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Category: Taxation

  • MIL-OSI United Kingdom: Company behind London art galleries which claimed to sell works by Banksy and Andy Warhol is shut down

    Source: United Kingdom – Executive Government & Departments

    Press release

    Company behind London art galleries which claimed to sell works by Banksy and Andy Warhol is shut down

    The company has been wound-up following a hearing at the High Court

    • Artwork Holdings Ltd, formerly Yield Gallery Limited, described itself as “contemporary art specialists offering the purchase and investment of artwork to the public” 

    • Insolvency Service investigations into the company found conflicting accounts as to whether it was trading, inaccurate accounts, and a suspected under-payment of VAT and corporation tax 

    • The company has been shut down by the High Court, with the Official Receiver appointed as liquidator

    A company with two London art galleries which marketed itself as selling works by famous artists such as Banksy, Andy Warhol and Tracey Emin has been shut down. 

    Artwork Holdings Ltd traded under the banner of Yield Gallery, which described itself as an internationally established “reputable and respected” contemporary and modern art gallery with two locations in London. 

    The business said it specialised in sourcing the rarest works by Banksy and Canadian street artist Richard Hambleton, offering collectors and investors the chance to own “original works from the artists”. 

    However, Insolvency Service investigations into Artwork Holdings were met with a lack of clarity over the company’s trading status, unreliable accounts, and a failure from the directors to adequately co-operate. 

    Artwork Holdings opposed the proceedings and asked the court to dismiss the winding-up petition presented by the Insolvency Service.  

    However, the company was wound-up at a hearing of the High Court in London on Monday 12 May. 

    Edna Okhiria, Chief Investigator at the Insolvency Service, said: 

    Our investigations into Artwork Holdings Ltd found several matters of concern. The company claimed to have ceased trading three years ago, but our investigators uncovered substantial evidence directly contradicting that account. Indeed, the company only changed its name to Artwork Holdings in November 2024.  

    Unreliable and inconsistent accounts were uncovered which did not provide a fair representation of the company’s business. The company and its director also failed to sufficiently co-operate with our investigations. 

    The public rightly expects companies to operate with transparency, file their tax returns, and comply with investigations by law enforcement. Artwork Holdings failed to do this and these matters of concern will now be investigated during the course of the company’s liquidation.

    Yield Gallery was founded in 2019 with a gallery based on Royal Parade, Blackheath, in south-east London. A second space, which the company said was the largest Richard Hambleton gallery in the world, opened on Eastcastle Street in Fitzrovia in June 2024. 

    Insolvency Service investigations into Artwork Holdings began in October 2023, with the company named Yield Gallery Limited at that point. The company had earlier traded under a different name, Yield for You Ltd. 

    Solicitors acting on behalf of the company told investigators that it had ceased trading over a period time, rather than at a particular point as is usually the case. No dates were provided, other than vague statements that it was either in late 2021 or early 2022. 

    A new company, YG Group Ltd, was alleged to have taken over the company’s business and trading activities. 

    But information obtained by the Insolvency Service directly contradicted this, with Yield Gallery’s website referencing the company’s full name on its contact page up until April 2024. 

    A rental agreement for one of Yield Gallery’s former locations was also signed by one of the directors in August 2022, more than six months after it claimed to have stopped trading. 

    Similarly, it advertised an exhibition in Soho in the autumn of 2023, with the licence agreement for the location giving the company name as Yield Gallery and the company number of Artwork Holdings. 

    Several Yield Gallery clients contacted by the Insolvency Service also said they had not been informed the company had ceased trading and that the business had been transferred to YG Group. 

    These issues were not disputed by the company’s active director, who blamed “lax administration”, a “lack of diligence” and “carelessness on my part” for the errors. 

    Inaccurate and unreliable accounts were also discovered during the investigations. 

    Investigators found payments from 64 customers totalling just over £2 million paid into two of the company’s bank accounts between December 2020 and April 2022. 

    But sales for that period were more than £4.2 million, suggesting more than half the company’s revenue did not pass through its bank account. 

    Investigators also found that a £50,000 Covid Bounce Back Loan had been secured by the company in June 2020. From the accounts seen by the Insolvency Service, it was not entitled to this government-backed loan as its turnover in 2019 was zero, not the £200,000 it needed to be to secure the funds. 

    The director claimed that the company was entitled to the Bounce Back Loan and that its accounts were wrong. 

    However, in response to questions from investigators who found that the company appeared to owe more than £100,000 in corporation tax, he said he was “unable to comment on the accuracy of the accounts”. 

    No evidence was provided by Artwork Holdings that it had declared and paid the corporation tax due on its trading. 

    Artwork Holdings was also not registered with HM Revenue and Customs as an art market participant which it was required to do to avoid falling foul of money laundering regulations. 

    Concerns were also identified that the company had not paid the appropriate amount of VAT. 

    The Official Receiver has been appointed as liquidator of Artwork Holdings Ltd. 

    All enquiries concerning the affairs of the company should be made to the Official Receiver of the Public Interest Unit: 16th Floor, 1 Westfield Avenue, Stratford, London, E20 1HZ. Email: piu.or@insolvency.gov.uk. 

    Based on the available evidence provided to the Insolvency Service, there is no indication that any of the artists named above had any direct relationship with the company.

    Further information

    • Artwork Holdings Ltd (company number 12067319) 

    • The Insolvency Service can investigate complaints about corporate abuse by live companies. This may include serious misconduct, fraud, scams or dishonest practice in the way the company operates. Further information on our live investigations can be found here 

    • Further information about the work of the Insolvency Service, and how to complain about financial misconduct, is available here.

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    Updates to this page

    Published 12 May 2025

    MIL OSI United Kingdom –

    May 13, 2025

  • MIL-OSI: Nokia delivers advanced tactical private wireless solutions to Marine Corps Tactical Systems Support Activity (MCTSSA)

    Source: GlobeNewswire (MIL-OSI)

    Press Release
    Nokia delivers advanced tactical private wireless solutions to Marine Corps Tactical Systems Support Activity (MCTSSA)

    • Enhanced battlefield connectivity with Nokia Banshee tactical private wireless solutions
    • Supporting Marine Corps modernization efforts with resilient, high-speed communications
    • Providing hands-on training for seamless deployment and operational success

    12 May 2025
    Chantilly, Virginia – Nokia today announced that it has delivered its Banshee tactical private wireless solutions to the Marine Corps Tactical Systems Support Activity (MCTSSA), reinforcing the U.S. Marine Corps’ commitment to provide seamless, secure, and resilient communications for tactical operations. This milestone builds upon years of collaboration between Nokia and the Marine Corps in testing and refining next-generation communication capabilities to support critical operational needs.

    In 2023, Nokia and the Marine Corps conducted a two-day proof-of-concept at Marine Corps Air Station Yuma, validating Banshee’s ability to deliver secure, high-capacity tactical communications beyond expectations. That same year, Nokia and MCTSSA partnered at Project Convergence to showcase Banshee’s effectiveness in denied, disrupted, intermittent, and limited (DDIL) environments. These demonstrations reinforced its role in enabling resilient, high-speed connectivity across joint warfighting networks.

    Following these findings, MCTSSA acquired multiple Banshee units in early 2025 for further evaluation and integration into Marine Corps exercises. To support seamless deployment, Nokia provided hands-on training to MCTSSA and other Marine Corps units, covering private wireless network operations, setup, troubleshooting, and live demonstrations of Banshee’s capabilities.

    “Banshee is a game-changer for the warfighter, providing the Marine Corps with a powerful, scalable private wireless solution that meets the demand of modern warfare. We are honored to support MCTSSA and the Marine Corps as they modernize battlefield connectivity while enhancing operational efficiency and resilience,” said Scott Ferguson, Chief Revenue Officer, Nokia Federal Solutions.

    “High bandwidth, low latency transport is critical for sensor-to-shooter integration, enabling real-time data flow from sensors to weapon systems. This ensures precise, timely strikes, maintaining battlefield advantage. Even slight delays can jeopardize missions, making robust connectivity a strategic necessity for lethality and adaptability in modern warfare,” said Capt. Eric Perez, MCTSSA Cyber Network Operation Officer.

    The Nokia Banshee family delivers a high-speed, long-range, and secure tactical communication solution designed for rapid deployment in demanding environments. As a cost-efficient, commercial off-the-shelf (COTS) system, it leverages industry R&D investments to provide a scalable alternative to traditional Marine Corps communications. With its lightweight, easy-to-use design and advanced security, Banshee ensures resilient, mission-critical connectivity while significantly reducing costs, aligning with MCTSSA’s vision for modernizing battlefield communications.

    Multimedia, technical information, and related news
    Web Page: 5G tactical private wireless
    Press release: Nokia launches the 5G Banshee Flex Radio: a revolutionary mobile broadband edge network for modern battlefield communications

    About Nokia
    At Nokia, we create technology that helps the world act together.

    As a B2B technology innovation leader, we are pioneering networks that sense, think and act by leveraging our work across mobile, fixed and cloud networks. In addition, we create value with intellectual property and long-term research, led by the award-winning Nokia Bell Labs, which is celebrating 100 years of innovation.

    With truly open architectures that seamlessly integrate into any ecosystem, our high-performance networks create new opportunities for monetization and scale. Service providers, enterprises and partners worldwide trust Nokia to deliver secure, reliable and sustainable networks today – and work with us to create the digital services and applications of the future.

    Media inquiries
    Nokia Press Office
    Email: Press.Services@nokia.com

    Nokia Federal Services
    Jacqueline Lampert
    Email: media@nokiafederal.com  

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    The MIL Network –

    May 13, 2025

  • MIL-OSI: Enphase Energy Expands in Europe with the IQ Balcony Solar System in Belgium

    Source: GlobeNewswire (MIL-OSI)

    FREMONT, Calif., May 12, 2025 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, today announced the launch of the Enphase® IQ® Balcony Solar System in Belgium. Designed for plug-and-play installation, the new system empowers apartment dwellers and homeowners with limited roof space to generate their own clean energy from balconies, patios, and small outdoor areas. It’s also a simple and affordable solution for fully off-grid use cases, offering reliable daytime power for cabins, camping sites, mobile home setups, and more. The IQ Balcony Solar System includes Enphase IQ8HC™ Microinverters, IQ® Balcony Gateway, and other components. Enphase also recently launched the product in Germany.   

    Balcony solar systems – or “plug-in solar” systems – are rapidly expanding access to clean energy for residents without traditional rooftop space. Belgium legalized balcony solar systems for the first time in April 2025, as the country targets a 40% increase in solar capacity by the end of this year. The Enphase IQ Balcony Solar System will help more people participate in the energy transition, supporting greater energy independence across Europe.

    The IQ Balcony Solar System offers the following key features:

    • Do-it-yourself installation: The system has an easy setup with plug-and-play connectors for self-installation and commissioning through the Enphase® App.
    • Off-grid operation: The system’s IQ Microinverters switch seamlessly between grid-tied and off-grid modes, so connected devices can stay powered during daytime grid outages, or function entirely off-grid when the sun is shining in rural or remote areas where grid power isn’t available.
    • Scalable solution: Homeowners can start with a small system and expand over time using an Enphase expansion kit as energy needs grow. Additional energy from the expansion kit can be harvested using the auxiliary socket.
    • Integrated connectivity: The system offers a simplified setup using Wi-Fi or cellular data, supported by a 5-year data plan for seamless monitoring and updates.
    • Highly reliable: The IQ8HC Microinverters come with an IP67 rating, while the IQ Balcony Gateway has an IP65 rating and a 5-year warranty.

    “We’re seeing a surge in interest from Belgians looking for easy-to-install systems that can help deliver real energy savings,” said Brent Groven, head of renewables procurement at GROEP Alelek, a distributor of Enphase products in Belgium. “The IQ Balcony Solar System makes solar energy available to people in apartments and homes who couldn’t participate before.”

    The standard Enphase IQ Balcony Solar Kit includes two IQ8HC Microinverters, one IQ Balcony Gateway, IQ® Cables, and one AC Power Cable. Retailers can bundle it with solar panels and racking before it is sold. The scalable system can accommodate up to seven IQ8HC Microinverters and panels, enabling the system to evolve with energy needs. System owners can easily install the system on their own and commission it using the Enphase App, which also allows users to monitor and view their energy production.

    “The IQ Balcony Solar System is a simple, powerful, and user-friendly solar balcony solution,” said Wiet Vande Velde, CEO of EnergyKing, an installer of Enphase products in Belgium. “We are excited about its scalability, reliability, and high performance, which we believe will enable more Belgians to achieve energy independence and resilience while reducing their utility costs.”

    “With the launch of the IQ Balcony Solar System in Belgium, we’re continuing to expand how and where people can access clean energy,” said Sabbas Daniel, senior vice president of sales at Enphase Energy. “This is a meaningful step in our broader European growth strategy, and we’re excited to bring more innovative, space-efficient solar solutions to customers across the region.”

    The Enphase IQ Balcony Solar System is available for purchase today on the Enphase website or with select partners. Solar panels, shelves, and mounting hardware are not included in this kit and must be purchased separately. To learn more about Enphase’s IQ Balcony Solar System in Belgium, visit the websites for homeowners (French and Dutch) and installers (French and Dutch).

    About Enphase Energy, Inc.

    Enphase Energy, a global energy technology company based in Fremont, CA, is the world’s leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power – and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 81.5 million microinverters, and approximately 4.8 million Enphase-based systems have been deployed in over 160 countries. For more information, visit https://enphase.com/.

    ©2025 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, IQ8, and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks or service marks of Enphase Energy, Inc. in the U.S. and other countries. Other names are for informational purposes and may be trademarks of their respective owners.

    Forward-Looking Statements

    This press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality, and reliability; the ability of more people to participate in the energy transition; Enphase Energy’s ability to support greater energy independence across Europe; and statements regarding the timing and availability Enphase Energy’s products in Belgium. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties including those risks described in more detail in Enphase Energy’s most recently filed Quarterly Report on Form 10-Q, Annual Report on Form 10-K, and other documents filed by Enphase Energy from time to time with the SEC. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.

    Contact:

    Enphase Energy

    press@enphaseenergy.com

    This press release was published by a CLEAR® Verified individual.

    The MIL Network –

    May 13, 2025

  • MIL-OSI: Inter&Co Inc. Reports Year-Over-Year Net Income Growth of 57%

    Source: GlobeNewswire (MIL-OSI)

    BELO HORIZONTE, Brazil, May 12, 2025 (GLOBE NEWSWIRE) — Inter&Co Inc. (NASDAQ: INTR | B3: INBR32), the leading financial super app providing financial and digital commerce services to 37.7 million customers, today reported financial results for the first quarter of 2025.

    1Q25 Highlights:

    • Total clients grew to 37.7 million, with 21.6 million active clients and an activation rate of 57.2%.
    • Net Income of R$287 million, excluding minority interests, up 57% YoY.
    • Return on Equity of 12.9%, up from 9.2% in 1Q24.
    • Efficiency Ratio continued improving and reached 48.8%, 1.3 p.p. better than 4Q24.
    • NPLs over 90 days improved to 4.1%, 0.8 p.p. lower than 1Q24.

    João Vitor Menin, Global CEO of Inter&Co, commented:

    “Inter, by design, embodies the transformation of the banking industry. From our focus on innovation and efficient digital distribution of financial products and services, to expanding benefits and lowering costs for all our clients, we are building trust and long-term relationships that will be mutually rewarding for years to come.”

    Alexandre Riccio, Brazil CEO of Inter&Co, highlighted the opportunities that lie ahead:

    “We are particularly excited about the engagement with peer-to-peer payments (Pix) in Brazil, the significant uptake of our loyalty program Loop, and the record number of clients using our credit products. The new Private Payroll offering represents a key opportunity for Inter. It aligns perfectly with our business model: digital, low-cost distribution, scalable, and collateralized, with minimal overlap with our other consumer credit products.”

    About the 1Q25 results, he commented that, “Our commitment to cost control has allowed us to further widen the gap between net revenue growth and expenses, achieving an efficiency level of 48.8%. In addition, Inter continues to benefit from a diversified credit model, with improving underwriting resulting in another decrease in NPL ratio to 4.1%.

    “As we enter the third year of the 60/30/30 plan, we are proud that our results reflect the dedication, focus, and effectiveness of our team in implementing our strategy, delivering consistent, resilient growth and profitability.”

    Conference Call
    Inter&Co will discuss its 1Q2025 financial results on May 12th, 2025, at 11 a.m. ET (12 p.m. BRT). The webcast details, along with the earnings materials can be accessed on the company’s Investor Relations website at https://investors.inter.co/en/.

    About Inter
    Inter&Co (NASDAQ: INTR), the company that controls Banco Inter in Brazil and the subsidiary Inter&Co Payments, is the pioneering financial super app serving over 37.7 million customers across the Americas. Inter’s ecosystem offers a broad array of services, including banking, investments, mortgages, credit, insurance, and cross-border payments. The financial super app also boasts a dynamic marketplace, linking consumers with shopping discounts, cashback rewards, and exclusive access to marquee events across the globe. Focused on innovation and captivating member experiences, Inter delivers comprehensive financial and lifestyle solutions to meet the evolving needs of modern consumers.

    Investor Relations:
    Rafaela de Oliveira Vitória – ir@inter.co

    Media Relations: 
    Kaio Philipe – kaio.philipe@inter.co 
    Chemistry Agency – interco@chemistryagency.com 

    Disclaimer
    This report may contain forward-looking statements regarding Inter, anticipated synergies, growth plans, projected results and future strategies. While these forward-looking statements reflect our Management’s good faith beliefs, they involve known and unknown risks and uncertainties that could cause the company’s results or accrued results to differ materially from those anticipated and discussed herein. These statements are not guarantees of future performance. These risks and uncertainties include, but are not limited to, our ability to realize the number of projected synergies and the projected schedule, in addition to economic, competitive, governmental and technological factors affecting Inter, the markets, products and prices and other factors. In addition, this presentation contains managerial figures that may differ from those presented in our financial statements. The calculation methodology for these managerial numbers is presented in Inter’s quarterly earnings release. Statements contained in this report that are not facts or historical information may be forward looking statements under the terms of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may, among other things, beliefs related to the creation of value and any other statements regarding Inter. In some cases, terms such as “estimate”, “project”, “predict”, “plan”, “believe”, “can”, “expectation”, “anticipate”, “intend”, “aimed”, “potential”, “may”, “will/shall” and similar terms, or the negative of these expressions, may identify forward looking statements.

    These forward-looking statements are based on Inter’s expectations and beliefs about future events and involve risks and uncertainties that could cause actual results to differ materially from current ones. Any forward-looking statement made by us in this document is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether because of new information, future developments or otherwise. The definition of each such operational metric is included in the earnings release available on our Investor Relations website.

    For additional information that about factors that may lead to results that are different from our estimates, please refer to sections “Cautionary Statement Concerning Forward Looking Statements” and “Risk Factors” of Inter&Co Annual Report on Form 20-F. The numbers for our key metrics (Unit Economics), which include, among other, active clients and average revenue per active client (ARPAC), are calculated using Inter’s internal data. Although we believe these metrics are based on reasonable estimates, there are challenges inherent in measuring the use of our business. In addition, we continually seek to improve our estimates, which may change due to improvements or changes in methodology, in processes for calculating these metrics and, from time to time, we may discover inaccuracies and adjust to improve accuracy, including adjustments that may result in recalculating our historical metrics.

    About Non-IFRS Financial Measures
    To supplement the financial measures presented in this press release and related conference call, presentation, or webcast in accordance with IFRS, Inter&Co also presents non-IFRS measures of financial performance, as highlighted throughout the documents. The non-IFRS Financial Measures include, among others: Adjusted Net Income, Cost of Funding, Efficiency Ratio, Cost of Risk, Cards+PIX TPV, Gross ARPAC, Global Clients, Total Gross Revenues, and Return on average equity (ROE).

    A “non-IFRS financial measure” refers to a numerical measure of Inter&Co’s historical or financial position that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with IFRS in Inter&Co’s financial statements. Inter&Co provides certain non-IFRS measures as additional information relating to its operating results as a complement to results provided in accordance with IFRS. The non-IFRS financial information presented herein should be considered together with, and not as a substitute for or superior to, the financial information presented in accordance with IFRS. There are significant limitations associated with the use of non-IFRS financial measures. Further, these measures may differ from the non-IFRS information, even where similarly titled, used by other companies and therefore should not be used to compare Inter&Co’s performance to that of other companies.

    The MIL Network –

    May 12, 2025

  • MIL-OSI: Advantage Solutions Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    Supporting clients through a challenging operating environment

    Continuing to make progress on transformation initiatives that will streamline operations

    Management lowers guidance to reflect heightened market uncertainty

    ST. LOUIS, May 12, 2025 (GLOBE NEWSWIRE) — Advantage Solutions Inc. (NASDAQ: ADV) (“Advantage,” “Advantage Solutions,” the “Company,” “we,” or “our”), a leading business solutions provider to consumer goods manufacturers and retailers, today reported financial results for the three months ended March 31, 2025.

    Unless otherwise noted, results presented in this release are from continuing operations, and comparisons are on a prior year basis. Revenues for the three months were $822 million compared with $861 million, and net loss was $56 million compared to a net loss of $50 million.

    Q1 2025 Financial Highlights
    ►   Revenues declined 5% to $822 million. Adjusted EBITDA declined 18% to $58 million.
    ►   The majority of the financial impact was due to intentional client exits and anticipated transformation spending. Labor shortages in some regional pockets and a decline in retail inventory, resulting in lower order volumes, were contributing factors.
    ►   The Company remains focused on disciplined capital allocation with voluntary debt repurchases and share buybacks of approximately $20 million and $1 million, respectively.


    “I am proud of the support we delivered to our clients in the first quarter as our teammates demonstrated a relentless focus during a highly uncertain time,” said Advantage CEO Dave Peacock. “Demand remains healthy in our business across Experiential and Retailer Services, and Branded Services continues to take steps towards greater stability. While we must acknowledge near-term risk from macro-uncertainty as reflected in our updated guidance, I am excited by developments in our new business pipeline and our transformation initiatives, which remain on track to drive efficiency while enhancing growth and cash flow in 2026 and beyond.”

    Consolidated Financial Summary from Continuing Operations
    (amounts in thousands) Three Months Ended March 31,   Change (Reported)
      2025     2024   $   %
    Total Revenues $ 821,792     $ 861,412   $ (39,620)     (4.6 %)
    Total Net Loss $ (56,130)     $ (50,133)   $ (5,997)     12.0 %
    Total Adjusted EBITDA $ 58,181     $ 70,639   $ (12,458)     (17.6 %)
    Adjusted EBITDA Margin   7.1%       8.2%          


    The complete earnings release can be found     here.

    Media Contact: press@youradv.com
    Investor Contact: investorrelations@youradv.com

    Conference Call Details
    Date/Time  May 12, 2025, 8:30 am EDT
    Dial-in 
    (10 minutes before the call)     		 800-267-6316 within the United States or +1-203-518-9783 outside the United States
    Dial-in Code: ADVQ1
    Webcast  Available at: ADV 1Q 2025 Earnings Webcast
    Replay  844-512-2921 within the United States or +1-412-317-6671 outside the United States
    Replay ID: 11158789


    About Advantage Solutions

    Advantage Solutions is the leading omnichannel retail solutions agency in North America, uniquely positioned at the intersection of consumer-packaged goods (CPG) brands and retailers. With its data- and technology-powered services, Advantage leverages its unparalleled insights, expertise and scale to help brands and retailers of all sizes generate demand and get products into the hands of consumers, wherever they shop. Whether it’s creating meaningful moments and experiences in-store and online, optimizing assortment and merchandising, or accelerating e-commerce and digital capabilities, Advantage is the trusted partner that keeps commerce and life moving. Advantage has offices throughout North America and strategic investments and owned operations in select international markets. For more information, please visit YourADV.com.

    Included with this press release are the Company’s consolidated and condensed financial statements as of and for the three months ended March 31, 2025. These financial statements should be read in conjunction with the information contained in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 7, 2025.

    Forward-Looking Statements

    Certain statements in this press release may be considered forward-looking statements within the meaning of the federal securities laws, including statements regarding the expected future performance of Advantage’s business and projected financial results. Forward-looking statements generally relate to future events or Advantage’s future financial or operating performance. These forward-looking statements generally are identified by the words “may”, “should”, “expect”, “intend”, “will”, “would”, “could”, “estimate”, “anticipate”, “believe”, “predict”, “confident”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks, uncertainties and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements.

    These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Advantage and its management at the time of such statements, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to, market-driven wage changes or changes to labor laws or wage or job classification regulations, including minimum wage; future potential pandemics or health epidemics; Advantage’s ability to continue to generate significant operating cash flow; client procurement strategies and consolidation of Advantage’s clients’ industries creating pressure on the nature and pricing of its services; consumer goods manufacturers and retailers reviewing and changing their sales, retail, marketing and technology programs and relationships; Advantage’s ability to successfully develop and maintain relevant omni-channel services for our clients in an evolving industry and to otherwise adapt to significant technological change; Advantage’s ability to maintain proper and effective internal control over financial reporting in the future; Advantage’s substantial indebtedness and our ability to refinance at favorable rates; and other risks and uncertainties set forth in the section titled “Risk Factors” in the Annual Report on Form 10-K filed by the Company with the SEC on March 7, 2025, and in its other filings made from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Advantage assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

    Non-GAAP Financial Measures and Related Information

    This press release includes certain financial measures not presented in accordance with generally accepted accounting principles (“GAAP”), including Adjusted EBITDA from Continuing Operations, Adjusted EBITDA from Discontinued Operations, Adjusted EBITDA by Segment, Adjusted Unlevered Free Cash Flow and Net Debt. These are not measures of financial performance calculated in accordance with GAAP and may exclude items that are significant in understanding and assessing Advantage’s financial results. Therefore, the measures are in addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP, and should not be considered in isolation or as an alternative to net income, cash flows from operations or other measures of profitability, liquidity or performance under GAAP. You should be aware that Advantage’s presentation of these measures may not be comparable to similarly titled measures used by other companies. Reconciliations of historical non-GAAP measures to their most directly comparable GAAP counterparts are included below.

    Advantage believes these non-GAAP measures provide useful information to management and investors regarding certain financial and business trends relating to Advantage’s financial condition and results of operations. Advantage believes that the use of Adjusted EBITDA from Continuing Operations, Adjusted EBITDA from Discontinued Operations, Adjusted EBITDA by Segment, Adjusted Unlevered Free Cash Flow, and Net Debt provide an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing Advantage’s financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. Non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. Additionally, other companies may calculate non-GAAP measures differently, or may use other measures to calculate their financial performance, and therefore Advantage’s non-GAAP measures may not be directly comparable to similarly titled measures of other companies.

    Adjusted EBITDA from Continuing Operations, Adjusted EBITDA from Discontinued Operations and Adjusted EBITDA by Segment are supplemental non-GAAP financial measures of our operating performance. Adjusted EBITDA from Continuing Operations and Adjusted EBITDA from Discontinued Operations mean net (loss) income before (i) interest expense (net), (ii) provision for (benefit from) income taxes, (iii) depreciation, (iv) amortization of intangible assets, (v) impairment of goodwill, (vi) changes in fair value of warrant liability, (vii) stock based compensation expense, (viii) equity-based compensation of Karman Topco L.P., (ix) fair value adjustments of contingent consideration related to acquisitions, (x) acquisition and divestiture related expenses, (xi) (gain) loss on divestitures, (xii) restructuring expenses, (xiii) reorganization expenses, (xiv) litigation expenses (recovery), (xv) costs associated with the Take 5 Matter, (xvi) EBITDA for economic interests in investments and (xviii) other adjustments that management believes are helpful in evaluating our operating performance.

    Adjusted EBITDA by Segment means, with respect to each segment, operating income (loss) from continuing operations before (i) depreciation, (ii) amortization of intangible assets, (iii) impairment of goodwill, (iv) stock based compensation expense, (v) equity-based compensation of Karman Topco L.P., (vi) fair value adjustments of contingent consideration related to acquisitions, (vii) acquisition and divestiture related expenses, (viii) restructuring expenses, (ix) reorganization expenses, (x) litigation expenses (recovery), (xi) costs associated with the Take 5 Matter, (xii) EBITDA for economic interests in investments and (xiii) other adjustments that management believes are helpful in evaluating our operating performance, in each case, attributable to such segment.

    Adjusted EBITDA Margin means Adjusted EBITDA from Continuing Operations divided by total revenues. 

    Adjusted Unlevered Free Cash Flow represents net cash provided by (used in) operating activities from continuing and discontinued operations less purchase of property and equipment as disclosed in the Statements of Cash Flows further adjusted by (i) cash payments for interest, (ii) cash received from interest rate derivatives, (iii) cash paid for income taxes; (iv) cash paid for acquisition and divestiture related expenses, (v) cash paid for restructuring expenses, (vi) cash paid for reorganization expenses, (vii) cash paid for contingent earnout payments included in operating cash flow, (viii) cash paid for costs associated with the Take 5 Matter, (ix) net effect of foreign currency fluctuations on cash, and (x) other adjustments that management believes are helpful in evaluating our operating performance. Adjusted Unlevered Free Cash Flow as a percentage of Adjusted EBITDA means Adjusted Unlevered Free Cash Flow divided by Adjusted EBITDA from Continuing Operations and Adjusted EBITDA from Discontinued Operations.

    Net Debt represents the sum of current portion of long-term debt and long-term debt, less cash and cash equivalents and debt issuance costs. With respect to Net Debt, cash and cash equivalents are subtracted from the GAAP measure, total debt, because they could be used to reduce the debt obligations. We present Net Debt because we believe this non-GAAP measure provides useful information to management and investors regarding certain financial and business trends relating to the Company’s financial condition and to evaluate changes to the Company’s capital structure and credit quality assessment.

    Advantage Solutions Inc.
    Reconciliation of Net Income (Loss) to Adjusted EBITDA
    (Unaudited)
     
    Continuing Operations   Three Months Ended March 31,  
    (in thousands)   2025     2024  
    Net loss from continuing operations   $ (56,130 )   $ (50,133 )
    Add:            
    Interest expense, net     34,360       35,761  
    Provision for (benefit from) income taxes from continuing operations     7,139       (15,865 )
    Depreciation and amortization     50,361       49,748  
    Changes in fair value of warrant liability     10       287  
    Stock-based compensation expense (a)     6,485       8,554  
    Equity-based compensation of Karman Topco L.P. (b)     (1,524 )     390  
    Fair value adjustments related to contingent consideration related to acquisitions (c)     —       778  
    Acquisition and divestiture related expenses (d)     423       440  
    Restructuring expenses (e)     931       —  
    Reorganization expenses (f)     12,240       35,052  
    Litigation expenses (g)     523       284  
    Costs associated with the Take 5 Matter (h)     308       240  
    EBITDA for economic interests in investments (i)     3,055       5,103  
    Adjusted EBITDA from Continuing Operations   $ 58,181     $ 70,639  
                     
    (a)   Represents non-cash compensation expense related to performance stock units, restricted stock units, and stock options under the 2020 Advantage Solutions Incentive Award Plan and the Advantage Solutions 2020 Employee Stock Purchase Plan.
    (b)   Represents expenses related to equity-based compensation expense associated with grants of Common Series D Units of Karman Topco L.P. made to one of the sponsors of Advantage.
    (c)   Represents adjustments to the estimated fair value of our contingent consideration liabilities related to our acquisitions, for the applicable periods.
    (d)   Represents fees and costs associated with activities related to our acquisitions, divestitures, and related activities, including professional fees, due diligence, and integration activities.
    (e)   Restructuring charges including programs designed to integrate and reduce costs intended to further improve efficiencies in operational activities and align cost structures consistent with revenue levels associated with business changes. Restructuring expenses include costs associated with the Voluntary Early Retirement Program and employee termination benefits associated with a reduction-in-force and other optimization initiatives.
    (f)   Represents fees and costs associated with various internal reorganization activities, including professional fees, lease exit costs, severance, and nonrecurring compensation costs.
    (g)   Represents legal settlements, reserves, and expenses that are unusual or infrequent costs associated with our operating activities.
    (h)   Represents costs associated with collection and remediation activities related to the Take 5 Matter, primarily professional fees and other related costs.
    (i)   Represents additions to reflect our proportional share of Adjusted EBITDA related to our equity method investments and reductions to remove the Adjusted EBITDA related to the minority ownership percentage of the entities that we fully consolidate in our financial statements.

    The MIL Network –

    May 12, 2025

  • MIL-OSI USA: Rep. Craig Introduces Bill to Cut Taxes for Small Business Owners

    Source: United States House of Representatives – Congresswoman Angie Craig (MN-02)

    WASHINGTON, DC – Today, during Small Business Week, U.S. Representative Angie Craig re-introduced her bill to cut taxes for small businesses and put more money back into Minnesotans’ pockets. 

     Rep. Craig’s Small Business Tax Relief Act will cut the corporate tax rate for small businesses to 18%, increase the self-employment tax deduction for small business owners and help reduce the national deficit.

    “Small businesses are the backbone of Minnesota’s economy, and we should be doing everything we can to make it easier for them to start and grow their operations,” said Rep. Craig. “While the Administration remains hell-bent on advancing a tax cut for billionaires and corporations, I’m leading the charge to cut taxes for working Minnesotans and small business owners.” 

     Full text of the Small Business Tax Relief Act can be found here.

    ###

    MIL OSI USA News –

    May 12, 2025

  • MIL-OSI United Kingdom: Support delivered to thousands amid cost of living crisis

    Source: City of Derby

    As part of a city wide partnership response to the ongoing cost of living crisis, Derby City Council and its partners have provided vital support to thousands of residents through a range of welfare, food, clothing, and financial assistance programmes. Over the past year, targeted initiatives have delivered essential services, demonstrating Derby’s commitment to protecting its most vulnerable residents.

    Key achievements of the past year have included:

    • Food & Essentials Support: Between April and November 2024, over 18,447 food parcels were distributed which adds up to more than 21,624 meals. In December 2024 alone, 2,642 food parcels helped feed 7,435 people.
    • Warm Welcome Hubs: Nearly 50,000 visits have been recorded across Derby’s Warm Hubs since June 2024, providing warmth, social connection, and safety for pensioners, people with disabilities, and others in need.
    • Benefits and Welfare Assistance: More than 6,000 applications have been processed for Council Tax Support, Housing Payments, and hardship funds since April 2024. Derby’s Welfare Reform Team has secured over £2.1 million for residents since 2018 and supported 1,809 vulnerable households.
    • Household Support Fund (HSF): Over 1 million free school meals were funded during school holidays, and nearly £785,500 in food vouchers and £239,000 in energy support have been distributed since April 2024.
    • Pension Credit Awareness: A targeted campaign, including a pop up pensioner event, helped older residents claim Pension Credit entitlements and receive cost of living support.

    Councillor Sarah Chambers, Cabinet Member for Cost of Living, Equalities and Communities, said:

    Behind every number in this report is a real person. These services exist to offer not just practical support, but dignity, hope, and the reassurance that no one in Derby has to face hardship alone.

    We know that times are tough, and it’s okay to ask for help. Whether you need help with clothing, help with bills, or just someone to talk to, there is support available. I strongly encourage anyone who’s struggling, or knows someone who is, to visit the cost of living support webpage or speak to your local neighbourhood team. The support is there to guide you to the right help at the right time.”

    Going forward into 2025, there will be continued support for a range of issues relating to cost of living. Household Support Fund 7 will also be launching. You can read more about the new Household Support Fund on our Newsroom.

    For more information on accessing support services, please visit the Community Action Derby cost of living webpage. You can also learn more about your neighbourhood team online. If you are struggling to find work at this time, The Derby Adult Learning Service and the Employment Hub may be able to help you upskill and find the next step in your career.

    MIL OSI United Kingdom –

    May 12, 2025

  • MIL-OSI United Kingdom: Don’t miss St Albans Spring Festival – thousands expected at FREE street party

    Source: St Albans City and District

    Publication date: 12 May 2025

    Thousands of people are expected to join an exciting St Albans City Centre event with free entertainment suitable for all.

    The first St Albans Spring Festival will be held on Sunday 18 May and will be a celebration of food, well-being, community spirit and sustainability.

    Among the attractions will be live music, arts and crafts, street theatre and dozens of stalls selling takeaway food, drink and other produce. There will also be opportunities to learn, play and create with fun activities.

    The event runs from 11am to 5pm, with St Peter’s Street, Chequer Street and High Street closed to traffic to create a safe and vibrant environment. 

    To ensure accessibility, sighted guides and British Sign Language interpreters will be in attendance.

    St Albans City and District Council is organising the festival which will highlight the District’s hospitality businesses and tourism offering.

    It is part-funded by the UK Shared Prosperity Fund and sponsored by Code Ninjas, Côte St Albans and Corker Taxis.

    Councillor Anthony Rowlands, Lead for Events, said:

    This is a new event which we are bringing to the City Centre as the warmer weather takes hold and residents look for things to do at the weekend.

    There will be lots of exciting activities and entertainment that will appeal to people of all ages and interests. They will enjoy an afternoon of free music, games, activities, arts and crafts, eating, drinking and shopping.

    One of our priorities is to make the event inclusive and accessible, so among the facilities are reserved seating for those less able to stand, wheelchair ramps beside kerbs and accessible viewing zones.

    We are expecting the Spring Festival to attract many thousands of residents and visitors, so I would urge people to come along and not to miss out on the fun.

    Among the many attractions to look out for are the:

    • Main Stage, situated near the Beech House, where there will be live performances by a host of local musicians.
    • Food and Drink Stalls selling a vast variety of refreshments and cuisines with plenty of outdoor seating.
    • Create and Play Zone with activities including traditional wooden games, toddler soft play and chalk pavement drawing.
    • Experience Zone by the Museum + Gallery where there will be drumming and dance workshops as well as information about plastic-free living, composting and cooking sustainably. There will also be chair-based yoga.
    • Code Ninjas, one of our sponsors, is offering young and old alike the opportunity to learn about game design and coding in their special pop-up dojo on St Peter’s Street.
    • Challenge Area with rodeo sheep, sideshow games and giant inflatable football darts provided by St Albans City FC.
    • Clock Tower Stage, supported by Côte St Albans, featuring music from OVO and Morris dancing.
    • Street Entertainers including stilt walkers and drummers.
    • Community Safe Zone, a quiet spot by the Civic Centre where people can take some time out.

    Corker Taxis are providing some free as well as 10% discounted rides to the event.

    If travelling by bus, you can find City Centre bus stop arrangements for the day and further information about the Spring Festival here: https://www.enjoystalbans.com/event/st-albans-spring-festival/.

    Photo: scene from a street event last year.

    Note: The UK Shared Prosperity Fund aims to improve pride in place and increase life chances across the UK by investing in communities and place, supporting local business, and people and skills. 

    For more information, visit: https://www.gov.uk/government/publications/uk-shared-prosperity-fund-prospectus. 

    Media contact:  John McJannet, Principal Communications Officer: 01727- 819533; john.mcjannet@stalbans.gov.uk.

    MIL OSI United Kingdom –

    May 12, 2025

  • MIL-OSI United Kingdom: More local family homes needed for children in care in Plymouth

    Source: City of Plymouth

    There are currently 534 children in care in Plymouth who all need a safe and loving environment to call home.

    Plymouth City Council is urgently appealing for more local people to consider becoming a foster carer, as a spotlight is shined on the benefits of fostering thanks to Foster Care Fortnight (12 to 25 May).

    Foster for Plymouth, the Council’s own not-for-profit fostering service, helps children to live locally. When there is a shortage of local placements, children have to live in residential homes or with fostering families outside of Plymouth, which means they’re separated from their friends, family, school and other trusted professionals that they may be used to working with.

    This can negatively impact children and young people’s wellbeing and make a difficult time that much harder.

    Foster for Plymouth currently only has 119 fostering households, as well as 32 kinship carers (family or friends who care for a child they know), and is actively asking residents to consider fostering.

    Councillor Jemima Laing, Cabinet Member for Children’s Social Care, said: “Foster Care Fortnight gives us a fantastic opportunity to thank and celebrate all our foster carers for all the hard work they do supporting children and young people.

    “It’s also a fantastic opportunity for us to promote fostering to our residents. If fostering is something you’re at all interested in, I would really encourage you to reach out to our fantastic team to ask any questions or visit our website to find out more about what’s involved. You could make a huge difference to a child’s life.”

    There are less barriers to being a foster carer than many people realise. To be considered, you need to be over the age of 21, have a spare room and be genuinely invested in supporting the wellbeing of children and young people.

    There are different types of fostering that may suit different lifestyles, including:

    • Time-limited fostering: Short term care that could last for a few days, weeks or even months, giving stability to a child or young person while decisions are made about their future
    • Permanent fostering: A long-term commitment if a child or young person is unable to return to their birth family, looking after them until they reach adulthood
    • Emergency fostering: Caring for children in an emergency scenario for a brief period (up to two weeks)
    • Respite fostering: Caring for children for a few nights at a time to give the child’s longer-term carer a break
    • Parent and child fostering: Opening your home to a child and their parents, supporting them while an assessment is carried out
    • Step Forward fostering: Helping a child or young person with higher needs, such as behaviour challenges, out of residential care.

    Foster for Plymouth offer a range of benefits, including generous financial allowances. Carers are paid between £350 and £779 per child, per week, depending on the child’s age and individual needs, or more for the Step Forward scheme.

    This payment includes a weekly allowance to cover the costs of caring for a child or young person as well as a reward payment.

    Carers also receive additional payments to pay for birthdays and birthday parties, holidays, religious festivals (such as Christmas) and even proms.

    Many foster carers are also eligible for a 50 per cent Council Tax discount, or full exemption. This applies even to foster carers who live outside of the Plymouth City Council boundaries.

    In addition to financial support, there’s also a comprehensive package of practical and emotional support on offer. This includes in-depth training and development, peer support, help from a dedicated supporting social worker, an online portal with 24/7 access to key information and regular social events.

    If you’re interested in finding out more, visit fosterforplymouth.co.uk, email [email protected] or call 01752 308762.

    MIL OSI United Kingdom –

    May 12, 2025

  • MIL-OSI: Diversified Energy Reports Strong First Quarter 2025 Results Driven by Increased Top-Line Revenue Generation and Operational Discipline

    Source: GlobeNewswire (MIL-OSI)

    Maintaining Momentum into Second Quarter 2025 and Remain on Track to Achieve Full Year 2025 Guidance

    Closed Maverick Acquisition Continuing to Execute our Strategy as the PDP Champion

    Returned Over $59 million to Shareholders Through Dividends and Repurchases Year to Date

    BIRMINGHAM, Ala., May 12, 2025 (GLOBE NEWSWIRE) — Diversified Energy Company PLC (LSE: DEC, NYSE: DEC) is pleased to announce the following operations and trading update for the quarter ended March 31, 2025.

    **Consolidated operational & financial results for the quarter include only two weeks of Maverick Natural Resources (“Maverick”) contribution**

    Executing Strategic Objectives

    • Closed transformational and accretive acquisition of Maverick Natural Resources
      • Approximately doubling revenues and free cash flow
    • Strengthened balance sheet and increased liquidity
      • Credit facility borrowing base of $900 million with $451 million of current undrawn capacity and unrestricted cash; current leverage ratio of ~2.7x
    • Retired $51 million of debt principal through amortizing debt payments during Q1 2025
    • Returned over $59 million year-to-date to shareholders through dividends and share repurchases(a)
      • Declared 1Q25 dividend of $0.29 per share
      • Repurchased ~1.5 million shares year-to-date in 2025, representing ~$19 million of share buybacks(a)
    • Advantageously added natural gas hedge volumes in 2026 through 2029 during recent strength in forward curve
    • On track to exceed $40 million in targeted land sales during the first half of 2025
    • Realized additional Coal Mine Methane (CMM) alternative energy credits with acquired assets from Summit Natural Resources
    • Next LvL Energy collaborated with the State of West Virginia regulatory agencies to modernize well retirement procedures using a method that is environmentally sound, safe, and cost-effective

    Maverick Integration

    • Full field level integration anticipated by the end of the second quarter with technology, and administrative integration anticipated by the end of the third quarter 2025
    • On track to exceed the annualized synergy target of over $50 million
      • High-graded staffing and reduced redundancies to capture efficiencies and cost savings
      • Contract savings providing impacts in compression and chemicals

    Delivering Reliable Results

    • March 2025 exit rate of 1,149 MMcfepd (192 Mboepd)(b)
      • Recorded average 1Q25 production of 864 MMcfepd (144 Mboepd)
    • Total Revenue, inclusive of settled hedges, of $295 million
    • Operating Cash Flow of $132 million, and Net loss of $337 million, inclusive of non-cash unsettled derivative adjustments
    • Achieved 1Q25 Adjusted EBITDA(c) of $138 million and Free Cash Flow(d) of $62 million
    • Realized 47% 1Q25 Adjusted EBITDA Margin(c)
      • 1Q25 Total Revenue, Inclusive of Settled Hedges per Unit(e) of $3.78/Mcfe ($22.68/Boe)
      • 1Q25 Adjusted Operating Cost per Unit(f) of $2.00/Mcfe ($12.01/Boe)
    • Published the 5th annual Sustainability Report, “Winning Through Collaboration”

    Rusty Hutson, Jr., CEO of Diversified, commented:

    “Diversified is off to a great start in 2025, demonstrating the resilience of our business model in an otherwise volatile business environment while advancing our long-term strategy with the transformational acquisition of Maverick Natural Resources. Despite the broader macroeconomic and geopolitical challenges, we delivered solid operational results and continued growth in free cash flow.

    We remain committed to effectively allocating capital. Thus far this year, Diversified has returned over $59 million to our shareholders through dividends and share repurchases, while we continue to deleverage naturally from principal paydowns of our debt. We believe our shares remain a compelling investment at current levels, and we will continue to take advantage of the current cycle and market dislocation to opportunistically repurchase shares.

    At the same time, we have strategically invested in growing our business with our Maverick acquisition. We are highly focused on integration across all operations and functions of the organization, using the disciplined and methodical playbook we have historically executed to drive synergies and cost-saving initiatives that should provide margin expansion over time. We fully expect to exceed our annualized synergy target of $50 million.

    Despite the current uncertain environment, the Diversified team, with our ONE DEC culture, continues to perform at a high level. Diversified has a proven track record of managing through challenging markets. I am confident that with our highly strategic initiatives, we will capitalize on opportunities and emerge from the current market as an even stronger company, ensuring continued growth and success.”

    Operations and Finance Update

    Production

    The Company recorded exit rate production in March 2025 of 1,149 MMcfepd (192 Mboepd)(b) and delivered 1Q25 average net daily production of 864 MMcfepd (144 Mboepd). Net daily production for the quarter continued to benefit from Diversified’s peer-leading, shallow decline profile.

    The production for the quarter reflects the contribution of only two weeks of Maverick Natural Resources, which closed March 14th, 2025.

    Margin and Total Cash Expenses per Unit

    Diversified delivered 1Q25 per unit revenues of $3.78/Mcfe ($22.68/Boe) and Adjusted EBITDA Margin(a) of 47% (55% unhedged). Notably, these per unit metrics reflect an increase in both revenues and expenses from the incorporation of greater liquids-related production of Maverick Natural Resources. The Company’s per unit expenses are anticipated to improve as the Company implements its playbook to achieve long-term, sustainable synergies and cost savings. For example, General and Administrative expenses remained relatively consistent with prior period levels, despite the higher per unit costs of Maverick, supporting our progress on cost savings and synergy capture.

      1Q25   1Q24    
      $/Mcfe   $/Boe   $/Mcfe   $/Boe   %
    Average Realized Price(1) $ 3.78   $ 22.68     $ 3.25   $ 19.50     16 %
                       
      1Q25   1Q24    
    Adjusted Operating Cost per Unit(f) $/Mcfe   $/Boe   $/Mcfe   $/Boe   %
    Lease Operating Expense(2) $ 0.92   $ 5.49     $ 0.65   $ 3.91     40 %
    Midstream Expense $ 0.23   $ 1.40     $ 0.27   $ 1.61     (13 )%
    Gathering and Transportation $ 0.34   $ 2.06     $ 0.31   $ 1.85     11 %
    Production Taxes $ 0.21   $ 1.27     $ 0.12   $ 0.74     72 %
    Total Operating Expense(2) $ 1.70   $ 10.22     $ 1.35   $ 8.11     26 %
    Employees, Administrative Costs and Professional Fees(g) $ 0.30   $ 1.79     $ 0.33   $ 1.98     (10 )%
    Adjusted Operating Cost per Unit(f)(2) $ 2.00   $ 12.01     $ 1.68   $ 10.09     19 %
    Adjusted EBITDA Margin(a)   47 %     49 %    

    (1) 1Q25 excludes $0.04/Mcfe ($0.24/Boe) and 1Q24 excludes $0.05/Mcfe ($0.36/Boe) of other revenues generated by Next LVL Energy.
    (2) 1Q25 excludes $0.03/Mcfe ($0.22/Boe) and 1Q24 excludes $0.07/Mcfe ($0.39/Boe) of expenses attributable to Next LVL Energy.
    Values may not sum due to rounding.

    Opportunistic Layering of Additional Hedges at Premium Contract Prices

    Diversified has strategically taken advantage of the recent strength of the natural gas price curve to add to the Company’s 2026-2029 hedge portfolio and layering additional NYMEX volumes at an average floor price of ~$3.68/MMBtu, which is reflected in the financial derivatives positions as of April 30, 2025.

    Environmental Update

    Asset Retirement Progress and Next LVL Energy Update

    Next LvL Energy partnered with the State of West Virginia regulatory agencies to implement advanced testing protocols and improved technology to help modernize and upgrade well retirement procedures. Through the combined efforts of real-world situation testing and oversight, the State of West Virginia has enacted new asset retirement regulations, with the resulting framework achieving an environmentally sound, safe, and cost-effective methodology.

    Through the end of the first quarter, the Company has retired a combined 76 wells consisting of operated assets, state well retirements, and contracted retirement activity for third-party operators. Diversified is well-positioned to meet or exceed its retirement goal of 200 wells per year, with 57 operated wells retired as of March 31, 2025. The Company continues to drive stakeholder value via the realization of contractual partnerships to retire assets that eliminate orphaned or abandoned wells in our region and provide revenue to offset the cash costs associated with the retirement of Diversified’s wells.

    Combined Company 2025 Outlook

    The Company is reiterating its previously announced Full Year 2025 guidance. Following the recently completed acquisition of Maverick, Diversified expects to realize significant operational synergies associated with a larger, consolidated position in Oklahoma and the ability to improve the overall cost structure of the Maverick assets while continuing to prioritize returns and Free Cash Flow generation.

    The following outlook incorporates a nine-month contribution from the recently acquired Maverick assets.

      2025 Guidance
    Total Production (Mmcfe/d) 1,050 to 1,100
    % Liquids ~25%
    % Natural Gas ~75%
    Total Capital Expenditures (millions) $165 to $185
    Adj. EBITDA(1)(millions) $825 to $875
    Adj. Free Cash Flow(1)(millions) ~$420
    Leverage Target 2.0x to 2.5x
    Combined Company Synergies (millions) >$50

    (1) Includes the value of anticipated cash proceeds for 2025 land sales.

    Conference Call Details

    The Company will host a conference call today, Monday, May 12, 2025, at 1:00 PM GMT (8:00 AM EDT) to discuss the 1Q25 Trading Statement and will make an audio replay of the event available shortly thereafter.

    Footnotes:

    (a) Includes the total value of dividends paid and declared, and share repurchases (including Employee Benefit Trust) year-to-date, through May 12, 2025.
    (b) Exit rate includes full month of March 2025 production from Maverick.
    (c) Adjusted EBITDA represents earnings before interest, taxes, depletion, and amortization, and includes adjustments for items that are not comparable period-over-period; Adjusted EBITDA Margin represents Adjusted EBITDA as a percent of Total Revenue, Inclusive of Settled Hedges; For purposes of comparability, Adjusted EBITDA Margin excludes Other Revenue of $3 million in 1Q25 and $3 million in 1Q24, and Lease Operating Expense of $3 million in 1Q25 and $4 million in 1Q24 associated with Diversified’s wholly owned plugging subsidiary, Next LVL Energy; For more information, please refer to the Non-IFRS reconciliations as set out below.
    (d) Free Cash Flow represents net cash provided by operating activities less expenditures on natural gas and oil properties and equipment and cash paid for interest; For more information, please refer to the Non-IFRS reconciliations as set out below.
    (e) Includes the impact of derivatives settled in cash; For purposes of comparability, excludes certain amounts related to Diversified’s wholly owned plugging subsidiary, Next LVL Energy.
    (f) Adjusted Operating Cost represent total lease operating costs plus recurring administrative costs. Total lease operating costs include base lease operating expense, owned gathering and compression (midstream) expense, third-party gathering and transportation expense, and production taxes. Recurring administrative expenses (Adjusted G&A) is a Non-IFRS financial measure defined as total administrative expenses excluding non-recurring acquisition & integration costs and non-cash equity compensation; For purposes of comparability, excludes certain amounts related to Diversified’s wholly owned plugging subsidiary, Next LVL Energy.
    (g) As used herein, employees, administrative costs and professional services represent total administrative expenses excluding cost associated with acquisitions, other adjusting costs and non-cash expenses. We use employees, administrative costs and professional services because this measure excludes items that affect the comparability of results or that are not indicative of trends in the ongoing business.
       

    For Company-specific items, refer also to the Glossary of Terms and/or Alternative Performance Measures found in the Company’s Annual Report and Form 20-F for the year ended December 31, 2024 filed with the United States Securities and Exchange Commission and available on the Company’s website.

    For further information, please contact:

    Diversified Energy Company PLC +1 973 856 2757
    Doug Kris dkris@dgoc.com
    Senior Vice President, Investor Relations & Corporate Communications www.div.energy
       
    FTI Consulting dec@fticonsulting.com
    U.S. & UK Financial Public Relations  
       

    About Diversified Energy Company PLC

    Diversified is a leading publicly traded energy company focused on natural gas and liquids production, transport, marketing, and well retirement. Through our unique differentiated strategy, we acquire existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for our sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the Right Company at the Right Time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.

    Forward-Looking Statements

    This announcement contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations, business and outlook of the Company and its wholly owned subsidiaries (the “Group”). All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. These forward-looking statements, which contain the words “anticipate”, “believe”, “intend”, “estimate”, “expect”, “may”, “will”, “seek”, “continue”, “aim”, “target”, “projected”, “plan”, “goal”, “achieve”, “guidance” and words of similar meaning, reflect the Company’s beliefs and expectations and are based on numerous assumptions regarding the Company’s present and future business strategies and the environment the Company and the Group will operate in and are subject to risks and uncertainties that may cause actual results to differ materially. No representation is made that any of these statements or forecasts will come to pass or that any forecast results will be achieved. Forward-looking statements involve inherent known and unknown risks, uncertainties and contingencies because they relate to events and depend on circumstances that may or may not occur in the future and may cause the actual results, performance or achievements of the Company or the Group to be materially different from those expressed or implied by such forward looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company’s or the Group’s ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of regulators and other factors such as the Company’s or the Group’s ability to continue to obtain financing to meet its liquidity needs, the Company’s ability to successfully integrate acquisitions, including the acquired Maverick assets, changes in the political, social and regulatory framework, including inflation and changes resulting from actual or anticipated tariffs and trade policies, in which the Company or the Group operate or in economic or technological trends or conditions. The list above is not exhaustive and there are other factors that may cause the Company’s or the Group’s actual results to differ materially from the forward-looking statements contained in this announcement, Including the risk factors described in the “Risk Factors” section in the Company’s Annual Report and Form 20-F for the year ended December 31, 2024, filed with the United States Securities and Exchange Commission.

    Forward-looking statements speak only as of their date and neither the Company nor the Group nor any of its respective directors, officers, employees, agents, affiliates or advisers expressly disclaim any obligation to supplement, amend, update or revise any of the forward-looking statements made herein, except where it would be required to do so under applicable law. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements in this announcement, may not occur. As a result, you are cautioned not to place undue reliance on such forward-looking statements. Past performance of the Company cannot be relied on as a guide to future performance. No statement in this announcement is intended as a profit forecast or a profit estimate and no statement in this announcement should be interpreted to mean that the financial performance of the Company for the current or future financial years would necessarily match or exceed the historical published for the Company.

    Use of Non-IFRS Measures

    Certain key operating metrics that are not defined under IFRS (alternative performance measures) are included in this announcement. These non-IFRS measures are used by us to monitor the underlying business performance of the Company from period to period and to facilitate comparison with our peers. Since not all companies calculate these or other non-IFRS metrics in the same way, the manner in which we have chosen to calculate the non-IFRS metrics presented herein may not be compatible with similarly defined terms used by other companies. The non-IFRS metrics should not be considered in isolation of, or viewed as substitutes for, the financial information prepared in accordance with IFRS. Certain of the key operating metrics are based on information derived from our regularly maintained records and accounting and operating systems.

    Adjusted EBITDA

    As used herein, EBITDA represents earnings before interest, taxes, depletion, depreciation and amortization. Adjusted EBITDA includes adjusting for items that are not comparable period-over-period, namely, finance costs, accretion of asset retirement obligation, other (income) expense, loss on joint and working interest owners receivable, gain on bargain purchases, (gain) loss on fair value adjustments of unsettled financial instruments, (gain) loss on natural gas and oil property and equipment, costs associated with acquisitions, other adjusting costs, loss on early retirement of debt, non-cash equity compensation, (gain) loss on foreign currency hedge, net (gain) loss on interest rate swaps and items of a similar nature.

    Adjusted EBITDA should not be considered in isolation or as a substitute for operating profit or loss, net income or loss, or cash flows provided by operating, investing, and financing activities. However, we believe such a measure is useful to an investor in evaluating our financial performance because it (1) is widely used by investors in the natural gas and oil industry as an indicator of underlying business performance; (2) helps investors to more meaningfully evaluate and compare the results of our operations from period to period by removing the often-volatile revenue impact of changes in the fair value of derivative instruments prior to settlement; (3) is used in the calculation of a key metric in one of the financial covenants under our revolving credit facility; and (4) is used by us as a performance measure in determining executive compensation. When evaluating this measure, we believe investors also commonly find it useful to evaluate this metric as a percentage of our total revenue, inclusive of settled hedges, producing what we refer to as our adjusted EBITDA margin.

    The following table presents a reconciliation of the IFRS Financial measure of Net Income (Loss) to Adjusted EBITDA for each of the periods listed:

      Three Months Ended
    Amounts in 000’s March 31, 2025 March 31, 2024 December 31, 2024
    Net income (loss) $ (337,391 ) $ (15,145 ) $ (102,033 )
    Finance costs   42,820     27,416     37,453  
    Accretion of asset retirement obligation   10,353     7,183     8,323  
    Other (income) expense   (644 )   (5 )   (295 )
    Income tax (benefit) expense   66,790     5,633     (125,052 )
    Depreciation, depletion and amortisation   70,807     57,015     73,960  
    (Gain) loss on fair value adjustments of unsettled financial instruments   235,070     13,552     202,124  
    (Gain) loss on natural gas and oil property and equipment(1)   236     4     14,330  
    (Gain) loss on sale of equity interest   —     —     7,375  
    Unrealized (gain) loss on investment   —     —     6,446  
    Costs associated with acquisitions   2,885     1,519     4,532  
    Other adjusting costs(2)   5,963     3,693     7,644  
    Loss on early retirement of debt   39,485     —     2,469  
    Non-cash equity compensation   1,825     1,268     2,258  
    (Gain) loss on interest rate swap   (35 )   (50 )   (41 )
    Total Adjustments $ 475,555   $ 117,228   $ 241,526  
    Adjusted EBITDA(c) $ 138,164   $ 102,083   $ 139,493  
    TTM Adjusted EBITDA $ 508,390   $ 497,510   $ 472,309  
    Pro Forma TTM Adjusted EBITDA(3) $ 952,216   $ 497,510   $ 548,570  

    (1) Excludes $2 million, $2 million and $8 million in cash proceeds received for leasehold sales during the three months ended March 31, 2025, March 31, 2024 and December 31, 2024, respectively.
    (2) Other adjusting costs for the three months ended December 31, 2024 were primarily associated with legal fees for certain litigation.
    (3) Pro forma TTM adjusted EBITDA includes adjustments for respective periods to pro forma results for the full twelve-month impact of intra-period acquisitions (March 31, 2025: Oaktree, Crescent Pass, East Texas II, Summit and Maverick; December 31, 2024: Oaktree, Crescent Pass Energy and East Texas II).

    Net Debt and Net Debt-to-Adjusted EBITDA

    As used herein, net debt represents total debt as recognized on the balance sheet less cash and restricted cash. Total debt includes our borrowings under our revolving credit facility and our borrowings under or issuances of, as applicable, our subsidiaries’ securitization facilities, excluding original issuance discounts and deferred finance costs. We believe net debt is a useful indicator of our leverage and capital structure.

    As used herein, net debt-to-adjusted EBITDA, or “leverage” or “leverage ratio,” is measured as net debt divided by adjusted trailing twelve-month EBITDA. We believe that this metric is a key measure of our financial liquidity and flexibility and is used in the calculation of a key metric in one of the financial covenants under our revolving credit facility.

    The following table presents a reconciliation of the IFRS Financial measure of Total Non-Current Borrowings to the Non-IFRS measure of Net Debt and a calculation of Net Debt-to-Adjusted EBITDA and Net Debt-to-Pro Forma Adjusted EBITDA for each of the periods listed:

      As of
    Amounts in 000’s March 31, 2025 March 31, 2024 December 31, 2024
    Total non-current borrowings, net $ 2,544,937   $ 1,066,643   $ 1,483,779  
    Current portion of long-term debt   156,253     184,463     209,463  
    LESS: Cash   (32,641 )   (3,456 )   (5,990 )
    LESS: Restricted cash   (106,011 )   (32,828 )   (46,269 )
    Net Debt $ 2,562,538   $ 1,214,822   $ 1,640,983  
    Pro forma TTM adjusted EBITDA(1) $ 952,216   $ 497,510   $ 548,570  
    Net debt-to-pro forma TTM adjusted EBITDA 2.7x 2.4x 3.0x

    (1) Pro forma TTM adjusted EBITDA includes adjustments for respective periods to pro forma results for the full twelve-month impact of intra-period acquisitions (March 31, 2025: Oaktree, Crescent Pass, East Texas II, Summit and Maverick; December 31, 2024: Oaktree, Crescent Pass Energy and East Texas II).

    Free Cash Flow

    As used herein, free cash flow represents net cash provided by operating activities less expenditures on natural gas and oil properties and equipment and cash paid for interest. We believe that free cash flow is a useful indicator of our ability to generate cash that is available for activities other than capital expenditures. The Directors believe that free cash flow provides investors with an important perspective on the cash available to service debt obligations, make strategic acquisitions and investments, and pay dividends.

    The following table presents a reconciliation of the IFRS Financial measure of Net Cash from Operating Activities to the Non-IFRS measure of Free Cash Flow for each of the periods listed:

    Amounts in 000’s
    Except per share amounts
    		 Three Months Ended Three Months Ended Twelve Months Ended
    March 31, 2025 March 31, 2024 March 31, 2025
    Net cash provided by operating activities $ 131,539   $ 106,258   $ 370,944  
    LESS: Expenditures on natural gas and oil properties and equipment   (28,031 )   (9,293 )   (70,838 )
    LESS: Cash paid for interest   (41,574 )   (23,759 )   (140,956 )
    Free Cash Flow(d) $ 61,934   $ 73,206   $ 159,150  


    Total Revenue, Inclusive of Settled Hedges and Adjusted EBITDA Margin

    As used herein, total revenue, inclusive of settled hedges, includes the impact of derivatives settled in cash. We believe that total revenue, inclusive of settled hedges, is a useful measure because it enables investors to discern our realized revenue after adjusting for the settlement of derivative contracts.

    The following table presents a reconciliation of the IFRS Financial measure of Total Revenue to the Non-IFRS measure of Total Revenue, Inclusive of Settled Hedges and a calculation of Adjusted EBITDA Margin for each of the periods listed:

    Amounts in 000’s
    		 Three Months Ended Three Months Ended Year Ended
    March 31, 2025 March 31, 2024 December 31, 2024
    Total revenue 346,903   193,624   794,841  
    Net gain (loss) on commodity derivative instruments(1) (52,271 ) 22,066   151,289  
    Total revenue, inclusive of settled hedges(c) 294,632   215,690   946,130  
    Adjusted EBITDA(c) 138,164   102,083   472,309  
    Adjusted EBITDA Margin(c) 47 % 47 % 50 %
    Adjusted EBITDA Margin, exclusive of Next LVL Energy(2) 47 % 49 % 51 %

    (1) Net gain (loss) on commodity derivative settlements represents cash (paid) or received on commodity derivative contracts. This excludes settlements on foreign currency and interest rate derivatives as well as the gain (loss) on fair value adjustments for unsettled financial instruments for each of the periods presented.
    (2) For purposes of comparability, Adjusted EBITDA Margin excludes Other Revenue of $3 million in 1Q25 and $3 million in 1Q24, and Lease Operating Expense of $3 million in 1Q25 and $4 million in 1Q24 associated with Diversified’s wholly owned plugging subsidiary, Next LVL Energy.

    The MIL Network –

    May 12, 2025

  • MIL-OSI USA: Congressman Kustoff Introduces Bill to Expand Childcare Options for Families

    Source: United States House of Representatives – Representative David Kustoff (TN-08)

    WASHINGTON, D.C. — Today, House Committee on Ways and Means Reps. David Kustoff (R-TN) and Claudia Tenney (R-NY) introduced the Child Care for American Families Act in the House of Representatives. This bill will expand childcare opportunities for working families by building upon the Employer-Provided Childcare Tax Credit. 

    “Insufficient access to childcare is a problem that affects families and businesses nationwide,” said Congressman Kustoff. “That is why I introduced the Child Care for American Families Act, to incentivize businesses to construct and operate childcare centers. This legislation will make it easier for employers to hire and retain employees. I urge my colleagues to support this important bill that will help get families back to work.”

    Background:
    The Employer-Provided Childcare Tax Credit (IRC Section 45F) is a federal tax program designed to encourage employers to invest in childcare services for their employees and help working parents manage the high cost of childcare and remain in the labor market. However, this program is currently underutilized by employers due to the insufficiently low credit cap.

    The Child Care for American Families Act would make several changes to Section 45F to increase the utilization and effectiveness of the credit. 

    1. Increase the credit amount businesses can claim and tailors the credit towards small businesses and businesses in rural areas.
    2. Allow multiple employers to jointly apply for the credit via a consortium.
    3. Instruct the IRS to develop an outreach program to increase public awareness and educate employers about the availability of, and how to apply for, the credit.

    Click here for the full text of the bill. 

    ###

    MIL OSI USA News –

    May 12, 2025

  • MIL-OSI Australia: King to serve as Federal Resources Minister and Minister for Northern Australia

    Source: Australian Civil Aviation Safety Authority

    I am honoured to be reappointed Federal Minister for Resources and Minister for Northern Australia as part of a re-elected Albanese Labor Government.

    I am looking forward to implementing the Government’s election policies and to delivering for the people of Australia.

    Strengthening our resources industry is a key priority of this Government as a part of its Future Made in Australia agenda.

    The implementation of the Future Gas Strategy and the Critical Minerals Strategy is vital for the nation’s productivity agenda.

    The development of our critical minerals and rare earths sector is central to Australia’s national economic, trade and security interests.

    The creation of a Critical Minerals Strategic Reserve, combined with Production Tax Credits and the expansion of the Critical Minerals Facility will support Australia’s economy and boost our resilience in a time of global uncertainty. 

    A strong north means a strong Australia, and the Albanese Labor Government is working to make Northern Australia even stronger.

    The Government’s plan for Northern Australia through work such as its continued support for the Northern Australia Infrastructure Facility will create jobs, build infrastructure and support communities. 

    I look forward to working with Special Envoy Luke Gosling to ensure the north grows and prospers.

    I am thrilled to be given the opportunity to work with Senator Anthony Chisholm as Assistant Minister for Resources and Senator Nita Green as Assistant Minister for Northern Australia.  

    Our resources industry is the engine room of the economy, but it is also increasingly important for our sovereignty and our national security.

    Critical minerals and rare earths are essential for our defence industry and will be needed by our security partners, particularly as part of AUKUS.

    The Albanese Labor Government will work to ensure that all Australians benefit from the resources that are essential to our national interest.

    MIL OSI News –

    May 12, 2025

  • Trump says he will strip Harvard’s tax-exempt status

    Source: Government of India

    Source: Government of India (4)

    President Donald Trump said on Friday he planned to strip Harvard University of its tax-exempt status, setting up another potential legal fight with the Ivy League school amid his wider crackdown on elite universities and the U.S. education system.

    “We are going to be taking away Harvard’s Tax Exempt Status. It’s what they deserve!” Trump said in a post on his social media platform, without specifying when he might take action.

    Representatives for the Internal Revenue Service did not immediately respond to a request for comment on Trump’s post and whether it wasrevoking the university’s tax-exempt status.

    Harvard, in a statement, said the move would be unlawful and unprecedented.

    “There is no legal basis to rescind Harvard’s tax-exempt status,” the Boston-area school said. “The unlawful use of this instrument more broadly would have grave consequences for the future of higher education in America.”

    It would also cut money available for student scholarships, medical research and technological advancements that drive economic growth, Harvard added.

    Since taking office in January, Trump has targeted major U.S. universities by freezing federal funding, launching investigations, revoking student visas and making other demands. He has said higher education has been gripped by antisemitic, anti-American, Marxist and radical left ideologies.

    Under federal law, the president cannot request that the IRS, which determines whether an organization can have or maintain tax-exempt status, investigate organizations.

    Most universities are exempt from federal income tax under the U.S. tax code because they are deemed to be operated exclusively for public educational purposes.

    Trump’s administration has escalated its fight against Harvard in recent weeks, probing its nearly $9 billion in federal funding, seeking details on its foreign ties and threatening its ability to enroll foreign students. The administration has also demanded a ban on diversity, equity and inclusion practices, a crackdown on some pro-Palestinian groups and a mask ban.

    On Wednesday, Trump suggested he would withhold grants.

    Harvard has pushed back, suing the administration over the halted U.S. research funding and other demands, and joining more than 200 university and college presidents in protesting Trump’s higher education policies.

    Trump said he was considering an end to Harvard’s tax-exempt status in a separate social media post on April 15, when annual U.S. tax returns are due, but did not say how he would do it.

    White House spokesperson Harrison Fields last month said any forthcoming IRS actions were independent of the president and that any tax status investigations were initiated before Trump’s post.

    (Reuters)

    May 12, 2025

  • MIL-OSI Asia-Pac: SFST’s speech at HKQAA International Sustainability Forum – Hong Kong 2025 (English only)

    Source: Hong Kong Government special administrative region

         Following is the pre-recorded video speech by the Secretary for Financial Services and the Treasury, Mr Christopher Hui, at the HKQAA International Sustainability Forum – Hong Kong 2025 today (May 12):

    Chairman Ho (Chairman of the Hong Kong Quality Assurance Agency (HKQAA), Mr Ho Chi-shing), Chin-wan (Secretary for Environment and Ecology, Mr Tse Chin-wan), distinguished guests, ladies and gentlemen,
     
         Good morning. It is my great pleasure to address you at the HKQAA’s annual international sustainability forum, a platform gathering relevant stakeholders from both the public and private sectors to discuss important issues of sustainability. This year’s theme, “Seizing Green Finance Opportunities in the Low-Carbon Transition of the Belt and Road Initiative and the Greater Bay Area (GBA)”, is highly relevant and timely amid the global shift and increasing awareness towards sustainability, and the rising importance of green and sustainable finance in supporting green transition and achieving carbon neutrality for the world. Pursuing the vision of a community with a shared future for mankind, both our country and our city look beyond the current geopolitical environment and the instability it brings, and are committed to promoting a low-carbon economy, green finance, and supporting green development in the Belt and Road region.
     
    Hong Kong as a premier international financial centre
     
         Being a premier international financial centre, Hong Kong also plays a part in supporting green development and transition in the region by mobilising cross-border investments to address climate and sustainability challenges. The Government, along with financial regulators and stakeholders, has been making efforts in enhancing the ecosystem of the green and sustainable finance market through a multipronged approach, namely (i) providing diversified green investment products; (ii) aligning with international standards; and (iii) supporting market development.
     
    Providing diversified green investment products
     
         Our capital market provides a wide range of green and sustainable investment products. In 2024, the volume of green and sustainable bonds arranged in Hong Kong amounted to around US$43 billion, ranking first in the Asian market for seven consecutive years since 2018 and capturing around 45 per cent of the regional total. As of March this year, the number of ESG (environmental, social and governance) funds authorised by the Securities and Futures Commission (SFC) was around 220 with assets under management of around HK$1.1 trillion – an increase of 80 per cent over the past three years.
     
         The Government Sustainable Bond Programme, formerly known as the Green Bond Programme, continues to play a leading role in funding local green initiatives. Since 2019, we have issued an equivalent of over HK$220 billion in green bonds across multiple currencies and tenors, including institutional, retail and tokenised tranches. Last year, we expanded the programme to include sustainable projects, reinforcing our commitment to broader environmental and social goals while setting important benchmarks for the market.
     
         We are also building the market infrastructure needed to connect capital with carbon-related products in Hong Kong, the Mainland, Asia and beyond. In 2022, Hong Kong Exchanges and Clearing Limited (HKEX) launched the Core Climate, an international carbon marketplace. It facilitates transparent, efficient trading of high-quality carbon credits from certified projects across Asia, South America, and West Africa. Sectors such as forestry, wind, solar, and biomass are represented, offering opportunities for enterprises in the GBA and Belt and Road economies to support their own Net Zero transitions.
     
    Alignment with international standards
     
    Sustainability reporting
     
         As global awareness of sustainability grows, consistent and reliable information becomes essential for investors and businesses to manage risk and allocate capital effectively. We launched in December last year the Roadmap on Sustainability Disclosure in Hong Kong. This provides a clear path for large publicly accountable entities to adopt the International Financial Reporting Standards (IFRS) – Sustainability Disclosure Standards (ISSB Standards) by 2028. This move places Hong Kong among the first jurisdictions to align local reporting requirements with the global baseline, enhancing transparency and comparability in sustainable finance. The roadmap not only reflects our commitment to the global green transition but also offers clarity and guidance to market participants.
     
    Taxonomy
     
         A shared understanding of what constitutes “green” is vital. In May 2024, the Hong Kong Monetary Authority (HKMA) published the Hong Kong Taxonomy for Sustainable Finance. This important tool supports the market by offering a standardised classification of green activities, aligned with the Common Ground Taxonomy to ensure interoperability with taxonomies in Mainland China and the European Union. The initial phase of the taxonomy covers 12 activities across four key sectors: power generation, transportation, construction, and water and waste management. As a living framework, the taxonomy will continue to evolve. The HKMA has embarked on the next phase development to expand the scope of sectors and economic activities, including transition activities.
     
    Supporting market development
     
         To promote the green financing activity in Hong Kong, we launched the Green and Sustainable Finance Grant Scheme in 2021. The scheme offers subsidies to eligible bond issuers and loan borrowers to help cover issuance and external review costs. Extended to 2027, its scope now also includes transition bonds and loans. This expansion will help encourage industries across the GBA and Belt and Road economies to leverage Hong Kong’s platform to finance their low-carbon transitions and contribute to global sustainability goals.
     
         We are also investing in innovation. Green fintech is an important enabler of scalable sustainability solutions. We launched the Green and Sustainable Fintech Proof-of-Concept Funding Support Scheme in June last year to provide early-stage funding to support technology companies or research institutes conducting green fintech activities to collaborate with local enterprises, and to co-develop new projects in the market addressing industry pain points. So far, 60 projects have been approved, reflecting the vibrant potential of Hong Kong’s green fintech ecosystem.
     
    Hong Kong’s unique position to support countries of the Belt and Road Initiative
     
         Hong Kong continues to serve as a bridge between Mainland China and the wider Belt and Road region. We actively promote regional co-operation through strategic platforms and exchanges. In April this year, the HKEX and the SFC co-hosted the inaugural International Carbon Markets Summit. The event brought together more than 200 global participants, including regulators, carbon trading platforms, corporates, and investors. The Summit marked a step forward in building trusted, effective carbon market ecosystems that support the sustainable development goals of Belt and Road economies.
     
         We also continue to convene the annual Asian Financial Forum (AFF) to foster international dialogue. In January this year, the 18th AFF featured a new milestone: the launch of a dedicated chapter co-hosted with the Gulf Cooperation Council (GCC). This marked an important milestone in fostering collaboration in financial services such as investments in green energy between Hong Kong and GCC member states.
     
         Climate change presents one of the greatest risks to our global economy. The increasing frequency and severity of natural disasters require new financial tools to build resilience. Hong Kong is taking a leading role in this area by developing the insurance-linked securities (ILS) and catastrophe bonds market.
     
         Since the launch of our ILS framework in 2021, seven catastrophe bonds have been issued in Hong Kong, raising over US$800 million in coverage against risks such as typhoons and earthquakes. These instruments provide critical risk mitigation solutions for both corporates and governments. To further support this market, we extended our Pilot ILS Grant Scheme to 2028, providing subsidies to issuers of ILS and supporting the growth of Hong Kong-based service providers. These efforts reinforce Hong Kong’s position as a centre for innovative risk management in the face of climate change.
     
    HKQAA’s contributions
     
         I would also like to take this opportunity to thank the HKQAA for its contributions to the development of green finance in Hong Kong. The HKQAA has been participating in the development of international standards for sustainable finance and launched the Green and Sustainable Finance Certification Scheme (formerly called Green Finance Certification Scheme) in 2018.
     
         I am delighted to know that the HKQAA also supports the development of a roadmap for sustainability disclosure in our country by contributing to the Beijing Municipal Bureau of Finance and Economy’s pilot project for sustainability disclosure and talent development. At home, it has supported Hong Kong’s own disclosure roadmap by establishing industry-specific climate risk tools to help local businesses prepare for future reporting requirements.
     
         The HKQAA has also forged partnerships with the Belt and Road International Green Development Alliance, helping regional partners access global capital markets and implement green financing solutions. Its work exemplifies the kind of cross-sector, cross-border collaboration that is essential for sustainable growth.
     
    Closing
     
         Looking forward, I am confident that the opportunities in green finance – particularly in supporting the low-carbon transition of the Belt and Road region and the GBA – will continue to expand. Today’s forum offers valuable insights into the path toward sustainability, a journey that calls for steadfast commitment, continuous innovation, and deep cross-regional collaboration. As we move forward, the Government remains committed to working hand in hand with the industry and all stakeholders to build a greener, more resilient future for Hong Kong and the wider region. Thank you.

    MIL OSI Asia Pacific News –

    May 12, 2025

  • MIL-OSI Australia: Speech to Australian Shareholders’ Association Investor Conference

    Source: New places to play in Gungahlin

    Jeremy Hirschhorn, Second Commissioner, Client Engagement Group
    Speech delivered at the Australian Shareholders’ Association Investor Conference
    Sydney, 6 May 2025
    (Check against delivery)

    Large company investing – what the T(ax) says about the E(arnings)

    Thank you for having me here today.

    I will firstly give some background as to the health of the Australian tax system, in particular as it relates to large corporations, and the strategies of the Australian Taxation Office (ATO) in further improving that performance.

    I am then hoping to highlight to you why you should be interested in the tax performance of your investee companies (and potential signals that further questions are required), as well as some other sources of information which, directly or indirectly, may help in your investment decisions and also when, as investors, you are seeking to influence the behaviours of the companies in which you invest.

    Of course, I come here as a mere tax administrator, not as a tax policy maker or a financial adviser, let alone a sophisticated investor, so please take my comments in that context!

    The performance of the Australian tax system is fundamentally healthy, but there is more to do

    Firstly, the good news is that the Australian tax system is fundamentally healthy from an administrative perspective and compares very favourably globally. This is due in part to a competent and well-resourced administrator (I would say that!), but also due to the fact that most Australians are fundamentally honest, see the relationship between the taxes they pay and the services they seek from Government, and so willingly comply with their tax obligations (albeit not always exuberantly!).

    This is not just anecdotal: the ATO dedicates significant resources to estimating the ‘tax gap’, which is the difference between the tax payable according to current law and the tax actually collected. Our most recent estimates (published in our annual report each year) are that the overall system is operating at 90% performance at lodgment and 92.5% after compliance activity.

    This also means that the ATO doesn’t just focus on the non-compliant. The ATO puts significant effort into supporting the vast bulk of Australians (from individuals to the largest listed companies) who just want to meet their tax obligations (with as little time, cost and stress as possible) with initiatives like myTax (for individuals with simple affairs), to services for tax agents, to proactive guidance and transparency for the largest taxpayers.

    In relation to large business, despite some commentary that suggests otherwise, overall performance actually exceeds the overall system, but this is after significant dedication of compliance resources. Our estimate of compliance at lodgment is circa 92% to 93%, increasing to 96% after compliance activity. By far the major driver of the large market income tax gap relates to international issues, in particular where intra-group transfers are mis-priced. Our medium to long term aspiration is to move this to 96% correct at lodgment and 98% after compliance activity.

    Although in a good place, there is more to be done:

    • The residual tax gap over the entire tax system is approximately $45 billion, which could pay for a lot of services.
    • In relation to large companies, at least until tax performance at lodgment (92% to 93%) is higher than that of individuals at lodgment (circa 94%), ordinary Australians rightly ask the ATO to hold large companies to account (and indeed it is healthy for overall confidence that the ATO maintains vigilance with large companies regardless of performance level).

    Social licence and the silent ‘T’ in ESG

    Tax is inextricably linked to social licence. In one sense, the tax system is really the ‘sharing rules’ whereby citizens come together to pool resources to fund the things that they cannot achieve by themselves. An individual or company which aggressively avoids (or worse evades) their obligations is effectively repudiating the rules of engagement of that community and puts its social licence at risk.

    I refer to a speech by a colleague of mine, Faith Harako, entitled ‘Tax: the silent T in ESG’. In that paper, Faith noted:

    • at a societal level, tax pays for a lot of the ‘S’ and ‘E’ in ESG (being environment, social and governance): a company may really focus on its own S and E, but if it is not contributing fairly to the overall society’s initiatives, is it really pulling its weight?
    • tax transparency gives confidence to a company’s commitment to the ‘S’
    • corporate tax governance is a very important part of any company’s ‘G’.

    So, to the extent that you, as investors, consider a company’s ESG contribution as relevant to the long-term healthiness, social licence and investability of that company, it is important not to overlook the ‘silent T’.

    Not so relevant today, but Faith also made the point that tax has already addressed many of the challenges of the ‘E’ in ESG and ESG reporting, particularly relating to differences between regimes in different countries.

    Warning signs in financial statements

    If you are interested in the ESG performance of your investee companies, or merely the maintainability of after-tax earnings (accounting or cash), here are a few things (not exhaustive or prescriptive!) that you may wish to consider:

    Low accounting effective tax rate

    A low accounting effective tax rate is not necessarily problematic of itself, but it is important to understand what is driving this, for example:

    • significant operations in low (headline) tax rate jurisdictions (but even then, can that country maintain low effective tax rates?)
    • significant operations in jurisdictions where tax ‘holidays’ are provided (are these maintainable in the longer term?)
    • artificial allocation of profits to low tax rate jurisdictions (‘transfer mis-pricing’) (how long before one or more tax jurisdictions challenges this?) (A big clue to this one is where the company mostly operates in high tax jurisdictions but in its tax note has a substantial reduction in effective tax rate ‘due to overseas operations’.)
    • significant concessions under incentive schemes (e.g. patent box, research and development (R&D)) (are these schemes stable in the longer term in all jurisdictions?)
    • tax arbitrage transactions generating ‘free’ deductions (e.g. intellectual property (IP) migration schemes allowing extra deductions in another jurisdiction for internally generated IP).

    Normal accounting effective tax rate, but low cash tax rate

    Where a profitable company discloses a relatively normal effective tax rate, but is paying minimal cash tax, it is again important to understand the drivers, some examples being:

    • a ‘deferred tax liability’ or ‘DTL’ in relation to income recognised for accounting purposes (but not yet for tax) (if the earnings are not high quality enough for the tax system to tax them, are they high quality enough for your valuation models?)
    • a DTL in relation to assets for accounting purposes which have been deducted for tax (unless there is an explicit accelerated deduction regime) (if the tax system thinks the benefit of the asset has been used enough to allow a deduction, what is the quality of the accounting asset?)
    • a DTL in relation to profit repatriation from a low tax jurisdiction to a high tax jurisdiction (have profits been artificially allocated to (and retained in) low tax jurisdictions, and is this structuring sustainable?)
    • use of deferred tax assets (DTAs) for tax losses (in the best case, the DTAs exist and can be used, but even then the cash flow benefit will be lost when they are exhausted. But how/why did the company generate the tax losses in the first place?).

    Disclosure and accounting for tax disputes

    We have found that disclosure and accounting for tax disputes is often opaque to investors, with different companies taking different approaches to both disclosure and quantification.

    Some things to look out for and perhaps ask for more information from the company:

    • a note under contingent liabilities that there is a dispute but that it is not possible to quantify it at this stage
    • a part payment of an amended assessment has been paid (usually a ‘50%/50%’), but this is accounted for as a current receivable (effectively assuming that the matter will be fully won by the taxpayer) (the history of the ATO’s disputes with large corporates is that matters, even if settled, usually result in at least the 50/50 payment being retained by the ATO)
    • a note that the company has strong legal advice as to their position, and as such has made no provision for the dispute as it is more likely that the company’s position will prevail (again, the ATO’s track record demonstrates that these assertions are often ‘optimistic’)
    • whether there are any ‘buffer’, ‘hollow log’ or ‘tax contingency’ provisions embedded in the current tax provision.

    Sometimes tax disputes are a one-off but more often they are on an on-going issue (e.g. on-going pricing or mis-pricing of intra-group transfers). In these cases, the ATO will usually only settle the ‘back years’ if the ‘forward years’ are also resolved. This will usually result in increased taxation and a higher effective tax rate going forward.

    Sources of insight in addition to financial statements

    In addition to financial statements, over recent times we have seen an increase in tax transparency frameworks and reporting standards globally and in Australia. These frameworks provide further information to the public about the tax contribution and compliance of large business.

    • Known as the corporate tax transparency data, annually the ATO publishes certain limited details (total income, taxable income and tax payable) of all corporate entities with a turnover of more than $100 million. The ATO publishes contextual analysis to explain the data at a population and industry level. We also update Tax and Corporate Australia, which is a guide about the tax landscape for large business operating in Australia.
    • In a similar vein, last year we also published the first annual R&D tax incentive (R&DTI) transparency report providing transparency on the claims made by entities claiming R&D in the 2021–22 income year. Publishing this data encourages voluntary compliance with the requirements of the R&DTI program and increases public awareness of which companies have claimed the tax incentive.
    • From mid-2026, we will see a meaningful increase in the level of tax data published in Australia with the first publication of public country-by-country reports. Introduced by the Government as part of its election 2022 election platform, this is a new reporting regime that will see large multinational enterprises publish selected tax information on a country-by-country basis through an ATO facilitated website. This will allow greater visibility of the global activities of multinationals as well as key tax characteristics such as where they book revenues.
    • Many organisations supplement public information by voluntarily releasing a Tax Transparency Report. Developed by the Board of Taxation (a separate organisation from the ATO), the tax transparency codeExternal Link is designed to encourage greater transparency by the corporate sector and to enhance the community’s understanding of the corporate sector’s compliance with Australia’s tax laws. A number of organisations can be said to have achieved global best practice with their publications and set the standard for their peers, however take-up has been limited – perhaps an opportunity for an ‘if not, why not?’ question at the next AGM!
    • The ATO also voluntarily publishes a raft of information about our programs covering large business. Annually we publish aggregate findings reports for our assurance (justified trust) programs, reportable tax position schedule, advice and disputes. These reports show the level of compliance, prevalence of key tax risks, where we have been able to provide tax certainty for the large market population and insights as to our disputes and how we resolve these. These reports provide deep insights into the state of large business tax compliance and the extent of ATO intervention.

    I also take this opportunity to flag one particular piece of information that could be very useful to companies (and potentially their investors) in understanding where they stand on their tax affairs. Under our ‘justified trust’ program, we provide tax assurance ratings to the largest Australian companies, with both detailed findings and overall ratings. Under taxpayer secrecy rules, the ATO cannot separately publish these ratings, but the companies can. As a result, some leading companies are now publicly disclosing their high assurance ratings, providing confidence to stakeholders such as investors, shareholders, customers and employees. Some high-profile examples include Telstra, BHP, Woolworths, Origin and BUPA. Again, as investors (or potential investors) interested in the sustainability of an investee company’s tax settings, you may wish to ask for further information about a company’s tax assurance rating.

    Conclusion

    In summing up, it is important to understand the starting point, which is that most Australians (including most large Australian companies) are doing the right thing in relation to their tax affairs.

    As investors or potential investors, whether a company is meeting its tax obligations goes to its social licence – I would argue that if a company is not contributing fairly to the community in which it operates, its social licence is at risk, perhaps in unpredictable ways.

    There are a range of information sources from which an investor can glean information as to a company’s tax performance and I have today suggested a few things that you might be interested in looking at and indeed asking of your investee companies.

    Thank you again for the opportunity to present at today’s conference and I welcome your observations or questions.

    MIL OSI News –

    May 12, 2025

  • MIL-OSI USA: Schakowsky Announces She Will Not Seek Re-election in 2026

    Source: United States House of Representatives – Congresswoman Jan Schakowsky (9th District of Illinois)

    CHICAGO – Today, U.S. Representative Jan Schakowsky (IL-09), a Chief Deputy Whip and Ranking Member of the House Energy and Commerce Subcommittee on Commerce, Manufacturing, and Trade, released the following statement announcing her decision not to seek reelection to the U.S. House of Representatives in 2026:

    “For the last 26 years, I have had the distinct honor and privilege of representing the 9th Congressional District of Illinois, my lifelong home and the best district in the nation. Today, it is with profound gratitude and the utmost appreciation for my constituents that I announce my decision not to seek reelection at the end of my current term.

    “I am incredibly proud of the things I have been able to accomplish during my time in Congress. I was honored to help draft and pass the Affordable Care Act, ensuring that Americans could no longer be denied coverage because of pre-existing conditions and providing quality health coverage for millions. I was able to pass consumer protection bills that have saved lives and protected Americans, especially our children, from dangerous products and improved auto safety. I worked hard to protect the well-being of seniors and their families, blocking Republican attempts to privatize Social Security and to improve Medicare and Medicaid by lowering prescription drug prices and expanding access to quality long-term care. I would not have been able to do any of this without the counsel of committed consumer advocates and the continued trust and support of our community.

    “While these legislative wins are important, the most rewarding part of my job has always been engaging directly with constituents in the 9th District. Whether it be a school visit, attending a rally, touring a new small business, or speaking with fellow shoppers at my local Jewel, I have always prioritized and enjoyed meeting with constituents and providing constituent services. I am so proud that I have always had one of the best and most successful constituent service operations in the country. Whether solving problems with health insurers or Medicare, expediting a passport or immigration application, assisting small businesses, not-for-profits, and community colleges with funding requests, helping veterans get their benefits, cutting through red tape to solve Social Security and IRS problems, stopping deportations, and so much more, my team and I have worked diligently each day to advocate and deliver for our constituents.

    “For my entire career, I have made it my mission to mentor and guide the next generation of leaders. In fact, when I talk with students, I do not ask them what they want to be when they grow up, I ask them what they want to do today to make a difference in this world. It is now time for me to pass the baton. We are so fortunate in the 9th District that there are dozens of talented leaders, advocates, and organizers who know our community and who are ready to lead the charge as we fight back against the extreme MAGA agenda and President Donald Trump’s shameful policies.

    “To the people of Illinois’ 9th Congressional District, thank you for allowing me to be your voice in Congress. I have tried to serve you each and every day with the integrity, decency, and fire you deserve. It truly is the honor of a lifetime!

    “To my staff, past and present, I could not have done this without you. Thank you for your dedication, sacrifices, expertise, and smiles. Together, through all those late nights and early mornings, we were able to make a difference. The 9th District of Illinois and our nation are healthier, stronger, and more prosperous because of our hard work.

    “And to my family, thank you for going on this wild journey with me. I am looking forward to spending more family time together as I enter this new chapter of life. I love you.

    “While I will miss serving the people of the 9th District in an elected capacity, I am not going anywhere. For the remainder of my term, and beyond, I vow to continue taking every opportunity possible to fight for my community and my country. I will do everything in my power to secure equal rights for all, an economy that works for everyone, not just the rich, universal health care, reproductive rights, environmental protections and climate security, and so much more. We must all keep the faith, continue to resist, and make our voices heard, because when we fight, we win!”

    ###

    MIL OSI USA News –

    May 12, 2025

  • MIL-OSI USA: Norton Introduces Resolution to Designate May 1, 2025, as “D.C. Statehood Day”

    Source: United States House of Representatives – Congresswoman Eleanor Holmes Norton (District of Columbia)

    WASHINGTON, D.C. – Congresswoman Eleanor Holmes Norton (D-DC) today introduced a resolution expressing support for the designation of May 1, 2025, as “D.C. Statehood Day” and calling for statehood for the District through enactment of her Washington, D.C. Admission Act.

    “Taxation without representation is alive and well in D.C.,” Norton said. “D.C. residents pay the highest federal taxes per capita and more federal taxes than 19 states. D.C. residents have fought and died in every war since the Revolution, and they deserve voting representation in Congress and full local self-government.

    “Highlighting the District’s need for statehood as often as possible only serves to help us reach statehood sooner, and I introduced this resolution to name May 1st, or 5/1, ‘Statehood Day’ for this very reason.”

    The text of the resolution follows.

    H. RES. __

    Recognizing the disenfranchisement of District of Columbia residents, calling for statehood for the District of Columbia through the enactment of the Washington, D.C. Admission Act, and expressing support for the designation of May 1, 2025, as “D.C. Statehood Day”.

    IN THE HOUSE OF REPRESENTATIVES

    Ms. Norton submitted the following resolution; which was referred to the Committee on Oversight and Government Reform

    RESOLUTION

    Recognizing the disenfranchisement of District of Columbia residents, calling for statehood for the District of Columbia through the enactment of the Washington, D.C. Admission Act, and expressing support for the designation of May 1, 2025, as “D.C. Statehood Day”.

    Whereas the United States was founded on the principles of consent of the governed and no taxation without representation;

    Whereas District of Columbia residents are denied voting representation in Congress and full local self-government;

    Whereas the District of Columbia pays more per capita Federal taxes than any State and pays more Federal taxes than 19 States;

    Whereas statehood would give District of Columbia residents voting representation in Congress and full local self-government;

    Whereas Congress has the constitutional authority to pass the District of Columbia statehood bill, the Washington, D.C. Admission Act (H.R. 51 and S. 51), which would admit the State of Washington, Douglass Commonwealth, and reduce the size of the Federal district;

    Whereas the Admissions Clause of the Constitution gives Congress the authority to admit new States, and all 37 new States were admitted by Congress;

    Whereas no State would have to consent to the admission of the State of Washington, Douglass Commonwealth;

    Whereas the District Clause of the Constitution gives Congress plenary authority over the Federal district and establishes a maximum size of the Federal district, but not a minimum size nor a location of the Federal district;

    Whereas the 23d Amendment to the Constitution allows the Federal district to participate in the electoral college, while not establishing a minimum size nor a location of the Federal district;

    Whereas the Constitution does not establish any prerequisites for new States, but Congress has generally considered 3 factors— 

    (1) population and resources;

    (2) support for statehood; and

    (3) commitment to democracy;

    Whereas the District of Columbia has a larger population than 2 States;

    Whereas the District of Columbia has a larger gross domestic product than 15 States and a higher per capita gross domestic product than any State;

    Whereas the District of Columbia has a higher per capita personal income than any State;

    Whereas 86 percent of District of Columbia residents voted for statehood in 2016; and

    Whereas District of Columbia residents have been fighting for voting representation in Congress and full local self-government for more than 200 years: Now, therefore, be it

    Resolved, That the House of Representatives— 

    (1) supports the designation of “D.C. Statehood Day”; and

    (2) calls on Congress to pass the Washington, D.C. Admission Act (H.R. 51 and S. 51).

    ###

    MIL OSI USA News –

    May 11, 2025

  • MIL-OSI Security: Self-Described Pastor Indicted for Sex Trafficking and Forced Labor, and Charged with His Wife for Conspiracy to Commit Forced Labor

    Source: Office of United States Attorneys

    NEWARK, N.J. – An Essex County man who claimed to be a pastor of a church in Orange, New Jersey was indicted on April 25, 2025, for sex trafficking, forced labor, and, along with his wife, conspiring to commit forced labor, U.S. Attorney Alina Habba and Assistant Attorney General Harmeet K. Dhillon of the Justice Department’s Civil Rights Division announced today.

    The indictment, which was unsealed on May 7, 2025, charges Treva Edwards, 60, and Christine Edwards, 63, with conspiracy to commit forced labor. It also charges Treva Edwards with sex trafficking by force, fraud, or coercion and forced labor. Both defendants were arrested on May 7, 2025 and made their initial appearances on May 8, 2025 and were arraigned before U.S. Magistrate Judge André M. Espinosa and were detained.

    “These charges are an example of my office’s tireless commitment to combatting human trafficking in our community.  If you engage in human trafficking, we will find you, and we will prosecute you. We are committed to working alongside our partners to ensure that those who target the most vulnerable are brought to justice.”

    – U.S. Attorney Alina Habba

    “The Department of Justice will not tolerate the exploitation of vulnerable individuals under the guise of faith or community,” said Assistant Attorney General Harmeet K. Dhillon of the Justice Department’s Civil Rights Division. “This Civil Rights Division is committed to holding accountable those who abuse positions of trust to manipulate and control others for personal gain. These charges reflect our unwavering focus on protecting victims and prosecuting those who commit forced labor and sex trafficking.”

    “Treva and Christine Edwards turned a source of hope into a tool of fear by allegedly exploiting religious faith to manipulate victims and expose them to sexual violence and forced labor conditions,” said Special Agent in Charge Ricky J. Patel of HSI Newark Division. “Seeking justice for human trafficking victims in cases like this is of utmost importance to HSI Newark. Anyone who may believe they are a victim of trafficking can be assured our investigations are victim-centered and that we will continue to relentlessly pursue justice for anyone’s freedom that has been held ransom.”

    “An important part of the mission of the U.S. Department of Labor, Office of Inspector General is to investigate allegations of labor trafficking involving the use of coercion or force,” said Special Agent in Charge Jonathan Mellone of the U.S. Department of Labor, Office of Inspector General, Northeast Region. “We will continue to work with our law enforcement partners to investigate these types of allegations.”

    According to the indictment and statements made in court:

    Defendants Treva Edwards and Christine Edwards were the founders and pastors of a church they named “Jesus is Lord by the Holy Ghost,” which they operated out of a multi-unit apartment building in Orange, New Jersey, and where they conspired to coax and coerce vulnerable victims to work with no pay.

    Between 2011 and 2020, the defendants identified and recruited victims who were facing struggles in their personal lives, including financial and familial struggles, to join the church and live and worship at the church building. Treva Edwards told the victims that he was a prophet who could communicate directly with God and that disobeying him would result in spiritual retribution from God, as well as physical, emotional, and financial harm.

    The defendants preached to the victims that it was God’s will for them to work, and that members had to perform labor to serve God. The defendants secured labor contracts to provide manual labor in and around Orange, New Jersey, and the defendants dispatched the victims to perform the contracted labor. The defendants did not pay wages to the victims for their work and kept the money earned from their labor.

    The defendants convinced the victims that they would lose favor with God if they did not perform labor. Treva Edwards spread fear among the victims through verbal and emotional abuse and threats of reputational harm, homelessness, hunger, spiritual retribution, punishments, and more hard labor to gain their obedience and compel them to perform unpaid labor. The defendants instituted and enforced strict rules about when and whether the victims could eat or sleep, when and for how long they were to pray and work, and whether they could speak to non-members or leave the church building. The defendants isolated the victims, monitored their communications and whereabouts, and by convincing them that non-members were evil or possessed by the devil. The defendants deprived the victims of sleep, typically fed them only once a day after they completed their work.

    According to the allegations in the indictment, Treva Edwards controlled and subjected one victim to repeated physical and sexual assaults, impregnated her, and instructed her to get an abortion.

    The charge of sex trafficking by force, fraud, or coercion against Treva Edwards carries a mandatory minimum sentence of 15 years in prison and a maximum penalty of life imprisonment. The forced labor charge against Treva Edwards carries a maximum sentence of twenty years or life imprisonment if the government proves at trial that the violation included aggravated sexual abuse. The conspiracy to commit forced labor charge against both defendants carries a maximum sentence of 20 years in prison.

    U.S. Attorney Alina Habba and Assistant Attorney General Harmeet K. Dhillon of the Justice Department’s Civil Rights Division credited special agents of Homeland Security Investigations Newark, under the direction of Special Agent in Charge Ricky J. Patel and special agents of the U.S. Department of Labor, Office of Inspector General, Northeast Region, under the direction of Special Agent in Charge Jonathan Mellone, with the investigation leading to this indictment.

    This investigation was conducted as part of the U.S. Attorney’s Office for the District of New Jersey’s Human Trafficking Task Force, which was formed in 2025. The Task Force brings together federal and state agencies to collaborate and dedicate resources to combat human trafficking and prosecute human trafficking offenders who endanger the safety of the community. The Human Trafficking Task Force is composed of the U.S. Attorney’s Office, the Federal Bureau of Investigation, U.S. Department of Homeland Security, Homeland Security Investigations, U.S. Department of Labor, U.S. Department of Health and Human Services, Office of Inspector General, and the Internal Revenue Service.

    The government is represented by Assistant U.S. Attorneys Trevor Chenoweth and Susan Millenky, and Trial Attorney Francisco Zornosa of the Civil Rights Division’s Human Trafficking Prosecution Unit.

    HSI is asking anyone with information about the defendants to contact the HSI Human Trafficking Hotline at (866) 347-2423 (option 2), and reference Edwards or Jesus is Lord Church, or to email hsinewarkhumantrafficking@hsi.dhs.gov. If you or someone you know is a victim of human trafficking, please call the National Human Trafficking Hotline at (888) 373-7888.

    The charges and allegations contained in the indictment are merely accusations, and the defendants are presumed innocent unless and until proven guilty.

                                                               ####   

    Defense counsel:

    Treva Edwards: Michael Thomas, Esq., AFPD

    Christine Edwards: F.R. “Chip” Dunne, III, Esq., Hoboken, NJ

    MIL Security OSI –

    May 11, 2025

  • MIL-OSI: Get Quick Cash Loans Online – Easy No Credit Check Same Day Fast Deposit

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, May 10, 2025 (GLOBE NEWSWIRE) — Are you someone running short of money and have some urgent expenses to meet? Do not worry as quick cash loans with easy approval are a great way to get rid of all your fiscal worries. One of the best features associated with this type of personal loan is that a borrower is able to have easy and quick access to the cash despite suffering with a poor credit record. Which actually means that even people with bad credit scores can get a quick cash loan online with guaranteed approval.

    Best Quick Cash Loans Online No Credit Check

    Quick is a word that from time to time hits the mind of every person. If you are in need of emergency cash and cannot wait for the next salary day then this essential word “quick” provides you fiscal help through quick cash loans without credit check. Today there are plenty of direct lenders providing such types of fast cash loans for any purpose. But more and more satisfied borrowers turn to Radiant Cash Loans to get quick easy loans with same day deposits.

    #1 Radiant Cash Loans – offers short-term cash loans up to $5,000 without requiring a credit check. The application process for quick loans is available 24/7, and funds can be deposited into the borrower’s bank account within a few hours. This makes it an excellent choice for those facing urgent financial needs.

    Click Here To APPLY For Quick & Easy Cash Loan Near Me >>

    How Quick And Easy Cash Loans Same Day Deposit Work

    To give you quick cash help, direct lenders of these loans never sleep online. It means that you can raise the benefits from this loan scheme 24 hours and 7 days of the week. Now, if you are wondering about security, do not fret as fast cash loans fall in the category of unsecured loans. That means you are not required to pledge any asset as security with the money-lender.

    Being short term in nature, these loans carry slightly higher interest rates as compared to the standard payday loans. But the utmost advantages are gifted with this no credit check quick cash loan. You can grab hold of the amount ranging from $255 – $1500 without putting your collateral at stake. You can utilize this amount for any short term purposes without any information to the lender.

    The process of obtaining a same day quick cash loan typically involves the following steps:

    1. Application:
      • Borrowers fill out an application form, which can often be done online.
      • Basic personal information, income details, and banking information are usually required.
    2. Approval:
      • Lenders review the application and may perform a credit check, although some quick cash loans do not require this.
      • Approval can be instantaneous, especially for online applications.
    3. Funding:
      • Once approved, funds are disbursed quickly, often within the same day.
      • Borrowers may receive the money via direct deposit or a check.
    4. Repayment:
      • Repayment terms vary, but borrowers typically need to repay the loan within a few weeks to a month.
      • Failure to repay on time can result in additional fees and interest.

    With the help of Radiant Cash you’ll definitely find the various lenders together with their different rates so you can easily select one of them for a feasible rate that fits your personal requirements.

    Click Here To APPLY For Quick Same Day Loan Now >>

    Benefits Of Quick Cash Loans With Easy Application

    As you need the money on an emergency basis, you can surely go for the provision of quick cash loans without any hassle. By obtaining these schemes, you can certainly get the money within the same day of application. And this is the biggest benefit of quick and easy loans online because there is no need to visit physical stores or wait for approval more than 24 hours.

    Also the amount is in fact made obtainable even to applicants irrespective of their credit report. Besides, in order to get the approval here, you are not supposed to give any security or undergo any credit check procedure. As a matter of fact, the entire process takes place online, where all the information required has to be filled up for the processing. With fast cash loans from Radiant Cash, you are allowed to get any amount in the range of $50-$5000 for relatively limited reimbursement tenure of 1- 30 days.

    Types of Quick Cash Loans

    There are several types of quick cash loans available, each with its own characteristics:

    1. Payday Loans:
      • These are short-term loans that are typically due on the borrower’s next payday.
      • Borrowers provide a personal check or authorization for the lender to withdraw funds from their account on the repayment date.
      • They are known for high fees and interest rates.
    2. Personal Loans:
      • These installment loans can be used for various purposes and may have longer repayment terms.
      • They often require a credit check and may offer lower interest rates than payday loans.
    3. Title Loans:
      • Borrowers use their vehicle title as collateral for the loan.
      • These loans can be obtained quickly but carry the risk of losing the vehicle if the loan is not repaid.
    4. Cash Advances:
      • Credit card holders can take out cash advances against their credit limit.
      • These advances usually come with high fees and interest rates.

    In order to fetch the best deal, it is advisable that you do deep home-work before zeroing on a particular bank or lender. This would help you select the deal that is available on low interest rates and easy repayment terms.

    Click Here To APPLY For Quick No Credit Check Loan Now >>

    Requirements For Quick Loans Online

    You should choose these advances, only when you have no other alternative left. It is because of the fact that the borrowed amount is released against a somewhat high rate of interest. However, by doing a good research of the market, you can surely come across lenders offering appropriate deals. And Radiant Cash is here to help.

    But before applying for a quick cash loan online, it’s essential to understand the eligibility requirements. While these can vary by lender, common criteria include:

    1. Age: Must be at least 18 years old in most states.
    2. Employment: A full-time or part-time job is typically required to demonstrate income stability.
    3. Identification: A valid email address and Social Security number are necessary for application processing.
    4. Credit History: While some lenders may perform credit checks, others may offer loans without impacting the borrower’s credit score.

    This makes fast cash loans with guaranteed approval available for everyone online. One gets to choose the best deal online with the lowest interest rates as there are innumerable lenders and other financial institutions over the web.

    Since, the online process involves less paperwork and lengthy procedures, the borrower should make efficient use of this process. At the same time, it saves a lot of time and effort. He should be aware of the fact that the advanced amount should be repaid on time or he may be charged a late fee.

    Click Here To APPLY For Quick And Easy Loan Now >>

    How To Apply For Quick Cash Loans With Bad Credit

    Quick cash loans are very easy to apply and obtain even for borrowers with bad credit. As the name suggests these loans are quick cash help. A borrower has to just fill in an application form and once it is approved, the whole loan application will be completed very quickly. The amount of such loans is never fixed. Mostly it remains around 1000 dollars. The loan period is also not fixed. It may go from a few days to a few weeks.

    Applying for a quick cash loan can be straightforward if you follow these steps:

    Step 1: Research Lenders

    Start by researching various lenders to find the best terms and interest rates. Radiant Cash provides access to the most reputable options available today. Some of them offer a simple, three-step online application process with amounts ranging from $50 to $5,000 and provide emergency quick loans without affecting your credit score.

    Step 2: Gather Necessary Documents

    Prepare the required documentation, which may include:

    • Proof of income (pay stubs or bank statements)
    • Identification (driver’s license or state ID)
    • Social Security number

    Step 3: Complete the Application

    Most lenders offer online applications that are user-friendly. Fill out the application form with accurate information, ensuring all required fields are completed.

    Step 4: Review Loan Terms

    Once approved, carefully review the loan terms, including interest rates, repayment schedules, and any fees associated with the loan. It’s crucial to understand the total cost of borrowing before accepting the no credit check quick loan.

    Step 5: Receive Funds

    After accepting the loan, funds are typically deposited directly into the borrower’s bank account, often within one business day or even the same day, depending on the lender.

    Currently these loans are offered only to the permanent citizens of the USA. A person should be above 18 years of age if he or she wants to go for such fast loans. He or she should also have a valid bank account in the USA. It is this bank account which will be credited by the loan amount once it is approved. Overall these are very helpful quick approval loans.

    Radiant Cash makes the application process even more transparent, fast and simple. All you have to do is provide some basic information about yourself and the loan amount you would like to get. After that one of our direct lenders will review and approve your quick loan request and the money will be deposited to your bank account the same business day.

    Click Here To APPLY For Quick Cash Loan Now >>

    Frequently Asked Questions

    1. What are quick cash loans?

    Quick cash loans for bad credit are short-term loans designed to provide fast access to funds for urgent expenses. They typically have fast approval processes and may be available within the same day or next business day.

    2. How do fast cash loans work?

    Borrowers apply online or at physical locations, and upon approval, receive funds quickly. These loans often have higher interest rates and must be repaid within weeks or months depending on the lender.

    3. Who qualifies for a quick easy loan?

    Most lenders require borrowers to:

    • Be at least 18 years old.
    • Have proof of income or employment.
    • Possess a valid checking account.
    • Reside in a state where the lender operates.

    4. How fast can I get a quick cash loan?

    Some lenders offer same-day funding, while others deposit funds within 24 to 48 hours. The speed depends on the lender and the method of funding.

    5. What are the interest rates for fast cash loans?

    Interest rates vary widely. Some loans may have APR as high as 100% to 400%, depending on the lender and the borrower’s credit profile.

    6. Can I get a quick cash loan with bad credit?

    Yes, many lenders approve borrowers with low or poor credit. However, expect higher interest rates and stricter repayment terms.

    7. What are the risks of quick cash loans?

    • High interest rates – Can lead to expensive repayments.
    • Short repayment terms – Some loans require full repayment within weeks.
    • Debt cycle – Borrowers may struggle to repay, leading to repeated borrowing.

    8. What are alternatives to quick easy loans?

    • Personal loans – Some lenders offer better terms.
    • Credit unions – Provide lower-cost loan options.
    • Employer paycheck advances – Some workplaces offer emergency payroll advances.

    9. Do quick cash loans help build credit?

    Most lenders do not report payments to credit bureaus, so they generally do not improve credit scores. Some installment loan lenders may report payment history.

    10. How can I find a reputable quick cash lender?

    Look for lenders who:

    • Clearly disclose fees and repayment terms.
    • Have positive reviews and a history of ethical lending.
    • Are licensed to operate legally in your state.

    Conclusion

    Quick cash loans offer immediate help within a very small time during an emergency to meet your urgent or short term need. One of the reasons to get rapid approval is online availability. The Internet gives the facility to apply from anywhere in the USA with no tension. A simple application form is required to fill and approval will not get delayed. So what are you waiting for? Apply with Radiant Cash and get a quick easy loan with a fast cash deposit now!

    Click Here To APPLY For Quick Loan Now >>

    Radiant Cash

    Laura Brown
    laura@radiantcashs.com
    https://www.radiantcashs.com
    9620 Las Vegas Blvd S #Ste 569 | Las Vegas, NV 89123

    Disclaimer: This announcement contains general information about Radiant Cash services and should not be considered financial advice. Radiant Cash services does not guarantee loan approval, and loan terms may vary by applicant and lender requirements. Loans are available to U.S. residents only.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d5a24aa1-e379-4a23-ae90-cbbd19d9a835

    The MIL Network –

    May 10, 2025

  • MIL-OSI USA: Unlocking homeownership: A bipartisan approach to building affordable housing

    Source: United States House of Representatives – Congressman John Larson (1st District of Connecticut)

    Rep. Larson co-authored the following op-ed with Rep. Mike Kelly (PA-16) that appeared in The Hill:

    Erie, Pa. and Hartford, Conn. share much in common — snowy winters, growing technology sectors and, like many other communities across the nation, a pressing need for more affordable homeownership opportunities. 

    In cities like Erie and Hartford — which we proudly represent in Congress — as well as dozens of other older industrial cities, we’re witnessing block after block of aging homes deteriorating within a stone’s throw of burgeoning commercial districts. In east Erie, nearly 20 percent of properties are classified as being in poor or unsound condition, with another 37 percent showing the beginnings of disinvestment or neglect.

    The intertwined issues of blight, vacancy and an aging housing stock are not unique to older northeastern cities. They represent a truly national crisis, affecting cities from St. Louis and Detroit to Fresno and Jacksonville, from Baltimore to Birmingham and Charlotte. These challenges hit particularly hard in rural communities that have been suffering with outmigration and years of disinvestment.  

    Simultaneously, the U.S. is vastly underproducing housing. By some estimates, there is a shortage of 4 million homes. With construction costs on the rise and mortgage rates still high, it is exceedingly difficult to build homes that are affordable for lower- and middle-income families.

    The cost of inaction is severe for American families and local economies everywhere. Many families find it challenging to secure a home they can afford to buy, making it harder to build wealth. Moreover, existing homeowners often face extensive repair needs. In order to reverse the United States’ declining homeownership rate, we must build new homes that Americans can afford to own and make repairs to existing housing across the country.

    That’s why we proudly lead the Neighborhood Homes Investment Act in Congress. This bipartisan legislation would create a new tax credit to bridge the gap between the cost of building or repairing a home and the home’s value once it is built. By addressing this “value gap,” developers would be incentivized to build and renovate tens of thousands of homes annually in struggling urban and rural communities, helping to revitalize these areas while making homeownership accessible for many first-time homebuyers. 

    Our Neighborhood Homes proposal also utilizes a successful public-private partnership model to target communities in the greatest need, especially rural areas and those with high poverty rates. By partnering with the private sector, our bill could result in 500,000 new or rehabilitated homes over the next decade, while also creating good-paying jobs in construction and related industries.

    As Congress prepares tax legislation for 2025, we have a rare opportunity for bipartisan action to address our affordable housing crisis and narrow our country’s staggering homeownership gap. The need to keep our neighborhoods safe, vibrant and economically robust transcends party lines. More than 100 members of Congress from both parties supported the Neighborhood Homes Investment Act last Congress, and the bill has been endorsed by a broad coalition of industry and housing trade groups, state housing finance agencies, neighborhood redevelopment organizations, and both nonprofit and for-profit housing developers.

    We have just reintroduced the bill and now it’s time to take it across the finish line. Americans deserve more affordable homeownership opportunities, and many neighborhoods require investments to thrive. We must pass the Neighborhood Homes Investment Act. 

    U.S. Reps. Mike Kelly (R-Pa.) and John Larson (D-Conn.) are the co-leads of the bipartisan Neighborhood Homes Improvement Act. Kelly serves as chairman of the Ways and Means Subcommittee on Tax, and Larson serves as ranking member of the Ways and Means Subcommittee on Social Security.

    MIL OSI USA News –

    May 10, 2025

  • MIL-OSI USA: Rep. Neguse Slams Natural Resource Republicans’ Late-Night Move to Add Public Land Sales to Reconciliation Bill: “I don’t think that’s the way to do business in the House.”

    Source: United States House of Representatives – Congressman Joe Neguse (D-Co 2)

    Washington, D.C. — In case you missed it, during Tuesday’s House Natural Resources Committee 13 hour markup on the budget reconciliation bill, Republicans moved to add a late-night, last-minute amendment to the legislation that would order the sale of thousands of acres of public lands in Nevada and Utah. Revenue from the auctioning off of these shared spaces, coupled with proposed cuts to critical programs like Medicaid and Social Security, lay the groundwork for the implementation of President Donald Trump’s radical agenda, which includes a $7 trillion tax giveaway to billionaires and big corporations.  

    Congressman Joe Neguse, Ranking Member of the Subcommittee on Federal Lands, immediately reacted to this disastrous proposal.  

    Watch Rep. Neguse’s remarks HERE. 

    Highlights from Rep. Neguse’s exchange with Committee Republicans below: 

    NEGUSE: A couple of quick questions. One, I would just say, more broadly, for the better part of the last 11 hours, I suppose, we’ve been making the case here on this side of the aisle—13 hours, I stand corrected—that the Republican reconciliation bill, plans to sell off our public lands. Lo and behold, at 11:00pm ET, we finally get an amendment. Does precisely what we said this bill would do. But the question I have, a very simple one. And I think I know the answer from Mrs. Malloy, but I’m not so sure about Mr. Amodei. Ms. Malloy, do you represent the areas in this bill in Utah, Washington County and Saint George that you would like to have those lands conveyed? 

    REP. MALOY (UT-02): I do.  

    NEGUSE: Okay. Thank you. And this isn’t meant to be a gotcha. I’m actually trying–you all proposed this amendment, so we’re considering it. Mr. Amodei, do you represent Clark County? 

    REP. AMODEI (NV-02): I do not represent Clark County, but I have been asked by the Clark County Commission to introduce the bill on their behalf as a member of the majority in the House of Representatives.

    NEGUSE: So, you, just to be clear, for all of your Republican colleagues, because I’ve sat on this dais year after year and been lectured by my colleagues on other side of the aisle about how important it is to engage your colleagues who represent areas that may be at issue in a particular bill. You don’t represent Clark County. There are multiple other Nevada representatives who do. 

    Mr. Horsford represents this area. Mrs. Lee represents this area. Mrs. Titus represents this area. And I don’t think that we should proceed in considering the amendment until we’ve had an opportunity to hear from them about whether or not they believe that these lands ought to be conveyed. I think that’s a fair request. I think you’d feel the same way.

    If any number of the counties that you represent, in western Nevada were at issue in this bill. Is that an unreasonable request? 

    AMODEI: Well, I don’t know how it works in Colorado, sir, but I can tell you, in Nevada, we all talk frequently, and this is not going to come as a surprise to any of them. Please feel free to consult them as you see fit—-  

    NEGUSE: They support this? They support this amendment? 

    AMODEI: They are aware of the—

    NEGUSE: They’re aware of it?  

    AMODEI: Don’t put words in my mouth. 

    NEGUSE: I’m asking you. I’m not putting words. I’m asking you. I’m saying, are they supportive of this amendment? You haven’t asked your colleagues in Nevada whether or not they support the conveyance of land in their district, not yours.

    AMODEI: The answer to your question is no. 

    NEGUSE: Yeah, well, I think it is deeply irresponsible to put forth an amendment, and I don’t take issue, by the way, I might have disagreements on the merits with Ms. Malloy with respect to the amendment, but I understand her desire on behalf of her constituents to move forward with this amendment. But I would think, at a minimum, Mr. Amodei, that you would do your colleagues in Nevada the courtesy of at least striking that language regarding Clark County, engage with your three other colleagues before this gets to the floor and then have a conversation with them. But to basically say to them that they have no say as to what happens with respect to land conveyances in their congressional districts, I think is a slippery slope.

    And I just I would hope that my colleagues and Mr. Chairman in particular, I would hope that you would consider that as you weigh this amendment. I really in good faith, I would hope that you would consider at least striking that provision so that you can give those other members of Congress an opportunity to weigh in here, at least be heard, as opposed to an a 11:00 pm ET last-minute amendment that they’re just finding out about right now as we’re texting them.

    I don’t think that’s the way to do business in the House. 

    ###

    MIL OSI USA News –

    May 10, 2025

  • MIL-OSI USA: Media Advisory – Hawaiʻi Community Correctional Center To Host First Resource Fair For Incarcerated Men and Women

    Source: US State of Hawaii

    Media Advisory – Hawaiʻi Community Correctional Center To Host First Resource Fair For Incarcerated Men and Women

    Posted on May 8, 2025 in Latest Department News, Newsroom

     

    STATE OF HAWAIʻI

    KA MOKU ʻĀINA O HAWAIʻI

     

    JOSH GREEN, M.D.

    GOVERNOR

    KE KIAʻĀINA

     

    DEPARTMENT OF CORRECTIONS AND REHABILITATION

    KA ‘OIHANA HOʻOMALU KALAIMA A HOʻOPONOPONO OLA

     

    TOMMY JOHNSON

    DIRECTOR

    KA LUNA HO‘OKELE

     

     

    HAWAIʻI COMMUNITY CORRECTIONAL CENTER TO HOST FIRST RESOURCE FAIR FOR INCARCERATED MEN AND WOMEN

     

    MEDIA ADVISORY

     

    What: The Hawai’i Community Correctional Center is hosting its first reintegration resource fair for men and women housed at the Hale Nani Facility on Hawaiʻi island.

    Several organizations will be available to provide information offering support services to inmates to help them transition back into the community.

    Participating vendors include Goodwill Hawaiʻi, Kumukahi Health and Wellness, Going Home Hawaiʻi, Big Island Substance Abuse Council, Hawaiʻi County Vehicle Registration & Licensing, American Job Center Hawaiʻi, Hawaiʻi Community College of Hilo and Hope Services Hawaiʻi.

    When: 8 a.m. to 3 p.m. Thursday, May 15, 2025

    Where: Hale Nani Correctional Facility, 3900 Kanoelehua Ave., Hilo

    Who:

    • Director Tommy Johnson of the Department of Corrections and Rehabilitation
    • DCR Deputy Director Sanna Muñoz of the Rehabilitation Services and Programs Division
    • Hawaiʻi Community Correctional Center Warden Cramer Mahoe
    • Hawaiʻi County Mayor Kimo Alameda
    • Men and women housed at Hale Nani Correctional Facility

     

    If your news organization plans to attend the event, please RSVP with the full names, dates of birth and Social Security numbers of the reporter and photographer to [email protected] by noon Monday, May 12, 2025.

    RSVPs and background information are required and must be submitted by noon May 12, 2025, to conduct background checks and security clearances.

    Those who do not RSVP and submit the required information will not be granted access to HCCC.

    Thank you.

     

     

    # # #

     

     

     

     

    Media Contact:

    Rosemarie Bernardo

    Public Information Officer

    Hawai‘i Department of Corrections and Rehabilitation

    Office: 808-587-1358

    Cell: 808-683-5507

    Email: [email protected]

    Website: https://dcr.hawaii.gov

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    MIL OSI USA News –

    May 10, 2025

  • MIL-OSI USA: Judge Blocks Unconstitutional Reorganization of Federal Government

    Source: American Federation of State, County and Municipal Employees Union

    Case Reflects Largest and Most Significant Challenge to President’s Authority to Remake Government without Congressional Approval

    Washington, D.C. – The U.S. District Court for the Northern District of California San Francisco Division today issued a temporary restraining order to block the Trump administration’s unlawful reorganization of the federal government. The coalition bringing the motion includes nationwide labor unions, non-profit organizations, and cities and counties in California, Illinois, Maryland, Texas, and Washington, and is represented by lead co-counsel Democracy Forward and Altshuler Berzon LLP, Protect Democracy, Public Rights Project, and Democracy Defenders Fund.

    AFGE v. Trump argues that the Trump administration’s unlawful reorganization of the federal government, which is already underway without legislative authority, violates the Constitution’s fundamental separation of powers principles.

    The coalition includes the American Federation of Government Employees (AFGE) and four AFGE locals; American Federation of State, County and Municipal Employees (AFSCME); Service Employees International Union (SEIU) and SEIU Local 1000; Alliance for Retired Americans; American Geophysical Union; American Public Health Association; Center for Taxpayer Rights; Coalition to Protect America’s National Parks; Common Defense; Main Street Alliance; NRDC (Natural Resources Defense Council); Northeast Organic Farming Association Inc.; VoteVets; Western Watersheds Project; City and County of San Francisco, California; County of Santa Clara, California; City of Chicago, Illinois; City of Baltimore, Maryland; Harris County, Texas; and King County, Washington.

    “The Trump administration’s unlawful attempt to reorganize the federal government has thrown agencies into chaos, disrupting critical services provided across our nation. Each of us represents communities deeply invested in the efficiency of the federal government – laying off federal employees and reorganizing government functions haphazardly does not achieve that. We are gratified by the court’s decision today to pause these harmful actions while our case proceeds.”

    Read the complaint here and the temporary restraining order here.

    “Billionaires and anti-union extremists have launched a hostile takeover of government – unlawfully bypassing Congress to shut down and restructure agencies. These actions threaten the public services that AFSCME members provide at every level of government. We are pleased that the court issued a decision today to pause these devastating attacks and bring relief to public service workers and our communities as our case moves forward,” said AFSCME President Lee Saunders.

    MIL OSI USA News –

    May 10, 2025

  • MIL-OSI USA: Grassley, Budd Introduce Legislation to Empower Vocational Students, Unlock Workforce Potential

    US Senate News:

    Source: United States Senator for Iowa Chuck Grassley
    WASHINGTON – Sen. Chuck Grassley (R-Iowa) and Sen. Ted Budd (R-N.C.) introduced the Promoting Employment and Lifelong Learning (PELL) Act to expand Pell Grant eligibility to short-term, technical training programs. This legislation would make available financial assistance for low-income students looking to pursue in-demand and high-paying careers in skilled trades. 
    “Too many students are pushed into debt seeking a four-year degree that doesn’t suit job market demands. That needs to change. Our legislation will expand access to high-quality, short-term job training programs to close the skills gap, reduce college debt and ensure more students can enter the workforce in high-demand industries,” Grassley said.
    “We cannot build tomorrow’s workforce based on the blueprint for yesterday’s economy. By modernizing Pell Grant eligibility, we can open the door for millions of Americans to gain in-demand skills, while creating more family-sustaining careers. In as little as eight weeks, students can earn industry-recognized credentials and practical knowledge – the real currency of today’s labor market. It’s time to build a workforce strategy as modern and dynamic as the economy we’re preparing it for,” Budd said.
    Grassley and Budd are joined by Sens. Dave McCormick (R-Pa.), Pete Ricketts (R-Neb.) and Jim Justice (R-W.Va.).
    The PELL Act served as the original framework for the House of Representatives’ Student Success and Taxpayer Savings Plan, which was recently included in the House Committee on Education and the Workforce’s reconciliation bill.
    Read the full bill text HERE.
    -30-

    MIL OSI USA News –

    May 10, 2025

  • MIL-OSI USA: Cantwell, Colleagues Blast GOP for Proposing to Gut Funding for Meals on Wheels, Head Start, and Safety Net Programs to Fund Tax Cuts for Billionaires

    US Senate News:

    Source: United States Senator for Washington Maria Cantwell

    05.09.25

    Cantwell, Colleagues Blast GOP for Proposing to Gut Funding for Meals on Wheels, Head Start, and Safety Net Programs to Fund Tax Cuts for Billionaires

    Nearly 50,000 seniors in WA rely on Meals on Wheels and 33,000 low-income families could lose TANF assistance under GOP budget

    WASHINGTON, D.C. – Today, U.S. Senator Maria Cantwell (D-WA), ranking member of the Senate Committee on Commerce, Science, and Transportation and senior member of the Senate Committee on Finance, joined the entire Senate Democratic caucus in sending an open letter to the American public warning that Congressional Republicans are trying to cut funding for safety net programs like Meals on Wheels, Head Start, and others to fund tax cuts for billionaires.

    Republican Senators are currently writing legislation that will give a tax break to the wealthiest by ripping away programs American seniors, children, and working families rely on. Republicans have targeted two essential funding sources for social services programs—Temporary Assistance for Needy Families (TANF) and the Social Services Block Grant (SSBG) —putting nearly 25 million children, seniors, and families at risk across the country. 

    “We write to make our position on this legislation perfectly clear: Congress should not give tax breaks to the wealthiest Americans by ripping away programs that almost 25 million Americans – close to 50% of whom are children – rely on for basic needs,” the Senators wrote to the American public. 

    “Earlier this month, Congressional Republicans in the U.S. House of Representatives and U.S. Senate passed a budget that sets the stage for existential cuts to the safety net. Republican leaders claim they have no plans to eliminate essential services, but tens of billions in catastrophic cuts to these programs appeared on Republicans’ published wish list, alongside cuts to Medicaid and SNAP,” the Senators continued. “State and local leaders confirm that eliminating SSBG and TANF would reduce programs that serve our most vulnerable as states and localities are already operating under tight budget constraints.” 

    Any cuts to these programs would have devastating effects on Washingtonians;

    The Senators’ letter concludes: “Right now, Republicans are writing the most consequential legislation contemplated in decades entirely behind closed doors. That’s because Trump and Congressional Republicans must hide the ugly truth – their legislation feeds corporate and wealthy individuals’ greed by abandoning vulnerable children, starving seniors, and cutting off families in need. You, your family, and your neighbors deserve far better. Democrats are fighting to protect your communities from Republican cuts. Join us and keep up the fight.” 

    The full letter is available HERE.

    MIL OSI USA News –

    May 10, 2025

  • MIL-OSI Australia: Ways you can help a vulnerable person in Canberra

    Source: Northern Territory Police and Fire Services

    In brief:

    • There are many Canberrans who can do with a helping hand.
    • The ACT has many services and initiatives that may be of benefit, whatever the situation.
    • This article features a list of some of these services.

    There are many vulnerable people in our community. Perhaps you know someone who is:

    • at risk
    • chronically unwell
    • unhappy, lonely or isolated
    • elderly or frail
    • facing financial difficulty
    • new to Canberra.

    Whether it’s a family member, neighbour or colleague you’re concerned about, reaching out is a great first step.

    Where relevant, you could help them make a call or fill out a form. You could even go along to an appointment or event with them.

    The list of services below is not exhaustive but may benefit someone you know. Most are free or low cost.

    Help with day-to-day living

    Eligible ACT residents who cannot take their bins out to the kerb, due to chronic illness, frail age or disability, can apply to have this done for them.

    A Companion Card allows people with significant and permanent disabilities to bring a companion for free to certain events and venues.

    Canberrans having difficulty paying for groceries can visit Communities at Work pantries for discounted food and other essentials.

    Communities at Work also provides free clothing, shoes and accessories for job interviews, court, funerals and other important events.

    Canberrans can access free period products throughout the ACT.

    Find more information on cost-of-living assistance.

    Help with transport

    Community bus services are for ACT residents who find it hard to use other forms of transport. They run from Monday to Friday and have flexible routes.

    The ACT Taxi Subsidy Scheme provides financial help to ACT residents with a disability or significant mobility restriction that prevents them from using public and community transport.

    Transport Canberra’s Flexible Bus Service helps Canberrans, such as the aged or people with mobility difficulties, get from their home to local community locations. Booking is required. Carers with a valid carers card are also welcome to travel.

    Special needs transport is available for eligible students. Please check the application open dates and guidelines in advance.

    The Aboriginal and Torres Strait Islander bus service provides opportunities for Aboriginal and Torres Strait Islanders to connect with their communities and culture in the ACT and surrounding regions.

    More information regarding bus operating and booking hours, eligibility and guidelines for all services is available on Transport Canberra’s website.

    The Fitness to Drive Medical Clinic assesses fitness to drive a motor vehicle.

    Help with health care and wellbeing

    Mobile dental clinics Mobile Dental Clinics are an additional service for aged, school children and vulnerable Canberrans to access dental care in the community.

    Canberrans can access short term loan equipment via the ACT Equipment Loan Service. This is available on referral and includes:

    • mobility aids
    • hoists
    • wheelchairs
    • hospital beds and more.

    This free, short-term service is for anyone being discharged from hospital and for ACT residents needing rehab or to trial equipment.

    Eligible Canberrans with a lifelong or long-term disability  may be able to  access the ACT Equipment Scheme. The scheme can provide long term loan equipment that will help people live at home safely.

    Know someone who already has a mobility aid or appliance? Why not remind them they can have it serviced or repaired through the Clinical Technology Workshop?

    Anyone needing a walking aid can reach out to the Walking Aid Clinic.

    The Canberra Sexual Health Centre offers all Canberrans aged 14 and over professional care without judgment.

    Help is available to Canberrans who have experienced a change in their ability to carry out everyday activities due to a medical or health condition or disability. Brindabella Day and Ambulatory Rehabilitation Service provides a range of rehabilitation therapies.

    Community Care Nursing can assist people with a range of conditions and healthcare needs. It can also be accessed in the home, if medically necessary. Nursing services include wound care, medication management and more.

    Nutrition is a key part of health and wellbeing. The Community Care Nutrition Service offers specialised nutrition services to adults. As well as general healthy eating and nutrition support, the service can advise on chronic health conditions.

    The Liaison and Navigation Service helps adults with complex needs navigate health and other services.

    Adults with a chronic health condition affecting their quality of life may benefit from the Take Control – Live Well program. The three-week program helps people gain the skills and confidence to:

    • take control of their condition/s
    • reach health goals
    • make connections.

    Other services available include:

    You can find a range of other services on the Canberra Health Services website.

    Help to reduce loneliness

    Social isolation and loneliness can be harmful to mental and physical health. Visiting people or inviting them places can be extremely helpful. There is also a variety of ways people can meet others or find a new interest.

    Volunteering can be a great way to find connection and purpose. Canberrans looking for volunteering opportunities, workshops and advice can contact VolunteeringACT.

    There are lots of events happening every day on the Meetup website. From bushwalking to trivia, book clubs to dancing, there’s something to suit every interest.

    Older Canberrans could consider getting involved in an Intergenerational Playgroup through ACT Playgroups. These can help isolated residents and parents to connect.

    Social enterprise Café Stepping Stone runs various events at its Dickson and Strathnairn locations.

    There are also plenty of weird and wacky sports to consider. This is a great way of trying something new and meeting new people at the same time.

    Work-related help

    ACT Women’s Return to Work workshops support women and gender diverse people returning to the workforce with grants and advice on next steps.

    There is a free office skills course and ACT Government work placement for culturally and linguistically diverse Canberrans seeking meaningful employment.

    The ACT Government can help veterans transition from employment in the Australian Defence Force to the ACT Government.

    The RSL Veterans’ Employment Program is a free program helping veterans, family members and partners to find rewarding work.

    Canberrans with a business can get free business support from the Access Canberra Business Assist Team. They can help you understand permits, licenses and approvals.

    The Women’s Legal Centre ACT offers free legal advice to women in low-paid and/or precarious employment who are experiencing problems at work.

    Crisis help

    There is help for those who have experienced domestic and family violence.

    Through a range of support services, Canberrans can apply for financial support following domestic and family violence.

    Canberrans can get help to plan for safety, support children, find accommodation, sort out finances, take legal action and stay safe online.

    Tenants experiencing domestic and family violence can also break a rental lease immediately, if needed.

    There is support available to understand legal options in these circumstances.

    Find more on domestic, family and sexual violence services.

    Communities at Work Crisis Support can give immediate help with food, medical scripts and other essential supports. They can also provide:

    • bus tickets
    • phone vouchers and charging
    • showers
    • hygiene products
    • information and referral services.

    If you know someone who is homeless or at risk of becoming homeless, there is help available. Find out about more services that can help with finding a safe place to stay, getting a free meal, having a shower or doing laundry.

    There are a number of ways you can get help for your mental health in the ACT.

    If you are in crisis or need support after hours, contact:

    If you or a loved one are in an unsafe or life-threatening situation, call triple 000 immediately.

    More avenues for help include:

    Read more like this

    Get ACT news and events delivered straight to your inbox, sign up to our email newsletter:


    MIL OSI News –

    May 10, 2025

  • MIL-OSI USA: During National Small Business Week, Ranking Member Markey Convenes Field Hearing, Releases Report Detailing Trump Assault on Small Businesses and the Clean Energy Economy

    US Senate News:

    Source: United States Senator for Massachusetts Ed Markey
    REPORT: Pulling the Plug: How Trump’s Attacks on Clean Energy Could Turn out the Lights for Small Business
    Boston (May 9, 2025) – During National Small Business Week, Senate Small Business and Entrepreneurship Committee Ranking Member Edward J. Markey (D-Mass.) today led a field hearing in Boston with Massachusetts clean energy leaders to examine the role that small businesses play in the clean energy economy, the importance of continuing federal investments that support the clean energy transition, and the impacts of tariffs from Trump’s chaotic trade war on small businesses.
    Ranking Member Markey also released a report titled “Pulling the Plug: How Trump’s Attacks on Clean Energy Could Turn out the Lights for Small Business,” which details how federal investments support clean energy small businesses, and how the Trump administration’s efforts to roll back federal clean energy investments, especially those created and expanded by the Inflation Reduction Act (IRA), will devastate small businesses in the clean energy economy.
    “Clean energy is one of the fastest growing industries in the United States, and Massachusetts is leading the way,” said Ranking Member Markey. “In our state, the clean energy economy supports more than 100,000 direct jobs. Our clean energy transition isn’t just about mitigating the devastating impacts of the climate crisis—it is about building an economy with accessible, good-paying jobs, and it is about centering justice. I convened today’s field hearing with Massachusetts clean energy leaders and released my report because our path to a just, livable future for all runs through small businesses.”
    Key findings from Ranking Member Markey’s report include:
    Small businesses account for a significant portion of clean energy jobs in the United States, with 75 percent of energy efficiency workers employed by companies with 20 or fewer employees. 
    In Massachusetts, there are more than 100,000 direct clean energy jobs. More than half of the 7,300 clean energy businesses in the Commonwealth are small firms with 10 or fewer employees; more than 80 percent have fewer than 50 employees.
    The Trump administration is undercutting programs critical for small businesses, including freezing Environmental Protection Agency (EPA) and United States Department of Agriculture (USDA) funding, and reinstating caps on Small Business Administration (SBA) 504 Loans which finance improvements that reduce small business energy costs.
    The April 2025 Trump Tariffs limit deployment of clean energy, including solar, driving up costs for small- and mid-sized installers and making it harder for them to compete.
    Thousands of rural businesses completed clean energy projects expecting reimbursement through the Rural Energy for America Program (REAP) program, only to have their funding withheld.
    Firms surveyed in 2024 reported concerns they would lose business or be forced to close as a direct result of an IRA repeal.
    Repealing federal clean energy tax credits and funding could threaten or eliminate thousands of jobs and could cost the U.S. $160 billion in lost GDP.
    The Massachusetts clean energy leaders who joined Ranking Member Markey at today’s field hearing emphasized the importance of investing in small businesses and growing the clean energy economy.
    “With over 115,000 workers driving the growth of our clean energy sector, Massachusetts is proving that clean energy and economic growth go hand-in-hand. Small businesses are at the heart of this transformation—creating jobs, improving lives, and building a cleaner, more secure future,” said Dr. Emily Reichert, CEO of the Massachusetts Clean Energy Center. “By investing in small businesses and workforce development, we can ensure that Massachusetts remains a leader in climate innovation and continues to offer meaningful opportunities for all of our residents.”
    “We are already witnessing significant solar project delays and cancelations as a result of the uncertainty brought on by talk of tariffs and the possible repeal of tax credits,” said Nick d’Arbeloff, President of the Solar Energy Business Association of New England (SEBANE). “If the [Investment Tax Credit] is, in fact, eliminated and the tariffs move ahead as planned, more than a few of our small business member companies have indicated they will be forced to significantly reduce their workforce or close their doors entirely.”
    “Franklin Cummings Tech prepares graduates for well-paying, in-demand jobs by aligning the skills we teach with the immediate needs of the job market and society. The Center for Energy Efficiency and the Trades (CEET) is a perfect example of this model in action, bringing a focus on sustainability and renewable energy across the college’s technical programs. Our efforts received a tremendous boost when Senator Markey and Senator Warren facilitated the $800,000 grant to Franklin Cummings Tech through the Department of Labor, bringing greater resources and structure to the CEET program,” said Dr. Aisha Francis, President and CEO of Benjamin Franklin Cummings Institute of Technology.
    “Small businesses are the backbone of America’s clean energy transformation. For small businesses nationwide, consistent policy support is essential; without it, we risk stalling the remarkable progress we’ve made in building America’s clean energy future. At SparkCharge, we see firsthand how federal initiatives empower innovation, create jobs, and drive sustainable growth. Clear policies and stable federal support ensure that American small businesses can lead the world in clean energy solutions, strengthening both our local communities here in Massachusetts and the broader economy across the United States,” said Josh Aviv, Founder and CEO of SparkCharge.
    During National Small Business Week, Ranking Member Markey, along with members of the Senate Committee on Small Business and Entrepreneurship and Senate Democrats participated in several media opportunities to highlight the urgency of supporting U.S. small business owners and entrepreneurs in the face of Trump’s reckless tariff policies and continued chaos and cuts at the SBA.
    Yesterday, Ranking Member Markey held a virtual listening session with small business owners in Massachusetts and owners who serve the Commonwealth on the devastating impacts of the Trump Tariffs.
    Earlier this week, Ranking Member Markey, alongside Senate Democratic Leader Chuck Schumer (D-N.Y.) and Senator Mazie Hirono (D-HI) introduced the Small Business Liberation Act, legislation that would exempt the more than 34 million U.S. small businesses from the reckless Trump Tariffs that are wreaking havoc on their businesses and the U.S. economy.
    Ranking Member Markey recently wrote to Small Business Administrator Loeffler, Commerce Secretary Howard Lutnick, and U.S. Trade Representative Jamieson Greer, calling on the Trump administration to exempt U.S. small businesses from the reckless Trump Tariffs and afford them the same relief that the administration is giving billion-dollar tech giants such as Apple and Google.
    Previously, Ranking Member Markey, along with Democratic Leader Chuck Schumer (D-N.Y.) and all Democrats on the Senate Small Business and Entrepreneurship Committee wrote to Administrator Loeffler, urging her to take immediate action to address the impacts of Trump’s reckless tariff policies on small businesses.
    Ranking Member Markey has been speaking out against Trump attacks to federal clean energy and climate funding and programs during Trump’s first 100 days in office. In February 2025, Ranking Member Markey was denied a meeting with EPA Administrator Zeldin and DOGE representatives, where the lawmakers planned to ask why funding to critical EPA programs was unconstitutionally cut off to communities. In March 2025, Ranking Member Markey and Senator Sheldon Whitehouse (D-R.I.) led a letter to Administrator Lee Zeldin to cease its attempts to claw back nearly $20 billion in congressionally appropriated and legally obligated funding. In April 2025, Ranking Member Markey released a report, “The Trump Tariffs: A Small Business Crisis,” which details the disastrous impacts of Trump’s tariff policies on small businesses across the country.

    MIL OSI USA News –

    May 10, 2025

  • MIL-OSI: BitMart Research: MCP+AI Agent – New framework for AI applications

    Source: GlobeNewswire (MIL-OSI)

    Mahe, Seychelles , May 09, 2025 (GLOBE NEWSWIRE) — BitMart Research, the research arm of BitMart Exchange, has released a detailed report on the innovative MCP+AI Agent framework, a new paradigm for AI applications. This report delves into the advancements of the Model Context Protocol (MCP), its integration with encrypted AI agents, and the transformative impact on blockchain automation, decentralized applications, and cross-platform interoperability. The findings highlight the potential of this framework to enhance AI capabilities, streamline complex integrations, and drive the future of AI in the blockchain ecosystem.

    1. Introduction to the concept of MCP

    In the field of artificial intelligence, traditional chatbots have long relied on generic dialogue models that lacked personalized character settings, resulting in monotonous and impersonal responses. To address this limitation, developers introduced the concept of “persona” – endowing AI with specific roles, personalities, and speech patterns to better align responses with user expectations. However, even with well-defined personas, these systems remained passive responders incapable of proactively executing tasks or handling complex operations. This gave rise to the open-source project Auto-GPT, which enables developers to define a suite of tools and functions for AI systems. By registering these tools within the framework, Auto-GPT can generate operational commands based on predefined rules and resources when processing user requests, autonomously executing tasks and returning results. This advancement transforms AI from passive conversational agents into proactive task-oriented systems.

    Despite Auto-GPT’s progress in enabling autonomous AI operations, challenges persisted regarding inconsistent tool invocation formats and poor cross-platform compatibility. The Model Context Protocol (MCP) was developed to address these core challenges in AI development, particularly the complexity of integrating external tools. MCP’s primary objective is to streamline AI-tool interactions through standardized communication protocols, enabling seamless integration of diverse external services. Traditionally, implementing complex functionalities like weather queries or web access in large language models required extensive custom coding and tool documentation – a process that significantly increased development complexity and time investment. MCP fundamentally simplifies this process by establishing standardized interfaces and communication specifications, allowing AI models to interact with external tools more efficiently and effectively.

    2. Integration of MCP and AI Agent

    MCP and encrypted AI Agents share a complementary relationship, with their key distinction lying in their respective focuses. AI Agents primarily concentrate on blockchain automation, smart contract execution, and crypto asset management, emphasizing privacy protection and integration with decentralized applications. MCP, conversely, prioritizes simplifying interactions between AI Agents and external systems through standardized protocols and context management, enhancing cross-platform interoperability and flexibility. By leveraging the MCP protocol, encrypted AI Agents can achieve more efficient cross-platform integration and operations, thereby boosting their execution capabilities.

    Previous-generation AI Agents possessed basic operational capacities such as executing transactions through smart contracts and managing wallets. However, these functions were typically predefined, lacking flexibility and adaptability. The core value of MCP lies in establishing unified communication standards for interactions between AI Agents and external tools – including blockchain data, smart contracts, and off-chain services. This standardization addresses traditional development challenges of interface fragmentation, enabling AI Agents to seamlessly integrate with multi-chain data and tools while significantly enhancing their autonomous execution capabilities. For instance, DeFi-focused AI Agents utilizing MCP can access real-time market data and automatically optimize investment portfolios. Furthermore, MCP unlocks novel collaborative possibilities: through MCP, multiple AI Agents can collaborate through functional specialization, combining capabilities to complete complex tasks such as on-chain data analysis, market prediction, and risk management, thereby improving overall efficiency and reliability. For on-chain transaction automation, MCP orchestrates various trading and risk control Agents to address issues like slippage, transaction friction, and MEV (Miner Extractable Value), enabling safer and more efficient on-chain asset management.

    3. Related Projects

    1.DeMCP

    DeMCP is a decentralized MCP network. It aims to provide self-developed open-source MCP services for AI Agents, offer developers a commercial revenue-sharing deployment platform for MCP, and enable one-stop access to mainstream large language models (LLMs). Developers can acquire services through stablecoin payments (USDT, USDC). As of May 8, its token DMCP holds a market capitalization of approximately $1.62 million.

    2.DARK

    DARK is an MCP network operating within Trusted Execution Environments (TEE), built on the Solana blockchain. Its token $DARK is listed on Binance Alpha, with a market capitalization of approximately $118.1 million as of May 8. Currently, DARK’s first application is under development, designed to empower AI Agents with efficient tool integration capabilities through TEE and the MCP protocol, enabling developers to rapidly connect with diverse tools and external services via simple configurations. Though the product has not yet fully launched, users can join the early access phase through an email waitlist to participate in testing and provide feedback.
      
    3.Cookie.fun

    Cookie.fun is a platform dedicated to AI Agents within the Web3 ecosystem, designed to provide users with a comprehensive AI Agent index and analytics toolkit. The platform helps users understand and evaluate the performance of various AI Agents by showcasing metrics such as cognitive influence, adaptive intelligence capabilities, user engagement, and on-chain data. On April 24, the Cookie.API 1.0 update introduced a dedicated MCP server featuring plug-and-play agent-specific infrastructure, designed for both developers and non-technical users while requiring no configuration.

    Data Source：X

    4.SkyAI

    SkyAI is a Web3 data infrastructure project built on BNB Chain, aiming to establish blockchain-native AI infrastructure through MCP (Model Context Protocol) expansion. The platform provides scalable and interoperable data protocols for Web3-based AI applications, planning to streamline development processes by integrating multi-chain data access, AI agent deployment, and protocol-level utilities, thereby advancing practical AI adoption in blockchain environments. Currently, SkyAI supports aggregated datasets from BNB Chain and Solana, exceeding 10 billion rows of data, with future plans to launch MCP data servers supporting Ethereum mainnet and Base chain. Its token SkyAI is listed on Binance Alpha, holding a market capitalization of approximately $42.7 million as of May 8.

    4.Future Development

    The MCP protocol, as an emerging narrative in the convergence of AI and blockchain, demonstrates significant potential in enhancing data interaction efficiency, reducing development costs, and strengthening security and privacy protection—particularly in decentralized finance (DeFi) and similar scenarios where it holds broad application prospects. However, most current MCP-based projects remain in the proof-of-concept phase, having yet to launch mature products. This immaturity has led to sustained declines in token prices post-listing, exemplified by the DeMCP token plunging 74% within a month of its debut. This trend reflects a market-wide crisis of confidence in MCP initiatives, primarily stemming from prolonged development cycles and the absence of tangible real-world applications. Consequently, accelerating product development, ensuring tight alignment between tokens and functional products, and improving user experience emerge as critical challenges for MCP projects. Additionally, promoting the MCP protocol within the crypto ecosystem faces technical integration hurdles. Divergent smart contract logic and data structures across blockchains and DApps necessitate substantial development resources to establish unified, standardized MCP servers.

    Despite these challenges, the MCP protocol retains considerable market potential. As AI technology advances and the protocol matures, it could enable broader applications in domains like DeFi and DAOs. For instance, AI agents leveraging MCP could access real-time on-chain data to execute automated transactions, enhancing market analysis efficiency and accuracy. Moreover, MCP’s decentralized nature may provide AI models with transparent, traceable operational frameworks, fostering the decentralization and assetization of AI resources. Positioned as a key enabler of AI-blockchain integration, the MCP protocol could evolve into a vital engine powering next-generation AI agents as technology matures and use cases expand. However, realizing this vision requires overcoming multifaceted challenges including technical integration, security assurance, and user experience optimization.

    About BitMart

    BitMart is the premier global digital asset trading platform. With millions of users worldwide and ranked among the top crypto exchanges on CoinGecko, it currently offers 1,700+ trading pairs with competitive trading fees. Constantly evolving and growing, BitMart is interested in crypto’s potential to drive innovation and promote financial inclusion. New users can register here to unlock an $8,000+ welcome bonus.

    Risk Warning:

    The information provided is for reference only and should not be considered a recommendation to buy, sell or hold any financial asset. All information is provided in good faith. However, we make no representations or warranties, express or implied, as to the accuracy, adequacy, validity, reliability, availability or completeness of such information.

    All cryptocurrency investments (including returns) are highly speculative in nature and involve significant risk of loss. Past, hypothetical or simulated performance is not necessarily indicative of future results. The value of digital currencies may rise or fall, and there may be significant risks in buying, selling, holding or trading digital currencies. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment objectives, financial situation and risk tolerance. BitMart does not provide any investment, legal or tax advice.

    The MIL Network –

    May 10, 2025

  • MIL-OSI Security: Former Colombian Port Official Sentenced to Over Twelve Years in Prison for Money Laundering

    Source: United States Attorneys General 12

    A Colombian national was sentenced yesterday to 12 years and seven months in prison for conspiring to launder proceeds of bribes. The defendant was also ordered to forfeit a 2017 Lamborghini Huracan Spyder and a 2017 Porsche Cayenne that were involved in the money laundering scheme.

    According to court documents, Omar Ambuila, 64, of Cali, Colombia, pleaded guilty on Jan. 28 to a single count of conspiracy to launder money. As part of his plea, Ambuila admitted that while he was a port official in Colombia, he accepted at least $1,000,000 in illegal bribes that he and co-conspirators laundered to the United States from Colombia. As part of the scheme, Ambuila and his co-conspirators laundered the funds for Ambuila’s benefit and used the funds to purchase luxury vehicles and pay rent on waterfront property, among other things.

    “Criminals who exploit our financial system to launder their illegal gains threaten the security of the United States,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “When you try to abuse the financial system hard working Americans rely upon, we will find you and prosecute you to the fullest extent of the law.”

    “HSI special agents, in close coordination with all their law enforcement partners, will always work diligently to pursue those individuals and those networks of bad actors who exploit the legitimate financial system to support criminal activity,” said Special Agent in Charge John Condon of Homeland Security Investigation Tampa. “This is just another great example of this work.”

    “Let this sentencing serve as a powerful reminder: the United States will not be a sanctuary for those seeking to launder the proceeds of crime,” said Special Agent in Charge Ron Loecker of the IRS Criminal Investigation (IRS-CI) Tampa Field Office. “We are relentless in our pursuit of criminals who attempt to exploit our financial systems, and we will use every tool at our disposal to ensure that they face justice. This case underscores our commitment to dismantling transnational criminal operations and holding those responsible accountable, no matter where they try to hide.”

    “This investigation exemplifies the FBI’s commitment to our federal law enforcement partnerships and the unified effort in identifying, investigating, and prosecuting money laundering schemes,” said Special Agent in Charge Matthew Fodor of the FBI Tampa Division.

    The case was investigated by HSI, IRS-CI, and the FBI.

    Trial Attorneys Ariana Lazzaroni and Adrienne Rosen and Deputy Chief Joseph Palazzo of the Criminal Division’s Money Laundering and Asset Recovery Section prosecuted the case. The Justice Department’s Office of International Affairs, the Narcotic and Dangerous Drug Section’s Judicial Attaché’s Office in Bogotá, the HSI Attaché’s Office in Bogotá, and the U.S. Marshals Service provided substantial assistance in securing the defendant’s extradition from Colombia.

    MIL Security OSI –

    May 10, 2025

  • MIL-OSI USA News: Rescission of Useless Water Pressure Standards

    Source: The White House

    MEMORANDUM FOR THE SECRETARY OF ENERGY
    THE SECRETARY OF THE INTERIOR
    THE DEPUTY ASSISTANT TO THE PRESIDENT AND DIRECTOR OF THE OFFICE OF LEGISLATIVE AFFAIRS

    SUBJECT:       Rescission of Useless Water Pressure Standards

    By the authority vested in me as President by the Constitution and the laws of the United States of America, I hereby direct:

    Water conservation requirements for faucets, showers, bathtubs, and toilets — promulgated by the Department of Energy pursuant to the Energy Policy Act of 1992 (Public Law 102-486) — make bathroom appliances more expensive and less functional.  “Efficiency” standards render other American appliances like clothes washers and dishwashers less useful, more breakable, and more expensive to repair.  The Federal Government should not impose or enforce regulations that make taxpayers’ lives worse.

    To address these unnecessary radical green agenda policies, I direct the Secretary of Energy to consider using all lawful authority to rescind — or, as appropriate, amend to revert to the standards required by statute — the regulations found in 10 C.F.R. 430.32(f), relating to water and energy use in dishwashers; 10 C.F.R. 430.32(o), relating to water use in faucets; 10 C.F.R. 430.32(p), relating to water use in showerheads; 10 C.F.R. 430.32(q), relating to water use in water closets; 10 C.F.R. 430.32(r), relating to water use in urinals; the definitions of “automatic clothes washer,” “clothes washer,” “dishwasher,” “faucet,” “other clothes washer,” “semi-automatic clothes washer,” “urinal,” and “water closet” contained in 10 C.F.R. 430.2; the residential washing machine efficiency standards contained in 10 C.F.R. 430.32(g); and the commercial washing machine efficiency standards contained in 10 C.F.R. 431.156.

    Furthermore, I direct the Secretary of Energy to publish in the Federal Register a notice clarifying the Waiver of Federal Preemption of State regulations covered by the application of “Energy Efficiency Program for Consumer Products:  Waiver of Federal Preemption of State Regulations Concerning the Water Use or Water Efficiency of Showerheads, Faucets, Water Closets and Urinals,” 75 Fed. Reg. 80289 (December 22, 2010).

    I further direct the Secretary of Energy not to enforce any of the regulatory provisions listed in this memorandum, pending rescission or reversion of such provisions; the provisions of 42 U.S.C. 6295(j) and (k); or energy and water efficiency standards for washing machines, including the provisions in 42 U.S.C. 6295(g) and 42 U.S.C. 6313(e).

    Finally, I direct the Secretary of Energy and the Deputy Assistant to the President and Director of the Office of Legislative Affairs to jointly prepare and submit recommendations to the President, within 60 days of the date of this memorandum, through the Chair of the National Energy Dominance Council, for the Congress to rescind, insofar as each relates to the subject matter of this memorandum, 42 U.S.C. 6295(g), (j), (k), and (o) and 42 U.S.C. 6313(e), or to repeal the Energy Policy Act of 1992 in its entirety.

    This memorandum is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.

                                  DONALD J. TRUMP

    MIL OSI USA News –

    May 10, 2025
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