NewzIntel.com

Category: Taxation

  • MIL-OSI USA: Lawler Praises Major SALT Victory in One Big Beautiful Bill, Securing $40,000 Cap, 1% Growth on a $500,000 Annual Income

    Source: US Congressman Mike Lawler (R, NY-17)

    Pearl River, N.Y. – 6/28/25… Today, Congressman Mike Lawler issued a statement regarding key Senate provisions of H.R. 1, the One Big Beautiful Bill Act, confirming that the House-negotiated $40,000 cap on State and Local Tax (SALT) deductions will remain in the final bill text. The House passed H.R. 1 on May 22.

    On this latest update, Congressman Lawler said:

     “After months of working closely with my SALT Caucus colleagues, we’ve secured an agreement to raise the SALT cap to $40,000 for five years with a $500,000 income cap and 1% growth, maintaining the House-passed language. This is meaningful relief for middle-class families in the Hudson Valley who have been hit hard by the current $10,000 cap.

    In addition to securing SALT relief, we were able to ensure pass-through entities are able to deduct their state and local taxes as well, a big win for small businesses across the country.

    I want to thank President Trump, Speaker Johnson, and Treasury Secretary Bessent for working with us to make SALT relief a priority. As I have been from the moment I entered Congress, I’m committed to fighting to ensure we deliver real tax relief to the hardworking families of New York.”

    Congressman Lawler is one of the most bipartisan members of Congress and represents New York’s 17th Congressional District, which is just north of New York City and contains all or parts of Rockland, Putnam, Dutchess, and Westchester Counties. He was rated the most effective freshman lawmaker in the 118th Congress, 8th overall, surpassing dozens of committee chairs. 

    ###

    MIL OSI USA News –

  • MIL-OSI: CETY Announces Continued Eligibility for Federal Clean Energy Incentives Under New Law, Solidifying Leadership in Advanced Green Technologies

    Source: GlobeNewswire (MIL-OSI)

    IRVINE, CA., July 08, 2025 (GLOBE NEWSWIRE) — Clean Energy Technologies, Inc. (Nasdaq: CETY) (the “Company” or “CETY”), a clean energy technology company offering power generation, waste to energy, battery storage, and heat to power solutions to deliver affordable, scalable, and eco-friendly energy, clean fuels, and alternative electricity for a sustainable future, is pleased to announce that its technologies should remain fully eligible for federal clean energy tax incentives following the passage of the One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025.

    Under the new legislation, projects utilizing CETY’s waste heat-to-power, biomass combined heat and power (CHP), and battery storage technologies should continue to qualify for the most Investment Tax Credits (ITC) and Production Tax Credits (PTC) established by the Inflation Reduction Act—up to 30% ITC or 1.5 cents per kilowatt-hour PTC—provided they meet updated requirements for zero greenhouse gas emissions, prevailing wage and apprenticeship standards.

    “This legislation reinforces our competitive edge, said Kam Mahdi, CEO of CETY. “Unlike solar, wind, EV, or hydrogen projects, many of which face new limitations, our technologies remain fully supported. This positions CETY as a premier opportunity for shareholders seeking exposure to resilient, profitable clean energy solutions.”

    The OBBBA retains incentives for technologies like CETY’s when:

    Projects began construction by December 31, 2024, qualifying them under existing IRA-era credits.

    New projects meet stricter requirements under Section 45Y (Clean Electricity Production Credit) and Section 48E (Clean Electricity Investment Credit), including:

    Demonstrated zero or net-negative lifecycle greenhouse gas emissions

    Compliance with prevailing wage and apprenticeship guidelines

    Use of U.S.-sourced components to satisfy domestic content rules

    No participation by prohibited foreign entities of concern

    The updated tax credits will gradually phase down starting in 2033 and sunset by the end of 2035, creating a limited window for investors and developers to capitalize on these incentives.

    “As the energy landscape shifts, our waste heat recovery, biomass CHP, power generation, and battery storage solutions are essential for industrial and commercial facilities aiming to cut emissions and operating costs,” Kam Mahdi added. “Whether it’s converting agricultural or forestry waste into clean energy through biomass systems, capturing waste heat from industrial processes to generate power, tapping geothermal resources for sustainable electricity, or providing reliable power and storage for high-demand applications like data centers and crypto mining operations, CETY stands ready to deliver cutting-edge technologies that meet—and exceed—the federal government’s latest standards. CETY also anticipates curing Nasadq price deficiency by Novenmber 3rd , 2025.”

    About Clean Energy Technologies, Inc. (CETY)

    Headquartered in Irvine, California, Clean Energy Technologies, Inc. (CETY) is a rising leader in the zero-emission revolution by offering eco-friendly green energy solutions, clean energy fuels and alternative electric power for small and mid-sized projects in North America, Europe, and Asia. We deliver power from heat and biomass with zero emission and low cost. Our principal products are Waste Heat Recovery Solutions using our patented Clean CycleTM generator to create electricity. Waste to Energy Solutions convert waste products created in manufacturing, agriculture, wastewater treatment plants and other industries to electricity and BioChar. Engineering, Consulting and Project Management Solutions provide expertise and experience in developing clean energy projects for municipal and industrial customers and Engineering, Procurement and Construction (EPC) companies.

    CETY’s common stock is currently traded on the Nasdaq Capital Market under the symbol “CETY.” For more information, visit www.cetyinc.com.

    Follow CETY on our social media channels: Twitter | LinkedIn | Facebook

    This summary should be read in conjunction with our annual report on Form 10-K for the year ending December 31, 2024, and our other periodic filings made with the Securities and Exchange Commission, which contain, among other matters, risk factors and financial footnotes as well as a discussions of our business, operations and financial matters, which filings can be located on the website of the Securities and Exchange Commission at www.sec.gov.

    Safe Harbor Statement

    This news release may include forward-looking statements within the meaning of section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities and Exchange Act of 1934, as amended, with respect to achieving corporate objectives, developing additional project interests, the Company’s analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the “Safe Harbor” provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company’s current beliefs, expectations and assumptions regarding the future of CETY’s business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company’s control. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by words such as: “anticipate,” “plan,” “expect,” “estimate,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Any forward-looking statement made by the Company in this press release is based only on information currently available to us and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

    Clean Energy Technologies, Inc.

    Investor and Investment Media inquiries:

    949-273-4990

    ir@cetyinc.com

    Source: Clean Energy Technologies, Inc.

    The MIL Network –

  • MIL-OSI Security: Denver Man Charged with 27 Counts in Connection with CARES Act Fraud

    Source: US FBI

    DENVER – An indictment was unsealed on Wednesday in Denver charging Steve Randall Howe with twenty counts of bank fraud and seven counts of money laundering in connection with a scheme to defraud the United States Small Business Administration (SBA).

    According to the indictment, between April 2020 and January 2022, Howe obtained more than $1.2 million in Paycheck Protection Program (PPP) loans on behalf of six businesses he owned.  To obtain the loans, Howe submitted false information and fabricated documents to lenders to make it appear that those companies were eligible for PPP loans when they were not.  Howe then used the loan money for ineligible expenses, like purchases of residential properties, retail purchases, travel expenses, and transfers of money to China.  The indictment alleges that Howe then applied for, and received, forgiveness on each loan, never making a single payment on them.

    The Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted in March 2020 and was designed to provide emergency financial assistance to Americans dealing with the economic impact of the COVID-19 pandemic.  The CARES Act created the PPP, a program administered by the SBA that provided loans to small businesses to retain workers, maintain payroll, and pay for certain other expenses consistent with PPP rules.  Small businesses could subsequently request forgiveness of the loan after certifying the loan was used to pay for eligible costs.    

    The defendant made his initial appearance on July 2, 2025, in Denver in front of United States Magistrate Judge N. Reid Neureiter.

    The charges contained in the indictment are allegations, and the defendant is presumed innocent unless and until proven guilty.

    This case is being investigated by the Federal Bureau of Investigation and the Internal Revenue Service Criminal Investigation.  The case is being prosecuted by Assistant United States Attorneys Taylor Glogiewicz and Craig Fansler.

    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

    Case Number:                    25-cr-00197-NYW             

    MIL Security OSI –

  • MIL-OSI Security: Denver Man Charged with 27 Counts in Connection with CARES Act Fraud

    Source: US FBI

    DENVER – An indictment was unsealed on Wednesday in Denver charging Steve Randall Howe with twenty counts of bank fraud and seven counts of money laundering in connection with a scheme to defraud the United States Small Business Administration (SBA).

    According to the indictment, between April 2020 and January 2022, Howe obtained more than $1.2 million in Paycheck Protection Program (PPP) loans on behalf of six businesses he owned.  To obtain the loans, Howe submitted false information and fabricated documents to lenders to make it appear that those companies were eligible for PPP loans when they were not.  Howe then used the loan money for ineligible expenses, like purchases of residential properties, retail purchases, travel expenses, and transfers of money to China.  The indictment alleges that Howe then applied for, and received, forgiveness on each loan, never making a single payment on them.

    The Coronavirus Aid, Relief, and Economic Security (CARES) Act was enacted in March 2020 and was designed to provide emergency financial assistance to Americans dealing with the economic impact of the COVID-19 pandemic.  The CARES Act created the PPP, a program administered by the SBA that provided loans to small businesses to retain workers, maintain payroll, and pay for certain other expenses consistent with PPP rules.  Small businesses could subsequently request forgiveness of the loan after certifying the loan was used to pay for eligible costs.    

    The defendant made his initial appearance on July 2, 2025, in Denver in front of United States Magistrate Judge N. Reid Neureiter.

    The charges contained in the indictment are allegations, and the defendant is presumed innocent unless and until proven guilty.

    This case is being investigated by the Federal Bureau of Investigation and the Internal Revenue Service Criminal Investigation.  The case is being prosecuted by Assistant United States Attorneys Taylor Glogiewicz and Craig Fansler.

    Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud (NCDF) Hotline at 866-720-5721 or via the NCDF Web Complaint Form at: https://www.justice.gov/disaster-fraud/ncdf-disaster-complaint-form.

    Case Number:                    25-cr-00197-NYW             

    MIL Security OSI –

  • MIL-OSI Security: Six Defendants Indicted in Federal Investigation Targeting Fentanyl, Heroin, and Cocaine Sales in Chicago

    Source: US FBI

    CHICAGO — A federal investigation into fentanyl, heroin, and cocaine sales in Chicago has resulted in a grand jury returning multiple drug and/or firearm charges against six individuals.

    A superseding indictment returned in U.S. District Court in Chicago accuses the six defendants of conspiring to distribute the drugs in Chicago in 2024.  Two of the defendants are charged with firearm offenses for illegally possessing semiautomatic handguns as previously convicted felons.

    Charged with drug conspiracy are ANDRE DEBRUCE, 40, of Schiller Park, Ill., TERRANCE PATTON, 40, of Chicago, CRAIG CALDWELL, 43, of Chicago, TIMOTHY BELIN, 48, of Chicago, JENNIFER WORD, 39, of Chicago, and DENOMOIUS WELLS, 41, of Chicago.  Patton and Caldwell are the previously convicted felons charged with illegal firearm possession.  Caldwell also faces an additional gun charge for allegedly possessing a firearm in furtherance of drug trafficking.

    The charges against Caldwell carry a maximum sentence of life in federal prison, with a mandatory minimum of five years. Patton and Debruce face maximum sentences of 40 years, with a mandatory minimum of five years.  Belin, Word, and Wells each face up to 20 years, with no mandatory minimum.

    Wells pleaded not guilty to the charges during his arraignment on Tuesday before U.S. Magistrate Judge M. David Weisman.  The five other defendants have also been arraigned and also pleaded not guilty to the charges.

    The superseding indictment was announced by Andrew S. Boutros, United States Attorney for the Northern District of Illinois, and Douglas S. DePodesta, Special Agent-in-Charge of the Chicago Field Office of the FBI.  Substantial assistance was provided by IRS Criminal Investigation in Chicago, the Chicago Police Department, and the Evanston, Ill. Police Department.  The government is represented by Assistant U.S. Attorneys Hayley Altabef and Adam Rosenbloom.

    The superseding indictment in this case is part of Operation Take Back America, a nationwide initiative that marshals the full resources of the Department of Justice to protect our communities from the perpetrators of violent crime, among other areas of focus. Operation Take Back America streamlines efforts and resources from the Department’s Organized Crime Drug Enforcement Task Forces (OCDETFs) and Project Safe Neighborhood (PSN).

    The public is reminded that an indictment contains only charges and is not evidence of guilt. The defendants are presumed innocent and entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt.

    MIL Security OSI –

  • MIL-OSI Africa: East African Community (EAC) and Intergovernmental Authority on Development (IGAD) Unite to Break Barriers in Cross-Border Digital Payments

    Source: APO – Report:

    .

    The East African Community (EAC) and the Intergovernmental Authority on Development (IGAD) have taken a significant step towards regional financial integration, with the convening of a five-day workshop on payment systems interoperability. The IGAD-EAC-World Bank Joint Workshop, convened from 30th June to 4th July, 2025 in Addis Ababa, Ethiopia, brought together Central Banks, digital finance experts, and senior policymakers from nine countries with a focus on advancing harmonised legal, regulatory, and supervisory frameworks that will enable faster, safer, and more inclusive cross-border payments across the Eastern Africa region

    The workshop was organised under the Eastern Africa Regional Digital Integration Project (EARDIP), a flagship initiative jointly implemented by IGAD and EAC, with support from the World Bank. The EARDIP’s mission is to boost regional digital market integration by expanding broadband infrastructure and strengthening the environment for cross-border digital services, including digital payments, a critical enabler of trade, remittances, and financial inclusion.

    At the heart the Addis Ababa discussions was a shared regional challenge of fragmented and non-interoperable payment systems that undermine economic potential. While countries like Kenya, Tanzania, and Ethiopia have made strides in domestic interoperability, regional integration remains stifled by gaps in regulations, technical disparities, and cybersecurity concerns. Against this backdrop, the workshop provided a platform for technical learning, peer-to-peer exchange, and collective visioning.

    In his opening remarks, Dr. Mohyeldeen Eltohami, Director of Economic Cooperation and Regional Integration, IGAD, emphasised that the workshop was not merely a technical convening but a launchpad for transformation. “The collaboration between EAC and IGAD exemplifies the spirit of regional solidarity and shared ambition that Africa needs to build the future it envisions, a future of seamless digital integration, inclusive prosperity, and economic transformation,” he said.

    The Director urged participants to seize the opportunity to build a harmonised regional framework and to let cooperation, not fragmentation, define the region’s digital future.

    “Digital transformation is no longer a choice but a necessity. Together, IGAD and EAC can build a digitally integrated Eastern Africa, where borders no longer limit opportunity, and where innovation drives inclusion, and prosperity is shared,” said Dr. Eltohami.

    Echoing these sentiments, Eng. Daniel Murenzi, Principal Information Technology Officer, EAC Secretariat stressed that digital payments are the backbone of a functioning digital market and that interoperability was no longer a luxury, but a necessity for regional prosperity.

    “EAC and IGAD are implementing the EARDIP Project with the objective to advance digital regional integration by strengthening cross-border digital infrastructure, services, policies, and frameworks that promote economic growth, inclusion, and regional collaboration among EAC and IGAD Member/Partner States,” noted Eng. Murenzi.

    “Payment systems are an enabler in this digital ecosystem for the region, with their interoperability a critical factor. We therefore need to review national payment processes, harmonise legal and regulatory instruments and facilitate interoperability of the regions payment system,” he noted.

    On his part, Mr. Gynedi Srinivas, Senior Financial Sector Specialist, Payment Systems Development Group, World Bank outlined the global relevance of the workshop, noting that its objectives align with the Group of Twenty (G20) roadmap for faster, cheaper, and safer cross-border payments. He applauded the region’s readiness to harness the benefits of fast payment system (FPS) interoperability.

    “The benefits of cross-border interoperability of fast payment systems will especially enable safer, faster and low-cost retail payments across borders helping end-users, individuals and Medium, Small and Micro Enterprises (MSMEs) to make and receive payments seamlessly,” he noted.

    Participants of the workshop engaged in discussions on three strategic areas: digital infrastructure, legal and regulatory frameworks, and regional payment integration. Recommendations from these sessions included the need to invest in shared digital infrastructure, adopt consumer-centric design for FPS, develop regulatory sandboxes to support innovation, and the need to harmonise legal instruments to unlock true cross-border operability.

    During the workshop, experts from some Member/Partner States Central/National Banks shared experiences and lessons from their national contexts, thereby providing practical blueprints for other countries aiming to leapfrog barriers and accelerate digital finance inclusion.

    Participants also explored emerging technologies, including AI, blockchain, and cross-border Central bank digital currencies, alongside discussions on cyber threats and the role of cybersecurity incident response teams (CIRSTs) in protecting payment ecosystems. The need for a unified cybersecurity legal framework and real-time threat intelligence sharing across borders emerged as a top priority.

    The workshop further recommended facilitating peer-to-peer attachments among central banks; anchoring FPS design in user needs; collectively addressing social engineering risks, particularly in mobile payments; and convening annual joint workshops on cross-border payments.

    The workshop brought together experts from nine IGAD-EAC Member/Partner States’ National Payment System directorates or departments from the Bank of the Republic of Burundi, the Central Bank of Djibouti, the National Bank of Ethiopia, the Central Bank of Kenya, the National Bank of Rwanda, the Central Bank of Somalia, the Bank of South Sudan, the Bank of Tanzania and the Bank of Uganda. The Central Bank of the Democratic Republic of Congo was represented by the Ministry of Regional Integration of the Democratic Republic of Congo.  Also in attendance were IGAD and EAC EARDIP Coordinators and key staff as well as World Bank Consultants and a representative from Banco d ’Italia (Bank of Italy).  

    – on behalf of East African Community (EAC).

    MIL OSI Africa –

  • MIL-OSI Submissions: Tax season in South Africa: the system is designed to tackle inequality – how it falls short

    Source: The Conversation – Africa – By Nadine Riedel, Director of the Institute for Public and Regional Economics, University of Münster

    South Africa’s personal income tax system is in the spotlight as the country’s tax filing season gets under way. Personal income tax is an important way of redistributing income from higher-earning to less-well-off individuals.

    But how effectively does it do this and what can get in the way?

    At the heart of any redistributive tax system is its structure: which incomes are taxed or exempted, which expenses are tax deductible, how the tax rate schedule is designed, and which tax credits are granted, including how much they reduce the tax owed. The schedule translates taxable income into the taxpayers’ tax liability by defining tax rates by tax brackets. The top tax rate is 45%.

    In a recent study we explore how features such as tax rates, deductions, credits, and bracket adjustments shape the redistributive capacity of South Africa’s personal income tax system. For this research, we analyse all the income tax returns of South African taxpayers provided by South Africa’s Revenue Service for the tax years 2015 and 2018. (All records were made anonymous.)

    The country´s personal income tax operates under a progressive tax scheme: People pay higher rates of tax as their income rises. Those with lower incomes may owe no income tax at all, while top earners can face marginal rates as high as 45%.

    Based on our analysis, this progressive rate schedule is the most effective mechanism for redistributing income from higher- to lower-income earners. By contrast, “tax expenditures” – that is, expenses, which taxpayers can deduct from what they owe in tax – lower the redistributive impact of the personal income tax system.

    Put differently: Allowing taxpayers to claim tax deductions and tax credits reduces the extent to which personal income taxation effectively lowers gaps between the after-tax income of high- and low-income earners.

    A number of recent tax policy reforms further dampened the redistributive capacity of the system. The spotlight is on potential policy reforms that may counter this.

    Weaknesses

    Our research shows that the benefits from tax expenditures in the country’s personal income tax system lower its ability to narrow income gaps. South African taxpayers can deduct various expenses from the personal income tax base and their tax liability respectively, including expenses for donations, home offices, certain insurance contributions and public offices.

    Many of these benefits are claimed by a relatively small number of taxpayers (often below 1% of the taxpayer population or under 100,000 taxpayers) and are concentrated among top earners. And average deduction amounts can be high.

    Even more widely used deductions and credits, such as those for pensions and medical schemes, are disproportionately claimed by higher-income individuals.

    We also found that recent reforms have weakened the redistributive capacity of the personal income tax system.

    Over the years, adjustments have been made, some intended to improve equity, others driven by the need to bolster revenues. A closer look at three key reforms offers some insight into the impact they have had on the distributive goal of the country’s tax system.

    In 2016, pension-related deductions were redesigned to be more generous and to harmonise the treatment of different pension funds. The goal of the reform was to create a fairer and more coherent pension deduction system. While the number of taxpayers claiming pension deductions increased after the reform, our research found that that the policy change still disproportionately benefited higher-income earners. This is because they are more likely to make pension contributions – and do so in larger amounts.

    As a result, the policy reduced the overall redistributive impact of the personal income tax system. In other words, it lowered the extent to which personal income taxation reduces income gaps between higher and lower income taxpayers.

    The following year, the government introduced a new top tax bracket which raised the marginal tax rate on incomes above R1.5 million (today roughly R1.8 million or US$100,700) from 41% to 45%. That is, if you earn more than R1.5 million, you pay 45% of this income in tax.

    The stated aim of the reform was to strengthen the progressivity of the personal income tax system. But our analysis suggests that the real-world impact was limited. This is because the pre-tax incomes of high earners grew more slowly than those of lower-income individuals after the reform. This may reflect that high income earners responded to the reform by lowering their taxable income. They could do so by tax avoidance – high income earners may, for example, shift income to the (potentially lower-taxed) future by compensation through stock options or higher retirement contributions. Or it could be through real adjustments, like earlier retirement entry or less job effort (and, in consequence, lower earnings).

    Between 2015 and 2018, inflation pushed wages and prices upward, but tax thresholds did not keep pace. This led to many taxpayers being shifted into higher tax brackets despite no real change in their purchasing power (referred to as bracket creep). This raised effective tax rates, but also had a regressive side-effect: lower- and middle-income earners were disproportionately affected, weakening the personal income tax system’s ability to reduce income inequality.

    For example, because of bracket creep, a significant fraction of low-income taxpayers – around 3% – became liable for tax. Without bracket creep they would have stayed below the tax exemption threshold.

    Reforms to the tax system

    South Africa’s progressive personal income tax structure has played an important redistributive role. Nevertheless, its effectiveness has been weakened by tax expenditures, bracket creep, and uneven reform outcomes.

    Targeted policy adjustments can strengthen its redistributive capacity.

    Deductions and tax credits: Most of these are regressive, with benefits concentrated among higher-income earners. Phasing out some could strengthen redistribution. But not without trade-offs. After all, deductions and credits also recognise unavoidable expenses, such as work-related or medical costs, and encourage behaviour like charitable giving or retirement saving.

    Yet their appropriateness remains widely debated and their use differs across countries.

    Beyond fairness, tax expenditures come with other downsides, too. For example, they can complicate tax enforcement and open the door to misreporting, particularly where qualifying expenses are hard to verify.

    Policymakers might also consider shifting from deductions to tax credits.
    While deductions reduce the taxable income of an individual, tax credits directly reduce the tax owed. Individuals in higher tax brackets gain a relatively higher advantage from deductions, as their tax rate is higher. Contrarily, one rand of tax credit provides the same relief to all taxpayers with a positive tax liability.

    Making credits refundable, though potentially costly, could further boost their redistributive effect.

    Standardised deductions could help as well, by allowing fixed rand amounts for certain expenses without requiring proof of payment, and offering relief to lower-income taxpayers who often forgo claims due to lack of resources or knowledge.

    Finally, addressing bracket creep by automatically indexing tax brackets to inflation could preserve the progressivity of the personal income tax system over time, shielding lower- and middle-income taxpayers from a quiet rise in tax burdens.

    Prof. Dr. Nadine Riedel receives funding from UNU WIDER.

    This research is part of the so-called SATIED program. In the context of the program, I act as an academic work stream lead and receive compensation through UNU WIDER (which is the University of the UN) for this role.

    Ida Zinke does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    – ref. Tax season in South Africa: the system is designed to tackle inequality – how it falls short – https://theconversation.com/tax-season-in-south-africa-the-system-is-designed-to-tackle-inequality-how-it-falls-short-260351

    MIL OSI –

  • MIL-OSI Africa: Tax season in South Africa: the system is designed to tackle inequality – how it falls short

    Source: The Conversation – Africa – By Nadine Riedel, Director of the Institute for Public and Regional Economics, University of Münster

    South Africa’s personal income tax system is in the spotlight as the country’s tax filing season gets under way. Personal income tax is an important way of redistributing income from higher-earning to less-well-off individuals.

    But how effectively does it do this and what can get in the way?

    At the heart of any redistributive tax system is its structure: which incomes are taxed or exempted, which expenses are tax deductible, how the tax rate schedule is designed, and which tax credits are granted, including how much they reduce the tax owed. The schedule translates taxable income into the taxpayers’ tax liability by defining tax rates by tax brackets. The top tax rate is 45%.

    In a recent study we explore how features such as tax rates, deductions, credits, and bracket adjustments shape the redistributive capacity of South Africa’s personal income tax system. For this research, we analyse all the income tax returns of South African taxpayers provided by South Africa’s Revenue Service for the tax years 2015 and 2018. (All records were made anonymous.)

    The country´s personal income tax operates under a progressive tax scheme: People pay higher rates of tax as their income rises. Those with lower incomes may owe no income tax at all, while top earners can face marginal rates as high as 45%.

    Based on our analysis, this progressive rate schedule is the most effective mechanism for redistributing income from higher- to lower-income earners. By contrast, “tax expenditures” – that is, expenses, which taxpayers can deduct from what they owe in tax – lower the redistributive impact of the personal income tax system.

    Put differently: Allowing taxpayers to claim tax deductions and tax credits reduces the extent to which personal income taxation effectively lowers gaps between the after-tax income of high- and low-income earners.

    A number of recent tax policy reforms further dampened the redistributive capacity of the system. The spotlight is on potential policy reforms that may counter this.

    Weaknesses

    Our research shows that the benefits from tax expenditures in the country’s personal income tax system lower its ability to narrow income gaps. South African taxpayers can deduct various expenses from the personal income tax base and their tax liability respectively, including expenses for donations, home offices, certain insurance contributions and public offices.

    Many of these benefits are claimed by a relatively small number of taxpayers (often below 1% of the taxpayer population or under 100,000 taxpayers) and are concentrated among top earners. And average deduction amounts can be high.

    Even more widely used deductions and credits, such as those for pensions and medical schemes, are disproportionately claimed by higher-income individuals.

    We also found that recent reforms have weakened the redistributive capacity of the personal income tax system.

    Over the years, adjustments have been made, some intended to improve equity, others driven by the need to bolster revenues. A closer look at three key reforms offers some insight into the impact they have had on the distributive goal of the country’s tax system.

    In 2016, pension-related deductions were redesigned to be more generous and to harmonise the treatment of different pension funds. The goal of the reform was to create a fairer and more coherent pension deduction system. While the number of taxpayers claiming pension deductions increased after the reform, our research found that that the policy change still disproportionately benefited higher-income earners. This is because they are more likely to make pension contributions – and do so in larger amounts.

    As a result, the policy reduced the overall redistributive impact of the personal income tax system. In other words, it lowered the extent to which personal income taxation reduces income gaps between higher and lower income taxpayers.

    The following year, the government introduced a new top tax bracket which raised the marginal tax rate on incomes above R1.5 million (today roughly R1.8 million or US$100,700) from 41% to 45%. That is, if you earn more than R1.5 million, you pay 45% of this income in tax.

    The stated aim of the reform was to strengthen the progressivity of the personal income tax system. But our analysis suggests that the real-world impact was limited. This is because the pre-tax incomes of high earners grew more slowly than those of lower-income individuals after the reform. This may reflect that high income earners responded to the reform by lowering their taxable income. They could do so by tax avoidance – high income earners may, for example, shift income to the (potentially lower-taxed) future by compensation through stock options or higher retirement contributions. Or it could be through real adjustments, like earlier retirement entry or less job effort (and, in consequence, lower earnings).

    Between 2015 and 2018, inflation pushed wages and prices upward, but tax thresholds did not keep pace. This led to many taxpayers being shifted into higher tax brackets despite no real change in their purchasing power (referred to as bracket creep). This raised effective tax rates, but also had a regressive side-effect: lower- and middle-income earners were disproportionately affected, weakening the personal income tax system’s ability to reduce income inequality.

    For example, because of bracket creep, a significant fraction of low-income taxpayers – around 3% – became liable for tax. Without bracket creep they would have stayed below the tax exemption threshold.

    Reforms to the tax system

    South Africa’s progressive personal income tax structure has played an important redistributive role. Nevertheless, its effectiveness has been weakened by tax expenditures, bracket creep, and uneven reform outcomes.

    Targeted policy adjustments can strengthen its redistributive capacity.

    Deductions and tax credits: Most of these are regressive, with benefits concentrated among higher-income earners. Phasing out some could strengthen redistribution. But not without trade-offs. After all, deductions and credits also recognise unavoidable expenses, such as work-related or medical costs, and encourage behaviour like charitable giving or retirement saving.

    Yet their appropriateness remains widely debated and their use differs across countries.

    Beyond fairness, tax expenditures come with other downsides, too. For example, they can complicate tax enforcement and open the door to misreporting, particularly where qualifying expenses are hard to verify.

    Policymakers might also consider shifting from deductions to tax credits. While deductions reduce the taxable income of an individual, tax credits directly reduce the tax owed. Individuals in higher tax brackets gain a relatively higher advantage from deductions, as their tax rate is higher. Contrarily, one rand of tax credit provides the same relief to all taxpayers with a positive tax liability.

    Making credits refundable, though potentially costly, could further boost their redistributive effect.

    Standardised deductions could help as well, by allowing fixed rand amounts for certain expenses without requiring proof of payment, and offering relief to lower-income taxpayers who often forgo claims due to lack of resources or knowledge.

    Finally, addressing bracket creep by automatically indexing tax brackets to inflation could preserve the progressivity of the personal income tax system over time, shielding lower- and middle-income taxpayers from a quiet rise in tax burdens.

    – Tax season in South Africa: the system is designed to tackle inequality – how it falls short
    – https://theconversation.com/tax-season-in-south-africa-the-system-is-designed-to-tackle-inequality-how-it-falls-short-260351

    MIL OSI Africa –

  • MIL-OSI: Xsolis’ AI-Driven Solution, New Features Evaluated in KLAS Second Look Report

    Source: GlobeNewswire (MIL-OSI)

    FRANKLIN, Tenn., July 08, 2025 (GLOBE NEWSWIRE) — Xsolis, an AI-driven technology company that reduces administrative waste by enabling collaboration between healthcare providers and payers, was featured today in the KLAS Second Look Report, “Xsolis Platform 2025: Improving Utilization Management, Length of Stay & Denial Performance Through AI-Driven Offerings in the Mid-Revenue Cycle.” The KLAS Second Look Report focuses on how the customer experience has changed over the past four years, including as a result of enhancements made available within Dragonfly, the next generation of the company’s AI-driven platform.

    KLAS is an independent research organization that helps healthcare providers make informed technology decisions by offering accurate, honest, and impartial vendor performance information. KLAS interviewed Xsolis clients in early 2025 for a second look, and reports the following anonymized key findings:

    • Respondents report satisfaction within the Key Performance Indicators:
      • Supports integration goals
      • Product has needed functionality (delivers solutions as expected)
      • Executive involvement
      • Likely to recommend
    • 89% of KLAS-surveyed customers report using Xsolis’ AI technology to minimize preventable denials
    • 91% of respondents say they are Satisfied or Highly Satisfied with Overall Performance
    • 88% of respondents say they saw outcomes Immediately, Within 6 Months, or Within 6-12 Months
    • 78% engage in payer-provider communications through the Dragonfly platform
    • Respondents who have been on Xsolis’ AI-driven platform for more than one year report excitement about new updates and functionalities that are being offered as a result of Dragonfly
    • Respondents report the top reasons they selected the Xsolis platform as: advanced AI technology, excellent customer service, seamless EHR integration, and positive references
    • Respondents say the Xsolis platform has reduced the length of patient stays, saved on costs, and improved observation rates and denials rates

    “What has changed with our most recent KLAS survey effort is our expanded footprint and the problems Xsolis solves, including optimizing length-of-stay and increasing payer-provider collaboration, which have been critical in bringing relief to our clients,” said Joan Butters, CEO and co-founder of Xsolis. “As we enhance our solutions to deliver frictionless healthcare in meaningful, new ways for our clients, it is both validating and informative to learn their feedback as we continue to meet their evolving needs.”

    A Kaiser Family Foundation survey from 2023 revealed claims denials are up, with nearly one in five adults experiencing health insurance claim denials in the previous year. Adjudicating denials costs just under $20 billion a year, and around half of denials are ultimately overturned — a costly problem that can be improved with tools that accelerate payer-provider alignment. Late 2024 marked an inflection point for payer-provider friction and how it affects the patient experience, accelerating the need for transparency and reform.

    Xsolis was featured in a KLAS Top 20 Emerging Solutions Report and as one of the top five solutions for reducing the cost of care in 2022 and was listed in 2025 as No. 1 Best in KLAS for Physician Advisory Services for the fourth year. A payer client’s and provider client’s use of Xsolis’ shared platform was recognized in a 2023 KLAS Points of Light Case Study, which highlights successful payer-provider initiatives that lead to an improved patient experience.

    As a pioneer in the practical, effective application of AI in healthcare, Xsolis has been helping its clients make more informed medical necessity decisions during utilization reviews since 2013. Dragonfly represents the next generation of the company’s AI-driven platform and was launched in late 2024. The platform is powered by Predictive AI models, offers new Generative AI tools, and can be augmented with advanced analytic packages such as Navigate to reduce length of stay or Revenue Integrity Insights. Xsolis also offers Denials Management Services and Physician Advisory Services. To date, Xsolis’ solutions are used in more than 500 hospitals nationwide, with two-thirds having shared AI platform access with their networked health plans.

    To learn more about Xsolis, please visit: www.xsolis.com

    Download the KLAS Second Look Report here: https://www.xsolis.com/2025-klas-second-look-report/

    KLAS subscribers can access the report here: https://klasresearch.com/report/xsolis-platform-2025-improving-utilization-management-length-of-stay-and-denial-performance-through-ai-driven-offerings-in-the-mid-revenue-cycle/3746

    About Xsolis
    Xsolis is an AI-driven technology company that reduces administrative waste by enabling collaboration between healthcare providers and payers. Dragonfly®, its AI-driven proprietary platform, is the first and only solution to use real-time predictive analytics to continuously assign an objective medical necessity score and assess the anticipated level of care for every patient, enabling more efficiency across the healthcare system. Xsolis is headquartered in Franklin, Tennessee. For more information, visit www.xsolis.com.

    About KLAS
    KLAS is a research and insights firm on a global mission to improve healthcare. Working with thousands of healthcare professionals and clinicians, KLAS gathers data and insights on software and services to deliver timely reports and performance data that represent provider and payer voices and act as catalysts for improving vendor performance. The KLAS research team publishes reports covering the most pressing questions facing healthcare technology today, including emerging technology insights, that provide early insights on the future of healthcare technology solutions. KLAS also fosters measurement and collaboration between healthcare providers and payers and best practice adoption. Learn more at klasresearch.com.

    The MIL Network –

  • MIL-OSI: Bitcoin Acquisitions Booming as Companies Tap into Coinbase Credit Facilities Opportunity

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., July 08, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Several institutional clients have recently utilized Coinbase’s credit facilities to strategically acquire Bitcoin, underscoring growing corporate confidence in digital assets as part of long-term treasury management and diversification strategies. According to recent reports in macrotrends and other industry sources, Coinbase Global revenue for the quarter ending March 31, 2025 was $2.034B, a 24.23% increase year-over-year and Coinbase’s total revenue for the twelve months ending March 31, 2025, was $6.961 billion, showing a 75.18% increase year-over-year.  Coinbase uses credit facilities to extend loans to other companies, including Bitcoin mining firms, utilizing Bitcoin as collateral. For example, Hut 8 recently secured a $130 million Bitcoin-backed credit facility from Coinbase, which they intend to use to fund growth opportunities. Similarly, Riot Platforms entered into a $100 million credit facility with Coinbase. This strategy allows companies like Hut 8 and Riot Platforms to access capital without selling their Bitcoin holdings.  Overall, Coinbase’s strategic use of credit facilities to finance external acquisitions of Bitcoin-related businesses, coupled with their own strategic Bitcoin acquisitions and strong market performance in Q1 2025, positions them to capitalize on the growing crypto market. However, it is important to note that the market for Bitcoin and cryptocurrencies, in general, is subject to volatility and regulatory uncertainties. Coinbase’s strategic decisions reflect a balance between pursuing growth opportunities and maintaining financial stability in this dynamic environment.   Active companies in news today include: KULR Technology Group, Inc. (NYSE American: KULR), Coinbase Global, Inc. (NASDAQ: COIN), Hut 8 Corp. (NASDAQ: HUT), Riot Platforms, Inc. (NASDAQ: RIOT), Robinhood Markets, Inc. (NASDAQ: HOOD).

    Through Coinbase’s tailored lending solutions, companies can access secure, short-term credit lines to fund timely Bitcoin purchases without needing to liquidate other assets or disrupt existing capital structures. This development reflects the broader institutional adoption of digital assets and highlights the role Coinbase plays in enabling secure and compliant access to the crypto economy. While some individual company names remain confidential at this time, Coinbase confirmed that clients span industries such as fintech, digital infrastructure, and alternative investment management and include the likes of Hut8 and Riot Platforms. These firms are leveraging the platform’s lending solutions alongside Coinbase Prime’s execution and custody services for a seamless experience. Coinbase’s institutional-grade offerings continue to attract a wide range of corporate treasuries and asset managers seeking robust security, liquidity, and integrated services in one trusted platform. The credit facility product complements Coinbase’s broader mission to increase economic freedom and redefine how businesses interact with financial infrastructure.

    KULR Technology Group, Inc. (NYSE American: KULR) Group Announces $20 Million Credit Facility with Coinbase – KULR Technology Group, Inc. (the “Company” or “KULR”) ($KULR), a Bitcoin First Company and global leader in sustainable energy management, announced today that it has secured a $20 million credit facility with Coinbase Credit, Inc., a subsidiary of Coinbase Global, Inc. (NASDAQ: COIN).

    The agreement establishes a multi-draw loan facility initially totaling up to $20 million, which will be available to KULR upon execution of the credit facility (“Effective Date”). The Company intends to use the net proceeds to fund its strategic Bitcoin accumulation goals.

    “This marks KULR’s first bitcoin-backed credit facility, giving us access to non-dilutive capital at a competitive financing rate,” said Michael Mo, CEO of KULR. “It reflects our commitment to diversifying our funding sources as we continue to execute on long-term growth strategies to drive shareholder value.”

    In 2024, KULR selected Coinbase’s Prime platform to provide custody, USDC, and self-custodial wallet services for its Bitcoin holdings. At present, eight of the ten largest publicly traded companies with bitcoin on their balance sheets utilize Coinbase Prime for similar services.

    Amounts borrowed under the credit facility will be secured by a portion of the Company’s total bitcoin holdings. CONTINUED…   Read this entire press release and more news for KULR at: https://www.financialnewsmedia.com/news-kulr/

    In other developments in the markets of note:

    Coinbase Global, Inc. (NASDAQ: COIN) recently announced it is acquiring Liquifi, the leading token management platform for early-stage teams building onchain. Acquiring Liquifi gives us best-in-class capabilities in token cap table management, vesting, and compliance, and positions Coinbase to support builders earlier in their journey. This strategic move propels us in our journey to deliver a truly integrated one-stop-shop experience for businesses building onchain.

    Today, we’re taking a big step towards offering an end-to-end solution for onchain builders by acquiring Liquifi, the go-to platform for managing token ownership, vesting schedules, and compliance workflows. Teams like Uniswap Foundation, OP Labs (Optimism), Ethena, Zora, and 0x already rely on Liquifi to launch and manage their tokens, and we’re excited to help scale these operations even further.

    Hut 8 Corp. (NASDAQ: HUT) recently announced that its subsidiary has entered into a Third Amended and Restated Credit Agreement with Coinbase Credit, Inc. (“Coinbase”) to amend and expand its Bitcoin-backed credit facility from $65 million to up to $130 million and extend the maturity date to July 16, 2026.   The amended facility reflects significant improvements in both economic and structural terms, including:

    Up to $65 million in incremental, non-dilutive capital that positions Hut 8 to deploy capital against near-term opportunities advancing through its growth pipeline; Conversion from a floating-rate structure to a fixed interest rate of 9.0% designed to improve Hut 8’s overall cost of capital as it scales, compared to a stated interest rate ranging from 10.5% to 11.5% between the quarter ended December 31, 2023 and the quarter ended March 31, 2025; and Collateral and borrower protections including an improved limited recourse structure and continued application of a no-rehypothecation covenant on pledged Bitcoin.

    Riot Platforms, Inc. (NASDAQ: RIOT) recently announced the hiring of Jonathan Gibbs as Chief Data Center Officer (“CDCO”) to lead the development of Riot’s data center platform. In this role, Jonathan will lead the strategic development and operations of this new platform, which will focus on building and operating state-of-the-art data centers specifically tailored to serve hyperscale and enterprise tenants.

    The creation of this new data center platform furthers Riot’s strategy to maximize the value of its assets by expanding into the development of non-bitcoin-related data centers, which diversifies the Company’s revenues, enhances Riot’s ability to generate long-term cash returns for investors and strengthens its capabilities to contract with the world’s leading technology companies. This additional platform will build on the success of Riot’s vertically-integrated strategy of utilizing bitcoin mining at scale to create significant value across its land and power portfolio and positions the Company to capitalize on the upsurge in demand for digital infrastructure driven by the growing need for cloud computing, AI and other compute-intensive applications.

    Robinhood Markets, Inc. (NASDAQ: HOOD) recently reported select monthly operating data for May 2025. Funded Customers at the end of May were 25.9 million (up about 5 thousand from April 2025, up 1.8 million year-over-year). In May, Funded Customers grew by approximately 5 thousand after the impact of required escheatment of approximately 100 thousand low-balance accounts.

    Total Platform Assets at the end of May were $255 billion (up 10% from April 2025, up 89% year-over-year). Net Deposits were $3.5 billion in May, or a 18% annualized growth rate relative to April 2025 Total Platform Assets. Over the last twelve months, Net Deposits were $59.1 billion, or an annual growth rate of 44% relative to May 2024 Total Platform Assets.

    Equity Notional Trading Volumes were $180.5 billion (up 14% from April 2025, up 108% year-over-year). Options Contracts Traded were 179.8 million (up 7% from April 2025, up 36% year-over-year). Crypto Notional Trading Volumes were $11.7 billion (up 36% from April 2025, up 65% year-over-year).   Margin balances at the end of May were $9.0 billion (up 7% from the end of April 2025, up 100% year-over-year).   Total Cash Sweep balances at the end of May were $30.8 billion (up 7% from the end of April 2025, up 52% year-over-year).   Total Securities Lending Revenue in May was $33 million (up 32% from April 2025, up 43% year-over-year).

    About FN Media Group:

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

    Follow us on Facebook to receive the latest news updates: https://www.facebook.com/financialnewsmedia

    Follow us on Twitter for real time Market News: https://twitter.com/FNMgroup

    Follow us on Linkedin: https://www.linkedin.com/in/financialnewsmedia/

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

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

    Contact Information:

    Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757 

    SOURCE: FN Media Group

    The MIL Network –

  • MIL-OSI: Bitcoin Acquisitions Booming as Companies Tap into Coinbase Credit Facilities Opportunity

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., July 08, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Several institutional clients have recently utilized Coinbase’s credit facilities to strategically acquire Bitcoin, underscoring growing corporate confidence in digital assets as part of long-term treasury management and diversification strategies. According to recent reports in macrotrends and other industry sources, Coinbase Global revenue for the quarter ending March 31, 2025 was $2.034B, a 24.23% increase year-over-year and Coinbase’s total revenue for the twelve months ending March 31, 2025, was $6.961 billion, showing a 75.18% increase year-over-year.  Coinbase uses credit facilities to extend loans to other companies, including Bitcoin mining firms, utilizing Bitcoin as collateral. For example, Hut 8 recently secured a $130 million Bitcoin-backed credit facility from Coinbase, which they intend to use to fund growth opportunities. Similarly, Riot Platforms entered into a $100 million credit facility with Coinbase. This strategy allows companies like Hut 8 and Riot Platforms to access capital without selling their Bitcoin holdings.  Overall, Coinbase’s strategic use of credit facilities to finance external acquisitions of Bitcoin-related businesses, coupled with their own strategic Bitcoin acquisitions and strong market performance in Q1 2025, positions them to capitalize on the growing crypto market. However, it is important to note that the market for Bitcoin and cryptocurrencies, in general, is subject to volatility and regulatory uncertainties. Coinbase’s strategic decisions reflect a balance between pursuing growth opportunities and maintaining financial stability in this dynamic environment.   Active companies in news today include: KULR Technology Group, Inc. (NYSE American: KULR), Coinbase Global, Inc. (NASDAQ: COIN), Hut 8 Corp. (NASDAQ: HUT), Riot Platforms, Inc. (NASDAQ: RIOT), Robinhood Markets, Inc. (NASDAQ: HOOD).

    Through Coinbase’s tailored lending solutions, companies can access secure, short-term credit lines to fund timely Bitcoin purchases without needing to liquidate other assets or disrupt existing capital structures. This development reflects the broader institutional adoption of digital assets and highlights the role Coinbase plays in enabling secure and compliant access to the crypto economy. While some individual company names remain confidential at this time, Coinbase confirmed that clients span industries such as fintech, digital infrastructure, and alternative investment management and include the likes of Hut8 and Riot Platforms. These firms are leveraging the platform’s lending solutions alongside Coinbase Prime’s execution and custody services for a seamless experience. Coinbase’s institutional-grade offerings continue to attract a wide range of corporate treasuries and asset managers seeking robust security, liquidity, and integrated services in one trusted platform. The credit facility product complements Coinbase’s broader mission to increase economic freedom and redefine how businesses interact with financial infrastructure.

    KULR Technology Group, Inc. (NYSE American: KULR) Group Announces $20 Million Credit Facility with Coinbase – KULR Technology Group, Inc. (the “Company” or “KULR”) ($KULR), a Bitcoin First Company and global leader in sustainable energy management, announced today that it has secured a $20 million credit facility with Coinbase Credit, Inc., a subsidiary of Coinbase Global, Inc. (NASDAQ: COIN).

    The agreement establishes a multi-draw loan facility initially totaling up to $20 million, which will be available to KULR upon execution of the credit facility (“Effective Date”). The Company intends to use the net proceeds to fund its strategic Bitcoin accumulation goals.

    “This marks KULR’s first bitcoin-backed credit facility, giving us access to non-dilutive capital at a competitive financing rate,” said Michael Mo, CEO of KULR. “It reflects our commitment to diversifying our funding sources as we continue to execute on long-term growth strategies to drive shareholder value.”

    In 2024, KULR selected Coinbase’s Prime platform to provide custody, USDC, and self-custodial wallet services for its Bitcoin holdings. At present, eight of the ten largest publicly traded companies with bitcoin on their balance sheets utilize Coinbase Prime for similar services.

    Amounts borrowed under the credit facility will be secured by a portion of the Company’s total bitcoin holdings. CONTINUED…   Read this entire press release and more news for KULR at: https://www.financialnewsmedia.com/news-kulr/

    In other developments in the markets of note:

    Coinbase Global, Inc. (NASDAQ: COIN) recently announced it is acquiring Liquifi, the leading token management platform for early-stage teams building onchain. Acquiring Liquifi gives us best-in-class capabilities in token cap table management, vesting, and compliance, and positions Coinbase to support builders earlier in their journey. This strategic move propels us in our journey to deliver a truly integrated one-stop-shop experience for businesses building onchain.

    Today, we’re taking a big step towards offering an end-to-end solution for onchain builders by acquiring Liquifi, the go-to platform for managing token ownership, vesting schedules, and compliance workflows. Teams like Uniswap Foundation, OP Labs (Optimism), Ethena, Zora, and 0x already rely on Liquifi to launch and manage their tokens, and we’re excited to help scale these operations even further.

    Hut 8 Corp. (NASDAQ: HUT) recently announced that its subsidiary has entered into a Third Amended and Restated Credit Agreement with Coinbase Credit, Inc. (“Coinbase”) to amend and expand its Bitcoin-backed credit facility from $65 million to up to $130 million and extend the maturity date to July 16, 2026.   The amended facility reflects significant improvements in both economic and structural terms, including:

    Up to $65 million in incremental, non-dilutive capital that positions Hut 8 to deploy capital against near-term opportunities advancing through its growth pipeline; Conversion from a floating-rate structure to a fixed interest rate of 9.0% designed to improve Hut 8’s overall cost of capital as it scales, compared to a stated interest rate ranging from 10.5% to 11.5% between the quarter ended December 31, 2023 and the quarter ended March 31, 2025; and Collateral and borrower protections including an improved limited recourse structure and continued application of a no-rehypothecation covenant on pledged Bitcoin.

    Riot Platforms, Inc. (NASDAQ: RIOT) recently announced the hiring of Jonathan Gibbs as Chief Data Center Officer (“CDCO”) to lead the development of Riot’s data center platform. In this role, Jonathan will lead the strategic development and operations of this new platform, which will focus on building and operating state-of-the-art data centers specifically tailored to serve hyperscale and enterprise tenants.

    The creation of this new data center platform furthers Riot’s strategy to maximize the value of its assets by expanding into the development of non-bitcoin-related data centers, which diversifies the Company’s revenues, enhances Riot’s ability to generate long-term cash returns for investors and strengthens its capabilities to contract with the world’s leading technology companies. This additional platform will build on the success of Riot’s vertically-integrated strategy of utilizing bitcoin mining at scale to create significant value across its land and power portfolio and positions the Company to capitalize on the upsurge in demand for digital infrastructure driven by the growing need for cloud computing, AI and other compute-intensive applications.

    Robinhood Markets, Inc. (NASDAQ: HOOD) recently reported select monthly operating data for May 2025. Funded Customers at the end of May were 25.9 million (up about 5 thousand from April 2025, up 1.8 million year-over-year). In May, Funded Customers grew by approximately 5 thousand after the impact of required escheatment of approximately 100 thousand low-balance accounts.

    Total Platform Assets at the end of May were $255 billion (up 10% from April 2025, up 89% year-over-year). Net Deposits were $3.5 billion in May, or a 18% annualized growth rate relative to April 2025 Total Platform Assets. Over the last twelve months, Net Deposits were $59.1 billion, or an annual growth rate of 44% relative to May 2024 Total Platform Assets.

    Equity Notional Trading Volumes were $180.5 billion (up 14% from April 2025, up 108% year-over-year). Options Contracts Traded were 179.8 million (up 7% from April 2025, up 36% year-over-year). Crypto Notional Trading Volumes were $11.7 billion (up 36% from April 2025, up 65% year-over-year).   Margin balances at the end of May were $9.0 billion (up 7% from the end of April 2025, up 100% year-over-year).   Total Cash Sweep balances at the end of May were $30.8 billion (up 7% from the end of April 2025, up 52% year-over-year).   Total Securities Lending Revenue in May was $33 million (up 32% from April 2025, up 43% year-over-year).

    About FN Media Group:

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

    Follow us on Facebook to receive the latest news updates: https://www.facebook.com/financialnewsmedia

    Follow us on Twitter for real time Market News: https://twitter.com/FNMgroup

    Follow us on Linkedin: https://www.linkedin.com/in/financialnewsmedia/

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

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

    Contact Information:

    Media Contact email: editor@financialnewsmedia.com – +1(561)325-8757 

    SOURCE: FN Media Group

    The MIL Network –

  • MIL-OSI: SuRo Capital Corp. Second Quarter 2025 Preliminary Investment Portfolio Update

    Source: GlobeNewswire (MIL-OSI)

    Net Asset Value Anticipated to be $9.00 to $9.50 Per Share

    Board of Directors Declares $0.25 Per Share Cash Dividend

    NEW YORK, July 08, 2025 (GLOBE NEWSWIRE) — SuRo Capital Corp. (“SuRo Capital”, the “Company”, “we”, “us”, and “our”) (Nasdaq: SSSS) today provided the following preliminary update on its investment portfolio for the second quarter ended June 30, 2025.

    “The second quarter was SuRo Capital’s best quarter since inception, as measured by the appreciation in NAV per share,” said Mark Klein, Chairman and Chief Executive Officer of SuRo Capital. “Our performance was largely driven by the public and private markets recognizing the value proposition of AI infrastructure companies. CoreWeave’s IPO, coupled with its post-IPO performance, led the way. Additionally, OpenAI announced a landmark $40.0 billion financing round at a $300.0 billion post-money valuation, the largest private capital raise ever by a technology company. It has been reported that Canva is preparing for a secondary tender at a $37.0 billion valuation and Colombier Acquisition Corp. II is nearing completion of a proposed merger with GrabAGun, further building on SuRo Capital’s SPAC sponsor strategy success. These developments resulted in an NAV per share uplift of over 35% for the quarter,” Klein added.

    Mr. Klein further emphasized, “Beyond these high-profile capital raises, we remain committed to backing some of the world’s most innovative and sought-after private companies ahead of their public market debuts. In April, we completed a new $5.0 million investment in Plaid (through a wholly owned SPV), a market-leading fintech platform that enables secure, seamless connectivity between financial applications and consumers, with an estimated reach of 1 in every 2 adults in the U.S.”

    “As a result of this strong performance and momentum across our portfolio, we are pleased to announce that our Board of Directors has declared an initial dividend of $0.25 per share. This dividend is driven by successful monetizations of SuRo Capital’s public securities. Based on ongoing portfolio activity, we anticipate declaring additional dividends throughout the year. As always, we will keep you informed about our dividend strategy as we gain more clarity on the timing and magnitude,” Mr. Klein concluded.

    As previously reported, SuRo Capital’s net assets totaled approximately $156.8 million, or $6.66 per share, at March 31, 2025, and approximately $162.3 million, or $6.94 per share at June 30, 2024. As of June 30, 2025, SuRo Capital’s net asset value is estimated to be between $9.00 and $9.50 per share.

    Investment Portfolio Update

    As of June 30, 2025, SuRo Capital held positions in 36 portfolio companies – 33 privately held and 3 publicly held.

    During the three months ended June 30, 2025, SuRo Capital made the following investment:

    Portfolio Company Investment Transaction Date Amount(1)
    Plaid Inc.(2) Class A Common Shares 4/4/2025 $5.0 million

    ___________________
    (1)   Amount invested does not include capitalized costs, origination fees, or prepaid expenses.
    (2)   SuRo Capital’s investment in the Class A Common Shares of Plaid Inc. was made through 1789 Capital Nirvana II LP, an SPV in which SuRo Capital is the Sole Limited Partner. SuRo Capital paid a 7% origination fee at the time of investment.

    During the three months ended June 30, 2025, SuRo Capital exited and received proceeds from the following investments:

    Portfolio Company Transaction
    Date    		 Quantity Average Net
    Share Price    (1)    		 Net
    Proceeds    		 Realized
    Gain
    CoreWeave, Inc.(2) Various 222,240 $113.99 $25.3 million $15.3 million
    ServiceTitan, Inc.(3) Various 151,515 $105.07 $15.9 million $5.9 million

    __________________
    (1)   The average net share price is the net share price realized after deducting all commissions and fees on the sale(s), if applicable.
    (2)   As of June 20, 2025, SuRo Capital had sold the entirety of its directly held CoreWeave, Inc. public common shares. As of June 30, 2025 SuRo Capital continues to hold the entirety of its interest in CW Opportunity 2 LP.
    (3)   As of June 27, 2025, SuRo Capital had sold its entire position in ServiceTitan, Inc. public common shares.

    SuRo Capital’s liquid assets were approximately $52.4 million as of June 30, 2025, consisting of cash and directly-held securities of publicly traded portfolio companies.

    As of June 30, 2025, there were 23,888,107 shares of the Company’s common stock outstanding.

    Recent Dividend Declarations and Certain Information Regarding the Dividends

    On July 3, 2025, SuRo Capital’s Board of Directors declared a dividend of $0.25 per share payable on July 31, 2025 to the Company’s common stockholders of record as of the close of business on July 21, 2025. The dividend will be paid in cash.

    The date of declaration and amount of any dividends, including any future dividends, are subject to the sole discretion of SuRo Capital’s Board of Directors.

    The aggregate amount of the dividends declared and paid by SuRo Capital will be fully taxable to stockholders. The tax character of SuRo Capital’s dividends cannot be finally determined until the close of SuRo Capital’s taxable year (December 31). SuRo Capital will report the actual tax characteristics of each year’s dividends annually to stockholders and the IRS on Form 1099-DIV subsequent to year-end.

    Registered stockholders with questions regarding declared dividends may call Equiniti Trust Company, LLC at 800-937-5449.

    Preliminary Estimates and Guidance

    The preliminary financial estimates provided herein are unaudited and have been prepared by, and are the responsibility of, the management of SuRo Capital. Neither our independent registered public accounting firm, nor any other independent accountants, have audited, reviewed, compiled, or performed any procedures with respect to the preliminary financial data included herein. Actual results may differ materially.

    The Company expects to announce its second quarter ended June 30, 2025 results in August 2025.

    Forward-Looking Statements

    Statements included herein, including statements regarding SuRo Capital’s beliefs, expectations, intentions, or strategies for the future, may constitute “forward-looking statements”. SuRo Capital cautions you that forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected or implied in these statements. All forward-looking statements involve a number of risks and uncertainties, including the impact of any market volatility that may be detrimental to our business, our portfolio companies, our industry, and the global economy, that could cause actual results to differ materially from the plans, intentions, and expectations reflected in or suggested by the forward-looking statements. Risk factors, cautionary statements, and other conditions which could cause SuRo Capital’s actual results to differ from management’s current expectations are contained in SuRo Capital’s filings with the Securities and Exchange Commission. SuRo Capital undertakes no obligation to update any forward-looking statement to reflect events or circumstances that may arise after the date of this press release.

    About SuRo Capital Corp.

    SuRo Capital Corp. (Nasdaq: SSSS) is a publicly traded investment fund that seeks to invest in high-growth, venture-backed private companies. The fund seeks to create a portfolio of high-growth emerging private companies via a repeatable and disciplined investment approach, as well as to provide investors with access to such companies through its publicly traded common stock. Since inception, SuRo Capital has served as the public’s gateway to venture capital, offering unique access to some of the world’s most innovative and sought-after private companies before they become publicly traded. SuRo Capital’s diverse portfolio encompasses high-growth sectors including AI infrastructure, emerging consumer brands, and cutting-edge software solutions for both consumer and enterprise markets, among others. SuRo Capital is headquartered in New York, NY and has an office in San Francisco, CA. Connect with the company on X, LinkedIn, and at www.surocap.com.

    Contact
    SuRo Capital Corp.
    (212) 931-6331
    IR@surocap.com

    Media Contact
    Deborah Kostroun
    Zito Partners
    SuRoCapitalPR@zitopartners.com

    The MIL Network –

  • MIL-OSI: Upexi, Inc. June 2025 Monthly Update

    Source: GlobeNewswire (MIL-OSI)

    TAMPA, Fla., July 08, 2025 (GLOBE NEWSWIRE) — Upexi, Inc. (NASDAQ: UPXI), a brand owner specializing in the development, manufacturing, and distribution of consumer products with diversification into the cryptocurrency space, today released its June 2025 monthly update.

    “June was a particularly active and successful month,” stated Upexi CEO Allan Marshall. “We increased our SOL balance during June by 8%, demonstrating continued growth while also continuing to earn an 8% staking yield. And we delivered on key initiatives, gaining listed options on Nasdaq, announcing our intention to tokenize our equity via Superstate, and joining Webull’s Corporate Connect Service platform. Looking ahead, we are laser-focused on increasing Upexi’s visibility and raising capital in an accretive fashion for the benefit of shareholders.”

    Below are a few highlights from June.

    Treasury Update as of June 30, 2025

    • Treasury: Upexi held 735,692 SOL, up 8.2% from the previously disclosed 679,677 SOL as of May 28.
    • Net Asset Value: Using the June 30 price of $154.74 per SOLi, the 735,692 SOL are valued at $113.8 million.
    • SOL per Share: Using 38.2 million shares issued and outstanding at June 30, 2025, approximately 0.0192 SOL per common share, or $2.97 per common share.
    • Staking: Substantially all the treasury SOL are being staked, earning a ~8% yield.
    • Locked SOL: Approximately 58% of the portfolio was locked SOL when purchased at a mid-teens discount to the SOL spot price and provides for built-in gains for shareholders.

    Business Initiatives

    Upexi Events / Multimedia Recap

    Solana Monthly Recap

    • Network Performance: Solana recorded strong growth and market share numbers across most major metrics, including daily active addresses and application revenue, detailed more in the chart below.
    • Firedancer Progress: Jump Crypto’s high-performance client Firedancer launched a delegation program for its hybrid Frankendancer client, which has already amassed 8% of total Solana stake.
    • Institutional Adoption: French bank Societe Generale announced plans to launch a stablecoin on Ethereum and Solana, fintech giant Fiserv revealed a forthcoming Solana stablecoin launch, Moody’s Ratings tested tokenized securities credit ratings, and Solana Policy Institute submitted compliant tokenized securities frameworks to the US SEC.
    • Solana ETF Progress: Prospective spot SOL ETF issuers submitted updated S-1 filings and Rex-Osprey revealed the upcoming launch of its Solana staking ETF, which occurred after month end.
    • Application News: RWA firm Backed launched tokenized equities, decentralized vehicle data platform DIMO expanded to Japan, decentralized science startup CUDIS announced its upcoming CUDIS token on Solana, DEX aggregator Jupiter paused DAO voting, memecoin launchpad pump.fun outlined a $1b fundraise, and memecoin Bonk launched web3 game Bonk Arena.
    • Price: SOL entered June at $157 and finished the month nearly unchanged at $155. Using daily close prices, Solana bottomed at $132 on June 22nd and peaked at $165 on June 10th.
    Solana Major Metrics, June 2025
      June 2025 YoY Growth Market Share
    Daily Active Addresses, m 4.8 200% 38%
    Daily Transactions, $b 3.0 67% 70%
    Dex Volumes, $b 182 347% 28%
    Fees, $m 31 -43% 23%
    Application Revenue, $m 147 33% 42%

    Sources: Artemis, Blockworks. Note: Market share calculated using Ethereum, Avalanche C-Chain, Sui, Solana, Base, Polygon POS, BNB Chain, Tron, and Cardano.

    About Upexi, Inc.
    Upexi is a brand owner specializing in the development, manufacturing, and distribution of consumer products. The Company has entered the cryptocurrency industry and cash management of assets through a cryptocurrency portfolio. For more information on Upexi’s treasury strategy and future developments, visit www.upexi.com.

    Follow Upexi on X – https://twitter.com/upexitreasury
    Follow CEO, Allan Marshall, on X – https://x.com/marshall_a22015
    Follow CSO, Brian Rudick, on X – https://x.com/thetinyant

    Forward Looking Statements
    This news release contains “forward-looking statements” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations, or intentions regarding the future. For example, the Company is using forward looking statements when it discusses the anticipated use of proceeds. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with business strategy, potential acquisitions, revenue guidance, product development, integration, and synergies of acquiring companies and personnel. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward- looking statements. Although we believe that the beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

    Company Contact
    Brian Rudick, Chief Strategy Officer
    Email: brian.rudick@upexi.com
    Phone: (216) 347-0473

    Media Contact
    Gasthalter & Co.
    Upexi@gasthalter.com

    Investor Relations Contact
    KCSA Strategic Communications
    Valter Pinto, Managing Director
    (212) 896-1254
    Upexi@KCSA.com

    ___________________________
    i Closing price of SOL as quoted on coinmarketcap.com

    The MIL Network –

  • MIL-OSI USA: Towering Plume From Mount Lewotobi Laki-Laki

    Source: NASA

    Mount Lewotobi Laki-Laki, a volcano on the Indonesian island of Flores, erupted on July 7, 2025, propelling a column of ash 18 kilometers (11 miles) into the air. The eruption deposited ash on villages and generated pyroclastic flows that traveled 5 kilometers (3 miles) down its slopes, according to news reports. Authorities advised nearby communities to remain on alert for potential lahars triggered by heavy rains.
    Mount Lewotobi is composed of two adjacent stratovolcanoes: Laki-Laki and Perempuan, which lie less than 2 kilometers apart. Laki-Laki, the more active of the two, began erupting around 11 a.m. local time on July 7, according to Indonesia’s volcano monitoring agency. At about 2 p.m., the VIIRS (Visible Infrared Imaging Radiometer Suite) on the Suomi NPP satellite acquired this image of its volcanic plume drifting westward. The eruption was still ongoing as of that evening, the agency reported.
    Several weeks prior, officials had raised the volcano’s alert status to the highest level when it showed an increase in earthquake activity, inflation of the ground surface, and other signs of an imminent eruption. Volcanic emissions from eruptions in both June and July caused dozens of flight cancellations to and from Bali and other airports in the region, according to news reports.
    This latest event is a continuation of eruptive activity occurring at Laki-Laki since late 2023. During an especially intense period of activity in November 2024, several explosive eruptions generated deadly volcanic debris flows and darkened the landscape with ash. The conical Laki-Laki has been frequently active since the 19th century, while the taller and broader Perempuan erupted most recently in 1921 and 1935.
    NASA Earth Observatory image by Wanmei Liang, using VIIRS data from NASA EOSDIS LANCE, GIBS/Worldview, and the Suomi National Polar-orbiting Partnership. Story by Lindsey Doermann.

    MIL OSI USA News –

  • MIL-OSI USA: Six months after the LA fires, nation’s fastest residential cleanup nears completion as Governor Newsom signs streamlining executive order, joins local leaders to unveil blueprint for rebuilding

    Source: US State of California 2

    Jul 7, 2025

    Recovery moves into next phase with focused plan to fast-track reconstruction and support impacted communities

    What you need to know: Governor Newsom has announced that debris removal for the Los Angeles firestorm is now substantially complete just six months after the fires ignited and has signed a new executive order to further fast-track rebuilding homes and schools. The Governor announced a blueprint for recovery in partnership with Los Angeles County leaders. 

    LOS ANGELES – On the six month anniversary of the Eaton and Palisades fires, Governor Gavin Newsom today announced the substantial completion of the public debris removal program from more than 10,000 fire damaged parcels — marking the fastest major disaster cleanup in American history. The Governor also signed an executive order shepherding rebuilding homes and schools. He also joined local officials to unveil a new blueprint for recovery, a step-by-step plan to accelerate rebuilding and provide support to impacted families and communities. The near-completion of the public debris removal program comes months ahead of schedule.

    This is the biggest reform of the California mental health system in decades and will finally equip partners to deliver the results all Californians need and deserve. Treatment centers will prioritize mental health and substance use support in the community like never before. Now, it’s time to roll up our sleeves and begin implementing this critical reform – working closely with city and county leaders to ensure we see results.

    Governor Gavin Newsom

    “Visiting LA during the fires and in their devastating aftermath, I met with so many who despite facing so much loss and suffering themselves, were out helping their neighbors—delivering food, donating clothes, rescuing pets, opening up their homes to those who had lost theirs,” said First Partner Jennifer Siebel Newsom. “Although much has been accomplished already in this recovery effort, the work continues. In it, Angelenos continue to show each other—and the world—the very best of us.” 

    Historic debris removal operation 

    The LA Fires cleanup is the second largest in state history after the Camp Fire and was jointly managed by the Governor’s Office of Emergency Services (Cal OES) and United States Army Corps of Engineers, in partnership with Federal Emergency Management Agency (FEMA), as well Los Angeles County and City of Los Angeles. 
    Of the 12,048 total properties destroyed in the twin fires, 9,873 opted to participate in the cost-free public cleanup program and 1,982 opted to complete the work themselves. As of today 9,195 total have been cleared of debris with several hundred more awaiting erosion control measures and final sign-off.
    Any properties whose owner did not opt into the state-federal cleanup or remediate their parcel privately will be subject to a locally led city and county abatement process which is already underway.

    Billions of pounds of debris remediated

    The volume of ash, soot and structural debris cleaned up during this short time is nothing short of breathtaking.
    Crews removed more than 2.5 million tons — or 5.5 billion pounds — of ash, debris, metal, concrete, and contaminated soil in nine months’ time as part of California’s Consolidated Debris Removal Program. The total tonnage removed from the Eaton and Palisades Fires is equivalent to 92 Statues of Liberty. It is twice the amount removed from Ground Zero after 9/11.

    Prioritizing efficient rebuilding

    Today’s executive order fast-tracks the rebuilding of homes and schools affected by the disaster by suspending local permitting laws and building codes, at the request of local officials. The order: 

    • Expands suspensions of the Coastal Act and CEQA in the city of Los Angeles, creating parity among homeowners in the city and allowing homeowners to fast-track their entire rebuilding project.
    • Expands existing Coastal Act and CEQA exemptions to streamline rebuilding public schools, getting kids back in neighborhood public schools faster.
    • Exempts residents who are rebuilding homes from the requirement to install rooftop solar and battery storage systems to reduce up-front costs, while retaining the “Solar Ready” requirement to ensure these structures can support future installation of solar energy systems. 
    • Suspends changes to building codes that would go into effect on January 1, 2026, when not all homeowners will have finalized their plans to rebuild, to create certainty for homeowners and avoid the need to change plans, while retaining updated fire safety requirements.

    A blueprint for recovery 

    The progress made during this effort is due in large part to the unprecedented coordination among city, county, state, and federal partners.

    As the debris-removal work comes to an end and communities set their sights on the next phase of recovery, Los Angeles County embraces its role to lead local rebuilding efforts in unincorporated areas and foster conditions for a successful and equitable reconstruction and recovery in both city and county areas.

    The focus now shifts to the ongoing rebuilding process, where the state is actively supporting local officials in:

    • Identifying community needs for reconstruction
    • Specifying the magnitude and time-sensitivity of community needs, including needs for homeowners, residents, businesses and others.  
    • Defining priorities and what the county can do to move the needle and address identified needs
    • Communicating how it’s partnering to make reconstruction fast and affordable
    • Outlining an implementation roadmap 

    This blueprint will serve the near-term roadmap for the next 120 days, enabling the county to maintain the current pace for rebuilding and not be late to the needs of communities.  

    What they are saying

    “We have made tremendous progress in rebuilding our communities for the thousands of families who lost everything in the Eaton and Palisades fires, but to keep up this momentum, we are going to need more federal support. I will continue to push my colleagues in Congress to approve additional disaster assistance for California, because natural disasters don’t discriminate between red or blue states. We have always been there to help our neighbors, and it’s time for Congress to step up and deliver the disaster aid California needs.” – U.S. Senator Alex Padilla

    “For the past six months, as Los Angeles confronted the most devastating natural disaster in a generation, our communities have rallied to remind the world why we are the City of Angels. First responders, volunteers, friends, and neighbors helped recovery efforts, many of whom I’ve had the good fortune to meet and thank firsthand. In California, we have brought a sense of urgency to the cleanup and rebuilding, united in our goal of rising stronger from this ash and adversity. Senator Padilla and I continue to work with the Governor and the entire California delegation in Congress to supplement local efforts with the overdue federal disaster assistance needed to fully restore these vital neighborhoods,” – U.S. Senator Adam Schiff

    “Six months ago, our community was forever changed by the Los Angeles wildfires. Today, we remember the lives lost, the homes destroyed, and the bravery of those who stood in the face of unimaginable devastation. While we’ve made tremendous progress in delivering critical aid and coordinating relief on the ground, our work is far from over. We still face urgent challenges like securing affordable, long-term housing for those displaced. That’s why I’m incredibly grateful for Governor Newsom’s support and partnership as we fight for additional federal disaster aid to ensure that every survivor has the resources they need to recover and rebuild. As climate change fuels more frequent and devastating natural disasters across the country, we must remember that natural disasters have no political affiliations. And neither should our response. Every American deserves swift and fair federal aid no matter where they live or who they voted for.” – U.S. Representative Judy Chu

    “Reaching the six-month anniversary of the Los Angeles Wildfires reminds us that while recovery is a long journey, progress is possible when we stand together. From day one, Governor Newsom and his Administration have been true partners in this work, helping us cut red tape, bring resources to survivors, and rebuild with urgency and compassion. We have completed the fastest debris cleanup in California history and are now moving forward with an ambitious, people-first recovery blueprint. I remain committed to ensuring every affected community has the support they need to rebuild and thrive.” – Los Angeles County Board of Supervisors Chair Kathryn Barger

    “Six months ago, the Palisades and Eaton Fires put our communities to the ultimate test. In the face of colossal devastation, we witnessed the unshakable resilience of the human spirit. Our residents stood strong, banded together, and reminded us all of the power of community. Thanks to a close partnership with Governor Newsom, governmental coordination at every level, and tireless County teams, we’ve already led the fastest debris removal in history. This is the spirit of Los Angeles County — and our momentum will continue. Together, we are not just restoring what was lost — we are building back stronger, safer, and more united than ever.” – Los Angeles County Supervisor Lindsay Horvath

    “Six months ago, L.A. experienced one of the most unprecedented natural disasters in U.S. history. But this community—from Pacific Palisades to Malibu to Altadena—is resilient. We are L.A. strong. I want to thank Governor Newsom, Supervisor Barger, and all of our federal, state, County, non-profit and philanthropic partners for their collaboration as we continue to lead the fastest recovery in state history as we create clear and supportive pathways for homeowners to rebuild.” – Los Angeles Mayor Karen Bass

    “As we mark six months since the Eaton Fire, I want to thank Governor Newsom for his leadership and steadfast support. I also want to acknowledge our federal, state, and local partners—including Supervisor Kathryn Barger and her team, FEMA, the U.S. Army Corps of Engineers, CalOES, LA County Public Works, and our dedicated City of Pasadena team. Thanks to these strong partnerships, and the strength and heart of our local community, we have forged a path of recovery that is not only steady—it is, by all measures, unprecedented in its pace and coordination.” – Pasadena Mayor Victor Gordo

    “The City of Malibu is grateful for the cooperation of the Governor’s office during this extraordinary time. Additionally, the outstanding teamwork that has developed between the State of California, County of Los Angeles and our Federal partners, including the Army of Corp of Engineers, is something we can all be proud of. All levels of government have looked to find innovative ways to respond and work to create an efficient recovery. We are excited to continue our work to rebuild our communities and find ways to reduce rebuild costs by working together.” – Malibu Mayor Marianne Riggins

    “On this six-month anniversary of the Eaton Fire, I want to extend our sincere gratitude to our federal, state, and county partners, for their continued leadership and support. Thanks to their efforts, we’ve made significant progress toward recovery. Nevertheless, we recognize there is still critical work ahead to fully restore our impacted communities and Sierra Madre remains committed to that path.” – Sierra Madre Mayor Robert Parkhurst

    “This progress is a testament to the unwavering collaboration between FEMA, USACE, CalOES, L.A. County Department of Public Works and all of our federal, state, local and private sector partners. In my 28 years of emergency management, I’ve rarely seen such an effective and united response and recovery effort. Together, we are making significant strides in helping communities rebuild and restore their lives. The dedication and hard work of everyone involved exemplifies the true spirit of American resilience and determination, making this milestone possible.” – FEMA Region 9 Administrator Bob Fenton

    “Over the past six months, the U.S. Army Corps of Engineers, working closely with our federal, state, and local partners, has made significant progress in the Eaton and Palisades Fire debris removal mission. Together, we’ve safely and efficiently cleared thousands of fire-impacted properties, moving quickly to reduce hazards and help communities take the next steps toward recovery. This mission demonstrates what can be achieved through strong partnerships and a shared commitment to fast, safe, and effective operations. USACE remains fully committed to seeing this mission through to completion.” – Colonel Eric R. Swenson, United States Army Corps of Engineers
     

    California’s all-in efforts

    Since the first day these firestorms ignited, Governor Newsom has been on the ground leading an all-in state response and recovery. 

    The Governor deployed resources before the hurricane-force fires broke out – growing to over 16,000 boots on the ground at the peak of the state’s response. And in the hours that followed, Governor Newsom launched historic recovery and rebuilding efforts to help Los Angeles get back on its feet, faster. 

    Even before the fires were out, Governor Newsom worked closely with outgoing President Joe Biden to secure a Presidential Major Disaster Declaration and then coordinated with the Trump Administration to ensure comprehensive federal support for Los Angeles. 

    That work has paid dividends as the current pace of debris and hazardous waste removal is months ahead of the cleanup timeline for the Camp, Woolsey, Hill fires in 2019 and Tubbs Fire in 2017/18, which at the time were themselves the fastest of their kind. 

    State and federal officials worked hand in glove to clear hazardous waste from 9,000 homes in less than 30 days. At the project’s peak, as many as 500 crews of expert heavy equipment operators from the Army Corps of Engineers worked around the clock to rapidly clear ash, soot, and fire debris from structures damaged by the Eaton and Palisades fires. 

    By the numbers 

    • 16,000 first responders and recovery personnel deployed
    • $2.5 billion in Small Business Administration Assistance approved. 
    • $144.2 million in individual assistance disbursed
    • $100 million in dedicated community partnerships through LA Rises
    • 40,000 totals visitors to disaster recovery centers 
    • 30 days to clear properties of hazardous waste
    • 9,195 properties cleared of debris 
    • 2,300 homes cleared of debris 
    • 12,500 right of entry forms submitted 
    • 8 of 8 schools resumed in person instruction 
    • 9 of 9 water systems reactivated  

    California’s historic recovery and rebuilding efforts 

    Cutting red tape to help rebuild Los Angeles faster and stronger

    • The new executive order builds on prior orders to streamline the rebuilding of homes and businesses destroyed — suspending permitting and review requirements under the California Environmental Quality Act (CEQA) and the California Coastal Act. The Governor also issued an executive order further cutting red tape by reiterating that permitting requirements under the California Coastal Act are suspended for rebuilding efforts and directing the Coastal Commission not to issue guidance or take any action that interferes with or conflicts with the Governor’s executive orders. The Governor also issued an executive order removing administrative barriers, extending deadlines, and providing critical regulatory relief to help fire survivors rebuild, access essential services, and recover more quickly.

    Providing tax and mortgage relief to those impacted by the fires

    Fast-tracking temporary housing and protecting tenants

    • To help provide necessary shelter for those immediately impacted by the firestorms, the Governor issued an executive order to make it easier to streamline construction of accessory dwelling units, allow for more temporary trailers and other housing, and suspend fees for mobile home parks. Governor Newsom also issued an executive order that prohibited landlords in Los Angeles County from evicting tenants for sharing their rental with survivors displaced by the Los Angeles-area firestorms.
    • With an eye toward recovery, the Governor directed fast action on debris removal work and mitigating the potential for mudslides and flooding in areas burned. He also signed an executive order to allow expert federal hazmat crews to start cleaning up properties as a key step in getting people back to their properties safely. The Governor also issued an executive order to help mitigate risk of mudslides and flooding and protect communities by hastening efforts to remove debris, bolster flood defenses, and stabilize hillsides in affected areas. 

    Safeguarding survivors from price gouging

    Directing immediate state relief

    Getting kids back in the classroom

    Protecting victims from real estate speculators

    • The Governor issued an executive order to protect firestorm victims in the immediate aftermath of losing their homes from predatory land speculators making aggressive and unsolicited below-market cash offers to purchase their property.

    Helping businesses and workers get back on their feet

    The Governor issued an executive order to support small businesses and workers, by providing relief to help businesses recover quickly by deferring annual licensing fees and waiving other requirements that may impose barriers to recovery.

    Recent news

    Jul 4, 2025

    News Sacramento, California – Governor Gavin Newsom today issued a proclamation declaring July 4, 2025, as “Independence Day” in the State of California.The text of the proclamation and a copy can be found below: PROCLAMATIONEach year on the Fourth of July, we…

    Jul 3, 2025

    News SACRAMENTO – A day after announcing California has more than doubled its Film and Television Tax Credit Program, Governor Gavin Newsom today signed legislation to further strengthen the state’s commitment to film and television production:AB 1138 by…

    Jul 3, 2025

    News What you need to know: As we approach the Fourth of July holiday and weekend, California is taking steps to keep communities safe during festivities by increasing outreach and highlighting resources. Sacramento, California — As Californians gear up to celebrate…

    MIL OSI USA News –

  • MIL-OSI: Hyperscale Data Reports Approximately $11.2 Million in Bitcoin Mining Revenue Year to Date, Including Approximately $1.5 Million for June 2025

    Source: GlobeNewswire (MIL-OSI)

    LAS VEGAS, July 08, 2025 (GLOBE NEWSWIRE) — Hyperscale Data, Inc. (NYSE American: GPUS), a diversified holding company (“Hyperscale Data” or the “Company”), today announced that its wholly owned subsidiary Sentinum, Inc. (“Sentinum”) received approximately 13.7 Bitcoin in the month of June 2025 and approximately 103.7 Bitcoin year to date (through June 30, 2025) from the mining pool to which Sentinum provides hash calculation services. Revenue is calculated daily based upon the number of Bitcoin earned that day at the value of Bitcoin on such date.

    As previously announced, Sentinum entered into a hosting services agreement with a service provider in Montana to provide Sentinum with operations and asset management services and access to approximately 20 megawatts (“MWs”) of energy capacity and other critical infrastructure to be used for Sentinum’s Bitcoin mining operations. Sentinum has delivered approximately 6,800 Antminers (“Antminers”) to the service provider’s data center, which have been installed and are ready for operation. In addition, Sentinum recently completed the reenergizing of approximately 10 MWs of power at its Montana facility and resumed Bitcoin mining operations, with approximately 2,600 Antminers operational today, which is anticipated to be increased to approximately 3,200 Antminers by the end of July 2025.

    “The activation of two additional Bitcoin mining sites marks a significant step forward for our Bitcoin mining operations, with approximately 18,200 Antminers operational,” said William Horne, CEO of Hyperscale Data. “With approximately $11.2 million in year-to-date Bitcoin mining revenue, and a significant increase in expected topline revenue for the third and fourth quarters of 2025, we’re demonstrating the strength of our infrastructure and the momentum behind our strategy. We remain committed to maximizing efficiency and delivering long-term value to our stockholders.”

    Hyperscale Data notes that all estimates and other projections are subject to the volatility in Bitcoin’s market price, the fluctuation in the mining difficulty level, the ability to deliver and provide the necessary power for miners, the obligation to deliver Bitcoin mined as payment towards fees and deposits until paid in full, full utilization of the miners, which includes the right of our service provider to turn off Antminers when energy prices are unfavorable for Bitcoin mining, and other factors that may impact the results of Bitcoin mining production or operations. In addition, Hyperscale Data cautions that revenue will only be recognized to the extent that Bitcoin (or cash upon the sale of Bitcoin) is deposited into our account, which amount will be less than the value of all Bitcoin mined.

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

    About Hyperscale Data, Inc.

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

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

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

    Forward-Looking Statements

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

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

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

    The MIL Network –

  • MIL-OSI Russia: Mikhail Mishustin appointed Dmitry Volvach as head of the Federal Accreditation Service

    Translation. Region: Russian Federal

    Source: Government of the Russian Federation – Government of the Russian Federation –

    An important disclaimer is at the bottom of this article.

    Order dated July 7, 2025 No. 1831-r

    The Federal Accreditation Service (Rosaccreditation) is headed by Dmitry Volvach. The order on his appointment to this position was signed by Prime Minister Mikhail Mishustin.

    Document

    Order dated July 7, 2025 No. 1831-r

    Dmitry Volvach was born in 1972 in Moscow.

    In 1996, he graduated from the Lomonosov Moscow State University with a degree in physics, in 1998, from the Law College – Specialized Institute of Jurisprudence of the Lomonosov Moscow State University with a degree in jurisprudence, and in 2001 from the All-Russian State Tax Academy with a degree in finance and credit. Candidate of Legal Sciences.

    From 1998 to 2000, he worked in the Interdistrict Inspectorate of the Ministry of the Russian Federation for Taxes and Duties No. 40 for the city of Moscow.

    Since 2000, he has worked in various positions in the Ministry of Taxes and Duties of the Russian Federation, and later in the Federal Tax Service. From 2019 to 2021, he was deputy head of this department.

    Since March 2021, he held the post of Deputy Minister of Economic Development of the Russian Federation.

    Nazariy Skrypnik, who until now headed the Federal Accreditation Service, has been relieved of his post at his request.

    Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.

    .

    MIL OSI Russia News –

  • MIL-OSI Asia-Pac: InvestHK signs MOU with Xi’an Hi-Tech Zone to foster Shaanxi-Hong Kong partnership in empowering enterprises’ global expansion (with photos)

    Source: Hong Kong Government special administrative region – 4

         Invest Hong Kong (InvestHK) today (July 8) cohosted the “Shaanxi-Hong Kong Collaboration: Leveraging Hong Kong Strengths to Support Shaanxi Tech Companies in Going Global” seminar in Xi’an, Shaanxi Province, in collaboration with the Hong Kong and Macao Affairs Office of the Shaanxi Provincial People’s Government and the Shaanxi Association for Science and Technology. The event was also co-organised by the Hong Kong Economic and Trade Office in Chengdu (CDETO), the Hong Kong Special Administrative Region (HKSAR) Government’s Shaanxi Liaison Unit, Shaanxi Province Xixian New Area Development and Construction Management Committee, and the Xi’an High-Tech Industries Development Zone Management Committee.
          
         The Director of the CDETO, Mr Enoch Yuen; the Director-General of the Hong Kong and Macao Affairs Office, Shaanxi Provincial Government, Ms Yao Hongjuan; and Vice President of the Shaanxi Association for Science and Technology Mr Lv Jianjun delivered welcome remarks to guests and the media. Mr Yuen said, “The National 14th Five-Year Plan explicitly designates Hong Kong as an international innovation and technology hub, while Shaanxi serves as a key national base for technology and industry, with strong capabilities in energy and chemical engineering, equipment manufacturing, and aerospace, among others. Both Hong Kong and Shaanxi place great importance on the development of the innovation and technology industry, and frequent high-level exchanges between the two places have continued to deepen in recent years. We look forward to deeper collaboration, leveraging Hong Kong’s strengths in taxation, finance, and global connectivity, while combining them with Shaanxi’s strong industrial foundation and innovative vitality, to achieve a mutually beneficial partnership.”
          
         Ms Yao stated that efforts will be made to actively promote and deepen economic, trade, and investment co-operation between Shaanxi and Hong Kong, particularly in the fields of innovation and technology, as well as new quality productive forces. These efforts aim to help enterprises in both regions seize development opportunities and achieve complementary advantages. Mr Lv also delivered remarks at the event.
          
         One of the key highlights of the event was the signing of a Memorandum of Understanding (MOU) between InvestHK and the Xi’an High-Tech Industries Development Zone Management Committee, marking a solid step forward for Shaanxi and Hong Kong in promoting the international development of enterprises in the central and western regions.
          
         Xi’an High-tech Zone is one of the first national high-tech zones approved by the State Council. In 2024, Xi’an High-tech Zone ranked fifth in the country and first in the central and western regions in the comprehensive evaluation of national high-tech zones. The zone focuses on developing innovative industries such as optoelectronic information, smart manufacturing, biomedicine, automobiles, new materials and energy. It has successfully built two “hundred-billion-level industrial clusters” in the automobile industry and electronic information. At present, the zone has become the world’s largest production base for flash memory chips and new energy vehicles.
          
         Under the MOU, the Xi’an High-Tech Industries Development Zone Management Committee will encourage enterprises in the zone to utilise Hong Kong as a base for expanding overseas business. InvestHK will provide enterprises with information on the business environment and policies in Hong Kong, as well as support services for companies investing and operating in Hong Kong. The signing of this MOU establishes a structured collaboration framework, combining Hong Kong’s unique strengths as an international financial centre and Xi’an High-Tech Zone’s innovation capabilities to empower enterprises in accessing global resources efficiently and seizing early opportunities in international markets.
          
         The Head of the Go Global Unit/Business and Talent Attraction/Investment Promotion of Western China of InvestHK, Mr Jason Gan, and the Director of the Science and Technology Innovation Bureau of the Xi’an High-Tech Industries Development Zone, Mr Gao Yuntian, signed the memorandum of co-operation on behalf of their respective sides. Mr Gan said after the signing, “There are tremendous opportunities for co-operation between Shaanxi and Hong Kong in developing new quality productive forces and contributing to China’s high-quality development. As a vital bridge between the Mainland and international markets, Hong Kong has long been committed to providing comprehensive support for Mainland innovation-driven enterprises. We hope to further leverage the complementary advantages of the two places to assist high-quality enterprises in the zone to go global via Hong Kong, and work together to explore new innovative co-operation.”
          
         The Head of Innovation & Technology of InvestHK, Mr Andy Wong, delivered a keynote speech and highlighted Hong Kong’s competitive edge in the I&T sector. “We possess a number of competitive advantages in developing innovation and technology, including world-class academic research and talent, cutting-edge R&D infrastructure, robust intellectual property protection, and the strong support of the HKSAR Government. In 2024, InvestHK supported 120 innovation and technology companies to set up or expand in Hong Kong, making it the top sector among those we assisted. This reflects the international community’s confidence in and recognition of Hong Kong’s I&T development, and further affirms the city’s strategic role as a two-way platform between the Mainland and global markets. Hong Kong’s innovation and technology sector has recently made remarkable progress in several areas. For example, the first batch of regulatory sandbox pilot projects for the low-altitude economy has been launched, serving as a new engine for Hong Kong’s future development. In addition, the city’s new drug approval mechanism has been updated to accelerate the market entry of new pharmaceuticals. I sincerely hope that I&T enterprises in Shaanxi will seize the diverse opportunities offered by Hong Kong to expand into international markets,” he said.

         Senior Manager of the Leasing and Operations Department of Hong Kong-Shenzhen Innovation and Technology Park Limited Mr Tandy Tan and Associate Director of the Research and Innovation Office of Hong Kong Polytechnic University Mr Victor Zhao also shared the opportunities of the Hong Kong Innovation and Technology Center and highlighted Hong Kong’s R&D capabilities in empowering new quality productive forces raised from Hong Kong universities. Deputy Director of the Science, Technology Innovation and New Economy Bureau, Shaanxi Province Xixian New Area Ms Han Ping also shared the latest developments on Shaanxi’s I&T industry construction centre.
          
         This event featured a panel discussion with industry leaders from professional services in Hong Kong, especially in financial professional services. Guest speakers from Hong Kong Exchanges and Clearing Limited, HSBC and Deloitte Tax shared insights on how Hong Kong’s financial and professional services can accelerate Mainland firms’ global expansion.
          
         The seminar included a dedicated exchange session to provide on-site consulting services for corporate representatives interested in expanding to Hong Kong. The event attracted 190 representatives from Shaanxi enterprises, institutions and local media.

    MIL OSI Asia Pacific News –

  • MIL-OSI United Kingdom: Green plans would wipe out millions in Council Tax debt

    Source: Scottish Greens

    08 Jul 2025 Finance

    It is time to stop the clock on cruel historical debt collection.

    More in Finance

    Decades-old Council Tax debts worth hundreds of millions of pounds will be written off if MSPs agree to changes proposed by Scottish Greens finance spokesperson Ross Greer.
     
    The proposals, tabled as amendments to the Housing Bill, would end the current situation where Council Tax debts in Scotland are chased for four times as long as other forms of debt before being written off.
     
    Data from The Telegraph published in March this year showed that almost £2 billion of Council Tax arrears have been racked up by Scottish households since the Council Tax system was introduced in 1993.
     
    This change would reduce the time limit for Council Tax arrears, at which point the debt is written off and collection efforts are stopped. The current limit for Scottish Council Tax debt is twenty years, despite English, Welsh and Northern Irish Council Tax arrears being written off after just six years.
     
    The twenty year clock also resets every time someone acknowledges or tries to pay off their debts, effectively meaning that debts are held and pursued permanently, even when there is no prospect of them being paid off.
     
    Most other forms of debt in Scotland are subject to a five year cut-off for collection efforts.
     
    If passed, this proposal would effectively cancel any Council Tax debts built up before 2020. Analysis by the Scottish Greens suggests that the move would take hundreds of millions of pounds of debt off of the shoulders of low-income and vulnerable households.
     
    It would also tackle the problem of vulnerable people not seeking help from their local council for other issues in their lives due to fear that they will be chased for debts they cannot afford to pay off.
     
    Anti-poverty campaigners including Aberlour say that current council and government debt collectors “trap families in a cycle of poverty, through seized benefits, missed payments, new loans and extortionate interest.”
     
    Ross said:

    “We need to break the decades-old cycle of poverty and debt. Scotland’s system for collecting Council tax debts is far harsher than those in the rest of the UK and that needs to end. My proposals would give relief to people who are often in no position to pay back these decades-old debts, letting them get their lives and finances back on track.

    “At the moment, the 20-year clock resets each time someone attempts to pay off or even acknowledge their debt, meaning some councils are still chasing debts from when this system started in 1993. That’s before I was even born.

    “And the fear of having bailiffs at the door means vulnerable people aren’t going to their councils for help when they really need it.

    “Council tax debt is one of the biggest drivers of Scotland’s public debt crisis, locking thousands of vulnerable people into cycles of poverty which they can’t break out of.

    “If we want to end poverty for good and make Scotland a better place to live, we have to end the systems that keep people stuck in cycles of unpayable debts. It is time to wipe out these decades-old Council Tax debts.”

    MIL OSI United Kingdom –

  • MIL-OSI Africa: Taxpayers urged to use digital platforms to communicate with SARS

    Source: Government of South Africa

    Taxpayers urged to use digital platforms to communicate with SARS

    As the filing season for individuals is underway, the South African Revenue Service (SARS) Commissioner, Edward Kieswetter, has encouraged taxpayers to use SARS’s digital channels to engage with the organisation. 

    “Taxpayers do not have to expose themselves to the elements in this cold weather and stand in queues. They can conduct their tax affairs in the comfort of their homes rather than pay taxi fares,” Kieswetter said on Monday.

    The Commissioner made these comments during his visit to the SARS’s Alberton Taxpayer Service Centre, where he reviewed the state of readiness as Auto Assessment begins, running from 7 to 20 July 2025.

    During his visit, he was accompanied by Minister of Finance, Enoch Godongwana, who expressed his satisfaction at SARS’s state of readiness to deliver a successful and easy Filing Season for taxpayers.

    The Minister and the Commissioner interacted with taxpayers, most of whom had visited the offices to update and verify their registered details, including changing emails, banking information, and cellphone numbers.

    Some of the taxpayers had visited the branch to settle matters related to their outstanding tax debt and returns.

    SARS stressed that there is no need to visit a SARS branch but if taxpayers must, they should first book an appointment to avoid long queues.

    SARS has started to issue Auto Assessments to taxpayers whose tax affairs are less complicated. If taxpayers agree with their Auto Assessment, no further action is required from them.

    “Acceptance is automatic, so taxpayers need not manually accept the Auto Assessment. Taxpayers are advised to wait for the SMS/email notice before logging in to eFiling or the SARS MobiApp.

    “Refunds less than R100 due to taxpayers will automatically be paid into their bank accounts within 72 hours once the assessment is completed,” SARS said.

    Filing Season 2025 opened for non-provisional and some provisional taxpayers who were not auto-assessed. 

    The filing period for non-provisional taxpayers is from 21 July to 20 October 2025. Provisional taxpayers’ filing window will close on 19 January 2026.

    The following dates should be diarised for this year’s Filing Season: 
    •    Issuing of Auto Assessment notices: 7 – 20 July 2025.
    •    Individual taxpayers (non-provisional): 21 July – 20 October 2025.
    •    Provisional taxpayers: 21 July 2025 – 19 January 2026.

    “Taxpayers are urged to be extremely careful and keep their details confidential. In the run-up to Filing Season, there will be many attempts from scammers to defraud taxpayers. 

    “Scammers can present themselves as SARS officials to steal taxpayers’ personal details, make them click on links, or pay money into an account. SARS will never ask taxpayers to use any link. Taxpayers must protect their eFiling login details and use only registered tax practitioners,” SARS said.

    Information on the latest scams can be found on the SARS website: www.sars.gov.za. 

    To report or request information on phishing, taxpayers can send an email to phishing@sars.gov.za. To avoid penalties, taxpayers must submit accurate information promptly. 

    For a smooth and easy Filing Season 2025, taxpayers are urged to use the following communication channels with SARS:
    •    SARS Website: visit www.sars.gov.za and click on the “Individuals” tab.
    •    SARS Online Query System (SOQS): https://tools.sars.gov.za/soqs.
    •    SARS WhatsApp: send “Hi” or “Hello” to 0800 117 277.
    •    AI Virtual Assistant: available 24/7 on the SARS website to answer queries.
    •    Dial *134*7277#: to access SARS services.
    •    SARS YouTube: visit @sarstax for how-to videos.

    – SAnews.gov.za

    nosihle

    MIL OSI Africa –

  • MIL-OSI: Valeura Energy Inc.: Q2 2025 Operations and Financial Update

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, July 08, 2025 (GLOBE NEWSWIRE) — Valeura Energy Inc. (TSX:VLE, OTCQX:VLERF) (“Valeura” or the “Company”) is pleased to provide an update on Q2 2025 operations.

    Highlights

    • Safe ongoing operations, with oil production averaging 21.4 mbbls/d(1) – maintaining full year production guidance of 23.0 – 25.5 mbbls/d;
    • Revenue of US$129.3 million;
    • Taxes of US$15.8 million paid, primarily in respect of the Jasmine asset. No further cash tax payments anticipated for the remainder of 2025;
    • Cash position of US$241.9 million and no debt; and
    • Final investment decision on the Wassana Field redevelopment and construction phase commenced.

    (1) Working interest share oil production, before royalties.

    Dr. Sean Guest, President and CEO commented:

    “During Q2 2025 we demonstrated another safe quarter of ongoing production and drilling operations and took a positive final investment decision on our major redevelopment project at the Wassana field, which is now moving to the construction phase.

    While production volumes are down quarter-on-quarter, our plan had always assumed that production would be weighted to the second half of the year and we are therefore maintaining our full-year production guidance range of 23.0 – 25.5 mbbls/d.

    From a financial perspective, we continue to prioritise balance sheet strength, and firmly believe this will serve our stakeholders well as we pursue opportunities to add value. While the headwinds of lower global oil prices during the quarter are apparent in our revenue of US$129.3 million, we are continuing to invest while maintaining a strong cash position.”

    Q2 2025 Update

    Working interest share production before royalties averaged 21.4 mbbls/d during Q2 2025, a decrease of 10.2% from Q1 2025. Rates reflect the impact of planned downtime and natural declines at Valeura’s larger producing assets, which is consistent with the Company’s business plan. Q2 was anticipated to be the lowest production quarter of the year, and with rates weighted to the second half of 2025, the Company is maintaining its full year production guidance range of 23.0 – 25.5 mbbls/d.

    Oil sales totalled 1.90 million bbls during Q2 2025. The Company recorded a net increase in oil inventory, as measured at the end of the quarter, to a total of 0.93 million bbls at June 30, 2025. In addition, a parcel of 0.24 million bbls of oil was sold just after the end of the quarter, on July 1, 2025.

    Price realisations averaged US$67.95/bbl during Q2 2025, a US$0.67/bbl premium over the weighted average Brent crude oil benchmark. Realised price was down 14% from Q1 2025 given the significant drop in global oil prices.

    Taxes for the Company’s Thai I concession (Jasmine) are due in May of each year for the prior full year, and US$15.8 million was duly paid during the quarter primarily in respect of this asset. Taxes for the Company’s Thai III concessions (Nong Yao, Manora, and Wassana) are due in May and August of each year, however taxable income for the current tax period (2H 2024) was fully offset by tax loss carry-forwards. Given the above, no further tax payments are expected in 2025.

    Despite a relatively low oil price, a full quarter of spending on drilling operations, and scheduled Thai tax payments, Valeura’s cash position at June 30, 2025, was US$241.9 million (with no debt), up slightly from the previous quarter-end. In addition, US$19.6 million in revenue, relating to a lifting on June 25, 2025, was not received until early in July 2025. As a result, this US$19.6 million is not included in the revenue or the Company’s cash balance at June 30, 2025, but will be correctly accounted in the Q2 financials.

    Operations Update
    Production operations are continuing safely on Valeura’s four Gulf of Thailand fields, with no lost time injuries.

    During the quarter, Valeura mobilised its contracted drilling rig to Block G11/48 (Nong Yao, 90% working interest). The drilling campaign is progressing as planned toward its objective of approximately 10 new development wells and is expected to be complete in Q4 2025. The campaign will entail new development wells drilled from each of the three Nong Yao wellhead facilities, and will therefore include the first ever infill development wells on the Nong Yao C platform, which the Company installed in 2024.

    In May 2025, Valeura took a final investment decision on redevelopment the Wassana field in Licence G10/48 (100% interest). The project will entail deployment of a new central processing platform facility on the field, intended to increase production, reduce costs, and create a hub for eventual tie-in of potential additional satellite wellhead platforms. The project is on plan, and moving into its construction phase now. First production is planned for Q2 2027.

    Results Timing
    Valeura intends to release its full unaudited financial and operating results for Q2 2025 on August 7, 2025, and will discuss the results in more detail through a management webcast hosted later that day.

    For further information, please contact:

    Valeura Energy Inc. (General Corporate Enquiries)
    +65 6373 6940
    Sean Guest, President and CEO
    Yacine Ben-Meriem, CFO
    Contact@valeuraenergy.com

    Valeura Energy Inc. (Investor and Media Enquiries)
    +1 403 975 6752 / +44 7392 940495
    Robin James Martin, Vice President, Communications and Investor Relations
    IR@valeuraenergy.com

    About the Company

    Valeura Energy Inc. is a Canadian public company engaged in the exploration, development and production of petroleum and natural gas in Thailand and in Türkiye. The Company is pursuing a growth-oriented strategy and intends to re-invest into its producing asset portfolio and to deploy resources toward further organic and inorganic growth in Southeast Asia. Valeura aspires toward value accretive growth for stakeholders while adhering to high standards of environmental, social and governance responsibility.

    Additional information relating to Valeura is also available on SEDAR+ at www.sedarplus.ca.

    Advisory and Caution Regarding Forward-Looking Information

    Certain information included in this news release constitutes forward-looking information under applicable securities legislation. Such forward-looking information is for the purpose of explaining management’s current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Forward-looking information typically contains statements with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “propose”, “project”, “target” or similar words suggesting future outcomes or statements regarding an outlook.

    Forward-looking information in this news release includes, but is not limited to, the Company’s anticipated full year 2025 guidance assumptions; no further cash tax payments being anticipated in 2025; timing and composition of future drilling campaigns; the effect of the Wassana redevelopment project on production, costs, and future growth of the G10/48 block; and timing for first production from the Wassana redevelopment project. Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect.

    Forward-looking information is based on management’s current expectations and assumptions regarding, among other things: political stability of the areas in which the Company is operating; continued safety of operations and ability to proceed in a timely manner; continued operations of and approvals forthcoming from governments and regulators in a manner consistent with past conduct; ability to achieve extensions to licences in Thailand and Türkiye to support attractive development and resource recovery; future drilling activity on the required/expected timelines; the prospectivity of the Company’s lands; the continued favourable pricing and operating netbacks across its business; future production rates and associated operating netbacks and cash flow; decline rates; future sources of funding; future economic conditions; the impact of inflation of future costs; future currency exchange rates; interest rates; the ability to meet drilling deadlines and fulfil commitments under licences and leases; future commodity prices; the impact of the Russian invasion of Ukraine; the impact of conflicts in the Middle East; royalty rates and taxes; management’s estimate of cumulative tax losses being correct; future capital and other expenditures; the success obtained in drilling new wells and working over existing wellbores; the performance of wells and facilities; the availability of the required capital to funds its exploration, development and other operations, and the ability of the Company to meet its commitments and financial obligations; the ability of the Company to secure adequate processing, transportation, fractionation and storage capacity on acceptable terms; the capacity and reliability of facilities; the application of regulatory requirements respecting abandonment and reclamation; the recoverability of the Company’s reserves and contingent resources; future growth; the sufficiency of budgeted capital expenditures in carrying out planned activities; the impact of increasing competition; the availability and identification of mergers and acquisition opportunities; the ability to successfully negotiate and complete any mergers and acquisition opportunities; the ability to efficiently integrate assets and employees acquired through acquisitions; global energy policies going forward; international trade policies; future debt levels; and the Company’s continued ability to obtain and retain qualified staff and equipment in a timely and cost efficient manner. In addition, the Company’s work programmes and budgets are in part based upon expected agreement among joint venture partners and associated exploration, development and marketing plans and anticipated costs and sales prices, which are subject to change based on, among other things, the actual results of drilling and related activity, availability of drilling, offshore storage and offloading facilities and other specialised oilfield equipment and service providers, changes in partners’ plans and unexpected delays and changes in market conditions. Although the Company believes the expectations and assumptions reflected in such forward-looking information are reasonable, they may prove to be incorrect.

    Forward-looking information involves significant known and unknown risks and uncertainties. Exploration, appraisal, and development of oil and natural gas reserves and resources are speculative activities and involve a degree of risk. A number of factors could cause actual results to differ materially from those anticipated by the Company including, but not limited to: the ability of management to execute its business plan or realise anticipated benefits from acquisitions; the risk of disruptions from public health emergencies and/or pandemics; competition for specialised equipment and human resources; the Company’s ability to manage growth; the Company’s ability to manage the costs related to inflation; disruption in supply chains; the risk of currency fluctuations; changes in interest rates, oil and gas prices and netbacks; the risk that the Company’s tax advisors’ and/or auditors’ assessment of the Company’s cumulative tax losses varies significantly from management’s expectations of the same; potential changes in joint venture partner strategies and participation in work programmes; uncertainty regarding the contemplated timelines and costs for work programme execution; the risks of disruption to operations and access to worksites; potential changes in laws and regulations, including international treaties and trade policies; the uncertainty regarding government and other approvals; counterparty risk; the risk that financing may not be available; risks associated with weather delays and natural disasters; and the risk associated with international activity. See the most recent annual information form and management’s discussion and analysis of the Company for a detailed discussion of the risk factors.

    Certain forward-looking information in this news release may also constitute “financial outlook” within the meaning of applicable securities legislation. Financial outlook involves statements about Valeura’s prospective financial performance or position and is based on and subject to the assumptions and risk factors described above in respect of forward-looking information generally as well as any other specific assumptions and risk factors in relation to such financial outlook noted in this news release. Such assumptions are based on management’s assessment of the relevant information currently available, and any financial outlook included in this news release is made as of the date hereof and provided for the purpose of helping readers understand Valeura’s current expectations and plans for the future. Readers are cautioned that reliance on any financial outlook may not be appropriate for other purposes or in other circumstances and that the risk factors described above or other factors may cause actual results to differ materially from any financial outlook.

    The forward-looking information contained in this news release is made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward-looking information contained in this news release is expressly qualified by this cautionary statement.

    This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, including where such offer would be unlawful. This news release is not for distribution or release, directly or indirectly, in or into the United States, Ireland, the Republic of South Africa or Japan or any other jurisdiction in which its publication or distribution would be unlawful.

    Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this news release.

    This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

    The MIL Network –

  • MIL-OSI: Epiq Bolsters its Leadership of Class Action Administration in the UK and Europe with the Acquisition of Case Pilots

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, July 08, 2025 (GLOBE NEWSWIRE) — Epiq announced today that it has acquired Case Pilots, one of the UK’s leading claims administration companies.

    Epiq is the world’s leading class actions and claims administrator and the largest in North America. The firm’s stellar reputation is evidenced through the successful management and distribution of some of the largest settlements in history. With over 30 years’ experience, clients rely on the deep bench of Epiq experts for guidance in driving cases forward and helping to deliver positive outcomes in the highest-profile and most-complex collective actions in the world.

    Epiq has been supporting Class Representatives and law firms bringing collective actions in the UK since the Consumer Rights Act was passed in 2015. In addition to building on the expertise and technology solutions delivered to clients, this acquisition expands Epiq’s offering in the market to include the administration of group litigation, reinforcing its position as a global leader in the space.

    Case Pilots employees have joined Epiq, including Co-founder and CEO Clare Ducksbury, who will now serve as Senior Vice President, Epiq Class Action Solutions Europe, and Co-founder and Chief Information Officer Clinton Smith, who will join Epiq’s product development team in a leadership role. The Case Pilots team has a solid track record of providing strategic consulting advice to law firms tackling the challenges posed by collective actions in the UK and Continental Europe.

    Nicole Hamann, President of the Class Action, Remediation, and Mass Tort business at Epiq, said, “The acquisition of Case Pilots marks a significant milestone and reinforces and expands the ability of Epiq to deliver claims management services to clients across the globe by strengthening our foothold in the UK and Europe. The excellent reputations of Clare, Clinton, and the Case Pilots team in the UK market is well-earned and we look forward to what we will accomplish together for our clients.”

    Commenting on the acquisition, Clare Ducksbury said, “We are delighted to be joining forces with Epiq, who is the global leader in this space, and we look forward to expanding the breadth of technology solutions and expertise that we can offer to our much-valued clients. Our team has a strong track record of supporting group and collective actions in the UK and Europe, and we are all very excited about what’s ahead.”

    Epiq Class Action and Claims Solutions operates globally including in the US, UK, Canada, Australia and Europe. Epiq has been ranked first among claims administrators by Institutional Shareholder Services Securities Class Action Services for the last seven years, having administered most of the largest US class actions settlements exceeding a total of $35 billion in value. Leveraging advanced technology and rigorous data security protocols, Epiq works with the Courts, settling parties and class members to efficiently and securely manage and distribute class action and mass tort settlements.

    About Epiq
    Epiq, a technology and services leader, takes on large-scale and complex tasks for corporate legal departments, law firms, and business professionals by integrating people, process, technology, and data. Clients rely on Epiq to streamline legal and compliance, settlement, and business administration workflows to drive efficiency, minimize risk, and improve cost savings. With a presence in 19 countries, our values define who we are and how we partner with clients and communities. Learn how Epiq and its 6,100 people worldwide create meaningful change at www.epiqglobal.com.

    Press Contact
    Carrie Trent
    Epiq, Senior Director of Communications and Public Relations
    Carrie.Trent@epiqglobal.com

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9540abc1-aa7c-4424-ad45-209f74f2fefc

    The MIL Network –

  • MIL-OSI: GHO Capital to acquire FotoFinder Systems

    Source: GlobeNewswire (MIL-OSI)

    GHO Capital to acquire FotoFinder Systems

    Acquisition aligns with GHO’s strategy of investing in high growth areas of the MedTech market to improve healthcare outcomes

    • FotoFinder Systems is the market leader and pioneer in dermoscopy and total body mapping, offering software/AI-enabled skin imaging devices for skin cancer detection and dermatology
    • The Company is well-positioned in a growing market driven by increasing skin cancer incidence, an ageing population, and growing awareness of preventative skin health
    • GHO is uniquely positioned to unlock FotoFinder’s next phase of growth through its transatlantic platform and operational expertise —supporting further global expansion and broader commercialisation into adjacent segments such as aesthetics

    London, UK – 8 July 2025: GHO Capital Partners LLP (“GHO”), the European specialist investor in global healthcare, today announces that it has signed an agreement to acquire a majority holding in FotoFinder Systems (“FotoFinder” or the “Company”), the global market leader in analogue & digital dermatoscopes, total body photography systems and diagnostic software & AI for skin cancer detection and dermatology, expanding its portfolio of MedTech companies innovating in high growth therapeutic areas.

    Founded in 1991 and headquartered in Bad Birnbach, Bavaria, FotoFinder is a pioneer in advanced skin imaging systems and AI-powered diagnostic software, serving clinicians across Europe, the US, and RoW via its direct sales channel and extensive distributor network. Following the acquisition of US-based DermLite in 2024 —the global leader in analogue dermatoscopes based in Aliso Viejo, California — the Company has built a unique platform spanning the full spectrum of skin imaging technologies, from handheld analogue and digital devices to software/AI solutions and fully automated total body mapping systems. FotoFinder’s strong R&D capabilities have driven decades of product innovation and market leadership, delivering best-in-class imaging quality, design, usability, and software/AI — including the first and only MDR-certified AI-assisted dermatoscope in the EU.

    Ken Eichmann and Stuart Quin, Partners at GHO Capital, commented: “We are delighted to announce the acquisition of FotoFinder, a pioneer in advanced skin imaging and AI-enabled diagnostic software. GHO identified FotoFinder through its sub-sector origination efforts and has teamed up with Munich-based EMZ Partners in a bilateral transaction to accelerate growth. FotoFinder, headquartered in Bavaria and founded by Andreas Mayer and family, recently merged with DermLite, based in California and founded by John Bottjer, Nizar Mullani and Thorsten Trotzenberg, to create the global market leader in dermoscopy devices. We are excited to partner with Andreas, John and the combined FotoFinder/DermLite team, along with our partners at EMZ, to leverage our experience of scaling international healthcare platforms.”

    Andreas Mayer, Chief Executive Officer of FotoFinder, said: “I am proud of the legacy that we have built since I founded FotoFinder together with my father over thirty years ago. Over the past three decades, we have grown into the global leader in skin-imaging solutions, which is a testament to the best-in-class quality of our offerings, our innovative AI-backed technology and our world-class R&D capabilities. GHO’s investment represents an inflexion point for the business, with its specialist healthcare industry expertise and unrivalled network, we believe GHO is the ideal partner to support the Company in unlocking this next phase of growth. We look forward to working closely with Jan and the rest of the team as we continue to develop our global expansion strategy.”

    Klaus Maurer, Senior Partner at EMZ, said: “Since our investment in FotoFinder three years ago the Company has achieved continued growth, underpinned by its expanded presence in the US market through DermLite. After extensive discussions and close alignment between GHO, FotoFinder, and EMZ on the Company’s strategic direction, we believe we have laid out the best possible foundation for its future success. With its unrivalled transatlantic expertise and extensive global network, we believe now is the optimal time for GHO to lead the charge on unlocking the synergies between FotoFinder and DermLite and accelerating the growth trajectory of the overall business.”

    Rising skin cancer incidence, an ageing population, and growing patient awareness for regular skin check-ups is driving the increased use of dermoscopy devices. With over 1.8 million new skin cancer cases diagnosed globally each year, there is a growing need for effective tools to support diagnosis and improve diagnostic workflows to support a critical shortage of dermatologists worldwide. FotoFinder’s cost-effective technology shortens diagnostic timelines, streamlines workflows, and supports better clinical decision-making—positioning the Company to meet growing global demand and improve outcomes in skin cancer detection and broader dermatological care.

    With an existing global footprint and best-in-class product portfolio, FotoFinder is strongly positioned for continued growth across global markets. GHO’s unique capabilities in scaling healthcare businesses will allow the Company to further expand its international presence, build on existing synergies between FotoFinder and DermLite to create a fully integrated global platform, continue to deliver technology innovation and accelerate expansion into adjacent markets such as aesthetics, leveraging its existing commercial infrastructure and technology.

    As part of the acquisition, GHO Operating Partner Jan De Witte will join FotoFinder’s Board of Directors as Chairman. Jan will work closely with FotoFinder’s management team to continue to deliver significant growth of the business, leveraging his experience and knowledge in the medical imaging space.

    Transaction details
    The transaction is expected to close in the coming weeks, subject to standard regulatory approvals. FotoFinder is currently majority owned by EMZ Partners. Alongside GHO’s equity commitment, EMZ Partners and management will reinvest to hold a minority position.

    Advisors
    GHO was advised by Hengeler Mueller and Choate Hall & Stewart LLP (Legal), Alvarez & Marsal (Financial & Tax), L.E.K. Consulting (Commercial), Deloitte (ESG) and Palo Alto Strategy Group (Technology).

    -Ends-

    Further information:

    GHO Capital Partners LLP

    T +44 20 3700 7440

    E IR@ghocapital.com

    About GHO Capital

    Global Healthcare Opportunities, or GHO Capital Partners LLP, is a leading specialist healthcare investment advisor based in London. We apply global capabilities and perspectives to unlock high growth healthcare opportunities, targeting Pan-European and transatlantic internationalisation to build market leading businesses of strategic global value. Our proven investment track record reflects the unrivalled depth of our industry expertise and network. We partner with strong management teams to generate long-term sustainable value, improving the efficiency of healthcare delivery to enable better, faster, more accessible healthcare. For further information, please visit www.ghocapital.com.

    About FotoFinder

    Founded in 1991 and headquartered in Bad Birnbach, Bavaria, FotoFinder is a leading manufacturer of cutting-edge skin imaging solutions. The Company provides systems that support early skin cancer detection through Automated Total Body Mapping (ATBM), Artificial Intelligence (AI), and digital dermoscopy. Since 2024, DermLite has been part of the FotoFinder Group. Established in 1999 and based in Aliso Viejo, California, DermLite revolutionized dermoscopy with polarized and hybrid handheld dermatoscopes. With subsidiaries in Italy and the U.S., and a strong global partner network, the FotoFinder Group serves healthcare professionals worldwide, empowering the dermatology community with sophisticated, intuitive solutions that integrate seamlessly into daily practice.

    The MIL Network –

  • MIL-OSI: TGS Q2 2025 Operational and Financial Update

    Source: GlobeNewswire (MIL-OSI)

    OSLO, Norway (8 July 2025) – TGS ASA (“TGS”), a leading global provider of energy data and intelligence, routinely publishes a quarterly operational update six working days after quarter-end. For Q2 2025, it also includes a financial update.

    The table below shows TGS’ normalized Ocean Bottom Node (OBN) crew count¹:  

      Q2 2025 Q2 2024
    Normalized crew count Contract1 1.7 2.7
    Normalized crew count Multi-client1 1.1 0.0

    1) The table shows the average number of crews in operation when assuming a normalized crew size.

    The table below shows TGS’ allocation of active seismic streamer 3D vessel capacity2:

      Q2 2025 Q2 2024
    Contract 55% 28%
    Multi-client 23% 36%
    Steaming 9% 14%
    Yard 7% 6%
    Stacked/Standby 6% 16%
    Number of vessels 6 6

    2) The statistics include only active seismic 3D streamer vessels (capacity working on New Energy Solutions projects are excluded).

    Based on preliminary reporting from operating units, management of TGS expects IFRS revenues to be approximately USD 332 million in Q2 2025, compared to USD 224 million in Q2 2024 (USD 353 million proforma⁴ in Q2 2024).

    Produced revenues³ are expected to be approximately USD 306 million in Q2 2025, compared to USD 215 million in Q2 2024 (USD 381 million proforma⁴ in Q2 2024).

    Produced multi-client revenues are estimated to be approximately USD 135 million in Q2 2025, compared to USD 115 million in Q2 2024 (USD 194 million proforma⁴ in Q2 2024). Multi-client investment is expected to be approximately USD 120 million in Q2 2025, compared to USD 52 million in Q2 2024 (USD 92 million proforma⁴ in Q2 2024).

    Contract revenues amounted to approximately USD 171 million in Q2 2025, compared to USD 100 million in Q2 2024 (USD 187 million proforma⁴ in Q2 2024).  

    Kristian Johansen, CEO of TGS commented: “After several strong quarters, Q2 came in below expectations mainly due to three main factors. First, the end-of-quarter data licensing came in below internal forecasts, with several data licensing deals being postponed. Second, we encountered challenging operational conditions and stand-by time on one of our streamer projects, negatively impacting revenue recognition. Third, lower-than-expected JV-partner participation on certain multi-client projects resulted in recognition of higher multi-client investments and lower contract revenues. Discussions with our clients support our view that exploration activity will gradually increase from today’s levels. The successful offshore licensing round in Brazil and the recent announcement of a lease sale in the US Gulf of America are both positive drivers in facilitating more seismic activity in two of our key markets.”

    TGS will release its Q2 2025 results at 07:00 a.m. CEST on 17 July 2025. CEO Kristian Johansen and CFO Sven Børre Larsen will present the results at 09:00 a.m. CEST, webcasted live.

    The webcast can be followed live via this link:

    https://channel.royalcast.com/landingpage/hegnarmedia/20250717_2/

    ³For the purpose of Produced revenues, multi-client revenues committed prior to completion of projects are recognized on a percentage of completion basis. This differs from IFRS reporting, where revenues committed prior to completion are recognized when the customers receive access to the finished data.

    Adjustments between preliminary IFRS and Produced revenue numbers for Q2 2025: Preliminary reported IFRS revenue: USD 332 million

    – Revenue recognized from performance obligations met during Q2 for completed projects: USD 95 million

    + Revenue recognized under Produced during Q2: USD 69 million

    = Preliminary reported Produced revenue: USD 306 million

    ⁴Proforma considers TGS acquisition of PGS, which was completed 1 July 2024.

    For more information, visit TGS.com (http://www.tgs.com) or contact:

    Bård Stenberg, VP IR & Communication

    Tel.: +47 992 45 235

    E-mail: investor@tgs.com

    About TGS

    TGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit www.tgs.com (https://www.tgs.com/).

    Forward Looking Statement

    All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict and are based upon assumptions as to future events that may not prove accurate. These factors include volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. Actual results may differ materially from those expected or projected in the forward- looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

    The MIL Network –

  • MIL-OSI: TGS Q2 2025 Operational and Financial Update

    Source: GlobeNewswire (MIL-OSI)

    OSLO, Norway (8 July 2025) – TGS ASA (“TGS”), a leading global provider of energy data and intelligence, routinely publishes a quarterly operational update six working days after quarter-end. For Q2 2025, it also includes a financial update.

    The table below shows TGS’ normalized Ocean Bottom Node (OBN) crew count¹:  

      Q2 2025 Q2 2024
    Normalized crew count Contract1 1.7 2.7
    Normalized crew count Multi-client1 1.1 0.0

    1) The table shows the average number of crews in operation when assuming a normalized crew size.

    The table below shows TGS’ allocation of active seismic streamer 3D vessel capacity2:

      Q2 2025 Q2 2024
    Contract 55% 28%
    Multi-client 23% 36%
    Steaming 9% 14%
    Yard 7% 6%
    Stacked/Standby 6% 16%
    Number of vessels 6 6

    2) The statistics include only active seismic 3D streamer vessels (capacity working on New Energy Solutions projects are excluded).

    Based on preliminary reporting from operating units, management of TGS expects IFRS revenues to be approximately USD 332 million in Q2 2025, compared to USD 224 million in Q2 2024 (USD 353 million proforma⁴ in Q2 2024).

    Produced revenues³ are expected to be approximately USD 306 million in Q2 2025, compared to USD 215 million in Q2 2024 (USD 381 million proforma⁴ in Q2 2024).

    Produced multi-client revenues are estimated to be approximately USD 135 million in Q2 2025, compared to USD 115 million in Q2 2024 (USD 194 million proforma⁴ in Q2 2024). Multi-client investment is expected to be approximately USD 120 million in Q2 2025, compared to USD 52 million in Q2 2024 (USD 92 million proforma⁴ in Q2 2024).

    Contract revenues amounted to approximately USD 171 million in Q2 2025, compared to USD 100 million in Q2 2024 (USD 187 million proforma⁴ in Q2 2024).  

    Kristian Johansen, CEO of TGS commented: “After several strong quarters, Q2 came in below expectations mainly due to three main factors. First, the end-of-quarter data licensing came in below internal forecasts, with several data licensing deals being postponed. Second, we encountered challenging operational conditions and stand-by time on one of our streamer projects, negatively impacting revenue recognition. Third, lower-than-expected JV-partner participation on certain multi-client projects resulted in recognition of higher multi-client investments and lower contract revenues. Discussions with our clients support our view that exploration activity will gradually increase from today’s levels. The successful offshore licensing round in Brazil and the recent announcement of a lease sale in the US Gulf of America are both positive drivers in facilitating more seismic activity in two of our key markets.”

    TGS will release its Q2 2025 results at 07:00 a.m. CEST on 17 July 2025. CEO Kristian Johansen and CFO Sven Børre Larsen will present the results at 09:00 a.m. CEST, webcasted live.

    The webcast can be followed live via this link:

    https://channel.royalcast.com/landingpage/hegnarmedia/20250717_2/

    ³For the purpose of Produced revenues, multi-client revenues committed prior to completion of projects are recognized on a percentage of completion basis. This differs from IFRS reporting, where revenues committed prior to completion are recognized when the customers receive access to the finished data.

    Adjustments between preliminary IFRS and Produced revenue numbers for Q2 2025: Preliminary reported IFRS revenue: USD 332 million

    – Revenue recognized from performance obligations met during Q2 for completed projects: USD 95 million

    + Revenue recognized under Produced during Q2: USD 69 million

    = Preliminary reported Produced revenue: USD 306 million

    ⁴Proforma considers TGS acquisition of PGS, which was completed 1 July 2024.

    For more information, visit TGS.com (http://www.tgs.com) or contact:

    Bård Stenberg, VP IR & Communication

    Tel.: +47 992 45 235

    E-mail: investor@tgs.com

    About TGS

    TGS provides advanced data and intelligence to companies active in the energy sector. With leading-edge technology and solutions spanning the entire energy value chain, TGS offers a comprehensive range of insights to help clients make better decisions. Our broad range of products and advanced data technologies, coupled with a global, extensive and diverse energy data library, make TGS a trusted partner in supporting the exploration and production of energy resources worldwide. For further information, please visit www.tgs.com (https://www.tgs.com/).

    Forward Looking Statement

    All statements in this press release other than statements of historical fact are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that are difficult to predict and are based upon assumptions as to future events that may not prove accurate. These factors include volatile market conditions, investment opportunities in new and existing markets, demand for licensing of data within the energy industry, operational challenges, and reliance on a cyclical industry and principal customers. Actual results may differ materially from those expected or projected in the forward- looking statements. TGS undertakes no responsibility or obligation to update or alter forward-looking statements for any reason.

    The MIL Network –

  • MIL-OSI Australia: Division 7A – benchmark interest rate

    Source: New places to play in Gungahlin

    Benchmark interest rates

    Under Division 7A of Part III of the Income Tax Assessment Act 1936, the ‘benchmark interest rate’ for an income year is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’. This is the ‘Housing loans; Banks; Variable; Standard; Owner-occupier’ rate last published by the Reserve Bank of AustraliaExternal Link before the start of the income year. The benchmark interest rate for an income year does not change if the Reserve Bank of Australia later revises its published rate after the start of the income year.

    Current and past benchmark interest rates

    These rates apply to private companies with an income year ending 30 June.

    A private company that meets certain requirements may adopt an income year ending on a date other than 30 June – a substituted accounting period. Those companies will need to determine the relevant rate.

    Benchmark interest rates – 2021 to 2026 income years

    Income year ended 30 June

    Rate

    ATO reference

    2026

    8.37%

    This is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’ published by the Reserve Bank of Australia on 6 June 2025.

    2025

    8.77%

    This is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’ published by the Reserve Bank of Australia on 7 June 2024.

    2024

    8.27%

    This is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’ published by the Reserve Bank of Australia on 7 June 2023.

    2023

    4.77%

    This is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’ published by the Reserve Bank of Australia on 2 June 2022.

    2022

    4.52%

    This is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’ published by the Reserve Bank of Australia on 2 June 2021.

    2021

    4.52%

    This is the ‘Indicator Lending Rates – Bank variable housing loans interest rate’ published by the Reserve Bank of Australia on 2 June 2020.

    Substituted accounting period

    If a private company has adopted a substituted accounting period, the applicable benchmark interest rate is the ‘Housing loans; Banks; Variable; Standard; Owner-occupier’ rate last published by the Reserve Bank of AustraliaExternal Link before the start of the private company’s substituted accounting period.

    Example 1: substituted accounting period starting on 1 November 2022

    Company ABC has a substituted accounting period starting on 1 November 2022. According to the Reserve Bank of Australia website, the last interest rate published before 1 November 2022 was 6.77%. This was the rate for September 2022, published in October 2022. The benchmark interest rate for Company ABC’s income year starting 1 November 2022 is 6.77%.

    End of example

    Example 2: substituted accounting period starting on 1 May 2023

    Company XYZ has a substituted accounting period starting on 1 May 2023. According to the Reserve Bank of Australia website, the last interest rate published before 1 May 2023 was 8.02%. This was the rate for March 2023, published in April 2023. The benchmark interest rate for Company XYZ’s income year starting 1 May 2023 is 8.02%.

    End of example

    Access the Division 7A calculator and decision tool.

    This tool will help you determine the effects and your obligations on Division 7A – Loans by private companies.

    MIL OSI News –

  • MIL-OSI Australia: PRRT augmentation and gross domestic product factor rates

    Source: New places to play in Gungahlin

    For information about the different classes of deductible expenditure and which uplift rates to use for each class of deductible expenditure, refer to PRRT deductible expenditure.

    Table: Petroleum resource rent tax (PRRT) augmentation and gross domestic product (GDP) factor rates

    Year

    Long term bond rate (LTBR) expressed as a %

    LTBR + 5%

    LTBR + 15%

    Gross domestic product (GDP) factor rate*

    2024

    4.25

    9.25

    N/A

    1.027

    2023

    3.61

    8.61

    N/A

    1.061

    2022

    2.11

    7.11

    N/A

    1.069

    2021

    1.18

    6.18

    N/A

    1.027

    2020

    1.03

    6.03

    N/A

    1.019

    2019

    2.25

    7.25

    17.25

    1.032

    2018

    2.70

    7.70

    17.70

    1.017

    2017

    2.42

    7.42

    17.42

    1.039

    2016

    2.61

    7.61

    17.61

    0.997

    2015

    3.00

    8.00

    18.00

    0.997

    2014

    3.98

    8.98

    18.98

    1.015

    2013

    3.24

    8.24

    18.24

    0.997

    2012

    4.01

    9.01

    19.01

    1.016

    2011

    5.31

    10.31

    20.31

    1.063

    2010

    5.50

    10.50

    20.50

    1.013

    2009

    4.95

    9.95

    19.95

    1.051

    2008

    6.18

    11.18

    21.18

    1.042

    2007

    5.82

    10.82

    20.82

    1.046

    2006

    5.40

    10.40

    20.40

    1.050

    2005

    5.42

    10.42

    20.42

    1.040

    2004

    5.68

    10.68

    20.68

    1.035

    2003

    5.34

    10.34

    20.34

    1.028

    2002

    5.88

    10.88

    20.88

    1.026

    2001

    5.82

    10.82

    20.82

    1.045

    2000

    6.51

    11.51

    21.51

    1.017

    1999

    5.45

    10.45

    20.45

    1.004

    1998

    5.98

    10.98

    20.98

    1.018

    1997

    7.63

    12.63

    22.63

    1.015

    1996

    8.67

    13.67

    23.67

    1.029

    1995

    9.85

    14.85

    24.85

    1.021

    1994

    7.39

    12.39

    22.39

    1.015

    1993

    8.35

    13.35

    23.35

    1.010

    1992

    9.87

    14.87

    24.87

    1.014

    1991

    12.11

    17.11

    27.11

    1.030

    1990

    13.31

    28.31

    28.31

    1.058

    1989

    12.86

    27.86

    27.86

    1.093

    1988

    12.55

    27.55

    27.55

    1.084

    1987

    13.57

    28.57

    28.57

    1.083

    1986

    13.65

    28.65

    28.65

    1.068

    1985

    13.41

    28.41

    28.41

    1.065

    1984

    12.72

    27.72

    27.72

    1.071

    1983

    14.43

    29.43

    29.43

    1.111

    1982

    15.48

    30.48

    30.48

    1.103

    1981

    12.58

    27.58

    27.58

    1.108

    1980

    10.66

    25.66

    25.66

    1.104

    Note

    * The GDP factor rate is based on the annual change to the gross domestic product (GDP) implicit price deflator index as first published by the Australian Bureau of Statistics (ABS).

    This ABS publication 5206.0 – Australian National Accounts: National Income, Expenditure and ProductExternal Link is updated quarterly.

    For additional legislative information on the GDP factor rate calculation methodology and/or augmented bond rate, see the Petroleum Resource Rent Tax Assessment Act 1987:

    MIL OSI News –

  • MIL-OSI New Zealand: Stats NZ information release: Tatauranga umanga Māori – Statistics on Māori businesses: March 2025 quarter

    Tatauranga umanga Māori – Statistics on Māori businesses: March 2025 quarter – information release

    8 July 2025

    Tatauranga umanga Māori – Statistics on Māori businesses: March 2025 quarter presents information on one subset of Māori businesses that contribute to our country’s economy. This release includes data on Māori authorities and related businesses. It does not cover all Māori businesses in Aotearoa New Zealand.

    Māori authorities are defined as businesses that receive, manage, and/or administer assets held in common ownership by iwi and Māori. Māori authorities are largely identified through their tax codes as registered with Inland Revenue. Any business within a Māori authority ownership group is also included for the purposes of Tatauranga umanga Māori.

    Key facts

    In the March 2025 quarter, around 1,450 Māori authorities and related businesses were in the Tatauranga umanga Māori population.

    All figures are actual values and are not adjusted for seasonal effects.

    In the March 2025 quarter compared with the March 2024 quarter:

    • the total value of sales by Māori authorities was $1,078 million, down $0.6 million (0.1 percent)
    • the total value of purchases by Māori authorities was $742 million, down $18.9 million (2.5 percent)
    • the total number of filled jobs for Māori authorities was 11,870, down 170 jobs (1.4 percent)
    • the total value of earnings by employees of Māori authorities was $212 million, down $8.7 million (4.0 percent)
    • Māori authorities exported $219 million worth of goods, up $10 million (4.9 percent).

    Visit our website to read this information release and to download CSV files:

    MIL OSI New Zealand News –

  • MIL-OSI USA: FAA Awards $4.4 Million for Projects at North Dakota Airports

    US Senate News:

    Source: United States Senator Kevin Cramer (R-ND)

    BISMARCK, N.D. – The U.S. Department of Transportation (DOT) Federal Aviation Administration (FAA) announced an award of $4,487,203 through the Airport Improvement Program (AIP) for projects at several airports across North Dakota. The funding will be distributed to the following:

    • $1,024,246 to the City of Williston for replacing existing snow removal equipment, including multi-tasking equipment.
    • $602,865 to the City of Minot for realigning existing Taxiway B by eight degrees to enhance safety, reconstructing existing Runway 8/26 lighting, and rehabilitating 6,348 of existing paved Runway 8/26 to maintain the structural integrity and minimize foreign object debris.
    • $600,000 to the Standing Rock Sioux Tribe for rehabilitating 3,700 feet of existing paved Runway 14/32 to maintain the structural integrity and minimize foreign object debris.
    • $355,084 to the Washburn Municipal Airport Authority to extend existing Taxiway A by an additional 300 feet to bring the airport into conformity with current standards.
    • $300,000 to the Cando Municipal Airport Authority to reseal 3,500 feet of existing Runway 16/34 pavement and joints at a nonprimary airport.
    • $287,375 to the Bowman County Airport Authority to update the existing airport layout plan with a master plan narrative.
    • $285,044 to the Stanley Municipal Airport Authority for expanding the West Apron by adding 1,632 square yards to bring the airport into conformity with current standards. This grant funds the second phase, which constructs 854 square yards.
    • $275,000 to the Oakes Municipal Airport Authority for resealing 6,000 square yards of existing general aviation Apron pavement, resealing 210 feet of existing Hangar Taxilane pavement, resealing 1,000 feet of existing Taxiway B pavement and joints, resealing 540 feet of existing Taxiway A pavement and joints, and resealing 3,500 feet of existing Runway 12/30 pavement.
    • $208,500 to the Jamestown Regional Airport Authority for resealing 1,706 feet of existing Taxiway E pavement, resealing 4,368 feet of existing Taxiway D and connector pavement and joints, resealing 3,815 feet of existing Taxiway A and connectors pavement and joints, resealing 6,900 feet of existing Runway 13/31 pavement and joints, resealing 5,650 feet of existing Runway 4/22 pavement, and resealing 3,716 feet of existing Taxiway B pavement and joints.
    • $200,000 to the Rugby Municipal Airport Authority for resealing 3,600 feet of existing Runway 12/30 pavement and joints, resealing 550 feet of existing Taxilane South pavement, rehabilitating 7,300 square yards of existing Center Apron pavement to maintain the structural integrity of the pavement and to minimize foreign object debris, and resealing 720 feet of existing Taxiway A pavement and joints.
    • $151,489 to the Rolla Municipal Airport Authority for replacing the existing Wind Cone, replacing one existing airport rotating beacon, reconstructing the precision approach path indicator system for Runway 14/32 at both Runway thresholds, reconstructing existing Runway 14/32 lighting and signage, and reconstructing existing Taxiway A lighting.
    • $99,750 to the Barnes County Municipal Airport Authority for the design phase of resealing 16,082 square yards of existing General Aviation Apron pavement and joints, resealing 360 feet of existing Taxiway A pavement, and resealing 2,011 feet of existing Hangar Taxilane pavement.
    • $97,850 to the Northwood Municipal Airport Authority for constructing a new 5,184 square foot sponsor-owned hangar for aircraft storage and maintenance to assist the airport to be as self-sustaining as possible. This grant funds phase 1, which consists of design.

    The FAA AIP provides funding to airports nationwide for planning, capital, and safety enhancement projects.

    MIL OSI USA News –

  • Djokovic grinds past De Minaur to reach Wimbledon quarter-finals

    Source: Government of India

    Source: Government of India (4)

    Novak Djokovic reached the Wimbledon quarter-finals for the 16th time but it proved a hard day’s work at his Centre Court office as he ground past Australian Alex de Minaur on Monday.

    The 38-year-old started abysmally and lost the opening set in 31 minutes but eventually assumed control of a cagey battle to win 1-6 6-4 6-4 6-4 to keep alive his quest for an unprecedented 25th Grand Slam title.

    With Roger Federer watching from the front row of the Royal Box, the player whose record eight men’s titles Djokovic is trying to equal, the sixth seed’s usually surgical game malfunctioned early on as he dropped serve three times.

    The hustling and bustling De Minaur continued to cause Djokovic headaches with his shot-placement and movement but the Serb found his range to win the next two sets full of attritional baseline rallies.

    Even then Djokovic looked like getting dragged into a fifth set as De Minaur jumped 4-1 ahead in the fourth and had a point for a 5-1 lead, but he slammed the door shut just in time, winning five games in a row to take his place in the last eight where he will face Italian 22nd seed Flavio Cabolli.

    “I don’t know how I’m feeling to be honest. I’m still trying to process the whole match and what happened on the court. It wasn’t a great start for me, it was a great start for Alex,” a weary Djokovic said on court.

    “He was just managing the play better from the back of the court and I didn’t have many solutions. I was very pleased to hang tough in the right moments and win this one.”

    Djokovic has now won 43 of his last 45 matches at Wimbledon and not since 2017 has he failed to reach the final.

    The two losses were against Carlos Alcaraz in the last two finals, but for half an hour on Monday it looked as though Old Father Time might finally be catching up with him.

    FIRST MEETING

    Djokovic had never met the man nicknamed ‘Demon’ on a grass court after last year’s quarter-final between them never happened when the Australian withdrew with a hip injury.

    He predicted beforehand that the 26-year-old would be a handful on the surface and he was proved right.

    With a relaxed Federer watching in an immaculate blue suit and shades, Djokovic‘s game crumbled into a heap of double-faults, errant forehands and clumsy footwork.

    “Sometimes I wish I had a serve and volley, and a nice touch from the gentleman that’s there. That would help,” Djokovic said of his old rival after sealing his 101st Wimbledon win in a grinding three hours and 19 minutes.

    “It’s probably the first time he sees me and I win. The last two I lost. It’s good to break the curse.”

    De Minaur’s game plan seemed to be to drag Djokovic into cat and mouse rallies and initially it worked.

    But Djokovic rebooted his computer-like brain and chipped away at the Australian who must have believed he could snap his 10-match losing streak against top-10 players.

    Djokovic won a 34-stroke rally early in the second set but with service breaks being traded like a plummeting stock and Federer heading off for afternoon tea he simply could not shake off the tenacious De Minaur.

    Serving at 5-4, Djokovic had to save two break points before levelling the match. He looked more like his dominant best to control the third set and having not lost a two sets to one lead since 2010 it seemed like victory was a formality.

    There was another twist though and it was a mightily relieved Djokovic who closed out the win.

    -Reuters