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Category: Machine Learning

  • MIL-OSI: Bybit TR Launches Localized App to Elevate Crypto Asset Investment Experience

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Nov. 01, 2024 (GLOBE NEWSWIRE) — Bybit TR, the partner site of Bybit.com, proudly announces the launch of its new localized app, specifically designed for Türkiye market. With this move, Bybit TR strengthens its commitment to the local crypto community.

    In partnership with Narkasa, the Bybit TR app is set to redefine the crypto investment landscape in Türkiye. Bybit TR has been included in the ‘Crypto Asset Service Providers – List of Operating Companies by CMB, ensuring full compliance with local regulations.

    The Bybit TR app stands out for its user-friendly interface and innovative features, catering to both new and seasoned cryptocurrency investors. Its intuitive design allows users to trade quickly and stay up to date with the latest market movements, offering a streamlined experience tailored to the unique needs of Turkish investors.

    With the Bybit TR app, users can access popular cryptocurrencies like Bitcoin, Ethereum, and a wide variety of altcoins, including Türkiye’s own Galatasaray and Fenerbahçe Fan Tokens. Faster access to TRY trading pairs and a diverse range of crypto projects makes this app the ultimate tool for crypto traders in Türkiye.

    Kutluhan Akçın, Bybit TR Country Manager, expressed his enthusiasm about the launch: “We are thrilled to introduce the Bybit TR app, offering a secure, localized crypto trading experience. Our goal is to lead and innovate in the Turkish crypto market by integrating Turkish Lira and delivering unmatched customer support. With this launch, we’re ensuring that our users can trade confidently and efficiently within a fully compliant framework.”

    Security remains a top priority at Bybit TR. The Bybit TR app employs the latest security protocols, including two-factor authentication (2FA) and cold wallet solutions, to safeguard user assets.

    In addition to providing a secure trading environment, Bybit TR offers a comprehensive educational library to help users expand their knowledge of cryptocurrency trading. Plus, with 24/7 customer support, users can quickly receive assistance whenever they need it.

    The Bybit TR app not only enhances accessibility to cryptocurrency trading but also instills confidence in users as they navigate the dynamic world of crypto investment. With its localized features and commitment to user security, Bybit TR is the go-to platform for anyone looking to enter or deepen their involvement in the world of cryptocurrencies.

    Users can download the Bybit TR app on the App Store and Google Play.

    #Bybit / #TheCryptoArk

    About Bybit TR

    In June 2024, Bybit reinforced its commitment to the Turkish crypto market by rebranding Narkasa as Bybit TR. This strategic move underscores our dedication to offering Turkish users a localized and secure crypto trading experience. Operated by Narkasa Yazılım Ticaret Anonim Şirketi, Bybit Türkiye stands as an independent brand, tailored to meet the specific needs of the Turkish market while ensuring the highest standards of service and security.

    Twitter: https://x.com/BybitTurkiye

    Instagram: https://www.instagram.com/bybitturkiye/?hl=en

    Linkedin: https://www.linkedin.com/company/bybit-turkiye/?trk=ppro_cprof&originalSubdomain=tr

    Contact

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

    The MIL Network –

    January 26, 2025
  • MIL-OSI Economics: Secretary-General of ASEAN meets with U

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today met with Dr. Rumman Chowdhury, U.S. Science Envoy, at the ASEAN Headquarters/ASEAN Secretariat. During their meeting, Dr. Kao and Dr. Chowdhury exchanged insights on the global development of cutting-edge technologies, including Artificial Intelligence (AI), the Internet of Things (IoT), and Big Data, as well as their potentials to enhance regional cooperation in science, technology, and innovation. They also discussed effective strategies for implementing the ASEAN-United States Leaders’ Statement on Promoting Safe, Secure, and Trustworthy AI, recently adopted at the 12th ASEAN-U.S. Summit in Vientiane, Lao PDR.

    The post Secretary-General of ASEAN meets with U.S. Science Envoy appeared first on ASEAN Main Portal.

    MIL OSI Economics –

    January 26, 2025
  • MIL-OSI: Bybit Simplifies Staking Experiences with the Launch of On-Chain Earn

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, United Arab Emirates, Nov. 01, 2024 (GLOBE NEWSWIRE) — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is thrilled to introduce the Bybit On-Chain Earn feature, broadening user access to Proof-of-Stake earning models with added benefits. The staking-as-a-service feature provides a seamless staking experience, peeling away complex technicalities and bringing more users direct access to staking opportunities via the Bybit platform. From Oct. 30, Bybit users may unlock a new way of earning crypto rewards with On-Chain Earn.

    One of the major pain points of staking for beginners is the hassle of managing multiple technical layers and gas fees. The resource-intensive exercise also requires advanced technical know-how from individual stakers, who are expected to be equipped with the hardware and knowledge of managing and deploying staking nodes. 

    “Bybit On-Chain Earn will redefine the staking experience, stripping away complexity and opening doors for an influx of CeFi users to participate in the decentralized future. This launch marks a step toward a revolution in how people interact with blockchain technology, blending simplicity with opportunities. At Bybit, we are committed to creating an inclusive space and empowering users to become active contributors to blockchains they take part in,” Joan Han, Sales and Marketing Director of Bybit.

    “With the launch of On-Chain Earn, our goal is to bridge the gap between decentralized experiences and centralized users. At the same time, we are eager to collaborate with a wider range of projects within the ecosystem, working together to create a ‘Crypto Ark’ that provides a robust and comprehensive gateway to the world of digital assets,” said Jerry Li, Head of Financial Products at Bybit. 

    Feature Highlights: 

    • Navigating: staking with ease: With Bybit On-Chain Earn, users may take advantage of Bybit’s sophisticated platform and infrastructure. The service allows users to stake top-of-the-range cryptocurrencies from ETH to SOL with a few clicks, and without micromanaging the technical aspects of staking. 
    • Contributing to decentralization with potential gains: Users may also benefit from market upside while contributing to the safety and decentralization of the blockchain through Bybit On-Chain Earn. By staking on a blockchain of their choice, users will be contributing to the protocol simply by participating.
    • CeFi x DeFi opportunities: The product is uniquely positioned to support centralized finance (CeFi) user’s pivot to the decentralized finance (DeFi) space, allowing them to kickstart their DeFi exploration in the familiar user-friendly settings of Bybit. Ease of access to both avenues affords crypto believers with more diversification opportunities. Further, Bybit users may also enjoy competitive APRs and extra benefits such as airdrops and other rewards. 

    #Bybit / #TheCryptoArk

    About Bybit

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

    For more details about Bybit, users can visit Bybit Press 

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

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

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

    Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

    Contact

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

    The MIL Network –

    January 26, 2025
  • MIL-OSI Economics: Secretary-General of ASEAN meets with U.S. Science Envoy

    Source: ASEAN – Association of SouthEast Asian Nations

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today met with Dr. Rumman Chowdhury, U.S. Science Envoy, at the ASEAN Headquarters/ASEAN Secretariat. During their meeting, Dr. Kao and Dr. Chowdhury exchanged insights on the global development of cutting-edge technologies, including Artificial Intelligence (AI), the Internet of Things (IoT), and Big Data, as well as their potentials to enhance regional cooperation in science, technology, and innovation. They also discussed effective strategies for implementing the ASEAN-United States Leaders’ Statement on Promoting Safe, Secure, and Trustworthy AI, recently adopted at the 12th ASEAN-U.S. Summit in Vientiane, Lao PDR.

    The post Secretary-General of ASEAN meets with U.S. Science Envoy appeared first on ASEAN Main Portal.

    MIL OSI Economics –

    January 26, 2025
  • MIL-OSI Russia: NSU Startup Studio Begins Piloting Innovations at the University

    Translation. Region: Russian Federation –

    Source: Novosibirsk State University – Novosibirsk State University –

    On November 1, as part of the program of the scientific and production forum “Golden Valley”, an interactive event was held by Center for Entrepreneurial Initiatives (Startup Studio) NSU, dedicated to different ways of interaction between high-tech companies and universities.

    — One of the most promising formats, in my opinion, is piloting innovations on the basis of the university. We are talking about the application and, at the same time, testing the most modern solutions that are just entering the market in various research projects carried out at the university, as well as possible cooperation with student teams, — explained Maria Galyamova, Director of the NSU Startup Studio.

    An example of such cooperation was the joint project of the Safe Tech company and a graduate student Faculty of Medicine and Psychology V. Zelman NSU Anna Kamneva. Anna chose a study at the intersection of psychology and physiology as the topic of her diploma thesis — “The relationship between attributive style and the ability to self-regulate using biological feedback.”

    — Biofeedback is a relatively new and very interesting method of therapy, which works on the same principle as artificial intelligence training: training becomes possible with feedback. During biofeedback therapy, we get the opportunity to observe those parameters of the body that we could not previously (for example, brain wave activity — EEG, heart rate, and much more), — said Anna Kamneva.

    To carry out her research, she used the Swaid bracelet developed by Safe Tech, which is capable of tracking signs of stress in a person. For this, the stress index according to Baevsky is used. This is a Soviet scientist, one of the founders of space cardiology, who at one time developed a system for assessing the level of stress based on the variability of the heart rate. In addition to the pulse, the device evaluates electrodermal activity (the electrical conductivity of the skin changes depending on the intensity of sweat secretion).

    As the company notes, participation in this study is a case that demonstrates the real application of their technologies: the device will be an auxiliary device that will show how the stress level changes during biofeedback training.

    The university’s startup studio also sees this collaboration as a successful example, but this time of how the university can serve as a platform for piloting new technologies.

    — In fact, there are many options for implementing innovations in the university ecosystem, and the piloting program is one of them. The case mentioned is not the only one, there are other developers who would like to follow the same path. There are proposals from the Medical and Biological Union, interesting joint projects with the Institute of Intelligent Robotics of NSU. And the Startup Studio, taking a step in this direction, claims to become a kind of bridge between the university and Novosibirsk innovators, of whom we have quite a lot. For this purpose, we are holding our own introduction session within the framework of the Golden Valley forum, telling companies how to properly enter the university, — summed up Maria Galyamova.

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

    MIL OSI Russia News –

    January 26, 2025
  • MIL-OSI: Bitfarms Provides October 2024 Production and Operations Update

    Source: GlobeNewswire (MIL-OSI)

    – Earned 236 BTC in October 2024 & Increased Bitcoin Treasury to 1,188 BTC –

    This news release constitutes a “designated news release” for the purposes of the Company’s amended and restated prospectus supplement dated October 4, 2024, to its short form base shelf prospectus dated November 10, 2023.

    TORONTO, Nov. 01, 2024 (GLOBE NEWSWIRE) — Bitfarms Ltd. (NASDAQ/TSX: BITF), a global leader in vertically integrated Bitcoin data center operations, today announced its latest monthly production report. All financial references are in U.S. dollars.

    In October, Bitfarms announced a second hosting agreement with Stronghold Digital Mining, Inc. (“Stronghold”) that will deploy 10,000 miners, originally scheduled for Yguazu, Paraguay, to Stronghold’s Scrubgrass site. This follows an initial hosting agreement for 10,000 miners signed in September for a total of 20,000 miners to be deployed at Stronghold’s two sites in Pennsylvania. The two hosting agreements support approximately 4 EH/s with energization expected in several tranches over the coming months.

    CEO Ben Gagnon stated, “While we are pleased to have reached our year-end efficiency goal of 21 w/TH three months ahead of schedule, we recognize that we are behind schedule on delivering our mid-year 12 EH/s target. Despite improvements in recent miner shipments, continued miner warranty servicing has impeded the achievement of our hash rate target. We have a strong partnership with Bitmain and appreciate their diligence in rapidly servicing the underperforming miners as deliveries are scheduled to accelerate in the last two months of the year.”

    Mining Review
    October mining operations generated 236 BTC compared to 217 BTC in September reflecting a 3% increase in average operating EH and an 8% increase in Bitcoin difficulty during the month.

    Key Performance Indicators October 2024 September 2024 October 2023
    Total BTC earned 236 217 398
    Month End Operating EH/s 11.5 11.3 6.3
    BTC/Avg. EH/s 22 21 67
    Average Operating EH/s 10.6 10.3 5.9
    Operating Capacity (MW) 310 310 240
    Hydropower (MW) 256 256 186
    Watts/Terahash Efficiency (w/TH) 21 21 35
    BTC Sold 194 173 341


    October 2024 Select Operating Highlights

    • 11.5 EH/s operational at October 31, 2024, up 83% Y/Y.
    • 10.6 EH/s average operational, up 80% Y/Y and up 3% M/M.
    • 22.2 BTC/average EH/s, up 5% M/M and 67% lower Y/Y.
    • 236 BTC earned, up 9% M/M and 41% lower Y/Y.
    • 7.6 BTC earned daily on average, equal to ~$540,000 per day based on a BTC price of $71,000 at October 31, 2024.

    Bitfarms’ BTC Monthly Production

    Month BTC Earned 2024 BTC Earned 2023
    January 357 486
    February 300 387
    March 286 424
    April 269 379
    May 156 459
    June 189 385
    July 253 378
    August 233 383
    September 217 411
    October 236 398
    YTD Totals 2,496 4,090


    October 2024 Financial Update

    • Sold 194 of the 236 BTC earned as part of the Company’s regular treasury management practice for total proceeds of $13.0 million.
    • Added 42 BTC, bringing Treasury to 1,188 BTC, up from 1,147 BTC last month and representing $84.3 million based on a BTC price of $71,000 at October 31, 2024. 
    • Synthetic HODL™ of 802 long-dated BTC call options at October 31, 2024, up from 602 at the end of the prior month.

    Upcoming Conferences and Events

    • November 13-14: Cantor Crypto, Digital Assets & AI Infrastructure Conference (Miami)
    • November 19-20: ROTH Technology Conference (NYC)
    • November 20: Special Meeting of Bitfarms Shareholders (Virtual)
    • December 4: B. Riley Crypto & Energy Infrastructure Conference (NYC)
    • December 12: Northland Growth Conference (Virtual)
    • January 14-15, 2025: Needham Growth Conference (NYC)

    About Bitfarms Ltd.

    Founded in 2017, Bitfarms is a global vertically integrated Bitcoin data center company that contributes its computational power to one or more mining pools from which it receives payment in Bitcoin. Bitfarms develops, owns, and operates vertically integrated mining facilities with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers. The Company’s proprietary data analytics system delivers best-in-class operational performance and uptime.

    Bitfarms currently has 12 operating Bitcoin data centers and two under development, as well as hosting agreements with two data centers, in four countries: Canada, the United States, Paraguay, and Argentina. Powered predominantly by environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using sustainable and often underutilized energy infrastructure.

    To learn more about Bitfarms’ events, developments, and online communities:

    www.bitfarms.com
    https://www.facebook.com/bitfarms/
    https://twitter.com/Bitfarms_io
    https://www.instagram.com/bitfarms/
    https://www.linkedin.com/company/bitfarms/

    Glossary of Terms

    • Y/Y or M/M= year over year or month over month
    • BTC or BTC/day = Bitcoin or Bitcoin per day
    • EH or EH/s = Exahash or exahash per second
    • MW or MWh = Megawatts or megawatt hour
    • w/TH = Watts/Terahash efficiency (includes cost of powering supplementary equipment)
    • Synthetic HODL™ = the use of instruments that create BTC equivalent exposure

    Forward-Looking Statements

    This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. The statements and information in this release regarding the impact of the Stronghold hosting agreements, projected growth, target hashrate, opportunities relating to the Company’s geographical diversification and expansion, deployment of miners as well as the timing therefor, closing of the Stronghold acquisition on a timely basis and on the terms as announced, , the ability to gain access to additional electrical power and grow hashrate of the Stronghold business, performance of the plants and equipment upgrades and the impact on operating capacity including the target hashrate and multi-year expansion capacity, the opportunities to leverage Bitfarms’ proven expertise to successfully enhance energy efficiency and hashrate, and other statements regarding future growth, plans and objectives of the Company are forward-looking information.

    Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “prospects”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information.

    This forward-looking information is based on assumptions and estimates of management of Bitfarms at the time they were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Bitfarms to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors, risks and uncertainties include, among others: receipt of the approval of the shareholders of Stronghold and the Toronto Stock Exchange for the Stronghold acquisition as well as other applicable regulatory approvals; that the Stronghold acquisition may not close within the timeframe anticipated or at all or may not close on the terms and conditions currently anticipated by the parties for a number of reasons including, without limitation, as a result of a failure to satisfy the conditions to closing of the Stronghold acquisition; the construction and operation of new facilities may not occur as currently planned, or at all; expansion of existing facilities may not materialize as currently anticipated, or at all; new miners may not perform up to expectations; revenue may not increase as currently anticipated, or at all; the ongoing ability to successfully mine digital currency is not assured; failure of the equipment upgrades to be installed and operated as planned; the availability of additional power may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the power purchase agreements and economics thereof may not be as advantageous as expected; potential environmental cost and regulatory penalties due to the operation of the Stronghold plants which entail environmental risk and certain additional risk factors particular to the business of Stronghold including, land reclamation requirements may be burdensome and expensive, changes in tax credits related to coal refuse power generation could have a material adverse effect on the business, financial condition, results of operations and future development efforts, competition in power markets may have a material adverse effect on the results of operations, cash flows and the market value of the assets, the business is subject to substantial energy regulation and may be adversely affected by legislative or regulatory changes, as well as liability under, or any future inability to comply with, existing or future energy regulations or requirements, the operations are subject to a number of risks arising out of the threat of climate change, and environmental laws, energy transitions policies and initiatives and regulations relating to emissions and coal residue management, which could result in increased operating and capital costs and reduce the extent of business activities, operation of power generation facilities involves significant risks and hazards customary to the power industry that could have a material adverse effect on our revenues and results of operations, and there may not have adequate insurance to cover these risks and hazards, employees, contractors, customers and the general public may be exposed to a risk of injury due to the nature of the operations, limited experience with carbon capture programs and initiatives and dependence on third-parties, including consultants, contractors and suppliers to develop and advance carbon capture programs and initiatives, and failure to properly manage these relationships, or the failure of these consultants, contractors and suppliers to perform as expected, could have a material adverse effect on the business, prospects or operations; the digital currency market; the ability to successfully mine digital currency; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of hydroelectricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power to operate cryptocurrency mining assets; the risks of an increase in electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which Bitfarms and Stronghold operate and the potential adverse impact on profitability; future capital needs and the ability to complete current and future financings, including Bitfarms’ ability to utilize an at-the-market offering program ( “ATM Program”) and the prices at which securities may be sold in such ATM Program, as well as capital market conditions in general; share dilution resulting from an ATM Program and from other equity issuances; volatile securities markets impacting security pricing unrelated to operating performance; the risk that a material weakness in internal control over financial reporting could result in a misstatement of financial position that may lead to a material misstatement of the annual or interim consolidated financial statements if not prevented or detected on a timely basis; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; and the adoption or expansion of any regulation or law that will prevent Bitfarms from operating its business, or make it more costly to do so. For further information concerning these and other risks and uncertainties, refer to Bitfarms’ filings on www.sedarplus.ca (which are also available on the website of the U.S. Securities and Exchange Commission (the “SEC”) at www.sec.gov), including the MD&A for the year-ended December 31, 2023, filed on March 7, 2024 and the MD&A for the three and six months ended June 30, 2024 filed on August 8, 2024, and its registration statement on Form F-4 (File No. 333-282657) filed by Bitfarms with the SEC (the “registration statement”), which includes a proxy statement of Stronghold that also constitutes a prospectus of Bitfarms (the “proxy statement/prospectus”). Although Bitfarms has attempted to identify important factors that could cause actual results to differ materially from those expressed in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended, including factors that are currently unknown to or deemed immaterial by Bitfarms. There can be no assurance that such statements will prove to be accurate as actual results, and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on any forward-looking information. Bitfarms does not undertake any obligation to revise or update any forward-looking information other than as required by law. Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the Toronto Stock Exchange, Nasdaq, or any other securities exchange or regulatory authority accepts responsibility for the adequacy or accuracy of this release.

    Additional Information about the Merger and Where to Find It

    This communication relates to a proposed merger between Stronghold and Bitfarms. In connection with the proposed merger, Bitfarms intends to file with the SEC a registration statement on Form F-4, which will include a proxy statement of Stronghold that also constitutes a prospectus of Bitfarms. After the registration statement is declared effective, Stronghold will mail the proxy statement/prospectus to its shareholders. This communication is not a substitute for the registration statement, the proxy statement/prospectus or any other relevant documents Bitfarms and Stronghold has filed or will file with the SEC. Investors are urged to read the proxy statement/prospectus (including all amendments and supplements thereto) and other relevant documents filed with the SEC carefully and in their entirety if and when they become available because they will contain important information about the proposed merger and related matters.

    Investors may obtain free copies of the registration statement, the proxy statement/prospectus and other relevant documents filed by Bitfarms and Stronghold with the SEC, when they become available, through the website maintained by the SEC at www sec.gov. Copies of the documents may also be obtained for free from Bitfarms by contacting Bitfarms’ Investor Relations Department at investors@bitfarms.com and from Stronghold by contacting Stronghold’s Investor Relations Department at SDIG@gateway-grp.com.

    No Offer or Solicitation

    This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy, sell or solicit any securities or any proxy, vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

    Participants in Solicitation Relating to the Merger

    Bitfarms, Stronghold, their respective directors and certain of their respective executive officers may be deemed to be participants in the solicitation of proxies from Stronghold’s shareholders in respect of the proposed merger. Information regarding Bitfarms’ directors and executive officers can be found in Bitfarms’ annual information form for the year ended December 31, 2023, filed on March 7, 2024, as well as its other filings with the SEC. Information regarding Stronghold’s directors and executive officers can be found in Stronghold’s proxy statement for its 2024 annual meeting of stockholders, filed with the SEC on April 29, 2024, and supplemented on June 7, 2024, and in its Form 10-K for the year ended December 31, 2023, filed with the SEC on March 8, 2024. This communication may be deemed to be solicitation material in respect of the proposed merger. Additional information regarding the interests of such potential participants, including their respective interests by security holdings or otherwise, will be set forth in the proxy statement/prospectus and other relevant documents filed with the SEC in connection with the proposed merger if and when they become available. These documents are available free of charge on the SEC’s website and from Bitfarms and Stronghold using the sources indicated above.

    Investor Relations Contacts:

    Bitfarms
    Tracy Krumme
    SVP, Head of IR & Corp. Comms.
    +1 786-671-5638
    tkrumme@bitfarms.com

    Media Contacts:

    Québec: Tact
    Louis-Martin Leclerc
    +1 418-693-2425
    lmleclerc@tactconseil.ca

    The MIL Network –

    January 26, 2025
  • MIL-OSI United Kingdom: City Art Centre presents POP LIFE: A vibrant fusion of pop culture and contemporary figurative drawing featuring works by 13 Scottish and international artists

    Source: Scotland – City of Edinburgh

    This November, art enthusiasts and pop culture aficionados are invited to immerse themselves in POP LIFE, an exhibition that explores the intersection of popular culture and contemporary figurative drawing, challenging traditional distinctions between high and low art.

    Opening on Saturday, 2 November, POP LIFE features works by 13 Scottish and international artists, many of whom will be exhibiting in Scotland for the first time. Each artist uniquely engages with popular culture, referencing diverse influences such as music, film, fashion, literature, social media, and celebrities. The exhibition highlights this interplay, using familiar language to delve into themes that expand traditional drawing practices.

    Co-curated by artists Euan Gray and Witte Wartena, POP LIFE is a travelling exhibition previously showcased in Sweden (2022-23) and the Netherlands (2023). This iteration has been tailored to include Scottish artists and underscores the enduring allure of the human form as a reflection of identity and societal norms, drawing inspiration from art history, socio-political movements, and cultural shifts over the past six decades.

    Visitors can look forward to works by renowned and early-career artists including Marcel van Eeden, Euan Gray, Paul McDevitt, Charlotte Schleiffert, Sandra Vásquez de la Horra, Witte Wartena, David Shrigley, Andrew Cranston, Laura Bruce, Marc Brandenburg, Donald Urquhart, Jamie Fitzpatrick, and Fiona Michie—all of whom draw inspiration from the imagery and messages of pop culture.

    Over 80 works will be presented, with several new pieces created specifically for this exhibition.

    Marc Brandenburg has transformed a room of the gallery with UV light, to explore unseen sides of Tiergarten Park in Berlin, whilst Laura Bruce accompanies her drawn tributes to country music icons with vocal renditions of their biggest hits. Edinburgh-based artist Jamie Fitzpatrick is showing his large-scale drawings alongside a new monumental sculpture, looking critically and who in society is publicly memorialised. Internationally renowned artist David Shrigley will present 16 brand new drawings, showcasing his absurd and humorous work.

    Culture and Communities Convener, Val Walker said:

    I’m delighted that the City Art Centre can showcase this fantastic iteration of the POP LIFE exhibition featuring the works of 13 exciting artists. I’m especially proud that it will mark the first time some of these artists have displayed in Scotland, and that we will be presenting works created especially for the exhibition.

    I’m sure visitors will be captivated by these pieces and engage with the ever-changing dynamics of art within society.

    Curator Euan Gray, said:

    In an era dominated by computer generated images, AI and 3D printing, this exhibition offers us a wonderful opportunity to champion the enduring appeal of traditional drawing, wholeheartedly embrace the language of pop culture and promote a remarkable group of Scottish and international artists for whom the human form remains an essential motif.

    MIL OSI United Kingdom –

    January 26, 2025
  • MIL-OSI Asia-Pac: Department of Sports: Successful Completion of Special Campaign 4.0

    Source: Government of India (2)

    Posted On: 01 NOV 2024 3:11PM by PIB Delhi

    The Department of Sports, in collaboration with organizations under it – including the Sports Authority of India (SAI), Lakshmibai National Institute of Physical Education (LNIPE), National Sports University (NSU), National Anti-Doping Agency (NADA), and the National Dope Testing Laboratory (NDTL)—made a significant contribution to Special Campaign 4.0 organized by Department of Administrative Reforms & Public Grievances (DARPG). This campaign, was conducted during October 2024 and was aimed at embedding Swachhata (cleanliness) principles within the Department’s ethos and addressing long-standing pendencies. The Department of Sports commenced this effort with the spirited launch of the Fit India Swachhata Freedom Run 5.0 on October 2, 2024, at Major Dhyanchand Stadium, intertwining the themes of fitness and cleanliness.

    Over the course of the campaign, the Department replied 15 pending Member of Parliament references, resolved 30 public grievances, and fulfilled 2 Parliamentary Assurances under active supervision of senior officers of Department. This dedicated oversight ensured that objectives were met with both efficiency and impact.

    The campaign also focused on physical and digital file management. Accordingly, 210 physical files were thoroughly reviewed and subsequently 120 were weeded out. Moreover, the campaign saw the completion of the review of 220 e-files, marking a substantial stride in digital records management. On the ground, cleanliness drives were carried out across 44 identified sites spanning field offices and headquarters of the organizations under this Department. This concerted effort resulted in the reclamation of 12,000 square feet of space, with many newly available areas repurposed into valuable utility spaces. In addition, scrap disposal during the campaign generated Rs.1,76,000 in revenue, underscoring a commitment to sustainability and resourcefulness in the pursuit of cleanliness. 24 Tweets were made by this Department and organizations under it across various social media platforms, leveraging hashtags #SpecialCampaign4.0 and #SwachhBharat to amplify the campaign’s reach and visibility.

    Through above initiatives, the Department of Sports has not only reinforced the values of Swachhata but also set an example of practical, efficient governance. Some of the pictures of cleaning of office premises/ campus at organizations under this Department are shown below.

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    Himanshu Pathak

    (Release ID: 2070114) Visitor Counter : 40

    MIL OSI Asia Pacific News –

    January 26, 2025
  • MIL-OSI Asia-Pac: Department of Agriculture & Farmers’ Welfare has released the Operational Guidelines of Central Sector Scheme “NAMO DRONE DIDI”

    Source: Government of India (2)

    Department of Agriculture & Farmers’ Welfare has released the Operational Guidelines of Central Sector Scheme “NAMO DRONE DIDI”

    Government has approved the Central Sector Scheme ‘Namo Drone Didi’ for providing Drones to the Women Self Help Groups under DAY-NRLM, with an outlay of Rs. 1261 Crores

    The scheme aims to provide drones to 14500 selected Women SHGs during the period from 2024-25 to 2025-2026 for providing rental services to farmers for agriculture purpose

    Posted On: 01 NOV 2024 12:04PM by PIB Delhi

    The Government has approved the Central Sector Scheme ‘Namo Drone Didi’ for providing Drones to the Women Self Help Groups (SHGs) under DAY-NRLM, with an outlay of Rs. 1261 Crores. The scheme aims to provide drones to 14500 selected Women SHGs during the period from 2024-25 to 2025-2026 for providing rental services to farmers for agriculture purpose (application of liquid fertilizers and pesticides for the present). The Department of Agriculture & Farmers’ Welfare has released the Operational Guidelines this scheme and all the stakeholders have been requested to make meaningful use of these operational guidelines to ensure prompt roll out and implementation of the ‘Namo Drone Didi’ Scheme. The major components of the operational guidelines are as under:

    The Scheme will be governed at the Central level by the Empowered Committee of the Secretaries of Department of Agriculture & Farmers’ Welfare, Department of Rural Development, Department of Fertilizers, Ministry of Civil Aviation and Ministry of Women and Child Development.

    The Implementation and Monitoring Committee headed by the Additional Secretary, Department of Rural Development and having representation from all other stakeholders will be  responsible for effective planning, implementation and monitoring of the scheme and it will provide overall advice and guidance to all technical matters related to the implementation of the scheme.

    Under the scheme, a Central Financial Assistance @ 80% of the cost of drone and accessories/ancillary charges up to a maximum of ₹ 8.0 lakhs will be provided to the women SHGs for purchase of drones as a package.

    The Cluster Level Federations (CLFs) of SHGs/SHGs may raise the balance amount (total cost of procurement minus subsidy) as loan under National Agriculture Infra Financing Facility (AIF). Interest subvention @ 3% on the AIF loan will be provided to the CLFs/SHGs.

    The CLFs/SHGs shall also have the option to access loans from other sources/programmes/schemes of Ministry of Rural Development. 

    Under the scheme, not only the drones but, drones as a package will be supplied.  The package will consists of basic drone with spray assembly for spraying liquid fertilizers and pesticides, Drone carrying box, standard battery set, downward facing camera, dualchannel fast battery charger, battery charger hub, anemometer, pH meter and 1 year onsite warranty on all items.

    The package also includes 04 spare battery sets, one spare propeller set (each set contains 6 propellers), nozzle set, dual channel fast battery charger, battery charger hub, 15 days training for drone pilot and drone assistant, one year comprehensive insurance, 2 years annual maintenance contract and applicable GST. The additional sets of batteries will ensure continuous drone flying which can easily cover 20 acres in a day.

    One of the members of the women SHGs will be selected for 15 day training comprising of mandatory drone pilot training and additional training for agriculture purpose for nutrient and pesticide application. The other member/ family member of the SHG with inclination to take up repairs of electrical goods, fitting and mechanical works will be trained as drone assistant. The drone manufacturers shall provide these trainings as a package along with the supply of drones as per the training schedule indicated in the Operational Guidelines.

    The Lead Fertilizer Companies (LFCs) responsible for the States will be the implementing agencies of the scheme at the State level and they will establish necessary coordination with the State Departments, Drone manufacturers, Cluster Level Federations of SHGs/SHGs  and the farmers/beneficiaries etc. The drones will be procured by the LFCs through a fair and transparent process and the ownership of drones will be placed with the CLF of SHGs or SHGs.

    Implementation of the scheme hinges on rightful selection of the area/cluster and SHG group where there is demand for drone to provide agriculture services. As the introduction of drones in agriculture is at nascent stage, the States will closely monitor the interventions, provide handholding support to the women SHGs and help them in getting the business to cover an area of at least 2000 to 2500 acres in a year. The State Departments of Agriculture & State Mission Directors of DAYNRLM will have a very strong convergence and they will take the ownership of the scheme for its successful implementation at the ground level with the help of State Level Committee.

    Effective monitoring of the scheme will be through an IT based Management Information System (MIS) i.e. Drone Portal which will act as endto-end software for service delivery and monitoring, funds flow and disbursement of funds. The portal will also track operations of each drone and provide live information on drone usage.

    It is envisaged that the initiatives under the scheme will provide sustainable business and livelihood support to SHGs and they would be able to earn additional income for them. The scheme will help in infusing advance technology in agriculture for improved efficiency, enhanced crop yield and reduced cost of operation for the benefit of farmers.

    *****

    SS

    (Release ID: 2070029) Visitor Counter : 5

    MIL OSI Asia Pacific News –

    January 26, 2025
  • MIL-OSI Asia-Pac: Shri Piyush Goyal concludes successful visit to Kingdom of Saudi Arabia, strengthening India-Saudi Arabia economic ties at the 8th Edition of Future Investment Initiative

    Source: Government of India (2)

    Shri Piyush Goyal concludes successful visit to Kingdom of Saudi Arabia, strengthening India-Saudi Arabia economic ties at the 8th Edition of Future Investment Initiative

    Shri Piyush Goyal  co-chaired the 2nd Ministerial Meeting of the Economy and Investment Committee under the India-Saudi Strategic Partnership Council (SPC) along with Minister of Energy, Kingdom of Saudi Arabia, His Royal Highness Prince Abdulaziz bin Salman Al-Saud

    Posted On: 01 NOV 2024 11:07AM by PIB Delhi

    Union Minister of Commerce and Industry, Shri Piyush Goyal, successfully concluded his visit to the Kingdom of Saudi Arabia. During the visit, Shri Piyush Goyal participated in the Plenary Session of the 8th Edition of Future Investment Initiative (FII), with representatives from global Governments and the industry. He highlighted the critical role of international partnerships and economic diplomacy in fostering global cooperation, innovation, technological advancement, and investment. He urged global investors to seize emerging opportunities in India, particularly in high-growth sectors such as artificial intelligence, renewable energy, digital infrastructure, and advanced manufacturing.

    Shri Piyush Goyal also co-chaired the 2nd Ministerial Meeting of the Economy and Investment Committee under the India-Saudi Strategic Partnership Council (SPC) along with Minister of Energy, Kingdom of Saudi Arabia, His Royal Highness Prince Abdulaziz bin Salman Al-Saud on 30th October 2024 in Riyadh. The Strategic Partnership Council was established in 2019, following the visit of the Hon’ble Prime Minister Shri Narendra Modi to the Kingdom of Saudi Arabia in October 2019.

    The Committee reviewed the progress achieved by the four Joint Working Groups: Agriculture and Food Security; Energy; Technology and Information Technology; and Industry and Infrastructure. They noted the deepening of bilateral economic partnership between India and Saudi Arabia and deliberated on ways to enhance trade and investment.

    The Minister held fruitful ministerial engagements in Riyadh, including with the Minister of Energy, Minister of Industry and Mineral Resources and Minister of Investment. These engagements focused on collaborative initiatives in trade, energy, and technology. These discussions culminated in a series of actionable agreements, aimed at enhancing trade volumes and facilitating a smooth flow of investments between the two countries. The agreements emphasise cooperation in energy transition, digital transformation, and the exchange of expertise to accelerate economic growth.

    Shri Piyush Goyal also met with Mr. Peter Herweck, CEO of Schneider Electric and Mr. William E. Ford, Chairman and CEO of General Atlantic, to discuss India’s economic landscape and investment opportunities across sectors.

    In recent years, many bilateral agreements have been formalised between India and Saudi Arabia, covering sectors such as food exports, pharmaceuticals, electrical interconnectivity, energy, small and medium enterprises, digitization and electronic manufacturing. Both countries are also exploring collaboration in emerging fields like fintech, new technologies, energy efficiency, clean hydrogen, textiles, mining, etc. The Committee Meeting reviewed these developments and reaffirmed their commitment to advancing cooperation across various areas of shared interest.

    Later in the day, Minister Shri Piyush Goyal interacted with the Institute of Chartered Accountants of India (ICAI) chapter in Saudi Arabia and emphasized the role of chartered accountants in supporting India’s expanding global trade network. Discussions highlighted ICAI’s efforts to promote Indian standards globally, including initiatives to upskill professionals and bolster India’s position in global financial services.

    The Minister launched the Lulu Wali Diwali Festival at the Lulu Hypermarket by lighting a Big Diya made with LED, furthering India-Saudi cultural and economic ties. The Diwali Utsav, organised in partnership with Lulu Hypermarket, brings the festive spirit of India’s Festival of Lights to Saudi Arabia, showcasing an array of Indian products, from festive decor and traditional foods to handicrafts. The launch was followed by unveiling of a giant product wall comprising 10,000+ Indian products including Ghee from Uttarakhand, Ladakh Apple, Indian Cavendish banana, Dragon Fruit from Maharashtra, new range of Millets based breakfast cereals, and Qaadu Organic beauty products.

    At the Indian Embassy in Riyadh, the Minister unveiled the One District, One Product (ODOP) Wall, featuring unique products from various districts across India. The ODOP initiative, part of the Government of India’s “Vocal for Local” campaign, aims to promote regional craftsmanship by showcasing the rich cultural heritage of India through distinctive, high-quality products.

    This visit marks a significant milestone in strengthening the strategic partnership between India and the Kingdom of Saudi Arabia. It underscores both nations’ commitment to deepening economic ties and addressing global challenges through collaborative efforts. The outcomes of the discussions are expected to unlock new avenues for investment and trade, driving economic growth and innovation in both countries.

    ***

    AD/CNAN

    (Release ID: 2069975) Visitor Counter : 81

    MIL OSI Asia Pacific News –

    January 26, 2025
  • MIL-OSI Russia: NSU and SibNIA create a joint laboratory “Intelligent systems for testing aircraft structures”

    Translation. Region: Russian Federation –

    Source: Novosibirsk State University – Novosibirsk State University –

    Novosibirsk State University and the Siberian Aviation Research Institute named after S. A. Chaplygin continue their cooperation in the educational and research spheres. At the scientific and production forum “Golden Valley”, which was held from October 31 to November 1 and the main organizer of which was NSU, an agreement was signed to create a joint laboratory “Intelligent systems for testing aircraft structures”. At the first stage, it will be engaged in bench tests of equipment in order to predict possible deformations and breakdowns, in the future, the range of work performed will be expanded – it will also include video analytics, a vibration damping system.

    The laboratory will include students and postgraduates of the Faculty of Information Technology and the Faculty of Mechanics and Mathematics of NSU, as well as employees of partner companies – FAU “SibNIA named after S.A. Chaplygin” FAU (part of the FGBU “Research Center “Institute named after N.E. Zhukovsky”) and JSC TsNIAP “AVIASPETSTEST”, who will act as mentors – a total of 13 people. The head of the laboratory will be Vladimir Berikov, Doctor of Technical Sciences, Senior Researcher at the Institute of Mathematics named after S.L. Sobolev and a lecturer at the Faculty of Information Technology of NSU.

    The laboratory is fully focused on solving applied problems arising during bench tests of aircraft equipment, including the development and creation of modules of the Intelligent Bench Test System for Aircraft Equipment (ISIA) with elements of artificial intelligence; an intelligent operator workstation with connected archives and libraries; intelligent simulators, as well as vibration isolation systems for high-precision instruments and systems.

    — During bench tests of equipment, we will use sensors to collect data streams in our system, use archives and libraries, and analyze all the information received using artificial intelligence systems. Thanks to this, we will be able to predict for what time and what deformations and breakdowns are possible. In this way, we will preserve individual aircraft structures intact, solving the main problem of ground tests, when expensive structures become unusable, — noted Alexander Sychev, Deputy Director of the Center for Interaction with Government Authorities and Industrial Partners of NSU.

    — The organization of a joint laboratory will give a new impetus to the development of methods for testing aircraft structures. I am confident that cooperation with NSU will allow us to significantly advance in the study of the strength of aircraft structures and the subsequent improvement of the test bench base, — commented Alexander Laznenko, head of the research department for fatigue and static strength of aircraft structures at SibNIA.

    At the first stage, the task is to test the capabilities of the intelligent system when testing the main load-bearing parts, and then gradually move on to all parts and units of aircraft structures. What is important is that the integrity of the stand itself will also be monitored, which is also subject to significant loads during testing and may fail.

    The use of artificial intelligence systems and neural networks will not only significantly optimize testing costs, but also reduce the testing time of individual aircraft parts, which can now reach thousands of hours.

    The new laboratory will start operating at NSU this year, and in 2025, a specially equipped site will appear at SibNIA, which will allow NSU students and postgraduates to carry out work directly at the enterprise.

    Another promising area for cooperation between the two organizations is unmanned aircraft systems. Given the developments in this area at NSU and SibNIA, it is planned to create a joint Laboratory of Autonomous and Unmanned Aircraft Systems in the future. In the future, the two laboratories will be combined into the Center for Intelligent Aircraft Systems.

    The Siberian Aviation Research Institute named after S. A. Chaplygin and Novosibirsk State University have been cooperating since 2022, when they began holding a joint seminar on Industrial Mathematics on a regular basis. In 2023, SibNIA and NSU signed an agreement, according to which practical training for students in the field of Computer Systems and Complexes will be organized at the research institute. In August 2024, the two organizations announced plans to create a digital platform for bench testing of aircraft equipment with elements of artificial intelligence within the next two years.

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

    MIL OSI Russia News –

    January 26, 2025
  • MIL-OSI: Stardust Power Announces Third Quarter 2024 Earnings Release Date, Conference Call

    Source: GlobeNewswire (MIL-OSI)

    GREENWICH, Conn., Nov. 01, 2024 (GLOBE NEWSWIRE) — Stardust Power Inc. (NASDAQ: SDST) (“Stardust Power” or the “Company”), an American developer of battery-grade lithium products, today announced that that it plans to release its third quarter 2024 financial results after market close on Wednesday, November 13, 2024. Roshan Pujari, Founder and Chief Executive Officer and Uday Devasper, Chief Financial Officer will host a conference call at 5:30 pm ET on Wednesday, November 13, 2024 to discuss the Company’s performance.

    Participants may access the call by clicking the participant call link and ask questions: https://register.vevent.com/register/BI636e5a7167ac45fe86b733d151aba0af. Upon registering at the link, you will receive the dial-in info and a unique PIN to join the call as well as an email confirmation with the details. You can also access the call via live audio webcast using the website link to listen in: https://edge.media-server.com/mmc/p/vd7zimt8.

    Participants should log in at least 15 minutes early to receive instructions.

    About Stardust Power Inc.

    Stardust Power is a developer of battery-grade lithium products designed to supply the electric vehicle (EV) industry and bolster America’s energy leadership by building resilient supply chains. Stardust Power is developing a strategically central lithium refinery in Muskogee, Oklahoma with the anticipated capacity of producing up to 50,000 metric tons per annum of battery-grade lithium. The company is committed to sustainability at each point in the process. Stardust Power trades on the Nasdaq under the ticker symbol “SDST.” For more information, visit www.stardust-power.com

    Stardust Power Contacts

    For Investors:
    Johanna Gonzalez
    investor.relations@stardust-power.com

    For Media:
    Michael Thompson
    media@stardust-power.com

    The MIL Network –

    January 26, 2025
  • MIL-OSI USA: Administrator Samantha Power Speaks with UNICEF Executive Director Cathy Russell

    Source: USAID

    The below is attributable to Spokesperson Benjamin Suarato:‎

    Today, Administrator Samantha Power spoke with UNICEF Executive Director Cathy Russell. They discussed next steps for the Partnership for a Lead-Free Future, a USAID and UN-led initiative to end childhood lead poisoning in low- and middle-income countries, that was launched on the sidelines of the 79th United Nations General Assembly in September 2024. They also discussed critical efforts to meet  ongoing health and humanitarian needs in Gaza.

    MIL OSI USA News –

    January 26, 2025
  • MIL-OSI USA: Celebrating Tribal Sovereignty and Identity This Native American Heritage Month

    Source: USAID

    Ada Deer was just four years old when she attended the first general council meetings for her tribe, the Menominee Nation, which has been rooted in the Great Lakes region for more than 10,000 years. She was committed from her earliest years to advocating for her people, but when she was a young woman, in 1961, the Federal Government terminated the Menominee Nation’s recognition, halting all federal services to the tribe and placing all tribal property and assets in the hands of a private corporation. This resulted in a drastic decline in employment and the decimation of basic services, including health care, for the Menominee people, as the reservation hospital closed due to lack of funding. 

    Inspired by the civil rights movements happening around the country, Deer helped to form a new group demanding that the U.S. government recognize the rights of her tribe. The group mobilized in opposition to federal policies, especially those related to land sales, and argued for restoring the Menominee Nation’s legal right to exist. Their efforts ultimately resulted in President Nixon signing legislation in 1973, restoring federal recognition to the Menominee Tribe. That year, when asked about her advocacy in an interview, Deer said, “Mainly, I want to show people who say nothing can be done in this society that it just isn’t so. You don’t have to collapse just because there’s federal law in your way. Change it!” 

    Ada Deer went on to become the first woman to chair the Menominee Tribe in Wisconsin, and then the first woman to serve as the Assistant Secretary For Indian Affairs at the Department of the Interior. During her confirmation hearing before Congress, Deer recounted, “At Menominee, we collectively discovered the kind of determination that human beings only find in times of impending destruction… Against all odds, we invented a new policy, restoration.” While in office, she helped set federal policy for more than 550 federally recognized tribes, guided by this policy of restoration.

    Each November at USAID, we recognize Native American Heritage Month. This month is a time to celebrate the rich culture and the vast contributions of Native American and Indigenous persons like Deer, who have helped push to make our nation’s core values of liberty and justice for all a lived reality, for their own communities, and for others in the United States and beyond. 

    These values are core to what we do at USAID as well. We are working across our teams to create more pathways for people from Indigenous communities, at home and abroad, to work with USAID. The Office of Civil Rights is continuing its work to break down barriers to employment for Indigenous Peoples. And USAID’s Policy on Promoting the Rights of Indigenous Peoples (PRO-IP) promotes thoughtful and direct engagement with Indigenous Peoples throughout our programming.

    This Native American Heritage Month, USAID proudly celebrates the remarkable resilience, courage, and contributions of Native cultures, present and past, in this country.

    MIL OSI USA News –

    January 26, 2025
  • MIL-OSI USA: Administrator Samantha Power meets with Head of Syria Civil Defence Raed Al Saleh

    Source: USAID

    The below is attributable to Spokesperson Benjamin Suarato:‎

    Today, Administrator Samantha Power met with Raed Al Saleh, Founder and Head of Syria Civil Defence, popularly known as the White Helmets. Administrator Power and Saleh discussed the White Helmets’ ten years of humanitarian and civic action in Syria, including responding to the February 2023 Türkiye-Syria earthquake, rescuing nearly 3,000 people from under the rubble in Idlib and northern Aleppo. Administrator Power reiterated USAID’s support for the White Helmets’ mission and commitment to investing in locally-led development as a way to help strengthen the response to humanitarian crises around the world.

    MIL OSI USA News –

    January 26, 2025
  • MIL-OSI USA: DLNR News Release-The Dream for Maui’s Mother Reef, Oct. 31, 2024

    Source: US State of Hawaii

    DLNR News Release-The Dream for Maui’s Mother Reef, Oct. 31, 2024

    Posted on Oct 31, 2024 in Latest Department News, Newsroom

    DEPARTMENT OF LAND AND NATURAL RESOURCES 

     

    JOSH GREEN, M.D. 
    GOVERNOR 

     

    DAWN CHANG 
    CHAIRPERSON 

     

    NEWS RELEASE 

     

     FOR IMMEDIATE RELEASE 

    Oct. 31, 2024

     

    THE DREAM FOR MAUI’S MOTHER REEF

    First Baby Steps Underway for Summit-to-Sea Restoration

     

    (KAHULUI, MAUI) – Conservationists are often asked to describe their efforts in people terms. When thinking about what’s being called the Summit-to-Sea restoration of the Olowalu Reef on Maui’s southwestern shore, Tamara Farnsworth of The Nature Conservancy (TNC) shares her dream.

     

    “My dream, which was shared by Auntie Wiki Kaluna-Palafox, is to see clear streams running. My dream is to see healthy fisheries developing, to see brighter and more diverse corals on the reef. The really big dream is to see limu return to these shores. I think that’s a wonderful vision for us to work toward, is very abundant limu here back in the ocean and on the shores,” Farnsworth said.

     

    Work to restore what is known as Maui’s mother reef began this week with baby steps. A contractor started collecting soil samples as part of feasibility study for a possible retention basin in Manawaipueo Gulch.

     

    “We’re doing some preliminary work for what is proposed in our NOAA transformational habitat grant,” Farnsworth explains. NOAA awarded $9.9 million to, among other projects, reduce sediment reaching the reef. During runoff periods the ocean turns brown and huge amounts of muddy sediment chokes the extensive Olowalu reef.

     

    “We are looking at ways to capture the sediment before it reaches the ocean. We are taking baby steps to understand if it makes sense at this time, in this place, to possibly build a small retention basin. We’ve done cultural, literature, environmental and scientific reviews. Now we’re taking soil and core samples to help us understand the depth of a potential sediment basin and to understand if it even makes sense,” Farnsworth explained.

     

    TNC is one of numerous partners that will lead various projects in partnership with the DLNR Division of Forestry and Wildlife (DOFAW). Other projects planned during the three-year-long, Summit-to-Sea restoration grant period include:

     

    • Address major sources of erosion
    • Fencing to help control hooved animals
    • Reforestation
    • Riparian habitat restoration (rivers, streams, body of water)
    • Dip tanks for wildland firefighting
    • Additional fire breaks

     

    Separate research and funding is targeted at developing “super reefs.” Rising sea temperatures have caused mass coral bleaching across the Hawaiian Islands, and the super reefs project is aimed at gaining better understanding of coral species that have the best thermal tolerance, meaning those that can tolerate rising temperatures the best.

     

    Continuing the dream, Farnsworth commented, “It hasn’t been that long ago since we saw the kinds of limu population that we hear about from our kūpuna and folks who’ve lived in this area. They remember the limu piling up. They remember limu being part of everybody’s diet just a generation ago.”

     

    Stopping land-based threats is the first step toward the restoration of Maui’s mother reef. The problems exacerbated quickly over time, so project managers say to solve them is a long-term venture.

     

    # # #

    RESOURCES 

    (All images/video courtesy: DLNR) 

     

    HD video – The Dream for Maui’s Mother Reef (web feature)

    https://vimeo.com/1024936516

     

    HD video – Project area and Olowalu reef aerials, retention basin test bores (Oct. 28, 2024):

    https://www.dropbox.com/scl/fi/ci25cv39c3f5u86439uh8/Retention-Basin-Test-Bores-Oct.-28-2024.mov?rlkey=4tmw200jxwe3gcchfh438bb1o&st=4qj4dnoj&dl=0

    HD video – Tamara Farnsworth, The Nature Conservancy SOTs (Oct. 28, 2024):

    https://www.dropbox.com/scl/fi/05pd5hz3ipxia3lu98y6f/Summit-to-Sea-Tamara-Farnsworth-Interview-Oct.-28-2024.mov?rlkey=8vm194ggpo241sl727eecmi35&st=d4na7zxk&dl=0

    (Transcription attached)

    Photographs – Summit-to-Sea retention basin test bores (Oct. 28, 2024):

    https://www.dropbox.com/scl/fo/d6b9cq0o43c3tg17n04s7/AKOCls_yZ0h2Es2zH5LaPjw?rlkey=u0wkyrkukknufksnbwiyvu9ox&st=r07u1y8q&dl=0

     

    Photographs – Summit-to Seam project area ground and aerials:

    https://www.dropbox.com/scl/fo/3dbdmwk1mw4kg3jp59ena/AO7_SgbyXYQ7J_mQSeYY-vs?rlkey=d6l30jexzcdcyoq40zp599grf&st=yx1d9h0l&dl=0

    (Cut sheet attached)

     

     

    Media Contact: 

    Dan Dennison 

    Communications Director 

    808-587-0396 

    [email protected] 

    MIL OSI USA News –

    January 26, 2025
  • MIL-OSI: FINNOVATE ACQUISITION CORP. ANNOUNCES REVISED MONTHLY SPONSOR CONTRIBUTION OF $0.05 PER SHARE TO TRUST ACCOUNT FOR PROPOSED EXTENSION AND POSTPONEMENT OF SHAREHOLDER MEETING TO 10:00 AM EASTERN TIME NOVEMBER 6, 2024

    Source: GlobeNewswire (MIL-OSI)

    Boston, MA, Nov. 01, 2024 (GLOBE NEWSWIRE) — Finnovate Acquisition Corp. (“Finnovate” or the “Company”) (Nasdaq: “FNVT”, “FNVTU”, “FNVTW”) announced today that, in connection with the Company’s upcoming extraordinary general meeting of shareholders (the “Special Meeting”) to consider and approve an extension of time for the Company to consummate an initial business combination from November 8, 2024 to May 8, 2025 (the “Extension”), Finnovate Sponsor, L.P. (the “Sponsor”) or its designees have agreed to revise their intended contribution to support the Extension, such that they will contribute to the Company as a loan an aggregate of $0.05 for each Class A ordinary share that is not redeemed, for each calendar month (commencing on November 8, 2024 and on the 8th day of each subsequent month) until May 8, 2025 (each, an “Extension Period”), or portion thereof, that is needed to complete an initial business combination (the “Contribution”). For example, if the Company takes until May 8, 2025 to complete its initial business combination, which would represent six calendar months, the Sponsor or its designees would make aggregate Contributions resulting in a redemption amount of approximately $11.91 per unredeemed share, in comparison to the current redemption amount of $ approximately 11.61 per share.

    Each Contribution will be deposited in the trust account within seven calendar days from the beginning of each Extension Period (or portion thereof), and any Contribution is conditioned upon the implementation of the Extension. No Contribution will occur if the Extension is not approved or is not completed. The amount of each Contribution will not bear interest and will be repayable by the Company to the Sponsor or its designees upon consummation of its initial business combination. The Company will have the sole discretion whether to continue extending for additional calendar months until May 8, 2025. If the Company opts not to utilize any remaining portion of the Extension Period, then the Company will liquidate and dissolve promptly in accordance with its Articles, and its Sponsor’s obligation to make additional contributions will terminate.

    In connection with the above announcement of the Contribution to be made by the Sponsor or its designees if the Extension is approved, the Company is also postponing the Special Meeting from the originally scheduled 10:00 a.m. Eastern time on Friday, November 1, 2024, to 10:00 a.m. Eastern time on Wednesday, November 6, 2024. At the Special Meeting, shareholders will be asked to vote on the proposal to extend the date by which the Company must consummate an initial business combination from November 8, 2024 to May 8, 2025, or such earlier date as determined by the Company’s board of directors.

    As a result of this change, the Special Meeting will now be held at 10:00 a.m., Eastern time, on November 6, 2024, via a live webcast at https://www.cstproxy.com/finnovateacquisition/egm2024. Also as a result of this change, the deadline for holders of the Company’s Class A ordinary shares issued in the Company’s initial public offering to submit their shares for redemption in connection with the Extension, is being extended to 5:00 p.m., Eastern time, on Monday, November 4, 2024.

    The Company plans to continue to solicit proxies from shareholders during the period prior to the Special Meeting. Only the holders of the Company’s ordinary shares as of the close of business on October 2, 2024, the record date for the Special Meeting, are entitled to vote at the Special Meeting.

    About Finnovate Acquisition Corp.

    Finnovate Acquisition Corp. (Nasdaq: FNVT) is a blank check company incorporated in the Cayman Islands with the purpose of acquiring one and more businesses and assets, via a merger, capital stock exchange, asset acquisition, stock purchase, and reorganization.

    Forward-Looking Statements

    This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. These forward-looking statements and factors that may cause such differences include, without limitation, uncertainties relating to the Company’s shareholder approval of the Extension, its inability to complete an initial business combination within the required time period or, and other risks and uncertainties indicated from time to time in filings with the Securities and Exchange Commission (the “SEC”), including the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023 under the heading “Risk Factors” and in other reports the Company has filed, or to be filed, with the SEC. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

    Participants in the Solicitation

    Finnovate and its directors, executive officers, other members of management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies from the securityholders of the Company in favor of the approval of the Extension Proposal. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of the Company’s directors and officers in the Company’s definitive proxy statement filed with the SEC on October 15, 2024 (as may be amended, the “Proxy Statement”), which may be obtained free of charge from the sources indicated above.

    No Offer or Solicitation

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

    Additional Information and Where to Find It

    Finnovate urges investors, shareholders and other interested persons to read the Proxy Statement as well as other documents filed by the Company with the SEC, because these documents will contain important information about the Company and the Extension. Shareholders may obtain copies of the Proxy Statement, without charge, at the SEC’s website at www.sec.gov or by directing a request to: Advantage Proxy, Inc., P.O. Box 10904, Yakima, WA 98909, Attn: Karen Smith.

    INVESTOR RELATIONS CONTACT

    Finnovate Acquisition Corp.
    Calvin Kung
    265 Franklin Street
    Suite 1702
    Boston, MA 02110
    +1 (424) 253-0908

    The MIL Network –

    January 26, 2025
  • MIL-OSI: Northway Financial, Inc. Announces Third Quarter Earnings

    Source: GlobeNewswire (MIL-OSI)

    NORTH CONWAY, N.H., Nov. 01, 2024 (GLOBE NEWSWIRE) — Northway Financial, Inc. (the “Company”) (OTCQB: NWYF), the parent company of Northway Bank (the “Bank”), today reported net income for the quarter ended September 30, 2024 of $1.2 million, or $0.45 per basic common share, compared to $1.6 million, or $0.58 per basic common share for the quarter ended September 30, 2023. For the nine months ended September 30, 2024, the Company reported net income of $3.6 million, or $1.31 per basic common share, compared to $4.7 million, or $1.71 per basic common share for the same period in 2023.

    President and CEO William J. Woodward commented: “During the third quarter we continued to reduce our reliance on wholesale funding by putting a focus on retaining deposits and limiting our lending. Wholesale funding decreased by $122 million, significantly reducing our reliance on wholesale funding. The third quarter was marked by the announcement of our pending merger with Camden National Corporation. The closing date of the merger is still to be determined but we anticipate the merger to be completed in the first quarter of 2025. We will be holding a special shareholder meeting to approve the merger agreement. The details of the merger and the shareholder meeting will be sent to all shareholders in the coming weeks. Please look out for the information and return your proxy card as soon as possible. The Board of Directors have unanimously approved the merger, and your support, as always, is greatly appreciated.”

    Financial Highlights

    • Total Assets were $1.2 billion, Loans, Net, were $900 million, and Total Deposits were $1 billion at September 30, 2024.
    • Total Assets decreased $137 million, or 10%, compared to September 30, 2023, driven by decreases in Loans, Net of $55 million, Cash and Due from Banks and Interest-Bearing Deposits of $51 million and Securities Available-for-Sale at Fair Value of $20 million.
    • The decrease in Loans, Net was led by a decrease in Commercial Real Estate loans of $25 million, Residential Real Estate loans of $22 million, and Consumer Loans of $6 million, compared to September 30, 2023.
    • Non-Municipal Deposits (excluding brokered deposits) increased $18 million compared to September 30, 2023 led by an increase in Retail Deposits of $21 million or 4%.
    • The increase in Retail Deposits was led by an increase in Time Deposits of $69 million offset by a decrease in Non-Maturity Deposits of $48 million.
    • Non-Municipal Deposits (excluding brokered deposits) increased $18 million, or 6%, compared to December 31, 2023.
    • Wholesale Funding, which includes brokered deposits and borrowings, decreased $122 million, or 49%, compared to September 30, 2023, and $82 million, or 39%, compared to December 31, 2023.
    • Total Equity increased $21 million, or 37%, compared to September 30, 2023, primarily from an increase in the market value of Securities Available-for-Sale at Fair Value.
    • Net Income for the nine-month period ending September 30, 2024, was $3.6 million, or $1.31, per basic common share.
    • Year-to-date Net Interest Income was $2.9 million lower than the same period last year driven by an increase in interest expense of $2.2 million.
    • The year-to-date Net Interest Margin decreased from 2.67% to 2.59% as funding costs increased .44% while the yield on earning assets increased 0.25%, compared to year-to-date September 30, 2023.
    • Nonperforming loans as a percentage of total loans stood at 0.41% compared to 0.31% at September 30, 2023.
    • Total delinquent loans as a percentage of total loans were 0.06% compared to 0.02% at September 30, 2023.
    • The Bank’s regulatory capital ratios at September 30, 2024 exceeded all well-capitalized ratios as defined under FDIC’s prompt corrective action rules.
    • The market price of our common stock, as of October 31, 2024, was $32.35.
     
    Northway Financial, Inc.
    Selected Financial Highlights
    (Unaudited)
                   
    (Dollars in thousands, except per share data) Three Months Ended   Nine Months Ended
      9/30/2024   9/30/2023   9/30/2024   9/30/2023
                   
    Interest and Dividend Income $ 12,772   $ 13,372     $ 37,576   $ 38,260  
    Interest Expense   5,046     4,572       14,223     12,002  
    Net Interest and Dividend Income   7,726     8,800       23,353     26,258  
    Provision for Credit Losses   –     –       –     –  
    All Other Noninterest Income   1,445     1,036       3,819     3,535  
    Noninterest Expense   8,041     7,720       23,837     24,030  
    Net Income Before Gain (Loss) on Securities   1,130     2,116       3,335     5,763  
    Gain (Loss) on Securities Available-for-Sale, Net   –     –       –     –  
    (Loss) Gain on Marketable Equity Securities   249     (199 )     515     (309 )
    Income before Income Tax (Benefit) Expense   1,379     1,917       3,850     5,454  
    Income Tax (Benefit) Expense   133     305       233     744  
    Net Income $ 1,246   $ 1,612     $ 3,617   $ 4,710  
    Net Income Available to Common Stockholders $ 1,246   $ 1,612     $ 3,617   $ 4,710  
    Earnings per Common Share, Basic $ 0.45   $ 0.58     $ 1.31   $ 1.71  
                   
                   
        9/30/2024   12/31/2023   9/30/2023  
                   
    Balance Sheet            
    Total Assets $ 1,221,077   $ 1,290,467   $ 1,357,654  
    Cash and Due from Banks and Interest-Bearing Deposits   22,584     68,887     74,139  
    Securities Available-for-Sale, at Fair Value   241,224     246,756     261,502  
    Marketable Equity Securities, at Fair Value   3,104     2,589     3,405  
    Loans Held-for-Sale   1,555     –     –  
    Loans, Net   900,517     909,781     956,053  
    Total Liabilities   1,141,363     1,217,230     1,299,301  
    Non Municipal Non-Maturity Deposits   712,708     734,741     763,784  
    Municipal Non-Maturity Deposits   113,959     133,100     138,674  
    Certificates of Deposit   183,576     127,726     143,868  
    Securities Sold Under Agreements to Repurchase   49,722     55,353     68,728  
    Short-Term Borrowings   –     65,000     78,600  
    Long-Term Debt   45,000     60,000     60,000  
    Junior Subordinated Debentures   20,620     20,620     20,620  
    Stockholders’ Equity   79,714     73,237     58,353  
    Profitability and Efficiency            
    Net Interest Margin   2.59 %   2.63 %   2.67 %
    Yield on Earning Assets   4.11     3.90     3.86  
    Cost of Interest Bearing Liabilities   1.98     1.63     1.54  
    Book Value Per Share of Common Shares Outstanding $ 28.97   $ 26.62   $ 21.21  
    Tangible Book Value Per Share of Common Shares Outstanding   25.18     22.83     17.42  
    Common Shares Outstanding   2,751,650     2,751,650     2,751,650  
    Weighted Average Number of Common Shares, Basic   2,751,650     2,751,650     2,751,650  
    Capital Ratios for the Bank            
    Tier 1 Core Capital to Average Assets   9.09 %   8.30 %   8.23 %
    Common Equity Risk-Based Capital   15.27     14.40     13.91  
    Tier 1 Risk-Based Capital   15.27     14.40     13.91  
    Total Risk-Based Capital   16.52     15.65     15.16  
     

    About Northway Financial, Inc.

    Northway Financial, Inc., headquartered in North Conway, New Hampshire, is a bank holding company. Through its subsidiary bank, Northway Bank, the Company offers a broad range of financial products and services to individuals, businesses, and the public sector from its 16 banking offices and its loan production offices located in Bedford and Portsmouth, New Hampshire.

    Forward-looking Statements

    Statements included in this press release that are not historical or current fact are “forward-looking statements” made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995 and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical earnings and those presently anticipated or projected. Northway Financial, Inc. disclaims any obligation to subsequently revise any forward-looking statements to reflect events or circumstances after the date of such statements, or to reflect the occurrence of anticipated or unanticipated events or circumstances.

    No Offer or Solicitation

    This communication is not a proxy statement or solicitation or a proxy, consent or authorization with respect to any securities or in respect of the pending merger of Camden National Corporation (“Camden National”) and the Company (the “Merger”) and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Camden National, the Company or the combined company, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the U.S. Securities Act of 1933, as amended, and otherwise in accordance with applicable law.

    Additional Information and Where to Find It

    In connection with the Merger, Camden National has filed a registration statement on Form S-4 with the SEC, which also includes a proxy statement of Northway and a prospectus of Camden National, and Camden National will file other documents regarding the proposed transaction with the SEC. A definitive proxy statement/prospectus will also be sent to Northway stockholders seeking the required stockholder approval of the proposed transaction. BEFORE MAKING ANY VOTING OR INVESTMENT DECISION, INVESTORS AND SECURITY HOLDERS OF NORTHWAY ARE URGED TO CAREFULLY READ THE ENTIRE REGISTRATION STATEMENT AND PROXY STATEMENT/PROSPECTUS, WHEN THEY BECOME AVAILABLE, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. The documents filed by Camden National with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov. In addition, the documents filed by Camden National may be obtained free of charge under the “Investor Relations” section of Camden National’s website at http://www.camdennational.bank. Alternatively, these documents, when available, can be obtained free of charge from Camden National upon written request to Camden National Corporation, Attn: Corporate Secretary, 2 Elm Street, Camden, Maine 04843.

    Participants in Solicitation

    Camden National, Northway, and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction under the rules of the U.S. Securities and Exchange Commission (the “SEC”). Information regarding Camden National’s directors and executive officers is available in its definitive proxy statement, which was filed with the SEC on April 5, 2024, and certain other documents filed by Camden National with the SEC. Other information regarding the participants in the solicitation of proxies in respect of the proposed transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC. Free copies of these documents, when available, may be obtained as described in the preceding paragraph.

    The MIL Network –

    January 26, 2025
  • MIL-OSI: Oxford Lane Capital Corp. Announces Net Asset Value and Selected Financial Results for the Second Fiscal Quarter and Declaration of Distributions on Common Stock for the Months Ending January, February, and March 2025

    Source: GlobeNewswire (MIL-OSI)

    GREENWICH, Conn., Nov. 01, 2024 (GLOBE NEWSWIRE) — Oxford Lane Capital Corp. (Nasdaq: OXLC) (NasdaqGS: OXLCP) (NasdaqGS: OXLCL) (NasdaqGS: OXLCO) (NasdaqGS: OXLCZ) (NasdaqGS: OXLCN) (NasdaqGS: OXLCI) (“Oxford Lane,” the “Company,” “we,” “us” or “our”) announced today the following financial results and related information: 

    • On October 24, 2024, our Board of Directors declared the following distributions on our common stock:
    Month Ending Record Date Payment Date Amount Per Share
    January 31, 2025 January 17, 2025 January 31, 2025 $0.09
    February 28, 2025 February 14, 2025 February 28, 2025 $0.09
    March 31, 2025 March 17, 2025 March 31, 2025 $0.09
     
    • Net asset value (“NAV”) per share as of September 30, 2024 stood at $4.76, compared with a NAV per share on June 30, 2024 of $4.91.
    • Net investment income (“NII”), calculated in accordance with U.S. generally accepted accounting principles (“GAAP”), was approximately $67.2 million, or $0.22 per share, for the quarter ended September 30, 2024.
    • Our core net investment income (“Core NII”) was approximately $99.4 million, or $0.32 per share, for the quarter ended September 30, 2024.
      • Core NII incorporates all applicable cash distributions received, or entitled to be received (if any, in either case), on our collateralized loan obligation (“CLO”) equity investments. See additional information under “Supplemental Information Regarding Core Net Investment Income” below.
      • We emphasize that our taxable income may differ materially from our GAAP NII and/or our Core NII, and that neither GAAP NII nor Core NII should be relied upon as indicators of our taxable income.
    • Total investment income for the quarter ended September 30, 2024 amounted to approximately $105.1 million, which represented an increase of approximately $15.4 million from the quarter ended June 30, 2024.
      • For the quarter ended September 30, 2024 we recorded investment income as follows:
        • Approximately $98.3 million from our CLO equity and CLO warehouse investments, and
        • Approximately $6.8 million from our CLO debt investments and other income.
    • Our total expenses for the quarter ended September 30, 2024 were approximately $37.9 million, compared with total expenses of approximately $33.8 million for the quarter ended June 30, 2024.
    • As of September 30, 2024, the following metrics applied (note that none of these metrics represented a total return to shareholders):
      • The weighted average yield of our CLO debt investments at current cost was 17.3%, down from 17.4% as of June 30, 2024.
      • The weighted average effective yield of our CLO equity investments at current cost was 16.5%, down from 16.8% as of June 30, 2024.
      • The weighted average cash distribution yield of our CLO equity investments at current cost was 24.1%, down from 26.9% as of June 30, 2024.
    • For the quarter ended September 30, 2024, we recorded a net increase in net assets resulting from operations of approximately $17.9 million, or $0.06 per share, comprised of:
      • NII of approximately $67.2 million;
      • Net realized gains of approximately $3.2 million; and
      • Net unrealized depreciation of approximately $52.5 million.
    • During the quarter ended September 30, 2024, we made additional investments of approximately $540.0 million, and received approximately $160.2 million from sales and repayments of our CLO investments.
    • For the quarter ended September 30, 2024, we issued a total of approximately 48.1 million shares of common stock pursuant to an “at-the-market” offering. After deducting the sales agent’s commissions and offering expenses, this resulted in net proceeds of approximately $252.0 million. As of September 30, 2024, we had approximately 337.3 million shares of common stock outstanding.
    • On October 24, 2024, our Board of Directors declared the required monthly dividends on our 6.25% Series 2027 Term Preferred Shares, 6.00% Series 2029 Term Preferred Shares, and 7.125% Series 2029 Term Preferred Shares as follows:
    Preferred
    Shares Type
    Per Share Dividend Amount Declared Record Dates Payment Dates
    6.25% – Series 2027 $ 0.13020833  December 17, 2024, January 17, 2025, February 14, 2025 December 31, 2024, January 31, 2025, February 28, 2025
    6.00% – Series 2029 $ 0.12500000  December 17, 2024, January 17, 2025, February 14, 2025 December 31, 2024, January 31, 2025, February 28, 2025
    7.125% – Series 2029 $ 0.14843750  December 17, 2024, January 17, 2025, February 14, 2025 December 31, 2024, January 31, 2025, February 28, 2025
     

    In accordance with their terms, each of the 6.25% Series 2027 Term Preferred Shares, 6.00% Series 2029 Term Preferred Shares, and 7.125% Series 2029 Term Preferred Shares will pay a monthly dividend at a fixed rate of 6.25%, 6.00% and 7.125%, respectively, of the $25.00 per share liquidation preference, or $1.5625, $1.5000 and $1.78125 per share per year, respectively. This fixed annual dividend rate is subject to adjustment under certain circumstances, but will not, in any case, be lower than 6.25%, 6.00% and 7.125% per year, respectively, for each of the 6.25% Series 2027 Term Preferred Shares, 6.00% Series 2029 Term Preferred Shares and 7.125% Series 2029 Term Preferred Shares.

    Supplemental Information Regarding Core Net Investment Income 

    We provide information relating to Core NII (a non-GAAP measure) on a supplemental basis. This measure is not provided as a substitute for GAAP NII, but in addition to it. Our non-GAAP measures may differ from similar measures by other companies, even in the event of similar terms being utilized to identify such measures. Core NII represents GAAP NII adjusted for additional applicable cash distributions received, or entitled to be received (if any, in either case), on our CLO equity investments. Oxford Lane’s management uses this information in its internal analysis of results and believes that this information may be informative in assessing the quality of Oxford Lane’s financial performance, identifying trends in its results and providing meaningful period-to-period comparisons.

    Income from investments in the “equity” class securities of CLO vehicles, for GAAP purposes, is recorded using the effective interest method; this is based on an effective yield to the expected redemption utilizing estimated cash flows, at current cost, including those CLO equity investments that have not made their inaugural distribution for the relevant period end. The result is an effective yield for the investment in which the respective investment’s cost basis is adjusted quarterly based on the difference between the actual cash received, or distributions entitled to be received, and the effective yield calculation. Accordingly, investment income recognized on CLO equity securities in the GAAP statement of operations differs from the cash distributions actually received by the Company during the period (referred to below as “CLO equity adjustments”). 

    Furthermore, in order for the Company to continue qualifying as a regulated investment company for tax purposes, we are required, among other things, to distribute at least 90% of our investment company taxable income annually. While Core NII may provide a better indication of our estimated taxable income than GAAP NII during certain periods, we can offer no assurance that will be the case, however, as the ultimate tax character of our earnings cannot be determined until after tax returns are prepared at the close of a fiscal year. We note that this non-GAAP measure may not serve as a useful indicator of taxable earnings, particularly during periods of market disruption and volatility, and, as such, our taxable income may differ materially from our Core NII.

    The following table provides a reconciliation of GAAP NII to Core NII for the three months ended September 30, 2024:

      Three Months Ended  
    September 30, 2024  
        Amount   Per Share
    Amount
    GAAP net investment income $ 67,188,478   $ 0.22  
    CLO equity adjustments   32,164,525     0.10  
    Core net investment income $ 99,353,003   $ 0.32  
     

    We will host a conference call to discuss our second quarter results today, Friday, November 1, 2024 at 9:00 AM ET. Please call 1-833-470-1428, access code number 436588 to participate. A recording of the conference call will be available for replay for approximately 30 days following the call. The replay number is 1-866-813-9403, and the replay passcode is 813197.  

    A presentation containing additional details regarding our quarterly results of operations has been posted under the Investor Relations section of our website at www.oxfordlanecapital.com. 

    About Oxford Lane Capital Corp. 

    Oxford Lane Capital Corp. is a publicly-traded registered closed-end management investment company principally investing in debt and equity tranches of CLO vehicles. CLO investments may also include warehouse facilities, which are financing structures intended to aggregate loans that may be used to form the basis of a CLO vehicle.

    Forward-Looking Statements

    This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact (including statements containing the words “believes,” “plans,” “anticipates,” “expects,” “estimates” and similar expressions) should also be considered to be forward-looking statements. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties.  Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements. These factors are identified from time to time in our filings with the Securities and Exchange Commission. We undertake no obligation to update such statements to reflect subsequent events, except as may be required by law.

    Contact:
    Bruce Rubin
    203-983-5280

    The MIL Network –

    January 26, 2025
  • MIL-OSI Europe: AFRICA/ALGERIA – Resignation and appointment of bishop of Laghouat

    Source: Agenzia Fides – MIL OSI

    Saturday, 25 January 2025

    Vatican City (Agenzia Fides) – Pope Francis has accepted the resignation from the pastoral governance of the Diocese of Laghouat (Algeria) presented by His Exc. Msgr. John Gordon MacWilliam, M. Afr. At the same time the Holy Father has appointed the Reverend Fr. Diego Ramón Sarrió Cucarella, M.Afr., former dean of the Pontifical Institute of Arabian and Islamic Studies (PISAI) in Rome, as bishop of Laghouat, Algeria.Msgr. Diego Ramón Sarrió Cucarella was born on 20 July 1971 in Valencia, Spain. He studied philosophy at the Faculty of Theology of Madrid, and theology at Tangaza University, Nairobi, Kenya.He was ordained a priest on 2 June 2001.After ordination, he held the role of animator at the Cultural and Saharian Documentation Centre in Ghardaïa, diocese of Laghouat (2001-2003). He was awarded a licentiate at PISAI (2004-2006) and went on to serve as director of the diocesan library of Tunisi (2006-2009). He obtained a doctorate in Islamic studied from Georgetown University in Washington D.C. (2009-2013), and went on to serve as director (2014-2017) and president (2017-2024) of PISAI.He teaches Islamic subjects at the Pontifical Lateran University of Rome, and is a consultor of the Dicastery for Interreligious Dialogue. (Agenzia Fides, 25/1/2025)
    Share:

    MIL OSI Europe News –

    January 26, 2025
  • MIL-OSI: KK MINER Unveils Revolutionary Cloud Mining Platform to Maximize Profits in Bitcoin (BTC) and Dogecoin (DOGE)

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Jan. 25, 2025 (GLOBE NEWSWIRE) — With cryptocurrency markets experiencing renewed momentum in 2024, KK MINER is making headlines by introducing its groundbreaking cloud mining platform designed to empower investors to maximize returns on Bitcoin (BTC), Dogecoin (DOGE), and other major cryptocurrencies. Boasting the potential to earn up to $30,000 daily, KK MINER is poised to transform how users engage with cryptocurrency mining by combining cutting-edge technology with user-centric features.

    Introducing KK MINER

    KK MINER is an advanced cloud mining platform that simplifies cryptocurrency mining by eliminating the complexities of traditional setups. Users can rent hash power to mine popular cryptocurrencies such as Bitcoin (BTC), Dogecoin (DOGE), XRP, and more. By managing all technical aspects, including hardware maintenance and energy costs, KK MINER enables users to focus entirely on generating passive income and diversifying their investments.

    Key Features and Benefits

    • High Efficiency and Stability: Leveraging cutting-edge data centers and advanced mining equipment, KK MINER ensures efficient and reliable returns for its users.
    • Robust Security: Multi-level security protocols, including SSL encryption, two-factor authentication, and 24/7 monitoring, safeguard user funds and information.
    • Flexible Investment Options: With a variety of investment plans, KK MINER caters to both short-term and long-term financial goals. Regular promotions further enhance user benefits.

    Platform Advantages

    • Instant $10 registration bonus.
    • High daily profit potential with no hidden fees.
    • Support for over 10 cryptocurrencies, including BTC, DOGE, and ETH.
    • Lucrative affiliate program offering up to $40,000 in referral bonuses.
    • McAfee® and Cloudflare®-backed security with 24/7 customer support.

    How to Get Started

    1. Register: Visit the KK MINER official website and sign up.
    2. Choose a Plan: Select a mining plan that suits your investment objectives.
    3. Start Mining: Let KK MINER’s advanced technology do the work for you.
    4. Receive Daily Payments: Enjoy consistent payouts, providing a stable income stream.

    Special Offers for New Users

    • Signup Bonus: New users receive a $10 instant bonus upon registration and earn $1 daily for free.
    • Referral Rewards: Invite friends and earn continuous rewards of 3% to 4.5% on their investments.

    Maximizing Earnings with KK MINER

    KK MINER’s investment plans are designed to meet diverse financial needs. Here is an example of its earning potential:

    • Investment Example:
      • Initial Investment: $50,000
      • Daily Interest Rate: 2.50%
      • Daily Passive Income: $1,250
      • Total Earnings after 28 Days: $35,000, with a final balance of $85,000 (principal + earnings).

    Join the Future of Wealth Creation

    As the cryptocurrency market continues to grow, KK MINER leads the way by providing an accessible and efficient solution for investors. Whether you’re starting your crypto journey or are a seasoned investor, KK MINER’s user-friendly platform, unparalleled security, and high earning potential make it the ideal choice.

    For more information, visit KK MINER’s official website at https://kkminer.top/ or download the mobile app for easy access on the go.

    Contact Details

    Edwards Sherry
    Business Manager
    info@kkminer.top 

    Disclaimer: This content is provided by KK MINER . The views expressed are solely those of the provider and do not constitute financial or investment advice. Readers should verify all information and consult a financial advisor before making decisions. Investing involves risks, including loss of principal. Past performance does not guarantee future results. Neither the sponsor nor any associated parties shall be held liable for any errors, omissions, or inaccuracies in the content or for any actions taken based on the information provided. Reliance is at your own risk.

    Photos accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/c86322b8-215d-47a7-84d5-0287df1f56dd

    https://www.globenewswire.com/NewsRoom/AttachmentNg/7b1f66ba-5d95-492e-b41d-239d980d1480

    https://www.globenewswire.com/NewsRoom/AttachmentNg/25b4131c-6131-4670-a092-bfece14c8c18

    The MIL Network –

    January 26, 2025
  • MIL-OSI Russia: Young scientists from the State University of Management presented the results of their research at the All-Russian forum “Science of the Future – Science of the Young”

    Translation. Region: Russian Federation –

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

    From October 29 to November 1, the IX All-Russian Youth Scientific Forum “Science of the Future – Science of the Young” is being held at the Samara National Research University named after Academician S.P. Korolev.

    The forum is attended by more than 500 Russian and foreign researchers, winners of the mega-grant program, heads of world scientific schools and laboratories, young scientists, students and postgraduates.

    At the opening ceremony, the participants were addressed with welcoming words by the Head of the Department of the Presidential Administration of Russia for Scientific and Educational Policy Tatyana Gracheva, the Director of the Department of State Policy in the Sphere of Scientific and Technological Development of the Ministry of Education and Science of Russia Anton Shashkin, the Chairperson of the Committee on Education and Science of the Samara Regional Duma Svetlana Ilyina, the President of Samara University, Academician of the Russian Academy of Sciences Viktor Soyfer, the Rector of Samara University Vladimir Bogatyrev and the Scientific Director of Samara University, Academician of the Russian Academy of Sciences Evgeny Shakhmatov.

    The main topics of the forum’s business program were the search for effective ways to attract young people to solve the problems outlined in the Strategy for Scientific and Technological Development of the Russian Federation, and the formation of an effective system of interaction between science, technology and production. At the plenary sessions, leading scientists and experts spoke about new trends in aircraft manufacturing and space exploration, quantum technologies and artificial intelligence, problems of neurodegeneration and how young researchers can build a successful career in science.

    The State University of Management was represented at the forum by Associate Professor of the Innovation Management Department Denis Serdechny and Director of the Business Incubator Dmitry Rogov.

    Denis Serdechny spoke at the opening of the Information Technology and Mathematics section with a scientific report on software and hardware systems and intelligent platform digital solutions in the field of agro-industrial technologies. In his report, the associate professor of the Department of Innovation Management spoke about the competencies of the State University of Management in building ecosystems and platform solutions for business, as well as about the results of research within the framework of a large scientific project – developed methods for assessing the digital maturity of agricultural enterprises, the concept of a data parser for a digital platform and the concept of an intelligent decision support system for computer vision for agricultural tasks.

    Dmitry Rogov opened the Engineering Sciences section by presenting a report on the application of mass service theory tools to optimize the operation of transport infrastructure facilities. Particular attention was paid to simulation modeling, which is used both at the design stage of new infrastructure facilities, which are complex mass service systems, and to optimize the operation of existing ones. The SMU postgraduate student demonstrated to the meeting participants a transport hub model created in the AnyLogic environment, formed on the basis of several logical layers: a two-dimensional scheme, a process diagram, and 3D visualization, and presented the results of an assessment of the qualitative indicators of the system’s functioning, necessary for further analysis and management decision-making.

    Subscribe to the TG channel “Our GUU” Date of publication: 10/31/2024

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

    MIL OSI Russia News –

    January 25, 2025
  • MIL-OSI: HUMAN Uncovers Phish ‘n’ Ships Scheme That Stole Tens of Millions from Unsuspecting Shoppers

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, Oct. 31, 2024 (GLOBE NEWSWIRE) — HUMAN Security, Inc., the global cybersecurity leader in disrupting bot attacks and preventing digital fraud and abuse, announced today that its Satori Threat Intelligence and Research team has uncovered a complex fraud operation called Phish ‘n’ Ships that stole tens of millions of dollars from unsuspecting consumers hunting for hard-to-find items.

    Named for the operation’s ability to phish consumers of their payment card information while not shipping them the items they believe they paid for, the scheme centered on fake web shops that abuse digital payment providers to steal consumers’ money and payment card information. The Satori team identified over 1,000 infected websites used by the threat actors to stage fake product links, which redirected to 200+ fake webshops with 121 still active during the investigation. Through consultations with the affected payment processors, Phish ’n’ Ships has been disrupted: the fake product listings that made up a key source of traffic to the fake web stores have been removed by Google from the search results, and the threat actors’ accounts have been removed from the payment processor platforms. Dozens of storefronts were taken down in collaboration with HUMAN partners. However, the operation is still active, and Satori researchers continue to monitor the threat actors for new evolutions of the scheme.

    “Phish ‘n’ Ships is especially devious because it stole tens of millions of dollars from unsuspecting consumers hunting for hard-to-find items,” said Gavin Reid, Chief Information Security Officer at HUMAN. “We’ve estimated that hundreds of thousands of consumers were victimized over the past five years due to this scheme. Especially during the holiday season when more consumers will be online shopping for gifts, helping our clients protect their customers from threats like these is paramount.”

    The scheme reinforces the role digital advertising plays in fraud, since ads and sponsored search listings lead unsuspecting consumers to fake web stores. The threat actors behind Phish ‘n’ Ships used well-known vulnerabilities to infect over 1,000 websites and stage fake product listings that reached the top of search results in Dutch, English, French, and German. The techniques used included coordination of search results, SEO poisoning and cashing out with fake shops.

    “Phish ‘n’ Ships underscores the value across the entire customer journey of a unified approach to digital fraud and abuse,” said Lindsay Kaye, Vice President of Threat Intelligence at HUMAN. “Components of the scheme targeted consumers at every stage in their buying journey, from seeing and clicking on an ad to arriving on and interacting with a web store to checking out through a payment provider integration. Understanding and stopping Phish ‘n’ Ships requires a full-spectrum plan of attack.”

    HUMAN customers were not directly affected by this threat. Our Satori Threat Intelligence and Research team proactively hunts for—and disrupts—new and emerging threats like Phish ‘n’ Ships, protecting HUMAN customers from the impacts of digital fraud. HUMAN customers enjoy priority access to information about investigations like Phish ‘n’ Ships and benefit from the enhanced AI-derived capabilities of our Decision Engine.

    About HUMAN

    HUMAN is a leading cybersecurity company committed to protecting the integrity of the digital world. We ensure that every digital interaction, transaction, and connection is authentic, secure, and human. The Human Defense Platform safeguards the entire customer journey with high-fidelity decision-making that defends against bots, fraud, and digital threats. Each week, HUMAN verifies 20 trillion digital interactions, providing unparalleled telemetry data to enable rapid, effective responses to even the most sophisticated threats. Recognized by our customers as a G2 Leader, HUMAN continues to set the standard in cybersecurity. To ensure your digital connections are trusted, visit www.humansecurity.com

    Contact:

    Masha Krylova, Director of Communications

    press@humansecurity.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/66bca057-8466-45cc-8773-a20bf18312f2

    The MIL Network –

    January 25, 2025
  • MIL-OSI: Significant Technology Upgrades Fueling Strong Growth Opportunities for U.S. Commercial Drone Market

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., Oct. 31, 2024 (GLOBE NEWSWIRE) — FN Media Group News Commentary – The commercial drone industry is witnessing rapid growth and transforming various sectors such as agriculture, delivery and logistics, and energy among others. Advancements in drone technologies have led to increased demand and utilization in industries such as filming, emergency response, construction, and real estate. Additionally, drone software solution providers and manufacturers are continuously innovating and upgrading their offerings to cater to diverse market needs. As governments establish regulatory frameworks, the integration of drones into industries is expected to accelerate. This, in turn, is likely to create lucrative opportunities for market expansion over the forecast period. A report from Grand View Research projected that the U.S. commercial drone market size is expected to grow at a compound annual growth rate (CAGR) of 9.1% through 2030. The report said: “Furthermore, favorable legislations and rising use of commercial drones by authorities in the U.S. is expected to attract various industries to utilize drones for different processes. Similarly, government authorities across the region are constantly working on framing new regulations for the commercial applications of drones. This is attributed to increased focus on the adoption of commercial drones due to their economic potential, while prioritizing the safety and security of the country. This, in turn, is anticipated to drive the U.S. commercial drone market growth over the forecast period.” Active Tech Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), AgEagle Aerial Systems Inc. (NYSE: UAVS), EHang Holdings Limited (NASDAQ: EH), Ondas Holdings Inc. (NASDAQ: ONDS).

    Grand View Research continued: “Moreover, the U.S. is expected to witness a convergence of technologies, societal acceptance as well as a favorable regulatory landscape that is further expected to increase demand for commercial drones in various industries. The continuous development in drone technological capabilities and related software, their commercial applications, as well as the associated benefits, are anticipated to experience steady expansion as it offers added features and easy control to drone operators. Such type of developments by market players are expected to drive the U.S. commercial market growth. Additionally, the introduction of updated drone regulations has optimized the procedure for legally conducting commercial drone operations. The positive regulations are expected to attract entrepreneurs to use commercial drones. For instance, in the U.S., some of the significant changes in the Federal Aviation Administration (FAA) regulation’s Part 107 update includes the removal of “section 333 exception” and relaxed standards for pilots. This change in regulations that are required for commercial operations of drones, is anticipated to drive the market growth over the forecast period.”

    ZenaTech Inc.’s (NASDAQ:ZENA) ZenaDrone Completes the First Phase of an IQ Nano Inventory Management Trial for Multinational Auto Parts Customer – ZenaTech, a technology company specializing in AI (Artificial Intelligence) drone solutions and enterprise SaaS (Software-as-a-Service) solutions, today announced that its subsidiary, ZenaDrone, has successfully completed the first phase of drone testing and 3D mapping, and is beginning the next phase of production of a paid trial for a multinational auto parts manufacturer. This production phase consists of flying automatic and fully autonomous flights of the IQ Nano drone in an inventory management application.

    Testing took place over several months at ZenaDrone’s production facility in Sharjah, United Arab Emirates (UAE) to ensure the smooth operation of the inventory scanning application. The 3D mapping took place just recently at the customer’s site consisting of scanning and mapping the warehouse area to create a 3D map that automates the drone flight path and its operations while in production.

    View video showing the IQ Nano in test flight here.

    The production phase is set to begin imminently and will consist of the IQ Nano flying and reading product and component bar codes, collecting information for verification and integration with the customer’s inventory management and accounting systems.

    “We look forward to the production phase and concluding a successful trial, proving the viability of the IQ Nano and enabling us to deliver our product to our customer. A successful trial also opens the potential to win additional business with this customer and to verifiably demonstrate IQ Nano’s utility for the benefit of attracting additional market interest. The revolutionary use of an indoor drone for productivity and cost savings value can be implemented across hundreds of warehouse facilities, turning a week-long activity like counting inventory into a day,” said CEO Shaun Passley, Ph.D. – Get the full details by visiting: https://www.financialnewsmedia.com/news-zena/

    Additional Groundbreaking ZenaTech Inc. Developments this week include:

    ZenaTech Enters the Drone Sensor and Components Market Establishing a New Taiwan Subsidiary to Win More US Defense Contracts for Its AI Drones – ZenaTech also announced it will establish a new company in Taiwan to manufacture drone sensors and components for use in the drone products produced by its subsidiary ZenaDrone. The new company, named Spider Vision Sensors Ltd., will ensure ZenaDrone’s products are compliant with the US National Defense Authorization Act (NDAA), an important requirement for the company to win more business with the US Military.

    Spider Vision Sensors Ltd. will manufacture drone sensors, electronics, and components such LiDAR (Light Detection and Ranging), thermal, infrared, multi-spectral and hyper sensors, cameras, and PBCs (Printed Circuit Boards). Having in-house manufactured sensors and components will enable ZenaDrone to have a steady supply to fulfill customer orders and drone production needs at its Sharjah, UAE, and future Arizona-based drone manufacturing facilities. Taiwan was selected due to its size and skills as an electronics hub, and the availability of low-cost alternative components versus those from China. The new company is currently at the prototype stage, and the manufacturing facility is expected to be open in November.

    “Establishing a drone sensor and components manufacturer in Taiwan will help bring our products to market faster and removes dependencies on any Chinese made electronics. This will position us to win more US military contracts via achieving Green UAS (Uncrewed Arial Systems) and Blue UAS certifications as an approved supplier,” said CEO Shaun Passley, Ph.D. Read this full release at: https://finance.yahoo.com/news/zenatech-enters-drone-sensor-components-113000155.html

    Other recent developments in the technology industry include:

    Kratos Defense & Security Solutions, Inc. (NASDAQ: KTOS), a Technology Company in the Defense, National Security and Global Markets, recently announced that it will publish financial results for the third quarter 2024 after the close of market on Thursday, November 7th. Management will discuss the Company’s operations and financial results in a conference call beginning at 2:00 p.m. Pacific (5:00 p.m. Eastern).

    The call will be available at www.kratosdefense.com. Participants may register for the call using this Online Form. Upon registration, all telephone participants will receive the dial-in number along with a unique PIN that can be used to access the call. For those who cannot access the live broadcast, a replay will be available on Kratos’ website.

    AgEagle Aerial Systems Inc. (NYSE: UAVS) a leading provider of best-in-class unmanned aerial systems (UAS), sensors and software solutions for customers worldwide in the commercial and government verticals, recently announced the appointment of Kevin Lowdermilk to the Company’s board of directors effective October 25, 2024.

    Company CEO, Bill Irby, commented, “It is a privilege to have Kevin join our board. His distinguished career and leadership in some of the most challenging technology sectors speak to his ability to drive success through vision, strategy and execution. We are grateful to work alongside him and leverage his expertise to support the future expansion of our global footprint in both government and commercial verticals, as we position the Company for long-term shareholder value.”

    EHang Holdings Limited (NASDAQ: EH), the world’s leading Urban Air Mobility (“UAM”) technology platform company, recently announced it has entered into a strategic partnership with the Civil Aviation Flight University of China (the “CAFUC”). Building upon the CAFUC’s extensive expertise in civil aviation education, research, and talent development, the two parties will collaborate on cultivating skilled personnel, including operators and maintenance staffs for EHang’s pilotless electric Vertical Take-Off and Landing (“eVTOL”) aircraft, and their training for personnel licenses and operational supervision. This partnership aims to address the surging demand for talents in the low-altitude economy and foster the sustainable, high-quality development of the civil unmanned aerial vehicle (“UAV”) industry.

    During a briefing of the State Council Information Office of China on October 8, 2024, Chunlin Li, Vice Chairman of the National Development and Reform Commission (“NDRC”), highlighted the booming low-altitude economy and the rising demand for UAV operators. It is estimated that China faces a talent shortage of up to 1 million in this field. The NDRC will continue enhancing job creation efforts and driving the development of strategic emerging industries such as the low-altitude economy and future industries.

    Ondas Holdings Inc. (NASDAQ:ONDS), a leading provider of private industrial wireless networks and commercial drone and automated data solutions, recently announced that its wholly-owned subsidiary Ondas Autonomous Systems Inc. (“OAS”) has entered into an investment agreement with a private investor group, including Charles & Potomac Capital, LLC (“Charles & Potomac”) and Privet Ventures LLC (“Privet Ventures”), for an investment of $3.5 million in convertible notes of OAS. The investment in OAS will support OAS’ business expansion plan and deliver on the substantial growth opportunity in the defense, security, and critical infrastructure and industrial markets targeted by OAS’ Optimus and Iron Drone autonomous drone platforms.

    “We are pleased to secure this initial investment to support the exceptional growth opportunities created by our OAS team across Airobotics and American Robotics,” said Eric Brock, Chairman and CEO of Ondas Holdings and OAS. “Indeed, we have a responsibility to now expand operations and accelerate growth at OAS to meet the urgent needs for security and intelligence for our critical military, government and industrial customers. I am personally investing $1.0 million in this transaction, via Privet Ventures, signaling my firm belief in the substantial value we are creating for all stakeholders including the investors in OAS and Ondas Holdings.”

    About FN Media Group:

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

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

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

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    SOURCE: FN Media Group

    The MIL Network –

    January 25, 2025
  • MIL-OSI USA: Remarks by President  Biden and President Nikos Christodoulides of the Republic of Cyprus Before Bilateral  Meeting

    US Senate News:

    Source: The White House
    Oval Office
    12:06 P.M. EDT
    PRESIDENT BIDEN:  Well, Mr. President, welcome.  Welcome to the Oval Office.
    PRESIDENT CHRISTODOULIDES:  Thank you very much, Mr. President.
    PRESIDENT BIDEN:  Good to see you.  Good to see you.
    It was 10 years ago when I visited Cyprus last, as vice president of the United States.  And — and, as I said, there is no limit to what our nations can achieve if we work together. 
    PRESIDENT CHRISTODOULIDES:  Exactly.
    PRESIDENT BIDEN:  And we’ve been doing that for a long time. 
    But I think that’s even more true today.  Today, we stood against Russia’s vicious onslaught against Ukraine.  We launched a strategic dialogue to increase cooperation across a range of issues, from energy security to artificial intelligence.  And we surged humanitarian aid, delivering 8,000 metric tons to Gaza. 
    So, Mr. President, Cyprus made all this possible.  I want thank you for your leadership in making that happen. 
    And this year also marks the 50th anniversary of the artificial division of the island.  I remember it well.  It was my first year as a U.S. senator.  I remember sitting with (inaudible) — anyway, it’s — it’s a sad day.
    PRESIDENT CHRISTODOULIDES:  (Inaudible.)
    PRESIDENT BIDEN:  But as a — it was a sad occasion, but I remain optimistic about the possibility that a u- — reunited Cyprus and bizonal, bicommunal federation is possible.  And the United States ready — stands ready to provide any support we can toward that goal. 
    Mr. President, thank you, again, for being here, and I look forward to our conversation.
    The floor is yours.
    PRESIDENT CHRISTODOULIDES:  Mr. President, it’s a great honor to be at the White House.  Thank you very much for your invitation.
    As you very well know, our countries have been — have built a truly strategic partnership and — and our relations — our relations are at a strategic and historical high.
    At the bilateral level, we are working closely on defense and security, on energy, law enforcement, technology innovation.  There is a top potential, and there is a clear and strong political will from both countries, following also the first strategic dialogue that took place in Cyprus last week to further enhance our partnership.
    Mr. President, at — at the regional level, Cyprus is a predictable and reliable partner of the United States in a region of great geopolitical importance.  We are the member state of the European Union in the region.  We have excellent relations with all of our neighbors.  And we’re working closely with the United States and other partners to face the current challenges, to send much-needed humanitarian assistance to Gaza, to evacuate third-country nationals from — from the region.
    With regards to — to Ukraine, Cyprus stands on the right side of history.  And, Mr. President, it could have been different, having in mind that my country is under Turkish occupation the last 50 years.  
    And, Mr. President, I count on your support and the support of the United States to resume negotiations and find a solution of the Cyprus problem — solution in line with the U.N. Security Council resolution, solution that is based on our common values and principles: democracy and respect of human rights.
    So, Mr. President, once again, thank you very much.  I’m looking forward to our discussions.  Thank you very much.
    PRESIDENT BIDEN:  I’m looking forward to it as well.  You’re a good friend.  (Inaudible.)
    PRESIDENT CHRISTODOULIDES:  Thanks.  Thank a lot.
    12:20 P.M. EDT

    MIL OSI USA News –

    January 25, 2025
  • MIL-OSI: U.S. Commercial Drone Market Size Estimated to Reach a Value of $ 31 Billion By End of 2034

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., Oct. 31, 2024 (GLOBE NEWSWIRE) — FN Media Group News Commentary – The commercial drone industry is witnessing rapid growth and transforming various sectors such as agriculture, delivery and logistics, and energy among others. Advancements in drone technologies have led to increased demand and utilization in industries such as filming, emergency response, construction, and real estate. Additionally, drone software solution providers and manufacturers are continuously innovating and upgrading their offerings to cater to diverse market needs. As governments establish regulatory frameworks, the integration of drones into industries is expected to accelerate. This, in turn, is likely to create lucrative opportunities for market expansion over the forecast period. A report from Grand View Research projected that the U.S. commercial drone market size is expected to grow at a compound annual growth rate (CAGR) of 9.1% through 2030. The report said: “Furthermore, favorable legislations and rising use of commercial drones by authorities in the U.S. is expected to attract various industries to utilize drones for different processes. Similarly, government authorities across the region are constantly working on framing new regulations for the commercial applications of drones. This is attributed to increased focus on the adoption of commercial drones due to their economic potential, while prioritizing the safety and security of the country. This, in turn, is anticipated to drive the U.S. commercial drone market growth over the forecast period.”   Active Tech Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), AeroVironment, Inc. (NASDAQ: AVAV), Draganfly Inc. (NASDAQ: DPRO), Red Cat Holdings, Inc. (NASDAQ: RCAT), Safe Pro Group Inc. (NASDAQ: SPAI).

    Fact.MR continued: “In addition, surveyors and engineers use drones to visualize the progress made in their construction projects by taking overhead images. Having a project overview leads to simplification of decision-making, thereby streamlining building site operations. Drones are now being used for several applications, ranging from surveillance, deployment in military operations, video recording, agriculture, and film & television. With this rise in drone applications, key players in the United States market are incorporating advanced technologies in drones. Increasing drone payload capacity and introducing drones for specific applications are anticipated to promote the profits of drone manufacturers. Furthermore, leading companies are also making drones with high-power motors. Home deliveries through drones have now become a reality with the help of retail and logistics organizations such as Amazon.”

    ZenaTech Inc.’s (NASDAQ:ZENA) ZenaDrone Completes the First Phase of an IQ Nano Inventory Management Trial for Multinational Auto Parts Customer – ZenaTech, a technology company specializing in AI (Artificial Intelligence) drone solutions and enterprise SaaS (Software-as-a-Service) solutions, today announced that its subsidiary, ZenaDrone, has successfully completed the first phase of drone testing and 3D mapping, and is beginning the next phase of production of a paid trial for a multinational auto parts manufacturer. This production phase consists of flying automatic and fully autonomous flights of the IQ Nano drone in an inventory management application.

    Testing took place over several months at ZenaDrone’s production facility in Sharjah, United Arab Emirates (UAE) to ensure the smooth operation of the inventory scanning application. The 3D mapping took place just recently at the customer’s site consisting of scanning and mapping the warehouse area to create a 3D map that automates the drone flight path and its operations while in production.

    View video showing the IQ Nano in test flight here.

    The production phase is set to begin imminently and will consist of the IQ Nano flying and reading product and component bar codes, collecting information for verification and integration with the customer’s inventory management and accounting systems.

    “We look forward to the production phase and concluding a successful trial, proving the viability of the IQ Nano and enabling us to deliver our product to our customer. A successful trial also opens the potential to win additional business with this customer and to verifiably demonstrate IQ Nano’s utility for the benefit of attracting additional market interest. The revolutionary use of an indoor drone for productivity and cost savings value can be implemented across hundreds of warehouse facilities, turning a week-long activity like counting inventory into a day,” said CEO Shaun Passley, Ph.D. – Get the full details by visiting: https://www.financialnewsmedia.com/news-zena/

    Additional Groundbreaking ZenaTech Inc. Developments this week include:

    ZenaTech Enters the Drone Sensor and Components Market Establishing a New Taiwan Subsidiary to Win More US Defense Contracts for Its AI Drones – ZenaTech also announced it will establish a new company in Taiwan to manufacture drone sensors and components for use in the drone products produced by its subsidiary ZenaDrone. The new company, named Spider Vision Sensors Ltd., will ensure ZenaDrone’s products are compliant with the US National Defense Authorization Act (NDAA), an important requirement for the company to win more business with the US Military.

    Spider Vision Sensors Ltd. will manufacture drone sensors, electronics, and components such LiDAR (Light Detection and Ranging), thermal, infrared, multi-spectral and hyper sensors, cameras, and PBCs (Printed Circuit Boards). Having in-house manufactured sensors and components will enable ZenaDrone to have a steady supply to fulfill customer orders and drone production needs at its Sharjah, UAE, and future Arizona-based drone manufacturing facilities. Taiwan was selected due to its size and skills as an electronics hub, and the availability of low-cost alternative components versus those from China. The new company is currently at the prototype stage, and the manufacturing facility is expected to be open in November.

    “Establishing a drone sensor and components manufacturer in Taiwan will help bring our products to market faster and removes dependencies on any Chinese made electronics. This will position us to win more US military contracts via achieving Green UAS (Uncrewed Arial Systems) and Blue UAS certifications as an approved supplier,” said CEO Shaun Passley, Ph.D.    Read this full release at:      https://finance.yahoo.com/news/zenatech-enters-drone-sensor-components-113000155.html

    Other recent developments in the technology industry include:

    AeroVironment (NASDAQ: AVAV) recently successfully showcased the maritime prowess of its combat-proven JUMP® 20 uncrewed aircraft system (UAS) during the NATO REPMUS 2024 (Robotic Experimentation and Prototyping using Maritime Uncrewed Systems) exercise off the coast of Portugal. This dynamic demonstration reinforced JUMP 20’s advanced Intelligence, Surveillance, and Reconnaissance (ISR) capabilities, autonomously launching and landing on a moving vessel in rough seas, with conditions reaching sea state level 5 and winds over 20 kts.

    The JUMP 20 also highlighted its multi-sensor mission versatility, seamlessly executing wide-area search and detection tasks. Its advanced Electro Optical and Mid-Wave Infrared (MWIR) turret automatically slewed to investigate identified targets without repositioning the platform, ensuring constant operational focus. Full-motion video was captured and later analyzed using AV’s cutting-edge computer vision technology, SPOTR-Edge™, enabling perception analysis using its robust library of object classifications, including persons, vehicles, and maritime vessels. Additionally, video from this event will further enhance the solution, making the JUMP 20 even more capable for future deployments by refining its object recognition and situational response capabilities.

    Draganfly Inc. (NASDAQ: DPRO), an award-winning, industry-leading developer of drone solutions and systems, recently announced its participation in the upcoming Wings of Saskatchewan event in Regina, from October 30 to October 31, 2024. Draganfly will showcase its latest drone technology advancements, contributing to discussions on industry trends, safety, and regulatory considerations alongside key stakeholders in the aviation sector.

    The Wings of Saskatchewan Conference, hosted by the Saskatchewan Aerial Applicators Association and the Saskatchewan Aviation Council, serves as a vital gathering for the aviation community. This year’s event will bring together leaders from both civil and commercial aviation sectors to discuss technological advancements, regulatory updates, and future trends within the industry.

    Draganfly will emphasize the need for synergy across the aviation industry at the conference by addressing essential topics, including airspace safety and the regulatory challenges impacting the drone sector. This presentation will spotlight the benefits of enhanced communication and collaboration between fixed-wing, helicopter, and RPAS (Remotely Piloted Aircraft Systems) to promote safe, efficient, and integrated airspace management.

    Red Cat Holdings, Inc. (NASDAQ: RCAT), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, recently announced a new contract and order for 12 of its FlightWave Edge 130 Blue system from the Royal Australian Navy. The contract was secured through Criterion Solutions Pty Ltd., an Australian-based distributor of intelligence, surveillance, reconnaissance and information technology solutions.

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

    Safe Pro Group Inc. (NASDAQ: SPAI) recently shared a video highlighting the capabilities of the Company’s patent-pending SpotlightAI™ AI-powered demining solution presented by Amazon Web Services (AWS) at this year’s AWS Summit Washington, D.C. The video highlights AWS Partners in the AWS Partner Network (APN) featuring senior Safe Pro team members discussing how AWS’s hyper scalability and compute resources are enabling the Company to modernize demining efforts in Ukraine by utilizing AI-powered image analysis of drone-based imagery.

    “Our inclusion in this year’s AWS Summit Washington, D.C. spotlights our continued success in locating thousands of landmines and unexploded ordnance currently scattered over thousands of hectares of land in Ukraine utilizing our AI-powered image analysis technology. AWS continues to provide us invaluable support as we work to harness the power of AI and AWS’s hyper scalability to modernize real world demining operations. Working with AWS, we have greatly enhanced our ability to provide leading humanitarian mine action organizations with powerful new tools that can improve their situational awareness as they execute their land clearance operations across Ukraine, expediting the release of land for agricultural and civilian use,” said Dan Erdberg, Chairman and CEO of Safe Pro Group Inc.

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

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    The MIL Network –

    January 25, 2025
  • MIL-OSI: Noma Exits Stealth with $32M to Secure the Entire Data & AI Lifecycle from Development to Production

    Source: GlobeNewswire (MIL-OSI)

    TEL AVIV, Israel, Oct. 31, 2024 (GLOBE NEWSWIRE) — Noma exited stealth today, announcing $32M in funding and the launch of their application security platform for securing the entire Data & AI Lifecycle. The company’s series A round was led by Ballistic Ventures and comes less than a year after a previously undisclosed seed round led by Glilot Capital Partners, with participation from Cyber Club London. Dozens of strategic angel investors have backed Noma, including current and former CISOs of McDonald’s, Google DeepMind, Twitter, Atlassian, BNP Paribas, T-Mobile, and Nielsen.

    The rapid adoption of AI has thrown data science and machine learning teams into the spotlight, introducing new application security risks. “The Data & AI Lifecycle is significantly different from the software development lifecycle. It comes with a whole new supply chain, as well as unique open source components and runtime artifacts that traditional security tools don’t cover,” said Niv Braun, co-founder and CEO of Noma. “We’re already seeing organizations compromised by misconfigured data pipelines and MLOps tools and vulnerable and malicious open source models. It’s only a matter of time before we see AI’s equivalent of SolarWinds or Log4Shell. There’s an urgent need for a new security solution that holistically covers the Data & AI Lifecycle.”

    Noma’s platform provides end-to-end AI discovery, security, protection, and compliance. It protects against supply chain risks — like vulnerable data pipelines, unscanned code in data science environments, misconfigured MLOps tools, and sensitive data used for model training — as well as threats like vulnerable and malicious models, runtime prompt injection, and more.

    The platform seamlessly deploys across any cloud-based, SaaS, or self-hosted environment within minutes, requiring no agents or code changes and adding no friction to data science teams’ day-to-day workflows. Noma’s end-to-end approach provides coverage across the entire Data & AI Lifecycle, from development to production and from classic data pipelines and ML to GenAI.

    “Like traditional software development, AI has introduced a new range of security risks — but is moving at hyperspeed and with even higher stakes,” said Kobi Samboursky, Founder and Managing Partner of Glilot. “AppSec evolved over decades with fragmented tools for static and dynamic analysis, open source, supply chain, and runtime, but security teams have come to realize that they need consolidated solutions. Noma is uniquely positioned to tackle this problem from the start, consolidating multiple use cases into a single platform. We backed Noma to become the complete application security solution for the Data and AI Lifecycle.”

    “The role of data science teams has rapidly evolved from supporting business functions like reporting and analytics to developing AI-powered applications that significantly impact business outcomes,” said Jake Seid, Co-founder and general partner of Ballistic Ventures.

    “As security and compliance become more top of mind for organizations adopting AI, embedding security from the start ensures that innovation can flourish without compromise. Noma’s approach gives AppSec teams full visibility and confidence while empowering data science teams to move fast and drive business value.”

    Founders Niv Braun (CEO) and Alon Tron (CTO) met in the prestigious 8200 intelligence unit and have combined their respective experience leading security groups and data science teams to start Noma. Together they have quickly built a team with deep expertise in AI, application security, and beyond. Noma has helped shape industry standards for AI security as members of the OWASP AI Exchange and has contributed to US government policy on AI security, including informing guidelines like NIST SP 800-218A. The Noma platform is already used by paying customers, including Fortune 500 companies.

    Learn more about Noma’s platform and vision on the Noma website and blog.

    Media Contact
    Lazer Cohen
    lazer@concrete.media
    347-753-8256

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1996901b-4732-4856-b705-03949017b91e

    The MIL Network –

    January 25, 2025
  • MIL-OSI: UK-Based HealthTech Startup Definition Health Raises £5.75 million in Pre-Seed Funding to Streamline Surgical Care with Advanced Predictive AI Technology

    Source: GlobeNewswire (MIL-OSI)

    LONDON, Oct. 31, 2024 (GLOBE NEWSWIRE) — Definition Health, a UK-based, clinician-led HealthTech innovator, has secured £5.75 million ($7.5 million USD) in pre-seed funding for surgical care with cutting-edge predictive AI. This funding will further fuel the enhancement of its platform, designed to seamlessly integrate into healthcare systems, transforming surgical workflows. By delivering personalized, data-driven care, Definition Health’s platform improves surgical efficiency, reduces complications, and optimizes outcomes for patients, hospitals, and insurers—positioning the company as the leader in value-based care.

    “Medicine does not stand still, nor should it. In my opinion, Definition Health is quite literally a glimpse into the future,” says Dr. David Redfern, CEO of David Redfern Surgery, Orthopedic Surgeon, and Definition Health Angel Investor. “Not only do Definition Health systems already improve patient safety in the hospital environment but they offer perhaps one of the Holy Grails of medicine – The opportunity to tailor treatments to specific patient attributes. To link a whole host of parameters to outcomes and understand how to improve those outcomes.”

    Co-founded by Dr. Sandeep Chauhan, an internationally renowned practicing orthopedic surgeon with over two decades of clinical experience, and Dr. Rosie Scott, an NHS Clinical Entrepreneur and celebrated radiologist, Definition Health was born from a vision to modernize surgical care by addressing the inefficiencies that burden both clinicians and patients. “We saw firsthand how fragmented the surgical care process was, leading to delays, cancellations, and complications,” said Dr. Chauhan. “Our platform streamlines the entire surgical journey, surfacing actionable patient data to clinicians, enabling them to intervene earlier and make more informed decisions, resulting in better outcomes for patients.”

    U.S. hospitals face increasing pressure to maximize revenue from elective surgeries, a critical income stream that accounts for 48% of hospital gross revenue. With 40% of U.S. hospitals operating at a loss, current solutions are failing to address both financial and clinical inefficiencies. Definition Health combats this by drawing on proprietary data from over 400,000 surgeries to build predictive models that optimize care and mitigate surgical risk. With U.S. healthcare under pressure from staffing shortages, rising costs, and growing surgical demands, Definition Health’s platform integrates predictive analytics and machine learning into clinical workflows to optimize pre-op planning, reduce complications, and accelerate recovery.

    Their platform has already saved the NHS the equivalent of $2.6 million per 40,000 patients by reducing surgical cancellations, and Definition Health is eager to replicate this success in the U.S., where outpatient surgeries are growing exponentially. As a participant in the UK-Florida Life Sciences Trade Corridor, the company is well-positioned to connect with key players in Florida’s healthcare market, including leading hospitals and healthcare systems, making it an ideal partner for U.S. institutions looking to improve efficiency and patient outcomes.

    “As a former NHS Hospital CEO with over two decades of experience, I immediately recognised the transformative potential of Definition Health. Sandeep and Rosie’s vision for revolutionizing end-to-end surgical pathways is not just innovative – it’s essential for the future of healthcare. Their solution is a game-changer, offering tangible benefits for both patients and front-line staff. The evaluation results are not just impressive; they’re indicative of a significant leap forward in healthcare delivery. I am truly excited to see the contribution Definition Health will make to healthcare, not only in the UK and US but on a global scale. This is the kind of innovation that investors and healthcare systems should be paying close attention to.” – Dame Jackie Daniel, former CEO of NHS Newcastle Hospitals, Healthcare Advisor to Definition Health, and Global Luminary for Accenture

    As Definition Health scales, the company is focused on expanding into key U.S. markets, starting with Florida, where the demand for surgical innovation is growing rapidly. With the success of their pre-seed round, Definition Health has opened a Series A funding round to support this growth and foster strategic partnerships in the U.S. By combining AI-powered predictive analytics with seamless clinical integration, Definition Health is transforming surgical care and providing a comprehensive solution to the challenges facing hospitals globally. The company’s success in the NHS, the largest single-payer system in the world, demonstrates its capacity to deliver value-based care at scale.

    About Definition Health
    Definition Health is a clinician-led HealthTech company transforming surgical care through advanced predictive AI technology. By streamlining the entire surgical journey, from pre-op to recovery, its AI-powered platform improves patient outcomes, enhances clinical workflows, and reduces costs for hospitals and insurers. With proven success in the NHS, Definition Health is poised to expand globally, delivering value-based care solutions that address the critical challenges facing modern healthcare systems.

    Contact:
    Sandeep Chauhan, CEO
    hello@definitionhealth.co.uk
    sandeep@lifeboxhealth.com

    Disclaimer: This content is provided by Definition Health. This press release includes forward-looking statements about Definition Health’s future plans and growth, subject to risks and uncertainties that may cause actual outcomes to differ. These statements reflect current expectations and are not guarantees of future performance. Definition Health assumes no obligation to update these statements. This release is for informational purposes only, not investment advice.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/14572bea-f33e-4cbe-b409-d58b9e129005

    The MIL Network –

    January 25, 2025
  • MIL-OSI United Kingdom: Government backs UK R&D with record £20.4 billion investment at Autumn Budget

    Source: United Kingdom – Executive Government & Departments

    Yesterday’s Autumn Budget backs UK’s R&D sector with record highest ever level of government investment.

    DSIT in the Autumn Budget 2024 £20.4 billion to boost UK Science and Tech

    • The Chancellor announced £20.4 billion in investment for UK R&D to drive economic growth, including fully funding association to Horizon Europe research programme
    • Up to £520 million Life Sciences Fund to unlock £1.8 billion in private investment, advance health resilience and create high-quality jobs across the country
    • New R&D investments to power the UK’s national missions, with regional innovation accelerators supporting growth across the country

    At yesterday’s Budget (Wednesday 30 October) the Chancellor has announced the highest ever level of government investment of £20.4 billion in research and development for next year, reinforcing the government’s commitment to back the UK’s R&D ecosystem to drive economic growth and achieve its five national missions.

    The Budget will fully fund the UK’s association with Horizon Europe, providing scientists and innovators access to the world’s largest collaborative funding scheme, with over £80 billion available for cutting-edge projects under the EU scheme. DSIT’s own R&D budget has increased to £13.9 billion, and core research funding has also been increased to a record £6.1 billion, bolstering the UK’s leading research base.  

    A significant part of this Budget is dedicated to the UK’s life sciences sector, a cornerstone for positioning the UK as a leader in science and innovation, through a £520 million commitment to the Life Sciences Innovative Manufacturing Fund.

    Additionally, the Chancellor announced funding for several other programmes to be led by DSIT. Together, these investments underscore the importance of science and technology in driving economic growth essential to raising living standards and funding public services, positioning the UK at the forefront of global innovation and progress.

    Science and Technology Secretary Peter Kyle said:

    The Autumn Budget is clear recognition of this government’s view that driving economic growth and improving people’s lives cannot be done without investing in science and technology.

    That’s why we are taking R&D investment to record levels and matching our words with action by empowering researchers and businesses to solve real-world problems, grow emerging new industries and create high-quality jobs.

    DSIT’s Autumn Budget announcements include:

    Life Sciences Innovative Manufacturing Fund

    The Chancellor unveiled the Life Sciences Innovative Manufacturing Fund (LSIMF), starting with £70 million in grants, as part of a long-term commitment of up to £520 million to secure major life sciences manufacturing investments across the UK.

    This fund strengthens the country’s ability to develop and produce life-saving treatments, ensuring quicker access to vital medicines and bolstering NHS stability.

    The LSIMF is expected to unlock up to £1.8 billion in private investment, supporting thousands of high-skilled jobs and driving economic growth nationwide, while preparing the UK for future health emergencies and enhancing NHS resilience.

    R&D Missions Programme

    The new R&D Missions Programme (RDMP), which we are initially investing £25 million for, will address specific challenges our National Missions face, such as advancing healthcare and transitioning to cleaner energy. Partnering with private and third-sector organisations, this initiative aims to turn scientific advancements into real-world benefits, improving public services and quality of life across the UK.

    Spin-Out Review Proof of Concept Fund

    To support the UK’s Growth Mission, the government is investing £40 million over five years in a Proof of Concept Fund, to turn pioneering university research into successful companies. This initiative aids researchers in bringing their innovative ideas to the market, creating high-potential start-ups that drive job creation and economic growth.

    Successful spinouts like Pragmatic Semiconductor, which raised £182 million to help open its first manufacturing facility and create 500 high-skilled jobs, or Oxford Nanopore with over 1,000 employees, highlight the potential impact of research-led innovation.

    Innovation Accelerators and Made Smarter Innovation programmes

    The government has extended for a further year, two key programmes that promote innovation across UK regions and manufacturing. The Innovation Accelerator programme will continue for another year, focusing on high-potential clusters in the Glasgow City Region, Greater Manchester, and the West Midlands.

    Successes include Chemify, a Glasgow-based spin-out developing new methods for chemical manufacturing, which has since attracted £28 million in private funding, and the Biochar Cleantech Accelerator in the West Midlands, which is creating new products to support green growth. These projects demonstrate the benefits of R&D across the country and its support for regional economic growth.

    Meanwhile, the Made Smarter Innovation programme will continue to be funded with up to £37 million, and empowers manufacturers to adopt digital technologies, enhancing productivity and sustainability by connecting digital solution providers with industry. 

    Project Gigabit

    The government will invest at least £500 million over the next year in Project Gigabit and the Shared Rural Network, accelerating the rollout of digital infrastructure to underserved regions in the UK. The funding aims to deliver full gigabit coverage by 2030, ensuring fast, reliable internet access for communities and businesses, enabling equal access to digital opportunities nationwide.

    Shared Services Strategy

    DSIT will invest up to £80 million to enhance corporate functions across nine government departments. It aims to transform shared services and streamline systems, making them more efficient, modern, and cost-effective, delivering better value for taxpayers.

    Review of barriers to the adoption transformative technologies

    The government has commissioned a review led by the government Chief Scientific Adviser, Professor Dame Angela McLean, and National Technology Adviser, Dr Dave Smith, to identify barriers to adopting transformative technologies. This review will focus on the high-growth sectors in the government’s Industrial Strategy, aiming to enhance and productivity and drive growth to boost the UK economy.

    In response to today’s Budget, Sir Adrian Smith, President of the Royal Society, said:  

    It is very good news for the science sector and for the UK that the Chancellor has recognised research and innovation as a ‘crucial national asset’ for delivering long-term economic growth. 

    Protecting the science budget, despite the challenges facing public finances, and investing £20.4 billion in 2025/2026, will create conditions that generate new knowledge, boost productivity and unlock opportunities for every corner of the UK. 

    There is clear recognition that delivery of net zero and support for innovation in growth sectors, like AI, will be key to capturing these economic opportunities. 

    The Chancellor rightly recognises that investing in education and skills today lays the foundation for the UK’s future prosperity and international competitiveness. Recruitment of specialist science teachers and reform of mathematical education as part of the upcoming curriculum review will be key to delivering this pledge.

    Professor Andrew Morris PMedSci, President of the Academy of Medical Sciences, said:

    With this Budget, we are pleased that the government has recognised the pivotal role of research and innovation in powering economic growth and prosperity. The Academy will continue to support this by working with our partners to deliver the best possible outcomes for research and for the health of people everywhere. 

    It is encouraging that the Chancellor is providing much-needed stability for our research community by protecting core R&D budgets and we particularly welcome the real-terms increase in National Institute for Health Research investments, which are an important step towards delivering health research and innovations for patients across the UK.  

    The government’s commitment to fully cover the cost of the Horizon Europe programme is essential for advancing medical science and addressing global health challenges across borders and we encourage the UK research community to actively pursue these funding opportunities.

    By recognising innovation as one of the seven pillars of its Growth Mission, alongside the commitment to establish 10-year budgets in the Spring Statement and a roadmap to rebuild the NHS, the government is signalling an important shift to longer-term thinking. Stable, sustained funding is crucial for fostering productive partnerships between academia, industry and the NHS, and enabling the kind of transformative research that improves the lives of people across the UK.

    Dr Tim Bradshaw, Chief Executive of the Russell Group said:

    In a challenging fiscal landscape, we are pleased to see the government has protected the R&D budget, including core research funding, and recognised the value of research and innovation as a key pillar of the growth mission. This will allow universities to continue to deliver on growth and productivity, contributing to job creation, regional investment and advances that improve public services.

    We particularly welcome the introduction of a multi-year R&D missions programme which highlights the role of R&D in achieving the government’s top priorities, including the Industrial Strategy. We are also very encouraged to hear that full funding has been made available for our association to Horizon Europe. In both of these areas we will be working with our partners across industry and academia to maximise the benefits for the UK.

    Continuing to grow R&D investment for the UK, including in fundamental research, will be crucial to creating new industries, leveraging private investment and delivering high-value jobs across the country.

    DSIT media enquiries

    Email press@dsit.gov.uk

    Monday to Friday, 8:30am to 6pm 020 7215 300

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    Published 31 October 2024

    MIL OSI United Kingdom –

    January 25, 2025
  • MIL-OSI USA: Fiscal Year 2024-2025 Recruiting Media Roundtable With Service Leaders

    Source: United States Department of Defense

    PENTAGON PRESS SECRETARY MAJOR GENERAL PAT RYDER: Ok. All right. Well, good afternoon, everyone. I’m Major General Pat Ryder, Pentagon press secretary. Thanks very much for joining us for today’s briefing and update on the Department of Defense recruiting efforts.

    As you know, the military — the US military is the strongest fighting force on Earth. For more than 50 years, our all volunteer force has been sustained by qualified patriots who stand up to serve and keep our republic secure. As Secretary of Defense Austin has said, our greatest strategic asset is our people. We must continue to recruit and retain the best that our country has to offer. The department remains deeply committed to ensuring that every qualified patriot has the opportunity to answer the call.

    We’re fortunate to have with us today a panel of defense leaders to discuss today’s recruiting environment and preview the service’s goals for fiscal year ’25: Dr. Katie Helland, DOD’s director of military accession policy; Major General Johnny Davis, commanding general, United States Army Recruiting Command in Fort Knox — at Fort Knox; Brigadier General Christopher Amrhein, commander, Air Force Recruiting Service; Rear Admiral James Waters III, commander, Navy Recruiting Command; and Major General William Bowers, commanding general, Marine Corps Recruiting Command.

    As a reminder, today’s briefing is on the record. I’ll turn it over to each of our panelists for brief opening remarks before opening it up to Q&A. And please note I will call on reporters and try to get to as many of you as possible. And with that, I’ll turn it over to Dr. Helland to kick things off.

    DR. KATIE HELLAND: Thank you. Good afternoon. I am Katie Helland, the director of accession policy. Thank you for inviting me to this media roundtable. And I’d like to start by expressing a special thank you to everyone over the past year, from our recruiting commanders to our recruiters to our MEPCOM [Military Entrance Processing Command] personnel, who’ve contributed to the success of fiscal year 2024 recruiting missions following significant shortfalls during the previous years.

    The military service concluded fiscal year 2024 in a much improved position compared to this time last year despite a continuously challenging and disinterested recruiting market. At the end of September, the services enlisted just shy of 225,000 new recruits in fiscal year 2024. That’s over 25,000 more than fiscal year 2023.

    Furthermore, the services had a 35 percent increase in contracts written compared to this time last year. USMEPCOM saw a year over year increase of medical exam by 48 percent, and the active components started fiscal year 2025 with a 10 percent larger starting pool or a delayed entry program pool compared to this time last year.

    OSD and the services will continue to build off the momentum that we’ve gained in 2024. Nevertheless, we need to remain cautiously optimistic about the future recruiting operations as we continue to recruit in a market that has low youth propensity to serve, limited familiarity with military opportunities, a competitive labor market and a declining eligibility among young adults.

    More specifically, we’ve observed over the last decade a growing divide between military and civilians. Data indicate that many of today’s youth are not interested in military service and have many misperceptions about what life is like as a service member.

    Additionally, for the first time since this metric has been tracked, the majority of youth have never even considered military service as an option. That is it’s not even on the radar. This divide has been brought about by a confluence of many factors, including the shrinking military footprint and declining veteran presence across society.

    Young Americans now have fewer direct ties to a family member or a close friend who has served in the military. For example, in 1990, 40 percent of our young adults had a parent who served. That’s down to 15 percent today. In the past, those direct ties were key to conveying the boundless opportunities and experiences that are gained from military service. And without these personal connections, we find fewer young adults are familiar with the benefits of service.

    Further complicating our recruiting challenges is the low number of youth who are qualified for military service. Data show nearly 77 percent of youth between the ages of 17 and 24 are not qualified for military service without some type of waiver. This is where programs like our medical records pilot, or MARP, and service member prep courses have been helpful to expand the market.

    But we also seek to expand the market by reconnecting with young adults and their influencers on the value proposition of service. For instance, the next generation of Americans to serve should know that there has never been a better time for them to choose military service. Youth today seek a larger purpose in their lives and desire jobs where they have greater participation in decision making and can create a direct tangible impact. Military service offers all of this.

    Service provides new perspectives, a sense of purpose, the opportunity to take on great responsibilities and challenge the status quos. Service members find personal fulfillment in serving in every part of the world, responding with skills to truly make a difference. Military service has more than 250 occupations, where each person will be individually challenged to reach their peak potential by providing a path to success.

    The military represents one of the most educated organizations in the world across all ranks. We provide our service members with competitive pay packages and benefits such as retirement savings and health care, along with unprecedented opportunities for continued education and training. We offer these things that the young adults today look for when choosing a career, but in many respects they just don’t know it.

    Too often, the military is falsely seen as an alternative to college or an option of last resort. We are working to reframe this narrative so that Americans understand that military service is a pathway to greater education and career opportunities while defending democracy and the freedoms we hold dear.

    This is why the Joint Advertising Market Research and Studies program has launched the digital Calling Answer campaign to build familiarity and — with the value proposition of military service to nest with the services’ specific campaigns. Further, the department’s There Tomorrow adult influencer media campaign targets parents, educators, and other relevant adult influencers to build advocacy for military service.

    Moreover, we have collaborated with our education partners through our military enlistment data to — access to LIFT students or our metals working group with state education agencies to develop a strategy and a plan to share military data with states in order to provide credit to public high schools for military readiness, in addition to college and career readiness.

    We’ve also partnered with our fellow national service agencies like AmeriCorps and Peace Corps to help amplify a message of service because, like military service, there has been a decline in propensity for national service opportunities. So, we are working a whole of government solution.

    While we’re here to talk about recruiting efforts today, we also want to celebrate the 225,000 young adults who’ve enlisted in fiscal year 2024. Through a spirit of selfless service, we continue to build and maintain the world’s most capable military.

    I thank you for having me and thank you for your continued efforts to better understand and support the department’s recruiting mission. I look forward to your questions.

    MG RYDER: Major General Davis.

    MG JOHNNY DAVIS: Well, good afternoon everyone. I’m Johnnie Davis, US Army recruiting commander. And thank you, Dr. Helland and fellow recruiting commanders for taking the time to be here.

    As mentioned, the US Army Recruiting Command exceeded our fiscal year 2024 recruiting mission, with more than 55,000 future soldiers going to basic combat training. Additionally, our dedicated recruiters capitalized on this momentum and surpassed the fiscal year ’24 delayed entry program mission of 5,000, contracting more than 11,000 future enlistments for fiscal year ’25. This is a great start and a very positive momentum. Achieving these goals helps ensure our Army has the personnel needed to meet end strength numbers established by Congress.

    Just over a year ago, the fierce competition for talented Americans and the need to modernize recruiting efforts led the secretary of the Army to announce recruiting as the Army’s number one priority and the need for recruiting transformation. In the past year, we’ve witnessed historic changes that generated incredible positive momentum for us in the Army.

    This really started in February 2024, after about a year of putting many of these initiatives together, and it hasn’t slowed down. Our hardworking recruiters, whole of Army support, and transformation initiatives made our fiscal year ’24 success possible. We know we are — we are not out of the woods yet, but we remain steadfast to mission success this year and beyond.

    So, as I look back on the past year, I think there are two main contributors to the success we’re seeing: our investment in the recruiting force and our families and the whole of Army investment in recruiting. We know the importance of putting people first, and started this investment with adapting our recruiter assessment and selection processes.

    Incorporating recruiter feedback, we also revamped training at the recruiting college and added two weeks to our Army recruiting course to focus on people and quality of life. Our People Week brings recruiters and their families virtually together to prepare them for the demands of life away from military installations.

    Our senior leader supported recruiters with historic incentives in fiscal year ’24: recruiter incentive pay continues; authority to promote sergeants who graduate the Army recruiting course to staff sergeant. These are all volunteers. Over 927 have been promoted; meritoriously promote up to 150 qualified sergeants and staff sergeants to the next grade; and promote fully eligible sergeants and staff sergeants who enlist 24 future soldiers to basic combat training in a 12 month period. As of today, we have 21 promotions in this category.

    In addition to the investment and professional development of our people, we continue to leverage our soldier referral program, where soldiers from around the globe in every formation have an opportunity to contribute to recruiting efforts. This program is a little more than 20 months old, and we’ve already received more than 77,000 referrals from soldiers, resulting in 5,000 contracts, and many more in the pipeline.

    The Army addressed the medical backlog and surged over 60 medical providers to 33 select Military Entrance Processing Stations across the country, increasing enlistments for the Army, Army Reserve, and our sister services. Our wonderful providers completed 6,000 more physicals as compared to last year.

    The Army is paving the way in other avenues for young Americans to serve. A first of its kind life accelerating program started in 2022, the Future Soldier Prep course, invests in young men and women, helping them unlock their potential and achieve academic and fitness readiness for military service, with a graduation rate over 90 percent in both academic and physical tracks.

    With recruiting transformation, marketing efforts are even getting better. Throughout fiscal year ’24, our teammates at the Army Enterprise Marketing Office built upon the Be All You Can Be campaign while synchronizing marketing and advertising efforts to reach expanded audiences and connect with more prospects interested in military service.

    Our recruiting staff and innovation team have been hard at work to transform the enterprise’s prospecting efforts and adapt to market expansion. We continue to look beyond the high school market, and in fiscal year ’24 had an average enlistment age of 22 years and four months, and this is going up. Also, one out of every five enlistees has some college or is a college graduate.

    Our increased usage of digital job boards and rollout of the Go Recruit mobile app, which was a recruiter recommendation, have improved our efforts immensely. We started Recruit 360 pilot, a new AI prospecting experiment that utilizes machine learning and AI assisted lead identification to enhance recruiter efficiency and focus on quality over quantity. So, we’re trying to get beyond the old days of high school lists and use AI to help us refine the lead market of our qualified applicants.

    Our investment in people and Army’s investment in recruiting made fiscal year ’24 a success. There are no words to express how proud I am of the hardworking recruiters that crushed it in every community. Compared to fiscal year ’23, these young men and women increased productivity by 43 percent, an outstanding improvement.

    As we kick start ’25, we will continue to invest in the people, maintain momentum, transform the enterprise, and innovate our workforce. The secretary announced earlier this month the Army’s enlistment goal for fiscal year ’25 is 61,000 future soldiers, with a delayed entry program target of 10,000. Our recruiters are already kicking it in high gear in fiscal year ’25, and they’re doing very well right now.

    Again, thanks again for your time. I look forward to your questions. I’ll turn it over to my good friend, Brigadier General Amrhein. And of course, be all you can be.

    BG CHRISTOPHER AMRHEIN: Thank you, sir. Ladies and gentlemen, good afternoon. I’m honored to speak on behalf of the Air Force Recruiting Service and provide you with an update of where the Air Force and Space Force stand as we concluded fiscal year 2024 and look to our FY ’25 goals.

    I’m proud to say that we have met our recruiting goals for FY ’24 across all components, the active duty Air Force, Air Force Reserve, the Air National Guard, and the Space Force. This is an incredible achievement, particularly in today’s challenged recruiting environment, where we face declining youth population, lack of familiarity, and intense competition from the private sector.

    I want to start by expressing my sincere appreciation for all the hard work, dedication, and commitment from every member of the Air Force Recruiting Service, to include our Reserve and Guard partners, who were instrumental in us achieving our Department of the Air Force goals.

    There was no one single element which got us across the line this year, but rather a broader shift in how we approach recruitment. Multiple levers, such as barrier removal, incentive adjustment, increasing medical review support, and a honed focus on recruiter development all played a critical role to our total force recruiting successes as we closed out this fiscal year.

    This was a blend of Department of the Air Force headquarters, senior support from SAF/MR, HAF/A1, Space Force S-1, HAF/SJ — SG, not to mention Secretary Kendall, General Alvin, and General Saltzman. Additionally, Air Education and Training Command Commander Lieutenant General Robinson has been a zealot on barrier removal and resourcing support. Our success is a testament to our collective effort and unwavering commitment to bringing in the best and brightest talent into our Air Force and Space Force.

    I need everyone to know the Department of the Air Force is still hiring. We have full and part time opportunities in more than 130 specialties, several with bonuses. We’ve put in place new incentives and modernized outdated policies beginning in the spring of 2023, bringing in a larger pool of qualified applicants. As of 30 September, more than 10,000 total force airmen and guardians joined the Air Force or Space Force due to policy changes and incentives implemented by the Air Force’s recruiting cross-functional team.

    By eliminating these barriers, we’ve optimized our recruitment requirements without sacrificing the quality and capabilities of our recruits. Some of the changes that have expanded accession opportunities attracting high quality youth include reinstating the Enlisted College Loan Repayment program, modifying the body composition program to the baseline DOD instruction, revising the tattoo policy, and continuing the Air Force THC pilot that does not disqualify high quality applicants if they test positive on their initial test and negative on a follow-on test during the application process. In 2024, I adjusted the legal permanent resident requirement in the Air Force from ten years to two years to align with DOD allowances.

    We also reviewed our medical policies and processes. The implementation of MHS Genesis and the Health Information Exchange complicated the medical accession process by increased workloads in reviewing potentially disqualifying conditions in applicants versus the pre MHS Genesis. This created a large increase in medical waiver requests and caused applicant waiting time for waiver adjudications to increase significantly.

    Late last fall, AFRS added 63 medical administrator contractors to help gather and screen supporting medical records, increasing efficiency and allowing for recruiters to focus more on face-to-face engagements with applicants. Additionally, we bolstered recruiter training and made adjustments to the goaling methodologies.

    The Department of the Air Force has not changed its high standards nor compromised the caliber of our applicants. Rather, we have expanded the opportunities for qualified individuals to join our ranks. We have partnered with military affiliated organizations to leverage their presence and manpower in communities across the country.

    The Air and Space Force Association, or AFA, has become one of our trailblazing partners in this effort, as this is an exciting opportunity to build our recruiting network beyond our traditional recruiting force. This year we have also launched a similar partnership with Civil Air Patrol, which has the potential to expand our reach and add another 30,000 members to our total force outreach network.

    As we celebrate the success, we must also turn and focus to the future. FY ’25 brings with it an increased enlisted recruiting goal of 32,500 for the regular Air Force, and a Space Force increase by 30 percent. Additionally, Air Force Reserve requirements will also increase from 7,200 to 7,600. Achieving these goals depends on our ongoing commitment to investing in both our recruiters and the resources they need to succeed.

    The Department of the Air Force allocated more than 370 additional recruiting personnel based on manpower studies, Rand reports, and the AETC/A9 analysis. Air Force Recruiting Service is in the process of rapidly onboarding these personnel with deliberate placement in and around the United States.

    As we move forward, these goals set before us in FY ’25 are ambitious, but we believe they are achievable. Make no mistake. We cannot take our hand off the throttle, and we must remain laser focused on mission. In the end, deterring or winning future conflicts in a time of consequence starts right here at home by winning in the competition space for talent.

    With continued innovation, dedication, and a relentless commitment to our excellence, we will bring in the talent of our Air Force, be that reg AF, Guard, or reserve, as well as the Space Force and what they need to meet the challenges for tomorrow.

    Thank you. I welcome your questions. Aim high, and Semper Supra. Sir, over to you.

    RADM JAMES WATERS: Awesome. Good afternoon. I’m Rear Admiral Jim Waters. I’m Commander, Navy Recruiting Command. It’s a privilege to be here this afternoon to talk about the Navy’s recruiting efforts over the last year and to outline some of our goals for fiscal year 2025.

    We know that, to remain the most capable Navy in the world, we must recruit the best of America, building pathways for all qualified Americans who choose to serve our nation. Fiscal year 2024 was a year of significant achievement for Navy recruiting due to the hard work and dedication of our recruiters, our leadership, and support teams across the country.

    Together we contracted 40,978 active component enlisted sailors into the Navy against a goal of 40,600. This was no small feat, and I want to take a moment to recognize the front line Navy recruiters who worked tirelessly to meet our goals. They did an outstanding job navigating a highly competitive recruiting market, and their efforts are a testament to the Navy’s commitment to building a talented, mission ready force.

    This success didn’t happen by chance. It was the result of strategic changes we made to adapt to the current recruiting environment.

    Key adjustments included increasing the number of recruiters by approximately 800 and removing bureaucratic barriers to rapid decision making and contracting. When we take care of our recruiters, they take care of the mission. Because we recognize that today’s recruits are engaging online more than ever, we ramped up our presence on social media, expanded our esports efforts and employed creative talent in our award-winning Sailor Verses YouTube series.

    Additionally, our marketing and advertising efforts focused on real, authentic stories from actual sailors addressing perceived barriers, concerns and key motivators related to joining. Another major initiative in fiscal year 2024 for the Navy was the establishment of our Recruiting Operations Center, or ROC, which has proven invaluable.

    The ROC consolidated our data and analytic capacity into a single source of truth to continuously assess and improve recruiting practices. This emphasis on shared learning and best practices is helping our recruiters meet their goals and it will continue to play a key role as we move forward in 2025. Finally, we streamlined our medical waiver process to make well-informed decisions in zero to three days, giving recruiters and candidates the opportunity to act quickly.

    As we turn our attention to fiscal year 2025, I want to note that while we’re coming off a successful year, we are not taking our foot off the gas. Our goal for fiscal year 2025 is to build on our momentum and recruit another 40,600 new sailors, which reflects the growing needs of the Navy as we continue to modernize and strengthen our capabilities.

    The road ahead won’t be without obstacles. As my fellow recruiting commanders have noted, the labor market remains competitive and military service is one of many options available to young Americans today. To stand out, we’ll continue to refine our message, positioning the Navy as a premier opportunity for professional development, education and service to the nation. And while mindful of evolving societal expectations, especially with regards to work life balance and career flexibility, we will continue to highlight the opportunity for each young American to forge a better version of themselves in America’s Navy.

    In the end, I’m optimistic about the year ahead. Fiscal year 2025 will bring its own set of challenges, but with the strategies we’ve implemented and the talent we have in place, I’m confident we will meet our goals. Thank you.

    MG RYDER:  General Bowers.

    MG WILLIAM BOWERS:  Good afternoon. Ladies and gentlemen, fellow military leaders, it’s a pleasure to appear before you today to provide an update of your Marine Corps recruiting efforts. Your Marine Corps exists to fight and win our nation’s battles and our performance in recruiting speaks for itself. Our combat heritage is embedded within Marine Corps Recruiting Command’s DNA, and we share the same fierce competitive spirit to win as those Marines who’ve gone before us, no matter the challenge.

    Over the past several decades, the Marine Corps has made institutional investments into recruiting to ensure that we are resourced with the very best commanders and Marine recruiters to accomplish this demanding mission. This has been and will continue to be our greatest source of strength as we face what some refer to as the most challenging recruiting environment since the inception of the all-volunteer force.

    Marine recruiters will continue to meet the expectations of our nation by holding true to our warrior’s ethos and our core values of honor, courage and commitment. We compete for the very best young people in every zip code in our nation and our marine recruiters are actively attracting and inspiring young men and women of character, eager to take up the challenge of earning the title Marine.

    While we welcome all qualified and motivated applicants to take up this challenge, we refuse to lower our standards. We understand that to meet the high, almost mystical expectations that the American people have of their Marine Corps, that we must continue to attract and inspire young men and women of character who desire to live a life of significance by becoming a US marine.

    Despite our success in fiscal year ’24, we continue to face the same challenges as the other services, historic lows in qualification rates, low propensity to serve, a challenging labor market and a fragmented media landscape continued to have a compounding effect on the recruiting environment. To combat these conditions, Marine Corps Recruiting Command will do what Marines have always done, innovate, adapt and win.

    As such, we are focused on my priorities of one, training the most proficient recruiting force in the world; two, manning all of our recruiting sectors; three, securing resources to support our people in the field; and four, adapting our geographic laydown to reflect the changing demographics of our nation.

    And we’re moving out at speed to make these organizational changes. As we attack in the fiscal year ’25, we will continue to reinforce and expand the trust of the American people in their Marine Corps, positively shape the future of the Marine Corps and enable our Marines and their families to be happy and successful.

    I look forward to answering your questions. Thank you. Semper Fidelis.

    MG RYDER:  Thank you very much to all of our panelists today. We’ll start with Associated Press, Lita Baldor.

    Q:  Thank you. Thank you all for being here. I don’t know, Dr. Helland, if you can answer this or if this is each one of you needs to answer. I’m wondering about bonuses. Can you tell me how much Overall the Defense Department has increased the amount of money it’s providing to the services for bonuses and other sort of monetary enhancements for the services to provide for recruiting last year over this year? If you can give sort of overall or if the services need to provide their own.

    And then Admiral Waters, for the Navy, can you say how closely the Navy is tracking the CAT IV that you have been bringing in over the last year or so to determine whether or not there are any increased disciplinary or other issues with that sort of larger chunk that the Navy’s been bringing in, that the other services have not done?

    DR HELLAND:  So I’ll actually open it up to the services to talk on bonus incentives.

    MG DAVIS:  Yeah. Ma’am, I don’t have the exact amount, but this is one of the areas that the, in terms of transformation, should we do the same thing that we’ve been doing every year. So we’re looking at a potential pilot to weigh bonus versus station of choice. And what we’re seeing is applicants are moving towards the station of choice. With that, has garnered savings.

    I don’t have the final amount, but it is sizable when you look at the total number of applicants. And let’s say, it could be an estimate from $3,000 to $5,000, or $6,000 each. So that’s one of the areas that when we look at transformation, how can we do something different, and I think it’s yielding — I mean what we’re seeing is applicants prefer duty station of choice over money.

    BG AMERINE:  Yeah. Ma’am, I’ll follow up with my colleague, we can get you the specific number. What we do though is the incentive options that are there, they do and can flex throughout the requirements from the Air Force, specifically AFSCs or Air Force specialty codes. And so, what we have seen is a shift in my time, a little over a year, focusing on some of the most high demand and low density jobs that are out there, specifically in our special warfare atmosphere for those Air Force specialty codes.

    And so, in many cases, several AFSCs are all eligible for a bonus, but the structure of this is always flexing based on the highest or the most demand. AFSCs right now for us, that is special warfare and a lot of our open and mechanical AFSCs, ma’am.

    RADM WATERS:  Yeah, so like the other services, we look at each rating to specifically allocate enlistment bonuses. But the short answer to your primary question is there hasn’t been a significant change in the bonus amount going from ’24 to ’25. And with respect to the CAT IV, we’re tracking that closely.

    We’ve seen no increase in attrition, no increase in disciplinary actions and I attribute that mainly to the fact that every recruit that comes into the Navy meets the standard for the rating to which they are assigned. So the CAT IV is from the AFQT, which is four parts of the ASVAB [Armed Services Vocational Aptitude Battery]. Each rating is a combination of scores from those four plus the other six parts of the ASVAB, and that has never changed.

    So a CAT VI sailor that comes in with an AFQT of 22, that’s going to go be a machinist mate, meets all of the line requirements for that machinist mate and always has. We have not changed that.

    MG BOWERS:  And, ma’am, the Marine Corps does not rely on bonuses to attract and inspire young men and women of character to take up the challenge of becoming Marines. That said, we do have some new incentives for some new career fields. This year, we have $15,000 bonuses for electronic maintenance, cyber and crypto operations and information and communication tech career fields. But again, we don’t rely primarily on bonuses.

    MG RYDER:  Thank you, all. Yes, ma’am?

    Q:  Audrey Decker, DefenseOne, I want to thank you so much for doing this. I have a quick follow up. I just wanted to make sure I have this correct. So the Army and the Air Force Space Force is increasing their goal for 2025, Navy staying the same. And then I didn’t hear Major General Bowers what the Marine Corps was doing for 2025?

    MG BOWERS:  Our goal is increasing by approximately 1,800 Marines.

    Q:  And then separately, Dr. Helland, you mentioned declining eligibility and I was just wondering if there were any specific efforts to get after that and specifically in terms of previous drug use? I know there was a provision in the ’25 NDAA that would stop the services from requiring someone to test for marijuana before enlisting.

    What does the DOD think about that provision? If you could provide any more guidance there.

    DR HELLAND:  Certainly. Yeah. When we look at eligibility based on estimates, about 23 percent of youth are eligible to enlist without a waiver. That’s for any of our various standards, whether they medical dependents, moral. So with regards to medical standards, it’s something the department continually looks at and looks at advances in medical science, looking at the data for those who’ve come in with waivers to see if we can refine the medical standards.

    We’ve also instituted a medical accessions records pilot where for at this point now, 51 conditions that used to have—most of them had any history of a particular condition, we’re testing the feasibility of reducing the timeframe for those conditions. ADHD has actually been one where we’ve seen a lot of individuals come in under that [inaudible] condition.

    We’ve also seen great success as we talked through the Future Sailor Future Soldier prep course, to invest in those individuals with potential to get them to whether it be the body composition or some of our academic standards as well. With regards to drugs, certainly marijuana is still a prohibited for federal employees and we’ll have to continue to follow federal law.

    MG RYDER:  Thank you very much. Let’s go to Haley.

    Q:  Thank you. Thank you all for doing this. Dr. Helland, you mentioned that for the first time since the metric has been tracked that there is a percentage of youth who are not even considering military service. Can you say for how long has that metric been tracked?

    DR HELLAND:  I’ll have to go back and double check, but I think it’s mid like 2010 or so.

    Q:  OK. So roughly at least a decade?

    DR HELLAND:  At least a decade. Yes. Yes.

    Q:  And then I apologize, I don’t remember who mentioned MHS Genesis, but that was — I’m curious kind of what you’ve seen as the trend of that. I know that that was a pretty significant issue for a lot of recruiters and a lot of recruits of just the challenges that MHS Genesis presented. So can you kind of talk through, are you still seeing those challenges? Are those being addressed? What does that sort of look like now that we’ve kind of gotten further away from its implementation?

    DR HELLAND:  Sure. So yes, when we rolled out MHS Genesis, which is the department’s electronic health record system and when we rolled it out across MEPCOM, that provided us access to the verifiable health records, which meant we now have a lot of information on our young adults to assess Them against our medical standards.

    That did increase our workloads given the sheer volume of information that was available through those health information exchange, But we’ve been able to implement technical solutions. One of the key ones was instituting natural language processing, to go through and pick out key elements that have helped us reduce the time frame.

    We also overhauled recently our whole prescreen process, So that’s the process where we’re reviewing the documentation and then giving them the approval of our applicants to go to the various MEPs. Through our overhaul of the process, now 80 percent of our applicants are cleared to go to MEPs within 48 hours of starting that prescreened process.

    And then for those 20 percent that have more complex medical histories, we’ve reduced the timeframe where it used to be about 29 days on average to get them to Florida MEPs, we’re now down to below seven. So we’re continuing to improve our processes. And with MHS Genesis, we’re able to leverage technology more, to automate more processes, but we’ve also brought in more staff as well and working to increase the staff to address the workload.

    MG RYDER:  All right. Let’s go to the phones here. Heather Mongillo, USNI News.

    Q:  Great. Thank you so much. So I guess one of my biggest questions that I’m trying to still figure out when talking about recruiting, is it that there are a lot more people who are propense to serve right now, or is it that the different services have found that they were having roadblocks preventing people from enlisting?

    I guess I’m trying to figure out, are there just more people interested and that’s who you tapped into Or was there a problem with the way the services were recruiting that created the services not meeting the goals the past two years?

    DR HELLAND:  Certainly. I can jump in and then turn it over. But when we look at on aggregate, our measure of propensity, which is a snapshot in time when someone takes a survey, we have seen stability in a low metric for propensity. Where about 10 percent of young adults are motivated to serve, that has not changed over the past few years.

    What we are seeing is propensity growing at an individual level, right? When our recruiters get out there and make contact with the individual, they can grow propensity one person at a time. That’s where I believe we are seeing success, is the operations and what we’ve been able to get back into communities where when you think about what happened during COVID, we had to pull out of communities for almost two years. It takes time to get back in and develop those relationships again. But again, I think this is what we’re seeing is a testament to our recruiting commanders and the hard work of our recruiters.

    MG DAVIS:  Yeah. Dr. Helland, if I could add, you’re absolutely right. I think not having our superstar recruiters in high schools across the nation for some two and a half years, has certainly had an impact and really bringing awareness and the face-to-face interaction really helps to fill knowledge gaps for, in our case, the United States Army.

    And so that awareness also impacts their desire to say, well, should I consider service? We have a declining veteran population. I grew up with a family of many veterans in Wisconsin, who either served in World War II or Korea or Vietnam and they were all there to answer my questions.

    Now, with the decreasing veteran population, that is also really impacting, I think, that knowledge base and propensity of those up and coming qualified military service men and women.

    BG AMERINE:  Yeah. And if I could add, I think with Dr. Helland’s comments, on 30 years ago if you asked somebody if they had a family member, 45 hands would go up. And if you ask now, it’s somewhere between 10 and 12 or so. And it is what it is, but what I would say is one of the focus areas for the Air Force and Space Force, is building back that familiarity because over time, that created this lack of familiarity.

    And then you have these exacerbating incidents like COVID that materialized. But this has been a focus point. And I know that we all spoke to this last fall as well, is all of the services are really focusing on that lack of familiarity and getting back out into the public and getting it won [ph], whether it’s one person, one touch point at a time that General Davis said, or expanding social media campaigns to meet this generation where they are.

    But I think that, for the Air Force aspect of it, it is a deliberate line of effort for us, is expanding that total force outreach or recruiting network to be able to build back that familiarity into America. Thank you.

    RADM WATERS:  Yeah, I think it’s important in this to not equate low propensity with high anti-military sentiment. It’s really an expression of lack of knowledge, lack of familiarity, to play off my shipmate here. And I think to answer a little bit more of the question that was asked, to say, this reflects an increased number of recruiters.

    I mean, the Navy added recruiters, other services added recruiters and it also reflects the recognition that we need to increase propensity one American at a time. It’s that prospecting work that’s done by recruiters to go out not only in the schools but at career fairs. And making phone calls, social media connections, all of it to build that human to human relationship that leads to a young American, recognizing the value of service and then making a commitment to it.

    MG RYDER:  Let’s go back out to the phone here. Jeff Schogol, Task and Purpose.

    Q:  Thank you. A question for Dr. Helland about the medical accession records pilot or MARP. So as you mentioned, it’s now up to about 51 conditions. Do you foresee this as the start of something that becomes permanent, a change to military accession regulations that makes it easier for people with previously disqualifying medical conditions to enlist without having to get a waiver first? Thank you.

    DR HELLAND:  Yes, so the whole intent of this is write a pilot to test the feasibility. If we can shorten these timeframes and with the data, then to make that decision to then modify our medical accession standards. So that’s where we’re in right now that that pilot phase. Largely we are seeing positive results, and we’ll continue to monitor the data.

    So ultimately again to make that decision to about these conditions and whether we can build them into our standards instruction.

    MG RYDER:  Let’s go out to Steve Beynon, Military Times.

    Q:  I appreciate you all for doing this. A quick question for the services minus the Army and Navy. Those services have seen a lot of good early data on the prep courses. Nearly a quarter of the Army recruits in FY ’24 did one of those prep courses. Has the Air Force or Marine Corps looking into establishing their version of that and Space Force as well? Thank you.

    BG AMERINE:  Yeah, absolutely. Thanks for the question. From a holistic perspective across the Department of the Air Force for Recruiting, I would offer the answer is no, there’s not. There’s not the overarching compelling requirement that we’ve seen. However, I would say that for our special warfare accession pipeline, we do have a very deliberate development program for them.

    So as folks identify or are interested in the special warfare Air Force specialty codes, there is a very deliberate development program both from a, you know, from a mental resiliency standpoint, but also a very in-depth training physical training regimen to prepare them for that pipeline.

    MG BOWERS:  Yes, in the Marine Corps, we are not looking at starting a special program for future Marines. We have the delayed entry program that’s working very well for us.

    MG RYDER:  All right. Luis?

    Q:  Thank you. I just want to follow up on Steve’s question here because it was almost related exactly to that, but I’m going to direct my question to the Army and the Navy about the future sailor or Future Soldier Prep Course.

    Can you confirm the numbers of how many of your recruits this year actually participated in that? And having heard the other two services, why did the Navy choose to follow what the Army program was and was it based on their success or what did you find that, yes, we did have a base that really needed that was of motivated individuals who wanted to join the Navy who just needed that extra incentive.

    And then I have a follow up.

    RADM WATERS:  Yeah, so thanks for that and I don’t have the exact numbers in front of me for how many went through for the two future sailor prep course physical or academic, but the reason that we followed the Army on this was because of their great success. I mean, General Davis talked about the percentages.

    It was a wonderful example and what we found especially for on the side of future sailor prep course physical which allows us to bring some folks in that are above body fat standards by up to 6 percent and have them work with our recruit division commanders. We had a lot of highly qualified, like nuclear trained operator qualified individuals, that couldn’t quite get there.

    And so when we saw that the Army was using that, we took it on and we’re 100 percent successful on getting folks through that course. We have a few that have tapped out because this isn’t for me, but anybody that was working toward that body fat standard has made it and is in recruit training. And what we found is those sailors are committed in a way that’s above and beyond the average that’s in recruit training command and many of them have gone on to leadership positions within their recruit divisions.

    Future sailor prep course academic allowed us to provide an opportunity for young Americans to expand the opportunities within the Navy. As I mentioned before, every rating, all of them are based on individual line scores. And so by giving them some more academic training and recognition that much of America had challenges with COVID in schools to increase that opportunity and give them the opportunity to have more choice and we can fill other ratings that we wouldn’t have otherwise. That’s why we followed the Army.

    MG DAVIS:  Yeah, if I could answer the data, so if Soldier Prep course for us is about 20-21 months, total number of graduates, we’re approaching over 28,188. Now that’s just more than compo-one. So now when I talk about that number, that’s active duty, Army Reserve and National Guard, so they all benefit in the total Army with the Future Soldier Prep Course for us from last year’s mission of 55,000, over 10,326 graduated to course.

    We already have another pending shipped already to Fort Jackson about 1,500 and another, you know, 3,000 over the next, you know, quarter or so into the new year. So we are filling all of the seats because of the demand.

    So let me go back to why we’re seeing the success when we saw the during COVID the drop in test ASVAB by like ten points, that’s the segment and it wasn’t you know, recruiting command, it was actually our training and doctrine command Lieutenant Gervais and team. That said, hey, the Army’s done this before, we saw this drop, why don’t we go and try to invest in that segment and, I mean, half of them were within five points of a fully meeting, you know, three Bravo or Alpha, which allows to open up many job opportunities.

    And so that’s what we invested in and that’s why we see this transformational success. Some of them are testing out within two weeks and some of them are testing to the highest category. So now every job in the Army is now open to them just from a classroom, not, you know, from an outside agency, of course the camaraderie like students, the physical fitness, academic training every day is, I think, is building this great cohort of future soldiers.

    Now what I recommend everybody take an opportunity and visit the Future Soldier Prep Course if they haven’t down at Fort Jackson, it will be an eye opener. I’ve been many times. I love it, it’s a great course.

    Q:  My follow up is do you plan to now expand the course as it continues to get 1 in 5, So new recruits in?

    RADM WATERS:  Yes.

    Q:  And also, what do you attribute the rise in age to? You said that your average age now is 22 years, four months.

    MG DAVIS:  Yeah. So I don’t know in terms of expansion because we want to go after that labor market, expanded market. The segment that is, you know, within ten points or that that whatever the 21 to 30 we think they can test up. So I don’t think we’re going to expand that based on what we’re seeing. Now, let’s go to the — this expanded market.

    What I’m hearing from recruiters is that many are you know, graduating high school and are going on to college. And maybe that’s not for them and what our recruiters are doing is really beginning to focus on that segment of the population and it’s really starting to pay off.

    Why are they focusing on that? Because when we were short in terms of what we’re bringing in to the Army, we needed to fill training seats. So basic training battalions can be filled and we weren’t filling them. So our recruiters weren’t going to the high schools because they won’t ship until the next year, so they’re going directly into the labor market. And that has really, really blossomed for us over the last two years.

    And I want to say to our recruiters, job well done. Let’s stay at it and this, the current delayed entry program, it I think the average age is about 22 years and five months. So I see it going up and the high school market as we see the student, you know, population, let’s say decline over time, we’re going to have to expand it into the labor market or the — some college or college market.

    MG RYDER:  We have time for one more. Yes, sir.

    Q:  John Seward. Notes on the prep courses for both services. What are you all seeing in terms of retention after initial contract? And then a similar sort of related follow up for all services, which is in terms of finding qualified applicants, where does physical fitness rank as far as challenge?

    RADM WATERS:  So as far as the Future Sailor Prep Course, the physical fitness part of it has been something of a challenge to make sure that we’ve got the right fitness for folks joining the Navy, but it’s not one that’s insurmountable. And the physical part, the future sailor prep course physical has given us the ability to really get after that. Especially in our ratings that require a much, much higher-end ASVAB score to get after.

    MG DAVIS:  So for the Army, Army Research Institute is tracking every graduate, so you need more time, it’s about 20 months. So we do have a large number of graduates and what we want to do longitudinally is really find out from an academic perspective if that impacts retention as they go on to the first duty station.

    For the fitness, that’s a really good question and we’re thinking through that because we know that in the Future Soldier Prep Course they lose about 1.2 percent body fat a week. And what we want to make sure is we keep tracking them as they move on to their first duty station and figure out in terms of retention. So are they continuing on this right path or are they going down or are they going up? So that’s what we’re tracking because we really need that data to figure out, hey, is this so transformational that we need to look at, you know, other expansion opportunities.

    RADM WATERS:  Yeah. So I think some of that’s because of the length of time that we’ve been running the Future Sailor Prep Course hasn’t been significant enough to really get after that. But I can say that our attrition rates in boot camp and A-school for this cadre, both physical and academic are on par. There’s no change for that group relative to the rest of them.

    Q:  And just a follow up for all services, where does physical fitness rank in terms of?

    BG AMERINE:  For the Air Force, I had mentioned in my opening statement that over the past year, we adjusted the Air Force actually had a higher than DOD standard and we aligned with the DOD standard. Since then we brought in over 5,800 airmen under that DOD standard. We’ve had one wash out of BMT for physical fitness reasons.

    And so I think it’s, you know, from that standpoint and I will tell you we get the question a lot, hey, have you changed the standard. Well, the PFT standards have not changed for our basic training and that small policy adjustment offered 5,800 very high quality folks to come into our service and we lost one person for it. Thanks.

    MG BOWERS:  Good question. Thanks for the question. So Marine Corps recruit training is 13 weeks long. It is the toughest, most physically demanding of the entry-level training of the services. So physical fitness is therefore very important to us. This is the value of our delayed entry program. We like every applicant to spend at least 30 days in the delayed entry program so we can work with them, they can work with their recruiter and we can get them in good physical shape to improve their chances of success at recruit training.

    The delayed entry program has an additional benefit for us. While these kids are getting in good shape working with their recruiters, they bring their friends along and 25 percent of our contracts, one out of four, comes from a referral from the delayed entry program. Our Marines love the opportunity to have a delayed entry program to work with their own little squad or platoon of recruits and this gets to propensity.

    You know, we like to replace propensity with inspired. So if only 9 percent of the population is propensed [Sic], 91 percent is just waiting to be inspired. What a golden opportunity. So this is the value of our delayed entry program.

    MG RYDER:  All right, ladies and gentlemen, thank you so much. I really want to say thank you to our distinguished defense leaders, panelists today as they talk about our efforts to improve our recruiting and service goals for fiscal year ’25. Thank you very much. This concludes our press briefing.

    MIL OSI USA News –

    January 25, 2025
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