Category: Technology

  • MIL-OSI: Remittix Achieves Major Milestone with Successful Certik Audit Ahead of Upcoming PayFi Launch

    Source: GlobeNewswire (MIL-OSI)

    KOSICE, Slovakia, July 11, 2025 (GLOBE NEWSWIRE) — Remittix, a rising decentralized finance (DeFi) project focused on seamless crypto-to-fiat payments, has successfully completed a comprehensive security audit conducted by Certik, a leading blockchain security firm. This achievement marks a key step toward the official launch of Remittix’s PayFi infrastructure—a next-generation payment protocol designed to streamline crypto settlements directly to bank accounts.

    The Certik Audit, which found no critical vulnerabilities in Remittix’s smart contracts, reinforces the project’s commitment to secure and compliant development practices. The audit report provides public assurance to investors and ecosystem partners that the platform is built on a solid, tamper-resistant foundation.

    “We are proud to announce the successful completion of our Certik audit, which validates the integrity of the Remittix ecosystem,” said a Remittix spokesperson. “This milestone not only confirms the strength of our smart contract architecture but also paves the way for broader institutional partnerships and regulatory alignment as we move toward the next phase of growth.”

    Remittix is building an innovative layer in the PayFi (Payment Finance) sector, addressing long-standing challenges in crypto usability. Its platform is designed to enable direct crypto-to-fiat transactions, allowing users to send digital assets that convert instantly into fiat currencies and settle in recipients’ bank accounts—without requiring KYC on the receiver’s side. This mechanism offers both speed and privacy while maintaining compliance and transparency on the sender’s end.

    With the security assurance from Certik in place, Remittix is accelerating development and strategic integrations with local payment networks and financial providers. These developments are expected to enhance its utility across both developed and emerging markets.

    “Our mission is to simplify digital finance while ensuring user security remains uncompromised,” the spokesperson added. “The audit completion is a key validation of that promise, and we’re excited to move forward with confidence.”

    Currently in presale, the Remittix token is gaining attention for its practical use case, streamlined onboarding process, and infrastructure readiness for mass adoption. As the platform prepares for launch, the team is focused on onboarding early adopters and strengthening ecosystem partnerships.

    To learn more about Remittix or participate in the ongoing presale, please visit:

    Website: https://remittix.io
    Socials: https://linktr.ee/remittix

    About Remittix
    Remittix is a decentralized payment solution designed to bridge the gap between crypto and traditional banking. Its core platform enables real-time crypto-to-fiat transfers, offering seamless access to everyday payments via blockchain technology.

    Contact:
    Andy Černý
    andy@remittix.io

    Disclaimer: This content is provided by Remittix. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4416afe4-d6d6-45fe-b705-f43d278d6011

    The MIL Network

  • MIL-OSI: Remittix Achieves Major Milestone with Successful Certik Audit Ahead of Upcoming PayFi Launch

    Source: GlobeNewswire (MIL-OSI)

    KOSICE, Slovakia, July 11, 2025 (GLOBE NEWSWIRE) — Remittix, a rising decentralized finance (DeFi) project focused on seamless crypto-to-fiat payments, has successfully completed a comprehensive security audit conducted by Certik, a leading blockchain security firm. This achievement marks a key step toward the official launch of Remittix’s PayFi infrastructure—a next-generation payment protocol designed to streamline crypto settlements directly to bank accounts.

    The Certik Audit, which found no critical vulnerabilities in Remittix’s smart contracts, reinforces the project’s commitment to secure and compliant development practices. The audit report provides public assurance to investors and ecosystem partners that the platform is built on a solid, tamper-resistant foundation.

    “We are proud to announce the successful completion of our Certik audit, which validates the integrity of the Remittix ecosystem,” said a Remittix spokesperson. “This milestone not only confirms the strength of our smart contract architecture but also paves the way for broader institutional partnerships and regulatory alignment as we move toward the next phase of growth.”

    Remittix is building an innovative layer in the PayFi (Payment Finance) sector, addressing long-standing challenges in crypto usability. Its platform is designed to enable direct crypto-to-fiat transactions, allowing users to send digital assets that convert instantly into fiat currencies and settle in recipients’ bank accounts—without requiring KYC on the receiver’s side. This mechanism offers both speed and privacy while maintaining compliance and transparency on the sender’s end.

    With the security assurance from Certik in place, Remittix is accelerating development and strategic integrations with local payment networks and financial providers. These developments are expected to enhance its utility across both developed and emerging markets.

    “Our mission is to simplify digital finance while ensuring user security remains uncompromised,” the spokesperson added. “The audit completion is a key validation of that promise, and we’re excited to move forward with confidence.”

    Currently in presale, the Remittix token is gaining attention for its practical use case, streamlined onboarding process, and infrastructure readiness for mass adoption. As the platform prepares for launch, the team is focused on onboarding early adopters and strengthening ecosystem partnerships.

    To learn more about Remittix or participate in the ongoing presale, please visit:

    Website: https://remittix.io
    Socials: https://linktr.ee/remittix

    About Remittix
    Remittix is a decentralized payment solution designed to bridge the gap between crypto and traditional banking. Its core platform enables real-time crypto-to-fiat transfers, offering seamless access to everyday payments via blockchain technology.

    Contact:
    Andy Černý
    andy@remittix.io

    Disclaimer: This content is provided by Remittix. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4416afe4-d6d6-45fe-b705-f43d278d6011

    The MIL Network

  • MIL-OSI: Remittix Achieves Major Milestone with Successful Certik Audit Ahead of Upcoming PayFi Launch

    Source: GlobeNewswire (MIL-OSI)

    KOSICE, Slovakia, July 11, 2025 (GLOBE NEWSWIRE) — Remittix, a rising decentralized finance (DeFi) project focused on seamless crypto-to-fiat payments, has successfully completed a comprehensive security audit conducted by Certik, a leading blockchain security firm. This achievement marks a key step toward the official launch of Remittix’s PayFi infrastructure—a next-generation payment protocol designed to streamline crypto settlements directly to bank accounts.

    The Certik Audit, which found no critical vulnerabilities in Remittix’s smart contracts, reinforces the project’s commitment to secure and compliant development practices. The audit report provides public assurance to investors and ecosystem partners that the platform is built on a solid, tamper-resistant foundation.

    “We are proud to announce the successful completion of our Certik audit, which validates the integrity of the Remittix ecosystem,” said a Remittix spokesperson. “This milestone not only confirms the strength of our smart contract architecture but also paves the way for broader institutional partnerships and regulatory alignment as we move toward the next phase of growth.”

    Remittix is building an innovative layer in the PayFi (Payment Finance) sector, addressing long-standing challenges in crypto usability. Its platform is designed to enable direct crypto-to-fiat transactions, allowing users to send digital assets that convert instantly into fiat currencies and settle in recipients’ bank accounts—without requiring KYC on the receiver’s side. This mechanism offers both speed and privacy while maintaining compliance and transparency on the sender’s end.

    With the security assurance from Certik in place, Remittix is accelerating development and strategic integrations with local payment networks and financial providers. These developments are expected to enhance its utility across both developed and emerging markets.

    “Our mission is to simplify digital finance while ensuring user security remains uncompromised,” the spokesperson added. “The audit completion is a key validation of that promise, and we’re excited to move forward with confidence.”

    Currently in presale, the Remittix token is gaining attention for its practical use case, streamlined onboarding process, and infrastructure readiness for mass adoption. As the platform prepares for launch, the team is focused on onboarding early adopters and strengthening ecosystem partnerships.

    To learn more about Remittix or participate in the ongoing presale, please visit:

    Website: https://remittix.io
    Socials: https://linktr.ee/remittix

    About Remittix
    Remittix is a decentralized payment solution designed to bridge the gap between crypto and traditional banking. Its core platform enables real-time crypto-to-fiat transfers, offering seamless access to everyday payments via blockchain technology.

    Contact:
    Andy Černý
    andy@remittix.io

    Disclaimer: This content is provided by Remittix. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4416afe4-d6d6-45fe-b705-f43d278d6011

    The MIL Network

  • MIL-OSI: FirstCash Announces Settlement of CFPB Litigation Related to Military Lending Act

    Source: GlobeNewswire (MIL-OSI)

    FORT WORTH, Texas, July 11, 2025 (GLOBE NEWSWIRE) — FirstCash Holdings, Inc. (“FirstCash” or the “Company”) (Nasdaq: FCFS), a leading international operator of over 3,000 retail pawn stores in the U.S. and Latin America, today announced that it has reached a settlement with the Consumer Financial Protection Bureau (“CFPB”) regarding alleged violations of the Military Lending Act.

    Rick Wessel, CEO of FirstCash, stated, “We are pleased to have reached this agreement with the CFPB. While we disagree with the CFPB’s allegations regarding our military lending practices, we believe that agreeing to this settlement and putting this matter behind us is the best path forward for the Company. We remain committed to  best meeting the needs of our customers, including members of the military and their families, and to continue providing excellent service.”

    As part of the settlement, which remains subject to final court approval, FirstCash has agreed to offer a new pawn lending product for covered members of the U.S. military and their immediate families and dependents. Additionally, the Company will pay consumer redress in fees or principal returned to affected customers, which is estimated to be between $5 million and $7 million, and a $4 million fine to the CFPB victims relief fund. The financial impact of the settlement will be reflected in the Company’s GAAP financial results for the second quarter of 2025.

    About FirstCash

    FirstCash is a leading international operator of pawn stores focused on serving cash and credit-constrained consumers. FirstCash’s more than 3,000 pawn stores in the U.S. and Latin America buy and sell a wide variety of jewelry, electronics, tools, appliances, sporting goods, musical instruments and other merchandise, and make small non-recourse pawn loans secured by pledged personal property. FirstCash’s pawn segments in the U.S. and Latin America currently account for approximately 80% of annualized segment earnings, with the remainder provided by its wholly owned subsidiary, AFF, which provides lease-to-own and retail finance payment solutions for consumer goods and services.

    FirstCash is a component company in both the Standard & Poor’s MidCap 400 Index® and the Russell 2000 Index®. FirstCash’s common stock (ticker symbol “FCFS”) is traded on the Nasdaq, the creator of the world’s first electronic stock market. For additional information regarding FirstCash and the services it provides, visit FirstCash’s websites located at http://www.firstcash.com and http://www.americanfirstfinance.com.

    For further information, please contact:
    Gar Jackson
    Global IR Group
    Phone: (817) 886-6998
    Email: gar@globalirgroup.com

    Doug Orr, Executive Vice President and Chief Financial Officer
    Phone: (817) 258-2650
    Email: investorrelations@firstcash.com
    Website: investors.firstcash.com

    The MIL Network

  • MIL-OSI: FirstCash Announces Settlement of CFPB Litigation Related to Military Lending Act

    Source: GlobeNewswire (MIL-OSI)

    FORT WORTH, Texas, July 11, 2025 (GLOBE NEWSWIRE) — FirstCash Holdings, Inc. (“FirstCash” or the “Company”) (Nasdaq: FCFS), a leading international operator of over 3,000 retail pawn stores in the U.S. and Latin America, today announced that it has reached a settlement with the Consumer Financial Protection Bureau (“CFPB”) regarding alleged violations of the Military Lending Act.

    Rick Wessel, CEO of FirstCash, stated, “We are pleased to have reached this agreement with the CFPB. While we disagree with the CFPB’s allegations regarding our military lending practices, we believe that agreeing to this settlement and putting this matter behind us is the best path forward for the Company. We remain committed to  best meeting the needs of our customers, including members of the military and their families, and to continue providing excellent service.”

    As part of the settlement, which remains subject to final court approval, FirstCash has agreed to offer a new pawn lending product for covered members of the U.S. military and their immediate families and dependents. Additionally, the Company will pay consumer redress in fees or principal returned to affected customers, which is estimated to be between $5 million and $7 million, and a $4 million fine to the CFPB victims relief fund. The financial impact of the settlement will be reflected in the Company’s GAAP financial results for the second quarter of 2025.

    About FirstCash

    FirstCash is a leading international operator of pawn stores focused on serving cash and credit-constrained consumers. FirstCash’s more than 3,000 pawn stores in the U.S. and Latin America buy and sell a wide variety of jewelry, electronics, tools, appliances, sporting goods, musical instruments and other merchandise, and make small non-recourse pawn loans secured by pledged personal property. FirstCash’s pawn segments in the U.S. and Latin America currently account for approximately 80% of annualized segment earnings, with the remainder provided by its wholly owned subsidiary, AFF, which provides lease-to-own and retail finance payment solutions for consumer goods and services.

    FirstCash is a component company in both the Standard & Poor’s MidCap 400 Index® and the Russell 2000 Index®. FirstCash’s common stock (ticker symbol “FCFS”) is traded on the Nasdaq, the creator of the world’s first electronic stock market. For additional information regarding FirstCash and the services it provides, visit FirstCash’s websites located at http://www.firstcash.com and http://www.americanfirstfinance.com.

    For further information, please contact:
    Gar Jackson
    Global IR Group
    Phone: (817) 886-6998
    Email: gar@globalirgroup.com

    Doug Orr, Executive Vice President and Chief Financial Officer
    Phone: (817) 258-2650
    Email: investorrelations@firstcash.com
    Website: investors.firstcash.com

    The MIL Network

  • MIL-OSI USA: “This is Groundhog Day!” – Cortez Masto Presses Forest Service Chief on Reversal of Ruby Mountains Speculative Drilling Ban

    US Senate News:

    Source: United States Senator for Nevada Cortez Masto
     ***VIDEO AVAILABLE***

    FTPs for TV stations is available here.
    Washington, D.C. – U.S. Senator Catherine Cortez Masto (D-Nev.) pressed U.S. Forest Service Chief Tom Schultz for answers about the Trump administration’s decision to reopen the Ruby Mountains to speculative oil and gas drilling. She emphasized the broad opposition to this reversal in Nevada. Cortez Masto led the push that resulted in the Biden administration protecting the Rubies from speculative drilling in 2024.
    Sen. Cortez Masto questioned Chief Schultz on why the Forest Service made this sudden reversal on the Ruby Mountains: “The Biden administration announced it was establishing a 20-year administrative withdrawal process to protect Ruby Mountain area from oil and gas leasing. However, this administration, the Trump administration, reversed these protections for the Rubies. […] Let me just be clear: Nevadans don’t want drilling in the Ruby Mountains. So, I’m curious, what production of critical minerals does the Forest Service expect to develop in the Ruby Mountains?”
    Chief Schultz responded, “Typically what happens with leasing of minerals, the Forest Service isn’t out there trying to basically promote a certain activity or not, but it would be made available if someone deemed there was a resource there, that would be available for leasing.”
    In 2019, during President Trump’s first term, the Forest Service had already deemed the Ruby Mountains unsuitable for speculative leasing. Senator Cortez Masto called out the absurdity of Schultz’s suggestion: “But that’s already been done, that is my point. It seems like everything that has been done in the past, including the speculative leasing that has been denied in the past, is being ignored because it was done under a previous administration. It makes no sense. We’re wasting the resources of your men and women […] because this administration thinks they have to start from scratch. […] This is Groundhog Day! I mean, literally, we are repeating this over and over again. What is going on?”
    Senator Cortez Masto has been a champion for Nevada’s great outdoor spaces and public lands. She passed critical legislation to permanently fund the Land and Water Conservation Fund (LWCF), which protects public lands in Nevada and across the U.S., and her bipartisan, bicameral legislation to restore Lake Tahoe was passed into law last year. She delivered critical funding to protect Lake Tahoe in the Bipartisan Infrastructure Law. Cortez Masto also helped pass the historic Great American Outdoors Act, which was signed into law and provides robust funding to preserve and maintain public lands across the country. 

    MIL OSI USA News

  • MIL-OSI USA: ICYMI: Shaheen Applauds Inclusion of Her Provision to Safeguard Ukraine Assistance in Committee-Passed Annual Defense Bill

    US Senate News:

    Source: United States Senator for New Hampshire Jeanne Shaheen
    (Washington, DC) – U.S. Senator Jeanne Shaheen (D-NH), a top member of the U.S. Senate Armed Services Committee and Ranking Member of the U.S. Foreign Relations Committee, applauded the inclusion of her provision that would put up guardrails to prevent the Pentagon from diverting assistance to Ukraine in the Fiscal Year (FY) 2026 National Defense Authorization Act (NDAA) that advanced out of the U.S. Senate Armed Services Committee (SASC). The amendment comes after the Pentagon’s misguided decision to divert vital military aid for Ukraine last week and eventual reversal by President Trump.  
    Specifically, Shaheen’s amendment prevents the U.S. Department of Defense from accepting back into stock or diverting equipment that was put on contract for Ukraine under the Ukraine Security Assistance Initiative (USAI). The Committee-passed bill also includes Shaheen-authored amendments that allow the continued sharing of U.S. information, intelligence and imagery to support the Ukrainian Armed Forces on the battlefield and prevent cuts to security cooperation funding for U.S. forces in Europe.   
    “As Russia continues to pummel Ukraine, it’s absolutely critical that the United States provides Ukraine with the military assistance it has been promised. That’s why it was deeply troubling to see Secretary Hegseth’s unilateral attempt to abruptly halt munitions shipments to Ukraine last week. While the administration ultimately reversed course on this short-sighted decision, it’s clear that Congress needs to establish stronger guardrails to prevent the Secretary from diverting assistance again—Ukrainian lives cannot be vulnerable to short-sighted, unilateral actions.  
    “I was pleased to see my amendment to prohibit the Pentagon from diverting military aid meant for Ukraine clear the Senate Armed Services Committee with bipartisan support. If we’re going to get Putin to the negotiating table, the United States has to uphold its commitment and deliver the equipment we’ve pledged for Ukraine. We must help Ukraine defend its skies and protect civilians from Russia’s continuous aerial assaults. Congress’ support for Ukraine and a lasting peace remains strong, and I look forward to seeing my provision clear the full Senate and then signed into law by the President.”
    The Committee-passed NDAA also includes the following Shaheen-led amendments: 
    To allow the continued sharing of U.S. information, intelligence and imagery to support the Ukrainian Armed Forces on the battlefield and prevent cuts to security cooperation funding for U.S. forces in Europe; 
    To require the executive branch to consult with Congress and NATO Allies before any attempt to withdraw U.S. forces from Europe or abdicate the Commander of U.S. European Command’s dual role of Supreme Allied Commander Europe;  
    To require the Pentagon to consult with Congress before making changes to U.S. military force posture in Europe and on the Korean Peninsula. 

    MIL OSI USA News

  • MIL-OSI USA: SPC Tornado Watch 508

    Source: US National Oceanic and Atmospheric Administration

    Note:  The expiration time in the watch graphic is amended if the watch is replaced, cancelled or extended.Note: Click for Watch Status Reports.
    SEL8

    URGENT – IMMEDIATE BROADCAST REQUESTED
    Tornado Watch Number 508
    NWS Storm Prediction Center Norman OK
    450 PM CDT Fri Jul 11 2025

    The NWS Storm Prediction Center has issued a

    * Tornado Watch for portions of
    Northern Illinois
    Southern Wisconsin

    * Effective this Friday afternoon and evening from 450 PM until
    1100 PM CDT.

    * Primary threats include…
    A few tornadoes possible
    Scattered damaging winds likely with isolated significant gusts
    to 75 mph possible
    Isolated large hail events to 1.5 inches in diameter possible

    SUMMARY…A small but intense bow will move quickly eastward this
    evening while posing a threat for a few tornadoes and scattered to
    numerous severe/damaging winds. Peak gusts may reach up to 65-75
    mph. Isolated large hail may also occur.

    The tornado watch area is approximately along and 55 statute miles
    east and west of a line from 10 miles east northeast of Madison WI
    to 55 miles south southeast of Rockford IL. For a complete depiction
    of the watch see the associated watch outline update (WOUS64 KWNS
    WOU8).

    PRECAUTIONARY/PREPAREDNESS ACTIONS…

    REMEMBER…A Tornado Watch means conditions are favorable for
    tornadoes and severe thunderstorms in and close to the watch
    area. Persons in these areas should be on the lookout for
    threatening weather conditions and listen for later statements
    and possible warnings.

    &&

    OTHER WATCH INFORMATION…CONTINUE…WW 505…WW 506…WW 507…

    AVIATION…Tornadoes and a few severe thunderstorms with hail
    surface and aloft to 1.5 inches. Extreme turbulence and surface wind
    gusts to 65 knots. A few cumulonimbi with maximum tops to 550. Mean
    storm motion vector 27045.

    …Gleason

    Note: The Aviation Watch (SAW) product is an approximation to the watch area. The actual watch is depicted by the shaded areas.
    SAW8
    WW 508 TORNADO IL WI 112150Z – 120400Z
    AXIS..55 STATUTE MILES EAST AND WEST OF LINE..
    10ENE MSN/MADISON WI/ – 55SSE RFD/ROCKFORD IL/
    ..AVIATION COORDS.. 50NM E/W /35SE DLL – 18WSW JOT/
    HAIL SURFACE AND ALOFT..1.5 INCHES. WIND GUSTS..65 KNOTS.
    MAX TOPS TO 550. MEAN STORM MOTION VECTOR 27045.

    LAT…LON 43188806 41468763 41468976 43189024

    THIS IS AN APPROXIMATION TO THE WATCH AREA. FOR A
    COMPLETE DEPICTION OF THE WATCH SEE WOUS64 KWNS
    FOR WOU8.

    Watch 508 Status Report Message has not been issued yet.

    Note:  Click for Complete Product Text.Tornadoes

    Probability of 2 or more tornadoes

    Mod (50%)

    Probability of 1 or more strong (EF2-EF5) tornadoes

    Low (20%)

    Wind

    Probability of 10 or more severe wind events

    High (70%)

    Probability of 1 or more wind events > 65 knots

    Mod (30%)

    Hail

    Probability of 10 or more severe hail events

    Mod (30%)

    Probability of 1 or more hailstones > 2 inches

    Low (10%)

    Combined Severe Hail/Wind

    Probability of 6 or more combined severe hail/wind events

    High (90%)

    For each watch, probabilities for particular events inside the watch (listed above in each table) are determined by the issuing forecaster. The “Low” category contains probability values ranging from less than 2% to 20% (EF2-EF5 tornadoes), less than 5% to 20% (all other probabilities), “Moderate” from 30% to 60%, and “High” from 70% to greater than 95%. High values are bolded and lighter in color to provide awareness of an increased threat for a particular event.

    MIL OSI USA News

  • MIL-OSI United Nations: New Permanent Representative of Grenada Presents Credentials

    Source: United Nations General Assembly and Security Council

    The new Permanent Representative of Grenada to the United Nations, Ingrid Jackson, presented her credentials to UN Secretary-General António Guterres today.

    (As provided by the Protocol and Liaison Service)

    PROFILE

    Diverse and multifaceted individual, possessing a unique blend of expertise in both the private sector and public service, and leveraging my experience to effectively navigate complex socio- economic, cultural, and political landscapes

    EXPERIENCE

    Kingdom Homes
    CEO
    2019 – PRESENT
    •     Developed and implemented effective business strategies to drive revenue growth, optimize operational efficiency, and enhance customer satisfaction. • Conducted market research and analysis to identify new business opportunities and drive marketing initiatives.

    RESNET
    Director, Finance
    2016 -2019
    •     Developed and implemented financial strategies to drive profitability, cost control, and efficient resource allocation. • Implemented internal controls and compliance measures to ensure accurate financial reporting and adherence to regulatory requirements.

    EJIS LLC
    Managing Director
    2013 -2016
    •     Collaborated with cross-functional teams to develop and execute strategic initiatives, aligning financial objectives with organizational goals. • Built and maintained strong relationships with clients, vendors, and partners to foster business development and strategic alliances.

    Government of Grenada
    Ambassador for Diaspora Affairs
    2012 -2013
    •     Engaged with the diaspora community to promote cultural ties, economic connections, and political cooperation. • Organized events and initiatives to strengthen national identity among expatriates and encourage their participation in the host country’s civic and economic activities during Homecoming 2012.

    Attache to the OAS
    2008 -2011
    •     Represented the interests of Grenada in foreign affairs and facilitated diplomatic relations with hemispheric nations • Engaged in diplomatic negotiations, including mediating conflicts and facilitating agreements. • Fostered cross-cultural understanding and public diplomacy initiatives

    SKILLS

    •     Strategic Planning
    •     Critical Thinking
    •     Solutions Provision
    •     Project management
    •     Integrated technologies

    EDUCATION

    2010 -2013  Walden University
    PhD Public Policy & Administration, ABD
    Concentration: Public Administration & Leadership (GPA:4.0)

    2007 – 2009 Andrews University
    MBA

    2003 – 2006 Andrews University
    BSc Business Education Graduated Summa Cum Laude

    PROFESSIONAL TRAINING & MEMBERSHIP

    Covenant University 2024
    African Leadership Development Center
    Professional Leadership Diploma

    The National Association of Women in Construction

    National Association of Realtors

    SERVICE

    2024 – Present Interim Chair, Dorcas Foundation

    2023 – Present Minister, Winners Chapel Intl. GND

    MIL OSI United Nations News

  • MIL-OSI: Privacy Tech Pioneer Jeffry Jared Davies Expands xShield Global Reach with Multi-Language Security Platform

    Source: GlobeNewswire (MIL-OSI)

    London, UK, July 11, 2025 (GLOBE NEWSWIRE) — Serial entrepreneur Jeffry Jared Davies has successfully launched xShield, a groundbreaking consumer privacy SAAS platform now available in more than eight languages worldwide. The comprehensive security software, accessible through both the Apple App Store and Google Play Store, represents a major breakthrough in making advanced cybersecurity tools accessible to everyday consumers across global markets.

    Davies, who has been pioneering digital innovation for over 25 years, co-founded xShield to address the growing need for user-friendly, comprehensive online security solutions. The platform consolidates multiple security features into a single, intuitive interface, eliminating the complexity that has traditionally made robust cybersecurity inaccessible to average consumers. With its multi-language support and cross-platform availability, xShield is positioned to serve millions of users worldwide who require reliable digital protection without technical expertise.

    The entrepreneur’s journey began at age 23, fresh from graduate school, when he founded one of the first consumer-facing mobile application portals. This early venture demonstrated his prescient understanding of mobile technology’s potential, years before smartphones became ubiquitous. His pioneering work in mobile platforms laid the foundation for a diverse portfolio spanning multiple high-growth technology sectors.

    Throughout his career, Davies has successfully founded and operated multiple iterations of i-gaming companies, establishing himself as a leader in digital entertainment technology. His expertise extends into the financial technology sector, where he has developed successful SAAS companies focused on payment solutions. This diverse background in mobile technology, gaming platforms, and financial systems has uniquely positioned him to understand the security challenges facing modern consumers across different digital touchpoints.

    Currently serving on the boards of three companies across various sectors, Davies brings strategic oversight and entrepreneurial insight to organizations beyond his own ventures. His European base provides valuable perspective on international privacy regulations and global technology adoption patterns, informing xShield’s development for worldwide markets.

    The xShield platform represents the culmination of Davies’ 25-year expertise in consumer technology. By integrating advanced security features typically found in enterprise solutions into a consumer-friendly package, the software addresses a critical gap in the cybersecurity market. Users can access comprehensive protection through a single application, eliminating the need to manage multiple security tools or navigate complex technical configurations.

    Recent developments include expanded language support to serve diverse international markets and continued enhancement of the platform’s security capabilities. The software’s availability on major mobile app stores ensures easy access for consumers worldwide, while its intuitive design makes advanced cybersecurity accessible to users regardless of technical background.

    “We created xShield because consumers deserve enterprise-level security without enterprise-level complexity,” said Davies. “After 25 years of building technology platforms, I’ve seen how the gap between available security tools and user accessibility has grown. xShield bridges that gap by delivering comprehensive protection through elegant, user-friendly design.”

    Looking ahead, Davies continues to focus on expanding xShield’s global reach while developing new features that anticipate evolving cybersecurity threats. His commitment to democratizing digital security reflects a broader vision of technology serving everyday users rather than requiring specialized expertise.

    About xShield xShield is a comprehensive consumer privacy SAAS platform available in multiple languages worldwide. The software provides advanced online security features through an intuitive interface, available on iOS and Android platforms. For more information, visit xshield.com.

    Media Contact: 

    Shazir Mucklai 
    shazir-at-imperium-pr.com
    Imperium AI

    The MIL Network

  • MIL-OSI: Southside Bancshares, Inc. Announces Second Quarter Earnings Call

    Source: GlobeNewswire (MIL-OSI)

    TYLER, Texas, July 11, 2025 (GLOBE NEWSWIRE) — Southside Bancshares, Inc. (“Southside”) (NYSE: SBSI), the holding company for Southside Bank, announced today it will release its second quarter financial results before the market opens on Friday, July 25, 2025. Southside will host a conference call to discuss its results on Friday, July 25, 2025, at 11:00 a.m. CDT.

    The call will be hosted by Lee R. Gibson, CEO, Keith Donahoe, President, Julie Shamburger, CFO, and Lindsey Bailes, VP, Investor Relations. Following prepared remarks there will be a question and answer session for the analyst community.

    The Conference Call Details

    The conference call can be accessed by webcast, for listen-only mode, here or on the company website, https://investors.southside.com, under Events.

    Those interested in participating in the question and answer session, or others who prefer to call-in, can register using this online form to receive the dial-in number and unique code to access the conference call seamlessly. While not required, it is recommended that those wishing to participate register 10 minutes prior to the conference call to ensure a more efficient registration process.

    For those unable to attend the live event, a webcast recording will be available here or on the company website, https://investors.southside.com, for at least 30 days, beginning approximately two hours following the conference call.

    About Southside Bancshares, Inc.

    Southside Bancshares, Inc. is a bank holding company headquartered in Tyler, Texas, with approximately $8.34 billion in assets as of March 31, 2025. Through its wholly-owned subsidiary, Southside Bank, Southside currently operates 53 branches and a network of 71 ATMs/ITMs throughout East Texas, Southeast Texas and the greater Dallas/Fort Worth, Austin and Houston areas. Serving customers since 1960, Southside Bank is a community-focused financial institution that offers a full range of financial products and services to individuals and businesses. These products and services include consumer and commercial loans, mortgages, deposit accounts, safe deposit boxes, treasury management, wealth management, trust services, brokerage services and an array of online and mobile services.

    To learn more about Southside Bancshares, Inc., please visit our investor relations website at https://investors.southside.com. Our investor relations site provides a detailed overview of our activities, financial information and historical stock price data. To receive e-mail notification of company news, events and stock activity, please register on the website under Resources and Investor Email Alerts. Questions or comments may be directed to Lindsey Bailes at 903-630-7965 or lindsey.bailes@southside.com.

    For further information:                                
    Lindsey Bailes
    903-630-7965

    The MIL Network

  • MIL-OSI: BJMining Launches XRP-Compatible Cloud Mining Contracts Amid Market Volatility and Increased XRP Demand

    Source: GlobeNewswire (MIL-OSI)

    WASHINGTON, D.C., July 12, 2025 (GLOBE NEWSWIRE) — As XRP experiences a sharp increase in market interest during July’s volatile crypto climate, BJMining has announced a timely expansion of its global mining services by enabling XRP as a supported asset for its cloud-based mining contracts. The development comes as part of BJMining’s commitment to providing more accessible and diversified digital asset options for global users.

    The recent market uptick—marked by Ethereum gas fee reductions, Bitcoin stabilizing above $114,000, and a surge in Solana activity—has prompted investors to revisit XRP’s long-term utility. Amid this environment, BJMining’s new support for XRP-based cloud mining aims to meet demand from investors seeking stable digital income models beyond traditional coin-holding strategies.

    Transforming Passive Holdings into Productive Assets

    With XRP lacking a native staking mechanism, many long-term holders have had limited opportunities to earn on idle assets. BJMining addresses this gap by offering a system where users can participate in crypto mining using XRP as payment for cloud-based contract plans.

    “By integrating XRP as a payment and mining option, we’re giving users a practical way to generate income without needing advanced technical knowledge or infrastructure,” said a BJMining representative. “This is especially important for those looking to diversify and stabilize their exposure in the crypto sector.”

    BJMining’s seven advantages make mining easy and reliable

    • Sign up and get $15: New users can get a $15 when they register, and can start mining without recharging;
    • No equipment or maintenance required:The platform is responsible for operation and maintenance and energy consumption management throughout the process, and users only need to select a contract to start earning profits;
    • AI Intelligent Scheduling System:Automatically determine the currency market and mining difficulty, dynamically allocate computing power, and improve yield;
    • Green energy drive:All mines use clean energy such as wind, hydro, and solar energy, which is in line with the global trend of carbon neutrality;
    • Funds and data security:McAfee + Cloudflare dual protection architecture, user assets are fully insured by AIG;
    • Supports flexible withdrawals in multiple currencies: BTC, DOGE, ETH, XRP, USDT and other mainstream assets, fast arrival without waiting;
    • Flexible promotion rebate mechanism: Invite friends to enjoy up to 5% commission reward, with no upper limit, to build your passive income network.

    Mainstream contract recommendations to suit different investment objectives

    BJMining currently has a variety of main contracts online, covering short-term trials to long-term stable configurations:

    •  WhatsMiner M50S+:Invest $100 for 2 days, total net income is $106;
    • WhatsMiner M60S++:Invest $600 for 7 days, total net income is $652.50;
    • Avalon Miner A1566:Invest $1200 for 15 days, total net income is $1434;
    • WhatsMiner M66S+:Invest $5800 for 30 days, total net income is $8410;
    • Antminer L7:Invest $12000 for 40 days, total net income is $20160;
    • Antminer S21e XP Hyd:Invest $27000 for 45 days, total net income is $48870;

    All contracts support XRP payment, which takes effect immediately after purchase, and you can start receiving daily dividends the next day.

    About BJMining

    Founded in 2015, BJMining is a UK-headquartered cloud mining provider serving over 5 million users across more than 180 countries. Operating more than 60 mining farms and 1.2 million mining machines globally, the company leverages AI-driven scheduling and renewable energy infrastructure to deliver secure and energy-efficient mining services.

    All mining operations are backed by enterprise-grade security architecture and insurance protocols. BJMining supports asset management in multiple cryptocurrencies, including BTC, ETH, DOGE, and now XRP.

    Forward Outlook

    As cryptocurrency continues to evolve from speculative trading to asset-backed income generation, BJMining’s expansion of payment options reflects a broader industry shift toward accessibility, energy sustainability, and risk-managed crypto investing.

    For more information about BJMining’s latest XRP-supported features or to explore its global mining offerings, visit https://bjmining.com or contact:

    Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

    The MIL Network

  • MIL-OSI: AI Mining Takes on Ripple’s XRP: PFMCrypto Launches Zero-Hardware XRP Cloud Mining with Daily Rewards

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, July 11, 2025 (GLOBE NEWSWIRE) — As Ripple’s XRP ecosystem gains global momentum, PFMCrypto is proud to introduce a major leap in accessible crypto mining: the launch of XRP-focused cloud mining contracts. Now available on both web and mobile platforms, these flexible short-term contracts allow users to mine XRP remotely and receive daily XRP rewards—no mining hardware, no complex setup, and no prior experience required. For the first time, retail participants can engage with the XRP economy through a streamlined, fully integrated platform.
    Explore the PFMCrypto website or download the app today.

    XRP Cloud Mining Is Here—Simple, Smart, and Rewarding
    Traditionally known for its role in cross-border payments and institutional finance, XRP now enters a new chapter with PFMCrypto’s latest innovation: easy-to-use cloud mining. Users can mine XRP directly or leverage PFMCrypto’s intelligent AI engine to automatically switch between the most profitable assets—including BTC, ETH, DOGE, USDC, and more—for optimized returns. All earnings are paid out daily in your chosen cryptocurrency, providing reliable income regardless of market fluctuations.
    Designed for both everyday users and professional investors, this platform empowers users to generate consistent crypto earnings from anywhere, at any time.

    Key Features of PFMCrypto’s XRP Cloud Mining Contracts
    –  Full XRP Integration: Deposit, purchase, mine, and withdraw XRP directly within the platform.
    –  Multi-Coin Mining Support: Mine and receive earnings in BTC, ETH, DOGE, USDC, USDT, SOL, LTC, and BCH.
    –  AI Revenue Optimization: Proprietary algorithms automatically allocate mining power to the top-performing assets to maximize returns.
    –  100% Remote Access: No mining equipment needed—fully accessible via the PFMCrypto mobile app or browser.
    –  Capital Protection: All contracts include full principal return upon maturity, reducing risk while growing crypto assets.

    Mining Contracts for Every Budget and Strategy:
    PFMCrypto offers a broad range of mining contracts that support XRP-based deposits and withdrawals. Each contract is crafted for flexibility, predictable income, and effective risk management:
    $10 Contract – 1 Day – Earn $0.66 (Free with signup bonus)
    $100 Contract – 2 Days – Earn $3.00 daily + $2 reward
    $500 Contract – 5 Days – Earn $6.15 daily
    $5,000 Contract – 30 Days – Earn $78.50 daily
    $20,000 Contract – 45 Days – Earn $380.00 daily
    Whether you’re testing the waters or building a long-term portfolio, PFMCrypto provides low-risk, high-transparency contracts that deliver stable daily income in XRP.
    Click here to explore more XRP cloud contracts.

    Why PFMCrypto’s XRP Mining Stands Out?
    –  Accessible to Everyone: No mining rigs, no setup, no complexity—just tap and earn.
    –  XRP-Native Integration: Deposit, mine, and withdraw XRP in one seamless ecosystem.
    –  Stable Returns, Smart Allocation: An AI-powered engine dynamically adjusts mining strategies to maximize rewards and ensure daily income across all supported coins.
    –  Multi-Asset Flexibility: Mine XRP directly or diversify earnings into other top digital assets—all with one contract.
    –  Instant Setup, Global Access: Mine from anywhere using your phone or browser—securely and remotely.

    Get Started Today in 3 Easy Steps:
    1.  Sign Up – Create your account and receive a $10 welcome bonus
    2.  Choose a Plan – Select a short- or long-term contract (1–60 days available)
    3.  Start Earning – Track daily profits and withdraw in the token of your choice

    Start mining XRP now at: https://pfmcrypto.net 
    Or download the PFMCrypto mobile app (available for iOS & Android).

    XRP Mining for a Digital Future
    Since 2018, PFMCrypto has helped millions of users around the world generate passive crypto income through secure, smart, cloud-based mining. With the introduction of XRP mining, the platform offers the ideal combination of institutional-grade infrastructure and retail accessibility. Now, users can choose to earn directly in XRP or diversify into major digital assets—all within a secure, fully remote environment.

    “XRP has always been fast, efficient, and scalable,” said a PFMCrypto spokesperson. “Now, it’s also mineable—securely, remotely, and profitably. We’ve eliminated the barriers so anyone can participate in XRP’s future growth.”
    Markets may shift—but daily mining income can remain steady.

    Join the XRP mining revolution today at: https://pfmcrypto.net 

    The MIL Network

  • MIL-OSI: AI Mining Takes on Ripple’s XRP: PFMCrypto Launches Zero-Hardware XRP Cloud Mining with Daily Rewards

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, July 11, 2025 (GLOBE NEWSWIRE) — As Ripple’s XRP ecosystem gains global momentum, PFMCrypto is proud to introduce a major leap in accessible crypto mining: the launch of XRP-focused cloud mining contracts. Now available on both web and mobile platforms, these flexible short-term contracts allow users to mine XRP remotely and receive daily XRP rewards—no mining hardware, no complex setup, and no prior experience required. For the first time, retail participants can engage with the XRP economy through a streamlined, fully integrated platform.
    Explore the PFMCrypto website or download the app today.

    XRP Cloud Mining Is Here—Simple, Smart, and Rewarding
    Traditionally known for its role in cross-border payments and institutional finance, XRP now enters a new chapter with PFMCrypto’s latest innovation: easy-to-use cloud mining. Users can mine XRP directly or leverage PFMCrypto’s intelligent AI engine to automatically switch between the most profitable assets—including BTC, ETH, DOGE, USDC, and more—for optimized returns. All earnings are paid out daily in your chosen cryptocurrency, providing reliable income regardless of market fluctuations.
    Designed for both everyday users and professional investors, this platform empowers users to generate consistent crypto earnings from anywhere, at any time.

    Key Features of PFMCrypto’s XRP Cloud Mining Contracts
    –  Full XRP Integration: Deposit, purchase, mine, and withdraw XRP directly within the platform.
    –  Multi-Coin Mining Support: Mine and receive earnings in BTC, ETH, DOGE, USDC, USDT, SOL, LTC, and BCH.
    –  AI Revenue Optimization: Proprietary algorithms automatically allocate mining power to the top-performing assets to maximize returns.
    –  100% Remote Access: No mining equipment needed—fully accessible via the PFMCrypto mobile app or browser.
    –  Capital Protection: All contracts include full principal return upon maturity, reducing risk while growing crypto assets.

    Mining Contracts for Every Budget and Strategy:
    PFMCrypto offers a broad range of mining contracts that support XRP-based deposits and withdrawals. Each contract is crafted for flexibility, predictable income, and effective risk management:
    $10 Contract – 1 Day – Earn $0.66 (Free with signup bonus)
    $100 Contract – 2 Days – Earn $3.00 daily + $2 reward
    $500 Contract – 5 Days – Earn $6.15 daily
    $5,000 Contract – 30 Days – Earn $78.50 daily
    $20,000 Contract – 45 Days – Earn $380.00 daily
    Whether you’re testing the waters or building a long-term portfolio, PFMCrypto provides low-risk, high-transparency contracts that deliver stable daily income in XRP.
    Click here to explore more XRP cloud contracts.

    Why PFMCrypto’s XRP Mining Stands Out?
    –  Accessible to Everyone: No mining rigs, no setup, no complexity—just tap and earn.
    –  XRP-Native Integration: Deposit, mine, and withdraw XRP in one seamless ecosystem.
    –  Stable Returns, Smart Allocation: An AI-powered engine dynamically adjusts mining strategies to maximize rewards and ensure daily income across all supported coins.
    –  Multi-Asset Flexibility: Mine XRP directly or diversify earnings into other top digital assets—all with one contract.
    –  Instant Setup, Global Access: Mine from anywhere using your phone or browser—securely and remotely.

    Get Started Today in 3 Easy Steps:
    1.  Sign Up – Create your account and receive a $10 welcome bonus
    2.  Choose a Plan – Select a short- or long-term contract (1–60 days available)
    3.  Start Earning – Track daily profits and withdraw in the token of your choice

    Start mining XRP now at: https://pfmcrypto.net 
    Or download the PFMCrypto mobile app (available for iOS & Android).

    XRP Mining for a Digital Future
    Since 2018, PFMCrypto has helped millions of users around the world generate passive crypto income through secure, smart, cloud-based mining. With the introduction of XRP mining, the platform offers the ideal combination of institutional-grade infrastructure and retail accessibility. Now, users can choose to earn directly in XRP or diversify into major digital assets—all within a secure, fully remote environment.

    “XRP has always been fast, efficient, and scalable,” said a PFMCrypto spokesperson. “Now, it’s also mineable—securely, remotely, and profitably. We’ve eliminated the barriers so anyone can participate in XRP’s future growth.”
    Markets may shift—but daily mining income can remain steady.

    Join the XRP mining revolution today at: https://pfmcrypto.net 

    The MIL Network

  • MIL-OSI: AI Mining Takes on Ripple’s XRP: PFMCrypto Launches Zero-Hardware XRP Cloud Mining with Daily Rewards

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, July 11, 2025 (GLOBE NEWSWIRE) — As Ripple’s XRP ecosystem gains global momentum, PFMCrypto is proud to introduce a major leap in accessible crypto mining: the launch of XRP-focused cloud mining contracts. Now available on both web and mobile platforms, these flexible short-term contracts allow users to mine XRP remotely and receive daily XRP rewards—no mining hardware, no complex setup, and no prior experience required. For the first time, retail participants can engage with the XRP economy through a streamlined, fully integrated platform.
    Explore the PFMCrypto website or download the app today.

    XRP Cloud Mining Is Here—Simple, Smart, and Rewarding
    Traditionally known for its role in cross-border payments and institutional finance, XRP now enters a new chapter with PFMCrypto’s latest innovation: easy-to-use cloud mining. Users can mine XRP directly or leverage PFMCrypto’s intelligent AI engine to automatically switch between the most profitable assets—including BTC, ETH, DOGE, USDC, and more—for optimized returns. All earnings are paid out daily in your chosen cryptocurrency, providing reliable income regardless of market fluctuations.
    Designed for both everyday users and professional investors, this platform empowers users to generate consistent crypto earnings from anywhere, at any time.

    Key Features of PFMCrypto’s XRP Cloud Mining Contracts
    –  Full XRP Integration: Deposit, purchase, mine, and withdraw XRP directly within the platform.
    –  Multi-Coin Mining Support: Mine and receive earnings in BTC, ETH, DOGE, USDC, USDT, SOL, LTC, and BCH.
    –  AI Revenue Optimization: Proprietary algorithms automatically allocate mining power to the top-performing assets to maximize returns.
    –  100% Remote Access: No mining equipment needed—fully accessible via the PFMCrypto mobile app or browser.
    –  Capital Protection: All contracts include full principal return upon maturity, reducing risk while growing crypto assets.

    Mining Contracts for Every Budget and Strategy:
    PFMCrypto offers a broad range of mining contracts that support XRP-based deposits and withdrawals. Each contract is crafted for flexibility, predictable income, and effective risk management:
    $10 Contract – 1 Day – Earn $0.66 (Free with signup bonus)
    $100 Contract – 2 Days – Earn $3.00 daily + $2 reward
    $500 Contract – 5 Days – Earn $6.15 daily
    $5,000 Contract – 30 Days – Earn $78.50 daily
    $20,000 Contract – 45 Days – Earn $380.00 daily
    Whether you’re testing the waters or building a long-term portfolio, PFMCrypto provides low-risk, high-transparency contracts that deliver stable daily income in XRP.
    Click here to explore more XRP cloud contracts.

    Why PFMCrypto’s XRP Mining Stands Out?
    –  Accessible to Everyone: No mining rigs, no setup, no complexity—just tap and earn.
    –  XRP-Native Integration: Deposit, mine, and withdraw XRP in one seamless ecosystem.
    –  Stable Returns, Smart Allocation: An AI-powered engine dynamically adjusts mining strategies to maximize rewards and ensure daily income across all supported coins.
    –  Multi-Asset Flexibility: Mine XRP directly or diversify earnings into other top digital assets—all with one contract.
    –  Instant Setup, Global Access: Mine from anywhere using your phone or browser—securely and remotely.

    Get Started Today in 3 Easy Steps:
    1.  Sign Up – Create your account and receive a $10 welcome bonus
    2.  Choose a Plan – Select a short- or long-term contract (1–60 days available)
    3.  Start Earning – Track daily profits and withdraw in the token of your choice

    Start mining XRP now at: https://pfmcrypto.net 
    Or download the PFMCrypto mobile app (available for iOS & Android).

    XRP Mining for a Digital Future
    Since 2018, PFMCrypto has helped millions of users around the world generate passive crypto income through secure, smart, cloud-based mining. With the introduction of XRP mining, the platform offers the ideal combination of institutional-grade infrastructure and retail accessibility. Now, users can choose to earn directly in XRP or diversify into major digital assets—all within a secure, fully remote environment.

    “XRP has always been fast, efficient, and scalable,” said a PFMCrypto spokesperson. “Now, it’s also mineable—securely, remotely, and profitably. We’ve eliminated the barriers so anyone can participate in XRP’s future growth.”
    Markets may shift—but daily mining income can remain steady.

    Join the XRP mining revolution today at: https://pfmcrypto.net 

    The MIL Network

  • MIL-OSI USA: Warren Secures Wins on Right to Repair, Service Member Safety, Military Housing, Transparency at Defense Department in Senate Version of FY 2026 Defense Policy Bill

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren

    July 11, 2025

    Executive Summary of Senate FY26 NDAA (Website)

    Washington, D.C. — During the Senate Armed Services Committee’s (SASC) markup of the Fiscal Year 2026 National Defense Authorization Act (FY26 NDAA) this week, U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Armed Services Personnel Subcommittee, secured key wins, including on right to repair, transparency on the removal of top military officials, troop health and safety, boosting competition among defense contractors, improved housing protections for American troops, and education. All were secured with bipartisan support in the Senate Armed Services Committee. 

    Senator Warren secured the following provisions in SASC’s version of the FY26 NDAA: 

    Right to Repair

    “It’s common sense for members of the military to be able to fix their own weapons. Senator Sheehy and I fought hard to secure this provision that will improve military readiness and save taxpayers billions of dollars. It’s about time we stand up to Pentagon contractors that are squeezing every last cent from us at the expense of our national security,” said Senator Warren.

    • A provision, which includes portions of Senator Warren’s bipartisan Warrior Right to Repair Act, to guarantee all branches of the military the right to repair their equipment and requires contractors to provide any information needed to repair the equipment.

    In January, Senator Warren secured Army Secretary Dan Driscoll’s support for taking on costly right to repair restrictions. She has also questioned defense contractors directly for their opposition to right to repair reform and introduced separate bicameral legislation to require contractors to provide repair materials in a timely and reasonable manner. 

    Promoting Transparency

    “Secretary Hegseth’s attack on independent legal advisors doesn’t make anyone safer. I’m fighting to rein in this abuse of power and ensure transparency from this administration,” said Senator Warren.

    • A provision requiring DoD to notify Congress five days before the removal of a Judge Advocate General (JAG), top legal officers for the military services, and provide a justification.

    Senator Warren, along with several of her SASC colleagues, sent a letter to Secretary Hegseth earlier this year raising concerns about how his firings of these top military lawyers would damage public trust and the apolitical foundation of the military legal system. In a March 2025 hearing, Senator Warren also highlighted, and a Trump defense nominee agreed with, the importance of the Judge Advocate General’s Corps, whom American troops rely on for legal advice and Senator Lindsey Graham has praised as “the conscience of the military.”

    Service Member Health and Safety

    “I’ve heard so many stories of service members suffering from the devastating effects of blast overpressure – cases of depression, suicide, and seizures. I led historic, bipartisan reforms in last year’s NDAA and will keep pushing DoD to do more,” said Senator Warren. “I’ve been fighting on this issue for years, and a long-term study on exposure would help us better ensure troops get the care and support they deserve.”

    • A provision providing an additional $5 million for blast overpressure analysis and mitigation beyond the Trump administration’s request; 
    • A provision requiring DoD to provide a Congressional briefing on the feasibility of conducting a study on the long-term effects of blast overpressure exposure in partnership with a non-profit medical center specializing in Traumatic Brain Injuries (TBI) and with experience working with Special Operators; 
    • A provision requiring the Government Accountability Office to study DoD’s compliance with blast overpressure reforms passed in last year’s NDAA, as well as DoD’s efforts to use cognitive assessments to track brain health, to document service member exposure, and to address the potential link between exposure and risks of suicide; and 
    • A provision requiring the Joint Safety Council to provide Congress the executive summaries of Safety Investigation Boards (SIBs) conducted for the past three years and any corrective actions that were taken. 

    For over seven years, Senator Warren has led efforts to measure blast exposure and develop protocols that protect our military. She’s introduced bipartisan legislation to track service members’ exposure to and mitigate the effects of blast overpressure. She’s also hosted a hearing and a forum to highlight service members’ and veterans’ experiences with getting care for these injuries. In last year’s NDAA, Senator Warren secured historic reforms to improve access to care after exposure to blast overpressure and mitigate exposure risks. 

    Senator Warren has also highlighted the need for transparency around military accidents, the crash that killed Staff Sergeant Jacob Galliher– a young father from Pittsfield, Massachusetts. 

    Increasing Competition 

    “Increasing competition for our military’s AI and cloud computing programs creates better tools, saves money, and protects our national security. I’ll keep fighting to protect our military from being ripped off while keeping our markets fair and our information secure,” said Senator Warren

    • Based on Senator Warren’s bipartisan Protecting AI and Cloud Competition Act, the bill requires DoD to produce a report on competition dynamics between AI and commercial cloud providers, the impacts of competition on overall innovation in AI, barriers to entry for small and new performers, and the impact of potential or perceived concentrations of market power or market share on competition; 
    • A provision requiring the DoD Inspector General to review sole source cloud computing contracts awarded under the Joint Warfighter Cloud Capability program, including justifications, approvals, and systemic challenges to competition. 
    • A provision requiring DoD to provide its strategy to monitor and mitigate the risks of future mergers and acquisitions; 
    • A provision requiring DoD to maintain multiple sources as soon as possible, and no later than fiscal year 2031, for products in critical sectors; and
    • A provision tackling consolidation in the defense contracting industry by requiring that the Government Accountability Office (GAO) conduct a review of mergers in the previous 10 years to determine if changes to defense merger review laws and policies are necessary. 

    Senator Warren has urged the Defense Department to ensure its AI contracting processes will protect government data, save taxpayer funds, and promote competition. She’s also introduced bipartisan legislation to help rein in Big Tech companies and prevent them from cutting out competitors in the AI and cloud computing markets when it comes to defense contracting. 

    Drug Supply Chains and Health Care

    “The DoD’s overreliance on overseas manufacturers gives our adversaries the power to restrict our access to the critical drugs we need to treat our men and women in uniform,” said Senator Warren. “Congress can save lives and save money by strengthening our domestic pharmaceutical supply to ensure we have access to the medicines necessary to treat service members in the field.” 

    “One of the nation’s biggest drug middlemen may be ripping off our military to boost its profits–and trying to hide this information from Congress. My provision ensures Congress has the information we need to hold contractors accountable for price-gouging on the backs of our servicemembers and taxpayers,” said Senator Warren.

    • A provision requiring DoD to report on how shortages and supply challenges for drugs and medical countermeasures have impacted military readiness and the ability for DoD to obtain the pharmaceuticals it needs for its personnel; and 
    • A provision requiring DoD to provide a confidential briefing to the Armed Services Committee every six months on the differences in reimbursement rates or practices, direct and indirect remuneration fees or other price concessions, and clawbacks between pharmacies that are affiliates of TRICARE’s contracted Pharmacy Benefit Manager (PBM) and pharmacies that are not affiliates of TRICARE’s contracted PBM. 

    Senator Warren has long sounded the alarm on the danger of overly relying on foreign pharmaceutical manufacturers, for both the military and civilians. She has led bipartisan oversight and urged the Defense Department to reform acquisition rules to give preference to American-made products. She has also filed legislation to end the country’s reliance on foreign countries for critical drugs and a bipartisan bill to study the impacts of foreign investment in the U.S. pharmaceutical industry. Senator Warren has also called for audits into pharmacy benefit managers that price gouge the military. 

    Military Housing and Childcare

    “Military families deserve safe, affordable housing. Congress must investigate the potential use of rent-setting algorithms used to price gouge military families and ban abusive landlords’ use of NDAs meant to keep military tenants quiet,” said Senator Warren

    • A provision requiring DoD to provide a report and briefing to SASC on the extent to which privatized military housing companies are using algorithmic software, including RealPage, to set apartment rents for service members paid by basic allowance for housing (BAH); 
    • A provision banning landlords from requesting that tenants sign non-disclosure agreements (NDAs) in privatized military housing; 
    • A provision to establish a pilot program for increasing child development center employee wages on at least three military installations; and
    • A provision increasing the transparency of landlord financial practices by requiring privatized military housing companies to report their liability insurance coverage and the amounts of payments to tenants to resolve dispute resolutions. 

    Senator Warren has been a leader in raising concerns about problems with privatized military housing and led the push to protect military families. She has led oversight into landlords’ use of algorithmic pricing tools like RealPage to hike rents on servicemembers. She has also introduced legislation to address private military housing landlords’ use of NDAs and unsafe housing conditions. At an April 2025 hearing, Senator Warren secured a commitment from a Trump defense nominee to hold military housing contractors accountable, if needed.  

    Education

    “Service members put their lives on the line for this country, so there’s no excuse for our government to fall short of its promises to them. Helping service members afford quality education is how our country recruits and maintains a fighting force,” said Senator Warren.

    • A provision requiring DoD to issue a report on the status of a data match to ensure service members can automatically receive Public Service Loan Forgiveness (PSLF); and  
    • A provision directing GAO to issue a report on challenges service members face in student loan repayment, including scams, repayment procedures, and servicer misconduct.

    Senator Warren has been a leading voice in fighting for strong education benefits for service members and families, fighting to restore benefits to veterans cheated by for-profit colleges and pushing the Defense Department to release data on the Postsecondary Education Complaint System (PECS), a centralized database to track complaints against schools who participate in tuition assistance programs. At an April 2025 hearing, she pressed military leaders on the impact of the Defense Department’s shortcomings on education benefits.  

    The House Armed Services Committee will convene to mark up its version of the NDAA next week. 

    MIL OSI USA News

  • MIL-OSI USA: ICYMI: In Joint CBS Interview, Warren, Sheehy Highlight Bipartisan Fight For Military’s Right to Repair Its Own Equipment

    US Senate News:

    Source: United States Senator for Massachusetts – Elizabeth Warren

    July 11, 2025

    Warren: “The choice will belong to our military to make the right economic decision to purchase and then the right economic decisions down the line on how to repair it.”

    Sheehy: “We’re at a point where we’ll have systems that are not ready for missions overseas in war zones, on ships, at forward-deployed bases, and we can’t conduct basic repairs to those systems.”

    Full Interview (YouTube)

    Washington, D.C. – U.S. Senators Elizabeth Warren (D-Mass.) and Tim Sheehy (R-Mont.), who are both members of the Senate Armed Services Committee, sat down with CBS’s Caitlin Huey-Burns to highlight their Warrior Right to Repair Act of 2025, which would require contractors to provide the Department of Defense access to technical data and materials the military needs to repair and maintain its own equipment. This legislation aims to reduce government spending, promote competition, and improve military readiness. Portions of the bill are included in the Senate’s National Defense Authorization Act of 2026.

    Watch the interview here and read the full transcript below: 

    CBS News: Why Sens. Elizabeth Warren and Tim Sheehy are teaming up to tame Pentagon spending
    July 10, 2025

    Caitlin Huey-Burns: Why can’t the military fix its own equipment? 

    Senator Elizabeth Warren: You want to go first, Tim? 

    Senator Tim Sheehy: Well, we’ve had decades of bureaucratic sclerosis that have created a really broken system that’s rife with perverse incentives. It’s also rife with requirements that aren’t always grounded in what the warfighter actually needs, and a huge focus on process over outcome. We’re at a point where we’ll have systems that are not ready for missions overseas in war zones, on ships, at forward-deployed bases, and we can’t conduct basic repairs to those systems. And I think we’re at a point now where we’ve seen multiple theaters of war, from Iraq to Afghanistan to Israel to Ukraine. We’re understanding the limits of this current defense acquisition paradigm, and it’s about time we fix it. So, it’s not one thing that happened. It’s an accumulation of 30 years of bureaucracy that’s kind of led to where we’re at now.

    Senator Warren: And I would just add to what Senator Sheehy says here by pointing out that the defense contractors have figured out they get two bites at every apple this way. So, they sell you the initial product, whether it’s an oven on a submarine or it’s a fancy piece of warfighting equipment—that’s one—and they negotiate a price for that, but they hold back in the fine print. You can’t fix it yourself. So, when the safety clip breaks, when you get sand down in the equipment, and you need to mess with it some more, the answer is, too often, because of what’s in that contract that the military says to our service member, don’t touch that thing. You’ve got to retire, in effect, the piece of equipment, hold it over there, call a contractor, have the contractor fly in from a long, long way away, charge us for flying in, take the delay and charge us whatever they want to charge us to come in and fix that thing. That has turned out to be a very profitable model for some of the defense contractors. And what our bill says is no more, no more. The Defense Department, going forward, if our bill is signed into law, it basically says, here’s the deal: you negotiate the price to buy the thing, and if the thing breaks, we may fix it ourselves. We may go to another small business, a startup, some guy who set up shop to be able to fix just that kind of thing. Or we may come back to the manufacturer. But the choice will belong to our military to make the right economic decision to purchase and then the right economic decisions down the line on how to repair it.

    Caitlin Huey-Burns: What about the argument, though, that the contractor knows the equipment better than anyone else has the ability to fix it better than anyone? Why shouldn’t they be allowed to be the ones?

    Senator Warren: Let them compete. They want to offer. They want to say, “Hey, we can fix that.” You know what? I’ll bet if that happened, that the price of fixing it would go down, if there were competition—that is, if other little guys were in there saying, “Hey, we can fix this.” Or, let’s face it, the servicemember, himself or herself, who actually also knows this stuff. Let’s have that open competition. That’s what we need here on the military side, and frankly, it’s what we need throughout the country, whether we’re talking about cars or tractors or telephones, or anything else. But we’re starting here. 

    Caitlin Huey-Burns: So, you’re saying—you’re not saying that the contractor won’t be able to fix the equipment, they just can’t have a monopoly in it?

    Senator Warren: That’s right, that they negotiated up front in fine print when nobody was looking and nobody was pricing it in. That’s where they’re making off like bandits.

    Caitlin Huey-Burns: And Senator Sheehy, you approach this issue as a former seal officer. What kind of impact—Senator Warren talked about the financial aspects of this. What kind of impact has this had on the battlefield, on training, on our soldiers out there? What does it mean for military readiness?

    Senator Sheehy: Less. Less readiness, to put it bluntly. We’ve had less readiness as a result of this. Now, our acquisition paradigm was really designed in the 1950s and 60s and hasn’t really changed since then. And in fairness to the Pentagon individuals and the contractors together, much of that’s been on us. We have not forced an upgrade to our DFARS, defense acquisition regulations, that govern the entire federal acquisition environment. We have not forced them to upgrade those, and it’s about time we do, because the systems simply were not as complicated. Software. Software is becoming one of the core pieces of functional equipment that we have.

    Caitlin Huey-Burns: You two come from very different parties. You’re a very conservative Republican. You’re a very progressive Democrat. How is it that you two found this common ground? How is it that you guys came together on this piece of legislation? 

    Senator Sheehy: Well, I was making the rounds as a freshman who’s never served in any political office before, when I got here, I said, the first thing I do is I’m trying to meet with every single member I can, on both parties, and just introduce myself and get some advice and wisdom. And in our first meeting, you know, we just—she said, “Well, what do you want to do when you’re here?” And I listed the handful of things I wanted to focus on. One of them was defense acquisition reform. And I kind of went on my riff about how frustrated I was.

    Caitlin Huey-Burns: Your eyes light up.

    Senator Warren: I did. 

    Senator Sheehy: She popped up like an aerobics video, like, “That, we’re going to do it.” And we dug into it.

    Caitlin Huey-Burns: “That’s my language.” 

    Senator Warren: Exactly, I said, “Another nerd, we can do this. We can do this.” But it is, there are these places that this isn’t political. This is about doing what is right.

    MIL OSI USA News

  • MIL-OSI: DRML Miner Launch Marks New Era as Bitcoin Surges Past $116K

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, July 11, 2025 (GLOBE NEWSWIRE) — Bitcoin has lately hit the amazing landmark of $116,000, this marks an incredibly important milestone in finance history. I don’t think this milestone is merely a price, representing further entrenchment and acceptance of Bitcoin and cryptocurrencies in a global economy. A price above $100,000 represents a total paradigm shift in finance; there is increasing optimism in the market, mainstream adoption is accelerating, and Bitcoin keeps surprising us by outperforming all expectations.

    The price increase is also connected to the underlying market trend occurring overall, that is being fueled by institutional adoption and interest, rising inflation concerns, and the search for digital decentralized assets. The global crypto market itself is maturing, and people start to see bitcoin not just as a ‘currency’, but as a long term store of value, it can replace gold as a store of value.

    A Quick Look Back: Bitcoin’s Unstoppable Ascent

    Bitcoin’s journey began in 2009 with little fanfare. Created by the pseudonymous Satoshi Nakamoto, it was introduced as a peer-to-peer electronic cash system. The early days were experimental—few believed it would ever become a serious financial asset.

    Starting from just fractions of a cent, Bitcoin was valued at $1,000 in 2013, followed by $20,000 in 2017. After some extreme volatility over the next few years, it surpassed $60,000 in 2021. Now it’s 2025 and Bitcoin is over $116,000, setting records and changing the investment landscape.

    Bitcoin’s supply is capped at 21 million coins, which is another part of its value proposition, creating scarcity of the asset and increasing interest. And as currency declines due to inflation, Bitcoin holds the possibility of becoming an alternative to a decentralized, scarce currency.

    Why Bitcoin Is Surging in 2025

    Several key factors have driven this historic price advance:

    – Institutional Investment: The top financial institutions and corporations are investing serious money and adding Bitcoin to their balance sheet as a hedge against inflation.

    – Adoption: Bitcoin is now being accepted across all areas of retail—everything from your local online retailer to multinational banks.

    – Macroeconomic Instability: The growing inflation in all major economies has led many investors to consider crypto as a store of value.

    – Technological Advances: New mining technologies have allowed or increased the security of the blockchain while pushing costs lower.

    This is not a hype train—this is a train running on actual data, demand, and real value.

    Enter DRML Miner: Redefining Crypto Mining for the Future

    Amid Bitcoin’s surge, one name is making headlines in the mining industry: DRML Miner. As the demand for Bitcoin increases, so does the competition to mine it. Traditional mining rigs often fail to offer consistent profitability due to rising energy costs and difficulty levels.

    DRML Miner is here to change that. With cutting-edge technology, unparalleled efficiency, and a user-first approach, DRML Miner is enabling individuals and businesses to mine Bitcoin profitably, regardless of scale.

    What Sets DRML Miner Apart?

    Unlike outdated mining equipment that requires high upfront investment and complex setup, DRML Miner delivers a modern, plug-and-play mining solution designed for efficiency and ease. Here’s why it stands out:

    • High Hash Rate Efficiency: Achieve maximum mining power with optimized processing speed.
    • Energy-Saving Design: Built to consume less power, reducing overhead and maximizing ROI.
    • Scalable Infrastructure: Suitable for solo miners, small businesses, and large-scale operations.
    • Real-Time Monitoring: Integrated dashboards allow users to track performance, earnings, and hardware status 24/7.
    • Global Support: Dedicated customer service ensures smooth onboarding and continued operational success.

    DRML Miner doesn’t just offer hardware—it offers a complete, supported ecosystem designed to maximize earnings and simplify the mining process.

    The Mining Industry Reimagined

    Mining has often been associated with high complexity and low returns. DRML Miner is redefining this narrative by introducing mining solutions that are accessible, reliable, and scalable. Whether you’re new to crypto or an experienced investor, DRML makes profitable mining achievable.

    By reducing the barrier to entry, DRML Miner empowers more people to participate in the Bitcoin ecosystem. This democratization of mining aligns perfectly with the decentralized spirit of cryptocurrency itself.

    The Economic Impact of DRML Miner’s Technology

    As Bitcoin reaches new heights, mining profitability becomes more attractive. However, only those with efficient systems can truly capitalize on these gains. DRML Miner helps miners stay ahead of rising competition by offering future-proof technology.

    Its proprietary cooling systems, low power usage, and intelligent management tools allow users to achieve consistent returns—even as mining difficulty increases. This long-term approach creates stability in an otherwise volatile space.

    The Road Ahead: Bitcoin and the Future of Finance

    Based on the momentum Bitcoin possesses, it is set to reach new heights. Financial analysts suggest the price will reach and exceed $150,000 in the next year and with the amount of financial uncertainty existing across the globe, this is likely. Bitcoin’s adoption is expanding throughout the continents and creating a diversified investment portfolio.

    At the same time, tools like DRML Miner will help with the infrastructure development and ultimately increase the network. With more people validating blockchain transactions, there will be a stronger foundation laid.

    The future of Bitcoin lies well beyond just price—it is about infrastructure and access but also about impact on the world.

    Conclusion: Your Opportunity to Join the Crypto Revolution

    Bitcoin has verified the myth of breaking through all barriers as it confidently holds its position at $116,000. This accomplishment is monumental since price experience is one thing, but as decentralized finance continues to gain legitimacy, this is more far-reaching! As the markets take shape, chances like these are becoming increasingly limited.

    With DRML Miner, you can be a part of the revolution from day one. The opportunity is available whether you want to diversify your income or create a mining dynasty. Reliable, scalable, and available tools are finally at our disposal.

    Start mining smarter. Grow your crypto wealth. Be part of the future.

    Explore the future of mining today at https://drmlminers.com/

    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks. There is a possibility of financial loss. You are advised to perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    The MIL Network

  • MIL-OSI: Hingham Savings Reports Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    HINGHAM, Mass., July 11, 2025 (GLOBE NEWSWIRE) — HINGHAM INSTITUTION FOR SAVINGS (NASDAQ: HIFS), Hingham, Massachusetts announced results for the quarter ended June 30, 2025.

    Earnings

    Net income for the quarter ended June 30, 2025 was $9,414,000 or $4.32 per share basic and $4.28 per share diluted, as compared to $4,102,000 or $1.88 per share basic and diluted for the same period last year. The Bank’s annualized return on average equity for the second quarter of 2025 was 8.43%, and the annualized return on average assets was 0.85%, as compared to 3.92% and 0.38% for the same period last year. Net income per share (diluted) for the second quarter of 2025 increased by 127.7% compared to the same period in 2024.

    Core net income for the quarter ended June 30, 2025, which represents net income excluding the after-tax net gain on equity securities, both realized and unrealized, was $7,453,000 or $3.42 per share basic and $3.39 per share diluted, as compared to $2,181,000 or $1.00 per share basic and per share diluted for the same period last year. The Bank’s annualized core return on average equity for the second quarter of 2025 was 6.67% and the annualized core return on average assets was 0.67%, as compared to 2.08% and 0.20% for the same period last year. Core net income per share (diluted) for the second quarter of 2025 increased by 239.0% compared to the same period in 2024.

    Net income for the six months ended June 30, 2025 was $16,538,000 or $7.58 per share basic and $7.52 per share diluted, as compared to $10,970,000 or $5.04 per share basic and $5.01 per share diluted for the same period last year. The Bank’s annualized return on average equity for the first six months of 2025 was 7.45%, and the annualized return on average assets was 0.75%, as compared to 5.27% and 0.50% for the same period in 2024. Net income per share (diluted) for the first six months of 2025 increased by 50.1% over the same period in 2024.

    Core net income for the six months ended June 30, 2025, which represents net income excluding the after-tax net gain on equity securities, both realized and unrealized, was $13,578,000 or $6.23 per share basic and $6.17 per share diluted, as compared to $4,395,000 or $2.02 per share basic and $2.01 per share diluted for the same period last year. The Bank’s annualized core return on average equity for the first six months of 2025 was 6.12%, and the annualized core return on average assets was 0.61%, as compared to 2.11% and 0.20% for the same period in 2024. Core net income per share (diluted) for the first six months of 2025 increased by 207.0% over the same period in 2024.

    See Page 10 for a reconciliation between Generally Accepted Accounting Principles (“GAAP”) net income and Non-GAAP core net income. GAAP requires that gains and losses on equity securities, net of tax, realized and unrealized, be recognized in the Consolidated Statements of Income. In calculating core net income, the Bank did not make any adjustments other than those relating to the after-tax net gain on equity securities, both realized and unrealized. In the first six months of 2024, both net income and core net income were positively impacted by lower income tax expense driven by excess tax benefit associated with the exercise of stock options and the revision of state income tax estimates.

    Balance Sheet

    Total assets increased to $4.539 billion at June 30, 2025, representing 3.7% annualized growth year-to-date and a 0.4% increase from June 30, 2024.

    Net loans increased to $3.932 billion at June 30, 2025, representing 3.0% annualized growth year-to-date and stable when compared to June 30, 2024. Origination activity was concentrated in the Boston and Washington D.C. markets and remained focused on stabilized multifamily commercial real estate.

    Retail and commercial deposits were $1.998 billion at June 30, 2025, flat year-to-date and representing 4.0% growth from June 30, 2024. Non-interest-bearing deposits, included in retail and commercial deposits, were $437.6 million at June 30, 2025, representing 20.2% annualized growth year-to-date and 27.5% growth from June 30, 2024, while interest-bearing deposits fell, reflecting some specific customer business needs.

    Growth in non-interest bearing deposits in the first six months of 2025 continued to reflect the Bank’s focus on developing and deepening deposit relationships with new and existing commercial and non-profit customers. The Bank continues to invest in its Specialized Deposit Group, actively recruiting for talented relationship managers in Boston, Washington, and San Francisco, particularly as respected competitors exit these markets or merge with larger regional banks.

    The stability of the Bank’s balance sheet, as well as full and unlimited deposit insurance through the Bank’s participation in the Massachusetts Depositors Insurance Fund, continues to appeal to customers in times of uncertainty.

    Wholesale funds, which includes Federal Home Loan Bank (“FHLB”) borrowings, brokered deposits, and Internet listing service time deposits, were $2.052 billion at June 30, 2025 representing 6.0% annualized growth year-to-date and a 4.4% decline from June 30, 2024, as the Bank used these funds to replace certain commercial deposits in the second quarter of 2025. In the first six months of 2025, the Bank continued to manage its wholesale funding mix to lower its cost of funds while taking advantage of the inverted yield curve at certain durations by adding lower rate longer term liabilities. Wholesale deposits, which include brokered and Internet listing service time deposits, were $480.1 million at June 30, 2025, representing a 6.0% annualized decline year-to-date and a 3.5% decline from June 30, 2024. Borrowings from the FHLB totaled $1.572 billion at June 30, 2025, representing 10.0% annualized growth from December 31, 2024, and a 4.7% decline from June 30, 2024. As of June 30, 2025, the Bank maintained an additional $802.8 million in immediately available borrowing capacity at the FHLB of Boston and the Federal Reserve Bank, in addition to $360.6 million in cash and cash equivalents.

    Book value per share was $204.36 as of June 30, 2025, representing 6.4% annualized growth year-to-date and 6.8% growth from June 30, 2024. In addition to the increase in book value per share, the Bank declared $2.52 in dividends per share since June 30, 2024.

    On June 25, 2025, the Bank declared a regular cash dividend of $0.63 per share. This dividend will be paid on August 13, 2025 to stockholders of record as of August 4, 2025. This will be the Bank’s 126th consecutive quarterly dividend.

    The Bank has also generally declared special cash dividends in each of the last thirty years, typically in the fourth quarter, but did not declare a special dividend in 2024 and 2023. The Bank sets the level of the special dividend based on the Bank’s capital requirements and the prospective return on other capital allocation options, particularly the incremental return on capital from new loan originations and share repurchases. This may result in special dividends, if any, significantly above or below the regular quarterly dividend. Future regular and special dividends will be considered by the Board of Directors on a quarterly basis.

    Operational Performance Metrics

    The net interest margin for the quarter ended June 30, 2025 increased 16 basis points to 1.66%, as compared to 1.50% in the quarter ended March 31, 2025. This was the fifth consecutive quarter of continued expansion, despite the Federal Reserve’s federal funds rate target range remaining unchanged in 2025. This improvement was the result of a decline in the cost of interest-bearing liabilities, combined with an increase in the yield on interest-earning assets. The cost of interest-bearing liabilities fell 10 basis points in the second quarter of 2025, as the Bank’s retail and commercial deposits continued to reprice at lower rates, and the Bank continued to take advantage of the inverted yield curve by adding lower rate FHLB advances and brokered deposits. The yield on interest-earning assets increased by 5 basis points in the second quarter of 2025, driven primarily by a higher yield on loans, as the Bank continued to originate loans at higher rates and reprice existing loans. The net interest margin in the final month of the second quarter of 2025 was 1.72% annualized.

    Key credit and operational metrics remained acceptable in the second quarter of 2025. At June 30, 2025, non-performing assets totaled 0.70% of total assets, compared to 0.03% at December 31, 2024 and 0.04% at June 30, 2024. Non-performing loans as a percentage of the total loan portfolio totaled 0.81% at June 30, 2025, compared to 0.04% at both December 31, 2024 and June 30, 2024. The Bank did not record any charge-offs in the first six months of 2025 or 2024. In the second quarter of 2025, the Bank placed a commercial real estate loan with an outstanding balance of $30.6 million on nonaccrual, after the borrower failed to make the full payment due at maturity. This loan is secured by an entitled development site for a significant multifamily development in Washington, D.C. and has an associated conditional guarantee from a large national homebuilder and an affordable housing developer. The Bank is working actively to identify a resolution that protects the Bank’s interests. The remaining non-performing assets and loans cited above were and are residential, owner-occupant loans.

    As of June 30, 2025, the Bank only had the single above-mentioned non-performing commercial real estate loan, and no other commercial real estate delinquent loans. The Bank did not have any delinquent or non-performing commercial real estate loans as of December 31, 2024 or June 30, 2024. The Bank did not own any foreclosed property at June 30, 2025, December 31, 2024 or June 30, 2024.

    The efficiency ratio, as defined on page 5 below, decreased to 41.17% for the second quarter of 2025, as compared to 45.82% in the prior quarter and 68.57% for the same period last year. Operating expenses as a percentage of average assets were 0.68% for the second quarter of 2025, as compared to 0.68% for the prior quarter and 0.67% for the same period last year. This reflects, in part, continuing investment in deposit-gathering infrastructure and relatively stable average assets from period to period. As the efficiency ratio can be significantly influenced by the level of net interest income, the Bank utilizes these paired figures together to assess its operational efficiency over time. During periods of significant net interest income volatility, the efficiency ratio in isolation may over or understate the underlying operational efficiency of the Bank. The Bank remains focused on reducing waste through an ongoing process of continuous improvement and standard work that supports operational leverage.

    Chairman Robert H. Gaughen Jr. stated, “Returns on equity and assets in the second quarter of 2025 remained somewhat lower than our long-term performance expectations, although they have recovered significantly. Returns in our core business continue to improve steadily, driven by a continued expansion in the net interest margin through asset repricing, falling funding costs, and growth in non-interest bearing deposits. Our operational leverage remains critical to generating satisfactory returns and we remain focused on rigorous cost control and continuous operational improvement. Although our investment returns are likely to remain volatile in any individual period, they continue to contribute meaningfully to growth in book value per share over time.

    While this period has been extraordinarily challenging, the Bank’s business model has been built to compound shareholder capital over the long-term. We remain focused on careful capital allocation, defensive underwriting and rigorous cost control – the building blocks for compounding shareholder capital through all stages of the economic cycle. These remain constant, regardless of the macroeconomic environment in which we operate.”

    The Bank’s quarterly financial results are summarized in this earnings release, but shareholders are encouraged to read the Bank’s quarterly report on Form 10-Q, which is generally available several weeks after the earnings release. The Bank expects to file Form 10-Q for the quarter ended June 30, 2025 with the Federal Deposit Insurance Corporation (FDIC) on or about August 6, 2025.

    Incorporated in 1834, Hingham Institution for Savings is one of America’s oldest banks. The Bank maintains offices in Boston, Nantucket, Washington, D.C., and San Francisco.

    The Bank’s shares of common stock are listed and traded on The NASDAQ Stock Market under the symbol HIFS.

     
    HINGHAM INSTITUTION FOR SAVINGS
    Selected Financial Ratios
           
      Three Months Ended
    June 30,
      Six Months Ended
    June 30,
      2024   2025   2024   2025
    (Unaudited)                      
                           
    Key Performance Ratios                      
    Return on average assets (1) 0.38 %   0.85 %   0.50 %   0.75 %
    Return on average equity (1) 3.92     8.43     5.27     7.45  
    Core return on average assets (1) (5) 0.20     0.67     0.20     0.61  
    Core return on average equity (1) (5) 2.08     6.67     2.11     6.12  
    Interest rate spread (1) (2) 0.25     0.95     0.19     0.87  
    Net interest margin (1) (3) 0.96     1.66     0.91     1.58  
    Operating expenses to average assets (1) 0.67     0.68     0.67     0.68  
    Efficiency ratio (4) 68.57     41.17     72.63     43.36  
    Average equity to average assets 9.59     10.05     9.56     10.02  
    Average interest-earning assets to average interest-bearing liabilities 119.93     122.94     119.92     122.60  
      June 30,
    2024
      December 31,
    2024
      June 30,
    2025
    (Unaudited)                      
               
    Asset Quality Ratios          
    Allowance for credit losses/total loans   0.68 %   0.69 %     0.70 %
    Allowance for credit losses/non-performing loans   1,577.28     1,775.00       86.97  
                         
    Non-performing loans/total loans   0.04     0.04       0.81  
    Non-performing loans/total assets   0.04     0.03       0.70  
    Non-performing assets/total assets   0.04     0.03       0.70  
                         
    Share Related                    
    Book value per share $ 191.34     $ 198.03     $ 204.36  
    Market value per share $ 178.88     $ 254.14     $ 248.35  
    Shares outstanding at end of period   2,180,250       2,180,250       2,181,250  
    (1)   Annualized.
         
    (2)   Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.
         
    (3)   Net interest margin represents net interest income divided by average interest-earning assets.
         
    (4)   The efficiency ratio is a non-GAAP measure that represents total operating expenses, divided by the sum of net interest income and total other income, excluding the net gain on equity securities, both realized and unrealized.
         
    (5)   Non-GAAP measurements that represent return on average assets and return on average equity, excluding the after-tax net gain on equity securities, both realized and unrealized.
         
     
    HINGHAM INSTITUTION FOR SAVINGS
    Consolidated Balance Sheets
               
    (In thousands, except share amounts) June 30,
    2024
      December 31,
    2024
      June 30,
    2025
    (Unaudited)                      
    ASSETS  
                           
    Cash and due from banks $ 5,990     $ 4,183     $ 8,470  
    Federal Reserve and other short-term investments   363,151       347,647       352,144  
    Cash and cash equivalents   369,141       351,830       360,614  
                           
    CRA investment   8,722       8,769       8,928  
    Other marketable equity securities   83,860       104,575       113,761  
    Securities, at fair value   92,582       113,344       122,689  
    Securities held to maturity, at amortized cost   6,493       6,493       6,494  
    Federal Home Loan Bank stock, at cost   66,189       61,022       64,659  
    Loans, net of allowance for credit losses of $26,940 at June 30, 2024, $26,980 at December 31, 2024 and $27,730 at June 30, 2025   3,933,419       3,873,662       3,931,663  
    Bank-owned life insurance   13,805       13,980       14,143  
    Premises and equipment, net   16,676       16,397       16,180  
    Accrued interest receivable   9,082       8,774       8,962  
    Other assets   13,344       12,269       13,753  
    Total assets $ 4,520,731     $ 4,457,771     $ 4,539,157  
    LIABILITIES AND STOCKHOLDERS’ EQUITY                      
                           
    Interest-bearing deposits $ 2,075,002     $ 2,094,626     $ 2,040,271  
    Non-interest-bearing deposits   343,262       397,469       437,608  
    Total deposits   2,418,264       2,492,095       2,477,879  
    Federal Home Loan Bank advances   1,648,675       1,497,000       1,572,000  
    Mortgagors’ escrow accounts   14,577       16,699       18,478  
    Accrued interest payable   12,242       8,244       12,959  
    Deferred income tax liability, net   989       3,787       4,629  
    Other liabilities   8,806       8,191       7,460  
    Total liabilities   4,103,553       4,026,016       4,093,405  
                           
    Stockholders’ equity:                      
    Preferred stock, $1.00 par value, 2,500,000 shares authorized, none issued                
    Common stock, $1.00 par value, 5,000,000 shares authorized; 2,180,250 shares issued and outstanding at June 30, 2024 and December 31, 2024, and 2,181,250 shares issued and outstanding at June 30, 2025   2,180       2,180       2,181  
    Additional paid-in capital   15,467       15,571       15,777  
    Undivided profits   399,531       414,004       427,794  
    Total stockholders’ equity   417,178       431,755       445,752  
    Total liabilities and stockholders’ equity $ 4,520,731     $ 4,457,771     $ 4,539,157  
                           
     
    HINGHAM INSTITUTION FOR SAVINGS
    Consolidated Statements of Income
               
          Three Months Ended   Six Months Ended
          June 30,   June 30,
    (In thousands, except per share amounts) 2024
      2025
      2024   2025
    (Unaudited)                      
    Interest and dividend income:                            
      Loans $ 44,665     $ 46,752     $ 87,785     $ 91,973  
      Debt securities   87       97       132       192  
      Equity securities   1,551       1,365       3,001       2,816  
      Federal Reserve and other short-term investments   2,745       3,072       5,572       6,127  
        Total interest and dividend income   49,048       51,286       96,490       101,108  
    Interest expense:                              
      Deposits   22,141       17,841       43,287       36,462  
      Federal Home Loan Bank   16,539       15,406       33,751       30,571  
        Total interest expense   38,680       33,247       77,038       67,033  
        Net interest income   10,368       18,039       19,452       34,075  
    Provision for credit losses   180       450       288       750  
      Net interest income, after provision for credit losses   10,188       17,589       19,164       33,325  
    Other income:                              
      Customer service fees on deposits   138       139       275       274  
      Increase in cash surrender value of bank-owned life insurance   82       79       163       163  
      Gain on equity securities, net   2,464       2,516       8,434       3,797  
      Miscellaneous   49       73       104       122  
        Total other income   2,733       2,807       8,976       4,356  
    Operating expenses:                              
      Salaries and employee benefits   4,234       4,392       8,531       8,859  
      Occupancy and equipment   394       417       825       856  
      Data processing   738       758       1,493       1,482  
      Deposit insurance   819       784       1,629       1,532  
      Foreclosure and related   14       14       46       24  
      Marketing   187       222       276       358  
      Other general and administrative   908       959       1,721       1,905  
        Total operating expenses   7,294       7,546       14,521       15,016  
    Income before income taxes   5,627       12,850       13,619       22,665  
    Income tax provision   1,525       3,436       2,649       6,127  
        Net income $ 4,102     $ 9,414     $ 10,970     $ 16,538  
                                       
    Cash dividends declared per common share $ 0.63     $ 0.63     $ 1.26     $ 1.26  
                                   
    Weighted average shares outstanding:                              
      Basic   2,180       2,181       2,175       2,181  
      Diluted   2,186       2,200       2,189       2,200  
                                       
    Earnings per share:                              
      Basic $ 1.88     $ 4.32     $ 5.04     $ 7.58  
      Diluted $ 1.88     $ 4.28     $ 5.01     $ 7.52  
                                     
     
    HINGHAM INSTITUTION FOR SAVINGS
    Net Interest Income Analysis
       
      Three Months Ended
      June 30, 2024   March 31, 2025   June 30, 2025
      Average
    Balance
    (9)
      Interest   Yield/
    Rate (10)
      Average
    Balance
    (9)
      Interest   Yield/
    Rate (10)
      Average
    Balance
    (9)
      Interest   Yield/
    Rate (10)
       
    (Dollars in thousands)  
    (Unaudited)                                                    
    Assets                                                    
    Loans (1) (2) $ 3,980,111   $ 44,665   4.49 %   $ 3,929,828   $ 45,221   4.67 %   $ 3,952,477   $ 46,752   4.74 %
    Securities (3) (4)   119,477     1,638   5.48       130,674     1,546   4.80       135,541     1,462   4.33  
    Short-term investments (5)   202,379     2,745   5.43       278,722     3,055   4.45       277,146     3,072   4.45  
    Total interest-earning assets   4,301,967     49,048   4.56       4,339,224     49,822   4.66       4,365,164     51,286   4.71  
    Other assets   66,218                 79,209                 78,230            
    Total assets $ 4,368,185               $ 4,418,433               $ 4,443,394            
                                                         
    Liabilities and stockholders’ equity:                                                    
    Interest-bearing deposits (6) $ 2,149,753   $ 22,141   4.12 %   $ 2,141,294   $ 18,621   3.53 %   $ 2,102,662   $ 17,841   3.40 %
    Borrowed funds   1,437,335     16,539   4.60       1,407,844     15,165   4.37       1,448,078     15,406   4.27  
    Total interest-bearing liabilities   3,587,088     38,680   4.31       3,549,138     33,786   3.86       3,550,740     33,247   3.76  
    Non-interest-bearing deposits   346,663                 413,877                 429,537            
    Other liabilities   15,503                 14,464                 16,378            
    Total liabilities   3,949,254                 3,977,479                 3,996,655            
    Stockholders’ equity   418,931                 440,954                 446,739            
    Total liabilities and stockholders’ equity $ 4,368,185               $ 4,418,433               $ 4,443,394            
    Net interest income       $ 10,368               $ 16,036               $ 18,039      
                                                         
    Weighted average interest rate spread             0.25 %               0.80 %               0.95 %
                                                         
    Net interest margin (7)             0.96 %               1.50 %               1.66 %
    Average interest-earning assets to average interest-bearing liabilities (8) 119.93 %   122.26 %   122.94 %  
    (1)   Before allowance for credit losses.
    (2)   Includes non-accrual loans.
    (3)   Excludes the impact of the average net unrealized gain or loss on securities.
    (4)   Includes Federal Home Loan Bank stock.
    (5)   Includes cash held at the Federal Reserve Bank.
    (6)   Includes mortgagors’ escrow accounts.
    (7)   Net interest income divided by average total interest-earning assets.
    (8)   Total interest-earning assets divided by total interest-bearing liabilities.
    (9)   Average balances are calculated on a daily basis.
    (10)   Annualized based on the actual number of days in the period.
         
     
    HINGHAM INSTITUTION FOR SAVINGS
    Net Interest Income Analysis
         
      Six Months Ended June 30,  
      2024     2025  
      Average
    Balance (9)
      Interest   Yield/
    Rate (10)
        Average
    Balance (9)
      Interest   Yield/
    Rate (10)
     
    (Dollars in thousands)                                  
    (Unaudited)                                  
                                       
    Loans (1) (2) $ 3,968,123   $ 87,785   4.42 %   $ 3,941,215   $ 91,973   4.71 %
    Securities (3) (4)   117,840     3,133   5.32       133,121     3,008   4.56  
    Short-term investments (5)   205,312     5,572   5.43       277,930     6,127   4.45  
    Total interest-earning assets   4,291,275     96,490   4.50       4,352,266     101,108   4.68  
    Other assets   65,126                 78,717            
    Total assets $ 4,356,401               $ 4,430,983            
                                       
    Interest-bearing deposits (6) $ 2,124,302   $ 43,287   4.08 %   $ 2,121,871   $ 36,462   3.47 %
    Borrowed funds   1,454,181     33,751   4.64       1,428,072     30,571   4.32  
    Total interest-bearing liabilities   3,578,483     77,038   4.31       3,549,943     67,033   3.81  
    Non-interest-bearing deposits   346,399                 421,750            
    Other liabilities   14,882                 15,428            
    Total liabilities   3,939,764                 3,987,121            
    Stockholders’ equity   416,637                 443,862            
    Total liabilities and stockholders’ equity $ 4,356,401               $ 4,430,983            
    Net interest income       $ 19,452               $ 34,075      
                                       
    Weighted average interest rate spread             0.19 %               0.87 %
                                       
    Net interest margin (7)             0.91 %               1.58 %
                                       
    Average interest-earning assets
    to average interest-bearing
    liabilities (8)
      119.92 %               122.60 %          
    (1)   Before allowance for credit losses.
    (2)   Includes non-accrual loans.
    (3)   Excludes the impact of the average net unrealized gain or loss on securities.
    (4)   Includes Federal Home Loan Bank stock.
    (5)   Includes cash held at the Federal Reserve Bank.
    (6)   Includes mortgagors’ escrow accounts.
    (7)   Net interest income divided by average total interest-earning assets.
    (8)   Total interest-earning assets divided by total interest-bearing liabilities.
    (9)   Average balances are calculated on a daily basis.
    (10)   Annualized based on the actual number of days in the period.
         
     
    HINGHAM INSTITUTION FOR SAVINGS
     Non-GAAP Reconciliation
     

    The Bank believes the presentation of the following non-GAAP financial measures provide useful supplemental information that is essential to an investor’s proper understanding of the results of operations and financial condition of the Bank. Management uses these measures in its analysis of the Bank’s performance. These non-GAAP measures should not be viewed as substitutes for the financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other banks.

    The table below presents the reconciliation between net income and core net income, a non-GAAP measurement that represents net income excluding the after-tax net gain on equity securities, both realized and unrealized.

      Three Months Ended   Six Months Ended
      June 30,   June 30,
    (In thousands, unaudited) 2024   2025   2024   2025
                       
    Non-GAAP reconciliation:                      
    Net income $ 4,102     $ 9,414     $ 10,970     $ 16,538  
    Gain on equity securities, net   (2,464 )     (2,516 )     (8,434 )     (3,797 )
    Income tax expense (1)   543       555       1,859       837  
    Core net income $ 2,181     $ 7,453     $ 4,395     $ 13,578  
    (1)   The equity securities are held in a tax-advantaged subsidiary corporation. The income tax effect of the gain on equity securities, net, was calculated using the effective tax rate applicable to the subsidiary.
         

    The table below presents the calculation of the efficiency ratio, a non-U.S. GAAP performance measure that management uses to assess operational efficiency which represents total operating expenses, divided by the sum of net interest income and total other income, excluding net gain on equity securities, both realized and unrealized.

      Three Months Ended   Six Months Ended  
      June 30,
      March 31,
      June 30,
      June 30,  
    (In thousands, unaudited) 2024   2025   2025   2024   2025  
                                         
    Non-U.S. GAAP efficiency ratio calculation:                                    
    Operating expenses $ 7,294       $ 7,470       $ 7,546     $ 14,521       $ 15,016    
                                         
    Net interest income $ 10,368       $ 16,036       $ 18,039     $ 19,452       $ 34,075    
    Other income   2,733         1,549         2,807       8,976         4,356    
    Gain on equity securities, net   (2,464 )       (1,281 )       (2,516 )     (8,434 )       (3,797 )  
    Total revenue $ 10,637       $ 16,304       $ 18,330     $ 19,994       $ 34,634    
                                         
    Efficiency ratio   68.57   %     45.82   %     41.17   %   72.63   %     43.36   %
                                                   

    CONTACT: Patrick R. Gaughen, President and Chief Operating Officer (781) 783-1761

    The MIL Network

  • MIL-OSI: Hingham Savings Reports Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    HINGHAM, Mass., July 11, 2025 (GLOBE NEWSWIRE) — HINGHAM INSTITUTION FOR SAVINGS (NASDAQ: HIFS), Hingham, Massachusetts announced results for the quarter ended June 30, 2025.

    Earnings

    Net income for the quarter ended June 30, 2025 was $9,414,000 or $4.32 per share basic and $4.28 per share diluted, as compared to $4,102,000 or $1.88 per share basic and diluted for the same period last year. The Bank’s annualized return on average equity for the second quarter of 2025 was 8.43%, and the annualized return on average assets was 0.85%, as compared to 3.92% and 0.38% for the same period last year. Net income per share (diluted) for the second quarter of 2025 increased by 127.7% compared to the same period in 2024.

    Core net income for the quarter ended June 30, 2025, which represents net income excluding the after-tax net gain on equity securities, both realized and unrealized, was $7,453,000 or $3.42 per share basic and $3.39 per share diluted, as compared to $2,181,000 or $1.00 per share basic and per share diluted for the same period last year. The Bank’s annualized core return on average equity for the second quarter of 2025 was 6.67% and the annualized core return on average assets was 0.67%, as compared to 2.08% and 0.20% for the same period last year. Core net income per share (diluted) for the second quarter of 2025 increased by 239.0% compared to the same period in 2024.

    Net income for the six months ended June 30, 2025 was $16,538,000 or $7.58 per share basic and $7.52 per share diluted, as compared to $10,970,000 or $5.04 per share basic and $5.01 per share diluted for the same period last year. The Bank’s annualized return on average equity for the first six months of 2025 was 7.45%, and the annualized return on average assets was 0.75%, as compared to 5.27% and 0.50% for the same period in 2024. Net income per share (diluted) for the first six months of 2025 increased by 50.1% over the same period in 2024.

    Core net income for the six months ended June 30, 2025, which represents net income excluding the after-tax net gain on equity securities, both realized and unrealized, was $13,578,000 or $6.23 per share basic and $6.17 per share diluted, as compared to $4,395,000 or $2.02 per share basic and $2.01 per share diluted for the same period last year. The Bank’s annualized core return on average equity for the first six months of 2025 was 6.12%, and the annualized core return on average assets was 0.61%, as compared to 2.11% and 0.20% for the same period in 2024. Core net income per share (diluted) for the first six months of 2025 increased by 207.0% over the same period in 2024.

    See Page 10 for a reconciliation between Generally Accepted Accounting Principles (“GAAP”) net income and Non-GAAP core net income. GAAP requires that gains and losses on equity securities, net of tax, realized and unrealized, be recognized in the Consolidated Statements of Income. In calculating core net income, the Bank did not make any adjustments other than those relating to the after-tax net gain on equity securities, both realized and unrealized. In the first six months of 2024, both net income and core net income were positively impacted by lower income tax expense driven by excess tax benefit associated with the exercise of stock options and the revision of state income tax estimates.

    Balance Sheet

    Total assets increased to $4.539 billion at June 30, 2025, representing 3.7% annualized growth year-to-date and a 0.4% increase from June 30, 2024.

    Net loans increased to $3.932 billion at June 30, 2025, representing 3.0% annualized growth year-to-date and stable when compared to June 30, 2024. Origination activity was concentrated in the Boston and Washington D.C. markets and remained focused on stabilized multifamily commercial real estate.

    Retail and commercial deposits were $1.998 billion at June 30, 2025, flat year-to-date and representing 4.0% growth from June 30, 2024. Non-interest-bearing deposits, included in retail and commercial deposits, were $437.6 million at June 30, 2025, representing 20.2% annualized growth year-to-date and 27.5% growth from June 30, 2024, while interest-bearing deposits fell, reflecting some specific customer business needs.

    Growth in non-interest bearing deposits in the first six months of 2025 continued to reflect the Bank’s focus on developing and deepening deposit relationships with new and existing commercial and non-profit customers. The Bank continues to invest in its Specialized Deposit Group, actively recruiting for talented relationship managers in Boston, Washington, and San Francisco, particularly as respected competitors exit these markets or merge with larger regional banks.

    The stability of the Bank’s balance sheet, as well as full and unlimited deposit insurance through the Bank’s participation in the Massachusetts Depositors Insurance Fund, continues to appeal to customers in times of uncertainty.

    Wholesale funds, which includes Federal Home Loan Bank (“FHLB”) borrowings, brokered deposits, and Internet listing service time deposits, were $2.052 billion at June 30, 2025 representing 6.0% annualized growth year-to-date and a 4.4% decline from June 30, 2024, as the Bank used these funds to replace certain commercial deposits in the second quarter of 2025. In the first six months of 2025, the Bank continued to manage its wholesale funding mix to lower its cost of funds while taking advantage of the inverted yield curve at certain durations by adding lower rate longer term liabilities. Wholesale deposits, which include brokered and Internet listing service time deposits, were $480.1 million at June 30, 2025, representing a 6.0% annualized decline year-to-date and a 3.5% decline from June 30, 2024. Borrowings from the FHLB totaled $1.572 billion at June 30, 2025, representing 10.0% annualized growth from December 31, 2024, and a 4.7% decline from June 30, 2024. As of June 30, 2025, the Bank maintained an additional $802.8 million in immediately available borrowing capacity at the FHLB of Boston and the Federal Reserve Bank, in addition to $360.6 million in cash and cash equivalents.

    Book value per share was $204.36 as of June 30, 2025, representing 6.4% annualized growth year-to-date and 6.8% growth from June 30, 2024. In addition to the increase in book value per share, the Bank declared $2.52 in dividends per share since June 30, 2024.

    On June 25, 2025, the Bank declared a regular cash dividend of $0.63 per share. This dividend will be paid on August 13, 2025 to stockholders of record as of August 4, 2025. This will be the Bank’s 126th consecutive quarterly dividend.

    The Bank has also generally declared special cash dividends in each of the last thirty years, typically in the fourth quarter, but did not declare a special dividend in 2024 and 2023. The Bank sets the level of the special dividend based on the Bank’s capital requirements and the prospective return on other capital allocation options, particularly the incremental return on capital from new loan originations and share repurchases. This may result in special dividends, if any, significantly above or below the regular quarterly dividend. Future regular and special dividends will be considered by the Board of Directors on a quarterly basis.

    Operational Performance Metrics

    The net interest margin for the quarter ended June 30, 2025 increased 16 basis points to 1.66%, as compared to 1.50% in the quarter ended March 31, 2025. This was the fifth consecutive quarter of continued expansion, despite the Federal Reserve’s federal funds rate target range remaining unchanged in 2025. This improvement was the result of a decline in the cost of interest-bearing liabilities, combined with an increase in the yield on interest-earning assets. The cost of interest-bearing liabilities fell 10 basis points in the second quarter of 2025, as the Bank’s retail and commercial deposits continued to reprice at lower rates, and the Bank continued to take advantage of the inverted yield curve by adding lower rate FHLB advances and brokered deposits. The yield on interest-earning assets increased by 5 basis points in the second quarter of 2025, driven primarily by a higher yield on loans, as the Bank continued to originate loans at higher rates and reprice existing loans. The net interest margin in the final month of the second quarter of 2025 was 1.72% annualized.

    Key credit and operational metrics remained acceptable in the second quarter of 2025. At June 30, 2025, non-performing assets totaled 0.70% of total assets, compared to 0.03% at December 31, 2024 and 0.04% at June 30, 2024. Non-performing loans as a percentage of the total loan portfolio totaled 0.81% at June 30, 2025, compared to 0.04% at both December 31, 2024 and June 30, 2024. The Bank did not record any charge-offs in the first six months of 2025 or 2024. In the second quarter of 2025, the Bank placed a commercial real estate loan with an outstanding balance of $30.6 million on nonaccrual, after the borrower failed to make the full payment due at maturity. This loan is secured by an entitled development site for a significant multifamily development in Washington, D.C. and has an associated conditional guarantee from a large national homebuilder and an affordable housing developer. The Bank is working actively to identify a resolution that protects the Bank’s interests. The remaining non-performing assets and loans cited above were and are residential, owner-occupant loans.

    As of June 30, 2025, the Bank only had the single above-mentioned non-performing commercial real estate loan, and no other commercial real estate delinquent loans. The Bank did not have any delinquent or non-performing commercial real estate loans as of December 31, 2024 or June 30, 2024. The Bank did not own any foreclosed property at June 30, 2025, December 31, 2024 or June 30, 2024.

    The efficiency ratio, as defined on page 5 below, decreased to 41.17% for the second quarter of 2025, as compared to 45.82% in the prior quarter and 68.57% for the same period last year. Operating expenses as a percentage of average assets were 0.68% for the second quarter of 2025, as compared to 0.68% for the prior quarter and 0.67% for the same period last year. This reflects, in part, continuing investment in deposit-gathering infrastructure and relatively stable average assets from period to period. As the efficiency ratio can be significantly influenced by the level of net interest income, the Bank utilizes these paired figures together to assess its operational efficiency over time. During periods of significant net interest income volatility, the efficiency ratio in isolation may over or understate the underlying operational efficiency of the Bank. The Bank remains focused on reducing waste through an ongoing process of continuous improvement and standard work that supports operational leverage.

    Chairman Robert H. Gaughen Jr. stated, “Returns on equity and assets in the second quarter of 2025 remained somewhat lower than our long-term performance expectations, although they have recovered significantly. Returns in our core business continue to improve steadily, driven by a continued expansion in the net interest margin through asset repricing, falling funding costs, and growth in non-interest bearing deposits. Our operational leverage remains critical to generating satisfactory returns and we remain focused on rigorous cost control and continuous operational improvement. Although our investment returns are likely to remain volatile in any individual period, they continue to contribute meaningfully to growth in book value per share over time.

    While this period has been extraordinarily challenging, the Bank’s business model has been built to compound shareholder capital over the long-term. We remain focused on careful capital allocation, defensive underwriting and rigorous cost control – the building blocks for compounding shareholder capital through all stages of the economic cycle. These remain constant, regardless of the macroeconomic environment in which we operate.”

    The Bank’s quarterly financial results are summarized in this earnings release, but shareholders are encouraged to read the Bank’s quarterly report on Form 10-Q, which is generally available several weeks after the earnings release. The Bank expects to file Form 10-Q for the quarter ended June 30, 2025 with the Federal Deposit Insurance Corporation (FDIC) on or about August 6, 2025.

    Incorporated in 1834, Hingham Institution for Savings is one of America’s oldest banks. The Bank maintains offices in Boston, Nantucket, Washington, D.C., and San Francisco.

    The Bank’s shares of common stock are listed and traded on The NASDAQ Stock Market under the symbol HIFS.

     
    HINGHAM INSTITUTION FOR SAVINGS
    Selected Financial Ratios
           
      Three Months Ended
    June 30,
      Six Months Ended
    June 30,
      2024   2025   2024   2025
    (Unaudited)                      
                           
    Key Performance Ratios                      
    Return on average assets (1) 0.38 %   0.85 %   0.50 %   0.75 %
    Return on average equity (1) 3.92     8.43     5.27     7.45  
    Core return on average assets (1) (5) 0.20     0.67     0.20     0.61  
    Core return on average equity (1) (5) 2.08     6.67     2.11     6.12  
    Interest rate spread (1) (2) 0.25     0.95     0.19     0.87  
    Net interest margin (1) (3) 0.96     1.66     0.91     1.58  
    Operating expenses to average assets (1) 0.67     0.68     0.67     0.68  
    Efficiency ratio (4) 68.57     41.17     72.63     43.36  
    Average equity to average assets 9.59     10.05     9.56     10.02  
    Average interest-earning assets to average interest-bearing liabilities 119.93     122.94     119.92     122.60  
      June 30,
    2024
      December 31,
    2024
      June 30,
    2025
    (Unaudited)                      
               
    Asset Quality Ratios          
    Allowance for credit losses/total loans   0.68 %   0.69 %     0.70 %
    Allowance for credit losses/non-performing loans   1,577.28     1,775.00       86.97  
                         
    Non-performing loans/total loans   0.04     0.04       0.81  
    Non-performing loans/total assets   0.04     0.03       0.70  
    Non-performing assets/total assets   0.04     0.03       0.70  
                         
    Share Related                    
    Book value per share $ 191.34     $ 198.03     $ 204.36  
    Market value per share $ 178.88     $ 254.14     $ 248.35  
    Shares outstanding at end of period   2,180,250       2,180,250       2,181,250  
    (1)   Annualized.
         
    (2)   Interest rate spread represents the difference between the yield on interest-earning assets and the cost of interest-bearing liabilities.
         
    (3)   Net interest margin represents net interest income divided by average interest-earning assets.
         
    (4)   The efficiency ratio is a non-GAAP measure that represents total operating expenses, divided by the sum of net interest income and total other income, excluding the net gain on equity securities, both realized and unrealized.
         
    (5)   Non-GAAP measurements that represent return on average assets and return on average equity, excluding the after-tax net gain on equity securities, both realized and unrealized.
         
     
    HINGHAM INSTITUTION FOR SAVINGS
    Consolidated Balance Sheets
               
    (In thousands, except share amounts) June 30,
    2024
      December 31,
    2024
      June 30,
    2025
    (Unaudited)                      
    ASSETS  
                           
    Cash and due from banks $ 5,990     $ 4,183     $ 8,470  
    Federal Reserve and other short-term investments   363,151       347,647       352,144  
    Cash and cash equivalents   369,141       351,830       360,614  
                           
    CRA investment   8,722       8,769       8,928  
    Other marketable equity securities   83,860       104,575       113,761  
    Securities, at fair value   92,582       113,344       122,689  
    Securities held to maturity, at amortized cost   6,493       6,493       6,494  
    Federal Home Loan Bank stock, at cost   66,189       61,022       64,659  
    Loans, net of allowance for credit losses of $26,940 at June 30, 2024, $26,980 at December 31, 2024 and $27,730 at June 30, 2025   3,933,419       3,873,662       3,931,663  
    Bank-owned life insurance   13,805       13,980       14,143  
    Premises and equipment, net   16,676       16,397       16,180  
    Accrued interest receivable   9,082       8,774       8,962  
    Other assets   13,344       12,269       13,753  
    Total assets $ 4,520,731     $ 4,457,771     $ 4,539,157  
    LIABILITIES AND STOCKHOLDERS’ EQUITY                      
                           
    Interest-bearing deposits $ 2,075,002     $ 2,094,626     $ 2,040,271  
    Non-interest-bearing deposits   343,262       397,469       437,608  
    Total deposits   2,418,264       2,492,095       2,477,879  
    Federal Home Loan Bank advances   1,648,675       1,497,000       1,572,000  
    Mortgagors’ escrow accounts   14,577       16,699       18,478  
    Accrued interest payable   12,242       8,244       12,959  
    Deferred income tax liability, net   989       3,787       4,629  
    Other liabilities   8,806       8,191       7,460  
    Total liabilities   4,103,553       4,026,016       4,093,405  
                           
    Stockholders’ equity:                      
    Preferred stock, $1.00 par value, 2,500,000 shares authorized, none issued                
    Common stock, $1.00 par value, 5,000,000 shares authorized; 2,180,250 shares issued and outstanding at June 30, 2024 and December 31, 2024, and 2,181,250 shares issued and outstanding at June 30, 2025   2,180       2,180       2,181  
    Additional paid-in capital   15,467       15,571       15,777  
    Undivided profits   399,531       414,004       427,794  
    Total stockholders’ equity   417,178       431,755       445,752  
    Total liabilities and stockholders’ equity $ 4,520,731     $ 4,457,771     $ 4,539,157  
                           
     
    HINGHAM INSTITUTION FOR SAVINGS
    Consolidated Statements of Income
               
          Three Months Ended   Six Months Ended
          June 30,   June 30,
    (In thousands, except per share amounts) 2024
      2025
      2024   2025
    (Unaudited)                      
    Interest and dividend income:                            
      Loans $ 44,665     $ 46,752     $ 87,785     $ 91,973  
      Debt securities   87       97       132       192  
      Equity securities   1,551       1,365       3,001       2,816  
      Federal Reserve and other short-term investments   2,745       3,072       5,572       6,127  
        Total interest and dividend income   49,048       51,286       96,490       101,108  
    Interest expense:                              
      Deposits   22,141       17,841       43,287       36,462  
      Federal Home Loan Bank   16,539       15,406       33,751       30,571  
        Total interest expense   38,680       33,247       77,038       67,033  
        Net interest income   10,368       18,039       19,452       34,075  
    Provision for credit losses   180       450       288       750  
      Net interest income, after provision for credit losses   10,188       17,589       19,164       33,325  
    Other income:                              
      Customer service fees on deposits   138       139       275       274  
      Increase in cash surrender value of bank-owned life insurance   82       79       163       163  
      Gain on equity securities, net   2,464       2,516       8,434       3,797  
      Miscellaneous   49       73       104       122  
        Total other income   2,733       2,807       8,976       4,356  
    Operating expenses:                              
      Salaries and employee benefits   4,234       4,392       8,531       8,859  
      Occupancy and equipment   394       417       825       856  
      Data processing   738       758       1,493       1,482  
      Deposit insurance   819       784       1,629       1,532  
      Foreclosure and related   14       14       46       24  
      Marketing   187       222       276       358  
      Other general and administrative   908       959       1,721       1,905  
        Total operating expenses   7,294       7,546       14,521       15,016  
    Income before income taxes   5,627       12,850       13,619       22,665  
    Income tax provision   1,525       3,436       2,649       6,127  
        Net income $ 4,102     $ 9,414     $ 10,970     $ 16,538  
                                       
    Cash dividends declared per common share $ 0.63     $ 0.63     $ 1.26     $ 1.26  
                                   
    Weighted average shares outstanding:                              
      Basic   2,180       2,181       2,175       2,181  
      Diluted   2,186       2,200       2,189       2,200  
                                       
    Earnings per share:                              
      Basic $ 1.88     $ 4.32     $ 5.04     $ 7.58  
      Diluted $ 1.88     $ 4.28     $ 5.01     $ 7.52  
                                     
     
    HINGHAM INSTITUTION FOR SAVINGS
    Net Interest Income Analysis
       
      Three Months Ended
      June 30, 2024   March 31, 2025   June 30, 2025
      Average
    Balance
    (9)
      Interest   Yield/
    Rate (10)
      Average
    Balance
    (9)
      Interest   Yield/
    Rate (10)
      Average
    Balance
    (9)
      Interest   Yield/
    Rate (10)
       
    (Dollars in thousands)  
    (Unaudited)                                                    
    Assets                                                    
    Loans (1) (2) $ 3,980,111   $ 44,665   4.49 %   $ 3,929,828   $ 45,221   4.67 %   $ 3,952,477   $ 46,752   4.74 %
    Securities (3) (4)   119,477     1,638   5.48       130,674     1,546   4.80       135,541     1,462   4.33  
    Short-term investments (5)   202,379     2,745   5.43       278,722     3,055   4.45       277,146     3,072   4.45  
    Total interest-earning assets   4,301,967     49,048   4.56       4,339,224     49,822   4.66       4,365,164     51,286   4.71  
    Other assets   66,218                 79,209                 78,230            
    Total assets $ 4,368,185               $ 4,418,433               $ 4,443,394            
                                                         
    Liabilities and stockholders’ equity:                                                    
    Interest-bearing deposits (6) $ 2,149,753   $ 22,141   4.12 %   $ 2,141,294   $ 18,621   3.53 %   $ 2,102,662   $ 17,841   3.40 %
    Borrowed funds   1,437,335     16,539   4.60       1,407,844     15,165   4.37       1,448,078     15,406   4.27  
    Total interest-bearing liabilities   3,587,088     38,680   4.31       3,549,138     33,786   3.86       3,550,740     33,247   3.76  
    Non-interest-bearing deposits   346,663                 413,877                 429,537            
    Other liabilities   15,503                 14,464                 16,378            
    Total liabilities   3,949,254                 3,977,479                 3,996,655            
    Stockholders’ equity   418,931                 440,954                 446,739            
    Total liabilities and stockholders’ equity $ 4,368,185               $ 4,418,433               $ 4,443,394            
    Net interest income       $ 10,368               $ 16,036               $ 18,039      
                                                         
    Weighted average interest rate spread             0.25 %               0.80 %               0.95 %
                                                         
    Net interest margin (7)             0.96 %               1.50 %               1.66 %
    Average interest-earning assets to average interest-bearing liabilities (8) 119.93 %   122.26 %   122.94 %  
    (1)   Before allowance for credit losses.
    (2)   Includes non-accrual loans.
    (3)   Excludes the impact of the average net unrealized gain or loss on securities.
    (4)   Includes Federal Home Loan Bank stock.
    (5)   Includes cash held at the Federal Reserve Bank.
    (6)   Includes mortgagors’ escrow accounts.
    (7)   Net interest income divided by average total interest-earning assets.
    (8)   Total interest-earning assets divided by total interest-bearing liabilities.
    (9)   Average balances are calculated on a daily basis.
    (10)   Annualized based on the actual number of days in the period.
         
     
    HINGHAM INSTITUTION FOR SAVINGS
    Net Interest Income Analysis
         
      Six Months Ended June 30,  
      2024     2025  
      Average
    Balance (9)
      Interest   Yield/
    Rate (10)
        Average
    Balance (9)
      Interest   Yield/
    Rate (10)
     
    (Dollars in thousands)                                  
    (Unaudited)                                  
                                       
    Loans (1) (2) $ 3,968,123   $ 87,785   4.42 %   $ 3,941,215   $ 91,973   4.71 %
    Securities (3) (4)   117,840     3,133   5.32       133,121     3,008   4.56  
    Short-term investments (5)   205,312     5,572   5.43       277,930     6,127   4.45  
    Total interest-earning assets   4,291,275     96,490   4.50       4,352,266     101,108   4.68  
    Other assets   65,126                 78,717            
    Total assets $ 4,356,401               $ 4,430,983            
                                       
    Interest-bearing deposits (6) $ 2,124,302   $ 43,287   4.08 %   $ 2,121,871   $ 36,462   3.47 %
    Borrowed funds   1,454,181     33,751   4.64       1,428,072     30,571   4.32  
    Total interest-bearing liabilities   3,578,483     77,038   4.31       3,549,943     67,033   3.81  
    Non-interest-bearing deposits   346,399                 421,750            
    Other liabilities   14,882                 15,428            
    Total liabilities   3,939,764                 3,987,121            
    Stockholders’ equity   416,637                 443,862            
    Total liabilities and stockholders’ equity $ 4,356,401               $ 4,430,983            
    Net interest income       $ 19,452               $ 34,075      
                                       
    Weighted average interest rate spread             0.19 %               0.87 %
                                       
    Net interest margin (7)             0.91 %               1.58 %
                                       
    Average interest-earning assets
    to average interest-bearing
    liabilities (8)
      119.92 %               122.60 %          
    (1)   Before allowance for credit losses.
    (2)   Includes non-accrual loans.
    (3)   Excludes the impact of the average net unrealized gain or loss on securities.
    (4)   Includes Federal Home Loan Bank stock.
    (5)   Includes cash held at the Federal Reserve Bank.
    (6)   Includes mortgagors’ escrow accounts.
    (7)   Net interest income divided by average total interest-earning assets.
    (8)   Total interest-earning assets divided by total interest-bearing liabilities.
    (9)   Average balances are calculated on a daily basis.
    (10)   Annualized based on the actual number of days in the period.
         
     
    HINGHAM INSTITUTION FOR SAVINGS
     Non-GAAP Reconciliation
     

    The Bank believes the presentation of the following non-GAAP financial measures provide useful supplemental information that is essential to an investor’s proper understanding of the results of operations and financial condition of the Bank. Management uses these measures in its analysis of the Bank’s performance. These non-GAAP measures should not be viewed as substitutes for the financial measures determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other banks.

    The table below presents the reconciliation between net income and core net income, a non-GAAP measurement that represents net income excluding the after-tax net gain on equity securities, both realized and unrealized.

      Three Months Ended   Six Months Ended
      June 30,   June 30,
    (In thousands, unaudited) 2024   2025   2024   2025
                       
    Non-GAAP reconciliation:                      
    Net income $ 4,102     $ 9,414     $ 10,970     $ 16,538  
    Gain on equity securities, net   (2,464 )     (2,516 )     (8,434 )     (3,797 )
    Income tax expense (1)   543       555       1,859       837  
    Core net income $ 2,181     $ 7,453     $ 4,395     $ 13,578  
    (1)   The equity securities are held in a tax-advantaged subsidiary corporation. The income tax effect of the gain on equity securities, net, was calculated using the effective tax rate applicable to the subsidiary.
         

    The table below presents the calculation of the efficiency ratio, a non-U.S. GAAP performance measure that management uses to assess operational efficiency which represents total operating expenses, divided by the sum of net interest income and total other income, excluding net gain on equity securities, both realized and unrealized.

      Three Months Ended   Six Months Ended  
      June 30,
      March 31,
      June 30,
      June 30,  
    (In thousands, unaudited) 2024   2025   2025   2024   2025  
                                         
    Non-U.S. GAAP efficiency ratio calculation:                                    
    Operating expenses $ 7,294       $ 7,470       $ 7,546     $ 14,521       $ 15,016    
                                         
    Net interest income $ 10,368       $ 16,036       $ 18,039     $ 19,452       $ 34,075    
    Other income   2,733         1,549         2,807       8,976         4,356    
    Gain on equity securities, net   (2,464 )       (1,281 )       (2,516 )     (8,434 )       (3,797 )  
    Total revenue $ 10,637       $ 16,304       $ 18,330     $ 19,994       $ 34,634    
                                         
    Efficiency ratio   68.57   %     45.82   %     41.17   %   72.63   %     43.36   %
                                                   

    CONTACT: Patrick R. Gaughen, President and Chief Operating Officer (781) 783-1761

    The MIL Network

  • MIL-OSI USA: Labrador Letter: Idaho’s Legal Fight Helps Trump End Nationwide Injunctions

    Source: US State of Idaho

    Home Newsroom Labrador Letter: Idaho’s Legal Fight Helps Trump End Nationwide Injunctions

    Dear Friends,
    I promised when I became Idaho’s 33rd Attorney General that I would be aggressive in defending the laws of our state and the constitutional rights of our citizens. Recently, the United States Supreme Court delivered a landmark victory that proves this approach was correct—and Idaho’s legal work helped make it possible.
    In Trump v. Casa, the Supreme Court cited our case, Labrador v. Poe, six times when establishing new legal precedent that ends the era of a single federal judge blocking policies for the entire country, referred to as “universal injunctions.” When the nation’s highest court uses Idaho’s case as legal precedent to rule on a critically important constitutional question, it proves that principled legal strategy works.
    This victory began right here in Idaho. When we defended our Vulnerable Child Protection Act, which protects children from dangerous and irreversible gender hormones and procedures, activists challenged the law. A federal district judge issued a universal injunction that blocked Idaho from enforcing the entire law anywhere in the state.
    We immediately appealed this judicial overreach to the Ninth Circuit, arguing that the injunction should apply only to the two plaintiffs who sued, not every person in Idaho. When the Ninth Circuit refused to narrow the scope, we took the case directly to the Supreme Court.
    In April 2024, the Supreme Court granted our request in Labrador v. Poe. Justice Gorsuch wrote a powerful concurring opinion explaining why these universal injunctions circumvent normal judicial processes, force judges to make rushed, high-stakes, low-information decisions, and let parties by barring the enforcement of a duly enacted law against anyone through strategic judge shopping.
    That legal reasoning became the foundation for this landmark decision. The Supreme Court used our precedent to rule that federal judges can no longer issue universal injunctions that let one judge in one courthouse block policies for the entire nation.
    This couldn’t come at a better time. Americans watched in frustration during President Trump’s first term as single federal judges issued sweeping orders that blocked his agenda at every turn. Now in his second term, federal judges have continued issuing nationwide injunctions trying to stop President Trump from firing unaccountable bureaucrats, cutting wasteful USAID spending, and deporting criminal illegal aliens.
    No longer should a single federal judge in California or New York issue an order that stops the Trump administration, or any future administration, from enforcing immigration law nationwide. And in the same way, federal judges should not prevent Idaho from enforcing our laws on the books across the state if only a handful of individuals sue. Federal judges must now limit their orders to the actual parties in front of them, not the whole country or state.
    While liberal critics and the press—but I repeat myself—have attacked our approach throughout my time as Attorney General, the results speak for themselves. When the Supreme Court cites your case to establish binding legal precedent that protects constitutional governance nationwide, that is a clear sign that we are doing something right.
    I’m proud that Idaho’s legal work established the precedent for the Supreme Court victory in Trump v. Casa. We didn’t just defend our state’s sovereignty—we helped restore the proper balance of power between judges and the American people. When voters elect leaders to enact their priorities, no single federal judge should have the power to override the will of millions. That principle now stands as the law of the land.
    Best Regards,

    MIL OSI USA News

  • MIL-OSI USA: Labrador Letter: Idaho’s Legal Fight Helps Trump End Nationwide Injunctions

    Source: US State of Idaho

    Home Newsroom Labrador Letter: Idaho’s Legal Fight Helps Trump End Nationwide Injunctions

    Dear Friends,
    I promised when I became Idaho’s 33rd Attorney General that I would be aggressive in defending the laws of our state and the constitutional rights of our citizens. Recently, the United States Supreme Court delivered a landmark victory that proves this approach was correct—and Idaho’s legal work helped make it possible.
    In Trump v. Casa, the Supreme Court cited our case, Labrador v. Poe, six times when establishing new legal precedent that ends the era of a single federal judge blocking policies for the entire country, referred to as “universal injunctions.” When the nation’s highest court uses Idaho’s case as legal precedent to rule on a critically important constitutional question, it proves that principled legal strategy works.
    This victory began right here in Idaho. When we defended our Vulnerable Child Protection Act, which protects children from dangerous and irreversible gender hormones and procedures, activists challenged the law. A federal district judge issued a universal injunction that blocked Idaho from enforcing the entire law anywhere in the state.
    We immediately appealed this judicial overreach to the Ninth Circuit, arguing that the injunction should apply only to the two plaintiffs who sued, not every person in Idaho. When the Ninth Circuit refused to narrow the scope, we took the case directly to the Supreme Court.
    In April 2024, the Supreme Court granted our request in Labrador v. Poe. Justice Gorsuch wrote a powerful concurring opinion explaining why these universal injunctions circumvent normal judicial processes, force judges to make rushed, high-stakes, low-information decisions, and let parties by barring the enforcement of a duly enacted law against anyone through strategic judge shopping.
    That legal reasoning became the foundation for this landmark decision. The Supreme Court used our precedent to rule that federal judges can no longer issue universal injunctions that let one judge in one courthouse block policies for the entire nation.
    This couldn’t come at a better time. Americans watched in frustration during President Trump’s first term as single federal judges issued sweeping orders that blocked his agenda at every turn. Now in his second term, federal judges have continued issuing nationwide injunctions trying to stop President Trump from firing unaccountable bureaucrats, cutting wasteful USAID spending, and deporting criminal illegal aliens.
    No longer should a single federal judge in California or New York issue an order that stops the Trump administration, or any future administration, from enforcing immigration law nationwide. And in the same way, federal judges should not prevent Idaho from enforcing our laws on the books across the state if only a handful of individuals sue. Federal judges must now limit their orders to the actual parties in front of them, not the whole country or state.
    While liberal critics and the press—but I repeat myself—have attacked our approach throughout my time as Attorney General, the results speak for themselves. When the Supreme Court cites your case to establish binding legal precedent that protects constitutional governance nationwide, that is a clear sign that we are doing something right.
    I’m proud that Idaho’s legal work established the precedent for the Supreme Court victory in Trump v. Casa. We didn’t just defend our state’s sovereignty—we helped restore the proper balance of power between judges and the American people. When voters elect leaders to enact their priorities, no single federal judge should have the power to override the will of millions. That principle now stands as the law of the land.
    Best Regards,

    MIL OSI USA News

  • MIL-OSI Economics: Members address trade concerns, current trade tensions at Goods Council meeting

    Source: World Trade Organization

    Trade concerns

    The CTG reviewed 36 trade concerns, with a new concern raised by Australia regarding India’s certification process for cotton bales (Quality Control Order) 2023. It also considered, under other business, a request by the Republic of Korea to discuss the United Kingdom’s safeguard measure on certain steel products.  

    Trade concerns previously raised in the CTG have covered a wide range of measures relating to trade in goods across the WTO membership, including non-tariff barriers, environmental policies, import taxes, import/export restrictions, national security measures, halal certification, subsidy schemes, export controls, sanitary and phytosanitary (SPS) measures, discriminatory domestic taxes, administrative procedures and reciprocal tariffs.

    They have also encompassed a wide range of sectors, including agriculture, semi-conductors and semi-conductor-manufacturing equipment, shipbuilding and food products as well as specific products, such as critical minerals, electric vehicles, electric batteries, liquors, air conditioners, apples and pears, cheese, pulses, cosmetics and tyres.

    Current trade tensions

    The United States made a statement in response to the notifications by the European Union, India, Japan and the United Kingdom proposing to suspend concessions under Article 8.2 of the WTO’s Agreement on Safeguards in response to US tariff measures (G/C/W/863, G/C/W/864, G/C/W/865, G/C/W/866).

    The United States said the tariffs imposed by President Trump were taken under Section 232, a national security statute, and the US was maintaining these actions pursuant to the essential security exception in Article XXI of the General Agreement on Tariffs and Trade (GATT) 1994. As these actions are not safeguard measures, the US said, the suspension of concessions under the Agreement on Safeguards was not applicable.

    The EU, India, Japan and the United Kingdom took the floor to explain that they considered the characteristics of the measures as those of safeguards and thus had reserved their rights to suspend concessions under the Safeguards Agreement, without prejudice to ongoing negotiations.

    Canada, the European Union and Norway made statements regarding the fragmentation of global trade through tariffs and the resulting global costs. They said the recent tariffs announced or implemented by the United States continued to severely disrupt global trade and undermine predictability in the international trading system, with rising economic costs across the globe for consumers and companies. They also voiced their support for the multilateral trading system, with the WTO at its core, but also recognized the need for reform of the organization and its rules to reflect today’s economic realities.

    Thirteen other WTO members took the floor to comment on the item, including the United States, which considered that the trading system had been unable to address trade imbalances and non-market policies and practices.  The US called for WTO reform, based on fairness and reciprocity.

    Improving the functioning of the Council for Trade in Goods

    The Chair of the CTG, Ambassador Gustavo Nerio Lunazzi (Argentina), reported on his consultations with members on improving the functioning of the CTG. Recommendations from members included enhancing the value of trade concerns discussions by focusing on their political aspects, avoiding repetition on technical issues raised at subsidiary bodies, and encouraging bilateral engagement. Members also proposed improving transparency through better use of digital tools, more effective notification processes and regular reporting on thematic sessions.

    The Chair recommended continuing discussions in an informal meeting in September to further explore these ideas and foster inclusive, member-driven engagement. Ten members made statements under this agenda item, supporting the Chair’s report and suggestions.

    Following on from discussions that took place earlier in the year, the CTG adopted a decision on the recording of the resolution of trade concerns, which takes into account the practices of the WTO’s Committees on Sanitary and Phytosanitary (SPS) Measures and Technical Barriers to Trade (TBT). Three members took the floor to express their support for the draft as a positive symbol and move towards the Council’s further efficiency. 

    Caribbean Basin Economic Recovery Act

    Members considered a request from the United States for a waiver from WTO rules for trade preferences provided under the Caribbean Basin Recovery Act.  The United States noted the waiver is similar to the one the CTG approved in 2019, except for programmes related to Haiti that have yet to receive the necessary legislative re-authorization. The initiative creates opportunities to expand trade between the United States and the Caribbean, thus promoting economic opportunity and growth in the region, the US added.

    Several Caribbean members took the floor, encouraging members to favourably consider the request.  The CTG agreed to forward the draft decision to the General Council so it can be considered at its upcoming meeting.

    Next meeting

    The next formal meeting of the Council for Trade in Goods will take place on 27-28 November, and the next informal meeting is scheduled for 24 September.

    Share

    MIL OSI Economics

  • MIL-OSI USA: Ranking Members Schatz and Shaheen Introduce Legislation to Prevent Lifesaving U.S. Aid from Going to Waste

    US Senate News:

    Source: United States Senator for Hawaii Brian Schatz
    WASHINGTON – This week, U.S. Senators Jeanne Shaheen (D-NH), Ranking Member of the Senate Foreign Relations Committee, and Brian Schatz (D-HI), Ranking Member of the Senate Subcommittee on Foreign Operation Appropriations, introduced the “Saving Lives and Taxpayer Dollars Act,” legislation to prevent the unnecessary destruction and waste of foreign assistance commodities—including food, medicine and medical devices—by ensuring that they are delivered to intended recipients before they spoil or expire. The bill would prohibit the destruction of any such commodities unless all efforts to sell or donate them have been exhausted and requires reporting to Congress on any destroyed goods. 
    Specifically, the “Saving Lives and Taxpayer Dollars Act” seeks to prevent the State Department’s planned destruction of $9.7 million in family planning commodities instead of donating them to intended beneficiaries. It would also impose requirements to prevent the imminent spoilage of emergency food commodities in warehouses, including a USAID warehouse in Houston, Texas. 
    “This bill will save lives and prevent the wasting of taxpayer dollars by ensuring that already paid-for life-saving commodities, like food and medicine, are delivered to people in need instead of being pointlessly trashed,” said Ranking Member Shaheen. “At a moment when the Trump Administration has made devastating cuts to foreign assistance it is disappointing that the State Department would sign off on spending money to actually destroy paid-for commodities that would save lives and are waiting to be deployed. Food and family planning commodities are desperately needed in conflict affected countries, like Sudan and the Democratic Republic of Congo where famine is taking hold. Women are at high risk for sexual violence in conflict settings. This is sadly yet another example of how Elon Musk and the DOGE boys have simultaneously managed to cost lives and undercut America’s influence abroad without saving the taxpayer a single cent.” 
    “Intentionally destroying health care products or letting food and medication that the United States government has already paid for as part of our foreign assistance efforts rot and expire in warehouses is absurd. It’s a total waste of taxpayer dollars and is needlessly costing lives around the world,” said Ranking Member Schatz. “Our bill requires the administration to follow common-sense and distribute foreign assistance commodities before they expire.” 
    Last week, Ranking Member Shaheen sent a letter to Secretary of State Marco Rubio urging him to reverse the State Department’s decision to destroy more than $9 million dollars in family planning commodities intended to support women in crisis settings globally. U.S. family planning assistance reaches 47.6 million women and couples every year, preventing 8.1 million unintended pregnancies, 5.2 million unsafe abortions and 34,000 maternal deaths. 
    Full text of the bill can be found HERE. 
    The “Saving Lives and Taxpayer Dollars Act” would:  
    Require that foreign assistance commodities, including food, medicine, and medical devices be made available to intended beneficiaries before the commodities spoil or expire.   
    Prevent the destruction of any commodity procured or held by the United States unless every effort has been made to sell or donate the commodity before the applicable spoilage or expiration date.   
    Require reporting to Congress on any destroyed commodities, including the market value of any product or commodity destroyed; and the cost incurred to destroy the commodity. 

    MIL OSI USA News

  • MIL-OSI Europe: Text adopted – 2023 and 2024 reports on North Macedonia – P10_TA(2025)0157 – Wednesday, 9 July 2025 – Strasbourg

    Source: European Parliament

    The European Parliament,

    –  having regard to the Stabilisation and Association Agreement between the European Communities and their Member States, of the one part, and the Republic of North Macedonia, of the other part(1),

    –  having regard to North Macedonia’s application for membership of the European Union, submitted on 22 March 2004,

    –  having regard to the European Council decision of 16 December 2005 to grant North Macedonia EU candidate country status,

    –  having regard to the European Council conclusions of 19-20 June 2003, including the annex thereto entitled ‘The Thessaloniki agenda for the Western Balkans: Moving towards European integration’,

    –  having regard to Regulation (EU) 2021/1529 of the European Parliament and of the Council of 15 September 2021 establishing the Instrument for Pre-Accession assistance (IPA III)(2),

    –  having regard to Regulation (EU) 2024/1449 of the European Parliament and of the Council of 14 May 2024 on establishing the Reform and Growth Facility for the Western Balkans(3),

    –  having regard to the Commission communication of 5 February 2020 entitled ‘Enhancing the accession process – A credible EU perspective for the Western Balkans’ (COM(2020)0057),

    –  having regard to the Commission communication of 8 November 2023 entitled ‘2023 Communication on EU Enlargement Policy’ (COM(2023)0690), accompanied by the Commission staff working document entitled ‘North Macedonia 2023 Report’ (SWD(2023)0693),

    –  having regard to the Commission communication of 8 November 2023 entitled ‘New growth plan for the Western Balkans’ (COM(2023)0691),

    –  having regard to the Commission communication of 20 March 2024 on pre-enlargement reforms and policy reviews (COM(2024)0146),

    –  having regard to the Commission communication of 24 July 2024 entitled ‘2024 Rule of Law Report’ (COM(2024)0800), accompanied by the Commission staff working document entitled ‘2024 Rule of Law Report – Country Chapter on the rule of law situation in North Macedonia’ (SWD(2024)0830),

    –  having regard to the Commission communication of 30 October 2024 entitled ‘2024 Communication on EU enlargement policy’ (COM(2024)0690), accompanied by the Commission staff working document entitled ‘North Macedonia 2024 Report’ (SWD(2024)0693),

    –  having regard to the Reform Agenda of North Macedonia as approved by the Commission under the Reform and Growth Facility on 23 October 2024,

    –  having regard to the declarations of the EU-Western Balkans summits of 13 December 2023 and of 18 December 2024 in Brussels as well as the declarations of the EU-Western Balkans summits held in Sofia, Zagreb and Brdo pri Kranju in 2018, 2020 and 2021 respectively, and the Declaration on the Common Regional Market and the Declaration on the Green Agenda for the Western Balkans agreed on 10 November 2020 at the Sofia Summit within the Berlin Process,

    –  having regard to the Council conclusions of 18 July 2022 on Enlargement – North Macedonia and Albania and the Council conclusions on Enlargement of 17 December 2024,

    –  having regard to the final report of 23 September 2024 of the Organization for Security and Co-operation in Europe (OSCE) Office for Democratic Institutions and Human Rights (ODIHR) Election Observation Mission on North Macedonia’s presidential election on 24 April 2024 and parliamentary elections on 8 May 2024,

    –  having regard to the Berlin Process launched on 28 August 2014,

    –  having regard to the Treaty of friendship, good neighbourliness and cooperation between Bulgaria and North Macedonia, signed on 1 August 2017 and ratified in January 2018;

    –  having regard to the Final Agreement for the settlement of the differences as described in the United Nations Security Council resolutions 817 (1993) and 845 (1993), the termination of the Interim Accord of 1995, and the establishment of a strategic partnership between Greece and North Macedonia, agreed on 17 June 2018, also known as the Prespa Agreement,

    –  having regard to the joint staff working document entitled ‘Objectives and Indicators to frame the implementation of the Gender Action Plan III (2021-25)’ (SWD(2020)0284) accompanying the joint communication of the Commission and the High Representative of the Union for Foreign Affairs and Security Policy of 25 November 2020 entitled ’EU Gender Action Plan (GAP) III – An ambitions vision for gender equality and women’s empowerment in EU external action (JOIN(2020)0017), as well as the Country Level Implementation Plan (CLIP) for North Macedonia,

    –  having regard to the 2023 European Commission against Racism and Intolerance (ECRI) Report on North Macedonia, adopted on 29 June 2023 and published on 20 September 2023,

    –  having regard to the declaration and joint recommendations adopted at the 23rd meeting of the EU-North Macedonia Joint Parliamentary Committee, held on 27 and 28 February 2025 in Skopje,

    –  having regard to its previous resolutions on North Macedonia, and in particular its resolution of 24 October 2019 on opening accession negotiations with North Macedonia and Albania(4),

    –  having regard to Rule 55 of its Rules of Procedure,

    –  having regard to the report of the Committee on Foreign Affairs (A10-0118/2025),

    A.  whereas North Macedonia has held EU candidate country status since 2005 and successfully completed the screening process in December 2023;

    B.  whereas the aspirations of citizens of North Macedonia to become part of the EU have led to progress in terms of democracy and socio-economic reforms, while the EU accession process continues to experience regrettable delays for various reasons;

    C.  whereas the EU has mobilised approximately EUR 210 million in macro-financial assistance loans since 2020, aimed at stabilising the Macedonian economy, aiding its recovery from the COVID-19 pandemic and accelerating its reform progress;

    D.  whereas North Macedonia is a partner that is aligned with the EU’s common foreign and security policy in the vast majority of cases and has played a constructive role in the region; whereas North Macedonia’s recent abstention from United Nations General Assembly Resolution ES-11/7 of 24 February 2025 on Ukraine and its co-sponsorship of an alternative resolution led by the United States indicates an unexpected and regrettable shift in its foreign policy alignment;

    E.  whereas North Macedonia participates in EU military crisis management operations, including EUFOR Althea in Bosnia and Herzegovina;

    F.  whereas the Council reached new conclusions in July 2022 which mean that North Macedonia needs to adopt the outstanding constitutional changes, in line with its commitments, so that the opening phase of accession negotiations can be completed immediately;

    G.  whereas the geopolitical changes, the war in Ukraine, disinformation and misinformation have a strong impact on all European countries, both politically and economically;

    H.  whereas North Macedonia remains a target of foreign malign influence operations, including efforts to fracture the country’s social fabric and weaponise anti-EU sentiment, notably via Serbian-language tabloids and media outlets, which function as regional amplifiers of Kremlin narratives and enjoy considerable influence; whereas North Macedonia expelled 13 Russian diplomats between 2018 and 2023 for activities incompatible with their diplomatic status, suggesting an ongoing presence of covert influence networks; whereas China has sought to expand its influence through information control, investment diplomacy and coercive clauses in infrastructure loan agreements;

    I.  whereas North Macedonia’s authorities have proposed solutions for constitutional change that did not meet the conditions of the July 2022 Council conclusions;

    J.  whereas any accession country is expected to respect democratic values, the rule of law and human rights, and to abide by EU law;

    K.  whereas the Council has not excluded unequivocally the adoption of further new conditions for the starting of accession negotiations;

    1.  Reiterates its full support for North Macedonia’s continued and persistent commitment to join the EU and for the necessary transformative changes that are required to fulfil the accession criteria; commends the country’s commitment to European integration and encourages continued efforts in advancing EU-aligned reforms, despite the challenges and setbacks that have tested the patience and trust of the Macedonian society;

    2.  Underlines that EU accession remains a matter of political will in fulfilling the criteria and implementing the commitments undertaken, in terms of both making the necessary reforms and adopting the necessary constitutional amendments;

    3.  Recalls the need to maintain the momentum and credibility of the EU integration process; notes that North Macedonia continues to demonstrate commitment to EU integration and alignment with EU policies; calls for the swift advancement of accession negotiations, while noting the importance of adopting the constitutional amendments; urges the European Council to signal, publicly and unequivocally, that the Council intends to swiftly and unconditionally take the positive decision to enter into the next phase of accession negotiations with North Macedonia once the conditions of its conclusions of 18 July 2022 have been fulfilled; encourages all political parties in North Macedonia to engage in constructive dialogue to achieve the necessary consensus on these amendments, which would strengthen the country’s multi-ethnic character and accelerate its progress towards EU membership; believes that strengthening the links between the multiple ethnicities is essential for improving social cohesion and ensuring more effective governance; calls on the Member States, the Council and the Commission to safeguard the predictability and credibility of the accession process, also with a view to maintaining popular support for accession in enlargement countries;

    4.  Welcomes the successful completion of the screening process for North Macedonia at the end of 2023; encourages North Macedonia to adopt the constitutional amendments that the country committed to making and implementing, as required by the Council, in order for the accession negotiation process to proceed;

    5.  Commends the commitment of the Macedonian people to EU integration and the support they show to this project two decades on from starting the process; urges the Commission to do the utmost to help the authorities of North Macedonia accomplish the necessary steps before entering into the next negotiation phase as well as further along the negotiation process, to help deliver on the expectations of citizens and the country and to explore all measures for gradual integration into the EU structures, thus increasing trust in the EU and its democratic values;

    6.  Recalls that the accession process should not be used to settle bilateral disputes, obstruct merit-based progress on the European path or outweigh the broader strategic interests of the Union, but that such disputes must rather be addressed through open dialogue and genuine cooperation; underlines that accession negotiations should follow a clear path, guided by objective criteria and solely based on merit and the fulfilment of the accession criteria (Copenhagen criteria), which require in-depth reforms across fundamental areas, as well as the presence of stable institutions that guarantee democracy, the rule of law, human rights and respect for and the protection of minorities;

    7.  Reaffirms that the respect for linguistic, cultural and national identity is a fundamental component of the EU accession process and a cornerstone of democratic societies which will be further affirmed with the accession to the family of European nations;

    8.  Repeats its calls for the EU’s capacity to act to be enhanced through a reform of its decision-making, including through the introduction of qualified majority voting on the intermediate steps in the accession process, in particular at the start of negotiations and the opening and closing of individual negotiating clusters and chapters;

    9.  Welcomes the new Reform and Growth Facility for the Western Balkans which will provide EUR 750 million in grants and loans to North Macedonia when it meets the conditions set out in its Reform Agenda; welcomes, in this context, the excellent and ambitious Reform Agenda, which sets clear, transparent goals and targets, and calls on the authorities to focus on its rigorous implementation; underlines the need to focus on incentivising reforms and reinforcing economic stability as well as on public administration, governance, the rule of law and the fight against corruption, decarbonisation and the green transition, digitalisation, connectivity and human capital development, while addressing social challenges;

    10.  Notes the funds being received by North Macedonia from individual Member States and the good cooperation between them; warns however about strengthening alliances with illiberal regimes;

    11.  Commends North Macedonia on its continued commitment to the EU integration process and regrets the delays in the accession process; welcomes the stability of and encourages continued efforts to secure interethnic relations and the implementation of the Ohrid Framework Agreement;

    12.  Encourages North Macedonia to achieve tangible results in complying with the EU’s expectations under the negotiating framework and the Council conclusions of July 2022, including relevant constitutional changes, in line with the country’s commitments;

    13.  Urges North Macedonia to intensify efforts to strengthen the rule of law and judicial independence, including in judicial appointments and the functioning of the Judicial Council, to counter corruption, reform its public administration and improve the transparency and concentration of media ownership; encourages further implementation of systemic measures to ensure transparency and efficiency in governance;

    14.  Expresses its profound sorrow and heartfelt solidarity following the tragic Kočani nightclub fire that led to the death of more than 50 young people and injuries to more than 150 others and offers its condolences to the victims and their families; commends the rapid use of the EU Civil Protection Mechanism and the help provided by the Member States to save as many lives as possible; commends neighbouring and EU countries, in particular Greece and Bulgaria, for the immediate support and solidarity they showed and the medical treatment they provided to victims;

    Functioning of democratic institutions

    15.  Notes that, while democratic institutions in North Macedonia function satisfactorily, political polarisation remains a major stumbling block to necessary reforms; calls on the political parties represented in the country’s parliament to work together to reach an agreement on those reforms;

    16.  Welcomes the adoption of new rules of procedure by the Assembly of the Republic of North Macedonia (Sobranie), facilitated by the European Parliament within the framework of the Jean Monnet Dialogue; stresses, however, that persistent political polarisation continues to delay important reforms and appointments; emphasises that cross-party collaboration and an improved political climate remain vital to accelerate the implementation of EU-related reforms and strengthen democratic institutions;

    17.  Notes with concern that about half of all laws enacted by the Sobranie in 2023 were approved through shortened procedures; calls on the Sobranie to improve its legislative planning, coordination and quality through proper consultation procedures and parliamentary oversight, in particular with a view to the conclusions of the Jean Monnet Dialogue and to avoid fast-track procedures;

    18.  Stresses that, while the 2024 parliamentary and presidential elections were competitive, and democratic and amendments to the Electoral Code have been made, comprehensive electoral reform is still needed; calls strongly for the implementation of the outstanding recommendations made by the OSCE/ODIHR and the Venice Commission through an inclusive revision of the Electoral Code, while underlining the importance of insulating future electoral processes from malign foreign interference and information manipulation, including through the adoption of robust cybersecurity and online campaign transparency rules;

    19.  Calls for improved regulation of the financing of political parties and campaigns, including measures to increase transparency regarding the funds and expenses of political parties; urges a revision of the rules on state advertising in commercial media and paid political advertisement; emphasises the need for functioning oversight mechanisms to ensure integrity in party financing and for equal and adequate media access for political parties and independent candidates;

    20.  Calls for the continued modernisation of a merit-based public administration, addressing systemic challenges of politicisation, strengthening transparent recruitment processes, and reforming local self-government to provide better social services for citizens and to develop tailor-made local and regional development strategies; urges the authorities to step up their efforts and adopt and implement the necessary legislation with a view to improving public trust in the administration and fostering a resilient and capable public service that can effectively respond to contemporary challenges and serve the needs of the community; commends the 2023-2030 public administration strategy and the related action plan for 2023-2026 adopted in July 2023; acknowledges that they cover all relevant reform areas and set out a clear baseline, objectives and targets, thus identifying crucial policy challenges; regrets, however that the implementation rate remains low;

    21.  Calls for further steps to ensure the systemic accountability of public institutions through meaningful and public stakeholder consultations, including with regard to the implementation of the Reform Agenda, and to provide feedback from the consultations conducted; commends the law on general administrative procedures that is providing for simplification, but strongly recommends that it be implemented systematically across the administration;

    22.  Urges the authorities of North Macedonia to refrain from opaque, politicised dismissals from, and appointments to, positions within independent bodies and agencies, as well as to ensure that the institutions are adequately funded and that decisions and recommendations are implemented consistently; notes with regret the continued lack of progress in strengthening the office of the Ombudsman;

    Media and civil society

    23.  Welcomes North Macedonia’s steady progress in assuring media freedom; recalls however, the need for continued reforms to ensure an independent and resilient media landscape, including reforming the legal framework governing online and offline media to align fully with the European Media Freedom Act(5), addressing persistent challenges in media ownership transparency, digital media disclosure and media concentration; underlines the need for media reform that prioritises anti-concentration measures to safeguard journalistic integrity; emphasises the urgent need to counter malign foreign influence in the media landscape, including disinformation disseminated by actors linked to Russia and China;

    24.  Calls on the authorities to adopt a legal framework that effectively protects journalists, human rights defenders, environmental activists and other stakeholders from strategic lawsuits against public participation (SLAPPs), and to implement the provisions of the EU Anti-SLAPP Directive(6);

    25.  Urges the authorities to ensure full transparency and unimpeded access to information for citizens;

    26.  Notes with concern the reinstatement of government advertising in commercial media in North Macedonia; stresses the heightened risk of this measure opening the media market to disruption and undue political influence, thus endangering media independence and media pluralism; reiterates its calls for the comprehensive reform of the rules governing state financing and political party advertising in the media, noting the lack of transparency, the ongoing misuse of state funds for political advertising, and the continued risk of compromising media independence through opaque funding mechanisms; calls strongly for these reforms to be adopted and implemented before the local elections planned for autumn 2025;

    27.  Underlines the need to strengthen the independence and capacity of the media regulator, the public service broadcaster and the regulator of electronic communication;

    28.  Encourages action to enhance the editorial and financial independence, impartiality and professionalism of public service broadcasters and media regulators, while noting the continued delay in appointing key oversight bodies and the need for comprehensive modernisation efforts; calls for stricter transparency and ownership rules to expose covert influence, including foreign-sponsored media content, and for the establishment of mechanisms to identify and disrupt coordinated foreign disinformation networks;

    29.  Notes that certain Chinese diplomatic entities have financed paid content and opinion pieces in Macedonian media outlets without clear labelling; recalls that a 2023 analysis found that Russian state-affiliated actors had used Serbian media proxies to disseminate narratives hostile to NATO and to claim that the EU is pressuring North Macedonia to ‘abandon its identity’;

    30.  Expresses concern over the ongoing threats and attacks against independent journalists and media professionals, including misogynistic online harassment targeting women journalists, often targeting those reporting on the rule of law, corruption and justice; welcomes the assignment of a dedicated prosecutor to monitor these attacks on journalists and oversee the establishment of cyberbullying reporting mechanisms; calls for stronger measures to protect media professionals from physical and non-physical threats, harassment and the inappropriate use of language by public figures;

    31.  Encourages North Macedonia to continue the efforts to combat hate speech in all of its forms and targeting all groups, to proactively prevent and thoroughly investigate all instances of hate speech, hate crimes and intimidation, systematically prosecute related attacks, with a view to achieving convictions and ensuring the safety and security of their targets, such as journalists, people belonging to minorities, communities such as Bulgarians, and other vulnerable groups;

    32.  Expresses concern about the rise in hate speech and growing threats from disinformation in online media, over which the national Agency for Audio and Audiovisual Media Services has no regulatory authority; calls for strengthened measures to support investigative journalism, fact-checking capabilities and media literacy and to improve the legal framework and interinstitutional capacity in order to combat hate speech, disinformation and foreign interference; is concerned by widespread disinformation campaigns which call into question democratic values and the country’s goal of EU membership; calls, in this regard, for the support of the EU institutions to help the country mitigate these malicious effects; welcomes civil society initiatives promoting media fact-checking, digital literacy in schools and the combating of the spread of hate speech, and notes that nearly 50 % of the citizens of North Macedonia have adopted false narratives about international events, particularly regarding the war in Ukraine, underscoring the urgency of reinforcing societal resilience against malign information manipulation;

    33.  Underlines that civil society is vital in fostering democracy and pluralism and promoting good governance and social progress; welcomes the country’s vibrant and constructive civil society, which plays a very crucial and positive role in the reform process, and recalls that further efforts are needed to ensure inclusive, timely and meaningful consultation and transparency, as well as formal mechanisms for cooperation; welcomes, against this backdrop, the recent initiation of the process for re-establishing the Council for Cooperation with and Development of the Civil Society Sector and calls for enhanced cooperation between the government and civil society, especially in mitigating the implications for civil society of the recent ‘freeze’ of US Agency for International Development (USAID) funds; notes that, while civil society organisations operate in an overall enabling environment, legal and financial frameworks need to be implemented to ensure that their public funding is increased and that public funding mechanisms are transparent; is concerned about reports of an increase in hostile statements towards civil society and encourages the Ministry of Internal Affairs to work with civil society organisations to develop a security protocol for human rights defenders to ensure their protection against threats from non-state actors; calls strongly for further enhancement of the role of civil society by ensuring that it continues to be meaningfully included in the decision-making process and by consulting the Venice Commission before adopting future legislation related to non-governmental organisations (NGOs);

    Fundamental rights

    34.  Commends North Macedonia for ratifying most international human rights instruments; expresses concern, however, about the level of implementation, the lack of progress in gender equality, the rise of anti-gender movements and the increase in their influence, which have a negative impact on legislative and policymaking processes; urges the government to fully implement the Istanbul Convention; calls on the authorities to adopt the new Law on Gender Equality and to strengthen formal government structures designed to promote gender equality and improve the status and rights of women at all levels, as well as to ensure the effective implementation of the gender equality strategy and the national action plan, notably by ensuring adequate funding, enhancing interinstitutional coordination and aligning national policies with the EU acquis;

    35.  Urges the authorities to ensure the full and effective implementation of the existing legal framework for the protection of victims of gender-based and domestic violence, by allocating sufficient budgetary resources for prevention, and by improving access to support services, protection mechanisms and the enforcement of legally guaranteed social and economic rights of survivors; notes, against this background, the adoption in 2023 of the Law on Payment of Monetary Compensation to Victims of Violent Crimes, which integrates the standards of the Istanbul Convention to provide better protection for victims of gender-based violence; urges the authorities, furthermore, to strengthen their efforts to reduce and mitigate gender-based violence and domestic violence, and to increase shelter capacity and personnel, as well as the number of well-trained and gender-sensitive law enforcement officers, judges, medical personnel and social workers;

    36.  Notes, with concern, the dire situation of young women in prison, including juvenile girls aged between 14 and 16, who lack education and job skills training and are often overmedicated, with insufficient healthcare; urges the authorities of North Macedonia to take urgent measures to improve the detention conditions for all inmates, to reduce corruption and stop inhuman treatment, and to enhance the probation and reintegration of ex-prisoners into society;

    37.  Urges North Macedonia to fully implement the recommendations outlined in the 2023 ECRI report on North Macedonia in order to effectively address the human rights violations identified;

    38.  Welcomes the fact that interethnic relations remain stable and the Ohrid Framework Agreement continues to be implemented; commends North Macedonia’s efforts in strengthening minority rights protections, while encouraging further financial support; calls for adequate funding and staffing for institutions protecting the rights of non-majority communities; calls on political representatives of minority communities to avoid promoting divisive ethnic narratives echoing policies that caused profound suffering and wars in the region’s recent past; urges North Macedonia to fully implement the recommendations of the Advisory Committee on the Framework Convention for the Protection of National Minorities as regards the ‘One society for all and interculturalism’ strategy; calls on North Macedonia to provide sufficient funding and staff for the Language Implementation Agency and the Agency for Community Rights Realization; regrets that North Macedonia did not ratify the European Charter for Regional or Minority Languages; awaits a final decision on the contested Law on the Use of Languages, which may have an impact on interethnic relations;

    39.  Welcomes the progress the country has achieved in aligning its legislative and institutional framework for the rights of the child with the EU acquis and international human rights standards; notes the progress in implementing the strategy for deinstitutionalisation and welcomes the successful relocation of children from institutions to foster care or small group homes; notes with concern, however, the continued instances of child violence and discrimination, including against Roma children; calls, therefore, for the country to set up a national body responsible for coordinating all policies relating to the implementation of the UN Convention on the Rights of the Child and the optional protocols thereto;

    40.  Encourages North Macedonia to take meaningful steps toward recognising and incorporating national minorities and communities into its constitution, fostering inclusivity, protecting diversity, fighting discrimination and strengthening social cohesion in line with European values and democratic principles; calls on North Macedonia to fully guarantee equal rights and opportunities for all ethnic communities in the country;

    41.  Notes that persons with disabilities continue to face significant barriers as the country’s legislation is still not aligned with the UN Convention on the Rights of Persons with Disabilities; welcomes the national strategy for the rights of persons with disabilities for 2023-2030 and calls strongly for its proper implementation, including in regard to ensuring a sufficient number of educational assistants, in order to effectively and smoothly include children with disabilities in the education process;

    42.  Welcomes the first court ruling on hate speech against the LGBTIQ+ community, but calls strongly for the systematic prosecution of all instances of hate speech, hate crimes and intimidation, as well as for the inclusion of hate speech in the Criminal Code and for the state institutions responsible to keep adequate statistics on cases of hate speech and hate crimes;

    43.  Notes with concern the widespread hate speech on social media, particularly towards Roma, LGBTIQ+ persons and other marginalised groups; urges all political actors to amend the Law on Civil Registry and ensure swift and unimpeded legal gender recognition on the basis of self-determination, to uphold human rights, ensure dignity, and establish a clear and accessible legal process in line with international standards; recommends that the new Law on Primary Education maintain explicit protection against discrimination based on gender, sexual orientation and gender identity, ensuring alignment with national and international commitments; encourages the Assembly of North Macedonia to promptly (re-)establish an active interparliamentary LGBTIQ+ group to support and advance LGBTIQ+ rights;

    44.  Calls on North Macedonia to strengthen migration management, improve alignment with the EU acquis and address persistent challenges in handling regular and irregular migration while upholding fundamental human rights; welcomes enhanced cooperation on border management and the strengthening of the country’s capacity to manage migration flows and combat migrant smuggling, human trafficking and other organised crime; encourages the continued development of asylum procedures and integration policies and the improvement of reception conditions, in alignment with EU migration frameworks; stresses the importance of regional cooperation in migration management and urges the EU to provide further support in terms of resources, technical assistance and capacity-building in order to address migration challenges effectively;

    45.  Calls on North Macedonia to step up its efforts in the fight against human trafficking, notably by further aligning the Criminal Code with the EU acquis and its legislation on drugs;

    Rule of law

    46.  Notes, with serious concern, that the country’s track record in fighting corruption, including high-level corruption, has worsened, as also evidenced by its decline in Transparency International’s Corruption Perceptions Index, particularly owing to Criminal Code amendments that have weakened the legal framework, resulting in the termination of many ongoing cases; reiterates that this decline underscores the urgent need for comprehensive reforms; calls strongly for the anti-corruption framework to be strengthened and for effective accountability to be ensured, in particular in high-level corruption cases, through proper investigation, prosecution and convictions; urges a review of recent amendments to the Criminal Code in relation to sentencing standards and the statute of limitations, in order to ensure that the prosecution of corruption, especially of complex and high-level cases, is not negatively affected;

    47.  Recalls that sufficient financial and human resources are needed to ensure effective and consistent application of dissuasion, prevention, detection, investigation and sanction mechanisms for public office holders through broad measures covering conflicts of interest, lobbying, codes of ethics and whistle-blower protection;

    48.  Notes that the perceived level of trust in the judiciary remains very low and that further efforts are needed to prevent undue influence and intimidation; underlines the lack of progress in the implementation of the 2020 strategies for human resources management in the courts and in the public prosecutor’s office; calls strongly for the critical shortage of judges and prosecutors, which impacts the quality and efficiency of justice, to be addressed; calls for the independence and transparency of judicial bodies to be strengthened and for the funds necessary for their effective functioning to be allocated;

    49.  Calls for the strengthening of the Judicial Council and the Council of Prosecutors and for the allocation of necessary funds, while ensuring their independence; strongly urges political actors to cease interfering in judicial institutions;

    50.  Notes, with concern, the lack of progress in preventing and fighting corruption, and that financial investigations remain problematic; underlines how corruption continues to severely affect crucial policy areas; calls for the operational capacity and cooperation of agencies responsible for fighting organised crime and financial crime to be significantly strengthened, including through ensuring the necessary financial resources; encourages the country to improve its fight against organised and economic crime and cybercrime through a strengthened partnership with Europol, the European Cybercrime Centre and Eurojust; calls on North Macedonia to enhance its efforts to combat money laundering;

    51.  Calls for all necessary measures to be put in place to effectively counter organised crime; urges the authorities to improve coordination through the National Coordination Centre for the Fight Against Organised Crime as well as to allocate the necessary funds and staffing to the Office of the Basic Public Prosecutor for Organised Crime and Corruption; underlines the need to direct particular attention and resources towards uncovering money-laundering schemes;

    52.  Notes, with concern, North Macedonia’s partial alignment with the EU acquis in the fight against organised crime; reiterates its call for further alignment with the EU acquis and for systematic financial investigations, stepping up the freezing, confiscation, management and disposal of illegally acquired assets;

    53.  Calls for a thorough and transparent investigation of the Kočani nightclub fire on 16 March 2025, to bring to justice the persons responsible, and also for the legislation to be updated and thoroughly implemented to prevent similar tragedies and ensure better public safety and regulatory compliance to protect citizens;

    54.  Calls for the swift implementation of the ongoing reforms in the security and intelligence sectors, and for the independence of security and intelligence bodies to be strengthened through the establishment of appropriate regulatory frameworks, while also enhancing democratic oversight mechanisms; notes, with concern, that the National Security Agency is still located on the premises of the Ministry of Internal Affairs, calling into question its status as an independent state administration body;

    55.  Commends North Macedonia’s strong determination to counter hybrid threats; welcomes the government’s initiative to create a national strategic framework to counter disinformation as well as the adoption of the national cybersecurity strategy 2025-2028; calls for further efforts to build resilience against foreign interference and information manipulation; underlines the need to work on a national strategy to build resilience against disinformation as a security threat to the state, including through enhanced cybersecurity measures and strategic communication as well as education and media literacy; calls for the full operationalisation of EU mechanisms, such as the rapid alert system, to detect malign foreign influence in real time during key democratic processes, including elections;

    56.  Is deeply concerned that North Macedonia and other EU accession countries in the Western Balkans are being particularly hard hit by foreign interference and disinformation campaigns, including hybrid threats, strategic corruption, opaque financial flows and coercive investment practices, notably originating in Russia and China; is alarmed by the roles of the Hungarian and Serbian Governments in advancing China’s and Russia’s geopolitical objectives; notes, in this context, the risk of dependence on China caused by asymmetrical loan agreements, as well as the recent loan from the Hungarian bank Eximbank, which appears to be sourced from China;

    Socio-economic reforms

    57.  Recommends that North Macedonia continue to pursue steps to improve the business climate and infrastructure, strengthen education and digital infrastructure, and enhance social protection systems and their connection to employment initiatives; welcomes the inclusion of human capital-related reforms in the Growth Plan Reform Agenda and calls on North Macedonia to dedicate sufficient effort to implementing these reforms to achieve sustainable results in the development of human capital for children and young people, as the foundation of resilient societies and sustainable growth;

    58.  Welcomes the adoption of the Reform Agenda and the multiannual work programme under the Reform and Growth Facility for North Macedonia, which will provide support for small and medium-sized enterprises, cut red tape and digitalise the public system, and welcomes the steps provided for in the Reform Agenda regarding the digital infrastructure roll-out and the new Law on Electronic Communications, aligning the national legislation with the relevant EU acquis and keeping up with the digital transition worldwide;

    59.  Encourages labour market activation strategies for young people, the long-term unemployed, and low-skilled individuals, as well as for women, persons with disabilities and Roma, and calls for these measures to be properly evaluated; takes note of the long-term improvement in unemployment rates, notes, however, that this must be accompanied by a rise in real wages, the improvement of working conditions and the protection of workers’ rights, including trade union rights; calls for the full implementation of the Law on the Peaceful Settlement of Labour Disputes;

    60.  Encourages North Macedonia to advance its digital transformation, particularly by improving the digital skills of all citizens and by providing online access to public services; recognises the demographic challenges faced by North Macedonia, including population decline, the emigration of young professionals, and an ageing workforce, and underlines the need to address the brain drain, especially in the medical, technological and educational fields; calls for the implementation of targeted policies to reverse the brain drain, enhance family-friendly social policies and attract return migration; encourages cooperation with the EU on demographic resilience strategies, including labour market incentives, housing support for young families, and investment in education and skills development to align with future job market needs; calls for increased support for innovation and competitiveness;

    61.  Welcomes the positive effects of the Youth Guarantee on the reduction of youth unemployment; calls on North Macedonia to intensify its efforts to reduce the unemployment rate of young people aged between 15 and 24, which remains high at 29.3 %; underlines the need to address social challenges, ensure quality employment policies, foster upward social cohesion and convergence towards EU standards and support progress on the principles of the European Pillar of Social Rights;

    62.  Welcomes the efforts to amend the labour law; urges full alignment of the Law on Working Relations with EU directives to effectively guarantee the right to equal pay for equal work, ensure pay transparency and enhance protection against discrimination based on pregnancy and maternity; insists on the need to strengthen the competencies and capacities of the State Labour Inspectorate to ensure effective protection of workers’ rights, including safeguards against labour discrimination;

    63.  Commends North Macedonia for joining the single euro payments area (SEPA), recognising this as an important step toward deeper financial integration with the European market and the facilitation of faster, more efficient cross-border transactions; urges North Macedonia to introduce structural reforms to strengthen the economy and secure the country’s debt sustainability;

    64.  Welcomes the calls for the prompt integration of all of the Western Balkans into the EU’s digital single market at the earliest opportunity, which would crucially benefit the creation of a digitally safe environment;

    65.  Urges the authorities to fully implement existing legal provisions to ensure access to primary healthcare services, with a particular focus on sexual and reproductive health for women, mothers and children, and eliminate barriers related to geography, finances or other hardships; calls for targeted measures to support vulnerable groups of women in accessing healthcare, including Roma women, rural women and those living in poverty;

    66.  Welcomes the progress made in the implementation of the Strategy for Inclusion of Roma 2022-2030; regrets, however, that the strategy lacks a clear approach to participation, empowerment and capacity building; calls on the authorities to implement the respective action plans, ensuring proper monitoring and meaningful and transparent participation of civil society organisations, notably from the Roma community;

    Environment, biodiversity, energy and transport

    67.  Welcomes the adoption of the Energy Law in 2025 and underscores its importance for guaranteeing a safe, secure and high-quality supply of energy as well as for creating an efficient, competitive and financially sustainable energy sector; encourages the authorities to continue on this ambitious path and recalls that additional efforts are needed to fully meet the targets for energy efficiency, renewable energy, security of supply and emissions reductions; urges the country’s authorities to align their environment and climate change legislation with the EU acquis and to ensure its enforcement; notes, with concern, the lack of progress on climate action and the pending adoption of key legislation; stresses the need to integrate gender equality and social inclusion into climate action planning so that women, low-income households and marginalised communities are actively consulted and benefit equitably from the transition;

    68.  Welcomes the European Investment Bank’s continued financial and technical support in North Macedonia, including strategic infrastructure projects such as the Rail Corridors VIII and X, the Skopje wastewater treatment plant, and municipal water infrastructure development; calls for an inclusive and just transition which protects the socially vulnerable, by mobilising public and private financing for the green transition, fully operationalising dedicated funding mechanisms and leveraging EU and international support; stresses the need to address the problems of a lack of specialised staff and weak institutional and administrative capacity, which undermine quality control and the adequate performance of environmental impact assessments;

    69.  Notes, with concern, that air and water quality and wastewater management remain particularly challenging issues for the country; urges the central government and local authorities to step up their efforts in order to improve air quality and reduce potentially lethal pollution; recalls that the situation is particularly alarming in Skopje, which has consistently been one of the most polluted cities in Europe;

    70.  Recognises North Macedonia’s great potential as a regional hub with regard to the use of renewable energy sources; urges North Macedonia to fully align its environmental impact assessment with the EU acquis, with a particular focus on secondary legislation concerning small hydropower projects;

    71.  Stresses the urgent need to prioritise environmental protection; strongly urges the authorities to adopt the necessary legislation and to step up measures on biodiversity, water, air and climate action, and regional waste management, including through comprehensive impact assessments, rigorous prosecution of environmental crime and proper public consultation that allows for the meaningful and transparent involvement of local communities, NGOs and scientific institutions;

    72.  Calls on North Macedonia to establish legal protections for Emerald Sites designated under the Convention on the Conservation of European Wildlife and Natural Habitats (the Bern Convention) to safeguard them from environmentally harmful projects; encourages the country to expand its protected areas, with a view to fulfilling the Kunming-Montreal Global Biodiversity Framework targets; reiterates the urgent need to adopt the law on the re-proclamation of Mavrovo National Park to ensure the continuation and completion of its essential conservation efforts; encourages North Macedonia to include Jablanica on its list of protected areas, thus ensuring the conservation of habitats that are critical to the survival of species;

    73.  Encourages the authorities of North Macedonia to implement stricter protection and management strategies for the habitats of endangered species, as well as for the species themselves, particularly the Balkan lynx, including rigorous enforcement of laws against wildlife crimes, specifically illegal killing and poaching, to safeguard biodiversity;

    74.  Welcomes North Macedonia’s continued cooperation with Kosovo and Albania regarding the transboundary Sharr Mountains National Park; encourages North Macedonia to intensify and speed up collaborative efforts with its neighbouring countries to designate transboundary protected areas and establish coherent transboundary management plans;

    75.  Stresses the need to tackle financial challenges faced by national parks to improve various aspects, including human resources and overall management, with the aim of strengthening their role in biodiversity conservation, providing recreational opportunities and supporting local economies;

    76.  Welcomes the progress made in the construction of Corridors VIII and X of the Trans-European Transport Network (TEN-T) and commends the completion of the Kriva Palanka–Dlabochica–Stracin expressway; urges, however, the authorities of North Macedonia to step up their efforts to prioritise sustainable transport and upgrade energy infrastructure work towards integration in European networks and regional connectivity as well as to address persistent delays in the development of critical infrastructure, including through bilateral negotiations; calls on the Commission to assist in these efforts where needed;

    77.  Calls for additional efforts to accelerate progress on all priority sections of the core network for both rail and road, including by increasing the number of border crossings wherever possible; notes the strategic importance of Corridor VIII for the EU’s and NATO’s geostrategic autonomy, serving as a key logistics route along NATO’s southern flank;

    Regional cooperation and foreign policy

    78.  Welcomes North Macedonia’s valuable and significant contributions to regional cooperation and stability via its engagement in regional economic and diplomatic initiatives such as the Berlin Process, the Growth Plan for the Western Balkans, and the implementation of common regional market agreements, underlining the importance of their inclusiveness;

    79.  Welcomes the country’s commitment to nurturing good neighbourly relations and acknowledges its role as a model for the peaceful resolution of bilateral disputes through dialogue and mutual understanding; emphasises, in this regard, the importance of full implementation of international agreements with tangible results in good faith by all sides, including the Prespa Agreement with Greece and the Treaty of friendship, good neighbourliness and cooperation with Bulgaria; calls for consistent commitment to dialogue and cooperation with neighbouring countries to strengthen regional stability and foster mutual trust; calls for the further promotion of people-to-people contacts across south-eastern Europe;

    80.  Expresses concern about the so-called ‘Serbian world’ project and that some representatives of the Government of North Macedonia have been advocating and promoting this concept; condemns the participation in meetings that attempt to establish a sphere of influence undermining the sovereignty of other countries and the stability of the region;

    81.  Recalls the need to open up Yugoslav secret service archives (UDBA and KOS), kept in both North Macedonia and Serbia; emphasises the need to open these archives region-wide to deal with the totalitarian past in a transparent way, with a view to strengthening democracy, accountability and institutions in the Western Balkans;

    82.  Welcomes North Macedonia’s continued commitment to Euro-Atlantic security; commends North Macedonia’s active role in the OSCE, in particular its chairmanship of the OSCE in 2023 in a complex geopolitical environment, and substantial contributions to EU crisis management missions and military operations; commends the country’s alignment with the EU’s foreign, security and defence policy, including its clear-cut response to Russia’s war of aggression in Ukraine by aligning with the EU’s restrictive measures against Russia and Belarus and providing support to Ukraine; welcomes the signing of a security and defence partnership with the EU in 2024;

    83.  Regrets, however, that North Macedonia, was the only country in the Western Balkans to abstain on the European resolution on Ukraine in the UN General Assembly in February 2025 and instead co-sponsored the US resolution, alongside countries such as Georgia and Hungary, representing a negative signal regarding North Macedonia’s alignment with the EU’s common foreign and security policy and with the collective European commitment to upholding peace, international law and democratic principles;

    84.  Acknowledges North Macedonia’s NATO membership as a significant geostrategic contribution to regional security and Euro-Atlantic stability, including through the country’s active participation in NATO missions and operations and its strategic role in fostering peace and cooperation in the Western Balkans, as well as through the ongoing modernisation of its armed forces and reforms in the fields of crisis management, critical infrastructure and cyber defence; highlights the fact that NATO membership strengthens North Macedonia’s defence capabilities, enhances security coordination with EU and NATO allies, and serves as a deterrent against external destabilisation efforts; encourages North Macedonia to deepen cooperation with the EU and NATO on countering hybrid threats, including through cybersecurity coordination, joint disinformation tracking and resilience-building, and to pursue its efforts to deter external destabilisation attempts; encourages North Macedonia to continue its investment in defence modernisation and alignment with NATO strategic priorities in order to further solidify its role as a reliable security partner;

    85.  Welcomes the agreement concluded at the EU-Western Balkans summit in Tirana on reduced roaming costs; calls, in this respect, on the authorities, private actors and all stakeholders to facilitate achieving the agreed targets of a substantial reduction of data roaming charges between the Western Balkans and the EU and further reductions leading to prices close to the domestic prices by 2027; welcomes the entering into force of the first phase of implementation of the roadmap for roaming between the Western Balkans and the EU;

    o
    o   o

    86.  Instructs its President to forward this resolution to the President of the European Council, the Council, the Commission, the Vice-President of the Commission / High Representative of the Union for Foreign Affairs and Security Policy, the governments and parliaments of the Member States, and the President, Government and Assembly of the Republic of North Macedonia.

    (1) OJ L 84, 20.3.2004, p. 13, ELI: http://data.europa.eu/eli/agree_internation/2004/239(2)/oj.
    (2) OJ L 330, 20.9.2021, p. 1, ELI: http://data.europa.eu/eli/reg/2021/1529/oj.
    (3) OJ L, 2024/1449, 24.5.2024, ELI: http://data.europa.eu/eli/reg/2024/1449/oj.
    (4) OJ C 202, 28.5.2021, p. 86.
    (5) Regulation (EU) 2024/1083 of the European Parliament and of the Council of 11 April 2024 establishing a common framework for media services in the internal market and amending Directive 2010/13/EU (European Media Freedom Act) (OJ L, 2024/1083, 17.4.2024, ELI: http://data.europa.eu/eli/reg/2024/1083/oj).
    (6) Directive (EU) 2024/1069 of the European Parliament and of the Council of 11 April 2024 on protecting persons who engage in public participation from manifestly unfounded claims or abusive court proceedings (‘Strategic lawsuits against public participation’) (OJ L, 2024/1069, 16.4.2024, ELI: http://data.europa.eu/eli/dir/2024/1069/oj).

    MIL OSI Europe News

  • MIL-OSI: Ripple’s XRP Enters AI Mining Era with PFMCrypto Launches Zero-Hardware XRP Cloud Mining with Daily Rewards

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, July 11, 2025 (GLOBE NEWSWIRE) — As Ripple’s XRP ecosystem gains global momentum, PFMCrypto is proud to introduce a major leap in accessible crypto mining: the launch of XRP-focused cloud mining contracts. Now available on both web and mobile platforms, these flexible short-term contracts allow users to mine XRP remotely and receive daily XRP rewards—no mining hardware, no complex setup, and no prior experience required. For the first time, retail participants can engage with the XRP economy through a streamlined, fully integrated platform.

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    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks. There is a possibility of financial loss. You are advised to perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    The MIL Network

  • MIL-OSI: Ripple’s XRP Enters AI Mining Era with PFMCrypto Launches Zero-Hardware XRP Cloud Mining with Daily Rewards

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, July 11, 2025 (GLOBE NEWSWIRE) — As Ripple’s XRP ecosystem gains global momentum, PFMCrypto is proud to introduce a major leap in accessible crypto mining: the launch of XRP-focused cloud mining contracts. Now available on both web and mobile platforms, these flexible short-term contracts allow users to mine XRP remotely and receive daily XRP rewards—no mining hardware, no complex setup, and no prior experience required. For the first time, retail participants can engage with the XRP economy through a streamlined, fully integrated platform.

    Explore the PFMCrypto website or download the app today.

    XRP Cloud Mining Is Here—Simple, Smart, and Rewarding

    Traditionally known for its role in cross-border payments and institutional finance, XRP now enters a new chapter with PFMCrypto’s latest innovation: easy-to-use cloud mining. Users can mine XRP directly or leverage PFMCrypto’s intelligent AI engine to automatically switch between the most profitable assets—including BTC, ETH, DOGE, USDC, and more—for optimized returns. All earnings are paid out daily in your chosen cryptocurrency, providing reliable income regardless of market fluctuations.

    Designed for both everyday users and professional investors, this platform empowers users to generate consistent crypto earnings from anywhere, at any time.

    Key Features of PFMCrypto’s XRP Cloud Mining Contracts

    –  Full XRP Integration: Deposit, purchase, mine, and withdraw XRP directly within the platform.

    –  Multi-Coin Mining Support: Mine and receive earnings in BTC, ETH, DOGE, USDC, USDT, SOL, LTC, and BCH.

    –  AI Revenue Optimization: Proprietary algorithms automatically allocate mining power to the top-performing assets to maximize returns.

    –  100% Remote Access: No mining equipment needed—fully accessible via the PFMCrypto mobile app or browser.

    –  Capital Protection: All contracts include full principal return upon maturity, reducing risk while growing crypto assets.

    Mining Contracts for Every Budget and Strategy:

    PFMCrypto offers a broad range of mining contracts that support XRP-based deposits and withdrawals. Each contract is crafted for flexibility, predictable income, and effective risk management:

    $10 Contract – 1 Day – Earn $0.66 (Free with signup bonus)

    $100 Contract – 2 Days – Earn $3.00 daily + $2 reward

    $500 Contract – 5 Days – Earn $6.15 daily

    $5,000 Contract – 30 Days – Earn $78.50 daily

    $20,000 Contract – 45 Days – Earn $380.00 daily

    Whether you’re testing the waters or building a long-term portfolio, PFMCrypto provides low-risk, high-transparency contracts that deliver stable daily income in XRP.

    Click here to explore more XRP cloud contracts.

    Why PFMCrypto’s XRP Mining Stands Out?

    –  Accessible to Everyone: No mining rigs, no setup, no complexity—just tap and earn.

    –  XRP-Native Integration: Deposit, mine, and withdraw XRP in one seamless ecosystem.

    –  Stable Returns, Smart Allocation: An AI-powered engine dynamically adjusts mining strategies to maximize rewards and ensure daily income across all supported coins.

    –  Multi-Asset Flexibility: Mine XRP directly or diversify earnings into other top digital assets—all with one contract.

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    Get Started Today in 3 Easy Steps:

    1. Sign Up – Create your account and receive a $10 welcome bonus
    2. Choose a Plan – Select a short- or long-term contract (1–60 days available)
    3. Start Earning – Track daily profits and withdraw in the token of your choice

    Start mining XRP now at: https://pfmcrypto.net 

    Or download the PFMCrypto mobile app (available for iOS & Android).

    XRP Mining for a Digital Future

    Since 2018, PFMCrypto has helped millions of users around the world generate passive crypto income through secure, smart, cloud-based mining. With the introduction of XRP mining, the platform offers the ideal combination of institutional-grade infrastructure and retail accessibility. Now, users can choose to earn directly in XRP or diversify into major digital assets—all within a secure, fully remote environment.

    “XRP has always been fast, efficient, and scalable,” said a PFMCrypto spokesperson. “Now, it’s also mineable—securely, remotely, and profitably. We’ve eliminated the barriers so anyone can participate in XRP’s future growth.”

    Markets may shift—but daily mining income can remain steady.

    Join the XRP mining revolution today at: https://pfmcrypto.net 

    Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks. There is a possibility of financial loss. You are advised to perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

    The MIL Network

  • MIL-OSI USA: Rep. Scholten Secures Nearly $2.4 Million for Critical Upgrades at Gerald R. Ford International Airport

    Source: United States House of Representatives – Congresswoman Hillary Scholten – Michigan

    GRAND RAPIDS, MI — Today, U.S. Representative Hillary Scholten (MI-03) announced that the Gerald R. Ford International Airport Authority (GRR) will receive $2,386,331 through the Federal Aviation Administration’s Airport Improvement Program (AIP). The grant will support key infrastructure improvements at the airport, ensuring safer, more efficient operations and long-term growth.

    “Gerald R. Ford International is a critical economic engine and a gateway to West Michigan. I’m proud to secure nearly $2.4 million to improve airport safety, extend the life of essential infrastructure, and help GRR keep pace with growing demand,” said Rep. Scholten. “These upgrades will help ensure GRR continues to operate safely and efficiently for years to come. I’ll keep fighting to bring more resources like this home to help West Michigan grow and thrive.”

    “We are incredibly grateful to Congresswoman Scholten and the Federal Aviation Administration for their continued support of the Gerald R. Ford International Airport and the West Michigan region,” said Tory Richardson, President and CEO of the Gerald R. Ford International Airport Authority. “This funding allows us to move forward with critical infrastructure projects that will enhance safety, improve efficiency, and support future growth. These investments help ensure we continue to deliver a world-class airport experience to our passengers, partners, and community.”

    Specifically, the grant will support Phase 1 design work for several infrastructure upgrades aimed at improving safety, extending the life of existing facilities, and increasing airport capacity to meet growing regional demand. The funding goes towards the rehabilitation of Taxiway V, which serves a vital role as a primary connection between the terminal apron and the airfield for commercial aircraft. Partial rehabilitation of the Taxiway will extend the useful life at least ten years while preserving the pavement for continued safe and efficient operations. 

    The grant also includes the full reconstruction of Taxiway D lighting, which will ensure reliability in operating the airport in a safe and efficient manner. Additionally, the grant will fund the extension of Taxiway L to accommodate more based aircraft, a move that will enhance operational efficiency and allow for future growth. GRR is currently at capacity for available airside development sites, and the construction of Taxilane L will allow for additional hangar developments. 

    As a member of the House Transportation and Infrastructure Committee, Scholten is committed to bringing federal investment back to Michigan’s Third Congressional District and strengthening the region’s transportation infrastructure. Scholten secured $15,017,605 in total funding for GRR in the FY24- 25 fiscal year. This grant was awarded by the U.S. Department of Transportation (DOT) and will be administered by the Federal Aviation Administration (FAA).

    ###

    MIL OSI USA News

  • MIL-OSI USA: Fischer Strengthens Nuclear Deterrence, Protects Defense Spectrum in FY 2026 NDAA

    US Senate News:

    Source: United States Senator for Nebraska Deb Fischer

    U.S. Senator Deb Fischer (R-Neb.), a senior member of the Senate Armed Services Committee (SASC) and chair of the Strategic Forces Subcommittee, secured key provisions aimed at improving service member quality of life, strengthening America’s nuclear deterrent, and protecting defense spectrum in the Senate’s Fiscal Year (FY) 2026 National Defense Authorization Act (NDAA). The legislation passed out of the committee on Wednesday and now awaits consideration on the Senate floor.

    “During this time of global unrest – where we see Iran edging closer to obtaining a nuclear weapon, China accelerating its military buildup in the Indo-Pacific, and Russia continuing its war against Ukraine – it is more important than ever that we invest in our service members, protect defense spectrum, drive innovation, and strengthen our missile defense systems. I’m proud the FY 2026 NDAA meets this moment with key provisions I pushed for to modernize our nuclear deterrent and strengthen our national defense,” Fischer said.

    Key Provisions Secured by Fischer in the FY 2026 NDAA:

    Taking Care of Our Service Members:

    • Authorizing $19 million above the president’s budget request for the Defense POW/MIA Accounting Agency (DPAA), which has the sacred mission of recovering and identifying the remains of fallen servicemembers from past conflicts.
    • Exploring Public-Private Healthcare Construction: Directs DoD to assess the feasibility of a program modeled after Fischer’s CHIP IN For Veterans Act, enabling local communities to contribute to DoD healthcare facility development.
    • Expanding DPAA Overseas Recovery Tools: Authorizes the DPAA to procure foreign goods and services to support recovery missions abroad.
    • Reforming Facilities Sustainment, Restoration, and Modernization (FSRM): Authorizes FSRM funding for three years instead of one, supporting more responsible and cost-effective execution of complex maintenance and modernization projects.

    Modernizing Our Nuclear Deterrent:

    • Upgrading NNSA Infrastructure: Establishes an annual independent assessment of the National Nuclear Security Administration (NNSA)’s progress toward infrastructure modernization goals outlined in the Enterprise Blueprint.
    • Expanding Combatant Command Innovation Authority: Extends experimentation and prototyping authority to all combatant commands, including U.S. Strategic Command (STRATCOM).
    • Requiring Sentinel Program Progress: Requires the Sentinel intercontinental ballistic missile (ICBM) program to begin being fielded by Sept. 30, 2033.
    • Preserving ICBM Force Structure: Makes permanent the requirement to deploy at least 400 ICBMs across no fewer than 450 launch facilities.
    • Accelerating SLCM Capability: Accelerates the Nuclear Sea-Launch Cruise Missile (SLCM-N) program by two years.
    • Improving Safety of Launch Facilities: Codifies a requirement for deep cleaning of ICBM launch control centers every five years.
    • Accounting for Air and Missile Defense Needs: Includes air and missile defense interceptors in the Department of Defense’s (DoD) unconstrained total munitions requirements list.
    • Sustaining MMIII Operations: Directs a briefing on Air Force Global Strike Command (AFGSC) plans to sustain Minuteman III (MMIII) until Sentinel is emplaced.
    • Creating NNSA Rapid Capabilities Office: Establishes an Office of Rapid Capabilities Development within NNSA to accelerate innovation and deployment.
    • Assessing Heavy Launch Site Viability: Directs a DoD study on the capacity and sustainability of heavy and super heavy launch sites at Cape Canaveral and Vandenberg, and on potential alternative locations.
    • Authorizing over $4 billion in investments to the Sentinel program.
    • Authorizing $186 million for the NNSA to develop the SLCM-N warhead.
    • Authorizing $320 million for Navy to develop the SLCM.

    Protecting Defense Spectrum:

    • Safeguarding the Pentagon’s Spectrum: Prohibits any modifications to DoD systems in key spectrum bands without joint certification from the Secretary of Defense and Chairman of the Joint Chiefs of Staff.
    • Designating STRATCOM as Lead for Spectrum Testing: Designates STRATCOM’s Joint Electromagnetic Spectrum Operations (JEMSO) office as the lead entity for coordinating testing and evaluation of joint employment of Dynamic Spectrum Sharing (DSS) technologies.

    Enhancing Strategic Preparedness:

    • Reviewing NDMS Pilot Implementation: Requires a briefing on the progress of the National Disaster Medical System (NDMS) pilot program, as established in previous NDAAs.
    • Modernizing 557th Weather Wing Capabilities: Directs a report on the 557th Weather Wing’s cloud migration, AI readiness, and infrastructure modernization roadmap.
    • Clarifying Weather Wing Support for the Intelligence Community: Codifies the Weather Wing’s authorities to provide meteorological and environmental services to the Intelligence Community.

    Divesting From Our Adversaries:

    • Blocking CCP-Linked Entertainment Funding: Prohibits funding for entertainment projects with ties to the Chinese Communist Party or government of China.

    MIL OSI USA News

  • MIL-OSI: Hyperscale Data Announces 36 Consecutive Months of Cash Dividend Payments Timely Paid for Series D Cumulative Redeemable Perpetual Preferred Stock

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, July 11, 2025 (GLOBE NEWSWIRE) — Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), today announced that it has successfully paid 36 consecutive monthly cash dividends for its 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock (the “Series D Preferred Stock”). Dividends on the Series D Preferred Stock are cumulative and are payable out of amounts legally available therefor at a rate equal to 13.00% per annum per $25.00 of stated liquidation preference per share, or $0.2708333 per share of Series D Preferred Stock per month.

    Milton “Todd” Ault III, Founder and Executive Chairman of the Company, stated, “We are very proud of the Company’s track record relating to the Series D Preferred Stock and recognize that reaching the three year mark is monumental. We want to emphasize to our stockholders that the Company remains committed to the long term nature of the monthly dividend.”

    For more information on Hyperscale Data and its subsidiaries, Hyperscale Data recommends that stockholders, investors and any other interested parties read Hyperscale Data’s public filings and press releases available under the Investor Relations section at hyperscaledata.com or available at www.sec.gov.

    About Hyperscale Data, Inc.

    Through its wholly owned subsidiary Sentinum, Inc., Hyperscale Data owns and operates a data center at which it mines digital assets and offers colocation and hosting services for the emerging artificial intelligence (“AI”) ecosystems and other industries. Hyperscale Data’s other wholly owned subsidiary, Ault Capital Group, Inc. (“ACG”), is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact.

    Hyperscale Data expects to divest itself of ACG on or about December 31, 2025 (the “Divestiture”). Upon the occurrence of the Divestiture, the Company would solely be an owner and operator of data centers to support high-performance computing services, though it may at that time continue to mine Bitcoin. Until the Divestiture occurs, the Company will continue to provide, through ACG and its wholly and majority-owned subsidiaries and strategic investments, mission-critical products that support a diverse range of industries, including an AI software platform, social gaming platform, equipment rental services, defense/aerospace, industrial, automotive, medical/biopharma and hotel operations. In addition, ACG is actively engaged in private credit and structured finance through a licensed lending subsidiary. Hyperscale Data’s headquarters are located at 11411 Southern Highlands Parkway, Suite 190, Las Vegas, NV 89141.

    On December 23, 2024, the Company issued one million (1,000,000) shares of a newly designated Series F Exchangeable Preferred Stock (the “Series F Preferred Stock”) to all common stockholders and holders of the Series C Convertible Preferred Stock on an as-converted basis. The Divestiture will occur through the voluntary exchange of the Series F Preferred Stock for shares of Class A Common Stock and Class B Common Stock of ACG (collectively, the “ACG Shares”). The Company reminds its stockholders that only those holders of the Series F Preferred Stock who agree to surrender such shares, and do not properly withdraw such surrender, in the exchange offer through which the Divestiture will occur, will be entitled to receive the ACG Shares and consequently be stockholders of ACG upon the occurrence of the Divestiture.

    Forward-Looking Statements

    This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

    Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at hyperscaledata.com.

    Hyperscale Data Investor Contact:
    IR@hyperscaledata.com or 1-888-753-2235

    The MIL Network