably are still investing in the oil and gas companies that are expanding their production. 70% of the 430 ‘sustainable’ passive funds analysed by international researcher Reclaim Finance were exposed to companies expanding their fossil fuels. These included big oil and gas developers (e.g. ExxonMobil, TotalEnergies, Shell) and big coal developers (e.g. Adani, Mitsubishi, Glencore).

Greenwash can take different forms. Some funds claim to be green by investing in the fossil fuel companies and then influencing them towards sustainability.

But the latest progress report from the umbrella engagement forum, Climate Action 100+, shows continued empty promises and little action. Only one of 37 major oil and gas companies subject to engagement is making adequate progress towards net zero. Seven years after Climate Action 100+ was formed, most of the coal, oil and gas companies are still expanding their oil and gas production instead of transitioning to renewable energy.

The only New Zealand case on greenwashing has been a civil case. Consumer NZ, the Environmental Law Initiative (ELI) and Lawyers for Climate Action New Zealand Inc (LCANZI) are seeking declarations from the High Court that Z Energy has breached the Fair Trading Act by misleading New Zealanders with its public messaging that it is“getting out of the petrol business” and it is “well on track to achieving [its] carbon reduction targets” when in fact its emissions have been increasing.

MIL OSI New Zealand News –

January 24, 2025
MIL-OSI New Zealand: CoreLogic – Investors take a fresh look at the NZ property market

Source: CoreLogic

Mortgaged multiple property owners (MPOs) remain less active than usual, but there are early signs that some are starting to return – a signal that ‘mum and dad’ investors might be starting to see value in the NZ property market again.

CoreLogic’s October Housing Chart Pack shows that for the month of September, mortgaged MPOs made up 22.6% of all property purchases, up from the record low seen exactly a year ago (20.4%) and the highest seen since around the middle of 2022.

CoreLogic NZ Chief Property Economist Kelvin Davidson said although the share of purchases going to mortgaged multiple property owners (including investors) remains low by historical standards, there have been hints over the past quarter that this group is showing renewed interest.

“That’s likely to reflect lower mortgage rates, which are reducing the required cashflow top-ups on a typical rental property purchase, but also the reinstatement of mortgage interest deductibility and reduced deposit requirements under the LVR rules,” said Mr. Davidson, referring to changes that allow investors to claim 80% of their mortgage interest as a deductible expense for tax purposes.

Data from the October Chart Pack also showed that gross rental yields have been trending higher – albeit slowly – as values have weakened and rents have risen.

From a floor of 2.8% in late 2021, they now stand at 3.9%, which is the highest level since early 2016.

Auckland and Wellington City are hovering in the 3-3.5% range, with Hamilton and Tauranga closer to 4%, and Christchurch and Dunedin a bit above 4%.

“Even though rental yields have trended higher, they’re still quite low compared to mortgage rates, so no doubt some would-be property investors are watching and waiting for interest rates to start falling to an even more favourable level,” added Mr. Davidson. “That said, on individual deals, clearly some savvy investors will already be able to secure yields that exceed the market averages.”

Investors on the rise again?

He said investors are going to be a group to watch in 2025 as rates are expected to keep falling.

“We estimate that a ‘typical’ mortgage rate of around 5.5% could start to entice growing numbers of investors back to the market, but that’s also potentially a rate at which debt-to-income ratio limits might start to have a more noticeable impact.”

“It remains to be seen what the net impact will be. Of course, whatever trade-offs investors might face in terms of lower funding costs but tougher credit rules, the exemption from the DTIs for new-builds could continue to make them a very strong option for would-be buyers.”

October Housing Chart Pack highlights:

New Zealand’s residential real estate market is worth a combined $1.61 trillion.

The CoreLogic Home Value Index (HVI) fell by a further 0.5% in September, the seventh decline in a row, taking the drop from February’s ‘mini peak’ to almost 5%.

Auckland fell again in September, and alongside Wellington, it has seen values drop by more than 3% since June. By contrast, Christchurch and Dunedin are proving a little more resilient.

Values dipped by 1.2% in the year to September, with the small upturn in late 2023 now close to being reversed. Taking the three months to September combined, there was a 2.4% drop in median property values across NZ.

Falls from the peak are now sitting at nearly 18% nationally, with some areas significantly larger.

National rental growth has settled into a more subdued phase, and was 1.2% in the year to September, which is comfortably below the long-term average of 3.2%.

Over the past 2-3 years, gross rental yields have been trending slowly higher, as values have weakened and rents have risen. From a floor of 2.8% in late 2021, they now stand at 3.9%.

MIL OSI New Zealand News –

January 24, 2025
MIL-OSI USA: Gov. Kemp: New AIG Office Hub to Create 600 Metro Atlanta Jobs

Source: US State of Georgia

Atlanta, GA – Governor Brian P. Kemp today announced that American International Group, Inc. (AIG), a leading global insurance company, will establish a new innovation hub in DeKalb County. The facility will triple AIG’s current Atlanta-area office space to accommodate over 1,000 employees, including the creation of more than 600 new roles over the next five years.

“Again and again, job creators are choosing the No. 1 state for business not just for first-time investment, but for expansion as well,” said Governor Brian Kemp. “AIG’s decision to grow their footprint here in Georgia is just the latest confirmation that we have what businesses want and are leveraging those assets to their fullest so we can bring new opportunity to all parts of the state. I want to thank our local and state partners who made this project possible, and I look forward to it’s long-lasting, positive impacts.”

With operations and network partners in more than 190 countries and jurisdictions, AIG provides insurance solutions that help businesses and individuals protect their assets and manage risks. AIG’s new Atlanta innovation hub, set to open in 2026, will be designed as a collaborative workspace where teams representing every aspect of AIG’s business will work together to test new processes and incubate digital capabilities to build value for clients and partners.

“For many years, AIG has been a part of Atlanta’s thriving business community, and we look forward to creating more than 600 high-quality jobs that will provide rewarding opportunities for the talented and skilled local workforce,” said Peter Zaffino, Chairman & Chief Executive Officer, AIG. “This investment is part of our commitment to continue to enhance our expertise to help our clients and partners navigate complex and emerging risks, while building additional capabilities for the future.”

The company will hire for various roles across underwriting, claims, operations, data engineering, and AI. Interested individuals can learn more about open roles and careers with AIG at http://www.aig.com/careers. For more information about AIG’s new Atlanta hub, visit http://www.aig.com/newsroom.

“Known for its highly regarded universities, hospitals, and healthcare industry, DeKalb County is renowned for fostering sustainable economic growth and prosperity,” said DeKalb County CEO Michael Thurmond. “Ranked as a top Fortune 100 company and recognized on Forbes’ first-ever list of America’s Best Employers for Tech Workers, we are delighted that AIG will bring additional business investment and employment opportunities to our county.”

“The quality of a company like AIG and the caliber of the employees that will call it home is a perfect fit for Brookhaven’s Perimeter Summit,” said Brookhaven Mayor John Park. “Job creation is extremely important in any economy, and we appreciate the leadership and collaboration of GDEcD and Decide DeKalb to bring AIG to Brookhaven.”

“AIG’s expansion is a testament to what we’ve been saying for years: this region was built for business,” said Katie Kirkpatrick, president and CEO of the Metro Atlanta Chamber. “The new Brookhaven location strengthens AIG’s presence in metro Atlanta and creates new jobs for Georgians as the company builds on its continued success.”

Assistant Director of Statewide Projects John Soper represented the Georgia Department of Economic Development (GDEcD) Global Commerce team on this project in partnership with Decide DeKalb, Georgia Power, the Metro Atlanta Chamber, and the University System of Georgia.

“For years, we lost some of our best and brightest talent to out-of-state opportunities. That’s no longer the case,” said GDEcD Commissioner Pat Wilson. “AIG’s office hub is a great example of the type of investment that will keep our well-educated, diverse talent engaged here at home after graduation.”

About American International Group, Inc. (AIG)

American International Group, Inc. (NYSE: AIG) is a leading global insurance organization. AIG provides insurance solutions that help businesses and individuals in approximately 190 countries and jurisdictions protect their assets and manage risks through AIG operations and network partners. For additional information, visit http://www.aig.com

MIL OSI USA News –

January 24, 2025
MIL-OSI: Jayud Global Logistics Expands U.S. Operations with Strategic Acquisitions in California and Georgia

Source: GlobeNewswire (MIL-OSI)

SHENZHEN, China, Oct. 23, 2024 (GLOBE NEWSWIRE) — Jayud Global Logistics Limited (NASDAQ: JYD) (“Jayud” or the “Company”), a leading end-to-end supply chain solution provider based in Shenzhen specializing in cross-border logistics, today announced the acquisition of significant stakes in two key logistics facilities in California and a licensed customs brokerage firm in Georgia. These strategic investments are part of Jayud’s ongoing efforts to expand its operational footprint in the United States and enhance its comprehensive suite of logistics services.

Jayud has acquired a 20% stake in a 70,000 sq.ft. warehouse located in Rialto, California, and a 49% stake in a 50,000 sq.ft. warehouse located in Chino, California. These facilities are located in major logistics hubs in California, enhancing Jayud’s capacity to manage and streamline supply chains in one of the U.S.’s busiest trade corridors.

In addition to the warehouse investments, Jayud has secured a 10% stake in LD Global Logistics Inc., a licensed customs broker established in 2016 and certified by U.S. Customs and Border Protection. Based in Georgia, LD Global Logistics Inc. provides critical brokerage services and operates a fleet of trucks, further supporting Jayud’s logistics operations across the southeastern United States. The inclusion of LD Global Logistics Inc. into Jayud’s portfolio expands its service capabilities and deepens its compliance and customs expertise in a key U.S. region, ensuring smoother and more efficient import and export processes for clients.

The Company issued a total of 3,365,588 Class A ordinary shares as consideration for the three acquisitions.

“These acquisitions are a testament to our commitment to strengthen our global logistics network and enhance service offerings to our clients, particularly in the U.S. market,” said Xiaogang Geng, Chairman of the Board and CEO of Jayud. “By integrating these assets into our portfolio, we are better positioned to offer end-to-end logistics solutions and meet the growing demand for efficient, reliable supply chain management in North America.”

About Jayud Global Logistics Limited

Jayud Global Logistics Limited is one of the leading Shenzhen-based end-to-end supply chain solution providers in China, focusing on cross-border logistics services. Headquartered in Shenzhen, the Company benefits from the unique geographical advantages of providing a high degree of support for ocean, air, and overland logistics. The Company has established a global operation nexus featuring logistic facilities throughout major transportation hubs in China and globally, with footprints in 12 provinces in Mainland China and 16 countries across six continents. Jayud offers a comprehensive range of cross-border supply chain solution services, including freight forwarding, supply chain management, and other value-added services. With its strong service capabilities and research and development capabilities in proprietary IT systems, the Company provides customized and efficient logistics solutions and develops long-standing customer relationships. For more information, please visit the Company’s website: https://ir.jayud.com.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “plan”, “believe”, “is/are likely to”, “potential”, “continue” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

For more information, please contact:

Jayud Global Logistics Limited
Investor Relations Department
Email: ir@jayud.com

Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com

The MIL Network –

January 24, 2025
MIL-OSI: FCCI Insurance Group Deploys Duck Creek Policy with Active Delivery to Modernize Operations and Drive Expansion into the Excess & Surplus Market

Source: GlobeNewswire (MIL-OSI)

BOSTON, Oct. 23, 2024 (GLOBE NEWSWIRE) — Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, today announced FCCI Insurance Group (FCCI) is live with its Excess & Surplus (E&S) line of business on Duck Creek Policy with Active Delivery. FCCI’s transition to Duck Creek’s platform enables Active Delivery to drive operational efficiencies, automate manual processes, and enhance speed to market for new products. Duck Creek’s premier delivery partner, Cognizant, led the implementation project to ensure FCCI quickly recognizes reduced expense ratios, improved core operational performance, and enhanced scalability to handle higher volumes seamlessly.

“Our expansion into the E&S market is a testament to our dedication to serve the evolving needs of businesses across industries,” said Dave Patel, Executive Vice President – Chief Information Officer (CIO) at FCCI. “Deploying Duck Creek Policy with Active Delivery will enable us to provide exceptional service and customized insurance solutions to businesses that require specialized coverage.”

Duck Creek Policy with Active Delivery eliminates the need for upgrades and enables P&C insurers to deliver insurance products at scale. By selecting this platform, FCCI can now support the E&S business processes with the ability to adapt to changes and deliver exceptional service to agents and policyholders. This targeted approach addresses the growing need for flexible and robust insurance solutions in markets that face unique challenges.

“In this era of rapid customer-centric innovation and growth, we continue to help insurers streamline their processes to deliver new insurance services that will directly benefit policyholders quickly,” said Chris McCloskey, Chief Operating Officer at Duck Creek Technologies. “With the launch of Policy with Active Delivery, FCCI will never have to upgrade again – eliminating maintenance costs and changing the way they do business.”

To learn more about Duck Creek Policy with Active Delivery Platform, visit Duck Creek Policy. To learn more about how FCCI is expanding its E&S capability, read this release.

About Duck Creek Technologies

Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit http://www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and X.

Media Contacts:
Marianne Dempsey/Tara Stred
duckcreek@threeringsinc.com

The MIL Network –

January 24, 2025
MIL-OSI: red violet to Announce Third Quarter 2024 Financial Results on November 6, 2024

Source: GlobeNewswire (MIL-OSI)

BOCA RATON, Fla., Oct. 23, 2024 (GLOBE NEWSWIRE) — Red Violet, Inc. (NASDAQ: RDVT), a leading analytics and information solutions provider, announced today that it will report its financial results for the third quarter ended September 30, 2024 after the close of the U.S. financial markets on Wednesday, November 6, 2024.

The Company will host its earnings call on Wednesday, November 6, 2024 at 4:30pm ET to discuss its quarterly results and provide a business update.

The participant registration and webcast information are listed below. The earnings call will be simultaneously webcast on the Investors section of the red violet website at http://www.redviolet.com. Please login at least 15 minutes prior to the start of the call to ensure adequate time for any downloads that may be required.

Please note participants must register to receive their unique dial-in number credentials. A general dial-in number will not be provided.

PARTICIPANT REGISTRATION & WEBCAST INFORMATION
WHEN: WEDNESDAY, November 6, 2024 at 4:30pm ET
Participant Registration: Click Here
Webcast URL: Click Here

Following the completion of the conference call, an archived webcast of the earnings call will be available on the Investors section of the red violet website at http://www.redviolet.com.

About red violet^®

At red violet, we build proprietary technologies and apply analytical capabilities to deliver identity intelligence. Our technology powers critical solutions, which empower organizations to operate with confidence. Our solutions enable the real-time identification and location of people, businesses, assets and their interrelationships. These solutions are used for purposes including identity verification, risk mitigation, due diligence, fraud detection and prevention, regulatory compliance, and customer acquisition. Our intelligent platform, CORE™, is purpose-built for the enterprise, yet flexible enough for organizations of all sizes, bringing clarity to massive datasets by transforming data into intelligence. Our solutions are used today to enable frictionless commerce, to ensure safety, and to reduce fraud and the concomitant expense borne by society. For more information, please visit http://www.redviolet.com.

Company Contact:
Camilo Ramirez
Red Violet, Inc.
561-757-4500
ir@redviolet.com

Investor Relations Contact:
Steven Hooser
Three Part Advisors
214-872-2710
ir@redviolet.com

The MIL Network –

January 24, 2025
MIL-OSI: Nano Labs Announces Results of Annual General Meeting of Shareholders

Source: GlobeNewswire (MIL-OSI)

HANGZHOU, China, Oct. 23, 2024 (GLOBE NEWSWIRE) — Nano Labs Ltd (Nasdaq: NA) (“we,” the “Company” or “Nano Labs”), a leading fabless integrated circuit design company and product solution provider in China, today announced the results of the Company’s Annual General Meeting (“AGM”) held at 10 A.M. on October 23, 2024, Beijing time (10 P.M., October 22, 2024, U.S. Eastern time). The proposals submitted for shareholder approval at the AGM have been approved. Specifically, the shareholders have passed the following resolutions:

(1) to effect a share consolidation of every ten shares with a par value of US$0.0002 each in the Company’s issued and unissued share capital into one share with a par value of US$0.002 (the “Share Consolidation”), so that immediately following the Share Consolidation and the share re-designation, the authorized share capital of the Company shall be US$50,000 divided into 25,000,000 ordinary shares of par value of US$0.002 each, comprising (i) 12,141,093 Class A ordinary shares of par value of US$0.002 each, (ii) 2,858,908 Class B ordinary shares of par value of US$0.002 each, and (iii) 9,999,999 shares of a par value of US$0.002 each of such class or classes (however designated) as the board of directors of the Company may determine in accordance with the Company’s New M&A (as defined below).

(2) to amend the Company’s memorandum and articles of association currently in effect by the adoption of a new memorandum and articles of association to reflect the Share Consolidation (after the amendment, the “New M&A”); and

(3) to approve the appointment of MaloneBailey, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2024.

The Share Consolidation will be effective from 5 P.M. on October 29, 2024, Eastern time.

About Nano Labs Ltd

Nano Labs Ltd is a leading fabless integrated circuit (“IC”) design company and product solution provider in China. Nano Labs is committed to the development of high throughput computing (“HTC”) chips, high performance computing (“HPC”) chips, distributed computing and storage solutions, smart network interface cards (“NICs”) vision computing chips and distributed rendering. Nano Labs has built a comprehensive flow processing unit (“FPU”) architecture which offers solution that integrates the features of both HTC and HPC. Nano Lab’s Cuckoo series are one of the first near-memory HTC chips available in the market*. For more information, please visit the Company’s website at: ir.nano.cn.

* According to an industry report prepared by Frost & Sullivan.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s plan to appeal the Staff’s determination, which can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

For investor inquiries, please contact:

Nano Labs Ltd
ir@nano.cn

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

The MIL Network –

January 24, 2025
MIL-OSI: The Pet Hazard Decking Your Halls: truInsights into Foreign Body Ingestion & Holiday Decor
Source: GlobeNewswire (MIL-OSI)

SEATTLE, Oct. 23, 2024 (GLOBE NEWSWIRE) — Tis the season for holiday decor. But all those haunted Halloween decorations, Thanksgiving centerpieces and Christmas ornaments present a hidden danger pet parents need to watch out for.

In 2023 alone, pet medical insurance company Trupanion (Nasdaq: TRUP) received more than 24,000 foreign body ingestion claims. Foreign body ingestion (FBI) is a painful, sometimes deadly, and costly condition that happens when a pet eats something they can’t pass through their gastrointestinal system without veterinary help.

“Keep a close eye on your pets during the holiday season,” says veterinarian and Trupanion General Manager, Dr. Stephen Rose, BVSc (Hons1) M Infotech CVA ACVCHM. “And if you suspect your pet ate something they shouldn’t have, don’t risk it—reach out to your veterinarian to have them examined to be sure. It’s better to be safe than sorry in these instances.”

Foreign Body Ingestion: By the Numbers

In 2023, Trupanion paid 24,305 foreign body ingestion claims. The average claim was $878, while the highest claim was $27,403.

Amongst Trupanion’s current population of insured pets, 7% of dogs and 3% of cats have had an FBI claim. Puppies and kittens have the most FBI claims of any age group by far. Pets under 1 year of age claim 322% more than adults and senior pets. Adult pets claim 34% more than senior pets.

Top 5 Dog Breeds Claiming
- Doberman Pinscher
- Maltese
- Boston Terrier
- Shih Tzu
- German Pointer
Top 5 Cat Breeds Claiming
- Persian
- Bengal
- Russian Blue
- Sphynx
- Siberian
The Science & Medicine of Foreign Body Ingestion

When a pet eats a foreign object that they can’t pass through their gastrointestinal system, it can become lodged anywhere along the GI Tract and cause a variety of symptoms from vomiting and diarrhea to obstruction, organ damage, and even death.

Early signs and symptoms of foreign body ingestion are vomiting, diarrhea, lethargy, refusal of food or loss of appetite, whining, restlessness, pain in the belly, straining to defecate or being unable to fully vacate the bowels.

If these symptoms are observed, it’s recommended that the pet is seen by a veterinarian as quickly as possible so that they can be evaluated for foreign body ingestion.

During the examination, the vet may perform diagnostic imaging such as x-rays to see if a foreign object can be seen, or use a substance called Barium which when swallowed, illuminates on the radiographs to show if there is a blockage somewhere along the GI tract, and can help track the foreign material.

Surgery is often needed to safely remove foreign objects from the GI tract to prevent further damage. The vet may also support with IV fluids, prescribing pain and/or nausea medications, inducing vomiting, performing bloodwork to check organ function, as well as observation while the pet passes the object.

Prognosis is based on many factors such as what the pet ingested, how long the object has been stuck in the GI tract, where in the tract the object is stuck, and how healthy the pet is otherwise.

Early intervention is always better. If too much time passes before treatment, the pet’s health may continue to decline, and if the blockage is an intestinal or stomach obstruction, the blood flow to organs can be affected, which can result in permanent damage or necrosis of those tissues. In these cases, just a few hours can mean the difference between life or death.

Keeping Your Pets Safe During the Holidays

Common items that pets ingest that result in foreign body ingestion include clothing (often socks and underwear), sticks, bones, corn cobs, champagne corks, food packaging and wrappers, dental floss, hair elastics, and toy stuffing or squeakers.

During the holidays, the big ones to watch out for are decorations like tinsel, garlands, ribbons, and string. In fact, there is a specific type of very dangerous foreign body ingestion called a Linear Foreign Body, where things like strings or ribbons get lodged anywhere from the tongue down the esophagus and into the stomach and intestines. These linear foreign objects can cause the intestines to bunch and slice through the tissues as the body tries to expel them.

“Keep a close eye on your pets during the holiday season,” says veterinarian and Trupanion General Manager, Dr. Stephen Rose, BVSc (Hons1) M Infotech CVA ACVCHM. “There’s a lot going on—a lot of distractions for pet parents, and a lot of objects around the house this time of year that look like toys to our pets, so it’s vital to remain vigilant. On special occasions, ensure you’re cleaning up wrapping paper, bows, and ribbons after opening gifts, and when entertaining, keep pets contained and out of the kitchen so they don’t have access to food and bones, and to prevent guests from feeding them things they shouldn’t eat. And if you suspect your pet ate something they shouldn’t have, don’t risk it—reach out to your veterinarian to have them examined to be sure. It’s better to be safe than sorry in these instances.”

More Foreign Body Ingestion Safety Tips
- Provide gates and pens to control what areas pet have access to
- Check toys regularly to ensure they’re still intact
- Dispose of toys that are coming apart to prevent ingestion of stuffing, strings and squeakers
- Keep laundry room doors closed to prevent access to laundry baskets and detergent pods
- Keep bathroom and bedroom doors closed to prevent access to garbage cans and other debris
About truInsights

truInsights is a data focused initiative introduced by Trupanion and designed to deliver valuable health-related data and insights to pet parents, veterinarians and pet lovers alike. With over 20 years of pet health data, Trupanion has explored its veterinary invoice data from nearly two million pets and provides details on data trends, as well as prevention tips for keeping our pets safe.

About Trupanion

Trupanion is a leader in medical insurance for cats and dogs throughout the United States, Canada, Europe, Puerto Rico and Australia with over 1,000,000 pets currently enrolled. For over two decades, Trupanion has given pet owners peace of mind so they can focus on their pet’s recovery, not financial stress. Trupanion is committed to providing pet parents with the highest value in pet medical insurance with unlimited payouts for the life of their pets. With its patented process, Trupanion is the only North American provider with the technology to pay veterinarians directly in seconds at the time of checkout. Trupanion is listed on NASDAQ under the symbol “TRUP”. The company was founded in 2000 and is headquartered in Seattle, WA. Trupanion policies are issued, in the United States, by its wholly-owned insurance entity American Pet Insurance Company and, in Canada, by Accelerant Insurance Company of Canada. Trupanion Australia is a partnership between Trupanion and Hollard Insurance Company. Policies are sold and administered by Trupanion Managers USA, Inc. (CA license No. 0G22803, NPN 9588590). For more information, please visit trupanion.com.

Contacts:

Media: Trupanion Corporate Communications

Corporate.communications@trupanion.com

The MIL Network –
January 24, 2025
MIL-OSI: authID Announces Launch of its Biometric Identity Services with Imperial Technologies

Source: GlobeNewswire (MIL-OSI)

Expands market presence into telecommunications vertical

DENVER, Oct. 23, 2024 (GLOBE NEWSWIRE) — authID® (Nasdaq: AUID), a leading provider of biometric identity verification and authentication solutions, today announced Imperial Technologies Inc., a broadband and wireless high-speed internet provider across all 50 states, has signed a multi-year agreement and launched authID’s biometric identity and document verification services to streamline and secure new customer onboarding.

With the high frequency of identity fraud, deepfakes, and social engineering account takeover attacks, Imperial wanted to streamline its customer onboarding and reduce the resources required to perform manual and often error-prone identity checks. The company selected authID because of its ability to deliver a fully orchestrated identity verification solution that is fast, accurate, user-friendly, and helped accelerate good customer conversion, while stopping fraud quickly.

“authID stood out among the various identity providers because of its biometric platform’s ability to securely onboard and seamlessly authenticate our customer base with the highest levels of identity assurance,” said Faiz Chaudhry, CEO of Imperial Technologies. “Together authID and Imperial Technologies are re-shaping the landscape of digital customer acquisition with highly secure identity trust that does not compromise on speed or convenience.”

Imperial Technologies is now leveraging authID’s document-based biometric identity verification to streamline onboarding with an easy, intuitive user experience delivered in any browser to any device. authID stops identity fraud with PAD Level 2 liveness confirmation, ID anti-spoofing checks, and facial biometric matching of a selfie to the credential photo, all in a market-leading 700 milliseconds. To help users seamlessly authenticate their identities at any time, authID extends the value of that root of trust with biometric authentication that replaces friction-filled one-time passwords and easily compromised knowledge-based answers (KBA).

“This customer win and our expansion into the telecommunications vertical demonstrates our broad product fit and our strong ability to ensure enterprises ‘Know Who’s Behind the Device’ during onboarding and throughout the user journey to prevent cybercriminals using malicious AI from impersonating users, deploying deepfakes, or performing account takeovers,” said Rhon Daguro, CEO of authID. “authID is committed to helping Imperial Technologies enjoy the highest levels of identity trust delivered with market-leading speed, accuracy, and frictionless identity experiences that deepen customer loyalty.”

About authID
authID® (Nasdaq: AUID) ensures enterprises “Know Who’s Behind the Device™” for every customer or employee login and transaction through its easy-to-integrate, patented, biometric identity platform. authID quickly and accurately verifies a user’s identity and eliminates any assumption of ‘who’ is behind a device to prevent cybercriminals from compromising account openings or taking over accounts. Combining secure digital onboarding, FIDO2 passwordless login, and biometric authentication and account recovery, with a fast, accurate, user-friendly experience, authID delivers biometric identity processing in 700ms. Binding a biometric root of trust for each user to their account, authID stops fraud at onboarding, detects and stops deepfakes, eliminates password risks and costs, and provides the fastest, frictionless, and the more accurate user identity experience demanded by today’s digital ecosystem. Contact us to discover how authID can help your organization secure your workforce or consumer applications against identity fraud, cyberattacks and account takeover.

About Imperial Technologies Inc.
Imperial Technologies Inc., headquartered in Atlanta, Georgia, offers wireless & wireline connectivity across North America. Imperial Wireless, Imperial Internet, Imperial Smart Security, Imperial Mobile, Imperial Voice, and Imperial GPS are all part of the same family belonging to Imperial Technologies Inc. Our goal is to simplify your Connectivity experience. Smart Innovation & customer satisfaction are the driving force behind our products. We are committed to ensure that our solutions meet the needs of both households and businesses nationwide. Learn more at http://www.imperialinternet.com

Media Contacts
Walter Fowler
1-631-334-3864
wfowler@nexttechcomms.com

Investor Relations Contacts
Investor-Relations@authid.ai

Gateway Group, Inc.
Cody Slach and Alex Thompson
1-949-574-3860
AUID@gateway-grp.com

The MIL Network –

January 24, 2025

MIL-OSI: Morris State Bancshares Announces Quarterly Earnings and Declares Fourth Quarter Dividend

Source: GlobeNewswire (MIL-OSI)

DUBLIN, Ga., Oct. 23, 2024 (GLOBE NEWSWIRE) — Morris State Bancshares, Inc. (OTCQX: MBLU) (the “Company”), the parent of Morris Bank, today announced net income of $5.4 million for the quarter ending September 30, 2024, representing an increase of $124 thousand, or 2.34%, compared to net income of $5.3 million for the quarter ended June 30, 2024. Year over year the Company’s net income increased $954 thousand, or 21.23%, compared to net income of $4.5 million for the quarter ended September 30, 2023. The Company’s quarterly net earnings rose due to sustained loan growth, higher loan yields, an increase in noninterest-bearing deposit accounts, and some stabilization in the cost of funds. These factors combined to strengthen the bank’s net interest margin, bringing it to 4.10%.

“We had a solid third quarter. Our core earnings engine remains strong as reflected by the growth in our net interest income. In the third quarter, we generated net interest income of $14.0 million, which was $428 thousand above the June 30, 2024, level of $13.6 million and $1.1 million above the September 30, 2023 level of $12.9 million,” said Spence Mullis, Chairman and CEO. “The Federal Reserve’s reduction in the Fed funds rate, combined with robust growth in noninterest-bearing balances, has contributed to stabilizing our cost of funds. Despite continued payoffs of larger loans, we continue to fund a good volume of new loans and previously unfunded commitments driving our loan balances slightly higher.”

The net interest margin was 4.10% for the third quarter of 2024 compared to 4.02% for the second quarter of 2024 and 3.94% for the third quarter of 2023. The average yield on earning assets grew nine basis points from 5.96%, as of June 30, 2024, to 6.05%, while the Company’s cost of funds increased two basis points from 2.16% to 2.18% during the same period.

Total deposits declined during the quarter by $16.6 million, or 1.37%, which included a $24 million reduction in brokered money market deposits. However, non-interest-bearing deposits increased $21.5 million, or 7.19% during the quarter, helping to bolster the net interest margin. The bank took down $15.0 million in borrowings from the Federal Home Loan Bank during the third quarter of 2024 to help fund new loan demand and offset the reduction in brokered deposits. Loans increased $6.3 million, or an annualized 2.36% during the third quarter, slowing from the second quarter’s annualized growth of 7.24%. Management anticipates steady loan demand in the fourth quarter as political uncertainty eases in November, providing customers with greater clarity to advance their growth strategies.

The bank’s reserve as a percentage of total loans was 1.30% for September 30, 2024, as compared to 1.30% for June 30, 2024, and 1.32% as of September 30, 2023. The Company’s adversely classified index increased slightly from 6.04% as of June 30, 2024, to 6.15% as of September 30, 2024. The bank’s efficiency ratio increased slightly from 58.36% as of June 30, 2024, to 58.90% as of September 30, 2024.

The Company’s total shareholders’ equity increased 2.35% to $190.6 million as of September 30, 2024, as compared to $186.2 million as of June 30, 2024. Tangible book value per share increased to $16.97 as of September 30, 2024, a 2.66% increase from $16.53 per share on June 30, 2024. On October 16, 2024, the board of directors approved its fourth quarter dividend of $0.092 per share payable on or about December 15th to all shareholders of record as of November 15th.

Forward-looking Statements

Certain statements contained in this release may not be based on historical facts and are forward-looking statements. These forward-looking statements may be identified by their reference to a future period or periods or by the use of forward-looking terminology such as “anticipate,” “believe,” “estimate,” “expect,” “may,” “might,” “will,” “would,” “could” or “intend.” We caution you not to place undue reliance on the forward-looking statements contained in this news release, in that actual results could differ materially from those indicated in such forward-looking statements as a result of a variety of factors, including, among others, the business and economic conditions; risks related to the integration of acquired businesses and any future acquisitions; changes in management personnel; interest rate risk; ability to execute on planned expansion and organic growth; credit risk and concentrations associated with the Company’s loan portfolio; asset quality and loan charge-offs; inaccuracy of the assumptions and estimates management of the Company makes in establishing reserves for probable loan losses and other estimates; lack of liquidity; impairment of investment securities, goodwill or other intangible assets; the Company’s risk management strategies; increased competition; system failures or failures to prevent breaches of our network security; changes in federal tax law or policy; the impact of recent and future legislative and regulatory changes; and increases in capital requirements. We undertake no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date of this news release.


MORRIS STATE BANCSHARES, INC.
AND SUBSIDIARIES

Consolidating Balance Sheet

	September 30,			June 30,								September 30,
		2024			2024		Change			% Change			2023		Change			% Change
	(Unaudited)			(Unaudited)								(Unaudited)
ASSETS

Cash and due from banks	$	48,180,615		$	43,688,884		$	4,491,731		10.28	%	$	36,373,555		$	11,807,060		32.46	%
Federal funds sold		11,932,122			14,624,710			(2,692,588	)	-18.41	%		8,695,149			3,236,973		37.23	%
Total cash and cash equivalents		60,112,737			58,313,594			1,799,143		3.09	%		45,068,704			15,044,033		33.38	%

Interest-bearing time deposits in other banks		100,000			100,000			—		0.00	%		100,000			—		0.00	%
Securities available for sale, at fair value		6,299,609			7,669,642			(1,370,033	)	-17.86	%		3,879,531			2,420,078		0.00	%
Securities held to maturity, at cost (net of CECL Reserve)		224,532,603			227,532,821			(3,000,218	)	-1.32	%		244,837,916			(20,305,313	)	-8.29	%
Federal Home Loan Bank stock, restricted, at cost		1,740,300			1,027,800			712,500		69.32	%		1,727,100			13,200		0.76	%
Loans, net of unearned income		1,088,132,851			1,081,790,223			6,342,628		0.59	%		1,049,730,890			38,401,961		3.66	%
Less-allowance for credit losses		(14,179,392	)		(14,109,191	)		(70,201	)	0.50	%		(13,860,420	)		(318,972	)	2.30	%
Loans, net		1,073,953,459			1,067,681,032			6,272,427		0.59	%		1,035,870,470			38,082,989		3.68	%
																–
Bank premises and equipment, net		12,912,111			13,051,972			(139,861	)	-1.07	%		13,325,846			(413,735	)	-3.10	%
ROU assets for operating lease, net		854,808			945,268			(90,460	)	-9.57	%		1,216,601			(361,793	)	-29.74	%
Goodwill		9,361,704			9,361,704			—		0.00	%		9,361,704			—		0.00	%
Intangible assets, net		1,422,326			1,508,214			(85,888	)	-5.69	%		1,765,877			(343,551	)	-19.45	%
Other real estate and foreclosed assets		39,755			43,408			(3,653	)	-8.42	%		3,567,309			(3,527,554	)	-98.89	%
Accrued interest receivable		6,640,617			6,421,999			218,618		3.40	%		5,585,081			1,055,536		18.90	%
Cash surrender value of life insurance		15,022,374			14,915,967			106,407		0.71	%		14,613,337			409,037		2.80	%
Other assets		22,311,520			21,721,225			590,295		2.72	%		25,711,989			(3,400,469	)	-13.23	%
Total Assets	$	1,435,303,923		$	1,430,294,646		$	5,009,277		0.35	%	$	1,406,631,465			28,672,458		2.04	%


LIABILITIES AND SHAREHOLDERS’ EQUITY

Deposits:
Non-interest bearing	$	320,503,732		$	298,997,994		$	21,505,738		7.19	%	$	316,825,603			3,678,129		1.16	%
Interest bearing		876,274,737			914,360,430			(38,085,693	)	-4.17	%		862,167,812			14,106,925		1.64	%
		1,196,778,469			1,213,358,424			(16,579,955	)	-1.37	%		1,178,993,415			17,785,054		1.51	%
																–
Other borrowed funds		34,009,138			18,998,904			15,010,234		79.01	%		42,132,633			(8,123,495	)	-19.28	%
Lease liability for operating lease		854,808			945,268			(90,460	)	-9.57	%		1,216,601			(361,793	)	-29.74	%
Accrued interest payable		2,114,956			1,730,280			384,676		22.23	%		979,913			1,135,043		115.83	%
Accrued expenses and other liabilities		10,938,057			9,038,821			1,899,236		21.01	%		10,056,934			881,123		8.76	%
																–
Total liabilities		1,244,695,428			1,244,071,697			623,731		0.05	%		1,233,379,496			11,315,932		0.92	%

Shareholders’ Equity:
Common stock		10,688,223			10,688,223			—		0.00	%		2,179,210			8,509,013		390.46	%
Paid in capital surplus		34,867,691			34,729,351			138,340		0.40	%		41,548,417			(6,680,726	)	-16.08	%
Retained earnings		131,085,914			132,061,494			(975,580	)	-0.74	%		116,705,941			14,379,973		12.32	%
Current year earnings		15,660,043			10,213,197			5,446,846		53.33	%		13,404,804			2,255,239		16.82	%
Accumulated other comprehensive income (loss)		1,582,952			1,648,392			(65,440	)	-3.97	%		2,148,509			(565,557	)	-26.32	%
Treasury Stock, at cost 91,878		(3,276,328	)		(3,117,708	)		(158,620	)	5.09	%		(2,734,912	)		(541,416	)	19.80	%
Total shareholders’ equity		190,608,495			186,222,949			4,385,546		2.35	%		173,251,969			17,356,526		10.02	%

Total Liabilities and Shareholders’ Equity	$	1,435,303,923		$	1,430,294,646			5,009,277		0.35	%	$	1,406,631,465			28,672,458		2.04	%

MORRIS STATE BANCSHARES, INC.
AND SUBSIDIARIES

Consolidating Statement of Income
for the Three Months Ended

	September 30,		June 30,							September 30,
		2024		2024	Change			% Change			2023		Change			% Change
	(Unaudited)		(Unaudited)							(Unaudited)
Interest and Dividend Income:
Interest and fees on loans	$	18,630,690	$	17,879,134	$	751,556		4.20	%	$	15,803,711		$	2,826,979		17.89	%
Interest income on securities		1,825,236		1,837,396		(12,160	)	-0.66	%		2,051,695			(226,459	)	-11.04	%
Income on federal funds sold		163,624		156,184		7,440		4.76	%		216,377			(52,753	)	-24.38	%
Income on time deposits held in other banks		338,433		590,205		(251,772	)	-42.66	%		302,545			35,888		11.86	%
Other interest and dividend income		21,031		64,639		(43,608	)	-67.46	%		43,630			(22,599	)	-51.80	%
Total interest and dividend income		20,979,014		20,527,558		451,456		2.20	%		18,417,958			2,561,056		13.91	%

Interest Expense:
Deposits		6,671,982		6,568,679		103,303		1.57	%		5,109,712			1,562,270		30.57	%
Interest on other borrowed funds		309,265		389,629		(80,364	)	-20.63	%		455,105			(145,840	)	-32.05	%
Interest on federal funds purchased		—		—		—		—			—			—		0.00	%
Total interest expense		6,981,247		6,958,308		22,939		0.33	%		5,564,817			1,416,430		25.45	%

Net interest income before provision for loan losses		13,997,767		13,569,250		428,517		3.16	%		12,853,141			1,144,626		8.91	%
Less-provision for credit losses		252,021		272,419		(20,398	)	-7.49	%		(33,351	)		285,372		-855.66	%
Net interest income after provision for credit losses		13,745,746		13,296,831		448,915		3.38	%		12,886,492			859,254		6.67	%

Noninterest Income:
Service charges on deposit accounts		576,751		535,847		40,904		7.63	%		532,598			44,153		8.29	%
Other service charges, commissions and fees		399,839		397,787		2,052		0.52	%		399,587			252		0.06	%
Gain on sales of foreclosed assets		—		—		—		0.00	%		—			—		0.00	%
Gain on sales of premises and equipment		—		141		(141	)	-100.00	%		—			—		0.00	%
Increase in CSV of life insurance		106,407		102,828		3,579		3.48	%		97,005			9,402		9.69	%
Other income		23,002		355,155		(332,153	)	-93.52	%		7,681			15,321		199.47	%
Total noninterest income		1,105,999		1,391,758		(285,759	)	-20.53	%		1,036,871			69,128		6.67	%

Noninterest Expense:
Salaries and employee benefits		4,794,940		4,650,704		144,236		3.10	%		4,374,087			420,853		9.62	%
Occupancy and equipment expenses, net		592,165		536,330		55,835		10.41	%		599,714			(7,549	)	-1.26	%
Loss on sales and calls of securities		—		265		(265	)	0.00	%		—			—		0.00	%
Loss on Sales of premises and equipment		—		—		—		0.00	%		54,269			(54,269.0	)	0.00	%
Loss on sales of foreclosed assets		2,065		—		2,065		0.00	%		320,110			(318,045	)	0.00	%
Other expenses		3,752,517		3,860,188		(107,671	)	-2.79	%		3,837,844			(85,327	)	-2.22	%
Total noninterest expense		9,141,687		9,047,487		94,200		1.04	%		9,186,024			(44,337	)	-0.48	%

Income Before Income Taxes		5,710,058		5,641,102		68,956		1.22	%		4,737,339			972,719		20.53	%
Provision for income taxes		263,212		318,723		(55,511	)	17.42	%		244,258			18,954		7.76	%
														–
Net Income	$	5,446,846	$	5,322,379		124,467		2.34	%	$	4,493,081			953,765		21.23	%


Earnings per common share:
Basic	$	0.51	$	0.50		0.01		2.43	%	$	0.42			0.09		21.00	%
Diluted	$	0.51	$	0.50		0.01		2.00	%	$	0.42			0.09		21.43	%

Per share amounts for September 30, 2023 and previous quarters have been adjusted to reflect the April 22, 2024 5-for-1 stock dividend.

	Quarter Ending

	September 30,		June 30,			September 30,
		2024			2024			2023
Dollars in thousand	(Unaudited)		(Unaudited)			(Unaudited)

Per Share Data
Basic Earnings per Common Share	$	0.51		$	0.50		$	0.42
Diluted Earnings per Common Share		0.51			0.50			0.42
Dividends per Common Share		0.092			0.092			0.088
Book Value per Common Share		17.99			17.56			16.37
Tangible Book Value per Common Share		16.97			16.53			15.32

Average Diluted Shared Outstanding		10,602,348			10,611,811			10,582,485
End of Period Common Shares Outstanding		10,596,345			10,605,080			10,582,494


Annualized Performance Ratios (Bank Only)
Return on Average Assets		1.65%			1.73%			1.45%
Return on Average Equity		12.37%			13.12%			11.37%
Equity/Assets		13.23%			13.18%			12.79%
Yield on Earning Assets		6.05%			5.96%			5.48%
Cost of Funds		2.18%			2.16%			1.69%
Net Interest Margin		4.10%			4.02%			3.94%
Efficiency Ratio		58.90%			58.36%			62.24%

Credit Metrics
Allowance for Loan Losses to Total Loans		1.30%			1.30%			1.32%
Adversely Classified Assets to Tier 1 Capital
plus Allowance for Loan Losses		6.15%			6.04%			7.00%

Per share amounts for September 30, 2023 and previous quarters have been adjusted to reflect the April 22, 2024 5-for-1 stock dividend.

The MIL Network –

January 24, 2025

MIL-OSI: Envoy Medical to Present at the LD Micro Main Event XVII

Source: GlobeNewswire (MIL-OSI)

WHITE BEAR LAKE, Minnesota, Oct. 23, 2024 (GLOBE NEWSWIRE) — Envoy Medical®, Inc. (“Envoy Medical”) (NASDAQ: “COCH”), a hearing health company focused on fully implanted hearing systems, today announced that David R. Wells, Chief Financial Officer, will present a corporate overview at the LD Micro Main Event XVII. The conference is being held on October 28 – 30, 2024 at the Luxe Sunset Boulevard Hotel in Los Angeles.

Event: LD Micro Main Event XVII

Presentation Date: Tuesday, October 29, 2024

Time: 12:00 PM Pacific Time

Register to watch presentation: https://me24.sequireevents.com/

Mr. Wells will be available for one-on-one meetings with registered investors of the conference.

About the Esteem® Fully Implanted Active Middle Ear Implant (FI-AMEI)

The Esteem fully implanted active middle ear implant (FI-AMEI) is the only FDA-approved, fully implanted* hearing device for adults diagnosed with moderate to severe sensorineural hearing loss allowing for 24/7 hearing capability using the ear’s natural anatomy. The Esteem FI-AMEI hearing implant is invisible and requires no externally worn components and nothing is placed in the ear canal for it to function. Unlike hearing aids, you never put it on or take it off. You can’t lose it. You don’t clean it. The Esteem FI-AMEI hearing implant offers true 24/7 hearing.

*Once activated, the external Esteem FI-AMEI Personal Programmer is not required for daily use.

Important safety information for the Esteem FI-AMEI can be found at: https://www.envoymedical.com/safety-information.

About the Fully Implanted Acclaim® Cochlear Implant

We believe the fully implanted Acclaim Cochlear Implant (“Acclaim CI”) will be a first-of-its-kind fully implanted cochlear implant. Envoy Medical’s fully implanted technology includes a sensor designed to leverage the natural anatomy of the ear instead of a microphone to capture sound.

The Acclaim CI is designed to address severe to profound sensorineural hearing loss that is not adequately addressed by hearing aids. The Acclaim CI is expected to be indicated for adults who have been deemed adequate candidates by a qualified physician.

The Acclaim Cochlear Implant received the Breakthrough Device Designation from the U.S. Food and Drug Administration (FDA) in 2019. We believe the Acclaim CI was the first hearing-focused device to receive Breakthrough Device Designation.

CAUTION The fully implanted Acclaim Cochlear Implant is an investigational device. Limited by Federal (or United States) law to investigational use.

Additional Information and Where to Find It

Copies of the documents filed by Envoy Medical with the SEC may be obtained free of charge at the SEC’s website at http://www.sec.gov.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-Looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking. Such statements may include, but are not limited to, statements regarding the expectations of Envoy Medical concerning the outlook for its business, productivity, plans and goals for future operational improvements and capital investments; the future market trading performance of our Class A Common Stock; the future size of the market for our products; the performance and benefits of our products in comparison to competitor products; the benefits of intellectual property developed by Envoy; the potential for passage of legislation related to reimbursement for active middle ear hearing devices; the impact that such proposed legislation might have on the hearing health market, reimbursement for the Esteem FI-AMEI device, and the Envoy Medical business; and future market conditions or economic performance, as well as any information concerning possible or assumed future operations of Envoy Medical. The forward-looking statements contained in this press release reflect Envoy Medical’s current views about future events and are subject to numerous known and unknown risks, uncertainties, assumptions and changes in circumstances that may cause its actual results to differ significantly from those expressed in any forward-looking statement. Envoy Medical does not guarantee that the events described will happen as described (or that they will happen at all). These forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to changes in the market price of shares of Envoy Medical’s Class A Common Stock; changes in or removal of Envoy Medical’s shares inclusion in any index; Envoy Medical’s success in retaining or recruiting, or changes required in, its officers, key employees or directors; unpredictability in the medical device industry, the regulatory process to approve medical devices, and the clinical development process of Envoy Medical products; competition in the medical device industry, and the failure to introduce new products and services in a timely manner or at competitive prices to compete successfully against competitors; disruptions in relationships with Envoy Medical’s suppliers, or disruptions in Envoy Medical’s own production capabilities for some of the key components and materials of its products; changes in the need for capital and the availability of financing and capital to fund these needs; changes in interest rates or rates of inflation; legal, regulatory and other proceedings could be costly and time-consuming to defend; changes in applicable laws or regulations, or the application thereof on Envoy Medical; a loss of any of Envoy Medical’s key intellectual property rights or failure to adequately protect intellectual property rights; the effects of catastrophic events, including war, terrorism and other international conflicts; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward Looking Statements” in the Annual Report on Form 10-K filed by Envoy Medical on April 1, 2024, and in other reports Envoy Medical files, with the SEC. If any of these risks materialize or Envoy Medical’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. While forward-looking statements reflect Envoy Medical’s good faith beliefs, they are not guarantees of future performance. Envoy Medical disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. You should not place undue reliance on any forward-looking statements, which are based only on information currently available to Envoy Medical.

###

Investor Contact:

CORE IR
516-222-2560
investorrelations@envoymedical.com

The MIL Network –

January 24, 2025
MIL-OSI: Music Licensing, Inc. (OTC: SONG) Corrects ROI to 110.43% on 30-Year Royalty Stream Deal Involving Works by Miley Cyrus, Elton John, Lil Nas X, and XXXTENTACION, While Retaining Lifetime Ownership Rights
Source: GlobeNewswire (MIL-OSI)

Naples, FL, Oct. 23, 2024 (GLOBE NEWSWIRE) — Music Licensing, Inc. (OTC: SONG), a leader in the acquisition and management of music royalties, is issuing a correction regarding the financial performance of its recent sale of a 30-year royalty stream, which includes works by major artists such as Miley Cyrus, Elton John, Lil Nas X, and XXXTENTACION. The company initially reported a return on investment (ROI) of 106.04%. Upon recalculation, the correct ROI is 110.43%, following the receipt of additional royalty payments.

Music Licensing, Inc. has received royalty payments totaling $36,489 USD since acquiring the rights to these works on November 23, 2023, alongside $140,200 USD generated from the sale of the 30-year royalty stream. With an initial acquisition cost of $160,000 USD, the company’s recalculated ROI demonstrates even stronger financial performance from this strategic investment.

Works Included in the Transaction:
- Miley Cyrus: “Unholy”
- Elton John & Lil Nas X: “ONE OF ME”
- Halsey: “clementine”
- Halsey: “Honey”
- Halsey: “Honey (John Cunningham Demo)”
- Lauv: “I (Don’t) Have A Problem”
- XXXTENTACION: “Kill My Vibe”
- Lil Nas X: “LIFE AFTER SALEM”
- Lil Wayne & XXXTENTACION: “School Shooters”
- XXXTENTACION: “THE ONLY TIME I FEEL ALIVE”
- 347aidan: “what i think about”
- Halsey: “wipe your tears”
- Halsey: “Lilith”
Transaction Highlights:
- Total Revenue from Sale: $140,200 USD from the sale of the 30-year royalty stream.
- Royalties Already Received: $36,489 USD in royalty payments since acquisition.
- Initial Investment: The company acquired the rights to these works for $160,000 USD on November 23, 2023.
- Total ROI: Including both the royalty stream sale and royalties received, Music Licensing, Inc. has achieved a 110.43% ROI.
Benefits to Shareholders:

This transaction continues to demonstrate Music Licensing, Inc.’s ability to generate immediate returns while preserving future revenue potential. By monetizing a portion of future royalties, the company has not only realized significant returns but also retains ownership of these valuable assets for future revenue beyond the 30-year royalty stream. This strategic approach ensures that shareholders benefit from both short-term gains and long-term value creation.

About Music Licensing, Inc. (OTC: SONG) (ProMusicRights.com)

Music Licensing, Inc. (OTC: SONG), also known as Pro Music Rights, is a diversified holding company and the fifth public performance rights organization (PRO) formed in the United States. Its licensees include notable companies such as TikTok, iHeart Media, Triller, Napster, 7Digital, Vevo, and many others. Pro Music Rights holds an estimated market share of 7.4% in the United States, representing over 2,500,000 works by notable artists such as A$AP Rocky, Wiz Khalifa, Pharrell, Young Jeezy, Juelz Santana, Lil Yachty, MoneyBagg Yo, Larry June, Trae Pound, Sauce Walka, Trae Tha Truth, Sosamann, Soulja Boy, Lex Luger, Trauma Tone, Lud Foe, SlowBucks, Gunplay, OG Maco, Rich The Kid, Fat Trel, Young Scooter, Nipsey Hussle, Famous Dex, Boosie Badazz, Shy Glizzy, 2 Chainz, Migos, Gucci Mane, Young Dolph, Trinidad James, Chingy, Lil Gnar, 3OhBlack, Curren$y, Fall Out Boy, Money Man, Dej Loaf, Lil Uzi Vert, and countless others, as well as artificial intelligence (A.I.) created music.

Additionally, Music Licensing, Inc. (OTC: SONG) owns royalty stakes in Listerine “Mouthwash” Antiseptic and musical works by artists such as The Weeknd, Justin Bieber, Kanye West, Elton John, Mike Posner, blackbear, Lil Nas X, Lil Yachty, DaBaby, Stunna 4 Vegas, Miley Cyrus, Lil Wayne, XXXTentacion, Jeremih, Ty Dolla $ign, Eric Bellinger, Ne-Yo, MoneyBagg Yo, Halsey, Desiigner, DaniLeigh, Rihanna, and numerous others.

Forward-Looking Statements:

This press release contains certain 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, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Music Licensing, Inc. & Pro Music Rights, Inc. to accomplish its stated plan of business. Music Licensing, Inc. & Pro Music Rights, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by Pro Music Rights, Inc., Music Licensing, Inc., or any other person.

Non-Legal Advice Disclosure:

This press release does not constitute legal advice, and readers are advised to seek legal counsel for any legal matters or questions related to the content herein.

Non-Investment Advice Disclosure:

This communication is intended solely for informational purposes and does not in any way imply or constitute a recommendation or solicitation for the purchase or sale of any securities, commodities, bonds, options, derivatives, or any other investment products. Any decisions related to investments should be made after thorough research and consultation with a qualified financial advisor or professional. We assume no liability for any actions taken or not taken based on the information provided in this communication.

Contact: investors@ProMusicRights.com / ssmith@smallcapvoice.com

SOURCE: Music Licensing, Inc.

The MIL Network –
January 24, 2025
MIL-OSI: Westport to Issue Q3 2024 Financial Results on November 12, 2024

Source: GlobeNewswire (MIL-OSI)

VANCOUVER, British Columbia, Oct. 23, 2024 (GLOBE NEWSWIRE) — Westport Fuel Systems Inc. (TSX: WPRT / Nasdaq: WPRT) (“Westport” or “The Company”) announces that the Company will release financial results for the third quarter of 2024 on Tuesday, November 12, 2024, after market close. A conference call and webcast to discuss the financial results and other corporate developments will be held on Wednesday, November 13, 2024.

Time: 10:00 a.m. ET (7:00 a.m. PT)
Call Link: https://register.vevent.com/register/BI0e453d34cd1c4f7da856b4eec14f0d4c
Webcast: https://investors.wfsinc.com

Participants may register up to 60 minutes before the event by clicking on the call link and completing the online registration form. Upon registration, the user will receive dial-in info and a unique PIN, along with an email confirming the details.

The webcast will be archived on Westport’s website and a replay will be available at https://investors.wfsinc.com.

About Westport Fuel Systems
At Westport Fuel Systems, we are driving innovation to power a cleaner tomorrow. We are a leading supplier of advanced fuel delivery components and systems for clean, low-carbon fuels such as natural gas, renewable natural gas, propane, and hydrogen to the global transportation industry. Our technology delivers the performance and fuel efficiency required by transportation applications and the environmental benefits that address climate change and urban air quality challenges. Headquartered in Vancouver, Canada, with operations in Europe, Asia, North America, and South America, we serve our customers in more than 70 countries with leading global transportation brands. At Westport Fuel Systems, we think ahead. For more information, visit http://www.wfsinc.com.

Investor Inquiries:
Investor Relations
T: +1 604-718-2046
E: invest@wfsinc.com

The MIL Network –

January 24, 2025
MIL-OSI: Clinical ink Announces the Promotion of John Pappadakis to Chief Commercial Officer and Megan Petrylak to Chief Operating Officer

Source: GlobeNewswire (MIL-OSI)

Winston Salem, NC, Oct. 23, 2024 (GLOBE NEWSWIRE) — Clinical ink, a global life science technology company, announces the promotion of John Pappadakis from EVP, Global Business Development to Chief Commercial Officer and Megan Petrylak from EVP, Clinical Operations to Chief Operating Officer. Jonathan Goldman MD, CEO of Clinical ink commented: “I am delighted to announce the promotion of two of our most seasoned and experienced executives. With John Pappadakis as CCO, and Megan Petrylak as COO, Clinical ink has the ideal leadership team to drive us to the next phase of growth. Our unwavering focus on quality and innovation make us the partner of choice for our biopharmaceutical partners and the patients they serve.”

John Pappadakis, Chief Commercial Officer

John Pappadakis has 34 years of experience in sales and marketing leadership roles within the pharma industry. His career includes commercial and R&D positions at Oracle and IMS Health, following positions of increasing seniority at Pfizer and Parke-Davis where he launched over 30 new molecular entities.

As Clinical ink’s EVP, Global Business Development, John devised an innovative go-to-market strategy centered around the addition of scientific and medical expertise, and the incorporation of new FDA requirements into the Clinical ink technology platform. His vision inspired the creation of the company’s newest integrated cardiometabolic product, GlucoseReady™. Under his leadership, the company recruited a world-class commercial team and demonstrated record levels of key BD metrics.

As Chief Commercial Officer, John will further diversify Clinical ink’s customer base with the addition of new large, medium and small biopharmaceutical companies, whilst solidifying the company’s CRO relationships and other industry alliances. His plans include the deepening of the therapeutic area focus on cardiometabolic, CNS, immunology and oncology, the introduction of an end-to-end decentralized/digital health platform centered around eCOA and EDCXtra™, as well as new licensing-based business models. Moving forward, John will be announcing novel and transformative AI-driven clinical trial innovations.

Megan Petrylak, Chief Operating Officer

Megan Petrylak has over 14 years of clinical trial experience in senior operational leadership roles. She has particularly focused on driving successful outcomes in phase 1-3 clinical trials for a wide range of global biopharmaceutical and CRO customers. Prior to her 6 year tenure at Clinical ink, Megan served as Director of Project Delivery at Worldwide Clinical Trials. Prior to that role, she headed Bioclinica’s centers for imaging and eClinical project management.

As EVP, Clinical Operations, Megan oversaw Clinical ink’s entire customer, site, and patient-facing operations function. She augmented the team with deep expertise in data management and data quality, mandating a quality-first culture. This resulted in impressive increases in customer satisfaction, complemented by significant reductions in all study build and execution metrics and excellent quality outcomes. In addition, Megan’s team successfully launched new products including GlucoseReady™ and EDCXtra™ and has developed a range of industry partnerships including TransPerfect for translations and eClinical Solutions for complex data solutions. Her deep subject matter expertise in eCOA and data management has been recognized at numerous industry consortia and she has served as an expert speaker at meetings such as the Society of Clinical Data Management.

In her new role as Chief Operating Officer, Megan will oversee significant growth in Clinical ink’s revenue, broadening the customer base and expanding the range of integrated solutions. Her plans include upscaling the team to support the planned growth in revenue and margin profile, aided by automation of key operational and data processes. Megan will continue to prioritize quality to drive operational excellence and ensure exceptional delivery to clients.

About Clinical ink

Clinical ink is the global life science company bringing data, technology, and patient-centric research together. Our deep therapeutic-area expertise, coupled with behavioral science, eDC/Direct Data Capture, eCOA, eConsent, telehealth, and digital biomarkers advancement (including the use of Continuous Glucose Monitoring for detection of hypoglycemia), support the next generation of clinical trials and ultimately, the clinical management of patients.

The MIL Network –

January 24, 2025
MIL-OSI: Voters Express Growing Concerns About Deepfake Technology Ahead of 2024 Elections: Global Survey Reveals Rising Fears
Source: GlobeNewswire (MIL-OSI)

RESTON, Va., Oct. 23, 2024 (GLOBE NEWSWIRE) — As the 2024 U.S. elections approach, a new survey by Regula, a global leader in identity verification solutions, reveals growing voter concerns about hyper-realistic fake content. Many respondents worry that deepfakes could manipulate public opinion, undermine trust in the media, and jeopardize the integrity of election results.

Given the evolution of AI-generated content into highly sophisticated tools of deception, voters and institutions feel uncertain about the upcoming wave of fake news.

Image: Regula’s Deepfake Trends study reveals growing fears as deepfakes threaten to distort our perception of reality

Key highlights from the new “Deepfake Trends 2024” survey include:
- 33% of U.S. respondents say the media is most at risk from deepfakes, fearing fake news reports and interviews that could mislead the public.
- 28% of Americans and 34% of Germans worry that deepfakes could directly manipulate political elections, spreading fabricated content designed to influence voter behavior.
- In Mexico, a stunning 48% of people believe their media is vulnerable to deepfake corruption, the highest among surveyed nations.
- The threat isn’t limited to elections—35% of U.S. respondents fear that AI-generated content could disrupt courtrooms with fake evidence, a concern shared by 27% of Germans.
- Interestingly, for Singapore, which recently passed a law banning digitally manipulated content of candidates during elections, the largest concern about deepfakes lies in Healthcare. 35% of respondents worry that deepfakes could impersonate medical professionals or spread false medical advice, potentially leading to harmful health outcomes.
- In the United Arab Emirates, the biggest concern (34% of respondents) is the use of deepfakes to create fake social media posts, messages, or videos, which could damage personal reputations and relationships.
“We’ve reached a tipping point where voters and institutions alike can no longer trust what they see or hear. Deepfakes are becoming so sophisticated that we must equip ourselves with the tools and skills needed to detect and combat this new wave of disinformation. It’s crucial to remember that when overwhelmed by information, we often switch to autopilot, making us more vulnerable to manipulation. That’s why building digital literacy is essential—always question what you see, double-check before sharing, and protect your personal data. Strengthen your online security and stay informed on the latest AI developments—this is how we safeguard ourselves,” says Henry Patishman, Executive VP of Identity Verification Solutions at Regula.

Find more insights on deepfake fraud and businesses in the survey report. Read the full version on our website.

*The research was initiated by Regula and conducted by Sapio Research in August 2024 using an online survey of 575 business decision-makers across the Financial Services (including Traditional Banking and FinTech), Crypto, Technology, Telecommunications, Aviation, Healthcare, and Law Enforcement sectors. The respondent geography included Germany, Mexico, the UAE, the US, and Singapore.

About Regula

Regula is a global developer of forensic devices and identity verification solutions. With our 30+ years of experience in forensic research and the largest library of document templates in the world, we create breakthrough technologies in document and biometric verification. Our hardware and software solutions allow over 1,000 organizations and 80 border control authorities globally to provide top-notch client service without compromising safety, security or speed. Regula was repeatedly named a Representative Vendor in the Gartner^® Market Guide for Identity Verification.

Learn more at http://www.regulaforensics.com.

Contact:

Kristina – ks@regulaforensics.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7fcf6b3b-4ff4-404b-b2be-b36d7925a403

The MIL Network –
January 24, 2025
MIL-OSI: FTC Solar to Supply Approximately 1GW of Projects for Sandhills Energy

Source: GlobeNewswire (MIL-OSI)

AUSTIN, Texas, Oct. 23, 2024 (GLOBE NEWSWIRE) — FTC Solar, Inc. (Nasdaq: FTCI), a leading provider of solar tracker systems, and Sandhills Energy (“Sandhills”) announced today that FTC will be supplying its innovative 1P Pioneer trackers for 1 gigawatt of projects over three sites.

The projects include a 448-megawatt project in Burt County, Nebraska, a 320-megawatt project in Cass County, Nebraska, both about 50 miles outside of Omaha, and the previously announced 225-megawatt project in Butler County, Nebraska.

“We’re pleased to have selected FTC Solar for these key projects, based on their innovative and differentiated 1P tracker technology and strong support of our objectives,” said Eric Johnson, President of Sandhills Energy. “The high-density design is a major benefit for our projects. These three projects are expected to be among the largest to be built in Nebraska, supporting the growth of renewables in our home state. FTC has proven to be a very strong partner for us.”

Yann Brandt, FTC Solar’s President and CEO, commented, “We’re looking forward to supporting these projects with our Pioneer 1P tracker and continuing to grow our relationship with Sandhills Energy. Market interest in Pioneer continues to grow, driven by key features such as its fast assembly time, high energy density, reduced pile count, and shorter embedment depth.”

Tracker delivery in support of these projects is expected to begin in the third quarter of 2025 and continue into the fourth quarter of 2026.

The aggregate value of these projects was included in the contracted portion of the backlog disclosed on August 8, 2024.

About FTC Solar Inc.
Founded in 2017 by a group of renewable energy industry veterans, FTC Solar is a leading provider of solar tracker systems, technology, software, and engineering services. Solar trackers significantly increase energy production at solar power installations by dynamically optimizing solar panel orientation to the sun. FTC Solar’s innovative tracker designs provide compelling performance and reliability, with an industry-leading installation cost-per-watt advantage.

Sandhills Energy, LLC
Sandhills Energy is a renewable energy development company based in Nebraska and Iowa. Founded in 2012, the company has extensive commercial, municipal and utility generation experience from project identification through development, engineering, construction, and operations. Sandhills Energy is rapidly expanding its presence across the Midwest and beyond to support its multi-gigawatt renewables development pipeline.

FTC Solar Investor Contact:
Bill Michalek
Vice President, Investor Relations
FTC Solar
T: (737) 241-8618
E: IR@FTCSolar.com

Sandhills Energy Contact:
Raphael Martinez
Director, Business Relations
Sandhills Energy
T: (219) 895-1028
E: rmartinez@sandhillsenergy.com

Forward-Looking Statements
This press release contains forward looking statements. These statements are not historical facts but rather are based on our current expectations and projections regarding our business, operations and other factors relating thereto. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. In addition, this press release contains statements about third parties and their commercial activity. We have not independently verified or confirmed such statements and have instead relied on the veracity of information as provided to us by such third parties related to such statements. You should not rely on our forward-looking statements or statements related to third parties or their commercial activities as predictions of future events, as actual results may differ materially from those in the forward-looking statements or statements related to third parties or their commercial activities because of several factors, including those described in more detail above and in our filings with the U.S. Securities and Exchange Commission, including the section entitled “Risk Factors” contained therein. FTC Solar undertakes no duty or obligation to update any forward-looking statements or statements related to third parties or their commercial activities contained in this release as a result of new information, future events or changes in its expectations, except as required by law.

The MIL Network –

January 24, 2025
MIL-OSI: 4BIO Capital leads oversubscribed $28.4 million Series A financing of March Biosciences

Source: GlobeNewswire (MIL-OSI)

March Bio is rapidly advancing its innovative autologous chimeric antigen receptor T-cell (CAR-T) therapy, MB-105, in development for the treatment of relapsed and refractory CD5 positive T-cell lymphoma.

Series A was led by 4BIO Capital and Mission BioCapital with participation from KdT Ventures, Alexandria Venture Investments, Volnay Therapeutics, Modi Ventures, and Mansueto Investments.

London, United Kingdom, 23 October 2024 – 4BIO Capital (“4BIO” or “the Group”), an international venture capital firm unlocking the treatments of the future by investing in advanced therapies and other emerging technologies, today announces that it has led a $28.4 million (£21.9 million) Series A Financing round of March Biosciences (“March Bio” or the “Company”).

4BIO led the oversubscribed round alongside Mission BioCapital with participation from new investors KdT Ventures, Alexandria Venture Investments, Volnay Therapeutics, Modi Ventures and Mansueto Investments and existing investors TMC Venture Fund, Cancer Focus Fund and Small Ventures.

Since its inception as a spinout of the Center for Cell and Gene Therapy (Baylor College of Medicine, Houston Methodist Hospital, Texas Children’s Hospital), March Bio has rapidly advanced its innovative autologous chimeric antigen receptor T-cell (CAR-T) therapy, MB-105, in development for the treatment of relapsed and refractory CD5 positive T-cell lymphoma. MB-105 is specifically engineered to overcome major hurdles related to T-cell targeting by overcoming T-cell fratricide while maintaining high potency against CD5 positive tumor cells. MB-105 has demonstrated a favorable safety profile and durable remissions in relapsed T-cell lymphoma patients in a Phase 1 clinical trial at Baylor College of Medicine, with plans to begin a Phase 2 clinical trial in early 2025. Proceeds from the financing will support the Phase 2 clinical development of MB-105 to expand on this data with optimized manufacturing processes.

Owen Smith, Partner of 4BIO Capital, said, “For far too long, T-cell cancers have been an innovation desert with patients facing a dismal prognosis. March Bio’s innovative autologous CAR-T approach brings patients new hope. MB-105 is specifically engineered for relapsed and refractory CD5 positive T-cell lymphomas and I am delighted that this targeted approach combined with the incredible team led by Sarah is moving rapidly into Phase 2 to bring this exciting new treatment to patients. We are honored to be a co-lead investor in March Bio and to help support the company as it continues in its mission to bring transformative therapies to those in urgent need.”

Sarah Hein, Co-Founder and Chief Executive Officer of March Biosciences, added, “This oversubscribed financing enables us to advance our first-in-class CAR-T therapy, MB-105, into a Phase 2 trial for T-cell lymphoma – an indication with an exceptionally poor prognosis and few treatment options. With the support and confidence of 4BIO and all of our investors, we are not only advancing our lead program but also expanding our pipeline, underscoring our commitment to delivering best-in-class therapies to patients that can change the treatment paradigm for these challenging cancers.”

Owen Smith of 4BIO Capital and Cassidy Blundell of Mission BioCapital will be joining March Bio’s Board of Directors. The financing will also provide resources for the ongoing development of undisclosed pipeline products, as well as for general corporate proceeds.

– End –

Contacts

4BIO Capital +44 (0) 203 427 5500
info@4biocapital.com

ICR Consilium
Amber Fennell, Kris Lam, Jonathan Edwards +44 (0)20 3709 5700
4biocapital@consilium-comms.com

About 4BIO Capital

4BIO Capital (“4BIO”) is an international venture capital firm focused on investing in advanced therapies, including genomic medicines and other emerging technologies, to unlock the treatments of the future. 4BIO’s objective is to invest in, support, and grow early-stage companies developing treatments in areas of high unmet medical need, with the ultimate goal of ensuring access to these potentially curative therapies for all patients. Specifically, it looks for viable, high-quality opportunities in cell and gene therapy, RNA-based therapy, targeted therapies, and the microbiome. The 4BIO team comprises leading advanced therapy scientists and experienced life science investors who have collectively published over 250 scientific articles in prestigious academic journals including Nature, The Lancet, Cell, and the New England Journal of Medicine. 4BIO has both an unrivalled network within the advanced therapy sector and a unique understanding of the criteria that define a successful investment opportunity in this space. For more information, connect with us on LinkedIn and X @4biocapital and visit http://www.4biocapital.com.

About March Biosciences

Houston-based March Biosciences, launched from the Center for Cell and Gene Therapy (Baylor College of Medicine, Houston Methodist Hospital, Texas Children’s Hospital), is dedicated to addressing challenging cancers unresponsive to current immunotherapies. Its lead asset, MB-105, is a CD5-targeted CAR-T cell therapy currently in Phase 1 trials in patients with refractory T-cell lymphoma and leukemia, with promising signals of efficacy and safety to date. A Phase 2 trial is expected to begin next early year. The company has raised over $50M to date, inclusive of this current financing and support from the Cancer Prevention & Research Institute of Texas (CPRIT) and the NIH SBIR program. Learn more at http://www.march.bio.

The MIL Network –

January 24, 2025
MIL-OSI Economics: Samsung R&D Institute, Bangalore Sets Up a State-of-the-Art Linguistics Lab focused on Artificial Intelligence and Machine Learning, Jointly with Garden City University, Bangalore

Source: Samsung

Samsung R&D Institute India – Bangalore (SRI-B) has collaborated with Garden City University (GCU), Bangalore to set up a ‘Samsung Student Ecosystem for Engineered Data (SEED) Lab’, providing students and faculty an exciting opportunity to delve into the world of AI/ML and data engineering.

At the lab, students and faculty members of GCU will get hands-on experience through joint projects on emerging cutting-edge tech areas such as Natural Language Understanding, Speech and Text recognition and Machine Learning, with senior engineers at SRI-B.

Samsung has already launched four SEED labs – two each in Karnataka and in Tamil Nadu (VIT- Vellore & VIT- Chennai) earlier, engaging more than 400 students in AI and data-related projects.

“We’re at a time when technology is evolving faster than ever. We are collaborating with the local ecosystem where we strive to develop talent and upskill Indian engineers / linguists, to not only make them industry-ready, but also become the game changers of the future. Our strategic partnership with Garden City University will further advance our efforts and explore new opportunities in creating innovative products for India”, said Mohan Rao Goli, Chief Technology Officer, SRI-B.

The Lab at GCU plans to leverage the capabilities of Linguists in executing AI and Multi-lingual, data-centric projects by building an end-to-end pipeline for data, which includes Text/Speech Data generation in global languages, engineering (curation, labelling, and more), data management and archival.

“Collaboration with industries is crucial for universities to produce the workforce and innovators of the future. Our partnership with Samsung through the SEED (Student Ecosystem for Engineered Data) program aligns perfectly with the ethos of Garden City University. I am confident that this collaboration will greatly benefit our students while also strengthening Samsung’s industry-academia relationships. This marks a significant step forward for both parties”, shared Dr. Joseph V.G., Chancellor, Garden City University.

The SEED Lab, which is a collaborative initiative between SRI-B and GCU for 5 years, is spread across 1,500 sq ft. In its initial phase, the Lab has been equipped with state-of-the-art Infrastructure for the Students to collaborate with Samsung in generating datasets. The lab also has a robust backend infrastructure to store, process, and archive large volumes of data, and can accommodate about 30 people.

MIL OSI Economics –

January 24, 2025
MIL-Evening Report: Kanak leader Christian Tein’s jailing in France overturned in new legal twist

Asia Pacific Report

France’s Supreme Court has overturned a judgment imprisoning pretrial in mainland France Kanak pro-independence leader Christian Tein, who is widely regarded as a political prisoner, reports Libération.

Tein, who is head of the CCAT (Field Action Coordination Unit) in New Caledonia was in August elected president of the main pro-independence umbrella group Kanak and Socialist National Liberation Front (FLNKS).

He has been accused by the French authorities of “masterminding” the violence that spread across New Caledonia in May.

The deadly unrest is estimated to have caused €2.2 billion (NZ$3.6 billion) in infrastructural damage, resulting in the destruction of nearly 800 businesses and about 20,000 job losses.

In this new legal twist, the jailing in mainland France of Tein and another activist, Steve Unë, was ruled “invalid” by the court.

“On Tuesday, October 22, the Court of Cassation in Paris overturned the July 5 ruling of the investigating chamber of the Noumea Court of Appeal, which had confirmed his detention in mainland France,” reports NC la 1ère TV.

“The Kanak independence activist, imprisoned in Mulhouse since June, will soon have to appear before a judge again who will decide his fate,” the report said.

Kanak activists’ cases reviewed
The court examined the appeal of five Kanak pro-independence activists — including Tein – who had challenged their detention in mainland France on suspicion of having played a role in the unrest in New Caledonia, reports RFI News.

This appeal considered in particular “the decision by the judges in Nouméa to exile the defendants without any adversarial debate, and the conditions under which the transfer was carried out,” according to civil rights attorney François Roux, one of the defendants’ lawyers.

“Many of them are fathers, cut off from their children,” the lawyer said.

The transfer of five activists to mainland France at the end of June was organised overnight using a specially chartered plane, according to Nouméa public prosecutor Yves Dupas, who has argued that it was necessary to continue the investigations “in a calm manner”.

Roux has denounced the “inhumane conditions” in which they were transported.

“They were strapped to their seats and handcuffed throughout the transfer, even to go to the toilet, and they were forbidden to speak,” he said.

Left-wing politicians in France have also slammed the conditions of detainees, who they underline were deported more than 17,000 km from their home for resisting “colonial oppression”.

Another legal twist over arrested Kanaks . . . Christian Tein wins Supreme Court appeal. Image: APR screenshot Libération

Total of seven accused
A total of seven activists from the CCAT separatist coalition are accused by the French government of orchestrating deadly riots earlier this year and are currently incarcerated – the five in various prisons in France and two in New Caledonia itself.

They are under investigation for, among other things, complicity in attempted murder, organised gang theft with a weapon, organised gang destruction of another person’s property by a means dangerous to people and participation in a criminal association with a view to planning a crime.

Two CCAT activists who were initially imprisoned have since been placed under house arrest in mainland France.

Tein, born in 1968, has consistently denied having incited violence, claiming to be a political prisoner.

MIL OSI Analysis – EveningReport.nz –

January 24, 2025
MIL-OSI Africa: Quality of life continues to slide in South Africa’s key economic province, Gauteng – new survey

Source: The Conversation – Africa – By Christian Hamann, Researcher, Gauteng City-Region Observatory

The Gauteng City-Region, which has long been South Africa’s economic engine, is in decline. The region contributes about 35% of the country’s total economic output, and is home to more than 15 million people, about 25% of the country’s population of 62 million people.

Many in the province have come from far and wide hoping to “make it” in the land of opportunity. Yet both the media and the public raise critical questions about its future amid decaying infrastructure, poor delivery of basic government services, and a steady uptick in violent crime.

New research from the Gauteng City-Region Observatory (GCRO) reveals that development outcomes in the province are declining. The GCRO is an independent institute that produces research and analysis to inform decision making and policy in the Gauteng City-Region. It is a partnership between the Gauteng provincial government, the University of the Witwatersrand, the University of Johannesburg, and organised local government (Salga-Gauteng).

The GCRO constructs a multidimensional index of wellbeing that combines 33 variables into one measure, known as the Quality of Life Index, from survey data that has been collected every two to three years since 2009.

This includes measures of health, safety, life satisfaction, socio-economic status, public services, satisfaction with government, and social and political participation. The latest index (2023/24) shows that quality of life in Gauteng has fallen to its lowest level ever since the survey began in 2009. This suggests that the wellbeing of many households has been compromised by the complex and interconnected global challenges, known as the polycrisis, that have emerged since the COVID-19 pandemic.

The composition of the GCRO Quality of Life Index. GCRO Quality of Life 7 Survey (2023/24)

Many of these challenges are linked to the local governance crisis, characterised by unstable political party coalitions. The interaction of complex crises amplifies harmful effects, profoundly affecting quality of life.

A governance crisis emerged in South Africa in the wake of state capture, marked by a stark decline in the provision of quality public services. So, the government has struggled to shield citizens from the worst impacts of the polycrisis. Households face an acute convergence of global and local crises, reflected in health, economic instability, societal unrest, climate challenges, and rising safety concerns.

The research

The 7th Quality of Life Survey involved 13,795 adult residents of Gauteng. Respondents were randomly sampled in every ward of the province. Data was collected by a team of fieldworkers from 28 August 2023 to 16 April 2024. The data is made freely available, and is used by government, academics and civil society. The findings inform policy and strategic planning by government entities across the Gauteng City-Region.

The latest survey results paint a complex picture about the quality of life in Gauteng. Some of the most significant findings which relate to the challenges that household face, and the ways people respond to challenges, are highlighted below. The list of crises includes concerns about public service delivery, satisfaction with government, safety, poverty, and overall quality of life.

Unreliable service delivery

Basic services in Gauteng are characterised by interruptions to supply, inadequate coverage and quality problems. While most residents have access to water, electricity, sanitation and refuse removal, satisfaction with these levels has declined substantially since the previous survey in 2020/21.

The latest survey shows that only 61% of respondents were satisfied with their sanitation, only 60% perceived their water as always clean, and only 64% were satisfied with their refuse removal. These are all lower than in the past when satisfaction ranged between 70% and 75%. The impact, for example, is that those who do not have weekly refuse removal are more likely to dump their rubbish in public spaces or burn it – causing various environmental challenges.

Gauteng households use various resources at their disposal to deal with the impacts of unreliable services. For instance, one in seven households (15%) are now generating some or all their own electricity, compared to 4% in 2017/18. This is partly related to the unreliability of electricity provision, and growing efforts to gain independence from the “grid”. But the unreliability and cost of electricity have varied impacts, depending on household income.

Declining satisfaction with government

Only a fifth (21%) of respondents were satisfied with the performance of the national government. A similar proportion (22%) of respondents were satisfied with the performance of provincial and local governments. Satisfaction for all these spheres has declined by between 15 and 20 percentage points since 2017/18.

The effect of dissatisfaction with government is increasing disengagement. Just over half of respondents (54%) felt that politics was a waste of time, and 57% said that South Africa was a failed state. When the survey was conducted, before the 2024 provincial elections, 21% of respondents said they were not planning to vote. Thus, government dissatisfaction and disengagement helps to understand the low voter turnout during the elections.

Poverty

While poverty rates measured in 2023/24 have improved from their peak during the pandemic, the recovery is partial. Sixteen percent of respondents lived below the food poverty line of R760 per month (about US$43). This remains higher than pre-pandemic levels (it was 12% in 2017/18). It shows that a large portion of Gauteng’s households have struggled to meet their basic needs for a long time.

South Africa’s welfare systems remain a lifeline for many households. The proportion of respondents that benefited from any kind of social grant (including child support and old age pensions has increased steadily from 30% in 2011 to just over 50% in 2023/24.

Low-income households are also less likely to recover from shocks because they lack financial safety nets, and cannot afford to replace public services with costly private alternatives.

Safety concerns

Another kind of problem experienced by respondents is insecurity as a result of crime and violence. A fifth of respondents (21%) said that they had been the victim of crime in the last year. This was a two percentage point increase from 2020/21, when lockdowns reduced crime levels. The proportion of respondents who said that the crime situation had worsened was also higher (increasing from 43% in 2020/21 to 48% in 2023/24).

Much larger proportions of respondents felt unsafe in their homes, and when walking in their neighbourhood in the daytime or at night. For example, in 2023/24, 81% of respondents felt unsafe walking in their area at night, compared to 75% in 2020/21. The effect is that 62% of respondents in 2023/24 were dissatisfied with the security services provided by the government, compared to 54% in 2020/21.

Overall quality of life is lower

Overall, in the latest index quality of life reached its lowest point yet since the index was first calculated. The 2023/24 value was calculated at 59.5 out of 100, compared to 61.4 in 2020/21 and a high of 63.9 in 2017/18.

GCRO Quality of Life Index changes over time. GCRO Quality of Life 7 Survey (2023/24)

Most of the dimensions declined, suggesting that the wellbeing of many households has been adversely affected by the interplay between the governance crisis and the polycrisis. Households’ ability to navigate these challenges is strongly shaped by inequality, which remains very high.

The 2023/24 quality of life report shows that the Gauteng City-Region grapples with a series of wicked problems. Public and private sector leaders, along with civil society, need to assess the current situation and collaborate on innovative solutions to enhance the quality of life of all residents in the City-Region.

Shannon Arnold, a junior researcher at the Gauteng City-Region Observatory, contributed to the research and this article.

– Quality of life continues to slide in South Africa’s key economic province, Gauteng – new survey
– https://theconversation.com/quality-of-life-continues-to-slide-in-south-africas-key-economic-province-gauteng-new-survey-241714

MIL OSI Africa –

January 24, 2025
MIL-OSI China: Chinese high-tech zones collaborate to boost AI industry innovation

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

BEIJING, Oct. 23 — Eleven major high-tech zones in China have jointly established a collaborative network to promote innovation in the country’s AI industry, China Science Daily has reported.

A conference on the establishment of this network held early this week in Beijing revealed that the newly-founded network features 11 major high-tech zones nationwide, including Beijing’s Zhongguancun, also dubbed China’s “Silicon Valley,” and those in the cities of Shanghai, Nanjing, Suzhou, Hangzhou, Hefei, Qingdao, Wuhan, Shenzhen, Chengdu and Xi’an, according to the report published on Tuesday.

Wu Jiaxi, deputy director of the planning department of the Ministry of Industry and Information Technology, expressed hope that the collaborative innovation network would cultivate fertile ground for AI innovation in China — via an open and inclusive approach.

High-tech zones are the core carriers and major hubs for AI development in China, and they have become a significant force in AI innovation, said Wu.

He also emphasized the importance of building a community for AI innovation and development through shared benefits, as well as deepening the domestic AI industry layout through an innovation-driven model.

During the conference, network participants announced the Zhongguancun Initiative, which aims to accelerate the development of AI technologies in areas such as chips, algorithms and models.

The Zhongguancun Initiative also seeks to establish a comprehensive innovation and entrepreneurship service system for the entire AI industry chain and to build mechanisms for the exchange of technology, industry, capital and talent.

The initiative encourages the establishment of open AI platforms to maximize the sharing of AI development achievements and seeks the active participation of high-tech zones in the formulation of international and national standards.

Furthermore, it emphasizes the importance of strengthening data security and privacy protection, as well as providing regular supervision and regulatory services for AI platform companies, to ensure the traceability and reliability of AI technologies.

MIL OSI China News –

January 24, 2025
MIL-OSI China: Over 15,000 charity organizations registered in China

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

BEIJING, Oct. 23 — China has over 15,000 registered charity organizations, a three-fold increase compared to five years ago, the country’s Ministry of Civil Affairs announced Wednesday.

A total of 2,062 charitable trusts have been registered with the government, 15 times the figure from five years ago, the ministry said at a press conference.

From 2018 to 2020, the critical period of China’s poverty eradication campaign, the country’s charity organizations spent approximately 50 billion yuan (about 7 billion U.S. dollars) annually on poverty alleviation, especially on supporting people living in poverty in the country’s less-developed areas, according to the ministry.

Since 2023, nearly 6 billion yuan worth of charitable donations have been raised to aid people affected by earthquakes, floods and other natural disasters across the country, the ministry said.

MIL OSI China News –

January 24, 2025
MIL-OSI China: China to formulate action plan for manufacturing industry’s green, low-carbon development

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

China to formulate action plan for manufacturing industry’s green, low-carbon development

BEIJING, Oct. 23 — China’s Ministry of Industry and Information Technology (MIIT) will formulate an action plan for green and low-carbon development of the manufacturing industry, a spokesperson said Wednesday.

The move aims to promote comprehensive green transformation in economic and social development, Tao Qing, spokesperson of the MIIT, told a press conference held by the State Council Information Office.

The MIIT will also continue to promote research, development, innovation and industrialization of key technologies in the fields of integrated circuits, industrial software, artificial intelligence and satellite internet, and cultivate and develop emerging industries and future-oriented industries, said Tao.

The ministry will expedite the cultivation of leading enterprises in the industrial ecosystem and improve the whole-cycle cultivation system for small and medium-sized enterprises that feature specialization, refinement, uniqueness and innovation.

The spokesperson also highlighted establishing a national system for nurturing unicorn enterprises — and nurturing a group of quality enterprises specializing in digital economy.

Zhao Zhiguo, the MIIT’s chief engineer, said at the same press conference that the ministry will cultivate and promote the low-altitude economy, accelerating the development of low-altitude logistics, urban and intercity air transportation, and the low-altitude cultural and tourism industries.

MIL OSI China News –

January 24, 2025
MIL-OSI China: Xi advocates high quality development of greater BRICS cooperation

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

KAZAN, Russia, Oct. 23 — Chinese President Xi Jinping on Wednesday called on BRICS countries to work for high quality development of greater BRICS cooperation.

In a speech addressing the 16th BRICS Summit, Xi said the ongoing BRICS summit has decided to invite a number of nations to become partner countries. He hailed the decision as another important development in the course of BRICS development.

Xi called on BRICS members to build the multilateral mechanism into a major venue of solidarity and cooperation for the Global South and a vanguard force for global governance reform.

He called on the BRICS members to build BRICS for peace and act as guardians of common security, urging the BRICS countries to uphold the three principles of no expansion of the battlefield, no escalation of fighting and no provocation by any party, to work for de-escalation of the Ukraine crisis as soon as possible.

Xi called on the BRICS members to build BRICS for innovation and act as pioneers for high-quality development.

He called on BRICS members to build green BRICS and be practitioners of sustainable development, noting that China is willing to leverage its own advantages to expand cooperation with BRICS countries in green industries, clean energy and green minerals.

Xi also called for building a BRICS for justice and leading the reform of the global governance system, calling on BRICS members to conform to the general trend of the rise of the Global South, and actively respond to the call of countries to join the BRICS cooperation mechanism.

The group should advance the process of expanding membership and establishing partner countries, and enhance the representation and voice of developing countries in global governance, said Xi.

Xi said the urgency of reforming the international financial architecture is becoming increasingly prominent in the current situation.

He also called for strengthening the New Development Bank and urged BRICS countries to take the lead in promoting a better alignment of the international financial system with the changing dynamics of the global economy.

Xi urged BRICS countries to advocate peaceful coexistence and harmony between civilizations.

China will establish 10 overseas learning centers in BRICS countries in the next five years to provide training opportunities for 1,000 education administrators, teachers and students, he said.

MIL OSI China News –

January 24, 2025
MIL-OSI Global: Liam Payne: the death of a favourite celebrity can be painful – but collective grief can help
Source: The Conversation – UK – By Sam Carr, Reader in Education with Psychology and Centre for Death and Society, University of Bath

One of my (Sam’s) earliest memories is from 1980, when John Lennon was tragically assassinated. I vividly recall my mother’s reaction upon hearing the news – she put down the phone, overwhelmed with grief.

Her connection to Lennon, someone she’d never met, was deeply personal. This moment, even though I was only three years old, left a lasting impression and showed me how profound these attachments can be. For my mother, Lennon wasn’t just a famous figure. He represented a significant part of her life and emotions.

If you’re a One Direction fan, you may be feeling a similar kind of grief over the tragic death of band member Liam Payne. Some fans have described Payne’s loss as akin to “losing a family member” or feeling like they’ve “lost a big part of their childhood”.

This collective mourning illustrates how deeply ingrained celebrities can become in our lives, not just as entertainers, but as symbols of our personal experiences and memories.

Olivia, 23, tried to describe her sense of loss to a BBC reporter:

It was my first feeling of being in love, my first feeling of crushing on a boy, of being excited about boys. I kissed the posters every night. We all did. It felt like you were part of the best club in the world and it’s a huge part of why we bonded together.

This form of attachment is known as a parasocial relationship, an emotional connection formed with someone who is unaware of the bond. Unlike personal relationships, where both parties contribute to the connection, parasocial relationships allow fans to project idealised traits onto celebrities, unchallenged by reality.

In this way, celebrities often represent aspirational versions of ourselves or embody significant aspects of our identity. When they die, the emotional experience of grief is not just about the person, but about losing part of that imagined connection.

No one’s 20s and 30s look the same. You might be saving for a mortgage or just struggling to pay rent. You could be swiping dating apps, or trying to understand childcare. No matter your current challenges, our Quarter Life series has articles to share in the group chat, or just to remind you that you’re not alone.

Read more from Quarter Life:
The death of a beloved celebrity shatters something that feels deeply meaningful, and can leave you grappling with an emotional void. The loss is not just of a public figure, but of a personal connection that may have shaped your identity and sense of belonging.

This profound sense of grief is often also shared. Following Payne’s sudden death, fans have gathered worldwide, from the UK to the Philippines and Argentina, to sing and mourn at vigils for the star. A similar phenomenon was also observed in September, when Harry Potter fans raised wands at the Wizarding World of Harry Potter theme park in Orlando. They were paying tribute to Maggie Smith, who played the popular character Professor McGonagall in the Harry Potter films, following her death aged 89.

Collective grief is a common reaction when an influential figure dies. These shared acts of mourning are not only socially significant but also have the power to foster empathy, transforming collective pain and public emotion into meaningful memories of social solidarity and communal strength.

While fans will mourn their star regardless of age, there’s a stark contrast between the deaths of Smith and Payne. Smith’s passing is generally viewed as a “good” death, marking the end of “a true legend”, while Payne’s death at 31 is seen as “a bad, sad ending”. The way that we grieve celebrities is often connected to their age. When Black Panther star Chadwick Boseman died in 2020 aged 43, it shattered many fans’ sense of hope for the future.

For many Payne fans, the singer was their “first love”. Falling in love with celebrities, as psychoanalysts like Aldo Carotenuto have argued, elicits a projection of idealised fantasy that becomes interwoven with our vision of the future. This temporal aspect of fandom is rooted in our sense of narrative identity, through which we view life as a continuing book. The death of a young star can powerfully disrupt this plot and leave you grappling with an unresolved chapter in your own story.

One Direction fans often call themselves “directioners”. Losing a core member of the group has led some directioners to feel this identity is now threatened or altered. The disruption to your sense of identity following the death of a young celebrity that you grew up alongside can be profound. It signifies not only the loss of a cherished part of your past but also serves as a painful reminder of the passage of time and the fragility of life.

This reality can force you to confront your own mortality, highlighting the finite nature of existence. In times of collective mourning, people reflect on their own lives and aspirations while cherishing the memories and legacies of those they admired.

Moving forward without them

Despite the deep pain of grieving, fans often engage in what grief experts call “continuing bonds” – an effort to maintain a connection with the celebrity through memories, tributes or ongoing engagement with their work.

This bond helps to reestablish a sense of order, providing emotional continuity even in the face of loss. The bonds we form with celebrities are often more meaningful than they first appear. Sociologist Jackie Stacey has examined how memories tied to celebrities can profoundly shape and sustain a sense of meaning throughout our lives.

From a life course perspective, early experiences with a favourite star can become deeply embedded in your identity, acting as enduring sources of comfort, inspiration and self-expression.

Though his life has been cut short, the memories and inspiration Payne provided will continue to live on among his fans. As directioners gathered outside the Buenos Aires hotel where he passed away, they sang One Direction songs, including the poignant line: “This is not the end.”

The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. Liam Payne: the death of a favourite celebrity can be painful – but collective grief can help – https://theconversation.com/liam-payne-the-death-of-a-favourite-celebrity-can-be-painful-but-collective-grief-can-help-242039
MIL OSI – Global Reports –
January 24, 2025
MIL-OSI Global: How different people around the world understand democracy – and why it matters

Source: The Conversation – UK – By Scott Williamson, Associate Professor, Department of Politics and International Relations, University of Oxford

Most people in most countries say they want to be governed democratically. Because democracy’s appeal is so powerful, governments and political leaders everywhere claim to be supporters of democracy.

Take China, for instance. The Chinese Communist Party (CCP) has ruled for decades under a single-party system, a system that contrasts sharply with traditional definitions of democracy. Democratic systems emphasise competitive elections for key leaders, strong protections for political rights and constraints on executive power.

Yet, ask members of the CCP and they will probably tell you that their governance is democratic because it responds to the preferences of the Chinese public. In their view, what makes a democracy is not elections, liberties and constraints. Rather, strong and unencumbered political leaders can govern well and give the people what they want.

How do people understand democracy? If people around the world hold dramatically different views of what democracy means – or even adhere to understandings of democracy that reflect a more authoritarian style of government – then democracy’s apparent global appeal may not mean very much in practice.

Researchers have long been interested in how people from different countries and backgrounds understand democracy. But it’s a complex issue and previous studies have found it difficult to determine what people really mean when they say they want to be governed democratically. In a new article published in Science, we use an experiment administered via surveys in Egypt, India, Italy, Japan, Thailand and the US to bring fresh evidence to this debate.

We presented survey respondents with paired profiles of hypothetical countries. These profiles randomised nine factors reflecting different theories of how people understand democracy. For instance, we presented respondents with information about the countries’ elections, varying whether they were free and fair, biased, or not held at all.

We also randomised whether political rights were protected or repressed, and whether the executive respected the powers of the legislature and courts or not. These three attributes reflect traditional concepts of democracy.

We also included attributes of the hypothetical countries that reflect alternative understandings of democracy. Some claim that democracy means a political system capable of producing substantial changes that benefit citizens broadly. So we varied whether economic equality in the country is higher or lower. We also adjusted whether social equality between genders is better or worse. And we randomised how much influence technocratic experts wield over policy decisions.

Others argue for a more authoritarian model of democracy in which unconstrained leaders give the people what they want in exchange for their obedience. To reflect this view, we gave information about how often the countries’ political leaders follow the majority’s preferences. We also varied whether people obey the government or not.

After reviewing the country profiles, respondents were asked to determine which hypothetical country was more democratic. Analysing which attributes influenced respondents’ choices more strongly gives us insights into how they understand what democracy means.

Reasons to be cheerful

Our results indicate that the traditional definition of democracy is widely accepted. Across the six diverse countries in our sample, respondents were much more likely to perceive countries as democratic when elections were free and fair and political rights were strongly protected.

This prioritisation of elections held across the board. People felt that way regardless of their individual characteristics such as gender, educational attainment, political ideology, age, minority status and attitudes toward geopolitics.

This finding implies some reasons to be optimistic about support for democracy. It suggests that when people say they want democratic governance, many mean competitive elections and protected liberties. This agreement is important. It makes it more likely that enough people will recognise – and potentially push back – against attempts by anti-democratic political leaders to subvert democratic governance.

Reasons for caution

But our findings also highlight points of caution. First, institutional checks and balances were less central to how our respondents understood democracy. This suggests that political leaders may be able to increase their grip on power more easily by undermining the influence of the legislature and courts.

And anti-democratic politicians can still claim to be democratic by deceptively arguing that they prioritise these elements of the political system, while actually undermining them. A prominent example is former US president Donald Trump. In 2020, Trump tried to overturn his election loss by falsely asserting it had been rigged against him.

Even in outright authoritarian countries, rulers often use controlled elections as “evidence” of their democratic character. In Egypt, for instance, the autocratic president Abdel Fatah al-Sisi declared after winning his rigged 2023 election that he would continue to build “a democratic state that protects its citizens”.

Many people may see through such claims, but autocrats can sometimes build support by using elections to present themselves as democrats – even when they are not free and fair.

While many people reject outright authoritarian notions of what democracy means, factors other than elections and liberties also influence their understanding of democratic governance. In our study, countries were often believed to be more democratic when they delivered good outcomes – for example, by providing higher gender or economic equality.

Gender equality was the only attribute in the experiment which came close to elections and liberties in its ability to shape perceptions of which countries were more democratic. Because gender equality is inherently desirable and is associated with democracy, some autocrats have successfully engaged in “genderwashing”. They’ve done this by (often nominally) reforming women’s rights to reduce pressure for more competitive elections and protected political rights.

Finally, just because people generally agree on what democracy means does not necessarily mean they will continue to support it. If democracies fail to perform effectively or represent their citizens well, people may be persuaded to accept more authoritarian models of governance.

The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. How different people around the world understand democracy – and why it matters – https://theconversation.com/how-different-people-around-the-world-understand-democracy-and-why-it-matters-241617

MIL OSI – Global Reports –

January 24, 2025
MIL-OSI Global: How advertising jingles influence our buying choices (and why we can still sing them decades later)

Source: The Conversation – UK – By Kelly Jakubowski, Associate Professor in Music Psychology, Durham University

Matthew Nichols1/Shutterstock

Even if we haven’t heard them for many years, familiar songs often stick with us for life. We can often recall every lyric to songs we learned as kids or albums we idolised as teenagers. But beyond music we’ve purposely chosen to listen to or learn, one type of music seems to stick with us without any effort: the jingle.

Jingles have a long history in the advertising industry. The first known radio jingle in the UK – Have You Tried Wheaties? – was launched in 1926. Jingles have since become a major feature of our everyday lives.

Recent market research found that several of the ten most recognisable jingles for UK adults dated back three or even four decades. While comparison site Go Compare topped the list, Mars’ “work, rest and play” jingle (axed in the mid-1990s) and even Shake ‘n’ Vac “put the freshness back” (1980) are still buzzing about in the heads of those polled.

So why do these songs stick with us? And what effect does this have on what we buy?

Jingles become memorable in different ways. Some advertisers use familiar songs, which are inherently easier to remember, in a new context. For instance, the Go Compare jingle uses the traditional song Over There and couples it with the comic visual element of an over-the-top opera singer. The “Just one Cornetto” campaign (launched in 1981) similarly takes a classical melody (O sole mio) and tweaks it to sell ice cream.

Other jingles make use of musical elements that make them likely to become “earworms” – those tunes that get stuck in our heads whether we like them or not. In research examining a large collection of pop music, my team found that songs that were likely to become earworms had upbeat tempos, often in the range that would make a person want to dance along. Many jingles, such as “Do the Shake ‘n’ Vac” and “I feel like Chicken Tonight” fit this pattern.

Indeed, other research has shown that when people either move or sing along to catchy songs, they are more likely to subsequently experience these songs as earworms. It has also been found that having an earworm for a song you have recently learned means you will remember that song better later on.

Lyrics can also play an important role in the memorability of a song or product. The alliterative lyrics of “Maybe it’s Maybelline” ensure that even a consumer who has never heard of this brand will easily recall its name the next time they are in the shop.

Links to other times in our life

It’s not just features of the music that give jingles such a stronghold in our memories. Music tends to be closely associated with the contexts in which we’ve heard it. That is, it often becomes closely entwined with autobiographical memories from our lives.

Hearing a jingle from our childhood can therefore bring back memories not just of hearing that song, but the living room we grew up in, and the feeling of sitting around the TV with family watching together. Jingles therefore can be a strong trigger of nostalgia.

Research has shown that the period when we are around ten to 25 years old tends to be remembered most vividly. Music cues are also best at tapping into memories of this period, which is known as the “reminiscence bump”.

In line with this, the same consumer research also revealed different recognition rates for jingles across age groups. For instance, for millennials, McDonalds’ “I’m lovin’ it” ranked number two in the top-recognised jingles list and “Maybe it’s Maybelline” came in at number five.

More than 40 years on, plenty of Brits will still be able to sing along.

Some brands also explicitly aim to merge this nostalgic element with staying on trend. Maybelline has recently reinvented its jingle, incorporating dance music elements to appeal to gen Z audiences while retaining features of the classic 1990s jingle that connects millennials to their youth.

So does writing a memorable jingle help to sell a product? In short, yes. Research that examined choices of two products from the same category (for example, cameras) showed that products coupled with a familiar tune were more likely to be chosen than those coupled with an unfamiliar tune.

However, liking the music also independently affected product choice. In particular, music that participants really disliked tended to put them off choosing a product even if the tune was familiar. This suggests that advertisers do need to carefully consider the musical preferences of their target market over and above simply writing catchy tunes.

Music has a strong hold on our memories. The same features that help us to learn the alphabet through music or transport us back to the first dance at our wedding also mean we are able to effortlessly recall which cleaning product promises that washing machines live longer.

Kelly Jakubowski consults for Maybelline (L’Oréal Groupe). She receives research funding from The Leverhulme Trust and AHRC.

– ref. How advertising jingles influence our buying choices (and why we can still sing them decades later) – https://theconversation.com/how-advertising-jingles-influence-our-buying-choices-and-why-we-can-still-sing-them-decades-later-241162

MIL OSI – Global Reports –

January 24, 2025
MIL-OSI Video: AIRBORNE CADENCE! | U.S. Army

Source: US Army (video statements)

: DMD

About the U.S. Army:

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

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

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

https://www.youtube.com/watch?v=Y3uc7jRpZcs

MIL OSI Video –

January 24, 2025
MIL-OSI Europe: Government to take part in Nordic Council Session in Reykjavik

Source: Government of Sweden

When the Nordic Council holds its 76th Session in Reykjavik on 28–31 October, the focus will be on peace and security in the Arctic and Nordic regions.

“In light of Sweden’s and Finland’s accession to NATO and Russia’s war in Ukraine, it has become all the more important to discuss security and defence issues in a Nordic context. Our cooperation and collective defence of democracy and everyone’s right to live in peace and freedom are now more important than ever,” says Prime Minister Ulf Kristersson.

The Nordic Council Session will cover issues such as how the Nordic countries can best guarantee peace and security in the Nordic and Arctic regions.

During the week, ministers will attend separate meetings with the Nordic Council and together with their Nordic counterparts. Discussion topics for the prime ministers’ meeting will be organised crime, migration and an integrated Nordic region without border barriers.

An N5 meeting between the foreign ministers will also take place in conjunction with the Nordic Council Session. In 2024, Sweden has been acting Coordinator of the N5, an informal Nordic cooperation format for foreign and security policy issues. The Nordic ministers for culture will also meet during the week.

During the Session, the Nordic Council of Ministers will present the programme of the forthcoming Finnish Presidency of the Council.

Representing the Swedish Government are Mr Kristersson, Minister for Foreign Affairs Maria Malmer Stenergard, Minister for EU Affairs Jessica Rosencrantz and Minister for Culture Parisa Liljestrand.

On Tuesday, the Nordic prime ministers and foreign ministers will hold joint press conferences.

Friday 25 October is the final day for journalists to apply for accreditation. Follow the link below under Shortcuts.

A detailed programme for the week of the Session is available on the Nordic Council website, where parts of the programme will also be live-streamed.

MIL OSI Europe News –

January 24, 2025

MIL-OSI United Kingdom: ESFA Update: 23 October 2024

Source: United Kingdom – Executive Government & Departments

Latest information and actions from the Education and Skills Funding Agency for academies, schools, colleges, local authorities and further education providers.

Applies to England

Details

Latest for further education

Article	Title
Action	The further education workforce data collection is now open
Information	Targeted retention incentive applications are now open
Information	National professional qualification targeted support funding 2023 to 2024 allocations
Information	Further Education Condition Data Collection 2
Information	16 to 19 and adult revenue funding allocations for 2024 to 2025
Reminder	Final funding claim submission for 2023 to 2024 by Friday 25 October 2024

Latest information for academies

Article	Title
Information	Targeted retention incentive applications are now open
Information	National professional qualification targeted support funding 2023 to 2024 allocations
Information	16 to 19 and adult revenue funding allocations for 2024 to 2025
Information	New digital format for the general annual grant statement
Information	Academy trust management accounting good practice guide
Information	PE and sport premium allocations and conditions of grant for 2024 to 2025 academic year
Events and webinars	Mock trial – risk protection arrangement (RPA) members only
Events and webinars	Academy finance professionals national power hour with guest speaker Minister McKinnell

Latest information for local authorities

Article	Title
Action	The further education workforce data collection is now open
Information	National professional qualification targeted support funding 2023 to 2024 allocations
Information	Copyright licences for schools
Information	16 to 19 and adult revenue funding allocations for 2024 to 2025
Information	Update on the 2024 autumn term early years data collection
Information	PE and sport premium allocations and conditions of grant for 2024 to 2025 academic year
Reminder	Final funding claim submission for 2023 to 2024 by Friday 25 October 2024
Events and webinars	Mock trial – risk protection arrangement (RPA) members only

Published 23 October 2024

MIL OSI United Kingdom –

January 24, 2025

4BIO Capital	+44 (0) 203 427 5500 info@4biocapital.com

ICR Consilium Amber Fennell, Kris Lam, Jonathan Edwards	+44 (0)20 3709 5700 4biocapital@consilium-comms.com

Category: KB

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