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  • MIL-OSI: PrairieSky Announces Second Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    CALGARY, Alberta, July 14, 2025 (GLOBE NEWSWIRE) —

    PrairieSky Royalty Ltd. (“PrairieSky” or the “Company”) (TSX: PSK) is pleased to announce its second quarter operating and financial results for the period ended June 30, 2025.

    Second Quarter Highlights:

    • Record oil royalty production of 14,376 barrels per day, an 8% increase over Q2 2024(1). Total royalty production averaged 26,457 BOE per day, a 4% increase over Q2 2024.
    • Revenues totaled $123.6 million for Q2 2025(1) comprised of royalty production revenue of $111.2 million and other revenue of $12.4 million, including bonus consideration of $8.5 million earned on entering into 47 new leasing arrangements primarily focused on the Duvernay light oil play.
    • Funds from operations totaled $96.7 million or $0.41 per share, a decrease of 9% from Q2 2024  as record oil royalty production volumes, narrowed heavy and light oil price differentials and a weaker Canadian dollar were offset by lower benchmark US$ WTI pricing.
    • Declared a second quarter dividend of $61.2 million ($0.26 per share), representing a payout ratio of 63%.
    • Purchased and cancelled 84,020 common shares under the Company’s normal course issuer bid (“NCIB”) for $2.0 million. 
    • Completed acquisitions for $6.5 million, primarily of non-producing gross overriding royalty interests targeting Mannville oil.
    • Net debt totaled $242.0 million as at June 30, 2025, a decrease of $16.8 million from March 31, 2025.
     

    President’s Message

    Oil royalty production volumes reached a record 14,376 barrels per day in Q2 2025, an 8% increase over Q2 2024, bringing year-to-date oil royalty production to 13,941 barrels per day. We continue to see growth in our heavy oil portfolio with the Clearwater and Mannville Stack(2) approaching 25% of oil royalty production as third-party operators continue to execute on their drilling programs in these plays. Multilateral horizontal drilling reached a record 52% of spuds (61 wells) in the quarter which included 47 wells in the Clearwater. Year-to-date activity has been particularly strong in the Duvernay with 30 wells spud compared to 33 spud in all of 2024. We expect to see initial royalty production from multiple Duvernay wells in the West Shale Basin(2) in the third quarter and this level of third-party activity to continue to drive annual oil royalty production growth.

    Funds from operations totaled $96.7 million ($0.41 per share) in the quarter driven by strong royalty production volumes of 26,457 BOE per day which generated royalty revenue of $111.2 million, 93% attributed to oil and NGL. Oil royalty production revenue totaled $95.7 million, a 14% decrease from Q2 2024, with lower US$ WTI benchmark pricing offsetting record oil royalty production volumes of 14,376 barrels per day, narrowed light and heavy oil differentials and a weaker Canadian dollar. Natural gas royalty production volumes averaged 58.4 MMcf per day in the quarter, earning $7.9 million in royalty revenue which represented an 80% increase over Q2 2024. The increase in natural gas royalty production revenue was primarily due to improved benchmark pricing with daily AECO index pricing averaging $1.69 per Mcf in the quarter, an increase of 43% over Q2 2024. NGL royalty production averaged 2,348 barrels per day, an increase of 2% from Q2 2024 and generated total NGL royalty production revenue of $7.6 million in the quarter. It was a strong quarter for other revenues which totaled $12.4 million, including bonus consideration of $8.5 million earned on entering into 47 new leases with 37 separate counterparties.

    PrairieSky declared a dividend of $0.26 per share or $61.2 million in the quarter with a resulting payout ratio of 63%. Excess funds from operations after payment of the dividend were allocated to the acquisition of $6.5 million of incremental royalty interests focused on non-producing gross overriding royalty interests targeting Mannville heavy oil targets and share repurchases. The NCIB remains an important part of our long-term capital allocation strategy to create value for shareholders. During the quarter, 84,020 common shares were repurchased and cancelled with an incremental $11.0 million(3) allocated to share repurchases to be settled subsequent to June 30, 2025. PrairieSky exited the quarter with net debt of $242.0 million at June 30, 2025. Subsequent to Q2 2025, PrairieSky exercised the accordion feature of its unsecured, covenant-based credit facility with the existing syndicate of Canadian banks, increasing the commitment of lenders by $250 million, bringing the aggregate credit limit available to PrairieSky to $600 million. There were no other amendments made to the credit facility. The expanded facility provides increased liquidity and financial flexibility moving forward.

    Thank you to our staff for their hard work in the quarter and our shareholders for their continued support.

    Andrew Phillips, President & CEO

    ACTIVITY ON PRAIRIESKY’S ROYALTY PROPERTIES

    Third-party operators spud 117 wells on PrairieSky’s royalty acreage at an average royalty rate of 4.8%, as compared to the 115 wells spud in Q2 2024 at an average royalty rate of 6.6%. Drilling activity generally slows in the second quarter across the Western Canadian Sedimentary Basin as a result of spring break-up. Spuds were comprised of 74 wells on gross overriding royalty acreage, 33 wells on fee lands and 10 unit wells. There were a total of 113 oil wells (97% of wells) spud during the quarter which included 47 Clearwater wells, 17 Mannville light and heavy oil wells, 13 Duvernay wells, 11 Viking wells, 11 Mississippian wells and 14 additional oil wells across Alberta and Saskatchewan. There were 3 Mannville natural gas wells and 1 Duvernay natural gas well spud in Q2 2025.

    NOTES AND REFERENCES

    (1) In this press release, the financial reporting periods are referred to as follows: “Q2 2025”, “the quarter” or the “the second quarter” refers to the three months ended June 30, 2025; “Q2 2024” refers to the three months ended June 30, 2024.
    (2) For further details on the “Mannville Stack” and “West Shale Basin”, we refer you to PrairieSky’s most recent Corporate Presentation contained on PrairieSky’s website at www.prairiesky.com.
    (3) Included in accounts payable and accrued liabilities at June 30, 2025 is $11.0 million related to common share repurchases of which $1.0 million related to common share repurchases that were pending settlement at June 30, 2025 and the remaining $10.0 million related to a provision for share repurchases under the Company’s automatic share purchase plan with an independent broker.
       

    Unless otherwise indicated or the context otherwise requires, terms used in this press release but not defined above are as defined in in the Company’s Annual Information Form for the year ended December 31, 2024 which is available on SEDAR+ at www.sedarplus.com and PrairieSky’s website at www.prairiesky.com.

    FINANCIAL AND OPERATIONAL INFORMATION

    The following table summarizes select operational and financial information of the Company for the periods noted. All dollar amounts are stated in Canadian dollars unless otherwise noted.

    A full version of PrairieSky’s management’s discussion and analysis (“MD&A”) and unaudited interim condensed consolidated financial statements and notes thereto for the fiscal period ended June 30, 2025 are available on SEDAR+ at www.sedarplus.com and PrairieSky’s website at www.prairiesky.com.

      Three months ended Six months ended
      June 30   March 31 June 30 June 30 June 30
    ($ millions, except $ per share or as otherwise noted) 2025   2025 2024 2025 2024
    FINANCIAL                    
    Royalty production revenue 111.2   119.9   125.5   231.1   238.7  
    Other revenue 12.4   8.2   10.1   20.6   17.6  
    Revenues 123.6   128.1   135.6   251.7   256.3  
                         
    Funds from operations 96.7   85.8   106.1   182.5   189.1  
    Per share – basic and diluted(1) 0.41   0.36   0.44   0.77   0.79  
                         
    Net earnings 56.3   58.4   60.3   114.7   107.8  
    Per share – basic and diluted(1) 0.24   0.25   0.25   0.48   0.45  
                         
    Dividends declared(2) 61.2   61.2   59.7   122.4   119.4  
    Per share 0.26   0.26   0.25   0.52   0.50  
                         
    Dividend payout ratio(3) 63%   71%   56%   67%   63%  
                         
    Acquisitions(4) 6.5   63.6   12.3   70.1   21.1  
    Net debt(5) 242.0   258.8   174.6   242.0   174.6  
    Common share repurchases, inclusive of all costs 2.0   91.8   –   93.8   –  
                         
    Shares outstanding (millions)                    
    Shares outstanding at period end 235.5   235.5   239.0   235.5   239.0  
    Weighted average – basic and diluted 235.5   238.3   239.0   236.9   239.0  
                         
    OPERATIONAL                    
    Royalty production volumes                    
    Crude oil (bbls/d) 14,376   13,502   13,312   13,941   13,227  
    NGL (bbls/d) 2,348   2,520   2,308   2,433   2,421  
    Natural gas (MMcf/d) 58.4   55.9   58.2   57.1   60.1  
    Royalty Production (BOE/d)(6) 26,457   25,339   25,320   25,891   25,665  
                         
    Realized pricing                    
    Crude oil ($/bbl) 73.16   83.16   91.75   77.98   84.51  
    NGL ($/bbl) 35.47   44.51   47.20   40.13   45.62  
    Natural gas ($/Mcf) 1.50   1.73   0.84   1.61   1.38  
    Total ($/BOE)(6) 46.19   52.58   54.47   49.31   51.10  
                         
    Operating netback per BOE ($)(7) 43.04   42.85   51.39   42.95   45.43  
                         
    Funds from operations per BOE ($) 40.16   37.62   46.05   38.94   40.48  
                         
    Oil price benchmarks                    
    West Texas Intermediate (WTI) (US$/bbl) 63.76   71.39   80.57   67.59   78.76  
    Edmonton light sweet ($/bbl) 84.24   95.20   105.16   89.78   98.66  
    Western Canadian Select (WCS) crude oil differential to WTI (US$/bbl) (10.27 ) (12.67 ) (13.60 ) (11.47 ) (16.47 )
                         
    Natural gas price benchmarks                    
    AECO Monthly Index ($/Mcf) 2.07   2.02   1.44   2.05   1.74  
    AECO Daily Index ($/Mcf) 1.69   2.16   1.18   1.93   1.84  
                         
    Foreign exchange rate (US$/CAD$) 0.7228   0.6976   0.7315   0.7096   0.7364  
    (1) Funds from operations and net earnings per share are calculated using the weighted average number of basic and diluted common shares outstanding.
    (2) A dividend of $0.26 per share was declared on June 3, 2025. The dividend will be paid on July 15, 2025 to shareholders of record as at June 30, 2025.
    (3) Dividend payout ratio is defined under the “Non-GAAP Measures and Ratios” section of this press release.
    (4) Excluding right-of-use asset additions.
    (5) See Note 12 “Capital Management” in the interim condensed consolidated financial statements for the three and six months ended June 30, 2025 and 2024 and Note 13 “Capital Management” in the interim condensed consolidated financial statements for the three months ended March 31, 2025 and 2024.
    (6) See “Conversions of Natural Gas to BOE”.
    (7) Operating netback per BOE is defined under the “Non-GAAP Measures and Ratios” section of this press release.
       

    CONFERENCE CALL DETAILS

    A conference call to discuss the results will be held for the investment community on Tuesday, July 15, 2025, beginning at 6:30 a.m. MST (8:30 a.m. EST). To participate in the conference call, you are asked to register at one of the links provided below. Details regarding the call will be provided to you upon registration.

    Live call participant registration        
    URL:      https://register-conf.media-server.com/register/BI4b3e791d098f4a4c844ea1427370d036

    Live webcast participant registration (listen in only)
    URL:  https://edge.media-server.com/mmc/p/5a4q5q2j

    FORWARD-LOOKING STATEMENTS

    This press release includes certain forward-looking information and forward-looking statements (collectively, “forward-looking statements”) which may include, but are not limited to PrairieSky’s future plans, current expectations and views of future operations and contains forward-looking statements that the Company believes allow readers to better understand the Company’s business and prospects. All statements other than statements of historical fact may be forward-looking statements. The use of any of the words “expect”, “expected to”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “could”, “likely”, “believe”, “plans”, “intends”, “strategy” and similar expressions (including negative variations) are intended to identify forward-looking information or statements. Forward-looking statements contained in this press release include, but are not limited to, our expectations with respect to PrairieSky’s business and growth strategy and trajectory, including the expectation of receiving royalty production from multiple royalty interest wells in the West Shale Basin in the third quarter; management’s expectation that the level of third-party activity on PrairieSky’s royalty lands will continue to drive annual royalty production growth; and PrairieSky’s expectations to execute on the NCIB as part of our long-term capital allocation strategy to create value for shareholders.

    With respect to forward-looking statements contained in this press release, PrairieSky has made several assumptions including those described in detail in our MD&A and the Annual Information Form for the year ended December 31, 2024. Readers and investors are cautioned that the assumptions used in the preparation of such forward-looking statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. PrairieSky’s actual results, performance, or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. PrairieSky can give no assurance that any of the events anticipated will transpire or occur, or if any of them do, what benefits the Company will derive from them.

    By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond PrairieSky’s control, including but not limited to the impact of general economic conditions including inflation, industry conditions, volatility of commodity prices, lack of or access to sufficient pipeline capacity, currency fluctuations, interest rates, imprecision of reserve estimates, competitive factors impacting royalty rates, environmental risks, taxation, regulation, changes in tax or other legislation, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility, political and geopolitical instability, the risks and impacts of tariffs imposed between Canada and the United States (and other countries) or other restrictive trade measures, retaliatory or countermeasures implemented by such governments affecting trade between Canada and the United States (and other countries), including the potential introduction of regulatory barriers to trade and the effect on the demand and/or market price for commodities, inaccurate expectations for industry drilling levels on our royalty lands and the Company’s ability to access sufficient capital from internal and external sources. In addition, PrairieSky is subject to numerous risks and uncertainties in relation to acquisitions. These risks and uncertainties include risks relating to the potential for disputes to arise with counterparties, and limited ability to recover indemnification under certain agreements. The foregoing and other risks, uncertainties and assumptions are described in more detail in PrairieSky’s MD&A and the Annual Information Form for the year ended December 31, 2024 under the headings “Risk Management” and “Risk Factors”, respectively, each of which is available on SEDAR+ at www.sedarplus.com and PrairieSky’s website at www.prairiesky.com.

    Further, any forward-looking statement is made only as of the date of this press release, and PrairieSky undertakes no obligation to update or revise any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events, except as required by applicable securities laws. New factors emerge from time to time, and it is not possible for PrairieSky to predict all of these factors or to assess, in advance, the impact of each such factor on PrairieSky’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

    CONVERSIONS OF NATURAL GAS TO BOE

    To provide a single unit of production for analytical purposes, natural gas production and reserves volumes are converted mathematically to equivalent barrels of oil (BOE). PrairieSky uses the industry-accepted standard conversion of six thousand cubic feet of natural gas to one barrel of oil (6 Mcf = 1 bbl). The 6:1 BOE ratio is based on an energy equivalency conversion method primarily applicable at the burner tip. It does not represent a value equivalency at the wellhead and is not based on either energy content or current prices. While the BOE ratio is useful for comparative measures and observing trends, it does not accurately reflect individual product values and might be misleading, particularly if used in isolation. As well, given that the value ratio, based on the current price of crude oil to natural gas, is significantly different from the 6:1 energy equivalency ratio, using a 6:1 conversion ratio may be misleading as an indication of value.

    NON-GAAP MEASURES AND RATIOS

    Certain measures and ratios in this press release do not have any standardized meaning as prescribed by IFRS and, therefore, are considered non-GAAP measures and ratios. These measures and ratios may not be comparable to similar measures and ratios presented by other issuers. These measures and ratios are commonly used in the oil and natural gas industry and by PrairieSky to provide potential investors with additional information regarding the Company’s liquidity and its ability to generate funds to conduct its business. Non-GAAP measures and ratios include operating netback per BOE and dividend payout ratio. Management’s use of these measures and ratios is discussed further below. Further information can be found in the Non-GAAP Measures and Ratios section of PrairieSky’s MD&A for the three and six months ended June 30, 2025 and 2024 and PrairieSky’s MD&A for the three months ended March 31, 2025 and 2024.

    “Operating netback per BOE” represents the cash margin for products sold on a BOE basis. Operating netback per BOE is calculated by dividing the operating netback (royalty production revenue less production and mineral taxes and cash administrative expenses) by the average daily production volumes for the period. Operating netback per BOE is used to assess the cash generating and operating performance per unit of product sold and the comparability of the underlying performance between years. Operating netback per BOE measures are commonly used in the oil and natural gas industry to assess performance comparability. Refer to the Operating Results table starting on page 6 of PrairieSky’s MD&A for the three and six months ended June 30, 2025 and 2024 and page 6 of PrairieSky’s MD&A for the three months ended March 31, 2025 and 2024.

      Three months ended Six months ended
      June 30 March 31 June 30 June 30 June 30
    ($ millions) 2025 2025 2024 2025 2024
    Cash from operating activities 90.3   90.7   99.3   181.0   179.0  
    Other revenue (12.4 ) (8.2 ) (10.1 ) (20.6 ) (17.6 )
    Amortization of debt issuance costs (0.1 ) (0.1 ) (0.1 ) (0.2 ) (0.2 )
    Finance expense 3.0   2.9   3.5   5.9   7.2  
    Current tax expense 16.5   17.3   19.0   33.8   33.7  
    Interest on lease obligation (0.1 ) –   –   (0.1 ) –  
    Net change in non-cash working capital 6.4   (4.9 ) 6.8   1.5   10.1  
    Operating netback 103.6   97.7   118.4   201.3   212.2  
                         

    “Operating Margin” represents operating netback as a percentage of royalty production revenue. Management uses this measure to demonstrate the comparability between the Company and production and exploration companies in the oil and natural gas industry as it shows net revenue generation from operations.

      Three months ended Six months ended
      June 30 March 31 June 30 June 30 June 30
    ($ millions) 2025 2025 2024 2025 2024
    Royalty production revenue 111.2 119.9 125.5 231.1 238.7
    Operating netback 103.6 97.7 118.4 201.3 212.2
    Operating margin 93% 81% 94% 87% 89%
               

    “Dividend payout ratio” is calculated as dividends declared as a percentage of funds from operations. Payout ratio is used by dividend paying companies to assess dividend levels in relation to the funds generated and used in operating activities.

      Three months ended Six months ended
      June 30 March 31 June 30 June 30 June 30
    ($ millions, except otherwise noted) 2025 2025 2024 2025 2024
    Funds from operations 96.7 85.8 106.1 182.5 189.1
    Dividends declared 61.2 61.2 59.7 122.4 119.4
    Dividend payout ratio 63% 71% 56% 67% 63%
               

    ABOUT PRAIRIESKY ROYALTY LTD.

    PrairieSky is a royalty company, generating royalty production revenues as oil and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating funds from operations and that represent the largest and most consolidated independently-owned fee simple mineral title position in Canada. PrairieSky’s common shares trade on the Toronto Stock Exchange under the symbol PSK.

    FOR FURTHER INFORMATION PLEASE CONTACT:

    Andrew M. Phillips
    President & Chief Executive Officer
    PrairieSky Royalty Ltd.
    (587) 293-4005

    Michael T. Murphy
    Vice-President, Geosciences & Capital Markets
    PrairieSky Royalty Ltd.
    (587) 293-4056

    Investor Relations
    (587) 293-4000
    www.prairiesky.com

    		 Pamela P. Kazeil
    Senior Vice-President, Finance & Chief Financial
    Officer
    PrairieSky Royalty Ltd.
    (587) 293-4089
       

    PDF available: http://ml.globenewswire.com/Resource/Download/36ee4b7d-4f4e-42d9-a2fb-c3c005d65436

    The MIL Network –

  • MIL-OSI USA: Launching the Extreme Heat Equipment Credit

    Source: US State of New York

    overnor Kathy Hochul today announced the launch of the New York State Insurance Fund (NYSIF)’s new Extreme Heat Equipment Credit. The credit helps qualifying small businesses protect their workers through the purchase of personal protective equipment (PPE) and supplies designed to minimize the effects of heat exposure.

    “Extreme weather events have unfortunately become our new normal, and here in New York, we are prioritizing resources to help our small businesses and workers statewide,” Governor Hochul said. “Our hardworking employees across the state deserve to have access to necessary benefits in instances of heat-related illnesses, especially those who work long hours outdoors.”

    With 2024 being the hottest year on record, and each year between 2015-24 ranking among the 10 hottest years on record, rising temperatures have become a critical occupational hazard for many industries. Extreme heat can lead to heat-related illnesses such as heat stroke and heat exhaustion and can exacerbate preexisting conditions such as asthma, kidney disease, or heart disease. Exposure to extreme heat can also impair cognitive and motor functions, increasing the risk of on-the-job accidents.

    The NYSIF Extreme Heat Equipment Credit is available to small businesses — up to 10 employees — in manufacturing, warehousing, carpentry, landscaping and farming; industries where workers are often exposed to extreme temperatures. These businesses can receive a one-time credit of $1,000 or 10 percent of their annual workers’ compensation premium, whichever is less, toward the purchase of PPE designed to protect workers from the effects of extreme heat.

    Today’s initiative is the latest in NYSIF’s commitment to promote worker safety and combat the effects of climate change. NYSIF recently expanded its Climate Action Premium Credit to additional providers of health care services as well as entities engaged in the medical supply chain. The program provides financial incentives and technical support for climate action planning and implementation.

    Eligible purchases under the NYSIF Extreme Heat Equipment Credit program include but are not limited to fans, ventilation systems, cooling vests, ventilated hard hats, UV-resistant safety glasses, and cooling towels. NYSIF policyholders that qualify can apply for the credit on the NYSIF website at nysif.com/ppe.

    New York State Insurance Fund Executive Director and CEO Gaurav Vasisht said, “As extreme heat becomes more frequent and severe, it’s critical that employers provide workers with protective equipment and safety gear to minimize risk. This program was designed for small businesses who may not have the resources of their larger competitors in helping workers stay safe and productive in the most demanding and heat-intensive work environments.”

    New York State Agriculture Commissioner Richard A. Ball said, “As we continue to see an increase in extreme heat across New York, preparation, communication and other precautions can save lives. It’s critical that we are working to provide ample resources to farmers to strengthen their resiliency and ensure their workforce — who primarily operate outdoors — remain safe. This initiative from our partners at NYSIF is a terrific step toward keeping New Yorkers safe in the heat, and I encourage all eligible businesses to apply.”

    New York State Department of Environmental Conservation Commissioner Amanda Lefton said, “DEC and our State and local partners are committed to addressing extreme heat driven by the climate crisis while identifying actions to help keep our communities safe and healthy. As directed by Governor Hochul, DEC is working to implement the Extreme Heat Action Plan with our agency partners by advancing both strategies and solutions to help address extreme heat. NYSIF’s Extreme Heat Equipment Credit complements these efforts by helping small businesses protect their workers, particularly those often exposed to extreme temperatures, from extreme heat and severe weather, across New York State.”

    New York State Department of Health Commissioner Dr. James McDonald said, “Extreme heat can be life threatening, even for healthy individuals and especially for those with preexisting health conditions like asthma. This program can help ensure that small businesses are able to support a safe environment for their employees during the hottest months of the year.”

    New York State Department of Labor Commissioner Roberta Reardon said, “Soaring temperatures can be dangerous and even deadly, especially for those working outdoors. I encourage eligible small businesses to take advantage of the new Extreme Heat Equipment Credit to purchase personal protective equipment and supplies to minimize heat exposure effects for their employees. We must keep workers safe while making New York a healthier, safer place to live and work. I also remind all employers to review our Extreme Heat Guidance to better understand how to protect their workforce.”

    New York State Energy Research and Development Authority President and CEO, Doreen M. Harris said, “Ensuring that workers have access to proper protective gear and supplies during periods of extreme heat is essential to their health and a safe work environment. I commend the New York State Insurance Fund for offering this equipment credit, which is one of many resources available to businesses to reduce exposure and minimize risk when temperatures are dangerously high for long periods of time.”

    New York State Workers’ Compensation Board Clarissa M. Rodriguez said, “Protecting workers from the dangers of extreme heat is the right thing to do and always good for business. I applaud NYSIF for developing a program that helps both small businesses and the employees who work for them.”

    The Business Council of New York State President and CEO Heather Mulligan said, “Federal law requires all employers to provide a working environment free from recognized hazards that can cause serious injury or illness. New York employers are leaders in protecting their workers from these hazards, including exposure to extreme temperatures. By providing the New York State Insurance Fund Extreme Heat Equipment Credit, NYSIF is reinforcing its commitment to supporting New York employers in this effort. We encourage all eligible businesses to take advantage of this credit to reinvest in their small businesses.”

    State Senator Sean Ryan said, “In the New York State legislature, we’re always looking for new, creative ways to support the small businesses that drive our state’s economy. With temperatures rising, we need to ensure that those employed by small businesses in vulnerable fields are able to work in safe and healthy conditions. I thank NYSIF and Governor Hochul for supporting this plan to protect workers and invest in small businesses across the state.”

    Assemblymember Al Stirpe said, “While temperatures continue to rise, putting our workers first is a necessity. This extreme heat equipment credit ensures that workers in the most heat-vulnerable industries stay safe and healthy while on the job. Not only will less employees be at risk for on-the-job accidents and long-term health impacts, but small businesses will also be provided the resources they need to continue operations during extreme heat events. Despite the increasing threat of climate change, New York State remains committed to protecting the livelihood and wellbeing of our workers.”

    Assemblymember Marianne Buttenschon said, “Our small businesses continue to struggle. The Extreme Heat Tax Credit program will assist our small businesses. I appreciate the governor taking this initiative to support our small businesses as well as those that work for them.”

    About NYSIF
    NYSIF is the largest workers’ compensation insurer in New York State and among the ten largest nationwide. NYSIF covers 2 million workers and insures 200,000 employers in New York State. NYSIF’s mission is to guarantee the availability of workers’ compensation, disability insurance and paid family leave at the lowest possible cost to New York employers while maintaining a solvent fund. Since its inception 110 years ago, NYSIF has fulfilled this mission by competing with other insurance carriers to ensure a fair marketplace while serving as a guaranteed source of coverage for employers that cannot secure coverage elsewhere. NYSIF strives to achieve the best health outcomes for injured workers and be an industry leader in price, quality, and service for New York employers. For more information, visit nysif.com.

    MIL OSI USA News –

  • MIL-OSI USA: Launching the Extreme Heat Equipment Credit

    Source: US State of New York

    overnor Kathy Hochul today announced the launch of the New York State Insurance Fund (NYSIF)’s new Extreme Heat Equipment Credit. The credit helps qualifying small businesses protect their workers through the purchase of personal protective equipment (PPE) and supplies designed to minimize the effects of heat exposure.

    “Extreme weather events have unfortunately become our new normal, and here in New York, we are prioritizing resources to help our small businesses and workers statewide,” Governor Hochul said. “Our hardworking employees across the state deserve to have access to necessary benefits in instances of heat-related illnesses, especially those who work long hours outdoors.”

    With 2024 being the hottest year on record, and each year between 2015-24 ranking among the 10 hottest years on record, rising temperatures have become a critical occupational hazard for many industries. Extreme heat can lead to heat-related illnesses such as heat stroke and heat exhaustion and can exacerbate preexisting conditions such as asthma, kidney disease, or heart disease. Exposure to extreme heat can also impair cognitive and motor functions, increasing the risk of on-the-job accidents.

    The NYSIF Extreme Heat Equipment Credit is available to small businesses — up to 10 employees — in manufacturing, warehousing, carpentry, landscaping and farming; industries where workers are often exposed to extreme temperatures. These businesses can receive a one-time credit of $1,000 or 10 percent of their annual workers’ compensation premium, whichever is less, toward the purchase of PPE designed to protect workers from the effects of extreme heat.

    Today’s initiative is the latest in NYSIF’s commitment to promote worker safety and combat the effects of climate change. NYSIF recently expanded its Climate Action Premium Credit to additional providers of health care services as well as entities engaged in the medical supply chain. The program provides financial incentives and technical support for climate action planning and implementation.

    Eligible purchases under the NYSIF Extreme Heat Equipment Credit program include but are not limited to fans, ventilation systems, cooling vests, ventilated hard hats, UV-resistant safety glasses, and cooling towels. NYSIF policyholders that qualify can apply for the credit on the NYSIF website at nysif.com/ppe.

    New York State Insurance Fund Executive Director and CEO Gaurav Vasisht said, “As extreme heat becomes more frequent and severe, it’s critical that employers provide workers with protective equipment and safety gear to minimize risk. This program was designed for small businesses who may not have the resources of their larger competitors in helping workers stay safe and productive in the most demanding and heat-intensive work environments.”

    New York State Agriculture Commissioner Richard A. Ball said, “As we continue to see an increase in extreme heat across New York, preparation, communication and other precautions can save lives. It’s critical that we are working to provide ample resources to farmers to strengthen their resiliency and ensure their workforce — who primarily operate outdoors — remain safe. This initiative from our partners at NYSIF is a terrific step toward keeping New Yorkers safe in the heat, and I encourage all eligible businesses to apply.”

    New York State Department of Environmental Conservation Commissioner Amanda Lefton said, “DEC and our State and local partners are committed to addressing extreme heat driven by the climate crisis while identifying actions to help keep our communities safe and healthy. As directed by Governor Hochul, DEC is working to implement the Extreme Heat Action Plan with our agency partners by advancing both strategies and solutions to help address extreme heat. NYSIF’s Extreme Heat Equipment Credit complements these efforts by helping small businesses protect their workers, particularly those often exposed to extreme temperatures, from extreme heat and severe weather, across New York State.”

    New York State Department of Health Commissioner Dr. James McDonald said, “Extreme heat can be life threatening, even for healthy individuals and especially for those with preexisting health conditions like asthma. This program can help ensure that small businesses are able to support a safe environment for their employees during the hottest months of the year.”

    New York State Department of Labor Commissioner Roberta Reardon said, “Soaring temperatures can be dangerous and even deadly, especially for those working outdoors. I encourage eligible small businesses to take advantage of the new Extreme Heat Equipment Credit to purchase personal protective equipment and supplies to minimize heat exposure effects for their employees. We must keep workers safe while making New York a healthier, safer place to live and work. I also remind all employers to review our Extreme Heat Guidance to better understand how to protect their workforce.”

    New York State Energy Research and Development Authority President and CEO, Doreen M. Harris said, “Ensuring that workers have access to proper protective gear and supplies during periods of extreme heat is essential to their health and a safe work environment. I commend the New York State Insurance Fund for offering this equipment credit, which is one of many resources available to businesses to reduce exposure and minimize risk when temperatures are dangerously high for long periods of time.”

    New York State Workers’ Compensation Board Clarissa M. Rodriguez said, “Protecting workers from the dangers of extreme heat is the right thing to do and always good for business. I applaud NYSIF for developing a program that helps both small businesses and the employees who work for them.”

    The Business Council of New York State President and CEO Heather Mulligan said, “Federal law requires all employers to provide a working environment free from recognized hazards that can cause serious injury or illness. New York employers are leaders in protecting their workers from these hazards, including exposure to extreme temperatures. By providing the New York State Insurance Fund Extreme Heat Equipment Credit, NYSIF is reinforcing its commitment to supporting New York employers in this effort. We encourage all eligible businesses to take advantage of this credit to reinvest in their small businesses.”

    State Senator Sean Ryan said, “In the New York State legislature, we’re always looking for new, creative ways to support the small businesses that drive our state’s economy. With temperatures rising, we need to ensure that those employed by small businesses in vulnerable fields are able to work in safe and healthy conditions. I thank NYSIF and Governor Hochul for supporting this plan to protect workers and invest in small businesses across the state.”

    Assemblymember Al Stirpe said, “While temperatures continue to rise, putting our workers first is a necessity. This extreme heat equipment credit ensures that workers in the most heat-vulnerable industries stay safe and healthy while on the job. Not only will less employees be at risk for on-the-job accidents and long-term health impacts, but small businesses will also be provided the resources they need to continue operations during extreme heat events. Despite the increasing threat of climate change, New York State remains committed to protecting the livelihood and wellbeing of our workers.”

    Assemblymember Marianne Buttenschon said, “Our small businesses continue to struggle. The Extreme Heat Tax Credit program will assist our small businesses. I appreciate the governor taking this initiative to support our small businesses as well as those that work for them.”

    About NYSIF
    NYSIF is the largest workers’ compensation insurer in New York State and among the ten largest nationwide. NYSIF covers 2 million workers and insures 200,000 employers in New York State. NYSIF’s mission is to guarantee the availability of workers’ compensation, disability insurance and paid family leave at the lowest possible cost to New York employers while maintaining a solvent fund. Since its inception 110 years ago, NYSIF has fulfilled this mission by competing with other insurance carriers to ensure a fair marketplace while serving as a guaranteed source of coverage for employers that cannot secure coverage elsewhere. NYSIF strives to achieve the best health outcomes for injured workers and be an industry leader in price, quality, and service for New York employers. For more information, visit nysif.com.

    MIL OSI USA News –

  • MIL-OSI USA: Maryland IT Company Agrees to Pay $14.75M to Resolve Alleged False Claims

    Source: US State of North Dakota

    Hill ASC Inc., doing business as Hill Associates, of Rockville, Maryland, agreed to pay at least $14.75 million to resolve allegations that it violated the False Claims Act in connection with a General Services Administration (GSA) contract for information technology services.

    This settlement relates to a contract under which Hill provided information technology services to federal agencies from 2018 to 2023 through GSA’s Multiple Award Schedule (MAS) program. The MAS program provides the government with a streamlined process to buy commonly used commercial goods and services.  GSA negotiates contract terms and other agencies can then buy goods and services from the contractor under that GSA MAS contract. The settlement resolves allegations that Hill billed federal agencies for labor of information technology personnel who did not have the experience or education required under the contract. In addition, it resolves allegations that, although GSA required technical evaluations for contractors who sought to offer highly adaptive cybersecurity services to government customers, and Hill had not passed such an evaluation, Hill submitted claims for such cybersecurity services and other services that were not within the scope of the MAS contract. Finally, it resolves allegations that Hill charged the government for unapproved fees, failed to provide government customers with required information about discounts for prompt payment, and included unallowable incentive compensation in a cost submission in connection with a new contract proposal.

    Under the settlement with the United States, Hill has agreed to pay $14.75 million, plus additional amounts if certain financial contingencies occur. The settlement amount was based on the company’s ability to pay.

    “Information technology contractors are expected to charge the government appropriately for their services,” said Assistant Attorney General Brett A. Shumate of the Justice Department’s Civil Division. “We will continue to pursue cyber fraud and hold accountable those companies that knowingly fail to meet contractual obligations to the American taxpayers.”

    “Federal agencies should get what they have paid for from GSA contractors, nothing less,” said GSA Deputy Inspector General Robert C. Erickson. “I appreciate the hard work of all the attorneys, auditors, and special agents involved in this investigation.”

    “False claims and similar unfair advantage by contractors undermine the integrity of the contracting process and can result in significant adverse effects to vital security concerns,” said Treasury Deputy Inspector General Loren Sciurba. “Treasury OIG is committed to conducting and assisting other agencies to the utmost in investigations, audits, and other work to detect and prevent these violations of the public trust.”

    “As the nation’s tax watchdog, the Treasury Inspector General for Tax Administration (TIGTA) is dedicated to safeguarding the integrity of the Internal Revenue Service (IRS)’s contracting and procurement processes,” said Acting Special Agent in Charge Jessica Cipolla of TIGTA’s Gulf States Field Division. “We remain steadfast in our mission to expose and hold accountable those who attempt to defraud the IRS. Anyone doing business with the IRS or the Department of the Treasury is expected to operate with the highest levels of honesty and integrity. We are grateful to the U.S. Department of Justice and our law enforcement partners for their continued collaboration and critical support in this investigation.”

    The resolution obtained in this matter was the result of a coordinated effort between the Justice Department’s Civil Division, Commercial Litigation Branch, Fraud Section, the GSA’s Office of the Inspector General, the Treasury Department’s Office of Inspector General, and TIGTA. The matter was handled by Senior Trial Counsel Christopher Terranova of the Fraud Section.

    The claims resolved by the settlement are allegations only, and there has been no determination of liability.

    MIL OSI USA News –

  • MIL-OSI USA: Maryland IT Company Agrees to Pay $14.75M to Resolve Alleged False Claims

    Source: US State of North Dakota

    Hill ASC Inc., doing business as Hill Associates, of Rockville, Maryland, agreed to pay at least $14.75 million to resolve allegations that it violated the False Claims Act in connection with a General Services Administration (GSA) contract for information technology services.

    This settlement relates to a contract under which Hill provided information technology services to federal agencies from 2018 to 2023 through GSA’s Multiple Award Schedule (MAS) program. The MAS program provides the government with a streamlined process to buy commonly used commercial goods and services.  GSA negotiates contract terms and other agencies can then buy goods and services from the contractor under that GSA MAS contract. The settlement resolves allegations that Hill billed federal agencies for labor of information technology personnel who did not have the experience or education required under the contract. In addition, it resolves allegations that, although GSA required technical evaluations for contractors who sought to offer highly adaptive cybersecurity services to government customers, and Hill had not passed such an evaluation, Hill submitted claims for such cybersecurity services and other services that were not within the scope of the MAS contract. Finally, it resolves allegations that Hill charged the government for unapproved fees, failed to provide government customers with required information about discounts for prompt payment, and included unallowable incentive compensation in a cost submission in connection with a new contract proposal.

    Under the settlement with the United States, Hill has agreed to pay $14.75 million, plus additional amounts if certain financial contingencies occur. The settlement amount was based on the company’s ability to pay.

    “Information technology contractors are expected to charge the government appropriately for their services,” said Assistant Attorney General Brett A. Shumate of the Justice Department’s Civil Division. “We will continue to pursue cyber fraud and hold accountable those companies that knowingly fail to meet contractual obligations to the American taxpayers.”

    “Federal agencies should get what they have paid for from GSA contractors, nothing less,” said GSA Deputy Inspector General Robert C. Erickson. “I appreciate the hard work of all the attorneys, auditors, and special agents involved in this investigation.”

    “False claims and similar unfair advantage by contractors undermine the integrity of the contracting process and can result in significant adverse effects to vital security concerns,” said Treasury Deputy Inspector General Loren Sciurba. “Treasury OIG is committed to conducting and assisting other agencies to the utmost in investigations, audits, and other work to detect and prevent these violations of the public trust.”

    “As the nation’s tax watchdog, the Treasury Inspector General for Tax Administration (TIGTA) is dedicated to safeguarding the integrity of the Internal Revenue Service (IRS)’s contracting and procurement processes,” said Acting Special Agent in Charge Jessica Cipolla of TIGTA’s Gulf States Field Division. “We remain steadfast in our mission to expose and hold accountable those who attempt to defraud the IRS. Anyone doing business with the IRS or the Department of the Treasury is expected to operate with the highest levels of honesty and integrity. We are grateful to the U.S. Department of Justice and our law enforcement partners for their continued collaboration and critical support in this investigation.”

    The resolution obtained in this matter was the result of a coordinated effort between the Justice Department’s Civil Division, Commercial Litigation Branch, Fraud Section, the GSA’s Office of the Inspector General, the Treasury Department’s Office of Inspector General, and TIGTA. The matter was handled by Senior Trial Counsel Christopher Terranova of the Fraud Section.

    The claims resolved by the settlement are allegations only, and there has been no determination of liability.

    MIL OSI USA News –

  • MIL-OSI Security: Maryland IT Company Agrees to Pay $14.75M to Resolve Alleged False Claims

    Source: United States Department of Justice Criminal Division

    Hill ASC Inc., doing business as Hill Associates, of Rockville, Maryland, agreed to pay at least $14.75 million to resolve allegations that it violated the False Claims Act in connection with a General Services Administration (GSA) contract for information technology services.

    This settlement relates to a contract under which Hill provided information technology services to federal agencies from 2018 to 2023 through GSA’s Multiple Award Schedule (MAS) program. The MAS program provides the government with a streamlined process to buy commonly used commercial goods and services.  GSA negotiates contract terms and other agencies can then buy goods and services from the contractor under that GSA MAS contract. The settlement resolves allegations that Hill billed federal agencies for labor of information technology personnel who did not have the experience or education required under the contract. In addition, it resolves allegations that, although GSA required technical evaluations for contractors who sought to offer highly adaptive cybersecurity services to government customers, and Hill had not passed such an evaluation, Hill submitted claims for such cybersecurity services and other services that were not within the scope of the MAS contract. Finally, it resolves allegations that Hill charged the government for unapproved fees, failed to provide government customers with required information about discounts for prompt payment, and included unallowable incentive compensation in a cost submission in connection with a new contract proposal.

    Under the settlement with the United States, Hill has agreed to pay $14.75 million, plus additional amounts if certain financial contingencies occur. The settlement amount was based on the company’s ability to pay.

    “Information technology contractors are expected to charge the government appropriately for their services,” said Assistant Attorney General Brett A. Shumate of the Justice Department’s Civil Division. “We will continue to pursue cyber fraud and hold accountable those companies that knowingly fail to meet contractual obligations to the American taxpayers.”

    “Federal agencies should get what they have paid for from GSA contractors, nothing less,” said GSA Deputy Inspector General Robert C. Erickson. “I appreciate the hard work of all the attorneys, auditors, and special agents involved in this investigation.”

    “False claims and similar unfair advantage by contractors undermine the integrity of the contracting process and can result in significant adverse effects to vital security concerns,” said Treasury Deputy Inspector General Loren Sciurba. “Treasury OIG is committed to conducting and assisting other agencies to the utmost in investigations, audits, and other work to detect and prevent these violations of the public trust.”

    “As the nation’s tax watchdog, the Treasury Inspector General for Tax Administration (TIGTA) is dedicated to safeguarding the integrity of the Internal Revenue Service (IRS)’s contracting and procurement processes,” said Acting Special Agent in Charge Jessica Cipolla of TIGTA’s Gulf States Field Division. “We remain steadfast in our mission to expose and hold accountable those who attempt to defraud the IRS. Anyone doing business with the IRS or the Department of the Treasury is expected to operate with the highest levels of honesty and integrity. We are grateful to the U.S. Department of Justice and our law enforcement partners for their continued collaboration and critical support in this investigation.”

    The resolution obtained in this matter was the result of a coordinated effort between the Justice Department’s Civil Division, Commercial Litigation Branch, Fraud Section, the GSA’s Office of the Inspector General, the Treasury Department’s Office of Inspector General, and TIGTA. The matter was handled by Senior Trial Counsel Christopher Terranova of the Fraud Section.

    The claims resolved by the settlement are allegations only, and there has been no determination of liability.

    MIL Security OSI –

  • MIL-OSI USA: Speaker Johnson Op-ed: The True Meaning of The Separation of Church and State

    Source: United States House of Representatives – Representative Mike Johnson (LA-04)

    WASHINGTON — Today, Speaker Johnson published an op-ed on X titled, “The True Meaning of ‘The Separation of Church and State.’”

    “As we approach the 250th birthday of our great nation, it has never been more important to defend truth on every front, repair our foundations, and hold fast to who we are and what we stand for,” Speaker Johnson wrote.

    Read Speaker Johnson’s full op-ed on X here or below:

    Amid all the other big news this week, a landmark development in a federal court in Texas drew less attention than expected. On Monday, the IRS agreed to a consent judgment that will restore the First Amendment rights of churches and religious non-profit organizations to speak freely without losing their tax-exempt status. The court should quickly approve that proposed settlement of a lawsuit filed by the National Religious Broadcasters and Texas churches, which was brought to overturn a 1950s-era provision in the tax code known as “the Johnson Amendment.”

    As a former constitutional law litigator, I – along with many of my former colleagues – have long argued that the Johnson Amendment is unconstitutional. President Trump understands this well, and in his speech to the 2017 National Prayer Breakfast, he resolved to “get rid of and totally destroy the Johnson Amendment and allow our representatives of faith to speak freely and without fear of retribution.” Resolving the Texas case will be key to ensuring that people of faith are no longer censored and silenced because of the tax code – and hopefully it will serve as a teachable moment about one of the most misunderstood subjects in our culture.

    Most people today who insist upon a rigid “separation between church and state” are unaware the phrase derives not from the Constitution, but from a personal letter that President Thomas Jefferson wrote to the Danbury Baptist Association in 1802.

    He explained that because “religion is a matter which lies solely between Man & his God,” the language of the First Amendment is a vital safeguard for our “rights of conscience.” Jefferson said he revered “that act of the whole American people which declared that their legislature should ‘make no law respecting an establishment of religion, or prohibiting the free exercise thereof,’ thus building a wall of separation between Church & State.”

    Jefferson clearly did not mean that metaphorical “wall” was to keep religion from influencing issues of civil government. To the contrary, it was meant to keep the federal government from impeding the religious practice of citizens. The Founders wanted to protect the church from an encroaching state, not the other way around.

    The majority of the Founders, having personally witnessed the abuses of the Church of England, were determined to prevent the official establishment of any single national denomination or religion. However, they very deliberately listed religious liberty (the free exercise of religion) as the first freedom protected in the Bill of Rights **because they wanted everyone to freely live out their faith – as that would ensure a robust presence of moral virtue in the public square and the free marketplace of ideas.**

    Volumes written on this topic can be summarized by reference to the sentiments of our first two presidents. In his historic Farewell Address, “the Father of our Country,” George Washington, declared: “Of all the dispositions and habits which lead to political prosperity, religion and morality are indispensable supports.” John Adams warned directly: “Our Constitution is made only for a moral and religious people. It is wholly inadequate to the government of any other.”

    What these two Founders and their fellow patriots all understood from history was that there are many important rules and practices that can help build and sustain a healthy republic. But the key – and the essential foundation – of a system of government like ours must be a common commitment among the citizenry to the principles of religion and morality.

    The Founders acknowledged in the Declaration the self-evident truths that all men are created equal, and that God gives all men the same inalienable rights. However, they knew that in order to maintain a government “of the people, by the people and for the people,” as Lincoln articulated, in “this nation, under God,” those inalienable rights must be exercised in a responsible manner. They thus believed in liberty that is legitimately constrained by a common sense of morality – and a healthy fear of the Creator, who granted all men our rights.

    The Founders understood that all men are fallen and that power corrupts. They also knew that no amount of institutional checks and balances or decentralization of power in civil authorities would be sufficient to maintain a just government if the men in charge had no fear of eternal judgment by a power HIGHER than their temporal institutions.

    A free society and a healthy republic depend upon religious and moral virtue- not only because they help prevent political corruption and the abuse of power – but also because those convictions in the minds and hearts of the people make it possible to preserve their essential freedoms by emphasizing and inspiring individual responsibility, self-sacrifice, the dignity of hard work, the rule of law, civility, patriotism, the value of family and community, and the sanctity of every human life. Without those virtues, “indispensably supported” by religion and morality, every nation will ultimately fall.

    Inscribed on the third panel of the Jefferson Memorial here in Washington, D.C., is his sobering reminder to every American: “God who gave us life gave us liberty. Can the liberties of a nation be secure when we have removed a conviction that these liberties are the gift of God? Indeed I tremble for my country when I reflect that God is just, that his justice cannot sleep forever.”

    The experience of history teaches that these principles are universal and timeless, and they certainly apply to our nation today. Alexis de Tocqueville is credited with the keen observation that “America is great because she is good, and if she ever ceases to be good, she will cease to be great.” That has been the key to our exceptionalism. Our republic depends upon it now more than ever, and it is our job to instill and preserve it.

    As we approach the 250th birthday of our great nation, it has never been more important to defend truth on every front, repair our foundations, and hold fast to who we are and what we stand for. Anyone who has been misled to believe that religious principles and viewpoints must be separated from public affairs should be reminded to review their history. Let us hope the federal court in Texas accepts the IRS consent judgment as yet another acknowledgment of these essential truths.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Speaker Johnson Op-ed: The True Meaning of The Separation of Church and State

    Source: United States House of Representatives – Representative Mike Johnson (LA-04)

    WASHINGTON — Today, Speaker Johnson published an op-ed on X titled, “The True Meaning of ‘The Separation of Church and State.’”

    “As we approach the 250th birthday of our great nation, it has never been more important to defend truth on every front, repair our foundations, and hold fast to who we are and what we stand for,” Speaker Johnson wrote.

    Read Speaker Johnson’s full op-ed on X here or below:

    Amid all the other big news this week, a landmark development in a federal court in Texas drew less attention than expected. On Monday, the IRS agreed to a consent judgment that will restore the First Amendment rights of churches and religious non-profit organizations to speak freely without losing their tax-exempt status. The court should quickly approve that proposed settlement of a lawsuit filed by the National Religious Broadcasters and Texas churches, which was brought to overturn a 1950s-era provision in the tax code known as “the Johnson Amendment.”

    As a former constitutional law litigator, I – along with many of my former colleagues – have long argued that the Johnson Amendment is unconstitutional. President Trump understands this well, and in his speech to the 2017 National Prayer Breakfast, he resolved to “get rid of and totally destroy the Johnson Amendment and allow our representatives of faith to speak freely and without fear of retribution.” Resolving the Texas case will be key to ensuring that people of faith are no longer censored and silenced because of the tax code – and hopefully it will serve as a teachable moment about one of the most misunderstood subjects in our culture.

    Most people today who insist upon a rigid “separation between church and state” are unaware the phrase derives not from the Constitution, but from a personal letter that President Thomas Jefferson wrote to the Danbury Baptist Association in 1802.

    He explained that because “religion is a matter which lies solely between Man & his God,” the language of the First Amendment is a vital safeguard for our “rights of conscience.” Jefferson said he revered “that act of the whole American people which declared that their legislature should ‘make no law respecting an establishment of religion, or prohibiting the free exercise thereof,’ thus building a wall of separation between Church & State.”

    Jefferson clearly did not mean that metaphorical “wall” was to keep religion from influencing issues of civil government. To the contrary, it was meant to keep the federal government from impeding the religious practice of citizens. The Founders wanted to protect the church from an encroaching state, not the other way around.

    The majority of the Founders, having personally witnessed the abuses of the Church of England, were determined to prevent the official establishment of any single national denomination or religion. However, they very deliberately listed religious liberty (the free exercise of religion) as the first freedom protected in the Bill of Rights **because they wanted everyone to freely live out their faith – as that would ensure a robust presence of moral virtue in the public square and the free marketplace of ideas.**

    Volumes written on this topic can be summarized by reference to the sentiments of our first two presidents. In his historic Farewell Address, “the Father of our Country,” George Washington, declared: “Of all the dispositions and habits which lead to political prosperity, religion and morality are indispensable supports.” John Adams warned directly: “Our Constitution is made only for a moral and religious people. It is wholly inadequate to the government of any other.”

    What these two Founders and their fellow patriots all understood from history was that there are many important rules and practices that can help build and sustain a healthy republic. But the key – and the essential foundation – of a system of government like ours must be a common commitment among the citizenry to the principles of religion and morality.

    The Founders acknowledged in the Declaration the self-evident truths that all men are created equal, and that God gives all men the same inalienable rights. However, they knew that in order to maintain a government “of the people, by the people and for the people,” as Lincoln articulated, in “this nation, under God,” those inalienable rights must be exercised in a responsible manner. They thus believed in liberty that is legitimately constrained by a common sense of morality – and a healthy fear of the Creator, who granted all men our rights.

    The Founders understood that all men are fallen and that power corrupts. They also knew that no amount of institutional checks and balances or decentralization of power in civil authorities would be sufficient to maintain a just government if the men in charge had no fear of eternal judgment by a power HIGHER than their temporal institutions.

    A free society and a healthy republic depend upon religious and moral virtue- not only because they help prevent political corruption and the abuse of power – but also because those convictions in the minds and hearts of the people make it possible to preserve their essential freedoms by emphasizing and inspiring individual responsibility, self-sacrifice, the dignity of hard work, the rule of law, civility, patriotism, the value of family and community, and the sanctity of every human life. Without those virtues, “indispensably supported” by religion and morality, every nation will ultimately fall.

    Inscribed on the third panel of the Jefferson Memorial here in Washington, D.C., is his sobering reminder to every American: “God who gave us life gave us liberty. Can the liberties of a nation be secure when we have removed a conviction that these liberties are the gift of God? Indeed I tremble for my country when I reflect that God is just, that his justice cannot sleep forever.”

    The experience of history teaches that these principles are universal and timeless, and they certainly apply to our nation today. Alexis de Tocqueville is credited with the keen observation that “America is great because she is good, and if she ever ceases to be good, she will cease to be great.” That has been the key to our exceptionalism. Our republic depends upon it now more than ever, and it is our job to instill and preserve it.

    As we approach the 250th birthday of our great nation, it has never been more important to defend truth on every front, repair our foundations, and hold fast to who we are and what we stand for. Anyone who has been misled to believe that religious principles and viewpoints must be separated from public affairs should be reminded to review their history. Let us hope the federal court in Texas accepts the IRS consent judgment as yet another acknowledgment of these essential truths.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Speaker Johnson Op-ed: The True Meaning of The Separation of Church and State

    Source: United States House of Representatives – Representative Mike Johnson (LA-04)

    WASHINGTON — Today, Speaker Johnson published an op-ed on X titled, “The True Meaning of ‘The Separation of Church and State.’”

    “As we approach the 250th birthday of our great nation, it has never been more important to defend truth on every front, repair our foundations, and hold fast to who we are and what we stand for,” Speaker Johnson wrote.

    Read Speaker Johnson’s full op-ed on X here or below:

    Amid all the other big news this week, a landmark development in a federal court in Texas drew less attention than expected. On Monday, the IRS agreed to a consent judgment that will restore the First Amendment rights of churches and religious non-profit organizations to speak freely without losing their tax-exempt status. The court should quickly approve that proposed settlement of a lawsuit filed by the National Religious Broadcasters and Texas churches, which was brought to overturn a 1950s-era provision in the tax code known as “the Johnson Amendment.”

    As a former constitutional law litigator, I – along with many of my former colleagues – have long argued that the Johnson Amendment is unconstitutional. President Trump understands this well, and in his speech to the 2017 National Prayer Breakfast, he resolved to “get rid of and totally destroy the Johnson Amendment and allow our representatives of faith to speak freely and without fear of retribution.” Resolving the Texas case will be key to ensuring that people of faith are no longer censored and silenced because of the tax code – and hopefully it will serve as a teachable moment about one of the most misunderstood subjects in our culture.

    Most people today who insist upon a rigid “separation between church and state” are unaware the phrase derives not from the Constitution, but from a personal letter that President Thomas Jefferson wrote to the Danbury Baptist Association in 1802.

    He explained that because “religion is a matter which lies solely between Man & his God,” the language of the First Amendment is a vital safeguard for our “rights of conscience.” Jefferson said he revered “that act of the whole American people which declared that their legislature should ‘make no law respecting an establishment of religion, or prohibiting the free exercise thereof,’ thus building a wall of separation between Church & State.”

    Jefferson clearly did not mean that metaphorical “wall” was to keep religion from influencing issues of civil government. To the contrary, it was meant to keep the federal government from impeding the religious practice of citizens. The Founders wanted to protect the church from an encroaching state, not the other way around.

    The majority of the Founders, having personally witnessed the abuses of the Church of England, were determined to prevent the official establishment of any single national denomination or religion. However, they very deliberately listed religious liberty (the free exercise of religion) as the first freedom protected in the Bill of Rights **because they wanted everyone to freely live out their faith – as that would ensure a robust presence of moral virtue in the public square and the free marketplace of ideas.**

    Volumes written on this topic can be summarized by reference to the sentiments of our first two presidents. In his historic Farewell Address, “the Father of our Country,” George Washington, declared: “Of all the dispositions and habits which lead to political prosperity, religion and morality are indispensable supports.” John Adams warned directly: “Our Constitution is made only for a moral and religious people. It is wholly inadequate to the government of any other.”

    What these two Founders and their fellow patriots all understood from history was that there are many important rules and practices that can help build and sustain a healthy republic. But the key – and the essential foundation – of a system of government like ours must be a common commitment among the citizenry to the principles of religion and morality.

    The Founders acknowledged in the Declaration the self-evident truths that all men are created equal, and that God gives all men the same inalienable rights. However, they knew that in order to maintain a government “of the people, by the people and for the people,” as Lincoln articulated, in “this nation, under God,” those inalienable rights must be exercised in a responsible manner. They thus believed in liberty that is legitimately constrained by a common sense of morality – and a healthy fear of the Creator, who granted all men our rights.

    The Founders understood that all men are fallen and that power corrupts. They also knew that no amount of institutional checks and balances or decentralization of power in civil authorities would be sufficient to maintain a just government if the men in charge had no fear of eternal judgment by a power HIGHER than their temporal institutions.

    A free society and a healthy republic depend upon religious and moral virtue- not only because they help prevent political corruption and the abuse of power – but also because those convictions in the minds and hearts of the people make it possible to preserve their essential freedoms by emphasizing and inspiring individual responsibility, self-sacrifice, the dignity of hard work, the rule of law, civility, patriotism, the value of family and community, and the sanctity of every human life. Without those virtues, “indispensably supported” by religion and morality, every nation will ultimately fall.

    Inscribed on the third panel of the Jefferson Memorial here in Washington, D.C., is his sobering reminder to every American: “God who gave us life gave us liberty. Can the liberties of a nation be secure when we have removed a conviction that these liberties are the gift of God? Indeed I tremble for my country when I reflect that God is just, that his justice cannot sleep forever.”

    The experience of history teaches that these principles are universal and timeless, and they certainly apply to our nation today. Alexis de Tocqueville is credited with the keen observation that “America is great because she is good, and if she ever ceases to be good, she will cease to be great.” That has been the key to our exceptionalism. Our republic depends upon it now more than ever, and it is our job to instill and preserve it.

    As we approach the 250th birthday of our great nation, it has never been more important to defend truth on every front, repair our foundations, and hold fast to who we are and what we stand for. Anyone who has been misled to believe that religious principles and viewpoints must be separated from public affairs should be reminded to review their history. Let us hope the federal court in Texas accepts the IRS consent judgment as yet another acknowledgment of these essential truths.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Seattle Businessman Convicted of Tax Evasion and Filing False Tax Returns

    Source: US State of California

    A federal jury convicted a Washington man on Friday for tax evasion and filing false tax returns related to a scheme to conceal income received from his commercial property business.

    The following is according to court documents and evidence presented at trial: Steven Loo, of Seattle, controlled and operated eight companies that owned commercial real estate. Each was managed by independent property management companies, which were responsible for managing the day-to-day operations of the real estate. Loo diverted the income he earned from his real estate by instructing the property management companies to issue checks, categorized as asset management fees, to two other entities that Loo controlled. Loo knew that the funds deposited into these bank accounts, totaling more than $4.8 million, were income to him and that he was required to report and pay tax on the funds. Nevertheless, Loo filed tax returns for 2015 through 2020 that did not report or pay tax on these funds.

    Evidence presented at trial showed that Loo owes $1.6 million in taxes on his unreported income.

    Loo is scheduled to be sentenced on Oct. 9. He faces a maximum penalty of three years in prison for each of the false tax return charges and a maximum penalty of five years in prison for each of the tax evasion charges for which he was convicted. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division, and U.S. Attorney Teal Luthy Miller for the Western District of Washington made the announcement.

    IRS Criminal Investigation investigated the case.

    Trial Attorney Regina Jeon of the Tax Division and Assistant U.S. Attorneys Michael Dion and Sean Waite for the Western District of Washington prosecuted the case.

    MIL OSI USA News –

  • MIL-OSI USA: Seattle Businessman Convicted of Tax Evasion and Filing False Tax Returns

    Source: US State of California

    A federal jury convicted a Washington man on Friday for tax evasion and filing false tax returns related to a scheme to conceal income received from his commercial property business.

    The following is according to court documents and evidence presented at trial: Steven Loo, of Seattle, controlled and operated eight companies that owned commercial real estate. Each was managed by independent property management companies, which were responsible for managing the day-to-day operations of the real estate. Loo diverted the income he earned from his real estate by instructing the property management companies to issue checks, categorized as asset management fees, to two other entities that Loo controlled. Loo knew that the funds deposited into these bank accounts, totaling more than $4.8 million, were income to him and that he was required to report and pay tax on the funds. Nevertheless, Loo filed tax returns for 2015 through 2020 that did not report or pay tax on these funds.

    Evidence presented at trial showed that Loo owes $1.6 million in taxes on his unreported income.

    Loo is scheduled to be sentenced on Oct. 9. He faces a maximum penalty of three years in prison for each of the false tax return charges and a maximum penalty of five years in prison for each of the tax evasion charges for which he was convicted. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division, and U.S. Attorney Teal Luthy Miller for the Western District of Washington made the announcement.

    IRS Criminal Investigation investigated the case.

    Trial Attorney Regina Jeon of the Tax Division and Assistant U.S. Attorneys Michael Dion and Sean Waite for the Western District of Washington prosecuted the case.

    MIL OSI USA News –

  • MIL-OSI USA: Seattle Businessman Convicted of Tax Evasion and Filing False Tax Returns

    Source: US State of California

    A federal jury convicted a Washington man on Friday for tax evasion and filing false tax returns related to a scheme to conceal income received from his commercial property business.

    The following is according to court documents and evidence presented at trial: Steven Loo, of Seattle, controlled and operated eight companies that owned commercial real estate. Each was managed by independent property management companies, which were responsible for managing the day-to-day operations of the real estate. Loo diverted the income he earned from his real estate by instructing the property management companies to issue checks, categorized as asset management fees, to two other entities that Loo controlled. Loo knew that the funds deposited into these bank accounts, totaling more than $4.8 million, were income to him and that he was required to report and pay tax on the funds. Nevertheless, Loo filed tax returns for 2015 through 2020 that did not report or pay tax on these funds.

    Evidence presented at trial showed that Loo owes $1.6 million in taxes on his unreported income.

    Loo is scheduled to be sentenced on Oct. 9. He faces a maximum penalty of three years in prison for each of the false tax return charges and a maximum penalty of five years in prison for each of the tax evasion charges for which he was convicted. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division, and U.S. Attorney Teal Luthy Miller for the Western District of Washington made the announcement.

    IRS Criminal Investigation investigated the case.

    Trial Attorney Regina Jeon of the Tax Division and Assistant U.S. Attorneys Michael Dion and Sean Waite for the Western District of Washington prosecuted the case.

    MIL OSI USA News –

  • MIL-OSI Security: Seattle Businessman Convicted of Tax Evasion and Filing False Tax Returns

    Source: United States Department of Justice Criminal Division

    A federal jury convicted a Washington man on Friday for tax evasion and filing false tax returns related to a scheme to conceal income received from his commercial property business.

    The following is according to court documents and evidence presented at trial: Steven Loo, of Seattle, controlled and operated eight companies that owned commercial real estate. Each was managed by independent property management companies, which were responsible for managing the day-to-day operations of the real estate. Loo diverted the income he earned from his real estate by instructing the property management companies to issue checks, categorized as asset management fees, to two other entities that Loo controlled. Loo knew that the funds deposited into these bank accounts, totaling more than $4.8 million, were income to him and that he was required to report and pay tax on the funds. Nevertheless, Loo filed tax returns for 2015 through 2020 that did not report or pay tax on these funds.

    Evidence presented at trial showed that Loo owes $1.6 million in taxes on his unreported income.

    Loo is scheduled to be sentenced on Oct. 9. He faces a maximum penalty of three years in prison for each of the false tax return charges and a maximum penalty of five years in prison for each of the tax evasion charges for which he was convicted. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division, and U.S. Attorney Teal Luthy Miller for the Western District of Washington made the announcement.

    IRS Criminal Investigation investigated the case.

    Trial Attorney Regina Jeon of the Tax Division and Assistant U.S. Attorneys Michael Dion and Sean Waite for the Western District of Washington prosecuted the case.

    MIL Security OSI –

  • MIL-OSI: Ice and Fire of Bitcoin Mining: Cost Dilemma and Green Computing Revolution under $118,000, KGN Cloud Mining Triggers Global Hot Spots

    Source: GlobeNewswire (MIL-OSI)

    New York City, NY, July 14, 2025 (GLOBE NEWSWIRE) —

    The total network computing power exceeded the historical high of 900 EH/s, and the mining cost of each BTC soared 34% to $70,000-miners are looking for the survival code in the carnival and anxiety.

    01 Computing power inflation and cost crisis: the life and death game of mining
    Cost storm: The mining cost of a single Bitcoin exceeded $70,000 in Q2 2025, a 34% increase from the beginning of the year. After the halving, the block reward was halved to 3.125 BTC, but the total network computing power rose against the trend to 908 EH/s, causing the unit computing power income (Hashprice) to plummet by 60% to $0.049/TH.

    Energy noose: The energy cost of North American mining companies doubled year-on-year, and mining machines in areas with electricity prices exceeding $0.1/kWh were shut down on a large scale. The Middle East has become a new gold mine – the UAE government project electricity price is as low as $0.035/kWh, and Oman subsidizes electricity prices of $0.05-0.07/kWh, attracting large-scale capital migration.

    02 Capital mergers and acquisitions and technological revolution: Reconstructing the new mining landscape
    Capital integration wave
    Giant acquisitions: AI cloud computing company CoreWeave acquired British mining company CoreScientific. The stock price soared 18.5% on the day the transaction was exposed, revealing the value transfer of computing power assets to technology giants.

    Financing frenzy: American Bitcoin Corp, supported by the Trump family, raised $215 million; listed mining companies Mara, Riot, and CleanSpark raised more than $3.7 billion in half a year; Southeast Asian mining company CloudKGN received $120 million from Sequoia Capital to expand the Singapore hydropower station data center.

    Technical breakthrough path
    Technical direction Breakthrough case Energy efficiency improvement
    Liquid-cooled mining machine cluster KGNcloud third-generation liquid cooling system Mining machine density increased by 3 times, energy consumption reduced by 35%
    Dynamic load balancing Mining computing power and AI task intelligent scheduling Energy reuse rate exceeds 80%
    Hybrid mining protocol Dynamic switching of 6 currencies including BTC/ETH Revenue volatility risk reduced by 57%
    “The essence of mining machines is upgrading from ‘computing power tools’ to ‘energy converters’” – Bitmain’s chief engineer pointed out at the 2025 World Mining Summit

    03、Personal miner survival guide: The cruel reality of the four major tracks
    Lottery Mining

    •  Operation: Use 3-5 TH/s small equipment for independent mining

    Income: The success rate is only 0.0000006%, but in 2024, there will be miners with 3 TH/s wins $200,000 block reward

    •  ASIC single-soldier combat

    Hardware threshold: Ant S21+ (235TH/s) or Shenma M61 (202TH/s), the cost of a single unit exceeds $3000

    Cruel reality: The average daily income of a single machine is 0.000133 BTC, and a cluster of more than 20 units is required to break 1 block per year

    •  Pool mining (mainstream choice)

    Income logic: income is distributed according to the proportion of computing power, and the FPPS mode guarantees daily settlement

    Recommended mining pools: Foundry USA (rate 1.5%), AntPool (FPPS+PPLNS dual mode)

    Case: 10 S21+ join AntPool, with an average daily income of about 0.00133 BTC (about $112)

    04 、Why choose KGNcloud?
    KGNcloud combines technological advantages with financial compliance to create the world’s leading intelligent cloud mining platform:

    •  UK FCA Authoritative Certification

    The platform has passed the UK Financial Conduct Authority (FCA) compliance certification, with formal operations, transparent funds, and user asset security.

    All new users will automatically receive $100 worth of free computing power after registration, and can start mining without recharging, truly realizing a zero-cost experience of daily cryptocurrency income.

    •  The only “principal and interest guaranteed” contract in the entire network

    KGNcloud pioneered the “principal and interest guaranteed” mining mechanism, locking the principal and distributing fixed income every day, helping users to make stable profits without fear of fluctuations.

    •  AI intelligent mining system

    The platform uses AI algorithms to automatically dispatch the world’s best mining pool resources to achieve 24-hour uninterrupted and efficient mining, and the income far exceeds the industry average.

    • The income is settled daily and can be withdrawn or reinvested at any time

    Users can flexibly manage income and withdraw coins quickly, supporting mainstream currencies such as BTC, USDT, ETH, and XRP.

    Summary:
    KGN cloud offers up to 6.63% daily returns through cloud mining, without having to worry about market fluctuations. Join KGN Miner now, get a $500 free trial, and start enjoying a stable and easy cryptocurrency income. Stop blindly following the trend – start mining and grow your wealth.

    Sign up now to get $100 worth of free cloud computing power and start your path to a stable daily income.

    Website：https://kgnminer.com
    Connect:support@kgnminer.com

    Attachment

    The MIL Network –

  • MIL-OSI: AI Mining Meets Bitcoin: PFMCrypto Launches Hassle-Free XRP Cloud Mining with Daily Payouts

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, July 14, 2025 (GLOBE NEWSWIRE) — As Bitcoin’s ecosystem gains global momentum, PFMCrypto is proud to introduce a major leap in accessible crypto mining: the launch of BTC-focused cloud mining contracts. Now available on both web and mobile platforms, these flexible short-term contracts allow users to mine BTC remotely and receive daily BTC rewards—no mining hardware, no complex setup, and no prior experience required. For the first time, retail participants can engage with the Bitcoin economy through a streamlined, fully integrated platform.
    Explore the PFMCrypto website or download the app today.

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

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

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

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

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

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

    BTC Mining for a Digital Future:
    Since 2018, PFMCrypto has helped millions of users around the world generate passive crypto income through secure, smart, cloud-based mining. With the introduction of BTC mining, the platform offers the ideal combination of institutional-grade infrastructure and retail accessibility. Now, users can choose to earn directly in BTC or diversify into major digital assets—all within a secure, fully remote environment.
    “Bitcoin has always been secure, decentralized, and globally trusted,” said a PFMCrypto spokesperson. “Now, it’s also mineable—securely, remotely, and profitably. We’ve eliminated the barriers so anyone can participate in Bitcoin’s future growth.”
    Markets may shift—but daily mining income can remain steady.

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

    The MIL Network –

  • MIL-OSI Canada: Canada’s new government to consult on its first federal budget

    Source: Government of Canada News (2)

    July 14, 2025 – Ottawa, Ontario – Department of Finance Canada 

    In the election, Canadians called for change – and Canada’s new government is moving with urgency to deliver this change. Budget 2025 will spend less and invest more to catalyze private capital, unleash investment, and build the strongest economy in the G7.

    As the new government prepares for the tabling of Budget 2025 in the fall, the Minister of Finance and National Revenue, the Honourable François-Philippe Champagne, is launching pre-budget consultations. Starting today, until August 28, 2025, Canadians can participate in the consultations by sharing their thoughts on key issues at Canada.ca/YourBudget.

    Consultations will focus on bringing down costs for Canadians – building on measures such as the middle-class tax cut which saves a two-income family up to $840 a year and removing GST on new homes under $1 million for first-time buyers. Consultations will also emphasize job-creation, including measures to build more homes, expedite nation-building projects, and bolster Canada’s defence industrial capacity.

    In the weeks to come, the Minister of Finance, alongside Secretary of State, Wayne Long, and Parliamentary Secretary, Ryan Turnbull, will also be meeting with stakeholders and individuals across the country as part of the pre-budget consultation process.

    This Budget will deliver on the new government’s mandate to bring down costs, keep communities safe, diversify trade, and build one strong Canadian economy. With a responsible fiscal plan – we will spend less, invest more, and build Canada as an economic force for decades to come.  

    MIL OSI Canada News –

  • MIL-OSI Security: Philadelphia Resident Sentenced to 15 Years in Prison for Leading Large-Scale Drug Trafficking Organization

    Source: US FBI

    JOHNSTOWN, Pa. – A resident of Philadelphia, Pennsylvania, was sentenced in federal court to 180 months in prison, to be followed by five years of supervised release, on his convictions of conspiracy to distribute and possession with intent to distribute heroin, cocaine, crack, fentanyl, and methamphetamine, Acting United States Attorney Troy Rivetti announced today.

    United States District Judge Marilyn J. Horan imposed the sentence on Mikal Davis, 47.

    According to information presented to the Court, from in and around April 2019 to July 2021, in the Western District of Pennsylvania, Davis conspired with others to distribute and possess with intent to distribute one kilogram or more of a mixture of heroin, five kilograms or more of a mixture of cocaine, 400 grams or more of a mixture of fentanyl, 50 grams or more of methamphetamine, 500 grams or more of a mixture of methamphetamine, and 28 grams or more of crack. Davis, who led the drug trafficking organization’s activity in Philadelphia and Johnstown, was one of the targets of a federal wiretap and was intercepted obtaining quantities of the drugs that he distributed to others. Accompanied by distributors below him, Davis frequently traveled between Philadelphia and Johnstown with drug shipments which were then stored and processed at “stash houses” throughout the Western District of Pennsylvania for distribution. During a meeting with a drug source in California for a resupply, Davis arranged for the drug parcels to be mailed to Johnstown for distribution. In the Philadelphia area, Davis met with drug sources and purchased over 2,000 grams of heroin and fentanyl and over 5,000 grams of cocaine from a source in New Jersey.

    Assistant United States Attorney Maureen Sheehan-Balchon prosecuted this case on behalf of the government.

    Acting United States Attorney Rivetti commended the Federal Bureau of Investigation’s Laurel Highlands Resident Agency and Homeland Security Investigations for the investigation that led to the successful prosecution of Davis. Additional agencies participating in this investigation included the Bureau of Alcohol, Tobacco, Firearms and Explosives, Internal Revenue Service–Criminal Investigation, United States Postal Inspection Service, Pennsylvania Office of Attorney General, Pennsylvania State Police, Cambria County District Attorney’s Office, Indiana County District Attorney’s Office, Cambria County Sheriff’s Office, Cambria Township Police Department, Indiana Borough Police Department, Johnstown Police Department, Upper Yoder Township Police Department, Richland Police Department, Ferndale Police Department, and other local law enforcement agencies.

    This prosecution is part of an Organized Crime Drug Enforcement Task Forces (OCDETF) investigation. OCDETF identifies, disrupts, and dismantles the highest-level drug traffickers, money launderers, gangs, and transnational criminal organizations that threaten the United States by using a prosecutor-led, intelligence-driven, multi-agency approach that leverages the strengths of federal, state, and local law enforcement agencies against criminal networks.

    MIL Security OSI –

  • MIL-OSI USA: OmegaPro founder, promoter charged for running global $650 million foreign exchange and crypto investment scam following ICE New York investigation

    Source: US Immigration and Customs Enforcement

    NEW YORK — An investigation by ICE Homeland Security Investigations New York, alongside several partners, has resulted in an indictment charging two men for their alleged roles in operating and promoting OmegaPro, an international investment scheme that defrauded victim investors of over $650 million.

    According to court documents, Michael Shannon Sims, 48, of Georgia and Florida, was a founder, strategic consultant, and promoter of OmegaPro, and Juan Carlos Reynoso, 57, of New Jersey and Florida, led OmegaPro’s operations in Latin America and parts of the United States, including Puerto Rico.

    “This case highlights the critical role international partnerships play in dismantling transnational financial fraud schemes that exploit global markets and victimize unsuspecting investors,” said ICE HSI International Operations Assistant Director Ricardo Mayoral. “HSI remains committed to working with our partners worldwide to disrupt criminal networks that weaponize emerging technologies to conceal illicit profits and defraud the public.”

    Mayoral; Matthew R. Galeotti, Head of the Justice Department’s Criminal Division; U.S. Attorney W. Stephen Muldrow for the District of Puerto Rico; Assistant Director Joe Perez of the FBI Criminal Investigative Division; and Chief Guy Ficco of the IRS Criminal Investigation announced the charges on July 8.

    HSI New York, the FBI and IRS Criminal Investigation are investigating the case, with assistance from HSI Bangkok; HSI Bogota; HSI Frankfurt; HSI Istanbul; HSI London; HSI Miami; HSI New Delhi; HSI The Hague; the FBI’s Virtual Asset Unit; the Office of the Attorney General of Colombia; and the Joint Chiefs of Global Tax Enforcement, an alliance between the Australian Taxation Office, the Canada Revenue Agency, the Dutch Fiscal Intelligence and Investigation Service, His Majesty’s Revenue and Customs from the U.K., and IRS-CI.

    According to the investigation and as outlined in court documents:

    Sims and co-conspirators established OmegaPro in or about January 2019, and Reynoso joined a few months later, in or about April 2019. As alleged, the defendants and others operated and promoted OmegaPro as a multi-level marketing scheme for investors to purchase “investment packages,” which the defendants and others falsely promised would generate 300% returns over 16 months through foreign exchange trading by elite traders. Investors were instructed to purchase these investment packages using virtual currency.

    Sims allegedly misled victims by vouching for OmegaPro’s trading performance and the skills of the hired traders and by falsely advertising the safety of investment in OmegaPro. Reynoso allegedly falsely and misleadingly represented that OmegaPro was operating pursuant to a legitimate license and, at other times, that OmegaPro was not subject to any country’s legal rules. The indictment alleges that Sims and Reynoso, together with co-conspirators, hosted lavish OmegaPro promotional events and trainings all over the world including, for example, projecting the OmegaPro logo onto the Burj Khalifa, the world’s tallest building, at an event in Dubai. The objective of these promotional events allegedly was to convince existing and prospective investors that OmegaPro was a legitimate enterprise that offered a path to wealth and a luxurious lifestyle.

    Further, Sims, Reynoso, and their co-conspirators used social media to display their expensive vacations and cars, as well as their designer clothes and watches. The indictment alleges that through the defendants’ and others’ misrepresentations, OmegaPro raised over $650 million in virtual currency from thousands of investors. After OmegaPro announced that it had suffered a network hack, Reynoso and others told victims in or about January 2023 that their investments were secure and that OmegaPro was transferring their investments to another platform called Broker Group. Despite these representations, victims were unable to withdraw money from either their OmegaPro accounts or their accounts at Broker Group, resulting in millions in victim losses.

    The more than $650 million in funds raised from victims allegedly was first sent to virtual currency wallet addresses controlled by OmegaPro executives and then allegedly transferred to OmegaPro insiders and high-ranking promoters to disperse the funds and obscure their origins. As alleged, Sims and Reynoso both profited millions from this scheme.

    “As alleged, the defendants preyed upon vulnerable individuals in the U.S. and abroad, defrauding them of over $650 million by making false promises of substantial returns and that their money was safe,” said Galeotti. “The Criminal Division is committed to prosecuting these bad actors and pursuing justice for their many victims. Thanks to the dedicated work of our multiagency and international law enforcement partners, we are leading efforts to combat these complex and insidious digital asset investor scams.”

    “As alleged in the indictment, the defendants operated a global fraud scheme through OmegaPro that deceived investors with false promises of extraordinary returns, only to misappropriate hundreds of millions of victim funds,” said Muldrow. “We remain committed to dismantling international financial schemes that target U.S. victims — including here in Puerto Rico — and to recovering illicit proceeds through criminal prosecution and asset forfeiture.”

    “The FBI will not stand by while the American public is defrauded,” said Perez. “Through coordination with our partners, these individuals will have to defend their actions in a court of law.”

    “This case exposes the ruthless reality of modern financial crime,” said Ficco. “OmegaPro promised financial freedom but delivered financial ruin — stealing over $650 million from everyday people and vanishing it into virtual currency. These weren’t just scams; they were precision-engineered betrayals. Our job is to stand up for those who’ve been exploited and continue our cross-agency collaboration until those responsible are brought to justice.”

    Both defendants are charged with one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering. If convicted, Sims and Reynoso each face a maximum penalty of 20 years in prison on each count.

    MIL OSI USA News –

  • MIL-OSI USA: Governor Ivey Marks the Calendar for Back-to-School Sales Tax Holiday, Encourages Alabama Families to Stock Up on School Supplies

    Source: US State of Alabama

    MONTGOMERY – Governor Kay Ivey on Monday encouraged Alabamians to begin preparing for the upcoming academic year by participating in Alabama’s annual Back-to-School Sales Tax Holiday. The tax-free period will run from Friday, July 18 through Sunday, July 20, 2025.

    “A new school year brings new opportunities, and we want every Alabama student to step into the classroom ready to learn and succeed,” said Governor Ivey. “This tax holiday is one more way we’re supporting our Alabama families and reinforcing the importance of education across our state. When we invest in our students and equip them for success, we’re building a stronger future for all of Alabama.”

    During the Back-to-School Sales Tax Holiday, items like pencils, paper, binders, calculators and rulers are free from state sales tax. The holiday also covers school uniforms, books and computers. For the full list of back-to-school items that qualify for the sales tax holiday, please visit this link.

    “ALDOR is pleased we can offer this tax-free opportunity to parents and caregivers across Alabama who are getting their children ready for the upcoming school year,” said Alabama Department of Revenue Commissioner Vernon Barnett. “Many counties, cities and towns are also participating in the tax-free holiday, so we encourage everyone in Alabama to take advantage, and we wish students all the best this year.”

    Counties and municipalities may also choose to participate in the Back-to-School Sales Tax Holiday by removing local sales and use taxes from the same selected items during the same weekend.

    You can see if your city, town or county is participating in the 2025 Back-to-School Sales Tax Holiday at this link.

    ###

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Estes Applauds Passage Of One Big Beautiful Bill Act, Sends To President’s Desk

    Source: United States House of Representatives – Congressman Ron Estes (R-Kansas)

    WASHINGTON – Today, U.S. Congressman Ron Estes (R-Kansas) released a statement marking the House of Representatives’ passage of the One Big Beautiful Bill Act. The bill now heads to President Trump’s desk for his signature. 

    Prior to the passage of the One Big Beautiful Bill Act, Rep. Estes spoke in favor of the bill on the House floor. Read his remarks and watch here.

    “When Republicans decisively won the House, the Senate, and the White House last November, we promised the American people to extend the 2017 Trump Tax Cuts, secure the border, and restore prosperity,” said Rep. Estes. “With this bill’s passage, President Trump and my colleagues are ensuring Americans will see tax cuts and wage increases for years to come, improving the quality of life for the Kansans I represent.”

    Background:

    July 2025 – Rep. Estes Delivers Remarks On House Floor In Support Of The One Big, Beautiful Bill

    May 2025 – Rep. Estes Votes to Advance One Big, Beautiful Bill

    May 2025 – Rep. Estes Applauds Ways and Means Tax Legislation Vote

    April 2025 – House Passes Budget Resolution in Win for America First Agenda

    February 2025 – Rep. Estes Delivers Remarks on House Floor in Support of Budget Reconciliation Bill

    MIL OSI USA News –

  • MIL-OSI USA: Rep. Estes Talks One Big Beautiful Law with Andy Hooser

    Source: United States House of Representatives – Congressman Ron Estes (R-Kansas)

    U.S. Congressman Ron Estes (R-Kansas) joined the Voice of Reason with Andy Hooser to talk about the passage of the One Big Beautiful Bill Act (OBBBA). President Trump signed the bill into law on July 4, 2025.

    Rep. Estes spoke about provisions within the OBBBA that will improve the lives of Americans through tax cuts, economic growth and the promotion of American innovation. He also spoke about border security funding and the creation of a Golden Dome to strengthen our national security.

    Listen to the interview here. 

    On passing the One Big Beautiful Bill Act:

    “…It was a monumental thing just because of the amount of work that we had to go through. In fact, we started this years ago. We knew after we passed the Tax Cuts and Jobs Act in 2017 that there were provisions that were going to expire. Some of them already have expired and we’ve seen some slowdown in the economy because of that. Others are expiring this year and so we wanted to make sure that we address those provisions and we looked at the future and how do we move forward from here. And so it was a lot of heavy lifting in terms of a lot of work and how do you sort through that process. 

    “I said in a lot of cases, it’s one step at a time. The first step was to get the Republicans elected in the majority in the House and the Senate and President Trump elected in the White House. That was the first thing we had to do to make this happen. It’s just been a series of steps since then.”

    On how the One Big, Beautiful Bill will grow the economy:

    “…We’ve seen over and over again the Congressional Budget Office, or CBO, has missed on scoring. In fact, they scored that the Inflation Act was not going to increase the deficit when as soon as the act was passed by the Democrats, then it showed, well now it’s really going to cost hundreds of billions of dollars more than what was described. We really have to come up with some better guestimates in terms of the decisions we make because we’re making trillion-dollar decisions. We’ve got to do that.

    “When we look at the One Big, Beautiful Bill on paper, in a static world, they’re saying it costs over $3 trillion dollars. But that’s if you say, somebody gets a tax cut or they don’t get a tax increase, because that’s really a lot of cases what it was, that their behavior wouldn’t change.

    “And I would say the argument is that if we raise taxes on people, they don’t have the money to invest. Businesses don’t have the money to invest. Individuals don’t have the money to go out and buy the new car, to go out and do the other decisions that they want to make for their family. 

    “And so when we were going through this on the Budget Committee, we were looking at, you know, even if the economic growth went from roughly 1.8%, 1.9%, where CBO was project it, up by less than 1%, that would raise almost $3 trillion in extra tax revenue over 10 years. Yet that’s not included in some of these numbers that are being reported about what the true cost of that is. 

    “We really wanted to focus on, how do we make good economic growth? How do we put as much as we could permanent, whether it was for small businesses … or whether it’s things like research and development, which Americans have led the innovation across the world for years. And I’ve been a big advocate that when you invest money on research and development or new ideas, that you can deduct that off your taxes in the year that incurs. And that’s one of those provisions that expired three years ago, and we’ve seen a slowdown in research and development spending.

    “In fact, we’ve seen … after 2017, it increased by 18%. And now, it has dropped. And the important thing about that is three-fourths of that money goes to jobs. And then those research and development jobs lead to more manufacturing work in the United States. So for over a longer period of time, it is a jobs program. And we need to make sure that those provisions, and that was a big piece of what we wanted to make sure were permanent in the bill, to help make sure that the economy continued to grow and people had more money in their pocket and paid less in taxes.”

    On Minority Leader Hakeem Jeffries holding up the vote on the One Big Beautiful Bill Act:

    “Here’s what he was trying to advocate for. He was trying to advocate that able-bodied adults without children should be entitled to Medicaid and not have to go look for a job. Americans want to, we’re beneficial people, we’re charitable. We want to give hand ups to people. But we also expect that you should do your own part and have the responsibility.

    “Basically, the Democrat position was, ‘No these people shouldn’t have to go look for a job.’Their argument was that illegal aliens should be entitled to getting free Medicaid. And this bill is going to prohibit that. And this bill is also going to prohibit people who maybe they qualified one year, but their income’s gone up this year because they have gone to work, but states weren’t required to certify that their income is as low as it was. Therefore, they were automatically re-enrolled. 

    “We’re saying, ‘Let’s go make sure that these processes work. Let’s go make sure that the money’s saved on people that shouldn’t be receiving Medicaid so that we have the money available for the disabled and the low income.’” 

    On improving national security at home and abroad:

    “We need to make sure that we clean up the mess that President Biden left the country in. Looking at new things on the defense side. You know, the world’s a dangerous place as we see now with Iran and North Korea and China and even Russia, in some of the things they’re doing. And [we] need to make sure that we have the next generation of technology out there to help with the sport. That we look at the Golden Dome process.”

    “I’ve been amazed going to Israel and seeing the Iron Dome and seeing that work. Seeing the interaction of technology to be able to detect a missile launch and track it and determine where it’s going and determine is it going to land in a field or is it going to land in a populated area? And then, how do you fire a missile to stop it? And to be successful at that and to make that process work. It’s great technology, great interaction there. It’s the type of thought process that we need to have to protect our country going forward.” 

    On the United States investing in a strong military and national defense:

    “One, we’ve seen, ever since the collapse of the Soviet Union, we saw a huge decline in the 1990s, the so-called peace dividend. And that really led into, there was a slight buildup with the fighting Al-Qaeda after 2001. And 9/11 results out of that. But then after that, there started to be a wind down again in terms of that.

    “We’re at an inflection point now and we’ve seen it both in Israel, and we’ve seen it in Ukraine. We’re at a point where some of the old technology or some of the things that may not be the right answers going forward. 

    “For example, we can shoot down a lot of the missiles that are fired at Israel but if you take a million dollar missile to shoot down a $50,000 drone that’s being fired at it, that’s not a smart use of resources. So we’ve got to look at some of those new technologies and things that we do going forward.”

    On the budget reconciliation process:

    Basically the reconciliation process is driven off of the budget process. And you want to prepare a budget each year, each fiscal year. This was off of the 2025 fiscal year budget … We’re now working on the 2026 fiscal year budget, and we’ll also have to work on the 2027 fiscal year before the end of next year.

    “Obviously, there’s a lot of work to do. I mean, we made some great strides in this One Big, Beautiful Bill. One of the things we want to really push on is, let’s get as much done as we could, knowing that we couldn’t get everything done.

    “So we’ve got a lot more to do, and we still have a whole lot of work we have to do to actually address some of the things with the spending at the federal level and making sure we address the budget and making sure, how do we make the United States stronger again.”

    On working towards a balanced budget:

    “We’ve still got a lot of work to do in that regards. I mean, we’re borrowing one out five dollars that the federal government is spending. So, it’s a terrible place to be in. It’s something that … our predecessors should not have gotten into that situation. And, it’s not something that we want to leave to our kids and grandkids. And really, that debt’s mostly being spent on today’s lifestyle. That’s the bad part about it. 

    “It’s not like it’s investing in a whole lot more infrastructure and other things. It’s today’s preferences that [it] is being spent on. So we’ve got to focus on both the discretionary side, which is the smallest piece of the budget, it’s really about 25% of it. And that’s what we’ll look at on the 2026 appropriations. 

    “But then we’ve got some big mandatory spending projects we’ve got to work on now. And those are the ones that are growing the fastest. Part of it’s the Social Security, Medicaid, Medicare, … we put money into Social Security and Medicare, but it’s not enough for what’s being spent out of those programs.

    “The SNAP food stamp program, which got some improvements now, obviously that’s growing. And that’s what, 80% of the Farm Bill? We really should be calling it the Farm and Food Stamp Bill. And so we’ve got a lot of work as we focus on that.

    On drafting the FY2026 budget:

    “Technically for 2026 we’ve already missed the date in terms of what we wanted to do. But with the discussion now that we’ve passed, and part of that was because we focused so much on the One Big, Beautiful Bill. We knew we had to get that done. There are some things we needed to get done in July. There are some things we wanted to get done now instead of waiting until December so that people could start making decisions about, because they know what their tax bill is going to be next year through that process. That’s good. Now let’s go focus on the 2026 budget and how that’s going to drive reconciliation. At the parallel process, which we’re working on appropriations for the discretionary pieces, and we can attack them both directions in terms of the problems that we’re trying to face.”

    MIL OSI USA News –

  • MIL-OSI Banking: Republic of Estonia: 2025 Article IV Consultation-Press Release; and Staff Report

    Source: International Monetary Fund

    Summary

    The Estonian economy is slowly re-emerging from a prolonged downturn but faces structural challenges. Wages growing faster than productivity and permanent increases in input costs, a legacy of previous shocks, are hindering price-sensitive activities, while production with higher technological content is constrained by lack of skilled labor and limited access to capital markets. Geopolitical developments, rising defense spending needs, and preexisting fiscal imbalances pose significant hurdles.

    Subject: Defense spending, Expenditure, External debt, Fiscal policy, Fiscal stance, Income, Inflation, National accounts, Personal income tax, Prices, Public debt, Revenue administration, Taxes

    Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Defense spending, Fiscal stance, Income, Inflation, Personal income tax

    MIL OSI Global Banks –

  • MIL-OSI United Kingdom: Empty Homes Team gets into full swing to bring much-needed properties back into use

    Source: City of Manchester

    A new Council team dedicated to bringing empty homes across Manchester back into use has achieved almost 300 successes in its first few months.

    Since autumn last year, the Empty Homes Team has brought 276 long-term empty properties back into use. The majority have been sold or rented on the private market, but a small number have been sold to registered providers for use as social housing or rented out by the council to accommodate people facing homelessness. Almost £500,000 per year in Council Tax has also been added to the city’s coffers to help fund public services.

    More than 400 further live cases are currently being worked on with more being identified all the time and these will be followed up with sites visits all over the city.

    The dedicated Empty Homes Team was set up as part of the city’s response to the housing challenge, action which also includes overseeing the building of 10,000 social, council and genuinely affordable homes by 2032.

    As well as creating these much-needed new homes, the Council is working to maximise the city’s housing stock by addressing the wasted resource of existing homes sitting empty. These long-term empty properties – which have been unoccupied for six months or more – can also blight their neighbourhoods, becoming eyesores or attracting litter, pests or anti-social behaviour.

    While the high demand for properties across Manchester means that long-term empty properties are at historically low levels, it is still estimated that there are around 1,465 long-term empty properties dotted around the city.

    Previous initiatives to tackle long-term empty homes have focused on regenerating whole areas which had clusters of ‘void’ properties. But now the Empty Homes Team is taking a targeted approach to tackling unoccupied homes dotted around the city.

    Many of these long-term empty properties are tough nuts to crack. A high proportion have been left empty because the owner of the property has died and it is not known who should inherit it. Others are properties which require major structural work or refurbishment, which the owner cannot afford, before they can go on the market.

    These long-term empty properties dotted around the city are identified through council tax data, tip-offs from neighbourhood teams and councillors, and referrals from local residents. Owners can even self-refer if they are struggling to know what to do with their properties.

    The Empty Homes Team then engages with property owners to establish why the property is empty and explore options with them to bring it back into use. They also conduct site visits to assess the condition of properties and the extent to which they are causing a detriment to the area.

    Where ownership details are not clear, the team employs four established genealogist firms to identify property owners, in a process which will be familiar to viewers of BBC One’s Heir Hunters programme.

    The team’s work is detailed in a report to the Council’s Economy and Regeneration Scrutiny Committee which meets on 22 July, along with a draft Empty Homes Strategy.

    Cllr Gavin White, Executive Member for Housing and Regeneration, said: “Getting empty properties back into use is a multiple win for the city. It helps provides much-needed housing for people who want it, removes blights on neighbourhoods and also generates Council Tax which supports vital council services.

    “We’re doing a great deal of work to bring forward new council, social and other types of affordable homes which this is complementing.

    “I’m pleased to see that the Empty Homes Team has got off to a cracking start, already bringing hundreds of homes back into use and setting their sights on many more. We would encourage anyone who is concerned about an empty home in their area, or even owners who find themselves stuck with a property they don’t know what to do with, to get in touch.”

    Deputy Council Leader Cllr Joanna Midgley said: “Tackling homelessness is a complex challenge and making the most of our existing housing stock is one of the ways in which we are trying to prevent it.

    “The Empty Homes Team has made excellent progress in the last few months and we look forward to this momentum being maintained.

    “We would encourage anyone who is concerned about an empty home in their area, and even owners who find themselves stuck with a property they don’t know what to do with, to get in touch.”

    Long-term empty properties can be referred to the Empty Homes Team via the council’s website at www.manchester.gov.uk (search Empty Homes) or by emailing emptyhomesteam@manchester.gov.uk

    MIL OSI United Kingdom –

  • MIL-OSI: OTC Markets Group Welcomes Singapore Exchange Ltd. to OTCQX

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 14, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Singapore Exchange Ltd. (SGX: S68; OTCQX: SPXCY, SPXCF), Asia’s most international multi-asset exchange operating equity, fixed income, currency and commodity markets, has qualified to trade on the OTCQX® Best Market.

    Singapore Exchange Ltd. begins trading today on OTCQX under the symbols “SPXCY, SPXCF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

    Singapore Exchange Ltd.’s move to the OTCQX Market underscores the importance of providing transparent and accessible trading for U.S. investors. International companies and exchanges trading on OTCQX meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

    “We are excited to welcome Singapore Exchange Ltd. to the growing roster of international exchanges trading on the OTCQX Market,” said Jason Paltrowitz, OTC Markets EVP of Corporate Services. “This demonstrates our shared commitment to helping Asia-based companies leverage their home market listing to gain access to the U.S. through expanded cross-trading opportunities.”

    “As SGX expands its footprint in the U.S., with a rising share of our derivatives products traded during U.S. and European hours, we’ve seen growing interest from U.S.-based investors,” said Daniel Koh, Chief Financial Officer of Singapore Exchange (SGX Group). “Trading SGX shares on the OTCQX Market will further enhance our visibility and make it easier for U.S. investors to participate in our growth story. As a leading international multi-asset exchange headquartered in AAA-rated Singapore, we will continue to enhance liquidity across our pan-Asian products to meet the increasing global demand for Asian exposure.”

    About Singapore Exchange Ltd. (SGX Group)
    SGX Group seeks to serve as the world’s most trusted and efficient international marketplace, operating equity, fixed income, currency and commodity markets to the highest regulatory standards. As one ecosystem with global relevance and influence, we offer multiple growth avenues to our stakeholders through listing, trading, clearing, settlement, depository, data and index services. We are committed to lead on climate action by developing a world-class transition financing and trading hub through SGX FIRST (Future in Reshaping Sustainability Together), our multi-asset sustainability platform. Headquartered in AAA-rated Singapore, we are globally recognised for our risk-management and clearing capabilities. Find out more at www.sgxgroup.com.

    About OTC Markets Group Inc.
    OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our public markets: OTCQX® Best Market, OTCQB® Venture Market, OTCID™ Basic Market and Pink Limited™ Market. Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

    OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATS™ are each SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC. To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

    Subscribe to the OTC Markets RSS Feed

    Media Contact:
    OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

    The MIL Network –

  • MIL-OSI: OTC Markets Group Welcomes Singapore Exchange Ltd. to OTCQX

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 14, 2025 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Singapore Exchange Ltd. (SGX: S68; OTCQX: SPXCY, SPXCF), Asia’s most international multi-asset exchange operating equity, fixed income, currency and commodity markets, has qualified to trade on the OTCQX® Best Market.

    Singapore Exchange Ltd. begins trading today on OTCQX under the symbols “SPXCY, SPXCF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

    Singapore Exchange Ltd.’s move to the OTCQX Market underscores the importance of providing transparent and accessible trading for U.S. investors. International companies and exchanges trading on OTCQX meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.

    “We are excited to welcome Singapore Exchange Ltd. to the growing roster of international exchanges trading on the OTCQX Market,” said Jason Paltrowitz, OTC Markets EVP of Corporate Services. “This demonstrates our shared commitment to helping Asia-based companies leverage their home market listing to gain access to the U.S. through expanded cross-trading opportunities.”

    “As SGX expands its footprint in the U.S., with a rising share of our derivatives products traded during U.S. and European hours, we’ve seen growing interest from U.S.-based investors,” said Daniel Koh, Chief Financial Officer of Singapore Exchange (SGX Group). “Trading SGX shares on the OTCQX Market will further enhance our visibility and make it easier for U.S. investors to participate in our growth story. As a leading international multi-asset exchange headquartered in AAA-rated Singapore, we will continue to enhance liquidity across our pan-Asian products to meet the increasing global demand for Asian exposure.”

    About Singapore Exchange Ltd. (SGX Group)
    SGX Group seeks to serve as the world’s most trusted and efficient international marketplace, operating equity, fixed income, currency and commodity markets to the highest regulatory standards. As one ecosystem with global relevance and influence, we offer multiple growth avenues to our stakeholders through listing, trading, clearing, settlement, depository, data and index services. We are committed to lead on climate action by developing a world-class transition financing and trading hub through SGX FIRST (Future in Reshaping Sustainability Together), our multi-asset sustainability platform. Headquartered in AAA-rated Singapore, we are globally recognised for our risk-management and clearing capabilities. Find out more at www.sgxgroup.com.

    About OTC Markets Group Inc.
    OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our public markets: OTCQX® Best Market, OTCQB® Venture Market, OTCID™ Basic Market and Pink Limited™ Market. Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

    OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATS™ are each SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC. To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

    Subscribe to the OTC Markets RSS Feed

    Media Contact:
    OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

    The MIL Network –

  • MIL-OSI USA: Secretary Noem Protects American Taxpayers Against Wasteful Contracts While Revolutionizing Coast Guard for the 21st Century

    Source: US Federal Emergency Management Agency

    Headline: Secretary Noem Protects American Taxpayers Against Wasteful Contracts While Revolutionizing Coast Guard for the 21st Century

    lass=”text-align-center”>“This Administration is unwavering in its commitment to the American taxpayer”
    WASHINGTON – Today, United States Department of Homeland Security Secretary Kristi Noem announced the partial termination of a wasteful shipbuilding contract to protect American taxpayer dollars while revolutionizing the United States Coast Guard for the 21st century

    “This Administration is unwavering in its commitment to the American taxpayer and to a strong, ready Coast Guard,” said a Senior Homeland Security official

    “We cannot allow critical shipbuilding projects to languish over budget and behind schedule

    Our Coast Guard needs modern, capable vessels to safeguard our national and economic security, and we will ensure every dollar is spent wisely to achieve that mission

    This action redirects resources to where they are most needed, ensuring the Coast Guard remains the finest, most-capable maritime service in the world

    ”
    As part of that commitment, the Coast Guard is reviewing contracts which are failing to meet delivery agreements

    An existing Offshore Patrol Cutter (OPC) contract with Eastern Shipbuilding Group (ESG) has been slow to deliver four OPCs, harming the U

    S

    ’s defense capabilities and wasting American’s hard-earned money

    In light of that, Secretary Noem partially canceled ESG’s contract for two out of the four OPCs expected from ESG in Panama City, Florida because it was not an effective use of taxpayer money

    ESG’s delivery of OPC 1 was initially due in June 2023 but will now be completed by the end of 2026 at the earliest

    ESG missed its April 2024 delivery for OPC 2

    The Coast Guard stopped work on OPCs 3 and 4 after ESG notified the service earlier this year they could not fulfill their contractual duty to deliver all four OPCs without unabsorbable loss

    The money saved will redirected to ensure it’s actually benefiting the Coast Guard

    Due to decades of neglect by previous Administrations and Congress, the Coast Guard has been underfunded, underequipped, and ignored for too long

    President Donald Trump is ending that era of neglect with the passage of the One Big Beautiful Bill and Force Design 2028 – Homeland’s plan to transform the Coast Guard into a more agile, capable fighting force

    Now, a massive injection of nearly $25 billion is coming to the Coast Guard

    The Coast Guard’s goal is to procure 25 OPCs — and that has not changed

    The Coast Guard remains intent on acquiring and delivering the full OPC class as fast as possible to address the Nation’s security and safety needs

    The OPC fleet will complement the capabilities of the Service’s National Security Cutters, Fast Response Cutters and Polar Security Cutters as an essential element of the Nation’s layered maritime security strategy

    They will be especially critical to the counter-drug and migrant interdiction missions along the southeast border

    MIL OSI USA News –

  • MIL-OSI USA: Díaz-Balart: President Trump’s One Big Beautiful Bill Will Boost Economic Growth and Reduce Taxes for American Families

    Source: United States House of Representatives – Congressman Mario Diaz-Balart (25th District of FLORIDA)

    WASHINGTON, D.C. – House Appropriations Vice Chairman Mario Díaz-Balart (FL-26) issued the following statement after the U.S. House of Representatives passed the historic H.R. 1, President Trump’s “One Big Beautiful Bill”:

     “I am proud to have voted with my House Republican colleagues to send President Trump’s America First bill, the “One Big Beautiful Bill,” to his desk to be signed into law. This signature domestic policy legislation will deliver on President Trump’s Peace Through Strength agenda and restore American deterrence, secure historic savings, lead to higher economic growth, unleash domestic energy, secure the border, and avoid the largest tax hikes to American families and small businesses in U.S. history.”

    This legislation directly benefits taxpayers in Florida’s 26thCongressional District by making President Trump’s successful 2017 Tax Cuts and Jobs Act (TCJA) permanent. Without the TCJA, the average taxpayer in Florida’s 26thDistrict would have seen a 24% tax hike by the end of 2025. It protects 21,000 manufacturing jobs and 75,220 small businesses from these tax hikes, while supporting job creation, higher wages, and innovation. This bill will continue further investments into Opportunity Zones created under the TCJA that bolster our communities, bringing new and increased economic investment into traditionally underserved areas through the OBBB. In Miami-Dade County alone, 67 Opportunity Zones have flourished under this direct investment and across FL-26 in Hialeah, Hialeah Gardens, and Miami Springs. 

    Additionally, this legislation will stop the flow of deadly fentanyl and other illegal narcotics from entering our communities by making direct investments to secure our border. It will also reverse the Biden Administration’s burdensome energy policies, unleashing American energy dominance and independence. This bill supports pro-family initiatives by increasing the Child Tax Credit by $500 up to $2200. It provides greater support for paid leave and childcare by quadrupling the maximum Employer-Provided Childcare Credit and adds additional relief for small businesses providing childcare, all while simultaneously strengthening the Paid Family and Medical Leave Credit from the 2017 TCJA. The bill enhances the adoption tax credit, taking into consideration the toll Bidenflation placed on families wishing to adopt and making it more usable for American families. Our seniors will receive historic relief, with a $6,000 deduction, a deduction that will exceed the taxable Social Security income of any senior who receives the current average retirement benefit. 

    This historic tax relief not only guarantees deductions but ensures that taxpayers, especially working families, can keep more of their hard-earned money. Thank you for your attention to this matter!” 

    ###

     

     

    For additional information on how the One Big Beautiful Bill will benefit American families, see below:

     

    • Delivers on President Trump’s promises for No Tax on Tips, No Tax on Overtime, Additional Tax Relief for Seniors, and No Tax on Car Loan Interest.
    • Carries out President Trump’s visionary Peace Through Strength mission.
      • $150B investment in our national security will restore American deterrence and build the ready, capable, and lethal fighting force President Trump promised.
      • Jump-starts the Golden Dome initiative by investing $25 billion
      • Grows the U.S. Navy for the first time in years, investing $29 billion to revitalize shipbuilding in our nation.
      • Improves quality of life for our troops with $9 billion in funding to increase allowances and special pays, and to upgrade aging, moldy barracks.
    • Makes President Trump’s 2017 pro-family tax cuts PERMANENT.
      • The lower tax rates stop a $1,700 tax increase on American families.
      • Prevents a scheduled $15,000 cut in the Standard Deduction for families.
      • The doubled Child Tax Credit (CTC) stops a $1,000 per child reduction in the CTC.
      •  In fact, the One Big Beautiful Bill Act supports American families recovering from Bidenflation by increasing the CTC by $500 and indexes the CTC amount for inflation moving forward.
    • Increases access to the Adoption Tax Credit.
      • Makes the credit more usable for all families, opening up more homes to the joys of adoption and championing the sanctity of life.
    • Builds on the Trump Tax Cuts’ incentives for Paid Leave and Childcare.
      • Strengthens the Paid Family and Medical Leave Credit from the Trump Tax Cuts.
      • Quadruples the maximum Employer-Provided Childcare Credit and adds additional relief for small businesses providing childcare.
    • Lowers the cost of health care.
      • Expands Health Savings Accounts for Americans to take control of their health care.
      • Codifies Trump Individual Coverage Health Reimbursement Arrangements, increasing coverage options for 350,000 individuals.
    • Tax relief for seniors.
      • Middle- and low-income seniors will be able to deduct an additional $6,000.
    • Secures Our Border with $175 billion to:
      • Hire and train 3,000 new Border Patrol agents
      • Hire and train 5,000 new Customs Officers
      • Allow for the completion of 701 miles of primary wall and the construction of 900 miles of river barriers.
      • $6B to help CBP interdict more fentanyl, deploy more border surveillance technology, and more.
    • Securing Our Skies with $12.5 billion for Air Traffic Control modernization.

    MIL OSI USA News –

  • MIL-OSI: Bitcoin Joins Forces with AI Mining: PFMCrypto Launches Hassle-Free XRP Cloud Mining with Daily Payouts

    Source: GlobeNewswire (MIL-OSI)

    New York, NY, July 14, 2025 (GLOBE NEWSWIRE) — As Bitcoin’s ecosystem gains global momentum, PFMCrypto is proud to introduce a major leap in accessible crypto mining: the launch of BTC-focused cloud mining contracts. Now available on both web and mobile platforms, these flexible short-term contracts allow users to mine BTC remotely and receive daily BTC rewards—no mining hardware, no complex setup, and no prior experience required. For the first time, retail participants can engage with the Bitcoin economy through a streamlined, fully integrated platform.
    Explore the PFMCrypto website or download the app today.

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

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

    Mining Contracts for Every Budget and Strategy:
    PFMCrypto offers a broad range of mining contracts that support BTC-based deposits and withdrawals. Each contract is crafted for flexibility, predictable income, and effective risk management:
    $10 Contract – 1 Day – Earn $0.66 (Free with signup bonus)
    $100 Contract – 2 Days – Earn $3.00 daily + $2 reward
    $500 Contract – 5 Days – Earn $6.15 daily
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    The MIL Network –

  • MIL-Evening Report: Treasury warns the government it may not balance the budget or meet its housing targets

    Source: The Conversation (Au and NZ) – By John Hawkins, Head, Canberra School of Government, University of Canberra

    Kokkai Ng/Getty

    In the runup to each election, federal treasury produces a “blue book” and a “red book”, with advice tailored to the priorities of the two alternative governments.

    One of these is given to the incoming government and the other is never released. Freedom of Information requests have generally resulted in only heavily redacted versions of the incoming government brief being made public.

    But this week, the table of contents was accidentally released, revealing treasury’s view of how the government should be handling the economy.

    Taxes “need to be raised”

    Treasury suggests more tax should be raised. This is unsurprising – there is bipartisan support for more defence spending, and an ageing population means more spending on health and aged care, only partially offset by less spending on education.



    Read more:
    The 2025 budget has few savings and surprises but it also ignores climate change

    The government is hoping to slow spending on the National Disability Insurance Scheme but it is still projected to grow much faster than government revenue.

    No one wants to default on government debt. So higher bond yields and the deficits incurred during the COVID pandemic, and projected for the next decade, mean governments will be paying more interest.

    There are few areas of government spending expected to contract. So the cruel arithmetic is unless we are happy to keep government debt – already close to a trillion dollars – growing indefinitely, taxes need to rise.

    The challenge is to find the most efficient way to do so. We don’t know whether Treasury made specific suggestions.

    As we will probably hear at next month’s Economic Reform Roundtable, most economists think we should be putting more tax on things we want to discourage (greenhouse gas emissions, consumption of unhealthy products) and less on things we want to encourage (working, saving).

    We want more taxes that do not alter economic activity (such as on land and excess profits from minerals) and less that discourage useful economic activities (such as stamp duties, which discourage mobility). We also want less tax where activity is being driven into black markets (arguably the case with cigarettes).

    There may be some areas where tax concessions are excessive. Superannuation tax concessions are subsidising some rich people to build much larger savings than are needed for a comfortable retirement. (A proposal from the government to trim these will be before the Senate when parliament resumes next week.)

    Capital gains tax concessions, which mainly help the rich, are also hard to justify.

    We also want to consider equity. Most people accept that a tax system should be progressive. This means the rich pay a higher proportion of income in taxes than do the poor. In our current tax system, income and land taxes are progressive but GST and some other excises are regressive. The overall system is roughly proportional.

    Housing target “will not be met”

    Treasury also warned the government that its pledge to build 1.2 million homes over five years will be very difficult to achieve. In the year to June 2024, just 176,000 homes were built.

    Even the relevant ministers have described the target as “ambitious”. Treasurer Jim Chalmers said on Monday “we will need more effort”.

    Treasury has cast doubt on the government’s plans to build 1.2 million new homes over five years. So far only 176,000 have been built.
    Inga Blessas/Shutterstock

    Many commentators have described how difficult it will be to achieve this target.

    A shortage of construction workers, the impact of planning restrictions, and weak productivity are also concerns. A recent study by the Productivity Commission concluded:

    over the past 30 years, the number of dwellings completed per hour worked by housing construction workers has declined by 53%.

    Concerns about the US

    Another unsurprising revelation in the briefing is Treasury is concerned about the economic consequences of Donald Trump as US president.

    One threat comes from the ever-changing array of tariffs Trump is introducing. If other countries retaliate by raising their own tariffs, the adverse impact on the global economy will be even greater.



    Read more:
    What would a second Trump presidency mean for the global economy?

    We can get some idea of the possible impact on Australia from modelling published by the Reserve Bank. In its Statement on Monetary Policy, the bank presented two alternative scenarios.

    Under what it called the “trade war” scenario, global gross domestic product declines by more than it did during the 2007 global financial crisis. Australian unemployment increases to nearly 6%. Under the “trade peace” scenario, unemployment remains around its current 4% level.

    Another concern held by Treasury was the possible loss of independence of the US Federal Reserve Board (or “Fed”), the counterpart to Australia’s Reserve Bank. Trump has vowed to replace Fed chair Jerome Powell with someone more compliant when Powell’s term ends next year.

    Trump wants the Fed to slash short-term interest rates regardless of the economic circumstances. This would raise the risk of a surge in inflation. It could also lead to higher bond yields, which would flow into higher interest rates charged by banks on loans. This could plunge the US economy into recession, with impacts felt around the world.

    John Hawkins was formerly a senior economist in the Australian Treasury.

    – ref. Treasury warns the government it may not balance the budget or meet its housing targets – https://theconversation.com/treasury-warns-the-government-it-may-not-balance-the-budget-or-meet-its-housing-targets-261084

    MIL OSI Analysis – EveningReport.nz –

  • MIL-Evening Report: Confusing for doctors, inequitable for patients: why Australia’s medicinal cannabis system needs urgent reform

    Source: The Conversation (Au and NZ) – By Christine Mary Hallinan, Senior Research Fellow, Department of General Practice and Primary Care, Faculty of Medicine, Dentistry and Health Sciences, The University of Melbourne

    Vanessa Nunes/Getty Images

    In 2024 alone, Australia’s medicines regulator, the Therapeutic Goods Administration (TGA), authorised at least 979,000 prescription applications for medicinal cannabis through its specialised access pathways.

    These “specialised access” mechanisms were originally designed for occasional, case-by-case use of unapproved drugs. But they have become mainstream.

    As more and more people receive medicinal cannabis prescriptions, we’re left with a system that is misaligned with its original purpose.

    The current prescribing landscape for medicinal cannabis is confusing for doctors, inequitable for patients, and difficult to regulate.

    The Australian Health Practitioner Regulation Agency (Ahpra) recently announced it’s going to crack down on unsafe prescribing. But this doesn’t go far enough. The system needs urgent reform.

    What is medicinal cannabis used for?

    Medicinal cannabis was legalised in Australia in 2016. Products come in different forms including oils, liquids, capsules, gels (which can be applied to the skin), dried flower (which can be inhaled using a vapouriser) and gummies.

    Key ingredients include THC (tetrahydrocannabinol) and CBD (cannabidiol). THC is the main psychoactive compound in cannabis, and is responsible if a “high” is experienced.

    When it was first legalised, medicinal cannabis was intended for patients with complex needs and severe, treatment-resistant conditions.

    The TGA clearly indicated medicinal cannabis should not be considered a first-line treatment for any condition, and should be administered with a “start low, go slow” dosage approach.

    Patients for whom it might be deemed appropriate included those receiving palliative care, or suffering with intractable epilepsy, multiple sclerosis, nausea and vomiting from chemotherapy, or chronic pain unresponsive to standard care.

    But over time, prescribing has expanded well beyond these cases. Today, most medicinal cannabis prescriptions are given for relatively common conditions such as chronic pain, anxiety and sleep disorders.

    What does the evidence say?

    The evidence remains inconsistent. Chronic pain – the most common reason medicinal cannabis is prescribed in Australia – offers a key example.

    According to a recent TGA review, some randomised trials suggest medicinal cannabis may help a subset of patients achieve moderate reductions in pain. However, many studies are small, of variable quality, and don’t account for long-term effects.

    And like all medicines, medicinal cannabis carries risks. Products containing THC have been linked to side-effects such as sedation, dizziness and cognitive impairment.

    While generally better tolerated, CBD is not risk-free. For example, both CBD and THC can interact with certain medications, heightening the likelihood of adverse effects.

    Access over evidence

    In Australia, approved medicines undergo rigorous clinical testing before they’re registered. Drug manufacturers’ applications to the TGA normally include detailed data on efficacy as well as long-term safety monitoring and quality controls.

    But driven by patient advocacy, political responsiveness, and commercial momentum, medicinal cannabis has come to reflect a different model.

    Most medicinal cannabis products – bar two which have TGA approval – lack the evidence demonstrating safety, quality and efficacy required of registered pharmaceuticals.

    In other words, the majority are not subject to the rigorous trials or data standards required for formal registration with the TGA’s Australian Register of Therapeutic Goods.

    For many doctors, whose prescribing has traditionally been guided by strong trial data and rigorous regulatory review, this doesn’t sit well.

    Doctors are often flying blind

    While companies can legally sell cannabis products via access schemes without investing in clinical research, doctors are expected to prescribe without consistent information on what works, for whom, and at what dose.

    The TGA oversees access pathways but is neither resourced nor mandated to provide clinical oversight or direct support to prescribers, leaving many clinicians to navigate the system alone.

    Prescriptions are frequently granted via telehealth and posted to patients.

    Growing concerns have emerged that some care models – particularly high-volume telehealth services – are prioritising patient throughput over clinical judgment, and not spending enough time with patients.

    For example, Ahpra reported eight practitioners issued more than 10,000 medicinal cannabis scripts in a six-month period, while one appeared to have issued in excess of 17,000.

    The surge in prescribing has been further shaped by active marketing from some cannabis companies, outpacing the development of coordinated clinical guidance and safety monitoring infrastructure.

    Many people who get a script for medicinal cannabis do so via telehealth.
    Geber86/Shutterstock

    Access and affordability: a system failing patients

    Some people, including those living in rural and remote areas, can find it difficult to navigate medicinal cannabis prescribing processes. This can be due to limited digital access and fewer opportunities for follow-up with a local GP. These challenges make it harder for people to make informed decisions about their care.

    Cost is also a major issue, particularly where bulk billing is unavailable or multiple consultations are needed. This is on top of the cost of the products.

    One of the two TGA-approved medicinal cannabis products, Sativex, used to treat muscle stiffness in multiple sclerosis, is not currently subsidised by the Pharmaceutical Benefits Scheme. This means patients pay the full cost, which ranges between A$700 and $800 for a 6–8 week supply.



    Read more:
    We looked at 54 medicinal cannabis websites to see if they followed the rules. Here’s what we found

    What needs to change?

    Australia’s medicinal cannabis system is based on a fragmented evidence base and a fast-growing market operating with limited visibility into how products are used or evaluated. Addressing these challenges will require coordinated reform across multiple fronts.

    1. Capture real-world data

    Most urgently, we need robust, real-world data. To deliver safe and equitable care, we must know how medicinal cannabis is being prescribed, for what conditions, under what circumstances, and with what outcomes.

    Without this, we cannot answer the most basic questions about clinical benefits or track adverse events.

    Real-world data, such as de-identified health information from clinics, could help inform better clinical and policy decisions.

    2. Build a national accreditation model

    Australia needs a national prescriber accreditation model for medicinal cannabis, developed in collaboration with clinicians, regulators and professional bodies.

    Such a model would help ensure prescribing is clinically appropriate, evidence-informed, and consistent with evolving standards of care. In practice, this would mean health professionals would need to complete specific training before prescribing medicinal cannabis.

    This approach is not without precedent. For example, some health professionals must undergo immuniser accreditation before they can administer vaccines independently.

    3. Tackle inequity

    Finally, we must confront persistent access inequities. That includes exploring government subsidies for TGA-approved medicinal cannabis products. No one should have to choose between financial hardship and safe access.

    Dr Christine Hallinan, Senior Reseach Fellow, conducted research on the pharmacovigilance of medicinal cannabis at the University of Melbourne as part of the Pharmacovigilance theme within the Australian Centre for Cannabinoid Clinical and Research Excellence (ACRE), which was funded by the National Health and Medical Research Council (NHMRC) through the Centre of Research Excellence (CRE) scheme. She served as an Associate Investigator on ACRE from 2017 to 2023. Christine Hallinan is also a member of an Expert Roundtable on medicinal cannabis, chaired by Ian Freckelton AO KC and facilitated by Montu. The Roundtable brings together experts from medicine, law, research, and policy to contribute recommendations for a more evidence-based and fit-for-purpose regulatory framework. These roles are disclosed in the interest of transparency and do not influence the content or conclusions of this work.

    – ref. Confusing for doctors, inequitable for patients: why Australia’s medicinal cannabis system needs urgent reform – https://theconversation.com/confusing-for-doctors-inequitable-for-patients-why-australias-medicinal-cannabis-system-needs-urgent-reform-257249

    MIL OSI Analysis – EveningReport.nz –