NewzIntel.com

Category: Taxation

  • MIL-OSI USA: Grothman and Cruz Introduce Bicameral CREATE JOBS Act

    Source: United States House of Representatives – Congressman Glenn Grothman (R-Glenbeulah 6th District Wisconsin)

    Congressman Glenn Grothman (R-WI) joins Senator Ted Cruz (R-TX) in introducing the CREATE JOBS Act, a bicameral bill which will restore key pro-manufacturing provisions of the Tax Cuts and Jobs Act (TCJA), incentivizing domestic production and creating over one million full-time jobs for hardworking Americans.
    The CREATE JOBS Act would reinstate and make permanent two expired TCJA provisions that were vital in driving manufacturing growth and attracting investment back to the U.S. In addition, the bill applies neutral cost recovery for structures, such as factories. Taken together, these provisions will bolster manufacturing, raise wages, and create good-paying jobs.
    “The Tax Cuts and Jobs Act (TCJA) delivered major wins for American families and workers, but some of its most powerful tools for growth have already expired, hurting the competitiveness of the manufacturing industry,” said Grothman. “Wisconsin’s Sixth District is the most manufacturing intensive district in the country, so I’ve seen directly how this affects the hardworking men and women at home.
    “The bottom line is we must make these provisions permanent to support our manufacturers, restore what we know works, and expand policies that strengthen our economy and create jobs across the nation. After our workforce has suffered through inflation and economic turmoil over the past four years, I’m proud to join Senator Ted Cruz in introducing the CREATE JOBS Act to invest in American workers and grow our industrial base.”

    “As Congress considers extending immediate deductions for research and equipment, it’s long past time to give structures similar treatment. The 2017 tax cuts were a leap forward for investment, but they left buildings behind. By fixing that omission, the CREATE JOBS Act levels the playing field for all types of investment and unlocks capital for American manufacturing. Updating cost recovery for all investments is the single most pro-manufacturing, pro-growth reform Congress could include in reconciliation,” said Adam Michel, Director of Tax Policy Studies at the Cato Institute.

     

    “WMC thanks Rep. Grothman for his leadership making the Wisconsin and American economies pro-business.  One-hundred percent bonus deprecation and full-expensing of R&D costs were boons for economic growth across Wisconsin and the country following the passage of the 2017 Tax Cuts and Jobs Act.   Making these provisions permanent will provide predictability for business investments, make America more attractive for growth, and ultimately strengthen our economy.  The CREATE JOBS Act is common-sense policy that is positively pro-business and promotes job creation right here in Wisconsin and across America,” said Kurt Bauer, President & CEO at Wisconsin Manufacturers & Commerce (WMC).

     

    Background Information

     

    The CREATE JOBS Act would make permanent two key pro-manufacturing provisions of the TCJA and create further incentives to produce domestically.

    Specifically, the bill would make the bonus-depreciation and full-expensing for research and development (R&D) provisions of the TCJA permanent and apply neutral cost recovery to rental units and commercial structures, like factories.

    According to the Tax Foundation, these provisions would increase long-run GDP by 5.1 percent, increase wages by 4.3 percent, and create over one million full-time jobs for American workers.

    Senator Ted Cruz previously introduced this bill in 2020, 2021, and 2023.

    U.S. Rep. Glenn Grothman (R-Glenbeulah) is serving his fifth term representing Wisconsin’s 6th Congressional District in the U.S. House of Representatives. 

    MIL OSI USA News –

  • MIL-OSI USA: Business Owner Sentenced After Receiving More than $1.6 Million in Funds from the CARES Act

    Source: United States Small Business Administration

    Click Here to View the Original U.S. Department of Justice (DOJ) Press Release

    A former Oklahoma man with business ties in Florida was sentenced today after pleading guilty to four counts of bank fraud, announced U.S. Attorney Clint Johnson.

    U.S. District Judge Sara E. Hill sentenced Shawn Ray Murnan, 57, of Windemere, Florida, to 33 months imprisonment, followed by five years of supervised release. Judge Hill further ordered Murnan to pay $1,641,796.47 in restitution to the U.S. Small Business Administration (SBA).

    “In 2020, the CARES Act funding was established to provide emergency financial assistance to help businesses that were disrupted,” said U.S. Attorney Clint Johnson. “Investigators and prosecutors are committed to finding those like Murnan who steal government funding and prosecuting them to the fullest extent of the law.”

    From April 2020 through October 2021, Murnan admitted to falsifying several CARES Act applications to the SBA. Murnan was the owner of numerous business ventures in Oklahoma, Florida, and other states. He submitted 14 applications on behalf of his businesses, including Blujett, LLC, which was based in Broken Arrow. He submitted applications claiming to have several employees and falsified his payroll expenses. Murnan requested more than two million and successfully received $1,641,796.47 from seven Paycheck Protection Program loans and two Economic Injury Disaster Loans. After receiving the funds, Murnan applied for the loans to be forgiven.

    Previously released on bond, Murnan was taken into custody following the sentencing today, where he will remain pending transfer to the U.S. Bureau of Prisons.

    The Office of Inspector General for the Board of Governors of the Federal Reserve System and Consumer Financial Protection Bureau, the Office of Inspector General for the Small Business Administration, and the U.S. Treasury Inspector General for Tax Administration investigated the case. Assistant U.S. Attorney David Whipple prosecuted the case.

    The Fraud Section leads the Criminal Division’s prosecution of fraud schemes that exploit the Paycheck Protection Program (PPP). Since the inception of the CARES Act, the Fraud Section has prosecuted over 150 defendants in more than 95 criminal cases and has seized over $75 million in cash proceeds derived from fraudulently obtained PPP funds, as well as numerous real estate properties and luxury items purchased with such proceeds. More information can be found at Justice.gov/OPA/pr/justice-department-takes-action-against-covid-19-fraud.

    Related programs: COVID EIDL, Disaster, Pandemic Oversight, PPP

    MIL OSI USA News –

  • MIL-OSI: Document Crunch Named to Inc.’s 2025 Best Workplaces List While Rapidly Expanding Headcount and Leadership

    Source: GlobeNewswire (MIL-OSI)

    ATLANTA, June 17, 2025 (GLOBE NEWSWIRE) — Document Crunch, the leading AI risk reduction platform for construction, has proudly earned a spot on Inc.’s 2025 Best Workplaces list, a prestigious honor awarded to companies with exceptional employee engagement, values-driven leadership, and thriving team cultures. This year’s list is the result of a comprehensive evaluation of American companies that excel in building exceptional workplaces and vibrant cultures to empower and support their people.

    “Our people power our success, so building and maintaining culture is the most important thing we do. Even through an incredible period of growth, we’ve been intentional about creating a workplace where people feel purpose, trust, and empowerment,” said Josh Levy, Co-Founder and CEO of Document Crunch. “Being named one of Inc.’s Best Workplaces validates our approach and our core values of being lionhearted, fiercely inspired, and growth-minded. These values and our investment in people are what allow us to continue to thrive.”

    The recognition comes at a time of continued exponential growth for Document Crunch. With headquarters in Atlanta, GA, and a hub in Austin, TX, Document Crunch has scaled its full-time employee count from 35 to 91 in the last 18 months while revenue has quadrupled. Over this same period of time, including its Series B in October 2024, Document Crunch made further investments in expanding its leadership team, adding additional functional leaders with extraordinary experience in scaling high performing teams. Additions to the team include:

    • Lee Harris, VP of Engineering, who brings deep experience in productizing cutting-edge AI technology within hyper-growth environments. He previously held VP of Engineering roles at Rev and Cart.com.
    • Chris Parish, VP of Revenue, who brings extensive sales leadership experience from Autodesk and PlanGrid, and specializes in building high-performing sales teams and creating scalable, repeatable processes to consistently drive revenue growth.
    • Will Magnuson, Senior Director of Sales—East, who brings extensive experience in accelerating sales teams and driving revenue growth from his time at TigerEye (CRO), PlanGrid, and Autodesk.
    • Tom Dixon, Director of Sales—West, who brings industry knowledge from his years in operations at McCarthy Building Companies, followed by building championship sales teams with proven track records at PlanGrid and Autodesk.
    • Kathryn Pribish, Senior Director of Product Marketing, who joins Document Crunch to lead positioning and go-to-market strategy, bringing proven impact at Spiceworks and as a strategic consultant to a ConTech startup.
    • Colleen Konetzke, Chief of Staff, who was formerly with Ironspring Ventures, one of Document Crunch’s seed investors, and joins Document Crunch to support executive strategy and operational alignment.
    • Sue Joyce, VP of People, who will guide Document Crunch’s next chapter of culture and talent development and previously held senior leadership roles at Terminus and Clearleap, acquired by IBM Cloud Video.

    These investments in additional leadership allow Document Crunch to maintain its exceptional culture through increased growth. The company also recently ranked No. 12 on the “Inc. Regionals: Southeast” list of fastest-growing private companies.

    The award process for Inc.’s 2025 Best Workplaces involved a detailed employee survey, conducted by Quantum Workplace, measuring key areas such as management effectiveness, professional development, benefits, perks, and overall engagement. Document Crunch is among just 514 companies named to the list this year. To view the full list of 2025 Inc. Best Workplaces, visit Inc.com.

    To learn more about Document Crunch and open positions, visit documentcrunch.com/careers.

    About Document Crunch
    Document Crunch is the construction industry’s leading AI risk reduction platform, transforming how teams manage risk from bid to closeout. Recognized with a 2024 AI Breakthrough Award and powered by CrunchAI, Document Crunch helps project teams review documents in seconds, guide decisions with built-in best practices, and assist with on-the-job questions and tasks. To learn more, visit documentcrunch.com.

    About Inc.
    Inc. is the leading media brand and playbook for the entrepreneurs and business leaders shaping our future. Through its journalism, Inc. aims to inform, educate, and elevate the profile of its community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating the future of business. Inc. is published by Mansueto Ventures LLC, along with fellow leading business publication Fast Company. For more information, visit www.inc.com.

    For media queries, please contact:

    Press contact:
    Girish Jaggi
    The MicDrop Agency
    girish@themicdropagency.com
    +1 (289) 623 3627

    The MIL Network –

  • MIL-OSI USA: Oregon Business Owner Pleads Guilty to Employment Tax Crimes

    Source: US State of Vermont

    An Oregon business owner pleaded guilty yesterday to not paying over employment taxes to the IRS.

    According to court documents and statements made in court, Joyce Leard owned and operated Mr. Tree Inc., a Happy Valley-based company that provided tree removal and landscaping services to customers. Mr. Tree advertised itself as being in business for thirty years, and the company employed approximately 50 to 75 employees each year. From 2017 through 2024, Leard also owned and operated Wall 2 Wall Hardwood Floors Inc, another Happy Valley-based company.

    Leard was responsible for withholding Social Security, Medicare and federal income taxes from the wages of her employees and then paying those funds over to the IRS each quarter. The timely payment of these taxes is critical to the functioning of the U.S. government, because, for example, they are the primary source of funding for Social Security and Medicare. The federal income taxes that are withheld from employees’ wages also account for a significant portion of all federal income taxes collected each year.

    From the fourth quarter of 2018 through the fourth quarter of 2020, Leard collected and withheld taxes from her employees’ wages but did not pay the funds over to the IRS or file quarterly payroll tax returns as required by law. Instead of paying over these payroll taxes, Leard used funds in her business bank account to purchase approximately $3.5 million of real estate, which was titled in her name.

    In total, Leard caused a tax loss to the United States of more than $1.5 million.

    Leard is scheduled to be sentenced on Oct. 6. She faces a maximum penalty of five years in prison as well as a period of supervised release, restitution, and monetary penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division made the announcement.

    IRS Criminal Investigation is investigating the case.

    Trial Attorneys J. Parker Gochenour and Megan E. Wessel of the Tax Division are prosecuting the case.

    MIL OSI USA News –

  • MIL-OSI Security: Oregon Business Owner Pleads Guilty to Employment Tax Crimes

    Source: United States Attorneys General

    An Oregon business owner pleaded guilty yesterday to not paying over employment taxes to the IRS.

    According to court documents and statements made in court, Joyce Leard owned and operated Mr. Tree Inc., a Happy Valley-based company that provided tree removal and landscaping services to customers. Mr. Tree advertised itself as being in business for thirty years, and the company employed approximately 50 to 75 employees each year. From 2017 through 2024, Leard also owned and operated Wall 2 Wall Hardwood Floors Inc, another Happy Valley-based company.

    Leard was responsible for withholding Social Security, Medicare and federal income taxes from the wages of her employees and then paying those funds over to the IRS each quarter. The timely payment of these taxes is critical to the functioning of the U.S. government, because, for example, they are the primary source of funding for Social Security and Medicare. The federal income taxes that are withheld from employees’ wages also account for a significant portion of all federal income taxes collected each year.

    From the fourth quarter of 2018 through the fourth quarter of 2020, Leard collected and withheld taxes from her employees’ wages but did not pay the funds over to the IRS or file quarterly payroll tax returns as required by law. Instead of paying over these payroll taxes, Leard used funds in her business bank account to purchase approximately $3.5 million of real estate, which was titled in her name.

    In total, Leard caused a tax loss to the United States of more than $1.5 million.

    Leard is scheduled to be sentenced on Oct. 6. She faces a maximum penalty of five years in prison as well as a period of supervised release, restitution, and monetary penalties. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

    Acting Deputy Assistant Attorney General Karen E. Kelly of the Justice Department’s Tax Division made the announcement.

    IRS Criminal Investigation is investigating the case.

    Trial Attorneys J. Parker Gochenour and Megan E. Wessel of the Tax Division are prosecuting the case.

    MIL Security OSI –

  • MIL-OSI Africa: South Africa Accelerates Drive to Expand Intra-African Trade through African Continental Free Trade Area (AfCFTA)

    South Africa has reaffirmed its commitment to harnessing the African Continental Free Trade Area (AfCFTA) to unlock new growth opportunities for local businesses and strengthen regional integration. Opening the IATF2025 South Africa Business Roadshow in Johannesburg, Mr. Humphrey Nwugo, Regional Director (Southern Africa) at Afreximbank (https://www.Afreximbank.com/), emphasised the urgency of mobilising concrete action. “This is the time to ensure that South Africa’s public and private sectors are not only present but strategically positioned to seize the immense opportunities that IATF2025 will present.”  

    Mr. Nwugo underscored South Africa’s pivotal role in the continent’s integration journey, citing its strong economic foundations, entrepreneurial energy, and institutional capacity – well positioned to integrate into African value chains. 

    “We are here to invite South Africa to lead. We want to see the country’s private sector on full display in Algiers,” he added. The Intra-African Trade Fair (IATF2025), set to take place in Algiers from 4–10 September 2025, is poised to be a landmark market event and gateway to unprecedented trade and investment prospects across Africa. 

    E. Wamkele Mene, Secretary General of the AfCFTA Secretariat, highlighted the critical importance of IATF2025, taking place amid global instability, climate change, and shifting trade dynamics. 

    “Despite these headwinds, Africa has the capacity to navigate the challenges, accelerate industrial development, and realise the vision of a fully integrated continent,” he said. 

    He stressed the urgency of building regional value chains in sectors like automotive and agribusiness, which offer vast potential for inclusive growth. Strengthening these interconnected ecosystems will support technology transfer, diversify intra-African trade, and create new opportunities for small and medium enterprises across the continent. 

    Speaking at the event, the Honourable Sihle Zikalala, Deputy Minister of Public Works and Infrastructure, noted South Africa’s strong positioning to drive industrialisation, innovation, and regional value chain development.  

    “South Africa views the AfCFTA as a historic opportunity to deepen economic ties with our neighbours, expand market access for our goods and services, and promote inclusive, job-rich growth,” said Minister Zikalala.  

    “The IATF2025 must be viewed as more than just a marketplace, and rather as a strategic tool for implementation, where policy meets practice. South Africa has a critical role to play in driving this vision, underpinned by entrepreneurial spirit, institutional strength, and a dynamic SMME ecosystem. Through partnerships and public-private collaboration, we can develop world-class infrastructure across Africa while reducing our reliance on foreign exchange by trading in our own currencies,” he added. 

    H.E Ms. Baleka Mbete, founder NaLHISA and former Deputy President of the Republic of South Africa was also in attendance. 

    The Roadshow convened over 350 business leaders, policymakers, creatives, and investors, as well as senior representatives from African Export-Import Bank (Afreximbank), the African Union Commission (AUC), and the AfCFTA Secretariat. Themed “Harnessing Regional and Continental Value Chains: Accelerating Africa’s Industrialisation and Global Competitiveness under the AfCFTA,” the event spotlighted strategies to build resilient supply chains and boost intra-African trade. 

    Accelerating intra-African trade is pivotal to unlocking industrial opportunities tailored to the continent’s strengths. It reduces dependence on external markets, builds economic resilience, and enables value addition within Africa. When African nations trade more with one another, they retain more wealth, create higher-quality jobs, and foster inclusive growth through regional value chains. 

    With the AfCFTA creating a single market of 1.4 billion people, Africa gains the scale and efficiency needed to compete globally. A stronger internal market also improves the continent’s bargaining power in international negotiations, strengthens its integration into global supply chains, and sets the stage for long-term economic transformation. 

    South Africa’s strong industrial base, advanced financial sector, and world-class infrastructure position it as a regional anchor for AfCFTA implementation. According to South African Revenue Service (SARS) and UN COMTRADE, South Africa recorded merchandise exports of $110.5 billion and imports of $113.2 billion in 2023, resulting in a modest trade deficit of $2.7 billion. Trade made up 65.7% of GDP (World Bank, 2023), demonstrating South Africa’s deep integration into global markets. 

    Notably, intra-African trade remained a national strength. As reported in Afreximbank’s 2024 African Trade Report, South Africa exported $29.6 billion and imported $9.6 billion from African partners, with intra-African exports comprising 26.8% of total exports. Key sectors such as automotive, agro-processing, and financial services are already benefiting and poised to grow further through regional integration and value chain expansion. 

    Dr. Gainmore Zanamwe, Director, Trade Facilitation and Investment Promotion, Afreximbank, highlighted ongoing efforts to enable seamless intro-Africa trade: “Afreximbank is deeply committed to unlocking Africa’s industrial and trade potential by building enabling ecosystems from financing to infrastructure and standards. Through platforms like the Africa Trade Gateway and Pan-African Payment and Settlement System (PAPSS), we are removing long-standing barriers to intra-African trade, allowing businesses to transact in local currencies and access real-time market intelligence.”  

    Dr. Zanamwe also emphasised the growing role of South Africa and Algeria in regional value chains, especially in manufacturing and automotive sectors. He encouraged South African companies to participate actively in IATF2025, pointing to over $13 billion in EPC (Engineering, Procurement and Construction) contracts facilitated by Afreximbank. He also highlighted funding vehicles such as the Fund for Export Development in Africa (FEDA), the Africa Direct Investment Initiative, and the $2 billion Export Agriculture for Food Security programme. 

    “IATF2025 is not just an exhibition – it’s a business gateway. With 2,000+ exhibitors, 35,000 visitors, and 140+ participating countries, we project over $44 billion in trade and investment deals. This is South Africa’s opportunity to lead,” he said. 

    In closing, H.E. Ambassador Ali Achoui, Algeria’s Ambassador to South Africa, extended a warm invitation to South African businesses: 

    “Welcome to Algeria – a country with the third-largest GDP in Africa, no external debt, and ranked first in Africa and the Arab world in achieving the United Nations Sustainable Development Goals. We are proud to host IATF2025 and are committed to facilitating streamlined visa processes by reducing documentation requirements to ease access for all African participants.” 

    Since 2018, IATF has secured more than $100 billion in trade deals, welcomed over 70,000 visitors, more than 4500 exhibitors and has become Africa’s most influential trade and investment platform. 

    The event will feature: 

    • A trade exhibition 
    • The Creative Africa Nexus (CANEX) showcase of fashion, music, film, sports, gastronomy, arts and craft, and literature 
    • A four-day Trade and Investment Forum 
    • The Africa Automotive Show 
    • Special Country Days and Global Africa Day celebrations 
    • B2B and B2G matchmaking 
    • The AU Youth Start-Up programme 
    • The Africa Research & Innovation Hub 
    • AfSNET to promote sub-national trade and cultural exchange 
    • IATF virtual. 

    To register for IATF2025 or learn more, please visit: www.IntrAfricanTradeFair.com 

    Distributed by APO Group on behalf of Afreximbank.

    Media Contact: 
    media@intrafricatradefair.com  
    press@afreximbank.com

    About the Intra-African Trade Fair:
    Organised by the African Export-Import Bank (Afreximbank), in collaboration with the African Union Commission (AUC) and the AfCFTA Secretariat, the Intra-African Trade Fair (IATF) is designed to boost intra-African trade and investment. It provides a unique platform for businesses to connect, exchange trade and market information, and explore opportunities to scale across Africa. IATF is open to African and global companies committed to supporting the continent’s industrialisation and transformation. 

    About The Johannesburg Tourism Company (JTC):  
    JTC, the official sponsor of the IATF2025 South Africa Business Roadshow, is focused on promoting Johannesburg as a business and leisure destination and often supports various events within the city.  

    MIL OSI Africa –

  • MIL-OSI USA: Neal Opening Statement at Hearing with Treasury Secretary Scott Bessent

    Source: United States House of Representatives – Congressman Richard Neal (D-MA)

    WATCH HERE

    (As prepared for delivery)

    Thank you, Mr. Chairman.

    Since Republicans reclaimed the power of a trifecta in Washington, we have seen nothing but an onslaught of unprecedented and irresponsible abuses of power. Whether it’s been the Elon Musk led DOGE shadow operation rifling through Americans’ confidential data or the blatant weaponization of the IRS to target critics of the President, this Administration has trampled legality and dodged transparency at every turn. They operate in deception—circumventing oversight, misleading the public, and bending the levers of power to benefit those in the President’s ear. And Republicans in Congress and on this committee are rubberstamping all of it. Blocking resolutions to get answers for the American people as the Administration ducks accountability and refusing to assert their own power as an oversight and legislative body. They’ve written a blank check for the Trump Administration to taint the system in favor of wealthy tax cheats and against everyone else.

    Now, hand in hand they’re attempting to ram through an abomination of a bill that adds at least $3 trillion to the debt and kicks 16 million from their health care. The Trump Administration and Congressional Republicans are about to make history. They will be responsible for the biggest theft of health care we’ve ever seen. And they’re racing to do it on rushed timelines and in the dead of night before their own members, let alone the public, can catch on. They’re gutting the IRS, shredding enforcement, and handing the ultra-rich billions while everyone else gets scraps. The Administration is robbing states of manufacturing and energy projects that have already proved effective in creating jobs and spurring investments. Cancelling these projects will cost Americans thousands of jobs and hand innovations to our global competitors. How does taking jobs away from American workers and ceding innovation to China square with what this Administration claims to stand for?  

    Mr. Secretary, when you were named Treasury Secretary, you had a reputation for steady, sound, fact-based decision-making, which set you apart from others in the President’s orbit. That’s why it’s so disappointing to see you attack nonpartisan scorekeepers like CBO and JCT, who just call balls and strikes, and rely instead on fantasy math to defend a bill that I believe you know clearly explodes the deficit. Mr. Secretary, if the math you project is to be true, why don’t the bond markets believe you? You claim CBO and JCT are providing partisan numbers, but it’s the markets who are reacting. Are they partisan, too? 

    When the President took office, we warned the consequences would be swift. Over four months in, they’re undeniable. Markets have been rattled. Confidence is crashing. GDP is shrinking. Power has been turned over to unelected and unqualified loyalists and lackeys, and the President has ignited a reckless trade war he has no plan for and is over his head with. And it’s all while he guts services millions rely on so he can enrich himself and his friends.

    Under Trump and Republicans’ watch, the American people are being left with a system rigged against them. Their privacy is under threat. Their basic needs are on the chopping block. And their government is being twisted into a tool for political retribution and personal gain.

    We cannot let this stand. Oversight is a sacred obligation of Congress. When Republicans refuse to ask real questions, Democrats will. We will fight to protect taxpayers and their privacy, defend the integrity of our institutions, and ensure no one, no matter how wealthy or well-connected, is above the law.

    I yield back. 

    ###

     

    (As prepared for delivery)

    Thank you, Mr. Chairman.

    Since Republicans reclaimed the power of a trifecta in Washington, we have seen nothing but an onslaught of unprecedented and irresponsible abuses of power. Whether it’s been the Elon Musk led DOGE shadow operation rifling through Americans’ confidential data or the blatant weaponization of the IRS to target critics of the President, this Administration has trampled legality and dodged transparency at every turn. They operate in deception—circumventing oversight, misleading the public, and bending the levers of power to benefit those in the President’s ear. And Republicans in Congress and on this committee are rubberstamping all of it. Blocking resolutions to get answers for the American people as the Administration ducks accountability and refusing to assert their own power as an oversight and legislative body. They’ve written a blank check for the Trump Administration to taint the system in favor of wealthy tax cheats and against everyone else.

    Now, hand in hand they’re attempting to ram through an abomination of a bill that adds at least $3 trillion to the debt and kicks 16 million from their health care. The Trump Administration and Congressional Republicans are about to make history. They will be responsible for the biggest theft of health care we’ve ever seen. And they’re racing to do it on rushed timelines and in the dead of night before their own members, let alone the public, can catch on. They’re gutting the IRS, shredding enforcement, and handing the ultra-rich billions while everyone else gets scraps. The Administration is robbing states of manufacturing and energy projects that have already proved effective in creating jobs and spurring investments. Cancelling these projects will cost Americans thousands of jobs and hand innovations to our global competitors. How does taking jobs away from American workers and ceding innovation to China square with what this Administration claims to stand for?  

    Mr. Secretary, when you were named Treasury Secretary, you had a reputation for steady, sound, fact-based decision-making, which set you apart from others in the President’s orbit. That’s why it’s so disappointing to see you attack nonpartisan scorekeepers like CBO and JCT, who just call balls and strikes, and rely instead on fantasy math to defend a bill that I believe you know clearly explodes the deficit. Mr. Secretary, if the math you project is to be true, why don’t the bond markets believe you? You claim CBO and JCT are providing partisan numbers, but it’s the markets who are reacting. Are they partisan, too? 

    When the President took office, we warned the consequences would be swift. Over four months in, they’re undeniable. Markets have been rattled. Confidence is crashing. GDP is shrinking. Power has been turned over to unelected and unqualified loyalists and lackeys, and the President has ignited a reckless trade war he has no plan for and is over his head with. And it’s all while he guts services millions rely on so he can enrich himself and his friends.

    Under Trump and Republicans’ watch, the American people are being left with a system rigged against them. Their privacy is under threat. Their basic needs are on the chopping block. And their government is being twisted into a tool for political retribution and personal gain.

    We cannot let this stand. Oversight is a sacred obligation of Congress. When Republicans refuse to ask real questions, Democrats will. We will fight to protect taxpayers and their privacy, defend the integrity of our institutions, and ensure no one, no matter how wealthy or well-connected, is above the law.

    I yield back. 

    ###

     

    (As prepared for delivery)

    Thank you, Mr. Chairman.

    Since Republicans reclaimed the power of a trifecta in Washington, we have seen nothing but an onslaught of unprecedented and irresponsible abuses of power. Whether it’s been the Elon Musk led DOGE shadow operation rifling through Americans’ confidential data or the blatant weaponization of the IRS to target critics of the President, this Administration has trampled legality and dodged transparency at every turn. They operate in deception—circumventing oversight, misleading the public, and bending the levers of power to benefit those in the President’s ear. And Republicans in Congress and on this committee are rubberstamping all of it. Blocking resolutions to get answers for the American people as the Administration ducks accountability and refusing to assert their own power as an oversight and legislative body. They’ve written a blank check for the Trump Administration to taint the system in favor of wealthy tax cheats and against everyone else.

    Now, hand in hand they’re attempting to ram through an abomination of a bill that adds at least $3 trillion to the debt and kicks 16 million from their health care. The Trump Administration and Congressional Republicans are about to make history. They will be responsible for the biggest theft of health care we’ve ever seen. And they’re racing to do it on rushed timelines and in the dead of night before their own members, let alone the public, can catch on. They’re gutting the IRS, shredding enforcement, and handing the ultra-rich billions while everyone else gets scraps. The Administration is robbing states of manufacturing and energy projects that have already proved effective in creating jobs and spurring investments. Cancelling these projects will cost Americans thousands of jobs and hand innovations to our global competitors. How does taking jobs away from American workers and ceding innovation to China square with what this Administration claims to stand for?  

    Mr. Secretary, when you were named Treasury Secretary, you had a reputation for steady, sound, fact-based decision-making, which set you apart from others in the President’s orbit. That’s why it’s so disappointing to see you attack nonpartisan scorekeepers like CBO and JCT, who just call balls and strikes, and rely instead on fantasy math to defend a bill that I believe you know clearly explodes the deficit. Mr. Secretary, if the math you project is to be true, why don’t the bond markets believe you? You claim CBO and JCT are providing partisan numbers, but it’s the markets who are reacting. Are they partisan, too? 

    When the President took office, we warned the consequences would be swift. Over four months in, they’re undeniable. Markets have been rattled. Confidence is crashing. GDP is shrinking. Power has been turned over to unelected and unqualified loyalists and lackeys, and the President has ignited a reckless trade war he has no plan for and is over his head with. And it’s all while he guts services millions rely on so he can enrich himself and his friends.

    Under Trump and Republicans’ watch, the American people are being left with a system rigged against them. Their privacy is under threat. Their basic needs are on the chopping block. And their government is being twisted into a tool for political retribution and personal gain.

    We cannot let this stand. Oversight is a sacred obligation of Congress. When Republicans refuse to ask real questions, Democrats will. We will fight to protect taxpayers and their privacy, defend the integrity of our institutions, and ensure no one, no matter how wealthy or well-connected, is above the law.

    I yield back. 

    ###

     

    (As prepared for delivery)

    Thank you, Mr. Chairman.

    Since Republicans reclaimed the power of a trifecta in Washington, we have seen nothing but an onslaught of unprecedented and irresponsible abuses of power. Whether it’s been the Elon Musk led DOGE shadow operation rifling through Americans’ confidential data or the blatant weaponization of the IRS to target critics of the President, this Administration has trampled legality and dodged transparency at every turn. They operate in deception—circumventing oversight, misleading the public, and bending the levers of power to benefit those in the President’s ear. And Republicans in Congress and on this committee are rubberstamping all of it. Blocking resolutions to get answers for the American people as the Administration ducks accountability and refusing to assert their own power as an oversight and legislative body. They’ve written a blank check for the Trump Administration to taint the system in favor of wealthy tax cheats and against everyone else.

    Now, hand in hand they’re attempting to ram through an abomination of a bill that adds at least $3 trillion to the debt and kicks 16 million from their health care. The Trump Administration and Congressional Republicans are about to make history. They will be responsible for the biggest theft of health care we’ve ever seen. And they’re racing to do it on rushed timelines and in the dead of night before their own members, let alone the public, can catch on. They’re gutting the IRS, shredding enforcement, and handing the ultra-rich billions while everyone else gets scraps. The Administration is robbing states of manufacturing and energy projects that have already proved effective in creating jobs and spurring investments. Cancelling these projects will cost Americans thousands of jobs and hand innovations to our global competitors. How does taking jobs away from American workers and ceding innovation to China square with what this Administration claims to stand for?  

    Mr. Secretary, when you were named Treasury Secretary, you had a reputation for steady, sound, fact-based decision-making, which set you apart from others in the President’s orbit. That’s why it’s so disappointing to see you attack nonpartisan scorekeepers like CBO and JCT, who just call balls and strikes, and rely instead on fantasy math to defend a bill that I believe you know clearly explodes the deficit. Mr. Secretary, if the math you project is to be true, why don’t the bond markets believe you? You claim CBO and JCT are providing partisan numbers, but it’s the markets who are reacting. Are they partisan, too? 

    When the President took office, we warned the consequences would be swift. Over four months in, they’re undeniable. Markets have been rattled. Confidence is crashing. GDP is shrinking. Power has been turned over to unelected and unqualified loyalists and lackeys, and the President has ignited a reckless trade war he has no plan for and is over his head with. And it’s all while he guts services millions rely on so he can enrich himself and his friends.

    Under Trump and Republicans’ watch, the American people are being left with a system rigged against them. Their privacy is under threat. Their basic needs are on the chopping block. And their government is being twisted into a tool for political retribution and personal gain.

    We cannot let this stand. Oversight is a sacred obligation of Congress. When Republicans refuse to ask real questions, Democrats will. We will fight to protect taxpayers and their privacy, defend the integrity of our institutions, and ensure no one, no matter how wealthy or well-connected, is above the law.

    I yield back. 

    ###

    MIL OSI USA News –

  • MIL-OSI United Kingdom: Aberdeen prepares for Armed Forces Day Parade 2025

    Source: Scotland – City of Aberdeen

    More than 1,000 serving military personnel, veterans, reservists and cadet and youth organisations are set to parade through Aberdeen city centre to mark Armed Forces Day on Saturday 28 June.

    Residents and visitors alike are invited to watch the 2025 parade, which will include local pipe bands and vintage military vehicles. 

    The parade will start at Albyn Place at 11am and go along Union Street, Union Terrace, Schoolhill, Upperkirkgate and Broad Street, finishing at the Castlegate. 

    The Lord Provost of Aberdeen, Dr David Cameron, in his role as Lord-Lieutenant will take the salute outside Marischal College in front of the City’s official flagpole on Broad Street.  

    In the interest of public safety, the following temporary road restrictions will be in place:

    From 6pm on Friday 27 June until 12noon on Saturday 28 June 2025

    There will be a suspension of parking on:

    • The north side of Albyn Place between its junctions with Albyn Grove and Rubislaw Place. Vehicles associated with the parade will be exempt.
    • Schoolhill, including the inset road
    • Union Terrace
    • Upperkirkgate
    • Wellington Place, Aberdeen, between its junctions with Crown Street and South College Street. This is to accommodate the bus diversion route.

    From 10am on Saturday 28 June until 1pm on Saturday 28 June 2025

    There will be a suspension of all waiting for any purpose, with the exception of any waiting taxis on:

    • The west side of Chapel Street, north of the junction with Thistle Street for 53 metres or thereby. This area is to provide a temporary Taxi Rank for this period.

    From 9am on Saturday 28 June until 12.30pm on Saturday 28 June

    No driving will be permitted on the following roads:

    • Albyn Place from Albyn Grove to Alford Place
    • Alford Place from Albyn Place to Union Street
    • Rubislaw Place from Albyn Place to Rubislaw Terrace
    • Victoria Street from Alford Place to Thistle Place
    • Union Street from Alford Place to Union Terrace
    • Holburn Street from Alford Place to Union Grove
    • Chapel Street from Union Street to Thistle Street
    • Bon Accord St from Langstane Place to Union Street
    • Union Row from Union Wynd to Union Street
    • Crown Street from Windmill Brae to Union Street
    • Union Terrace from Union Street to Rosemount Viaduct
    • Rosemount Viaduct from Skene Street to Blackfriars Street
    • Blackfriars Street from St Andrew Street to Schoolhill
    • St Andrew Street from Blackfriars Street to Charlotte Street
    • Belmont Street from Gaelic Lane to Schoolhill
    • Back Wynd from Little Belmont Street to Schoolhill
    • Upperkirkgate from Broad Street to Schoolhill
    • Schoolhill from Upperkirkgate to Blackfriars Street
    • Gallowgate from Little John Street to Upperkirkgate
    • Broad Street from Upperkirkgate to Union Street
    • Union Street from Broad Street to Castle Street
    • King Street from Castle Street to West North Street
    • Castle Street in its entirety

    From 10.45am on Saturday 28 June until 12.30pm on Saturday 28 June

    No driving will be permitted on the following roads:

    Taxi Ranks

    Dee Street, Back Wynd, Queen Street & Exchequer Row taxi ranks will be impacted by these road closures between 10.45am until 12.30pm on Saturday 28 June 2025.

    Chapel Street – This rank will be relocated on Chapel Street to outside Holiday Inn Express facing away from Union Street. Access for this rank will be from Thistle Street only. Waiting will be for Taxis only.

    Later opening time for Marischal College car park

    Due to the road closures nearby, Marischal College car park, which is accessed from Queen Street, will open later than usual at 1pm. All other city centre car parks will be open as normal.

    MIL OSI United Kingdom –

  • MIL-OSI USA: Malliotakis Leads Bipartisan Legislation to Strengthen U.S. Medical & Pharmaceutical Supply Chains

    Source: United States House of Representatives – Congresswoman Nicole Malliotakis (NY-11)

    (WASHINGTON, D.C.) – Congresswoman Nicole Malliotakis introduced the Medical Supply Chain Resiliency Act alongside Rep. Brad Schneider (D-IL) and Senators  Chris Coons (D-DE), Thom Tillis (R-NC), John Cornyn (R-TX), and Michael Bennet (D-CO). This bicameral and bipartisan legislation would authorize the United States to negotiate Trusted Trade Partner Agreements, aimed at reducing barriers that discourage manufacturing in the U.S. and partner countries. These agreements would also promote regulatory cooperation and other key trade provisions.

     

    To qualify as a Trusted Trade Partner, countries must demonstrate a commitment to global health security, uphold trade agreement compliance, protect U.S. intellectual property, and take steps to reduce trade barriers while promoting sound regulatory practices. Some potential candidates include Singapore, Indonesia, Ireland, Poland, and Switzerland.

     

    The legislation aims to strengthen global medical supply chains, enhancing U.S. national security and public health while ensuring preparedness for future pandemics. It empowers the U.S. Trade Representative to negotiate Trusted Trade Partner Agreements, reducing barriers like tariffs and quotas that discourage manufacturing in the U.S. and allied nations. Additionally, it promotes regulatory cooperation and expands access to government procurement opportunities.

     

    “If COVID taught us anything it is that it’s crucial that we reduce our reliance on foreign nations, especially adversaries like Communist China, for essential lifesaving supplies such as pharmaceuticals and medical devices. Strengthening domestic production will enhance national security, ensure a stable supply of critical medications and medical equipment, and protect Americans from future disruptions,” said Rep. Nicole Malliotakis.

    “The Medical Supply Chain Resiliency Act is a critical step toward ensuring that America’s healthcare providers have reliable access to the essential supplies they need, by strengthening trade partnerships with our allies and expanding domestic manufacturing, we can enhance our nation’s preparedness for future health challenges. I’m proud to support this bipartisan effort to reinforce our medical supply chains and protect public health,” said Senator Thom Tillis.

    “During the pandemic, the U.S. faced severe shortages of medical supplies due to overreliance on foreign adversaries like China, this legislation would allow the U.S. to engage in trade negotiations with trusted allies for medical goods and services, helping ensure we’re better prepared to respond to future global health crises,” said Senator John Cornyn.

    “Life-threatening shortages of testing kits, drugs, and masks during the COVID-19 pandemic showed us just how fragile our medical supply chains are. If we are caught off-guard like we were during COVID once again, more Americans will die, working with our most trusted trading partners to make our supply chains more resilient will strengthen our response to future public health emergencies while ensuring health care providers have access to essential medical products and patients have access to life-saving care,” said Senator Chris Coons.

     

    “The Chamber strongly supports the Medical Supply Chain Resilience Act, which will strengthen supply chains for medical goods and services while bolstering manufacturing in the U.S. and among our close allies and partners. Enhancing the resilience of medical supply chains is important to both our public health and our national security,” said the U.S. Chamber of Commerce Senior Vice President for International Policy John Murphy.

     

    “The Medical Supply Chain Resiliency Act is the type of positive approach to trade America must embrace to deepen its economic partnerships with key allies. By empowering the United States Trade Representative to negotiate new agreements with trusted trade partners, the United States has the opportunity to strengthen supply chain security, support U.S. innovation and jobs, and, ultimately, improve health outcomes. It is critically important that the United States collaborate with its allies to support the public health demands of our populations and prepare to meet the challenges of the next global health emergency. NFTC applauds Senators Tillis, Coons, Cornyn, and Bennet for championing this legislation, and urges Congress to support its swift passage,” said National Foreign Trade Council (NFTC).

     

    Earlier this year, Malliotakis reintroduced the Supply Chain Security and Growth Act of 2025, bipartisan legislation that would leverage Investment Tax Credits (ITCs) to facilitate a rapid movement of critical U.S. supply chains to Puerto Rico from less desirable and unreliable locations such as China with Reps. Jimmy Panetta (CA-19), Vern Buchanan (FL-16), Nydia Velazquez (NY-07), Mike Kelly (PA-16), Mike Lawler (NY-17) and Resident Commissioner Pablo Hernandez (PR-AL).

    MIL OSI USA News –

  • MIL-OSI USA: Malliotakis Leads Bipartisan Legislation to Strengthen U.S. Medical & Pharmaceutical Supply Chains

    Source: United States House of Representatives – Congresswoman Nicole Malliotakis (NY-11)

    (WASHINGTON, D.C.) – Congresswoman Nicole Malliotakis introduced the Medical Supply Chain Resiliency Act alongside Rep. Brad Schneider (D-IL) and Senators  Chris Coons (D-DE), Thom Tillis (R-NC), John Cornyn (R-TX), and Michael Bennet (D-CO). This bicameral and bipartisan legislation would authorize the United States to negotiate Trusted Trade Partner Agreements, aimed at reducing barriers that discourage manufacturing in the U.S. and partner countries. These agreements would also promote regulatory cooperation and other key trade provisions.

     

    To qualify as a Trusted Trade Partner, countries must demonstrate a commitment to global health security, uphold trade agreement compliance, protect U.S. intellectual property, and take steps to reduce trade barriers while promoting sound regulatory practices. Some potential candidates include Singapore, Indonesia, Ireland, Poland, and Switzerland.

     

    The legislation aims to strengthen global medical supply chains, enhancing U.S. national security and public health while ensuring preparedness for future pandemics. It empowers the U.S. Trade Representative to negotiate Trusted Trade Partner Agreements, reducing barriers like tariffs and quotas that discourage manufacturing in the U.S. and allied nations. Additionally, it promotes regulatory cooperation and expands access to government procurement opportunities.

     

    “If COVID taught us anything it is that it’s crucial that we reduce our reliance on foreign nations, especially adversaries like Communist China, for essential lifesaving supplies such as pharmaceuticals and medical devices. Strengthening domestic production will enhance national security, ensure a stable supply of critical medications and medical equipment, and protect Americans from future disruptions,” said Rep. Nicole Malliotakis.

    “The Medical Supply Chain Resiliency Act is a critical step toward ensuring that America’s healthcare providers have reliable access to the essential supplies they need, by strengthening trade partnerships with our allies and expanding domestic manufacturing, we can enhance our nation’s preparedness for future health challenges. I’m proud to support this bipartisan effort to reinforce our medical supply chains and protect public health,” said Senator Thom Tillis.

    “During the pandemic, the U.S. faced severe shortages of medical supplies due to overreliance on foreign adversaries like China, this legislation would allow the U.S. to engage in trade negotiations with trusted allies for medical goods and services, helping ensure we’re better prepared to respond to future global health crises,” said Senator John Cornyn.

    “Life-threatening shortages of testing kits, drugs, and masks during the COVID-19 pandemic showed us just how fragile our medical supply chains are. If we are caught off-guard like we were during COVID once again, more Americans will die, working with our most trusted trading partners to make our supply chains more resilient will strengthen our response to future public health emergencies while ensuring health care providers have access to essential medical products and patients have access to life-saving care,” said Senator Chris Coons.

     

    “The Chamber strongly supports the Medical Supply Chain Resilience Act, which will strengthen supply chains for medical goods and services while bolstering manufacturing in the U.S. and among our close allies and partners. Enhancing the resilience of medical supply chains is important to both our public health and our national security,” said the U.S. Chamber of Commerce Senior Vice President for International Policy John Murphy.

     

    “The Medical Supply Chain Resiliency Act is the type of positive approach to trade America must embrace to deepen its economic partnerships with key allies. By empowering the United States Trade Representative to negotiate new agreements with trusted trade partners, the United States has the opportunity to strengthen supply chain security, support U.S. innovation and jobs, and, ultimately, improve health outcomes. It is critically important that the United States collaborate with its allies to support the public health demands of our populations and prepare to meet the challenges of the next global health emergency. NFTC applauds Senators Tillis, Coons, Cornyn, and Bennet for championing this legislation, and urges Congress to support its swift passage,” said National Foreign Trade Council (NFTC).

     

    Earlier this year, Malliotakis reintroduced the Supply Chain Security and Growth Act of 2025, bipartisan legislation that would leverage Investment Tax Credits (ITCs) to facilitate a rapid movement of critical U.S. supply chains to Puerto Rico from less desirable and unreliable locations such as China with Reps. Jimmy Panetta (CA-19), Vern Buchanan (FL-16), Nydia Velazquez (NY-07), Mike Kelly (PA-16), Mike Lawler (NY-17) and Resident Commissioner Pablo Hernandez (PR-AL).

    MIL OSI USA News –

  • MIL-OSI USA: Malliotakis Leads Bipartisan Legislation to Strengthen U.S. Medical & Pharmaceutical Supply Chains

    Source: United States House of Representatives – Congresswoman Nicole Malliotakis (NY-11)

    (WASHINGTON, D.C.) – Congresswoman Nicole Malliotakis introduced the Medical Supply Chain Resiliency Act alongside Rep. Brad Schneider (D-IL) and Senators  Chris Coons (D-DE), Thom Tillis (R-NC), John Cornyn (R-TX), and Michael Bennet (D-CO). This bicameral and bipartisan legislation would authorize the United States to negotiate Trusted Trade Partner Agreements, aimed at reducing barriers that discourage manufacturing in the U.S. and partner countries. These agreements would also promote regulatory cooperation and other key trade provisions.

     

    To qualify as a Trusted Trade Partner, countries must demonstrate a commitment to global health security, uphold trade agreement compliance, protect U.S. intellectual property, and take steps to reduce trade barriers while promoting sound regulatory practices. Some potential candidates include Singapore, Indonesia, Ireland, Poland, and Switzerland.

     

    The legislation aims to strengthen global medical supply chains, enhancing U.S. national security and public health while ensuring preparedness for future pandemics. It empowers the U.S. Trade Representative to negotiate Trusted Trade Partner Agreements, reducing barriers like tariffs and quotas that discourage manufacturing in the U.S. and allied nations. Additionally, it promotes regulatory cooperation and expands access to government procurement opportunities.

     

    “If COVID taught us anything it is that it’s crucial that we reduce our reliance on foreign nations, especially adversaries like Communist China, for essential lifesaving supplies such as pharmaceuticals and medical devices. Strengthening domestic production will enhance national security, ensure a stable supply of critical medications and medical equipment, and protect Americans from future disruptions,” said Rep. Nicole Malliotakis.

    “The Medical Supply Chain Resiliency Act is a critical step toward ensuring that America’s healthcare providers have reliable access to the essential supplies they need, by strengthening trade partnerships with our allies and expanding domestic manufacturing, we can enhance our nation’s preparedness for future health challenges. I’m proud to support this bipartisan effort to reinforce our medical supply chains and protect public health,” said Senator Thom Tillis.

    “During the pandemic, the U.S. faced severe shortages of medical supplies due to overreliance on foreign adversaries like China, this legislation would allow the U.S. to engage in trade negotiations with trusted allies for medical goods and services, helping ensure we’re better prepared to respond to future global health crises,” said Senator John Cornyn.

    “Life-threatening shortages of testing kits, drugs, and masks during the COVID-19 pandemic showed us just how fragile our medical supply chains are. If we are caught off-guard like we were during COVID once again, more Americans will die, working with our most trusted trading partners to make our supply chains more resilient will strengthen our response to future public health emergencies while ensuring health care providers have access to essential medical products and patients have access to life-saving care,” said Senator Chris Coons.

     

    “The Chamber strongly supports the Medical Supply Chain Resilience Act, which will strengthen supply chains for medical goods and services while bolstering manufacturing in the U.S. and among our close allies and partners. Enhancing the resilience of medical supply chains is important to both our public health and our national security,” said the U.S. Chamber of Commerce Senior Vice President for International Policy John Murphy.

     

    “The Medical Supply Chain Resiliency Act is the type of positive approach to trade America must embrace to deepen its economic partnerships with key allies. By empowering the United States Trade Representative to negotiate new agreements with trusted trade partners, the United States has the opportunity to strengthen supply chain security, support U.S. innovation and jobs, and, ultimately, improve health outcomes. It is critically important that the United States collaborate with its allies to support the public health demands of our populations and prepare to meet the challenges of the next global health emergency. NFTC applauds Senators Tillis, Coons, Cornyn, and Bennet for championing this legislation, and urges Congress to support its swift passage,” said National Foreign Trade Council (NFTC).

     

    Earlier this year, Malliotakis reintroduced the Supply Chain Security and Growth Act of 2025, bipartisan legislation that would leverage Investment Tax Credits (ITCs) to facilitate a rapid movement of critical U.S. supply chains to Puerto Rico from less desirable and unreliable locations such as China with Reps. Jimmy Panetta (CA-19), Vern Buchanan (FL-16), Nydia Velazquez (NY-07), Mike Kelly (PA-16), Mike Lawler (NY-17) and Resident Commissioner Pablo Hernandez (PR-AL).

    MIL OSI USA News –

  • MIL-OSI USA: Malliotakis Leads Bipartisan Legislation to Strengthen U.S. Medical & Pharmaceutical Supply Chains

    Source: United States House of Representatives – Congresswoman Nicole Malliotakis (NY-11)

    (WASHINGTON, D.C.) – Congresswoman Nicole Malliotakis introduced the Medical Supply Chain Resiliency Act alongside Rep. Brad Schneider (D-IL) and Senators  Chris Coons (D-DE), Thom Tillis (R-NC), John Cornyn (R-TX), and Michael Bennet (D-CO). This bicameral and bipartisan legislation would authorize the United States to negotiate Trusted Trade Partner Agreements, aimed at reducing barriers that discourage manufacturing in the U.S. and partner countries. These agreements would also promote regulatory cooperation and other key trade provisions.

     

    To qualify as a Trusted Trade Partner, countries must demonstrate a commitment to global health security, uphold trade agreement compliance, protect U.S. intellectual property, and take steps to reduce trade barriers while promoting sound regulatory practices. Some potential candidates include Singapore, Indonesia, Ireland, Poland, and Switzerland.

     

    The legislation aims to strengthen global medical supply chains, enhancing U.S. national security and public health while ensuring preparedness for future pandemics. It empowers the U.S. Trade Representative to negotiate Trusted Trade Partner Agreements, reducing barriers like tariffs and quotas that discourage manufacturing in the U.S. and allied nations. Additionally, it promotes regulatory cooperation and expands access to government procurement opportunities.

     

    “If COVID taught us anything it is that it’s crucial that we reduce our reliance on foreign nations, especially adversaries like Communist China, for essential lifesaving supplies such as pharmaceuticals and medical devices. Strengthening domestic production will enhance national security, ensure a stable supply of critical medications and medical equipment, and protect Americans from future disruptions,” said Rep. Nicole Malliotakis.

    “The Medical Supply Chain Resiliency Act is a critical step toward ensuring that America’s healthcare providers have reliable access to the essential supplies they need, by strengthening trade partnerships with our allies and expanding domestic manufacturing, we can enhance our nation’s preparedness for future health challenges. I’m proud to support this bipartisan effort to reinforce our medical supply chains and protect public health,” said Senator Thom Tillis.

    “During the pandemic, the U.S. faced severe shortages of medical supplies due to overreliance on foreign adversaries like China, this legislation would allow the U.S. to engage in trade negotiations with trusted allies for medical goods and services, helping ensure we’re better prepared to respond to future global health crises,” said Senator John Cornyn.

    “Life-threatening shortages of testing kits, drugs, and masks during the COVID-19 pandemic showed us just how fragile our medical supply chains are. If we are caught off-guard like we were during COVID once again, more Americans will die, working with our most trusted trading partners to make our supply chains more resilient will strengthen our response to future public health emergencies while ensuring health care providers have access to essential medical products and patients have access to life-saving care,” said Senator Chris Coons.

     

    “The Chamber strongly supports the Medical Supply Chain Resilience Act, which will strengthen supply chains for medical goods and services while bolstering manufacturing in the U.S. and among our close allies and partners. Enhancing the resilience of medical supply chains is important to both our public health and our national security,” said the U.S. Chamber of Commerce Senior Vice President for International Policy John Murphy.

     

    “The Medical Supply Chain Resiliency Act is the type of positive approach to trade America must embrace to deepen its economic partnerships with key allies. By empowering the United States Trade Representative to negotiate new agreements with trusted trade partners, the United States has the opportunity to strengthen supply chain security, support U.S. innovation and jobs, and, ultimately, improve health outcomes. It is critically important that the United States collaborate with its allies to support the public health demands of our populations and prepare to meet the challenges of the next global health emergency. NFTC applauds Senators Tillis, Coons, Cornyn, and Bennet for championing this legislation, and urges Congress to support its swift passage,” said National Foreign Trade Council (NFTC).

     

    Earlier this year, Malliotakis reintroduced the Supply Chain Security and Growth Act of 2025, bipartisan legislation that would leverage Investment Tax Credits (ITCs) to facilitate a rapid movement of critical U.S. supply chains to Puerto Rico from less desirable and unreliable locations such as China with Reps. Jimmy Panetta (CA-19), Vern Buchanan (FL-16), Nydia Velazquez (NY-07), Mike Kelly (PA-16), Mike Lawler (NY-17) and Resident Commissioner Pablo Hernandez (PR-AL).

    MIL OSI USA News –

  • MIL-OSI: Double Deposit Bonus. 100x Leverage. No KYC. Crypto Futures Trading for Everyone on BexBack.

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, June 17, 2025 (GLOBE NEWSWIRE) — As Bitcoin returns to around $105K, the cryptocurrency market is once again in high volatility. Experienced traders know that the real opportunity lies not in holding, but in leveraged futures trading.

    In high-volatility conditions like these, spot traders often struggle to generate short-term profits. That’s why more and more investors are turning to 100x leverage crypto futures to amplify gains and capitalize on market swings.

    BexBack Exchange is at the forefront of this shift, offering powerful tools and unmatched promotions to help users seize the moment. The platform now features:

    Why Trade with 100x Leverage?

    1. Amplified Profits – Control large positions with a small capital base, turning small moves into major wins.
    2. Low Entry Barrier – Enter high-value trades without locking up massive funds.
    3. Trade Volatility with Precision – Profit in both bullish and bearish markets.
    4. Maximize Capital Efficiency – Free up your assets for multiple strategies.
    5. Profit in Any Direction – Long or short, leveraged futures let you adapt instantly.

    What Is 100x Leverage — and Why It Works

    Imagine BTC is at $100,000.
    You go long with 1 BTC using 100x leverage — meaning you’re trading as if you had 100 BTC.
    If BTC rises just 5%, to $105,000, you gain 5 BTC in profit — a 500% ROI.

    And with BexBack’s 100% deposit bonus, if you started with 2 BTC, your margin becomes 4 BTC. That 5% move would now return up to 10 BTC — a 1000% ROI.
    (Note: While leverage multiplies gains, it also increases risk. Manage carefully.)

    How the 100% Deposit Bonus Works

    • Bonus is automatically credited after your qualifying deposit.
    • It can’t be withdrawn directly — but can be used to increase position size or reduce liquidation risk.
    • Works as “extra margin” in volatile markets — helping you stay in the trade longer.

    Why More Traders Are Switching to BexBack

    BexBack is licensed as a U.S. MSB (Money Services Business) and serves over 500,000 users across North America, Europe, and Asia. Unlike many competitors, BexBack removes friction — with no identity checks and instant onboarding.

    Platform Highlights:

    • No KYC Required – Start trading instantly with just an email
    • 100% Deposit Bonus – Double your capital instantly
    • 100x Leverage – Maximize your trading power
    • Zero Slippage & No Spread – What you see is what you get
    • 10 BTC Demo Account – Practice risk-free before going live
    • Web + Mobile Support – Trade anywhere, anytime
    • 24/7 Global Support – Professional customer service at your side
    • Affiliate Program – Earn up to 50% commission as a BexBack partner

    Are you ready to make money?

    Missed the last crypto wave? Don’t miss this one.

    With 100x leverage, up to $50 welcome bonus, and no KYC, BexBack lets you trade faster, smarter, and with full control.

    The next bull run doesn’t wait — why should you?

    Sign Up Now on BexBack — Break the 100x Leverage and KYC Barriers, Get Double Deposit Bonus and $50 Welcome Bonus Instantly.

    Website: www.bexback.com

    Contact: business@bexback.com

    Contact:
    Amanda
    business@bexback.com

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

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

    Photos accompanying this announcement are available at
    https://www.globenewswire.com/NewsRoom/AttachmentNg/c4b520d3-e7a6-4d16-9830-6a16a53ba7f7

    https://www.globenewswire.com/NewsRoom/AttachmentNg/e74a667b-491f-4a37-a559-d2305b0a5b42

    https://www.globenewswire.com/NewsRoom/AttachmentNg/2276ba74-58f3-42ec-892b-86f18f7511e5

    https://www.globenewswire.com/NewsRoom/AttachmentNg/e0f4d47b-304c-44f7-a8d7-73403c1de0d8

    The MIL Network –

  • MIL-OSI Europe: Schengen area turns 40

    Source: European Union 2

    Freedom and security

    What do Prague, Lisbon, Geneva and Schengen have in common? 

    They all speak the same language

    They are all cities of countries in the Schengen area

    They all share borders

    All the previous answers are correct

    Correct!

    They are all cities of countries in the Schengen area.

    Incorrect.

    The correct answer is: They are all cities of countries in the Schengen area.

    On 14 June 1985, Belgium, France, Germany, Luxembourg and the Netherlands came together in the town of Schengen and agreed to gradually abolish checks at their internal borders.

    They signed the Schengen Agreement, allowing for the free movement of people, goods, and services amongst themselves.

    Where is Schengen? 

    With a population of over 5 200 the village of Schengen in Luxembourg has been on everyone’s lips for 40 years.

    ©Getty Images | © Allard Schager

    ©Getty Images | © Allard Schager

    Did you know?

    Schengen is bordered by the Moselle, a river that is a shared territory between

    Luxembourg, France, and Germany.

    There is no better symbol of EU integration than this one.

    What does Schengen mean today?

    The Schengen area has blossomed into the world’s largest area of freedom and security.

    The widening of the Schengen area

    A beacon of freedom and opportunity

    People can travel freely between Schengen countries. 

    Shifting border controls to our common external borders has reduced paperwork, waiting times and costs.

    It has fundamentally transformed how people live, work and travel for the better.

    ©Getty Images | Thierry Monasse

    ©Getty Images | Thierry Monasse

    Did you know?

    Every year Europeans make an estimated

    1.25 billion journeys

    within the Schengen area.

    Working together: greater security

    We are safer too, thanks to Schengen.

    Reducing barriers internally was accompanied by increased cooperation between police forces, customs authorities and external border control authorities, helping to make Europe more secure and reinforcing our external borders and managing migration more effectively. 

    This is essential to fight terrorism, organised crime and hybrid threats.

    Schengen Information System (SIS) is the most widely used and largest information sharing system for security and border management in Europe and allows authorities to share and access security alerts in real time across Schengen.

    ©Getty Images | Hristo Rusev

    ©Getty Images | Hristo Rusev

    Did you know?

    Almost

    2 million

    police officers, border guards, immigration officers, and consular staff work and cooperate every day to ensure our freedom and security.

    A place where businesses and citizens can thrive

    Schengen is a major driver of competitiveness and a true enabler of the single market. Since workers and goods can move freely, companies are able to reduce administrative costs and access larger markets at the same time.

    The same goes for the tourism and cultural sectors. Schengen simplifies travel, making Europe an even more attractive tourist destination. For example, visitors coming from non-Schengen countries can access all Schengen 29 countries with just one Schengen visa. This in turn directly benefits revenues for local businesses and economies.

    ©Getty Images | Bloomberg

    ©Getty Images | Bloomberg

    Did you know?

    In 2024,

    nearly 1.5 billion nights

    were spent at tourism establishments across the Schengen countries by tourists from other Schengen states or outside Schengen.

    Freedom. Opportunity. Security. Unity.

    Thanks to Schengen, we have more of all of them.

    40 years of expanding our horizons, while bringing us closer together.

    Now that’s truly something to celebrate.

    MIL OSI Europe News –

  • MIL-OSI: Billion Dollar Sports Entertainment Facility Market Witnessing Significantly High Revenue Share

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH, Fla., June 17, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Sports facilities are not just earning revenues from sports but are also creating additional revenues from entertainment and other events. A recent report from Market.us said that the Global Sports Facilities Market size is expected to be worth around USD 1,084.0 Billion by 2034, from USD 132.4 Billion in 2024, growing at a CAGR of 23.4% during the forecast period from 2025 to 2034. The report said: “Sports facilities are dedicated spaces for athletic activities, training, and competitions. They include stadiums, arenas, gymnasiums, and community sports complexes. Some focus on professional events, while others serve schools and local leagues. These facilities support various sports, offering equipment, seating, and amenities for players and spectators. The sports facilities market includes businesses that develop, operate, and manage venues for sports activities. It covers public and private stadiums, fitness centers, and training complexes. The market depends on sports popularity, event hosting, and investments in infrastructure. Revenue comes from ticket sales, sponsorships, memberships, and government funding. Sports facilities are evolving to meet rising demand. Governments and private investors are upgrading stadiums, gyms, and training centers to attract more visitors.” Active Entertainment companies active in the markets include: Venu Holding Corporation (NYSE American: VENU), Live Nation Entertainment (NYSE: LYV), TKO Group Holdings, Inc. (NYSE: TKO), Madison Square Garden Sports Corp. (NYSE: MSGS), DraftKings Inc. (NASDAQ: DKNG).

    “Major sports events significantly impact local economies. According to Wikipedia, every $1 spent on operating costs and venues generates $2 for the host city. Additionally, these events create over 18,000 jobs on average. For this reason, cities continue to bid for global tournaments despite the high cost of construction and maintenance. Growth in this market is driven by increased sports participation and tourism. New multi-purpose venues host concerts, exhibitions, and esports events alongside traditional sports. However, competition is intense, with regions vying for sponsorships and government funding. As a result, operators focus on technology, sustainability, and unique fan experiences to stay competitive. The impact of sports facilities extends beyond entertainment. Locally, they create jobs, boost tourism, and promote community engagement. On a larger scale, they strengthen the global sports economy. Well-maintained venues attract international events, driving revenue from ticket sales, sponsorships, and broadcasting rights. Consequently, sports infrastructure plays a key role in economic growth.”

    Venu Holding Corporation (NYSE: VENU) Closes $10.125 Million Strategic Investment from Institutional Investor, Issues Convertible Preferred Stock – Venu Holding Corp. ($VENU) has closed a $10.125 million equity investment from a leading institutional investor through the issuance of 675 shares of Series B 4% Convertible Preferred Stock, priced at a Stated Value of $15,000 per share.

    Each share of Series B Preferred Stock is convertible into 1,000 shares of common stock, reflecting a conversion price of $15.00 per share, with a 4% annual cumulative dividend, payable in cash or registered common stock.

    Proceeds from the investment will support the continued development of the Company’s amphitheater buildout, including high-profile venues underway in McKinney, Texas and Tulsa, Oklahoma.

    Key terms of the Series B Preferred Stock include:

    • $15.00/share conversion price
    • Senior priority to common stock
    • Optional redemption rights for the investor if key venues are not operational by August 14, 2027
    • Company call option for conversion if common stock trades above $20.00 for 20 out of 30 consecutive trading days
    • Mandatory redemption if key long-term service agreements are terminated without replacement

    Additionally, the Company has entered into a Registration Rights Agreement and will file a registration statement with the SEC to cover the resale of any common shares issued under the preferred terms. This strategic capital infusion strengthens the Company’s balance sheet and further positions it to capitalize on demand for premium live entertainment infrastructure nationwide.   Read more about Venu Holding at:   https://venu.live/invest/

    In other developments and happenings in the sports/entertainment industry recently include:

    Live Nation Entertainment (NYSE: LYV), the global leader in live events, recently announced the election of Richard Grenell to its Board of Directors. Mr. Grenell brings decades of experience in diplomacy and negotiations, having served as U.S. Ambassador to Germany, Acting Director of National Intelligence, Presidential Envoy for Kosovo-Serbia Negotiations and Presidential Envoy for Special Missions. Mr. Grenell also currently serves as the President of the John F. Kennedy Center for the Performing Arts, where he oversees operations and programming at one of the nation’s premier cultural institutions.

    His career experience will help support Live Nation’s mission to bring more live music to the world, while also advocating for industry reforms that protect both fans and artists. “We are pleased to welcome Ric to our Board,” said Randall Mays, Chairman of the Board of Live Nation Entertainment. “His background will bring a valuable perspective as Live Nation continues to contribute to a growing live music industry around the globe.”

    TKO Group Holdings, Inc. (NYSE: TKO), a premium sports and entertainment company, recently announced that its board of directors has declared a quarterly cash dividend pursuant to which TKO’s Class A common stockholders will receive their pro rata share of an aggregate distribution of approximately $75 million from TKO Operating Company, LLC to its equityholders. The per share dividend to the holders of TKO’s Class A common stockholders will be $0.38 per share. The dividend will be paid on June 30, 2025 to Class A common stockholders of record as of the close of business on June 13, 2025.

    Future declarations of quarterly dividends are subject to the determination and discretion of TKO based on its consideration of various factors, such as its results of operations, financial condition, market conditions, earnings, cash flow requirements, restrictions in its debt agreements and legal requirements and other factors that TKO deems relevant.

    Madison Square Garden Sports Corp. (NYSE: MSGS) recently reported financial results for the fiscal third quarter ended March 31, 2025. Fiscal 2025 third quarter operating results reflected growth in average per-game revenues, including for tickets, sponsorship and premium hospitality offerings, across a combined two fewer New York Knicks (“Knicks”) and New York Rangers (“Rangers”) games played at the Madison Square Garden Arena (“The Garden”) as compared to the prior year quarter. In addition, fiscal 2025 third quarter operating results reflected the impact of expected reductions in local media rights fees as a result of proposed amendments to the Knicks’ and Rangers’ local media rights agreements with MSG Networks Inc. (“MSG Networks”) (as announced on April 25, 2025 and discussed in further detail in the Other Matters section of this earnings release), as well as the impact of the Knicks’ and Rangers’ rosters for the 2024-25 seasons.

    In March, the Company launched its 2025-26 Knicks and Rangers season ticket renewal initiative, which has seen strong demand to date. Subsequent to the end of the fiscal 2025 third quarter, both teams concluded their regular seasons, with the Knicks currently competing in the NBA playoffs.

    For the fiscal 2025 third quarter, the Company generated revenues of $424.2 million, a decrease of $5.8 million, or 1%, as compared to the prior year period. In addition, the Company reported operating income of $32.3 million, a decrease of $47.4 million, or 59%, and adjusted operating income of $36.9 million, a decrease of $51.8 million, or 58%, both as compared to the prior year period.

    In response to the recent and prior sports wagering tax increases passed by the Illinois state legislature on all mobile and online sports wagers placed with licensed operators, DraftKings Inc. (NASDAQ: DKNG) recently announced that it will implement a 50-cent transaction fee on all mobile and online bets placed in Illinois through DraftKings Sportsbook, effective September 1, 2025.

    “Illinois has been an important part of our growth, and we’re proud to have contributed meaningfully to the state through tax revenue, job creation, and a sustained investment in responsible gaming tools and resources,” said Jason Robins, Chief Executive Officer and Co-Founder of DraftKings. “We are disappointed that Illinois policymakers have chosen to more than triple our tax rate over the past two years, and we are very concerned about what this will do to the legal, regulated industry. Meanwhile, Illinois continues to fuel the rapidly growing illegal industry, which pays no taxes or fees and provides none of the consumer protections that regulated operators offer.”

    DraftKings continues to support collaborative policymaking that works for the state and allows for the long-term sustainability of the industry. Should the legislation be repealed, the company will immediately remove the Illinois-specific per wager transaction fee.

    About FN Media Group:

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

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    DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM expects to be compensated twenty two hundred dollars for news coverage of the current press releases issued by Venu Holding Corporation 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: Northstrive Biosciences Announces Initiation of Phase II of Collaboration to Develop AI Powered Therapies for Obesity and Cardiometabolic Diseases

    Source: GlobeNewswire (MIL-OSI)

    • Northstrive Biosciences and Yuva Biosciences previously announced a collaboration leveraging MitoNova™, YuvaBio’s proprietary mitochondrial science-focused artificial intelligence platform, to discover and develop novel pharmaceutical treatments for obesity, type 2 diabetes and other cardiometabolic conditions.
    • Phase II of this collaboration involves compiling a selection of small molecule candidates that promote mitochondrial health in obesity and cardiac diseases.

    NEWPORT BEACH, Calif., June 17, 2025 (GLOBE NEWSWIRE) — Northstrive Biosciences Inc. (“Northstrive”), a subsidiary of PMGC Holdings Inc. (NASDAQ: ELAB) (the “Company,” “PMGC,” “we,” or “our”), today announced the initiation of Phase II of the AI Development Program with strategic partner Yuva Biosciences, Inc. (“YuvaBio”). As part of the Phase II objective, both companies will collaborate to leverage MitoNova™, YuvaBio’s AI mitochondrial science-focused artificial intelligence platform, to compile a selection of small molecule candidates that promote mitochondrial health in obesity and cardiac diseases.

    YuvaBio will use MitoNova™ to virtually screen a large-scale library of diverse, drug-like small molecules and predict which candidates are most likely to promote mitochondrial health. YuvaBio will then analyze results of this screen, including chemical and bioactivity properties, to highlight opportunities for biological validation. Then, YuvaBio will compile an initial list of synthetic compounds for muscle preservation and metabolic health.

    About Northstrive Biosciences Inc.

    Northstrive Biosciences Inc., a PMGC Holdings Inc. company, is a biopharmaceutical company focusing on the development and acquisition of cutting-edge aesthetic medicines. Northstrive Biosciences’ lead asset, EL-22, leverages an engineered probiotic approach to address obesity’s pressing issue of preserving muscle while on weight loss treatments, including GLP-1 receptor agonists. For more information, please visit www.northstrivebio.com.

    About PMGC Holdings Inc.

    PMGC Holdings Inc. is a diversified holding company that manages and grows its portfolio through strategic acquisitions, investments, and development across various industries. Currently, our portfolio consists of three wholly owned subsidiaries: Northstrive Biosciences Inc., PMGC Research Inc., and PMGC Capital LLC. We are committed to exploring opportunities in multiple sectors to maximize growth and value. For more information, please visit https://www.pmgcholdings.com.

    Forward-Looking Statements

    Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Words such as “believes,” “expects,” “plans,” “potential,” “would” and “future” or similar expressions such as “look forward” are intended to identify forward-looking statements. Forward-looking statements are made as of the date of this press release and are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, activities of regulators and future regulations 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 our control. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results. Therefore, you should not rely on any of these forward-looking statements. These and other risks are described more fully in PMGC Holdings’ filings with the United States Securities and Exchange Commission (“SEC”), including the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 28, 2025, and its other documents subsequently filed with or furnished to the SEC. Investors and security holders are urged to read these documents free of charge on the SEC’s web site at www.sec.gov. All forward-looking statements contained in this press release speak only as of the date on which they were made. Except to the extent required by law, the Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.

    IR Contact:
    IR@pmgcholdings.com

    The MIL Network –

  • MIL-OSI: Gadens selects Intapp to comply with AML regulations in Australia

    Source: GlobeNewswire (MIL-OSI)

    PALO ALTO, Calif., June 17, 2025 (GLOBE NEWSWIRE) — Intapp (NASDAQ: INTA), a leading global provider of AI-powered solutions for professionals at advisory, capital markets, and legal firms, announces that Australian law firm Gadens has chosen Intapp compliance solutions to improve compliance with new anti-money laundering (AML) and counter-terrorism financing (CTF) regulations in Australia.

    Modernizing new business intake

    Gaden’s decision to modernize its processes and software for both business intake and conflict management aligns with the passing of significant new AML and CTF regulations in Australia. Gadens chose Intapp to provide a consolidated tool for assessing its new business intake and onboarding processes. The solutions will enhance data integrity, reduce risk exposure, and create a seamless experience for firm clients.

    “The AML legislative reforms will change the way we onboard clients and will involve gathering and reviewing better prospective client information than ever before — including multiple cross-referenced verification methods and complex ownership structures,” said Daniel Sherry, Risk Manager at Gadens. “We chose Intapp because of their proven track-record as the leading provider of a single, comprehensive platform for business and matter opening, while also having the capability to create process flows to manage ongoing screening and recordkeeping needed for AML compliance.”

    Addressing AML regulation compliance

    Intapp will help Gadens prepare for and achieve compliance with the AML and CTF framework, which requires complex information gathering, monitoring, reporting, and recordkeeping.

    Intapp’s compliance solutions let firms securely collect sensitive information that feeds directly into the firm’s review processes. The software then helps verify client identities using proprietary and third-party data, including details like registered address, legal structure, and global parent company.

    By continuously monitoring active clients and engagements for evolving risk factors, Intapp can uncover and alert risk professionals to potential issues. Plus, Intapp stores all records of collected information, review activities, and decisions in a centralized location — so the firm can easily access these records to demonstrate AML and CTF compliance.

    Multiplying success with Intapp

    “We are thrilled that Gadens has chosen Intapp to centralize and automate secure business intake and conflicts management,” said Laura Saklad, Legal Industry Principal at Intapp. “This project will transform Gadens’ risk and governance framework, positioning them for long-term growth and operational excellence while easing the processes associated with AML and CTF compliance.”

    About Intapp​

    Intapp software helps professionals unlock their teams’ knowledge, relationships, and operational insights to increase value for their firms. Using the power of Applied AI, we make firm and market intelligence easy to find, understand, and use. With Intapp’s portfolio of vertical SaaS solutions, professionals can apply their collective expertise to make smarter decisions, manage risk, and increase competitive advantage. The world’s top firms — across accounting, consulting, investment banking, legal, private capital, and real assets — trust Intapp’s industry-specific platform and solutions to modernize and drive new growth. For more information, visit intapp.com and connect with us on LinkedIn.​

    Contact
    Ali Robinson
    Global Media Relations Director
    press@intapp.com

    The MIL Network –

  • MIL-OSI: American Rebel Light Beer Strengthens Brand Position with NHRA as Title Sponsor of American Rebel Light Virginia NHRA Nationals (June 20-22, 2025) – National Television Broadcast on FOX and FS1

    Source: GlobeNewswire (MIL-OSI)

    American Rebel Holdings Inc. (NASDAQ: AREB) Expanding Market Presence and Showcasing Patriotism through Strategic Partnerships, High-Profile Events, and Unmatched Fan Engagement

    American Rebel Light Beer Takes Center Stage at Virginia NHRA Nationals – Available at all concession locations selling beer, American Rebel Light fuels the excitement of motorsports while celebrating patriotism, highlighted by two electrifying concerts from CEO Andy Ross.

    American Rebel Light Virginia NHRA Nationals – America’s Patriotic Beer stands proudly in the spotlight, reaching millions of dedicated fans on-site and across national TV, reinforcing its commitment to fans of motorsports that aligns with our American values.

    NASHVILLE, TN, June 17, 2025 (GLOBE NEWSWIRE) — American Rebel Holdings, Inc. (NASDAQ: AREB) (“American Rebel” or the “Company”), creator of American Rebel Beer (americanrebelbeer.com) and a designer, manufacturer, and marketer of branded safes, personal security and self-defense products and apparel, proudly announces that its flagship beer, American Rebel Light, has been named the title sponsor of the American Rebel Light Virginia NHRA Nationals taking place June 20 – 22 at Virginia Motorsports Park in Richmond, VA.

    Race Weekend Highlights at the American Rebel Light Virginia NHRA Nationals

    Fans can enjoy American Rebel Light at all concession locations selling beer at Virginia Motorsports Park, as well as at the American Rebel Light Party Tent and American Rebel Light Trackside Bar. CEO Andy Ross will perform two concerts during race weekend, bringing his signature freedom-fueled anthems to NHRA fans.

    “We’re really playing to our audience and core customers at NHRA races,” said Andy Ross, CEO American Rebel Holdings, Inc. “Race fans are very patriotic, and they love our beer and if they give me the microphone, I’m happy to spread the word! NHRA 330+ mph, 12,000-horsepower nitro machines and Rebel Light are the perfect match. It’s the only beer we’re drinking round here.”

    NHRA Nationals Broadcast Details

    The American Rebel Light Virginia NHRA Nationals will broadcast on the FOX network and FS1, with eliminations coverage beginning at 4 pm EDT on Sunday, June 22.

    FOX broadcasts deliver major reach—up to 2 million viewers—making the Sunday eliminations a prime marketing moment for brand exposure for American Rebel Light.

    FS1 coverage reinforces awareness and offers additional touchpoints with hundreds of thousands more viewers.

    Expected and Historical Track attendance is strong, with several years of sold-out or near-capacity sessions, maximizing experiential fan engagement.

    Platform / Metric Estimated Range
    FOX (Sunday finals) 800K–2.1M viewers (800K avg, peak ~2.1M)
    FS1 (Qualifying / tape-delayed) ~250K–600K viewers, avg ~400K-500K
    On-site attendance Up to 23K capacity per day
       

    Andy Ross – Presented by American Rebel Light Beer – Live Performance Schedule

    Known for his patriotic and high-energy music, Andy Ross will take the stage:

    • Saturday Afternoon: Between Q2 & Q3 Nitro qualifying sessions (~3:15 pm EDT)
    • Sunday: Following Round 1 of Nitro Eliminations (~1:00 pm EDT)

    American Rebel Building on Past Success with the NHRA

    This marks the second NHRA title sponsorship for American Rebel Light in 2025. After a successful partnership at the American Rebel Light NHRA 4-Wide Nationals in Charlotte, the brand continues to expand its presence in professional drag racing.

    “Our experience in Charlotte was amazing,” said Andy Ross. “The exposure put us on the map in North Carolina and nationwide through FOX, FS1, and FS2 broadcasts. NHRA and Charlotte Motor Speedway were fantastic partners, and we can’t wait to do it again at Virginia Motorsports Park.”

    Strong Brand Presence at Virginia Motorsports Park

    As part of the sponsorship, American Rebel Light will have a strong brand presence at Virginia Motorsports Park, featuring trackside signage and brand integrations throughout the venue. Race fans (21+) can enjoy American Rebel Light—America’s Patriotic, God-Fearing, Constitution-Loving, National Anthem-Singing, Stand-Your-Ground Beer—while experiencing the intensity of NHRA drag racing.

    NHRA Excited to Welcome Back American Rebel Light

    “We’re thrilled to have American Rebel Light return as a title sponsor,” said Brad Gerber, NHRA Vice President and Chief Development Officer. “They’ve already proven to be a terrific partner with a team passionate about NHRA drag racing. We’re looking forward to an incredible weekend with American Rebel Light Beer and NHRA fans.”

    Meet NHRA Racing Legends

    Throughout the race weekend, fans can meet and greet American Rebel Light-sponsored drivers:

    • Tony Stewart
    • Matt Hagan
    • Other NHRA drivers in autograph sessions

    The Ultimate NHRA Experience

    Fans can grab a cold American Rebel Light at all concession locations selling beer at Virginia Motorsports Park. For an elevated experience, visit the American Rebel Light Trackside Bar or the American Rebel Light Party Tent, where guests can toast to horsepower and freedom with American Rebel Light 16 oz Tall Boys.

    Stay Connected & Get Tickets

    For tickets and event details, visit NHRA’s official site or follow Andy Ross (@andyrossrebel), American Rebel Beer (@americanrebelbeer) and American Rebel (@AmericanRebel99 on X) on social media for updates.

    New American Rebel Virginia Distributor – Valley Distribution Ensures Fans Enjoy American Rebel Light Beer at American Rebel Light Virginia NHRA Nationals

    American Rebel Beverages recently welcomed Valley Distributing Corporation (valleydist.net) as its newest distribution partner in the Commonwealth of Virginia. Their rapid execution was critical in ensuring that fans at the American Rebel Light Virginia NHRA Nationals could enjoy a cold American Rebel Light Beer throughout the race weekend—from the grandstands to the American Rebel Light Party Tent.

    “We’re incredibly grateful for Valley’s ability to move fast and deliver results,” said Todd Porter, President of American Rebel Beverages. “Their speed and commitment exemplify exactly why we believe this will be a long-term, high-impact partnership. We’re excited to grow together and build a retail footprint across Southwestern Virginia, so when fans head home from the race, they can find American Rebel Light Beer on shelves near them.”

    With this key partnership in place, American Rebel Beverages continues to expand its patriotic footprint—one race, one fan, and one state at a time.

    About American Rebel Light Beer

    American Rebel Light is more than just a beer – it’s a celebration of freedom, passion, and quality. Brewed with care and precision, our light beer delivers a refreshing taste that’s perfect for every occasion.

    Since its launch in September 2024, American Rebel Light Beer has rolled out in Tennessee, Connecticut, Kansas, Kentucky, Ohio, Iowa, Missouri, North Carolina, Florida, Indiana and now Virginia and is adding new distributors and territories regularly. For more information about the launch events and the availability of American Rebel Beer, please visit americanrebelbeer.com or follow us on our social media platforms (@americanrebelbeer).

    American Rebel Light is a Premium Domestic Light Lager Beer – All Natural, Crisp, Clean and Bold Taste with a Lighter Feel. With approximately 100 calories, 3.2 carbohydrates, and 4.3% alcoholic content per 12 oz serving, American Rebel Light Beer delivers a lighter option for those who love great beer but prefer a more balanced lifestyle. It’s all natural with no added supplements and importantly does not use corn, rice, or other sweeteners typically found in mass produced beers.

    For more information about American Rebel Light Beer follow us on social media @AmericanRebelBeer.

    For more information, visit americanrebelbeer.com.

    About American Rebel Holdings, Inc.

    American Rebel Holdings, Inc. (NASDAQ: AREB) has operated primarily as a designer, manufacturer and marketer of branded safes and personal security and self-defense products and has recently transitioned into the beverage industry through the introduction of American Rebel Light Beer. The Company also designs and produces branded apparel and accessories. To learn more, visit americanrebelbeer.com. For investor information, visit americanrebel.com/investor-relations.

    Watch the American Rebel Story as told by our CEO Andy Ross visit The American Rebel Story

    Media Inquiries:
    Matt Sheldon
    Matt@Precisionpr.co
    917-280-7329

    American Rebel Holdings, Inc.

    info@americanrebel.com
    ir@americanrebel.com

    American Rebel Beverages, LLC

    Todd Porter, President
    tporter@americanrebelbeer.com

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. American Rebel Holdings, Inc., (NASDAQ: AREB; AREBW) (the “Company,” “American Rebel,” “we,” “our” or “us”) desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “forecasts” “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include benefits of our continued sponsorship of high profile events, success and availability of the promotional activities, our ability to effectively execute our business plan, and the Risk Factors contained within our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2024 and our Quarterly Report on Form 10-Q for the three months ended March 31, 2025. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.

    Attachment

    The MIL Network –

  • MIL-OSI: Brag House Launches Revenue-Generating NIL Platform to Monetize Gen Z Athlete Engagement Across 200+ College Campuses

    Source: GlobeNewswire (MIL-OSI)

    NEW YORK, June 17, 2025 (GLOBE NEWSWIRE) — Brag House Holdings, Inc. (NASDAQ: TBH) (“Brag House” or the “Company”), the media-tech platform at the intersection of gaming, college sports, and Gen Z engagement, last week unveiled plans to launch a secure digital asset platform as part of its Name, Image, and Likeness (NIL) initiative supporting the Company’s broader monetization strategy by introducing new revenue streams, expanding Gen Z engagement, and strengthening its data-driven value proposition.

    Building on its earlier announcement to explore digital NIL engagement models, the initiative leverages Brag House’s national footprint across 200+ NCAA campuses through its partnership with Learfield, enabling student-athletes to monetize personalized digital assets such as highlight reels, game-day passes, and authenticated collectibles. Brag House will retain transaction fees and recurring royalty revenue from secondary marketplace activity, while also capturing valuable user engagement and behavioral data.

    “We’re laying the groundwork for a new digital economy built around Gen Z athletes and fans, ” said Lavell Juan Malloy II, CEO and Co-Founder of Brag House. “By combining NIL rights with authenticated digital assets, we’re offering scalable monetization while enhancing our ability to understand and serve our community. This platform introduces a repeatable, high-margin business model aligned with the surging NIL and digital ownership economies.”

    Unlocking a Multi-Billion-Dollar Market Through a Scalable Revenue Model

    As referenced in Brag House’s previous announcement, the NIL market is projected to grow to $1.5 billion by 2027. Brag House’s NIL platform targets a key gap in the market: 95% of NCAA athletes currently receive little to no NIL compensation.

    Using a no-code interface, athletes will be able to mint and sell digital assets directly to fans while Brag House earns transaction fees on all primary sales and royalties on secondary trades. Fan-to-athlete commerce will be enabled by automated smart contract systems, with automated payments routed to athlete-controlled digital wallets. The Company is evaluating sustainable, next-gen digital platforms that offer low fees and reliable verification systems.

    Initial monetization scenarios include:

    • Personalized collectibles with resale royalties
    • Digital access passes for live/virtual events
    • Loyalty integrations with brand partners and sponsors
    • Tiered fan experiences that reward long-term participation

    Accelerating Brag House’s Strategic Flywheel

    This platform aligns directly with Brag House’s four-phase strategic roadmap: build Gen Z community, scale B2B solutions, monetize engagement, and activate proprietary data. The NIL initiative further supports each of these goals by:

    • Increasing user retention through exclusive athlete-fan interaction
    • Creating brand sponsorship inventory around collectible campaigns
    • Enhancing the Company’s first-party behavioral data for Gen Z
    • Enabling subscription and membership cross-sell opportunities

    “This initiative is not about chasing trends, it’s about capturing value,” added Malloy. “We’ve already proven our ability to engage Gen Z across gaming and college campuses. Now, we’re unlocking the next layer of monetization that expands our platform’s economic potential.”

    Pilot Rollout in Late 2025

    Brag House expects to launch initial NIL activations on select campuses later this year, in conjunction with branded loyalty campaigns and its Brag Gators Gauntlet Series. Full platform capabilities, including smart contract integration, athlete onboarding, and fan resale features, are anticipated to go live in early 2026.

    About Brag House
    Brag House is a leading media technology gaming platform dedicated to transforming casual college gaming into a vibrant, community-driven experience. By seamlessly merging gaming, social interaction, and cutting-edge technology, the Company provides an inclusive and engaging environment for casual gamers while enabling brands to authentically connect with the influential Gen Z demographic. For more information, visit www.braghouse.com.

    Forward-Looking Statements 
    Certain statements in this announcement are forward-looking statements. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. These statements are subject to uncertainties and risks including, but not limited to, expectations related to the investigation of potential naked short selling, including the Company’s analysis, its ability to take appropriate corrective action, or any potential investigations by regulators and other risk factors discussed in the “Risk Factors” section of the Company’s filings with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law.

    Media Contacts:
    Fatema Bhabrawala
    Director of Media Relations
    fbhabrawala@allianceadvisors.com

    Dave Gentry, CEO
    RedChip Companies, Inc.
    TBH@redchip.com

    Investor Relations Contact:
    Adele Carey
    VP, Investor Relations
    ir@thebraghouse.com

    The MIL Network –

  • MIL-OSI: ESET Named a 2025 Gartner® Peer Insights™ Customers’ Choice for Endpoint Protection

    Source: GlobeNewswire (MIL-OSI)

    BRATISLAVA, Slovakia, June 17, 2025 (GLOBE NEWSWIRE) — ESET, a global leader in cybersecurity solutions, is proud to announce its recognition as the Customers’ Choice in the 2025 Gartner® Peer Insights™ “Voice of the Customer” report1 for Endpoint Protection Platforms, in the category of Organizations with Annual Revenue between 50M – 1B USD. This distinction reflects the positive feedback and high satisfaction ratings from verified end users who rely on ESET´s solutions to defend against evolving cyber threats.

    According to the report, 95% of Gartner Peer Insights reviews received for ESET indicated a 5-star (60%) or 4-star (35%) rating. Overall, our customers have given us a rating of 4.9 out of 5 during the last 180 days, with 98% of them concluding they would recommend our product. “In our view, ESET’s placement in the report underscores our commitment to delivering reliable, effective, and user-friendly endpoint protection platforms solutions to organizations worldwide,” said Zuzana Legáthová, Director of Test, Analyst Relations and Market Research at ESET.

    The “Voice of the Customer” report aggregates peer reviews and ratings over an 18-month period, offering valuable insights into customer experiences with leading cybersecurity vendors. ESET´s recognition is based on reviews from 187 verified end-user professionals, and we believe that it focuses on their direct experience with operating the ESET PROTECT Platform.

    “Being named a Customers’ Choice by Gartner Peer Insights is a powerful validation of the trust our users place in ESET. It reflects our ongoing mission to deliver cybersecurity that’s not only powerful and reliable but also intuitive and tailored to the real-world needs of modern organizations,” said Pavol Balaj, Chief Business Officer at ESET.

    ESET PROTECT is a comprehensive cybersecurity platform designed to meet the evolving needs of modern organizations. Built on decades of expertise and continuous innovation, it delivers a Prevention-First approach to security, integrating advanced technologies and security services into a single, scalable solution.

    At its core, the platform features ESET LiveSense, a multilayered security engine powered by over 30 years of human expertise, machine learning, and ESET LiveGrid, a global cloud-based reputation system. This foundation enables balanced breach prevention, detection, and response capabilities, ensuring robust protection across all digital environments.

    Key features include:

    • Modern, multilayered endpoint security for desktops, servers, and mobile devices
    • Extended protection for cloud applications, email systems, and servers
    • Comprehensive vulnerability assessment and patch management
    • AI-native detection technologies and advanced threat protection
    • Globally sourced telemetry and threat intelligence
    • Managed Detection and Response (MDR) services with local support and a fast 20-minute response time

    The report is based on over 5,400 reviews collected over an 18-month period ending January 31, 2025. Only vendors with a minimum of 20 eligible reviews and 15 ratings for “Capabilities” and “Support/Delivery” were included.

    Discover more about ESET PROTECT Platform. For more information about ESET’s awards and recognized excellence, click here.

    GARTNER is a registered trademark and service mark of Gartner, Inc., and/or its affiliates in the U.S. and internationally, and PEER INSIGHTS is a registered trademark of Gartner, Inc., and/or its affiliates and are used herein with permission. All rights reserved. Gartner® Peer Insights™ content consists of the opinions of individual end users based on their own experiences and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product, or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.

    About ESET

    ESET® provides cutting-edge digital security to prevent attacks before they happen. By combining the power of AI and human expertise, ESET stays ahead of emerging global cyberthreats, both known and unknown—securing businesses, critical infrastructure, and individuals. Whether it’s endpoint, cloud, or mobile protection, our AI-native, cloud-first solutions and services remain highly effective and easy to use. ESET technology includes robust detection and response, ultra-secure encryption, and multifactor authentication. With 24/7 real-time defense and strong local support, we keep users safe and businesses running without interruption. The ever-evolving digital landscape demands a progressive approach to security: ESET is committed to world-class research and powerful threat intelligence, backed by R&D centers and a strong global partner network. For more information, visit www.eset.com or follow our social media, podcasts, and blogs.

    The MIL Network –

  • MIL-OSI: ESET Named a 2025 Gartner® Peer Insights™ Customers’ Choice for Endpoint Protection

    Source: GlobeNewswire (MIL-OSI)

    BRATISLAVA, Slovakia, June 17, 2025 (GLOBE NEWSWIRE) — ESET, a global leader in cybersecurity solutions, is proud to announce its recognition as the Customers’ Choice in the 2025 Gartner® Peer Insights™ “Voice of the Customer” report1 for Endpoint Protection Platforms, in the category of Organizations with Annual Revenue between 50M – 1B USD. This distinction reflects the positive feedback and high satisfaction ratings from verified end users who rely on ESET´s solutions to defend against evolving cyber threats.

    According to the report, 95% of Gartner Peer Insights reviews received for ESET indicated a 5-star (60%) or 4-star (35%) rating. Overall, our customers have given us a rating of 4.9 out of 5 during the last 180 days, with 98% of them concluding they would recommend our product. “In our view, ESET’s placement in the report underscores our commitment to delivering reliable, effective, and user-friendly endpoint protection platforms solutions to organizations worldwide,” said Zuzana Legáthová, Director of Test, Analyst Relations and Market Research at ESET.

    The “Voice of the Customer” report aggregates peer reviews and ratings over an 18-month period, offering valuable insights into customer experiences with leading cybersecurity vendors. ESET´s recognition is based on reviews from 187 verified end-user professionals, and we believe that it focuses on their direct experience with operating the ESET PROTECT Platform.

    “Being named a Customers’ Choice by Gartner Peer Insights is a powerful validation of the trust our users place in ESET. It reflects our ongoing mission to deliver cybersecurity that’s not only powerful and reliable but also intuitive and tailored to the real-world needs of modern organizations,” said Pavol Balaj, Chief Business Officer at ESET.

    ESET PROTECT is a comprehensive cybersecurity platform designed to meet the evolving needs of modern organizations. Built on decades of expertise and continuous innovation, it delivers a Prevention-First approach to security, integrating advanced technologies and security services into a single, scalable solution.

    At its core, the platform features ESET LiveSense, a multilayered security engine powered by over 30 years of human expertise, machine learning, and ESET LiveGrid, a global cloud-based reputation system. This foundation enables balanced breach prevention, detection, and response capabilities, ensuring robust protection across all digital environments.

    Key features include:

    • Modern, multilayered endpoint security for desktops, servers, and mobile devices
    • Extended protection for cloud applications, email systems, and servers
    • Comprehensive vulnerability assessment and patch management
    • AI-native detection technologies and advanced threat protection
    • Globally sourced telemetry and threat intelligence
    • Managed Detection and Response (MDR) services with local support and a fast 20-minute response time

    The report is based on over 5,400 reviews collected over an 18-month period ending January 31, 2025. Only vendors with a minimum of 20 eligible reviews and 15 ratings for “Capabilities” and “Support/Delivery” were included.

    Discover more about ESET PROTECT Platform. For more information about ESET’s awards and recognized excellence, click here.

    GARTNER is a registered trademark and service mark of Gartner, Inc., and/or its affiliates in the U.S. and internationally, and PEER INSIGHTS is a registered trademark of Gartner, Inc., and/or its affiliates and are used herein with permission. All rights reserved. Gartner® Peer Insights™ content consists of the opinions of individual end users based on their own experiences and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product, or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, including any warranties of merchantability or fitness for a particular purpose.

    About ESET

    ESET® provides cutting-edge digital security to prevent attacks before they happen. By combining the power of AI and human expertise, ESET stays ahead of emerging global cyberthreats, both known and unknown—securing businesses, critical infrastructure, and individuals. Whether it’s endpoint, cloud, or mobile protection, our AI-native, cloud-first solutions and services remain highly effective and easy to use. ESET technology includes robust detection and response, ultra-secure encryption, and multifactor authentication. With 24/7 real-time defense and strong local support, we keep users safe and businesses running without interruption. The ever-evolving digital landscape demands a progressive approach to security: ESET is committed to world-class research and powerful threat intelligence, backed by R&D centers and a strong global partner network. For more information, visit www.eset.com or follow our social media, podcasts, and blogs.

    The MIL Network –

  • MIL-OSI Africa: SARS clamps down on non-compliance in the fuel industry

    Source: South Africa News Agency

    The South African Revenue Service (SARS) is working with other law enforcement agencies to combat illicit fuel trade, which costs the fiscus approximately R3.6 billion per year.

    In the past four months, the National Joint Operational and Intelligence Structure (NATJOINTS) has carried out several interventions.

    A joint intelligence team, comprising SARS and South African Police Service (SAPS) officials, has identified 23 targets across Gauteng, Mpumalanga and KwaZulu-Natal.

    In addition, 13 criminal cases were registered with SAPS, supported by SARS trade investigators, for customs and excise contraventions, and fraud. 

    “The intelligence-driven joint enforcement interventions included search-and-seizure operations targeting certain fuel storage facilities and depots, as well as random sampling of tanker transport to test the fuel viscosity and composition. In some cases, adulterated diesel – analysed in these investigations – had up to 68% paraffin content,” SARS said.

    Over the past decade, countries along the Maputo Corridor (South Africa, Eswatini and Mozambique) have become primary targets of the illicit fuel trade, which is driven by organised criminal networks that smuggle and illegally adulterate fuel. 

    SARS has established that some importers declare fuel amounting to 40 000 litres or less, whereas investigations reveal that up to 60 000 litres of fuel are actually imported. 

    “This is called under-declaration and documents are falsified to perpetuate this fraudulent activity. SARS has also detected a national trend, where many of the fuel-storage and distribution depots are involved in the adulteration of all fuel products, especially through illegal mixing of diesel with paraffin.

    “Fuel adulteration costs the fiscus approximately R3.6 billion per year, according to statistics by the International Trade Administration Commission,” SARS said.

    Faced with such carefully planned criminality, government agencies are working together more closely to detect, prevent and combat fuel adulteration, and enforce the Customs and Excise Act. 

    SARS noted that the illicit economy is a global phenomenon that threatens South Africa’s society, economy, and national security.

    “Tax evasion, smuggling, illegal transactions, illicit manufacturing and fraud undermine the rule of law, erode public trust, distort markets, deprive governments of revenue, and enable corruption and organised crime. 

    “The pervasiveness of these illicit activities in our country demands that all enforcement agencies work jointly to curb their harmful practices. The illicit economy is complex and requires a whole-of-government response among public entities, the private sector, civil society, and international partners,” SARS said.

    SARS Commissioner Edward Kieswetter expressed his appreciation to the SARS and SAPS teams and other government departments for their untiring efforts to detect, combat and prevent the scourge of the illicit economy. 

    “The criminal syndicates engaged in these brazen acts have become emboldened to act callously, with no restraint, in pursuit of their rapacious and criminal gains.

    “These syndicates can only underestimate our resolve to eradicate this criminality at their peril. These acts threaten the very foundation of our society. Our message is clear: we will spare no efforts to crush them,” the Commissioner said.

    Kieswetter said State agencies will collaborate and work within the law to confront illicit trade. 

    The joint intelligence team also found the following:

    • 953 515 litres of contaminated diesel fuel.
    • Six fuel depots that were in contravention of Sec. 37 of the Customs and Excise Act 91 of 1964, as amended.
    • Assets and contaminated fuel to the value of R367 274 330, leading to further investigation, and criminal and civil liabilities.
    • Two so-called fuel “washrooms”, one of which is a rare mobile “washroom” fitted on a transport truck, used to remove paraffin markers.
    • Twelve fuel transport trucks, which were identified after suspected false declaration on importation of an average of 15 000 litres of fuel per tanker. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Europe: Highlights – Workshop on “Tax barriers and cross-border workers” – Subcommittee on Tax Matters

    Source: European Parliament

    On Wednesday, 25 June 2025, the Policy Department for Economy and Growth organises a workshop with FISC Members to present a study on “Tax barriers and cross-border workers: tackling the fragmentation of the EU tax framework”.

    This study provides a mapping of the existing financial sector taxes applied in EU Member States and summarises the empirical evidence on the various effects associated with individual financial sector taxes.

    It focuses on the taxation of financial transactions, bank taxes, and the taxation of financial services. Financial sector taxes are assessed in terms of their effect on fragmentation and the coherence of the EU financial sector. The study also sketches some directions for reform to improve coherence of financial sector taxation.

    MIL OSI Europe News –

  • MIL-OSI Europe: Highlights – The European Defence Union: Tax Matters – Subcommittee on Tax Matters

    Source: European Parliament

    On 25 June 2025, from 14:30 to 16:15, the FISC Subcommittee will host a joint public hearing with the SEDE Committee on “The European Defence Union: Tax Matters”. The hearing will focus on the legislative framework governing VAT exemptions for defence-related activities carried out under the EU’s Common Security and Defence Policy (CSDP).

    It will examine the 2015 Council Decision granting VAT exemptions to NATO and EU agencies for defence efforts supporting the implementation of Union activities, and assess how effectively Member States are applying these provisions.

    In particular, the discussion will explore the cooperation mechanisms between the European Commission, national Ministries of Finance, and Ministries of Defence in ensuring consistent and compliant implementation of the VAT exemptions. The panel will also address the operational and administrative challenges encountered in the field. The insights gathered will contribute to the broader debate on strengthening the fiscal framework underpinning European defence initiatives, including the European Defence Industry Programme (EDIP) and upcoming measures under the ReArm Europe Plan and Readiness 2030 strategy.

    MIL OSI Europe News –

  • MIL-OSI Europe: Workshops – Tax barriers and cross-border workers – 25-06-2025 – Subcommittee on Tax Matters

    Source: European Parliament

    On Wednesday, 25 June 2025, the Policy Department for Economy and Growth organises a workshop with FISC Members to present a study on “Tax barriers and cross-border workers: tackling the fragmentation of the EU tax framework”.

    This study provides a mapping of the existing financial sector taxes applied in EU Member States and summarises the empirical evidence on the various effects associated with individual financial sector taxes.

    It focuses on the taxation of financial transactions, bank taxes, and the taxation of financial services. Financial sector taxes are assessed in terms of their effect on fragmentation and the coherence of the EU financial sector. The study also sketches some directions for reform to improve coherence of financial sector taxation.

    MIL OSI Europe News –

  • MIL-OSI Europe: Hearings – The European Defence Union: Tax Matters – 25-06-2025 – Subcommittee on Tax Matters – Committee on Security and Defence

    Source: European Parliament

    On 25 June 2025, from 14:30 to 16:15, the FISC Subcommittee will host a joint public hearing with the SEDE Committee on “The European Defence Union: Tax Matters”. The hearing will focus on the legislative framework governing VAT exemptions for defence-related activities carried out under the EU’s Common Security and Defence Policy (CSDP).

    It will examine the 2015 Council Decision granting VAT exemptions to NATO and EU agencies for defence efforts supporting the implementation of Union activities, and assess how effectively Member States are applying these provisions.

    In particular, the discussion will explore the cooperation mechanisms between the European Commission, national Ministries of Finance, and Ministries of Defence in ensuring consistent and compliant implementation of the VAT exemptions. The panel will also address the operational and administrative challenges encountered in the field. The insights gathered will contribute to the broader debate on strengthening the fiscal framework underpinning European defence initiatives, including the European Defence Industry Programme (EDIP) and upcoming measures under the ReArm Europe Plan and Readiness 2030 strategy.

    MIL OSI Europe News –

  • MIL-OSI Europe: Hearings – The European Defence Union: Tax Matters – 25-06-2025 – Subcommittee on Tax Matters – Committee on Security and Defence

    Source: European Parliament

    On 25 June 2025, from 14:30 to 16:15, the FISC Subcommittee will host a joint public hearing with the SEDE Committee on “The European Defence Union: Tax Matters”. The hearing will focus on the legislative framework governing VAT exemptions for defence-related activities carried out under the EU’s Common Security and Defence Policy (CSDP).

    It will examine the 2015 Council Decision granting VAT exemptions to NATO and EU agencies for defence efforts supporting the implementation of Union activities, and assess how effectively Member States are applying these provisions.

    In particular, the discussion will explore the cooperation mechanisms between the European Commission, national Ministries of Finance, and Ministries of Defence in ensuring consistent and compliant implementation of the VAT exemptions. The panel will also address the operational and administrative challenges encountered in the field. The insights gathered will contribute to the broader debate on strengthening the fiscal framework underpinning European defence initiatives, including the European Defence Industry Programme (EDIP) and upcoming measures under the ReArm Europe Plan and Readiness 2030 strategy.

    MIL OSI Europe News –

  • MIL-OSI Africa: Private sector urged to use SAYouth.mobi to create more job opportunities

    Source: South Africa News Agency

    President Cyril Ramaphosa has called on businesses and other public sector entities to use SAYouth.mobi to provide more pathways for young people to earning and learning.

    In his weekly newsletter, the President reflected that the country observed Youth Day on 16 June in tribute to the generations of young people who continue to inspire the ongoing pursuit for social justice, equality and opportunity for all.

    “The private sector needs to use all available mechanisms, including the Employee Tax Incentive, to hire young people.

    “South Africa’s young people deserve to lead lives of dignity. Unemployment is robbing far too many youths of this right. As government and business, let us continue to work together and do all within our means to empower young people to find jobs and create their own opportunities,” the President said. 

    WATCH | Youth Day commemoration 

    [embedded content]

    President Ramaphosa said that if the country is to live up to the democratic promise for which so many sacrificed their lives, it is essential to invest in today’s generation of young people and unleash their potential.

    Like many parts of the world, he highlighted that South Africa is grappling with high youth unemployment. 

    “To overcome this challenge, we need an approach that includes investing in education and skills development, fostering youth entrepreneurship and implementing targeted employment programmes focusing on young people,” he said. 

    As part of this work, government established the Presidential Employment Stimulus and the Presidential Youth Employment Intervention, initiatives that are providing opportunities to hundreds of thousands of young people at a time when not enough jobs are being created to absorb new entrants into the labour market.

    Since it began in 2020, the Presidential Employment Stimulus has provided more than two million jobs and livelihood opportunities. Of the participants in the programme to date, 72% are young people and 66% are women.

    A vital part of government’s efforts to empower young people is the SAYouth.mobi platform, which is a single point for unemployed young South Africans to access opportunities for work, training and learning.

    There are now over 4.7 million young people registered on the SAYouth platform and the Department of Employment and Labour’s employment services database. Through these platforms, young people have been supported to access over 1.6 million earning opportunities.

    “Last week in the City of Tshwane, I met with a number of young people who told me excitedly they had been approached by potential employers who had seen their profiles on SA Youth.mobi.

    “I want to encourage young job-seekers to utilise this trusted recruitment platform at https://sayouth.mobi/. Registration is free and the app is zero rated, meaning you can access the site and its contents without incurring any data charges,” the President said. 

    READ | Presidential Youth Initiative continues to empower SA’s most excluded youth

    The President said government has also focused on providing workplace experience and on-the-job training. He added that young people have often expressed frustration around the onerous experience requirements from employers, which effectively serve as a barrier to entry for them. 

    In 2019, government abolished the work experience requirement for entry level jobs in the public sector. Through the Youth Employment Service, a collaboration with the private sector, thousands of young people have been placed in workplace experience opportunities in a range of economic sectors.

    “The extent and scale of the youth unemployment crisis means that we should not focus solely on placing more young people in formal, existing jobs, but that we must bolster skills development and foster an entrepreneurial culture.

    “It is critical that we overcome the mismatch between the skills available in the workforce and market need,” he said. 

    President Ramaphosa said this is why government is investing in vocational training. 

    “We have increased funding to Technical and Vocational Education and Training (TVET) colleges and subsidies for the operationalisation of new campuses. Each year, we are placing thousands of learners and graduates into workplace experience opportunities.

    “Entrepreneurship is a key economic growth driver, but rates of entrepreneurial activity in South Africa are relatively low compared to other countries. We are working to foster an enabling environment that allows more young people to become self-employed,” the President said. 

    The Presidential Youth Employment Intervention has been working with the National Youth Development Agency and the Department of Small Business Development to financial and non-financial support to young people for their businesses.

    “Through all of these initiatives, the state has supported millions of young South Africans with work opportunities, work experience and skills development. However, we can only vastly scale up the employment of young people with greater private sector involvement,” the President said. – SAnews.gov.za

    MIL OSI Africa –

  • MIL-OSI Asia-Pac: Hong Kong ranks among world’s top three most competitive economies in World Competitiveness Yearbook 2025

    Source: Hong Kong Government special administrative region

         In the latest World Competitiveness Yearbook (WCY) 2025 published by the International Institute for Management Development (IMD), Hong Kong’s global competitiveness rises by two places further to third globally, after improving by two places to fifth last year. This marks Hong Kong’s return to the global top three for the first time since 2019. 
     
         WCY 2025 shows that Hong Kong’s competitiveness improves significantly, with a total score of 99.2 out of 100 and an increase of 7.7 points, representing the largest increase among the global top 10 economies.
     
         Among the four competitiveness factors in WCY 2025, Hong Kong rises to second globally in “Government efficiency” and “Business efficiency”. Its respective rankings in “Economic performance” and “Infrastructure” also improve to sixth and seventh globally. As regards the competitiveness sub-factors, Hong Kong tops the rankings in “Tax policy” and “Business legislation”, and ranks second globally in “International investment”, “Education” and “Finance”, and third globally in “International trade” and “Management practices”. 
     
         A Government spokesperson said today (June 17), “Having taken into account a host of factors including objective data and business opinions, the IMD’s WCY 2025 has reaffirmed Hong Kong as one of the most competitive economies in the world with a continuous rise in ranking. Hong Kong’s scores in overall terms and in many areas have improved in WCY 2025, showing that the HKSAR Government’s policy directions are on the right course and that various policies have yielded results. In particular, ‘Government efficiency’ is ranked second globally, which reflects the inherent excellence and competence of civil servants, and also validates that the change in government culture led by the Chief Executive to drive result-oriented policies has borne fruit. With the efforts of civil servants and the leadership of the governing team, the Government can efficiently deliver results that benefit our people and bring them better livelihoods. In addition, our ranking in ‘Business efficiency’ also comes second globally, reflecting business leaders’ positive views on Hong Kong’s competitiveness, as well as Hong Kong’s strengths including the rule of law, independent exercise of judicial power, a simple tax system with low tax rates, an efficient and transparent market, a robust financial system, a facilitating business environment aligned with international best practices, and free flow of capital, information, goods and talent, which are affirmed by the business community.”
     
         The spokesperson stated, “Hong Kong’s economic growth this year is forecast to be 2 per cent to 3 per cent. Against this backdrop, the number of companies registered in Hong Kong reached a new high. Hong Kong is in a period of economic restructuring. Some industries are performing very well, while others, such as the retail and catering industries, are facing challenges. The Government has announced a series of measures to support small and medium-sized enterprises, assisting them in upgrading and transforming, enhancing their brands, and exploring new markets.
     
         “In the face of a complicated global economic and political landscape, Hong Kong will understand changes accurately, respond to changes scientifically, and embrace changes proactively. We will continue to actively integrate into the overall national development and align with national development strategies to consolidate our functional role as a ‘super connector’ and a ‘super value-adder’, while continuously strengthening our governance systems and governance efficacy. We will strengthen international exchanges and co-operation, expand and deepen regional trade, and explore new markets, with a view to building a vibrant economy, striving for development, and improving people’s livelihoods on all fronts. With the staunch support of the country, Hong Kong is poised to achieve higher-quality and more sustainable development.”

    MIL OSI Asia Pacific News –

  • MIL-OSI: Antalpha Reports First Quarter 2025 Results

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, June 17, 2025 (GLOBE NEWSWIRE) — – Antalpha Platform Holding Company (“Antalpha” or the “Company”) (NASDAQ: ANTA), a leading fintech platform serving the Bitcoin mining ecosystem, today announced its unaudited financial results for the first quarter ended March 31, 2025.

    “Antalpha is off to a great start in 2025 with first quarter revenue growing 41% and net income growing 423% year over year. The scalability of Antalpha Prime’s fintech platform has enabled us to grow profitability faster than revenue. On top of our strong core business, the Company is exploring new areas of digital asset lending, including enabling our partners to provide Ethereum-collateralized loans and our clients to finance GPUs for AI inference computing,” said Paul Liang, chief financial officer of Antalpha.

    First Quarter 2025 Financial and Operational Highlights

        Three Months Ended March 31,    
    (US dollars in millions, unaudited)   2024   2025   % Change
    Total Revenue   $ 9.65     $ 13.60       41 %
    Net Income   $ 0.28     $ 1.46       423 %
    Adjusted EBITDA (non-GAAP)   $ 0.51     $ 2.49       392 %
    Adjusted EBITDA Margin (non-GAAP)*     5 %     18 %        
                             
          As of March 31,          
    (US dollars in billions, unaudited)     2024       2025       % Change 
    Supply Chain Loans Outstanding   $ 0.48     $ 0.58       22 %
    Bitcoin Loans Outstanding   $ 0.60     $ 1.19       98 %
    Total Loans Outstanding   $ 1.08     $ 1.77       64 %
                             

    * For more information regarding adjusted EBITDA and adjusted EBITDA margin, see “Non-GAAP Measures” and “Reconciliations of non-GAAP financial measures to the nearest comparable GAAP measures.”

    Business Highlights

    • Antalpha has purchased approximately US$20 million in XAUt to date, as part of its digital gold treasury strategy. This creates a strategic hedge against macroeconomic volatility and further strengthen the resilience of the collateral pool of the Company. The Company is unique in the deployment of a gold treasury strategy, in that it is synergistic to its core business. Acquiring digital gold will not only improve Antalpha’s risk management, it will also pave the way for expansion into new businesses.
    • The Company raised US$56.7 million gross proceeds, from the issuance of 4.4 million shares through its IPO on NASDAQ on May 14, 2025. As a strategic investor, Tether purchased 1.9 million shares, representing 8.1% of the Company’s ordinary shares immediately after the IPO, from the IPO offering.

    First Quarter 2025 Financial Results
    Total revenue was US$13.6 million, increasing 41% year over year.

    • Tech platform fee (on Bitcoin loans) was US$3.5 million, increasing 286% year over year.
    • Tech financing fee (on supply chain loans) was US$10.1 million, increasing 15% year over year.

    Operating expenses totaled US$12.4 million, increasing 30% year over year.

    • Funding cost was $6.6 million, increasing 18% year over year.
    • Non-funding operating expenses were US$5.8 million, increasing 47% year over year, primarily due to an increase in labor expenses, professional services and share-based compensation.

    Operating income was US$1.2 million, compared to US$0.1 million for the same period last year, reflecting the scalability of the Antalpha Prime platform.

    Net income was $1.5 million, increasing 423% year-over-year. Non-GAAP net income was US$1.8 million, increasing 554% year-over-year. Adjusted EBITDA (non-GAAP) was $2.5 million, increasing 392% year-over-year. For more information regarding non-GAAP net income and adjusted EBITDA, see “Non-GAAP Measures” and “Reconciliations of non-GAAP financial measures to the nearest comparable GAAP measures.”

    Financial Guidance
    For the second quarter of 2025, Antalpha expects revenues to be between US$16 million and US$17 million, representing a growth rate of 40% to 50% year over year, assuming Bitcoin price remains at the $100,000 level.

    The above forecast is based on the current market conditions and reflects Antalpha’s current and preliminary view, which is subject to substantial uncertainties. The Company does not undertake any obligation to update any forward-looking statements, except as required by law.

    Conference Call Information
    Antalpha’s management will hold an earnings conference call at 8:00 A.M. on June 17, 2025, U.S. Eastern Time.

    Please register in advance of the conference call using the link provided below. It will automatically direct you to the registration page of “Q1 2025 Antalpha Earnings Conference Call”. Please follow the steps to enter your registration details, then click “Register”. Upon registration, you will be provided with the dial-in number, the passcode, and your unique access PIN. This information will also be emailed to you in a calendar invite.

    For registration, please click: 
    https://register-conf.media-server.com/register/BI0bcb89f8f5d548dd9cbb0600510464f1

    All participants must use the link provided above to complete the online registration process in advance of the conference call.

    Additionally, a live and archived webcast of this conference call will be available at http://ir.antalpha.com.

    Non-GAAP Measures
    In addition to financial measures presented under generally accepted accounting principles in the United States, or GAAP, Antalpha evaluates non-GAAP financial measures such as non-GAAP operating income, non-GAAP net income, adjusted EBITDA and adjusted EBITDA margin.

    The Company believes these adjustments eliminate the effects of certain non-cash and/or non-recurring items that the Company believes complements management’s understanding of its ongoing operational results. However, non-GAAP measures are presented for supplemental informational purposes only, have limitations as an analytical tool, and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. In addition, other companies, including companies in its industry, may calculate similarly titled non-GAAP measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of its non-GAAP financial measures as tools for comparison. Antalpha will continually evaluate the usefulness of such metrics. The Company believe that non-GAAP measures may be helpful to investors because they provide consistency and comparability with past financial performance and with how management views its financial performance.

    Adjusted EBITDA (non-GAAP) represents net income before interest (if non-operating), taxes, depreciation and amortization, and share-based compensation expenses. Its funding cost is an operating item and a significant component of its business. As such, it is not excluded from adjusted EBITDA (non-GAAP). Adjusted EBITDA Margin represents the ratio between adjusted EBITDA and revenue.

    Non-GAAP net income represents net income before share-based compensation expenses. Non-GAAP operating income represents operating income before share-based compensation expenses.

    For more information on non-GAAP financial measures, please see “Reconciliations of non-GAAP financial measures to the nearest comparable GAAP measures.”

    About Antalpha
    Antalpha is a leading fintech company specializing in providing financing, technology, and risk management solutions to institutions in the digital asset industry. As the primary lending partner of Bitmain, Antalpha offers Bitcoin supply chain and margin loans through the Antalpha Prime technology platform, which allows customers to originate and manage their digital assets loans, as well as monitor collateral positions with near real-time data.

    Safe Harbor Statement
    This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about Antalpha’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in Antalpha’s filings with the SEC. All information provided in this press release is as of the date of this press release, and Antalpha does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    Condensed Consolidated Statements of Income
    (in USD, except for shares data, unaudited)

      Three months ended March 31,
    2024 2025 
    Revenue    
    Technology financing fee 8,735,121 10,080,373
    Technology platform fee 911,405 3,516,114
    Total revenue 9,646,526 13,596,487
    Operating expenses    
    Funding cost 5,583,985 6,566,046
    Technology and development 1,198,379 1,285,360
    Sales and marketing 872,113 972,816
    General and administrative 1,682,482 3,145,642
    Other cost 237,414 448,910
    Total operating expenses 9,574,373 12,418,774
    Operating income 72,153 1,177,713
    Non-operating income(i) 287,300 706,288
    Income before income tax 359,453 1,884,001
    Income tax expense 81,057 428,148
    Net income 278,396 1,455,853
    Weighted average number of ordinary shares    
    Basic* 19,250,000 19,250,000
    Diluted* 19,250,000 21,826,667
    Earnings per share    
    Basic* 0.01 0.08
    Diluted* 0.01 0.07

    *Giving retroactive effect to the reverse stock split effected on April 18, 2025.
    (i) Non-operating income includes other income and fair value change on crypto assets and liabilities.


    Condensed Consolidated Balance Sheets
    (in USD, unaudited)

        As of December 31,   As of March 31,
        2024   2025
    Assets                
    Cash and cash equivalents     5,926,655       2,438,894  
    Crypto assets held (including USDC)     60,952,988       53,831,765  
    Accounts receivable     4,091,740       5,332,230  
    Amounts due from related parties     2,123,933       3,523,014  
    Loan receivables, current     300,701,527       385,451,505  
    Prepaid expenses and other current assets     4,265,800       4,310,603  
    Crypto assets collateral receivable from related party, current     665,966,988       600,533,009  
    Total current assets     1,044,029,631       1,055,421,020  
                     
    Deferred tax assets     1,218,845       923,043  
    Loan receivables, non-current     128,166,851       192,559,409  
    Crypto assets collateral receivable from related party, non-current     71,040,098       159,170,468  
    Investment     5,814,162       5,814,162  
    Other non-current assets(i)     4,372,642       3,550,039  
    Total non-current assets     210,612,598       362,017,121  
    Total assets     1,254,642,229       1,417,438,141  
                     
    Liabilities and shareholders’ equity                
    Amounts due to related parties     7,820,838       11,335,614  
    Accrued expenses and other current liabilities(ii)     9,074,568       7,120,268  
    Loan payables due to related party, current     279,445,336       397,600,624  
    Crypto assets collateral payable to customers, current     693,852,753       600,562,518  
    Total current liabilities     990,193,495       1,016,619,024  
                     
    Loan payables due to related party, non-current     128,166,851       192,559,409  
    Crypto assets collateral payable to customers, non-current     88,943,818       159,170,468  
    Operating lease liabilities, non-current     953,821       885,059  
    Total non-current liabilities     218,064,490       352,614,936  
    Total liabilities     1,208,257,985       1,369,233,960  
                     
    Total shareholders’ equity     46,384,244       48,204,181  
    Total liabilities and shareholders’ equity     1,254,642,229       1,417,438,141  

    (i) Other non-current assets include deferred offering costs, property and equipment and right-of-use assets.
    (ii) Accrued expenses and other current liabilities include accrued liabilities, other payables and the current portion of lease liabilities.


    Reconciliations of non-GAAP financial measures to the nearest comparable GAAP measures
    (in USD, unaudited)

      Three months ended March 31,
    2024   2025  
    Operating income 72,153   1,177,713  
    Add: Share-based compensation expenses –   364,083  
    Operating income (non-GAAP) 72,153   1,541,796  
         
    Net income 278,396   1,455,853  
    Add: Share-based compensation expenses –   364,083  
    Net income (non-GAAP) 278,396   1,819,936  
    Add: Income tax expense 81,057   428,148  
    Add: depreciation and amortization expense 146,978   242,146  
    Adjusted EBITDA (non-GAAP) 506,431   2,490,230  
    Revenue 9,646,526   13,596,487  
    Adjusted EBITDA margin (non-GAAP) 5 % 18 %

    The MIL Network –